Funny, but it won't get picked up by Jay Leno ....

-----Original Message-----
From: Robert Weisenmiller [mailto:rbw@mrwassoc.com]
Sent: Thursday, January 03, 2002 4:16 PM
To: Comnes, Alan
Subject: Fwd: Enron Accounting Texas Style

<x-flowed>

 >Delivered-To: mrwassoc@barney.sfrn.dnai.com
 >From: "Bill Marcus" <bill@jbsenergy.com>
 >To: "Alan Gering \(E-mail\)" <bradley@jps.net>,
 >    "Barry Bergman \(E-mail\)" <blbergman@rhphillips.com>,
 >    "Bob Finkelstein \(E-mail\)" <bfinkelstein@turn.org>,
 >    "Bob Kinosian \(E-mail\)" <gig@cpuc.ca.gov>,
 >    "Bob Weisenmiller \(E-mail\)" <rbw@mrwassoc.com>,
 >    "Cynthia Mitchell \(E-mail\)" <ckmitchell@powernet.net>,
 >    "David Argue \(E-mail\)" <david.argue@sympatico.ca>,
 >    "Don Fields \(E-mail 2\)" <flak2@aol.com>,
 >    "Eric Witkoski \(E-mail\)" <epwitkos@ag.state.nv.us>,
 >    "Eric Woychik \(E-mail\)" <estrategy@mindspring.com>,
 >    "Fred Schmidt \(E-mail\)" <fschmidt@halelane.com>,
 >    "JA Savage \(E-mail\)" <honest@compuserve.com>,
 >    "Jack Pous \(E-mail\)" <lduci@earthlink.net>,
 >    "Jan McFarland \(E-mail\)" <jmcfarland@worldnet.att.net>,
 >    "Jim Lazar \(E-mail\)" <jimlaz@callatg.com>,
 >    "Jim Scarff \(E-mail\)" <jes@cpuc.ca.gov>,
 >    "John Williams \(E-mail\)" <JWilliams@Genesis.Law.Pace.Edu>,
 >    "Lenny Goldberg \(E-mail\)" <lga@mother.com>,
 >    "Matt Brady \(E-mail\)" <bradylaw@pacbell.net>,
 >    "Mick Davies \(E-mail\)" <mick-d@telusplanet.com>,
 >    "Mike Florio \(E-mail\)" <mflorio@turn.org>,
 >    "Kirk Sisson \(E-mail\)" <kirk@swslawyers.com>,
 >    "Rachel and Barry \(E-mail\)" <orlins_bergman@msn.com>,
 >    "Sara Myers \(E-mail\)" <ssmyers@worldnet.att.net>,
 >    "Shawn McMurray \(E-mail\)" <ShawnM@ag.state.ar.us>,
 >    "Tom and Margie Bowman \(E-mail\)" <bowmani@mymailstation.com>,
 >    "Theresa Mueller \(E-mail\)" <theresa_mueller@ci.sf.ca.us>,
 >    "V. John White \(E-mail\)" <vjw@cleanpower.org>,
 >    "Tom Greene \(E-mail\)" <greenet@hdcdojnet.state.ca.us>,
 >    "Steve Ostrover \(E-mail\)" <sostrover@econone.com>,
 >    "Robert McCullough \(E-mail\)" <robert@mresearch.com>
 >Cc: "Energy Advocate List \(E-mail\)" <eadvocate-l@igc.topica.com>
 >Subject: Enron Accounting Texas Style
 >Date: Thu, 3 Jan 2002 15:28:43 -0800
 >X-Mailer: Microsoft Outlook CWS, Build 9.0.2416 (9.0.2911.0)
 >Importance: Normal
 >X-Envelope-To: <rbw@mrwassoc.com>
 >X-MDRemoteIP: 208.59.199.22
 >X-MDRcpt-To: rbw@mrwassoc.com
 >X-MDaemon-Deliver-To: rbw@mrwassoc.com
 >
 >(Courtesy of Public Utilities Fortnightly, quoting an anonymous e-mail)
 >
 >You have two cows.  You sell three of them to your publicly listed company
 >using letters of credit opened by your brother-in-law at the bank.
 >
 >Then you execute a debt-equity swap with an associated general offer, so you
 >get all four cows back, with a tax-exemption on the fifth cow, of course.
 >
 >The estimated future value of the milk cash flow stream rights of the six
 >cows are monetized and transferred via an intermediary to the Cayman
 >Islands, secretly owned by a majority shareholder who sells the rights to
 >all seven cows back to your listed company, off-balance-sheet, of course.
 >
 >The annual report says the company owns eight cows and recognizes milk
 >revenue for its 20-year life of the cow.
 >
 >This is hedged with a derivative cow life insurance policy through a Cayman
 >Island bank and these hedges are done through EnronOnline's commodity
 >storefront with a option to buy one more cow, no balance sheet provided ...
 >
 >The company says it will file all footnotes to its financial statement at a
 >later date ...

</x-flowed>


thanks- now i  just have to convince jeff-- rick


Jeff,

I am a YPOer in the Rebel Chapter who was given your name from an IOS source
as someone who could potentially help in this situation. As background, I
sent this IOS request out last week:

Description of Situation
My highway construction company has been negatively impacted by price
volatility in energy prices (fuel, natural gas, and asphalt cement). We
offer long term, fixed price contracts to our clients yet must purchase our
petroleum and energy-related products at spot market prices. Thus we are
exposed to significant price adjustment risks.

Type of Feedback Requested:
Does anyone have experience using commodity contracts as an arbitrage
strategy to offset the risks of potential price volatility in the energy
sector? If so, do you have specific recommendations for how we should
proceed?

Thank you for any information you can offer.

As I have investigated this further, I find no one in this industry (highway
construction) who is purchasing futures to mitigate their energy cost
exposure. I have spoken with folks who are doing this in the building supply
sector with lumber futures.

Do you have any thoughts or suggestions in this matter? Any input would be
greatly appreciated.

Many thanks,

Michael Mangum
Rebel Chapter

President/CEO
The Mangum Group, Inc.
PO Box 31768
Raleigh, NC 27622-1768

919.571.7605 Phone
919.510.6740 Fax
919.868.8179 Mobile
919.845.3497 Home


Dear Mr. Lin:

Enclosed for your review is a draft of a Master Agreement with Enron North
America Corp.  Please do not hesitate to give me a call with any questions
and or comments you may have regarding this matter.

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


Dear E-Savers Subscriber,

US Airways is pleased to announce a special Bermuda and Grand Cayman E-Savers offer.

You may depart on Sundays to Wednesdays, between January 6 and January 23, 2002.  Return travel is Tuesdays to Fridays, between January 15 and February 1, 2002.  Saturday night stay is required.  Tickets must be purchased by January 3, 2002.

PURCHASE E-SAVERS ONLINE AT http://www.usairways.com/esavers/offer_bdagcm.htm AND RECEIVE A $10 DISCOUNT OFF OF THE FARES LISTED BELOW.  THE $10 DISCOUNT DOES NOT APPLY WHEN BOOKING BY TELEPHONE THROUGH US AIRWAYS' RESERVATIONS DEPARTMENT.

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********************************************************************

FROM:                     TO:                       ROUNDTRIP FARE:
-------------------------------------------------------------------
Baltimore, MD             Bermuda                   $270

Charlotte, NC             Bermuda                   $270
Charlotte, NC             Grand Cayman, Cayman Is.  $270

Philadelphia, PA          Bermuda                   $270
Philadelphia, PA          Grand Cayman, Cayman Is.  $270

Pittsburgh, PA            Bermuda                   $270

Fares shown are based on roundtrip Coach travel on US Airways/US Airways Express, during the period specified above. Depending upon your travel needs, alternative routings may be available at the same fares, with part of the service on regional aircraft operated by US Airways Express carriers Allegheny, Air Midwest, CCAIR, Chautauqua, Colgan, Mesa, Piedmont, PSA, Shuttle America or Trans States.

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To earn even more miles, book E-Savers using your US Airways Dividend Miles Visa card. To apply for the Dividend Miles Visa card issued by Bank of America, please visit us at http://www.usairways.com/dmcreditcards

Please note:  Online booking mileage bonus does not apply to E-Savers.  E-Savers are not valid for upgrades.  Upgrades are only valid with the purchase of a published adult fare, which excludes all E-Savers and certain promotional and sale fares.

********************************************************************

                        US AIRWAYS VACATIONS

US Airways Vacations is pleased to offer Grand Cayman and Bermuda land packages to provide a complete vacation experience. Vacations include hotel accommodations for up to 21 nights; roundtrip airport/hotel transfers; hotel taxes and service charges.  A variety of optional features including attraction admissions and sightseeing tours are available.

EXPERIENCE GRAND CAYMAN AND BERMUDA!!!
--------------------------------------
Three nights hotel from:

GRAND CAYMAN
$246  Cayman Inn & Resort
$286  Treasure Island Resort
$384  Sunshine Suites - Studio Suite

BERMUDA
$261  The Fairmont Hamilton Princess
$310  Elbow Beach Bermuda
$492  Grotto Bay Beach Resort & Tennis Club - All-Inclusive

Purchase these land packages online at http://www.usairwaysvacations.com/pricing_res.htm  Simply enter your origin and destination cities, departure date, number of adults, children's ages and click "Search For Vacation."  Choose "Hotel and Car Vacations for 1-59 nights," confirm your departure date and indicate the number of nights for your vacation. Click "Check Availability" and continue with your choices for hotels and options as the system presents them until you reach the final price. You may then purchase your vacation with a secure credit card transaction. If you prefer to speak with a reservations agent, call 1-800-352-8747.

Rates shown are per person based on double occupancy for travel 1/1/02 through 2/1/02. Hotel space is limited and may not be available at all hotels on all days.  Additional travel dates, hotels and rates are available.  Prices are subject to change with or without notice and do not include miscellaneous hotel charges typically paid by the customer directly to the hotel.  Substantial restrictions apply for refunds.  Other conditions may apply.  US Airways' online booking discount is not available on vacation packages.

********************************************************************

E-SAVERS FARE REQUIREMENTS: Roundtrip purchase required.  One-way travel, stopovers, wait-listing, standbys are not permitted.  Travel must begin and end in the same city.  Tickets become nonrefundable 24 hours after making an initial reservation, however, changes may be made for a minimum $100 fee, provided changes are within the allowable days of travel and seats are available.  Tickets must be purchased at the time of reservation and made in advance of travel.  Saturday night stay required.  Fares do not include up to $18 airport passenger facility charges, where applicable.
Fares are valid to Bermuda and Grand Cayman 1/6-1/23/02, Sunday-Wednesday, and from Bermuda and Grand Cayman 1/15-2/1/02, Tuesday-Friday.  All travel must be completed by 2/1/02.  Tickets must be purchased by 1/3/02.  Seats are limited and are not available on all flights/days.  Fares cannot be combined with other fares, discounts, promotions or coupons.  Fares will not be honored retroactively or in conjunction with the exchange of any partially used ticket.  Lower fares may be available in these markets.  E-Savers are not valid for upgrades.  Other restrictions may apply.  Fares shown do not include total government-imposed taxes/fees/surcharges of up to $100.

This is a post-only mailing sent to kholst@ENRON.COM.  Please do not respond to this message. To change preferences or un-subscribe from this list, please visit the E-Savers page at:

http://www.usairways.com/esavers/enroll.htm

Copyright US Airways 2001.  All rights reserved.


-----Original Message-----
From: 	gregwhalley <8777865122@skytel.com>@ENRON
Sent:	Thursday, January 10, 2002 1:00 PM
To:	Kitchen, Louise
Subject:	Re: Solarc

Didn't get a commitment. Just told them I thought it would be impossible.

Original Message:
Louise.Kitchen@enron.com|Re: Solarc|Did you get tg back to 1yr docs
--------------------------
Sent from my BlackBerry Wireless Handheld

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


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As you requested...

	Fred Philipson/ENRON@enronXgate
	01/31/2001 03:05 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: NDA

Hi Tana,

This email is in response to my earlier voice mail regarding two NDAs to be
sent out today.  Here's what I think may be the pertinent information:

Continental Airlines - Cargo
1600 Smith Street
Houston, TX 77002
United States
Attn:  Mr. Ed O'Meara

Eagle Global Logistics
15350 Vickery Dr
Houston, TX 77032
Attn:  Mr. Stephen J. Carattini

Content might say something about not mentioning any details about talking to
Enron about air cargo commoditization with any other company or to the press,
etc. until we give them express written permission.

I'm sure I forgot something relevant.  Just give me a call at 5-9323.


continental.com Specials for Kevin Ruscitti
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TABLE OF CONTENTS
1. This Week's Destinations
2. Continental Vacations Offers
3. Hilton Hotels & Resorts, Doubletree Hotels & Resorts, & Embassy Suites Hotels Offers
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6. National Car Rental Offers

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$109 - Alexandria, LA
$109 - McAllen/Rio Grande Valley, TX
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$119 - Tulsa, OK

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********************************
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--------------------------------------
Cleveland, OH - Hilton Garden Inn Cleveland Airport - $59
Cleveland, OH - Hilton Cleveland East/Beachwood, Beachwood, OH. - $109

Houston, TX - Hilton Houston Westchase and Towers - $65
Houston, TX - Hilton Houston Hobby Airport - $109
Houston, TX - Hilton Houston Southwest - $109

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Newark, NJ & New York, NY - Doubletree Hotel & Executive Meeting Center Somerset Somerset, NJ. - $135

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Raleigh/Durham, NC - Hilton Durham - $99

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San Francisco, CA - Hilton Garden Inn Mountain View, Mountain View, CA. - $219
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--------------------------------------
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New Jersey - East Rutherford - Sheraton Meadowlands Hotel and Conference Center - $99.00
New Jersey - Elizabeth - Four Points by Sheraton Newark Airport - $77.00
New Jersey - Iselin - Sheraton at Woodbridge Place Hotel - $71.00
New Jersey - Parsippany - Sheraton Parsippany Hotel - $70.00
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New Jersey - Weehawken - Sheraton Suites on the Hudson - $109.00

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New York - New York - Essex House - A Westin Hotel - $228.00

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Ohio - Cuyahoga Falls - Sheraton Suites Akron/Cuyahoga Falls - $99.00

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Texas - Houston - Sheraton Houston Brookhollow Hotel - $45.00
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-------------------------------
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6. CONTINENTAL.COM SPECIALS FROM NATIONAL CAR RENTAL

Rates listed below are valid on intermediate class vehicles at airport locations only. Other car types may be available. Rates are valid for rentals on Saturday, November 17 with returns Monday, November 19 or Tuesday, November 20, 2001.
------------------------------------------
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$23 a day in:  Cleveland, OH (CLE)
$21 a day in:  Houston, TX (IAH)
$29 a day in:  McAllen/Rio Grande Valley, TX (MFE)
$26 a day in:  Mobile, AL (MOB)
$21 a day in:  Tulsa, OK (TUL)

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****************************************
CONTINENTAL.COM SPECIALS RULES:
Fares include a $37.20 fuel surcharge.  Passenger Facility Charges, up to $18 depending on routing, are not included. Up to $2.75 per segment federal excise tax, as applicable, is not included.  Applicable International and or Canadian taxes and fees up to $108, varying by destination, are not included and may vary slightly depending on currency exchange rate at the time of purchase. For a complete listing of rules please visit:
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ALAMO RENT A CAR'S TERMS AND CONDITIONS:
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NATIONAL CAR RENTAL TERMS AND CONDITIONS:
Customer must provide Contract ID# at the time of reservation to be eligible for discounts. Offer valid at participating National locations in the US and Canada. Minimum rental age is 25. This offer is not valid with any other special discount or promotion. Standard rental qualifications apply. Subject to availability and blackout dates. Advance reservations required. Geographic driving restrictions may apply.

TERMS AND CONDITIONS FOR WESTIN, SHERATON, FOUR POINTS,
ST. REGIS, THE LUXURY COLLECTION, AND W HOTELS:
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Send to your favorite counterparty.

Enron Receives Dynegy $1.5B Cash Infusion Tues. >DYN ENE
By Christina Cheddar

11/14/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- Dynegy Inc. (DYN) provided Enron Corp. (ENE) Tuesday with the $1.5 billion cash infusion envisioned in the companies' merger agreement, a Dynegy spokeswoman said.

Dynegy received preferred stock and other rights in an Enron unit that owns the Northern Natural Gas pipeline in return for its investment.

The cash infusion, which was made with the assistance of Dynegy's largest shareholder, ChevronTexaco Corp. (CVX), is aimed at providing Enron with additional cash liquidity to support its core energy marketing and trading operations.

The rights provide Dynegy with the option to acquire the pipeline unit should the two companies fail to complete their merger. The deal, which still needs shareholder and regulatory approval, is expected to close within the next six to nine months.

Dynegy is acquiring Enron for 0.2685 of a Dynegy share, or about $10 billion based on the recent price of Dynegy shares.

The acquisition of Enron by its smaller rival follows a series of disclosures about Enron's financial dealings with partnerships run by some of its corporate officers. The dealings are under investigation by the Securities and Exchange Commission and at the center of more than a dozen of shareholder lawsuits.

During the last month, Enron watched as its share price sunk to a small fraction of its earlier levels as shareholder confidence in the trading company evaporated. As credit-rating agencies began to cut Enron's debt ratings threatening the company's investment-grade status, the company scrambled to raise additional cash to shore up its balance sheet and protect confidence in its business.

Industry experts viewed Dynegy's cash infusion as one way the companies sought to bolster confidence in the energy trader's liquidity, and protect its most valuable business.

In a conference call earlier Wednesday, Enron said its core energy trading business has been temporarily hurt by the uncertainty created by recent events.

According to Dynegy spokeswoman Jennifer Rosser, the preferred stock Dynegy has received for its investment in Enron is convertible into the common stock of the Enron pipeline unit.

Dynegy also has the right to convert the preferred stock into Enron shares if it desires, the spokeswoman said.

For example, if Enron were to cancel its merger with Dynegy in order to accept a higher bid from another suitor, Dynegy might decide to convert its preferred shares into Enron stock in order to reap the profits created by an increase in Enron's stock price, Rosser said.

In either case, Dynegy wouldn't be required to pay any additional consideration.

Dynegy was able to make the cash infusion after ChevronTexaco, of San Francisco, made an investment in Dynegy.

If the acquisition closes as anticipated, ChevronTexaco, which owns about one-fourth of Dynegy, plans to make an additional $1 billion investment in the combined company. ChevronTexaco also has the right to purchase an additional $1.5 billion in Dynegy stock in the first three years following the close of the acquisition.

Enron officials said they are monitoring the energy market's reaction to the cash infusion, and hopes it will restore the confidence of its counterparties.

Enron remains on a credit watch at the credit-rating agencies. Moody's Investors Service and Standard & Poor's each have Enron rated one notch above speculative grade.

-By Christina Cheddar, Dow Jones Newswires; 201-938-5166; christina.cheddar@dowjones.com

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


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I think this letter looks fine.  For the hororarium, I suggest we use
whatever we paid Kudlow for his participation (I believe Ken also entered
into a consulting contract with Kudlow, but I'm referring only to the
one-time payment for the advisory council meeting he attended).
---------------------- Forwarded by Steven J Kean/NA/Enron on 07/06/2001
07:03 AM ---------------------------

Stelzer@aol.com on 07/05/2001 08:58:38 PM
To: klay@enron.com, rosalee.fleming@enron.com, skean@enron.com
cc:

Subject: Draft letter to Paul Joskow for Ken Lay

I INFORMALLY SOUNDED PAUL OUT, AND HE EXPRESSED AN INTEREST IF THE DATES WORK.
Possible letter to Paul Joskow from Ken Lay
Dear Paul:
    As you may have heard, Enron has an advisory committee consisting of
leaders in the academic and business communities (list attached). This
committee meets twice each year, along with invited speakers on subjects of
interest to Enron. Top executives of our company do their best to attend.
    Starting on the afternoon of October 30, and concluding late in the day
on October 31, we will be meeting in London. I was most impressed with your
presentation at the Aspen Institute energy forum, and am hoping that you
might consider joining our meeting to discuss "Where do we go from here: how
to preserve the momentum of deregulation after California."
    We would be delighted to cover business class travel costs and all other
expenses incident to your trip to London, including hotel costs should you
choose to extend your stay for several days. In addition, there would be an
honorarium of $XXXXXX.
    Do try to join us: you will find the other speakers interesting, and
London a delightful place in which to spend a bit of time. And we would
benefit enormously from your participation.
                                                      Sincerely,


Michelle,
Please let me know what your changes will be to the memo and if you would like to meet to discuss the reports.

Thanks!

Regards,
Sandra

-----Original Message-----
From: Johnson, Rick
Sent: Tue 8/21/2001 8:31 AM
To: Lighthill, Sandra; Hope, Valeria A.
Cc: Cash, Michelle
Subject: Qtrly EEO/AAP notice

Attached is a 2 nd draft of the qtrly letter reflecting more of my changes,  The redline will be hand-delivered.  Regards, Rj.

I'm not certain that the first rev. was sent by the laptop remote mail system when I last logged on,  This is the most recent version. Regards, Rj.

<<AAP memo for qtrly repts-(rev2-rj).doc>>


Gerald:  Thanks for the info.  Very interesting.  Sounds to me like
Wildhorse won't be acknowledging "unprofitability" any time soon.  That
would reduce the amount of gas committed to the contract, and even if it
doesn't actually want to transport that gas at the contract price, Wildhorse
will have even less desire to admit in advance of a sale that its committed
reserves have been declining drastically.  Your letter will, however, throw
an interesting new element into the Tom Brown/Kinder Morgan discussions.
Wouldn't it be fun to see how these "partners" go about handling formulation
of a response?

Craig

  -----Original Message-----
  From: Gerald Nemec [mailto:Gerald.Nemec@enron.com]
  Sent: Wednesday, August 02, 2000 1:20 PM
  To: ccarver@alfers-carver.com
  Subject: Re: Summary of Tom Brown Meeting

  Craig,  FYI.  Some internal discussions.

  ----- Forwarded by Gerald Nemec/HOU/ECT on 08/02/2000 02:19
PM -----
  |--------+------------------------>
  |        |          Gerald Nemec  |
  |        |                        |
  |        |          08/02/2000    |
  |        |          02:07 PM      |
  |        |                        |
  |--------+------------------------>

>---------------------------------------------------------------------------
-|
    |
|
    |      To:     Dan J Bump/DEN/ECT@ENRON
|
    |      cc:     Scott Josey/Corp/Enron@ENRON, Brian
Redmond/HOU/ECT@ECT, Joan |
    |      Quick/HOU/ECT@ECT, Barbara Gray, Teresa G
Bushman/HOU/ECT@ECT         |
    |      Subject:     Re: Summary of Tom Brown
Meeting(Document link: Gerald   |
    |      Nemec)
|

>---------------------------------------------------------------------------
-|

  Confidential Work Product - Attorney Client Privilege

  Dan,  Our letter was definitely structured to encourage a
quick solution.  As
  the situation stands now, Wildhorse's possible responses to
the letter are as
  follows:

  1.  Declare Unprofitability wrt to the gas covered by the
amendment.
       If they do so, then they have the obligation to provide
alternatives to
  Crescendo, one of which is release of the gas.  You are
right, there is no time
  frame in the contract under which they must resolve these
alternatives.  That is
  a risk I pointed out early.  However, in our letter to
Wildhorse, I proposed a
  time frame to resolve these issue of 2 weeks.  If Wildhorse
is not working with
  us in good faith within a commercially reasonable time then
we will have to make
  a choice:
            A.  Go for a Declaratory Judgment to have the gas
released from the
  contract.  This will take time.  Depending on court docket
loads, 6 months
  to 1 year.

            B.  Inform Wildhorse that we have been unable to
reach an agreement
  within a commercially reasonable time and they have not
negotiated in
  good faith and we consider the gas released (contract
breached by Wildhorse) and
  that we will build our own system.  Then Crescendo would
build its own
  system and risk a suit by Wildhorse.

  2.  Not declare Unprofitability
       If Wildhorse does not declare unprofitability, then
they have the
  obligation under the contract to take the gas in accordance
with its terms.  The
  only complication is that under the contract, Wildhorse's
obligation to take the
  gas is subject to the downstream carriers ability to receive
the aggregate gas
  stream.  Depending on Wildhorse's flow dynamics and our
plant placement,
  Wildhorse could use this as reason to refuse delivery of our
gas.  After your
  field meeting and our engineering assessment, hopefully we
will have a better
  understanding of that situation.  If Wildhorse does not
declare unprofitability,
  we would demand evidence and assurances that they will be
able to take the gas
  upon start up of the treating plant.

  If Wildhorse does not declare unprofitability, but continues
to discuss
  renegotiating of this deal, I would very directly ask them
"under what provision
  of the contract do they believe they have the right to
renegotiate any fees?".
  They don't have a right to renegotiate under the contract
without
  unprofitability.

  |--------+----------------------->
  |        |          Dan J        |
  |        |          Bump@ENRON   |
  |        |                       |
  |        |          08/01/2000   |
  |        |          05:23 PM     |
  |        |                       |
  |--------+----------------------->

>---------------------------------------------------------------------------
-|
    |
|
    |       To:     Gerald Nemec/HOU/ECT@ECT
|
    |       cc:     Scott Josey/Corp/Enron@ENRON, Brian
Redmond/HOU/ECT@ECT, Joan|
    |       Quick/HOU/ECT@ECT
|
    |       Subject:     Summary of Tom Brown Meeting
|

>---------------------------------------------------------------------------
-|

  I wanted to provide a summary of my meeting with Tom Brown
today.  I met with
  the Business Development Director, Bob Mustard.

  1)  Tom Brown (as 45% owner of Wildhorse) is pushing Kinder
Morgan to come up
  with solutions to the production problems (quality,
pressure, et al) currently
  being experienced in the Piceance Basin.

  2)  Tom Brown is also encouraging KMI to develop plans to
take Crescendo (and
  other producers) low Btu gas; they see these as a new
business opportunity for
  Wildhorse.

  3)  Tom Brown is focusing their drilling efforts in other
regions of the
  Rockies, therefore TBI would be interested in discussing
Entrada development
  ventures with Crescendo.  Bob worked at Amoco with Ken Krisa
and is very
  familiar with the nitrogen treating technology.  (I passed
all this info on to
  Ken/Jim).

  4)  Here's the interesting part...Bob discussed
(confidentially) that for the
  past 6-8 monthsTom Brown has been trying to negotiate a
buy-out of Kinder
  Morgan's interest in Wildhorse (they have a right-to-match
provision in their
  LLC agreement).  The snag is on the last increment of
valuation which is now
  being negotiated by the very top mgmt (Kinder & Evans).  If
they are successful,
  (which he thinks TBI will be), then TBI will turn-around and
look to spin off
  the non-strategic systems (like the Piceance Basin assets)
to third party
  purchasers.

  This conversation with Tom Brown led me to a worst case
scenario with regard to
  our negotiations with Wildhorse..............Wildhorse has
been slow-playing
  negotiations since I first met with them in late May and #4
above may be the
  reason why.  Now that we've sent the letter recently to
Wildhorse requesting
  (essentially) to clarify their understanding / status of the
contracts so we can
  get to work, my feeling (based on the transaction between
KMI & TBI) is that
  Wildhorse may try to continue stalling until their
transaction with TBI is
  complete, (how much longer will this take?).  Of course, if
the transaction is
  completed, TBI has already made it clear they would like to
sell this system, so
  even if ENA is interested, will TBI negotiate a gathering
deal during this
  transition period or delay until the system is divested?

  The point is this......I'm anticipating a generic,
non-commital response to
  Crescendo's letter from Wildhorse.  Although I realize there
are no time
  deadlines in the contract, could you suggest anything we can
submit in writing
  to encourage a quick resolution to our contractual issues in
the event my above
  worst case scenario begins to play itself out?

  I'm off to Grand Junction to meet with Wildhorse.  I'll keep
you informed of any
  developments.

  Thanks.

  Dan


-----Original Message-----
From: 	Khanna, Sanjeev
Sent:	Monday, October 01, 2001 11:40 AM
To:	Driscoll, Michael M.; Swerzbin, Mike
Cc:	Belden, Tim
Subject:	Daily Power Call

Mike:

This structure is from Caslebridge, who are independent consultants and work with various clients to hedge their exposure. They have not told me who the client is (it is not PacifiCorp)..I think we can make a good guess.

At this time, all we would like to know is that we would consider and price such a structure. If yes, then we would like to give them an indicative no. by Wed morning.

At this time the factors 1,000 and 10 are arbitrary.

Please let me know.

Thanks,

Sanjeev

Hydro Contingent Power Call Option: example

Term:  2 years

Notional Per day (MWH) = [  MIN ( 850MW * 16 hrs,  MAX (1000 - 10 * Daily Flow (KCFS),0)

The Notional per day payoff may have time varying (monthly) strike and multiplier ( here 1000 and 10)

Financial Power Option per day :  Notional per day (MWH) * MAX ( MIDC Power Price - Call strike, 0)
Call strike will be out of the money varying by month. They are also interested in zero strike products if available.

Quarterly Payoffs: Sum of the daily payoffs over the quarterly period.

Flow Index: Reported KCFS flow from Grand Coolee
Power Price Index: standard published day ahead prices for MIDC.

Sanjeev K Khanna				Email: 	Sanjeev.Khanna@enron.com
Director						Tel: 	(713) 853-3849
Enron Global Markets				Cell: 	(713) 594-1832
1400 Smith Street, Suite 3004F			Pager: 	(877) 497-1217
Houston TX 77002					Fax: 	(713) 646-3220

_


---------------------- Forwarded by Kay Mann/Corp/Enron on 04/04/2001 04:58
PM ---------------------------

John Moore
04/04/2001 04:30 PM
To: RSmith@brownsville-pub.com, jdavidson@davidsontroilo.com,
jbruciak@brownsville-pub.com, jlocke@brownsville-pub.com
cc: Mitch Robinson/Corp/Enron@Enron, Kay Mann/Corp/Enron@Enron, Drew
Tingleaf/Enron@EnronXGate

Subject: Letter of Intent

Gentlemen,

I have received a fax confirmation of Mr. Bruciak's execution of the
Confidentiality Agreement this afternoon.  Thank you.

Attached is a draft Letter of Intent ("LOI") pertaining to our discussions
about the feasibility and development of an approximate 500 MW power station
sited at or near the Port of Brownsville.  The LOI is structured similarly to
the existing Participation Agreement, wherein BPUB and ENA exclusively
collaborate to investigate the feasibility of the power station and secure a
suitable site, if justified.  It is proposed that ENA cover the costs of the
development effort, including permitting and site acquisition, with such
costs being eventually treated as either Project construction costs or
operating costs, depending upon the nature of the expense.  I have also
proposed that ENA pay BPUP a $10,000 Consulting Fee to cover any outside
expenses associated with the drafting and execution of this agreement and the
site option agreement(s).  The proposed term of the LOI expires 31 December
2001, unless either of us determines earlier that the joint effort will not
be successful.  During the term of the LOI, it is proposed that BPUB and ENA
will determine and agree upon an appropriate Project equity participation and
finance structure.

Something we may want to consider is the transfer of BPUB's equity in the
Oklaunion plant in exchange for equity in the new Cameron County plant.  This
would be especially appealing if BPUB's interest in Oklaunion also included
switching rights through the nearby DC Tie and if there are additional
Oklaunion interests available with DC Tie switching rights.

Please let know a convenient time when we talk through the proposed LOI and
address any of your questions.

JMoore


RICK:

    Thanks for your note and staying in touch during a time when a
huminatarian crises could easily spiral into something  where the worste
news is yet to come.   Here is what Ive found out...

    NYMEX has contingencies (which they are yet to exercise) for back-up
clearing, as well as a back-up site for open outcry trading.  In the past,
the first contingency has been exercised several times and is proven, though
the later has never been tested in practice.  Meanwhile, clearinghouse
payments have been delayed as a result of the NYMEX closing and the exchange
is likely to remain closed through the balance of the week (thus eliminating
the need for daily payments).  During this time the exchange is closed, an
effort is to be made to trigger one or both of the contingencies above
(based on yet to be clarified damage assessments).  The fact that some
degree of transaction data integrity exists suggests that long-term payment
performance from NYMEX is not likely to be a problem.  However, if clearing
payment delays extend past the end of the month when swaps settle, then we
may see delayed payments from weaker credits in related swap and physical
markets.  In this regard, the markets have breathing room since the
terrorist attacks didnt occur late in the month.  Finally, there have been
general comments from Treasury and Fed Bank officials to guarantee stock
exchange payments, and the assumption is that the same guarantees would
apply to the NY commodity exchanges (but this asumption has not been
validated or addressed directly in public comments).  Hope this helps.
Brad.

-----Original Message-----
From: Buy, Rick [mailto:Rick.Buy@ENRON.com]
Sent: woensdag 12 september 2001 17:52
To: Brad.Horn@nuon.com
Subject: RE: Systemic Market Risk to Follow NYMEX Failure

Was out of town but back now. I asked my group to look at your note and
apprise me. Will let you know when they do. Tx Rick

-----Original Message-----
From: Brad.Horn@nuon.com [mailto:Brad.Horn@nuon.com]
Sent: Tuesday, September 11, 2001 11:30 AM
To: rbuy@enron.com
Subject: FW: Systemic Market Risk to Follow NYMEX Failure

Rick:
        In light of recent events at the world trade center, Im concerned
about the poitential for a systemic failure following the destruction of
NYMEX. A quick note from you to confirm or deny would be appreciated.

        For example, if NYMEX payments are delayed significantly, Im worried
that a larger payment failure in the energy derivatives market might follow.
In this scenario, Enron?s large NYMEX position could put it in jeoprardy.
As a result, I would think you would know before others if a NYMEX clearing
falure is in the works.  Do you have any insight at this time into NYMEX
payment performance?????

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


I just wanted to rsvp for the ENA function on Aug. 2.

Matt Lenhart


Gentlemen,

Attached for your review is a draft of the letter of intent.

Please let me know if you have any difficulty opening this document.

Kay


Dear Dave,

Attached please find the Cover Sheet, General Terms and Conditions and
Attachments for the above referenced Agreement.  Please don't hesitate to
call our attorney, Shari Stack at (713) 853-9477 or Kim Ward if you have any
questions.  I can be reached also at (713) 853-6389.

Regards,
Genia FitzGerald
Legal Specialist


I'm comfortable, so long as Rick and Paul are as well.

Best,
Jeff

	Paul Dawson/Enron@EUEnronXGate
	06/26/2001 04:01 AM

		 To: Paul Kaufman/ENRON@enronXgate, Jeff Dasovich/NA/Enron@Enron
		 cc: Mark Schroeder/ENRON@enronXgate, Richard Shapiro/NA/Enron@Enron
		 Subject: RE: UK Government secundee to Enron?

As Mark mentioned, I would recommend Edward Barker.  He is closely involved
in NETA and has a good understanding of power and gas markets. I also
wouldn't be concerned about whether CA is relevant - it is a major issue here
and on the Continent as the EU states begin to look at security of supply and
how they can avoid "doing a California".  Edward is sufficiently bright and
discerning to recognise any evidence he picks up in CA for what it is.

Based on the exchange of correspondence below, I will get back to Ian
Fletcher and ask for Edward's CV etc and indicate that we would be prepared
to consider a role in San Francisco (with some flexibility).  Please confirm
that you are happy for me to progress this further with the DTI.

Thanks

Paul

 -----Original Message-----
From:  Schroeder, Mark
Sent: 25 June 2001 21:47
To: Dawson, Paul
Cc: Shapiro, Richard
Subject: FW: UK Government secundee to Enron?

Paul D. - fyi.  You should also ask Ian for a copy of his CV.   thanks  mcs

 -----Original Message-----
From:  Shapiro, Richard
Sent: 25 June 2001 15:09
To: Schroeder, Mark
Subject: RE: UK Government secundee to Enron?

---------------------- Forwarded by Richard Shapiro/NA/Enron on 06/25/2001
03:08 PM ---------------------------
From: Paul Kaufman/ENRON@enronXgate on 06/25/2001 02:59 PM
To: Richard Shapiro/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron
cc:

Subject: RE: UK Government secundee to Enron?

I'd like to see his resume.  I don't know that California work will be
particularly informative--given the uniqueness of that great state, but we no
doubt can find a use for his skills.  I would want to see his CV.  It would
be a nonstarter for me if he was unwilling to travel to SFO or Portland on
regular basis.  However, the travel could be 3-4 days a week--i.e., he could
travel up on Monday and go home on Thursday.  (Or some other such schedule).
 -----Original Message-----
From:  Shapiro, Richard
Sent: Monday, June 25, 2001 11:29 AM
To: Dasovich, Jeff; Kaufman, Paul
Cc: Dawson, Paul; Mark Schroeder/Enron@ENRON
Subject: UK Government secundee to Enron?

What do you think?
---------------------- Forwarded by Richard Shapiro/NA/Enron on 06/25/2001
01:25 PM ---------------------------
From: Mark Schroeder/ENRON@enronXgate on 06/25/2001 01:22 PM
To: Richard Shapiro/NA/Enron@Enron
cc: Paul Dawson/Enron@EUEnronXGate

Subject: UK Government secundee to Enron?

Rick - I just got a call from Ian Fletcher, head of the Utilities Regulation
unit at the UK Department of Trade and Industry.  He reports to Anna Walker,
the Director General of Energy at the DTI.  Ian also knows Paul, and I am
sure that he only called me because he now knew of my US location.  Anyway,
here is what he asked:  They have a highly regarded junior civil servant,
Edward Barker (Paul and I have both met him, and rate him high), who is
getting married, and wants to locate to Los Angeles for a year while his
fiance/wife completes a Ph.D. at some school there.  The UK DTI will keep
paying him, so he is effectively free to us.  They want a relevant job/work
experience for him.  Ian does not know about his willingness to commute
during the week from San Francisco to LA (I told Ian we were receptive to
these kinds of things, if all else worked out), but will check.  I think it
would be good for Enron (Paul D. may have views on this), not only for
endearing Enron to key relationships at DTI, but exposing a UK civil servant
to the transparency of our regulation, US-style, cannot hurt either, as that
is something Paul is on a long march to improve in the UK.  I would think
challenging research, attendance at settlement conferences, some memo
writing, etc. would be sufficient (actually, that would be a bit below the
policy-formation role he now occupies), but do you have any thoughts?   I can
get his CV when you need it.  thanks  mcs


Stinson,

I am going to do the PRC review for Bob and Paulo.
If your time permits, please join me for these two meetings.

Bob:     9:00 am

Paulo: 10:00 am

I attended the PRC training, they suggested letting employees
read their review before the meeting.  So I did that.  Here are the
two files attached.

Zimin


Please review.


-----Original Message-----
From: 	Fleming, Rosalee   On Behalf Of Lay, Kenneth
Sent:	Tuesday, December 04, 2001 11:25 AM
To:	Oxley, David
Subject:	FW: Expenses repayment for Enron Europe

 -----Original Message-----
From: 	Connelly, Chris
Sent:	Tuesday, December 04, 2001 8:20 AM
To:	Lay, Kenneth
Subject:	Expenses repayment for Enron Europe

I was told by you that our expenses were going to get paid ( as per your voice mail ).  However, I was laid off from Enron Europe last Friday with another 800 people and we were told that our expenses were not going to be repaid by the company.

Can you please explain the conflict between the two messages and let me know who will reimburse me.  I am owed ?7000 from Enron

Chris


we are so so, what have you been up to, i was in the cafeteria,

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Tuesday, February 05, 2002 12:34 PM
To:	Maggi, Mike
Subject:

were you in the cafeteria earlier?  i thought that i saw you, but it was from far away.  how are you and sarah doing?


Due to a system error this original email could not open the powerpoint
presentation. Please launch the attachment.

Enron Global Markets has experienced tremendous growth since inception and
this growth rate will continue to increase as new businesses and markets are
developed.  In order to ensure EGM Operations & Accounting is positioned to
provide the highest level of support and value to each EGM business unit, I
am pleased to announce the following organizational changes effective
immediately.

Physical Commodity Operations
These groups, which include Crude & Products, Coal, LNG, Freight and Weather,
are being reorganized along functional lines to provide better focus and
promote efficiencies across these operational activities.  Weather is being
included in this group to maintain the consistency of current Operations
leadership in this area.

      Business Risk Controls
Todd Hall will assume the role as Business Risk Controller on a worldwide
basis for the physical businesses.  This group will have responsibility for
all Risk Management activities and serve as the daily commercial interface
for all operational issues that affect the physical businesses.

North America Operations
Michelle Bruce will assume responsibility for the following activities that
support the physical businesses for North America:  Confirmations,
Coordination, Settlements and Trade Accounting.  Michelle and her team will
also play a key role in coordinating operational activities as they relate to
potential acquisitions and new business opportunities within North America.

Europe/Asia Operations
Cindy Horn will continue in her role managing the following activities for
the physical businesses in Europe and Asia:  Confirmations, Coordination,
Settlements and Trade Accounting.  Cindy and her team will also have the
critical responsibility of ensuring proper controls and processes are
maintained for all new and existing markets throughout the region.  Tiong
Hock Lim and his team in Singapore will report to Cindy.

Financial Commodity Operations
Sheila Glover will expand her current role and manage all business risk and
operational activities for Financial Trading and Global Risk Management.  As
the Global Risk Management business grows, Sheila will develop the
operational processes and infrastructure necessary to support it.

Todd, Michelle, Cindy and Sheila will also work together as a Controller team
to ensure processes and controls are consistent across EGM and that
efficiencies are broadly applied.

Structuring/Transaction Analysis
Scott Earnest will assume responsibility for all commodity structuring and
transaction analysis activities across EGM.  His duties will include pricing
and valuation of new transactions and businesses, evaluation of existing
transactions to identify restructuring opportunities and risk controls
monitoring and reporting.

Technology
Kevin Sweeney will continue in his role as Technology Controller.  Kevin and
his team will be completing the implementation of Project Thunderball for
Crude & Products and Coal and will also serve as the Business Leads for
system enhancements and new technology opportunities that are identified.

Financial Operations & Accounting
Tom Myers will continue in his role of managing EGM Financial Operations &
Accounting.  Tom and his group are responsible for EGM management reporting,
Plan & Current Estimate preparation, the financial close process and G/L
controls.

Please see the attached organizational chart for a more detailed look at the
changes discussed above.

   Please join me in congratulating everyone on their new assignments.


FYI.
---------------------- Forwarded by James D Steffes/HOU/EES on 12/10/99 05:26
PM ---------------------------
From: Jennifer Fraser@ECT on 12/09/99 07:53 AM
To: Richard Shapiro/HOU/EES@EES
cc: James D Steffes/HOU/EES@EES
Subject: For my favorite card carrying commie

 - xmas.gif


I know nothing about Texas lien law

 -----Original Message-----
From: 	Mann, Kay
Sent:	Thursday, December 20, 2001 5:55 PM
To:	Zisman, Stuart; Tapscott, Ron; Jacoby, Ben; Schneider, Chip
Cc:	Rigby, John G.
Subject:	RE: Morris Letter

The lease is freely assignable. The lien rights are based not contractual, but exist in Texas law.  I used to have some info on Texas lien law, don't remember if I still do. I haven't worked a warehouseman lien issue. However, in general it is one thing to have a lien, and another to be able to foreclose on it, especially that quickly. In short, I don't know if whatever Morris is saying they will do in the timeframe described is permissible.

Rigby, you have any info on warehouseman liens in Texas?

Still looking for a copy of the letter from Morris. My fax number is 63491 if someone has it handy.

Thanks,

Kay

 -----Original Message-----
From: 	Zisman, Stuart
Sent:	Thursday, December 20, 2001 5:25 PM
To:	Leigh, Lorie; Tapscott, Ron; Jacoby, Ben; Mann, Kay; Schneider, Chip
Subject:	RE: Morris Letter

Please provide me with any comments to the letter.  I can work with Lorie to get it revised and send it out once we receive a consensus.

 -----Original Message-----
From: 	Leigh, Lorie
Sent:	Thursday, December 20, 2001 5:23 PM
To:	Tapscott, Ron; Jacoby, Ben; Mann, Kay; Zisman, Stuart; Schneider, Chip
Subject:	Morris Letter

 << File: morris_ltr_122001.pdf >>

Lorie Albrecht
Senior Admin. Asst.
Enron East Power Generation Development
Office: 713-853-1696


Crude 24X7 WTI Marketing Effort
New Trading Counterparty:
	OGE Energy Resources, Inc.

Trade Count:
	288	Trades
	13.7	Millions of Barrels
	10	Counterparties Transacting Today
	30	Counterparties Transacting to Date
	743	Millions of Barrels Traded YTD

Comments:
The NYMEX chart has been revised to be a more accurate reflection of volumes traded by only including the prompt month as we do not offer additional months on a consistent basis.

<Embedded Microsoft Excel Chart>
<Embedded Microsoft Excel Chart>
<Embedded Microsoft Excel Chart>
<Embedded Microsoft Excel Chart>


No

 -----Original Message-----
From: 	Gregory, Paul
Sent:	Tuesday, March 12, 2002 4:04 PM
To:	Parks, Joe
Subject:	Any luck on the SoCal and PGE curves from this morning?


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/07/2001
12:27 PM ---------------------------

"Btu" <subs@btu.net> on 05/04/2001 05:24:24 PM
To: "Btu Weekly" <>
cc:
Subject: Btu Weekly

Attached is the latest issue of Btu Weekly.

e-mail: info@Btu.net
phone: 732-758-8222
fax: 732-758-8286

 - wg050701.pdf


I'm not usually a Galveston person, but it might be worth considering in
December.  Might be best with Michael, though, so we could go to Moody
Gardens and the Strand.  What I don't like about Galveston is the water
(duh).  The San Luis is set up for kids, and has a neat view.

Guess I have itchy feet.  I haven't be on the road in a couple of weeks!  All
I see at the house is responsibility, and we never do anything anyway.

Any ideas?

ckm


Enjoy!
 - 20011109ERCOT_LOAD.XLS
 - 20011109ERCOT_FLOW.XLS


Daran,  We have a few volume changes for the 1st of March,  first EOG has
changed there volume for the gas at meter 6296 from 11,036 to 7100.  I  ran
into Laurie Allen in the hall and she said we were heavy there and  that she
would visit with you abut it.   The second one is Cokinos, they  will not
confirm the volume at meter 9656.  We have 922 and they want that they want
950.  I looked up there nom and that is what they asked for.  Not much of a
change.  Last is the one that you faxed down to me this mornings.  Basin
Exploration wants to drop there nom due to well problems from 896 to 1.  for
the whole month.  Let me know what you think and I'LL get after it.  Tom Cat
!!!


nothing is going on here.  i am actually going to grand cayman tomorrow for
the weekend.  it should be an ok weekend.  did you go out on saturday?  i was
hurting when i woke up sat morning.


Jeff:  We are going to have a call with OPIC tomorrow to discuss the turbine
export issue and the state of affairs in the California re power.  The two
times that OPIC people are available are 11:30-2:00 and 4:30-5:30 (both times
are eastern standard time).  Does one of these slots appear better for you?
I don't anticipate that you would be needed for the entire time allotted for
the call but I'm sure the OPIC people will have some questions requiring your
knowledge of California.  Attached, please find a summary document we're
working on containing talking points we want to convey to OPIC.  Again,
thanks for your help, Scott


Your list is very close to mine.  I'm making a list as I go back through the
draft, so I'll update when I get through.

Kay

	From:  Scott Healy @ ECT                           11/01/2000 05:25 PM

To: Kay Mann/Corp/Enron@Enron, Stephen Plauche/Corp/Enron@Enron
cc: Jeffery Ader/HOU/ECT@ECT, Heather Kroll/HOU/ECT@ECT

Subject: P.O. Exhibits

I looked through the exhibit package that you sent me.  I have highlighted
the exhibits that believe that  we definitely need.  I also listed some other
potential exhibits.  What are your thoughts on our specific requirements?

Exhibit A (Purchase Amount)--I assume that we need this schedule.
Exhibit A-1 (Contractors Affidavit)--Do we need?
Exhibit A-2 (Lien Waiver)--Do we need?
Exhibit B (Work Schedule)--I assume that we don't need this Exhibit as the
schedule is to be agreed?
Exhibit C (Seller Scope of Work)--I assume that we will attach a schedule
similar to the scope division document that we have exchanged with FCE
Exhibit C-1 (Contractor Clarifications)--Do we need this exhibit?
Exhibit C-2 (Unit Scope of Supply)--Can this document be combined with the
specifications?
Exhibit C-3 (Training)--I assume that we need this schedule?
Exhibit D (Subcontractors)--Do we need?
Exhibit E (Fuel Specifications)--I assume that we need.
Exhibit F Performance Guarantees)--Do we need since it is in the body of the
agreement?
Exhibit G (LDs)--N/A
Exhibit H (Performance Tests)--We are currently working on a draft.
Exhibit H-1 (Output & Heat Rate)--Contained in H.
Exhibit H-2 (Sound)--Should be incorporated into Exhibit H.
Exhibit H-3 (Emissions)--Should be incorporated into Exhibit H.
Exhibit H-4 (Ready for Test)--Do we need?
Exhibit I (Insurance)--Do we need?
Exhibit J (Enron Guaranty)--Do we need?
Exhibit K (Site Plan)--N/A.
Exhibit L (Seller Guarantee)--Do we need to cover advance delay payments?
Exhibit M (Governmental)--Do we need?
Exhibit N (Owner Obligations)--We need.
Exhibit O (Change Order)--Do we need?
Exhibit P (Specs)--Probably need to be conceptual design.

Additional Exhibits
1.  Form of Release.
2.  Water Specifications.
3.  Degradation Curves.


Reminder.

---------------------- Forwarded by Sami Arap/SA/Enron on 09/22/2000 06:40 PM
---------------------------

Sami Arap
09/13/2000 11:57 AM
To: Mark Taylor/HOU/ECT@ECT
cc: Remi Collonges/SA/Enron@Enron, David Rosenberg/FGT/Enron@ENRON, Ricardo
Lisboa/SA/Enron@Enron

Subject: Re: EnronOnline

Mark;

I've been working with Brazilian local outside counsel on this EOL matter and
just had a meeting with Remi, David and Ricardo this morning.  For the
purpose of finalizing the legal support (especially the review and
"tropicalization" of the EOL agreements), I have a few questions for you:

What entity owns the EOL site ?
Will there be an agreement entered into between the entity that owns the EOL
site and Enron Comercializadora de Energia Ltda. (and its designated
branches) for the purpose of authorizing Enron Comercializadora de Energia
Ltda. to use the EOL tool in Brazil ?
For the purposes of doing business through the EOL tool, would Enron South
America (and its designated affiliates) or ECE have to enter into the PA and
the ETA with the entity that owns the EOL site ?

Please note that I have only referred to ECE because I am working under the
assumption that, at this point in time, we will only do power deals in
Brazil.  In view of this and for regulatory reasons, the entity buying and
selling power in Brazil must be ECE (the Enron entity authorized by MAE).

Thanks and Regards,

Sami

---------------------- Forwarded by Sami Arap/SA/Enron on 09/13/2000 10:35 AM
---------------------------

Andrea Bertone
08/15/2000 12:43 PM
To: Mark Taylor/HOU/ECT@ECT
cc: Remi Collonges/SA/Enron@Enron, Ricardo Lisboa/SA/Enron@Enron, Sami
Arap/SA/Enron@Enron

Subject: Re: EnronOnline

Mark:

Implementation of the EOL project in Brazil had been postponed for a while
because of regulatory matters. The Market Rules were still being discussed
and had not been approved by ANEEL, making it impossible for us to implement
EOL, from a regulatory standpoint. Recently (about a couple of weeks ago),
ANEEL issued Resolution 290/00, approving the Market Rules, subject to
certain amendments. The amendments will be implemented in stages over the
course of the next few years. After Resolution 290 was issued and the
regulatory issues were partially resolved, the EOL team decided to work on
the project again. I am now in the course of adapting the ETA, GTC and
Password Application for use in Brazil. I will probably have drafts for
comments within the next 10 days. I am not sure about the time estimate for
completion of the project as a whole. I believe Remi can give you a better
idea of the schedule.

I will forward to you in a separate e-mail the legal opinion that we received
from outside counsel, addressing the issues in the memo prepared by your
team. Also, I take the opportunity to let you know that I am leaving Enron by
the end of August. From September on, the contact people for the EOL project
will be Remi and Ricardo on the commercial side, and Sami Arap on the legal.
In the meantime, please feel free to contact me if I can be of any further
assistance.

Andrea

From: Mark Taylor@ECT on 08/14/2000 05:57 PM CDT
To: Andrea Bertone/SA/Enron@Enron
cc:

Subject: EnronOnline

Any progress on the EnronOnline front?  I'm getting questions from the EOL
team in Houston as to our time estimate to completion and wondered if you had
heard back from outside counsel.


A note from Bieraugel.  We need to go out and see these guys when we get a
chance.

Hang in there.  Things will start to come around, it is just going to take
some time.

---------------------- Forwarded by Gerald Nemec/HOU/ECT on 07/20/99 09:03 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Paul Bieraugel" <bieraugel@efortress.com>
07/08/99 06:33 AM

To: Gerald Nemec/HOU/ECT
cc:
Subject: Re: What's Up!!

Gerald, Michele will be in San Diego starting Nov this year.  I won't be
back from the Gulf until March 20, 2000.  I'll be there for around two
years...then....we'll see.  I'm considering leaving the Navy.  not sure yet.
You and Lisa are always welcome.  Just let us know or just jet out for the
weekend whatever works.  Hi to Lisa.  Paul.


Drew:  Call me.  We've got some unexpected conflicts this weekend.  Personal
shit and I mean SHIT!!

-----Original Message-----
From: Drew.Fossum@enron.com [mailto:Drew.Fossum@enron.com]
Sent: Sunday, November 26, 2000 7:27 PM
To: Hooker, David
Subject: RE: Houston

Outstanding!!!  Still colder than shit up here--what are you guys even
thinking on moving up here????  I'll call you to check out the details
later this week.  Thanks. DF

"Hooker, David" <dhooker@caes.net> on 11/22/2000 09:47:43 AM

To:   Drew.Fossum@enron.com
cc:   merrileech@aol.com

Subject:  RE: Houston

Absolutely!  We fire up the heater on the pool so bring the girls suits.

-----Original Message-----
From: Drew.Fossum@enron.com [mailto:Drew.Fossum@enron.com]
Sent: Tuesday, November 21, 2000 10:02 AM
To: dhooker@caes.net
Subject: Houston

Hey, got my facts together on our Houston gig--we'll be down Sat. Dec. 2
through mon the 4th.  Any chance we could swing by on Sunday and see  you
guys?  DF


Charles Schwab & Co., Inc.
Email Alert

Morning Market View(TM)
for Wednesday, October 24, 2001
as of 9:30AM EDT
Information provided by Schwab Center for Investment Research

EARNINGS, EARNINGS, AND MORE EARNINGS

Amid a flurry of mixed earnings results and cautious guidance,
equity index futures were pointing to a slightly positive open
for stocks ahead of today's Beige Book economic summary at 2:00
p.m. EDT.

Personal computer maker Compaq Computer (CPQ,9.40,f2&f4) said it
incurred a 3Q loss, excluding items, of $0.07 per share, $0.01
shy of the First Call consensus estimate, owing to sluggish
demand, supply problems and competitive pressures. Looking
ahead, Compaq lowered its 4Q outlook, saying its expects an
operating loss of $0.03 per share, lower than the break-even
First Call consensus estimate.

Long distance giant AT&T (T,17.70,f2), said 3Q profits,
excluding costs and a $13.5 billion gain from parting with its
wireless business, were $0.04 per share, in line with the First
Call consensus estimate. Sales fell nearly 8% for the period on
a slump in long-distance service demand.

Internet retailing giant Amazon.com (AMZN,9.55,f2) said its 3Q
loss, excluding items, narrowed to $0.16 a share, matching the
First Call consensus estimate, on revenues of $639.3 million,
slightly below the Street's $650.3 million mean forecast. The
company attributed the slimmer loss to cost cutting at its
warehouses. Going forward, Amazon said it expects 4Q sales to be
flat to 10% higher, down from its previous guidance of a 10%-20%
increase. The new estimate would put sales in the range of $970
million to $1.07 billion, below the First Call consensus of
$1.10 billion.

Eastman Kodak (EK, 34), the largest photography company,
reported 3Q operating profits of $0.52 per share, in line with
the Street's estimates. The Dow component announced that it will
eliminate as many as 4,000 workers, and that 4Q operating
profits will be about one-third of the First Call consensus
estimate of $0.46 cents per share, due to the economic malaise.

DuPont Co. (DD,42) posted 4Q profits of $0.13 per share, ahead
of the Fist Call consensus estimate of $0.10 per share, but the
chemical giant and Dow component warned that 4Q earnings would
be roughly $0.12 per share, below the Street's mean $0.17 per
share forecast, in anticipation of sluggish demand.

Aerospace and diversified manufacturer Honeywell International
(HON,28,f2) reported 3Q profits, excluding charges, of $0.44 per
share, matching the First Call consensus estimate. Including a
$1 billion charge for job cuts and restructuring, Honeywell
posted a net loss of $0.38 a share. The Dow component said its
aerospace business was hurt by sluggish demand in the airline
industry, aggravated by the September attacks.

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

TREASURY AND ECONOMIC SUMMARY

Bonds were slightly higher ahead of today's 2:00 p.m. EDT Beige
Book report on the economy, which will serve as a basis of
discussion and policy at the upcoming Nov. 6 Federal Open Market
Committee meeting. Additional monetary easing is likely given
the backdrop of relatively subdued inflation and a weak economy.

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

WORLD MARKETS

European bourses were mixed with strength in paper, insurance
and manufacturing stocks. The Bloomberg European 500 Index was
down 0.05% as of 8:57 a.m. EDT. Economic data, reflecting waning
inflation in Germany and France, fostered speculation that the
European Central Bank will cut the benchmark lending rate at
Thursday's meeting. The euro was marginally higher against the
dollar following the news.

Asian markets were mixed with Japan's Nikkei-225 Index falling
0.55%. Technology and pharmaceutical stocks were lower, while
banking and communication stocks were among the best performers.
Banks got a boost as the coalition party pushed to expand the
authority of the Resolution and Collection Corporation to
redress the bad loan situation. The dollar was slightly higher
against the yen in early morning activity. Crude oil was trading
lower following an American Petroleum Institute report that
inventories rose a larger-than-expected 1.6% in the U.S.

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

FUTURES WATCH

In the December Globex futures contract as of 8:55 a.m. EDT, the
S&P 500 Index was up 2.5 points (4 points above fair value),
while the Nasdaq 100 index was down 1 point (5 points above fair
value). The December DJIA futures contract was up 7 points (21
points above fair value), and the December crude oil futures
traded on the NYMEX were down $0.31 at $21.54/barrel.

William Johnson, Market Analyst

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Distribution by Quris, Inc.


Sara,

    I have amended the agreement.  I don't see the details of Annex A, but I
usually don't check that over
anyway.

Thanks,
Andrew

Sara.Shackleton@enron.com wrote:

> Andrew:
>
> Thanks for the email.
>
> I now have my facts straight.  The account is currently in the name of "ECT
> Investments, Inc." (and not Enron North America Corp.).  The specific ECT
> Investments, Inc. account at Morgan Stanley that is being transferred is:
> 038-08826-6 (which is the credit book).
>
> I thought you would want to modify the assignment agreement since it is
> your agreement.  I also wanted to be certain that the Annex A description
> is sufficient for you.
>
> Please call if you have any questions.  Thanks.
>
> Sara Shackleton
> Enron North America Corp.
> 1400 Smith Street, EB 3801a
> Houston, Texas  77002
> 713-853-5620 (phone)
> 713-646-3490 (fax)
> sara.shackleton@enron.com
>
>
>                     "H. Andrew Schwed"
>                     <Andrew.Schwed@morganst        To:
sara.shackleton@enron.com
>                     anley.com>                     cc:     Ketan Parekh
<Ketan.Parekh@morganstanley.com>
>                                                    Subject:     assignment
agreement
>                     05/21/2001 03:54 PM
>                     Please respond to
>                     Andrew.Schwed
>
>
>
> Sara,
>
>     Attached is the amended agreement.  Please call me with any
> questions.
>
> Regards,
> Andrew Schwed
>
> (See attached file: Enron Assignment.doc)
>
>   ------------------------------------------------------------------------
>                                   Name: Enron Assignment.doc
>    Enron Assignment.doc           Type: Microsoft Word Document
(application/msword)
>                               Encoding: base64
>                        Download Status: Not downloaded with message

 - Enron Assignment.doc


The NEB has advised that because of the substantial opposition to the Settlement, it can not treat it as a "Negotiated Settlement".  This means the board will not be obligated to approve or deny the application as a whole and could cherry pick what components get approved.  The board has asked TCPL to confirm whether to they wish to proceed with the application or file something new before the board establishes a process to consider the tolls.  Interesting to see if any of the signatories walk away from the deal in light of this.
Kevin


James,

Please change the following Sitara deals for December 2001 to $2.3383:

Deal No.	POI

594833		16119
109473		16102
156869		16102
207039		16102
253952		16102
318420		16102
352617		16102
40399		16102
40401		16102
40402		16102
71744		16102
40393		16117
1146752	16119
118380		16119
156865		16119
156875		16119
231751		16119
231752		16119
253906		16119
253946		16119
318413		16119
352617		16119
458679		16119
550864		16119
594832		16119
64154		16119
64155		16119
64156		16119
64158		16119
64159		16119
64161		16119
64162		16119
643880		16119
643882		16119
643885		16119
86362		16119
86373		16119
58365		16137
40397		16139
118129		16195
40403		16250
40404		500286
40405		500286
40406		56657
40407		56658
40408		62991
40409		63009
40411		63010
80041		71448
318426		71452
570534		78111
534938		78112

Thanks,

Max


Daren,

FYI.

Bob

---------------------- Forwarded by Robert Cotten/HOU/ECT on 09/20/2000 04:45
PM ---------------------------

Vance L Taylor
09/20/2000 04:44 PM
To: Robert Cotten/HOU/ECT@ECT
cc: Gary A Hanks/HOU/ECT@ECT, Mary M Smith/HOU/ECT@ECT, Lisa
Hesse/HOU/ECT@ECT, Trisha Hughes/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT
Subject: October Prelim Production Estimate

Bob,

Please see the attached file estimating wellhead production for the month of
October.  Please be advised that this is a preliminary estimate as to this
date, we have received only a few noms for October and there may be revisions
from the traders.  I will update you with any revisions as they occur.

Thanks,

vlt
x3-6353


Sonia,

Kim may have some changes to the seating assignments.  I believe these changes will also affect where Evelyn's settlements group sits.  Please coordinate changes and then send me a list of desk #'s and associated names.  I need to forward this information to Lloyd Will.

Thanks,
Stacey


Hi there --- Had lunch with Mo today  -- so as you can imagine she was very
interested in my new role, working with you.  Fernley has decided that it is
too hard to write down all of the organizational changes and how it affects
all of the people who reported in to Phillip and I, so he has just verbally
announced the changes.  But, at any rate, the word is getting out.

I hadn't seen Mo in months, so it was good to catch up.  I think she is
headed to Houston this week (so is Frank) so I am sure you will be hearing
from her.

I have tentatively blocked out the week beginning Monday, Nov. 13th to come
over to Houston, and would like to spend some of that time with you and your
team, meeting people, and maybe just following you around for the day, as you
suggested.

Does that week work for you?  I think the Management conference is later in
the month, so people will generally be around.

Please let me know, and I will make sure it happens.  I will also need to
spend some time with Melissa Becker and her team working on Post ASE
Reporting solutions, but will plan to spend a significant amount of time with
the North America group.

What do you think?  I am ready to get moving on some new things!!!!

Beth


I'm just sitting here worrying about one of my side deals with Frank, so just
to reiterate a global shut down (like-no one does Credit Derivatives unless
we really mean it), no non-European based counterparty (in all probability,
no counterparty originating from U.S. Credit) should be approved to trade
European physical power products.  They have licensing requirements similar
to our FERC licensing.

Thanks!


CPUC response deadline extended until 8/15.
---------------------- Forwarded by Mona L Petrochko/SFO/EES on 09/06/2000
02:48 PM ---------------------------

JMB <JBennett@GMSSR.com> on 09/06/2000 01:58:21 PM
To: "'ARM@Phaser.com'" <ARM@Phaser.com>
cc: "'jleslie@luce.com'" <jleslie@luce.com>
Subject: FW: OII 00-08-002 - New Deadlines for Comments

If we have been given a reprieve.  The comments on the ACR are not due until
Friday the 15th. And then we have a week for reply (originally 5 days with
two being a weekend).

I will send out a draft today as planned.  Unfortunately, I will not be
available to finish the final product as I am leaving this p.m. to head back
east due to a family emergency.  Mike, however, should be able to pick up
the ball.

-----Original Message-----
From: Marc D. Joseph [mailto:mdjoseph@adamsbroadwell.com]
Sent: Wednesday, September 06, 2000 1:23 PM
To: kmagrude@enron.com; jwilliams@eei.org; kmccrea@sablaw.com;
michael-briggs@reliantenergy.com; defrawis@efaches.navfac.navy.mil;
rcstl@cdmnet.com; mbrubaker@consultbai.com; alex.goldberg@williams.com;
anchau@shellus.com; kbosley@reliantenergy.com; napedersen@jonesday.com;
athomas@newenergy.com; rpetti@ladwp.com; eklinkner@ci.pasadena.ca.us;
lgurick@calpx.com; slins@ci.glendale.ca.us; douglass@arterhadden.com;
bjeider@earthlink.net; randy_britt@mayco.com; roger.pelote@williams.com;
lehrerjm@sce.com; fmo@citydb.sannef.gov; jleslie@luce.com;
kmelville@sempra.com; jtukey@popmail.ucsd.edu; jsteffen@iid.com;
kbjoha@aol.com; uwuaregions@earthlink.net; mnelson@electric.com;
furutanj@efawest.navfac.navy.mil; mdjoseph@adamsbroadwell.com;
jjz@cpuc.ca.gov; jlondon@gralegal.com; phanschen@mofo.com;
jbennett@gmssr.com; lys@aelaw.com; mrh2@pge.com; wbooth@booth-law.com;
askaff@energy-law-group.com; dmarcus@slip.net;
brbarkovich@earthlink.net; jeff@jbsenergy.com; cmkehrein@ems-ca.com;
jweil@aglet.org; abb@eslawfirm.com; dcarroll@dbsr.com;
dkk@eslawfirm.com; jtachera@energy.state.ca.us; kmills@cfbf.com;
mpa@aelaw.com; dws@twaycorp.com; cmarshall@aarp.org;
shelton.cannon@ferc.fed.us; dnorris@sppc.com; LVanWagenen@sempra.com;
mshames@ucan.org; leelane@flash.net; ramona@san.rr.com; adeveau@sel.com;
btenney@landuselaw.com; bfinkelstein@turn.org; rschmidt@bartlewells.com;
chilen@llgm.com; thoulihan@mdbe.com; ssmyers@hooked.net; ell5@pge.com;
jyf1@pge.com; gtbl@dynegy.com; steve.huhman@southernenergy.com;
difellman@energy-law-group.com; rbw@mrwassoc.com; pmcdonne@wenet.net;
rmccann@cal.net; cabaker@duke-energy.com; jluby@aarp.org;
bho@cpuc.ca.gov; ltt@cpuc.ca.gov; mzr@cpuc.ca.gov; msw@cpuc.ca.gov;
meb@cpuc.ca.gov; pmd@cpuc.ca.gov; pha@cpuc.ca.gov; rtf@cpuc.ca.gov;
wsc@cpuc.ca.gov; shg@cpuc.ca.gov; scr@cpuc.ca.gov; ztc@cpuc.ca.gov;
saw@cpuc.ca.gov; mjaske@energy.state.ca.us; jonathan.teague@dgs.ca.gov;
Slayman@energy.state.ca.us; ideilam@smud.org
Subject: OII 00-08-002 - New Deadlines for Comments

At the request of the Coalition of California Utility Employees,
Commissioner Wood has extended the deadlines for comments and reply
comments set forth in his August 29, 2000 Assigned Commissioner's Ruling
Providing for Comments on Certain Wholesale Market Issues.  The
deadlines for comments and reply comments are each extended by 7 days.
This notice is being sent by CUE at the request of Commissioner Wood.


Talk with Rick, but I think this project is complete.

-----Original Message-----
From: Shapiro, Richard
Sent: Sunday, August 12, 2001 6:23 PM
To: Steffes, James D.
Subject: RE: New Generation Stats.

Yes,thanks.

-----Original Message-----
From:	Steffes, James D.
Sent:	Sun 8/12/2001 5:54 PM
To:	Shapiro, Richard
Cc:
Subject:	FW: New Generation Stats.

Has your initial question been answered?

Jim
 -----Original Message-----
From: 	Gottfredson, Bryan
Sent:	Thursday, August 09, 2001 11:13 AM
To:	Steffes, James D.
Subject:	New Generation Stats.

Jim:

These are some numbers that I have been working on.  Hopefully they will be helpful to you.

 <<TX v. CA.ppt>>
Bryan


Chris

I am sort of hoping you know about the deadline for start up plans - I know yours is slightly different but something needs to be done by tomorrow.

Thanks

Louise
 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Thursday, December 27, 2001 4:58 PM
To:	Belden, Tim; Calger, Christopher F.; Presto, Kevin M.; Duran, W. David; Robinson, Mitch; Forster, David; Curry, Mike; Arnold, John; Shively, Hunter S.; Milnthorp, Rob; Zufferli, John; Luce, Laura; Vickers, Frank; Neal, Scott; Lagrasta, Fred; Aucoin, Berney C. ; Steffes, James D.; Roberts, Mike A.; Grigsby, Mike; Tycholiz, Barry; Allen, Phillip K.; Redmond, Brian; Martin, Thomas A.
Cc:	Lavorato, John
Subject:	Re-start/Integration Planning

We have for the last couple of weeks started to compile the Re-start/Integration Plans for Netco.  So far, we have primarily focussed on the mid/back plans where the technology requirements have been the driving factors.  Several plans are in the final stages of completion including:-

+	Infrastructure		Jenny Rub
+	Development		Jay Webb
+	EnronOnline		Webb / Forster
+	HR			David Oxley
+	Cash Management	Tom Myers
+	Credit			Debbie Brackett

The rest will be completed shortly.

We now need to focus on the commercial plans which have a slightly different focus. John and I would like to receive the plans "Re-start/Integration"  plans by January 7th, 2002 in order to go through them individually with each of you or in groups.  The focus should be to ensure that we have as much of the business up and running in the shortest time possible.  I have a suggested outline which you do not have to use but I thought it might help.  Please decide within yourselves the areas you will cover together or individually.

Customer Side
+	Customers		Phase  1 - First Week (eg top 10)
				Phase  2 - First Month (eg top 50)
				Phase  3 - First Quarter (eg top 100)
+	Action Plan		Phase  1 Customers
				Phase  2 Customers
				Phase  3 Customers
+	Contracts by customers (pre-prepared with credit terms etc)
+	Customer visit schedule

Product Side
+	List of Products	Phase 1 - First Week
				Phase 2 - First Month
				Phase 3 - First Quarter

Target Number of Transactions
+	Phase 1
+	Phase 2
+	Phase 3

IT transfer

Louise


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

This email was sent to mark.e.haedicke@enron.com. If you have received this
e-mail in error, please reply to this e-mail and type remove in the subject
line.


FYI
---------------------- Forwarded by Richard Shapiro/HOU/EES on 07/31/2000
07:00 AM ---------------------------
From: Aleck Dadson@ECT on 07/30/2000 02:36 PM MDT
To: Richard Shapiro/HOU/EES@EES
cc:
Subject: ADRD Response - Enforceability Risk and PPA Errata/Clarification

 Rick, This should have been addressed to you too!  Regards,   Aleck
---------------------- Forwarded by Aleck Dadson/TOR/ECT on 07/30/2000 04:33
PM ---------------------------
From: Robert Hemstock on 07/28/2000 06:43 PM MDT
To: Aleck Dadson/TOR/ECT@ECT
cc:
Subject: ADRD Response - Enforceability Risk and PPA Errata/Clarification

While this may sound a bit like I am tooting my own horn for having done
things that I am paid and expected to do, I thought I would let you know that
I am quite proud of having accomplished the results we achieved in relation
to identifying the regulatory risks and advocating for changes that would
mitigate or eliminate many of the risks in the PPAs over the last few
months.  In particular, I thought to write this note to you because I am
proud of the comment I received from Larry Charach this evening during our
final conversation in relation to the issues described below.  Larry said to
me that his decision to take steps to address Enron's concerns at this late
date was based in large part on our relationship and the trust that he has
developed in me as a result of having worked with me for some time.

---------------------- Forwarded by Robert Hemstock/CAL/ECT on 07/28/2000
06:03 PM ---------------------------

	From:  Robert Hemstock                           07/28/2000 06:04 PM

To: Derek Davies/CAL/ECT@ECT, Andre Templeman/CAL/ECT@ECT, Peter
Keohane/CAL/ECT@ECT
cc:
Subject: ADRD Response - Enforceability Risk and PPA Errata/Clarification

I spoke to Larry Charach and he advised:

1) He has authority from the Deputy Minister to request and recommend the
Registrar of Regulations that he accept the PPAs for filing under the
Regulations Act.  ADRD legal counsel has apparently discussed this with the
Registrar of Regulations and it is not expected that there will be any
problem.  Larry may have to have a discussion on Monday morning directly with
the Registrar to answer questions respecting why this is necessary and what
it needs to be done on an expedited basis.  Apparently, even expedited it
will take a week for the registration process such that the ADRD intends to
send a notice to all bidders on Monday that it has received approval for the
PPAs to be registered as a regulation and that such registration will not
likely be effective after the PPA auction has commenced.

2) He has spoken with the Executive Director of the AEUB, Bob Heggie, who has
indicated that he intends to recommend to the Chairman of the AEUB on Monday
morning that the AEUB issue an AEUB Order accepting the 26
errata/clarifications identified by PWC on June 2000 and the subsequent
errata/clarifications that have been identified since.  Apparently PWC will
have this letter done on Monday and I expect it will include the FRDT and
PRDT issue.
I believe all of the following outstanding errata/clarifications have now
been addressed to Enron's satisfaction:

(a) NPV in the RBPA;
(b) parasitic load
(c) change in law - more profitable
(d) clarification of FCR
(e) FRDT and PRDT (Article C7).

Regards,

Rob


---------------------- Forwarded by Richard B Sanders/HOU/ECT on 02/12/2000
07:18 AM ---------------------------

TexBasque@aol.com on 01/11/2000 01:32:45 PM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: Check out Organic Consumers Association and BioDemocracy works to
save organi

 Click here: Organic Consumers Association
and BioDemocracy works to save organic standards and label genetically
engineered fo

As we discussed this morning, I'm attaching the Purefood.org website for your
perusal.  They really don't seem to be PETA activists at all or "junk"
scientists.  I'm sure that you'll see they are simply looking for wholesome
food without dangerous additives, pesticides, etc.