[dialing/ ringing]

MIKE: Williams, this is Mike.
MATI: Mike, this is Matt Motley, how are you?
MIKE: Hey hubba, what's going on?
MATT: Not a lot. Q3, COB, off peak, South to North, I don't think we have any
interest. However, we would buy North/South at 245 if you have interest there.
MIKE: OK, um, let's see what - ah, I don't know if I can get it North/South, I'll have
9 to check on it and I'll call you back, though.

MATT: OK. 'Cause the South to North is basically just buying NP15 for the most -
most part. It gets really tough right now for people to get you to, um, because to do the
ricochet, South/North and then the ricochet back North/South -
MIKE: Bonneville won't, um, uh -
MATT: Wont' allow it.
MIKE: -- they - they won't allow you to do the flip flop. They used to do it.
MATT: Right.
MIKE: And a lot of people used to let you do it for about 50 cents?
MATT: Yeah.
MIKE: But that, um, uh, the paradigm has shifted -
MATI: Right.
MIKE: Um -
MATI: Right.
MIKE: Um, but we would if you, you know, if you could do North/South, we would do
that.
MATT: OK.
MIKE: Um, otherwise the South/North doesn't, uh, doesn't really fit us.
MATT: OK. Well let me work it and I'll call and let you know.
MIKE: Thanks a lot.


1 MATT: Thanks, bud.
2 MIKE: See you.