Subject: VNG Annual Pmt
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Tue, 6 Nov 2001 12:46:18 -0800 (PST)

Louise, as you may be aware our VNG agreement provides for an annual payment of Shared Value to Sequent Energy on November 25.  This year's payment is scheduled to be made on November 25, 2001 in the amount of $4,121,500.  Given previous discussions I felt that it was appropriate to give you a heads up on this matter.

Frank