PDVSA May LPG Cargo - Price Revision Proposal

Suzanne,

Based on price quotes that I received today from Lee Jackson, please advise if you can modify the pricing of the latest cargo as follows:

Current: 2,600 MT (1,354,600 gallons) @ 58.625 cents + (Average Mont Belvieu for 3 days around bill of lading minus Average Mont Belvieu for May 17, 18, 21)

Remainder of Cargo @ Average Mont Belvieu for 3 days around bill of lading plus 7 cents per gallon ($0.51125 + $0.07 = $0.58125)

Proposed: 2,600 MT (1,354,600 gallons) @ 58.625 cents + (Average Mont Belvieu for 3 days around bill of lading minus Average Mont Belvieu for May 17, 18, 21)

2,800 MT (1,458,800 gallons) @ Average June Non-TET Mont Belvieu plus 6.25 cents per gallon

2,900 MT (1,510,900 gallons) @ Average July Non-TET Mont Belvieu plus 6.00 cents per gallon

Remainder of Cargo @ Average Mont Belvieu for 3 days around bill of lading plus 7 cents per gallon ($0.51125 + $0.07 = $0.58125)

Note: Bill of Lading date was May 17, 2001

Basis: 521 Gallons/MT

Thanks,

Paul