I wanted to present this summary of the meeting Transwestern had with
representatives of the Laguna Pueblo concerning the status of the PCB
remediation activities by TW.  On the Laguna side were members of the Laguna
pueblo, the PEOP a  technical oversight group that provides expertise and
assistance on technical issues for all of the 19 pueblos in New Mexico
(ranging from UST to superfund), and members of ETS ( 5 members of the Laguna
team, Butch Russell, Rick Smith  (advisor for the Laguna team), myself)  and
George Robinson.   This is the third meeting we had in the last year and a
half with this group since the Lagunas have started showing renewed interest
in environmental activities on their pueblo.

The meeting centered around two issues at the site: the closure of the UST
and the PCB remediation activity.  With respect to the first, concensus was
reached that we would continue monitoring and collecting groundwater samples
at the two downstream well locations from the UST site on a quarterly basis,
and send the results to POEP for review.

With repsect to the PCB remediation issue, things were a little different.
The POEP representatives expressed concern on behalf of the Laguna tribal
Coucil that the progress of the remediation activities Transwestern is
presently using to bring closure to the site is not showing positive goals
toward  achieving cleanup at the site and that the data submittals to the
Lagunas have verified this.  They indicated that that have been patient with
Transwstern's attempts to allow natural attenuation to reduce the PCB
contamination, but based upon the historic sampling results, that this
technology is not proving to be very successful, in fact the results have
shown stagnant results  (Im using their words).  They would like to see
Transwestern implement other more proactive technologies to arrive at cleanup
and closure of this site.   Members of the Laguna pueblo, who work for the
POEP,  expressed concern that the PCB contamination could negatively impact
future generations of Lagunas members and that it was the responsibility of
Transwestern to clean up the contamination which they brought onto their
lands.   One member of the Laguna pueblo called the contamination a "cancer"
with potential to spread.   A comment was made by the POEP that there was a
major potential of increasing the magnitude and spread of the contamination
if we continue to just maintain  our present approach of just monitoring the
site and installing additional wells..

A member of the POEP has been in contact with a consortum of individuals from
North Dakota State University, (Energy and Environmental Research Center) who
claim to be experts in reclamation of contaminated sites which are considered
difficult to remediate (this site would certainly fall into this category due
to the presence of the sandstone bedrock which has numerous cracks and
channels present which direct  the PCB containing liquids present at the
site).  Although the POEP was not recommending Transwestern utilize their
service, they did strongly suggest that we should at least discuss this site
with them.

It shold also be mentioned that Syed Risvi, the POEP Superfund representative
was at this meeting.  He had mentioned that the  POEP has been in discussions
with EPA Region VI concerning potential classification of the site on the
CERCLIS list of sites for inclusion on the NPL..  He had indicated that he
did not want to see this site included on the list, but stated that
Transwetern needed to update and show postive results in our remediation
efforts and that it was the tribal councils opinion that this was not being
done.

At the conclusion of the meeting, I informed the POEP that Transwestern's
internal remediation group  would contact the NDSU group and discuss the site
characteristics with them and we would reprot back to them the results of our
discussions.  This seemed to satisify the  POEP and they were content with
this.

John, I would like to schedule a conference call with the above list of
people and discuss this issue.  A couple of things I want to bring out.
First, we will be undergoing ROW and Compressor Station renewals with the
Lagunas in the near future.  Second, on the Laguna tribal lands, they have
experienced other releases of contimation and are currently very sensitive to
this whole  contamination problem.  Although we are considered by the POEP as
proactive up to this point  and very easy to work with (direct quote from the
POEP)   they are wanting a more proactive and measurable effort from
Transwestern to clean up the PCBs.
Please get back with me on this.


The physical gas is not the problem....CAS is showing that financial deals have been booked with Duke Energy Marketing LP and ECC and also ENA.  Duke wants another ISDA so they beleive these trades exist too. Is the problem with the booking in our system or the confirming process or both? Physical trades will be with both entities as the agency agreement between ENA and ECC only applies to financial trades. We need to pull all of the financial trades with ECC and get to Mark Taylor's group today so that they can prepare an assignment of the ENA trades to the ECC master. Let's discuss.  Thanks for your help.

-----Original Message-----
From: Theriot, Kim S.
Sent: Wednesday, October 24, 2001 11:56 PM
To: Rohauer, Tanya
Subject: ECC vs. ENA deals

I ran three reports. One for Duke, Mirant, and Transcanada.  Looks like the issue is with Physical Gas.  I need to do a little more research in the a.m. to see what's going on.  I will let you know what I find out.

Kim


Thanks for your efforts, let me know how it plays out so I'll know whether or
not to provide the customer with some prices.  John


Kay

Are you available to sign those Blue Dog Change Orders this afternoon?  Sorry
I keep asking you about this -- Ben gave them to me on Friday so I want to
get them signed and the copy sent back to GE today, if possible.

Thanks,
Rebecca
x57968


FYI

gngr
713-853-7751
----- Forwarded by Ginger Dernehl/NA/Enron on 12/13/2000 03:06 PM -----

	Marcia A Linton
	12/13/2000 03:06 PM

		 To: Ginger Dernehl/NA/Enron@Enron
		 cc:
		 Subject: Sophia Abigail Maisashvila

Robin and Gia became the proud parents of Sophia Abigail on Monday, December
11, at 9:50 am.  She weighed 9 and 1/2 pounds and is 21 inches long.  Robin
and Sophia are both doing well, as is Gia, although he reports being a bit
"sleep deprived".


Fascinating.

A few questions come to mind:

1) Has an auction transaction agreement been developed?

2) Harry, have we checked with Mark Perlis yet on any emission legal issues,
such as can we offer an auction that competes arguable with the EPA Auction?

3) It appears as though this is going to be both a system that allows Enron
to buy and sell with other participants, as well as allows others to deal
with each other through the system.  I would be my understanding that only
physical delivery would occur in this market. Mark, do you think this
(particularly the matching aspects of the auction) may be construed as a
"multilateral execution facility" by the CFTC? I could not recall if that
interpretation would be a problem for a physical delivery market; I know it
would likely be for swaps.

4) Does Enron get any commission for playing running the system when others
transaction without Enron being a principal?

5) I have no idea about the legality of offering up the Las Vegas trip. But,
it seems as though we would need to review all relevant jurisdictions where
the participants reside for an answer.

Alan

Harry M Collins
02/15/2000 12:22 PM
To: Mark Taylor/HOU/ECT@ECT
cc: Alan Aronowitz/HOU/ECT@ECT
Subject: Auction

FYI

Attached is the preliminary outline of the proposed emissions auction,
developed by Zal..

Please advise on the CFTC issues raised.

Thanks,
---------------------- Forwarded by Harry M Collins/HOU/ECT on 02/15/2000
12:19 PM ---------------------------

Zal Masani
02/14/2000 03:55 PM
To: Harry M Collins/HOU/ECT@ECT
cc: James B Fallon/HOU/ECT@ECT, Greg Woulfe/HOU/ECT@ECT, Leonard
Tham/HOU/ECT@ECT, Doug Gilbert Smith/Corp/Enron@ENRON
Subject: Auction

Harry:

Attatched is a document containg the basic structure of the auction as we
envision it. Please keep in mind that it is a work in progress and will be
modified as we develop a better idea of the auction.
Below are certain questions we need clarification on.

Structure:
Do we have any CFTC exposure?
By the nature of the auction structure, are we not implicitly matching? If
yes then how does this affect the previous answer?
Do we have exposure to the lottery commission if we offer a free gift during
the auction?

Contract:
To limit our exposure due to failure of the system etc. what sort of Force
Majure clause can we incorporate in the contract?
To what extent are electronically signed contracts enforceable?

Internal:
Can other trading desks at Enron other than the emissions desk participate in
this auction?
What limitations can be placed on the emissions desk as far as information
sharing and usage are concerned? both during and after the auction?

Thank You

Zal


don't sell just yet.
----- Forwarded by Jeff Dasovich/NA/Enron on 03/15/2001 05:08 PM -----

	Margo Reyna
	03/15/2001 04:56 PM

		 To: Sue Nord/NA/Enron@Enron, Scott Bolton/Enron Communications@Enron
Communications, Lara Leibman/Enron Communications@Enron Communications,
Donald Lassere/Enron Communications@Enron Communications, Mona L
Petrochko/NA/Enron@Enron, Barbara A Hueter/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Susan M Landwehr/NA/Enron@Enron, Marchris
Robinson/NA/Enron@Enron, Ricardo Charvel/NA/Enron@Enron, Stephen D
Burns/Corp/Enron@ENRON, Xi Xi/Enron Communications@Enron Communications,
Allison Navin/Corp/Enron@ENRON, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eric Benson/NA/Enron@ENRON,
Karen Huang/Enron Communications@Enron Communications, Matthew
Jachimiak/HOU/ECT@ECT, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: Telecom Services: Broadband Services: USA:    Analysts still
bullish on Enron broadband unit ...

Margo Reyna
Regulatory Analyst
Enron Corp., Government Affairs
Phone:  713-853-9191

----- Forwarded by Margo Reyna/NA/Enron on 03/15/2001 04:56 PM -----

	djcustomclips@djinteractive.com
	03/15/2001 04:54 PM
	Please respond to nobody

		 To: 123363@WCTOPICS.djnr.com
		 cc:
		 Subject: Telecom Services: Broadband Services: USA:    Analysts still
bullish on Enron broadband unit ...

USA: Analysts still bullish on Enron broadband unit prospects.
By C. Bryson Hull

03/15/2001
Reuters English News Service
(C) Reuters Limited 2001.
HOUSTON, March 15 (Reuters) - Wall Street took a hard look at Enron Corp.'s
content delivery plans this week after it ended its video-on-demand deal with
Blockbuster Inc. , but remained largely unfazed by the failure of the
flagship deal, analysts said on Thursday.
On balance, most analysts viewed the busted 20-year exclusive agreement as
disappointing, but by no means a fatal blow to Enron Broadband Services'
(EBS) budding content delivery segment.
Most reiterated buy or strong buy ratings for the Houston company and
maintained bullish earnings targets for the Enron Broadband Services division.
But all are awaiting an indication of how Enron will reconfigure the content
delivery initiative.
"I think Blockbuster represented kind of an anchor tenant for the broadband
business, so they have lost a contract that was important," said Jeff
Dietert, an analyst with Houston investment house Simmons and Co.
Now EBS will have to pursue smaller contracts to make up the loss, which
could mean a longer road to create as big a book of business, Dietert said.
EBS executives have said they expect to have $1 billion in total contracted
business by the end of 2001.
CHASING MORE CONTRACTS TO FILL VOID
EBS Chairman and Chief Executive Officer Kenneth Rice on Friday said his
division is already pursuing deals with content providers to send on-demand
games, movies, music and television over the Enron network.
UBS Warburg analyst Ronald Barone, in a research note released Monday, said
he still believes Enron will hit the $1 billion mark in 2001.
"Though this announcement is clearly a disappointment we have a great deal of
confidence in the judgment of Enron's senior management and of the upside
associated with this business," Barone wrote.
His report reiterated a strong buy recommendation and 12-month stock price
target of $102 a share, with EBS accounting for $25 of that.
One analyst remained skeptical of the content delivery plans.
"Where they go from here is one of things they have to tell the market in a
convincing fashion," said Commerzbank Securities analyst Andre Meade, who
raised Enron to accumulate from hold on Thursday.
But he also cut earnings targets for the EBS segment to $8.40/share because
of the failed Blockbuster deal.
Heady cash-flow projections figured heavily in Enron's guidance for 2001,
which called for a stock price of $126, of which EBS would account for $40,
Meade said.
Meade, whose company initiated coverage on Enron in late May 2000, had been
alone among Enron analysts in keeping a hold rating on the stock.
Merrill Lynch analyst Donato Eassey on Monday released a note reiterating his
buy recommendation with a $99/share price target.
"While the separation from such a high-profile name is disappointing, we do
not view this as negative," Eassey wrote. "This could in fact actually
accelerate Enron's content delivery strategy."
Eassey pointed out that Enron and Blockbuster's trial in Seattle, Salt Lake
City, New York and Portland, Ore., proved Enron can deliver movies on demand.
That gives them a track record to show to potential customers like movie
studios and other entertainment concerns that want to provide content
directly through their Web sites, he said.
Enron's stock closed on Thursday at $66.53, up $3.78, compared with its
52-week range of $59.99 to $90.5626.

Folder Name: Telecom Services: Broadband Services
Relevance Score on Scale of 100: 80

______________________________________________________________________
To review or revise your folder, visit Dow Jones CustomClips or contact Dow
Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone
at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact
your local sales representative.)
______________________________________________________________________
Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved


See redlined added language which allows reasonable time to manage the closeout process--tracks general ISDA mechanism.  The attached forms have the added language.

(b) Upon the occurrence and during the continuance of a Default in respect of any Defaulting Party, Non-defaulting Group may give notice to Defaulting Group specifying the relevant Default, declaring Defaulting Group in default of all Underlying Master Agreements and all Transactions thereunder, and designating a date not earlier than the date such notice is effective, but not later than 20 days after such notice is effective, upon which date each Non-defaulting Party shall (i) accelerate, terminate, and liquidate, or otherwise close-out all Transactions under its Underlying Master Agreements as of such designated date or as soon as reasonably practicable following such designated date; (ii) exercise rights of setoff, netting, and/or recoupment in accordance with the terms of its Underlying Master Agreements; (iii) retain any Collateral; (iv) with respect to each Defaulting Party, withhold payment and performance of each Non-defaulting Party's Obligations to each Defaulting Party to pay, secure, setoff against, net, and/or recoup such Defaulting Party's Obligations to such Non-defaulting Party; (v) convert any Obligation from one currency into another currency as set forth in Section 5; and (vi) take any other action permitted by law or in equity or by its Underlying Master Agreements or any Transactions thereunder necessary or appropriate to protect, preserve, or enforce its rights or to reduce any risk of loss or delay.  This Section 2(b) shall be referred to herein as the "Underlying Master Agreements Close-Out."

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732
(713) 646-3393 (fax)
mary.cook@enron.com


Attached is a list of the contracts that I am currently working on.  In addition, I am working with stacy dickson on a contract where by we can do business with Hesco and on a new contract with Citizens.

Let me know ifyou need anything else.

Kim


I spoke with Michael Mazowita/White Pine Energy, as he said the expected
outages are as follows:

August 31st - September 1st 12hours  12:00pm to 12:00am No flow

September 25th-31st  all days     No flow


Hey!!

What's up.  Do you have AOL Chat or something?

-----Original Message-----
From: Gill, Kiran [mailto:kiran.gill@neg.pge.com]
Sent: Friday, October 05, 2001 11:38 AM
To: Crandall, Sean
Subject: RE: Hi

of course I'm here. what's up?? How are you doing?

-----Original Message-----
From: Crandall, Sean [mailto:Sean.Crandall@ENRON.com]
Sent: Friday, October 05, 2001 2:17 PM
To: Gill, Kiran
Subject: RE: Hi

Are you still around?

-----Original Message-----
From: Gill, Kiran [mailto:kiran.gill@neg.pge.com]
Sent: Monday, July 23, 2001 6:43 AM
To: Crandall, Sean
Subject: Hi

Hey Sean, sorry I hung up there.
I was hoping you could still give me Scott's number, or whoever deals
with
odd lot sp15.
Thanks so much. Hope your doing well.
-k

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.

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Teco Tap       30.000 / Enron ; 120.000 / HPL IFERC


Are we still getting a demand charge bill from Equitrans for contract 270?  I
am still estimating about $5,000 per month.


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pmguid:1c.1gkv.803w8


FYI.  Do we need to communicate this to the trading / logistics groups?

Jim

-----Original Message-----
From: Ingersoll, Richard
Sent: Wednesday, October 31, 2001 10:01 AM
To: Belden, Tim; Jim D. Steffes (E-mail)
Subject: FW: Approved Winter OTCs IMPORTANT

fyi

-----Original Message-----
From: elder@wscc.com [mailto:elder@wscc.com]
Sent: Friday, October 26, 2001 9:36 AM
To: Multiple Committees
Subject: Approved Winter OTCs

COUNCIL REPRESENTATIVES

The Operating Transfer Capability (OTC) Policy Group has
approved the recommended 2001-2002 winter OTC limits for the
paths listed in the attached tables.

cc:
OTC Policy Group
Operations Committee
Planning Coordination Committee
Compliance Monitoring and
   Operating Practices Subcommittee
Operating Procedures Review Group
   w/attachments

Robert L. Dintelman
(801) 582-0353
(801) 582-3918
bob@wscc.com


Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 11/30/00 09:11 AM -----

	Norma Villarreal
	11/28/00 08:27 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Re: HR Questions

Carol,
Although I would enjoy speaking with you in person, PRC is occuping alot of
my time and will do so for the next 2 weeks.  I have addressed your questions
in red and hope have been clear in my response.  Please let me know if you
have any further questions.

Norma Villarreal
713-853-1545

   Carol St Clair                11/28/2000 03:45 PM

To: Norma Villarreal/HOU/ECT@ECT
cc:
Subject: HR Questions

Norma:
My husband and I have the following HR questions that I hope you can help us
with.  As you may know, I have been out since July 12th on maternity
leave/extended unpaid leave of absence.  My plan is to return to work on
January 8th.  Here are my questions:

1. I am considering coming back to work on a part time basis.  From a
benefits standpoint, is there any difference between a RRH employee (30-39
hours) versus a RPT employee (20-29 hours)?  In others words, are there any
benefits that I would lose if I worked part-time?

The difference is in the amount of Flexdollars you would receive, as stated
below:

 Medical Coverage Semi Monthly
    Flexdollars
RRH Employee Only  123.22
 Employee/Spouse 146.97
 Employee/Child 137.00
 Employee/family 165.25

RPT Employee Only  82.15
 Employee/Spouse 97.98
 Employee/Child 91.34
 Employee/family 110.17

2. Given the fact that I am not returning until January 8th, am I still
eligible for any stock option grant program that the company may institute at
year-end?
 That is currently under discussion in developing the new Stock Option
program.  However, they are leaning towards allowing individuals in your
situation to be apart of the program.
Is there any additional paper-work that I need to submit to keep me
eligible?   No.
Both my immediate boss, Mark Taylor and our general counsel, Mark Haedicke
are aware of the fact that I am not returning back to work until January,
2001.

3. Our bank account has been recently changed.  I pulled down the "Direct
Deposit Authorization" form and I am assuming that all I need to do is to
fill it out and send it back to you.  Is that correct?  Yes, please send to
EB3698
What is your office location?

4. As I get closer to my return date, is there any paperwork that needs to be
submitted to notify payroll of my return since I am currently not being paid?
 No.  Your time will be change coding from LOA without pay to Active time.

I look forward to hearing from you either by phone or e-mail.  My home phone
number is 281-890-7122.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


What's up?  Any news on Pirnie/AFI contract negotiations?


With the filing of the Hart-Scott-Rodino application last week, it looks like our updated launch timeline is as follows. Note that it is still possible that this timeline could shift:

Week of Jan 28:

We will distribute a packet to each of the Originators/Traders who have volounteered to call customers and assist in getting signed Password Applications. The packets will contain:

Key Messages
Frequently Asked Questions (FAQs)
Top Counterparty Checklist
External Customer Cover Letter
Password Application (PA)
Registration Form
Fax Cover Sheet for PA/Registration
Electronic Trading Agreement (ETA)
Internal online Marketing Contact List

Each person receiving a pack will contact the Master Users at the companies they have volounteered for and send them copies of the Password Application (PA) and Electronic Trading Agreement (ETA). During this week, we will be working hard to get as many of the PA's returned as possible. Once we have a signed PA, we can send the customer their new User ID, which will allow them to start trading on the day we launch the new site.

A Splash page will be available at www.UBSWenergy.com or via an automatic redirect from www.enrononline.com. This page will tell customers about the pending launch of www.UBSWenergy.com and provide links to the PA and Registration screens and also to the User Admin screens, which will allow customer Master Users to start setting up their Sub Users.

The Splash page will look something like the following:

Week of Feb. 4:

We will send out a mass mailing to approx. 3,000 individuals at 450 companies inviting them to sign up for the site. Included in the package will be a simple brochure, copies of the PA and ETA, key messages and a list of Frequently Asked Questions.

Week of Feb. 11:

The site will launch, with at least financial products (timing for gas physical and power physical to be determined according to regulatory issues).

General Terms and Conditions (GTC's) will be available online and must be accepted online before a company can start to trade a particular commodity.

Trading/Origination Coordination

The Top 50 customers will have at least an initial contact within the first two days of starting the marketing effort and that all customers who previously traded either gas or power will receive a mailing within the first 10 days. An online marketer has been assigned as coordinator for each company and will assist each Trader/Originator in following up with Master Users as necessary to make sure PA's are signed and returned.

UBSWenergy Marketing Contacts:

For Marketing-specific questions, please use the following contacts. For other questions, please contact Bob Shults (30397) or Dave Forster (31861).

Teresa Mandola (39807) - Power
Jennifer McQuade (53614) - Power
Dan Diamond (39673) - Gas

<Embedded Picture (Metafile)>


I thought we should have be taxable to the toon of 100 Million.  Give me a
call when you get a chance.


FYI.
Here is the last draft of the responses to FERC's questions.  It is still
missing a section in response to Question 2 that Mary is drafting.  I
believe that Ron has minimized the concerns that I had from the prior draft.
He is also swinging for a preemption home run ball in the San Diego
litigation.  In response to Question No. 4, he is asking FERC to
specifically to find that it is preempting investigations of last summers
market, find that the rates charged were just and reasonable and determine
that sellers are immune from refund under any possible legal theory.
Anything less will chill the market for further investment and exacerbate
the problem.  There is some risk if we ask for this finding and do not get
it, that fact will diminish arguments we might have in state or federal
court that there has been preemption.  As a practical matter, however, our
preliminary research has shown that without a very specific intent to
preempt anti-trust laws, for example, the preemption argument may be
difficult to make anyway.  Ron and Mary clearly believe this is the one
chance we have to get FERC to make a finding.  If FERC does make the
finding, it will undoubtedly be appealed.  I do not know how to assess the
likelihood that FERC will make the requested finding, and if they do whether
it will be upheld on appeal so it is difficult for me to do a risk benefit
analysis.

 If we are going to go this route, I would take out the conditional
phrase on page 7 in the word version that reads:  "if they were not in
violation of market rules established under the ISO's and PX's tariffs."

 Talk to you tomorrow.

Thanks
Gary

-----Original Message-----
From: Nancy Pickover [mailto:npickover@bracepatt.com]
Sent: Thursday, November 30, 2000 4:26 PM
To: Jeffrey Watkiss; gfergus@brobeck.com; acomnes@enron.com;
jhartso@enron.com; jsteffe@enron.com; mary.hain@enron.com;
smara@enron.com
Subject: Draft Responses to Chairman Hoecker's Questions

As you will see, the attached draft incorporates Sue's and Mary's drafts as
well as additional text from me.  The comments filed on Nov. 22 are
literally one foot high. If the Commission is serious about getting an order
out by mid-December, it is thus highly unlikely that it will carefully
review any of the Comments other than the major players (CPUC, Gov. Davis,
the UDCs).  I do believe, however, that Chairman Hoecker, the Commissioners
and the high level Staffers will be more likely to review the responses to
Hoecker's questions.  Thus, if we are to have any realistic hope that they
will focus on our arguments, I thought it advisable to use these responses
as an advocacy piece rather than a mere discovery response.  Hence, I
suggest a lengthy rather than minimalist response.

I thought that Gary's concern in an earlier email about Alan's rebuttal to
the J&K piece was well taken.  I have thus taken out all references to a
need to do more analysis on the market abuse issue, and recast his write-up
as simply a rebuttal of the J&K Study.

Finally, the draft (which I have included in Word and WP formats/ the WP
format may paginate more accurately) is no doubt in need of wordsmithing;
any suggestions would be well appreciated.

I would like to file this tomorrow, so please call or email me as early in
the morning as possible.  (I am not sending this email from my computer, so
please create a new email to me when you respond rather than simply hit the
"reply" button to this email.)  Talk to you tomorrow (Friday).

Ron

=======================================================
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 - 0134802.01
 - 0134839.01


We will have activities on Thursday, April 26 for Bring Your Kid to Work
Day.  Please RSVP to
Theresa Villeggiante via email by 5:00 PM on Tuesday, April 23 with your
guest(s) name and age.

The schedule:

8:00 - 9:00 Breakfast Served in Mt. Hood and with parents
9:00 - 9:45 What we do on the Trading Floor Presentation in Mt Hood
10:00 - 10:30  Join PGE Group for Fun On The Plaza (2WTC, Open Area) Electric
Cars, Line Truck Demo, etc.
10:30 - 11:00 Join PGE Group for tours (tour executive floor, load dispatch,
sign up at 10:00 on the plaza)
11:00 - 11:30 with parents
11:30 - 12:15 Lunch served (sandwiches, chips, cookies)
12:30 - 1:00  IMAGO Theatre's delightful FROGZ show w/PGE Group,
2WTC-Auditorium (suitable for all ages)
Remainder of the afternoon with parents.

Please note, parents must attend PGE activities with their child(ren).

Let me know if you have any questions and remember to RSVP on Tuesday!

Thanks.

Mollie


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact John Graziano regarding PIRA report distribution and address changes
at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that are
unsure of their licensed distribution or require an extension of their
current license should contact their PIRA sales representative, or email to
sales@pira.com.

PIRA Energy Group

 - ed053101.pdf
 - ed053101.xls


Please read Brian's memo below.  We spoke briefly about this yesterday in the
staff meeting.  I have copied each of you on a memo earlier today where I
have provide the 2000 Plan allocations.  Please note that we were not making
changes to the Plan, only breaking the Gas Asset group into smaller buckets.
Any chnages which have been made since the budget was approved are NOT
reflected on the allocation sheet.  Rather they ARE reflected on the 1/00
allocations, and they will require explanations each month as all variances
from Plan do.  This includes new RC's which have set up, etc.

I need each of you to review the 2000 Plan allocations as I submitted them
earlier today, and provide an accurate allocation of your RC for 1/00.  What
has your group spent their time on in 1/00???  Please be aware that we could
receive questions from the Commercial teams, so document your logic.  Some
things to consider:

Project Sally - allocate to Gas Network Development
Project Hurricane - allocate to ???? - (I have a call into Jim Coffey)
Denver Business - allocate to Rocky Mountain Asset Originations

If you have some other activities and your not sure where to allocate them,
either call me, Jackie Nelson or Jim Coffey.

One other thing to note:  The Network Trading group will be further broken
down into 2 groups:  Trading (Tom Martin and Jim Schwieger) and
Transportation (Ed Gottlob).  Although the attached worksheet does not
include this breakdown, please include it in yours.

I would like you allocations back to me no later than Thursday, 1/20 @
3:00pm.  Thanks.

---------------------- Forwarded by Brenda F Herod/HOU/ECT on 01/19/2000
05:36 PM ---------------------------

Brian Heinrich
01/14/2000 05:07 PM
To: Robert Superty/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Susan
Harrison/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Bob Shults/HOU/ECT@ECT,
Sheila Glover/HOU/ECT@ECT, Scott Pleus/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT,
Mary Solmonson/HOU/ECT@ECT, Stephen P Schwarz/HOU/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, Lisa B Cousino/HOU/ECT@ECT
Subject: 2000 Plan Allocations and January Allocations

The attached  files contain the Allocation Percentages for 2000 plan, January
2000 Actuals and a description of the new Assets Teams.

Please update the 2000 plan file to reflect the following changes to the
Assets Team.  The Assets Team is now broken out into the following "groups"
which are described in the attached Word Document:

RC#  Team Name    RC Owner

The 2000 plan file now has columns for the above teams, please take the
percentage that was previously allocatated to Assets (which is in the
Executive column) and reallocate it among all of the teams except Rocky
Mountain Asset Originations that you support.  I have already inserted the
new percentages to be used for Rocky Mountain, which are based on a portion
of the Upstream Origination Allocation that was determined by the Assets
group.  Consequently I have changed the allocation percentage for Upstream
Origination.  I have also protected all of the cells except the ones you need
to change to avoid confusion.

I also need you to update the percentages to be used for January 2000
actuals.  I have added the new RC's that we have set up since plan has been
complete, so please make sure you have each RC 100% allocated.

I will need the updated plan percentages returned to me by noon Wednesday
January 19th, and the updated January 2000 percentages returned to me by end
of day Friday January 21st.

Thanks for your help in getting these updated.
Brian


Subject:	What Enron Did Right

A great editorial in the Wall Street Journal today.

Manager's Journal:
What Enron Did Right
By Samuel Bodily and Robert Bruner

11/19/2001
The Wall Street Journal
A20
(Copyright (c) 2001, Dow Jones & Company, Inc.)

  This is a rough era for American business icons. Subject to the
vagaries of age (Jack Welch), product failure (Ford/Firestone tires),
competition (Lucent, AT&T), technology (Hewlett-Packard and Compaq), and
dot-bomb bubbles (CMGI), managers and their firms remind us that being
an icon is risky business. The latest example is Enron, whose fall from
grace has resulted in a proposed fire sale to Dynegy.

   Once considered one of the country's most innovative companies, Enron
became a pariah due to lack of transparency about its deals and the odor
of conflicts of interest. The journalistic accounts of Enron's struggles
drip with schadenfreude, hinting that its innovations and achievements
were all a mirage.
   We hold no brief regarding the legal or ethical issues under
investigation. We agree that more transparency about potential conflicts
of interest is needed. High profitability does not justify breaking the
law or ethical norms. But no matter how the current issues resolve
themselves or what fresh revelations emerge, Enron has created an
enormous legacy of good ideas that have enduring value.

   -- Deregulation and market competition. Enron envisioned gas and
electric power industries in the U.S. where prices are set in an open
market of bidding by customers, and where suppliers can freely choose to
enter or exit. Enron was the leader in pioneering this business.

   Market competition in energy is now the dominant model in the U.S.,
and is spreading to Europe, Latin America, and Asia. The winners have
been consumers, who have paid lower prices, and investors, who have seen
competition force the power suppliers to become much more efficient. The
contrary experience of California, the poster child of those who would
re-regulate the power industry, is an example of not enough
deregulation.

   -- Innovation and the "de-integration" of power contracts. Under the
old regulated model of delivering gas and electricity, customers were
offered a one-size-fits-all contract. For many customers, this system
was inflexible and inefficient, like telling a small gardener that you
can only buy manure by the truckload. Enron pioneered contracts that
could be tailored to the exact needs of the customer.

   To do this, Enron unbundled the classic power contract into its
constituent parts, starting with price and volume, location, time, etc.,
and offered customers choices on each one. Again, consumers won. Enron's
investors did too, because Enron earned the surplus typically reaped by
inventors. Arguably, Enron is the embodiment of what economist Joseph
Schumpeter called the "process of Creative Destruction." But creative
destroyers are not necessarily likable, pleasant folks, which may be
part of Enron's problem today.

   -- Minimization of transaction costs and frictions. Enron extended
the logic of de-integration to other industries. An integrated paper
company, for instance, owns forests, mills, pulp factories, and paper
plants in what amounts to a very big bet that the paper company can run
all those disparate activities better than smaller, specialized firms.
Enron argued that integrated firms and industries are riddled with
inefficiencies stemming from bureaucracy and the captive nature of
"customers" and "suppliers." Enron envisioned creating free markets for
components within the integrated chain on the bet that the free-market
terms would be better than those of the internal operations. The
development of free-market benchmarks for the terms by which divisions
of integrated firms do business with each other is very healthy for the
economy.

   -- Exploiting the optionality in networks. In the old regulated
environment, natural gas would be supplied to a customer through a
single dedicated pipeline. Enron envisioned a network by which gas could
be supplied from a number of possible sources, opening the customer to
the benefits of competition, and the supplier to the flexibility of
alternative sourcing strategies. Enron benefited from controlling
switches on the network, so that they could nimbly route the molecules
or electrons from the best source at any moment in time to the best use,
and choose when and where to convert molecules to electrons. This
policy, picked up by others in the industry, created tremendous value
for both customers and suppliers.

   -- Rigorous risk assessment. The strategy of tailored contracts could
easily have broken the firm in the absence of a clear understanding of
the trading risks that the firm assumed, and of very strong internal
controls. Enron pioneered risk assessment and control systems that we
judge to be among the best anywhere. Particularly with the advent of
Enron Online, where Enron made new positions valued at over $4 billion
each day, it became essential to have up-to-the-second information on
company-wide positions, prices and ability to deliver.

   The unexpected bad news from Enron has little to do with trading
losses by the firm, but with fears among trading partners about Enron's
ability to finance its trading activity. In a world where contracts and
trading portfolios are too complex to explain in a sound bite,
counterparties look to a thick equity base for assurance. It was the
erosion in equity, rather than trading risk, that destroyed the firm.

   -- A culture of urgency, innovation and high expectations. Enron's
corporate culture was the biggest surprise of all. The Hollywood
stereotype of a utility company is bureaucratic, hierarchical, formal,
slow, and full of excuses. And the stodgy images of a gas pipeline
company -- Enron only 15 years ago -- is even duller and slower. Enron
became bumptious, impatient, lean, fast, innovative, and demanding. It
bred speed and innovation by giving its professionals unusual freedom to
start new businesses, create markets, and transfer within the firm.

   Success was rewarded with ample compensation and fast promotion, and
an open-office design fostered brainstorming. The firm's organization
and culture was by all accounts not a safe haven for those who believe
the role of a large corporation is to fulfill entitlements for jobs.
This was a lightning rod for the firm's detractors. And yet, it could
serve as a model for more hide-bound enterprises to emulate.

   Enron was a prolific source of compelling new ideas about the
transformation of American business. It created a ruckus in once-quiet
corners of the business economy. It rewrote the rules of competition in
almost every area in which it did business. It thrived on volatility.

   The proposed sale of Enron to Dynegy risks the loss of a major R&D
establishment, especially given Dynegy's track record as a second mover
following Enron's lead. Beyond what is likely to be a difficult and
time-consuming antitrust review, Dynegy's greater challenge will be to
find a way to make Enron's spirit of innovation its own. Or so we all
should hope, because prosperity depends on the ability of firms to
reinvent themselves and remake their industries.

   ---

   Messrs. Bodily and Bruner are professors at the University of
Virginia's Graduate School of Business Administration.


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 08/02/2000
08:30 AM ---------------------------
To: Michael Walters/HOU/ECT@ECT, Harry Bucalo/HOU/ECT@ECT, O'Neal D
Winfree/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT,
Matthew Lenhart/HOU/ECT@ECT, Timothy Blanchard/HOU/EES@EES, Chad
Landry/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON, David
Baumbach/HOU/ECT@ECT, Jody Crook/Corp/Enron@ENRON
cc:

Subject: cop shock

 - FingerPig.avi


Sara/John,

Kevin Meredith is comparing the deals.  I've let him know to send the list to
both of you when finished.  We'll also include the remaining HS Resources
deals not on their spreadsheet.

thanks,
Joe


Dear Ken -

Please don't be heartbroken about the value of anyone's portfolio or stand in line to beat yourself up about it (again).

Contrary to popular opinion, there is nothing that Enron executives or Wall Street analysts can do to ruin anyone's future.  The "portfolio problem" is not loss of value, rather lack of values--people need to get some personal values that are worth a damn!

I know our current scenario wasn't a part of your vision for Enron, but stockholder anxiety just shows that most people are spiritual morons.  God promises to take care of each and every one of us under absolutely every circumstance.  People choose to ignore this; in doing so, they reject His blessings in favor of their own worries.  So be it.

You are not responsible for how we (stockholders) choose to react/respond to life's exigencies.  Certainly we might wish you had "chosen vanilla," but no financial loss is appropriate cause for anyone to feel devastated and come whining to you.  So we're down a few $ billion - this is so piddling!  God has "umpty-zillion" in money + much more important stuff to make up this perceived loss.

I sincerely hope you can find some comfort in these thoughts.

Betty

P.S.
I am very grateful for your staying with us; I know the going is extremely tough for you these days.


Kilmer stopped in to discuss where we are on the by Land portion of the
phases VI thru whatever study.  Crux of our discussion is that we need a
sit-down with you because our minds have blanked as to what Stan specifically
wanted.

I have run the numbers and I think I now have the cases on an apples and
apples basis.  To do this I had to actually go out thru Phase X,
extrapolating with Tom P's assistance.  I  thought I would have a little
writeup by this PM, but I am not going to make it. I did want to get this
note out so that we could get on your calendar.  In a nutshell, the levelized
rate for land ends up being about 10% or so higher than that for sea based on
our beliefs about the future market.  Build up faster and sea becomes more
favorable while land is unchanged.   At any rate, I'll try to get something
together in the AM, at least the graphs which I already have. (Tho I'm not
sure I can explain it on paper.)


I just wanted to RSVP for the Chinese Archaeology Exhibit on March 1.

Thanks,

Eric


Updated questions and answers for Enron employees have just been posted to http://home.enron.com/updates/qa.html
We recognize that as active employees you have special concerns and questions related to Enron's bankruptcy filing.  We regret that we are not able to answer all of your questions as quickly as you deserve, but we are working to provide accurate responses to your most important questions about employee benefits, expense payments and so on.  We appreciate your patience as we continue to try to provide timely and reliable information to you.


Pop's just called me.  He's done with his testing and he's going nuts staying
in the Hotel.  He is going home now, and will drive back tomorrow for the
test results.


---------------------- Forwarded by John J Lavorato/CAL/ECT on 12/20/99 07:34
AM ---------------------------

hargat@tdsecurities.com on 12/17/99 06:46:27 AM
To: John J Lavorato/CAL/ECT@ECT
cc: jonesd2@tdsecurities.com
Subject: collar structure

John,
Doug asked me to send you the amended model for the proposed collar structure.
You will see that is is essentially a larger version of the previous model, as
it covers the full calender year of 2000.  There are therefore 48 options
which
results in daily volume being reduced to 42K GJ/Day.  There is an amortization
schedule to the far right which calculates the implied interest rate on the
deal.  Call me if you have any questions about the model or changes you would
like to see.

Todd Hargarten
416-982-2286

(See attached file: Client.xls)

 - Client.xls


How does 3 pm look ?

Leonardo Pacheco@ENRON
02/06/2001 10:25 AM
To: Harry Arora/HOU/ECT@ECT
cc:

Subject: Re: TSS Presentation

I am open after 2:00 Pm. Let me know when I can come by your office.

Thanks!

Leonardo

Harry Arora@ECT
02/05/2001 06:34 PM
To: Leonardo Pacheco/Corp/Enron@ENRON
cc:

Subject: Re: TSS Presentation

Leonardo

Lets do one more iteration some time tomorrow.  These are looking pretty
goood.

Harry


The first deal is no good - Bob checked it out with Smitty at Prebon.

The second two were Tim Belden deals. Following are the numbers:

473320
sells El Paso
25 MW
170.00
Mid-C
Q2-01

473321
sells Grant County
25 MW
175.00
Mid-C
Q2-01

Thanks,
Kate

Evelyn Metoyer@ENRON
12/04/2000 02:31 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 12/4/00 Checkout

I am missing the following deals per Prebon for Bob Badeer:
Enron sells PGET 25 mw January Palo Verde at $260

Enron sells El Paso Q2 Mid-C at $170
Enron sells Grant County Q2 Mid-C at $175


For Customers Only:
An End of Year Special Offer from E*TRADE(R)(1)
THREE TRADES FOR THE PRICE OF TWO!

The end of the year may bring a lot of investment opportunities.  To
show our appreciation for your business, E*TRADE wants to help you
take advantage of them.  Just place three stock trade orders that
execute between 6:30 a.m. PST on December 26, 2000, and 1 p.m. PST on
December 29, 2000, and we'll credit your account for the commission
price of the most expensive trade (up to $19.95). That's it!

Warm Wishes,
The E*TRADE Team

P.S.  Remember, this is a limited-time offer.

______________________________________________________________________
(1) Offer not valid for E*TRADE Bank, IRAs, retirement, business,
custodial or club accounts. Excludes non-U.S. residents. Account will
be credited, up to $19.95, within eight weeks. Limit one bonus trading
commission per type of account. E*TRADE associates are not eligible.
E*TRADE does not offer or provide any investment advice or opinion
regarding the nature, potential, value, suitability, or profitability
of any particular security or investment strategy.

System response and account access times may vary due to a variety of
factors, including trading volumes, market conditions, system
performance, and other factors.

Copyright 2000 E*TRADE Securities, Inc. Member NASD/SIPC. All rights
reserved. E*TRADE, the E*TRADE logo, E*TRADE Bank, etrade.com, and
"the #1 place to invest online" are trademarks or registered
trademarks of E*TRADE Group, Inc., or its subsidiaries.

HOW TO UNSUBSCRIBE:
You received this e-mail because you are an E*TRADE customer. If you
do not want to receive partner e-mail offers, or any E*TRADE marketing
e-mail, you can change your preferences now at:
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You are subscribed at: joe.stepenovitch@enron.com. E*TRADE takes your
privacy seriously. To learn more about E*TRADE's use of personal
information, please read our Privacy Policy at:
http://e-trade.0mm.com/ETR119002+169322535


I was at the All Employee meeting yesterday where you mentioned you had open positions in Monterrey, Mexico.

I applied for the Plant Manager position on April 26.  Since then, I have traded countless messages with Daniel Batista from Human Resources.   His latest position (June 27) was that a hiring decision could not be made as the plant was likely to be sold.

Based on your comments, I assume the plant was never sold.  I am very interested in the position and would like to schedule a confidential meeting to discuss the position in further detail.  I believe to be the right person for the job.  I am including my resume for your review.   If that position is not available I would like to explore others.

 I will enumerate some of the skills and experience that make me the person you need to hire for this job posting:

Native Spanish Speaker (born in Mexico City)
Chemical Engineer / MBA
International Operating Experience under "Difficult Conditions"
Proven builder of relationships in Latin American Business and Political arenas
Ample Process Experience
Environmental and Health and Safety Experience in Industrial Settings
Proven multidisciplinary and multicultural team builder and leader
Lives by Enron's principles and Code of Ethics
Prepared to relocate internationally

I spent the last two years in Argentina working for Azurix reporting directly to the COO.  My official title was planning manager, however, as necessities surfaced, I took over a number of other roles including day to day operations, engineering, and public relations.

Please expect a call from me on Monday to set up an appointment.

Thanks

Mariano Gomez


MC    McNair                1
MC    Donald Hayes      1


There will be a meeting in Gerald Nemec's office today at 3:30 p.m.  His office location is 3874A.

Rae Meadows
Senior Administrative Assistant
Enron North America
1400 Smith Street
Houston, Texas 77002
713-853-9282
rae.meadows@enron.com


There are a few key people which I believe are essential to achieve our goals
in gas risk management.  They are :

Will Kelly
Kam Keiser
David Baumbach
Darron Giron
Kyle Etter

Also,  Darron Giron will be taking over my role as West controller.  I am
still considering who should take over my role over the Benchmark and Natural
Gas P&L.

Lastly,  I am scheduled to take a vacation Thursday and Friday.  I have made
sure that everyone of the controllers will be here,  and I can be reached by
pager and phone.  I can cancel this trip if need be.

Thanks,

JG


I'm not visiting you.  You're just a place to lay my head.


This request has been pending your approval for  13 days.  Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000036752&Page=
Approval to review and act upon this request.

Request ID          : 000000000036752
Request Create Date : 5/23/01 12:19:11 PM
Requested For       : harlan.murphy@enron.com
Resource Name       : Westlaw
Resource Type       : Applications


Start Date: 4/21/01; HourAhead hour: 14;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042114.txt

---- Generation Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: HARBOR
  MKT_TYPE: 2
  TRANS_DATE: 4/21/01
  UNIT_ID: HARBGN_7_UNITS


Possible penalty for Saturday's gas is below.
---------------------- Forwarded by Brian Perrone/CES/ColumbiaGas on
01/31/2000
03:25 PM ---------------------------

Marianne Stiles
01/31/2000 03:14 PM

To: Brian Perrone/CES/ColumbiaGas@ColumbiaGas
cc: Joanne Swogger/CES/ColumbiaGas@ColumbiaGas
Subject: Re: CKY 6-12 January 2000 - cut 29th 767 dth

CDC could invoke $30 per dth penalty plus the tariff cost.   I will not know
if
they will invoke this until after they close the month.

Brian Perrone
01/31/2000 03:11 PM

To: Marianne Stiles/CES/ColumbiaGas@ColumbiaGas
cc:
Subject: Re: CKY 6-12 January 2000 - cut 29th 767 dth

What are the penalties for Saturday?

Marianne Stiles
01/31/2000 07:47 AM

To: Brian Perrone/CES/ColumbiaGas@ColumbiaGas, Melissa
Flewellyn/CES/ColumbiaGas@ColumbiaGas, Joanne
Swogger/CES/ColumbiaGas@ColumbiaGas
cc:
Subject: CKY 6-12 January 2000 - cut 29th 767 dth

Over the weekend we requested 767 dth additional (just rolled the deal from
the
27th and 28th) to bring up the deliveries to match the MDQ.   However, Enron
did not realize the deal was through the whole weekend.   They only did it for
the 27th and 28th even though there are plenty of e-mails.     When I ran my
TCO reports on Friday afternoon the noms were not there.   I called Joann
(Enron scheduler) and she said she did not have time to put them in yet and
that she would get to it later as she was extremely busy with February.   I
did
not find out that the 29th did not get scheduled until Sunday morning.   I ran
my TCO reports and it was not on there.   I then paged Joann (Enron scheduler)
to find out why.    She did question the deal with Chris on Friday after I
called stating the weekend was missing.   She said she was told the deal was
only for two days (27th and 28th).   I told her that was incorrect as it was
through the entire weekend.   However, she did agree to put in the noms for
Sunday and Monday with the understanding that Chris G. would call Brian this
morning to negotiate price.   I told her the price would have calculated last
week.

To make a long story short,  we were cut 767 dth going to CKY on the 29th
(during and OFO/OMO).   Any penalties should be passed along to Enron.
Brian,
expect a call from Chris this morning.


David,

Late last week, I received a call from Kristen Kracraft, who does employment law at Dynegy.  She indicated that they would like for there to be a protocol for how to handle things if there is a desire to allow the hiring of employees from Dynegy to Enron or vice versa.  Of course, such hiring would have to be coordinated at the top of the company to avoid any type of free-for-all.  At a minimum, I would think that you and Andrea Lang would have to be the ones who make the decisions.  With that thought, I have asked Tim O'Rourke's team to work on such a protocol.

In the meantime, Kristen mentioned that one person in Rick Shapiro's group wants to go to Dynegy.  She understood that Shapiro had said it was ok.  Do you know about that?  If not, should you give Andrea a call about it?  I am concerned about the floodgate effect, so I believe we should proceed with extreme caution.

Let me know your thoughts on this.

Michelle


This is what I received from the Westwood Marquis which has undergone a
renovation.  (I replied and told them to correct the address.)  Let me know
if this is OK.  I don't know if  we can find a cheaper place, but if you
think this rate is too high I can try.  Also, I made reservations to go to
Burbank on Dec. 31 using Southwest Airlines and leaving from Oakland at
10:40 am, arriving at 11:40.  Returning on Jan. 1 at 8:15 pm and arriving at
9:20.  However, I learned from Cameron that all but your mother and I will
be going on Dec. 30 so I  will cancel that part of the reservation.  I don't
know  what your plans are for returning so I will not be making any  other
reservations unless I hear from you.  I originally made the returning
reservation at the time I did so that if we came back to the house on Monday
to watch football games and  play games we would have some time to do that.
If we don't do that we could possibly get an earlier flight back.  Your
mother doesn't want to come  back too late, so your mother and I couldn't
possibly watch a movie if Hef has one planned for later, but you might
consider that possibility.  Our check-in time at the W is 3:00 pm,  possibly
earlier.  I assume you got my message left on the answering  machine that
everyone  has been invited to the party.

-----Original Message-----
From:  whotels@whotels.com [mailto:whotels@whotels.com]
Sent: Wednesday, December 20, 2000 6:08 PM
To: ELDON@interx.net
Subject: Reservation Confirmation

 -  Reservation Confirmation.txt


George,

How are you doing.  Well, I hope.  Could you just give me a quick shout and
let me know when you think you will be able to start in our group.

Thanks,

Errol McLaughlin, X5-8274


Revised attendee list is included below.  Changes from previous version are highlighted in yellow - a few firms have been added and AIM/Van Kampen have identified their respective attendees.

Should you have any questions, please let me know.

Thanks.

 -----Original Message-----
From: 	Leboe, David
Sent:	Monday, August 06, 2001 11:17 AM
To:	Lay, Kenneth; Skilling, Jeff; Koenig, Mark
Cc:	Rieker, Paula
Subject:	ENE Share Holdings Data - Wednesday, 8/8 meeting with Goldman Sachs

With respect to the Goldman Sachs (David Fleischer and institutional investor group) meeting on Wednesday, please find a summary of attendees, respective firms and recent ENE share holdings data.

Should you have any questions, please let me know.

Regards.

David T. Leboe
Director, Investor Relations
Enron Corp.

Office  713.853.4785
Cell  713.562.2160
Fax   713.646.3002
Pager  877.237.7732
david.leboe@enron.com

<Embedded Picture (Metafile)>
<Embedded Picture (Metafile)>


I am pleased to announce that the Enron Board has elected Paula Rieker as corporate secretary, effective immediately.  She will replace Rebecca Carter, who has served in that role since 1999.  Paula will have dual reporting responsibility to me and to Jim Derrick, executive vice president and general counsel.

Paula joined Enron in 1990 and has experience in a variety of functions, including assistant treasurer for Enron Corp., vice president and chief financial officer of Enron Global Power & Pipelines, and vice president of Financial Initiatives in Accounting.  Most recently, she has been managing director of Investor Relations, where she has worked for the past four years.  Paula will continue in a dual role with IR through mid-October.  Paula has a bachelor's degree in finance from Texas A&M University, and she is a Certified Public Accountant.

Rebecca has been with the company for 11 years and served in a variety of capacities.  I want to thank Rebecca for her many years of service to Enron.  I am sorry she has decided to leave, but am grateful she will stay on through the end of January to ensure a smooth transition of her duties.

Please join me in congratulating Paula on her new responsibilities and in wishing Rebecca well in her future endeavors.


Enron Technology

	From:  Outlook Migration Team                           05/21/2001 05:00 PM

To: Cephus Gunn/GPGFIN/Enron@ENRON, Debbie Yates/GPGFIN/Enron@ENRON, Greg
Lewis/GPGFIN/Enron@ENRON, Jacquelyn Farriel/GPGFIN/Enron@ENRON, Kay
Webb/Corp/Enron@ENRON, Marsha Titter/GPGFIN/Enron@ENRON, Michael
Sullivan/Corp/Enron@ENRON, Molly Ashe/Enron@EnronXGate, Ron
Nightingale/GPGFIN/Enron@ENRON, Sandra Jones/Enron@EnronXGate, Doug
Miller/Corp/Enron@Enron, Joseph Wagner/NA/Enron@Enron, John M
Forney/NA/Enron@Enron, Juan Hernandez/Corp/Enron@ENRON, Mauricio
Trejo/Enron@EnronXGate, Miguel L Garcia/NA/Enron@ENRON, Mike
Carson/Corp/Enron@Enron, Clint Dean/Corp/Enron@Enron, Doug
Gilbert-Smith/Corp/Enron@ENRON, Eric Saibi/Corp/Enron@ENRON, Joe
Errigo/Corp/Enron@Enron, Peter Makkai/NA/Enron@Enron, Russell
Ballato/NA/Enron@Enron, Steve Olinde/Corp/Enron@Enron, Amy
Ochoa/Corp/Enron@Enron, Robert Stalford/NA/Enron@Enron, Steve H
Wang/NA/Enron@Enron, Jennifer Walker/NA/Enron@Enron, Cheryl
Cole/OTS/Enron@Enron, Chuck Goode/OTS/Enron@Enron, Cliff
McPherson/GCO/Enron@ENRON, Dick Heitman/ET&S/Enron@ENRON, Gary
Maestas/OTS/Enron@ENRON, Joe Jeffers/ET&S/Enron@ENRON, John R
Keller/OTS/Enron@Enron, Lupi Trevino/GCO/Enron@ENRON, Ping
Chen/HR/Corp/Enron@ENRON, Dean Laurent/HOU/ECT, Gretchen Lotz/HOU/ECT, Laura
Podurgiel/HOU/ECT, Rogers Herndon/HOU/ECT, Rudy Acevedo/HOU/ECT, Corry
Bentley/HOU/ECT, Kevin M Presto/HOU/ECT, Tamara Jae Black/HOU/ECT
cc:

Subject: 2- SURVEY/INFORMATION EMAIL 5-24 01

Current Notes User:

To ensure that you experience a successful migration from Notes to Outlook,
it is necessary to gather individual user information prior to your date of
migration.  Please take a few minutes to completely fill out the following
survey. Double Click on document to put it in "Edit" mode. When you finish,
simply click on the 'Reply With History' button then hit 'Send'  Your survey
will automatically be sent to the Outlook 2000 Migration Mailbox.

Thank you.

Outlook 2000 Migration Team

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

Full Name:    Juan Hernandez

Login ID:  jhernan3

Extension:  30383

Office Location:  houston

What type of computer do you have?  (Desktop)

Do you have a PDA?  If yes, what type do you have:   (Palm Pilot)

Do you have permission to access anyone's Email/Calendar?
no

Does anyone have permission to access your Email/Calendar?
    no

Are you responsible for updating anyone else's address book?
no

Is anyone else responsible for updating your address book?
no
Do you have access to a shared calendar?
no

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

Please list all Notes databases applications that you currently use:

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

What are your normal work hours?  From:   6:00 a.m.   To:      6:00 p.m.

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


To: "James Conlee \(E-mail\)" <jconlee@tradecast.com>,
<brollman@protrader.com>, <darron.c.giron@enron.com>
cc: <joe@gallup.com>, <fallen@zahrsecurities.com>, <chris@savatech.com>
Subject: FW: Prison Bitch Name Generator

What's yo name, biznitch?

 http://members.iglou.com/lyons/bitchGen.html
 <<Oz Prison Bitch Name Generator.url>>

 - Oz Prison Bitch Name Generator.url


On Monday, November 27, the Arizona Superior Court issued a judgment to CV
97-03748 (consolidated) TEP vs. ACC.  The judgment  is against the Arizona
Corporation Commission on all consolidated rules and CC&N complaints filed by
the coops and pertaining to all CC&N decisions insofar as the Commission's
Electric Competition Rules and Decisions enacted and issued pursuant to those
rules are invalid for failure to provide for the Commission ascertaining the
fair value of the property of public service corporations under Article 15&
14 of the Arizona Constitution and certain rules are invalid for lack of
Attorney General certification.

It was further ordered that the coops demonstrated as a matter of law that
the Commission's rules and CC&N decisions are unlawful and unconstitutional
under the Arizona Constitution.  Commission Decisions 59942, 61071(Emergency
Rules), 61272 (Emergency Rules made permanent) and 61969 and all Electric
Competition Rules enacted under those decisions are vacated and set aside as
unlawful and unconstitutional.  All competitive CC&N's and tariffs approved
under those decisions are also vacated and set aside as unlawful and
unconstitutional.


Sold 10,000 dth of Conger gas to TXU for 4/30/02 at $3.24, that wraps up the sales for April 2002.

Theresa, I've attached my worksheet showing how much we sold TXU for April and what price.  The daily volumes are in column M and the daily prices are in column N.  We should bill TXU for 301,000 dth and a dollar amount of $952,055.00.  Call me if you have any questions.

Thanks

 -----Original Message-----
From: 	Germany, Chris
Sent:	Friday, April 26, 2002 1:39 PM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Sold 10,000 dth of Conger gas to TXU for 4/27-29/02 at $3.05.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Thursday, April 25, 2002 10:53 AM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Sold 10,000 dth of Conger gas to TXU for 4/26//02 at $3.24

Also received a call from Jeff at Lone Star telling us to work a little harder at working off the imbalance.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Wednesday, April 24, 2002 3:22 PM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Sold 10,.000 dth of Conger gas to TXU for 4/25 at $3.29

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 23, 2002 10:49 AM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

We sold 10,000 dth of the Conger gas to TXU for 4/24 at $3.40

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, April 22, 2002 1:16 PM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick; Vos, Theresa; McMichael Jr., Ed
Subject:	RE: Sales to TXU for April 2002

OK, Kathy and Troy have pointed out how bad my previous email was.  I'm sure I was thinking about lunch.

Sabra Dinari scheduled the gas on Lone Start.  She quit on Friday.  I will be doing the scheduling until further notice.  Kathy Kelly will be my backup when I'm out.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, April 22, 2002 11:13 AM
To:	Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick; Vos, Theresa; McMichael Jr., Ed
Subject:	RE: Sales to TXU for April 2002

Sold 10,000 dth of Conger to TXU  for 4/23 at $3.37

Our scheduler, Sabra Dinari, quit on Friday so I will be handling the noms for awhile and Kathy Kelly will.  I think its easier for me to do the noms on this since I'm selling point specific gas and we are not putting this activity in Sitar/Unify.

Theresa, looks like I will be the one addressing the accounting questions.

 -----Original Message-----
From: 	Kelly, Katherine L.
Sent:	Friday, April 19, 2002 8:28 AM
To:	Germany, Chris; Mazowita, Mike; Dinari, Sabra L.; Denetsosie, Troy
Subject:	Sales to TXU for April 2002

I've sold TXU 10,000 dth at $3.14 for Sat.4/20 through Mon. 4/22

Sabra, I sold them 10,000 of Conger gas

 -----Original Message-----
From: 	Germany, Chris
Sent:	Thursday, April 18, 2002 8:24 AM
To:	Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Dinari, Sabra L.; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Lone Star Sales to TXU for April 2002

Sold TXU 15,000 dth at $3.315 for Fri 4/19/02.

Sabra, I sold them 10,000 of Conger gas and 5,000 of the Sprayberry.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Wednesday, April 17, 2002 8:20 AM
To:	Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Dinari, Sabra L.
Cc:	Hill, Garrick
Subject:	Lone Star Sales to TXU for April 2002

Sold TXU 10,000 dth at $3.17 for Thur 4/18/02.  I checked on the price with Darren Farmer at AEP and he said that's where Waha was trading so I don't feel like we are being taken advantage of too much.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 16, 2002 10:12 AM
To:	Mazowita, Mike; Kelly, Katherine L.; Dinari, Sabra L.
Cc:	Germany, Chris; Hill, Garrick
Subject:	Lone Star sales for Wed 4/17/02

Sold TXU 10,000 dth at $3.27 for Wednesday 4/17/02.


Jeff,

Here's the soft copy of what I gave you yesterday.  It does include cities, and I'm sorry if that wasn't on the hard copy.

I've got the next request out there - we'll see what happens.  Thanks again for doing the orientation yesterday.

Thanks,
Billy

 -----Original Message-----
From: 	"Krumm, Bill" <b-krumm@tamu.edu>@ENRON
Sent:	Monday, June 04, 2001 1:19 PM
To:	Lemmons Jr., Billy
Subject:	The latest of Law folks

Lets try this one...........

 <<Krumm83.xls>>

 - Krumm83.xls


Guys

I'm out of the office until Wednesday next week.  I'll chase you up for
feedback on your video interview with Thomas next week (if I don't get any
from Grant before then).

I thought I'd better clear up the fact that you're the only Research people
(except me) to have spoken to Thomas so far.  Although Vince agrees that he's
a strong candidate, Anjam was strongly opposed to Thomas's being brought in
for interview.  I thought last night's video interview was a reasonable way
to get an objective view from other Research guys.

Cheers,
Steve
(Thomas's CV attached for Dale's reference:
)


Greg:

In August I submitted an idea to Enron's ThinkBank  "Idea Vault"  for a new business opportunity for Enron. My idea is to develop a new commodity market for exchanging wireless spectrum rights. The idea is categorized under "Commodities" and is accompanied by a report which explains in more detail the idea, background information, market conditions and why it's a tremendous opportunity for Enron.

It's been 2 months since I submitted the idea, but I haven't yet received a response from anyone who may have evaluated it. I'm contacting you now for two reasons. First, it is my understanding that the Net Works group develops and launches ideas like this. And second, it's my effort to "jump start" the review process, for fears that the idea may have fallen between the cracks somewhere in the "Idea Vault" process. Included below is the preface to my report which introduces the idea for trading wireless spectrum. The entire report can be accessed and printed from the Idea Vault site, or I could send the report document electronically if that's easier.

If it's not appropriate for me to have sent you this email directly, then I sincerely apologize for the mistake. If you're typically not the person who would review an idea like this, again please accept my apology, and recommend who you think that person might be.

Thanks for your consideration,

 - Jack Franzino

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

Wireless Spectrum - Creating a New Commodity Market

One cornerstone of Enron's success is its ability to create new markets where none existed before?
not just dominate markets, or compete for increased market share, but actually create new markets.
Continuing that innovative spirit, wireless spectrum presents another opportunity to create a new market,
since no secondary market currently exists for exchanging this valuable resource. The demand for wireless
communications continues to skyrocket; however, there is a limited supply of spectrum available for
commercial use. The Federal Communications Commission is in the initial stages of change in its regulatory
policies governing spectrum allocation. Mix these regulatory changes into a market of tight supply and high
demand, and the commodity trading of wireless spectrum becomes an extraordinary opportunity for Enron.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/01/2000
04:29 PM ---------------------------

Lacima <Lacima@compuserve.com> on 01/28/2000 07:01:52 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: various items

Dear Vince,

It was pleasure talking with you the other day.

The following list consists of some of the items that we spoke about the
other day.

-  Please let us know how you and Grant would like to be mentioned in the
book, ie, position and title
-  We would appreciate it if someone at Enron would write the preface for
the book.  Please let us know if this is OK with you, who it will be, and
what you need from us.
-  Chris Strickland and I are planning to be in Houston on Feb 15th and
16th, and we would love to meet up with you and others from Enron who you
feel are most appropriate, ie, John Ambler (I will write to him as well),
derivatives traders, your team etc.
-  Chris Strickland and Les Clewlow will be conducting the following two
energy courses in Houston and in London (details below).  Please let us
know if we should reserve any places.

Energy Derivatives: Pricing and Risk Management
Houston: 29-30 March 2000
London:  3-4 April 2000

VaR for Energy Markets
Houston: 31 March 2000
London:  5 April 2000

FYI, John Ambler and I have been playing tag, and have not yet settled on
the details of the sponsorship.  However, I anticipate that when he returns
from his travels, we should be able to knock through it quickly.

I look forward to meeting you in February, and please contact me, either
via email or my mobile (+447940166177), if I can provide assistance with
anything.

Thanks,
Julie Brennan

PS - I look forward to receiving your chapter shortly :-).

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

Title: Energy Derivatives Courses

COURSE 1:   Energy Derivatives: Pricing and Risk Management
---------------------------------------------------------------------------
------------------

Course Leaders: Dr Les Clewlow and Dr Chris Strickland

Houston: 29-30 March 2000
London:  3-4 April 2000

Fee : STG 1950 / USD 2950

This is an intermediate course aimed at the Energy professional who is
familiar with energy derivative products but who requires the mathematical
foundations of derivative pricing and an understanding of the pricing and
risk management of energy derivatives.

This course assumes that participants are familiar with standard basic
option pricing theory (the Black-Scholes formula, Monte Carlo simulation,
and the use of binomial trees for option pricing).

The format for the course will follow our usual highly practical and
successful style of alternate sessions of lectures and Excel based computer
workshops. To facilitate intensive interaction, the course will be limited
to a maximum of 15 participants so early booking is advisable.

The Excel based computer workshops deal with oil and gas as well as
electricity derivatives and contain detailed calculations for pricing and
risk management. At the end of the 2 days, participants leave with a
diskette containing answers to all the workshops as well as valuable code
for pricing and simulation.

Registration fee includes: pre-course reading, course materials, copies of
relevant research materials, diskette with fully worked solutions to
computer workshops, lunch and refreshments.  Additionally, each attendee
will receive a free copy of Clewlow and Strickland's forthcoming book
"Energy Derivatives: Pricing and Risk Management".

Upon registration, participants will be sent a pack containing relevant
pre-course reading.

COURSE OUTLINE

Day 1, AM : Introduction to Energy Derivatives Modelling

     Energy derivatives - structures and applications
     Fundamentals of modeling and pricing
     Analysing energy data
     Spot price behaviour
     Building forward curves - assessing available models
     The relationship between the spot price and forward curve dynamics

Workshop : Analysing the properties of energy data - mean reversion,
volatility structures, jumps

Day 1, PM :Spot Price Models and Pricing by Simulation and Trees

     Review of spot price models
     The pros and cons of spot price models
     Pricing standard options, swaptions, caps, floors, and collars
     Simulation for spot price models
     Pricing exotic options (barriers, lookbacks, Asians, etc.)
     Building and using trees for energy derivatives
     Building trees consistent with the forward curve
     Pricing options in trees

Workshop: Using Simulation and trinomial trees to price energy
derivatives

Day 2, AM : Forward Curve Based Models

     Forward curve dynamics and forward curve models
     The relationship to spot price dynamics
     Multi-factor forward Curve Models
     Volatility function interpretation and estimation
     Pricing standard energy options
     Pricing energy swaptions
     Pricing energy exotics using simulation

Workshop : Using simulation to implement multi-factor models and price
energy options

Day 2, PM : Risk Management of Energy Derivatives

     Energy market risk and hedging
     Computing hedge sensitivities
     Determining the hedge instruments
     Hedging a energy derivatives book
     Value-at-Risk in energy markets - the pros and cons of the approaches
     Credit Risk in energy markets - issues and models

Workshop: Hedging an energy portfolio

Please feel free to e-mail us to register for this course and we will
contact you regarding payment.

-----------------------------------------------------
COURSE 2:  VaR for Energy Markets
-----------------------------------------------------

Course Leaders: Dr Les Clewlow and Dr Chris Strickland

Houston: 31 March 2000
London:  5 April 2000

Fee : STG 950 / USD 1950

This is an intermediate course aimed at the Energy professional who is
familiar with energy derivative products but who requires an understanding
of the theory and calculation of Value at Risk for energy derivative
portfolios.

The format for the course will follow our usual highly practical and
successful style of alternate sessions of lectures and Excel based computer
workshops. To facilitate intensive interaction the course will be limited
to a maximum of 15 participants so early booking is advisable.

The Excel based computer workshops deal with oil and gas as well as
electricity derivatives. At the end of the course participants leave with a
diskette containing answers to all the workshops as well as valuable code
for pricing and VaR calculations.

Registration fee includes: pre-course reading, course materials, copies of
relevant research materials, diskette with fully worked solutions to
computer workshops, lunch and refreshments.  Additionally, each attendee
will receive a free copy of Clewlow and Strickland's forthcoming book
"Energy Derivatives: Pricing and Risk Management".

Upon registration, participants will be sent a pack containing relevant
pre-course reading.

COURSE OUTLINE

Day 1, AM : Understanding the VaR methodologies and issues

     What is VaR?
     Uses of VaR
     Types of VaR methodologies
     Implications of applying the RiskMetrics assumptions in energy markets

     Delta VaR, historical simulation
     Linear and Non Linear Instruments

Workshop: Applying simple VaR methodologies in the energy market

Day 1, PM : Calculation of Energy portfolio VaR using simulation

     Modelling the energy forward curve - single and multi-factor
     Modelling the joint behaviour of different energies simultaneously
     Calculation of covariances and correlations
     Incorporating jumps
     Detailed example VaR calculation for an energy portfolio

Workshop: Simulating energy forward curves and calculation of VaR for an
energy portfolio.

Dr. Les Clewlow and Dr Chris Strickland hold Associate Research Positions
at both the School of Finance and Economics, University of Technology,
Sydney and the Financial Options Research Centre, University of Warwick,
UK.  Together they have over 20 years combined experience in the financial
and energy derivative markets and have published many articles in academic
and trade journals.  They are the authors of the book "Implementing
Derivatives Models" (Wiley, 1998) and editors of "Exotic Options: The State
of the Art" (ITP, 1998). Their forthcoming book, "Energy Derivatives:
Pricing and Risk Management," is due to be published during the second
quarter 2000.  Currently, their interests are concentrated in the energy
derivatives area, where they have developed a wide range of pricing tools
for electricity options and other energy derivatives.


If you have already provided your RSVP, thank you.  If not, please either respond to this email  or contact Donna Wackerle with your attendance.  Thank you.

It is that time again for the mandatory Annual Compliance Meeting.  This year it is scheduled for Thursday, October 25, 2001 at the Doubletree Hotel, LaSalle Room B, 8:30 am to 10:30 am.  The agenda for the meeting is as follows:

Robert George/Gil Melman	Board Seats
Richard Lauer			ECT Securities LP
Cassandra Schultz		Risk Management Policy
Bob Bruce			Chinese Wall Policy
Dave Gorte			Transaction Approval Process
Rick Carson			RAC Reporting Tools

As always, attendance is required.  We will be starting promptly at 8:30 a.m. and a continental breakfast will be served.  Please RSVP your attendance to Donna Wackerle at ext. 39755 or respond to this email.  If you have any questions, please call me at ext. 31939.  Please forward this message to your assistant to ensure it is scheduled on your calendar.   If you are aware of anybody else that should attend, please let me know and we will gladly add them to the list.

We look forward to seeing you this year!!

Donna Lowry


Steve --

Attached is the memo you asked that I draft for your signature to be sent to
Enron Government Affairs regarding Regulatory Risks.   Please feel free to
modify as you see fit.

I intended to include (1) the presentation and (2) the Risk Questionnaire
with the memo.

Jim


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Just thought I would let you know that we have a prowler in our midst. I had
about $30 worth of change (loonies and twoonies) taken from my desk drawer
between Friday and this morning.

Could have been the smed guys, the cleaning staff or the Easter bunny for all
I know.

Just thought I would mention it because Milly said he had the same thing
happen to him last week.

Chris


If you look at the attached list we are due to make a lot of these dates in
the next two weeks.  The biggest problem in Europe is probably that Edmund is
obviously out of the office and there are no dates even for his.

These delays are causing chicken and egg problems with the metals customers.
We can't mail if there are no pas etc.  The big metals roll-out is in London
first week in October so we do need them by then,

If there are re-prioritisation issues please contact Bruce Garner who needs
them for that week.

Please let me know.

Thanks

Louise

Leonardo Pacheco@ENRON
15/09/2000 11:46
To: Louise Kitchen/HOU/ECT@ECT, David Forster/Corp/Enron@Enron, Bob
Shults/HOU/ECT@ECT
cc: Savita Puthigai/NA/Enron@Enron, Carlos Alatorre/NA/Enron@Enron, Naveed
Ahmed/NA/Enron@Enron, Justin Rostant/HOU/ECT@ECT, Julie Ferrara/HOU/ECT@ECT,
Amita Gosalia/LON/ECT@ECT, Dale Neuner/HOU/ECT@ECT

Subject: EnronOnline New Markets/Products Weekly Update 9/8/00

Attached please find the latest version  of the New Markets/Products Report.
The report is updated every week.

Let me know if you have any questions

Thank you!

Leonardo Pacheco


As of January 2000, I have taken over scheduling all "Industrial Accounts"
without the assistance of
   Kenneth Seaman.

   I want to thank Ken for all of his efforts during our training period.

  Ken has help me feel confident  to continue this responsibility with
little, if any,  assistance from himself.
 Thus,   please forward all correspondence to me directly in the future.


The scheduling fee credited to your desk has been entered as an annuity.  For your info:  Deal #794560

Lisa


---------------------- Forwarded by Chris Germany/HOU/ECT on 12/29/99 11:57
AM ---------------------------

pdrexel@columbiaenergygroup.com on 12/29/99 11:26:49 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: O&R JAN 2000 NOM

Chris, they tell this is on Tennessee

Chris_Germany@enron.com on 12/29/99 10:21:16 AM
Please respond to Chris_Germany@enron.com

To: Paul Drexelius/CES/ColumbiaGas@COLUMBIAGAS
cc:

Subject: Re: O&R JAN 2000 NOM

Which pipe?

pdrexel@columbiaenergygroup.com on 12/29/99 07:36:27 AM

To:   Dan Junek/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
cc:
Subject:  O&R JAN 2000 NOM

---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on 12/29/99
07:42 AM ---------------------------

Heidi Boyd
12/29/99 07:39 AM

To: Karen Bobb/CES/ColumbiaGas@ColumbiaGas, Noel
Bartlo/CES/ColumbiaGas@ColumbiaGas, Paul Drexelius/CES/ColumbiaGas@ColumbiaGas
cc: Phil Villagomez/CES/ColumbiaGas@ColumbiaGas
Subject: O&R JAN 2000 NOM

Hi Karen,

I need   28 dth/day of firm gas flowing to O&R in Jan 2000

Sorry for the late notice.


I don't remember who I used .  Let me look and I will get back to you.


Please find attached a detailed briefing paper on the captioned order.  Ray
Alvarez


In a absolutely dead tech market, two of the EBS portfolio companies announced they were being acquired today.  StorageApps is being acquired by Hewlett Packard for $350 million, and Amber Networks is being acquired by Nokia for $421 million.  If I am not mistaken, these are the 2 largest technology acquisitions of 2001 (where only a handful of acquisitions have been made in total all year).

Net gains to Enron on both of these investments (which were both made in 2000) will be small, but the acquisitions are a verification of EBS Ventures ability to pick the best telecom investments in the market (no other single investor is in both of these deals).  Steven Sheldon and Patrick Hickey deserve tremendous credit for originating and managing these investments.

Thanks,

Kevin Garland
Enron Principal Investments


Louise, we may also have a buyer for our entire Ontario operation (staff + contracts). As you know, we have a ton of contracts/alliances that have never been marked as they are conditional on market opening. It would be a crying shame to have all of those terminate. By cc to peter, please see Louise to explain further.


Gerald,

Matt Drudge is good for at least one thing - his ongoing program of changing
normal movie names to adult names.  Check it out.

http://www.drudge.com/

Paul


How about Wednesday at 10:00 am?


I thought that you would be interested in this e-mail.

---------------------- Forwarded by Scott Healy/HOU/ECT on 09/20/2000 02:09
PM ---------------------------

Terri Austin@ENRON_DEVELOPMENT
09/20/2000 02:05 PM
To: Scott Healy@ECT, Stephen Plauche@ENRON
cc: Heather Kroll@ECT, Michael D Nanny/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: BOP list +

Scott,

I have attached a document that encompasses items that power systems included
in there estimate, items that are not in their estimate and some parts that
need to be clarified.

Below is my itravel arrangements for next week.

We fly into LaGuardia then  drive to Torrington that evening.

Hope all this helps.

Terri

                                                   SALES AGT: CG/YN992U

                                          AUSTIN/TERRI L
                                          3 AC SUITE 1334A
                                          E-TKT RECEIPT
  ENRON CORP

  DATE:  SEP 19 2000

SERVICE               DATE  FROM           TO             DEPART  ARRIVE

CONTINENTAL AIRLINES  27SEP HOUSTON TX     NEW YORK NY    400P    845P
CO 1976    Y          WED   G.BUSH INTERCO LA GUARDIA
                            EQP: BOEING 737-300
                            RESERVATION CONFIRMED

CAR                   27SEP NATIONAL               NEW YORK NY
                      29SEP CONFIRMATION: 308128477COUNT
                            INTERMED CAR AUTOMATIC AIR
                            RATE: USD61.25DY-UNL MI
                            RATE QUOTED
                            BASE RATE: *ZL*USD122.50 BR-2DY

HOTEL                 27SEP DAYS INN TORRINGTON-10828
                      28SEP 395 WINSTED ROAD
                            TORRINGTON, CT 06790
                            TELEPHONE: 1 860 496 8808
                            CONFIRMATION: 52742704
                            RATE: HFH USD 67.96 PER NIGHT
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           YOUR HOTEL IS GUARANTEED FOR LATE ARRIVAL. TO AVOID
        BILLING PLEASE CANCEL 24HRS PRIOR BY 6PM DAY OF ARRIVAL.

CONTINENTAL AIRLINES  28SEP NEW YORK NY    HOUSTON TX     559P    857P
CO 1959    Y          THU   LA GUARDIA     G.BUSH INTERCO
                            EQP: BOEING 737-300
                            RESERVATION CONFIRMED

MISCELLANEOUS         27NOV HOUSTON TX
                      MON   ** THANK YOU FOR USING THE TAP **

RESERVATION NUMBER(S)  CO/ILPHZT

AUSTIN/TERRI L  S8C0082R1024

CO  FREQUENT FLYER COEG490278
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