Re: City of Dublin- Swap

Russell: Thanks for the info. I do need to send a REMINDER to the credit
group about the authority issues raised by municipals (governmentals, cities,
etc.) entering into financial trades. Where can I obtain the most recent
list of credit people (you know how those credit people are) who deal with
financial trading? Thanks. Sara

P.S. the early production payment docs typically conveyed an undivided 90 %
interest in the producer's net revenue interest in particular properties.
The other 10 % was considered "excess" for purposes of you know what.

Russell Diamond
09/01/2000 12:03 PM

To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: City of Dublin- Swap

Sara,

According ot Financial Settlements, the City of Dublin transaction that I
told you could have some legal risk because it is a municipality, was
actually the trigger to a physical transaction. I asked if they could book
this in the system as a Physical Swap so we show no financial exposure.

Russell