The product type long description below will fall under the new product type 
US WTI Phy Exchange (Platts Indexed Commodities).  Credit (Tom Moran) has 
approved copying the profiles for the new product type from the following:

 US Crude WTI Physical Forward

Please respond by 10 a.m. on Wednesday, March 21.

Thank you.  Lisa
---------------------- Forwarded by Lisa Lees/HOU/ECT on 03/20/2001 03:00 PM 
---------------------------


EXAMPLE:

US WTI Phy Exch  Platts WTI / ANS        Month/Yr           USD/bbl

Product Type Long descripton:
A US Crude Transaction with Enron Reserve Acquisition Corp. (ERAC), under 
which (A) where ERAC is the Buyer,  ERAC shall sell and deliver  to 
Counterparty and Counterparty  shall purchase and receive a quantity of West 
Texas Intermediate crude oil deemed gravity 40 API ("WTI") at Cushing, 
Oklahoma U.S.A. TEPPCO Crude Pipeline, L.P. ("Cushing") equal to the volume 
submitted by the Counterparty via the Website for delivery during the term of 
the Transaction, and  Counterparty shall sell and deliver to ERAC and ERAC 
shall purchase and receive the same volume of Exchange Product in equal parts 
for delivery during the term of the Transaction; and, (B) where ERAC is the 
Seller, Counterparty shall sell and deliver to ERAC and ERAC shall purchase 
and receive  a quantity of WTI at Cushing equal to the volume submitted by 
the Counterparty via the Website for delivery during the term of the 
Transaction, and ERAC shall sell and deliver  to Counterparty and 
Counterparty shall purchase and receive the same volume of Exchange Product 
in equal parts  for delivery during the term of the Transaction.  The price 
for WTI shall be the midpoint of the daily first line quotations for 
(WTI/(MONTH) under the heading "U.S. $/Bbl" in the Crude Price Assessments 
section of Platt's Oilgram Price Report for the issue of publication on the 
date of the Transaction ("Index Price").  The price for Exchange Product 
shall equal (i) the Index Price, plus (ii) the Adjusted Price.  The Bid Price 
represents the Adjusted  Price for Exchange Product  under Section A above. 
The Offer Price represents the Adjusted Price for Exchange Product  under 
Section B above.

Term of the Product:
The term of the Transaction shall be from the Effective Date to the 
Termination Date. The Effective Date is {DATE}.   The Termination Date is  
{DATE}.

Location of the Example Product:
The delivery of Alaskan North Slope ("Exchange Product") shall be at Long 
Beach, California.

Currency:
The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.

UOM:
The unit of measure in which the price is quoted is in Barrels per day and 
the quantity shown shall be in Barrels per day.
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