Enron Hits Back At Indian State In Long Dispute Over Power Fees
The Wall Street Journal, 05/21/01

Saudis Signal Bigger Is Better In Gas Project
The Wall Street Journal, 05/21/01

Corrections & Amplifications
The Wall Street Journal, 05/21/01

Power: Bush Plan, Davis Reactions
Los Angeles Times, 05/21/01

Enron pulls out of multi-billion-dollar Gulf gas network
AFX News, 05/21/01

UAE: UPDATE 2-Enron sells stake in Dolphin project.
Reuters English News Service, 05/21/01

UK PRESS: Energy Grps May Express Interest In Montedison
Dow Jones International News, 05/21/01

INDIA: India's Enron lenders to lobby for government help.
Reuters English News Service, 05/21/01

Dabhol project suffers $400-m cost overruns
The Economic Times, 05/21/01

The mouth that roared
The San Francisco Chronicle, 05/21/01

COMMENT & ANALYSIS: India's power struggles: Enron's plight could mark a
turning point in India's attempts to attract foreign investment, says David
Gardner: Financial Times; May 21, 2001

Enron Withdraws From U.A.E.'s $2 Bln Gas Project (Update1)
Bloomberg, 05/21/01

Lenders to Enron's Indian Unit Hoping for Solution (Update1)
Bloomberg, 05/21/01

State Bank, ICICI Decline as Enron Plans to Pull Out of India
Bloomberg, 05/21/01

ANZ Investment's Rangnekar on Loans to Power Companies: Comment
Bloomberg, 05/21/01

International
Enron Hits Back At Indian State In Long Dispute Over Power Fees
By Jesse Pesta
Staff Reporter of The Wall Street Journal

05/21/2001
The Wall Street Journal
A14
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -- Enron Corp.'s troubled Indian power project turned up the heat
in its battle with its only customer, the Maharashtra State Electricity
Board, by taking a formal step toward ending its contract in six months.
Dabhol Power Corp. also outlined the key points it says should underpin
future negotiations in the dispute over unpaid bills.
The fight between Dabhol and Maharashtra is closely watched because the $3
billion power plant near Bombay is India's largest foreign investment.
Dabhol, of which Enron owns 65%, says it's owed $48 million in unpaid bills
by the state electricity board for December and January. However, the
cash-strapped electricity board counters that Dabhol owes it four billion
rupees ($85 million) in fines for a service lapse around the same time, which
Dabhol disputes.
On Saturday, Dabhol issued a preliminary termination notice, the first of
several prescribed steps toward ending the contract. It triggers a six-month
cooling-off period.
"After months of working with Maharashtra State Electricity Board, government
of Maharashtra and government of India to find solutions, it is apparent that
MSEB and [Maharashtra] are unwilling to honor their...commitments," Dabhol
said. The statement also blasted India's central government, saying it
recently failed to send a representative to the first round of talks over the
dispute. Dabhol holds a guarantee from the central government to cover
payment defaults.
Vinay Bansal, chairman of the Maharashtra State Electricity Board, said he
received Dabhol's notice and will respond, although "we will take some time;
we have the six-month suspension to work with," he said. In the meantime, he
expects negotiations to continue. The state government has set up a panel,
the Godbole Committee, to study the contract between Dabhol and the
electricity board. Dabhol's critics say its rates are unreasonably high.
Dabhol has said its rates aren't out of line.
Dabhol's weekend statement also outlined its terms for resolving the problem,
saying a solution can occur only if the parties contractually bound to
purchase Dabhol's power -- the electricity board, with guarantees from the
state and national governments -- "are willing to either purchase themselves
or find other creditworthy entities" willing to buy electricity from Dabhol's
2,184-megawatt plant. Those requirements "should form the basis for any
future discussions," Dabhol said, "and not the Godbole Committee report."
Mr. Bansal, electricity-board chairman, responded yesterday that the "Godbole
Committee is the forum available for negotiations." He added that "all
discussions should be without prejudice and precondition, and all solutions
will have to be explored."

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Economy
Saudis Signal Bigger Is Better In Gas Project
By Thaddeus Herrick
Staff Reporter of The Wall Street Journal

05/21/2001
The Wall Street Journal
A2
(Copyright (c) 2001, Dow Jones & Company, Inc.)

In tapping some of the world's largest oil companies to help build a
multibillion-dollar natural-gas infrastructure, Saudi Arabia is signaling
that bigger really is better in competing on the world stage.
The oil industry has been notable for its huge mergers in recent years as
Exxon Corp. joined with Mobil Corp., British Petroleum PLC gobbled up two big
American companies, and TotalFinaElf SA of Paris was formed from three
European companies. In consolidating, the companies said that they needed
heft and deep pockets to bid for projects like Saudi Arabia's and match
effectively with national oil companies.
Friday, Saudi Arabia said it picked just eight companies to participate in
three projects that are expected to total $25 billion over several years, and
most of the companies selected have grown by mergers or acquisitions in the
past two years.
"This is really a game for the big boys," says Roger Diwan, an analyst with
the Petroleum Finance Co., a consulting firm in Washington, D.C. Mr. Diwan
says the largest companies are willing to take bigger risks, have more
capital and can take a longer view.
Exxon Mobil Corp. of Irving, Texas, and the Anglo-Dutch Royal Dutch/Shell
Group each will participate in two of the three projects. Other participants
include London-based BP PLC, TotalFinaElf and Enron Corp. of Houston, the
only nonoil company chosen. Chevron Corp. of San Francisco, Rome-based ENI
SpA and USX-Marathon Group of Pittsburgh made the short list, but weren't
selected. "Not everyone wanted this badly," Mr. Diwan says. "But no one
wanted to be left out."
The selection comes more than two years after Saudi Crown Prince Abdullah
invited major oil companies to return to the kingdom. For Saudi Arabia, the
gas projects promise to bring in foreign investment that will help create
jobs for the country's booming work force.
Oil companies, however, are hopeful that the foot in the door will someday
lead to a piece of Saudi's oil business as well. Saudi Arabia sits atop more
than a quarter of the world's oil reserves. While oil has been off limits
since the mid-1970s, when the Saudis nationalized the industry, the
international companies are eager to be in position should oil open up again.
"Ultimately, it's oil that everyone is eyeing," said Fadel Gheit, an analyst
with Fahnestock & Co.
While Exxon Mobil was tapped to lead a project along the Red Sea coast,
leaders for the Ghawar and Shaybah projects aren't expected to be chosen
until June. After that, negotiations on terms for the three ventures will get
under way; it may be months before final agreements are signed.
State oil company Saudi Aramco will hold equity in the projects and oversee
them. Though the projects may include some natural-gas exploration, the main
thrust of the ventures is to build natural-gas infrastructure, such as
petrochemical, desalinization and power plants.
Occidental Petroleum Corp., Los Angeles, will join Enron and leader Exxon
Mobil on the Red Sea project. Both Exxon Mobil and Shell were chosen for the
marquee $15 billion Ghawar project, along with BP and Phillips Petroleum Co.
of Bartlesville, Okla. The Shaybah project in the kingdom's Empty Quarter
will include Shell, TotalFinaElf SA and Conoco Inc. of Houston.
Chevron, which has agreed to acquire Texaco Inc., said the Saudi gas
initiative didn't meet the company's business objectives. Chevron bid on the
Ghawar project and hoped to make exploration and production as well as
petrochemical investments, said spokesman Fred Gorrell. But apparently such
investment opportunities weren't offered. Chevron is still thought to be
well-positioned in Saudi Arabia because of Texaco's exploration and
production activity in the so-called neutral zone between Saudi Arabia and
Kuwait.
Industry analysts say Saudi Arabia is also hoping to give Washington more
incentive to protect the kingdom from its Middle East adversaries, while at
the same time allowing the country to keep political distance from the U.S.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Corrections & Amplifications

05/21/2001
The Wall Street Journal
A2
(Copyright (c) 2001, Dow Jones & Company, Inc.)

ENRON Corp. and its employees contributed a total of $1.3 million during the
2000 presidential campaign to George W. Bush's presidential effort, the
Republican Party and the presidential inauguration. A chart accompanying a
page-one article Friday on Enron's political connections mislabeled the total
amount as $1.3 billion.
(See accompanying illustration -- WSJ May 18, 2001)

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

California; Letters Desk
Power: Bush Plan, Davis Reactions

05/21/2001
Los Angeles Times
Home Edition
B-10
Copyright 2001 / The Times Mirror Company

Davis is spouting pure hypocrisy as he takes on Reliant Energy (May 17). He
mentions no word of Enron, another "gouger." Why? Because the state public
employees' retirement system is heavily invested in Enron, and, in fact,
CalPERS has a billion-dollar business deal with Enron aside from stock. The
state and Enron are business partners. CalPERS is also invested in many other
energy companies. If one studies the energy sector of the financial world,
CalPERS is in the midst of everything. And CalPERS, because of its large
stock holdings, has the power of influence over corporate boards.
So Davis, who has spent the past two years raising campaign funds, is really
just laying down a diversion. The state is an energy gouger and profits from
it.
Andy Levinson
Thousand Oaks

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Enron pulls out of multi-billion-dollar Gulf gas network

05/21/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

ABU DHABI (AFX) - Enron Corp pulled out of a project to deliver Qatari gas to
the United Arab Emirates (UAE) by selling its 24.5 pct stake in the Dolphin
Energy Project to its partner, the state-run UAE Offsets Group (UOG).
No price was disclosed.
UOG will own 75.5 pct of DEL, which was set up in July 2000 to implement the
gas project, while TotalFinaElf continues to hold the remaining 24.5 pct.
"The project has evolved into a strong upstream and gas transportation and
delivery project. Enron is not an upstream company," the managing director of
Enron Middle East explained to reporters.
DEL's chairman Ahmad Ali al-Sayegh said new partners would be brought into
the venture to transport 2 bln cubic feet per day (20 mln cubic metres) of
Qatari natural gas by undersea pipeline to the UAE and on to Oman.
Patrick Rambaud, a TotalFinaElf vice president, said his company wanted to
increase its own equity in DEL. "This project fits perfectly with our
strategy for long-term presence in these countries," he said.
The first phase of the gas project has a price tag of between 3.5-4 bln usd.
str/kl/cmr
For more information and to contact AFX: www.afxnews.com and www.afxpress.com

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

UAE: UPDATE 2-Enron sells stake in Dolphin project.
By Ghaida Ghantous

05/21/2001
Reuters English News Service
(C) Reuters Limited 2001.

ABU DHABI, May 21 (Reuters) - U.S. Enron Corp has bowed out of a $3.5 billion
project to route Qatari gas to the United Arab Emirates and sold its stake in
Dolphin Energy Ltd (DEL), the project chairman and U.S. firm announced on
Monday.
Enron sold its stake to the UAE Offsets Group (UOG) for an undisclosed amount.
Richard Bergsieker, the U.S. firm's Middle East managing director, told a
news conference in Abu Dhabi that Enron did not believe it could add much to
the project in its current stage.
"As the project had evolved into a strong upstream gas supply project and gas
transport and delivery, we don't believe there is a lot of value that Enron
can add," he explained.
"The project requires longterm equity investment in upstream and Enron is
frankly not an upstream company."
DEL Chairman Ahmed Ali al-Sayegh had earlier said that Enron had agreed to
transfer its 24.5 percent stake in Dolphin to UOG for an undisclosed amount,
raising the UAE firm's stake to 75.5 percent. TotalFinaElf holds the
remaining stake.
Patrick Rambaud, TotalFinaElf's senior vice president for the Middle East,
said his firm has formally asked UOG to increase its own stake in the
project. Sayegh, however, said UOG was seeking a different partner.
"We are studying the TotalFinaElf request... (but) there will be another
partner in the project," he said. "Starting tomorrow, we will begin
negotiations with the international firms who have shown interest in
acquiring a state. They are more than eight companies."
He refused to name the firms but said "everybody who is working in the Gulf
is interested. We are not in a hurry to choose a partner."
PRODUCTION SHARING DEAL ON SCHEDULE
Qatar and DEL in March signed a "commercial term sheet agreement" which
outlined the conditions of the upstream agreement for the long-awaited $3.5
billion project.
The two sides aim to sign a production sharing agreement by the end of the
third quarter 2001. Sayegh said they would stick to that deadline. "The
latest date is mid-September," he added.
Qatar, which sits on the world's third largest gas reserves, is seeking to
boost its natural gas exports to the Gulf region after investing billions of
dollars to tap its vast gas riches.
The gas deal would entitle DEL to develop a tract of Qatar's giant North
Field and produce up to two billion cubic feet per day (cfd) of gas. UOG is
to invest $2 billion in developing the tract, drilling and setting up
production facilities.
The remaining $1.5 billion would be invested to lay a pipeline and set up
receiving terminals at Dubai's Jebel Ali and Taweelah in Abu Dhabi.
First gas is targeted to reach the UAE capital Abu Dhabi by late 2004 or
early 2005. About one billion to 1.5 billion cfd of Qatari gas would be used
by utilities in Abu Dhabi and the remainder supplied to Dubai.
DEL has started inviting local, regional and international companies to
prequalify for five contracts between May 19-23 following the establishment
of a technical project team to oversee the implementation of the first
cross-border gas pipeline project in the Middle East.
Engineering and construction management firms will have two weeks to submit
their prequalification statement for each contract after the date of the
official announcement.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

UK PRESS: Energy Grps May Express Interest In Montedison

05/21/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

MILAN -(Dow Jones)- Electricite de France's (F.EDF) purchase of 4% of
Montedison SpA (I.MNT) may soon force other large energy groups to express an
interest in the Italian holding company, the Financial Times reported Monday.
Enron (ENE), Vivendi SA (F.VVN), Electrabel (B.ELE), RWE AG (G.RWE) and Eon,
British Gas and others also could make a move to acquire Montedison's Edison
SpA (I.EDS) and Sondel SpA (I.SON) units, industry executives and analysts
say.
Newspaper Web site: http://www.ft.com
-Milan bureau; Dow Jones Newswires; 39(0)2-7601-5386

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

INDIA: India's Enron lenders to lobby for government help.
By Anirban Nag and Sriram Ramakrishnan

05/21/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, May 21 (Reuters) - Indian lenders want the federal government to
intervene after a threat by U.S. energy giant Enron Corp, the country's
largest foreign investor, to walk out of a giant power project put their
loans in jeopardy.
"We want the government to step in and resolve the matter with lenders'
interests in mind. We are continuously monitoring the situation," a senior
official at one of the lenders told Reuters late on Sunday. The official did
not want to be named.
Local lenders including the Industrial Development Bank of India, ICICI Ltd
and the country's largest commercial bank, State Bank of India, stand to lose
if Enron pulls out.
They have lent $1.4 billion out of the project's total cost of $2.9 billion.
The rest of the project is being funded through equity and by loans from
foreign banks led by ABN AMRO
Shares of the local lenders fell in early trade on Monday with IDBI sliding
9.39 percent to 24.60 rupees, SBI dipping 1.1 percent to 233.60, while ICICI
was down six percent to 84.90. The 30-share Bombay index was up 0.17 percent
at 3,661.19 points.
The project is now 90 percent complete, but faces an uncertain future after
Enron's Dabhol Power Company (DPC) on Saturday issued a preliminary notice to
terminate power sales from the plant.
DPC cited payment defaults by the buyer, the Maharashtra State Electricity
Board (MSEB) and non-cooperation from the federal and state government as the
reason behind the move. The notice leaves the door open for negotiations for
six months.
The latest move is likely to further tarnish India's poor image as a place to
set up power projects.
The federal government has so far not reacted to the termination notice,
although analysts say the country needs to tap more foreign investment in the
power sector.
OTHER CUSTOMERS
"This is a complex problem and cannot be solved instantly. The basic issue is
the cost of power and there needs to be an agreement on a reasonable tariff,"
the official said.
MSEB has said the power produced by DPC is expensive and has refused to buy
the output from the second phase. The contract between the two signed in the
mid-1990s had called for MSEB to buy the entire capacity of 2,184 MW. The
first phase of 740 MW began operations in May 1999.
Enron has said it is open to negotiations and that the cost of power would
fall once the second phase of 1,444 MW starts operations.
The lenders would like the government to clear MSEB's defaults of $48 million
and also find a buyer for electricity from the second phase.
But the banker said roping in other customers to buy the second phase's
output could be difficult to achieve.
"If the first phase is generating excess power, who will buy the power from
the second phase?" he asked.
TO BLOCK FURTHER LOANS
The official said Indian lenders had decided to block further loans to the
second phase till an agreement was reached. The SBI, for instance, had
sanctioned about 20 billion rupees ($425.9 million), but has disbursed only
14 billion rupees so far.
Both ICICI and IDBI officials declined to comment, but sources said the
domestic lenders were acting together.
Indian lenders said they were hopeful the matter could be resolved given
there was a window of six months for negotiation.
"There is no reason to panic. We are hopeful that talks will resolve the
issue," said the official.
Indian media speculated at the weekend that the balance sheet of the lenders
would be under pressure if the dispute was not resolved quickly. ($1 = 46.96
Indian rupees).

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Dabhol project suffers $400-m cost overruns
Anto T Joseph

05/21/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

MUMBAI
AS IF the current dispute with the Maharashtra government was not enough, the
Dabhol project now has to deal with cost overruns.
The Enron-promoted Dabhol Power Company has experienced a cost overruns to
the tune of $400 million, taking the total project cost to $3.3 billion.
DPC, which issued a preliminary termination notice to Maharashtra State
Electricity Board on Saturday (May 19), is in a fix as both domestic and
offshore lenders have refused to increase their exposure in the controversial
power project, the largest-ever foreign direct investment, so far, in India.
After Indian lenders stopped disbursements as a fallout of a long payment
crisis, DPC is believed to have scouted for foreign debt, albeit
unsuccessfully, to maintain the debt-equity status quo at 70:30 ratio.
DPC's issuance of PTN has compounded the problem. According to the power
purchase agreement between the MSEB and Enron, issuing a PTN would mean
fixing a deadline of six months for pulling the final plug on the project.
"As of now, the FIs have held back $250-million debt to the project. Once the
PTN is served, DPC can't expect lenders to make any more disbursements, and
it has almost sealed the fate of the project," said a financial institution
source.
While the 740-mw phase I is operational, the second phase of 1,144 mw was
expected to be fully operational by the year-end. One unit of 740 mw (part of
the second phase) is undergoing trial-runs, and was expected to be
commercially operational in June.
Sources said the huge cost overruns had been a major deterrent in project
completion. Worried by the mounting payment defaults, the EPC (engineering,
procurement and construction) contractor of the project -- Bechtel -- is
believed to have threatened to pull out of the project by mid-June.
The cost overruns stem from devaluation of the rupee vis-a-vis the dollar and
an increase in equipment cost. Indian FIs are now wary of further cost
overruns owing to the delay in project execution.
"Indian FIs, who have contributed 40 per cent of $2.9 billion (earlier
project cost), had refused to take more exposure. DPC was forced to approach
foreign lenders for raising funds to cover the cost overruns. They have also
taken a negative stand," said sources. The ABN-AMRO led offshore consortium
is believed to have refused to contribute any more debt to the project.
The only way out for DPC is for the promoters to increase their equity
contributions. Proportionately, Enron, which holds around 65 per cent in DPC,
will have to shell out a major chunk if this were to happen.
DPC's move to issue PTN has considerably irked Indian institutions. Lenders
were planning to cast a confidential vote on PTN this week. However, armed
with the required mandate from offshore lenders, DPC went ahead and issued
the PTN.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

NEWS
ROB MORSE
The mouth that roared
Rob Morse

05/21/2001
The San Francisco Chronicle
FINAL
A.2
(Copyright 2001)

Last week I was watching the TV news and saw a frightening sight. An angry
Gray Davis was declaring war on Texas.
"We are literally in a war with energy companies who are price- gouging us,"
the governor said, shaking with something that looked an awful lot like
emotion. "Many of those companies are in Texas."
In typical Davis style, the governor is a little late in declaring war on
Texas. If he had been president in 1942, he would have spoken of that day of
infamy in 1941.
It also was a typical Davis half-measure. He didn't declare war on all of
Texas, just the Texans who poll badly in California.
Those would be George W. Bush and his friends and contributors who cut off
our power, robbed us, and then used us as an example of why the nation needs
holes punched in Alaska and hundreds of Homer Simpsons put in charge of
nuclear fuel rods.
Davis isn't the type to boldly declare unlimited war on all of Texas,
certainly not "Austin City Limits," chili and the Texans we love, like Willie
Nelson, Tommy Lee Jones, Charlotte Mailliard Shultz and Willie Brown.
But Davis had a Texas stereotype in mind as he spoke of the hardscrabble
hombres in Houston high-rises who are smart and mean and are holding us up
long-distance. Yep, it's as if Texas is saying to California, "Your money or
your lifestyle."
Davis said he would retaliate each month by naming a Texas corporation "pig
of the month."
Yeah, that'll hurt those guys at Reliant Energy and Enron.
-----------------------
HAVING GRAY DAVIS ON YOUR SIDE IN A DUSTUP WITH A BUNCH OF TEXANS IS LIKE
HAVING THE HEAD OF THE HIGH SCHOOL AV CREW ON YOUR SIDE IN A RUMBLE WITH THE
CRIPS.
Right now the gashouse gangsters in Houston are having a jeweler make
14-karat gold pigs they can wear proudly in their lapels while they eat steak
and laugh at Californians deprived of their sushi because of the loss of
refrigeration. Texas kids will have bumper stickers on their fuel-
inefficient scooters saying, "My dad is a proud pig of the month in
California."
We have to do better than this pig of the month stuff. Slogans won't do when
you're fighting guys who are cutting off the electricity to read them by.
Texans have a better slogan, "Don't mess with Texas," and they're a tight
bunch who won't take kindly to Davis messing with any of their citizens, no
matter how rich.
How is Davis going to match "Don't mess with Texas"? Sorry, but "Californians
are people, too" won't cut it.
-----------------------
LONG BEFORE DAVIS DECLARED HALF-WAR ON TEXAS, a couple of readers suggested
that California retaliate by cutting off the supplies of our products to
Texas, specifically wine.
This, of course, is indication of Californians' isolation from mesquite
reality. There may be six guys in Texas who ever order wine with their
T-bones, and they're all in Austin. The menus say, "One: red. Two: white.
Three rose. Please order by number." And they all might as well be from
upstate New York.
If California were the world's only producer of beer and tequila, then we
might have a chance of beating Texas by cutting off the essentials of life.
There's only one way to defeat Texas short of an outright shooting war
pitting our kids armed by junk-gun manufacturers against their citizens with
concealed-carry permits. We have to declare an embargo on the one thing that
Texans really need from California -- entertainment.
Texans are shutting down our televisions and movie theaters, so we'll cut
them off from movies and TV shows made in California. Hey, they're all made
here. Until we get affordable power, it's no sitcoms and no J-Lo for them.
They won't even get Westerns, since those are shot in parts of California
blighted enough to look like Texas used to look. Nowadays much of Texas looks
like Beverly Hills, hold the hills.
We'll also embargo that branch of entertainment known as California itself.
At the border crossing into California on I-70, a heavily armed guard will
peer into each car and truck looking for pointy boots and ask, "Are you
carrying any fruit, vegetables or Texans?"
Should any Texans turn up, they'll be sent packing toward El Paso, never to
taste seared ahi, never to see the weirdos on the Sunset Strip, and never to
feel the natural air-conditioning they can never shut off in San Francisco.
They'll have to go to Florida if they want to see a guy in a mouse head.
There's a governor there who won't call them pigs.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

		COMMENT & ANALYSIS: India's power struggles: Enron's plight could mark a
turning point in India's attempts to attract foreign investment, says David
Gardner: Financial Times; May 21, 2001
By DAVID GARDNER

		The soap opera of Enron in India has reached a critical moment. Once again,
the US energy company is pitted against the state of Maharashtra, in western
India. But the twist this time is that Enron is threatening to pull the plug
on the Dabhol Power Company, the single largest foreign investment in India.
		It is, at first sight, a wearisome repetition of earlier episodes. The
Dollars 2.9bn Dabhol deal has been in trouble before. In 1995, a rightwing
Hindu nationalist coalition of the Shiv Sena and Bharatiya Janata party - now
the majority of the ruling coalition in New Delhi - ousted the Congress party
government in Maharashtra and tore up the contract its predecessors had
signed. The project went ahead after Enron secured a sovereign guarantee from
the government of India to cover any failure to pay by the Maharashtra State
Electricity Board, Dabhol's sole customer.
		The first 740MW Dabhol plant is now functioning and a second 1,444MW phase is
close to completion. But MSEB has been defaulting on payments since last
December and wishes to renegotiate the contract with Enron, claiming the
electricity tariffs are unjustifiably high.
		This weekend Enron began proceedings to terminate the agreement. The move
triggers an arbitration process that could begin as soon as Wednesday between
Dabhol and the MSEB. But Enron's actions are beginning to look like the first
step towards withdrawal from the project, in which it has a 65 per cent
stake.
		In the past 18 months, Cogentrix of the US, National Power of the UK, Daewoo
of South Korea and Electricite de France have all withdrawn from the Indian
power sector. Of eight so-called "fast track" power projects authorised by
New Delhi in the past decade, Enron's is the only one to have been
commissioned.
		Whatever the outcome, a great deal is at stake. The imbroglio could further
deter a barely detectable trickle of foreign direct investment into India. It
could blight India's urgent need to double its electricity generation. And it
raises the question of the extent to which contracts are enforceable in India
- which alone could raise the risk premium future investors may seek.
		Unless carefully handled, the controversy could damage India's ambition to
raise growth by creating an investment-friendly environment, in spite of the
success of industries such as software and pharmaceuticals.
		Kenneth Lay, Enron's chairman, said earlier this month that while his company
had no immediate plans to sell its Dabhol stake, the dispute "sends a very
bad signal to the rest of the world as to the difficulties of investing in
India, which is not what India needs right now".
		Several ministers, including Yashwant Sinha, finance minister, have said they
see no reason why Enron's experience should deter foreign investors. That is
true only in the sense that there is very little foreign investment anyway.
"The government is in denial," one minister admits. Publishing foreign direct
investment figures has become "an annual embarrassment", he adds.
		India received an estimated Dollars 2.6bn in inward investment last year, or
0.24 per cent of worldwide foreign direct investment flows. Complete figures
for 1999 show it received Dollars 2.2bn. China, its regional rival, received
Dollars 63.4bn - including Hong Kong - according to the United Nations.
		In just as telling a contrast, Electricite de France, which pulled out of
India after battling for seven years to advance its 1,000MW Bhadravati
project, is proceeding with a series of power plants in China, Egypt and
Mexico.
		"We say we want foreign investment in the power industry and the policy says
'yes, yes, yes'," says one civil servant who has soldiered long and hard to
introduce reform. "But the practice, I'm afraid, is 'no, no, no'."
		The Enron project, its critics say, is particular. Although Dabhol's power
purchasing agreement with the MSEB is confidential, it is widely believed to
embody a "hurdle rate of return" - the after-tax, internal rate of return on
equity in dollars - in excess of 20 per cent. The normal rate sought by the
dwindling investors in India's power industry is 16-18 per cent.
		In addition, Dabhol's charges per kilowatt hour are higher than anticipated
because its "load factor", or capacity usage, is much lower. The financially
strapped MSEB is buying less and Enron's contract allows it to apply variable
charges over the fewer units of output, raising the cost.
		There is an important sense, however, in which all this is academic. India's
state electricity boards are de facto bankrupt. Whether the cost per unit is
one rupee or 10, they cannot pay.
		The problem is user charges. Most Indian farmers get free power, much of
India's urban middle class steals power and too many of India's populist
politicians are frightened of agreeing on a minimum common tariff that might
begin restoring the solvency of the state electricity boards and thus
facilitate investment.
		Many industrial users that could pay, angered by cross-subsidies they are
charged for the inefficient system, have switched to secure "captive"
capacity of their own, an estimated 10,000MW of which is now in place. While
India needs to boost installed capacity by about 100,000MW by 2010, with no
one to pay for electricity a mere 464MW was commissioned last year, according
to Power Line, an industry newsletter.
		"It is self-defeating to try to attract an Enron without first putting your
house in order," one minister says. "It was always obvious that within the
present set-up Maharashtra would never be able to pay."
		Hari Dhaul, head of the Independent Power Producers of India, says restoring
the solvency of "the (state electricity boards) is priority number one;
unless we do that, all talk of power and infrastructure is academic."
		The government made a start when Mr Sinha, in the February budget, announced
a still-to-be-determined package of soft loans for states that reform their
electricity boards and begin introducing more realistic tariffs. But since
then the government has floundered over a series of scandals - not a
propitious climate for reform.
		The Enron case has the potential to become, if not another scandal, at least
a blight. As a senior executive at a foreign power company puts it: "India
needs modern infrastructure if it is ever to become a modern country. It
needs foreign investment to do part of it but that will only come if the
perception becomes that it is easy to invest in India."
		Copyright: The Financial Times Limited

Enron Withdraws From U.A.E.'s $2 Bln Gas Project (Update1)
2001-05-21 06:04 (New York)

Enron Withdraws From U.A.E.'s $2 Bln Gas Project (Update1)

     (Add comments from Dolphin's chairman in the second
paragraph, and background throughout)

     Abu Dhabi, May 21 (Bloomberg) -- Enron Corp., the world's
biggest energy trader, withdrew from Abu Dhabi's $2 billion
project to import natural gas from Qatar and sell it to other
Persian Gulf emirates, the project's chief said.
     The Houston-based company, which had held almost 25 percent
of Dolphin Energy Ltd., will sell its stake back to the Abu Dhabi
government, said Ahmed al-Sayegh, the chairman of state-
controlled Dolphin,
     ``We have started negotiations with a number of international
players keen to become shareholders'' in the company, he said.
     An Enron spokeswoman declined to comment.
    The announcement comes two months after Dolphin, a venture
between Abu Dhabi, Enron and Total Fina Elf SA, agreed with Qatar
to develop its North Dome field, the world's largest natural-gas
deposit, and build a pipeline under the Persian Gulf to the United
Arab Emirates and Oman.
     Governments in these Gulf states plan to use the gas for
industrial development, after a collapse in oil prices in 1998
reinforced their need to reduce dependence on crude oil sales.
     Abu Dhabi had owned 51 percent of Dolphin, with Enron and
Total splitting the remainder. The development of the Qatari gas
field will require investment of $2 billion to $3 billion, while
the pipeline to Abu Dhabi costs another $1 billion to $2 billion,
Dolphin has said.

                         Mystery

     Al-Sayegh didn't say why Enron had withdrawn from the
project. This is the second time in five years that the U.S.
company has withdrawn from a multibillion natural gas project
involving Qatar. Enron earlier pulled out of negotiations to build
a plant for turning gas into liquid form and exporting it to
India.
     Gas from the North Dome field, discovered in 1971, has so far
been liquefied and exported by tanker to Asia. Shipping by
pipeline is cheaper.
     Enron's shares have fallen 34 percent this year to close on
Friday at $54.90.

Lenders to Enron's Indian Unit Hoping for Solution (Update1)
2001-05-21 04:38 (New York)

Lenders to Enron's Indian Unit Hoping for Solution (Update1)

     (Adds comment from lender in seventh paragraph, fund manager
comment in ninth paragraph, updates share price in last.)

     Mumbai, May 21 (Bloomberg) -- State Bank of India, ABN Amro
and others that loaned money to a unit of Enron Corp. of the U.S.
are hoping a settlement will still be reached to prevent the $3
billion project from being scrapped in a row over unpaid bills.
     Dabhol Power, which borrowed about $2 billion from local and
international lenders to build a 2,184 megawatt power plant in
western Maharashtra state, issued a notice Saturday saying it
would cancel its power supply contract with the local government
because of unpaid bills.
     ``The notice does not mean that the project is off,'' said
Janki Ballabh, chairman of State Bank of India, the country's
biggest commercial bank and one of the largest lenders to the
project. ``All parties are making attempts to find an acceptable
solution.''
     Indian banks, which made rupee loans worth $1 billion to
Dabhol, are at the most risk from a possible termination of the
project as their loans were not guaranteed by the federal
government. They were seen as safe because of Enron's 65 percent
stake in the project. Should the world's largest power supplier
walk away from its investment, the risk of these loans turning bad
would increase.
     Foreign currency loans, made by lenders including ABN Amro
Holding NV and Bank of America Corp as well as State Bank of
India, are guaranteed.
     ``I won't call it a panic situation, though lenders including
us have to keep a watch,'' said Ballabh at SBI, who declined to
specify a figure for the bank's exposure. He also said it was
premature to comment on the impact of a possible termination of
the Dabhol project on the bank's balance sheet.
     ICICI Ltd., the country's second-largest lender to companies,
is ``covered back-to-back by state government guarantees,'' said
Kalpana Morparia, executive director at ICICI.
     Still, investors viewed the termination notice as bad news
for lenders, which saw their share prices fall.
     ``The banks will take a big hit on their balance sheet if the
Dabhol project is stalled,'' said Deepak Malhotra, who helps
manage $88 million in assets at Max India Ltd. in New Delhi.
     The so-called ``preliminary termination notice'' is being
seen as an attempt to force the central and Maharashtra state
governments to the negotiating table to resolve a standoff over
payments to the company, which is owed 3 billion rupees ($64
million) for power supplies in December and January.

                         Negotiating Ploy

     The notice was issued so that all parties to the dispute come
to the negotiating table, said an official at ICICI, who requested
anonymity.
     The fate of Dabhol, the biggest single foreign investment in
India, holds the key to further overseas investment in India's
power industry. Four foreign power companies, including
Electricite de France, Europe's largest, have pulled out of Indian
power projects worth $3 billion, citing long delays and the slow
pace of reforms.
     A failure of further negotiations may lead Enron to pull out
of the country. Parties involved in the project have six months
from the issuance of the preliminary termination notice to reach a
settlement. In case the project is scrapped, the Maharashtra
electricity board, the state government and the central government
face 170 billion rupees in liabilities.
     ``It's too big a project to fall off the ground,'' said
Sachin Sawrikar, fund manager at SBI Fund Management Ltd. ``If
Enron does back out, another promoter may step in to take over the
project and take over the liabilities after negotiations.''

                         Meeting Wednesday

     To end the impasse, DPC and the Maharashtra government plan
to meet on Wednesday. Dabhol said that if the government of India
stays away from the meeting, like it did the last time on May 11,
and if the federal and state governments don't come up with fresh
proposals ``further meetings will not be productive.''
     The Maharashtra State Electricity Board says it hasn't paid
the money it owes as the price of Dabhol's electricity is more
than double the rate it pays for power from other Indian
generators. Under the terms of the supply agreement it agreed to
pay a fee whether it used all the electricity or not, which has
meant rates have risen as high as nine times the price of power
bought from alternative sources such as Tata Power Co.
     The defaults spurred Dabhol to invoke payment guarantees by
the Maharashtra state and federal governments. The company on
April 25 authorized its management to cancel contracts to sell
power to the board.
     ICICI shares fell 4.25 rupees, or 4.75 percent, to 85.15
rupees on the Mumbai stock exchange. Industrial Development Bank
of India Ltd., the largest lender to Enron, fell 2 rupees, or 7.4
percent, to 25.15 rupees while State Bank shares were down 3.7
rupees, or 1.57 percent, to 232.5 rupees.

State Bank, ICICI Decline as Enron Plans to Pull Out of India
2001-05-21 03:02 (New York)

     Mumbai, May 21 (Bloomberg) -- State Bank of India and ICICI
Ltd., lenders to Enron Corp.'s Dabhol Power Co., fell after Enron
served a notice on India's Maharashtra State Electricity Board to
end its power supply contract because of unpaid dues. The state
electricity board owes 3 billion rupees ($64 million) to Dabhol
for supplying power in December and January. ``The banks will take
a big hit on their balance sheet if the Dabhol project is
stalled,'' said Deepak Malhotra, who helps manage $88 million in
assets at Max India Ltd. in New Delhi.
     State Bank of India, India's biggest commercial bank, fell
2.7 rupees, or 1.1 percent, to 233.5 rupees after earlier falling
as much as 2 percent. ICICI Ltd., India's second-largest lender,
fell as much as 7.1 percent. ICICI declined 4.35 rupees, or 4.9
percent, to 85.05 in recent trading on the Mumbai Stock Exchange.
Industrial Development Bank of India Ltd., India's biggest lender,
fell as much as 2.75 rupees, or 10 percent, to 24.4 rupees. IDBI
shares dropped 2 rupees, or 7.4 percent, to 25.15 in recent
trading.

ANZ Investment's Rangnekar on Loans to Power Companies: Comment
2001-05-21 05:36 (New York)

ANZ Investment's Rangnekar on Loans to Power Companies: Comment

     New Delhi, May 21 (Bloomberg) -- Abhay Rangnekar, director
and head of project finance and corporate advisory services at ANZ
Investment Bank in India, speaks on the impact on lending to power
companies after Enron's Dabhol Power Co. served notice it may
cancel its power supply contract with the Maharashtra State
Electricity Board.
     Dabhol on Saturday started a procedure to end its contract by
serving a ``preliminary termination notice'' on the electricity
board, with which it has been in dispute over 3 billion rupees
($64 million) of unpaid power bills for December and January.

     ``Pace of investments in the power sector is already slow.
It'll get slower.''

     ``Lender sentiment has definitely been affected. Making sure
that the contracts are watertight is not enough anymore'' for any
private power project.

     ``Lenders will need to ensure that power projects will have a
continuing ability to offer competitive tariffs, which would
(give) incentive (to) the state electricity boards to dispatch
them.''

     ``Lenders will also be cautious about accepting the demand-
supply estimates in different states.

     ``The track record of state electricity boards in paying
private power producers will also be stringently monitored.''

     ANZ Investment is one of the four global coordinators that
helped raise overseas loans for the $2.8 billion second phase of
the Dabhol project.


please disregard my previous e-mail,  i have the info

 thanks!

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


Please email the signature version of both documents.

Thank you,

Kay

j.nassos@pecorp.com on 06/08/2000 06:50:27 PM
To: Kay.Mann@enron.com
cc: j.burns@pecorp.com, gregory_spitzer@chicago.kirkland.com,
dtauke@winston.com, vhedge@winston.com

Subject: Signature page for Assisgnment of Option

Kay -

Attached is the signature page for the Assignment of Option Agreement.  Per
West LB's request, please print out six copies and have each one signed.
When the text of the Assignment is finalized tomorrow morning and acceptable
to Enron, please fax one signed copy back to me at (312) 240-4486.  Please
Federal Express all six originals to me also.  We will send back counterpart
signatures from all parties for your files when completed.

If you have any questions, don't hesitate to call (312-240-4413).  Thanks
for your help on this matter.

 <<Assignment of Option Sig Page.doc>>

----------------------------------------------------------------
The information transmitted is intended only for the person
or entity to which it is addressed and may contain confidential
and/or privileged material.  Any review, retransmission,
dissemination or other use of, or taking of any action in
reliance upon, this information by persons or entities other than the
intended recipient is prohibited.   If you received this in error, please
contact the sender and delete the material from any computer.

 - Assignment of Option Sig Page.doc


Now, is that any way to be treating a poor, unsuspecting beer? Didn't your
mother teach you that grabbing is impolite?

	Enron Capital & Trade Resources Corp.

	From:  Mark Guzman                           01/30/2001 02:50 PM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: beer?

Wanna grab a beer after work?


---------------------- Forwarded by Phillip M Love/HOU/ECT on 05/17/2000
03:21 PM ---------------------------

Phillip M Love
05/03/2000 09:48 AM
To: David Baumbach/HOU/ECT@ECT, Kevin Bosse/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, Gregg Lenart/HOU/ECT@ECT, Eric Wardle/HOU/ECT@ECT, B Scott
Palmer/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Drew Hill/HOU/ECT@ECT,
Jimmy Simien/Corp/Enron@ENRON, Mark Feldman/HOU/ECT@ECT
cc:
Subject: GAMES ARE ON AS OF NOW

As of now, the games are on 6:30 & 7:30.  I have to call back between 3-4
today.  Please let me know if you are able to play, we may be short tonight.
PL


Same to you!
And I hope you and your family have a HAPPY NEW YEAR!

-E

Danielle Samson <DanielleS@JonesGranger.com> on 12/30/99 08:46:42 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject:

HI THERE!
I HOPE YOU HAVE A FUN AND SAFE WEEKEND.

DEE


Thank you all for your support and wishes for our son. We named him Prithvi Pavan. Please come by 19C2 between 1-2PM today to celebrate with a few Indian snacks from home.

Krishna.


it's been changed

Evelyn Metoyer@ENRON
04/03/2001 09:06 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Corrections for energy type

Hi Kate can you please ch the energy type to Firm instead of CAISO Energy on
deal 532921.

Thanks!


give me a call at work sometime.....713-853-6203


Sara, This deal was binding from day one.  EWEB did say that they had
authority to enter into this transaction and thought they had the necessary
approvals from their board, therefore putting this language in the confirm is
alarming to me, maybe the better option may be to switch the deal to physical
if there is any issue with the financial.  Chistian Yoder was okay with their
authority to do this physically.  This deal is deep in the money for us now.
---------------------- Forwarded by Holli Krebs/HOU/ECT on 11/28/2000 12:52
PM ---------------------------

Sara Shackleton
11/27/2000 03:15 PM
To: Holli Krebs/HOU/ECT@ECT
cc: Tim Belden/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
Subject: EWEB status

I spoke with Jim Deason who is reviewing our documentation, including, the
ISDA Schedule, Credit Support Annex and Deemed ISDA.  He will email to me
EWEB's comments to our blacklined Schedule.  He has not conferred with Dick
Varner on the Credit Support Annex but hopes to have comments to me later
this week; I offered to have Tracy or Ed available to discuss credit.
Finally, he has reviewed the Deemed ISDA and will have the same comments
here.  HOWEVER, Jim indicated that the transaction which Holli entered into
is not the type of FINANCIAL deal that EWEB has contemplated (or authorized)
and that it would require special board approval.  The Board meets on Dec.
5.  He requested that a special provision be inserted into the confirm prior
to that approval, stating that this transaction is NOT BINDING until approved
by the EWEB Board (Jim will send requested language).  By copy of this
message, I ask that Holli advise on steps to be taken regarding execution of
the Deemed ISDA confirmation.

Click on this link to view the document in the Financial Trading Agreements
database-->


Distributed Power: The Next Big Investment?

With today's electricity demand expanding beyond the reach of available
supply, and nationwide electric deregulation efforts providing inconsistent
results, distributed power just may be the next big thing, according to Bear
Stearns analyst Robert Winters.

With technology-laden, electricity-hungry companies popping up every time you
turn around, and blackouts and brownouts occurring more frequently as large
power grids are becoming less reliable, the analyst points towards
distributed energy services as a possible solution, and maybe the "next big
investment opportunity for the coming decade." In Winters' 250 page report,
"Distributed Energy Services-The World's Power and Transportation Industries:
Set for a Revolution-Part 2," he examines technologies and companies within
the distributed energy services sector that might be able to take advantage
of the current situation.

"Thanks to major technological advances and energy deregulation, a wave of
new investment in the power industry has just begun. We believe that this
coming era in the power industry could resemble the wave of investments which
flooded into the telecommunications industry following the breakup of AT&T in
the early 1980's," said Winters.

"Companies and municipalities need to find ways to ensure the availability of
high quality, reliable power," added Winters. According to his research,
microturbines are the best positioned of the "new" technologies that would be
able to have an immediate impact on electric generation.

He based his recommendation on the fact that microturbines are small, quiet,
efficient and very versatile. "They can be used as a main power source, a
back-up power source or as an alternative when there is a spike in
traditional energy prices," the analyst said. "Microturbines can also be used
in remote locations, including developing countries, that do not have access
to electricity." Another attractive feature of microturbines is their fuel
requirements. The units often use natural gas, but can also use several other
fuels as well.

In the study, the analyst also examined fuel cells, flywheel technology, and
existing reciprocating engines technologies such as diesel engines and
Stirling engines, which he noted are enjoying a comeback.

In addition to the report, Winters initiated coverage on two distributed
energy companies. He labeled Active Power, a company that is pioneering
flywheel technology, as a "buy" and Capstone Turbine Corp., a leading
manufacturer of microturbines, as "attractive." The companies are in addition
to two fuel cell companies he currently follows. Ballard Power is currently a
buy, and Plug Power is rated neutral.


----- Forwarded by Stuart Zisman/HOU/ECT on 08/17/2000 04:48 PM -----

	"S Chan" <sac8@hotmail.com>
	08/17/2000 04:10 PM

		 To: stuart.zisman@enron.com
		 cc:
		 Subject: Chan's resume

Hi Stuart:? As I mentioned in my phone call, based upon my strengths and
personal talents, I have decided to return to the corporate environment (I
had worked for Mobil Oil, First City National Bank and the Federal Deposit
Insurance Corporation prior to law school) from the private practice of law.?
If you or others within Enron are?looking to add a corporate
finance/commercial transactions attorney with good business sense and legal
judgment, I welcome the opportunity to visit with you.

Attached is my resume.?I?have successfully closed hundreds of transactions
during 7?years in the Real Estate Energy and Finance section of Bracewell &
Patterson and 1
?years practicing in the areas of Banking and Finance, Energy
and Commercial Transactions at Locke Liddell & Sapp, where I am currently
Senior Counsel.

If you are interested in discussing with me?your department's legal
work?and/or my ability to contribute to Enron, please call me at (713)?298-
3883 or respond by email.? I appreciate your sharing my resume with Ms. Julia
Heintz Murray and Mr. Scott Sefton if either of them is likely to need an
attorney with my capabilities?at this time.

Very truly yours,

Stephen A. Chan

Attachment

?

Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com

 - antal731.doc


Unbelievable!
---------------------- Forwarded by Darron C Giron/HOU/ECT on 09/28/2000
04:49 PM ---------------------------

Scott Crowell <scott.crowell@oracle.com> on 09/28/2000 02:24:24 PM
To: "Beckman, Drew" <dbeckman@bindview.com>, "Bose, Timothy"
<bosetb@earthlink.net>, "Fultz, Mike" <mike.fultz@halliburton.com>, "Giron,
Darron" <dgiron@enron.com>, "Hatfield (AA), Bret"
<bret.j.hatfield@us.arthurandersen.com>, "Jenny, Brook &"
<Cheetothecat@aol.com>, "Judge, Mike" <mjudge@us.oracle.com>, "Liberman, Jay"
<j_liberman@hotmail.com>, "Love, Phillip" <Phillip.M.Love@enron.com>,
"Mehringer, Eric" <emehringer@nextera.com>, "Nagy, Joe"
<jnagy@intraspect.com>, "Roberson, Calvin" <CRoberson@ASAPSC.COM>, "Rossen,
Mike" <MRossen@INTERGEN.com>, "Siddons, Chad" <csiddons@phoenixdsl.com>,
"Thomas, Mike" <mikepthomas@yahoo.com>, "Young (home), Dennis"
<slsdfy@earthlink.net>
cc:
Subject: [Fwd: FW: Vince Carter's dunk over a 7'2'' French player in the
Olympics]

Return-Path: <MikeMullen@mail.house.gov>
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Message-ID: <AD3CC6482AA0D211A7FB0008C7A4BBC306AE9252@hrm04.house.gov>
From: "Mullen, Mike" <MikeMullen@mail.house.gov>
Subject: FW: Vince Carter's dunk over a 7'2'' French player in the Olympic  s
Date: Thu, 28 Sep 2000 11:02:25 -0400
X-Mailer: Internet Mail Service (5.5.2650.21)

Check out this Vince Carter dunk.  Unbelievable.

>  <<Vince_Carter-7'2_Dunk_(Olympics_2000).mpg>>
>
> Ok, you're heard the news reports...you've seen the photo on
> espn.com...but had you seen the video?  If not, you're in for a treat.
>
>

 - Vince_Carter-7'2_Dunk_(Olympics_2000).mpg
 - scott.crowell.vcf


Have you heard from Amy?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


I have to leave work early tomorrow at 5 p.m. for an appointment.
 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Tuesday, October 23, 2001 6:23 PM
To:	Boyd, Samantha; Cook, Mary; Gray, Barbara N.; Heard, Marie; Hendry, Brent; Jones, Tana; Koehler, Anne C.; Leite, Francisco Pinto; Taylor, Mark E (Legal); Nelson, Cheryl; Panus, Stephanie; Sayre, Frank; Bailey, Susan
Cc:	Rozycki, Joanne
Subject:	Wednesday, October 24

I have an 8:30 a.m. doctor's appointment.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


Sorry Jim but I left you a voicemail saying that there was no material loss
in trading.


Attached is latest version - due to quick turnaround, there may be a few
typo's.

Julie, Gerald and I will be present. Talk to you then....


Tatiana,

I am in Europe this week.
I shall contact you on my return.

Vince

Tatiana Marinenko <marinenk@rice.edu> on 10/02/2000 12:10:57 PM
To: vkamins@enron.com
cc:
Subject: Please help

Dear Vince Kaminski:
   I enjoyed talking with the Enron representatives at Rice University
last week and was recommended to contact you regarding my strong interest
in pursuing a career with Enron Corporation.
   I am a Mathematics Ph.D. student at Rice University and have the
highest current GPA in the Ph.D. program. I am also gaining knowledge in
Derivatives Pricing, Risk Management and Hedging at Rice University Jones
School of Management. I am very interested in an internship and/or
permanent position with your company beginning in the summer of 2001.
Enclosed please find a copy of my resume.  I've attached a second copy to
download, if necessary.

Thank you for your consideration. I look forward to hearing from you.

Sincerely,

Tatiana Marinenko
(713) 348-28-40
marinenk@rice.edu

 - resume.txt
 - math_phd.pdf


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Hertzberg and Keeley announced that they are filing a petition with FERC to rehear the April 26th decision regarding price caps.  After going to D.C. and meeting with several FERC members, they decided to file for a rehearing.  Their filing asks that the order should be in affect around the clock instead of just during Stage 1, that the actual costs be tied closer to the pricing of the product, and anyone that exceeding the cost-based pricing system have a 100% penalty.

Hertzberg and Keeley had a press conference today at 1:30 PST.  Questions included the impact of today's ruling and how it would affect Plan B, Hertzberg replied he was not sure.    He also indicated that they support the Feinstein bill and if the lawsuit or the rehearing efforts do not work, legislation is the last chance for price caps.  Hertzberg also indicated that he was getting to the point where CA "may just say no to prices that are too high" (via buyer cartel).


....or unless the judge has scheduled a conference call for a time certain.

	"Nunnally, Knox D." <knunnally@velaw.com>
	08/16/2000 08:13 AM

		 To: "'Richard B Sanders'" <Richard.B.Sanders@enron.com>, "Neal S. Manne"
<NMANNE@SusmanGodfrey.com>
		 cc: "Patman, Carrin (Bracewell & Patterson)" <cpatman@bracepatt.com>,
"Nunnally, Knox D." <knunnally@velaw.com>
		 Subject: RE: Beeson

He who can predict when a judge or jury will decide something is indeed a
wise man-- unless he is in south Texas.

-----Original Message-----
From: Richard B Sanders [mailto:Richard.B.Sanders@enron.com]
Sent: Wednesday, August 16, 2000 7:47 AM
To: Neal S. Manne
Cc: Patman, Carrin (Bracewell & Patterson); 'Nunnally, Knox D.'; Richard
B. Sanders (E-mail)
Subject: RE: Beeson

When do you think we will here something ( if today) ?


calnedar and meeting file
----- Forwarded by Steven J Kean/NA/Enron on 02/07/2001 07:31 AM -----

	Shirley A Hudler@ECT
	02/06/2001 05:13 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc: Jana Mills/HOU/ECT@ECT
		 Subject: CalPERS

Steve, Andy asked that you be on this call. This is Thursday the 15th.  I
will let you know details.  Thanks.
----- Forwarded by Shirley A Hudler/HOU/ECT on 02/06/2001 05:12 PM -----

	Shirley A Hudler
	02/06/2001 12:42 PM

		 To: afastow@enron.com, Rick Buy/HOU/ECT@ECT, Marty Sunde/HOU/EES@EES
		 cc: Kelly H Boots/HOU/ECT@ECT, Ben Glisan/HOU/ECT@ECT
		 Subject: CalPERS

CalPERS - Rick Hayes - has set up a conf call next Thursday to discuss the
California issue with Enron.  My asst took the call and indicated that Rick
had 10 or so people within CalPERS who wanted to talk to us.  She is
arranging for Rick and Marty (and myself) to be on that call.  I have
requested a list of individuals and their role within PERS to distribute.
Marty,  I will have my asst set up a meeting for you and me prior to Thursday
to discuss the call.

Let me know if you have any comments or questions or if anyone else would
like to or should be included on the call.

Shirley Hudler
Sr. Director
Enron Global Finance
713-853-4859


Looks like a good deal to me!  If anybody is interested please contact
Russell directly.
56cm Black with Red
Price: 700.00 (OBO) First come first serve
Contact information:
Home number 713.228.9344
Office Phone 713.853.1597
Email: Russell.Servat@Enron.com <mailto:Russell.Servat@Enron.com>
Thanks for your help.

Russell

Amelia Alder
Enron Transportation Services
P.O. Box 1188
Suite 3AC3120
Houston, TX 77251-1188
Tel: 713-646-6569
Fax: 713-345-5755
amelia.alder@enron.com


Jim,

Check it out,

http://www.atmos.washington.edu/~mantua/REPORTS/PDO/PDO_egec.htm
 http://www.srh.noaa.gov/bro/PDO.htm

Vince


NETWORK WORLD NEWSLETTER: PHIL HOCHMUTH on
LINUX
01/21/02
Today's focus Linux on-the-go

Dear Wincenty Kaminski,

In this issue:

* What's better than two penguins in the hand?
* Links related to Linux
* Featured reader resource

_______________________________________________________________
TECHNOLOGY INSIDER: STREAMING MEDIA

Streaming media is taking off as a corporate communications and
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it out at http://nww1.com/go/ad237.html

_______________________________________________________________
Today's focus: Linux on-the-go

By Phil Hochmuth

Enthusiasts of Linux on PDAs may want to try and finagle a demo
unit from Sharp and Royal, two companies that showed off new
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Vegas earlier this month.

Sharp's Zarus PDA - a long-awaited handheld by Linux and PDA
mavens - is expected to compete with PDAs based on operating
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gadgets. The product runs on a 206 MHz Intel StrongARM
processor, comes with 64M bytes of memory, 16M bytes of flash
ROM and a slew of Web, entertainment and communications
programs.

While only the development version is available now, the
general release version of the product is expected to cost
around $600.

Also announced was the Royal Lin@x (don't ask for a
pronunciation) from Royal Consumer Information Products. The
handheld is built on the same Intel architecture as the Zarus,
but has less RAM (16M bytes), and also a lower price tag at
around $300. The handheld comes with applications such as an
Internet browser, handwriting recognition software and an MP3
player.

Peripherals such as a modem or wireless LAN card can be added
through a CompactFlash Type II card port on the devices. The
product is scheduled for general availability around March.

What do these doohickeys have to do with enterprise Linux
computing? Not much, but they've got Linux as an operating
system, a good beat (Intel processors), and you can dance to
them.
_______________________________________________________________
To contact Phil Hochmuth:

Phil Hochmuth is a Senior Writer for Network World, and
a former systems integrator. You can reach him at
mailto:phochmut@nww.com.
_______________________________________________________________
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Network World Linux in the Enterprise Newsletter, 07/25/01
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Java gets tiny
Network World Linux in the Enterprise Newsletter, 02/12/01
http://www.nwfusion.com/newsletters/linux/2001/00408493.html

Breaking Linux news from Network World and around the 'Net,
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------------------------
This message was sent to:  vkamins@enron.com


Andy, looks like your deliveries at Z4 are settled to you at Z3 and Z4.  That would imply that you have the right to deliver at Z3 and Z4  to match the pricing.  I quess we need to confirm that and determine the correct %'s at each Zone.  Kam and Maureen will follow up on this.

Frank
 -----Original Message-----
From: 	Keiser, Kam
Sent:	Thursday, November 01, 2001 10:05 AM
To:	Vickers, Frank
Subject:	Trigen-Nassau

Frank,

Regarding Trigen-Nassau,  Andy sells them the gas at Transco/Z4 but is priced half at Zone 3, half at Zone 4.  This is how the deal was originally booked in TAGG and therefore the desk price must match.

I would also like to let you know that I will be moving to the West desk, effective tomorrow.  Phillip Love is moving from the Central desk to take my place, and Scott Palmer is moving over to the Central desk.  Obviously, me and Scott will be helping Phillip with VNG.

Please let me know if you have any concerns or questions.

Thanks

Kam

x3-5781


Mike,

 In response to your voice mail, yes the change from Enron Capital & Trade
Resources Corp. (ECTR) to Enron North America Corp. (ENA) was a name change.

 The Global Contract No. for the ENFOLIO Master Purchase/Sale Agreement for
General Service Customers - Houston, East Texas and Gulf Coast Divisions
dated effective as of April 1, 1999 between ECTR and Entex, a division of
Noram Energy Corp. is 96019120.

 The Global Contract No. for the ENFOLIO Master Purchase/Sale Agreement for
Large Commercial and Industrial Consumers dated effective as of May 1, 1995
between ECTR (assignee of HPL Resources Company) and Entex, a division of
Noram Energy Corp. is 96004582.

 The Global Contract No. for the ENFOLIO Master Purchase/Sale Agreement dated
effective as of May 1, 1995 between ECTR (assignee of HPL Resources Company)
and Unit Gas Transmission Company is 96002879.

 Please call me at (713) 853-6895 if you need anything further concerning the
foregoing.


FYI

 -----Original Message-----
From: 	enron_update@concureworkplace.com@ENRON [mailto:IMCEANOTES-enron+5Fupdate+40concureworkplace+2Ecom+40ENRON@ENRON.com]
Sent:	Wednesday, September 26, 2001 6:21 AM
To:	James Derrick Jr.
Subject:	<<Concur Expense Document>> - Lunches

The Payment status has changed on the following report:

Status last changed by:  System
Expense Report Name: Lunches
Report Total: $132.36
Amount Due Employee: $132.36
Amount Approved: $132.36
Amount Paid: $0.00
Approval Status: Approved
Payment Status: Processed

To review this expense report, click on the following link for Concur Expense.
http://expensexms.enron.com


Gerald,

The contact information for Assumption Parish is as follows:

Assumption Parish Police Jury
Attn: Kim Torres
P.O. Box 524
Napoleonville, LA 70390

I have two changes that you may have already taken note of.  The first change is in the description of the property on the first page.  In the 8th line in the description, it says "the South property line a distance or 260.02..."  it should read "distance of 260.02".  This change also needs to be made in the description contained within Exhibit B.  In the description contained within Exhibit B, there should not be a period after the words "to the point of beginning" in the 10th line.

The second change is also in Exhibit B on page 2.   In the paragraph that starts "all parties signing the written instrument....", I don't think "marital status" should be in there.

One final thing, the purchase price for the warehouse and land is $100,000.

Give me a call if you have any questions.  Also, let me know if you need any help with the lawn-mowing agreement.

Thanks for your help.

Rakhi
(x3-7871)

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Friday, August 17, 2001 2:48 PM
To:	Israni, Rakhi
Subject:	PSA Doc.

 << File: Napoleonville PSA1.doc >>


I could use all four.

	Janette Elbertson
	11/16/2000 11:48 AM

		 To: Roger Balog/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Sandi M
Braband/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Teresa G
Bushman/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT,
Barton Clark/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Shonnie
Daniel/HOU/ECT@ECT, Angela Davis/NA/Enron@Enron, Peter del
Vecchio/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT, Robert H
George/NA/Enron@Enron, James Grace/Corp/Enron@ENRON, Mark
Greenberg/NA/Enron@ENRON, Wayne Gresham/HOU/ECT@ECT, Leslie
Hansen/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT, Anne C Koehler/HOU/ECT@ECT, Dan
Lyons/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Lisa Mellencamp/HOU/ECT@ECT,
Janet H Moore/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Gerald
Nemec/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, David Portz/HOU/ECT@ECT,
Michael A Robison/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Shari
Stack/HOU/ECT@ECT, Lou Stoler/HOU/ECT@ECT, Steve Van Hooser/HOU/ECT@ECT, John
Viverito/Corp/Enron@Enron, Ann Elizabeth White/HOU/ECT@ECT, Stuart
Zisman/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron
		 cc:
		 Subject: Rockets Tickets

Mark Haedicke has four tickets to tonight's game.  These tickets will be
given away on a first-come, first-served basis.  Please response by e-mail.
No phone calls, please.

Janette Elbertson
Enron North America Corp.
Legal Department - EB3326
Telephone:  (713) 853-7906
Fax:  (713) 646-2600
janette.elbertson@enron.com


It was good.  There were about 20.  It took too long, we didn't leave until
10pm.  They sure can spend the $

DG

	Enron Capital Management

	From:  David Baumbach                           12/07/2000 08:53 AM

To: Darron C Giron/HOU/ECT@ECT
cc:
Subject:

How was Brennan's?


FYI
---------------------- Forwarded by Tana Jones/HOU/ECT on 08/27/99 02:47 PM
---------------------------

William S Bradford
08/27/99 01:30 PM
To: Tana Jones/HOU/ECT@ECT
cc: Molly Mathes/HOU/ECT@ECT
Subject: Merger of NationsBank and Bank of America - Enron Corp.

Tana,

Please add Molly Mathesto your legal distribution lists.

Thanks,
Bill

-------------------- Forwarded by William S Bradford/HOU/ECT on 08/27/99
01:29 PM ---------------------------

Susan Flynn
08/27/99 11:00 AM
To: Clement Abrams/Corp/Enron@Enron, William S Bradford/HOU/ECT@ECT, Debbie R
Brackett/HOU/ECT@ECT, Nidia Mendoza/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT,
Patricia Cini/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT, John Suttle/HOU/ECT@ECT,
Tracy Ngo/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Marie Heard/HOU/ECT@ECT,
Sara Shackleton/HOU/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT, Shari
Stack/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Carol St
Clair/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Marilyn Colbert/HOU/ECT@ECT,
Yolanda Cordova-Gilbert/HOU/ECT@ECT, Diane Ellstrom/HOU/ECT@ECT, Lynn E
Shivers/HOU/ECT@ECT, Willie Harrell/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ECT,
Robert B Cass/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, Leslie
Reeves/HOU/ECT@ECT, Dianne Seib/CAL/ECT@ECT, Samuel Schott/HOU/ECT@ECT,
Anthony Campos/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT, Mary G
Gosnell/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Connie
Sutton/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Jefferson D Sorenson/HOU/ECT@ECT,
Lucy Ortiz/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT,
Melba Lozano/HOU/ECT@ECT, Andrea R Guillen/HOU/ECT@ECT, Larry Joe
Hunter/HOU/ECT@ECT, Willie Harrell/HOU/ECT@ECT, David Dupre/HOU/ECT@ECT,
Chris Walker/HOU/ECT@ECT
cc:
Subject: Merger of NationsBank and Bank of America - Enron Corp.

Re:  Enron Corp.

 We have received a letter agreement from Bank of America setting forth the
terms of the referenced merger as they relate to our ISDA Master Agreements
currently in place with Enron Corp. and each of  Bank of America and
NationsBank.  Credit and Legal have agreed to the terms set forth therein.

1. On July 5, 1999, NationsBank, N.A. ("NationsBank") changed its name to
Bank of America, N.A.
2. On July 23, 1999, Bank of America National Trust and Savings Association
("BofA") merged with Bank of America,  N.A. and the surviving bank is named
Bank of America, National Association.

Effective July 23, 1999, as a result of the merger, the following will
occurr:

1. The ISDA Master Agreement, dated February 8, 1995,  between Enron Corp.
and  and NationsBank, N.A.  will remain in place.  Bank of America, National
Association as successor by merger, shall be our counterparty.

2. The ISDA Master Agreement, dated February 4, 1994 and effective as of
August 14, 1992,  between Enron Corp. and Bank of America National Savings
and Trust Association  is terminated.  Any existing trades under this
agreement shall be transferred to the ISDA  Agreement under number 1 above.

 A copy of the letter agreement will be distributed.


Regards,
Janice

EB3861
Assistant General Counsel, Enron North America Corp.
713-853-1794 (Fax:  713-646-4842)
----- Forwarded by Janice R Moore/HOU/ECT on 03/16/2001 08:36 AM -----

	TeiglandL@sullcrom.com
	03/15/2001 11:57 PM

		 To: Janice.R.Moore@enron.com, Sara.Shackleton@enron.com
		 cc: lpeddic@alleghenyenergy.com, YYaish@exchange.ml.com,
GilbergD@sullcrom.com, Ormec@sullcrom.com
		 Subject: Re-revised Allegheny Side Letter for ISDA

Sara/Janice, thanks for your comments.  I have reflected them in the attached
draft, marked to show your changes.  The governing law provision is a
formulation that we have used at S&C to accomplish the purpose of giving
effect to NY-GOL 5-1401 and should achieve the purpose of the language you
added to the power master amendment; I was planning to conform the latter to
the language used here unless you have an objection.

Allegheny has not yet reviewed this draft so it remains subject to their
comment.  I also need Yair to confirm that he is happy with the new Part 6 -
Commodity Definitions section (Yair, this is attached as Exhibit "C" to the
attached document).

Let me know if you have any further questions or comments.  Thanks!

----------------------------------

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

----------------------------------

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - Allegheny  ENRON ISDA SIDE LETTER(vRED).DOC


What's Happening?

How's it going?  I will not be at rehearsal tonight because I'm going to get
my hair done.  I figured that you all will be practicing (is that how you
spell practice) your Easter songs and I will be in Omaha for Easter so I
don't need to learn the songs, as we only sing them on Easter anyway.
Besides, just in case you didn't hear, we don't sing this Sunday (We switch
with the kids), since you all will sing on Easter for all 4 services.

This daylight savings time is nice.  It's so nice to be able to get home and
still habe daylight instead of feeling like you whole day is shot once it
gets dark.

Did you find any houses that you liked?  How long were you out?

Talk with you later!


Chris:

With the $1.5 million to ship MHI turbines 1 and 2, the summary of the numbers is the following:

Therefore, we would be about $300,000 over the original DASH.  These numbers do not include transaction and financing costs.  I will do a DASH amendment and am copying Louise on this email so that she is aware of what is going on.  The storeage would be in a bonded warehouse, so no duties would be due at this time.  On leads, we have a couple of new parties, but nothing concrete yet.  Ron has been working with one counterparty and may receive an offer in the near term.

Brett

From:	Christopher F Calger/ENRON@enronXgate on 10/01/2001 04:41 PM CDT
To:	Brett R Wiggs/SA/Enron@Enron
cc:	Ben Jacoby/ENRON@enronXgate
Subject:	RE: MHI 501f storage team

Sounds good.  Couple of questions:
- are there duties/taxes due upon arrival?
- Were shipping / storage costs included in original DASH?
- Is the amount approx $1.5MM?
- Any leads on the MHI's?
Chris Calger
503-464-3735

 -----Original Message-----
From: 	Wiggs, Brett
Sent:	Monday, October 01, 2001 1:38 PM
To:	Christopher F Calger@ECT; Ben F Jacoby@ECT
Subject:	FW: MHI 501f storage team

The proposed plan on the MHI units is to ship Units 1 and 2 to the US for storeage at a central location.  The storeage costs are significantly less than proposed by MHI and the ability to centralize all of the shipments will be beneficial for a potential sale.  From an economic perspective, it would be better if we had a sale in the short term and could ship directly.  However, given a lack of any firm sale, the recommendation is to ship them to the US and store.  Let me know if you are in agreement with going forward with the shipment.

Thanks,
Brett
---------------------- Forwarded by Brett R Wiggs/SA/Enron on 10/01/2001 05:41 PM ---------------------------
From:	Ron Tapscott/ENRON@enronXgate on 10/01/2001 03:23 PM CDT
To:	Brett R Wiggs/SA/Enron@Enron
cc:	David Marshall/ENRON@enronXgate, Phillip Foster/ENRON@enronXgate, Mike Coleman/ENRON@enronXgate
Subject:	FW: MHI 501f storage team

Brett,

we will need your approval over the next couple of days to complete arangements for the shipment of units 1 & 2 to Texas.  The estimates for the activity are in the attached e-mail.  How do you want to go about this.  I have Phillip Foster waiting for the go ahead on shipping and David Marshall who will need approval to secure the insurer.  Let's discuss first thing tomorrow morning.  Thanks, Ron.

 -----Original Message-----
From: 	Tapscott, Ron
Sent:	Monday, September 24, 2001 3:33 PM
To:	Bills, Lisa; Coleman, Mike; Barto, Brian; Foster, Phillip; Mayeaux, James; Marshall, David; Sutherland, Jim; Fox, Bill; Leigh, Lorie; 'markthurber@akllp.com'
Cc:	Jacoby, Ben; Wiggs, Brett; Virgo, Robert
Subject:	RE: MHI 501f storage team

I have summarized the costs associated with shipping and storage of MHI Units 1&2 in the attached file.   << File: Ship_Storage Prop 092401.xls >>

Other discussion worth noting --

?	Title will remain with original counterparty -- EBPH
?	We prefer that title and risk of loss pass at Port of Import; however; not a requirement if MHI decides to extract a large premium
?	Will require specific storage instructions from MHI (will make a request on tomorrow's call)
?	packing requirements to maintain warranty
?	other requirements (space heaters, etc.)
?	Inspection instructions
?	Plan to submit a request to MHI that the Unit(s) be readied for shipment (est. Sept. 30 with written notice)
?	Carrier able to be at Port of Export by Oct. 22-31
?	Estimate 32 days from Port of Export to Port of Import

Please review and forward comments by tomorrow morning.  I will formalize for a discussion with Dave Duran and Ben Jacoby prior to the MHI phone call,

Thanks, Ron.

 -----Original Message-----
From: 	Tapscott, Ron
Sent:	Friday, September 21, 2001 11:17 AM
To:	Bills, Lisa; Coleman, Mike; Barto, Brian; Foster, Phillip; Mayeaux, James; Marshall, David; Sutherland, Jim; Fox, Bill; Leigh, Lorie
Cc:	Jacoby, Ben; Wiggs, Brett; Virgo, Robert
Subject:	RE: MHI 501f storage team

I would like to have a followup meeting on Monday, September 24 from 10a-11a on the storage of units 1&2.  Lorie -- please set up a conference room and forward to those copied on this e-mail.

Phil -- I would appreciate if you would take the lead on developing a shipping and storage plan.  The plan should have a timeline w/ a discussion on the appropriate activity.  I would suggest that the first milestone will be our formal notification to MHI informing them to ready the units for shipping will occur on the Tuesday night call.  I would hope we would have packing instructions to them at that time or soon thereafter.  Do we have a preference on the packing or was the plan given to us by MHI appropriate?

As far as the cost estimates in the attachment below  --

?	David Marshall sent me a correction for the charge used for the storage insurance.  It was corrected from .0002 to .000275
?	could someone please address the last two open items -- timeframe covered with the $25k estimate for  DSU
?	estimated Custom Charges

Thanks, Ron
 -----Original Message-----
From: 	Tapscott, Ron
Sent:	Wednesday, September 19, 2001 6:49 AM
To:	Bills, Lisa; Coleman, Mike; Barto, Brian; Foster, Phillip; Mayeaux, James; Marshall, David; Sutherland, Jim; Fox, Bill
Cc:	Jacoby, Ben; Wiggs, Brett; Virgo, Robert
Subject:	RE: MHI 501f storage team

Thank you for your input on the storage of the MHI Units 1 & 2.  The following is a summary of charges associated with shipping and storage (discussed this past Monday):

?	Cost for Shipping components located in Kobe, Japan ($500-600k for both units)
?	Cost for Shipping components located outside of Kobe ($200k for both units)
?	Handling from ship to storage (approx. $200k for both units)
?	Storage  ($13k per month for each unit)
?	Cargo Insurance (0.002 charge for the value of shipment, est. $40MM per unit, approx. $80k per unit)
?	Storage Insurance (0.0002 charge for the value of storage, est. $40MM per unit, approx. $8k per unit per [mos., 6 months, year?????])
?	DSU Insurance ($25k per unit per [mos., 6 months, year?????])
?	Custom charges (approx $__ k per unit per _______ (period))

We would propose to MHI that we would set up an entity who would provide the above services on behalf of MHI and the above actual charges would be passed through to E-Next (along with a fee that would be provided for MHI's account, approx -- $200k).  The title and risk of loss would be passed at the Port of Import.  The likely location for the stored units would be in or around Houston or Freeport, TX at a Bonded Facility.  We will continue to modify the proposal to address the needs of E-Next and future project structures.

I would appreciate confirmation from those who have provided the above estimates (and, response on the questions noted above).  In addition, please forward any other items that were overlooked.

Last, MHI has not provided a counter proposal for the storage of the units in Japan, but the above proposal is certainly more attractive.

Thanks, Ron.

 -----Original Message-----
From: 	Tapscott, Ron
Sent:	Monday, September 17, 2001 7:33 AM
To:	Morris, Sandy
Cc:	Bills, Lisa; Coleman, Mike; Barto, Brian; Foster, Phillip; Mayeaux, James; Marshall, David; Sutherland, Jim; Fox, Bill
Subject:	RE: MHI 501f storage team

Sandy,

I would appreciate if you could reserve a conference room for today from 2-3p.  The meeting will be a followup to our MHI unit storage meeting from Friday.  Please copy everyone on this e-mail once you establish a place.

In addition, I have MHI coming in tomorrow.  I would like to reserve a conference room from 9a-4p.  There will be anywhere from 7-9 people in this meeting.  The meeting tomorrow will have a slightly different group of people in attendance.  Just forward me the place and I will see that it is forwarded to those participating.

I appreciate your help.

Thanks, Ron.

 -----Original Message-----
From: 	Leigh, Lorie
Sent:	Friday, September 14, 2001 10:15 AM
To:	Tapscott, Ron; Bills, Lisa; Coleman, Mike; Barto, Brian; Foster, Phillip; Mayeaux, James; Marshall, David; Sutherland, Jim
Cc:	Zarsky, Lisa
Subject:	RE: MHI 501f storage team

Conference room EB 0791  has been reserved from 1:30 - 2:30 for this meeting.

Lorie Leigh
Senior Admin. Asst.
Enron East Power Generation Development
Office: 713-853-1696

 -----Original Message-----
From: 	Tapscott, Ron
Sent:	Friday, September 14, 2001 6:35 AM
To:	Bills, Lisa; Coleman, Mike; Barto, Brian; Foster, Phillip; Mayeaux, James; Marshall, David
Cc:	Leigh, Lorie; Zarsky, Lisa
Subject:	MHI 501f storage team

I would like to have a meeting today regarding the storage of MHI 501F Units 1 & 2.  We have received a proposal from MHI for these units to be stored in Japan which is attached.  I believe we have better options if MHI persists in their views on how the unit will be stored and Enron is charged for these services.  I would like for you to review and offer comments and suggestions.  I have also attached the letter I sent to them outlining our requirements.

Does anytime from 1-3p work for everyone.

Copy Lorie Leigh/Lisa Zarsky on your availability and they will coordinate a meeting for this afternoon.

Thanks, Ron.

 << File: Storage for RioGen Units 1 and 2.pdf >>  << File: mitsubishi_ltr_082201.pdf >>


It is time for you to step in and force an internal transfer. You and I know this has gone on far too long and needs to be transferred to EGAS's books.

 -----Original Message-----
From: 	Mahan, Mariella
Sent:	Monday, August 20, 2001 5:54 PM
To:	Leach, Doug; Shields, David
Cc:	Lessor, James N.; Buy, Rick; Moran, Tom; Price, Brent A.; Nowlan Jr., John L.; Shankman, Jeffrey A.
Subject:	RE: SECLP

Doug,
I will bring this issue up with EGAS management - - will revert with their feedback on this internal accounting transfer (i.e., no new cash to Enron) as well as the trasnfer of associated interest gonig forward, etc.  We need to consider the potential effect to Enron of this internal transfer from the perspective of legal strategies as well as current restructuring efforts with the lenders.

On another matter: have not heard from you regarding the Venezuela trading assistance (from Vengas).

Thanks, Mariella

 -----Original Message-----
From: 	Leach, Doug
Sent:	Friday, August 17, 2001 8:40 AM
To:	Shields, David; Mahan, Mariella
Cc:	Lessor, James N.; Buy, Rick; Moran, Tom; Price, Brent A.; Nowlan Jr., John L.; Shankman, Jeffrey A.
Subject:	SECLP

With SECLP being shutdown for almost two months and no positive news in sight I think we need to address the internal transfer of $28 million to settle the outstanding fuel bill. There is no longer a reason for this to remain on EFI's receivables and we need to settle the account.


Shane,
Thanks for your inquiry.   If you have additional questions,  please ask.

JForney


Hey. How is everything going with you all?  Things are pretty good here.
Expecting a second baby in March.  Pretty excited. How are Ashly and
Jackson? Good I hope.  What is Jackson now, almost 2?  I bet he's alot of
fun.  I was also writing to ask you if you know anything about the program
Enron has for people with graduate degrees. Chris is furiously looking for
a new job and was just curious about that program that he saw on the Enron
web site.  I was also going to ask you if you knew of any positions there
that might suit Chris' qualifications.  Alot of what he sees on the web is
looking for alot of engineering or Oil & Gas experience.  I told him you
might have an inside track on some things there and that I would check with
you.  I am attaching his resume for you to look at.  If you know of
anything, please give me a call or e-mail me. I would certainly appreciate
it.  Take care and keep in touch.

Amanda
 - Chris DeVries Resume.doc


rhino here, sorry you lost your voice!  Just goes to show that sometimes
prayers are answered.  Just kidding!  We missed you at gas fair.  It just
wasn't the same without  you.  When are you comming back?  Oh damm, I've got
to go to a meeting.  I'll write later.  Rhino, out.


The October 16 Southern RTO filing is finally up on its website at
www.southernco.com.  Look at the RTO documents and presentations.  They have
filed it as a petition for declaratory order asking that the Commission
approve their Gridco structure and rate proposal.  I did talk with FERC staff
yesterday when the filing was not on the web and told them that Southern was
the last to get their proposal up on the web.

	Joe Connor
	10/18/2000 10:13 PM

		 To: Richard Ingersoll/HOU/ECT@ECT
		 cc: Christi L Nicolay/HOU/ECT@ECT, Dan Staines/HOU/ECT@ECT, Daniel
Allegretti/HOU/EES@EES@ENRON@ECT, Donna Fulton/Corp/Enron@ENRON, James D
Steffes/NA/Enron@ENRON, Janine Migden/DUB/EES@EES@ENRON@ECT, Jeff
Brown/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Richard Shapiro/NA/Enron@ENRON,
Robin Kittel/HOU/EES@EES@ENRON@ECT, Ron McNamara/NA/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Steve Montovano/DUB/EES@EES@ENRON@ECT, Steve
Walton/HOU/ECT@ECT, Steven J Kean/NA/Enron@ENRON, Susan J
Mara/SFO/EES@EES@ENRON@ECT, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON@ECT, Tom
Chapman/HOU/ECT@ECT, Tom Delaney/Corp/Enron@ENRON, Tom
Hoatson/HOU/EES@EES@ENRON@ECT
		 Subject: Re: Enron Response to October 15 RTO Filings/Southeastern RTO

I don't have what Southern filed.  I understand the filing will be on
Southern's web page (www.southernco.com) within a couple of days.  I'm in
Virginia at the SERC Joint Committee Meeting and won't get the filings until
I get home Friday night.

As for an independent Board, as long as Southern owns the transmission assets
as it does in the proposed for-profit Gridco, there is about zero possibility
of them agreeing to have no say in the selection of the Board or in setting
the incentive plan.  What specifically are you concerned about (the selection
process or the incentive plan or both)?  I think we have a shot at getting
them to consider changing the setting of the incentive plan to let the Board
do it, as long as it is restricted such that it cannot impact the value of
the assets.  Any thoughts?


Enmax
usaa
Cibc
Caa


thanks for the email.  wti in the teens to say the least.  what a piece of ........  Swing by tomorrow when you can.  Dynegy has expressed interest in crude and products, and you work is need now through the merger at the very least.  Hang in there.

Jeff

-----Original Message-----
From: Seigle, Clayton
Sent: Wednesday, November 14, 2001 5:27 PM
To: Shankman, Jeffrey A.
Subject: checking in

 Jeff:

OPEC meeting was crazy.  Saudis are behaving strangely; they seem like they really don't have their act together.  It looks bearish for the time being -- WTI in the teens over the next few months unless war fears take it up.

I'm stopping in DC on the way home and will see you on Monday.  Hopefully we can talk shop sometime.

Clay


&The future is something which everyone reaches at the rate
of 60 minutes an hour(whatever he does, whoever he be.8  - C.S. Lewis

Watch the Enron Building lobby on Tuesday, April 24th, from 11:30am to 1:00pm
for information on innovative and futuristic technology!

Featuring:
Dr. Peter Bishop, Professor and Chair of the Future Studies Graduate Program
at the University of Houston
Mr. Clay Anderson, Astronaut at NASA
Gadgets & Gizmos by Oxford Technologies
Robotic Display by Students from Yates High School

Special Afternoon Workshop - 1:30pm to 3:30pm
"Images of Enron in 20208 with Dr. Peter Bishop & Amy Oberg
Join Amy Oberg with EES and Dr. Peter Bishop, Chair & Professor of the
University of Houston's Future Program,
to imagine Enron in the year 2020.  Attendees will actively engage in this
participatory workshop with the final summary
to be shared with Mr. Skilling's office.  "Futures tools" will be utilized to
consider Enron's characteristics, culture,
businesses and the world environment and participants will explore how the
future might play out for Enron.
The results of this session will be shared with Mr. Skilling's office.  RSVP
to Jessica at x31918 - space is limited

Word of the Day
prescience \PREE-shuns; PREE-shee-uns\, noun:
Knowledge of events before they take place; foresight.


This is a short note to apprise those that the before and after emissions
testing for the fuel valves and carbuerator at  the Spraberry C/S has been
submitted to
t he TNRCC.   The data showed fuel savings, as we had hoped it would and we
also received an emissions reduction benefit.  According to the agency, this
replacement activity will not require an amendment to the permit, which will
be a plus for the company.

My compliments to all involved for the retesting and efforts it took to make
this happen.  I will forward the response from the TNRCC as it is received.


ICF Kaiser Prices used for Genco.
Ben


---------------------- Forwarded by Maria Sandoval/HOU/ECT on 11/09/2000
04:46 PM ---------------------------

	Enron North America Corp.

	From:  Bernice Rodriguez                           11/09/2000 04:47 PM

To: Tina Sturm/Houston/Eott@Eott, Ray Fields/Houston/Eott@Eott,
otila_salinas@afcc.com, fgonzales@chubb.com, Andrea R Guillen/HOU/ECT@ECT,
Melissa Rodriguez/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Maria
Sandoval/HOU/ECT@ECT, Elsie Lew/HOU/ECT@ECT, Gerri Gosnell/HOU/ECT@ECT
cc:
Subject: Fwd: FW: THE FUTURE PRES???

---------------------- Forwarded by Bernice Rodriguez/HOU/ECT on 11/09/2000
04:44 PM ---------------------------

	From:  Julissa Marron @ ENRON                           11/09/2000 04:42 PM

To: Bernice Rodriguez/HOU/ECT@ECT, Amber Ebow/HOU/ECT@ECT
cc:
Subject: Fwd: FW: THE FUTURE PRES???

This may only be funny to the Democrats...
 - mini me.jpg


I think I have the formulas fixed in this one.


I have to admit, this is the first e-mail I have sent to the group, but do
find it necessary to be educated and sometimes enjoy reading about what is
going on in the neighborhood around us.

I felt it my duty to alert the association about an ATTEMPTED break in
that occurred at our home.  We have an attached storage room in the back
of our home, with a separate entrance.  It has old paint, some wood, a cat
carrier and a few items of NO value!!  It seems a few night ago someone,
armed with a cordless drill, and obviously nothing better to do, tried to
no avail to drill all the way through the door and break the lock to get
what was inside.  Fortunately our lock and the door are stronger and they
did not get in, but we did not hear them either.

We have filed a police report and tried to block access to the rear of our
house, however, it still steams us!  We are now more aware of our home as
well as the neighborhood.  Hope this helps!!!

Hank & Jennifer
1909 Morgan

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