Vince,
UK VAR breached the limit last week.
UK traders asked us to review the correlations across UK gas and power as
well as the correlations across EFA slots.
We did part of the work last week.
Now we'll update the correlations based on historical prices.

Tanya.

Richard Lewis
10/08/2000 07:31 AM
To: Tanya Tamarchenko/HOU/ECT@ECT
cc: Oliver Gaylard/LON/ECT@ECT, James New/LON/ECT@ECT, Steven
Leppard/LON/ECT@ECT, Rudy Dautel/HOU/ECT@ECT, Kirstee Hewitt/LON/ECT@ECT,
Naveen Andrews/Corp/Enron@ENRON, David Port/Market Risk/Corp/Enron@ENRON, Ted
Murphy/HOU/ECT@ECT, Simon Hastings/LON/ECT@ECT, Paul D'Arcy/LON/ECT@ECT, Amir
Ghodsian/LON/ECT@ECT
Subject: Re: VaR correlation scenarios

Thanks Tanya, these are interesting results.  I am on vacation next week, so
here are my current thoughts.  I am contactable on my mobile if necessary.

Gas to power correlations
 I see your point about gas to power correlation only affecting VAR for the
combined gas and power portfolio, and this raises an interesting point:  At a
conservative 30% long term correlation, combined VAR is o1mm less than
previously expected - so how does this affect the limit breach?  Strictly
speaking, we are still over our UK power limit, but the limit was set when we
were assuming no gas power correlation and therefore a higher portfolio VAR.

A suggested way forward given the importance of the spread options to the UK
Gas and Power books-
can we allocate to the gas and power books a share of the reduction in
portfolio VAR  - ie [Reduction = Portfolio VAR - sum(Power VAR + Gas VAR)]?

Also, if I understand your mail correctly, Matrix 1 implies 55% gas power
correlation is consistent with our correlation curves, and this reduces total
VAR by o1.8mm.

EFA slot correlations
The issue of whether our existing EFA to EFA correlation matrix is correct is
a separate issue.  I don't understand where the Matrix 2 EFA to EFA
correlations come from, but I am happy for you to run some historical
correlations from the forward curves (use the first 2 years, I would
suggest).  Our original matrix was based on historicals, but the analysis is
worth doing again.  Your matrix 2 results certainly indicate how important
these correlations are.

Closing thoughts
Friday's trading left us longer so I would not expect a limit breach on
Monday.  We are still reviewing the shape of the long term curve, and I'd
like to wait until both Simon Hastings and I are back in the office (Monday
week) before finalising this.

Regards

Richard

Tanya Tamarchenko
06/10/2000 22:59
To: Oliver Gaylard/LON/ECT@ECT, Richard Lewis/LON/ECT@ECT, James
New/LON/ECT@ECT, Steven Leppard/LON/ECT@ECT, Rudy Dautel/HOU/ECT@ECT, Kirstee
Hewitt/LON/ECT@ECT, Naveen Andrews/Corp/Enron@ENRON, David Port/Market
Risk/Corp/Enron@ENRON, Ted Murphy/HOU/ECT@ECT
cc:

Subject: Re: VaR correlation scenarios

Everybody,
Oliver  sent us the VAR number for different correlations for UK-Power
portfolio separately from UK-Gas portfolio.

First, if VAR is calculated accurately the correlation between Power and Gas
curves should not affect VAR number for Power and VAR number for Gas, only
the aggregate number will be affected. The changes you see are due to the
fact that we use Monte-Carlo simulation method,
which accuracy depends on the number of simulations. Even if we don't change
the correlations but use different realizations of random numbers,
we get slightly different result from the model.

So: to see the effect of using different correlations between Gas and Power
we should look at the aggregate number.

I calculated weighted correlations based on 2 curves I got from Paul. As the
weights along the term structure I used the product of price, position and
volatility for each time bucket for Gas and each of EFA slots. The results
are shown below:

Inserting these numbers into the original correlation matrix produced
negatively definite correlation matrix, which brakes VAR engine.
Correlation matrix for any set of random variables is non-negative by
definition, and remains non-negatively definite if calculated properly based
on any historical data.
Here, according to our phone discussion, we started experimenting with
correlations, assuming the same correlation for each EFA slot and ET Elec
versus Gas. I am sending you the spreadsheet which summaries the results. In
addition to the aggregate VAR numbers for the runs Oliver did, you can see
the VAR numbers based on correlation Matrix 1 and Matrix 2. In Matrix 1 the
correlations across EFA slots are identical to these in original matrix.
I obtained this matrix by trial and error. Matrix 2 is produces by Naveen
using Finger's algorithm, it differs from original matrix across EFA slots as
well
as in Power versus Gas correlations and gives higher VAR than matrix 1 does.

Concluding: we will look at the historical forward prices and try to
calculate historical correlations from them.

Tanya.

Oliver Gaylard
10/06/2000 01:50 PM
To: Richard Lewis/LON/ECT@ECT, James New/LON/ECT@ECT, Steven
Leppard/LON/ECT@ECT, Rudy Dautel/HOU/ECT@ECT, Kirstee Hewitt/LON/ECT@ECT,
Naveen Andrews/Corp/Enron@ENRON, Tanya Tamarchenko/HOU/ECT@ECT, David
Port/Market Risk/Corp/Enron@ENRON
cc:
Subject: VaR correlation scenarios

The results were as follows when changing the gas/power correlations:

Correlation  VaR-UK Power book       VaR- UK Gas book
 0.0  o10.405MM       o3.180MM
 0.1  o10.134MM       o3.197MM
 0.2  o10.270MM       o3.185MM
 0.3  o10.030MM       o3.245MM
 0.4  Cholesky decomposition failed (Not positive definite)
 0.5  Cholesky decomposition failed (Not positive definite)
 0.6  Cholesky decomposition failed (Not positive definite)
 0.7  Cholesky decomposition failed (Not positive definite)
 0.8  Cholesky decomposition failed (Not positive definite)
 0.9  Cholesky decomposition failed (Not positive definite)
 1.0  Cholesky decomposition failed (Not positive definite)

Peaks and off peaks were treated the same to avoid violating the matrix's
integrity.

Interesting to note that for a higher correlation of 0.2 the power VaR
increases which is counter to intuition.  This implies that we need to look
into how the correlations are being applied within the model. Once we can
derive single correlations from the term structure, is the next action to
understand how they are being applied and whether the model captures the P+L
volatility in the spread option deals.

From 0.4 onwards the VaR calculation failed.

Oliver


See new authorization forms attached below.  Deb

Deb Korkmas
EWS Legal Dept.
1400 Smith Street, Room 3819
Houston, TX  77002
Phone:  713-853-5448
Fax:  713-646-3393
----- Forwarded by Deb Korkmas/HOU/ECT on 03/02/2001 01:22 PM -----

	Geneva Holland/ENRON@enronXgate
	02/23/2001 05:25 PM

		 To: John Ale/HOU/AZURIX@AZURIX, Elizabeth Labanowski/ENRON@enronXgate, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marc Manly/HOU/EES@EES, Jordan
Mintz/ENRON@enronXgate, Kristina Mordaunt/Enron Communications@Enron
Communications, Eric Newell/EWC/Enron@ENRON, Janet Place/NPNG/Enron@ENRON,
Molly Sample/Houston/Eott@Eott, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Vicki Sharp/HOU/EES@EES,
Stephen Wallace/Corp/Enron@ENRON, Rob Walls/ENRON@enronXgate, Randy
Young/NA/Enron@Enron, Denise Almoina/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Martha Braddy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William E
Brown/ENRON@enronXgate, Sarah Bruck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt,
Cindy Buckley/LON/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Kim
Collins/HOU/EES@EES, Julie Delahay/EWC/Enron@ENRON, Rosy
Duron/ENRON@enronxgate, Carol Essig/ENRON@enronXgate, Nony
Flores/HOU/ECT@ECT, Brenda L Funk/ENRON@enronXgate, Lauren
Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Barbara Hankins/HOU/EES@EES, Ed
B Hearn III/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Robin Hill/Enron
Communications@Enron Communications, Gina Karathanos/ENRON@enronXgate, Sue
Kelly/LON/ECT@ECT, Deb Korkmas/HOU/ECT@ECT, Matt Maxwell/Corp/Enron@ENRON,
Darlene McKeever/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wyndel
McNamara/NA/Enron@ENRON, Stephanie Moorehead/HOU/EES@EES, Nancy
Muchmore/NA/Enron@Enron, Mary Ogden/HOU/ECT@ECT, Larry
Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Claudia Santos/Corp/Enron@Enron,
Tami Scrudder/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Norma
Tidrow/HOU/AZURIX@AZURIX
		 cc: Hardie Davis/ENRON@enronXgate, Rebecca Carter/Corp/Enron@ENRON, Lillian
Bailey/ENRON@enronXgate, Teresa Callahan/ENRON@enronXgate, Kate
Cole/ENRON@enronXgate, Irene Garcia/ENRON@enronXgate, LaShonda
LaDay/ENRON@enronXgate, Peggy Miller/ENRON@enronXgate, Lori
Pinder/ENRON@enronXgate, Renee Rodriguez/ENRON@enronXgate, Tanya
Sanford/ENRON@enronXgate
		 Subject: Corp Services Authorization Memos

Attached are 3 updated Word forms for requesting new US entities (Corp, LLC,
LP).  Unless you have access to our automated HotDocs system for requesting
Secretary of State corporate activities, please use the attached forms (and
delete data files for older versions).  Although these forms are not as user
friendly as our HotDocs templates, they have been conformed as nearly as
possible to the HotDocs forms, and are now as automated as MicroSoft Word
will allow.  I think you will find these a great improvement over our old
forms.  Please forward these new forms to anyone in your group who might need
to create a new domestic entity.

I continue work on HotDocs templates and Word forms for authorization of US
mergers, acquisitions, name changes, and for similar activities for non-US
entities, and will make those available to you ASAP.  In the meantime, if you
have any questions or comments regarding Corp Services forms, please contact
me via email or call me at Ext 37291.

Geneva K. Holland
Asst Secretary & Mgr Corp Svcs
(713)853-7291
EB4802


Read what independent analyst Charles Payne has to say about potential market
stimuli for the week.

We also feature a report from columnist Dave Sterman, who discusses Internet
stocks with momentum; among our featured analyst research, independent firm
123Jump.com examines Internet stocks with cash to spare.

Members can also take advantage of an opportunity to sign up for free reports
from Morgan Stanley and read about Web infrastructure firm Loudcloud (LDCL),
among others.

You can also link directly to our research page, which features synopses
of broker and free reports, by clicking here:
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Below
--------

- Investment ideas
- Broker and third-party research
- Online advice and chats
- Free and sponsored reports

Investment ideas
-----------------------------------------

1. INVESTMENT STRATEGIES
Stimulus is the key going forward
Investors themselves, and not any single outside force, may
generate a further market rally.

By Charles Payne, founder, CEO, and principal analyst, Wall Street Strategies

With Thanksgiving smack dab in the middle of the week, it was hard determining
what the market wanted to do or where investors' heads were at. After all, the
market seemed to be running on empty until the holiday-shortened Friday
session, when the market zoomed. Of course, sticking with the engine analogy,
nay-sayers will say that the market was just rolling downhill, benefiting from an
abbreviated session that saw lighter-than-normal volume. I would agree that
Fridays session wasnt an apples-to-apples comparison with regular sessions--it
was more like running a soapbox derby racer versus an open-wheel Indy-type
car that the market typically runs during a full session. According to those folks
that dont believe in the current market rally, Fridays results were amusing and
even entertaining, but of no enduring value.

It would be easy to write the session off as a day-race that held little value in the
grand scheme of things, but that would be a big mistake. In the soapbox derby,
gravity draws the homemade racers down a modest hill. The same could have
happened to stocks on Friday. Instead stocks climbed up that same modest hill.
Stocks defied both gravity and the naysayers by trading higher and higher as the
day went on. There is a message in that achievement: I think it tells us that when
left to its own devices, the market wants to rally higher. Sure, when there are
earnings reports, economic data, brokerage downgrades, wars, unemployment,
fear, and warnings from corporate America, the race becomes akin to handling a
high-performance race car and turning corners at 180 miles an hour. It isnt as
easy as it looks.

Click here to read more.
http://www.multexinvestor.com/article.asp?docid=4549&nd=1127

2. INVESTMENT IDEAS
Models of success?
Surviving Internet players have better business models, but share
prices may still be too high for some.

By Dave Sterman

In a few weeks, 2001 will come to a close, putting the wraps on a forgettable year
for the Internet sector. Many firms have already headed for bankruptcy, and other
weaker players are also expected to shutter operations later in the winter.

But investors are clearly focusing on the eventual winners in the Internet space,
as share prices for healthier companies have been soaring in recent weeks. This
week, we went looking for net stocks that are still growing and appear firmly in
the "survivor" category.

We specifically looked for Web-oriented companies that are boosting sales at a
heady clip. As the accompanying table shows, these stocks have also seen their
shares rise sharply, leading to the question: are they still a bargain?

Click here to read more.
http://www.multexinvestor.com/article.asp?docid=4547&nd=1127

WORD FROM OUR SPONSOR
--------------------------

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For most people, Social Security will only supplement retirement income, not
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Broker and third-party reports
-----------------------------------------

1. TODAY'S SPECIAL REPORT
Robertson Stephens reports on the current state of the nation's 4
regional bell operating companies.

A collective and individual take on BellSouth (BLS), Verizon (VZ),
Qwest (Q), and SBC (SBC) is provided, as well as investment conclusions.
Valuation, long-distance, DSL/data service, wireless, and competition are
discussed. (80-page report for purchase - $150)
http://www.multexinvestor.com/download.asp?docid=25610009&nd=1127

2. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
CIBC World Markets discusses its view of cable and satellite
television providers.

CIBC explains its positions on both the cable and satellite
sectors. It identifies its favorite cable company and one its finds
"increasingly interesting," and discusses the proposed EchoStar (DISH)/GM-
Hughes (GMH) merger. (21-page report for purchase - $75)
http://www.multexinvestor.com/download.asp?docid=25575286&nd=1127

3. WHAT'S HOT?
Prudential Securities explains why communications chip investors
should watch government spending.

In this report, a discussion of how new government spending trends could have
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companies as well as positive and negative scenarios are discussed. (4-page
report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=25557033&nd=1127

4. INVESTORS' CHOICE: 3-DAY FAVORITE
Standard & Poors profiles the NYSE's most capitalized company,
General Electric (GE).

S&P provides an overview, business summary, and industry outlook for GE.
Also included in the report, a peer group comparison, recent news headlines,
Wall Street analysts' consensus opinions, and S&P's fair value for
the stock. (5-page report for purchase - $5)
http://www.multexinvestor.com/download.asp?docid=407622&nd=1127

5. THIRD-PARTY REVIEW
123Jump.com makes the case for several cash-healthy Internet
stocks.

Five stocks are identified with strong growth potential in
addition to attractive cash positions at present. Caution is urged with regards to
companies with potentially high burn rates and unsustainable growth prospects.
(6-page report for purchase - $25)
http://www.multexinvestor.com/download.asp?docid=25536903&nd=1127

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To be sure you receive your TTA newsletter every week, click here:
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Online advice and chats
-----------------------------------------

1. ASK THE ANALYST
Market Edge's Tom Ventresca explains how to profit from industry group
analysis.

Ventresca discusses how Market Edge's proprietary Power Ratings system can
help you identify the strongest stocks in the strongest sectors. Can this system
boost your portfolio returns? You can pose him questions until Wed., Nov. 28.
Ask the analyst.
http://www.multexinvestor.com/AskTheAnalystForm.asp?&nd=1127

Register to receive a FREE weekly market commentary and FREE trial! Get
unbiased, computer generated BUY-HOLD-SELL opinions on 4,700 stocks and
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2. ASK THE EXPERT
American Century Investment's Karen Burnett talks about choosing a retirement
plan for your business.

Choosing a retirement plan for your business or yourself is one of the most
important financial decisions you will make. Karen Burnett of American Century
Investments will take your questions until Thurs., November 29.
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3. TONIGHT'S LIVE EVENT
Chat LIVE TONIGHT at 8:00pm ET and learn about creating your own private
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Tonight at 8:00pm ET, Scott Tiras, senior financial advisor and certified financial
planner with American Express Financial Advisors, will answer your questions
about creating your own private pension.  Click here
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Free and sponsored reports
-----------------------------------------

1. FREE RESEARCH REPORT
Robert Baird & Co. takes a look at the business process outsourcing industry.

Baird analysts provide an update on developments among financial processing
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2. DAILY FREE SPONSOR REPORT
Morgan Stanley sets a $6 price target on Web infrastructure solutions maker
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trial to access research on this and other stocks.
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and The Telecomm Analyst by Multex.com. The newsletters will
inform, educate, and entertain you with usable investment data,
ideas, experts, and info about the Internet and telecommunications
sectors. To see this week's issue,
click here:
http://www.thetelecommanalyst.com/ or
http://www.theinternetanalyst.com/


Just wanted to send my congratulations.  I know that you really deserve this
promotion.

Good Luck

Mary


I have created the following new Product Types in the Data Manager:

AUS CDD Swap
AUS HDD Swap
JPN CDD Swap
JPN HDD Swap

These are exactly the same as the existing AUS and JPN Weather Swap Product
Types which you have previously approved with the exception that they have
been created with the trading entity as Enron North America and will be
denominated in USD. The intention is to give the seperate Weather desks the
ability to transact weather around the clock. The transactions will be
denominated in the domicile currency, thereby avoiding dual taxation
consequences.

Please go into the DataManager and offer your respective approval.

Dale


Hi Stuart,

I'm home sick (and with my sick son) again today, but wanted to get this to
you.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/26/2000 10:13
AM ---------------------------

"FAYE STEDMAN" <STEDF@andrews-kurth.com> on 10/25/2000 07:56:01 PM
To: <kay.mann@enron.com>
cc: "PAUL PIPITONE" <PIPIP@andrews-kurth.com>

Subject: ABB Transformer Purchase and Sale Agreement

Attached please find a clean copy of the ABB Transformer Purchase and Sale
Agreement as well as a blackline to show changes made from the WESTLB/ABB
Agreement.  Sorry for the delay in getting this to you. We have had to delete
the table of contents from the clean version in order to get this to you in a
timely fashion.  A completed version will be forthcoming sometime tomorrow.

If you have any questions or comments, please contact me at (202) 662-2780.

 - WESTLB-ABBblk.doc
 - WEST-LB-ABBcln.DOC


- CALPINE MONTHLY GAS NOMINATION___.doc


tease colts +4 under 48 250

   tease colts +4 over 36 250

   tease miami +8 under 48 250

   tease miami +8 over 36 250

st louis minus 6 1/2 250


This is an FYI. Thought you should see what they are pursuing along the same
lines as our GRM activities. Meeting with Inho for lunch on Friday. Per
---------------------- Forwarded by Per Sekse/NY/ECT on 03/14/2001 10:04 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Choi, Inho" <ichoi@lehman.com>                           03/12/2001
04:11 PM

To: "'psekse@ect.enron.com'" <psekse@ect.enron.com>
cc:
Subject: Opportunities

Per,

I have over the past few weeks been involved in different transactions that
have led me to seek you to try and develop opportunities for Lehman and
Enron to work together.  Generally, my group here at Lehman (the Insurance
Products Group - "IPG") has become more involved with our investment bankers
in trying to find insurance/alternative solutions to assist clients (e.g.,
balance sheet cleansing, earnings smoothing, specific contingency insurance,
weather, etc.).  As a result of this dialogue, we have received very
positive responses from bankers/clients - specifically, two opportunities I
would like to discuss with you are 1) hedging of commodity risk for earnings
smoothing (e.g., OCC, ONP, etc.) and 2) purchasing claims against insolvent
insurance companies.  The third opportunity that I would like to discuss
with you relates to a recent insurance placement that my group did for a
hydrocarbon royalty securitization.  Although the insurance was limited to
currrency inconvertibility risk, I have spoken to a number of insurers that
were very interested in providing credit enhancement on these type of future
flow/asset transactions.  I understand that you are heading this effort as
well within Enron.

I apologize if this email if verbose, but I think there are good
opporunities here for us both.  Please give me a call at 212-526-9525 at
your earliest convenience.  Thanks.

Regards,

Inho

------------------------------------------------------------------------------
This message is intended only for the personal and confidential use of the
designated recipient(s) named above.  If you are not the intended recipient
of this message you are hereby notified that any review, dissemination,
distribution or copying of this message is strictly prohibited.  This
communication is for information purposes only and should not be regarded as
an offer to sell or as a solicitation of an offer to buy any financial
product, an official confirmation of any transaction, or as an official
statement of Lehman Brothers Inc.  Email transmission cannot be guaranteed to
be secure or error-free.  Therefore, we do not represent that this
information is complete or accurate and it should not be relied upon as
such.  All information is subject to change without notice.


---------------------- Forwarded by Angela Barnett/HOU/ECT on 12/12/2000
11:53 AM ---------------------------

Deb Pepple <dpepplejes@netscape.net> on 12/08/2000 02:58:17 PM
To: Angie Barnett <angela.barnett@enron.com>, Cinda Beggs <Ckbeggs@aol.com>,
Karla Funnell <jimmie4ever@aol.com>, Leo and Sal Harris <lsharis@msn.com>,
Donna Hixon <dhixonhhe@netscape.net>, Laurie Lauer
<jakenlaneysmom@hotmail.com>, Jan Secor <JCsdaughter19@cs.com>, Marcia Tuskey
<NDFan-Ref@worldnet.att.net>, <bmetcalf863@earthlink.net>, <the.hen@gte.net>
cc:
Subject: Fwd: [The]

____________________________________________________________________
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And God said, "Let the earth bring forth grass, the herb yielding
seed, and the fruit tree yielding fruit," and God saw that it was
good.

And Satan said, "There goes the neighborhood."

And God said, "Let us make Man...

And so God created Man in his own image; male and female created
he them. And God looked upon Man and Woman and saw that they were lean
and fit.

And God populated the earth with broccoli and cauliflower and
spinach, green and yellow vegetables of all kinds, so Man and Woman
would live long and healthy lives.

And Satan said, "I know how I can get back in this game."

And Satan created McDonald's. And McDonald's brought forth the
99-cent double cheeseburger.

And Satan said to Man, "You want fries with that?"

And Man said, "Supersize them." And Man gained 5 pounds.

And God created the healthful yogurt, that woman might keep her
figure that man found so fair.

And Satan brought forth chocolate. And Woman gained 5 pounds.

And God said, "Try my crispy fresh salad."

And Satan brought forth Ben and Jerry's. And Woman gained 10
pounds.

And God said, "I have sent thee heart-healthy vegetables and olive
oil with which to cook them."

And Satan brought forth chicken-fried steak so big it needed its
own platter.

And Man gained 10 pounds and his bad cholesterol went through the
roof.

And God brought forth running shoes and Man resolved to lose those
extra pounds.

And Satan brought forth cable TV with remote control so Man would
not have to toil to change channels between ESPN and ESPN2. And Man
gained another 20 pounds.

And God said, "You're running up the score, Devil."

And God brought forth the potato, a vegetable naturally low in fat
and brimming with nutrition.

And Satan peeled off the healthful skin and sliced the starchy
center into chips and deep-fat fried them. And he created sour cream
dip also.

And Man clutched his remote control and ate the potato chips swaddled
in cholesterol.

And Satan saw and said, "It is good." And Man went into cardiac
arrest.

And God sighed and created quadruple bypass surgery.

And Satan created HMO's.


----- Forwarded by David M Gagliardi/TTG/HouInd on 05/23/01 10:15 AM -----

                    "Michael
                    Gagliardi"           To:     <dgagliardi@reliantenergy.com>, david_ricks@gsdm.com,
                    <mikegag@msn.        tony.a.rogers@fritolay.com
                    com>                 cc:
                                         Subject:     Fw: True Orange E-Mail/Fas #52
                    05/23/01
                    10:06 AM

 ----- Original Message -----
 From: TruOrange@aol.com
 Sent: Tuesday, May 22, 2001 10:39 PM
 To: TruOrange@aol.com; judy.roach@bakerbotts.com
 Subject: True Orange E-Mail/Fas #52

 True Orange Fax/E-Mail Service
 Volume 9, Fax/E-Mail #52, Tuesday, May 22, 2001
 Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
 Phone=
 =20
 512-795-8536

 Barnes Hires New Assistant; Summer Football Camps Start Next Week

 Texas basketball coach Rick Barnes announced Tuesday he has hired South=20
 Carolina assistant coach Frank Haith to replace Rob Lanier as one of his
 top=
 =20
 assistants.
 The 35-year-old Haith, who joined coach Dave Odom's staff at South
 Carolina=20
 on April 16 after spending the past four seasons under Odom at Atlantic
 Coas=
 t=20
 Conference member Wake Forest, will begin his post at Texas immediately.
 =20
 Haith assumes the post vacated by Lanier, who left the Texas coaching
 staff=20
 on April 18 to take the head coaching position at Siena College.
 While at Wake Forest, Haith was instrumental in leading the Demon Deacons
 to=
 =20
 four consecutive postseason tournament appearances, including an NCAA
 First=20
 Round showing last season.  He also helped Wake Forest secure one of
 the=20
 nation's Top 10 recruiting classes during the 1999-2000 campaign.=20
 "In Frank Haith, we have hired one of the top assistant coaches in the=20
 nation,"  Barnes said.  "He came very highly recommended from many of
 the=20
 high school coaches in the state of Texas and around the nation.  Frank
 also=
 =20
 brings a great deal of familiarity with coaching and recruiting in this
 area=
 =20
 of the country.  There is no question that it is just a matter of time
 befor=
 e=20
 he becomes a head coach at this level."
 Prior to joining the staff at Wake Forest, Haith served one year as the=20
 associate head coach at Texas A&M (1996-97).  He spent one season
 (1995-96)=20
 as an assistant coach at Penn State, helping the Nittany Lions to a
 21-7=20
 overall record.  During the year, Penn State was ranked as high as ninth
 in=20
 the national polls before placing second in the Big Ten Conference=20
 regular-season standings and earning the school's first NCAA Tournament
 bid=20
 in 31 years.
 "I am extremely excited about the opportunity to coach at The University
 of=20
 Texas," Haith said.  "There were two things that proved to be the key
 factor=
 s=20
 in my decision to come to Austin.  One is the opportunity to work for
 Rick=20
 Barnes.  And second, having worked in College Station for four years, I
 know=
 =20
 the potential that exists in Austin.  The Texas program is one that can
 win=20
 the National Championship."
 * * * *
 ILB Aaron Harris of Mesquite, RB Albert Hardy of Galena Park, DE Travis=20
 Leitko of The Woodlands and C Bob Morton of McKinney have at least two
 thing=
 s=20
 in common. They are the state's best players at their respective
 positions=20
 and they have already achieved qualifying scores on the SAT.
 Morton is committed to Texas A&M. Hardy favors Texas very strongly, and=20
 Harris and Leitko are considering several schools, including UT.
 This is a year when many of the top junior recruits have awesome test
 scores=
 .=20
 OL Josiah Vinson of Irving has a 1,500 SAT score and Leitko and Morton are
 i=
 n=20
 the 1,400 range.
 Unfortunately, it's also a year when many of the super recruits will wind
 up=
 =20
 having to go to the junior college ranks unless they sign with Oklahoma.
 Two=
 =20
 top  Sooner recruits from Texas are full qualifiers now and they were
 about=20
 300 points away from qualifying when they signed back in February.
 Coach Mack Brown and his assistants might seem to be starting a little
 bit=20
 slow in recruiting this year, but they actually are right on schedule.
 June=20
 is summer camp month at Texas and it's also when the Longhorn coaches
 start=20
 racking up pledges from top recruits. They have been doing it ever since
 the=
 y=20
 got here, and they will do it again this year. Look for the Horns to get
 at=20
 least five or six top commitments next month.
 The summer camps start one week from Saturday, so get ready for some
 hot=20
 recruiting news.
 * * * *
 My next e-mail/fax will be whenever events warrant.
 * * * *
 The True Orange Fax Service includes  at  least  99 fax/e-mails  a year
 and=20
 costs $99 ($79 by E-Mail). The True Orange Newsletter includes  26
 newslette
 rs and is published weekly during football season and twice monthly
 during=20
 most of the other months. It costs $45. Save by subscribing to both for
 $130=
 =20
 (or $110 if you take the faxes via E-Mail  or $99 if you take the faxes
 and=20
 newsletter  via E-Mail). Send check  to address at the top of page. I also
 =20
 update my 900 number =E2=80=93 1-900-288-8839 =E2=80=93 frequently with
 recr=
 uiting news. My=20
 E-Mail address is: truorange@aol.com

Get your FREE download of MSN Explorer at http://explorer.msn.com


Please check with John on a later date. By copy of this e-mail, I will ask Stephanie to get alternate dates from you, John,Me, and Jim McCartney and to take the lead on the scheduling. If no other date works, we will go the week of the 16th.

Also- I need you to give dates to Stephanie for the meeting w/me and Mark re your travel schedule.She will take the lead on this one also.

Finally--- I talked to Julia Murray about FCPA training that you were going to do for her group. I think this would be  good PR for you. Please do whatever you can to get them a firm date.

 -----Original Message-----
From: 	Michelle Blaine
Sent:	Tuesday, May 29, 2001 1:55 PM
To:	Richard B Sanders
Subject:	RE: South America

Richard I think the week after that, John wanted to take vacation.  Maybe we should try for the first week in August.  Its winter in South America and it will be a good break from the heat.  I'll check with John.  Otherwise we could do Tuesday- Friday that week of the 16th? That may be tough just returning from vacation.

 -----Original Message-----
From: 	Sanders, Richard
Sent:	Monday, May 28, 2001 2:37 PM
To:	Blaine, Michelle
Subject:	Re: South America

I have left a message for Jim. I will be getting back from working a week in the Portland office on Sunday, so we would have to leave on Monday. Are any other weeks after that good?

	Michelle Blaine/ENRON@enronXgate 05/27/2001 10:49 PM	   To: Richard B Sanders/HOU/ECT@ECT  cc:   Subject: South America

Hi Richard,
How about the week of July 16-17?  That works for Novak and me.  I'll make an agenda.  Please check with Jim.

  Rgds,
      Michelle


Beginning in 2001, Enron will include Martin Luther King, Jr. Day as one of
our 11 official holidays for U.S. employees.  Martin Luther King, Jr. is one
of our nation's most remarkable heroes, and we want to honor his tremendous
contributions to our history by observing his holiday.

Next year, Martin Luther King, Jr. Day falls on Monday, January 15.  See the
holiday schedule below for a list of other holidays that Enron will observe
in 2001.

2001 Holiday Schedule

Monday	January 1	New Year,s Day
Monday	January 15	Martin Luther King Day
Monday	February 19	President,s Day
Monday	May 28	Memorial Day
Wednesday	July 4	Independence Day
Monday	September 3	Labor Day
Thursday	November 22	Thanksgiving Day
Friday	November 23	Thanksgiving Observance
Monday	December 24	Christmas Observance
Tuesday	December 25	Christmas Day
Discretionary Day

Days designated Observance are floating holidays set by Enron for the year.
A Discretionary Day may be taken as a holiday on any work day with the
supervisor,s prior approval.  When used, it must be designated on payroll
records for that pay period; depending on the State where employed, an unused
discretionary holiday may be forfeited at year end.  For more information*
especially concerning holiday pay for employees who work other than the
standard, 8-hour, 5-day work week*please refer to HR policy #12 (Work Hours,
Holidays, Vacation) or contact your HR representative.


I just changed the rate on Algon/transport usage deal 233358 from $.26 to
$.0206.  We should get back 155,000 x $.2394 == $37,000 tonight.


Sorry for the late notice, but the cluster of people in suits are UO MBA students who are visiting our office to learn more about Enron.

Happy Friday the 13th!


See attached.

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com


FYI, Sally is getting an ear full today from the RAC group about
unofficialized post id's.  We run a macro every night to verify these are
officialized.  I just want to remind everyone that this is very important
that we do this.  Our group and Jeff will catch tremendous heat if these
errors continue.  Again, this is just a reminder, we are doing a good job on
this currently.  Thanks.
PL


Enron in Action can be accessed through the new Community Relations web site at http://cr.enron.com/eia.html .  In this week's issue you will find out information regarding:

Enron Happenings
BEAR Holiday Fundraiser
2001 Holiday Shopping Card benefiting the American Cancer Society
Enron Kids 2001 Holiday Program
Support the Museum of Natural Science at the Crate & Barrel Opening Night Preview Party
Enron Night with the Houston Aeros
Free Carwashes for Enron Employees
American Heart Association "Heart Walk"

Enron Volunteer Opportunities
Volunteer for the 2001 Nutcracker Market "A World of Holiday Shopping"

Enron Wellness
CPR/First Aid Training
Mammogram Screening
November is Lung Cancer Awareness Month

Involved Employees
Par "Fore" Pets Golf Tournament

In addition, Enron in Action is available through a channel on my.home.enron.com.  To add this channel to your set-up click on the channels link at the top of the screen and under announcements check the Enron in Action box.

If you wish to add an announcement to Enron in Action, please fill out the attached form below and submit it to mailto:eia@enron.com no later than 12 PM Thursday each week.


The attached word document is the CPUC confidentiality proposal referred to
in the previous e-mail referencing the CPUC Supoena deadline.

To Market Participants and Scheduling Coordinators

Attached please find the CPUC Legal Division Staff Draft of a
Confidentiality Proposal.

Jeanne M. Sol,
Regulatory Counsel
California ISO
(916) 608-7144
____________________________________________________________________________
_______________________________________

The Foregoing e-Mail Communication (Together With Any Attachments Thereto)
Is Intended For The Designated Recipient(s) Only. Its Terms May Be
Confidential And Protected By Attorney/Client Privilege or Other Applicable
Privileges.  Unauthorized Use, Dissemination, Distribution, Or Reproduction
Of This Message Is Strictly Prohibited.

 - 7-25CPUCconfidentiality proposal.doc


Mike:
Could you please leave me a quick e-mail letting me know where things stand
with respect to your review of the comments that I faxed to you as my credit
people have been asking about it?  Thanks.

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


FYI.  Let Dave Perrino or I if you are particularly interested in commenting or tracking this WSCC-led process of revising ATC determination.
 -----Original Message-----
From: 	Alvarez, Ray
Sent:	Monday, July 23, 2001 11:59 AM
To:	Comnes, Alan; Walton, Steve; Perrino, Dave
Subject:	Due Process Review - ATC Methodology Document

FYI.  Ray
---------------------- Forwarded by Ray Alvarez/NA/Enron on 07/23/2001 02:57 PM ---------------------------

elder@wscc.com on 07/23/2001 12:25:16 PM
Please respond to ELDER@wscc.com
To:	WSCC@webserv.wscc.com, STANDARDS@webserv.wscc.com, ANNOUNCEMENT@webserv.wscc.com
cc:

Subject:	Due Process Review - ATC Methodology Document

WSCC STANDARDS CORRESPONDENTS
OPERATIONS COMMITTEE AND
    OC SUBCOMMITTEES
PLANNING COORDINATION COMMITTEE AND
    PCC SUBCOMMITTEES

In accordance with the WSCC "Process for Developing and
Approving WSCC Standards," the "Determination of Available
Transfer Capability Within The Western Interconnection" document
has been posted for comment on the WSCC Web Site
(http://www.wscc.com/files/atcmethd.pdf).  Please provide any
comments by September 24, 2001.  Comments should be made
via e-mail to standards@wscc.com.

<Embedded Picture (Device Independent Bitmap)>


Yes I am!  Let me know what time you are available and where you are this
week and I will pick an appropriate location.   G$ and Nacious E are
available.

You need a nickname too.  Let's ponder this one and submit ideas.

Ryan.F.Ruppert@EXXON.sprint.com on 02/24/2000 09:13:20 AM
To: Gerald.Nemec@enron.com
cc:
Subject: RE: What up?

         Date: February 24, 2000
         From: Ruppert, Ryan F.                            R9RUPPE  - AMERICAS
           To: EXT-GERALD.NEMEC(A)ENRON.COM,               GERALDNE - FPEXMAIL
      Subject: RE: What up?
------------------------------------------------------------------------------
Are you speaking of a couple of wild and krazy guys?????

Let's do lunch on Friday.  Pick a spot and we'll lock it down.

RYAN F. RUPPERT
Geophysical User Support
Upstream Technical Computing
ExxonMobil Corporation

-----Original Message-----
From: EXT-GERALD.NEMEC(A)ENRON.COM,
Sent: Wednesday, February 23, 2000 4:49 PM
To: Ruppert, Ryan F.
Subject: RE: What up?

True.  Especially after I cut E's fat plump rump roast with my dive knife
to chum the waters a little.  Let's shoot for Friday for lunch.  Maybe I go
back to work after that or maybe I don't.  No other three Czech brothers
can cruise so successfully in tight slacks!

Things are going well with little Cynthia.  She is really fun and easy to
talk to.  I am not sure what my intentions are right now but we enjoy each
others company.

Ryan.F.Ruppert@EXXON.sprint.com on 02/23/2000 01:34:52 PM

To:   Gerald.Nemec@enron.com
cc:
Subject:  RE: What up?

         Date: February 23, 2000
         From: Ruppert, Ryan F.                            R9RUPPE  -
AMERICAS
           To: EXT-GERALD.NEMEC(A)ENRON.COM,               GERALDNE -
FPEXMAIL
      Subject: RE: What up?
------------------------------------------------------------------------------

I too, am somewhat hesitant about those large toothed critters, although
I'm
sure they'd much rather chomp into Eric's ass-steak rather than my boney
carcass.  I figure if everyone else does it why shouldn't we?

As for lunch, I'd like to get together although we break for lunch around
11
over here and that's more like breakfast for you fat-cat lawyer-types.  I'm
down here all week, so let me know if you want to try for something.  Maybe
Friday would be fun?  I'd have a lot more flexibility in my schedule on
that
day.

Looks like Saturday is "pay your friend-dues day" at the Gillaspie Ranch.
Seems like all I do is move his ass.  All I know is that he better keep us
well hydrated.

Anywho, what's up with you and the little lady?  She seemed really
together.
Hope things are progressing well--if that's your intentions.

Audi 5000,
Ryan

RYAN F. RUPPERT
Geophysical User Support
Upstream Technical Computing
ExxonMobil Corporation

-----Original Message-----
From: EXT-GERALD.NEMEC(A)ENRON.COM,
Sent: Wednesday, February 23, 2000 2:19 PM
To: Ruppert, Ryan F.
Cc: EXT-ERIC.GILLASPIE(A)ENRON.COM,
Subject: Re: What up?

Sounds like a good trip if there are spaces available.  I think our dive
captain is checking availability.  Of course our dive captain is also
hesitant about being swallowed whole by a Whale Shark.  I told him that
with a house to remodel that would probably be a blessing.

Let us know what your schedule is.  See if we can't hook up Thursday or
Friday for lunch.  I open and I am sure Nacious E would be too.

Ryan.F.Ruppert@EXXON.sprint.com on 02/23/2000 09:54:03 AM

To:   Eric.Gillaspie@enron.com, Gerald.Nemec@enron.com
cc:
Subject:  What up?

         Date: February 23, 2000
         From: Ruppert, Ryan F.                            R9RUPPE  -
AMERICAS
           To: EXT-ERIC.GILLASPIE(A)ENRON.COM,             ERICGILL -
FPEXMAIL
               EXT-GERALD.NEMEC(A)ENRON.COM,               GERALDNE -
FPEXMAIL
      Subject: What up?
------------------------------------------------------------------------------

Hey you hosers, what's up with swimming with the fishys?  Are we going to
check out those hammerheads or what?

Sorry about the mix up on lunch yesterday.  Let me know if you want to try
again.

OUT

RYAN F. RUPPERT
Geophysical User Support
Upstream Technical Computing
ExxonMobil Corporation


Tim,

In Oct 2001 I produced the attached reports for Michael Paine. I hope these
are helpful.

Mark


2:45 Houston time is fine for me.
Also, the Trading Limitation language is NOT intended to kick in for intraday
limit moves but only at the end of the day (i.e., "closing or settlement
price").  We want the language to remain the same.  Hope this works.  Sara

"Yaish, Yair (OGC)" <YYaish@exchange.ml.com> on 03/16/2001 02:15:26 PM
To: "'kpolozie@mwe.com'" <kpolozie@mwe.com>
cc: Janice.R.Moore@enron.com, sshackl@enron.com, TeiglandL@sullcrom.com,
gilbergd@sullcrom.com, ppantano@mwe.com, rpaul@mwe.com, daron@mwe.com,
darezina@mwe.com
Subject: RE: Revised Transfer and Assumption Agreement

Can we have a call at 3:45 p.m. to see where we all are at and hopefully wrap
up all issues on the agreements?  Thanks

Yair Yaish
Merrill Lynch (OGC)
212-449-2456
yyaish@exchange.ml.com

> -----Original Message-----
> From: kpolozie@mwe.com [SMTP:kpolozie@mwe.com]
> Sent: Friday, March 16, 2001 2:49 PM
> To: Yaish, Yair (OGC)
> Cc: Janice.R.Moore@enron.com; sshackl@enron.com; TeiglandL@sullcrom.com;
gilbergd@sullcrom.com; ppantano@mwe.com; rpaul@mwe.com; daron@mwe.com;
darezina@mwe.com; McMurray, Locke (OGC)
> Subject: RE: Revised Transfer and Assumption Agreement
>
>
>
> Ladies and Gentlemen:
>
> Please wait until I send a revised version that breaks out the signature
page.
> I will send the revised version shortly.  Thank you.
>
> Best regards,
>
> Kate
>
> Katarina B. Polozie
> McDermott, Will & Emery
> kpolozie@mwe.com
> (202) 756-8130
>
>
>
>
>
>
>
> "Yaish, Yair (OGC)" <YYaish@exchange.ml.com> on 03/16/2001 02:44:38 PM
>
>
>
>
>
>
>
>
>  To:      Katarina B Polozie/DC/MW&E@MW&E,
>           Janice.R.Moore@enron.com, sshackl@enron.com,
>           TeiglandL@sullcrom.com, gilbergd@sullcrom.com
>
>  cc:      Paul Pantano/DC/MW&E@MW&E, Robert
>           Paul/DC/MW&E@MW&E, David E Aron/DC/MW&E@MW&E,
>           Dianne W Arezina/DC/MW&E@MW&E, "McMurray, Locke
>           (OGC)" <LMcMurray@exchange.ml.com>
>
>
>
>  Subject: RE: Revised Transfer and Assumption Agreement
>
>
>
>
>
>
>
> Hi all.  Can we agree on the signature pages, break them out and prepare
them
> for execution?
>
> Yair Yaish
> Merrill Lynch (OGC)
> 212-449-2456
> yyaish@exchange.ml.com
>
> > -----Original Message-----
> > From:   kpolozie@mwe.com [SMTP:kpolozie@mwe.com]
> > Sent:   Friday, March 16, 2001 2:11 PM
> > To:     Janice.R.Moore@enron.com; sshackl@enron.com;
TeiglandL@sullcrom.com;
> gilbergd@sullcrom.com; yyaish@exchange.ml.com; lmcmurray@exchange.ml.com
> > Cc:     ppantano@mwe.com; rpaul@mwe.com; daron@mwe.com; darezina@mwe.com
> > Subject:     Revised Transfer and Assumption Agreement
> >
> >
> >
> > Ladies and Gentlemen:
> >
> > Attached please find the revised Transfer and Assumption Agreement.  I
have
> > enclosed both a clean version and a version showing changes from the
latest
> > version you received last night.  Please call me with any questions or
> comments.
> >
> > Best regards,
> >
> > Kate Polozie
> >
> > Katarina B. Polozie
> > McDermott, Will & Emery
> > kpolozie@mwe.com
> > (202) 756-8130
> >
> >
> > (See attached file: WDC99_406266_1.DOC)
> >
> > (See attached file: WDC99_406261_1.DOC)
> >
> >
> >
>
******************************************************************************
*******
>
> >
> > This message is a PRIVATE communication.   If you are not the intended
> > recipient, please do not read, copy, or use it, and do not disclose it to
> > others.  Please notify the sender of the delivery error by replying to
this
> > message, and then delete it from your system.  Thank you.
> >
>
******************************************************************************
*******
>
> >
> >
> > For more information on McDERMOTT, WILL & EMERY please visit our website
at:>
> > http://www.mwe.com/ << File: Mac Word 3.0 >>  << File: Mac Word 3.0 >>
>
>
>
>


All,

I told Mike Tully that I was here last nite when RT couldn't run the report,
but I could from my desk.  I explained to him the problems your group has
been having with this report.  I'm going to see if the RT guys (Monica and
Collin) can run a report today (per Mike's suggestion - to see if it's
possibly a day/nite thing).   I told Mike we'll monitor this prob for a while
to see if it gets better or worse.  In the interim, it's important to send an
email to Dave Poston and Mike Tully (and copy me)everytime you have trouble
running or printing the report.   Please be as specific as possible in your
emails.  It sounds like it may be hard to pinpoint the cause of these
problems, so I want to start accumulating as much documentation as possible
for support.
---------------------- Forwarded by D Brett Hunsucker/HOU/ECT on 11/30/2000
09:46 AM ---------------------------

Michael Tully
11/30/2000 08:46 AM
To: David Poston/PDX/ECT@ECT, D Brett Hunsucker/HOU/ECT@ECT
cc:
Subject: Re: EnPower to PX Report

Ran This Morning Fine Twice

Michael Tully

David Poston
11/30/2000 07:00 AM
To: Michael Tully/PDX/ECT@ECT
cc:

Subject: EnPower to PX Report

There were some problems with the server last night (r: drive).  Can you
rerun the report and see if it works now?  The report is pulling Oracle data
from Enpower which works fine but it seems to have an issue finding the
caps.mdb.  It must be an infrastructure problem.

Thanks, Poston

---------------------- Forwarded by David Poston/PDX/ECT on 11/30/2000 07:05
AM ---------------------------

Jesse Bryson
11/30/2000 01:45 AM
To: David Poston/PDX/ECT@ECT
cc: D Brett Hunsucker/HOU/ECT@ECT

Subject: EnPower to PX Report

The Enpower to PX Report is not pulling in the Caps deals.  The enpower part
is fine but there is nothing for caps. We obviously have a huge variance when
this occurs.......  Do you have any idea what might be causing this error?

Cheers
Jesse


Would it help if I faxed you the 'you will have your card in 2 weeks' note they just gave me?


Just to follow up, where are we vis-a-vis getting prepared for the No Action
Relief application?

I assume we do not need this for Phase 2.


---------------------- Forwarded by Mary Hain/HOU/ECT on 12/18/2000 08:41 AM
---------------------------

Mary Hain
12/17/2000 05:20 PM
To: Don Black/HOU/EES@EES, Dennis Benevides/HOU/EES@EES, Neil
Bresnan/HOU/EES@EES, Jubran Whalan/HOU/EES@EES, James E Keller/HOU/EES@EES,
Vicki Sharp/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Steven J
Kean/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mark
Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Sarah
Novosel/Corp/Enron@ENRON, Ginger Dernehl/NA/Enron@Enron, Susan J
Mara/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Paul
Kaufman/PDX/ECT@ECT, William S Bradford/HOU/ECT@ECT, Mark E
Haedicke/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Kathryn
Corbally/Corp/Enron@ENRON, David W Delainey/HOU/ECT@ECT, Greg
Whalley/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Marty Sunde/HOU/EES@EES,
Mark Frevert/NA/Enron@Enron, Mark Koenig/Corp/Enron@ENRON, Paula
Rieker/Corp/Enron@ENRON, gfergus@brobeck.com, sbishop@gibbs-bruns.com, Tom
Alonso/PDX/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Jim
Buerkle/PDX/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Dave Parquet, Paul
Choi/SF/ECT@ECT, Ed Clark/PDX/ECT@ECT, Stanley Cocke/PDX/ECT@ECT, Sean
Crandall/PDX/ECT@ECT, Terry W Donovan/HOU/ECT@ECT, Michael
Etringer/HOU/ECT@ECT, Mark Fischer/PDX/ECT@ECT, John M Forney/HOU/ECT@ECT,
Chris H Foster/HOU/ECT@ECT, Dave Fuller/PDX/ECT@ECT, Jim Gilbert/PDX/ECT@ECT,
Don Hammond/PDX/ECT@ECT, Tim Heizenrader/PDX/ECT@ECT, Karen E
Jones/HOU/ECT@ECT, Holli Krebs/HOU/ECT@ECT, Alan Larsen/PDX/ECT@ECT, Elliot
Mainzer/PDX/ECT@ECT, Chris Mallory/PDX/ECT@ECT, John Malowney/HOU/ECT@ECT,
Wayne Mays/PDX/ECT@ECT, Marcie Milner, Matt Motley/PDX/ECT@ECT, Tracy
Ngo/PDX/ECT@ECT, Murray P O'Neil/HOU/ECT@ECT, Jeffrey Oh/PDX/ECT@ECT, Todd
Perry/PDX/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, Lester Rawson/PDX/ECT@ECT,
Jeff Richter/HOU/ECT@ECT, Stewart Rosman/HOU/ECT@ECT, Diana
Scholtes/HOU/ECT@ECT, Jeff Shields/PDX/ECT@ECT, Jeff G Slaughter/PDX/ECT@ECT,
Chris Stokley/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT, Jake Thomas, Stephen
Thome/HOU/ECT@ECT, Frank W Vickers/HOU/ECT@ECT, Kim Ward/HOU/ECT@ECT, Laura
Wente/HOU/ECT@ECT, Greg Wolfe@ECT, Christian Yoder/HOU/ECT@ECT
cc:
Subject: Summary of FERC's 12- 15 order on California Markets


Congratulations on getting the ROW extension with the Navajo Nation executed.  It was a long arduous process, but a job well done.

Thank you!

Stan


Robert,

This is to confirm the meeting on March the 20th at 9:00 a.m. Enron will be
represented by
Bill Bradford, Bryan Seyfried,,Vasant Shanbhogue and myself.

Could you, please, advise me what is the best hotel where we could stay
overnight,
close to your location?

Vince Kaminski
ENRON  Corp.
1400 Smith Street, Room 1962
Houston, TX 77251-1188
Phone: (713) 853 3848
Fax  :     (713) 646 2503
E-mail: vkamins@enron.com


[IMAGE]

   [IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE]       [IMAGE]   [IMAGE]   [IMAGE]   [IMAGE]   [IMAGE]     	 [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE]          Updated: Oct. 1, 2001     [IMAGE]      [IMAGE]   [IMAGE]    [IMAGE] [IMAGE] [IMAGE]           Electric industry may lead pack in disaster safeguards  Massoud Amin, a mathematician with EPRI, was attending a disaster risk management workshop outside Washington, D.C., Sept. 11 when pagers and cell phones began going off in the room... [IMAGE] [IMAGE]         [IMAGE]     [IMAGE] [IMAGE]       [IMAGE]      [IMAGE] [IMAGE]   [IMAGE]           [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]            [IMAGE]             [IMAGE] [IMAGE]   [IMAGE]            [IMAGE]   [IMAGE]           [IMAGE] [IMAGE]             [IMAGE] [IMAGE]   [IMAGE]          [IMAGE] [IMAGE]     [IMAGE]       Reliant buys Orion: Precursor to more deals? IPPs as a whole have fallen out of investor favor  Market has punished even most stellar players   [IMAGE] [IMAGE]        [IMAGE]   [IMAGE]   [IMAGE] [IMAGE]             [IMAGE] [IMAGE]             [IMAGE] [IMAGE]     [IMAGE]       Deregulation sends EU energy prices soaring Surveys reveal extent of gas, electric deregulation  Norway hit hardest by price increases   [IMAGE] [IMAGE]        [IMAGE]  [IMAGE]    [IMAGE] [IMAGE]             [IMAGE] [IMAGE]             [IMAGE] [IMAGE]     [IMAGE]       UK gives wave energy a boost Investigating offshore potential  New project ready by summer 2002   [IMAGE] [IMAGE]        [IMAGE]   [IMAGE]   [IMAGE] [IMAGE]             [IMAGE] [IMAGE]             [IMAGE] [IMAGE]   Governors say states should lead in regional energy policy full story...   General Dynamics receives first-of-its-find fuel cell from Acumentrics full story...   Home Depot implements energy conservation information campaign full story...   Dominion plans $600 million power station in N.C. full story...   Baker Hughes-U.S. rig count down 18, Canada down 14 full story...   GPU, FirstEnergy extend merger termination date full story...   FERC approves Energy East-RGS deal full story...   Davis calls special legislative session for Oct. 9 full story...   FERC agrees to alter basis for buying, selling power full story...   California faces deficit depending on when bonds sold full story...   To view all of today's Executive News headlines,  click here               [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE]         [IMAGE] [IMAGE]  Copyright ? 2001 - Platts, All Rights Reserved   [IMAGE]   Market Brief   Friday, September 28 Stocks Close Change % Change DJIA 8,847.56 166.1  1.91% DJ 15 Util. 301.67 7.8  2.64% NASDAQ 1,498.80 38.09  2.61% S&P 500 1,040.17 22.3  2.19%     Market Vols Close Change % Change AMEX (000) 173,833 33,206.0  23.61% NASDAQ (000) 2,103,332 60,248.0  2.95% NYSE (000) 1,646,983 173,448.0  11.77%     Commodities Close Change % Change Crude Oil (Nov) 23.43 0.69  3.03% Heating Oil (Oct) 0.6635 0.014  2.20% Nat. Gas (Henry) 1.83 0.000  0.00% Propane (Oct) 40.25 1.750  4.55% Palo Verde (Nov) 31.50 0.00  0.00% COB (Nov) 33.00 0.00  0.00% PJM (Nov) 29.70 0.00  0.00%     Dollar US $ Close Change % Change Australia $  2.029 (0.022) -1.07% Canada $   1.577 (0.001) -0.06% Germany Dmark  2.150 0.019  0.89% Euro   0.9103 (0.008) -0.83% Japan ?en  119.50 (0.200) -0.17% Mexico NP 9.49 (0.010) -0.11% UK Pound   0.6797 0.0015  0.22%     Foreign Indices Close Change % Change Arg MerVal 243.55 (5.03) -2.02% Austr All Ord. 2,988.00 46.40  1.58% Braz Bovespa 10635.74 231.02  2.22% Can TSE 300  6838.6 169.15  2.54% Germany DAX 4308.15 123.65  2.95% HK HangSeng 9950.7 349.91  3.64% Japan Nikkei 225  9774.68 78.15  0.81% Mexico IPC  5403.53 97.45  1.84% UK FTSE 100 4,903.40 139.80  2.93%       Source:  Yahoo! & TradingDay.com   	     [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE]   [IMAGE]   [IMAGE]  [IMAGE]   [IMAGE]          [IMAGE]  [IMAGE]   [IMAGE]   [IMAGE]

 - bug_black.gif
 - Market briefs.xls


Thanks for your voice  mail message.  We are in good shape.    Phil Cassidy
has been talking with each speaker's scheduler about tentative times and
asking them to pencil in slots, pending an OK from Ken on our strategy.  So
discussions have been happening.  Here's where we are with the penciled
schedule:

8:00 Evans--tentative agreement
8:30 Lindsey--tentative agreement
9:00 Abraham---accepted but asking for slot at 10 or later
9:30 Whitman--tentative agreement, but we may move her to 9:00 if Abraham has
to go in later slot
10:00 Break
10:15  Open Slot
10:45  Greenspan--tentative agreement and he is NOT asking that press attend
11:15   Open Slot, but we could lengthen time for Greenspan if needed

Unresolved invites:  POTUS, Rumsfeld, and Powell.

Phil is going to hold off further calls pending a report on Ken's calls to
Card, Powell and Rumsfeld.    He does need to distribute an agenda on Tuesday
and would like to lock in this schedule soon thereafter.  For the Tuesday
agenda, he is going to list (without time slots) the speakers from whom we
have acceptances and list invitees.  So if we can get to Phil the results of
Ken's call to include in the Tuesday agenda, that would be great.

He will rework/change the above schedule in light of what we hear on the
outstanding invites.   O'Neill, at the moment, cannot do the 22nd.  Phil is
talking to his scheduler about attendance on the evening of the 21st, which
looks promising.  The discussion is centered on his serving as a backup for
POTUS.   Also, we have heard nothing from Zoellick and we are not calling to
push the invite.


I:

Kim Ward in Houston x3-0685 is taking over management of this account.  My
understanding of the new deal is that the fixed price deal expires 12/31 and
Kim has renegotiated the arrangment at index + .05/MMBtu.  Please contact her
to confirm.

Thanks

C

Isabel Y Resendez
01/31/2001 09:09 AM
To: Chris H Foster/HOU/ECT@ECt
cc: Lisa Valderrama/HOU/ECT@ECT
Subject: akzo

Chris,
I am back to this issue.  I have been told that the way we can fix the a/r
issues is to change the way the deal is entered in sitara.  I wanted to make
sure you agree with the change.  The way the deal is entered now is
1,125 daily  and the rest at the NGI index.
The days that Akzo takes less than the 1,125 the volumes allocation changes.
Making the system want to charge them more since it adds more volumes to the
NGI price.

I was wondering if we can change the deal to:
1,125 * #of days in month @ $2.6676
remaning volume  @ $NGI index.
This way it reflex the way ENA has invoice Akzo(since Akzo takes the require
1,125 on a monthly basis.

Please e-mail me back letting me know if this change agrees with how you
wanted Akzo to be invoice and that will reflex how Akzo has been invoice.
thanks
isabel
713-853-0440

---------------------- Forwarded by Isabel Y Resendez/HOU/ECT on 01/31/2001
10:59 AM ---------------------------

Isabel Y Resendez
10/19/2000 09:40 AM
To: Chris H Foster/HOU/ECT@ECT
cc: Audrey Cook/HOU/ECT@ECT
Subject: akzo

Good morning Chris,
I have a question on Akzo's invoicing.  Since we invoice Akzo manually I am
trying to reconcile the system with what we have invoice Akzo.
The way we are invoicing them is that we assume that they take the 1125 mmbtu
daily.  However, there is one or two days of each month(almost) that they
take less than the 1125/day.  That changes the numbers.  As it looks I may
have to go back and do PMA invoices to invoice them balance.  I wanted to
speak with you on this before I actually do anything.  Here is an example:

August manual invoice:
34,875 @ 2.6676 =  $93,032.55
24,520 @ 4.4775 =  $109,790.09
Total        $202,822.64

System Invoice:
34,633  @  2.6676  = $92,386.99
24,762  @   4.4775=   $110,871.86
Total          $203,258.85

Difference         $436.21
The reason to the difference in volume is that on 8/8 only 883 mmtu flowed.

The balance is not a big one but it is over my limit to overwrite.
My questions is do you want me to go back and send Akzo PMA invoices???
Give me a call if you need to speak to me about this.
thanks
isabel


Please see below.
 -----Original Message-----
From: 	"Lech Kalembka" <Lech.Kalembka@cwt.com>@ENRON
Sent:	Monday, November 05, 2001 3:21 PM
To:	Cook, Mary; Korkmas, Deb; Heinitz, Mary J.; Heard, Marie; Van Hooser, Steve
Subject:	UCC searches

Because of the, somewhat Byzantine, transition rules under the new UCC, if
the location of the chief executive office of any party against which we
are searching was different on July 1, 2001 than it is today, I would
appreciate it if you would let me know.  Thank you.

Lech Kalembka
Cadwalader, Wickersham & Taft
100 Maiden Lane
New York, NY  10038
Tel.: (212) 504-6918
Fax: (212) 504-6666
E-mail: lech.kalembka@cwt.com

==============================================================================
NOTE:  The information in this email is confidential and may be legally privileged.  If you are not the intended recipient, you must not read, use or disseminate the information.  Although this email and any attachments are believed to be free of any virus or other defect
that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by Cadwalader, Wickersham
& Taft for any loss or damage arising in any way from its use.

==============================================================================


MEET ME IN THE STAIRWELL

      You say you will never forget where you were when you heard the
 news on September 11, 2001. Neither will I.

    I was on the 110th floor in a smoke filled room with a man who
 called   his wife to say "Good-Bye." I held his fingers steady as he
dialed.

    I gave him the peace to say, "Honey, I am not going to make it,
but  it  is OK...I am ready to go."

    I was with his wife when he called as she fed breakfast to their
    children. I held her up as she tried to understand his words and
as  she realized he wasn't coming home that night.

    I was in the stairwell of the 23rd floor when a woman cried out to
 Me  for help. "I have been knocking on the door of your heart for 50
    years!" I said. "Of course I will show you the way home -- only
    believe in Me now."

    I was at the base of the building with the Priest ministering to
the  injured and devastated souls. I took him home to tend to his Flock
 in  Heaven. He heard my voice and answered.

    I was on all four of those planes, in every seat, with every
prayer.   I was with the crew as they were overtaken. I was in the very
hearts  of the believers there, comforting and assuring them that their
 faith   has saved them.

    I was in Texas, Kansas, London. I was standing next to you when
you  heard the terrible news. Did you sense Me?

    I want you to know that I saw every face. I knew every name --
 though not all know Me. Some met Me for the first time on the 86th floor.

    Some sought Me with their last breath.
    Some couldn't hear Me calling to them through the smoke and
flames;

    "Come to Me...this way...take my hand." Some chose, for the final
    time, to ignore Me. But, I was there.

    I did not place you in the Tower that day. You may not know why,
but   I do. However, If you were there in that explosive moment in time,
    would you have reached for Me?

    September 11, 2001, was not the end of the journey for you. But
    someday your journey will end. And I will be there for you as
well.   Seek Me now while I may be found. Then, at any moment, you know
you  are "ready to go."

    I will be in the stairwell of your final moments.

    God

    OUR FATHER

    During the next 60 seconds, stop whatever you are doing, and take
 this
    opportunity. (Literally it is only 1 minute)

    All you have to do is the following:

    You simply say and "Our Father" for the person that sent you this
    message:

    Our Father who art in Heaven, Hallowed be Thy Name, Thy Kingdom
 Come,
    Thy Will be done, on Earth as it is in Heaven. Give us this day
our
    daily bread and forgive us our trespasses as we forgive those who
    trespass against us and lead us not into temptation but deliver us
    from evil. For thine is the kingdom, the power and the glory,
 forever
    and ever AMEN.

    Next, you send this message to everyone you know. In a while, more
    people will have prayed for you and you will have obtained a lot
of
    people praying for others.

    Next, stop and think and appreciate God's power in your life, for
    doing what you know is pleasing to Him. If you are not ashamed to
do
    this, follow the instructions.

    Jesus said, "If you are ashamed of me, I will be ashamed of you
 before
    My Father."

    If you are not ashamed, send this message ... only if you believe.

    "Yes, I love my God. He is my fountain of Life and My Savior. He
    keeps me going day and night. Without Him, I am no one. But with
    Him, I can do everything. Christ is my strength."

    This is a simple test. If you love God and you are not ashamed of
 all
    the great things that he has done for you, send this to everyone
you
    know, and the person that sent it to you.

    AMEN, and God Bless Us All.....


fyi
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 11/15/2000
10:20 AM ---------------------------

	From:  Per Sekse                           11/15/2000 10:17 AM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: RE: BRENT/WTI spread

FYI. Just thought I'd let you know we're pushing the crude ideas and getting
positive feed back. Should lead to business shortly.  Per

---------------------- Forwarded by Per Sekse/NY/ECT on 11/15/2000 10:56 AM
---------------------------

Caroline Abramo@ENRON
11/15/2000 10:07 AM
To: Chris Glaas/LON/ECT@ECT
cc:  (bcc: Per Sekse/NY/ECT)
Subject: RE: BRENT/WTI spread

Hi Chris- thanks for getting on the horn with Harvard last week- because we
know they are already long the spreads, we will have to work on them amending
the position or putting more on longer term.

Below is feedback from another fund- Tudor, who we trade a lot with- same
thing- we will have to work on other ideas.  I am getting a bit more
comfortable with the flow of crude and appreciate your help on ideas.

These guys generally look at us as nat gas/ power only but are very willing
to trade crude/ products- just need to build credibility.

Talk to you later,
CA
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 11/15/2000
09:47 AM ---------------------------

Dwight Anderson <Dwight.Anderson@tudor.com> on 11/15/2000 08:05:02 AM
To: "'Caroline.Abramo@enron.com'" <Caroline.Abramo@enron.com>
cc:

Subject: RE: BRENT/WTI spread

Is a great idea.  (cuz we put it on in the low 1.20s....)  thx for the idea.
almost too bad we have it on already.....

-----Original Message-----
From: Caroline.Abramo@enron.com [mailto:Caroline.Abramo@enron.com]
Sent: Tuesday, November 14, 2000 5:00 PM
To: Dwight.Anderson@tudor.com; Jason.Mraz@tudor.com
Cc: Per.Sekse@enron.com
Subject: BRENT/WTI spread

Dwight/Jason-

We have done some analysis on the Brent / WTI spread- we would recommend
buying WTI/ selling Brent for 2Q01 (as well as 02 and 03).

We looked back to 1995 to see how each 2Q of these years traded 1 year
prior to it being prompt.  The graph attached gives the raw data and the
word doc some risk/ reward analysis (1995 was a weird year).

(See attached file: Brent_TI Analysis.xls)(See attached file:
Brent_WTI-Trade.doc)

The spread is pretty constant at 1.25- 1.40 up until the contracts are
prompt- then the average is more like 1.80.  2000 was particularly striking
because of the gasoline shortage in the Mid West which put pressure on WTI
at Cushing (and in general kept cracks high)- we got out to 2.70.  We are
looking for a repeat this year.  The Arb has generally moved to 2.70
minimum (to bring Brent to Cushing) because of higher freight rates this
year- this looks to continue.

The spread has moved out the last few days as Dec Brent is getting tight
(due to UK tax affect)- now 1.52 at 1.57

Looking forward to hearing your thoughts on this.
Rgds,
CA


Please find attached MPR #27 (incl. photos) which is in Adobe Acrobat 4.0
file format and covers project activities up to end February 2001.

Regards ,

Gary Monk


Yes

IS 300 Silver/Black - dark tint on the windows, killer 17's

I am very happy with it. I like it better than the 3 series.

cd


Per my voice mail, attached is the redlined version.  See Paragraph 4.
Thanks.  ss