Rogers,

Here's a summary of today's meeting and other discussions I've had with the parties involved.

Does everyone have the information they need?
Services Management - TBD. Scott Massey is compiling a list of all non mass market ERCOT deals.
Site Profile Desk - No. Need to know which accounts have IDR meters. Need consumption data in a standard format from Services Management
Load Profile Desk - No. Need historical usage information on all deals.
Power Desk - Yes, except for deal lists.
Scheduling - Yes
Settlements - No. Need clarification from ERCOT/EPMI regarding which meters have switched and when they switched.
CSC - No. Need detailed information regarding which costs to pass through to customers. Need information regarding how to bill non-standard deals.
IT - No. Need accurate deal information from RPS.
All - Need the deal list from Services Management
Who is communicating with the ISO?
EPMI Scheduling
EPMI Settlements/Volume Management
CSC
Do we have all the data we need for the customers?
TBD. Once we get the deal list from Services Management, we should be able to make a determination.
What are the deadlines for notification? Dates are subject to change due to decisions pending at ERCOT
Deal Capture - Need deal sheets by December 5th.
CSC - Need deal sheets by December 15th.

We have a plan in place to gather the necessary information and are confident that all of our customers will be switched on 1/1/2002 (or the next meter read date).

Please let me know if you would like more detail.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Tuesday, October 23, 2001 3:17 PM
To:	Ochsner, Preston
Cc:	Wagner, Joseph; Misra, Narsimha; Day, Smith L.; Merola, Jeff; Bird, Richard; Frazier, Michael; Avs, Mallik; Woulfe, Greg; Presto, Kevin M.
Subject:	RE: ERCOT physical delivery update

I assume we are doing everything necessary to insure that we will have all of our customers switched for 1/1/02.  If anyone knows any different then please speak up now.  In all seriousness, we cannot accept mistakes or slip-ups on this one.  The pilot transfers appear to have been much more difficult than I would have anticipated.

Does everyone have the info they need?
Who is communicating with the ISO?
DO we have all of the data we need for the customers?
What are the deadlines for notification?
Does this group feel we need to get together to discuss any open issues?

Please let me know if anyone feels uncomfortable with our getting there.

Thanks,
Rogers

 -----Original Message-----
From: 	Ochsner, Preston
Sent:	Monday, October 22, 2001 1:51 PM
To:	Herndon, Rogers
Cc:	Wagner, Joseph; Misra, Narsimha; Day, Smith L.; Merola, Jeff; Bird, Richard
Subject:	ERCOT physical delivery update

Changes from last week in red.

Retail load
About 18 MW peak, 17 MW off-peak.
October 4th - First account was switched.
By November 6th - Remaining accounts will be switched
Issue - Some Lockheed Martin accounts that aren't in the batch.
Issue - Trying to get positions correctly reflected in positions report - Jeff Jackson
Issue - Data we are getting from RPS is incorrect.

Interface with EWS Wholesale
To date - Met with EPMI and discussed management (when will position be transferred? how? at what price?) of retail position. Tom May to discuss with Rogers.
Issue - How will we pass through intrazonal congestion costs? This isn't an issue for the pilot, but will be an issue on 1/1/2002.

Intramonth book development
November 1 - Expect to have volume management/reporting capability.
November 1 - Expect to have MTM calculations
???- Expect to have all other reporting capabilities functioning. Will meet with Richard Bird this week to develop a new timeline.

Working with CSC to develop a method to obtain actual customer usage on a timely basis.

Load forecasting
Issue - There is a significant difference (at least in % terms) between the Packaged Ice position per the positions report and Frazier's forecast. Appears the majority of this difference is due to some Packaged Ice accounts being booked more than once.
Issue - Forecasting by zone (vs. at the account level) may lead to inaccuracies in P&L reporting.

?	Customer switching process
Jeff Merola to determine roles and responsibilities

?	Site profile
Site profile desk has processed the pilot program deals.
Met with the desk to discuss the other (non-pilot program) deals that we expect to switch 1/1/202.

Thanks,
Preston Ochsner
Commodity Risk Management
Enron Wholesale Services
713-345-3341


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Wednesday: The CRB Index is trending higher 0.60 points to 190.12. The
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The Dow Industrials trended lower by 66.70 points, at 9834.68, while
the S&P 500 declined 5.63 points, last seen at 1137.03. The
Nasdaq Composite softened 5.46 points to 1875.05.
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E X T R E M E   M A R K E T   C O M M E N T A R Y
_____________________________________________________________________

The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

Stock indexes closed lower on Wednesday due to profit taking as they
extended Tuesday?s losses. The NASDAQ closed lower for the second day
in a row however, a short covering bounce ahead of the close tempered
some of today's losses leaving the door open for sideways trading on
Friday. If this week?s decline continues, trendline support crossing
near 1816.25 is a possible target later this month. Closes below this
fall?s uptrend line would confirm that this fall?s rally has come to
an end. The December S&P 500 index also closed lower on Wednesday as
it extended profit taking that began on Tuesday. December closed just
below the 50% retracement level of this summer?s decline crossing at
1137.45 today. Closes below last Friday?s low at 1130.50 could lead
to a test of this fall?s uptrend line crossing near 1110.50 later
this year. Momentum indicators are overbought warning investors that
additional long-liquidation is possible into the end of November.

The Dow closed lower on Wednesday due to profit taking ahead of the
Thanksgiving Day holiday. Ideas that this fall?s rebound might have
been too much too fast is causing investors to look hard at their
portfolio?s as they might want to lock in profits ahead of the
upcoming Christmas season. This morning?s consumer confidence report
showed improvement for the second month in a row, which had little
effect on investors today. If today?s setback continues, broken fib
resistance crossing at 9706.20 is a possible target later this month.

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

December T-bonds renewed its decline off November?s high and broke
out below the 75% retracement level of the Sept./Oct. rally crossing
at 104-29. Today?s close into new lows for the week sets the stage
for a likely test of September?s low crossing at 102-17 later this
month. A short covering bounce ahead of the close tempered some of
today?s losses leaving the door open for sideways trading on Friday.
Momentum indicators remain bearish signaling that additional weakness
is possible into the end of November.

The CRB INDEX http://quotes.ino.com/exchanges/?c=indexes

The CRB index closed higher on Wednesday as it spiked above last
week?s high before profit taking tempered some of today?s gains.
Strength in energies, grains, fiber and some foods underpinned
today?s rally. If this fall?s rebound continues, trendline resistance
crossing near 191.87 is the CRB?s next target. Closes above this
resistance level are needed to confirm a major bottom and trend
change has taken place.

ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy

The energy markets closed slightly lower on Wednesday in light
pre-holiday trading as they consolidated some of this week?s short
covering gains. Traders continue to mull over comments from OPEC and
non-OPEC nations for a clue on whether or not they will reach an
agreement to cut production.

January crude oil closed slightly lower as it posted a quiet inside
day on Wednesday to consolidate recent gains. If this week?s rebound
continues, fib resistance crossing at 20.02 is Jan.?s next target.
Momentum indicators have turned bullish signaling that sideways to
higher prices are possible into early-December.

December heating oil posted an inside day with a lower close on
Wednesday as it consolidated some of its recent gains. However,
momentum indicators are turning bullish signaling that Monday?s low
marked a short-term bottom. If this week?s rebound continues, fib
resistance crossing at 58.36 is December?s next target.

December unleaded gas closed slightly lower on Wednesday in choppy
trading. If this week?s rebound continues, fib resistance crossing at
55.55 is December?s next target. Momentum indicators have turned
bullish increasing the odds that a short-term top has likely been
posted.

December Henry Hub natural gas closed lower on Wednesday following
the release of this week?s AGA inventory report. The report showed a
build of 15 bcf this past week, which was termed bearish. However,
short-term momentum indicators are turning bullish hinting that a
double bottom has likely been posted.

CURRENCIES http://quotes.ino.com/exchanges/?c=currencies

The December Dollar erased Tuesday?s loss and closed into new highs
thereby confirming the recent breakout above trading range
resistance. December is poised to test the 62% retracement level of
this summer's decline crossing at 117.79 in the near future. Momentum
indicators are bullish but becoming overbought but have not confirmed
a top is in place.

The December Swiss Franc closed lower on Wednesday due to light
profit taking as it consolidated some of Tuesday?s gains. However,
closes above trendline resistance crossing near .6136 are needed to
confirm a bottom. Momentum indicators are turning neutral to bullish
hinting that sideways to higher prices are possible into
early-December.

The December Canadian Dollar extended Tuesday?s decline and is poised
to retest this month?s low at .6230 in the near future. If the
decline resumes, .6200 is a potential target later this year. A
number of momentum indicators are turning bearish with today?s
decline signaling that additional weakness is possible near-term.

The December Japanese Yen posted a downside reversal on Wednesday
thereby ending Tuesday?s short covering bounce. If the decline
resumes, July?s low crossing at .8060 is a potential target later
this year. Stochastics and the RSI are bearish signaling that
sideways to lower prices are possible near-term.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

December gold closed slightly lower on Wednesday ended above August?s
reaction low crossing at 272.60. Closes below this key support level
would open the door for a possible test of this summer?s crossing at
268.40 later this year. Stochastics and the RSI are bearish signaling
that additional weakness is possible into the end of November.

December silver posted a new contract low on Wednesday as it broke
out below key support crossing at 4.055 cents. The door is open for a
test of weekly support crossing at 3.90 later this year. Momentum
indicators are bearish signaling that sideways to lower prices are
possible near-term.

December copper posted a key reversal up on Wednesday. However,
today?s mid-range close leaves the door open for sideways trading
when the market reopens after Thanksgiving. Closes above 69.60 or
below 66.70 are needed to clear up near-term direction in the market.

GRAINS http://quotes.ino.com/exchanges/?c=grains

March corn closed steady on Wednesday as it consolidates below the
bottom of October?s gap crossing at 2.21 1/2. Closes above this
resistance level are needed to extend March?s rebound off this
month?s low and set the stage for a possible test of this summer?s
downtrend line crossing near 2.25. Closes above this downtrend line
are needed to confirm a bottom and trend change has taken place.
Momentum indicators are bullish signaling that sideways to higher
prices are possible into the end of November.

March wheat closed fractionally higher on Wednesday as early strength
due to short covering faded ahead of the close. Today?s low-range
close leaves the door open for sideways to lower prices on Friday.
Until export demand improves, upside potential appears limited into
the end of the year. Stochastics and the RSI have turned bullish
signaling that a test of October?s high at 3.03 is still possible by
the end of the year.

SOYBEAN COMPLEX http://quotes.ino.com/exchanges/?c=grains

January soybeans posted an inside day with a higher close on
Wednesday due to short covering as it consolidated some of Tuesday?s
loss. Friday?s export sales report holds the key as to how January
will close out the week. Thin holiday trading volume could lead to
exaggerated moves in Friday?s shortened session. Closes above this
week?s high at 4.54 3/4 or below this fall?s shallow uptrend line,
which crosses near 4.42 1/2 are needed to clear up near-term
direction in the market. Momentum indicators are overbought and
turned bearish while weekly momentum indicators suggest that
additional short covering gains are possible into the end of the
year.

January soybean meal closed higher on Wednesday due to short covering
following Tuesday?s above mid-range close. January finished the day
near mid-range leaving the door open for sideways trading on Friday.
Momentum indicators have turned bearish signaling that sideways to
lower prices are likely into early-December. January remains locked
in a sideways pattern, as closes above 162 or below 154.40 are needed
to confirm a trading range breakout and point the direction of the
next trending move.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

February hogs closed lower on Wednesday following Tuesday?s bearish
monthly cold storage report. However, a short covering bounce ahead
of the close tempered some of today?s losses leaving the door open
for sideways trading on Friday. Momentum indicators are turning
neutral to bearish hinting that sideways to lower prices are possible
into early- December.

February cattle closed steady on Wednesday and remain poised to test
this fall?s downtrend line crossing near 70.30. Closes above this
resistance level are needed to confirm a bottom and trend change has
taken place. Stochastics and the RSI are bullish signaling that
sideways to higher prices are possible into early-December.

FOOD & FIBER http://quotes.ino.com/exchanges/?c=food

March coffee closed higher on Wednesday in choppy trading as it
extended Tuesday?s short covering bounce. Closes above 53.00 or below
this fall?s uptrend line crossing near 48.60 are needed to clear up
near-term direction in the market. Short-term momentum indicators
remain bearish warning bullish traders to use caution, as the market
remains vulnerable to additional weakness near-term.

March cocoa closed lower on Wednesday as it continues to consolidate
some of this month?s impressive gains. This week?s setback appears to
be nothing more than a retest of broken resistance crossing at 1257.
Closes above 1297 would confirm this week?s breakout and open the
door for a possible test of the March 1999 reaction high crossing at
1341 later this year. The daily ADX is bullish signaling that
sideways to higher prices are possible into the end of November.

March sugar posted a key reversal up on Wednesday but fell just short
of testing the 50% retracement level of the June/October decline
crossing at 755. Additional strength is needed to confirm today?s
bullish reversal pattern. If this fall?s rally continues, September?s
reaction high crossing at 780 is a potential target later this year.
The daily ADX has entered a bullish trend mode signaling that
sideways to higher prices are possible into the end of the year.

March cotton closed slightly higher on Wednesday due to improving
world cotton prices. March needs to close above 37.40 or below 35.00
to clear up near-term direction in the market. If this fall?s
short-covering rally resumes, the 50% retracement level of the
July/October decline crossing at 37.88 is March?s next target.
Momentum indicators are bullish but overbought warning bullish
traders to use caution.

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I N O   N E W S
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CFTC's Technology Committees Release Interim Reports
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E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/

WINNERS

PNM2   Propane Jun 2002                           0.3240    0.0090  +2.86
SBH2   Sugar #11 World Mar 2002                     7.52      0.19  +2.59
KCH3   Coffee 'C' Mar 2003                         60.00      1.35  +2.30
BOZ1   Soybean Oil Dec 2001                        16.30      0.36  +2.26
OJK2   Orange Juice Froz. Conc. #1 May 2002        97.40      1.90  +1.98
XRF2   Soybean Oil Jan 2002                        16.46      0.31  +1.92
CTZ2   Cotton Dec 2002                             41.75      0.75  +1.83
DAZ1   BFP Milk Dec 2001                           11.81      0.21  +1.81
HOK3   Heating Oil May 2003                       0.5625    0.0088  +1.55
PAZ1   Palladium Dec 2001                         335.00      4.90  +1.48

LOSERS

NGQ3   Henry Hub Natural Gas Aug 2003              3.361    -0.200  -5.71
DBK2   Butter May 2002                           145.000    -4.525  -3.03
PBQ2   Frozen Pork Bellies Aug 2002               75.000    -1.750  -2.30
LBF2   Random Length Lumber Jan 2002              223.80     -3.80  -1.67
TUZ1   Treasury Notes 2yr Dec 2001             104 56/64    -92/64  -1.37
OZ2    Oats Dec 2002                                 144        -2  -1.37
CLF2   Light Sweet Crude Oil Jan 2002              18.96     -0.25  -1.31
ZTZ1   Treasury Notes 2yr Dec 2001             104 56/64    -85/64  -1.26
HUG2   New York Harbor Unleaded Gasoline Feb 20    0.5414   -0.0066  -1.21
HOZ1   Heating Oil Dec 2001                       0.5342   -0.0051  -0.95

*FREE: VANTAGEPOINT MARKET FORECAST SOFTWARE
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____________________________________________________________________________

E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

NSYS   NORTECH SYSTEMS                            5.7000    1.0500  +22.11
ARQL   ARQULE INC                                10.1000    1.5700  +18.23
SMD    SINGING MACHINE CO INC                      17.01      2.56  +17.84
CWBSP  COMMONWEALTH BANKSHR CAP TR I              6.0000    0.8500  +16.50
ORG    ORGANOGENESIS INC                            5.03      0.70  +16.28
SKS    SAKS INC                                     9.42      1.31  +16.15
DRRX   DURECT CORP                               10.3000    1.4500  +15.68
ROSS   ROSS SYSTEMS INC                           6.0000    0.7600  +14.34
ILX    ILX RESORTS                                  6.80      0.84  +14.00
SSPE   SOFTWARE SPECTRUM                         12.9990    1.5900  +13.95

LOSERS

ENE    ENRON CORP                                   5.01     -1.99  -28.47
EXG    ENRON CORP 7% EXCH NTS 7/31/02              17.00     -6.49  -27.38
DOC    MEDICAL ADVISORY SYSTEMS INC                 6.20     -1.27  -17.23
ENE-A  ENRON CAP RES LP 9% PFD A                   15.05     -3.05  -16.58
EPIQ   EPIQ SYSTEMS INC                          31.7000   -5.9400  -15.74
ENE-C  ENRON CAP LLC 8% CUM PFD MIPS               14.01     -2.41  -14.69
ENE-T  ENRON CAP TR I 8.30% TOPRS                  13.90     -2.38  -14.60
ENE-R  ENRON CAP TR II 8.125% TOPRS                14.00     -2.35  -14.37
DLGS   DIALOG SEMICONDUCTOR PLC ADS               6.0000   -0.9900  -14.14
TQNT   TRIQUINT SEMICONDUCTOR                    17.2200   -2.2700  -11.61
_____________________________________________________________________

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Hello all,

I look forward to this meeting.  Since the time Vince and I last spoke, we
have really gained some traction in this area of improving our relationships
with universities.  I am going to take the liberty of inviting Mike Rosen to
the meeting.  Mike has done a great job on several relationship-based special
projects, and I'd like to hear his thoughts as we develop the angles of this
initiative.

See you tomorrow,

Mark


Rod,

Please see document attached as per your  request.

Best regards,

Ravi Karumanchiri

 - Rutherford Consulting Expense Report TALLY.xls


Yes Steve received your fax.

  Maureen McVicker
  Steve's Assistant

	"Kim, Amy" <AKim@m-g.com>
	03/13/2001 07:47 AM

		 To: "'skean@enron.com'" <skean@enron.com>
		 cc:
		 Subject: receipt of 6-page fax

Good morning!

I just wanted to know if you received the 6-page fax I sent you last night
with the documents you requested.

I look forward to hearing from you.


i.e., "sign up, or else."  (I love it when you're tough.)

-----Original Message-----
From: Thompson, Thomas W. [mailto:ttt@cpuc.ca.gov]
Sent: Monday, October 01, 2001 11:36 AM
To: Dasovich, Jeff; Prentice (E-mail)
Subject: Point Reyes Egret's Overlook Home....info

Prentice and Jeff - here's the address for the place just north of Point Reyes Station.  Looks sorta groovy, nice separate bedroom accommodations, central living area and good kitchen.  Let us know what you think....  it's not on the water, but the price is right and we're inclined to go for it.

<http://www.point-reyes-vacation.com/rooms.htm#contact>


Early Reminder!

Please Join Us
Friday, Dec. 15, 2000
6:00pm
at Chary & Steve's
27 Lavenham road
Novato, Ca. 94949
tel. 415-883-1313

adults only
appetizers, keg of beers, and danish gloog will be provided


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
----- Forwarded by Sara Shackleton/HOU/ECT on 01/19/2001 09:32 AM -----

	Enron Global Markets LLC - Office of the Chairman@ENRON
	Sent by: Enron Announcements@ENRON
	08/17/2000 07:14 AM

		 To: North America
		 cc:
		 Subject: Org Announcement - Enron Global Markets
   Enron Global Markets LLC - Office of the Chairman

After having conducted our first of several business reviews, Enron Global
Markets - Office of the Chairman would like to outline the following
organizational changes effective immediately.

The Global Risk Markets group under Jere Overdyke illustrates enormous
opportunities given the size of those businesses.  To better focus on the
different commercial functions and to capture market share and value, the
group is being realigned.  Jere will continue to manage Global Risk Markets
and build on our insurance capabilities.  Mark Tawney is responsible for our
weather business and will now report to the EGM Office of the Chairman.

Brent Price will be joining Enron Global Markets as Vice President of
Operations and Chief Accounting Officer.  He will report to the EGM Office of
the Chairman, and to Sally Beck, Vice President of Global Risk Management
Operations.  In his role as Chief Accounting Officer, Brent will also report
to Rick Causey, Executive Vice President and Chief Accounting Officer for
Enron Corp.  Reporting to Brent in his new position will be Sheila Glover,
business controller for Financial Products; Todd Hall, business controller
for weather; and Scott Earnest, business controller for global products and
coal.  In addition, Tom Myers will join Brent's management team as Director
of Accounting.  Brent and his team are responsible for all accounting, risk
reporting and trading operations for all the businesses within EGM.

Cindy Skinner will join the Enron Global Markets team with responsibility for
Human Resources.  She will also report to David Oxley and the HR organization.

Please join us in congratulating everyone in their assignments.


Thanks.  SS

 -----Original Message-----
From: 	Bailey, Susan
Sent:	Wednesday, September 26, 2001 11:02 AM
To:	Shackleton, Sara
Subject:	RE: ISDA Master Agreement

Sara,

Currently we have a blank "sample" for our Paragraph 13s which are attached to our sample ISDAs for (a) US Corporate, (b) Hedge Funds, (c) Municipal.  I will extract the one for the US corporate Paragraph 13 and email to your contact @ First Union Securities.

The sample includes our "caveat", so it should be fine.

Susan

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Wednesday, September 26, 2001 10:57 AM
To:	Bailey, Susan
Cc:	Rohauer, Tanya
Subject:	FW: ISDA Master Agreement

Susan:  While Tanya is reviewing credit, can you please send a "blank form Paragraph 13" for this master.  Just our standard.  Caveat:  subject to credit review even though there are blanks.  Thanks.  Sara

 -----Original Message-----
From: 	"Suchdev, Vijay" <vijay.suchdev@funb.com>@ENRON [mailto:IMCEANOTES-+22Suchdev+2C+20Vijay+22+20+3Cvijay+2Esuchdev+40funb+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Wednesday, September 26, 2001 10:14 AM
To:	Shackleton, Sara
Cc:	Gray, Steven
Subject:	RE: ISDA Master Agreement

First Union Securities, Inc.

Hi Sara,

I just wanted to follow up on whether you will have a chance to send a draft
Credit Support Annex (similar in form to the one previously executed with
ENA).  I understand you may not have credit approval yet so perhaps we can
leave the appropriate sections blank in the meantime.

Thanks and regards,

Vijay K. Suchdev
Vice President
Equity Derivatives
First Union Securities, Inc.
Telephone: (212) 909-0951
Facsimile: (212) 891-5042
email: vijay.suchdev@funb.com <mailto:vijay.suchdev@funb.com>

	-----Original Message-----
	From:	Shackleton, Sara [SMTP:Sara.Shackleton@enron.com]
	Sent:	Tuesday, September 25, 2001 3:27 PM
	To:	Vijay.Suchdev@funb.com
	Subject:	ISDA Master Agreement

	Vijay:

	I've been trying to call you for about an hour, but the circuits are
all
	busy.  Sometimes it's easier for NY to call out than for us to call
NY.
	I'll be in my office for about an hour before meetings.  Also, I am
free
	in the morning.  We'll need to recall exactly where we were at the
	beginning of August.  Thanks.  Sara

	Sara Shackleton
	Enron Wholesale Services
	1400 Smith Street, EB3801a
	Houston, TX  77002
	Ph:  (713) 853-5620
	Fax: (713) 646-3490

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

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

This is for your information only and is not an offer to sell, or a solicitation of an offer to buy, the securities or instruments mentioned.  The information has been obtained or derived from sources believed by us to be reliable, but we do not represent that it is accurate or complete.  Any opinions or estimates contained in this information constitute our judgement as of this date and are subject to change without notice.  First Union Securities, Inc. (FUSI), or its affiliates may provide advice or may from time to time acquire, hold or sell a position in the securities mentioned herein.  FUSI is a
subsidiary of Wachovia Corporation and is a member of the NYSE, NASD and SIPC.  FUSI is a separate and distinct entity from its affiliated banks and thrifts.


Dear Valued Ameritrade Customer:

Thank you for using the wire request feature on our website.  I have
submitted your withdrawal request in the amount of $5700.00.  Federal
Securities regulations require that stock and bond trades settle three
business days after the transaction.  Per your instructions to send the funds
upon settlement, your wire will be processed on 01/29/2001, settlement day
for these transactions.

If you would like the funds requested sent to you prior to the settlement
date, Early Settlement fees will apply.  The fee structure is as follows:

$25.00 + $0.35 per $1000.00 per day

The $25.00 is a one-time charge per wire request.

If you have further concerns or inquiries, please contact the Wire Team
through Customer Service at (800) 669-3900 or (402) 970-5805.

Thank you for choosing Ameritrade!

Sincerely,

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Customer Service/Wire Specialist
Ameritrade, Inc.

Original Message Excluded:
-------------------------
case 2082605


hoskins has no extra.  i heard it isn't sold out and we can pick one up
easy.  tell him we are at club level.


---------------------- Forwarded by Thomas A Martin/HOU/ECT on 03/20/2001
03:40 PM ---------------------------

Thomas A Martin
10/05/2000 02:17 PM
To: Brian Redmond/HOU/ECT@ECT
cc:
Subject: HPL Transportation and Supply Ideas

The following is the updated transportation and supply ideas per our meeting
with Dave.

Thanks,
Tom


Received: from houhq_svrapp1.oaksgroup.com ([209.220.178.10]) by HW_3; Fri,
10 Dec 1999 09:10:12 -0600
Received: by HOUHQ_SVRAPP1 with Internet Mail Service (5.5.2448.0) id
<XNAYN4BM>; Fri, 10 Dec 1999 09:06:05 -0600
Message-ID: <4D91BD0D6220D311905A0008C75B72054C7793@HOUHQ_SVRAPP1>
From: Jennifer Bell <jennifer.bell@oaksgroup.com>
To: "'Ward_H@houworks.com'" <Ward_H@houworks.com>
Subject: FW: HAVE FUN
Date: Fri, 10 Dec 1999 09:06:01 -0600
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2448.0)
Content-Type: multipart/mixed;
boundary="----_=_NextPart_000_01BF4320.1484398C"

 <<JACKS2.EXE>>  <<BLOCKS3.EXE>>  <<CHECKERS.EXE>>  <<CODEBRAK.EXE>>
<<DOMINOES.EXE>>  <<DOTS.EXE>>  <<FLAGHUNT.EXE>>  <<HANGMAN3.EXE>>
<<HYPEROID.EXE>>  <<AFORCE.EXE>>  <<MARIO.EXE>>  <<PACPC.EXE>>  <<POOL.EXE>>
 <<SLOT.EXE>>  <<SPADES.EXE>>  <<SQUASH.EXE>>  <<STICKS.EXE>>  <<SOL.EXE>>
<<Killbees.exe>>

-----Original Message-----
From: Cynthia Lockett [mailto:cmlockett@earthlink.net]
Sent: Thursday, December 09, 1999 8:28 AM
To: lOCKETTMD@MFR.USMC.MIL
Subject: Fw: GAMES

-----Original Message-----
From: Lockett.Cynthia <Lockett.Cynthia@DIMAC.COM>
To: 'CYNTHIA LOCKETT' <CMLOCKETT@earthlink.net>
Date: Tuesday, November 30, 1999 12:07 PM
Subject: FW: HEY LADY I hope you like this.

>
>
>> -----Original Message-----
>> From: Sykes.Teressa
>> Sent: Monday, November 29, 1999 2:01 PM
>> To: Lockett.Cynthia
>> Subject: FW: HEY LADY I hope you like this.
>>
>>
>>
>> Thanks
>> Teressa
>>
>> -----Original Message-----
>> From: smyers@intercardinc.com [SMTP:smyers@intercardinc.com]
>> Sent: Monday, November 29, 1999 10:30 AM
>> To: avincent@intercardinc.com; dlayton@intercardinc.com;
>> kmichael@intercardinc.com; pnix@intercardinc.com;
>> dreidel@intercardinc.com; shauna.lewis@mkg.com; sykes.teressa@dimac.com;
>> br8822@aol.com
>> Subject: HEY LADY I hope you like this.
>>
>>
>> ---------------------- Forwarded by Sheryl Myers/Intercard_Inc. on
>> 11/29/99
>> 10:28 AM ---------------------------
>>
>>
>> Vincent Redmond
>> 11/29/99 10:24 AM
>>
>> To: Sheryl Myers/Intercard_Inc.@Intercard_Inc.
>> cc:
>> Subject: HEY LADY I hope you like this.
>>
>>
>> ---------------------- Forwarded by Vincent Redmond/Intercard_Inc. on
>> 11/29/99 10:17 AM ---------------------------
>>
>>
>> "Taylor, Christopher E" <Christopher.E.Taylor@stls.frb.org> on 11/24/99
>> 04:56:05 PM
>>
>> To:
>> cc:    (bcc: Vincent Redmond/Intercard_Inc.)
>> Subject: FW: *****GAMES******Some thing to do when you guy are not
busy
>>
>>
>>
>>
>>
>>
>>
>>  <<JACKS2.EXE>>  <<BLOCKS3.EXE>>  <<CHECKERS.EXE>>  <<CODEBRAK.EXE>>
>> <<DOMINOES.EXE>>  <<DOTS.EXE>>  <<FLAGHUNT.EXE>>  <<HANGMAN3.EXE>>
>> <<HYPEROID.EXE>>  <<AFORCE.EXE>>  <<MARIO.EXE>>  <<PACPC.EXE>>
>> <<POOL.EXE>>
>>  <<SLOT.EXE>>  <<SPADES.EXE>>  <<SQUASH.EXE>>  <<STICKS.EXE>>
<<SOL.EXE>>
>> <<Killbees.exe>>
>>
>>  <<JACKS2.EXE>>  <<BLOCKS3.EXE>>  <<CHECKERS.EXE>>  <<CODEBRAK.EXE>>
>> <<DOMINOES.EXE>>  <<DOTS.EXE>>  <<FLAGHUNT.EXE>>  <<HANGMAN3.EXE>>
>> <<HYPEROID.EXE>>  <<AFORCE.EXE>>  <<MARIO.EXE>>  <<PACPC.EXE>>
>> <<POOL.EXE>>  <<SLOT.EXE>>  <<SPADES.EXE>>  <<SQUASH.EXE>>
<<STICKS.EXE>>
>>  <<SOL.EXE>>  <<Killbees.exe>>
>

 - att1.htm
 - JACKS2.EXE
 - BLOCKS3.EXE
 - CHECKERS.EXE
 - CODEBRAK.EXE
 - DOMINOES.EXE
 - DOTS.EXE
 - FLAGHUNT.EXE
 - HANGMAN3.EXE
 - HYPEROID.EXE
 - AFORCE.EXE
 - MARIO.EXE
 - PACPC.EXE
 - POOL.EXE
 - SLOT.EXE
 - SPADES.EXE
 - SQUASH.EXE
 - STICKS.EXE
 - SOL.EXE
 - Killbees.exe


----- Forwarded by Jeff Dasovich/NA/Enron on 03/02/2001 07:42 PM -----

	"Julee Malinowski-Ball" <jmball@ns.net>
	03/02/2001 07:03 PM
	Please respond to "Julee Malinowski-Ball"

		 To: "Jan Smutny Jones" <smutny@iepa.com>, "Steven Kelley" <steven@iepa.com>,
"Katie Kaplan" <kaplan@iepa.com>
		 cc: "William Hall" <wfhall2@duke-energy.com>, "Tony Wetzel"
<twetzel@thermoecotek.com>, "Sue Mara" <smara@enron.com>, "Steven Kelley"
<steven@iepa.com>, "Steve Ponder" <steve_ponder@fpl.com>, "Steve Iliff"
<siliff@riobravo-gm.com>, "Stephanie Newell"
<stephanie-newell@reliantenergy.com>, "Ross Ain" <rain@caithnessenergy.com>,
"Roger Pelote" <roger.pelote@williams.com>, "Robert Lamkin"
<rllamkin@seiworldwide.com>, "Richard Hyde" <rwhyde@duke-energy.com>, "Randy
Hickok" <rjhickok@duke-energy.com>, "Paula Soos"
<paula_soos@ogden-energy.com>, "Nam Nguyen" <nam.nguyen@powersrc.com>, "Marty
McFadden" <marty_mcfadden@ogden-energy.com>, "Lynn Lednicky"
<lale@dynegy.com>, "Larrea, John" <John.g.Larrea@williams.com>, "kent
Palmerton" <kent.palmerton@williams.com>, "Ken Hoffman"
<khoffman@caithnessenergy.com>, "Kate Castillo" <ccastillo@riobravo-gm.com>,
"Kassandra Gough" <kgough@calpine.com>, "Jonathan Weisgall"
<jweisgall@aol.com>, "John Stout" <john_h_stout@reliantenergy.com>, "Joe
Ronan" <joer@calpine.com>, "Joe Greco" <jgreco@caithnessenergy.com>, "Jim
Willey" <elliottsa@earthlink.net>, "Jeff Dasovich" <Jeff.Dasovich@enron.com>,
"Jack Pigott" <jackp@calpine.com>, "Jack Hawks" <jack.hawks@gen.pge.com>,
"Hap Boyd" <rboyd@enron.com>, "Greg Blue" <gtbl@dynegy.com>, "Frank DeRosa"
<fderosa@sanfrancisco.usgen.com>, "Eric Eisenman"
<eric.eisenman@gen.pge.com>, "Eileen Koch" <eileenk@calpine.com>, "Ed Tomeo"
<ed.tomeo@uaecorp.com>, "Duane Nelson" <dnelsen@msn.com>, "Doug Fernley"
<fernley.doug@epenergy.com>, "Dean Gosselin" <dean_gosselin@fpl.com>, "David
Parquet" <dparque@ect.enron.com>, "Curtis Kebler"
<curtis_l_kebler@reliantenergy.com>, "Curt Hatton" <Curt.Hatton@gen.pge.com>,
"Craig Chancellor" <craigc@calpine.com>, "Cody Carter"
<cody.carter@williams.com>, "Carolyn Baker" <cabaker@duke-energy.com>, "Bob
Gates" <bob.gates@enron.com>, "Bob Escalante" <rescalante@riobravo-gm.com>,
"Bob Ellery" <bellery@spi-ind.com>, "Bill Woods" <billw@calpine.com>, "Bill
Carlson" <william_carlson@wastemanagement.com>, "Quan-Hill, Danielle"
<danielle.quan-hill@mirant.com>, "Chris Ellison" <CTE@eslawfirm.com>, "Andy
Brown" <ABB@eslawfirm.com>, "Doug Kerner" <runwithmee@aol.com>, "Robert
Weisenmiller" <rbw@mrwassoc.com>, "Jean Munoz" <jmunoz@mcnallytemple.com>
		 Subject: Legislative Status Report Week Ending 3/2

Date: 3/2/01
To: Jan Smutny-Jones, Steven Kelly, Katie Kaplan
Cc: IEP Board of Directors
From: Julee Malinowski-Ball, Edson + Modisette
RE: Legislative Status Report Week Ending 3/2

RECENT EVENTS:

-- AB 8x (Migden), which would give the EOB additional and undefined powers
related to the coordination of operation and maintenance schedules, passed
the Assembly ECA committee 14 to 0.  This measure came from the Governor,s
office in response to one of his Executive Orders.  IEP, along with several
IEP members, opposed the bill in committee, but noted commitments to working
with the author on language.

IEP counsel drafted comments which are attached.  PLEASE PROVIDE COMMENT BY
NOON ON MONDAY so that these changes may be considered by the author before
the next committee hearing.  The measure will go to the Assembly
Appropriations Committee next.

-- AB 60x (Hertzberg), which would have required, as a condition of
permitting a powerplant, developers to offer to sell the power to California
entities, was pulled from the Assembly ECA Committee hearing at the last
minute.  IEP is working with the Chair of the committee and the Speaker,s
office on appropriate language that would preferably not be tied to the
siting process but provide the needed political cover on this new, growing
&California First8 concept.  Any suggestions on how to deal with the
&California First8 issue is welcomed.

-- IEP, along with the other QF stakeholders, had an opportunity to brief
the Senate Energy Committee staff on SB 47x (Battin).  The measure will be
heard in the committee on Tuesday next week.

-- The Senate Environmental Quality committee met this week to hear SB 28x
(Sher/Battin) which makes various changes to the siting process including
many IEP-sponsored proposals.  So far this is the most comprehensive and
positive siting bill introduced, with the greatest chance of moving forward.
The bill passed out of the committee on a 7 to 0 vote even though most of
the environmental community testified in opposition.  Chris Ellison and I
are continuing to work with the authors, staff to develop additional
language which should be available before the measure is heard in the Senate
Energy Committee on Tuesday.

-- AB 45x (Kelley) also passed 7 to 0 out of the Assembly Revenue and
Taxation Committee this week.  AB 45x would extend the manufacturers
investment credit (MIC) to include the generation of electricity through the
use of solar, wind, geothermal, solid-fuel biomass, waste tire, municipal
solid waste, digester gas, or hydropower with a generating capacity of 30
megawatts or less.  The bill does not include a generator who produces
electricity for sale to a utility pursuant to a contract originally entered
into before January 1, 2001.  The committee staff estimates revenue losses
in the range of $5 to $10 million annually beginning in 2001-02. Sponsored
by CalEnergy, AB 45x will heard in the Assembly Appropriations Committee
next.

-- AB 36x (Wright), which would apply specified repower projects to the
6-month expedited siting process established in AB 970 (2000), passed out of
the Assembly Energy Costs and Availability Committee 17 to 0.  IEP testified
in support of the bill, noting we were still working with the author on
language.  IEP continues to believe that with the current language, few, if
any, projects would qualify and is working with staff on fixing that.
Recent conversations, however, with one of Asm. Wright,s staff indicates
Wright would be willing to drop the bill if the language IEP wants is
already in another measure (SB 28x).  Wright would then carry some other
siting language IEP supports and not in any other vehicle.  I will be
follow-up on this next week and welcome any suggestions.

-- ACR 4x (Cohn), which urges the CEC to move swiftly to license the Metcalf
Energy Center and to permit its construction., passed off the Assembly floor
71 to 0.  The measure, which has 5 primary authors and 42 co-authors, is
headed to the Senate a policy committee hearing.

-- A hearing in the Assembly Natural Resources Committee for AB 34x (La
Suer), which would make various changes to the siting process, including
some IEP-sponsored proposals, was put off again.  The author will be
accepting amendments that will make it a study bill in the special session.
The author will try to move the larger measure in its original form during
the regular session.

-- The Senate Energy Committee held an informational hearing on Energy
Market Reform this week.  Stakeholders, especially the generators, were
grilled on current market problems and solutions.  Senator Bowen, Chair of
the committee, was clearly unhappy with generator,s comments.  It is
unclear, however, how forthcoming her staff was regarding what participants
should have been prepare for in terms of the of the line of questioning that
came primarily from Senators Bowen and Dunn.  Bowen suggested she was going
to hold another hearing on the issue on a date to be determined later.

--  Attached is the most recent legislative tracking report of all the
special session bills introduced to date.  I have separated out the regular
session list of bills since the list was getting out of control.  I will
send that list under separate cover as I,m still plowing through the over
1,300 bills that were introduced last Friday.  Please let me know if you
need copies of any of these bills.

UPCOMING EVENTS:

MONDAY, March 5th
Senate Appropriations Committee
10 am, Room 4203
SB 39x (Speier) ) defines a generator as a utility

Assembly Energy Costs and Availability Committee
Subcommittee on Energy Oversight
2 pm, Room 4202
Info Hearing on Electricity Supply and Demand for Summer 2001.

TUESDAY, March 6th
Assembly Natural Resources Committee
10 am, Room 437
AB 55x (Pacheco) ) exempts CEQA for repowers.
AB 68x (Firebaugh) ) California First
ACR 2x (Cogdill) ) power production and long-term contracts

Senate Energy Committee
1:30 pm, Room 4203.
SB 28x (Sher/Battin) ) makes various changes to the siting process.
SB 47x (Battin/Keeley) ) QF bill

Assembly Energy Costs and Availability Committee
2 pm, Room 4202.

THURSDAY, March 8th
Assembly Natural Resources Committee
Room 437
AB 34x (La Suer) ) makes various changes to siting.

--end--

Julee Malinowski-Ball
Senior Associate
Edson + Modisette
916-552-7070
FAX-552-7075
jmball@ns.net

 - 2001 Tracking Report.doc
 - ab08x.IEP comments.doc


John

I'm out of town at a wedding that weekend but thanks for the invite.


----- Forwarded by Tana Jones/HOU/ECT on 05/10/2001 03:29 PM -----

	Mark Taylor
	05/10/2001 03:26 PM

		 To: Anne C Koehler/HOU/ECT@ECT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carol St Clair/HOU/ECT@ECT,
Cheryl Nelson/NA/Enron@Enron, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Greenberg/NA/Enron@ENRON,
Mary Cook/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT,
Samantha Boyd/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Stephanie
Panus/NA/Enron@Enron
		 cc:
		 Subject: Trader Training Sessions

Ken Raisler will be here on Monday, May 21 to conduct several training
sessions for the weather and steel trading desks.  If you can work it into
your schedule, please try and attend one or more of these sessions.  Brent
will have further scheduling details.

Mark


The docs are still coming - can you meet Monday at 10 am?  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 10/27/2000 05:16 PM -----

	"MURIEL McFARLING" <MCFAM@andrews-kurth.com>
	10/27/2000 04:32 PM

		 To: "David Barbour" <BARBD@andrews-kurth.com>, "DEBORAH LOWE"
<LOWED@andrews-kurth.com>, "MURIEL McFARLING" <MCFAM@andrews-kurth.com>,
"Danny Sullivan" <SULLD@andrews-kurth.com>, <Alan.Quaintance@enron.com>,
<annmarie.tiller@enron.com>, <bill.bowes@enron.com>,
<brenda.l.funk@enron.com>, <brent.vasconcellos@enron.com>,
<charles.delacey@enron.com>, <Gareth.Bahlmann@enron.com>,
<Gina.Karathanos@enron.com>, <sara.shackleton@enron.com>,
<Trushar.Patel@enron.com>, <lkao@mayerbrown.com>,
<mniebruegge@mayerbrown.com>, <tellwood@mayerbrown.com>, <kenton@rlf.com>,
<mark.wolf@us.cibc.com>, <mercedes.arango@us.cibc.com>,
<schottla@us.cibc.com>, <ARoberts@WilmingtonTrust.com>
		 cc:
		 Subject: Enron/Hawaii I

Attached, in WordPerfect, are the initial drafts of the closing documents
necessary for the new Hawaii I 125-0 facility.  The documents are marked
against the new Hawaii II 125-0 facility.

The attached documents are identified as follows:

Second Amended and Restated Trust Agmt (266236)
RADA (266238)
Beneficial Interest Certificate (266242)
Distribution Agreement (266243)
Subscription Agreement (266245)
Facility Agreement (266253)
Form of Sale and Auction Agmt (266256)
Form of Amended/Restated LLC of Asset LLC (266270)
Form of Amended/Restated LLC of Transferor (266276) and
Schedule to ISDA Master Agmt (266279)

Muriel C. McFarling
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, Texas 75201
(214) 659-4461
(214) 659-4784 (fax)

 - 266279.wpd
 - 266238.wpd
 - 266242.wpd
 - 266243.wpd
 - 266245.wpd
 - 266253.wpd
 - 266256.wpd
 - 266270.wpd
 - 266276.wpd
 - 266236.wpd


There was a discussion on this morning's call regarding the status of PUC actions regarding DA suspension.  We requested a legal opinion from out outside regulatory counsel.  It is attached.  If you have any questions, please don't hesitate to contact Sue Mara (415.782.7802) or me (415.782.7822).

Best,
Jeff
-----Original Message-----
From: MDay [mailto:MDay@GMSSR.com]
Sent: Monday, September 17, 2001 12:45 PM
To: 'Jeff Dasovich Enron SF'
Cc: 'Sue Mara at Enron SF'
Subject: Status of CPUC Proposed Decisions on Direct Access Suspension

Jeff:

At your request I am offering this memo to explain the status of the agenda
items before the CPUC on the issue of suspension of the direct access
program.  There are two pending draft decisions at this time, the first is
the proposed decision of ALJ Barnett (Item H-7 on the last agenda) which was
modified by a changed version submitted by Pres. Lynch at 2:45 pm on 9-5-01,
the day before the last meeting.  This version indicated that direct access
was suspended as of the date of the order (which would have been Sept. 6)
and states in another ordering paragraph that the utilities are to advise
their customers that the suspension is effective Sept. 6, 2001, specifically
naming that date.  This order would have been interpreted to suspend direct
access as of Sept. 6 if it had been voted out that day.  The other item,
Agenda Item H-7A on the last agenda, is the Bilas alternate decision which
calls for hearings to determine the impact of direct access on the issuance
of bonds, and does not suspend direct access at this time.

Please be advised that the suspension date contained in H-7 can and probably
will be changed before the orders are considered at the CPUC meeting on
Sept. 20.  Either the Sept 6 date will be changed to the 20th of Sept., or
some other specific date could be inserted at all the locations in the order
dealing with the suspension date.  All that is required to make this change
is the distribution of a changed page on the Escutia table before the
Commission meeting.  Thus, it is important for all direct access supporters
to continue to urge the Commission, especially Commissioner Brown, to
support a suspension date later than Sept. 6, because it is so easy for the
date to be altered under Commission procedures.

Please let me know if you require any additional information on this
subject.

Mike Day
Goodin, MacBride, Squeri, Ritchie & Day


kimberly:
any interest in accompanying me to maggi's bd party sat nite?


How kind of you and Enron to think about employees like myself who have lost
a beloved family member and who are having a hard time during this holiday
season.  Dr. Williams' session below was very helpful, and I ran into 3
fellow employees that I work  with that I didn't even know were going through
a similar situation.  Thank you very much.

Happy Holidays to you and yours.

---------------------- Forwarded by Marie Newhouse/Corp/Enron on 12/07/2000
06:05 PM ---------------------------

	From:  Corporate Benefits                           12/04/2000 08:07 PM

Sent by: Enron Announcements
To: All Enron Downtown
cc:

Subject: Brown Bag - Dr. Kelly Williams


Attached is the form interconnection agreement provided by Virgina Power, for
your information, review, etc. It is a new form which is currently under
review by VEPCO.

Kay


Rick, Sue and Jeff:   In our effort to communicate news to employees about
Enron's deregulation efforts and what we're doing in California, Steve Kean
agreed that we should publish an in-depth story in Enron Business (April
issue).  I have contacted one of our writers, Don Anderson.  He will call or
e-mail you in a day or two to set up a convenient interview time.  Rick,
please give Don the names of other contacts to interview, if needed.

Thanks.

Mary


Mr. Brown:
At Laird's request, I am forwarding to you a draft if the ISDA and CSA
Schedules.  We need more information from you concerning our counterparty
such as exact legal name, type of entity, state/country of incorporation
etc.  as apparently we could not tell from the financials what type of entity
it is.  This may require some changes to the enclosed drafts, but nothing
major.  We look forward to hearing from you after you have had a chance to
review the enclosed drafts.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Kurt Wipp is a recent hire in our London office to focus on
origination/mid-market opps.  Kurt joins us after 15+ yrs w/ Methanex.  I've
asked him to spend next week or so in Houston introducing himself to all the
traders, originators, finance, RAC, Legal, etc...  I have given him most of
your names and he will probably be contacting you to try and set up some time
to meet.  My assistant, Beth Ryan, may also be coordinating some of the
meetings.  Please take time to visit w/ him, even if only briefly and help
him better understand your markets, perspectives, goals and objectives.  It's
important that in addition to Kurt developing an understanding of our
business strategies/opportunities that he also develop and accelerate his
"Enron DNA."  Thanks in advance!


John,

Could you please check whether the following HSC Gas Curve reflects our
forward forecast about two months ago? (I am not quite sure from Chu Chu's
model on what exact date he got the curve from the desk.  We believe it is
about two months ago.)

2001 3.70
2002 3.20
2003 2.96
2004 2.91
2005 2.90
2006 2.91
2007 2.93
2008 2.96
2009 3.00
2010 3.05
2011 3.11
2012 3.19
2013 3.27
2014 3.36

Thanks!

Ying
X 57350

John Griffith
11/30/2000 01:19 PM
To: Ying Liu/NA/Enron@ENRON
cc: Heather Kendall/HOU/ECT@ECT

Subject: Re: Houston Ship Channel Gas Curve

Ying,

Here are the yearly curves for Houston Ship Channel.  These are indicative
curves from 11/29/00.  They do not include the trader's bid/offer, or any
costs that may be incurred in getting the gas to the plant.

Please let me know if you have any questions or concerns.  Thanks.

John


Jim,

 Thanks a lot for great basket - I just got it.  We'll call on Monday.

Errol


FYI


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Get me the roll off schedule for cnr over the next couple of years.  Canada used to do this for me.


Sara,
Sorry, I was too assiduous in deleting what I thought would be duplicated on
this thread, so I'm working from memory on comments before Guenther's last
contribution.

Data for pricing is owned by Enron Credit Ltd (generated by employees of
Enron Power Operations Ltd whose costs are charged to ECL)
Information deals are done with ECL (Derivative transactions are currently
with Enron North America Corp, probably with Enron Credit Inc in the future)
The Enron staff who would be looking at this are employed by Enron North
America Corp which is why I suggested ENAC as the named party.
They clearly act for ECL on information deals.
If it's OK to use ECL then that would be easier for us.

I have no objections to suggestions that I should be promoted! In the
meantime, I am a board director of ECL and have both legal and group
management authority to sign contracts (with a lawyer's initials being a
prerequisite).

Regards,
Richard

From: Sara Shackleton on 16/02/2001 08:44 CST
To: Guenther Klar/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT

Subject: Re: Confidentiality Agreement with Scana

Guenther:

Thanks for the response.  I'll wait to hear from Richard Sage as to who owns
the information.
Only officers at the VP level or higher may execute binding contracts for all
Enron U.S. companies (bylaws).  I do not know the "rule" for non-U.S.
companies (although I suspect the articles of association would contain that
information).

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

	Guenther Klar
	02/16/2001 08:24 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Janine Juggins/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 Subject: Re: Confidentiality Agreement with Scana

Sara

You are right about the tax issue - in fact, we are in the process of
replacing the UK directors and officers of Enron Credit Inc with US directors
and officers.

The entity that signs up to the confidentiality agreement ought to be the one
that owns the information to be supplied.  Based on conversations I have had
with Richard Sage, I had formed the impression that the owner of the
information was Enron Credit Ltd.  If this is right, we should pursue your
first suggestion.  Otherwise, given that the tax issue is being rectified and
this should therefore be an isolated incident, I think we can wear the tax
risk inherent in your second suggestion.  Though I do wonder whether an
officer of Enron Credit Inc, such as Richard Sage (currently), could sign,
rather than a director?

Kind regards

Guenther Klar


-----Original Message-----
From: Heizenrader, Tim
Sent: Tuesday, September 25, 2001 1:33 PM
To: Lavorato, John; Allen, Phillip K.; Grigsby, Mike; Zufferli, John
Cc: Belden, Tim; Swerzbin, Mike; Richey, Cooper
Subject: Western Briefing Charts
Importance: High

Charts for today's presentation are attached:


most bullish thing at this point is moving closer to everyone's
psychological $4 price target and that everybody and their dog is still
short.  next sellers need to be from producer community.  saw a little this
week with williams hedging the barrett transaction but wouldnt say thats
indicative of the rest of the e&p community.  short covering rallies will
get more common here.  velocity of move down has slowed significantly for
good (except maybe in bid week).  my concern is if we go to $4 and people
want to cover some shorts, who's selling it to them?  might feel a lot like
it did when we were trying to break $5.


Steve and Rick,

Please find attached the SoCal IM excerpts relating to regulatory issues.  I
will forward the response we have received from Tozzini's firm relating to
CEG/Riogas, Elektro, the two Gaspart entities.

Regards,
Donnie Roark

-----Original Message-----
From: Roark, Donnie
Sent: Wednesday, March 22, 2000 1:26 PM
To: George, Robert (Enron)
Subject: FW: Attached Files

Robert,

These are the excepts from the IM dealing with regulatory issues which we
sent to Brazil for review.  Jose Amelio Pinto stated that his firm had only
worked on a few of the deals and consequently he and his attorneys were only
able to review two of the Gaspart entities, Elektro, CEG and Riogas.  I have
been unable to get in touch with Jose Martinez de Hoz in Argentina and
Ramiro Guevara Rodriguez in Bolivia.  Shelley Barber and Randy Young are
also following up on local counsel issues, but I do not know the status of
their progress as of this afternoon.

 - Transredes - excerpt.DOC
 - BBPL - excerpt.DOC
 - Strategic overview of natural gas distribution  - excerpt.DOC
 - Riogas  - excerpt.DOC
 - Gaspart - excerpt.DOC
 - Brazilian - Power Generation Overview  - excerpt.DOC
 - Cuiaba II - excerpt.DOC
 - Elektro - excerpt.DOC
 - 167111_1.doc


Tom,

Greg's phone number is 713 853 5220. He is very difficult to reach
(frequent trips).

You may find this information useful: Greg is a West Point graduate
and spent a few years in the  military, before obtaining an MBA from Stanford.
He is a very dynamic person and a very pragmatic thinker.

I hope you have a great holiday weekend.

Vince

"Piazze, Thomas" <piazzet@wharton.upenn.edu> on 06/29/2000 08:51:48 AM
To: "'Vince J Kaminski'" <Vince.J.Kaminski@enron.com>
cc: "Gerrity, Thomas" <gerrity@wharton.upenn.edu>, "Lohse, Gerald Lee"
<lohse@wharton.upenn.edu>, "Wind, Yoram" <windj@wharton.upenn.edu>, "Harker,
Patrick" <harker@wharton.upenn.edu>, "Amit, Raffi" <amit@wharton.upenn.edu>,
"'shankman, jeff'" <Jeffrey.A.Shankman@enron.com>, "MacMillan, Ian"
<macmilli@wharton.upenn.edu>
Subject: RE: B2B at Enron

Vince:  Thanks for this message and update on your recent actions to
establish a closer research relationship between Enron and Wharton.  We are
anxious to work with your firm on many fronts and appreciate all that you
and Jeff Shankman are doing to facilitate closure on a number of
initiatives.

The below article is very interesting and reinforces the entrepreneurial
culture of Enron; it also points out one more reason why our faculty is so
interested in collaborating with you and other executives as the company
moves into this new space.

I would like to call Greg Whalley after the 4th of July weekend to establish
contact and begin a dialogue regarding his interest in joining our efforts
as a Corporate Partner. Will you please provide me contact information?

Please let me know if there is any additional information or material you
will need prior to your meeting with Jeff Skilling.  We are anxious to learn
how he responds to your suggestions.

Thanks again for all that you are doing.  Hope you have a great 4th of
July!!

TOM

> -----Original Message-----
> From: Vince J Kaminski [SMTP:Vince.J.Kaminski@enron.com]
> Sent: Wednesday, June 28, 2000 9:53 AM
> To: piazzet@wharton.upenn.edu
> Cc: Vince J Kaminski
> Subject: B2B at Enron
>
>
>
> Tom,
>
> I am sending you the information about our new B2B unit.
> I have talked yesterday with Greg Whalley who is heading the new
> unit about the E-commerce project at Wharton and recommended that Enron
> join
> this program.
>
> I have sent him this morning a copy of the materials you gave me.
>
> The meeting with Jeff Skilling has been pushed till the 2nd half of July.
> I talked to him briefly twice that Jeff Shankman and I want to discuss
> with
> him building a relationship with Wharton. Jeff Shankman is, by the way, a
> great
> friend of
> your institution.
>
>
> Vince
>
> **************************************************************************
> ***************************
>
>   COMPANIES & FINANCE: THE AMERICAS: Enron sees bricks and
>                        bytes mix reshaping energy market: Purchase of MG
> only a
> start in
>                        building B2B platforms, writes Hillary Durgin:
>
>
>
>
>                     COMPANIES & FINANCE: THE AMERICAS: Enron sees bricks
> and
> bytes
>                     mix reshaping energy market: Purchase of MG only a
> start in
> building
>                     B2B platforms, writes Hillary Durgin:
>                     99% match; Financial Times ; 16-Jun-2000 12:00:00 am ;
> 604
> words
>                     By HILLARY DURGIN
>
>                     If Jeffrey Skilling is right,
>
>                     Enron's acquisition of MG is only the tip of the
> iceberg.
> Enron's president and
>                     chief operating officer is engineering a fundamental
> strategy shift at the
>                     Houston energy company, aimed at making it a dominant
> "new
> economy"
>                     player across various industrial markets.
>
>                     The Dollars 446m acquisition last month of MG, the
> UK-based
> metals trader,
>                     is only the first of more than Dollars 1bn in
> estimated new
> investments the
>                     company is targeting. It is seeking vehicles on which
> to
> build
>                     business-to-business (B2B) platforms in sectors such
> as
> logistics, chemicals,
>                     agricultural products and pulp & paper.
>
>                     Mr Skilling wants to take the business model the
> company
> developed in
>                     natural gas and power and apply it to other wholesale
> commodity markets. He
>                     argues the electronic platforms it creates will not
> only
> become the principal
>                     B2B sites for those sectors, but reshape those
> industries.
>
>                     As an example, he points to Enron's new e-commerce
> platform,
>  EnronOnline,
>                     which has changed the way the company does business
> with its
>  customers
>                     while significantly increasing sales.
>
>                     The company - the largest wholesale merchant of
> natural gas
> and power - saw
>                     wholesale, physical deliveries of natural gas surge 53
> per
> cent in the first
>                     quarter.
>
>                     Critics argue that Enron's move away from its familiar
> energy business into
>                     new industries, where the learning curve is steep and
> the
> competition
>                     entrenched, is risky. Yet a number of industry
> analysts
> point out Enron has
>                     proved it understands markets and how to manage risks
> while
> becoming the
>                     largest importer of coal in the UK, the largest trader
> of
> gas and power in the
>                     US and grabbing an advantage in bandwidth.
>
>                     "It's a prudent strategy, but it's got to be done in
> an
> orderly way," says Ronald
>                     Barone, analyst with Paine-Webber in New York. "What
> they're
>  doing here is
>                     what they've been incredibly successful at doing," he
> adds,
> noting that Enron
>                     posted Dollars 1.3bn in earnings before interest and
> taxes
> (ebit) from its
>                     wholesale energy and services business in 1999, up 34
> per
> cent from the
>                     previous year.
>
>                     Earnings from that division accounted for two-thirds
> of the
> company's overall
>                     income before interest and taxes last year, and Mr
> Barone
> sees the unit's ebit
>                     increasing 15-30 per cent annually over several years.
>
>                     As with gas and power and now broadband, where Enron
> is
> standardising
>                     contracts and creating a market in bandwidth, it wants
> to
> create markets by
>                     entering as a physical player and providing merchant,
> risk
> management and
>                     financial services over the internet.
>
>                     "We will provide electronic commerce, but we will
> provide
> liquidity and we will
>                     provide settlement, or fulfilment of that contract,"
> Mr
> Skilling says. "That is an
>                     extremely powerful model. If you look at other B2B
> sites,
> they don't do that."
>
>                     Mr Skilling argues Enron's e-commerce platform will
> triumph
> over the other,
>                     bulletin board-type exchanges, where striking a deal
> depends
>  on two parties
>                     hooking up and working through uncertainties over
> timing,
> price, credit and
>                     fulfilment.
>
>                     Not everyone shares that view. Some energy companies,
> for
> example, would
>                     rather not do business with a competitor. BP Amoco
> recently
> purchased a 3
>                     per cent stake in Altra Energy Technologies, a
> Houston-
> based, neutral
>                     wholesale energy exchange. With Koch Industries and
> American
>  Electric
>                     Power, it also committed to carry out a fixed volume
> of
> transactions on the
>                     site to lend it liquidity.
>
>                     Just as in gas and power and now broadband and metals,
> Enron
>  believes it
>                     needs networks of strategic physical assets. In
> acquiring
> MG, Enron got a
>                     stable of warehouses, lending it a strong physical
> position.
>
>
>                     "It should provide (MG) with a more vibrant, more
> active
> physical spot market
>                     in more markets in the world," says Greg Whalley,
> chief
> executive officer of
>                     Enron Net Works, the new division Enron is launching
> to
> identify and enter
>                     commodity markets. He argues that in metals and other
> markets, Enron will
>                     deliver better pricing, price risk management
> services,
> cross-commodity
>                     transactions and flexible transactions for a wider
> range of
> customers.
>
>                     Mr Skilling says there are significant rewards for
> restructuring an industry.
>
>                     "If you can take that platform, and you use the
> capabilities
>  the bricks bring to
>                     the table, e-commerce the industry and change the
> structure,
>  you're selling for
>                     more than a 50 multiple."
>
>                     Copyright , The Financial Times Limited
>


this is AWESOME!!!!

Theresa Zucha
Enron North America Corp.
1400 Smith St., EB3884
Houston, TX  77002
Phone:  713/345-4582
Fax:  713/646-3490

This is awesome!!!!!!!!!!!!!

 > Subject: Keep this going Please
> >
> >
> > --In memory of all those who perished; the passengers and the crews
on
>the
> > United Air Lines and American Airlines flights, the workers,
tourists,
>fire
> > fighters, police officers, EMT's and any others in the World Trade
>Center
> > and the Pentagon, and all the innocent bystanders. Our prayers go
out to
> > the friends and families of the deceased.
> >
> >     IF I KNEW.....
> >
> >     If I knew it would be the last time
> >    That I'd see you fall asleep,
> >    I would tuck you in more tightly
> >    and pray the Lord, your soul to keep.
> >
> >     If I knew it would be the last time
> >    that I see you walk out the door,
> >    I would give you a hug and kiss
> >    and call you back for one more.
> >
> >     If I knew it would be the last time
> >    I'd hear your voice lifted up in praise,
> >    I would video tape each action and word,
> >    so I could play them back day after day.
> >
> >     If I knew it would be the last time,
> >    I could spare an extra minute
> >    to stop and say "I love you,"
> >    instead of assuming you would KNOW I do.
> >
> >     If I knew it would be the last time
> >    I would be there to share your day,
> >    well I'm sure you'll have so many more,
> >    so I can let just this one slip away.
> >
> >     For surely there's always tomorrow
> >    to make up for an oversight,
> >    and we always get a second chance
> >    to make everything just right.
> >
> >     There will always be another day
> >    to say "I love you," and certainly there's
> >    another chance to say our "Anything I can do?"
> >    But just in case I might be wrong,
> >    and today is all I get,
> >    I'd like to say how much I love you
> >    and I hope we never forget.
> >
> >     Tomorrow is not promised to anyone,
> >    young or old alike,
> >    And today may be the last chance
> >    you get to hold your loved one tight.
> >
> >     So if you're waiting for tomorrow,
> >    why not do it today?
> >    For if tomorrow never comes,
> >    you'll surely regret the day,
> >
> >     That you didn't take that extra time
> >    for a smile, a hug, or a kiss
> >    and you were too busy to grant someone,
> >    what turned out to be their one last wish.
> >    So hold your loved ones close today,
> >    and whisper in their ear,
> >    Tell them how much you love them
> >    and that you'll always hold them dear
> >
> >     Take time to say "I'm sorry,"
> >    "Please forgive me," "Thank you," or "It's okay."
> >    And if tomorrow never comes,
> >    you'll have no regrets about today.
> >
> >     Send this to at least 10 people to show your support.
> >    DON'T BREAK IT!!!!!!
> >
> >
> > Author unknown...
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
> >
>

_________________________________________________________________
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Calender.

 -----Original Message-----
From: 	Buckley, Karen
Sent:	Monday, June 11, 2001 11:03 AM
To:	Allen, Phillip K.; Arnold, John; Aucoin, Berney C.; Bentley, Corry; Davis, Mark Dana; Gaskill, Chris; Gilbert-smith, Doug; Grigsby, Mike; Herndon, Rogers; Lavorato, John; Martin, Thomas A.; McMichael Jr., Ed; Neal, Scott; Presto, Kevin M.; Schwieger, Jim; Shively, Hunter S.; Sturm, Fletcher J.; Superty, Robert; White, Stacey; Will, Lloyd; Gossett, Jeffrey C.; Black, Don
Cc:	Hillis, Kimberly; Engler, Adrianne; Hogan, Irena D.; Black, Tamara Jae; Jackson, Brandee; Arteaga, Airam; Rangel, Ina; Bryant, Rachel; Roberts, Chaun; Bates, Kimberly; Vuittonet, Laura; Irvine, Geraldine; Jones, Melissa; Kitchen, Daryl
Subject:	FW: Meeting: Tuesday - Trading Track Rotations

Pls note that the meeting will now take place in the Executive Boardroom on the 50th Floor.  Attached is further update per this am.

 -----Original Message-----
From: 	Buckley, Karen
Sent:	Friday, June 08, 2001 3:19 PM
To:	Allen, Phillip K.; Arnold, John; Aucoin, Berney C.; Black, Don; Bentley, Corry; Davis, Mark Dana; Gaskill, Chris; Gilbert-smith, Doug; Gossett, David; Grigsby, Mike; Herndon, Rogers; Lavorato, John; Martin, Thomas A.; McMichael Jr., Ed; Neal, Scott; Presto, Kevin M.; Schwieger, Jim; Shively, Hunter S.; Sturm, Fletcher J.; Superty, Robert; White, Stacey; Will, Lloyd
Cc:	Hillis, Kimberly; Engler, Adrianne; Hogan, Irena D.; Black, Tamara Jae; Jackson, Brandee; Arteaga, Airam; Rangel, Ina; Bryant, Rachel; Roberts, Chaun; Bates, Kimberly; Vuittonet, Laura; Irvine, Geraldine; Jones, Melissa; Kitchen, Daryl
Subject:	Meeting: Tuesday - Trading Track Rotations

All,

A Trading Track meeting is scheduled for Tuesday, June 12th at 3.00 pm , conference room 3321 to discuss:

Existing Participants:		Current/Future Rotations/ expected graduation dates
New Hire:			Future Rotations/expected graduation dates

Attached for your review is the updated rotational list (I have included previous rotations as per a request)

Kind Regards,

Karen B.
x54667


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calendar and meeting file
----- Forwarded by Steven J Kean/NA/Enron on 02/11/2001 02:28 PM -----

	Jana Mills@ECT
	02/09/2001 04:16 PM

		 To: Marty Sunde/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, William S
Bradford/HOU/ECT@ECT, Shirley A Hudler/HOU/ECT@ECT
		 cc: Dan Leff/HOU/EES@EES, Rick Buy/HOU/ECT@ECT, Karen K
Heathman/HOU/ECT@ECT, Mercy Gil/NA/Enron@Enron, S, Kathy Dodgen/HOU/EES@EES,
Peggy Mahoney/HOU/EES@EES
		 Subject: CalPERS Conf Call (Feb 15)

Sorry for the confusion. This call will take place at 11:30 am (Houston time).

Thank you
Jana
----- Forwarded by Jana Mills/HOU/ECT on 02/09/01 04:10 PM -----

	Jana Mills
	02/09/01 02:51 PM

		 To: Marty Sunde/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, William S
Bradford/HOU/ECT@ECT, Shirley A Hudler/HOU/ECT@ECT
		 cc: Dan Leff/HOU/EES@EES, Rick Buy/HOU/ECT@ECT, Karen K
Heathman/HOU/ECT@ECT, Mercy Gil/NA/Enron@Enron, S, Kathy Dodgen/HOU/EES@EES,
Peggy Mahoney/HOU/EES@EES
		 Subject: CalPERS Conf Call (Feb 15)

The following numbers are to be used for the conference call mentioned
above.  A conf room will be designated Monday.

Thurs. Feb. 15th

Dial in :   1-888-380-9636
Host:  721367 (Shirley Hudler only)
Part:   699749

Thanks
Jana


FYI -

I've created a spreadsheet that will track APS line losses our group has incurred and paid back. This will allow us to see at a glance the month's transmission purchases and what it's cost us to purchase power in order to pay APS back physically. Keep in mind that loss volumes are calculated as 2.5% of the total volume of transmission purchased in a given period.

I will maintain this spreadsheet, and you're encouraged to reference it at your leisure. Please let me know if you have questions.

Thanks,
Kate


it is a certain guy that checks out at natsource, sometimes i wonder about
him.  and the thing of it is, is that if they knew it wasn't ours, why didn't
he call to tell me.  they don't care......thats just the way it goes with
those brokers.  thanks again.

   Kate Symes @ ECT                03/13/2001 04:47 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: natsource checkout

Thank you! I was so baffled for a minute there - when I said "April option"
every trader just looked at me like I was crazy!

Kate

Kerri Thompson@ENRON
03/13/2001 02:53 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: natsource checkout

i just called the backoffice at natsource, the brokers weren't answering.
and apparently it is not a good deal.  so don't worry about it.  thanks.

   Kate Symes @ ECT                03/13/2001 04:41 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: natsource checkout

Natsource is going to have to give you a trader name on this because I've
asked all of them and nobody recognizes it.

Kate

Kerri Thompson@ENRON
03/13/2001 02:29 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: natsource checkout

missing deal
trader?

call
buying tractebel
april
pv
250.00 strike
9.00 prem
25 mw


Reminder - If you are working on a Master Netting Agreement, you also need to understand what type of entities are being included in the netted group.  On the power side, there are regulatory restrictions on a regulated utility from becoming a guarantor of the debts of unregulated companies;  accordingly,  an MNA with a regulated utility and other unaffiliated parties on its side will not work, particularly if you are posting collateral on a fully netted basis.  In this case, the only option would be to keep the underlying margining agreements in place (no new global collateral annex) and have the MNA only be a cross default and acceleration and  possible setoff (just in case the money is going the right way and/or just in case it works).  Mary is working on a new draft of the MNA to be used if we are not superceding the underlying margining terms. Thanks

Elizabeth Sager
713-853-6349


Vince:

I am disappointed to hear that the interest on the part of your internal
users has waned.  We have made a lot of progress since you and they last
reviewed it, completing and finalizing our

.  short term North American gas model and data base (which endogenizes
storage into a Continent-wide zero arbitrage solution)

.  long term North American gas model and data base (which drills wells
and builds pipe and calculates equilibrium given such decisions)

.  short term North American electric model and data base

.  long term North American electric model and data base (which tells
you precisely where on a nodal basis all forward power plant
construction will and should occur.  The model builds the right amount
of capacity in the right place at the right time)

.  Western European gas model and data base

.  World Gas Trade model and data base

.  World Oil Model and data base

We are striving to have the definitive economic modeling system so that
companies like Enron can incorporate and proprietize your own "private
knowledge" in combination with our general knowledge.

Vince, I wanted to raise another issue with you.  Now that MarketPoint
is developed and operational and (hopefully) the leading technology
available for dynamic microeconomic market modeling, I perceive that
that it has more value as an acquisition play by a major player such as
Enron than it does as "just another commoditized model" supported by a
"play for pay" consulting firm such as Altos who is continually hounding
internal users for license and consulting fees.  My goal from the outset
has been to use my traditional consulting base to capitalize the best
tool in the industry and when the tool is complete to seek acquisition
or investment by someone who can make a lot of money by proprietizing
it.  After a substantial development period here in the Silicon Valley
(a very good place to develop software--that is why we were here),
MarketPoint is just now arriving at the point of seeking equity
investment or outright acquisition by a major player who can proprietize
and benefit internally from MarketPoint as well as potentially enhancing
the customer value from e-commerce verticals such as enrononline.com.

When you and I had breakfast at the Hyatt about a year ago, you
expressed the sentiment that Enron wants to be able to proprietize and
husband technology such as MarketPoint (rather than seeing it licensed
to everyone) so that you can comfortably augment it with your
competitive advantage.  We are at the point where we want to talk
seriously with you and a selected few others about that.  That is why I
want to speak with you next Friday.

1.  Could we really sell MarketPoint to a single entity such as Enron
and take it off the market?  Without elaborating, our licenses are
structured so that we can do that.

2.  Is the MarketPoint genie out of the bottle with licensees; would
they know how to replicate it?  Not a chance, we have protected the
source code and the critical technical documentation and concentrated it
three people in the world.  (They issue technical tasks on a piecemeal
basis.)  It is extremely tough to do it.

3.  Can MarketPoint run tens, hundreds, or thousands of fundamentally
based forward market scenarios and thereby generate a continuously
refreshed, extensive forward joint probability density function over
price?  We have just completed development of our Enterprise/LAN
version, which fully parallelizes our calculations and renders the
number of processors and the MIPS we can access over the intranet or
internet essentially limitless.  MarketPoint can now automatically "farm
out" its microeconomic calculations across processors on a huge network
and make all its calculations in parallel.  This means that you can
actually run a continuous, fundamentally based, automatic-feed forward
probability density function calculation over gas price or over
electricity price by region by time and a few seconds or minutes
depending on how many processors reside within your network.  Without
parallelization, this simply cannot happen.  Think of the magnitude of
competitive advantage this could bring to Enron if you can proprietize
it.  You are one of a handful of organizations who could really monitize
that.

4.  How large or detailed a model can you run?  With its tremendous
degree of parallelization (under our algorithm, every node can be a
parallel activity), our LAN Enterprise Version allows models of
essentially unlimited size to be solved through parallelization very
quickly and efficiently.  The models are highly modularized (individual
network nodes linked together) and therefore can be expanded and run
efficiently.

5.  Are the MarketPoint development risks gone?  Yes, we have been
offering MarketPoint under stand alone commercial license for a few
months.  The gas, electricity, and oil models all demonstrably work, and
we have a number of test and demonstration cases.  I have been waiting
until this was true before looking for an investor.  While there are
maintenance costs and tasks to be done forever, there are no more known
development costs or risks.

6.  Does MarketPoint work for other commodities?  Yes.  MarketPoint can
help you avoid difficulties of the past across a broad range of
commodities and guide your businesses in such commodity areas with
workable, fundamental models of those industries.  MarketPoint is
designed to give you early warning flags and guidance in commodity
oriented business including but not limited to energy.

7.  What would be your role?  If Enron proprietized MarketPoint, I have
the feeling you would probably inherit technical responsibility and
could safely leverage MarketPoint into your group, secure in the
knowledge that it is truly proprietary to you and Enron and would not be
in the hands of Enron competitors.  I should think that if Enron were
interested, someone else's budget would acquire it and you would get it.
Yours is one of a handful of groups in the world with whom I would want
to work because you have the sophistication to make progress.

8.  Is it really realistic to sell MarketPoint?  It is realistic.  Only
two people (Mark Nickeson and I) own over 90 percent of the capital
stock in MarketPoint, and there are no outstanding options,
encumberances, or other impediments.  We own it outright, and we have
the ability and disposition to move.  That is the beauty of capitalizing
it as we have with consulting dollars--we paid people with MONEY rather
than with stock, and we ended up owning the stock and the flexibility
and value such ownership affords.  We don't have to deal with employees
or venture capitalists; we have autonomy of action.

These are the issues I would like to speak with you about next Friday if
you are interested.  I would anticipate that this is a not decision that
you alone will make within Enron, but I wanted to lay this out for you
and if you are interested and amenable work together to present it to
the right people in your organization.  I need to get started in the
right way with the right Enron people, and I would appreciate your
support if you are so disposed.

There is one additional issue as well.  Would you, Krishna, and your
guys be prepared to enthusiastically endorse MarketPoint if I were to
interest an internal Enron group in using or licensing it?  (If so, I
would be prepared make MarketPoint available to you and your group under
their license and train you to use it at no additional cost to you.  I
am confident if I could get MarketPoint into your hands, it would be
win-win for you and for us.)  The reason I am asking is that I have the
opportunity to brief one of your operating groups who has expressed
interest (through another consulting company) in one of the MarketPoint
models.  Before doing that, I want to be confident that you, Krishna,
and your group are enthusiastic supporters and endorsers of MarketPoint
if one of your inhouse groups is interested in spending the resources to
move forward.  Please advise by email or when we get together.

All the best.  Give me an email shout or voice shout at my cell
650.218.3069 on Monday if you can.  Thanks for your consideration.

Dale Nesbitt

-----Original Message-----
From: Kaminski, Vince J [mailto:Vince.J.Kaminski@ENRON.com]
Sent: Friday, September 28, 2001 5:17 AM
To: dale.nesbitt@marketpointinc.com
Cc: Krishnarao, Pinnamaneni
Subject: RE: Meeting on Friday to Discuss MarketPoint?

Dale,

Thanks for your message.

We don't see at this point any interest from our internal users in
proceeding with
licencing of MarketPoint. I shall stay in touch with you and will notify
you if there is any change.

Vince

>  -----Original Message-----
> From: 	"Dale M. Nesbitt" <dale.nesbitt@worldnet.att.net>@ENRON
> [mailto:IMCEANOTES-+22Dale+20M+2E+20Nesbitt+22+20+3Cdale+2Enesbitt+40w
> orldnet+2Eatt+2Enet+3E+40ENRON@ENRON.com]
> Sent:	Friday, September 28, 2001 2:02 AM
> To:	Kaminski, Vince J
> Cc:	Krishnarao, Pinnamaneni
> Subject:	Meeting on Friday to Discuss MarketPoint?
>
> Vince:
>
> Would you and Krishna be available to talk about MarketPoint and Enron
> on Friday October 5 after lunch, say 130?  Give an email shout to
> confirm.  Thanks.
>
> Dale Nesbitt
>

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


FYYI
-----Original Message-----
From: Taylor, Sarah
Sent: Monday, November 26, 2001 11:21 AM
To: Hayslett, Rod
Subject: FW: Red Rock additions
Importance: High

-----Original Message-----
From: Hayslett, Rod
Sent: Sunday, November 25, 2001 3:18 PM
To: Taylor, Sarah; 'haysletr@txucom.net'
Cc: 'sdesai@idriveonline.com'; Desai, Jayshree
Subject: RE: Red Rock additions
Importance: High

FYI.    This is my story for now, but I think it explains the volumes and the rates as well as the revenue projections.   Please note we have found a bust in 2002 revenue.   This yields a higher answer without any additional volumes being used.

-----Original Message-----
From: Taylor, Sarah
Sent: Sun 11/25/2001 3:04 PM
To: Hayslett, Rod; 'haysletr@txucom.net'
Cc: 'sdesai@idriveonline.com'; Desai, Jayshree
Subject: Red Rock additions

<<Exisiting capacity projections w. Red Rock.xls>>


Carol:

Here is the latest EBS telecom master.

Marie

 -----Original Message-----
From: 	Parnizari, Lori
Sent:	Thursday, August 02, 2001 4:44 PM
To:	Heard, Marie
Subject:	New MSA


they are crazy but mite have to scale in which i have a little and have some
sort of length on,sprd length in the front to hedge weather risk-if ny stays 5
bucks or so above hub seems hard to think jan /feb gonna fall much. also know
aron and some of them "pre rolled" jan/feb goldman rolls not sure if they bot
em
back, start pxing tomorrow.doubt they have much any impact on the sprd.
    am a bit worried as are most what we must be doing to industrial
demand,switching at huge px sprds. tend to think ealry mid jan y on y stx gap
will fall do to aforementioned and rationing this mkt gonna fall-who knows
from
what levels?? thots when you have a chance. distillate mkt save for addional
demand it shud be getting from natgas switching wud have been in trouble i
think
so it will stay discount to gas

John.Arnold@enron.com on 12/07/2000 06:38:53 AM

To:   Steve LaFontaine/GlobalCo@GlobalCo
cc:
Fax to:
Subject:  re:summer inverses

seems crazy.  if you're willing to ride it for a few cents against you it's
a great trade.  who knows where they're going in th eshort term though

slafontaine@globalp.com on 12/01/2000 09:57:30 AM

To:   John.Arnold@enron.com
cc:
Subject:  re:summer inverses

johnnny-you think these inverses ready to get sold yet? to me its all a
timing
issue but aug/oct at 4-5 cts seems rich rich for injection season. only
issue is
when to go?