Status of Agreements ,
 Marie/Mary/Carol

Set forth below is the list of counterparties with whom I have been involved with regarding the implementation of netting arrangements and the status.  Green represents completed arrangements  
and red represents those arrangements under progress.  

Coastal States Trading-	Executed by both parties. (payment and close-out netting)
ConAgra-	            	Executed by both parties. (Master Crude Oil P&S with CSA)
Conoco- 			Executed by both parties. (only payment netting)
Crown Central-		Executed by both parties. (only payment netting)
Louis Dreyfuss-		Forwarding our Master Liquids documentation for their review.  (request 				made for NGL Master Purchase and Sale Agreement)
Morgan Stanley- 		Executed by both parties. (only close-out netting)
Navajo-			Requesting Navajo to review our standard payment netting document. 				(request for crude oil payment netting)
Richardson-			Richardson has requested payment netting of invoices for NGL 					transactions, but may be content to proceed with Master Netting 					Agreement. Marie Heard will inform me if I need to carry this forward.
Sunoco-			Executed by both parties. (only payment netting)
Unocal- 			Form of document agreed. (only crude payment netting)
Valero-			Executed by both parties. (only payment netting)
Williams-			Documents for crude oil payment netting agreed and being prepared for 				execution. Jeff Hodge is proceeding with a Master Netting Agreement.

Please let me know if you have any comments or questions.

John
marie.heard@enron.com, mary.cook@enron.com, carol.st.@enron.com