HDD Option GTC's

Marie, Arfan, -

Please find attached the first draft of the referenced GTC's together with a
draft of the long form description. As discussed once you have forwarded to
the relevant trading desk - I would be grateful if you could set-up a call to
discuss later this week.

Some of the Points I need feedback on are:

Standard Terms of an American And European option;
Premium Payment Date;
HDD Calculation Period;
Procedure for Exercise;
Exercise Time;
Option Settlement Date;
Will each short description either be a call option or a put option ?
HDD Swap provides for a one off adjustment to the amounts paid if a Reporting
Servicee publishes a missing temperature within 95 dayus of the end of the
Claculation Period - should such a provision also be included ?

Thanks,

Denis