Subject: Conversation with Petrie Parkman on WEP acquisition
From: [email-masked]
To: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked]
Date: Thu, 22 Feb 2001 03:05:00 -0800 (PST)

We finally had a conversation with Bill Garner at Petrie Parkman late
Wednesday afternoon, 2/21/01.  Tom Brown representatives are not discussing
the status of the WEP acquisition with any entities.

Bill informed us that they are in negotiations with a single entity for the
entire Wildhorse Package as included in the data room plus some additional
Colorado assets that were not included in the package.  Bill also informed
us (and the reason he returned our call) is that he indicated he believes
the entity would be "friendly" to Crescendo  and has expressed interest (to
them) in "working with us" on our project and plans.  We reminded him that
there are still issues with our existing contract that need to be
expediently resolved, and we aren't going to wait 6 months to resolve these
issues.  He assured us that Tom Brown is very aware of contractual issues.
He indicated that the entity wanted to contact Crescendo now (before
execution of the PSA), but TBI insists on working through PSA issues before
contact with Crescendo.  A PSA review meeting is scheduled for next week.
Bill said he would make introductions for us as soon as the PSA is executed.

Bill also informed us that it was TBI management that made the decision to
sell all the assets instead of breaking up, even if breaking up brought a
higher sale price.

Ken Krisa