possible participation in SPR move

If they limit the fill to oil from the royalty-in-kind program, we can't participate because that's only an option for companies drilling in the Gulf.

If they go beyond that (DOE sources say they are inclined to), there might be a chance for us to participate if they solicit offers on the spot market. One consultant said that option is less likely, but they will look into it more closely for us. More likely they would contract with some oil-producing states off market to provide the rest.

If they open it up to everyone, we will have plenty of time to make an offer during the solicitation period.

CJS