RE: Stagecoach

John,

Thanks for the upate. Sorry to hear this deal has been further delayed. The updated gas price is 4.625 as of last night's curves.

Thanks,

Charlie

-----Original Message-----
From: Kiani-Aslani, John
Sent: Thursday, May 24, 2001 5:27 PM
To: Weldon, V. Charles
Cc: Tefel, Maria
Subject: Stagecoach

Charlie,

Here is an update on Stagecoach: Tennessee Gas Pipeline had to re-file their case with the FERC, which will unfortunately delay the deal and push it out of Q2 and into Q3 or Q4. We were told to update the model (and all pricing) so we know where we stand on our valuation at this point. Can you please update the gas price for us when you have a chance? The load factors and the associated volumes are unchanged from the last information that we sent to you.

Please let me know if you have any questions or need more information.

Thanks,

John