Please confirm absolutely that fax signatures will be sufficient.

I need the address of where to send the membership certificate.  There is not
enough time for the document to pass back through Houston if the Portland
team wants to sign the documents.

Kay

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/30/2001 11:21:59 AM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: RE: Delta Documents

Kay:

The original membership certificate needs to be in the lender's hands (i.e.,
Isabel Parker's office) on Wednesday in order to release escrow.  If you
have the original to me by Tuesday, I can forward it to Isabel by overnight
delivery for Wednesday.  It must be an original, in that the lender's lien
on the membership interest is not perfected without possession of the
original certificate.  With respect to the remaining documents, fax copies
of signature pages on the closing date should be sufficient.

Carolyn M. Campbell
King;& Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>
;

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, April 30, 2001 11:20 AM
To: Campbell, Carolyn
Subject: RE: Delta Documents

The problem is in getting the original in their hands (where?) by tomorrow.
Does it have to be an original?

Kay

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/30/2001 11:04:21 AM

To:   "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject:  RE: Delta Documents

Kay:

Can we at least get the membership certificates signed by Tuesday?  This
seems to be the only document required in advance of closing.  If we can't
get the 80% membership interest certificate in the lender's possession on
the closing date, then there is a lien perfection issue for them to deal
with, and I thought we could accommodate their request and avoid the
problem
altogether.  Please advise, as Greg and Isabel will be calling within an
hour or so to finalize the mechanics on this.  Thanks.

Carolyn M. Campbell
King;& Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, April 30, 2001 10:40 AM
To: Campbell, Carolyn
Subject: Re: Delta Documents

I've asked GE for the LOC by Wednesday, but I haven't gotten a response.

I'll have difficulty getting executed docs by Tuesday, since sigs are
coming from Portland.  I'll have to check to see what can be done.

Kay

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/30/2001 10:02:44 AM

To:   "'kay.mann@enron.com'" <kay.mann@enron.com>
cc:

Subject:  Delta Documents

Kay:

Can you get executed documents back to me on Tuesday?  Greg has requested
that we send the original membership certificate representing the 80%
interest to the collateral agent Tuesday night by overnight delivery to
hold
in escrow until closing, in order that the collateral agent is in
possession
of the certificate (for purposes of legal opinions) upon closing on
Wednesday.  Greg is planning to fax signature pages of all of their closing
documents later today.  (I will be out of the office at a meeting with
another client most of the afternoon today).

There is one last question with GE dealing with the letter of credit for
the
retention amount, as this affects our disbursement instruction letter.  I
advised Greg that GE's normal practice was to send the retention L/C after
receipt of payment.  He is considering this, but may want to talk to GE
about the ability to present the L/C at closing.  Do you have any thoughts
on this?

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not
the named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not
the named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.


Thanks for sending this.  But what is this UA4?  The cumulative imbalance in Unify is 3,292 and this report
is showing 3,997.  Difference is 705 (UA4)....

-----Original Message-----
From: Felling, Amy
Sent: Tuesday, October 23, 2001 11:41 AM
To: Barkowsky, Gloria G.
Subject: LC-002 sept revised

Sorry I didn't get this to you before.

Amy Felling


All,
	I attended the Market Issues Forum at the California ISO yesterday and wanted to inform you of an important upcoming change in Grid Management (GMC) rates.  Starting January 1st, 2002, the CAISO anticipates raising GMC charges significantly.  They cited the following reasons for this:  1.  An under collection of GMC for year 2001, this must be past on to the following year according to the tariff.  2.  The lack of credit for the CAISO, increasing interest charges, as well as creating an inability to issue bonds for capital projects.  They must raise 100% of any capital expenditures in the current fiscal year, rather then spreading out the cost over a number of years with a bond issuance.  3.  A decrease in overall market volumes.  GMC is allocated on a flat fee, per megawatt basis, so decreasing volumes results in decreasing collections.
	The CAISO points out their costs will remain flat from 2001 to 2002.  They anticipate volume levels next year similar to what current volumes are, thus reducing the amount of megawatts they can effectively spread out their GMC charges over.
	I have the following observations:  1.  Despite the decrease in volumes, and the decrease in overall market activity, the CAISO has no plans to reduce its current workforce of 500+ employees.  2.  When posed the question: Is CERS charged GMC for out of market energy?  Their answer was circumspect at best.   3.  The CAISO currently does not assess GMC charges to ancillary service volumes, they indicated however that they are strongly considering changing this policy to increase the denominator that they can spread out GMC.
	The CAISO would also like to point out that these increases are worse case scenarios, and may not be this high.  But as we are all aware, in the California energy market, the worst-case scenario ends up looking optimistic in comparison to what actually ends up happening.  Below is a detailing of the changes.

-Kit

Charge Code	Description	Current Rate	Proposed New Rate	Percentage Increase
521	Control Area Services Charge	$0.4060 	$0.5140 	27%
522	Inter-zonal Scheduling Charge	$0.2230 	$0.3080 	38%
523	Market Operations Charge	$0.9510 	$1.6080 	69%


Please, remove me from the list.

Doa5pfE9a@abbyy.ru on 12/08/2000 01:56:57 PM
To: undisclosed-recipients:;
cc:
Subject: Looking for a New Car or Truck?

Get The Lowest Price On Your New Car
Without Negotiating For Hours!

Would you like to get a straight-forward answer from
a sales professional that does not have to "check with his manager"?

* Prices based on dealer invoice.
* No aggravation.
* Save Time And Money.
* All brands, new, used, take your pick.
* Let Someone Else Do The Work.

Click Below:

http://eezeecredit.com/taco/apa3.html


If you are seeing this message, your email client does not support HTML.  Please copy and paste this url into your browser to set your email client type to the correct setting with our system so that you can see future content in the best possible format.

http://www.s2u2.com/email_type.asp?email_id=8000558&email_type=4


-----Original Message-----
From: Jon King [mailto:jking@wba-law.com]
Sent: Monday, November 26, 2001 4:19 PM
To: WPSGH Area List
Subject: G2G Businesss Network Program, Friday, November 30th, 2001

Enclosed is the G2G Breafast Meeting that will be held this  Friday, Nov
30th at 7:30 a.m.   Please come join us for a terrific business networking
opportunity.  I look forward to seeing you there!  All the best, Jon King,
713 981-9595

This is a reminder for the Houston Enterprise Academy Graduate Network
business breakfast, Friday November 30 th, 2001 at the Houstonian
Metropolitan Racquet Club. RSVP mortega@hdinc.com or 713.621.5190 will be
appreciated. The agenda for the meeting is as follows:

There were eighteen graduates in attendance last meeting in October and we
are looking for even more graduates to attend this week!

0700-0730         Coffee
Open
0730-0745         Walk through the Breakfast buffet       Open
Introductions-Acknowledgements-Requests                Tom Solomon
0745-0805         Update on Twin Cities Meeting            Bob Troy

0805-0825         Business Intro                                      Open

0825-0830         Wrap up-agenda                                  Tom
Solomon

Revised November/December Schedule                     Tom Solomon

0830                 Adjournment                                        Tom
Solomon

We need one more volunteer to present their businesses & bio for Friday?s
Breakfast meeting for November 30th meeting.  If you can be a presenter
please email Tom Solomon. tsolomon@tomsolomon.com First come first serve!

Please pass along to any fellow academy graduates that would be interesting
in attending!

For clarifications, this breakfast is FREE for all first time visitors. A
nominal charge of $10 is for repeat attendees to cover the cost of the
breakfast and the meeting room.

Metropolitan Racquet Club -- directions
The Club is located in the One Allen Center Garage at 340 West Dallas St. In
order for us to validate your parking ticket (up to 1.5 hours) you must
enter the Garage on West Dallas Street - - you'll notice the blue
Metropolitan Racquet Club awning at the entrance. Immediately after you
drive into the garage, turn right to get a ticket and follow the "reserved
for Racquet Club" signs to the parking spaces. Take the elevator to the 6th
floor Racquet Club and ask the attendant to direct you upstairs to the
public dining area. You will then see our reserved area behind
accordion-style folding doors towards the back of the dining area.

Bob Troy

USAFA '69

btroy@hdinc.com

713.320.5430 (M)
713.509.5313 (P)


Attached are the Government and Regulatory Affairs Significant Events for the
first two weeks of December.


Dr Yang,

The RETAIL EAST portfolio needs to use the same methodology  as the EAST portfolio and the RETAIL WEST portfolio needs to use the same methodology as the WEST portfolio.  I believe that how Stacey wants the vols calculated is as follows.  If a deal that uses volatility in its calculation is at a region in the EAST it should use the daily or monthly vols respectively.  If a deal is at a west Region, than it should use the blending methodologies used in the WEST portfolio.  This will allow deals between the EAST and WEST portfolio to use the correct vols if such a deal were entered.  The transmission deals may not explicitly state a time horizon for exercise, but the nature of the deal allows you to make your decision on use of the transmission on a daily basis therefore,  I believe transmission deals should always use the daily volatilities.

 -----Original Message-----
From: 	Yang, Zhiyun
Sent:	Monday, October 22, 2001 1:46 PM
To:	White, Stacey W.; Vinson, Donald Wayne; Evans, Casey; Chen, Hai; Postlethwaite, John; Mattox, Michael
Cc:	Lee, Norman
Subject:	option volatilities used in portcalc

Dear All:

  Here is a summary of how volatility curves are used in portcalc option evaluation:

Rule:

1.  IF it is monthly option OR if the expiration date is explicitly specified in the deal entry,
     Then use monthly volatility

2.  IF it is one of the following portfolios: EAST, ENAWEATHER, SIMTRADE, ENACCO, PLANT, SVCE AND
         it is one of the following instrument type: Option, Spread Option, Basis Option, Index Option
    Then
         use daily volatility for daily option, use monthly curve for monthly option

   Otherwise
      If it is current month,  use daily volatility
      Otherwise use blend volatility of monthly and daily(intra-month) curves.

3. For Asian strips, basket volatility is used based on monthly weekday and weekend volatility curves.

I'd like to point out that as a result of the above rules,

1. for transmission deals, which does not explicitly specify expiration frequency or expiration date, for both East and West portfolios, daily volatility curve is used for current month, blend volatility is used for forward months.

2. Retail East and Retail West behave the same as West portfolio.

Please let us know if you need further clarification on how volatility curves are used in portcalc and advice us if any changes should be made.

Thank you very much,

- Zhiyun


Information Management Weekly Milestones Report ) 02/02/01

Portal.
? The list of HR employees to receive the IM Portal Survey is pending
approval.  HR is delayed because of compensation responsibilities.  Temporary
delay will not impact pilot deliverables.

? The technical team is creating portal templates for the respective Business
Units/Functional Units.  Each template will reflect BU/FU content, a similar
&look and feel8, a dynamic technical platform (a platform which can be easily
updated), and a secure platform (a platform which reflects the latest single
sign on effort).

? The production server for the portal is being built.

? myhome.enron.com is being targeted as the portal name.  Brandon Rigney has
been consulted to provide user experience input and ensure a smooth
transition of current users from the former myhome.enron.com site to the new
best practices IM Task Force myhome.enron.com portal.

? IM Task Force is investigating IT pilot project for single sign-on
application.  The Task Force intends to provide a single sign-on interface
for all applications accessible from portal

Unstructured Data Management/Enterprise Search Engine tool.
? A request has been made for vendors (Autonomy, Verity and Inktomi) to
provide the IM Software Selection Team with a proof of concept evaluation and
customer references.

? The SST is having a challenge getting software prices from all three
vendors.  GSS will be requested to support this effort at this early stage.

? Each of the vendors license their software in a different manner.  Inktomi,
s licenses are based on number of documents indexed, Autonomy,s licenses are
based on number of end users, and Verity,s can be a combination of server
instance and end users.  The inability to accurately predict numbers of
documents, users, and server instances makes a side-by-side comparison
difficult.

? The SST is continuing to work on the software evaluation report.  Customer
feedback and pricing will be incorporated as it becomes available.

IM Strategy Proposal.
? Momentum from the pilot phase of this project is needed for the delivery
stage ) the stage where we take what we have developed for a pilot and bring
it to Enron corporate-wide.  To do so, an IM executive coordinator needs to
be identified ASAP.

? Allan Sommer is meeting with Price Waterhouse and Ernst & Young and will
collect information on Knowledge/Information Management.

? Although this project has task force accountability and timelines, no one
executive has accountability for the budget.  True accountability lies within
the organization which has a defined, approved budget for the project.

? Information presented at last week,s Analyst meeting appears to support the
need for a formalized, executive sponsored IM program.

? The IM Task Force is meeting with EES next week to discuss the information
released at the analyst meeting.


I had forwarded your message to HR and had not heard anything.  However, I just went to yahoo and was reading an article that says the website is careerservices@enron.com but that it is not currently in operation.

Good luck,
Stacey

 -----Original Message-----
From: 	"Michael Mattox" <mjmattox@yahoo.com>@ENRON
Sent:	Monday, December 03, 2001 11:17 PM
To:	White, Stacey W.
Subject:	career services@enron.com

Stacey,

Wondering if you could provide a little help.  The career services
assistance packet we picked up on our way out listed an email address to
send our resumes.  The email was listed as follows:

career services@enron.com

It doesn't work.  For one thing email addresses do not have spaces between
words, it is usually a . or _ but not a blank space, the email program will
not accept a blank space.

I tried emailing to
       careerservices@enron.com
       career.services@enron.com
       career_services@enron.com

Every one of them got returned.  Is the email address not functional yet or
am I am missing something?  Could you forward this email to the appropriate
person?  In the mean time I will try the fax numbers provided.

Thanks

Also thank you for forwarding those voicemails.  Having been in Houston for
less than 6 months and reentering the working world after being a full-time
student for 2 years, my contact base in Houston is very limited.  At least I
will be able to call a few people in the morning.

Thank you

Michael J Mattox
1719 Hadley St.
Houston, TX  77003-5812
home (713) 571-8774
cell (713) 398-4190
fax (916) 314-9236
mjmattox@yahoo.com


Gerald.Nemec@enron.com

Yeah,  LSU almost lost though.  Should be interesting.  I think the SEC in
general is a little overrated after the Kentucky and LSU games

Bruce Rudy@ENRON COMMUNICATIONS
03/16/2000 05:15 PM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: email address

G$-

Hey bro, looks like we got LSU next.

Hey, what is your email address?  The one you give to somebody outside of
Enron.

Bruce


NPWLAX
URGENT - WEATHER MESSAGE
NATIONAL WEATHER SERVICE LOS ANGELES/OXNARD CA
1015 PM PDT MON JUN 11 2001

...STRONG WINDS OVERNIGHT FOR PARTS OF SANTA BARBARA COUNTY...

.A TIGHT GRADIENT BETWEEN HIGH PRESSURE TO THE NORTH OF SANTA
BARBARA AND LOW PRESSURE OVER THE CHANNEL ISLANDS HAS RESULTED IN
STRONG NORTHWEST TO NORTH WINDS BLOWING THROUGH AND BELOW PASSES
AND CANYONS OF THE SANTA BARBARA COUNTY MOUNTAINS AND SOUTH COASTAL
AREAS. MAJOR HIGHWAYS THAT WILL BE IMPACTED INCLUDE 101 AND
154...WHERE WINDS COULD GUST AS HIGH AS 55 MPH THROUGH THE NARROWER
CANYONS AND PASSES. WINDS WILL SUBSIDE LATE TONIGHT AS THE PRESSURE
GRADIENT RELAXES.

CAZ039-052-120815-
SANTA BARBARA COUNTY SOUTH COAST-
SANTA BARBARA COUNTY MOUNTAINS-

...WIND ADVISORY UNTIL 300 AM PDT TUESDAY...

FOR AREAS OF NORTH TO NORTHWEST WINDS 30 TO 40 MPH WITH LOCAL GUSTS
OVER 50 MPH.

ALL MOTORISTS SHOULD USE CAUTION WHILE TRAVELING IN THE ADVISORY
AREA...ESPECIALLY THOSE WITH HIGH PROFILE VEHICLES AND VEHICLES TOWING
TRAILERS. BE PREPARED FOR SUDDEN STRONG CROSS WINDS.

$$

SOME WIND REPORTS AS OF 10 PM...

GAVIOTA PASS...............NORTH WINDS GUSTING TO 55 MPH.
SAN MARCOS PASS............NORTHWEST WINDS GUSTING TO 31 MPH.

$$

MOYER

NNNN

[LAXNPWLAX/992323186]

EDIS-06-11-01 2219 PDT

---------------------------------------------------------
To update or terminate your subscription to this email service
visit our webpage at http://www.incident.com/edismail.html.

EDIS is operated by the Governor's Office of Emergency Services,
State of California. This email relay is offered by incident.com
as a public service. Because of the complexity of this system and
its dependence on other systems, we cannot be responsible for
delays or failures in transmission.
---------------------------------------------------------


Power plant siting bill to follow if you'd like it.
---------------------- Forwarded by Jeff Dasovich/SFO/EES on 09/01/2000 01:44
PM ---------------------------

Bruno Gaillard
09/01/2000 12:30 PM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/HOU/EES@EES, James D
Steffes/HOU/EES@EES, Harry Kingerski/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT,
Jeff Dasovich/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES, Susan J
Mara/SFO/EES@EES, Sandra McCubbin/SFO/EES@EES, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Siting bill - Correction

Do not pay attention to the sitting bill that was attached on the last
e-mail. The attached version was older that we though. AI will be faxing you
a copy of the final version of AB970 within a 1/2 hour.
---------------------- Forwarded by Bruno Gaillard/SFO/EES on 09/01/2000
10:26 AM ---------------------------

Bruno Gaillard
09/01/2000 10:22 AM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/HOU/EES@EES, James D
Steffes/HOU/EES@EES, Harry Kingerski/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT,
Jeff Dasovich/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES, Susan J
Mara/SFO/EES@EES, Sandra McCubbin/SFO/EES@EES, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Rate cap , Ratepayer relief and siting bills

Summary of Davis/Alpert bill AB 260

Retro-active to June 1, 2000 through December 31, 2002, 6.5 cent/kWh cap on
the energy component for residential and small commercial customers (under
100 kW).  The Commission has the ability to extend through 2003.  The
Commission also has the ability to adjust the cap.

Commission can use revenues from utility-owned assets, refunds from FERC to
offset the undercollections.  (In addition, a companion bill was passed that
provides $150 million of general fund money to offset undercollections.)

Large commercial/industrial/agricultural customers have an opportunity to
"opt-in" to the 6.5 cent/kWh cap with an annual true-up.

SDG&E will under a prudence review by the CPUC, which may be another source
of funds to offset the undercollection.

Specific classes subject to cap:

  Schedule A, all acute care hospitals, all public and private k-12 schools,
all accounts on AL-TOU under 100 kW.

Attached a link to the bill
http://www.leginfo.ca.gov/pub/bill/asm/ab_0251-0300/ab_265_bill_20000830_enrol
led.pdf

Summary of the rate payer relief bill AB 1156 which would
Transfer of $150,000,000 from the general fund  to a subaccount within the
Special Fund for Economic Uncertainties.
Appropriate those funds from the subaccount, to the commission, to reduce the
adverse impact of high-cost wholesale energy purchases on certain ratepayers
if a specified rate ceiling is in effect, and if the commission determines
that a specified revenue shortfall would result in a ratepayer surcharge
greater than 10%, and the electricity rates were directly linked to Power
Exchange costs.
Declare that, on January 1, 2004, any remaining balance in the account would
revert to the General Fund.
Become operative only if AB 265 is enacted, as specified.
 Take effect immediately as an urgency statute.
Attached a link to the bill
http://www.leginfo.ca.gov/pub/bill/asm/ab_1151-1200/ab_1156_bill_20000830_enro
lled.pdf


Hi gang.  I have not changed anything on the storage deals since the middle
of last week.  I am still showing our projected ending balance on June 30th
to be 3,626,785 dth.  Let me know if you see something different.

Thanks


I can't get access to my lotus notes but IT support is working on it.


Attached is a draft of an "Exclusivity Agreement" in connection with your
development of the capacity product trading website.   It is a little bit
longer than I anticipated, but I think it includes everything we need (the
bulk of the provisions deal with confidentiality obligations).  Please
contact me with any comments or questions regarding the attached.  Please
note that for those pipelines affiliated with Enron, we would simply add
EnronOnline as an additional exception to the definition of "Competing
System."

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3817
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490


US-Based Enron Corp Expands Pulp And Paper Ops In Asia
Dow Jones Commodities Service, 03/29/01

COMMITTEE TO SUBMIT REPORT ON POWER SECTOR TO INDIAN STATE GOVT
Asia Pulse, 03/29/01

Life goes on...
The Times of India, 03/29/01

$10-m aid gives much-needed fillip
The Times of India, 03/29/01

ENRON'S TOKYO UNIT SUBMITS PLAN FOR AOMORI POWER PLANT
Asia Pulse, 03/29/01

Qantas Hones A Killer Instinct
Australian Financial Review, 03/29/01

MSEB to pay Rs 113 cr Feb bill `under protest'
Business Standard, 03/29/01

Lay Gets $7 Million Bonus.
The Oil Daily, 03/9/01

Enron Doing Great, Skilling Says.
The Oil Daily, 03/29/01
Houstonians receive e-commerce awards
Houston Chronicle, 03/29/01

COMPANIES & FINANCE THE AMERICAS: US climate exchange ready to start trading
Financial Times; Mar 29, 2001

Power project may get a boost
The energy crisis may prompt a new state board to reverse its predecessor's
ruling on a Southwest Riverside County line.

US-Based Enron Corp Expands Pulp And Paper Ops In Asia

03/29/2001
Dow Jones Commodities Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

SINGAPORE -(Dow Jones)- Enron Corp. (ENE), one of the world's leading energy
and communications companies based in Texas, is expanding its pulp and paper
operations in Asia.
The power and energy giant is busy setting up offices in Asia that will
provide price risk management tools for the Asian pulp and paper industry, a
senior Enron official told Dow Jones Newswires Thursday, on the sidelines of
an industry gathering in Singapore.
"Asia accounts for 30% of the (world's pulp and paper) market. You can't
ignore it," he said.
In January this year, Enron opened shop in Singapore and Japan. Japan is one
of Asia's biggest paper producers and consumers.
He said that Enron is eyeing to set up shop in India, China and South Korea
as these countries have "big market potential."
China and South Korea are among the top three biggest paper consumers in
Asia.
India is regarded by most analysts as one of the fastest growing newsprint
consumers in the region. The official declined to comment further on specific
expansion plans and targets.
Meanwhile, he said that their customers in Singapore and Japan have logged on
the www.clickpaper.com - a business-to-business portal for pulp, paper and
wood products - that was built by Enron.
Www.clickpaper.com is an Internet-based market for buying and selling pulp,
paper and wood products.
In the last three years, the company was able to establish a foothold in the
American and European pulp and paper markets.
While the company is well known as a major supplier of natural gas and
electricity, it started to branch out to the pulp and paper business in 1997,
as it is one of the biggest consumers of natural gas and electricity in the
U.S.
Aside from providing price risk management tools, Enron's offices in the U.S.
are also involved in buying, selling and producing newsprint.

-By Prime Sarmiento, Dow Jones Newswires; 65-4214803,
prime.sarmiento@dowjones.com

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

COMMITTEE TO SUBMIT REPORT ON POWER SECTOR TO INDIAN STATE GOVT

03/29/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

MUMBAI, March 29 Asia Pulse - The Godbole Committee, set up to review Enron
promoted Dabhol Power Company's (DPC) 2,184 MW power project and the entire
power scenario in the western state of Maharashtra, will submit part one of
its report on April 10 to the state government.
"The committee will finalise its report on April nine and submit it to the
government the next day," MSEB sources told PTI here today.
According to the committee's schedule, it would first submit the report on
DPC's project and then commence on part two, comprising study and remedies to
improve Maharashtra's entire power scenario.
The sources also did not rule out a possibility of the report being tabled in
the current session of the on-going state legistlature.
The six-member committee, set up by the Maharashtra government last month,
has almost finalised its report today and met financial institutions
including International Develpoment Finance Corporation Ltd.
In its over a month-long sittings, the committee discussed the state's review
proposal with several energy experts including Abhay Mehta, author of the
controversial book "Power Play", which depicted the alleged irregularities in
the Enron deal.
Another major presentation, made before the review panel was that by the
Enron India Chief, K Wade Cline, and the DPC Managing Director, Neil
McGregor.
(PTI) 29-03 1941

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

Life goes on...

03/29/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

SALAM MUMBAI/ Malavika SanghviAnd Pepsi fights with Coke and Coke fights with
Thums Up and Sprite fights with all of them and what difference does it make
in your life? As they say in Punjab, "Ki pharak painda?"
And BPL fights with Orange and Videocon fights with Godrej and Bbujbal with
Thackeray and Sonia with Vajpayee and how on earth does it affect you? Amar
Singh versus Mani Shankar Aiyer, Ram Jethmalani versus Soli Sorabjee and
Justice Anand, Rohit Bal versus Abu and Sandeep and what did it matter, what
was changed or as the kids say these days, what goes of your dad?
O & M fights with Lintas, Brajesh Mishra fights with J K Jain, and MTV fights
with Channel V. In the end, does it make a whit of difference to your life?
Star versus Zee and Sony versus Nine Gold and who cares in the long run? Who
gives a damn?
And Jaya Jaitley versus Aniruddha Bahal and Mamta versus Jyoti Basu, and the
CBI versus Vincent George and what difference? India versus Pakistan, Tamil
Nadu versus Karanataka, MG Damani versus Anand Rathi, Gavaskar versus Raj
Singh Dungarpur, Azharuddin versus Manoj Prabjhakar versus Kapil Dev, and
Sushma versus FTV and Sharad Yadav versus Laloo Yadav and Ramkrishna Hegde
versus Deve Gowda, and IBM versus Macintosh... and where does it all lead?
Hotmail against Yahoo and Ted versus Rupert and India versus Pakistan and so
many words of attrition and reams of newsprint and Mamta versus everyone and
who cares... What is it really but phookat entertainment, or as they say in
the trains, timepass?
Enron versus MSEB, Time versus Newsweek, Hrithik versus Shah Rukh, Scindia
versus Angre -- and your life goes on, not enhanced by any of this. Oh no,
possibly even worsened, but only a little.
Yashwant against NK Singh, MF Husain against Sabavala, Thapar against
everyone shouting in the well of the House and in the end what does the man
on the street gain from any of this? Dominos versus Smokin' Joe's, Delhi
versus Mumbai, Dom Perignon versus Veuve, Dior versus Gucci, Oberoi versus
Taj, Jayalalitha versus Karunanidhi, the BJP versus the Congress, Philips
versus Aiwa where does it all lead?
Calcutta traders against Mumbai punters, Mallya against Chabbria, Vilasrao
against Govindrao, Jayaprada against Renuka has it made any difference any
difference at all to the man on the street?
Gladiator versus Crouching Tiger, the police versus Bharat Shah, Salman
versus Subhash Ghai -- did it really matter? Olive versus Indigo, Wranglers
versus Lee, Nike versus Reebok.
The rich get richer, the poor get poorer, the multinationals line their
pockets and the man on the street. His life doesn't change, it doesn't matter
one way or the other, it just goes on and on...

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

$10-m aid gives much-needed fillip

03/29/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

VADODARA: The Kalpasar project, Gujarat's dream project to turn Gulf of
Khambhat into a huge fresh water lake, received a major fillip with the
Netherlands-based Nadeco Company committing $10 million (about Rs 46 crore)
in aid.
The state government, in turn, has agreed in principle to accept the aid.
Chief Minister Keshubhai Patel is sending a four-member team comprising
Kalpasar Core Committee chairman and chief co-ordinator of the project C C
Patel, project conceiver Anil Kane, additional secretary U K Sarvaiya and
secretary Narmada and major irrigation projects M I Mehta to the Netherlands
in May.
Simultaneously the state government is also setting up a Kalpasar Development
Authority to administer the funds. Already Rs 18 crore have been poured into
the project since its conception in mid 1980's. The total project cost is
estimated at Rs 25,000 crore.
"This is a major boost to Kalpasar. The Netherlands is known for great dam
building and if a company of that country has shown interest in our project
it means big", Kane told 'The Times of India'.
He said Kalpasar envisages bridging the Gulf of Khambhat with a 24-km-long
dam that will connect Bharuch and Bhavnagar. Besides providing drinking and
irrigation water to the entire Saurashtra and Kutch, Kalpasar will generate
6000 mega watts of power, Kane said.
"Saline water will be replaced by fresh water. About 400,000 hectares of land
that is of no use today will be reclaimed. This fresh water lake than will
have fantastic harbours and flourishing fisheries," Kane said.
Till date five exhaustive volumes on feasibility of Kalpasar project and six
survey studies have been put out by the Kalpasar core committee.
Kane said that Reliance Industries, Larsen and Tubro, Tata Hydel and Tata
Housing Development have appreciated the 6000 mw power generation aspect of
the project. "They have shown keen interest. Some of these companies are even
enthusiastic to manufacture and supply us turbines against the kind of power
generation we estimate through Kalpasar," Kane said.
Nadeco, on the other hand, is interested in the building part of the dam.
"They specialise in building big dams. Holland has one of the world's best
dams in Islemeher through which they have reclaimed land submerged under the
sea and converted it into a world floriculture centre. In Kalpasar also they
see good business opportunity and hence are offering the aid", Kane observed.
Nadeco has suggested to the state government that its aid should be used in
institutional strengthening of the Kalpasar cell. This deals with procuring
equipment, technology exchange or transfer and manpower. Nadeco has also
suggested for a GIS, data base on environment baseline, project regime
modelling and association with Central Water and Power Resources Centre
(CWPRC) in Pune has also been demanded. The CWPRC's intervention is sought to
study the impact of Kalpasar on sedimentation, salinity, currents and other
technical aspects. National Institute of Oceanography's involvement has also
been sought.
When asked about the astronomical cost of the project Kane said that the
major expenditure was on power generation. "However the power we would
generate here will be less than Rs 2 a kW for an hour. And unlike Enron, in
Kalpasar there is no need for foreign exchange", Kane remarked. He added that
the other benefits of Kalpasar was that there was no displacement of people
or inviting natural disasters by disturbing earth's crust.
"Even if Narmada dam is built to the height of 138 metres, 90 percent of
Saurashtra and 95 per cent of Kutch would not get water. Kalpasar is a
feasible alternative and in five years can change the face of Saurashtra and
Kutch," Kane said.

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

ENRON'S TOKYO UNIT SUBMITS PLAN FOR AOMORI POWER PLANT

03/29/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

TOKYO, March 29 Asia Pulse - Japanese Enron subsidiary E Power Corp said it
has submitted preliminary plans for the construction of a new power plant to
Aomori prefecture governor Morio Kimura.
The electricity retailer plans to construct a 2 million kilowatt liquefied
natural gas (LNG) plant in Rokkasho, Aomori Prefecture by 2007, and sell the
energy to locations in the northeastern region of Japan and the Kanto region
around Tokyo.
The company now plans to begin negotiations to acquire land for the plant.
Its efforts mark the full-scale start of the Enron group's power generation
operations in Japan.
E Power is researching other locations for the construction of power plants,
including Ube in Yamaguchi Prefecture.
(Nikkei) 29-03 1314

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

Chanticleer
Qantas Hones A Killer Instinct
John Durie

03/29/2001
Australian Financial Review
36
Copyright of John Fairfax Group Pty Ltd

This time next year, new Qantas boss Geoff Dixon will be running either a $4
billion or $2.5 billion company, depending almost entirely on factors outside
his control.
The higher figure, implying a stock price close to $3 a share, is still a
long way down, of course, from its $5 billion in market capitalisation in
August last year before the stock was hit with the combined ills of a
plunging currency, slowing economy and, worst of worst fears for an airline
boss competition.
Qantas's stock price is showing the strain considering that this year its
shareholders have seen returns fall 28.2 per cent after a 9.8 per cent gain
last calendar year and a 1999 year return of 22 per cent a share.
All this has happened when more people are flying domestically than ever
before. In January, 2.6 million people took to the air on 26,000 flights.
Passenger traffic was up 17.5 per cent on year-ago figures and more planes
were full, with loads up to 80.8 per cent capacity, the highest level
recorded in some seven years of monthly data, on Merrill Lynch's reckoning.
The top routes did even better, with Melbourne-Sydney up 27.6 per cent and
Brisbane-Sydney up 64.3 per cent.
Australia now has four domestic carriers, and Qantas's Dixon is about to make
the problems flowing from increased capacity even worse when he brings in
planes from routes being closed (to China and Canada).
His aim is simple: to kill one or more of his competitors because he thinks
the market cannot sustain four domestic carriers.
The fact that new capacity is being added now when the money that airlines
earn from each seat is falling simply raises the stakes, and Dixon has drawn
a line in the sand.
With the other major, Ansett, in the middle of its own problems, Dixon is
working from a position of strength, which is why he has finally declared
war.
All these new passengers may look like good business, but if enough are not
paying full fare, then airline profits fall, particularly if like the present
market the airlines are hurting, with higher fuel costs and a slowing market.
But Dixon's war will be a rough ride for his shareholders, as shown by the
fact that yesterday the company issued its second profit warning in the space
of a month.
This sent Qantas's share price to a 21/2-year low and should send a shudder
through the rest of the domestic market for what it says about general
economic conditions.
The only bright spot is that Dixon's warnings are the result of special
airline industry issues such as massive increases in capacity, which are
killing yields.
In the space of seven months, Qantas has gone from a company worth $5.5
billion to one worth $3.2 billion, a 42 per cent fall, and if Dixon is not
successful in getting a competitor to close shop, then the stock price will
head below $2 a share.
Deutsche has already cut profit forecasts for this year by 20 per cent and
will slice another 30 per cent after yesterday's warning, bringing this
year's estimate closer to $302 million than the $392 million the market was
looking for a couple of weeks ago.
If Dixon's war campaign is successful, the economy shows more signs of life
and the old Qantas management team reproduces past cost-control efforts, then
the stock will be well above $3.
Between now and then, each time someone takes a $37 flight between Sydney and
Melbourne, consumer joy means more pain for Dixon and his shareholders.
Today the BHP Billiton transition team headed by Brad Mills and Mike Salamon
starts work in Melbourne on the transition arrangements for the new company,
with the first job being to work out key staff issues and how to lock in
personnel.
The company is already well down the track on some operational issues: its
Venezuelan HBI plant, for example, is expected to be shut; and for tax
reasons, next year's $3.5 billion steel spin-off will mirror the OneSteel
sale, with the trade sale option only tested if someone comes in the door
with a cheque for billions more than book value.
Two senior executives who won't be around by the end of next year will be Ron
McNeilly, the BHP minerals boss, and steel man Kirby Adams, who has already
said he would lead the soon-to-be spun-off company.
McNeilly's position as an executive director (global markets) is seen more as
a transitional role, one of ensuring clients are comfortable with the new
team and aware of the new opportunities.
Paul Anderson, of course, will also be gone by the end of next year, by which
time he hopes all the hysteria over where head office really is will have
died down.
He didn't even bother testing Don Argus's view on the issue before telling
Billiton's Brian Gilbertson that Melbourne would have to be the base or, for
a whole lot of political issues now being aired, there would be no deal.
Likewise, much of Anderson's time has been spent telling the Billiton board
that the company will have enough senior executives to qualify still as a
base for tax and other purchases in the UK, which explains why petroleum boss
Phil Aiken will be doing time in London.
In truth, from an operational standpoint, it doesn't matter much where
Gilbertson spends his time, although he will probably make sure he spends
fewer than 130 working days a year in Australia lest he be branded an
Australian executive for tax purposes.
Anderson, it seems, didn't even think tax was an issue when he did everything
possible to be an Australian when he first landed, from declaring that he
followed the St Kilda footy team to asking the Tax Office for a tax file
number.
When the combined company gets going, some early new endeavours are clear,
starting with an energy-trading operation to exploit the fact that the
company will go long on energy products on three continents through oil, gas,
LNG and coal and short the product in its aluminium operations, also on three
continents.
Another move will be to cut out middle men in operations such as smelting
where US-based Enron is the combined company's biggest copper producer,
buying its high-concentrate output, and mixing it with other copper to get
the lower-concentrate product demanded by the market.
It would seem to make more sense if BHP Billiton did that job itself.
While BHP shareholders are handing about $6 billion across to their
soon-to-be partners at Billiton, in the premium paid for the asset, all will
be quickly forgotten if, helped by such moves and by the increased liquidity
from the London link, BHP's stock price climbs much higher.
jdurie@mail.fairfax.com.au

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

MSEB to pay Rs 113 cr Feb bill `under protest'
S Ravindran MUMBAI

03/29/2001
Business Standard
7
Copyright (c) Business Standard

The Maharashtra State Electricity Board (MSEB) has decided to pay the Rs 113
crore February bill to the Enron-promoted Dabhol Power Company (DPC) "under
protest". The bill had become due on March 25.
MSEB has protested primarily about how much power was despatched by DPC on
demand. "We have decided to pay the bill but we have disputed the despatch
figures given by DPC," said a highly placed MSEB official.
The decision comes even as the Union law ministry has lobbed the ball back in
the MSEB-DPC court over the disputed Rs 102-crore December 2000 bill.
The electricity board had to pay about Rs 102 crore to DPC as the unpaid
portion of its December bill. DPC first invoked the state government
guarantee and then the Central government's counter guarantee.
MSEB had retaliated by slapping a claim of Rs 400 crore on DPC for non supply
of power at various points between October 2000 and January 28, 2001.
The state government and MSEB had told the Centre to adjust the December bill
from the Rs 400 crore (claim) as this was allowed under the power purchase
agreement (PPA). Their contention was that payment disputes spread over a
four-month period on non-despatch of power can be adjusted in the December,
2000 bill.
DPC contended that the four month period expired on January 25, 2001, when
the December, 2000 bill fell due. MSEB on the other hand was claiming damages
primarily for non-despatch of power on January 28, 2001.
The finance ministry has now referred the matter to the law ministry. It is
now learnt that attorney-general Soli Sorabjee has contended that there is
merit in the argument of both sides. If the two parties cannot come to a
mutually acceptable solution, they can go in for arbitration as stipulated in
the PPA.

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

Lay Gets $7 Million Bonus.

03/29/2001
The Oil Daily
(c) 2001 Energy Intelligence Group. All rights reserved.

Electricity and natural gas marketing company Enron, coming off an "extremely
strong" 2000, rewarded Chairman Kenneth Lay with a 79% boost to his bonus,
Enron said Tuesday.
Lay's 2000 bonus shot up to $7 million from $3.9 million in 1999, the
Houston-based company said in its annual proxy statement filed with the
Securities and Exchange Commission.
Enron determined the figure by taking into account the pay level for the head
of a company of comparable revenue size as well as increases in total
recurring net income and earnings per share, according to the proxy.
Lay's base salary last year was $1.3 million, unchanged from 1999. He also
received $7.5 million in restricted stock awards as well as options for
782,830 shares that could be valued at $35 million if Enron's stock
appreciates 10% annually over the life of the options.
Most of the options expire Jan. 10, 2007, and can be exercised at
$47.31/share.
(c) Copyright 2001. The Oil Daily Co.
For more infomation, call 800-999-2718 (in U.S.) or
202-662-0700 (outside U.S.).

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

Enron Doing Great, Skilling Says.

03/29/2001
The Oil Daily
(c) 2001 Energy Intelligence Group. All rights reserved.

If the stock market is going to assign lower share-price-to-earnings ratios,
then Enron will simply boost its stock price to its former level the
old-fashioned way - by increasing earnings, President and Chief Executive
Jeffrey K. Skilling said Wednesday.
"The stock got hurt quite badly for no apparent reason," Skilling said about
the recent dive in Enron's common-share price. "The company is doing great.
In all our businesses, we're seeing some really, really good results," he
told investors at the annual Howard Weil energy conference in New Orleans.
Enron's stock price weakened in the fourth quarter last year along with many
other high-tech issues after reaching a 52-week high of $90.75 in August. As
recently as early February the price was about $80.
Then, Enron was hit with a spate of bad news starting in mid-March (OD
March22,p6). A bandwidth content arrangement with video distribution giant
Blockbuster was terminated at the same time the whole high-tech sector was
collapsing. At one point last week, its price fell to $51.51/share. The price
recovered to above $60 for a couple of days, but Wednesday it closed at
$58.10, down $2.36, or 3.9%, on the day.
The Enron chief executive cited other factors having a negative impact on the
stock - the overall market revaluation of high price-to-earnings multiples
and the likely termination of the pending sale of its Portland General
electric utility subsidiary to Sierra Pacific (OD March27,p8).
Skilling said Enron will work on improving profitability to achieve its
previous stock price highs in a market that pays multiples of 30-35 times
earnings, not the 55 times of 2000, he said.
(c) Copyright 2001. The Oil Daily Co.
For more infomation, call 800-999-2718 (in U.S.) or
202-662-0700 (outside U.S.).

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

March 29, 2001
Houston Chronicle
Briefs: Houston & state
Houstonians receive e-commerce awards
Several Houstonians were among the 10 Texans recognized by the Texas eComm
Association this week for their contributions to the state's Internet
economy.
EComm Ten Award winners at the event, held at the Aerial Theater on Saturday
night, included: Rod Canion, former CEO of Compaq Computer and chairman of
Questia Media; Doug Erwin, president and CEO of PentaSafe Security
Technologies; Eric Pulaski, chief technology officer and co-founder of
BindView Development Corp.; Jeff Skilling, president and CEO of Enron Corp.;
and Janet Wejman, senior vice president and chief information officer of
Continental Airlines.
The Texas eComm Association promotes e-commerce business throughout the
state. This is the second year for the Texas eComm Ten awards.

		COMPANIES & FINANCE THE AMERICAS: US climate exchange ready to start trading
Financial Times; Mar 29, 2001
By NIKKI TAIT

		The Chicago Climate Ex-change, a voluntary carbon-dioxide emissions trading
platform which is being developed on a pilot basis in the Midwest, could
start trading late this year or early in 2002.
		Richard Sandor, who is spearheading the project, is expected to tell a US
Senate committee today that a range of potential participants have expressed
interest in the exchange - from power utilities to agricultural
co-operatives.
		The latter could benefit because they would have carbon dioxide "offsets" to
sell - to the extent that farmers' land-management practices resulted in
carbon sequestration (the capture and storage of carbon dioxide in the soil).
		Mr Sandor said yesterday that four co-operatives were discussing
participation in the exchange, including Midwest-based Growmark. "Farmers are
going to be able to produce two crops," said Mr Sandor, arguing that
traditional crop income could be augmented by the environmental credit sales.
		The Senate committee hearings come at a time when there are some signs of
increased interest in using emissions trading to help reduce greenhouse gases
- BP, for example, has instituted an internal carbon- emissions trading
regime - but the idea remains controversial.
		The United Nations conference on climate change at the Hague last November
failed to agree on a legal framework for international emissions trading.
		Separately, the Chicago Board of Trade, which handles an annual auction of
sulphur dioxide emissions allowances for the US Environmental Protection
		Agency, yesterday ann-ounced the second-highest proceeds to date. A total of
128,388 spot allowances were sold, with an average winning price of Dollars
174.97 and a clearing price of Dollars 173.57.
		Enron, the US utility, was the biggest purchaser. The auction of seven-year
advance allowances produced a clearing price of Dollars 105.72, and an
average winning price of Dollars 110.75. Proceeds, at Dollars 36.4m, were
second only to the 1999 figure.
		Copyright: The Financial Times Limited

Power project may get a boost
The energy crisis may prompt a new state board to reverse its predecessor's
ruling on a Southwest Riverside County line.
March 29, 2001

By Sandy Stokes and Thomas Buckley
The Press-Enterprise
Citing renewed debate over the state's energy future, the staff of a state
power system board says it may be time to reaffirm the need for a new
electric power line through southern Riverside County.
If approved by the Independent System Operator board Friday, the
recommendation would be a setback for power-line opponents who last fall
thought they had won a round. In October the board ordered that San Diego Gas
Electric explore alternatives to the high-voltage line before the board
endorsed the project.
Also on Friday, the board -- keeper of the state's electric transmission grid
-- may encourage another look at a second proposal that has caused angst
among hilltop dwellers on the western edge of the county.
Last week, SDGE formally applied to the California Public Utilities
Commission for permission to tap into Southern California Edison's grid by
building a 31-mile, 500,000-volt transmission line through Riverside County
to Rainbow, just south of Temecula. The opinion of the board carries weight
with the PUC.
The proposed route for SDGE's Valley Rainbow Interconnect slices through
French Valley horse ranches and crosses Temecula's scenic wine country,
drawing fire from the area's vintners, residents and some politicians.
"I'm definitely opposed to that route," said Temecula City Councilman Ron
Roberts. "It affects everybody."
The city and others opposed to the route have until April 22 to lodge
protests with the PUC, which ultimately will decide whether SDGE can build
the line.
Last year, after intense lobbying by Save Southwest Riverside County, the
grass-roots group opposed to the Valley Rainbow project, the Independent
System Operator board required SDGE to look for alternatives to the power
line, including new generating plants.
But in January, Gov. Davis disbanded the 28-member board and replaced it with
five of his appointees. The new board Friday will review the previous board's
decision.
The agency's staff recommends reaffirming the need for a transmission line
from Romoland to Rainbow while taking back the requirement that SDGE look for
alternatives.
"That's good news," said SDGE spokesman Art Larson. Construction on the line
is scheduled to begin in the summer of 2004 and be completed two years later.
When the project was first unveiled last summer, the utility's purpose for
the line was to bring more electricity to its San Diego County customers,
whom company officials said would begin experiencing blackouts by 2004
without it. Since then, the energy crisis has spawned several proposals for
new power plants. Sempra Energy, SDGE's parent company, has proposed two
large plants in Escondido and Mexicali.
Now the Independent System Operator staff has recommended that the Valley
Rainbow project also be considered a vehicle to move new power from Mexico
and San Diego County into the state's power grid.
Power-line opponent Barbara Wilder of Save Southwest Riverside County said
group representatives will attend the board meeting Friday. "We're going to
ask them to hold the course they did in October," she said.
Riverside County officials will also be there to ask the board to leave the
previous decision intact, said management analyst Barbara Dunmore.
Besides rescinding the previous board's decision, the new board could
"encourage SDGE to continue to explore alternative routes including a route
through Forest Service land," the agency staff's recommendation states.
That route, proposed by a group seeking to build a hydroelectric plant near
Lake Elsinore, would take the transmission line through remote areas of
Cleveland National Forest.
A major financial backer of that project, Texas-based Enron North America,
pulled out, leading some of those who live in the area near the national
forest to breathe a sigh of relief.
During the past several months, SDGE told Enron that if the forest route was
viable, "we would consider it," Larson said. But he said the feasibility of
the route was never demonstrated. "Instead, they pulled out of the project,"
Larson said. "That should tell you something."
Still, the Independent System Operator staff's recommendation to look at the
forest route has made the area's residents worried again.
Elin Motherhead of CAUTION (Citizens Against Unnecessary Transmission lines
In Our Neighborhood) said the group will continue the fight against the route
through Cleveland National Forest.
Gene Frick, a vocal opponent of both the Lake Elsinore hydroelectric power
plant and the power lines, blasted the agency staff proposal.
He aimed his strongest criticism at a staff memo that stated: "The Lake
Elsinore project is favored by the (U.S.) Forest Service. . . .
The memo also suggests that in light of Enron's withdrawal, the "Forest
Service might be persuaded that if the line is built" the hydroelectric
project would become more feasible.
"That's manifestly false," said Frick, pointing to a document the Forest
Service filed with federal regulators in January calling the proposed Lake
Elsinore power plant and transmission lines "inconsistent with the visual
uality standards and guidelines" of the Cleveland National Forest.
Independent System Operator spokesman Patrick Dorinson said the information
about the Forest Service's alleged view came from Enron. Even so, he said,
the power board wants SDGE to consider all possible alternatives.
"I have no idea why the ISO staff put something in there without even
checking to see if it's true," Frick said. "If this is the kind of stuff
public servants do, it's no wonder we're in so much trouble."
Sandy Stokes can be reached by e-mail at sstokes@pe.com or by phone at (909)
587-3140.
Thomas Buckley can be by e-mail at tbuckley@pe.com, or by phone at (909)
245-2934.

?


---------------------- Forwarded by Darron C Giron/HOU/ECT on 04/23/2001
09:10 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 04/23/2001 09:03 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--4/23/01


I just left you a voice-mail stating that I am available this morningor(even
better) Monday morning.


Sorry I am unable to attend but appreciate the invitation.


A contact at Midland Power Cooperative is Roger Wieck.  Phone number is 515-386-4111.

 -----Original Message-----
From: 	Rapp, Bill
Sent:	Wednesday, December 12, 2001 9:08 AM
To:	Graham, Charlie; Rice, Randy; Gilbert, Tom
Cc:	Brassfield, Morris; Dushinske, John; Fancler, Dan; Miller, Mary Kay; Marion, Pierre; Centilli, James; Porter, J. Gregory; Zabawa, Mike; Fossum, Drew
Subject:	RE: Hubbard (ENA)

Charlie,

	I think your summary is very good. I would like to add that although Midland cannot discontinue service to ENA for failure to pay the $88,816.33 and $39,881.55 invoices, Midland can shut off service if ENA fails to pay any future invoices. So, it's imperative that someone from Northern very closely monitor the situation with ENA and Midland to ensure that ENA makes the necessary payments. In addition, the bankruptcy court may require ENA to provide Midland with "adequate assurance" of future payments. If required, this will most likely take the form of a cash deposit or a letter of credit. Again, if ENA fails to provide this adequate assurance, Midland may discontinue service.

 -----Original Message-----
From: 	Graham, Charlie
Sent:	Tuesday, December 11, 2001 5:05 PM
To:	Rice, Randy; Gilbert, Tom
Cc:	Rapp, Bill; Brassfield, Morris; Dushinske, John; Fancler, Dan; Miller, Mary Kay; Marion, Pierre; Centilli, James; Porter, J. Gregory; Zabawa, Mike
Subject:	Hubbard (ENA)

After the meeting yesterday and speaking to Bill Rapp and several others today I believe I can summarize the Hubbard/ENA circumstances as they exist right now:

1)  The Hubbard Compression Services Agreement is with Enron North America (ENA) and ENA has filed for bankruptcy.
2)  The outstanding Oct. ($88,816.33) and Nov. ($39,881.55) Midland Power Coop electric bills to ENA have not been paid, and probably won't be until the bankruptcy proceeding unfolds (if at all).
3)  Under bankruptcy law, a utility cannot discontinue service to a debtor for not paying invoices outstanding at the time bankruptcy is filed and Bill Rapp has asked ENA's bankruptcy attorneys to provide the attached notice to Midlands Power Cooperative.
4)  Under supervision of the bankruptcy court, future invoices received after bankruptcy was filed (Dec 2) will be paid by ENA (if they have the cash?).
5)  ENA's nomination of 2,010 dth/d of "Monthly Fuel Gas Payable" from NNG has been confirmed and is flowing.  (This is their source of cash!?)
6)  Gas Accounting will continue to pay the "Monthly Demand Charge" ($64,549), and the "Monthly Peak Compression Service Charges" (ranges from $300 to $40,000).  The next payment is not due until the end of December.
7)  ENA's O&M payment to NNG for motor operation ($4,072.82) will be billed on the 20th of each month.  One month's payment should have been outstanding when bankruptcy was filed and therefore not paid, however, it was actually paid to NNG on Dec. 6th.
8)  ENA's next $320,000 "Peak Associated Payment" is not due to NNG until July 1, 2002.

There is no certainty when dealing with a bankrupt entity, however, this is where we are today.  The theme I keep hearing is business as usual.

Tom,

Someone from Operations should probably follow-up with Midland Power (I suggest a boat load of empathy regarding their $128,000 in limbo) after they get the ENA letter.

Charlie Graham
Phone 402-398-7061
Fax 402-398-7122
OMA 0629

 << File: 56q101!.DOC >>


Tana,

The WAPA would like to know if there is any more  information that they need
to provide.  Would you please check if there are any serious legal issues
with their application?

Also Doug Helleckson (406-247-7383) mentioned that he would like to add
language to the PA, where it says..."This Password Application will be
governed by and construed in accordance with the laws of the State of New
York. "  They want to add, "...and also the Federal Government".

Thanks,

Noel


[IMAGE]
  Advertisement   [IMAGE]
     Special Offer from Better Homes and Gardens Magazine
 Get the look, the  style, the comfort you want and get in on budget! For a FREE YEAR of America's  favorite home and family magazine, subscribe  today .
 Dear scott,  Greetings from  the editors at Better Homes and Gardens! Each recipe has been tested in  the Better Homes and Gardens Test Kitchen.   [IMAGE]New  Potato Salad with Fennel  This lighter variation of a summer classic is perfect  for a potluck gathering.        For a printable version  of this recipe, click  here.    For more recipes,  click here.    New this week:  Picnics:  Seven Great Menus Plus Tips
[IMAGE]     2 fennel  bulbs   3 pounds  whole tiny new potatoes, quartered   3 small yellow  summer squash, sliced 1/4-inch thick   1/3 cup olive  oil or salad oil   1/3 cup lemon  juice   2 tablespoons  coarse-grain brown mustard                 1 teaspoon  sugar   2 cloves  garlic, minced   1/2 teaspoon  salt   1/8 teaspoon  pepper   1/4 cup thinly  sliced green onions   Watercress,  curly endive, or other greens (optional)

     1. Cut off and discard upper stalks from fennel bulbs. Remove  tough outer layer of bulbs; cut off a thin slice from base. Cut fennel  bulbs into thin wedges.      2.   In a covered large pot cook new potatoes in boiling, lightly salted water  for 7 minutes; add fennel wedges and squash slices. Cook for 1 to 2 minutes  more or until potatoes are just tender and fennel is crisp-tender; drain  vegetables well. Let cool about 1 hour.  3. In a screw-top  jar combine oil, lemon juice, mustard, sugar, garlic, salt, and pepper.  Cover and shake well. Add to potato mixture along with green onion; gently  toss to combine. Cover and chill in refrigerator for at least 3 hours.  4. Serve potato  salad on a bed of fresh watercress, curly endive, or other greens, if  desired. Makes 12 side-dish servings.   Make-Ahead Tip:  Up to 1 day ahead, make salad; cover and chill in refrigerator.  Nutrition facts  per serving: 181 calories, 6 g total fat, 1 g saturated fat, 0 mg  cholesterol, 142 mg sodium, 29 g carbohydrate, 2 g fiber, 3 g protein,  1% vitamin a, 37% vitamin c, 3% calcium, 13% iron.
  Special  Promotion from Better Homes and Gardens  [IMAGE]Better  Homes and Gardens New Cookbook Here's  America's best-selling cookbook! This all-time classic covers everything  you'll ever need to know about cooking. 1,259 delicious recipes  in this latest edition! This is the book that teaches America how  to cook! Ringbound Edition. Click here   to purchase.

 [IMAGE] [IMAGE] Our seal assures you  that every recipe has been tested in the Better Homes and Gardens
  Test Kitchen. This means that each recipe is practical and reliable,  and meets our high standards of taste appeal.
 Your Email: [scott.hendrickson@enron.com] is on the mailing list. If you do not wish to  continue receiving the BHG Daily Recipe via e-mail, please edit  your newsletter preferences  or see instructions below to unsubscribe offline.    If you have any questions or concerns, you can e-mail us at support@bhglive.com     To subscribe to the BHG Daily Recipe, please go to bhg.com  Member Center    To update your e-mail address, please go to the bhg.com Member Center   and  click on the link to update your profile. You'll need your current e-mail  address and password to log-in. If you've forgotten your password, there  is a link in the Member Center to have it e-mailed to you.   If you prefer to unsubscribe offline, please send a letter or postcard  with your name, complete mailing address, e-mail address, and the names  of the newsletters from which you wish to unsubscribe to: Newsletter Unsubscribe,  c/o Meredith Corporation LS 205, 1716 Locust St., Des Moines, Iowa 50309-3023    Copyright 2001 Meredith Corporation. All rights reserved.

[IMAGE]


I plan to take the 18th out for vacation as no one else is out that day.  Mary

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com


Oh, I like dirty, not work talk

 -----Original Message-----
From: 	Villarreal, Alexandra
Sent:	Thursday, October 25, 2001 3:08 PM
To:	Griffith, John
Subject:	RE:

no, not dirty. i was asking you if you were busy.   thats all.

 -----Original Message-----
From: 	Griffith, John
Sent:	Thursday, October 25, 2001 2:45 PM
To:	Villarreal, Alexandra
Subject:

What were you saying to me?  Was is dirty?  I hope so.


Michael works for John and we have reviewed the 3rd CE with both.  I can forward to you, I am curious as to what the report is that you are preparing?

Thanks

Tracy

 -----Original Message-----
From: 	Parrish, Paula J.
Sent:	Monday, November 12, 2001 11:21 AM
To:	Geaccone, Tracy
Subject:	Azurix CE

Tracy,
Can you send me whatever you got from Kenny/Michael for Azurix 3rd Current Estimate?  I have a report due to John Garrison that asks for that information.

Thanks,

Paula
paula.j.parrish@enron.com
713-646-7505


Hey guys, I'm sorry this is such short notice - Actually my roommate just
threw it on me this morning that we were having the party this soon.  I
obviously was not able to send this to everyone I would like to invite so
feel free to spread the word.
Regardless, here are the details...

It's a cocktail party so the attire is business casual to semi formal.
The date is Saturday, December 2nd.
Entertainment will once again be provided by the band; 8th Ave. Instinct.
(I will be collecting suggestions for a new name for the band :)
Start showing up around 7pm - That's close to when the band will start.
We're thinking more along the lines of an acoustic session this time in an
effort to avoid any Grinch's a.k.a. Pigs.
No cover.  *We're just asking that everyone bring a bottle of their own
boos.*  We'll provide the mixers and some boos of our own.

Here is our address and directions for those of you who did not make it to
the last party...
4802 SW Vacuna St., Portland.   Ph: 503-246-1700
If you're coming from Portland go South on Barbur Blvd. towards Tigard.
Turn Left on to Capital Hwy.  Go up less then 3/4 of a mile (Capital Hwy.
turns into 49th St.) and see 7-11 on right hand side.  Our street is 4 or 5
streets after 7-11, on the left.
Turn Left on to Vacuna St.  (If you get to PCC Sylvania, you've gone too
far.)  Our place is the 4th house on the right side.

I'd love to see all of you there.  We're hoping for a turn-out like our last
party so again, feel welcome to bring whoever.
See you then, if not sooner!

Katie Trullinger
Wilshire Credit Corporation (REO Dpt.)
800-776-0100 x7804
katie.trullinger@wfsg.com


1.  May Only   $.4300
2.  May/Oct       $.4380
     Jun/Oct         $.4400
Just wanted to show the diff between May and the rest of the summer.

Let me know how this looks.

3.  Nov/Mar  no offer

	  From:  John M Singer @ ENRON                           04/23/2001 10:22 AM

To:	Chris Germany/HOU/ECT@ECT
cc:
Subject:	Equitrans

Chris,
I need a price for Dominion Field Services for 5,000/day delivered to Equitrans for:
1.  May Only
2.  May/Oct
3.  Nov/Mar.
John


Deal all,

Please find attached a copy from a presentation on UK inflation we gave this
morning to John Sherriff, President & COO Enron Europe. It summarizes the
results of our work on inflation so far. As you know the long term models
still remain to be approved. As today is quarter end and there is a
significant P&L effect on a MTM basis John Sherriff would like to proceed as
soon as possible with the new curves.

Thank you all for all your help!

Best regards,

Martina
x34327


I believe this was intended for the other Susan Scott.  I'm Susan M. Scott and work in natural gas trading.

Thanks

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Thursday, August 02, 2001 8:34 AM
To:	Lawner, Leslie; Cantrell, Rebecca W.; Fulton, Donna; Novosel, Sarah; Nicolay, Christi; Shapiro, Richard; Briggs, Tom; Robertson, Linda; Kingerski, Harry; Scott, Susan M.
Cc:	Hartsoe, Joe
Subject:	RE:

Leslie --

Makes sense for at least you to be in on the call (probably good to have Donna F. on as well).  I agree that we need to be discussing with FERC our positions on this.

Jim

 -----Original Message-----
From: 	Lawner, Leslie
Sent:	Wednesday, August 01, 2001 3:31 PM
To:	Cantrell, Rebecca W.; Fulton, Donna; Novosel, Sarah; Nicolay, Christi; Shapiro, Richard; Briggs, Tom; Robertson, Linda; Kingerski, Harry; Scott, Susan M.; Steffes, James D.
Cc:	Hartsoe, Joe
Subject:

I just got a call from Susan Ginsberg at El Paso.  It seems they have heard from FERC staff that INGAA is showing up an awful lot to talk about the marketing affiliate rule and why there should not be any changes, but they wonder why, if they really are separate companies, the affiliates have not been in to talk to FERC themselves.  I think we have already heard this message, but El Paso wants to set up a group to go into FERC.  THey are setting up a conference call for next Thur with some other companies to discuss this issue.  I told them we would be in on the call (we don't have to, tho) but that we may not want to go into FERC with that group.

Would anyone like to be on the call next week, or have any problem with my participation in the call?  Shall we talk about going to FERC to give them our position?  (or should we just tell them to read our comments)


Ned,

Attached for your handling is the Draft Confidentiality Agreement between ECS
and MarkWest.

Thanks,

Eric Gillaspie
713-345-7667
Enron Building 3886
----- Forwarded by Eric Gillaspie/HOU/ECT on 02/20/2001 02:06 PM -----

	Kay Young
	02/20/2001 01:52 PM

		 To: Eric Gillaspie/HOU/ECT@ECT
		 cc:
		 Subject: Re: MarkWest Hydrocarbon CA Check

Hi Eric:

ENA had an agreement with MarkWest that expired January 6, 2001 re Possible
ENA debt or equity financing in connection with MarkWest's participation in
certain midstream gas processing plant projects in  East Lost Hills area -
Kern City California.

That is the only agreement I have with or pertaining to MarkWest.

Kay

Kay C. Young
Legal Specialist
Enron North America Corp.
713-853-6794 Phone
713-646-3393 Fax
kay.young@enron.com

	Eric Gillaspie
	02/20/2001 11:02 AM

		 To: Kay Young/HOU/ECT@ECT
		 cc: Ned Higgins/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT
		 Subject: MarkWest Hydrocarbon CA Check

Kay,

I've attached the confidentiality check form for your review, as well as, the
Texas Secretary of State records on the entity below.

Thanks,

TEXAS SECRETARY OF STATE, CORPORATE RECORD

Name: MARKWEST HYDROCARBON, INC.

Tax Address: 155 INVERNESS DR W STE 200
?????????????ENGLEWOOD, COLORADO 80112

Type of Corporation: FOREIGN PROFIT

Status: ACTIVE

Standing from Comptrollers Office: IN GOOD STANDING, NOT FOR DISSOLUTION OR
WITHDRAWAL

Status Date: 10/08/1996

Filing Date: 10/08/1996

Duration: PERPETUAL

State of Incorporation: DELAWARE

Registered Agent: CT CORPORATION SYSTEM

Registered Office: 350 N. ST. PAUL
???????????????????DALLAS, TEXAS 75201

Subsidiaries: MARKWEST MICHIGAN, INC.
?????????????????State: ? COLORADO
?????????????????% Owned:?100
?
??????????????MARKWEST RESOURCES, INC.
?????????????????State: ? COLORADO
?????????????????% Owned:?100

Tax Year: 1998

State Tax ID: 030118986824

Officers and Directors:
?
????FOX, JOHN M
????PRESIDENT
????(OFFICER)
????155 INVERNESS DR W
????ENGLEWOOD, COLORADO 80112
?
????O'NEILL, BRIAN T
????VICE PRESIDENT
????(OFFICER)
????155 INVERNESS DR W
????ENGLEWOOD, COLORADO 80112
?
????DENNEY, ARTHUR J
????VICE PRESIDENT
????(OFFICER)
????155 INVERNESS DR W
????ENGLEWOOD, COLORADO 80112
?
????GARVIN, ROBERT F
????VICE PRESIDENT
????(OFFICER)
????155 INVERNESS DR W
????ENGLEWOOD, COLORADO 80112

Number: 00112001-06

History:

? ?Date	Transaction
----------	-----------

10/08/1996	CERTIFICATE OF AUTHORITY
09/26/1998	PUBLIC INFORMATION REPORT FILED
09/26/1998	PUBLIC INFORMATION REPORT FILED
03/27/1999	PUBLIC INFORMATION REPORT FILED WITH REVISIONS
03/27/1999	PUBLIC INFORMATION REPORT FILED WITH REVISIONS
06/21/1999	PUBLIC INFORMATION REPORT FILED

06/21/1999	PUBLIC INFORMATION REPORT FILED
01/20/2001	PUBLIC INFORMATION REPORT FILED

Eric Gillaspie
713-345-7667
Enron Building 3886


I received word that the switch deal is off. Thanks anyway.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


James, can you please run 2 cases to calculate a backhaul rate to Phoenix using Sun Devil?

case 1: Using the Capex of $290,181,156 (which includes the Red Hawk lateral), what does the rate need to be using 100% load factors for 20 years with the terminal value and our hurdle return rate of 15%?  Assume fuel at 0% for the entire term (source of gas would likely be Cal border area storage facilities).

case 2: same as above but load factors as follows:

year 1-2		50%
year 3-4		70
year 5-7		85
year 8-20	100%

We are trying to respond to Panda Energy by Friday 2/22.

thanks
kh


To All:
It seems as if CASCO has several major issues with our form of ISDA and
obviously it is going to be difficult negotiating/executing this document.  I
plan to notify Grant Oh, the Canadian Originator, to make him aware of these
issues and advise him of the issues we face.  In addition, I will request
that he speak to his contact at CASCO to let him know that the comments
provided are very much outside our standard negotiating guidelines.

Thanks
Russell

 -----Original Message-----
From:  Panus, Stephanie
Sent: Thursday, May 17, 2001 1:40 PM
To: St Clair, Carol
Cc: Diamond, Russell; Cook, Mary
Subject: ISDA Agreement between Enron Canada Corp. and CASCO Inc.

See below comments from Casco.

----- Forwarded by Stephanie Panus/NA/Enron on 05/17/2001 01:39 PM -----

	"Tonon, Lina" <LTonon@osler.com> 05/17/2001 01:30 PM 	   To:
"'stephanie.panus@enron.com'" <stephanie.panus@enron.com>  cc:
"'terry.gabriele@casco.ca'" <terry.gabriele@casco.ca>,
"'jack.jagdeo@casco.ca'" <jack.jagdeo@casco.ca>,
"'cheryl.beebe@cornproducts.com'" <cheryl.beebe@cornproducts.com>,
"'peter.johnson@cornproducts.com'" <peter.johnson@cornproducts.com>  Subject:
ISDA Agreement between Enron Canada Corp. and CASCO Inc.

MESSAGE FROM STEVEN W. SMITH

Stephanie:

Russell Diamond has raised a number of issues on the ISDA Schedule with
Terry Gabrielle of Canada Starch.  I have discussed these issues with Mr.
Gabrielle and thought it would be helpful if I set out Canada Starch's
position on those issues.  You will appreciate that it is important to
Canada Starch that its ISDA Master Agreement and Schedule be consistent with
those utilized in the Corn Products International family of companies.
Accordingly, Canada Starch has very limited flexibility in moving away from
the standard form of Schedule prescribed by Corn Products International for
use by its subsidiary companies.

1.   CASCO has not defined a cross default amount
      CASCO is suggesting a Threshold Amount of Cdn.$10 Million.
2.   CASCO is requesting Market Quotation, as opposed to Market Loss
      We have reviewed the arguments for and against the use of
Market Quotation versus the use of "Loss" and CASCO is of the view that the
obtaining of Market Quotations from Reference Market-Makers is the more fair
method to use.  Accordingly, CASCO proposes to use Market Quotation, which
incidentally is the Corn Products International Standard provision.
3.   CASCO is not including additional cure language for Credit Event
Upon Merger
      The suggested "cure" language of Enron is not consistent
with the Corn Products International standard provision.  CASCO's view is
that Enron is free to offer these proposed solutions to CASCO in the event
of a Credit Event Upon Merger and CASCO will determine whether or not to
accept either of these "remedies" at that time.  CASCO is not prepared to
accept these remedies in advance of such Credit Event Upon Merger occurring.
4.   CASCO is restricting the ability to net payments to only
transactions of the same type
      CASCO is required to restrict netting on this basis because
it does not have the systems in place to net across transactions of
different types.
5.   Cross default - CASCO is requesting to aggregate defaults for
purposes of determining if the threshold has been exceeded
      CASCO's position is consistent with that provided in the
Corn Products International standard and we believe is a fair method by
which to deal with defaults which may individually be relatively minor in
nature but in the aggregate, exceed the Threshold Amount.
6.   CASCO is not accepting affiliate setoff
      Once again, affiliate setoff is not contemplated by the Corn
Products International standard agreement.  Moreover,  CASCO questions the
fairness of binding its affiliates to a setoff provision to which it might
not be aware.  Moreover, we have advised CASCO that the legal enforceability
of an affiliate setoff provision is questionable.
7.   CASCO, potentially, want to confirm physical transactions under the
ISDA
      We assume that you are referring to the section of Part 7
Commodity Transactions which contemplates physical settlement.  If that is
the case, CASCO has put forward this provision because it is consistent with
the Corn Products International standard.
8.   CASCO has not included transfer, applicable rate and limitation of
liability language in the schedule
      Each of these items were excluded because they are not
consistent with the Corn Products International standard.  With respect to
the transfer provisions, CASCO is of the view that it is prepared to
consider a transfer request from Enron once it knows the particular
circumstances of the transfer.  CASCO is not prepared to approve transfers
in advance of knowing the details, not withstanding the continued existence
of a guarantee.
      With respect to the change to Applicable Rate, as mentioned
above, this change is not part of the Corn Products International standard
and it is not clear to CASCO why this change should be made.
      With respect to the limitation of liability language, not
only is this section not consistent with the Corn Products International
standard, but it is also inconsistent with any other ISDA Master Agreement
entered into by CASCO.
9.   CASCO is not accepting the Credit Support Annex
      It is CASCO's understanding that the ISDA Master Agreement
between CASCO and Enron was meant to be based on the creditworthiness of
CASCO, without any Credit Support Annex or other form of Credit Support
Provider being involved (other than the guaranty of Canada Starch Operating
Company Inc.)  Accordingly, CASCO is not prepared to enter into a Credit
Support Annex.
10.   There seems to be concerns with Enron's $15MM Guaranty cap
      It is CASCO's understanding that the ISDA Master Agreement
is meant to be a foundation document for all future Transactions (as defined
in the ISDA Master Agreement) which occur between CASCO and Enron Canada
Corp.  Accordingly, it seems inconsistent to CASCO to place a limit on the
guaranty which Enron Corp. is prepared to provide.  Any such limit would
necessarily require CASCO to re-visit the guaranty and the appropriateness
of the limit before any subsequent transaction is entered into.  It is
CASCO's experience in other ISDA Master Agreements that the guarantees
provided by the Credit Support Provider of its counterparty are
unconditional as to both time and amount.
Stephanie, I hope the foregoing helps explain CASCO's position on the
various outstanding issues in the ISDA Schedule.  Taking into the account
the foregoing comments, I look forward to receiving your comments on the
draft Schedule which I forwarded to you on March 26, 2001.

Lina Tonon
Legal Assistant to Steven W. Smith
Osler, Hoskin & Harcourt LLP
Direct:  416-862-6610
Fax:     416-862-6666

**********************************************************************
This e-mail message is privileged, confidential and subject
to copyright. Any unauthorized use or disclosure is prohibited.

Ce message ,lectronique est privil,gi,, confidentiel et soumis
. des droits d'auteur.  Il est interdit de l'utiliser ou de le
divulguer sans autorisation.
**********************************************************************


I would like to set up a meeting to resolve the status of the Enron NA / Enron Canada contracts.  If Enron NA is not going to perform - nor is in a position to perform - shouldn't we formally cancel these contracts?  At your convenience, please call Lucy Marshall @ 713-853-4525 to indicate a convenient time.  Wednesday PM may work well for the group.

Regards,

Jim


---------------------- Forwarded by Robin Rodrigue/HOU/ECT on 07/26/2000
06:30 PM ---------------------------

	From:  Brooklyn Couch                           07/26/2000 06:24 PM

To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: FW: FRUSTRATION RELEASE MECHANISM

---------------------- Forwarded by Brooklyn Couch/HOU/ECT on 07/26/2000
06:24 PM ---------------------------

Renee Ingram
07/21/2000 01:15 PM
To: Brooklyn Couch/HOU/ECT@ECT, Jeffrey McClellan/HOU/ECT@ECT, Frank
Cernosek/HOU/ECT@ECT, Misti Day/HOU/ECT@ECT, Paula Harris/HOU/ECT@ECT
cc:
Subject: FW: FRUSTRATION RELEASE MECHANISM

cc:
Subject: FW: FRUSTRATION RELEASE MECHANISM

Admins,

Turn up volume - have fun.

Jimmy
---------------------- Forwarded by Jimmy Manguba/HOU/ECT on 07/21/2000 10:05
AM ---------------------------

	From:  Jaime Navarro @ ENRON                           07/21/2000 09:33 AM

To: Todd Hardwick/Corp/Enron@Enron, Jimmy Manguba/HOU/ECT@ECT, Steven
Nguyen/Corp/Enron@Enron, Danny Ly/Corp/Enron@ENRON, Brian
Stokes/Corp/Enron@Enron, Emmanuel Mangin/Corp/Enron@Enron, Christina
Albers/Corp/Enron@Enron, Jennie Pai/NA/Enron@Enron, Steve
Schleicher/HOU/ECT@ECT, Craig Oishi/NA/Enron@Enron, Trinh
Abrell/Corp/Enron@ENRON, Ruth Metcalf/NA/Enron@Enron, Zach
Moring/Corp/Enron@Enron, Trang Dinh/HOU/ECT@ECT, nancy.truong@bmc.com
cc:
Subject: FW: FRUSTRATION RELEASE MECHANISM

---------------------- Forwarded by Jaime Navarro/NA/Enron on 07/21/2000
09:28 AM ---------------------------

"Guerra, Luis R SSI-ISAC" <LG202261@MSXSSC.SHELL.COM> on 07/21/2000 09:22:55
AM
To: "'AnnGuerra'" <annguerra@pdq.net>, "'bhdavis@ev1.net'" <bhdavis@ev1.net>,
"Butler, Donald DW SSI-ISAT" <DB183576@MSXSSC.SHELL.COM>, "Castillo, Sergio S
SSI-ISAC" <SC202308@MSXSSC.SHELL.COM>, "Cherubini, Art AA SSI-EPDA"
<AC724151@MSXSEPC.SHELL.COM>, "Davis, Brett BH SSI-ISAC"
<BD186682@MSXSSC.SHELL.COM>, "Davis, Wendy WG SSI-ISAT"
<WD202447@MSXSSC.SHELL.COM>, "Everett, Timothy TG SSI-ISAC"
<TE186658@MSXSSC.SHELL.COM>, "Ferrell, Jean J SSI-EPDA"
<JF158003@MSXSEPC.SHELL.COM>, "Harrison, George GE SSI-ISAC"
<GH186598@MSXSSC.SHELL.COM>, "'Jaime.Navarro@enron.com'"
<Jaime.Navarro@enron.com>, "'jamesj@wessys.com'" <jamesj@wessys.com>, "'Jerry
Duran'" <jlduran@swbell.net>, "'kathy.montgomery@bankofamerica.com'"
<kathy.montgomery@bankofamerica.com>, "'jerry sturm'"
<jerry_sturm@hotmail.com>, "'John Campbell'" <jmcbkc@hotmail.com>, "Mccoy,
Gerald R SSI-ISAC" <GM186591@MSXSSC.SHELL.COM>, "'MDK825@aol.com'"
<MDK825@aol.com>, "Nowak, Valerie V SSI-ISAO" <VN202477@MSXSSC.SHELL.COM>,
"Paramore, Robert RJ SSI-ISAC" <RP186478@MSXWHWTC.SHELL.COM>, "Rabalais,
Bruce L SSI-ISAC" <BR186912@MSXSSC.SHELL.COM>, "Rowden, Don D SSI"
<DR999244@MSXSEPC.SHELL.COM>, "'Roxanna Gonzalez'" <RGonzalez@lgc.com>,
"Stephenson, Lynn LC SSI-ISAC" <LS186714@MSXSSC.SHELL.COM>, "'Olivia Guerra'"
<niki_17_00@yahoo.com>
cc:

Subject: FW: FRUSTRATION RELEASE MECHANISM

Thought you all might be able to use this sometime.

>
>

> Subject: FW: FRUSTRATION RELEASE MECHANISM
>

>  <<DESKTOP.exe>>

 - DESKTOP.exe


Y'all,

It was great working with all of you in the US and the UK.

I am now moving on to possible opportunities on the European Continent.

Below are my current coordinates and permanent personal email.

Tel: + 44 (0) 20 8255 0848
Mobile: + 44 (0) 7747 110 326
email: bgaillard@yahoo.com

Good luck to all

Bruno


Thanks for the information below.  Sometime next week, would you go ahead and
make a copy of the contract brief for me.  You can interoffice mail it to me
at
EB 3703.

Thanks,

Kathy Benedict

Daren J Farmer
11/22/2000 11:42 AM
To: Katherine Benedict/HOU/ECT@ECT
cc:
Subject: Re: Cornhusker

If you need it, I've got a contract brief that lists the transport cost and
fuel from each location (there numerous receipt points).  It is possible that
we may need to purchase extra gas for the plant on occasion.  In that case,
we can use the same transport contract on Lone Star and transport on other
pipes also.  Any expense we incur to deliver gas to the plant will be passed
on to the plant.

If you have any questions, let me know.

D

Katherine Benedict
11/22/2000 11:23 AM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Cornhusker

Hi Darrin,

This is what Mark McCoy sent me about the Cornhusker Deal.  Please review and
if there is anything else that Rita Wynne or I need to know about this deal,
just shoot me an e-mail!

Thanks for calling me back!

Happy Thanksgiving,

Kathy

---------------------- Forwarded by Katherine Benedict/HOU/ECT on 11/22/2000
11:19 AM ---------------------------

Mark McCoy@ENRON
11/22/2000 08:12 AM
To: Katherine Benedict/HOU/ECT@ECT
cc:
Subject: Cornhusker

Kathy-----Here is what I know about Cornhusker:

Our supply comes from Apache & Williams

Our market typicially is the plant (Tenaska IV Partners)
If the plant is down, Brazos Utility has the right to the gas if they want it
If Brazos does not call for the gas, then we will sell off to whomever we can

We just get a flat fee on this gas per MMBtu, whether it goes to the plant or
not

Daren Farmer knows the specifics about the deal

Hope this helps, call with any questions.

Mark
x33396


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 04/04/2001
06:59 AM ---------------------------

"Matt Lenhart" <mlenhart@houston.rr.com> on 04/04/2001 05:19:37 AM
To: <matthew.lenhart@enron.com>
cc:

Subject:

?
 - rOutkast - Rosa klParks.mp3


How's about we talk about it?  I think that's more efficient.  As long as we
talk before the next call, we should be in good shape.

Kay

From: Scott Dieball@ENRON_DEVELOPMENT on 02/02/2001 06:25 PM
To: Kay Mann/Corp/Enron@Enron, Sheila Tweed/HOU/ECT@ECT
cc:

Subject: GE - End World Hunger

Could I please get your feedback on the comments I sent to you re the
Indemnity, LOL and Nondisclosure provisions so that I can consolidate and
send our comments to GE on Monday (unless of course you took these up with GE
in the last call that I missed).

Thanks,

Scott


Please mark your calendar for a mandatory staff meeting with Kevin Presto tomorrow, Oct. 24th from 4- 5pm in room 30c1.

Thanks

T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


-----Original Message-----
From: 	"Garth N. Renfrow" <grenfrow@ong.com>@ENRON [mailto:IMCEANOTES-+22Garth+20N+2E+20Renfrow+22+20+3Cgrenfrow+40ong+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Tuesday, June  26, 2001 1:39 PM
To:	Johnson, Rudwell
Subject:	ONEOK Guaranty

Our attorney has approved all requested changes to the ONEOK guaranty format.  I
will prepare a copy to be executed and sent to Bridgeline Gas Marketing LLC this
week.  If you have any questions please contact me.

Garth Renfrow
Credit Analyst
(918) 591-5016
grenfrow@oneok.com


Do you have the April CNR invoice file?

 -----Original Message-----
From: 	Price, Wade R.
Sent:	Friday, June 21, 2002 2:49 PM
To:	Germany, Chris; Barbe, Robin
Subject:	DOM Files, CNR Files

 << File: DTIStatus.xls >>  << File: DomDec01Split.xls >>  << File: acng.txt >>  << File: CNR ACT-200112.xls >>  << File: CNR ACT-200201.xls >>  << File: CNR ACT-200202.xls >>  << File: CNR ACT-200203.xls >>


doubleday

	Enron North America Corp.

	From:  Timothy Blanchard @ EES                           04/18/2000 08:06 AM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject:

what's the name of that dermatologist?


Redline of the changes we discussed.


Here is the latest version of the comments we have been working on.  If y'all get it finalized and want to file it next week, please communicate any changes to Melinda and she will take care of it.  If it's still here when I get back from vacation on the 15th, we'll get it filed then.


Anne,

It was a great pleasure working with you. I hope everything will
work out for you when the dust settles. Please, let me know if thee is
anything I can do for you.

Vince

 -----Original Message-----
From: 	Labbe, Anne
Sent:	Saturday, December 08, 2001 8:35 PM
To:	Dupont, Anita; Barkley, Tom; Bennett, Stephen; Bharati, Rakesh; Candella, Therese; Chopra, Shravan; Crenshaw, Shirley; Cunningham, Lance; De, Rabi; Deng, Kenneth; Dhar, Amitava; Ganjoo, Shalesh; Grigorov, Anguel; Hrgovcic, Joseph; Huang, Alex; Issler, Paulo; Johnson, Heather A.; Kaminski, Vince J; Kiatsupaibul, Seksan; Koepke, Gwyn; Kohli, Sandeep; Krishnarao, Pinnamaneni; Lee, Bob; Lew, Jaesoo; Lin, Martin; Lu, Zimin; Marquez, Jose; Mellacheruvu, Praveen; Moore, Kevin G.; Mora, Mauricio; Mujica, Mitra; Narongwanich, Wichai; Neale, Nelson; Rajan, Karthik; Raymond, Maureen; Roberts, Mike A.; Sezgen, Osman; Shanbhogue, Vasant; Sokolov, Jason; Stevens, Adam; Sud, Pravas; Supatgiat, Chonawee; Tamarchenko, Sofya; Tamarchenko, Tanya; Vasudevan, Sriram; Walton, Leann; Yaman, Sevil
Subject:	Thank You

Research Group-

I just wanted to take this opportunity to tell each of you "thanks" for a wonderful ride.  It has been such a pleasure getting to know you, and working with you.  I do not think that I have ever been exposed to such a talented and extraordinary group of individuals.  I am sorry that I have not been around these past two weeks- I have been running wild though.  If I can ever do anything for any of you, please feel free to email me at alabbe4@yahoo.com.

Best Wishes for your continued success. . . I know that you will not have any problems though because all of you are "Super Stars"!!

Thanks again,
Anne

 -----Original Message-----
From: 	Dupont, Anita
Sent:	Friday, December 07, 2001 2:44 PM
To:	Barkley, Tom; Bennett, Stephen; Bharati, Rakesh; Candella, Therese; Chopra, Shravan; Crenshaw, Shirley; Cunningham, Lance; De, Rabi; Deng, Kenneth; Dhar, Amitava; Ganjoo, Shalesh; Grigorov, Anguel; Hrgovcic, Joseph; Huang, Alex; Issler, Paulo; Johnson, Heather A.; Kaminski, Vince J; Kiatsupaibul, Seksan; Koepke, Gwyn; Kohli, Sandeep; Krishnarao, Pinnamaneni; Labbe, Anne; Lee, Bob; Lew, Jaesoo; Lin, Martin; Lu, Zimin; Marquez, Jose; Mellacheruvu, Praveen; Moore, Kevin G.; Mora, Mauricio; Mujica, Mitra; Narongwanich, Wichai; Neale, Nelson; Rajan, Karthik; Raymond, Maureen; Roberts, Mike A.; Sezgen, Osman; Shanbhogue, Vasant; Sokolov, Jason; Stevens, Adam; Sud, Pravas; Supatgiat, Chonawee; Tamarchenko, Sofya; Tamarchenko, Tanya; Vasudevan, Sriram; Walton, Leann; Yaman, Sevil
Subject:	FW: Last Hurrah Dinner - URGENT CHANGE OF RESTAURANT
Importance:	High

Buca di Bepo could not take 34 people tonight so we have moved the dinner to NICK'S PASTA PLACE, 4057 BELLAIRE BLVD., HOUSTON, TX; PHONE:  713-661-0025.
DIRECTIONS:  Going South on I-59 take the Weslyan Exit, turn left under the freeway and go south on Weslyan; when you get to Bellaire Blvd, turn right and the restaurant is about 1/2 to 1 block away on the left .

Regards,

Anita DuPont
Enron Research Group
713-853-0329
EB 1969

 -----Original Message-----
From: 	Dupont, Anita
Sent:	Friday, December 07, 2001 11:53 AM
To:	Barkley, Tom; Bennett, Stephen; Bharati, Rakesh; Candella, Therese; Chopra, Shravan; Crenshaw, Shirley; Cunningham, Lance; De, Rabi; Deng, Kenneth; Dhar, Amitava; Ganjoo, Shalesh; Grigorov, Anguel; Hrgovcic, Joseph; Huang, Alex; Issler, Paulo; Johnson, Heather A.; Kaminski, Vince J; Kiatsupaibul, Seksan; Koepke, Gwyn; Kohli, Sandeep; Krishnarao, Pinnamaneni; Labbe, Anne; Lee, Bob; Lew, Jaesoo; Lin, Martin; Lu, Zimin; Marquez, Jose; Mellacheruvu, Praveen; Moore, Kevin G.; Mora, Mauricio; Mujica, Mitra; Narongwanich, Wichai; Neale, Nelson; Rajan, Karthik; Raymond, Maureen; Roberts, Mike A.; Sezgen, Osman; Shanbhogue, Vasant; Sokolov, Jason; Stevens, Adam; Sud, Pravas; Supatgiat, Chonawee; Tamarchenko, Sofya; Tamarchenko, Tanya; Vasudevan, Sriram; Walton, Leann; Yaman, Sevil
Subject:	Last Hurrah Dinner
Importance:	High

The Research Group is planning a dinner tonight at 7:00 PM at Buca di Bepo on Buffalo Speedway and Westpark off of I-59 South.  Please let me know if you and your family are planning to attend.  I need to make a reservation by 2:00 PM today,  Everyone will be responsible for their own bill.

Regards,

Anita DuPont
Enron Research Group
713-853-0329
EB 1969


Please send the information required to me and I will send to Legal to
complete.  The account at Morgan Stanley was set up to hold the shares of
Enron Investment PLC's shares of MG, the company we acquired in UK.
Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 07/10/2000 03:31
PM ---------------------------

Janine Juggins
07/10/2000 01:16 PM
To: Daniel King/LON/ECT@ECT
cc: Mary Perkins/HOU/ECT@ECT, Anne Hicks/LON/ECT@ECT, Sheila
Glover/HOU/ECT@ECT
Subject: Re: Enron Investments Plc

Anne tells me that it is a securities account which was set up by Sheila
Glover. Sheila please can you give Daniel some information on why this was
set up. We have been sent a US withholding tax document to complete.
Regards
Janine

Daniel King
10/07/2000 17:12
To: Mary Perkins/HOU/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT

Subject: Enron Investments Plc

I have received a couple of forms from Morgan Stanley Dean Witter re Enron
Investments Plc. They have asked that we sign and return to them a form W-8,
"Certificate of Foreign Status", and also a form 1001, "Ownership, Exemption,
or Reduced Rate Certificate".

These forms are in respect of a bank account number 038112215, which we have
no record of here. Could you please let me know if you have any details of
this account so that I can fill in the forms if appropriate. We only have 30
days to complete and return the forms from the date the account opened, after
which it is likely that any interest earned on the account will be subject to
withholding tax.

thank you for your help.

Daniel