CDWR

Dave,

Today we entered into an agreement with CDWR. A condition of any new deal
was payment for power deliveries already made. We received $10.9MM today so
we executed a 200MW Peak NP-15 Sale from Feb24-Mar31. CDWR gave us an option
until Mar28 to extend the deal for five years (at a lower price). This gives
us the opportunity to work out the credit issues.

I plan on speaking with Freeman early next week to re-engage on credit issues
/ Pastoria / other deals.

Chris