Enron North America is interested in selling natural gas to  PNM Gas Services  on a firm basis under the following terms and conditions:   Term:  April 1, 2001- March 31, 2002  Contract Price:  I.F.
El Paso San Juan Basin less $.09  Firm Daily Quantitiy:  10000 mmbtu/day    Delivery Point(s):  Delivered to PNMGS at the tailgate of the Williams Field  Serives Ignacio Plant into Transwestern at Ignacio Plant;at the TW Blanco Hub  ; at WFS Kutz Plant into PNMGS; Milagro Plant into  Blanco Hub; or any other  mutually agreeable pointsinto PNMGS.
Special Conditions:  ENA will selelct, nominate, and deliver the firm daily quantity at any of the  Delivery Point(s).
ENA will notify PNM no later than 3:30 p.m. M.T.
one day  prior to gas flow day (Cycle 2) of the selected Delivery Point(s).

Term Proposal