It indicates that the system might be infected by the Agobot/Phatbot trojan and is making a peer-to-peer (P2P) connection.
This backdoor trojan is known to:
1) scan local networks for common Microsoft vulnerabilities
2) scan local networks for exploitable DameWare systems
3) brute force local Microsoft machine User accounts
4) connect to an IRC channel and set up a BOT for remote command