Subject: City of Mesa - Model
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked]
Date: Fri, 19 Jan 2001 08:59:00 -0800 (PST)

Russell,

As discussed, attached is the model for the City of Mesa deal. Here is the 
summary....

ENA is currently selling gas to the City of Mesa at a fixed price of 
$3.74/mmbtu.  It is a 1 year deal that began in August of 2000 and expires in 
July 2001.
City of Mesa wants to use the value in this contract to buy down an new index 
(physical delivery) deal that begins August 2001 and ends January 2002.
They are willing to raise the price on the existing deal to about $4.50/mmbtu 
and use the value to discount the new floating index deal about $.30/mmbtu

The summary page is the best place to start and probably has all the info you 
need for your analysis.

Again, the orginators (Dave Fuller and Jeffrey Oh, Portland) are looking to 
transact on Monday (Jan 22).

Let me know if you have any questions.  I will touch base with you 
mid-morning on Monday.

Thanks in advance,

Eric