Re:

Thanks for the clarifications.

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

Jeff - Jupiter is in doubt as a fourth quarter deal due to Massey's inability
to focus on the deal. They are still trying to solve their waste coal spill,
and are working on the reverse spinoff from Fluor. I talked with Don
Blakenship today, and he says they are still trying to do the deal this
quarter - I obviously have my doubts, and moved it to Q1.

British Energy is being pushed to Q1 as well. BE has declared their option
tons and are delaying deliveries under our existing contract through April.
They are hoping to miss the current bullish market by waiting to begin
serious negotiations until early next year.

From: Jeffrey A Shankman 11/13/2000 07:08 PM

To: George McClellan/HOU/ECT@ECT
cc:
Subject:

George, I just saw the updated 4Q earnings outlook, and saw Jupiter, and
British energy off the sheet. Is Jupiter off because of the Massey problems
you mentioned today. What about British energy....

Jeff