---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/28/2000
02:37 PM ---------------------------

"Julie Haviland" <julie.haviland@PaineWebber.COM> on 04/28/2000 12:57:40 PM
To: "'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject: Some municipal bonds for you to look at.....

I called out muni desk to have them take a look at the current munis avaiable
that looked best at this time to invest $50,000 going out to 30 years for
you.  The following is what they came up with....

Pecos Co TX Cert of Obl w/a Coupon 5.5% Matures in 02/01/11 callable at par
on 02/01/07 offered at $101.964 - AAA rated

Brownsville Util Rev w/a coupon of 5.25% maturing in 09/01/15 callable at par
on 09/01/05 offered at $97.425 - AAA rated

Alvin TX ISD PSF w/a coupon of 5.75% maturing in 08/15/22 callable at par on
08/15/10 offered at par - AAA rated

Houston TX Air Revs w/a coupon of 5.00% maturing in 07/01/28 callable at par
on 07/01/08 offered at 86.479 - AAA rated

Remember, these are subject to change, but if these interest you and they are
not still available, I will see if there is something comparable.

Talk to you soon.  Please call me with any questions.  Thanks, Julie


Start Date: 4/20/01; HourAhead hour: 2;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042002.txt


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/27/2000
04:00 PM ---------------------------

Tanya Tamarchenko
10/26/2000 06:02 PM
To: Naveen Andrews/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: trying to find fat tails

Naveen,
I was trying to find "fat tails". I looked at NG prompt month prices'
log-returns for 5 years  9 months.
On the figure below you can see the comparison of empirical cumulative
probability function with normal
cumulative for this time series (standardized: mean subtracted, divided by
stdev). The effect of fat tails
is not pronounced so much. The "fat tails" effect was much more visible on
your plot when you looked at the
oct-00 prices log-returns versus my time series of prompt month's prices.
The shape of the distribution is different from normal, though, and fits well
with the volatility switching model.

Tanya.


Vince:   Jaesoo Lew has just returned my phone call.   He is interested in
meeting with you and your group, and would like to do so on Wednesday,
10/25/2000.   He had already made travel arrangements to fly to a conference
in Seattle on 10/25, but is willing to come here for the interviews first and
then travel from Houston to Seattle for the seminar.   He did ask if we would
be willing to reimburse him for the additional cost of the ticket, and I told
him I was sure that you would consider it.
Dr. Lew asked that we schedule his flight into Houston for some time after
6:00 pm on Tuesday, 10/24/2000.   I will work on the travel arrangements
tomorrow morning, and keep you advised.

Please call me with any questions,
Molly
x34804


Attached is a power point presentation that the ag group prepared for our
meeting with Sidley & Austin in Chicago yesterday.  FYI, I think the meeting
went well -- S&A had some helpful comments about some of the prototypes we
are considering and I think our commercial people value their ag knowledge.

Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com
----- Forwarded by Robert Bruce/NA/Enron on 12/06/2000 11:26 AM -----

	Ted Noble@ECT
	12/04/2000 07:33 PM

		 To: Billy Lemmons/Corp/Enron@ENRON, Robert Bruce/NA/Enron@Enron,
lhunt@sidley.com
		 cc:
		 Subject: Enron Agenda Presentation (2) Disregard Earlier Email

Attached is a powerpoint presentation that outlines an agenda and discussion
points for tomorrow's meeting in Chicago.  I look forward to seeing you then.


Another victory at FERC!

Although Enron did not file a protest in this docket, nor was a signatory to
the joint Coral/Dynegy protest, I worked with Dynegy on forming the arguments
against the proposed change to OASIS (first to confirm after scheduling
deadline) at NERC.   Dynegy and Enron and a few others voted against the NERC
request but lost the vote thus leading to the NERC filing.  In my opinion,
such a practice would advantage incumbent utilities and their affiliate
marketers who tend to buy pre-confirmed Firm service.

One of the main arguments I made at NERC and a chief reason why FERC denied
the request is cited in the order:

"Dynegy/Coral argues that the proposed standard addresses the problem of
unused transmission capacity caused by some customers not confirming accepted
transmission requests, but does not address the underlying problem caused by
the practice of some transmission providers of delaying their acceptance of
requests for daily, firm transmission service, even when customers submit
their requests early. "

FERC further acknowleded:
"If transmission providers would all respond to requests for daily,firm
transmission service on a timely basis, then customers would have adequate
time to confirm before reservations are scheduled, and the MIC's proposed
business practice might not be needed."

This is the correct message for FERC to send back to NERC - to put the burden
on the transmission providers to expedite requests - not penalize the
customers for getting OASIS requests in early.

---------------------- Forwarded by Charles Yeung/HOU/ECT on 07/02/2001 02:59
PM ---------------------------

"Grabiak, Terri J." <TGrabia@alleghenypower.com>@nerc.com on 07/02/2001
01:39:42 PM
Sent by: owner-mips@nerc.com
To: "'mips@nerc.com'" <mips@nerc.com>
cc:

Subject: Business Practice Ruling

For those of you that haven't seen this.  FERC denied our request.

T

 95 FERC 4  61,492
                          UNITED STATES OF AMERICA
                    FEDERAL ENERGY REGULATORY COMMISSION

     Before Commissioners: Curt H'bert, Jr., Chairman;
                          William L. Massey, Linda Breathitt,
                          Pat Wood, III and Nora Mead Brownell.

     Open Access Same-time Information
       System (OASIS) and Standards of           Docket No. RM95-9-013
       Conduct

     ORDER DENYING REQUEST FOR EXPERIMENTAL BUSINESS PRACTICE STANDARD

                           (Issued June 29, 2001)

          We will deny the request from the Market Interface Committee

     of the North American Electric Reliability Council (MIC) for

     expedited approval of its proposed experiment on the treatment of

     unconfirmed requests for daily, firm transmission service, for

     the reasons stated below.

     BACKGROUND

          On May 29, 2001, the MIC filed a request to modify the

     Commission's OASIS Business Practice Standards adopted in Order
             1
     No. 638,  to add a new business practice standard dealing with

     accepted daily, firm point-to-point transmission service that has

     not been confirmed and to modify a related footnote to Table 4-2

     on Reservation Timing Limits.  The MIC requests that the

     Commission implement this proposal on a mandatory, experimental

     basis for six months beginning no later than June 30, 2001.  The

     MIC further states that, within four months of the effective

     date, it will provide the Commission with an assessment of the

               1
                Open Access Same-Time Information System and Standards of
          Conduct, Order No. 638, FERC Stats. & Regs., Regulations
          Preambles 1996-2000 4 31,092 (2000).

          Docket No. RM95-9-013     -2-

     experiment and whether it should be revised, discontinued, or

     made permanent.

          On June 5, 2001, the Commission issued a notice of filing

     and request for comments regarding the MIC filing.  The notice

     gave a brief description of the MIC proposal and invited comments
                                2
     on or before June 11, 2001.   Comments were invited on the MIC

     proposal generally and specifically on whether Commission action

     is needed by June 30, 2001, as requested by the MIC.

          On June 11, 2001, Dynegy Power Marketing, Inc. and Coral

     Power, LLC (collectively "Dynegy/Coral") jointly filed a protest

     opposing the MIC request.

     Dynegy/Coral argue that the MIC proposal should not be granted on

     an expedited basis and that it should be rejected outright.

     Dynegy/Coral's protest was the sole comment filed in response to

     the June 5, 2001 notice and request for comments.

     DISCUSSION

          We will deny the MIC s request for expedited approval of its

     proposed experiment on the treatment of unconfirmed requests for

     daily, firm transmission service for three reasons.  First,

     although the MIC requests expedited approval of its proposed

     experiment, the MIC s proposal presents no reason why expedited

     treatment is needed.  Moreover, although our June 5, 2001 notice

     specifically invited comment on this issue, no comments were

     filed in support of expedited treatment or giving reasons why

               2
                This shortened comment period was used to accommodate the
          MIC's request for action on or before June 30, 2001.

          Docket No. RM95-9-013     -3-

     prompt action is needed.  In fact, Dynegy/Coral s protest, the

     sole comment filed, argued against expedited approval of the

     proposed experiment both because it opposed approval of the

     experiment outright, and because Dynegy/Coral argues that

     implementation during the summer peak period would cause problems

     for customers denied service under the MIC s proposal.  Given the

     absence of a showing of need for expedited treatment, we will

     reject MIC s request for expedited approval of its proposed

     experiment.

          The MIC proposal would allow transmission providers, at

     reservation request deadlines, to retract their prior acceptance

     of unconfirmed customer requests for daily, firm transmission

     service and substitute pending pre-confirmed requests for such

     service, in order of queue time, up to the amount of daily, firm

     available transmission capability remaining.  The proposal

     includes phrases such as, "the transmission provider has the

     right to move to a retracted status" and "after which time that

     request may be retracted."  These phrases do not provide a

     standard for the transmission provider to use in deciding whether

     to retract customers' unconfirmed accepted requests for daily,

     firm point-to-point transmission service.  Careful monitoring

     would be necessary to insure that the proposal is not implemented

     in a discriminatory manner.  A customer whose request for

     transmission service had been accepted would have no way to

     predict whether a transmission provider might choose to retract

          Docket No. RM95-9-013     -4-

     its acceptance, which would make it difficult for the customer to

     make alternative arrangements.

          Dynegy/Coral argues that the proposed standard addresses the

     problem of unused transmission capacity caused by some customers

     not confirming accepted transmission requests, but does not

     address the underlying problem caused by the practice of some

     transmission providers of delaying their acceptance of requests

     for daily, firm transmission service, even when customers submit

     their requests early.  Dynegy/Coral contends this practice puts

     customers in a bind that forces them to make alternative

     arrangements as a protective mechanism.  Dynegy/Coral argues that

     customers should not be punished for taking such precautions,

     even if they result in some unused transmission capacity.

     Dynegy/Coral argues that a better solution to avoid unused

     capacity would be for transmission providers to more uniformly

     respond to requests for daily, firm transmission service on a

     timely basis, rather than by taking the unwarranted step of

     giving greater priority to pre-confirmed service requests.

     Further, Dynegy/Coral argues that the MIC proposal would force

     customers to purchase transmission services they will be unable

     to use.

          We agree with Dynegy/Coral that the MIC proposal does not

     address whether the time period for transmission providers to

     evaluate requests for daily, firm transmission service needs to

     be clarified or shortened and that this is a relevant issue.  If

     transmission providers would all respond to requests for daily,

          Docket No. RM95-9-013     -5-

     firm transmission service on a timely basis, then customers would

     have adequate time to confirm before reservations are scheduled,

     and the MIC's proposed business practice might not be needed.  We

     request that the MIC reconsider its motion in light of the

     concerns raised by Dynegy/Coral.  After considering these issues,

     the MIC may, at its option, make a revised request for an

     experimental business practice standard.

     The Commission orders:

          The request by MIC for expedited approval of a proposed
     experiment on the

     treatment of unconfirmed requests for daily, firm transmission
     service is hereby denied

     without prejudice, as discussed in the body of this order.

     By the Commission.

     ( S E A L )

                                        David P. Boergers,
                                              Secretary.

Terri J. Grabiak
General Manager, Transmission Marketing

Allegheny Power
800 Cabin Hill Drive, Room B101
Greensburg, PA  15601

(724) 838-6748
(724) 838-6156 - fax

mailto:tgrabia@alleghenypower.com <mailto:tgrabia@alleghenypower.com>


Previous Nomination had Dec. 15, 2000, in the Subject line, but the attached
file had the correct effective dates.

(See attached file: HPLN1216.xls)

 - HPLN1216.xls


Jeff,

I did not see an email from John Anderson on Jim's email list.  Let me know
if I can help in any other way.

Thanks
Marcia


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FRIDAY, FEBRUARY 15, 2002

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Swap proposed to halt new Calif. offshore drilling

By Andrew Quinn, SAN FRANCISCO, Feb 14 (Reuters)

New oil and natural gas drilling off California's famous coastline would be permanently halted under a deal to swap undeveloped California tracts for similar blocks in the Gulf of Mexico, Sen. Barbara Boxer said on Thursday.

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Baker Hughes sees weak first half of 2002

HOUSTON, Feb 14 (Reuters) -

Baker Hughes Inc., the world's third-biggest oilfield services company, on Thursday said warmer-than-normal winter weather, conservation and an ailing economy will keep North American energy demand low and impact drilling results there in the first half of 2002.

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Philadelphia Gas Works to Seek Rate Increase

By Benjamin Y. Lowe, The Philadelphia Inquirer, Feb. 14

Philadelphia Gas Works will ask for a rate increase of up to $50 million because of lower gas sales caused by warm winter weather.

Enron Debacle

<input type="checkbox" name="id" value="2727757">

Sale of Two Enron Units Is Near; Deals May Bring $3.4 Billion

By Eric Berger, Houston Chronicle, Feb. 14

Two Enron Corp. units that could bring in almost $3.4 billion moved closer to sale in bankruptcy court here Wednesday, as more details emerged of the company's recent financial operations.

<input type="checkbox" name="id" value="2728232">

Enron fires top accounting officers Causey and Buy

HOUSTON, Feb 14 (Reuters)

Shattered energy company Enron Corp. on Thursday fired its top accounting officers, Chief Accounting Officer Richard Causey and Chief Risk Officer Richard Buy, in a disciplinary action.

<input type="checkbox" name="id" value="2729748">

Enron whistleblower testifies to Congress

By MARC HEBERT, WASHINGTON, Feb 14, 2002 (United Press International via COMTEX) --

An executive at bankrupt Enron Corp. made clear Thursday that she had alerted the company's chief executive officer about the firm's questionable accounting practices as early as last August.

<input type="checkbox" name="id" value="2727753">

Enron Documents Map Details of Creative Accounting; Executive's Stake Shielded

By Tom Fowler, Houston Chronicle, Feb. 14

Internal Enron documents released Wednesday shine more light on the elaborate accounting maneuvers it employed to avoid reporting details of its off-the-books partnerships.

<input type="checkbox" name="id" value="2730080">

Enron Prompts Federal Investigation

Feb 14 - Associated Press

Federal regulators are investigating wholesale power and natural gas markets, with a focus on whether manipulation by Enron Corp. or other energy traders caused big price increases in the West a year ago.

<input type="checkbox" name="id" value="2727751">

Head of Federal Energy Regulatory Commission Ordered to Reveal Enron Contacts

By Julie Mason, Houston Chronicle, Feb. 14

As the Federal Energy Regulatory Commission opened an investigation of Enron Corp., House lawmakers Wednesday ordered commission Chairman Pat Wood III to disclose his past contacts with company executives.

<input type="checkbox" name="id" value="2727754">

Meeting Minutes Contradict Enron Directors' Testimony of Being Kept in Dark

By David Ivanovich, Houston Chronicle, Feb. 14

Minutes of Enron Corp.'s board meetings released Wednesday indicate directors were briefed repeatedly about the company's deals with its off-the-books partnerships.

<input type="checkbox" name="id" value="2727959">

Records Show Whistleblower Told Enron's Lawyers Andersen Knew about Deals

By Chris Mondics, The Philadelphia Inquirer, Feb. 14

Whistleblower Sherron Watkins told Enron Corp. lawyers last September that the company's outside auditor knew many of the details of suspect transactions and "is as guilty as Enron," according to internal documents obtained Wednesday by Knight Ridder.

<input type="checkbox" name="id" value="2728058">

Chief Financial Officers in Spotlight Since Enron Scandal

By Eric Torbenson, Saint Paul Pioneer Press, Minn., Feb. 14

Now in the white-hot investor spotlight, sitting rather uncomfortably, are chief financial officers.

<input type="checkbox" name="id" value="2728209">

Enron-style schemes marketed to other firms-NYT

NEW YORK, Feb 14 (Reuters)

After helping to hatch an idea that allowed Enron Corp. to mask its true financial condition, investment bankers at Wall Street firms marketed the scheme to other companies, the New York Times said in a report on Thursday.

<input type="checkbox" name="id" value="2728254">

Looking for love after Enron at power luncheon

NEW YORK, Feb 14 (Reuters)

They showed up at a packed hotel ballroom in midtown Manhattan on Thursday looking for love.

<input type="checkbox" name="id" value="2728258">

Ex-Enron workers seek $100 mln from bankrupt trader

NEW YORK, Feb 14 (Reuters)

A group of former Enron Corp. employees, backed by the AFL-CIO labor union and activist Rev. Jesse Jackson, appealed on Thursday to a U.S. bankruptcy court to approve payments of $100 million to severed workers.

<input type="checkbox" name="id" value="2728262">

Accounting chief seeks rules for Enron-type deals

By Deepa Babington, WASHINGTON, Feb 14 (Reuters)

The head of a global accounting standards body on Thursday outlined to Congress a tougher approach on accounting for Enron-type deals but said U.S. support was needed to build global accounting rules.

<input type="checkbox" name="id" value="2728755">

Enron's failure exposes cracks in foundation of America's new economy

By Gregg Fields Knight Ridder Newspapers, HOUSTON, Feb 14, 2002 (Knight Ridder Newspapers - Knight Ridder/Tribune News Service via COMTEX) --

The images are etched on the American consciousness: destitute retirees, hard-charging lawyers, the off-kilter E in front of Enron's now-ghostly Houston headquarters.

<input type="checkbox" name="id" value="2730034">

Enron Way Mimicked; Analysts Worried Firms Have Learned Wrong Lessons

Feb 14 - Denver Rocky Mountain News

What has Wall Street worried these days is whether companies have learned lessons from Enron - the wrong lessons, taught long ago when the Houston energy trader was on top of the world.

<input type="checkbox" name="id" value="2730082">

State largely unscathed by Enron mess; Good timing, luck prevent any significant losses

Feb 14 - The Charleston Gazette

As one of the nation's major energy producers, it was inevitable that West Virginia and its coal, oil and natural gas businesses would become involved with Enron, the failed energy trading conglomerate.

<input type="checkbox" name="id" value="2730120">

Anger as Enron UK directors share pounds 6m bonanza

Feb 13 - Independent - London

ENRON'S UK arm was caught up in a fresh furore yesterday after it emerged that 15 senior employees at the company's energy trading arm shared in a pounds 6m bonanza for helping with the sale of the business to Centrica.

<input type="checkbox" name="id" value="2728091">

Regulators, Lawmakers Crack Down on Financial Reporting in Enron Aftermath

Chicago Tribune, Feb. 14

As investors continue to fret over the quality of financial reports provided by the nation's publicly traded companies, regulators and lawmakers moved Wednesday to close accounting loopholes and push for more rigorous corporate reporting requirements in the aftermath of the Enron Corp. bankruptcy.

<input type="checkbox" name="id" value="2728195">

Enron's Lay sells Aspen cottage for $10 million

ASPEN, Colo., Feb. 13, (Reuters)

Embattled former Enron Corp chairman Kenneth Lay, who lost a fortune with the collapse of the energy giant, has sold his "cozy country cottage" in this ski resort for $10 million -- more than five times what he paid for it.

<input type="checkbox" name="id" value="2728266">

Index fund pioneer Bogle urges vigilance post-Enron

NEW YORK, Feb 14 (Reuters)

Abuses that led to the downfall of energy giant Enron Corp. are widespread and must be addressed through pressure from mutual funds and other big institutional investors that own just over half of all of the stock in the United States, John Bogle, founder and former chief executive of The Vanguard Group, said on Thursday.

<input type="checkbox" name="id" value="2730031">

Enron Fall Hits Home For Pipeline Workers

Feb 14 - Palm Beach Post

DuWayne Aulgur has to fight his despair when he talks about it.

<input type="checkbox" name="id" value="2729087">

Enron scandal gives a boost to TV's business journalists

By Glenn Garvin Knight Ridder Newspapers, Feb 14, 2002 (Knight Ridder Newspapers - Knight Ridder/Tribune News Service via COMTEX) --

The collapse of the energy-trading giant Enron may have ruined millions of stockholders, employees and creditors, but it was a piece of good luck for at least one group: television business journalists.

National Energy Policy

<input type="checkbox" name="id" value="2730084">

Senate Panel OK's Energy Incentives

Feb 13 - Associated Press

Legislation providing more than $14 billion in tax incentives for energy conservation and production was approved Wednesday by a Senate committee, which added new breaks for energy-efficient household renovations and home appliances.

ADVERTISEMENT

Online marketplaces are driving an ongoing restructuring of Europe's

energy industry, by making energy trading simpler and cheaper. A new

report from Datamonitor, Online Energy Trading in Europe, explores

the growing volume of trading operations in a liberalized market.

http://www.energycentral.com/links/show_mi.cfm?id=100584

Mergers, Acquisitions & Divestitures

<input type="checkbox" name="id" value="2729303">

Petrobras close to completing CEG purchases

Brazil, Feb 14, 2002 (BNamericas.com via COMTEX) --

Brazil's federal energy company Petrobras is close to completing the purchase of stakes in Rio de Janeiro state natural gas distributors CEG and CEG-Rio from bankrupt US energy company Enron, according to Gazeta Mercantil.

<input type="checkbox" name="id" value="2728251">

Nexen CEO plots growth without mergers

By Jeffrey Jones, CALGARY, Alberta, Feb 14 (Reuters)

Nexen Inc., Canada's No. 5 oil explorer and producer, has the prospects and financial clout to get bigger without jumping into the kind of huge merger planned by its top rivals, Alberta Energy and PanCanadian, Nexen's chief executive said on Thursday.

<input type="checkbox" name="id" value="2728402">

RWE accepts strict conditions for purchase of Transgas

Feb 13, 2002, (Financial Times Deutschland /FT Information via COMTEX) --

RWE AG, the German energy group, won the bidding at the end of last year for the acquisition of a 96.99 per cent stake in Transgas, the Czech gas importer, not only by making the highest bid, but also by agreeing to a series of special conditions, which were rejected by rivals.

Legislation/Regulation

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Interior Department to Resume Oil/Gas Royalty Payments to American Indians

By Bill McAllister, The Denver Post, Feb. 13

On the eve of Interior Secretary Gale Norton's testimony at her contempt trial, her department disclosed Tuesday that it is ready to resume making oil and gas payments to American Indians whose lands the government leases.

Gas Pricing/Hubs

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Canadian natgas prices pressured by balmy weather

CALGARY, Alberta, Feb 14 (Reuters)

Spot natural gas prices slipped across Canada on Thursday, with warm weather in Alberta and weaker U.S. physicals and futures applying downward pressure, industry sources said.

<input type="checkbox" name="id" value="2728256">

NYMEX Hub gas ends lower on technicals, weather

NEW YORK, Feb 14 (Reuters)

NYMEX Hub gas ended lower Thursday in moderate trade, pressured by some technical selling after yesterday's reversal and milder weather forecasts for later this week that weakened the cash, industry sources said.

Futures

<input type="checkbox" name="id" value="2730158">

March Gas Futures Slides on Weak Technicals, Fundamentals

Feb. 14 (Btu's Daily Gas Wire)

With the weight of Wednesday's late sell off hanging heavily on the market, March natural gas futures settled down 5.9 cents at $2.186 after late selling dropped prices as much as 6.5 cents to a $2.18 daily low.

Special Offer from this Publisher!

<input type="checkbox" name="id" value="2728362">

Natural gas ends lower in late plunge

February 14, 2002 (TradeSignals via COMTEX) --

Natural gas futures posted a spectacular 16 cents reversal into the close of Wednesday's session to end the day in negative territory.

Pipelines

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BP shelves plans for 20 bln usd Alaska pipeline project

NEW YORK, Feb 14, 2002 (AFX-UK via COMTEX) --

BP PLC said it will not proceed with a proposed 20 bln usd Alaska pipeline that would bring gas to the North American market because it is not viable at a time of depressed gas prices and without government assistance, the Financial Times reported in its online edition, citing BP chief executive Sir John Browne.

<input type="checkbox" name="id" value="2730169">

Pipeline Safety Official: 'Judge Us by What We Do'

Feb 14, 2002 - Cox News Service

The Bush administration official responsible for federal pipeline safety enforcement acknowledged Wednesday that her agency's record is "not good" but told members of Congress she is committed to a more aggressive approach in the future.

General

<input type="checkbox" name="id" value="2727929">

Dallas-Based Atmos Energy Promises Better Service with New Initiative

By Steve Vied, Messenger-Inquirer, Owensboro, Ky., Feb. 14

Dallas-based Atmos Energy will soon have 1.7 million customers in 12 states.

Trading/Marketing

<input type="checkbox" name="id" value="2728242">

US lawmakers seek to regulate Enron-like energy trades

WASHINGTON, Feb 14 (Reuters)

Legislation was introduced in the U.S. Senate on Thursday to regulate energy contracts in the over-the-counter market like those used by bankrupt Enron Corp. and are accused of causing skyrocketing electricity and natural gas prices last year.

<input type="checkbox" name="id" value="2727633">

Secrecy in Energy-Trading Market Questioned in Congressional Hearing

By Jim Landers, The Dallas Morning News, Feb. 14

Wholesale power and natural gas marketers were criticized before Congress on Wednesday for secret trading that leaves consumers and producers open to price manipulation.

<input type="checkbox" name="id" value="2728244">

FEATURE-U.S. energy trade grows more cautious post-Enron

By Spencer Swartz, SAN FRANCISCO, Feb 14 (Reuters)

The collapse of energy giant Enron Corp. has triggered a tough new conservatism among wholesale energy traders, who are grilling everyone they do business with about their credit.

People

<input type="checkbox" name="id" value="2728073">

Questar CEO Stepping Down after Transforming Utah Energy Provider

By Steven Oberbeck, The Salt Lake Tribune, Feb. 12

Don Cash supervised the growth of Questar Corp. from a small Utah-based utility known as Mountain Fuel Supply Co. into a regional oil and natural gas powerhouse.

Fuel

<input type="checkbox" name="id" value="2728452">

City Council asks plant on U. Minnesota campus to use natural gas

By Shira Kantor, MINNEAPOLIS, Feb 13, 2002 (Minnesota Daily, U-WIRE via COMTEX) --

Answering the pleas of several area pollution-control groups, City Council members took steps Tuesday to make sure Minneapolis residents can breathe a little easier.

Financial

<input type="checkbox" name="id" value="2727905">

Stock Price Drops at Omaha, Neb.-Based Pipeline Firm Northern Border Partners

By Steve Jordon, Omaha World-Herald, Neb., Feb. 13

Omaha-based Northern Border Partners' stock price has dropped 11 percent since Friday after the company changed auditing firms and a financial rating agency said it may lower Northern's debt rating.

<input type="checkbox" name="id" value="2728223">

Williams to cut $50 million in annual expenses

NEW YORK, Feb 14 (Reuters)

Williams Companies on Thursday said it would cut about $50 million of costs annually as the energy trader and pipeline operator overhauls its balance sheet amid fears it may have to assume $2.2 billion in debt from former subsidiary Williams Communications Group.

<input type="checkbox" name="id" value="2730073">

Warm weather won't frost, or cost, gas companies

Feb 13 - Daily Herald - Chicago

Companies that sell natural gas plan their operations for "normal weather."

Financial - Results

<input type="checkbox" name="id" value="2728069">

Salt Lake City Energy Firm Questar Notes Net Income of $158.2 Million for 2001

By Steven Oberbeck, The Salt Lake Tribune, Feb. 14

Two years ago Questar Corp. was worried that tough Utah regulators and low oil and gas prices would stifle its future financial performance.

International

<input type="checkbox" name="id" value="2728111">

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Bangkok Post, Thailand, Feb. 14

PTT Plc says it will set up three more natural gas affiliates to manage an investment programme worth 98.8 billion baht planned up to 2010.

<input type="checkbox" name="id" value="2729641">

Q&A: GasAtacama CEO Rudolf Araneda

Argentina, Feb 14, 2002 (BNamericas.com via COMTEX) --

Argentina's new 20% tax on hydrocarbon exports may affect Chilean gas distributors, who depend on their trans-Andean neighbor for 80% of their natural gas.

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Gas deal could be Russia's "magic wand" in Central Asia: analysts

Feb 14, 2002 - Agence France-Presse

Russia sees a "gas alliance" with former Soviet republics in Central Asia as a "magic wand" that could help to combat the creeping US presence in the region as a result of the Afghan war, according to analysts.

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Contact Wants Gas Regulation

Feb 14, 2002 - The Dominion

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We regret to announce that Rick Bergsieker has decided to leave Enron to pursue other interests.  Rick has led our commercial activities in the Middle East for the past several years.  Rick is a highly respected individual within the company as well as within the energy sector, and we will miss his contributions.

With Rick's departure, we are realigning the Global LNG group into the following four separate functional areas: Americas Origination, European and Pacific Origination, New Asset Implementation and Trading and Logistics.  These functional areas will report to Eric Gonzales who will be assuming lead responsibility for the Global LNG business unit.

Within the Americas Origination effort, Doug Arnell will take the group leadership for activities within the Atlantic Basin.  The priorities for Doug's group include the continued development of the Bahamas Terminal and the implementation of the Elba terminal agreement.  The current teams focused on the VLNG project and North American West Coast project are also part of the Americas effort and will continue reporting directly to Eric.

Clay Harris will expand his role to lead the European and Pacific Origination function from the London office.  Reporting to Clay will be the existing Pacific Origination team as well as the members of the London based LNG team.

The New Asset Implementation group will be led by Greg Curran.  Greg's group will be focusing on the successful implementation of construction and initial operations of our LNG assets under development.

The Trading and Logistics groups will continue reporting to Jonathan Whitehead.

Please join us in wishing Rick well for the future, and congratulating Eric, Doug, Clay, and Greg on their new and expanded roles.

Mike McConnell & Jeff Shankman


---------------------- Forwarded by Kay Mann/Corp/Enron on 01/18/2001 07:38
AM ---------------------------

"Paradee, Lari" <Lparade@INTERGEN.com> on 01/17/2001 08:58:01 PM
To: "'CCampbell@KSLAW.com'" <CCampbell@KSLAW.com>, "'kay.mann@enron.com'"
<kay.mann@enron.com>
cc: "Pedigo, Doug" <DPedigo@INTERGEN.com>, "Jones, John"
<JJones@INTERGEN.com>

Subject: Escrow instruction letters

Carolyn/Kay -
I apologize for the latest of getting these documents to you, but I was
unaware of the timeline until just an hour ago.

Doug/John - I've left 5 originals of each letter for Jeff's signature in his
office.? He will sign when he gets in and I will bring them around to you
around 8am.

?

Lari

 <<ESCROW Wiring 1.DOC>>  <<ESCROW Wiring 2.DOC>>  <<ESCROW Wiring 3.DOC>>

 - ESCROW Wiring 1.DOC
 - ESCROW Wiring 2.DOC
 - ESCROW Wiring 3.DOC


Cal-Imbalance deal is 650452. Inter-desk swap is 650453. (And this is Kate, not Kysa, for the record.)

Kysa M. Alport
Enron North America
503-464-7486


engram is ramiro's 4th receiver, you don't get a starting rb (the 10th best i
might add) for a backup WR.

the reason i want engram so bad is b/c i have his qb and i think he will have
a pretty good year.

by the way engram was picked the 8th round, dillon in the 2nd.

so don't give me any of that

"Bass, Jason" <Jason.Bass2@COMPAQ.com> on 08/24/2000 07:08:34 AM
To: "'Eric Bass'" <Eric.Bass@enron.com>
cc:
Subject: RE: Engram

Ramiro believes Engram is going to have a very good year.  He needs a
Running Back.  I don't think he is being ridiculous.  Engram may be ranked
30th now, but you obviously believe he is a little better than that or you
wouldn't want him so bad.

Jason Bass
TSE
Compaq Computer Corporation

 -----Original Message-----
From:  Eric Bass [mailto:Eric.Bass@enron.com]
Sent: Thursday, August 24, 2000 7:03 AM
To: Bass, Jason
Subject: Re: Engram

your boy is being ridiculous - does he really think he will get the 10th
best rb
for the 30th receiver?
---------------------- Forwarded by Eric Bass/HOU/ECT on 08/24/2000 07:01 AM
---------------------------

LQCOLOMBO@aol.com on 08/23/2000 06:12:52 PM

To:   Eric.Bass@enron.com
cc:
Subject:  Re: Engram

In a message dated 8/23/00 7:23:30 AM Pacific Daylight Time,
Eric.Bass@enron.com writes:

<< What Do you want for Engram? >>

At the very least, Corey Dillon


This deal was EOL ID 520766 on the 25th.  Neither the Sitara or EOL number is
in Tagg.  Please update the deal with the EOL and Sitara number.  It is very
important that you always put this information in Tagg.  In addition, make
sure you are updating Sitara with the Tagg numbers as well.  Thanks.

DG


Scott,

I appreciate your input. Thanks.

Vince

Scott Stoness@EES
11/19/2000 08:48 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Paula Warren/HOU/EES@EES
Subject: Re KRISHNARAO, PINNAMANENI V Review

I made a mistake and put comments for another person into Krishnar's PRC.
Please make sure that you ignore it if I can't get it fixed.  Below is what I
intended to put in.  My apologies.

I will get my assistant to get it deleted and put this information in on
monday.  It won't let me do it now.  I guess it does not pay to leave 30 or
40 reviews to the last day.  Paula: Please fix this for me and let Vince know
either that it is fixed or cannot be fixed.

Innovation/Entrapraneurship
No Basis

Communicating Goal Setting
No Basis

Team Work / Communication
Excellent.  Very easy to work with and get along with.

Business Instincts
Excellent.  Krishnar is consistent in asking to help out and asking what more
he could do to help us out.

Analystical Technical
Excellent.  Krishnar has a very strong grasp of what we are doing and how it
should be done.

Overall
Excellent.  My interactions with Krishnar have been limited but positive.
Krishnar is always positive with a positive attitude to get the job done.

Strengths:
Very strong analytical skills with a desire to add value.

Areas for Improvements
I don't understand Krisnar's role (is leading all research people on our
floor or just some) well and have had limited interaction with him.  {all has
been positive when it has ocurred} This suggests that Krishnar might spend
more time define what his people are doing and getting feedback about their
performance, and developing the project scope better.


<<2rz802!.DOC>>  <<2RZ8RED.DOC>>
Kay:

We did have a "form" LLC agreement in conjunction the letter agreement.  It
was most recently circulated in a Jan 4 e-mail from me and is the attached
draft dated Dec 15.  We may wish to tinker with the effective date
provisions of Section 2.5 and depending on whether XYZ is a corporation,
partnership or limited liability company, the entity representations in
Section 3.2.1 et seq. (I have also attached a marked copy reflecting the
differences between the prototype form and the final form signed in the
Intergen transaction).  If you need anything else, please let me know.
Thanks.

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

Enclosures 129572v2
  129344v7 R 129572v2

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Tuesday, February 27, 2001 8:45 AM
To: ccampbell@kslaw.com; jkeffer@kslaw.com
Subject: LLC agreement for turbine llc sale

Hi there,

Did you come up with a "form" llc agreement in conjunction with the form
letter agreement, or is the Coral LLC agreement the latest thing?

Thanks,

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.

 - 2rz802!.DOC
 - 2RZ8RED.DOC


As per our telephone call.
----- Forwarded by Mark Taylor/HOU/ECT on 01/08/2001 04:37 PM -----

	Tommy Yanowski/ENRON@enronXgate
	01/05/2001 11:11 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Philippe A Bibi/HOU/ECT@ECT
		 Subject: ECOutlook Term Sheet

Attached is a copy of the term sheet that we discussed over the phone.
Please review and let me know how you'd like to move forward.  Thanks!  -
Tommy


I am preparing handouts for the meeting, which will include an agenda, the
collateral annex, cover sheet and memo, the optional provisions, and the
committee organizational document.

If there are any other handouts for the meeting, please send them to me and
I will have them copied and inserted in the package.  --JCC

-----Original Message-----
From: Crespo, John
Sent: Friday, November 09, 2001 11:23 AM
To: 'Katz, Andrew'; Crespo, John; 'Cynthia Trueheart'; fmdutton@aep.com;
elizabeth.sager@enron.com; harlan.murphy@enron.com;
martyjo.rogers@entergykoch.com; wfhenze@jonesday.com;
nicole.daggs@mirant.com; Perlman, David M; ntrask@pwrteam.com;
drusso@reliantenergy.com; Shari_Stack@reliantenergy.com;
pdondanville@schiffhardin.com; babak.pooya@southernenergy.com;
'ecomer@eei.org'
Cc: Delgado, Madde
Subject: RE: RSVPs for Nov. 12 EEI Drafting Commitee Meeting

If you are driving to the meeting, please park in the spaces in front of the
building and the building opposite our building (near the traffic circle on
the west side of our building) that are labeled as guest parking for 2800
Eisenhower Avenue.  You will need to get a guest parking pass from the guard
at the front desk.  If the guard is not there, please let me or the
receptionist know, and we will make sure the pass gets taken care of.  --JCC

-----Original Message-----
From: Katz, Andrew [mailto:Andrew.Katz@constellation.com]
Sent: Friday, November 09, 2001 10:03 AM
To: 'Crespo, John'; 'Cynthia Trueheart'; fmdutton@aep.com; Katz, Andrew;
elizabeth.sager@enron.com; harlan.murphy@enron.com;
martyjo.rogers@entergykoch.com; wfhenze@jonesday.com;
nicole.daggs@mirant.com; Perlman, David M; ntrask@pwrteam.com;
drusso@reliantenergy.com; Shari_Stack@reliantenergy.com;
pdondanville@schiffhardin.com; babak.pooya@southernenergy.com;
'ecomer@eei.org'
Cc: Delgado, Madde
Subject: RE: RSVPs for Nov. 12 EEI Drafting Commitee Meeting

An agenda for the Nov. 12 Meeting.  It looks like dinner won't happen, but
Ed said he'd buy drinks Monday night.


Great time Sat night.  Thanks for the invite.  How is Christina?

-----Original Message-----
From: Pat Doyle [mailto:pdoyle@northmarq.com]
Sent: Monday, December 03, 2001 12:37 PM
To: Williams, Bob
Subject:

Enjoy!!

You can probably tell bt the name of the website that you should proceed
with caution!

-----Original Message-----
From: Luke Nolan [mailto:lukenolan@bankunited.com]
Sent: Wednesday, November 28, 2001 4:45 PM
To: pdoyle@northmarq.com
Subject: http://www.flashyourrack.com/flash.cgi?user=amber69

http://www.flashyourrack.com/flash.cgi?user=amber69

******************************************************************
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.
******************************************************************


Subject: EXECUTIVE COMMITTEE MEETING - TUESDAY, SEPTEMBER 5

Executive Committee Weekly Meeting
Date:  TUESDAY, September 5
Time:  11:00 a.m. (CDT)
Location: 50th Floor Boardroom
Video:  Connections will be established with remote locations upon request.
Conf call: AT&T lines have been reserved.  Please contact Sherri Sera
(713/853-5984)
  or Katherine Brown (713/345-7774) for the weekly dial-in number and
passcode.

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

 Yes, I will attend in person ____X___

 By video conference from _______

 By conference call  _______

 No, I will not attend  _______

*  *  *

Please return this e-mail to me with your response by 12:00 p.m., Friday,
September 1.

Thank you,
Katherine


Canadian Securities Acts.  (i) Each Transaction shall constitute an &OTC
Derivative8 as defined in the Securities Act (Alberta) and the Securities Act
(British Columbia) which have application to such Transaction and (ii) it is
a &Qualified Party8 within the meaning of paragraph 9.1 of Alberta Securities
Commission Order Doc#394043 and paragraph 1.1 of the draft British Columbia
Securities Commission Blanket Order BOR#91-501, as in effect on the date
hereof.]


Revised (continually being revised) customs risk assessment.  The note will
help get a handle on the facts.  India is upping the quality/number of legal
folks assigned to this (praise the Lord).  I will bet, however, that before
we are through, we may be back to a higher number.  But let's hope not.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
03/04/2001 10:35 PM ---------------------------

Jane Wilson
03/04/2001 05:24 PM
To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Neil
McGregor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Mark Schroeder@ECT, Robert Mathis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
skatwala@linklaters.com, Paul Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Heidi Hellmann/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mukesh
Tyagi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, K
Seethayya/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ashok
Mehta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Note

Attached is a note on the facts of the Customs issues as I understand them as
requested by Sandeep Katwala.  Also attached is a draft risk evaluation put
together by Heidi Hellmann.  Please note that two issues are not yet
evaluated and thus are not included in the risk evaluation: (i) loading a
portion of the services agreement to the supply agreement that is
attributable to power (at a 22.38% duty rate); and (ii) contractor delay
claims.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
03/04/2001 05:17 PM ---------------------------

Jane Wilson
03/02/2001 08:13 PM
To: skatwala@linklaters.com
cc:

Subject: Note

Here's the note:

Here's the risk evaluation.  Hit "view" to see it:


During the IT Offsite held on 10/12/01,  we formed a team of IT and business leads to develop high level information flows within and between EES and WHS.  The team was directed to identify business areas that would benefit from the integration and potential sharing of systems.  Todd Busby and I are leading this effort.

In summary, our 3 week project plan includes developing a baseline process and information flow diagram across EES and WHS for Jan. '02, recommendations to be implemented by June '02 and our business vision for one integrated EES/WHS system solution by June '03.  Beth Perlman provided Accenture on 10/15 to assist in the facilitation and analysis of the data gathered.

Todd and I began the project on Monday, 10/15/01 and we will complete our initial analysis on Friday, 11/02/01 (3 week effort).  Last week we completed a project scope, schedule and initial high level information flow diagram which I have enclosed below.  In summary, we are holding approx. 5 workshops a week with the business leads in the integration team.  On Wednesday, 10/31, we will spend the day with EES/WHS IT to complete systems overlay's on our business process and information flows.

I have sent invites for the meetings listed in the schedule below and look forward to working with you and your employees in the workshops.

Please call me with questions and comments regarding our plan and deliverables.

Thank you for your support on this effort.

Debra

Debra Bailey
East Power Desk
o: 713-853-1657
c: 713-569-4650


Kay, Hancock has delivered a revised letter that eliminates the language
related to "committee approvals".  At some point today, can you provide me
with a short matrix outlining the status of and the remaining risk related to
completing the items in paragraph two of Hancock's letter and other such CPs
in the Salmon Letter Agreement?  Once we have that, we should debrief Chris
and Louise as to our view on Delta's ability to close on the purchase.

 -----Original Message-----
From:  Thome, Stephen
Sent: Tuesday, April 03, 2001 4:53 PM
To: Schneider, Chip
Subject: 5 page efax from unknown

Here is Hancock fax

to open please load this reader:

---------------------- Forwarded by Stephen Thome/HOU/ECT on 04/03/2001 04:55
PM ---------------------------

"eFax.com" <eFaxAdmin@efax.com> on 04/03/2002 02:51:57 AM
To: stephen.thome@enron.com
cc:
Subject: 5 page efax from unknown

You have received a 5 page Fax document on
04/03/01 at 02:51:57 PDT

  * The reference number for this fax is 986334562-4259306612-18.

 - ca45fd18.efx


ERMS contact list....if you're interested

 -----Original Message-----
From: 	Wei, Zhiyong
Sent:	Tuesday, June 12, 2001 3:11 PM
To:	Keiser, Kam
Subject:	RE: contact list

Kam,

Please see the attached file for the information you asked for.

Regards

Zhiyong

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Monday, June 11, 2001 9:26 AM
To:	Wei, Zhiyong
Subject:	contact list

Zhiyong,

Since there are so many new people in your group we are not quite sure who we should call for specific issues.  Do you keep a responsibility matrix that we could use so we are not calling Jeremy for every issue?

Kam


fyi
---------------------- Forwarded by Kay Mann/Corp/Enron on 07/18/2000 05:44
AM ---------------------------

"ROB TAYLOR" <TAYLR@andrews-kurth.com> on 07/17/2000 07:03:45 PM
To: <kay.mann@enron.com>
cc: <Roseann.Engeldorf@enron.com>

Subject: ABB Transformer Agreement

Kay:

The revised draft of the ABB Contract that I received today looked fine.

Regards,

Rob Taylor
Andrews & Kurth L.L.P.
Chase Tower
600 Travis Street
Suite 4200
Houston, Texas  77002

Tel:  (713) 220-4436
Fax:  (713) 238-7273

robtaylor@andrews-kurth.com

This e-mail (and any attachment(s) hereto) is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail (and any attachment(s) hereto) is strictly
prohibited.  If you have received this e-mail in error, please immediately
notify me at (713) 220-4436 and permanently delete the original and any copy
of such e-mail and destroy any printout of such e-mail.


Do you know this canidate from your Jackson Walker days?
----- Forwarded by Richard B Sanders/HOU/ECT on 12/01/2000 07:18 AM -----

	Molly Magee
	11/30/2000 02:54 PM

		 To: Michelle Cash/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 cc: Twanda Sweet/HOU/ECT@ECT
		 Subject: Dee Doutel

Attached is a copy of Dee's resume.  She is scheduled to meet with you,
Michelle, at noon on Thursday.

Please let me know if you need any additional information.


The following seller was notified that you are
interested in the 687 SILVER PIGEON II
____________________________________________________
Name: LINDAVID SPORTS, LLC
Email: lindavidsports@aol.com
Phone: (402) 330-9458
----------------------------------------------------
As a courtesy please click below if you buy it:
http://www.gunsamerica.com/bought.cgi?query=200816
----------------------------------------------------
Gun Information:
GA Stock Number: 976090876
Price: $1,424
Description:
REDUCED:  12ga, 28", NIB, never fired, MC3.  Beautiful wood, low lustre finish, deep relief engraving of game scenes on receiver.  This gun has a small flaw (<2mm) in the stock.  Priced to move and I will guarantee your satisfaction.  You have 5 days to return the gun and I will pay the return shipping if you,re not happy.  This is a great offer for a serious shooter.

There is a photo at this link:
http://www.gunsamerica.com/imgview.cgi?fname=./upload/976090876.jpg

####################################################
Additional Seller Information:
FFL Dealer: Yes
Credit Cards: Visa Mastercard
Shipping Terms: Actual Cost
Return Policy: 3 Days (on used guns only)

####################################################


are we going to lunch?  i don't want you to flake out on me again and i miss my workout time!  :)


Mary,

I apologize!  I believe I sent you a joke by mistake, and I hope you are not
offended by it.  Also, when is your last day?  I wish you all the best!  Take
care.

Lara


As things begin to calm down somewhat after events of last week, we wanted to update all employees of certain organizational and personnel changes that have occurred recently.

Organizational Matters
The Creditors' Committee was formed last week by the United States Trustee.  This committee is comprised of 15 individuals representing various creditor groups including: banks, bondholders, insurance companies and employees.  The Creditors' Committee will be the key point of contact as we reorganize the company and emerge from Chapter 11.  Initially, they will send financial advisors to our offices to monitor any asset liquidations as well as review our cash flow projections.  Ultimately, they will be responsible for approving our reorganization plan as to which assets or businesses we sell and which ones we retain.

From an Enron perspective, the plans for reorganization have already begun.  Overhead has been reduced dramatically, certain employee retention programs have been put in place and a wider retention program is currently being developed.  We hope to share the wider retention program with you in the very near future.  Furthermore, detail cash flow projections are in their final stages of preparation and will be reviewed by senior management this week.  This will be the critical first step in formulating our reorganization strategy to emerge from Chapter 11 as a healthy company.

By now, you must have heard of "NETCO." This company was formed as a means to maximize the value of Enron's most valuable business, the wholesale energy business.  Certain Enron North America employees have been assigned to NETCO to re-build the North American gas and power business under different ownership.  We will be filing with the bankruptcy court this week proposed auction procedures to allow bidders to bid for NETCO.  It is our expectation that Enron would retain a 49 percent (or perhaps less) non-controlling interest in NETCO.  The NETCO employees would become employees of the winning bidder.  We anticipate this process to reach closure sometime in January.

As for the remaining businesses of Enron, they are all under review as to which ones will be proposed for sale and which ones will be proposed for retention.  This review process will take time as it will require approval of the Creditors' Committee.  We will update you periodically on our process.

Personnel Matters
As a result of our current situation, we have made many personnel changes over the past several months to maximize the value of the organization.

Office of the Chairman - Enron Corp
Jeff McMahon, Executive Vice President and Chief Financial Officer, has been added to the Office of the Chairman of Enron Corp along with Ken Lay and Greg Whalley.  Among other things, Jeff has been working on the business plan for reorganization in Chapter 11 and is the primary contact with the newly formed Creditor's Committee.

Treasurer - Enron Corp
Ray Bowen was elected to Executive Vice President, Finance and Treasurer of Enron Corp recently.  In this role, Ray is responsible for all finance activities of Enron Corp.  Ray also has the lead role in managing the cash activities of the company on a day to day basis.

Corporate Development
Mark Muller has been appointed Executive Vice President - Corporate Development.  In this role, Mark will work with Enron's various business units on all asset disposals, which will be a key element in Enron's reorganization plan and value preservation.

Wholesale Services
The Wholesale Services group has been reorganized under the leadership of Jim Fallon.  Included in this group are the following businesses, ENA, EBS, EIM and EGM.  As part of the Chapter 11 reorganization, efforts in these businesses will be directed at maximizing value for the creditors as well as determining which businesses or assets will be part of Enron's reorganization plan.

Management Committee Departures
Unfortunately, due to the current financial condition of the company, the following members of the management committee have left the company or will be leaving the company by the end of December:

Michael Brown
Mark Frevert
Steve Kean
Mike McConnell
Jeff Shankman

Additionally, John Lavorato and Louise Kitchen have resigned from the Management Committee to arrange for the joint venture energy activities of NETCO.

We know as employees the uncertainty surrounding the future of the company is unsettling.  Unfortunately, that aspect will not change in the near term.  We ask for everyone's patience and continued support as we move forward through the Chapter 11 process.  We are committed to reorganizing into a strong company once again and will need the help of all the employees to achieve that goal.


The report named: West VaR <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=36&report_name=West+VaR&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/27/2001>, published as of 11/27/2001 is now available for viewing on the website.


Could you send me the pro forma OATT and service agreement in electronic
format?

	Enron Capital & Trade Resources Corp.

	From:  "Nancy Pickover" <npickover@bracepatt.com>
03/14/2001 01:29 PM

To: <Christi.L.Nicolay@enron.com>, <donna.fulton@enron.com>,
<mary.hain@enron.com>, <snovose@enron.com>, <thane.twiggs@enron.com>
cc:
Subject: Orders/Notices

Please see attached.

 - ER011482.1
 - NR01-16.1
 - NR01-14.1


Is it 11 a.m. PST or central?  I've got a conflict around 11 a.m. Houston
time.  If it's 11 a.m. PST, I can do it.  Let me know.  thx. kd

Susan J Mara
12/07/2000 08:00 AM
To: Karen Denne/Corp/Enron@ENRON
cc: Jeff Dasovich/NA/Enron@Enron

Subject: Conference Call Tomorrow

I'll be in the air.  Can one of you call in?
----- Forwarded by Susan J Mara/NA/Enron on 12/07/2000 05:59 AM -----

	"Katie Kaplan" <kaplan@iepa.com>
	12/06/2000 01:54 PM
	Please respond to kaplan

		 To: "Tom Ross" <tross@mcnallytemple.com>, "Sue Mara" <smara@enron.com>,
"Stephanie-Newell" <stephanie-newell@reliantenergy.com>, "Rob Lamkin"
<rllamkin@seiworldwide.com>, "Richard Hyde" <rwhyde@duke-energy.com>, "Pigott
Jack" <jackp@calpine.com>, "Paula Hall-Collins"
<paula.hall-collins@williams.com>, "Norton Kelli"
<knorton@mcnallytemple.com>, "McNally Ray" <rmcnally@mcnallytemple.com>,
"Marty Wilson" <mwilson@pstrategies.com>, "Lynn Lednicky" <lale@dynegy.com>,
"Kristin Vellandi" <kvellandi@pstrategies.com>, "kent Palmerton"
<kent.palmerton@williams.com>, "Katie Kaplan" <kaplan@iepa.com>, "Kassandra
Gough" <kgough@calpine.com>, "Karen Edson" <kedson@ns.net>, "Julee
Malinowski-Ball" <jmball@ns.net>, "John Stout"
<John_H_Stout@reliantenergy.com>, "Joe Ronan" <joer@calpine.com>, "Jeff
Dasovich" <Jeff.Dasovich@enron.com>, "Jean Munoz" <jmunoz@mcnallytemple.com>,
"Jan Smutny-Jones" <smutny@iepa.com>, "Greg Blue" <gtbl@dynegy.com>, "Curtis
Kebler" <curtis_l_kebler@reliantenergy.com>, "Bob Weisenmiller"
<rbw@mrwassoc.com>, "Baker Carolyn" <cabaker@duke-energy.com>, "B Brown Andy"
<andybrwn@earthlink.net>, "Andy Brown" <ABB@eslawfirm.com>, "Douglas Kerner"
<DKK@eslawfirm.com>
		 cc:
		 Subject: Conference Call Tomorrow

Greetings:

My apologies for the delay in sending out this message.

We will be holding a PR call tomorrow at 11:00 a.m. to discuss this week's
session as well as ongoing PR efforts responsive to recent announcements and
what we are doing to move forward.

Agenda Includes:

o McNally/Temple Update/Upcoming issues

o Edson/Modisette Update/upcoming issues

o Upcoming Meetings
o Coalition Building

The call in number is 888-232-0365
Pass code:   111756

Let me know if you want to add anything to the rough agenda.
Thanks!

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499


Discuss review of SAP Controls with Ernst & Young


---------------------- Forwarded by Scott Neal/HOU/ECT on 08/07/2000 01:22 PM
---------------------------

Todd.Neal@chron.com on 08/04/2000 11:43:10 AM
To: holiday@btl.net
cc: sneal@enron.com
Subject: RE: Septe. 7-10,00

I hear you have excellent bone fishing.  We'd like to use light tackle for
lot's of action.

Todd

  -----Original Message-----
  From: Holiday Hotel [mailto:holiday@btl.net]
  Sent: Friday, August 04, 2000 10:14 AM
  To: Todd.Neal@chron.com
  Subject: Septe. 7-10,00

  Dear Mr. Todd Neal,

  There are several fishing guides on the island.  We will
need to know what
  type of fishing you are interested in doing then we can
provide you with a
  contact.

  Definitely no golf course on the island.

  We are looking forward to have you as our guest.

  Sincerely,

  Kim Reyes
  www.SanPedroHoliday.com

  ----- Original Message -----
  From: <Todd.Neal@chron.com>
  To: <holiday@wgs1.btl.net>
  Cc: <sneal@enron.com>
  Sent: Friday, August 04, 2000 7:14 AM
  Subject: RE: Auction Item

  > Ada,
  >
  > Our trip to your wonderful paradise is quickly
approaching.  We can hardly
  > wait.  I still need to make contact with a fishing guide.
I'd love to
  > discuss the possibility of fishing on Friday, 9/8 and
Saturday, 9/9.  Can
  > you help put me in touch with someone?  Also, is there
golf available on
  the
  > island?  If so, how would I make a tee time.  I'll look
forward to hearing
  > from you soon.
  >
  > Thanks,
  >
  > Todd Neal
  >
  > -----Original Message-----
  > From: Holiday Hotel [mailto:holiday@wgs1.btl.net]
  > Sent: Friday, February 18, 2000 9:00 PM
  > To: Todd.Neal@chron.com
  > Subject: RE: Auction Item
  >
  > At 12:18 PM 2/18/2000 -0600, you wrote:
  > >Kim,
  > >
  > >It's been a while since we spoke, but I think I'm ready
to
  > come see you
  > >guys.  I've made tentative flight arrangements for
  > September 7 arriving in
  > >Belize at 1:22 p.m.  My departure time is scheduled for
  > September 10 at 3:30
  > >p.m.  I understand that you will take care of transfers
to
  > San Pedro on
  > >Tropic Air.  How does this work and do you have
  > availability during my
  > >desired times.  Let me know what to do next.
  > >
  > >Thanks for everything.
  > >
  > >Todd Neal
  > >todd.neal@chron.com
  > >
  >
  >
  > Dear Mr. Todd Neal:
  >
  > We have confirmed a room for you in September 07 leaving
the
  > 10,00.
  > Room has a queen size and a twin. We will go ahead and
book
  > you on Tropic
  > Air 2:30 p.m. flight to the island and back on the 10th on
  > the 1:oo p.m.
  >
  > If you should have any questions please feel free to
contact
  > us.
  >
  > Sincerely,
  >
  > Ada Ayuso
  > SAN PEDRO HOLIDAY HOTEL> -----Original
  > Message-----
  > > From: San Pedro Holiday Hotel
  > [mailto:holiday@btl.net]
  > > Sent: Sunday, July 11, 1999 6:03 PM
  > > To: Neal, Todd
  > > Subject: Re: Auction Item
  > >
  > > Dear Mr. Todd Neal,
  > >
  > > We will extend the time period for you.  You
  > can use the
  > >package anytime
  > > between May 1,2000 through October 31, 2000.
  > You will need
  > >to make
  > > reservation prior to your arrival.
  > >
  > > Sincerely,
  > >
  > > Kim
  > >
  > >
  > >
  > > At 06:49 PM 7/6/99 -0500, you wrote:
  > > >Celi,
  > > >
  > > >Hi!  My name is Todd Neal and I was given a
  > vacation
  > >package to your
  > > >wonderful paradise.  The vacation package
  > was purchased as
  > >an auction item
  > > >through Amigos De Las Americas in January.
  > Unfortunately,
  > >I was just given
  > > >the item in the last few weeks and I'm of
  > the understanding
  > >it is only
  > > >available through Dec. 15.  There are also
  > block out dates
  > >from Nov. 20 -
  > > >Nov. 26.  Unfortunately do to several
  > personal and
  > >professional obligations,
  > > >I will be unable to use the package under
  > the current
  > >timeframe.  I am,
  > > >however, seeking an exception because I
  > would really like
  > >to visit your
  > > >wonderful hotel.  I'm hopeful that you will
  > consider
  > >extending the timeframe
  > > >through December 15, 2000.  Your
  > consideration would be
  > >greatly appreciated.
  > > >I'm looking forward to hearing from your
  > real soon.
  > > >
  > > >Thanks again,
  > > >
  > > >Todd Neal
  > > >todd.neal@chron.com
  > > >
  > >
  > >Attachment Converted: "C:\PROGRAM
  > FILES\INTERNET\EUDORA\Attach\RE Auction
  > Item"
  > >
  >


are you sure...have you ever been to bon coupe before
don't knock it till tou try it


Please send a copy of the Energy Gateway docs to Luis Derrota - EB838.


Have you heard anything about this? I can't get into this on the internet
from here but will certainly check into it when I get back.
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
07/26/99 05:25 PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  djcustomclips@djinteractive.com                           07/26/99
03:49 AM

Please respond to custom.news@wsj.dowjones.com
To: 94094@mailman.enron.com
cc:  (bcc: Mark - ECT Legal Taylor/HOU/ECT)
Subject: Derivatives: Ruling Against Texas Hospital Swap May Put Similar
Deals in Jeopardy

Ruling Against Texas Hospital Swap May Put Similar Deals in Jeopardy

  DALLAS -- A recent ruling that the El Paso County, Tex., Hospital District
illegally entered into an interest rate swap in late 1996 may imperil attempts
by other county health care providers to issue similar hedges, according to
officials familiar with ...

Published by: The Bond Buyer
Date: 07/26/1999
Word Count: 470
Relevance Score on Scale of 100: 89
Folder Name: Derivatives

Full-text article available at
http://nrstg1p.djnr.com/cgi-bin/NewsRetrieval?cgi=WEB_ST_WC_STORY&DBNAME=FINSE
RV&HDAN=TBBY9920700008&Search=Derivatives&QID=94094&QT=R&HDSC=TBBY

Articles are included at no charge for flat-fee corporate customers. (Under
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or contact your local sales representative.)
______________________________________________________________________
Copyright (c) 1999 Dow Jones & Company, Inc. All Rights Reserved


what do you think of this?  Please respond to just me.
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/25/2000
03:20 PM ---------------------------

	Enron North America Corp.

	From:  Spencer Vosko                           10/25/2000 12:57 PM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: IRAQ

With regards to the situation in Iraq, we have close contacts with Bayoil,
who is the largest lifter to the US. They remain very bearish the market
,though they are sold out on their november arrivals they have a lot of
barrels available in december. They feel the Euro situation will be of small
impact and they are seeing business as usual for november loading. As a side
note they are normally right about the Iraqi situation but last year they did
have vessels waiting at Mina al Bakr when the Iraqis cancelled loadings. I'll
let you know if they change their tune.


Mike / Jeff -

Please find attached a copy of the slide presentation Eskom (the state owned
utility in South Africa) will give to the Minister of Energy in early Dec.
Eskom, as a state owned entity, is involved in the development of the Black
Economic Empowerment mines (ie New Coal) as well as the traditionally
white-owned Junior Miners.  Eskom is a strong proponent of the expansion of
Richards Bay Coal Terminal or alternately the development of South Dunes Coal
Terminal.

As the Eskom presentation details, Enron is included in their plans to expand
their role in the RSA coal business regardless of which terminal is
developed.  Project Springbok is moving along well, and should result in
increasing flows from South Africa next year.  As a note Tom Kearney (London)
and Ivan van Niekerk (Joburg) have led this effort.  Ivan is with Enron
Metals, but it seems we have been able to borrow him on a virtual full time
basis - he has been great.
---------------------- Forwarded by George McClellan/HOU/ECT on 11/30/2000
02:07 PM ---------------------------

Tom Kearney
11/30/2000 11:58 AM
To: George McClellan/HOU/ECT@ECT
cc: Samuel Grossman/LON/ECT@ECT, Stuart Staley/LON/ECT@ECT, Ivan van
Niekerk/The Metal & Commodity Co Ltd/MGLTD@MGLTD
Subject: Eskom

George,

Eskom is presenting the attached document informally to the SA Minister of
Energy over the weekend.   Iscor has approved the concept (but don't know
Enron is behind it) and the Eskom Enterprises
Board has approved it (who do know we are behind the concept).

Under the structure of the transaction, in exchange for providing the same
throughput guarantees as other SDCT members, Enron would be allocated up to 2
mta of the expanded RBCT allocation in perpetuity.  For a limited period
(Francois mentioned 5 years), Black Economic Empowerment coal projects
approved by Enron/Eskom/Govt. would have first call on the Enron
allocation.     In addition, if it so chooses, Enron would be responsible for
marketing the BEE coal in export markets.  Enron would become a full-fledged
member of the SDCT and would be represented on the RBCT Board by an SDCT
representative (which could be Enron as well).

Bottom Line:  This is our informal invite to the dance.  RBCT is supposed to
formally communicate with SDCT about expansion on December 6.  On December 7
the SDCT interest group meets.  Shortly after that, Eskom will make this
proposal to government on a formal basis and then, if Government and SDCT
members approve, Enron will be invited to join the SDCT as a formal member.

Let the games begin!

---------------------- Forwarded by Tom Kearney/LON/ECT on 30/11/2000 16:32
---------------------------

"Francois Badenhorst" <Francois.Badenhorst@eskom.co.za> on 30/11/2000 13:30:14
To: <Tom.Kearney@enron.com>
cc:

Subject: PRESENTATION

30 November 2000

Regards
Francois Badenhorst

 - BEECoal Export Ind.ppt


Bill and I had a cc with Frank Kelly and Steve Stojic.  I believe that we are all of the opinion that we should file any contracts that materially deviate based on the new definition.  We discussed alternatives (there were none) and ways to mitigate exposure and possible exposure.  We probably should talk before tomorrow's meeting.  I'll get Ann and Sharon to set something up.  Dari

-----Original Message-----
From: Porter, J. Gregory
Sent: Tuesday, December 04, 2001 2:33 PM
To: Dornan, Dari
Subject: FW: Meeting - Recent Negotiated Rate Orders & Impact

FYI.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Call, Josie <Josie.Call@ENRON.com>
To: McCarty, Danny <Danny.McCarty@ENRON.com>; Hartsoe, Joe <Joe.Hartsoe@ENRON.com>; Porter, J. Gregory <greg.porter@ENRON.com>; Neubauer, Dave <Dave.Neubauer@ENRON.com>; Harris, Steven <Steven.Harris@ENRON.com>; Kirk, Steve <Steve.Kirk@ENRON.com>; Miller, Paul <Paul.Miller@ENRON.com>; Miller, Mary Kay <Mary.Kay.Miller@ENRON.com>
CC: Armstrong, Julie <Julie.Armstrong@ENRON.com>; Smith, Ann <Ann.Smith@ENRON.com>; Cappiello, Deborah <Deb.Cappiello@ENRON.com>; Robertson, Audrey <Audrey.Robertson@ENRON.com>; Bischoff, Barbara <Barbara.Bischoff@ENRON.com>; Iske, Linda <Linda.Iske@ENRON.com>
Sent: Tue Dec 04 13:21:31 2001
Subject: FW: Meeting - Recent Negotiated Rate Orders & Impact

A conference bridge has been set up for this call.
Dial-in:  1-877-795-3687
Code: 547874

 -----Original Message-----
From: 	Call, Josie
Sent:	Tuesday, December 04, 2001 11:32 AM
To:	McCarty, Danny; Hartsoe, Joe; Porter, J. Gregory; Neubauer, Dave; Harris, Steven; Kirk, Steve; Miller, Paul; Miller, Mary Kay
Cc:	Smith, Ann; Cappiello, Deborah; Robertson, Audrey; Bischoff, Barbara; Iske, Linda
Subject:	Meeting - Recent Negotiated Rate Orders & Impact

A conference call has been scheduled for tomorrow, Dec. 5, at 1:30 pm (Central time) to discuss the above subject.
Omaha participants, please meet in Room 724.
Houston & D.C. participants, we will call you.
If you are not able to participate or have a substitute participate, please let me know.

Thanks,
Josie Call
Rates & Certificates
402-398-7258
Fax: 402-398-7006


Dear Investor:
You contacted us in the past about our Service.
In this changing Stock Market we delight in being able to OFFER YOU a ? FREE Listen on a Special Hot-Line set up today June 8, 2001 and for the next 4 weeks.
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Teco Tap       37.500 / HPL Gas Daily

LS HPL LSK IC       30.000 / Enron


ANR posted new notice(s) since our last check at 12/5/2000 7:00:01 AM, the
newest notice looks like:

 Other, 12/05/2000 07:05, 12/05/2000 07:05, 03/31/2001 09:00, 357, Marshfield
Shippers: Impo

Please click the following to go to the web site for detail.

http://www.anrpl.com/GISB/swntccrt.asp


All,

Thank you for your time yesterday interviewing for the ENA Trading Track.    I would be grateful if you would not discuss feedback with any of the candidates until all offers are confirmed.  I will advise you when candidates have been notified.

Thanks once again.

Regards,

Karen.


chk email for demand-reduction details.  thx, jeff


Michael:

Attached is the final stranded costs analysis I have from Alan Comnes.  Note that there have been several additional deals recently announced.

Jennifer
5-3550


Attached is the Weekly Report from 9/20/01-9/26/01.

Lex Carroll
Enron East Power Marketing, Inc.
Midwest Origination
713-853-5426


Diana,
Here is the "official" UBS holiday schedule; however it says that certain business groups or areas may have to work during those holidays and would therefore get a floater for each holiday worked.  I hope this helps some.
-----Original Message-----
From: Fitzpatrick, Amy
Sent: Tuesday, February 05, 2002 11:13 AM
To: Davidson, Debra
Subject: FW: Holiday Schedule

Debra -

FYI.

Amy


Folks -- I was able to convert the documents provided to me into the tif
files attached.  Later Joe

 - Outline.tif
 - Interim Report.tif


Rob, we may be saying the same thing here - for the EES outsourcing
proposition (which is more than just asset management) as being defined by
Rodney et al should be managed together by Industrial Origination and ECC.
Although, I would agree that ECC should lead the sale process.  My view is
that we should not and will not recreate the structuring, customer facing and
execution requirements in Canada and Mexico required to do these deals. It is
an important strategic iniative for ENA to complete a number of these deals.
The problem is that a clear target list, joint accountabilities and schedule
between the groups has not been rolled out which was discussed at Columbia
Lakes.  All other industrial business other than P&P commodity/asset business
is the perview of ECC.

Ultimately, I have not seen any outsourcing transactions from Canada in the
deal structuring/due diligence queue.  The US group can help get these done
and can help in the pitch.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 08/04/2000
04:40 PM ---------------------------

Rob Milnthorp
08/03/2000 04:17 PM
To: David W Delainey/HOU/ECT@ECT
cc: Bryan Burnett/HOU/ECT@ECT, Rodney Malcolm/HOU/ECT@ECT
Subject: Re: Tembec and US Originators

Dave, my thoughts regarding your note:

This is not what we agreed to in Columbia Lakes. You were very clear on the
point that ENA Industrial Marketing had enough to do South of the border. We
have staffed up our Industrial Marketing Team in Toronto and are covering all
industrials (on a full-time basis) which meet our load threshold in Ontario.
Unlike the U.S., Ontario is a relatively small market where we can and have
complete coverage. Paul and his group have done a tremendous job at
positioning Enron in this marketplace, demonstrating our core competencies,
and developing credibility. The last thing I want is some marketer up here
from the U.S. selling the box without knowing how to fill that box (ie does
not know the market fundamentals, rules or regulatory regime). This does
nothing for Enron as it confuses the customer on who they should be talking
to and destroys whatever credibility we had created to date. I have attached
for your reference, a status report on industrial coverage.

Perhaps the problem lies in how we are defining outsourcing. As you know,
there exists a continuum from portfolio management through to the energy
island concept. Enron Canada has been pitching the entire outsourcing
continuum recognizing that for many of these industrials, they will want to
walk before they run. The majority that we have talked to are interested in
portfolio management, our market expertise & information, wholesale
settlement services, and assistance with market opening readiness. I cant
imagine how a U.S. originator could talk to or offer these services to
Canadian Industrials. This is clearly in Enron Canada's wheelhouse.

With respect to the opposite side of the outsourcing continuum, it makes
total sense to have ENA utilize its resources in pursuing energy island,
asset outsourcing type structures. With these opportunities, I see ENA taking
the lead with ECC second chair. Where these opportunities are identified by
ECC, we will forward these to the appropriate ENA originator. To date, ENA
and ECC have worked well on Blue Circle, Terra, Co-Steel and Nexfor.

As for Tembec, I am confused with what you mean by not changing the deal
team. Kelli Metcalf has been up here twice talking to Tembec about a cogen in
an area that does not make any economic sense. Jan and Paul have met with
Tembec a number of times and we have had extensive discussions with Tembec
specific to Ontario, Portfolio Management, Wholesale Settlement Services,
Supply Procurement, and Asset Optimization. I realize that Bryan Burnett has
an excellent relationship with Tembec and we should leverage off of this, but
to simply "keep ECC in the loop" is fundamentally absurd and is not in
Enron's best interests.

Regards
Milnthorp

David W Delainey
08/03/2000 12:09 PM
To: Rob Milnthorp/CAL/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON, Rodney
Malcolm/HOU/ECT@ECT, Bryan Burnett/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT,
Paul Devries/TOR/ECT@ECT
cc:
Subject: Tembec and US Originators

Guys, to end all arguments, I would suggest the following protocol which is
similar to what was discussed at Columbia Lakes:

 a) P&P swaps and anything to do with the network strategy/assets in the
paper sector in Canada and Mexico - Industrial Origination;
 b) Pure energy commodity positions and stand-alone energy assets (no
outsourcing) for all industrial segments in Canada and Mexico - ECC or Enron
Mexico;
 c) Energy outsourcing for all industrial segments in Canada and Mexico - I
would like Enron Canada and Enron Mexico to develop a written target list in
which ECC, Enron Mexico and the Industrial Origination groups would work
together to develop, sell and execute on the most profitable and value adding
outsourcing product for the industrial customer in Canada and Mexico - ECC
and Enron Mexico's understanding of the energy markets in Canada and Mexico
coupled with the customer facing, product development and execution skills in
Houston should provide a winning team.  I am asking for the three teams to
clearly identify the outsourcing targets, lead sales and structuring people
and the timing as far as starting discussion with each target customer
(ASAP).  I would hope that the Mexican and Canadian teams would lead the
sales process and the Houston team lead the structuring, customer facing and
execution but I will let you decide the optimum mix.  Either way, I am
expecting this target list completed and agreed to in the next two weeks for
Canada and Mexico;
 and d) for Tembec I don't think it makes sense to change the deal team at
this point; however, the US team will keep the Canadian team in the loop and
if the products become non-outsourcing related the deal should be passed to
ECC.

Regards
Delainey

---------------------- Forwarded by David W Delainey/HOU/ECT on 08/03/2000
12:31 PM ---------------------------

Rob Milnthorp
08/03/2000 09:46 AM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Tembec and US Originators

Dave, attached is some of the background correspondence in anticipation of
our meeting with Brian Burnett.

Regards
Milnthorp
---------------------- Forwarded by Rob Milnthorp/CAL/ECT on 08/03/2000 09:29
AM ---------------------------

Angela McCulloch
07/27/2000 11:07 AM
To: Rodney Malcolm/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT, James A
Ajello/HOU/ECT@ECT
cc: Rob Milnthorp/CAL/ECT@ECT
Subject: Tembec and US Originators

Rodney, Edward, Jim - We've been over this issue a number of times and I
thought we had reached resolution when we last met with Delainey.  My
understanding with respect to coverage of Canadian Industrials is as follows:

1.) ENA to take lead on industrials that have facilities in both US and
Canada and will co-ordinate coverage with ECC with respect to Canadian
Facilities.

2.) ECC to take lead on industrials that have Canadian Facilities only.

3.) With respect to Canadian Pulp & Paper Industrials, ENA will cover Pulp &
Paper Swaps and SPV structuring.  ECC will cover these industrials for all
other Enron products (i.e. power, gas, services, etc.) Again, coverage needs
to be co-ordinated.

Specific to Tembec, I share Paul's concerns on why ENA would send 2 people to
talk to Tembec re: outsourcing when Tembec is across the hall from ECC, ECC
has an established relationship, and Tembec is a Canadian Company with no US
facilities.

It is my hope that we can resolve this amongst ourselves without having to
get Dalainey involved. I would suggest a conference call next week.  In the
interim, Paul will forward a CA to Tembec in contemplation of an outsourcing
arrangement.

Regards,

Angela McCulloch for  Rob Milnthorp
Assistant to Rob Milnthorp
(403) 974-6738
---------------------- Forwarded by Angela McCulloch/CAL/ECT on 07/27/2000
11:04 AM ---------------------------

Paul Devries
07/25/2000 01:30 PM
To: Rob Milnthorp/CAL/ECT@ECT
cc:
Subject: Tembec and US Originators

Rob, We just had a very good meeting with Tembec about Energy procurement and
energy outsourcing.  While the meeting went well, I am very confused about
the Enron team making the pitch to them.  My understanding is that the
Canadian originators - particularly the Toronto team for Eastern Canadian
companies will be responsible for everything except for pulp and paper swaps
and to some extent, new SPV's.

In this instance,

1.  Tembec is a Canadian Company
2.  All their assets are in Canada
3.  Jan has been working with Tembec people in their largest facility
4.  We know the executive team at Tembec
5.  We clearly are very knowleadgable in all aspects of the Ontario energy
market which is their focus right now
6.  We understand and are pitching the overall energy outsourcing arrangement
similar to the US pitches

With this in mind, I am not sure why Kellie Metcalf and Bob Anderson flew up
here (6 hours flight time there and back, $4,000 to $5,000 in flights and
hotels) for a 4 hour meeting with Tembec.  Kelly was quite vocal in saying
that this is a client they want to serve out of Houston.  I have stated to
her that that does not make any sense in terms of efficiency and costs and
knowledge of the market where Tembec's assets are.  Obviously, much of the
technical engineering work would and should be done by the engineering team
put together in the Industrial Services Group should a deal be struck.
However, the commercial negotiations and marketing should be led by this
office!!!

I thought this had been agreed to already.  We managed to piece up the
meeting and deliver the "Enron" message, but going forward we need to have
this resolved.

Cheers, Paul D


Credit Support Annex and Paragraph 13


Carrie,

We have invited the team to dinner Thursday, 7:00 p.m.
Would you loike to join us?

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/24/2001
10:04 AM ---------------------------

Pamela Vande Krol Castro <castro@rice.edu> on 01/22/2001 06:18:16 PM
To: Kenneth.Parkhill@enron.com, vkamins@enron.com
cc:
Subject: Enron ALP

Dear ALP Company Representatives:

Thank you again for your participation in the ALP Company Day at Rice
University. We are pleased to inform you that your project proposal has been
chosen for the 2001 ALP program. The following students will be working on
your project:

CALABRESE, luigi????????luigical@rice.edu
GHOSE, Ivy??????????????ghosei@rice.edu
GHOSH, Ronnie???ghoshr@rice.edu
IQBAL, Syed?????????????iqbal@rice.edu
SUD, Pravas?????????????pravas@rice.edu
WOMACK, Charles?cwomack@rice.edu

The faculty liaisons for your project are:

BARRETT, Deborah????????????????barrett@rice.edu
UECKER, Will????????????????????uecker@rice.edu
LOUGHRIDGE, Dennis??????loughrid@rice.edu

A representative from the student team will contact you soon to set up a
meeting time. If you need to contact your team, I have included the students'
email addresses. They check their email on a regular basis, so this is a good
way to communicate with them.

Please let me know if you have any questions regarding this information.
Again, thank you for your interest in the Jones School. Best wishes for a
great project!

==============================================================
Carrie Chamberlin Miller
Director of MBA Program
Rice University
6100 Main Street, MS 531
Houston, Texas 77005-1892
Phone: (713) 348-5260
Fax: (713) 348-5251
E-mail: cmiller@rice.edu
http://www.ruf.rice.edu/~jgs/

Pamela Castro
MBA Program Associate
Rice University
Phone: 713-348-6223
FAX: 713-348-5251
E-mail: castro@rice.edu


I am changing the way the curve is generated starting in Jan 2004 to better
replicate seasonal fundamentals.  There are convincing arguments as to why
the summer/winter spreads should tighten over time.  However, in the previous
methodology they blew out.  For instance summer/winter in Cal 3 was .232
while Cal 10 was .256.
I have added a seasonality dampening function that both contracts the
summer/winter spread and applies a premium to the electric load demand months
of July and August over time.

The formula for the curve remains the same except for a premium lookup for
the month as well as for the year.  These premiums are as follows:

Jan  -.008
Feb -.004
Mar -.001
Apr .002
May .003
Jun .004
Jul .004
Aug .004
Sep .003
Oct .002
Nov -.003
Dec -.006

These premiums start in Jan 2004
On Wednesday Jan 2003 settled 2.959,  the 3/4 spread was marked at .0375, the
4/5 spread was marked at .0475.
In the old methodology
Jan 2003  = 2.959
Jan 2004  = 2.959 + .0375 = 2.9965
Jan 2005  =          2.9965 + .0475 = 3.044

In the new methodology
Jan 2003  = 2.959
Jan 2004  = 2.959 + .0375 - .008 =2.9885
Jan 2005  = 2.9885 + .0475 -.008 = 3.028

The only change in the formula is from:
Month x = Month (x- 1 year) + lookup on year on year table
to
Month x = Month (x- 1 year) + lookup on year on year table + lookup on month
premium table

The seasonality premiums will change over time and I will let you know when I
change them


are you and scott available this weekend to look at the place i'm thinking
about renting in stinson for prentice's birthday?


I didn't even know about deal 219618.  I will chat with Dick Jenkins about
this after trading.

Drew Hill
05/17/2000 02:14 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Nat Fuel

Chris, I have researched the buy and sell from/to AEC Marketing for 4/2000.
Here are the details:

Location:  7126-NFUL/TRCO LEIDY TRANSCO

  transport demand charge(4/2000)    = $56,078.82

Deal   227196 purchase 9189/day @ NX1 + .22 (3.12)

Deal  219618 sell              6000/day @ Michcon Citygate G.D. M.I. +
.39(3.39)

It seems as though ENA is recouping the demand charge only on 6,000 mmbtu per
day.  Do you know if the additional reimbursement has been locked in?
Perhaps on the financial side?
I