Allison, could you please forward to Terry Banks and the F-H guys?  Thanks

___________________________

Category:	Enron Broadband Services, Bandwidth Trading
Description:	Is Latest Fiber Optic Play Enron?
Detail:
Dow Jones News Service  2/3/00

Investors can't get enough fiber. And we're not talking about a bowl of
Cheerios or Special K.

 We're talking about fiber optics.

 Telecommunications companies such as Qwest Communications (QWST), Global
Crossing (GBLX) and Level 3 Communications
 (LVLT) are racing to build new fiber-optic networks so that high-bandwidth
applications like video can travel faster and be clearer when
 they reach the desktop. The huge growth of the Internet has increased the
need for more capacity on old fiber and copper wire
 networks. All sorts of new switches, routers, servers and software are being
used to build the new networks and beef up the old ones.

 The need for fiber and gadgets that enhance networks prompted Corning (GLW)
- that erstwhile dishmaker - to announce Thursday that
 it will spend $750 million to increase its fiber-optics manufacturing
capacity by 50% over the next few years. And the trend has sent
 stocks like JDS Uniphase (JDSU), SDL (SDLI) and Sycamore Networks (SCMR)
through the roof.

 The excitement over fiber optics and increasing bandwidth is also juicing up
shares of an old natural gas and electric company called
 Enron (ENE). True, Enron isn't a typical energy or utility company: The
Houston-based company is known for leading the charge of
 wholesale marketing and trading of gas and electricity. But Enron has never
been considered a telecommunications company.

 Until now.

 After trading between $28.75 and $44.875 last year, Enron shares shot up 65%
to a new high of $73.06 last month, after the company
 held its annual analysts' conference where it unveiled its new
communications strategy and a surprising joint venture with Sun
 Microsystems (SUNW). Wall Street was smitten. "Although this is still an
energy company, in our view, Enron fits the description of a
 'new economy' stock" because it has moved its wholesale trading operations
online and announced a unique broadband strategy, wrote
 Donato Eassey, a Wall Street Journal All-Star analyst at Merrill Lynch.

 Enron has been building its broadband business since 1997, when it acquired
Portland General Electric, which started building a
 fiber-optic network. Enron invited both telecom analysts and the usual
contingent of natural gas analysts to its Jan. 20 meeting. The
 company presented its new network, which is based on fiber; servers that are
ramps on and off the network; "pooling points," which are
 essentially switches that connect its network to other networks; and
software to control the transmission of data. The company is using
 networking gear mostly from Lucent Technology (LU) and Cisco Systems (CSCO).
By the end of 2001, Enron expects to increase its
 network to 18,000 miles from about 13,000 miles now - a sizeable slice of
the roughly 200,000 miles of fiber in the U.S.

 The company also announced a joint venture with Sun Microsystems to develop
a standard technology for accessing real-time
 bandwidth and supply Enron with 18,000 servers. With Sun CEO Scott McNealy
at their side, Enron executives said Sun will purchase
 broadband video streaming services from Enron. "All we can say is WOW!"
wrote Edward Tirello Jr. at Deutsche Bank Alex. Brown in
 a note after the show. "Just when we began to ponder the potential with a
very healthy skepticism, Enron brilliantly anticipated the
 reaction and thrust Sun Microsystems' billionaire CEO Scott McNealy into the
mix."

 Fund managers have been intrigued by Enron's transformation, too. Back in
December, the Janus Fund (JANSX) snapped up 15.6
 million shares of Enron, bringing its stake to more than 25.5 million shares
and making it by far the largest holder of the stock, according
 to the latest monthly data from Morningstar. And Fidelity's huge Magellan
(FMAGX) fund nearly doubled its stake in Enron to 4.6
 million shares in December. Says Marion Schultheis, managing director at J.
& W. Seligman, who owns the stock in two growth funds
 and is looking to buy more: "Now there are real tech people looking at
Enron."

 Analysts think Enron's stock can climb even higher. "In January, it was just
the first step of the market realizing what this company is
 doing," says Erik Ruben, an analyst at Janus Capital. "It is such an
extraordinary story." Wall Street Journal All-Star analyst Rick Gross
 at Lehman Brothers agrees. The natural gas analyst is quick to point out
that the stock is also reflecting strength in Enron's wholesale gas
 and electric business and the company's success in turning its energy
services business profitable for the first time in the fourth quarter.

 Enron plans to use its network in two ways. The first business is bandwidth
intermediation, which involves using its own network and
 other networks to provide businesses and Internet service providers with
full bandwidth needs. Enron aims to lower the cost of using
 networks by charging customers for only the time and space they use on the
network. Right now, customers that need space on a
 network have to enter long-term contracts for preset amounts of capacity
with major telecommunications providers such as AT&T (T)
 and MCI WorldCom (WCOM). Enron has also developed a standard bandwidth
contract that pools existing contracts or unused
 capacity that can be traded in a marketplace (see story for more).

 Basically, the company plans to make money on the spread between buying and
selling prices for bandwidth, along with financing
 services. The company has already proved it can profitably buy and sell
natural gas and electricity contracts in the same manner. Ronald
 Barone at PaineWebber figures that the bandwidth intermediation business
will generate gross operating income of more than $500
 million in 2004, from an estimated $9 million this year.

 The second business is providing broadband content services such as video
conferencing and streaming. The company is using its own
 messaging software (acquired from a company called Modulus), along with
Inktomi (INKT) caching software to control distribution of
 content across its network and RealNetworks' (RWNK) video streaming
software. It is also using switch routers that control data flows
 made by a privately held company called Avici Systems. The company expects
to generate content revenue of $2.5 billion in 2004, up
 from an estimated $45 million this year, according to Barone.

 The whole broadband services unit is expected to spend $650 million and lose
$60 million (before interest and taxes) this year, Barone
 says. But right now, the stock is hardly reflecting this business, says
Lehman's Gross. "The non-broadband business is valued at $55 to
 $60, so there's very little in the stock for its broadband assets," he says.
Many analysts have raised their 12-month stock price targets to
 $90 to $100, giving Enron's broadband business a value of $30 to $40 a
share.

 Enron's broadband strategy is catching a lot of attention, but some of the
established telecom companies, such as MCI WorldCom
 (WCOM), doubt that it will be successful. Still, Global Crossing, which was
the first to sell bandwidth between New York and Los
 Angeles to Enron in December, has indicated that it thinks the bandwidth -
trading concept can work. It's just a question of when.
 "Enron is going to be a winner in bandwidth trading ," agrees Brad Bradshaw,
senior director at the Yankee Group. "It's going to take
 a while, though."

 Even if the broadband plans don't work out, Enron has a thriving energy
business to fall back on. The company owns gas pipelines, sells
 wholesale gas and electricity in North America both traditionally and online
and manages energy needs for large companies such as
 Chase Manhattan (CMB) and Simon Property Group (SPG). Says Janus' Ruben.
"Its energy businesses are equally
 paradigm-breaking."

 For more information and analysis of companies and mutual funds, visit
SmartMoney.com at http://www.smartmoney.com/


Matt Motley
deal 516539
error:  Bloomberg shows price as $160.00 and enpower has $167.00


As many of you know, I am relocating myself and my family to Portland.  I
have a found a new house (yeah!) but need to move my family up here before
the house will be ready.  So,  I am looking for a house to sit or a furnished
house or apartment to rent. Two bedrooms or larger.  We would occupy the
abode through April 14.  I can begin the sit/rental immediately but no later
than March 31.

If you know of something, please come see me.

Thanks,

Alan Comnes
x8129


FYI.
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/19/2001 03:23
PM ---------------------------

Taffy Milligan@ECT
03/12/2001 01:19 PM
To: Alan Aronowitz/HOU/ECT@ECT, Andrew Edison/NA/Enron@Enron, Angela
Davis/NA/Enron@Enron, Ann Elizabeth White/HOU/ECT@ECT, Anne C
Koehler/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT,
Becky Spencer/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, Brenda
Whitehead/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Carlos Sole@ENRON, Carol
St Clair@ECT, Carolyn George/Corp/Enron@ENRON, Cheryl Nelson/NA/Enron@Enron,
Claudia Meraz/HOU/ECT@ECT, Claudia Perez/NA/Enron@ENRON, Connie
Castillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Coralina
Rivera/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dan J Hyvl/HOU/ECT@ECT, Dan
Lyons/HOU/ECT@ECT, Daniel R Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Portz/HOU/ECT@ECT, Deb Korkmas/HOU/ECT@ECT, Debra Perlingiere/HOU/ECT@ECT,
Diane Goode/NA/Enron@Enron, Dina Snow/Corp/Enron@Enron, Ed B Hearn III@ECT,
Eddy Daniels/NA/Enron@Enron, Elizabeth Sager/HOU/ECT@ECT, Eric
Gillaspie/HOU/ECT@ECT, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPME, Genia FitzGerald/HOU/ECT@ECT, Gerald
Nemec/HOU/ECT@ECT, Gloria Cruz/Corp/Enron@Enron, Harry M Collins/HOU/ECT@ECT,
Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James
Grace/Corp/Enron@ENRON, Janet.H.Moore@enron.com, Janice R Moore/HOU/ECT@ECT,
Jeffrey T Hodge@ECT, Jenny Helton/HOU/ECT@ect, John
Viverito/Corp/Enron@Enron, Julia Murray/HOU/ECT@ECT, Kathleen
Carnahan/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron, Kay Young/HOU/ECT@ECT,
Kaye Ellis/HOU/ECT@ECT, Kimberlee A Bennick@ECT, Lance
Schuler-Legal/HOU/ECT@ECT, Larry Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Laurie Mayer/HOU/ECT@ECT, Legal Temp 1/HOU/ECT@ECT, Legal Temp 2/HOU/ECT@ECT,
Legal Temp 3/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Linda J
Simmons/HOU/ECT@ECT, Linda R Guinn/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT,
Lou Stoler/HOU/ECT@ECT, Marcus Nettelton/NA/Enron@ENRON, Margaret
Doucette/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark E Haedicke/HOU/ECT@ECT,
Mark Greenberg/NA/Enron@ENRON, Mark Taylor/HOU/ECT@ECT, Martha
Braddy/ENRON_DEVELOPMENT@ENRON_, Development Testuser/HOU/ECT, Mary
Cook/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Mary Ogden/HOU/ECT@ECT, Matt
Maxwell/Corp/Enron@ENRON, Merrill W Haas/HOU/ECT@ECT, Michael A
Robison/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT, Nancy
Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ned E
Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Nony Flores/HOU/ECT@ECT, Pat
Radford/HOU/ECT@ECT, Paula Craft/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT,
Peter del Vecchio/HOU/ECT@ECT, Reginald Shanks/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Robert H
George/NA/Enron@Enron, Robert Walker/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT,
Samantha Boyd/NA/Enron@Enron, Samantha Ferguson/NA/Enron@Enron, Sandi M
Braband/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Sarah
MacDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Shari Stack/HOU/ECT@ECT,
Shawna Flynn/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Sheri L
Cromwell/HOU/ECT@ECT, Shonnie Daniel/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron, Steve Van
Hooser/HOU/ECT@ECT, Stuart Zisman/HOU/ECT@ECT, /HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT, Suzanne Adams/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT,
Tana Jones/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Travis
McCullough/HOU/ECT@ECT, Twanda Sweet/HOU/ECT@ECT, Wayne Gresham/HOU/ECT@ECT
cc:

Subject: Alphabetic Phone List - EWS Legal


Effective Monday, November 6, Stan Horton's weekly staff meeting will be
expanded to include representatives from ETS marketing, regulatory, legal and
operations in order to facilitate the communication and discussion of key
commercial matters.  This revised staff meeting format will eliminate the
need for Dan McCarty's and Julia White's separate Monday morning staff
meetings.

With the expansion of the attendee list, it is important that reports be
concise and focused on new developments that have not been previously
communicated.

These meetings will begin at 9:15AM and are expected to conclude by 10:30AM.

Cindy


youre late

-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 26, 2001 8:22 AM
To: Maggi, Mike
Subject: RE:

Because there is traffic.  I am walking in now.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


I will be there!  --Sally

	From:  Ted C Bland                           08/17/2000 07:48 AM

To: David Oxley/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT,
Max Yzaguirre/NA/Enron@ENRON, Rob Milnthorp/CAL/ECT@ECT, Janet R
Dietrich/HOU/ECT@ECT, George McCormick/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT,
Heather Kendall/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Elsa
Piekielniak/Corp/Enron@Enron, Jesus Melendrez/Corp/Enron@Enron, Rodney
Malcolm/HOU/ECT@ECT, Kevin McGowan/Corp/Enron@ENRON, Jere C
Overdyke/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Tom Shelton/HOU/ECT@ECT,
Jean Mrha/NA/Enron@Enron, Bryan Burnett/HOU/ECT@ECT, Vince J
Kaminski/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT
cc: Mark Frevert/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Tim O'Rourke/Corp/Enron@Enron
Subject: Initial meeting of the ENA Analyst and Associate Roundtable August
18, 2000

Just a reminder we will have the initial meeting of the ENA/ AA Roundtable on
Friday at 9:00am in room EB30C1.  Again, the agenda is as follows:

Discussion of PRC
Immediate and future AA needs by business unit
Skill shortages
Campus and off-cycle recruitment
Mottom 10% management
Projecting AA needs from core schools for Summer 2001 intake
Existing talent in specialist roles who should be in AA Program
Ideas/suggestions on how we improve the Program/ENA retention

Your groups need to be represented and if you can't attend please send
someone to represent you.  Those of you out of town need to call me if you
have any input.    Thanks again for all your support.  Ted


Tana:

Trafigura Derivatives Limited is NOT authorized to trade US power --
restricted by credit.

Leslie


http://www.soton.ac.uk/~scp93ch/morse/

Here you are Kilo Whisky! Give Sierra Nevada my love!!!!


The form we have has this as the first paragraph, which is different from the
form attached.  Could you conform the NW one to the form?

Enron North America Corp. (&ENA8 or the "Protected Party") is prepared to
furnish [__________________] (&*8 or the "Receiving Party") with certain
information which is either confidential, proprietary or otherwise not
generally available to the public in connection with: (i) the potential sale
of one or more of the Protected Party's power plant development projects
and/or one of more of the special purpose companies which own such projects
in [states],  (collectively, the &Projects8) for purposes of evaluating one
or more transactions between Protected Party and   * involving the Projects
(collectively, the &Proposed Transaction8).


Hey Dave,  that sounds good to me.  I will see what days I have off of work
and get back to you tommorow night but I was planning on coming down for it
all along.  Like i said i well let you know tommorow. Hope all is well.


please print
----- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/26/2001 10:47 AM -----

	Douglas S Friedman
	01/23/2001 06:55 PM

		 To: Jeffrey A Shankman/HOU/ECT@ECT
		 cc: John L Nowlan/HOU/ECT@ECT
		 Subject: ENVERA DEAL DESCRIPTION

Jeff:

Attached you will find three files:

1) The brief description of the Envera deal you requested. ("deal summary
final")
2) A diagram showing one potential view of how the e-Marketplace for
Chemicals will look and where Enron would fit in. ("deal summary e-commerce
marketplace")
3) A slide from Envera displaying their connectivity concept.  Enron will
participate as a Member, a Service Provider and an Owner. ("basic envera
concept")

Deals obviously are never done till they're done, but this one is 95+ %
there.  We've received Envera Board Approval and signatures from 1/3 of the
Owners' granting consent to issue equity to Enron.

Thanks to both you and John for your support.  We could not have come this
far without it.

Doug


On July 1st, Project Apollo and Beyond launched its final SAP implementation.
Enron now has an integrated, common financial, human resources, procurement,
and project management system throughout the majority of Enron's businesses.
By far Enron,s largest SAP implementation, this &go live8 added approximately
8500 new users ) raising the total user population from Apollo and Beyond
implementation efforts to over 13,000 Enron employees and contractors.

A highlight of this implementation was the rollout of eHRonline, an
intranet-based system that enables individuals to manage their personal
information and time management activities plus view their pay information
and benefit elections.  This new system gives the power and capability for
managing your information to the person who knows the most about it ) YOU!

The Apollo and Beyond solution will yield savings of over $30 million per
year plus provide increased speed and accuracy of information.  Once
post-implementation efforts have been successfully completed, the focus will
turn to system support, enhancements, and additional projects to help
leverage Enron's SAP system for increased growth and profitability.

Many thanks to the HR, financial, project and procurement communities for
their efforts towards the vision of +One Enron,!

For questions or assistance, please contact Enron,s SAP support organization
at 713-345-4SAP.


per my voicemail
---------------------- Forwarded by Steven J Kean/NA/Enron on 05/25/2001
01:33 PM ---------------------------

"Wenner, Adam" <awenner@velaw.com> on 05/25/2001 09:28:18 AM
To: "Kean, Steven (Enron Corp.)" <skean@enron.com>
cc:

Subject: Governor Davis' Power Grab

Steve - per my voicemail, before we released this article that I prepared,
we wanted to run it by you to make sure that Enron is comfortable with it.
Thanks, Adam.
          ++++++CONFIDENTIALITY NOTICE+++++
The information in this email may be confidential and/or privileged.  This
email is intended to be reviewed by only the individual or organization
named above.  If you are not the intended recipient or an authorized
representative of the intended recipient, you are hereby notified that any
review, dissemination or copying of this email and its attachments, if any,
or the information contained herein is prohibited.  If you have received
this email in error, please immediately notify the sender by return email
and delete this email from your system.  Thank You
 <<143590_1.DOC>>

 - 143590_1.DOC


---------------------- Forwarded by Soma Ghosh/HOU/ECT on 09/20/2000 10:27 AM
---------------------------

Cris Sherman
09/20/2000 03:50 PM
To: Soma Ghosh/HOU/ECT@ECT
cc:
Subject: Re: Alberta pre-pay collateral

I am fine w/ the use of a letter of credit from an accounting perspective.  I
am sure the treasury people understand the effect of the loc on their
available credit lines.  By the way. how much will the loc be for?

Soma Ghosh
09/20/2000 09:32 AM
To: Cris Sherman/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Catherine Clark/HOU/ECT@ECT, Brian
Kerrigan/HOU/ECT@ECT
Subject: Alberta pre-pay collateral

Cris,

Following up on our conversation yesterday, I would be grateful if you would
please confirm that from an accounting perspective we can use L/C's as
collateral within our proposed structure.

Having spoken with Legal & Credit, I understand that the use of cash as
collateral creates difficulties under Canadian bankruptcy law regarding title
to security & rights of set-off, therefore use of L/Cs would be the preferred
route.

Sara, can we revert to using L/C as collateral within docs.

Many thanks,

Soma


The message that you sent was opened by the following:
	markm@cajunusa.com

Information about your message:
	Subject: Superbowl Party
	Message-Id: <31738B46B7BD864080808A19977D9F755A396E@NAHOU-MSMBX03V.corp.enron.com>


Attached is the info on Stuart w/the updated info on the bottom.


For all who are interested, I have placed the ERCOT protocols of Jan 5, 2001
that the PUCT have approved on the M drive.

The path is M:/electric/ERCOT/1_5_01protocols

Mock market update:  We were successful in sending balanced schedules
yesterday.  Thanks to Jeff for lending a hand on building the mock position
manager.

Today Fronterra is scheduled to respond to test signals from ERCOT starting
at 1pm.

Smith


Attached please find the revised Legal and Privacy statement for
EnronOnline.  Please do not hesitate to call me at *36121 with any questions
or comments.

Leslie


Alright, which one of you sent the "Just a Tip" thing? I haven't opened it
yet. Is it ok to open at work? I'm serious. This is a small place, and I
just started, and they're pretty straight laced around here. If I open
something bad and get fired I wouldn't be too happy.


Ken will be out of the office.

Sherri Sera
09/21/2000 02:53 PM

To: David W Delainey/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON, Ben F
Glisan/HOU/ECT@ECT, J Mark Metts/NA/Enron@Enron, Jeffrey
Sherrick/Corp/Enron@ENRON, Kenneth Lay/Corp/Enron@ENRON, Jeff
Skilling/Corp/Enron@ENRON, Joseph W
Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James M
Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff Baxter/HOU/ECT@ECT,
Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Buy/HOU/ECT@ECT,
Richard Causey/Corp/Enron@ENRON, Diomedes Christodoulou/SA/Enron@Enron,
Andrew S Fastow/HOU/ECT@ECT, PEGGY FOWLER/ENRON@Gateway, Mark
Frevert/NA/Enron@Enron, Kevin Hannon/Enron Communications@Enron
Communications, David Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stanley
Horton/Corp/Enron@Enron, Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Steven J Kean/NA/Enron@Enron, Mark Koenig/Corp/Enron@ENRON, Mike
McConnell/HOU/ECT@ECT, Rebecca McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jeffrey McMahon/HOU/ECT@ECT, Lou L Pai/HOU/EES@EES, Ken Rice/Enron
Communications@Enron Communications, John Sherriff/LON/ECT@ECT, Greg
Whalley/HOU/ECT@ECT, Thomas E White/HOU/EES@EES
cc: Kay Chapman/HOU/ECT@ECT, Jana Mills/HOU/ECT@ECT, Inez
Dauterive/HOU/ECT@ECT, Linda Fuqua/NA/Enron@Enron, Marcia
Manarin/SA/Enron@Enron, Susan Skarness/HOU/ECT@ECT, Stacy
Guidroz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beena
Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen K Heathman/HOU/ECT@ECT,
Sharron Westbrook/Corp/Enron@ENRON, Molly Bobrow/NA/Enron@Enron, Rosane
Fabozzi/SA/Enron@Enron, Stephanie Harris/Corp/Enron@ENRON, Bridget
Maronge/HOU/ECT@ECT, Mary_trosper@pgn.com, Nicki Daw/NA/Enron@Enron, Carol
Ann Brown/Enron Communications@Enron Communications, Elaine
Rodriguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cindy Stark/Corp/Enron@ENRON,
Mary E Garza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maureen
McVicker/NA/Enron@Enron, Joannie Williamson/Corp/Enron@ENRON, Rosalee
Fleming/Corp/Enron@ENRON, Vanessa Groscrand/Corp/Enron@ENRON, Cathy
Phillips/HOU/ECT@ECT, Loretta Brelsford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Sue Ford/HOU/ECT@ECT, Dolores Fisher/NA/Enron@Enron, Karen Owens/HOU/EES@EES,
Dorothy Dalton/Enron Communications@Enron Communications, Christina
Grow/Corp/Enron@ENRON, Lauren Urquhart/LON/ECT@ECT, Sherri
Sera/Corp/Enron@ENRON, Katherine Brown/Corp/Enron@ENRON, Pam
Benson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Liz M Taylor/HOU/ECT@ECT, Judy G
Smith/HOU/EES@EES, Bobbie Power/Corp/Enron@ENRON
Subject: EXECUTIVE COMMITTEE MEETING - MONDAY, SEPTEMBER 25

Executive Committee Weekly Meeting
Date:  Monday, September 25
Time:  11:00 a.m. (CDT)
Location: 50th Floor Boardroom
Video:  Connections will be established with remote locations upon request.
Conf call: AT&T lines have been reserved.  Please contact Sherri Sera
(713/853-5984)
  or Katherine Brown (713/345-7774) for the weekly dial-in number and
passcode.

Please indicate below whether or not you plan to attend this meeting and
through what medium.

 Yes, I will attend in person _______

 By video conference from _______

 By conference call  _______

 No, I will not attend  _______

*  *  *

Please return this e-mail to me with your response by 12:00 p.m., Friday,
September 22.

Thank you,
Sherri


Rick, here are the two Enron Corp. guarantees and the two in-house counsel
opinions with respect thereto for your review.  I just spoke with Sara and
she and Tana Jones are currently turning the ISDA documents.  She will
distribute them directly to you later today.  Can you please include Clement
Abrams (clement.abrams@enron.com) on the distribution list for the
Acknowledgement Agreement?

Thanks

Greg
---------------------- Forwarded by Greg Johnston/CAL/ECT on 09/22/2000 04:12
PM ---------------------------
From: Clement Abrams@ENRON on 09/22/2000 05:06 PM CDT
To: Greg Johnston/CAL/ECT@ECT
cc: Brian Kerrigan/HOU/ECT@ECT, Cris Sherman/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, bpechersky@velaw.com
Subject: Re: Alberta PPA Prepay Transaction

Greg,

Here are the revised docs containing revisions requested by RBC's counsel and
additional comments made internally (discussed with RBC's counsel).  Also,
there was some discussion regarding an Acknowledgement Agreement and it being
included in the definition of Guaranteed Obligations in the guarantees. Has
that document been finalized,and if so, will it be distributed.

Clement

Guarantees:

,

Opinions:

,

	Greg Johnston@ECT
	09/22/2000 11:47 AM

		 To: Clement Abrams/Corp/Enron@ENRON, Sara Shackleton/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT
		 cc: Cris Sherman/HOU/ECT@ECT, Brian Kerrigan/HOU/ECT@ECT
		 Subject: Alberta PPA Prepay Transaction

Clement, Sara and Tana, could each of you please e-mail to Cris Sherman as
soon as possible the most recent versions of the documents each of you were
preparing for the prepay transaction with RBC.  I think that amendments were
made yesterday to the documents to account for the bank's comments but those
updated drafts were not distributed once we realized the deal wasn't going to
happen for today.  If you could also please copy Brian and myself with that
e-mail so each of us have the most recent versions for when we revisit the
structure next week.

Thanks

Greg


Holly, I already mailed the documents out to meet the Fedex deadline.  Can
you substitute these pages out later, or hand write the changes?

	"Mitchell, Holly" <hollymitchell@dwt.com>
	07/28/2000 05:31 PM

		 To: "'tana.jones@enron.com'" <tana.jones@enron.com>
		 cc:
		 Subject: Process Agent

Stewart L. Thomas
Bellingham Cold Storage Co.
2825 Roeder Ave.
P.O. Box 895
Bellingham, WA 98227-0895

P.S. I just noticed that the zip code for BCS on page 4 of the Schedule to
the Master Agreement is not right. Can you please change as per the above?
Thanks


Michael Corbally just wanted me to confirm the following with you.  Per the
list of Datasources you sent me, for France we've got Meteo France listed at
the Paris address.  We had a confirm earlier this year using Meteo France
where we used their Toulouse address.  I just wanted to confirm that the
address we want as the standard address will be the Meteo France out of
Paris, not Toulouse.  If you'll just confirm that for me.


Carrin & Jim --

It was an honor and a pleasure to meet both of you yesterday.  I know we will
have fun working together on this very special event.

Jeff left the jurisprudence luncheon lists for me before he left on vacation.
 I wasn't sure whether he transmitted them to you as well.  Would you please
advise me if you would like them sent to you?  I can email the MS Excel files
or I can fax the hard copies to you.   Please advise what is most convenient.

I plan to be in town through the holidays and can be reached by phone, email,
or cell phone at any time.  My cell phone number is 713/705-4829.

Thanks again for your interest in the ADL's work.  Martin.

Martin B. Cominsky
Director, Southwest Region
Anti-Defamation League
713/627-3490, ext. 122
713/627-2011 (fax)
MCominsky@aol.com


UK: UK Coalpower keen for 500MW station at Hatfield.
Reuters English News Service, 10/12/01
Enron's Azurix faces damages claim if rescinds Buenos Aires water contract
AFX News, 10/12/01
Enron backs away from Coburg plant
Associated Press Newswires, 10/12/01
UK Crt Blocks Challenge To Intl Arbitration In Enron Spat
Dow Jones International News, 10/12/01
London court blocks challenge to international arbitration in Enron dispute
Associated Press Newswires, 10/12/01
INDIA PRESS:State Govt Restrained From Challenging Dabhol
Dow Jones International News, 10/12/01
India: Enron may seek $30 m to exit Greenfield
Business Line (The Hindu), 10/12/01
India: Dabhol gets restraint order from UK court
Business Line (The Hindu), 10/12/01
USA: Sempra's fiber/natgas technology could begin in Dec.
Reuters English News Service, 10/11/01

UK: UK Coalpower keen for 500MW station at Hatfield.

10/12/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, Oct 12 (Reuters) - Coalpower, the company set up by former RJB Mining chief Richard Budge, says it would like to build a coal-fired power station near its newly acquired Hatfield colliery in South Yorkshire, northern England.
"We are keen to build a 500 megawatt clean coal power plant and are talking to various people", Budge told Reuters on Thursday, adding the chances of such a station coming to fruition would be closely linked to the outcome of Britain's current review of its energy needs to 2050.
"Let's see what comes out of the energy review - if it's positive for coal gasification it will not just be our plant that will be built, others will be."
Coalpower acquired the Hatfield coal mine on Monday, beating off competition from U.S. energy group Enron and UK Coal (formerly RJB Mining) and is spending about five million pounds ($8.4 million) to restart production.
Budge said Hatfield has the potential to become a long-life pit with its 100 million tonnes of contiguous coal reserves and he is looking for output in excess of 500,000 tonnes a year.
"Hatfield is the optimum site for a coal gasification combined cycle plant", said Budge, adding Britain needed coal generation to maintain a balanced and diverse energy portfolio.
The government has said it is concerned about Britain's projected dependence on imported natural gas.
Conventional coal burning power stations are high in fossil fuel emissions, which many scientists believe contribute to global warming. But gasification combined cycle technology converts coal to a gaseous fuel from which most of the impurities are removed prior to combustion.
Supporters of coal say the clean coal technology can address many of the environmental concerns of burning coal.
Coal mining in Britain has been in decline for decades, but the fuel still accounts for about a third of its power generation and recent signs point to the industry enjoying a mini revival.
A doubling in the price of British natural gas over the last year has led to a rise in coal demand as electricity generators seek out the cheapest fuel in a highly competitive market. The increased demand for coal has propelled prices to about 35 pounds a tonne compared with 22.50 #18 months ago.

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

Enron's Azurix faces damages claim if rescinds Buenos Aires water contract

10/12/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

BUENOS AIRES (AFX) - Enron Corp water and sewage unit Azurix Buenos Aires SA faces a claim for compensation unless it reverses plans to rescind its concession to provide the province's water and sewage services, financial daily Buenos Aires Economico reported.
The damages claim would be filed by public prosecutor Ricardo Szelagowski, the newspaper cited provincial secretary for public services, Eduardo Sicaro, as saying.
Azurix said earlier this week it will rescind the concession on Jan 2, but continue operating the service "until the provincial authorities, or the operator it designates, take charge of assets and operations".
jms For more information and to contact AFX: www.afxnews.com and www.afxpress.com

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

Enron backs away from Coburg plant

10/12/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

COBURG, Ore. (AP) - Enron will not be a partner in a proposed natural gas power plant here, the project's managing director said Thursday.
But Gary Marcus, who owns Coburg Power, said losing the Texas-based conglomerate will not stop the project.
"Enron never drove this deal," he said. "I invited Enron into the deal."
Marcus said Enron's participation improved the quality of the plant's design but slowed the decision-making process. Marcus predicted he will find a new backer in less than six months and will have a license to build the project within a year.
Enron backed out because the project did not meet its market strategy, Marcus said.
Enron officials couldn't be reached for comment.
Enron's departure will do little to appease local residents, who fear that the power plant will harm ground water and air quality.
"I don't think it'll ever be built," said Kent Johnston of Coburg, a project opponent. "If the people of Coburg and Eugene have anything to say about it, it won't be."
Added Joey Gayles, a committee chairman in the residents' opposition group, "We're going to fight (Marcus) tooth and nail."
The proposed 40-acre site north of Coburg meets all criteria for construction of a 300-megawatt plant on 12 acres of the site, Marcus said. The remainder of the site would be used for buffer area and wetlands mitigation.
An additional eight acres will be required for the 600-megawatt plant that Coburg Power wants to build, he said. The larger plant would require additional permits that might delay the project.
Expanding the existing natural gas pipeline that runs under the site also would add to the plant's cost. The larger plant would generate the equivalent of all power currently consumed in Lane County.
Marcus estimated the cost of the larger plant at $300 million to $400 million. The smaller plant would cost about $180 million, he said.

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

UK Crt Blocks Challenge To Intl Arbitration In Enron Spat

10/12/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

BOMBAY (AP)--A Commercial Court in London has restrained an Indian state government from blocking international arbitration proceedings by the U.S. power giant Enron to recover claims of up to $5 billion, a company statement said Friday.
"The injunction facilitates a timely and impartial review by the international arbitration panel of the dispute between the Dabhol Power Company and the Maharashtra state government," said the statement issued in Bombay, India's financial capital.
Wednesday's court injunction in London is expected to block the state government's move to settle the dispute in India through the state-owned Maharashtra Electricity Regulatory Commission.
Enron said the original contract for the disputed Dabhol power project required international arbitration. The company accused the state government of using a delaying tactic by trying to halt the international arbitration in favor of a settlement procedure in India.
Enron has a 65% stake in the Dabhol Power Co. Its 2,184-megawatt power project is India's biggest foreign investment. In phase one of the project, Enron supplied electricity from naphtha for its sole customer, the Maharashtra State Electricity Board, which has said it can't afford the prices negotiated seven years ago.
The contract included a federal government guarantee to cover any nonpayment. Enron has said guarantee hasn't been met, despite two notices to the federal government.
The second part of the project, more than 90% complete, involves building a new plant to produce electricity from liquefied natural gas, and a container ship port to import it.
Houston-based Enron says it has halted construction for the second phase and it was costing hundreds of millions of dollars.
Enron wants to pull out of India and recover its entire investment and that of its partners, General Electric and Bechtel Corp.

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

London court blocks challenge to international arbitration in Enron dispute

10/12/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

BOMBAY, India (AP) - A Commercial Court in London has restrained an Indian state government from blocking international arbitration proceedings by the U.S. power giant Enron to recover claims of up to dlrs 5 billion, a company statement said Friday.
"The injunction facilitates a timely and impartial review by the international arbitration panel of the dispute between the Dabhol Power Company and the Maharashtra state government," said the statement issued in Bombay, India's financial capital.
Wednesday's court injunction in London is expected to block the state government's move to settle the dispute in India through the state-owned Maharashtra Electricity Regulatory Commission.
Enron said that the original contract for the disputed Dabhol power project required international arbitration. The company accused the state government of using a delaying tactic by trying to halt the international arbitration in favor of a settlement procedure in India.
Enron has a 65 percent stake in the Dabhol Power Co. Its 2,184-megawatt power project is India's biggest foreign investment. In phase one of the project, Enron supplied electricity from naphtha for its sole customer, the Maharashtra State Electricity Board, which has said it can't afford the prices negotiated seven years ago.
The contract included a federal government guarantee to cover any nonpayment. Enron has said that guarantee has not been met, despite two notices to the federal government.
The second part of the project, more than 90 percent complete, involves building a new plant to produce electricity from liquefied natural gas, and a container ship port to import it.
Houston-based Enron says that it has halted construction for the second phase and it was costing hundreds of millions of dollars.
Enron wants to pull out of India and recover its entire investment and that of its partners, General Electric and Bechtel Corp.
(stg/aks/lak)

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

INDIA PRESS:State Govt Restrained From Challenging Dabhol

10/12/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW DELHI -(Dow Jones)- The Commercial Court of London has restrained India's Maharashtra state government from filing a suit in India challenging the international arbitration proceedings initiated by Dabhol Power Co., reports the Hindu Business Line.
Dabhol Power is an Indian unit of U.S.-based energy company Enron Corp. (ENE).
The newspaper says Dabhol obtained the court order Thursday, and the state government has 23 days to respond.
Dabhol is locked in a long-standing payment dispute with its sole buyer, Maharashtra State Electricity Board.
Dabhol is a 2,184-megawatt power project located in the western Indian state of Maharashtra. Enron holds a controlling 65% stake in Dabhol. Costing $2.9 billion, the project is the single largest foreign investment in India to date. Newspaper Web site: www.thehindubusinessline.com

-By Himendra Kumar; Dow Jones Newswires; 91-11-461-9426; himendra.kumar@dowjones.com

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

India: Enron may seek $30 m to exit Greenfield

10/12/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

NEW DELHI, Oct. 11 ENRON is looking at a price of about $30 million for exiting from Greenfield Shipping Company, in which one of its affiliates, Atlantic Commercial Inc, is a 20 per cent equity partner.
While Enron's 20 per cent stake in the $220-million LNG venture for Dabhol Power Company comes to $11 million, the Houston-based company is understood to have put up a price of $30 million for exiting from Greenfield, bankers familiar with the developments told Business Line.
The $30 million price pegged by Enron for its 20 per cent stake comprises $11 million for equity and $19 million for swapping the company's share of the loan liabilities, the sources said.
Though Atlantic Commercial Inc is yet to make an official statement on pulling out of the LNG shipping deal, it is understood to have conveyed to the project lenders led by ANZ Investment Bank that such a decision was imminent in view of Enron's plan to exit from Dabhol Power Company.
The State-run Shipping Corporation of India (SCI) is a 20 per cent partner in Greenfield, while the remaining 60 per cent equity in the joint venture consortium is held by Japan's Mitsui O.S.K.Lines.
In view of the controversy surrounding the power plant, the lenders to the LNG shipping deal have declared an event of default and suspended the last tranche of the project loan worth $55 million. The ANZ Investment Bank-led consortium has already pumped in $110 million out of a total loan commitment of $165 million for the 137,000 cubic metre capacity tanker being build at Mitsubishi's yard in Japan.
The three promoters will now have to put in additional investments to the tune of $55 million to take possession of the vessel on the scheduled delivery date of November 15.
The board of SCI has not been able to come to a conclusion on putting in extra funds in the project despite discussing the issue several times. A board meet held on Tuesday to discuss the issue again ended in stalemate, Government sources said.
SCI's dilemma on making extra investments in the project also centre around the fate of Enron's equity in the deal. In the event of Enron pulling out of the LNG shipping project, its 20 per cent equity would have to be taken over by the two remaining partners. Besides, these two partners would also have to pool-in the additional investments of $55 million amongst themselves in proportion to their revised equity holdings.
"However, there is a great question mark over whether Mitsui and SCI should agree to take over the equity of Enron", the sources said.
During discussions held in London recently, Mitsui had clearly told the lenders that it was not in favour of putting in extra funds to salvage the LNG shipping deal.
Moreover, with the consortium now looking at a charter hire rate of $60,000 to $65,000 per day as against the rate of $98,600 per day agreed with Dabhol Power Company, both SCI and Mitsui feels that the revised charter hire rates would render their investments unviable.
According to estimates, at a charter hire rate of $60,000 per day, Greenfield is expected to earn about $22 million per annum. Out of this, $4-$5 million will be spent on operating expenses of the tanker.
The remaining $17-18 million will fetch an internal rate of return (IRR) of 7-8 per cent for Mitsui at an equity stake of 60 per cent.
"Mitsui feels that an IRR of this level was not sufficient for their investments", the sources said.
Whereas, for SCI, the investments would fetch a return of 4-4.5 per cent. "This will be far below the Government norm of 12 per cent IRR for projects involving State-funding," the sources said.
P. Manoj

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

India: Dabhol gets restraint order from UK court

10/12/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

MUMBAI, Oct. 11 THE Commercial Court of London has given an ex parte order restraining the Maharashtra Government from filing a suit in India challenging the international arbitration proceedings initiated by Dabhol Power Company (DPC).
The Enron-promoted DPC obtained the order today and the State has 23 days to respond. Maharashtra has been restrained from "commencing or prosecuting or continuing or taking any steps in or otherwise participating in proceedings in any court or tribunal in India in restraint of or otherwise relating to the three arbitrations", the order said. The three arbitrations relate to State guarantees to the project.
A DPC spokesman said now "the arbitration process in London would continue as originally contemplated and agreed by the State Government and DPC. This has no bearing on the on-going proceedings involving DPC, MSEB and MERC before the Mumbai High Court and Supreme Court".
He also said Maharashtra is not a party to any of the on-going proceedings before the Mumbai High Court and the Supreme Court. "Over the past few months, the State Government and other Government entities have taken actions to avoid complying with their contractual obligations.
This has frustrated the rights of international investors that were legally agreed to by the relevant parties several years ago. The injunction facilitates the timely and impartial review by the international arbitration panel of the dispute between DPC and the State," the company said.
The arbitration panel had been constituted sometime ago and proceedings were expected to begin any time.
However, the proceedings could not take off as a dispute over the jurisdiction of the Maharashtra State Electricity Regulatory Commission had dragged on to the Mumbai High Court and then the Supreme Court.
Both courts had restrained DPC from continuing international arbitration pending resolution of the MERC jurisdiction issue. The State Government was expected to file a civil suit in the Mumbai High Court accusing the company of fraud and misrepresentation. Internal differences in the Government and the legal team over proving "fraud" had led to the resignation of the State counsel.
Our Bureau

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

USA: Sempra's fiber/natgas technology could begin in Dec.

10/11/2001
Reuters English News Service
(C) Reuters Limited 2001.

SAN FRANCISCO, Oct 11 (Reuters) - A Sempra Energy unit said on Thursday its new system for running fiber-optic cable through natural gas pipelines, in turn leaving city streets intact, could begin commercial service in December.
Putting fiber-optic lines in existing natural gas pipelines - which already have cleared rights-of-way - could tackle the telecommunications industry's "last mile" problem of connecting end users to outlying fiber-optic cable networks without tearing up roadways.
A surge in demand for high-speed Internet access has led telecommunications companies to pour billions of dollars into vast nationwide fiber-optic systems that carry data to computers, phones and screens faster than traditional copper wires.
Sempra Fiber Links, a unit of San Diego-based Sempra Energy, made the announcement after its first installation of the technology in the gas distribution system of Frontier Energy, a Sempra Energy unit in North Carolina.
Sempra's technology involves encasing fiber-optic cable in a protective polyethylene conduit before inserting it through the same local gas lines serving utility customers.
The company said installing the cable would not prevent a utility from servicing its gas lines or keeping them safe.
Jennifer Andrews, a Sempra Fiber Links spokeswoman, said the company was discussing its fiber-in-gas system with gas utilities throughout the United States.
SAVINGS
Andrews said companies using the technology could save from 30 percent to 50 percent on last mile costs compared with traditional trenching and installation methods.
Sempra Energy unit Southern California Gas Co., one of the largest gas utilities in the U.S. with about 18 million customers, plans to use fiber-in-gas technology in its system as soon as it is approved by the California Public Utilities Commission.
Energy companies that have ventured into the fiber-optic business by building infrastructure and/or through bandwidth trade, include Williams Cos ., El Paso Corp. ., Enron Corp. , Dynegy Inc. , Duke Energy , Consolidated Edison Inc. and Montana Power Co. .
In March 2000, Montana Power announced plans to divest its energy business and invest the proceeds into its broadband and telecommunications unit Touch America.

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


Mr. Morgan has been asked to recommend to the Section's Nominating Committee
individuals who would be interested in serving on the Council .

The Council members serve a four-year term that will end 2005. The Council
has two regular meetings, one is the MidWinter Leadership Meeting and the
second is held in conjunction with the ABA's Annual Meeting. Members will be
asked to attend occasional conference calls as needed.

Please forward any recommendations or if you are interested in serving,
please forward those to Mr. Morgan, and he will send those on to the
Nominating Committee.

If you have any questions, please feel free to contact Mr. Morgan at
404/249-2050 or at charles.morgan@bellsouth.com or Emily Ward at
404/249-2717 or at emily.ward@bellsouth.com.

Emily N. Ward
Paralegal
BellSouth Corporation
404/249-2717
Fax 404/249-5901
emily.ward@bellsouth.com
Ipager: emilyward@bellsouthips.com


Lunch will be provided from CRUMLEYS COGWHEELS


Sorry about the delay I have been waiting for info from New York and Germany.
---------------------- Forwarded by Fiona McNaught/LON/ECT on 06/04/2001 17:52 ---------------------------

Mike Jordan
04/04/2001 16:36
To:	Fiona McNaught/LON/ECT@ECT
cc:	Patti Thompson/HOU/ECT@ECT

Subject:	actual numbers of staff

Fiona

Sally Beck would like some details on our Middle Office Headcount - can you complete the following table of details and send to Patti please

Power Gas and Credit Risk ( including Head of RM )	36
Power Gas and Credit Documentation ( including GCP )	37
Power Gas and Credit Settlements			19
Power Gas and Credit Trade Accounting			24
Nordic Power						8
Metals London						80 ( ish )
Metals NY						21
Metals Recycling Germany				154

cheers

Mike


More questions form Duke.  Please respond as quickly as possible.

Thanks,

Don
---------------------- Forwarded by Don Miller/HOU/ECT on 10/18/2000 01:29 PM
---------------------------

mhhurtado@duke-energy.com on 10/18/2000 12:43:23 PM
To: don.miller@enron.com
cc: jpsynnott@duke-energy.com, japearson@duke-energy.com
Subject: Additional data requests on Wheatland

Don,

Below are additional questions and data requests regarding technical,
operational, and environmental aspects of the Wheatland project.  Please
respond to us at your earliest convenience.

Mario Hurtado
Duke Energy North America

            Duke Energy North America Additional Data Requests
                            Wheatland Facility

1.   [Wheatland] Please provide any and all studies related to the adequacy
of the plant's water supply.

2.   [Wheatland] During construction and commissioning of the plant and
switchyard were there any spills of oil or similar events that could have
resulted in soil or groundwater contamination?  Please provide details of
any incidents. Have there been any incidents since the plant achieved
commercial operation?  Please provide details.

3.   [Wheatland] It is our understanding that the switchyard will be owned
by the project and maintained by Cinergy.  Please provide a copy of the
proposed contract with Cinergy.  What indemnification will Cinergy provide
the project related to environmental incidents in the switchyard?

4.   [Wheatland] It is our understanding that the quality of the plant's
water supply in operation differed from the level assumed during
development.  Please provide all reports and documentation related to water
quality, including original design assumptions, testing during
commissioning, and problems as a result of quality differences.

5.   [Wheatland] Please provide a listing of all Enron affiliates involved
in the development and operation (physical and commercial) of the facility.
Such listing should include a one-sentence description of the role of the
entity, whether the role is terminated or continuing, and whether a formal
contract existed between the project and the entity.  [N.B.: We would like
to have this informaiton for Lincoln and Gleason as well.]

6.   [Wheatland] Please provide a listing of all non-Enron organizations
involved in the development, design, and construction of the facility who
may have a continuing relationship with the project, including outstanding
warranties, service contracts, as well as other rights and obligations.
Indicate how the organization was engaged, role of the organization and
whether there is any currently outstanding issues with the organization.

7.   [Wheatland] Are there any formal contracts between West Fork Land
Development Company and Lake Acquisition Company? Please provide.

8.   [Wheatland] Are there any currently enforceable warranties running
from the project to the EPC contractor (We understand it to be Enron
Engineering & Construction.) or NEPCO as subcontractor?

9.   [Wheatland] Please provide all engineering studies that discuss the
structural stability or integrity of the shoreline of the "Lake".  During
the site visit it was observed that one shoreline on one side of the Lake
had been reinforced.

10.  [Wheatland] Provide any studies discussing the seismic activity in the
vicinity of the Wheatland facility.

11.   [Wheatland] Were transmission upgrades required of Wheatland by
either Cinergy or IPL? Were transmission service credits credited to
Wheatland for the upgrades? Will these credits be transferred to the
Wheatland buyer?

12.  [Wheatland] Have any outages of the plant's interconnection occurred
as a result of high wind, blowing dust or lightning since commercial
operation?  If yes, how many incidents and for how long was the
interconnection out of service?


Kevin,

I have spoken to Will and we are going to determine how many people are interested and whether they have a budget to support Enron's purchasing the product.  We will keep you updated.
Thanks,
Judy Schlesinger

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Thursday, October 04, 2001 12:34 PM
To:	Schlesinger, Judith; 'willthurmond@emerging-markets.com'
Subject:	I am interested in seeing Energy News Live on Esource

thanks
Kevin Hyatt
EB1334
x35559


Dan,

Per our conversation on Friday regarding HPL, please coordinate with Clement
to issue a new guaranty.  As you recall, Aquila Energy Marketing Corporation
has $50MM of exposure from HPL and they have requested additional security
above the amount in the current guaranty listing HPL (gty2846.doc).  Please
issue a new guaranty for HPL covering Aquila Energy Marketing Corporation for
physical natural gas in the amount of $50MM.  In addition, please put
language in this guaranty which would amend the existing guaranty
(gty2846.doc) that would remove HPL.

Thank you,

Russell


All -

Please find the attached presentation regarding Project Hurricane current
status,

Steve Jernigan


As I mentioned at the executive committee meeting, we have a number of people
who either have expressed interest in serving on the transition team or who I
would like to approach to serve on the transition team for Bush.  We believe
that a call from you to Cheney may be required.

David Haug.    David will be returning from his honeymoon on Dec 4 and has
expressed a strong interest in serving on the Bush team.
Woody Wodraska.  Woody would like to work on environmental and water issues
and has been in touch with Bush campaign folks in both California and
Florida.  He would appreciate a call on his behalf to Cheney.  Amanda is
aware of his interest and is amenable to his service.
James Steffes.  You know Jim.  He is one of the most creative and talented
people in my organization.  He is familiar with state and federal energy
regulation as well as the state and federal policy makers who have played an
active role in deregulation efforts.  He would be great to have on a vetting
team for commission nominees.  I have talked to Jim and he is interested.
Others.  We can make another 4 people available from the government affairs
organization with qualifications in energy, communications and market
regulation.  The question is more a matter of how many Enron people they
would like to have.  Among them:  Dan Allegretti (who will be chair of NEPOOL
next year) who campaigned for Bush in New Hampshire; and Sue Landwehr, a
republican who works for us in the upper midwest.

Linda Robertson has suggested that we try to put as many people on the
"vetting" team as possible.  Let me know how I need to proceed.


Mike and Jeff,

This note is to update you on information we have related to the GTL Methanol
project in Darwin, Australia.

Larry, John and I met with Chase/JP Morgan, specifically, the banker who led
the financing of the Titan Methanol Plant in Trinidad. We wanted to get an
independent opinion on the financeability of the current GTL structure and
insights into the current market for project bank debt for commodity deals.

The key opinion of Steve Nordaker, the Chase banker on the Titan deal, was
that project banks do not take commodity price risk unless they have a very
clear, supportable view of the long-term market price for that commodity. As
for methanol, with the high level of uncertainty about the demand and price
for methanol as tied to the future of MTBE, Steve said that Chase would need
a profit margin contractually guaranteed by the project documents before
lending to a project. Steve further suggested that if the gas supply contract
had a floating price tied to methanol prices with a floor price, that floor
should be around $0.50/ mmbtu to give the lenders comfort that the plant
would remain competitive over the years required to repay the debt. GTL has
agreed to a fixed price of $1.02/mmbtu with Phillips. Chase would not lend to
the Darwin Methanol project as structured with a fixed price for the gas
input and an index price for the methanol off take. Nordaker thought that it
would be very hard to find even one bank to take the unhedged risk on the
methanol margin. In fact, GTL will need at least ten banks to raise the full
$250 million of senior project debt.

Another key risk that Chase would not take is the strength of the Sponsor, in
this case GTL. GTL has a total market cap of approx. $30 million. It will
have to issue new shares equal in value to more than its current market cap
to fund its portion of the project equity. If the project experiences cost
overruns, the Lenders will expect someone with a high credit rating or
demonstrable financial strength to invest whatever amount is needed to finish
construction.

I think that GTL is taking a big risk of wasting several months before
finding out that its project is not financeable. In addition to the waste of
time, GTL will have signed a gas supply agreement that will have to be
renegotiated, and other key documents may need to be amended. EGM will not
get the methanol it wants on time and may be faced with the choice of 1)
taking on extra methanol price risk (by agreeing to buy more of the plant's
output at a fixed price or by providing sponsor support) or 2) dropping out
of the deal. If we have hedged some risk in anticipation of the project
succeeding, then we will face pressure to take on more risk to cover the
hedges.

I think that GTL's deal is fixable, and John wants the methanol. I,
therefore, recommend that we push GTL on several key structural elements so
that GTL achieves a feasible project and so that EGM receives its methanol on
time. Because EGM is only willing to buy 1/3 of the plant's production of
methanol at a fixed price, the most important point is to get Phillips to
agree to a floating gas price. Kevin Alexander of GTL says that they have
tried, but that Phillips would not accept it. If necessary, we should offer
to intervene with Phillips. We will, also, try to keep GTL realistic on the
time it takes to negotiate project documents (six to nine months) and to
issue public equity (no limit if the markets turn bad).

John, Larry and I are developing a plan to move GTL to a realistic structure.
We may need your help with Phillips. We will keep you apprised.

Jim


Kay

Here is the change order that Mike Sandridge signed this morning.

Rebecca


perfect.   thank you.

	Enron North America Corp.

	From:  Kimberly Brown                           07/11/2000 09:47 AM

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Re: ENA Meeting and Event Expenditure Approval Process

I spoke with Dorie Hitchcock and she said that since the estimated cost is
less than $5000, we do not need the form.  She said I can simply forward her
a copy of the expense report after the dinner.


As I promised this morning at the executive committee meeting, below are some
talking points for your use.

Overall message:  the market is working, regulation is not.

In California, peak demand rose by 10% over the last 4 years while new
capacity grew by only 2%.  But, as you would expect, the market responded by
proposing 8,000MW of new generation - - more than enough to offset the peak
demand growth.  The regulatory process, at both the state and local level,
has failed to site this new generation.  The problem is regulation, not
deregulation.

When San Diego customers began experiencing the effects of higher prices,
Enron responded with a fixed price which would have shielded San Diego
customers from price volatility and provided prices below their current
summer levels (Enron's price was about $55/MWH).  After publication of
Enron's offer, nine other companies made offers.  Again, the market responded
where regulation failed.  San Diego has not accepted any of these offers
because of regulatory/legislative restrictions on its ability to buy outside
of the PX (i.e. the spot market).

In markets where siting is easier, suppliers have moved to build additional
generation.  Enron built 3 plants in response to the 1998 price spikes.
Those plants were planned, sited and built in less that 12 months - - in time
for the summer of 1999.  Where regulatory hurdles are lower, the market
responds.

The solution to current pricing and reliability issues is more competition
not reregulation.  Policy makers should:

Open the transmission grid so that power can get from where it is to where it
is needed.

Expedite interconnection of new generation.

Expedite siting of new facilities.

Give customers a choice, so that they have better access to demand side
solutions.

Also attached is a more detailed discussion of California, prepared by Jeff
Dasovich of our San Francisco office.


The NYISO is reserving hours beginning 17:00 and 21:00-23:00 in the January
31, 2002 Real-Time Market.

In addition, the NYISO is reserving the following hours in the January 31,
2002 Hour-Ahead locational reserve market:  9:00, 14:00, 15:00, and
20:00-22:00.

Prices in the February 1, 2002 Day-Ahead Market are correct.

This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm

---
You are currently subscribed to nyiso_tie as: benjamin.rogers@enron.com
To unsubscribe send a blank email to leave-nyiso_tie-628650Q@lyris.nyiso.com


Hi Donna!

I'll let you know ASAP about 3/22.  I believe Vince will be in London on that
date.

More immediately, is there a conference call tomorrow (Thursday)?  If so, is
there a call in number established, or does Melinda set this up?  (She's out
this afternoon).

Thanks!

--Christie.

----- Forwarded by Christie Patrick/HOU/ECT on 03/14/2001 03:46 PM -----

	FAP <FAP@management.wharton.upenn.edu>
	03/13/2001 02:09 PM

		 To: "'christie.patrick@enron.com'" <christie.patrick@enron.com>
		 cc: FAP <FAP@management.wharton.upenn.edu>
		 Subject: e-commerce seminar 3/22

Christie:

Professor Ravi Aron, Wharton, has been a consultant to the student Tiger
Team for the Enron project.  At his suggestion and invitation, Tiger
students have been invited to attend an e-Commerce Executive Education
seminar that is directly related to the project on which they are working.
Professor Aron will be giving the session on pricing mechanisms and B2B
market auctions.  This will take place at the Steinberg Conference Center on
campus on Thursday, March 22 from 8:30a-12:30.  We would also like to extend
an invitation for a representative from Enron to attend.

Please let me know if you or someone who has worked with the student teams
will be able to attend the seminar.

We look forward to seeing you and Vince at the final presentation on April 3
from 4:30-7:30pm in Vance Hall B6.

Regards,
Donna


fyi
---------------------- Forwarded by Karen Denne/Corp/Enron on 10/16/2000
04:23 PM ---------------------------
From: Diane Bazelides@AZURIX on 10/16/2000 04:22 PM
To: Elizabeth Ivers, Mark Koenig/Corp/Enron@ENRON, chensle2, Karen
Denne/Corp/Enron@ENRON
cc:

Subject: Litigation Response

Here's the response we're using on the litigation.


I just spoke with Sean and he said he was indifferent on the subject - so you
guys can go ahead and confirm these deals. I'm looking into why Puget sales
seem to be coming up "no confirm." Thanks for checking, though.

Kate

From: Amy Smith/ENRON@enronXgate on 04/17/2001 10:02 AM CDT
To: Kate Symes/PDX/ECT@ECT
cc: Sharen Cason/HOU/ECT@ECT, Kimberly Hundl/Corp/Enron@Enron

Subject:

Hi Kate,

There were several deals that were marked not to be confirmed that appeared
to be normal west deals that we should confirm. We've already changed them to
yes, but please check with Sean Crandell to see if he marked them not to be
confirmed for a reason.

582669
582674
582675
582680
582682
582684
582687
582689
582691
582692
582693
582697
582701
582706
582708
582710
582711

Thanks so much!!
Amy


Tonight around 8:30 our time Houston will be implementing a DS3 tunnel
routing from Houston to London, Houston does not forsee any problems with
Portland production but if any issue arise they will be contacting Real Time.
If you have any questions you can call me at 503-969-7635. Thanks Chip Cox


if it is real estate development i would like to look into it.  let me know.
i want to see what type of work it is.


Hi Mr. Kaminski,

Thank you for taking your time to interview me for opportunities at Enron. I
enjoyed talking you and learning more about Enron and its dynamic business
environment. I appreciate your consideration for a challenging and rewarding
position in this industry. Please find the attached copy of my dissertation.
If you have any problem in compiling this file, please let me know.

I respected your insights and perspective on the issues addressed in my
Ph.D. dissertation; including the issues on creative model building, factors
affecting natural gas and elctricity demand and supply, and implementation
of these models to simulate the future and help traders in the decision
making of their day to day business.

I appreciated talking with you. Thank you for considering me. I am
enthusiastic about opportunities at Enron and look forward to hearing from
you.

Sincerely

Dipak Agarwalla

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

 - Dissertation-Dipak Agarwalla.doc


Big surprise!
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/16/2001 03:22
PM ---------------------------

"Brashear, Charlotte" <cbrashear@velaw.com> on 03/16/2001 03:18:56 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: RE: The Lion King

   I would love to.  He is going to flip over it!

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Friday, March 16, 2001 3:17 PM
To: Brashear, Charlotte
Cc: Mann Neil (E-mail)
Subject: Re: The Lion King

My guess would be the week of the 4th of July, then again sometime in
August.  I agree that he really should see it.  If you want to take him,
that's great, or we will be glad to take him.

Kay

"Brashear, Charlotte" <cbrashear@velaw.com> on 03/16/2001 03:12:14 PM

To:   "Mann Kay (E-mail)" <kmann@enron.com>
cc:   "Mann Neil (E-mail)" <nmann@erac.com>

Subject:  The Lion King

           I keep forgetting to discuss this with you.  The Lion King will
be
here for the entire month of July, and Michael MUST see it.  I don't care
whether you two take him or me, but it's an absolute.  This will be my
third
time to see it.  The tickets go on sale around June 1.  Do you know yet
when
you will be on vacation?
          ++++++CONFIDENTIALITY NOTICE+++++
The information in this email may be confidential and/or privileged.  This
email is intended to be reviewed by only the individual or organization
named above.  If you are not the intended recipient or an authorized
representative of the intended recipient, you are hereby notified that any
review, dissemination or copying of this email and its attachments, if any,
or the information contained herein is prohibited.  If you have received
this email in error, please immediately notify the sender by return email
and delete this email from your system.  Thank You

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


Marti Olman will call you directly for this conferance call.


Steve,

Thanks.

Vince

Steven Leppard
08/25/2000 07:56 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: European Market Summary - trading day 24 August

Vince - I'm having you added to the circulation list.
Steve
---------------------- Forwarded by Steven Leppard/LON/ECT on 08/25/2000
07:58 AM ---------------------------

Homan Amiry
08/25/2000 03:51 AM
To: UK RAGS
cc:

Subject: European Market Summary - trading day 24 August

Please find below the European Market Summary. Now, also available via the
RAC Intranet site.

Homan Amiry


Up to you and Anthony.  We have already done a meeting in 3AC - today at 11:15.  We had not been provided info that Anthony had anyone in 3AC.  We had a meeting this morning during which we reviewed floor meeting plans - I don't think that Anthony was able to attend.

Your options are to bring them over to ECN 14 at 1:30, or to have them attend a meeting at 1:00 in 2 Allen Center, 12 th floor in the Forum (a meeting room on that floor). I will be conducting that floor meeting at 1:00 for ENW employees in 2 Allen Center - it is Allan Sommers' ISC group.  --Sally
-----Original Message-----
From: Lapsley, Carol
Sent: Monday, November 12, 2001 11:45 AM
To: Beck, Sally
Cc: Valdez, Christina
Subject: Greg Piper Floor Meeting - Dayao's 3AC Employees Included?

Sally, hello, I am Carol Lapsley, Anthony Dayao's assistant.  I understand Mr. Piper is having a floor meeting at 1:30p today and Anthony's 11th floor employees are invited to attend.  What shall we tell his team (approximately 80 people) who reside in Three Allen Center?  Should they join the rest of us at 1:30p on the 14th floor, or will a separate session be planned for 3AC?

Many thanks.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/01/2000
01:11 PM ---------------------------

Christie Patrick
12/01/2000 12:55 PM
To: Roberts_John@gsb.stanford.edu, benjamin_beth@gsb.stanford.edu
cc: Vince J Kaminski/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Mark
Palmer/Corp/Enron@ENRON, Greg Whalley/HOU/ECT@ECT, Kristin
Gandy/NA/Enron@Enron, Paul LeBeau/NA/Enron@Enron, Jeff
Skilling/Corp/Enron@ENRON
Subject: Enron/GLOBE

Dear Drs. Roberts and Benjamin,

Vince Kaminski and I enjoyed and appreciated the opportunity to speak with
you this morning. Enron is very happy to agree to participate in Stanford's
GLOBE project (being conducted in partnership with McKinsey & Company).

Attached please find my business card with all of my contact information.

 I look forward to hearing from Dr. Benjamin in the near future to begin
Enron's involvement.

Thank you!

--Christie.


This date works for me so I will assume that Julie will be going.  I will
work on flight  arrangements for Julie and I unless you think you might be
going.  I need your help in determing what equipment needs we need.  Call me
at 35539 or respond to this memo.
---------------------- Forwarded by Jane M Tholt/HOU/ECT on 10/13/2000 07:54
AM ---------------------------

"Vera, Ed - TPEAV" <EVera@socalgas.com> on 10/12/2000 04:18:45 PM
To: "'jane.m.tholt@enron.com'" <jane.m.tholt@enron.com>
cc:
Subject: Meeting in L.A.

Jane:

It looks like the Oct 31st works for most people here that would have a stake
in this proposal.? I have set-up a meeting starting at 8:30 to 11:30 am.? Let
me know if that works for you or if we need to adjust.? Also let's discuss
any equipment needs you might need such as a data line for access to Internet
and any audio video equipment so I can have it arranged.?? Hotels in the area
are: The Biltmore, The Westin Bonaventure and The Intercontinental Hotel all
within one block of our building.? I believe at the Biltmore we have a
special rate if you mention that its for SoCalGas.

I'll be telecommuting tomorrow so you can reach me at my cell phone at (213)
248-4053.

Thanks very much

Ed


---------------------- Forwarded by Cathy Phillips/HOU/ECT on 11/15/2000
03:27 PM ---------------------------

Jason Rios@ENRON
11/15/2000 03:20 PM
To: Cathy Phillips/HOU/ECT@ECT
cc:
Subject: Global Mkts Presentation


That's still not that great is it?

-----Original Message-----
From: Peters, Carmen [mailto:carmen.peters@nissan-usa.com]
Sent: Thursday, November 15, 2001 2:11 PM
To: Staab, Theresa
Subject: RE: TODAY ONLY - SAVE UP TO $120 EXTRA ON AIRLINE TICKETS!

I tried but the  best they will offer is $369 and I don't know which
airport.  I had to put in 3 choices.

> -----Original Message-----
> From:	Staab, Theresa [SMTP:Theresa.Staab@enron.com]
> Sent:	Thursday, November 15, 2001 6:39 AM
> To:	Peters, Carmen
> Subject:	FW: TODAY ONLY - SAVE UP TO $120 EXTRA ON AIRLINE TICKETS!
>
> Mom,
> Maybe you could get a good rate for Christmas
> -----Original Message-----
> From: Priceline.com [mailto:travel@priceline.m0.net]
> Sent: Thursday, November 15, 2001 7:11 AM
> To: TSTAAB@enron.com
> Subject: TODAY ONLY - SAVE UP TO $120 EXTRA ON AIRLINE TICKETS!
>
>
>
>
> TODAY ONLY - Save up to $120 extra on Airline Tickets!
> <http://priceline1.m0.net/m/s.asp?HB4787148869X1148171X84073X>
> TODAY ONLY - Save up to $120 extra on Airline Tickets!
> <http://priceline1.m0.net/m/s.asp?HB4787148869X1148171X84073X>
> TODAY ONLY - Save up to $120 extra on Airline Tickets!
> <http://priceline1.m0.net/m/s.asp?HB4787148869X1148171X84073X>
> TODAY ONLY - Save up to $120 extra on Airline Tickets!
> <http://priceline1.m0.net/m/s.asp?HB4787148869X1148171X84073X>
>
>
> QUESTIONS?
> If you have questions about these promotions or a previous priceline
> request,
> please click here
> <http://priceline1.m0.net/m/s.asp?HB4787148869X1142988X84073X>.
>
> When you made your priceline request, you asked to receive future updates
> and news on our products and services. We hope you found this information
> useful. If you would like to unsubscribe from future updates, use the link
> below.
> <http://priceline1.m0.net/m/u/plt/p.asp?e=TSTAAB%40enron.com>
>
>
>
>
>
>  <http://www.m0.net/m/logopen02.asp?vid=644&catid=4787148869&ecid=227919>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant affiliate
> and may contain confidential and privileged material for the sole use of
> the intended recipient (s). Any review, use, distribution or disclosure by
> others is strictly prohibited. If you are not the intended recipient (or
> authorized to receive for the recipient), please contact the sender or
> reply to Enron Corp. at enron.messaging.administration@enron.com and
> delete all copies of the message. This e-mail (and any attachments hereto)
> are not intended to be an offer (or an acceptance) and do not create or
> evidence a binding and enforceable contract between Enron Corp. (or any of
> its affiliates) and the intended recipient or any other party, and may not
> be relied on by anyone as the basis of a contract by estoppel or
> otherwise. Thank you.
> **********************************************************************
>


I agree.


Sounds good to me...Coincidentally, a made service will be coming to clean my
car this evening

Susan

Ted Noble
07/18/2000 03:21 PM
To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: Re: No sleeping on the job...

Let's plan on heading over there around 8:00-8:30 so there is absolutely no
hurrying after work.  Steak night is a time of leisure so take all the time
you need to get home, change and relax before heading out.  I live at the
Park at River Oaks (West Alabama & Buffalo Speedway on Buffalo Speedway--from
your place just take a right on Buffalo Speedway and its the first place on
your left) and the only entrance has a guard and he will call up to my place
to let you in.  Park at any labelled guest spot (left side of the up ramps 4
floors) and my place is #3309 - closest building to the corner of Buffalo
Speedway and West Alabama.  Now I am really tired from all this typing.

Ted

By the way, a maid service is coming to clean my place tomorrow afternoon.
Quite a coincidence ... hmmm

Susan M Scott
07/18/2000 02:40 PM
To: Ted Noble/HOU/ECT@ECT
cc:
Subject: No sleeping on the job...

Hey Math-Wiz,

I completely understand your plight.  I too am suffering a two o'clock,
post-lunch slump (the coffee is simply not working at this point).  Anyway, I
think a change of clothes prior to Steak Night is probably a good idea.
Also, driving tomorrow is not a problem... just let me know the gate code,
apt. #, etc.  Along those same lines, what time did you want to head over
there?  (For better-safe-than-sorry reasons, due to my job, I think no
earlier than 7:30 p.m. is our best bet.)

Hope you're having a lovely day and don't work too hard (Ha!!).

Susan

Ted Noble
07/18/2000 02:05 PM
To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: Re: Every day needs a little dose of levity...

Hey Shorty,

I hope your day is going well.  We took our MD out for lunch because he is
relocating to NY and will spend about a week in Houston a month.  Well, to
make a short story long, we ate at Erma's (great food) but I am getting very
sleepy (life is difficult I know) from eating way too much.  I assume we are
going home to change into some casual/hot weather clothes before dinner
tomorrow and I may need you to pick me up.  I am still looking for some good
jokes that I can send to you that are funny but still moderately appropriate
(most are completely inappropriate - I have sick friends).  Check out
www.darwinawards.com for some funny but true stories.  I'll talk to you later.

Ted


I discussed with Ted and David, and they agree with Oliver's analysis below,
so Chris, let's go ahead and report on the $20MM loss against UK Gas in
today's notifications.  Then perhaps you can work with James to adjust DPR
reporting accordingly going forward.

Thank you,
Cassandra.

---------------------- Forwarded by Cassandra Schultz/NA/Enron on 12/06/2000
03:28 PM ---------------------------

Oliver Gaylard@ECT
12/06/2000 02:55 PM
To: Cassandra Schultz/NA/Enron@ENRON
cc: David Port/Market Risk/Corp/Enron@ENRON, James New/LON/ECT@ECT, Ted
Murphy/HOU/ECT@ECT

Subject: Re: Loss Notification - "Structured Derivatives"

Cassandra

As discussed with Ted, David and yourself the loss should not be looked at on
its own as it is due to movements in two markets.

The UK power price curve shifted and the UK gas volatility curve shifted. The
P+L break out is as follows:

UK Power delta P+L      $38MM
Spread options (Structured derivatives) gamma P+L  $(20)MM
Spread options (Structured derivatives) vega P+L  $(23)MM
UK Gas  vega P+L      $4MM

If prudency releases are stripped out I think if we allocate P+L to the
correct books we get the following total P+Ls exluding reserve releases:

UK Power       $18MM
UK Gas        $(20)MM (Excludes reserve release of $17MM)

Therefore we only have a loss violation in UK gas. This is not trying to
avoid the $42MM loss notification, I am only trying to represent the loss
that reflects the true risk in the books of Europe.

Please hold off on the issue of a notification until it is decided that only
a loss notification is issued for gas.

Rgds

Oliver

From:  Cassandra Schultz @ ENRON
               06/12/2000 19:55

To: Michael Kass/EU/Enron@Enron, Chris Abel/HOU/ECT@ECT, James New/LON/ECT@ECT
cc: Oliver Gaylard/LON/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON, Mike
Jordan/LON/ECT@ECT, Shona Wilson/NA/Enron@Enron

Subject: Loss Notification - "Structured Derivatives"

Per discussion with Ted Murphy, P/L related to the Eastern spread options
should be included in our Loss Notification monitoring in accordance with the
Risk Management Policy.  However, my understanding is that the positions and
VaR are captured in European Gas and UK Power, but the P/L is reported
separately in "Structured Derivatives".  This reporting is perhaps further
complicated by related prudencey being released in the line item European
Gas.

The 12/5 DPR reflects a ($43MM) loss in Structured Derivatives, and Oliver
indicated this represents the market moving against our Eastern spread option
position.  This is a Ken Lay level notification by any measurement standards,
regardless of whether you compare it to the $7,500 VAR limit for Gas, or the
$15,300 VaR limit for UK Power. Or even split it between them.

Chris, please include this loss in today's notification letters to Ken Lay
and Jeff Skilling for the 5th.  Per Oliver, the loss was due to power price
curve shift and gas volatility curve shift against the Eastern spread options.

Going forward, James, perhaps you could work with Oliver and the commercial
team to determine a reasonable methodology to support the allocation of P/L
and related DPR reporting  for these positions so we can continue to evaluate
in compliance with the policy.

Thank you,
Cassandra.


Sorry it took so long.

Robin


Just a quick note to say that I have now left the EPRM/Risk conference
division after two and a half very happy years. I am however still at Risk
Waters Group, where I am now working as a journalist on EPRM magazine.
Future conference enquiries should go to Paul Bristow (US - 212 925 6990) or
Frances Tully (Europe - +44 (0) 20 7484 9731).

Many thanks for your work my events and I hope we can work together again in
the future. If you have any ideas on the writing side then I would always
appreciate a call or email - my contact details all remain the same.

Best regards,

Joel.

Joel Hanley
EPRM Magazine

Direct: +44 (0) 20 7484 9885
www.riskwaters.com


TASK ASSIGNMENT

Status:		completed

Task Priority:		1
Task Due On:		8/9/2000
Task Start Date:	8/9/2000


---------------------- Forwarded by Kay Mann/Corp/Enron on 01/23/2001 02:18
PM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           09/19/2000 03:44 PM

To: Herman Manis/Corp/Enron@ENRON
cc:

Subject: ledford-titan option to purchase , livingston county.DOC

Speaking of options....
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/19/2000 03:44
PM ---------------------------

"Way, Karen S. - CHI" <karen.way@piperrudnick.com> on 09/15/2000 02:04:35 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>, "'fred.mitro@enron.com'"
<fred.mitro@enron.com>, "'rusty.stevens@enron.com'" <rusty.stevens@enron.com>
cc: "Shindler, Donald A. - CHI" <Donald.Shindler@piperrudnick.com>

Subject: ledford-titan option to purchase , livingston county.DOC

 <<ledford-titan option to purchase , livingston county.DOC>>

Attached hereto, please find the draft Ledford-Titan Option to Purchase Real
Estate and Grant of Easement for your review.  Per my emails with Rusty, we
intend to messenger the execution copies to the Ledford's attorney on Monday
at mid-day.  Therefore, please send me your comments at your earliest
convenience.  Thank you.

____________________________________________________________________________
The e-mail address and domain name of the sender changed on November 1,
1999.  Please update your records.

The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
privileged.  If the reader of this message is not the intended recipient, you
are hereby notified that any dissemination, distribution, or copying of this
communication, or any of its contents, is strictly prohibited. If you have
received this communication in error, please re-send this communication to
the sender and delete the original message and any copy of it from your
computer system.
Thank you.

For more information about Piper Marbury Rudnick & Wolfe, please visit us at
http://www.piperrudnick.com/
____________________________________________________________________________

 - ledford-titan option to purchase , livingston county.DOC


Click here: AOL Local Guide: Houston - What's Going On - Kingwood Cove Golf Course - Map
Here is a link to Mapquest showing Kingwood Cove.
It sounds pretty easy.  59N (north of 1960) to Hamblen Rd.  Turn East til you get to 805 Hamblen Rd.
Tee times are at 8:06 and 8:12
Kevin if you wish I can give you a wake up call.


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---------------------- Forwarded by Phillip M Love/HOU/ECT on 03/22/2001
02:44 PM ---------------------------

Crystal Hyde
01/29/2001 11:57 AM
To: Phillip M Love/HOU/ECT@ECT
cc:
Subject: Nymex Game

Hey,

Here is the game..finally. You'll have to mess around with it and figure out
how it works, but here it is.


Hello everyone:

Since we have so many new employees, Vince thought it would
be a good idea for the Research Group to have an offsite social
so that we might get to know each other better and to celebrate
a great first half!

WHEN:  Tuesday, July 11th
WHERE:  Ninfa's across the street.
TIME:  5:30 PM - 7:30 PM
WHAT:  Snacks, Drinks and Fellowship

More to follow - Mark your calendars!

Shirley


---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/06/2000 06:05
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     12/05/2000 09:48 AM

To: undisclosed-recipients:;
cc:
Subject: DJ Calif ISO: 11,000 MW To Be Off Line For Much Of December - 2,7 00
MW Off Grid Tue On Expired NOx Credits

17:17 GMT 5 December 2000 *DJ Calif ISO: 11,000 MW To Be Off Line For Much
Of December
(MORE) DOW JONES NEWS 12-05-00
12:17 PM
2,700 MW Off Grid Tue On Expired NOx Credits
LOS ANGELES (Dow Jones)--A spokeswoman for the California Independent System
Operator said Tuesday about 11,000 megawatts of power would be off the
state's power grid for much of December.
The ISO, which declared a stage one power emergency early Tuesday morning
after a stage two emergency Monday, is responsible for maintaining grid
reliability in the state.
About 2,700 MW were off line Tuesday due to expired nitrogen oxide emission
credits, spokeswoman Stephanie McCorkle said.
"There is a tight market for air emission credits, just like there is a
tight market for natural gas right now," McCorkle said.
Of the 11,000 MW currently off line, 7,000 MW were off line for unplanned
maintenance. That figure includes those taken down for expired air emission
credits.
(MORE) Dow Jones Newswires 12-05-00
1239EST

G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material.  Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received
this in error, please contact the sender and delete the material from any
computer.


Put this in my binder and tell him to start sending it to you.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 07/18/2000
09:07 AM ---------------------------

Gary Stadler@ECT
07/17/2000 06:49 PM
To: Sally Beck/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT,
Ted Murphy/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, John
Sherriff/LON/ECT@ECT
cc: Shona Wilson/NA/Enron@Enron, Michael E Moscoso/HOU/ECT@ECT, Kate
Agnew/AA/Corp/Enron@ENRON, Vladimir Gorny/HOU/ECT@ECT, Bjorn
Hagelmann/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT, Rebecca Phillips/HOU/ECT@ECT,
Frank Hayden/Corp/Enron@Enron

Subject: June Curve Validation Memorandum

Attached is June's Curve Validation memorandum.  Please do not hesitate to
call if you have any questions.

Gary
X35502


Sandy:
I have not yet contacted our tax group about this.  I think that the easiest
thing to do is for you to give me Sheri's phone number and I will ask someone
from our tax group to contact her.  It probably will be Rhett Jackson.
Carol

	"Morrison, S.L. (Sandy)" <SL.Morrison@mbltd.com>
	05/24/2000 09:14 AM

		 To: "'Carol St Clair'" <Carol.St.Clair@enron.com>
		 cc: "McKinnon, M.K. (Malcolm)" <MK.McKinnon@mbltd.com>
		 Subject: RE: ISDA Comments

Carol,

Further to our conversatiaon yesterday, I would like to get Sheri Dunn, from
the Weyerhaesuer tax group and a tax representative from Enron on the phone
sometime (hopefully today).  Sheri is available at 10:30 Pacific time (=1:30
est,  12:30 Central)  today.  Do you think we can work with that?

Thanks,

Sandy Morrison
Weyerhaeuser Company Limited

-----Original Message-----
From: Carol St Clair [mailto:Carol.St.Clair@enron.com]
Sent: Monday, May 22, 2000 6:48 PM
To: SL.Morrison@mbltd.com
Subject: ISDA Comments

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
----- Forwarded by Carol St Clair/HOU/ECT on 05/22/2000 05:47 PM -----
|--------+----------------------->
|        |          Carol St     |
|        |          Clair        |
|        |                       |
|        |          05/22/2000   |
|        |          05:42 PM     |
|        |                       |
|--------+----------------------->

>---------------------------------------------------------------------------
-|
  |
|
  |       To:     SL.Morrison@mbltd.
|
  |       cc:     Susan Bailey/HOU/ECT@ECT
|
  |       Subject:     ISDA Comments
|

>---------------------------------------------------------------------------
-|

Sandy:
Susan Bailey passed on to me your comments to the ISDA draft and I can
respond
to some but not all of such comments at this point:

1.   With respect to your Canadian securities rep, I am checking with our
counsel in Canada about whether we can use your language instaed of ours.

2.   With respect to the Options rep and the ESP rep in part %, Section (b),
I
believe that both parties need to make such reps.  The rep in Part 5
(b)(g)(ii)
is to cover the Trade Option exemption and it is different from the ESP rep
below it.

3.   With respect to the language in Part 5, Section (a), this is different
from
the setoff language.    What this is saying is that if a party has fulfilled
all
of its payment obligations and an Event of Default occurs with respect to it
(the "Defaulting Party"), the other party cannot withhold any payment that
it
owes to the Defaulting Party.  This is different from the exercise of setoff
rights.

4.   I would like to discuss with you or your legal representative the
removal
of the arbitration language as it is Enron's policy to have arbitration
apply.

5.   We would prefer to keep the Termination Currency specified in US
Dollars.

6.   Our tax group believes that we need the language in Part 3(a)(i), (ii).
Why do you want to delete it?

I look forward to hearing from you.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
E-Mail Carol.St.Clair@enron.com


i need to get some tickets too.  there are a lot of people heading there on
fri so we can all meet up some where.  we can figure it out towards the end
of the week.


Errol and Phillip,
Can we get together on Thursday or Friday to discuss the Utility Track for
the 2 new Analysts that will join your group this summer.  The objective of
this track is to have the 2 analysts serve in a Business Unit, but rotate
function/roles as needs change.  We need to identify responsibilities the
analysts could have at each desk. Please let me know what time works best for
you.
Regards,
Melissa Prihoda


Sean Hanney
Algeria
sean@witheveryidlehour.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Sean Hanney


Attached is a redraft of your letter.  RMT knows nothing about the execution
or termination of any collar between Elektro and WestLB (since RMT was not a
party to that transaction). Also, we have been unable to internally trace the
source of the $387,250.00 received by RMT.  We are trying to trace this
through Chase and expect an answer on Thursday (if we're lucky).  Otherwise,
call me about the letter.  Sara


SDG&E also said yesterday that it received "several" proposals from power
companies to provide fixed future prices for electricity, which involve
long-term contracts touted by power companies -- a "market solution" to the
rate roller coaster residents have experienced.

The utility declined to provide a precise number of proposal details but
said it would evaluate the offers over the next two weeks and make
recommendations to regulatory authorities. Peace said earlier that Enron is
expected to be a bidder, offering a fixed price about 50 percent above
rates of last May.


At the request of Dan Diamond, I am attaching our proposed form of
Non-Disclosure Agreement.   If the enclosed meets with your approval, please
execute the agreement and return it to me via fax no. (713) 646-3490.  I will
then have it executed by an officer of EnronOnline.  If you have any comments
or questions please do not hesitate to call me at (713) 853-3399, or Mark
Greenberg, Senior Counsel, at (713) 345-8897.  We look forward to hearing
from you.


Are you working on this bill for Wild Goose?