Enron North America (ENA) is interested in purchasing Phillips Petroleum
Company's volumes in the properties described in the attached E-mail dated
9/19/2000. ENA would like to propose the following prices. Prices assume
gas is being delivered to a pool. If this is not the case please let us know
as prices would need to be adjusted for applicable transportation, fuel and
gathering and possibly price if the point is at a constrained location.
ANR S.E. Gathered -
Inside F.E.R.C. ANR LA + $.0025
Columbia Gulf - Inside
F.E.R.C. COLUMBIA LA + $.0075
Destin - Inside F.E.R.C.
TRANSCO Zone 3 + $.01
Sonat - Inside F.E.R.C.
SONAT + $.0075
Tennessee - Inside
F.E.R.C. TENNESSEE LA + $.0075
Tetco - Inside F.E.R.C.
TETCO WLA + $.0075
Venice - Inside F.E.R.C.
TETCO ELA + $.0175
Trunkline - Inside
F.E.R.C. TRUNKLINE LA + $.00
Transco - Inside
F.E.R.C. TRANSCO + $.0125
This E-mail is for discussion purposes only and is not intended to be
complete and all inclusive of the terms of the related transaction. The
tranactions described herein are subject to further review and approval of
ENA and execution of difinitive agreements containing all appropriate
provisions, including those relating to credit and limitaion of damages.