Adrian has incorporated my edits, so I send it to you for any FINAL changes
you recommend.  Please contact Adrian directly--I am leaving town and he is
anxious to complete this and put it in the public domain.

I'd look carefully at the last 2 1/2 pages on alternatives to price
caps--state and federal reforms.

If this is turned around tomorrow, have Adrian send it to one of you for
distribution to Linda Robertson et al.

Thanks,

- Rob

----- Forwarded by Rob Bradley/Corp/Enron on 04/05/2001 09:51 AM -----

	Adriantm@aol.com
	04/04/2001 08:08 PM

		 To: Rob.Bradley@enron.com, lkiesling@lycos.com
		 cc:
		 Subject: Re: price caps letter

Here is the yet-again revised draft of the letter. ?Is this ready to go? ?Or
did you have someone else to review it? ?Let me know right away, I would
like
to get the mailing started.

Adrian
 - Price controls letter 5.doc


For the next two days, you can call me on the cell# 832-724-6346.
Krishna.


FYI -- attached is the new org chart for EGM.

Lisa
---------------------- Forwarded by Lisa Yoho/HOU/EES on 10/12/2000 05:57 PM
---------------------------
From: Cathy Phillips@ECT on 10/12/2000 03:09 PM
To: Lisa Yoho/HOU/EES@EES
cc:
Subject: Re: Organizational Chart

The chart is attached below.  If it does not open properly, please send me
your room number and I will send you a hard copy.

Thank you.

Cathy Phillips
X-36898

Lisa Yoho@EES
10/12/2000 02:47 PM
To: Cathy Phillips/HOU/ECT@ECT
cc:
Subject: Organizational Chart

Cathy --

Mike asked that I get a copy of the new org chart from you.

Thank you!!

Lisa


All

Following the meeting this morning I have typed up some notes and associated
actions. Could everyone please look at the attachment and let me know whether
I have understood the requirements correctly, and also who is going to action
each point, either the project team or the legal department.

Thank you for your assistance in getting this under way.

Regards

Stuart
x35699


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 12/06/2000
04:04 PM ---------------------------

"Lucy Gonzalez" <stagecoachmama@hotmail.com> on 12/05/2000 08:34:54 AM
To: pallen@enron.com
cc:
Subject:

Phillip,
       How are you and how is everyone? I sent you the rent roll #27 is
moving out and I wknow that I will be able to rent it real fast.All I HAVE
TO DO IN there is touch up the walls .Four adults will be moving in @130.00
a wk and 175.00 deposit they will be in by Thursday or Friday.
                                       Thank You , Lucy

______________________________________________________________________________
_______
Get more from the Web.  FREE MSN Explorer download : http://explorer.msn.com

 - rentroll_1201.xls


Phillip,

Here's the power point presentation with updated information.


The fees that we charge for marketing EES has been revised and will take effect 10/4/01.  The new fees are as follows:

	1-100mw's=$3 fee
	100-200mw's=$4 fee
	over 200mw=$5 fee

Please note that if we market 101mw's for EES then we charge them $4 on the whole 101mw's for a total fee of $404.  Also if we were to market 201mw's for them then the total fee would be $1005 dollars.  In other words if they go over a the limit on one fee then we charge them the higher fee on all the mw's.

thanks,

ryan


Mark-

I'd like to brief you further on events in Washington today and also, in
Mark H's absence, discuss briefly the proposed activities of the Energy
Derivatives Committee over the next few months.  Enron, of course, has a
major role.  I look forward to hearing from you.

Best regards, Ruth (212-332-2562)


I updated the June transport usage tickets today through HPL, and will be
finishing these tickets tomorrow.  Rates have been updated to reflect current
matrix rates and all baseload rates that I know of at this time.  I have not
yet received third party transport rates, so if you know of any, please let
me know.  Also, I have zeroed out some volumes on some tickets for June, so
your schedulers will have to update volumes as they know them.  Rule of thumb
was that if I had to add a month, I refreshed the rate but left volume at
zero.  If the months were already on the ticket, then I refreshed the rate
and left the volume as is.

I would advise that your schedulers check volumes on all pipes to ensure
they're reflected in Position Manager correctly.  Please let me know if you
have any questions.  All pipes will be updated by tomorrow morning.

Heidi


On September 27, 2001, ISO New England Inc. filed proposed amendments to its Special Interim Market Rule
originally filed with the Commission on November 1, 2000.  Protests and interventions are due Oct. 29.
Please let me know if you need further information.

Susan Lindberg
713.853.0596


The WEVA Presentation will be held on 12/13/00 from 2:00p - 3:00p in
Conference Room - 46C1.  Please refer to attachment below for further details.

Thanks,

Felicia
for George Hopley

---------------------- Forwarded by Felicia Doan/HOU/ECT on 12/11/2000 01:35
PM ---------------------------

George Hopley
12/11/2000 12:06 PM
To: Felicia Doan/HOU/ECT@ECT
cc:
Subject: ENRON: WEFA Presentation December 13

Felicia -
Please include this in the email about Wednesday's meeting

---------------------- Forwarded by George Hopley/HOU/ECT on 12/11/2000 12:03
PM ---------------------------

"Peter McNabb" <peter.mcnabb@wefa.com> on 12/11/2000 12:00:50 PM
To: <ghopley@enron.com>
cc: "Kemm Farney" <kemm.farney@wefa.com>, "Ronald Denhardt"
<ron.denhardt@wefa.com>
Subject: ENRON: WEFA Presentation December 13

Dear George
I trust all is well. In advance of Kemm's presentation to your team on
Wednesday, I am attaching our WEFA Energy Services brochure to better
familiarize your team with the WEFA services available to you. I realize
Kemm will be focusing on Power, the brochure simply provides additional WEFA
background as a courtesy.

Regards, Peter

Peter A. McNabb
Vice President Energy Marketing, North America
WEFA Inc.
2 Bloor Street West
Suite 700
Toronto Canada
M4W 3R1
416-513-0061 ex 227

 - WEFA2000_Energy BrochureOct10.doc


Looks good to me.

	Taffy Milligan
	07/28/2000 11:35 AM

		 To: Mark Taylor/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT
		 cc: Tana Jones/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT
		 Subject: Vacation Request -

Please be advised, I am planning to take the week of Vacation, 8/7-11/2000,
unless this creates a conflict within the group.

I will notify, Brenda Whitehead so she can arrange coverage for my desk, as
soon as I receive your approval.

Thank you for your consideration.

Taffy


Please be sure to access the performance review system as soon as possible to
select persons to contribute to your review.  While commercial people are
particularly helpful, you may select reviewers at any level.


Dear Dean Rogers:

	I would very much appreciate your forwarding the attachment to the appropriate individuals at the Law School. I am most grateful for your assistance.

	Sincerely yours,


Larry,

Please take a look at the 2nd resume and let mew know what you think ( -
JPBresume2.doc.)

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/21/2000
11:49 AM ---------------------------

"pj" <pj@austingrp.com> on 11/15/2000 01:58:46 PM
To: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
cc:
Subject: TAGE Resume Submittal

Vince,
Two candidates for your review. Please call  me.
?
Paul Johnson, CPC
President
(281)  497-8595
?
Please visit our website
? www.austingrp.com
 - Wood, Shelly.doc
 - JPBresume2.doc


Greg, how big was that last check you told me to watch for. I will transfer
the remaining to the LIR. QQQ improved for your short today to close at 68
47/64. Nothing good out of CA utilities and power. Nat Gas lower today. I
will watch tonight the new President and the vanquished. Also, will today's
announcement about ENE effect you? Ben


Dear Shirley,

as you may know, I am taking the research over from Steve (I have always
thought that Steve's movement from the research is a big loss for all us).

Please, could you help us arrange the meeting with Vince when he is here in
London.

thank you very much for your future help.

Slava


FYI

Jeff
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/05/2001
03:20 PM ---------------------------

Clay Harris@ENRON_DEVELOPMENT
01/06/2001 12:14 AM
To: Jeffrey A Shankman@ECT, Mike McConnell/HOU/ECT@ECT
cc: Rick Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Daniel R
Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Dabhol

Jeff/Mike,

I understand there is some concern regarding the take-or-pay exposure under
the LNG contracts between DPC and Oman LNG and Adgas. First, there is no
direct Enron Corp exposure. Both contracts are between DPC and the related
supplier. There are no Corp performance guarantees in either SPA. Attached is
a memo sent to Jim Hughes last month outlining the contractural obligations
and current discussions with the suppliers.

From a practical standpoint both suppliers will work with us to reschedule
the start dates and to modify the fixed quantities. I  met with both
suppliers before the holidays and they reconfirmed they will work with Enron
as they understand the problems in India. We have delayed the contractural
start date under  both contracts to the maximum extent possible: February 11,
2002 for Oman and April 30, 2002 for Adgas. What this means contracturally is
more than a year to work with the suppliers. Both suppliers expect an update
on DPC when I return to the Middle East next week and both do not expect to
discuss any contract matters until the situation in India is clearer. I will
be in New Mexico through tomorrow if you want to discuss further. My phone
number is 505/336-8400.

Clay


-----Original Message-----
From: 	Zimin Lu
Sent:	Monday, May 07, 2001 6:39 PM
To:	Stinson Gibner
Subject:	1 factor HJM for the propane project

Stinson,

Here is the 1 factor HJM model for curve simulation originally designed for
a Coal Plant valuation.

This techniques is useful for all kinds of curves, especially when we
do not have the quality data to estimate other factors. (situations where
only volatility curve is availiable).

Let me know if you have any questions.

Zimin


Hey Kyle,

Attahed is an updated version of the Entex model.

-Eric


We are getting ready for the launch of "NetcoOnline".

We have been preparing new documentation, a refreshed site design and cleaned products to reflect our Gas and Power focus.

Our planned Re-Launch timetable is as follows:

Week of Jan 14:

Upon approval by the new buyer of the PA and ETA formats, we will contact our Top 50 customers and send them copies of the final PA and ETA forms with the new Buyer's name filled in. During this week, we will be working hard to get as many of the PA's returned as possible. Once we have an approved PA, we can send the customer their new User ID, which will allow them to start trading on the day we launch "NetCoOnline".

A Splash page will be available within two business days of knowing our new company name, on a web page reached via an automatic redirect from www.enrononline.com. This page will tell customers about the pending launch of "NetCoOnline" and provide links to the PA and Registration screens and also to the User Admin screens, which will allow customer Master Users to start setting up their Subusers.

A Press Release will be issued which will include the planned launch date of "NetcoOnline"

Week of Jan. 21:

If all goes well, "NetcoOnline" will be launched on Tuesday, January 22, with at least financial products (timing for gas physical and power physical to be determined according to regulatory issues).

We will send out a mass mailing to approx. 3,000 individuals at 450 companies inviting them to sign up for NetcoOnline. Included in the package will be a simple brochure, copies of the PA and ETA and a list of Frequently Asked Questions.

General Terms and Conditions (GTC's) will be available online and must be accepted online before a company can start to trade a particular commodity.

Trading/Origination Coordination

We will shortly be sending you an invitation to join a meeting in which we will be discussing launch plans in more detail and looking for people to help in contacting customers on our Top 50 list. Although we have a dedicated EnronOnline marketing team, we would appreciate assistance from traders and originators who have strong relationships with our customers and can assist in getting signed PA's returned to us.

If you have any questions please contact Bob Shults (30397) or Dave Forster (31861).


Dr. Ueng:
I wanted to mention this to you yesterday after the test, but didn't have
time.  I was taking this course because I am applying to another business
school and since I have been out of school for six years I wanted to provide
the other schools with a recent academic record.  I was trying to get an A in
the class, but my first test was not my best work. I feel that I did much
better on the second test and that Brandon and mines case studies and my
class participation were good enough to get me close to the A level.  That
said if I am also able to get a recommendation from you I would greatly
appreciate it.  I know that you are extremely busy now, so if I could get in
touch with you at your earliest convenience that would be great.  Thanks for
making the class educational and quite enjoyable.  Hope to talk to you soon
and hope you can enjoy the rest of the summer.

Regards,
Ben Rogers
713-853-7998


MG Ltd. is entering into FX transactions through ENA.  The companies have
also entered into financial copper trades (first trade 6/16/00).  I think RMT
and MG Ltd. should enter into an ISDA Master but I don't know the long term
plan for MG Ltd.   Please confirm.  Sara

P.S.  Have we assigned a single paralegal to handle RMT Masters?


FYI - reminder that the last person here every night needs to publish to the web the East P&L and the East Positions.  Everyone should have access to this and if you do not know how to load these files, let me know.  We have all been guilty of forgetting this, including myself.  We owe a big thank you to Kulvinder who has saved us a couple of nights in the last week.  Thanks.
PL


I don't have the list yet but I'll forward the info to you immediately upon
receipt.

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

	steven.kessler@db.com
	03/13/2001 12:47 PM

		 To: Sara.Shackleton@enron.com
		 cc:
		 Subject: Re: Assignment of trades

Hi Sara.  I did just hear. Your approach sounds fine.  Do you have a schedule
of trades, or should I try and dig one up?

Rgds

Steven Kessler
Director and Counsel
Deutsche Bank AG New York Branch
Tel: (212) 469-8202
Fax: (212 469-8172

Sara.Shackleton@enron.com on 03/13/2001 12:39:20 PM

To:   steven.kessler@db.com
cc:
Subject:  Assignment of trades

Hi, Steve:

We am preparing a form of assignment from ECT Investments, Inc. in favor of
Enron North America Corp. whch will transfer several credit derivative
Transactions.  I anticipate an attachment to the assignment which will
identify the trades.  I believe that Bill Bradford (Ernon) and Mark
Tarkington have discussed these trades and Bill is sending me the list.

Please let me know that you are aware of this request.  Thanks.

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


just faxed it to you...please let me know if don't receive it.

lisa
-----Original Message-----
From: Time Sheets [mailto:timesheets@iconconsultants.com]
Sent: Monday, May 20, 2002 1:34 PM
To: lgang@enron.com; gang00@msn.com
Subject: Need timesheet for last week (5/13-19)
Importance: High

Icon Information Consultants
2424 W. Loop South
Houston, Tx 77027
713-438-0919
713-438-0930 (fax)
timesheets@iconconsultants.com <mailto:timesheets@iconconsultants.com>


Please print the attached on letterhead.

I'm leaving for Connecticut shortly, and will be back in the office on
Thursday (or so I exepct).  Please handle the following

Call David Runnels at A & K and tell him thanks, but I can't use the opera
tickets this weekend.

Cancel my RSVP for Carrin Patman's lunch tomorrow.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/07/2000 09:46
AM ---------------------------

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

Subject: FCEL consent to disclosure letter

As requested, I went the abbreviated route.

Kay


Andrew Trebing
6619 N SHERIDAN 401
CHICAGO, IL 60626
atrebin@luc.edu

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Andrew Trebing


MONEY MANAGER MONITOR
FOR THE WEEK ENDED JUNE 8, 2001
-----------------------------------------------------------

THIS WEEK:

***NOTABLE CONTACT MOVEMENTS
***MERGERS & ACQUISITIONS
***NEWS
***MOORE CAPITAL: GROWING IN NEW DIRECTIONS
***MAVERICK INCREASES EQUITY ASSETS AGAIN
***OMEGA LOSES KEY MEMBERS
***ACTIVE FUNDS MOVE INTO ENERGY, TECHNOLOGY
***K CAPITAL SELLS OUT OF DIVERSIFIED SECTOR
***SECTOR COVERAGE: AAL CAPITAL MANAGEMENT CORPORATION

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

NOTABLE CONTACT MOVEMENTS

U.S.:

*HOLLY D. DEEM has been named chief executive officer of Atlanta-based
INVESCO Capital Management with responsibility for the development and
implementation of business strategies. Prior to joining INVESCO, Deem was
employed by Bank of America where she was managing director in the private
investment unit of Banc of America Capital Management. She will officially
join the firm on July 2, 2001.

*DEREK S. DERMAN, CFA recently joined Pasadena, CA-based Provident
Investment Counsel as a research analyst following small-cap companies.
Previously, Derman was employed as a security analyst with Wedbush Morgan
Securities, Inc.

*MATT GABEL recently joined the New York office of Galleon Management as an
analyst with the technology team covering the wireless sector on a global
basis.  Prior to joining Galleon, Gabel was employed by Digital Century
Capital until mid March 2001.  Gabel has also worked for Boston-based hedge
fund Sirios Capital where he worked as a security analyst following
restaurants, semiconductors and telecom and network equipment.

*LAURA L. HUSKINS, CFA and ANNE PARRY recently joined the Boston office of
Trillium Asset Management as equity analysts. Huskins was previously
employed by Adams, Harkness and Hill as an equity analyst in the "Healthy
Living" group, which covers specialty consumer stocks which address the
consumers' growing awareness of the impact of nutrition, environment and
lifestyle choices on their well-being. Parry was previously employed by
Kinder, Lydenberg, Domini & Co.

*SARAH KETTERER, managing director and leader of the international team at
Merrill Lynch Investment Managers (formerly Hotchkis & Wiley), is reportedly
leaving the firm to launch her own venture taking with her approximately 14
members of the firm. Joining her are two portfolio managers HARRY HARTFORD
and JAMES DOYLE. While at Merrill Lynch, the team managed the Mercury HW
International Value Fund. It is expected that JAMES MACMILLAN, portfolio
manager with Merrill Lynch in London, will assume management of the fund.

*WILLIAM MARTINDALE, formerly chief investment officer of West Conshohocken,
PA-based Martindale Andres & Co., recently left the firm to start a new
firm, Conestoga Capital Advisors.  Joining Martindale in the new venture is
former Martindale Andres' portfolio manager ROBERT MITCHELL.

*KATHLEEN MAUL, formerly a vice president and analyst/generalist with New
York-based Lepercq, de Neuflize & Co., recently left the firm.

*MEERA MAYER, formerly a vice president and senior portfolio manager with
Goldman Sachs Asset Management, recently left the firm. Prior to her
departure from Goldman Sachs, Mayer co-managed the SunAmerica Series- Asset
Allocation Portfolio.

*JOHN MCNULTY, the head of Goldman Sachs' combined asset management and
private wealth management business, announced that he would retire at the
end of June 2001.  Philip Murphy and Peter Kraus will replace McNulty.

*JOHN MCPHERSON recently joined Boston-based Middleton & Company as a
security analyst following healthcare, transportation, energy, telecom and
retail. Previously, McPherson was employed as an analyst covering the basic
materials and transportation industry at Evergreen Investment Management Co.

*EDWARD MCMILLAN, director of client services and president of Bee &
Associates, will retire on June 15, 2001. McMillan joined Denver, CO-based
Bee & Associates in 1993 as a partner and became president after Bruce Bee's
death in 1999. Adam Schor, CIO, will take over his client services
responsibilities, while other duties will be handed over to the marketing
department.

*GERRI SOMMERS, formerly a security analyst following retail, hardlines &
discounters, and Internet retailers with Alliance Capital Management,
recently joined the New York office of SAC Capital Advisors as a security
analyst.

*KRISHEN SUD, a co-founder of New York hedge fund Galleon Management L.P.,
is reportedly leaving the firm to start his own health care hedge fund,
Argus Partners. Additionally, Sud will take analysts ANGELI KOLHATKAR,
MATTHEW BUTEN, JACQUELINE BOVA, ALEXANDRA FORBES, and KARIN HEHENBERGER with
him. SAM NAVARRO will continue to run Galleon's health care investments in
the interim.

SELL-SIDE:

*GREGORY E. BURNS joined J.P. Morgan Securities Inc. in April 2001 as a vice
president and analyst following airfreight and logistics. Previously, Burns
served as a director and analyst following business cyclicals and
transportation at Lazard Freres & Co.

*ANDREW HUANG recently joined CIBC World Markets as a senior equity analyst
covering power electronics.  Prior to joining CIBC, Huang was an associate
analyst covering power electronics at Bear, Stearns & Co., Inc.

*MARK LANDY, DDS joined Boston, MA-based Leerink Swann & Company in June
2001 as vice president- senior analyst following medical devices.
Previously, Landy was employed by New Era Capital where he served as a
principal and head of the company's healthcare division.

*WILLIAM PIERSOL, previously an analyst covering technology with Sutro &
Company, left the firm in April 2001.

-----------------------------------------------------------
MERGERS & ACQUISITIONS

*June 6, 2001- New York Life Insurance Co. agreed to acquire San
Francisco-based McMorgan & Co., with $10.8 billion in equity assets
according to the 13F filed for the quarter ended March 31, 2001.  McMorgan
will join New York Life's other investment management units, which include
MacKay Shields and New York Life Investment Management (formerly Towneley
Capital Management).

*June 5, 2001- Royal Bank of Canada completed the acquisition of Rocky
Mount, NC-based Centura Banks, Inc., parent company of Centura Investment
Management with $732.0 million in equity assets as of March 31, 2001.
Centura will now operate under the name RBC Centura.

*June 5, 2001- FleetBoston Financial Corp. announced that it had agreed to
buy Liberty Financial Cos.' asset management units for $900 million in cash.
The deal is expected to close by the end of September.  Liberty Financial
Cos. investment management units include Liberty Wanger Asset Management,
Colonial Management Associates, Crabbe Huson Group, Liberty Asset Management
Co., Newport Pacific Management, Progress Investment Management Co. and
Stein Roe & Farnham.

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

NEWS

*Royal Bank Investment Management Inc. changed its name to RBC Global
Investment Management Inc. as a result of the combination of all the
personal and private clients investment management businesses of Royal Bank
Financial Group under one platform.

*State Street Global Alliance LLC, a jointly owned subsidiary of State
Street Global Advisors (SSgA) and the Dutch pension fund ABP that focuses on
forming partnerships with specialty asset management firms, announced that
it has formed SSARIS Advisors, LLC (SSARIS). SSARIS, which will be based in
Stamford, CT, has acquired all of the assets of RXR Capital Management.
SSARIS will manage several proprietary strategies which focus on hedged
equity, hedged fixed income and global macro strategies of the G7 economies.

RXR'S CIO Mark Rosenberg will continue in the same capacity at SSARIS.
Rosenberg is joined by chief operating officer and senior portfolio manager
James F. Tomeo, and chief financial officer Peter A. Hinrichs.  Both Tomeo
and Hinrichs held the same roles at RXR.

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

MOORE CAPITAL: GROWING IN NEW DIRECTIONS

After the retirement of hedge fund gurus George Soros and Julian Robertson
and the more recent announcement of the split of Bowman Capital Management
and Pequot Capital Management, Moore has quickly moved to the head of this
alternative investment class, although not without its own problems.

Recently the firm has been marred by a series of high profile departures
that began last year with the departure of equity strategist Stanley
Shopkorn.  In the past few months, however, the number of departures has
increased significantly as some of the firm's employees have taken financial
backing from their former employer and splintered off to form their own
hedge funds.

In a situation quite similar to that of Pequot's Arthur Samberg and Dan
Benton, (who is taking some of Pequot's assets to launch Andor Capital
Management), Moore Capital has experienced its own split.  In March 2001,
Moore Capital's technology and telecom group, led by TONY ANAGNOSTAKIS, left
the firm to start the Agnos Group.  With seed money provided by Moore
Capital, Agnos Group maintains a close relationship with Moore.  The firm's
team is composed of Managing Director PETER SWARTZ, Senior Analysts RYAN
SPAYDE and ALEX KOTLYAR, and DANIEL MACCARRONE and ROBERT YUEN.  Around the
same time, JOANNE SOJA, a health care fund manager with Moore Capital, left
the firm to launch Maximus Capital with the help of MSDW's Teresa McRoberts
and Galleon's Prem Lachman.  The Financial Times reported that Maximus, a
health care hedge fund, is backed by Moore Capital.

With the formation of the Agnos Group and Maximus Capital, it appears as if
Moore has expanded into a fund of funds approach, while maintaining its own
hedge funds and private equity ventures.  In addition to expanding other
areas of its business, the firm is also expanding into new locations.  Moore
Capital Management recently hired Thomas Weisel Asset Management's former
chief investment officer Mark Waterhouse to lead the firm's new Boston
office. Prior to joining Thomas Weisel in January 2000, Waterhouse was
employed with Wellington Management Company, LLP where he managed the
Hartford Small Company Fund, Inc.  Additionally, the firm hired former
Putnam Investment Management analyst Brian Pinsker to head the firm's
healthcare group in Boston.

For the quarter ended March 31, 2001, Moore Capital Management's 13F filing
reported $473.0 million in equity assets invested in a portfolio of 70
companies.  This was a dramatic decline from the previous quarter in which
the firm reported $1.4 billion in equity assets invested in a portfolio of
164 companies.

While some may consider ever shrinking 13F filings as evidence of a firm in
trouble, in fact, just the opposite may be true.  When reviewing the 13F
filings of many hedge funds, it is important to remember that these filings
are not always an accurate representation of a firm's true equity assets as
a result of the variety of investing techniques available to hedge funds.
For example, when a firm shorts a stock, essentially borrowing shares that
it will attempt to replace at a lower price thus making money off of the
difference, this will often appear on a 13F as a purchase when in fact they
are just replacing the shares.

Moore Capital's portfolio was invested across a wide variety of industries,
including financials (21.0%), basic materials (17.6%), diversified (13.7%),
consumer staples (12.4%), and communication services (9.3%).  Technology,
which was the second most widely held sector at the end of 2000 with 20.1%,
dropped to only 2.4% in the first quarter of 2001, likely a result of the
formation of the Agnos Group.  The majority of the selling in Moore's
portfolio was felt in the firm's financials, consumer cyclicals, technology
and health care holdings.

New positions for the quarter included Voicestream Wireless Corp. [VSTR]
with 449,909 shares valued at $41.6 million; Burlington Resources Inc. [BR]
with 550,000 shares valued at $24.6 million; Ambac Financial Group Inc.
[ABK] with 200,600 shares valued at $12.7 million; Calpine Corp. [CPN] with
197,900 shares valued at $10.9 million; and, Exelon Corp. [EXC] with 150,000
shares valued at $9.8 million.

Top holdings for the first quarter of 2001 included: Honeywell International
Inc. [HON] with 1,586,400 shares valued at $64.7 million; Quaker Oats Co.
[OAT] with 505,800 shares valued at $49.1 million; Apex Silver Mines [SIL]
with 5,734,266 shares valued at $45.6 million; Voicestream Wireless Corp.
[VSTR] with 449,909 shares valued at $41.6 million; and, Burlington
Resources Inc. [BR] with 550,000 shares valued at $24.6 million.

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

MAVERICK INCREASES EQUITY ASSETS AGAIN

For the first quarter ended March 31, 2001, Dallas-based hedge fund Maverick
Capital Ltd. reported ownership of 94 companies valued at $7.2 billion, an
increase from the previous quarter when the firm reported ownership of 109
companies valued at $6.5 billion.  The firm has distinguished itself from
many other high-flying hedge funds by continuing to consecutively increase
its equity assets under management quarter to quarter.

Top macro-sector weightings this quarter included consumer cyclicals
(20.6%), consumer staples (14.0%) and health care (13.2%).  Maverick was
more bearish on financials and health care, as those sectors declined as a
percentage of the firm's portfolio despite an increasing asset base.

Technology came in at 12.4% of the portfolio.  One year ago, technology
comprised approximately 18.7%.  Maverick, unlike many of its peers, was able
to stick to its GARP-based investment approach.  Indeed, for more than the
past year, the firm's portfolio P/E has remained below that of the S&P 500.

LEE AINSLIE's Maverick Capital considers itself an "opportunistic" investor,
picking up quality companies when prices are considered favorable.   The
firm identifies potential candidates for the portfolio using bottom-up
fundamental analysis.  Maverick looks closely at financial statements for a
financial turnaround and diversifies its portfolio across differing
industrial categories and regions.

Top five holdings included: Nextel Communications Inc. [NXTL] with 3,976,100
shares (valued at $290.3 million); Quaker Oats Co. [OAT] with 2,775,000
shares (valued at $269.3 million); Home Depot Inc. [HD] with 6,000,000
shares (valued at $258.6 million); Philip Morris Cos Inc. [MO] with
5,420,000 shares (valued at $257.2 million); and, AMR Corp. [AMR] with
6,387,200 shares (valued at $224.3 million).

Top five new purchases included: Viacom Inc. - Class B [VIA B] with
4,327,100 shares (valued at $190.3 million); Best Buy Co. Inc. [BBY] with
3,513,900 shares (valued at $126.4 million); Tiffany & Co. [TIF] with
4,575,500 shares (valued at $124.7 million); Gap Inc. [GPS] with 4,536,600
shares (valued at $107.6 million); and, Aon Corp. [AOC] with 3,022,000
shares (valued at $107.3 million).

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

OMEGA LOSES KEY MEMBERS

For the first quarter ended March 31, 2001, hedge fund Omega Advisors
reported ownership of 88 companies valued at $1.8 billion, a decline from
the previous quarter when the firm reported ownership of 86 companies valued
at $2.1 billion.

LEON COOPERMAN's New York-based hedge fund has recently suffered from the
loss of several staff members.  LAWRENCE ROBBINS, formerly a partner at the
firm, and KEN CORNICK, formerly a security analyst, recently left to found
hedge fund Glenview Capital Management.  CHARLES LEEDS, also a former
partner at Omega, also left to found New York-based Hermit Capital
Management.

Top sector weightings for the quarter included: consumer cyclicals (23.8%),
financials (15.8%), utilities (11.0%), consumer staples (10.0%), and basic
materials (9.6%).  Nonetheless, the firm saw a decrease in its holdings in
the capital goods, consumer cyclicals, and diversified sectors.  The core
value player also had a high turnover, averaging 115.0% for the year.

Top five holdings for the quarter included: Galileo International Inc. [GLC]
with 6,104,994 shares (valued at $133.7 million); Ryder System Inc. [R] with
5,322,600 shares (valued at $95.8 million); Providian Financial Corp. [PVN]
with 1,931,220 shares (valued at $94.7 million); Tyco International Ltd.
[TYC] with 1,640,521 shares (valued at 70.9 million); IMS Health Inc. [RX]
with 2,657,700 shares (valued at $66.2 million).

Top five new purchases included: Edison International [EIX] with 3,070,700
shares (valued at $38.8 million); Canadian Pacific Ltd. [CP] with 1,049,100
shares (valued at $39.5 million); Freddie Mac [FRE] with 526,000 shares
(valued at $34.1 million); Conseco Inc. [CNC] with 1,838,900 shares (valued
at $29.6 million); and, KPMG Consulting Inc. [KCIN] with 1,510,000 shares
(valued at $19.6 million).

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

ACTIVE FUNDS MOVE INTO ENERGY, TECHNOLOGY

While many hedge funds protect their principals by shorting stocks and
utilizing a variety of derivatives, some hedge funds attempt to bolster
their returns using active trading strategies.  Whether the investment
approach is merger arbitrage or classic long/short, the aggressive movement
of assets may enable a hedge fund to garner solid returns in a historically
volatile market.  Nonetheless, the firms' portfolios often represent more
recent market darlings than long-term investments.

March Partners, L.L.C.

For the first quarter ended March 31, 2001, New York-based hedge fund March
Partners, L.L.C. reported ownership of 53 companies valued at $213.0
million, an increase from the previous quarter when the firm reported
ownership of 30 companies valued at $137.1 million.

Top sector weightings included consumer staples (19.2%), technology (16.3%),
utilities (15.7%), communication services (11.0%), and energy (10.9%).
March Partners moved into technology, consumer staples, and energy while
backing away slightly from health care, utilities, and basic materials.
While the firm increased its ownership of energy producers, recent market
darlings, the firm moved away from utilities which have fallen out of favor
in many cases as a result of California's energy woes.

The firm concentrates on event driven investing, including equity
restructurings, risk arbitrage and bankruptcies.  With respect to equity
restructurings, the firm looks for companies that are changing its assets,
capital structure and/or business in some fundamental way.  The firm's event
driven portfolio seeks securities whose values are meaningfully affected by
the occurrence of well-defined future events.  Bottom-up, fundamental
analysis focuses on each company's earnings, cash flow, relative valuations,
financial strength, proprietary products and industry niche.

Top five holdings for the quarter included: Honeywell International Inc.
[HON] with 398,300 shares (valued at $16.3 million); El Paso Corp. [EPG]
with 199,014 shares (valued at $13.0 million); Voicestream Wireless Corp.
[VSTR] with 124,199 shares (valued at $11.5 million); Alza Corp. [AZA] with
265,000 shares (valued at $10.7 million); and, Citadel Communications Corp.
[CITC] with 407,500 shares (valued at $10.1 million).

Top five new purchases included the firm's purchases in El Paso Corp., Alza
Corp., and Citadel Communications.  Rounding out the top five were Tosco
Corp. [TOS] with 225,500 shares (valued at $9.6 million), and AES Corp.
[AES] with 185,151 shares (valued at $9.3 million).  During the quarter,
many new companies found their way into the firm's portfolio.  Not
surprisingly, the firm had an average annual turnover rate of 281.2%.

Taconic Capital Advisors LLC

For the first quarter ended March 31, 2001, New York-based hedge fund
Taconic Capital Advisors LLC reported ownership of 117 companies valued at
$505.7 million, an increase from the previous quarter when the firm reported
ownership of 98 companies valued at $445.1 million.

The firm concentrates primarily on merger arbitrage across all market-caps.
Taconic moved into financials, energy, and technology while backing away
from health care and diversified.  Four of the firm's top five holdings were
new purchases.  The firm has a history of rapid portfolio turnover.  For
this most recent quarter, the firm had an annual portfolio turnover of
206.0%, similar to March Partners.

Top sector holdings included financials (22.0%), technology (18.2%), energy
(13.7%), consumer staples (10.3%), and utilities (8.8%).

Top five holdings for the first quarter ended March 31, 2001 included: Encal
Energy Ltd. [ECA] with 2,061,864 shares (valued at $15.4 million); Glaxo
SmithKline Plc - ADR with 291,445 shares (valued at $15.2 million); Xcel
Energy Inc. [XEL] with 497,027 shares (valued at $15.0 million); Washington
Mutual Inc. [WM] with 342,487 shares (valued at $12.5 million); and, Ralston
Purina Co. [RAL] with 391,520 shares (valued at $12.2 million).

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

K CAPITAL SELLS OUT OF DIVERSIFIED SECTOR

Boston-based hedge fund K Capital Partners, founded in 1999 by Abner Kurtin
and Thomas Knott, both formerly with Cambridge, MA-based Baupost Group,
L.L.C., manages several investment partnerships including K Capital II,
L.P., K Capital I, L.P., and K Capital Offshore Master Fund, L.P.

K Capital Partners is a value-driven firm that also involves itself with
merger arbitrage.  For value situations, the firm looks to identify a
potential catalyst for a re-rating within their investment time horizon.
Catalysts that the firm will look for include stock buy-backs, spin-offs,
restructurings or new management.

For the quarter ended March 31, 2001, the firm reported $285.6 million in
equity assets invested in a portfolio of 26 companies.  This was an increase
from the previous quarter in which the firm reported $145.0 million in
equity assets invested in a portfolio of 15 companies.

In the fourth quarter of 2000, K Capital's portfolio was tilted in favor of
large-cap companies, which composed 65.7% of the portfolio, with mid- and
small-cap companies comprising the remainder with 8.2% and 26.1%
respectively.  In the first quarter of 2001, the portfolio was distributed
more evenly over all markets capitalizations.  Mid-cap companies garnered
the lion's share of the portfolio with 45.1%, while large- and small-caps
comprised 33.5% and 21.4% respectively.

The most heavily weighted sectors included financials (27.0%), technology
(17.8%), basic materials (10.7%), utilities (8.2%), and energy (6.7%).  From
the fourth quarter of 2000 through the first quarter of 2001, the firm sold
out of its holdings in the diversified sector, which comprised 23.0% of the
portfolio according to the 13F filed for the quarter ended December 31,
2000.

Top holdings for the quarter ended March 31, 2001 included:  KPMG Consulting
Inc. [KCIN] with 2,961,400 shares valued at $38.5 million; Allmerica
Financial Corp. [AFC] with 644,700 shares valued at $33.5 million; State
Street Corp. [STT] with 515,800 shares valued at $24.1 million; Niagara
Mohawk Holdings Inc. [NMK] with 1,380,400 shares valued at $23.3 million;
and, Chemfirst Inc. [CEM] with 833,900 shares valued at $22.2 million.  All
of the top holdings, with the exception of Chemfirst, were new purchases for
the firm.

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

SECTOR COVERAGE: AAL CAPITAL MANAGEMENT CORPORATION

Appleton, WI-based AAL Capital Management Corporation, with approximately
$7.5 billion in equity assets according to the 13F filed for the quarter
ended March 31, 2001, is a wholly-owned subsidiary of Aid Association for
Lutherans (AAL), a fraternal benefit society. The firm's investment approach
utilizes a bottom-up process with a top-down overlay for diversification and
reducing risk.  Valuation models analyze multiples of many companies,
emphasizing P/E and P/CF. The most favorable companies would then undergo
fundamental analysis, taking into consideration industry position, market
share, growth prospects, strategies to exploit prospects, management
capability and track record.

Current research responsibilities are as follows:

*JOHN HINTZ: agricultural products, aluminum, chemicals- diversified and
specialty, construction- cement & ag., containers- paper, gold & precious
metals, iron/steel, metals mining, paper/forest products, and energy (oil &
gas- drilling/equipment, E&P, refining, domestic/international integrated)

*DAVID STREIT: aerospace & defense, containers- metal & glass, electrical
equipment, engineering/construction, machinery- diversified, manufacturing-
diversified and specialty, metal fabricators, office equipment/supplies,
trucks & parts, waste management, banks (regional, major regional, and money
center), consumer finance, financial (diversified), insurance- life/health,
multi-line, P&C, insurance brokers, investment banking & brokerage,
investment management, and S&Ls

*JOHN KRAUSE: telecom- cellular/wireless, long distance, telephone,
communications equipment, electronics- instruments, electric companies,
natural gas, power producers (independent), and water utilities

*CHRIS SCHEUER: auto parts/equipment, autos, building materials, consumer-
novelties/gifts, footwear, gaming & lottery, hardware & tools, homebuilding,
household furniture & appliances, leisure time products, lodging & hotels,
publishing, retail, textiles, services- ad/marketing, broadcasting,
entertainment, household products (non-durables), housewares, personal care,
tobacco, air freight, airlines, railroads, shipping, and truckers

*JIM WOGSLAND: beverages (alcoholic, non-alcoholic), distributors
(food/health), foods, restaurants, retail (drug/food chains), services
(employment/environmental), specialty printing, services
(commercial/consumer), services (computer systems and data processing)

*CHRISTI GROMER: biotech and health care (diversified, generic drugs,
hospital management, long-term care, major pharmaceuticals, managed care,
medical products, and specialty services)

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

NOTE: Positions reported are derived from 13F filings, which do not include
cash figures, and may not be representative of a firm's equity assets as of
March 31, 2001. In addition, if a firm is hedged with many short positions,
when reversed they may appear as net purchases.

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

Questions, comments or if you would like the MMM staff to investigate any
news heard on the Street, please send inquiries to
staff@news.moneymanagermonitor.com, or call (212) 510-9263.

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

?Money Manager Monitor. 2001. Although no assurance can be given for its
accuracy, the information contained in this report was obtained from sources
considered reliable.

Except for making one printed copy of this document, published by The Money
Manager Monitor, it may not be reproduced, republished, broadcast or
otherwise distributed without prior written permission from The Money
Manager Monitor.


I have an engineer coming to my house at noon on Tuesday, Sept. 18, but
hopefully will be able to contain that meeting during lunch hour.

I have a contractor coming to my house on the afternoon of  Wednesday, Sept.
19 and will need to leave the office at 3 p.m. that day.

Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com


Dear Sir's.

Pls. find attaced port summary for voyage 001, discharge at Lake
Charles April 16th.-17th.

Brgds Oe. Hansen
Master

E-mail: master.gall@hoegh.no
Teleph: Inmarsat tel.no. 330853910
Fax   : Inmarsat fax no. 330853913
Telex : Inmarsat B telex no.330853915
Telex : Inmarsat C telex no.430853910 (24hrs.watch)

 - PORT LOG.L.C.1xls.xls


You have received this email because you are listed as a security approver.
Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000009842&Page=
Approval to review and act upon this request.

Request ID          : 000000000009842
Request Create Date : 12/11/00 11:44:19 AM
Requested For       : anabella.desouza@enron.com
Resource Name       : EOL US Backoffice  Product Data Manager
Resource Type       : Applications


Kevin:

I have a friend who is very interested in discussing opportunities as an
Enron power trader with you, and I offered to pass on her resume.  Pam is a
really neat person who has over nine years  experience and a proven track
record in the Natural Gas Industry.? Her  experience ranges from marketing,
origination,?running a desk and profit  center in trading, market making, and
management.? Most recently she ran a  regional trading desk and profit
center?at TXU Energy Trading.? Her  responsibilities included managing both a
financial and physical trading  book.? She made nine million dollars in
marked-to-market profits over the  last three years.?

Pam explained to me that with? electricity deregulation approaching,  TXU
made the decision to redefine their business plan which included shutting
down the proprietary trading side of the business.? This meant the shutting
down of the Houston Office, and Pam?made the decision not to move to
Dallas.   Due to changes in the Natural Gas industry, Pam is now ready for a
change and has been exploring career opportunities utilizing her marketing,
trading,?and  business-to-business expertise to a new commodity such as
power.?

Thank you for your consideration.  Please don't hesitate to give me a call if
you would like any further feedback.

Regards,

Leslie

?


Good to hear that you're still alive and kicking after your recent world
travels.

You're right about GW -- it wasn't pretty getting there and the big question
will be whether he made himself so ugly that he's too damaged for November.
Honestly, I'm extremely disappointed in a number of ways with the campaign
he's run and especially with some tactical decisions made by Karl and the
rest of the staff who I don't think have served him particularly well. We'll
see if they learned any lessons.

My other buddy, Rick Perry, is going to be in NYC at the end of the month
and I'm helping to raise money for the event. I can't escape.

Excellent choice for vacation. You all will love it. Not only is it great
for us adults, I think your girls will really enjoy it as well. The one
thing I would recommend (before I bring in my file and bore you with too
much) is to try and stay in one or maybe two places and not move to
different hotels. It's easy to do day trips via car or train and it's great
to come back to the same place. Granted, we were there for two weeks and
were staying at a beautiful hillside, 5 bedroom villa with a pool, but it
gives you more flexibility in your schedule, i.e. if you want to take it
easy one day and just walk around the town you're in and have a leisurely
lunch. Off the top of my head (and I will bring in my file) my favorite
places were some of the obvious such as Florence which is good for at least
one if not two full days and Siena, where Sue Mara and her family were there
for the famous horse races in the city square, but also some of the smaller
towns were just as interesting. San Gimignano is famous for its towers that
rise out of the landscape, sort of like the Houston skyline, and do a day
bike ride through the Chianti region and hit at least one winery. We did one
around Montepulciano where we stopped for lunch. There are bike tour groups
that will arrange all of it for you. I would also make the effort to go to
the Tuscan coast and specifically Portifino, one of the most beautiful ports
I've ever seen. And then if you're kids aren't susceptible to car sickness,
I would do the drive along the Chicutira (sp?) coast which is a series of
little fishing villages. This is probably more than you ever wanted to know,
but the more familiar you are with the area before you go over there, the
smoother it will be so I also recommend buying a Fodders, or whatever it's
called. They're well worth it. Also be forewarned that if you rent a car,
they are very small. Fortunately, the Kean family is also small.

Job is going great and settling into big city life very smoothly. Our stock
has been taking a beating thanks in part to your guy, Clinton, and his
interventionists statements that erased $50 billion from the biotech sector
in one day last week. But we'll make up for it when we roll out our cure.

Call if you're up this way. Greetings to everyone on the floor.

-----Original Message-----
From: Steven J Kean [mailto:skean@enron.com]
Sent: Tuesday, March 21, 2000 5:58 PM
To: gfoster@antigenics.com
Subject:

How's it going.  Have you cured cancer yet?
In other news, the Bob Jones/confederate flag strategy appears to have paid
off
for your buddy.

I'm taking the wife and kids to Tuscany this summer.  Any advice from your
trip
there?
Stay in touch.


***The Ski Trip meeting has been rescheduled for Wed., 10/31 at 10:30 a.m. in the Mt. Hood Conf. Room  ***

                                         The original meeting was planned for Thursday, 10/25 at 1:00 p.m.


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 01/27/2000
04:44 PM ---------------------------

Matthew Lenhart
01/24/2000 06:22 AM
To: Phillip K Allen/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT
cc:
Subject: dopewars

---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 01/24/2000
08:21 AM ---------------------------

"mlenhart" <mlenhart@mail.ev1.net> on 01/23/2000 06:34:13 PM
Please respond to mlenhart@mail.ev1.net
To: Matthew Lenhart/HOU/ECT@ECT, mmitchm@msn.com
cc:

Subject: dopewars

 - DOPEWARS.exe


Just got off the phone with the Federacao Unica dos Petroleiros....here's their take on what is going to happen going foreword

First of all..the news was wrong again...there is another meeting today and talks / negotiations are currently under way to alleviate the strike.

They asked for a 30% increase in wages and more disclosure on safety, but Petrobras replied that they would only raise the wage by 6%....according to the union, the inflation rate was 8.30% over the last year and they are outraged by the counter-offer of only 6%....I asked what Petrobras could do to make the workers return...she said that they only needed to offer about  a 10-12% increase.  She said that after the counter offer came back the union would disseminate the information to the workers who would then vote on whether they should return to work.

As far as refinery operations she claims that there has been little change in operations and that the last shift of workers that went in on Tuesday have been taken captive / hostage and that they have been forced to keep output flowing.  She believed that the output would fall off because the workers lacked "conviction" and wanted to leave...she thought they may break something in the refinery or revolt in order to gain freedom.  The FUP is seeking legal action against Petrobras to get the workers out, but she said that she didn't really think they could get them out...so it doesn't look like the workers will leave anytime soon and the only way the refineries are going to ramp down is if the workers sabotage the system.

When I asked her if she thought the strike would continue she said that she thought that Petrobras would make a counteroffer today and that if it was greater than 10% the workers would likely agree to work.  She said that there was much anger among the workers and that another bad counter offer would be "very destructive"

My general impression was that the strike will go on only if Petrobras doesn't play nicely.  One interesting discrepancy was that oil production, according to the union, was down 80% as opposed to the earlier 60%, but we have no way of substantiating that due to the fact it's Petrobras word against their word.


David:
Here is a draft of the ETA amendment letter that we have been discussing with
Kennecott.  It includes my proposed modifications to deal with giving them
the termination right which I have highlighted.  The current ETA states that
all notices become effective immediately.  I have inserted in my language a 3
day period after we receive a termination notice before it becomes
effective.  This creates a difference between Us and our Counterparty's since
our termination notice would become effective immediately.  What do you
think?  Do we need this 3 day period or are you okay with having their
termination notice becoming effective on the date of our receipt?
Carol


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/23/2000
08:42 AM ---------------------------

Rachel Vargas <rvargas@hbs.edu> on 02/22/2000 12:14:06 PM
To: gljackson2@tva.gov, "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
cc: ptufano@hbs.edu
Subject: Eastern Standard Time

Dear Mr. Jackson and Mr. Kaminski:

Good afternoon!

I just wanted to make sure you both understood that the Real Options
Conference, being held on Thursday, February 24 from 1:30-2pm, will be
Eastern Standard Time.

Many thanks,

Rachel Vargas
Asst. to Prof. Tufano

Dear Mr. Jackson and Mr. Kaminski:

This is to confirm that the March Real Options Conference call with Peter
Tufano will be held on Thursday, February 24 from 1:30-2pm. Mr. Jackson, I
have spoken with Suzanne and confirmed that the conference call will
originate from Peter Tufano's office.? Mr. Kaminski, I left a message in your
assistant's voicemail (Shirley), and I also spoke with Mr. Kevin Moore to
arrange this time.? Again, Professor Tufano will initiate this conference
call.

Many thanks.

Sincerely,

Rachel Vargas
Asst. to Prof. Tufano

********************
Rachel D. Vargas
Morgan Hall 370
Harvard Business School
Soldiers Field Road
Boston, MA 02163

P:? 617 495-6521
F:? 617 496-6592
email:? rvargas@hbs.edu
********************


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If you receive this message in error, please immediately delete it and
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Any reference to the terms of executed transactions should be treated as
preliminary only and subject to our formal written confirmation.

Attached please find a revised  draft of the PrimeTrade Agreement between
Enron North America and Credit Suisse  First Boston Corporation.? This draft
reflects CSFBC's response to Enron's  comments of September 1, 2000, which
were directed to my colleague, Guillaume de  Dalmas.? Once you have had a
chance to review the attached, please phone me  to discuss, or to request
execution copies, at your earliest convenience.?  Kindly note that this draft
is being sent to Guillaume for review at the same  time and is subject to
business unit approval.
?
Thank you.

Jacqueline  Didier
Legal and Compliance  Department
CREDIT | FIRST
SUISSE | BOSTON
Phone: 212-325-4129
Fax: 212-325-8282

?
 - 003680372.DOC
 - Didier, Jacqueline.vcf


Folks in Sacramento said that they haven't heard anything about it and aren't
inclined to inquire.  It's about 99% certain that we'll be "invited" to
appear before the committee that's doing the wholesale price investigations,
however, and very likely that we'll be served with a substantial number of
questions in advance of that appearance.  I'll stay on top of it and let you
know just as soon as I do.  If there's anything else, don't hesitate.

Best,
Jeff

	Lisa Yoho
	04/10/2001 08:58 AM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: James D Steffes/NA/Enron@Enron
		 Subject: CA Investigation of EOL

Jeff - Have you been able to find out any information regarding the Gas Daily
article which stated that your legislators were investigating EOL?   Thanks,

Lisa


Bob:  Are there any issues that might be useful for your goup that I should
address?  Also, I would like to chat with you about settlements on multiple
trades.  An interesting issue was raised in our credit lunch last week.
Please let me know when you are available.  Thanks.  Sara


Chonawee,

There are many interesting papers on executive stock options.

Keep bugging me for them.

Vince

Chonawee Supatgiat@ENRON
07/10/2000 03:33 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: short-sell vs exercise

Thank you, Vince.
I understand this tax effect already when you explained it to me in your
office this morning.
I agree with you that short-selling is not so good, especially for me,
because I have
a significant capital loss this year. I definitely don't want to increase my
capital loss carry over.
(The short-selling idea might work for a person who wants to exercise his
options and
already has a huge capital gain this year. Unfortunately, it is not me.)
Thanks again for pointing this out.
The "employee stock option with taxes" problem sounds interesting. I will
think more about it when I have free time.
-chonawee

Vince J Kaminski@ECT
07/10/2000 01:57 PM
To: Chonawee Supatgiat/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT

Subject: Re: short-sell vs exercise

Chonawee,

As I have pointed out, short-selling the stock may be a bad
decision because of tax implications (ignoring the legal aspects).

Suppose the strike is $70 and you were granted an ATM option.
You  sell short at $70 ten lots (one lot  = 100 shares). The price goes to
$100.
You lose $30 x 1000 = $30,000 on your short position. Option exercise
gives you $30,000. This is before taxes. You pay taxes
on your option income (it's treated as ordinary income). The tax is
28% x $30,000 = $8,400. You can use only $3,000 of your loss against
ordinary income. This saves you only $840 in taxes.

Of course, if you have capital gains, you can use losses on your option
position
as an offset.

The remaining part of your capital loss  is carried forward and you get the
tax benefits over time (less the time value of money), assuming you have
income in the
future (or capital gains).

Not so good.

By the way, valuation and optimal exercise of employee stock options
is a very interesting and difficult problem.

Vince

Chonawee Supatgiat@ENRON
07/10/2000 11:40 AM
To: Stinson Gibner/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: short-sell vs exercise

Below is my writing that was originally planned to post somewhere. It
explains how to handle a special type of call options which can be exercised
but cannot be sold. (As we know that it is never optimal to exercise a call
option before its maturity). However, after taking Vince's comments on the
ordinary income/capital loss TAX offsetting issue, I think this is not a good
article anymore. I guess I could just throw this article away. :-)
-chonawee

Short-selling is better than exercising your employee stock options

In general, the sensible time to exercise your employee stock option is when
you speculate that ENE is going down or its growth rate is extremely low. In
fact, when exercising the options, you are speculating that ENE would never
reach this point (plus interest) again during the 10 years maturity date or
until you leave the company. If you do not anticipate that, you should hold
on to your options because you can gain higher profit by delaying your
exercise.

However, if you believe that ENE is reaching its peak. Then, instead of
exercising the options, you should short-sell (or sell) the stocks in that
amount. After short-selling, when you feel that the stock starts to go up,
you can buy them back (to cover), make profit, and still keep the options. On
the other hand, if the stock does not go down as expect, you can exercise the
options to cover your short position anytime.

Let us take a look at a simple case where there are no taxes, no dividends,
and zero risk-free rate. Suppose that ENE follows a simple sample path as
follow

If you exercise 100 ENE options with a grant price of 45 when ENE reaches 70,
you would earn  (70-45)*100 = $2,500. But if you short sell 100 ENE at 70, no
matter how much ENE is in the future, you can exercise the options to cover
the short position and still earn (70-45)*100 = $2,500. The advantage of
short-selling comes when ENE at the period 2 is 60. At this point, you can
cover your short position, get (70-60)*100 = $1,000, and still keep your
options or you can exercise the options and gain $2,500. That is, you still
keep the flexibility of your options when you short-sell. In conclusion, the
only sensible time to exercise your employee stock options is to cover your
short position.


Read all the way to the bottom... (I don't know who David is, but his
response is hilarious!!!)

~~~~~~~~~~~~~~
Ya know.......some people look for things like this...and it amazes me.  At
first I rolled my eyes....then I read Dave's response and I couldn't have
said it better if I had all day to do it.
 >
 > original letter:

 > The date of the attack: 9/11 - 9 + 1 + 1 = 11
 > September 11th is the 254th day of the year: 2 + 5 + 4 = 11 After
 > September 11th there are 111 days left to the end of the year.
 > 119 is the area code to Iraq/Iran. 1 + 1 + 9 = 11
 > Twin Towers - standing side by side, looks like the number 11
 > The first plane to hit the towers was Flight 11
 > I Have More.......
 > State of New York - The 11th State added to the Union
 > New York City - 11 Letters
 > Afghanistan - 11 Letters
 > The Pentagon - 11 Letters
 > Ramzi Yousef - 11 Letters (convicted/orchestrating the attack on the
 > WTC in 1993)
 > Flight 11 - 92 on board - 9 + 2 = 11
 > Flight 77 - 65 on board - 6 + 5 = 11
 >
(Dave's response)
Oh my God! How worried should I be? There are 11 letters in the name
"David Pawson!" I'm going into hiding NOW. See you in a few weeks.
Wait a sec ... just realized "YOU CAN'T HIDE" also has 11 letters! What
am I gonna do? Help me!!! The terrorists are after me! ME! I can't
believe it! Oh crap, there must be someplace on the planet Earth I could
hide! But no ... PLANET EARTH" has 11 letters, too!  Maybe Nostradamus can
help me. But dare I trust him? There are 11 letters in "NOSTRADAMUS." I
know, the Red Cross can help. No they can't... 11 letters in "THE RED
CROSS," can't trust them. I would rely on self defense, but "SELF DEFENSE"
has 11 letters in it, too! Can someone help?  Anyone? If so, send me email.
No, don't... "SEND ME EMAIL" has 11 letters....

Will this never end? I'm going insane! "GOING INSANE???" Eleven letters!!
Nooooooooooo!!!!!! I guess I'll die alone, even though "I'LL DIE ALONE" has
11 letters.....  Oh my God, I just realized that America is doomed! Our
Independence Day is July 4th ... 7/4 ... 7+4_!
~Dave
      PS. "IT'S BULLSHIT" has 11 letters also.

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp


I have tried but cannot get the attachment to open to look at the report
produced by London.  Do you have a hard copy that I can see?  I can get it
from you during the Risk Forum luncheon today.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 11/14/2000 09:55 AM
---------------------------

From:  Cassandra Schultz @ ENRON
               11/14/2000 08:37 AM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: Rick Buy report

Sally - Plse see the attached summary that Risk Ops prepares for
Frevert/Sherriff/Brown on Enron Europe every week.  Do your business unit
controllers prepare something like this for the Americas, EGM, & EIM that we
could use in our weekly briefing to Rick Buy?  What's happening is we try to
prepare our own analysis of the trading P/L, and it really doesn't make much
sense to do that since Ops is probably already doing it.  I'd love to get
looped in to similar analyses for the other business units.  Also, do you
know who I'd contact in  EES?  I'll call Barry Pearce for EBS.

Thank you,
Cassandra.
---------------------- Forwarded by Cassandra Schultz/NA/Enron on 11/14/2000
08:30 AM ---------------------------

Homan Amiry@ECT
11/14/2000 05:52 AM
To: Cassandra Schultz/NA/Enron@ENRON
cc: Bjorn Hagelmann/HOU/ECT@ECT

Subject: Re: Rick Buy report

Attached is a copy of the latest European Trading Summary.
As this report contains the same information as the Rick Buy report, I
suggested to Ted that we stop duplicating work and simply use this report.

The report is usually produced on Monday mornings UK time, so should be ready
when the Rick gets in the office.
People to contact wrt co-ordination are, Michael Kass or his superior James
New.

Please let me know if this report will be used in this week's Rick Buy report.

Homan Amiry

From:  Cassandra Schultz @ ENRON
               13/11/2000 19:56

To: Homan Amiry/LON/ECT@ECT, Jitendra Patel/Market Risk Management/LON/ECT@ECT
cc:

Subject: Ops Weekly Update

Ted mentioned to me that you guys receive or participate or just know of some
type of weekly Enron Europe update on Fridays for Sherriff??? or some top guy
over there, and that Risk Operations (New/Jordan etc.) prepare a report for
that update.  Meanwhile, back in Houston we (MRM) independently prepare a
weekly update for Rick Buy on Thursdays.  I'd like to get a copy of the
report done last week, and talk to whoever in MRM participates, if anyone
does, or if it's just Ops then whoever that is.  I think Ted was thinking we
could leverage off this report and maybe move Rick Buy's weekly update back a
day to coincide.

Do you know what I'm talking about?  Or should I talk to Lloyd or Oliver? I'd
like to discuss after the morning meeting tomorrow if you have a minute -
maybe you can also fax or e-mail the report?

Thanks,
Cassandra.
work 713 853 0429
fax 713 646 2194


Pete, the report is fine.  Go ahead and send it out to Frevert, McMahon,
Bowen and Haedicke.  Thanks.  Mark

	Peter del Vecchio
	10/13/2000 03:53 PM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc: Julia Murray/HOU/ECT@ECT
		 Subject: Enron Industrial Markets--Monthly Legal Report (Oct. 2000)

Mark,

Attached is the EIM Monthly Legal Report for Oct. 2000.  I'd appreciate your
input whether this meets your expectations as to form and content.  Julia has
not had the opportunity to review the attached.

Pete


For your files.  Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 09/25/2000 02:57 PM -----

	SKramer@milbank.com
	09/20/2000 04:14 PM

		 To: mark.e.haedicke@enron.com
		 cc:
		 Subject: Energy Bar Association Program

Mark,

Per my telephone conversation with Margaret Gerhardt, I want to thank you
very much for your interest in participating on the e-commerce panel for the
Energy Bar Association mid-year program.? Margaret suggested that you be
listed on the program brochure as "invited," in case a conflict should arise.
The Association will be distributing a final brochure at a later date which
will reflect any changes in speakers.? Attached for your information is a
draft program brochure and a brief overview of the? e-commerce panel.? The
Association believes that the e-commerce panel is timely given the dramatic
impact that electronic commerce is having on the economy generally, and in
particular due to the unprecedented changes taking place in the energy
industries.? Having the perspective of EnronOnline, the industry leader, will
be a great addition to the program.

Please let me know if you have questions or need additional information.? I
look forward to seeing you at the program.

Steve

Steven M. Kramer
Milbank, Tweed, Hadley & McCloy LLP
International Square Building
1825 Eye Street, N.W.
Washington, D.C. 20006
TEL:? 202-835-7508
FAX:? 202-835-7586
skramer@milbank.com

 <<EBA-MidYear2000-Agenda-Draft-9-12-00.doc>>  <<EBA Mid-Year Meeting.doc>>

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.

 - EBA-MidYear2000-Agenda-Draft-9-12-00.doc
 - EBA Mid-Year Meeting.doc


John,

It seems everyone has received some level of interest in some sort of combination of the Paper, Steel and Metals businesses.  I have discussed with Greg that we ask Bruce Garner to organize the expressions of interest and see if there is anything real here.  So he will be talking with Gold and others with respect to the Metals side of this.

Regards,

Jeff

-----Original Message-----
From: Garner, Bruce
Sent: Tuesday, November 13, 2001 1:39 PM
To: Donahue, Jeff
Cc: Bowen Jr., Raymond; McMahon, Jeffrey
Subject: FW: Barrick Gold

Jeff,

To recap my discussion with Barrick today.  They are interested in what is happening here and would be interested in finding a way to participate in any potential MBO type opportunity.  They have an interest in the MG business, steel and then FP in order of preference.
Barrick has indicated that they have the management time and interest in the support of a deal.  They have also indicated the willingness of putting in $150 mm in hard equity with the potential of using their name/credit for trading risk.

regards
bruce

-----Original Message-----
From: McMahon, Jeffrey
Sent: 03 November 2001 19:15
To: Garner, Bruce
Subject: RE: Barrick Gold
Can they move fast???

Regards,

Jeff

-----Original Message-----
From: Garner, Bruce
Sent: Thursday, November 01, 2001 2:12 AM
To: McMahon, Jeffrey; Donahue, Jeff; Bowen Jr., Raymond
Subject: FW: Barrick Gold
Importance: High

Guys,

I know you are busy and this might be just a flyer but Barrick might be someone to think about if we are looking for Capital.  This note is from the head of Corporate Development and I know the CFO and CEO very well.  They are single A rated with $700 mm in cash on the balance sheet (net debt is zero).   FYI - their market cap is $6bn (abx ticker)

 We have had lots of discussions with these guys in the past about JV in trading gold.  I think they could move fast and be very discrete.  Let me know if you are interested in me talking or introducing you to them?

regards,
bruce

-----Original Message-----
From: jbutler@barrick.com [mailto:jbutler@barrick.com]
Sent: 31 October 2001 20:14
To: Garner, Bruce
Subject:
you alive?  does it makes sense for you guys to use paper to buy our credit capacity and platform?  or maybe we white knight you guys.  seriously, hope all is well and that you're surviving all of this.  J


I would like to be placed in the new garage.

Thanks,
Susan M. Scott
x31455

Parking & Transportation@ENRON
03/28/2001 04:07 PM
Sent by:	DeShonda Hamilton@ENRON
To:	Brad Alford/NA/Enron@Enron, Megan Angelos/Enron@EnronXGate, Suzanne Adams/HOU/ECT@ECT, John Allario/Enron@EnronXGate, Phillip K Allen/HOU/ECT@ECT, Irma Alvarez/Enron@EnronXGate, Airam Arteaga/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Robin Barbe/HOU/ECT@ECT, Edward D Baughman/Enron@EnronXGate, Pam Becton/Enron@EnronXGate, Corry Bentley/HOU/ECT@ECT, Patricia Bloom/Enron@EnronXGate, Sandra F Brawner/HOU/ECT@ECT, Jerry Britain/Enron@EnronXGate, Lisa Bills/Enron@EnronXGate, Michelle Blaine/ENRON@enronXgate, Eric Boyt/Corp/Enron@Enron, Cheryl Arguijo/Enron@EnronXGate, Jeff Ader/HOU/EES@EES, Mark Bernstein/HOU/EES@EES, Kimberly Brown/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, Rebecca W Cantrell/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, Carol Carter/Enron@EnronXGate, Carmen Chavira/Enron@EnronXGate, Christopher K Clark/Enron@EnronXGate, Morris Richard Clark/Enron@EnronXGate, Terri Clynes/HOU/ECT@ECT, Karla Compean/Enron@EnronXGate, Ruth Concannon/HOU/ECT@ECT, Patrick Conner/HOU/ECT@ECT, Sheri L Cromwell/Enron@EnronXGate, Edith Cross/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT, Mike Curry/Enron@EnronXGate, Michael Danielson/SF/ECT@ECT, Peter del Vecchio/HOU/ECT@ECT, Barbara G Dillard/Corp/Enron@Enron@ECT, Rufino Doroteo/Enron@EnronXGate, Christine Drummond/HOU/ECT@ECT, Tom Dutta/HOU/ECT@ECT, Laynie East/Enron@EnronXGate, John Enerson/HOU/ECT@ECT, David Fairley/Enron@EnronXGate, Nony Flores/HOU/ECT@ECT, Craig A Fox/Enron@EnronXGate, Julie S Gartner/Enron@EnronXGate, Maria Garza/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, Monica Butler/Enron@EnronXGate, Chris Clark/NA/Enron@Enron, Christopher Coffman/Corp/Enron@Enron, Ron Coker/Corp/Enron@Enron, John Coleman/EWC/Enron@Enron, Nicki Daw/Enron@EnronXGate, Ranabir Dutt/Enron@EnronXGate, Kurt Eggebrecht/ENRON@enronxgate, Marsha Francis/Enron@EnronXGate, Robert H George/NA/Enron@Enron, Nancy Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Margaret Doucette/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maria E Garcia/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Humberto Cubillos-Uejbe/HOU/EES@EES, Barton Clark/HOU/ECT@ECT, Ned E Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stinson Gibner/HOU/ECT@ECT, Stacy Gibson/Enron@EnronXGate, George N Gilbert/HOU/ECT@ECT, Mathew Gimble/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Alisa Green/Enron@EnronXGate, Robert Greer/HOU/ECT@ECT, Wayne Gresham/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT, Linda R Guinn/HOU/ECT@ECT, Cathy L Harris/HOU/ECT@ECT, Tosha Henderson/HOU/ECT@ECT, Scott Hendrickson/HOU/ECT@ECT, Nick Hiemstra/HOU/ECT@ECT, Kimberly Hillis/Enron@EnronXGate, Dorie Hitchcock/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Georgeanne Hodges/Enron@EnronXGate, Jeff Hoover/HOU/ECT@ECT, Brad Horn/HOU/ECT@ECT, John House/HOU/ECT@ECT, Joseph Hrgovcic/Enron@EnronXGate, Dan J Hyvl/HOU/ECT@ECT, Steve Irvin/HOU/ECT@ECT, Rhett Jackson/Enron@EnronXGate, Patrick Johnson/HOU/ECT@ECT, Amy Jon/Enron@EnronXGate, Tana Jones/HOU/ECT@ECT, Peter F Keavey/HOU/ECT@ECT, Jeffrey Keenan/HOU/ECT@ECT, Brian Kerrigan/Enron@EnronXGate, Kyle Kettler/HOU/ECT@ECT, Faith Killen/Enron@EnronXGate, Joe Gordon/Enron@EnronXGate, Bruce Harris/NA/Enron@Enron, Chris Herron/Enron@EnronXGate, Melissa Jones/NA/Enron@ENRON, Lynna Kacal/Enron@EnronXGate, Allan Keel/Enron@EnronXGate, Mary Kimball/NA/Enron@Enron, Bruce Golden/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kim Hickok/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elizabeth Howley/HOU/EES@EES, John King/Enron Communications@Enron Communications, Jeff Kinneman/Enron@EnronXGate, Troy Klussmann/Enron@EnronXGate, Mark Knippa/HOU/ECT@ECT, Deb Korkmas/HOU/ECT@ECT, Heather Kroll/Enron@EnronXGate, Kevin Kuykendall/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Andrew H Lewis/HOU/ECT@ECT, Lindsay Long/Enron@EnronXGate, Blanca A Lopez/Enron@EnronXGate, Gretchen Lotz/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Molly Magee/Enron@EnronXGate, Kelly Mahmoud/HOU/ECT@ECT, David Marks/HOU/ECT@ECT, Greg Martin/HOU/ECT@ECT, Jennifer Martinez/HOU/ECT@ECT, Deirdre McCaffrey/HOU/ECT@ECT, George McCormick/Enron@EnronXGate, Travis McCullough/HOU/ECT@ECT, Brad McKay/HOU/ECT@ECT, Brad McSherry/Enron@EnronXGate, Lisa Mellencamp/HOU/ECT@ECT, Kim Melodick/Enron@EnronXGate, Chris Meyer/HOU/ECT@ECT, Mike J Miller/HOU/ECT@ECT, Don Miller/HOU/ECT@ECT, Patrice L Mims/HOU/ECT@ECT, Yvette Miroballi/Enron@EnronXGate, Fred Mitro/HOU/ECT@ECT, Eric Moon/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Greg Krause/Corp/Enron@Enron, Steven Krimsky/Corp/Enron@Enron, Shahnaz Lakho/NA/Enron@Enron, Chris Lenartowicz/Corp/Enron@ENRON, Kay Mann/Corp/Enron@Enron, Judy Martinez/Enron@EnronXGate, Jesus Melendrez/Enron@EnronXGate, Michael L Miller/NA/Enron@Enron, Stephanie Miller/Corp/Enron@ENRON, Veronica Montiel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kenneth Krasny/Enron@EnronXGate, Janet H Moore/HOU/ECT@ECT, Brad Morse/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, Jesse Neyman/HOU/ECT@ECT, Mary Ogden/HOU/ECT@ECT, Sandy Olitsky/HOU/ECT@ECT, Roger Ondreko/Enron@EnronXGate, Ozzie Pagan/Enron@EnronXGate, Rhonna Palmer/Enron@EnronXGate, Anita K Patton/HOU/ECT@ECT, Laura R Pena/HOU/ECT@ECT, Susan W Pereira/HOU/ECT@ECT, Debra Perlingiere/HOU/ECT@ECT, John Peyton/HOU/ECT@ECT, Paul Pizzolato/Enron@EnronXGate, Laura Podurgiel/HOU/ECT@ECT, David Portz/HOU/ECT@ECT, Joan Quick/Enron@EnronXGate, Dutch Quigley/HOU/ECT@ECT, Pat Radford/HOU/ECT@ECT, Ina Rangel/HOU/ECT@ECT, Robert W Rimbau/HOU/ECT@ECT, Andrea Ring/HOU/ECT@ECT, Amy Rios/Enron@EnronXGate, Benjamin Rogers/HOU/ECT@ECT, Kevin Ruscitti/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Janelle Scheuer/Enron@EnronXGate, Lance Schuler-Legal/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Jean Mrha/NA/Enron@Enron, Caroline Nugent/Enron@EnronXGate, Richard Orellana/ENRON@enronXgate, Michelle Parks/Enron@EnronXGate, Steve Pruett/Enron@EnronXGate, Mitch Robinson/Corp/Enron@Enron, Susan Musch/Enron@EnronXGate, Larry Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kevin P Radous/Corp/Enron@Enron, Tammy R Shepperd/Enron@EnronXGate, Cris Sherman/Enron@EnronXGate, Hunter S Shively/HOU/ECT@ECT, Lisa Shoemake/HOU/ECT@ECT, James Simpson/HOU/ECT@ECT, Jeanie Slone/Enron@EnronXGate, Gregory P Smith/Enron@EnronXGate, Susan Smith/Enron@EnronXGate, Will F Smith/Enron@EnronXGate, Maureen Smith/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Geoff Storey/HOU/ECT@ECT, Fletcher J Sturm/HOU/ECT@ECT, John Swafford/Enron@EnronXGate, Ron Tapscott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Stephen Thome/HOU/ECT@ECT, Larry Valderrama/Enron@EnronXGate, Steve Van Hooser/HOU/ECT@ECT, Hope Vargas/Enron@EnronXGate, Brian Vass/HOU/ECT@ECT, Victoria Versen/HOU/ECT@ECT, Charles Vetters/HOU/ECT@ECT, Janet H Wallis/HOU/ECT@ECT, Samuel Wehn/HOU/ECT@ECT, Jason R Wiesepape/HOU/ECT@ECT, Allen Wilhite/HOU/ECT@ECT, Bill Williams/PDX/ECT@ECT, Stephen Wolfe/Enron@EnronXGate, Stuart Zisman/HOU/ECT@ECT, George Zivic/HOU/ECT@ECT, Mary Sontag/Enron@EnronXGate, Eric Thode/Corp/Enron@ENRON, Carl Tricoli/Corp/Enron@Enron, Shiji Varkey/Enron@EnronXGate, Frank W Vickers/NA/Enron@Enron, Greg Whiting/Enron@EnronXGate, Becky Young/NA/Enron@Enron, Emily Adamo/Enron@EnronXGate, Jacqueline P Adams/HOU/ECT@ECT, Janie Aguayo/HOU/ECT@ECT, Peggy Alix/ENRON@enronXgate, Thresa A Allen/HOU/ECT@ECT, Sherry Anastas/HOU/ECT@ECT, Kristin Armstrong/Enron@EnronXGate, Veronica I Arriaga/HOU/ECT@ECT, Susie Ayala/HOU/ECT@ECT, Natalie Baker/HOU/ECT@ECT, Michael Barber/Enron@EnronXGate, Gloria G Barkowsky/HOU/ECT@ECT, Wilma Bleshman/Enron@EnronXGate, Dan Bruce/Enron@EnronXGate, Richard Burchfield/Enron@EnronXGate, Anthony Campos/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Betty Chan/Enron@EnronXGate, Jason Chumley/Enron@EnronXGate, Marilyn Colbert/HOU/ECT@ECT, Audrey Cook/HOU/ECT@ECT, Diane H Cook/HOU/ECT@ECT, Magdelena Cruz/Enron@EnronXGate, Bridgette Anderson/Corp/Enron@ENRON, Walt Appel/ENRON@enronXgate, David Berberian/Enron@EnronXGate, Sherry Butler/Enron@EnronXGate, Rosie Castillo/Enron@EnronXGate, Christopher B Clark/Corp/Enron@Enron, Patrick Davis/Enron@EnronXGate, Larry Cash/Enron Communications@Enron Communications, Mathis Conner/Enron@EnronXGate, Lawrence R Daze/Enron@EnronXGate, Rhonda L Denton/HOU/ECT@ECT, Bradley Diebner/Enron@EnronXGate, Anna M Docwra/HOU/ECT@ECT, Kenneth D'Silva/HOU/ECT@ECT, Karen Easley/HOU/ECT@ECT, Kenneth W Ellerman/Enron@EnronXGate, Allen Elliott/Enron@EnronXGate, Rene Enriquez/Enron@EnronXGate, Soo-Lian Eng Ervin/Enron@EnronXGate, Irene Flynn/HOU/ECT@ECT, Christopher Funk/Enron@EnronXGate, Jim Fussell/Enron@EnronXGate, Clarissa Garcia/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Carolyn Gilley/HOU/ECT@ECT, Gerri Gosnell/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Michael Guadarrama/Enron@EnronXGate, Victor Guggenheim/HOU/ECT@ECT, Cynthia Hakemack/HOU/ECT@ECT, Kenneth M Harmon/Enron@EnronXGate, Susan Harrison/Enron@EnronXGate, Elizabeth L Hernandez/HOU/ECT@ECT, Meredith Homco/HOU/ECT@ECT, Alton Honore/HOU/ECT@ECT, Roberto Deleon/Enron@EnronXGate, Jay Desai/HR/Corp/Enron@ENRON, Hal Elrod/Enron@EnronXGate, Paul Finken/Enron@EnronXGate, Brenda Flores-Cuellar/Enron@EnronXGate, Irma Fuentes/Enron@EnronXGate, Jim Gearhart/Enron@EnronXGate, Camille Gerard/Corp/Enron@ENRON, Sharon Gonzales/NA/Enron@ENRON, Carolyn Graham/Enron@EnronXGate, Thomas D Gros/Enron@EnronXGate, Sam Guerrero/Enron@EnronXGate, Andrew Hawthorn/Enron@EnronXGate, Katherine Herrera/Corp/Enron@ENRON, Christopher Ducker/Enron@EnronXGate, Jarod Jenson/Enron@EnronXGate, Wenyao Jia/Enron@EnronXGate, Kam Keiser/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Lisa Kinsey/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Jenny Latham/HOU/ECT@ECT, Jonathan Le/Enron@EnronXGate, Lisa Lees/HOU/ECT@ECT, Kori Loibl/HOU/ECT@ECT, Duong Luu/Enron@EnronXGate, Shari Mao/HOU/ECT@ECT, David Maxwell/Enron@EnronXGate, Mark McClure/HOU/ECT@ECT, Doug McDowell/Enron@EnronXGate, Gregory McIntyre/Enron@EnronXGate, Darren McNair/Enron@EnronXGate, Keith Meurer/Enron@EnronXGate, Jackie Morgan/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, Gary Nelson/HOU/ECT@ECT, Michael Neves/Enron@EnronXGate, Joanie H Ngo/HOU/ECT@ECT, Thu T Nguyen/HOU/ECT@ECT, Angela Hylton/Enron@EnronXGate, Jeff Johnson/Enron@EnronXGate, Laura Johnson/Enron@EnronXGate, Robert W Jones/Enron@EnronXGate, Kara Knop/Enron@EnronXGate, John Letvin/Enron@EnronXGate, Kathy Link/Enron@EnronXGate, Teresa McOmber/NA/Enron@ENRON, James Moore/Enron@EnronXGate, Jennifer Nguyen/Corp/Enron@ENRON, ThuHa Nguyen/Enron@EnronXGate, George Nguyen/Enron@EnronXGate, Reina Mendez/Enron@EnronXGate, Frank Karbarz/Enron Communications@Enron Communications, William May/Enron Communications@Enron Communications, John Norden/Enron@EnronXGate, Kimberly S Olinger/HOU/ECT@ECT, Richard Pinion/HOU/ECT@ECT, Bryan Powell/Enron@EnronXGate, Phillip C. Randle/Enron@EnronXGate, Leslie Reeves/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Drew Ries/Enron@EnronXGate, Jose Ruiz/MAD/ECT@ECT, Tammie Schoppe/HOU/ECT@ECT, Mark L Schrab/HOU/ECT@ECT, Sherlyn Schumack/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Russ Severson/HOU/ECT@ECT, John Shupak/Enron@EnronXGate, Bruce Smith/Enron@EnronXGate, George F Smith/HOU/ECT@ECT, Will F Smith/Enron@EnronXGate, Mary Solmonson/Enron@EnronXGate, Sai Sreerama/HOU/ECT@ECT, Mechelle Stevens/HOU/ECT@ECT, Patti Sullivan/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Michael Swaim/Enron@EnronXGate, Janette Oquendo/Enron@EnronXGate, Ryan Orsak/ENRON@enronXgate, Mark Palmer/Corp/Enron@ENRON, Michael K Patrick/Enron@EnronXGate, John Pavetto/Enron@EnronXGate, Catherine Pernot/Enron@EnronXGate, John D Reese/Enron@EnronXGate, Sandy Rivas/Enron@EnronXGate, Sean Sargent/Enron@EnronXGate, Vanessa Schulte/Enron@EnronXGate, Rex Shelby/Enron@EnronXGate, Jeffrey Snyder/Enron@EnronXGate, Joe Steele/Enron@EnronXGate, Omar Taha/Enron@EnronXGate, Diana Peters/Enron@EnronXGate@ENRON_DEVELOPMENt, Harry Swinton/Enron@EnronXGate, James Post/Enron Communications@Enron Communications, Mable Tang/Enron@EnronXGate, Sheri Thomas/HOU/ECT@ECT, Alfonso Trabulsi/HOU/ECT@ECT, Susan D Trevino/HOU/ECT@ECT, Connie Truong/Enron@EnronXGate, Khadiza Uddin/Enron@EnronXGate, Adarsh Vakharia/HOU/ECT@ECT, Rennu Varghese/Enron@EnronXGate, Kimberly Vaughn/HOU/ECT@ECT, Judy Walters/HOU/ECT@ECT, Mary Weatherstone/Enron@EnronXGate, Stacey W White/HOU/ECT@ECT, Jason Williams/HOU/ECT@ECT, Scott Williamson/Enron@EnronXGate, O'Neal D Winfree/HOU/ECT@ECT, Jeremy Wong/Enron@EnronXGate, Rita Wynne/HOU/ECT@ECT, Steve Tenney/Enron@EnronXGate, Todd Thelen/Enron@EnronXGate, N Jessie Wang/Enron@EnronXGate, Gwendolyn Williams/ENRON@enronXgate, Dejoun Windless/Corp/Enron@ENRON, Jeanne Wukasch/Corp/Enron@ENRON, Lisa Yarbrough/Enron@EnronXGate, Will Zamer/Enron@EnronXGate, Ned Higgins/HOU/ECT@ECT, Saji John/Enron Communications@Enron Communications, Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Barry Tycholiz/NA/Enron@ENRON, Bob M Hall/NA/Enron@Enron, Pamela Brown/NA/Enron@Enron, Gerri Gosnell/HOU/ECT@ECT
cc:	Louis Allen/EPSC/HOU/ECT@ECT, Raquel Lopez/Corp/Enron@ENRON
Subject:	Enron Center Garage

The Enron Center garage will be opening very soon.

Employees who work for business units that are scheduled to move to the new building and currently park in the Allen Center or Met garages are being offered a parking space in the new Enron Center garage.

This is the only offer you will receive during the initial migration to the new garage. Spaces will be filled on a first come first served basis. The cost for the new garage will be the same as Allen Center garage which is currently $165.00 per month, less the company subsidy, leaving a monthly employee cost of $94.00.

If you choose not to accept this offer at this time, you may add your name to the Enron Center garage waiting list at a later day and offers will be made as spaces become available.

The Saturn Ring  that connects the garage and both buildings will not be opened until summer 2001. All initial parkers will have to use the street level entrance to Enron Center North until Saturn Ring access is available. Garage stairways next to the elevator lobbies at each floor may be used as an exit in the event of elevator trouble.

If you are interested in accepting this offer, please reply via email to Parking and Transportation as soon as you reach a decision. Following your email, arrangements will be made for you to turn in your old parking card and receive a parking transponder along with a new information packet for the new garage.

The Parking and Transportation desk may be reached via email at Parking and Transportation/Corp/Enron or 713-853-7060  with any questions.

(You must enter & exit on Clay St. the first two weeks, also pedestrians, will have to use the garage stairwell located on the corner of Bell & Smith.)


agree with contango story .   cash to futures pretty bullish but a picture
where agressive inj now are bearish later.  so curve should flatten.  also
back of curve (cal2,3) under a lot of pressure now.  customers will be buying
all the way down and will get fucked just like last year.  contango has been
under considerable pressure even with the front falling...any rally should
result in those snapping in to 4.  good scalp in my opinion.
definitely seeing your side on the $5 level.  surprised we havent gotten more
demand back as we sit at these lower levels.
off to cabo today for a long weekend.  kind of exhausted at work right now so
a much needed break.

slafontaine@globalp.com on 03/15/2001 07:50:59 AM
To: John.Arnold@enron.com
cc:
Subject: Re: utilites?

i wud think apr shud also start to find support from contangos, storage
players,
ie pretty attractive contangos given the bullsih mkt sentiment, and spec a
little short will eventually roll. i bullspd a little little at 5.5 just for a
scalp. if cash converges which it shud as we fall in px then shud see sprds
find
support at the 5-6 ct level/month? ?
    other than that-im still bearish-5 bucks not sustainable longer term and
nothing yet telling me otherwise. economy and oil curve also not going to help
ngas. buying 4.00 summer puts
  thanks for comments on utilites-i'll bet they buy all the way down but i
think
theyll have so much gas coming at em if we stay at these levels the mkt will
ultiamtely force em to back down.
  in ny yest and today-saw the red hot chili peppers last nite , was awsome,
small place about 1000 fans,maybe for a charity. also here for some of those
covert operations we talked about a while back. wkup.


Mike, Clint-

I've done some more research on water usage and have some revised consumption
rates which are less than what I told you last week.

Using the rates that I have listed below, if you run 5 days/week (weekdays),
16 hours/day (not 15 as I previously mentioned) say 6 am to 10 pm, at GE's
worse case consumption rate (+20% margin) , the tank will just be empty
Friday night (10 pm) at the end of the 16 hour run.  I then takes
approximately 42 hours to refill the tank.  (filling is completed by late
Sunday afternoon)

At GE's "expected" consumption rate (no margin), the consumption rate is so
much better that you could potentially run for 15 days straight, at 16
hours/day before you exhausted the tank.

Next week when we run the performance test, we will know exactly what the
actual consumtion rates will be.  In addition, I think (hope) that there
might be some additional capacity in the demin plant.  The 120 gpm number is
the guarantee from the vendor and at that rate the water quality is better
than what we need.  I'm going to see if I can get someone to increase the
flowrate until we are just at the limits for water quality.  I'll let you
know what that number is.

I do agree with you in that extra demin capacity is a no brainer.  Hopefully
by the end of next week, I will know exactly how much extra we would need.

By the way, there is one additional piece of info that I was informed of
today.  I been told that there is some language in the participation
agreement that says our variable O&M costs increases after we exceed 1300
hours of operation.

Hope this helps.  If you have questions, give me a call.  I'm in Austin all
week.

Thanks,
Eric Booth
x54683
(713) 412-6873 (c)

Consumption/Make-up Rates:
Demin plant make-up rate: 120 gpm
Demin Tank capacity:  300,000 gallons

Maximum or worse case Consumption rate of the plant with all four units
running full load:  236 gpm  (this has a +20% margin included by GE)
Therefor, when the plant is running, net drawdown rate on the tank is
(236-120) = 116 gpm

Expected consumption rate for the plant with all four units running at full
load:  197 gpm (this does not have any extra margin included)
Therefor, when the plant is running, net drawdown rate on the tank is
(197-120) = 77 gpm


This is an automatically generated Delivery Status Notification.

Your message has been successfully relayed to the following recipients, but the requested delivery status notifications may not be generated by the destination.

       kelley_doolan@mcgraw-hill.com
       liane_kucher@mcgraw-hill.com
       prices@intelligencepress.com
       dina.omeara@dowjones.com
       john.edmiston@dowjones.com
       gas_daily@platts.com

--------- Inline attachment follows ---------

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=PKEAVEY>
To: Dowjones1 (E-mail) <dina.omeara@dowjones.com>, Dowjones2 (E-mail) <john.edmiston@dowjones.com>, Gas Daily (E-mail) <gas_daily@platts.com>, Iferc1 (E-mail) <kelley_doolan@mcgraw-hill.com>, Iferc2 (E-mail) <liane_kucher@mcgraw-hill.com>, NGI (E-mail) <prices@intelligencepress.com>
Date: Monday, November 19, 2001 9:15:57 GMT
Subject:


Sorry about the delay,   I believe they are sitting on someone desk right
now.  I am tracking them down.  No problem just usual stacks of paper delays.

	"Bransgrove. Alan" <Alan.Bransgrove@xemkt.com>
	01/15/2001 03:32 PM

		 To: "'Gerald.Nemec@enron.com'" <Gerald.Nemec@enron.com>
		 cc:
		 Subject: RE: Assignment Agreements

Gerald:

I'm still awaiting executed copies of these Assignment agreements.  Please
advise as to the status of obtaining execution.  Is there a problem?

Alan Bransgrove
Manager, Contract Administration
Gas Acquisition & Trading
(303) 308-6172

> -----Original Message-----
> From: Gerald.Nemec@enron.com [SMTP:Gerald.Nemec@enron.com]
> Sent: Wednesday, December 13, 2000 2:28 PM
> To: Alan.Bransgrove@xemkt.com
> Cc: Paul.T.Lucci@enron.com
> Subject: Assignment Agreements
>
> Attached are the executables forms of assignments.  All of your attorney's
> changes were accepted.  Note that the assignment for the Wind River
> Contract No. 124620 is assigned for the period from Jan 1, 2001 to May 31,
> 2001.  The other contract is assigned for Dec. 1, 2000 thru March 31,
> 2001.
> Let me know if you have any questions (713) 853-3512.   Please print three
> executables of each assignment.  Thanks.
>
> (See attached file: Sandia-Enron Assignment (12-13) 124620.doc)(See
> attached file: Sandia-Enron Assignment (12-13) 124389.doc) << File:
> Sandia-Enron Assignment (12-13) 124620.doc >>  << File: Sandia-Enron
> Assignment (12-13) 124389.doc >>


This is ok with me - I take it we have used the "long form" with them in the past.  If this is the case, can we get an isda draft together for them?

Thanks,

Kim
 -----Original Message-----
From: 	May, Larry
Sent:	Thursday, August 09, 2001 1:04 PM
To:	Ward, Kim S (Houston)
Subject:	FW: Bonneville Fuels Corporation

 -----Original Message-----
From: 	Sonnonstine, Max
Sent:	Thursday, August 09, 2001 12:59 PM
To:	May, Larry
Subject:	Bonneville Fuels Corporation

Larry,
	Yesterday I noticed a small collar executed with the above entity.  We have no legal documents with this CP so would like to send out credit in the confirm.  There is little exposure to this CP, but I'd still like to cover the bases.  Please advise if this is ok with you.

Thanks,
Max Sonnonstine
Credit
x5-8261


Brett, this looks fine.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 12/18/2000
05:10 PM ---------------------------

Brett R Wiggs@ENRON
12/18/2000 04:50 PM
To: David W Delainey@ECT
cc:
Subject: Additional Language

Dave:

The following is the additional language I discussed.  Please let me know if
this is acceptable.

Thanks,
Brett

Section 24.14 Purchase Option.  Within ninety (90) Days following the
Execution Date, each of PETROBRAS and SFE agree to discuss the potential
option of PETROBRAS or one of its Affiliates to purchase all of the
outstanding equity interests in SFE following the Term of this Agreement.
Each of PETROBRAS and SFE agree that unless definitive documentation is
executed regarding such potential sale, no such discussions shall be binding
on either PETROBRAS or SFE. Each of PETROBRAS and SFE shall have no
obligation to enter into any transaction regarding such proposed sale.
Nothing in this Section 24.14 shall be deemed as a condition to the
performance of any Party under this Agreement and the failure to effect such
sale shall in no way relieve any Party of any obligation set forth herein.


Please find the attached memorandum which outlines the relevant information to hedge the financial payment to satisfy Enron's 3.85 BCF pad gas capital contribution for the Napoleonville natural gas storage cavern.

If you have any questions or comments, please contact me.

Regards,

Jean