RE: ERV Notification: Violation/Notification Memo 10/16/01 The notification is now published to the Executive Reports Viewer website - erv.corp.enron.com,  and is available for viewing.


 -----Original Message-----
From: 	Thibodeaux, Kenneth  
Sent:	Wednesday, October 17, 2001 10:24 AM
To:	Buy, Rick; Frevert, Mark; Lay, Kenneth; Port, David; Whalley, Greg; Schultz, Cassandra; Murphy, Ted; Hayden, Frank
Cc:	Wilson, Shona; Abel, Chris; Allison, John; Wallace, Cassi
Subject:	RE: ERV Notification: Violation/Notification Memo 10/16/01

We are having technical difficulties with the ERV website at this time.  We will send another notification to you as soon as the problem has been resolved and the notification is listed on the website.

Notification: Concentration Americas Natural Gas Total P&L

Limit: $100 million
DPR report P&L: $119 million

Explanation:  The loss was a result of increased prices on short positions.  Specifically:
-Positions: 
Short positions in U.S. Gas (341 BCF), Canada Power Gas (214 BCF), and Cross Commodity Gas (214 BCF)
- Prices:
NYMEX prices increased $.21 on news of Solomon Smith Barney's revised Winter 01-02 forecast
Cash prices increased $.15-$.30 across all regions of the country


