Kinder/Morgan PRM Structure

The meeting Don and I had with Kinder/Morgan to discuss his Price Risk
Management Product went really well. We met with Park Schaper (CFO), Anthony
Lannie (President of Power Group) and Jay Hopper (VP and General Manager) was
on the phone from Denver. They were very interested with regards to
potentially replacing long term tolling agreements with this product. Enron
could provide a five year toll and the product would begin in the sixth year
through year 15 or 20.
We talked very little about their existing projects; Little Rock and
Michigan. They do have all the permits for the Little Rock site and are
moving forward with the Michigan site and still do not have any tolling
agreements in place for those projects.
The ball is currently in their court and were going to get back with Scot
with respects to the projects and with Tom on the PRM Product. Please let me
know if you have any questions with this matter. Thanks!
Ben