FW: Cost for Put Option

Kelli,

Attached is a request from PNM for an indication for the price of a put for Q3 next year. This is a physical option that is at the money. Please let me know if you have any questions.

Thanks,

Kim

-----Original Message-----
From: "Avalos, Art" <AAVALOS@pnm.com<@ENRON
Sent: Wednesday, October 17, 2001 10:43 AM
To: Ward, Kim S (Houston)
Subject: Cost for Put Option

Hi Kim,
Could you please give me an estimate for Q3 2002, on the cost of a put
option for 5,000 mmBtu/day (daily and monthly) from the San Juan Basin.
Thanks, I really appreciate it.
Art Avalos