FYI -

-----Original Message-----
From: djcustomclips@djinteractive.com
Sent: Thu 8/23/2001 11:38 AM
To: 168842@mailman.enron.com
Cc:
Subject: Rahil Jafry: Top Marketer Volumes Still Showing Tremendous Growth, NGI Says

Top Marketer Volumes Still Showing Tremendous Growth, NGI Says

08/23/2001
Business Wire
(Copyright (c) 2001, Business Wire)

  DULLES, Va.--(BUSINESS WIRE)--Aug. 23, 2001--North America's top 20 largest
natural gas marketers showed a greater than 20% increase in volume--up 31
Bcf/d--during the second quarter to 168.9 Bcf/d.

  Only Coral, PG&E, Williams and ExxonMobil reported slight decreases compared
to the second quarter of 2000, according to NGI's quarterly ranking of the
companies based on volume.
  "We're seeing a lot more electronic trading," said Ben Schlesinger of
Maryland-based Schlesinger & Associates in explaining the causes of the
continued growth. "EnronOnline is still seeing growth and so is ICE
(IntercontinentalExchange). I also think we are seeing a lot more financial
trading as well. There was plenty in the last year or two, but I think one
thing that has continued to change is the real upsurge in the kinds of risk
trading that these guys are offering. That's a movement that's likely to
continue in the both the gas and electricity markets."

  The largest volume and percentage increases among the top 20 were shown by
American Electric Power, BP, Mirant, El Paso, PanCanadian and Reliant. AEP
jumped from 18th in NGI's ranking in the second quarter 2000 to 10th in 2Q2001
with a 5.5 Bcf/d increase (179%). BP moved up to second place from fifth with
a 4.9 Bcf/d increase (66.2%).

  BP's second-place volumes, at 12.3 Bcf/d were only half of Enron's 25.3
Bcf/d. Mirant came in third with a 4.1 Bcf/d rise (53%)to 11.8 Bcf/d. Although
El Paso posted 51% volume growth (3.1 Bcf/d), it was pushed down by several
other rapidly growing companies to the 9th place from No. 2.

  Filling in the top 10 were Reliant in fourth place, Duke in fifth, Dynegy
sixth, Aquila seventh and Sempra eighth, according to NGI's tally.

  "Volumes aren't perfect, but they are the best and most clear thing that we
have in terms of gauging the size of these business," Credit Suisse First
Boston Analyst Curt Launer told Natural Gas Intelligence. "That growth you are
seeing is going to continue. This is an industry which really is only reaching
one third of the market that is out there for it. If you total all of the
things that these companies are doing right now, they really are only
addressing about $100 billion worth of what is really a north of $300 billion
U.S. energy market. There's probably three to five years worth left of
excellent growth because you are going to have a tripling of the market that
these companies address over the next several years before you and I have to
have a conversation about who has a better business model or who really can
gain market share and is doing things better than anyone else."

  To read the complete marketer rankings and other industry information and
prices, please sign up for a free trial at <http://intelligencepress.com/> . You
will have four weeks free access to Natural Gas Intelligence, NGI's Daily Gas
Price Index and NGI's Power Market Today, with price data, news archive
searching and graphing capabilities.

CONTACT: Natural Gas Intelligence
             Cathleen Behan, 703/318-8848

11:27 EDT   AUGUST 23, 2001

Folder Name: Rahil Jafry
Relevance Score on Scale of 100: 82

______________________________________________________________________

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

Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved


An outstanding year!

2000, of course. It was extraordinary, by any measure.

How many years can you name that start with a great hoax -- Y2K -- and end
with a monumental hoot -- the world's greatest democracy can't get the hang
of how to elect a President?

We're not the only mad conspiratorialist to divine that the Y2K scare was the
brilliant handiwork of a cabal of top computer makers intent on sparking
sales -- and what a wildly successful scheme it was.

Few, however, are privy to the knowledge that the massive snafu of election
2000 was no improbable statistical fluke but the Machiavellian contrivance of
Ross Perot exacting revenge for being denied his usual place on the ballot.
Besides, it finally occurred to Ross that he wasn't going to be President,
and that made him as mad as a plucked rooster: If he wasn't going to be
President, by gum, nobody was going to be President!

Even though election 2000 demonstrated a small defect -- an inability to pick
a winner (but remember, nothing's perfect) -- it did put to rest some nasty
aspersions that have long been cast on the workings of this blessed republic.
Most particularly, it buried once and for all the cynical notion that money
can buy the Presidency. Both parties spent hundreds of millions of dollars
trying to do just that -- and came up empty.

So let's not hear any more nonsense about the Presidency being for sale. It's
now quite clear that the Presidency can't be bought; conceivably, though, it
can be stolen.

What remains to be determined is which of the pretenders can pull off the
theft. Mr. Bush would seem to enjoy a congenital advantage, since the
governor of the state whose votes ultimately will prove decisive is his baby
brother.

On the other hand, Al Gore has the overwhelming support and counsel of the
trial lawyers. Trial lawyers, after all, make a profession of knowing how to
get away with murder. So they should find figuring out how to snatch the
Presidency mere child's play.

Not the least remarkable thing about this most remarkable year is that the
Supreme Court seemingly has abandoned its long tradition of following the
election returns in favor of helping to shape them. The good part is that
there are nine of them-seven mostly old men and two women of a certain
age-assuring a majority ruling, unless one recuses himself because he simply
can't stand Florida.

Only in America in the year 2000.

-- As you're undoubtedly and possibly painfully aware, 2000 is already
memorable in Wall Street as the year the air began to whoosh out of the
monster stock-market bubble and, after many a frustrating try, the year the
bears finally ate Goldilocks.

In fact, unless such portents as mounting claims for unemployment insurance
and the latest downbeat readings on business from the purchasing managers are
completely misleading, 2000 will go down as the beginning of the end of the
most salutary and long-lived economic boom to grace this nation (and probably
any other).

These are, admittedly, negative distinctions. But if you're a year and want
to be famous, you can't be picky: No one harks back to 1929 because it was a
great year for butterflies.

Nasdaq unarguably has turned in a once-in-a-lifetime performance this year.
Never before has a stock-market index caused as much pain in so short a time
as did Nasdaq in its breathtaking (and wealth-evaporating) 50% drop from its
March high to its close last Thursday. What's more, it has a full month to
better (worsen?) that fantastic feat.

Nor does the plunge in the index -- formidable as it is -- do full justice to
the awesome decline. A much more graphic picture is painted by the slides in
individual issues. Here, we're indebted to a sometime correspondent named
Howard Boyet, who sent us a list of 90 of the most gruesome casualties. Alas,
space -- and solicitude for those readers of an especially delicate
disposition -- prevent us from listing the entire wretched roster. But a
sampling will give you the flavor.

For instance, Foundry Networks, which peaked at 212, was last seen at around
41. Harmonic has fallen from 158 to 7-plus. Internet Capital from 212 to 6.
FreeMarkets, from 370 to 29.50 (not quite free yet, but it's getting there).
VA Linux, from 320 to 8. Red Hat, 151 to 6. Inktomi, 241 to 24. DoubleClick,
135 to 13. Akamai, 346 to 27. Next Level, 202 to 11 (we dread to contemplate
the stock's next level). MicroStrategy, 333 to 12 (might be something wrong
with the strategy). Ask Jeeves, 144 to 10 (if it's all the same, we'd rather
not ask him). And on and drearily on.

So if you own stocks like Dell Computer (60 to 18) or Gateway (81 to 19) or
Texas Instruments (100 to 37) or Oracle (46 to 26), you can take some comfort
in the knowledge that you could have owned any of the above or the likes of
Razorfish (57 to 3), Novell (44 to 6) or Covad (67 to 2).

These exercises are now commonplace, and journalistically, we suppose,
they're the equivalent of a circus freak show. But they do, as Mr. Boyet
suggests, provide a more vivid and even more accurate description of the
damage wrought.

What we've found most intriguing is that, until now, all this blood in the
Street has evoked very little public outcry. We've experienced a kind of
cruel and vast but silent mugging. Magazines like Time and Newsweek haven't
done their usual heavy-breathing treatments, nor have most newspapers,
including the New York Times, made a front-page fuss about the decline and
fall of Nasdaq. Nor are the networks running their usual inane specials.

Moreover, until quite recently, mutual-fund shareholders have placidly
watched their wealth withering. No crowds gathering in front of fund
headquarters and, more tellingly, no rush to redeem their holdings.

There are several possible explanations for this rather astonishing
diffidence on the part of the financially wounded and the absence of hysteria
in the press, both the electronic version and the genuine item. The
distraction of the election that never ends. The fact that most everyone who
wants one still has a job and a relatively high comfort level. Whatever the
cause or combination of causes, that we're in a bear market, and a vicious
one, doesn't seem to have sunk in yet.

Until it does and until fear stalks the Street and an ugly grizzly makes the
cover of Time, if you run into anyone claiming to espy a bottom, take him
firmly by the hand and guide him to the nearest ophthalmologist.

-- That chart adorning this page depicts another reason why there's lots of
room still on the downside. (See accompanying illustration -- Barron's Dec.
4, 2000) It comes to us courtesy of George Gilman, the savvy and talented
producer of the Business Picture, a wonderful quarterly compilation of charts
and info on the economy and the markets.

The last official number for the Nasdaq P/E, he reports, was 139.1 for
October, but he reckons the figure fell to somewhere around 107 by the end of
November.

As George comments: "Even after the 48.5% decline from the March 10 peak of
5048.62 to Thursday's close of 2597.93, the P/E on Nasdaq is incredibly high."

And that's the point. The multiple wouldn't be cheap at half its current
level. Nor would it shock us if, eventually, Nasdaq and its P/E fell another
50%.

-- While we're convinced we're in the early stages of a secular bear market,
we know there'll be blips in this descent just as there were dips in the late
great bull market.

In truth, we're surprised we haven't had a halfway decent rebound yet.
Certainly, we're overdue for one. Consider this a heads-up on what might
trigger a bounce (apart from a miraculous resolution to the election snarl).

Next Tuesday, Alan Greenspan is slated to deliver the keynote address to a
gathering of commmunity bankers in New York City (which is not overrun by
community banks but is a great place to visit). We haven't a clue as to what
he intends to say, and it might well be nothing intelligible.

But should Mr. G make a sly reference to the economy and monetary policy and
hint that maybe the Fed is poised to shift from tight to neutralthat just
could rouse spirits in Wall Street enough to ignite a fairly brisk -- if
relatively brief -- move up.

-- John Liscio died last week. John was our colleague at Barron's for roughly
a half-dozen years in the late 'Eighties and early 'Nineties, and not a day
went by that he didn't light up the place.

He was vibrant and funny, outrageous and irreverent, extraordinarily
intelligent. He was brash and tough and had an insatiable appetite for
mischief. Yet he was also warmly affectionate, shirt-off-his-back generous
and, oddly, possessed of a touching ingenuousness.

John had an expansive mind that ranged restlessly and relentlessly over just
about every subject known to literate and inquiring man and a few that only
his special imagination provided entry to. He was a baseball nut, a
cantankerous pitcher for and captain of Barron's softball team and a demon
participant in the Fantasy League, where grown men play at being
owner-managers of major-league teams. In fact, he was the commissioner of his
league (in which role, we can only surmise, he visited great anguish on his
fellow Fantasy Leaguers).

As a writer, John was exceptional. He brought to economics and markets a
knowledge not only of those murky subjects but also of the wide world; a
gifted and fluent pen and a sense of humor that could be -- inevitably was --
deliciously wicked. He would leap with positive glee on some unfortunate with
a tempting name. There was a chap named LaWare at the Fed, for example, whom
John inevitably and with some purpose called UnaWare. Morgan Stanley
economist Stephen Roach was rarely mentioned by John but as the proprietor of
the Roach Motel, where the facts check in but don't check out.

He was a brilliant journalist, both at Barron's and at U.S. News, and,
against all advice and odds, launched an economic newsletter, the Liscio
Report, which became a roaring success. The reason was simply that John had
more wit in one pinky and more insight in the other than any dozen economists.

John, who was spunk personified, showed unbelievable courage as he battled
his last illness. When we visited him in his hospital room and told him
joshingly he looked like hell, he grinned that indomitable grin of his and
launched into a couple of hours of dissertation on the state of the world,
excitedly detailing his plans for the future.

He was the most indomitable person we've ever met. All of us here at Barron's
and, for that matter, anyone lucky enough to have known him, will miss him
terribly.


Please get a $ amount from Deffner's group on the collateral cost issue.  Given the shape of the loan, Enron will have to post significant collateral on the 03 & 04 positions, and I need a PV cost associated with collateral requirements of this loan package.  Please talk with Bradford with respect to credit $'s.

 -----Original Message-----
From: 	Bradford, William S.
Sent:	Monday, July 02, 2001 11:19 AM
To:	Presto, Kevin M.
Cc:	Deffner, Joseph
Subject:	RE: Duke deal

Kevin,

This is really not a credit issue.  Since the position will be balanced, our exposure is really only the MTM on the position which will grow negative as they fund us.  Therefore there should be no credit reserve charge except for the MTM gains.  I will need a valuation model to calculate.

Posting collateral is somewhat more troubling given our current margin postion ($350mm to Duke). You should talk with Joe Deffner regarding the impact on our liquidity and the proper funding rate for Enron's balance sheet.  I thought the number was 15% but that's Joe's call.

Bill

 -----Original Message-----
From: 	Presto, Kevin M.
Sent:	Friday, June 29, 2001 5:43 PM
To:	Bradford, William S.
Subject:	Duke deal

Duke has indicated that the cannot complete the proposed commodity/loan transaction with my proposed collateral threshold exemption.   They have indicated that creates "accounting issues" for there accrual book.

Therefore, I need to know the cost of credit to assign to the proposed cash flows.  In rough numbers, we receive $200 million in the first two years and return $250 million in the last two years.

Because of this, in years 03 and 04, our collateral posting will be significant.

Let me know your thoughts ASAP on Monday morning.


i do not manage an eol stack.

From: Mike Hernandez/ENRON@enronXgate on 01/23/2001 10:37 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: RE: Migration to Windows 2000

The connection to EOL or other web applications will be as fast as it is now,
as this is solely dependent on your network hardware (cables, network card,
etc.)  The mgiration to Windows 2000 will not impact this in any way.  One
thing I need to verify though, do you use Stack Manager with EOL?  I did not
see any instances of it on your machine, but I just want to double-check, as
this program will not work under Windows 2000.

Thanks

-Mike

 -----Original Message-----
From:  Shankman, Jeffrey
Sent: Tuesday, January 23, 2001 10:26 AM
To: Hernandez, Mike
Subject: Re: Migration to Windows 2000

i'm ready to go.  however, will this new system give a slower connect to eol,
etc?

From: Mike Hernandez/ENRON@enronXgate on 01/23/2001 10:00 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Jennifer Burns/HOU/ECT@ECT
Subject: Migration to Windows 2000

Jeff:

 During my assessment of your machine, I noted your current hardware
configuration:
SP750 with Dual 800Mhz PIII processors
512MB RAM
Matrox Quad video card

We currently do not have hardware in stock that matches these
specifications.  Our current practice is to prepare a machine that is like or
better than the machine the customer has currently, then swap that hardware.
The benefits here are minimal downtime and the ability to switch back to the
old machine quickly if an application does not work correctly in Windows
2000.  Because we do not have a machine of equal or greater speed in stock,
here is what I propose:

Every machine we migrate is Ghosted.  By this, I mean we run a program called
Ghost which takes a snapshot of the machine in its current state.  This image
can then be put back on the machine or accessed to retrieve files or other
data.  I propose we Ghost your existing machine, make a backup copy of that
image (after verifying it works correctly), then re-use your current hardware
with Windows 2000.  The risk here is that we cannot go back to Windows NT
(your current system) as quickly if something does not work.

If you would like to move ahead with this plan, please let me know.
Otherwise, we will order a machine with the same specifications, but it will
take some time to get here.

I look forward to hearing from you.

Regards,

-Mike Hernandez
Project GEM
(713)853-7740


Hi Guys,

Is the 501D in storage?  If not, when will it be delivered?  I'm asking in
connection with information to be provided in the CPCN process.

Thanks,

Kay


Haas CEO Exchange Tickets Available Now

Starting today, tickets are available for the CEO Exchange with HP's Carly
Fiorina and Cisco's CEO John Chambers on April 11 at Zellerbach Hall.? Please
pick up your ticket at the desk of the Evening MBA Program Office this week
(one ticket per student please).

The Show:
CEO Exchange takes place on Wednesday, April 11, at Zellerbach Hall. Seating
begins at 5:30 p.m. (doors close at 5:45 p.m.; no seating is allowed after
taping has begun). The show will be introduced by Dean Laura Tyson and
moderated by CNN,s Jeff Greenfield. It will air on PBS stations on or after
October 1, 2002.

You will have the opportunity to ask questions of the CEOs toward the end of
the show. Both your questions and the answers will be recorded on camera. You
will be part of a television audience, so please look your best (business
casual or business wear please).

The Raffle:
The show at Zellerbach concludes with a raffle of two Pen Cams (a PC camera,
a digital camera, and a digital camcorder in one -- courtesy of AT Kearney)
and Haas Gear. Please make sure that an usher takes your ticket stub before
the show and hold on to your tickets for the raffle.

The Reception:
Please join Dean Tyson, the speakers, Jeff Greenfield, and the CEO of AT
Kearney, Dietmar Ostermann, at a catered reception at the Club Room of the
new Haas Pavilion following the show. The Haas Pavilion is the new stadium
just west of Zellerbach Hall.

The event is free and open to all Haas students. However you will need a
ticket for admission to the show and to the reception.

Location:
Zellerbach Hall is located near Bancroft Way and Telegraph Avenue, a
five-minute walk from Haas. Parking will be tight just before the show, so
please leave your cars at Haas, if you can, or use other forms of
transportation. For more information on CEO Exchange, go to
http://haas.berkeley.edu/groups/pubs/news/articles/CEOexchange41101.html.

This event is organized by the Haas School's Marketing & Communications
Office. AT Kearney is the exclusive sponsor of the show.

We'll see you there.
Ute Frey

________________________________________________________________

Ute S. Frey
Associate Director
Marketing & Communications
Haas School of Business?????????
University of California????????
Berkeley, CA 94720-1900?????????
Phone 1-510-642-0342
Fax 1-510-642-4700
http://www.haas.berkeley.edu


Aurora, my changes appear on the attached.
I assume you or AA have updated the numbers for eligible transition costs
(second paragraph of section 7).  (If you have not, I'm really not sure who
would have those numbers)
I updated the numbers for environmental costs in the footnotes.  Please call
(x30596) if you have any questions.


Jeff, give me a call about what you heard in response, and parties plans for comments tomorrow.

-----Original Message-----
From: Dasovich, Jeff [<mailto:Jeff.Dasovich@ENRON.com>]
Sent: Wednesday, October 17, 2001 8:45 AM
To: alexanms@sce.com; craigc@calpine.com; ewo@jmbm.com;
llorenz@socalgas.com; rmp@cpuc.ca.gov; jleslie@luce.com;
paulamirault@aec.ca; mday@gmssr.com; porterdk@sce.com; burkee@cts.com;
kmccrea@sablaw.com; tomb@crossborderenergy.com
Subject: The Gas Settlement that Wouldn't Die

Folks:
Before filing comments on Bilas' proposal to modify our settlement with
SoCal and vote it out on the 25th, I wanted to get a sense of how folks
feel about it generally.  Hope all is well.

Best,
Jeff

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.

**********************************************************************


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/06/2000 08:35
AM ---------------------------

12/06/2000 08:06 AM
Shelby Malkemes
Shelby Malkemes
Shelby Malkemes
12/06/2000 08:06 AM
12/06/2000 08:06 AM
To: Ben Jacoby/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Kay
Mann/Corp/Enron@Enron, Rebecca Walker/NA/Enron@Enron
cc:

Subject: GE Mtg.

Please note that there will be a GE meeting with Lee Johnson this afternoon
as follows:

Date:  December 6, 2000
Time:  2:30pm CST
Place:  EB2934
Re:  GE

Should you have any questions / conflicts please feel free to call.

Thanks,
Shelby Malkemes
3-9842


John,

The attached Florida overview is a few months old.  Chris and Jared on
working on an update.   We will get
it to you when complete.

---------------------- Forwarded by Scott Neal/HOU/ECT on 03/08/2001 02:04 PM
---------------------------

Chris Gaskill@ENRON
03/07/2001 12:22 PM
To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Florida Market Overview


Attached below is the updated copy of the eCommerce Commercial and
Origination Activities Contact List.  Please let me know if you have any
additional changes to the list.

Thank you.

Mike McConnell


FYI.

Today, the PG&E Corporation Board of Directors elected Dede Hapner,
currently Vice President -Regulatory Relations of Pacific Gas and Electric
Company, as Vice President - Special Projects, for PG&E Corporation,
effectively immediately.  Dede will report to Steve Kline and will be
located in the PG&E Corporation Washington D.C. office.  Karen Tomcala,
currently Director, Federal Governmental and Regulatory Relations of PG&E
Corporation, was elected today by the Pacific Gas and Electric Company Board
to replace Dede.


I don't know what you're talking about..... that was a duck call........


I'm coming up on the 8th for the ceremony.... I got the air tickets
yesterday.... I am arriving in Baltimore at noon and driving down to DC......
I need directions from BWI to the air base I guess.   As far as
accomidations,,, just let me know????

giddy up!

MC


EDDIE BAUER
FALL SALE
Our look is new, but the sale  is almost over. Shop now through
October 31 and save on the best of the season.
Goose Down Sale
Get a head start on the cold and save on everything Down . Plus, buy
one pillow  and get the second at 50% off!
Mix & Match Sleepwear
Visit our one-stop shop  for sleepy-time and pair your favorite tops,
bottoms and slippers.
If you'd rather not receive Eddie Bauer Email, please reply to this
message and type the word "unsubscribe" in the subject line. Or, use
the following link: http://eb.m0.net/m/u/edb/e.asp?e=michelle.cash%40enron.com


Is contract 62164 a valid contract on CGAS?  It was highlighted in red in the
2000ces02.xls sheet.  I updated the info based on what I see in Navigator and
highlighted it in yellow.  And, if this is a valid deal, we need to add it to
Sitara.


----- Forwarded by David M Gagliardi/TTG/HouInd on 05/29/01 08:46 AM -----

                    "Michael
                    Gagliardi"           To:     <dgagliardi@reliantenergy.com>, david_ricks@gsdm.com,
                    <mikegag@msn.        tony.a.rogers@fritolay.com
                    com>                 cc:
                                         Subject:     Fw: True Orange E-Mail/Fax #53
                    05/26/01
                    08:09 PM

 ----- Original Message -----
 From: TruOrange@aol.com
 Sent: Friday, May 25, 2001 10:48 PM
 To: TruOrange@aol.com; judy.roach@bakerbotts.com
 Subject: True Orange E-Mail/Fax #53

 True Orange E-Mail/Fax Service
 Volume 9, Fax/E-Mail #53, Friday, May 25, 2001
 Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
 Phone
 512-795-8536

 Horns Upset Long Beach in NCAA Baseball; Football Camps Start Soon

 No. 3 seed Texas (35-24) upset No. 2 seed Long Beach State (35-22), 11-2,
 Friday in the first round of the NCAA baseball regional at Stanford.
 The Longhorns will play in the winner's bracket finals of the
 double-elimination tournament at 5 p.m. Saturday, probably against
 top-seeded
 Stanford, which was playing No. 4 seed Marist in the second game Friday.
 Gerrit Simpson tossed his sixth complete game to lead the Longhorns to
 victory. He struck out 12 and allowed nine hits.
 Texas scored twice in the fourth and picked up five more runs in the fifth
 to
 take a 7-0 lead and coast to the win. Jeff Ontiveros had a two-run homer
 for
 Texas and Sam Anderson had three hits, three runs batted in and two runs
 scored.
 If the Horns win their 5 p.m. game Saturday, they will need only one more
 v
 ictory to win the sub-regional. But, if they lose, they will have to play
 again Saturday night in an elimination game to try to get another shot at
 the
 undefeated team Sunday. The team that emerges from the loser's bracket
 would
 have to beat the winner's bracket champion twice Sunday to advance.
 * * * *
 The Longhorns start their summer football camps a week from Saturday, and
 some of the top players in the state and in the nation plan to attend.
 DT Lyle Sendlein of Scottsdale, Arizona, and FB-LB Brandon Hancock of
 Clovis
 West, Cal., head the out-of-state prospects who plan to come to the UT
 camps.
 Sendlein told me he probably will commit to Texas after the June 3 camp,
 and
 Hancock says he is very interested in Texas, but probably won't commit to
 anyone prior to the football season.
 Sendlein is the top prospect in Arizona and Hancock is one of the top
 recruits in California after dazzling everyone at a Nike camp in his home
 state. He checked in at 6-1, 242, then ran a 4.49 40, had a vertical leap
 of
 39 inches and bench pressed 185 pounds 43 times. Hancock said he will come
 to
 the UT camp that starts on June 10.
 Top Texas players who plan to come to one of the UT camps include QBs Paul

 Thompson of Leander and Jamie Beeghley of Midland Christian, WR-TE David
 Thomas of Wollforth Frenship, OLs Jeff Lebby of Andrews and Tony Ugoh of
 Spring Westfield, DEs Travis Leitko of The Woodlands and Nick Owino of
 Alief
 Elsik, DT Earl Anderson of San  Marcos, LBs Marvin Byrdsong of Longview,
 Garnett Smith of Arlington  Lamar and Andy Matakis of Corpus Christi Flour

 Bluff, CB Donald Burgs of Houston Madison and RB-Athlete Paul Mosley of
 Austin Anderson.
 The state's top RB, Albert Hardy of Galena Park, says he hasn't decided
 whether to attend a summer camp, but don't be too surprised if he shows up

 for one of the UT mini-camps.
 Texas still has just one commitment ? fine OL Bret Valdez of Brownwood ?
 but
 the Longhorns will pick up several more in June. That's when the Texas
 coaches always jump start their recruiting and pick up eight or 10
 pledges.
 * * * *
 An internet site calling itself  Collegefootballnews.com has picked Texas
 to
 go 11-0 during the regular season and beat Nebraska in the Big 12
 Championship Game.
 I liked that part of it, but then it picked Oklahoma to have the best
 defensive line and Texas to have the best linebackers in the Big 12. Texas

 will have a better defensive line than Oklahoma, and I know OU and several

 other Big 12 teams have better linebackers than Texas, so that doesn't do
 a
 lot for the site's credibility.
 The Texas coaches are proud of their defensive line and secondary, but
 they
 worry a lot about their linebackers.
 The site also rated UT No. 1 at quarterback, wide receiver, offensive line

 and defensive secondary  in the Big 12.
 * * * *
 My next e-mail/fax will be whenever events warrant.
 * * * *
 The True Orange E-Mail/Fax Service includes  at  least  99 fax/e-mails  a
 year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
 26
 newsletters and is published weekly during football season and twice
 monthly
 during most of the other months. It costs $45. Save by subscribing to both

 for $130 (or $110 if you take the faxes via E-Mail  or $99 if you take the

 faxes and newsletter  via E-Mail). Send check  to address at the top of
 page.
 I also  update my 900 number ? 1-900-288-8839 ? frequently with recruiting

 news. My E-Mail address is: truorange@aol.com

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


The Payment status has changed on the following report:

Status last changed by:  System
Expense Report Name: MW112801
Report Total: $127.42
Amount Due Employee: $127.42
Amount Approved: $127.42
Amount Paid: $254.84
Approval Status: Approved
Payment Status: Paid

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


Michael and Deepak:  Attached are the execution copies of the documents
signed with ENA.  If I have missed anything, please contact Susan Flynn (as
Marie Heard is now with EBS).  Thanks.  Sara


Hello everyone.

In December we decided to kill our planned offsite due to market volatility.
Louise and I would like to get everyone together offsite, probably in late
June (once Louise is back from holiday (just kidding)).  I think it's time to
go have a little fun with the group driving Enron's success.

I would like suggestions as to:

1)  Where to go.

2)  What should be the focus of the business meetings.

3)  Should we have business meetings or should we do something else (ie.
climb a mountain)?  I'm not a strong bid on climbing a mountain.

4)  And any other ideas you have.

In addition I would like to start having staff meetings about once a month.
The first one will be Friday May 11th at 2:30 p.m.  Please add this to your
schedule.  I have invited everyone who has P/L responsibility.  Portland,
Calgary and Toronto will have to be on Video or Phone conference.

Regards

John


This request has been pending your approval for  11 days.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000080512&Page=Approval to review and act upon this request.

Request ID          : 000000000080512
Request Create Date : 1/7/02 5:01:54 PM
Requested For       : stephen.benchluch@enron.com
Resource Name       : Market Data Kobra Power
Resource Type       : Applications


HERNANDEZ, JUAN R,
?
You have been selected to participate in the Mid Year 2001 Performance
Management process.  Your feedback plays an important role in the process,
and your participation is critical to the success of Enron's Performance
Management goals.
?
To complete a request for feedback, access PEP at http://pep.enron.com and
select Complete Feedback from the Main Menu.  You may begin providing
feedback immediately and are requested to have all feedback forms completed
by Friday, May 25, 2001.
?
If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:
Houston:  1.713.853.4777, Option 4 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@enron.com
?
Thank you for your participation in this important process.
?
The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."  Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.  NOTE: YOU WILL
RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.
?
Employee Name:
ACEVEDO, RODOLFO
GARCIA, MIGUEL
LAURENT, MARK
PODURGIEL, LAURA


----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:22 PM -----

	James D Steffes
	02/26/2001 08:52 AM

		 To: Alan Comnes/PDX/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Christian
Yoder/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Cynthia
Sandherr/Corp/Enron@ENRON, Dan Leff/HOU/EES@EES, David W
Delainey/HOU/ECT@ECT, Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES,
Elizabeth Sager/HOU/ECT@ECT, Elizabeth Tilney/HOU/EES@EES, Eric
Thode/Corp/Enron@ENRON, Gordon Savage/HOU/EES@EES, Greg Wolfe/HOU/ECT@ECT,
Harry Kingerski/NA/Enron@Enron, Jubran Whalan/HOU/EES@EES, Jeff
Dasovich/NA/Enron@Enron, Jeffrey T Hodge/HOU/ECT@ECT, Joe
Hartsoe/Corp/Enron@ENRON, John J Lavorato/Corp/Enron@Enron, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathryn
Corbally/Corp/Enron@ENRON, Keith Holst/HOU/ECT@ect, Kristin
Walsh/HOU/ECT@ECT, Leslie Lawner/NA/Enron@Enron, Linda
Robertson/NA/Enron@ENRON, Louise Kitchen/HOU/ECT@ECT, Marcia A
Linton/NA/Enron@Enron, Mary Schoen/NA/Enron@Enron, mday@gmssr.com, Mark
Palmer/Corp/Enron@ENRON, Marty Sunde/HOU/EES@EES, Mary Hain/HOU/ECT@ECT,
Michael Tribolet/Corp/Enron@Enron, Mike D Smith/HOU/EES@EES, Mike
Grigsby/HOU/ECT@ECT, Neil Bresnan/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT,
Phillip K Allen/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Rebecca W
Cantrell/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Rob Bradley/Corp/Enron@ENRON, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert Frank/NA/Enron@Enron,
Robert Frank/NA/Enron@Enron, Robert Johnston/HOU/ECT@ECT, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandra
McCubbin/NA/Enron@Enron, Scott Stoness/HOU/EES@EES, Shelley
Corman/Enron@EnronXGate, Steve C Hall/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT,
Steven J Kean/NA/Enron@Enron, Susan J Mara/NA/Enron, Tim Belden/HOU/ECT@ECT,
Tom Briggs/NA/Enron@Enron, Travis McCullough/HOU/ECT@ECT, Vance
Meyer/NA/Enron@ENRON, Vicki Sharp/HOU/EES@EES, Wendy Conwell/NA/Enron@ENRON,
William S Bradford/HOU/ECT@ECT
		 cc:
		 Subject: CA Supply Realities

For those that have not seen this analysis, attached please find a note from
Mary Schoen detailing the serious physical shortage problems that may occur
this Summer in CA.

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/26/2001 08:51 AM -----

	Mary Schoen
	02/22/2001 02:55 PM

		 To: Neil Bresnan/HOU/EES@EES, Alan Comnes/PDX/ECT@ECT, Jubran
Whalan/HOU/EES@EES, Kristin Walsh/HOU/ECT@ECT, Clayton Seigle/HOU/ECT@ECT,
Jeffrey Keeler/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Janel
Guerrero/Corp/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Paul Kaufman/PDX/ECT@ECT
		 cc:
		 Subject: CA Supply Realities

Attached is a memo comparing the CEC's forecasted supply and a more realistic
look at what additional resources might be available this summer.

The bottom line is that:

1.  The CEC significantly underestimates the outages that may occur this
summer.  They estimate in their 5,000 MW supply deficit for the summer that
expected outages will be around 3,000MW.  However, November and December saw
significantly higher outage levels.  (7,265 MWs) The FERC has investigated
these outages and found no improprieties- just that the plants are overtaxed
from running at higher than normal capacities.

2.  There are a lot of uncertainties surrounding the 1,244 MWs of projected
supply from rerating/restarting existing thermal and renewable projects.  It
is very unclear how much of this will be able to come on line by this summer,
if at all.  As evidenced by the e-mail I sent out this morning, local
communities may be very opposed to restarting shut down units.  In addition,
these units are likely to be uneconomical.

3.  In the existing resource pool, there are roughly 1,430 MWs of peaking or
other generation units that are running up against their operating hour
limitations from air quality regulations.  The Governor has ordered the local
air quality districts to address these restrictions,  We are beginning to
seem some movement; however, the US EPA has yet to weigh in on these relaxed
standards.

4.  The distributed generation/back-up generation capacity to make up some of
the shortfall is still an unknown.  While there has been some relaxing of the
limitations on run hours for back-up generation at "essential public
services" the increase in DG is expected from "clean" sources, not diesel
emergency generators.

5.  The CEC is doing everything it can to get 50+ MW peaking units on-line by
this summer.  They are promising a 21-day permit application approval process
and are offering to pay half of the cost of offsets, for "clean" sources of
generation in critical areas.

Please let me know if you have any questions or need additional information.

CEC's Summer Forecasted Peak Demand - Resource Balance:

List of Peakers running into their operating hour limitations:

Also available in hard copy format only:
(please e-mail me your fax number if you'd like a copy)

Table 1:  Fully Executed CA ISO Summer Reliability Agreements (the ISO
Peaking Facilities)
Table 2:  Summer 2001 Supply Options - Renewables Construction Status Summary
Table 3:  Summer 2001 Supply Options - Rerate of Non-CEC Projects
Table 4:  Summer 2001 Supply Options - CEC Rerate Status Summary
Table 5:  Idle Biomass Plants Potentially Capable of Restart
Mary Schoen
Environmental Strategies
Enron Corp
713-345-7422


The monthly "New Generation in WSCC" report for October is complete.  The method of distribution for this report has changed and the reports will no longer be distributed electronically.  To receive a hard copy of the report, please send me your name, location, and the name of your administrative assistant (If you have not already done so).  As always, please report any errors / inaccuracies to me as soon as possible.  Thanks,

James Bruce
Enron North America		(503) 464-8122
West Power Desk		(503) 860-8612 (c)
121 SW Salmon, 3WTC0306	(503) 464-3740 (fax)
Portland, OR 97204		James.Bruce@Enron.com


call me on my cell 713 304 8716


Are we really going to stay at the shithole hotel in Vegas or are you going
to get rooms at the Bellagio?


It is Father's Day and we will do what you want. If you want to go there,
that's great.  I'm happy to tell Tom, his wife and all the world that what we
do that weekend is 100% up to you.

It sounds like he has the impression that I'm the hold up.

Kay

"Neil Mann" <nmann@erac.com> on 06/06/2001 08:05:01 AM
Please respond to <nmann@erac.com>
To: "C. Kay Mann \(E-mail\)" <Kay.Mann@Enron.com>
cc:

Subject: FW: (no subject)

This is for the Father's Day week. I told Tom you were probably going to NY
for a business trip. I don't see any way around not giving him the home
number.

-----Original Message-----
From: Tom Vandivier [mailto:tomvandivier@ev1.net]
Sent: Tuesday, June 05, 2001 5:45 PM
To: Neil Mann
Subject: (no subject)

Hi Neil;
Tried to get your number at home so Sonja could call Kay to reinforce the
invite to come to the ranch.  It seems to be unlisted.  If you will send me
the number I will turn Sonja loose on her.
Tom


Hi,

	 	The power options trading desk is beginning to structure deals and to make markets in spark spread options ( options on the spreads between power prices and natural gas prices).  Please refer to the attached file for further information.

 	   	It would be most helpful to meet with the relevant individuals  on the Gas desk  who would be interested in spark spread options.

	 	 Thank you in advance for your assistance.

Kind regards,
Iris Mack, MBA/PhD
Enron Power Options Trading Desk
x3-6711


The following is the email I sent Aaron last week.  I called him this morning to confirm if this was accurate.  He's meeting later today with Mary Joyce and said he'll get back to me.  I did not inquire specifically about NuTech--I assume Michelle is doing that.

Teresa

Aaron:

Based on our conversations, it is my understanding that the compensation committee has asked to review compensation plans for our affiliates if we own approximately 50% or more of the company.  The determination of exactly which plans must go to the committee will be made by Mary Joyce upon receipt of a bullet point presentation of the key terms of the plan.  The committee would likely review any compensation plan pursuant to which (i) employees receive equity interests without making capital contributions in cash or other property with reasonably equivalent value to the equity interests, (ii) employees receive equity interests prior to Enron recovering its investment, or (iii) employees are to be offered employment agreements with terms that are not within "Enron norms."  In addition, all significant terms of the compensation plan are to be disclosed in the DASH.

Do I understand this all corrrectly?  Is there anything I have omitted?

If the committee meets only quarterly, timing could certainly be an issue in some transactions.  If that is the case, can special meetings be called?

Teresa

 -----Original Message-----
From: 	Corbet, Nancy
Sent:	Monday, October 22, 2001 10:36 AM
To:	Cash, Michelle
Cc:	Bushman, Teresa G.
Subject:	Board compensation approval NuTech

Last week Teresa was waiting to hear back from Aaron (sp) regarding the threshold and process for approval. Michelle, Tom Kalb and I have a meeting this aft with Nutech and we all , including John Thompson per his meeting request last week, need to know the steps if any that we need to take on Nutech and similar matters.Michelle/Teresa, appreciate your advice on how best to track this down. Nancy


Geoff:  I understand that I need to get with you to approve the portion of my budget that is allocated the Enron America's.  Currently  $  299,871 is budgeted for allocation to EA.  My group coordinates JV activities as well as conducting due diligence on IT areas related to aquisitions and divestitures.  The amount budgeted above is for the following known projects:

		Coordination and Operations under the Bridgeline IT Services Agreement
		Due Diligence related to Project Sugarcane and how we may monetize our investment in Bridgeline

In 2002 ENA will bill Bridgeline $1,250,000 for IT Services.  Since Chevron/Texaco covers 60% of the bill ENA will net $750,000 in revenue for the services coordinated by my group.

Let me know if you'd like to get together and discuss this in any detail.

Tommy Yanowski  x36858.


FYI
---------------------- Forwarded by George Hope/HOU/ECT on 01/28/2000 08:17
AM ---------------------------

Carol Coats
01/27/2000 06:37 PM
To: Sally Alvarez/HOU/ECT@ECT, Molly Magee/HOU/ECT@ECT, John Howard
Harrison/HOU/ECT@ect, Robbin Stewart/HOU/ECT@ECT, Maricela
Trevino/HOU/ECT@ECT, Lynn Dunphy/HOU/ECT@ECT, Bradley Stewart/HOU/ECT@ECT,
Cornelio Pua/HOU/ECT@ECT, Shannon Rodgers/HOU/ECT@ECT, Judy
Nyegaard/HOU/ECT@ECT, Ken Reeves/HOU/ECT@ECT, Jennifer Rudolph/HOU/ECT@ECT,
Christy Young/HOU/ECT@ECT, Mary Alison Bailey/HOU/ECT@ECT, Cindy
Justice/HOU/ECT@ECT, Mary Coleman/HOU/ECT@ECT, Julianne Alfe/HOU/ECT@ECT,
Meryl Barnett/HOU/ECT@ECT, Lydia Cannon/HOU/ECT@ECT, Sarah A
Davis/HOU/ECT@ECT, Randall Martin/HOU/ECT@ECT, Beth Miertschin/HOU/ECT@ECT,
Patricia Slaughter/HOU/ECT@ECT, Rebecca Torres/HOU/ECT@ECT, Joan
Woodson/HOU/ECT@ECT, Jana Giovannini/HOU/ECT@ECT, Tracy L Arthur/HOU/ECT@ECT,
Celeste Roberts/HOU/ECT@ECT, Sheila Pardo/HOU/ECT@ECT, George
Hope/HOU/ECT@ECT, Shelly Jones/HOU/ECT@ECT, Dolores Muzzy/HOU/ECT@ECT, Brenda
Segovia/HOU/ECT@ECT, Tara Wooten/Corp/Enron@ENRON, Karen
Marshall/HOU/ECT@ECT, Ginger B Gamble/HOU/ECT@ECT, Elizabeth
Boudreaux/HOU/ECT@ECT, Teresa Bosien/HR/Corp/Enron@ENRON, Cheryl
Kuehl/Corp/Enron@Enron, Victoria McDaniel/Corp/Enron@ENRON, Carol
Coats/HOU/ECT@ECT, Tonai Lehr/Corp/Enron@ENRON, Melanie Coats/Corp/Enron@ENRON
cc:
Subject: Written Acceptances Received Thursday, January 27, 2000, Part 2

New Hire  Start Date School  Job Title          Recruiter

Brenton Baxter*  6/5/00  UT   Tax Analyst  GH
Erika Breen*  9/5/00  Goucher College Analyst   MB/AD
Luna Ashley Carlson* 7/3/00  U of FL   Sumemr Analyst SJ
Monika Causholli 7/17/00  Oregon State U.  Analyst   CJ
Gabriel Chavez  7/17/00  Wharton  Analyst   CY
Sachin Gandhi*  7/19/00  UT   Analyst   CY
Eduardo Gil*  9/1/00  U of Chicago  Associate  AD
Matthew Greenwald 7/17/00  Trinity U.  Analyst   SJ
Michelle Gross  7/17/00  Colorado State U. Analyst   SJ
Veronica Hill  7/17/00  Trinity U.  Analyst   SJ
Katherine Jett*  5/29/00  UT   Summer Tax Analyst GH
Heather Johnson 7/17/00  TAMU   Analyst   SJ
Joanna Jinghao Li* 5/29/00  Fundan U.  Summer Tax Analyst GH
Dana Lipp*  5/29/00  UT   Summer Tax Analyst GH
Jeremy Lo  7/17/00  UT   Analyst   GH
Neelam Meghani* 5/14/00  UH   Summer Analyst GH
Amy Mohan*  5/29/00  UT   Summer Analyst GH
Scott Neunendorf* 5/15/00  U of OK   Summer Analyst GH
Michael Olsen*  7/14/00  TAMU   Analyst   SJ
Temiloluwa Osinubi* none given UH   Summer Analyst GH
Sang "Samuel" Pak 2/7/00  Yonsei U.  Analyst   GH
Jana Pair*  2/21/00  UT   Analyst   GH
Amanda Schultz 7/17/00  UT   Analyst   GH
Kendell Sprott  7/17/00  Morehouse  Analyst   KR
Jessica Watson* 6/2/00  LTechU  Summer Analyst SJ
Phi Khanh Wolfe 8/7/00  T-Bird   Associate  AD

*  I will need corrected start dates for all of these, please


You're invited to search and register:

Tuesday, March 6

Investinme.enron.com is a new tool to help you manage your professional
development.
It brings together the listings of internal programs, as well as access to a
database of
external programs, on-line courses and materials

Double Click  and select launch.

Web site demonstrations
EB 568 on March 5, from 1-5 PM (every hour), and March 6, from 9-5 (every
hour)

Questions?  Please call the EWS Development Center  X 3-0357.


get lost


Yates recently agreed (verbally to Brian) to the terms of the attached
sheet.  I do not know if or when they will sign an LOU; however, as we've
been doing with other customers in the interest of time, we would like to get
Yates a first draft of purchase and gathering documents as soon as possible.
Please call with any questions.  Thanks.

Dan

P.S.  F.Y.I., As you will see in this term sheet, Yates is installing their
own first stage of compression (screw) and wellhead gathering, similar to
Ind. Production.


Employee Name:  Gerald Nemec
Phone #:  (713) 853-3512
Guest's Name:  Don't know yet
Overnight Accommodations:  King Bed/Non-Smoking
Garden Dollars: Yes


If any problems tonight Chip's cell # is 969 7635


Group,

Delano suffered a unit outage late this afternoon.  They are prescheduled at 45mw through HE22 this evening (Thursday, 8/16), 30mw HE23-24, and then 45mw all day Friday.  Please replace 25mw, SP15, through HE22 this evening, 10mw HE23-24, and then 25mw HE1-24 on Friday, 8/17.  According to Delano they should be back up and running HE1 on Saturday.

Thanks for your help.

Stan


----- Forwarded by Gerald Nemec/HOU/ECT on 05/25/2001 11:13 AM -----

	"Gillaspie, Matthew" <MGillaspie02@pjc.com>
	05/25/2001 08:13 AM

		 To: "'Gerald Nemec'" <gnemec@enron.com>
		 cc:
		 Subject: Des Moines, Iowa -- HOT HOLLYWOOD ACTION

GN -

I don't know Cuzin' Eric's new e-mail, so you'll have to pass this on to him
. . .
this weekend Buckcherry is one of the bands playing for a local radio
station's Memorial Day bash.  I guess you guys came to Des Moines on the
wrong weekend . . .

Matthew R Gillaspie
Public Finance Associate
U S Bancorp Piper Jaffray
700 Walnut Street, Ste 1300
Des Moines, Iowa  50309
(515) 247-2353
(800) 333-6008
mgillaspie02@pjc.com

______________________________________________________________________

http://www.piperjaffray.com

Investment products purchased from or through U.S. Bancorp Piper Jaffray:

    ---------------------------------------------------------
    * Not FDIC-insured * No bank guarantee * May lose value *
    ---------------------------------------------------------

http://www.piperjaffray.com/disclosure.asp - See For Additional Disclosure
Information
______________________________________________________________________


Here's my attempt to read Dan's handwriting and make the changes necessary to
the term sheet.

Heather


FERC has set a meeting for Monday18 June 10 am PDT wherein it has noticed its
California and WSCC-wide dockets.  The meeting has been timed in advance of
congressional hearings (by Senator Joseph Lieberman) that were set for later
in the week.

Expect FERC to respond to intense political pressure to expand its current
price mitigation measures, possibly to a WSCC-wide scope or to all hours, or
both.

As far as I know Hebert is still President of the FERC, which would speak to
less intervention rather than more.

We will forward information as we learn it.

Alan Comnes

US FERC To Meet June 18 On Western US Electricity Prices

06/11/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -(Dow Jones)- The U.S. Federal Energy Regulatory Commission has
scheduled a special meeting June 18 to address pending matters involving
electricity markets in California and neighboring Western states.

The commission's meeting notice provides no details, except to list for
discussion four cases involving price mitigation in, and the structure of,
volatile power markets in California and 10 other Western states.

The meeting comes as members of Congress are placing enormous political
pressure on the commission to take more drastic action to contain runaway
electricity prices in the region.

Last week, House Minority Leader Dick Gephardt, D-Mo., joined 21
Western-state congressional lawmakers to request an opportunity to appear
before the commission to argue their case for cost-based price controls in
the region's electricity markets.

"At least twice, FERC has determined that the Western electricity market is
'dysfunctional' and that prices are 'unjust and unreasonable' under the
Federal Power Act. Despite these findings, and contrary to the law, the
commission has failed to bring these rates to just and reasonable levels,"
the lawmakers said in a letter to FERC Chairman Curt Hebert.

By Bryan Lee, Dow Jones Newswires, 202-862-6647, bryan.lee@dowjones.com

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


---------------------- Forwarded by Dana Davis/HOU/ECT on 10/09/2000 09:51 AM
---------------------------

	Enron North America Corp.

	From:  Dana Davis                           10/09/2000 09:47 AM

To: KDavis2075@aol.com @ ENRON
cc:
Subject: Re: Hi huneybun

Hey Sweetie
Make sure you use the spell check before you send your messages.

KDavis2075@aol.com on 10/09/2000 09:44:51 AM
To: Dana.Davis@enron.com
cc:
Subject: Hi huneybun

Don't call me
yet OK, I will call you
OK, bye ma!
Love you!!!!


FYI
---------------------- Forwarded by Mitchell Taylor/Corp/Enron on
03/21/2000 05:49 PM ---------------------------

Francisco Pinto Leite@ENRON_DEVELOPMENT
03/21/2000 05:38 PM

To:   Amit Walia@ECT
cc:   Mitchell Taylor/Corp/Enron@ENRON, fsayre@ei.enron.com, Randy
      Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject:  Confidential

Apparently our local counsel in Puerto Rico had a small "change of heart"
as to the transfer restrictions for San Juan Gas, Procaribe and Progasco.
Although the statute does not contain a change of control provision with
respect to the licenses, it appears that after carefully looking into this
issue, local counsel found out that the Puerto Rican authorities are taking
a very aggressive approach with respect to transfers of control of holders
of licenses.  Apparently the Puerto Rican authorities argue that the spirit
of the statute is to extend the requirement of prior authorization for
transfers of the licenses, to a change of control of the operator.  In his
response to Bill Weiland from V&E he advised that it would be more prudent
to request permission to change control of the company that holds the
license.

FPL


---------------------- Forwarded by Robert Benson/Corp/Enron on 05/11/2001
12:20 PM ---------------------------

Chris Dorland@ECT
05/11/2001 12:14 PM
To: Robert Benson/Corp/Enron@ENRON
cc:

Subject: Why One Firm Thinks Enron Is Running Out of Gas

---------------------- Forwarded by Chris Dorland/HOU/ECT on 05/11/2001 12:14
PM ---------------------------

	Dan Dorland
	05/11/2001 07:50 AM

To: Paul Devries/TOR/ECT@ECT, Jan Wilson/TOR/ECT@ECT, Jeff Borg/TOR/ECT@ECT,
Dave Ellis/TOR/ECT@ECT, Garrett Tripp/TOR/ECT@ECT, Stephane
Brodeur/CAL/ECT@ECT, Chris Dorland/HOU/ECT@ECT, kdorland@flint-energy.com
cc:
Subject: Why One Firm Thinks Enron Is Running Out of Gas

http://www.thestreet.com/_yahoo/comment/detox/1422781.html

Why One Firm Thinks Enron Is Running Out of Gas
By Peter Eavis
Senior Columnist
Originally posted at 5:23 PM ET 5/9/01 on RealMoney.com

A small research boutique with a reputation for rigorous analysis is telling
clients to quickly dump Enron (ENE:NYSE - news), believing that the energy
trading giant's 2001 earnings will fall well short of Wall Street's
forecasts.
Cambridge, Mass.-based Off Wall Street, led by analyst Mark Roberts, thinks
Enron's 2001 earnings will fall 6 cents short of the consensus estimate of
$1.79. The firm also believes Enron stock should trade around $30, nearly 50%
below Wednesday's $59.20.
The firm's 26-page report, published May 6, highlights Enron's declining
profitability and increasing leverage and suggests that the company should
trade on the same sort of multiple as a trading firm like Goldman Sachs (GS
:NYSE - news), which has a 2001 price-to-earnings ratio about half of Enron's
33 times. OWS also alleges that Enron's earnings quality is poor and that key
parts of its financial statements are confusing and opaque.
Houston-based Enron didn't comment by publication time on elements of the
report that Detox sent the company. An energy analyst who is bullish on
Enron's outlook says the OWS report contains fundamental misunderstandings
about the energy market and Enron's business model, but he says the report
does include some ground-breaking and valid insights. (The analyst's firm
doesn't give stock recommendations.)
Economies of Scale
Why care what Off Wall Street writes, compared with, say, analysts at Merrill
Lynch (MER:NYSE - news)? For one, OWS has an excellent track record.
Particularly sweet was 2000, when the tech stocks it had bashed came crashing
down. It has also shown itself to be well ahead of the curve, recommending
that clients sell e-tailer priceline.com (PCLN:Nasdaq - news) in June 1999,
when faith in Internet stocks was at its blindest and their prices at their
most insane.

Pulling Back
Enron retreats after long rally

Enron, with its domination of a burgeoning energy market, annual revenue of
over $100 billion and impressive earnings growth, can hardly be ranked
alongside the likes of priceline. But OWS thinks Enron is set for a
precipitous drop nonetheless. Why?
OWS's main beef is that key profitability measures are in decline. Margins on
Enron's pretax operating earnings (which the company's earnings releases call
IBIT, or income before interest, taxes and other items) are falling. Total
IBIT of $795 million in the first quarter amounted to only 1.59% of the $50
billion in revenue for the period, compared with a 2.08% margin in the fourth
quarter and 4.75% in the year-earlier period. Revenue in the first quarter
was nearly quadrupled from the year-earlier period, yet IBIT rose only 27%.
This shrinkage is due to lower-margin trading income making up an
increasingly large share of Enron's revenue base.
OWS thus calculates that for the remainder of 2001 Enron needs to generate an
extra $2.1 billion in revenue for each additional penny it makes over its
2000 EPS of $1.47 to reach analysts' expectation of $1.79.
The energy analyst counters that OWS apparently hasn't grasped how Enron can
continue to increase earnings even when margins shrink. It does so simply by
increasing volumes as the energy market balloons in size. In other words,
margins may decline, but since revenues are so much higher, earnings still go
up. Illustrating this, first-quarter 2001 EPS of 49 cents was 23% ahead of
the year-ago figure, even though the IBIT margin shrank by 3.2 percentage
points. The analyst thinks Enron will make $1.82 per share in 2001.
Growing On You
In addition, the huge growth in the energy market that has so helped Enron is
likely to continue for several years, according to the analyst. He notes that
roughly 75% of the electricity available in the U.S. still isn't traded in a
market. "Eventually it will be part of a competitive environment, but it'll
take five to 10 years," says the analyst. And he believes the extreme
volatility in energy-related commodities that has also benefited Enron will
exist for longer than OWS projects.
Still, OWS's point on profitability is bolstered by other profit measures.
Return on capital (net income as a percentage of equity plus debt) was 6.6%
in 2000, down on 1999's 6.9% and well below the 2000 returns on capital at
Duke (DUK:NYSE - news) (11.8%), Dynegy (DYN:NYSE - news) (12.1%) and even
Goldman (8.9%).
Even Enron bulls will admit that its financials are hard to follow. For
example, it doesn't give a gross margin number for its wholesale services, or
trading, business, which accounts for 96% of revenue. But one area of the
company's financial statements registered with the Securities and Exchange
Commission that consistently bugs analysts is the part that describes Enron's
related party transactions, which are the deals it does with entities that
have some sort of link to the firm. In fact, one of the related entities that
Enron has traded with is headed by Enron's CFO, Andrew Fastow. The energy
analyst comments: "Why are they doing this? It's just inappropriate."
The reason for maintaining these hard-to-follow related party deals has been
a source of speculation. But OWS analysis shows how a sales of optical fiber
to a related party may have been used to goose earnings in the second quarter
of 2000. Estimated profits from the so-called dark fiber (optical cable
without the gear to send data over it) transaction allowed Enron to beat
analysts' second-earnings earnings estimate by 2 cents a share, rather than
missing by 2 cents.
How soon before Wall Street follows Off Wall Street on Enron?


Steve,

Yes, please arrange the interview. The resume is very interesting.
I shall be on vacation all of next week; you can make arrangements
for the following week, Monday through Thursday. Please, include
Stinson, Grant and Vasant.

Vince

Steven Leppard
03/17/2000 03:36 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Thomas Knudsen

Hi Vince

I met with Thomas this morning (I gave you his CV before, though I don't know
if you had time to read it).  He's extremely interested in moving to Enron,
and accepts that our work is far less academic than his postdoc research,
although far broader than his investment banking quant experience.  He
remains interested, and emphasised he wants to stay close to the traders, but
wants to look at new markets and products.  I think we should seriously
consider hiring him.  He is (understandably) reluctant to move to Houston,
but there's no doubt that there is plenty of (unnmet) demand for derivatives
pricing (and thinking) here in London.

Would you be interested in my setting up a videoconference in the next couple
of weeks so you have a chance to chat with him?  I'm meeting with him again
on Tuesday at an academic quant finance seminar organised by Lane at King's
College.  I've attached his CV for your reference.

All the best,
Steve


-----Original Message-----
From: 	Black, Troy
Sent:	Monday, November 19, 2001 8:17 AM
To:	Quigley, Dutch
Subject:	Your Offer

Your offer for attached volumes please.

Troy B. Black
Enron Americas
Tel: 713-853-7415
Fax: 713-646-3239
troy.black@enron.com


As agreed at last week's tariff integration group meeting, I will be
collecting and organizing the revisions/options we discussed for the RTO
West Tariff ADR provision.  I owe the compiled results to Sarah by Friday,
March 2, so would appreciate getting whatever you can provide to me by
Thursday, March 1, at the latest.

The assignments as I recorded them are:

Carl:  Fast-track option
Don:  Parties can agree to take all, or part, of dispute to FERC
Gary:  Default: baseball or not?
Mary:  Applicability to unaccepted service agreements.
Paul:  Preliminary required mediation?
Paul w/ Shelly:  Source(s) for mediators/arbitrators.

Attached for your convenience are the fast-track intereconnection and
regular ADR provisions from the TOA.

  <<Dispute Resolution.doc>>
Thanks, Paul

> Paul B. Mohler
> Attorney
> HellerEhrman
> 815 Connecticut Ave, NW, Suite 200
> Washington, DC  20006-4004
> Direct (202) 263-8953  Fax (202) 785-8877
> E-mail: pmohler@hewm.com
>
The information contained in this e-mail message  may be privileged,
confidential and protected from disclosure.  If you are not the intended
recipient, any dissemination, distribution or copying is strictly
prohibited.  If you think that you have received this e-mail message in
error,  please e-mail the sender at "pmohler@hewm.com'.

 - Dispute Resolution.doc


It appears that administratively Maureen's expenses in coming to London
cannot be processed from this office.   Can I confirm that there is no doubt
that the London office will pay these.  Could I therefore please ask Shirley
to process them in Houston, and we will find out how they can then be charged
back from Research in Houston to the London Metals cost centre.

Thanks in advance for you help.

Tani Nath


Daren,

It is my understanding that Enron should not be attempting to purchase wellhead supply on HPL per the contract