Subject: re: Update
From: "Wade Randlett" <[email-masked]>
To: "Eric Schwerin" <[email-masked]>
Cc: <[email-masked]>
Date: Wed, 10 Mar 2010 11:34:57 -0800

Makes sense.  Not much we can do until they know who the other party is in the triangle negotiations...

Best,
/w
-------------------------------
Wade Randlett
Co-founder

NextFuels, Inc.

381 Bush Street
Suite 300
San Francisco, CA 94104
415-397-3767
415-397-3768 fax

----------------------- Original Message -----------------------

From: Eric Schwerin <[email-masked]>

To: [email-masked]

Cc: [email-masked]

Date: Wed, 10 Mar 2010 14:24:12 -0500

Subject: Update

Wade-

The latest info we have heard is that the meeting on Monday didn’t really get them to any conclusion on the deal.  There is a belief that Valero is still shopping around for a better deal, but the State officials involved believe it is still better than a 50/50 chance that Valero will sell to PBF (the Blackstone group) and that Valero will realize PBF is the best offer.  The State would very much prefer that it is PBF.  Just taking longer than they thought, which shouldn’t be surprising given most negotiations like this.

We may get a little more info later this week.  We’ll let you know when we hear more.

Best,

Eric

Eric D. Schwerin

Rosemont Seneca Partners, LLC

1010 Wisconsin Ave., NW

Suite 705

Washington, DC 20007

(202) 333-1880

[email-masked]

P Consider the environment before printing this email.

conversation-id 114484 date-last-viewed 0 date-received 1268249684 flags 8623750145 remote-id 6385