RE:

Joe - talked w/ Zisman about Centana this p.m. He agrees that so long as the party ENA shorted is different from the counter party on the implied storage agreement, then they are on shaky ground....and run the risk of blowing up the entire deal. My sense is that should they desire to hold in escrow additional amounts (without the estate agreement) they are exercising set off rights w/ affiliated ownership under an implied storage lease agreement. That is some seriously bad ju ju (translated...they better think again).

I am going to push for cash committee approval tomorrow or Thursday as discussed yesterday. Shemin should have her revised doc this p.m. or tomorrow a.m.

cmm