From:  Pete

To:  Ken

Date: Friday, October 6, 2000

THE HILL REPORT
A Weekly Newsletter from Congressman Pete Sessions
Week of September 30 - October 6, 2000

This Week in Washington, the United States House of Representatives
continued its work on the appropriations process for funding of the
fiscal year of 2001.  The House passed the conference reports on
the energy, interior and transportation appropriations bills.   We
also passed a continuing resolution agreement that will keep the
government running until all 13 appropriations bills are passed and
signed into law by the president.

On Monday of this week, as Chairman of the Congressional Results
Caucus and a member of the Congressional Cyber Security Caucus, I
toured the high-tech corridor of Boston, Massachusetts today to learn
about high-tech issues such as information security, e-signature
legislation and Internet taxation.

I organized the trip to draw attention to the need for more implementation
of information technology security not only among federal and other
governmental agencies but in the private sector as well.  The Congressional
Cyber Security Caucus exists in part to educate other members of
Congress and government agencies of the vital need for secure information
technology systems.

The trip came on the heels of a recent General Accounting Office
(GAO) report to Congress that clearly stated that too many government
operations and assets remain at risk of cyber attack.  The GAO discovered
serious security flaws at major federal agencies such as the Treasury
Department and the Department of Defense - situations clearly indicating
large potential threats to citizen privacy and national security.

Some of the computer systems that run our national defense and military
operations are literally an open target to hostile nations or terrorists
who have cyber terrorism technology.  Both accidental and intentional
attacks on these very systems have been detected and we must take
steps to stop them.

I was joined by Rules Committee Chairman David Dreier (R-CA), Congressman
Tom Davis (R-VA), Congressman Pete Hoekstra (R-MI), Congresswoman
Nancy Johnson (R-CT), Congressman John Sununu (R-NH), Congressman
Jack Quinn (R-NY), Congressman John Sweeney (R-NY), and other prominent
business, community and financial leaders.

We attended a meeting at the Massachusetts Institute of Technology
with area CEOs and high-tech leaders, representing the financial,
communications and technology community.  The discussion was hosted
by TechNet Massachusetts to discuss creating digital opportunities,
H-1B visas, protection of online privacy, and taxation of Internet
transactions.

I believe that any government agency using information systems and
is linked to the outside world MUST have an efficient and secure
information security system.  The potential privacy and security
threat is not something we should take lightly and unfortunately
too many high-level government officials are doing just that!

Any major business, industry or government organization must consider
the threat of cyber attack and how it could be a devastating situation
to customers and citizens.  I can't imagine any of my constituents
being interested in having their private banking information being
made public to anyone on the Internet.  Security and privacy must
be a priority and the businesses and organizations that possess this
sensitive information can not afford the risk of intrusion.

Members also met with high-tech officials, Governor Paul Cellucci
(R-MA), and Lt. Governor Jane Swift (R-MA) to discuss the future
of the information technology industry as well as pending legislation
in Congress designed to address the pressing needs of New Economy
companies.

Earlier this year, I digitally signed the "The e-Contract 2000" with
high-tech America to renew his commitment to promoting the New Economy
in the 21st century.

I pledge to continue my legislative and oversight efforts to remove
the barriers to future innovation, competition, and growth.  Freedom
is the answer, not government intervention.
The New Economy has created limitless opportunities in America today
for consumers, companies and workers alike.

The e-Contract 2000 outlines a number of policies the Republican-controlled
Congress has designed to promote continued growth in the New Economy,
such as "Reducing Taxation, Regulation, and Litigation" and "Promoting
Free Trade and E-Commerce."

Also this year I voted for continued growth in the new economy by
supporting the "Internet Non-Discrimination Act" (H.R. 3709), to
extend the current Internet tax moratorium for an additional 5 years,
through 2006.  The bill passed in the U.S. House of Representatives
by a vote of 352-75.

The tremendous growth of e-commerce has created thousands of high-wage
jobs in this country and has led to countless new choices for Texas
consumers.  The group with me today believes the New Economy should
remain unfettered by burdensome taxes and regulation, to ensure continued
growth and innovation into the 21st century.

Around Texas...

Last Friday, I spoke to the advanced placement Government and Economics
classes at Palestine High School.  I pointed out to them that our
Constitutional form of government is really just an on-going experiment,
and that the continued success of our country depends on the participation
of all of our citizens.  I told them that I am confident that we
can solve every problem in America.  I always enjoy speaking with
enthusiastic young people, and I want to give every student an opportunity
to experience and understand our government.

On Saturday I went to the St. Thomas - Aquinas children's carnival,
and that evening I attended a fundraising event to benefit "For the
Love of the Lake."  This is one of my favorite community projects.
 I have adopted part of the shoreline of White Rock Lake, and would
encourage all of you to come help out at our "Second Saturday Clean-up."
 See my web site for more information.

Tomorrow I will see my friends in Anderson County at the Anderson
County Cattle Baron's Ball.  And in two weeks, I will be in Bryan
for a Town Hall Meeting.  See the notice at the end of this e-mail.

Next week Congress is hoping to finish its work on the budget for
fiscal year 2001.

Have a great weekend! - Pete

>>>  Town Hall Meeting <<<
Brazos and Robertson County Town Hall Meeting
WHEN: Saturday, October 21, 2:00 pm - 3:30 pm
WHERE: GTE Building
501 Industrial Blvd
Bryan, Texas

Have an old cell phone?  Donate it and save a life.......
http://www.house.gov/sessions/calltoprotect.htm

==========================================
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Please do not use your "REPLY" button to reply to this e-mail.  The
"REPLY TO" address at the top of this e-mail
("email_newsletter@mail.house.gov")
is used by our computer system to maintain our list of subscribers.

Visit my web site at:
http://www.house.gov/sessions

Each week we add a number of new recipients to our mailing list.
 If you accidentally received two copies of this e-mail, please feel
free to recycle the extra copy, or pass it on to a friend.

If you wish to no longer receive this weekly newsletter, please send
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This newsletter was printed using recycled electrons.
==========================================


As we just discussed, Hess would like to conclude five (5) ISDA Master
Agreements with Enron companies as follows:

 1. Amerada Hess Corporation and Enron North America Corp.
 2. Hess Energy Services Company, LLC and Enron North America Corp.
 3. Hess Energy Trading Company, LLC and
  a. Enron Liquid Fuels, Inc
  b. Enron Capital & Trading Resources Singapore Pte. Ltd.
  c. Enron Capital & Trade Resources International Corp.

I am told that trading with Amerada Hess Corporation and Hess Energy
Services Company, LLC via Enron On-line is restricted by Enron due to the
lack of an ISDA Master Agreement. Therefore, an expeditious conclusion of
agreement would be most appreciated.

To expedite the negotiations, perhaps we can use the ISDA Master Agreement
between Hess Energy Trading Company, LLC and Enron Capital & Trade Resources
Corp. dated January 29, 1998 as the starting point.

As with January 29, 1998 agreement, Amerada Hess Corporation will be the
Credit Support Provider for Hess Energy Services Company, LLC and Hess
Energy Trading Company, LLC. Attached is the most recent standard form of
guaranty.

 <<STANDARD GUARANTY (HESS).doc>>

Please revert at your earliest convenience.

Thank you.

Charles F. Cerria, Esq.,
Manager of Compliance
Telephone (212-536-8531)
Facsimile (917-342-8810)

 - STANDARD GUARANTY (HESS).doc


Thank you all for your interest in going to the Jones acceptance dinner next week.  Unfortunately, all of the spaces are filled up!

Julie

 -----Original Message-----
From: 	Davidson, Julie
Sent:	Tuesday, October 16, 2001 11:48 AM
To:	Adler, Jon; Alkhayat, Alhamd; Andrews, Chuck; Baker, Marilyn N; Barcio, Bernie; Bay, Frank; Bilberry, Michael; Blick, Martin; Cash, Trey; Chen, Hai; Chilkina, Elena; Courtney, Mark; Dye, David; Gandhi-Gupta, Shruti; Gim, Steve; Gualy, Jaime; Hammond, Pearce; Hensel, David; Hotze, Sarah; Israni, Rakhi; Jett, Ken; Juden, Michelle; Kean, Steven J.; Kendall, Heather; Kendrick, William; Kiani-Aslani, John; Little, Kelli; Litton, Todd; Maniar, Aamir; Maskell, David; McVicker, Maureen; Memari, Tooran; Miles, Andrew; Naik, Abhijeet; Nash, Tim; Nazareth, Lynn; Porter, Scott; Puthigai, Savita; Quilkey, Paul; Roblee, Kyle; Saadia, Danielle; Sampson, Zachary; Sewell, Doug; Shahi, Pushkar; Smith, Shauywn; Sokolov, Jason; Sonneborn, Chris; Spector, Brian; Stenhouse, Steve; Sudduth, Julia; Suttle, John; Varnell, Charles; Votaw, Waymon; Walt, John; Wangenheim, Kurt; Warner, Traci; Wheeler, Rob; Wheelock, Carlos; Williams, Jason R (Credit); Wilson, Andrew; Wilson, John L.; Windle, Bill; Yuan, Ding
Subject:	 Cultivation dinner for Jones Super Saturday participants

Hello Everyone,

As many of you know, we held Rounds 1 and 2 of Rice MBA  interviews last week.  As a result of those interviews, 8 candidates will be joining us for Super Saturday interviews November 2 - 4.  These candidates are Scott Arndt, Luigi Calabrese, Ivy Ghose, Chris Hysinger, Saul Keeton, Joe Rozelle, Josh Weber, and Joan Williams.

To help them prepare for their Super Saturday interviews and answer any questions they may have about the Program or Enron in general, we will be taking the candidates to a casual dinner on Monday, October 22.

Date:  Monday, October 22, 2001
Time:  7:00 pm
Location:  Carrabba's Italian Grill (3115 Kirby Drive)

By this email, I am requesting 5 volunteers to join us.  Please contact me if you are interested, and the first 5 of you to respond will be joining in the fun!

Thank you,

Julie Davidson
Analyst & Associate Program, Recruiting


***** YOUR OPINION COUNTS: TELL US YOUR PRIORITIES *****

Please take a minute to fill out a brief on-line survey and let us know
what issues you want to see covered in Greenwire!
Go to http://www.eenews.net/Greenwire/gwsurvey.htm

Our thanks to those of you who have already filled this out -- your
feedback has been terrific!
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In today's GREENWIRE:

TOP STORY: BUSH SPEECH FORESHADOWS BUDGET CRUNCH, ENERGY BILL BATTLE
President Bush laid the groundwork Tuesday during his State-of-the-Union
speech for the largest increase for defense spending in two decades.
Coupled with upwards of $35 billion for homeland security spending, many
Democrats left the House chamber following the joint session with concerns
that other domestic priorities, including the environment, will be squeezed
during the FY '03 appropriations process.

*** Click here to read this story and many more!
http://www.greenwire.com ***

20 STORIES MAKE IT INTO GREENWIRE TODAY; HERE ARE SOME HEADLINES:

*  BUDGET: Bush speech mentions environment, presses Daschle on energy
*  CLIMATE CHANGE: Jeffords pledges action to foreign legislators
*  ENERGY POLICY: GOP considers attempt to block GAO lawsuit
*  ENERGY MARKETS: West applauds FERC investigation of Enron role in power
crisis
*  ENERGY POLICY: Memo highlights Cheney-Enron connection
*  PLUTONIUM: DOE's plutonium plan worries S.C., activists
*  SHARKS: Enviros sue NMFS for allowing overfishing of sharks
*  NATIONAL MONUMENTS: Bush team considers San Rafael Swell site
*  WATER POLLUTION: U.S. discharge 1.2 trillion gallons of raw sewage
yearly, EPA says
*  YUCCA MOUNTAIN: Nevada panel votes to support veto of waste dump
... AND MUCH MORE!

ENRON SPECIAL REPORT
Get up to speed fast on the political and policy questions surrounding the
Enron collapse.
The report includes summaries of and links to over 90 newspaper editorials
and op-eds.
http://www.eenews.net/sr_enron.htm

NEED PASSCODES? Call David or Kristen at 202-628-6500 or email
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written and produced by the staff of E&E Publishing, LLC,
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Editor-in-Chief: Kevin Braun
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Account Executives: David Andrew Horna, Kristen Barlow
Operations Associate: Louis R. Reeder


Good Morning Jeff!
Contrary to popular belief, there are conversions that can be used, that will
reasonably convert the various units of measure.  I took a moment to compile
them into the attached spreadsheet.  Enjoy!

Jeff Dasovich on 05/11/2000 07:23:49 PM
To: James D Foster/DUB/EES@EES
cc:
Subject: Re: SoCal CAD Accounts

Quick question:  Most folks think in terms of MMcf.  I know there isn't a
straighforward crossward from therms to MMcf, but do you folks have any rules
of thumb about BTU content I could use to translate the therm numbers you
sent into MMcf?  Thanks a lot.

Jeff


To All:

Today we funded the sale of the Haina Note.  Enron Caribe Ltd. received approximately $14.5 million.

Brian Zatarain, Coralina Rivera, and Darleene McKeever were instrumental in getting the transaction documented, approved, and funded in a very short timeframe.

Dan


Thank you to everyone who participated in the Portland employee volunteer interest survey - we appreciate your feedback.

While monetary and in-kind gifts are important, hands-on volunteers are the lifeblood of any community agency. At Enron, we recognize that we are all stakeholders when it comes to the success of our communities. Over the years, Enron employee volunteers have provided helping hands, intellectual capital and skilled labor to non-profit agencies. We hope that by identifying some volunteer opportunities that interest Portland employees we will not only have the experience of contributing to the Portland community, but also build stronger teams within our own organization. We also believe that everyone will have some fun!

For those who have not yet had time to answer the survey, we did extend the deadline for one more week. Please take a few minutes and let us know what you think about volunteer opportunities by clicking on the link below. If you have questions about the survey, please send an e-mail to community-relations@enron.com.

Thank you,

Chris Calger and Tim Belden

http://etcsurvey.corp.enron.com/wi/p0625475/i.asp?r=37&s=DXOKGTRY&l=9


Please advise what direction Doug should take and let me know what I can do
to help him with this matter.

Thanks.
---------------------- Forwarded by Anne Labbe/NA/Enron on 12/20/2000 02:22
PM ---------------------------

	From:  Kim Melodick @ ECT                           12/20/2000 11:08 AM

To: Anne Labbe/NA/Enron@Enron
cc: Doug Gilbert-Smith/Corp/Enron@ENRON

Subject: dental info

Anne please look into this issue with Irma for Doug. Let me know what I can
do to assist.
---------------------- Forwarded by Kim Melodick/HOU/ECT on 12/20/2000 11:03
AM ---------------------------

Doug Gilbert-Smith@ENRON
12/20/2000 08:06 AM
To: Kim Melodick/HOU/ECT@ECT
cc:
Subject: dental info

Kim,

Not sure what we need to do to resolve this. I calculated my overall coverage
vs. cost at is was a palty 42%...

Please let me know where I need to head in trying to resolve this.

Thanks again,

Doug

---------------------- Forwarded by Doug Gilbert-Smith/Corp/Enron on
12/20/2000 07:38 AM ---------------------------

"Gilbert-Smith, Killian" <Killian.Gilbert-Smith@sci-us.com> on 12/19/2000
03:05:04 PM
To: "'Doug.Gilbert-Smith@enron.com'" <Doug.Gilbert-Smith@enron.com>
cc:

Subject: dental info

Maybe I/you should complain to the benefits department regarding the dental
insurance situation. Serena (at Dr. Crowe's office) said she talked to a
Mary C. at Met Life in July, 2000. Mary said Met Life covered 80% of the
occlusal adjustment (code #9952). Then when I called yesterday they said it
has never been covered and MetLife has rejected the claim which means we
have to pay another $400. Let me know the benefits number and I will give
them a call.

Thanks!

Killian Gilbert-Smith


This is a potential deal for the GAS TRADING  RAC group.
I'll keep you posted as I find out something.

----- Forwarded by Bradford Larson/HOU/ECT on 02/12/2001 05:13 PM -----

	Chip Schneider@ENRON
	02/09/2001 01:24 PM

		 To: Bradford Larson/HOU/ECT@ECT
		 cc:
		 Subject: PEAK 2001A RFP

Let's talk about this Monday.

Regards,

Chip Schneider
EB2852
x3-1789
----- Forwarded by Chip Schneider/NA/Enron on 02/09/2001 01:26 PM -----

	Phil DeMoes
	02/09/2001 09:42 AM

		 To: Chip Schneider/NA/Enron@Enron
		 cc:
		 Subject: PEAK 2001A RFP

---------------------- Forwarded by Phil DeMoes/Corp/Enron on 02/09/2001
09:46 AM ---------------------------

"Radel, Judy F" <judy.f.radel@bankofamerica.com> on 02/05/2001 04:47:29 PM
To: phil.demoes@enron.com
cc:

Subject: PEAK 2001A RFP

February 5, 2001

Mr. Phil DeMoes
ENRON

Subject:   The Public Energy Authority of Kentucky
             2001 Long-term Gas Supply Acquisition Proposal

Dear Mr. DeMoes:

The Public Energy Authority of Kentucky ("PEAK") is a non-profit Joint
Action Agency created under the statutes of the Commonwealth of Kentucky to
provide natural gas supply and associated services to municipal gas systems.
PEAK is requesting proposals from natural gas suppliers for the purpose of
meeting its natural gas supply obligation to existing and new Members.
Using the proceeds of its Series 2001 A Taxable Bonds, PEAK will make a
one-time advance payment to the Supplier, for a supply of natural gas for
delivery at Texas Gas Transmission Zone SL and Tennessee Gas Pipeline Zone 1
for specific daily quantities totaling between 34,000 and 53,000 MMBtu over
a ten-year period (approximately 160Bcf).

Please find the attached detailed information regarding the proposed
transaction to assist with your evaluation.  Specifically, the enclosures
include the following:

1. Term Sheet and Request for Proposal
2. Natural Gas Purchase and Sale Agreement ("GPA") between PEAK and the
Supplier
3. Summary of Daily/Monthly Volumes
4. Spreadsheets indicating the Prepay Calculation

PEAK requests a written response via regular mail, courier service or
electronic response by close of business Friday, February 23, 2001.
Responses should be submitted to:

  Public Energy Authority of Kentucky
  Attn: Gerald Ballinger, President and General Manager
  516 Highland Avenue
  P.O. Box 299
  Carrollton, Kentucky 41008
  Phone:  502-732-0991
  Fax: 502-732-8777
  E-mail: ballinger.peak@mindspring.com

If you have any questions regarding this information, please call or e-mail
as noted above.  PEAK greatly appreciates your interest in this Project and
very much looks forward to your response.

Sincerely,

Gerald L. Ballinger
President & General Manager
 <<PEAK2001 1-18 10yr for RFP.xls>>           <<PEAK2000 GPA
10-23-2000.PDF>>        <<PEAK2001 Term Sheet and RFP.doc>>

Judy Radel, Administrative Assistant
Denver Public Finance Department
Banc of America Securities LLC
1-800-861-4506 or (720) 932-1380
(720) 932-1386 (fax)
CO1-001-01-01

 - PEAK2001 1-18 10yr for RFP.xls
 - PEAK2000 GPA 10-23-2000.PDF
 - PEAK2001 Term Sheet and RFP.doc

----- Forwarded by Chip Schneider/NA/Enron on 02/09/2001 01:26 PM -----

	Phil DeMoes
	02/09/2001 12:58 PM

		 To: Chip Schneider/NA/Enron@Enron
		 cc: Frank W Vickers/NA/Enron@Enron
		 Subject: SEAGD Model

Chip,

FYI.   This is the model we used to evaluate the last mun-prepay in our
shop.  Mark Breese in our structuring group is going to get with Brad Larson
and see if we can set up a time to discuss.

Thanks.
Phil DeMoes x 37912
---------------------- Forwarded by Phil DeMoes/Corp/Enron on 02/09/2001
12:57 PM ---------------------------

Eric Boyt
02/09/2001 12:55 PM
To: Phil DeMoes/Corp/Enron@ENRON
cc:

Subject: SEAGD Model

As requested... one is the model and one is the summary response to the
customer.

Eric


Krishna,

We have to talk to Shirley and she will take care of it.
Let's catch her ASAP.

Vince

Pinnamaneni Krishnarao
08/10/2000 12:25 PM
To: Vince J Kaminski/HOU/ECT@ECT, Vera Apodaca/ET&S/Enron@ENRON
cc:
Subject: Re: Research and Development charges to GPG

I have no idea about this. Vince - Can you help?
thanks
Krishna.

08/09/2000 03:26 PM
Vera Apodaca@ENRON
Vera Apodaca@ENRON
Vera Apodaca@ENRON
08/09/2000 03:26 PM
08/09/2000 03:26 PM
To: Pinnamaneni Krishnarao/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Research and Development charges to GPG

Per mail dated June 15 from Kim Watson,  there was supposed to have occurred
a true-up of $274.7 in July for the fist six months of 2000.  Reviewing July
actuals,  I was not able to locate this entry.  Would you pls let me know
whether this entry was made,  if not,  when do you intend to process it .
thanks.


Phil,

Wednesday would work for me.

Vince

08/21/2000 07:22 PM
Phil Sisneros@ENRON COMMUNICATIONS
Phil Sisneros@ENRON COMMUNICATIONS
Phil Sisneros@ENRON COMMUNICATIONS
08/21/2000 07:22 PM
08/21/2000 07:22 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:

Vince:

i'm in town wed/thurs/fri--let me know if dinner on wed or thurs works for you


This conference call is for a "status-check" on the Alberta pre-pay.

Both the US and Canada should call 1-888-422-7109
Participant code# 630795

Dial #0 at any time for operator assistance.


what's up froggy.  we've finally slowed down over here. give me a call today
if you get a chance.  713.853.0383


I'll send the beer boy, but I don't have your home email.


Julie,

The introduction looks fine. I have made some cosmetic changes
(typos and split infinitives that slipped by). You can safely ignore most of
them.
English is not even my second language.

The corrections are in pink.

Vince

"Julie" <julie@lacima.co.uk> on 08/01/2000 07:43:10 AM
To: "VinceJKaminski" <Vince.J.Kaminski@enron.com>
cc:
Subject: Preface for book

Vince,
?
Hope you are well.
?
We spoke a while ago about who should write the preface for the book, and
you kindly offered that you would provide this.? Is this still  possible?? We
realise that you are extremely busy, so Chris and Les went  ahead and wrote
something, which is below, and if you want to review, change or  re-write?the
preface, that would be very appreciated.? Let me know  what your thoughts are.
?
Thanks,
Julie
(we're getting close)
?
?

Preface

?

?

?

One of our main objectives in  writing Energy Derivatives: Pricing and Risk
Management has been to bring  together as many of the various approaches for
the pricing and risk management  energy derivatives as possible, to discuss
in-depth the models, and to show how  they relate to each other.? In this
way we hope to help the reader to analyse the different models, price a wide
range of energy derivatives, or to build a risk management system which uses
a  consistent modelling framework.? We  believe that for practitioners this
last point is very important and we continue  to stress in our articles and
presentations the dangers of having flawed risk  management and giving
arbitrage opportunities to your competitors by using  ad-hoc and inconsistent
models for different instruments and markets (see also OTHERS WHO PROPOSE
CONSISTENT  MODELS?).? However, it is not  our wish to concentrate on one
particular model or models, at the exclusion of  the others because we
believe that the choice should rest with the user  (although it will probably
be clear from our discussions the model(s) we  prefer).? We therefore try and
give  as clear account as possible of the advantage and disadvantages of all
the  models so that the reader can make an informed choice as to the models
which  best suit their needs.

?

In order to meet our objectives the  book is divided into 11 chapters.?  In
chapter 1 we give an overview of the fundamental principals needed to  model
and price energy derivatives which will underpin the remainder of the  book.?
In addition to introducing  the techniques that underlie the Black-Scholes
modelling framework we outline  the numerical techniques of trinomial trees
and Monte Carlo simulation for  derivative pricing, which are used throughout
the book.

?

In Chapter 2 we discuss the  analysis of spot energy prices.? As  well as
analysing empirical price movements we propose a number of processes  that
can be used to model the prices.?  We look at the well-know process of
Geometric Brownian Motion as well as  mean reversion, stochastic volatility
and jump processes, discussing each and  showing how they can be simulated
and their parameters estimated.

?

Chapter 3, written by Vince  Kaminski, Grant Masson and Ronnie Chahal of
Enron Corp., discusses volatility  estimation in energy commodity markets.?
This chapter builds on the previous one.? It examines in detail the methods,
merits and pitfalls of the volatility estimation process assuming different
pricing models introduced in chapter 2.?  Examples from crude, gas, and
electricity markets are used to illustrate  the technical and interpretative
aspects of calculating volatility.

?

Chapter 4 examines forward curves  in the energy markets.? Although  such
curves are well understood and straight-forward in the most financial
markets, the difficulty of storage in many energy markets leads to less well
defined curves.? In this chapter we  describe forward price bounds for energy
prices and the building of forward  curves from market instruments.? We
outline the three main approaches which have been applied to building
forward  curves in energy markets; the arbitrage approach, the econometric
approach, and  deriving analytical values by modelling underlying stochastic
factors.

?

Chapter 5 presents an overview of  structures found in the energy derivative
markets and discusses their uses.? Examples of products analysed in this
chapter include a variety of swaps, caps, floors and collars, as well as
energy  swaptions, compound options, Asian options, barrier options, lookback
options,  and ladder options.

?

Chapter 6 investigates single and  multi-factor models of the energy spot
price and the pricing of some standard  energy derivatives.? Closed form
solutions for forward prices, forward volatilities, and European option
prices  both on the spot and forwards are derived and presented for all the
models in  this chapter including a three factor, stochastic convenience
yield and interest  rate model.

?

Chapter 7 shows how the prices of  path dependent and American style options
can be evaluated for the models in  Chapter 6.? Simulation schemes are
developed for the evaluation of European style options and applied to a
variety  of path dependent options.? In order  to price options which
incorporate early exercise opportunities, a trinomial  tree scheme is
developed.? This tree  is built to be consistent with the observed forward
curve and can be used to  price exotic as well as standard European and
American style options.

?

Chapter 8 describes a methodology  for valuing energy options based on
modelling the whole of the market observed  forward curve.? The approach
results  in a multi-factor model that is able to realistically capture the
evolution of a  wide range of energy forward curves.?  The user defined
volatility structures can be of an extremely general  form.? Closed-form
solutions are  developed for pricing standard European options, and efficient
Monte Carlo  schemes are presented for pricing exotic options.? The chapter
closes with a discussion of  the valuation of American style options.

?

Chapter 9 focuses on the risk  management of energy derivative positions.?
In this chapter we discuss the management of price risk for institutions
that trade options or other derivatives and who are then faced with the
problem  of managing the risk through time.?  We begin with delta hedging a
portfolio containing derivatives and look  at extensions to gamma hedging )
illustrating the techniques using both spot and  forward curve models.? The
general  model presented in Chapter 8 is ideally suited to multi-factor
hedging of a  portfolio of energy derivatives and this is also discussed.

?

Chapter 10 examines the key risk  management concept of Value at Risk (VaR)
applied to portfolios containing  energy derivative products.? After
discussing the concept of the measure, we look at how the key inputs
(volatilities, covariances, correlations, etc) can be estimated.? We then
compare the fours major  methodologies for computing VaR; Delta, Delta-gamma,
historical simulation and  Monte-Carlo simulation, applying each to the same
portfolio of energy  options.? In this chapter we also  look at testing the
VaR estimates for various underlying energy market  variables.

?

Finally, in Chapter 11 we review  modelling approaches to credit risk.?  We
look in detail at two quite different approaches, CreditMetrics (J. P. Morgan
(1997)) and  CreditRisk+ (Credit Suisse Financial  Products (1997)) for which
detailed information is publicly available.? Together these provide an
extensive set  of tools with which to measure credit risk.? We present
numerical examples of  applying these techniques to energy derivatives.

?
Before  we begin we stress that the models and methods we present in this
book are tools  which should be used with the benefit of an understanding of
how both the +tool,  and the market works.? The  techniques we describe are
certainly not &magic wands8 which can be waved at  data and risk management
problems to provide instant and perfect solutions.? To quote from the
RiskMetrics Technical  Document &( no amount of sophisticated analytics will
replace experience and  professional judgement in managing risk.8.?  However,
the right tools, correctly used make the job a lot  easier!


FYI.

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 04/27/2000
01:05 PM ---------------------------

Tammy Ting-Yuan Wang <dasyuan@yahoo.com> on 04/27/2000 12:36:13 PM
To: Shirley Crenshaw <Shirley.Crenshaw@enron.com>
cc:
Subject: Re: Telephone Interview with the Research Group

Dear Ms. Crenshaw,

Thank you for giving me a chance to talk to you.
However, I have already got an offer from another
company. I will start working as a full time after I
graduate in May.

Thank you for taking time reviewing my resume.
Have a nice day.

Sincerely,
Tammy Wang

--- Shirley Crenshaw <Shirley.Crenshaw@enron.com>
wrote:
>
>
> Good morning Tammy:
>
> The Enron Corp. Research Group would like to conduct
> a telephone
> interview with you at your convenience.   This will
> be as a "summer
> Intern" with the Research Group.
>
> Please let me know your availability on Monday, May
> 1st or Thursday;
> May 4th.
>
> The persons who will be interviewing you are:
>
> Vince Kaminski      Managing Director
> Stinson Gibner      Vice President
> Krishna Krishnarao  Director
> Osman Sezgen        Manager
>
> I look forward to hearing from you.
>
> Thank you and have a great day
>
> Shirley Crenshaw
> Administrative Coordinator
> 713-852-5290
>
>
>
>

__________________________________________________
Do You Yahoo!?
Talk to your friends online and get email alerts with Yahoo! Messenger.
http://im.yahoo.com/


Here's a cut at the taxonomy of regulatory risks associated with Direct Access. Please let  us know if the list looks about right.

FYI:  Sue and I are scheduled to travel to Portland to sit down with Steve Swain & Co. in the attempt to ensure that the folks managing the book are well briefed on the regulatory risks.

Finally, note that though the risks listed below are linked to PUC actions, the California Legislature could take actions that could trigger the same risks.  For example, the Legislature could pass a bill directing the PUC how to allocate costs associated with the utilties' undercollection, the bonds issued to recover general fund money used to purchase power, DWR's long term contracts, etc.

Best,
Jeff

1.	Retroactive Suspension of DA Contracts:  The PUC rules in a subsequent decision that DA is suspended on some date 	between July 1 and September 20th.

2.	Contract renewal forbidden:  The PUC includes contract renewal under the suspension of DA.

3.	No incremental "DASR'ing":  The PUC includes incremental additions and subtractions of DA customer's load under the 	suspension of DA (e.g., fast food chains, University campus)

4.	Cost allocation: The PUC adds new costs to DA accounts and/or disproportionately shifts existing costs to DA accounts.  	Costs with the greatest risk of being shifted to DA customers include: IOU undercollection, bonds to repay the state general 	fund, and DWR contracts.  The costs associated with these categories are substantial.

Additional suggestions from Mike Day:

5.	DASR processing :  If the utilities attempt to implement the Commission-ordered suspension in an onerous way, it may 	put at risk contracts executed prior to 09.20.01 but not yet DASR'd.

6.	Confidentiality of contract information:  The utilities and/or the PUC may require ESPs to show contracts as proof 		that contracts were executed prior to 09.20.01.


I believe this was suppossed to be a much bigger deal.  There was some
confusion between CES and Eagle Point and it ended up just being more or less
and exchange deal on ANR and a transport deal on CGAS.

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Sale/Purchase with Eagle Poin

Chris,

Everything looks fine with the deal except the volumes.  The information that
CES gave us had at least twice as much volume on both of those tickets.  Do
they have the right to swing like that?

Dave

Chris Germany
01/13/2000 11:27 AM
To: David Oliver/HOU/ECT@ECT
cc:
Subject: Re: Sale/Purchase with Eagle Poin

deals 136749 & 149838

Thanks Buddy

	From:  David Oliver                           01/13/2000 09:22 AM

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Sale/Purchase with Eagle Poin

Chris,

Can you please give me the Sitara number on this deal.

Thanks,

David
---------------------- Forwarded by David Oliver/HOU/ECT on 01/13/2000 09:21
AM ---------------------------

	Enron North America Corp.

	From:  Mark Friedman                           01/13/2000 08:35 AM

To: David Oliver/HOU/ECT@ECT
cc:
Subject: Sale/Purchase with Eagle Poin

---------------------- Forwarded by Mark Friedman/HOU/ECT on 01/13/2000 08:34
AM ---------------------------

Chris Germany
01/12/2000 03:42 PM
To: Mark Friedman/HOU/ECT@ECT, David Oliver/HOU/ECT@ECT, Victor
Lamadrid/HOU/ECT@ECT, Joan Veselack/Corp/Enron@ENRON, Joann
Collins/Corp/Enron@ENRON, Robert Allwein/HOU/ECT@ECT, Scott
Hendrickson/HOU/ECT@ECT, Sarah Mulholland/HOU/ECT@ECT, Dick
Jenkins/HOU/ECT@ECT, John Grass/Corp/Enron@ENRON, Tom Donohoe/HOU/ECT@ECT
cc:
Subject: Sale/Purchase with Eagle Poin

Per John Grass - CES sold Eagle Point gas on ANR (deal 136749) at ANR IF
+.01.  and bought Eagle Point gas on CGAS (deal 149838) at CGAS IF +.005.

The sale to Eagle Point is in Sitara.  I just added the purchase deal on
CGAS, it was not in Sitara.  Per John - Eagle Point is guaranteed to recover
the ANR variable cost plus $.02.

---------------------- Forwarded by Chris Germany/HOU/ECT on 01/12/2000 03:23
PM ---------------------------

	From:  Joan Veselack @ ENRON                           01/11/2000 06:23 PM

To: chris.germany@enron.com
cc: Joann Collins/Corp/Enron@ENRON, vlamadr@enron.com, Robert
Allwein/HOU/ECT@ECT
Subject: Friendly Reminder - Paulding Gas

Chris, still missing 2247/day buy ticket from Eaglepoint/Central Desk for
Paulding Gas - F1

Thank you!!!!!


Thought you would enjoy this one!

?
 - Girls Are Evil.jpg


10/17 #439156
9/30 #420864 (This deal is under Samedan)

Are there any other days on the invoices?

D

Laurie Ellis@ENRON
11/29/2000 01:39 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Samson Lone Star Limited

Daren, I am trying to process two invoices from Samson Resources Co. (Samson
Lone Star Limited) for September 2000 and October 2000.  The volume is at
Carthage Hub.  I have not been able to find this volume in Unify for either
month.  Samson has faxed me their confirmation and your name is listed as the
contact.  Do you know the Sitara number for these deals?  Thanks.

Laurie Ellis


Tom,

Do you have transactions breakdown by commodity, and volume weighted?

Vince

-----Original Message-----
From: Barkley, Tom
Sent: Wednesday, November 14, 2001 10:52 AM
To: Kaminski, Vince J
Cc: Lu, Zimin; Lee, Bob; Rajan, Karthik
Subject: EOL Transactions

Vince,

I thought you might just like to have this information: several people have been asking about our trading volumes and whether or not they have decreased significantly. According to the graphs in the attached spreadsheet, the only significant drop in EOL trading came on 09/11 and 09/12. In fact, the largest number of transactions on EOL was on 10/23, which is since many of our problems started.

Tom


Hey buddie:
Give me a call tomorrow.  Want to catch up on a few things.  Thanks a bunch.
Best,
Jeff


Start Date: 4/9/01; HourAhead hour: 22;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040922.txt

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/9/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_OZZY
  ENGY_TYPE: FIRM


Sorry I completely forgot it was Wednesday


Thanks Steve.  All contacted, included the drafter, said your insert was
reasonable and acceptable.

Steven J Kean@EES
07/21/2000 12:17 PM
To: Cynthia Sandherr/Corp/Enron@ENRON
cc: Joe Hartsoe/Corp/Enron@ENRON, dwatkiss@bracepatt.com@ENRON,
cingebretson@bracepatt.com@ENRON

Subject: Re: FW: RTO/market power discussion document

In the underscored language added to the RTO section I would insert "access
to" between the words "planning" and "maintenance".

Cynthia Sandherr@ENRON
07/20/2000 06:22 AM

To: Steven J Kean/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON,
dwatkiss@bracepatt.com, cingebretson@bracepatt.com
cc:
Subject: FW: RTO/market power discussion document

---------------------- Forwarded by Cynthia Sandherr/Corp/Enron on 07/20/2000
07:30 AM ---------------------------

"Kanner, Marty" <mkanner@kannerandassoc.com> on 07/19/2000 07:09:20 PM
To: "Jane Dunn Cirrincione (E-mail)" <jcirrincione@APPAnet.org>, "Deborah
Sliz (E-mail)" <dsliz@morganmeguire.com>, "Mark Yacker (E-mail)"
<myacker@elcon.org>, "Cynthia Sandherr (E-mail)"
<cynthia.sandherr@enron.com>, "Cynthia Bogorad (E-mail)"
<BogoradC@spiegelmcd.com>, "Gene Peters (E-mail)" <gpeters@epsa.org>
cc:

Subject: FW: RTO/market power discussion document

I sent the following to Andy Black in order to ensure that we also discuss
the RTO/market power issues.  I'll bring copies to the meeting.  Please feel
free to take issue with the language.

Marty Kanner
Kanner and Associates
122 C Street, NW
Suite 500
202-347-6625 - phone
202-347-6605 - fax
www.kannerandassoc.com <http://www.kannerandassoc.com>

-----Original Message-----
From: Kanner, Marty
Sent: Wednesday, July 19, 2000 7:07 PM
To: Andy Black (E-mail)
Cc: Catherine Van Way (E-mail); Curry Hagerty (E-mail); Joe Kelliher
(E-mail); Bob Bolster (E-mail); Ramsen Betfarhad (E-mail); Rick Kessler
(E-mail); Sue Sheridan (E-mail)
Subject: RTO/market power discussion document

Andy -

Thanks again for allowing me to participate in this afternoon's discussion.
As I mentioned, I believe discussions of transmission issues must include
both jurisdictional and RTO.  I understand that the RTO discussion is more
difficult in the absence of paper.  For that reason, I have taken the
liberty of drafting language that I believe mirrors (at least my view) of
one possible construct of RTO Proposal I.

I hope you find this helpful.  I will bring copies to our meeting tomorrow.

 <<rto mp amend for barton discussion.doc>>

Marty Kanner
Kanner and Associates
122 C Street, NW
Suite 500
202-347-6625 - phone
202-347-6605 - fax
www.kannerandassoc.com <http://www.kannerandassoc.com>

 - rto mp amend for barton discussion.doc


ABX1 1 failed passage off of the Assembly floor at 2:47 a.m. on a vote
of 51 to 28.  Only two Republicans voted for the bill.  The Assembly
intends to reconvene at 11:00 a.m. to vote on the measure again.


You received this e-mail because you registered on the E*TRADE Web site,  or
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You are subscribed at: lcampbel@enron.com

	?
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Dear larry,
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	www.att.com/et30

	Here's a new offering from AT&T.  Introducing the 5? Evenings Plan, a NO
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Start Date: 2/28/01; HourAhead hour: 13;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001022813.txt

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

  TRANS_TYPE: FINAL
  SC_ID: Wheelabrat
  MKT_TYPE: 2
  TRANS_DATE: 2/28/01
  UNIT_ID: MARTEL_2_AMFOR


Sources report that the bond authorization will be put to a vote today

The bridge loan financing bill will put to a vote today in the California
Assembly.  The Republicans are currently in caucus until 3:30 PST and then
will go to the floor for a vote.  The current situation is very fluid, but
sources now indicate that the bill would pass with a simple majority vote,
lacking the two-thirds needed for an immediate bond issuance.  If this is the
case, the bill would not take effect for 90 days and the state would be
forced to abandon its proposed bridge loan plans.  Absent of last minute
financial rescues by Davis or a new longer bridge loan package (unlikely)
Socal could seek voluntary bankruptcy.  The main problem would then be the
waiting period for financial relief from the state through the transmission
line purchase or other assistance.

There is an outside chance that Republican defectors could precipitate from
the current caucus.  There is extreme pressure on the Republicans from Davis
and Angelides.  If the bill failed due to lack of Republican support, it
would provide Davis the opportunity to blame Republicans for on-going
expenditures of $70M/day (power purchases), and a possible bankruptcy by
Socal.  The last Republican who gave support to a democratic bill (AB 1X),
Representative Bill Campbell, lost his job.  Sources also confirm that
Democrats have not met with Republicans on the bond issuance since last week.


Bill,

Thank you - I enjoyed our visit as well.  I will try to find a time to get to Portland sometime later this summer.  Please let me know if I can ever be of help to you.

Take care,
Billy

-----Original Message-----
From: Williams III, Bill
Sent: Friday, May 25, 2001 2:48 PM
To: Lemmons Jr., Billy
Subject: Meeting on Tuesday

Billy,

I just wanted to thank you for your making the time to meet with me on Tuesday afternoon.  I appreciated your time and felt it gave me some useful information regarding the analyst program.  I believe the better understanding of the program that you provided will allow me to better manage and coordinate the activities of the analysts in the real-time group in Portland.  I do think a visit and information session later in the summer might be helpful as well.

Thank you again for your time and enjoy the holiday weekend.

Bill


Please see attached.  Password is the same.  Call w/any questions.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Tuesday, September 18, 2001 4:14 PM
To:	Slone, Jeanie
Subject:	Please get me updated contract sheet

Thanks

Louise Kitchen
Chief Operating Officer
Enron Americas
Tel:  713 853 3488
Fax: 713 646 2308


What's the scoop on the TXU negotiation?  Brant says we're in a strong
negotiation position with them right now, because they've acquired Howard's
book and need our consent, and also have to post an expensive LC with us to
take in those Howard trades.  He wants to know if he should use our leverage
here to get that ISDA Master in place.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/28/2000
05:10 PM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Kirstee Hewitt                           07/28/2000 02:08 PM

To: Cantekin Dincerler/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Grant
Masson/HOU/ECT@ECT, Bjorn Hagelmann/HOU/ECT@ECT
cc: Steven Leppard/LON/ECT@ECT
Subject: MG VaR Results for the 27th July

Hi,
I have run the VaR with updated factor loadings for the gold,silver and cocoa
bean positions. The biggest change in VaR from
adding this information has been to the Cocoa bean position which has
increased from approx $45,900 to $506,553.
The overal VaR has not changed by very much as the position file I was sent
from Andreas had not changed from the 26th - I
have queried this and it will not be a problem to re-run the numbers on
Monday if I recieve a further file.
The VaR summary for all the metals is as follows :

Also, after having a conversation with Bjorn about stress/scenario analysis I
thought I might quickly try to set up a few scenarios to
see how sensitive the VaR is to a position change in Aluminium, Nickel and
Copper.
I have only applied position increases (thge direction of the shifts are
dependent on the monthly outright position direction) up until Dec2000.
The shifts and results are given in the following attached spreadsheet.

It is interesting that the individual VaR's are particuarly sensitive to
increasing the position for Nickel.
I would like to discuss these results on Monday and any further suggestions
for senarios would also be gratefully recieved.

Have a good weekend,
Kirstee.


keep buying N-M socal gd index up to plus .04.  I will buy as much as they
want to sell.  talk to amerex.

Mike


For your reference, please find attached a short presentation that we have prepared for Xcel regarding blend & extend products (a.k.a. stack & roll).  As prices continue to drop and these deals become more attractive, these slides might be useful in our customer presentations.

Please note that, since this particular presentation is for Xcel, we have included some Rockies fundies information that may or may not be applicable to other customers.  Let me know if you have any questions.

Tyrell
303 575 6478


I'm going to have an updated contact list prepared.  Please email me with
your telephone, location, email address, and cell phone number, if desired.

Please let me know who should be added to this list.

If you are receiving this vis a cc, I have your information.

Thanks,

Kay


>From: "Aaron Henninger"
>To: "Jerry Booth"
>Subject: JH rreservation
>Date: Tue, 23 Oct 2001 10:34:26 -0500
>
>Pineforest Baptist needs a reservation for 20 on Monday night. Preferably between 7:00pm and 7:30pm. Information can be passed onto Robby Pollard at 281.852.3900 or 281.4461498.
>
>Aaron

  _____

Get your FREE download of MSN Explorer at http://explorer.msn.com <http://go.msn.com/bql/hmtag_itl_EN.asp>


John:

I am the attorney with Enron that has been working on this matter.  I have
worked off and on with both Wolf Frenkel and Michele Zaffarano at Sun.  We
will send to you by e-mail the most recent version of the Confidentiality
Agreement that we were discussing with them.

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3882A
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3393/3490


Kim,

I'm so sorry it took this long to get back to you.

The below deals are all the deals we have with Smurfit, and the system shows that all the deals are under GTC's and do not require the cpty to sign, so all the deals have been executed.

Please let me know if you have any questions.

Best regards,
Ellen
x
Buyer	Seller	Deal #	Trade Date	Status	Contract	Nature	Trader	Start Date	End Date
Smurfit-Stone Container Corporation	Enron North America Corp.	947739	7/26/2001	Executed	96063811	Physical		8/1/2001	8/31/2001
Smurfit-Stone Container Corporation	Enron North America Corp.	848047	6/12/2001	Executed	96062119	Physical		7/1/2001	7/31/2001
Smurfit-Stone Container Corporation	Enron North America Corp.	745464	4/23/2001	Executed	96058746	Physical	Michael Grigsby	5/1/2001	6/30/2001
Smurfit-Stone Container Corporation	Enron North America Corp.	684928	3/21/2001	Executed	96057923	Physical	Michael Grigsby	4/1/2001	4/30/2001
Smurfit-Stone Container Corporation	Enron North America Corp.	636993	2/23/2001	Executed	96057381	Physical	Michael Grigsby	3/1/2001	3/31/2001
Smurfit-Stone Container Corporation	Enron North America Corp.	451649	10/25/2000	Executed	96050461	Physical	Tori Kuykendall	12/1/2000	2/28/2001
Smurfit-Stone Container Corporation	Enron North America Corp.	145103	12/29/1999	Executed	96027880	Physical		1/1/2000	11/30/2000
Smurfit-Stone Container Corporation	Enron North America Corp.	132087	11/23/1999	Executed	96027880	Physical	Robert Shiring	12/1/1999	12/31/1999

 -----Original Message-----
From: 	Ward, Kim S (Houston)
Sent:	Thursday, August 16, 2001 10:11 AM
To:	Wallumrod, Ellen
Subject:

Ellen,

Since Richard is out, could you possibly help me with something when you have time?   Can you check on the monthly confirms for sales to Smurfit and let me know what we've gotten back from them and what is still out standing?

Call me if you have any quesitons.

Thanks!

Kim


FYI,  Draft that we sent to Peter with our comments.

----- Forwarded by Gerald Nemec/HOU/ECT on 04/19/2001 09:00 AM -----

	Lisa Mellencamp
	04/18/2001 07:04 PM

		 To: "Meier, Peter" <peter.meier@neg.pge.com>@ENRON
		 cc: Steve Van Hooser/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT
		 Subject: Re: AGREEMENT WITH RESPECT TO GAS TRANSPORTATION

peter, please see below. would like the lawyers  to see and then we can
redline v your draft.
do you have ucc run to confirm not pledged now?
gerald, can you confirm that now all in et gas as peter has heard it is?
assume you are ok with protective ucc filed on our part too.

Lisa J. Mellencamp
Enron North America Corp. - Legal
1400 Smith St.
Houston, TX  77002
Tel:  (713) 853-7986
Fax: (713) 646-3393
E-mail:  Lisa.Mellencamp@enron.com


Hello everyone,

Could someone please prepare an assignment letter to move trade q13022.4 from
NG Trading, LLC to NG Energy Trading, LLC.

Also, in the original confirmation certain credit language was added to
require an independent amount of $1MM be held through maturity of the trade.
NG Energy Trading, LLC recently received a guaranty from Alliant Energy
Corporation, an A-rated utility, which will be used to secure the trade after
the assigment.  Therefore, my question to you, is do we drop the independent
amount language from the original confirmation and provide alternative
language referencing the new specific guaranty.  If so, the date of the
guaranty provided is October 24, 2000 and it is due to expire November 1,
2001.

If you could e-mail such a document, I would be most grateful.

thanks
brant


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/25/2000
04:54 PM ---------------------------

"dgweir" <dgweir@easy-pages.com> on 04/25/2000 03:46:32 PM
To: <Vince.J.Kaminski@enron.com>
cc:
Subject:

Please add our contact information to your database.  What follows are a
couple of active searches, should you become aware of interested
individuals.

Chief Executive Officer
LOCATION: San Diego, CA
COMPANY: **rates.com
COMPENSATION:  Targeted compensation in the >$200k base range plus extensive
stock ownership and bonus.
DESCRIPTION:   The Board of Directors of **Rates.com is seeking a dynamic
and experienced executive for the position of CEO of this Pre-IPO Internet
company. The CEO would play a key role in the business strategy of a highly
entrepreneurial and fast-growing company and answer directly to the Board of
Directors. This individual must be smart, highly motivated team leader able
to offer strong business strategies, especially involving the rapid growth
of operations and resulting financial challenges. The CEO must be
expansion-capable and have experience with business start ups, growing
businesses and the ability to get the company to a public offering
The Chief Executive Officer for this 1-year start-up, B2B e-commerce, single
location company must be able to commercially launch the company in the
energy industry, and ultimately expanding into other market niches while
making this company a market leader in the Internet Rate Comparison market.
**Rates.com is a California C Corporation company with an industry leading
Board of Directors and Advisory Board. The company in the process of
assembling a management team, finalizing the business plan and taking the
rate comparison service to market. The initially targeted electric and
natural gas industries have over $200 billion in annual revenues. Currently,
the three largest internet rate comparison companies have little or no
market share in the energy industry.
Possible candidates can come from a variety of experiences, but experience
in starting up an energy company or leading-edge technology company is
critical.
REQUIREMENTS:  The candidate must have 8-15 years of executive management
experience (i.e., CEO, President, Sr. Vice-President, Partner level
Consultancy) in the private sector either with a deregulated energy company,
a large consulting or a services oriented firm. Extensive background in
either the energy field, high technology, including telecommunications,
systems software, e-commerce development or e-commerce. Must have a strong
background in business development and building relationships with large
companies. Strong visionary with proven leadership qualities and capable of
building a company. Degree essential.
Computer literate in word processing/budget formats/ and e-mail necessary
group and people skills essential organizational and planning skills a must
over all must be a self-starter and a communicator must be willing to travel
in states as necessary.

Position Title: Director of Acquisitions Department: Corporate Development
Location: DC    Reports to: Vice President, Acquisitions

Position Summary:
The person holding this position serves as a transaction team leader for
large acquisition projects within the Energy Group, performing all
activities and managing all resources necessary to successfully acquire
operating power plants, or gas assets.  Working largely through
self-direction, he or she manages the project team for an assigned project
and establishes and adheres to budgets and schedules.  Due to high deal
flow, the Energy Group needs two Directors of Acquisitions, and has one open
position.

Principal Duties and Responsibilities:

1. Manages the project team for an assigned project.  Successfully manages
the project through signing of an asset purchase agreement.
2. Manages development of and inputs to, project/proposal economic
projections.  Obtains sign-off on pro forma inputs from appropriate company
officers.
3. Identifies problems and solicits input from appropriate team members
and/or senior management on project issues.  Develops alternative solutions
and assesses the alternatives in the context of project and corporate
objectives.  Chooses and implements the best solutions.
4. Establishes project budgets and schedules and manages expenditures to
budgeted levels.
5. Plans and organizes tasks and short-term goals for the project team
members to ensure the project stays on schedule.  Coordinates activities of
team members (including third parties) from different disciplines to ensure
activities with overlapping disciplinary impacts are performed efficiently.
6. Represents the project and the company in discussions with interested
parties, at lender meetings, etc., and develops appropriate relationships
with individuals involved.
7. Identifies key issues associated with an acquisition and its potential
&fatal flaws.8
8. Assists in maintaining relations with investment banks and legal firms to
assure that company receives all appropriate &deal flow.8
9. Leads process of obtaining company's approval for acquisitions and
coordinates requirements with the corporate office as to due diligence
scope, structuring issues, risk assessment, financial analysis, etc.
10. Reviews, edits and assists in negotiating asset purchase and related
agreements.
11. Assists in the timely closing of transactions.
12. Maintains a working knowledge of regional electric market and sub-market
pricing, load shape, resource mix and transmission characteristics.

Required Job-Related Qualifications:

1. BA/BS required; advanced degree in business or related field preferred.
2. Strong analytical skills, experience in building and managing pro formas.
3. Substantial record of successfully managing and participating in the
development or acquisition and financial closing of independent power
projects or merchant plants.
4. Excellent oral and written communication skills.
5. Ability to function in a team environment with multiple and changing
priorities, as either leader or team member.

Interview with:  Chief Financial Officer
    Vice President, Acquisitions
    Managing Director, Development
    Director, Acquisitions

Asian Sales Manager position.

Selling turbomachinery controls throughout Asia.  The best location for this
position is in Singapore.  All
candidates for this position should have a proven track record selling
controls in the region.

The Asian Sales Manager will be responsible for growing I&C systems product
line(direct sales)throughout Asia. This will include sales of control
systems through engine and turbine packagers and rebuilders. Company will
also pursue sales directly to end-users with the best candidates being the
oil & gas producers and power companies. The company will emphasize gas
turbine applications including compressor and generator drives. The company
is interested in developing alliances with large users such as ONGC,
Petronos, and Caltex, as well as pursuing the individual retrofits with
energy companies. Retrofit opportunities will not be limited to this
company's machines. The company will retrofit any gas turbine. We will also
retrofit gas or diesel engines.

The company expects sales results and then growth plans for leveraging these
early successes. As they grow, additional sales personnel may be added and
they will report to the Asian Sales Manager.

Company hot buttons:
1. Familiar with Asian oil & gas and power generation markets.
2. Strong technical understanding of control systems and turbomachinery
applications.
3. Well organized, self-managed individual.
4. Ability to manage and direct other sales people.
5. Ability to work with key customers, to understand their turbomachinery
requirements and communicate I&C solutions.
6. Ability to achieve early sales results and to develop sustained sales
growth.
7. Ability to develop long-term alliances with key customers, as well as,
sales opportunities on individual control retrofit projects.
8. Strong understanding of sales & marketing principles with the ability to
implement these principles.
9. Ability to work well with people of various cultural backgrounds.
10. The Asian Sales Manager will be based in Singapore and report to the
Director of Sales and Marketing, located in Houston, Texas.

An undergraduate degree in Electrical or Mechanical engineering is required.
A graduate degree is business is also desirable.

Regards,

Dave Weir, Sr. Managing Partner
IEG,Inc.
215-957-9012 fax. 215-957-1753 or 215-957-6090
website: www.iegsearch.com
EMail: dgweir@iegsearch.com or dgweir@aol.com
Dave Weir, Sr. Managing Partner
IEG,Inc.
215-957-9012 fax. 215-957-1753 or 215-957-6090
website: www.iegsearch.com
EMail: dgweir@iegsearch.com or dgweir@aol.comDave Weir, Sr. Managing Partner
IEG,Inc.
215-957-9012 fax. 215-957-1753 or 215-957-6090
website: www.iegsearch.com
EMail: dgweir@iegsearch.com or dgweir@aol.com


worked good.  i downloaded a few songs from scour.com into your network.
they are under c:\program files\napster\music.


Yep, that sounds right.  This time travel thing always throws me for a
loop.

<<< Memo from Kevin.Ruscitti@enron.com on 05 October, 2001, 13:00
Friday >>>

Kevin.Ruscitti@enron.com on 5 Oct 2001, 13:00 Friday

To:	Richard Moller
cc:
Subject:	RE: Yo!

It didn't down here b/c I watched it from 5:15 - 6pm unless it actually
came
on 4pm down here with the time difference.  I bet that's what happened.

KR

-----Original Message-----
From: Richard Moller [mailto:Richard.J.Moller@marshmc.com]
Sent: Friday, October 05, 2001 9:27 AM
To: Ruscitti, Kevin
Subject: RE: Yo!

Actually, it went on towards the end of the hour, about 5:45.  I can
get you a copy.

<<< Memo from Kevin.Ruscitti@enron.com on 05 October, 2001, 09:07
Friday >>>

Kevin.Ruscitti@enron.com on 5 Oct 2001, 09:07 Friday

To:	Richard Moller
cc:
Subject:	RE: Yo!

You'll never believe it but I turned it on at 5:10 so I guess your
interview
was over.  If you have a copy, please send me a copy and I'll pay you
for it.
How's everything going?  Hope all is well.  Talk to you soon.

Kevin

-----Original Message-----
From: Richard Moller [mailto:Richard.J.Moller@marshmc.com]
Sent: Thursday, October 04, 2001 4:04 PM
To: Ruscitti, Kevin
Subject: Yo!

What's Happenin'?  Did you catch the interview on Fox?  The babe who
interviewed me was sooooooooo hot that all I could think of was how
good she must taste.

**********************************************************************
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.
**********************************************************************

To:	Richard Moller/NYC-NY/US/Marsh/MMC@MMC
cc:
From:	Kevin.Ruscitti@enron.com

To:	Richard Moller/NYC-NY/US/Marsh/MMC@MMC
cc:
From:	Kevin.Ruscitti@enron.com


---------------------- Forwarded by Don Miller/HOU/ECT on 09/15/2000 05:24 PM
---------------------------

"Modi, Rishi" <rishi.modi@csfb.com> on 09/14/2000 01:14:18 PM
To: "'don.miller@enron.com'" <don.miller@enron.com>
cc:
Subject: Mgm't Presentation

Don-

Jim asked me to send this to you.  Thanks, Rishi

 <<003730901.doc>>

This message is for the named person's use only.  It may contain
confidential, proprietary or legally privileged information.  No
confidentiality or privilege is waived or lost by any mistransmission.
If you receive this message in error, please immediately delete it and all
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the right to monitor all e-mail communications through its networks.  Any
views expressed in this message are those of the individual sender, except
where the message states otherwise and the sender is authorised to state
them to be the views of any such entity.
Unless otherwise stated, any pricing information given in this message is
indicative only, is subject to change and does not constitute an offer to
deal at any price quoted.
Any reference to the terms of executed transactions should be treated as
preliminary only and subject to our formal written confirmation.

 - 003730901.doc


<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><META http-equiv=Content-Type content="text/html; charset=iso-8859-1"><META content="MSHTML 6.00.2600.0" name=GENERATOR>

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======================================================================
The MATLAB Digest November 2001 Volume 9, number 4
======================================================================
The MathWorks electronic news bulletin.  Articles provide tips and
shortcuts for using the MATLAB(R) and Simulink(R) product family, as
well as other technical, product, service, and event information.

---------------------------------- Contents --------------------------

Technical
(1) Bluetooth Voice Simulink Model
(2) The Technical Support Guide to Graphics Rendering and
    Troubleshooting
(3) MATLAB File Exchange

Product Information
(4) Instrument Control Toolbox support for TekVISA
(5) DSP Blockset
(6) New API for Stateflow
(7) Third Party Product: PowerDAQ PCI-based Data Acquisition Products
    from United Electronic Industries, Inc.

Events
(8) MathWorks Training
(9) MathWorks Free Seminars

---------------------------------- Technical -------------------------

(1) Bluetooth Voice Simulink Model
Bluetooth is a short-range wireless networking technology that enables
easy interconnection of mobile computers, mobile phones, headsets,
personal digital assistants, and computer peripherals without the need
for cables. When designing Bluetooth systems and semiconductors, it is
crucial to simulate and test them in the presence of interference from
these other devices. Simulink enables you to simulate the behavior of
their devices...

        http://www.mathworks.com/digest_nov01

(2) The Technical Support Guide to Graphics Rendering and
    Troubleshooting
This Technical Note provides information on renderers, how to
diagnosis some common OpenGL issues, and troubleshooting of these
issues.  It also covers known conflicts and behaviors that occur
during graphical rendering.

        http://www.mathworks.com/digest_technote_1200

(3) MATLAB File Exchange
The File Exchange at MATLAB Central features hundreds of free M-Files
and Simulink models, all written by members of the MATLAB community.
You can quickly sort the contributions several convenient ways and
contribute your own files.

        http://www.mathworks.com/digest_mlcentral

----------------------------- Product Information --------------------

(4) Instrument Control Toolbox support for TekVISA
Tektronix, Inc. and The MathWorks now provide connectivity between
Tektronix mid- and high-performance lines of oscilloscopes and MATLAB.
This interface was created by adding support for TekVISA...

        http://www.mathworks.com/product_instrument

(5) DSP Blockset
The DSP Blockset is a Simulink block library that provides the
algorithmic  foundation for many applications in speech and audio
processing, telephony, wireless and broadband communications, computer
peripherals, radar/sonar, and medical electronics. It contains blocks
for filter design, including adaptive and multirate filter design,
spectral and parametric estimation...

        http://www.mathworks.com/product_dspblockset

(6) New API for Stateflow
A new API for Stateflow 4.2 provides convenient programmatic access to
Stateflow(R). Through individual MATLAB commands or scripts of commands,
you can manipulate Stateflow objects (machines, charts, states, boxes,
functions, notes, transitions, junctions, data, events, and targets)
to perform actions that were previously only available through the
Stateflow graphical interfaces...

        http://www.mathworks.com/product_stateflow

(7) Third Party Product: PowerDAQ PCI-based Data Acquisition Products
    from United Electronic Industries, Inc.(UEI)
MATLAB users can communicate directly with UEI's PowerDAQ hardware
using the MATLAB Data Acquisition Toolbox with a driver that is
provided along with the PowerDAQ Software Suite.  This enables you to
bring data directly into MATLAB...

        http://www.mathworks.com/product_uei

----------------------------------- Events ---------------------------
(8) MathWorks Training
MATLAB and Simulink training is held monthly.  November and December
locations include:  California, Florida, Hawaii, Massachusetts,
Michigan, Nevada, Oregon, Texas, France, the Netherlands, the United
Kingdom, and Ontario, Canada. Training is also held at several other
worldwide locations.

United States and Canada...

        http://www.mathworks.com/training_us

Worldwide...

        http://www.mathworks.com/training_worldwide

(9) MathWorks Free Seminars
Seminars on Rapid Application Development with MATLAB;
DSP/Communications Innovation First: System Level Design; and Getting
to Real-Time in No Time are scheduled at various locations. Seminars
feature demonstrations of new products and new features.  November and
December U.S. locations include: Maryland, California, Texas and New
York.  Seminars are also held at The MathWorks offices in the United
Kingdom, the Netherlands, Germany, Spain, France, and Switzerland.

        http://www.mathworks.com/mw_seminars

In addition, many of our distributors offer seminars at numerous
locations throughout the world.

        http://www.mathworks.com/mwdistrib_seminars

======================================================================
Our records indicate that you are not a current user of MATLAB.  If
you are a MATLAB user, you can let us know by visiting the web page
below and signing up for a MATLAB Access number:
        http://www.mathworks.com/digest_mla

To remove yourself from this mailing list, visit:
        http://www.mathworks.com/company/digest/digest_opt_out.shtml

Copyright 2001 by The MathWorks, Inc.
MATLAB, Simulink, Stateflow, Handle Graphics, Real-Time Workshop, and
Target Language Compiler are trademarks of The MathWorks, Inc. Other
product or brand names are trademarks or registered trademarks of
their respective holders.


Please count the following 3 people from Enron Energy Services to attend the
conference:

Anoush Farhangi
Osman Sezgen
P V Krishnarao

If there are additional people interested in attending the conference, I will
let you know.

Best regards,
Krishna.
---------------------- Forwarded by Pinnamaneni Krishnarao/HOU/ECT on
03/20/2001 03:12 PM ---------------------------

Vince J Kaminski
03/19/2001 11:32 AM
To: Pinnamaneni Krishnarao/HOU/ECT@ECT
cc:
Subject: Re: RTP project

Krishna,

Please,  confirm with Hill Huntington.

Vince

Pinnamaneni Krishnarao
03/19/2001 09:28 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: RTP project

Yes, I would be definitely interested. Count me and Osman also to
participate. I will forward your email to others in EES who might be
interested also.
Krishna.

Vince J Kaminski
03/19/2001 08:12 AM
To: John Henderson/HOU/EES@EES, Pinnamaneni Krishnarao/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT
Subject: RTP project

John and Krishna,

I am sending you an outline of a conference at Stanford on topics related to
demand-side pricing and management in the power markets.

Please, let me know if you are personally interested and who else
in your respective  organizations would like to attend.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001
08:10 AM ---------------------------

Hill Huntington <hillh@stanford.edu> on 03/15/2001 05:26:55 PM
To: vkamins@enron.com
cc:
Subject: RTP project

Vince,

Targetted conference date is Th-F June 21-22 at Stanford.  Enclosed in the
recent revision to what I sent before.

Great to meet you,
Hill

 - retail notes.rtf
*******************************************************************
Hillard G. Huntington
EMF - an international forum on
energy and environmental markets Voice:  (650) 723-1050
408 Terman Center    Fax:    (650) 725-5362
Stanford University   Email:  hillh@stanford.edu
Stanford, CA  94305-4026

EMF Website: http://www.stanford.edu/group/EMF/


Can someone in your office (or the Houston office) put together the execution
copies of this agreement?  We will need three originals.

Thanks,

Kay


---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on 12/27/99
08:08 AM ---------------------------

Marianne Stiles
12/23/99 12:11 PM

To: Karen Bobb/CES/ColumbiaGas@ColumbiaGas
cc: Noel Bartlo/CES/ColumbiaGas@ColumbiaGas, Paul
Drexelius/CES/ColumbiaGas@ColumbiaGas, Joanne
Swogger/CES/ColumbiaGas@ColumbiaGas, Nancy Diel/CES/ColumbiaGas@ColumbiaGas,
Phil Villagomez/CES/ColumbiaGas@ColumbiaGas
Subject: REVISED - January 2000 Tennessee deliveries to WKY

Please note in red the revised volumes
---------------------- Forwarded by Marianne Stiles/CES/ColumbiaGas on
12/23/99
01:10 PM ---------------------------

Marianne Stiles
12/23/99 11:05 AM

To: Karen Bobb/CES/ColumbiaGas@ColumbiaGas
cc: Phil Villagomez/CES/ColumbiaGas@ColumbiaGas, Noel
Bartlo/CES/ColumbiaGas@ColumbiaGas, Paul
Drexelius/CES/ColumbiaGas@ColumbiaGas,
Joanne Swogger/CES/ColumbiaGas@ColumbiaGas, Nancy
Diel/CES/ColumbiaGas@ColumbiaGas
Subject: January 2000 Tennessee deliveries to WKY

Per the sales reps and GMS I will need the following:

100 dth per day to meter # 020030
596 dth per day to meter # 020028

I will receive a final number for these next week but this is an estimate.
(should not be that far off).


Yes way too high for a diesel that has a bad reputation.

The guys here think they can come up with a pair of Cummins for about
$4,500 (for both).

I'll give Ricky a call.

-----Original Message-----
From: Parks, Joe [mailto:Joe.Parks@ENRON.com]
Sent: Thursday, January 10, 2002 3:01 PM
To: Eugene Connors, Eugene
Subject: RE: Re: Engine Prices

no, dont know, call Ricky 281-820-8205, is that deseal price to high

-----Original Message-----
From: Eugene Connors, Eugene [mailto:EConnors@mail.mainland.cc.tx.us]
Sent: Thursday, January 10, 2002 2:58 PM
To: Parks, Joe
Subject: RE: Re: Engine Prices

Joe,

The guys who teach auto for us said that if I do have to go with gas,
that the 502 is a much "healthier" engine than the 454.  Any idea of the
cost of 502's?

Thanks

-----Original Message-----
From: Parks, Joe [mailto:Joe.Parks@ENRON.com]
Sent: Thursday, January 10, 2002 2:38 PM
To: Eugene Connors, Eugene
Subject: FW: Re: Engine Prices

-----Original Message-----
From: Landmark Chevrolet Parts [mailto:parts@landmarkchevrolet.com]
Sent: Thursday, January 10, 2002 2:32 PM
To: Parks, Joe
Subject: FW: Re: Engine Prices

-----Original Message-----
From: Landmark Chevrolet Parts [mailto:parts@landmarkchevrolet.com]
Sent: Wednesday, January 09, 2002 5:52 PM
To: jparks@houston
Subject: Re: Engine Prices

Diesel Engine  $ 6275.00

454 Engine  $ 3350.00

These are your cost.

Rick Darnell

**********************************************************************
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.
**********************************************************************


Start Date: 2/4/02; HourAhead hour: 23;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002020423.txt


I have asked Dave to set up a meeting with you and Barbara on this subject.  I thought there were exclusions relative to EOL transactions and points that do not directly impact HPL.  The problem for me is that if I want to do terms deals in these locations now I want to be able to keep them as ENA and not transfer them with the HPL sale.  Let's talk as soon as possible so I can have clear understanding of the rules of engagement for ENA now and after the close.

Thanks,

Tom


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Anjam has told me he is not going to an energy competitor (he mentioned
weather derivatives as a the only overlap.  I therefore see this as low risk
from a security point of view, so let's make sure handover is thorough.  You
might focus our security efforts on his access to weather-related info.

Richard

Steven Leppard
26/10/2000 17:06
To: Melanie Doyle/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Dale Surbey/LON/ECT@ECT, Richard
Lewis/LON/ECT@ECT

Subject: Further actions on Anjam's departure

Hi Mel

Further to our earlier discussions here's the full list of actions we'd like
to put into place regarding Anjam's departure:

HR-type stuff:
1. Get Anjam off the trading floor as soon as possible.  There is no need for
him to remain on the floor.  This will need to be delayed until IT number 1
is completed (cataloguing his work).
2. Determine where Anjam is heading.  We need to know who is going to know
our positions and curves next.
3. Remove his security pass, and insist that he is always accompanied when in
the building.  Sharad is to sit with him while he catalogues his work.

IT-type stuff:
1. Ask him to catalogue the contents of his h: drive, since the rest of the
group will need to support his work in the future.  This should take no more
than a day or two.
2. Get IT to obtain their backups of Anjam's h: drive for weekly intervals
over the last two months.  This will allow us to determine what he has
deleted.
3. Get IT to provide a snapshot of Anjam's Notes folders, and provide records
of mail sent out to the internet over the last couple of months.  I'm worried
about code/data he may have zipped up and mailed out.
4. Ask IT to use a utility program to determine what has been deleted from
Anjam's c: drives.  There may be useful info here too.
5. Revoke all internet access, whether via Explorer or Notes mail.
6. Get a record of all files he has printed over the last couple of months.

Vince has OK'd this lot, so let's do it ASAP.

Many thanks,
Steve


The above meeting has been scheduled for Wed., May 23rd from 10:30 - 11:00 in EB2626.

Thanks,
Mary
 -----Original Message-----
From: 	Shelby, Rex
Sent:	Tuesday, May 22, 2001 9:22 AM
To:	Zipper, Andy; Webb, Jay
Cc:	Cannon, Lydia; Weatherstone, Mary; Cromwell, Sheri L.
Subject:	FW: Meeting with Greg Piper - Offsite Presentation

Guys --

I have prepared a couple slides on the Offline project.  Why don't we get together and decide how we want to role this into a single spiel.  Let me know if there is a time that works for you.  Thanks.

-- Rex

 -----Original Message-----
From: 	Spiller, Tina
Sent:	Tuesday, May 22, 2001 9:10 AM
To:	Cannon, Lydia; Cromwell, Sheri L.; Weatherstone, Mary
Cc:	Zipper, Andy; Shelby, Rex; Webb, Jay
Subject:	Meeting with Greg Piper - Offsite Presentation

Andy, Rex and Jay will be presenting together at the Management Offsite on May 30 at the Houstonian.  Greg Piper would like to meet with them together to discuss their presentation.  Please forward availability for a 1-hour meeting either tomorrow, Thursday or Friday.

Thanks,

Tina Spiller
Assistant to Greg Piper
Chief Operating Officer
Enron Net Works LLC
Office 713.853.5746
tina.spiller@enron.com


Kaye:  Please remind me on Monday of this "delivery". Thanks.  Hope you had a
great weekend.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 08/11/2000 05:51 PM -----

	Jeff Nogid
	08/11/2000 01:18 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Copies of ISDA documents

Sara-

AnnMarie Tiller has asked for:

1) A copy of the ISDA Master Agreement with Bear Stearns.

2) 1997 ISDA Government Bond Option Definitions

I don't have copies of the above documents and would be grateful if you can
get copies to her.

Thanks

Jeff


Attached is the Daily Termination List for January 24 and the Master Termination Log, which incorporates all terminations received through January 24.

Stephanie Panus
Enron Wholesale Services
ph:  713.345.3249
fax:  713.646.3490


Ricardo,

I will be joining the East power desk at the beginning of October and I am
trying to get up to speed on the PJM market. Kevin Prestor thought you would
be able to help me find some data. I am looking for the following historics
in excel format (send as much data as you have and feel free to include
anything else that you think might be relevant):

- Daily prices for PJM( West), Cinergy, NEPP, NYPP, TVA and ERCOT
- HDD's and CDD's for Philedelphia, Allentown Washington DC, Baltimore,
Pittsburg, Newark, New York City, Cinncinati and any other cities that are
relevant ?
- Supply outage data for PJM
- Daily Import / Exprot data for PJM
- Historic daily nat gas prices Transco Zone 6 ( NY and Non-NY), Chicago, ...
???

Again, please feel free to make any suggestions. I am very new to the world
of power and it is likely that I have overlooked something very obvious.

Thanx,

Chris Dorland
403-974-6910


Hi Pattie,

I just wanted to make sure that you had a chance to speak with Justin Fernandez.  I thought of him when you mentioned possible candidates for the other open position as he was with our scheduling group and is, I believe, from that area of the country.  If you haven't had the opportunity to establish contact with him please let me know and I will be sure to get each of you the other's contact information.  Hope all is going well with you and I'll talk to you soon.

Thanks,
Susan


This has not been a good day for me but I do want to thank each of you for
all of the help you have given me during the last 7 months. Also, the great
times we've had working and laughing together. Now for the bad or good news,
the 24th of Jan will be my last day as I have excepted a new position at BP
AMOCO.  It is with great pleasure knowing that I did beat Mark McCoy over
there. Thanks again and we will still be friends. ej


I think I received this e-mail in error.  I am in the Legal-financial trading group.

Marie

 -----Original Message-----
From: 	Danilov, Viacheslav
Sent:	Monday, October 01, 2001 9:41 AM
To:	Williams, Matthew D; Hewitt, Kirstee; Heard, Marie
Cc:	Karabatsos, Anastasia
Subject:	FW: Power transmission curves

guys,

I know that Nick is working on something like this.

Please, could you provide your view on whether we are expected to provide sign offs for the methodology.

many thanks,

Slava

 -----Original Message-----
From: 	Karabatsos, Anastasia
Sent:	01 October 2001 15:37
To:	Evans, Coralie; Danilov, Viacheslav
Cc:	Nath, Tani
Subject:	Power transmission curves

Coralie/Slava

We had a meeting with Matt Kernot on Friday, about SMBP, SMSP, RCRC curves for UK power.
These are due to go live in the near term (if they haven't already)

The team is using various scalars to create HH curve if needed.

I was wondering if anyone in Risk or Research had looked at the validity of the curves and scalars and if Risk/Research is expected to sign off on these?


Vince,

We are delighted that you, Christie (and possibly Mark Palmer) will be
attending our upcoming Wharton Impact Conference on October 19-20.  The
final agenda is enclosed (below) - PLEASE NOTE - unless we hear otherwise
from you, we will assume that you will be attending both the DINNER on Oct.
19 and the CONFERENCE on Oct. 20.

This VERY timely event has generated enormous interest.  We look forward to
your participation, and hope you will find this to be a valuable
insight-building experience.

Please call or e-mail if you have any questions about any aspect of the
conference.

Also - I'll look forward to hearing some stories of your exploits during
your recent trip to Poland.  Must have been extremely interesting!

best regards,
Michael Tomczyk

_________________

******************************************************
WINNERS AND LOSERS IN THE E-COMMERCE SHAKEOUT
THURS. OCT. 19 (dinner) and FRI. OCT. 20 (conference)
******************************************************
AGENDA

WINNERS AND LOSERS IN THE E-COMMERCE SHAKEOUT
Thursday,  October 19, 2000 (dinner)
Friday, October 20 (conference)
The Wharton School - Philadelphia, PA

__________________________________________________
Jointly sponsored by the
William and Phyllis Mack Center on Managing Technological Innovation,
Wharton School
Marketing Science Institute
Wharton E-Business Initiative (WEBI)
__________________________________________________

CONFERENCE THEMES & OBJECTIVES

E-Commerce is heading inextricably and rapidly toward an inevitable
shakeout and consolidation that tends to characterize every major new
industry.  This impact conference bringstogether a distinguished group of
industry and academic leaders to discuss what is required to survive the
E-Commerce shakeout, and what it takes to be a "winner" when the shakeout
hits, full-force.

Shakeouts are spawned in the boom-and-bust environment of hot emerging
markets.  An unsustainable glut of competitors is attacted by the
contagious enthusiasm for the emerging technology.  As competition
intensifies and falling prices put pressure on margins there is a wave of
ailures and mergers that removes the weaker players.

Few eCommerce markets--whether e-tailing online exchanges or others---will
be exempted from the forces that cause shakeouts.  This conference will
combine lessons from markets that have experienced shakeouts, with the
latest thinking about the unique features of E-commerce, to identify
successful strategies for surviving a shakeout.

Questions to be addressed include:

- Are the patterns seen in previous shakeouts of high technology markets
applicable to eCommerce?  What are the early warning signs of an impending
shakeout?

- Which eCommerce markets are most susceptible to a shakeout?  Will there
be single or multiple winners?

- Which companies are likely to survive?  What strategies will the winners
use?

There is controversy and uncertainty about which factors will most
contribute to prospects for survival.  How important are first mover
advantages and building brand equity?  What do incumbents have to do to
prevail?  Which business models are most robust?  How important is the
ability to manage strategic partnerships?

These issues will be addressed with a program that encourages active
dialogue and interaction and includes speakers from industry, academia and
Wall Street.

_____________________________________

AGENDA

*************************************
DINNER & REGISTRATION - THURSDAY, OCTOBER 19

5:30 - 6:30p
Registration and Reception

6:30 - 9:00p
Dinner

SURVIVING THE SHAKEOUT: FUNDAMENTALS, FADS AND THE FUTURE
(John Hagel of 12 Entrepreneuring; co-author of the best-selling books NET
GAIN and NET WORTH)

*************************************
CONFERENCE - RIDAY, OCTOBER 20

8:00 - 8:30a

Continental Breakfast & Informal Networking

8:30 - 9:15
INTRODUCTION: UNDERSTANDING THE BOOM AND BUST OF EMERGING TECHNOLOGIES
(George Day, Co-Director of the Mack Center for Technological Innovation and
Boisi Professor of Marketing, the Wharton School and co-editor of WHARTON
ON MANAGING EMERGING TECHNOLOGIES)

9:15-10:00
APPLYING THE LESSONS OF THE PAST TO THE eCOMMERCE FUTURE
(Adam Fein, President, Pembroke Consulting)

10:00-10:30  BREAK

10:30-11:30
IDENTIFYING WINNING AND LOSING INTERNET BUSINESS MODELS
(Raffi Amit, Goergen Professor of Entrepreneurship and Director, Wharton
E-Business Initiative (WEBI); and
David Reibstein, Woodside Prof. of Marketing, Wharton School and Director,
Marketing Science Institute)

11:30-12:15p
TECHNOLOGY INVESTING, 15 THINGS THAT SHOULD BE TRUE
(Stephen J. Andriole, Senior Vice President and Chief Technology Officer,
Safeguard Scientifics)

12:15-1:30
WORKING LUNCH

Participants will work in small groups.  Half the group will be asked to
select an eCommerce firm with a strong likelihood of winning and identify
the most important reasons for success; the other half will be asked to do
the same for a firm that is likely to fail.

1:30-2:15
SMALL GROUP REPORTS

2:15-3:00
FINDING A WINNING STRATEGY
(Norman Drapeau, Chief Executive Officer of MRO.com)

3:00-3:15  BREAK

3:15-4:00
LIVING THROUGH A CONSOLIDATION
(Harry Smilow, previously Chief Executive Officer of Telebank which is now
part of E*Trade)

4:00-4:45
A VIEW FROM WALL STREET
(Henry Blodget, First Vice President and Senior Internet/E-Commerce
Analyst, Merrill Lynch)

4:45-5:00
SUM UP-WHAT HAVE WE LEARNED?  WHAT DO WE NEED TO LEARN?

5:00    ADJOURN
______________________________________

DIRECTIONS TO THE EVENT & ACCOMMODATIONS:

The dinner will be held at The Inn At Penn which is located at 3600 Sansom
Street.   There is also an entrance on Walnut Street between 36h and 37th.

The conference will be held in Steinberg-Dietrich Hall which is located on
Locust Walk on the Wharton campus in Philadelphia.  From the airport or
train station take a taxi to the intersection of 37th Street and Walnut,
walk LEFT onto the campus (there is a broad paved walkway leading into the
campus from that intersection).  At the first intersection you will see a
life sized bronze status of Ben Franklin sitting on a park bench reading a
newspaper.  Turn LEFT at this intersection and Steinberg-Dietrich Hall is
the first building on the Right.  There is a broad entrance with several
doors.  Also, any student can direct you to this building.  Go inside and
take the staircase DOWN to the right -- ROOM 350 is on the LOWER (basement)
level.

ACCOMMODATIONS

Overnight accommodations are available at the Inn At Penn which is across
the street from the campus (tel  215-222-0200 - mention you are here for
the Emerging Tech conference on E-Commerce Shakeouts, to receive the
$164/night Wharton room rate).  Please make your reservations EARLY because
the Inn is often fully booked.    We have reserved a set of rooms for this
event.

If you stay at another hotel in Center City, most hotels (Rittenhouse,
Latham, Ritz Carlton) are approximately 15 minutes by taxi from the campus.
There is also a Sheraton approximately 3 blocks from the campus, on
Chestnut St.

Michael S. Tomczyk
Managing Director
Emerging Technologies Management Research Program
1400 SH-DH/6371
The Wharton School
Philadelphia, PA 19104-6371

Tel 215-573-7722
Fax 215-573-2129
website:  http://emertech.wharton.upenn.edu


Any word yet?  I don't mean to rush you, but Tenaska IV is being very
persistent.
---------------------- Forwarded by Megan Parker/Corp/Enron on 12/04/2000
03:55 PM ---------------------------

	From:  Megan Parker                           12/01/2000 02:45 PM

To: Daren J Farmer/HOU/ECT@ECT
cc:

Subject: Re: Tenaska

That sounds great.  Because of the accrual, I cannot draft this today.  I
will try it on Monday.  What about the demand fee for the payable to Tenaska
IV.  Do you think that is a good idea?  I explained it to Kris Hanson and she
agreed that it was the best way to book this payable.  We would need a new
demand purchase ticket for Tenaska IV on the Cleburne desk in the amount of
$2,803,586.41 with no volume and no commodity.  This is more than we owe
Tenaska IV, but I will net it with the Tenaska IV sale and the $0.04 demand
fee to pay a net amount of $1,551,050.76.  I have attached my spreadsheet
which details our payment.  We will have to adjust this number once we get
the actual volumes.  I would like to pay Tenaska IV next week, so please let
me what you think.

Thanks,
Megan