Ken, I have taken a look at the material you had sent me on the ARC Northern  Gas Pipeline Route.
Ultimately, I believe that ARC is looking for certain  strategic investors to provide founding capital to fund the development of  this proposal.
To the extent that this is a open access non-discriminatory  pipe, ENA's opportunity lies in being a shipper to capitalize on basis  markets or customer transactions that provide attractive risk reward  characteristics.
Other than understanding the potential flows and costs,  there is probably not much we need to do today given a 2006 start from an ENA  point of view.
The ARC consortium needs to fund approximately $30M to develop this project.
The US and Canadian aboriginal groups will receive 33% ownership for $10M.
the remaining $20M and 67% will be funded by a group of producers, pipelines,  venture capital and the "organizing group" (40%!!).
Stan Horton, if he  believes this is a commercial possibility, may want to provide a few million  of founding capital to the venture in order to preserve him the option to  participate as an equity holder or operator if this becomes a reality.
Regards

ARC
Ken, I have taken a look at the material you had sent me on the ARC Northern Gas Pipeline Route.
Ultimately, I believe that ARC is looking for certain strategic investors to provide founding capital to fund the development of this proposal.
To the extent that this is a open access non-discriminatory pipe, <COMPANY>'s opportunity lies in being a shipper to capitalize on basis markets or customer transactions that provide attractive risk reward characteristics.
Other than understanding the potential flows and costs, there is probably not much we need to do today given a <NUMBER> start from an <COMPANY> point of view.
The ARC consortium needs to fund approximately <CUR>00M to develop this project.
The US and Canadian aboriginal groups will receive <NUMBER>% ownership for <CUR>00M.
the remaining <CUR>00M and <NUMBER>% will be funded by a group of producers, pipelines, venture capital and the "organizing group" (<NUMBER>%!!).
Stan Horton, if he believes this is a commercial possibility, may want to provide a few million of founding capital to the venture in order to preserve him the option to participate as an equity holder or operator if this becomes a reality.
Regards
order preserve option look material sent non discriminatory stan horton believes capitalize basis characteristics understanding potential view arc pipe company opportunity today given number funded group