Enserco energy Inc. Bill:
Here is what Enserco is willing to do:

They are willing to extend the term of the $million LC to January 31st if we agree to extend the January due dates on settlement payments for physical gas and financial trades to January 31st.  They believe that they have a good argument against our right to declare an Event of Default based on their failure to renew and the LC will expire on 12/31.  It is questionable under the ISDA whether they are required to renew while we are in default.

Leslie:

I need to know what payments are owed in December and January between ENA and Enserco for physical gas and financial trades under the ISDA.

Lisa, Julia and Lou:
Would EY need to approve this?




Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-3393 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
carol.st.clair@enron.com


