See attachment.
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/17/2001 09:27
AM ---------------------------

Kay Mann
11/03/2000 11:00 AM
To: ppipitone@andrews-kurth.com, pthompson@andrews-kurth.com
cc:

Subject: RE: Revised Change Order #4

---------------------- Forwarded by Kay Mann/Corp/Enron on 11/03/2000 11:03
AM ---------------------------

"Shoemaker, Kent (GEAE)" <kent.shoemaker@ae.ge.com> on 11/02/2000 05:03:37 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>, "Shoemaker, Kent (GEAE)"
<kent.shoemaker@ae.ge.com>
cc:

Subject: RE: Revised Change Order #4

sorry

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Thursday, November 02, 2000 6:02 PM
To: Shoemaker, Kent (GEAE)
Subject: Re: Revised Change Order #4

Kent,

There isn't anything attached that I can open.  Am I doing something wrong?

Kay

"Shoemaker, Kent (GEAE)" <kent.shoemaker@ae.ge.com> on 11/02/2000 04:42:40
PM

To:   "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>, "Johnson, Lee L (PS,
      SSEP)" <lee.johnson@ss.ps.ge.com>
cc:   "'aivancovich@andrews-kurth.com'" <aivancovich@andrews-kurth.com>

Subject:  Revised Change Order #4

Here is the Change Order number 4 that I should have sent out earlier.
Lee,
stated on the phone call today that there may be additional comments, so
please reply to all if there are so we can revise the Facility Agreements
accordingly.

Kent

-----Original Message-----
From: Shoemaker, Kent (GEAE)
Sent: Wednesday, November 01, 2000 4:21 PM
To: 'Kay.Mann@enron.com'
Subject: RE: GE Contract

Didn't I tell you - I love outside counsel!!!

See you tomorrow
Kent

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, November 01, 2000 4:20 PM
To: Shoemaker, Kent (GEAE)
Subject: RE: GE Contract

CST.  That was right, right?

I'm going to have the outside lawyer involved for the purpose of turning
the revised draft, so long as you don't have an objection
(objecting=volunteering to turning the next draft!)

Kay

"Shoemaker, Kent (GEAE)" <kent.shoemaker@ae.ge.com> on 11/01/2000 03:11:13
PM

To:   "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject:  RE: GE Contract

Is that 3:30 CST? If so, I'll be ready.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, November 01, 2000 4:08 PM
To: Stuart.Zisman@enron.com; kent.shoemaker@ae.ge.com;
Ben.Jacoby@enron.com; lee.johnson@ss.ps.ge
Subject: GE Contract

Gentlemen:

Attached is a draft of the facility agreement, without reference to WestLB.
It just came in, so I haven't reviewed it.

It looks like 330 tomorrow will work for this group, unless you tell me
otherwise.  I'll get back to you with the location.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/01/2000 03:04
PM ---------------------------

"Cope, Lori" <loricope@akllp.com> on 11/01/2000 03:00:50 PM

To:   "Kay Mann (E-mail)" <Kay.Mann@Enron.com>
cc:

Subject:  GE Contract

Enclosed please find clean and blacklined versions of the GE Contract.
The blackline of the Agreement identifies the changes from the draft I
sent you. Note that no blackline of the Exhibits was necessary because
it contained no references to WestLB.
Regards,
Paul

 <<HOU_554886_3.DOC>>  <<BL554888.DOC>>  <<HOU_554888_4.DOC>>
Paul J. Pipitone
Andrews & Kurth L.L.P.
4200 Chase Tower
600 Travis
Houston, Texas  77002
Phone: 713-220-4101
Fax:  713-238-7176
ppipitone@andrews-kurth.com

The information contained in this e-mail message is legally privileged
and confidential information intended only for the use of the
recipient(s) named above.  If the reader of this e-mail is not an
intended recipient, you have received this e-mail in error and any
review, dissemination, distribution or copying is strictly prohibited.
If you have received this e-mail in error,  please notify the sender
immediately by return e-mail and permanently delete the copy you
received.

Thank you.

(See attached file: HOU_554886_3.DOC)
(See attached file: BL554888.DOC)
(See attached file: HOU_554888_4.DOC)

 - Change Order 4 (KAS 110300).doc


the assets are marked up and we cant sell them.  the problem is that we have tapped out our credit lines and we need another $2 billion.  seems like we are racing against the clock.

 -----Original Message-----
From: 	Hal Lenhart <Hal.Lenhart@apollogrp.edu>@ENRON
Sent:	Tuesday, November 06, 2001 10:51 AM
To:	Lenhart, Matthew
Subject:	RE:

I would think someone will step up, if nothing else for the trading business
and physical assets.

-----Original Message-----
From: Lenhart, Matthew [mailto:Matthew.Lenhart@ENRON.com]
Sent: Tuesday, November 06, 2001 9:47 AM
To: hfl@fp.edu
Subject:

what are the odds of enron making it.  seems that we are in a cash
crunch.

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


There were some schedule changes to april and may due to some training
classes on the last weeekend in April.  If anyone has conflicts let me know
or trade where possible.

ryan


Your the King.


My other comments on the tariff sheets were as follows:

Section 35.2
	2nd paragraph, 3rd sentence.  Explanation of "incremental revenue".  When we talk about revenues which TW already receives from reservation charges being paid prior to the bid period.  What if we're taking bids on future capacity and we're trying to get revenue that is incremental to reservations charges we're not necessarily being paid yet?  The language is so specific.  Can we change the language to refer to revenues incremental to what TW already has contractually committed?

	2nd paragraph, last sentence.  The phrase "guaranteed throughput volume service applies only in the case of a negotiated rate".  What does this mean?  TK & I were both a littles confused by this language.

	4th paragraph, 4th sentence.  The phrase "the value of the index based rate bids will be calculated using the applicable published indices available on the bid deadline".  TK, is the phrase "published indices" generic enough or should we use something broader that might encompass basis quotes?  I realize it will probably have to be something that is published.


- CPUC01-#80263-v1-I9907003_Biren_Ruling_.doc


I guess we need to work with Glenn and marketing to determine what TW's position if any needs to  be.

 -----Original Message-----
From: 	Hass, Glen
Sent:	Friday, October 05, 2001 10:51 AM
To:	Bagot, Nancy; Call, Josie; Harris, Steven; Kilmer III, Robert; Kirk, Steve; Kissner, Tim; Loeffler, Michael; Miller, Mary Kay; Petersen, Keith; Stanton, Lon; Watson, Kimberly
Subject:	Weekly Report of 10/5/01

ETS State Government Report:

California

I00-11-002  Adequacy of SoCal System.  Since no parties challenged TW's testimony supporting SoCal's receipt point capacity proposal in Opening Comments, Transwestern did not file Reply Comments last week.  Most comments by intervenors focused on other issues such as their open season mechanism, curtailment, backbone transmission capacity addition planning, slack capacity and barriers to new interstate pipeline service.

A01-09-024  On Sept. 21, 2001, SoCalGas filed its Biennial Cost Allocation Proceeding (BCAP) application.  The purpose of the filing is to revise rates to reflect the updated allocation among customers of non-gas commodity costs of service effective January 1, 2003.  In addition to the required rate revisions, SoCal requested authority to revise and simplify various tariffs and to implement several new programs.  Of interest is the proposal for allocation of firm receipt point capacity into their system.  Other  proposals address procedures for open seasons to expand the backbone system, an in-kind fuel charge for transportation and an expansion of the unbundled storage program including gas loaning services.  The application, testimony and exhibits have been distributed to Marketing, Legal and Regulatory for review.  Interventions will be due at the time of the pre-hearing conference which was proposed by SoCal to be held in late October.

Infrastructure Report.  The California Energy Commission approved its Natural Gas Infrastructure Issues Report on a 4-0 vote after several months of discussion and revisions to various drafts.  Most recently certain commenters encouraged the CEC to include an assessment of El Paso's impact on prices through market power and manipulation.  Instead the CEC report references the FERC proceedings addressing this issue and the fact that the CPUC which filed the complaint will represent the interests of California ratepayers.  Numerous factors are addressed as contributing toward the high prices experienced during the last heating season, these included insufficient receipt point takeaway capacity within California, insufficient capacity on the El Paso pipeline system, high demand for gas fired electric generation, low storage levels and extremely dry weather conditions which led to lower hydroelectric output.  Recommendations included encouraging additional in-state gas production, re-evaluate design criteria to expand intrastate systems, encourage the creation of new and independent storage facilities and revise curtailment rules.

New Mexico

01-121-PL  The rescheduled Sept 12th public meeting on the NMPRC's Safety NOI was held last week.  Rick Smith made the TW presentation.  Albino Zuniga, the lead NMPRC person did not attend.  Participation was low and uneventful.

Week of  10/8 Schedule:

Houston	Monday & Tuesday
Omaha		Wed. - Friday


For our argument that the market is responding to expected new supplies.

----- Forwarded by Linda Robertson/NA/Enron on 06/15/2001 03:51 PM -----

	Jeffrey Oh/ENRON@enronXgate
	06/15/2001 03:11 PM

		 To: Linda Robertson/NA/Enron@ENRON
		 cc:
		 Subject: New Gen Report

Jeffrey Oh
Enron North America   503.464.7789
West Power Desk    503.708.1760 (c)
121 SW Salmon Street 3WTC0306  503.464.3740 (fax)
Portland, Oregon 97204   jeffrey.oh@enron.com


fyi
----- Forwarded by Elizabeth Sager/HOU/ECT on 06/06/2001 01:45 PM -----

	"Andy Katz" <AKatz@eei.org>
	06/06/2001 01:35 PM

		 To: <elizabeth.sager@enron.com>
		 cc:
		 Subject: Fwd: FW: EEI Collateral Documentation

One of two comments received on Collateral Annex documents

Andrew S. Katz, Director Industry Legal Affairs
Edison Electric Institute
701 Pennsylvania Avenue, N.W.
Washington, D.C.  20004
Voice:  202-508-5616
Fax:     202-508-5673
e-mail:  akatz@eei.org
 - TEXT.htm
Received: from pitbull.ep.hess.com (ns.ameradahess.com [207.51.255.129]) by
mail.eei.org; Tue, 05 Jun 2001 17:12:38 -0400
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Message-ID: <7911DD490C96D311B6AA00508B63B97A03A4326A@wdbex003.rm.hess.com>
From: "Crespo, John" <jcrespo@hess.com>
To: "'akatz@eei.org'" <akatz@eei.org>
Subject: FW: EEI Collateral Documentation
Date: Tue, 5 Jun 2001 17:19:29 -0400
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2448.0)
Content-Type: text/plain; charset="iso-8859-1"

Andy, we didn't have too many comments, but here they are:

> -----Original Message-----
> From: Cerria, Chuck (Commodities - NY)
> Sent: Tuesday, June 05, 2001 4:16 PM
> To: Crespo, John
> Cc: Butala, John (Commodities - NY); Trivino, Grimuald (Commodities -
> NY)
> Subject: EEI Collateral Documentation
>
> We concur with Enron's and AEP's comments, except as follows:
>
> 1.Interest should be payable on cash collateral held each month and upon
> return of the collateral.
> 2. 15 days to expiry should be the trigger on LC's so that if the LC does
> not auto renew, the pledgee can draw down on the LC when the expiry is
> within 15 days.
>

 - Andy Katz.vcf


-----Original Message-----
From: Joyce Collett [mailto:jcollett@ccisd.net]
Sent: Wednesday, October 17, 2001 10:45 AM
To: Uscollett@aol.com; TIFFINY.COLLETT@chase.com; Crowell, Scott;
Jennifer.Fowler@kaiseral.com
Subject: Fwd: 2 FOR $5.99

This is really funny!

--------- Inline attachment follows ---------

From:  <Beth_Schwartz@galveston-schools.org>
To: 'Joyce Collett' <jcollett@ccisd.net>
Date: Wednesday, October 17, 2001 1:25:52 GMT
Subject:


Rick, Ginger:

This is the email forwarded to Elizabeth on October 2nd, 2001. The outside services for Risk Analytics are indeed minimal.

Please let me know if you have any question.

Brgrds

AI

 -----Original Message-----
From: 	Ibrahim, Amr
Sent:	Tuesday, October 02, 2001 4:21 PM
To:	Linnell, Elizabeth
Subject:	Risk Analytics - Outside services

Elizabeth:

I do not have access to the spreadsheets.  Kindly consider $50K as a base case, $40K as conservative, and $30K is absolute minimum.  I hope that this is fine with you.  I am more than happy to populate the spreadsheet as soon as I get it.

Many thank

AI


We are pleased to present you with a 2001 Special Stock Option Grant Award.  As a participant in this grant you have the opportunity to share in the ownership of Enron and the potential profit from increases in the value of Enron's common stock.

The 2001 Special Stock Option Grant was made to let you know how valuable you are and to recognize your contributions in making Enron the great company it is today.   Although there are no guarantees as to Enron's future stock performance, we believe that an Enron stock option has tremendous future growth potential.  The value you ultimately receive from your options will depend on the price of Enron stock at the time you exercise your options.

You can access your 2001 Special Stock Option Grant Agreement and the Stock Plan document governing the grant via your eHRonline account on the intranet website at http://ehronline.enron.com.  Unlike stock options granted in the past a copy of your grant agreement will not be mailed to your home address.

Additionally, the following information regarding the 2001 Special Stock Option Grant can be found on the HR website http://hrweb.enron.com.

?	2001 Special Stock Option Grant Highlights
?	2001 Special Stock Option Grant Frequently Asked Questions (FAQs)
?	A "How to Exercise Options" document that contains contact information and PaineWebber forms applicable to your stock options

Please take time to review this material.  It is important to us and to you.  If you have any questions, please contact your Human Resources representative.


They tell me that having a high speed internet connection is essential for
enron online (SDN-T).  That's the only latest info I have.


SEPTEMBER CLASSES

 Working Styles: Working With People Effectively - September 19  (4 hour
session)  Cost:  $300.00
This module helps participants understand how they perceive others and how
others perceive them on the basis of behavioral clues. It also discusses what
they can learn from those clues about working together effectively.  As a
result,  participants will experience less interpersonal tension with members
of the team or work unit.
 Communicating Effectively - September 19, & 20  (4 hour sessions)
Cost:  $200.00
Participants will learn the skills that facilitate and promote good
communication, as well as the behaviors that indicate a willingness to
communicate with others. As a result of the module, participants will have
new models and tools that enhance their willingness and ability to
communicate in the workplace.
 Fundamentals of Corporate Finance - September 21 & 22   Cost:  $700.00
This program is designed to provide managers, professionals, technical and
staff personnel a basic understanding of finance and accounting principles
that are imbedded in Enron equity transactions.   This program is also a good
refresher in Finance and Accounting before taking the Applied Finance
program.
 Applied Finance - September 28 & 29    Cost:  $700.00
If a basic understanding of Enron equity transactions (deals) will help you
do your job better, this course is for you.  This course will help you
understand how ENA structures deals, the "deal space", and how the financial
principals discussed relate to ENA deals.
 FranklinCovey Project Managment: An Approach That Really Works*** -
September 27   Cost:  $300.00
This is a one-day introductory program designed for those who have never had
project management training before.  This course will meet the needs of
people who need to handle multiple small projects, with typically less than
100 tasks.

***Pilot Class

For registration or more information, please click here () to go directly
into the Development Center "Ernie", or call 3-0357.


Greg, Liz,

Here are the instructions how to get to Stinson's house.

Directions from major freeways:

From Southwest Freeway (59):
 Exit on Buffalo Speedway and go south.  (Greenway plaza is on the north side
of the freeway.)
 Pass through stoplights on Bissonette, Sunset, Rice, and University.
 Turn right on Cason  (the last small street before the next stoplight, which
is at Holcomb Blvd.)
 House is on your left in 2.5 blocks.

From  West Loop 610 :
 Exit on Bellaire Blvd. and go east  (inside the loop).
 After you pass the stoplights at Auden and at Edloe street,  start watching
for JiffyLube on your right.
 When you near JiffyLube, turn LEFT onto Sewanee Street.
 At first intersection, turn Right onto Cason
 House is on your right.

 If you miss the turn at JiffyLube, just turn LEFT at the stoplight at
Buffalo and turn left again onto Cason.

Vince


The eThink Team

Do you know what's included in Enron's Code of Ethics?  Do you know what policies affect corporate conduct?  Ask Sharon Butcher, Assistant General Counsel of Corporate Legal, all your questions about our corporate policies today (June 5) on eSpeak at 10 a.m. Houston time.
Can't make the live event?  No worries.  Go to eSpeak (http://ethink.enron.com/eSpeak/exec/default.asp) now and submit your question.  Sharon will try to answer it during her event and you can read the transcript later.

Stop what you're doing!  Go to the Thinkbank (http://nahou-lnapp01.corp.enron.com/eThink/Thinkbank.nsf/HomePage?OpenPage) now!  Notice anything different?


----- Forwarded by Mark E Haedicke/HOU/ECT on 08/11/2000 09:13 AM -----

	eBiz@ENRON
	Sent by: Enron Announcements@ENRON
	08/10/2000 05:59 PM

		 To: All Enron Worldwide
		 cc:
		 Subject: Money, politics and Enron

Check out eBiz for the scoop on Enron's involvement in U.S. Election 2000.
Get the answers to your questions about the Enron PAC and Enron's corporate
political contributions!

Also in the current issue of eBiz:

Enron teams up with the largest energy consumer on the face of the planet
What's happening in the PGE/Sierra-Pacific sale
See where Houston ranked in a national construction survey
What Enron has to do with blues music

It's all in the latest eBiz.  Go to home.enron.com, click Publications, then
click eBiz, and "eBiz August 11, 2000."


Everyone in the following gorups, now have access to the West Desk Support Web Site at http://westdesksupport. The UserName is the same as your NT / W2K Login UserName. And the password is the same as the username. Please use this site to log problems with CAPS, Excel, Enpower / FSP, network problems, or anything else that IT Needs to get involved in. Those of you that have logged in under the old username / Password system have also been changed to the new system.

The Groups are:

Real Time
Pre Sched
Volume Management
Risk
Middle Marketing
Power Traders

Thank you for your time.

Michael Tully
Application Support


Minor edits as shown.  Otherwise, looks good.

	Jeff Dasovich
	Sent by: Jeff Dasovich
	01/02/2001 04:20 PM

		 To: skean@enron.com
		 cc:
		 Subject: Advisory group bullets


CALENDAR ENTRY:	APPOINTMENT

Description:
	Happy Hour!

Date:		10/5/2000
Time:		5:30 PM - 10:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Today, the Euros are coming and John is going to be running this negotiation - here's the bad news they are not coming until 3:30pm today so we may have to work late.

Barry Tycholiz will be running this team. Barry - talk to Andy on form if you need help - you will also need to think about getting some traders available over week-end.

The Schedule outline is based on initial overview discussions/presentations  and then more detailed discussion can occur in individual groups the outline is as follows:

It may be better to split up earlier but I leave all those decisions to Andy.

4:00		Introduction			John Lavorato & Louise Kitchen
4:45		Financial Overview		Wes Colwell
5:15		Risk Overview			Buy / Port
5:45		Credit				Bradford
6:15		Back Office			Beck/Hall
6:45		Systems (EnronOnline)		Jay Webb
7:15	            Mid/Back Office Systems	Jay Webb
			Infrastructure			Jenny Rub

Please make yourselves available - the meetings will take place in 2991

Tammie - please organize lunch and refreshments etc on John's card.

Tammie - please check availability.

Thanks for your continued understanding.

Louise


Please see below.

gngr
---------------------- Forwarded by Ginger Dernehl/HOU/EES on 04/27/2000
09:36 AM ---------------------------

Richard Shapiro
04/26/2000 11:35 PM
To: Ginger Dernehl/HOU/EES@EES
cc:
Subject: Introduction to Downstream Origination

Please distribute to everyone in group in North America. Thanks.
---------------------- Forwarded by Richard Shapiro/HOU/EES on 04/26/2000
11:34 PM ---------------------------

Wendy King@ENRON
04/26/2000 03:07 PM
To: Richard Shapiro/HOU/EES@EES
cc: James A Ajello/HOU/ECT@ECT, Jim Crump/Corp/Enron@ENRON, Glenn
Wright/Corp/Enron@ENRON, Andrew Wilson/Corp/Enron@ENRON, Greg
Hermans/Corp/Enron@Enron, Tammy L Mulrooney/HOU/ECT@ECT, Cuthbert
Roberts/Corp/Enron@Enron, Edward Ondarza/HOU/ECT@ECT
Subject: Introduction to Downstream Origination

Richard,

Per our conversation please find attached a brief introduction to Downstream
Originations, the crux of our efforts, and a contact list.
We continue to benefit from increased contact with your staff, and look
forward to working together on more projects.

Kindly amend if necessary and distribute to all concerned.  I have confirmed
to Ginger that I am available to make a presentation at your June 8/9 meeting
as well.

Regards,

Wendy King
X35814


FYI.

-----Original Message-----
From: Boyd, Hap
Sent: Wed 9/12/2001 8:22 PM
To: Dasovich, Jeff
Cc:
Subject: RE: for Board review and comment

Jeff,

My biggest concern is that we draw attantion to our QF contracts and there is pressure for us to give up our capacity payment or the CPUC futher dilutes our energy payment. I also don't think it makes sense to attack the large companies that have the DWR contracts. We generally end up working together on various issues and I do n't want to damage the relationships. I agree with many of the points John makes, but I don't want to be identified with the letter.

Enron Wind also needs to see an Edison MOU bill passed so we can get paid our past due amounts and get our five year fixed energy price on our ISO4 contracts. I plan to be in Sacramento the next couple of days and will stop by Governmental Advocates.

Regards,

Hap


Gentlemen,

Here's the most recent version of the equipment contract.  I am including a
ComparRite redline version, comparing this version to the Oct 11 version sent
by Enron.

I look forward to speaking with you soon,

Kay


Fellas:

Enjoyed the weekend with you all immensely.  I  think Travis and Don Jr. are my new benchmarks for late night longevity, and  Don. Sr. is my new benchmark for marksmanship from a seated position.

I want to make you all aware of a new organization  that I have helped start up.  The Saltwater Conservation Association of  Texas was founded to give Texans a new conservation resource that is dedicated  solely to the coast of Texas.

We are a 501 (c) 3, non-profit, and we have no paid  staff.  Our goal for the next 3-5 years is to assist TPWD in their effort  to retire as many commercial shrimping licenses as possible, as Texas shrimpers  now accumulate around 80 million pounds of bycatch annually.  This bycatch  includes an incredible amount of flounder and croaker, not to mention numerous  forage fish for trout and reds.

We are an authorized agent of TPWD, whereby we can  solicit bids from shrimpers, purchase their license, and then hand it over to  TPWD.  The program is intended to target bay shrimping (not bait shrimping)  as the bay shrimpers drag their nets for hours on end, whereas the bait  shrimpers usually only drag for around 20 minutes or so.  To make a long  story short, the effect of thousands of chains dragging across the bays on a  daily basis is not good for the ecosystem.

I hope you will all consider becoming a Founding  Father.  If not, then any level of sponsorship is certainly  appreciated.  Details of our organization and sponsorship levels can be  found at our website - www.scatexas.org  -  or you can call direct at 512-392-1256.  You can join online or print an  application and mail it in.

Thanks for your consideration, and once again I  really enjoyed the weekend with you all.  Take care.

Sincerely,

Mark Schultz


Wednesday at Rainbow lodge.  Can you book it and let me know.


Guys, attached you will find a draft org memo that I anticpate going out on
Thursday.  I appreciate your patience.  Please give me any comments ASAP
(only major issues).

Brian/Tim, I assume that we need a communication strategy to HPL employees
before this memo goes out - please advise.

Please keep this note confidential until release.

Regards
Delainey


Thanks.  Will be very interested to hear how the meeting goes.  My sense is
that the timing could be just about right.
Best,
Jeff

	Hedy Govenar <hgovenar@govadv.com>
	05/14/2001 05:51 PM

		 To: Sandra McCubbin <smccubbi@enron.com>, Paul Kaufman
<paul.kaufman@enron.com>, Sue Mara <smara@enron.com>, Rick Shaprio
<rshapiro@enron.com>, Bev Hansen <bhansen@lhom.com>, Jeff Dasovich
<jdasovic@enron.com>, Karen Denne <kdenne@enron.com>, Jim Steffes
<james.d.steffes@enron.com>, Scott Govenar <sgovenar@govadv.com>, Ken Smith
<ken@kdscommunications.com>, Mike Day <MDay@GMSSR.com>, Michael McDonald
<Michael.McDonald@enron.com>, Alan Comnes <acomnes@enron.com>, Steven Kean
<Steven.J.Kean@enron.com>, Harry Kingerski <Harry.Kingerski@enron.com>,
Leslie Lawner <Leslie.Lawner@enron.com>, Robert Frank <rfrank@enron.com>,
Janel Guerrero <Janel.Guerrero@enron.com>, Miyung Buster
<Miyung.Buster@enron.com>, Jennifer Thome <Jennifer.Thome@enron.com>, Eric
Letke <eletke@enron.com>, Mary Schoen <Mary.Schoen@enron.com>
		 cc:
		 Subject: Leadership meeting

The four leaders of both houses are meeting in the speaker's office this
afternoon to discuss ways to solve the energy crisis.  I left a meeting
with the Speaker to vacate the room for the leadership meeting, which
was described to me by the Speaker's Chief of Staff as preliminary to a
global solution, if one is achievable.  I have a scheduled meeting with
one of the leaders later today at which time I hope to get feedback on
any progress.

Hedy


---------------------- Forwarded by Chris Germany/HOU/ECT on 01/18/2000 07:12
PM ---------------------------

Gloria G Barkowsky
01/17/2000 06:35 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: CNG Field services/Coronado Pipeline

Chris - has there been any progress on this?  I still don't see
it in path manager under CNG Field Services.  Let me know.
Thanks,  Gloria 3-7118

Don't hate me for all these emails!


We are pleased to announce that Sally Beck has been named Chief Operating Officer for Enron Net Works.  She will join Greg Piper, President and Chief Executive Officer and Mark Pickering, Chief Technology Officer in the Enron Net Works Office of the Chair.

In her current role as Managing Director for Enron Net Works, Sally heads up Enron's Global Risk Management Operations.

Ms. Beck brings more than 20 years professional experience to Enron, joining the Company in 1992.  She graduated from the University of Texas at Austin with a B.B.A. in Marketing and an MBA with a concentration in Finance.

Please join us in congratulating Sally on her new role.


Dayton, Ohio-Based Electric Utilitys Deregulation Plan Cleared ? 09/22/2000
KRTBN Knight-Ridder Tribune Business News: Dayton Daily News - Ohio Copyright
(C) 2000 KRTBN Knight Ridder Tribune Business News; Source: World Reporter
(TM)

COLUMBUS, Ohio--The Dayton Power and Light Co. on Thursday received final
approval of its deregulation plan, setting the stage for residents and
businesses to shop for electricity Jan. 1.

The Public Utilities Commission of Ohio endorsed DP&L's transition plan that
includes a 5 percent reduction in the generation portion of residential
electric bills and three-year cap on rates. The discount is expected to save
the average DPcustomer $2.50 per month over the next three years.

"With (Thursday's) PUCO approval, DPhas a transition plan in place that
increases our growth potential in a competitive market," said Allen M. Hill,
president and chief executive officer of DPL Inc., parent company of DP&L.
"At the same time, it provides customers with a smooth transition to a
deregulated supply market."

DPprovides electric energy generation, transmission and distribution
services to approximately 500,000 customers in all or part of 24 counties in
west central Ohio.

Utility deregulation is a trend across the nation as state regulators seek to
lower prices for electricity, telephone and natural gas by replacing
monopolies with competition. Under deregulation, electric service is divided
three ways--generation, transmission and local distribution.

DP&L's three-year plan, versus five years for most Ohio utilities, places a
ceiling on the cost customers pay for electric generation for three years
while fixing transmission charges for six years.

Customers will have the choice of shopping for electric power from various
suppliers, including DP&L. Those who stay with DPwill get the 5 percent
discount.

Names of potential competitors have not been identified.

Those who select a new power supplier will have the electricity delivered
over DPlines. The utility will be encouraged to offer incentives so that 20
percent of its customers will shop around.

After three years, DPwill have no restrictions on what it may charge for
electric generation. The utility also will have the flexibility to purchase
or sell assets without PUCO approval.

However, competition from new suppliers is expected to keep electric rates
under control, according to Robert S. Tongren, Ohio Consumers' Counsel.

"The new generation (capacity) being proposed and built right now in the
state of Ohio is gigantic," Tongren said. "It is huge."

He said California experienced post-deregulation price spikes during a recent
heat wave because the state is across mountains and can't tap into the U.S.
power grid. In addition, he said price controls make it unattractive for
companies to build new generating plants.

Tongren said his office helped write the DPtransition plan and endorses it.

PUCO Chairman Alan Schriber said the plan "provides an opportunity to
jump-start the market by providing the resources for retail customers to
begin to shop for competitive generation services."

Schriber, a Dayton native, said the plan came before the PUCO as a settlement
in which the overwhelming majority of intervenors either supported or did not
oppose the resolution of the very complex issues inherent in this case.

"Nevertheless, the commissioners carefully scrutinized every aspect of the
settlement and determined that its approval is in the public interest," he
said. "Considered in its totality, we believe that our order approving the
settlement will provide DPcustomers the protection they are entitled to
along with the opportunity to acclimate themselves to the idea of shopping
for electricity." Folder Name: Utilities, Electric: Deregulation Relevance
Score on Scale of 100:
99______________________________________________________________________ To
review or revise your folder, visit Dow Jones CustomClipsor contact Dow Jones
Customer  Service by e-mail at custom.news@bis.dowjones.comor by phone at
800-369-7466. (Outside the U.S. and  Canada, call 609-452-1511 or contact
your local sales representative.)
______________________________________________________________________
Copyright (c) 2000 Dow Jones &Company, Inc. All Rights Reserved


Seminars/Forums, etc. Sub Group

I met with Denise on December 16th and here is a recap of the discussion
relative to our sub group for your information.

Seminars

-Probably no more than 4 per year
-Good curriculum makes a significant difference (ie. quality)
-Keep at a reasonable cost
-Nymex provides seminars which have an audience of 35 to 50
-Denise's experience is that people like topics that are practical adding to
their skill
  base

Forums

- Broader topics than seminars with range of experts
- Can range in size from small groups to very large ballroom settings
- Marketing makes a big difference in turn out

Conferences

- Generally not as excited about conferences
- Shouldn't try one this year
- If do one, keep focused on one topic, not multiple tracks
- Should be lean and mean, cost effective, 2 days max

Nymex has many contacts and should be able to help on marketing events and
perhaps  doing some sponsorship.  Probably should charge for non members for
these events but needs to be reasonable.  Small training sessions could be an
opportunity.

Denise, hope this is a reasonable summary; please add anything I have left
out.
Lane


Enron Credit Line -2: Secured By Northern Natural Gas
11/21/2001
Dow Jones News Service

The Death Of A Pipedream
11/24/2001
Australian Financial Review

Pipeline projects flourish
11/23/2001
Tulsa World

N Amer Oil, Gas Industry On High Alert After FBI Warning
11/26/2001
Dow Jones Energy Service

Enron Is Sued Over 401(k) Plan; Plaintiffs Seek $850M
11/26/2001
Dow Jones News Service

MOU Signed for 1,700-mile Alaskan Gas Pipeline Project
11/26/2001
Gas Processors Report

Wall Street - Oil, oil, boil and trouble.
11/24/2001
Financial Times - FT.com

Volatility Fell Slightly in Light Holiday Trading--  As Enron Calls, Lilly Puts Attracted Interest
11/26/2001
The Wall Street Journal

War is the variable in the oil equation.
11/26/2001
Financial Times

Terror threat puts oil firms on alert-- Letter warns of attacks on installations, pipelines if bin Laden killed or captured
11/26/2001
The Globe and Mail

Dynegy Board Silent On Status Of Enron Takeover
11/26/2001
Dow Jones News Service

Enron, Banks Formalize $690M Debt Extension To Dec. 14
11/26/2001
Dow Jones News Service

Another Sign Investors Don't Trust Enron
11/26/2001
Dow Jones News Service

Oil, gas industry on high alert after FBI warning
11/26/2001
Houston Chronicle
______________________________________________________________________

Enron Credit Line -2: Secured By Northern Natural Gas

11/21/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
HOUSTON -(Dow Jones)- Enron Co. (ENE) closed on the remaining $450 million of a previously announced $1 billion in secured credit lines and said it is in active discussions to restructure its debt to improve liquidity.
In a press release Wednesday, Enron said the $450 million credit facility is secured by the assets of Enron's Northern Natural Gas Co.
A $550 million credit facility, secured by the assets of Enron's Transwestern Pipeline Co., closed Nov. 16. The proceeds are being used to supplement short-term liquidity and to refinance maturing obligations.
The company said the maturity on its $690 million note payable obligation will be extended to mid-December.
Dow Jones Corporate Filings Alert reported Monday that Enron is currently preparing a restructuring plan aimed at taking aggressive steps to rationalize the company's existing cost structure, accelerating the process of divesting noncore businesses and assets and restructuring scheduled maturities of debt and other obligations.

The Death Of A Pipedream
Pamela Williams

11/24/2001
Australian Financial Review
Page 22
Copyright of John Fairfax Group Pty Ltd
Some of the biggest names in Washington have been long associated with the dream of opening up the rich energy fields to rival Gulf oil. But the war in Afghanistan has killed off one of the most ambitious projects.
The web site of the US oil giant, Unocal, tells a tale of corporate power in hiding. It is a blunt statement of repudiation, far from the covetous plans of the 1990s for crossing Afghanistan with pipelines rich with oil and gas.
Instead, in an admission of defeat, the company has posted the message: ``Unocal does not have nor do we plan to have any projects in Afghanistan. We do not support the Taliban in any way whatsoever.''
Hailed as the biggest single economic event of the 21st century with more oil and gas than Saudi Arabia's fabled reserves the project was a multi-billion dollar pipeline, bringing gas from the prime Turkmenistan reserves, across Afghanistan, to the huge Indian and Pakistan markets. Another pipeline would have carried oil from the Caspian reserves.
But in 1998, the project faced defeat as the civil rights and feminist lobby in the United States took on the oil giants over the suppression of human rights by the fervent Islamic clerics and mullahs of the Taliban. They wrested the attention of the United Nations and forced the hand of then president Bill Clinton. Notwithstanding years of pressure by Unocal and its star-studded array of consultants, Clinton declared that the Taliban's repression of women's rights meant there could be no recognition of the Government in Kabul.
It was a bitter blow for Unocal.
But now, with the Taliban steadily being blasted from power, there is renewed speculation that Unocal might seek to breathe new life into the project, bringing a new frenzy of lobbyists and consultants from the US oil industry into the broken Afghan capital.
Absolutely not, according to Unocal spokesman, Barry Lane. He rejects outright the suggestion that Unocal never gave up the pipeline dream, and pressured new President George W. Bush to re-open the door to the Taliban earlier this year.
``Why would we want to go back in there,'' Lane demands. ``In the intervening three years since we pulled out, our company has refocused its interests.''
Furthermore, he insists that Unocal never cut deals with the Taliban in the first place. He is keen to paint the company (which is a major donor to the Republican Party), as having moved on to greener pastures.
``It [the Afghanistan pipeline proposal], had all the earmarks of a very good project. But there was no recognised government and therefore you could not get finance, so the project could not go forward,'' Lane says. ``And we were always an advocate on women's rights and we pressured them [the Taliban] at the time,'' he insists. That's not the way the very influential US lobby group The Feminist Majority remembers it. This organisation rallied women and trade unions across America, and galvanised Hollywood to rally for Afghan women's rights. In the end, the Clintons buckled.
Spokeswoman for The Feminist Majority, Kathy Spillar, says: ``The whole world was willing to look the other way as this Taliban regime stripped women of every human right except to breathe, while it planned on how to exploit these oil interests. Now the eyes of the world are on what this new government will look like. And we're going to be watching the oil interests closely. There are just too many times these brutal regimes have flourished while business interests look the other way.''
The speculation about the continued pressure by oil companies on US foreign policy in Afghanistan has been fed by the publication of a new book which alleges that the oil giants stayed George W's hand on investigating terrorism this year while they tried one last round of diplomacy to secure some concessions from the Taliban.
In Bin Laden: the Forbidden Truth, by Jean-Charles Brisard and Guillaume Dasquie, the authors claim that under pressure from US oil companies, George W. Bush's Administration blocked intelligence agencies from investigating terrorism while it bargained with the Taliban to give up Osama bin Laden in exchange for political recognition and economic aid.
The authors claim that US oil companies and the US relationship with oil-rich Saudi Arabia were the two greatest obstacles to hunting Islamic terrorists. And they assert that until August this year, the US goal was actually to consolidate the Taliban in the hope of finally striking the lucrative pipeline deals.
According to the book, the US re-opened negotiations with Taliban representatives in February this year meetings that continued until August, just a month before New York's World Trade Center was attacked.
The authors claim as their source for this extraordinary revelation, the former deputy director of the FBI, John O'Neill, who for many years led the FBI investigations into Osama bin Laden's Al Qaeda network.
They say that O'Neill this year complained bitterly that his investigations into bin Laden were blocked by the State Department and the oil lobby connected to President George W Bush. In frustration, O'Neill resigned from the FBI. In a chilling turn of events, he took a new job as head of security at the World Trade Center. He was killed on September 11 in the attack on the twin towers.
Certainly the top layers of George W. Bush's Administration enjoy excellent relations with the American oil giants. Aside from the Bush family's oil background, Vice-President Dick Cheney was until last year the chief executive of energy services giant, Halliburton; the National Security Adviser, Condoleezza Rice, was a director of Chevron through the 1990s, and the Secretaries of Commerce and Energy, Donald Evans and Spencer Abraham, worked for oil company Tom Brown. And Unocal includes on its board of directors, Donald Rice, who was Secretary of the Air Force under the first president Bush.
In its efforts to secure a pipeline deal with the Taliban in recent years, Unocal went to extraordinary lengths.
With consultants on board such as the former US Ambassador to Pakistan, Robert Oakley, the company pursued all opportunities, including donating nearly $US1million to the University of Nebraska to the school of Afghanistan Studies. The money was used in part to set up training programs for Afghans who would work on the pipeline, should Unocal end up in the box seat with the Taliban.
Taliban mullahs visited the US twice, with representatives travelling to Houston in late 1997 as the guests of Unocal, visiting the home of Unocal boss Marty Miller, enjoying the sights, with trips to the zoo and shopping centres. On the side there were talks with the State Department.
All the while, intense fighting raged across Afghanistan between the warlords and the Taliban and amongst the warlords themselves.
The CentGas project, as the Unocal consortium (with its major partner the Saudi company Delta Oil), was known, had to raise its funds by late 1997 to meet its deadlines. But the fighting made it impossible to envision stability and finally the CentGas consortium began to unravel.
The stakes for the oil giant were huge. In February 1998, Unocal's vice-president of international relations, John Maresca, testified before the House Committee on International Relations. Maresca too, was from the family fold, having been George Bush Snr's Ambassador to Cyprus.
He outlined the glittering prospects if only the centre could be made to hold in Afghanistan. Despite two decades of bitter warfare and the suppression of human rights, Afghanistan was still the best option for Unocals' pipelines as far as the company was concerned.
``The route through Afghanistan is the one that would bring Central Asian oil closest to Asian markets and thus would be cheapest in terms of transporting the oil,'' Maresca said.
And to bring gas, there was the CentGas pipeline.
But as with the oil pipeline, construction could not begin ``until an internationally recognised Afghanistan government was in place. For the project to advance, it must have international financing, government-to-government agreements and government-to-consortium agreements.''
Four weeks later, Bill Clinton, with UN Secretary-General Kofi Annan, and Secretary of State Madeleine Albright by his side, dispatched Unocal's hopes, declaring there would be no diplomatic recognition for the Taliban.
In his best-selling book, Taliban, Ahmed Rashid, quoted Yasushi Akashi, the UN Under-Secretary-General for Humanitarian Affairs speaking in 1996: ``The outside interference in Afghanistan is now all related to the battle for oil and gas pipelines. The fear is that these companies and regional powers are just renting the Taliban for their own purposes.''
The Taliban may now be all but gone, but the oil and gas reserves in the region mean that Afghanistan has by no means reached the end of its long march with the US oil giants.

Pipeline projects flourish

11/23/2001
Tulsa World
FINAL HOME EDITION
Page 8
(Copyright 2001)
Tulsa-based Williams Cos. Inc., El Paso Corp. and other domestic energy firms are leading a $2 billion-a-year expansion of natural- gas pipelines in the United States, the biggest since the 1960s.
Spurred by a projected 30 percent rise in demand for gas in the next nine years, pipeline companies are building projects that will snake their way from the Great Plains to California, and from Canada to New York.
Falling gas prices and a weakening economy haven't slowed construction. El Paso recently said it plans to spend as much as $1.8 billion on a 750-mile line to bring gas to New York from Nova Scotia, and Duke Energy Corp. announced a $478.1 million expansion of a Canadian line to Boston.
"We're looking through the short-term cycle," said Stephen Beasley, president of El Paso's Tennessee Gas Pipeline unit. "We're in a transition from a petroleum to a natural-gas economy. If you're building a new boiler, a new home, a new power plant, the principal fuel is natural gas."
Houston-based El Paso owns 58,000 miles of interstate pipeline, the biggest U.S. network.
Since 1997, federal regulators have granted construction certificates for 60 onshore and offshore projects that would add 8,110 miles of pipeline with the capacity to move an extra 23.2 billion cubic feet of gas a day. The projects are valued at $10.7 billion.
There are 24 additional projects, worth $4.4 billion, awaiting federal approval for an additional 8 billion cubic feet of capacity and 1,730 miles of pipeline.
This year, about 17 pipeline projects are scheduled for completion, adding 5.5 billion cubic feet in daily capacity and 1,400 miles of new or upgraded pipeline, according to the U.S. Department of Energy.
The construction involves pipelines to new gas reserves, lines to new markets and line expansion to new customers, Beasley said.
The United States has 185,0000 miles of interstate pipelines and 75,000 miles of distribution pipelines. The system can move about 22 trillion cubic feet of gas daily.
Forecasts by the Interstate Natural Gas Association and DOE put 2010 demand close to 30 trillion cubic feet.
Pipeline companies sell line capacity to gas users before starting construction, so the fall in gas prices this year isn't expected to halt construction.
"These aren't the types of projects you do on speculation," said Cuba Wadlington, head of pipeline operations for Williams. "We aren't selling gas -- we're selling capacity."
Williams, also one of the biggest energy traders, has a 27,300- mile pipeline network that spans North America. Its biggest project is a $1.6 billion joint venture with Duke Energy for a line from Alabama to Florida. The pipeline will run 700 miles and carry 1 billion cubic feet of gas.
The company also is working on a $135 million expansion of its Kern River pipeline to California, and is spending $300 million to build a line to the Pacific Northwest from central Wyoming.
Williams plans to spend an additional $6 billion in the next three years on pipeline projects, Wadlington said. The company also is part of a group that announced recently it will draw up a plan to build a pipeline for bringing Alaskan natural gas to markets in the "lower 48" states.
The group expects to present a plan to the owners of Alaska's gas reserves and the state by the end of the year to build and run the line by 2008.
Foothills Pipe Lines Ltd., a venture of TransCanada PipeLines Ltd. and Westcoast Energy Inc., owns the right of way to the route.

COLOR PHOTO; Caption: Since 1997, federal regulators have approved 60 projects that would add 8,110 miles of pipeline with the capacity to move an extra 23.2 billion cubic feet of gas a day. CREDIT:FROM STAFF AND WIRE REPORTS

N Amer Oil, Gas Industry On High Alert After FBI Warning

11/26/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
WASHINGTON (AP)--The oil and gas industry is on especially high alert after a Federal Bureau of Investigation warning that Osama bin Laden may have ordered retaliatory strikes against North American natural gas facilities in event of his capture or death, industry sources said Monday.
The sources, who spoke on condition of anonymity, said the warning issued by the FBI last week was general and singled out no specific target, but referred specifically to natural gas infrastructure such as pipelines.
There are thousands of miles of gas pipeline, most of them buried, crossing the U.S. and Canada. Thirty interstate gas pipelines carry 90% of the natural gas transported, according to the Interstate Natural Gas Association of America.
One source characterized the warning as similar to one issued earlier this month on potential attacks against West Coast bridges that prompted security alerts, but no evidence of actual terrorist intentions.
The FBI alert prompted the American Petroleum Institute, which is the lead industry group coordinating with the FBI and Energy Department on security matters, to issue a warning to oil and gas companies.
"We have received uncorroborated information that Osama bin Laden may have approved plans to attack natural gas supplies in the United States," said the memo, adding that the information was "from a source of undetermined reliability."
The FBI warning continued that "such an attack would allegedly take place in the event that either bin Laden or Taliban leader Mullah Omar are either captured or killed."
Energy companies have stepped up security at refineries, pipeline pumping stations and other facilities since the Sept. 11 terrorist attacks in New York and Washington and the U.S. retaliatory attacks in Afghanistan.
There are thousands of miles of natural gas and petroleum pipelines crossing North America, making protection of such lines difficult. Aerial monitoring of pipelines have increased and security has been intensified at pipeline pumping stations, according to industry officials, who spoke on condition of anonymity.
Also, some detailed information about location of pipelines and other energy infrastructure have been taken off some corporate and government Internet sites. Access to facilities has been tightened as well, officials said.

Enron Is Sued Over 401(k) Plan; Plaintiffs Seek $850M

11/26/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- Enron Corp. (ENE) was sued Monday in the latest of at least three purported employee class action suits the company faces over lost 401(k) retirement savings due to the recent collapse of the price of Enron stock.
In a press release Monday, Eli Gottesdiener, a Houston attorney who filed the latest suit on behalf of employees, said it seeks $850 million in plan losses, in part because the company sold Enron stock to its employees knowing the price was artificially inflated.
An Enron spokeswoman declined to comment.
Unlike two similar, recently filed suits against Enron, the latest also contends that Enron offered the stock without the required prospectus.
If proven, the sale without a prospectus "give workers the automatic right to rescind their purchases and receive their money back with interest," Gottesdiener said in a statement.
Enron "locked down" the retirement plan from Oct. 17 to Nov. 19, to make administrative changes, which prevented employees from selling Enron shares as the share price collapsed amid growing disclosures of financial problems.
Earlier this month, Houston-based Dynegy Inc. (DYN) offered to buy its far larger competitor in an all-stock deal that values Enron shares at $10.85 a piece, or about $9.2 billion.
Enron later disclosed that its future earnings would be substantially less than expected and shares fell sharply.
Enron currently trades at $4.05 a share, down from their 52-week high of $84.88 a share in December 2000.
The first suit was filed Nov. 13 on behalf of plaintiffs by Campbell Harrison & Wright LLP in Houston. A second was filed last week by Seattle-based Hagens Berman LLP.
-John Seward; Dow Jones Newswires; 201-938-5400

MOU Signed for 1,700-mile Alaskan Gas Pipeline Project

11/26/2001
Gas Processors Report
(c) 2001 Phillips Business Information, Inc.
A memorandum of understanding has been signed between subsidiaries of six U.S. companies and three Canadian firms to immediately begin developing a proposal to build a 1,700- mile natural gas pipeline being designed to transport Alaskan natural gas from the North Slope to Canada and the lower 48 by 2008. The companies are hoping to present a proposal to producers by year-end. If and when an agreement is reached with the producers, the companies will move forward with the Alaskan portion of the project.
The U.S. companies involved in the project include Williams, Duke Energy, Sempra Energy International, Enron, PG&E Corp., El Paso Corp., while TransCanada PipeLines, Westcoast Energy and Foothills Pipe Lines represent the Canadian parties. The signing of the MOU is significant because it shows a renewed interest in eliminating the historic and other commercial roadblocks to building the project, according to our source.
All of the companies are the original partners in the Alaskan Northwest Natural Gas Transportation Co., which was designed by the President and U.S. Congress to build and operate the Alaskan portion of the project in 1977. The companies dropped out of the project years ago, even though the Federal Energy Regulatory Commission had already received approval for the project. Numerous other federal permits for the construction and operation of the Alaskan Natural Gas Transportation System (ANGTS) are already in place. The statutory framework for the project provides for a quick approval of the remaining permits needed before construction can begin.
"This is a big step forward in bringing Alaska's natural gas to markets in the Lower 48, said Alaska Senator Frank Murkowski. "I always have believed that construction of an Alaskan gas transportation system to the Lower 48 is going to take the synergistic efforts of pipeline companies and the oil and gas production companies in cooperation with the State, the federal government and Canada. While this does not guarantee construction of a North Slope gas delivery system, it is a big step in the right direction."

Wall Street - Oil, oil, boil and trouble.

11/24/2001
Financial Times - FT.com
(c) 2001 Financial Times Limited . All Rights Reserved
A short week on Wall Street appeared a very long week for the energy sector, an industry that has - in everything from oil to electricity - succeeded in delivering some stinging surprises to the US economy this year.
Last Sunday, Conoco and Phillips Petroleum jolted merger and acquisition specialists out of their torpor with the year's biggest deal, a $35bn "merger of equals" to create the third-largest integrated energy company in the US and the sixth-largest in the world.
Coincidentally, on Monday, ChevronTexaco feted the consummation of its merger with a New York analysts' meeting at which David O'Reilly, the combined group's chief executive, promised higher than expected annual savings of $1.8bn by 2003.
Whether the sector needs another clumsy baptism - the fruit of Sunday's announcement will, inevitably, be saddled with the name ConocoPhillips - is not really at issue. Consolidation that began in the 1990s has left medium-sized energy companies such as Conoco and Phillips with little option but to combine resources for exploration and production in order to compete with "super-majors" such as ExxonMobil.
Volatile oil prices - another story of the week - appear to add to the urgency of the combination, although James Mulva, Phillips's chairman and chief executive, denied that was a prime reason for consolidation. After all, the industry has learned to live with volatility.
These are companies that, in just three years, have shrugged off concerns about what would happen if crude oil remained at $10 a barrel, and, at the other extreme, the possibility of crude lingering above $30.
In the short term, the fate of stock prices in the sector may depend on Opec's ability to snatch victory from the jaws of defeat in its confrontation with Norway and, in particular, Russia over calls for a cut in oil output to underpin the world price. Oil stocks, as measured by the Philadelphia Oil Service index, have had a turbulent time since September 11, plummeting initially only to rally back to their levels before the terrorist attacks and then slump again as the wrangling between Opec and non-Opec oil producers burst into the open.
ChevronTexaco, for one, seemed unperturbed by the stand-off. "If you want a stable price environment, you don't want to be in this business," O'Reilly said on Monday. He was talking about the oil price but he might just as easily have been referring to energy stocks.
Energy-related industries - from utilities to pipelines - make up six of the 10 worst-performing sectors over the past month, according to Dow Jones data analysed by CBS Marketwatch.
None, however, has fallen as precipitously or as publicly as Enron, the energy trading company. Its share price at the close on Wednesday was $5.01, down 44 per cent on the week and 94 per cent below its 52-week high of nearly $85. Remember that this was a company that outperformed the Nasdaq Composite Index even as the technology-heavy index rose to its March 2000 peak.
In addition, Enron remained at stratospheric price and valuation levels even after the dotcoms, whose magic dust its online trading operations borrowed, fell to earth.
In the process, its ability to pioneer new trading markets, such as bandwidth, made it the envy of Wall Street's own broker-dealers, jealous of its trading bravado and its share rating.
Two of Wall Street's giants - JP Morgan Chase and Citigroup - are now helping to prop up the group, laid low by its failure to disclose adequately off-balance-sheet transactions that it carried out as part of its rapid expansion. The two banks are advising Enron on a rescue bid from Dynegy, the much smaller rival energy group part-owned by ChevronTexaco, and backing it with $1bn of credit, secured on pipeline assets.
The trigger for this week's sharp decline was Enron's regulatory filing late on Monday, which revealed for the first time to shaken shareholders and bondholders that the group would have to repay $690m of notes next Tuesday because of a downgrade 10 days ago by Standard & Poor's.
Wednesday's announcement that Enron had managed to postpone that deadline until the middle of next month seemed to do little to allay the crisis of confidence about the group's ability to repay its heavy debts. Ahead of the Thanksgiving holiday, few share traders seemed to want to hold the stock, which fell 28 per cent on Wednesday alone, and electricity and gas counterparties are also wary of entering long-term contracts in the markets that Enron helped pioneer.
The Enron debacle is a reminder of how quickly fortunes can change. Earlier this year, the well-connected and politically influential Houston-based group was powerful enough to be accused by Californians of playing a key role in provoking the electricity crisis on the west coast.
Now Enron's shares and bonds are trading as though it may go bust. If it does, it could drag down other, weaker energy companies, because of its role as a market-maker, supplying liquidity to the power and gas markets. If the worst fears of some Wall Street bankers are realised there may even be repercussions for the wider financial markets, where Enron lays off the risk of price fluctuations, using derivatives.
andrew.hillft.com.
(c) Copyright Financial Times Group.
http://www.ft.com.

Volatility Fell Slightly in Light Holiday Trading
As Enron Calls, Lilly Puts Attracted Interest
By Cheryl Winokur Munk

11/26/2001
The Wall Street Journal
Page B8
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -- The options market dozed, as many participants stayed home to recover from too much turkey and football.
The Chicago Board Options Exchange's market volatility index, or VIX, which measures certain Standard & Poor's 100 Index option prices to gauge investor sentiment, remained in a tight range during the abbreviated trading session the day after Thanksgiving. It fell 0.53 to 24.79.
VIX typically ranges between 20 and 30. A rise indicates traders and money managers are becoming anxious about the stock market; a fall shows investor optimism.
Volatility has been dropping from post-Sept. 11 levels in recent weeks amid victories over the Taliban in Afghanistan and interest-rate cuts by the Federal Reserve and other central banks. VIX ranged between 30 and 40 for several weeks following the attacks.
Volatility is likely to remain low, said Mika Toikka, head of options strategy at Credit Suisse First Boston. "Typically, going into the Thanksgiving and December holidays, we tend to experience a seasonal drift lower in implied volatility. We would expect the same this year, especially in markets outside the U.S. where volatility is still lingering at high levels," Mr. Toikka wrote in a recent research note.
The CBOE's Nasdaq Volatility index, or VXN, a sentiment barometer for the technology sector, fell 1.86 to 50.82 while the American Stock Exchange's Nasdaq volatility index, or QQV, dropped 1.03 to 42.74.
Elsewhere in the options market:
Calls in Enron Corp., the embattled Houston energy and trading company, continued to trade briskly, with one investor buying 10,000 January 5 calls and simultaneously selling 12,250 January 10 calls.
More than 14,800 of the January 5 contracts traded, compared with open interest of 3,640, as shares fell 33 cents, or 6.6%, to $4.68. These calls cost $1.40 on the American Stock Exchange where most of the volume was traded.
More than 15,000 of the January 10 contracts traded, compared with open interest of 30,674. These out-of-the-money calls cost 30 cents on the Amex.
Eli Lilly & Co.'s December 80 out-of-the-money puts also were popular Friday, as shares fell 91 cents, or 1.1%, to $82.42. Morgan Stanley cut its rating on the company to neutral from outperform, saying the stock has become too expensive even with Food and Drug Administration approval of its potential blockbuster drug Xigris, which treats septic infections. More than 3,000 of these puts traded, compared with open interest of 6,427. They cost $1.25 on the CBOE, which saw much of the volume.

War is the variable in the oil equation.
By IAN BREMNER.

11/26/2001
Financial Times
(c) 2001 Financial Times Limited . All Rights Reserved
Oil prices are in the news again. Over the past two months, competition for market share and the threat of global recession have caused oil prices to plummet. Investors have regarded this as a positive development, since low energy prices can help resuscitate struggling western economies.
However, the markets may be pricing the wrong end of the equation, for it is supply, not demand, that may prove a shock to the system.
At issue is risk in the Middle East. As the war against terrorism moves beyond the Taliban, the US-led coalition will turn elsewhere to root out supporters of al-Qaeda and other terrorist networks. The top suspects are Saudi Arabia, Iran and Iraq - oil exporters with 45 per cent of the world's reserves among them.
Pressure on these regimes to change their position on terrorism will mount in the coming months. But with the present governments in place, none is likely to do so. The Saudis and Iranians are unable, the Iraqis unwilling.
While Saudi Arabia has been a military and economic ally of the US, its business and religious leaders have long supported the Taliban and al-Qaeda. Full co-operation with the investigations of September 11 and severance of the financial networks that supported it would critically expose the ruling family.
Meanwhile, domestic opinion in Saudi Arabia runs counter to the interests of the US-led coalition. For Crown Prince Abdullah to maintain authority, he must take a far more radical stance against the US. Signs of Saudi intransigence have grown accordingly. Prince Abdullah stated that the US and Saudi Arabia should recognise and pursue their separate interests, and stepped up criticism of US policy on Palestine and Iraq.
Iran's internal stability is also in doubt. Iran tops the US list of state sponsors of terrorism, through its continued support of Hamas and Hezbollah. President Mohammad Khatami would like to move his country towards the west; privately, his advisers hint that he is prepared to make significant concessions on the terrorism issue. But despite an overwhelming electoral victory for the reformers last June, authority remains in the hands of the Khamenei-led conservatives, who soften their stance at their peril. The political situation in Iran - where soccer riots have led to widespread anti-government demonstrations - leaves little room for compromise.
Demographics work against both regimes. Rapidly expanding and extremely young populations have led to high unemployment and drastically diminished per capita income. Oil prices in the teens could not come at a worse time, guaranteeing crippling budget deficits and cutbacks on stretched social services. Together with pressure from the west, the position of both regimes is increasingly untenable.
Saddam Hussein, Iraq's president, has little concern for domestic instability. But reports of Iraqi intelligence connections to the September 11 terrorists, coupled with Mr Saddam's alleged development of biological and chemical weapons, make it hard for the US to avoid escalation. President George W. Bush does not yet subscribe to the view of many in the defence department that Iraq should be the US's next military target, but pressure to remove Mr Hussein from power will undoubtedly increase.
Further stirring the pot, the propaganda war is being lost by the US and the UK. Few in the Middle East feel any sympathy for Mr bin Laden, but the war in Afghanistan remains unpopular. Many are incensed by harm to Iraqi civilians over the issue of sanctions and by US support for Israel. As the war against terrorism moves closer to them, these feelings will intensify, further destabilising isolated regimes.
The danger is not that Saudi Arabia or their neighbours will stop selling oil to the west on principle: their need for petrodollars is overwhelming. The risk is that one or more key oil producers will face a sudden crisis of government, disrupting the flow of oil. And there are other dangers, such as a terrorist attack on key refineries or pipelines.
Nevertheless, few economists are seriously discussing the possibility of a jump in oil prices. They remain focused on prospects for recovery in the middle of next year. Significantly higher prices are far from certain, but $40 a barrel for any sustained period would damage or stall any recovery.
Washington can do little to help. Using its strategic oil reserves is a possibility, as is exploiting new reserves in Alaska. Strategic discussions with Russia to keep supply high and increased flows from the Caspian would also help.
Either way, a recovery is dependent upon maintaining stability in the Middle East. US fixes are simply nibbling around the edges.
Ian Bremmer is president of Eurasia Group and senior fellow at the World Policy Institute.
(c) Copyright Financial Times Ltd. All rights reserved.
http://www.ft.com.

Terror threat puts oil firms on alert-- Letter warns of attacks on installations, pipelines if bin Laden killed or captured
PETER KENNEDY

11/26/2001
The Globe and Mail
Metro
Page A4
"All material Copyright (c) Bell Globemedia Publishing Inc. and its licensors. All rights reserved."
VANCOUVER -- Canada's oil-and-gas sector is on high alert after learning of a threat that associates of Osama bin Laden may be planning to sabotage energy installations and pipelines in North America.
A spokesman for B.C. Gas Utility Ltd. confirmed yesterday that the company has received a copy of a warning it believes was distributed to about 400 members of the Washington, D.C.-based American Petroleum Institute last week.
In a confidential letter, the institute said it had received information from a source of "unde- termined reliability" warning that an attack will take place if Mr. bin Laden or Taliban leader Mullah Mohammed Omar is either captured are killed.
The letter contained no details on who issued the warning, how such an attack would be carried out, or which facilities would be targeted.
B.C. Gas spokesman Dean Pelkey said the warning may be the work of a prankster. "But at the same time, when something like this comes out, you can't dismiss it out of hand," he said.
"Since Sept. 11, we have increased security at our facilities and we are being more vigilant in watching and monitoring our pipelines. I think other oil-and-gas companies are likely doing the same," he said.
Mr. Pelkey said he believes the confidential warning was sent to other Canadian members of API, which, according to its Web site, include Alberta companies Petro-Canada and Syncrude Canada Ltd.
Contacted yesterday, officials at Petro-Canada and Syncrude Canada said they were not aware of the warning. They said their security measures have been stepped up since the Sept. 11 attacks.
Syncrude Canada spokeswoman Cherry Holland said the oil sands company's 3,700 employees have been told to wear personal identification tags at all times.
A Petro-Canada official said the company has installed fencing and surveillance cameras around its Edmonton refinery. Company employees also need security cards to get in and out of Petro-Canada's office buildings.
"We are cognizant of the events of Sept. 11, as terrible as they were, and it is certainly accurate to say that we are being very conscious of security measures lately," Petro-Canada spokesman Chris Dawson said.
News of the warning comes just weeks after oil-patch representatives met with Alberta government officials to talk about security.
At the meetings Sept. 28, Alberta Premier Ralph Klein said the government needs to see an inventory of what oil-and-gas sector projects around the province need increased security. He said government and industry need to co- ordinate their efforts.
A spokesman for the Canadian Association of Petroleum Producers declined to discuss the API warning.
"On matters like this we make absolutely no comment other than that all information we received is passed on to federal and provincial authorities," he said.
About 40 per cent of U.S. oil-supply needs are met by Canadian producers, according to API's Web site.

Dynegy Board Silent On Status Of Enron Takeover
By Christina Cheddar

11/26/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- As the market continues to speculate about the status of Dynegy Inc.'s (DYN) takeover of Enron Corp. (ENE), Dynegy's board isn't offering its opinion.
"Any comments coming out of Dynegy are coming from the company's executives," said Jerry Johnson, a Dynegy board member who also is an executive vice president at Safeguard Scientifics Inc. (SFE).
Johnson declined to comment on any matters related the pending acquisition of its larger rival, and wouldn't say whether the board has been meeting to discuss the transaction.
Three other board members, through their representatives, declined to comment as well. Other non-executive directors on the 14-member board either weren't immediately available to comment or couldn't be reached.
As for Dynegy's management, spokesman John Sousa said the company's opinion on the deal remains the same since its last comments on Wednesday.
At that time, Dynegy Chairman and Chief Executive Chuck Watson said Dynegy was continuing its due diligence and was looking to accelerate regulatory approval of the deal.
According to Sousa, Dynegy worked through the holiday weekend gathering information as part of its due diligence efforts.
Meanwhile, Enron continued its discussions to raise between $500 million to $1 billion of additional financing, said Enron spokeswoman Karen Denne. The company also is working to restructure its debt by mid-December, she said.
But investors appear to be voting with their feet. Enron shares were recently down 18.3%, or 86 cents, to $3.85, while Dynegy shares slipped 2.7%, or $1.06, to $39.34. As a result, the already huge discount to the deal's offer price has grown even bigger as the market continues to signal the deal won't get completed on its original terms.
Under the terms of the transaction, Enron shareholders are to receive 0.2685 of a Dynegy share for each share outstanding, or about $8.98 billion, based on Dynegy's recent stock price.
At Enron's recent level, the stock is trading at a 64% discount to the Dynegy offer.
Neither Sousa or Denne would comment on the stock movement.
Dynegy has already provided Enron with a $1.5 billion cash infusion that is secured by Enron's pipeline assets. While that investment has helped Enron's near-term liquidity position, it remains unclear how long the company can remain solvent without any added investments.
-By Christina Cheddar, Dow Jones Newswires; 201-938-5166; christina.cheddar@dowjones.com

Enron, Banks Formalize $690M Debt Extension To Dec. 14
By Carol S. Remond and Christina Cheddar

11/26/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
Of Dow Jones Newswires

NEW YORK -(Dow Jones)- Enron Corp. (ENE) and a group of banks last week formalized an agreement to extend the due date on a $690 million syndicated loan by three weeks to Dec. 14.
The loan relates to one of Enron's consolidated limited partnerships that owns minority interests in power and energy projects around the world. Enron said last week that Standard & Poor's downgrade of its credit rating to "BBB-" had triggered an obligation to repay the loan by Nov. 27.
People familiar with the matter said last week that lead banks J.P. Morgan Chase & Co. and Citigroup Inc. and Enron will use the extension to negotiate a further postponement of the debt to the middle of 2002 when other Enron bank loans come due. About $1.75 billion of Enron's $3.5 billion in syndicated bank loans come due in May 2002 and will likely need to be restructured.
About $250 million of the assets securing the $690 million loan are in the process of being sold and will be used to pay down the loan, reducing the outstanding portion of the loan that will need to be restructured, those people familiar with the matter said.
Enron's shares and bonds continue to suffer from mounting uncertainties about the company's finances and whether those could force one-time rival Dynegy Inc. (DYN) to reconsider its offer to buy Enron, an offer that many see as Enron's only chance to avoid bankruptcy. Enron stock was recently down 18% to $3.84. Meanwhile, Enron bonds are also lower, with the 6.4% bonds due 2004 recently trading at a distressed level of 48 cents on the dollar.
Carol S. Remond; 201-938-2074; Dow Jones Newswires; carol.remond@dowjones.com
and Christina Cheddar; Dow Jones Newswires; 201-938-5166

Another Sign Investors Don't Trust Enron
By Michael Rapoport

11/26/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
A Dow Jones Newswires Column

NEW YORK -(Dow Jones)- If you needed any further proof that investors no longer trust Enron Corp. (ENE), here's another piece of evidence - one that goes to the heart of the recent plunge in the company's stock.
Enron doesn't simply trade for less than its book value; it fell below that milestone weeks ago. No, now it trades for less than ONE-THIRD of its book value.
That's a rare level for a company of Enron's size and prominence. And it may mean, among other things, that investors have decided that they simply can't place any further faith in the veracity of Enron's earnings and balance-sheet figures, much-revised as they've been - something that has unnerving implications for any attempt to value the company fairly.
First, let's be clear about what this means. Enron stock is currently about $4 a share; the company's reported book value is about $12.90 a share. In other words, Enron stock sells for less than one-third of what shareholders would get if the company were to liquidate - were to turn all its assets into cash, pay off all its liabilities on its balance sheet and give what's left over to shareholders.
This is an uncommonly dismal level for any company, even a troubled one. For comparison's sake, Dynegy Inc. (DYN), which has agreed to buy Enron, trades at about three times book value, as does El Paso Corp. (EPG), a competitor of both companies. In fact, Enron has the second-lowest price-to-book ratio of any company in the Standard & Poor's 500-stock index - only Conseco Inc. (CNC), another troubled company, is lower, by an eyelash.
Part of the problem is undoubtedly the continuing fear among investors that Dynegy's agreement to buy Enron will fall apart, and the belief that Enron will have to file for bankruptcy if it does, in which case Enron shareholders would be hard-pressed to realize any value. The Dynegy deal now amounts to about $10.60 per Enron share, itself well under Enron's book value; the huge premium that level offers over Enron's current stock price is an indication of the big risk investors see that the deal won't be consummated in its current form.
But given Enron's current woes, it's certainly also possible that Enron is trading at such a big discount to book value because investors don't feel they can trust the earnings and balance-sheet numbers coming out of Enron. Those numbers, after all, are the raw material that form the basis for valuing Enron, or any other company, by computing figures like price-to-book and price-to-earnings ratios.
And the Enron debacle has been all about the quality of those numbers, with Enron shifting assets off its balance sheet to outside limited partnerships from which some of its executives benefitted. In terms of those numbers, the ground has shifted underneath investors three separate times now - when the company slashed its reported shareholder equity by $1.2 billion to unwind its transactions with one of those partnerships, when it restated nearly five years' worth of earnings downward by a total of $586 million, and when it revealed that it could take further charges and was facing an imminent deadline to post collateral on a $690 million note. (That deadline has now been extended until Dec. 14.)
When you've gotten punched in the face three times, it's not unreasonable to fear there'll be a fourth blow, no matter how much the puncher assures you there won't be. Given Enron's insanely complicated structure, and the way bad financial news has dribbled out of the company over the past several weeks, who can guarantee there aren't more such shocks yet to come?
That's what investors appear to be fearing, and that may be part of the reason Enron stock has fallen so precipitously. Thanks to Enron's repeated demonstrations that its numbers can't be relied on, investors no longer have a firm, trustworthy basis on which to value the stock. And so, not surprisingly, the value is getting ratcheted down to the most conservative, bare-minimum level.
An Enron spokesman couldn't be reached for comment.
It's ironic, in a way. For a long time, it was hard to properly value Enron because its structure and finances were so complex and hard to decipher. Now it's hard to properly value Enron because the company's attempts to clarify its finances have made it clear that it's hard to expect investors to trust in their accuracy.
-By Michael Rapoport, Dow Jones Newswires; 201-938-5976; michael.rapoport@dowjones.com

Nov. 26, 2001, 11:19AM
Oil, gas industry on high alert after FBI warning
Associated Press
WASHINGTON -- The oil and gas industry is on especially high alert after a Federal Bureau of Investigation warning that Osama bin Laden may have ordered retaliatory strikes against North American natural gas facilities in event of his capture or death, industry sources said today.
The sources, who spoke on condition of anonymity, said the warning issued by the FBI last week was general and singled out no specific target, but referred specifically to natural gas infrastructure such as pipelines.
There are thousands of miles of gas pipeline, most of them buried, crossing the United States and Canada. Thirty interstate gas pipelines carry 90 percent of the natural gas transported, according to the Interstate Natural Gas Association of America.
One source characterized the warning as similar to one issued earlier this month on potential attacks against West Coast bridges that prompted security alerts, but no evidence of actual terrorist intentions.
The FBI alert prompted the American Petroleum Institute, which is the lead industry group coordinating with the FBI and Energy Department on security matters, to issue a warning to oil and gas companies.
"We have received uncorroborated information that Osama bin Laden may have approved plans to attack natural gas supplies in the United States," said the memo, adding that the information was "from a source of undetermined reliability."
The FBI warning continued that "such an attack would allegedly take place in the event that either bin Laden or Taliban leader Mullah Omar are either captured or killed."
Energy companies have stepped up security at refineries, pipeline pumping stations and other facilities since the Sept. 11 terrorist attacks in New York and Washington and the U.S. retaliatory attacks in Afghanistan.
Also, some detailed information about location of pipelines and other energy infrastructure have been taken off some corporate and government Internet sites. Access to facilities has been tightened as well, officials said.


Tana / Paul,

 I am trying to check whether or not ECTRIC (US entity) has an ISDA agreement
in place with Credit Lyonnais and Toronto Dominion (TD) (or Master Swap
Agreement).
Justin Boyd from Legal gave me your names as a starting point. We are
currently negotiating a prepay transaction with Credit Lyonnais and TD and I
need this information quite urgently

Could you let me know if you are the right people to ask to?

Thank you for your assistance

Kind regards

Philippe Penet
Manager - EGF


Kay,  Please review the attached.  Thanks for your help.


Please approve the following new product type in Data Manager after 11 A.M.

US Crude WTI Fin Spd

(Please note that this product type will replace the existing US Crude WTI
Cal Spd Fin Swap)

STEPS FOR APPROVAL:

click the  START button
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE:  Right mouse click on "Approved"


Johan

My apologies for getting back to you with a delay.

We shall be interested in talking to James. Please,
let me know if:

1. You have an umbrella agreement with Enron
2. Can we contact James directly, or should we work
through you.

Vince

Johan Dahl <jdahl@mrportland.com> on 01/09/2001 12:33:08 PM
To: vkamins@enron.com
cc:
Subject: ENRON-Resume Interview of James Valverde


One quick question - the LLC agreement provides for audit rights in relation
to all of enovate's business.  Do you think that this CA also covers the
provision of information for audit purposes?  If not, can we include that in
this CA or should we have a separate CA for audit?

Thanks - Gregg

	Kathleen Carnahan
	11/09/2000 03:32 PM

		 To: Gregg Penman/Corp/Enron@Enron
		 cc:
		 Subject: Peoples and enovate Confidentiality Agreements

Gregg,

Attached are the drafts of CA's for enovate for your review.  I am going to
go ahead and have Kay approve these unless you have some major changes.

Please advise.

Kathleen


This is the latest on our status of calculating and reporting the DPR.  Rick Buy, our chief risk officer, asked that we get back to normal as soon as possible.  I am currently working on termination statuses and when deals will be killed etc.  I am also working on a way to get the PCS cleaned up.  Continue to run the calc with the true-up flag off as this will cause more confusion than it is worth.

Thanks,
Stacey

 -----Original Message-----
From: 	Wilson, Shona
Sent:	Wednesday, December 05, 2001 1:35 PM
To:	Aguilar, Darrell; Anderson, Patricia; Andrews, Naveen; Apollo, Beth; Beck, Sally; Belden, Tim; Apollo, Beth; Bowen Jr., Raymond; Bradford, William S.; Brooks, Loretta; Buy, Rick; Castleman, Kent; Causey, Richard; 'Chris Abel'; Cockrell, Rainier; Colwell, Wes; Curry, Wanda; Aguilar, Darrell; Day, Misti; Delainey, David W.; Dietrich, Janet; Fallon, Jim; Frevert, Mark; Gold, Joe; Gossett, Jeffrey C.; Green, Alisa; Haedicke, Mark E.; Hagelmann, Bjorn; Hall, D. Todd; Hanson, Kristen J.; Hardy, Trey; Hayden, Frank; Helton, Susan; Hickerson, Gary; Hillis, Kimberly; Hodges, Georgeanne; Kaminski, Vince J; Kass, Michael; Kathol, Sherri; Killen, Faith; Kitchen, Louise; Lavorato, John; Lay, Kenneth; Mayeux, Cassandra; Mcconnell, Mike; McKinney, Hal; McMahon, Jeffrey; Mills, Scott; Moscoso, Michael E.; Murphy, Ted; New, James; Piper, Greg; Port, David; Presto, Kevin M.; Schmidt, Darin; Schoppe, Tammie; Shankman, Jeffrey A.; Shepperd, Tammy R.; Sherriff, John; Talley, Darin; Thatcher, Stephen; Ueckert, Allen W.; Valdez, Veronica; Whalley, Greg; White, Stacey W.; Whiting, Greg; Stock, Steve; Hall, Bob M
Subject:	11/30 and 12/3 DPR - update as of 12/15/01

For the next few days, we will be reporting only positions, maturity gap, & VAR for the DPR.  We expect to be reporting P&L for ENA again probably by the middle of next week.

The 11/30 DPR is still listed on the ERV as preliminary, as there are still a couple small items outstanding.  The 12/3 and 12/4 DPRs should be out by tomorrow.  We are currently experiencing some IT issues related to position reporting which have prevented the reporting of these days.  I expect the issue to be resolved by the middle of the afternoon today and we will report shortly thereafter.

If you have any questions, please call me at 713 853 9123.

Thank you,

Shona Wilson

 -----Original Message-----
From: 	Wilson, Shona
Sent:	Tuesday, December 04, 2001 11:13 AM
To:	Abel, Chris; Aguilar, Darrell; Anderson, Patricia; Andrews, Naveen; Apollo, Beth; Beck, Sally; Belden, Tim; beth Apollo; Bowen Jr., Raymond; Bradford, William S.; Brooks, Loretta; Brown, Michael - COO London; Buy, Rick; Castleman, Kent; Causey, Richard; Chang, Hang; Chris Abel; Cockrell, Rainier; Colwell, Wes; Curry, Wanda; Darrell Aguilar; Day, Misti; Delainey, David W.; Dietrich, Janet; Dyson, Fernley; Fallon, Jim; Frevert, Mark; Gold, Joe; Gossett, Jeffrey C.; Green, Alisa; Haedicke, Mark E.; Hagelmann, Bjorn; Hall, D. Todd; Hanson, Kristen J.; Hardy, Trey; Hayden, Frank; Helton, Susan; Hickerson, Gary; Hillis, Kimberly; Hodges, Georgeanne; Jordan, Mike; Kaminski, Vince J; Kass, Michael; Kathol, Sherri; Khoja, Sayed; Killen, Faith; Kitchen, Louise; Lavorato, John; Lay, Kenneth; Martinez, David; Mayeux, Cassandra; Mcconnell, Mike; McKinney, Hal; McMahon, Jeffrey; Mills, Scott; Moscoso, Michael E.; Murphy, Ted; New, James; Piper, Greg; Port, David; Presto, Kevin M.; Schmidt, Darin; Schoppe, Tammie; Shankman, Jeffrey A.; Shepperd, Tammy R.; Sherriff, John; Talley, Darin; Thatcher, Stephen; Ueckert, Allen W.; Valdez, Veronica; Whalley, Greg; White, Stacey W.; Whiting, Greg
Subject:	11/30 and 12/3 DPR - update

With all of the events of yesterday, information for the DPR for the above dates is not yet complete.  At the present time, we are planning to issue a final DPR for the 30th of November as well as a preliminary and then final for the 3rd of December.  However, we do not yet have an estimated time for these to be issued.

I will keep you up to date when I have additional information.  If you have any questions, please call me at 713 853 9123.

Best regards

Shona Wilson
Director, Global Risk Operations
X39123


As you know, we received a letter from Rocky Mountain Helium ("RMH")  threatening litigation in connection with Enron's investment in Crescendo.  We believe that if RMH files suit, it will be in Federal Court in Denver.
	Do you guys have a firm that you have used in Colorado (preferably Denver) that you would like me to call about this case?
	Thanks in advance.


02/28/01

We are currently verifying all locker assignments.
If you have NOT received your locker assignment,
please return receipt via this e-mail.

Thanks,
Body Shop


Start Date: 4/24/01; HourAhead hour: 18;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042418.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 18 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: EES
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  UNIT_ID: BADLND_7_PL1X2

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 18 / Preferred: -575.00 / Final: -574.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  TRADING_SC: NES1
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 18 / Preferred: 125.69 / Final: 125.38)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  SC_ID: EPMI


Dana, the signed copy after the meeting is fine with me.  Thanks. Lynn

 -----Original Message-----
From: 	Jones, Dana
Sent:	Monday, July 30, 2001 11:34 AM
To:	Dietz, Rick; Blair, Lynn; Corman, Shelley; Johnson, Alice; Forbish, Sherry
Subject:	Terra Update

A letter has been sent to Terra detailing the resolution of the accounts receivable.  Frank Semin is meeting with them again tomorrow, Tuesday, July 31st to review and hopefully get their signature.  I can provide you with a copy if you like or we can wait for the signed version after tomorrow's meeting.

Dana

 -----Original Message-----
From: 	Jones, Dana
Sent:	Thursday, July 26, 2001 2:34 PM
To:	Neubauer, Dave; McGowan, Mike W.; Fowler, Bill
Cc:	Gilbert, Steve; Semin, Frank
Subject:	FW: Customer Accounts Status

The customer accounts status meeting was held today, July 26th.  Marketing had one follow up item related to Terra and what the status of the receivable and related settlement is.  I am following up with Frank and will get back with Shelly's group.

You should be receiving copies of the package shortly.

Please let know if you have any questions.

Dana

Dana L. Jones
NNG Commercial Support
713-853-5787


Please click on the attached link to launch your Holiday Party invitation.

 http://invitation.enron.com

Please direct any questions to Dorie Hitchcock via email.


you have to bring your own

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Wednesday, May 30, 2001 11:54 AM
To:	Maggi, Mike
Subject:

I didn't know there was a bar upstairs too


Start Date: 10/18/01; HourAhead hour: 17;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001101817.txt

Error retrieving HourAhead price data - process continuing...


Attached please find the file for the final EOTT Form 10-K for the year ended
December 31, 1999.

(See attached file: EOTT 10k99dist.doc)

 - EOTT 10k99dist.doc


After discussing the status of our outstanding PA's with credit we have
adjusted the proceess to get us in line with our 3 day turnaround objective.
By close of business 11/19 we should have all PA's received prior to 11/16
processed with a status of: ID mailed, waiting on customer info or Requires
Div/Branch Resolution.  The following process will be used moving forward:

PA's received from from Initial Mailout Counterparties with Credit reject
status (bankruptcy, E rating 10, 11, 12) will be mailed read only id and
letter to indicating a need for them to call us to discuss options for
getting execute status ( these calls will be forwarded to credit)

PA's received from Initial Mailout Counterparties with Credit reject status
($0 exposure, no info) will be contacted by PCG to obtain a credit contact,
Credit will call credit contact and try to obtain required info.  Once Credit
has contacted counterparty and requested info, PA status report will reflect
- Waiting on customer info.  Credit will have ownership of moving this issue
forward in a timely manner.

Credit will give initial mailout counterparties priority over new application
requests however the turnaround objective for all PA's remains at three days.

New applications and PA's will be forwarded to credit immediately upon
receipt (unless it is a muni or utility which will be forwarded to legal
first).  Credit should not reject a muni or utility for anything other than
credit issues.  Legal will address legal and regulatory issues.

Divisions/Branches with approved parent should have the ability to trade.
Dave Forster is trying to develop a work around for the credit upload issue
surrounding division/branches.  Until this issue is resolved the PA report
will state Requires Div/Branch Resolution.

PA's which are completed with execute status will state Execute ID mailed

PA's which are completed with read only status will state Read-Only ID mailed

PA's which are under credit review will state such on the PA report

Please contact me immediately if you have an issue with any of the above at
30397.

---------------------- Forwarded by Bob Shults/HOU/ECT on 11/19/99 08:46 AM
---------------------------

Lisa Gillette
11/18/99 06:35 PM
To: Debbie R Brackett/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Tom
Moran/HOU/ECT@ECT, Grant Oh/CAL/ECT@ECT, Louise Kitchen/LON/ECT@ECT, Rahil
Jafry/LON/ECT@ECT, David Forster/LON/ECT@ECT, Molly Harris/HOU/ECT@ECT, Enron
London - EOL Product Control Group/LON/ECT@ECT, Product Control - Houston,
Paul Goddard/LON/ECT@ECT, Brad Horn/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT
cc:
Subject: PA REPORT

Hello Everyone,

Just wanted to let you know that Carrie Southard and I are working on the PA
Report together and she will be sending it to you all sometimes.  I will be
out tomorrow so if you have any questions please contact her at x35472.

Thank you,
Lisa Gillette


Goodmorning Liz ,

Hopefully your morning is going well.

Liz, we are currently moving up to the 32nd floor
as you are already aware of.
I had been speaking with Brenda concerning
the move however , things has changed since then.

Liz , I need for you to understand the importance
of me knowing exactly when and where we will move.

First of all - the space , we have several machines
that must move with us.

Secondly - We must make arrangements for our satellite ,
the cable may need adjusting.

Thirdly - I need to know where every copy machine is located
on the floor and hopefully we are closest to the largest one.

Please Liz, these are most important.
We prepare for morning meetings daily and we are the first to get
here to work,  so if any problems occur we try and tackle them beforehand.

Please I know that you are very busy however , this will really be helpful
in making our move a success.

Maybe we can meet and discuss?

                                                                    Thank You
                                                                   Kevin Moore


Business Unit: West Gas Trading

Deployment Manager: Kacee Downey

Notification Type (Initial / Change): Initial

DATE FOR Group MAIL MIGRATION: Tuesday Night, May 1st ( Tuesday Night for
Win2K & Outlook after hours )
Please respond via e-mail if there are any scheduling conflicts or questions.

We have identified the pilot for West Gas Trading to be,  Steve South/ssouth
and Susan Scott/sscott3.  Below is the path to the MAR for this Business
Unit.  I have also included a list of users for quick reference.  If the
pilot process is successful, we plan to deploy Windows 2000 on Tuesday Night,
May 1st ( Tuesday Night for Win2K & Outlook after hours ).  I will notify you
immediately if this date changes.

Please respond via e-mail with the earliest possible date for rolling pilot
user Steve South/ssouth and Susan Scott/sscott3 to Outlook, so we can be
available to assist this user with the transition that morning.

O:\InfoTech\Projects\Win2000\BUSINESS UNITS\BU-ENA\BU-ENA-Trading\BU-Gas
Group\ECT-Resources Corp\RC-West Gas Trading

Allen, Phillip	pallen
Ermis, Frank	fermis
Gay, Randall	rgay
Grigsby, Mike	mgrigsb
Holst, Keith	kholst
Kuykendall, Tori	tkuyken
Lenhart, Matthew	mlenhar
Reitmeyer, Jay	jreitme
Sanchez, Monique	msanch2
Scott, Susan	sscott3
South, Steve	ssouth
Tholt, Jane	jtholt

Thank You

Kacee Downey
x55641
281-541-9272 cell