From: 1 <[email protected]> Sent: Thursday, November 15, 2018 8:01 PM To: Richard Kahn Subject: Fwd: Crude Oil Trades ------ =--- Forwarded messa e From: Shahzad Shahbaz <mailtc Date: Thu, Nov 15= 2018 at 2:44 PM Subject: Crude Oil Trades To: jeffrey E. <[email protected]> <=r> Jeffrey, Hope you are well. HE Sheikh Hamad and Sheikh Jabor asked me to drop you a line on what we are=doing in the crude oil space. It is very simple and plain vanilla; • Selling puts with strikes of 90% and 85% for 6/12 months to gener=te premiums. • Buying oil forward for 6/12 months through futures contracts and/=r swaps. • We have looked at some collars/ratio collars but did not transact= Hope the above is useful. Please let me know if you have any questions. Thanks Shahzad. please note The information contained in t=is communication is confidential, may be attorney-client privileged, ma= constitute inside information, and is intended only for the use of =he addressee. It is the property of JEE Unauthorized use, disclosure=or copying of this communication or any part thereof is strictly prohib=ted and may be unlawful. If you have received this communication in =rror, please notify us immediately by return e-mail or by e-mail to [email protected]=m, and destroy this communication and all copies thereof, includ=ng all attachments. copyright -all rights reserved EFTA_R1_01820627 EFTA02617918

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