EFTA01447184

Cc: Tazia Smith; Paul Morris; Jatin Bindal Subject: RE: Oil update [C] Classification: Confidential Oil just popped. A couple of factors, the DOE short term report cut OPEC spare capacity projections and also cut non- OPEC production estimates. We have rallied up to $101.53 in M4 (up nearly .80 from this morning). The collar is now trading at $2.00 Thanks, Matt Matthew O'Connor Managing Director I Commodity Investor Sales Deutsche Sank AG 80 Wall Street New York. NY Tel. Email From: Matthew OConnor Sent: Tuesday, April 08, 2014 7:57 AM To: Matthew OConnor; ieevacationOiamail.com Cc: Tazia Smith; Paul Morris; Jatin Bindal Subject: RE: Oil update [C] Classification: Confidential Good morning Jeffrey — We are trading very similar to where we were Friday morning after this morning's large rally. M4 WTI is trading $100.74 and the 93.5/101 collar is now worth $1.55 again. You can see the decay kicking in a bit as we are 12c higher in flat price, but the option is worth the same as Friday. To give you a sense, the collar closed yesterday (before the big rally) at $1.10. Thanks, Matt From: Matthew ()Connor Sent: Friday, April 04, 2014 10:40 AM To: '[email protected]' Cc: Tazia Smith; Paul Morris; Jatin Bindal Subject: Oil update [C] Classification: Confidential Jeffrey — CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 101739 CONFIDENTIAL SDNY_GM_00247923 EFTA01447184