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Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: enerfax1@bellsouth.net@ENRON X-To: Enerfaxweb@yahoogroups.com X-cc: X-bcc: X-Folder: \ExMerge - Lewis, Andrew H.\Deleted Items X-Origin: LEWIS-A X-FileName: andy lewis 6-25-02.PST Enerfax Daily NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE=20 Wednesday, January 23 2002 No. 910 Visit: http://www.enerfax.com/ or for Oil Prices & News http://www.enerfax= gold.com/ =20 PHYSICAL NATURAL GAS PRICES =20 Gulf/Eastern Region =20 | Agua Dulce | 2.06 | | ANR SE | 2.09 | | Carthage TG | 2.12 | | Chicago Citygate | 2.14 | | Columbia Gulf Onshore | 2.15 | | Dominion South Point | 2.27 | | Henry Hub | 2.18 | | Houston Ship Channel | 2.20 | | Katy Hub | 2.14 | | NGPL LA Pool | 2.08 | | NGPL - Midcontinent | 2.04 | | NGPL STX | 2.07 | | NGPL TX/OK | 2.08 | | NNG Demarc. | 2.10 | | Niagara | 2.34 | | Sonat Tier 1 | 2.14 | | TCO IPP Pool | 2.25 | | Tetco ELa | 2.14 | | Tetco M-3 | 2.45 | | Tetco STX | 2.08 | | TGP Zone 0 | 2.07 | | TGP Zone 1 (500 Leg) | 2.12 | | TGT Zone SL | 2.15 | | New York Citygate | 2.52 | | Transco Station 65 | 2.22 | | Transco Zone 6 (NY) | 2.52 | | Trunk ELa | 2.10 | | Western Region =20 | California Border | 2.16 | | El Paso Keystone | 2.04 | | El Paso San Juan-Blanco | 2.03 | | Waha Hub | 2.06 | | Canadian/Rockies Region=20 | Nova/Aeco (C$/gig) | 3.02 | | Dawn Hub/Union | 2.24 | | Northwest Stanfield | 2.09 | | Wyoming Pool | 1.96 | | Opal | 1.98 | | PGT-Malin | 2.14 | | Sumas | 2.07 | Flow Date 1/23 ------------------------------------------------------------- NATURAL GAS FUTURES Henry Hub=20 12 Month Strip 2.4628 -0.0708 =20 18 Month Strip 2.6023 -0.0552 =20 | Month | High | Low | Close | Change | | FEB | 2.130 | 2.113 | 2.106 | -0.130 | | MAR | 2.138 | 2.121 | 2.118 | -0.118 | | APR | 2.195 | 2.182 | 2.178 | -0.101 | | MAY | 2.298 | 2.274 | 2.270 | -0.082 | | JUN | 2.360 | 2.345 | 2.338 | -0.074 | | JUL | 2.440 | 2.410 | 2.413 | -0.067 | | AUG | 2.495 | 2.460 | 2.461 | -0.065 | | SEP | 2.505 | 2.470 | 2.473 | -0.056 | | OCT | 2.530 | 2.530 | 2.503 | -0.049 | | NOV | 2.750 | 2.720 | 2.728 | -0.044 | | DEC | 2.955 | 2.920 | 2.938 | -0.034 | | JAN | 3.055 | 3.000 | 3.028 | -0.029 | ------------------------------------------------------------- - RISK MANAGEMENT=20 Across the Energy Enterprise e-Acumen, Inc., is uniquely positioned to help you manage risk and increase= value. That's because our analytics, data and applications cover all strat= egic aspects of the energy enterprise, from short-term forecasting to compr= ehensive risk analysis and portfolio optimization, to asset valuation and w= eather risk management. Dedicated to the needs=20 of energy and trading companies in a dynamic and competitive world, our app= roach combines best-in-class physical fundamentals with industry-leading st= atistical methodologies.=20 e-Acumen is a venture-backed company founded in January, 1997. Since then w= e have listened attentively to the market and assembled a stellar cast of s= easoned energy industry professionals and Silicon Valley technologists. Joi= n us as we help the industry continue its path toward liquidity and profita= ble, risk-managed growth in the exciting years ahead! Click here to find out more about current special offers, or go to http://= www.e-acumen.com=20 ------------------------------------------------------------- Natural Gas Futures Driven Lower by Lack of Fundamentals=20 Natural gas for February delivery on the NYMEX tumbled $0.13 to $2.106 per = MMBtu yesterday on mild weather and a continuing huge storage inventory. Th= e March contract lost $0.118 to $2.118 per MMBtu. Contracts were in contang= o with each succeeding month more expensive than the prior month. There's a= lack of support across the board. Cash prices will likely weaken more by t= he weekend ahead of next Tuesday's February contract expiration with foreca= sts again predicting above normal temperatures for the next two weeks acros= s most of the nation. A general lack of fundamentals and technical weakness= should pressure the market below $2 soon. This weeks AGA storage report is= expected to show a 130 140 Bcf withdrawal. Anything less and the market c= ould looking at $1.70 per MMBtu by expiration. As storage operators face re= quirements to release volumes out of storage, that extra gas hitting the ma= rket could force prices down quickly. Natural gas for next day delivery acr= oss the US! and Canada was generally $0.20 $0.40 lower yesterday. Natural = gas for next day delivery at the Henry hub lost $0.23 to $2.18 per MMBtu.= =20 ------------------------------------------------------------- Exploit the enterprise-wide transaction management power deployed by the big names in gas. NUCLEUS Software ZAINET Gasmaster The most comprehensive, totally-integrated natural gas information system available today. Ask about out limited-time offer competitive upgrade program. CAMINUS Your Competitive Edge in Energy. Call Caminus at (212)515-3700 or visit the website at http://www.caminus.co= m=20 ------------------------------------------------------------- Today's Power Bulletins * In Case Brought by United States Enrichment, International Trade Commissi= on Approves Import Duties of 2.26% on More than $200 million of Enriched Ur= anium from Britain, Germany and Netherlands * Senator John Kerry Scheduled to Deliver Speech on Energy to Center for Na= tional Policy Today * Greenlight Power Technologies Launches 5th Generation Fuel Cell Test Stat= ion * AEPs Yearly Earnings Climb 26% Despite Weak Economy and Mild Weather in 4= th Quarter * Pacific Gas and Electric Tells Federal Judge California Should Allow It t= o Bypass State Laws to Get Out of $13.2 Billion Bankruptcy * Western Spot Power Prices Fall on Weather Related Demand * Northeast Spot Power Prices Slump Amid Warm Weather Forecast ------------------------------------------------------------- DO YOU JUST SEE TREES? WE SEE A FOREST!=20 See the forest with NewEnergy MarketPower by efficiently obtaining informat= ion for critical market-based investment decisions and mitigate your risk. Use MarketPower to determine the effects of transmission congestion, fuel c= osts, generator availability and load growth on market prices to better exe= cute your company's strategic direction. Designed specifically for today's energy industry, MarketPower is accurate = and easy-to-use, so you can plan for tomorrow...today! New Ideas...New Solutions...NewEnergy.=20 For a free 30-day trial visit us at http://www.NewEnergyAssoc.com/justdownl= oadit or call us at 770 779 2957 for more information ------------------------------------------------------------- Unocal Finds New Alaska Natural Gas Reservoir Unocal has discovered a new natural gas reservoir on Alaskas Kenai peninsul= a which is expected to yield significant natural gas reserves. The test wel= l had a 39-foot pay interval yielded restricted flow rates of up to 11.2 MM= cf per day. The Grassim Oskolkoff 1 well, located 35 miles south of Kenai, = Alaska, is operated under a joint operating agreement between Unocal and Ma= rathon Oil. Unocal owns 40% working interest in the well and the surroundin= g 25,000 acre exploration area, and Marathon owns the remainder Unocal has = also begun a separate 3-well exploration program on the southern Kenai Peni= nsula. Unocal and Marathon have formed Kenai Kachemak Pipeline to build a n= atural gas pipeline that will connect the new producing area with the exist= ing south central Alaska pipeline system. =20 ------------------------------------------------------------- FAST. FLEXIBLE. PROVEN. The AURORA(TM) electric market model helps you deal with the challenges and= risks of today's energy marketplace. Exceptionally fast and easy to learn, AURORA(TM) reflects fundamental marke= t drivers and gives power marketers, resource developers and portfolio mana= gers a better way to manage against market uncertainty and price volatility= .=20 AURORA delivers - ?=09Price forecasts - hourly, daily, weekly, monthly, yearly ?=09On-peak, off-peak pricing ?=09Resource valuation and net power costs ?=09Portfolio analyses ?=09Capacity expansion analyses ?=09Effects of emissions ?=09And much more . . . AURORA's comprehensive databases cover all electricity markets throughout t= he U.S. and Canada. The model also handles storage, congestion pricing, and= offers detailed reporting and data export capabilities. It can be used as = a stand-alone tool or be integrated with your other business tools. Visit us at http://ww.epis.com or call (503) 722-2023. EPIS, Inc. Market Information Solutions for the Electric Power Marketplace ------------------------------------------------------------- Natural Gas NYMEX Volume 02FEB 25,464 02MAR 8,953 02APR 5,940 02MAY 1,888 02JUN 2,562 02JLY 2,069 02AUG 2,513 02SEP 1,092 02OCT 2,242 02NOV 907=20 02DEC 1,534 03JAN 1,307 03FEB 421 03MAR 1,240 03APR 436 03MAY 30 03JUN 111 03JLY 4 03AUG 7 03SEP 11 03OCT 8 03NOV 7 03DEC 6 04JAN 105 ------------------------------------------------------------- GET REAL about energy risk management with KWI In today's fast moving energy markets you need to be able to manage risk in= real time. That means knowing before you hit a risk problem, not afterwards when it ma= y be too late to prevent big losses spreading right through your enterprise= . With kW3000(tm), our multi-commodity, integrated front to back office softw= are, you can monitor your Profit At Risk(tm), counterparty risk and mark-to= -market all in real time. Keep alert to risk. Do it in real time. Call KWI -Americas: +1-281-681-3301= / Europe: +44 (0) 20-7386-2700 / Asia Pacific: +61(0) 2-9976-6111http://ww= w.kwi.com=20 -------------------------------------------------------------- Enrons Assets Being Sold Off=20 Now that Enron's energy trading business, which produced about 90% of the i= ts $100 billion of sales in 2000, has been sold to UBS for no cash and a sh= are of future profits, the rest of the companys assets are being sold off t= o pay creditors a small portion of over $40 billion that they are owed. Alt= hough company officials have said they are committed to keeping the core in= tact, it is slowly being dismembered and there may be little left to reorga= nize. Enron claimed assets of more than $50 billion in its bankruptcy filin= g, but they may actually bring much less when sold. The commodity trades an= d derivative contracts that Enron entered into before filing for bankruptcy= were estimated to be worth up to $8 billion last month, but now it says th= e about 700 open position are worth about $1.3 billion. It is seeking court= permission to settle the contracts to raise cash. Since it collapsed, Enro= n has sold about $520 million of contracts and assets and lost control of i= ts $2.7 bi! llion Northern Natural Gas Pipeline, but is contesting Dynegy's= rights to the pipeline. As part of its plans to emerge from bankruptcy, En= ron wants to place litigation against it in a trust and raise between $4 - = $6 billion by selling assets in Latin America and Asia. Centrica Plc has ag= reed to buy Enron's UK energy supply business for $137.1 million and Kinder= Morgan plans to buy Enron's share in a natural gas pipeline for $68 millio= n. AEP has purchased wind generators in Texas from Enron for $175 million. = Enron could also ask the bankruptcy judge to allow the $2.98 billion sale o= f its Portland General Electric utility to Northwest Natural Gas. It also h= opes to sell other businesses, including the Wessex water utility in Britai= n. Currently Enron's most valuable asset is Transwestern Pipeline, which is= worth about $1.2 billion, and might get creditors $640 million after payin= g off about $560 million in debt. =20 ------------------------------------------------------------- ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc.http://www.fea.com/?cId=3D17=20 main phone number: 1 510-548-6200 email address: info@fea.com =20 ------------------------------------------------------------- PHYSICAL POWER PRICES | | High | Low | Average | | | $/MWh | $/MWh | $/MWh | | Cinergy | 18.50 | 17.50 | 18.00 | | ECAR | 20.50 | 17.00 | 18.75 | | ERCOT | 17.55 | 17.00 | 17.30 | | Entergy | 19.00 | 17.85 | 18.00 | | TVA | 23.75 | 21.95 | 22.50 | | ComEd | 19.00 | 17.00 | 18.60 | | Nepool | 28.00 | 27.25 | 27.75 | | PJM West | 23.50 | 22.40 | 22.55 | | Main | 19.00 | 15.00 | 18.20 | | MAPP | 22.00 | 19.00 | 20.35 | | Palo Verde | 23.50 | 21.50 | 22.45 | | Mid C | 19.00 | 18.50 | 18.80 | | COB | 21.50 | 21.00 | 21.30 | | 4 Corners | 22.00 | 20.50 | 21.45 | | Mead | 24.00 | 21.50 | 22.35 | | NP 15 | 23.75 | 22.50 | 22.95 | | SP 15 | 24.00 | 22.15 | 23.05 | Power Delivered 1/23 ------------------------------------------------------------- Virginia Wants FERC to Rethink RTOs The Virginia State Corporation Commission claims none of the existing regio= nal transmission organizations currently proposed for the Mid-Atlantic and = Northeast will provide significant benefits for the state, and has told the= FERC to reassess the RTO landscape. Meanwhile, on Northeastern RTO formati= on, most states are urging the FERC to maintain the status quo and focus on= incorporating market standards rather than require a single RTO to cover t= he entire region. The Virginia SCC says its location, bordering the Mid-Atl= antic, Southeast and Midwest, puts them in a delicate situation in relation= to the RTO question.=20 ------------------------------------------------------------- Allegheny Energy Supply Company, Salt River Project (SRP) and Sempra Energy Resources announce Open Season for proposed Desert Crossing Gas Storage and Transportation System. Open Season for customers interested in capacity begins Jan. 10, 2002 and extends through Feb. 8, 2002. For information, visit http://www.desert-crossing.com=20 ------------------------------------------------------------- Todays Gas Bulletins * Congress Gears Up for High-Profile Enron Hearings * Enron Says It Ordered All Staff to Preserve All Papers * Federal Court to Hear Arguments Today Regarding Destruction of Enron-Rela= ted=20 Documents in Response to Amalgamated Bank's Request to Discover How and Why= Andersen Destroyed Documents * Enron Europe Creditors Face $900 Million Trading Loss * Dynegy Elects Glenn Tilton and John Watson to Board of Directors * CES International CEO Dave Jones to Speak Tomorrow Hotel at JP Morgan H&Q= Energy Technology Conference at New York Palace Hotel * NuWay Energy to Acquire Mendell Energy Technologies, Including 95,000 Acr= es of Leases in Montana * Kerr-McGee Replaces 490% of 2001 Oil and Natural Gas Production=20 ------------------------------------------------------------ Enron's Dabhol Project Nears Auction Block Lenders to Enrons $2.9 billion Dabhol Power in India are set to put it on t= he auction block, with 6 major companies likely to express interest. The pl= ant has been idle since last June after a dispute over the cost of the powe= r for its sole customer, the Maharashtra State Electricity Board. Due dilig= ence is expected to begin early next month, with a possible deadline of the= middle of March for submitting offers. Interested foreign companies are Sh= ell, TotalFinaElf and Gaz de France. Potential Indian buyers are BSES Ltd, = Tata Power and Gas Authority of India. Publicity which focused on Enron's p= roblems in India has given the country's image a black eye as a safe place = to invest. Some in India claim that Enron coerced and hoodwinked a freshly = elected state government into signing off on a power project it had previou= sly tried to stop. The World Bank, which refused to fund the project, said = it was too large, too costly and the terms were slanted in Enrons favor. Ma= harashtras! demand for energy did not rise as expected and meanwhile, the d= evaluation of the Indian rupee and climbing prices for naphtha raised the p= rice of power production. Enron owns 65% of the Dabhol project, GE and Bech= tel each own 10% and the Maharashtra State Electricity Board 15%. Those int= erested in acquiring the plant must put up a non-refundable $100,000 in ear= nest money. The sellers intend to sell the plant as a whole, but bidders ma= y bid jointly for the operation and split it up later. A London data room w= ill be established for the commercial and financial agreements, operating a= nd historical data, projections and information on the status of Phase II. = Construction on the 1,444 MW second phase was stopped when the state electr= icity board fell $240 million behind in payments. The 740 MW first phase wa= s launched in 1999.=20 ------------------------------------------------------------ Ziff Energy Group presents Gas Storage 2002 Redefining the Fundamentals: Is Gas Still in the Storage Game? Power Drives Storage Will the recession affect plant and storage development? Will record high volumes in storage further depress gas prices? Is it possible to mitigate storage risk while dealing with year-round price volatility? Plus Two Important Workshops Calpine Corporation Hear what the Power Generator wants from the storage industry Bruce Bernard Learn from the expert how to mitigate storage price risk in the 2002 gas marketplace February 6 & 7 Houston Four Season Hotel 1300 Lamar Street Register Today for this Important Conference Call 1-800-853-6252 Email: gasconference@ziffenergy.com=20 Visit: http://www.ziffenergyconferences.com=20 ------------------------------------------------------------- Debt Rating Agencies Considering Reforms Following complaints by investors, analysts and lawmakers that Moody's, S?a= nd Fitch were too slow to downgrade Enron, the credit agencies have all sai= d they are considering reforms that would speed up their review process for= altering a company's ratings. The changes could lead ratings to become mor= e volatile and affect stock and bond prices. It could also raise the cost o= f borrowing for companies that need cash. Fitch and Moodys have said they = may eliminate outlooks, meant to be a guideline of a rating's possible futu= re direction. There will now be more rating changes that are multiple notch= es and corporate ratings will become more volatile and lower than they have= been over the last decade. The agencies have already changed their criteri= a for the assessment of a companys ratings. All are taking a closer look at= rating triggers and a companys ability to raise needed cash. This month, t= he agencies downgraded Kmart, which has now filed for bankruptcy, several n= otches i! n a matter of days. Moodys rated Kmarts debt as investment-grade = a little more than a month ago. Moody's put Calpine on review for only one = day before lowering its debt rating. It also kept Ford on review for only 5= days before downgrading its debt. The effects of the Enron collapse could = hurt other companies facing a cash crunch by subjecting them to more string= ent scrutiny. S?said it is focusing more on movement in a companys stock an= d bond prices.=20 ------------------------------------------------------------- R. W. Beck is an engineering and management consulting firm serving utiliti= es, developers, financiers and governments worldwide. Founded in 1942, we = help our clients face energy market challenges by providing: Portfolio Analysis to improve diversification and risk-adjusted performance= of energy assets. Risk Control to help reduce the probability of losses. Asset Valuation to understand the market value and risk characteristics of = physical and financial energy assets. Training to improve your ability to identify and manage tactical and strate= gic risks.=20 Please visit our web site at http://www.rwbeck.com=20 ------------------------------------------------------------- PanCanadian to Spend C$1.7 Billion This Year PanCanadian Energy plans to spend C$1.7 billion in 2002 to increase both it= s natural gas production and proven oil reserves by 10%. About 70% of the e= xpenditures will be directed at natural gas projects with C$430 million spe= nt on prospects in Canada's East Coast offshore region, the deepwater Gulf = of Mexico and the North Sea. PanCanadian plans to drill 1,800 wells this ye= ar, down from about 2,150 in 2001. Last had major offshore and internationa= l exploration successes, with preliminary results showing that it replaced = about 170% of production. Oil production is expected to decline by 5% year = over year, although phase one work on the Christina Lake oil sands project = will be completed early this year, and has the potential to add significant= reserves and production in the medium term. PanCanadian also is evaluating= production options with its partners at its Buzzard oil project in the Nor= th Sea. PanCanadians share of the discovery is more than 180 million barrel= s of recov! erable crude oil.=20 ------------------------------------------------------------- POWER FUTURES =20 | Month | COB | Change | PV | Change | | FEB | 21.25 | +0.00 | 22.95 | +0.00 | | MAR | 18.50 | +0.00 | 22.60 | +0.00 | | APR | 20.00 | +0.00 | 23.75 | +0.00 | | MAY | 18.25 | +0.00 | 24.75 | +0.00 | | JUN | 20.00 | +0.00 | 28.75 | +0.00 | | JUL | 29.50 | +0.00 | 38.25 | +0.00 | | AUG | 40.00 | +0.00 | 43.50 | +0.00 | | SEP | 34.00 | +0.00 | 33.25 | +0.00 | | OCT | 28.00 | +0.00 | 27.00 | +0.00 | | NOV | 27.50 | +0.00 | 26.00 | +0.00 | | DEC | 28.50 | +0.00 | 26.50 | +0.00 | | JAN | 28.50 | +0.00 | 28.00 | +0.00 | | Month | Entergy | Change | Cinergy | Change | | FEB | 18.65 | +0.00 | 19.55 | +0.00 | | MAR | 19.50 | +0.00 | 20.80 | +0.00 | | APR | 19.50 | +0.00 | 20.80 | +0.00 | | MAY | 22.75 | +0.00 | 24.70 | +0.00 | | JUN | 22.70 | +0.00 | 29.15 | +0.00 | | JUL | 34.00 | +0.00 | 37.30 | +0.00 | | AUG | 34.00 | +0.00 | 37.30 | +0.00 | | SEP | 21.60 | +0.00 | 22.25 | +0.00 | | OCT | 21.30 | +0.00 | 21.85 | +0.00 | | NOV | 21.30 | +0.00 | 21.85 | +0.00 | | DEC | 21.30 | +0.00 | 21.85 | +0.00 | | JAN | 24.00 | +0.00 | 25.00 | +0.00 | ------------------------------------------------------------- Power Futures =20 | Month | PJM | Change | | FEB | 23.65 | +0.00 | | MAR | 23.85 | +0.00 | | APR | 23.85 | +0.00 | | MAY | 27.00 | +0.00 | | JUN | 33.50 | +0.00 | | JUL | 44.25 | +0.00 | | AUG | 44.25 | +0.00 | | SEP | 24.70 | +0.00 | | OCT | 24.70 | +0.00 | | NOV | 24.70 | +0.00 | | DEC | 24.70 | +0.00 | | JAN | 28.05 | +0.00 | ------------------------------------------------------------- PNM Plans to Retire Transmission Line Debt Public Service Company of New Mexico has asked the New Mexico Public Regula= tion Commission for authority to enter into a transaction that would cause = the retirement of $27 million of Secured Facility Bonds due 2012. The propo= sed transaction will reduce PNM's long-term debt and give the company major= ity ownership of the 216-mile long Eastern Interconnection Project line, wh= ich connects PNM and the Western US with the West Texas electrical grid. PN= M entered into a sale-leaseback arrangement in 1985 that allowed the compan= y to levelize the EIP's cost to PNM and its customers over the lease period= . The proposal would result in the redemption on April 1, 2002 of the Secur= ed Facility Bonds at a price of $1054.30 per $1000 principal plus accrued i= nterest to April 1, 2002.=20 ------------------------------------------------------------- Energy Seminars, Inc. Announces Key Seminar Offerings for January: Energy Seminars will be going to Florida and Calgary in 2002! Click to http://www.energyseminars.com to see our 2002 schedule. Register on-line at http://www.energyseminars.com or call Registrar Gina P= atrick Phone: 281-362-7979 FAX: 281-296-9922 ---------------------------------------------------------------------------= ----------------------------------------------- House Energy Committee to Subpoena Andersen Executives The House of Representatives Energy and Commerce Committee will subpoena fo= ur former and current executives of Andersen to appear at a hearing on the = accounting firm's role in the Enron fiasco. The four to be subpoenaed are: = CEO Joseph Berardino, fired Andersen partner David Duncan, and managers Mic= hael Odom and Nancy Temple. The oversight and investigations subcommittee o= f the Energy Committee has scheduled hearings for tomorrow. The full commit= tee has also scheduled a hearing for next week. Opening remarks will be mad= e on January 29th, with a full committee hearing to follow on January 30th.= =20 ------------------------------------------------------------- Progas Storage Services, Inc Was recently organized to offer specialized natural gas storage services to= marketers and end users servicing the upper Midwest and Northeast market r= egions along the major transmission systems in Indiana, Illinois, Kentucky,= and Michigan. PGSMI has 10 bcf of potential working capacity which will of= fer service along TXG, ANR, Midwestern, and is currently evaluating for pur= chase another 21 bcf of potential working capacity which can be serviced by= these and other systems in the region. PGSMI also explores for natural gas= in the Gulf Coast region through a wholly owned subsidiary. Progas intends= to go public through a route of private industry offerings, and an IPO or = registration. For more information on services or the company mail to: gast= orage@aol.com or for AOL mail to gastorage@aol.com ;=20 The company's executive and administrative office is located in Abilene, Te= xas with storage operations in Owensboro, KY and exploration operations in = Corpus Christi, TX. Progas Storage Services, Inc =20 8610 S. Hwy 277 Abilene, TX 79606 Ph 915 698 3699 Fx 915 698 2859 ------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 slid 23.56 points to 7559.29 The CRB Index dropped 0.98 points to 189.09 The US Dollar increased 0.06 points to 117.57 The Dow declined 58.05 points to 9713.80 The S?500 fell 8.27 points to 1119.31 The Nasdaq was down 47.81 points to 1882.53 February NYMEX Crude Oil rose 0.34 to 18.34 Canadian-US Exchange dipped 0.0049 to 1.6083 ------------------------------------------------------------- Pure Text, Lotus, AOL, Yahoo, Excite, Readers-subscribe by writing to:enerf= ax-subscribe@egroups.com=20 Outlook Email Readers-subscribe to webmail by writing to: mailto:join-EnerfaxDaily@relay.netatlantic.com=20 ------------------------------------------------------------- ENERGY MANAGEMENT INSTITUTE Higher Education for refined product professionals NOW ENROLLING RISK MANAGEMENT COURSES: PROFESSIONAL GASOLINE AND DISTILLATE MANAGEMENT, PETROLEUM MARKETER, and ADVANCED GASOLINE AND DISTILLATE MASTE= R LEVEL. REGISTER NOW, CLASS SIZES ARE LIMITED. SEE COMPLETE DETAILS CLICK HERE: http://www.energyinstitution.org To view past issues of Enerfax Daily -Sign up for free at Divine's Sagewav= e athttp://www.sagewave.com/D2/autolog/common/log.asp?KEY=3Denerfax=20 ------------------------------------------------------------- Please welcome our advertisers by visiting these websites.http://www.e-acum= en.com http://www.kwi.com/ http://www.fea.com/ http://www.caminus.com/ http= ://www.progas.net/wip http://www.ziffenergyconferences.com/ http://www.ener= gyseminars.com http://www.desert-crossing.com http://www.epis.com http://ww= w.rwbeck.com http://www.NewEnergyAssoc.com =20 Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service .
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