National Steel -Credit W/S

To All:

Attached is a credit worksheet required for a transaction with National Steel
Corp that is being structured by the contacts listed on the worksheet. This
particular transaction is being executed in conjunction with prior long dated
transaction with National Steel (TAGG#E79260). A prepay of the in-the-money
position to the counterparty has been structured for part of the remaining
years left on the contract. In addition to this, a new transaction will be
entered into in which ENA sells additional volume of nat gas to the
counterparty along with what is already being delivered from the remaining
contract. A Master Firm Purchase Sale is required for this new transaction
and the existing transaction MUST be assigned over to this Master in order to
offset the existing MTM with the sales volumes. The execution of this new
transaction is dependent on the assignment of the existing transaction to the
Master.

Regards,
Russell