Letter Report on Potential Terminal Volumes for the Texas Deepwater Port Authority

Pursuant to your request, we have assessed the likely use of the proposed offshore deepwater oil port to be constructed and operated by the Texas Deepwater Port Authority (TDPA). In order to establish a basis for our assessment, we have reviews data and information prepared in support of an application for a permit by Seadock, Inc., contained in a report by Sherman H. Clark Associates dated July 1975, hereinafter called the "Clark Report." Basic data used in the Clark report generally were available through 1973 and in some cases through 1974. We also have reviewed the various factors considered and the forecasts made in the Clark report as they relate to subsequent occurrences and data that have become available sine 1975.