Dear Vincent,  We'll have live reports from Capitol Hill on the latest Enron hearing as the Senate Energy Committee takes its first look at the energy-related questions raised by the company's collapse. Among witnesses scheduled to attend are Federal Energy Regulatory Commission Chairman Pat Wood, Commodity Futures Trading Commission Chairman James Newsome, and Vincent Viola, the head of the NYMEX. Lawmakers are deciding whether new legislation changes may be needed in the aftermath.     A legal fight is brewing between the White House and the General Accounting Office over the work of Vice President Cheney's energy task force.  Cheney is refusing to release more details on with whom the task force met and the substance of those talks.  The head of the GAO says he may be forced to file a lawsuit as early as Wednesday to obtain the information.     Finally from Washington, President Bush will deliver his State of the Union address Tuesday evening.  The Washington bureau will look at what we can expect from the speech regarding energy policy.   It's earnings time, and we'll continue to check in with companies from the Houston bureau.  On Tuesday during the 1:00 p.m. ET newscast, Parker Drilling Company President and CEO Robert Parker, Jr. joins us to discuss his company's fourth quarter 2001.  Also, Merrill Lynch-Houston Director Carl Kirst is stopping by during the 4:00 p.m. ET newscast to bring us an analysis of a compilation of earnings, including Williams and Dynegy.     We'll have more earnings reports from Tulsa as well - Williams Energy Services President and CEO Steve Malcolm will bring us his numbers first-hand from ENL headquarters during the 10:00 a.m. ET newscast.     Is fuel cell technology moving fast enough?  In Tuesday's special ENL Team Report, we'll take a look at fuel cells, their development, and potential for use.  Houston and Sacramento profile the technology, and talk to those working with it already.  West Coast Correspondent Kym McNicholas goes into the desert, where researchers are working hard to make fuel cells more practical for consumers.  From our Houston bureau, Correspondent Kim Benestante shows where fuel cells are actually being used.  The technology is being developed on the Gulf Coast, and is being put to use in Alaska.  Don't miss this ENL Special Report on Tuesday.    Closing Prices for Monday, Jan. 28, 2002    Crude: $20.05/bbl +$0.06   Unleaded: $0.5811/gallon -$0.0017   Heating Oil: $0.5313/gallon -$0.0060   Gas: $1.908/mmBtu -$0.129   Fwd uE(Feb.): $3.36/mmBtu -$0.10   Keep in mind things are subject to change at a moment's notice. Occasionally guests have to reschedule or change time slots.  We'll continue to do our best to keep you updated on future interviews and events.     Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.

	 	Jay Rickerts, EnergyNewsLive.com Anchor  View today's Energy Wrap Video Windows Media Player: 56K  |  100K  |  300K  Real Player: 56K  |  100K  |  300K  (Requires Windows Media Player or Real Player )   Experience all that Williams Energy News Live has to offer!   If you are receiving this letter for the first time and wish to continue, subscribe now    To stop receiving this letter, unsubscribe now    If you are having trouble receiving this e-mail, please let us know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Comments? Suggestions? Let us  know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Copyright 2001 Williams Energy News Live, LLC. All  Rights Reserved.


Dear PJM Attendees:

For PJM 101:  The Basics - Febuary 27, 2001 @ 9:00 AM ET

Your username and password will both be pjm + the first 3 letters of your
last name.  For instance my username AND password would be pjmcur.

Feel free to go to our web site and change this at any time.
http://www.virtual-workshops.com

If you have any questions regarding this, give me a call.


Start Date: 1/24/02; HourAhead hour: 12;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012412.txt


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November 27, 2001

FERC Enacts Major Constraints
on Wholesale Market

By Will McNamara
Director, Electric Industry Analysis

AEP, Entergy Corp. and Southern Company told by FERC to charge cost-based prices instead of market-based prices for wholesale spot transactions.

[News item from Reuters] The U.S. Federal Energy Regulatory Commission (FERC) voted 3-1 last week to adopt new rules to measure market power, as a condition for approving mergers and granting utilities the right to trade power in the wholesale market. FERC commissioners said the new test would improve a system that allowed a meltdown to take place in the California market last winter, when wholesale power prices soared to record highs amid tight supplies. FERC commissioners agreed to produce a new market power test based on supply margin assessments, which examines a company's importance in serving peak electricity loads. "If you're big enough to control the market at the time we look at it, you'll have mitigation put on you," said FERC Chairman Pat Wood.

Analysis: Many participants in the wholesale sector of the energy industry are still reeling from FERC's new ruling, which may have slipped past some radar screens considering that it was issued right before the long holiday weekend. This is a mammoth ruling on FERC's part, however, and it holds tremendous impact for those companies that increasingly find the lion's share of their profits coming from wholesale transactions. In addition, state regulators have also started gauging the impact of the ruling on retail rates, which some utilities may seek to increase as a way to compensate for shrinking profits in their wholesale operations. While FERC has presented this ruling as an attempt to circumvent on the national level problems experienced in the California market, the new limits on wholesale transactions can also be seen as another example of the "big stick" that the commission is using to force utilities into participating in regional transmission organizations (RTO). Further, the ruling is another striking indication that Chairman Wood is following through with his promise to monitor rampant wholesale markets while still attempting to support competition. The objective represents a tall order, and the new ruling from the commission is certain to prompt intense resistance among companies involved in wholesale trading.

Put into a nutshell, FERC has ruled that some companies can no longer charge unregulated, market-based rates for spot market wholesale transactions. Instead, companies identified as having market power and that aren't part of an approved RTO must charge cost-based prices for power that isn't committed in a long-term contract, and publicly disclose those cost-based prices. Columbus, Ohio-based American Electric Power (NYSE: AEP), Atlanta-based Southern Company (NYSE: SO) and New Orleans-based Entergy Corp. (NYSE: ETR) have been singled out as case studies on which FERC will be immediately applying its new standards for wholesale transactions. Note that Mirant Corp., a former subsidiary of Southern Company, has also been identified as having to submit information to FERC in order to gauge its level of market power separate from its former parent. The commission has essentially determined that these three utilities hold an unacceptable level of market power in the areas in which they operate. Under FERC's new market power "test," a generator or marketer is viewed as having too much market power if its electricity is "pivotal" during peak demand, which enables the company to demand a price above competitive levels. Regional transmission constraints will also be considered now as a measurement of a company's market power. This is a dramatic departure from previous standards, by which (under one of FERC's main criterions) a company that supplied less than 20 percent of the power needed in a particular region was freed from rate regulation on the federal level.

There are some important exceptions to the ruling. First, FERC has not eliminated the utilities' ability to charge market-based rates in areas where the grid and markets are controlled by a FERC-approved RTO. This is significant, as I will expand upon subsequently, because it indicates that there are secondary objectives in FERC's new ruling. In addition, the current ruling only impacts short-term sales transactions in which these three utilities are involved. In other words, long-term contracts that the three companies may have previously established or will establish in the future are not impacted by the ruling. However, the three companies named in the ruling will have to post pricing information related to long-term contracts, and FERC has retained the possibility that further price mitigation for long-term contracts may be necessary. Also note that the Western market, which already is under a price mitigation policy that FERC imposed in June, was not included in the new ruling.

The three utilities named in the ruling now have 15 days to submit proposals to FERC outlining a transition to charging cost-based wholesale rates for all power not currently committed to a buyer. Specifically, the utilities will have to post on their open-access same-time information systems (OASIS) the incremental cost of producing the uncommitted power during each hour in a 24-hour period. Moving forward, the price that the utilities can charge for non-committed power on the spot market will be the difference between their cost of production and the bid of more expensive power in the region that their power displaces. The new cost-based rates must be administered by an independent third party.

The new pricing standards revert back to an older, cost-based technique known as "split the savings." The methodology for this standard can get rather complicated, but essentially under FERC's new ruling the three companies identified will have to post their cost-based, incremental costs for spot power into the OASIS system for viewing by potential purchases. Purchasers who want to make a bid will post their decremental energy bid for not producing or buying the power on their own. The final price for the transactions will be the split between the seller's incremental cost and the buyer's decremental bid. For instance, if Southern Company bids its incremental cost at $20/MWh and a purchaser bids its decremental cost at $30/MWh, the transaction price would be $25/MWh. Assuming a midnight-to-midnight trading day, sellers would have to submit their incremental bid by noon on the previous day and buyers would submit their decremental bids by 6 p.m. What this potentially creates is an "information advantage" for buyers who have six hours to evaluate and respond to the incremental bids from some sellers. Some of the drawbacks to this system are that it requires both parties to post price information that may not be readily available and it potentially allows the purchaser to game the system by having access to the seller's original incremental bid and competing around the seller's price.

Note also that in a separate development FERC simultaneously opened a broad investigation under Section 206 of the Federal Power Act to apply the new market-based-sales policy to all U.S. sellers nationwide. What this means is that, although only three utilities are mentioned in this initial order, it is expected that FERC will continue to take steps to constrain what it believes to be erratic wholesale markets. Reportedly, some 30 companies are awaiting similar reviews by FERC to determine if the commission believes they exert market power. The 206 investigation reportedly also requires power providers with market-based sales authority to amend their tariffs within 60 days to provide FERC with open-ended authority to order refunds if the commission determines that market manipulation has occurred.

I made a previous reference to the "big stick" that FERC is carrying related to participation in RTOs. Remember that a few months ago, Chairman Wood had threatened to deny utilities that refused to join an RTO the benefits of charging market-based wholesale rates and swift approvals for merger applications, advantages that the chairman equated with the "new world" of the deregulated energy market. With this in mind, note that only Southern Company, Entergy and AEP are included in the present ruling (although it may be subsequently expanded). Southern Company and Entergy in particular have exhibited some resistance in following FERC's consolidation mandate regarding national RTOs, so it is probably not a mere coincidence that these three utilities have been singled out. This must be particularly painful for Southern Company, which gains a good part of its profits from wholesale trading and previously expressed plans to double the size of its generation assets over the next five years.

Interestingly, Commissioner Linda Key Breathitt represented the single dissenting vote in the ruling. Breathitt's concern was that the ruling had been pulled together too quickly and not enough time had been provided to evaluate the impact on wholesale markets. This issue will undoubtedly be contested, and to a certain extent the utilities impacted by the ruling appear to have been caught off-guard. AEP, Entergy and Southern Company all issued statements to the effect that they were uncertain about the extent to which the ruling would impact them, and that they were reserving the right for possible litigation.

Moreover, to summarize the commission's rulemaking, I think there are a handful of important points that should be considered. First, the ruling illustrates the steps that FERC is taking to revoke market-price authority that was for the most part unrestricted prior to the time that Pat Wood assumed his post as chairman. Second, FERC is implementing cost-based prices on the spot market only, and in only very defined circumstances. However, this could be an indication that the commission may extend cost-based pricing to other wholesale transactions, including long-term contracts, at a later time. Third, the "split the savings" cost-based formula could become fraught with its own problems. Its requirements are rather complex and it offers the potential to give power purchasers a market advantage on the spot market over power sellers, which will now be required to post incremental costs in the bidding process. Finally, one of the inherent drivers of FERC's new ruling is its desire to have large utilities join the RTOs that the commission has approved. It is very significant that the new ruling immediately impacts AEP, Entergy and Southern Company, utilities that have not only been deemed by the commission to have market power in their regions but which have also not yet joined an approved RTO. However, even though only three companies are immediately impacted by this ruling, it should not be overlooked that the ruling holds impact for the market as a whole as other sellers now will gain important pricing information about the major suppliers in certain areas. Thus, overall this is a very significant ruling and one that could substantially change the manner in which transactions in the wholesale power market are conducted.

An archive list of previous IssueAlert articles is available at
www.scientech.com <http://secure.scientech.com/issuealert/>

  _____

We encourage our readers to contact us with their comments. We look forward to hearing from you. Nancy Spring  <mailto:nspring@scientech.com>

Reach thousands of utility analysts and decision makers every day. Your company can schedule a sponsorship of IssueAlert by contacting Jane Pelz  <mailto:jpelz@scientech.com>at 505.244.7650. Advertising opportunities are also available on our Website.

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Our staff is comprised of leading energy experts with diverse backgrounds in utility generation, transmission and distribution, retail markets, new technologies, I/T, renewable energy, regulatory affairs, community relations and international issues. Contact consulting@scientech.com <http://consulting@scientech.com> or call Nancy Spring at 505.244.7613.

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SCIENTECH's IssueAlert(SM) articles are compiled based on the independent analysis of SCIENTECH consultants. The opinions expressed in SCIENTECH's IssueAlerts are not intended to predict financial performance of companies discussed, or to be the basis for investment decisions of any kind. SCIENTECH's sole purpose in publishing its IssueAlert articles is to offer an independent perspective regarding the key events occurring in the energy industry, based on its long-standing reputation as an expert on energy issues.

Copyright 2001. SCIENTECH, Inc. All rights reserved.
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How can you be on vacation this week if you are responding to this email?


---------------------- Forwarded by Kay Mann/Corp/Enron on 11/03/2000 04:57
PM ---------------------------

Kay Mann
11/03/2000 04:52 PM
To: jeff.ader@enron.com, heather.kroll@enron.com
cc:

Subject: FCEL consent to disclosure letter

As requested, I went the abbreviated route.

Kay


Please put this on my calendar, thanks

fletch

---------------------- Forwarded by Fletcher J Sturm/HOU/ECT on 03/21/2001
05:05 PM ---------------------------
From: John J Lavorato/ENRON@enronXgate@enronXgate on 03/15/2001 05:41 PM
Sent by: Kimberly Hillis/ENRON@enronXgate
To: Louise Kitchen/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Phillip K
Allen/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Thomas A
Martin/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT,
Fletcher J Sturm/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Karen
Buckley/ENRON@enronXgate, Chuck Ames/NA/Enron@Enron, Bilal
Bajwa/NA/Enron@Enron, Russell Ballato/NA/Enron@Enron, Steve
Gim/NA/Enron@Enron, Mog Heu/NA/Enron@Enron, Juan Padron/NA/Enron@Enron, Vladi
Pimenov/NA/Enron@Enron, Denver Plachy/NA/Enron@Enron, Paul
Schiavone/ENRON@enronXgate, Elizabeth Shim/Corp/Enron@ENRON, Matt
Smith/NA/Enron@ENRON, Joseph Wagner/NA/Enron@Enron, Jason
Wolfe/NA/Enron@ENRON, Virawan Yawapongsiri/NA/Enron@ENRON
cc: Ted C Bland/ENRON@enronXgate
Subject: Dinner Invitation - April 10, 2001 (For Trading Track)

You are cordially invited to attend cocktails and dinner on April 10, 2001 at
La Colombe d'Or restaurant located at 3410 Montrose Blvd (a map can be found
at www.lacolombedor.com).  Cocktail hour will start at 7:00 pm with dinner to
follow.

Please note:  this dinner is for the Trading Track Program.

Please RSVP to Ted Bland at extension 3-5275 before April 6, 2001.


Hi there,

I suggest that we have an Enron only call at 230 central on Sunday, in
advance of the  300 call with Delta.  I believe the call in number is 877 232
0064, pass code 25581#.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/30/2001 09:41
PM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 03/30/2001 08:11:55 PM
To: "'gregorylang@paulhastings.com'" <gregorylang@paulhastings.com>,
"'rvicens@deltapower.com'" <rvicens@deltapower.com>,
"'iparker@freshfields.com'" <iparker@freshfields.com>
cc: "'kay.mann@enron.com'" <kay.mann@enron.com>, "Keffer, John"
<JKeffer@KSLAW.com>

Subject: Revised ENA/PPL Ltr Agmt and GE Acknowledgment Ltr

 <<2XFLRED.DOC>>  <<2Z6C01!.DOC>>

Gentlemen:

We have enclosed the following documents for your review:

1.  Letter Agreement between ENA and PPL marked to reflect revisions from
the prior draft dated March 30, 2001; and
2.  Proposed form of acknowledgement letter from GE.

Greg, I think I included all of your comments, though perhaps not in the
exact places you described.  For example, the substance of your Rider 5(g)
appears in our revised Section 4(b); and the substance of your Rider 5(h)
appears in our Section 2 preamble and our new Section 2(g).

Please review and advise of any comments to same.  Thank you.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

Enclosures: 136641vR8/7
  138900v1

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 2XFLRED.DOC
 - 2Z6C01!.DOC


SANDRA BRAWNER,

The PEP system will be open through Friday, June 1st so that you may complete or decline your reviews.

Our records indicate that you have one or more requests for feedback that have not yet been submitted.  Please complete or decline these requests as soon as possible by logging into PEP at http://pep.enron.com and selecting Complete Feedback from the Main Menu.

If you have any questions, please contact the PEP Help Desk at:
Houston:  713.853.4777, Option 4 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@enron.com

Thank you for your participation in this important process.


After 15 years with Enron, Richard has decided to retire.  Please come by the Rates and Certificates department, EB3990,
	at 2:00pm Friday for some cake and punch.  Richard has already begun celebrating, as you can see below.

	Please forward on this message to any interested parties.


did you guys win


Please see attachment below with Christi's comments.

-----Original Message-----
From: Jacoby, Ben
Sent: Tuesday, June 05, 2001 12:22 PM
To: Mann, Kay
Cc: Krause, Greg; Nicolay, Christi
Subject: Midway Interconnect Agreement

Kay:

Greg has Christi's comments on the FPL Construction & Connection Agreement,
and he will be sending us those comments today in a marked document. Have we
engaged outside counsel to review this agreement? I'd like to have a
commercial / legal review fully completed, and then get accounting / finance
to comment. I this something you were planning to have Carlos to work on
given his recent work on ComEd and Ameren?

Please let me know. Thanks.

Attached is the original generic form of FPL Connection and Construction
Agreement for your reference.

Ben


I think the industry needs to look at Enron credit rating like a male looks at a women's Bra size.
A triple B is actually better than a triple A
What do you think?

 -----Original Message-----
From: 	Legler, Michael J.
Sent:	Wednesday, November 07, 2001 9:49 AM
To:	Schwieger, Jim
Subject:	RE: Good Morning!

i'm not so sure that i will put anymore into ENE.....just depends on how low it goes!

We go to Dallas this weekend.
We may have a couple hour layover in Houston on Sunday evening so may have to have you come visit after the baseball party.

I'm making an except by responding to your e-mail.......it is usually my policy not to respond to such things!!! hahahaha

Take er e z,
Mike

 -----Original Message-----
From: 	Schwieger, Jim
Sent:	Wednesday, November 07, 2001 8:33 AM
To:	Legler, Michael J.
Subject:	Good Morning!

The sky is falling! The sky is falling!
Oh, never mind that's just Enron stock price!
It is probably crazy but I'm buying some more here!
Good thing that with Equity that you can not lose more than your investment!

Josh lost his last baseball game last night 6-11.
It was not so much they got beat as they gave it away.
They were ahead by 2 going into the last inning and had 9 runs score on 11 errors.
I think we figured the other team had something like 9 outs that inning.

Josh and I are going to LSU this weekend.
Jarrod is staying with Joan since he has an end of season baseball party on Sunday.
The party is at 2:00 and we are scheduled to get into Hobby at 1:10 so I hope to make it to the party.

Be Safe and may the FORCE be with you!
	Swig


Tana:  per my voice mail re:  EOL.
----- Forwarded by Sara Shackleton/HOU/ECT on 07/31/2000 08:18 AM -----

	Noel Petterson@ENRON
	07/31/2000 08:05 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Alcoa Master Agreement

Sara, Would you please take a look at the email below regarding Alcoa's
Master Agreement with Enron.  Thank you. - Noel
---------------------- Forwarded by Noel Petterson/Corp/Enron on 07/31/2000
08:00 AM ---------------------------
   Carol St Clair @ ECT                07/30/2000 09:22 AM

To: Noel Petterson/Corp/Enron@ENRON
cc: Sara Shackleton/HOU/ECT@ECT

Subject: Re: Alcoa Master Agreement

Noel:
I am on maternity leave.  Please contact Sara Shackleton about this.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	Noel Petterson@ENRON
	07/28/00 02:56 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc: Frank L Davis/HOU/ECT@ECT
		 Subject: Alcoa Master Agreement

Carol,

Tim Reyes of Alcoa would like to make sure that their current master
agreement with Enron will encompass trading metal products, specifically,
aluminum products on EOL.  I am hoping that you are the correct person to
answer his question.

If you require more information Please contact Mr. Reyes at 865-594-4734.

Thank you,

Noel


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
01/20/99 09:37 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  xtrials@optioninvestor.com (Option Investor Newsletter     Trials)
                       01/19/99 09:12 PM

Please respond to xtrials@optioninvestor.com
To: Option Investor Newsletter Trials <xtrials@optioninvestor.com>
cc:  (bcc: Mark - ECT Legal Taylor/HOU/ECT)
Subject: Tuesday - Option Investor Newsletter 3 of 3

The Option Investor Newsletter         Tuesday  1-19-98
Copyright 1998, All rights reserved.
Redistribution in any form strictly prohibited.

**********************************************************
Great Expectations - By Pinnacle Capital Advisors
**********************************************************

With a number of key corporate earnings reports due out this
week, we have highlighted below the companies that will likely
have the greatest impact on the overall market.  Keep close
track of these companies.  If they beat expectations, we are
likely to move higher.  If not, we are likely to re-test our key
support levels again.

Options traders playing the Technology sectors, watch Microsoft
on Tuesday.  Microsoft will likely dictate the climate for
the technology sector for 1Q99.

Reporting                            Estimated   Pinnacle
Date       Company                         EPS      Index
--------------------------------------------------------------

Hardware:
1/19 WDC   Western Digital Corp.         -1.01        5.4
1/20 QNTM  Quantum Corp.                  0.24        6.2
1/20 SGI   Silicon Graphics, Inc.        -0.19        7.2
1/21 GTW   Gateway                        0.78        1.4
1/21 IBM   Int'l  Business Machines       2.45        5.6
1/21 IOM   Iomega Corp.                   0.05        8.3
1/22 SEBL  Siebel Systems Inc             0.16       11.3
1/22 STK   Storage Technology Corp.       0.51        5.9
1/21 SUNW  Sun Microsystems, Inc.       - 0.66       10.6

Software:
1/19 CA    Computer Associates            0.61        4.5
1/19 CPWR  Compuware Corp.                0.45       11.6
1/19 CTXS  Citrix Systems Inc             0.49       15.1
1/19 MSFT  Microsoft Corp.                0.59       10.8
1/20 CHKPE Check Point Software           0.47       13.0
1/21 BMCS  BMC Software                   0.39        4.6
1/21 SYBS  Sybase Inc.                    0.05        3.8

Semiconductor:
1/19 XLNX  Xilinx                         0.40       13.2
1/20 CRUS  Cirrus Logic                   0.04        6.6
1/20 TXN   Texas Instruments              0.54        6.5
1/21 CUBE  C-Cube Microsystems Inc.       0.31        9.1
1/21 LSCC  Lattice Semiconductor Corp     0.43        9.9
1/21 ADPT  Adaptec Inc.                   0.21        8.3
1/21 QLGC  QLOGIC Corp.                   0.70        4.5

Networking:
1/19 ASND  Ascend Communications          0.31        5.3
1/19 FORE  FORE Systems                   0.10        9.5
1/19 NETA  Network Associates             0.46        1.3
1/19 NVLS  Novellus Systems               0.23        3.0
1/19 QCOM  Qualcom Inc.                   0.59        8.7
1/21 LU    Lucent Technologies            1.00        4.5

Telecommunications:
1/20 USW   US West , Inc.                 0.73        7.0
1/21 AIT   Ameritech Corp.                0.61        3.8
1/21 BEL   Bell Atlantic                  0.69        2.1

Internet:
1/19 ONSL  Onsale Inc                    -0.16        7.0
1/20 ATHM  At Home Corporation           -0.06        4.4
1/20 DCLK  DoubleClick Inc.              -0.26        2.9
1/20 SPYG  SpyGlass Inc.                 -0.15        5.2
1/21 XCIT  Excite Inc.                    0.04        5.0

Financial:
1/18 PNC   PNC Bank Corp                  0.92        8.6
1/19 BK    Bank Of New York               0.40        1.7
1/19 ONE   Bank One Group                 0.88        7.2
1/19 BAC   BankAmerica Corp.              0.93        2.4
1/19 COF   Capital One Financial          1.04        4.9
1/19 CMB   Chase Manhattan Corp.          1.19        4.0
1/19 JPM   Morgan (J.P.) & Co.            0.38        6.2
1/19 WFC   Wells Fargo Inc.               0.46        9.3
1/21 BKB   BankBoston Corp.               0.70        9.4
1/21 BT    Bankers Trust New York Corp    0.58         .6

Brokerage:
1/18 SCH   Schwab (Charles) Corp.         0.23        4.5
1/19 MER   Merrill Lynch & Co             0.64        4.3
1/20 PWJ   Paine Webber Group             0.55        3.8
1/21 AMTD  AmeriTrade                     0.09        2.4
1/21 DLJ   Donaldson Lufkin & Jenrette    0.49        4.5

Pharmaceutical:
1/19 PFE   Pfizer Inc.                    0.52        2.2
1/20 BMY   Bristol-Myers Squibb           0.90         .7

Airline:
1/19 DAL   Delta Air Lines, Inc.          1.25        8.4
1/19 NWAC  Northwest Air.                -1.47        2.6
1/20 AMR   AMR Corp.                      1.16        1.7
1/20 UAL   UAL Corp                       1.47        1.6
1/20 U     US Airways Group Inc.          1.21        2.9
1/21 LUV   Southwest Airlines Co.         0.28        4.3

Oil & Gas:
1/19 SLB   Schlumberger Limited           0.50        1.8
1/21 XON   Exxon Corporation              0.57        1.8

Consumer:
1/18 CCE   Coca-Cola Enterprises         -0.09        1.8
1/20 GM    General Motors Corp.           2.61        2.5
1/21 CLX   Clorox Co.                     0.54         .8
1/21 DIS   Disney (Walt) Productions      0.24         .8
1/21 F     Ford Motor Co.                 1.27        9.8
1/21 S     Sears, Roebuck And Co.         1.45        4.6
1/21 PRD   Polaroid Corp.                 0.12        1.1

Excessive Optimism / Pessimism

Often times when companies release corporate earnings, the stock
will move/gap up or down depending on the level of expectation
built into the stock prior to the release date.  This level of
expectation can be measured, in part, by the Call/Put ratio and is
represented by our Pinnacle Index figure.  The average Pinnacle
Index is 2.0.  Therefore, an index appreciably higher than 2.0
reveals a high level of optimism while an index lower than 2.0
reveals a high level of pessimism.  For aggressive options traders,
we have highlighted companies reaching extreme expectation levels
below:

For example, the company with the highest and lowest expectation
reporting this week is Citrix (CTXS) and Bankers Trust (BT) with a
Pinnacle Index of 15.1 and 64, respectively.  This suggests that if
Citrix does not beat their estimate on Tuesday, they are likely to
sell-off.  Conversely, if Bankers Trust beats their estimate or
reports any favorable news, they are likely to move higher.

Reporting                            Estimated   Pinnacle
Date       Company                         EPS      Index
--------------------------------------------------------------

Great Expectations:
1/19 CTXS  Citrix Systems Inc             0.49       15.1
1/20 CHKPE Check Point Software           0.47       13.0
1/19 XLNX  Xilinx                         0.40       13.2
1/19 CPWR  Compuware Corp.                0.45       11.6
1/22 SEBL  Siebel Systems Inc             0.16       11.3
1/19 MSFT  Microsoft Corp.                0.59       10.8
1/21 SUNW  Sun Microsystems, Inc.         0.66       10.6
1/21 LSCC  Lattice Semiconductor Corp     0.43        9.9
1/21 F     Ford Motor Co.                 1.27        9.8
1/19 FORE  FORE Systems                   0.10        9.5
1/21 BKB   BankBoston Corp.               0.70        9.4
1/19 WFC   Wells Fargo Inc.               0.46        9.3
1/21 CUBE  C-Cube Microsystems Inc.       0.31        9.1
1/19 QCOM  Qualcom Inc.                   0.59        8.7
1/19 DAL   Delta Air Lines, Inc.          1.25        8.4
1/21 ADPT  Adaptec Inc.                   0.21        8.3
1/19 ONSL  Onsale Inc                    -0.16        7.0

Low Expectations:
1/21 BT    Bankers Trust New York Corp    0.58         .6
1/20 BMY   Bristol-Myers Squibb           0.90         .7
1/21 CLX   Clorox Co.                     0.54         .8
1/21 DIS   Disney (Walt) Productions      0.24         .8
1/21 PRD   Polaroid Corp.                 0.12        1.1
1/19 NETA  Network Associates             0.46        1.3
1/21 GTW   Gateway                        0.78        1.4
1/20 UAL   UAL Corp                       1.47        1.6
1/20 AMR   AMR Corp.                      1.16        1.7
1/19 BK    Bank Of New York               0.40        1.7
1/19 SLB   Schlumberger Limited           0.50        1.8

The Power of Sentiment Analysis

Last October (1998), Pinnacle Capital Advisors tracked corporate
earnings reports and advised subscribers about the impact that
excessive optimism and pessimism can have on the stocks's performance
following the release of its quarterly earnings report.  If you
recall, we identified several stocks that reached excessive sentiment
levels including Intel (INTC) and Pfizer (PFE).

Reporting                            Estimated   Pinnacle
Date        Company                        EPS      Index
--------------------------------------------------------------
Excessive Optimism:
10/13 INTL  Intel                          .79       5.2
10/13 JNJ   Johnson & Johnson              .70       3.7
10/15 AAPL  Apple Computer                 .49       3.6

Excessive Pessimism:
10/13 JPM   JP Morgan                     1.08        .4
10/12 C     Chrysler                       .87        .7
10/14 PFE   Pfizer                         .57        .9
10/13 GM    General Motors                 .98-      1.2
10/16 G     Gillette                       .30       1.3
10/14 MER   Merrill Lynch                  .56       1.5

The first is Intel (INTC).  The semiconductor powerhouse had
rallied ahead of its earnings report Tuesday night (10/13) and closed
at $83.88.  What's interesting is that they beat the street's estimate
by 9 cents and yet the stock gapped down the next morning (10/14).
And despite the 330 point Dow rate cut rally on Thursday (10/15), the
stock had trouble taking out its recent previous high of $85.88.  Here,
our sentiment analysis alerted subscribers that expectations had gotten
ahead of itself and that despite the good news, the stock had trouble
advancing.

We saw the opposite in the case of Pfizer (PFE).  This blue-chip
Pharmaceutical company had sold off more than 20% from its summer high
($120) to close at $95.50 before its release Tuesday night (10/13).
Here, Pfizer actually missed its estimated earnings by a nickel.
Although the stock initially gapped down the next morning, it quickly
rallied and closed higher. Our message: it's all about understanding
and managing expectations.

Pinnacle Index

What is the Pinnacle Index.  It is simply the put/call ratio at key
overhigh benchmark levels.  Typically, there should be two (2) calls
for every one (1) put.   So when this ratio reaches extremes levels,
it can presage key turning points in the stock.  The average Pinnacle
Index, therefore, should read 2.0.

One of the key components that separate OptionInvestor.com from any
other advisory services is our sentiment indicator or Pinnacle Index.
The Pinnacle Index is designed to measure the level of overhead
resistance at key overhead benchmark levels. This analysis can give
savvy option traders a jump on other traders.

It's important to note that the Pinnacle Index, like many
sentiment indicators, is a contrarian indictor.  This means
that the stock can and will go higher or lower despite what
our sentiment indicators might suggest.  However, our
experience has shown that the market is subject to a
precipitous sell-off if the Pinnacle Index reaches extreme
levels.

FREE TRIAL READERS
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                      DISCLAIMER
*************************************************************
This newsletter is a publication dedicated to the education
of options traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock or option but an information resource to aid the
investor in making an informed decision regarding trading in
options. It is possible at this or some subsequent date, the
editor and staff of The Option Investor Newsletter may own,
buy or sell securities presented. All investors should consult
a qualified professional before trading in any security. The
information provided has been obtained from sources deemed
reliable but is not guaranteed as to accuracy or completeness.
The newsletter staff makes every effort to provide timely
information to its subscribers but cannot guarantee specific
delivery times due to factors beyond our control.


Dale,

To follow up on my earlier message. Anjam expressed his concern
that Sharad is holding off on our offer. I would consider bumping it up to
55,000
with a sign-on bonus. We badly need fresh talent.

 I shall be in Australia next week. If you need
any additional intervention from us, please, call Stinson.

Vince

Vince J Kaminski
07/06/2000 08:56 AM
To: Dale Surbey/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Numbers for Sharad Agnihotri

Dale,

I was very impressed with Sharad and I think that we should consider paying
offering him
 o50,000. I am not sure about guaranteed bonus. What do you think?

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/06/2000
08:59 AM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Anjam Ahmad                           07/05/2000 10:56 AM

To: Dale Surbey/LON/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
cc: Kate Bruges/LON/ECT@ECT
Subject: Numbers for Sharad Agnihotri

Hi Dale (& Vince),

I have now gathered everyone's views and the consensus is that we should hire
Sharad to work with me on front-office pricing and so we should proceed to
the offer stage.  As you can see his salary is o43,500 currently and he
appears to have a guaranteed bonus of o25,000 for next year.  He would join
for >o50,000 from my discussions with Alex Blair, the consultant.  He is very
interested in Enron, but is also talking to Morgan Stanley.  I discussed with
Vince, who recommended that Sharad should come in at the same level (rank) as
Kirstee Hewitt; I would also like to arrange for a direct reporting line to
me for Sharad.

Regards,

Anjam
x35383

P.S. Kate:  I have attached the agencies terms and conditions below:

---------------------- Forwarded by Anjam Ahmad/LON/ECT on 05/07/2000 16:21
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Alex Blair <Alex.Blair@alexmann.com>
05/07/2000 15:29

To: "'Anjam Ahmad'" <Anjam.Ahmad@enron.com>
cc:

Subject: Numbers

Anjam,
??????? as requested please find enclosed details on Sharad's numbers:
??????? Basic Salary : o40,000
??????? Car Allowance : o3,500
??????? (paid in Cash)
??????? Annual Bonus : o13,000 (this bonus was paid for ???????
99-00?? ??????? ??????? ??????? 8 mths work April-Dec)

Total o56,500

Sharad has been informed that his bonus payments for year 00-01 will be
floored at o25,000.? Sharad's expectations therefore are to receive a base
salary of between o57.5-o60K plus bonus.
I hope this is of use and ask that if you have any questions that you do not
hesitate to call.

Alex Blair
Senior Consultant
alex.blair@alexmann.com
Tel:0207 891 6671
Fax:0207 905 1313
Web: <http://www.alexmann.com>
"The Alexander Mann Group has a stated policy for the use of electronic
mail which is rigorously enforced throughout the Group. The contents of
this e mail should meet the requirements of the policy - if you would
like further details please forward this message to info@alexmann.com
<mailto:info@alexmann.com> or call 0207 242 9000.
The information contained in this electronic mail message is
confidential. It is intended solely for the use of the individual or
entity to whom it is addressed and others authorised to receive it. If
the reader of this message is not the intended recipient, you are hereby
notified that any use, copying, dissemination or disclosure of this
information is strictly prohibited."


I will call Jim and see if he has a list.  I would assume he does.
 -----Original Message-----
From: 	Brackett, Debbie R.
Sent:	Wednesday, November 14, 2001 3:32 PM
To:	Furey, Denise
Subject:	RE: Bond Requirement and Other Financial Guarantees

	Surety bonds are handled by Jim Bouillon's risk mgmt group. I'd start there.

	Let me know if I can help.

	Debbie

 -----Original Message-----
From: 	Furey, Denise
Sent:	Wednesday, November 14, 2001 3:23 PM
To:	Brackett, Debbie R.
Subject:	FW: Bond Requirement and Other Financial Guarantees

How would I get this info?
 -----Original Message-----
From: 	Steffes, James D.
Sent:	Wednesday, November 14, 2001 3:19 PM
To:	Ogenyi, Gloria; Furey, Denise; Fite, Rebecca
Cc:	Sharp, Vicki; Herndon, Rogers; Richter, Jeff; Wood, James M.
Subject:	Bond Requirement and Other Financial Guarantees

Denise --

Do you have a listing of all bonds that EES (and its affiliates) has in place for retail marketing, including wholesale ISOs? Speaking with Gloria, we don't keep this information in Govt Affairs.  Rebecca Fite keeps bond information required in the State licensing processing.  The place that I think that is missing is Wholesale Service providers (e.g., ISOs).

I think that we need to expand this idea of Bonding to "Financial Guarantees" including with Utilities, States, and Wholesale Service Providers.

Maybe the best way to start is to work backwards from EES active markets and determine what is needed in each locale?

Thanks,

Jim

 -----Original Message-----
From: 	Sharp, Vicki
Sent:	Wednesday, November 14, 2001 2:50 PM
To:	Herndon, Rogers; Wood, James M.; Smith, Mike; Keller, James
Cc:	Ogenyi, Gloria; Grisaffi, Mary; Steffes, James D.; Kingerski, Harry; Furey, Denise; Richter, Jeff
Subject:	Re: Bond Requirement

Please be sure to copy Jim Wood on all correspondence relating to bonds- from a product management standpoint, I think Jim needs to be aware of these issues as failure to maintain bonds will significantly impact our business. .  I still think that  we would want to have a single person responsible for reporting all potential situations that may cause a default /bad pr situation and  notify the EES office of the chairman  in a manner that would allow plenty of opportunity to cure ( i.e., before it is a crisis).  Gloria and Denise, will you take that on?

From:	Rogers Herndon/ENRON@enronXgate on 11/14/2001 02:44 PM
To:	Gloria Ogenyi/ENRON@enronXgate
cc:	Mary Grisaffi/ENRON@enronXgate, James D Steffes/ENRON@enronXgate, Harry Kingerski/ENRON@enronXgate, Denise Furey/ENRON@enronXgate, Jeff Richter/ENRON@enronXgate, Vicki Sharp/HOU/EES@EES
Subject:	Bond Requirement

Gloria -

Could you please help us gather the facts on what the $12 MM Surety Bond currently being requested (#6131506) is for - is this PG&E?.  Mary informed me that funds ($36,000) may not be available, is this correct?

It is my understanding that Credit, Services and Regulatory will be monitoring and processing bond requirements.  As such, I would like to know how this would impact EES' business and definitely want to be aware of any default situation prior to reading about it in the press.

Thanks,
Rogers


Here are the absolute, final, once-and-for-all-not-to-be-changed-again vendor
letters.


---------------------- Forwarded by Angela Barnett/HOU/ECT on 12/13/2000
02:54 PM ---------------------------

Daily-Blessings <dailyblessings.10@lists.postmastergeneral.com> on 12/13/2000
10:25:01 AM
To: ANGELA.BARNETT@enron.com
cc:
Subject: Daily-Blessings 12/13/00

Daily Blessing
Daily Survival Kit
http://www.daily-blessings.com/bless108.htm

Long, Long Ago
http://www.daily-blessings.com/ch20.htm

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Good Morning!

Samantha had an errand to run before work this morning, and will be in at
9:30am.  If you need assistance, feel free to call me at 5-3317.
Regards, Keegan Farrell


Everyone,

In an effort to protect our computing systems from viruses and other potential threats, we have disabled the ability to get to external e-mail sites (AOL, Yahoo, Hotmail, etc.) while you are using an Enron computer connected to our network.

If you are using a particular external e-mail site for valid business reasons and this action we have taken has impacted your business, you can contact your Resolution Center for assistance.  Each case will be analyzed for validity and exceptions granted based on business related needs.

Thank you for your understanding that protecting our revenue generating systems is our highest priority.

Enron Global Technology


Ben,
Attached is the latest draft of the Beck report. I'm attaching a list that I
prepared that generally has the items that are outstanding; however, the
priority items are the back up information on performance testing (& curves)
of the inlet fogging system and the peaking testing (output) of the three
units and the confirmation of the data in table 5 (long term performance of
the projects).
I have the O&M contracts, the monthly reports, and the contracts between OEC
and Caldwell for the inlet fogging system, but these do not contain what
Conrad (RW Beck) is looking for. My understanding from the operations guys is
that there is data for the above items.
As discussed, Conrad will be here Monday morning, so if we could have the
back up information for these items by then, it would expedite the process
tremendously.
You can reach me at 54426 if you have any questions.
Thanks for your help.
Joana


You know all and see all.  Who can I start sending all these pricing
questions to?

	Enron North America Corp.

	From:  Megan Parker @ ENRON                           03/24/2000 11:42 AM

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Hunt Petroleum

I am told that you are the one to ask about CES deals.  I have some CES deals
for Hunt Petroleum that Hunt says they should not be paid for.  The details
are below.  I am trying to find out who to pay.

Megan
---------------------- Forwarded by Megan Parker/Corp/Enron on 03/24/2000
11:38 AM ---------------------------

	From:  Megan Parker                           03/24/2000 10:16 AM

To: Ami Chokshi/Corp/Enron@ENRON
cc:

Subject: Hunt Petroleum

There are three deals entered under Hunter Petroleum which Hunt says should
not be paid to them.  Deal 136863 they say should be paid to Aviare Energy.
Deal 136835 and deal 136845 they say should be paid to Hassie Hunt.  Can you
tell me who we are suppose to pay for these meters?  Their payment is due on
Monday, so whatever you can tell me today would be greatly appreciated.

Thanks,
Megan


Dear Felipe

Nice to hear that the register.com deal is going through.  Again, here are
the domains that we need for EnronOnline.  (So, enrononline.co.jp,
enrononline.com.sg, etc.)

As I mentioned to you, let's try to get all of the unrestricted domains
immediately and all of the information fro the restricted domains as soon as
possible.  The first tier is of course a higher priority, but I recognize
that we may be able to get some of the second tier domains faster, if they
are unrestricted.

As you contact register.com, you should tell them that we want all restricted
domains ASAP and that we want all of the information and materials necessary
to register the unrestricted domains.  As a precaution, I would tell them
that they should not register unrestricted domains for us without our consent
(Dave Forster's approval), simply because, as in the case of Japan, we don't
want to take another Enron business unit's one domain, if the country's rule
is 'one domain name per company'.  (Presumably they wouldn't be able to do
that any way, because we'd have to provide them with that information, but
just in case!)

For now (unless Dave Forster objects), let's use my London RC code (because
as the deal stands, it's an Enron Europe company signing the contract with
register.com).  It is RC 100487.

Thank you very much Felipe!

Jay

PS Mark & Justin, I thought you'd like to know about this, just in case there
are any legal/tax issues that we should be aware of!


You have signed the last beam....
 Now  watch it rise.

Enron employees are invited to celebrate the
 Topping-Out of Enron Center South
 this afternoon at Antioch Park
3:45 pm - 4:30 pm.

In celebration of Arbor Day, tree saplings will be
handed out to all participants.

In the event of rain, the Topping-Out Celebration will air on IPTV Wednesday
and
the tree saplings will be distributed in the plaza today at 4:00 pm


Carl,

Depends if it is more like financial or insurance type hedging.

I shall leave it to Vasant to decide.

Vince

Carl Tricoli@ENRON
04/05/2000 11:19 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Zimin Lu/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Vasant
Shanbhogue/HOU/ECT@ECT, Christopher A Helfrich/HOU/ECT@ECT
Subject: Re: Carl Tricoli

Vince, thank you for the response.  In the interim, we met with Vasant
Shanbhogue yesterday and explained the deal and what we needed.  Should
Vasant continue to work on it, or would you still like us to loop in Zimin
Lu?

Vince J Kaminski@ECT
04/05/2000 10:11 AM
To: Zimin Lu/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Carl Tricoli/Corp/Enron@Enron

Subject: Carl Tricoli

Zimin,

Carl Tricoli  (5-8958) will call you regarding help on ethanol (hedging).

Vince


Hey Mike
Due to a change of the SQL Server database, the SO2 Report program had to be modified.
Attached is the revised copy of the program.  You will need to copy the attachment to your
C:\Program Files\SO2Report directory.

While testing the revised code, I ran the latest report (dated 10/12/2001) which can now be found on the network.

Also attached is a copy of the program documentation.
Remember that data files must be kept in O:\Liquids\Liquids\Coal\SO2_Report\Files.

Wade


can i read this at work dude?


I want you to lunch with Nony and I tomorrow?

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


We may be able to handle this specific issue outside the policy committee,
but I think it would be a good idea to set the next one anyway.  I'm sure
we'll have something we'll need to talk about.

From: Sherri Sera/ENRON@enronXgate on 06/12/2001 01:17 PM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: Next policy committee meeting

Steve, given yesterday's conversation toward the end of the executive
committee - i.e., countries ENE will do business in - do you think we should
try to set up another policy committee meeting?  Jeff's schedule is pretty
ugly for the rest of this month and early July, but could probably do
something mid-July.  I'm not sure what Ken Lay's schedule looks like,
though.  Please advise.  Thanks, SRS


Start Date: 1/11/02; HourAhead hour: 2;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011102.txt


FYI
The curve - shift P&L information that is used in the VaR model for backtesting comes from the business units. Under the "garbage in, garbage out" rule we therefore have had some errors in the backtest data. However, the errors do not significantly affect the backtest result (i.e. it still backtests ok), but they do cast doubt on the P&L numbers that have been submitted.
DP

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Thursday, December 13, 2001 4:58 PM
To:	Port, David
Subject:	FW: Power P&L by Day

 -----Original Message-----
From: 	White, Stacey W.
Sent:	Thursday, December 13, 2001 4:48 PM
To:	Lavorato, John; Hayden, Frank
Cc:	Evans, Casey; Postlethwaite, John; Dahlke, Andrea
Subject:	Power P&L by Day

John,

This file gives you similar information to the file that Jeff sent you for gas.  Frank is using it to continue investigating what went wrong with the extraction from the VaR model.  If you want me to change anything, let me know.

Thanks,
Stacey


Mark -

Good suggestion.  I spoke to Scott Rebltiz who told me that important
decisions are to made this week at OPIC concering the Gaza project.  I will
work with Scott and John Hardy to make sure that our message is consistent
and helpful.  I will also work with Mac for a comprehensive update and
strategy.

-Chris

Mark Schroeder@ECT
02/09/2000 06:35 AM
To: Joe Hillings/Corp/Enron@ENRON, Chris Long/Corp/Enron@ENRON
cc: Steven J Kean/HOU/EES@EES, Mac
McClelland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Department of Energy Pre-departure Briefing w/ Asst. Secy. Goldwyn

Joe?Chris - this covers some of my new turf.  We have, I am told, a power
project in Gaza that we are working on.  It is probably early days, but
perhpas Mac mcClelland in Dubai can shed some light on whether we would want
to get that project on the Secretary of Energy's radar screen.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 09/02/2000
11:33 ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Scott <s-mccarthy@bciu.org>                           08/02/2000 22:00

To: mahn@usccmail.bms.com, calbee@dfintl.com, dean.allen@pareuro.com,
falmeida_sikorsky@compuserve.com, emily.altman@msdw.com,
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diana.keegan@aig.com, kelleyb@epenergy.com, john.r.kelly@exxon.sprint.com,
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irobins@volt.com, damian.robinson@aexp.com, vrocca@louisberger.com,
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marilyn.schorin@intl.pepsi.com, mschroeder@enron.com,
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astraus@skadden.com, eugene.r.sullivan@chadbourne.com,
bill_sullivan@anadarko.com, mark.f.supko@lmco.com, sally.susman@aexp.com,
david.syphard@crssc.com, president@artleygroup.com, VTarallo@aol.com,
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andy_veje@parsons.com, frank.verrastro@dvn.com, aracelia.vila@spcorp.com,
judith.a.vincent@usa.conoco.com, evis65677@aol.com,
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jwalden@vancoenergy.com, peter_walters@guardian.com,
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thomas_h_weese@ccgate.ueci.com, jwei@haythecurley.com, v-weil@bciu.org,
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ron.will@nrgenergy.com, elizabeth.f.williamson@usa.conoco.com,
dwillkens@dfintl.com, scarbroughs_plum@usa.net,
Debra_Winchester@res.raytheon.com, cwindels@pfizer.com, frank.wisner@aig.com,
wisnoskik@epenergy.com, dwolff@louisberger.com, ctompkins@louisberger.com,
kwoodcock@aesc.com, sross@aesc.com, WoodsHR@bp.com,
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oyandle@itsa.org, yannif@labs.wyeth.com, cordelia_m._yoon@newyorklife.com,
lzak@mintz.com, ezsol@aol.com, lawrence.ziman@chadbourne.com,
czimmerman@dfintl.com, dzsebik_sikorsky@compuserve.com
cc:

Subject: Department of Energy Pre-departure Briefing w/ Asst. Secy. Goldwyn

TO:  BCIU Members
FROM: Scott McCarthy
  Director of Programs
  Ph: 212-490-0460, ext. 224
  Fx: 212-697-8526

PRE-DEPARTURE BRIEFING

BCIU and the U.S. Department of Energy are pleased to announce an industry
briefing with:

ASSISTANT SECRETARY OF ENERGY DAVID GOLDWYN
IN PREPARATION FOR ENERGY SECRETARY BILL RICHARDSON'S
MIDDLE EAST TRIP
(EGYPT, ISRAEL, PALESTINIAN AUTHORITY,
 KUWAIT, AND SAUDI ARABIA)

DATE: Thursday, February 17, 2000
TIME: 10:30 a.m. - 11:30 a.m.
PLACE: Department of Energy
  Room 7C016
  1000 Independence Avenue, S.W.
  Washington, DC 20036

Secretary of Energy Bill Richardson is visiting the Middle East February
19-26 where he will meet with officials in Egypt, Israel, the Palestinian
Authority, Kuwait and Saudi Arabia.  He is expected to sign bilateral
Science and Technology Agreements (or annexes to existing agreements)
focused on solar and renewable energy, advanced power systems, and/or
electric vehicle programs with Egypt and Israel, as well as an Energy
Cooperation Agreement with the Palestinian Authority.  He will meet the
leaderships of Kuwait and Saudi Arabia on international oil company
involvement in the upstream oil sector and other issues important to U.S.
industry.

BCIU invites you to join Department of Energy Assistant Secretary for
International Affairs David Goldwyn, Deputy Assistant Secretary Theresa
Fariello, Special Assistant to Secretary Richardson for Policy Rachel King,
and Director for NIS, Russia and Middle East Affairs Len Coburn for an
industry roundtable in preparation for this visit.  Companies are
encouraged to bring background material for the Secretary's use during the
trip to this meeting if they have not been provided to the Department of
Energy previously.

If you have any questions regarding this program, please contact Jeffrey
Donald at tel. (202) 775-6074, fax: (202) 775-6025; E-MAIL j-donald@bciu.org.
-------------------------------------------------------------
If you would like to attend, please complete the form below and respond via
reply e-mail OR fax your reservation to (202) 775-6025.

Name:____________________ Title:__________________________

Social Security Number (for clearance into
 the Department of Energy):______________________

Company:__________________________________________________

Address:__________________________________________________

Phone:__________________   Fax:______________________

Email:___________________________________

Program number: 3750JD


Stepanie -

Could you please prepare an NDA for Accenture LLP.  Tana has a draft document in her directory that has their address on it.

The NDA is for CommodityLogic and should be the same form we used for Williams and Dynegy earlier this month.

Thanks.

Mark


Hey Robert,,

Sorry I was out on vacation, and I did not think to ask Todd the name of his
headhunter, but I will and try to get back to you with some names this week.

Take care!


Please give me a call and we can discuss.  Shari is now definately moving to
power trading (not public yet) so we really need to figure out how we are
going to cover all the bases - short and long term.  I will be out the 14th
through the 17th and plan to be in S.A. the last week in March.  It would be
grea if we could both be there for the second seminar (looks like the more
pertinent to our issues) but I hate to think of Carol left all by herself
that much.  Let's see what we can figure out to make sure everything is
covered.

Sara Shackleton
03/01/2000 07:43 AM
To: Mark Taylor/HOU/ECT@ECT
cc: Kaye Ellis/HOU/ECT@ECT
Subject: Trip to Brazil

Mark:  I have been in touch with Sami Arap who is now Andrea Bertone's boss.
There are currently two seminars scheduled in Sao Paulo aimed for the
commercial group and the lawyers as follows:

1.  March 17 - Milbank Tweed  (Securitization)
2.  March 27 - Bracewell (legal issues for contracts)

I think I should attend these and was considering a trip to arrive before the
start and after the termination of the seminars (approx March 15 - March
28).  In the interim I could (hopefully) wrap up financial issues with
Tozzini and address at length physical issues with Tozzini.  Also, I can
speak with commercial groups and plan a "swap"seminar for the commercial and
legal groups (date TBD but probably after the legal seminar in San Antonio).
Please let me know if the timing works for our group in Houston and if you
have other thoughts.   Hope all is well.  Sara


Sara,

Any word on this?
---------------------- Forwarded by Laurel Adams/HOU/ECT on 09/11/2000 01:57
PM ---------------------------
From: Sara Shackleton on 09/07/2000 05:03 PM
To: Stephen H Douglas/HOU/ECT@ECT
cc: Laurel Adams/HOU/ECT@ECT
Subject: My voice mail regarding Instinet installation in London has become
URGENT.  Please call with questions.  Sara


Tana,
Please see the email below with the information.  I am interoffice mailing
you a copy of the signed amendment.

Thank you.
Julie
---------------------- Forwarded by Julie Ferrara/HOU/ECT on 03/27/2001 09:56
AM ---------------------------

	From:  Julie Ferrara                           03/21/2001 06:22 PM

To: Tana Jones/HOU/ECT@ECT
cc:
Subject: RE: Amendment to FT Energy License Agreement

Tana,
We need to add another amendment to extend the contract between EnronOnline
and FT Energy another 3 months.  The current amendment to the Dec. 13, 2000
original contract expires on March 31, 2001.  The new amendment should expire
on June 30, 2001.

The amendment should be sent to:
Michele Markey
Financial Times
3333 Walnut Street
Boulder, CO 80301-2515

Tel:  720-548-5568
Fax: 720-548-5003
mmarkey@ftenergy.com

Michele also wanted to make sure that she had a street address to send it
back to us (I suppose to your location?)

Thanks Tana.
Julie
3-4890


You have received this email because you are listed as a security approver.
Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000009797&Page=
Approval to review and act upon this request.

Request ID          : 000000000009797
Request Create Date : 12/11/00 9:39:04 AM
Requested For       : diana.andel@enron.com
Resource Name       : EOL Canada Backoffice Reports
Resource Type       : Applications


You need to stop lying to these boys, you know damn well this old guy was
with you step for step.
PL


Pete,

I'm seeing some trades with your name as Trader which are at extremely high
prices.   Transco Z6 vs. Henry Hub trades at prices of $15.6025 from Trade
Date of 12/5.  Are these errors?  EOL numbers are 658961 and 658985 (both
with Reliant).  No confirmation has been sent on these.  Please have your
Book Admin notify me as soon as you get a chance to look at these.

Thanks,
Joe Hunter


Please find attached the updated press release and Q&A documents.


Part 2

Scouting Baylor

Texas hosts Baylor at 11:30 a.m. Saturday in a game that will be televised by
the Fox Network.
The Bears (25) have really struggled this season. Their only victories are
over North Texas State, 20-7, and South Florida, 28-13.
They have been shut out in their last three games, falling to Texas Tech,
28-0; A&M, 24-0, and Nebraska, 59-0. Their other losses were to Minnesota,
34-9, and Iowa State, 31-17.
The Bears had counted on former UT QB Greg Cicero to give them a good passing
attack, but he went down with a season-ending injury and they have had one of
the least productive offenses in the country.
There are 114 teams playing Division I football and Baylor ranks 104th in
rushing, 94th in passing, 111th in total offense and 110th in scoring.
The Baylor defense is a little better, but not much.
The Longhorns should be able to name their score in this one, even if they do
show up a little flat.
Here's how the teams compare statistically (national rank in parenthesis):
Texas                                       Baylor
Offense
(88)   110.3         Rushing Avg.        (104)   85.3
(12)   290.9         Passing Avg.          (94) 159.1
(35)   401.2        Total Off. Avg.      (111) 244.4    (10)
36.3                Scoring Avg      (110)   10.6

Defense
(26)   107.7         Rushing Avg.        (107) 223.9
(19)   181.0         Passing Avg.          (48) 202.3
(14)   288.7        Total Def. Avg.      (102) 426.2
(29)     19.0    Opp. Scoring Avg          (78)   28.0

UT's Bowl Outlook

The Longhorns have to win their four remaining regular season games to have a
chance to defend their Big 12 Southern Division title, and, unless Oklahoma
loses twice, starting Saturday against Nebraska, that wouldn't get them into
the league title game.
But a 9-2 regular would guarantee them a good bowl game.
The Big 12 champion is guaranteed a spot in one of the big four BCS bowls,
and the runnerup could wind up in one of the BCS bowls, too.
The Cotton Bowl gets the second pick, the Holiday Bowl in San Diego gets
third choice and the Alamo Bowl gets the fourth pick.
By winning out, Texas would be likely to wind up in either the Holiday Bowl
or the Alamo Bowl.
If the Big 12 lands two teams in the BCS bowls, a 9-2 Texas probably would
wind up in San Diego.
If only one Big 12 lands in the BCS bowls, San Antonio is a more likely
stopping spot for the bowl season.
If the Horns don't go 9-2, they still will qualify for a bowl by beating
Baylor Saturday and they will will go bowling somewhere.

Big 12 Roundup
The big game this week is in Norman where top-ranked and unbeaten Nebraska
takes on undefeated and third-ranked Oklahoma.
Kansas State travels to Texas A&M in another big game that will trim the list
of contenders for the two division titles to four.
The Wildcats and Aggies already have one loss in conference plays and a
second would be fatal to their title hopes.

BIG 12 STANDINGS

SOUTHERN DIVISION
Conference              Season
W   L   PF    PA        Pct.      W   L    PF     PA     Pct.
Oklahoma        3    0  138     61   1.000     6    0   280     96    1.000
Texas           3    1  130     96     .750     5    2   254   133      .714
Texas A&M       3    1  106     48     .750     5    2   212     92      .714
Texas Tech  1    3    69   117     .250     5    3   170   143      .625
Okla State      0    3    43     99     .000     2    4  108    153     .333
Baylor          0    4    17   142     .000     2    5     74    196     .286

NORTHERN DIVISION
Conference        Season
W   L   PF     PA      Pct.         W    L      PF    PA
Pct.
Nebraska        4    0  206     54     1.000    7    0   324 104   1.000
Kansas State    3    1  155     98       .750    7    1   367 125     .875
Iowa State      2    2    98    122      .500    5    2   184   173      .714
Kansas          2    2    90   118       .500    4     3  172   169     .571
Missouri        1    3    77   136       .250    2     5  146    231     .286
Colorado        1    3    76   114       .250    1     6  126   176     .143

Last Week's Results
Texas 46, Missouri 12
Texas A&M 30, Iowa State 7
Kansas State 28, Texas Tech 23
Nebraska 59, Baylor 0
Kansas 23, Colorado 15

This Week's Games
Baylor at Texas, 11:30 a.m. (Fox)
Nebraska at Oklahoma, 11 a.m. (ABC)
Texas Tech at Kansas, 1 p.m.
Oklahoma State at Colorado, 1:30 p.m.
Kansas State at Texas A&M, 2:30 p.m. (ABC)
Missouri at Iowa State, 6 p.m. (Fox)

2000 Longhorn Schedule, Record (5-2)
Texas  Opp.
Sept. 9     Louisiana-Lafayette     52      10
Sept 16    at Stanford              24      27
Sept 23    Houston                  48      0
Sept 30    Oklahoma State           42      7
Oct. 7       Oklahoma (Dallas)      14      63
Oct. 14    at Colorado              28      14
Oct. 21    Missouri                 46      12
Oct. 28    Baylor
Nov. 4      at Texas Tech
Nov. 11    at Kansas
Nov. 24    Texas A&M

Scoring by Quarters
Texas         19    85    63         87 -  254
Opponents     33      51      35     14 -  133

Recruiting Roundup

The Longhorns actually went through an entire week without getting a
commitment, so they are still at 19, with a few slots left to fill.
One player who would fit one of those remaining spots very nicely ) safety
Dewayne Brandon of Temple ) was one of the recruits who came to the
Texas-Missouri game Saturday.
The only other top recruits at the game were three who already are committed
to Texas ) CB Aaron Ross of Tyler John Tyler, WR/DB Brian Carter of the The
Woodlands and DB/LB Braden Johnson of Euless Trinity.
Ross and his Tyler Lions are having a fine season. They are 5-1 overall and
2-0 in their district. Ross is playing running back and wide receiver, in
addition to the defensive backfield.
He has scored one touchdown as a receiver and three as a running back.
He said only five passes have been thrown his way all year. "I intercepted
one of them, one was completed and I knocked the other three down," he said.
The Longhorns will give five to seven more scholarships, and most of them
will be filled from a group of nine players.
They are Brandon, LB Derrick Johnson of Waco, DL Kaelen Jakes of Valencia,
Cal., and DE Jonathan Jackson and TE James Moses, both of Galena Park North
Shore; DT Tommie Harris of Killeen Ellison, Athlete Joseph Addai of Houston
Sharpstown and OLs William Winston of Houston Madison and Jami Hightower of
Jacksonville.
Super DT Paul Broussard of Blinn JC is another possibility, but he has some
academic hurdles to clear.
The Longhorns are in good shape with Brandon, Johnson, Jakes, Jackson and
Moses.
They have as good a chance as anyone with Harris, but the trouble there is
that the Killeen Ellison star has a lengthy list of schools he is
considering, and he recently added Oklahoma to the mix and says he is wide
open.
FB James Buchanon of Cardinal Mooney HS in Sarasota, Fla., is still
considering Texas, but he is a long shot.
* * * *
RECRUITING NOTES: Galena Park North Shore is 7-0 and Jackson and Moses are
having great years. Moses doesn't get a lot of passes thrown his way, but he
has very good hands, good speed and he is a tremendous blocker. Jackson, who
switched from linebacker to defensive end this year, is an outstanding pass ru
sher, due to his 4.56 40 speed and big frame. Jackson's early college
favorites give a strong indication he'll be playing in Texas or Florida. His
top five are Texas, A&M, FSU, Miami and Florida, but I'll be surprised if
both these blue-chippers don't join former teammate Cory Redding at Texas . .
. Midland Lee star Cedric Benson isn't getting as many carries as he did last
season and he's running behind an all new and undersized line, but he's still
lethal when he gets a chance. He hit Abilene Cooper for 335 yards and five
touchdowns on 36 carries Friday night in Midland in a key District 4-5A game.
He's a Longhorn commitment and he's on everybody's national top 100 list. He
won't have the great statistics he had on last year's 15-0 state title team,
but he looks even bigger and faster this year.

Top Girls Basketball Stars Visit

Coach Jody Conradt has already corraled a great recruiting class for her
Longhorn women's basketball team, but things could get even better because
she got visits last weekend from the nation's top junior and one of the
state's top three seniors.
The top junior is 6-2 guard/forward Ann Strother of Highlands Ranch,
Colorado, and the top three Texas star is Niki Newton, a 6-1 forward from
Crowley.
Strother is visiting several schools unofficially this year to decide which
schools she wants to seriously consider next year.
Contadt already has commitments from two national top 50 players )  6-2
Heather Schreiber of Windthorst and 6-2 Kala Bowers of Woodward, Okla. They
are the top prospects in their respective states.
Schreiber is rated as the nation's No. 26 prospect and Bowers is ranked No.
41 by the All Star Girls Report, a national rating service.

Horns Back in AP Rankings

The Longhorns regained the top 25 in the Associated Press rankings this week,
coming in at No. 22. They are No. 20 in the coaches' poll.
That hasn't always been good news in recent years. It seems like every time
the Horns get a good ranking, they get beat.
Is it complacency or overconfidence or just the fact they lose to a better
team? I'm not sure, but I do know that's why they haven't finished in the top
10 since 1983. They've been in the top 10 several times, but they haven't
been able to stay there.

Kick Returns Picking Up

Coach Mack Brown's announced goal of improving the kick return teams this
season is paying big dividends.
Victor Ike is No. 2 in the country in kickoff returns, averaging 30.5 yards
on 11 returns, and Hodges Mitchell is No. 25 nationally in punt returns,
averaging 12.3 yards on 25 tries.

Unbeaten List Shrinking

Only five Division 1 teams still have perfect records and the list will
shrink by at least one this weekend when No. 1 Nebraska (7-0) and No. 3
Oklahoma (6-0) meet.
The other teams with perfect records are No. 2 Virginia Tech (7-0), No. 5
Clemson (8-0) and No. 11 Texas Christian (6-0).

4 True Freshmen Will Start

Tight end Brock Edwards will start against Baylor Saturday, giving the
Longhorns four true freshmen in the starting lineup.
Edwards joins defensive end Kalen Thornton, who has started the last four
games and wide receivers Roy Williams and B. J. Johnson, who have started the
last two games.
Edwards was pressed into the starting lineup when Mike Jones, the team's
starting tight end, suffered a lick on his knee early in the Missouri game.
Coach Mack Brown said Edwards "did a good job" against Missouri.
Two other redshirt freshmen have been starting. Marcus Tubbs has been working
as the starter at defensive tackle while Shaun Rogers works his way back from
an ankle sprain, and Dakarai Pearson has won the starting free safety
position.
Rogers is getting better each week and might reclaim his starting job this
week.
Barring any late changes, the Longhorns will start two seniors (TB Hodges
Mitchell and OT Leonard Davis), four juniors (QB Major Applewhite, LT Mike
Williams, RG Antwan Kirk-Hughes and C Matt Anderson), two sophomores (LG
Derrick Dockery and FB Matt Trissel) and the three true freshmen (Williams,
Johnson and Edwards) on offense Saturday.
Defensively, they will start three seniors (tackles Rogers and Casey Hampton
and SS Greg Brown), four juniors (LBs Everick Rawls, D. D. Lewis and Everick
Rawls and CB Quentin Jammer), two sophomores (DE Cory Redding and CB Roderick
Babers), one redshirt freshman (Pearson) and one true freshman (Thornton).
Baseball Stars Commit to UT

The Longhorn baseball team got commitments from two more top recruits last
week, including a right-handed pitcher who has been clocked as high as 96 mph
with his fast ball.
The pitcher is Kole Strayhorn, 6-1, 185, of Shawnee, Oklahoma, who had offers
from many schools, but who picked Texas over Oklahoma, Oklahoma State, Cal
State-Fullerton and Baylor.
He was 8-1 last year with a 0.97 ERA. He struck out  99 in 60 innings and
said he gave up about 15 walks and about 25 hits.
He has been clocked as high as 96 mph, and he is consistent around 90. He
plays shortstop when he isn't pitching.
The only problem with Strayhorn is that pitchers who can hit 96 mph and who
have good control frequently wind up getting drafted so high that they get a
lot of money to go pro immediately.
The other recruit is shortstop Seth Johnston, 6-3, 190, of Boerne. He also is
the quarterback for Boerne's football team.
Johnson hit .507 last season and picked the Longhorns over Texas A&M and
Houston.

Simpler Is Better

Coach Mack Brown says he thinks the Horns will fare better now that the
coaches have simplified the offense.
Brown said he also thinks the two-back offense is better for Texas for
several reasons. He said having two backs behind the quarterback improves the
pass protection.
When teams rush eight defenders, he  said the five linemen, the tight end and
one running back are outnumbered. When two backs are there, he said there are
enough people to block everyone, even in a maximum blitz.
It also is a better power-running formation because of the extra blocker, he
said, adding that success in the running game causes the other team's
safeties to creep up to help stop the run, which helps the passing game.
"When you can run and pass, it creates some problems for the defense," he
said. "We plan to keep working on being able to do both."
True freshman WR B. J. Johnson went along with the simplification idea, while
having some fun with the rerporters on hand. Johnson said when he first got
to Texas and "heard the coaches talking about cover 6 . . . I didn't even
know they had six coverages.
When someone asked him if he knew all the defensive coverages now, he said,
"I don't even know all the plays, to tell you to truth. You should see our
playbook."

A True Orange Subscription Is
The Gift You Can Get Every
Year for Your Longhorn Friends
A subscription to True Orange is the perfect gift for any occasion for a
Longhorn who has everything else. It's only $45  ($35 by e-mail) and I'll
send  an attractive card announcing your thoughtful gift.
The only thing better is  a gift of  True Orange and the True Orange Fax  )
and you can give both for just $130 a year ($99 if they take both by e-mail).

o  I am enclosing $45 for a gift subscription ($35 e-mail)
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Your Name

Any Message You Want on Card

Next Issue October 30

The next issue will be e-mailed on October 30 and will report on Baylor game,
preview the big road  game the following week against Texas Tech and take a
look at the Big 12 championship races.
As always, I'll have a lot of recruiting news, reports on men's and women's
basketball and lots of other stories on the Longhorns' teams in the various
sports.

Tell Your Friends About True Orange

If you like True Orange, be sure and tell your Longhorn friends about it. I
can always use more subscribers. The more subscribers I have, the more
resources I have to call recruits and coaches and do all the other things
that give you an inside view of Longhorn sports.

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Treasa:  Bob Bruce told me that there was no "swap" activity on the prepay
during my absence.
Houston is closed down until Monday, Nov. 27 for the Thanksgiving holiday.
Normally, I would ask Joe Hunter on the confirm desk to take a look at the
confirms.  I marked up the TD confirm to reflect my comments and provide an
attached "schedule" of volumes since I thought it would be easier for you to
match calc periods, volumes and rate payment dates.  Such a format has worked
well in other prepaid structures.

If I don't go out of town tomorrow,  you can  reach me at home. My number is
(713) 664-3207.