From: "Barrett, Paul S" <ta

From: "Barrett, Paul S" <ta To: "Epstein, Jeffrey ([email protected])" <[email protected]> CC: "Weissend, Renee E" Subject: Brent Options Date: Tue, 15 Jan 2013 16:07:06 +0000 Jeffrey Our remaining Brent risk reversal comes off in early Feb. Curve remains slightly backwardated. Would you like me to price up some new options? Spot has been range bound between 105-115 for the past 6 months. Our forecast calls for $120/bbl by year end. Paul Paul Barrett I Managing Director I Global Investment Opportunities Group I 3.P. Morgan Private Bank Disclosures regarding email content of the Sales and Trading Department are available at http://www.jmnorgan.com/pages/disclosures/GWM_Disclosures This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at hup://www.jpmorgan.comMagesedisclosurestemail. EFTA00700887