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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: chowder who wrote (26185)10/6/2003 7:04:18 PM
From: chowder  Read Replies (1) of 206326
 
6:45pm 10/06/03

El Paso power plant restructurings investigated by SEC (EP) By Carolyn Pritchard

SAN FRANCISCO (CBS.MW) -- El Paso Corp. (EP) said late Monday that the Securities and Exchange Commission is investigating reports the company filed related to certain power plant contract restructurings and the related disclosures and accounting treatment for the restructured power contracts. The investigation is looking in particular at the Eagle Point restructuring transaction completed in 2002, according to a company statement released by El Paso. The company said it intends to cooperate fully with the SEC investigation. Shares of El Paso ended Monday's session up 15 cents at $7.85.
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