-----Original Message-----
From: Teel Bivins [mailto:Teel@ranches.org]
Sent: Wednesday, November 22, 2000 10:14 AM
To: Alex Annett (E-mail); Andrew Bivins; Betty Bivins Lovell; Bill and Mary
Britain (E-mail); Bill Snure (E-mail); Bill Walsh (E-mail); Bob Gibson; Bob
Langhorne (E-mail); Burney Claire and Paul (E-mail); Byron Gossett (E-mail);
Caroline Smith; Dale Smith; Dan Branch (E-mail); Don Powell (E-mail); Ellen
Bivins; Emily O'Brien; Fergus Reid (E-mail); Frank Meneghetti (E-mail);
Glenn Mortimer (E-mail); Hamilton Madden; Hector Barreto (E-mail); Hollis
Russell (E-mail); Jack Miller (E-mail); Jim J. Brewer (E-mail); Jimmie Kone
(E-mail); John Indrieri (E-mail); John Pletcher; Joseph Samora (E-mail);
Julie Bivins; Katie Bivins (E-mail); Lea and Tom Blakeney (E-mail); Lee and
Mary Arnett (E-mail); Linda Gray; Linda Griggs; Mark Bivins; Mary Ceverha
(E-mail); Mary Nell Lemert; Meredith Childers; Miles Childers; Nancy Bivins
(E-mail); Neal Odom; Nick Mutton (E-mail); Ninia Bivins; Ninia Bivins
(E-mail); Patrick Oxford (E-mail); Paula Day (E-mail); Rex Lemert; Robert
*Duncan (E-mail); Robyn Hadley (E-mail); Ross Wilson (E-mail); Roy & Martha
Jarnagin (E-mail); Speaker John Thrasher (E-mail); Steve Minikes (E-mail);
Susie O'Brien; Terry Johnson (E-mail); Tim & Karen Hixon (E-mail); Tom
Bivins; Tom Roller (E-mail); Tommy Patterson (E-mail); Wales Madden IV;
Wayne Hamilton (E-mail); Wayne Moore (E-mail)
Subject: Stalin Quote

Stalin quote:
"Those who cast the votes decide nothing.
 Those who count the votes decide everything."


Mary,
 Here is the draft TSA you requested.  Mike has provided the
supporting information.  Although the Interconnection Study and System
Impact Study are included, the IOA is not.  That will be subject to
finalization in parallel with this document.

Brian

 <<EnronLTSAdraft.doc>>  <<ENRON230MWFinal-CaseJ.pdf>>
<<ENRON_system_impact_report.pdf>>

 - EnronLTSAdraft.doc
 - ENRON230MWFinal-CaseJ.pdf
 - ENRON_system_impact_report.pdf


Attached is the most recent draft of the guidelines.  Please let me have your
comments.  Sara

Lynn Aven@ENRON_DEVELOPMENT
12/27/99 05:59 PM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: Argentina Trader Guidelines

Sara:  I probably have them somewhere but if you could forward to me the
latest guidelines, I will look at them and we can discuss.  All I remember
looking at was a marked up copy that you had while we were in Sao Paulo.

Lynn

Sara Shackleton@ECT
12/20/99 04:20 PM
To: Lynn Aven/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Argentina Trader Guidelines

Lynn:  Weren't you going to take a look at the Trader Guidelines for
Argentina?  Let me know if you have any questions or if I can help you
further.  Thanks.  SS


Patrick Garner
1602 SW 16 Street
Gainesville, FL 32608
pgarner@ufl.edu

To Mr. Ken Lay,

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

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

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

Sincerely,

Patrick Garner


Well, aren't you just full of wisdom!

James T Javins@EES
04/06/2000 08:02 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Coronado Pipeline

This was a seasonal thing.  It may pay to make a call to CNG and confirm that
all is back to normal.

Jim


Not really because I am going to get access to Telerate.. either one is ok by me.  BT


A new Kudlow's Take has been published on Kudlow.com. As a subscriber, you may click the hyperlink below, login, and view the latest Kudlow's Take. AOL Users please note, you may need to copy and paste the hyperlink into your web browser.

Thank You,

Kudlow & Company, LLC.

http://www.kudlow.com/members/login.asp?To=Content&ContentID=363


---------------------- Forwarded by Dave Samuels/HOU/ECT on 05/08/2000 04:05
PM ---------------------------

"Abudi Zein" <azein@energyargus.com> on 05/08/2000 03:56:16 PM
To: "David A. Samuels" <dave.samuels@enron.com>
cc:
Subject: comments on the agreement draft

David,
Thank you for sending the agreement draft on Friday. Here are my notes after
the first reading. If you wish to discuss those further, perhaps we can
schedule a time on the phone.
Preamble: We are a Delaware corporation.
Section 1: Definition: the attrition rate per your definition is diluted by
the addition of new clients. The attrition rate should calculated based on
the number of existing clients at the beginning of the agreement without
taking new clients into account.
Section 3: Termination of the Agreement should be mutual, and we cannot
agree to keeping the Exclusivity at the same level through any renewal
periods.
Section 5: the definition of competitors is too broad. We would like to see
something that more tightly defines electronic trading of wholesale
commodities. We would like to retain the ability to offer these services in
areas where Enron Online is not active, such as supply chain systems, and in
the retail markets for large commercial and industrial concerns. Also, I am
not sure  whether this is intended, but your reference to "any Publication"
will give you exclusivity to ALL our publications for the fee set out in 4
a. That is not the intent.
Section 6 (b) should be removed (see comments on Section 1)
Section 10. we cannot agree to letting Enron disclose the existence of this
agreement without our consent. Any disclosure about this agreement,
including the fact of its existence, should be by mutual consent.
Section 12: we need a mirror section indemnifying us against all and any
claims against Enron Online. This would be a show-stopper for our lawyers.
Section 13: I am not sure we have such an insurance, but even if we did, I
am not sure why Enron is requiring this given that there is a clear
indemnification
Section 14 (a) three days seems unduly short. I would say 5 days is more
reasonable. There are no fee payments in advance, so I believe we can remove
mention of fees being paid back.
Section 17: we're really not looking for a monetary commitment from Enron on
helping us find illegal distribution. What is important to us is that Enron
has a contractual obligation to notify us immediately if it becomes aware of
any breach of copyright or illegal distribution. It would be good if that
were written into this section.
Section 29: typically, we do not agree to arbitration clauses for the simple
reason that these types disputes tend to end up in court anyway, and then
the two parties have spent money on arbitration and still have the legal
costs ahead of them. I believe we can live with this clause, but it would be
better if it were not there.
There might be a couple more points that come up from my colleagues or on a
second reading, but I believe these are the main sticking points at the
moment.

Abudi Zein


Let me know if this works.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/01/99 09:59
AM ---------------------------

Clement Abrams@ENRON
10/01/99 09:41 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Guaranty - Langauge for Expenses

Sara, here's the language. Call me if you have any questions or comments.
Clem

EXPENSES. The Guarantor agrees to pay on demand all reasonable out of pocket
expenses ( including reasonable fees and expenses of Counterparty,s counsel)
in any way relating to the enforcement or protection of the rights of the
Counterparty hereunder, provided that the Guarantor shall not be liable for
any expenses of Counterparty if no payment under this Guaranty is due.


MICHAEL PATTON
1826 EDDY STREET
SAN FRANCISCO, CA 94115
PATTON@AOL.COM

To Mr. Ken Lay,

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

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

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

Sincerely,

MICHAEL PATTON


The CAISO will be presenting a training class for the use of the InterSC
Trade of Adjustment Bid templates.

WHERE: CAISO Bldg. 101 -1a
When: July 14th  @ 0900-1500
Continental breakfast  and Lunch will be provided.

Please send your reservation to Tborchardt@caiso.com before 7/7/00

Jim Blatchford
Client Relations
Cal ISO
916.608.7051


Tell me you are joking.

Ps. Not funny.
Shemin V. Proctor


Monika,

As it looks like I may have a slow day today, I was wondering if you could forward your most recent copy of the Itochu analysis for review?  Thanks.

KC


to my knowledge, whenever we set up new gas books we always request all attribute types to be attached  (i.e. gas daily, basis, index, etc...).

 -----Original Message-----
From: 	White, Stacey W.
Sent:	Tuesday, January 15, 2002 2:26 PM
To:	Dahlke, Andrea; Evans, Casey
Subject:	FW: Revised Book Entry template

Hope this helps a little bit re: RisktRAC.  After talking to Jeff, I believe the key to book codes is ensuring from IT that we can use whatever we want as the database will be entry.  Andrea, I agree that you should keep a power list and Kam should keep the gas list.  Also, just wondering if when we set up the gas books should we have also put in requests for gas daily, basis, index, etc.  I couldn't remember how that worked.

Stacey

 -----Original Message-----
From: 	Brackett, Debbie R.
Sent:	Tuesday, January 08, 2002 3:06 PM
To:	Gossett, Jeffrey C.; White, Stacey W.
Subject:	FW: Revised Book Entry template

 -----Original Message-----
From: 	Champion, Andrew
Sent:	Tuesday, January 08, 2002 11:47 AM
To:	Brackett, Debbie R.
Cc:	Ramesh, Ganapathy
Subject:	Revised Book Entry template

Debbie, here's the updated Book Entry template.  Added a few dropdowns and "helpful entry tips".  Thanks.

 << File: bookentrytemplate2.xls >>


Thanks, Audrey!  Kim.

 -----Original Message-----
From: 	Robertson, Audrey
Sent:	Friday, August 03, 2001 3:02 PM
To:	Donoho, Lindy; Harris, Steven; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; Robertson, Audrey; Watson, Kimberly
Subject:	Bullet Items

All Team Members:  Please try to get your bullet items to Kim for her review no later than 10:00a on Friday mornings.  Kim has an awesome responsibility of getting the bullets to Steve by 11:00a on Friday mornings.

We will need your assistance in obtaining these objectives.  Let's try our best to get items in on time, even if means updating a few items after lunch.

Can you assist me in this effort?  Yes, you can!!!! (smile)

Have a great weekend....

adr

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

 -----Original Message-----
From: 	Watson, Kimberly
Sent:	Friday, August 03, 2001 2:03 PM
To:	Robertson, Audrey
Subject:	Bullets 08-03-01

Audrey, here they are.  Thanks, Kim.

 << File: BULLETS 08-03-01.doc >>


thanks

 -----Original Message-----
From: 	Berutti, Aaron
Sent:	Tuesday, October 09, 2001 3:56 PM
To:	Smith, Matt
Subject:	RE:

i knew you would say that.  i'll get as much as they have.

 -----Original Message-----
From: 	Smith, Matt
Sent:	Tuesday, October 09, 2001 3:26 PM
To:	Berutti, Aaron
Subject:	RE:

in general, we want all history available.  You never know when they're going to remove it.

 -----Original Message-----
From: 	Berutti, Aaron
Sent:	Tuesday, October 09, 2001 3:03 PM
To:	Smith, Matt
Subject:	RE:

 << File: gzn.ica >> let me know if this doesn't work.  i'm grabbing the last two months of data for them to input into the database.  let me know how far back you want and i'll try to grab it.

aaron

 -----Original Message-----
From: 	Smith, Matt
Sent:	Tuesday, October 09, 2001 2:35 PM
To:	Berutti, Aaron
Subject:

can you email me the gzn file.  My hard drive was replaced and I lost everything on my desktop.


Electricity Deregulation is coming to Texas!
What a great way to start off the New Year ) to be able to choose your
electricity provider, which could mean potential savings for you and your
family on your electric bill.  As you know, Enron has been a leader in
lobbying for deregulation and a consumer,s right to choose energy providers.

For the first time in our state,s history, 5 percent of Texas households will
have this golden opportunity.  The NewPower Company (NewPower), which is
approximately 45 percent owned by Enron, was recently formed to provide
energy and energy-related services to residential customers in deregulating
energy markets across America, including Texas.  For a limited time,
Houston-based employees will be eligible to participate in NewPower,s pilot
program offering their deregulated electric service.

Be Among the First to Participate:
Enrollment with NewPower begins March 12.  Also, watch for a special Enron
Employees Exclusive offer on your desk March 12.  If you would like more
information about NewPower, visit the company's web site at www.newpower.com

Disclaimers:
Any contract for goods or services that is entered into by an Enron employee
with respect to the NewPower program shall be solely between NewPower and
such employee.  Enron assumes no obligation on behalf of NewPower and makes
no representations, warranties, or guaranties with respect to NewPower, or
any goods or services offered or provided by NewPower.


Hey, there's still time to view the presentations given by Enron management
at the annual investor conference held in January.

A link to the replay of the webcast is available at www.enron.com.  A list of
the presentations made at the meeting will appear on the screen.  To view a
presentation, simply click on the title.  The entire webcast is about eight
hours long, with each presentation lasting about 45 minutes to one hour.  The
webcast will be available 24 hours-a-day, seven-days-a-week until Feb. 28.

This is an excellent opportunity for you to get the latest information about
Enron's business activities and strategy.  If you encounter problems
accessing the webcast, call 1-888-457-7469 for help.


http://www.epinions.com/hmgd-Home_Furnishings-Mattresses-All
Mo Elafandi
Enron North America
121 SW Salmon, 3WTC0407
Portland, OR 97204
503-464-5106
Fax 503-464-7376
Cellular 503-860-8564


Hi Louise,
You had asked which companies these acronyms represented for billings last year....

 -----Original Message-----
From: 	Fellers, Diane R.
Sent:	Friday, September 28, 2001 1:41 PM
To:	Killen, Faith
Cc:	Leschber, Edie
Subject:	Research Allocations

Faith,

The names of the business units you requested are:

EIC - Enron India Commercial (061P)
ESS - Enron Southern Cone Support (061N)
ELO - Enron CALME Operations (061M)

Please let me know if there is any other information you need.

Thanks,
Diane


----- Forwarded by Tana Jones/HOU/ECT on 12/12/2000 10:17 AM -----

	Tana Jones
	12/06/2000 03:15 PM

		 To: dune.thorne@oracle.com, jane.akdoruk@oracle.com
		 cc: George Zivic/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT
		 Subject: NDA-Oracle Corporation

At the request of George Zivic, I am attaching our proposed form of
Non-Disclosure Agreement.  Please call me at 713/853-3399 or Leslie Hansen,
Senior Counsel, at 713/835-6121 if you have any comments or questions.


To all,
	We have expanded equity trading into the European Markets.  Along with that, you will see an increase of executing broker agreements that specialize in foreign equities.  We plan on executing a broker agreement with Metzler Capital Markets for the purposes of order flow and specialty in Italian equities.  Currently no documentation is required and we would still clear all transactions with our existing Primebrokers, Goldman, Morgan Stanley and Bear Stearns.  In addition, Metzler clears their transactions through Paribas Milan.

Thanks,
Theresa


fyi
----- Forwarded by Steven J Kean/NA/Enron on 11/16/2000 05:57 AM -----

	Shelley Corman
	11/15/2000 08:58 AM

		 To: Steven J Kean/NA/Enron@Enron, Vicki Sharp/HOU/EES@EES, Drew
Fossum/ET&S/Enron@ENRON, Maria Pavlou/ET&S/Enron@ENRON, Michael
Moran/ET&S/Enron@ENRON
		 cc:
		 Subject: Mkt Affiliate Implications: Reorganization of Houston and Omaha
Facilities Management Responsibilities

Enron Energy Services is presently a marketing affiliate of several of the
Enron pipelines because EES: (1) buys/sells gas; and (2) holds transport
contracts on our pipelines.

Under the FERC's standards of conduct, the pipelines cannot: (1) share
transportation information or shipper information with EES; (2) must function
independently and keep separate books and records.  Generally, I don't see
the FERC having any problem with mechanical, electrical, air-conditioning
types of services.  However; there are 2 specific concerns that arise with
respect to the described arrangement under the FERC's marketing affiliate
standards of conduct:

1. Records -- FERC has ruled that giving a marketing affiliate "access" to
transportation and shipper records (including something as simple as file
room access) is deemed to be impermissibly sharing the information with a
marketing affiliate in violation of the standards. Thus, it seems to me that
EES will explicitly not be able to perform any records management function
for NNG, TW or NBPL.

2. Billing -  FERC scrutinizes intercompany charges carefully.  In a recent
Kinder-Morgan consent order, the FERC used payroll and intercompany charge
records to make the case that the pipeline and marketing affiliate did not
operate separately.  It would be helpful if any EES facility management
charges/allocations come from Enron Facility Services (not EES) --  leaving
us room to argue that the facility management subsidiary involves separate
functions and staff than the EES subsidiary that is a marketing affiliate.

	From:  Steve Kean & Bill Donovan                           11/14/2000 06:36 PM

Sent by: Enron Announcements
To: All Enron Houston
cc:

Subject: Reorganization of Houston and Omaha Facilities Management
Responsibilities

Responsibility  for daily operations of building support services in the
Enron Building, Houston leased offices, and Two Pacific Place (Omaha) will be
transitioning from Corporate to Enron Energy Services (EES) by year-end.  The
areas affected include facility operations and maintenance of mechanical,
electrical, and air-conditioning systems; mail delivery;  housekeeping;
food, copier, and records services.

This transition of services, as presently managed by Enron Property and
Services Corp. (EPSC), is designed to optimize value to Enron,s Business
Units by leveraging facility management businesses now offered by EES to
their commercial customers.  EPSC staff having administrative responsibility
for these services will report to Enron Facility Services, a subsidiary of
EES,s Global Energy Services group led by Daniel Leff, President and CEO.

EPSC is responsible for Enron,s internal real estate and office development
needs, including leasing, space allocations and facility planning, project
and construction management, furniture systems, and office relocation.  EPSC,
in its development role, remains a part of Enron Corporate Administration
Services (ECAS) along with Corporate Security and the Aviation Department,
reporting to Bill Donovan, Vice President, Corporate Administrative Services.

This alignment of responsibilities offers the opportunity for EPSC to focus
resources on effective utilization of our existing office space assets and
managing the development of Houston,s new Enron Center Campus project.


Carol:

I would prefer to go to them with all the  issues at one time.  If you have
any more issues you would like us to address, please forward and we can
approach sureties all at once.  If there are no more issues from you/ENRON
please advise and we will go to sureties now.

THX

Bill Oldham
Director, Insurance Risk Management
Reliant Energy Incorporated
Telephone No.713/207-3131
FAX No. 713/207-3251
email:    bill-oldham@reliantenergy.com

                    Carol.St.Clair
                    @enron.com            To:     boldham@reliant.com
                                          cc:
janet-greene@reliantenergy.com, Edward.Sacks@enron.com
                    06/05/01 09:04        Subject:     Re: Update
                    AM

Bill:
Thanks for the information.  I need to take a closer look at Janet's
language, particularly the "null and void" language to make sure that it
covers all possible events of default under the Master Agreement.  As to
the Texas law issue, our ability to get comfortable from a legal standpoint
will in large part be dictated by this issue.  Is there anyway to get more
certainty on this with the sureties?  I understand that you don't want to
go to them multiple times but this is a key issue for us.  Let me know what
you think.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

                    boldham@relia

                    nt.com               To:     carol.st.clair@enron.com

                                         cc:     jkgreene@reliant.com

                    06/04/2001           Subject:     Re: Update

                    03:35 PM

Carol:

The attached two e-mails are in response to your inquiry of 6-1-01.  If you
have any questions, let me know.

Bill Oldham
Director, Insurance Risk Management
Reliant Energy Incorporated
Telephone No.713/207-3131
FAX No. 713/207-3251
email:    bill-oldham@reliantenergy.com
----
----- Forwarded by Bill Oldham/ADM/HouInd on 06/04/01 10:19 AM -----

                    Michael_Herrod@a
                    rs.aon.com              To:     boldham@reliant.com
                                            cc:     Dan_Burton@ars.aon.com,
John_Rathmell@ars.aon.com,
                    06/04/01 09:59          Kevin_Sparks@ars.aon.com,
Margaret_Buboltz@ars.aon.com,
                    AM                      Margaret_Gibson@ars.aon.com
                                            Subject:     Re: Update

In my opinion, the wording suggested by Janet Green should be acceptable.
We
will have to have this wording formally approved by the surety companies
prior
to issuance.  I would like to avoid approaching the sureties until all
questions
have been addressed and all changes have been made.  In regards the bonds
being
subject to Texas law, I do not see that as being a problem.  We will
address
that with the sureties along with other potential changes.

In response to previous email, neither Dan nor I know of an attorney that
would
be willing or able to write an opinion in regards the applicability of the
Appleton Law.  As discussed during the meeting, this law has nothing to do
with
the viability of an exisitng surety bond.  If a surety issued a bond that
was
later found to be in violation of Appleton, they would be fined by the
State of
New York.  It does not make the bond invalid.  MJH

----- Forwarded by Bill Oldham/ADM/HouInd on 06/04/01 07:32 AM -----

                    Janet K Greene
                                         To:     Bill
Oldham/ADM/HouInd@HouInd
                    06/03/01 05:23       cc:
                    PM                   Subject:     Re: Update(Document
link:
Bill Oldham)

What if we said:  "if the
Principal shall promptly and faithfully perform its obligations under the
Confirm, which is a part of and governed by the Master Agreement, then this
obligation shall be null and void"

With respect to her second point, what if we again said "an Event of
Default has occurred under the Confirm, which is a part of and governed by
the Master Agreement"?

I think she is trying to clarify in the language that the bond can be
called for an Event of Default under the Master Agreement, which could have
nothing to do with the Confirm - - - which is factually correct.

Janet K. Greene
Reliant Resources, Inc.
1111 Louisiana, Suite 4300
Houston, TX 77002
713-207-5732
fax: 713-207-0141
jkgreene@reliant.com

                    Bill Oldham
                                         To:     Carol.St.Clair@enron.com
                    06/01/01 09:27       cc:     Edward.Sacks@enron.com,
janet-greene@reliantenergy.com,
                    AM                   Wendy.Conwell@enron.com, Bill T
Hamilton/TTG/HouInd@HouInd, William
                                         Waller/ADM/HouInd@HouInd, Rex
Clevenger/ADM/HouInd@HouInd
                                         Subject:     Re: Update(Document
link:
Janet K Greene)

Carol:

Thankyou for the attached.  I believe the governing law for each issuing
surety will be the law where the surety is domiciled, but let me do some
checking and confirm this.  Also, will get back to you on your comments Re
the language in our recommended bond form...probably Monday or Tuesday next
week.  Thanks for your continued efforts in this matter.

Bill Oldham
Director, Insurance Risk Management
Reliant Energy Incorporated
Telephone No.713/207-3131
FAX No. 713/207-3251
email:    bill-oldham@reliantenergy.com

                    Carol.St.Clair
                    @enron.com            To:
bill-oldham@reliantenergy.com
                                          cc:
janet-greene@reliantenergy.com, Edward.Sacks@enron.com,
                    06/01/01 09:02        Wendy.Conwell@enron.com
                    AM                    Subject:     Update

Bill:
I spoke with our outside counsel yesterday and we have some more follow up
work that we need to do on our side.  One issue that may be of some
importance to us in our analysis is determining what the governing law of
the surety bond will be for each issuer, and more importantly, whether we
can have the bonds governed by Texas law.  Can you answer this for me?

Also, with respect to the form of the bond itself, as we mentioned at the
meeting, the language in the third paragraph which states that "if the
Principal shall promptly and faithfully provide the Firm energy as defined
in the Confirm, hen this obligation shall be null and void," does not work
for us.  Has anyone come up with alternative language?  Finally, with
respect to the Notice of Claim, we would like for the certification to say
something like, "an Event of Default has occurred under the Master
Agreement" rather than tie it to a specific default under the Confirmation.
Does that work for the sureties?

I look forward to hearing from you.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Rebecca,

Per our conversation on Friday, I have run some scenarios using the original assumptions, and the revised assumptions.  Please hold off on communicating your findings, until we can talk.  Thanks!

E

 -----Original Message-----
From: 	Weldon, V. Charles
Sent:	Monday, June 18, 2001 10:27 AM
To:	Walker, Rebecca
Cc:	Cross, Edith
Subject:	HSC Curve

Rebecca,

Per your request, I have attached the HSC curves as of Friday's close.

Thanks,

Charlie


Summary

Though this conference was scheduled to review all issues related to El Paso's capacity allocation method (including those in the pipeline's Order 637 proceeding), and with two complaints filed this summer regarding problems with the pipeline's allocation, major substantive issues were not covered at this conference.  For instance, the battle between Full Requirements (FR) shippers and Contract Demand (CD) shippers came up marginally, but not in terms as substantive as the proposed conversion of FR shippers to CD contracts.

Procedurally, there was also no decision on whether to proceed with a hearing, merits decision from the Commission or settlement, though it looks like a merits decision is the likely avenue for a decision.  Staff did not discuss case merits or ask pointed substantive questions.

Allocation Studies (Models)

El Paso opened the conference with a presentation/interpretation of seven capacity studies they have done to illustrate how its allocation proposal (March 27) would allocate the system's receipt and delivery points based on different scenarios.  For nominations, receipt and delivery points were specified and ranked by shippers, and the model used 20 pools.  The scheduling model looked at where constraints occurred (based on those shipper-supplied preferences), solved the largest constraints first, then ran second and third iterations to complete allocation.

There were questions on the studies, what they show, what the assumptions are, etc., and in the end shippers believe they need information not shown by the completed studies.  Shippers have requested six more allocation studies, showing possible impacts of seasonalization (winter and summer) and the difference between CD and Full Requirements Coincidental and Non Coincidental Peaks (winter and summer, 1995 - 2000).

El Paso interprets its studies as showing that the proposed capacity allocation method is workable, and in fact results in 247 MMcf/d of unallocated capacity (230 MMcf coming from the Line 2000 expansion proposal, and an extra 17 MMcf).  Shippers were skeptical of the "slack capacity" finding.

Other Issues

?	Pooling: There was a small amount of discussion on the impact of moving from six to 20 pools.  It was noted that this should be addressed with Order 637 issues, expeditiously after capacity allocation method is resolved.

?	FR vs. CD: Though there were some FR vs. CD shippers discussions, they did not reflect the battle we see going on in the two complaints filed this summer by the TX, NM and AZ shippers (FR) and Aera Energy (CD shippers).  There was also no mention of converting FR shippers to CD service.  Note: never mentioned were the CD and FR complainants' proposals that El Paso (1) dedicate currently proposed expansions to existing shippers or (2) requiring mainline system expansion for existing service (RP01-484 and 486).

?	Release shippers:  Shippers contracting for released capacity were concerned about how they would be allocated, as well as those shippers picking up turnback contracts from the pipeline (which would have receipt and delivery points already allocated).

?	Receipt Point Designation:  The question was asked if shippers could designate specific receipt points rather than pools.  When asked what Commission policy is on pools vs. receipt points, both shippers and Staff clarified that they are neither mutually exclusive nor to serve as substitutes for one another - both should be available.  However, Staff noted that in the flexibility vs. reliability debate, it could be argued that El Paso should return to receipt point designation to maintain reliability.

Procedure Going Forward

The primary issue here ended up being procedural.

The procedural schedule is as follows:
?	El Paso further studies and answers to questions posed at conference or in writing:   Sept. 24
?	Initial comments (on all capacity allocation issues and procedural recommendations): Oct. 15
?	Reply comments:  Oct. 26


i didn't say we were having a party, i said you were having a party.  i will
spread the word at the analyst happy hour tonight.  i will let them knwo that
you will provide drinks and food.  does susan know about your party?


> -----Original Message-----
> From: Donny Cox
> Sent: Thursday, October 05, 2000 2:32 PM
> To:   Rob Adams
> Subject:  FW: Do Not take this guy hunting!
>
>
>  <<AHMED.MPEG>>

 - AHMED.MPEG


-----Original Message-----
From: Harry.Kingerski@enron.com [mailto:Harry.Kingerski@enron.com]
Sent: Monday, April 23, 2001 12:18 PM
To: jbennett@gmssr.com; sstoness@enron.com
Subject: Exhibits 1 and 2 - HK Testimony

(See attached file: CAhktestimonyExh1.xls)(See attached file:
CAHKtestimonyExh2a.xls)

 - CAhktestimonyExh1.xls
 - CAHKtestimonyExh2a.xls


---------------------- Forwarded by John J Lavorato/Corp/Enron on 10/17/2000
01:25 PM ---------------------------

	From:  Jeffrey C Gossett @ ECT                           10/17/2000 09:45 AM

To: John J Lavorato/Corp/Enron@Enron
cc:

Subject: Systems - ERMS

John -

Again,  we are having "big time" systems issues.  While we are having the
usual length of time issues (a few people were here past midnight last
night), the issues that occured last night are much more serious than in the
past.  The system brought through totally inaccurate information on a few
books.  (Positions,  value,  etc.)  Luckily, these errors were all caught
last night,  but if a less experienced person had been on those books,  it
could have been a disaster.  (Traders getting incorrect positions and p&l and
interest rate and credit getting incorrect numbers.)  I have contacted those
in ERMS that need to be involved,  but I would appreciate it if you could
provide additional support to this effort.

Thanks,

Jeff


fyi
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/16/2001 08:58
AM ---------------------------
From: Sheila Tweed@ECT on 05/16/2001 08:49 AM
To: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay Mann/Corp/Enron@Enron

Subject: Re: GE- Standard Domestic Contract- Need your help

Yes. Let's do 1:30 for an internal call.  I'll get Suzanne to send out the
dial-in instructions.  Let's make sure that the GE guys know NOT to call in.
Thanks!.  I know that John Schwartzenburg will be late since he is
TurboParking until 2 pm but let's proceed at 1:30.

	Scott Dieball@ENRON_DEVELOPMENT
	05/16/2001 07:15 AM

		 To: Sheila Tweed/HOU/ECT@ECT
		 cc: John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay
Mann/Corp/Enron@Enron@ECT, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Re: GE- Standard Domestic Contract- Need your help

Read your notes re scheduling a call w/ or w/o GE.  From John's and my
perspective, it seems that we should first have an internal call re the
consolidation of our assignments from weeks past  into Peter's draft contract
and then send to GE for their review and follow up call either later this
week or next.  Steve Swift is OK with this approach.

At the moment we seem to be knee deep w/GE and Owner on Arcos and suspect
that 9:30 CST (3:30 London time) will be difficult for us to call in.
Instead, 1:30 CST would work better for us.

If this works for the Houston gang could you let us know soonest and we will
let Mike and Steve know as well.

	Sheila Tweed@ECT
	05/15/2001 04:18 PM

		 To: John G Rigby/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Kay
Mann/Corp/Enron@Enron
		 Subject: Re: GE- Standard Domestic Contract- Need your help

Would you all be in a posiotion to get together tomorrow morning at 9:30 am
Houston time to review the issues list and  talk about how we get to the end
of this process with GE.  We immediately need to start the drafting of the
Longview turbine contract and I'd like to see if we are close enough to get
that started.  Scott, today the extension to the Agreement in Principle
expires and we need to extend.  Can you tee this up with Steve Swift?  Our
meeting tomorrow will be in lieu of the regularly scheduled GE call.  I'll
let them know we will call them later this week or we'll talk next Wednesday,
but I would like to get through whatever we need to in order to get the
Longview Turbine Contract going.
I've talked to John Schwartzenburg about this and he is available tomorrow
morning.


John,

As far as supplying ENA, there are opportunities to do deals immediately:  ENA continues to supply all of its in-the-money contracts by purchasing energy from counterparties on a pre-pay basis.  The contract is under the WSPP.  Call Mallory (3811) to sell in California, Crandall (3815) or Scholtes (3807) for NW, and Salisbury (3910) for SW.  If you have any legal questions, call Dale Rasmussen (8863).

Best,

Steve

-----Original Message-----
From: Dunton, Heather
Sent: Monday, January 28, 2002 9:54 AM
To: Hall, Steve C. (Legal)
Cc: 'john.malowney@neg.pge.com'
Subject: FW: National Energy Group's (NEG) preferred contracts

-----Original Message-----
From: Malowney, John [mailto:john.malowney@neg.pge.com]
Sent: Friday, January 25, 2002 4:50 PM
To: Dunton, Heather
Subject: FW: National Energy Group's (NEG) preferred contracts

Heather; I attempted to e-mail this to Steve Hall but it was returned, would
you mind forwarding this to him.  Thanks,  John.

>  -----Original Message-----
> From: 	Malowney, John
> Sent:	Friday, January 25, 2002 4:47 PM
> To:	'Steve.Hall@enron.com'
> Cc:	Hein, Jennifer
> Subject:	National Energy Group's (NEG) preferred contracts
>
> Steve; attached is NEG's preference for both physical and financial
> transactions.  As I mentioned to you earlier, NEG is interested in
> "establishing" contractual relations with UBS/ENA  in an attempt to assist
> in the meeting of your future supply obligations.  I know Monday or so
> you'll be giving me a call with your new DBA but I wanted to provide you
> with this in the meantime.

>
> I have copied Jennifer Hein (Legal Council) in addition to including her
> contact information at the bottom of this e-mail, who has agreed to help
> facilitate the negotiations.  We look forward to hearing from you and
> hopefully working together in the not so distant future.
>
> Thanks,  John
>
> Here is the latest EEI Cover Sheet, for physical trades:
>  <<Cover Sheet 012202 without Downgrade Event.doc>>
>
> And here are the latest ISDA forms, for financial trades.
>  <<Power Schedule w-o fx  090401.doc>>  <<Paragraph 13 012502 clean.doc>>
>
> Jennifer A. Hein
> Assistant General Counsel
> PG&E National Energy Group
> Telephone: 301 280 6326
> Facsimile: 301 280-6060
>

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.


Looks good.  Is the co2 reduction only 10.5 tons or is it some multiple, like
10.5 thousand tons?

	Peggy Mahoney@EES
	11/30/2000 12:31 AM

		 To: Cedric Burgher/Corp/Enron@ENRON
		 cc: Mark Koenig/Corp/Enron@ENRON, Paula Rieker/Corp/Enron@ENRON, Steven J
Kean/NA/Enron@Enron, Mark Palmer/Corp/Enron@ENRON, Karen
Denne/Corp/Enron@ENRON
		 Subject: Macerich

In response to your TCV question - it is about $280 million, but
Macerich does not want the number released publically.  Also,
below is the final draft which reflects changes from the group.
We are hoping to release by 9am central time today - Thursday.
Still waiting on one person from Macerich.

Thanks!
Peggy


We are making a number of significant organizational changes.  These changes
are intended to accomplish four key objectives:

First, we need to realign all our wholesale businesses around the successful
business model developed over the last decade in North America and Europe.
This model relies on extensive physical and transactional networks built
around a relatively small strategic asset position.

Second, we need to significantly streamline corporate reporting
relationships.  Particularly with Joe Sutton,s departure, the ability to
directly manage the day-to-day activities of 15 independent business units
has become increasingly difficult.

Third, we need to accomplish these changes without, in any way, compromising
the ongoing profitability of all our businesses and without delaying or
hindering our effort to monetize a significant portion of our lower-yielding
asset positions.

And fourth, as always, we need to take advantage of the reorganization to
redeploy our talent into our highest value opportunities.

ENRON WHOLESALE SERVICES

Today, we are forming Enron Wholesale Services (EWS) which will consolidate
our global wholesale businesses.  The closer alignment of our wholesale
businesses will accomplish the following: (1) enhanced communication and
coordination across business units, (2) more rapid deployment of people to
higher valued opportunities, (3) more effective prioritization of
opportunities across the wholesale business, and (4) more rapid extension of
Enron,s wholesale business model and capabilities into new industries and
markets.

Enron Wholesale Services will include our current North American, European
(including Japan and Australia), Global Markets, and Industrial Markets
operations, and will be expanded to include Enron,s Net Works business unit
as well as a new unit ) Enron Global Assets.  In addition, Enron,s merchant
businesses outside of North America and Europe will be integrated into this
new structure as described below.

Mark Frevert, currently Chairman of each of our wholesale units, will assume
the role of Chairman and CEO of Enron Wholesale Services.  Greg Whalley,
currently Chairman and CEO of Enron Net Works, will join Mark in the Office
of the Chairman as President and Chief Operating Officer.

Providing further impetus for these organizational changes, several of our
international business unit leaders have elected to move into new leadership
positions:

Rebecca McDonald, currently CEO of Enron APACHI, will join EWS as President
and CEO of Enron Global Assets. Enron Global Assets will have responsibility
for managing all of Enron,s existing energy asset portfolio outside of North
America and Europe.  Joining Rebecca in the Office of the Chairman as COO
will be Jim Hughes, currently COO of Enron APACHI.  Rebecca and Jim will
report to the EWS Office of the Chairman.

Sanjay Bhatnagar, currently CEO of Enron India, has joined EBS as CEO for the
Middle East and Asia region.  Sanjay will be responsible for building our
broadband business in this region and the current EBS team in this region
will report to Sanjay.  In this role, Sanjay will report to the EBS office of
the Chairman.  In addition, Sanjay will continue to remain responsible for
Enron,s wholesale energy business in India and will transition this business
into Enron Global Assets in the near future.

Diomedes Christodoulou, currently Co-CEO of Enron South America, has joined
EBS as Chief Commercial Officer.  Diomedes will be located in London and will
focus his origination activities on global opportunities, with near term
attention to the wholesale and enterprise sectors.  Diomedes will report to
the EBS Office of the Chairman.

Jim Bannantine, currently Co-CEO of Enron South America, will be joining EES
to lead EES, commercial efforts outside North America and Europe.  In order
to ensure a smooth transition for our South American businesses and to
facilitate our asset sales activities, Jim will remain in South America for
at least the next several months and continue to serve as CEO of Enron South
America.  Throughout the transition, Jim will report to Cliff Baxter and to
the Office of the Chairman of Enron Wholesale Services.  Following the
transition, Jim will join EES.

In addition to these changes in our international asset operations
activities, we are making the following changes in our merchant wholesale
businesses and the commercial support functions:

Enron Net Works
Louise Kitchen will assume Greg,s previous responsibilities as President and
CEO of Enron Net Works, reporting into Mark and Greg.

Enron Americas
Concurrent with the transfer to Enron Global Assets of responsibility for
operating Enron,s South and Central America asset base, all trading,
marketing, and new asset development activities in these regions will report
into a new entity, Enron Americas.  Enron Americas will have responsibility
for all wholesale merchant businesses across North, Central and South
America.  Dave Delainey, President and CEO, and John Lavorato, Chief
Operating Officer will comprise the Office of the Chairman for Enron
Americas.

Enron Europe
The Enron Europe organization, which includes Enron,s businesses in Australia
and Japan, and Enron Metals, remains unchanged under the leadership of John
Sherriff, President and CEO, and Michael Brown, Chief Operating Officer.

Enron Global Markets
Enron Global Markets, under the leadership of Mike McConnell, President and
CEO, and Jeff Shankman, Chief Operating Officer, will continue to have
responsibility for Enron,s Middle East and LNG operations.  With the
exception of Ecoelectrica in Puerto Rico, all operating power plants and
associated personnel in the Caribbean and Central America will transfer to
Enron Global Assets.  Enron Global Markets will also continue to manage the
commodity businesses in crude and products, coal, weather, insurance,
equities, interest rates, foreign exchange, and agricultural products.

Enron Industrial Markets
Enron Industrial Markets, organization, under the leadership of Jeff McMahon,
President & CEO, and Ray Bowen, Chief Operating Officer, remains unchanged.

Commercial Support for EWS
The commercial support functions for EWS will remain with, and be managed by,
the individual business units.  We are creating no incremental overhead in
the creation of EWS, and in fact hope to reduce our operating costs by more
efficient utilization and sharing of resources across EWS.

To this end we have asked several people to take on an expanded role across
EWS in addition to their ongoing roles within their business units.  These
newly defined roles are as follows:

Mid and Back Office Operations ) Sally Beck will lead Mid and Back Office
Operations across EWS.  These services will become part of Enron Net Works,
with Sally reporting to Louise Kitchen and Rick Causey, Executive Vice
President and Chief Accounting Officer.  This alignment creates a coordinated
services organization with IT and e-commerce platforms to support the
wholesale businesses and to maximize opportunities to commercialize these
services.  Mid and Back Office services for all commercial activities will
continue to be organized with dedicated operations controllers responsible
for specific commodities and/or geographic locations.
Legal ) Mark Haedicke will serve in the role of General Counsel for EWS.
Regulatory and Government Affairs ) This function will remain organized on a
regional basis.  Rick Shapiro will support all EWS businesses operating in
the Americas, and Mark Schroeder, who is based in London, will support all
European and Eastern Hemisphere operations.  Rick and Mark will also continue
to support all other Enron businesses operating in their respective regions
and will continue to report to Steve Kean, Executive Vice President and Chief
of Staff.
Public Relations ) This function is also organized primarily on a regional
basis.  Eric Thode will have responsibility for North American activity,
Enron Net Works, and Enron Industrial Markets.  Jackie Gentle will continue
in her role for Enron Europe (including Japan and Australia) and John Ambler
will have responsibility for activity outside North America and Europe as
well as providing support for Enron Global Markets and Enron Global Assets.
These individuals will also continue to have a split reporting relationship
to Mark Palmer, Vice President of Communications.
Business Analysis and Reporting ) Wes Colwell will expand his role to cover
EWS reporting in addition to his current role in North America.

Attached for your review is an organization chart for Enron Wholesale
Services which summarizes the changes described here.  As this organization
continues to evolve we will keep you informed of any additional changes.

ENRON GLOBAL EXPLORATION AND PRODUCTION
AND ENRON WIND

 As part of our company-wide initiative to examine our assets and investments
around the world, we are considering a variety of options with respect to
EGEP and EWC.  As a consequence, we are putting these businesses under Cliff
Baxter,s direction.  Jeff Sherrick, CEO of EGEP, and Jim Noles, CEO of Enron
Wind, will report to Cliff.

CORPORATE STAFF

 We are consolidating the corporate staff functions: Human Resources,
Government Affairs, Public Relations/Communications and Administration.  In
that regard, Cindy Olson, Executive Vice President of Human Resources and
Community Relations, will report to Steve Kean, Executive Vice President and
Chief of Staff.

COMMITTEE STRUCTURE

 In light of the increased leadership opportunities created by Enron,s
growth, the Executive Committee will be expanded to include more of our
business unit leaders.  The primary role of this committee will continue to
be the communication of relevant information across Enron,s businesses and
the coordination of activities across those businesses.  We will also be
drawing on this group to lead company-wide initiatives such as the
performance review process and evaluation and creation of new businesses.
The Executive Committee membership is shown on the attached list.

 We are also forming a new committee ) the Enron Corporate Policy Committee.
This group will be responsible for overall corporate policy, personnel
management policy and corporate strategy.  The Enron Corporate Policy
Committee membership is also shown on the attached list.

 We are confident that these changes will align our talent and our capital to
our highest return opportunities.  Please join us in congratulating and
supporting all of these individuals in their new roles.


Thanks but I will pass for now.  I wouldn't mind looking at some muni's with
shorter maturity dates though.  I am concerned about long-term yields
increasing which would mean bond prices decreasing.  Doesn't it make since to
go with shorter maturity dates ri8ght now?

"Hill, David " <David.Hill@morganstanley.com> on 05/04/2001 10:46:00 AM
To: "Stan Horton (E-mail)" <stanley.horton@enron.com>
cc: "Dingle, Susan " <Susan.Dingle@morganstanley.com>

Subject: Tax Free Opportunity

The Muni desk called to say they are seeing a blip in the market and are
seeing  5 1/4% at par around 2021 to 2025. They think those rates won't
last.

They called about your portfolio because your ladder is is thin in those
years.

You have some cash. If you have an interest give me a call. I can fax your
maturity concentration schedule  to you if you need it. I didn't want to
send your portfolio info by fax  without your permission.

David

**** Important Notice to Recipients ****
It is important that you do not use e-mail to request, authorize or effect
the purchase or sale of any security or commodity, to send fund transfer
instructions, or to effect any other transactions.  Any such request,
orders, or instructions that you send will not be accepted and will not be
processed by Morgan Stanley.
****************************************


The attached details a term sale to Air Products behind Puget Sound Energy.  The transaction is to be confirmed by the Houston office using the mutually agreed upon Confirmation Letter.  Air Products will sign the negotiated EEI at the same time.  If anyone has any questions please let me know at your earliest convenience.  Thanks for everyone's assistance.  John


fyi...
-----Original Message-----
From: Cantrell, Rebecca W.
Sent: Friday, September 28, 2001 4:37 PM
To: Calcagno, Suzanne; Concannon, Ruth; Fletcher, Brenda H.; Lamadrid, Victor; McMichael Jr., Ed; Muhl, Gil; Olinger, Kimberly S.; Superty, Robert; Tate, Paul; Townsend, Judy
Cc: Pharms, Melinda; Gomez, Julie A.; Montovano, Steve
Subject: FW: Transco's 9-28-01 Market Link Expansion Project
Importance: High

FYI.  Transco plans to put Market Link into service Nov. 1, and these are the tariff revisions to reflect the incremental rate.

-----Original Message-----
From: Transco Tariff [mailto:Transco.Tariff@Williams.com]
Sent: Friday, September 28, 2001 1:12 PM
To: Cantrell, Rebecca W.
Subject: Transco's 9-28-01 Market Link Expansion Project
Importance: High

Attached is a copy of the above referenced filing Transco has made at FERC today.


FYI.
---------------------- Forwarded by Patti Thompson/HOU/ECT on 03/01/2001
10:28 AM ---------------------------
From: Vanessa Schulte/ENRON@enronXgate on 03/01/2001 10:19 AM
To: Mary Solmonson/ENRON@enronXgate, Patti Thompson/HOU/ECT@ECT
cc:
Subject: ASE Link

The "Outsourcing ASE Studio Workshop" link is on the GRO Intranet site under
Reference Information.

http://gro.corp.enron.com/


Thanks!

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


New Enron Members,

Like you, we find working at Enron to be exciting.    Many of you have asked
us to help you better understand the essentials of working in this dynamic
environment.     Your HR Team would like to answer your questions and help
you prepare for your career at Enron.

We invite you to attend a new hire focus session on:

Thursday, March 8th from 10 AM to 12 Noon
at the
2 Allen Center Conference Room on the 12th Floor.

We will be facilitating a presentation for you on the following topics:

The Enron Culture
What does success look like at Enron?   What you need to know early on.
The PRC process and how it works
Open Question and Answer session

We'll see you there!
Your HR Team


-----Original Message-----
From:  "Cagle, Donna" <DCAGLE@mariner-energy.com>@ENRON
[mailto:IMCEANOTES-+22Cagle+2C+20Donna+22+20+3CDCAGLE+40mariner-energy+2Ecom+3
E+40ENRON@ENRON.com]
Sent: Thursday, June 07, 2001 1:43 PM
To: Edison, Deborah J.
Cc: Melendrez, Jesus
Subject: Mariner Management Meeting Minutes

 <<6-6-01.doc>>  <<SUMMARY.xls>>

Donna M. Cagle
Executive Administrator to President & CEO
Mariner Energy, Inc.
580 WestLake Park Blvd., Suite 1300
Houston, TX  77079
281/584-5511 (phone)     281/584-5515 (fax)
dcagle@mariner-energy.com

 - 6-6-01.doc
 - SUMMARY.xls


why not?  you don't like those things?  you get penis straws and everything.


Hey:
Sorry I've taken a few days to respond.  Just the more I think about it, the
worse of an idea it seems for both of us.  There is nothing good that can
come of it either professionally or personally.  I still regard you as a good
friend.  Nothing has changed that nor do I think we need to act weird around
each other going forward.  Something I think we both wanted to try and we
did.  Maybe best left there though.
John


Pls put on my calendar.
-----Original Message-----
From: Nicolay, Christi L.
Sent: Wednesday, August 15, 2001 6:12 AM
To: Noske, Linda J.; Lindberg, Susan
Cc: Steffes, James D.
Subject: FW: Midwest Update Meeting

Linda --please calendar.  Also Susan you should attend if possible.

-----Original Message-----
From: Dalton III, Oscar
Sent: Tue 8/14/2001 5:58 PM
To: Baughman, Edward D.; Sewell, Doug; Valderrama, Larry; Clynes, Terri; Abler, William; Carroll, Lex; Kelly, Mike E.; Ratliff, Beau; Meyn, Jim; Trefz, Greg; Nicolay, Christi L.; Sturm, Fletcher J.
Cc: Will, Lloyd; Roan, Michael
Subject: Midwest Update Meeting

Please plan on attending a meeting on Thursday, 8/23/01 at 11:30 a.m. to 1:00 p.m. for a presentation by Lloyd Will (location to be announced later).  Lloyd as agreed to present the PJM model of LMP and congestion and how these issues will soon impact the Midwest Markets.

Additionally, I have invited Mike Roan to present a Midwest RTO update.

This will be an excellent opportunity to come up to speed on a series of issues that will have significant impact to our region.

Lunch to be provided

Thanks

Oscar Dalton


Both of these deals were broker errors. Following are the corrections and
deal numbers:

# 457428
Mike Swerzbin
buying Transalta
117.50
25 MW
Dec
Mid C
On Peak

#457432
Mike Swerzbin
buying Williams
84.00
25 MW
Q1
NP-15
On Peak

Thanks for the heads up. Let me know if there's anything else.

Kate

Kerri Thompson@ENRON
11/13/2000 02:17 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: natsource check out

missing 2 deals

trader?
buying constellation
117.50
25 mw
dec
mid c
on peak

trader
buying constellation
84.00
25 mw
Q1
np-15
on peak


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 01/20/2000
10:39 AM ---------------------------

troy_a_benoit@reliantenergy.com on 01/20/2000 10:36:49 AM
To: Ami Chokshi/Corp/Enron@ENRON
cc:

Subject: 21ST CHANGES

(See attached file: egmnom-Jan.xls)

 - egmnom-Jan.xls


Hi Everyone,

DON'T FORGET!  Catered dinners all this week!  From 7:30 - 8:15 pm in the
Wells Fargo Room.

Tonight's catered dinner features....drum roll...Mediterranean Delight!

See you there,

Diane


Here are the issues I see with their draft:

Does not allow for us to sell them power, only buy their power and sell to
others. This means that we can't sell them power until we get the full
contract in place.

Fuel transactions include fuel oil, and I thought we weren't managing fuel
oil.

Incentive fee (in main contract) defined to only include the sale of gas.

Doesn't include the language we need for internal approvals.

Payment section doesn't address payment for sale of power to them from the
market.


We have two positions open for Trading Assistants with UBSW Energy.  One will work for Jeff Richter and Chris Mallory on the Cash Trading desk and one will work for me and Mike Swerzbin on the Term Trading desk.

In short, the Trading Assistant helps the traders run EOL markets, provides analytical support, prepares daily market summaries, reviews trade press for pertinent information, performs checkouts with brokers and counterparties, assists in pricing new deals.

Please send an e-mail to Amy Fitzpatrick by noon on Tuesday expressing your interest.  This position is open to both Enron and UBSW employees.

Tim Belden


Over the past several months, we have reviewed in detail our trading
contracts and the companies through which we conduct our trading business in
California.  In order to reduce Enron's non-market risks ( e.g. legal, credit
and regulatory) in the volatile commodity markets in California or any "
future California", we propose the following changes:

1.    Mandatory Uniform Set-Off Provisions in All Trading Contracts for All
Commodities -- set-off language varies commodity by commodity in trading
contracts.  Set-off is one of the most critical tools available to Enron in a
major default situation and it is critical to have set-off language and to
have it be uniform commodity to commodity so that Enron can get the best
advantage from set-off and not just the least common denominator.

2.     Master Netting Agreements For Appropriate Counterparties With Multiple
Masters With Significant Opposite Exposures -- where it is necessary to have
multiple masters with a counterparty, a "bridge" should be put in place
between the masters whenever there is significant opposite exposures under
the two or more masters.

3.     Merge EPMI into ENA -- power trades are done through EPMI.  Merging
EPMI into ENA and conducting power trades through ENA is much more efficient
from both a credit and legal point of view.

4.     No Automatic Termination for a Bankruptcy Event -- in the PGE/SCE
situation, it should be the non-defaulting party's (Enron in this case)
option to terminate rather than an automatic termination on "inability to pay
debts as they become due".

Let me know if you have any other proposed changes to our trading contracts
or entities through which we conduct our trading.  I believe these changes
will (i) improve efficiency, (ii) reduce risks, (iii) develop the opportunity
to do more business with certain counterparties and (iv) substantially
improve Enron's position in the next California type market.  The long range
goal is to conduct as much as possible of the trading business through a
single entity and a single or limited number of standardized agreements.


?
Dear Harry,
?
Hi How are you.
?
Long time since heard from you.
?
Things are fine at my end. I became father for the second time. A daughter
was born to us on 31st January. Both mother and baby are fine. Yet to
finalise a  name for her.
?
So how are you doing.? do reply
?
Love,
?
MUKUL MURARKA
?
?
?
?


First Union Securities, Inc.

Ms. Shackleton,

Attached find a revised draft ISDA Schedule, both a marked copy and a clean
copy, for your review.  We just made a few changes to the draft ISDA
Schedule to mirror the Schedule to the ISDA Master Agreement in place
between First Union National Bank and Enron North America Corp.  Please note
that we have added a Credit Support Annex as a Credit Support Document.
Could you please send a CSA Paragraph 13 in the form previously agreed in
the Enron North America Corp. ISDA Master Agreement.

 <<Schedule 7-20-01 vs. Ctpty draft Schedule.doc>> 	 <<Schedule
7-20-01.doc>>

Also, as the parties may enter into EITF-0019 compliant trades, we would
like to duplicate the current ISDA once we've agreed on the terms, then
delete the Set-off provision and Credit Support Annex from the ISDA and
execute this pared down ISDA to cover 0019 trades only.  We believe it would
be beneficial from a netting perspective to execute separate ISDAs to cover
0019 trades, on the one hand, and any other equity derivative trades which
the parties may enter into, on the other hand.  Could you advise if this is
satisfactory.

We look forward to hearing from you.

Thanks and regards,

Vijay K. Suchdev
Vice President
Equity Derivatives
First Union Securities, Inc.
Telephone: (212) 909-0951
Facsimile: (212) 891-5042
email: vijay.suchdev@funb.com <mailto:vijay.suchdev@funb.com>

This is for your information only and is not an offer to sell, or a solicitation of an offer to buy, the securities or instruments mentioned.  The information has been obtained or derived from sources believed by us to be reliable, but we do not represent that it is accurate or complete.  Any opinions or estimates contained in this information constitute our judgement as of this date and are subject to change without notice.  First Union Securities, Inc. (FUSI), or its affiliates may provide advice or may from time to time acquire, hold or sell a position in the securities mentioned herein.  FUSI is a
subsidiary of First Union Corporation and is a member of the NYSE, NASD and SIPC.  FUSI is a separate and distinct entity from its affiliated banks and thrifts.

 - Schedule 7-20-01 vs. Ctpty draft Schedule.doc
 - Schedule 7-20-01.doc


Ken

Thanks

Vince

Kenneth Parkhill@ENRON
02/16/2001 09:59 AM
To: "Bhalla, Tulika" <bhallat@wharton.upenn.edu>, "Chen, Vincent"
<chenvinc@wharton.upenn.edu>, "Rejtman, Jack" <rejtmanj@wharton.upenn.edu>,
"Mallik, Deepa" <mallikd@wharton.upenn.edu>, "Whitsel, Kimberly"
<whitselk@wharton.upenn.edu>, "Thorne, Heather" <hethorne@wharton.upenn.edu>,
"'Thomas'" <Thomas@wharton.upenn.edu>
cc: Vince J Kaminski/HOU/ECT@ECT, Larry Gagliardi/Corp/Enron@Enron
Subject: RE: research leads

Hello Team 1,

I spoke with Larry Gagliardi on the Crude/Refinery Products desk this morning
and he agreed to talk with you after 12:30 today or after 2:30 any other
weekday.  He is very familiar with the other platforms and should be a great
resource.  Larry suggested that you surf EOL to find names of power and/or
natural gas traders, and call them up.  Please let me know if you have
difficulty finding/contacting folks this way and I will see if I can help.

Larry's office number is 713-853-0543, and his email is
Larry.Gagliardi@enron.com.

good luck
ken


the market had to get to a price whereby these guys shut down.  there is just
not enough gas to allow everybody who wants to to burn it.  the elasticity of
demand is in the industrial sector.  million dollar question is have we
gotten to a high enough price whereby we end the year with gas in the ground
and deliverability to meet a late cold snap.  shutdown of processing,
distillate and resid switching, loss of industrial load...maybe we have.
good holidays,
john

slafontaine@globalp.com on 12/22/2000 07:11:26 AM
To: slafontaine@globalp.com
cc:
Subject: Plants Shut Down and Sell the Energy

Subject:  Plants Shut Down and Sell the Energy

Plants Shut Down and Sell the Energy
By Peter Behr
Washington Post Staff Writer
Thursday, December 21, 2000; Page E01
Kaiser Aluminum Corp. had planned to spend December making aluminum at its
giant smelters in the Pacific Northwest, run by electricity from the
Bonneville Power Administration's Columbia River dams. Then it saw a better
deal. With California desperate for power and electricity prices hitting
unheard-of peaks, Kaiser shut down its two U.S. smelters last week. It is
selling the electricity it no longer needs -- for about 20 times what it
pays Bonneville under long-standing contracts.
It is a measure of this winter's fuel crunch: Some big industrial firms in
energy-intensive sectors such as paper, fertilizers, metals and even
oil-field operations can make more money by selling their electricity or
natural gas than manufacturing their products. The shifts by such large
industrial consumers of energy -- described as unprecedented by analysts --
will free up more fuel for households and businesses this winter. But they
also are sowing seeds of potential problems next year. Shortages of aluminum
and fertilizer, for example, are likely to give another upward jolt to
consumer prices and further weaken the economy, analysts said.
"The fertilizer picture is particularly worrying us because we don't know
what they're going to use to grow crops with," said David Wyss, chief
economist at Standard & Poor's. Some economists have recently increased
their warnings about the damaging impact of this winter's heating bills on
an already weakening economy. Goldman Sachs analysts last week estimated
that gas heating bills will double this winter to more than $1,000 for a
typical U.S. household.
That and higher electricity prices will cost consumers $20 billion in higher
energy costs compared with a year ago, they estimated, cutting the expected
growth in the nation's economic output by one percentage point on an annual
rate in the first three months of next year. "Overall, the recent energy
price developments have thus added to the risk of a sharp economic
slowdown," the Goldman Sachs report concluded. Terra Industries Inc., in
Sioux City, Iowa, has closed three of its six U.S. ammonia plants, which use
natural gas as a main ingredient for fertilizer production. Like Kaiser, the
company realized it would be much more profitable to stop production in
December and sell the natural gas back to the market at current prices,
which are much higher than the price Terra was obligated to pay under its
existing December supply contract, said Mark Rosenbury, chief administrative
officer.
"We looked at these [current] prices and said, 'This is crazy,' " he said.
Terra hasn't disclosed the profit it will make selling its gas, but
Rosenbury said it would be "substantial."  In coming months, Terra's good
fortune could be reversed. It usually buys gas a month at a time, and the
prices for January delivery most likely will be well above its break-even
point. That would keep Terra's plants closed, Rosenbury said, but eliminate
the opportunity to sell the natural gas at a profit. "If this persists,"
Rosenbury said, "it's going to be a real problem."
He estimates that out of a total annual U.S. production capacity of 18
million tons of ammonia, about 4 million tons of production isn't operating
now. "Could we be short of fertilizer next spring? It's possible that
farmers will not have as much as they want," Rosenbury said. Royster-Clark
Inc., a Norfolk and New York City-based fertilizer manufacturer and
distributor, has shut down its one plant in East Dubuque, Ill.,
indefinitely, and 72 production workers will be laid off, beginning next
month. The story is the same -- natural gas prices are too high to justify
continued production. "We believe it's likely this is a speculative bubble
[in natural gas prices] that will burst and in a few weeks we'll be able to
buy gas at a more reasonable price, but that remains to be seen," said Paul
M. Murphy, the company's managing director for financial planning. A
continuation of high natural gas prices would likely shrink production and
raise fertilizer prices to a point that could affect farmers' decisions to
plant feed corn, he said. "It's sticker shock."
According to Wyss, if this winter remains unusually cold and natural gas
remains above $7 per million cubic feet -- double the level a year ago --
farm products could rise significantly a year from now and into 2002. In the
aluminum industry, several smaller producers have joined Kaiser, the
industry's No. 2 manufacturer, in closing down, noted Lloyd O'Carroll, an
analyst with BB&T Capital Markets in Richmond.
Aluminum production in November was 8.3 percent below that of November 1999,
and December's production will be lower still, he said. "We'll get more
production cut announcements, I think," he said. A slowing in the U.S. and
world economies next year could ease the impact of reduced aluminum
supplies. "But if the world economy doesn't fall completely apart, then
[aluminum] prices are going to rise, and they could rise significantly more
than the current forecast," he said. In Kaiser's case, it's an open question
how much of its electric windfall it will keep. Kaiser is contractually
entitled to buy electricity from Bonneville at $22.50 a megawatt per hour,
says spokesman Scott Lamb. That is the power it has sold back to Bonneville
for $550 a megawatt hour for December.
But the Bonneville Authority is pressuring Kaiser to use these and future
profits from power resales to compensate employees at the shut-down plants,
to invest in new electric generating capacity, or even to refund to
Bonneville's other customers, said Bonneville spokesman Ed Mosey. Kaiser and
Bonneville have negotiated a new power purchase deal to take effect after
next October, but the power authority says it intends to reduce deliveries
to Kaiser if the company tries to pocket the electricity sale profits. "Out
here, a deal is a deal, but it has to be a moral deal. There has to be an
ethical dimension to this and we're not shy in trying to make sure they live
up their advantage in having access to this publicly-owned power," Mosey
said.
, 2000 The Washington Post Company


---------------------- Forwarded by Kay Mann/Corp/Enron on 06/06/2001 07:38
AM ---------------------------

Kay Mann
06/06/2001 07:38 AM
To: Ben Jacoby/ENRON@enronXgate
cc:

Subject: Re: FW: Conference Call to discuss Midway LOI

I'm available for one hour, so long as I can call in from off campus.  I'll
need a new cell phone battery first!  My old one finally died a tragic death.

Kay

From: Ben Jacoby/ENRON@enronXgate on 06/05/2001 02:41 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: FW: Conference Call to discuss Midway LOI

FYI, see below re the LOI. Are you available?

-----Original Message-----
From: "Becky Alex" <rtalex@tecoenergy.com>@ENRON
Sent: Tue 6/5/2001 2:39 PM
To: Jacoby, Ben; Mitro, Fred; dcturner@tecoenergy.com; Eric Bronner;
mrcarlson@tecoenergy.com; rtalex@tecoenergy.com;
TPS#032#Exec#032#Conf#032#Room@tecoenergy.com
Cc:
Subject: Conference Call to discuss Midway LOI

Item Type:  Appointment
Start Date:  06/07/2001  03:00 pm EDT  (Thursday)
Duration:  1 Hour, 30 Mins
Place:  TPS Executive Conference Room / Conference in Enron

3:00 PM EDT


-----Original Message-----
From: 	Dupont, Anita
Sent:	Wednesday, June 27, 2001 8:08 PM
To:	Bill Rust (E-mail); Christi Nicolay (E-mail); Fred Mitro (E-mail); George Hopley (E-mail); Jean Ryall (E-mail); Jeffrey Wilson (E-mail); John Moore (E-mail); Lloyd Will (E-mail); Madhup Kumar (E-mail); Martin Lin (E-mail); Patrick Hanse (E-mail); R McNamara (E-mail); Robert Kraszewski (E-mail); Ron Tapscott (E-mail); Sevil Yaman (E-mail); Steve Olinde (E-mail); Steve Walton (E-mail); Susan Scott (E-mail); Tom Dutta (E-mail); Vasant Shanbhogue (E-mail); Vince J Kaminski (E-mail); Walter Coffer (E-mail)
Cc:	Cunningham, Lance
Subject:	FW: Transmission Round Table

Regards,

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

 -----Original Message-----
From: 	Gordon, D'Ann
Sent:	Wednesday, June 27, 2001 1:15 PM
To:	Dupont, Anita
Cc:	Coffer, Walter
Subject:	Transmission Round Table

Anita,

Please send this note to all identified participants in the Transmission Round Table-

To all Transmission Round Table participants:

Please think about this proposed project and keep involved with suggestions and information as you receive such.  Be prepared to discuss proposal at the next "Round Table" and offer remarks via e-mail to any appropriate Enron person, but particulars to Walter Coffer.

"Current Transmission Project"

Initial concept of Mandate and Plan of Action

1) Pinpoint restrictions in the Transmission system and then develop a strategy for profiting by mitigation or other actions.

This is an effort that should be spread company wide with everyone who works with Transmission or learns a detail that relates to Transmission.

2) Use our "Transmission Round Table" to gather the knowledge and ideas that we need to formulate our strategy.

Share this knowledge through a website to be set up.

Activate all who work with Transmission or have any good ideas on the subject.

3) Develop a team to do the required work under a mandate from Dave Duran; directed by Walter Coffer.

4) Develop strategies for working with each type of competing regional Transmission entities. (ISO, Transco, RTO)

5) List pertinent Enron web pages, what should be on them, and who to talk to about the information contained in each.

6) Go to work now!


Mike,  I reveiwed the proposal by Adewumi and it is correct and fairly
accurate, for the purposes of a historic account and and in as far as  what
was provided to him in the way of data and history.  His proposed scope seems
to be conclusive and appears to be what we need.   I have included Louie in
the distribution  and am sure he will have some input.

My comments are as follows:

1.  I dont know how relevant it is to know about the customers facilities at
this time.  As you know, we have more than one customer (PG&E and SoCal), and
I  think that we should maintain a low profile especially with respect ot
SoCal.  Both parties in the past,  have been helpful and very cooperative in
matters  pertaining to PCB's. Because the modeling study will be conducted
between C/S 3 and C/S 2, the customers facilities should have no impact on
this.

2.  Also, I would like to see if we can deal with  PCB's and arsenic at the
same time?  Is it possible to simultanously model both contaminants?

3. Because the modeling efforts are conducted on a very small portion of the
pipeline, can this section be used for all of the Transwestern system?  In
leau of  the fact that we have pipe under rivers, over rivers, major
elevation chages in short distances etc which are not covered in the section
to be modeled, will  the pipeline characteristics be covered to the extent
that it will yeild information applicable to the entire pipeline system?

4. I am also concerned about stirring up the PCB's and moving additional
PCB's into the SoCal system.  Its been pretty quiet  in discussions with the
SoCal  PCB person.  I wonder if we should notify Ralph Komai to be on the
alert when we start the cleaning?  Louie, thoughts?

5. Injection of terpenol into the station yard piping.  How will we do this
and how do we get it out?

6. Impact of terpenol on gaskets, engine parts, etc.

"Michael A. Adewumi" <michael@pnge.psu.edu> on 10/29/99 03:15:19 PM
To: Michael Terraso/OTS/Enron@ENRON, David Roensch/ET&S/Enron@Enron, Larry
Campbell/ET&S/Enron@Enron, Ben Asante/ET&S/Enron@ENRON
cc:

Subject: The Draft of the PCB Cleanup Proposal

Dear Mike, David, Larry and Ben:
 Please find attached the draft of the PCB migration/cleanup proposal as
promised. This is only the technical portion of the proposal. Once we agree
on the specific scope of the work, the necessary man-hours and the
associated budget can then be developed.
 In addition, we have studied the material given during our meeting and have
developed a preliminary list of the data that we would need from you once
the project begins. I have decided to attach the list so as to give you
adequate time to collect and/or collate this information.
 Please give me your feedback on the proposal as soon as possible so that we
can develop the final version and submit an official proposal. Equally
important, the more preparation and planning we do at this stage, the faster
the progress that would be made once the project actually begins. Thank you
and have a wonderful weekend.
Michael A. Adewumi,PhD.,
Professor of Petroleum & Natural Gas Engineering,
Department of Energy & GeoEnvironmental Engineering,
The Pennsylvania State University,
202 Hosler Bldg.,
University Park, PA 16802
(814) 863-2816
(814) 863-1875 (FAX)

 - PROPOSAL_Draft1.doc
 - required_data.doc


Kim:

I spoke to Andrew Gregoricj of Asarco today.  He is an EP Full Requriementst
customer.  I used to sell him gas when he was at BHP.  He is the energy
manager at Asarco, gas and power.  He buys about 3,500 MMBtu/d.  He is
contracted through Sep.  I will be working with him on power.  Please make a
note of his information so you can work with him in the future.


Rick,
There are very few single issues that require urgent consultation with you, however there are lots of little things that you may want to be aware of:
	We had an FSA 'Traded Risk' 2-day audit the past two days.  The operations/risk group bore the brunt of the work but Michael Pitt and I spent some time with them as well and we did do some level of preparation.  Jonathon Marsh, our compliance guy, seeemed very pleased with the result.  You never get away clean, but I think that they were impressed with the effort as well as the Enron risk culture.  by the way, my opinion of both Jonathan Marsh and Paul Freeman, the new technology guy is quite high - they are both good guys who want to make positive changes and not afraid to say whats on their mind.
	2 risk policy issues came up - one regarding credit trading and the other regarding the freight book wanting to lay off credit risk with the credit book.
these we are slated to discuss with you tomorrow.
	There are 2 new bad credits in Metals - 1 related to McCook where two of the 3 companies in the group declared ch 11 - we are owed est. $7.5MM
		the other co. is the one that has granted us a free gigantic option on tolling ally for power - the commercial team is attempting to work out a situation
		where we transfer the unsecured claims to the ch 11 entities to a first security package on the smelter in co 3.
		The other bad deal is a lead company out ogf the NY office where they owe us $450K on financials and we owe them $1MM on physicals - we are working on netting the positions

There are a number of deals being worked on surrounding TPL ppa's in which the power positions would be taken on by Enron and we would get cash to either extinguish or re-mark the price (the purchases are way out of the money).  There are 3 in the negotiation process - each big - not at the decision or DASH stage.

we had a DASH signed off while I was away on ETOL for a gas turbine in which we get tolling in exchange for a capacity payment.

I assume you are up to speed on the tragedy at TPL yesterday.

Norway is looking at 2 large power prepays with municipal generators - low probability

we will be circulating a DASH on $2MM more into Thrace - turkish e&p and pipeline play - total exp =$7.25MM
	team worked extensively with Jim ledlow and Brad on the analysis.  deal looks fine on the surface - 46% iirr vs 35% capital price.  only real issue is 'do we want to sink more $ into Turkey in order to improve the chances of a good sale or do we just put progress on hold'  good news is that $1.5mm is coming from cash flow from the project.

We have in the works one of the few EES NA-type deals with Guiness at a single facility.  $9mm in capital.

in the markets, we do not seem to be doing particularly well of late - Norway is down, uk gas has gotten caught in a short squeeze, uk power has lost a little, metals is metals
....
things are moving on the personell front as well:
Rudi starts monday
Mike Mumford (internal transfer from Enron Credit) start 9/3
Tracy comes in mid September
Blair van Zant -Director credit starts on 9/30
Shane Miller -m specialist mrm started yestdy
Erik beekman - specialist mrm starts early sep
Joachim von Geilieu - director credit is weighing an offer
John Collenette - sr director - credit has resigned his job/accepted our offer with 11/5 outside start date
Michel Gantois - director -credit/underwriting has accetped and will start in houston soon and relocate to london no later than 12/01
we have several quite interesting junior candidates for credit which we will decide on within a week
there are 2 strong candidates for a sr dir role
and we have seen several other interesting candidates
and we have a few other internal folks who are interested
I have agreed to let Paul Freeman have Michael Pitt to continue his good work on project Salem - it will be good to have a friendly in their territory. it also frees up a budget spot.

That's all for now.
hope to talk to you today - otherwise I will be in Houston - touching down at 5:00 pm tommorrow. plan to be in office sunday to consider the potential questions from the board.
Ted


I have a few questions regarding the transition.

Access Programmers - the contractors will be managed by the end-users they
are supporting from now on.  The budget dollars for them are in CC 103849 -
$50K per month.  Do you want each department to continue paying their
invoices against these budget dollars in 103849 or through their own cost
centers ?  Do we transfer budget dollars? Close the cost center?

Equipment - We have 1 flat screen and several large monitors.  Should we just
return all equipment to surplus or offer to others?

Space - Will CommodityLogic be moving and assuming the space that will be
vacated on 3/12?

Fax machine will be disconnected/returned.  Digital Scanner will be surplused.

There are two printers that can be surplused unless someone else (CL?)
wants/needs them.  TurkeyLegs and Tarzan.

I currently charge 50% of my time to CL and 50% to my cost center - 103850.
Should I continue this or charge all my time to CL and close my cost center
?  Since Marvia is also be redeployed, there is no one else in my cost center.

Let me know if you want to sit down and discuss or you can just provide quick
answers here or in voice mail.


we are in for 3 nights.  i haven't heard from merlin yet so he is the only
one who hasn't committed to that weekend.  i also need to check with max.


Doesn't change the order, but indicates potential issues on the 2003 Expansion.

NGI's Daily Gas Price Index
Breaking News : posted Oct 25, 11:12 AM
Breathitt 'Uneasy' About Approach to Pipe Certification
Although FERC and California regulators have made a lot of headway in past months in their effort to relieve the imbalance between in-state and interstate pipeline capacity, Commissioner Linda Breathitt said Wednesday that she still is somewhat unsettled by FERC's tendency to routinely approve interstate pipe projects without giving full weight to the impact on existing shippers.
"I remain uneasy about the...policies the Commission has advanced in favor of certification of interstate capacity despite the [inadequacy] of takeaway capacity and particularly the confidence with which the Commission has rejected the legitimate concerns of shippers on [Kern River's] system," she said during the regular FERC meeting.
Breathitt's remarks were part of a concurring opinion on two orders in which FERC denied rehearing of its certificate approval for Kern River Gas Transmission's 2002 Expansion Project and California Action Project [CP01-31, CP01-106-001]. Firm customers of Kern River sought reconsideration of the certificate orders on the grounds that the expansions would result in pro-rata capacity reductions for existing shippers at Wheeler Ridge and would diminish their firm delivery rights.
Despite her concerns, Breathitt noted that she was "pleased that over the past six months the Commission has come to acknowledge that our actions in certificating the Kern River expansions could exacerbate the problems of delivering natural gas to end-users in Southern California."
Even more importantly, "the Commission has recognized the potential degradation of shippers' firm rights resulting from the certification of additional interstate capacity is an appropriate factor in the public benefits analysis that we use to determine whether a project is in the public convenience and necessity," she said.
Moreover, "I am relieved that certain events are occurring in California that will mitigate congestion at Wheeler Ridge. More takeaway capacity is on the horizon, and the California PUC is considering certain regulatory relief that will facilitate the transportation of natural gas from Wheeler Ridge to Southern California markets."
Nevertheless, Breathitt urged her FERC colleagues "not [to] lose sight of the panoply of issues we must consider in issuing natural gas pipeline certificates."
This doesn't mean, however, that she is against all new pipelines and expansion projects, Breathitt said. "I most certainly share the sense of urgency to ensure adequate and reliable energy supplies. However, there is more to the Commission's mandate under the Natural Gas Act than simply getting more pipe in the ground."
Breathitt noted that the Commission plans to revisit the issue of the adequacy of California takeaway capacity when it takes up Kern River's pending application for its proposed 2003 Expansion Project [CP01-422]. Firm customers on the pipeline have already protested the application. They claim that Kern River has sold nearly 500,000 Dth/d of additional primary firm delivery point capacity at Wheeler Ridge in the three expansion projects, and that they are experiencing scheduling cuts as a result.
When the Kern River 2003 expansion comes before the Commission, "I will continue to advocate a thoughtful and coordinated approach to fostering badly needed interstate and intrastate expansion in California."

 -----Original Message-----
From: 	Cantrell, Rebecca W.
Sent:	Wednesday, October 24, 2001 6:29 PM
To:	Miller, Stephanie; Tycholiz, Barry; Tholt, Jane M.
Cc:	Pharms, Melinda
Subject:	FERC Draft Orders on Kern River and PG&E Projects

FERC today issued Draft Orders denying rehearing in the following:

Kern River, CP01-31 (2002 Expansion Project)
Rejected arguments of the Firm Customers that the project should not have been approved or, alternatively, the rights of the expansion shippers at Wheeler Ridge should be subordinate to those of the existing shippers.

PG&E Gas Transmission, NW, CP01-141 (2001 Expansion)
Rejected Newport Northwest LLC's assertion that requiring the expansion shippers to pay a fuel cost surcharge to recover any incremental fuel costs due to the additional compression approved for this project is contrary to FERC precedent and the policy statement on expansion facilities.

These orders should be issued within the next few days, and we will circulate copies.  Let Melinda know if you want to see the draft copies before then (they are not available electronically).


Susan,
 That is correct.  If ENA wants to trade with Coral, It will need to use its
Firm GTC and document accordingly until a new contract is negotiated with
Coral.

	Susan Elledge@ENRON
	03/13/2001 01:48 PM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc:
		 Subject: ENA contract assigned to HPL (96004780)

Hi Dan,

I have a copy of a letter dated 8/2/99 from ECT to Coral Energy Resources,
L.P. assigning the referenced contract to Houston Pipe Line Company.  The
assignment was never made in Global Contracts.

If you agree that it should have been assigned, as the letter says, I will
assign it today.  If I do assign it, Coral will no longer have a firm master
contract for trading.  I will also have to remove it from EOL.

Please advise at your earliest convenience.

Thanks!
Susan
5-9989


----- Forwarded by Michelle Cash/HOU/ECT on 06/09/2000 04:04 PM -----

	Gene Diers@ENRON
	06/09/2000 07:54 AM

		 To: Gary Buck/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT, Tom O
Moore/NA/Enron@ENRON
		 cc: Carmen Ayala/HOU/ECT@ECT, Mark Holsworth/Corp/Enron@ENRON
		 Subject: MASTER SERVICE AGREEMENT, AGREEMENT FOR PROJECT SERVICES, PROJECT
WORK DESCRIPTIONS (LONG AND SHORT FORM)

I talked briefly to Carmen this morning about plans to revise the above
agreements and associated arrangements for processing them. ]

Since I am retiring on June 30, 2000, I have no territorial interest in what
happens but I think I would be remiss if I didn't at least offer a couple of
comments:

1.  Taking the agreements in the name of Enron Corp. while irksome to some
has been effective.  It allows any/all commercial companies to reference an
agreement.  This provides for consistency not only in the manner in which
vendors treat different operating companies but also in the manner in which
we treat different vendors.  I think it keeps vendors from employing a divide
and conquer approach.

2.  The agreements need to be updated.  I know that there are some reasons
for using two agreements, i.e., MASTER SERVICE AGREEMENT and AGREEMENT FOR
PROJECT SERVICES, but I would vote for combining them if the problems could
be worked out.  It's not that the current agreements are bad but there is
some duplication, terms that are confusing, clauses that are missing, etc.,
all things that could be fixed rather easily.

3.   I don't see why the agreements couldn't be generalized somewhat to cover
all kinds of professional services as opposed to just IT consulting.

4.  If commercial companies need/want to sign PWD's, why can't we work out an
arrangement wherein the PWD is still subject to a Corporate master agreement
but the commercial company signs and indemnifies the corporation, e.g., for
anything that they might do on the PWD.

I realize that nobody has asked me and maybe I don't really understand what
it is that you are trying to accomplish in the modified processbut as I view
it with from an overall Enron Corp., I am concerned that we might be chunking
a methodology that has served us.

Thanks.  gene


put o calendar
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/04/2000
12:35 PM ---------------------------

	From:  Sheila Knudsen @ ENRON                           12/04/2000 12:03 PM

To: Mark Frevert/NA/Enron@Enron, Greg Whalley/HOU/ECT@ECT, David W
Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Janet R
Dietrich/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Mark
E Haedicke/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT,
Vince J Kaminski/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, Jeffrey
McMahon/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT,
Jeffrey A Shankman/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, George
McClellan/HOU/ECT@ECT, Jere C Overdyke/HOU/ECT@ECT, Louise
Kitchen/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT, Greg
Piper/Corp/Enron@Enron, Jay Fitzgerald/NY/ECT@ECT, Rebecca
McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James A
Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Orlando Gonzalez/SA/Enron@Enron,
Joe Kishkill/SA/Enron@Enron, Shawn
Cumberland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dan Leff/HOU/EES@EES, Marty
Sunde/HOU/EES@EES, Michael Kopper/HOU/ECT@ECT, Richard DiMichele/Enron
Communications@Enron Communications, Richard Shapiro/NA/Enron@Enron
cc: Robert Jones/Corp/Enron@ENRON, Cindy Skinner/HOU/ECT@ECT, Janie
Bonnard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott
Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sheila Walton/HOU/ECT@ECT,
Miguel Padron/NA/Enron@ENRON, Gina Corteselli/Corp/Enron@Enron, Kay
Chapman/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Christy
Chapman/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Shirley
Tijerina/Corp/Enron@ENRON, Janette Elbertson/HOU/ECT@ECT, Lillian
Carroll/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Sue Ford/HOU/ECT@ECT,
Marsha Schiller/HOU/ECT@ECT, Cathy Phillips/HOU/ECT@ECT, Jennifer
Burns/HOU/ECT@ECT, Stella L Ely/HOU/ECT@ECT, Angie Collins/HOU/ECT@ECT, Donna
Baker/HOU/ECT@ECT, Tammie Schoppe/HOU/ECT@ECT, Peggy McCurley/HOU/ECT@ECT,
Tina Spiller/Corp/Enron@Enron, Loretta
Brelsford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connie
Blackwood/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eva Hernandez/Enron
Communications@Enron Communications, Lisa Wolfe/NA/Enron@Enron, Shimira
Jackson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Kathy Dodgen/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Inez Dauterive/HOU/ECT@ECT, Ginger
Dernehl/NA/Enron@Enron, Luly Stephens/NA/Enron@Enron, Crissy Collett/Enron
Communications@Enron Communications, Patti Thompson/HOU/ECT@ECT
Subject: December 11 PRC Meeting

Please mark your calendars for the December 11, 2000 PRC meeting to prereview
Vice Presidents in the following organizations:

Enron North America
Enron Industrial Markets
Enron Global Markets
Enron Networks
Enron South America
APACHI
CALME

The meeting will be held at the St. Regis Hotel, 1919 Briar Oaks Lane,
Houston in the Plaza Room.  The meeting is scheduled from 8:00am to 5:00pm.
For those of you who are part of the Enron Wholesale Services Group, please
plan to be there at 8:00am, as the first part of the meeting will be devoted
to discussing PRC results of groups below Vice President, and Manager to
Director/Sr. Director promotion nominations.  The Vice President rating is
scheduled to begin at approximately 9:45am.

The telephone number of the hotel is 713-840-7600.

A complete agenda and details will be forthcoming later this week.

For those of you in the organization units listed above, please be prepared
to present and discuss your Vice Presidents.

Please feel free to contact me at X36628 in Houston, should you have any
questions.

Sheila Knudsen


Barbara,
 According to the Restructuring of Gas Purchase and Sales Contracts between
ENA and
Entex, Entex is to purchase their natural gas requirements for General
Service Customers from ENA except for
(i) approximately 30 Bcf per year to be purchased from other suppliers at
points other than Conroe;
(ii) gas currently purchased from 2 other suppliers at Conroe;
(iii) 10,000 MMBtu of gas per day purchased from a third party during the
period 4/1/99-3/31/2002;
(iv) volumes Entex purchases from HPL under 2/8/76 gas supply agreement;
(v) 6,000 MMBtu  per day Entex currently transports on HPL under 1991
transportation agreement.


Hi, all:

We are planning another series of Open Houses for prospective students in
December and early next year, and we are hoping to broaden the geographic
area in which we host these events.  We are currently thinking of having
Open Houses in the Sacramento area, the North Bay, and the Peninsula.  Does
anyone have suggestions for appropriate venues?  The requirements are
pretty simple - the space would need to seat about 200 people and have very
basic equipment (i.e. a microphone).  In the past, we have held Open Houses
at hotels, since they are easily located and able to provide light
refreshments.  Any ideas?  Thanks!

Julie


Ken:

I thought you might be interested in the attachment.

Mark
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
05/20/99 05:19 PM ---------------------------

Elizabeth Sager
05/20/99 04:52 PM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: June meeting of Contract Standardization Group

---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 05/20/99 04:51
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Kathy Seaman" <KSeaman@eei.org>                           05/20/99
04:10 PM

Please respond to "Wholesale Electric Contract Standardization Group"
<contract@ls.eei.org>
To: "Wholesale Electric Contract Standardization Group" <contract@ls.eei.org>
cc:  (bcc: Elizabeth Sager/HOU/ECT)
Subject: June meeting of Contract Standardization Group

Please be advised that the meeting in June for the entire Standard Contract
Group is now confirmed to take place on Tuesday, June 8th, from 9:30 a.m. *
3:30 a.m. in EEI's offices at 701 Pennsylvania Avenue, N.W., Washington, D.C.
20004.  A revised contract and agenda will be forthcoming.

If you plan to attend this meeting, please inform Kathy Seaman at
202/508-5757 or respond to this message by using your e-mail program's
"ReplyTo" function.  If you have any questions or concerns, you can reach
Kathy at 202/508-5757 or Andy Katz at 202/508-5616.

In the meantime, attached for the entire group is a Petition for Exemption
filed with the CFTC on May 19 requesting that certain Electric Energy
Contracts be exempted from CFTC jurisdiction under the Commodities Exchange
Act (CEA).  The CEA contains an exemption for Energy Contracts for the
purchase sale of oil and natural gas products which have certain
characteristics.  The Petition asks that similarly situated Electric Energy
Contracts be included in the exemption. For further information on the
Petition, contact Michael S. Hindus, Cameron McKenna LLP, 415-954-8484,
mhindus@cmckenna.com

 - Petition_email version.doc