Thanks.

-----Original Message-----
From: Nemec, Gerald
Sent: Tuesday, November 20, 2001 9:05 AM
To: Druzbik, Lisa
Subject: RE: UNOCAL TERM SHEET

Lisa, My only comments would be in the Firm Transport section. Since ENA can not directly provide firm transport on NNG, I would rephrase it as "ENA would arrange for Firm Transport on NNG". As we discussed before, Unocal would need to enter directly into the FT with NNG or ENA would have to contract for the FT and then release it to Unocal pursuant to the capacity release procedures (which would include posting and bidding requirements).

-----Original Message-----
From: Druzbik, Lisa
Sent: Monday, November 19, 2001 4:37 PM
To: Nemec, Gerald
Cc: Hilgert, Chris; Higgins, Ned
Subject: UNOCAL TERM SHEET

Gerald -
We are planning to provide a revised Term Sheet to Unocal sometime tomorrow. Can you please review the attached revised Term Sheet and provide any comments. It is not that different from the initial Term Sheet you reviewed and approved in September.

Revised Term Sheet -
<< File: Unocal Term Sheet (Nov-19).doc <<

Summary of changes [Term Sheet issued Sept-7 VS. Revised Term Sheet] -

<< File: Unocal Term Sheet - Sep-7 vs. Nov-19.xls <<

Thanks, Lisa Druzbik
3-9620