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Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
              Thursday, January 24 2002 No. 919
Visit: http://www.enerfax.com to view our web version or for Oil Prices &
News http://www.enerfaxgold.com

PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce               | 1.98  |
| ANR SE                   | 2.01  |
| Carthage TG              | 2.06  |
| Chicago Citygate         | 2.11  |
| Columbia Gulf Onshore    | 2.07  |
| Dominion South Point     | 2.19  |
| Henry Hub                | 2.11  |
| Houston Ship Channel     | 2.12  |
| Katy Hub                 | 2.07  |
| NGPL LA Pool             | 2.01  |
| NGPL - Midcontinent      | 1.99  |
| NGPL STX                 | 2.02  |
| NGPL TX/OK               | 2.02  |
| NNG Demarc.              | 2.05  |
| Niagara                  | 2.22  |
| Sonat Tier 1             | 2.05  |
| TCO IPP Pool             | 2.18  |
| Tetco ELa                | 2.06  |
| Tetco M-3                | 2.34  |
| Tetco STX                | 1.97  |
| TGP Zone 0               | 1.99  |
| TGP Zone 1 (500 Leg)     | 2.03  |
| TGT Zone SL              | 2.08  |
| New York Citygate        | 2.38  |
| Transco Station 65       | 2.12  |
| Transco Zone 6 (NY)      | 2.38  |
| Trunk ELa                | 2.03  |
| Western Region
| California Border        | 2.15  |
| El Paso Keystone         | 2.01  |
| El Paso San Juan-Blanco  | 2.02  |
| Waha Hub                 | 2.03  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)       | 2.93  |
| Dawn Hub/Union           | 2.17  |
| Northwest Stanfield      | 2.09  |
| Wyoming Pool             | 1.94  |
| Opal                     | 1.94  |
| PGT-Malin                | 2.16  |
| Sumas                    | 2.06  |
            Flow Date 1/24
-------------------------------------------------------------

NATURAL GAS FUTURES
Henry Hub
12 Month Strip  2.4599 -0.0029
18 Month Strip  2.6077 +0.0054
| Month | High  |  Low  | Close | Change |
| FEB   | 2.090 | 2.076 | 2.076 | -0.030 |
| MAR   | 2.100 | 2.091 | 2.089 | -0.029 |
| APR   | 2.180 | 2.170 | 2.162 | -0.016 |
| MAY   | 2.275 | 2.272 | 2.260 | -0.010 |
| JUN   | 2.340 | 2.340 | 2.332 | -0.006 |
| JUL   | 2.420 | 2.420 | 2.410 | -0.003 |
| AUG   | 2.480 | 2.450 | 2.463 | +0.002 |
| SEP   | 2.490 | 2.465 | 2.475 | +0.002 |
| OCT   | 2.530 | 2.530 | 2.507 | +0.004 |
| NOV   | 2.740 | 2.739 | 2.742 | +0.014 |
| DEC   | 2.950 | 2.940 | 2.954 | +0.016 |
| JAN   | 3.055 | 3.025 | 3.049 | +0.021 |
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Natural Gas Futures Dip After AGA Report

    Natural gas futures for February delivery on the NYMEX ended down
$0.03 to $2.076 per MMBtu yesterday. The March contract lost $0.029 to
$2.089 per MMBtu. The market opened lower yesterday and then hovered
around $2.10 until the AGA reported that 124 Bcf was withdrawn from
storage last week. There is now 2.4 Tcf left in storage, 73% of capacity.
A year ago there was less than 1.4 Tcf and storage was only 42% full. The
number was slightly below some expectations of a 130 Bcf-150 Bcf pull, and
it was enough for the market to sense $2.00/MMBtu support. Look for the
market to bounce around above $2.00 some and eventually head lower.
Initially the market may to push back toward $2.14 on the strength of
failing to breach $2.00 level after the AGA report, and a record high of
funds being short, but with no reason to cover short positions with no
weather in the offing. So look for low volatility over the short term.
Working gas is on track to end winter at 1.44 Tcf compared to a 5-year
average of 980 Bcf. Look for cash to take the initiative in leading the
futures market downward, with physical prices trading at a premium to
NYMEX since December. With mild weather forecast and a Tcf in storage
above a year ago, spot prices could start trading at a discount to
futures. Turn-back volumes should weaken pricing. Natural gas for next day
delivery across the US and Canada was generally $0.05 - $0.15 lower
yesterday. Natural gas for next day delivery at the Henry hub lost $0.07
to $2.11 per MMBtu.
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Today's Power Bulletins
 * Federal Reserve Sees US Growth Topping 2.2% This Year
 * Measures Approved by California PUC Will Permit Southern California
Edison to
Secure Financing Needed to Pay All Creditors by End of 1st Quarter
 * Senate Republicans Want Mid-Feb Energy Bill Vote
 * France Calls US Uranium Ruling Discriminatory
 * Electric Power Supply Association Considering How Best to Fill Lobbying
Gap Left by Enron Bankruptcy
 * Western Spot Electricity Prices Mixed on Weather Related Demand
 * Northeast Spot Power Prices Continue Demand Related Slump
 * Mid-Continent Spot Power Prices Slip on Mild Weather and Sparse Trading
 * Southeast Spot Power Prices Decline as Mild Weather Dominates
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Former Andersen Partner to Claim 5th Amendment

    David Duncan, the former Andersen partner who led the auditor's work
at Enron has advised lawmakers he will not testify at a hearing on today
unless his testimony is protected from use in court against him. He was
subpoenaed by the House Energy and Commerce investigations subcommittee to
testify on Enron's rapid collapse amid questionable bookkeeping.
Explaining that he had just gotten access to documents from his own files
at Andersen, Duncan says he will invoke the 5th Amendment right not to
testify. However, he will testify today if the committee grants him
immunity, which is not likely. Duncan claims to want full disclosure of
the truth and remains committed to cooperating with all pending
investigations concerning Enron, but says he needs immunity first. He was
fired earlier this month by Andersen, which alleges he ordered the
destruction of documents once he learned of a request by the SEC for
information on Enron's financial reporting.
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-------------------------------------------------------------
Natural Gas NYMEX Volume
02FEB   41,501
02MAR   23,833
02APR   10,194
02MAY    4,288
02JUN    3,319
02JLY    2,645
02AUG    1,560
02SEP    1,087
02OCT    3,345
02NOV      762
02DEC      623
03JAN    3,218
03FEB      485
03MAR    1,097
03APR      226
03MAY      379
03JUN      330
03JLY      107
03AUG      138
03SEP      206
03OCT       31
03NOV       52
03DEC      454
04JAN        7
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Senate Committee Seeks Release of Enron Tax Returns

    The Senate Finance Committee has requested that Enron provide it with
written authorization to release to the public information contained in
its federal consolidated tax returns, and any tax information related to
Enron's affiliated companies or partnerships that is not included in the
consolidated tax returns since its inception in 1985. The committee, which
is probing Enron's compliance with federal tax laws, also plans to review
the use of corporate tax shelters and perhaps examine appropriate
legislative action. Enron allegedly used 880 subsidiaries in tax haven
countries such as the Cayman Islands and Mauritius to avoid paying income
taxes in 4 of the 5 years leading up to 2000, the most recent year for
which records are available. Enron received about $400 million in tax
refunds during that period. Enron has said it paid $60 million under the
corporate alternative minimum tax for 2001. The committee has the legal
authority to review Enron's consolidated tax returns as well as those of
its affiliated companies and partnerships, and said it will exercise that
authority. However, it is not legally authorized to release the
information to the public without Enron's permission.
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-------------------------------------------------------------
PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 18.00 | 15.50 |  17.15  |
| ECAR       | 20.00 | 15.50 |  18.30  |
| ERCOT      | 20.50 | 19.50 |  20.00  |
| Entergy    | 18.50 | 17.50 |  17.75  |
| TVA        | 21.70 | 20.15 |  20.70  |
| ComEd      | 18.25 | 16.75 |  17.70  |
| Nepool     | 28.25 | 27.25 |  27.75  |
| PJM West   | 22.50 | 21.75 |  21.80  |
| Main       | 18.25 | 15.00 |  17.35  |
| MAPP       | 21.00 | 19.00 |  19.85  |
| Palo Verde | 22.90 | 19.50 |  22.00  |
| Mid C      | 19.00 | 18.50 |  18.85  |
| COB        | 21.50 | 20.75 |  21.15  |
| 4 Corners  | 21.75 | 21.50 |  21.65  |
| Mead       | 22.50 | 22.35 |  22.40  |
| NP 15      | 24.00 | 22.50 |  23.20  |
| SP 15      | 24.40 | 22.50 |  23.30  |
              Power Delivered 1/24
-------------------------------------------------------------
Hydro-Quebec Exports Leads to Record Profit

    Hydro-Quebec is North America's largest power utility. Its 2001 net
profit reached a record C$1.1 billion, thanks to high electricity exports
to the US and despite warmer than usual weather. The profit forecast for
2001 had been C$1.03 billion and the net income for 2000 was C$1.08
billion. Hydro-Quebec is in excellent financial position, but has
confirmed that it will ask for an increase domestic power rates as of May
2004 to bring its rate of return in line with other North American
utilities. If accepted by the Quebec Energy Board, the rise will be its
1st in 5 years. The overall rate increase will be C$354 million over 3
years. Hydro-Quebec has also forecast average annual demand will increase
by 1.2% through to 2016. Growth in the past 15 years has been around 2.6%.
The utility also plans to launch the 1st of a series of tender invitations
to private power producers this year to make sure there will be no
shortfall. It is expected to report today the level of its water
reservoirs, a source of major concern.
-------------------------------------------------------------
Allegheny Energy Supply Company, Salt River Project (SRP) and Sempra
Energy
Resources announce Open Season for proposed Desert Crossing Gas Storage
and
Transportation System. Open Season for customers interested in capacity
begins Jan. 10, 2002 and extends through Feb. 8, 2002.  For information,
visit http://www.desert-crossing.com
-------------------------------------------------------------
Todays Gas Bulletins
 * Enron Chairman and CEO Ken Lay Resigns, But Will Remain on Board of
Directors; Now Seeking Restructuring Specialist to Steer Company Out of
Bankruptcy
 * VP Cheney Again Refuses to Give Energy Policy Details Despite Increased
Pressure from Congress
 * Wal-Mart About to Overtake Exxon to Become World's Largest Company
 * Senate and House Begin Enron Hearings Today; Senate Governmental
Affairs Committee to Focus on If Federal Agencies Should Have Foreseen
Debacle; House Energy and Commerce Committee Looks into Destruction of
Documents by Andersen
 * Class Action Lawsuit Filed Against Andersen Accusing It of Racketeering
with
Violations Under RICO Act
 * Texas Senator Phil Gramm and Wife Claim $600,000 Loss in Enron Collapse
 * Burlington Resources Posts Sharp 4th Quarter Loss After Charges
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-------------------------------------------------------------
Dynegy 4th Quarter Profit Up 36%

    Dynegy's 4th quarter earnings climbed 36% as profit from operations
rose to $144 million, or $0.41 per share, from $106 million, or $0.32, a
year ago. Revenue slid 13% to $8.74 billion. Dynegy's earnings met the
average estimate of analysts. Profit at the company's energy trading unit
jumped 58% last quarter from a year ago, due to a sharp increase in
business after Enron collapsed. Natural gas sales in North America gained
14%. In the 4th-quarter, Dynegy wrote off $51 million, or $0.14 per share,
for trading exposure to Enron. It also took charges of $7 million, or
$0.02, to terminate its bid for Enron and $9 million, or $0.03, for
severance costs at its Illinois electric utility. The company ended up
with a net income of $77 million, or $0.21 per share. Dynegy had thought
that Enron-related costs might climb to $125 million. It will pay a $65
million dividend over two years to ChevronTexaco for the $1.5 billion
provided for the planned $23 billion acquisition of Enron. Dynegy projects
earnings of $0.41 per share for the 1st quarter and reaffirmed its per
share profit estimates of $2.26 for 2002. Dynegy still plans to boost
earnings by 15% per year from acquisitions. It has recently sold stock and
plans to sell assets and cut expenses, totaling $1.25 billion to reduce
debt to reassure investors and maintain its investment grade credit
rating.
-------------------------------------------------------------
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-------------------------------------------------------------
Shell Buys Out German Solar Power Partners

    Royal Dutch/Shell has increased its solar power commitment by taking
full control of a German joint venture that has become a world leader in
the fast growing industry. Shell already held 33% of Siemens and Shell
Solar GmbH, and now has agreed to acquire both the 34% interest of Siemens
and the 33% stake held by power utility EON. The deal gives Shell 100%
control of one of the world's few established producers of solar
photovoltaic cells and panels and a 15% share of the global PV market.
Though still relatively expensive to produce, it is a key potential energy
source that could cut fossil fuel use and emissions. Shell will combine
the business with its global Shell Solar operation, raising the number of
people it employs directly in the industry to 1,100. Shell Solar merged
its German solar business with Siemens and EON last April. Siemens said it
pulled out because the existing loss-making structure was not core to its
business and would not grow on its own, and it did not want a minority
stake in the enlarged group. Shell has not disclosed financial details of
the transaction, but said last year it would spend between $500 million
and $1 billion on renewable energy investments over the next 5 years.
-------------------------------------------------------------
AGA Natural Gas Storage Report

            Week                                    Prev
           Ending    Prev                   Prev    Year
| Region | 1/18/02 | Week | Diff | % Full | Year | % Full|
| Prod   |  707    |  733 | -26  |  74%   |  312 |  33%  |
| East   | 1319    | 1396 | -77  |  72%   |  816 |  44%  |
| West   |  379    |  400 | -21  |  75%   |  241 |  47%  |

| Total  | 2405    | 2529 |-124  |  73%   | 1369 |  42%
-------------------------------------------------------------
POWER FUTURES
| Month |   COB   | Change |   PV    | Change |
| FEB   |  21.25  | +0.00  |  22.95  | -0.45  |
| MAR   |  18.50  | +0.00  |  22.25  | -0.35  |
| APR   |  20.00  | +0.00  |  23.25  | -0.50  |
| MAY   |  18.25  | +0.00  |  25.00  | +0.25  |
| JUN   |  20.00  | +0.00  |  28.50  | -0.25  |
| JUL   |  29.50  | +0.00  |  38.00  | -0.25  |
| AUG   |  40.00  | +0.00  |  43.25  | -0.25  |
| SEP   |  34.00  | +0.00  |  33.00  | -0.25  |
| OCT   |  28.00  | +0.00  |  27.00  | +0.00  |
| NOV   |  27.50  | +0.00  |  26.00  | +0.00  |
| DEC   |  28.50  | +0.00  |  26.50  | +0.00  |
| JAN   |  28.50  | +0.00  |  27.75  | -0.25  |
| Month | Entergy | Change | Cinergy | Change |
| FEB   |  18.45  | -0.20  |  19.50  | -0.05  |
| MAR   |  19.25  | -0.25  |  20.75  | -0.05  |
| APR   |  19.25  | -0.25  |  20.75  | -0.05  |
| MAY   |  22.50  | -0.25  |  24.00  | -0.70  |
| JUN   |  26.75  | +0.00  |  29.00  | -0.15  |
| JUL   |  33.50  | -0.50  |  36.80  | -0.50  |
| AUG   |  33.50  | -0.50  |  36.80  | -0.50  |
| SEP   |  21.40  | -0.20  |  22.10  | -0.15  |
| OCT   |  21.25  | -0.05  |  21.75  | -0.10  |
| NOV   |  21.25  | -0.05  |  21.75  | -0.10  |
| DEC   |  21.25  | -0.05  |  21.75  | -0.10  |
| JAN   |  24.00  | +0.00  |  25.00  | +0.00  |
-------------------------------------------------------------
Power Futures
| Month |  PJM  | Change |
| FEB   | 23.50 | -0.15  |
| MAR   | 23.75 | -0.10  |
| APR   | 23.75 | -0.10  |
| MAY   | 26.60 | -0.40  |
| JUN   | 32.85 | -0.65  |
| JUL   | 43.75 | -0.50  |
| AUG   | 43.75 | +0.00  |
| SEP   | 25.15 | +0.45  |
| OCT   | 24.75 | +0.05  |
| NOV   | 24.75 | +0.05  |
| DEC   | 24.75 | +0.05  |
| JAN   | 28.00 | -0.05  |
-------------------------------------------------------------
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PPL Notifies NRC of Operating License Renewal Plans

     PPL Susquehanna has informed the NRC it plans to seek renewal of its
operating license for the Susquehanna nuclear plant in 2005. Because of
the lengthy  review process, the NRC has requested that plant owners file
early notification of their plans to apply. If the NRC approves PPL's
application, the plant's operating license would be extended by 20 years.
The current operating licenses for Units 1 and 2 will expire in 2022 and
2024 respectively, but NRC approval of the extension would allow PPL to
operate the nuclear plants until 2042 and 2044. A nuclear plants license
can be renewed for a maximum of 20 years after it has proved that it can
operate safely and manage maintenance issues related to aging equipment.
The plant has 2 reactors, each with more than 1,100 MW of generating
capacity. Nuclear power plants were originally granted a 40-year operating
license and currently 50 of 103 operating nuclear reactors have said they
will apply for license renewal. Of the 50 units, 14 are in the review
process and 8 have been approved, with another 28 providing notification
of their intent to submit applications to the NRC. Nuclear power provides
about 20% of PPL's almost 10,000 MW in generation capacity. PPL
Susquehanna, a subsidiary of PPL, operates the plant and owns a 90% share,
Allegheny Electric Co-op holds the other 10%.
-------------------------------------------------------------
Energy Seminars, Inc. Announces Key Seminar Offerings for January:

Energy Seminars will be going to Florida and Calgary in 2002!

Click to http://www.energyseminars.com to see our 2002 schedule.

Register on-line at http://www.energyseminars.com or call Registrar Gina
Patrick

Phone: 281-362-7979
FAX: 281-296-9922
--------------------------------------------------------------------------------------------------------------------------

                Progas Storage Services, Inc

Was recently organized to offer specialized natural gas storage services
to marketers and end users servicing the upper Midwest and Northeast
market regions along the major transmission systems in Indiana, Illinois,
Kentucky, and Michigan. PGSMI has 10 bcf of potential working capacity
which will offer service along TXG, ANR, Midwestern, and is currently
evaluating for purchase another 21 bcf of potential working capacity which
can be serviced by these and other systems in the region. PGSMI also
explores for natural gas in the Gulf Coast region through a wholly owned
subsidiary. Progas intends to go public through a route of private
industry offerings, and an IPO or registration. For more information on
services or the company mail to: gastorage@aol.com or for AOL mail to
gastorage@aol.com;
The company's executive and administrative office is located in Abilene,
Texas with storage operations in Owensboro, KY and exploration operations
in Corpus Christi, TX.
Progas Storage Services, Inc
8610 S. Hwy 277
Abilene, TX 79606

Ph 915 698 3699
Fx 915 698 2859
-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 rose 39.16 points to 7598.45
The CRB Index gained 0.24 points to 189.33
The US Dollar increased 0.89 points to 118.46
The Dow advanced 17.16 points to 9730.96
The S&P 500 added 8.87 points to 1128.18
The Nasdaq was up 39.85 points to 1922.38
March NYMEX Crude Oil climbed 0.52 to 19.50
Canadian-US Exchange dipped 0.0044 to 1.6039
-------------------------------------------------------------
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Attached is our injunction Stipulation in executed form.

 - HAO_2.pdf


Mr Fletcher:
Per the request of David Jones, attached please find a revised version of the Master Firm Purchase/Sale Agreement between Enron North America Corp. and Yankee Gas Serives Company with incorporates your comments.  Also attached is a letter amending the Letter of Understanding which moves the deadline for entering into definitive agreements to December 3, 2001.  Please secure execution of the letter and return to Jeff Hodge at fax number (713) 646-3490.  He will secure execution on behalf of ENA and fax you the letter.  Should you have any questions, please page me at (713) 761-4336.

Stacy Dickson Granmayeh
Senior Counsel
Enron North America Corp.
1400 Smith Street, EB 3879
Houston, Texas  77002

Phone (713) 853-5705
Fax (713) 646-3490
Stacy.E.Dickson@enron.com


I have not spoken with Steve Abbnat as of yet  -- I will wait to follow your
lead on this one, unless he contacts me.

Greg is definitely sending out a clear message for us on this one!!
B
 -----Original Message-----
From:  Piper, Greg
Sent: Monday, March 19, 2001 8:35 AM
To: Abbanat, Stephen
Cc: Shelby, Rex; Jafry, Rahil; Beck, Sally; Apollo, Beth
Subject: RE: CGI Proposal Update

You need to work for Sally Beck on this.  She is responsible for this and is
a Managing Director responsible for all mid and back office, outsourcing or
otherwise.  She must approve anything that goes out becuase it will effect
her directly.

Phillipe is also very reluctant to "sell" any systems, especially if we have
to support applications installed behind their firewall.  We are probably
fine with most ASP models.  You need to meet with Sally as team on this ASAP.

After meeting with Sally, let me know what everyone agreed on.  I am in all
day.

Thanks.

GP

 -----Original Message-----
From:  Abbanat, Stephen
Sent: Friday, March 16, 2001 4:35 PM
To: Shelby, Rex; Piper, Greg
Subject: RE: CGI Proposal Update

Greg and Rex,

Thanks for the input.  I will try to contact Beth Apollo.

Here are a few points I think will help.

? I also read the partnering agreement carefully and sent the revised copy to
Travis McCullough this morning
? At this time I believe our risk is quite low, as we are not officially part
of the bid yet
? I will work very hard to keep everyone informed

The following points protect Enron from significant risk:

  1)  We were quite careful about what we sent to CSG (reviewed by Beth,
David, Rahul and myself)
  2)  We did not quote any price for software or services
  3) The original RFP asked for a custom solution, which CGI is proposing. We
do not participate in this work.
  4) The option to take a different approach (e.g. leverage existing software
from a partner) is being proposed by CSG as an alternative approach, but is
not priced.  The option would be explored during a "make versus buy" analysis
within CSG's methodology (during the initial requirements and design phase).
This gives us time to clarify our plans.

I hope these points might mitigate any concerns over the rapid time frame of
the proposal.  As the proposal is due on Monday, I am not sure if there is
time to engage a large number of reviewers, but I will ask CSG to copy Rahul
and hopefully he can get appropriate input.

- Steve

 -----Original Message-----
From:  Shelby, Rex
Sent: Friday, March 16, 2001 1:55 PM
To: Abbanat, Stephen
Subject: FW: CGI Proposal Update

 -----Original Message-----
From:  Piper, Greg
Sent: Friday, March 16, 2001 1:54 PM
To: Shelby, Rex
Subject: RE: CGI Proposal Update

Who is the lawyer on this?

Can I see a copy of our proposal?

Sally Beck will have to see this first thing Monday morning and should be
included on all e-mail traffic related to this.

Beth Apollo should be in the middle of this as well Beth Perlman and Rahil.

GP

 -----Original Message-----
From:  Shelby, Rex
Sent: Friday, March 16, 2001 1:12 PM
To: Piper, Greg
Cc: Abbanat, Stephen
Subject: FW: CGI Proposal Update

Greg --

FYI.  Steve Abbanat has been working with Beth and Rahil to drive our
participation in the CGI proposal.  Here's Steve's most recent update:

 -----Original Message-----
From:  Abbanat, Stephen
Sent: Friday, March 16, 2001 1:06 PM
To: Jafry, Rahil; Berberian, David; Palmer, Mark S.; Perlman, Beth
Cc: Shelby, Rex
Subject: CGI Proposal Update

A brief update:

I spoke with the proposal leads at CGI (Greg Felton and Company) this
morning, and all appears to be on schedule.

? Greg communicated our joint approach to the client and they are very
interested
? Greg received Enron's materials and they are more than sufficient for our
current proposal needs
? I received a draft of CGI's proposed teaming agreement.  I made made edits
according to my knowledge of Enron's legal policies.  I will forward the
document to legal if CGI accepts the changes
? Greg will complete CGI's initial proposal and forward the draft to Enron,
for review, this weekend and on Monday
? The proposal is due Monday PM to CMS
? Presentations to CMS by potential vendors will occur on March 26th-28th.
We should think about who attends and at what point we might want to use our
internal contacts to approach the client.  For now we are waiting, based on
CGI's advice.
? Since the client is in the requirements phase, we should think about how we
might want to support that process, given our approach to delivering systems
solutions

Thanks for everyone's support.
Steve


---------------------- Forwarded by Lola Willis/Corp/Enron on 09/28/2000
11:13 AM ---------------------------
From: Cecilia Olvera@ECT on 09/28/2000 09:31 AM
To: Lola Willis/Corp/Enron@ENRON, Lynn Tippery/HOU/ECT@ECT
cc:

Subject: This is cool.

This is neat!
---------------------- Forwarded by Cecilia Olvera/HOU/ECT on 09/28/2000
09:31 AM ---------------------------

	Enron Global Finance

	From:  Phenicia Olivier                           09/28/2000 09:30 AM

To: Andrea R Guillen/HOU/ECT@ECT, Brenda Barreda/HOU/EES@EES, Elizabeth
Soto/HOU/ECT@ECT, Maria Sandoval/HOU/ECT@ECT, Paula Pierre/Enron
Communications@Enron Communications, Shirlet Williams/HOU/EES@EES, Cecilia
Olvera/HOU/ECT@ECT, Laura Gutierrez/HOU/ECT@ECT, Amy Rios/HOU/ECT@ECT
cc:
Subject: This is cool.

---------------------- Forwarded by Phenicia Olivier/HOU/ECT on 09/28/2000
09:14 AM ---------------------------

	Enron Global Finance

	From:  Jessica Anaya                           09/28/2000 09:10 AM

To: Dolores Escamilla/HOU/ECT@ECT, Marion Sczykutowicz/HOU/ECT@ECT, Rodolfo
Delapaz/HOU/ECT@ECT, Joyce Dorsey/HOU/ECT@ECT, Lisa Castillo/NA/Enron@Enron,
Gus Perez/Corp/Enron@Enron, Claudia Perez/NA/Enron@ENRON, Claudia
Meraz/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, angela.gonzales@atser.com,
claudiaidette@aol.com @ ENRON, uguys04@yahoo.com, ROBERT MALDONADO
<agualeguas_99@yahoo.com>Eloy Escobar/Corp/Enron@ENRON,
egt465@mobilnet.gte.com, omar marroquin <nuevoleon2000@yahoo.com>, Ramiro San
Miguel/Corp/Enron@ENRON, Ezequiel Benitez/NA/Enron@Enron
cc:
Subject: This is cool.

---------------------- Forwarded by Jessica Anaya/HOU/ECT on 09/28/2000 09:05
AM ---------------------------
From: Sonia Guerra@ENRON_DEVELOPMENT on 09/28/2000 08:10 AM
To: Funny Group
cc:
Subject: This is cool.

---------------------- Forwarded by Sonia Guerra/ENRON_DEVELOPMENT on
09/28/2000 08:18 AM ---------------------------
From: Selma Reyna@ENRON on 09/27/2000 04:12 PM
To: Olemma Zamora/Corp/Enron@ENRON, Esmeralda Hinojosa/HOU/EES@EES, Sonia
Guerra/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, anoemi@hotmail.com, Wendy
Gonzalez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janie Matamoros/HOU/EES@EES,
Maria L Martinez/Corp/Enron@Enron
cc:

Subject: This is cool.


George-

Here is one statistical method (linear regression), applied to Hosanna's fund
giving. The method is deterministic, where contributions each Sunday are
attempted to be explained by significant events on the church's and members'
calendars, and the method shoudl be considered in contrast to an anecdotal
one, where each Sunday's giving might be estimated to be the average giving
of the same Sunday (e.g., each 2nd Sunday in January) in the past.

The following effects are estimated independently by the computer (they add
and subtract with each other accordingly; some Sundays can have more than one
effect "in play"):

1) most positive for giving: an additional +$8,802 for special pastoral
appeals (3 of them in the past 3 years)

2) positive for giving: an additional +$2,551 Easter and nearest- Christmas
"Sunday," an additional +$59 Thanksgiving Sunday, and a tiny additional +$1
each week pure time trend.

3) negative for giving: -$304 for Sundays of Monday Federal Holiday weekends,
and -$9 during the Summer (June 1-Aug 31)

4) "wave": there  is an $80 per week "wave"- giving $80 higher one week, $80
lower the next, etc ...

The computer can explain roughly 60% of the absolute variation in giving the
past 3 years using this approach. Keep in mind, much of the information,
statistically, is captured in the pastoral appeals, Easter and Christmas
Sundays, and Holiday weekends. The rest of the variation cannot be explained
by this simple model (i.e., it looks like "noise").

Here are the predictions for fund giving for the upcoming year. You can
cut-and-paste these numbers to any file or spreadsheet  you like. They may
seem "boring" to you; please remember they are the deterministic components
of a process that involves a lot of volatility, and your church's actual
experience will predictably be volatile. These numbers are as-if the "means"
of  experiences dependent on the "standard deviations."

01/02/00 4611
01/09/00 4699
01/16/00 4394
01/23/00 4705
01/30/00 4701
02/06/00 4702
02/13/00 4703
02/20/00 4400
02/27/00 4710
03/05/00 4706
03/12/00 4708
03/19/00 4709
03/26/00 4710
04/02/00 4711
04/09/00 4712
04/16/00 4713
04/23/00 7265
04/30/00 4672
05/07/00 4717
05/14/00 4718
05/21/00 4719
05/28/00 4416
06/04/00 4717
06/11/00 4713
06/18/00 4714
06/25/00 4715
07/02/00 4716
07/09/00 4718
07/16/00 4719
07/23/00 4720
07/30/00 4721
08/06/00 4722
08/13/00 4723
08/20/00 4724
08/27/00 4725
09/03/00 4432
09/10/00 4742
09/17/00 4738
09/24/00 4739
10/01/00 4740
10/08/00 4742
10/15/00 4743
10/22/00 4744
10/29/00 4745
11/05/00 4746
11/12/00 4747
11/19/00 4748
11/26/00 4808
12/03/00 4750
12/10/00 4752
12/17/00 4753
12/24/00 7305
12/31/00 4711

Best wishes,

Clayton Vernon
Manager, Research


Hey Mark, great to hear from you.  I actually went to Argentina and Chile
about 5 years ago for 2 weeks and had a blast.  I'd love to go back for a
longer period.  I was recommending it to Linda for a new place to go.

It sounds like things are going well for you in Houston.  I wish I knew you
were down there.  I was down for a weekend in July.  My college roommate and
his wife and their kids live there.  He's a 6th? 7th? year in Skadden's
Houston office.  Charles Still.  Ever work with him?  I'll let you know when
I'm back down there.

Have you been back to the Caribbean lately?  I was back in April for a week
in the BVI.  I really missed the place.  Do you ever get to Chicago?  Let me
know if you're going to be around.  Take care.

Gregory L. Brown
Gardner, Carton & Douglas
321 North Clark Street, Suite 3400
Chicago, Illinois 60610-4795
Direct dial: 312.245.8703
Facsimile: 312.644.3381
E-mail:  gbrown@gcd.com

-----Original Message-----
From: Mark.Taylor@enron.com [mailto:Mark.Taylor@enron.com]
Sent: Wednesday, September 13, 2000 8:20 PM
To: Brown, Greg - Health Atty
Subject: Hey Greg

I've been to Argentina - what can I tell you about it?  We need to get
sailing soon!  Ever get to Houston?  I have a boat here but don't sail too
much - just working too hard.  Hope you're well!

 09/14/00
22:10:57----------------------------------------------------------------------
--------

This message originates from the law firm of Gardner, Carton &  Douglas.  It
contains information which may be confidential or privileged and is intended
only for the individual or entity named above.    It is prohibited for anyone
else to disclose, copy, distribute or use the contents of this message.  All
personal messages express views solely  of the sender, which are not to be
attributed to Gardner, Carton &  Douglas, and may not be copied or
distributed without this disclaimer.  If you received this message in error,
please notify us immediately at  postmaster@gcd.com or (312) 644-3000.

==============================================================================


Attached is the updated report for New Products and New Countries for the week ending 5/25/2001
Regards
jr
3-6460


hot damn.
PL


---------------------- Forwarded by Andrea Ring/HOU/ECT on 02/14/2001 03:00
PM ---------------------------

	From:  Karen D McIlvoy                           02/14/2001 08:39 AM

To: merenolan@mediaone.net
cc:  (bcc: Andrea Ring/HOU/ECT)
Subject: Fwd: Freckles are Beautiful

.
An elderly woman and her little grandson, whose face
was sprinkled
with bright freckles, spent the day at the zoo. ?Lots
of children
were waiting in line to get their cheeks painted by a
local artist
who was decorating them with tiger paws.

"You've got so many freckles, there's no place to
paint!" a girl in
the line said to the little fella.

Embarrassed, the little boy dropped his head. His
grandmother knelt
down next to him. "I love your freckles. When I was a
little girl I
always wanted freckles," she said, while tracing her
finger across
the child's cheek. "Freckles are beautiful."

The boy looked up, "Really?"

"Of course," said the grandmother. "Why just name me
one thing that's
prettier than freckles."

The little boy thought for a moment, peered intensely
into his
grandma's face, and softly whispered, "Wrinkles."

.


IPAMS Legal, Legislative and Regulatory Committee will meet Wednesday,  November 28, 9:30 a.m. at IPAMS.  Please RSVP to ipams@ipams.org


Jeff, hopefully we can convince you to come when we re-schedule - seemed like
an easy call.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 12/06/2000
03:59 PM ---------------------------

David W Delainey
12/06/2000 01:18 PM
Sent by: Kay Chapman
To: david.w.delainey@enron.com, lavorato@enron.com, tim.belden@enron.com,
derek.davies@enron.com, stephen.douglas@enron.com,
hunter.s.shively@enron.com, laura.luce@enron.com, michael.l.miller@enron.com,
thomas.a.martin@enron.com, john.zufferli@enron.com, Scott.tholan@enron.com,
wdavid.duran@enron.com, rob.milnthorpe@enron.com, c.john.thompson@enron.com,
scott.josey@enron.com, paul.devries@enron.com, scott.neal@enron.com,
jean.mrha@enron.com, david.oxley@enron.com, mark.e.haedicke@enron.com,
joseph.deffner@enron.com, sally.beck@enron.com, beth.perlman@enron.com,
wes.colwell@enron.com, mike.swerzbin@enron.com, bruce.sukaly@enron.com,
doug.gilbert-smith@enron.com, eric.ledain@enron.com, ozzie.pagan@enron.com,
rogers.herndon@enron.com, dana.davis@enron.com, jonathan.mckay@enron.com,
mark.frevert@enron.com, barry.tycholiz@enron.com, chris.h.foster@enron.com,
eric.thode@enron.com, brian.redmond@enron.com, kevin.presto@enron.com,
fletcher.sturm@enron.com, edward.baughman@enron.com, gwolfe@enron.com,
pallen@enron.com, flagrasta@enron.com, christopher.f.calger@enron.com,
frank.w.vickers@enron.com, jake.thomas@enron.com, jeff.donahue@enron.com,
jsteffes@enron.com, max.yzaguirre@enron.com, Janet R Dietrich/HOU/ECT@ECT,
John Arnold/HOU/ECT@ECT, Jeffery Ader/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT,
Joe Kishkill/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, Orlando
Gonzalez/SA/Enron@Enron, Remi Collonges/SA/Enron@Enron
cc: Kay Chapman/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Angela
McCulloch/CAL/ECT@ECT, Airam Arteaga/HOU/ECT@ECT, Monica
Butler/Corp/Enron@Enron, Paula Forsyth/Corp/Enron@ENRON, Lynn
Pikofsky/Corp/Enron@ENRON, Anabel Gutierrez/HOU/ECT@ECT, Laura
Harder/Corp/Enron@Enron, Tamara Jae Black/HOU/ECT@ECT, Sharon
Purswell/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Debra Davidson/PDX/ECT@ECT,
Tonai Lehr/Corp/Enron@ENRON, Lindsey Huculiak/TOR/ECT@ECT, Kimberly
Brown/HOU/ECT@ECT, Melissa Jones/NA/Enron@ENRON, Kay Chapman/HOU/ECT@ECT,
Janette Elbertson/HOU/ECT@ECT, Amy Rios/HOU/ECT@ECT, Patti
Thompson/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT, Shirley
Tijerina/Corp/Enron@ENRON, Stephanie Gardner/HOU/ECT@ECT, Christy
Chapman/HOU/ECT@ECT, Nicki Daw/NA/Enron@Enron, Michelle Vitrella/HOU/ECT@ECT,
Lillian Carroll/HOU/ECT@ECT, Becky Young/NA/Enron@Enron, Debra
Davidson/PDX/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Marcia A
Linton/NA/Enron@Enron, Claudette Harvey/HOU/ECT@ect, Crystal
Blair/HOU/ECT@ECT, Liz M Taylor/HOU/ECT@ECT, Marianne M Arake/SA/Enron@Enron,
Luly Stephens/NA/Enron@Enron
Subject: ENA 2000 Offsite

Given the current tremendous energy market volatility and as we stretch
resources to make our commercial goals for 2000, we think it would be
appropriate to postpone the ENA 2000 Offsite to early next year.  I trust
this meets with your approval and thanks for all the hard work.

Regards
Dave and John


0413 Co.
107321 RC Code

BT

 -----Original Message-----
From: 	Hitchcock, Dorie
Sent:	Thursday, September 27, 2001 10:18 AM
To:	Tycholiz, Barry
Subject:	RE: TEXACO/HAVOLINE GRAND PRIX

Am I holding them or do you definitely want them?

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Thursday, September 27, 2001 10:17 AM
To:	Hitchcock, Dorie
Subject:	RE: TEXACO/HAVOLINE GRAND PRIX

Dorie, pls hold 6 tickets for me for the Sunday event.

Thanks, BT

 -----Original Message-----
From: 	Hitchcock, Dorie
Sent:	Thursday, September 27, 2001 9:59 AM
To:	Hickerson, Gary; Mcclellan, George; Aronowitz, Alan; Beyer, Michael J; Blesie, Brad; Bradley, Michael; Clarke, Niamh; Curran, Greg; Forness, Bob; Gonzales, Eric; Harris, Clay; Hirl, Joseph; Kravas, Christopher; Lawyer, Larry; Leach, Doug; Lewis, Jim; Lien, Thor; Maffett, Randal; Mahoney, Chris; Mcgowan, Kevin; Nowlan Jr., John L.; Price, Brent A.; Quilkey, Paul; Reck, Daniel; Schroeder Jr., Don; Schroeder, Mark; Sekse, Per; Tawney, Mark; White, Bill; Whitehead, Jonathan; Wilson, John L.; Battaglia, Tim; Brown, Becky; Brown, Bill W.; Burgher, Cedric; Castleman, Kent; Crane, Bob; Garner, Bruce; Hermans, Greg; Holzer, Eric; Howe, Bob; Kelemen, Andy; Malcolm, Rodney; Noel, Thierry; Reed, Andrea V.; Saltiel, Robert; Young, Steve; Allen, Phillip K.; Belden, Tim; Calger, Christopher F.; Colwell, Wes; Deffner, Joseph; Duran, W. David; Haedicke, Mark E.; Kishkill, Joe; Arnold, John; Arora, Harry; Baughman, Edward D.; Black, Don; Breslau, Craig; Clifford, Douglas; Collonges, Remi; Davies, Derek; Dayao, Anthony; Devries, Paul; Forster, David; Foster, Chris H.; Gonzalez, Orlando; Grigsby, Mike; Hedstrom, Peggy; Herndon, Rogers; Josey, Scott; Keel, Allan; Keohane, Peter; Kitagawa, Kyle; Lagrasta, Fred; Luce, Laura; Martin, Thomas A.; Mcdonald, Michael; McMichael Jr., Ed; Miller, Don R; Mrha, Jean; Neal, Scott; Oxley, David; Parquet, David; Presto, Kevin M.; Scott, Laura; Shively, Hunter S.; Sturm, Fletcher J.; Swerzbin, Mike; Thomas, Jake; Tricoli, Carl; Tycholiz, Barry; Vickers, Frank W.; Whitt, Mark; Wiggs, Brett; Zipper, Andy; Zufferli, John
Cc:	Hitchcock, Dorie
Subject:	TEXACO/HAVOLINE GRAND PRIX

The Texaco/Havoline Grand Prix of Houston will take place downtown on October 5-7, 2001.  Enron has developed a relationship with the PacWest Racing Team, a member of the CART FedEx Championship Series featuring drivers Scott Dixon and Mauricio Gugelmin, which will enable us to offer our customers and executives a one of a kind hospitality package that will include the following features:

Gourmet hospitality including breakfast and lunch prepared for Enron guests by an on-site chef at the race track in PacWest's Summit (mobile hospitality and business suites)
Paddock passes allowing Enron guests to visit the garage areas where race car preparation takes place and providing a "behind the scenes" look at the business of motor sports
Sunday race event tickets located in Grandstand C, just before turn one and adjacent to the PacWest Summit
Special PacWest driver autograph and "meet and greet" sessions for Enron guests
Guided tours of PacWest's transporters and garage areas for Enron guests thereby providing a hands-on look at how the race cars are prepared for the weekend's on-track activities
Opportunity to network with companies that support PacWest including but not limited to: NEXTEL, JP Morgan Chase, Gemstar, Pennzoil, PPG, Tully's Coffee, Snap-On, Bosch, Freightliner, Toyota, Panasonic, 3D Village

I currently have the following tickets available for this event:
	Friday, October 5 - 4 Tickets
	Saturday, October 6 - 15 Tickets
	Sunday, October 7 - 20 Tickets
(No cost will be allocated back to Company and RC numbers)
To reserve tickets for this outing, please send an e-mail request to my attention and include your company and department.  Tickets will be distributed on a first-come, first-serve basis.  Please be advised that these tickets should be used for customer entertainment.

Attached, please find the Program of Events and various pictures of the hospitality area.  Complete information on the race can be found at http://www.texacogp.com.
 << File: 01GrandPrixSched.xls >>  << File: 01GrandPrixPixs.ppt >>

Dorie Hitchcock
Event Manager
Enron
1400 Smith Street
Suite 3640a
Houston, TX  77002
Telephone:  (713) 853-6978
Fax:  (713) 646-5800
Cell:  (713) 594-7093
E-Mail:  dorie.hitchcock@enron.com


Full Name: Tori Kuykendall

Login ID:  tkuyken

Extension:  3-3275

Office Location:  EB3209D

What type of computer do you have?  (Desktop,  Laptop,  Both)  Desktop

Do you have a PDA?  If yes, what type do you have:   (None, IPAQ, Palm Pilot,
Jornada)  No

Do you have permission to access anyone's Email/Calendar?
    If yes, who?  No

Does anyone have permission to access your Email/Calendar?
    If yes, who?  No

Are you responsible for updating anyone else's address book?
    If yes, who? No

Is anyone else responsible for updating your address book?
    If yes, who?  No

Do you have access to a shared calendar?
    If yes, which shared calendar?  yes - west desk calendar

Do you have any Distribution Groups that Messaging maintains for you (for
mass mailings)?
    If yes, please list here:  No

Please list all Notes databases applications that you currently use:

In our efforts to plan the exact date/time of your migration, we also will
need to know:

What are your normal work hours?  From:  7:00    To: 4:30

Will you be out of the office in the near future for vacation, leave, etc?
       If so, when?        From (MM/DD/YY): 06/11/01     To (MM/DD/YY):
08/11/01


Hey guys,

Well I'm back home in Houston looking out at our lovely skyline (okay, maybe
it's not that lovely but it is sunny here).  Anyway, I'm so glad I got the
chance to see all of you while I was in London.  It seemed as though all of
you are really enjoying your time in the UK - which is good to hear given the
fact I'm hoping to make it over there myself.  Hope the approaching close to
2000 finds everyone in good spirits.

Cheers,
Susan


There does not appear to be any bankruptcy issues with this company.

dp


These three guys will all be available for interview Monday afternoon.

Regards

Ben


I believe Leslie does regulatory/legal work for ENA on a contract basis.

Steven Harris
11/29/2000 08:58 AM
To: Mike McGowan/ET&S/Enron@ENRON
cc: Drew Fossum/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON

Subject: Re: Misc

I am not sure about Leslie Lawner but maybe Drew or Susan Scott know. I do
not get reports from anyone else regarding activities in any state.

Mike McGowan
11/29/2000 08:33 AM
To: Steven Harris/ET&S/Enron@ENRON
cc:

Subject: Misc

Steve - is Leslie Launer(sp?) an Enron employee?   I know she once was, but I
believe she lives in New Mexico and is used by Enron at times.  Do we use
her?  What is her status and relationship with the pipeline group??

Do you get any reports from Tom Rutherford on New Mexico??


the beach was cold & VERY windy.  Not much for scenery with those weather conditions.  It didn't warm up till we left on Tues.  Still working on the research paper.  He's going to the library today.  I think we're on draft #43.

-----Original Message-----
From: Lmfoust@aol.com [mailto:Lmfoust@aol.com]
Sent: Friday, March 15, 2002 10:01 AM
To: Hyatt, Kevin
Subject: Re: FW: Sad News About Beer

Nice.......

How was/is vacation? Austin's paper written?


Hi John,

We have now a total of 29 people interviewing for the trading track with potentially another 5( first round screens taking place today).   I have 29 interviewers from you... assuming they don't cancel, I am still short on interviewers.  Please advise on additional names you would like to particpate.

Thanks,

Karen B.


----- Forwarded by Jeff Dasovich/NA/Enron on 03/21/2001 10:46 AM -----

	"Daniel Douglass" <Douglass@ArterHadden.com>
	03/21/2001 10:22 AM

		 To: <Barbara_Klemstine@apsc.com>, <Vicki_Sandler@apses.com>,
<berry@apx.com>, <dcazalet@apx.com>, <billr@calpine.com>,
<jackp@calpine.com>, <Ken_Czarnecki@calpx.com>, <gavaughn@duke-energy.com>,
<rjhickok@duke-energy.com>, <gtbl@dynegy.com>, <jmpa@dynegy.com>,
<jdasovic@enron.com>, <susan_j_mara@enron.com>, <Tamara_Johnson@enron.com>,
<curt.Hatton@gen.pge.com>, <foothill@lmi.net>, <camiessn@newwestenergy.com>,
<jcgardin@newwestenergy.com>, <jsmollon@newwestenergy.com>,
<rsnichol@newwestenergy.com>, <nam.nguyen@powersrc.com>,
<Curtis_L_Kebler@reliantenergy.com>
		 cc:
		 Subject: FYI - PX sues ISO

The California Power Exchange has filed a complaint for declaratory relief
against the California Independent System Operator.  The case description
from our tracking service reads as follows:

Plaintiff seeks a declaration that defendant lacks the legal right to hold
the $177 million in funds remitted to the ISO by PG&E in response to invoices
transmitted to PG&E by plaintiff in connection with obligations incurred in
December 2000 by PG&E in the ISO,s markets.


So the age old question is finaly answered... "can you really ever have too much titty"?


Hi Susan,

In the attached file are the valuations on 11-1-00 for 11-1-00 for three GD
deals,  using the tested version of PortCalc as we discussed. I did three
deals out of the six deals you picked earlier-- basically they worked the
same way. Let me know if you have any questions.

Shouan


I was informed that Alliant Energy Corp. did a physical power deal on EOL
today.  This CP is NOT authorized to trade US power products, so please shut
them down for such products as soon as possible.

Thanks,

Leslie


Ben,

We need GE to give us additional last minute concessions requested by lenders
in order to get TurboPark closed.  If they sense that there  may be a
potential flip in the air regarding Blue Dog, the wheels could fall off the
wagon.


Please see attached.  SS


thx  and have fun on vaca

To: John Arnold/HOU/ECT@ECT
cc:
Subject: End of the YEar

Hey:
Sorry I didn't get to come by before I left. I have been in London since
12/15.I hope the expiry goes smoothly for you. Also I hope your holliday
season is going well ( however abridged it is by the NYMEX and Enron)
 Many of the guys over here asked about nat gas and EOL in the US. I
suggested they visit with you when they are over in the US. In particular,
Chris Mahoney (gasoil trader) will be in Houston the 27 t0 30. I told him he
should come and watch you deal with the AGA number and NX1 at the same time.
Chris is a really good guy. His team loves him and will definitely play a
large role in turning the crude and products group around.

 Anyway you were a great pal over the last 12 months and gave me a lot of
good advice. I do miss listening to the banter on the gas floor (and the
gambling!), but there are a lot of good people in crude and products
(especially in London) and I think we will be able to deliver on the goods. I
think you are wonderful and I'm very happy we had the chance to work together.

Happy New Year!
Jen

PS I am coming back on the 6th. Once I finish up the week, I am off to Berlin
for New Year's Eve and then a little trip over to Prague.

PPS If there is any other info you need let me know. By Jan 15, I should have
about 15 analysts and be able to devote some to special projects.

PPS       A London HOuston Comparison
    London     HOUSTON
Employee Referral  BMW Z3     Maybe 2K, usually a slap on the back
Parking Avail   10 spots     100's
Parking Fee   Monthly auction, with 10 top ten bids  Set annual, space yours
for your ENE life
    winning, lowest of the ten setting
    monthly price
Building   Across from Buckingham Palace  Demilitarized zone
Holiday   5 weeks      ????
Trading Day   8 am - 8:30 pm    6-6:30
Closest Bar   British Pub, one Block   Ninfa's Allen Ctr

John Arnold
26/12/2000 19:03
To: Jennifer Fraser/HOU/ECT@ECT
cc:
Subject: Re: NG Expiry

sorry didnt respond to your message.   don't know how to do that instant
messenger thing anymore.  volume very, very light.  most of stated volume in
spreads and TAS.  No one seems to want to be in the office this week.
Everyone wants to get this year over with.
Keep pumping in the fundamental info.   very good stuff and i'm not getting
it anywhere else.

	From:  Jennifer Fraser                           12/26/2000 12:16 PM

To: John Arnold/HOU/ECT@ECT
cc:
Subject: NG Expiry

Hey


Hi:  O lord.  You know, the pace at school is so much nicer--actually have
time to think about things and absorb it.  But work has gotten so insane that
I sympathize with your plight (since mine's the same).  I think I've maybe
made it to 1/2--that's 1/2--of the finance classes.

NORTH of Sacramento.  Are you driving to Sacramento every day?  Say it ain't
so.  That's brutal.

When you say full time, you mean school full time?  That, I assume, means
leaving your job?  Be happy to talk about it.  You know me---believer in
always keeping all options open and active.  If full time makes sense, you
ought to do it.

Unfortunately, though, it looks like I'll be missing class (again) on Tuesday
because I have to be in Portland.  If you're not going to Sac on Monday,
coffee in SF during work hours works.  Or I could meet you during break on
Monday.  Or we could have lunch or a beer after work on Thursday or Friday
when I'm back from Portland.

Hang in there.  I was worried about you--seemed liked you'd gone underground
again.  Remember, life's too short to get too worried about it.  Let me know
what works for you.

Best,
Jeff

PS  I'm spending my Saturday nite working on a financial reporting case.
Hope that's modest consolation.

"Strategizing?!"   (I don't think so.)

	Courtney Abernathy <courtney_abernathy@yahoo.com>
	09/30/2000 07:52 PM

		 To: Jeff.Dasovich@enron.com
		 cc:
		 Subject: Re: Hectic?

Boy did I flake on the happy hour.  Jeff-I think I've
gone over THE edge.  Hectic does't even work anymore.
 I'm on a (fairly)good project at HP..IN SACRAMENTO,
in fact 20 miles north of Sacramento. I LOVE the
company, the learning, the work, the teams, the
people, the career opportunities.  I hate the 4+ hours
of driving on Mondays and Tuesdays, strategizing(real
word?) about balancing the needs of the team with
getting my ass to school. I really want to talk to
you...I'm thinking about full time and want your
thoughts.  Are you available at break on Tuesday for a
beer?
Courtney
--- Jeff.Dasovich@enron.com wrote:
> Hey there stranger:
> By the looks of your attire (very nice), and the
> pace of you walk the other
> night, looks like you're back in the working groove.
>  Hope work is fun and
> your classes are good.  I'm trying to get used to
> the "no life" thing
> again.  And you slacked on the happy hour.
>
> Best,
> Jeff
>

__________________________________________________
Do You Yahoo!?
Yahoo! Photos - 35mm Quality Prints, Now Get 15 Free!
http://photos.yahoo.com/


---------------------- Forwarded by Scott Neal/HOU/ECT on 08/25/2000 05:37 PM
---------------------------

From:  Matt Motsinger
    08/24/2000 05:07 PM

To: Hunter S Shively/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Thomas A
Martin/HOU/ECT@ECT, Fletcher J Sturm/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT,
Scott Neal/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT, Joe Gold/LON/ECT@ECT,
David Gallagher/LON/ECT@ECT, Thor Lien/OSL/ECT@ECT, Richard
Lewis/LON/ECT@ECT, Stuart Staley/LON/ECT@ECT, Mark Tawney/HOU/ECT@ECT, Kevin
McGowan/Corp/Enron@ENRON, Jim Fallon/Enron Communications@Enron
Communications, Jonathan Whitehead/AP/Enron@Enron, David J
Botchlett/HOU/ECT@ECT, Douglas S Friedman/HOU/ECT@ECT, S Craig
Story/HOU/ECT@ECT, W Wade Hicks/HOU/ECT@ECT, John Wilson/NA/Enron@ENRON, Don
Schroeder/HOU/ECT@ECT, Steve Elliott/Enron Communications@Enron
Communications, Jonathan McKay/CAL/ECT@ECT, Edward Ondarza/HOU/ECT@ECT, John
L Nowlan/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT, Homer Lin/HOU/ECT@ECT, Nick Mooney/LON/ECT@ECT, Carrie
Southard/LON/ECT@ECT
cc: Product Control - Houston, Product Control - London
Subject: EOL Commodity deal count breakout 08-23-00

The following files contain a graphical view of the average deal count per
month by Commodity for EOL and OTC transactions since the launch of
EnronOnline. This information is for comparitive analysis only.  Do not
update links when opening these files.

If you have any questions regarding this breakout, please contact one of the
following:

Torrey Moorer x3-6218
Matt Motsinger x3-5221
Pete Berzins x5-7594

Matt
EnronOnline


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/13/2001
11:46 AM ---------------------------

Susan M Scott
02/13/2001 10:42 AM
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: more pics

---------------------- Forwarded by Susan M Scott/HOU/ECT on 02/13/2001 11:41
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Lisa Gillette                           02/13/2001 10:08 AM

To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: more pics

---------------------- Forwarded by Lisa Gillette/HOU/ECT on 02/13/2001 10:04
AM ---------------------------

Daniel Diamond
02/13/2001 08:52 AM
To: Bryan Hull/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT
cc:

Subject: more pics

---------------------- Forwarded by Daniel Diamond/HOU/ECT on 02/13/2001
08:51 AM ---------------------------

ddiamond <ddiamond@pdq.net>@pdq.net> on 02/11/2001 01:47:28 PM
To: daniel.diamond@enron.com
cc:
Subject: more pics

pics

 - Gmoney.jpg
 - Hully.JPG


Keith,

It was a great pleasure to work you with on this project.
The entire Enron team was impressed by the quality of the students
and commitment of the School to exploring new and creative
ways of exposing students to business problems.

Vince

Weigelt <Weigelt@wharton.upenn.edu> on 04/10/2001 12:05:25 PM
To: "'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject: Enron project

Vince;

I just wanted to tell you how much I enjoyed working with Enron on the Tiger
Project.  I found the interaction with you and your colleagues very
stimulating.  The ideas we covered (like whether there are network
externalities in these markets) was more like a workshop than a project.  I
wish all businessmen had your interests and capabilities.

Thanks

Keith


This has been changed.

Evelyn Metoyer@ENRON
03/01/2001 07:09 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: deal 534056

Can you change the time zone to PPT so that the strips accurately splits the
zime change for April.

The first strip should be   4/1 - 4/1    M-S    PDT   07-22
The next strip should be  4/2 - 4/30  M-S   PDT   07-22

Thanks!


Melissa/Darren

Global Contract #96045720
Cokinos/Tri-C has elected to price their production for the month of April
2001 as follows:

4,000/d, 97% IF/HSC
all production in excess of 4,000/d priced 97% Gas Daily

Thank you,
Michael


Sure.  But, we are also talking about the ROI model.  OK??

Make sure you tell Karen about academy awards.  She left a message on the
machine.  Also, tell David and Nina and anyone Karen wants to bring is fine.
Just let me know about how many people.

Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From:  Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Wednesday, March 21, 2001 10:48 AM
To: Cameron Sellers
Subject: Re: FW: 3/20 field update from Ian, Kevin, David H., James
B.

Class on Thursday.  Something that we can talk about in Mexico?


Nelson,

Thanks.

Vince

 -----Original Message-----
From: 	Neale, Nelson
Sent:	Friday, August 17, 2001 8:51 AM
To:	Kaminski, Vince J
Subject:	RE: UW

Vince,

I have contacted each person on the attached list regarding UW participation.  I think that we should reach the 100% mark by the end of the day.

Nelson

 -----Original Message-----
From: 	Grabstald, Kathie
Sent:	Thursday, August 16, 2001 4:35 PM
To:	Kaminski, Vince J; Neale, Nelson; Crenshaw, Shirley
Subject:	UW

Here are the names of EWS Research people who have not participated in the United Way campaign as of 4:30 PM today.

RAKESH BHARATI
CHUANLI DENG
SHANE GREEN
PAULO ISSLER
KEVIN MOORE
ROMAN ZADOROZHNY

Tomorrow is the last official day of the campaign.  If you can get these people on board - to either pledge or decline - you will have 100% participation.

Please let me know if there is anything I can do to help you.

Kathie Grabstald
ENA Public Relations
713-853-9610


Greg,

You and I met at your office last summer to discuss Aprimo's Marketing
Management Solution. At the time, you indicated that there would be other
people at Enron that I should speak with. My assigned territory changed
shortly after our meeting, and I did not follow-up on these contacts. I am
once again responsible for Enron, and would appreciate your direction to the
appropriate individuals at Enron.

Our web-based solution has been adopted by over 60 leading companies over the
past 18 months. They are seeing rapid value from Aprimo's unique ability to
help them Grow Top-Line Revenue (more effective Marketing) and Reduce
Bottom-line Cost (more efficient Marketing). With the opportunities facing
Enron, I'm certain that maximizing your Marketing Investments is of interest
to the Executive Team and your Shareholders.

Our solution is delivering improvements across all Marketing Functions, such
as:

- Event Management
- Marcom
- Marketing Financial Management
- Strategic Planning
- Direct Marketing
- Web Response
- Lead Management

Leading Analysts have identified Aprimo as the clear leader in Enterprise
Marketing Management. I would like to arrange brief discovery meetings with
some of the individuals responsible for Marketing's contribution to Enron's
growth.

I would appreciate any direction that you and Liz can provide.

Regards,
Vince LaGrange
Aprimo, Inc.???????
(940) 321-9787 - Office
(940) 390-8097 - Mobile
vince.lagrange@aprimo.com
9901 E. Valley Ranch Parkway
Suite 2000
Irving, TX 75063
?
"Aprimo Marketing - Managing the Business of Marketing"


Paul Dawson - I suggest that you pick this up, a chance to ingratiate
yourself to Ian.  I suggest you contact Ian and explore Edward Barker's
willingness to commute from LA to SF, on a nearly weekly basis.  You might
tell Ian that we really have nothing of interest, i.e., no real presence, in
LA, but are willing to use him in SF (if nothing else, we made the offer,
which Ian will appreciate).  I will not involve myself further, unless you
think I can add some value in communicating with Ian.   thanks  mcs

 -----Original Message-----
From:  Dasovich, Jeff
Sent: 25 June 2001 13:47
To: Shapiro, Richard
Cc: Kaufman, Paul; Dawson, Paul; Schroeder, Mark
Subject: Re: UK Government secundee to Enron?

If it's no cost to Enron, and if he's good and willing to commute to SF, and
if it would be beneficial to the Company, we could certainly use the help and
put him to work on interesting things.

But do we we want to infect someone with the lunacy of California regulation
and then potentially infect the UK?  Seriously, we can make it work if folks
think that it makes sense.

Best,
Jeff


FYI...

-----Original Message-----
From: Bentley, Corry
Sent: Thu 2/28/2002 4:00 PM
To: Black, Tamara Jae
Cc: Bentley, Corry; Bailey, Debra; Will, Lloyd
Subject: New UBS Phone Numbers

T Jae,

Please inform the East Power Group that our new toll free numbers will be as follows:

East Power - 24 HOUR Number             1-888-UBS-4122          or 1-888-827-4122

East Power - SCHEDULING Number  1-888-UBS-4132          or 1-888-827-4132

East Power - FAX Number         713-584-2138

UBS Texas Desk                  1-888-UBS-4250          or 1-888-827-4250

Thanks,

Corry Bentley
713-853-0421


Texas' first football game is this weekend and I have tickets for each of
you.  I would like to leave around 3:00 on Friday to go to Austin. We will
come back on Saturday after the game.

Let me know today if you still want to go.

-Eric


I can prepare a draft of a Master Agreement after credit sends me a
worksheet.  I will forward your request to them and begin the process as soon
as possible.

DP


Matt - I would be grateful if you could have the attached printed up on
EnronCredit.com Limited headed paper and have signed, tks Denis

From: Tana Jones on 13/12/2000 11:25 CST
To: Matthew Dawson/LON/ECT@ECT, Denis O'Connell/LON/ECT@ECT
cc:

Subject: NDA-Credit2B.com

I just left you both another message about this NDA.  Their lawyer is calling
from NY, and we need it signed now.  His name is Robert Harris, his ph is
212/984-9112 and his fax is 212/984-9111.
----- Forwarded by Tana Jones/HOU/ECT on 12/13/2000 11:23 AM -----

	Tana Jones
	12/11/2000 01:28 PM

		 To: Matthew Dawson/LON/ECT@ECT, Denis O'Connell/LON/ECT@ECT
		 cc:
		 Subject: NDA-Credit2B.com

Attached is another NDA we need to get signed ASAP.  If you could help us
with this, we'd appreciate it!


Kaye Ellis - 35968


celestine -- i have not been a member now for over a year -- can you take me off your mailing list?  thanks.

 -----Original Message-----
From: 	Hollan, Celestine
Sent:	Wednesday, November 28, 2001 8:26 AM
To:	Alfaro, Renee; Appelget, Russell L; Branom, Leon; Brewer, Stacey J.; Carr, James; Cuccia, Michael; david.hermes@atofina.com; Dupree, Dianna; Ermis, Frank; Gonzales, Johnny; Hanagriff, Richard; Henry, Jane Hilburn; Herron, Carolyn; Herron, D.J.; Hiarker, Rickey; Hutcherson, Leesa; Kuykendall, Tori; Lee, Paula; matt.henry@accenture.com; Miley, Richard A.; Norman, Ina; Ricketts, Dorothy; Wykel, Ken
Subject:	Special Olympics - Need's Your Help

Several Enron Bowling Association members  were unable to participate in the Special Olympics Bowl-A-Thon on Saturday November 17, 2001.  Your support is imporant to the success of the atheletes.

The purpose of the Bowl-A-Thon was to raise funds for the Atheletes with Mental Retardation to compete in year-round sports and  training that will enable them to develop not only physically but emotionally and socially.

Dennis Lee has received 100 T-shirts (sizes ranging from L to XXXL) to sell for a $25 donation to continue raising funds for Special Olympics.  We are asking each EBA member to sell  3 to 5 shirts.

Please pick up T-Shirts from Dennis Lee   EB3982   ext. 31715

We appreciate your support especially during these uncertain times.

Thank You In Advance
Celestine Hollan
chollan@enron.com <mailto:chollan@enron.com>
713-853-3863


The attached news release was sent over PRNewswire early this morning.

(See attached file: Evista Early Effects Release.doc)

 - Evista Early Effects Release.doc


Below is a brief filing to FERC that points out several continued
deficiencies in APS' compliance filing.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 03/07/2001
08:32 AM ---------------------------

"Farinella, Maria" <FarinellaM@dsmo.com>@dsmo.com> on 03/06/2001 04:38:53 PM
Sent by: "Hubbard, Norma" <HubbardN@dsmo.com>
To: "'teresabrown@duke-energy.com'" <teresabrown@duke-energy.com>,
"'cnicola@ect.enron.com'" <cnicola@ect.enron.com>
cc: "Schott, Gretchen" <SchottG@dsmo.com>, "Farinella, Maria"
<FarinellaM@dsmo.com>, "Safford, Carrie" <SaffordC@dsmo.com>

Subject: Filing made today

Enclosed please find the filing made today in the APS proceeding.  A hard
copy was sent to Teresa Brown and Christi Nicolay.  Thanks

Norma J. Hubbard
Dickstein Shapiro Morin & Oshinsky

============================================================================Th
is e-mail message and any attached files are confidential and are intended
solely for the use of the addressee(s) named above. This communication may
contain material protected by attorney-client, work product, or other
privileges. If you are not the intended recipient or person responsible for
delivering this confidential communication to the intended recipient, you
have received this communication in error, and any review, use,
dissemination, forwarding, printing, copying, or other distribution of this
e-mail message and any attached files is strictly prohibited. If you have
received this confidential communication in error, please notify the sender
immediately by reply e-mail message and permanently delete the original
message.

To reply to our email administrator directly, send an email to
postmaster@dsmo.com

Dickstein Shapiro Morin & Oshinsky LLP
http://www.legalinnovators.com

 - APS compliance filing 3-1-01_.doc


Kay, Please see attached.  Thanks.


The February 2002 El Paso Topock point price was $1.8600.

Sue Mayher
Imbalance Management
(719) 520-4649
susan.mayher@elpaso.com

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


David,

Here are the reviews of the UT Energy Finance program that  you requested:

From Jennifer Martinez  (MBA class of 1999, Energy Finance taken fall of
1998):

The Energy Finance Program 2 years ago was very good, especially considering
it was the first year of the program.  There were a lot of guest speakers
from various energy companies who gave us a lot of practical knowledge about
the energy industry through case studies, lectures, etc.  Basically, we
learned all the same finance concepts and tools as in the regular finance
classes, but all the cases and examples were energy-related.  The professors
were good for the most part but didn't have a great deal of practical
industry experience.  If I had to guess the reason for decreased
participation in the program, I would probably say it is the professors.
Ronn and Titman are great but known as being very technical and
quantitative.  Some students prefer less technical professors and classes
that aren't limiting to the energy industry.  Also, the fact that the class
meets for 3 hours twice a week may not be so appealing.  Other than those
things, I can't imagine why there has been such a drop in enrollment.  I
especially don't understand why every single person didn't drop for Enron.  I
wonder if it has something to do with international status.???

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

From John Massey  (MBA class of 1999, Energy Finance taken fall of 1998):

Bottom Line -

UT Business Schools is great - Investment Fund - Best Activity available to
students
Energy Finance program - Fairly Weak -
It was a watered down version of the futures options class crossed with a
weak finance appendage -
The Finance teacher was pathetic - both a poor teacher, ignorant about
industry specific analysis, devoid of industry experience, rude to outside
lectures (from industry)
Keith Brown was the only educator that was any good and he only had a small
portion of the class time -

Way to make Better:
Get teachers with practical industry experience -
Make it a seminar Class - Focus on Case studies, lectures - given by people
from industry -
Promote the class within the business school - I felt like UT did a poor job
of internally (to students) promoting the class -

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

From Ross Mesquita  (MBA class of 1999, Energy Finance taken fall of 1998):

To be honest, a great majority of the coursework was not energy specific.
When energy applications were presented, it seemed more like general finance
questions were reworded to include energy lingo.  We had some very good
speakers, but for the most part, I did not feel like the 6 hours of class had
enough energy focus.  I assumed that this would get better as the program
progressed.

One reason that may account for the decline in enrollment is that Energy
Finance is a very specific focus.  I would have probably not enrolled in the
Energy Finance program had it been available in my first year.  I did not
know enough about energy at that time and I had returned to B-school to
consider several career options -- i.e., investment banking, corporate
finance, entrepreneurship, marketing, etc.  As a new MBA student, I would not
want to narrow my window of opportunities to only energy companies.

Here is my perspective and probably something that is true of many MBAs--

My interest in Enron brought me to the energy industry and not vice versa.

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

From Billy Braddock   (MBA class of 1999, Energy Finance taken fall of 1998):

I was a participant in the inaugural Energy Finance program in the Fall of
1998.  The primary positives to the class revolved around outside
panels/instruction.  For example, Enron sent representatives on 2 separate
occasions to discuss particular topics (Vince Kaminski and Gary Hickerson).
Other notable speakers were Jeff Sandefer (independent business consultant
and E&P professional), the Beacon Group, and Encap Investments.  Another good
speaker was a professor from UT's school of engineering.  He brought a good
perspective as to the "basics" of the energy business.

The class was structured via a team-based instruction approach, with 3
professors team-teaching a 6-hour credit course.  None of the 3 professors
had any product knowledge of the energy business.  Of the 3 professors, 2
were research focussed/tenured with little credibility in "teaching."  One of
the professors primary focus of research was fixed income, while the other 2
were investments and corporate finance, respectively.

As is the case for UT's finance program in general, and energy finance in
particular, UT is in dire need of teaching professors (as opposed to research
professors) that have the ability to convey finance with practical examples
and at a level that can be more easily be understood by students without a
finance background.  Particular to the energy program, UT needs to have more
instruction from energy professionals (such as the instructors used for
Enron's internal learning programs (ie. Derivatives classes, etc.).

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

From Bryan Williams  (MBA class of 1999, Energy Finance taken fall of 1998):

I participated in the first Energy Finance class offered in Fall of 1998, at
the University of Texas.

The curriculum was understandably &rough around the edges8 as 1998 was the
first year the Energy Finance course was offered.  However, the instruction
also suffered as none of the instructors had any energy background to speak
of (The 6-credit hour class was team taught by three tenured professors).

Two of the three professors have co-authored textbooks, and the third
professor,s claim to fame is fixed income.  As a group, the three professors
are research-heavy (as opposed to industry focused), and the team-teaching
format did not incent any one of the profs to be personably accountable for
the success of the class.

That said, the instructors did a good job attracting some top notch outside
speakers.  Among them: Vince
Kaminski & Gary Hickerson, both of Enron.  They also dedicated one class
period to a video conference call with the Beacon Group, an energy consulting
group that I believe was recently acquired by Goldman.
Jeff Sandefer, an independent businessman, an entreprenuership instructor,
and one of the foremost experts in the E&P sector, also spoke to the class.
Jeff was joined by some of the executives from Houston-based Encap.

The woes of the Energy Finance could be easily remedied by injecting some
instruction from someone from industry.    The class is too
academic/theoretical with too few relevant examples excerpted from the energy
sector.

The instructors Enron uses for the Derivatives courses taught internally are
good examples of people who can package very relevant information and
successfully articulate it in a couple of days.  Perhaps a similar approach
would bode well for the Energy Finance program at UT.

------------------------------------------------------------------------------
------------------------------------------------------------------------------
----------------------------
From Yuan Tian  (MBA class of 2000, Energy Finance taken fall of 1999):

Here are my thoughts on the UT Energy Finance Program:

Pros:
- more focused on the Finance studies in the Energy Industry which is right
now in a transition period from regulation to deregulation and thus is
exposed to different financial perspectives from the other industries;
- there are some experienced, brand-name professors (e.g. Sheridan Titman)
teaching in the program;

Cons:
- the program should give the students more exposures to energy companies
such as Enron. Specifically, it might need to help students link to the
interview oppurtunites from these energy companies such as Enron;
------------------------------------------------------------------------------
------------------------------------------------------------------------------
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From George Huan  (MBA class of 2000, Energy Finance taken fall of 1999):

Companies expect MBA students to have both general management (new ideas) and
analytic (quantative) skills.  Energy industry is no exception.

Energy Finance Program offers Financial Strategy and Risk Managements courses
which fit in the insudtry need.  However, these two courses are far from
enough to help students understand the dynemic of industrial transformation
and excitements and opportunities in this industry.   Other management and
quantitive courses are needed to complete this program.
My suggestions:

1) Seminars or lectures about energy industry and energy companies. Before
students make their decisions, let them know:  What's happening and what's
going to happen in this industry;  What the companies are doing now;  Who
they are looking for.
2) Management and/or analytical courses should be included.  Such as:
Strategy, Financial enginering and Real Option.
3) More industry connections. Presentations and discussions.

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

From Charlie Weldon (MBA Class of 2000, Energy Finance taken in fall of 1999)

My experience in the Energy Finance program overall was a positive
experience.  The most rewarding part of the class was the guest speakers
brought in during Dr. Titman's portion of the class.  This part of the course
is taught in the second half of the semester and consisted of ~10 case
classes all focusing on the Energy industry.  Two of the cases were based on
Enron, and overall the case selection in my opinion was very appropriate and
well thought out.  Value added by the professor was less than from the
speakers and cases.

The first eight  weeks of the course covered futures and options.  Nearly all
of the examples and problems discussed pertained directly to the energy
industry and special emphasis was placed on increasing the student's
understanding of the supply and demand dynamics in the power market.  The use
of options and futures for speculating and/or hedging was stressed on
numerous occasions and a decent attempt at explaining how to value a power
plant project.

I believe that the University Energy Finance faculty are trying to
continuously make improvements to the program.  However, I do not believe
that they are moving fast enough or necessarily down the right path to
improvement.   There is a strong need for more practical based training on
energy derivatives similar to the course taught by Paradigm here at Enron.
The focus of the University teachers is quite theoretical, due in large part
to their background.  While the theoretical basis is crucial to understanding
the basics, the real value of such a program in my opinion is the effective
bridging of the theoretical with the practical all in one course.

Until measures are taken to inject practicality from someone with extensive
industry experience, I believe the Energy Finance program will continue to
underdeliver on its objectives.  Additionally, I believe that the course
structure should be changed to eliminate the need of having 3 consecutive
hours of classroom instruction.


Stinson,

FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/05/2001
11:45 AM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 02/02/2001 01:39:17 PM
To: TimOpler@Yahoo.com, Raj_Srivastava@bus.emory.edu,
vaysman@mail.utexas.edu, vkamins@enron.com, cpaoli@sternstewart.com,
Bill_Petty@baylor.edu, Michael.froehls@citicorp.com,
Corey.carbonara@systems.tstc.edu, Michael_Korpi@baylor.edu,
Klifford_Kuehl@baylor.edu, Terry_Maness@baylor.edu, dpalumbo@sapient.com,
dchew@sternstewart.com, J_Martin@baylor.edu
cc:
Subject: Reminder

Good afternoon,

I just want to give you a reminder about the one-page questionnaire
regarding arrival and departure times for the workshop.  Your responses
will make planning a bit easier on this end.  Also, please get me your
"one-page" background statement as soon as possible.  I am attaching
Michael Froehl's to give you some guidance (thanks Michael, I thought I was
going to have to prepare mine first).

Let me also tell you that the television producer has requested 15 minutes
of each of your time either the morning of the 23rd before the luncheon or
after the workshops to do individual interviews.  They will then work these
individual shots into the final edited program (bring your best TV smiles).
 By the way, I have been assured by the producer that we have final say
over whether particular comments are edited in or out of the final product
so we can all relax, this is not live TV.

I'll be out of town the end of next week but hope to have all my plans put
together the following week so please respond to both the questionnaire and
the request for a one-page background/positions/ideas write-up.

Thanks guys and I'm looking forward to seeing you all very soon.

John

p.s. In case you've misplaced it I have appended a copy of the questionnaire.

 - Waco_background_MF.doc
 - Questionnaire.doc

John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


Rick,

Aside from what you already know on the Enron de Mexico ENA regulatory and
commercial front (in documents that I gave you), I am also supporting
HydroMod and EBS in their efforts to materialize business oportunities in
Mexico.

Attached you will find activity reports on these matters.

Enron de Mexico has also taken an active  role in the Bufete Industrial deal
with EE&CC although I do not have anything to do with that.  Nevertheless, I
should say that the One Enron approach is at work in the Mexico City office.

Apparently very soon EBS is going to sublet some space in our MX City office
and get someone on the ground permanently.  They have been talking about the
possibility of getting some regulatory support here from me.  Is this
convenient for our organization?  How should we go about it?

Best,

Ricardo


Andy Fastow's office has requested that I forward to all Enron attorneys.  If you have any questions, please contact Andy Fastow.

 -----Original Message-----
From: 	Maronge, Bridget
Sent:	Thursday, August 02, 2001 9:39 AM
To:	Davidson, Sara
Cc:	Fastow, Andrew
Subject:	FW: Private Equity Transactions and LJM2 (From A Fastow)

Sara, per our conversation, please forward the following message to all Enron attorneys.

Thanks.

Bridget

 -----Original Message-----
From: 	Maronge, Bridget
Sent:	Thursday, August 02, 2001 9:35 AM
To:	Blachman, Jeremy; Bowen Jr., Raymond; Brown, Michael - COO London; Buy, Rick; Causey, Richard; Cline, Wade; Cox, David; Delainey, David; Derrick Jr., James; Dietrich, Janet; Donahue, Jeff; Kitchen, Louise; Koenig, Mark; Lavorato, John; Lay, Kenneth; Leff, Dan; McCarty, Danny; Mcconnell, Mike; Metts, Mark; Muller, Mark; Olson, Cindy; Piper, Greg; Rice, Ken; Scrimshaw, Matthew; Shankman, Jeffrey A.; Sherrick, Jeffrey; Sherriff, John; Skilling, Jeff; Sunde, Marty; Whalley, Greg; Butts, Bob; Colwell, Wes; Faldyn, Rodney; Siurek, Ryan; Lindsey, Mark E.; Fallon, Jim; Frevert, Mark; Glisan, Ben; Hannon, Kevin; Hayslett, Rod; Horton, Stanley; Hughes, James A.; Kean, Steven J.; Anderson, Peter N.; Birmingham, Mary; Boots, Kelly H.; Boyle, Dan; Castagnola, Daniel; Caudell, Greg; Dechow, Patricia K.; Delacey, Charles; Despain, Tim; Freeland, Clint; Garcia, Paul; Gibson, Roy; Gonzalez, Luis; Heineman, Sarah; Hendricks, Lois; Hiltabrand, Thomas J.; Hudler, Shirley A.; Jens, Felipe; Loehr, Chris; Mata, Jessie; McIntyre, Kelley; Mckean, George; McSpadden, Carol; Mitchell, David; Mintz, Jordan; Moehlman, Cathy; Newgard, Jim; Nogid, Jeff; Perkins, Mary; Pullicino, Marcus; Poleo, Jesus; Popovich, Dragan; Kopper, Michael; Richardson, James; Rodriguez, Ramona; Round, Samuel; Schnapper, Barry; Simien, Jimmy; Steinbrueck, Brian; Swinford, Brian; Swisher, Nera; Veariel, Robin; Wenz, Michelle; Wesner-Soong, Sarah; Winfrey, Travis; Yaeger, Anne; Zarate, Maritza; Davidson, Sara; Hart, Reginald; Kuykendall, Kent; Miller, Michael J; Perry, Pamela; Randolph, Ruth; Randolph, Trevor
Cc:	Fastow, Andrew
Subject:	Private Equity Transactions and LJM2 (From A Fastow)

Please note that LJM2 Co-Investment, L.P. ("LJM2") is no longer a "related party" for purposes of disclosure in Enron's proxy and financial statements.  Transactions may occur with LJM2 as with any other unrelated third party.

Andy Fastow
EVP/CFO, ENRON


I'll be getting into Newark on Saturday the first on Continental flight 206 at 2:21 p.m.

Mark Taylor
Vice President and General Counsel
Enron Wholesale Services
(713)853-7459


We have received the executed EEI Master Power Purchase and Sale Agreement dated 5/16/2001.  Copies will be given to legal and credit.


Louise,

I want to make sure we are on exactly the same wavelength here:

EnronOnline (i.e. the people on the list you gave me) now reports to you through me and therefore is no longer a part of Enron Networks.

Right?

Dave


-----Original Message-----
From: 	"BNA Highlights" <bhighlig@bna.com>@ENRON
Sent:	Thursday, December 27, 2001 11:14 PM
To:	BNA Highlights
Subject:	Dec. 28 -- BNA, Inc. Antitrust & Trade Regulation Daily

__________________________________

ANTITRUST & TRADE REGULATION DAILY
Highlights
Friday, December 28, 2001
__________________________________

ISSN 1526-520X

__________

HIGHLIGHTS
__________

FTC STAFF RELEASES FINANCIAL PRIVACY GUIDANCE
Financial institutions in search of help complying with the
Federal Trade Commission's consumer privacy regulations may
find it in the form of answers to frequently asked questions
issued on Dec. 12 by the FTC staff.

http://pubs.bna.com/ip/BNA/atd.nsf/id/A0A5B3R4B7_

DOJ HAS DIM VIEW OF BA-AMERICAN ALLIANCE, PROPOSES
DIVESTITURES TO ENSURE COMPETITION
The Justice Department, generating a crosswind for a
proposed airline industry alliance, on Dec. 17 indicated
that the current deal advanced by American Airlines and
British Airways could be a threat to competition.

http://pubs.bna.com/ip/BNA/atd.nsf/id/A0A5B3R4C6_

___________________________________________________________
Antitrust & Trade Regulation Daily (ISSN 1526-520X)
Highlights are published daily by The Bureau of National
Affairs, Inc., 1231 25th St., NW, Washington, DC 20037.

Registered Web subscribers can access the full text of these
articles by using the URL link supplied.

To register for a FREE Web trial, go to http://web.bna.com.
For subscription information and other inquiries, call BNA
Customer Relations at 1-800-372-1033, Mon. - Fri. 8:30 am -
7:00 pm (ET), excluding most federal holidays.

To request retransmission or to order a copy of the
summarized article, contact 1-800-452-7773 or e-mail
bnaplus@bna.com.

For copyright guidelines, go to
http://www.bna.com/corp/copyright.

Copyright (c) 2001 by The Bureau of National Affairs, Inc.
Washington, D.C.  20037.  Use of this service is subject to
the terms and conditions of the license agreement with BNA.
Unauthorized access or distribution is prohibited.


---------------------- Forwarded by Mark E Taylor/HOU/ECT on 10/01/99 01:53
PM ---------------------------

"Kenneth M. Raisler" <RAISLERK@sullcrom.com> on 09/16/99 09:55:07 AM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: October 29 Meeting

I will be availabe for dinner on Thursday night, October 28.  I arrive in
Houston at 5:40 p.m.  I have a 6:54 p.m. flight on Friday.

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