IntercontinentalExchange
                                                                                Firm Physical Natural Gas Price Bulletin
                                                                                For Natural Gas Delivered on Tuesday, November  20, 2001
                                                                                (Trade Date of Monday, November  19, 2001)
Click here to access index history .
                                                                                * volume represents sell-side only *

Region     Hub	High	Low	Wtd Avg Index	Change ($)	Vol (mmBtu)	Hub Name
 LOUISIANA
    ANR SE	          $2.3800	          $1.8900	          $2.0225	+    .4136	         293,000	American Natural Resources Pipeline Co. - SE  Transmission Pool
    Columbia Onshore	          $2.4700	          $1.8700	          $2.1529	+    .5234	         270,300	Columbia Gulf Transmission Co. - Onshore Pool
    Henry Hub	          $2.4600	          $1.9300	          $2.0774	+    .3593	       1,472,500	Henry Hub tailgate - Louisiana
    NGPL LA	          $2.3275	          $1.8600	          $1.9720	+    .3835	         238,800	Natural Gas Pipeline Co. of America, Louisiana Pool
    Tenn 500L	          $2.3400	          $1.8150	          $2.0306	+    .4295	         422,700	Tennessee Gas Pipeline Co.-Zone L, 500 Leg Pool
    Tenn 800L	          $2.3300	          $1.8150	          $2.0073	+    .4024	         251,300	Tennessee Gas Pipeline Co.-Zone L, 800 Leg Pool
    TETCO ELA	          $2.5200	          $1.8550	          $2.1374	+    .4885	         248,500	Texas Eastern - East LA
    TETCO WLA	          $2.4800	          $1.8200	          $1.9198	+    .3116	         244,200	Texas Eastern - West LA
    Transco 65	          $2.5000	          $1.9650	          $2.1221	+    .3847	         244,600	Transco - Station 65
    Trunkline ELA	          $2.4500	          $1.8200	          $1.9795	+    .4371	         103,300	Trunkline Gas Company - East Louisiana Pool
    TxGas SL	          $2.4700	          $1.8800	          $2.0918	+    .4279	         328,900	Texas Gas Transmission Corp.-Zone SL FT Pool
 MIDCONTINENT
    MichCon, citygate	          $2.4300	          $2.0700	          $2.1744	+    .3588	         243,500	Michigan Consolidated
    NGPL Midcont	          $2.1000	          $1.7150	          $1.7930	+    .4001	         165,400	Natural Gas Pipeline Co. of America, Mid-Continent Pool
    NGPL Nicor, citygate	          $2.4200	          $1.8950	          $2.0090	+    .3880	         519,500	Natural Gas Pipeline Co. of America, Nicor Citygate
    NGPL NIPSCO, citygate	          $2.4500	          $1.8950	          $1.9945	+    .3900	         121,200	Natural Gas Pipeline Co. of America, Nipsco Citygate
    NNG Demarcation	          $2.3900	          $1.8100	          $2.0449	+    .5635	         217,200	Northern Natural Gas, Demarcation Pool
 NORTHEAST
    Columbia TCO	          $2.5000	          $1.9800	          $2.1417	+    .3887	         605,300	Columbia Gas Co. - TCO Pool
    Dominion So.Point	          $3.0000	          $2.0600	          $2.3471	+    .5403	         367,500	Dominion - South Point
    TETCO M3	          $3.0900	          $2.2100	          $2.5296	+    .5388	         399,000	Texas Eastern - M3 Zone
    Transco Z-6 (NY)	          $3.2375	          $2.4100	          $2.6257	+    .6410	         327,600	Transcontinental Gas Pipe Line Corp. - Zone 6 (NY)
 WEST
    El Paso non-Bondad	          $1.7800	          $1.5900	          $1.7077	+    .5433	          83,200	El Paso - San Juan Basin, Blanco Pool
    Huntingdon/Sumas	          $1.9300	          $1.7650	          $1.8250	+    .5531	         128,000	Westcoast Energy & Northwest Pipeline Corp.
    Opal	          $1.7500	          $1.4900	          $1.5583	+    .3706	         129,800	Opal
    PG?Citygate	          $2.0500	          $1.8900	          $1.9756	+    .5850	         287,000	PG?- Citygate
    SoCal Border	          $1.9500	          $1.8300	          $1.8850	+    .4775	         226,600	Southern California Border Points (Ehrenberg,Topock,Needles)
 WEST TEXAS
    El Paso - Keystone	          $2.0900	          $1.6300	          $1.7492	+    .4700	         310,000	El Paso - Keystone Pool
    Waha	          $2.2000	          $1.7500	          $1.8735	+    .5027	         213,800	Waha Hub - West Texas

                                                                                Includes all firm physical fixed price trades done from 7 AM to 11:30 AM Central Prevailing Time on the trade date specified for natural gas delivered on the specified date(s).
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Real Time Traders,

The Services Desk has sold 10 Mw of Willamette Ind. energy, Balance of the
Month, to Avista/WWP, On Peak,  beginning 12/4 through 12/30. The energy is
unit contingent power  at the WWP system. I have placed copies of the tags
and oasis requests in the Services Books.

I have purchased PacifiCorp Firm transmission to move from the Willamette
Busbar to the BPA system interconnect. Then Snohomish network transmission to
move from PacifiCorp's system to Avista's system.

I have requested that Willamette give Enron a phone number to allow us to
communicate Real Time with their generation staff. I will pass this along
when it's received.

Although the schedule is unit contingent I would like to make a reasonable
effort to keep the schedule whole when Willamette has unit problems. If we
can show that this energy is a reasonably reliable energy source it will open
up future opportunities. If there are curtailments call Pac Transmission at
503-251-5230, Snohomish Transmission at 425-304-1620 and WWP at 509-495-8534
and inform them of the cut and whatever resupply source that maybe used.

Feel free to call me at home (503-579-1615) or on my Cell (503-807-2826) if
there are ever any questions.

Les Rawson


I am sending you a copy of the subpoena "served" on Glanville. I have just
left him a voicemail to confirm, but the last time I talked to him he told me
this subpoena had been sent to Reliant's legal dept. You will notice that it
is only signed by Dickstein Shapiro, not a Texas court reporter. I doubt it
is effective. Feel free to call Glanville if you like. His no. is on the
document.
Gary Grote called yesterday to tell me that Kevin was "served" last Sat the
3rd. I have asked Gary to send me a copy and Linda Guinn will be following up
with him. Linda's no. is 713-853-6104. Gary Grote's no. is 713-650-3131. Of
course you can always call Kevin.
I am on spring Break but am checking messages. My cell no. is 713-410-6128.

	showard@agsk.com
	03/07/2001 06:47 PM

		 To: richard.b.sanders@enron.com
		 cc:
		 Subject: McConville, Glanville

Have you found out whether either Glanville or McConville has been properly,
or even improperly, served with a subpoena for their depositions in
Texas?

................................................

ALSCHULER GROSSMAN STEIN & KAHAN LLP
ATTORNEYS AT LAW
www.agsk.com

2049 Century Park East
Thirty-Ninth Floor
Los Angeles, CA 90067-3213
Tel 310-277-1226
Fax 310-552-6077

This transmission is intended only for the use
of the addressee and may contain information
that is privileged, confidential and exempt from
disclosure under applicable law. If you are not
the intended recipient, or the employee or agent
responsible for delivering the message to the
intended recipient, you are hereby notified that
any dissemination, distribution or copying of
this communication is strictly prohibited.

If you have received this communication
in error, please notify us immediately
via e-mail at postmaster@agsk.com or
by telephone at 310-277-1226. Thank you.

...............................................


Not to be too obvious in all of the mess noted below but a little further framing of the issue seems appropriate.

The project has a total return swap structure in place.  We also have a potential sale of the project underway which could result in a significant positive amount being distributed to the estate.  How we handle the matter Rick notes below could impact our continuing involvement in the sales process and ultimately effect our ability to realize the distribution.

Chuck

-----Original Message-----
From: Hill, Garrick
Sent: Thursday, January 31, 2002 3:12 PM
To: Sewell, Doug; Schneider, Chip
Cc: Parks, Joe; Boyt, Eric; Armstrong, James; Ward, Charles
Subject: RE: Tenaska Service Agreement

The desk has, since September 2000, provided "agency services" to the Cleburne, TX facility (owned by Ponderosa Pine Energy Partners, Ltd., f/k/a Tenaska IV Texas Partners, Ltd., which is owned by ECTMI (10%) and Ponderosa Pine Energy, LLC (90%), or "PPEP").  Agency services include gas scheduling/reconciliation, purchase/resale, and billing/payment of services provided under three contracts to which Ponderosa Pine Energy Partners is a party:

Lone Star - transport
Apache - supply
Williams - supply

An agreement covering these services was developed by Sandy Braband (no longer here) and never executed.  The desk received a fee of ~4.5 cents/Dth for the services.

Based on my conversations with James Armstrong, it appears that pipeline charges billed by Lone Star between April and September 2001 were billed by the desk to the project.  The project forwarded funds to the desk for payment of the Lone Star invoices, but the funds never went to Lone Star.  The total amount still due Lone Star for the period is $515, 985.41.  As the contract is between Lone Star and PPEP, the amount due must be settled in order to prevent defaults under the project-level loan agreement.  I believe a request has been submitted to you for payment of the total amount due.  My question is can the estate pay the amount due Lone Star or will the project need to remit funds directly to the pipeline and file a claim against the estate (effectively double-paying the amount due)?  To the extent it's the latter, it's the upstream parties (i.e., KBC/Delta Power) that will have an issue with what's happened, as any amounts trapped by the desk (and paid, for a second time, by PPEP) essentially come out of future cash distributions from the project company.

FYI, this is not the only issue that has arisen as a result of this arrangement.  According to James, the project company also paid the desk for October 2001 pipeline charges billed by Lone Star and subsequently paid the pipeline directly ($108,405) and is owed $600,377.50 for November 2001 gas sales made on behalf of the project.  We're also aware that a large imbalance has built up on Lone Star; Joe Parks is looking into taking care of this problem while we're determining what DPC/Delta Power wish to do with respect to gas management going forward.

Please call me at x3-6027 if you have any questions.

RH

-----Original Message-----
From: Sewell, Doug
Sent: Thursday, January 31, 2002 1:13 PM
To: Hill, Garrick
Cc: Schneider, Chip
Subject: FW: Tenaska Service Agreement

Can you get Chip and myself up to speed on this?
-----Original Message-----
From: Martin, Thomas A.
Sent: Thursday, January 31, 2002 12:41 PM
To: Sewell, Doug
Subject: RE: Tenaska Service Agreement

We can try.  The guy who managed this deal for the desk left the Company but I thought he handed it off to Rick Hill in the estate.  I will talk to the rest of the guys on the desk and find out what we have on it and call you.  My basic understanding of this deal is that we provided services only and are agent for the plant.  I believe Rick Hill is the commercial contact on the deal so he should be able to provide more insight to the whole deal.  I will get back to you.

Tom

-----Original Message-----
From: Sewell, Doug
Sent: Thursday, January 31, 2002 9:20 AM
To: Martin, Thomas A.
Cc: Miller, Don (Asset Mktg); McMichael Jr., Ed; Schneider, Chip; Wynne, Rita
Subject: Tenaska Service Agreement

Hey Tom,
Rita Wynne just called and let me know that we need to make a payment to TXU on behalf of Tenaska.  Since TXU has terminated agreements with us, the Cash Management Committee will not make payments to TXU unless they understand the deal that is in place with Tenaska and we show that Tenaska has already paid us their part.  Could you please help Chip Schneider, of Enron Underwriting, and myself get up to speed on this as quickly as possible.  TXU is threatening to take action on Tenaska.  Thanks for your help.

Regards,

Doug Sewell
3-6337


You are correct it is being changed m-s on peak


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 04/26/2000
08:40 AM ---------------------------

TIM HEIZENRADER
04/25/2000 11:43 AM
To: Jim Fallon/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT
cc: Tim Belden/HOU/ECT@ECT
Subject: Western Strategy Session Materials

Today's charts are attached:


11:00 Classes will be postponed until further notice.

Thanks!


COPY CENTER @ Enron
       We are open for business!!!
            New prices and new service levels

ADDRESS: 1400 SMITH STREET, 3RD FLOOR         HOURS: 7:30AM TO 5:30PM
                      ROOM 334-A

PHONE:      713-853-6371

AFTER HOURS CONTACT: Allan Measom  (713) 818-4944, Don Traweek  (281) 450-2855

We will meet or beat any price on the street.

SERVICES:	BLACK & WHITE COPIES                     	3-HOLE
			COLOR COPIES                                       	TABS
			BINDING                                                    	LITIGATION
			LAMINATING

 ****** All request for copies must be accompanied by a signed Purchase / Service Approval Request Form attached below , per new enron policy ******

                        IF YOU DON'T SEE THE SERVICE LISTED, CALL 713-853-6371 FOR ASSISTANCE
                SUBMIT YOUR ORDER ONLINE @ http://enron.ccsystems.com


Read it and weep...Just let me know if you want me to bring some sand back
with me in case you don't make it out there this weekend.  I'm thinking I may
need to get Julie to hook me up with a job like hers...if it will allow me to
live like we're evidently going to this weekend.

Shorty

---------------------- Forwarded by Susan M Scott/HOU/ECT on 08/28/2000 05:33
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Julie Gibson <julieg@qualcomm.com>
08/28/2000 05:28 PM

To: Susan M Scott <Susan.M.Scott@enron.com>
cc:
Subject: this weekend!

HI Susan-

I'm so excited for your visit this weekend!  Whenever you get a chance, let
me know your arrival time on Saturday and departure on Monday so I can plan
around them both....

I've been brainstorming some fun things for us to do, and thought we could
spend some time lounging at the beach, shopping at the outlet center near
me, go out for a champagne bunch on Sunday, grill out on the beach, and
possibly go to a polo match or the Del Mar races.  Which of these interests
you?  Are there any tourist sites that you would like to see while in
town?  The zoo, Balboa Park (where all the museums are), or anything
else?  Oh- I've arranged for us to have a massage on Monday- the woman is
coming to my house!  We'll each get a 30 minute massage....I think this
will be great quality, girl time!  I've missed our shopping binges!

Please bring any current pictures of friends and family- I can't wait to
hear how everyone in your life is doing.  Weather has been beautiful as
usual- about 75 degrees and perfect.  In the evenings it gets cool enough
to wear you need a light sweater or jacket, but you can always borrow
something from me, too.

The condo I'm living in now is tiny, but cute.  I've been living there for
a year and am moving out in 2 weeks.  I could have moved out this Labor Day
weekend, but obviously didn't want to be doing that while you were in
town.  So you'll have to excuse a bit of the mess and come back another
time when I move into the cuter place- I love the new place I'm moving
into- it's 2 stories with vaulted ceilings and lots of skylights.

See you soon!
Julie


I had sent out an incorrect revision of the agenda for today's UAF meeting.  Attached is a copy of the correct agenda with last months meeting notes.  This agenda also includes the dates for year 2002 UAF meetings.

Kenneth


I extended the deal.

D

   Aimee Lannou                06/21/2000 11:03 AM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: HL&P

Daren - Pat gave me a a spreadsheet showing what should be allocated to
Greens Bayou.  I checked the deal ticket (286824) and it ends on 6/17.  There
is still two more days that need to be reallocated.  Please let me know if
you can extend this deal or create a new one.

Thanks.

AL


Approve as written. (Continue to hate the deal). Rick


Guys, need your 2000 acoomplishments before Friday.

Regards
Delainey


The Texas Curves are located in:
O:\Global_Trading\Financial_Trading\Texas Trading\Curves Bass... The files are:
	ft_tx0326   			for shipchannel basis
	Waha_Perm_0326		for waha/permian basis
	IndexCurves			for physical index
	TexasNewStyle			for intramonth gas daily and physical
	Texas Gas Daily Index Curves	for Y curves

Also for Bridgeline:
O:\Bridgeline\BRMS\Risk\Benchmark	for positions
O:\Bridgeline\BRMS\Risk\P & L		for p & l

I'll continue to think and forward anything I come up with... O

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Wednesday, January  9, 2002 11:58 AM
To:	Winfree, O'Neal D.; Giron, Darron C.; Valdes, John; Palmer, B. Scott; Love, Phillip M.
Cc:	Gossett, Jeffrey C.
Subject:	estate files

Are there any other files/directories that the estate people in risk will need to use to do their jobs.  IT will have to go into each macro and change the database that it is using to the new one they are creating this weekend.  I don't know if any of you are still using any exotic spreadsheets other than the transport model.  Please let me know if there is anything I'm missing.  (curve files)

Here are the files that use ERMS that the estate will be using.

O:\erms\erms_adm\firmtrad\Benchmark\2002\Jan-02
O:\erms\erms_adm\firmtrad\2002\0102\regions
O:\erms\Excel Queries\ (Netco will need a copy of these files moved with them)
O:\Transport\Central Transport\2002\Jan02
O:\TDS\TDS Curve\Central
O:\TDS\TDS Curve\East
O:\TDS\TDS Curve\GD-Central
O:\TDS\TDS Curve\Central\NY
O:\TDS\TDS Curve\Central\NYMarket
O:\TDS\TDS Curve\Central\Southeast
O:\TDS\TDS Curve\Central\Texas
O:\TDS\TDS Curve\Central\West


I do not think so.  I think he will be at Enron until he is 65.   Mark

	Jane McBride@ENRON
	12/14/2000 04:42 AM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc:
		 Subject: Re: Energy Seminar in Japan

I think it really depends on what sort of topics they are thinking of having.
Also BTW, do you think Ken Lay is going to resign?  Everyone here seems
pretty sure he will (so does the Japanese media).  I have heard his responses
to this question before so I know what the official line is.
Jane

	Mark E Haedicke@ECT
	2000/12/13 23:40

		 To: Jane McBride/AP/Enron@ENRON
		 cc:
		 Subject: Re: Energy Seminar in Japan

It sounds premature at this time for ISDA to put on an energy seminar in
Japan.  Do you agree?   Mark

	Jane McBride@ENRON
	12/13/2000 02:26 AM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc: Alan Aronowitz/HOU/ECT@ECT, Jonathan Whitehead/AP/Enron@Enron
		 Subject: Re: Energy Seminar in Japan

Enron Japan is also planning an energy conference in April / May of next year
to promote our energy business here in Japan.  The arrangements are still
very much at the preliminary stage so are confidential which is why I did not
copy this email to the ISDA person.  (As you would suspect we are still some
way off being able to use ISDA documentation for any of our energy
transactions, which are tending to be physical transactions.)

Jane

	Mark E Haedicke@ECT
	2000/12/13 07:38

		 To: Jane McBride/AP/Enron@Enron, Alan Aronowitz/HOU/ECT@ECT
		 cc: rainslie@isda.org
		 Subject: Energy Seminar in Japan

Jane:

ISDA is planning an energy seminar in Tokyo in mid-May.  We have heard there
may be an energy seminar in March or April in Tokyo.  Have you heard of the
earlier seminar?  We are trying to decide whether it makes sense to go
forward on the May seminar.  Could you look into this and talk to the traders.

Thanks for your help.

Regards,

Mark


To:	    Employees

From:	    ENRON Benefits Department

Subject:    All Employees Participating in the ENRON Domestic Benefit Plans

Enron Benefit Plans
Summary Annual Report

The basic financial and insurance information on the back of this page, as well as the material below, provide a Summary Annual Report for the Enron Benefit Plans.  The annual report for each plan has been filed with the Internal Revenue Service, as required by the Employee Retirement Income Security Act of 1974 (ERISA).

NOTE:  You may receive a report for a benefit plan in which you are not a participant or under which you are not entitled.  Entitlement to benefits under any of the plans is based on the provisions of each plan.

Your Rights to Additional Information

You have the right to receive, upon request, a copy of the full annual report, or any part thereof, for any plan.  For insured plans, insurance information (including any sales commissions paid by insurance carriers) is shown in the annual reports.

To obtain a copy of the full annual report, or any part thereof, for any plan, write or call:

Enron Corp Shareholder Relations
1400 Smith Street
Houston, TX  77002-7311

(713) 853-6161

You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both.  If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report.

You also have the legally protected right to examine the annual report at the main office of the plan (Enron Corp., 1400 Smith Street, Houston, TX  77002-7311) and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs.  Requests to the Department should be addressed to:  Public Disclosure Room, N-5638, Pension and Welfare Benefits Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.


interesting . .  thanks for the update

-----Original Message-----
From: Larry Bass [mailto:lwbthemarine@alltel.net]
Sent: Wednesday, November 14, 2001 3:31 PM
To: K. Bass; Bass, Eric
Subject: USENE Recent Stock News Investing - MSN Money

  <http://news.moneycentral.msn.com/ticker/article.asp?Feed=RTR&Date=20011114&ID=1226624&Symbol=US:ENE>


we would like to meet @ 8 at some Pappasitos (I don't know where you live
exactly) between you and I.

"Jason Bass" <jbass1@houston.rr.com> on 01/08/2001 11:10:29 AM
To: <Eric.Bass@enron.com>
cc:
Subject: Re: My Resume

We will be there.  Name the time and which Pappasitos

----- Original Message -----
From: <Eric.Bass@enron.com>
To: <jbass1@houston.rr.com>
Sent: Monday, January 08, 2001 10:46 AM
Subject: Re: My Resume

(See attached file: JBass Resume.doc)
I made a few changes.  Generally when creating a resume, shorter is better
(preferably fitting on one page).  So most of my changes have been
consolidations.  Also, I tried to make the tenses of all of your bullet
points the same (you want to do this on all resumes and outlines).

As a side note, Shanna and I would like to take you and Donnita to dinner
on Friday at Pappasitos.  Can you make it?

-Eric

"Jason Bass" <jbass1@houston.rr.com> on 01/08/2001 09:10:20 AM

To:   <lwbthemarine@bigplanet.com>
cc:   <Eric.Bass@enron.com>, <daphneco64@bigplanet.com>
Subject:  My Resume

Would you do me a favor and look this over and tell  me things I should
change? Please send it back to this address. You  can make the changes in
the document and send the changed document back.   Thanks.


Mark

Can you have one of your lawyers get me a copy of the Merryl Lynch deal we
deal at the end of last year.  A short summary to supplement the contract
would be great.

Thanks

John


Team,

I reviewed the Socal PD . Here are a couple of rough thoughts for possible
TW comments in favor of the CSA and rejecting the PD's adoption of the IS.

1) The PD adoption of the IS modified windowing procedure falls
substantially short of the objectives outlined by the Commission order(s)
etc. The CSA's adoption of firm Socal receipt point rights is the only means
to give both Socal endusers and their suppliers the "certainty" they have
long sought. While, the IS as modified in the PD may appear to be an
improvement in the allocation of receipt points on the Socal system, it is
only an improvement upon a fundamentally flawed system. A system dependent
upon a "daily" determination of receipt point access volumes and completely
dependent upon upstream priority systems without consideration of Socal
customers needs. Indeed, this Commission is on record about adverse impacts
on California customers resulting from chaotic upstream transportation
rules.(need to be careful about wording)
The CSA gives incumbent Socal endusers preference to Socal's receipt points
under the open season rules, while the PD continues the status quo.   etc,
etc Ref. p.128 pt 10

2) If we lose the battle, lets try to reopen the deal sooner. p.132 pt.37
The PD calls for waiting a 2 year period before a Market Assessment would be
published. Based upon the MA the Commission could institute another OII. The
argument could be made that this waiting period is simply to long given the
speed at which the industry does move. Therefore, TW could recommend that
these Market Assessments be made annually or not at all if the CSA were
adopted etc.

These items maybe of no use , if the bigger picture and battle for the CSA
does not have Socal and other party support. Have a great day! Mark, IGS


visit w/the employees of Northern Natural Gas CO & Northern Border Partners


Attached is a short memo and summary outlining changes to the Business School
Loan Program for the Western Hemisphere. As many of you know, over the past
couple of months we have taken a hard look at our approach to business school
loans. The updated guidelines better serve Enron's business interests,
eliminate credit exposure for the company, and potentially broaden the reach
of the Loan Program. If you have any questions, please contact Ted Bland
(x35275) who leads Career Development for the Program.
Billy


I left a message.  Ken has stated publicly that succession will be internal, so we won't be needing these guys.

 -----Original Message-----
From: 	Fleming, Rosalee
Sent:	Wednesday, August 15, 2001 6:59 AM
To:	Kean, Steven J.
Subject:	FW: CEO
Importance:	High

Steve, I gave this fellow your phone number if he decides to call.  Would you like me to route these somewhere else?  It was all I could think of late last evening.  (I should have already forwarded our phones to voicemail!).

Rosie

 -----Original Message-----
From: 	Mike Gergen <mgergen@aalpsearch.com>@ENRON [mailto:IMCEANOTES-Mike+20Gergen+20+3Cmgergen+40aalpsearch+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Tuesday, August 14, 2001 6:57 PM
To:	Lay, Kenneth
Subject:	CEO
Importance:	High

Ken,

Rosa Lee indicated that e-mail would be a great way to initially communicate
with you regarding the announcement during the Astros pre-game show that
your CEO stepped down today.

When you are ready to evaluate your options to staff the position, my CEO
and I would like to meet with you to discuss Allen Austin Lowe & Powers'
capabilities to do a thorough retain search for this position.  Two salient
points are: 1) We have filled 100% of our retained searches, and  2) We
guarantee our candidates for one year.

Allen Austin Lowe & Powers has done work for Enron in the past and is
located here in Houston.

I can be reached on my direct line listed below or on my cell at (281)
923-4563.

Regards,

Mike Gergen
Allen Austin Lowe & Powers
Partner & Practice Leader
Phone:  281 419 0253
Fax:       281 419 4044
Email:mgergen@aalpsearch.com


New Mexico Train De-railment - Most of this week was spent helping customers
re-route gas as the train derailment on TW's right-of-way in McKinley County,
New Mexico forced Operations to blow down the mainline in the east of Thoreau
area.  The accident reduced flow to the California border by 250,000 MMBtu/d
or 25%.  Once the 27 rail cars were removed, a determination was made that
line would need to be hydro-tested to ensure no damage had occurred.
Approximately 2000 feet of pipe was excavated, the coating inspected and/or
replaced, and if test results are good, the line should be back in service
sometime during the weekend of November 3.  While the pipe is being recoated,
the line segment will only operate at 80% of maximum pressure.  TW costs and
revenue losses are being tracked to enable us to recoup damages from
Burlington and/or Enron business interruption insurance.

Sempra Trading - The loss of gas supply from TW's east end enabled us to sell
a max rate IT agreement for 100,000 MMBtu/d to Sempra during this outage.
Duke also moved 40,000 MMBtu/d of alternate volume west at max rates.

Transport Options Tariff - The deadline to file protests on TW's Transport
Options Program was Monday October 30.  Twenty-two parties filed
interventions, of which only three were protests: PG&E, SoCal/Sempra, and
Dynegy.  We expect FERC to schedule a technical conference sometime in the
next 30 days.

Non-binding Open Season - The solicitation was published and sent to
customers this week asking for expressions of interest in capacity turnback
or pipeline expansions across all of TW.  Responses are due November 17th.


Paul,

I am sending you modified bullet points. The modifications are in red.
Apologies for a delay in responding to your messages.

By the way, Power2001 gets only more and more interesting every day.

Vince


I am no longer with the gas desk.
Sherry is the contact person.
713.345.3461


B.O.
Sorry, I was out of the office all day.  Hope you got there.

	"Scott Laughlin" <scottwl@hotmail.com>
	11/14/2000 02:38 PM

		 To: jdasovic@enron.com
		 cc:
		 Subject:

Sorry, dude. Don't mean to overload you. But could you just tell me the best
way to get from Geary and Larkin to a Bart station that will take me to
Berkeley? Cameron and I are going to see Steve Earle's sister Stacey tonight
at the Frieght. I think she asked P dub-yah if you guys wanted to come, but
becaue there's no banjo and all that... When you get a chance to give me
that info, I'd greatly appreciate it.

Best,

Big Oil
_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/10/2000
03:33 PM ---------------------------

Pinnamaneni Krishnarao
10/09/2000 10:53 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:


On Monday July 16, more than 125 new full-time Analysts (including Tax and Global Technology) will be starting their careers at Enron.  Attached is a schedule of Orientation Topics, as well as an invitation to welcome these Analysts at a Happy Hour Monday evening.  It would be great if you could stop by, even for just a few minutes, to welcome them to the company.  For your convenience, the Happy Hour is at Farrago, which is less than 6 blocks from the Enron Building.

Members of the Program regularly tell us that senior level interaction is an area that we can improve on, so your participation in events like this very important.  An RSVP is not required, but if you plan to attend, please let us know so we can prepare a name tag for you.  Feel free to extend this invitation to other senior members of your team.

As always, we appreciate your continued support of The Program.

Regards,
Billy

Distribution:
Policy Committee
A&A Committee (Western only)
Recruiting Executive Leads


Tom, as we discussed, attached is a short presentation that addresses the GOM
and GOI guarantees and the process for "pulling" them.


Just a note to remind everyone I will be on vacation Monday and part of Tuesday of next week.  If you are in need of assistance, please see Susan Wadle at ext. 31878.  She has offered to take care of you guys while I'm out.

Thanks and have a great weekend.

adr

Audrey D. Robertson
Transwestern Pipeline Company
email address:  audrey.robertson@enron.com
(713) 853-5849
(713) 646-2551 Fax


Kevin,

Here is the result of talking to Tricky

Can you forward this to everyone and see what the response is

thnx
dq

 -----Original Message-----
From: 	Rs1119@aol.com@ENRON [mailto:IMCEANOTES-Rs1119+40aol+2Ecom+40ENRON@ENRON.com]
Sent:	Thursday, July 26, 2001 7:43 AM
To:	Quigley, Dutch
Subject:	golf or as they say in Scotland Goff

Good news bad news.   The course here in town would only take one tee time
without a credit card.  It is at 10:57  Yuk.  The really nice course that is
just as close to my house didn't have a time until 12:02  YUKKKK.  So I
called Anahuac and they had a 9:32 and a 9:40.  So I booked the 10:57 and the
two at 930.  The anahuac course is nice but it is another 15-20 min. from my
house.  If we need only one tee time we can go from my house in my car.  If
we have two then I'll drive and someone else will have to as well.  Let me
know how many people and so forth.   (Evergreen is about 40 dollars and
Anahuac is about 25.)

Richard


Mark, thank you for the information. Jim

 -----Original Message-----
From: 	Evans, Mark (London Legal)
Sent:	Monday, November 19, 2001 3:01 AM
To:	Harris, Stephanie J ; Derrick Jr., James
Subject:	RE: BAKER & McKENZIE

Jim,

B&M are our lead firm in Japan, and are used extensively by Jane McBride, and also on a more sporadic basis by businesses in London (eg metals and the Wind business) which have operations in Japan. Enron Wind in Japan have appointed Paul Davies of B&M in Tokyo to act on a joint venture for Enron Wind in Japan.

In the summer of 2000, we undertook some basic physical gas due diligence re gas in the Ukraine utilising Baker & McKenzie's Kiev office.  This was in preparation for a potential long-term gas deal to get gas out of the Ukraine to the Romanian border (for onward sale in Romania / Poland).  B&M was the only "recognised" firm in the Ukraine.

That's it.

							Mark

 -----Original Message-----
From: 	Harris, Stephanie J
Sent:	14 November 2001 20:29
To:	#99 Tech Support,; Ale, John; Alvis, Connie; Braden, Erica; Cartier, Autumn; Cheek, Charles; Dapolite, Gail; Dodgen, Kathy; Elbertson, Janette; Esparza, Elaine; Evans, Mark (London Legal); Forsyth, Darlene C.; Fossum, Drew; Foy, Tracy; Haedicke, Mark E.; Hicks, Debra; Jebousek, Diana; Johnson, Kelly; Kumbalek, Lisa M.; Labanowski, Elizabeth; Lawless, Michelle; Lewis, Karen; Manly, Marc; Mintz, Jordan; Mordaunt, Kristina; Murray, Tanja; Newell, Eric; Nichols, Douglas; Place, Janet; Raybon, Betsy; Rieker, Paula; Rogers, Rex; Sample, Molly; Sellers, Emily; Sharp, Vicki; Wallace, Stephen; Walls Jr., Rob
Subject:	MESSAGE FROM JIM DERRICK

Please let me know what matters you currently have or have had within the last two years, with the law firm of Baker & McKenzie.

Please let me know promptly.

Jim Derrick


please work on this
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/03/2001
09:39 AM ---------------------------

Vince J Kaminski
01/03/2001 08:24 AM
To: Rick Buy/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT
Subject: Meeting with Petronas

Rick,

I was contacted by Petronas who requested a meeting
with Enron on risk  management. I have met with them
a few  years ago and they want to discuss with us
their progress implementing risk management practices.

Can we arrange for them a standard presentation, like the one we have for
banks
(you or David Port, Bill Bradford, research)?

Unfortunately, they gave us no choice as far as the timing is concerned
(given a very tight schedule). They want to visit on Thursday, Feb.  8,
at 10 a.m. I shall take them out to lunch after the meeting.

I shall also contact Jeff Shankman and John Nowlan
to arrange a short courtesy meeting with them.

Vince


Start Date: 4/5/01; HourAhead hour: 19;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040519.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 19 / Preferred:  12.00 / Final:  12.03)
  TRANS_TYPE: FINAL
  SC_ID: Wheelabrat
  MKT_TYPE: 2
  TRANS_DATE: 4/5/01
  UNIT_ID: MARTEL_2_AMFOR


---------------------- Forwarded by Richard Shapiro/NA/Enron on 04/20/2001
11:39 AM ---------------------------

"SCIENTECH IssueAlert" <IssueAlert@scientech.com> on 04/20/2001 05:35:54 AM
To:
cc:

Subject: Deal for SCE's Transmission Assets Appears Dead on Arrival

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April 20, 2001

Deal for SCE's Transmission Assets Appears Dead on Arrival

by Will McNamara
Director, Electric Industry Analysis

[News item from Reuters] California Gov. Gray Davis' billion dollar plan to
save utility Southern California Edison (SCE) from bankruptcy is in deep
trouble and could be rejected by legislators. Legislative sources said the
governor was having so much trouble gathering support for his plan that he
could not find anyone to sponsor a bill. One Assembly official called the SCE
bailout plan "the most unpopular piece of legislation in years."

Analysis: Even when this deal was announced as an "agreement in principle"
some 50 days ago, it seemed too far-fetched to be possible. The only party
that clearly seems to benefit from the agreement forged between Gov. Davis
and SCE is the cash-strapped utility. California energy customers appear to
get the short end of an expensive stick, while the state seemingly gains
nothing of value beyond what could amount to a whole new set of
administrative problems. Thus, despite the hype with which Gov. Davis
announced this rescue plan for SCE, California legislators-both Republicans
and Democrats-are saying  "not so fast" and appear to be collectively opposed
to the plan as it currently stands. As it becomes apparent that the
California Legislature will not approve this plan, the general consensus is
that Gov. Davis' offer to SCE is simply a financial bailout for the utility
that provides no benefit to California residents.

For background on the details of Gov. Davis' rescue plan for SCE, please
reference my IssueAlert from 4/11/01. In a nutshell, the state of California
agreed to buy SCE's 12,000-mile transmission grid, which covers much of the
southern half of the state, for $2.76 billion, 2.3 times the system's book
value. SCE would be allowed to use the proceeds to pay off its existing debt,
restoring it to financial stability.  Both the California Legislature and the
CPUC need to approve this deal by Aug. 15 or else the agreement is
terminated.

In the highly politicized climate under which the California energy crisis
has unfolded, it is imperative to understand the agendas that each
stakeholder possesses. For instance, keep in mind that Gov. Davis' political
career has been severely damaged by the state's energy crisis, and the fact
that Pacific Gas & Electric Co., California's largest utility company,
declared bankruptcy has only further tainted the governor's standing. Perhaps
more than any other goal, Davis wants to keep SCE from also filing for
Chapter 11 protection. In addition, Davis believes he will be better able to
solve the crisis if he assumes control over the state's transmission grid
(much like the state has assumed the role of a power purchasing agent).
Normally, a measure supported by the Democratic governor could be easily
approved by California's Democrat-controlled legislature. However, the energy
issue has divided support for Davis even within his own party. Consequently,
the governor needs the support of both Republicans and Democrats in order to
see his rescue plan for SCE pass.

For its part, there was very little reason why SCE should not have agreed to
the governor's terms. From multiple standpoints, the utility gains enormously
from the governor's offer, while at the same time it avoids lengthy and
costly bankruptcy proceedings. Under the agreement, SCE gains a method for
pulling itself out of debt, via rate increases that probably would be
implemented over the next 15 years. Further, its parent company Edison
International gets to hold on to a reported $4.8 billion that SCE has
provided to the corporate operation since 1997. (The exception to this is a
$400 million tax refund that Edison International would give back to SCE).
While Davis referred to his plan as a  "good, balanced deal," some consumer
groups have charged that SCE "has taken the governor to the cleaners."

Meanwhile, California customers clearly lose in the deal because they would
be forced to ultimately pay for the $2.76 billion that the state needs to buy
the transmission assets. The state would purchase the lines with bonds that
would be paid off by transmission fees charged to SCE customers. It is
presently not clear whether or not those fees, which are already part of
monthly bills, would be sufficient; therefore, it is likely that rates would
be increased to support the purchase. In addition, the subtext of the deal is
that customers would ultimately pay to drive down SCE's debt, which was
accumulated as a result of unrestricted wholesale power costs charged by
generators. Consequently, California customers would bear the responsibility
for prices that FERC has at times deemed "unjust and unreasonable."

Ultimately, however, it is the California Legislature and CPUC that will have
the authority to approve the agreement between Gov. Davis and SCE. These two
agencies must ultimately decide if the plan is good or bad, and weigh the
impact for various stakeholders. Presently, the legislature in particular is
finding that there are many questionable aspects about the plan. For
instance, what value would there be in the California government owning only
one portion of the state's interconnected transmission system? PGOCorp. has
walked away from the negotiating table and has expressed little interest in
selling its transmission lines to the state. No agreement with Sempra Energy
(parent of San Diego Gas & Electric) has been reached either. Thus, if the
Gov. Davis / SCE agreement is approved, the state of California would gain
ownership rights to only a portion of the overall transmission system in the
state. Many legislators challenge the value of this, especially when it is
considered that most of the congestion that leads to higher prices within the
state is concentrated along PG&E's portion of the grid. The counter-argument
to this point is that, now that its utility is in bankruptcy proceedings,
PGOmay not have the choice of whether or not to sell its transmission assets
to the state. The bankruptcy judge would make this decision. Thus, some
argue, the state may have a better chance of obtaining PG&E's transmission
assets if it can first complete a deal with SCE.

The second fundamental problem is that causing California legislators to turn
their back on the governor's plan is what some have referred to as an
"obscene bailout" for SCE and its parent company. Some reportedly believe
that Gov. Davis rushed into an overly generous offer for SCE out of anxiety
caused by the breakdown in his communications with PG&E. As noted, the $2.76
billion offer for SCE's assets is about 2.3 times their book value, so many
legislators are having difficulty reconciling what appears to be an
inappropriate price tag (and, once again, a cost that taxpayers and
ratepayers would ultimately have to absorb). Currently, SCE customers pay a
FERC-approved transmission rate based upon a cost-plus formula. If the state
pays 2.3 times book value, it would equate to ratepayers paying two times
over for those same transmission lines. In addition, some legislators,
including former Democratic allies of Gov. Davis, have suggested that SCE
should be forced to enter bankruptcy as Pacific Gas & Electric Co. has done.
Naturally, legislators will approach the issue with their constituents in
mind, knowing that they will be accountable for how they vote on this plan.
Looking at the issue from a customer perspective, one could argue that SCE
declaring bankruptcy would create less financial hardship for California
customers than bailing out the utility and increasing rates. This will be a
major political challenge for California legislators to resolve if the
governor's plan becomes sponsored as a bill.

If I pull out my crystal ball and be so bold as to make projections in this
case, I would predict that there is little chance that Gov. Davis' rescue
plan for SCE will pass in its current form. The energy crisis in California
has become so politicized that legislators will be very reticent to approve
any measure that resembles a financial bailout for one of the utilities,
especially without obtaining something of value for the state in return. It
is Gov. Davis' personal agenda to obtain control over the state's
transmission assets, but I don't see this as being a priority for other
California lawmakers. Thus, the deal will be a tough sell unless some new
development occurs that puts owning SCE's transmission assets in the state's
best interest. Considering the many headaches associated with this business,
and the fact that the state has no expertise in this area, I don't see this
occurring. Consequently, the game is by no means over for SCE and its
potential for bankruptcy does not appear to have decreased to any large
extent. One large California utility is already in bankruptcy court. We could
be only days or weeks away from seeing SCE head in that direction as well.

An archive list of previous IssueAlerts is available at
www.scientech.com

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SCIENTECH's IssueAlerts(SM) are compiled based on the  independent analysis
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regarding the key events occurring in the  energy industry, based on its
long-standing reputation as an expert on  energy issues.

Copyright 2001. SCIENTECH, Inc. All rights  reserved.


Does this statement still hold true for Columbus Southern?

Thanks.

Heather
---------------------- Forwarded by Heather Mathis/HOU/EES on 08/15/2001 01:07 PM ---------------------------

Richard Ring
05/07/2001 11:05 AM
To:	Heather Mathis/HOU/EES@EES
cc:	Janine Migden/NA/Enron@Enron, Nicole Schwartz/HOU/EES@EES, George Phillips/HOU/EES@EES, Marianne Castano/HOU/EES@EES, scofer@llgm.com
Subject:	Re: Ohio Disclosure Labels

Heather,

EESI only deliveres physical energy to customers in Ohio behind "First Energy" and only through the "MSG" program.  There should be no difference between the "projected" and "actual" labels for Columbus Southern.

Regards,

Richard

Heather Mathis
05/07/2001 10:49 AM
To:	Janine Migden/NA/Enron@Enron, Nicole Schwartz/HOU/EES@EES, Richard Ring/HOU/EES@EES, George Phillips/HOU/EES@EES, Marianne Castano/HOU/EES@EES, scofer@llgm.com
cc:
Subject:	Ohio Disclosure Labels

June 1 is fast approaching, and as I understand it, we are responsible for providing actual versus projected label information in the state of Ohio.  I know that the projected labels have been completed, and now I must gather the actual information for first quarter of 2001.  It is my understanding that FE/MSG will be providing us this information on actuals for the customers we have there, but who provides the info for Columbus Southern?  If I am incorrect in any of these assumptions, please let me know.  Thank you for your assistance on this matter.

Heather

<Embedded StdOleLink>


sure

 -----Original Message-----
From:  Jones, Tana
Sent: Friday, May 11, 2001 12:00 PM
To: Rohauer, Tanya
Cc: Shackleton, Sara
Subject: The ISDA Hit Parade

On the ISDA replacement front, just a reminder that we want to put Morgan
Stanley Capital Group at the forefront, we have an old Energy Price Swap
Agreement in place with them, and then there's always our favorite, the old
AIG "Master Master", now with Sempra, that raises a whole host of other
issues...you were going to talk to Bill about that one...

Do you want me to put them on the list for the Legal/Credit meeting as a
reminder?


Total
Ctrc #	Shipper		MDQ		Term Date	ROFR	Rate

26758	Duke Energy Trading	40,000	4/30/2005	yes	0.1112
26813	North Star Steel		3,500		2/28/2008	no	0.1925
26819	Reliant Energy Services	10,000	4/30/2005	yes	0.1200
26816	Sempra Energy Trading	21,500	4/30/2005	no	0.1700
26719	Southern Energy 		25,000	4/30/2005	no	0.2050

-----Original Message-----
From: Hayslett, Rod
Sent: Wednesday, November 21, 2001 11:00 AM
To: Lokay, Michelle
Cc: Harris, Steven; Geaccone, Tracy; Corman, Shelley
Subject: RE: Additional TW information request

Can you do the gallup contracts as well
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


FYI.   You got it!
---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/12/2000
01:33 PM ---------------------------

John Gillespie
12/12/2000 09:03 AM
To: Rod Hayslett/FGT/Enron@ENRON
cc: peter.w.buettgen@us.arthurandersen.com

Subject: Re: Invitation - John Gillespie re IBUYIT (here) (13 Dec 08:30 AM
CST)

Rod,

After receiving feedback from both yourself and Phil Lowry through George
Wasaff, we will cancel this meeting. Originally Peter Buettgen and I were
anticipating the need to share the details of our process assessment strategy
with you prior to our kickoff. However, it has been pointed out that Morris
has been identified as the lead player and has responsibility for all
decision making. Therefore we will be working directly with Morris and will
not burden you with details unless Morris feels appropriate.

Thank you for your support and commitment in the completion of the iBuyit
process assessment.
John

New meeting request from Rod Hayslett

  12/13/2000 08:30 AM Local Time
  12/13/2000 09:00 AM Local Time

Title: John Gillespie re IBUYIT (here)
Location:  -No room information available-

Chair:  Rod Hayslett/FGT/Enron

To (required): Morris Brassfield/OTS/Enron@ENRON, John Gillespie/Corp/Enron
cc (optional): Kathy Campos/GPGFIN/Enron

John: Morris can't make this time and he needs to be in it.


I understand that some people had trouble with the links that were sent out
last Friday, therefore attached is a scanned version of the article:


Here are proposed revisions.  Give me a call after you have reviewed. Thanks

	Richard Ring@EES 05/15/2001 09:07 AM 	   To: Joe Gordon/Enron@EnronXGate, Elizabeth Sager/HOU/ECT@ECT  cc:   Subject: EESI & EPMI Confirmation Agreement (NYSEG PJM Renewable Attributes)

Joe & Elizabeth,

I received the revised document from Will Frederking, EESI Legal which is attached for your reference.  The only items that have been changed are in Special Conditions:
Second Sentence was divided into four parts (i), (ii) (iii) & (iv)
Ninth line "or representations" was added after the words "any Affidavits"
Sixteenth line "upon written request from EESI" was added after the words "between NYSEG and EPMI, and"

Joe,  my proposal for Contract Price section is to complete with $3.65 / MWh.

Will provide the payments, billing and notices information as soon as I receive from EESI Legal Department representatives.

Let me know what you think.

Regards,

Richard

---------------------- Forwarded by Richard Ring/HOU/EES on 05/15/2001 08:57 AM ---------------------------

William Frederking
05/14/2001 06:12 PM
To:	Richard Ring/HOU/EES@EES
cc:
Subject:	NYSEG

Attached is a clean version of the EPMI Confirmation Letter.  I was unable to run a blackline.  We can try again tomorrow if we need to.  Please help with the notice info on the last page.

Will


Looks like NatWest's cross-complaint against Farallon's fund managers may
hold up at the pleading stage.? See below.

-----Original Message-----
From:?? Bhalla, Sabina
Sent:?? Friday, September 22, 2000 12:03 PM
To:???? Howard, Steve
Subject:??????? Farallon Demurrer hearing

This morning I attended the hearing on Cross-Defendants demurrer to Natwest's
Cross-Complaint.? The judge permitted extensive oral argument from Bruce
MacLoed representing Farallon and Oaktree, and Jim Wines representing
Natwest.?

Judge Berle was extremely active in asking questions to each party.? He was
primarily concerned with the relationship between the fund managers and
Oaktree and Farallon, and whether that was a fiduciary relationship, and if
so, what level of fiduciary duty was owed (he seemed inclined to leave this
issue for summary judgment).? The Cross-Defendants argued that if this suit
was to go forward, it would create a disincentive for fund managers to report
fraud, since the? fund managers may ultimately be personally liable.?

Judge Berle asked Natwest if this was more of an affirmative defense instead
of a cross claim, which was being used to diminish Plaintiffs complaint.?
Natwest stated that the fiduciaries were liable for not investigating.?
Farallon/Oaktree admitted that it has imputed any negligence and actual
knowledge from the fund managers to itself, and that Defendants are entitled
to an offset.? Interestingly, Plaintiffs stated that the fund managers were
damaged themselves, since they did not receive a bonus etc.??

The Judge seemed inclined to permit a demurrer to the contribution cause of
action, since Natwest did not really defend that cause of action separate
from the indemnity action.?

Natwest pointed to a case Platt v. Coldwell Banker 217 Cal. App.3d 1439,
which Natwest claimed, allows the fund managers to be sued independently.? A
cross action is permitted if the Plaintiffs could have brought the same
claims against the fund managers, and Natwest argued that the Plaintiffs
could have brought such a claim.? Finally, Natwest said it would be
prejudiced if it could not "point the finger" at the highly paid investement
manager.? According to the Platt case, a nonparty witness is very different
than a potential indemnitor who is sitting at the table at trial.??

???
The judge said his ruling would occur before Oct. 10.? Legg Mason
Cross-Defendants have until that time to file a response to the
cross-complaint (that was what the ex parte application was about).

This e-mail message may contain legally privileged and/or confidential
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When: Friday, January 11, 2002 3:30 PM-4:30 PM (GMT-06:00) Central Time (US & Canada).
Where: ECS -05990

*~*~*~*~*~*~*~*~*~*


Hello Mike Swerzbin,

RWR would like to welcome you again to our second edition of Sound Energy.  You will receive this publication on a free trial basis for the next 45 days.

Every two weeks, we look at energy companies and sectors that strive to make energy more efficient or the environment cleaner.  These
sectors include renewable energy (including wind and solar power),
distributed generation (fuel cells and microturbines), and power
semiconductors.

This edition includes:
- Feature Article:  Is Wind Still Blowing?  A closer look at the U.S. wind market.
- Overview of renewables, distributed generation and power semiconductor sectors.

Download this report from the Reed Wasden website.  If a link does not appear above please goto http://www.reedwasden.com/members/download.asp?ID=108&email=mike.swerzbin@enron.com to download the report.

Thank you,
The Sector Reports Team

As always, we welcome any feedback on our research including questions and opinions.  To be removed from this mailing, reply to this email with 'UNSUBSCRIBE-Sector Reports' in the subject field.


This may have been announced while I was travelling, but I heard last Friday
that Frank Blake has been offered, and accepted, the position of US DOE
Deputy Secretary.  Frank was General Counsel of the EPA in the second Reagan
Administration, then went to work for GE Power Systems in Schenectady NY.
Most recently, he has been posted to Fairfield, Conecticut, I am told, where
he was working on the GE/Honeywell merger.  mcs


Sounds good.  I will look for the overnight.


Louise --

I need to understand exactly what data is and what data is not being transferred from Enron to UBS.  If any of the data is viewed by FERC as being jurisdictional assets, than Enron would need to inform FERC of that transfer before the transfer.  Clearly, customer specific data will create more issues than generic market information.  I need to check what happens if you have deleted the counterparty names but still show detailed trading data.

Who can help me get a better handle on this on Monday?

Also, I understand the "adoption" by UBS of Enron contracts.  Initially I was under the impression that this was simply a "review".  Again, any transfer of a jurisdictional asset would result in a 203 application by Enron.  I have seen one draft of the Interim Agreement, but assume that you would do this for EEI and other physical contracts.  Am I right?

Thanks,

Jim

----Original Message-----
From: Kitchen, Louise
Sent: Friday, February 01, 2002 3:49 PM
To: Steffes, James D.; Forster, David
Subject: RE: Description of UBS Deal

Its non specific - the trades are there but with no counterparty names.

-----Original Message-----
From: Steffes, James D.
Sent: Tuesday, January 29, 2002 8:25 AM
To: Kitchen, Louise; Forster, David
Subject: RE: Description of UBS Deal

The Master Agreement and License Agreement mention that you have "Customer Data".  Is this wrong?

Jim

-----Original Message-----
From: Kitchen, Louise
Sent: Tuesday, January 29, 2002 6:46 AM
To: Steffes, James D.; Forster, David
Subject: RE: Description of UBS Deal

Simply

People, systems and floor space.

Back to front applications with no specific counterparty data.  WE have historical pricing etc but no counterparty names.  You could get most of it from Reuters.

-----Original Message-----
From: Steffes, James D.
Sent: Mon 1/28/2002 1:59 PM
To: Forster, David; Kitchen, Louise
Cc:
Subject: Description of UBS Deal

How would you describe (in terms that a regulator would understand) what is transfered to UBS?  I am asking because I want to make sure that I have a good grasp of what is going to UBS before our FERC pre-meeting.

My understanding is that we are providing software code to is used (a) for all backoffice applications and (b) for a trading platform.  Anything else?

Jim


Thursday Am is fine.  I will try to be home by 7 on Thursday.
Carol


Start Date: 10/26/01; HourAhead hour: 13;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001102613.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/26/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: CISO_EPMI_APS
  ENGY_TYPE: NFRM


Kim, thanks for the phone message last week. We are excited to have you back
in Houston. Can't wait to "pop in" on you Sunday evenings with a bottle of
bubbly or fine wine...

Got your Christmas e-mail. Could you tell us the address to send the check?
Thanks.

Hope you had a wonderful Thanksgiving.

Mike


hi- not sure if you saw this with all the crap going on lately or have seen these contracts trading..one of the traders in Calgary called me Friday- one of his clients called asking about this indirectly.. said that he had heard of a $1B fund that was being set up to replicate the index.. the index is 17.7% nat gas (the highest % of any commodity).. the client wondered if that had anything to do with the nat gas rally!  i am trying to find out info on this $1 B fund.. no luck yet.. it would have a nice impact on the market if the fund had to buy 177M of nat gas contracts- 17,700 contracts in first 2 months..look at the 2 websites- www.nybot.com <http://www.nybot.com> (the futures and options) are traded there and the s+p site www.spglobal.com <http://www.spglobal.com>... the way they manage the futures is interesting..

basic weightings:

energy: 44.29% (natty-17.7, unleaded-9.7%, heat- 12.9, crude-4.12)

grains- 19.28%

meats- 10.98%

metals- 7.96%

softs- 11.98%

fibers- 5.51%

please let me know if you have any info on this.

thanks, c

S&P and NYBOT Launch New Index Futures and Options Contracts

New York, NY, October 19, 2001 - The New York Board of Trade (NYBOT)
, in partnership with Standard & Poor's, began trading futures contracts this morning on the S&P Commodity Index (SPCI) - a new standard for commodities pricing. Officials from the New York City Mayor's Office for Economic Development as well as NYBOT and Standard & Poor's presided over the launch.

Standard & Poor's, a leading provider of global financial information and investment analysis, and the New York Board of Trade, a global marketplace for alternative investment products, developed the SPCI to bring greater definition to traded commodities as an investable asset class. The SPCI was introduced at a ceremony at NYBOT on August 9, 2001. The SPCI futures and options allow managers and investors to add real diversification to their portfolios through a single, transparent access point to the investment opportunities found in commodity futures markets.

"The launch of this new product so soon after the events of September 11, and on a trading floor so imaginatively developed before the event, allowing NYBOT to start trading so soon after the loss of its facility in lower Manhattan, is a testament to the strength and the resilience of New Yorkers," said Michael G. Carey, President, New York City Economic Development Corporation. "Let no one doubt that New York is and continues to be the financial and trading capital of the world."

"To contribute successfully to long-term portfolio goals, an alternative asset should have certain key characteristics, namely a proper benchmark, transparency, liquidity, simplicity, cost efficiency and flexible trading capabilities," said NYBOT President and CEO Mark D. Fichtel. "SPCI futures and options are among the few investment instruments that meet all the criteria for a real alternative asset. We believe that these new contracts will prove particularly valuable to investors and managers who need alternative investment strategies in these difficult economic times."

The NYBOT SPCI futures contract lists six active contract months (January, February, April, June, August, November). Expiration is the second Friday of the listed futures contract month, and the contract is cash settled. The futures contract is valued at $100 x the Index (current contract value approximately $100,000). Trading hours initially will be 10:00 AM to 4:00 PM (New York Time). Options on futures are also offered (see contract specifications).

"SPCI futures and options give investors a direct means to obtain exposure to a diversified commodity basket," said Robert Shakotko, Standard & Poor's Managing Director of Index Services. "Investors around the world recognize the S&P reputation for equity indices and index products. We now bring these same business strengths to commodities."

The SPCI tracks 17 commodities in six sectors including grains, meat and livestock, metals, softs (coffee, sugar, cocoa), fibers, and energy. The index utilizes real-time prices of the relevant futures contracts traded on the commodities futures markets in New York and Chicago. Key features of the SPCI include its geometric calculation methodology and a weighting adjustment that eliminates double counting of upstream and downstream commodities.

The new SPCI futures and options contracts will support and enhance other index-linked investment products. They offer an easy and efficient way to manage commodity index funds, commodity-linked insurance products, or commodity exposure in multi-asset products. As with its equity indices, Standard & Poor's has initiated a licensing program for the SPCI directed at financial institutions that might use the new commodity index as part of an innovative investment product.

End-of-day index values and index history are available through both the S&P Index Services website at www.spglobal.com <http://www.spglobal.com/indexmaincommodity.html> and NYBOT's Website at www.nybot.com <http://www.nybot.com/>. The SPCI is calculated every 15 seconds and is available through traditional real-time quote vendors via the NYBOT; the ticker symbol will be 'I'.

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), provides independent financial information, analytical services, and credit ratings to the world's financial markets. Among the company's many products are the S&P Global 1200, the first real-time, global equity index, the S&P 500, the premier U.S. portfolio index, and credit ratings on more than 220,000 securities and funds worldwide. With more than 5,000 employees located in 18 countries, Standard & Poor's is an integral part of the world's financial architecture. For more information, visit the Standard & Poor's Website at www.standardandpoors.com <http://www.standardandpoors.com/>.

The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges and their subsidiaries and divisions NYBOT offers an expanding range of agricultural, currency and index products. Information about the New York Board of Trade can be found at www.nybot.com <http://www.nybot.com/>.


The New Options Model meeting will be held in EB3125b.
---------------------- Forwarded by Tamara Jae Black/HOU/ECT on 05/22/2001
04:34 PM ---------------------------

Tamara Jae Black
05/22/2001 04:21 PM
To: Rudy Acevedo/HOU/ECT@ECT, Diana Allen/Enron@EnronXGate, Russell
Ballato/NA/Enron@Enron, Ted Ballinger/Enron@EnronXGate, Don
Baughman/HOU/ECT@ECT, Edward D Baughman/Enron@EnronXGate, Corry
Bentley/HOU/ECT@ECT, Robert Benson/Corp/Enron@ENRON, Tamara Jae
Black/HOU/ECT@ECT, Lisa Burnett/Corp/Enron@Enron, Paul J
Broderick/HOU/ECT@ECT, Richard Broussard/Corp/Enron@Enron, Larry F
Campbell/NA/Enron@Enron, Mike Carson/Corp/Enron@Enron, Jason
Choate/Corp/Enron@ENRON, Kevin Cline/Enron@EnronXGate, Terri
Clynes/Enron@EnronXGate, Keith Comeaux/Corp/Enron@Enron, Karla
Compean/Enron@EnronXGate, Kayne Coulter/HOU/ECT@ECT, Oscar
Dalton/Enron@EnronXGate, Mark Dana Davis/HOU/ECT@ECT, Clint
Dean/Corp/Enron@Enron, George Diaz/Corp/Enron@ENRON, Chris
Dorland/HOU/ECT@ECT, Joe Errigo/Corp/Enron@Enron, Miguel L
Garcia/NA/Enron@ENRON, Gerald Gilbert/HOU/ECT@ECT, Doug
Gilbert-Smith/Corp/Enron@ENRON, Gautam Gupta/HOU/ECT@ECT, Patrick
Hanse/HOU/ECT@ECT, Juan Hernandez/Corp/Enron@ENRON, Rogers
Herndon/HOU/ECT@ect, Jim Homco/HOU/ECT@ECT, Rika Imai/Enron@EnronXGate, Larry
Jester/Enron@EnronXGate, Gary Justice/Enron@EnronXGate, Mike E
Kelly/Enron@EnronXGate, Grace Kim/Enron@EnronXGate, Jeff
King/Corp/Enron@Enron, John Kinser/HOU/ECT@ECT, Madhup
Kumar/Enron@EnronXGate, Dean Laurent/HOU/ECT@ECT, Justin
Laverell/Corp/Enron@ENRON, Chris Lenartowicz/Corp/Enron@ENRON, Matt
Lorenz/HOU/ECT@ECT, Gretchen Lotz/HOU/ECT@ECT, Peter Makkai/NA/Enron@Enron,
Tom May/Corp/Enron@Enron, Doug Miller/Corp/Enron@Enron, Jeffrey
Miller/NA/Enron@Enron, Narsimha Misra/NA/Enron@Enron, Christi L
Nicolay/HOU/ECT@ECT, Steve Olinde/Corp/Enron@Enron, Andy
Pace/Enron@EnronXGate, Juan Padron/NA/Enron@Enron, Laura
Podurgiel/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Joe Quenet/NA/Enron@Enron,
David Ryan/Enron@EnronXGate, Eric Saibi/Corp/Enron@ENRON, Anna
Santucci/Enron@EnronXGate, sscott3@enron.com, Erik Serio/Corp/Enron@Enron,
Doug Sewell/Enron@EnronXGate, Lisa Shoemake/Enron@EnronXGate, Robert
Stalford/NA/Enron@Enron, Chad Starnes/Corp/Enron@Enron, Joe
Stepenovitch/Corp/Enron@Enron, Mark Symms/Enron@EnronXGate, Ramanarao
Tamma/Enron@EnronXGate, Garrett Tripp/TOR/ECT@ECT, Larry
Valderrama/Enron@EnronXGate, Maria Valdes/Corp/Enron@Enron, Joseph
Wagner/NA/Enron@Enron, Christopher Watts/NA/Enron@Enron, Lloyd
Will/HOU/ECT@ECT, Smith L Day/HOU/ECT@ECT, John M Forney/NA/Enron@Enron, Andy
Rodriquez/Enron@EnronXGate, Claudia Guerra/Enron@EnronXGate, Benjamin
Rogers/HOU/ECT@ECT, Clayton Vernon/Enron@EnronXGate, Fletcher J
Sturm/HOU/ECT@ECT, Mauricio Trejo/Enron@EnronXGate, Dustin
Collins/HOU/ECT@ECT, William Abler/Enron@EnronXGate, Steve
Wang/Enron@EnronXGate
cc:
Subject: New Options Model

---------------------- Forwarded by Tamara Jae Black/HOU/ECT on 05/22/2001
04:18 PM ---------------------------
From: Steve Wang/ENRON@enronXgate on 05/22/2001 04:17 PM
To: Tamara Jae Black/HOU/ECT@ECT
cc:
Subject: New Options Model

Meeting on May 30 at 3:30pm regarding the new Option Model we (Steve Wang,
Harry Arora, and Rob Stalford) use to make markets.  The old structuring
model was created for marketer to give indicative pricing.  I have created
this model especially for option market making.  As market makers we found
the old model too slow as we are often making bid/offers in more than five
strikes in more than five different months.  This model allows us to make our
markets quicker and identify mispricings in the market before our
competitors.  This is not to replace the old structuring model.  It is only a
complement that will give everyone a better picture of where options are
trading and where bid/offers are.  We will publish these prices weekly and
will eventually have them on a daily basis.

You will need special permission to access the files located in
M:\power2\Options.  Let me know if you want access to this folder.  The
following people already have access:

Ahn, Christopher
Ballato, Russell
Baughman, Ed
Benson, Rob
Broderick, Paul
Carson, Mike
Clynes, Terri
Curry, Mike
Dalton, Oscar
Davis, Dana
Dean, Clint
Dorland, Chris
Forney, John
Gilbert-Smith, Doug
Gupta, Gautam
Jester, Larry
Kelly, Michael
King, Jeff
Lorenz, Matt
Presto, Kevin
Quenet, Joe
Scheuer, Janelle
Sewell, Robert (Doug)
Sturm, Fletch
Tingleaf, Drew
Valderrama, Larry
Valdes, Maria
Wheeler, Raymond

Thanks
Steve Wang


Anne,

I just got another phone call from Palo Alto.  They still have not received three of their confirms from deals done around the 20th of July.  They have ceased to do additional business with us until they receive these confirms.

thanks,

Kim


John,
I talked with Janet last week and then I was out sick.  I left her a
voicemail before lunch and am waiting on her reply.
m

John L Nowlan
11/13/2000 04:09 PM
To: Mike McConnell/HOU/ECT@ECT
cc:
Subject: Jannell Schuerer

Jannell grabbed me today to ask where we stand as I think she still has an
interest in coming to our group. I asked her if she had been contacted by
anyone in power marketing and she has not. Could you have Janet talk to her
so we can either move forward or move on. thanks.


Howard,

Thanks for the message and the paper.
We shall hold an internal  follow-up meeting next Monday to
review potential projects on which we could cooperate in
the future.

Vasant and I will contact you to discuss our recommendations
regarding the future research agenda.

Vince

"Kunreuther, Howard" <kunreuth@wharton.upenn.edu> on 12/14/2000 10:07:11 AM
To: "Bouillion (E-mail)" <james.l.bouillion@enron.com>, "Carrick (E-mail)"
<george.carrick@enron.com>, "Hoog (E-mail)" <david.hoog@enron.com>, "Kaminski
(E-mail)" <vkamins@enron.com>, "Vasant (E-mail)" <vshanbh@ect.enron.com>
cc: "Doherty, Neil A" <doherty@wharton.upenn.edu>, "Kleindorfer, Paul"
<kleindorfer@wharton.upenn.edu>, "Thomas, Louis A"
<thomas@wharton.upenn.edu>, "Weigelt, Keith W" <weigelt@wharton.upenn.edu>
Subject: Working with ENRON on catastrophic risk

Dear Vince, Jim, George, David and Vasant:

Neil Doherty, Paul Kleindorfer and I very much enjoyed our discussion last
Wednesday at Wharton  with you on future joint research  with Enron over the
coming year. In particular, we see the whole area of capital management and
catastrophic risk as a fruitful area for foint collaboration. I am sharing
this message with Louis Thomas and Keith Weigelt who direct the FAP MBA
program in the hopes that we can find a team to work with us on these issues
next semester.

Attached is a revised version of our paper on "Evaluating Risk Bearing,
Mitigation and Risk Transfer Using Exceedance Probability Curves: Project
Update".   We would greatly appreciate you and your colleagues looking at the
section on "Cat Bonds Covering Multiple Risks" (pp. 15-19) to see whether our
example and conclusions make sense to you. We look forward to working with
your team at Enron   regarding ways that we can build on these preliminary
findings to make cat bonds for weather risks  more attractive.

Best wishes for the holiday.

Regards,

Howard
 Howard Kunreuther
Cecilia Yen Koo Professor of Decisions Sciences and Public Policy
Chairperson   Operations and Information Management Department
1326 Steinberg Hall-Dietrich Hall
Wharton School
University of Pennsylvania
Philadelphia, PA 19104-6366
Phone:215-898-4589
FAX:215-573-2130
Email:kunreuth@wharton.upenn.edu

 - EPCurvePaper-FINAL-D10.doc


To all supervisors of Associates and Analysts

The Associates and Analysts will be divided into 4 final ranking meetings for the mid-year 2001 PRC.  These meetings are scheduled as follows:
EES Associate & Analyst Final Meeting - June 8
EBS Associate & Analyst Final Meeting - June 19
EWS/Others* Associate & Analyst Final Meeting - June 25
EA Associate & Analyst Final Meeting - July 9

*(EWS/Others includes Associates and Analysts from EWS, EGM, APACHI, CALME, CORP, ECM, EIM, EIP, ENW, ESA, ETS, EOTT, HPL, PGE, EWC, Japan, and EnronCredit).

The Associates and Analysts will be ranked within the following Peer Groups:
Analyst 1 - Analysts with up to one year of service (hired between 3/1/00 and 2/28/01)
Analyst 2 - Analysts with greater than one year of service (hired prior to 3/1/00)
Associate - All Associates hired prior to 3/1/01

Associate and Analyst Ranking Process
Analysts and Associates hired on or after 3/1/01, will receive feedback only, all others will receive both a PRC ranking and feedback.
Each Business Unit Supervisor will be responsible for providing a pre-ranking to the PRC Rep.  The PRC Reps have access to the consolidated feedback for each assigned Associate and Analyst.  Please be sure that you have met with the assigned PRC Rep prior to the final Associate and Analyst meeting for your business unit.  (Your business unit HR department may choose to set up pre-ranking meetings - check with your HR representative).  The final ranking for each Analyst an Associate will be determined through a cross calibration in each of the final meetings.  In these final meetings, the Analysts and Associates will be represented by a PRC Rep from their Business Unit who should be familiar with their accomplishments.

Associate and Analyst PRC Reps
Please refer to the attached spreadsheet for a list of Associates and Analysts who will be ranked in these meetings and their PRC Reps.

Contact me at extension 35230 if you have any additional questions.

Terry Bosien
HR Manager, Associate and Analyst Program


Both assignment letters were mailed today by certified mail.

Linda S. Bryan
Ext. 3-3538

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Tuesday, November 13, 2001 1:56 PM
To:	Bryan, Linda S.
Cc:	Hall Jr., Robert L.
Subject:	RE: Assignment Letters

Attached are the consent to assignment letters. We will need two executables of each.  Let me know if you will be the one sending these out for execution.

 << File: Consent(LGS).doc >>  << File: Consent(NOPSI).doc >>

 -----Original Message-----
From: 	Bryan, Linda S.
Sent:	Tuesday, November 13, 2001 11:14 AM
To:	Nemec, Gerald
Subject:	Assignment Letters

What is the status on the assignment letters assigning the LGS Natural Gas Co. and Entergy New Orleans contracts to Bridgeline?

Linda S. Bryan
Ext. 3-3538


plz call asap re: mary hain.  thanks, jeff  415.782.7822


The above referenced meeting has been cancelled per Julie Gomez, however Ed
Gottlob would like to still meet with you during this time.

Wednesday, September 20th
3:00 - 4:30 pm
EB38c2

Please call me if you have any questions/problems.

Laura Harder
Ext 3-1994

---------------------- Forwarded by Laura Harder/Corp/Enron on 09/18/2000
01:15 PM ---------------------------

Laura Harder
09/18/2000 01:14 PM
To: Pat Clynes/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT, Steve
Hotte/Corp/Enron@ENRON, Savita Puthigai/NA/Enron@Enron, Jackie
Morgan/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT,
Jennifer deBoisblanc Denny/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT
cc: Heather Choate/HOU/ECT@ECT, Rita Houser/GPGFIN/Enron@ENRON, Kim
Weldon/Corp/Enron@Enron, Cecilia Olvera/HOU/ECT@ECT

Subject: EOL Transaction Walk-Thru Meeting

Please be advised that the above referenced meeting, scheduled for this
Thursday 9/20 from 3::00-4:30, has been cancelled and will be rescheduled at
a later date.  We apologize if this causes you any inconvenience.

Laura
Ext 3-1994


The attached is a pretty decent summary of the recent U.S. Supreme Court's
opinion on the Clean Water Act's juridictional reach to isolated waters.
Thought it might be of interest to origination/developer type lawyers.

Steve
----- Forwarded by Steve Van Hooser/HOU/ECT on 01/18/2001 09:02 AM -----

	"Jack Mingus" <JBM@vnf.com>
	01/17/2001 08:03 AM

		 To: undisclosed-recipients:;
		 cc:
		 Subject: Analysis of the Supreme Court's January 9, 2001 SWANCC Decision

Attached is a brief memo prepared by Van Ness Feldman analyzing the U.S.
Supreme Court's January 9, 2001 decision in the case of Solid Waste Agency of
Northern Cook County v. U.S. Army Corps of Engineers (No. 99-1178 (U.S.
January 9, 2001)).  By a vote of 5 to 4, the Court determined that "isolated"
waters (often wetlands) are not subject to regulation under the Clean Water
Act (and the Section 404 permitting program).  This decision has significant
implications for anyone who is, or will be engaging in the construction of
generating facilities, transmission lines, factories, houses, pipelines, or
similar projects.

Van Ness Feldman will be providing our friends and clients with periodic
updates on breaking legal and legislative activity throughout the remainder
of 2001.  If you would like to be removed from this distribution list, please
respond to this e-mail and let us know.

 - SWANCC.doc
 - SWANCC.wpd


Thanks for sending the announcement to me.  You will be a great asset to
EBS.  And you will probably be working with some of our old Energy Operations
staff members!  Stay in touch and I wish you the best in your new role.
--Sally

From: Inja Chun@ENRON COMMUNICATIONS on 11/21/2000 05:08 PM
To: Dan Bruce/HOU/ECT@ECT
cc: Sue Klinke/Enron Communications@Enron Communications, Everett
Plante/Enron Communications@Enron Communications, Christopher B
Hunt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sally Beck/HOU/ECT@ECT, Stephen
Schwarz/Enron Communications@Enron Communications, Glenn Winship/Enron
Communications@Enron Communications, Michael
Gantt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bob M Hall/NA/Enron@ENRON, Lou
Casari/Enron Communications@Enron Communications, Rich Hall/Enron
Communications@Enron Communications
Subject: Announcement - Inja Chun

Thank you very much for sending out your nice note about my new position in
EBS.  I greatly enjoyed working for you and hope that we can stay in touch in
the future.  Thank you again.
     Best regards,
     Inja Chun
----- Forwarded by Inja Chun/Enron Communications on 11/21/00 05:02 PM -----

	Dan Bruce@ENRON
	Sent by: Enron Announcements@ENRON
	11/21/00 04:08 PM

		 To: ENW-Employees
		 cc:
		 Subject: Announcement - Inja Chun

Please join me in congratulating Inja Chun on her new position with EBS.
Inja has made numerous contributions to Enron's information technology, most
recently helping to develop a new e-Commerce venture for Enron in Korea.  We
would like to wish her success in her new endeavor where she will be working
on the development of new systems for EBS and express our appreciation for
her 5+ years of service in Enron Net Works.

Dan Bruce


We negotiated the following discounts on Tenn and TGT

Tenn - all discounts are for the 27th only.

Z0 to Kinder k#2891	$.1421
Z0 to Tewksbury (Z6) k#2891  $.35

Texas Gas - discounts apply from 26th-30th.
SL Pool to Mamou k# T001886   $.0421


Thanks for the update.  It is disappointing that AGA is not opening the process, although the final EISB Retail Gas standards will need to be vetted by an ANSI group so we'll get our comments in one way or the other.

Also, what are we doing to get the different states to adopt these protocols across the board?  Seems like pushing NARUC to agree that this is the right vehicle makes sense.

Thanks,

Jim

 -----Original Message-----
From: 	Hetrick, Nancy
Sent:	Monday, October 22, 2001 10:49 AM
To:	Steffes, James D.; Yeung, Charles; Kingerski, Harry; Nicolay, Christi L.; Cantrell, Rebecca W.; Shelk, John; Novosel, Sarah
Cc:	Shapiro, Richard
Subject:	RE: EISB and Enron

Our UBP group met for two days last week in St. Louis, along with GISB and AGA reps.  UBP is definitely on board with creating the retail electric quadrant of an EISB.  We have been working extensively on getting the membership in line with a national organization.  Attached is a "draft" governance document that was completed at our meeting last month.  When this document was initiated, we were unsure of the progress to an EISB and it was developed to accommodate either a stand-alone retail organization until the EISB was formed or to be used as a part of the EISB organization.  AGA has been off on their own developing details for the retail Gas quadrant of EISB.  We have been very vocal in stating that they cannot develop these documents in a vacuum with only gas utility representation; they must reach out to Suppleirs, Services, etc.  The AGA member told us at our meeting that they plan to have an open meeting sometime in November to gain input.  We'll wait and see how that develops.  A Virginia SCC staff member is also working to get us some time in front of the Electricity Committee to update them on our progress and continue to foster their support of our endeavor.  Please feel free to let me know if you have any questions.  Thanks.
 << File: RESB_CLEAN_STL_101101.doc >>

Nancy A. Hetrick
Enron Corp.
Director, Government Affairs
Phone:  712-366-3399
Pager:   888-912-1426

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Friday, October 19, 2001 11:34 AM
To:	Hetrick, Nancy; Yeung, Charles; Kingerski, Harry; Nicolay, Christi L.; Cantrell, Rebecca W.; Shelk, John; Novosel, Sarah
Cc:	Shapiro, Richard
Subject:	EISB and Enron

Nancy, etal --

With the discussions at NERC recently to broaden their role, I think that we need to be very coordinated on our EISB message and begin to figure out how we get AGA to work with the Retail Gas and EEI/UBR to work with the Retail Power quadrants.  Let's think about a NARUC message to drive this very quickly (maybe at the next meeting).

Having one body begin to coordinate all of these matters will greatly expand our policy reach.

Thanks,

Jim


Here is the draft procedures that I sent you back in September.  It does not
incorporate the changes that you sent
us a few days latter.  I will forward a copy of that memo also.  We are
looking forward to getting with you to discuss the
procedures and timing.

Ruth
---------------------- Forwarded by Ruth Concannon/HOU/ECT on 11/28/2000
06:25 AM ---------------------------

	Enron North America Corp.

	From:  Ruth Concannon                           09/28/2000 11:38 AM

To: mrosenberg@sithe.com, joliver@sithe.com, bhughes@sithe.com,
bfernandez@sithe.com, lmessina@sithe.com, slee@sithe.com, jmaher@sithe.com,
bscherfling@sithe.com, mgrady@sithe.com
cc: Jeff Donahue/HOU/ECT@ECT, Todd Busby/NA/Enron@Enron (bcc: Ruth
Concannon/HOU/ECT)
Subject: Procedures for Incremental Empire Gas for On-Peak Day Ahead Market

Marty suggested that I get these discussions kicked off on your side while he
was
out-of-town today.  Basically, I started off with your proposed procedures
and made
a few changes that Enron needs to make sure that right amount of gas shows up
at the
correct time.

Also, we are suggesting a confirmation form be sent back and forth between
Enron and
Sithe every day.  This will help document all the small little details and
costs so that we
both drop anything through the cracks.  I am suggesting that we e-mail this
confirm form
to the right folks in both our companies, so that no one is left out of the
loop.

You will also notice our attempt to make sure that everyone has a clear
understanding
of exactly what is included in the numbers that are reported to Enron's
traders.  The timing
of your calls will be when everyone is very busy in our trading group.  There
will not be much
time to have long conversations, but it is very important that everyone have
the same
understanding what the numbers mean.

Please take a look at this on your side and see if there are some other
things that need to
be included.

Thanks,

Ruth


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kate,

apparently tfs has left without checking out.  just wanted to let you know.

thanks!

kerri


you always think that i am lying.


Mark, I had O&M do a little research on how much we spent in 99 and the
numbers aren't that far off the numbers that were noted on us, which leads me
to believe the competitors numbers a little more. Look at the spreadsheet
below.  While our Corp spending was small, over we spent almost $800,000 as
Enron in whole and that is probably what they were noting.  (I subtracted
Axurix out -  that is why the number dropped from 1.1 Million).

Margaret,

Per our conversation last week, attached is a chart for that outlines Enron's
spending in 1999.  The total is $1,175.8M net.

Please feel free to contact me if you have any questions or require any
additional information.

Cordially,

Karen M. Henry
646-756-4864

(See attached file: Final spending.xls)

 - Final spending.xls

	Mark Palmer
	10/04/2000 07:17 PM

		 To: Margaret Allen/Corp/Enron@ENRON
		 cc: mpalmer@enron.com, Steven J Kean/NA/Enron@Enron
		 Subject: Re: competitive advertising spending

Have a hard time with the source of these numbers if they think we're doing
$850K in print.  What's the source?

Mark


Deer All:

I have a person that might fit what we are looking for in the 8th spot or to
fill a gap left by Joe (who is currently unable to provide a firm response).

B.J. Johnson. Played football with Chad and I at Jesuit. Was a year a head
of us. Met Zander at UH in College and hung with he and Brian while they
were rooming together. Went to lawschool a few years after me. Is out and
doing well with at a well known plaintiff's lawfirm.
Nice guy. He mentioned a year or so ago to call him if we ever had a spot.
His dad used to take him hunting and BJ wants to return the favor. Looking
for a place he could take his dad once or twice a year, just to get out
there not to shoot deer. He has two small girls, is busier than I am and
would go no more than the rest of the Houston boys.

He is a good guy. Don't know much about his deer hunting experience, but I
don't care about that.

Chad and Brian give him the stamp of approval. My thought is we could
proceed as set with Chris and I splitting the 8th spot, but if Joe winds up
taking a job out of state (which is a possibility) we would be left with two
spots to fill and less time to do it. I think it might be best to offer this
spot to BJ and fill up all 8 spots, then if we lose Joe, Chris and I can be
the fall back plan.

Thoughts and comments from the McComb guys please.

Erik.

_________________________________________________________________
Send and receive Hotmail on your mobile device: http://mobile.msn.com


Ken--

I just wanted to thank you again for inviting me to Houston, and more
importantly, for the support you and Enron are providing to Technology for
All and the joint TFA/SmartForce project.  I believe that we are going to
help make a real difference.

I also wanted to follow up our brief conversation, where we discussed
getting some of our people together with your people at Enron (I believe
that you indicated that your head of HR would be a good start) to see
whether there are ways in which SmartForce can help Enron achieve some of
its business objectives around learning and training.

I would appreciate it if you would have someone email to me the contact
information for whomever it would be appropriate for us to approach.  I'll
take care of the rest from my end.  Thanks again.

Regards,

Greg


Just a note to let you know that performance reviews are due on you direct reports.  Please let me know if you need assistance.


Send his resume to Karen Buckley.  I believe there will be a full round of interviews for the trading track in May.


You are invited to a meeting to discuss origination activity for  crude, refined products and petrochemicals.  The meeting will be held on May 21 at 2:00 in Eb 30c1.


-----Original Message-----
From: CarrFuturesEnergy@carrfut.com
[mailto:CarrFuturesEnergy@carrfut.com]
Sent: Wednesday, November 14, 2001 7:26 AM
To: RVujtech@carrfut.com
Subject: daily charts 11/14

The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude63.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas63.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil63.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded63.pdf

Dec WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clz-qoz.pdf
Dec Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Dec Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Dec/May Heat Spread     http://www.carrfut.com/research/Energy1/hoz-hok.pdf
Jan/Feb Heat Spread     http://www.carrfut.com/research/Energy1/hof-hog.pdf
Dec Gas/Heat Spread     http://www.carrfut.com/research/Energy1/huz-hoz.pdf
Feb Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hug-hog.pdf
Dec/Mar Unlead Spread
http://www.carrfut.com/research/Energy1/huz-huh.pdf

Scott Mollner Recomendation
http://www.carrfut.com/research/Energy1/recom 11-14-01.pdf


>  -----Original Message-----
> From: 	John HANKAMER
> Sent:	Wednesday, October 10, 2001 2:49 PM
> To:	Anne MOISAN
> Subject:	Dinner Friday
>
> Amedeo's
> 22704 Loop 494
> Kingwood
> 281-359-4451
>
> 7:00 pm Friday
>
> John Hankamer
> International SOS - Houston
> (P) 281-361-0482
> (F) 281-361-0158
>


Mark,
For some reason HR did not carry over the maximum number of carryover
vacation days for me from last year.  I think I lost a couple of days beyond
the five.    Ramona Perkins needs to recieve an email from you authorizing
the carryover of 5 vacation days.  Can you email Ramona approving this
request?
Thanks,
Brent


Hello Everyone,

The reason why I'm calling this meeting is to make sure once for all that none of us spend endless hours chasing down and mapping curves.

As it stands now the people in risk management can map curves to OMICRONS but they do not take effect until something is changed in GRMS.

So it would seem like the best way is to deal with this is connect the front end to the back so that everytime risk management adds a curve or changes a mapping it should directly impact VaR without having to change something in GRMS.

I know we have something on the front end but we need to connect it to the back.

I need ideas and a definite solution that will save us all a lot of time..............

Please accept this meeting notice.  It will only run for an hour and we will talk to each other on a when needed basis.

Thanks

Bharat


Start Date: 4/22/01; HourAhead hour: 24;  No ancillary schedules awarded.
Variances detected.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042224.txt

---- SC Trades Schedule ----
+++ Hour 24 - bad data from ISO.
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/22/01
  TRADING_SC: ECH1
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 24 / Preferred:  70.85 / Final:  70.82)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/22/01
  SC_ID: EPMI