Termination Agreement

We have received an executed Termination Agreement between Enron Canada Corp.
("ECC") and Gulf Canada Resources Limited ("Gulf Canada"), effective as of
January 1, 2001. This Termination Agreement terminates the ISDA Master
Agreement dated as of October 13, 1995 between ECC and Crestar Energy Inc.
("Crestar"). Crestar was amalgamated into Gulf Canada effective as of
January 1, 2001, with the surviving entity being Gulf Canada. Gulf Canada
has an ISDA Master Agreement with ECC, effective as of September 6, 1996.

Copies will be distributed.

Stephanie Panus