Tenn supply in Zone 4

Fred with Equitable said he has 2 deals with CES.

1. Tennessee - Equitable is selling CES 2,500 day delivered to Zone 4 at
NYMX + .35. Equitable has the trigger and this deal goes through March
2000. CES is currently receiving this gas at Beldon & Blake.

2. Tetco - CES gave Equitable 100,000 dth in April and Equitable is giving
CES 100,000 dth in January 2000 delivered to Tetco M2. CES has(or will) pay
Equitable $.65 for the exchange. We call this a synthetic storage deal.

Do you know anything about these deals?