Vasant

FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/27/2001
10:59 AM ---------------------------

"Glenn Darrah" <glenndarrah@hotmail.com> on 04/25/2001 04:27:03 PM
Please respond to gdarrah@bigfoot.com
To: Vince.J.Kaminski@Enron.com
cc:
Subject: Contact Info

Vincent,
Congratulations on spearheading the Mind's Eye Madness event - it looks like
quite a success.  My biggest disappointment is that I am leaving Enron this
week and have been too busy to participate as much as I would like.  I have
had continued interest in the work and presentations that Amy Oberg has
done, so would have really enjoyed the workshop yesterday.  I am still
considering doing some or all of the Motorcade Friday, however that may
work.

Separately, thanks for the update in the lobby today on the Enterprise Risk
project.  Please keep in touch with me.  As I mentioned, my redeployment
period ends tomorrow (April 26), but I currently do not have an outside job
lined up and still have a lot of interest in the project if something can be
worked out over the next few weeks.  Although he is not in the same group as
David Port, I have worked a lot with Brad Larson in the RAC underwriting
group - he may be a good source of information on me also.

  Contact information:
e-mail:   gdarrah@bigfoot.com
phone:    713.668.4277
cell:     713.320.5615

Thanks,
Glenn Darrah
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com


Add Mona Petrochko, peggy mahoney and Rob Bradley

Gavin Dillingham@ENRON_DEVELOPMENT
08/25/2000 04:55 PM
To: joe Hartsoe@ENRON, Sandra McCubbin@EES, Susan Mara@EES, Paul Kaufman@ECT,
Karen Denne@ENRON, Jeff Dasovich@EES, Mark Palmer@ENRON, James D Steffes@EES,
Richard Shapiro@EES, Elizabeth Linnell@EES, Jeannie Mandelker@ECT, Steven J
Kean/NA/Enron@Enron, Mark A Schroeder@ENRON, Peter Styles@ECT
cc:

Subject: California Power Issues Database

We have developed an intranet site/database for information tracking purposes
for the California Power Issue. The intranet site will be placed on the
home.enron.com webpage by Tuesday morning for all Enron employees to access.
However, today, this comprehensive database is available to you for your
California Power Issue needs.

The database has been populated with the latest information that I have
received concerning this topic and has been broken down in three categories:
California Power Issues, National Power Issues and Secured Documents. It has
then been broken down further into subcategories.

The secured documents sections will only be accessible to those that are
receiving this e-mail. Please let me know if you believe others should have
access to this information. The secured document section contains all the
information that I have received that Luntz Consulting has helped us develop,
i.e. principals, statements, speeches and facts, as well as, talking points
and other statements developed internally. These documents can be easily
switched to open access to all Enron employees if you believe that these
documents should not be restricted.

To access the intranet site you must be logged on to the network and then go
to this link:  http://nahou-lndev02d.corp.enron.com/GovtAffa.nsf  (It is best
if you copy this link and paste it in your internet Explorer or Netscape
browser.)

Once you are at this site you will  be able to access all articles and
information that I have collected/received concerning the California Power
Issue. You can navigate the site by using the links on the left hand side of
the screen. While navigating this site, keep in mind that the actual
interface will be changed before we go live on Tuesday morning.

To access the secured documents, click on secured documents and type in your
user name, which is the same as if you are logging onto the network, and then
type in your password, which is the same as if you are logging onto the
network. However, if you have difficulties entering this site, you will need
to change your Lotus internet password. Which is very simple to do and which
you will need to do regardless if you decide to use this site or not, it is
all part of the current computer migration. To change your internet password,
go to this link  and then hit the edit person key. Go to the last field that
says internet password and type in whatever password you would like,
preferably your current network login password. (In the internet password
section you will see a bunch of numbers and letters, delete those and enter
your new network password.)

There are still some bugs that will be worked out by Tuesday, but I thought
since this is such a fast moving issue it was best to get this tool out so it
could be used when needed. If you have any questions, please call me at
713-853-4382.

Thanks,

Gavin


Have you heard about the new E*TRADE Financial?  See how you can save up to $1,000!  Check out this exclusive new video.  Presenting E*TRADE Financial. A new name with a new  philosophy: to bring together comprehensive tools and  services to help you make the most of your money.

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    HOW TO UNSUBSCRIBE:  You received this e-mail because you registered on the  E*TRADE Financial Web site, or on one of our partners' sites. If  you do not want to receive partner e-mail offers, or any of  our marketing e-mails, you can change your preferences now . You are subscribed at: louise@enron.com. We take your privacy seriously. To learn more about our use of personal information, please read the Privacy Policy .

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Introducing your first SAP Paycheck!

This is the first payroll processed in SAP for all employees paid out of
Corporate Payroll. You may notice some changes in the way information is
reflected on your pay advice, the most common are itemized below.

What,s Different?
? Your +home, cost center will be displayed at the top of the pay advice.
This is your department number as designated in the HR and financial modules
of SAP.

? Any earnings descriptions that start with a +P, represent earning types
reported in the prior period. For instance, if you reported vacation time for
the July 1st-15th pay period, it will be reflected on your July 31st pay
advice as +PVacation,.

? Flex dollars will appear on the earnings section of the pay advice instead
of as a credit in the deduction section. The various benefit deductions will
remain itemized in the deduction section.

? If you transfer between Enron companies during the year, your year)to-date
totals will carry forward to the new company pay advice. Previously, the
year-to-date totals started over when transferred to another company. This
change will provide your total Enron earnings and deduction amounts on your
pay advice throughout the year.  (Note that your W2 at the end of the year
will reflect your earnings by company).

? For salaried employees, any reported exception time (e.g. vacation, sick
day, etc.) will be reflected on the earnings section with hours only, the
related dollar amount will be included in the +Salary, earnings type.

? For any other information or further explanations regarding your payroll
contact the Payroll Call Center at 713-345-5555

Payroll FAQ,s

My paycheck has a line called &other deductions8, what does that stand for?
There is a fixed amount of lines to print deductions on the paycheck.  For
some employees, the number of deductions are more than we have room to
print.  In this circumstance, the system totals all remaining deductions and
prints them on one line ) titled &other deductions8.  The detail of all
deductions can be viewed on the pay advice that is displayed on the intranet
at eHRonline.enron.com.

What do the earnings or deduction codes on my paycheck mean?
These definitions are listed on the Payroll webpage located at
hrweb.enron.com, select Enron Payroll  from the side index.

Why is my overtime not reflected on my paycheck?
Overtime is paid one pay period in arrears, therefore it will be reflected in
the next pay period. For example, if you reported overtime for the
July 1st )15th pay period, it will be reflected on your July 31st pay advice
as +POvertime,.

What is the limit for Social Security (FICA)?
For year 2000 the limit is $4,724.40 on a wage base of $76,200. This limit is
applied to each Enron payroll tax company. Therefore, if you transfer to
another Enron company these limits will start over, however, the total amount
withheld across all companies will be reflected on your paystub. Excess FICA
will be credited to you by the IRS via your tax return.

What federal income tax rate is used for my bonus or when I exercise stock
options?
There is a standard federal income tax rate of 28% for these earnings. This
can be higher if the employee has completed a Supplemental Tax form
requesting a higher rate (this form can be found at hrweb.enron.com , select
Enron Payroll  from the side index).


Oscar,
 I changed para 2 back to unilateral because there is no way for Enron to
have the information to issue a notice of termination on 11/30/99, only AEC
will be privy to that and in the event they do not issue notice by that date
they should remain bound to the deal. I assume that is the only change you
made to the agreement I drafted last night.  As such I have attached the
modified version for your use with Credit prior to sending same to AEC this
morning.


Brian, we have  a deal we can't identify.  Do you show anything in your
records about purchasing 3,575 dt's on Jan 20th or 21st?  It looks like a 1
day deal and we bought the gas delivered from CGAS of Ohio.  The delivery
point in our system is 23N but that may be wrong.  The price would be
somewhere around $16.00.


FYI. In general everything went ok today Nov 10.

Susan Scott had some problems with some of the excel spreadsheets she's been
running on her machine. The issue here is that the CopyFromRecordset method
of a range object is failing. The simple
fix is to use a user defined function named rsOutput instead of the method.
She also mentioned that a process that outputs a text file to the E: drive
seems to be failing on her machine but is working fine on Dutch Quigley's
machine. She'll provide more detail to support on Monday.

Cheers.

--EdII


----- Forwarded by Elizabeth Sager/HOU/ECT on 05/16/2001 08:47 AM -----

	Carlos Alatorre/ENRON@enronXgate
	05/15/2001 06:24 PM

		 To: Elizabeth Sager/HOU/ECT@ECT
		 cc: Harry Arora/ENRON@enronXgate, Robert Stalford/NA/Enron@Enron
		 Subject: Examples of Power Long Descriptions

Elizabeth:
Below you can find examples of Long Descriptions for Phy Power.
Please let me know if you have any questions/comments
Thanks
Carlos

US Pwr Phy Firm  PJM-W Peak              Jul01           USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the
Seller shall sell and the Buyer shall purchase a quantity of firm energy
equal to the Hourly Quantity at the Contract Price. The Contract Price shall
be as submitted by the Counterparty via the Website.
The term of the Transaction shall correspond to the date(s) set forth in the
Product description on the Website.
The transaction is for delivery or receipt of energy at the PJM Western Hub.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be megawatt-hours
(MWh) and the quantity shown shall be in MW's delivered in each applicable
hour for the duration of the Transaction (the "Hourly Quantity').
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time.  "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.

US Pwr Phy Firm  PJM-W Peak              Jan-Dec03       USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the
Seller shall sell and the Buyer shall purchase a quantity of firm energy
equal to the Hourly Quantity at the Contract Price. The Contract Price shall
be as submitted by the Counterparty via the Website.
The transaction is for the applicable hours as set forth herein on each
Delivery Day for the Effective Date 01 Jan 2003 to the Termination Date 31
Dec 2003.
The transaction is for delivery or receipt of energy at the PJM Western Hub.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be megawatt-hours
(MWh) and the quantity shown shall be in MW's delivered in each applicable
hour for the duration of the Transaction (the "Hourly Quantity').
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time.  "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.

US Pwr Phy Index PJM-W MWD Peak          Jun01           USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the
Seller shall sell and the Buyer shall purchase a quantity for firm energy
equal to the Hourly Quantity at the Contract Price.  The Contract Price shall
be the Floating Price, as adjusted by the price submitted by the Counterparty
via the Website.  The period of time during which the Floating Price is
derived (a "Determination Period") shall be a calendar month during the term
of the Transaction; provided that, if the term of the Transaction is less
than one month, such Determination Period shall be the term of the
Transaction.
The term of the Transaction shall correspond to the date(s) set forth in the
Product description on the Website.
The transaction is for delivery or receipt of energy at the PJM Western Hub.
The Floating Price during a Determination Period shall be the average of the
daily prices listed in the Index for power delivered during Peak hours on
each Delivery Day during the applicable Determination Period.  The Floating
Price for each Determination Period shall be calculated utilizing the daily
prices published in Megawatt Daily's Market Report under the headings "Trades
for Standard 16-Hour Daily Products;Weighted Average Index; PJM-West"  (the
"Index").
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be megawatt-hours
(MWh) and the quantity shown shall be in MW's delivered in each applicable
hour for the duration of the Transaction (the "Hourly Quantity').
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time.  "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.


Today we released additional information about our related party and off-balance sheet transactions.  We have made this information available both on our website and in a Form 8-K filing with the Securities and Exchange Commission (SEC).

The information provides further details about:

	-- the $1.2 billion charge to shareholders' equity announced in the third quarter and the transactions related to that charge;
	-- a restatement of prior years' financial statements to reflect this reduction in shareholders' equity, the consolidation of     three entities and prior year proposed audit adjustments and reclassifications;
	-- the Special Committee appointed by the Enron Board of Directors to review transactions between Enron and related parties;
	-- the LJM limited partnerships, including a discussion of transactions between Enron and LJM entities; and
	-- transactions between Enron and other Enron employees.

This information addresses a number of concerns that have been raised by our shareholders and the SEC.  As our Board's new Special Committee continues its review of various matters, we will continue to cooperate fully with the SEC in its investigation, and we will continue to respond to investor requests so that they can evaluate, appreciate and appropriately value the strength of our core businesses.

Restatement of Earnings

Based on information that we have recently obtained, Enron and its auditors determined that certain off-balance sheet entities should have been included in Enron's consolidated financial statements pursuant to generally accepted accounting principles.  As a result, Enron will restate its financial statements from 1997 to 2000 and for the first and second quarters of 2001.  These restatements have no material effect on Enron's current financial position.  Here are some details included in the filing:

Net income for each period will be impacted by the retroactive consolidation of Joint Energy Development Investments (JEDI) and Chewco beginning in November 1997, the consolidation of an LJM1 subsidiary for 1999 and 2000 and prior year proposed audit adjustments.  Enron's current assessment indicates that the restatement will include:

	-- a reduction of approximately $96 million in 1997
	-- a reduction of approximately $113 million in 1998
	-- a reduction of approximately $250 million in 1999
	-- a reduction of approximately $132 million in 2000
	-- an increase of approximately $17 million for the first quarter of 2001
	-- an increase of approximately $5 million for the second quarter of 2001
	-- a reduction of $17 million for the third quarter of 2001.

The consolidation of JEDI and Chewco also will increase Enron's debt by approximately $711 million in 1997, $561 million in 1998, $685 million in 1999 and $628 million in 2000.

The restatement will have no material impact on Enron's reported earnings for the nine-month period ending September 2001.

You can obtain more detailed information on the items described above by accessing the Form 8-K filing at <http://www.enron.com/corp/sec/>.

We will continue to review our strategic, operational and financial position, and we will continue to keep you updated on any developments.


- energy111901.doc


Mike Driscol
Prebon
I am missing this deal:

Enron sells from Sempra 25 mw of Q2'02 NP-15 peak hrs at $98.00


John,

See below.
---------------------- Forwarded by David Oxley/HOU/ECT on 07/11/2000 10:55
AM ---------------------------
From: Sheila Knudsen@ENRON on 07/11/2000 10:43 AM
To: David Oxley/HOU/ECT@ECT
cc: Jeanette Salinas/HOU/ECT@ECT
Subject: Re: July 5 Grant Awards

David -

Jeannette is out this week.  I confirmed with Corp. Compensation the
following:

July grants were priced on July 5 - grant price of $66.4375

Belden and Swerzbin are each receiving 20,000 options ($400,000 value @ $20
Black-Scholes for 5-year options).

Let me know if you have any other questions.

Sheila

David Oxley@ECT
07/10/2000 08:02 AM
To: Jeanette Salinas/HOU/ECT@ECT
cc: Sheila Knudsen/Corp/Enron@ENRON

Subject: Re: July 5 Grant Awards

Jeannette,

Two things:

1 - I was told comp committe met Friday 7th so I guess I just want to be sure
about July 5 strike price
2 - Belden and Swerzbin had 5 year options what were their scholes and
exactly how many were they granted?

Thanks

David

Jeanette Salinas
07/07/2000 11:52 AM
To: Cindy Skinner/HOU/ECT@ECT, Robert Jones/Corp/Enron@ENRON, Sheila
Walton/HOU/ECT@ECT, Gary Buck/HOU/ECT@ECT, Kim Melodick/HOU/ECT@ECT, Brad
McSherry/HOU/ECT@ECT, Norma Villarreal/HOU/ECT@ECT, Hector
McLoughlin/Corp/Enron@Enron, Teresa Bien/Corp/Enron@Enron, Philip
Conn/Corp/Enron@ENRON, Fran L Mayes/HOU/ECT@ECT, Dawn Doucet/CAL/ECT@ECT,
Ryan Seleznov/Corp/Enron@Enron, Ted C Bland/HOU/ECT@ECT, Edward
Anderson/Corp/Enron@ENRON, Mark Broadfoot/HOU/ECT@ECT, Jennifer
Cronin/Corp/Enron@ENRON, Amanda Curless/Corp/Enron@ENRON, Becky
Quintana/Corp/Enron@ENRON, Jennifer Richard/HOU/ECT@ECT, Debi
Vanwey/HOU/ECT@ECT, Tony Vasut/HOU/ECT@ECT, Chris Williams/HOU/ECT@ECT,
Elspeth Inglis/Corp/Enron@Enron, Valeria A Hope/HOU/ECT@ECT, Jane
Allen/HOU/ECT@ECT, Toni Graham/Corp/Enron@Enron, Shanna
Funkhouser/Corp/Enron@ENRON, Neil Davies/Corp/Enron@ENRON, Chris
Williams/HOU/ECT@ECT, Dave Hill/Corp/Enron@Enron, Amy FitzPatrick/PDX/ECT@ECT
cc: Yvonne Laing/HOU/ECT@ECT, Kari Oquinn/HOU/ECT@ECT, Sheila
Knudsen/Corp/Enron@ENRON, Donna Salazar/Corp/Enron@ENRON, Cynthia
Gonzalez/Corp/Enron@Enron, Janet De La Paz/HR/Corp/Enron@ENRON, Irma
Alvarez/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT, Ramona
Perkins/Corp/Enron@Enron, Cynthia Ramirez/HOU/ECT@ECT, Simone Scott
Walker/Corp/Enron@ENRON, Marlow Anderson/Corp/Enron@Enron, Todd
Burke/NA/Enron@ENRON, Rhonna Palmer/HOU/ECT@ECT
Subject: July 5 Grant Awards

To All:

Per Corporate Compensation, all miscellaneous stock awards (June submission
-July Grant Awards) have been approved with a grant date of July 5.  These
awards were approved at the closing price on July 5 - $66.4375, and at a
Black - Scholes value of $25 for a 7 -  year term and $28 for a 10 - year
term.

The ratio for a 7-year option remains at  .365.  This ratio  will be reviewed
and updated as needed and is subject to change. Please encourage the focus on
the dollar value the equity grant is intened to deliver vs. how many options
will be awarded.  With the volatility of Enron stock, the BSV can change from
time to time, which could effect the number of options awarded.

Regards,
Jeanette

I


Sorry Beatrice,

I sent this to Greg and forgot to send it to you as well.  This is a
preliminary file until I have the official NGI settle prices for Chicago City
Gate and Socal.  Let me know it you have any questions.

Susan

Beatrice Reyna@ENRON
12/04/2000 04:39 PM
To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: Re: Nat Gas Basis Options

Hi Susan,

Would you please forward the current spreadsheet with exotics?

Thanks,
Beatrice


I just spoke to Remi Collonges and he said the deal is dead. He will get back
to us in the remote event of a resurrection.
---------------------- Forwarded by Andrea Bertone/ENRON_DEVELOPMENT on
12/08/99 04:09 PM ---------------------------

Sara Shackleton@ECT
12/07/99 04:36 PM
To: Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Brazil deal

FYI
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 12/07/99 01:36
PM ---------------------------

	Enron North America Corp.

	From:  Patricia Cini                           12/05/99 12:20 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Brazil deal

Sara-

This is a new deal that came up in Brazil, which I need to follow up on.  I
just returned from vacation so, I haven't had the chance to get any details
yet, but wanted to let you know about this transaction.

Regards,

Pat

---------------------- Forwarded by Patricia Cini/HOU/ECT on 12/05/99 12:18
PM ---------------------------

Remi Collonges@ENRON_DEVELOPMENT
11/29/99 06:43 AM
To: Patricia Cini@ECT
cc: D'Arcy Carroll/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joao
Milanez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject:

Pat,

We have submitted a proposal to Petrobras as you will see in the termsheet
attached.  We pay up-front R$1 million to them, and receive for 1 year (minus
a certain amount of days) 6 MW per hour and sell them back up power, up to 10
MW per hour, for a maximum of 37 days.  Please let us know if there is a lot
to do to update the credit review for Petrobras.  We'll find out this week
whether we have won this deal.  I'll keep you posted.

Feel free to call me if you have any further question.

Remi


Reminder..........
   Monday - November 27th
    3:00 pm
   Birthday Cake & Punch
          Outside 3752

Adrial and Julissa - please remind your teams.  Thanks!


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 03/19/2000
06:51 PM ---------------------------

	From:  Mary Ellenberger                           03/16/2000 02:16 PM

To: Ami Chokshi/Corp/Enron@ENRON, Stephanie Sever/HOU/ECT@ECT, Kelli
Stevens/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT, Katherine L
Kelly/HOU/ECT@ECT, cc: Mary Ellenberger/Corp/Enron@ENRON, Nelson
Ferries/Corp/Enron@ENRON
cc:

Subject: Team Room

Please make note of the room change, Monday's Devon pricing (January) meeting
thank you
Mse
---------------------- Forwarded by Mary Ellenberger/Corp/Enron on 03/16/2000
02:13 PM ---------------------------

	Angela Henn @ ECT
	03/16/2000 09:16 AM

To: Mary Ellenberger/Corp/Enron@ENRON
cc:

Subject: Team Room

You asked me to book 3745 for you for Monday the 20th from 1-2 pm.  I had to
bump you out of 3745, but I have
booked 3749 (down from 3745) for you for the same time.

Angela-


Louise Kitchen has requested the following meeting::

Date:		Monday, March 26th

Time:		4:00 p.m. (Houston time)

Location:	EB3308

Topic:		CDWR

Attendees:	Chris Calger-calling in
		Tim Belden-calling in
		Mark Haedicke
		Jim Steffes
		Bill Bradford
		John Lavorato

Please call me with any questions.

Thanks,

Tammie
x34220


Jeff should do Navarro
>---- Original Message ---
>From: Nancy Sellers <Nancy.Sellers@RobertMondavi.com>
>To: Cameron <cameron@perfect.com>, Jeff Dasovich
<Jeff_Dasovich@enron.com>,     "Prentice @ Berkeley"
<PSellers@haas.berkeley.edu>,     Prentice Sellers
<PSellers@pacbell.net>,     Scott Laughlin <scottwl@hotmail.com>
>Cc:
>Subject: Wine tasting
>
>For our wine tasting at the dome, I am assuming that Cameron and Scott will
>want to do Byron Pinot and Byron Chard.  I will probably do RMW.  Jeff and
>PP - do you have any ideas or requests that I could help you with?
>
>
>Nancy
>(707) 251-4870 (phone)
>(707) 265-5446 (fax)
>"Plus je bois, mieux je chante"
>
>
>
>


Is Constellation Energy Source related to Constellation Energy Source?

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


Mary or Lisa,

How does the agreement with EEA work?  Do we pay there a specified amount each month or do they charge per hour?  Please advise.

Thanks,
Mike


With the extension of the PRC to all organizations, questions have arisen
about the results of this process. This memo provides some details about the
PRC process.

First some context:  The key to Enron,s success is the increasing quality and
dedication of our talent.  As we continue to attract and retain the very best
people, we all have continued to raise the performance bar throughout the
organization.  At the core of our system are the following principles:

? Hire the best people.
? Provide challenging opportunities.
? Pay well ( and pay for performance (with bonuses based on merit, not
entitlement).
? Evaluate performance through a rigorous review process.
? Provide clear feedback and direction to employees.

The PRC is a critical component of our performance management system.  The
PRC is built on this foundation:

? 360 degree performance feedback.
? Review by a broad group, not just the supervisor.
? A relative ranking of performance across Enron to determine promotions and
to allocate bonus money.

In addition to understanding this broad philosophy, we all need to understand
the following details:

? Relative ranking.  Enron uses the descriptors &superior8, &excellent8,
&strong8, "satisfactory", &needs improvement8, and &issues8 to group all
employees.  This year, &relative to his/her peers8 precedes each of these
descriptors. This qualifier confirms what we have done and will continue to
do in practice; that is, evaluate individual performers against their peers.
It is possible, therefore, for someone to perform at the same or higher level
compared to prior periods, yet receive a lower rating for the current period
if other employees, performance raised the bar.
? Teamwork.  A relative ranking may invite the view that for one employee to
gain, others must suffer.  However, feedback is explicitly solicited on
teamwork when evaluating each individual,s performance.  Anyone who attempts
to gain by withholding information or refusing to collaborate with others in
the organization will suffer in a relative ranking on this key performance
criterion.
? Preferred distribution. In large part, the quality of our workforce has
been driven by our willingness to make tough decisions. We have consistently
captured business opportunities and overcome obstacles because we have made
the choices that had to be made in order to constantly improve our employee
talent base. The preferred distribution (5% superior, 30% excellent, 30%
strong, 20% satisfactory, and 15% needs improvement or issues) forces PRC
committee members to identify those who must improve in order to remain at
Enron as well as to single out top talent for special recognition. There is
some flexibility in the system, but every organization must ultimately face
this difficult question: have we achieved the highest level of performance or
are there still improvements that must be made? Few, if any, organizations
adhere exactly to the preferred distribution. Rather, they exercise informed
discretion in the individual categories and meet a distribution that reflects
their groups, overall effectiveness and need for improvement.
? Communicating Ratings. Everyone rated &satisfactory8 or below should know
his/her rating. Each organization has determined for itself whether to
communicate ratings of &strong8 and above.  In all cases, employees will
receive feedback about their performance against expectations, areas of
success, and areas that need improvement.

We hope this answers most of your questions about the PRC process.  We would
like your feedback and ideas on how to improve the PRC process going
forward.  Therefore, we will be conducting an eSpeak in the near future, and
there will be other methods we will create to let us know what you think.  In
the meantime, please feel free to consult with your HR Generalist if you have
any immediate questions, comments, or concerns.


Tana/Karen/Kelly:

Credit (Tom Moran) has approved copying the profiles for the following new
product types; US East SPF Lumber Phy, US Newsprint Phy, US OSB Phy, US
Recycled OCC #11 Phy, US SYP Lumber Phy, US West SPF Lumber Phy and US
Recycled ONP #8 Phy from the following:

Pulp Phy Fwd

Please respond by 5 p.m. today, Tuesday, March 27.

Thank you.
Stephanie
---------------------- Forwarded by Stephanie Sever/HOU/ECT on 03/27/2001
03:22 PM ---------------------------

Chris Walker
03/22/2001 05:32 PM
To: Jeff Blumenthal/HOU/ECT, Susan Musch/ENRON_DEVELOPMENT, Bjorn
Hagelmann/HOU/ECT, Mark Taylor/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Tom
Moran/HOU/ECT, Shari Mao/HOU/ECT@ECT, Charlie Hoang/HOU/ECT, Laurie
Lee/NA/Enron
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron,
Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Kevin
Meredith/Corp/Enron@ENRON, Melba Lozano/HOU/ECT@ECT
Subject: EOL PRODUCT TYPE APPROVAL for 7 PHY product types (Clickpaper to EOL
migration)

Please approve the following 7 product types in Datamanager at your earliest
convenience.  The product type descriptions and GTC are attached.

US East SPF Lumber Phy
US Newsprint Phy
US OSB Phy
US Recycled OCC #11 Phy
US SYP Lumber Phy
US West SPF Lumber Phy
US Recycled ONP #8 Phy   changed since last email

STEPS FOR APPROVAL:

click the  START button
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE:  Right mouse click on "Approved"


Dear JOHN H GRIFFITH,

Thank you for your order. We are currently reviewing for completeness and
accuracy.
A separate email with your Dell Order number(s) will be sent to you after the
order is processed.

A recap of your order is provided at the end of this message for your
reference.
We encourage you to verify, print, and retain the information on this page
for your records.

Date Submitted: 1/24/01 4:03:55 PM

If at any time you have questions regarding your order please contact your
Dell Sales Representative:

Name:  EPP Sales
Email: US_EPP_Clickathome@dell.com
Phone: 866-220-3355

Again, thank you for your order. We appreciate you buying from Dell and using
your Dell Premier Pages Service.

Sincerely,
Dell Premier Pages Service

Shopping cart includes 1 unique item(s)
Total Price: $0.00

Item Detail#:1
Dimension L Series (Required)--Dimension® L866r, Pentium® III
Processor at 866 MHz

Memory:                                  128MB SDRAM
Keyboard:                                QuietKey® Keyboard
Monitor:                                 17" (16.0 viewable, .28dp) E770
Monitor
Video Card:                              Intel 3D AGP Graphics
Hard Drive:                              10GB Ultra ATA Hard Drive
Floppy Drive:                            1.44MB Floppy Drive
Operating System:                        NEW Microsoft® Windows®
2000 Professional
Mouse:                                   Logitech First Mouse+ Wheel (PS/2v)
Network Card:                            Integrated Intel&#17410/100 Ethernet
Controller
Modem:                                   V.90/56K PCI DataFax Modem for
Windows
CD/DVD ROM Drive:                        48X Max Variable CD-ROM Drive
Sound Card:                              Soundblaster 64V Integrated
Speakers:                                harman/kardon Speakers
Bundled Software:                        Microsoft® Office 2000 Small
Business
Norton Antivirus&#174 at no additional charge:     Norton Antivirus® 2001
Hardware Support Services:               3Yrs Parts & Labor (Next Business
Day)
Software and Peripherals:                Program Management Services

Single Item Cost: $0.00
Quantity: 1
Sub-Total for Item: $0.00
___________________

** END OF ORDER **


Just wanted to let everyone know that my email address will be changing -
effective May 15, 2000.  my new email address will be :
rena_f_mobley@reliantenergy.com.

I will be out of the office until May 23rd!!!!!!  talk to ya'll soon

love ya!!!!!


----- Forwarded by Richard B Sanders/HOU/ECT on 12/01/2000 04:01 PM -----

	John Enerson
	11/15/2000 02:42 PM

		 To: Lisa King/HOU/ECT@ECT
		 cc: Richard B Sanders/HOU/ECT@ECT
		 Subject: Re: Ice Drilling

Lisa - The attached schedule calculates interest on overdue interest at the
9.9% rate.  This is fine except that I do not know if we are able to charge
interest on overdue interest.  That is Richard Sanders call - Richard, please
let us know.  If we can charge interest on interest, this schedule is fine.
Otherwise, we will have to recalculate using simple interest.

Lisa King
11/15/2000 02:19 PM
To: John Enerson/HOU/ECT@ECT
cc:
Subject: Ice Drilling

John-

Attached is the schedule that we had at Monday's meeting which has been
updated through 10/31/00.   After looking more closely at the schedule and
the way it is calculating interest, it appears that interest is being
compounded.  The estimate that we had used in Monday's meeting was simple
interest for one year calculated on the sum of $1,061,300.90 and $264,452.89
(October 1999 values) which equated to roughly $131,246.65.  However,  based
on the schedule's calculation, I believe the total interest and principal due
is $1,171,585.67.  Please look over this schedule and see if you agree with
my thinking.

Thank you,
Lisa


Dear Vince,

I would like to confirm the invitation for you to participate at our annual
congress in Houston. Following our conversation, I would be most interested
in  including a presentation on 'Modeling price volatility in US power
markets'  in the pricing, hedging & trading stream on the 14th May,  2001.

I am keen to confirm each speaker and session by the end of next week, which
will then allow time to work with each presenter on titles and points that
will  provide an accurate summary for the session.

If you have any overall views or suggestions regarding the conference feel
free to email me at pbristow@riskwaters.com or call me on  212 925 6990,
extn. 225. I look forward to confirming your participation at  Energy & Power
Risk Management 2001. IMPORTANT: Due to system problems I am  using another
system. Please do not reply to this email. Please reply to the  address given
above.

Yours sincerely,

Paul Bristow

Manager of Conferences, USA

Risk Waters Group
 - spktemp2.doc


**For New UBS employees***

I am going to send all of our File Migration compliance forms in one batch, so give them to me when you have signed the Document Migration Certificate. I will be sending this the evening of the 8th.

If you don't know who I am or what this is about, ask Dave Steiner or any of the Admins.

Thanks,

Cara Freeland


----- Forwarded by Richard B Sanders/HOU/ECT on 05/21/2001 08:06 AM -----

	Michael Tribolet/ENRON@enronXgate
	05/21/2001 07:55 AM

		 To: Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Chip
Schneider/ENRON@enronXgate, Lisa Mellencamp/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT
		 cc:
		 Subject: SF Chronicle article

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

Power juggling ramped up price
Insiders say manipulation also strained equipment

Christian Berthelsen, Scott Winokur, Chronicle Staff Writers    Sunday, May
20, 2001

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

Large power companies have driven up electricity prices in California by
throttling their generators up and down to create artificial shortages,
according to dozens of interviews with regulators, lawyers and energy
industry workers.

Those sources say the unusual maneuvers not only jacked up prices but also
wore down equipment and contributed to the record levels of plant shutdowns
that are depriving the state of much-needed electricity. The accounts are
supported by an independent review of shutdown data by The Chronicle.

The California Energy Commission calculates that an average of 14,990
megawatts of generating capacity, nearly a third of the state's total, was
unavailable each day in April because of plant shutdowns, more than four
times as much as a year ago.

Such shutdowns are the subject of increasing scrutiny as California enters
another period of high demand, the warm spring and summer months of May to
September, when electricity usage normally grows by a third.

Loretta Lynch, president of the California Public Utilities Commission, said
last week the agency has found considerable evidence of suspicious plant
shutdowns. And the California Independent System Operator, which manages the
state's power grid, says plant shutdowns have now become the primary means of
constricting supply.

But an extensive investigation by The Chronicle has found that not only were
generators shut down to boost prices but these "gaming" tactics contributed
to the plants' deteriorating condition.

"We suspected it," said Jim MacIntosh, the manager of grid operations for the
ISO. "It was a sure factor in driving up prices." Such swings in unit output,
he said, "would only make sense in a scenario when they're trying to game
something. Otherwise, why would they do that? They're tearing their units
up."

Unusual phone calls

Operators at a San Bernardino County power plant owned by Reliant Energy Inc.
say a complex plan to manipulate the California energy market began early
last year with a series of unusual telephone calls from the company's
headquarters in Houston.

According to the accounts of three plant operators, Reliant's operations
schedulers on the energy trading floor ordered them to repeatedly decrease,
then increase output at the 1,046-megawatt Etiwanda plant. This happened as
many as four or five times an hour. Each time the units were ramped down and
electricity production fell, plant employees watched on a control room
computer screen as spot market energy prices rose. Then came the phone call
to ramp the units back up.

"They would tell us what to do, and we would do it," said one of the men, who
only agreed to speak on condition they not be identified because they fear
being fired. "Afterward, we would just sit there and watch the market
change."

The workers said frequent and large swings in electricity output began at a
number of California power plants just as the state's power crisis began in
earnest. The workers and state power authorities assert the swings were one
of the primary means of gaming the wholesale energy market.

"It appears the control rooms are responsive to direction from the trading
floors in Houston, rather than the reliability needs of the ISO," said Carl
Wood, a commissioner with the utilities commission who is overseeing that
agency's investigation into plant outages. "Instead of being responsive to
demands for reliability, they're responsive to demands for profitability."

Corporate denial

Reliant officials adamantly deny using this tactic or any other mechanism to
game the California energy market. They and other power companies, including
AES Corp. and a partnership between NRG Energy Inc. and Dynegy Inc., have
asserted that skyrocketing electricity demand forced them to run aging,
decrepit power plants harder than ever to meet California's needs.

While acknowledging that the company issued changes in output levels as
frequently as every 10 minutes, company officials said it was done at the
instructions of the ISO to maintain supply-demand balance.

"As a part of routinely doing business within California and the California
market design, we are required to do that," said Kevin Frankeny, an
operations official with Reliant. "When the ISO (issues dispatch orders),
they dispatch on a 10-minute basis. It can go up and down many times within
an hour."

Frankeny said he was not aware of any instances in which Reliant schedulers
in Houston ordered dispatch changes without the ISO directing them to do it
first.

The ISO refused to comment on operations at any specific facility, but
Stephanie McCorkle, an ISO spokeswoman, said the ramping tactics were used
beyond dispatch instructions during periods of tight supply. And one of the
plant operators said the orders to vary output came independently of the grid
managers. "ISO was not calling Reliant every 10 minutes for that," said one
of the operators. "Not for an individual unit."

Officials with the California attorney general's office declined to comment
on the legality of the ramping practice, citing a continuing investigation
into whether wholesale energy prices are being manipulated. One source
familiar with the state of various inquiries said the ramping, if proved to
have been done to drive up prices, could violate the state's unfair business
practices laws.

Invisible practice

How could companies such as Reliant tinker with output and not get caught?

One of the plant workers said the practice was designed to be virtually
invisible to regulators and grid operators.

When power companies bid on hourly contracts, they agree to produce a certain
amount of electricity over the given hour. Generators are paid based on an
average of the spot market prices for that hour. By driving up the spot
price, they can increase their hourly profits and still produce the total
amount of energy required.

The plant worker said the units would be ramped down immediately after their
output measurement, which was performed at the top of each hour by the ISO.
Then, he said, it was brought back up as the spot market price of electricity
rose in response to the reduced output. By the time the ISO measured again,
the output was back at the expected level.

Another operator said the units were not always ramped up and down - that if
the price reached a satisfactory level, generators would raise output and
remain at that level as long as the price was right. Other times, if the
price was low, output was brought down and kept down.

The same operator said the amount of ramping appeared to be a matter of
individual will of the company schedulers in Houston, with some being more
aggressive than others.

"What they would do, especially late at night, is if the price tanked, they
would undergenerate," an operator said. "Then, mysteriously, the price would
go up.

"Then, if the schedule was at 70 (required megawatt hours of output), they'd
say, 'Go up to 90.' That would cause the price to tank. And they'd say,
'Bring it down again.' "

Rapid changes

These fluctuations occurred within time spans of as little as 10 to 15
minutes, the operators said. But acceptable rates for bringing a unit from
minimum to maximum levels when the plant was owned by Southern California
Edison were more like 80 minutes, to avoid stressing the machinery, one of
the workers said. Moreover, they were typically run at constant levels, which
also reduced wear and tear.

"They were basically ramping up as fast as they can, and then slamming the
brakes on," said one of the operators. "They were increasing the fatigue on
the units."

ISO officials say they changed market operations last fall to crack down on
gaming tactics, including instituting a so-called 10-minute market, rather
than the hourly market, so that it could be more easily detected when
companies were withholding power.

But the ISO says generator outages have now become the primary tactic in
driving up energy prices.

A computer analysis by The Chronicle of shutdown data over a recent 39-day
period shows Reliant and three other generating companies topped the list of
plant shutdowns. Reliant also represented the largest amount of wattage lost
among those companies.

Plants owned by Reliant, AES, Mirant Corp. and Duke Energy Inc. accounted for
more than half of the state's unplanned shutdowns, even though their
generating capacity was no more than 25 percent of the state's total capacity
from all sources.

Reliant, one of California's largest and most profitable out-of-state
generators, reported 319 shutdowns during the period in March and April. It
was followed by Mirant Corp. of Atlanta (310), AES Corp. of Arlington, Va.
(278) and Duke Energy North America of Charlotte, N.C. (261).

Reliant's unplanned shutdowns deprived the system of more than 53,000
megawatts over the 40-day period, an average of 1,368 per day - enough power
for 1.4 million homes for one hour.

Its Ormond Beach plant in Oxnard, with one generating unit down for 26 days,

accounted for more than 30,000 of those missed megawatts. However, an
operator who worked in that plant said the outages there appeared to be the
result of legitimate equipment failures.

Reliant says there are valid reasons for its plants now to be in need of
repair. They are old: At 48, Etiwanda is the oldest of Reliant's five
California plants. And the company says routine maintenance was deferred so
the plants could remain in service during times of high summer demand.

But the operators said the issue is not so clear-cut. One problem at
Etiwanda, a tube leak, had been present for about a month and was previously
reported to management, they said, but it had not deteriorated much, it was
operating at full capacity and there was no immediate need to take the unit
offline because of the problem.

Moreover, at the time of the shutdown, the ISO had expressly asked Reliant to
keep the unit online, the operators said. Richard Wheatley, a spokesman for
Reliant, denied that any Reliant unit was taken offline for unnecessary
maintenance.

Ramping may be rampant

Sources say Reliant was not alone in using the ramping practice. A source
familiar with the state utilities commission investigation said output logs
obtained from AES' Alamitos plant also reflected production fluctuations. And
an operator who has worked at the El Segundo plant co-owned by NRG and Dynegy
said the practice was used there, although less frequently. The scheduling
calls came from Dynegy's trading floor in Houston, rather than NRG in
Minneapolis, he said.

Steve Stengel, a spokesman for Dynegy, said changes in output at El Segundo
were a normal function of changing demand levels throughout the day, and
denied the company was engaged in gaming the California market.

In a May 2000 report, the California Energy Commission cited Reliant's
Etiwanda plant, as well as the Alamitos and El Segundo plants, as some of the
"major beneficiaries of high real-time prices" that spring.

One way to obtain those high prices, the plant workers said, was the simple
method of demanding a sky-high price and refusing to deliver power if that
price was not met.

On one occasion, one operator said, Reliant ordered a unit at Etiwanda to be
shut off because the ISO would not meet the price of $1,000 per megawatt
hour, even though the legal price cap at the time was $750.

"The operator said, 'It's our unit, shut it off,' " the source said.

E-mail Christian Berthelsen at cberthelsen@sfchronicle.com and Scott Winokur
at swinokur@sfchronicle.com.


I'm not sure what's going on with these options, but I entered them as 2 PM
expiry, then got a message that they were 2 AM from Stephanie Piwetz this
morning, changed them AGAIN, and now they're back to 2 AM. I've changed them
again, but I honestly have no idea why they keep going back. Please let me
know if you see the expiry as 2 PM now.

Thanks,
Kate

Evelyn Metoyer@ENRON
05/01/2001 12:02 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: option date - 597086

deal 597086
can you please ch the time to 2:00 p.m. not 2:00 a.m. for the exercise time.

Thanks


Cara,

I ran all the reports for you through June.  However, I kept having a problem with March.  You may want to run that one again to make sure that it looks alright.

Regards,

Bert


Tom -

Attached are revised and clean versions of the Beta Agreement for Coral.  I
placed a call to Coral to confirm that I have the proper entity listed, but
have not yet heard from Ms. Reynaud.

Also, in making the revisions, you will note that I have kept the concept of
the Electronic Agreements.  This has been retained so that it is clear, as
stated in Paragraph 1 (to which Coral had no objections), that any use of a
production version of the system will be subject to "Electronic Agreements."
The BETA does not tie to these documents anymore, which is the point I
believe Coral had.

Please take a look over the attached.  If you should have any questions or
need anything further, please let me know.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


----- Forwarded by Tana Jones/HOU/ECT on 05/03/2000 02:01 PM -----

	"Bolan, Kathy" <kathy.bolan@et.pge.com>
	05/02/2000 03:23 PM

		 To: "'tana.jones@enron.com'" <tana.jones@enron.com>
		 cc:
		 Subject: Transaction information

here's a copy of the deal information.  I left a message with Bob Bowen as
the deal he added appears to be an Enron Canada deal.  The Enron
confirmation that was executed stated the counterparty as Enron Canada.  Our
lawyer is looking at the Assignment agrement.

 <<transact.doc>>

Kathy Bolan
Contracts Manager
PG&E Energy Trading, Canada Corporation
Phone: (403)261-3379  Fax: (403)262-8867
E-mail:  kathy.bolan@et.pge.com

PG&E Energy Trading and any other company referenced herein which uses the
PG&E name or logo are not the same company as Pacific Gas and Electric
Company, the California utility.  These companies are not regulated by the
California Public Utilities Commission, and customers do not have to buy
products from these companies in order to continue to receive quality
regulated services from the utility.
 - transact.doc


we have been playing phone tag.  i will call her today.  i am still planning
on taking her out tonight.


I responded to Mike by phone.
Received: from nahou-ln9.corp.enron.com (outbound5.enron.com [192.152.140.9])
by tfsgateway.andrews-kurth.com; Wed, 27 Sep 2000 10:48:28 -0500
Subject: Online Trading Sites
To: "JASON PETERS" <PETEJ@andrews-kurth.com>
Cc: Sara.Shackleton@enron.com
Bcc:
From: Mike.Fowler@enron.com
Date: Wed, 27 Sep 2000 10:44:06 -0500
Message-ID: <OFA0DC1036.D0F902EC-ON86256967.0053DFA4@corp.enron.com>
X-Priority: 3 (Normal)
X-MIMETrack: Serialize by Router on NAHOU-LN9/Enron(Release 5.0.1 (Intl)|16
July 1999) at 09/27/2000 10:44:13 AM
MIME-Version: 1.0
Content-type: text/plain; charset=us-ascii

I continue to be asked daily by our trading group as to the status of the
online trading sites.  Therefore, any updates you can provide regarding the
agreements would be appreciated.

Buy Side Direct:

   Have you provided Mike Minnich with a revised marked-up copy of the
   Agreement for Prime Brokerage Clearing Services which incorporates my
   suggested changes ?  Could I get a copy ?

   Has Sara developed a framework regarding notification (i.e. who, how,
   lead time ?) which she will propose for all 3 sites ?

   Are you and Sara comfortable with Mike Minnich's 9/21 proposal regarding
   jurisdiction ?

   Per Mike's 9/21 email, he wanted to discuss the issue of consequential
   damages.  Has this issue been resolved ?

Trading Edge:

   Are you encountering resistance regarding any issues you and Dan Brooks
   have been discussing ?

LIMITrader:

   Have you been able to email the electronic version of agreements back to
   Jim Kopley with our comments ?  If so, could I get a copy ?

   I just learned from our sales person, Doug Ford, that Jim Kopley may no
   longer be the appropriate contact with LIMITrader.  I will email you
   additional information when I hear back from Doug.

Regarding Trading Edge and LIMITrader, do you know if we will be required
to execute an Agreement for Prime Brokerage Clearing Services ?  If so, I
assume we will propose the modified version that we will execute with Buy
Side Direct.

Any feedback on these comments, and any estimate you can provide in terms
of when we'll be done with these 3 sites would be appreciated.

Please let me know if you would like to discuss, or if I can assist with
any issues.

Thanks.

Mike
713-853-9990


Here's a list of power counterparties that we have either traded with or are
trading with.  You may want to delete the entities that are east only.


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 >>


Joe,

Any interest in speaking?

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/17/2000
04:01 PM ---------------------------

Britta Bothe <brittab@infocastinc.com> on 10/17/2000 12:38:33 PM
To: vkamins@enron.com
cc:
Subject: Invitation to speak at Infocast's Managing Summer Price Volatilit y
Conference in Houston

Dear Ms. Kaminsky:
As I just mentioned on your voicemail, Infocast is going to host a  Managing
Summer Price Volatility course, January 30 - February 1, 2001 in Houston.
The course will focus on the various tools at hand to manage summer price
and load volatility.  Our target audience for this event will primarily be
risk managers and managers in bulk power sales & purchase (our secondary
target audience is energy traders).

Attached you will find a draft program agenda for your review.  Please let
me know if you or someone else at Enron is interested in presenting at this
event.  In particular, we are looking for someone to talk about weather
derivatives.

I appreciate you taking the time to review the conference schedule and I
hope that I will have an opportunity to talk to you. Unfortunately, I am
running behind schedule in finalizing this program.  I will call tomorrow to
see what your feedback is.  If you have any questions or suggestions, please
do not hesitate to contact me at (818) 888-4445 ext. 30.

Sincerely,

Britta Bothe
Infocast
Conference Manager
(818) 888-4445 ext. 30
      <<Agenda 5.doc>>

 - Agenda 5.doc


Hi Donnis,

I hope your thanksgiving was good.  I'd like to make some progress on your loan with me.  I'd be happy to take $11,500 worth of land now, or you can start repaying me right away until you sell the land.  In any event, I am looking for full repayment of some sort by December 31, 2001.

I know you are trying to get this all worked out, but I need to be treated fairly as well.

Regards,

Jeff


Rob,

I know we have visited before on this product, but now I would like to go
ahead up.  I need to set up a Gas Daily Index product priced off of IF Katy.
The short name would be IF GD/D Katy.

Thanks,

Eric
x3-0977


FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/10/2000
03:17 PM ---------------------------

Monika McKay@ENRON
07/10/2000 02:32 PM
To: Chris Williams/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT, George
Hopley/HOU/ECT@ect, Vince J Kaminski/HOU/ECT@ECT
cc: Angie Collins/HOU/ECT@ECT
Subject: Interview Schedule for Greg Mikkelson

Attached please find the interview packet for the above-referenced person.
The interview will happen Tuesday, July 11, 2000.  Print all three documents
for your hard copies.  If you have any questions, or conflicts of schedule,
please do not hesitate to contact me.

Liz Alvarado
58983


---------------------- Forwarded by Randall L Gay/HOU/ECT on 03/29/2000 06:13
AM ---------------------------

"Vanessa Wilson" <VWILSON@skadden.com> on 03/28/2000 04:36:15 PM
To: rgay@enron.com
cc: robtaylor@andrews-kurth.com, Brett_R_Wiggs@enron.com,
john.novak@enron.com, roseann.engeldorf@enron.com, MTHURBER@mail5.allegro.net
Subject: GE Letter Agreement

Rob,

Attached please find the current draft of the Letter Agreement (32581.7),
including Attachment 8 (32573.7) which sets forth various provisions to be
included in the Purchase Agreement.  Article 20 regarding indemnification is
included in Attachment 8.

As we discussed, West LB has some concerns regarding including language in
Article 20 which GEII requested by which West LB would indemnify GEII for
Enron's acts (in its capacity as Agent).  West LB has suggested they would be
willing to undertake this obligation if they are reimbursed by Enron through
the Acquisition and Development Agreement.  Today, for the first time, West
LB indicated that they may require a cap on this liability for Agent's acts
in the Purchase Agreement.

GEII has requested that West LB undertake this obligation and Enron has
agreed to pursue it with West LB.  In light of this, the language which would
establish West LB's indemnity obligation for the Agent's acts is not included
in the current draft of Attachment 8.

Please let me know how you would like to proceed.  As I mentioned, we are
trying to finalize the Letter Agreement with GEII very shortly.  I apologize
for any confusion and look forward to working with you on this matter.  If
you have any questions or would like to discuss this matter further, please
feel free to contact me at 713-655-5102.

Thanks,
Vanessa.

------------------------------------------------------
This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
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 - 32581_7.doc
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 - 32614_2.xls


PBS's Frontline to Air First Television Investigation of California Energy
Crisis
PR Newswire, 06/01/01

Energy wholesalers on PG&E committee accused of conflict
Associated Press Newswires, 06/01/01

CANADA: Delays could unplug Enron's Ontario power plans.
Reuters English News Service, 06/01/01

USA: NewPower sees savings from smart energy technology.
Reuters English News Service, 06/01/01

Amer Elec Power Completes Houston Pipe Line Buy >AEP ENE
Dow Jones News Service, 06/01/01

California Lawmakers Weigh Plan to Let Business Shoulder Burden of Utility
Rescue
Dow Jones Business News, 06/01/01

Williams CEO fears bankruptcies in California
Associated Press Newswires, 06/01/01

Saudi Gas Ventures May Offer Promise, Small Returns (Update1)
Bloomberg, 06/01/01

PBS's Frontline to Air First Television Investigation of California Energy
Crisis

06/01/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)

'Blackout' is a FRONTLINE co-production with The New York Times
BOSTON, June 1 /PRNewswire/ -- FRONTLINE and The New York Times join forces
to investigate the story behind the California energy crisis in "Blackout," a
new documentary airing Tuesday, June 5, at 10 P.M. on PBS (check local
listings). Through interviews with utility executives, industry insiders, and
state and federal officials, the one-hour documentary examines how profits of
both power companies and energy-trading giants have soared amid a
deregulation process that has produced blackouts and rate hikes for
consumers. The program also explores why the federal government refused for
months to intervene in the California crisis, as well as the rationale for
dismantling the old system of utility regulation.
"Blackout" examines the importance of a new kind of megacorporation: giant,
national holding companies that trade electricity and gas much like any other
commodity. With names like Enron, Dynegy, Reliant, and El Paso -- and with
close ties to high-ranking Republican and Democratic officials -- these
energy traders have seen their profits explode in recent years even as
consumers endured power shortages and rate hikes.
FRONTLINE and The New York Times interview key figures on both sides of the
energy debate, including Vice President Dick Cheney, California Governor Gray
Davis, Enron CEO Jeff Skilling, and Curt Hebert, chairman of the Federal
Energy Regulatory Commission (FERC). State utility executives and citizens'
advocates, who charge that California's deregulation fell prey to market
manipulation, are also interviewed.
Following the broadcast, viewers can learn more about the energy crisis by
logging on to FRONTLINE's companion "Blackout" Web site --
http://www.pbs.org/frontline/shows/blackout. In addition to articles and in-
depth interviews on the power crunch, the site will feature graphs and
timelines illustrating the origins of the California crisis, America's
historical and projected power usage, and the profits of the major power
companies and energy-trading giants. The site also will offer an analysis of
the Bush administration's energy plan.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X68531669

/CONTACT: Erin Martin Kane of FRONTLINE, 617-300-3500,
erin_martin_kane@wgbh.org; or Diane McNulty of The New York Times,
212-556-5244 mcnuldc@nytimes.com/ 12:40 EDT

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

Energy wholesalers on PG&E committee accused of conflict
By KAREN GAUDETTE
Associated Press Writer

06/01/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SAN FRANCISCO (AP) - Two of the same energy wholesalers accused of driving
Pacific Gas and Electric Co. into bankruptcy with high power prices asked a
federal bankruptcy judge Friday to let them keep selling electricity to the
utility.
Critics say that could result in higher bills for ratepayers and less money
for the rest of PG&E's creditors to share, if the wholesalers' high prices
keep whittling away at the utility's remaining money.
"We certainly don't believe they should get a safe harbor order so that they
can do what they've done in the past," said Irving Sulmeyer, an attorney
representing the city and county of San Francisco.
Houston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have
denied gouging Californians on the price they pay for power.
On Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to
let them keep selling electricity to PG&E's customers via the state
Department of Water Resources, which has bought electricity on PG&E's behalf
since January.
Dynegy and Enron sit on the 11-member creditors committee that will play a
huge role in how PG&E's fortunes are divided among the more than 50,000
banks, energy companies and cities to whom the utility owes money.
The "safe harbor" would shield them from conflict of interest accusations.
The committee members would be honor-bound not to share information with any
branches of their companies able to profit from it.
"They want to be absolved in advance," Sulmeyer said. "What are they so
concerned about if they're not doing anything wrong?"
Robert Moore, an attorney representing the voluntary creditors committee,
said other committee members such as Bank of America and Merrill Lynch also
are requesting safe harbors so they can continue trading stock and remain
members.
"At least four members of the committee would have to resign without it,"
Moore told the judge.
Montali asked each committee member to file a declaration with the court
requesting to trade either commodities (electricity) or securities (stock),
and scheduled another hearing on the issue for June 12.
---
http://www.pge.com
http://www.canb.uscourts.gov

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

CANADA: Delays could unplug Enron's Ontario power plans.
By Scott Anderson

06/01/2001
Reuters English News Service
(C) Reuters Limited 2001.

TORONTO, June 1 (Reuters) - A planned C$200 million ($130 million) power
plant for southwestern Ontario may be in jeopardy if the provincial
government continues to drag its feet on deregulating the province's
electricity market, the head of Enron Corp.'s Canadian unit said on Friday.
Enron, the Texas-based energy firm, is slated to build the 400-megawatt Moore
project near Sarnia, Ontario. But construction of the plant is contingent on
the government's date for opening the market to competition and time may be
running out, Ron Milnthorp, president of Enron Canada, told Reuters in a
telephone interview from Calgary.
"I think we are really looking for a fall date as an optimum time for us to
align our interests with Ontario," Milnthorp said.
"If it's put off until spring, I do believe that the project is somewhat in
jeopardy and would need to be assessed from an operational standpoint against
all other opportunities that Enron has on its plate."
Ontario said in April that deregulation would be brought into effect by the
late spring of 2002, but was accused of raising market uncertainty by not
setting a specific target date.
The government may have a better idea of its timetable in September, after a
key study by the Independent Electricity Market Operator (IMO) and the
Ontario Energy Board (OEB) is finalized. The two have set up a joint task
force to prepare for an open the wholesale and retail electricity market.
Milnthorp said Enron still holds out hope the province will give a target
date soon after the September study is released.
"The problem is date certainty. The way things are structured, they have a
conditional announcement," he said. "We would really like to have a date so
that we can start investing further capital in that project."
Although Milnthorp said Enron is "still committed to Ontario," he said the
company will not invest any further until there is greater certainty.
"We're on hold at this point," he said. "You can't conditionally invest
capital. Capital investment is unconditional and we're looking for a date
that is unconditional also, and I think that is consistent with Enron and
other outside investors who are going to have the same opinion."
The company needs about six to 12 months to build the new plant, he said. The
turbines and most of the required permits are already in place.
Ontario, Canada's most populous province, has already pushed back its
original deregulation deadline of November 2000 by one year to try to avoid
the kind of problems encountered in California and to a lesser extent in
Alberta.
California's electricity deregulation has been plagued by skyrocketing costs,
bankruptcy and rolling blackouts as power demand has increased dramatically,
while little new generating capacity has been added in the past 10 years.
In Alberta, consumers have been hit with a series of cost increases as the
province deregulates its power sector.
Enron officials say Ontario should not be viewed in the same light as
California or Alberta. While California's concerns are purely one of supply
and demand, Ontario already has adequate generating facilities to fuel the
needs of the province.
"There are significant differences between Ontario and California and there
is absolutely no expectation that the scenario that is unfolding in
California now will unfold in Ontario," said Aleck Dadson, senior director of
governmental affairs at Enron.
($1=$1.53 Canadian).

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

USA: NewPower sees savings from smart energy technology.

06/01/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, June 1 (Reuters) - NewPower Holdings Inc. said it will conduct
three pilot programs in Philadelphia to test consumers' reaction to "smart"
energy saving technology.
With the restructuring of the electricity industry, energy companies expect
to offer customers new products and services designed to save money and
conserve energy.
These new products, however, require "smart" meters that tell "smart" device
to operate when the cost of generating electricity is cheapest.
Some of these "smart" meters and devices are now available to large
commercial and industrial consumers but, for the most part, are either too
expensive or in the development stage for the average homeowner, pending
testing in pilot programs like the NewPower program.
"Energy restructuring leads to technological innovation, efficiency and
environmental benefits," said H. Eugene Lockhart, The New Power Co.'s
president and chief executive officer.
Almost all utilities still sell power to residential customers at flat rates
throughout the day regardless of what that power costs in the wholesale
market.
"These pilots are a wonderful example of control being shifted from the
utility to the consumer. The nation's move to energy restructuring makes it
possible for consumers to better manage their energy needs," Lockhart said.
THE PILOT PROGRAMS
The three pilots consisting of 100 households each will include: a
time-of-use metering pilot; an HVAC (heating, ventilation and air
conditioning) load control pilot, and an interactive pilot allowing consumers
to remotely access their thermostat from any Internet-enabled device.
New Power said it will install meters in consumers homes in the time-of-use
metering program. the meters record daily energy use and will enable NewPower
to better understand typical energy consumption patterns.
In the HVAC load control pilot, NewPower will install air conditioning
programmable thermostats in 100 homes to gauge customers' reaction to having
NewPower remotely alter their thermostat setting by 2 to 6 degrees to help
the homeowner better manage their energy usage and costs.
In the remote energy management system pilot, consumers can change their
thermostat setting from any Internet-accessible device. However, unlike the
HVAC load control pilot, NewPower said the customer always remains in control
and may override the adjustment at any time from the Web or a wireless
device.
The pilot programs will run from early June to the end of September - the
peak season for energy consumption when air conditioning pushes electric
demand to annual peaks.
NewPower Holdings, based in Purchase, N.Y., through its subsidiary The New
Power Co., is the first national provider of electricity and natural gas to
residential and small commercial customers in the U.S.
- Scott DiSavino, New York Power Desk, +646-223-6072, fax +646-223-6079,
e-mail scott.disavino@reuters.com.

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

Amer Elec Power Completes Houston Pipe Line Buy >AEP ENE

06/01/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

COLUMBUS, Ohio -(Dow Jones)- American Electric Power Co. (AEP) completed the
purchase of Houston Pipe Line Co. from Enron Corp. (ENE) for $726.6 million.
In a press release Friday, American Electric said it will raise the money for
the acquisition by issuing a noncontrolling, preferred equity stake to
private investors.
The acquisition included Houston Pipe Line's inventory and a 30-year pre-paid
lease for the Bammel storage facility. American Power now has daily gas
capacity of about 3.2 billion cubic feet and more than 6,400 miles of natural
gas pipeline across Louisiana and Texas.
New York Stock Exchange-listed shares of American Electric closed Friday at
$49, down $1.20, or 2.4%, on composite volume of 1 million shares, about 12%
higher than average daily volume.
Company Web site: http://www.aep.com
-Pamela Tate; Dow Jones Newswires; 201-938-5400

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

California Lawmakers Weigh Plan to Let Business Shoulder Burden of Utility
Rescue
By Jason Leopold

06/01/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Dow Jones Newswires
LOS ANGELES -- Lawmakers in California are mulling yet another set of ideas
for rescuing embattled utility Southern California Edison, and this time
businesses would be on the hook.
In an attempt to deflect charges of a bailout that have thus far stymied
efforts to restore the Edison International (EIX) unit to solvency,
legislators are now considering ways to shift the burden of financing the
rescue from residential ratepayers to the state's largest businesses, aides
to key state lawmakers said this week.
The ideas being worked over by Senate President Pro Tem John Burton, Assembly
Speaker Robert Hertzberg and Assemblyman Fred Keeley have yet to take shape
as formal proposals. But an aide to Mr. Burton said some key lawmakers are so
"desperate" to keep Southern California Edison from following PG&E Corp.
(PCG) unit Pacific Gas & Electric Co. into a bankruptcy filing that they are
willing to consider anything that will take residential consumers out of the
equation.
"The idea is that the large industrial customers are the ones who pushed for
deregulation in the first place, so they should be responsible for bailing
out Edison," the aide said. "We're looking to take the burden off of
residential ratepayers."
The premise of a plan discussed by lawmakers Thursday is to designate
Southern California Edison's largest commercial ratepayers as non-core
customers. Those customers -- some 3,600 users of more than 500
kilowatt-hours a month -- would be responsible for financing the cost of
power the utility must purchase or have purchased for it in the wholesale
market. The non-core customers would also help the utility recoup most of its
$5.5 billion in unrecovered power costs through a surcharge on their bills.
Core residential customers would be protected from the wholesale power market
as the primary beneficiaries of the low-cost power the utilities generate
themselves or have locked up in long-term contracts.
The core/non-core proposal is one of several being discussed by lawmakers as
alternatives to a memorandum of understanding California Gray Davis struck
with Edison in April. The pact -- which doesn't vary much from an agreement
in principle reached in February - - has been called dead on arrival by some
lawmakers, who have been mulling various alternatives rather than moving the
agreement forward.
Dominic DiMare, a lobbyist with the California Chamber of Commerce, said the
chamber has told the Davis administration that shifting the burden of the
Southern California Edison bailout to businesses is "a very bad idea" that
could cost the state billions of dollars in economic activity.
"This (plan) would really screw businesses," Mr. DiMare said. "We just got
hit with a 50 to 90% rate increase. We're dangerously close to losing our
businesses to other states."
Separately, Enron Corp. (ENE) has been lobbying lawmakers for several weeks
to win approval to sign power-supply contracts with Southern California
Edison's largest commercial customers, leaving the utility to serve just its
residential customers and small businesses, aides to Gov. Gray Davis, Mr.
Burton and Mr. Hertzberg said.
An Enron executive confirmed that the company sent a four-page proposal to
Hertzberg proposing that Southern California Edison's large industrial
customers sign so-called direct-access contracts with Enron. Enron also has
recently made a presentation about direct access to some members of the
California Chamber of Commerce.
Under the proposal, heavy users would be required to contract directly with
companies like Enron for their power.
Direct access was a key part of the state's 1996 deregulation plan, but was
scrapped early this year when the state started buying wholesale power in
place of the utilities.
Write to Jason Leopold at jason.leopold@dowjones.com
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Williams CEO fears bankruptcies in California

06/01/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

TULSA, Okla. (AP) - Allegations of price fixing are locking energy suppliers
out of efforts to solve California's power squeeze, the head of a Tulsa-based
energy provider says.
"We have been demonized to the point that we are not a credible voice
politically," said Keith Bailey, chairman, president and chief executive
officer of Williams.
California energy regulators say they are close to finishing probes into
whether electricity wholesalers illegally manipulated the power market,
driving up prices.
The Federal Energy Regulatory Commission earlier this year alleged that
Williams profited from the closure of two Southern California power plants
owned by a business partner, Arlington, Va.-based AES Corp.
Williams admitted no wrongdoing but refunded $8 million to settle the
charges.
California's inv-estigations are examining the conduct of Williams, as well
as that of other wholesalers, including Houston-based Enron Corp., Dynegy
Inc., and Reliant Energy, Charlotte, N.C.-based Duke Energy and Atlanta-based
Mirant Corp.
Bailey said California owes Williams more than $600 million for electricity
sold to the state.
He said California lawmakers must act soon if they want to keep the state's
struggling electric utilities from going bankrupt. Bailey said the matter
could be assigned to a bankruptcy judge if lawmakers fail to establish a plan
to restore the financial health of those utilities.
Williams supports short-term price controls to get the utilities back on
track. The company also supports Gov. Gray Davis' efforts to pass legislation
that would help Southern California Edison, the state's second-largest power
provider, pay its debts.
California's largest utility, Pacific Gas & Electric, rejected a similar deal
and filed for bankruptcy protection.

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

Saudi Gas Ventures May Offer Promise, Small Returns (Update1)
2001-06-01 14:26 (New York)

Saudi Gas Ventures May Offer Promise, Small Returns (Update1)

     (Updates first, second paragraphs to reflect that Enron quit
the project. Adds quote in 18th paragraph.)

     London, June 1 (Bloomberg) -- Exxon Mobil Corp., BP Plc,
Royal Dutch/Shell Group and four other energy companies are set to
spend $25 billion on Saudi Arabian natural gas ventures that some
analysts say may barely meet managements' profit targets.
     Along with Total Fina Elf SA, Conoco Inc., Phillips Petroleum
Co. and Occidental Petroleum Corp., the partners are scheduled to
sign agreements this weekend for the three projects. Their annual
return on investment may at best be 15 percent, a level some
companies call the minimum to justify spending, analysts said.
     ``Fifteen percent might be a limit,'' said Jon Wright, an
analyst at Merrill Lynch & Co. ``But maybe they are taking the
view that, `We need to be here, we have to be here and it's a
major, important area.'''
     Flush with cash -- Exxon, Shell and BP alone posted net
income of $41.5 billion last year -- oil companies are seeking the
best ways to meet annual growth in energy demand while maximizing
profits. Saudi Arabia has said those who help now will likely get
first crack at the nation's oil fields, the world's largest,
should they open to foreigners.
     Executives from the seven partners are scheduled to sign the
agreements Sunday in the Red Sea coast city of Jeddah, ending
years of talks and marking the return of Western oil companies to
the kingdom for the first time in two decades. Financial terms of
the ventures are to be negotiated later this year.
     ``It's unlikely to contribute to the bottom line in the short
term,'' said Roger Richards, who helps manage more than 3 billion
pounds ($4.26 billion) in the U.K. for Prudential Bache Ltd.
clients. Still, ``it's important to the majors to be in such an
important gas province when it's potentially the door to getting
back into Saudi oil.''

                           Further Talks

     Development of gas fields to fuel power plants and water
desalination factories is part of Saudi Arabia's plan to convert
its power industry from running on oil to gas. The nation wants to
free more crude oil for export and provide jobs for the estimated
15 percent of the population who are unemployed.
     Many analysts said the return on investment will barely match
the companies' targets -- in Shell's case, 15 percent return based
on oil prices at less than half of today's levels.
     U.S. brokerage Fahnestock & Co. estimates returns from the
Saudi projects at 10 percent to 15 percent. Deep-water oil and gas
drilling can pay back 40 percent a year, said J.J. Traynor, an
analyst at Deutsche Bank AG in Edinburgh, Scotland.
     ``The line in the sand for the major oils is a 15 percent
return -- they won't go below that,'' Traynor said. ``In the long
term, maybe oil becomes available. That's 10 or 20 years away, but
you have to be there now.''
     Lee Raymond, Exxon's chairman and chief executive, has said
he expects returns from the Saudi ventures in the ``mid to high
teens.'' That's lower than the 20.6 percent return on capital
Exxon posted last year and rival BP's 23 percent return, when
adjusted for special items.

                         Little Risk

     The benefits of going into Saudi are twofold, analysts said.
Firstly, the winners will have a lead should the country open
access to its crude oil reserves.
     Secondly, the projects carry little risk compared to
exploratory drilling that can cost millions for nothing more than
a hole in the ground. Much of the Saudi reserves are already
mapped, and the government understands it needs Western capital
and expertise.
     ``It's in the Saudis' interests to get Western oil companies
involved again,'' said Will Claxton-Smith, director of U.K.
equities at Clerical Medical Investment Group Ltd., which owns BP
and Shell shares. ``You wouldn't want them to be left out.''
     The kingdom has not yet named the leaders of the $17 billion
South Ghawar gas project, the centerpiece of its plan, or the $4
billion Shaybah field.
     Companies selected for these two developments include Exxon,
Shell, BP, Phillips, Conoco and Total. Saudi Arabia picked Exxon
to lead the estimated $4 billion Red Sea gas development project,
with Occidental and Enron Corp. as junior partners.

                            Enron Quits

     Enron today withdrew from the venture, leaving partner
Occidental to absorb its role, Enron spokesman Alex Parsons said.
He declined to say why Enron pulled out. The company has been
moving away from large infrastructure projects to focus on trading
natural gas, electricity and other commodities.
     ``If we have a continued association with this project, it
will be to provide services under a separate contract directly
with Occidental,'' Parsons said.
     Once the ink dries this weekend, financial negotiations
between the kingdom and the companies should take months, analysts
said.
     ``The companies are keen to get their foot through the door
but they're not going to throw shareholders' money away,'' said
Leo Drollas, deputy executive director of the Centre for Global
Energy Studies, which was founded by former Saudi oil minister
Sheikh Zaki Yamani. ``They are not philanthropic institutions. If
they're not happy, they won't do it.''


Hello lcampbel@enron.com,

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Please review and give your thoughts to me and Randy.   Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 01/04/2001 06:43 PM -----

	Randal Maffett
	01/04/2001 01:13 PM

		 To: David W Delainey/HOU/ECT@ECT
		 cc: Mark E Haedicke/HOU/ECT@ECT
		 Subject: Fidelity update

Last week during the holidays, we made a lot of progress w/ Fidelity
regarding their "take-out" from the Partnership at Dallas.  We exchanged 2
drafts of a Letter Agreement which says ENA (or an affiliate) will buy their
99% LP interest in Landfill Gas Investments, LP (LGI) on or before Jan 31,
2001.  Included in our draft was a provision whereby the ENE Guaranty would
be extinguished.  However, late yesterday Fidelity came back and said they're
not willing to extinguish the Guaranty completely.  The way the deal w/
Fidelity will be structured, ENA will pay them the delta between the $5.2MM
initial payment they made less the accrued tax credits on the date we close
(est to be $300K+/-).  Fidelity wants 2 things:

protection in the event the IRS disallows/disqualifies the tax credits
accrued (i.e., the $300K), and
protection against any environmental claims that may have occurred while they
were a partner in LGI (June, 200 thru Jan, 2001).

There are 2 basic alternatives to consider:

replace the existing guaranty to LGI with a new guaranty to Fidelity with a
specific cap on the tax credit amount ($300K+/-) and with the same
environmental coverage (up to $5MM) as currently exists but restricting it to
issues which occurred while they were a partner.  The probability of either
ever being triggered is extremely remote.  Replacing the benefactor from LGI
to Fidelity is significant for us because it eliminates future environmental
exposure related to LGI as well as prevents potential future buyers of our LP
interest from seeing that ENE once was willing to issue such a guaranty.
replace the existing guaranty with an indemnity from ENA which provides
Fidelity with the same protection as alternative #1.  Per ENA accounting
since the amount of exposure is limited to $5.3MM in aggregate, this would
not be significant/material enough to be separately identified as a balance
sheet item.

The problem we have is Fidelity has a Guaranty "in hand" and unless you give
me approval to go back and structure our deal around them, we don't have any
leverage to get them to release it.  They are willing to work with us on
either of the 2 alternatives listed above.  This is the only remaining
commercial issue left w/ Fidelity.

Please advise or call to discuss further.  Ext. 33212.  Thanks!

RANDY


---------------------- Forwarded by Rob G Gay/NA/Enron on 12/13/2000 12:30 PM
---------------------------

Rob G Gay
12/12/2000 09:48 AM
To: "Mervenne, Mary" <MMERV@opic.gov>
cc: "'Rob.G.Gay@enron.com'" <Rob.G.Gay@enron.com>, "Mahaffey, Tom"
<TMAHA@opic.gov>, "Mervenne, Mary" <MMERV@opic.gov>, frank.kluesener@kfw.de,
"'mraciti@freshfields.com'" <mraciti@freshfields.com>, "Dutton, Chris CMJ
SI-GPBF" <Chris.M.J.Dutton@SI.shell.com>

Subject: RE: OPIC questions regarding spur pipelines at Kp 75 and kp362

This is fine for me.

"Mervenne, Mary" <MMERV@opic.gov> on 12/11/2000 05:27:54 PM
To: "'Rob.G.Gay@enron.com'" <Rob.G.Gay@enron.com>, "Mahaffey, Tom"
<TMAHA@opic.gov>, "Mervenne, Mary" <MMERV@opic.gov>, frank.kluesener@kfw.de
cc: "'mraciti@freshfields.com'" <mraciti@freshfields.com>

Subject: RE: OPIC questions regarding spur pipelines at Kp 75 and kp362

how is Friday at 12:30 am EST for our ECA call.  Tom M. is tied up until
12:30 or so on Friday.  Frank - is this too late for you?

Mary


Peter -

I took a quick look through the attached.  It appears that Global has taken
our unilateral agreement and made it bilateral.  I will have to really review
the document in detail to determine whether or not it is worth going with
their changes or simply providing our bilateral agreement.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com

	Peter Feltman/ENRON@enronXgate
	04/10/2001 02:31 PM

		 To: Mark Greenberg/NA/Enron@ENRON
		 cc: Mathis Conner/ENRON@enronXgate
		 Subject: Global Crossing's comments to the Enron NDA - Please responed ASAP!

Please review and provide me with your feedback.

Thanks,

Peter

Peter Feltman
Director
Enron Net Works
1400 Smith Street
Houston, Texas 77002
T: 713-345-4482
X: 713-646-8583
E-Mail: peter.feltman@enron.com


where was that buck shot Lee bass

-----Original Message-----
From: Brian Constantine [mailto:brianc@saltgrass.com]
Sent: Wednesday, November 14, 2001 12:36 PM
To: Parks, Joe
Subject: RE: FW: Buck

Yes, make them...put lots of sausage in it and we'll make it a meal.
I'll cook some corn bread, too.

-----Original Message-----
From: Parks, Joe [mailto:Joe.Parks@ENRON.com]
Sent: Wednesday, November 14, 2001 11:12 AM
To: Brian Constantine
Subject: RE: FW: Buck

reguest for menu, red beans and rice? i will make this weekend if you
would like

-----Original Message-----
From: Brian Constantine [mailto:brianc@saltgrass.com]
Sent: Wednesday, November 14, 2001 8:56 AM
To: Parks, Joe; Erik Wollam; knipe3@msn.com; kmccomb@austin-mccomb.com;
cmccomb@austin-mccomb.com
Subject: RE: FW: Buck

Joe...this picture was sent from the guy who shot the deer, to Mathew
Zander...Zander connected the guy with Mertz, who placed them on the
"home" property.

-----Original Message-----
From: Parks, Joe [mailto:Joe.Parks@ENRON.com]
Sent: Wednesday, November 14, 2001 6:58 AM
To: Erik Wollam; Brian Constantine; knipe3@msn.com;
kmccomb@austin-mccomb.com; cmccomb@austin-mccomb.com
Subject: RE: FW: Buck

How did Mertz email us from Erik's email address?

-----Original Message-----
From: Erik Wollam [mailto:erwollam@hotmail.com]
Sent: Tuesday, November 13, 2001 6:45 PM
To: brianc@saltgrass.com; knipe3@msn.com; kmccomb@austin-mccomb.com;
cmccomb@austin-mccomb.com; Parks, Joe
Subject: Re: FW: Buck

Never mind, I pulled it up. Not Booger. We have deer like that, we just
need
to go hunting so we can shoot some of them....e.

>From: "Brian Constantine" <brianc@saltgrass.com>
>To: <erwollam@hotmail.com>, <knipe3@msn.com>,
<kmccomb@austin-mccomb.com>,
><cmccomb@austin-mccomb.com>, <joe.parks@enron.com>
>Subject: FW: Buck
>Date: Tue, 13 Nov 2001 17:34:32 -0600
>
>This is
>sick...wrong...stupifying...disconcerting...unbelievable...incredulous.
.
>..very fishy....overall, a GREAT DEER!!!! Must be the protein!!!
>
>
>PIG
>
>-----Original Message-----
>From: CREW LAND RESEARCH [mailto:crewland@swbell.net]
>Sent: Tuesday, November 13, 2001 4:09 PM
>To: Brian Constantine
>Subject: Fw: Buck
>
>Brian, Here is what a mertz ranch trophy deer looks like, shot by my
>friend
>on Michaels Home Place right down the road from you all! Of course he
>shot
>it off his front porch!
>M and C Zander
>
>----- Original Message -----
>From: "Kevin Gilliland" <gilliland@marsltd.net>
>To: "Matthew Zander" <crewland@swbell.net>
>Sent: Tuesday, November 13, 2001 5:58 PM
>Subject: FW: Buck
>
>
> > Matthew,
> >
> > Thought you might want to take a look at this one, its a cull buck
off
>our
> > lease.  I shot him with my kids last weekend.  Where are you hunting
>this
> > year, are you still on one of Michaels leases.  Take Care.
> >
> > Kevin
> >
> >
> >
> >
> >
> >
> > Kevin C. Gilliland, Psy.D.
> > St. Paul Professional Bldg II, Ste 807
> > 5939 Harry Hines Blvd.
> > Dallas, TX 75235
> > gilliland@marsltd.net
> > (214) 879-6534
> > (214) 905-1998 Fax
> > (972) 898-5238 Mobile
> >
><< FamilyBuck.ipg.jpg >>
><< FieldBuck.ipg.jpg >>
><< Luke.ipg.jpg >>

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Hi Mark and Michelle:

Attached is a confidential resume for your review.  Please advise if you
would like to interview the applicant.

W/ Respect,
Craig Jefferies
President
CKB Energy Marketing, Inc.
A division of CKB, Inc.

 - legal1.doc


CALENDAR ENTRY:	APPOINTMENT

Description:
	New Contracts System Raetta

Date:		11/7/2000
Time:		12:00 PM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


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  Sent:    Thu, 12 Jul 2001 15:47:26 -0500

was delivered to the following recipient(s):

Williams, Barry S. on Thu, 12 Jul 2001 15:48:02 -0500
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Sheila,

Here is the document that was sent to NorthWestern

Chris


I'm still out of town, but now I have email access.  Did your CA get taken
care of?

You mentioned that you feel like we can use Tex-Mex as a go-by.  Do you have
electronic copies of the development agreement?

Thanks,

Kay