re : enron position . hello all .
we just received notification that our bank has received the cad $ 3 mm out of
cad $ 8 mm originally expected .
thanks
kenny
- - - - - original message - - - - -
from : kenny foo [ mailto : kenny . foo @ ngx . com ]
sent : monday , november 26 , 2001 1 : 44 pm
to : ' jason williams ( e - mail ) ' ; ' randy otto ( e - mail ) ' ; ' mike cowan ( e - mail ) '
cc : ' louise kitchen ( e - mail ) ' ; gary gault ; ron manitowich
subject : enron position .
importance : high
it has been our understanding ( credit area , both companies ) that enron must
prepay for all its purchases including all forward positions ever since
enron was downgraded to bbb minus . unfortunately for enron canada corp . , i
cannot convince my board nor my bank to do otherwise .
enron will still get interest from pre - payments that have not been used to
pay for gas that has already been delivered and invoiced .
with the above in mind , here is the current status :
cad $
$ carried forward from yesterday 2 , 725 , 000
today ' s purchases ( 14 , 225 , 000 ) large part of which is dec gas
today ' s wire 8 , 000 , 000 which incidentally has not arrived as yet
balance ( short ) ( 3 , 500 , 000 )
jason , kindly
* please followup with your treasury area to see where cad $ 8 mm is ?
* please , for today ' s value date , arrange to send another cad $ 3 . 5 mm plus
whatever $ $ your traders need for tomorrow ?
* your calgary traders have another 30 tjs of room for day gas at time of
writing this email ( purchases so far today 3 , 660 tjs ) . once the 30 tjs is
filled , you will be halted .
we thank you for your co - operation .
kenny foo
credit and risk manager
ngx financial inc
140 - 4 avenue sw , suite 2330
calgary , alberta , t 2 p 3 n 3
ph : ( 403 ) 974 - 1737
fx : ( 403 ) 974 - 1719
re : enron position .
hello all .
we just received notification that our bank has received the cad $ 3 mm out of
cad $ 8 mm originally expected .
thanks
kenny
- - - - - original message - - - - -
from : kenny foo [ mailto : kenny . foo @ ngx . com ]
sent : monday , november 26 , 2001 1 : 44 pm
to : ' jason williams ( e - mail ) ' ; ' randy otto ( e - mail ) ' ; ' mike cowan ( e - mail ) '
cc : ' louise kitchen ( e - mail ) ' ; gary gault ; ron manitowich
subject : enron position .
importance : high
it has been our understanding ( credit area , both companies ) that enron must
prepay for all its purchases including all forward positions ever since
enron was downgraded to bbb minus . unfortunately for enron canada corp . , i
cannot convince my board nor my bank to do otherwise .
enron will still get interest from pre - payments that have not been used to
pay for gas that has already been delivered and invoiced .
with the above in mind , here is the current status :
cad $
$ carried forward from yesterday 2 , 725 , 000
today ' s purchases ( 14 , 225 , 000 ) large part of which is dec gas
today ' s wire 8 , 000 , 000 which incidentally has not arrived as yet
balance ( short ) ( 3 , 500 , 000 )
jason , kindly
* please followup with your treasury area to see where cad $ 8 mm is ?
* please , for today ' s value date , arrange to send another cad $ 3 . 5 mm plus
whatever $ $ your traders need for tomorrow ?
* your calgary traders have another 30 tjs of room for day gas at time of
writing this email ( purchases so far today 3 , 660 tjs ) . once the 30 tjs is
filled , you will be halted .
we thank you for your co - operation .
kenny foo
credit and risk manager
ngx financial inc
140 - 4 avenue sw , suite 2330
calgary , alberta , t 2 p 3 n 3
ph : ( 403 ) 974 - 1737
fx : ( 403 ) 974 - 1719