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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (5012)	11/12/2001 4:18:23 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 33421

John: ENE from my understanding in its need for recent financing pledged its prized pipeline assets for the recent loans (I think it was a guarantee for $1B or $2B in loans). This was right after the draw down in the credit line of $3 billion. So selling them DYN would be difficult without the lenders approval. You can bet the creditors will be helping DYN win approval. I doubt there is much security on the $3B credit line. Tim edit - if the deal falls thru the unsecured bonds will not be worth much so I guess the analyst comment is right where one would be better off with the bonds but not by much.

To: John Pitera who wrote (5012)	11/12/2001 4:31:22 PM
From: All Mtn Ski	Read Replies (1) \| Respond to of 33421

John, Thanks for the article, it sure seems like a win win for DYN. What a fall from grace for ENE, amazing. Well, I'm not going to wait for Summer 2002 to see if this closes, nor do I like waiting for another shoe to hit me in the face, so I'll probably sell my ENE in the next few days, the real stock to own here is DYN. Tom