Message-ID: <5027644.1075841385436.JavaMail.evans@thyme> Date: Tue, 30 Apr 2002 04:58:18 -0700 (PDT) From: stanley.k.horton@dynegy.com To: joe.parks@enron.com Subject: Kase Commentary on Gas for the week ending 04/26/02 Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Stanley.K.Horton@dynegy.com X-To: Parks, Joe X-cc: X-bcc: X-Folder: \ExMerge - Parks, Joe\Inbox X-Origin: PARKS-J X-FileName: joe parks 6-26-02.pst ----- Forwarded by Stanley K Horton/HOU/Dynegy on 04/30/02 06:57 AM ----- Stephen D Barron To: Scott Leslie/HOU/Dynegy@Dynegy, Tony J Rodriguez/HOU/Dynegy@Dynegy, Lance C 04/29/02 01:57 PM Jordan/HOU/Dynegy@Dynegy, John A Pastore/HOU/Dynegy@Dynegy, Mike Hayes/HOU/Dynegy@Dynegy, Darren Marine/HOU/Dynegy@Dynegy, Eric C Sandberg/HOU/Dynegy@Dynegy, Brian M Rowe/HOU/Dynegy@Dynegy, Keith Taylor/HOU/Dynegy@Dynegy, Suzanne L Gibson/HOU/Dynegy@Dynegy, David Francis/HOU/Dynegy@Dynegy, Randy S LeForce/HOU/Dynegy@Dynegy, Drew Grams/HOU/Dynegy@Dynegy, Griff Jones/HOU/Dynegy@Dynegy, Brian Tamplen/HOU/Dynegy@Dynegy, John D Nguyen/HOU/Dynegy@Dynegy, Spencer K Bellaire/HOU/Dynegy@Dynegy, Andrew J Novero/HOU/Dynegy@Dynegy, Michelle Valencia/HOU/Dynegy@Dynegy, Steven Floyd/HOU/Dynegy@Dynegy, Samy Morcos/HOU/Dynegy@Dynegy, Scott Wischoff/HOU/Dynegy@Dynegy, Stanley K Horton/HOU/Dynegy@Dynegy, Jerry B Hopkins/HOU/Dynegy@Dynegy, Jesson A Bradshaw/HOU/Dynegy@Dynegy, Gerardo P Manalac/HOU/Dynegy@Dynegy cc: Subject: Kase Commentary on Gas for the week ending 04/26/02 Stephen D. Barron Vice President, West Gas Trading Dynegy Marketing and Trade 713-507-6877 ----- Forwarded by Stephen D Barron/HOU/Dynegy on 04/29/02 01:56 PM ----- Cliff Wilson To: Steve Barron cc: 04/28/02 12:54 PM Subject: Kase Commentary on Gas for the week ending 04/26/02 Please respond to Cliff Wilson For help reading the Kase Commentary please visit: http://www.kaseco.com/products_services/commentary/how_to_read.htm Thank you for receiving our Kase Commentary by email. The Adobe Acrobat Reader required to open the Kase Commentary is available at http://www.adobe.com/. We trust this will save you a lot of time and make it more convenient for you to review your Kase Commentary. If you have any difficulty receiving or viewing your email please call 505-237-1600. We will be happy to help you. Thank You Kase and Company http://www.kaseco.com/ The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Information contained in this report is not to be considered as an offer to sell or a solicitation to buy commodities, nor do we make guarantees. Kase will not be responsible for any typographical errors. Expressions of opinion are subject to change without notice. Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the abilities to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. (See attached file: Gas0426.pdf)