Bush Adviser Rove Owns Stock in Major U.S. Firms
The Wall Street Journal, 06/04/01

Saudi Arabia Sets Pacts With 9 Oil Firms
The Wall Street Journal, 06/04/01

Saudi Arabia in Pacts With Nine Global Oil Firms Energy: Deals to develop
natural gas fields and other projects, worth at least $25 billion, are first
major foreign funding in sector since 1975.
Los Angeles Times, 06/04/01

Enron is my spiritual teacher
The San Francisco Chronicle, 06/04/01

Gloom today, glut tomorrow
The San Francisco Chronicle, 06/04/01

INDIA: Rating firms may be judging India harshly-analysts.
Reuters English News Service, 06/04/01

INDIA: India rupee ends off lows, fwds close higher.
Reuters English News Service. 06/04/01

UK: Spectron trades UK's first post-NETA spark spread.
Reuters English News Service, 06/04/01

INDIA: Enron India lenders meet in Singapore on Tuesday.
Reuters English News Service, 06/04/01

INDIA: UPDATE 1-India's Prabhu says power reforms enter new phase.
Reuters English News Service, 06/04/01

Nigerian president slams US energy firm Enron for "poor performance"
BBC Monitoring, 06/04/01

India: India and Bush Administration: Beyond assumptions
Business Line (The Hindu), 06/04/01

Enron's Indian Creditors Seek to Salvage Dabhol Project
Bloomberg, 06/04/01

Enron Japan's Hirl on Power Deregulation: Commodity Comment
Bloomberg, 06/04/01

Bush Adviser Rove Owns Stock in Major U.S. Firms
By Jim VandeHei
Staff Reporter of The Wall Street Journal

06/04/2001
The Wall Street Journal
A4
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- President Bush's chief political strategist owns hundreds of
thousands of dollars worth of stock in companies potentially affected by the
president's top legislative priorities, newly released federal records show.
Karl Rove, one of the president's most trusted advisers on almost every major
legislative initiative, owns between $100,000 and $250,000 of stock in Enron
Corp., Pfizer Inc., General Electric Co., Boeing Co. and Johnson & Johnson,
among other holdings. (Federal law requires public officials to report their
assets, income and debts in broad ranges only). All of these companies could
be affected by one or more of the policies or legislative initiatives on
which the president consults Mr. Rove: tax cuts, increased defense spending,
an industry-oriented energy policy and health-care reform.
Mr. Rove said yesterday that he has been waiting for several months for
approval from the Office of Government Ethics to sell all of his stock
holdings and roll the proceeds into a diversified account without having to
pay capital-gains taxes, as permitted by federal law. In the meantime, "I
have had to avoid being involved in matters that specifically and materially
affect my specific holdings," Mr. Rove said.
Mr. Rove said he filed his financial disclosure reports Dec. 30 and was later
informed by the Office of Government Ethics that he should sell all of his
stock holdings to avoid even the appearance of a conflict of interest.
But the government ethics office, which couldn't be reached for comment
yesterday, has yet to officially grant Mr. Rove a certificate of divestiture,
which would allow him to roll his proceeds into diversified accounts,
according to White House spokeswoman Anne Womack. It appears that Mr. Rove
has lost tens of thousands of dollars as a result of the delay because most
of his stocks have lost value since the beginning of the year.
Mr. Rove insisted that he has been careful to avoid any discussions that
directly affect companies he is invested in, as federal conflict-of-interest
laws require. But that can't be easy for Mr. Rove, widely regarded as one of
the most powerful and influential figures in the White House. Mr. Rove serves
as the president's top political adviser and runs the administration's
long-term strategy team. He is also the president's top liaison to outside
groups, including corporations.
"He's involved in virtually every decision that is made here," says a White
House aide. It is unclear how many times, if ever, Mr. Rove recused himself
from discussion inside the White House.
President Bush, already under fire from Democrats for his administration's
close ties to industry, is likely to draw more scrutiny as a result of the
new disclosures of financial links between top White House officials and
major U.S. corporations, especially energy firms.
The White House disclosed the personal finances of Mr. Rove and several other
top administration officials at the behest of the media. It appears that as a
result of an administrative backlog, Mr. Rove is the only member of the
senior staff who hasn't been given the green light to sell his stock,
according to a White House aide.
The reports show that Mr. Rove was one of several White House officials with
a financial connection, past or present, with Enron and other energy
companies. Larry Lindsey, the president's top economic adviser who helped
draft the energy plan, received $50,000 from Enron in 2000 for consulting
work he did for the company, the documents show.
Lewis Libby, chief of staff to Vice President Dick Cheney, who was chairman
of the White House task force that wrote the energy plan, recently sold tens
of thousands of dollars of stock in Enron and other energy companies,
including Texaco Inc., Exxon Mobil Corp. and Chesapeake Energy Corp. It is
unclear when the transaction went through.
Clay Johnson, director of presidential personnel, reported holding between
$100,000 and $250,000 in El Paso Energy Partners LP. And National Security
Adviser Condoleezza Rice had $250,000 to $500,000 worth of Chevron Corp.
stock and was paid $60,000 last year for her work as a director at the
company. Mr. Rove disclosed smaller holdings in BP PLC and Royal Dutch/Shell
Group.

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

International
Saudi Arabia Sets Pacts With 9 Oil Firms

06/04/2001
The Wall Street Journal
A17
(Copyright (c) 2001, Dow Jones & Company, Inc.)

JEDDAH, Saudi Arabia (AP) -- Saudi Arabia signed agreements with nine oil
companies yesterday, a move that marks the first major foreign investment in
its energy sector since the industry was nationalized in the 1970s.
The expected deal, valued at $25 billion at least, involves the development
of three natural-gas fields in the kingdom, as well as a number of related
power plants, transmission pipelines and water-desalinization projects.
Exxon Mobil Corp., the world's largest publicly traded oil company, is the
lead manager on two of the projects, including the $15 billion Ghawar Core
Venture 1 project. It also will lead the Red Sea Coast Core Venture 2
project. Royal Dutch/Shell Group was chosen to lead the Shaybah Core Venture
3 project.
The Western companies will help Saudi Arabia convert its utilities from oil
burning to natural gas, which would free up more of the kingdom's crude oil
for export.
The other companies selected were BP PLC, TotalFinaElf SA, Conoco Inc.,
Phillips Petroleum Co., Occidental Petroleum Corp., Enron Corp. and Marathon
Oil Canada Inc.
Saudi Arabia's state-owned energy company, Saudi Aramco, will be an equity
owner in the projects.
Saudi Arabia nationalized its oil fields in 1975 after tension caused by the
Arab oil embargo against the West that began two years earlier, and it closed
its energy exploration and production sectors to foreign investment.
Although locked out of the production of energy, Exxon Mobil has $5 billion
in refining and petrochemical joint ventures in the country, and it said it
is also the largest foreign purchaser of crude oil and other hydrocarbons
from Saudi Aramco.

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

Business; Financial Desk
Saudi Arabia in Pacts With Nine Global Oil Firms Energy: Deals to develop
natural gas fields and other projects, worth at least $25 billion, are first
major foreign funding in sector since 1975.
From Associated Press

06/04/2001
Los Angeles Times
Home Edition
C-2
Copyright 2001 / The Times Mirror Company

JIDDAH, Saudi Arabia -- Saudi Arabia signed agreements with nine
international oil companies Sunday, a move that marks the first major foreign
investment in its energy sector since nationalizing the industry in 1975.
The deals, worth a total of $25 billion or more, involve the development of
three natural gas fields in the kingdom and a number of related power plants,
transmission pipelines and water desalinization projects.
The Western companies will help Saudi Arabia convert its utilities from
oil-burning to natural gas, which would free up more of the kingdom's crude
oil for export.
Exxon Mobil Corp., the world's largest publicly traded oil company, is the
lead manager on two of the projects, including the $12-billion-to-$16-billion
Ghawar Core Venture 1 project. It also will lead a second core project. Royal
Dutch/Shell was chosen to lead a third project. The last two projects have a
value of $7 billion to $10 billion each, Prince Saud al Faisal told
reporters.
The other companies selected were BP of Britain, TotalFinaElf of France,
Conoco Inc. of Houston, Phillips Petroleum Co. of Bartlesville, Okla.,
Occidental Petroleum Corp. of Los Angeles, Enron Corp. of Houston and
Marathon Oil Co. of Houston.
Harry Longwell, director and senior vice president at Exxon Mobil, said the
financial terms of the deal are still being discussed. But he said his
company is ready to begin the work when the final contracts are signed.
"The Saudis' expectations are extremely aggressive," Longwell said. "It's a
very tight schedule and in recognition of that, the ability to get this done
is one of the key reasons we were chosen to lead two of these ventures. We
already have a senior management team in place and are ready to go to work
immediately."
Saudi Oil Minister Ali Ibrahim Naimi said the companies are expected to
profit on returns from the exploration and development of gas fields with
more than 15% of the investment cost.
Saudi Arabia's state-owned energy company, Saudi Aramco, will be an equity
owner in the projects.
Saud said if the companies discover oil, they will be compensated and the
fields will be repossessed by Saudi Arabia.
Saudi Arabia nationalized its oil fields in 1975 and closed its energy
exploration and production sectors to foreign investment.
Although locked out of the production of energy, Irving, Texas-based Exxon
Mobil has $5 billion in refining and petrochemical joint ventures in the
country and is the largest foreign purchaser of crude oil and other
hydrocarbons from Saudi Aramco.

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

DAILY DATEBOOK
JON CARROLL
Enron is my spiritual teacher
Jon Carroll

06/04/2001
The San Francisco Chronicle
FINAL
E.10
(Copyright 2001)

THE BUDDHA SAYS that we take wisdom where we find it. Perhaps the Buddha does
not say that, but it's not a bad idea anyway. The Buddha would have said it,
maybe, had he not been saying the other things.
Our enemies can teach us lessons. Our adversaries can make us stronger. They
can be consumed with greed and contempt, their very breath can be toxic, and
yet their actions can open upward-flowing paths.
Take Enron, the energy company, or Chevron, another energy company, or El
Paso Natural Gas, yet another energy company. These organizations are the
minions of Satan. They pillage and they profit. They are in the ascendant.
Their enemies fall before them like cordwood. Ordinary citizens cower and
meekly hand over tribute.
And yet we thank them. We send our investigators after them and we pray that
their executives land in jail, but we thank them. They have shown us the
nature of our enslavement. They have defined the nature of our sloth.
We have believed the Big Lie. We have believed in the free lunch. We have
trusted those who would pander to us. We have eaten energy in great dripping
gobs. Did we know it was not infinitely renewable? Oh yes. Did we understand
that energy companies could create "shortages" whenever they wanted merely by
closing plants for "maintenance"? You bet we did. And did we confuse the
energy companies with charitable organizations and/or alchemists able to
repeal the laws of nature? We did not.
But it was more convenient to forget those things, and so we did. We have
busy lives. We must do the things we must do. The infrastructure is
everywhere crumbling, and we are patching it up ourselves. We are paying
bureaucrats with taxes, but the bureaucrats are inadequate, so now the spirit
of volunteerism is much praised.
Volunteers are people who do jobs that other people are being paid to do but
don't.
AND SOMEHOW, EVEN in a society as relentlessly materialistic as this one, we
forgot about our own checking accounts. Already seduced by the idea that
credit card debt is good clean fun, we decided to waste a lot of money using
energy we didn't need.
I'm not talking about using a washing machine instead of going down to the
river and beating your clothes with small stones -- I'm talking about washing
machines with quarter-full loads and settings far too powerful for the task
at hand. Right? Lights burning in unoccupied rooms. Appliances plugged in but
never used.
We pay for it. We send our wonderful money straight to the largest villains
in American commerce because we are too stupid to do anything else. You
wonder why they have contempt for us. You wonder why Dick Cheney believes he
can fool all of the people all of the time. Because he has.
Look: Last week the secretary of commerce suggested means-testing Social
Security -- that is, means-testing a pension plan. You gave us the money, we
kept it for 40 years, now -- prove that you need it!
Why did he suggest that? Because he can! Why did PG&E demand additional
compensation for its executives, who are moral dimbulbs and social criminals
under any fair definition? Because they can get away with it! They will get
away with it! You watch!
I AM NOT saying that we have no one to blame but ourselves. There are active
villains, and there are people who allow villainy to occur. Everyone in a
corrupt system is corrupt. The fools are the ones who don't end up with any
extra money.
We are the fools. If we understand our foolishness, we begin to be wise. We
send lovely bread-and-butter notes to Enron -- once we were blind, but now we
see. And we await developments, or create them.
--------------------------------------------------------
It would be foolish to mention SUVs. When the brain is ready, the ear will
hear.

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

EDITORIAL
WASHINGTON INSIGHT
Gloom today, glut tomorrow
Carolyn Lochhead

06/04/2001
The San Francisco Chronicle
FINAL
A.19
(Copyright 2001)

WHAT GOES UP usually comes down. And few industries are more prone to boom
and bust than energy.
Imagine the news stories a few years from now: "Crisis hangover -- energy
stocks sink as prices plunge; But California consumers still stuck with high
bills."
"The energy industry is suffering its worst downturn since the supply glut of
the 1990s, as dozens of big new power plants come on line, and the
just-completed Alaskan gas pipeline sends natural gas prices to their lowest
levels in six years.
"The one bright spot for Texas generators is California, where consumers are
locked into long-term contracts for wholesale electricity that the state
signed at the peak of its blackouts in the summer of 2001.
"Sacramento lawmakers have appealed to President Daschle to help get the
state off the hook, arguing that California will never claw its way out of
its economic slump if businesses continue to flee to states where energy is
cheap.
"But top Enron lobbyist Gray Davis, a former governor of California, warned
Daschle that suppliers would have little choice but to go to court to enforce
the contracts the state signed."
Washington and Sacramento are agog with the energy crisis and bursting at the
seams with plans to fix it. But the one thing no one - - even
environmentalists -- suggests is letting high energy prices discourage energy
consumption or encourage new supplies.
"To economists, letting the price rise is the solution," said Paul Portney,
president of Resources for the Future, a Washington think tank. "To elected
representatives, having the price go up is the problem."
Political memories tend to be selective and short. But it was the energy glut
of the 1990s that contributed to California's blackouts, $3 gasoline and
$400-a-month heating bills. Likewise, high prices are now laying the seeds of
their own destruction.
As a story in the New York Times noted, an energy investment boom "promises a
cyclical increase in supplies that is expected to stabilize or reduce prices
in coming months, many industry executives and private analysts say."
Through much of the 1990s, there was a glut of energy. Fuel of all kinds was
really cheap.
How cheap? Adjusted for inflation, as cheap as in 1949, economists calculate.
Energy is the oxygen of the economy, and rock-bottom prices contributed to
the long economic boom. But low prices also caused energy production to slump
and consumption to soar.
People ditched their economy cars for SUVs. Houses got bigger, ceilings got
higher and kitchens sprouted industrial stoves with enough BTUs to melt
aluminum. Stores, offices and homes turned into summertime refrigerators.
Low prices discouraged energy development.
"Oil was so cheap for so long, that people were selling their refineries,"
Portney said. "You had virtually no exploration for new natural gas when
prices were at $2 a BTU."
As demand soared and supply fell, prices rose. Profits have grown so robust
that green fuels, such as biomass and wind, are becoming economically viable.
The oil industry is booming. Refineries are expanding. The long-delayed
construction of a natural gas pipeline from Alaska now looks likely. So many
power plants are under construction that the market may be flooded with as
much as 200,000 new megawatts by 2004.
Investments in energy efficiency -- from new-age superconducting transmission
wires to better light bulbs -- are suddenly looking attractive for the first
time in decades.
"High prices will dampen demand, high prices will encourage supply, and will
encourage people to make better use of what they've got," said Robert Ebel,
director of energy for the Center for Strategic and International Studies.
"So we're starting on the down slope. We're not very far down. When prices
start to decline, I can't say how far they will go. But they will decline,
because that's just the law of supply and demand. Prices decline, demand
starts to creep up again, there's less incentive to add to supply, and here
we go again."

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

INDIA: Rating firms may be judging India harshly-analysts.
By Vidya Ranganathan

06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, June 4 (Reuters) - Analysts have reacted with surprise to last week's
decision of ratings agency Fitch to cut India's sovereign ratings outlook to
negative from stable, and say there are no grounds to downgrade the country.
Fitch, which rates India's foreign currency obligations at BB-plus, a notch
above Moody's Investors Service and Standard & Poor's, cited concerns about
fiscal policy, privatisation and deterioration in foreign investment climate.
However, economists speculated it could either be on account of Fitch
adjusting its ratings in line with other global agencies, or a fallout of
U.S. energy giant Enron Corp's threat to exit an Indian power venture over
payments problems.
Moody's and S&P said on Friday they have not revised ratings or outlook but
are disappointed with fiscal reform efforts.
Local currency and stock markets reacted nervously to the announcement, but
economists said most concerns were exaggerated.
"When the direction of reforms is positive and government flows are
improving, the outlook should not change," said Mohan Nagarajan, chief
economist at local rating agency CARE Ltd.
Even if the provocation for the rating review was the Enron episode, analysts
said the problems were specific to the power sector and will not affect the
robust foreign investment the country has been receiving.
"Enron was a bad deal, made on unreasonable terms in the first place and does
not reflect the ability of the government to pay its dues," said an economist
with a U.S.-based fund.
Some of the confusion arises from the various ratings assigned to India.
Moody's has retained a positive outlook on its Ba2 rating since late 1999,
while S&P has a stable outlook and a BB rating.
CONCERNS OVERSTATED
Analysts said none of the factors Fitch cited had deteriorated in the past
year, since it first rated India.
Fitch said India's fiscal-monetary mix was unfavorable, real interest rates
were high and there was the risk of a debt trap.
India marginally overshot its budgeted fiscal deficit in 2000/01
(April-March) to 5.2 percent of GDP, down from the previous year's 5.6
percent.
But laws to control government spending are awaiting parliament's approval,
there are incentives for disciplined state governments and a determined
effort at privatising state-run firms has begun.
Burgeoning fiscal deficits have persisted for a decade and public debt at 60
percent of GDP is high, but at six percent annual growth, India is one of the
fastest expanding economies in Asia.
"In terms of external liquidity, India is much stronger than its BB+ rating
while even its public debt to GDP ratio is lower than that of some Asian
nations," said P.K. Basu, chief economist for South East Asia at Credit
Suisse First Boston, Singapore.
Foreign investment has been pouring in - portfolio flows at $2.2 billion so
far in 2001 are at record levels and compare with $1.56 billion for the whole
of 2000 - and foreign exchange reserves are strong at $42.8 billion.
Interest rates and yields have also dropped, with the Reserve Bank of India
(RBI) adopting an aggressive easing stance this year to prop the slowing
economy, and inflation is benign.
"The hardest initial steps are being taken and there is still a lot of
inertia, but soon there will be a willing audience and reforms can progress
faster," CARE's Nagarajan said.
But critics said the changes were still very superficial and structural
reforms that would spur long-term growth and demand were lacking.
"What the rating agencies have emphasised is fiscal consolidation, which
means better revenue streams, efficient expenses, user charges for public
utilities...we promised these three years back and haven't moved very far on
those," said Saumitra Chaudhari, economist with local rating agency ICRA Ltd.
"We still do not have a securities bill, mature debt market and our banks
have not cleaned up,".

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

INDIA: India rupee ends off lows, fwds close higher.

06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, June 4 (Reuters) - The rupee ended unchanged on Monday, recovering
from the day's low after a large European bank sold dollars, dealers said.
It had slipped to a low of 47.04 per dollar in early deals on dollar
purchases by a jewellery importer.
The rupee ended at steady at d47.01/02 per dollar.
Dealers said there was no impact of Friday's comments from international
rating agencies which had raised concerns over continuity of foreign
investment and dragged shares lower.
The currency recovered from lows around 47.085 on Friday, reacting to
international rating agency Fitch's revision in the outlook for India's
ratings on sovereign debt to negative from stable, citing worries about
fiscal policy, privatisation and deterioration in the country's foreign
investment climate.
Later, rating firms Moody's and Standard & Poor's (S&P) said they were
disappointed over the government's reform effort.
Moody's also raised a concern about India's Maharashtra state utility's
ongoing tussle with Houston-based Enron Corp and said: "the dispute indicates
that India's government may not be willing to live up to its contractual
obligations".
It added this would further deter foreign direct investment from coming into
the country.
The comments weighed on bond prices, which extended losses on Monday, and in
turn led to paying in dollar forwards.
"After a long gap, there was corporate paying interest in forwards today," a
dealer with a state-run bank said.
The six-month forward ended at an annualised 5.10 percent compared with
Friday's 4.95.
For a speed guide to Reuters treasury coverage, ((Bombay Treasury Desk, +91
22 265-9000 fax +91 22 264-1699, vidya.ranganathan@reuters.com)).

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

UK: Spectron trades UK's first post-NETA spark spread.

06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, June 4 (Reuters) - Energy brokerage Spectron said late on Friday it
had traded the first brokered gas-electricity arbitrage, or "spark spread",
deal in the UK since the launch in March this year of new electricity trading
arrangements (NETA).
"Now that liquidity has returned to the electricity market post NETA, such
transactions are expected to become more common...", said Spectron in a
statement.
The deal was concluded between UK utility Powergen and U.S. energy group
Enron .
Spectron said the trade, covering winter 2002, was for 60 megawatts of
electricity at 21.42 pounds a megawatt hour and for 100,000 therms of gas at
24.85 pence a therm.
The winter period specified in the deal ran from October 1 to March 31.
For the electricity, one day was defined as 2300 hours to 2300 hours.
For the gas, one day was 0600 hours to 0600 hours.
The deal comes as the industry moves to create standard terms and conditions
for spark spreads.
Powergen is due to meet in mid-June with other traders, including Aquila
Energy , for talks aimed at agreeing standard terms.
"It is hoped that the market will soon establish standardised documentation
leading to a standardised product that will help promote liquidity in one or
more levels of efficiency," said Spectron.

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

INDIA: Enron India lenders meet in Singapore on Tuesday.
By Sriram Ramakrishnan

06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, June 4 (Reuters) - Lenders to Enron Corp's troubled Dabhol Power
Company begin a two-day meeting in Singapore on Tuesday to try and settle
differences over continued support to a controversial $2.9 billion power
project in India.
Representatives of some of the world's largest banks like Citibank , ABN AMRO
, and Bank of America, will be at the meeting. Indian lenders like the
Industrial Development Bank of India , State Bank of India and ICICI will
also participate.
Market analysts speculate that the meeting will attempt to forge a joint
stand on supporting the project which now produces 740 MW of power and is
slated to increase it to 2,184 MW shortly in its second phase.
But it comes against a backdrop of rising tension between Dabhol and the
Indian state utility, the Maharashtra State Electricity Board (MSEB), which
is the sole buyer of Dabhol's electricity.
Indian lenders, who have lent the bulk of the funds to the plant, want to
continue supporting the project.
But they are being opposed by offshore lenders who want to withdraw their
loans. Loans of around $638 million of the offshore lenders are covered by
guarantees provided by Indian institutions.
The Indian lenders, fearing for their profitability if the foreign banks pull
the plug, plan to oppose any such move.
But they have been forced on the backfoot by MSEB's decision last week to
stop buying power from Dabhol and terminate its 1995 contract with the
company under which it agreed to lift the entire output.
The MSEB has complained that Dabhol produces costly power while Dabhol has
blamed MSEB for defaulting on payments worth $48 million.
Last month, Dabhol issued a preliminary notice to terminate its contract to
sell power. It has also filed for arbitration in London. This provoked MSEB
to haul Dabhol before a local regulatory body, the Maharashtra State
Electricity Regulatory Commission (MERC), which issued a temporary order
staying the arbitration proceedings.
The dispute has already affected India's image among foreign investors.
Last week, global rating agency Moody's expressed concern over slippage in
the Indian government's reform programme and cited the Enron's dispute as an
example that the country may be losing credibility with foreign investors.
"The dispute indicates that India's government may not be willing to live up
to its contractual obligations. As a consequence, this would further deter
foreign direct investment from coming into the country," Moody's said.
India's federal Power Minister Suresh Prabhu tried to dispel those fears in
an interview with Reuters on Sunday.
"India is always in favour of making sure that international contracts are
respected," he said. "There is no need for concern." ($1 = 47 Indian rupees).

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

INDIA: UPDATE 1-India's Prabhu says power reforms enter new phase.
By Clarence Fernandez

06/04/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, June 4 (Reuters) - India's reforms of its sputtering power sector
have entered a new phase, with plans afoot to free up private supply,
overhaul debt-ridden state utilities and recraft tariffs, Power Minister
Suresh Prabhu told Reuters.
With investors' fears fanned by a squabble between U.S. energy giant Enron
Corp and a local utility, Prabhu said in an interview late on Sunday that
India is standing behind international contracts.
"Sanctity of contracts has to be kept," Prabhu said.
The row began late last year when the utility in western Maharashtra state
defaulted on payments of $48 million to Dabhol Power Company, 65 percent
owned by Enron. The 2,184 MW power project is India's largest foreign
investment, at $2.9 billion.
Prabhu has vowed to take Indian reforms in a new direction.
"Absolutely," he said in reply to a question whether India's reforms have
entered a different phase. The Power Ministry will now also focus on power
distribution, he added, besides its early preoccupation with generation
needs.
"In India unfortunately for the last 10 years...reforms policy was skewed in
favour of generation," he said. "We never really realised that distribution
is the more important part of the process."
Prabhu added, "We have now decided we will make enough structural changes in
distribution so that at the end of distribution enough investment is made."
CHARTERED ACCOUNTANT
A chartered accountant, Prabhu hails from the verdant regions of India's
western coastal strand, and chaired a co-operative bank that was one of the
country's largest, in terms of deposits, before his foray into politics.
An errant lock of hair straying across his forehead, Prabhu eschews the
Indian politician's traditional uniform of starched white handspun cotton for
the shirtsleeves and trousers preferred by the professionals who have entered
government, and whom local media call "technocrats".
Prabhu said India has decided to allow private producers to sell power direct
to consumers, lifting curbs that have hobbled the country's decade-old reform
effort.
He said the question of power affordability had spurred him to ask India's
states to permit third-party sales of power, which analysts have called a
stumbling-block for foreign investment.
"They cannot force a generator to sell power only to the SEBs, and that's a
major change we are trying to make," Prabhu said, referring to the states.
SEBs or state electricity boards are owned by the state governments, and
supply power to most of India.
India estimates that 100,000 MW of fresh capacity will have to be installed
over the next 12 years to meet its power needs. Most of the $200 billion in
funds that will be required will have to come from foreign private
investment.
But India's spotty reform record over the last decade has made investors
wary. Bureaucratic procedures, legal delays and political wrangling have held
up reform moves.
RATING REVISED TO NEGATIVE
Last week global rating agency Fitch revised India's sovereign rating outlook
to negative from stable, citing fiscal concerns, the slow pace of
privatisation and deterioration in the country's foreign investment climate.
Competing agency Moody's sees signs of slippage in the reforms, and Standard
& Poor's has expressed worries over India's budget deficit.
Prabhu said he wants to overhaul state power utilities by introducing
standard accounting policies, cutting transmission and distribution losses to
15 percent, and tackling crushing debt, thus helping to lure foreign
investment into the sector.
The poor financial health of the utilities, expected to run up combined
losses of about $6 billion in the 2001/02 fiscal year, has proved a hurdle in
efforts to draw private investment.
Prabhu said an expert panel examining ways to restructure SEB finances -
looking at technical, commercial and tariff issues - is expected to report
within a few weeks.
"For the first time we will be preparing commercial data which is
internationally accepted. We will be preparing technical data which is
internationally appreciable. And thirdly, we'll be creating an information
base which will be created by experts and then made available to the states,"
he said.
The utilities' transmission and distribution losses run to up to 25 percent
of the electricity they generate, compared to a figure of about eight percent
internationally, he said.
Prabhu wants to trim this to about 15 percent within two or three years.
"In the case of India, I am willing to accept a figure of 14 percent to 15
percent, because to bring it below that will be technically feasible but
commercially unviable," he added.
Other steps to tone up power generation include attempts to link the eastern
region with the rest of India, efforts to boost plant load factors through
modernisation of equipment, and to persuade people to use energy more
efficiently.
Prabhu said he is building political will to support these moves through a
programme to tell consumers why they can no longer get power cheap, or even
free, as many did in the past. ($1=47 Indian rupees).

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

Nigerian president slams US energy firm Enron for "poor performance"

06/04/2001
BBC Monitoring
Source: The Guardian web site, Lagos, in English 4 Jun 01/BBC Monitoring/(c)
BBC

Text of article by Francis Obinor entitled: "Obasanjo chides Enron on Lagos
power project"; published by Nigerian newspaper The Guardian web site on 4
June
For failing to live up to expectation of the Nigerian government and the
people as regard its role in the Independent Power Project (IPP) initiated by
the Lagos State government two years ago, Enron, the American firm got a hard
knock from President Olusegun Obasanjo at the weekend [2-3 June].
In his conclusion, Obasanjo accused Enron, a major player in the electricity
project, of poor performance and bad faith. Ostensibly angry at the delay in
the project's full take-off and the 30 MW recently connected to the national
grid from the scheme, the president on the American Cable News Network (CNN)
declared: "Enron has played a dirty game on us. Dirty game in two ways."
Beside putting up an exorbitant price, the company according to the
president, also failed to comply with the terms of the contract. Continuing,
Obasanjo said: "The price at which they (Enron) have tried to sell power to
us has been very exorbitant. Two, what they told us they would do, they have
not done."
While refusing to disclose the firm's charges, Enron Vice-President of
Marketing John Ambler said the primary objective of the company was to get
the project on stream. "We have a project that is very close to coming on
line," he said, stressing that the company's desire is to see the project
work effectively in Nigeria, especially in Lagos. He added that Enron is
committed to the IPP and assured Lagosians that they would soon begin to feel
the impact.
The state government brought forward the June 2001 deadline it set for the
commencement of the first phase of the project when it fired the first 30 MW
of electricity to the national grid two weeks ago.
At the Government House on 23 May, Governor Bola Tinubu said his
administration and the contracting firm felt that there was no harm in
bringing the date forward and assured that another 30 MW would be added soon.
He noted that, contrary to expectations that the project would cover the
entire state at a go, it would be in phases and the focus for now would be
industrial consumption. "The concentration for now is not as private homes,
we would soon get there," Tinubu assured.
The controversial IPP programme, which the federal government had at one time
been accused of frustrating, has suffered several setbacks, including Enron's
initial plan to sell its shares to AES, another American company. Last April
was originally fixed for the project's take-off but the failure of Trevi, a
construction company in charge of transmitters, caused a shift in the date.

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

India: India and Bush Administration: Beyond assumptions

06/04/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

SOON after Mr George W. Bush Jr. won the US elections, Indian observers
proclaimed quickly that a Republican administration bodes good for India. A
Republican administration was expected to not pester India about human rights
violations in Kashmir, not force it to sign the CTBT, and get tougher with
China.
Mr George Bush's decision to "drop by" the External Affairs Minister, Mr
Jaswant Singh's meeting with the American National Security Advisor, Ms
Condoleezza Rice, seemed to somehow confirm this false sense of euphoria.
This narrow thinking fails to understand the drivers of Republican ideology.
The reality is the Republicans care about a range of issues that will force
the BJP Government to make some difficult decisions.
Take the first issue of human rights violations in Kashmir. It is true there
are many isolationists in the Republican Party who, probably, do not care
about human rights violation in Kashmir so long as it does not affect them,
and is not happening in their backyard. But there is another powerful force
in Republican politics - the religious wing. This includes powerful members
of the US Cabinet such as The Attorney-General, Mr John Ashcroft, who are
Christian fundamentalists.
Mr Bush himself claims to be a 'born again Christian'.
The religious right is rarely interested in foreign policy; it mostly
concerns itself with moral and social issues such as abortion and teenage
pregnancy. But the few times it does intervene, it is when it feels a country
is "persecuting Christians". And when it does intervene, no Republican
administration dares cross it.
For instance, China is periodically identified as a country that persecutes
Christians. Christian missionaries and ministers are routinely harassed and
imprisoned because they are trying to spread their religion. Because of this
issue, Republican members of the Christian right in Congress have all but
declared a religious war on China, routinely opposing any attempt to improve
relations - including trade relations - with that country.
India, as an emerging power, is more carefully watched, and frequently
mentioned in the American press. Stories of Christian missionaries being
burnt alive and nuns raped are attributed to "elements associated with the
Hindu fundamentalist ruling party". In its latest human rights report, the US
State Department noted these acts with concern.
The Pope's mention of these issues to the Prime Minister, Mr Atal Bihari
Vajpayee, was also noted in the American press. India is, perhaps, half a
step away from being branded as a country that "persecutes Christians".
A self-professed born-again Christian like Mr George Bush would quickly take
up the Christian right's cause, trumping all other bilateral issues. Human
rights may not matter to the isolationists, but Christian, and to a lesser
extent Jewish, religious freedom matters tremendously to a Republican
administration.
The second fallacy was that since the Republicans in Congress did not pass
the Comprehensive Test Ban Treaty, they would not force other countries to
pass the CTBT either. But why are the Republicans are opposed to the CTBT.
The opponents of the CTBT feel that it fails to safeguard American security.
They frankly care little about Indian security. They would love to be able to
restrict India's ability to test and use its weapons. To them, nuclear
weapons not in American hands translates into an unsafe world. Unless India
manages to convince the Republicans otherwise, the Republican administration
is likely to tighten the anti-proliferation screws on India.
The third fallacy relates to a tough, long-term strategic re-alignment the
Bush Administration will demand of India. Mr Bush's foreign policy-makers are
unreconstructed 'Cold Warriors'. In the post-Cold War era, they are
desperately "searching for an enemy". They appear to have settled on China as
"the next enemy". Their next step is to search for "allies"
who rarely challenge their views. Thinkers in Washington and New Delhi
believe that India and the US are "natural allies". But such a decision has
an enormous range of long-term consequences for India.
To discuss just a few: Most of the Indian military's equipment comes from
Russia and the former Soviet Union. Allying with the US will be seen by the
Russians as abandoning them, and this could have an enormous impact on the
legacy military equipment. Recent noises from the Foreign Ministry suggest
India is also eager about Mr George Bush's proposed missile defence
programme. But this technology is far from proven, and during the decade over
which it may be developed (if it gets past Congress), China will most
certainly develop many nuclear weapons. These may, primarily, be a deterrent
against the US, but it will force India into an arms buildup it can barely
afford.
The Americans are reserving their missile defence system for their "closest
allies". India today is neither fish nor fowl - not quite a threat, but not
quite an ally either. It is unlikely that India will be able to convince the
Americans to give it the defence system.
Even if the Americans agree to sell it to India, it could never afford the
sticker price. So, before it rejoices at the notion of anti-China hawks in
the White House, let India ponder over the unexamined consequences.
The final issue is one that may precipitate in the very near term.
Enron and Maharashtra find themselves in a dispute that neither wants to
lose, and that appears to be rapidly getting shriller. Mr George Bush's
background is as a Texas oilman - and he is widely accused in the US of being
beholden to the interests of the energy industry.
In fact, they were among the biggest "contributors to his campaign".
The Enron Chairman, Mr Kenneth Lay, is a friend of Mr Bush's, and was
seriously considered for a job in his Cabinet. He is so well connected that
he was recently accused of influencing who is appointed by the White House to
regulate the energy industry. In the near term, Mr Bush could quite possibly
lean heavily on New Delhi to "make sure that Enron's interests are not
neglected". If New Delhi does not respond to his satisfaction, his opinion of
India, and consequently, his administration's dealings with the country, are
likely to be coloured far more than we think.
Giridhar Srinivasan

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

Enron's Indian Creditors Seek to Salvage Dabhol Project
2001-06-04 08:41 (New York)

Enron's Indian Creditors Seek to Salvage Dabhol Project

     Mumbai, June 4 (Bloomberg) -- Indian banks that loaned money
to Dabhol Power Corp., the local unit of Enron Corp., will try and
persuade their international counterparts to keep alive the $3
billion project at a meeting of lenders in Singapore tomorrow.
    The two-day meeting will be the first between the two groups
of bankers since they met in London on April 24-25 to discuss an
escalating dispute on power prices that has pitted Enron against
the Maharashtra State Electricity Board, Dabhol's only customer.
     ``We will discuss how we can go about resolving the
problem,'' R.S. Agarwal, executive director at Industrial
Development Bank of India, or IDBI, said. IDBI is the biggest
lender to the Dabhol project.
     The outcome of the Singapore meeting, to be held in the
offices of ABN Amro Holding NV, one of the biggest international
lenders to the project, will be crucial to the banks, which have
loaned as much as $2 billion to Dabhol.
     Indian banks fear the Maharashtra State Electricity Board's
decision to stop buying power from Dabhol may strengthen
international lenders' resolve to terminate the project and invoke
government guarantees to recover their loans.
     ``Foreign lenders want to close the (Dabhol) chapter,'' said
Pradyumna Kaul, an activist with Enron Virodhi Andolan, a non-
government organization opposed to the project. ``They are eager
to call in their loans, even if it means taking a 10 to 15 percent
cut, rather than spend more on supervision and legal expenses
while watching the saga linger.''
     Local banks such as IDBI are most at risk as the Maharashtra
and federal governments have guaranteed only foreign banks' loans
of about $600 million to the venture.
     IDBI alone has exposure totaling 21.58 billion rupees ($460
million) to the project, including 15.28 billion rupees in
guarantees.
     Foreign lenders such as ABN Amro, Citibank N.A., a unit of
Citigroup Inc., Bank of America and Credit Suisse First Boston in
April approved Dabhol's decision to begin termination of its power
supply contract with the board. They are in favor of canceling the
project.
     India's government risks having to pay 170 billion rupees in
fines, resulting from guarantees it has offered on payments and
loans, if Enron pulls out of the project.

                             The Fight

     Maharashtra State Electricity Board Wednesday stopped buying
power from Dabhol as the dispute escalated. The board on May 24
told Dabhol Power Co. it was canceling its power purchase
contract, six days after Dabhol gave the board notice it was set
to pull out of the project because of the six-month dispute over
bills owed by the board.
     ``The MSEB's move has complicated the matter. We did not
expect MSEB to do this,'' Agarwal at IDBI said last week.
     Dabhol, 65 percent owned by Enron, and the board are in
dispute over 3 billion rupees in unpaid bills for December and
January. Others bills through March have been paid.
     The board has refused to pay the December and January bills,
saying they should be lowered to reflect a 4 billion rupee penalty
the board imposed on Dabhol for not supplying power at full
capacity on Jan. 28.
     The dispute Thursday prompted debt-rating company Fitch to
change its outlook on India to ``negative'' from ``stable.'' Fitch
said the climate for foreign investors has deteriorated.
     ``The dispute indicates that India's government may not be
willing to live up to its contractual obligation,'' the Economic
Times quoted Kristin Lindow, India analyst at Moody's Investors
Service, as saying. ``As a consequence, this would further deter
foreign director investment from coming into the country.''
     Moody's and Standard & Poor's have stable outlooks on the
country's sovereign rating. S&P has an investment grade rating of
``BBB'' on the country's sovereign debt. Moody's, like Fitch,
rates India's debt as junk at ``BB2.''

Enron Japan's Hirl on Power Deregulation: Commodity Comment
2001-06-04 06:29 (New York)

     Sydney, June 4 (Bloomberg) -- Joseph Hirl, chief executive of
Enron Corp.'s Japanese unit, Enron Japan Corp., comments on the
outlook for deregulation of Japan's electricity industry. He spoke
at the Coaltrans Asia conference in Sydney.

On Japanese government policy:
     ``The government does have a strong commitment to
deregulation, but there are some significant policy concerns''
including a ``greater than 80 percent reliance on imports'' of
energy.
     ``The market has been open a bit over a year, however not
much has happened. No genuine competition exists under the current
system. The companies there recognize that it will happen. It's
inevitable.
     ``The level of competition in Japan now is similar to the
U.S. in 1994-95, or Europe in 1996-97. Prices are about 400
percent higher than the U.S.
     ``To put it in perspective, I won't give the name of this
large chemical company, but it consumes about 600 megawatts. If
you compare that business with a company that's just like it in
Houston, Texas, the difference would be about $250 million a year
in the cost of electricity.
     ``For such an export-led economy, that's a difficult
situation to be in, and it's contributing to the overall malaise
in the economy.''

On the likelihood of a California-style electricity crisis in
Japan:
     ``Despite exploitation of California by the utilities, METI
(Ministry of Economy, Trade and Industry) and others recognize it
was a problem of design, not competition'' in California.


The following is a press release from Assembly Member Ellen Corbett
regarding her new windfall profits tax bill ABX 128 which will probably
be heard in committee following the Easter break.

For Immediate
Release
Contact:    Rebecca Nieto
April 4,
2001
(916) 319-2018

Corbett Introduces Windfall Profits Tax Measure

SACRAMENTO ) Responding to increasing electricity rates and the
continuing threat of rolling blackouts, Assembly Revenue and Taxation
Committee Chair Ellen Corbett (D-San Leandro) today introduced a
windfall profits tax measure intended to help restore sanity to the
pricing of electricity in California.  The bill, AB 128X, imposes an
electrical power generation windfall profits tax on the windfall profits
realized by power generators, their affiliates, and the middlemen who
participate in California's energy market. However, in recognition of
the fact that some generators are cooperatively working with the state
by holding their costs down, the measure is targeted at generators whose
gross receipts significantly exceed the cost these entities incur to
produce the energy they sell.

"We cannot continue to pay the exorbitant rates that are currently being
charged in today's marketplace.  Consumers and small businesses are
seeing their energy rates skyrocket.  The state is spending $45 million
per day to help meet demand.  We are looking toward a summer of rolling
blackouts.  Yet, we continue to allow some electricity generators and
middlemen to reap enormous profits on their sales of electricity into
the state.  This profiteering must stop, and AB 128X will help us ensure
that it does."

The windfall profits tax measure imposes an add-on tax equal to a set
percentage of the gross receipts derived from the sale of electrical
power into the state. The measure also targets middlemen who have been
able to game the electricity market by buying up supply and reselling it
at much higher rates.  AB 128X hits these middlemen by taxing the
receipts they realize from excessively high markups.

"As Chair of a working group charged with developing a windfall profits
tax, I look forward to working with my colleagues on moving this measure
through the Legislature."


The use of cell phones and pagers has increased dramatically in the past few
years.  As a result the Accounts Payable department has seen a rapid increase
in the number of invoices and vendors.  With the higher volume, we have
reviewed our processes in order to continue our rapid payment cycle.

Although we encourage vendors to address their invoices to individual
employees, they often mail invoices directly to Accounts Payable.  At times
they fail to list the individual who uses the pager or cell phone.  In these
cases we return the invoice to the vendor.  If the employee is designated, we
try to track him/her down and forward the invoice.  The high level of
employee movement among jobs and locations at Enron has made this
increasingly challenging.  Either way, we end up doing something less
productive than paying invoices.

To maintain satisfactory response to our vendors and to reduce time necessary
for research, we request that employees who have pagers, cell phones, and
other individually billed items such as licenses, subscriptions, etc., pay
for them by personal check or charge card (if applicable*payment instructions
are usually indicated on the invoice) and request reimbursement through
employee expense reports.

By submitting these charges on your expense report, you can help us reduce
the amount of time spent researching and forwarding invoices, the number of
checks generated by Treasury, the number of vendors in our database, and the
turnaround time for payment of invoices.

Incidentally, Accounts Payable is currently installing a corporate-wide
web-based expense reporting system similar to what Enron International has
used for the past year.  This will make it even easier to file your expense
report and receive quick reimbursement.

We,d like to make this effective immediately.  If you have any questions or
suggestions, please contact the Accounts Payable department.


Sara,

Do you know where we stand on an ISDA agreement with JP morgan.  We need one
for Enron North America.

---------------------- Forwarded by Madhur Dayal/HOU/ECT on 22/09/2000 16:48
---------------------------

	From:  Nicholas J Stephan                           21/09/2000 15:13

To: Madhur Dayal/HOU/ECT@ECT
cc:
Subject: ISDA Master Agreement bet. Morgan Guaranty and Enron North America

---------------------- Forwarded by Nicholas J Stephan/LON/ECT on 21/09/2000
15:15 ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Michael Stolfi" <stolfi_michael@jpmorgan.com>
  21/09/2000 21:11

To: nicholas.j.stephan@enron.com
cc: "Thomas R Bumbolow" <bumbolow_thomas@jpmorgan.com>, "Sanjeev X Puri"
<puri_sanjeev@jpmorgan.com>

Subject: ISDA Master Agreement bet. Morgan Guaranty and Enron North America

Nicholas:

Henry Steuart asked me to forward to your attention the revised draft ISDA
Schedule which I previously sent to Ms. Flynn. As I mentioned in my last note
to
Ms. Flynn, the attached draft incorporates all of Morgan's comments and should
be self-explanatory. The motivation behind many of our comments was a
conscious
effort to keep the credit terms nearly identical to those already agreed to
with
other Enron entities.

Please review the attached and feel free to call, fax or e-mail me with any
questions or comments.

Sincerely yours,
Mike Stolfi
212-648-8231
212-648-5125 fax

(See attached file: Enron North America - MAS#3.doc)(See attached file: Enron
North America - MAS#3(blined).doc)

 - Enron North America - MAS#3.doc
 - Enron North America - MAS#3(blined).doc


As long as Dave and/or you are signing off on the EOL packages, I don't have
any problem with this.  As to non-EOL deals, we may also want to eliminate
the requirement that all Demarc deals need such a high approval level.  I
don't think there is anything uniquely risky about Demarc as long as we have
our capacity posting squared away.  DF

Danny McCarty
01/24/2001 12:26 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Dave Neubauer/ET&S/Enron@ENRON

Subject: Request 39833, EOL Deal

Drew,
        Placement of a demarc delivery package on EOL necessarily means it
was approved.  An after the fact note from Linda will suffice.

Dan
---------------------- Forwarded by Danny McCarty/ET&S/Enron on 01/24/2001
12:25 PM ---------------------------

Linda Trevino
01/24/2001 08:48 AM
To: Drew Fossum/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Dave
Neubauer/ET&S/Enron@ENRON, Danny McCarty/ET&S/Enron@Enron
cc: Rick Dietz/ET&S/Enron@ENRON, Craig Buehler/ET&S/Enron@ENRON, Laura
Lantefield/ET&S/Enron@ENRON

Subject: Request 39833, EOL Deal

Tenaska Marketing Ventures accepted a package on EOL yesterday that delivers
to demarc.  Although EOL deals are pre-approved the CMS system is coded to
route demarc deals to the president level.  In order to expedite the
activation of this request and since it was a pre-approved EOL deal, I
approved the route for each of you in CMS per a request from marketing.

Please let me know if this process will not be agreeable on future EOL deals
that include demarc.

Thanks

Linda


Can you provide the West Desk with an update on the Socal Storage projects-Socal Montebello Salvage Project ;Alsio Canyon and Lo goleta Cushion Gas Projects  Would like to  have something by this afternoon if possible.


I have 2 in Sec 106 Row 25 @ face value


Hi again,

Delta Power will be making revisions to the LLC for tax purposes.  I've given
them your email address to include you in the distribution.

Kay


I don't have access to this shared drive.  Jan...do you?

-----Original Message-----
From: Hayslett, Rod
Sent: Saturday, November 24, 2001 11:42 AM
To: Donoho, Lindy; Lokay, Michelle
Cc: Kleb, Steve; Geaccone, Tracy
Subject: FW: Tw
Importance: High

Can either of you help me here?

-----Original Message-----
From: Hayslett, Rod
Sent: Sat 11/24/2001 11:33 AM
To: Geaccone, Tracy
Cc: Taylor, Sarah; Desai, Jayshree
Subject: Tw

There are files that back up the revenue projections that Steve Kleb gave me hard copies of for 2001 and 2002.  Can I get electronic copies of these, they have volumes and margins and appear to back up the revenue projections.

2002 File looks like s\marketing\twfinmkt_anly\Tw\twfin\2001\misc\[plan_forecast_design.xls]\summary.

2001 file looks like s\marketing\twfinmkt_anly\tw\twfin\2001\forecast-CE\[ce 3-2001.xls]model _source_data.

If the same exists for 2000 can we get it as well.  I would like as soon as possible and you can email to the cc addresses as well.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Folks:

With respect to the Northwestern transaction, I'd like to understand what it
would take in the letter agreement to allow us to recognize the entire $8MM
upon execution of the letter agreement. In my conversation today with Kay, we
talked about making sure we could at least recognize the $8MM in equal
instalments between the execution of the letter agreement and September 1,
2001 (the outside date for closing). If at all possible, I'd like to take
this one step further so that the entire amount could be recognized in Q2.
Let's plan to talk about this on Monday. Any thoughts on this prior to Monday
would be appreciated.

Regards,

Ben


Dear Jeff,

Congratulations on your promotion!  I'm sure you already know how well
everyone in the ranks is receiving the news.  You and Enron are truly amazing.

I really want to thank you, again, for helping me get involved.  It continues
to be an exhilarating experience, and it has meant a lot to me personally for
a number of reasons.  If I can ever help you in any way, just say the word!

Warmest personal regards,
Vince
 -kai-


Dad,

I booked a tee time for Saturday at 1:44pm.

Chris


I can make time.  Let's try to let Leslie vacation.  Also, I'm having a memo prepared that should be ready first thing Monday AM on the CA Commission's policies regarding utility use of hedging instruments.  Just let me know when you'd like to talk.

Best,
Jeff


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

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=MHEARD>
Date: Tuesday, October 30, 2001 5:59:24 GMT
Subject:


Where were you guys?  I really need help.  In fact I need it so badly that I
waited at Kenneally's until 2:00 am.

From: Eric Gillaspie on 10/18/99 11:22 AM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: RE: NOTE 10/18/99 12:17:33

---------------------- Forwarded by Eric Gillaspie/HOU/ECT on 10/18/99 11:22
AM ---------------------------

Ryan.F.Ruppert@EXXON.sprint.com on 10/18/99 12:23:07 PM
To: Eric Gillaspie/HOU/ECT@ECT
cc: Gerald Nemec/HOU/ECT@ECT
Subject: RE: NOTE 10/18/99 12:17:33

         Date: October 18, 1999
         From: Ruppert, Ryan F.                            R9RUPPE  - AMERICAS
           To: EXT-EGILLAS(A)ECT.ENRON.COM,                EGILLASE - FPEXMAIL
           cc: EXT-GNEMEC(A)ECT.ENRON.COM,                 GNEMECEC - FPEXMAIL
      Subject: RE: NOTE 10/18/99 12:17:33
------------------------------------------------------------------------------
I agree, I propose and intervention tonight afterwork, say, 6 o'clock, at
Kenneally's?

RYAN RUPPERT
Geologist
Europe/CIS Ventures
Exxon Exploration Company
713.935.6171

-----Original Message-----
From: EXT-EGILLAS(A)ECT.ENRON.COM,
Sent: Monday, October 18, 1999 12:18 PM
To: Ruppert, Ryan F.
Subject: NOTE 10/18/99 12:17:33

I think we need to do an intervention w/ Gerald; he went to Sam's Boat Last
night w/ his brother.  Well we need to at least get our SCUBA stuff out of his
car before he sells it for cocktail money.

OUT!
eric


Hey girls...I hate this, but I may be out Thursday.  Please still let me know where you guys are going to be and if anything changes I'll meet you there.  Otherwise, have a great time and to both Lisa and Jen, I need to see you guys and hear all about the honeymoon and the proposal           ( both are very good things and I love good things ).

Sue

	Enron Capital & Trade Resources Corp.  From:  Sarah Berry <sarahberry819@yahoo.com>                           04/24/2001 11:11 AM

To:	Ashleastu@aol.com, jkbowles@hotmail.com, Lisa.A.Meador@chase.com, Susan.M.Scott@enron.com
cc:	sarahberry819@yahoo.com, Ashleastu@aol.com, kmullen@velaw.com, sarah_c_buck@hotmail.com, smebs99@hotmail.com
Subject:	Re: tasters!

I think Aries is the one- event though it is $$$.
Since Ashlea went to Fox Diner last week and only said
good as a comment, then I say we go for it and try
Aries.  7pm on Thursday it is if everyone else agrees.
 I'll send the e-vite after I get a few approvals.

Hasta!
Sarah
--- Ashleastu@aol.com wrote:
> What's the plan for taster's? i am up for Aries,  if
> everyone else is? What
> time are we looking at - 7 or 7:30?

__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - buy the things you want at great prices
http://auctions.yahoo.com/


Vince,

Could you please send me the title and a 50-word abstract of your
presentation by the end of today?  I'd like to forward them to the
organizer as soon as possible so that we could make it into the printed
conference program.  Thanks.

Shijie

On Thu, 28 Sep 2000 Vince.J.Kaminski@enron.com wrote:

>
> Shijie,
>
> I would be interested in attending and giving a presentation.
>
> This would be also a good opportunity for both of us to meet
> and discuss the plans for closer cooperation.
>
> Vince
>
>
> Shijie Deng <deng@isye.gatech.edu> on 09/25/2000 01:20:59 AM
>
> To:   Vince Kaminski <Vince.J.Kaminski@enron.com>
> cc:   Shijie Deng <deng@isye.gatech.edu>
> Subject:  INFORMS National conference at San Antonio
>
>
>
> Hi Vince,
>
> I'll be organizing a session at the INFORMS national meeting in San
> Antonio (Nov 5-8, 2000, http://www.informs.org/Conf/SanAntonio2000) on
> modeling price volatility in electricity markets or financial engineering
> approaches.  I'm just wondering if you or some member of your research
> group would be interested in giving a presentation there.  Please let me
> know.  Thanks.
>
> Best wishes,
>
> Shijie
>
> Shi-Jie Deng
> Assistant Professor
> School of ISyE
> Georgia Institute of Technology
>
> Office Phone: (404) 894-6519
> E-mail:       deng@isye.gatech.edu
> Home page:    http://www.isye.gatech.edu/~deng
>
>
>
>
>
>
>
>


Hey everybody.  Enjoy!

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Date: 23 Apr 2001 13:39:53 -0600
Message-ID: <-1224089305cmaley@integerdenver.com>
From: "Chris Maley" <cmaley@integerdenver.com>
Sender: "Chris Maley" <cmaley@integerdenver.com>
To: "ann fisher" <Annfishernyc@aol.com>,  "bill maley"
<bill.maley@solutionspoint.com>,  "brian jacobson" <btjacob@qwest.com>,
"chuck stiebling" <chuck@stieblingali.com>, "sasha ali" <sashaali@att.net>,
"merlin" <merlinm@uswest.net>, "kate maley" <KateMaley@aol.com>
Subject: Fwd: something groovy to do...
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>
>
> > - The Dalai Lama said read it to see if it works for you.
> >
> > PERSONALITY TEST.
> >
> > Very interesting. Just 4 questions and the answers will surprise you....
> >
> > Do not cheat by looking up the answers. The mind is like a parachute
>works
> >
> > best when it is opened.
> >
> > This is fun to do, but you have to follow the instructions very closely.
> > Do
> > not cheat.
> >
> >
> >
> >
> >
> > MAKE A WISH BEFORE BEGINNING THE TEST!!
> >
> >
> >
> > A Warning! Answer the questions as you go along..
> >
> >
> >
> > There are only four questions and if you see them all before finishing
>you
> >
> > will not have honest results.
> >
> > Go down slowly and do each exercise as you scroll down. Don't look
>ahead.
> > Get pencil and paper to write your answers as you go along. You will
>need
> > it
> > at the end. This is an honest questionnaire, which will tell you a lot
> > about
> > your true self..
> >
> >
> >
> >
> >
> >
> >
> > Put the following 5 animals in the order of your preference.
> >
> > a. Cow
> >
> > b. Tiger
> >
> > c. Sheep
> >
> > d. Horse
> >
> > e. Pig
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Write one word that describes each one of the following:
> >
> > Dog
> >
> > Cat
> >
> > Rat
> >
> > Coffee
> >
> > Sea
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Think of someone (who also knows you and is important to you) that you
>can
> >
> > relate them to the following colors.
> >
> > (Please do not repeat your answer twice. Name just one person for each
> > color.)
> >
> > Yellow
> >
> > Orange
> >
> > Red
> >
> > White
> >
> > Green
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Finally, write down your favorite number and your favorite day of the
> > week.
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Finished? Please be sure that your answers are what you REALLY WANT.
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > Look at the interpretations below: (but first before continuing, repeat
> > your
> > wish.)
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > This will define your priorities in your life.
> >
> > Cow signifies CAREER
> >
> > Tiger Signifies PRIDE
> >
> > Sheep Signifies LOVE
> >
> > Horse Signifies FAMILY
> >
> > Pig Signifies MONEY
> >
> >
> >
> > Your description of dog implies YOUR OWN PERSONALITY.
> >
> > Your description of cat implies the personality of your partner.
> >
> > Your description of rat implies the personality of your enemies.
> >
> > Your description of coffee is how you interpret SEX.
> >
> > Your description of the Sea implies your own life.
> >
> >
> >
> >
> >
> > Yellow: Someone you will never forget
> >
> > Orange: Someone you consider your true friend.
> >
> > Red: Someone that you really love
> >
> > White: Your twin soul
> >
> > Green: Someone that you will remember for the rest of your life.
> >
> >
> >
> >
> >
> >
> >
> > You have to send this message to as many persons as your favorite number
> > and your wish will come true on the day that you put. This is what the
> > Dalai
> > Lama has said about the Millennium -- just take a few seconds to read it
> > and
> > think.
> >
> > Do not put away this message, the mantra will come out from your hands
>in
> > the next 96 hours.
> >
> > You will have a very pleasant surprise. This is true, even if you are
>not
> > superstitious.
> >
> >
> >
> > Please do this. It is fascinating.
> >
> > SEND THIS E-MAIL MANTRA TO AT LEAST FIVE PERSONS AND YOUR LIFE WILL
> > IMPROVE
> >
> > 0-4 persons: Your life will improve slightly.
> >
> > 5-9 persons: Your life will improve to your liking.
> >
> > 9-14 persons: You will have at least 5 surprises in the next three weeks
> >
> > 15  or more persons: Your life will improve drastically and all that you
> > have always dreamed will take shape.
> >
> > If at any time you do not receive the smile you were expecting, be
> > generous
> > and give that person a smile.
> >
> > Because nobody has as much  necessity of a smile than the person that
>does
> >
> > not know how to smile at others.
> >

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


Ok, you told me nothing, so I am clueless as to what is creating the
distress.  Maybe we can chat later.

We will not be in Austin in the next few months.  We are going to San Antonio
the first weekend in March, as well as the first week in April.  The first
trip is for a wedding between two friends of Trey from Rice MBA who are
marrying each other.  The other is for the Enron law conference, which is
Wed.-Friday.  We are not taking Cameron on either of those trips (party
time!!), so we will be rushing back to Houston right afterwards.

I am working with Butch Hayes at F&J.  I haven't been too involved in the
matter because it is not an Enron subsidiary, but from what I can tell, I
like him.  Any additional insight, if necessary, would be great.

Too bad you weren't in Houston a couple of weeks ago.  But, it probably would
have been a sad time for all of you, and it sounds like you don't really need
that right now.  If you visit us, we promise to be cheerful and frivolous if
you need it -- not that acting that way is too much of a chore for me.  Plus,
Cameron acts like a 2-year-old, which is a delight.  He started at a new
school a few weeks ago (The Post Oak School -- a Montessori school about a
block from our house), and he is really coming into his own.  It is amazing
how much my world has both grown and shrunk since he was born.  Little things
like seeing a squirrel in the back yard have become major events (don't even
get me started on helicopters).  On the other hand, I feel this enormous
responsibility and desire to make sure that all is right with the world.
Quite an awesome sense of obligation and discovery combined.

Enough waxing philosophical.  I've got to get out of here at some point, so
I'd better get back to work.

Later.  M

mstewart@bmoh.com on 02/15/2000 03:01:03 PM
To: Michelle.Cash@enron.com
cc:
Subject: Re: Status

Hi Michelle!
Thanks for your message and update.

Yes, January was a tough month, and I guess I got pretty distracted by it all.
Nothing has been resolved but I've gotten over the initial shock and sadness
for my brothers. We were pretty worried about Joe for a while there because
Myra is (was?) the love of his life and he is so vulnerable. I can't remember
how much I told you over the phone (?)

Good to hear from you! We haven't been to Houston in a long time and are due
for a visit. We almost came the weekend of Feb 5-6 because a group was getting
together to go to Jay's gravesite in honor of his Feb 10th birthday. (But work
kept me here that weekend.) Hopefully sometime soon I can get over there and
see you & Trey & Cameron. Any plans to come this way? I'd love to see you.

For V-Day, we went out to eat at the Hula Hut. I picked up my brother Ed from
the airport (he had been in Santa Fe with Joe for a long weekend - we are
taking turns) and Ed came with us for our nice "romantic" dinner. Later Rog
and I went for coffee and dessert as a special treat. We still have a great
time together just talking about stuff and catching up on the day's
happenings.

Hope all is going well with the investigation - it sounded like you were in
good hands with the Fulbright lawyer. (Who is it? - Brian Grieg? Butch Hayes?)
If I can be of any help in any way, please let me know - I would love to work
with you! But, truly, I would  like to just see you again - to catch up and
have some
laughs! mms

>>> "Michelle.Cash@enron.com" 02/15/00 02:33PM >>>

Maria,

I got your voice mail a couple of weeks ago.  It sounded like you were a bit
on
the stressed out side.  I hope things have improved, and that you had a nice,
romantic Valentine's Day yesterday.  Trey and I went to the opera on Sat.
night
for our V-Day event.  We saw the Elixer of Love, which is a very light, cute,
happy-ending opera (no screeching).

I think we got the referrals taken care of on the Austin investigator issue.
Thanks for your input.

Take care, and I'll catch you later.

Michelle


Dear Mr. Rapp:

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--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
This message is being sent to you in compliance with the proposed Federal legislation for commercial email (S.1618 - SECTION 301). Pursuant to Section 301, Paragraph (a)(2)(C) of S.1618, further transmissions to you by the sender of this e-mail may be stopped at no cost to you by submitting a request to be removed. INSTRUCTIONS - REPLY with the word 'REMOVE' in the subject line.


At 6/16/2000, Tom Beach wrote:
>On behalf of Watson and Vernon, I strongly object to the removal of the data
>on the takeaway capacity to other markets besides the SoCalGas system, as
>Norman apparently proposes in his draft exhibit.  Without the data on
>takeaway capacity to other markets, the exhibit suggests that all of the
>upstream interstate and PG&E capacity is designed to serve just the SoCalGas
>market.

The question is not what is designed to "serve" the SoCalGas market, but
what is the upstream capacity flowing to SoCal's interconnection points
that could theoretically serve SoCalGas if there was no limitation on
SoCal's takeaway capacity.  Based on this, Norman's exhibit seems OK unless
there is some physical system constraint (besides SoCal's takeaway) that
would limit potential inflow into the SoCalGas system.

The problem with SoCal's last exhibit is that there is still no
clarification of whether the upstream gas could flow into ANY ONE of the
take away pipelines.  Maybe this could be clarified somehow (in a footnote)?

Marcel


I would be interested depneding on day and time.  Whats the dealio?


Rats!

	Robert Bruce@ENRON
	Sent by: Robert Bruce@ENRON
	09/21/2000 10:10 AM

		 To: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 cc: Taffy Milligan/HOU/ECT@ECT
		 Subject:

The ISDA seminar scheduled for next week has been cancelled, so I will be in
the office 9/28 and 9/29.  No word yet as to if or when the seminar will be
rescheduled.

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


ok how about now

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 2:10 PM
To:	Maggi, Mike
Subject:	RE:

i can't go.  i'll walk out with you though.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, January 04, 2002 2:10 PM
To:	Nelson, Michelle
Subject:	RE:

ok, ready?

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 2:09 PM
To:	Maggi, Mike
Subject:	RE:

maybe

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, January 04, 2002 2:10 PM
To:	Nelson, Michelle
Subject:	RE:

are you almost done

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 2:09 PM
To:	Maggi, Mike
Subject:	RE:

i promise she does.  she said that she had to have a report to louise by the 7th

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, January 04, 2002 2:09 PM
To:	Nelson, Michelle
Subject:	RE:

no she doesnt, ready?

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 2:06 PM
To:	Maggi, Mike
Subject:	RE:

i can't.  i am not finished with this and she needs it by the weekend.  i won't get home until late.  what's so urgent?  cna't it wait another week?  i am so funny

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, January 04, 2002 2:06 PM
To:	Nelson, Michelle
Subject:	RE:

nope, lets go now

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 2:02 PM
To:	Maggi, Mike
Subject:	RE:

i don't think that i can go.  maybe next week.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, January 04, 2002 2:02 PM
To:	Nelson, Michelle
Subject:	RE:

i know, lets go

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, January 04, 2002 1:57 PM
To:	Maggi, Mike
Subject:

you lied.  fred is still here.


---------------------- Forwarded by Mary Hain/HOU/ECT on 02/08/2001 11:02 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Ronald Carroll" <rcarroll@bracepatt.com>
02/08/2001 10:54 AM

To: <acomnes@enron.com>, <Christi.L.Nicolay@enron.com>, <dfulton@enron.com>,
<jhartso@enron.com>, <mary.hain@enron.com>, <smara@enron.com>,
<snovose@enron.com>
cc:
Subject: Fwd: DJ FERC Affirms It Lacks Jurisdiction In Pwr Facility Sales

Content-Transfer-Encoding: quoted-printable
Date: Thu, 08 Feb 2001 09:47:47 -0600
From: "Tracey Bradley" <tbradley@bracepatt.com>
To: "G. Alan Rafte" <arafte@bracepatt.com>, "Andrea Settanni"
<asettanni@bracepatt.com>, "Charles Shoneman" <cshoneman@bracepatt.com>,
"David Parr" <dparr@bracepatt.com>, "Jeffrey Watkiss"
<dwatkiss@bracepatt.com>, "Gene Godley" <ggodley@bracepatt.com>, "Kimberly
Curry" <kcurry@bracepatt.com>, "Nancy Wodka" <nwodka@bracepatt.com>, "Paul
Fox" <pfox@bracepatt.com>, "Ronald Carroll" <rcarroll@bracepatt.com>
Subject: DJ FERC Affirms It Lacks Jurisdiction In Pwr Facility Sales
Mime-Version: 1.0
Content-Type: text/plain; charset=ISO-8859-1
Content-Disposition: inline

FYI

DJ FERC Affirms It Lacks Jurisdiction In Pwr Facility Sales
Copyright , 2001 Dow Jones & Company, Inc.

WASHINGTON (Dow Jones)--The U.S. Federal Energy Regulatory Commission
Wednesday reaffirmed its policy finding that it lacks jurisdiction over
generation facility transfers.

     The Federal Power Act requires the commission to approve jurisdictional
asset transfers greater than $50,000 in value. But FERC doesn't view
generation assets as jurisdictional.

     FERC often rules on generation asset transfers, but only in the context
of associated transmission assets and power sales connected with the
generation assets. FERC regulates electricity sales, but not the plants that
produce the power.

     With divestiture of generation assets becoming increasingly common in
the $215 billion U.S. electricity sector, this policy has increasingly been
questioned by consumer interests and others.

     Most recently, the American Public Power Association and Citizen Power
Inc., a utility watchdog group, petitioned the commission to reconsider its
view that generation asset transfers, absent associated transmission
facilities and power sales agreements, don't fall under FERC jurisdiction.

     At issue were generation asset sales by Duquesne Light Co. (DQZ), and
FirstEnergy Corp.'s (FE) transfer of power plant ownership from its utility
operating units to FirstEnergy's competitive services unit.

     The commission was unpersuaded by arguments of APPA and Citizens Power
that state regulation is inadequate to protect the public interest and
promote competition in the restructuring electric utility industry.

     "There is no necessary nexus between the interstate transmission or sale
of electric energy, on the one hand, (the triggering events giving rise to
our jurisdiction) and the disposition of a generation facility by itself,"
FERC said.

     "Not only does the statutory text support our interpretation, but there
is no precedent, legislative history, or case law which would support a
contrary conclusion," FERC said, denying the petition.

     FERC cited section 203(a) of the Federal Power Act as conferring
authority to regulate the disposition of "facilities subject to the
jurisdiction of the commission." FERC has never asserted jurisdiction over
generation assets, and has traditionally left that to state utility
regulators.

     By Bryan Lee, Dow Jones Newswires, 202-862-6647,
mailto:bryan.lee@dowjones.com
     (END) Dow Jones Newswires 07-02-01


Hi Kim,

Another message for you.
Cheers Bye, Kim

 -----Original Message-----
From: 	Gay, Randall L.
Sent:	20 November 2001 23:00
To:	Ward, Kim; Grigsby, Mike; Tycholiz, Barry
Subject:	citizens

Kim:  attached are my more detailed remarks on citizens and the cuts.  please let me know if this will be ok.  thanks.


RE:  lawsuits filed & Wall Street Journal articles


----- Forwarded by David M Gagliardi/TTG/HouInd on 08/28/01 09:24 AM -----

                    "Gagliardi,
                    Michael"             To:     "'dgagliardi@reliantenergy.com'" <dgagliardi@reliantenergy.com>,
                    <mgagliardi@u        "'david.ricks@spotplus.com'" <david.ricks@spotplus.com>,
                    nocal.com>           "'tony.a.rogers@fritolay.com'" <tony.a.rogers@fritolay.com>
                                         cc:
                    08/28/01             Subject:     FW: True Orange E-Mail/Fax #87
                    08:54 AM

> -----Original Message-----
> From:         TruOrange@aol.com [SMTP:TruOrange@aol.com]
> Sent:         Monday, August 27, 2001 8:17 PM
> To:           TruOrange@aol.com
> Subject:           True Orange E-Mail/Fax #87
>
> True Orange E-Mail/Fax Service
> Volume 9, E-Mail/Fax #87, Monday, August 27, 2001
> Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
> Phone
> 512-795-8536
>
> Brown Names Starters with Few Surprises
>
> Texas head coach Mike Brown named the starters Monday for Saturday
night's
>
> season-opening football game with New Mexico State, and there was only
one
>
> major surprise.
> That was at tight end where Bo Scaife and Brock Edwards were listed as
> co-starters. "I don't know who will run out there first," Brown said,
"but
>
> they'll both see plenty of action."
> He also said Tillman Holloway and Derrick Dockery are co-starters at left

> guard, but that was no surprise because they have battled back and forth
> throughout the pre-season practices.
> Junior Victor Ike, as expected, is the starting tailback, with super
> freshman
> Cedric Benson and big sophomore Ivan Williams listed as co-second
teamers.
>
> Brown also said all three tailbacks will play a lot.
> Senior Maurice Gordon, as expected, was tabbed to start at left defensive

> tackle. "We had to figure a way to get him on the field," Brown said.
> "That's
> why we moved him (from defensive end). He probably runs 4.6 or better and
> we
> think he's really going to be good for us."
> Brown also said Nathan Vasher and Ahmad Brooks will be the starting
> safeties
> with Dakarai Pearson backing up at both spots.
> The Longhorns are 42-point favorites over NM State for their 6 p.m. game,
> but
> Brown said the contest "is a great challenge for us. They should have
> beaten
> Louisville last week and Louisville was a 9-or-10-win team last year."
> Louisville went 9-3 last year and NM State had a lead at the half before
> two
> fumbles deep in Louisville territory were returned for touchdowns.
> Brown had a good time discussing the Longhorns at his Monday press
> conference. Talking about all the hype surrounding junior QB Chris Simms,
> he
> said, "Some think Chris Simms will win the Heisman and some think he
> shouldn't start."
> When someone mentioned that post-game comments in Oklahoma after the
> Sooners'
> opening win over North Carolina seemed to center more on Texas than on
the
>
> Sooners, he said, "A lot of the opposing teams talk more about us than
> they
> talk about themselves, and there is no question some of them hate us more

> than they like themselves."
> * * * *
> FOOTBALL NOTES: The Longhorns have the best opening game record in the
Big
>
> 12. In 108 years of playing college football, Texas is 88-17-3 in opening

> games. That's an .829 winning percantage. If the Horns hadn't gone 1-7 in

> openers between 1986 and 1993, that great percentage would be almost off
> the
> charts. . . the Horns' No. 5 national ranking in the AP poll is their
> highest
> pre-season rating since 1983. . . QB Chris Simms completed 28 of 42
passes
>
> (66.7%) for 328 yards and four touchdowns in the Longhorns' three
> scrimmages.
> He did not allow an interception in the scrimmages. . . True freshman LB
> Derrick Johnson led all defenders in the scrimmages with 20 tackles. . .
> Starting LB Lee Jackson probably will miss the opener with a turf toe and

> will be replaced by Tyrone Jones. He is the only starter who will be out
> unless someone else gets banged up this week.
> * * * *
> RECRUITING NOTES: The Longhorns apparently have targeted three wide
> receivers
> for two remaining slots and will take the first pair to commit. The three
> are
> Marquis Johnson, a national top 100 player from Champaign, Illinois, and
> two
> Texans - Biren Ealy of Cypress Falls and Anthony Wright of Klein Forest.
> Johnson lists the Horns No. 1 and might commit when he visits. He says he

> wants to visit UT in September. Wright also lists Texas as his top team,
> while Ealy is more wide open. . . CB Ricky Wilson of Port Arthur Lincoln
> is
> getting a lot of national attention because he is an outstanding cover
> corner
> with great speed and leaping ability - and good grades. That last factor
> sets
> him apart from several of the other top corner prospects. He lists
Florida
>
> State and Texas as his top two teams. . . If you are a real recruiting
fan
>
> who keeps a list of future prospects, pencil in Clay Broyles, 6-4, 235,
of
>
> Hallsville as a junior DE/TE who will be a big item in next year's
> recruiting
> wars. His coach says he is a top prospect on either side of the ball.
> * * * *
> My next e-mail/fax will be whenever events warrant.
> * * * *
> The True Orange E-Mail/Fax Service includes  at  least  99 fax/e-mails  a

> year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
> 26
> newsletters and is published weekly during football season and twice
> monthly
> during most of the other months. It costs $45. Save by subscribing to
both
>
> for $130 (or $110 if you take the faxes via E-Mail  or $99 if you take
> both
> services via E-Mail). Send check  to address at the top of page. I also
> update my 900 number - 1-900-288-8839 - daily with recruiting news. My
> E-Mail address is: truorange@aol.com.


Brad,
 Please have them add a provision providing that the agreement shall be
effective for a period of one year from the date of execution by Enron North
America Corp.  Otherwise the agreement is acceptable as written.

	Bradley Diebner
	12/18/2000 01:33 PM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc:
		 Subject: Confidentiality agreement

x36646
---------------------- Forwarded by Bradley Diebner/HOU/ECT on 12/18/2000
01:32 PM ---------------------------

Bradley Diebner
11/30/2000 02:13 PM
To: Dan J Hyvl/HOU/ECT@ECT
cc:
Subject: Confidentiality agreement

Dan,

My customer wants to use their confidentiality agreement.  Can you review?
---------------------- Forwarded by Bradley Diebner/HOU/ECT on 11/30/2000
02:11 PM ---------------------------

Donna Cannon <DCannon@huntoil.com> on 11/28/2000 04:56:14 PM
To: "'bradley.diebner@enron.com'" <bradley.diebner@enron.com>
cc:
Subject: Confidentiality agreement

Attached is a draft of our agreement.

Donna Cannon
Treasury Manager
Hunt Oil Company
214-978-8781
dcannon@huntoil.com
 <<ConfAg110300.doc>>

 - ConfAg110300.doc


Hi Folks,

Passing along an email from my friend Michael Germain. :   "It is being
reported in Dallas by 1310 The Ticket Radio, that Chris Warren
has been released by the Cowboys today. A press conference is scheduled for
this afternoon with Dave Campo. Just an FYI."

Thanks Michael and also thanks to our buddy Daniel Dunsworth for the info.
I doubt you had Warren starting on your playoff bound FF team but this says
a lot about their faith in Emmitt Smith.  Michael Wiley likely backs up
Smith now but for them to cut Warren loose with Smith just a few games
removed from a concussion is a pretty strong statement.  Smith proved once
again last week he's a gamer I'd think removing the threat of Warren
stealing a few carries has to slightly increase his value.

Have a nice evening.

Joe

To unsubscribe from this group, send an email to:
cheatsheets-unsubscribe@egroups.com


It was good to see you in Norman earlier this week.  As always, I appreciated
your attendance at the presentation and at Coach's afterwards.  I am sure
that it is rewarding for you to see former students such as Jody and Nate
participating on the other side of the recruiting table.  You have done a
great job in changing and promoting the program.

I am pushing Lexi to resolve the question around interview dates for summer
interns ASAP.  I have also left Mike McConnell a message to make him aware of
the issue.  I should be able to get back with you next week, hopefully with a
change in our strategy!

If you do become aware of five OU /Texas tickets, please let me know.  We
will certainly purchase them, I just made the assumption that all tickets may
already be sold.

On another note, David has worn his OU shirt to work and has gotten lots of
compliments.  He has a number of people that have asked him about school
shirts, caps, etc.  Do you have a list of the schools that you can get
merchandise for and the types of merchandise that you can get?  Let me know
-- we can probably place a few orders through you!


Genaro,
BP is correct.  We needed the Btu conversion.  I have fixed the deal.

Please let me know if you have any other questions.

Thanks,
Theresa
(303) 575-6485

 -----Original Message-----
From: 	Mendoza, Genaro
Sent:	Thursday, December 13, 2001 8:51 AM
To:	Staab, Theresa
Subject:	Nov 01 - Anschutz Deal w BP

Theresa,

The pricing for deal # 1020259 (buy from BP at Anschutz Plant) does not agree with the price invoiced by BP for Nov. 2001.  BP invoiced a rate of $2.5401. Sitara currently has IF NWPL Rockies + $.02 less $.09 (MCF conversion). Can you please review and advise?

Thanks,
Genaro


Start Date: 3/7/01; HourAhead hour: 22;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030722.txt
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the
FINAL Individual Interchange Schedule.  Unable to assign deal number.


In case you haven't done it already, please cross out the note on your
calendar that today is the day the Conoco trial starts!  What better day to
announce a celebration of the settlement, since without it many of us would
be sitting in a courtroom in Midland wondering whether the trial would last 3
weeks or 30.   With that image firmly in mind, please plan on joining us for
a celebratory dinner on Thursday, August 17th at 6:00 at Brennan's.  Again,
thanks for all of your  efforts on this case, and I hope to see you on the
17th!  DF


Errol, thanks for writing.  I discussed this matter with George Huan this
morning, in person, and he tells me that he rebooked the deals originally
booked to El Paso Merchant Energy Gas - L.P. to El Paso Merchant Energy L.P.
correctly in his spreadsheet pretty late last night after you spoke with him
and so it did not get into our system last night.  He has assured me,
however, that everything is in order for tonight's run and that the problem
should be fixed Monday.  I will advise you if the situation is unresolved
Monday.  Thanks for your follow up.  Sue.

 -----Original Message-----
From:  McLaughlin, Errol
Sent: Thursday, April 19, 2001 9:05 PM
To: Vasan, Sue
Subject: El Paso Status in the Exotic Files

Sue,

I am sending you this e-mail because I received your voice message well after
you left it today.  I reviewed the text files that are sent out by the book
administrators on my desks and none of them contain any deals booked to the
counterparty El Paso Gas Marketing.  All of the deals from people on my desk
are booked to the valid El Paso counterparty per our conversations.

I will be out of the office tomorrow, but I will be checking my voicemail
frequently and communicating with my group.  If the same problem arises
tomorrow, please call me at 713-305-1502 so that we can discuss, because
there has to be some other explanation for the erroneous counterparty showing
up on your report.

Thank you,

Errol McLaughlin, X5-8274


The schedule is attached.  I will remind you a few days in advance to let you
know which games you have tickets to.

Laura


Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
----- Forwarded by Carol St Clair/HOU/ECT on 05/15/2000 01:42 PM -----

	Carol St Clair
	05/15/2000 01:42 PM

		 To:
		 cc: Mark Tawney/HOU/ECT@ECT
		 Subject: Domain Transfer Agreement

Michael:
Our guys are meeting with Risk Management Solutions tomorrow morning.  Scott
Brown of V&E and I will be talking to them about the Agreement this
afternoon.  Have you heard anything back from John Sherriff?
Carol


Attached is the Enron Americas GasTrading violation memos for  Maturity Gap
Risk and VaR for June 14, 2001.  The Office of the Chairman for Enron
Americas is responsible for printing out a hard copy of this memo, signing it
and returning the hard copy to Chris Abel at 3155a, who will forward it to
RAC to obtain their signature.

Thank You


I will be out of the office the morning/afternoon of 03/28/01.  I should be
back around 4:30.  I can be reached on my cell phone (503)-887-3449.

Bill