As you will note from the attached e-mail, the Quinque class action has been
remanded to state district court in Hugoton Kansas. Robin Gibbs had always
predicted that this was the likely result. We will now proceed with the
battle over class certification in Kansas, which,unlike Texas, is not
necessarily appealable. I will keep you posted..
----- Forwarded by Richard B Sanders/HOU/ECT on 01/12/2001 12:25 PM -----

	"Tetrault, Charles D." <ctetrault@velaw.com>
	01/12/2001 11:58 AM

		 To: "Richard B. Sanders (E-mail)" <Richard.B.Sanders@enron.com>, "Andrew M.
Edison (E-mail)" <andrew.edison@enron.com>, "Staci Holtzman (E-mail)"
<sholtzm@enron.com>, "Charles E. Cheek (E-mail)" <ccheek@enron.com>, "Janet
Place (E-mail)" <jplace@enron.com>, "Britt Davis (E-mail)"
<bdavis@enron.com>, "Michael P. Moran (E-mail)" <Michael_Moran@enron.com>,
"Rebecca Zikes (E-mail)" <bzikes@enron.com>, "Drew Fossum (E-mail)"
<Drew_Fossum@enron.com>
		 cc: "Barrett H. Reasoner (E-mail)" <breasoner@Gibbs-Bruns.com>, "Andrew L.
Pickens (E-mail)" <Apickens@Gibbs-Bruns.com>
		 Subject: Remand

Andy is calling now, but for those of you he does reach immediately, here is
a short report based on a conversation that he had with Mike Beatty.

Judge Downes granted the motion to remand.  A short written order will be
out later today or Monday.

He apparently read from a draft of the order, and Mike Beatty says that it
was written in high level generalities about presumptions in favor of
remand, burden to establish removal jurisdiction, etc. and did not address
the details of our federal jurisdiction (e.g., OCSLA) arguments.  More later
today.

Charles D. Tetrault
Vinson & Elkins L.L.P.
1455 Pennsylvania Ave., N.W.
Washington, D.C. 20004-1008
ctetrault@velaw.com
202.639.6551 [voice]
202.639.6604 [fax]

          ++++++CONFIDENTIALITY NOTICE+++++
The information in this email may be confidential and/or privileged.  This
email is intended to be reviewed by only the individual or organization
named above.  If you are not the intended recipient or an authorized
representative of the intended recipient, you are hereby notified that any
review, dissemination or copying of this email and its attachments, if any,
or the information contained herein is prohibited.  If you have received
this email in error, please immediately notify the sender by return email
and delete this email from your system.  Thank You


See below.

 -----Original Message-----
From: 	Panus, Stephanie
Sent:	Tuesday, October 16, 2001 9:01 AM
To:	Mendoza, Nidia
Subject:	Quadra Energy
Importance:	High

Nidia,
Please see the below.  Can you send me a format of the letter of credit that you sent him?

Stephanie
 -----Original Message-----
From: 	Gary Ross <GRoss@Quadraenergy.com>@ENRON
Sent:	Monday, October 15, 2001 3:59 PM
To:	Panus, Stephanie
Cc:	Patrick J. Loftus; Scott Simpson
Subject:	RE: ISDA Master Agreement

Ms. Panus,

A number of months ago you had sent me a draft Master Agreement and Credit
Support Annex.  I had then spoke with Nidia Mendoza, in the Enron Credit
department, regarding the changes we would like to see in the agreement.
However, I am having problems getting her to respond to my phone messages or
e-mails.

I am hoping I could detail the changes we have and  you could then let me
know if they are acceptable.

They are as follows:

Ms. Mendoza faxed me an alternate Letter of Credit format, which our Bank
finds more acceptable than SCHEDULE 1 to EXHIBIT A to paragraph 13 of Annex
A.

We would like to have this format replace the current SCHEDULE 1 or have it
added as SCHEDULE 2. This will guard against the format being disallowed at
a latter date.

Also, we would like to have the dollar amounts in point (b) (iv) (D) of
PARAGRAPH 13 to the ISDA CREDIT SUPPORT ANNEX reduced from $250,000 to
$10,000.  A $250,000 threshold is a very large number especially when you
consider that we would not be paid any interest, while Enron held any excess
funds. Also, the $10,000 amount is typical of the amount we use with other
trading houses of Enron's size.

Please let me know your thoughts on the above items. If you have any
questions please contact me, at (403) 215-7451.

Thank you

Gary Ross

-----Original Message-----
From: Panus, Stephanie [mailto:Stephanie.Panus@ENRON.com]
Sent: Wednesday, July 25, 2001 3:54 PM
To: gross@quadraenergy.com
Cc: Reves, Brant
Subject: ISDA Master Agreement

Mr. Ross,

Attached for your review is a draft of the ISDA Master Agreement between
Enron North America Corp. and Quadra Energy Trading Ltd.  Please note
that the actual Master Agreement and Credit Support Annex are preprinted
forms from ISDA and cannot be sent electronically.  Therefore, I am also
sending you the entire package via overnight delivery.

If you have any questions, please call me at the below number or Brent
Hendry, Senior Counsel, at 713-853-7124.  We look forward to hearing
your comments.

 <<163ctr(quadra).doc>>

Stephanie Panus
Enron North America Corp.
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  stephanie.panus@enron.com


All,

I must leave today --July 2nd @ 2:30pm.

I will be back in the morning -July 3rd.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3803A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
Email: Susan.Bailey@enron.com


We have another new addition to the Portland West Desk:

Beginning today, Mohamed Elafandi (Mo) has joined the Real-Time Trading group.

Prior to Enron, Mo worked in Charlotte, North Carolina as an Associate in
Corporate Finance at First Union Securities - Capital Markets. He graduated
from the United States Naval Academy in Annapolis, Maryland with a Bachelor's
Degree in Marine Engineering, and received his MBA from the Fuqua School of
Business at Duke University.

Please welcome Mo to our Portland office!


Hi Sally -

Taking care of Philippe's emails while he's out.  Are there one or two floors
that are occupied fully by your groups?  Please tell me the floors (probably
two) where you would like the meetings and I will call Patti to coordinate
your availability to attend.  I'll then send an email to your people
notifying them of such.

Thanks,

Peggy

 -----Original Message-----
From:  Beck, Sally
Sent: Monday, April 09, 2001 11:54 AM
To: Philippe A Bibi/HOU/ECT@ENRON; Piper, Greg
Subject: Suggestions for Floor Meeting Locations

The floors chosen for these meetings appear to be geared to the IT teams.
Between my operations teams dedicated to EA, EGM and EIM, I have roughly 500
employees in the Enron building.  Do you want all of them to choose one of
the floors noted in your e-mail message, or would it be better to schedule
one or two floor meetings in locations that more easily incorporate this
segment of Net Works?  I have noted below the approximate number of employees
per floor (including only those floors with a significant number of
operations employees):

  29th Floor (trading) 67 employees  EGM risk, vol. mgmt., confirms,
settlements and EIM risk

  30th Floor (trading) 35 employees  EGM risk, confirms, settlements (various
products)

  31st Floor (trading) 52  employees  Power risk, confirms, vol. mgnt.,
settlements and DPR           and MPR teams

  32nd Floor (trading) 117 employees  Gas risk, logistics (all regions),
operational analysis

  37th Floor   148 employees  Gas vol. mgmt., settlements, and global
services
Also, given the fact that operations is a relative "newcomer" to Enron
Networks and yet represents a large number of employees in the group, I would
be happy to work with you on remarks for all of the floor meetings to make it
easier for you to be fully inclusive in these sessions.   --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 04/09/2001 10:30 AM
---------------------------
   Office of the Chairman - Enron Net Works LLC

From: Office of the Chairman - Enron Net Works LLC@ENRON on 04/09/2001 10:13
AM
Sent by: Enron Announcements@ENRON
To: ENW-Employees_Houston
cc:
Subject: Net Works Floor Meetings - DATES AND LOCATIONS HAVE CHANGED PLEASE
READ

We will be holding floor meetings on the following dates.  Please join us for
a general overview and Q&A session on one of the following floors:

Tuesday, 4/17/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2711

Wednesday, 4/25/01 - 2:00 - 3:00 p.m. Location:  In front of EB2265

Thursday, 4/26/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2556

Philippe & Greg

Please disregard the email sent on 4/6/01.  We apologize for any
inconvenience.


Ken called yesterday and we bought 5000/d april from him at 4.87.  He said it
could be either Milagro or El Paso SJ.  Please call him and confirm the
receipt point.

Thanks,
Mike


Joe,

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

Many Thanks,

Liz Taylor


For each of the last 15 years the Enron Kids Committee has chosen an under-privileged HISD elementary school and offered to "sponsor" every child in that school.  What we mean by "sponsor" is that we outfit the child from head to toe plus give each of them a toy and book.  The presents are then handed out to the children at their school Holiday Party in December.  For most of these kids, it is their only Christmas present.

I am once again coordinating the volunteer / adoption efforts for ETS.  Some ETS departments and employees have already sponsored a child-- thanks for your support.  But thus far, we have only adopted 216 of 468 children.  We need more help!!!!

If you would like to participate, I will coordinate collections and adoptions.  Simply reply back to this email with the amount you would like to contribute.  It costs about $100 to "sponsor" each child.  Last year we were able to adopt 18 children.

All the funds collected will be matched by the Enron Foundation.  The matching funds will be used to buy books and computers for the school.   I will also need volunteers for shopping.  If you would like to shop for the kids we sponsor, please let me know.

Thanks for your support!!
Kevin Hyatt x35559 & The Enron Kids Committee


We have received the executed EEI Master Power Purchase and Sale Agreement
dated 2/1/2001 from the referenced CP.  Copies will be distributed to Legal
and Credit.


Start Date: 3/5/01; HourAhead hour: 24;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030524.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 24 / Preferred:   1.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: EES
  MKT_TYPE: 2
  TRANS_DATE: 3/5/01
  UNIT_ID: BADLND_7_PL1X2

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 24 / Preferred:  50.00 / Final:   0.02)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/5/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_NANCY
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 24 / Preferred:  50.00 / Final:   0.03)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/5/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: EPMI_CISO_NANCY
  ENGY_TYPE: WHEEL

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 24 / Preferred:  65.11 / Final:  64.11)
  TRANS_TYPE: FINAL
  LOAD_ID: SCE1
  MKT_TYPE: 2
  TRANS_DATE: 3/5/01
  SC_ID: EPMI


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June stock indexes close lower today. Prices are basically trading
sideways. The Nasdaq June futures are still within striking distance
of the April high of 1995. Sideways trading the past week has negated
a fledgling four-week-old uptrend on the daily bar chart. Bulls still
have some heavy lifting to do and their next upside objective is
resistance at the key 2,000 area. First support is seen at the 1,732
area. June S&P 500 futures closed lower. Prices have also leveled off
the past week, after rallying solidly off the early-April low.
Technically, bulls still need to push prices above the 1285
resistance area. My bias is still that any recovery in the stock
market and the stock indexes won't be dramatic, but a slower grind
higher, with fits and starts. First resistance is seen at 1285.00.
First support is seen at 1206.00.

LIVESTOCK: June live cattle closed $1.17 lower at 70.00 today. Ouch!
Prices gapped sharply lower on the daily bar chart and hit a fresh
eight-month low today. Reports that cash cattle traded $1.00 lower
today at some locations sent the futures market tumbling. Today's
plummet leaves the June futures well overextended, technically, on a
short-term basis. A corrective bounce is in order. The bears are in
full control of the market. Prices are trading way below an
accelerating two-month-old downtrend line on the daily bar chart.
Next support, basis June, is seen at $69.00. First resistance now
comes in at the $70.50 level.

August feeder cattle were pressured by the fat cattle futures and
closed off 75 cents today at $87.50. Prices closed near the session
low today and are now down in the lower portion of the recent trading
range. If recent history continues to play out, the market will
bounce up from the losses of the past two days. But if prices break
down below the bottom of the recent trading range, which is right at
today's low of $87.40, then the door is opened to a lower trend down
to the January low just above the $86.00 level. Next resistance is
seen at $87.80. First support is seen at $87.25.

June lean hogs closed $0.58 lower today, at $66.92. Prices are still
showing consolidation at lower levels, after the sell off last week.
Firmer cash hog trade today could not stave off the technical
weakness this market is experiencing. The bears have the strong
momentum on their side at present. Next support lies at $66.25. First
resistance is located at the 68.15 level.

GRAINS: July corn futures closed unchanged at $2.05 today. It was a
quiet "inside day" on the daily bar chart today, ahead of Thursday's
USDA supply and demand report and the weekly export sales figures.
Prices are under pressure this week after weekly crop progress
reports out Monday showed very good planting progress in the U.S.
There is just not much bullish fundamental news in the corn market
right now. It would not surprise me to see the commodity funds make
another significant downside assault on the corn and bean markets in
the near term. Next support is now seen at $2.00. Next resistance is
seen at the $2.07 1/2.

July soybeans closed 1 1/2 cents lower at $4.39 today. Prices are
consolidating the recent gains, but bulls by no means have any
significant momentum. Still, it does look like a minor bull flag
could be forming on the daily bar chart. Fundamentally, there is not
much in the way of good news for bulls right now. Thursday's
morning's USDA supply and demand report is expected to paint a
picture that is not bullish for beans. I would not be surprised to
see the commodity funds make another downside push in beans in the
near term. This market is still in technical trouble and it's going
to take a significant weather scare this spring or summer to force
prices solidly higher. First resistance is seen at the $4.45 area and
then $4.50. First support is seen at $4.35 and then at $4.30. Several
weeks ago, I purchased a July soybean call option with a strike price
of $4.80, for a price of 8 1/4 cents ($412.50). That option last
traded at 4 1/2 cents.

July soybean meal closed up $0.60 at $153.60 today. Prices this week
are showing consolidation after they pushed to a fresh eight-week
high last Friday. Recent price action is encouraging to the bulls and
is a sign the lows are in place in the meal market. Let's see what
tomorrow morning's export sales report shows. Next resistance comes
in at the $158.50 area. First support is seen at $154.00.

July bean oil closed 26 points lower at 14.83 cents today. After
prices saw a decent corrective bounce Tuesday, they sold right back
off today. This increase in volatility is consistent with a bottom
process in a market. Oil is technically much weaker than beans or
meal right now. But I would be surprised if there is much downside
left in oil. Next resistance comes in at 15.00 cents. Next support is
seen at the contract low of 14.76 cents.

July Chicago wheat closed 1 cent lower at $2.65 3/4 today. Prices
today touched the contract low of $2.65 that was scored yesterday.
"Rain in the Plains Makes Grain." That's a bearish refrain. With the
wheat crop behind schedule anyway, the recent rains could allow the
crop to make some good improvement. Bears are in full command.
Serious technical damage has occurred the past few sessions. First
support lies at the contract low of $2.65. Next resistance is seen at
$2.70. This market is short-term oversold and I suspect we'll see a
corrective bounce soon.

K.C. July HRW wheat closed off 1 cent at $3.22 1/4 today. Again,
rainfall in the Plains states has weighed on the market for several
sessions. A V-Top reversal is playing out on the daily bar chart.
Serious chart damage has been inflicted the past few sessions. For
bulls to get back in the ballgame, they need to push prices north and
fill the downside gap on the daily bar chart (created last week) by
pushing prices to the $3.34 area. That's a tall order right now. Next
resistance is seen at the $3.28 area. Next support is seen at $3.20.
This market is also short-term overdone on the downside.

SOFTS: July N.Y. sugar closed 10 points lower at 9.00 cents today. We
still could see a bull flag starting to form in sugar, on the daily
bar chart. This many times occurs as prices consolidate steep gains.
A three-month high was scored in July sugar late last week. The bulls
have good momentum and a steep and accelerating five-week-old uptrend
line is still in place on the daily bar chart. Next resistance now
comes in at 9.25 cents. First support is now seen at 8.80 cents.

July N.Y. coffee closed 100 points (1 cent) lower at 67.90 cents
today. Prices closed near the session low. Still, prices today
matched the two-month high set Tuesday, before backing off a bit. The
bulls continue to gain momentum. This recent move is the most
significant showing by the bulls since mid-January. The fact that
prices have not sold off sharply the past few sessions is encouraging
for the bulls, too--given recent price history. Still, the bears
could be setting a trap, like they did in early January. If bulls can
push prices above 70 cents and then see follow-through strength,
bears will begin to think this uptrend is sustainable. First
resistance comes in at 70 cents. First support is seen 65.00 cents.

July N.Y. cocoa closed $23 lower today, at $1,021. Prices pushed to a
fresh six-week high today, before selling off by the close and
closing near the session low. Tuesday's strong gap-higher trade on
the daily bar chart did put the bulls back on a level playing field
with the bears. Prices pushed above and negated a 2.5-month-old
downtrend line on the daily bar chart. Next resistance comes in at
$1,050--today's high. First support is now seen at $1,000.

July cotton closed 1 point lower at 45.43 cents today. Traders took a
"rest day" today after Tuesday's solid losses, and ahead of
Thursday's export sales and the monthly USDA supply and demand
report. Cotton is in a strong bear market, and a new contract low was
scored again today, at 45.36 cents. Right now, any rebounds are
likely to be just selling opportunities for the bears. But, my bias
is still that we are not that far from a bottoming process. Next
support lies at 45.00 cents. First resistance is seen around 48.00
cents. Would-be bottom-pickers should beware. Bulls need to watch for
some "basing" action, which may be beginning.

July orange juice futures closed 175 points higher today, at 78.70
cents. Prices closed near the session high today and filled an
important downside gap area on the daily bar chart. That's an
important first step for the bulls in turning this market around.
Next resistance is seen at 79.00 cents. Next support comes in at
77.15 cents--today's low.

July lumber futures closed $6.90 lower at $301.50 today. Today's sell
off is not unhealthy for the bulls. It was overdue. Prices just
Monday hit yet a new for-the-move high, at $313.20. Today's price
action is just some healthy consolidation in a bull market. Expect
more volatility, however, as is typical for this market. The next
upside objective for the bulls is the $315.00 area. First support is
seen at the $300.00 area. This market is still a bit short-term
overbought, technically, and I would not be surprised to more of a
downside correction in the near term.

METALS: June COMEX gold closed up $4.90 today, at $270.40. Prices
scored a big "outside day" up on the daily bar chart today, and in
the process pushed prices to a two-month high. Heavy fund short
covering was featured in the trading pit. This market is in a nice
uptrend since scoring its early-April low. Today's type of gain is
just what bulls needed to gain confidence to trek farther north on
the chart. Next resistance is located at $273. First support is seen
at $265.00--today's low.

July silver closed up $0.08 today, at $4.415 an ounce. Prices popped
on short covering and the rally in gold. Silver prices are still not
that far above the contract low. Prices are chopping at lower levels,
and this suggests a "basing" action that many markets need to change
the trend from down, to sideways, to eventually up. Next support is
seen at $4.33--today's low. First resistance is seen at $4.45. Bears
still have the advantage.

July N.Y. copper closed 50 points lower today, at 76.35 cents. More
stock market weakness helped drive this market lower again today.
Prices may still be attempting to build a base and recover from the
early-April low. My bias is still that the downside is limited for
copper. But the stock market and the U.S. economy will have to be
healthy before the bulls can really get something going in copper.
Next resistance is seen at 77.00 cents. Next support is seen at 75.00
cents.

ENERGIES: July crude closed $0.53 higher at $28.90 today. Prices
scored a mildly bullish "outside day" up on the daily bar chart, but
bulls and bears are still at a stand-off. Expect more choppy trading.
Next support is seen at 28.00. Next resistance lies at $29.50.

July heating oil closed 149 points higher today, at .7700. Prices
closed near the session high and bulls still have the slight edge.
But look for more choppy trading in the near future. Next support is
seen at 73.00 cents. Next resistance is seen at 77.50 cents and then
79.00 cents.

July unleaded gasoline closed 172 points higher at 1.0070 today.
Prices closed near the session high and scored a bullish "outside
day" up on the daily bar chart. Prices scored a new contract high
just Monday, but backed off sharply before the close and then saw
follow-through selling Tuesday. That confirmed a key reversal. But
given the recent volatility in unleaded, I am not placing a lot of
emphasis on that key reversal. Bulls are still in command as peak
driving season nears. Top-pickers beware! Next resistance is seen at
$1.03. First support is seen at $.9780--today's low.

July natural gas closed 8.3 cents lower at $4.27 today. Prices hit a
fresh five-and-one-half-month today. Next support is seen at $4.20
and first resistance is now at $4.50. This market is still short-term
oversold, technically.

FINANCIALS, CURRENCIES: The June Euro currency closed 10 points
higher at .8842 today. Bears have the edge as bulls have lost all the
momentum they had gained in mid-April. Prices hit a fresh three-week
low today. My bias is still that there is not much downside left in
the Euro. Look for more choppy action in the near term. Bulls will
again gain good momentum if they can push prices above the .9075
area. Next support is now seen at .8800. Next resistance is seen at
.9000.

The June Japanese yen closed 55 points lower at .8218 today. Bears
are still in control. Bulls are hoping for some "basing" activity at
lower levels, and that may be occurring, although it's too early to
tell. Next support now lies at the .8100 level. First resistance is
seen at the .8326 level.

The June Swiss franc closed unchanged today, at .5745. Bears are in
command. Still, my bias is that prices won't deteriorate much more.
Next support is seen at the .5700 level. First resistance comes in at
the .5830 level.

The June Australian dollar futures closed 87 points higher at .5234
today. Prices pushed to a fresh two-month high late last week and are
consolidating a bit this week. The bulls still have the advantage as
a five-week-old uptrend line is in place on the daily bar chart. My
bias is that the lows are in place. First resistance is now seen at
.5250. First support is now seen at .5100.

The June Canadian dollar closed 30 points higher today, at .6498.
Prices rebounded today after Monday's key reversal down on the daily
bar chart. Bulls lost some the past two sessions, but will gain it
right back if prices can push back north soon. Monday's key reversal
does not indicate prices are headed back toward the lows seen a few
weeks ago. What it does suggest is a downside correction to the
recent gains may occur over the near term. This currency had been
near recent historic lows and I do not think there is much more
downside. Next resistance is seen at the .6548 level. First support
is seen at the .6450 level.

The June British pound closed 48 points lower at 1.4200. Trading
continues choppy at lower levels. This currency was not that far
above recent historic lows and I do not think there is much more
downside in the sterling. One could argue that price action the past
few weeks has been a "basing" before prices eventually turn north. A
move above the 1.4500 level would be considered a bullish "upside
breakout" from the recent congestion area. A move below 1.4100 would
be considered a bearish downside breakout. Next support is now seen
at the 1.4160 level--today's low. Next resistance comes in at the
1.4300 level.

The June U.S. dollar index closed 2 points lower at 116.22 today.
Bulls have the momentum in the near term. The recent double-top
reversal on the daily bar chart still favors the bears longer-term.
Next resistance lies at the 116.50 level. First support is seen at
the 114.50 area. My bias is still that a near-term top is in place in
the dollar index.

June U.S. T-bonds closed 18/32 higher today at 102 5/32. Bulls need
to show some more resolve, after pushing prices well off the lows
scored in late April. A steep six-week-old downtrend line was
penetrated on the upside last week and negated. Also, a minor
double-bottom reversal has occurred on the daily bar chart. My bias
is that odds favor a strong upside move, as opposed to a strong
downside move. Next resistance is seen at 103 9/32. First support is
seen at 101 11/32 level--today's low.

The June U.S. T-note closed up 13.0 (32nds) today at 105.06.0. Bears
still have the slight edge. First support is seen at the 104.16.0
level. First resistance is seen at 105.20.0.

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FOREX

US FX Review: Yen falls on concerns tied to new govt
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Asia FX Review: Yen weakens on fall in Japan stocks
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Europe FX Review: Euro/dlr undermined by German output slump
   http://news.ino.com/summary/?id=25277

CREDIT

US Credit Review: Solid gain as hedges lifted on WorldCom debt
   http://news.ino.com/summary/?id=25273
Europe Credit Review: European bond prices rise, waiting for ECB
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Japan Credit Review: June up on firm cash, fair 5-year tender
   http://news.ino.com/summary/?id=25281

COMMODITIES

US Futures Summary: Refinery snags boost oil, gasoline; gold up
   http://news.ino.com/summary/?id=25280

EXCHANGES

Listing Delay For May 2003 Cotton Contracts
   http://news.ino.com/press/?release=23565
Cynthia Hallenbeck Named CFO Of Refco Global Futures
   http://news.ino.com/press/?release=23564
Pacific Exchange To Trade Options on Reliant Resources, Inc.
   http://news.ino.com/press/?release=23563
Deutsche Borse Reports 9.5% Rise In April ETF Volume
   http://news.ino.com/press/?release=23562

____________________________________________________________________________

E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
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WINNERS

HUM1   New York Harbor Unleaded Gasoline Jun 20    1.0767    0.0326  +3.12
CLM1   Light Sweet Crude Oil Jun 2001              28.23      0.77  +2.81
HOQ1   Heating Oil Aug 2001                       0.7745    0.0182  +2.39
OJN1   Orange Juice Froz. Conc. #1 Jul 2001        78.70      1.80  +2.34
YAM1   Australian Dollar/Japanese Yen Jun 2001     63.64      1.37  +2.20
SIU1   Silver Sep 2001                             4.451     0.092  +2.10
BDK1   Oriented Strand Board May 2001             211.00      4.00  +1.90
XKZ1   Gold Dec 2001                               273.4       5.1  +1.90
KIM1   Kilo Gold Jun 2001                            270         5  +1.89
AGM1   Silver 1,000 oz. Jun 2001                   4.410     0.080  +1.85

LOSERS

CCK2   Cocoa May 2002                               1048       -42  -3.89
NDU1   NASDAQ 100 Index Sep 2001                 1959.00    -70.00  -3.57
LBK1   Random Length Lumber May 2001              306.20     -8.50  -2.70
NGQ2   Henry Hub Natural Gas Aug 2002              4.242    -0.110  -2.53
NKU1   Nikkei 225 Stock Avg Sep 2001               14105      -340  -2.36
XHQ1   Lean Hogs Aug 2001                          61.75     -1.45  -2.31
PBN1   Frozen Pork Bellies Jul 2001               79.000    -1.650  -2.05
LHQ1   Lean Hogs Aug 2001                         61.700    -1.150  -1.83
LCM1   Live Cattle Jun 2001                       70.000    -1.275  -1.79
BON1   Soybean Oil Jul 2001                        14.83     -0.26  -1.72
____________________________________________________________________________

E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

HLIT   HARMONIC INC                                 8.14      2.18  +37.01
XMSR   XM SATELLITE RADIO'A'                       11.40      3.07  +36.85
GGNS   GENUS INC                                    5.49      1.07  +24.43
GENI   GENESISINTERMEDIA.COM INC                   14.86      2.77  +23.08
SPIR   SPIRE CORP                                   7.97      1.45  +22.66
IEE    INTEGRATED ELECTRICAL SVCS                   7.21      1.16  +19.53
TRPH   TRIPATH TECHNOLOGY                           8.71      1.38  +19.38
CMLS   CUMULUS MEDIA 'A'                           12.65      1.95  +18.48
LMIA   LMI AEROSPACE                                5.05      0.78  +17.53
MM     MUTUAL RISK MANAGEMENT                       9.70      1.35  +16.67

LOSERS

WITS   WITNESS SYSTEMS                              9.10     -2.90  -24.17
KT     KATY INDUS                                   5.70     -1.65  -22.45
ISRG   INTUITIVE SURGICAL                           5.15     -1.20  -19.35
MAXC   MAXCO INC                                    7.50     -1.43  -19.07
MOGN   MGI PHARMA, INC                              8.57     -1.48  -14.79
GTSI   GTSI CORP                                    6.20     -1.01  -14.31
CMGI   CMGI INC                                     5.13     -0.82  -13.78
EDEL   EDELBROCK CORP                               9.00     -1.49  -13.26
ACME   ACME COMMUNICATIONS                          7.55     -1.12  -12.83
CNXT   CONEXANT SYSTEMS                             9.87     -1.37  -12.23

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Doug,

We were trying to get everybody together for today
but with no luck.  Wednesday next week is the first feasible
date.

Sorry for that.

Vince

Doug Arnell@ENRON_DEVELOPMENT
08/29/2000 01:59 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Vince J Kaminski@ECT
Subject: Re: LNG "Book" Meeting

I'm assuming that this meeting is tomorrow (wednesday the 30th) not next
wednesday.

Shirley Crenshaw@ECT
08/29/2000 09:06 AM
To: Sally Beck/HOU/ECT@ECT, Eric Groves/HOU/ECT@ECT, doug.arnell@enron.com,
Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
cc:

Subject: LNG "Book" Meeting

 Hello everyone:

The next LNG "Book" meeting has been scheduled for Wednesday,
September 6 at 2:00 pm in EB19C2.

Thanks!

Shirley Crenshaw
3-5290


Derryl:

Thanks for pulling me in to meet John Schroeder, Account Manager (whom I had
met earlier with Graham Gebbie) and Marco Arcelli, Sales Manager, Pipelines.
Look forward to keeping in touch on this if any buy side opportunities are
evenutally pursued.

Thanks again.

Sarah-Joy


This is what I see so far for Ogy for May.  We need to buy the imbalance back
that was created on the 3rd but we can chat later.


Lara,

We are finalizing a Broker Client deal with the referenced companies.  We are giving them access to European Gas, European Power, European Weather, European Bandwidth, European Coal and Brent Crude.  Is it appropriate to use the following as the exhibit for this transaction?

UK and European Gas
UK and European Power
European Coal
European Weather
European Bandwidth
Brent Crude

Bob Shults
EnronOnline LLC
Houston, Texas 77002-7361
713 853-0397
713 825-6372 cell
713 646-2126
bob.shults@enron.com


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/24/2000
04:59 PM ---------------------------

Jlpnymex@aol.com on 02/22/2000 03:53:46 PM
To: ecoel@mail.arco.com, jhewitt@ix.netcom.com, vkamins@enron.com,
mmcomisky@equiva.com, pmelia@mail.arco.com, bcsalmonsen@equiva.com,
motowns@unocal.com, dph@swbell.net
cc:
Subject: March 2, NYMEX night at the rodeo

We are so glad you will be able to join us for dinner and the HLSR on March
2, 2000, to see Reba McEntire perform.

Here is the itinerary for the evening:

Depart NYMEX office at 5:30 p.m.by limousine for Pappasito's restaurant
(parking is available across the street on Smith street)

Arrive Pappasito's restaurant, located at 610 and Kirby near the Astrodome,
by
6:00 p.m.  If it is more convenient for you, feel free to meet us at
Pappasito's by
6:00 p.m.  You can leave your car there, and ride with us in the limo to the
Dome, or follow us to the Dome in your car.

Depart Pappasito's by 7:15 p.m. for the Rodeo.

Depart Rodeo at the end of the show, by limo to cars at Pappasito's, and/or
to the NYMEX office.

Please contact me by email or telephone (713-658-9296) as to whether you will
meet us at our office or Pappasito's.  Also please contact me if you have any
other questions or logistical requirements.

I look forward to meeting each of you.

Jana Laird Phillips
Marketing Manager


FYI
---------------------- Forwarded by Rod Hayslett/FGT/Enron on 11/22/2000
11:47 AM ---------------------------

Tod A Lindholm
11/22/2000 11:12 AM
To: Rod Hayslett/FGT/Enron@ENRON
cc:

Subject: Re: Capital Charge and Calculating Return on Invested Capital

Since ETS has third party debt on it's books, the debt and cost of carry will
be excluded from the calculation so as not to double count.

Rick wants it to actualy be booked.  I lean towards just calculating it and
not actually make entries (I know that entries will cause all sorts of
additional issues).   Nothing has been formalized yet.

Rod Hayslett

11/22/2000 11:01 AM
To: Tod A Lindholm/NA/Enron@Enron
cc:

Subject: Re: Capital Charge and Calculating Return on Invested Capital

What do we do with debt on the books of the entities?  Ignore it?   And my
understanding is that this will not be used for actual booking of anything
in the books,

Tod A Lindholm
11/22/2000 10:31 AM
To: Wes Colwell/HOU/ECT@ECT, Fernley Dyson/LON/ECT@ECT, Kevin
Hughes/HOU/EES@EES, Rod Hayslett/FGT/Enron@ENRON, John Echols/Enron
Communications@Enron Communications, Mark E Lindsey/GPGFIN/Enron@ENRON, Sally
Beck/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Kent Castleman/NA/Enron@Enron,
Jeffrey E Sommers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carol
Howes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Howard Selzer/Corp/Enron@ENRON,
Keith Marlow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dave
Gunther/NA/Enron@Enron, Kenny Bickett/HOU/AZURIX@AZURIX, MARY
TURINA/ENRON@enronxgate, Barry Schnapper/Corp/Enron@Enron, Paul
Chivers/LON/ECT@ECT, Rob G Gay/NA/Enron@Enron, Jeremy Thirsk/SIN/ECT@ECT,
Ananda Mukerji/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen H
Friedlander/EWC/Enron@Enron, Joseph Deffner/HOU/ECT@ECT, Larry
Derrett/HOU/EES@EES, Kevin Howard/Enron Communications@Enron Communications,
Michael Anderson/HOU/AZURIX@AZURIX, Bill W Brown/HOU/ECT@ECT
cc: Richard Causey/Corp/Enron@ENRON, Ben F Glisan/HOU/ECT@ECT, Mary
Perkins/HOU/ECT@ECT, Tim DeSpain/HOU/ECT@ECT, Jordan Mintz/HOU/ECT@ECT, Bob
Butts/GPGFIN/Enron@ENRON, Wanda Curry/HOU/EES@EES, Mary Lynne
Ruffer/HOU/ECT@ECT, Maroun J Abboudy/LON/ECT@ECT, Mike Deville/HOU/ECT@ECT

Subject: Capital Charge and Calculating Return on Invested Capital

Over the last few months, we have been working on a new methodology to
measure and report business unit's retrurns on invested capital.   Several
different variations were considered, and I am glad to report that Skilling,
Causey and Fastow have approved the process outlined here.

Simply stated (with an example shown below):  Return on equity will be
calculated based on a pre-determined debt/equity structure.  Business unit
capital will include both on-balance sheet and off-balance sheet uses of
capital and business unit's will be charged for the cost of their debt at
Enron's cost of funds.  Business unit's should focus on improving their
return on equity over time.

______________________________________________________________________________
______________________________________

______________________________________________________________________________
_____________________________________

This metric will not replace other targets (i.e., IBIT and Funds Flow).

We are currently working to overlay this approach to the submitted 2001
Plans.  If you have questions, please contact myself or Mike Deville.


Thank you, right you do not have one as Southern did not sign or agree I have
learned.  I have their consent  and will have them sign and return a copy for
your records.

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


Do we want to tighten these up somewhat?

 -----Original Message-----
From: 	Sutton, Lisa
Sent:	Monday, October 29, 2001 2:00 PM
To:	Hayslett, Rod
Cc:	Saunders, James; Brassfield, Morris; Arnold, Jeff; Howard, Sheila
Subject:	FW: iBuyit Approvals

Rod,

HR has added 4 new job groups, none which are currently being used by ETS. We are proposing the following ibuyit spend and approve limits for future use of the new job groups in ETS and will need your approval and Stan's before submitting the information to the ISC.

Job Group	Description	Spend Limit	Approval Limit
  23		HR Asso.	$1,000		$0		Consistent with all non-managerial levels
  24		HR Analyst	$1,000		$0		Consistent with all non-managerial levels
  26		Exec VP	$2,500		Unlimited	Consistent with Director and above
  27		BU Head	$2,500		Unlimited	Consistent with Director and above

Please email approval for you and Stan.
 -----Original Message-----
From: 	Arnold, Jeff
Sent:	Monday, October 29, 2001 10:43 AM
To:	Sutton, Lisa
Cc:	Brassfield, Morris
Subject:	iBuyit Approvals

Lisa,

Attached is the Spend/Approvals amounts for the new HR job groups that have recently been created and the most recent HR structure file that I received from Lessa Hutcherson in HR.  I inserted in red the Spend/Approval amounts that we discussed for the new groups.  Currently we have no employees in any of these new groups.

Let me know if you have any questions.

Thanks

Jeff

 << File: iBuyIt Report Request 3.xls >>  << File: ETS Spend_Approval Limits by Job Group 10_29_01.xls >>


Hollis,

In your absence, I have decided to appoint Jeff Duff to meet in San Antonio
with AEP and CPS to go over curtailment calculation.  He will review and
familiarize himself with the calculation by talking to Mark Fisher.

Kurt,

Please get in touch with Jeff and have a preliminary meeting with him and
Mark Walker, so that there are no surprises at the meeting with CPS.

Best regards,

Jeff

Kurt Anderson
06/14/2002 03:33 PM
To: Hollis Kimbrough/EWC/Enron@ENRON
cc: Jeff Maurer/EWC/Enron@ENRON, Mark Fisher/EWC/Enron@Enron, Mark V
Walker/EWC/Enron@ENRON, Jeff Duff/EWC/Enron@ENRON, Olivia
Martinez/EWC/Enron@Enron

Subject: CPS curtailment meeting

Hollis, we need to determine who from GEWE will attend this meeting. Please
discuss this issue with Jeff Maurer on Monday and make the necessary
arrangements. On Monday AM I will be on my way to Trent Mesa to meet with AEP
regarding the foundation issue. I will call you in route to discuss further.

Thank you

---------------------- Forwarded by Kurt Anderson/EWC/Enron on 06/14/2002
03:30 PM ---------------------------

wcmarshall@aep.com on 06/14/2002 01:42:19 PM
To: tnmccastlain@aep.com, rkblackshear@aep.com, Kurt.Anderson@enron.com,
rlsimon@windots.net
cc: bmgivens@aep.com, awsmith1@aep.com, jfgodfrey@aep.com, rboteler@aep.com

Subject: CPS curtailment meeting

CPS would like to meet with AEP and GE Wind to discuss curtailment
calculations on June 24th in their offices in San Antonio.  The curtailment
calcualtions that we have been working on will be the basis of past and
future billings and therefore need to understand and accepted by all
parties.

Rich Simon plans to be available via conference call.  I would like to have a
representative from GE Wind at the meeting if possible to answer any
questions concerning their curtailment calculation methodology which we are
proposing for May onward.  We will also discuss the modified method for
handling Jan thru April curtailment estimates that Rich Simon has been
working on to account for the missing SCADA data in the prior months
beginning on January 11th.

Ward C. Marshall
Director, Business Development
AEP Energy Services, Inc.

Office (614) 583-6607
Fax     (614) 583-1627
Cell     (614) 736-6022

Mailing Address:
PO Box 16036
Columbus, OH 43216-0036

Physical Address:
155 W. Nationwide Blvd.
Suite 500
Columbus, OH 43215


Who wuz receiving the bills on contracts 2.6598 and 2.6592 in December?  Wuz
it CES or Union Camp?

Thank U


Hi Nancy,

I've misplaced your direct line - could you email it to me?

The travel schedules of the Enron delegation are becoming complicated.  Would
it be possible for you to travel with us to Richmond tomorrow night?  That
would give us more flexibility in case we need to convene before the meeting
on Thursday.  We are staying at the Marriott in Richmond.

Thanks,

Kay
713 345 7566


Gerald,
FYI.
Greg B.
---------------------- Forwarded by Greg Brazaitis/HOU/ECT on 05/09/2001
04:02 PM ---------------------------
From: Greg Brazaitis on 05/09/2001 03:30 PM
To: Eric Gillaspie/HOU/ECT@ECT, Carolyn Gilley/HOU/ECT, Yvette
Miroballi/Enron@EnronXGate
cc: James I Ducote/HOU/ECT@ECT, Brian Redmond/Enron@EnronXGate, Steve HPL
Schneider/HOU/ECT@ECT
Subject: Rio Nogales Power Plant, Seguin, Texas; Confirmation of Assignment
of Agreement to Interconnect and POperate Natural Gas Pipeline Facilities
between HPL and Rio Nogales Power Project to PNG Utility.

Eric, Carolyn, and Yvette:
I will sent to you via interoffice mail, a copy (Carolyn you will get the
original transmittal) of a confirmation of assignment of the referenced
Interconnect Agreement.  The assignment was specified in the Interconnect
Agreement as permitted at the counterparty's option, and as per my e-mail
dated April 18th, Constellation has requested that the assignment be made.
The document that I am forwarding is confirmation of the assignment of the
Interconnect Agreement by Constellation Power Source Holdings (Rio Nogales
Power Project) to Pinnacle Natural Gas (PNG Utility Company) so that our file
is complete.  The Agreement to Interconnect and Operate Natural Gas PIpeline
Facilities between HPL and Rio Nogales Power Project was executed April 17,
2001.

Questions?: 713-571-3170

Greg


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/19/2001
05:12 PM ---------------------------

"Dale M. Nesbitt" <dale.nesbitt@worldnet.att.net> on 01/18/2001 01:34:51 PM
Please respond to <dale.nesbitt@marketpointinc.com>
To: "Vincent Kaminski" <Vince.J.Kaminski@enron.com>
cc:
Subject: Demonstration Proposal Status/Meeting

Vince:

I have come up for air since the holiday and all the machinations that have
befallen the California power markets.  Great for consultants and
independent generators and inbound FT owners but not perhaps so great for
others.  Lots of entropy in the system indeed!

I plan to be in Houston next week from Tuesday through Friday and would like
very much to get 1/2 hour of your time to kick off the demonstration project
I proposed just before Christmas if you are ready.  We are ready to provide
the top quality service that will be needed to give you and your gas guys
the concerted demonstration project you wanted.  I would prefer any time
Friday 1/26 or Wednesday 1/24 first thing in the morning if you have
flexibility.

We were able over the holiday to really make a lot of progress on finalizing
all of our fundamental modeling technologies--short and long run gas and
short and long run electricity.  I am really jacked up how our long run
models are predicting the amount of capacity that can profitably be absorbed
in ERCOT and where, the amount of capacity that can profitably be absosrbed
in California and the WSCC and where, and where gas price basis is likely to
go.  As you saw, our long run capacity addition technique is quite unique,
and I have not yet introduced the long run electric and gas models broadly
in the industry.  It is possible and realistic for Enron to get first mover
advantage (or perhaps more) based on the results of the demonstration
project we discussed.  Let's talk about that next week when we meet.

If you could confirm one of the two suggested times via email or phone at
650.218.3069 in the next day or two, that would be terrific.  I look forward
to seeing you again and to working together.

Also, I would like to get your advice regarding prospective investors in
MarketPoint.  I am starting to get serious inquiries from large companies
you know well who want to invest in MarketPoint as an equity paly, but I am
very reluctant to consider such investments by organizations other than
absolute, unequivocal industry leaders such as Enron.  I remember discussing
this briefly with you, but I would like to get your input with the benefit
of six more months thought if you would be willing when we meet.

Thanks, and all the best.
Dale Nesbitt


---------------------- Forwarded by Richard Shapiro/NA/Enron on 01/12/2001
02:25 PM ---------------------------

"Starck, Leslie E" <STARCKLE@sce.com> on 01/12/2001 02:23:03 PM
To: "'robert.badeer@enron.com'" <robert.badeer@enron.com>,
"'richard.shapiro@enron.com'" <richard.shapiro@enron.com>,
"'smara@enron.com'" <smara@enron.com>
cc:

Subject: Treasury Discussions - Key documents

Sue Mara requested that I email the attached files to you.  They are:  1.
Definition of each of the four products discussed; 2.  Term Sheets for each
of the four products;  3.  Estimates of the IOU's net short position for
2001 and beyond; and 4.  Draft RFO (still being modified).

 <<Backup of Tab D - Definition of Products.wbk>>  <<demand schedule.xls>>
<<Firm RTC term sheet for FERC2a.doc>>  <<Firm RTC term sheet for
FERC2b.doc>>  <<HRO ter1.doc>>  <<product 3.doc>>  <<Calif RFO.doc>>

 - Backup of Tab D - Definition of Products.wbk
 - demand schedule.xls
 - Firm RTC term sheet for FERC2a.doc
 - Firm RTC term sheet for FERC2b.doc
 - HRO ter1.doc
 - product 3.doc
 - Calif RFO.doc


Do you agree with this?
---------------------- Forwarded by Mary Hain/HOU/ECT on 01/29/2001 09:43 AM
---------------------------
From: Tom Delaney@ENRON on 01/28/2001 01:54 PM CST
To: Mary Hain/HOU/ECT@ECT
cc: Alan Comnes/PDX/ECT@ECT, cfi1@tca-us.com, Chris.H.Foster@enron.com,
James.D.Steffes@enron.com, Robert.Badeer@enron.com, Sean
Crandall/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT, Tom_Delaney@enron.com, Tom
Alonso/PDX/ECT@ECT
Subject: Re: More on the Future of the CAISO

Actually DSTAR is doing very well.  There is a very business mined
independent board that is very helpful.  We are getting most everything we
want in the DSTAR arena.  The only problem with the governance of DSTAR is
that public power tries to dominate the advisory groups to give a front to
legitimize its votes giving advice to the board.  The board is very aware of
this and does its job well.  There was discussion with my SWPTF and the
southwestern jurisdictional utilities to merge DSTAR and California and the
effort was going very well until senator peace started some of his antics.
Anyway, DSTARs a very good process right now.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/07/2001
12:27 PM ---------------------------

"Btu" <subs@btu.net> on 05/04/2001 05:24:24 PM
To: "Btu Weekly" <>
cc:
Subject: Btu Weekly

Attached is the latest issue of Btu Weekly.

e-mail: info@Btu.net
phone: 732-758-8222
fax: 732-758-8286

 - wg050701.pdf


Jinsung:  more info on the Calpine deal.
---------------------- Forwarded by Thomas M Suffield/Corp/Enron on
02/16/2000 08:21 AM ---------------------------

Thomas M Suffield
02/15/2000 04:14 PM
To: Benjamin Rogers/HOU/ECT@ECT
cc: Tina Tennant/HOU/ECT@ECT

Subject: Calpine deal.

FYI:
---------------------- Forwarded by Thomas M Suffield/Corp/Enron on
02/15/2000 04:13 PM ---------------------------

Thomas M Suffield
02/15/2000 04:12 PM
To: Tina Tennant/HOU/ECT@ECT
cc:

Subject: Calpine deal.

Please get this to Ben Rogers.
---------------------- Forwarded by Thomas M Suffield/Corp/Enron on
02/15/2000 04:10 PM ---------------------------

	From:  Scott Healy @ ECT                           02/15/2000 12:51 PM

To: Thomas M Suffield/Corp/Enron@Enron
cc: Ben F Jacoby/HOU/ECT@ECT, Mike J Miller/HOU/ECT@ECT

Subject:

As a follow up to our conversation yesterday, I need indicative pricing for a
three (3) year and a five (5) year tolling option for a peaking plant to be
located in eastern PJM, which would utilize 4 (four) LM-6000 turbines.
Assume a 6/1/2001 start date and a location near Parlin New Jersey.  The
structure of the transaction would be as follows:

1.  ENA would sell four (4) LM-6000s to Calpine.
2.  ENA would permit, construct, own and operate the project.
3.  ENA would take back a short-term tolling agreement for the project.

I would like to send Calpine a brief proposal in the net couple of weeks.
How quickly can you come up with indicative pricing for me?


Charles Schwab & Co., Inc.
Email Alert

Internet Daily
for Thursday, November 15, 2001
by Frank Barnako CBS MarketWatch.com

Eshoppers break out their mice

Online holiday shoppers have begun cruising the Web in earnest,
but whether they're spending more than last year remains to be
seen. Nielsen/NetRatings  says the volume of visitors to
shopping sites the past week has increased vs the same period a
year ago. "This year's online holiday shopping season kicked off
stronger than last year by increasing 14%, compared to 10% a
year ago," said Sean Kaldor, vice president for analytical
services.

Visits to Web sites in the toys and games category showed an
overall 65.7% rise in the week ending Nov. 11, compared to the
previous week. Toysrus.com  and Lego.com were the largest
gainers. Home and garden sites had a 40.5% traffic rise and
18.9% more people visited computer hardware sites.

Total domestic sales online topped $1 billion last week,
according to another Web analysis firm, ComScore Networks. The
volume was the highest since the Sept. 11 terrorist attacks. The
increase was driven by a rebound in travel services and other
non-travel categories, such as apparel, indicating early
momentum in the holiday shopping season, the company said.

-----------------------------------------------------------------
Web users resist paying fees

Web sites counting on generating subscription revenue face big
challenges finding customers. The Pew Internet & American Life
Project surveyed several thousand Web users and found that while
17% of them said they have been asked to pay for access to a Web
site for content, only 12% of them did so. Half said they found
a free alternative, according to Lee Rainie, the Project's
director. The research also found the Internet has had an impact
on millions of Americans' lives. Twelve percent say they or
family members have lost money investing in Internet companies,
and 14% know someone laid off by an Internet company or firm
that supplies services to Web companies.

-----------------------------------------------------------------
Credit card fraud top merchant worry

More than half the online merchants questioned in a recent
survey say online credit card fraud is their primary concern as
they go into the holiday season. Almost two-thirds of them are
taking more precautions this year than last, including more
manual checking of submitted information, according to
Cybersource, which provides transaction services for retailers.
Emerchants are optimistic: 54% expect their sales volume to grow
an average of 37% this year from last.

-----------------------------------------------------------------
eBay uncorks wine sales

EBay  is offering wine for sale. Chief Executive Meg Whitman
made the announcement during a speech at the Comdex Computer
show in Las Vegas. "We think it's a big market, we think it's a
fun market," she said, according to CNET. The company's Web site
includes wines, wine racks and even a complete winemaking
facility, with set up and training. She said eBay will list
items only from sellers licensed to distribute wine, and will
not make sales in states where such shipments are illegal.

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

For late-breaking market news you can't afford to miss, go to
http://CBS.MarketWatch.com/

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Notice: All email sent to or from the Charles Schwab corporate
email system may be retained, monitored and/or reviewed
by Schwab personnel. (0801-11478)

Copyright 2001 CBS MarketWatch. All rights reserved.
Commercial use or redistribution in any form, printed or
electronic, is prohibited.

Distribution by Quris, Inc.


Was that you?  I looked at it and thought, "oh, well, they fucked up."
That's hilarious.  Were you at Tom's?

Dude, I'm very sorry about the check for the banjo. I spaced it.   I'll have
it to you as soon as I get back into town.  Apologies.

	"Scott Laughlin" <scottwl@hotmail.com>
	01/18/2001 04:04 PM

		 To: jdasovic@enron.com
		 cc:
		 Subject:

Must have been a real bummer getting that ticket yesterday...
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com


USA: Enron offers to take Azurix private at $7/share.

10/27/2000
Reuters English News Service
(C) Reuters Limited 2000.

HOUSTON, Oct 27 (Reuters) - Wholesale energy marketer Enron Corp. said on
Friday it had made a proposal to the board of its troubled water services
affiliate Azurix Corp. to provide up to $275 million in financing to take
Azurix private at a buyout price of $7 per share.
"The proposed cash buyout allows Azurix public shareholders to receive a
significant premium to the market price of Azurix. Enron believes the value
offered also would be greater than any sale to a third party," Enron said in
a statement.
The specific structure of the proposal has yet to be determined, it added.
Enron said it expected the proposal to have a neutral impact on its own
earnings and credit outlook.

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

Enron Makes Proposal To Azurix Board To Finance $7/Share Buyout

10/27/2000
Dow Jones News Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- Enron Corp. (ENE) made a proposal to provide funding to
take Azurix Corp. (AZX) private at a buy-out price of $7 a share.
In a press release Friday, Enron proposed to finance up to $275 million for
the sole purpose of the buyout. The specific structure of the proposal hasn't
been determined yet.
Enron owns about two-thirds of the company.
Azurix shares were halted at $3.94, up 38 cents or 10.5%, on New York Stock
Exchange composite volume of 111,500 shares. Average daily volume is 239,044
shares.
In a separate press release Friday, Azurix confirmed it received a proposal
from Enron to provide funding to take Azurix private at a buyout price of $7
a share.

Enron, an electricity, natural gas and communications company, said the
proposal would likely have a neutral impact on its own positive earnings and
credit outlook.
Enron said the proposed cash buyout allows Azurix shareholders to receive a
"significant" premium to the market price of Azurix.
Enron's shares were recently trading at $77.94, up 44 cents, or 0.6%, on New
York Stock Exchange volume of 948,100 shares. Average daily volume is 2.4
million shares.
Enron said it believes the value offered would be greater than any sale to a
third party.

Enron said the proposed buyout provides other benefits to Azurix, including a
"significant" near-term reduction in Azurix's general and administrative
expenses, greater certainty to Azurix's customers and employees and increased
flexibility for restructuring Azurix's assets and business.
At June 30, Azurix had general and administartive expenses of $71.3 million.
Enron reported $60 billion in revenue for the first nine months of this year.
As reported in July, Azurix announced it was exploring strategic
alternatives. German utility E.On AG (EON) was considering a bid for all or
part of Azurix, according to a British newspaper.
Azuirx, which manages water and wastewater assets, reported fiscal 1999
revenue of $618 million. The company is currently the target of several
shareholder lawsuits and a fight over water rights in California.
-Stephen Lee; Dow Jones Newswires; 201-938-5400

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


Notice No. 01-20
January 22, 2001

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

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

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

The expiration date for the February 2001 options contract for Copper (HXG01)
is Friday, January 26, 2001.

 GENERAL OPERATIONAL PROCEDURES

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

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

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

TRADING FLOOR OPERATIONAL PROCEDURES

Trading in the February 2001 Copper Options Contract will cease at 2:00 P.M.
on January 26, 2001.  All Brokers and Traders must inform their Clearing
Members of their intentions to exercise or abandon such Options by 4:00 P.M.

On Friday, January 26, 2001, all Brokers and Clearing Members must have a
duly authorized, On-Line Trade Entry ("OLTE") system trained representative
available until such time as the Exchange deems necessary.

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

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

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

Exchange Reports based on Friday,s submissions and processing will be
available on Monday morning January 29, 2001.

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

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

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

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

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

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

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

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

 *****
A) At approximately 4:15 PM, two PRELIMINARY reports of the expiration
process will be available for distribution at the NYMEX Clearing Department:
 1. OPTION EXPIRATION REPORT AND CONFIRMATION - The purpose of this report is
to project the CM,s present position going into the expiration based upon the
transactions which have already been submitted to Clearing.  CMs should
review and modify their adjusted gross positions as of close-of-business on
the business day prior to expiration.  Further adjustments may be submitted
not later than 5:00 PM.  The projected ending gross positions will reflect
transactions accepted or rejected for clearance on expiration night,
inclusive of Ex-Pit, H/C and OPRR transactions which have been submitted to
Clearing prior to 3:30 PM, and trade information submitted to COMEX prior to
3:45 PM.  Normally, this report will also reflect manually submitted Exercise
and Abandonment instructions, the projected number of exercises and maximum
potential assignments for each strike price, the type of exercise (manual or
automatic), whether the strike is In, At or Out of the money, and the
exercise va!
lu!
e associated therewith based on settlement prices established by COMEX on the
day of expiration.

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

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

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

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

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

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

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

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

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

OPTION EXPIRATION PROCESSING CLEARING MEMBER PROCEDURE SUMMARY

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

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

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

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

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

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

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

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

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

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

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

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

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

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

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-20)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


I agree.  The Accounting Dept. informed me that there are two days that
sometimes land on the 25th that CPS considers a holiday.  One is the day
after Thanksgiving and the other is during Fiesta for the Battle of Flowers
Parade.  I requested that they just pay a day early if the 25th lands on one
of these CPS holidays.

I have one more request, however.  In 4.5. Collateral
Requirement/Termination Payment Threshold, could you raise the threshold of
$10 million for a Letter of Credit to $15 or $20 million (whatever you feel
comforable with)?

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Friday, December 15, 2000 5:57 PM
To: CWPfister@cps-satx.com
Cc: Janet.H.Wallis@enron.com
Subject: Re: FW: FW: Enfolio Contract with CPS

Christian,
     I believe this is covered because the language states that if the 25th
is not a
Business Day, the payment will be due the next Business Day.  Business Day
is a defined term as a day when the Federal Reserve Banks is New York are
open for business.  I cannot agree to a Customer's Business Day because it
is not a defined term and may differ from the standard definition of
Business Day.  Therefore that change should not be incorporated.  Do you
agree?

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>

                    -satx.com>            cc:

                                          Subject:     FW: FW: Enfolio
Contract with CPS
                    12/15/2000

                    05:48 PM

Mr. Hyvl,

There was one change that you did not make that I requested.  It was
difficult to tell since only a single word was bolded.

APPENDIX "1"  FINANCIAL MATTERS  BILLING, INVOICE DATE, CHARGES AND PAYMENT

"Buyer shall remit any amounts due on the 25th day of the Month in which
Seller's statement was received.  If the due date for any payment to be
made
under this Agreement is not a Customer's Business Day, the due date for
such
payment shall be the following Customer's Business Day."

There are very few instances where our Business Day would be different from
your business day.  However, as an example, the day after Thanksgiving is a
CPS holiday.  This year, we had a gas payment due on that date which we
sent
on the following Monday.  This is probably the only holiday CPS has that
your company may not have.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Friday, December 15, 2000 4:57 PM
To: CWPfister@cps-satx.com
Subject: RE: FW: Enfolio Contract with CPS

Christian,
     Attached is the modified contract with the changes you requested.
Please print off 2 originals and have them signed.  Please fill in the
purchase order number information on the invoices section of Exhibit A.  If
the number is not available, them please delete the information requiring
the number from the billing and payment provision.  Forward the signed
copies to me or Janet Wallis and we will proceed with execution by ENA.
(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>

                    -satx.com>            cc:

                                          Subject:     RE: FW: Enfolio
Contract with CPS
                    12/15/2000

                    04:16 PM

Unfortunately, we don't have a purchase order issued yet so I can't give
you
a number.  I know that would make it easier for you guys, but I don't think
we can issue one until right before the first gas purchase.  First, a
purchase requisition needs to be issued.  Then, a purchase order will be
released following approvals by the various individuals authorized to sign
off on them.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Friday, December 15, 2000 4:13 PM
To: CWPfister@cps-satx.com
Cc: Janet.H.Wallis@enron.com
Subject: RE: FW: Enfolio Contract with CPS

Christian,
     If the purchase order number will be the same for all deals under the
contract, can you give me the number so that I can include it as a part of
your address for Invoices.

(See attached file: CITYPublicServiceSanAntonio.doc)


FYI re my voice mail to you. Jim

 -----Original Message-----
From: 	pincussr@nmenergy.com@ENRON
Sent:	Wednesday, October 17, 2001 2:04 PM
To:	jderric@enron.com
Subject:	Career Opportunities at Enron

Dear Mr. Derrick:

     Les LoBaugh suggested that I contact you to inquire about an in-house
counsel position at Enron. I am the General Counsel of Niagara Mohawk Holding's
unregulated subsidiaries, Niagara Mohawk Energy, Inc. and Niagara Mohawk Energy
Marketing, Inc. We expect the sale of Niagara Mohawk Energy Marketing to close
in November or December of this year, pending FERC approval, and a sale of
Niagara Mohawk Energy's Distributed Power and Energy Services Business units may
occur contemporaneously with that closing. Therefore, I am now pursuing other
career opportunities.

     I am a good candidate for an in-house counsel position at Enron because of
my 12 years experience as an attorney in the energy industry. As General Counsel
for the Company, I provide legal services and business advise to senior
management and the Board of Directors of both the energy marketing and the
energy services subsidiaries. My experience includes drafting and negotiating
gas and electric retail sales agreements and master agreements and related
documents for wholesale energy trading and marketing transactions, including
physical transactions and financial instruments such as swaps. I monitor and I
am responsible for representing my company in FERC and state regulatory
proceedings. I keep up to date on the fast moving events and trends in the
energy marketing and trading industry by closely monitoring regulatory
proceedings, reading information that is published in trade and related energy
industry publications and my involvement with the National Energy Marketers
Association and the Federal Energy Bar Association. I am also responsible for
representing the company and managing outside counsel in litigation and
alternative dispute resolution proceedings. My experience includes utility
regulatory and legal matters, the transactional work associated with corporate
mergers and acquisitions, corporate governance, human resource/employee issues,
interconnection agreements, municipal law, leasing, financing and secured
transaction agreements, commercial contracts, condemnation litigation and real
property matters.

     I have attached my resume for your review. Please contact me at your
earliest convenience to schedule an interview. I look forward to hearing from
you soon.

     Thank you for your consideration.

                         Very truly yours,
                         Steven R. Pincus

               (See attached file: Pincus Resume.doc)

 - Pincus Resume.doc


Independent Petroleum Association of New Mexico

New Mexico Legislative Status Report

The following bills that may be of interest to our members have been
introduced in the Second Regular Session of New Mexico's 45th Legislature,
which bills will be monitored during the Session, and I will continue to be
alert for any other developments that might specifically affect our
industry:

HB 165--Tribal Capital Improvements Tax Credit:
Introduced by Representative Ben Lujan, Dem., Dist. 46 (Santa Fe). Would
provide that one liable for the oil and gas severance tax, conservation tax
or emergency school tax on production from Indian tribal land will have a
credit each month equal to the lesser of the tax that is exclusively
dedicated to fund capital improvement projects on the tribal land (but not
commercial buildings) imposed on such production by the Indian tribe, or 2%
of the taxable value of such production. The burden of showing entitlement
to this credit would be on the taxpayer, who must furnish proof of payment
of the tribal tax. This bill was assigned to the House Energy & Natural
Resources and Taxation & Revenue Committees. On Friday, January 25, a
hearing was held before the former, where it was temporarily tabled until
Monday, January 28, at 8:30 a.m., to allow industry and the Jicarilla Apache
Tribe to try to agree on its language.

HJM 17--Coordinated Oil & Gas Permitting Process:
Introduced by Representative Patricia A. Lundstrom, Dem., Dist. 5
(McKinley).  Would request that the Department of Environment, the Oil
Conservation Division and the federal Bureau of Land Management cooperate in
the development of a coordinated permit process for oil and gas activities.
This joint memorial was assigned to the House Energy & Natural Resources and
Business & Industry Committees, and a hearing before the former will be held
on Monday, January 28, at 8:30 a.m.

SB 16--Lea and Carlsbad Conservation District Study:
Introduced by Senator Carroll H. Leavell, Rep. Dist. 41 (Eddy & Lea). Would
appropriate $500,000 to New Mexico State University for Fiscal Year 2003 for
a study by the Lea and Carlsbad Soil and Water Conservation Districts of
issues related to the use of water produced by oil and gas exploration from
"deep underground." This bill was found germane by the Senate Committees
Committee and, on Thursday, January 24, a hearing was held before the Senate
Conservation Committee, where it received a "Do Pass" and was sent to the
Senate Finance Committee.

I will continue to keep you posted concerning any changes or additional
issues.

Tom Nance
IPANM Executive Director
January 27, 2002


Mr. Black,
Tom Zenner asked me to follow up with you regarding the Delmarva Heat rate,
as he is out of town for the rest of the week.  Pursuant to the proforma
you have, the heat rate is estimated to be 9,579 Btu/KWh HHV.  I hope this
is what you are looking for.  If not please don't hesitate to contact me at
713-546-2578.

Regards,
Patrick Smith
TM Power Ventures


I love you, sweetie.  You didn't run out of gas did you?


Here's my little bit of info:

GE (S & S) - I've spoken with Lee Johnson (commercial lead) and have traded
voice mails with Kent Shoemaker regarding the project specific turbine
contracts.  I'm requesting a meeting with them on Thursday to iron our
details.    I requested a revised draft this week (from Andrews & Kurth), but
have not received it yet.

ABB - I've swapped calls with Mike Sandrige (their commercial lead) about it,
but haven't connected.  The contract is more straight forward, so problems
are not expected.  Initial draft of the project specific contracts has been
prepared.

Blue Dog - Is that GE equipment? Sheila may have someone she wants to work on
it.  If not, I can fit it in since it relates to what I'm working on with the
GE contracts.

Austin - this is Stuart's project.

Kay

From: Roseann Engeldorf on 10/31/2000 04:51 PM
To: Sheila Tweed/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron
cc: Lisa Bills/Corp/Enron@ENRON, Catherine Clark/HOU/ECT@ECT, "ROB TAYLOR"
<TAYLR@andrews-kurth.com>

Subject: Turbine Purchase Agreements - Urgent Assignment Issues

Hi -

We are fast approaching the time when  we will need to assign equipment
purchase agreements to either the "Developer" in the CSFB structure, to ENA
(I think) in the Austin deal or, more urgently, to WestLB in connection with
a deal in which LJM is currently the nominal purchaser.  The LJM deal is
called "Blue Dog" and ENA has decided it wants those turbines.

Blue Dog-

Lisa has her folks talking to WLB regarding the Blue Dog contract and Rob
Taylor has contacted Winston & Strawn about a new ADA.   We will need to
contact GE about the transfer (actually it will be two transfers - one to WLB
and then into the "Developer" in the CSFB structure).
Who at ENA legal should I work with  to get that process started?  Both Rob
and I have the turbine purchase agreement and can get it to the ENA lawyer.

Austin -

The Austin turbines are the LMs - that purchase agreement contemplates that
the new buyer will execute another agreement with (GE/S&S) covering the
turbines it acquires.   Is that structure still contemplated?  Is there
another way to do this that would be easier from a labor perspective?   I
assume ENA will then be assigning the equipment on to the project company or
EPC contractor, also.

CSFB Structure -

More generally we will need to get buy-in from vendors on the assignment of
the purchase contracts.  Is this an appropriate topic for the the World
Hunger discussion tomorrow?  Are there other vendors who need to be contacted
on this also?

Thanks for your help,

Rose


I just spoke with Kim and she updated me that her credit manager is very
satisfied with the creditworthiness of United Technologies (he thoroughly
reviewed the website and all available information).  He reports UT has an
A+ rating.  However, he can find no link to CalPeak Power, and could we
please provide that.  Kim would also like some additional specifics on the
mechanisms that are envisioned for credit support from UT to CalPeak.

Ann T. Donnelly, Ph.D.
Principal Consultant
Power Resource Managers, LLP
1610 C Street, Suite 102
Vancouver, WA 98663
Phone: 360/693-8484
Fax: 360/693-3487
e-mail: adonnelly@prmllp.com
Website: http:\\www.prmllp.com

-----Original Message-----
From: Charles Hinckley [mailto:cch@cchinckley.com]
Sent: Monday, April 02, 2001 12:08 PM
To: Kim.Ward@enron.com; adonnell@prmllp.com
Cc: Lyons, Mark
Subject: Re: CalPeak Power RFP - Shortlist

CalPeak Power, LLC is a project company and is now a wholly owned subisdiary
of Untited Technologies Corporation (NYSE: UTC).  UTC information is
available at www.utc.com, and from the commercial rating services.

It is not invisioned that CalPeak will benifit from an absolute gurantee
from UTC; however, some credit suport mechanism will be built into the
project and into the fuel supply agreements.

Chuck

----- Original Message -----
From: <Kim.Ward@enron.com>
To: <adonnell@prmllp.com>
Cc: <cch@cchinckley.com>
Sent: Monday, April 02, 2001 2:39 PM
Subject: Re: CalPeak Power RFP - Shortlist

>
> Ann,
>
> I just spoke with Jay Williams from our credit department and he only
needs
> CalPeak's latest audited financial statements with management notes.  Any
> additional information that helps us understand the company and how it is
> set up will be helpful.  Sending this information overnight will probobly
> be our best bet.  My address is as follows:
>
> 1400 Smith Street, EB3206a
> Houston, TX  77002
>
> Also, Jay's phone number is 713-345-3923.  Let me know if you have any
> questions.
>
> Thanks,
>
> Kim
>
>
>
>
>


Chris,

Please review the relevant Ameren questions and our answers.  You can make
the answers more positive if you need to.  Please go to Ben Rogers with any
changes.  He sits next to me. I will be out on Friday.

Thanks,

Don


---------------------- Forwarded by Errol McLaughlin/Corp/Enron on 02/26/2001
06:42 PM ---------------------------

	From:  Dave Foster                           02/23/2001 12:28 AM

Sent by: Enron Announcements
To: All_ENA_EGM_EIM, ENW-Employees
cc:

Subject: Harassment Avoidance FAQ

Harassment Avoidance FAQ

What do I do if I've already taken the class?
If you've already attended a session in the past while employed with Enron,
you do not have to attend these sessions.  A "Refresher Course" will be
offered at no cost.

How do those of us attend the Harassment Avoidance if I do not work in
Houston?
We are making the Harassment Avoidance sessions available on Video to be
forwarded to your HR manager.   You are NOT encouraged to make travel
arrangements to attend the Houston sessions.

Who pays the $50?
The $50 fee will be billed to your cost center. Individuals are not expected
to pay.

Are there any additional dates than those listed on previous email?
Due to the number of people who have not attended in the past, we are making
special arrangements to offer more classes in the next few months.

It is important to note, that unless you've recieved a confirmation, you are
not enrolled.

All remaining questions or concerns need to be directed to David Foster
(x.54360) or by email (david.foster@enron.com).


Attached is the amendment to the field services agreement and a new
construction agreement for the incremental collection facilities.

Independant needs to prepare Exhibit A to the construction agreement.  This
is a description of the facilities to be constructed.  The construction
agreement is the exact form which was executed for the initial Collection
Facilities.  Please review and if everthing looks acceptable, please forward
to Independant.


Please be informed that you  have one or more SRRS requests that are
outstanding due to a pending action to approve or reject decision on your
part. Please  go to the SRRS (Lotus Notes desktop icon) and select the
"Requests Awaiting my Approval" option and complete the necessary  action.
More SRRS request information can be seen within the request by clicking on
"Resource Display".

Your response will enable the SRRS process to continue for eventual closure.

Thank you,
Information Risk Management


bookouts - 371307 to 486875
bookouts - 492135 to 509018
bookouts - 492008 to 508957
bookouts - 463074 to 509086


Marie,

FYI.  Yesterday we received a netting agreement from Valero and delivered it to Jay Wiliams for further handling.  Please add the list of negotiations and assign it to John Viverito.

Thanks.
Nony

 -----Original Message-----
From: 	Aronowitz, Alan
Sent:	Wednesday, October 31, 2001 6:11 PM
To:	Flores, Nony; Williams, Jason R (Credit)
Cc:	Cook, Mary; Viverito, John
Subject:	RE: Valero Netting Agreement

Nony:

Please make sure Marie Heard adds this to the list of netting agreement negotiations, and assigns to John.
Thanks.

 -----Original Message-----
From: 	Flores, Nony
Sent:	Wednesday, October 31, 2001 1:33 PM
To:	Williams, Jason R (Credit)
Cc:	Aronowitz, Alan; Cook, Mary; Viverito, John
Subject:	Valero Netting Agreement

Jay,

We received a fax copy of a Net Settlement Agreement for crude products (ERAC) from Valero.  We're delivering a copy to you this afternoon for further handling.  Please let us know if we can help in any way.

Regards,

Nony Flores


With the final comment from Sullivan & Cromwell:


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Hello,

In case that you sent any message to me in the last week, please re-send
it, because the company that gives me Internet service put some filters in
their system (to avoid viruses) and I did not get most of my messages.

Please erase the phrase "Hi, how are you" in case that it is in your
message (this was the main filter).

Thanks,

Veronica Tapia