Attached is the Red Rock weekly report for your use and file.

Mark Lavine
Enron Transportation Services
Phn : 713-345-5588
Fax : 713-646-8032
mark.lavine@enron.com


Hi everyone.

I have volunteered as a campaigner for the United Way here at ENRON because I
wanted to give-back to the organization that was instrumental in my father's
comfort during his hospice.  I hope that you  will join me in achieving Ken
Lay's goal of 100% participation by Wednesday, August 23.

ENRON has created a home page making it very convenient to make a pledge.
Please take a FEW minutes and visit http://unitedway.enron.com to make your
confidential pledge.

If you experience any problems entering the system please contact me at
X57373 immediately.  We are in the process of ironing out a 'glitche' or
two.

Remember, No gift is too small.

Thank your for your consideration.


Liz,

I spoke with Ginger today to tell her that my notarized INS approval is in the mail.  She said she is really busy because Chris is on vacation.  She reiterated the point that you made that there is another group traveling to Almaty before us.  They are not traveling until Nov. 15.  We will be after that -- perhaps a week or 10 days later.

This journey is certainly full of ups and downs.  I was thrilled to receive INS approval and am now discouraged about not traveling until late November or early December.

I was thinking about making an appeal for us to go before the Almaty group.  What do you think?  Perhaps you have better standing for such an appeal given your health concerns for Oksana.

Shelley


Robert,
This is the file that I referenced in my last email.   Please get this file
going again.  Thanks,  Pat

Daren J Farmer@ECT
02/25/2000 04:52 PM
To: Robert E Lloyd/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON

Subject: Indutrial Report

Robert,

Ken developed an industrial report before he left.  It can be found at
o/logistics/kenseaman/industrialsmonthly/...  There is one file for each
month of 2000.  I need you to update this for March.  This will need to be
distributed to Gas Control, Logistics, and myself.  Let me know if you have
any questions.

D


As we passed along to you yesterday, ESPNews was reporting that Olandis Gary
might get the starting nod for this weeks game.   It was reported in several
places, including CBS Sportsline.

Now CBS Sportsline is offering this
http://football0.commissioner.com/mp/pro-home?league=zero  :   "Contrary to
some earlier reports, Anderson will remain the starter in Denver's backfield
for now. Some reports had indicated that Olandis Gary would start in his
place."

This seems to be consistent with what the local Denver press is saying as
well.

Clearly, nothing is for certain with a Mike Shanahan Running Back Corps but
for now, it looks like Anderson is back as the starter although I wouldn't
be surprised to see Gary see some carries as well.

Thanks to Footballguy Bob Harris for sending me the email on this one which
he entitled "the truth shall set you free"...

Joe

/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/

Bryant Analytics, Inc.   All Rights Reserved 1999-2001

To unsubscribe from this group, send an email to:
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General mtg for Robert having taken over the role of EWS HR Rep.

ND


put this on the calendar.  I would likt to meet with them.  please let carrie
know

---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/05/2000
01:54 PM ---------------------------

	Enron North America Corp.

	From:  experience Enron @ ENRON                           12/05/2000 12:57 PM

Sent by: Carrie A Robert@ENRON
To: Steven J Kean/NA/Enron@Enron, Bill Donovan/EPSC/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Steve Woods/EPSC/HOU/ECT@ECT
cc: Sherri Sera/Corp/Enron@ENRON, Dennis
Vegas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Potential Dow Chemical Visit to Enron - Jan.23rd

The purpose of this email is to notify you and obtain your feedback and
interest level on the above referenced visit.

Dow Chemical has requested a visit to Enron on Jan. 23rd from 5:30 pm to 7:00
pm.  Dow is looking at ways to speed up their supply chain manufacturing
process.   Eighty of their global operations leaders want to visit Enron and
learn how Enron has moved from an old economy business model to a new economy
business model and the impact of that change on Enron's operations and
organization.   The Dow operations people are in Houston for their annual
Operational Leadership conference being held in the Woodlands.

Also, Jeff Skilling will be speaking to another Dow Chemical commercial group
in late April as well as a having a one on one meeting with Dow's CEO to
discuss how Enron and Dow can work closer together.

At your earliest convenience, please let me know your feedback.

Thank you
Carrie
x33522


oh it is going great.  so great to hear from you.  how is everything at the top of the building?

 -----Original Message-----
From: 	Gillette, Lisa
Sent:	Monday, June 04, 2001 1:44 PM
To:	Lenhart, Matthew
Subject:	Hi Sweetie...

how are you doing baby?  just wanted to make sure your day was going well...


Only submit your timesheet if you have exceptional time (i.e, sick, personal, vacation, etc.), or if your rotation information has changed.

 Sorry, we are no longer tracking overtime since you are salary based.

To all A/A Pool members:

?	It is important to inform us if you have exceptional (i.e., vacation, sick, holiday) time.

?	To those members who are submitting time to your assistant, please make sure the assistant forwards
this information on to the A/A program.

?	With the Roll-Out of SAP, you have the ability to go on-line @ http://ehronline.enron.com/ and input your time.

I will continue to email for timesheets regardless if you go on-line.

This memo is to inform you to complete your timesheet.

Quick Reminder:

 You may receive your present paychecks @ EB 1195  (if delivery is not set-up to your location/mail stop).

NEW LOCATION NOTICE TO RECEIVE PAYCHECKS AS OF JUNE 1, 2001 - EB3539C.

Thank You for Your Cooperation

Constance Charles
Sr. HR Assistant
Associate & Analyst Program
Ext. 35614


Vladimir,

The resume did not come through with Sally's email.  Can you please resend?  I will review and get him in front of the right people.

Thanks,

Robert

 -----Original Message-----
From: 	Beck, Sally
Sent:	Monday, June 04, 2001 9:22 AM
To:	Gorny, Vladimir
Cc:	Jones, Robert W.- HR Exec
Subject:	RE: Resume

I printed copies of this resume the day that I received it from you.  I met with Beth Perlman that day and gave her the resume in person.  I also called Philippe Bibi and sent him a copy of the resume.  I am also by way of this e:mail message going to copy Robert Jones on this resume.  Robert heads up HR for Enron Net Works.  Feel free to give Beth, Philippe and Robert a call to add your personal comments about the candidate.  --Sally

 -----Original Message-----
From: 	Gorny, Vladimir
Sent:	Tuesday, May  29, 2001 3:43 PM
To:	Beck, Sally
Subject:	Resume

Sally,

Per our conversation, I am attaching a resume of James Kantara. This gentleman is one of the smartest classmates in the Executive MBA program at Rice, and I highly recommend him.

 << File: 0105 Kantara Exec Resume - Rice.doc >>


What many of you have probably sensed was going to happen has now officially been confirmed: As of June 11,  Steve Hall will be changing his status from  full time Enron-dedicated outside counsel to  full time Enron employee , reporting to Elizabeth Sager in Houston.

 Coming as it does, at a time when trading legal expertise is much in demand in the market, this is a very positive event.  Our team will no doubt continue to benefit from Steve's significant contributions.  ---cgy


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
12/23/98 10:19 AM ---------------------------
To: Fred Lagrasta/HOU/ECT@ECT
cc:
Subject: Re: Memo to Exchange to transfer positions

---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
12/21/98 04:50 PM ---------------------------
To: Janelle Scheuer/HOU/ECT@ECT
cc:
Subject: Re: Memo to Exchange to transfer positions

Here is a draft letter to the Exchange requesting permission to effect the
Seagull transfer.


Anything more on this?

	Alan Aronowitz
	05/29/2001 11:49 AM

		 To: Mark E Haedicke/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: FW: MT BRAGE PACIFIC - GASOIL

FYI.
----- Forwarded by Alan Aronowitz/HOU/ECT on 05/29/2001 11:48 AM -----

	Robert Quick/Enron@EUEnronXGate
	05/29/2001 11:33 AM

		 To: Alan Aronowitz/HOU/ECT@ECT
		 cc:
		 Subject: FW: MT BRAGE PACIFIC - GASOIL

this came in today pm. No spillage as such. I will forward 2 other related
emails. tks

 -----Original Message-----
From:  Nicholson, Andre
Sent: 29 May 2001 14:16
To: Earnest, Scott; Sweeney, Kevin; Nowlan Jr., John L.; Harrison, John H.;
Gasper, Michael J.; Price, Brent A.
Cc: Quick, Robert; Horn, Cindy; Ted Rosen; Mostura, Sylvie; Makinen, Maarit;
Mahoney, Chris; Koller, Ross
Subject: MT BRAGE PACIFIC - GASOIL

Just a short note to you all advising that the vessel MT Brage Pacific (
Enron charter - from Ventspils to Rotterdam) carrying Gasoil grounded today.

The telex message below is self explanatory but please advise if you require
any further information at this stage.

I will keep you all informed when further details are received.

Thanks and Regards
Andre
Telephone No + 44 20 7783 5429
Fax No               + 44 20 7783 8062

London Telex
29/05/2001 13:20
To: ECT LONDON TELEX INCOMING
cc:

Subject: Telex, 8813609 LONMAR G <XTA_6609> TLX01

MSG NO. XTA 6609 01/05/29 12:50

922465 ENRON G
8813609 LONMAR G

FROM :  BRAEMAR
DATE :  29/05/2001
TIME :  13:28:48
REF  :  NH4511797

ATTENTION MAARIT

URGENT     URGENT

FOLLOWING RECD FROM OWNERS

REF: M/T BRAGE PACIFIC/ENRON C/P DD 23.MAY
2001                       16,059.900 MT  GASOIL VENTSPILS/ROTTERDAM
FOR ORDERS
------------

WE REGRET TO ADVISE THAT VESSEL GROUNDED AT SAMSOE BELT IN POSITION
N 55 DEG 53,9 MIN, E 10 DEG 56,5 AT 11:45 HRS TODAY.

WE HAVE INFORMED NORWEGIAN AND DANISH AUTHORITIES.  THERE IS NO
SPILL FROM THE VESSEL AND SHE IS NOT TAKING WATER.

THE BOTTOM WHERE SHE GROUNDED IS OF SAND/MUD, AND WE WILL TRY TO
GET HER AFLOAT AGAIN AT HIGH WATER, 19:27 HRS TONIGHT.
WE HAVE CONTACTED TUG COMPANIES AND EXPECT A TUG TO ARRIVE THIS
EVENING.  THE WIND/SEA IS CALM IN THE AREA.

WE MAY HAVE TO TRANSFER SOME OF THE CARGO TO ANOTHER VESSEL
IN ORDER TO GET BRAGE PACIFIC AFLOAT, BUT THIS WILL ONLY BE KNOWN
TONIGHT.

WE WILL REVERT WITH MORE INFORMATION TOMORROW AM.

REGARDS,
SEATRANS ERMEFER TANKERS, BERGEN/NORWAY
GUNNAR SOLBERG

REGARDS
N. HARDAKER
BRAEMAR MARITIME LTD
AS BROKERS ONLY

NNNN

8813609 LONMAR G
922465 ENRON G


Humphreys  w/TCO gas control approved 37,000 overinjection for 5/27-30.
  Total net 84,963dth into storage.

thanks
joann

---------------------- Forwarded by Joann Collins/Corp/Enron on 05/26/2000
08:35 AM ---------------------------

Chris Germany@ECT
05/26/2000 08:14 AM
To: Alicia Perkins/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT
cc: David Oliver/HOU/ECT@ECT, Crystal Hyde/HOU/ECT@ECT, Joan
Veselack/Corp/Enron@ENRON, Joann Collins/Corp/Enron@ENRON, Robert
Allwein/HOU/ECT@ECT, Scott Goodell/Corp/Enron@ENRON

Subject: CGAS Storage

I made some big changes to the CGAS storage deals 268094 (no changes on this
ticket), 268090, and 268093.

Over the 4 day weekend we are over injecting 195,600 dth.  We will show this
volume coming out in June.  I also made about a 7,000 dth change to the
volumes coming out in August.

I am still showing most of the withdrawal of the ENA balance in August.

Let me know if you have any questions.


Bill:

Please have her call me; as of the 17 th.  we have been shorted by 7836.
Assuming the rate of flow to be the same or less, then we will be 31,000
short overall!

I have taken the nom to 1, please let me know how this will be made up by the
end of the month.
Mark


David, I want to enforce this to nth degree given his understanding of our
industrial offering and that fact he mis-represented his reasons for leaving.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 08/01/2000
06:25 PM ---------------------------

David Oxley
08/01/2000 08:19 AM
To: David W Delainey/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT, Jeff
Donahue/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Mark
Frevert/NA/Enron@Enron
cc: Michelle Cash/HOU/ECT@ECT, Cindy Skinner/HOU/ECT@ECT, Sheila
Knudsen/Corp/Enron@ENRON, Fran L Mayes/HOU/ECT@ECT, Mark E
Haedicke/HOU/ECT@ECT
Subject: Ajello

Seems Jim Derrick got a call last night from Chief Legal Counsel at Reliant
saying that Jim would be joining them to develop something similar to an EES
business for them and wanted to discuss our no-compete.

I have told Michele that we will want to apply the full force of the
no-compete which should keep him out of the market thru Feb 3, 2001.

I'll keep you updated.

David


One addition to today's agenda.  If anyone wants a copy of the draft
legislation, please call my assistant Marcia Linton at 3x3226.

Jim

----- Forwarded by James D Steffes/NA/Enron on 01/26/2001 06:52 AM -----

	Sandra McCubbin
	01/25/2001 09:11 PM

		 To: James D Steffes/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Jeff
Dasovich/NA/Enron@Enron, Vicki Sharp/HOU/EES@EES, msmith1@enron.com,
jbennett@gmssr.com, bcragg@gmssr.com, mday@gmssr.com, Sandra
McCubbin/NA/Enron@Enron, sgovenar@govadv.com, Don Black/HOU/EES@EES, Harry
Kingerski/NA/Enron@Enron, Gordon Savage/HOU/EES@EES, Wanda Curry/HOU/EES@EES,
Scott Stoness/HOU/EES@EES, Richard Shapiro/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron
		 cc:
		 Subject: Status report on Legislative Activity  Thursday, Jan 25

Assembly Committee held a hearing on ABX1-18  Hertzberg, the speaker's
vehicle for allowing DWR to purchase power for the state and to use revenue
bonds to payoff utility undercollections and to finance ongoing DWR operating
costs.  We have forwarded by fax the latest version of this bill.    The
Assembly Committee was only able to discuss three sections of the bill before
adjourning until 1 pm tomorrow.  Chairman Wright expects to take the
remainder of the afternoon tomorrow to go through the bill line by line and
expects to only get part way.  He anticipates no hearings over the weekend
and more hearings to follow Monday through Wednesday next week.  Thus no vote
on the bill is expected for a while. In addition, all parties, including
Wright expect amendments as a result of ongoing negotiations between the
Governor, Speaker, the utilities and the generators.  These would center on
the price the generators will bid and how much if anything the utilities will
have to absorb of past undercollections.  There is no indication at the
present of when they will show or what those amendments will say.

Initial analysis of the bill raises the following issues:

Most important issue   On pages 3 - 8 of the bill, new provisions are added
to AB 1890 (Section 368 et al) to define how the TRA and TCBA are to be
calculated and what the Commission must allow in rates.  These provisions
appear unduly generous to the utilities and may well provoke an immediate end
to the rate freeze if enacted.  Here are the main elements of the language.

368.2  The Legislature finds that it is appropriate to allow the utility to
recover the reasonable costs incurred to purchase wholesale energy.  (that
means the big under collection from summer 2000 to date)

368.3  New definitions of the "adjusted TCBA" and "net undercollected
amounts" are provided which appear to provide for the following way of
wrapping up transition cost ratemaking.

1.  The TCBA is the positive balance as of 12-31-00 increased by the trust
transfer amounts to be recovered in rates for 2001, also increased by amounts
included in retail rates for prior period costs (if any are authorized by the
CPUC), and also increased by the balances in the generation memo accounts as
of 12-31-00.
2.  The new "net  uncollected amount" that the utilities could collect in
rates would be the current TRA account, as reduced by the above defined
balance in the TCBA as of 12-31-00.

NOTE: Edison claims this is the same mechanism that Enron proposed to the
Commission as an alternate to the TURN proposal.  It has similarities to the
comments we filed Nov. 9, but our official position is still to support the
from-the-begining netting of the two accounts as proposed by TURN.

3.  There is also language to lock in the CPUCs current ratemaking for these
accounts so that the TURN proposal to net the TRA and TCBA cannot be
implemented.

4.  The utilities'retained generation will be put in rate base at book value,
except for the nukes, which will have their rate base calculated WITHOUT the
application of overcollections in the transition cost balancing account to
accelerate depreciation.

5.  The CPUC is supposed to establish a dedicated rate component within the
existing rates as of 1-8-01 to allow recovery of the net undercollection (the
large TRA undercollection as reduced per the above).  The undercollection is
to be amortized over 10 years.

6.  The utilities will not have to buy power if their credit rating drops
below BBB+.

The remainder of the bill has to do with the mechanism for the DWR to
purchase power and to have revenue reduction bonds pay for costs in excess of
those recovered in the utilities rates.  Rod Wright is seeking a "stop
loss"provision which will force a rate increase once the DWR has used up all
its appropriation and all the bond revenues to buy power.  This is
controversial with the other members.

We have been asked for a reaction by the committee members and would like a
response ASAP, certainly by mid-day Friday.  This will require balancing the
concerns about and early end to the rate freeze with the increased likelihood
of payment for power transactions once DWR is funded.  The prospect of
successful participation in more auctions is unclear unless more practical
auction terms are used.  However, the auction process is not spelled out in
this bill. The generators are supporting an early end to the freeze so that
they can be paid...I  am in meetings starting early in the am so I will not
be on the 10:30 call, please send comments to scott govenor..either by e mail
or by fax, his fax is 9164480816.  I am also interested in how we should
"message" this.


Erin,

A book by Martha Amram and Nalin Kulatilaka is an excellent
non-technical introduction to real options and it contains all the most
important
references to more advanced books and papers.
The book has an endorsement  by Jeff Skilling on the cover page.

The Research Group offered  several one-day seminars on real options
and applications to the energy industry. We still have a few binders with
the presentation materials available if you are interested.
We plan to repeat the seminar sometimes in the fall.
The first part of the seminar (about 4 hours in the morning) covers general
concept of real options
and their applicability to the energy business.
The second, more technical afternoon session, covers stochastic processes used
to model price uncertainty in the energy markets and specific case
studies (valuation of natural gas storage facilities and of peaking gas-fired
power plants).

The real options approach has been developed specifically to address the
problem of making
investment decisions under uncertainty. Nobody in this field claims that this
is a
perfect tool, but it represents a significant progress compared to other
techniques developed
earlier.

Discounted cash flow analysis that tries to incorporate uncertainty through
analysis of several, in most cases, arbitrary scenarios (most likely,
optimistic,
pessimistic). These scenarios don't identify explicitly the risk drivers
and don't specify the future proactive management decisions.

The real, option approach is very powerful because it allows to (1) capture
uncertainty in an explicit way and  (2) to design investment projects that
allow to exploit future positive developments and reduce future exposures to
downside risk.
This approach allows also create a link between investment decisions and
future
operational decisions. Forward-looking investment decisions create options
that are exercised
in the future through active management of a project.

The real options technology relies heavily on advanced statistical tools to
come
up with the representation of future possible states of the world. The real
challenge is
to use these tools in a sensible way. I have seen in my career (almost 30
years
of applying mathematical tools to business and economic problems) many quants
armed with
powerful computers who reminded me of monkeys armed with hammers. The
challenge is not
to run mechanically  thousands of simulations based on arbitrary assumptions
but to translate in a  creative   way the insights of people who understand
specific  businesses
into parsimonious quantitative models. It is especially critical to
stress-test the assumptions
of any model and to ask the question if the outcome of a model depends
critically on any set of assumptions.
If this is the case one should use common sense to examine the underlying
assumptions.
I remember that in the early eighties quite a few models simulated the
dynamics of oil prices,
but all the stochastic scenarios represented fluctuations around a very
optimistic  upward trend.
One would have been better off stepping back and asking a simple question
what Economics 101
teaches about cartels and the dynamics of supply and demand.

	Enron North America Corp.

	From:  Erin Rice @ ENRON                           06/27/2000 03:52 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Pre-submitted question on eSpeak

Good news!  There is already a question waiting for your July 12 eSpeak
session.  I have pasted it below, although you don't have to respond until
the actual event.  Don't forget to send a bulleted list of discussion topics
if you would still like us to advertise the event on the elevator screens.

Thanks.

- er

submitted by breineck
I was doing some reading about the application of real options in the
evaluation of non-financial assets. Would you recommend any texts or articles
for a
more in-depth study of this area? Is quantification of risk or uncertainty
the major challenge in using this concept? Can statistical tools be used with
this to do
a sort of sensitivity analysis?


Congratulations to Tom Briggs and the entire Pipeline Safety Improvement Act
working group for passage of this legislation today by the Senate, in a 98-2
cliffhanger.  One troublesome amendment was seriously considered, but a
watered down version was worked out b/t Senators Corzine and Breaux.  In its
stronger version, the amendment would have imposed mandatory five year
inspection standards on the industry.   Our initial understanding of the
language suggests it contains flexibility needed by the industry.  We will
reserve judgment until we see the language. But it appears this is a good
victory for the pipeline safety team.  We still have many hurdles on the
bill, including potential for much mischief in the House.  The Senate bill
contained some troubling provisions, but we wanted it passed today "as is" in
order to avoid larger problems.  This goal was largely achieved.
Congratulations team!

P.S.  The Senate used the opening speeches on the bill to have a rather
dogged discussion of the California energy crisis.  All the usual suspects
were on the floor opining on the issue.


John,

My name is Adrian Clark, I am an executive recruiter in the energy industry.
One of my industry sources gave me your name but was not specific as to what
you do for Enron.  My firm, First Call Associates, is currently doing a
search for qualified front office personnel to present to our clients.  I
would like to know more about your background so I can discuss potential new
job opportunities if you are interested.  If the timing is not right for you
at this time, I've included my contact information for future reference.

You can find more information about my firm at www.firstcallassociates.com.
We are very familiar with the nuances of the energy trading business and
have built relationships with many energy companies in North America
enabling us to present qualified employees for their consideration.  Be
assured that any information we discuss will be completely confidential.  My
apologies for sending this to your email at work but I have not been able to
reach you by telephone during business hours.

Adrian Clark
Director
First Call Associates, Inc.
8 Andrew Dr.
Canton, CT  06019
860-693-4122
860-693-4118 (fax)
AClark@firstcallassociates.com

Content-Transfer-Encoding: 7bit
From: "Adrian Clark" <AClark@firstcallassociates.com>
To: <AClark@firstcallassociates.com>
Subject: Adrian Clark
Date: Mon, 15 Oct 2001 10:15:28 -0500
MIME-Version: 1.0
Content-Type: text/plain;	charset="iso-8859-1"
X-Priority: 3 (Normal)
X-MSMail-Priority: Normal
X-Mailer: Microsoft Outlook CWS, Build 9.0.2416 (9.0.2910.0)
X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2600.0000
Importance: Normal

Executive recruiter in the energy and telecommunications industries.


I've got the theater w/lucinda's mom on saturday.  How does fri night or
sunday sound to you?

	"Patti Young" <pyoung@cliverunnells.com>
	02/06/2001 05:50 PM

		 To: <Tana.Jones@enron.com>
		 cc:
		 Subject: RE: Tuesday

Are all the moms, dads, and babies doing o.k.?  Aunts?

I was just kidding about Hannibal.  What's on your mind?

-----Original Message-----
From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com]
Sent: Tuesday, February 06, 2001 1:15 PM
To: pyoung@cliverunnells.com
Subject: Re: Tuesday

I've been booked up lately for various things (mainly people's new babies
and home improvement tasks).  I've been wondering where you disappeared to.
Do you want to do something this weekend.  There are a few new chick flicks
I wouldn't mind seeing...

                    "Patti Young"
                    <pyoung@cliverun        To:     "Tana Jones"
<tana.jones@enron.com>
                    nells.com>              cc:
                                            Subject:     Tuesday
                    02/06/2001 04:53
                    PM

Ms. Jones,

I know you are working hard, but I needed to just check in and see how you
are.

Also, I just talked to Gale Ford, massage lady, and she said she will be
working on Sat., March 3 in the afternoon.  I know weekdays are hard for
you
to make appointments and surely you are in need of a massage by now!!!!

Let me know how you are when you come up for air!!

  Patti


-----Original Message-----
From: Lipke, Craig [mailto:CWLipke@czn.com]
Sent: Monday, November 05, 2001 10:15 AM
To: Theresa Staab (E-mail); Paul Lucci (E-mail)
Subject: FW: Restricted Deliveries
Importance: High

FYI...   -Craig

 -----Original Message-----
From:   Briggs, David [ <mailto:David.Briggs@XCELENERGY.COM>]
Sent:   Friday, November 02, 2001 7:21 AM
Subject:        Restricted Deliveries
Importance:     High

November 2, 2001

ATTENTION ALL SHIPPERS/NOMINATING AGENTS AND PLANT OPERATORS:

Due to the continuing warm weather and other operational considerations, Public Service Company (PSCo) cannot accept either:

Imbalance payback gas from Shippers/Nominating Agents, or
More gas than what is currently confirmed from each plant into PSCo's system.

Plant Operators should restrict deliveries to confirmed nominations ONLY for gas days November 3 - 4; if over-deliveries become a problem during this period, PSCo may activate flow control valves on any plants involved.

Shippers/Nominating Agents should not nominate any imbalance payback to PSCo for gas days November 3 - 4.  Any imbalance gas remaining on the system for this period will be cut to -0- by PSCo.  Thank you in advance for your cooperation.

Sincerely,

Monica Nedbalski
Senior Transportation specialist

David Briggs - Xcel Energy
Project Administrator
Certified Web Designer
Phone: (303) 571-7812
     Fax: (303) 571-7001
 Email: David.Briggs@Xcelenergy.Com

<<...OLE_Obj...>>


Thought you were moving this meeting to 3:00.  Jeff and I have a meeting with UBS from 1:00-2:30.

Stacey


This is to nominate 75,000 MMBtu/d into Eastrans for 3/4/2000 and following.

We will deliver 50,000 into PG & E, 7,000 from Fuel Cotton Valley (continue
750
MMBtu/d sale),
and  18,000 MMBtu/d into your cartwheel agreement at Carthage.


why the hell were you invited?

Shanna Husser@ENRON
05/30/2000 09:34 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Bryan Hull is moving on. Let's celebrate !!!

I love how I am included on the risk outing e-mail distribution list.  I mean
why would I need to take a job in your department when I get e-mails about
all the events anyway?
---------------------- Forwarded by Shanna Husser/Corp/Enron on 05/30/2000
09:31 AM ---------------------------

	Enron North America Corp.

	From:  Yvette G Connevey                           05/30/2000 09:24 AM

To: Ami Chokshi/Corp/Enron@ENRON, Julie Meyers/HOU/ECT@ECT, Michael
Walters/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, Jody Crook/Corp/Enron@ENRON, Brenda F
Herod/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT,
Matthew Lenhart/HOU/ECT@ECT, Timothy Blanchard/HOU/EES@EES, Shawna
Johnson/Corp/Enron@ENRON, Kori Loibl/HOU/ECT@ECT, Laura
Vargas/Corp/Enron@ENRON, Thomas A Martin/HOU/ECT@ECT, Carey M
Metz/HOU/ECT@ECT, Elsa Villarreal/HOU/ECT@ECT, Edward D Gottlob/HOU/ECT@ECT,
Jim Schwieger/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Gary W
Lamphier/HOU/ECT@ECT, Todd Richardson/Corp/Enron@Enron, Tom
Acton/Corp/Enron@ENRON, Shanna Husser/Corp/Enron@Enron, Phillip M
Love/HOU/ECT@ECT
cc:

Subject: Bryan Hull is moving on. Let's celebrate !!!

Yes, we have finally suckered some other Enron group into taking on Bryan
Hull.  Just teasin', Bryan's last day with the Risk Team will be this Friday,
June 2nd.  It wouldn't be right if we didn't send him off without his well
deserved roasting.

This Thursday evening at 5:30 we will gather at Teala's on W. Dallas to bid
Bryan farewell.

For future reference, Bryan will be joining the EOL group on the 26th floor
on Monday, June 5th.  His extension will be the same so feel free to continue
to harass him.

See ya there!

If, in haste, we have left anyone off our distribution please forward the
invite on.

Thanx!
Yvette


Hotline
Enron generates anger London 10 May 2001 09:14 * An Enron executive was
greeted with lots of scepticism and even some anger at the Steel Service
Center Institute,s annual meeting in California this week. Enron Industrial
Markets ceo Jeffrey McMahon included amongst his top ten reasons for Enron,s
&market making8 foray into the steel business a perceived lack of
dependability amongst US mills as well as their practice of treating
customers (except automakers) as &annoyances8. An unidentified mill executive
in the crowd rose during the Q&A session to pointedly challenge McMahon,s
accusations. Another mill executive was overheard complaining that he felt as
though he had just been held up as a &liar and a cheat8. Enron seems to
relish its role as enemy of the steel status quo. The final slide of McMahon,
s presentation to the SSCI touted its recognition as the &pushiest8 company
in the metals business last year * an award bestowed, somewhat
tongue-in-cheek, last December by MB...


Thank you for your note. Andy Zipper runs EnronOnline and would be the
appropriate person to contact.

Regards

Louise

	Enron Capital & Trade Resources Corp.

	From:  David Marcus <David.Marcus@everypath.com>
12/05/2000 05:54 PM

To: "'louise.kitchen@enron.com'" <louise.kitchen@enron.com>,
"'gwhalle@enron.com'" <gwhalle@enron.com>
cc:

Subject: EnronOnline's Wireless offering

Dear Louise and Greg:

Fortune magazine's September article about your--virtually
overnight--success building EnronOnline prompted me to contact you, mostly
because our company's (Everypath, Inc.) wireless technology could be the
perfect tool to help you move the EnronOnline marketplace into wireless by
offering trading anytime, anywhere, via any wireless devices (as we've done
for E*Trade, Fidelity, and others offering complex wireless transactions).

Very briefly, our company has quickly gained real traction in this space.
We were honored as a Smithsonian Laureate this year, named by Forbes among
the 25 Best of the Web in business to business, and recognized by CNet as
one of ten "wireless companies to watch."   Our partners include Sun
Microsystems, Hewlett-Packard, Andersen Consulting and Cap Gemini Ernst &
Young, as well as many others, and have already raised significant funding
from investors such as Robertson Stephens, Comdisco, Dain Rauscher Wessels,
Sevin Rosen, U.S Venture Partners, Andersen Consulting Ventures, Sun, and H
& Q.

If you see commodities trading moving soon into wireless,  just as you saw
(or influenced) the industry to move online, shouldn't Enron lead the way in
wireless trading too?  We would love the opportunity to talk to you about
helping you go wireless.

Let me know if I should follow-up with you or someone else in your group by
sending an email or calling at any of the numbers below.  I look forward to
hearing from you, and to coming home to Houston to speak with you further
about this (I practiced law in Houston for years with Weil, Gotshal &
Manges--over in the NationsBank building on Louisiana).

Sincerely, David Marcus

 <<...OLE_Obj...>>

David Marcus
Senior Corporate Counsel
Everypath, Inc.
2211 North First Street
Suite 200
San Jose, CA  95131
direct (408) 562-7978
cell (650) 281-9010
fax (408) 562-8100
www.everypath.com

 <<...OLE_Obj...>>

David Marcus
Senior Corporate Counsel
Everypath, Inc.
2211 North First Street
Suite 200
San Jose, CA  95131
direct (408) 562-7978
fax (408) 562-8100


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Start Date: 4/27/01; HourAhead hour: 3;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042703.txt


Ken,

I can only say that I hope you, Enron's Board of Directors, Jeff
Skilling, Andy Fastow and Stan Horton spend some real quality time in
jail.

Neal Shaw
U.S. Energy Services, Inc.
Phone:  (402) 861-9520
Cell:      (402) 578-8897
Fax:      (402) 861-0461


Lisa:

I have been the lead originator for LVC since we purchased the asset in
August of 1999.  Given all that we are trying to accomplish to achieve a
successful exit strategy with this asset, I have relied  on people like Bill
Williams and his technical team to move this document and other similar
efforts forward.  Having Bill's support on this document has allowed me to
focus my efforts on closing the negotiations on our tolling agreement
required to support the LVCII expansion.

After my review of this agreement, along with in put from Bill Williams and
Dale Rasmussen,  I will confirm back to you that your comments are
appropriately reflected in the turbine contract to obtain signed off from ENA
Finance.

I'm currently in Denver, please contact me on my cell phone should you have
any questions.

Thank you,
Jim

Cell Ph: 503-464-1206

---------------------- Forwarded by Jim Gilbert/PDX/ECT on 05/02/2001 02:37
PM ---------------------------
From: Lisa Bills/ENRON@enronXgate on 05/02/2001 03:19 PM CDT
To:
Williams@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=2C4A79E9-5692F67A-862565
4B-4F9C03@EX@enronXgate, Stephen Thome/HOU/ECT@ECT, Jim Gilbert/PDX/ECT@ECT,
pthompson@akllp.com@SMTP@enronXgate, Dale Rasmussen/HOU/ECT@ECT, Ed
Clark/PDX/ECT@ECT
cc: Roseann Engeldorf/ENRON@enronXgate, Sheila Tweed/HOU/ECT@ECT, Catherine
Clark/ENRON@enronXgate, Brian Kerrigan/ENRON@enronXgate, Kay
Mann/Corp/Enron@Enron
Subject: LV Cogen Turbine Contract

Rose and I have reviewed the contract Peter sent to us yesterday - the draft
distributed on April 24.  Rose has already provided our comments to Peter on
the Override Letter which accompanies the contract.  I have one big issue
which the lawyers can't answer as it is a business decision.  No one seems
sure if Bill is the acting originator for this contract or not.  I leave it
up to the LV Cogen Origination team to decide.  However, until I receive word
back from the appropriate person and see my changes reflected in the turbine
contract, Finance has not signed off on this agreement so it cannot be
executed on E-Next's behalf.

What is the per UNIT turbine purchase amount?  The Purchase Amount is a
remaining total balance outstanding.  In 6.1.2 Payment Schedule, the payment
amount is a lump sum.  However, in the 2nd para. of 5.4 Cancellation and in
6.1.3 Retention Letter(s) of Credit for example, each UNIT is discussed.
There needs to be an allocation of the Purchase Amount and Payment Amount on
a per turbine basis so Finance can track these costs as such in case a change
order is made to only one turbine or if a turbine is removed from E-Next
prior to all turbines being removed.  Also, how does anyone know for 6.1.3
when the last $788,500 per Turbine is supposed to be paid so we can retain
it?

Also, I would appreciate receiving a clarification of why we don't define the
Purchase Amount as the total and not just the balance remaining.  It could
create discrepancies in the document and for anybody reading the document
trying to understand how much each turbine costs.  E-Next has already made
the approx $10mm payments made to-date.  However, if someone were to pick up
the document to find out how much they could buy the turbines for, it would
appear to be $53.6mm not the Maximum Liability Amount of $63.1mm.  2nd para
of 5.4 refers to the portion of the Purchase Amount to be adjusted upon
cancellation.  However, Exhibit I Cancellation refers to the Unit Liability
Amount as the basis for calculation - this seems inconsistent to me.

Now for the general comments:

Section 1.69 and 1.70 need to change places to be alphabetically correct.

6.1.2 calls for a payment to be made on April 21, 2001.  Exhibit I
Cancellation also has a line for cancellation between March 21 and April 20,
2001.  This will need to be amended as this payment wasn't made given no
contract execution yet.  As everyone knows also, E-Next must be the party to
make this payment to insure the correct accounting treatment.

6.5 is another place where a per Unit price is discussed for increases or
decreases.  How is this possible with an aggregate Purchase Amount?

In all Notice sections please delete "c/o Las Vegas Cogeneration II, L.L.C."
This project is not associated with the E-Next financing.

10.2.3.1 Please underline "Optional Delivery Point"

10.12.2  Please delete the " ' " in "it's" after the proviso.

10.15  The timing of 120 days for delivery of serial numbers herein is
inconsistent with the bracketed 5 months in 10.2.1 and Exhibit P.  Please
conform all to the same time frame.

Has David Marshall reviewed all the insurance provisions of this document.
While a standard turbine contract, there have been some recent
modifications/views from our insurance providers.

I look forward to hearing back from the deal team and reviewing the next
round of documents.


Michelle,

Attached is a draft of ENA's GISB for your review.  Please do not hesitate to
give me a  call with any quetions and or comments you may have.

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


-----Original Message-----
From: Roy Ibasco [mailto:royibasco@hotmail.com]
Sent: Tuesday, October 30, 2001 1:35 PM
To: Arora, Harry
Subject: Hi

Hi Harry,

Just wanted to say hi.  I saw Miguel Vasquez lately and I heard from him that you moved back to trading.  Since I left Enron, I've done Telecom banking for a year in Asia with Lehman.   In that group, I've done a lot of valuation and financial analyses.   Deal flow suffered in the telecom industry with the downturn in market conditions.  On my second year at Lehman, I seized the opportunity to do coverage banking, i.e. winning clients in the Philippines and Taiwan.  With this step, I was fortunate to lead an M&A deal in the consumer goods sector.  It also gave me exposure in energy and financial institutions.   Thanks to my Enron background, I actually showed my value added to Lehman in energy.

It pays to be a generalist in times like this.  The layoffs in banking has been severe.   I have survived so far a big reduction among people of my level.  Good thing I still got a raise this year as many did not.  I don't know about the long term prospects of investment banking but I am thankful that I have a job.  Recently I caught up with my b-school friends in San Francisco and found out that it is equally bad there. Coincidentally, I caught up with a friend of mine who interviewed with Madhur Dayal who know works with Thomas Weisel in San Francisco.

My wife, Loreli, was able to find a job at the South China Morning Post last July.  So far, we are both enjoying Hong Kong.  Long term though, I believe the U.S. makes sense for both of us.

Hope everything is going well with you.  Please let me know if you just happen to be in Hong Kong.

Best regards,

Roy

  _____

Get more from the Web. FREE MSN Explorer download : <http://explorer.msn.com>


I spoke with Rich yesterday.  He said it would be OK to net the storage true
up invoice from Ernie with the Sep invoice.  I mailed the invoice via
interoffice to Jeff.

There are 6 or 7 deals that ENA billed CES for September that should probably
be billed to New Power.  All of the deals in question are on the Central desk.

How does the reconciliation look for Jan - June?  Rich said it was his
understanding that these months look good and the adjustments are minimal.


We have changed the format for our newsletter. Please let me know if you
have any difficulty opening the attachments.

 <<ESCO Newsletter 2002-01.doc>>

 <<FullServiceADJ2002.XLS>>     <<RetailAccessADJ2002.XLS>>


Tom, see below for a copy of the finalized floor plan for the new building.  I believe Brian made some changes yesterday (fyi).  It looks like we GAINED two more seats, so I didn't complain!

 -----Original Message-----
From: 	Rangel, Ina
Sent:	Thursday, October 04, 2001 5:56 PM
To:	Villarreal, Alexandra; Hogan, Irena D.; Presas, Jessica; Huble, Amanda; Vuittonet, Laura; Young, Becky; Salinas, Michael
Cc:	Quezada, Daniel; Hardy, Kimberly
Subject:	Final Copy

Here is the final copy to the new building's floor plan.   Please use the mailstops indicated below for your groups

Alex Villarreal & Irena Hogan - 353
Kimberly Bates - 455
Amanda Huble - 805
Jessica Presas - 805
Becky Young - 805
Laura Vuittonet - 353

Please print me out a copy of your churn once you are done.  Please include personal items, cpu, NO MONITORS, ipaq's, palm pilots, wireless keyboards and mice, scanners, steno numbers.  NO AMTELS WILL BE GOING.

We will discuss printers and fax machines next week.

Please let me know if you have any questions or see something left out.

Many thanks,
Ina Rangel


you and your pussy gmat class

From:  Bryan Hull
11/02/2000 10:13 AM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Keneally's for the Rockets

I have GMAT class, can't make it.

	Enron North America Corp.

	From:  Eric Bass                           11/02/2000 10:01 AM

To: Bryan Hull/HOU/ECT@ECT, Timothy Blanchard/HOU/EES@EES, Matthew
Lenhart/HOU/ECT@ECT
cc:
Subject: Keneally's for the Rockets

Anybody up for going to Keneally's tonight to watch the Rockets game.  Beer,
Golden Tee, and cheap pizza.

Let me know.


please print

 -----Original Message-----
From: 	enron_update@concureworkplace.com@ENRON
Sent:	Thursday, October 18, 2001 5:26 PM
To:	Shively, Hunter S.
Subject:	<<Concur Expense Document>> - Kevin Ruscitti

The following expense report is ready for approval:

Employee Name: Kevin  . Ruscitti
Status last changed by:  Automated Administrator
Expense Report Name: Kevin Ruscitti
Report Total: $159.31
Amount Due Employee: $159.31

To approve this expense report, click on the following link for Concur Expense.
http://expensexms.enron.com


So tired I am.


Weather Headlines
Tuesday November 20, 2001

*** Models converging on an increasingly stormy pattern. The question still
to be answered is when the arctic air arrives.***

     The current cool down in the East is very transitional with warmer air
to return by the end of the week. The pattern has clearly changed as the
jet stream has been suppressed Southward. In the short (and medium) terms,
things should turn stormier, but not necessarily colder. In fact, latest
charts indicate a healthy ridge to build late this period over the SE U.S.
in response to a trough developing over the Rockies. This opens the Gulf of
Mexico up in a moisture sense, but any winter snows look to be confined to
the extreme Northern tier of states. Much needed rains may fall from the
Plains to the East Coast by the weekend in areas that have been parched
this Fall. In terms of temperatures, 5 day averages will not depart
significantly from normal the rest of the week though the trend late in the
period will be for a warmer East and a cooler West.

     I have been consistently forecasting colder air (along with most
others) in the 6-10 day period for a couple of weeks now. It has been slow
in developing and the cool down now in the East would hardly be considered
significant unless it is compared to the record warmth of the last couple
of weeks. The pattern I foresee going into early December is colder
relative to normal in the West and warmer in the East. Specifically a storm
track from the SW into the Plains and NE will set up allowing for generous
rain (with snow North) to develop. Arctic air is moving to this side of the
pole and pooling in NW Canada. Now, a mechanism to drive it SE is needed.
One of the tools used that I occasionally refer to is the North Atlantic
Oscillation (NAO).  Most winter forecasts have predicted this as largely
negative this season which is a robust signal for cold air in the East. It
has been negative the last two weeks though in fairness its reliability as
a signal gets much higher in December for cold. I find it interesting to
note the signal is expected to go weakly positive next week. Bottom line
for the period is I see a continuation of a cold bias with the Western
trough and a warm bias in the vicinity of the Eastern ridge. We may also
see a significant storm move through the country during the period, but
again I look for snow to be confined to the North.

For the period Tuesday November 20 through Saturday November 24, expect the
following temperature trends:

Average 1 to 3-degrees below normal: Gulf Coast, Southeast, Mid-Atlantic?

Average 1 to 3-degrees above normal: Ohio and Mississippi Valleys, Great
Lakes, Southern Plains, Pacific NW, California?

Average 4 to 6-degrees above normal: Desert SW,  Rockies, Intermountain
West, Central and Northern Plains?

Andy Weingarten, Meteorologist  APB Energy / True Quote


Notice No. 01-114
March 30, 2001

TO:
All Exchange Members

FROM:
Neal Wolkoff, Executive Vice President

SUBJECT:
NYMEX ACCESS(r) Web Site

As of Sunday, April 1st (for trade date Monday, April 2nd, 2001), the NYMEX
ACCESS(r) web site will remain unavailable.  We expect to have the web site
available on Sunday, April 8th for trade date April 9th.  We will inform you
if the web site becomes available earlier.

Please call the NYMEX ACCESS(r) Control Center (NACC) for all NYMEX ACCESS(r)
price information at 1-800-438-8616.

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

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(01-114)"

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 did the following deals with Ms Overton yesterday.

Rolled the park & loans to November.

Purchased 3 transport contracts - 500L to Broad Run.
1.  2500 day for Nov-Jan
2.  2500 day for Feb-Mar
3.  3893 day for Nov only.


-----Original Message-----
From: 	Schneider, Bryce
Sent:	Tuesday, November 20, 2001 7:22 AM
To:	Rogers, Benjamin
Subject:	FW:

04:33 20Nov2001 RSF-Platt's: Enron sees cash drain, warns on survival

New York (Platts)--20Nov2001/533 am EST/1033 GMT Enron filed Q3 financials late Monday, revealing a huge cash drain, despite last week's $1.5-bil asset-backed infusion from merger partner Dynegy. Enron said its cash Friday had fallen to $1.2-bil, even with the Dynegy payment three days earlier, $550-mil drawn on a new bank line last week and $3-bil drawn on existing lines earlier this month to pay off $1.9-bil of commercial paper. Enron blamed operating costs, trade settlements and collateral deposits paid to trading partners. Enron said it expects $800-mil soon from asset sales and got another $440-mil bank line Monday. But it warned it might not be enough to keep its investment-grade credit rating or restructure debt coming due. That could have a "material adverse impact on Enron's ability to continue as a going concern," it warned.


Opps.  No, I don't have anything yet.  I got a message from Ben 2 hours ago
that said to hold off on Montana Power.  Did you hear differentlly?

	From:  Chris Booth                           04/02/2001 03:47 PM

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

Subject: Re: Montana Power

Kay,

This is for the Westinghouse 501D5A.  Any progress on approving and
initiating the exclusivity agreement..

Chris

Kay Mann
04/02/2001 03:30 PM
To: Chris Booth/NA/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT

Subject: Re: Montana Power

The issue is getting an assignment agreement that GE will sign.  I've
requested copies of the docs signed on the Pastoria deal, which is the most
recent GE frame assignment transaction.  That should be our starting point.

Kay

	From:  Chris Booth                           04/02/2001 03:28 PM

To: Kay Mann/Corp/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT

Subject: Montana Power

Kay,

Once we sign the exclusivity agreement, I would like to get MPC a draft of
the Assignment document for their review.  How long will it take to have a
version ready for MPC.

Thanks,

Chris


We received the First Amendment to ISDA Master Agreement, dated as of May 8,
2000 (the "Amendment"), which amends the ISDA Master Agreement dated as of
December 9, 1998, between ENA and HS Resources, Inc.   The Amendment
increases the Counterparty's collateral Threshold from $2,500,000 to
$10,000,000 and adds in a legal form change .   Copies will be distributed.


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I notified Jim Fell and Terrell Gault of the delay in getting the documents
to them, and Jim actually said he had both the Business Plan and the EIS and
therefore didn't need either. Hopefully the Business Plan will arrive from
BPA today and I'll send it off to Terrell.

Also, I'm sorry about the errors on the place cards. I was in a hurry to get
them out to Sir Not-So-Speedy and overlooked those details. I hope it didn't
cause too much confusion.

Kate


Attached is a clean and redlined version of the Boeing Contract with my revisions.  Please review, specifically Section 4.2 and Article 7.  I want to make sure you are OK with those sections specifically.  Sorry for the delay on this.


Diana Scholtes
Sean Crandall
Chris Mallorey
Tom Alonso
Mark Fischer
Bill Williams
Bob Badeer
Matt Motely
Mike Driscoll
Tim Belden
Jeff Richter
Mike Swerzbin

Thanks


Re: Ferc total for 1997 by Desk (created by Mary Hain/HOU/ECT on 3/25/99)


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/07/2001
04:43 PM ---------------------------
To: Harry Bucalo/HOU/ECT@ECT, Bill Kyle/NA/Enron@Enron, Adriane
Moratto/NA/Enron@Enron, Teresa Mandola/Corp/Enron@Enron, Lisa
Gillette/HOU/ECT@ECT, Beth Cowan/NA/Enron@Enron, Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Fw: Security Alert

Due to the high number of attacks on women in secluded parking lots the
city of Melbourne, Australia opened the world's first all female parking lot.
Even the attendants and security staff working the lot are all female in
a further effort to create a comfortable and safe atmosphere.
Attached is a picture of this one and only parking lot.

 - Carpark.jpg


Just a quick heads-up:

UBS is intending to give everyone in Houston an email address in the format: firstname.lastname.ubswenergy.com.

Obviously, this conflicts a bit in that we are promoting the online system as ubswenergy.com.

I don't see this as a huge issue, but wanted you to know before it happens.

Dave


In last week's Monthly Close Process Overview training class, we discussed the payment and refund functionality in TIS.  It has come to my attention that one more clarifying point needs to be made.  Please allow me to explain the circumstances of the issue.

The Consolidations group is gathering payment and refund information for the 10Q (the quarterly SEC report).  In the 10Q, we have to provide the amount of payments we made and refunds we received by quarter.  When gathering the information for the 3rd quarter, the Consolidations group noticed that prior quarter information changed in TIS.  Since we cannot go back and change the information that we reported for the 1st or 2nd quarter 10Qs, those new payments/refunds have to be reported in the 3rd quarter.  Now, our YTD TIS report does not tie to the information we provided for the 10Q.

To keep the TIS report consistent from quarter to quarter, please do not add a payment or refund in TIS to a prior quarter.  For example, as of today, we are still finalizing September business (the 3rd quarter).  If you realized today that a refund should have been entered in TIS for May business, do not enter that refund in May business.  Enter it in July business (the closest month in the next quarter).  If, however, you realized today that a payment should be entered in August business, you can enter that payment in August business because August is part of the 3rd quarter which is the quarter we are currently reporting.  Please note that it is OK to change the description of a prior quarter payment or refund.  Just don't change any dollar amounts or add any new amounts.

This issue just reemphasizes the need to tie out our TIS subledgers to general ledger every month.  If we analyze the differences every month and enter the payments/refunds every month, this should not be a problem.

SPECIAL NOTE:  The Consolidations group has finalized the 3rd quarter payment and refund information for the 10Q that is due tomorrow.  If you need to make any changes to payment / refund amounts in TIS, please contact Mary Sontag.

Please let me know if you have any questions.

Lanette Earnest
Tax Solutions Team
713-853-7251
EB 1722
http://tax.enron.com/


---------------------- Forwarded by Lysa Akin/PDX/ECT on 03/23/2001 09:38 AM
---------------------------

Ginger Dernehl@ENRON
12/29/2000 08:06 AM
To: assad@elektro.com.br, Alan Comnes/PDX/ECT@ECT, Alberto
Levy/SA/Enron@Enron, Aleck Dadson/TOR/ECT@ECT, Allison
Navin/Corp/Enron@ENRON, Amy Fabian/Corp/Enron@ENRON, Barbara A
Hueter/NA/Enron@Enron, Bernadette Hawkins/Corp/Enron@ENRON, Bill
Moore/NA/Enron@Enron, cristinah@elektro.com.br, Carlos Gustavo
Azevedo/SA/Enron@Enron, Carmen Perez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Carolyn Cooney/Corp/Enron@ENRON, Charles Yeung/HOU/ECT@ECT, Chauncey
Hood/NA/Enron@ENRON, Chris Long/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Cynthia Sandherr/Corp/Enron@ENRON, Damon
Harvey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dan Staines/HOU/ECT@ECT, Daniel
Allegretti/NA/Enron@Enron, Dave Mangskau/Corp/Enron@ENRON, Donald
Lassere/NA/Enron@Enron, Donna Fulton/Corp/Enron@ENRON, Eidy
Catala/TRANSREDES@TRANSREDES, Elizabeth Linnell/NA/Enron@Enron, Frank
Rishe/NA/Enron@Enron, Geriann Warner/NA/Enron@Enron, Ginger
Dernehl/NA/Enron@Enron, Gisele S Braz/SA/Enron@Enron, Gloria
Ogenyi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Guillermo Canovas/SA/Enron@Enron,
Harry Kingerski/NA/Enron@Enron, Howard Fromer/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Janine Migden/NA/Enron@Enron, Javier
Pantoja/TRANSREDES@TRANSREDES, Jean R Dressler/NA/Enron@Enron, Jean
Ryall/NA/Enron@ENRON, Jeff Brown/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Jeffrey Keeler/Corp/Enron@ENRON, Joao
Paixao/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joe Allen/NA/Enron@Enron, Joe
Connor/NA/Enron@Enron, Joe Hartsoe/Corp/Enron@ENRON, Joe
Hillings/Corp/Enron@ENRON, Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Joseph Alamo/NA/Enron@Enron, Kathleen Sullivan/NA/Enron@ENRON, Kerry
Stroup/NA/Enron@Enron, Kikumi Kishigami/NA/Enron@Enron, Kirsten
Bellas/NA/Enron@Enron, Lara Leibman/NA/Enron@Enron, Laurie
Knight/NA/Enron@Enron, Leslie Lawner/NA/Enron@Enron, Linda J
Noske/HOU/ECT@ECT, Linda Robertson/NA/Enron@ENRON, Lindsay
Meade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lisa Yoho/NA/Enron@Enron, Lora
Sullivan/Corp/Enron@ENRON, Luiz Maurer/SA/Enron@Enron, Lysa Akin/PDX/ECT@ECT,
Marchris Robinson/NA/Enron@Enron, Marcia A Linton/NA/Enron@Enron, Marcie
Milner/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Maureen
McVicker/NA/Enron@Enron, Melinda Pharms/HOU/ECT@ECT, Michelle
Belzak/TOR/ECT@ECT, Mona L Petrochko/NA/Enron@Enron, Nancy
Hetrick/NA/Enron@Enron, Patrick Keene/NA/Enron@Enron, Paul
Kaufman/PDX/ECT@ECT, Ray Alvarez/TRANSREDES@TRANSREDES, Rebecca W
Cantrell/HOU/ECT@ECT, Ricardo Charvel/NA/Enron@Enron, Richard
Ingersoll/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Robert
Frank/NA/Enron@Enron, Robert Hemstock/CAL/ECT@ECT, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robin Kittel/NA/Enron@Enron,
Ron McNamara/NA/Enron@Enron, Roy Boston/HOU/EES@EES, Rubena
Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandra McCubbin/NA/Enron@Enron,
Sarah Novosel/Corp/Enron@ENRON, Scott Bolton/Enron Communications@Enron
Communications, Sergio Assad/SA/Enron@Enron, Stella
Chan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen D Burns/Corp/Enron@ENRON,
Steve Montovano/NA/Enron@Enron, Steve Walton/HOU/ECT@ECT, Steven J
Kean/NA/Enron@Enron, Sue Nord/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON,
Susan M Landwehr/NA/Enron@Enron, Terri Miller/NA/Enron@Enron, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tom Briggs/NA/Enron@Enron, Tom
Chapman/HOU/ECT@ECT, Tom Delaney/Corp/Enron@ENRON, Tom
Hoatson/NA/Enron@Enron, Tracy Cooper/Enron Communications@Enron
Communications, Valeria Lima/SA/Enron@Enron, Vinio Floris/Corp/Enron@Enron,
Xi Xi/Enron Communications@Enron Communications
cc:
Subject: Department Conf. Calls for 2001

Below is a list of dates for the monthly (Friday)  department conference
calls for the year 2001.  Please mark your calendars accordingly.

Dates:   Friday, January 26
   Friday, February 23
   Friday, March 23
   Friday, April 27
   Friday, May 25
   Friday, June 22
   Friday, July 20
   Friday, August 17
   Friday, September 14
   Friday, October 12
   Friday, November 16
   Friday, December 14

Time:   10:30am CST

Number:  1-800-283-1805 (domestic #) Rick is listed as the host for these
calls!
   703-736-7385 (int'l #)

Location:  EB4701 (for those in Houston)

Thanks and please call if you have any questions.

HAPPY NEW YEAR TO ALL!!!!!!!!

gngr
713-853-7751


ON THE GRID OR OFF THE GRID
Bigger Is Better
An interstate electricity highway could leverage economies of scale to keep
the lights on Burton A. Weisbrod, Glen E. Weisbrod
Sunday,?February 25, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/02/25/S
C177059.DTL
WE COULD HAVE left it to the states. When the Interstate Highway System was
proposed nearly 50 years ago, we could have said, "Leave it to each state to
decide on its roads and to pay for them, or leave it to private enterprise to
build toll roads wherever it is profitable." Fortunately, we didn't.
Today, vehicles can travel throughout the country on a system of integrated
high-capacity roads that crisscross the nation. There are many differences
between the flow of cars or trucks and the flow of electricity. But just as
the Interstate Highway System ushered in a new era of easier movement of
people and goods across the states, allowing enormous economic and social
gains, so, too, do we now need to overcome the obstacles to the easy flow of
power across state lines.
Many forces are at work contributing to California's electricity crises, and
power shortages in other parts of the country also are quite possible. The
growth of population and industry in California has expanded demand for
electricity. Legislative constraints, reflecting environmental protection and
other concerns, have discouraged construction of electricity-generating
plants.
Periodic shutdowns of generation plants for maintenance have caused short-
term power shortages. And, in an oddity of California law, the prices that
power producers can charge distributors are deregulated, while the prices
that those distributors can charge consumers are regulated and restricted.
But largely missing from the debate of what can be done to balance supply and
demand is discussion of an effective national power grid that would permit
substantial amounts of electricity to flow, as highway traffic does, from one
state to another.
Interstate transmission connections do exist now, but are limited in
capacity. They were primarily designed to meet temporary needs associated
with local power emergencies, not for sustained use. If those interstate
lines were upgraded to greater capacity, then we could move toward actually
creating a national power grid.
An effective national power grid could result in far more competition among
producers of electric power across the nation, and far more options to meet
demand in any local area. No state or region would need to depend simply on a
small number of generating producers within its borders, and the increased
number of interstate competitors would bring greater assurance of supply and
lower prices.
The underlying problem is basically one of incentives. With the maze of
state, and federal regulations on the production, distribution and pricing of
electricity, there is great risk and little incentive for private
construction of costly transmission lines that cross multiple state borders.
Imagine a power plant in state A, but near state B, with that plant
occasionally having excess production capacity. There is no market for the
power in state B, but there is demand for it in state C, which is adjacent to
it. In a smoothly functioning, efficient, power transmission system, power
would move from the generating plant in state A, across the border for use in
state B, thereby permitting deals so that power produced in that area could
be sent to state C. Through such a domino-like process, power available in
one region effectively can help alleviate a shortage in another area - with
only a series of relatively short-distance transmissions.
Development of such an integrated electricity transmission network is what
the federal government can and should foster. It would strengthen the nation;
it would expand options for users; it would increase competition among
suppliers, to the benefit of consumers; it would overcome the multiplicity of
state regulations that have the effect of restricting incentives for
profitable interstate power transmission.
The Interstate Highway System did not solve all the problems of the nation's
escalating population of cars, and it was not cheap. But, designed to
maximize interconnections between metropolitan areas, with ample systemwide
capacity to spare, it did transform the country, binding the 48 contiguous
states into an integrated whole.
The effect: reduced costs and increased "exports" of California fruits and
vegetables to the Midwest, and reduced costs, along with increased exports of
Midwest manufactured products to the West.
Just as it does not make sense for every state to act like a separate
country, building roads just for its own residents, or growing all of its own
food supply, it is equally inefficient for each state to independently
develop its own power supply. It is foolish to find electricity producers in
one state claiming that they should not "help out" consumers in another
state.
A nationwide system would take better advantage of differential electricity
demand in various parts of the country, seasonally and even in the course of
a day.
To consumers and industrial users in California, the effects of a national
electricity transmission grid would be real and enduring, but not
spectacular. It would, however, go far to achieving the quiet result that
every consumer seeks - lower prices, more reliable electric power supplies.
There is no single solution to California's energy crisis, but developing a
national interstate electricity highway system would go far toward addressing
it. Local power distribution within a state would remain a matter of state
control. The federal government's role would be largely to provide financial
incentives for constructing additional interstate transmission capacity, and
to establish standards for its design and utilization - just as is the case
with the Interstate Highway System.
A survey of history and government professors conducted by the Brookings
Institution last year identified the Interstate Highway System as one of the
Top Seven governmental achievements of the last 50 years - along with
rebuilding Europe after World War II and expanding the right to vote. An
interstate electricity highway system could well be among the top
achievements of government in the next half-century.
MACRO POWER TRANSMISSION
WE HAVE AN ELECTRIC power crisis in California. In fact, we have two
problems: a short-term problem and a long-term problem.
Short term, the problem, from the consumer perspective, is:
-- Soaring electricity bills.
-- Fear of paying the mounting debts being incurred by electricity
distributors such as Pacific Gas and Electric Co. either in rate increases or
higher taxes.
-- The threat, and to some users the reality, of no lights, no refrigeration,
no heat.
These concerns are real and severe. But they are merely symptoms of a serious
long-term crisis: Incentives to the power industry are wrong!
As Adam Smith reminded us over two centuries ago, we do not look to the good
intentions of sellers to get them to serve the public interest; we look to
their self interest. Then, as today, wise public policy calls for aligning
the two, by providing incentives for the development of an electricity system
that provides power that is dependable, is produced efficiently and is
distributed competitively, so that prices are low.
This long-term problem will not be solved by the series of Band-Aids that
governmental officials and power producers and distributors are skirmishing
over. Now is the time to develop a long-term plan.
Two elements of a long-term plan for efficient and reliable electricity are
clear:
-- Electricity self-sufficiency for each state is bad policy. It is easy to
think that dependency on power imports from other states is a root problem.
It is not. Trade and competition mean access to more producers, and that can
bring efficiency in electricity no less than in food, electronics or autos,
as low-cost sources are utilized. (Promoting more interstate options does not
preclude building more local generation, and small, "micro" electricity
generating units do have a role as part of an overall electricity policy.
However, the advantage of their flexibility must be balanced against their
generally higher cost for meeting predictable long-term demand.)
-- Incentives are needed to encourage investment in electricity transmission.
It does no good to have low-cost power production unless the power can reach
users. This is why the federal government has such an important role to play
in financially encouraging and supporting a national interstate power highway
system.
--Burton A. Weisbrod and Glen E. Weisbrod
Burton Weisbrod is John Evans Professor of Economics and Fellow, Institute
for Policy Research, Northwestern University, and a former senior staff
economist on the Council of Economic Advisers to Presidents Kennedy and
Johnson. Glen Weisbrod, his son, is president of Economic Development
Research Group Inc. in Boston.
Burton Weisbrod is John Evans Professor of Economics and Fellow, Institute
for Policy Research, Northwestern University, and a former senior staff
economist on the Council of Economic Advisers to Presidents Kennedy and
Johnson. Glen Weisbrod, his son, is
,2001 San Francisco Chronicle ? Page?WB1

Governor Calls for 10% Cut In Usage
On national TV, Davis increases goal on energy
Tanya Schevitz, Chronicle Staff Writer
Monday,?February 26, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/02/26/M
N44189.DTL
Signaling a greater urgency in California's power crisis, Gov. Gray Davis
said yesterday that keeping the lights and air conditioners running this
summer will require every Californian to reduce electricity usage by about 10
percent.
In addition, he said, the state must get more electrical power online by
then.
His call for a 10 percent cut is a significant jump from the 7 percent he was
asking for during his State of the State speech last month, and it may be a
difficult stretch for consumers. Davis made his remarks on NBC's news show
"Meet the Press."
State Sen. Don Perata, D-Oakland, praised the governor's statement on
national television.
"The most important thing right now is that the governor said that, because
there has been general skepticism statewide, reflected both in anecdotes and
public opinion polls, that we are in fact facing a crisis," Perata said. "If
you don't believe, you won't conform, you won't respond."
But, he said, Davis will not get the conservation he wants unless consumers
are given financial incentives. Perata said he will propose legislation today
to give $1 billion to customers who cut down on their electricity use during
the summer months.
Severin Borenstein, director of the Energy Institute at the University of
California at Berkeley, said if temperatures soar this summer, it will take a
"huge effort" to keep the state at safe electricity levels.
NEED FOR CONSERVATION
"We are in big trouble," Borenstein said. "That doesn't mean we can't avoid
blackouts -- that means we will have to take serious measures."
The needed steps include instituting variable prices for commercial and
industrial users that reflect the supply and demand at any given hour and
hooking up air conditioners to cycling systems, he said. For residential
users,
he said, it will mean increases for use above a certain level.
Forecasters predict a shortfall of at least 5,000 megawatts this summer, but
the state got some good news Thursday when the California Independent System
Operator, which coordinates the flow of electricity through the state's power
grid, removed all power alerts for the first time in more than a month.
Lorie O'Donley, a spokeswoman for the California ISO, said that she does not
expect any changes today but that it is too early to make any predictions
about the summer power situation.
"We still need to check the snowpack and the hills and the hydro situation in
the state," O'Donley said. "Conservation is a big part of it, and whatever
people can do to step up their conservation efforts will be a huge factor in
avoiding blackouts."
GOVERNOR DODGES BLAME
Davis appeared on "Meet the Press" while visiting Washington, D.C., for a
meeting of the National Governors Association and a concurrent meeting of the
Democratic Governors Association, which he chairs. With him on the program
were Sen. John Kerry, D-Mass., Sen. Pete Domenici, R-N.M., and Republican
Gov. Mike Huckabee of Arkansas.
Davis took the opportunity of the high-profile television show to tell East
Coast decisionmakers and Wall Street analysts that the blame for the state's
energy crisis does not lie with him and to reassure them that he is taking
solid steps to resolve the problem.
"Both President Bush and I inherited California, a flawed deregulation
system," he said during the broadcast. "Secondly, no major plant has been
built in California prior to my governorship for 12 years."
He outlined some solutions, including the approval of nine new power plants,
with six under construction and three expected to be online this summer, and
14 more in the pipeline.
In a slip of the tongue, Davis said on yesterday morning's broadcast that
consumers would need to cut electricity use to only 10 percent of last year.
"It will require every Californian using about 10 percent of the electricity
than they did the year before and a little luck in getting some extra
megawatts on line this summer," Davis said.
What he meant, a spokesman said, was they had to cut use by 10 percent.
Still, that will require significant sacrifice.
In addition, Davis has said that he wants to add 5,000 megawatts of power --
enough for 5 million homes -- by summer. He has promised to speed up the
approval process and provide bonuses to builders who finish before July.
The state also established an $800 million conservation program this year.
But Borenstein said that many of the ideas floating around for spending the
conservation money are for efforts that would not help for about another
three years.
ON NATIONAL MATTERS
During yesterday's show, Davis also weighed in on President Bush's tax-cut
proposal and former President Bill Clinton's controversial last-minute
pardons.
The administration should wait for a tax cut until the money is available, he
said.
"All of us who have been in government for a while have seen the roller-
coaster ride of surpluses and then shortages and surpluses and shortages," he
said. "Clearly, people need tax relief, but it should be moderated to the
point where we don't kill the golden goose, which is a strong, growing
economy. "
Although he received a significant campaign donation from the father of
Carlos Vignali, the Los Angeles drug kingpin, Davis told show host Tim
Russert that he never spoke with the family about the presidential pardon
Vignali received on Clinton's last day in office.
Davis said he did not have enough information to know whether the pardon was
a mistake, but, he said, "there's something about them in general that
doesn't ring right."
"However," he said, "people expect us to focus on things that matter to them,
and they really want to see progress on education, the environment, tax
relief, health care."
Asked by Russert whether he is going to run for president in 2004, Davis did
not rule it out but said that only re-election to the governorship in 2002 is
on his horizon.
"I'm focused on keeping the lights on and making our schools better," he
said.
E-mail Tanya Schevitz at tschevitz@sfchronicle.com.
,2001 San Francisco Chronicle ? Page?A1


A couple of other thoughts:

1.  Aggressively pursue litigation claims and manage litigation risks.
2.  Build contracts and legal infrastructure to support new businesses like
paper.
3.  Develop top talent in the firms to assist getting all our deals done.

Mark


Dear Alumni,

RBC Dain Rauscher Wessels is searching for an Institutional
Sales Associate for their firm.  Interested candidates
should respond to Joleen Luhmann.  Contact information is
listed below job description.

Thank you

--------------------------------------------
RBC DAIN RAUSCHER WESSELS

RBC Dain Rauscher Wessels is an international investment
banking and institutional brokerage firm that is focused
exclusively on growth companies within the consumer,
energy, financial services, healthcare, and technology
industry sectors.  We provide our corporate clients
outstanding corporate finance services, as well as strong
market sponsorship through frequent and timely research
publications and the maintenance of large, liquid markets.

With more than 400 employees, RBC Dain Rauscher Wessels has
offices in Austin, Atlanta, Boston, Dallas, Houston, Menlo
Park, New York, San Francisco, Paris, and Minneapolis,
where our firm is headquartered.  We also have a strategic
alliance with Tamir Fishman & Co., an Israeli firm based in
Tel Aviv.  Further expanding our organization's global
presence, is the recent alliance we have created with RBC
Dominion Securities, Royal Bank of Canada's (RBC) corporate
and investment-banking arm.  This alliance comes on the
heels of RBC's recent acquisition of Dain Rauscher
Incorporated, and provides our firm with unprecedented
opportunities for continued growth.

As an Institutional Sales Associate you will establish
relationships with institutional investors; participate in
presentations by company management in the underwriting
process; communicate daily with research analysts; and
generate and communicate investment ideas to portfolio
managers.

In selecting new associates, RBC Dain Rauscher Wessels
looks for individuals with an outstanding academic record
and demonstrated skills in finance and accounting. In
addition, personal integrity, entrepreneurial drive,
initiative, leadership qualities, strong oral and written
communication skills, and the ability to be a team player
in a fast paced and challenging environment are also
essential.

 Students should submit their resumes to me at:
	E-mail - 	jluhmann@dainrauscher.com
	Address -	Joleen Luhmann
			Dain Rauscher Wessels
			60 South 6th Street MS 46S2
			Minneapolis, MN  55402

______________________________________
MBA Career Management Center
The Anderson School at UCLA
Entrepreneurs Hall, C201
Phone: (310) 825-3325
Email: career.management.center@anderson.ucla.edu
Web: http://www.anderson.ucla.edu


I entrust that you will not forward to anyone.
-----Original Message-----
From: todd@mrienergy.com [mailto:todd@mrienergy.com]
Sent: Wednesday, November 07, 2001 2:27 PM
To: Mrha, Jean
Subject: FW: confidential Job Descriptions

jean:
it was nice to speak with you.
please find attached the job descriptions for the 2 positions that we have
been retained to work on for exelon.
if you have any ideas, i would be extremely interested in speaking with you
further.
i will await your reply and information.
best regards,

Best Regards,
Todd J. Goehring
Vice President, MRI Energy
1129 Broad Street, Suite 8
Shrewsbury, NJ  07702
tel: 732-578-0100 x105
fax: 732-578-1800
todd@mrienergy.com


Mike / Jeff - As a follow-up to our meeting last week, here's a summary of
our political risk insurance on the Gaza Project:

 Insurer: OPIC

 Insured: Enron Corp & Affiliates

 Amount: Aggregate of $60M may be claimed, sub-limited for separate coverages
as follows:

  (A) $22.5M - Expropriation (equal to the "Book Value" of Enron's investment)

  (B) $60M - Political Violence / War (excluding violence from labor strikes
or student unrest)

  (C) $10M - Currency Inconvertibilty / Non-transferability

 Term: 20 years from July 2000; policy is non-cancellable

 Rate on Line: 100 bps pa for coverage (A); 90 bps pa for (B); 36 bps pa for
(C)

 Certain deductibles, exclusions and waiting periods apply, according to
industry norms; in addition, if we were to   make any expropriation claim, or
a political violence claim where we were not going  to re-build the facility
with the   proceeds, we would have to deliver shares representing all or a
portion of our interest in the project to OPIC in order
 to receive  the claim payment.  This is a problem, because the project
shares have been pledged to the lender(s)   as part of the project financing
security package.

As to the status at the site, the immediate crisis seems to have abated.  No
expats are on site, but various sub-contractors are available to do work.
The problems is transporting material and equipment to the location.  We are
about two months behind schedule.

Cliff


Rob made some changes in the e-mail I sent last Friday.  He put the info
about the Assignment and Assumption Agreement in para. 2 and used more
defined terms from the ADA.

I think we can use the same A&A agreement to notify WestLB of our intent to
assign the P.O. and give notice as to the closing date.  However, the current
form of A&A agreement has sig. blocks for only ENA and WestLB.  Seems like
you need a sig. for the assuming party!  Particularly since that party is
purporting to give notice to WestLB of its intent to pay the purchase price!

Rose

To effectuate the movement of turbines out of the WestLB LM6000 structures
the following needs to take place:

1) ADA - Assignment of the Purchase Option.  On at least 5 (five) days notice
to WestLB, ENA will assign the Purchase Option for the subject equipment and
ancillary agreement to the purchasing entity.  This assignment (the
"Assignment")  must release the Lessor (WestLB)  from all its obligations
under the Turbine Purchase Agreement with respect to the subject equipment
and ancillary agreements.  This means that GE Packaged Power (a division of
GE) and other vendors must release WestLB from its obligations with respect
to the subject equipment and contracts.  (Kay - Could this be done by an
amendment to the scheduled equipment under the various agreements between
WestLB and the various vendors? Rose - I believe so, along with entering into
the new contracts reference in 3))

The assignment agreement to effect this is explained below and can be
prepared by Kay, Rose or Rob.

2) ADA - Closing of the Purchase Option.  WestLB requires at least 5 (five)
days written notice of the exercise of the purchase option and  this notice
can be included in the Assignment and Assumption Agreement.   The purchase
price for the subject equipment and agreements will be the "Termination
Amount" as defined in the ADA, as allocable to the subject equipment and
contracts.  This amount is equal to the sum of i) the aggregate outstanding
amount of the Advances, plus ii) any Transaction Expenses then due and owing.
plus iii) all accrued amounts due on any Lessor Yield or Facility Fee, plus
iv) any amounts owed for any costs reasonably incurred by the Lessor with
respect to the subject equipment and contracts.  The particular amounts of
the foregoing costs and fees allocable to the subject equipment and contracts
should be determined in coordination with Lisa Bills and Humberto Cubillos.

The Assignment and Assumption Agreement  used to consummate the Purchase
Option is attached as Exhibit G to the ADA and can be prepared by Kay, Rose
or Rob.  It needs to be executed by ENA, ENA's Designee as assignee and
WestLB.  A detailed list of the equipment and contracts being assigned must
be prepared by the assignee and attached to the assignment.

3) Assignment under the Turbine Purchase Agreement.  The Purchaser (WestLB)
under the Turbine Purchase Agreement (the "Turbine Contract") may assign a
portion of its rights and obligations under the Turbine Contract to an
affiliate of ENA without the Seller's consent.  Kay has structured the
Turbine Contract to allow the assignee to enter into separate purchase
agreements with GE Packaged Power for the equipment being assigned.   The
documents to transfer title of the equipment from WestLB (in the case of
equipment that is already fabricated) , or to replace ENA with another
business unit on the purchase agreement (in the case of WIP turbines) should
be prepared by the business unit attorneys involved in the transfer, based on
a form of contract which is very similiar to the Master Purchase Agreement.

 The tax specialists from both ENA and the acquiring business units should be
advised as to the planned date of title transfer.

 Same generally holds true for the ABB transformers, except that the
assignment to an Enron SPV may require a form of security.


I spoke with ABAG attorney Kenneth Moy and APS attorney Dan Douglas.
Neither was thrilled with the Wood/Barnett draw, but neither was immediately
warm to the notion of a negotiated continuance.  I outlined the arguments
against charging into the guns of Wood and Barnett, and reminded them that
there could very likely be delays anyway as a result of the CPUC's continued
indecision about the end of the rate freeze--which looks to be increasing as
a result of the Administration's deadlock with the utilities.  They both
indicated that they would discuss the matter with their clients and get back
to us shortly.  I suspect at least one of them will say "no we want to go
ahead even if you do not."  As soon as I hear from them, I will contact SCE
and PG&E.  Mike Day


How close did I get?

10.2 Effect of Force Majeure.  In the event of a Force Majeure event
affecting Seller,s ability to Deliver Scheduled Energy from the Facility, the
following shall occur:
(a) Seller shall as soon as reasonably practicable use commercially
reasonable efforts to fulfill its obligations to deliver Scheduled Energy
from Market Sources until notice is provided pursuant to Section 10.2(b)
below.  do we want to delete this?  Gary didn't seem to like it.
(b) Not later than ten (10) Days following the onset of the Force Majeure
event, Seller shall (i) issue a notice to Buyer stating whether Seller will
continue to fulfill its obligations to Buyer hereunder from Market Sources
until the Force Majeure event is terminated or (ii) declare Force Majeure and
relieve Buyer from its obligation to pay the Demand Charge during the time
that Seller is unable to meet its obligations hereunder, computed on a daily
basis.  If Buyer does not Schedule Energy during the ten (10) day evaluation
period and Seller declares Force Majuere, then  Buyer,s relief of the
obligation to pay the Demand Charge shall commence as of the date of the
Force Majeure event.
(c) If, during the ten (10) day evaluation period referenced above, Buyer
Schedules Energy and Seller continues to Deliver Energy, but then declares
Force Majeure, Buyer,s relief from the obligation to pay the Demand Charge
shall commence on the date of the declaration of Force Majeure and not on the
date of onset of the Force Majeure event.  If, during the ten (10) day
evaluation period Buyer Schedules Energy and Seller initially Delivers Energy
but subsequently fails to Deliver, Buyer shall be relieved of the obligation
to pay the Demand Charge from the date Seller fails to Deliver Energy, and
not on the date of onset of the Force Majeure event.  Such relief from the
Demand Charge shall be computed on a daily basis.
In the event of a Force Majeure affecting Buyer,s ability to receive Energy
from Seller, payment of the Demand Charge shall continue.
10.3 Termination Due to Force Majeure. If an event of Force Majeure continues
in effect for twelve (12) consecutive Months, then the Party not declaring
Force Majeure may terminate this Agreement upon providing written notice of
such termination to the other Party (but if such event of Force  Majeure
terminates before any such termination notice is provided, then this
Agreement shall continue in full force and effect).