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<br />f'"' <br />~ <br /> <br />~,,~ <br />"',,"'" <br />,~ <br />(.. ~ <br />C.) <br /> <br />.. <br /> <br />. <br /> <br />. <br /> <br />Congress. They expressed the belief that the Project seemed <br />a highly workable solution to the Nation's productivity, <br />energy, and pollution problems. <br /> <br />3.2 <br /> <br />ANTICIPATED SEPTEMBER EVENTS <br /> <br />McKeever to speak at American Mining Congress in San Francisco, <br />September 13. <br /> <br />Port Authority representatives from Los Angeles and Long <br />Beach, California, have requested a briefing to be held <br />in Denver, September 23. <br /> <br />4.0 SUBTEAM: FINANCIAL/ECONOMIC (McKeever) <br />4.1 AUGUST EVENTS <br /> <br />W. R. Grace & Co. is negotiating with a venture capital <br />group for the sale of Aquatrain, Inc. Clinton met with <br />Tom Fowler of W. R. Grace in Dallas, Texas, to discuss the <br />sale. Grace believes the project has a better chance of <br />success under the management of people who have built pipelines <br />and formed new companies. <br /> <br />A number of entities, including coal concerns, expressed <br />interest in financing Aquatrain, Inc. This recent interest <br />apparently was sparked by a Helene Monberg article regarding <br />the possible sale of Aquatrain, Inc. <br /> <br />McKeever, Clinton, Fite, Sturges-Murray, and Legal met with <br />representatives of International Engineering Company and <br />Ernst and Whinney representatives to discuss AQUATRAIN cost <br />estimates, cash flow, and financing. The group agreed to <br />procedures for completing cost estimates and financial analyses <br />for presentation of potential equity partners. <br /> <br />4.2 ANTICIPATED SEPTEMBER EVENTS <br /> <br />Complete cost estimates and financial analysis on Stage <br />III facilities to Pacific Coast. <br /> <br />4.3 ANTICIPATED OCTOBER EVENTS <br /> <br />Tentative meeting planned to brief potential coal suppliers, <br />utilities, transportation companies and other equity partners <br />on the status of AQUATRAIN. <br /> <br />5.0 SUBTEAM: TECHNICAL/ENGINEERING (Legal) <br /> <br />5.1 AUGUST EVENTS <br /> <br />Capital and O&M cost estimates for Stages I and II were <br />completed by International Engineering Company (IECO). <br />Stage III figures have been prepared in draft form. <br /> <br />2 <br />