Notice No. 01-166
May 18, 2001

TO:
All COMEX Division Members/Member Firms
All COMEX Division Clearing Members
All COMEX Division Floor Traders
All COMEX Division Operations Managers

FROM:
Michael Campanelli, Vice President
Floor Operations / COMEX Division

RE:
Options Expiration Operational Procedures for the Trading Floor and Clearing
Members
______________________________________________________________________________

The expiration date for the June 2001 options contract for Aluminum (OAM1) is
Thursday, May 24, 2001.

 GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized on-line
trade entry (&OLTE8) system trained representative available until released
by the Exchange staff.  All adjustments  and/or corrections, must be
accompanied by relevant supporting documentation prior to being incorporated
into expiration processing, in essence making the expiration processing an
extension of the afternoon trade resolution procedures.

Exchange Clearing (299-2110) and Trade Processing (299-2465 and 299-2044)
personnel will be available to assist with the processing of notices of
Exercise and Abandonment, position transfers, trade corrections and other
questions or problems you may have.

Failure by any Clearing Member or qualified Floor Trader to comply with
procedures as outlined herein may result in severe disciplinary action by the
Exchange and potential financial liability to customers or members for
failure to exercise diligence in the processing of information.

 TRADING FLOOR OPERATIONAL PROCEDURES

Trading in the June 2001 Aluminum Options Contract will cease at 2:10 P.M. on
May 24, 2001.  All Brokers and Traders must inform their Clearing Members of
their intentions to exercise or abandon such Options by 4:00 P.M.

On Thursday, May 24, 2001, all Brokers and Clearing Members must have a duly
authorized, On-Line Trade Entry (&OLTE8) system trained representative
available until such time as the Exchange deems necessary.

NOTE: After 4:30 P.M. all expiring option trade data must be inputted on
special &OLTE8 terminals located in the Trade Processing Room.  Any other
means of submission will be rejected by the Exchange.  Members will be able
to submit all other trade data until 5:00 P.M.

After the Unmatched Trade Reports and the Preliminary Spot Month Matched
Trade Reports are displayed, Clearing Member representatives will be able to
pick up their Preliminary Clearing Reports at the Clearing Department.

A final review of all submissions will be made.  The Supervisor of the Trade
Processing Room will detain only those Clearing Members and/or Broker
representatives involved.  All final corrections will be made at this time
and upon determination of the Supervisor that all option processing is
complete, all representatives will be released.

Exchange Reports based on Thursday,s submissions and processing will be
available on Friday morning May 25, 2001.

In the event that you have any questions regarding the foregoing trading
floor procedures please contact Michael Campanelli at (212) 299-2072 or David
Sherman at (212) 299-2061.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

1. OPEN POSITION CONFIRMATION ("OPC") - The OPC should reflect as accurately
as possible all futures and options gross positions as of close-of business
on the business day prior to expiration.  Review the estimated current gross
positions as shown and make appropriate adjustments.  The OPC must be
submitted not later than 9:00 A.M.

2.   OPTIONS EXERCISE/ABANDONMENT REQUESTS FORM ("E/A") - An expiring option
with a strike price in-the-money by one tick or more will be subject to
automatic exercise unless an Option Abandonment Request form is submitted
advising that a Clearing Member ("CM") elects to abandon some or all of its
position in that strike price (i.e., for the option series).  All other
options series in the expiring month will be subject to automatic abandonment
unless an Option Exercise Request form is submitted.  When submitting an E/A
form, please note the following:

(a) An E/A form must be submitted not later than 5:00 PM.
(b) Do not submit an Exercise form for positions in strike prices which are
subject to automatic
Exercise nor submit an Abandonment form for positions in strike prices which
are subject to automatic abandonment.
(c) If a CM wishes to submit an E/A form to abandon a position in a strike
price subject to automatic exercise or wishes to exercise a position in a
strike price which is out of the money, it is necessary to notify Clearing by
telephone of such anticipated action.  The CM must have an officer available
to confirm such intention.
(d) CMs may secure from Clearing a time-stamped receipt of the CM copy to
assure submission  of the CM's E/A forms.

3. OPTION POSITION REDUCTION REQUEST FORM ("OPRR") - As a general rule,
purchases and sales of option contracts are presumed to be new business.   If
some or all of your purchases and sales are in fact undertaken for position
liquidation purposes, OPRR forms may be submitted on the day of expiration
and will be used in conjunction with trade data to reduce your projected
position in an expiring contract.  OPRR requests in excess of actual traded
volume will be rejected.  Exception: Cabinet trades and cancel correction
trades will automatically liquidate existing positions, therefore do not
submit an OPRR form for cabinet or cancel correction trades.
The OPRR form must be submitted not later than 5:00 PM.

4. HOUSE/CUSTOMER POSITION TRANSFER REQUEST FORM ("H/C") - H/C forms may be
used only to transfer previously cleared contracts between a CM's house and
customer accounts.  Problem trades (those which have not cleared prior to
expiration day) must be corrected using COMEX's on-line trade entry system
under the direct supervision of the Trade Audits Department of COMEX ("Trade
Audits").  The H/C form must be submitted not later than 3:30 PM.

5. EX-PIT POSITION TRANSFER REQUEST FORM ("Ex-Pit") - Ex Pit forms may be
used only to transfer previously cleared contracts between CMs.  Problem
trades (those which have not cleared prior to expiration day) must be
corrected on the on-line trade entry system under the direct supervision of
Trade Audits.  The Ex-Pit form must be submitted not later than 3:30 PM.

 *****
A) At approximately 4:15 PM, two PRELIMINARY reports of the expiration
process will be available for distribution at the NYMEX Clearing Department:

1. OPTION EXPIRATION REPORT AND CONFIRMATION - The purpose of this report is
to project the CM's present position going into the expiration based upon the
transactions which have already been submitted to Clearing.  CMs should
review and modify their adjusted gross positions as of close-of-business on
the business day prior to expiration.  Further adjustments may be submitted
not later than 5:00 PM.  The projected ending gross positions will reflect
transactions accepted or rejected for clearance on expiration night,
inclusive of Ex-Pit, H/C and OPRR transactions which have been submitted to
Clearing prior to 3:30 PM, and trade information submitted to COMEX prior to
3:45 PM.  Normally, this report will also reflect manually submitted Exercise
and Abandonment instructions, the projected number of exercises and maximum
potential assignments for each strike price, the type of exercise (manual or
automatic), whether the strike is In, At or Out of the money, and the
exercise val!
ue!
!
 associated therewith based on settlement prices established by COMEX on the
day of expiration.

2. TRANSACTION LISTING - This listing will include in detail all expiring
option trades submitted to COMEX prior to 3:45 PM on expiration day, and all
H/C, ExPit, OPRR and E/A transactions submitted to Clearing Prior to 3:30 PM.

Please note: Trade information reflected on the option expiration report and
transaction listing are trades submitted only. To inquire whether trades have
matched, each CM must review the trade reports provided by COMEX's On-Line
Trade Entry ("OLTE") system.

B) At approximately 5:30 PM, FINAL reports of the expiration process,
including all submissions to Clearing and trade information submitted to
COMEX made by 5:00 PM, will be available for distribution at the NYMEX
Clearing Department.

C) At 5:45 PM, Preliminary In The Money Abandonment and Out Of The Money
Exercise information will be announced on Fast Facts.

D) At Approximately 7:30 PM, a Final Notice of Exercise/Assignments will be
available in each CM's lockbox located at the NYMEX Clearing Department.
Each CM which has exercised or been assigned one or more options will receive
a separate statement showing exercises and/or assignments for each option
series.  Please check this statement carefully.  Although long options
positions in-the-money by one tick or more will be automatically exercised,
not all short option positions will be assigned if there are any options
manually abandoned at such strike prices.  Please note that there also may be
some at or out-of-the money options being exercised.

E) At approximately 9:00 PM, the final set of clearing sheets will be
available in each CM's lockbox located at the NYMEX Clearing Department.

It is strongly recommended that each CM have a representative(s) that is
properly trained to handle the option expiration process available beginning
at 4:15 PM and who will receive the CM's reports at the specific times.  It
is solely the responsibility of the CM to review these reports and to notify
the Clearing staff immediately of any discrepancies.

To obtain the exact time of the availability for each report, clearing
members should call (212) 513-7405, access code 702.  The announcement time
will occur 1/2 hour prior to availability.

Attached please find a Clearing Member Procedure Summary for ease of
reference.  Please contact John Ramos at (212) 299-2142 (Members 001-500) or
Mel Garcia at (212) 299-2144 (members 501-999) if you have any questions.

OPTION EXPIRATION PROCESSING CLEARING MEMBER PROCEDURE SUMMARY

Time: 3:30 PM
Activity: Expits, H/C transfers, Option Position Reduction and
Exercise/Abandon notices
Event: Submission to Clearing cutoff time.
Notes: Final cutoff for Expits and H/C tranfers

Time: 3:45 PM
Activity: Call Fast Facts to obtain availability time of Preliminary Option
Expiration Reports.
Event: Fast Facts notice of Availability

Time: 4:15 PM
Activity: Preliminary option expiration reports available to clearing members
at NYMEX Clearing Department

Time: 5:00 PM
Activity: Options Position Reduction, Exercise/Abandon notices and Gross
Position Adjustments
Event: Submission to Clearing Cutoff Time
Notes: Final cutoff for Option Position Reduction, Exercise/Abandon notices
and Gross Position Adjustments

Time: 5:05 PM
Activity: Call Fast Facts to obtain availability time of Final Preliminary
Option expiration Reports
Event: Fast Facts notice of Availability

Time: 5:30 PM
Activity: Final Preliminary option expiration reports available to clearing
members at NYMEX Clearing Department.

Time: 5:45 PM
Activity: Call Fast Facts to obtain Preliminary In the Money Abandonment and
Out of the Money Exercise Information
Event Fast Facts notice of information
Notes: New Event

Time: 6:00 PM
Activity: Corrections to previously Submitted Adjustments or Notices
Event: Correction period cutoff time (30 minutes after final preliminary
report is distributed)
Notes: Final cutoff for corrections

Time: 7:00 PM
Activity: Call Fast Facts to obtain availability of final expiring option
position and Exercise/Assignment report
Event: Fast Facts notice of Availability

Time: 7:30 PM
Activity: Final expirating options position and Exercise/Assignment report
available in clearing member's lockbox at NYMEX Clearing Department

Time: 8:30 PM
Activity: Call Fast Facts to obtain availability of final clearing reports.
Event: Fast Facts notice of Availability

Time: 9:00 PM
Activity: Final clearing reports available in clearing member's lockbox at
NYMEX Clearing Department.

Please contact John Ramos at (212) 299-2142 (Members 001-500) or Mel Garcia
at (212) 299-2144 (members 501-999) if you have any questions.

__________________________________________________
Please click on the link below to indicate you have received this
email.

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Note: If you click on the above line and nothing happens, please copy
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paste it into the web site address and press Return.


Jeff -- since most of Teddy's comments were over my head yesterday, I could
use your help on that part of the discussion.

***
Transwestern held its Transport Options Workshop on August 31.   Commercial
and regulatory representatives of BP-Amoco, Burlington, Conoco, Coral,
Dynegy, Phillips and Reliant attended.  After a brief overview of the
proposed TW Options filing, we opened the floor for questions and comments.
Here is a summary of the comments.

Marketing affiliate concerns.  BP's regulatory representative expressed
concern that TW's marketing affiliates would be able to use options to game
the system.  For example, since TW and ENA are both Enron companies, if ENA
buys a call option it is essentially a free option.  ENA could buy a call out
of the money and we could buy it back from them, with the proceeds going to
Enron's bottom line.  BP suggested that TW's marketing affiliates be banned
from purchasing options, or that the marketing affiliate be required to
credit the call money to other shippers.  BP's concern is that TW's filing
will set a precedent for other pipelines to offer a similar service, so they
want TW's options program to be as restricted as possible.  Dynegy reiterated
its suggestion that the marketing affiliate be required to credit back the
difference between the option fee paid by the affiliate and the next highest
bidder's bid, if the affiliate's bid exceeds the next highest bid by a
certain percentage.

Our response was that while actual abuse of an options program by a marketing
affiliate would be a concern, we feel that TW is entitled to a presumption
that it has complied and will continue to comply with the rules on sale of
capacity to marketing affiliates.  At this point we are not inclined to
voluntarily include any limitations on the options program.  If BP and others
have issues regarding Commission marketing affiliate policy in general, those
issues should be addressed in a different proceeding that pertain to all
interstate pipelines.

Right of first refusal.  Burlington asked whether options would replace the
right of first refusal.  Our response was that ROFR will still be available
pursuant to the terms and conditions of our tariff.

Negotiated rate.  BP's representative claimed that options will constitute a
negotiated rate and that each deal will need to be filed as such.  We did not
respond to this or discuss it further.  However, TW's position at this point
is that since the option fee is part of the transportation rate, the deals
will only be negotiated rate deals if the total rate exceeds the maximum
rate.

Hoarding capacity.  Several customers expressed concern that the options
program would make it easier for a shipper to hoard capacity.  It was not
clear why they thought that options would create more opportunity for
hoarding than already exists.  Their perception was that options would simply
make hoarding cheaper and easier.  We acknowledged that the potential for
withholding capacity from the market is one reason for FERC's current policy
against reserving capacity for shippers.  Although we did not commit to
placing any limits on the quantity of capacity for which a shipper may
purchase an option, it is possible that FERC may require us to do so.

Our plan is to meet with PG&E and SoCalGas in California to elicit their
comments, and finalize the FERC filing by mid-September.


1. Bond Authorization Passes Senate On Party Lines; 90 Days Wait for Bond
Money Begins

The Senate just passed bill SB 31X on a vote of 22-15 on party lines.
There was no crossover by Republicans.

*.  Sen. Burton indicated that we need to solve the problems and that the
problems were caused by the unfettered greed of the generators.  He stated
that if the MOU does move forward, he would insist that the generators take
a 30% haircut on monies owed because that is better than they would get in
bankruptcy court.

*. Republican Opposition:  Senators McClintock and Ackerman spoke against
the bill.  Arguments were basically about the use of revenue bonds and the
interest that taxpayers would have to pay.  They also made arguments about
the fact that the Governor's projections for conservation and rate increases
are not accurate.

*. Senator Peace gave his "usual speech" blaming the FERC for the situation
and indicated that Legislators have sued FERC over their inaction and said
that CA would win that battle and would get its money back.

2. Windfall Profit Tax Bill Goes Down to the Wire

There are indications that the Assembly Democrats intend to try to pass a
significant amount of legislation on Thursday in advance of an end to the
extraordinary session.  The priority remains SB 28X, a siting bill that has
been sent back to the Assembly.  (Sources report that there is disagreement
about the unemployment compensation terms laid out in this bill.)  According
to sources, the windfall profits tax bill, SB 1X, still remains in committee
in the Assembly.  It is unclear if this bill could be brought to a vote
tomorrow; we will continue to examine this issue.


Sara,

Believe it or not, we are very close getting our signed ISDA from the City of Glendale.  Steve Lins, the City attorney had a couple of questions which I will attempt to relay without having a copy of the documents.

1)  I am assuming that he obtained a for legal opinion letter or document of some sort.  This document references a confirmation and we are not sure what this references.  Typically, it references a transaction, which in this case, there are no transactions yet.  He feels this reference should be deleted.  What is your opinion regarding this?

2)  We sent him a couple of form documents to facilitate the documents required under the ISDA.  One form ws a form resolution.  They have already received City Council approval to enter into financial tranactions and to enter into an ISDA with us.  Steve is going to get a certified copy of this Resolution.  Will this suffice?

When you return, I may try to do one last conference call to alleviate any unanswered questions.  I think we will have an executed ISDA with the City of Glendale by the end of next week.  I am going to be out there meeting with them on Wednesday.

Thanks for your help,

Kim


I would like to sign up for the new garage, please.

Thanks,

Kay


My computer is plugged in to my phone line so I can sit on the bed and work.
I feel puny now,  but maybe I'll feel better later.


Jeff, I didn't know about your new job when I saw you before the Azurix
Board meeting. Congratulations!
Hope you have a great time at it.

Happy holidays.

Ed


Attached is GPG's report for October 2000.


kate, can you pls check on these fees when you get a chance.

477212 .0075
468440 .0075
468444 .0075
474434 .005

thanks


In case you have not seen, attached is a copy of a speech Steve Peace gave on
energy
supply.  Also:

*  I spoke with Tom Riley, UC/CSU account manager, and he has a conference
call with
the customer tomorrow.  He feels very confident that UC/CSU San Diego will
jump on this
issue.  We need to discuss how we want to use them and when.  Obviously the
sooner,
the better.

* I have not heard back from The New Power Company, but Dennis has a pricing
plan if they
are willing to move forward.  I have left a message with Lou to determine
what his thoughts are
and should hear back tonight.

* I'm still waiting for a list of three residential customers that may be
willing to talk, as well as
other San Diego based businesses.

Peggy
---------------------- Forwarded by Peggy Mahoney/HOU/EES on 07/19/2000 05:52
PM ---------------------------
From: Tom Riley/Western Region/The Bentley Company@Exchange on 07/19/2000
05:29 PM
To: Peggy Mahoney/HOU/EES@EES
cc:
Subject: FW: Steve Peace On Energy Supply

-----Original Message-----
From: "Tony Valenzuela" <tvalenzuela@calstate.edu>@ENRON@EES
Sent: Monday, July 17, 2000 4:26 PM
To: "Riley, Tom" <Tom_Riley@enron.com>; "Curtis, Michele"
<Michele_Curtis@enron.com>
Subject: FW: Steve Peace On Energy Supply

Tom:
FYI
 - S. Peace on Energy Shortage.doc


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Any changes similar to what you are discussing would have to be adopted through rule-making.

>>> "Taylor, Michael E" <Michael.E.Taylor@ENRON.com> 09/18/01 02:16PM >>>
Jimmy,

What happens if:  one county in zone 3 gets worse, can it be changed to
zone 2?  If so, would credits created previously created in that county
while it was zone 3, count as zone 2 credits?

Michael Taylor
Coal and Emissions Trading
Enron Global Markets
(713) 853-1885

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

 -----Original Message-----
From: 	Rob Laird <RLaird@natsource.ca>@ENRON
Sent:	Tuesday, August 14, 2001 12:02 PM
To:	Dorland, Chris
Subject:	RE:

How about skidoo skis for the front and tracks for the back..

-----Original Message-----
From: Chris.Dorland@enron.com [mailto:Chris.Dorland@enron.com]
Sent: Tuesday, August 14, 2001 11:00 AM
To: RLaird@natsource.ca
Subject: RE:

Lexus IS 300. Not sure if I am going to buy 17" or 16" wheels for the
winter. Jackass.

    -----Original Message-----
   From:   Rob Laird <RLaird@natsource.ca>@ENRON
   Sent:   Tuesday, August 14, 2001 11:54 AM
   To:     Dorland, Chris
   Subject:  RE:

   Not sure about the wheels, I believe he sells some recycled from used
   furnaces...I'll check on the tires, what's it for, model etc, do you
   have
   tire size?

   -----Original Message-----
   From: Chris.Dorland@enron.com [mailto:Chris.Dorland@enron.com]
   Sent: Tuesday, August 14, 2001 10:52 AM
   To: RLaird@natsource.ca
   Subject: RE:

   If you are bored try to find out what your tire guy thinks of Dunlop
   Winter
   Sport M2 tires. Is you tire guy also a wheel guy? I need some winter
   wheels
   as well.

       -----Original Message-----
      From:   Rob Laird <RLaird@natsource.ca>@ENRON
      Sent:   Tuesday, August 14, 2001 11:43 AM
      To:     Dorland, Chris
      Subject:  RE:

      Keep out of that fat category, that's all mine.....

      -----Original Message-----
      From: Chris.Dorland@enron.com [mailto:Chris.Dorland@enron.com]
      Sent: Tuesday, August 14, 2001 9:43 AM
      To: RLaird@natsource.ca
      Subject: RE:

      I was confused by your use of 2 spellings. Did you like my Austin
      Power's
      reference? "I know. That's how we do it in Belgium. It's called a
      Belgium
      dip" You are back in my good graces. Try not to confuse the dumb fat
      kid.

          -----Original Message-----
         From:   Rob Laird <RLaird@natsource.ca>@ENRON
         Sent:   Tuesday, August 14, 2001 10:37 AM
         To:     Dorland, Chris
         Subject:  RE:

         Wasn't questioning the chica's, like the term, thinking out loud
   as
      to
         any
         available on the scene for the kid....

         -----Original Message-----
         From: Chris.Dorland@enron.com [mailto:Chris.Dorland@enron.com]
         Sent: Tuesday, August 14, 2001 9:34 AM
         To: RLaird@natsource.ca
         Subject: RE:

         Fuck you. That's how we spell it in Belgium.

             -----Original Message-----
            From:   Rob Laird <RLaird@natsource.ca>@ENRON
            Sent:   Tuesday, August 14, 2001 10:29 AM
            To:     Dorland, Chris
            Subject:  RE:

            With open arms...Chica's? I was at a wedding this weekend with
      tons
         of
            chika's it was ridiculous....

            -----Original Message-----
            From: Chris.Dorland@enron.com [mailto:Chris.Dorland@enron.com]
            Sent: Tuesday, August 14, 2001 9:27 AM
            To: RLaird@natsource.ca
            Subject: RE:

            Coming to town Thursday for the weekend and hopefully moving by
      the
            middle
            of September. Spending Friday house shopping. I think I am
   going
      to
         end
            up
            in your neck of the woods. Seems like the best values are in
   that
         area.
            Are
            we going to get some snow this winter? We need to find Dorland
   a
         date. I
            am
            going to a wedding this weekend and there should be lots of
   single
            chicas
            there. I am really looking forward to being back in Cow town.
      Houston
         is
            painfull.

            Later

            cd

                -----Original Message-----
               From:   Rob Laird <RLaird@natsource.ca>@ENRON
               Sent:   Tuesday, August 14, 2001 10:12 AM
               To:     Dorland, Chris
               Subject:

               Sucka, when you coming to towne?

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         not
            be
            relied on by anyone as the basis of a contract by estoppel or
         otherwise.
            Thank you.

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


Dan,

Please find below details of Phy Gas deals with GTC agreements:

Please let me know if you need any more details.

Thanks,
Richard
x54886


This is a good time to bring this up.  Unless the original CES agreement has
changed, ENA will pay CALP a monthly demand charge of $103,417 from 1/1/2000
- 4/30/2000.  From 6/1/2000 - 7/7/2000, ENA will pay a (volumetric) demand
charge of $.02/mmbtu to CALP for any volumes utilized by ENA.

Which brings up 2 important points;
 1.The month of May has not been addressed which means Robin needs to discuss
this with CALP (and she may have already)
     However, currently we will not be showing any demand estimates for May.

 2.  It's a new ball game starting 7/8/2000.

Comments/questions?

---------------------- Forwarded by Chris Germany/HOU/ECT on 04/10/2000 05:57
PM ---------------------------

Brenda H Fletcher
04/10/2000 04:37 PM
To: Chris Germany/HOU/ECT@ECT
cc: Scott Goodell/Corp/Enron@ENRON
Subject: CGAS contract 64231

This contract is on the ECT April spreadsheet under CES Wholesale.  What is
the relationship between ENA and Commonwealth Atlantic?
(Who pays transport invoice?  Any reimbursements?)

Thanks,
Brenda


Will do, and get back to you asap!

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


There are rumors around here that all the employees going to the new company - UBS Energy will be taken off of the Enron servers tomorrow.  If this is true, I do not know what or when my email service at work will be back up.  Please send in the mean time any emails to plove@houston.rr.com.  Thanks.  Hope all of you are doing well.
PL


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are you in love?  what is his last name? claven?


[IMAGE]

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This request has been completed.  Please call if you have any questions.

Thank you,

Jennifer Blevins
Risk Controls
713-345-2465


Enron Corp. up 1 5/8


I finally was able to implement the new factors for power, now know as Project X.  If you have time, I would like to give you a down load on the work involved the last few months cleaning things up.  Overall VAR is reduced.  I've included some highlights below.

?	Changed correlation measure to fixed contract instead of using prompt price history
?	Extended factors out past prompt month to 24 months (power only), (previously was for prompt month only)
o	Repeating last 12 months (seasonality) for 120 months, and scaled by ff vol
?	Updated jumps from 1998 (impacts intra month books)
o	Introduced regionally correlated jumps
?	Mapped F curves to appropriate R and B curves
?	Captured gas leg in spread option
?	Captured gas leg in heat rate swaps
?	Corrected incorrect curve codes and data input relating to risk type

(as of Sept 24)
Trader			Old VAR		New VAR
Dana Davis		2.9			1.8
East VAR		15.3			13.2
West VAR		14			10.4
Canada			14.3			11.4
Power total		35			30.8

Additionally, items on our to do list for the future include:
1.	Smoothing of FFvol curve
2.	Introducing more factors to model (40). (Improving correlations and decreasing VAR instability)

As an aside, we are looking at trying to introduce a fast Fourier transformation to improve VAR modeling, allowing us to increase number and accuracy of simulations.

In closing, this project could not have been completed without the help of the Stephen Stock's IT team, the power traders, Tanya Tamarchenko, Jaesoo Lew, Stacey White, Casey Evans, Naveen Andrews, Michael Presley and Donnie Vinson.

I appreciate your patience, I realize it has been a long haul.

Thanks,

Frank


Please provide me an update on the progress of the working group you have led
this year.  There are several things I would like you to cover in this regard.

Did the working group function through the year or was it terminated (I
recognize there may be good reasons for the latter, but would like to
understand those reasons).

What did the group accomplish?

Would you recommend continuing it?   Any changes?

Are there other topics we should consider for working groups in the future?
Any changes to the working group process itself?

Please provide input on the individuals you worked with.  You should be able
to do this through the PEP system.  If you cannot, please provide the
feedback by confidential e-mail to me.  Because the PRC is coming up soon,
please provide the feedback by December 1.


<<hallmark.gif>>

 - hallmark.gif


It's more complicated still.  A crazy commissioner at the CPUC now wants to require everyone to submit their DA contracts to Commission for review.  It's attached.  Folks are going to oppose it very strongly.  I'm available to talk.  I'm not sure that the Oct. 5th date has got legs.

Best,
Jeff

-----Original Message-----
From: Browner, Victor
Sent: Monday, November 19, 2001 7:26 PM
To: Foster, Chris H.; Murphy, Harlan; Dasovich, Jeff
Cc: Parquet, David
Subject: Hanson

Guys please see the email from Hanson below.

Dave would like to talk about this tomorrow morning say 10:00 am PST, please let me know if you can't make it.

Jeff, can you provide us with an update on items 1 and 2.

Harlan and Chris, obviously we will be focusing on Hanson's request for compensation for "delayed opportunity to participate in Direct Access".  I have also attached a time line of events surrounding this agreement and the DASR.

Cheers

Victor Browner
-----Original Message-----
From: Bouse, Earl [mailto:Earl.Bouse@HansonAmerica.com]
Sent: Monday, November 19, 2001 1:36 PM
To: Browner, Victor; Dave Parquet (E-mail)
Cc: Booth Bill (E-mail); Barkovich Dr. Barbara (E-mail); Smith, Stewart; Carson, Brad; Wallmann, James
Subject: DASR / Contract Notification to CPUC

Dear Victor and David:

Please review the CPUC attachments provided by CLECA's Dr. Barbara Barkovich. The CPUC is aggressively following up on Direct Access contracts and DASR's. Please let us know where you are in responding to the CPUC Direct Access Verification process as it relates to Hanson Permanente's contract with Enron, as follows:

1. Have you been contacted by the CPUC or PG&E related to the Direct Access verification process?
2. What information have you provided to the CPUC and to any other requesting party?

We look forward to hearing from you ASAP on answers to these questions.  We would also appreciate copies of any correspondence that you have had with anyone on the DASR and Direct Access Contract.

The DASR process was handled very poorly by Enron in September, and those errors delayed Hanson Permanente's opportunity to participate in Direct Access until November. We are awaiting Enron's remedy to compensate Hanson for the added power cost incurred during October 2001.

Please call me if you have any questions.

Sincerely,

Earl

Hanson Permanente Cement
925.426.4084  Direct Dial                      925.426.4060  Fax
Earl.Bouse@HansonAmerica.com     earlbouse@aol.com

-----Original Message-----
From:   BRBarkovich [ <mailto:brbarkovich@earthlink.net>]
Sent:   Monday, November 19, 2001 11:20 AM
To:     CLECA Members
Subject:        I have a question

<<98-07-003 joint proposal(v1).DOC>> <<98-07-003 Attachment A(v1).DOC>>
For those of you who have gone DA, did all of your ESPs send your names
to the utilities by Oct. 5?  Here is the utility filing on DA suspension implementation and that is an important date.  I want to be sure that we don't have any problems along those lines.

I am including copies of the utility filings for those of you who want to learn more about this and why the date is important.  We need to file comments on the utility filings by Nov. 28. Barbara


This confirm is ready for execution.


Hi Guys,

Is the 501D in storage?  If not, when will it be delivered?  I'm asking in
connection with information to be provided in the CPCN process.

Thanks,

Kay


The hits just keep on coming.
---------------------- Forwarded by Steve Venturatos/HOU/ECT on 11/14/2000
11:23 AM ---------------------------

"Bradley Rome" <brome@br-inc.com> on 11/14/2000 11:14:31 AM
Please respond to <brome@br-inc.com>
To: <DSLMIL@aol.com>, <jrobertson@datarecall.net>,
<landquest@worldnet.att.net>, <louviereej@stone-energy.com>,
<marshall@millinglaw.com>, <sdbaker10@hotmail.com>, <sventur@enron.com>,
<wbailey@gamde.com>
cc:
Subject: fwd: FW: Fwd: Picture worth a thousand words

Bradley J. Rome, CPL/ESA
Senior Staff Landman
Burlington Resources Oil & Gas Company
brome@br-inc.com
---------- Original Text ----------

From: "Bailey, James W" <bailejw@texaco.com>, on 11/14/2000 9:41 AM:
To: Bradley Rome@LND@GCD

-----Original Message-----
From: Bob Byars [mailto:bbyars@eplweb.com]
Sent: Tuesday, November 14, 2000 9:14 AM
To: Barry Groff (E-mail); Dave Hackney (E-mail); Doug Bowling (E-mail);
George Grau (E-mail); Jay Martin (E-mail); Jim Bailey (E-mail); Jim
Vance (E-mail); Kevin Ashley (E-mail); Leanne Cantrell (E-mail); Lew
Scott (E-mail); Mike Bowman (E-mail); Steve Bohnet (E-mail); Tim Walker
(E-mail); Todd Burkes (E-mail)
Subject: FW: Fwd: Picture worth a thousand words

>  -----Original Message-----
> From:  Lisa LaHoste
> Sent: Tuesday, November 14, 2000 6:00 AM
> To: Barbara Meyer; Bob Murphy; Bob Byars
> Subject: Fwd: Picture worth a thousand words
>
>  <<algore.jpg>>
>
> Lisa LaHoste
> Energy Partners, LTD.
> Engineering Technician
> East Bay Field
> (504) 799 -1919
> (504) 799 -1910 Fax
> llahoste@eplweb.com
>

 - algore.jpg


The DPR for today is final and posted to the Executive Reports Viewer.

Please note that a revision to the DPR format has been made, effective today,
due to a change in organizational structure.  The "Enron North America,
Emerging Businesses" section, which includes Pulp & Paper Trading and Lumber,
has been removed and replaced by the "Enron Industrial Markets" section.

If you have any questions or concerns, please contact Mike Moscoso at
x-35242.


Greg,

Our P&L losses over the last few days have been due to four things primarily.

1)  We have been short crude, and are still short, in a $2.00 up move.  (today the market was down)
2)  We are liquidating many of our portfolios, and are paying large bid/offers.  We are also abandoning some of our P+ options with Koch since credit has indicated our inability to access cash will completely hamper our ability to exercise puts.
3)  As a company we are short vol, and vol has been extremely strong, and continues to move against us.
4)  being long physical inventories in europe in a falling market.  In addition, none of our counterparts/customers/competitors are willing to take the product from us.

We will continue to work out of positions.


just get your butt in here already

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

I am on my way.  you just can't work without me can you?
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


----- Forwarded by Mark Taylor/HOU/ECT on 05/22/2000 10:56 AM -----

	David Forster@ENRON
	05/19/2000 04:46 PM

		 To: Mark Palmer/Corp/Enron@ENRON, Elisabeth McCabe/Corp/Enron@Enron, Mark
Frevert/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Jackie Gentle/LON/ECT@ECT,
Andrew Miles/HOU/EES@EES, Rob Bradley/Corp/Enron@ENRON, David W
Delainey/HOU/ECT@ECT, Mark Koenig/Corp/Enron@ENRON, Steven J
Kean/HOU/EES@EES, Philippe A Bibi/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT,
Bryan Seyfried/LON/ECT@ECT, Rick Buy/HOU/ECT@ECT, Greg
Piper/Corp/Enron@Enron, Fred Lagrasta/HOU/ECT@ECT, Edward D
Baughman/HOU/ECT@ECT, Craig Breslau/HOU/ECT@ECT, Michael McDonald/SF/ECT@ECT,
Grant Oh/CAL/ECT@ECT, Harold Bertram/HOU/ECT@ECT, Cary M
Carrabine/Corp/Enron@Enron, Edward Ondarza/HOU/ECT@ECT, Mark
Tawney/HOU/ECT@ECT, Per Sekse/NY/ECT@ECT, Thomas D Gros/HOU/ECT@ECT, Janet R
Dietrich/HOU/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON, Greg Wolfe/HOU/ECT@ECT,
Brian Bierbach/DEN/ECT@Enron, Brian Redmond/HOU/ECT@ECT, Kathryn
Corbally/Corp/Enron@ENRON, Stuart Staley/LON/ECT@ECT, Kevin
McGowan/Corp/Enron@ENRON, Peter Bradley/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT,
John Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, George
Wasaff/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Meredith
Philipp/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Lisa
Lees/HOU/ECT@ECT, Mary Gopalan/LON/ECT@ECT, Kal Shah/HOU/ECT@ECT, Greg
Whalley/HOU/ECT@ECT, Daniel Diamond/HOU/ECT@ECT, Michael
Danielson/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Mark Pickering/LON/ECT@ECT
		 cc: Bob Shults/HOU/ECT@ECT, Amita Gosalia/LON/ECT@ECT, Carrie
Southard/HOU/ECT@ECT, Mario Parra Cardoso/Corp/Enron@Enron, David
Forster/Corp/Enron@Enron, Andy Zipper/Corp/Enron@Enron, George
Hope/HOU/ECT@ECT
		 Subject: Public Report 05-18

The Public Report has been created in order to help spread the EnronOnline
success story.  The information contained in this attachment can be
communicated to audiences outside the company and should be used to ensure
that we present a consistent message to the public. Please ensure that this
email is distributed to anyone in your group who needs to discuss EnronOnline
with individuals outside the company.

There are a couple of messages, which we like to concentrate on when
discussing EnronOnline. Please keep the following messages in mind, to be
used as verbal responses when talking to a customer and the opportunity
arises:

- EnronOnline is just another way for our customers to do business with us.
- EnronOnline provides price discovery and simple transactions for free.

Please note that this report is not intended to be used as a stand-alone
presentation, nor that all the information be used in a single presentation
or customer communication.   If we have missed a specific area, please let us
know and we will add it for you on a daily basis.

If you require further clarification on the information contained in this
email, please contact Bob Shults on 30397.


Guys, what are we going to do with this contract and the barges?  My
understanding is that we have a done deal on the 6B's.  Is this correct?  I
may be a nervous nellie but I would like to put all this stuff behind us (ie)
no more 6B's or barges.

Regards
Delainey


Actually, prior to the CES acquisition we had between 200 and 500 little
wells of metered production in the Appalachian area of our own.  These wells
produce anywhere from 10 dt's to 10,000 dt's per day.  Most are very minimal,
probably 500 dt's or less.  This production is produced on several gathering
lines off of CNG and Columbia Gas.  A couple of years ago Columbia Gas
started getting out of the gathering business and sold part of the wells to
Gatherco, then they spun off part to CNR, and the remainder are still held by
Columbia Gas.  Around the 10th of the month we get estimates from Gatherco
and CNR as to what it appears that the individual wells are producing and
then we nominate the gas, which takes up to several hours of updating time.
The Columbia Gas meters we do not have to individually nominate to the pipe.
We receive an estimate from the pipe for the total volume and they give us
credit for it in our pool.  Sounds simple.  The problem comes three months
down the road when we get the actuals from Columbia Gas as to what flowed at
these meters and accounting has to go in and make payments to all these
little producers.

Prior to unify, it didn't really effect us.  Client Services would just zero
out the one lump estimate that we had made and then they would go in and add
each producer, the wells that flowed, the volume and make the final payment
to each.  It was a very time consuming process and they had one person who
was solely devoted to doing nothing but this.  Because unify was developed to
put as much work up front in the process, client services no longer has the
'back door' to get the payment out the door.  This means that each well that
we have on Columbia Gas must now have an individual ticket in sitara  with a
volume of 0 (currently our responsibility to set up) and must have at least
one path with a volume of 1 for each month in unify.  Several months ago
after converting to unify, Robert, Molly Lafuze, Kathy Moore, and Victor put
in a massive effort over the course of about three weeks to get all of our
own meters taken care of while still maintaining their respective jobs.
Generally, it's the same meters that flow and when we set them up, we do it
over a long period of time so the path just rolls from one month to next and
as long as we keep up our tracking and balancing, we're just in maintenance
mode.  However, sometimes new wells come up, at which point the process is to
1) have the global group set up the meters and the counterparties, 2) set up
a deal in sitara, 3) put a path in unify with a volume of 1, 4) create noms,
and 5) track and balance.  Since we don't even get actuals to 3 months after
flow, we usually have at least 3 to 4 months of catch up to do.  And of
course, as you are aware, our systems have been running a little slow lately.

With the acquisition of CES we have taken on even more of the gas.  I've
heard on a couple of occasions just how many wells this is, but I'm sorry,
the number seems to have escaped me.  I know it is at least several hundred
and that it is quit a bit more than we had previously.

This whole subject is one that has been passed around by several people
including myself, Chris Germany, John Singer, Jim Javins, and Scott Neal on
more than one occasion.  One thought that John Singer and Jim Javins had was
to have someone named Hiedi in Jim's office get access to our systems and
input the gas herself.  Seems like a nice suggestion, except that she is EES
and I don't think that we want her in our sytems.  By the way, John Singer
and Jim Javins are the ones buying this wellhead gas.  They picked Hiedi
because she works in the same office as Jim and they feel that she could give
these little guys the hand holding treatment that they sometimes demand.
Yes, it's hard to believe but it's the ones getting the $50 checks that
complain the most.  They thought that Hiedi could also be responsible for
making the payments.

Anyway, that suggestion wasn't really panning out, so another suggestion has
arisen as to setting up a whole new Enron entity that would handle the
metered supply and we would be buying the gas from this entity.  First, we
would have to take into consideration whether it would restrict our
flexibility on Columbia Gas.   I'm not totally sure how to go about getting
something like this off the ground, but it does have merit.  Another thought
was to hire someone here that's sole responsibility would be the metered
supply.  They would hopefully become a specialist in the area and would work
closely with Gloria in client services, Jim Javins and John Singer.  The
thought was to have them report either to me or to Scott Neal.  Chris and I
tend to disagree in this area.  he thinks there is plenty of work for a full
time person.  My opinion is that there is definitely a need for a special
project over the course of some time, but that once the initial push to get
the meters in is done that it is more of a part-time responsibility.  The big
problem with that though is right now, the guys downstairs don't even have
time to get these special type of requests done and it might be faster for
Gloria to do them herself, if she has proper training and access to our
systems.  However, regardless of which group gets the responsibility, there
is going to be a need for a very large effort within the next month or so
when January actuals come in and we should be prepared.

Any way, please give it some thought and let me know if you have any
suggestions.  I'd also like to here what your views might be.

Thanks!

Robert Superty
01/26/2000 04:36 PM
To: Katherine L Kelly/HOU/ECT@ECT
cc:
Subject: Re: Accounting stuff. Let me know what you find out. Thanks.

Kathy, who are we doing this for and why? This isn't CES business is it?

Please get back to me, thanks - Bob

	From:  Katherine L Kelly                           01/26/2000 04:17 PM

To: Robert Superty/HOU/ECT@ECT
cc:
Subject: Re: Accounting stuff. Let me know what you find out. Thanks.

Bob,

After talking with Robert about this request this morning, I told him that I
would look at future option, but that in the meantime I would go ahead and
take care of these for Gloria.  Well, to my shock, it took over three hours
for me to complete the task of setting up 2 deal in sitara and adding and
pathing 9 meters in unify over the course of six months.  I'm not sure why I
thought this, but I thought it might take 30 maybe 45 minutes.  The whole
process is really rather simple, just very time consuming.  What scares me is
that we are soon going to be having to do exactly this same thing for the
hundreds of metered production wells that have come over with the CES
acquisition.  At the current rate of business that we are doing, I just don't
see how will be able to accomplish this with our current resources.

We still have some time before we need to make a decision, but a couple of
possible solutions would be 1) bring in some temporary help for a short
period of time or 2)  give Gloria access to help out with this, but then we
give up part of the control of our systems to other group.

---------------------- Forwarded by Katherine L Kelly/HOU/ECT on 01/26/2000
03:38 PM ---------------------------

Victor Lamadrid
01/25/2000 06:29 PM
To: Robert Allwein/HOU/ECT@ECT
cc: Edward Terry/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Tricia
Bowen/HOU/ECT@ECT
Subject: Re: Accounting stuff. Let me know what you find out. Thanks.

ED/KATHY,  Please help.  There's gotta be a way that client services can add
these producer meters and ZERO paths that are so old or learn how to do it!
Volumes are minimal and the TCO guys are swamped.  I'm sure the SOUTHEAST
schedulers get the same type of request from client services or they will
with the CES wellhead stuff.  We don't have time to do the research for this
stuff, set up the meters and the tickets and the counterparties for little or
no volume that's from JULY of 1999!!! HELLO That was a millenium ago!!! Can
you tell I'm a little emotional about this?  There is no value added to
something after the fact for the desk on this one.  What do y'all
think??????????

Robert Allwein
01/25/2000 06:18 PM
To: Victor Lamadrid/HOU/ECT@ECT
cc:
Subject: Accounting stuff. Let me know what you find out. Thanks. Waz Up

---------------------- Forwarded by Robert Allwein/HOU/ECT on 01/25/2000
06:17 PM ---------------------------

Gloria G Barkowsky
01/25/2000 10:38 AM
To: Robert Allwein/HOU/ECT@ECT
cc: LaShonda Poledore/Corp/Enron@ENRON
Subject: Meter and Deal change

Robert - can you do these?  I don't think this is something that I can do.
Let me know.  Thanks, Gloria 3-7118
---------------------- Forwarded by Gloria G Barkowsky/HOU/ECT on 01/25/2000
10:37 AM ---------------------------

LaShonda Poledore@ENRON
01/24/2000 05:04 PM
To: Gloria G Barkowsky/HOU/ECT@ECT
cc: Wade R Price/HOU/ECT@ECT
Subject: Meter and Deal change

Please make changes for all meters from 9907 forward!

Please add these meters# 712935,713942,716096,717753,717951 to deal #84417 on
gatherco
H&H Energy contract#96021339 with a price of  97%inferc  and -0.25 gathering

Please add meters# 713095,734403 to Cgas- H&H Energy with a new deal number
at a price of 97%inferc and no gathering.

Please add meters#719495 to Cgas-H&H Energy with a new deal number at a price
of 97%inferc with -0.27 gathering.

Thank You
LP


(If you previously received this memo, please disregard).

Attached is the final memo with information regarding hotel accomodations,
the Law Conference, Dinner and Activities.

Look forward to seeing you in San Antonio!

Sara


I wanted to show you when I sent this and how long it took to set it up.  Go
home before 11pm today!

DG
---------------------- Forwarded by Darron C Giron/HOU/ECT on 06/28/2000
09:28 AM ---------------------------

	Enron North America Corp.

	From:  Darron C Giron                           06/15/2000 09:29 AM

To: Gary Stadler/HOU/ECT@ECT
cc:
Subject: Re: New Tagg Book

Gary,
We need to add a new book in Tagg.  Kam suggested I send the request to you.
Please call me if you have any questions.  Thanks.

DG    3-9573

---------------------- Forwarded by Darron C Giron/HOU/ECT on 06/15/2000
09:27 AM ---------------------------

Ron Nolte
06/15/2000 06:20 AM
To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Re: New Tagg Book

Darron,

Befire a book can be added to TAGG, it has to be added to Global Counterparty.

Attached please find an example of a request that is sent Global
Counterparty.  Once
the book is added to Global Counterparty, an e-mail is sent to Ricky Dang
from Global
and he adds to to TAGG.

Give me a call if you have any questions.

Thanks, Ron

	Enron North America Corp.

	From:  Darron C Giron                           06-14-2000 03:02 PM

To: Ron Nolte/HOU/ECT@ECT
cc: Kam Keiser/HOU/ECT@ECT
Subject: New Tagg Book

Ron,
Please add the following book to Tagg:

 IM-CENT-MID2

If you need any additional information, please call.  Thanks.

DG    3-9573


Yes, Larry - your points are very appropriate at this time.  Why don't you
set up a conference call with the group to assess our position.  I would also
like to add Randy Rice and Mike Riedel to our merry band of decision makers.
If it will help you out, why don't you ask Kathy Willard to set the call up
for you.  She can poll everyone for a convenient time slot and set the call
up.  Thanks for bringing this to my attention.  John

Larry Campbell
01/02/2001 06:43 PM
To: John Shafer/OTS/Enron@Enron, Louis Soldano/ET&S/Enron@Enron
cc: William Kendrick/OTS/Enron@Enron, Rich Jolly/ET&S/Enron@Enron, David
Roensch/ET&S/Enron@Enron, Butch Russell/ET&S/Enron@Enron

Subject: Penn State Invoice

John, I just received the latest invoice from Penn State for $11,559.57.
Transwestern has spent $60,962.54 thus far for the work from Penn State.   I
will code this and have a check cut, however, I am concerned that the
direction Transwestern should take is not clear among all parties involved.
Id like to discuss this and am considering a conference call with the people
on the above distribution and any other interested Enron personnel to outline
PCB plans and the Penn State modeling efforts for 2001.

This memo is just a heads up and I would request that thoughts be given from
the above individuals on where we would like to go from here.   You should be
hearing from me in the near future.....


Dear Errol McLaughlin,

The Return of Cigar Aficionado TV
Our original videos are back, and this time we take you inside the Graycliff
cigar factory in Nassau, the Bahamas. Watch Cuban cigar legend Avelino Lara
run one of the smallest cigar factories in the world.

http://www.cigaraficionado.com/Cigar/Aficionado/SpecialFeature/video/home.html

So You Want to Make Your Own Cigars
Doug Doan was obsessed with making a cigar rarer than a Fuente Fuente OpusX,
so he dug up his backyard, grabbed a can of Ortho and planted his own
personal tobacco crop.

http://www.cigaraficionado.com/Cigar/Aficionado/WhatsNew/Archives/20010402.cig
arnews2.wna

A Cigar Fit For A Soprano
Are you a fan of the hit HBO series "The Sopranos?" Vincent "Big Pussy"
Pastore has created his own cigar brand. Read about the launch, and about one
editor's encounter with the character at Rao's.

http://www.cigaraficionado.com/Cigar/Aficionado/WhatsNew/Archives/20010423.cig
arnews2.wna

http://www.cigaraficionado.com/Cigar/Aficionado/WhatsNew/Archives/20010423.wkw
rap.wna

What's Wrong With Cuban Cigars?
Our man in Havana, James Suckling, says that today's Cuban cigars don't have
the taste and performance of older Cubans. Read his regular column from Cuba,
Havana Corner.

http://www.cigaraficionado.com/Cigar/Aficionado/HavanaCorner/havana_corner21.h
tml

The Women of Cigar Aficionado
Claudia Schiffer. Demi Moore. India Allen. Linda Evangelista. Anne Archer.
They're some of the most beautiful women in the world, and they're in our new
photo gallery smoking cigars. Don?t miss this new feature.

http://www.cigaraficionado.com/Cigar/Aficionado/WomenOfCA/index.html

Cigars Go to the Supreme Court, and Derby Day Is Nigh
In our What's New section, read about cigarmakers taking an appeal to the
U.S. Supreme Court. Plus the most exciting two minutes in sports is Saturday,
so read resident cigar sage George Brightman's account of how to best enjoy
Derby Day.

http://www.cigaraficionado.com/Cigar/Aficionado/_whatsnew_html

That's only a small taste of what's online. Don't forget our Cigar Ratings
database, where you can peruse more than 1800 ratings of cigars; our Bulletin
Boards, where you can connect with other readers or post questions to the
editors of the magazine; Cigars 101, where you can learn the basics; our
newly expanded Drinks section (now featuring the rundown on single-malt
Scotch); our Counterfeit Gallery of fake cigar bands and much, much more.

See you online!

Sincerely,
Cigar Aficionado
http://www.cigaraficionado.com

-----------------------
To remove yourself from this e-mail list, simply reply to this message.
Be sure to include the following line in the body of your reply:

{{{errol.mclaughlin@enron.com/errol mclaughlin}}}


-----Original Message-----
From: 	Kingerski, Harry
Sent:	Monday, July 16, 2001 5:06 PM
To:	'JBennett <JBennett@GMSSR.com>@ENRON'; Jeff Dasovich (E-mail); Jim Steffes (E-mail); Sue Mara (E-mail)
Subject:	RE: A.00-11-038 et al. ABAG POWER Petition for Modification of D.	01-05-064

I think ABAG has a good point and the principle is one we are also trying to establish - if you weren't using DWR power, you shouldn't have to pay for it.  But I wonder if Enron's endorsement of ABAG's petition wouldn't contaminate it.  I think we should let them win on the merits of their own argument and use their success (if it occurs) as precedent for our position on similar issues.

Also, there is some downside if they win.  Our customers were on the utility for those 3 months, and are now off - the direct opposite of the situation ABAG is in.  So if they escape the burden of the 3 month surcharge, it would (should) be reimposed on customers who were on the utility at that time - which in theory could include our customers, even though they are back on DA and otherwise exempt from the surcharge.

So while I think we want them to win, like always, its hard to figure if that's good or bad so let's just stay out.

 -----Original Message-----
From: 	JBennett <JBennett@GMSSR.com>@ENRON [mailto:IMCEANOTES-JBennett+20+3CJBennett+40GMSSR+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, July 16, 2001 11:43 AM
To:	Kingerski, Harry; Jeff Dasovich (E-mail); Jim Steffes (E-mail); Sue Mara (E-mail)
Subject:	FW: A.00-11-038 et al. ABAG POWER Petition for Modification of D.	01-05-064
Importance:	High

Attached is a petition for modification of Decision 01-05-064 (the rate
design decision) filed by the Association of Bay Area Governments. The
Petition requests that the decision be modified to exempt customers which
were direct access for the period of March through May 2001 from the 12
month procurement surcharge which is designed to allow the utilities to
collect the three cent increase authorized by the March decision which then
did not go into effect until June (i.e., collect the revenues foregone due
to the time lag in implementation).

Given the fact that most of Enron's customers were on bundled service during
the March-June time frame, I do not believe that the requested modification
would provide them any benefit. Let me know if I am wrong on this and if
Enron wants to chime in  in support of ABAG's petition.

Jeanne Bennett

-----Original Message-----
From: Dan Douglass [mailto:douglass@energyattorney.com]
Sent: Friday, July 13, 2001 5:31 PM
To:
Subject: Re: A.00-11-038 et al. ABAG POWER Petition for Modification of
D.01-05-064
Importance: High

Attached for your information is a copy of the Petition for Modification of
D.01-05-064 filed today by ABAG POWER.  Copies have also been sent to all
parties on the service list by U.S. Mail.

Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd.  Suite 244
Woodland Hills, CA 91367
Tel:   (818) 596-2201
Fax:  (818) 346-6502
douglass@energyattorney.com

 - 7-13-01 Petition for Modification of D.01-05-064 - Final.doc << File: 7-13-01 Petition for Modification of D.01-05-064 - Final.doc >>


Vince,

Just a reminder to put in a word with Dave.  I have already sent him a short
note, asking him for a meeting in the week of 17th December.

Regards,
Sandeep.


Special Thanks to Anthony and Tana for the quick response today. You helped
clarify our position very quickly which was important given the confusion
with the counterparty.

FYI - We will be negotiating an up-to-date ISDA for ECTRIC.

Thanks again.

Matthew Allan
European Contracts Manager


-----Original Message-----
From: 	Emmert, Caroline
Sent:	Thursday, May 03, 2001 5:13 PM
To:	Stokley, Chris
Cc:	O'Neil, Murray P.; Johnson, Donna
Subject:	FW: Status of Actualizations - October Deviation Preliminaries and Finals, and 'Other' Finals

I spent several hours with TJ shadowing and we tested the 402 code while I examined results.  As each error or incorrect result was noted, we went to the code and walked through and made changes.  TJ is now running actual dates and we will check them in the morning.  When all is well, we will run the rest of October.  Next we will perform the same testing and coding revisions for 405 (only need to test for EPMI-side exceptions) and then we will be able to run 405 for the month.

After the latest unsuccessful run of 403, I delved into the specific details of the variances, and all of the material volumes are included in the Finals, so any allocations that would be created as a result of those variances would be reversed when I run the Final actualization.  So, this morning I manually calculated appropriate allocations for our Load customers (the variances are due to re-submitted meter data), entered the values in the ProRata allocation table, created an additional allocation for the remaining 1.9496MW variance, matched all up to the ISO, and completed 403 for Preliminaries.

I have actualized the regular stuff and set to M through October 27.  I will wrap those up on Friday.

At this point in time we are on target for completion of Prelims by Friday afternoon, but Finals may not be done until Monday.

Caroline
 -----Original Message-----
From: 	Emmert, Caroline
Sent:	Wednesday, May 02, 2001 8:29 PM
To:	Stokley, Chris
Cc:	Johnson, Donna; O'Neil, Murray P.
Subject:	FW: Status of Actualizations - October Deviation Preliminaries and Finals, and 'Other' Finals

Anna and I worked through the coding for 403 and she made some changes to the method for finding percent usage.  I reran the tool and looked at the results and we still do not have valid allocations.  On October 1, we now have an 877MW difference between the variance and the amount allocated.  Will look into it again tomorrow.

402 is nearly complete.  Ran into an error while running a test day, and I will discuss it with TJ tomorrow.  405 should be a quick fix once we get the 402 exceptions working properly.

I have actualized finals on the regular charges through October 23, and should be able to wrap up most, if not all, of the rest tomorrow.

If we can get them working properly tomorrow, then I will be able to finish the Prelims on Friday, and the Finals on Monday.

Caroline

 -----Original Message-----
From: 	Emmert, Caroline
Sent:	Tuesday, May 01, 2001 5:04 PM
To:	Stokley, Chris; Johnson, Donna
Subject:	Status of Actualizations - October Deviation Preliminaries and Finals, and 'Other' Finals

Exception handling coding changes are nearly complete.  TJ had to weave through the code for 402 all the way, as well as add 3 new function points: EPMI exceptions, ISO exceptions, and repeating (scavenging, he calls it) the exception roll up function from another module.  He has a test environment set up and is testing EPMI variance allocations, EPMI exceptions and ISO exceptions.  He has not yet done the 'scavenging' part.  He will be finished with 402 tonight, and tomorrow I will test the results on one of the days where I had samples of these exceptions.

The part of 405 that needs to be changed is for EPMI exception handling, which should be a much less involved endeavor.

For 403, I attempted to follow all of the queries through to see if I could run some tests within the environment and determine what was being pulled as a variance, and how that variance was being allocated.  However, these queries are currently beyond my expertise (I plan to rectify that).  We are going to enlist Anna's help as much as possible for 403, and get to the bottom of what is happening.  As a side note, for the time change date, we have an extra HE 2, and the ISO has HE 25.  We are also going to get with Anna on how to resolve that.

For the regular actualizations, I have set 10/1 - 10/18 (except 10/16) to M today.  There is a strange anomaly going on on the 16th, and neither Donna nor I could figure out what.  I will get back to it.

Anticipate completion of all by Monday, May 7.

Caroline

__________________________________________________________________________________________________
To:	Chris Stokley/ENRON@enronXgate <mailto:Stokley/ENRON@enronXgate>, Donna Johnson/ENRON@enronXgate <mailto:Johnson/ENRON@enronXgate>
cc:
Subject:	Status of Actualizations - October Deviation Preliminaries and 'Other' Finals

Exception handling in 402 and 405 not coded properly.   Tj working on enhancing the codes to handle them correctly, and anticipates being done with 402 by tomorrow afternoon, and 405 by mid-day Wednesday.

Final actualizations for the regular charge codes are complete and set to M through October 10.

Will perform additional research into the improper allocations for 403 on Tuesday.  The unallocated volume on 10/1 is approx 300MW, so I will focus my research on that day.

Estimate completion date of all (deviations, prelim and final, and regular charge codes, final) Monday, May 7.

Caroline

---------------------- Forwarded by Caroline Emmert/HOU/ECT on 04/30/2001 06:44 PM ---------------------------
To:	Chris Stokley/HOU/ECT@ECT <mailto:Stokley/HOU/ECT@ECT>, Donna Johnson/PDX/ECT@ECT <mailto:Johnson/PDX/ECT@ECT>
cc:
Subject:	Status of Deviation Actualizations - October Preliminaries

I have started the actualization process with 403 Load Deviation, and need to work closely with TJ on Monday to find out why the allocations don't match the variances.  I have isolated one day, zone and hour and will work on that with him.  We have got to get it working properly, or else there will be a lot of manual work required.

404 Export Deviation is complete for October, and the records can be set to A with the other days as normal.

405 Import Deviation needs the new calcs that will be provided by a re-run of SettleSupplemental, which I am going to kick off just before I leave.  I will run that on Monday while TJ is researching the 403 errors/problems.

402 Gen Deviation will also be started on Monday.

Tentative target date for completion of Prelim's is next Thursday, and Finals on Friday.

See you Monday.

Caroline


A marked version of the newest version of the posting agreement against the
8/02/00 version is attached, for what it is worth.

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3817
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490
----- Forwarded by Travis McCullough/HOU/ECT on 08/21/2000 06:11 PM -----

	Travis McCullough
	08/21/2000 06:01 PM

		 To: juman@espeed.com, smerkel@espeed.com, ragoldberg@swidlaw.com,
ygoldfeder@swidlaw.com, eksasson@swidlaw.com, fvaracchi@espeed.com,
hwaizer@cantor.com, afried@cantor.com
		 cc: Andy Zipper/Corp/Enron@Enron, James Grace/Corp/Enron@ENRON,
tstockbridge@velaw.com, mtelle@velaw.com, abeck@velaw.com, Mark
Taylor/HOU/ECT@ECT
		 Subject: Revised eSpeed Posting Agreement

Attached is a revised draft of the Price Posting Agreement for your review.
Because text has been rearranged and several provisions have been
substantially reworded, the version of this agreement marked against the
prior version is not particularly helpful, but I am happy to provide one if
you wish.

Please note that I am the only one on the Enron working group that has seen
this revised draft; it therefore remains subject to comments by the other
members of the team.

Instead of providing a redline, I thought it would be helpful to review the
most substantive changes in this e-mail.  Please feel free to give me a call
with any comments or questions.

1. As I have discussed with Stephen, you should not assume that we have
rejected any of your comments if they did not appear in the attached
version.   Please contact me to discuss, or resend, any comments that you
believe that we accepted but that are not reflected in this document.

2. Several new defined terms have been added.  Several definitions were
revised to reflect that eSpeed will be posting prices to a platform operated
by a separate legal entity that eSpeed will not necessarily control.

3. The defined terms "Sponsor Material Adverse Effect", "Sponsor Regulatory
Event", and "Sponsor Technological Failure" have been renamed "eSpeed ..."
instead of "Sponsor ..."

4. Sections 3(a) and (b) have been slightly reworded to reflect the multiple
platform concept.   Section 3(c) was moved from Section 5.  The standards for
a party's right to suspend have been revised slightly.  Also, Section 4(d)
includes a right by Enron to suspend prices specifically in the event of
mapping errors; this provision also relates to the termination right in
Section 13 with respect to mapping errors.

5. Section 4 has been rewritten to reflect the multiple platforms.

6. Section 5(b) has been revised to reflect that the parties should develop a
set of ground rules for operating and maintaining the Interfaces that will
govern the parties once they commence operations.

7. Section 6 has not been changed in any significant manner, except for
Section 6(d) with respect to commissions

8. Section 7 has been moved (it was previously Section 9) and reflects our
concerns that the means by which contracts are entered into with Enron are
clearly disclosed to Participants.

9. The parity section has been revised as we discussed -- essentially, Enron
shall use "commercially reasonable efforts to ensure parity"

10. The reps and warranties and covenants have not been substantively
revised, but separate reps, warranties and covenants are made by each party
(instead of including both parties reps/warranties/covenants in the same
provision).

11. Section 12 is new.  We felt that the Agreement did not clearly set forth
what would have to be done before the parties could start posting prices.

12. We have revised Section 13(a)(i) and (iii) and 13(b)(i) and (iii)
(termination events as we discussed); 13(a)(ii) and (b)(ii) are new.

13. Section 14 has been substantially revised, but is still confusing,
However, the idea is that the agreement include a single provision governing
confidentiality and that certain information that Enron is particularly
sensitive about will be kept confidential, while other information becomes
eSpeed's property at some point to do with as it wishes.  Any thoughts about
clarifying Section 14 would be appreciated.

14. The Indemnity has been revised to include a separate section for each
party ((a) and (b)), but we do not believe that the substance of the prior
provision was changed.

15. We need to give further thought to Section 16 and the provisions that
eSpeed provided to us (Sections 15(e), (f) and (g) in the prior draft).
While I have discussed this with Stephen and do not object to the point that
those provisions is trying to make, the language is a bit broad in places and
we need to spend more time with it to make sure that it does not conflict
with other provisions of the Agreement.

16. I have tried to reserve the right for the parties to obtain injunctive
relief, but this section needs expansion -- and I think Stephen had some
specific thoughts about what would not be subject to arbitration.

17. The Enron Covenant added as Exhibit H is not perfect, but it is
essentially what we had contemplated providing.  The Schedule A listing
Specified Products is also attached.  Therefore, the only Exhibit or Schedule
missing is Exhibit I, which is the commission structure.

Please feel free to call or send a message if you have any comments or
questions regarding the atttached.

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3817
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490


STEVE KEAN -  will be calling in.

If possible, can I get the call in number and passcode by close of business
Friday - Steve will leave for business on Sunday.     Thanks.

      Maureen

Please indicate below whether or not you plan to attend this meeting and
through what medium.

 Yes, I will attend in person _______

 By video conference from _______

 By conference call  ____X___

 No, I will not attend  _______

*  *  *

Please return this e-mail to me with your response by 12:00 p.m., Friday,
September 22.

Thank you,
Sherri


I am retracting my previous message.  I obviously do not know what I am
talking about!

SRM

To: Chris Germany/HOU/ECT@ECT
cc: Scott Mills/HOU/ECT@ECT, Thomas Engel/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Judy Townsend/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT,
Colleen Sullivan/HOU/ECT@ECT, Brenda H Fletcher/HOU/ECT@ECT
Subject: Re: Capacity question

All MDQ and negotiated rate and fuel should be entered on the Primary ticket.

d.n.

Chris Germany
05/04/2000 03:38 PM
To: Scott Mills/HOU/ECT@ECT, Thomas Engel/HOU/ECT@ECT, Dave
Nommensen/HOU/ECT@ECT
cc: Scott Goodell/Corp/Enron@ENRON, Judy Townsend/HOU/ECT@ECT, Dan
Junek/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT, Brenda H
Fletcher/HOU/ECT@ECT
Subject: Capacity question

I have fuel waivers on my CNG transport contracts.  I am entereing these fuel
waivers on the primary capacity deal in Sitara.  Do I need to enter them on
the secondary capacity deal ticket?

Also, I have an IT discount on one of my Tennessee contracts on gas flowing
from the Gulf (East Region) to CNG (Market East Region).  Which transport
capacity deal ticket should I enter the discount on?


Thanks for your help.

Tom

 -----Original Message-----
From: 	Superty, Robert
Sent:	Tuesday, January 15, 2002 2:25 PM
To:	Martin, Thomas A.
Subject:	RE: Dave Baumbach

Tom, tks for the update. I'll get him some Unify training this week

Bob

 -----Original Message-----
From: 	Martin, Thomas A.
Sent:	Tuesday, January 15, 2002 4:15 PM
To:	Superty, Robert
Subject:	Dave Baumbach

Bob,

I talked to Chris about the change of plans.  I am sorry that it did not work out but Dave has more knowledge of the Texas grid and he runs our Waha physical trading activities.  He works well with Mike and he is willing to do whatever we need him to do.  He is spending the rest of the week to suck as much out of Daren as he can.  If there is any training for the logistics systems that he can go to, he should do that as well.  If you have any other recomendations to get him up to speed on the Logistics side I sure would appreciate it.

Tom


After returning home and reviewing the material handed out at the PGE business review, there are two areas that I think I need to understand better.  The first is PGE's energy positions going forward and the financial exposures to changing prices.  The second is the rate case.  I would be happy to return to Portland to get a more in depth review with a much smaller cast of players.  I am open to suggestions from you.

Given the status of the divestiture process, Jeff wants to make sure he (and subsequently I) have a good handle on these two important issues.

Thanks!


This deal was constructed by Holli Krebs in mid-marketing - she just put it
under Bob's desk and trader i.d. She should be in the office shortly, and
I'll have her look over the changes made to the deal. I'll get back to you
soon.

Thanks,
Kate

Stephanie Piwetz   02/27/2001 06:34 AM

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

Subject: Deal 515420.01

Kate,
please check the following deal 515420.01, the cp has made changes to the
hours of the flow.  Please have Bob Badeer initial the changes if okay.
Thanks
Faxing a copy to 503-464-3740
Stephanie


Greg,   Attached is the language we propose to substitute for their proposed
language in item #4 of the interconnect agreement.


In order to clarify the memo regarding the reorganization of EECC, we want to
clarify that NEPCO, as a stand alone entity, will report to Larry Izzo inside
of EES.


Ray, couple of comments:
 a) Donahue is responsible for the portfolio management function but also
incorporate the idea of Jeff being responsible for ENA's "capital book" (ie)
managing existing deals and intimately involved in conjunction with Treasury
and the various origination groups of which finance transactions get or don't
get on our books;
 b) Has Fastow clearly put Defner in the ENA Treasurer role? - if so we
should also mention this in the note;
 c) Chuck Ward ( Generation Investments); Don Miller ( Merchant Generation);
 and d) with regard to commodity structuring ensure it is clear that they
will facilitate and structure the highest priority/value transactions across
the organization even though they report to Janet (ie) they don't just work
on East Origination deals.

Let me see the final before release. Make sure Mark is on side.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 07/12/2000
12:03 AM ---------------------------

Raymond Bowen
07/11/2000 03:01 PM
To: David W Delainey/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron
cc: Jeff Donahue/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Kay
Chapman/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Nicki Daw/NA/Enron@Enron
Subject: Draft organizational memo

Attached is a first cut of a memo.  Let me know if you have any comments.

Ray

Ext. 37433


Steve Stonestreet at TCO says they are releasing capacity for one year terms
at this time.  However, if Nov-March only capacity becomes available, they
will release it the last week of October.
Scott


Below, is an attachement of a Daily Risk Reporting Checklist for Book
Administration.  The checklist was developed as an aid in helping ensure
books are officialized.  If you have any suggestions on making this checklist
more comprehensive please advise.

Thank You

Joel
---------------------- Forwarded by Joel Henenberg/NA/Enron on 11/15/2000
12:03 PM ---------------------------

Connie Sutton@ECT
11/06/2000 03:13 PM
To: Joel Henenberg/NA/Enron@Enron
cc:

Subject: BA Daily Checklist


That is your offer at tonights settle?

 -----Original Message-----
From: 	Quigley, Dutch
Sent:	Thursday, January 10, 2002 3:07 PM
To:	Boyt, Eric
Subject:	RE: EEX Quote

settle came out at 2.878

 -----Original Message-----
From: 	Boyt, Eric
Sent:	Thursday, January 10, 2002 1:47 PM
To:	Quigley, Dutch
Subject:	EEX Quote

Attached are the volumes.....

I had a mid, volume adjusted , number of $2.869, with an adjustment of .069

The quote is not a long as I was thinking.

Let me know,

Eric

 << File: Bobwest - NX3 Offer (D.Quigley) 1.10.02.xls >>


----- Forwarded by Mark Taylor/HOU/ECT on 08/25/2000 11:47 AM -----

	RRichards@milbank.com
	08/25/2000 10:40 AM

		 To: craig.clark@enron.com, ryan.siurek@enron.com, clint.walden@enron.com,
kevin.d.jordan@enron.com, mark.taylor@enron.com,
brent.vasconcellos@enron.com, annmarie.tiller@enron.com
		 cc:
		 Subject: FW: Delta

-----Original Message-----
From:?? Richards, Raymond
Sent:?? Friday, August 25, 2000 6:02 AM
To:???? 'doug.mcdowell@enron.com'; 'gareth.bahlmann@enron.com';
'Fcochran@velaw.com'; 'acurry@velaw.com'; 'mary.cook@enron.com'

Cc:???? Richards, Raymond
Subject:??????? Delta

Attached below please find the following documents marked to show changes
from the last draft distributed:

(1)? Enron/Delta Swap Confirmation;
(2)? Enron/Citibank Swap Confirmation;
(3)? Enron/Delta Fiscal Agency Agreement; and

Enron/Citibank Fiscal Agency Agreement.?

Please note that the attached have not been reviewed by Citibank and
therefore remain subject to their comments as well as the continuing internal
review by Milbank, Tweed.?

 <<REDLINE.DOC>>  <<REDLINE.DOC>>  <<REDLINE.DOC>>  <<REDLINE.DOC>>

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

 - REDLINE.DOC
 - REDLINE.DOC
 - REDLINE.DOC
 - REDLINE.DOC


When: Thursday, October 18, 2001 6:30 PM-7:00 PM (GMT-06:00) Central Time (US & Canada).
Where: Memorial Park

*~*~*~*~*~*~*~*~*~*

<Embedded Microsoft Word Document>


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
11:26 AM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 02/07/2001 08:54:45 AM
To: vkamins@enron.com
cc:
Subject: Here's the typeset version

Vince,

Attached is a copy of the typeset version that I will be reading today.  I
will check to make sure that all the changes you gave me this weekend are
incorporated.  I will also be writing a 200 word summary for the paper
today and will pass that by you as well.

Have a great day.

john

p.s. I'll call Shirley about the revenue question I sent you yesterday.

 - 134martin-cx1.pdf

John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


Steve Kean is available on Dec. 5 from 9:30 - 11:30.

   Maureen McVicker
   Steve's Assistant

	Luke Amelang
	11/29/2000 09:45 AM

		 To: sally.beck@enron.com, robert.jones@enron.com, Cindy Skinner/HOU/ECT@ECT,
scott_yeager@enron.net, dreck@enron.com, Suzanne Brown/HOU/ECT@ECT, Michelle
Cash/HOU/ECT@ECT, Bill Donovan/EPSC/HOU/ECT@ECT, etilney@enron.com,
melissa.becker@enron.com, Gwynn Gorsuch/NA/Enron@ENRON, Elyse
Kalmans/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Brian
Schaffer/Corp/Enron@ENRON, Gerry Gibson/Corp/Enron@Enron, George
Wasaff/NA/Enron@Enron, Phil Lowry/OTS/Enron@ENRON
		 cc: patti.thompson@enron.com, sue_wadsworth@enron.net,
cyndi.alvarado@enron.com, ruth.ann.brown@enron.com, cindy.shaffer@enron.com,
Zulie Flores/Corp/Enron@ENRON, Maureen McVicker/NA/Enron@Enron, Christa
Aguilar/HR/Corp/Enron@ENRON, nina.garcia@enron.com, Hilda
Bourgeois-Galloway/Corp/Enron@ENRON, Karina Prizont/NA/Enron@Enron
		 Subject: Worklife Council Meeting

 There seems to have been a lot of confusion generated by the Worklife
meeting announcements I've been sending. For some reason the dates and times
I send are not the dates and times you all are receiving. At this point I'm
not sure how many, if not all, of you have the wrong info. The meeting is
scheduled for Dec. 5 from 9:30am to 11:30am in EB50M. There is no Worklife
meeting today, Nov. 29. I apologize for the confusion. Please let me know if
you are available to attend. Thanks, -Luke-


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I received the prospectus & roster just fine, and I'm looking forward to the
climb, I'm glad that last person cancelled. I'll be calling around to
possibly carpool also, I could either drive or catch a ride.
Thanks again,
          Steven Merriss


David and Jenny:

Attached is the form of services agreement that we are sending to NGPL for
review.  This draft resulted from several conversations with the commercial
team -- I think we are all pretty comfortable with this draft and how we have
handled the issues that we discussed on the phone before you sent your
revised draft.

We expect NGPL to take their time in reviewing this and that they will have
comments; we have reserved the right to make further comments, and I think we
are all going to take a fresh look at this document in a couple of days and
make sure we are happy with it.  Please review the attached and give me a
call with any comments or questions you might have so we can be prepared to
turn it again when we receive NGPL's  input.

Please note that the attached is not marked against the version you sent
down; I have not run that comparison, but can try to do so if it would be
helpful to you.

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3882A
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3393/3490
----- Forwarded by Travis McCullough/HOU/ECT on 06/07/2001 06:07 PM -----

	Travis McCullough
	06/06/2001 06:52 PM

		 To: David Forster/Enron@EnronXGate, Carl Carter/Enron@EnronXGate
		 cc:
		 Subject: Revised Agreement

this incorporates all of your changes; marked changes are my changes that you
have not seen yet

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3882A
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3393/3490


IntercontinentalExchange
Firm Power Price Bulletin
For Power Delivered on Friday, November 23, 2001
(Trade Date of Wednesday, November 21, 2001)
Click here to access index history.
* volume represents sell-side only *
 Hub 	 High 	 Low 	 Wtd Avg Index 	 Change ($) 	 Vol (Mwh)
 Cinergy 	 $17.50 	 $14.75 	 $15.47 	 -5.42 	 7,200
 Comed 	 $13.00 	 $13.00 	 $13.00 	 -3.00 	 800
 Entergy 	 $18.50 	 $16.50 	 $17.06 	 -3.26 	 11,200
 Nepool 	 $28.50 	 $28.25 	 $28.38 	 -3.62 	 3,200
 * Palo Verde 	 $22.00 	 $17.50 	 $19.99 	 +4.33 	 16,800
 PJM-West 	 $20.10 	 $19.90 	 $19.99 	 -5.47 	 33,600
 * SP-15 	 $23.95 	 $20.00 	 $22.75 	 +5.26 	 28,800
 TVA 	 $15.50 	 $15.00 	 $15.25 	 -5.08 	 2,400

                                    * Trade date of Tuesday, November 20th, 2001

For Power Delivered on Monday, November 26, 2001
(Trade Date of Wednesday, November 21, 2001)

* volume represents sell-side only *
 Hub 	 High 	 Low 	 Wtd Avg Index 	 Change ($) 	 Vol (Mwh)
 Cinergy 	 $21.00 	 $18.00 	 $19.14 	 +3.67 	 11,200
 Comed 	 $17.50 	 $17.00 	 $17.33 	 +4.33 	 2,400
 Entergy 	 $20.50 	 $18.00 	 $19.33 	 +2.27 	 8,800
 Nepool 	 $32.75 	 $31.75 	 $32.33 	 +3.95 	 2,400
 Palo Verde 	 $23.00 	 $20.00 	 $21.00 	 +1.01 	 6,000
 PJM-West 	 $25.15 	 $24.75 	 $24.90 	 +4.91 	 18,400
 SP-15 	 $24.50 	 $23.25 	 $23.90 	 +1.15 	 6,800
 TVA 	 $19.50 	 $17.00 	 $18.70 	 +3.45 	 4,000

Includes all trades done from 6 AM to 11 AM Central Prevailing Time on the trade date specified for financially firm power delivered during the on-peak hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM - 10 PM Pacific Prevailing Time for Western hubs) on the delivery date(s) specified.
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