Vance,

Deal # 446704 has been created and entered in Sitara for Cummins & Walker Oil
Company Inc. for the period 9/26/00 - 9/30/00.

Bob

Vance L Taylor
10/20/2000 04:17 PM
To: Robert Cotten/HOU/ECT@ECT
cc: Lisa Hesse/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT, Cynthia
Hakemack/HOU/ECT@ECT, Susan Smith/HOU/ECT@ECT, Donald P
Reinhardt/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT
Subject: FIRST DELIVERY - CUMMINGS & WALKER AND EXXON

Bob,

The following production is now on-line and a ticket should be created and
entered into sitara based on the following:

Counterparty    Meter   Volumes  Price    Period  Global no.
Cummins & Walker Oil Co.  9857   600mmbtu/d  100% Gas Daily less $0.18 9/26 -
9/30 96048113
           100% IF/HSC less $0.18 10/1 - 10/31 96048113

Suemaur Exploration Co.   9856   2700mmbtu/d  100% Gas Daily less $0.10 10/20
- 10/31 96023525

FYI, Susan will create and submit a committed reserves firm ticket for the
remaining term of the deal beginning with the month of November.
Additionally, this is Producer Svcs. deal and should be tracked in the IM
Wellhead portfolio... attached to the gathering contract.

Thanks,

vlt
x3-6353
---------------------- Forwarded by Vance L Taylor/HOU/ECT on 10/20/2000
04:18 PM ---------------------------

	From:  Esther Buckley                           09/26/2000 01:59 PM

To: Molly L Carriere/HOU/ECT@ECT, Clem Cernosek/HOU/ECT@ECT, Donna
Consemiu/HOU/ECT@ECT, Robert Cook/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT,
Lisa Hesse/HOU/ECT@ECT, Nathan L Hlavaty/HOU/ECT@ECT, Wayne E
Lightfoot/HOU/ECT@ECT, James McKay/HOU/ECT@ECT, Mary M Smith/HOU/ECT@ECT,
Steve HPL Schneider/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT, Michael
Walters/HOU/ECT@ECT, Eric Wardle/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Mary
Jo Johnson/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT, Lauri A Allen/HOU/ECT@ECT,
Cheryl Jones/GPGFIN/Enron@ENRON, Reid Hansen/GCO/Enron@Enron, Darron C
Giron/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Susan Smith/HOU/ECT@ECT,
Gary Bryan/HOU/ECT@ECT, Gary A Hanks/HOU/ECT@ECT, Donald P
Reinhardt/HOU/ECT@ECT, Vance L Taylor/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Robert Cotten/HOU/ECT@ECT, Brian M Riley/HOU/ECT@ECT,
Jeffrey A Austin/HOU/ECT@ECT, Cynthia Hakemack/HOU/ECT@ECT, Dawn C
Kenne/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Kristen J Hanson/HOU/ECT@ECT, J R
Fosdick/GCO/Enron@Enron, Carlos J Rodriguez/HOU/ECT@ECT, Stephanie
Gomes/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Tom Acton/Corp/Enron@ENRON,
Robert Walker/HOU/ECT@ECT, George Weissman/HOU/ECT@ECT, JoAnne
Harris/NA/Enron@Enron, Christy Sweeney/HOU/ECT@ECT, Earl Tisdale/HOU/ECT@ECT
cc:
Subject: FIRST DELIVERY - CUMMINGS & WALKER AND EXXON

See attached letters for First Deliveries


The following documents, received today, have been forwarded for your
immediate attention:

United Paper, Inc., Crown Converting, Inc. and All Pro Paper of Texas, Inc.,
Debtors - Chapter 11 Bankruptcy (jointly administered); No.
3:01-34001-HCA-11, In the U.S. Bankruptcy Court, N.D. of Texas, Dallas Div.
APPOINTMENT OF OFFICIAL UNSECURED CREDITORS COMMITTEE to Bob Butts of Enron
Co., Clickpaper.com by regular mail on 6/7/01.

PLEASE ADVISE IF YOU DO NOT RECEIVE WITHIN 1 BUSINESS DAY.

Thank you !!

Becky A. Stephens
Support Services Coordinator
Enron Litigation Unit, EB4809
713/853-5025
713/853-6576 (fax)
Becky.Stephens@enron.com


Start Date: 4/28/01; HourAhead hour: 4;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042804.txt


Mark Haedicke


Gary/Susan,

It came to our attention yesterday that the PWR-GAS-LT-MGMT-PRC book is
included in the POS-GAS-TRD portfolio.  This book is officalized by Jenny
Latham and the position is not reported on the benchmark.  Therefore, I don't
believe it should be included in the POS-GAS-TRD portfolio.  Also please
ensure that this book is not included in the AGG-GAS portfolio.

Thanks,
Robin


Kay:

Let's discuss how we want to respond to this letter. How are the other items
coming (amendment to contract on payments and LV cogen turbine deliveries,
ESA change order, contract disaggegation, etc.)?

Regards,

Ben
---------------------- Forwarded by Ben Jacoby/HOU/ECT on 09/21/2000 01:47 PM
---------------------------

lee.johnson@ss.ps.ge.com on 09/21/2000 03:25:34 PM
To: ben.f.jacoby@enron.com
cc: kay.mann@enron.com
Subject: FW: Ben Jacoby Letter

-----Original Message-----
From: Minter, Kimberly R (PS, SSEP)
Sent: Thursday, September 21, 2000 3:16 PM
To: Johnson, Lee L (PS, SSEP)
Subject: Ben Jacoby Letter

g            S&S Energy Products
_____________________________________

                                                           A GE Power
Systems Business
Kimberly Minter
Marketing Coordinator

2707 North Loop West, Houston, TX 77008
Phone: 713-803-0316
Fax: 713-869-8365

 - Ben Jacoby.pdf


I had Andy fax me a copy of the ROFR form.  I will pass itt on to you as so as I get it.  The deal ends March-02. It is 1 BCF of storage on the Gulf leg the charge is $3.07 on an MDQ of 13,333 each month.  I have forwarded this to Tom D.  as well.

Sylvia

 -----Original Message-----
From: 	"Edling, Andy" <Andy_Edling@kindermorgan.com>@ENRON
Sent:	Tuesday, November 20, 2001 1:35 PM
To:	Pollan, Sylvia S.
Subject:	NSS Storage Contract #114846

Sylvia, NGPL sent a letter to your attention dated 11/5/01 to notify you
that this contract is up for renewal (expires 6/2/2002) and Enron needs to
notify us by 12/5/01 if it wants to go thru the right-of-first-refusal
(ROFR) process.

This morning a revised letter was faxed in error which stated that the
notification date is now 12/31/01.

PLEASE DISREGARD THIS FAX!

I called and spoke with Lindsey Culotta since you are out today but I wanted
to make sure you got the word that you should disregard this fax and stick
with the original notification date as stated in the 11/5/01 letter.

Please call if you have any questions.

Andy Edling
Account Director
Natural Gas Pipeline Company
713.369.9306 - Tel
713.369.9305 - Fax
andy_edling@Kindermorgan.com


Per discussion with Ted Murphy and Rick Buy, the following policy limit
changes are anticipated.  Note:  these are subject to change given market
volatility.

EES - $2MM Discretionary VaR expiring on 12/22/00  ------------------------>
EXTENDED THROUGH 1/5/01

Aggregate VaR Limit of $140MM - $40MM expiring on 12/22/00 ---------->
EXPIRES AFTER 12/22/00 - reduced to permanent Aggregate VaR Limit of $100MM

NA Gas - $35MM Discretionary VaR expiring on 12/22/00 ------------------>
EXPIRES AFTER 12/22/00 (with reduction in Aggregate VaR Limit to $100MM)

UK Power - $5MM Discretionary VaR expiring on 12/22/00 ---------------->
EXPIRES AFTER 12/22/00 (with reduction in Aggregate VaR Limit to $100MM)

NA Gas - $15MM Discretionary VaR expiring on 12/22/00 ----------------->
EXTEND $10MM THROUGH 1/5/01

       -----------------> REALLOCATE $5MM to UK Power THROUGH 1/5/01.

Therefore, the following VaR limits are/will be in place:

   now - 12/22/00  12/23/00 - 1/5/01 1/6/01
EES    $7MM   $7MM  $5MM

NA Gas    $110MM  $70MM  $60MM

UK Power   $20.3MM  $20.3MM $15.3MM

Aggregate VaR Limit  $140MM  $100MM $83MM

Vlady/Frank - Ted told Lavorato the NA Gas information on Friday.

Vlady/Minal - nothing to my knowledge has been communicated to EES yet.  You
can check with Ted to see if he did already.

Oliver, please communicate the anticipated limit changes for UK Power to the
commercial and risk management/energy ops people who need to know.  If an
extension is needed in the Discretionary VaR, at this point an analysis and
presentation will be required to justify the extension to get Rick Buy and
Ted Murphy to approve.

Feel free to call me with any questions.  I'm out on vacation this week, but
can be reached at home or on my cell phone.

Happy Holidays,
Cassandra.
home  936 321 2185
cell 713 858 2618


User iD:  enronatd
PW:        bnaweb22

 -----Original Message-----
From:  "BNA Highlights" <bhighlig@bna.com>@ENRON
[mailto:IMCEANOTES-+22BNA+20Highlights+22+20+3Cbhighlig+40bna+2Ecom+3E+40ENRON
@ENRON.com]
Sent: Wednesday, June 06, 2001 11:07 PM
To: BNA Highlights
Subject: June 7 -- BNA, Inc. Antitrust & Trade Regulation Daily

__________________________________

ANTITRUST & TRADE REGULATION DAILY
Highlights
Thursday, June 7, 2001
__________________________________

ISSN 1526-520X

Registered Web subscribers can access the full text of these
articles by using the URL link supplied.

Information about becoming a subscriber or signing up for a
FREE Web trial is available at http://web.bna.com or call
BNA  Customer Relations at 1-800-372-1033, Mon. - Fri. 8:30
am - 7:00 pm (ET).
__________

HIGHLIGHTS
__________

SIXTH CIRCUIT AFFIRMS SUMMARY DISPOSITION OF UROKINASE CASE
IN UNPUBLISHED OPINION
The summary disposition of a Sherman Act Section 1 and
Section 2 attack on an exclusive supply contract for a raw
material used to produce urokinase, a broad category of
thrombolytics used for treating clinical conditions caused
by blood clots, is upheld in an unpublished opinion by the
U.S. Court of Appeals for the Fourth Circuit ("Microbix
Biosystems, Inc. v. BioWhittaker, Inc., "4th Cir., No.
00-2262, 6/4/01).

http://pubs.bna.com/ip/BNA/atd.nsf/id/A0A4G7D9H5_

COURT ENJOINS TUMS COMMERCIAL, FINDS CLAIM FOR RIVAL PRODUCT
TO BE LITERALLY TRUE
The manufacturer of Tums(R) may need to take a more costly
competing product as a result of a decision by the U.S.
District Court for the Southern District of New York, which
upholds a competitor's comparative advertising while
enjoining a Tums commercial as literally false in violation
of Lanham Act Section 43(a) ("SmithKline Beecham Consumer
Healthcare, L.P. v. Johnson & Johnson-Merck Consumer
Pharmaceuticals Co., "S.D.N.Y., No. 01 Civ. 2775 (DAB),
6/1/01).

http://pubs.bna.com/ip/BNA/atd.nsf/id/A0A4G7D9K4_

STATE REGULATORS OK, WITH CONDITIONS, ON VERIZON BID TO SELL
LONG-DISTANCE SERVICE
Regulators in Pennsylvania June 6 told Verizon Pennsylvania
they would support the phone company's planned application
to the Federal Communications Commission seeking to provide
long-distance services in the state, provided the company
meets several conditions.

http://pubs.bna.com/ip/BNA/atd.nsf/id/A0A4G7D9P9_

REGULATORY RECIPROCITY COULD OFFER SOLUTION TO COMPETITION
IN CANADIAN BANKING SECTOR
OTTAWA--Permitting foreign banks to do business directly in
Canada under the oversight of their home country regulators
would solve Canada's current problem of maintaining
sufficient competition in the retail banking sector,
according to a study released on May 29 by the C.D. Howe
Institute.

http://pubs.bna.com/ip/BNA/atd.nsf/id/A0A4G7D9R1_

__________
Antitrust & Trade Regulation Daily (ISSN 1526-520X)
Highlights are published daily by The Bureau of National
Affairs, Inc., 1231 25th St., NW, Washington, DC 20037.

For account information and changes, contact 1-800-372-1033
(M-F, 8:30 am-7:00 pm ET)

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summarized article, contact 1-800-452-7773 or e-mail
bnaplus@bna.com.

For copyright guidelines, go to
http://www.bna.com/corp/copyright.

Copyright (c) 2001 by The Bureau of National Affairs, Inc.
Washington, D.C.  20037.  Use of this service is subject to
the terms and conditions of the license agreement with BNA.
Unauthorized access or distribution is prohibited.


Dear Mark and Tana,
After reviewing the password applications available on the Clickpaper and EnronOnline websites it appears that several countries have access to EOL but not to Clickpaper (please see attached).    Since due dilligence has already been completed for the EOL countries and soon Clickpaper will migrate to the EnronOnline trading platform, it seems it might not be too difficult to add mirroring Clickpaper password applications.  Is that the case?  We have business interests in several of the countries accessible solely via EOL.
Best regards,
Marla Thompson
Clickpaper.com Marketing


Both Kim's parents & my mom will be at the house on Christmas eve/Christmas day -- so I think they'll eat their Christmas meal at our house.  I'm sure that Kim, Chad, Mom and Nevin would appreciate a Christmas evening dessert invite.  You can coordinate when you see them for Mexican food on Sat. night.

Have fun at the violin concert.

-----Original Message-----
From: Jewell, Cyndi M [mailto:cjewell@bcm.tmc.edu]
Sent: Tuesday, December 11, 2001 3:51 PM
To: Shelley A. Corman (E-mail)
Subject: Countdown

Hi. Just checking into see how you are doing. As you know, other than
putting up lights and wrapping gifts, I am here to assist (shopping, baking,
card playing, Lego building, dog or cat sitting, Mother entertainment). Do
you think your clan would like to come over for Christmas dinner or at least
in the evening for some dessert? ( I realize you are probably not focused on
food now, but...)
I ordered the phrase book and John, Brianna, and I will start studying.
Tonight, we are going to Miss B's Christmas violin concert!

Take care,
CJB


FYI
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 01/11/2000
02:37 PM ---------------------------

Richard B Sanders
01/11/2000 10:44 AM
To: boakley@bracepat.com
cc:
Subject: Enerstar

FYI
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 01/11/2000
10:39 AM ---------------------------

Dwight Beach
01/06/2000 08:12 PM
To: Richard B Sanders/HOU/ECT@ECT
cc: Steve Van Hooser/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Max
Yzaguirre/NA/Enron@ENRON
Subject: Enerstar

As best as I can recall here was the discussion I had with Michel Abitbol
earlier today.


Carol,  Attached is the revised letter.  Per the voicemail I left last week,
please let me know if there are any issues with us stating the prepay in this
letter.  Also when is TW expecting the payment to be wired.  Need that date.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/19/2000
08:47 PM ---------------------------

Sandeep Kohli@ENRON_DEVELOPMENT
12/17/2000 06:42 AM
To: Vince J Kaminski@ECT
cc:
Subject: DPC Memo

Vince,

I am in Houston (rrived Satruday), and will be in office on Monday (though
officially, I am on vacation).  Would like to catch up with you if possible.

It looks like your team will be getting involved in some form on the DPC
side.  I have already made a recommendation to Wade.

I am attaching a small memo that I have addressed to Wade on the DPC position
and possible workout.  This is still a draft and will likely get shared later
with others.  I would love to get your comments on the same.  At the same
time, this also will give you some idea of the problem, in conjunction with
the other Plan presentation I had sent you.

Look forward to touching base with you.

Regards,
Sandeep.


RIGZONE DAILY NEWS -- FRIDAY, DECEMBER 14, 2001
------------------------------------------------------------
Daily News from the worldwide upstream oil & gas industry
   to view the complete version, please go to:
   http://www.rigzone.com/newsletter_show.asp?n_id=183
------------------------------------------------------------


Matt:

Thanks for the message.  I forwarded your message to Sarah Wesner (Manager in
Finance) and Catherine Clark (Associate  in Finance).
I will be rotation out of the group shortly and they will be your contact
information. Thanks a lot for all your help.  It was a pleasure to work with
you.

Thanks, Humberto

	From:  Matthew F Gockerman                           09/06/2000 03:51 PM

To: Humberto Cubillos-Uejbe/HOU/ECT@ECT
cc: Kay Mann/Corp/Enron@Enron
Subject: Tubine Manifest

Humberto:

Attached please find a Turbine Manifest that details delivery dates for all
24 turbines.

-Matt
(x33979)


Hi Steve and Bob, Happy New Year!!

Steve, based on our meeting in Houston, I met with our engineering and operations folks to discuss the possibility of putting together a new firm (or limited firm) Park N Ride storage service on the pipeline project.  Everyone agreed it is likely doable under certain conditions not the least of which is FERC approval.  The question I have for you is: how much volume and for how long a period?

For example, on any given day, assuming there is no Copper Eagle storage available, it will likely be easier to borrow (ride) gas off the system than to park gas on it.  I think this was your greater concern.

In your ideal world, how much volume would you like to be able to pull off Sun Devil say if your MDQ was 100,000?  Would you want an additional 25,000/day, more or less? and for how long?  Also, how much would you want to Park on the system and for how long?  For purposes of evaluation, assume the cost would be significantly less than a storage option.

If you give me some parameters, we will build a service offering that meets your needs as close as possible.

I will be out of the office on Friday 1/4 but look forward to hearing from you early next week.

Best Regards,
Kevin Hyatt


I guess we are almost there right?

Tx
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 10/25/2000
02:14 PM ---------------------------

	Enron North America Corp.

	From:  Airam Arteaga                           10/25/2000 01:07 PM

To: Deirdre McCaffrey/HOU/ECT@ECT, Sylvia S Pollan/HOU/ECT@ECT, Hunter S
Shively/HOU/ECT@ECT, Robyn Zivic/NA/Enron@Enron, Andrew H Lewis/HOU/ECT@ECT,
Geoff Storey/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT, Kevin
Ruscitti/HOU/ECT@ECT, Patrice L Mims/HOU/ECT@ECT, Jason Williams/HOU/ECT@ECT,
Tom Donohoe/HOU/ECT@ECT, Joe Parks/Corp/Enron@ENRON, Kelli Stevens/HOU/ECT@ECT
cc:
Subject: PIRA

PIRA will be in the office giving a presentation on Natural Gas Outlook.
 The meeting will take place Thursday, November 30th from 3:30 to 5:00 in
EB32C2.

Thanks,
Rain


As a follow-up to my voice mail, attached is a copy of the one page Overview
that I forwarded to Mark Palmer, Mark Koenig, Mark Metts and Mitch Taylor
providing an overview of the Application that we are planning on filing with
the SEC tomorrow.  The attachment is in Power Point.

Because the Application will be filed via Edgar, it will be publicly
available and thus the reason for alerting Mark Palmer and Mark Koenig.

Joe Sutton approved the filing yesterday, and I am waiting to hear back from
Jim Derrick that  Ken Lay and Jeff Skilling have approved making the filing.
As soon as I get a "green light," I will make the filing.

Mark Metts and Mitch Taylor will use the Overview to orally brief Sierra
Pacific.  The important point for Sierra Pacific is that the Application is
being made by Enron for legitimate business purposes unrelated to the PGE
sale, and will not affect the PGE application.  In this regard, we have
expressly indicated in the Application that the PGE application should take
priority and not delay the PGE transaction, and we will visit with SEC Staff
to confirm this treatment.  In any event, the SEC would request us to
identify which application should take priority, and given the fact that the
Application would become moot following a sale of PGE (and at which time we
would withdraw the Application), the SEC should concur.

Please call me if you have any questions.  I also previously prepared a
longer presentation for other members of our management and can provide this
to you if you need further information.

Regards,
Robert


fyi,  what is the purpose of this email.....
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 11/07/2000
02:55 PM ---------------------------

Darren Maloney@ENRON
10/31/2000 09:04 AM
To: Gary Hickerson/HOU/ECT@ECT, Elsa Piekielniak/Corp/Enron@Enron, Mike
McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT
cc: Ted Noble/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Trena
McFarland/NA/Enron@Enron
Subject: Ag Update//EnronCredit + Cargill

FYI

Today EnronCredit completed a deal for Cargill.  Cargill sold to us a 1yr
Bankruptcy Swap on Farmland credit .
Two months ago, European Freight traders completed financial freight trades
with grain cargos originating in
the states for EU and Japanese destinations (Cargill, Dreyfus).  Over the
past two months, MG Structured Finance
(NY) has been working on an export finance deal with ConAgra for grains of
South American origin (US destination
presumably).  Continuing client discussions continue to surface more than a
passing interest for weather products
in the softs (and other agricultural markets from previous discussions).


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/07/2000
04:54 PM ---------------------------

"Edna OConnell" <esai@ma.ultranet.com> on 01/07/2000 02:55:36 PM
Please respond to esai@ma.ultranet.com
To: "ednao@esaibos. com (E-mail)" <ednao@esaibos.com>
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: Bearish Pressure on Gas Price Continues

Here is ESAI's latest issue of the "Natural Gas Fundwatch"

Edna O'Connell
Office Manager
ESAI
301 Edgewater Place, Suite 108
Wakefield, MA 01880
(781) 245-2036
(781) 245-8706
ednao@esaibos.com

 - ng0107001.PDF


---------------------- Forwarded by Rick Buy/HOU/ECT on 11/03/2000 09:16 AM
---------------------------

David Gorte
11/02/2000 07:28 PM
To: David W Delainey/HOU/ECT@ECT
cc: Joseph Deffner/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Rick
Buy/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
Subject: Re: Commodity / Embedded Finance Deals

Dave,

As of today, the Transaction Approval Process requires that any embedded
financing over $500,000 needs to be DASHed.  RAC, however, is close to
finishing a new process for commodity embedded financings--both prepaids and
tilted swaps--that would not require a full DASH but an abbreviated approval
document based upon specified credit ratings, financing amounts, and
maturities for transactions having standard credit documentation.  For
example, a $25 million, five-year exposure to a AAA counterparty with
standard documentation is contemplated to be approved via this abbreviated
approval document.  This abbreviated approval document would only be
available for transactions meeting these criteria if:  (i) structured
financing capacity were available, (ii) the funds flow issue created is
manageable (both (i) and (ii) as confirmed by EGF), and (iii) the pricing met
a threshold that included the structured financing cost, an appropriate
credit spread/reserve, and a syndication risk premium.

The abbreviated approval document is intended to expedite the approval of
relatively straightforward embedded financings where a full DASH is
impractical or inefficient.  It is presently contemplated that the
abbreviated approval document could be approved with two signatures:  the
Originator's and  a RAC signature (either Bill Bradford's or mine), with
business unit management and EGF receiving weekly updates on transactions
approved via this document, but I would welcome your thoughts on this.  In
any event, I will provide you with the proposed abbreviated process by you
for your review and concurrence before if it is implemented since the
preponderance of these transactions are expected to be originated by ENA.

Please let me know if you have any questions or comments.

Regards,

Dave

David W Delainey
11/02/2000 09:25 AM
To: Tim Belden/HOU/ECT@ECT
cc: David Gorte/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Mark E Haedicke/HOU/ECT@ECT

Subject: Commodity / Embedded Finance Deals

Tim, I would argue that we should pursue this business as long as a) we are
being adequately compensated for the financing and underlying commodity risk;
b) we have very good paper; c) we are dealing with solid credits and are
charging an appropriate risk adjusted cost of capital for the underlying
financing; d) we have the ability to syndicate the capital or funds flow
position if needed to manage cash issues and e) that RAC is comfortable that
we are reaching these goals.

Any imbedded financing or $5M or more should be DASHED.  David, Joe and Mark
should be your key contacts to ensure we are adequately managing these issues
but I do not see any fatal flaw in the strategy if priced/managed well and we
watch the funds flow issues.

Regards
Delainey

---------------------- Forwarded by David W Delainey/HOU/ECT on 11/02/2000
09:15 AM ---------------------------

	From:  Tim Belden                           10/31/2000 01:54 PM

To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Commodity / Embedded Finance Deals

---------------------- Forwarded by Tim Belden/HOU/ECT on 10/31/2000 10:57 AM
---------------------------
From: Tim Belden on 10/31/2000 11:54 AM
To: Dave Delainey
cc:
Subject: Commodity / Embedded Finance Deals

---------------------- Forwarded by Tim Belden/HOU/ECT on 10/31/2000 10:56 AM
---------------------------
From: Tim Belden on 10/31/2000 11:52 AM
To: John J Lavorato/Corp/Enron, Dave Delainey
cc: Christopher F Calger/PDX/ECT@ECT
Subject: Commodity / Embedded Finance Deals

We have closed the following deals where we deliver power two a muni in the
short term and get paid back power later on.  These deals have both a
commodity and a finance portion:

Counterparty    Loan Period  Repayment Period  Amount Financed

Grant County    7/01 to 7/06   7/06   $4.7 million
Grant County    5/01 to 7/06   7/06   $5.7 million
Avista/Kaiser    7/2000   7/2000 to 7/2006   $31.3 million
BPA/Kaiser    9/2000   7/2001 to 9/2001   $36 million
Clatskanie    11/2000 to 9/2001 10/2001 to 9/2006  $5 million
Eugene Water and Electric  1/2001 to 3/2002  11/2001 to 4/2002  $4.9 million
Eugene Water and Electric  7/2001 to 12/2002 5/2002 to 12/2002  $7.3 million

We are seeing demand for more of these.  For example, Tacoma City Light is
looking at $35,000,000 + in this type of structure.  What do you guys need to
know about this business and how much of an appetite do we have for this?


Mark:

You should get with Sara on this. I assume he will be using the contract review form that has been developed internally.

Alan

-----Original Message-----
From: Ellenberg, Mark
Sent: Wednesday, February 13, 2002 1:33 PM
To: Shackleton, Sara; Aronowitz, Alan
Cc: david.mitchell@cwt.com; ray.shirai@cwt.com
Subject: review of confirmations

Mark Quaglia, an associate in the capital markets group from New York, will be flying here either tonight or first thing in the morning to review confirmations.  He is planning to stay overnight on Thursday.

Will there be a checklist for him to use in gathering information from the documents, or should we meet to develop something?


Thanks

Does Louise get to review me next year too.

 -----Original Message-----
From: 	Olson, Cindy
Sent:	Thursday, February 08, 2001 10:18 AM
To:	Lavorato, John
Subject:	Organizational Changes

John......Congratulations!!!!!!!!!!
---------------------- Forwarded by Cindy Olson/Corp/Enron on 02/08/2001 10:05 AM ---------------------------

 	  From:  Ken Lay and Jeff Skilling                           02/07/2001 07:23 PM

Sent by:	Ken Lay and Jeff Skilling
To:	All Enron Worldwide
cc:

Subject:	Organizational Changes

Enron is forming a new organization - - the Enron Xcelerator - - to drive the formation and development of new businesses at Enron.  Enron's unique ability to start and develop new businesses has driven most of our growth over the years.  Lou L. Pai, currently Chairman and CEO of Enron Energy Services, will lead the Xcelerator.  Over his years at Enron, Lou has been key to the creation and rapid growth of our wholesale gas, wholesale power and energy service businesses.  The existing business units will continue their development of core businesses, while the Xcelerator will be responsible for developing new business opportunities that are natural extensions of Enron's business model and core skills, but not currently under development elsewhere in Enron.

Dave Delainey, currently President and CEO of Enron Americas, will become Chairman and CEO of Enron Energy Services.  Dave brings a wealth of experience and accomplishment from Enron Wholesale Services' businesses where he led the growth of our Canadian business and our North American origination activity and, most recently, had a great year in Enron Americas.

Dave is forming an Office of the Chairman in EES.  Joining Dave in the Office of the Chairman are Dan Leff, President of EES, Global Energy Services, and Marty Sunde, President of EES, Global Marketing and Services.  Dan and Marty have been instrumental in the development and execution of the successful EES business model.  Also joining the Office of the Chairman of EES is Janet Dietrich as Chief Operating Officer.  Janet, currently is Managing Director in Enron Americas, where she has been successful in many of Enron Wholesale's core businesses, including gas trading, risk management and structural origination.  Tom White will continue as Vice Chairman of EES and will focus on the development and expansion of EES' customer relationships.  Lou, Tom, Dan, Marty and the entire EES organization have developed a great business model with great growth prospects.  EES has become an essential part of Enron's market valuation and growth story.  This new leadership structure will enable EES to continue on its path of sustained growth and increasing profitability.

John Lavorato will succeed Dave as President and CEO of Enron Americas.  John has been an essential part of Enron's energy trading success over the years and is a key part of Enron Wholesale Services' continuing success story.  Joining John is Louise Kitchen, currently President and CEO of Enron NetWorks.  Louise, who accelerated Enron's outstanding growth with the deployment of EnronOnline, will take over as Chief Operating Officer of Enron Americas.

Philippe Bibi, currently Chief Operating Officer of Enron NetWorks will take over as President and CEO of Enron NetWorks.  Under Philippe's leadership, Enron has become a technology leader and the leading e-commerce company.  Joining Philippe as Chief Operating Officer is Greg Piper, currently Managing Director of Enron NetWorks.  Greg currently leads Enron NetWork's origination activity and was responsible for the creation and deployment of ClickPaper, Enron's successful online pulp and paper marketplace.

Please join us in congratulating all of these individuals on their achievements and their new responsibilities.

<Embedded Picture (Device Independent Bitmap)>


Gee, if you hurry you can still make it to the volleyball game.


Not everything is bad in electricity competition.

Jim

---------------------- Forwarded by James D Steffes/HOU/EES on 08/17/2000
03:08 PM ---------------------------
From: Margo Reyna@ENRON on 08/17/2000 11:26 AM
To: Richard Shapiro/HOU/EES@EES, James D Steffes/HOU/EES@EES
cc:
Subject: Electric Restructuring: Despite bad name, restructuring benefiting
some areas

I don't know if you have seen this article, but perhaps it can help provide
some ammunition regarding the benefits of restructuring.
---------------------- Forwarded by Margo Reyna/NA/Enron on 08/17/2000 11:24
AM ---------------------------

djcustomclips@djinteractive.com on 08/16/2000 11:13:51 AM
Please respond to nobody@mail1.djnr.com
To: 200144@mailman.enron.com
cc:
Subject: Electric Restructuring: Despite bad name, restructuring benefiting
some areas

Despite bad name, restructuring benefiting some areas

08/14/2000
The Energy Report
(c) Copyright 2000 Pasha Publications, Inc. All Rights Reserved.
The recent problems in San Diego and the media attention surrounding the
power shortages and retail price spikes leads one to believe the problems are
solely the result of restructuring efforts. However, some areas that have
"deregulated" don't regret the decision.
Last week, Pennsylvania Gov. Tom Ridge said that electric competition will
save consumers in his state $3 billion by 2001 and increase productivity,
employment and personal income by 2004. His comments came as a response to a
report recently issued by the state government.
The report, prepared by the state Department of Revenue to measure the impact
of restructuring on state finances, said that forecast reductions in retail
electricity prices will improve the state's economy in several ways.
By 2004, as a direct result of electric competition, the report says:
** The real gross state product will be $1.9 billion, or 0.5%, higher than
the baseline;
** Overall employment will increase by 0.5%, amounting to 36,400 full-time
and part-time jobs, including more than 3,000 manufacturing jobs, nearly
7,000 retail-sector jobs, more than 5,000 construction jobs, nearly 2,700
transportation and public utility jobs, and more than 12,000 service-sector
jobs;
** Nominal personal income will increase by $1.4 billion, or 0.3%;
** The price index will decrease by 0.47%; and,
** The population will increase by 51,400 persons, or 0.4%, as workers move
to the state.
"Pennsylvania's national leadership in electric competition continues to
bring dramatic savings and economic benefits to Pennsylvanians," Ridge said.
"And, according to this new report, those savings and benefits will continue
for some time to come. We expect electric competition will help create more
than 36,000 jobs between 1998 and 2004, and have a major positive impact on
our state's economy. And millions of Pennsylvania families and employers
continue to save money on their electric bills - without even lifting a
finger."
Savings from electric restructuring allow consumers more money to spend and
invest, creating positive multiplier effects on the state economy, Secretary
of Revenue Robert Judge said.
"Our research confirms that while consumers of electricity will realize rate
reductions, there are many other benefits to Pennsylvania through electric
competition," Judge said.
The Public Utility Commission estimates that consumers will save nearly $3
billion by January 2001 due to electric competition.
The report includes an analysis of the effects of restructuring on sales tax
and personal income tax revenue. The 1996 restructuring law required that
deregulation bring no net effect on "immediate" state tax collections, the
report says. Under the law, the Revenue Department must report to governor
and the General Assembly providing information on tax revenues to enable
lawmakers to judge the law's impact on the economy and to decide whether new
laws are necessary to "maintain tax revenue neutrality during the transition
period."
The revenue neutral reconciliation, the adjustment mechanism used to compare
tax revenues collected before restructuring and after restructuring, is
working as intended, the report says.
As required by the law, the Revenue Department will produce two more reports
for the General Assembly and the Governor, one in August 2001 and one in
August 2002.
Like Pennsylvania, some in Ontario say the movement toward a competitive
market for electricity has saved customers upwards of $500 million through
rate reductions.
Even though the Ontario Energy Board (OEB) is currently considering scaling
back or stopping the move to competitive markets, one of the province's
largest utilities, Toronto Hydro-Electric, says local regulators should
recognize the savings from restructuring.
Toronto Hydro says the restructured market is successful because of the
"utility's commitment to fair prices and safe reliable service in the new
competitive electricity market." Since 1993, rates have fallen for all
customer classes, the utility claims.
"We agree whole-heartedly with the need to protect consumers in the new
electricity market," Toronto Hydro Vice President Blair Peberdy said. "As a
municipal electric utility, we've protected consumers to the tune of more
than $500 million through rate reduction strategies for the past seven years.
Our rates are 12.5% below the consumer price index and we have reduced rates
since 1993. That's why we're keen for the province to stay focused on
introducing commercial reforms in the electricity distribution sector. We've
invested millions in preparing for the opening of the new energy marketplace
already and we're ready to go."
The utility warned against further forced rate reductions in light of the
savings they have produced. Toronto Hydro also called for regulators not to
lower prices at the expense of more reliable service.
"Considering the rate freezes and reductions that Toronto Hydro has
implemented since 1993, price minimization should not outweigh other
objectives in the OEB act," the testimony says. "Protect consumers not just
in terms of rates, but also in terms of the quality of electric distribution
services."
The company is also pushing for regulatory action to move along with
competitive reform, not to delay the developing market already in a
transition phase, because it might scare away new participants.
"The government has put a solid foundation in place for the new electricity
market," Peberdy said. "Now is the time to look forward, not back. We're
excited about the potential for new investment, new energy technologies and
new business opportunities for Toronto Hydro, and we are prepared to work
with the OEB to develop options that will help sustain the government's
vision."

Folder Name: Electric Restructuring
Relevance Score on Scale of 100: 79

______________________________________________________________________
To review or revise your folder, visit Dow Jones CustomClips or contact Dow
Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone
at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact
your local sales representative.)
______________________________________________________________________
Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved


Company: 000236     Arng: 37147-00709     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        24                    24
Working                          24                    24
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01848     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        87                    87
Working                          87                    87
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01849     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        13                    13
Working                          13                    13
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01850     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                       208                   208
Working                         208                   208
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01851     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                         6                     6
Working                           6                     6
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01891     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        19                    19
Working                          19                    19
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01918     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        24                    24
Working                          24                    24
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01919     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        79                    79
Working                          79                    79
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01920     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        84                    84
Working                          84                    84
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01921     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                       401                   401
Working                         401                   401
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-01923     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                       312                   312
Working                         312                   312
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-05683     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        46                    46
Working                          46                    46
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 37147-10160     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                        24                    24
Working                          24                    24
Capacity Allocation               0  CCR                0
Confirmed                         0                     0

Company: 000236     Arng: 66917-00009     Eff Date: 2001-11-20

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                       225                   225
Working                         225                   225
Capacity Allocation               0  CCR                0
Confirmed                         0                     0


I just spoke with Krystal at Kern and John Stafford at Patina:
Kern Legal will not finish reviewing until Monday.  At that time they will
approve, revise, or reject the changes to the Assignment Agreement.  I
reiterated that Enron is comfortable with the changes.
John Stafford is comfortable with Gerald's Indemnity Letter Agreement
(below), but would strongly prefer to have the indemnity language
incorporated into the Assignment Agreement itself, if it is possible in a
timely fashion.
John indicated he would be willing to conference in with Gerald and Kern's
attorney(s) first thing Monday morning if we felt it would be helpful.
Bottom line:  It looks like we can shut the door on this, one way or the
other, on Monday morning.

Tyrell Harrison
303 575 6478

	Gerald Nemec@ECT
	04/13/2001 10:58 AM

		 To: Tyrell Harrison/NA/Enron@Enron, jstafford@patinaoil.com
		 cc: Barry Tycholiz/NA/Enron@ENRON
		 Subject: Indemnity Agreement

Attached is a letter agreement which specifies ENA's indemnity obligations
for Patina wrt the Kern Transport Agreement.  Please review and if acceptable
print and execute along with the Kern River assignment form.  If you wish to
discuss, please contact me at (713) 853-3512.  Thanks for your assistance.


Liz or Stacey - There is flow at meter 74 on 9/14 (499 dth).  The deal for
this meter (400289) did not start until 9/15.  Could one of you extend the
deal for this?  I would be greatly appreciated.

Aimee


Please print all of these.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/05/2001 02:42
PM ---------------------------

Heather Kroll@ECT
02/05/2001 01:54 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Term Sheets

Here are the other term sheets I promised.

Heather


Hi Vince,

 I spoke with Ray again, and he seems to have the background necessary to
work with the insurance group here.
He is not an actuary, but he can work with data.  Would you mind calling him
on the phone sometime next week?
Please let me know what time you would call him, so I can let him know.  Once
you speak with him, then maybe we can
bring him down for interviews, if you think it appropriate.

His business phone number is 816 889 4417

Thanks,
 Vasant

---------------------- Forwarded by Vasant Shanbhogue/HOU/ECT on 01/07/2000
11:01 AM ---------------------------

"Spudeck, Ray E. MS-RES" <rspudeck@naic.org> on 12/29/99 02:24:09 PM
To: Vasant Shanbhogue/HOU/ECT@ECT
cc:
Subject: My resume

Vasant,

I enjoyed our telephone conversation this morning.  From our conversation,
it sounds like Enron is moving out on the cutting edge of risk transfer and
insurance finance.  In my mind, there seem to be a myriad number of
interesting opportunities moving forward.  As well, I see a number of issues
that would need to be resolved.  Frankly, I find that quite exciting.  I
left academics largely because I wanted to move into a more "front line"
career. While I've enjoyed my work here at the NAIC, it is still not where I
ultimately see myself.  I gathered from your comments some concern about my
being too senior in the organization.  If I am interpreting you correctly,
you are concerned about hands on technical work.  I enjoy that immensely and
some of the strengths I bring to the table are the ability to think
creatively about solving financial problems and the the ability to make data
tell the underlying story.

I look forward to talking to you next week.  I just found out that our
office building will be closed Monday, so I will not be in until Tuesday
a.m.

Ray Spudeck
Sr. Research Associate
(816)889-4417
rspudeck@naic.org

 <<resumeRES.doc>>

 - resumeRES.doc


FYI.
---------------------- Forwarded by Jeff Dasovich/SFO/EES on 08/29/2000 10:27
AM ---------------------------

Gary Ackerman <foothi19@idt.net> on 08/24/2000 06:49:26 PM
Please respond to foothi19@idt.net
To: Bill Ross <billr@calpine.com>, Bob Anderson <Robert_Anderson@apses.com>,
Carolyn Baker <cabaker@duke-energy.com>, Corby Gardin
<jcgardin@newwestenergy.com>, Curtis Kebler
<Curtis_L_Kebler@reliantenergy.com>, Denice Cazalet <dcazalet@apx.com>, Gene
Waas <glwaas@calpx.com>, Greg Blue <gtbl@dynegy.com>, Jack Pigott
<jackp@calpine.com>, Ken Czarnecki <Ken_J_Czarnecki@calpx.com>, Kent
Wheatland <KEWH@dynegy.com>, "Klemstine, Barbara A(F56661)"
<barbara_klemstine@apses.com>, Randy Hickok <rjhickok@duke-energy.com>, Rob
Lamkin <rllamkin@seiworldwide.com>, Rob Nichol <rsnichol@newwestenergy.com>,
robert berry <berry@apx.com>, Roger Pelote <rpelote@energy.twc.com>, Sue Mara
<smara@enron.com>, curt hatton <curt.Hatton@gen.pge.com>, Jeff Dasovich
<jdasovic@enron.com>, Dan Douglass <douglass@arterhadden.com>, Tim Belden
<tbelden@ect.enron.com>
cc:
Subject: Wall Street Journal Asking for Our Data

URGENT REPLY AND ACTION NEEDED

Folks,

Rebecca Smith of the Wall Street Journal called me today and asked how
she could access the bid data the ISO has for the generators in order to
do an investigative in-depth analysis of what has occurred in
California's wholesale power market.  Before I get into the details of
her request, I would urge you in the strongest way possible to consider
her request, and grant it.  We need the light of truth to shine on our
business, and the Wall Street Journal may be one of our best aids.  And
consider this, the data will be available to her  in six months, anyway.

Rebecca's intent is to study the data, and understand the true behavior
of the wholesale market for a given month.  She said July 2000 would
work.  Her hypothesis is unlikely that the hype by Gov Davis and the
State of accusing in-state and out-of-state generators of being gougers
and the guitly parties , and can be deminished by the data.  She thinks
there are plenty of people in the generation market who are playing this
straight as an arrow.  Without the data, she can't say anything
conclusive. (of course, I wonder how she will gather the UDC bid data?)

I have one question.  Did the ISO give the detailed bid data to the EOB
or the PUC?  I thought because neither the EOB nor the ISO would or
could keep the data confidential, the detailed bid data was not
released, only the aggregate data.

I asked her if she would keep the data confidential, in other words, not
pass it on to other parties.  She said she could.  I asked her if other
assocaites of the Wall Street Journal would have access to the data.
She said probably  in order to do an in depth analysis others would have
access on a need to know basis, but that the data would not leave the
Wall Street Journal's control.

Tell me what we should do, and tell me quickly.

gba


---------------------- Forwarded by Eric Bass/HOU/ECT on 06/29/2000 03:01 PM
---------------------------

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 06/29/2000 02:48:25 PM
To: peggy dan maynard <peggy@airmail.net>, Pam Day <pkjday@yahoo.com>,
michael don ferguson <mfe252@mail.airmail.net>, "Marsters, Linda"
<lmarsters@fortbend.k12.tx.us>, Julie & Mark Stevens <JUMACK@airmail.net>,
joni drude <jfdr@chevron.com>, jason <jason.bass2@compaq.com>, "Henry C.
McGill" <hmcgill-satx@worldnet.att.net>, gail stoops <Ggstops@aol.com>, Frank
Marsters <marstersco@earthlink.net>, eric preston bass <Eric.Bass@enron.com>,
christine marsters <wxranch@airmail.net>, Bill Daniel <bdaniel@pflash.com>,
beth dahlberg <dhlbrg@aol.com>, Barbara Bass <xwb2@flash.net>, Andrea Lyles
<andrearonnie@cs.com>, ryan darr <fastfeet15@aol.com>, richard and marty darr
<Rdarr@flash.net>, lauren darr <L2giveJ@aol.com>
cc:
Subject: Fw: When in Rome

?
----- Original Message -----
From: Jack Rains
To: jmrtexas@swbell.net
Sent: Thursday, June 29, 2000 7:45 AM
Subject: When in Rome

?

Another view. I suspect we  have not heard the last of this debate

?

JR

?

?

?

Boy, if this ain't the  truth...

> > This just about sums it up!!
> >
> >  The following article ran in the Times Record News, Wichita  Falls,
Texas:
> >
> > When in Rome, Pray As........
>  > By: NICK GHOLSON
> >
> > Some people, it seems, get  offended way too easily.? I mean, isn't that
what all this prayer  hullabaloo is all about - people getting offended?
> >
> > At  least that's what I hear the courts and the ACLU telling us.? I am
not  easily offended.? Outside of getting run off the road by a Mack  truck,
nothing much offends me.? Daddy and Mama gave little Nicky a  sense of humor.
> >
> > Some people, however, either weren't  born with a sense of humor or they
lost it in a crap game.?? These  people are still in the minority, but those
of us in the majority are always  tippy-toeing around, trying to make sure we
don't step on the toes or hurt  the feelings of the humorless. And you can
bet there's a lawyer standing on  every corner making sure we don't.
> >
> > Take this prayer  deal.? It's absolutely ridiculous.? Some atheist goes
to a high  school football game, hears a kid say a short prayer before the
game and gets  offended.? So he hires a lawyer and goes to court and asks
somebody to  pay him a whole bunch of money for all the damage done to him.
You would have  thought the kid kicked him in the crotch.? Damaged for life
by a  30-second prayer?
> >
> > Am I missing something here? I don't  believe in Santa Claus, but I'm not
going to sue somebody for singing a  Ho-Ho-Ho song in December.? I don't
agree with Darwin, but I didn't go  out and hire a lawyer when my high school
teacher taught his theory of  evolution.
> >
> > Life, liberty or your pursuit of happiness  will not be endangered
because someone says a 30-second prayer before a  football game. So what's
the big deal?? It's not like somebody is up  there reading the entire book of
Acts.
> >
> > They're just  talking to a God they believe in and asking him to grant
safety to the  players on the field and the fans going home from the game.
> >
>  > "But it's a Christian prayer," some will argue. Yes, and this is  the
United States of America, a country founded on Christian principles And  we
are in the Bible Belt.? According to our very own phone book,  Christian
churches outnumber all others better than 200-to-1.? So what  would you
expect - somebody chanting Hare Krishna?? If I went to a  football game in
> > Jerusalem, I would expect to hear a Jewish  prayer.? If I went to a
soccer game in Baghdad, I would expect to hear a  Muslim prayer.? If I went
to a ping pong match in China, I would expect  to hear someone pray to
Buddha.
> >
> > And I wouldn't be  offended.? It wouldn't bother me one bit. When in
Rome...
>  >
> > "But what about the atheists?" is another argument.? What  about them?
Nobody is asking them to be baptized.? We're not going to  pass the
collection plate.? Just humor us for 30 seconds.? If  that's asking too much,
bring a walkman or a pair of ear plugs.? Go to  the bathroom.? Visit? the
concession stand.? Call your  lawyer.
> >
> > Unfortunately, one or two will make that call.  One or two will tell
thousands what they can and cannot do.? I don't  think a short prayer at a
football game is going to shake the world's  foundations.? Nor do I believe
that not praying will result in more  serious injuries on the field or more
fatal car crashes after the game.?  In fact, I'm not so sure God would even
> > be at all these games if He  didn't have to be.? That's just one of the
downsides of omnipresence. If  God really liked sports, the Russians would
never have won a single gold  medal, New York would never play in a World
Series and Deon Sanders' toe  would be healed by now.
> >
> > Christians are just sick and  tired of turning the other cheek while our
courts strip us of all our  rights.? Our parents and grandparents taught us
to pray before eating,  to pray before we go to sleep.? Our Bible tells us
just to pray without  ceasing.? Now a handful of people and their lawyers are
telling us to  cease praying.? God, help us.
> >
> > And if that last  sentence offends you - well............just sue  me.
>
>


Vince,

Since you are not here today, I just sent out the presentation of the model I
prepared for John
for his feedback.  I would appreciate that you review it before we make the
final version.

Obviously, this simulation model is going to make a big impact on our online
trading.  And I am happy
that we have accomplished this task effciently and elegantly.

Zimin

---------------------- Forwarded by Zimin Lu/HOU/ECT on 12/06/2000 01:25 PM
---------------------------

Zimin Lu
12/06/2000 01:21 PM
To: John J Lavorato/Corp/Enron@Enron
cc: Stinson Gibner/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
Subject: WTI trading simulation model - presentation

John,

I put together a presentation of the simulation model for WTI market maker
for you.
The P/L results are investigated by assuming different scenarios.

The key variable is the number of trade per day, therefore is varied  from
200 to 1000 trades.

Scenarios are generated by different spreads, net open position allowed, and
time period.

Take a look what I have prepared, and let me know things you want to add or
delete.
If you have any questions, I will be happy to discuss with you.

Zimin

PS: this presentation is only for the open-close trading.  I will produce
exact the same
sequence for the continuous trading (close-close) once you approve the
content.


-----Original Message-----
From: 	Taylor, Mark E (Legal)
Sent:	Tuesday, October 16, 2001 3:50 PM
To:	Cook, Mary; Gray, Barbara N.; Greenberg, Mark; Hendry, Brent; Koehler, Anne C.; Leite, Francisco Pinto; Nelson, Cheryl; Sayre, Frank; Shackleton, Sara; Bailey, Susan; Boyd, Samantha; Heard, Marie; Jones, Tana; Panus, Stephanie
Subject:	Work Reports

Please remember to get your work report updates to me by the end of the day.

Mark Taylor
Vice President and General Counsel
Enron Wholesale Services
1400 Smith Street - EB3892
Houston, Texas 77008
(713)853-7459
(713)646-3490 (fax)


David

I had a few minor suggestions, as set out below.  Please also note the
following:

SHELL had requested that the limitation of liability in clause 4(a) be
mutual; I have therefore left clause 4(a) as it stands, but added new clause
4(c) below.

The risk of including the language in (b)(ii) below is that SHELL will ask
for Enron for a  indemnity to the extent that SHELL suffers Loss arising out
of Enron's breach of the Agreement.  I have also sought to restrict the
circumstances where breach by SHELL would trigger the indemnity - I believe
sub-clauses (a), (c) and (d) of clause 2 capture these.

 (b)  Counterparty shall indemnify, protect, and hold harmless Enron and its
directors, officers, employees and agents from and against any and all
losses,   liabilities, judgments, suits, actions, proceedings, claims,
damages, and costs (including attorneys, fees) (collectively, &Loss8)
resulting from or arising out of (i) any  Transactions executed through the
Website by any person obtaining access to the Website through the Passwords
(as defined in the Password Application), whether  or not Counterparty has
authorized such access, or (ii) any material breach by Counterparty of its
obligations under clause 2(a), (c) or (d) of this Agreement, provided  that,
in no event will Counterparty have any liability under this clause 4(b) for
any Loss caused by the negligence or wilful misconduct of Enron.

 (c)  SUBJECT TO CLAUSE 4(b), IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE
OTHER PARTY FOR ANY SPECIAL, INDIRECT, INCIDENTAL,   PUNITIVE OR
CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF BUSINESS, LOSS
OF PROFIT, LOSS OR CORRUPTION OF DATA,  LOSS OF GOODWILL OR REPUTATION OR
WASTED MANAGEMENT TIME) WHICH MAY BE INCURRED OR EXPERIENCED ON ACCOUNT OF
EITHER   PARTY ENTERING INTO THIS AGREEMENT.

 (d) Nothing in this Agreement shall have the effect of limiting or
restricting either party's liability arising as a result of fraud.

Look forward to your response.

Thanks.
Justin

	Enron Capital & Trade Resources Corp.

	From:  GILBERGD@sullcrom.com                           18/10/2000 23:36

To: justin.boyd@enron.com
cc:

Subject: ETA

Justin:  Attached is a proposed revision of Section 4(b) of the ETA, as we
discussed.  I have attempted both to narrow its scope and to carve out the
negligence, misconduct or breaches of Enron.  Please call or e-mail with any
thoughts or comments.  Best regards.

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - UKETA.doc


As we discussed.

Enjoy your time with the kids.


Sorry, thought that he'd been added.


FYI,

Someone requested I resend this language.

---------------------- Forwarded by Brant Reves/HOU/ECT on 01/22/2001 08:47
AM ---------------------------

Brant Reves
01/19/2001 02:17 PM
To: Kim Ward/HOU/ECT@ECT, Barry Tycholiz/NA/Enron@ENRON
cc: Edward Sacks/Corp/Enron@Enron, Tracy Ngo/PDX/ECT@ECT, Wendy
Conwell/NA/Enron@ENRON
Subject: El Paso credit terms

Kim/Barry,

Situation 1:
The following credit matrix could be included within Section 12 of the
Jan'02-Dec'03 transaction between ENA and El Paso Electric Company.

STANDARD & POOR'S RATING EVENT	CREDIT LINE
BBB- or Above	Open
BB+	$10,000,000
BB	$5,000,000
BB- or Below	$0

Situation 2:
Without credit lines, the credit reserve for this deal would be $450,000.

In addition, the most recent S&P write-up is attached below.

brant

Research:
                                                                  Return to
Regular Format
  Summary: El Paso Electric Co.
  Publication Date:
              01-Aug-2000
  Analyst:
              Judith Waite, New York (1) 212-438-7677

 Credit Rating:
                                       BBB-/Stable/--

  Rationale

    Debt reduction, cost cutting, and increased sales have brought El Paso
Electric Co. back toward
    investment-grade benchmarks. The company has exceeded debt-reduction
targets and expects debt to be
    about 50% of total capital by 2002. If sales continue to grow at even
one-half the historical 3% to 4% per year,
    cash flow interest coverage should improve to 3.5 times by then. Still,
the ratings on El Paso Electric continue to
    reflect the company,s high leverage, dependence on nuclear power, high
fixed costs, and high rates.

    The company borrowed heavily to fund its 15.8% interest in the Palo Verde
nuclear plant, which supplies 50% of
    the utility,s power. The plant,s past operating problems and continued
structural problems add some risk to the
    company,s already weak financial profile. Most importantly, customers in
the generally low-income service
    territory fought against rate increases needed to recover the nuclear
investment, helping to put El Paso Electric
    in bankruptcy. A settlement signed with Texas customers in 1995 allowed
the company to keep a $25 million
    rate increase implemented in 1994, permitted accelerated depreciation of
generation and transmission assets,
    and froze rates until 2005 in exchange for extending the El Paso Electric
franchise.

    In 1998, the company agreed to reduce rates--mainly residential--in New
Mexico and Texas, bringing them
    more in line with Southwestern averages. By the time retail competition
comes to either state (2002), El Paso
    Electric will have a fairly competitive cost structure which should allow
them to retain retail customers. By that
    time, El Paso Electric will have separated its assets into a regulated
transmission and distribution business
    and an unregulated electricity generation business, as required by New
Mexico and Texas law. Costs incurred
    to effect this change will be recovered in a competitive transition
charge. Stranded costs (accrued charges
    related to generating plant costs which would have been recovered in a
regulated market) will be recovered over
    a five-year transition period in New Mexico. In Texas, the rate
settlement allowed El Paso to recover those costs
    through accelerated depreciation over the 10-year period of the
settlement agreement.

    In the wholesale market, El Paso successfully renegotiated contracts with
the Comision Federal de
    Electricidad, the national utility of Mexico, to supply peaking capacity
in the summer months of 2000 and 2001,
    and with the Rio Grande Electric Cooperative Inc. to supply power to two
Texas cities over a four-year period.
    Importantly, El Paso Electric also reached a settlement with the city of
Las Cruces, N.M., ending a long dispute
    over that city,s threat to municipalize the electric distribution system.
Las Cruces sales account for about 8% of
    total revenue.


Start Date: 4/24/01; HourAhead hour: 19;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042419.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 19 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: EES
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  UNIT_ID: BADLND_7_PL1X2

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 19 / Preferred:   2.41 / Final:   2.32)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE4
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  SC_ID: EPMI


Gavin comes through!


get this......he didn't even wake up!  He had no idea that you were there and couldn't figure out how Murphy got out of his room.

 -----Original Message-----
From: 	Scott, Susan M.
Sent:	Monday, October 15, 2001 12:10 PM
To:	Smith, Matt
Subject:	battle wounds

i sustained injuries from friday night....two minor scratches on my index finger due to the cat, and a sore neck from head banging to limp bizkit....think mo suffered from the neck injury as well....hope your roomie wasn't irritated by the ruckus.


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 11/17/2000
08:27 AM ---------------------------

"George Richards" <cbpres@austin.rr.com> on 11/17/2000 05:25:35 AM
Please respond to <cbpres@austin.rr.com>
To: "Phillip Allen" <pallen@enron.com>, "Larry Lewter"
<retwell@mail.sanmarcos.net>
cc:
Subject: SM134 Proforma.xls

Enclosed is the cost breakdown for the appraiser.  Note that the
construction management fee (CMF) is stated at 12.5% rather than our
standard rate of 10%.  This will increase cost and with a loan to cost ratio
of 75%, this will increase the loan amount and reduce required cash equity.

Also, we are quite confident that the direct unit and lot improvement costs
are high.  Therefore, we should have some additional room once we have
actual bids, as The Met project next door is reported to have cost $49 psf
without overhead or CMF, which is $54-55 with CMF.

It appears that the cash equity will be $1,784,876.  However, I am fairly
sure that we can get this project done with $1.5MM.

I hope to finish the proforma today.  The rental rates that we project are
$1250 for the 3 ADA units, $1150-1200 for the 2 bedroom and $1425 for the 3
bedroom.  Additional revenues could be generated by building detached
garages, which would rent for $50-75 per month.

 - winmail.dat


Gracias.  DF

	From:  Bill Cordes                           02/10/2000 01:36 PM

To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Re: LRC Joint Venture

No problem. I told Brian that Horton would be the final decider,since he may
have stuff going on that we are not aware of.

    Bill

	From:  Drew Fossum                           02/10/2000 11:29 AM

To: Bill Cordes/ET&S/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@Enron
cc:

Subject: LRC Joint Venture

I don't see any problem with this transaction since it appears to be limited
to Louisiana assets, but the issue of whether we are impacted by the
noncompete agreement strikes me as a commercial call.  Please let me know if
you have any problem with the transaction and I will pursue it.  Thanks.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 02/10/2000
11:25 AM ---------------------------

Michael Moran
02/09/2000 01:58 PM
To: Louis Soldano/ET&S/Enron@ENRON, Dorothy McCoppin/FGT/Enron@ENRON, Phil
Lowry/OTS/Enron@ENRON
cc:

Subject: LRC Joint Venture

Please see the attached and let me know if you have any problems so that GPG
can respond to Brian Redmond.
---------------------- Forwarded by Michael Moran/GPGFIN/Enron on 02/09/2000
01:55 PM ---------------------------

Brian Redmond@ECT
02/09/2000 01:44 PM
To: Sherri Reinartz@ENRON, J Mark Metts/NA/Enron@Enron, Stephanie J
Harris@ENRON_DEVELOPMENT, Rob Walls/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rex
Rogers/Corp/Enron@Enron, Charles Cheek/Corp/Enron@ENRON, Peggy Fowler@ENRON,
Al Alexanderson/Enron@Gateway, Rebecca P Mark/HOU/AZURIX@AZURIX, John
Ale/HOU/AZURIX@AZURIX, Mark Frevert/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT,
Michael Burke/Houston/Eott@Eott, Steve Duffy/Houston/Eott@Eott, Cliff
Baxter/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT,
Timothy J Detmering/HOU/ECT@ECT, Bill Donovan/EPSC/HOU/ECT@ECT, Elizabeth
Labanowski/EPSC/HOU/ECT@ECT, Stanley Horton/Corp/Enron@Enron, Michael
Moran/ET&S/Enron@ENRON, Bill Cordes/ET&S/Enron@ENRON, Larry
DeRoin/NPNG/Enron@ENRON, Janet Place/NPNG/Enron@ENRON, Ken Rice/Enron
Communications@Enron Communications, Kristina Mordaunt/Enron
Communications@Enron Communications, Andrew S Fastow/HOU/ECT@ECT, Scott
Sefton/HOU/ECT@ECT, Shirley A Hudler/HOU/ECT@ECT, Karen S Owens@ees, Vicki
Sharp/HOU/EES@EES, Ken Karas/EWC/Enron@Enron, Adam Umanoff/EWC/Enron@Enron,
Joe Kishkill/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Randy
Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James A
Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Larry L
Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob
Walls/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sanjay
Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Stabler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick
Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lance
Schuler-Legal/HOU/ECT@ECT, Harold Bertram/HOU/ECT@ECT
cc:

Subject: LRC Joint Venture

Please find the attached memo summarizing a proposed joint venture between
Enron North America and Texaco involving our respective intrastate pipeline
assets in Louisiana (i.e., Enron's LRC pipeline).  The joint venture would
restrict Enron and its affiliates from pursuing certain limited business
opportunities involving specified pipeline assets that may be competitive
with the joint venture.  Specifically, these assets include:

(i) the Acadian Gas Pipeline System (currently ultimately owned by Shell
Petroleum Inc. USA),
(ii) the Cypress Gas Pipeline System (currently ultimately owned by Shell
Petroleum Inc. USA),
(iii) the Louisiana Intrastate Gas System (currently ultimately owned by
American Electric Power Co. Inc.),
(iv) the Louisiana Gas System (currently ultimately owned by Conoco Inc.);
and
(v) the Louisiana gas pipeline assets of Koch Gateway Pipeline Co. (currently
ultimately owned by Koch Industries).

In keeping with Enron's internal policies, we are seeking your confirmation
that you have no objection to the non-compete provisions in this
transaction.  Please feel free to call Lance Schuler, Hal Bertram or me if
you have any questions.

Regards,
Brian


Need a hard copy ... I don't have a password for cera

	Eric Benson
	01/20/2001 10:02 AM

		 To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron
		 cc:
		 Subject: High Speed Regulation in California - CERA Alert

Steve, Rick and Jim -

Below is an article from CERA that summarizes the current situation in
California.

Eric

+++++++++++++++++++++++++++++++++++++++

----- Forwarded by Eric Benson/NA/Enron on 01/20/2001 09:59 AM -----

	webmaster@cera.com
	01/19/2001 05:16 PM

		 To: messages@cera.com
		 cc:
		 Subject: High Speed Regulation in California - CERA Alert

Title: High Speed Regulation in California
URL: http://www20.cera.com/eprofile?u=35&m=2208

A Feverish Pitch
The pace of regulatory and political events in California has taken on the
feverish pitch of the energy market crisis itself. Important decisions
regarding a wide range of market structure issues are being made quickly at
the
California Public Utilities Commission (CPUC) and the state Legislature,
increasing the level of uncertainty most market participants already perceive
in the quickly evolving California market. Sudden changes are being made to
the
market structure, changes that used to require years in California,s complex
regulatory and legislative proceedings.

As rolling blackouts have rippled through urban centers of Northern California
on January 17 and 18, including in portions of downtown San Francisco,
Sacramento, and the Silicon Valley, state officials are scrambling to set up
the appropriate credit mechanisms to ensure the continued delivery of scarce
western energy supplies to California,s two largest utilities. Even at prices
near $800 per megawatt-hour (MWh), the California Department of Water
Resources
(CDWR), attempting to buy power on behalf of Pacific Gas and Electric (PG&E)
and Southern California Edison (SCE), has been unable to secure enough to keep
the lights on. In the mean time, legal actions by some energy suppliers
threaten to tip the utilities into bankruptcy*and are being held at bay only
by
direct intervention of California,s governor.

Below is a summary of the various state actions being pursued concurrently:

*California governor. California Governor Gray Davis continues to attempt to
act on behalf of PG&E and SCE to secure long-term contracts for supply from
merchant generation owners and marketers in California. On the same front, the
governor has been negotiating with generators in an attempt to keep them from
seeking compensation through the courts for energy delivered to the utilities.
Court-ordered reimbursement could prompt bankruptcy.

*Legislature. Bills have been approved to authorize continued power purchases
on behalf of PG&E and SCE by the CDWR, to restructure the independent system
operator,s (ISO) governing board to consist of five members appointed by the
governor, to restrict the ability of the ISO to enter into a broader
interstate
regional transmission organization (RTO) without the explicit approval of
California,s Electricity Oversight Board, and to prohibit the divestiture of
the investor-owned utilities, remaining generating assets until 2006. The
vehicle for pursuing authorization of state bond financing for acquisition of
transmission assets and construction of new generation facilities is still
being developed.

*California Public Utilities Commission. On January 18 the CPUC adopted a
decision prohibiting the sale of SCE,s Mohave Generating Station to AES. This
voids a sale that was announced but not closed. The CPUC also delayed
decisions
regarding SCE,s application to end its rate freeze and the prudency criteria
for utilities entering into long-term supply contracts.

Some of these issues will continue to evolve as they progress along their
respective and sometimes intersecting paths, and some will need to pass
through
multiple review bodies. This rapid and erratic evolution has not helped to
decrease either the financial risk associated with supplying energy to
California,s two largest utilities, or the level of uncertainty in developing
new generation to supply California in the future.

The ISO anticipates that it will call stage 3 emergencies (reserves less than
1.5 percent) for January 19 and will most likely continue to curtail
interruptible customers through the weekend. Western energy supplies are being
strained by recent heavy usage of hydroelectric facilities where water
supplies
are already as much as 25 percent below average, owing to low precipitation
and
continued plant outages near 9,000 MW in California. The gravity of the
financial condition of California,s two largest utilities is exemplified by
the
need for other, more creditworthy intermediaries, including California
municipal utilities, state agencies, and some unregulated energy suppliers, to
act as temporary  guarantors for the acquisition of energy on behalf of PG&E
and SCE.

**end**

Follow above URL for full report.

*********************************************************
Come Shoot the Rapids with us at CERAWeek2001, "Shooting the Rapids:
Strategies and Risks for the Energy Future" in Houston, February 12-16, 2001!
For more information and to register, please visit
http://www20.cera.com/ceraweek/
*********************************************************

E-mail Category: Alert
CERA Knowledge Area(s): Western Energy,

**********************************************************************
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This electronic message and attachments, if any, contain information
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in whole or in part, is strictly prohibited.
Terms of Use: http://www20.cera.com/tos
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Copyright 2000. Cambridge Energy Research Associates


This in an automated e-mail sent out from the Commissioner.COM
web site.  Do not reply to this e-mail, but instead please visit
your league's site at http://football.commissioner.com/enron2000

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

Bill Kasemervisz requests the following transaction:.

  Drop Jerry Rice.
  Add Curtis Conway.

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

To approve this transaction, please go to your web site and
select Transactions, Requests in the Front Office.


Thanks for including me!  I do have customers calling.  Here are my
choices...in any order!  Wed., Feb. 14 Alan Jackson, Sat., Feb. 24 Kenny
Chesney,  Mon., Feb. 26 Brooks & Dunn, or Fri., March 2 Martina McBride and
Lee Ann Womack.  Thanks again.

	From:  Linda Wehring                           01/29/2001 08:22 AM

To: Michael G Stage/ET&S/Enron@ENRON, Bob Burleson/ET&S/Enron@ENRON, Stephen
Herber/ET&S/Enron@ENRON, Penny McCarran/ET&S/Enron@ENRON, India
Torres/ET&S/Enron@Enron, Steve Weller/ET&S/Enron@ENRON, Lindy
Donoho/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Lorraine
Lindberg/ET&S/Enron@ENRON, Michelle Lokay/ET&S/Enron@Enron, Audrey
Robertson/ET&S/Enron@ENRON, Sue Neville/ET&S/Enron@ENRON, Morgan
Gottsponer/ET&S/Enron@ENRON, Lee Ferrell/ET&S/Enron@Enron, Martha
Janousek/ET&S/Enron@ENRON, Kimberly Watson/ET&S/Enron@ENRON, Sean
Bolks/ET&S/Enron@ENRON, Jim Wiltfong/ET&S/Enron@ENRON, Vernon
Mercaldo/ET&S/Enron@ENRON, Pilar Ramirez/ET&S/Enron@ENRON, Craig
Buehler/ET&S/Enron@ENRON
cc:

Subject: Rodeo Houston 2001 Entertainers

Yes, we have receive our rodeo tickets, reminder these tickets are for
customers.

Please let me know which entertainer you would like to see, need to know your
1, 2 & 3 choice, and tickets are limited to 4 tickets only.

Tue., Feb. 13 Clay Walker
Wed., Feb. 14 Alan Jackson
Thur., Feb. 15 Hank Williams, Jr.
Fri., Feb. 16 Diana Ross
Sat., Feb. 17 Alabama
Sun., Feb. 18 Destiny's Child
Mon., Feb. 19 Lyle Lovett and Robert Earl Keen
Tue., Feb. 20 Neal McCoy and Rascal Flatts
Wed., Feb. 21 98 Degrees
Thur., Feb. 22 Lonestar and Brad Paisley
Fri., Feb.23 (Black Heritage Day) Patti LaBelle and Gladys Knight
Sat., Feb. 24 Kenny Chesney and Phil Vassar
Sun., Feb. 25 (Go Tejano Day) Intocable and Control
Mon., Feb. 26 Brooks & Dunn
Tue., Feb. 27 Duran Duran
Wed., Feb. 28 Jo Dee Messina
Thur., March 1 Def Leppard
Fri., March 2 Martina McBride and Lee Ann Womack
Sat., March 3 Barry Manilow
Sun., March 4 LeAnn Rimes and Billy Gilman

Thanks,
Linda


he can go - hoskins already has to buy a ticket - he just will need to buy a
ticket in austin and then come sit with us at our seats

To: Eric Bass/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT
cc:
Subject: UT

Val would like to go if someone needs to back out (it won't be me this time)
or if there are tickets still available.


---------------------- Forwarded by Eric Bass/HOU/ECT on 10/30/2000 09:34 AM
---------------------------

Michael D Ferguson <mfe252@airmail.net> on 10/30/2000 09:09:24 AM
To: <Angelwgsx2@aol.com>, <alaska_turtles@yahoo.com>, <Vettel22@flash.net>,
<Blondi46@aol.com>, <charityp@flash.net>, <ckendal@comp.uark.edu>,
<Cyn05@yahoo.com>, <delena38@home.com>, <deniesed@hotmail.com>,
<Eric.Bass@enron.com>, <marstersco@earthlink.net>, <starlit_gazer@yahoo.com>,
<greenup@airmail.net>, <strait_line@yahoo.com>, <wxranch@airmail.net>,
<jayjayjarv@yahoo.com>, <jsshives14@aol.com>, <vaclavik@airmail.net>,
<jetbug@telepak.net>, <bush56@flash.net>, <teapot2k@yahoo.com>,
<LJ_DIPSY@Yahoo.com>, <who_spunky@yahoo.com>, <lindsaym@earthlink.net>,
<lucretia@airlinedata.com>, <lynnrd@tyler.net>, <maca@glade.net>,
<mblox@flash.net>, <Meg51379@aol.com>, <fyr_chief@hotmail.com>,
<mgriff@glade.net>, <achin2th@aol.com>, <pkjday@yahoo.com>, <racox@ev1.net>,
<turbosbabe96@yahoo.com>, <RAARON2@txu.com>, <ERPickens@aol.com>,
<uspsa@airmail.net>, <kalar@airmail.net>, <sandra_bloxom@hotmail.com>,
<sherrywine2000@yahoo.com>, <spayton@flash.net>, <esjames@earthlink.net>,
<Sunnygirl730@aol.com>, <surfworm@flash.net>, <tgdavis1@airmail.net>,
<timbob@flash.net>, <tlmiller@pflash.com>, <lvthomas@airmail.net>,
<wmjock@mail.com>, <wlgreen@airmail.net>
cc:
Subject: Chili Taster

Notes From An Inexperienced Chili Taster Named FRANK, who was
visiting Texas from the East Coast:

Recently I was honored to be selected as an outstanding Famous
celebrity in Texas, to be a judge at a chili cook-off, because no one
else
wanted to do it. Also the original person called in sick at the last
moment,
and I happened to be standing there at the judge's table asking
directions
to the beer wagon when the call came. I was assured by the other two
judges (Native Texans) that the chili wouldn't be all that spicy, and
besides
they told me I could have free beer during the tasting, so I accepted.

Here are the scorecards from the event:

Chili # 1: Mike's Maniac Mobster Monster Chili

JUDGE ONE: A little too heavy on tomato. Amusing kick.
JUDGE TWO: Nice, smooth tomato flavor. Very mild.
FRANK: Holy cow, what the hell is this stuff? You could remove dried
               paint from your driveway with it. Took me two beers to
put the
               flames out. Hope that's the worst one. These Texans are
crazy.

Chili # 2: Arthur's Afterburner Chili

JUDGE ONE: Smoky, with a hint of pork. Slight Jalapeno tang.
JUDGE TWO: Exciting BBQ flavor, needs more peppers to be taken
                        seriously.
FRANK: Keep this out of reach of children! I'm not sure what I am
               supposed to taste besides pain. I had to wave off two
people
               who wanted to give me the Heimlich maneuver. They had to
               walkie-talkie in 3 extra beers when they saw the look on
my face.

Chili # 3: Fred's Famous Burn Down the Barn Chili

JUDGE ONE: Excellent firehouse chili! Great kick. Needs more beans.
JUDGE TWO: A beanless chili, a bit salty, good use of red peppers.
FRANK: Call the EPA, I've located a uranium spill. My nose feels like I
               have been snorting Drano. Everyone knows the routine by
now.
               Barmaid pounded me on the back; now my backbone is in the

               front part of my chest. I'm getting drunk.

Chili # 4: Bubba's Black Magic

JUDGE ONE: Black bean chili with almost no spice. Disappointing.
JUDGE TWO: Hint of lime in the black beans. Good side dish for fish or
                        other mild foods, not much of a chili.
FRANK: I felt something scraping across my tongue, but was unable to
               taste it. Sally, the bar maid, was standing behind me
with fresh refills;
               that 300 lb. witch is starting to look HOT, just like
this nuclear-waste
               I'm eating.

Chili # 5: Linda's Legal Lip Remover

JUDGE ONE: Meaty, strong chili. Cayenne peppers freshly ground, adding
                       considerable kick. Very impressive.
JUDGE TWO: Chili using shredded beef; could use more tomato. Must admit
                        the cayenne peppers make a strong statement.
FRANK: My ears are ringing, and I can no longer focus my eyes. I farted
               and four people behind me needed paramedics. The
contestant
               seemed offended when I told her that her chili had given
me brain
               damage. Sally saved my tongue from bleeding by pouring
beer directly
               on it from a pitcher. It really pisses me off that the
other judges asked
               me to stop screaming.  Rednecks!

Chili # 6: Vera's Very Vegetarian Variety

JUDGE ONE: Thin yet bold vegetarian variety chili. Good balance of spice

                       and peppers.
JUDGE TWO: The best yet. Aggressive use of peppers, onions, and garlic.
                        Superb.
FRANK: My intestines are now a straight pipe filled with gaseous,
sulfuric
               flames. No one seems inclined to stand behind me except
big Sally.
               I need to sooth my butt with a snow cone!

Chili # 7: Susan's Screaming Sensation Chili

JUDGE ONE: A mediocre chili with too much reliance on canned peppers.
JUDGE TWO: Ho Hum, tastes as if the chef literally threw in a can of
chili
                        peppers at the last moment. I should note that I
am worried
                       about Judge Number 3. He appears to be in a bit
of distress
                       as he is cursing uncontrollably.
FRANK: You could put a grenade in my mouth, pull the pin, and I wouldn't

                feel a damn thing. I've lost the sight in one eye, and
the world sounds
                like it is made of rushing water. My shirt is covered
with chili which
                slid unnoticed out of my mouth. My pants are full of
lava-like stuff to
                match my damn shirt. At least during the autopsy they'll
know what
                killed me. I've decided to stop breathing, it's too
painful. Screw it, I'm
                not getting any oxygen anyway. If I need air, I'll just
suck it in through
                the 4 inch hole in my stomach.

Chili # 8: Helen's Mount Saint Chili

JUDGE ONE: A perfect ending, this is a nice blend chili, safe for all,
not too bold
                       but spicy enough to declare its existence.
JUDGE TWO: This final entry is a good, balanced chili, neither mild nor
hot. Sorry
                        to see that most of it was lost when Judge
Number 3 passed out,
                        fell and pulled the chili pot on top of himself.
Not sure if he's going
                        to make it. Poor Yank.
FRANK: --------------(editor's note: Judge #3 was unable To report)


Carloyn,

Is the promissory note structure still necessary, given the increase in the
HSR threshhold?

ckm

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 02/22/2001 05:59:49 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc: Carlos.Sole@enron.com

Subject: RE: Revised 7EA Turbine Letter Agreement

Kay:

Yes, the 1/11 draft (v4) is the current draft.

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

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Thursday, February 22, 2001 4:10 PM
To: ccampbell@kslaw.com
Cc: Carlos.Sole@enron.com
Subject: Revised 7EA Turbine Letter Agreement

Hi Carolyn,

Is this the most current version?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/22/2001 04:08
PM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 01/11/2001 06:29:24 PM

To:   "'kay.mann@enron.com'" <kay.mann@enron.com>
cc:   "'ben.f.jacoby@enron.com'" <ben.f.jacoby@enron.com>,
      "'fred.mitro@enron.com'" <fred.mitro@enron.com>

Subject:  Revised 7EA Turbine Letter Agreement

 <<2RZ504!.DOC>>  <<2RZ5RED.DOC>>

Kay:

We have enclosed clean and marked copies of a revised draft of the 7EA
turbine letter agreement reflecting revisions from the draft previously
distributed on January 8, 2001.  Please review and advise of any comments.
Thank you.

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

Enclosures:    129569v4
          129569vR4/3

(See attached file: 2RZ504!.DOC)
(See attached file: 2RZ5RED.DOC)

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


I spoke to her over the phone and told her that we were short of the nom and
she told me that a buy back needs to be put into place..  HL&P has paid us
for the full 20,000 on the 27th.   We have a Entex Meeting on the 5th in Room
37C1 @ 11:30, we can all discuss it then if you want to.

Daren J Farmer@ECT
02/01/2001 01:06 PM
To: Paul Couvillon/Corp/Enron@ENRON
cc:

Subject: Re: Deal # 529159 for December 2000

We will need to wait until Janet gets back.  This is a spot deal that was
done by Gary Lamphier.  Did Janet negotiate something with them after the
fact?

D

Paul Couvillon@ENRON
02/01/2001 12:58 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Re: Deal # 529159 for December 2000

Janet Wallis told me so.

Daren J Farmer@ECT
02/01/2001 12:48 PM
To: Paul Couvillon/Corp/Enron@Enron
cc:

Subject: Re: Deal # 529159 for December 2000

Paul,

How are you determining that we should have a buyback for this deal?

D

	Enron North America Corp.

	From:  Gary W Lamphier                           02/01/2001 10:14 AM

To: Daren J Farmer/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT
cc:
Subject: Deal # 529159 for December 2000

Can either of you verify this?
---------------------- Forwarded by Gary W Lamphier/HOU/ECT on 02/01/2001
10:18 AM ---------------------------

Paul Couvillon@ENRON
01/31/2001 02:45 PM
To: Gary W Lamphier/HOU/ECT@ECT
cc: Janet H Wallis/HOU/ECT@ECT, Joanie H Ngo/HOU/ECT@ECT, Mary
Poorman/NA/Enron@Enron
Subject: Deal # 529159 for December 2000

Gary:

For Company 12 could you please put in a buy-back for Reliant Energy HL&P on
Contract # 96022113 for the volume of 1,286 Mmbtu's on 12/27/2000.  The
pipeline and point are HPL/UTTC-HARDY STREET MIDCON (BI-DIRECTIONAL) and the
scheduler is Mary Poorman @ X-35251.

The pricing should be as follows;
The lower of KATY MID day of flow or day after.

The pricing of KATY MID for 10/27 was $ 10.26
                10/28 was $ 9.63.

The sale counter-part to this purchase should go to deal # 529159.


The following expense report is ready for approval:

Employee Name: Richard Sanders
Status last changed by:  Automated Administrator
Expense Report Name: RBS05.21.01
Report Total: $2,812.49
Amount Due Employee: $2,812.49

To approve this expense report, click on the following link for Concur
Expense.
http://xms.enron.com


Stuart:

Attached are the majority of the Haywood docs for your reference in drafting
the amendment to extend may 1.

Thanks,

Ben


Chris,

My part has not changed for some time (since early July).

I sent  the last vintage of corrections  to you when I was in Sydney.
You can send the version you consider final to us just to double check.

I took the liberty of sending our chapter to Darrell Duffie and he liked it.
What is more important he did not find any error.

I shell send you my comments on the article for Robin in a day or so.

Vince

"Chris Strickland" <chris@lacima.co.uk> on 08/28/2000 02:55:31 PM
Please respond to "Chris Strickland" <chris@lacima.co.uk>
To: <vince.j.kaminski@enron.com>, <grant.masson@enron.com>
cc:
Subject: Chapter

Hi Vince,
?
How are things with you? Well I hope. Do you have  the latest version of your
part of chapter 3? (I think GRant has sent thru a  seperate, updated version
to you, which has been typeset). Everything else has  been tied up and we
will go with the version we have, unless we hear  otherwise.
?
Many thanks and best regards.
?
Chris.
?


Brad,  Can you give me a status on where you are at with the review of the
Lease Docs for the MEGS Facilities? I forward those documents about a month
back.

Gerald Nemec
Enron North America Corp. - Legal


FYI

 -----Original Message-----
From: 	Enron Office Of The Chairman
Sent:	Wednesday, January 16, 2002 8:46 AM
To:	DL-GA-all_enron_worldwide1
Subject:	New Stock Symbol

Enron announced today that its common stock will now be traded as an Over-the-Counter (OTC) equity security under the symbol "ENRNQ."  This follows a decision by the New York Stock Exchange (NYSE) to file an application to delist Enron's common stock, which means that Enron's common stock and related securities are suspended from trading on the NYSE.  Enron is considering whether to appeal the NYSE's decision.

The NYSE has standard criteria for listing stocks, which can be found on their website at www.nyse.com.  Enron recently fell below the following listing criteria: average closing price of a security less than $1.00 over a consecutive 30 trading-day period.  Quotation service for Enron's stock will now be provided by the National Quotation Bureau, LLC "Pink Sheets."


---------------------- Forwarded by Rick Buy/HOU/ECT on 11/07/2000 05:32 AM
---------------------------

Rick Buy
11/07/2000 05:37 AM
To: Dave Gorte, Michael Tribolet/Corp/Enron@Enron
cc:
Subject: New Power Company

fyi-comments? rick
---------------------- Forwarded by Rick Buy/HOU/ECT on 11/07/2000 05:30 AM
---------------------------

Molly Harris
11/03/2000 05:57 PM
To: Jimmie Williams/HOU/EES@EES, Mark S Muller/HOU/EES@EES, James E
Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES
cc: William S Bradford/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT
Subject: New Power Company

Credit recommends offering the following two options to the New Power Company
(NPC) as it relates to Firmwide collateral thresholds:

Option #1 - NPC receives a $10MM collateral threshold with standard
collateral annex terms.

Option #2: - NPC receives a $40MM collateral threshold with standard annex
terms as well as the following two additional required covenants:

a) Liquidity - Maintain minimum liquidity of $300MM, where:
 Liquidity = cash + marketable securities - debt - LCs - third party
guarantees

b) Tangible Net Worth - Maintain minimum tangible net worth, as defined by
GAAP, of $450MM
 Note: TNW will be equal to equity less intangible assets including but not
limited to goodwill, trademarks, etc.

Regards,
Molly


Jeff,

Judy Lay Allen, an associate of yours on the Federal Reserve board, spoke
with Joannie Williamson today regarding my desire to interview at Enron.

I am a graduate of Princeton University with two years experience in
financial modeling and communications.   Towards assessing my skill set
relative to peers, I took and received a 740 on my GMAT.  I have also
interned in a gas exploration company and am familiar with the industry;
likewise, I have worked with clients in telecommunications and am aware of
the work Enron is doing in the bandwidth trading/pooling field.

I am aware of Enron's executive training/business analyst programs and am
highly interested in exploring opportunities therein.  I am in Houston
through Friday evening and, given the short notice, would be grateful for any
opportunity to meet with the appropriate person any time Thursday or Friday.

I look forward to interviewing and applying my experience at Enron.

Best regards,
Michael Kuntz
917-838-6364

 - Resume (MK) 5-1-01.doc


Connection-specific DNS Suffix  . : corp.enron.com
 IP Address. . . . . . . . . . . . : 172.28.228.37
 Subnet Mask . . . . . . . . . . . : 255.255.254.0
 Default Gateway . . . . . . . . . : 172.28.228.1


Alvin:

It was good to meet you at lunch the other day.  Here are my address details
if you need them.

Mark E. Taylor
Enron North America Corp. (EB3889)
1400 Smith St.
Houston, TX 77002

(713)853-7459

Mark.Taylor@enron.com


Helen-

Since we last emailed, something has come up on Sunday afternoon.  Would it
be possible to do the lesson earlier, like 11 am or noon?  Or, Kali has
Monday the 19th off and could do a lesson anytime that day.

Thanks,

Susan Pereira

Hermannpk@aol.com on 02/14/2001 02:53:55 PM
To: Susan.W.Pereira@enron.com
cc:
Subject: Re: Sunday lesson

Sounds good. Kali at 3PM.

Helen Peters