Term Sheet Proposal

Gerald:

Per our recent conversation, attached is the Term Sheet Proposal that I would
like to present to certain producers in the Powder River Basin. enovate,
L.L.C. is looking at purchasing space on both the Bison Pipeline (should be
in service 11/03) and Northern Border Pipeline. After you review, please
feel free to call me at (312)541-1232 with questions. enovate, L.L.C. would
like to pay producers a Chicago Net-back price for the gas in the Power River
Basin.

Thanks for your help!!

Barbara Dillard