---------------------- Forwarded by Steven J Kean/NA/Enron on 08/21/2000
08:00 AM ---------------------------
From: Mark E Haedicke@ECT on 08/15/2000 01:37 PM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject:

Per our conversation on coordination of our efforts on California and other
jurisdictions, we have developed the following training program:

1.    Anti-trust -- we have completed anti-trust training in Houston for
traders and have scheduled it in Portland and Calgary.

2.    Sales Practices -- this training has been completed in Portland and is
being scheduled in Houston and Calgary.

3.    Anti-manipulation -- this training has been completed in Portland, but
needs to be expanded to cover local law manipulation issues.  It also needs
to be scheduled in Houston and Calgary.

Also, the above training needs to be supplemented with training on local
power pool rules.  There is a similar program being prepared in London.  A
meeting is being scheduled so we can discuss these matters further.

Mark Haedicke


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

----- Forwarded by Debra Perlingiere/HOU/ECT on 05/30/2001 03:36 PM -----

	Judy Thorne/ENRON@enronXgate
	05/30/2001 09:19 AM

		 To: Debra Perlingiere/HOU/ECT@ECT
		 cc:
		 Subject: FW: ADDENDUM TO GISB as of 10-20-00.doc

Debra,

Please review the following Addendum from El Paso and work with Harry Gregory
to come to agreeable terms. His phone number is 713-420-3821.

Thanks,
Judy

 -----Original Message-----
From:  "Gregory, Harry" <Harry.Gregory@ElPaso.com>@ENRON
[mailto:IMCEANOTES-+22Gregory+2C+20Harry+22+20+3CHarry+2EGregory+40ElPaso+2Eco
m+3E+40ENRON@ENRON.com]
Sent: Wednesday, May 30, 2001 9:14 AM
To: 'judy_thorne@enron.com'
Subject: ADDENDUM TO GISB as of 10-20-00.doc

ADDENDUM
(Special Provisions ) Exhibit &B8)
For the Base Contract for Short-Term Sale and Purchase of Natural Gas
between
El Paso Merchant Energy, L.P.
and
___________________________________
Dated ______________

A.  In Section 1.2 insert &a recorded8 before the word telephone on the
second line.  Insert the word &recorded8 before the word telephonic on the
fifth line.  Add the following sections as 1.4 and 1.5:

1.4            Company shall at its expense, maintain equipment necessary to
regularly record Transactions on Transaction Tapes and retain Transaction
Tapes in such manner as to protect its business records from improper access;
provided Company shall not be liable for any malfunction of equipment or the
operation thereof in respect of any Transaction WITHOUT REGARD TO THE CAUSE
OR CAUSES RELATED THERETO, INCLUDING, WITHOUT LIMITATION, THE NEGLIGENCE OF
ANY PARTY, WHETHER SUCH NEGLIGENCE BE SOLE, JOINT, OR CONCURRENT, OR ACTIVE
OR PASSIVE.  No Transaction shall be invalidated should a malfunction occur
in equipment regularly utilized for recording Transactions or retaining
Transaction Tapes or the operation thereof, and in such event, the
Transaction shall be evidenced by the written and computer records of the
parties concerning the Transaction made contemporaneously with the telephone
conversation.

1.5       The parties agree not to contest or assert a defense to the
validity or enforceability of telephonic Transactions entered into in
accordance with this Contract under laws relating to (a) whether certain
agreements are to be in writing or signed by the party to be thereby bound or
(b) the authority of any employee of the party if the employee name is stated
in the Transaction Tape.

B.     Replace Section 2.25 as follows:

2.25            &Transaction Confirmation8 means a written verification of a
Transaction which either Buyer or Seller shall, from time to time pursuant to
the terms of this Contract, submit the Daily Contract Quantity, Delivery
Point(s), Price, Contract Period, and Receipt/Delivery Obligation.  Company
will only transmit Transaction Confirmations for Transactions that have a
term exceeding one calendar Month.

      Add the following at the end of Section 2:

2.27     &Buyer8 shall mean the party that agrees to purchase Gas as
evidenced by the Transaction Confirmation.

2.28            &Company8 shall mean El Paso Merchant Energy, L.P.
(&Company8).

2.29            &Contract Period8 means the term of any particular
Transaction agreed to by the parties as specified in the Transaction
Confirmation.

2.30            &Counterparty8 shall mean _________________________________.

2.31     &Credit Support Document8 shall mean, as to a party (&the First
Party8), a guaranty, hypothecation agreement, margin or security agreement or
document, or any other document containing an obligation of a third party
(&Credit Support Provider8) or of the First Party in favor of the other party
supporting any obligations of the first party under this Contract.

2.32            &Eligible Collateral8 shall mean (i) cash or (ii) a Letter of
Credit from a financial institution acceptable by the (&Beneficiary Party8).

2.33            &Futures Contract8 shall mean the standardized contract for
the purchase or sale of Gas that is traded for future delivery under the
applicable trading board,s regulations.

2.34            &Guarantor8 means, as to Company, El Paso Energy Corporation,
and as to Counterparty, _____________________________ [if applicable].

2.35     &Letter of Credit8 means one or more irrevocable, transferable
standby letters of credit from a major U.S. commercial bank or a foreign bank
with a U.S. branch office, with such bank having a credit rating of at least
&A-8 from S&P or &A38 from Moody,s.

2.26            &Material Adverse Change8 shall mean
________________________________[if applicable].

2.37            &NYMEX8 shall mean the New York Mercantile Exchange.

2.38            &Termination Payment8 shall mean ________________________[if
applicable].

2.39     &Price8 shall mean the amount or pricing mechanism agreed to by the
parties as specified in the Transaction Confirmation.

2.40            &Primary in-path8 shall mean Firm Transportation service
obtained directly from the respective Transporter.  This term specifically
excludes&Secondary8 and/or &Released8 firm transportation as those terms are
commonly used in the natural gas industry.

2.41            Receipt/Delivery Obligation8 shall mean one of EFP, Firm or
Swing as set forth in the Transaction Confirmation for a particular
Transaction.

2.42            &Rounding Amount8 shall be___________________ [if applicable].

2.43     &Seller8 shall mean the party that agrees to sell Gas as evidenced
by the Transaction Confirmation.

2.44     &Tax8 shall mean any tax levied, assessed or claimed to be due by
any Federal, State, County, Tribal, or Municipal Government or any other
governmental agency having jurisdiction to do so.

2.45            &Termination Payment Threshold8 shall mean
____________________________. [if applicable]

2.46            &Transaction8 means a particular, specifically agreed-to
purchase or sale of Gas for delivery or receipt to be performed under this
Contract, as evidenced by a Transaction Confirmation or by a recorded oral
telephone conversation where an offer was made by a party and accepted by the
other party.

2.47            &Transaction Tape8 shall be defined as a cassette tape(s) of
telephone recordings maintained by Company and/or the Counterparty for
verification and/or evidentiary purposes.

C.  The following paragraphs will be added to Section 5:

5.2       All gas delivered by Seller shall meet the quality and heat
specification of the  pipeline system and/or facilities which shall receive
the Gas at the Delivery Point(s) set forth in the Transaction Confirmation.
The unit of quantity measurements for purposes of this contract shall be one
MMBtu Dry.

5.3       BTU and volume measurements shall be made at the pressure and
temperature basis of the measuring pipeline in accordance with the provisions
of such pipeline,s then effective FERC Gas Tariff, or in event such pipeline
is not subject to FERC regulation, the applicable Gas transportation
regulations or contract provisions of such pipeline.

D.  Add the following language after the first sentence of Section 6,
designated as Buyer Pays At and After Delivery Point:

All such Taxes shall be paid by Seller directly to the taxing authority
unless Buyer is required by law to collect and remit such Taxes, in which
event Buyer shall withhold from payments to Seller an amount required to be
collected and remitted by Buyer.

      Add the following language to the end of Section 6 as a new paragraph:

In the event a national energy, BTU, consumption, or use tax shall be
imposed, both Buyer and Seller shall work to reasonably apportion said Tax,
taking into account the ability of either party to pass through all or a part
of such tax provided, however, that no Tax whether existing or future shall
render either party economically incapable of continuing its performance
hereunder.

E.   Replace the first sentence of  Section 7.1 to read as follows:
                On or before the 10th Day of the following Month,Seller shall
invoice Buyer for Gas delivered and received in the preceding Month and for
any other applicable charges, providing documentation acceptable in industry
practice to support the amount charged.
Add as Section 7.5:

7.5       Either party may withhold payments due to its election to exercise
its right to offset an equivalent amount due such party under any agreement
between the parties negotiated and finalized for the sole purpose of the sale
and/or purchase of natural gas so long as the payment withheld is due to a
netting of current production Month payments which are due on the same
calendar Day, in which case the party owing the greater aggregate amount
shall pay to the other party the difference in the amounts owed.  Upon either
party,s request, Buyer and/or Seller shall provide support documentation in
order to determine the final settlement amount due for each production
Month.  Each party shall exercise reasonable efforts to provide support
documentation that is inclusive of volume and price [by location] data for
the applicable production Month.

F.   Add to the end of Section 8.2:

In the event of any claim or litigation, at any time, concerning Seller,s
title to the leases, wells, Gas produced or liquid hydrocarbons recovered
from the Gas sold here under or the proceed from the sale thereof, Buyer
shall be entitled to suspend payments to Seller until such claims or
litigation of title is resolved to Buyer,s satisfaction.

G.  Add the following language to the end of Section 9.1:

Notices of interruption to Firm obligations may be provided verbally,
effective immediately and, upon request, confirmed in writing.

H.  Delete Section 10 in its entirety and replace with the following:

10.1     Events of Default.  In the event (each a &Default8) either party
(the &Defaulting Party8)

(i)enters into Bankruptcy;

(ii)has a liquidator, administrator, receiver, trustee, conservator or
similar official appointed with respect to it or any substantial portion of
its property or assets;

(iii)fails to make, when due, any payment required pursuant to this Contract
if such failure is not remedied within three (3) Business Days after written
notice of such failure is given to the Defaulting Party by the other party
(&Non-Defaulting Party8) and provided the payment is not the subject of a
good faith dispute;

(iv)fails to provide adequate assurance of its ability to perform all of its
outstanding material obligations to the Non-Defaulting Party under the
Contract or otherwise within a period not to exceed forty-eight (48) hours
(but at least one (1) Business Day) of a demand therefor when the
Non-Defaulting Party has reasonable grounds for insecurity;

(v)        suffers the occurrence of a Material Adverse Change; provided,
such Material Adverse Change shall not be considered an Event of Default if
the Defaulting Party establishes and maintains for so long as the Material
Adverse Change is continuing, Eligible Collateral to the Non-Defaulting Party
in form and amount acceptable to the Non-Defaulting Party;

(vi)       or the Guarantor of the Defaulting Party fails to perform any
covenant set forth in the Guaranty Agreement it delivered in respect of this
Contract; or if any representation or warranty made by such Guarantor in said
Guaranty Agreement shall prove to have been false or misleading in any
material respect when made or when deemed to be repeated; or if the Guaranty
Agreement expires or is terminated or in any way ceases to guarantee the
obligations of the Defaulting Party under this Contract; or if such Guarantor
enters into Bankruptcy;

(vii)      fails to establish, maintain, extend or increase Eligible
Collateral when required pursuant to this Contract; then the Non-Defaulting
Party shall be entitled to exercise the remedies as set forth in this Section
10.

In no event shall amounts actually recovered by a Non-Defaulting Party under
one subsection of this Section 10 be recovered under another subsection.

10.2            Liquidation.  Notwithstanding and in addition to any other
provisions of the Contract, and except as provided below, in the Event of
Default, the Non-Defaulting Party shall have the right, upon at least five
(5) Business Days prior written notice, to liquidate and terminate any or all
Transactions then outstanding between the parties (except to the extent that
in the good faith opinion of the Non-Defaulting Party certain of such
Transactions may not be closed out and liquidated under applicable law) at
any time and from time to time, and shall calculate, in a commercially
reasonable manner, a Settlement Amount for each Firm Transaction(s) as of the
time of its termination or as soon thereafter as is reasonably practicable
and shall net such Settlement Amount(s) in the manner provided for in Section
10.2.2.  This remedy of liquidation and termination shall not be available
when a party hereto fails to deliver or receive Gas due under a Firm
Transaction, the exclusive remedy for which is set forth in Section 3.

10.2.1&Settlement Amount(s)8 shall mean, with respect to a Firm Transaction
and the Non-Defaulting Party, the losses and costs (or gains), expressed in
U.S. Dollars, which the Non-Defaulting Party incurs as a result of the
liquidation, including, but not limited to, losses and costs (or gains) based
upon the then current replacement value of such Firm Transaction together
with, at the Non-Defaulting Party,s option, but without duplication, all
losses and costs which the Non-Defaulting Party incurs as a result of
maintaining, terminating, obtaining or re-establishing any hedge or related
trading positions.  The Settlement Amount shall be due to or from the
Non-Defaulting Party as appropriate.

10.2.2The Non-Defaulting Party shall set off (i) all such Settlement Amounts
that are due to the Defaulting Party, plus (at the Non-Defaulting Party,s
election) any or all other amounts due to the Defaulting Party under the
Contract against (ii) all such Settlement Amounts that are due to the
Non-Defaulting Party, plus (at the Non-Defaulting Party,s election) any or
all other amounts due to the Non-Defaulting Party under the Contract, so that
all such amounts shall be netted to a single liquidated amount payable by one
party to the other.  A party with a payment obligation shall pay such amount
to the other party within one (1) Business Day of such netting.

10.2.3 If an event of Default occurs, notwithstanding any contrary provision
of this Section 10.2, where a Default specified in Section 10.1(i) or (ii) is
governed by a system of laws which does not permit the liquidation of
Transactions to take place on or after the occurrence of the relevant Default
in accordance with the terms of this Section 10.2, the liquidation of all
outstanding Transactions shall automatically and without any notification
requirements take place at a time immediately preceding the occurrence of
such Default.

10.3       Set Off of Accounts.  If a Default occurs, as an alternative to
its rights under Section 10.2 and without prejudice to exercise of its rights
under Section 10.2 at any time, the Non-Defaulting Party may from time to
time set off any or all amounts which the Defaulting Party owes to the
Non-Defaulting Party (whether under this Contract or otherwise and whether or
not then due) against any or all amounts which it owes to the Defaulting
Party (whether under this Contract or under any other agreements between the
parties and whether or not then due).

10.4            Collateral Requirement/Termination Payment Threshold.  If at
any time and from time to time during the term of this Contract (and
notwithstanding whether an Event of Default has occurred) the Settlement
Amount that would be owed to a party in respect of all Transactions then
outstanding should exceed the Posting Party's Termination Payment Threshold,
such party (&Beneficiary Party8), on any Business Day, may request the other
party (&Posting Party8) to deliver Eligible Collateral in an amount at least
equal to the Settlement Amount in excess of the Termination Payment Threshold
(rounding upwards for any fractional amount in increments equal to the
Rounding Amount).  Eligible Collateral must be delivered within two (2)
Business Days of the date of such notice provided that notice be given before
12:00 Noon Central Time.  On any Business Day (but no more frequently than
weekly with respect to Letters of Credit and daily with respect to cash), the
Posting Party, at its sole cost, may request that such Eligible Collateral be
reduced correspondingly to the amount of such excess Settlement Amount
(rounding downward for any fractional amount in increments equal to the
Rounding Amount).

10.5            Security.  In order to secure all payment obligations of
Counterparty to Company hereunder, Counterparty shall cause its Guarantor to
execute and deliver to Company the Guaranty Agreement substantially in the
form attached as EXHIBIT &C8.  In order to secure all payment obligations of
Company to Counterparty hereunder, El Paso Energy Corporation shall execute
and deliver to Counterparty the Guaranty Agreement substantially in the form
attached as EXHIBIT &C8.

I.    Replace Section 11.3 with the following:

11.3     The term Force Majeure as used herein specifically excludes the
following occurrences or events:  (i) the loss, interruption, or curtailment
of interruptible transportation on any Transporter necessary to make or
accept delivery of Gas hereunder, unless and to the extent the same event
also curtails primary, in-path, firm transportation at the same point; (ii)
loss of markets or either parties, inability to economically use or resell
Gas purchased under this Contract; (iii) the depletion of Seller's reserves;
(iv) loss of Seller,s supplies unless such loss is occasioned by or lack of
pressure or failure of specific, individual wells or appurtenant facilities
in the absence of a Force Majeure event broadly affecting other wells or
facilities in the entire geographic area or; (v) economic hardship.  This
Section 11.3 is only applicable to Firm and EFP Transactions.

        Add as Section 11.6:

11.6     This Section shall apply only to EFP Transactions.  Force Majeure
shall also include the inability to transact futures trading for any reason
beyond the reasonable control of Buyer, including without limitation closing
of the NYMEX or applicable futures trading board, any refusal by the NYMEX or
applicable futures trading board to allow trading during normal trading
hours; failure of telecommunications lines or of computer or other equipment
utilized in trading; and other such causes.

Add as Section 11.7:

11.7     This Article 11 shall not apply to any Swing Transaction except for
penalties as described in 11.1.

J.   The following paragraph replaces Section 12:

            The term of this Contract shall be month-to-month until
terminated on thirty (30) days advance written notice by either party;
provided, however, that the provisions hereof shall survive termination of
this Contract and continue to apply to any Transactions entered into between
Counterparty and Company prior to the date of termination of this Contract
until such time as any and all such Transactions are completed or
terminated.  Notwithstanding the foregoing, the representations, warranties,
and indemnities set forth in this Contract will survive termination of this
Contract.

K.  The following paragraphs will be added to Section 13:

13.9     Any controversy or claim arising out of or relating to this Contract
or the breach thereof shall be settled by binding arbitration by three (3)
arbitrators in Houston, Texas, in accordance with the American Arbitration
Association Commercial Arbitration rules.  Judgment upon the award rendered
by the arbitrators may be entered in any court having jurisdiction thereof.
The prevailing party shall be entitled to its reasonable attorneys, fees.
Any monetary award shall accrue interest from the date of the breach to the
date of any judgment entered on the award at the prime commercial rate
charged on the date of the breach by CitiBank, N.A. New York, New York, plus
two (2) percent or at the maximum legal rate, whichever is less.  If a party
files a complaint in any court with respect to any matter subject to
arbitration hereunder, the defendant in such court action shall be entitled
to recover its reasonable attorneys, fees in connection with the court
action.  This arbitration provision shall survive termination of this
Contract.

13.10            SELLER AND BUYER CERTIFY THAT THEY ARE NOT &CONSUMERS8
WITHIN THE MEANING OF THE TEXAS DECEPTIVE TRADE PRACTICES-CONSUMER PROTECTION
ACT, SUBCHAPTER E OF CHAPTER 17, SECTIONS 17.41 ET SEQ., AMENDED (THE
&DTPA8).  THE PARTIES COVENANT, FOR THEMSELVES DTPA IS APPLICABLE, (A) THE
PARTIES ARE &BUSINESS CONSUMERS8 THEREUNDER, (B) EACH PARTY HEREBY WAIVES AND
RELEASES ALL OF ITS RIGHTS AND REMEDIES THEREUNDER (OTHER THAN SECTION
17.5555, TEXAS BUSINESS AND COMMERCE CODE) AS APPLICABLE TO THE OTHER PARTY
AND ITS SUCCESSORS AND ASSIGNS, AND (C) EACH PARTY SHALL DEFEND AND INDEMNIFY
THE OTHER FROM AND AGAINST ANY AND ALL OF THEIR AFFILIATES BASED IN WHOLE OR
IN PART ON THE DTPA, ARISING OUT OF OR IN CONNECTION WITH THE TRANSACTION
CONFIRMATION(S) SET FORTH IN THIS CONTRACT.

13.11            DISCLAIMER OF WARRANTIES.  THERE ARE NO WARRANTIES WHICH
EXTEND BEYOND EXPRESS WARRANTY OF TITLE SET FORTH HEREIN.  IN PARTICULAR,
THERE ARE NO OTHER EXPRESS WARRANTIES AND NO IMPLIED WARRANTIES, INCLUDING
ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

13.12      The terms of this Contract and any Transaction Confirmation(s)
thereof shall not be disclosed to any person or party except when the
disclosure is (i) required by law; (ii) requested by Buyer,s or Seller's
independent public accountants; (iii) required pursuant to a loan Contract;
(iv) required to be disclosed in connection with the prosecution or defense
of any litigation; or (v) is otherwise agreed in writing to be disclosed.

13.13   UCC - Except as otherwise provided for herein, the provisions of the
Uniform Commercial Code (&UCC8) of the state whose laws shall govern this
Contract shall be deemed to apply to all Transactions.  EXCEPT AS EXPRESSLY
SET FORTH HEREIN, SELLER EXPRESSLY NEGATES ANY OTHER REPRESENTATION OR
WARRANTY REGARDING THE GAS IT SELLS TO BUYER HEREUNDER, WRITTEN OR ORAL,
EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY REPRESENTATION OR
WARRANTY WITH RESPECT TO CONFORMITY TO MODELS OR SAMPLES, MERCHANTABILITY, OR
FITNESS FOR A PARTICULAR PURPOSE..

13.14            NOTWITHSTANDING ANY OTHER PROVISIONS HEREIN, THE PARTIES
HERETO WAIVE ANY AND ALL RIGHTS, CLAIMS OR CAUSES OF ACTION ARISING UNDER
THIS AGREEMENT FOR INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OR FOR LOST
PROFITS.  THIS PROVISION SHALL SURVIVE ANY TERMINATION OF THIS AGREEMENT.

EXHIBIT &B8
GUARANTY

This GUARANTY is made by El Paso Energy Corporation (hereinafter referred to
as the "Guarantor") having principal offices at 1001 Louisiana, Houston,
Texas 77002.  Guarantor enters into this Guaranty in consideration of its
wholly owned subsidiary, El Paso Merchant Energy, L.P., (the "Buyer"),
entering into one or more contracts for the purchase or sale of natural gas
(the &Contracts8) from           (the "Seller").  Pursuant to the terms of
the Contracts, the Guarantor hereby unconditionally guarantees prompt payment
to the Seller of such sums up to an aggregate limit of $           U. S.
Dollars that now are or may hereafter become due and payable to Seller,
including interest and expenses of all collection and reasonable counsel's
fees incurred by Seller by reason of the default of Buyer.

This Guaranty shall remain in full force and effect until the earlier of: 1)
the termination of the Contracts, 2)                                  , or 3)
thirty (30) days after Seller,s receipt of written notice of revocation of
this Guaranty from Guarantor.  Termination of this guaranty shall not
eliminate Guarantor's liability occurring under the Contracts entered into
prior to such termination, including any subsequent interest or late charges;
provided however, termination of this Guaranty shall relieve Guarantor of any
liability for transactions occurring after such termination including any
subsequent interest or late charges.

The Guarantor waives notice of acceptance of this Guaranty, notice of
transactions with Buyer or the amounts and terms thereof, notice of all
defaults or disputes with Buyer, and of the settlement or adjustment of such
defaults or disputes.  The Guarantor, consents to and waives notice of all
change of terms, the withdrawal or extension of credit or time to pay, the
release of the whole or any part of the indebtedness, the settlement or
compromise of differences, the acceptance or release of security, the
acceptance of notes, or any other form of obligation for Buyer's
indebtedness, and the demand, protest, and notice of protest of such
instruments or their endorsements.

The obligation of the Guarantor is a primary and an unconditional obligation
and covers all obligations of Buyer to Seller that arise under the
Contracts.  This obligation shall be enforceable before or after proceeding
against Buyer or against any security held by Seller and shall be effective
regardless of the solvency or insolvency of Buyer at any time, the extension
or modification of the indebtedness of Buyer by operation of law, or the
subsequent incorporation, reorganization, merger, or consolidation of Buyer
or any other change in the composition, nature, personnel, or location of
Buyer.

The Guarantor in executing this Guaranty represents and warrants to Seller
the following:

            1)the Guarantor is a corporation duly organized and existing in
good standing and has full power and authority to make and deliver this
Guaranty;

            2)the execution, delivery, and performance of the Guaranty by the
Guarantor has been duly authorized by all necessary action of its principals
and does not and will not violate the provision of, or constitute default
under, any presently applicable law or its organizational instruments or any
agreement presently binding on it; and

            3)this Guaranty has been duly executed and delivered by the
authorized officers of the Guarantor and constitutes its lawful, binding, and
legally enforceable obligation.

This Guaranty supersedes and terminates all prior guaranties issued by
Guarantor on behalf of Buyer.

IN WITNESS WHEREOF, this Guaranty has been duly executed by El Paso Energy
Corporation this 1ST day of                  , 200    .

                                       "GUARANTOR"

                                       By:
                                       Name:  C. Dana Rice
                                       Title:    Vice President & Treasurer

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************

 - header.htm


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
09/23/99 12:54 PM ---------------------------

Anita Fam
09/06/99 09:36 PM
To: Debbie Nicholls/LON/ECT@ECT, Nick Brown/LON/ECT, David Hardy/LON/ECT,
Matthew Nimmo/LON/ECT@ECT, Tim Poullain-Patterson/LON/ECT, Janine
Juggins/LON/ECT, Matthew Landy/LON/ECT, Kevin Sweeney/HOU/ECT@ECT, Kevin
Beasley/LON/ECT@ECT, Janice Moore/HOU/ECT, Michael A Robison/HOU/ECT@ECT,
Harry M Collins/HOU/ECT@ECT, Nony Flores/HOU/ECT@ECT, Joya Davis/HOU/ECT,
Mark - ECT Legal Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT, Michael L
Brown/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David A
Terlip/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Manuel
Gallego/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Victor
Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angel M Esguerra/SIN/ECT,
Darrell W Kinder@ENRON_DEVELOPMENT, Clement Abrams@ENRON, Stephen H
Douglas/HOU/ECT@ECT, Joong-Gie Hong/SIN/ECT@ECT, Jung-Ah Kim/SIN/ECT
cc: Alan B Aronowitz/HOU/ECT, Matthias Lee/SIN/ECT, Angeline Poon/SIN/ECT
Subject: New Singapore-based Attorney

All -

Just to let you know, a new attorney has joined 'Lonesome Ole Me' here in
Singapore as of yesterday.  His name is Matthias Lee and he will be providing
the support for the physical and financial trading side of things here in
Singapore as well as any general support which the folks here in Singapore
may require if they pertain to Singapore law issues.

For your info, Matt will be reporting to Alan Aronowitz.

Thanks,
Anita


Dear Body Shop Member:

During the UBS/Enron transition your Body Shop membership will continue without interruption.  We are working with UBS and Enron to transition payroll deductions and continue exterior door access to the Body Shop.

While we are finalizing these changes please continue your Body Shop membership.

Thank you,
The Body Shop


---------------------- Forwarded by Darron C Giron/HOU/ECT on 02/16/2001
11:48 AM ---------------------------

"Brent Wallace" <bwallace@zahrsecurities.com> on 02/16/2001 11:31:27 AM
Please respond to <bwallace@zahrsecurities.com>
To: "Chris Cooper \(E-mail\)" <chris@savatech.com>, "Darron. C. Giron
\(E-mail\)" <Darron.C.Giron@enron.com>, <LVela@aol.com>,
<melinda@federalflange.com>, <doug@cont-casing.com>, <greg@amveco.com>
cc: <dinoscar@mail.swbell.net>
Subject: Navy

 - 15call.jpg


Please call when you get a chance--415.782.7822.  pager = 888.916.7184.

Best,
Jeff


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

-----Original Message-----
From: PARKER, Isabel [mailto:isabel.parker@freshfields.com]
Sent: Tuesday, May 01, 2001 3:03 PM
To: 'Kay.Mann@enron.com'; gregorylang@paulhastings.com
Cc: ccampbell@kslaw.com; kent.shoemaker@ae.ge.com; VAN DUSEN, Nicholas
Subject: RE: GE guaranty, opinion of counsel and letter of credit

This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status.  Please notify
us immediately by reply e-mail and then delete this message from your
system.  Please do not copy it or use it for any purposes, or disclose its
contents to any other person:  to do so could be a breach of confidence.
Thank you for your co-operation.  Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email ITHelp@freshfields.com
if you need assistance.

Our credit documentation provides that Pegasus shall not cause any monies to
be released from the Turbine Escrow Account until all relevant documentation
has been executed and delivered, namely:

(i) GE consent
(ii) GE opinion
(iii) Turbine Contract
(iv) Security Agreement
(v) Promissory Note
(vi) Amended Salmon LLC Agreement
(vii) GE Parent Guarantee.

The lenders consequently expect to see an executed (faxed if necessary) copy
of all of the above (including the GE Parent Guarantee) prior to release of
funds from the Escrow Account.

Thank you
Isabel

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Tuesday, May 01, 2001 3:55 PM
To: gregorylang@paulhastings.com; isabel.parker@freshfields.com
Cc: ccampbell@kslaw.com; kent.shoemaker@ae.ge.com
Subject: GE guaranty, opinion of counsel and letter of credit

In conversations with GE, it is their understanding that their guaranty
will not be transmitted until there is a fed ref number tomorrow.  The
opinion letter will be faxed as soon as the GC is available, or Kent can
sign for Dan Rowley if that is acceptable.  DRowley can sign originals on
Thursday.

The LOC is in the works, and GE understands that 10% will be retained in
escrow until the LOC is delivered.

There will be three original opinions.  There is one original guaranty, and
I'm not certain of GE's willingness to give more than that.  Obviously,
there will be only one LOC.

Kay

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


My heartfelt thanks to every member of the team.  All the best. Jim

 -----Original Message-----
From: 	Fossum, Drew
Sent:	Wednesday, October 24, 2001 5:51 PM
To:	'CMoore@akingump.com'; 'rnuschler@akingump.com'; 'fkelly@gbmdc.com'; 'sstojic@gbmdc.com'; Porter, Gregory J.; Pavlou, Maria
Cc:	Derrick Jr., James; Walls Jr., Rob; Horton, Stanley; McCarty, Danny; Harris, Steven
Subject:	Transwestern Decision

Frank, Steve, Charlie, Robin, Greg and Maria:  CONGRATULATIONS on an outstanding result!  I don't think I've ever in my days as an outhouse and inhouse lawyer worked with a team that was so cohesive and effective.  That you guys did it with a group pulled together  from two firms as well as in house lawyers is doubly impressive.  We appreciate the long hours and sacrifices you all made to get  this thing ready and try it in such a short time period.  Your timing is impeccable, as having a little good news about Enron out in the marketplace is sorely needed right now!  Thanks again guys!  DF


The speaker introduced a bill that would:

Order the CA PUC to establish a "rate component" to permit the utilities to
recover its "net undercollected amount" over a period of ten years.  (Sounds
like there may be a haircut in there somewhere.)
Authorize the State Water Dept. to purchase power on behalf of utilities and
munis.
Order the CA PUC to create a separate rate component to cover the Dept.'s
cost of purchasing the power.
Authorize the Treasurer to issue debt, backed by ratepayers, to cover any
difference between the price the Water Dept. buys the power for and the price
that can be collected from ratepayers under the rate freeze.
Authorizes the State Director of Finance to "accept on behalf of the state
any tangible asset of an electrical corporation."  (Presumably the state is
looking to get something from the IOUs (say, the hydro assets) in exchange
for giving the utility it's "net undercollected amount."

The bill is long and haven't yet had a chance to review it in detail.  We're
faxing the bill.

The bill will be controversial and it is unclear who in the Legislature has
bought into it, though the Governor signaled his general support for this
sort of approach in a press conference last night announcing the results of
the power auction.

The Assembly is scheduled to have a hearing on the bill later today.

Will pass on more info as we get it.

Jeff


AGA for 2/28/01 is -101

Website information:
http://gasfundy.corp.enron.com/gas/framework/default.asp
Drop down Box to "Storage"
In-house Analysis
My files are the last three files.

When the dialog box asks to upadate links click "NO".


Here is a brief list of the projects I have worked on in the first quarter of
this year.  Just to let you know, I am technically in Mike MIller's IPP
origination group.  I moved over to this group last week.  I am still going
perform the same function as I did in CTG, but now from the IPP group.
Thanks!
Ben


Howard,

I filled the Energywest order at -0.36 for May basis.

You made $0.015 us/mm

Chris

See me to make sure I wrote it in properly


We will receive a new employee on Jan.17th 2000.
If possible we would like for his telephones and extensions
to be ready.
His name is Jose Marquez.
His locations are EB3130C and EB1968.

Any questions please call Kevin Moore  x34710

                                                                 Thanks
                                                              Kevin Moore


Greetings NESA / HEA Members!

Attached below for your review are flyers for upcoming NESA / HEA Sponsored
events.

Second Annual NESA / HEA Calgary Conference June 7 & 8 in Calgary, Alberta,
Canada.
Ziff Energy Group Gas Storage Conference June 22 in Houston, Texas

Please take a moment to review the attached flyers and make plans to attend
these events TODAY.  Contact Tracy Cummins at (713) 856-6525 or via email at
tracy.cummins@nesanet.org <mailto:tracy.cummins@nesanet.org>  with any
questions.

 <<FLYER 2001.doc>> 	 <<Email May 29 NESA.doc>>

To UNSUBSCRIBE from the NESA / HEA Member Email Blast list please respond to
this email with the word UNSUBSCRIBE typed into the subject field.  This
will preclude you from receiving any email blasts in the future, but hard
copies of the material will be sent to your attention.

 - FLYER 2001.doc
 - Email May 29 NESA.doc


Shelley, Just wanted to pass on to you, Becky Cantrell and I met
	with Alfredo today to review our discussions with Mr. Formaggio.
	We had a very good conversation and Alfredo may be calling in the future
	for more information.  If you have any questions, please let me know.
	Thanks. Lynn

 -----Original Message-----
From: 	Huertas, Alfredo
Sent:	Thursday, August 30, 2001 12:01 PM
To:	Cantrell, Rebecca W.; Blair, Lynn
Subject:	FW: Open Access in the USA - A visit
Rebecca/Lynn

Thanks for your time spent with Mauro. I am today and tomorrow in Houston, and I would like to have a chance to see you and briefly discuss the issues you touched with him. Mauro is sending me a memo with the topics by end of today.

tx,
-----Original Message-----
From: Mauro Formaggio [mailto:MFORMAGGIO@autorita.energia.it]
Sent: jueves, 30 de agosto de 2001 3:19
To: Huertas, Alfredo; Keenan, Amber; Greco, Fabio
Cc: Claudio Di Macco
Subject: Open Access in the USA - A visit

Dear Amber, Alfredo and Fabio,
many thanks for the opportunity of visiting Enron in Houston.
Your colleagues provided me with a great lot of information and advice.
Rebecca Cantrell and Lynn Blair were very kind and helpful, in sparing their time with me and in organizing other meetings with colleagues.
They are very fine and I appreciate.
Maybe we would discuss, should the occasion come, some of the aspects of open access in the USA and their appropriateness for the italian case.
Best Regards
Mauro Formaggio


EnronOnline
Trade Counts and Volume for May 29, 2001

			EXTERNAL		INTERNAL		TOTAL
COUNTRY	COMMODITY	CATEGORY	COUNT	QTY	COUNT	QTY	COUNT	QTY	UNIT OF MEASURE
Austria	Power	Physical	            11 	                10,144 	          -   	                           -   	            11 	                   10,144 	MWh
Belgium	Natural Gas	Physical	            14 	              935,000 	          -   	                           -   	            14 	                 935,000 	MMBtu
Canada	Natural Gas	Financial	            23 	         12,369,500 	         18 	              3,687,500 	            41 	            16,057,000 	MMBtu
Canada	Natural Gas	Financial Option	              1 	           1,168,500 	          -   	                           -   	              1 	              1,168,500 	MMBtu
Canada	Natural Gas	Physical	          362 	         15,307,317 	          -   	                           -   	          362 	            15,307,317 	MMBtu
Canada	Power	Financial	              4 	                10,782 	           2 	                          72 	              6 	                   10,854 	MWh (Canada)
France	Power	Physical	              5 	                38,106 	          -   	                           -   	              5 	                   38,106 	MWh
Germany	Power	Physical	            73 	              728,627 	          -   	                           -   	            73 	                 728,627 	MWh
Germany	Power	Physical Option	             -   	                        -   	           4 	                 711,000 	              4 	                 711,000 	MWh
Netherlands	Power	Physical	              1 	                43,800 	          -   	                           -   	              1 	                   43,800 	MWh
Norway	Power	Financial	            12 	              192,240 	          -   	                           -   	            12 	                 192,240 	MWh
Switzerland	Power	Physical	            16 	                26,852 	          -   	                           -   	            16 	                   26,852 	MWh
United Kingdom	Crude	Financial	            17 	           1,550,000 	          -   	                           -   	            17 	              1,550,000 	Barrel
United Kingdom	LPG	Financial	              1 	                  2,000 	          -   	                           -   	              1 	                     2,000 	mt
United Kingdom	Metals	Financial	          528 	                  6,860 	         78 	                        725 	          606 	                     7,585 	LME Registered mt Lot
United Kingdom	Natural Gas	Physical NBP	            67 	         11,993,925 	           2 	                 300,000 	            69 	            12,293,925 	MMBtu
United Kingdom	Oil Products	Financial	              4 	                20,000 	          -   	                           -   	              4 	                   20,000 	IPE mt
United Kingdom	Petchems	Financial	              1 	                  2,000 	          -   	                           -   	              1 	                     2,000 	mt
United Kingdom	Power	Physical	            13 	              846,720 	          -   	                           -   	            13 	                 846,720 	MWh
USA	Coal	Physical	             -   	                        -   	           2 	                          21 	              2 	                          21 	COAL-Tons/Barges/Mnth
USA	Crude	Financial	          282 	         13,005,000 	         81 	              3,420,000 	          363 	            16,425,000 	Barrel
USA	Crude	Financial Option	              6 	              300,000 	          -   	                           -   	              6 	                 300,000 	Barrel
USA	Crude	Physical	              5 	              465,000 	          -   	                           -   	              5 	                 465,000 	Barrel
USA	Gas Pipeline Capacity	Physical	              3 	                24,200 	          -   	                           -   	              3 	                   24,200 	MMBtu
USA	LPG	Financial	              2 	                30,000 	          -   	                           -   	              2 	                   30,000 	Gallon
USA	LPG	Physical	              1 	                15,000 	          -   	                           -   	              1 	                   15,000 	Gallon
USA	Natural Gas	Financial	       1,356 	       523,112,570 	       727 	          392,267,337 	       2,083 	          915,379,907 	MMBtu
USA	Natural Gas	Financial Option	            19 	         14,585,000 	           1 	              1,000,000 	            20 	            15,585,000 	MMBTU
USA	Natural Gas	Physical	       1,910 	         72,809,002 	         30 	                 724,197 	       1,940 	            73,533,199 	MMBtu
USA	Oil Products	Financial	            26 	           1,135,000 	           4 	                   60,000 	            30 	              1,195,000 	Barrel
USA	Power	Financial	            58 	           1,102,436 	           6 	                   33,257 	            64 	              1,135,692 	MWh
USA	Power	Physical	          712 	         10,559,778 	       192 	              4,768,613 	          904 	            15,328,391 	MWh
USA	Rate and Currency	Financial	             -   	                        -   	           4 	              9,500,000 	              4 	              9,500,000 	EUR/1
USA	Rate and Currency	Financial	             -   	                        -   	           5 	       1,545,000,000 	              5 	       1,545,000,000 	FX USD
USA	Rate and Currency	Financial	             -   	                        -   	           1 	                 400,000 	              1 	                 400,000 	GBP/1
USA	Weather	Financial	              4 	                       12 	          -   	                           -   	              4 	                          12 	Cooling Degree Day
 Total 			       5,537 		    1,157 		       6,694


Here is the latest presentation Don and I have put together.  I will be out
till Jan 2nd so have a good holiday.  Thanks
Ben


Tomorrow John will let you know when the conference call will be scheduled.

Tammie Schoppe
Enron Americas-Office of the Chair
Assistant to Louise Kitchen
713.853.4220 office
713.646.8562 fax
713.253.2131 mobile


None of your folks moved.

As ratings are not mandatory they have removed from the form.  I would encourag you to put it in supervisor comments.

Let me know if you need anything else!

 -----Original Message-----
From: 	Semperger, Cara
Sent:	Tuesday, July 17, 2001 11:02 AM
To:	Fitzpatrick, Amy
Subject:	Rankings

Are the numbers the same, or was their movement?

Are you going to publish a list with the numbers,  there was no place on the reivew form to put it.

C


Thank you for the reply.  We have no further comments.  Jim

 -----Original Message-----
From: 	Linnell, Elizabeth
Sent:	Tuesday, April 17, 2001 5:10 AM
To:	Derrick Jr., James
Cc:	Walls Jr., Rob
Subject:	RE: iBuyit - Need your input

No, these limits would only to apply to items in the electronic catalog, which wouldn't include outside services.  As it now stands, the system will be used for procurement of items like office supplies, catering, computers, etc.

Thanks!

	James Derrick/ENRON@enronXgate 04/16/2001 08:50 AM 	   To: Elizabeth Linnell/NA/Enron@Enron  cc: Rob Walls/ENRON@enronXgate  Subject: RE: iBuyit - Need your input

Is this meant to cover invoices from outside counsel?  If it is, please discuss the proposal with Rob Walls.  Thank you. Jim

 -----Original Message-----
From: 	Linnell, Elizabeth
Sent:	Monday, April 16, 2001 3:28 AM
To:	Derrick Jr., James; Buy, Rick; Fastow, Andrew S.; Donovan, Bill
Cc:	Harris, Stephanie J; Heathman, Karen K.; Maronge, Bridget; Garcia, Nina
Subject:	iBuyit - Need your input

Just a reminder that we're looking for your input on the proposal outlined below.  Thanks!

I'm out of the office, but am monitoring my e-mail.

Regards,
Elizabeth Linnell
----- Forwarded by Elizabeth Linnell/NA/Enron on 04/16/2001 03:24 AM -----

	Elizabeth Linnell 04/06/2001 09:27 AM 	   To: James Derrick/Enron@EnronXGate, Rick Buy/Enron@EnronXGate, Andrew S Fastow/Enron@EnronXGate, Bill Donovan/EPSC/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON  cc:   Subject: iBuyit - Need your input

The Corp. design of the iBuyit system is well underway.  We appreciate your initial support of the system and would like to solicit your input on some system details that will be custom to the Corp. deployment and may be used eventually for other business units' standards.  Bob Butts has approved the following request limits for Corp. Accounting, and we need to get your "OK" as well for implementation.  Please call me at x33896 if you have any questions or would like to discuss this proposal.

Request limits:  The system allows setup of graduated dollar limits for order amounts based on job classification, which are listed below, with some examples of items that might fit within each limit.  Requests with totals below these limits would flow through the system without any further authorization required.  Exceptions to these levels can be made on an individual basis, and those individuals will be identified as we get closer to implementation.

Level 1	Clerks/Sr. Clerks	$250		Routine office supplies, beverages, pager, computer keyboard
Level 2	Admins/Specialists	$500		Small furniture, larger supply orders, palm pilot
Level 3	Sr. Specialist		$5,00		Computer, fax machine, furniture
Level 4	Manager		$25,000
Level 5	Director/Sr. Director	$100,000
Level 6	Vice President		$250,000
Level 7	Managing Director	$500,000
Level 8	EVP			$1.0M
Please note that these amounts fall within the Enron standards for invoice approval authority.  In our meetings with Stakeholders and Change Agents, we got a clear message that lower ordering authorization was preferable.

Approval Flow:  The system allows approval flow to be customized to each department.  For example, Public Affairs could require a request for $650 placed by a clerk to flow first to an Admin for approval, then to a Sr. Specialist or higher for final issuance.  The Accounting department could require a request for $650 placed by a clerk to go directly to a Director for the first level of approval.  Under the limits proposed below, a $650 request by a Sr. Specialist would not be routed, as it would fall under the specified ordering authorized level.  As we get closer to the implementation date, we will work with the designated Stakeholders to design the approval flow for your departments.

Controls:  As with any system, a concentrated effort can bypass built-in controls.  As a control mechanism, we've proposed that SAP generate a periodic report so that cost center owners can conveniently track ordering activity.  The team is working on the best way to generate and deliver this report.

I appreciate your "OK" on the above, or any feedback you might have.

Regards,
Elizabeth Linnell


Duane,

Sorry I will miss you. I have a meeting with Chester already on my schedule.

Vince

ds64@cyrus.andrew.cmu.edu on 10/31/2000 03:40:40 PM
To: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
cc: "Chester S Spatt" <cspatt+@andrew.cmu.edu>, "Pierre-Philippe Ste-Marie"
<stemarie@icubed.com>
Subject: GSIA Visit

Vince,

This Friday during your visit I will be in California for a cousin's
wedding.  I am having miserable luck connecting with you.  However, while
you are at GSIA, Chester Spatt (one of my co-authors) would like to meet
with you if your schedule permits.  I am copying him on this email so you
can contact him directly. Please also let Peirre (who is also copied on this
email) know whatever you work out.

See you next time I hope,
Duane

********
Duane Seppi

Graduate School of Industrial Administration
Carnegie Mellon University
Pittsburgh PA  15213-3890

tel. (412) 268-2298
fax (412) 268-8896

email ds64+@andrew.cmu.edu


If Debbie is talking about the language she and I discussed late last week,
that is new credit language that has not yet gone in to any of the GTC's.

Stacy E Dickson
09/28/99 09:14 AM
To: Debbie R Brackett/HOU/ECT@ECT
cc: Mark - ECT Legal Taylor/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT
Subject: Re: EOL GTC's

Debbie,

I am not sure which language you are referring to.  Some of the GTC's have
language providing for the posting of a letter of credit by the counterparty
when the Enron entity makes a request to do so.  Mark Taylor drafted this
language.  I assume that it is the same as the financial language.  Please
let me know this e-mail does not answer your question.

Stacy


---------------------- Forwarded by Iona Maclean/LON/ECT on 17/11/2000 08:22
---------------------------

djcustomclips@djinteractive.com on 16/11/2000 18:27:47
Please respond to nobody@mail1.djnr.com
To: 216668@mailman.enron.com
cc:

Subject: Enron Reuters folder: UK: Minor metals - Cobalt bounces, rhodium
steadies.

UK:
Minor metals - Cobalt bounces, rhodium steadies.

11/16/2000
Reuters English News Service
(C) Reuters Limited 2000.

LONDON, Nov 16 (Reuters) - Cobalt finally rallied after a lengthy downturn
this week, while the rhodium price spike ran out of steam and antimony
continued to drift in thin trade, traders said.

COBALT REVERSES DECLINE
Cobalt prices finally reversed their recent steady decline this week, with
high-grade metal in particular boosted by a positive response to the latest
tender of stockpile material by the U.S. Defense Logistics Agency (DLA).

"We've seen higher bids from China in the last couple of days, and European
customers are also coming in at higher levels - it looks like the market has
turned," said one trader on Thursday. He quoted a range for Russian 99.3 per
cent material of $11.50-12.00.

Other traders said, however, that some cheap offers of Russian metal in the
$10.80-11.00 range were still in the market.

Swiss-based trader Glencore was the high bidder among five companies at the
DLA's November 15 tender for 597,992 lbs of over 99.9 percent pure cobalt
cathodes.

The company offered prices ranging from $11.04 to $13.02 per lb for 17 lots.

Other bidders were Enron Metals and Commodities, Voss Metals, SFP and
Carolmet.

Despite the high cobalt content in the Gecamines cathodes offered by the DLA,
the material attracts a discount to current prices for Inco and Falconbridge
material, traders said.

"It's Congolese material that's been out of production for about seven years,
and a lot of the superalloy users have amended their specs lists in the
meantime," said one.

"Even though chemically it's perfect for their needs, a number of them don't
have official approval to use it, and that will take a while to come through,"
he added.

High-grade prices on Australian producer WMC Ltd's website,
www.wmc-cobalt.com, jumped by $2 in the space of 24 hours.

The company reported a sale at $13.25 a lb - the lowest level since late July
- on November 15, but subsequently did business up to $14.60 and was offering
at $15.25, basis November, CIF main Asian ports or delivered works Europe and
North America by Thursday. Total sales for the week to date exceeded 50
tonnes.

"The price gets to a point where it's so low that people can't hold back any
longer, and once it starts going up buyers come in for fear of missing the
boat," said another trader.

ANTIMONY STEADY, TRADE THIN

Antimony prices were steady in thin trade this week, with 99.65 percent
material indicated in a range of $1,450/1,550 a tonne.

Cheap material currently on offer, although the antinony content is 99.65
percent, often contains sufficient quantities of impurities such as bismuth to
make it unusable for trioxide producers, consumers said.

"We've seen offers around $1,450 but to get good-quality Hunan material
trioxide producers would have to pay around $100 more than that," said one.

The market is unlikely to feel the full impact of the Chinese clampdown on
fresh export licenses for this year until stocks already in Europe have been
used up, traders said.

"There's a lot of material either in Rotterdam or afloat - once this is used
up I think we'll see prices pick up again."

Export licenses for 2001 are expected to be granted around the end of January,
with fresh metal unlikely to be shipped until the following month, traders
said.

RHODIUM PRICES STABILISE

Rhodium prices softened marginally as the market stabilised following last
week's sharp short-covering rally, traders said.

"We've seen a slight easing back, though there are plenty of Japanese
companies lining up to take material on spot or long-term contracts if they
don't feel they can trust the Russian side of things," said one.

Spot free-market rhodium was quoted at around $2,050/$2,150 an ounce, down
some $50 from last week's highs, although traders said spot material remains
tight.

Sales of rhodium to auto-makers are up strongly in 2000, boosted by higher
vehicle production, tighter emissions legislation and changes in the platinum
group metals mix in autocatalysts, Johnson Matthey said this week in its
Platinum 2000 interim review.

On the supply side, Russian supplies of rhodium were seen totalling 280,000
ounces in 2000, more than four times last year's total, JM said. The precious
metals refiner forecast total global supplies of rhodium to jump 236,000
ounces to 737,000 ounces this year, with South African supplies seen rising to
434,000 ounces.

Folder Name: Enron Reuters folder
Relevance Score on Scale of 100: 80

______________________________________________________________________

To review or revise your folder, visit http://www.djinteractive.com or
contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com
or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511
or contact your local sales representative.)
______________________________________________________________________

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


I got a new cell phone today and wanted to make sure that I passed out the
new number.  As of next week, my 832 number will no longer be working.

My new cell phone number is 713-202-9588


FYI this is what Joe Hillings was asking for.
---------------------- Forwarded by Ricardo Charvel/NA/Enron on 02/18/2000
01:43 PM ---------------------------

Ricardo Charvel
02/18/2000 01:43 PM
To: Joe Hillings/Corp/Enron@ENRON
cc:
Subject: Re: Mexico-Secretary Richardson Is Leaving For A Mexico Meeting With
Minister Tellez Today-Need Talking Points ASAP

Joe,

I am sorry I missed your call.  Max and I had a conference call with Chris
Long on Monday in which we touched upon some of these points but I think that
it is important for us to insist in the following:

1 Regulate the pricing of infrastructure and services for true
undiscriminated open access. To enhance the possibility of having a
competitive natural gas markets through importing gas in northern Mexico it
is necessary to set a regulated price for the use of infrastructure which is
in hands of a monopoly or where there is no alternative..  Currently Pemex is
able to offer discounts in infrastructure (transport) and other services in a
way which effectively creates barriers of entry to any competitor even in the
marketing segment of the business.

2. Promote complete unbundling between Pemex affiliates in the gas business.
There has to be a true unbundling between Pemex Production (PEP) and Pemex
transport and marketing (PGPB).  Currently anyone that wants to buy gas has
to do so from the PEMEX marketer/transporter (PGPB) instead of being able to
buy gas from the producer, pay for the transport etc.  in a transparent way
and within real competitive circumstances.

3. Revise the 1996 natural gas pricing directive.  In this pricing formula
Pemex  fixed a differential that is subtracted from the Tetco-Valero Price.
This differential changes according with the conditions of the market.  The
conditions of the market have changed since 1996 making this fixed
differential a true barrier of entry for competition.  The differential
should be included as a variable that is subject to real market conditions.

In conclusion we could say that despite apparent changes in the natural gas
industry in Mexico, the truth is that there are many aspects within the way
in which Pemex operates that can be changed that would allow for true
competition.  There is still a lot of work to do in these matters.  We work
closely with the Mexican regulators in relation to these matters.

Best,

Ricardo Charvel
Director of Strategy
011-525-258-9933

P.S. Maybe Secretary Richardson could retake the subject o Hedging Mexican
oil by Enron and others in order to guarantee Mexico a stream of income that
otherwise might not be there if prices fall.


Dear John:
I hope that you have survived the flood and things are OK.
I am sending you my resume along with this email.
I hope to hear from you really soon. Please call me if you have any
questions.
Thank you very much for your time. My best to Angelica.
Yours, ameer.
 - My Resume latest 1422.doc


Sophie,

Thanks. I shall discuss this with Steve as soon as we have the nomination
form signed.
I can do it while he is stioll here at Houston.

Vince

Sophie Kingsley   09/05/2000 10:37 AM

To: Dale Surbey/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Michele Small/LON/ECT@ECT
Subject: Re: Confidential

We need to get a nomination form signed by you & Vince.  Once we have this
you guys can discuss the figures with Steve and once everything is agreed we
will get the nomination form signed by Sherriff and the agreement drawn up.

I will get one up to you today / tomorrow.

Dale Surbey
05/09/2000 15:33
To: Vince J Kaminski/HOU/ECT@ECT
cc: Sophie Kingsley/LON/ECT@ECT, Michele Small/LON/ECT@ECT

Subject: Re: Confidential

Sophie- what do we need to do to implement this?

Vince - do you want to go through this with Steve while he's in Houston?

- Dale

Vince J Kaminski
30/08/2000 23:43
To: Sophie Kingsley/LON/ECT@ECT
cc: Dale Surbey/LON/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Michele
Small/LON/ECT@ECT

Subject: Re: Confidential

Sophie,

I think it's a fair deal.

Vince

Sophie Kingsley   08/30/2000 11:49 AM

To: Dale Surbey/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Michele Small/LON/ECT@ECT
Subject: Re: Confidential

Both,

Thanks for your comments and comparisons, it is good to get context.

Based on your comments here would be my proposal

o63,500 basic salary -
o15K kickers for each of the 2 years - These are paid as a lump sum on each
anniversary guaranteed.  Therefore guaranteed salary is effectively o78,500 -
this is completely separate and in addition to any performance bonus
Increase the value of options to o60K  to vest 1/3 as before - which leaves a
1/3 ($20,000 ) hanging out there at the end of the contract.

Just FYI - Anjam is currently on o68,000 but does not have an agreement, so
this would effectively put a 10.5K gap between the two.

Let me know your thoughts.

Dale Surbey
30/08/2000 16:09
To: Sophie Kingsley/LON/ECT@ECT
cc:

Subject: Re: Confidential

Sophie,

Here's Vince's comments on your proposal for Steve.  Also, what's a 2-Yr
Exec?  How do the kickers work - are they basically a guaranteed minimum
bonus or incremental bonus?

- Dale

---------------------- Forwarded by Dale Surbey/LON/ECT on 30/08/2000 16:10
---------------------------

Vince J Kaminski
30/08/2000 14:21
To: Dale Surbey/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT

Subject: Re: Confidential

Dale,

Thanks for your message.
I don't know the labor market  in London that well but here the market
for quants is very hot.  Steve is in my view an exceptionally talented person
and I would go an extra mile to retain  him long-term for the company.

I would adjust the base salary or the kicker upward a bit.
o62,000 Basic  is what Anjam is receiving currently  (if I remember
correctly). Steve has a much higher value
to Enron than Anjam.

Vince

Dale Surbey
08/30/2000 07:49 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Confidential

Vince,

This is the package HR is proposing for Steven.  What do you think?

- Dale

---------------------- Forwarded by Dale Surbey/LON/ECT on 30/08/2000 13:50
---------------------------
Sophie Kingsley   29/08/2000 20:32

To: Dale Surbey/LON/ECT@ECT
cc:

Subject: Confidential

Sorry Dale, long day, here are the proposed numbers

2 Year Exec
o62,000 Basic  ( currently o55K )
o10K each year kickers
$50,000 worth of options to vest 1/3 1/3 1/3

Let me know what you think.

Regards

Sophie


FYI.  Is there a conference call scheduled for today, and is Boyd available
tomorrow?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/13/2000 09:05
AM ---------------------------

	From:  Gregg Penman                           06/13/2000 07:50 AM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: Revised RM Policy

Per my voice mail, will you please take a quick look at my edits to Vlady's
draft risk management policy attached below.  I don't think any of them are
problematic, but Vlady has some concerns mainly because the base Enron Corp.
risk management policy was used as the template and therefore I am
effectively making edits to it.

I will be leaving the office today around 11:00 so I want to turn this to
Peoples before then if possible.  On any other business, I will be
unavailable from 1:30 to probably 3:00 today, but can be reached via pager
800-980-1771 or cell phone 312-925-8888 at any other time.

As always - thanks for your help.

Gregg
---------------------- Forwarded by Gregg Penman/Corp/Enron on 06/13/2000
07:45 AM ---------------------------
To: Vladimir Gorny/HOU/ECT@ECT
cc:
Subject: Re: Revised RM Policy

Some comments on your comments:

Section II: I don't like the title "Commercial Development Manager" but
rather "Risk Manager"
Response:         The title Commercial Development Manager comes from the MEH
Operating Agreement.  We can amend the LLC Agreement  if necessary, but it
seems burdensome since the title is only a formality.  However, as currently
written, the Commercial Development Manager is the person responsible for
managing the daily business, i.e. similar to a desk director.  In order to
maintain control of this position, it can only be filled by an Enron nominee
and will report directly to the MEH General Manager, Laura Luce of Enron.

Section VII: Majority of the wording came initially from attorneys, I would
recommend confirming that.
Response:          I will run this by the attorneys.  However, from a
technical perspective, Section VII refers to employees of MEH.  No one in the
Chicago office is an employee of MEH, but rather we all remained employees of
our respective organizations.  I will ask the attorneys if we need to limit
all Chicago based employees, both of Enron North America and Peoples Energy
Resources.

Section VIII: Who is the General Manager of MEH?
Response:          As mentioned above, Laura Luce, Vice President of Enron
North America
  Is Enron North America Corp. a legal entity?
Response:          Yes, Enron North America Corp. replaced Enron Capital
Trade and Resources as the Wholesale business of Enron Corp.  Unless you know
something different, I believe that to be a true statement.

Let me know if any of my responses don't make sense or you still have any
questions.  I am still going to try to get this out by 10:00 or so.

Gregg

To: Gregg Penman/Corp/Enron@ENRON
cc:
Subject: Re: Revised RM Policy

Policy Comments:

Section II: I don't like the title "Commercial Development Manager" but
rather "Risk Manager"
Section VII: Majority of the wording came initially from attorneys, I would
recommend confirming that.
Section VIII: Who is the General Manager of MEH?
  Is Enron North America Corp. a legal entity?

Vlady.

	From:  Gregg Penman @ ENRON                           06/12/2000 02:03 PM

To: Vladimir Gorny/HOU/ECT@ECT
cc:
Subject: Revised RM Policy

Vlady - As we discussed, I am attaching my revisions to your initial draft.
They are mainly cosmetic attempts to make the RM Policy terms consistent with
the MEH Operating Agreement and separate MEH from any behind the scenes
reporting or controls that ENA chooses to place on Richard/MEH.  Let me know
if you have any concerns about my edits.  I would like to send this to
Peoples end of day today.  I will follow up with Structuring to find a body
to model the underlying asset position.

Thanks - Gregg


Joe,

I have slotted you 90 minutes w/Greg on Wednesday @ 4:00 p.m.  Greg is
scheduled to participate in a Houston conference call @ 5:30 p.m.  You guys
are connecting again for dinner.  Please let me know the time and location
for dinner on Wednesday night.  Also, Greg says his schedule is open enough
that he would like to hang out on the floor w/you and your guys.  He will be
officing over by John Sherriff and the mobile number he's carrying is +44
7901516638.

Many Thanks,

Liz Taylor


Sara:

Thank you again for forwarding me an information on financial settlements.

You were working on the Master Log of all counterparties that had financial trades with Enron that would include contract types (ISDA, etc.), termination conditions, and contract numbers. Could you please forward me this document at your convenience. Should you have any questions please don't hesitate to contact me at X 3-4305.

Best regards,
Elena

Elena E. Chilkina
Enron Americas
713.853.4305

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Tuesday, January 29, 2002 4:03 PM
To:	Chilkina, Elena
Subject:	FW: Co 364 AR Redlist Updated 1/24/02

Here's my source for financial settlement information.  Keep in touch.  Thanks.  Sara

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490

 -----Original Message-----
From: 	Miroballi, Angelo
Sent:	Friday, January 25, 2002 9:45 AM
To:	Shackleton, Sara
Subject:	Co 364 AR Redlist Updated 1/24/02

 << File: ARREDLIST.xls >>


Unbelievable!  Thanks


All:  Do you know anything about "Enovate"  and whether we are preparing swap
documentation for it?  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 10/03/2000 09:21 AM -----

	Steven Curlee@ENRON
	09/28/2000 09:29 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: FW: Enovate/PEC ISDA Materials

Sara, I am forwarding this to you because as you will notice your last name
has been misspelled.  I have been speaking with Peoples recently about the
potential sale of some financial options via Enovate.  This has brought up to
issue of the ISDA agreement.  I don't know if you are the one working on this
specific ISDA, but I got your name off a document showing you as the person
working in general on ISDA agreements between Enovate and third parties.

I will call shortly to insure you receive this, and one more to follow, and
that you are the appropriate person.  If you need to reach me, my extension
is 36900.

Thanks,

Steve
---------------------- Forwarded by Steven Curlee/Corp/Enron on 09/28/2000
09:19 AM ---------------------------

b.marozas@pecorp.com on 09/27/2000 05:37:59 PM
To: Sara.shackelton@enron.com
cc: Steven.Curlee@enron.com

Subject: FW: Enovate/PEC ISDA Materials

Sara,

We were trying to finalize the ISDA between PEC and Enovate.
Fred is going to be out of the office until Thursday, but I wanted to
forward the ISDA information he has been working on.
Based on the ISDA materials attached, do you know how close (best quess:
number of days, weeks or months) we are to finalizing the contract?

Thanks,
Brian

 <<MEH Schedule to Master Agreement v.1.doc>>  <<MEH-PEC Paragraph 13 to
Credit Support.doc>>

 <<MEH-PEC ISDA.doc>>  <<MEH-PEC Credit Support Annexy-bi.doc>>

 <<MEH-PEC Paragraph 13 Exhibit A.doc>>

  ----------
  From:  Jacobsen, Fred
  Sent:  Tuesday, September 26, 2000 10:43 AM
  To:  Marozas, Brian; Huprikar, Aparna
  Cc:  Nassos, John G.; Pokorny, Judy
  Subject:  Enovate/PEC ISDA Materials

  Attached please find drafts of the following ISDA documents
to be entered into between Enovate, L.L.C. and Peoples Energy Corporation:

  1. Schedule to Master Agreement
  2. Paragraph 13 to Credit Support Annex
  3. Exhibit A to Paragraph 13 to Credit Support Annex
  4. ISDA Master Agreement
  5. ISDA Credit Support Annex.

  Brian, please forward to me the contact information for the
person handling the negotiation of these documents on behalf of Enron.
Thank you, Fred.

  <<File: MEH Schedule to Master Agreement v.1.doc>><<File:
MEH-PEC Paragraph 13 to Credit Support.doc>>

  <<File: MEH-PEC ISDA.doc>><<File: MEH-PEC Credit Support
Annexy-bi.doc>>

  <<File: MEH-PEC Paragraph 13 Exhibit A.doc>>

----------------------------------------------------------------
The information transmitted is intended only for the person
or entity to which it is addressed and may contain confidential
and/or privileged material.  Any review, retransmission,
dissemination or other use of, or taking of any action in
reliance upon, this information by persons or entities other than the
intended recipient is prohibited.   If you received this in error, please
contact the sender and delete the material from any computer.

 - MEH Schedule to Master Agreement v.1.doc
 - MEH-PEC Paragraph 13 to Credit Support.doc
 - MEH-PEC ISDA.doc
 - MEH-PEC Credit Support Annexy-bi.doc
 - MEH-PEC Paragraph 13 Exhibit A.doc


Congratulations on a job done well in a short period of time.  Your note of thanks to everyone was a nice one.   I am sure that the team appreciates your leadership.  --Sally

-----Original Message-----
From: Stock, Steve
Sent: Monday, January 14, 2002 8:31 AM
To: DL-IT Front Office; Ballmer, Charles; Barber, Michael; Chitradurga, Sundar; Harmon, Kenneth M.; Henry, Jane Hilburn; Luu, Duong; Nat, Steve; Nommensen, Dave; Ogden, Arlene; Poston, David; Powell, John D.; Ramesh, Ganapathy; Rao, Ramesh; Ray, Edward; Schomer, Chris; Tang, Mable; Warner, John; Wei, Zhiyong
Cc: McAuliffe, Bob; Webb, Jay; Perlman, Beth; Rub, Jenny; Johnson, Jeff; Greig, Iain; Smith, Regan M.; Kitchen, Louise; Pickering, Mark; Piper, Greg; Beck, Sally
Subject: Estate Migration
Importance: High

The Estate version of the systems were commissioned successfuly onto Estate hardware this weekend with the users completing their testing on sunday, and it looks as though we are in good shape for doing the same for NetCo this week.

Just a few weeks ago there was a lot of doubts that it could be done, but thanks to a great display of team work, and just plain hard work, with many late nights (and a few sleep overs....), we met our first major milestone!!!!!

Thanks for the outstanding efforts over the last two weeks, that made this weekend possible.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />best regards

Steve


Kimat, I added TRCO meter 4091 to deal 30512.  Please do whatever crazy
things you Economics people do.

All you other folks, we will be delivering a total of 3503 for the month of
March to this meter.  We don't even need to chat with NYPA about this either.


Outstanding!  I'm in Houston on Thursday, flying to the big O on the 8:30 pm
flight.  I'd love to get together for dinner around 5:00 or so if that works
out for you guys.  Any chance of getting together with both of you?  DF

Mark Schroeder@ECT
07/10/2000 04:24 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Houston

Flying in to Houston with Mary on Thursday afternoon, and back to London on
Saturday p.m.  Any chance of seeing you, e.g., an early dinner on Thursday?
mcs


FYI
---------------------- Forwarded by Chris Germany/HOU/ECT on 02/23/2001 07:35
AM ---------------------------
From: Joan Quick on 02/22/2001 10:55 PM
To: Phillip Ballard/NA/Enron@Enron, Scott Josey/Corp/Enron@ENRON, Jesus
Melendrez/Corp/Enron@Enron, Brian Otis/NA/Enron@Enron, Teresa G
Bushman/HOU/ECT@ECT, Shirley A Hudler/HOU/ECT@ECT, Lisa Best/Corp/Enron, Pam
Becton/HOU/ECT, Tricia Spence/HOU/ECT@ECT, Mark Castiglione/Corp/Enron@ENRON,
Don Rollins/HOU/ECT, Bradford Larson/HOU/ECT@ECT, George
Weissman/HOU/ECT@ECT, John Grass/Corp/Enron@ENRON, Gary Bryan/HOU/ECT@ECT,
Melissa Graves/HOU/ECT@ECT, Charles H Otto/HOU/ECT@ECT, Chris
Germany/HOU/ECT@ECT, Lia Halstead/NA/Enron@ENRON, Walt D
Hamilton/HOU/ECT@ECT, Craig A Fox/HOU/ECT@ECT, Shirley A Hudler/HOU/ECT@ECT
cc:
Subject: St. Mary's VPP - Texas Gas Operational Flow Order [OFO]

St. Mary's gas flows on Texas Gas [TGT].

On January 26th, TGT issued a Critical Notice, that in essence states that
they will not accept a nom to flow gas if it doesn't meet certain pipeline
spec criteria - they will not accept gas over 1050 Btu content.  St. Mary's
gas is around 1085 Btu.  Thus, this gas will have to be processed at the
downstream Eunice Plant, or it will be shut in, starting either Monday the
26th, or March 1st - this is uncertain right now.  I am working with Charlie
Otto [Fred's group] and Jay Hartman/Brad Strong to put a processing contract
together.  Charlie has/or is working on a processing contract with Hunt
[operator] and this contract will be pretty much the same as Hunt's
processing contract.  Since gas HAS TO be processed in order to flow, there
is not much negotiating that will be done.

Since the price of gas is high [and producers do not want to process] , in
the last couple months, there have been several pipelines to issue OFO's re
Btu content.  This is the first time that I know of that this has ever been
such an issue.

Terms of the processing contract:  $0.10 fee, shrink/PVR will be about 12%,
producer keeps 100% of the NGL's.  Per Charlie, he thinks that this 12%
shrink/100% liquids equates to a $0.05 or $0.06 loss.  Thus, the cost of
processing is expected to be around $0.15 to $0.16.  The processing contract
will be month to month and used only when it is mandatory under the OFO.

St. Mary's will be responsible for all fees, and shrink.  As an example, if
100 is flowing at the wellhead, and 60 is VPP.  then, there will be 60 as
VPP, 12 as PVR/PTR [shrink], and 28 as excess gas.

St. Mary's would like the processing contract in ENA's name, since ENA should
have title to the gas as it goes thru Eunice, and would just reimburse ENA
for the 10 cent fee, or any other actual applicable fees.  Teresa - can you
put something together re this reimbursement.  Charlie sees no problem in
putting this in ENA's name, if someone sees an issue with this, please let me
know ASAP.

George, Melissa, Lia - we will need to start nom'ing PVR/PTR.

Chris Germany - do we need a PTR contract on TGT?

Teresa - per the Production & Delivery Agrmt, it states that St. Mary's
cannot process their gas.  We will need a waiver to this section 4, for the
time period that processing is mandatory.

Lia, George, John - the OFO notice came out on January 26, and I heard about
this via Charlie today, is there some way in the future we can be notified
more quickly about possible issues re the flow of any of our VPP gas?

Charlie will get his first draft of the contract on Friday and will work with
myself and Jay/Brad to get this put together on Friday, in case this OFO does
go into effect on Monday.

Anyone with any questions or concerns, please contact me immediately.

joan


Concur Expense (XMS) Upgrade!

On July 2, 2001, Enron,s Corporate Expense Management Solution will undergo
an upgrade to version 6.0.2.
The Integrated Solution Center (ISC) has developed a transition plan
containing several important deadlines affecting
all XMS users.

       Transition Schedule

Important Date #1 - Monday, June 18th
? American Express transactions will no longer be loaded into the current XMS
system starting June 18th.  Beginning June 18th, all AMEX transactions will
be loaded into the new Concur Expense (XMS) system.
?  Beginning June 18th, the ISC will be solely responsible for adding new
users to the current XMS system.  On July 2nd, new users created in SAP HR
will be  automatically loaded into the new Concur Expense (XMS) system.

Important Date #2 - Wednesday, June 27th
? This marks the deadline for entering new expense reports into the current
XMS system.  All open expense reports in XMS must be submitted and approved
by June 27th.  All users will be locked out of XMS after this date!!

Important Date #3 - Monday, July 2nd
? The new version of Concur Expense (XMS ver. 6.0.2) goes LIVE!!!

For a list of frequently asked questions (FAQ), please click on the following
link:  http://isc.enron.com/site/xmsfaqs.htm

If you have any other questions on any of the above items, please contact the
ISC Call Center at 713-345-4727.


Please make sure that your things are packed and ready to be moved before you leave today.  The move should start first thing tomorrow morning!

Please let me know if you need any help packing and I will be more than happy to help you.

Thank you,

Amanda Rybarski
Gas Fundamentals
Office: (713) 853-4384
Fax: (713) 646-8453
Pager: (877) 482-0772
Cell: (713) 560-0934


Good Morning-

I've had to take defensive driving for a ticket that I got.   I have a court
date scheduled for Friday morning  Sept. 29th at 8:00 am to submitt  the
defensive driving certificate.  I will be arriving late that morning and I
wanted to let you know 1st.


Debra:

I have added the information on Ultra as required on page 1.  Ultra is
satisified with the contract as written and will execute an original when
you have added the information.

Please call if I can help.

Reggie

----------
From:  Debra.Perlingiere@enron.com[SMTP:Debra.Perlingiere@enron.com]
Sent:  Friday, November 03, 2000 4:01 PM
To:  medschul@cvtv.net
Cc:  Charles.H.Otto@enron.com
Subject:  GISB

<<File: Ultra GISB.doc>>

As previously discussed, please see the attached GISB draft for your
review.  Please do not hesitate to contact me with your questions and or
comments.

          (See attached file: Ultra GISB.doc)
Regards,
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


Yes, the following trade was cancelled, Bloomberg failed to send a
cancellation.  Called Bloomberg, spoke to Trish, and she emailed me a
cancelled copy.  Thanks
Stephanie

Melissa Ann Murphy
12/05/2000 08:46 AM
To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject: Re: Missing Trade

---------------------- Forwarded by Melissa Ann Murphy/HOU/ECT on 12/05/2000
07:44 AM ---------------------------
   Kate Symes                12/04/2000 04:57 PM

To: Melissa Ann Murphy/HOU/ECT@ECT
cc:
Subject: Re: Missing Trade

According to all the guys at the Long Term Northwest desk, this trade was
cancelled by Bloomberg. Let me know if Bloomberg still thinks it's good, and
I'll have the traders call over there.

Thanks,
Kate

Melissa Ann Murphy
12/04/2000 02:46 PM
To: Kate Symes/PDX/ECT@ECT
cc: Stephanie Piwetz/HOU/ECT@ECT

Subject: Missing Trade

Hi Kate, I have a broker confirm from Bloomberg for the following deal:

Deal Date:  12/04/2000

Enron buys from Idaho Power

January 2001  $300.00   25 Mws  Mid Columbia

Mike Swerzbin was the trader.

I cannot find this trade in the system.

Let me know,

Thanks,
Melissa
(713) 853-1886


The AAA program was Credit Lyonnais.

	Tanya Rohauer
	06/07/2000 03:47 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Credit Agricole

about half a dozen crude swaps. I'll have to pull the file and get back to
you on the credit worksheet.  I thought i did something on this back when we
did the AAA derivative program (or am i thinking of the wrong customer?)

From: Sara Shackleton on 06/07/2000 12:37 PM
To: Jeff Nogid/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Credit Agricole

Just got off the phone with outside counsel for Credit Agricole.  We're very
close.
Tanya:  Can you tell me what products we trade? Are there many outstanding
transactions?  Also, I'd like to make sure that the "credit worksheet" is
current.  It looks like we're working off of something dated 1/31/96 (Terry
Donovan!!!!!).  This must be wrong.


That was not very nice.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, May 29, 2001 3:23 PM
To:	Huble, Amanda
Subject:	RE:

I FIGURED

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Tuesday, May 29, 2001 2:41 PM
To:	Maggi, Mike
Subject:	RE:

I'll get over it, I'm just being a baby!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, May 29, 2001 2:41 PM
To:	Huble, Amanda
Subject:	RE:

why thats no good

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Tuesday, May 29, 2001 2:22 PM
To:	Maggi, Mike
Subject:	RE:

Yeah, but I am in a depressed mood and I want to go home and sleep.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, May 29, 2001 2:22 PM
To:	Huble, Amanda
Subject:	RE:

are you doing anything

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Tuesday, May 29, 2001 1:57 PM
To:	Maggi, Mike
Subject:

I want to leave so bad!


Dear Participants:
Here are the Directions to the Tamiment:
From New York & Points East: West on I-80 to Delaware Water Gap to bridge crossing into PA. Continue to Exit 52 --- Marshalls Creek, get off the exit and take 209 North to Bushkill. Turn left at the blinker traffic light (onto Bushkill Falls Road) and Tamiment is 4 miles up the hill.
From Philadelphia and Points South: North on the NE Extension (I-476) of the PA Turnpike to Exit 33 (Lehigh Valley). Proceed East on Route 22 to Route 33 North, which then meets I-80 East. Take 80 East to Exit 52. Get off and take 209 North Bushkill .Turn left at the blinker Traffic light and Tamiment is 4 miles up the hill.
From Washington and Baltimore: Take I-83 North to junction of I-81. Proceed North on I-81 to junction of I-78 to Route 33 North. Then Proceed as indicated on directions fron Philadelphia.
From Connecticut and New England: West on I-84 to 209 South. South on 209 to Bushkill. Turn right at blinker traffic light (onto Bushkill Falls Road) and Tamiment is 4 miles up the hill.
If you have any questions or concerns please feel free to contact me.
Sincerely,
Jeremy T. Guenter
Administrative Assistant
*************************************************
Center for Research in Regulated Industries
Rutgers University - Graduate School of Management
180 University Avenue, Room 200P
Newark, NJ 07102-1897
phone: 973-353-5761; fax: 973-353-1348
http://www.rci.rutgers.edu/~crri
crri@andromeda.rutgers.edu
*************************************************
*************************************************
Center for Research in Regulated Industries
Rutgers University - Graduate School of Management
180 University Avenue, Room 200P
Newark, NJ 07102-1897
phone: 973-353-5761; fax: 973-353-1348
http://www.rci.rutgers.edu/~crri
crri@andromeda.rutgers.edu
*************************************************


February 2002		Scheduled

Friday 01
West			 (988)
San Juan	              870
East			 (375)

Saturday 02
West			 (997)
San Juan		  881
East			 (405)

Sunday 03
West			  (995)
San Juan		   884
East			  (374)

Monday 04
West			  (995)
San Juan		   881
East			  (373)


rules of attraction
   less than zero
   glamorama

read in that order.


UC Berkeley Entrepreneurs Forum
Thursday, September 28, 2000
6:30 PM
Haas School of Business
Andersen Auditorium
__________________________________________________________________

Topic:??????????Accelerating Early Stage Start-Ups
Speaker: ???????Randy Haykin, founder & Managing Partner, iMinds Ventures;
Neil Cohen, founder & Chief Marketing Officer, CampSix; and Alan Fisher,
founder & General Partner, Wingspring
Founders of new forms of venture management and capital firms discuss their
new creations and how these differing combinations of previously disparate
elements in new venture creation can speed the time to market for the firms
with which they work.

Registration: There are special rates for faculty and staff. Faculty and
staff are encouraged to pre-register by E-mail.

Note registration procedure for students:
a) in person with cash or check in room F450 or F449, weekdays 9AM to 4PM.
b) with Mc/Visa over the phone, please call (510) 642 4255

The fee for pre- registration is $5. There will be a $10 registration fee at
the door. Note: On-site registration is subject to space available. Pre-
registration for students and staff closes at 4PM on Tuesday, September 26 or
earlier if it is sold out.

Students who have purchased season tickets, either directly from the Lester
Center or through the BA 294 Entrepreneurial Cycle class, do not have to
register again for this event.? Your registration is complete.

Information:
For more information on the series, please visit our Website at
http://www.haas.berkeley.edu/~lester/bef.html
If you wish to read more about this particular event, please go to
http://www.haas.berkeley.edu/~lester/sep00.html


Girl, you better go!

N


dietz's bachelor party was ok.  we did the same thing that we did at val's.  i am not going to the tenn game.  i might go to the florida game.

 -----Original Message-----
From: 	"BEN BOUDREAUX" <bboudrea@midsouth.rr.com>@ENRON [mailto:IMCEANOTES-+22BEN+20BOUDREAUX+22+20+3Cbboudrea+40midsouth+2Err+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, September 28, 2001 10:33 AM
To:	Lenhart, Matthew
Subject:	Re:

what's up?  no i have to work, besides knoxville is 6 hours from here.  i
wanted to go to the auburn game, but all that shit happened.  how was
dietz's bachelor party?  are you going to the TN game?

ben

----- Original Message -----
From: <Matthew.Lenhart@enron.com>
To: <bboudrea@midsouth.rr.com>
Sent: Friday, September 28, 2001 10:58 AM
Subject: RE:

> boudreaux-  what's up?  are you going to the tenn game?
>
>     -----Original Message-----
>    From:   "BEN BOUDREAUX" <bboudrea@midsouth.rr.com>@ENRON
>
[mailto:IMCEANOTES-+22BEN+20BOUDREAUX+22+20+3Cbboudrea+40midsouth+2Err+2Ecom
+3E+40ENRON@ENRON.com]
>
>
>    Sent:   Tuesday, August 28, 2001 9:34 AM
>    To:     Lenhart, Matthew
>    Subject:
>
>
>    hey. give me a call tonight at 901-528-0914. it is  tuesday the 28th
>
>
>
> **********************************************************************
> 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.
> **********************************************************************
>


Thanks for the explanation, Diana!

Kate


Dave Steiner informed me we got the servers back so there should be no issues tonight.

ryan


Gary, Peter,

This is a copy of my London presentation. I expect to
make some minor changes to this presentation for March 13.

Vince

Vince Kaminski

"Jackson, Gary L." <gljackson2@tva.gov> on 02/27/2000 03:07:13 PM
To: Vince J Kaminski/HOU/ECT@ECT, "'Peter Tufano'" <ptufano@hbs.edu>
cc: "DeMars, Suzanne" <sdemars@tva.gov>
Subject: RE: March Real Options Conference

 <<REAL OPTIONS VALUATION IN THE NEW ECONOMY>>

This is a draft of what I was thinking of presenting.  I was not planning to
go over any specific options or OPAs (these are covered by confidentiality
clauses and I have to be careful from a competitive standpoint) but to give
the audience a few of the "real world" applications and challenges.  I
welcome any thoughts or comments.

Gary

> ----------
> From:  Peter Tufano[SMTP:ptufano@hbs.edu]
> Sent:  Friday, February 18, 2000 4:56 PM
> To:  vkamins@ect.enron.com; gljackson2@tva.gov
> Subject:  RE: March Real Options Conference
>
> Dear Vince and Gary,
>
> We are all speaking at the March Real Options Session in NY.   My work in
> real options in the energy field has come, to a large part, from my
> casewriting in your two organizations, so I feel that we should probably
> allocate more time toward your presentations and less to mine.   While we
> have a two hour block among the three of us, I think we can freely
> re-arrange things to produce the best result.  Would you two like to
> schedule a brief conference call to coordinate our talks?    I am free
> virtually all of next Wednesday 2/23, perhaps we could talk at 10 am (EST)
> or 2 pm (EST)?   I am happy to arrange the call, if you send me your phone
> numbers.  Thanks.
>
> Peter Tufano
>
>
> ---------------------------
> Prof. Peter Tufano
> Harvard Business School
> Morgan Hall 377
> Soldiers Field
> Boston, Massachusetts 02163
> phone: (617) 495-6855
> fax:   (617) 496-6592
> email: ptufano@hbs.edu
> http://www.people.hbs.edu/ptufano
>

 - REAL OPTIONS VALUATION IN THE NEW ECONOMY.ppt


(For e-mailing list removal information see bottom of e-mail.)
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Continental Beaver process plant has come back on line processing  gas . This gas has been rerouted to go to Beaver suction and back up the bypass stream.

Gary


----- Original Message -----
From: Stephen  Bilby
To: Alfred E Newman (E-mail)  ; Army (E-mail)  ; Armando Martinez (E-mail)  ;  Bryan Lilley  (E-mail)  ; Craig Carter (E-mail)  ; E. T. (E-mail)   ; HNSGLASGOW  (E-mail)  ; JD Tamez (E-mail)  ; JIM THIERHEIMER  (E-mail)  ; Mark Ritter (E-mail)  ; Mike  Freeman (E-mail)  ; Russellprevost (E-mail)  ; Sean Wolfe  (E-mail)  ; Steve Levine (E-mail)  ; Ron  Underwood
Sent: Monday, October 29, 2001 9:03 AM
Subject: Golfin' and Wedding!!!
Hello  All,
I want to see who  will be able to golf on Friday and Saturday.
Friday we will golf  here in San Antonio and everything is taken care of already.  It will be at  the Quarry and I think the times are between 8 adn 8:30 am.
Saturday we will  golf at the Shreiner Public Golf Course and we have a tee time at 8am and  8:07am.  Fee for this this one I believe is  $33.00/person.

So far this is who I  have for golf on Friday:
1. Me(of  course)
2. JD  Tamez
3. Henry  Glasgow
4. Colin  Murphy
5.  .....

For Saturday, we  have the following so far:
1.  Me(hopefully)
2. Jim  Thierheimer
3. Tom  Thierheimer
4. Steve  Levine
5. Sean  Wolfe
6. Armando  Martinez
7. Vince  Martinez
8........

E-mail me back if  you are going to be able and we'll get you on for sure.  I am sure looking  forward to  seeing everyone for Teri and mine's big day.  It will  be even more beautiful with all of your there.

Talk to you  soon!!
Stephen A. Bilby
Director of Sales
The RK Group
(210)225-4535 sbilby@therkgroup.com


Please see below info for a master with this company.  Please send a credit
sheet if ok.  Also,  I need a credit sheet for Superior Water,Light, and
Power.

Thanks!

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

----- Forwarded by Debra Perlingiere/HOU/ECT on 12/07/2000 10:12 AM -----

	"Horth, Daniela" <DanielaHorth@aec.ca>
	11/16/2000 02:53 PM

		 To: "'DPerlin@enron.com'" <DPerlin@enron.com>
		 cc:
		 Subject: Corporate Information

Hello Debra, as per our conversation, please find attached the corporate
info on both of the entities for which we will want to put a contract in
place.   The ultimate parent of each is Alberta Energy Company Ltd.

  <<info-sheet.ASHSI.doc>>  <<info-sheet.WGSI.doc>>
If you require anything further please do not hesitate to contact me.  I
will await receipt of your draft contracts.

Regards,

Daniela Horth
Contract Administrator
Storage and Hub Services
Phone (403) 691-5914
Fax: (403) 290-8584
e-mail:  DanielaHorth@aec.ca

 - info-sheet.ASHSI.doc
 - info-sheet.WGSI.doc


Hey Cliff,

Which Rogue Spear do you have?

D


www.cnn.com georgie looks a little  constipated.


Not at all!  Fawcett's the antsy one; he is anxious to use his new honorary
law degree (ahem!).
I agree it would be risky to indicate our wholehearted support of a
settlement when the agreement has yet to be written.  It would be like giving
SoCal a signed blank check (that's carte blancheto us lawyers), and we don't
trust them that much.
Once we've signed a real agreement, I do want to file something in support.
I'm just trying to plan ahead, is all.

Jeff Dasovich @ EES on 04/04/2000 04:32:07 PM
To: Susan Scott/ET&S/Enron@ENRON
cc: Jeffery Fawcett/ET&S/Enron@ENRON

Subject: Re: I.99-07-003: Post-Interim Settlement Agreement

OK, you folks are getting antsy out there.  I haven't yet begun to think
about a declaration.  And don't plan on thinking about one until 1) the
Commission has approved the motion, and 2) Socalgas shows during the first
week or so that it intends to faithfully put into details what it has agreed
to in principal.  Also, if the motion is approved, the hearing likely won't
happen on the 11th (one would hope).

Am I missing something?  Are you folks concerned about something that I'm
missing?


Due to the current state of affairs we are canceling all of the Associate / Analyst recruiting.

Thank you for being such great team players!  We really appreciate your effort.  Please let me know if you have any questions.  Thank you!

Julie Kearney