----- Forwarded by Donna Fulton/Corp/Enron on 05/25/2001 05:36 PM -----

	Nancy Bagot
	05/25/2001 05:11 PM

		 To: Shelley Corman/Enron@EnronXGate, Mary Kay Miller/ET&S/Enron@ENRON, Drew
Fossum/Enron@EnronXGate, Robert Kilmer/Enron@EnronXGate, Janet
Butler/Enron@EnronXGate, Dari Dornan/ET&S/Enron@ENRON, Glen
Hass/ET&S/Enron@ENRON, Bambi Heckerman/Enron@EnronXGate, Frazier
King/Enron@EnronXGate, Teb Lokey/Enron@EnronXGate, Dorothy
McCoppin/Enron@EnronXGate, Ray Neppl/Enron@EnronXGate, Maria
Pavlou/Enron@EnronXGate, Janet Place/Enron@EnronXGate, Michele
Winckowski/Enron@EnronXGate, Donna Fulton/Corp/Enron@ENRON, Linda
Robertson/NA/Enron@ENRON, Tom Briggs/NA/Enron@Enron, John
Shelk/NA/Enron@Enron, Carin Nersesian/NA/Enron@Enron, Steven
Harris/ET&S/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON
		 cc:
		 Subject: Briefing on FERC CA Natural Gas Infrastructure conference

This memo by Nancy Bagot, ETS, and Donna Fulton, Enron Corp, summarizes what
we heard at yesterday's FERC conference and gets to the heart of the issue in
California on the gas side.

The FERC Technical Conference yesterday was held by FERC staff and was kept
to very technical, facility and service issues.  Staff did not allow any
discussion of pricing, because that would be handled in other forums.
Commissioners did not make an appearance at the conference, though some of
their staffers were in attendance.

Like many FERC Technical Conferences, the May 24th conference on California
Natural Gas Transportation Infrastructure boiled down to parties blaming
other parties for the situation in the California market.  Generally, (1)
interstate pipelines and others believe more infrastructure is needed, both
to California and within California   (and some blame SoCalGas, lack of
adequate take-away capacity, failure to provide open access transmission, and
allocation procedures), (2) SoCalGas blames the CPUC and believes that,
although this is a tight year, service commitments will be met and things are
fine, and (3) the CPUC and CEC believe things are not out of control going
forward, that their own open proceedings are adequate to handle any gas
issues in California, and  that CPUC &decisions are coming.8

For FERC Staff, there are two issues at hand: is the problem the mismatch
between interstate and intrastate capacity (and what amount of infrastructure
should be added into and within California), and/or is it the allocation
methodology at a few highly-constrained delivery points into the state.
Overall, there is basic agreement that there are problems with both.

The State

Both the CPUC and the CEC described the intrastate pipeline system as
adequate with just minor changes and enhancements, certainly to serve core
customers and likely to serve non-core customers.  Like the LDCs, the state
representatives are concerned that building to develop a cushion in a
difficult year may not bode well for facilities in &normal8 years in the
future, leaving intrastate capacity stranded.  Also, both agencies ticked off
a laundry list of proposed LDC enhancement projects and regulatory changes
that are designed to improve the delivery system.  According to the CPUC and
CEC, demand in the state is not going to explode ) getting LDC storage back
up to normal levels should make the difference.

FERC Staff questioned  the CPUC and CEC speakers at length on the operations
of the state LDC systems, allocation methods, and the availability of firm
capacity on SoCalGas in particular.  There was great concern among Staff
about the inability for a non-core customer to contract for specific capacity
for primary firm service on SoCal.  The CPUC noted that there is a
comprehensive settlement before the Commission to unbundle SoCal capacity and
allow for tradable primary capacity on an open access system, but the
Commission has not yet acted on that settlement.  When asked why the CPUC has
not acted on the settlement that has been pending for a year, the witness
said that there were not three votes.

The LDCs

Only PG&E and SoCalGas appeared before FERC.  Both were adamant that there
was adequate capacity for current demand, as proven by the lack of
curtailments over the past year.  They also agree that a primary question is
how to agree on the adequate amount of capacity ) though it,s generally held
there should be a 15-20% excess, is that for a normal weather year or a dry
hydro year?

For SoCal in particular, Lad Lorenz claimed that demand would drop in the
next five years, with normal weather and a reduction of EG load which would
bypass their system (being built directly along interstates pipelines).  If
capacity were built to match an excess reserve margin, he wanted to know who
would pay for the capacity.  The central policy question for SoCal comes down
to defining excess capacity and modeling for excess based either on matching
interstate capacity or customer demand (based on contracts).  SoCal believes
it should respond to the latter.  However, the LDC cites the CPUC as an
obstacle for responding to customers, and is looking to the CPUC to accept
its comprehensive settlement which will unbundle its capacity and allow for
tradable primary capacity rights.

For PG&E, the situation is different because it functions very much like an
open access interstate pipeline. It does not have the allocation and
scheduling issues that are on the SoCal system; however, there is still a
mismatch between interstate and intrastate capacity.  PG&E, like SoCal,
claims that its system is adequate to meet current demand, though they are
planning some enhancements. They do agree with SoCal on the difficulty in
planning for uncertainty, but in general the northern California LDC is not
facing the difficulties of its southern counterpart.

Staff questions underscore the more difficult situation on the SoCal system,
as nearly all questions focused on SoCal,s allocation method, firm capacity
availability for non-core customers (which include industrials and electric
generation) and possible disconnects between its local and backbone systems.
FERC also queried about interstate and intrastate mismatches at Topock and
Wheeler Ridge, and whether these would be worsened with the addition of more
interstate capacity.  SoCal consistently answered that its proposed
comprehensive settlement on unbundling would resolve most issues, but the
CPUC will not act on it.

Interstate Pipelines

With every interstate pipeline serving California planning expansions and
four entirely new pipelines on the drafting table, the pipelines call to arms
was for more capacity into the state.  Demand projections by the pipeline
representatives were vast and optimistic, an example being the Sonoran
Pipeline prediction of a 3 ) 4 Bcf shortfall.  And each pipe can point to
booming open season results as proof of the need for more infrastructure.
Posing an obstacle to this infrastructure development is SoCalGas, lack of
capacity and the major problem of allocation ) SoCal currently can only offer
secondary capacity to any new interstate capacity.

FERC Staff agreed that the SoCal allocation is a problem and further proof
that there is a mismatch between intra and interstate capacity.  SoCal
responded that any new interstate capacity at certain desirable points will
only degrade existing service and again blamed the CPUC and the pipes,
allocations.  The other concern expressed by Staff is the divergent demand
forecasts of the LDCs, CPUC & CEC, and the pipelines.

Others

The financial community (Credit Suisse and Merrill Lynch) pointed to a
dysfunctional market in California and told FERC that pipelines must be given
certainty on returns and the regulatory structure.  The message was for FERC
to stay the course, without price caps or changes to the marketing affiliate
rules, and for California to fix itself, especially the CPUC (the weakest
link).

Producers and End Users are concerned that existing shippers, rights are
protected and rates remain unaffected by expansions that may later be
stranded.  There is concern over additional capacity into constrained
delivery points that are already pro rationed, especially in light of the
recent nomination gaming debacle at Wheeler Ridge.

The California Generators claimed that they were not convinced that SoCal
will be unloaded by bypassing EG.  They claimed that there are disincentives
in California regulation to SoCal's building capacity - specifically the
Performance-based Rate mechanism and the Gas Cost Incentive mechanism.  Under
these programs, SoCal gets to keep 50% of peaking service revenues, thus
giving SoCal incentive to advantage their own storage services.  SoCal gets
to keep tens of millions annually under these mechanisms.

Closing Staff Concerns

To wrap up, FERC Staff asked why it is Topock in particular that is always
discussed, and it was explained that access to multiple pipelines at Topock
has set it up as the preferred delivery point into California.  However, with
allocation changes at Topock kicking in, the problems are moving to Wheeler
Ridge.

There was also a debate over which is the real problem ) intrastate capacity
or intrastate scheduling.  SoCal again emphasized that it is not a capacity
issue but the mechanism (blame the CPUC for not approving the unbundling
settlement), California Generators believe it,s all about capacity (blame
SoCalGas).

Future Comments

Comments can be filed in this proceeding by June 25.  Since the SoCal
settlement received so much attention and continues to await action by the
CPUC, should we get supporters of that settlment to file with the FERC
stating that this was a fix to some of the problems on SoCal's  system and
the CPUC has sat on it?

We should find out who is planning to file comments.  Though much was said at
the technical conference, many speakers brought slides, and there was a Court
Reporter, Commissioners and their staffers will not likely read the whole
transcript.  We could file to emphasize the points that are made in
Jennifer's gas talking points.

Future Comments

Comments can be filed in this proceeding by June 25.  Since the SoCal
settlement received so much attention and continues to await action by the
CPUC, should we get supporters of that settlment to file with the FERC
stating that this was a fix to some of the problems on SoCal's  system and
the CPUC has sat on it?

We should find out who is planning to file comments.  Though much was said at
the technical conference, many speakers brought slides, and there was a Court
Reporter, Commissioners and their staffers will not likely read the whole
transcript.  We could file to emphasize the points that are made in
Jennifer's gas talking points.


Have you seen the latest edition of Enron Net Works News?   Join us in
congratulating our Programmer Plus Class One Graduates and find out how to
ensure that your laptop is "Ready2Go" for your next business trip.  All
this and more at http://enn.enron.com .

NOTE:  In the event that you are unable to execute the above link, please
copy the link to the address line of your installed browser.


CALENDAR ENTRY:	APPOINTMENT

Description:
	Order 637  Issues Update mtg - 4102

Date:		8/22/2000
Time:		10:30 AM - 12:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/24/2000
08:42 AM ---------------------------

"FT.com" <ft.com.special@newsbyemail.ft.com> on 07/20/2000 10:57:16 AM
To: "FT.com User":;
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: A trip worth $10,000 could be yours

Dear FT.com user

From the web site that brings you the world - the chance to go anywhere in the
world.

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with
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Great additional prizes such as Sony Digital Cameras, Philips DVD players and
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list.

If you have forgotten your password for FT.com visit:
http://registration.ft.com/registration/passwordLookup.jsp


---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/11/2000
04:24 PM ---------------------------

James Saunders
12/08/2000 07:02 PM
To: Rod Hayslett/FGT/Enron@ENRON
cc: Bob Chandler/ET&S/Enron@ENRON, John Cobb/FGT/Enron@ENRON, Patricia
Wiederholt/NPNG/Enron@ENRON

Subject: Preliminary 2001 Objectives

Rod - below is a prliminary list of 2001 objective ideas.

SAP
a. Participate in Enron's Project Sunrise to improve utiliation of SAP, SAP
"bolt ons" and SAP/accounting related processes.
b. Enhance ETS SAP user groups to remedy post implemetation "bugs" and
improve user understanding and utilization
of the system.

AUDITS AND CONTROLS
a. Implement an ETS approval authorization policy (and ensure compliance),
incorporating all possible ETS transaction
commitments
b. Implement improved ETS project controls (beyond workorder authorizations)
c. Establish improved financial risk management procedures (interrelated to
a. above)
d. Utilize internal audit resources to provide process improvement ideas
(versus traditional audit findings) and drive process changes.
e. Achieve no material financial effects from external audit negotiations

FINANCE
a. Refinance TW note with Enron
b. Issue 144A or equivalent to meet FGT cash requirements in 2001.

REPORTING
a. Meet year end external reporting requirements and deadlines, complicated
the mid 2000 MSA/SAP conversion.

ACCOUNTING
a. Implement FAS133 with no adverse effect to income.

BUSINESS SUPPORT
a. Provide innovative accounting solutions in support of:
a1. pipeline regulatory initiatives
a2. pipeline expansions
a3. pipeline and ETS new business/deal initiatives (including divestments)
a4. unique business projects, ie. TW Navajo ROW settlement negotiations, NNG
South End opportunities
b. Develop improved upfront accounting linkage on pending ETS business
transactions

ORGANIZATION
a. Implement and document process and reporting improvements; realizing the
benefits of the 2000 ETS accounting functional realignment. (There are
opportunities in financial accounting, property accounting, reporting,
reconciliations/ controls, and staff development)

b. Implement an ETS acounting analyst program

Patricia Wiederholt
12/05/2000 10:47 AM
To: Jerry Peters/NPNG/Enron@ENRON, James Saunders/FGT/Enron@ENRON
cc:

Subject: 2001 Goals & Objectives

My input for items I believe need to be accomplished in the year 2001:

 Improve timing of accounting close to 5th workday
 Complete refund for NBPL rate case
 Develop manageable allocation methodology for new organization structures
 Implement financial forecasting model for NBPL SFV tariff
 Establish additional Audit Committee member for NBP by June 2001 to meet new
audit committee requirements

These are in addition to our "standard" objectives for reporting deadlines,
financial targets, etc.

	From:  Bob Chandler                           12/05/2000 01:05 PM

To: James Saunders/FGT/Enron@Enron
cc:

Subject: 2001 Goals & Objectives

Here's a laundry list of various potential 2001 Goals/Objectives per Rod's
request below:

Implementation of FAS 133
Possible 3rd party refinancing of $150MM TW note to Enron Corp.
Implementation of Datamarts to replace DSS.
Implementation of Risk Management System (Lee Ferrell - Commercial)
Filing of Forms 2 using 6 mos. MSA and 6 Mos. SAP.
Completion of year 2000 audited financials using 6 Mos. MSA and 6 Mos. SAP
Progress toward resolution of TW ROW renewal issue.
Completion of NNG depreciation study in support of south end strategy
Establishment of SLA recovery mechanism through Order 637 settlement
discussions.
Implementation and fine-tuning of new ETS Finance organization.

------------------------------------------------------------------------------
------------------------------------------------------------------------------
--------------------------
John Cobb
2001 Goals & Objectives Consideration
December 8, 2000

1. Develop and implement a Citrus Board capital report for Phase V and VI
similar
to the current Phase IV reports and support the expansion construction team
in the   monitoring and reporting of costs, etc.

2. During the First Quarter, 2001 identify any Year End / FERC Form 2
reporting issues and implement solutions to meet reporting deadlines and as
necessary improve on any interim solutions prior to year end, 2001.

3. During the First Quarter, 2001 confirm the accuracy and FERC compliance of
the Composite Depreciation and AFUDC calculations.

4. Manage the quarterly CTC contract valuations (FAS 133/138) so as to
minimize any adverse earnings impact.

5. Support the implementation of an ETS Accounting &Analyst8 Program

6. Identify and implement at least one (per department) &best practice8
procedural improvement as a result of the new functional organization with
identified cost savings, efficiencies and/or revenue enhancements.

7. During the First Quarter, 2001 review the &Assessments8 (Fixed
Distribution) in conjunction with the new organization and initiate changes
as appropriate.


Attached is the guaranty with my comments.  Let me know if you have any questions.


one more try.....
---------------------- Forwarded by Mark Taylor/HOU/ECT on 03/13/2000 02:13
PM ---------------------------

	From:  Mark Taylor                           03/13/2000 02:13 PM

To: mcook@svdp.edu
cc:
Subject: Hi!

Hmmm. - Barbara wasn't 100% sure of your e-mail address.......
---------------------- Forwarded by Mark Taylor/HOU/ECT on 03/13/2000 02:12
PM ---------------------------

	From:  Mark Taylor                           03/13/2000 02:09 PM

To: mcook@svdp.edu.org
cc:
Subject: Hi!

Hi Mary.  Barbara tells me there's a better-than-good chance you will be
coming back to join the department.  Hooray!  I was hoping we could chat
about how you would feel about joining the financial trading group this time
around.  I'm leaving for the airport in just a bit to head out of town for
the rest of the week but would be happy to talk when I get back and you
should feel free to talk to Carol and Sara in the meantime.

Mark T.


Angela

Please reschedule my lunch with Dan Fornier at Blakes for next week.


Chonawee,

This was perfectly all right. As a matter of fact I expect and encourage
the members of the group to disagree with me (or anybody else)
on any subject. I am never offended by it and take it as a manifestation
of ability to think independently and having the courage of one' s
convictions.

Nobody has the monopoly on truth and nobody knows everything. The only
way we can learn and avoid costly errors (to ourselves and the
company) is by having open communication.  In Enron,
facts are friendly.

By the way, it was an excellent presentation.

Vince

Chonawee Supatgiat@ENRON
01/04/2001 03:10 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Sorry.

Hi Vince, I am sorry for correcting on the revenue of the different auctions.
Vickrey 1961 showed that all 4 kinds of auctions would yield the same
expected revenue to the auctioneer. (Dutch, English, first price-sealed bid,
and second-price sealed bid.) In fact, the selling price is equal to the
valuation of the second highest bidder. For example, in Vickrey auction,
everyone bids at his own valuation. Hence, the winner pays the valuation of
the second highest bidder. In English auction, the second highest valuation
bidder will stop competing if the price is above his valuation. Hence, the
winner also gets the item at the price of the second highest valuation bidder.
Thank you for attending the meeting and giving many helpful contributions.
-chonawee


OOPS!!

Try that

 -----Original Message-----
From:  Mann, Kay
Sent: Thursday, May 24, 2001 10:22 AM
To: Krause, Greg
Subject: Re: Negotiation for the Midway Project / FPL Interconnect Agreement

Hi Greg,

The agreement isn't  attached.  (I do that ALL the time.)

ckm


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Ben,

I will try to be on at least part of the phone call on Thursday, technology
permitting.

Kay


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/30/2000
05:16 PM ---------------------------

Vince J Kaminski
03/30/2000 05:15 PM
To: george_wayne@fpl.com
cc:
Subject: Test

Test

Vince


773622
773761 - ST CA sells 25 MW on peak (Fri and Sat) @ SP, $ 27.61

Kysa M. Alport
Enron North America
(O) 503-464-7486
(C) 503-706-5308


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude83.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas83.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil83.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded83.pdf

Feb. WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clg-qog.pdf
Feb Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Feb Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Feb Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hug-hog.pdf
June Gas/Heat Spread
http://www.carrfut.com/research/Energy1/HUM-HOM.pdf
March Gas/Heat Spread
http://www.carrfut.com/research/Energy1/HUH-HOH.pdf
Feb/May Unlead Spread
http://www.carrfut.com/research/Energy1/HUG-HUK.pdf
Feb/July Crude oil Spread
http://www.carrfut.com/research/Energy1/CLG-CLN.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG83.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG83.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL83.pdf


i talked to fred today.  i think he's in so lets assume it's a go.   when is
the last day to cancel and get our money back?

Ina Rangel
04/04/2001 11:14 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Miami

John,

It looks like Fred is not going to do the Miami trip after all.  Do you still
want me to book it for the Financial group?  If not, I will cancel the
reservations that are on hold.

-Ina


Misti:
I assume you are responsible for publishing the management reports.  I cannot access these reports past May 11.  Have they been published since then and if so, any idea why I can't get them?


TASK ASSIGNMENT

Task Priority:		1
Task Due On:
Task Start Date:

User-defined functions;
DATA/SORT/AUTO FILTER
Graphs - load


Errol,   This is what I spoke to you about on the phone...

In order to prepare for the new Broker-Client application that EOL will be
supporting, we need to clean up the EOL deals in tagg.  We have found alot of
deals in tagg that have EOL in the broker field, but no EOL deal number.
Most of these are due to second legs being added manually after the EOL
transaction, or the EOL deal number being deleted from the tagg leg.  We are
asking risk to go thru these deals and add the EOL deal number to the legs
that do not have the deal number listed.

For example, if the deal is two (+) legs and only one leg has the EOL number
on it and clearly the other legs are associated with the one EOL transaction,
manually enter the EOL deal number into the remaining legs.

Attached is the list of deals.  I spot checked several of these and pretty
much found the common trend of one leg has just EOL in the broker field and
the second leg has EOL in the broker field and an EOL deal number.  I have
seperated the list into different tabs by counterparty name.

Please let me know if you have any questions.

Thanks,
Dawn
3-9353


First, congrats on buying a great house for free.  Need to put up a fence in the back because Bob is a pain and somehow convinced me to take done the fence.  We never did figure out the combo for the back door.

john
 -----Original Message-----
From: 	"GLENNA ROSS" <glenna.ross@blakes.com>@ENRON [mailto:IMCEANOTES-+22GLENNA+20ROSS+22+20+3Cglenna+2Eross+40blakes+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, April 30, 2001 4:35 PM
To:	lavorato@enron.com
Subject:	New House

John, we are in the middle of moving into our new home.  I think we will be very very happy there and would like to thank you for introducing us to the house last year.

One quick question.  Do you happen to remember the combination for the back door?

Regards,

Mungo


Jae-Moo

On the section of Regulatory/Legal Environment, it may be useful to note:

1. There is no official rule or regulation that ex post facto reporting for
Commodity Derivatives are acceptable to the Bank of Korea, although your and
Korean external lawyer's (Kim & Chang) informal verbal enquiries with the
Bank of Korea have suggested they have accepted some  7 or 8 reports since
April last year (all from Hyundai Oil).

2. The Bank of Korea take up to two weeks to review the reports and, as Kim &
Chang has advised, there remains a possibility that the Bank of Korea may
reject the report, although they were not able to advise the grounds on which
a report may be rejected.

3. Although, a foreign counterparty need not file a report or seek approval,
the Korean counterparty must still do so for the benefit and interest of the
foreign counterparty. Kim & Chang advised that where reporting or approval is
required but is not made or obtained, the Korean counterparty would not be
able to remit its payments under the transaction. This would clearly impact
on the settlement of the transaction, in particular shorter term deals since
reporting and approval may take several weeks.

4. The Supreme Court of Korea has ruled that a foreign exchange authorization
that was originally required should be obtained in order for a foreign party
to execute any judgment against the Korean party and remit the proceeds.

Regards
Matt

Jae-Moo Lee@ENRON
08/24/2000 04:58 PM
To: Christopher B Hunt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joseph P
Hirl/AP/ENRON@ENRON, David Forster/Corp/Enron@Enron, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike
Dahlke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan Aronowitz/HOU/ECT@ECT,
Mike Brown/ENRON@Gateway, Justin Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raymond
Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Viverito/Corp/Enron@Enron,
Rousseau Anai/AP/Enron@Enron, John Chismar/SIN/ECT@ECT, Victor
Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Li Yin Lim/SIN/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jonathan Whitehead/AP/Enron@Enron
cc: Michelle Lee/Corp/Enron@Enron, Ann
Brown/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: EOL Korea

As many of you are aware, over the past few months we have been investigating
whether or not it would make sense to seriously consider an EOL launch in
Korea from a market, regulatory and legal perspective.  The primary interest
has been on reviewing whether or not we could launch existing products in
Korea (e.g., products already handled by Singapore EOL) as well as new
products (e.g., Seoul weather).

This initial work was directed primarily by the Korea team working within the
APACHI group.  If a launch is to progress much further from this point,
however, substantial attention by the EOL team would be required.  To
facilitate this, the attached presentation summarizes our primary findings to
date and some of our thoughts.  We would appreciate your taking a look at the
attached document.

We would like to arrange a conference call for next Thursday (Aug. 31st) at
6:00 pm by Houston time (Friday at 8:00 am by Tokyo time) to discuss the
attached document and to solicit thoughts as to next steps.  Please let me
know whether you will be able to join this call or, if you have a conflict,
an alternative time.  Your participation will be greatly appreciated.

Best regards,

Jae-Moo


Suzanne:
Could you please go into the following Shari Stack files and print out all of
the docs that are in these files?

WSPP Agt.
Municipality Info

Thanks.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


-----Original Message-----
From: Collins, Joan
Sent: Wednesday, October 24, 2001 9:46 AM
To: Schwieger, Jim
Subject: FW: Texas Monthly November 2001: How Enron Blew It

I don't know if you've read this one.  It kind of made me sick, to be honest!!!!!
-----Original Message-----
From: Buehler, Craig
Sent: Wednesday, October 24, 2001 8:53 AM
To: Collins, Joan
Subject: Texas Monthly November 2001: How Enron Blew It

  <http://ste.clickability.com/ste.gif?151|5180|4170|989|989|989|2577025|N|2|>
  <http://images.clickability.com/eti/spacer.gif>	  <http://images.clickability.com/eti/spacer.gif>
 	 Texas Monthly <http://www.texasmonthly.com>	   <http://images.clickability.com/logos/cc0000/emailthis-logo.gif>

  <http://images.clickability.com/eti/spacer.gif>

 	 You have received the following link from craig.buehler@enron.com:

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 	 Click the following to access the sent link:

 	   <http://images.clickability.com/partners/989/etIcon.gif>Texas Monthly November 2001: How Enron Blew It <http://texasmonthly.emailthis.clickability.com/et/emailThis?clickMap=viewThis&etMailToID=1882864300>

 	 SAVE THIS link <http://texasmonthly.savethis.clickability.com/st/saveThisPopupApp?clickMap=saveFromET&partnerID=989&etMailToID=1882864300>	 FORWARD THIS link <http://texasmonthly.emailthis.clickability.com/et/emailThis?clickMap=forward&etMailToID=1882864300&partnerID=989>

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Get your EMAIL THIS Browser Button and use it to email information from any Web site.	  <http://texasmonthly.emailthis.clickability.com/et/emailThis?clickMap=browserButtons>

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Ben and Thomas,
Here is a first pass on the turbines.  Still waiting on info for the ABB
turbines from Canada.  This still needs to be reviewed by Ben Jacoby.


Enclosed please find the Spring, 2002 final exam schedule.  I have
allocated time, dates, and space for the core courses.  If you need to
schedule a final for your elective course, please contact Linda Werckle
(werckle@rice.edu or 348-3463).  Remember, space goes quickly during the
exam period so if you have specific needs, please contact Linda as soon as
possible.

Thank you! - Pam (713-348-6223)
 - 2002 spring exam schedule.doc


WHAT??????????

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:27 AM
To:	Nelson, Michelle
Subject:	RE:

please do, it will save sarah the trouble of hiring someone

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:27 AM
To:	Maggi, Mike
Subject:	RE:

you always confuse me with everything.  i think that you do that on purpose.  i'm going to kill you!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:26 AM
To:	Nelson, Michelle
Subject:	RE:

your getting confused again

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:25 AM
To:	Maggi, Mike
Subject:	RE:

i hate you!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:24 AM
To:	Nelson, Michelle
Subject:	RE:

anytime

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:24 AM
To:	Maggi, Mike
Subject:	RE:

well thanks for your help charlie brown

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 26, 2001 10:24 AM
To:	Nelson, Michelle
Subject:	RE:

nope and nope

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 26, 2001 10:20 AM
To:	Maggi, Mike
Subject:

did you go work out this morning?

do you know an orthodontist in houston?


Just wanted to let you know that the Richardson deal has been entered into
TAGG.  The deal number is NE2760.


Aren't you something.  From now on, you are Mr. PSA.
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/07/2001 02:42
PM ---------------------------

Scott Churbock
03/07/2001 02:42 PM
To: Carlos Sole/NA/Enron@Enron
cc: Kay Mann/Corp/Enron@Enron

Subject: Re: Trinity Consulting Agreement

Carlos,
Thanks for the prompt and diligent effort---good work!  I will forward this
to Trininty and we'll go from there.
Scott

From: Carlos Sole on 03/07/2001 12:36 PM
To: Scott Churbock/NA/Enron@ENRON
cc:

Subject: Trinity Consulting Agreement

Scott, for your review and comment, attached is a revised version of the
Trinity Consulting Agreement that I have modified so that it more closely
resembles our standard form of consulting agreement.  Also, please note that
our accounting group has also blessed this agreement.

As a summary, the substantive changes that I made are as follows:

- Article 1 now more specifically describes the standards by which Trinity
will perform its services (these changes should be a non-issue)

- Article 3 now imposes certain conflict of interest obligations on Trinity.
3.1 obligates them to represent and warrant that their entry into an
agreement with us will not breach any other obligations that would otherwise
have to other parties.  3.3 imposes the obligation on them to obtain our
prior consent before they perform any work for any third party or government
agency that would have "an adverse effect" on us (this is direct change from
their form which had no such obligation but which is standard in our
consulting agreements and is a reasonable request.)

- Article 4 adds our standard language that Contractor is an independent
contractor and not entitled to any of our employment benefits.

- Article 5, inserted a 2 year term.

- Article 6 inserted that payments are within 30 days and that reimbursements
must be in advance.  Please note that since I cannot edit the Price Schedule,
then conforming changes to it need to be made, including whether to strike
the 18% interest charge for late payments and whether to accept the 15%
out-of-pocket surcharge (neither of which is in our standard agreement).  I
also inserted your name for invoices.

- Article 7 added a termination event that the breach of the conflict of
interest or confidentiality obligations is an immediate event of termination.

- Article 8, inserted your name for notices with a copy to me in the legal
department.

- Article 9, I revised the liability limitation to make it reciprocal and
excluded from the liability limitation, damages that would arise from
Trinity's breaches of Section 3.1 (that entering into this agreement will not
breach any other agreements that they have), Article 10 (indemnification for
personal injury or death claims attributable to them), Section 12.2 (not
providing us with information that violates someone else's intellectual
property rights) and Section 13 (non-disclosure / confidentiality
obligations).  Note that although accepting a liability limitation is not
standard per our agreements, by making the foregoing exceptions, the
liability limitation that we are effectively agreeing to is only with respect
to any "malpractice" claims that we would have against them if their work was
not up to industry standards.

- Article 10, this is an indemnification provision which obligates them to
indemnify us for personal injury or death claims attributable to them.

- Article 11, states that the ownership of work product developed will be
ours and that they will not provide us with any information etc. that they do
not have the intellectual property rights ownership of.

- Section 13.4 are certain procedures to be observed in the event that a
court requires the production of confidential information (the text is
standard boilerplate.)

- Article 14 states that they have all liceneses to perform the work and to
the extent that any are needed they will obtain them at their own cost and
expense.

- Article 15 is our standard boilerplate.

- Formerly Article 12 on Non-Solicitation of Employees - per our discussion
this has been struck

- Section 17.1 now imposes venue in Harris County, Texas not Dallas County.

- Section 17.2 allows us to assign the agreement to any of our affiliates
without their consent but subject to notifying them of the assignment

- Section 17.8 requires our consent before they use Enron's name in any
advertising

- Exhibit A terms and conditions have all been struck since those duplicated
what was in the Master Agreement.

Please call me with any questions that you may have or let me know how I can
be of further assistance.

Clean Copy

Blackline Comparison


EX0696.1
N34809.1
N34810.1
N34809.2
N86915.2
NB4301.1
ND8137.1
NE0392.1
NG5943.2
NG5945.2
NH4631.1
NI1685.1
NI8080.1
Ni8037.2
NJ7458.3
NJ7458.4
N69139.1
NH8907.1
NO6546.1
NO6546.2


I show 17.00


Pls send pictures......


Here are the current issues related to VAR and Credit models:

1. Factor loadings (FL) for all "primary" commodities:
- the code is tested;
- factors loadings have been calculated for every primary curve and examined
closely by Research;
- using different number of maturities for FL calculations (IT);
- selecting "good" curves, setting mappings for the others (RAC);

2. Reviewing Power VAR model:
- implementing term structure of correlations (preliminary research is in
progress by Research, to be implemented by IT);
- implementing caps in VAR model (IT);
- jumps for intramonth prices (re-examine prices behavior, Research);

3. Historical FF vols (Research, RAC);

4. Interest rate and FX:
- preliminary research is completed (Research);
- implementation in RiskTrack (IT);

5. Credit model:
- resolving the problem of identical runs giving different results (IT with
Research's help);

6. MG metals VAR model:
- merging with RiskTrack (RAC, IT, Research);
- refining the model (Research);

7. VAR calculations for UK curves:
- merging with RiskTrack, elimination spreadsheets (RAC, IT, Research);
- looking closely at VAR calculations for each commodity;

8. Merchant portfolio VAR:
- unification with Equity VAR model;

9. Fat tails modeling (Research);

Let me know what I missed.

Thank you,

Tanya.


---------------------- Forwarded by George Weissman/HOU/ECT on 01/25/2001
10:05 AM ---------------------------

Linda Roberts@ENRON
01/19/2001 05:28 PM
To: George Weissman/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Gary
Bryant/ENRON@enronxgate, Melissa Graves/HOU/ECT@ECT, John
Grass/Corp/Enron@ENRON
cc:
Subject: KCS VPP

---------------------- Forwarded by Linda Roberts/NA/Enron on 01/19/2001
05:21 PM ---------------------------
From: Joan Quick@ECT on 01/19/2001 04:45 PM
To: Brian Otis/NA/Enron@Enron, Larry Lewis/HOU/ECT@ECT, Phillip
Ballard/NA/Enron@Enron, Ryan Synnott/HOU/ECT@ECT, Avinash
Jain/NA/Enron@Enron, Teresa G Bushman/HOU/ECT@ECT, Scott
Josey/Corp/Enron@ENRON, Bob Devine/NA/Enron@Enron, C John
Thompson/Corp/Enron@ENRON, Arvel Martin/HOU/ECT@ECT, Merrill W
Haas/HOU/ECT@ECT, Bradford Larson/HOU/ECT@ECT, Tricia Spence/HOU/ECT@ECT,
Marshall Eubank/HOU/ECT@ECT, Don Schroeder/HOU/ECT@ECT, Linda
Roberts/NA/Enron@Enron, Gary Bryan/HOU/ECT@ECT
cc:

Subject: KCS VPP

Per Schroeder, a good number to use for crude basis is the $3.00.  H is
meeting with Tom [mid con properties] on Tues, and Sam [GC properties] on Wed.

Regarding BTU factors on the gas spreadsheet for the midcon area, these
factors are all wellhead.  Randy will be providing the tailgate factors to me.

Regarding missing marketing info: MELP has been deleted from the deal and
South Drew is a PUD, not yet drilled.

---------------------- Forwarded by Joan Quick/HOU/ECT on 01/19/2001 04:38 PM
---------------------------
From: Joan Quick on 01/19/2001 03:27 AM
To: Brian Otis/NA/Enron@Enron, Larry Lewis/HOU/ECT@ECT, Phillip
Ballard/NA/Enron@Enron, Ryan Synnott/HOU/ECT@ECT, Avinash
Jain/NA/Enron@Enron, Teresa G Bushman/HOU/ECT@ECT, Scott
Josey/Corp/Enron@ENRON, Bob Devine/NA/Enron@Enron, C John
Thompson/Corp/Enron@ENRON, Arvel Martin/HOU/ECT@ECT, Merrill W
Haas/HOU/ECT@ECT, Bradford Larson/HOU/ECT@ECT, Tricia Spence/HOU/ECT@ECT,
Marshall Eubank/HOU/ECT@ECT, Don Schroeder/HOU/ECT@ECT
cc:
Subject: KCS VPP

GAS
The below spreadsheet has all my info re the gas marketing [still not
"pretty"] for all the fields except MEPLP & South Drew.  I have an email to
Harry to find out whom I am to talk to about these 2 fields.

So far, there are 39 delivery points in the mid continent/Michigan area, 25
delivery points in the gulf coast area [including the 7 VPP points], approx
20 points go thru plants, 24 go thru gathering lines.  There is a lot going
on here.  I know we have not discussed what we might want to take physically
[and I have not discussed this with anyone on the trading or wellhead desks],
but my gut feel and recommendation is to take all the crude physically, and
re gas, take the bigger receipt points that flow directly to a mainline
connection, and the VPP vols.

I have updated the basis numbers, updated all the gathering fees, fuel ...
and using vols that I have been given by KCS, the weighted average basis
number is around $0.25 [$0.2443, go figure].  I still need MI basis numbers,
but these s/b positive to NYMEX, which should bring the wtd average down.  I
think everyone knows this, but keep in mind, I have not read any of the
contracts, all information is hearsay, all numbers are assuming that the
current prices and fees are to remain constant for the next 5 yrs, but for
now, this the best we have, especially since I was given this information
less than 48 hrs ago - the information received originally from the Houston
office was incorrect.

In my email yesterday, I wrote that there are several delivery points where
the pricing is POP.  My initial thinking and concern with this, was that if
KCS had, let's say, an 80/80 deal, and the marketer sold the gas and the
NGL's for whatever price(s), then, KCS would get 80% of that amount.  which
makes it impossible to do a clean hedge.  However, the deals KCS has, is that
they receive [in this instance, in general] 80% of the residue gas, at a set
IFGMR price.  Thus, we can decide on a volume, we know the pricing, and we
can hedge.  No issue.

I did receive a binder today with all the gulf coast gas marketing contracts
[and briefs].  I have not looked at any of this so I am not sure what all is
in there, but I do not think gathering, processing... contracts are
included.  Merrill - by chance, have you reviewed any of these?

I s/b receiving the mid con contracts/briefs on Friday.

OIL

Getting the crude info has been harder than the gas.  There are about 14
fields in the gulf coast area - totaling a little under 500 BOPD.  There are
about 16 fields in the mid con/Michigan area - totaling a little over 2,300
BOPD, of which, 1,440 b/d is sour, and 530 is in Michigan.  For the fields
Mills Ranch, Oak Hill and Pittsburg, the operator markets the crude under
their JOA.  Thus, I have no information re these fields.  All the crude is
termed up for the next month or so, so it will soon be available for you to
take in kind.  There is no crude under the Hall Houston VPP.

Don - I have highlighted in bold the field where Randy [KCS Tulsa] said the
oil is, for sure, obviously, sour. At first he was telling me that what
deemed 40' means is that the crude is sour, but he's really getting a sweet
price.   Needless to say, he is checking with their crude oil marketing
person - Tom Kivisto, whom I know you know, to find out what field(s) really
are sour.  On your chair are the two spreadsheets for each region.  The mid
con spreadsheet is also below, the gulf coast spreadsheet is only a hard
copy.  Give me a call and let's discuss.  We are currently using a basis of
$3.00, and any notional basis number would greatly be appreciated.

Larry - call me and let's talk about what you need.


Interconnect"
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Baughman Jr., Don </O=ENRON/OU=NA/CN=RECIPIENTS/CN=DBAUGHM>
X-To:
X-cc:
X-bcc:
X-Folder: \ExMerge - Baughman Jr., Don\Calendar
X-Origin: BAUGHMAN-D
X-FileName: don baughman 6-25-02.PST

Congestion in  the   transmission system for the Eastern
Interconnect"


Do you have an idea of when we'll see the first turn of the PSA?  I ask
because it appears that Williams will not agree to the issuance of a press
release until we receive special approval from the audit committee and the
definitive agreement is executed.
Is it possible to have the PSA ready to execute on the 21st or 22nd and
drafted such that we close upon completion of due diligence and receipt of
HSR approval (early termination?).

Thanks.  Eva.


Update for FYI

Also, highly recommend adding Tony Hamilton to the Research Group,
cross-train him one month in Houston, per our teleconference this am.

- - - Mike
---------------------- Forwarded by Mike A Roberts/HOU/ECT on 01/26/2001
02:59 PM ---------------------------

	Enron North America Corp.

	From:  Stephen Bennett @ ENRON                           01/26/2001 02:48 PM

To: Mike A Roberts/HOU/ECT@ECT
cc:
Subject: North Atlantic Forecasts

Mike...

In response to Phil Clifford's request - I have constructed webpage that
provides wind, wave, and storm information for the production and
tranportation areas of the North Atlantic.  I've linked the site from the
Research Weather Homepage to the European Weather support page.  Here is the
link:

http://ecthou-webcl1.corp.enron.com/research/Weather/Europe/europe_full.htm

From here - follow the:  "North Atlantic Production/Transport" link.  Let's
see what customer feedback we get - and I will continue to investigate
further avenues
 of support.

Steve

Stephen Bennett
Meteorologist - Research
Enron Americas
Ext. 5-3661


Kay, Please review the attached data sheet and let me know if there are any
problems.  Thanks.


Good afternoon Ida  (better name for you than me).  EC was uneventful, given
that I wore no crazy hat.  At the right time though.  I know the party will
be great--try not to stress too much, besides your plans sounded great and
I'm sure everyone will have a great time.  I'm leaving in a little while to
go to the closing ( and collect some cash!), and am out the rest of the
afternoon--cruising in the ida-mobile!  In case you were wondering, I used
almost  a half mile of bubble wrap yesterday moving my art to the new house
and will recycle it if there are some cool kid things to do with it.  Ideas?

Later.

Alexandra Saler@EES
11/27/2000 11:35 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject:

how was the EC meeting this morning?  did you wear funky shoes or a hat?  I
have had a crazy morning.  so much is going on for this weekend.
I trying not to stress, but I already have some butterflies.  I know
everything is going to be great, there are just so many pieces to keep track
of.  I have a meeting this afternoon with about 10 people on my event team,
so I'll feel better when that is over.

I am glad that you brought the Ida mobile b/c it is going to be gorgeous
today!  what time is your closing?  good luck with that.
have a great day!


See attached


Another Utility Bailout Should Leave Us Cold
George Miller
Sunday, December 31, 2000
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2000/12/31/E
D134916.DTL
OUR CURRENT energy problems are urgent and serious. But before the governor
and the Public Utilities Commission cut yet another deal costing consumers
billions of dollars, perhaps they should pause to ask the public what kind of
system it wants and what it will end up with after investing billions more.
Failure of energy deregulation could speed real deregulation that might
benefit consumers with real capacity and real competition. But this will not
happen if the focus is only on California utilities and their shareholders.
The original deregulation deal was designed, as I see it, to keep competition
out of California -- and to maximize the rates consumers would pay for every
bad past business decision by PG&E and other California utilities.
Similarly, current bailout discussions are about forcing California
ratepayers to pay for the failed deregulation plan designed by the utilities
themselves. Once again, the companies seek to maximize profits and socialize
the losses.
Following on the heels of California's deregulation, the state's utilities
came to the congressional delegation and urged us to protect the plan from
federal deregulation efforts. They argued that the deal they cut was good for
all parties. Their executives repeated time and again that they might benefit
from the plan's cap on consumer prices -- and that there was a risk to them
if wholesale prices were to go up.
This, they told us, is the marketplace. They were willing to absorb the risk.
This was the brave new world of free markets.
But markets are never free. From the beginning, this deregulation plan was
designed to buy the California utilities time and advantage. Initially,
consumers saw lower rates, but not as low as real competition might have
provided when compared to the heavily sheltered market of the past five
years. Now, because this rigged marketplace has failed, the utilities want
again to put their hands into the ratepayers' pockets.
At first, PG&E and Southern California Edison asked the Public Utilities
Commission to have California consumers pay the entire cost of deregulation's
risks. Their idea did not pass the smell or the laugh test.
Now the utilities look for a way to repackage their old proposal, including a
substantial rate increase. The rationale is that the utilities may collapse
financially. This threat is supposed to inspire Gov. Gray Davis and the PUC
to quickly put the ratepayer on the hook for the utilities' failures.
During the past year, dozens of utilities have merged all across America.
PG&E, for example, may not be worth much to its shareholders, but like AT&T,
it may be worth something to its competitors. This is the genius of the
American marketplace.
PG&E shareholders bought the stock, assuming the risk. Why should the
ratepayers be asked to insulate them from that risk? During this past year,
tens of billions of dollars of market capitalization were lost by various
Silicon Valley high-tech firms. Their shareholders do not get the benefit of
going to the PUC and getting a taxpayer bailout.
The ratepayer has already paid for this energy under a contract that
utilities struck with the people of the state of California. Any additional
payment by the ratepayer is a financial bailout. Any prudent investor would
ask what the return will be before handing over billions of dollars. The
ratepayer deserves an answer, as well as some equity or other consideration.
George Miller is a Democratic congressman from Martinez.


I like it, that is where I am staying!
m


> Tuesday 5th September 2000
>
> The Monte Carlo Rendez-Vous Reporter from Reactions, in association with
> Guy Carpenter [http://www.guycarp.com].  Simply click on the link next to
> each headline to read the full story.
>
> Top stories of the day:
>
> Back to basics for Employers Re
> http://www.reactionsnet.com/conferences/viewStory.asp?id=675
>
> Deconstructing the nature of risk
> http://www.reactionsnet.com/conferences/viewStory.asp?id=680
>
> ALSO:
> Quackenbush report condemned
> http://www.reactionsnet.com/conferences/viewStory.asp?id=683
> Fremont moves to stem loses
> http://www.reactionsnet.com/conferences/viewStory.asp?id=684
> Independent toughs it out
> http://www.reactionsnet.com/conferences/viewStory.asp?id=677
> XL to grow reinsurance business
> http://www.reactionsnet.com/conferences/viewStory.asp?id=679
> Taylor will stay in industry after leaving Lloyd's
> http://www.reactionsnet.com/conferences/viewStory.asp?id=676
> St Paul Re restructures
> http://www.reactionsnet.com/conferences/viewStory.asp?id=678
> Purkiss unveils Alea
> http://www.reactionsnet.com/conferences/viewStory.asp?id=681
> Wurtt UK goes digital
> http://www.reactionsnet.com/conferences/viewStory.asp?id=682
> Unum boosts Max Re's premiums
> http://www.reactionsnet.com/conferences/viewStory.asp?id=685
> Alexander Forbes to acquire in UK
> http://www.reactionsnet.com/conferences/viewStory.asp?id=686
>
>
>
> Please visit http://www.reactionsnet.com for all the latest news from the
> world's largest insurance and reinsurance conference.
>
> Alternatively, you can read these stories on the official Rendez-Vous
> website at http://www.rvs-monte-carlo.com
>
>
> Book of the industry:
>
> Reinsurance
> Fourth Edition of Professor Robert L Carter's industry-standard textbook.
> https://ecommerce.waterside.net/reactions/Reins_Fourth.asp
>


Dear all,

I have checked John and Fran's Terminal Servers. The setting is ready for UBS. I also copy some pure libary file back to the system. However, I have not worked on any other file.

Please let me when the  files can be worked.

Thank you!

Min Zheng


The ENW bi-weekly staff meeting scheduled for Thursday, November 29, is canceled.

Thanks,

Tina Spiller
Assistant to Greg Piper
President & CEO
Enron Net Works LLC
Phone 713.853.5746
Fax 713.646.8070


I didn't hear much more than that myself.

Stacey

 -----Original Message-----
From: 	Postlethwaite, John
Sent:	Friday, January 11, 2002 4:11 PM
To:	White, Stacey W.
Subject:	RE: UBS

Not much else. Thursday the judge will approve or deny the deal. There is not too much worry about the creditors apposing the deal as has been reported. It is a matter of understanding the deal better since they were on the outside looking in.

 -----Original Message-----
From: 	White, Stacey W.
Sent:	Friday, January 11, 2002 2:08 PM
To:	Postlethwaite, John
Subject:	RE: UBS

I heard that.  How was the floor meeting?

Stacey

 -----Original Message-----
From: 	Postlethwaite, John
Sent:	Friday, January 11, 2002 2:30 PM
To:	White, Stacey W.
Subject:	UBS

UBS bought 100% of trading


Uzh mog bi i cherkanut paru slov o poezdke na Rodinu!!!

-----Original Message-----
From: Vladi.Pimenov@enron.com [mailto:Vladi.Pimenov@enron.com]
Sent: 01 October 2001 16:17
To: NShand@condenast.co.uk
Subject: RE: Happy birthday!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Spasibo za pozdravlenia!!!!

Postaraus' otmetit' ne xuzhe chem ran'she, kogda mi stoboy zazhigali ogni.

Poslednie novosti: Shipitsina rodila devochku 15 chisla, vse proshlo
normal'no, zovut Dasha.

V chetverg ultayu na rodinu, tak chto pishi komu peredat' priveti

Vladik

 -----Original Message-----
   From:   Natalie Shand <NShand@condenast.co.uk>@ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
RON@ENRON.com]

   Sent:   Monday, October 01, 2001 4:43 AM
   To:     Pimenov, Vladi
   Subject:  Happy birthday!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

   Happy birthday!!!
   S dnem rozhdeniya, Vladik. Vsego tebe "zashibis", zhelayu otmetit ne
   huzhe
   chem na Rodine! Tolko tumbochki chur ne kidat :)
   XXX
   Natalia Shand
   Management Accountant Russian Vogue/GQ

   Phone
   0207 499 9080 Ext 2141
   nshand@condenast.co.uk
   www.condenast.co.uk

   -----Original Message-----
   From: Vladi.Pimenov@enron.com [mailto:Vladi.Pimenov@enron.com]
   Sent: 12 September 2001 15:54
   To: NShand@condenast.co.uk
   Subject: RE:

   Privet!!!

   Che takoe??? U menia vse normal'no, vchera nas evakuirovali srazu,
   trseliy
   den' sideli doma smotreli telivizor... U tebia che?

       -----Original Message-----
      From:   Natalie Shand <NShand@condenast.co.uk>@ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
   RON@ENRON.com]

      Sent:   Wednesday, September 12, 2001 8:58 AM
      To:     Pimenov, Vladi
      Subject:  RE:

      Vladik, otzovis nemedlenno!

      -----Original Message-----
      From: Vladi.Pimenov@enron.com [mailto:Vladi.Pimenov@enron.com]
      Sent: 07 September 2001 17:22
      To: NShand@condenast.co.uk
      Subject: RE:

      veselo... :)

          -----Original Message-----
         From:   Natalie Shand <NShand@condenast.co.uk>@ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
      RON@ENRON.com]

         Sent:   Friday, September 07, 2001 11:09 AM
         To:     Pimenov, Vladi
         Subject:  RE:

         Da ne volnuysia, nichego ya ne poluchila! Eto tozhe shutka!

         -----Original Message-----
         From: Vladi.Pimenov@enron.com [mailto:Vladi.Pimenov@enron.com]
         Sent: 07 September 2001 17:18
         To: NShand@condenast.co.uk
         Subject: RE:

         blin, prikol'no, no imena vse ot baldi, poetomu NE SRABOTALO!!!

             -----Original Message-----
            From:   Natalie Shand <NShand@condenast.co.uk>@ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
         RON@ENRON.com]

            Sent:   Friday, September 07, 2001 11:04 AM
            To:     Pimenov, Vladi
            Subject:  RE:

            davay bistrey, umirayu ot lubopitstva

            -----Original Message-----
            From: Vladi.Pimenov@enron.com [mailto:Vladi.Pimenov@enron.com]
            Sent: 07 September 2001 17:12
            To: NShand@condenast.co.uk
            Subject: RE:

            net eshe

                -----Original Message-----
               From:   Natalie Shand <NShand@condenast.co.uk>@ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
            RON@ENRON.com]

               Sent:   Friday, September 07, 2001 11:00 AM
               To:     Pimenov, Vladi
               Subject:  RE:

               nu che, proveril?

               -----Original Message-----
               From: Vladi.Pimenov@enron.com
   [mailto:Vladi.Pimenov@enron.com]
               Sent: 07 September 2001 15:08
               To: NShand@condenast.co.uk
               Subject: RE:

               eshe ne proverial, net vremeni, napishu cherez chas

                   -----Original Message-----
                  From:   Natalie Shand <NShand@condenast.co.uk>@ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
               RON@ENRON.com]

                  Sent:   Friday, September 07, 2001 8:56 AM
                  To:     Pimenov, Vladi
                  Subject:  RE:

                  A kak tebe moi posledni e-mail?

                  -----Original Message-----
                  From: Vladi.Pimenov@enron.com
      [mailto:Vladi.Pimenov@enron.com]
                  Sent: 05 September 2001 18:22
                  To: NShand@condenast.co.uk
                  Subject: RE:

                  Privet, dorogaya!!!

                  Na perviy vopros ne znayu kak otvetit', nikogda ne
   slishal.

                  A sdelki FOREX eto prosto FOReign EXchange delas, sdelki
   po
                  pokupke-prodazhe valiuti, marki za rubli, yeni za
   dollari,
      yeni
         za
                  dollari
                  cherez marki, t.e. s liuboy valiutoy.
                   V osnovnom provodiatsia bankami. Naschet vidov ne znayu
         navernoe
                  birzhevie
                  vnebirzhevie i po vidam valiuti.

                  Day znat' esli etogo nedostatochno.

                  Vladik

                      -----Original Message-----
                     From:   Natalie Shand <NShand@condenast.co.uk>@ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
                  RON@ENRON.com]

                     Sent:   Wednesday, September 05, 2001 4:59 AM
                     To:     Pimenov, Vladi
                     Subject:  RE:

                     i eshio, Vladik. Ochen stidno, no napomni mne
   pozhaluysta
         chto
               takoe
                     forexnie sdelki i kakih tipov oni bivayut.
                     Zaranie blagodarna,
                     vasha naveki...

                     -----Original Message-----
                     From: Vladi.Pimenov@enron.com
         [mailto:Vladi.Pimenov@enron.com]
                     Sent: 16 August 2001 17:32
                     To: NShand@condenast.co.uk
                     Subject: RE:

                     Privet, privet!!1

                     Nu i ladno, chto ne znali, kakaia raznitsa.
                     Grishenovskiy rab. telefon I ne znayu, poprobuyu domoy
               dozvonitsia.

                     Novostey poka net, pisat' bol'she nechego.

                     tseluiu,
                     Vlad

                         -----Original Message-----
                        From:   Natalie Shand <NShand@condenast.co.uk>
   @ENRON

[mailto:IMCEANOTES-Natalie+20Shand+20+3CNShand+40condenast+2Eco+2Euk+3E+40EN
                     RON@ENRON.com]

                        Sent:   Thursday, August 16, 2001 4:51 AM
                        To:     Pimenov, Vladi
                        Subject:  RE:

                        pRIVET, MANIAK!
                        Vchera poluchila e-mail ot Azarkinoy, ona mne pro
         Shipitsinu
                     napisala.
                        Vse
                        vse znayut davnim-davno (krome nas s toboy,
   Vladik!) A
               Grishenki
                     rodili
                        3
                        devochek chisla vrode bi 2 avgusta. Napishi mne
         grishenskiy
               rab.
                     tel.,
                        pozdravlu. V mOskve - zhara. Pishi, maniak.
                        Tseluu. N.

                        -----Original Message-----
                        From: Pimenov, Vladi
   [mailto:Vladi.Pimenov@ENRON.com]
                        Sent: 14 August 2001 15:54
                        To: NShand@condenast.co.uk
                        Subject:

                        a nu-ka , day mne svoy telefon rabochiy s kodom i
      vsemi
            delami,
                        razberemsia kto maniak..... :-)

   **********************************************************************
                        This e-mail is the property of Enron Corp. and/or
   its
            relevant
                     affiliate
                        and
                        may contain confidential and privileged material
   for
      the
            sole
               use
                  of
                     the
                        intended recipient (s). Any review, use,
   distribution
      or
                  disclosure
                     by
                        others is strictly prohibited. If you are not the
         intended
                  recipient
                     (or
                        authorized to receive for the recipient), please
      contact
         the
                  sender
                     or
                        reply
                        to Enron Corp. at
         enron.messaging.administration@enron.com
            and
                  delete
                        all
                        copies of the message. This e-mail (and any
      attachments
            hereto)
                  are
                     not
                        intended to be an offer (or an acceptance) and do
   not
         create
            or
                     evidence
                        a
                        binding and enforceable contract between Enron
   Corp.
      (or
         any
            of
                  its
                        affiliates) and the intended recipient or any other
         party,
            and
               may
                     not
                        be
                        relied on by anyone as the basis of a contract by
         estoppel
            or
                     otherwise.
                        Thank you.

   **********************************************************************


Chris, I am unable to publish the VaR report for the West. It is telling me it is a read only document.

John


The Commission accepted and suspended Northern's SLA filing to be effective
December 1, subject to refund and other conditions, including Northern's
providing additional documentation.  Specifically, the Commission denied the
requests for rejection of Northern's filing and request for consolidation
with Northern's Order No. 637 proceeding.  However, the Commission concluded
that  Northern's filing lacked adequate documentation and is requesting
Northern to provide the following documentation within 21 days of the Order:

1.  A narrative explanation and work papers containing detailed calculations
supporting the derivation of all numerical values included in the attachments
to its filing, including rates, allocations, load factor calculations and
billing determinants.

2.  A narrative explanation and all calculations which Northern needs to
recalculate the rate impact of the return and tax components associated with
the SLA .

3.  Documentation including commodity prices and accounting entries for both
the SLA and the cash imbalance mechanism showing how the SLA balance changed
each month during the 2nd adjustment period (period ending March 31, 2000) as
a result of activity related to the cash imbalance mechanism and how each
monthly value of the cash imbalance mechanism was determined.

The parties have 21 days to comment on Northern's additional data.  The
Commission anticipates that with such additional documentation, the issues
raised in this proceeding could be resolved on the merits without the need
for additional administrative procedures.  The Commission further stated that
Northern need not provide information related to the SLA balance for the
period after March 31, 2000.

I will forward a copy of the Order as soon as I receive it.  thanks, Maria


Janine:

First Union National Bank ("FUNB") entered into a credit derivative trade
with ENA effective 20 April 2001 (our trader was a London trader).  Although
ENA has a Master ISDA Agreement  with FUNB (the "ISDA"), this does not appear
to be the impetus for the booking since the confirm didn't reference the ISDA.

Is ENA alright confirming trades in this manner?

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


Yes I do think so.  He may want to coordinate with V&E, but that is ok.
Please point out we are working with ISDA.   Mark


---------------------- Forwarded by Phillip M Love/HOU/ECT on 02/12/2001
09:17 AM ---------------------------

From:  Veronica Espinoza @ ENRON
               02/12/2001 09:10 AM

To: Larry Joe Hunter/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Kim S
Theriot/HOU/ECT@ECT, Melinda Whalen/CAL/ECT@ECT, Dianne Seib/CAL/ECT@ECT,
Janie Aguayo/HOU/ECT@ECT, Derek Bailey/Corp/Enron@ENRON, Kevin
Meredith/Corp/Enron@ENRON, Ellen Wallumrod/NA/Enron@ENRON, Celeste
Cisneros/NA/Enron@Enron, Diane Anderson/NA/Enron@Enron, Tiffany
Williams/NA/Enron@Enron, Cindy Feldman/CAL/ECT@ECT, Patricia
Boulanger/CAL/ECT@ECT, Linda Sietzema/CAL/ECT@ECT, Sharon
Crawford/CAL/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya
Rohauer/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT,
Russell Diamond/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Nidia
Mendoza/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Darron C
Giron/HOU/ECT@ECT, Walter Guidroz/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT,
Veronica Gonzalez/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Jean
Bell/HOU/ECT@ECT, Ken Curry/HOU/ECT@ECT
cc:
Subject: Credit Report--2/12/01


Jean,

Saw the first pass of names today with their progression history.  We don't have a 100 yet, but I think once we refine the searching/gathering tool we can get close.  ( We have had problems gathering the data due to multiple sources of data retention ... have to piece the history together) Trying to only use names that have an impressive history and are ranking in the top three performance categories.

I will have good examples with progression history for tomorrows meeting.

Robert

-----Original Message-----
From: Mrha, Jean
Sent: Tue 8/14/2001 11:28 AM
To: Jones, Robert W.- HR Exec
Cc: Kitchen, Louise
Subject: FW: Meritocracy re: Management Sub-committee


god help them

Best of luck, Rick


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/19/2001
04:25 PM ---------------------------

Pamela Vande Krol Castro <castro@rice.edu> on 04/17/2001 10:28:47 AM
To: (Recipient list suppressed)
cc: werckle@ruf.rice.edu
Subject: final exams

Just a reminder that final exam time for module 6 is almost upon us (April
30 to May 4)!

If you need a slot reserved for your exam please contact Linda Werckle at
713-348-3463 as soon as possible.  Space is filling up quickly and we have
many demands for this period of time.  We want you to have the best time
possible so contact Linda as soon as you know you will be needing a room.

Let me know if you have any questions!

Pamela Castro
MBA Program Associate
Rice University
713-348-6223


Physical Books
CENTRAL  483279  Gulf
CENTMIDSTH  826984  Midcon1
CENTMIDNTH  826985  Midcon2
CENTMKTMIC  773281  Market
CENTMKTCG  773283  Market2
CENTRLTRSP  483282  Transport

Gas Daily & Price/Basis/Index Books
INTRA-CENTRAL
INTRA-CNT-GULF
IM-CENT-MID
INTRA-CEN-MID2
INTRA-CNT-MKT
INTRA-CNT-MKT2
INTRA-CNT-TRANS
INTRA-GD-TRANS
INTRA-CNT-NEW
INTRA-NGPL-STRG

If you have any questions, please call.

DG    3-9573


Paul

My current fax no. are 91 22 653 4049/61.

Rajesh

Paul Y'Barbo@ENRON
05/01/2001 04:57 AM
To:	rajesh.chandra@enron.com
cc:
Subject:	COU's

Rajesh,

I left a message with Dan Rogers regarding the availability of a COU in draft form. I have a hard copy of a COU that I believe came from OLNG. I can fax it to you tomorrow. Is your fax still 91-22-2881793?

Regards,

Paul


Hey there,

I'm going to try very hard to make it to Dick's farewell party.

Who did the invitations?  It is so clever.

Kay


Please find attached a draft agreement for the purchase of EPMI's position
with Santa Clara.

Peter Meier

 <<Purchase Agreement ver1.doc>>

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.


Bernardo is inquiring about this master.  There is nothing current in Lotus
Notes.  Paul, I think we spoke about this but I can't recall.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 09/06/2000 03:04 PM -----

	Bernardo Andrews@ENRON
	08/08/2000 01:41 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Perez Companc ISDA

---------------------- Forwarded by Bernardo Andrews/SA/Enron on 08/08/2000
03:44 PM ---------------------------

Infantino Federico <FINFANTI@pecom.com.ar> on 06/21/2000 02:04:07 PM
To: "'Bernardo.andrews@enron.com'" <Bernardo.andrews@enron.com>,
"'rodolfo.freyre@enron.com'" <rodolfo.freyre@enron.com>
cc:
Subject: Perez Companc ISDA

Rodolfo/Bernardo,

Aca les mando el Schedule y el Credit Support Annex del ISDA que tenemos
armado para Perez Companc.
Estamos en contacto para analizar que otras exposiciones podemos cubrir
adem?s de las de crudo.
Saludos,

Federico.

>  <<CSANNEX.DOC>>  <<SCHEDULEPC.DOC>>
>
 - CSANNEX.DOC
 - SCHEDULEPC.DOC


Mark, I was looking at that pricing sheet and would like to suggest that the shading in the commentary boxes... under the assumption that this becomes a printed document and that it is printed in black & white, it is very difficult to read. Perhaps a more solid background would work better.

BT


Jonathan:

Thank you for your interest in becoming a member of the Houston Society of
Financial Analysts. The AIMR web site is your best resource for information
and forms regarding AIMR and HSFA membership.

The HSFA has two categories of membership: Regular and Affiliate. In short,
requirements for Regular membership are a college degree, the successful
completion of Level 1 and three years of acceptable professional work
experience. Requirements for Affiliate membership are a college degree and
one year of acceptable work experience. "Acceptable work experience" is
defined as a professional position in finance or accounting.

The HSFA holds weekly lunch meetings from September to May. The meetings are
at noon on Wednesdays at the Houston Club downtown, 811 Rusk. In addition,
there are usually three or four annual events in the evenings. After you
become a member, you will be alerted by mail and e-mail about every meeting
and event. For more HSFA information, check out
https://www.aimr.org/socservices/socpage.asp?society=HOUSTON .

To join the Houston Society, you also have to be a member of the national
AIMR organization. For AIMR membership, go to
https://www.aimr.org/memservices/join/apply.asp and fill out the Membership
Application Form.

The HSFA currently requires you to have three sponsors: your supervisor and
two HSFA members, one of whom must be outside your firm. (If your supervisor
is an HSFA member, then only two sponsors are required.) If you do not know
any HSFA members, there are people who have volunteered to serve as
sponsors. Attached is a list; just give one of them a call. The form that
your sponsors will need is attached. They may send them in directly to AIMR
or to you. At AIMR, your application package is bundled together and sent to
me for approval. I send it back to AIMR, and they will alert you of your
membership status (and invoice you for dues) by mail. The whole process can
take five weeks or more, because AIMR only processes applications once a
month.

Please call me if you have any more questions.

Donna F. Anderson, CFA
AIM Funds
713-214-1097

 <<sponsor.doc>>
 <<sponsor.pdf>>

 - sponsor.doc
 - sponsor.pdf


The meeting Don and I had with Kinder/Morgan to discuss his Price Risk
Management Product went really well.  We met with Park Schaper (CFO), Anthony
Lannie (President of Power Group) and Jay Hopper (VP and General Manager) was
on the phone from Denver.  They were very interested with regards to
potentially replacing long term tolling agreements with this product.  Enron
could provide a five year toll and the product would begin in the sixth year
through year 15 or 20.
 We talked very little about their existing projects; Little Rock and
Michigan.  They do have all the permits for the Little Rock site and are
moving forward with the Michigan site and still do not have any tolling
agreements in place for those projects.
 The ball is currently in their court and were going to get back with Scot
with respects to the projects and with Tom on the PRM Product.  Please let me
know if you have any questions with this matter.  Thanks!
Ben


The following expense report is ready for approval:

Employee Name: Andrea Ring
Status last changed by:  Automated Administrator
Expense Report Name: Misc. Expenses
Report Total: $97.67
Amount Due Employee: $97.67

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


GT,  I will have an extra ticket for the game this weekend.  My friend who was going to go back out.  It is yours if you want to use it.  Let me know.


EFF_DT PORTFOLIO_ID DOWN95
11/17/00 MANAGEMENT-CRD 0
11/17/00 MANAGEMENT-GAS 2,922,796
11/17/00 MANAGEMENT-PWR 196,716
11/17/00 AGG-MANAGEMENT 2,993,595


Per Corporate, we have the following name change on an Enron entity,
effective today 9/18/00.  This information will be included on the final
notification report for September.

Old Counterparty Name           BA ID   CP ID   ERMS
Shortname                              New Counterparty Name    BA ID      CP
ID    ERMS Shortname
Midwest Energy Hub, L.L.C.               80670      80670
MIDWESTENEHUB                                         enovate,
L.L.C.                                  N/C              N/C        ENOVATELLC

The name overlay will be done today, the short name will change on 9/20.


Tom,

 Here is the error log generatedby the var application.

 Regards,

 Nilay

 -----Original Message-----
From: 	Victorio, Tom
Sent:	Wednesday, August 08, 2001 4:44 PM
To:	Carrington, Clara; Vinson, Donald Wayne; Keiser, Kam; Mills, Scott; Moscoso, Michael E.; Reeves, Kathy; Albrecht, Kristin; Basu, Nilay
Cc:	Wilson, Shona
Subject:	Var documentation

Here's the link to the VaR documents that Nilay mentioned in last week's meeting. They're under Risk Systems/Analytics.

http://edms.livelink.enron.com/ena/livelink.exe?func=ll&objId=7492800&objAction=browse&sort=name

Nilay, please send a copy of the log file to everybody in this email.

Just a reminder -- the meeting on Friday will be at EB3587, 3:30-4:30 PM (regular weekly schedule 2-3PM on Fridays stays the same).

Thanks.
- Tom


According to Sidley & Austin, the CFTC has registered its first "agricultural
trade option merchant" -- Kent Feeds, Inc. of Muscatine, Iowa.  Its website
is http://www.livestocknutrition.com


can you pls check on this fee.

531888, broker has a fee

thanks


Attached is a draft for your review.  Please review and lets discuss any
comments.

  After re-reading the purchase and gathering agreement, I think the
amendments should work in their present form.  The 2,500 Western gas needs to
be noted as an exception on Exhibits A of both Agreements.   Exception should
read "Up to the first 2,500 mmbtu/day of production from the Caballo Area
shall be delivered to Western.... with ENA  (or EMS as applicable for the
agreement) receiving all volumes in excess of such 2,500 mmbtu/day.  Any
decline in the Caballo Area production shall apply ratably between Western's
2,500 mmbtu/day and ENA's (or EMS as applicable for the agreement) production
levels."

I got my mind on my money and my money on my mind.


July 28, 2000
SMITH INTRODUCES BILL TO BAN MTBE IN REFORMULATED GASOLINE

Acknowledging the uphill battle that lies ahead, Senate Environment
Committee Chairman Bob Smith introduced on Thursday a bill to ban the
use of a key component in the Clean Air Act's reformulated gasoline
program.

As a sign of his intention to press ahead on the issue, Smith also
announced a full committee markup of the bill (S 2962) for Sept. 7.

Smith (R-N.H.) declared on the Senate floor: "We need to ban MTBE. ...
There will be no environmental backsliding."

Smith said he had hoped to introduce the bill a day earlier, but he was
still trying to solicit support from the main stakeholders on the issue.

Smith's bill would ban the use of methyl tertiary butyl ether, an
oxygenate used in 85 percent of reformulated gasoline, because of
groundwater contamination problems that have occurred in several states,
including New Hampshire.

While acknowledging that MTBE is effective in reducing air pollution,
Smith said it can migrate through the water table and has contaminated
drinking water supplies.

The ban of MTBE, a petroleum derivative used for years by the oil
industry, would boost dramatically the demand for ethanol, an
agriculture-based fuel that is the competing oxygenate in the
reformulated gasoline program.

Smith alluded to the tough negotiations he has had over the past six
months with the ethanol lobby and the petroleum industry. "There are
people who are dug in for various reasons," Smith said.

Smith has made the MTBE ban one of his top legislative priorities this
year. "It has to pass," Smith said. He also warned: "This is a tough,
tough issue. Everybody's not going to get what they want."

Smith promised that his bill "won't reduce the environmental benefits of
the Clean Air program."

In describing the main features of his bill, Smith said state governors
would have the option of waiving the 2 percent oxygenate requirement in
their state that is part of the reformulated gasoline program.

The Clean Air Act amendments of 1990, which established the reformulated
gasoline program for the nation's most polluted cities, require that 2
percent by weight of a gallon of gasoline must be oxygen.

MTBE was the oxygenate of choice for the petroleum industry, because of
its abundance and cheap cost of production.

Smith said his bill also would give states the authority to ban the use
of MTBE within their state. EPA also would have the authority to ban
MTBE immediately. The bill itself would phase out MTBE within four
years.

Smith's bill also would provide $200 million from the leaking
underground storage tank fund to clean up MTBE-contaminated sites.

The bill would authorize EPA to conduct a study of the environmental
consequences of the nation's transportation fuel supply.

Smith noted that while Midwestern senators strongly support a boost for
ethanol, the alternative fuel has its own environmental problems. The
main concern is that ethanol prompts faster evaporation of gasoline into
the atmosphere, which is a concern in New England and in California.

Smith said he also was interested in establishing a program to boost the
development of non-petroleum-based, alternative transportation fuels. He
then introduced his own amendment to his own bill, based on draft
legislation that he had been circulating among members.

Smith acknowledged that a ban on MTBE would increase the cost of
reformulated gasoline. He estimated his proposal would cost consumers
approximately 3 cents to 4 cents per gallon extra in areas where
reformulated gasolines were required.

A proposal put forth by the ethanol industry -- to ban MTBE but keep the
2 percent oxygenate requirement, which would be met by ethanol -- would
cost 8 cents per gallon and was unacceptable, Smith said.

Smith said he disagreed with the Clinton administration's proposal to
ban MTBE and establish an ethanol mandate. He estimated the cost at 6
cents per gallon. "Let the markets decide," Smith said.

Smith also noted that the oil industry "is not real thrilled about
this."


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No hard feelings!


Hi.  Apologies.  Things have just been nuts.  I will get you that access code
to EnronOnline just as soon as I can.  Hopefully today.  Hope all is well.

Best,
Jeff

	Cameron Sellers <cameron@perfect.com>
	02/05/2001 07:17 PM

		 To: "'PP'" <psellers@pacbell.net>, "'Prentice (Berkeley)'"
<psellers@haas.berkeley.edu>, "'Scott Laughlin'" <scottwl@hotmail.com>,
"'Jeff.Dasovich@enron.com'" <Jeff.Dasovich@enron.com>
		 cc:
		 Subject: FW: Lark in the Morning

This is something Colleen's brother told me about today.  We talk
periodically and we always end up talking about bluegrass.  He's playing the
fiddle.  He really wants us to go to this camp.  It's not bluegrass oriented
enough for me, but it is interesting.  Close to the dome too.

Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From:    Kevin Silva [mailto:kevins@silvaris.com]
Sent:   Monday, February 05, 2001 5:08 PM
To:   'cameron@perfect.com'
Subject:   Lark in the Morning

This looks too cool - wish I could go this year.  Let me know if your little
combo goes - maybe we'll make it a family event next year.
Nice chatting with you today.
Kevin

BACK TO CAMP: IT'S A LARK!  by Irene D. Thomas "What's the difference
between a fiddle and a violin?" teased one of the little signs posted to a
tree every 50 yards or so. Whether put there to slow us down on this dusty
washboard of a dirt road or to keep first timers hopeful that they were on
the right road to music camp, we never were entirely sure. But being a
second timer to Lark camp, I had looked forward to the whacko riddles and
the answer coming up just around the bend: "You don't care if someone spills
beer on a fiddle!"
"Lark in the Morning" music camp provides real and wannabe musicians a
week-long escape into the redwood forest near Mendocino for merry
music-making, and more. And then some. The camp's organizer and founder,
Mickie Zekley, and his wife Elizabeth affectionately call Lark a "musical
party with educational overtones." Actually, he explained to me later, it
began with just one clear focus: partying. When the party grew to be 100 or
more and outgrew his house, he rented the Mendocino Woodlands campground for
a weekend each year, sharing the cost and potluck meals with 250 of his best
friends.
At first there was no plan or schedule, but then people began teaching each
other new instruments and new dances. And that's where the "educational
overtones" came in. Although Mickie and his friends' taste run to Celtic and
American folk music, (he is the proprietor of Lark in the Morning music shop
in Mendocino) the ethnic variety of musicians and instruments began running
wildly all over the map, much to the benefit of the 400 or so campers today.
In one week I, for one, would personally sample or take part in Bulgarian
singing, Greek dancing, Mariachi vocals, swing singing with a band, dumbek
drumming, Russian folksongs, Cajun dance, clogging, and "non-threatening
beginning guitar." For people like me, middle aged overachievers who never
took the time to go to camp or play an instrument---but whose inner child
was alive and well--- this was heaven.
In fact, heaven is where I thought I had died and gone when I woke up that
first morning with the forest canopy light dappling my tent, the smell of
turkish coffee scenting the redwood-laced air, and celestial Andean harp
music wafting somewhere nearby like a glorious call to a musical beyond. The
only serious decision to be made in this makeshift heaven was whether to sip
coffee and nibble pastries at the Tunisian Cafe set up in this section of
"quiet camp" or to take the shuttle bus into main camp for a full breakfast
and lively conversation around the campfire. Newly dubbed the "not so quiet
camp" because the presence of the cafe encouraged late night, impromptu jams
of middle eastern drumming, fluting and even some belly dancing, this part
of camp still provided an oasis away from crowds when one wanted it. I found
it relaxing to be able to retreat here to my tent with a book and flashlight
after a full day of musical socializing.
Many others though-more obsessed, even more greedy not to miss a
thing---carried camp on deep into the night, arriving at breakfast late with
silly grins and squinted eyes, like hangovers from their musical hightimes.
They might have gone to both dances the night before, maybe to Cajun dancing
at nine and then Contra dancing at 11, followed by a jam with their favorite
group or any group that might have formed itself after midnight in the
dining room or on one of the porches. For me, one dance per night was
enough, thank you.
The exception was Balkan and Greek night, where the hypnotic, sensuous,
often frenetic strains of exotic, mideastern-tinged music grabbed my soul
and urged my feet to dance, no matter what. Gotta dance. The rhythm bounces,
jerks, syncopates. Step, cross, brush, lift, our leader modelled the steps
as we alternately circled or snaked through the dance hall, the music
picking up in pace and forcing us to do the same. Glowing with sweat myself,
I spied equally sweaty faces grinning wildly back at me, and others with
eyes closed in ecstacy. I wondered what scholars of dance have to say about
why this style of dance prevailed in so many cultures. Was it the communal
urge? A way to share the thrill of music as an act of cultural cohesion? Or
was it a primal form of safe, communal sex for the underaged and already
marrieds----the circular moving together to music that stirs and satisfies
and finally exhausts its partners?
Whatever theory one prefers, hey, this joint is really jumping. Gradually,
reluctantly, the crowd disperses, flashlights bouncing in time to the music
left behind, humming on the way to tents or cabins or campers. Some teens
never seem to turn up at their parents campsites. One of the beauties of
this place is that no one worries. Repeat visitors seemed clear about
it-Lark camp is a safe place for kids.
For those who could rise the next morning after a night like that, there
were lots more choices to be made after breakfast. Just outside the dining
hall you could see a knot of people pondering the list of offerings on the
chalkboard, a 6 by 10 timetable on which staff members had listed their
workshop offerings. (Mickie points out that there is no essential separation
between staff and campers, and I found that to be true.) Those who came with
one instrument and one style to master had the easier time of it. Devout
fiddlers went off to their Irish, or Greek, Cape Breton, gypsy, Yugoslav.
They had their plan and they stuck to it. We dilletantes, on the other hand,
could be driven crazy by the palette-which color should we dip our musical
brush into today?
To keep my sanity, I committed a schedule to paper and more or less stayed
with it through the week. First thing after breakfast was non-threatening
beginning guitar. After guitar I was happy enough to sing and dance my way
around the musical map, ending each day with swing singing, led by Piper
Heisig of the San Francisco group "Cats and Jammers." There in the dining
room, punctuated with the arhythmic pot-banging of kitchen workers getting
dinner together, we crooned oldies like "Slow Boat to China" and tried to
put our own spin on "Satin Doll." Local friends Olaf Palm and Madge Strong
kept up the rhythm section.
In between sessions I would move between locations to sample what I could
not squeeze into my own schedule. Like a spectator at a many-ringed musical
circus, I struggled to hold my focus on each happening. Moving from flamenco
guitars to klezmer might require a schizoid brain shift but one I was quite
willing to make. Inevitably I would linger at Slavko's Yugoslav session
outside the dining hall. Mostly string players, they would be unsmilingly
intent on the selection he had brought to work on-like last year's, a
haunting melange of Slavic folk and classical styles, this one slated for a
performance to benefit refugees from his homeland. Slavko was a Sarajevan.
He felt and played his music deeply, and there was always a crowd standing
nearby, eyes wet, seemingly stunned by the images his music aroused.
One of my sweetest nonmusical memories of camp was meeting Slavko's mother
and wife in the dining hall. Overhearing them speaking what sounded like
Croatian, I introduced myself in Czech-my own ancestral language-and we had
fun comparing our common wordstock. Cynthia, his wife, was an American who
learned Serbo-Croation in order to communicate with her mother-in-law, whom
they had brought here a few years ago. After that, I noticed= them often
around camp, Mama leaning heavily on Cynthia's arm, Cynthia translating in
whispers what was being said or sung. Cynthia had confessed that first night
I met her that mama had left her country reluctantly. "Why didn't you leave
me there?" the elder had asked. Why indeed, I thought, even though I
understand well the gut-wrenching ties an old woman would feel watching her
world come to an end. All of this-the personal tragedy, the Slavic
melancholy, the love for mama was caught up on Slavko's face as he directed
his devoted little impromptu orchestra.
Every moment is a learning experience at Lark. For example, one can deduce
from being there that the accordian is probably the most versatile
instrument of all. ("Play an accordian and go to camp!" reads one of Lark's
souvenir buttons.) Perhaps it qualifies for the most multicultural of
instruments as well, cutting across all ethnic lines from Cajun to Greek to
Argentine tango to French country to Slavic and around the world again. An
accordian also can turn out totally hot jazz, I found out, especially in
concert with jazz fiddle and bass.
What else did I learn from camp? The dumbek is really fun for unleashing
timid drummers. Next year I will work it into my schedule. Maybe it will
take the place of clogging which I found was harder on the legs than tap
dancing. Food, I learned, though it plays second fiddle to the musical menu,
is a major component of Lark camp's pleasures, not only because having it
prepared for you gives you more time for music, but also because Lark food
is uniformly great. (Baked salmon and tondoori chicken and vegetable lasagna
were typical dinner fare.) And the setting-in amongst redwoods and firs,
lush meadows and small streams that feed the Big River-ties all the
pleasures together, sealing us off from the irrelevant busyness we were
retreating from.
There's nothing quite like a week spent around people who don't talk about
their day jobs. Not once can I remember anyone asking me what I did out in
the real world. I liked that. We were there to make music, not to do P.R. or
plumbing repair or professorial chitchat. Wherever we came from, and
whatever tune we came to hum, we all sensed the shared humanity of our
tunes. We were exhilirated, focussed, and leveled to our highest common
denominator. Camp dust settled on us all equally.
I also liked what the guitar teacher (the one with enough patience to teach
non threatening guitar) said when he talked about the place of music in his
life. "We live in a society," he said, "that relies on things outside of
ourselves for entertainment. Maybe we've forgotten how much fun it is to
entertain ourselves." If we've forgotten, maybe it's Lark Camp that will
remind us.
p.s. Here is a sampling of this year's whacko camp riddles (they get better
every year). "What do you get when you play new age music backwards?"
answer: new age music. "How do you know when a bagpipe is out of tune?"
answer: when someone is blowing on it. "How do you know it's your lead
singer knocking at the door?" answer: he always loses the key and comes in
late. "What's the difference between an accordian and an uzi?" answer: an
uzi stops after 20 rounds. Why do bagpipers walk while playing?" answer:
It's harder to miss a moving target.

Kevin Silva
Vice President, Corporate Development
Silvaris Corporation
Tel: 206-328-0185
Email: kevins@silvaris.com
www.silvaris.com


Shirley,
I am going to take 5 vacation days in March, 3/13/00-3/17/00.
These are the days that I did not use in 1999 and Vince approved
that I take them this year.

Tanya.


Start Date: 10/12/01; HourAhead hour: 24;  HourAhead schedule download failed. Manual intervention required.


Just for your background info, the other reason we use deemed ISDAs on the
interest rate & currency deals is that the omnibus was really drafted with
commodity deals in mind.  I'd have to go back and look at it to see if it
would work at all for an interest rate or currency deal.  Do you think I
should do that?  Hopefully not or at least not til after 1/1.

	Enron Capital & Trade Resources Corp.

	From:  Tana Jones                           12/16/98 06:58 PM

To: Dale Neuner/HOU/ECT@ECT
cc: Susan Flynn/HOU/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT
Subject: Re: Waste Managment Inc.

With respect to your request for a Deemed ISDA Confirm for the referenced
counterparty, I checked with Yao, our paper guru, and he said there is no
special reason or precedence for using the Deemed ISDA confirmations for the
paper boys (unless maybe if they did a really long-dated trade).  He said we
could go ahead and use the omnibus.  Just because we hope to sign an ISDA,
doesn't necessarily mean we use the Deemed ISDA confirmations.  In practice,
we tend to use the Deemed ISDA's for international counterparties, for the
interest rate and currency desk (because a lot of their counterparties are
banks and dealers and more familiar with the ISDA's, unlike our energy
counterparties).

Call me with any questions...


MTBE plant is up and running.  Production for Tuesday, May 23, was in excess
of 12 MB.


I'd be more than happy to run a test of the new forward obligation report in
order for you to move it to production. I do use the application everyday
when determining the West desk positions in relation to each other, so it's a
report I'm familiar with and also one that may affect me if it's changed.
Please let me know if you'd like me to run the report and under what terms.

Thanks,
Kate Symes
Trading Support
503-464-7486


This meeting has been changed from Monday, October 1 to Monday, October 22.  I will get back to you with the confirmed location.

Please contact me if you have any questions.

Thanks,
Joannie
3-1769