We are doing OK

It's the week-end! This is just a general overview , if anyone wants detail, please give me a ring.

In general we are doing OK. In terms of cash out the door today, we were actually going to be positive until Kinder Morgan refused to send our cash back. We should be ($5.81mm).

Cut us off:
1. FPL (balance of month transactions only)
2. Enbridge (Consumers)
3. Proliance
4. Con Agra
5. Los Angeles Department of Water
6. Apache
7. PSEG (physical gas sales only)
10. PowerEx (Cash and Real time only)
11. Salt River Project
12. Pacificorp (NorthWest Cash only)

Issues:
1. PJM Interconnection LLC - want $30mm LC, we are working with them on their calculation methodology. Awaiting a letter before we react.
2. AEP - We completed $50mm of assignment transactions with them on Friday night. We also sent them $50mm earlier in the week when they had no contractual rights to it. They'll be back on Monday!!!!!!!! They have not cut us. They blinked first!!!!!
3. Mirant - Still want the physical gas collateralized. We have offered to sell it to them. They are still scheduling.
4. NGX - They have taken our lines to zero. Peter Keohane is working on it.
5. Sempra - Sempra are still trading but wanting to take their positions to zero.
6. Spinnaker - We MAY have agreed to monetize a position and therefore pay out $3mm plus.
7. Kinder Morgan - Asked for collateral for the first time ($39mm). Sent a letter suggesting material breach of contract, we have responded by letter to Park Shaper CFO.
8. Conoco Contract - Equiva (we gave it to them), Apache, Conoco, Pogo, Sempra, ConAgra, Vitol have all attempted to get collateral under the adequate assurance clause.
9. GISB - We appear to have been confirming some transactions under the GISB rather than the Masters. This is causing problems as it includes the 'adequate assurances' clause. W&T Offshore Inc, Mirant, Devon, Sequent. Letters have been sent.

LCs to Cash this week
1. Sempra - 50mm
2. Reliant - 78.5mm
3. Engage - 19mm
4. BP - $46.5mm

OTC Margin this week

Monday 10/29 = ($62,486,000)
Tuesday 10/30 = ($88,580,000)
Wednesday 10/31 = ($32,940,000)
Thursday 11/1 = ($13,390,000)
Friday 11/2 = ($5,891,000)

Number of Transactions:

TRADE DATE TRADE CNT
10/3/2001 5953
10/4/2001 6487
10/5/2001 5854
10/6/2001 17
10/7/2001 53
10/8/2001 5117
10/9/2001 5280
10/10/2001 6261
10/11/2001 5950
10/12/2001 6107
10/13/2001 16
10/14/2001 19
10/15/2001 5428
10/16/2001 7155
10/17/2001 7425
10/18/2001 7654
10/19/2001 7988
10/20/2001 4
10/21/2001 34
10/22/2001 7916
10/23/2001 8567
10/24/2001 8001
10/25/2001 8405
10/26/2001 6792
10/27/2001 12
10/28/2001 8
10/29/2001 7152
10/30/2001 5761
10/31/2001 7141
11/1/2001 6575
11/2/2001 5853

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