How about 11?

 -----Original Message-----
From: 	Corman, Shelley
Sent:	Wednesday, January 09, 2002 9:02 AM
To:	Howard, Kevin A.
Subject:	RE: Meeting

Hi.  I'm here -- just barely though -- my sinus infection is back.  Can we get together in my office (the less elevator riding the better) sometime between 11-1?  I'm planning to be out of office tomorrow.

 -----Original Message-----
From: 	Howard, Kevin A.
Sent:	Wednesday, January 09, 2002 8:03 AM
To:	Corman, Shelley
Subject:	Meeting

Shelley:
Welcome back! I was wondering if you had 30 minutes today to discuss NNG's major customers from a strategic perspective.  Stan has asked me (on a very confidential basis) to explore various "buy back" options for NNG, including raising a lot of money!  I wanted to get your thoughts on certain customers' willingness to participate in an ownership interest in NNG.  I did not want to meet with Dave and his team given the Dynegy transition. I am free all morning except at 9 and this afternoon except from 2 to 4.


FYI- PACE is the Progressive Conservative Party Advisory Committee on
Energy.
----- Forwarded by Aleck Dadson/TOR/ECT on 06/19/2001 05:49 PM -----

	david.matthews@cgc.enbridge.com
	06/19/2001 01:07 PM

		 To: Aleck.Dadson@enron.com
		 cc: pbudd@powerbudd.com, betmuir@lindsaycomp.on.ca, callow@sympatico.ca,
artistic@primus.ca, bob@algonquinpower.com, iedc@bmts.com,
jonesd2@tdsecurities.com, hkondratas@umagroup.com, blittle@uniongas.com,
iedc@bmts.com, harrisme@est.gov.on.ca, mcgeejs@csolve.net,
jmorning@globalserve.net, dan.pastoric@ontariohydroenergy.com,
rperdue@enterprisecanada.com, rpower@powerbudd.com,
john.hastings@est.gov.on.ca, Mike.Krizanc@est.gov.on.ca
		 Subject: Re: PACE presentation

Aleck: ?Thanks very much for going above and beyond the call of duty to
respond to my questions. ?I really appreciate you taking the time to bring me
up the learning curve on the complexities of the new market place. ?I will
pass your comments on to the rest of the PACE members for their consideration
and comment. ?Our report to the Minister will be much better positioned as a
result of your efforts. ?Dave

	Aleck.Dadson@enron.com

	06/19/2001 12:37 PM
		? ? ? ?
		? ? ? ? To: ? ? ? ?david.matthews@cgc.enbridge.com
		? ? ? ? cc: ? ? ? ?
		? ? ? ? Subject: ? ? ? ?Re: PACE presentation

Dave, Here is my response to the concerns raised in your e-mail below
regarding exports from Ontario to the connected US markets:

? ? ? ? ? ? ? ? ? ? ? ? ?a) Remember that the rules and policies under
development at the IMO will ensure that load in Ontario will not be cut in
order to support export transactions (in other words, Ontario, like most US
systems, has adopted a "native load" preference).

? ? ? ? ? ? ? ? ? ? ? ? ? ? ? b) Remember also that the Ontario market
clearing price will be set by the offers and bids within Ontario.
Scheduled external demand will move us up the bid stack but cannot, for
instance, set the Ontario price by offering ?lets say ?$1,000 MWh. The
price paid by all internal and external ?load (leaving aside the issue of
congestion) will ? ?be set by the marginal bid in Ontario.

? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? c)
Remember also that the scope for ?economic export transactions will be
limited by the impact of the export and wheeling tariff ?($1 MWh),
liability for uplift (estimated at approximately ?$4 ?MWh), and the IMO
administration fee (estimated at $1MWh), ?plus any wheeling/admin charges
applied by the connected markets.

? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? d)
Perhaps most importantly, remember that congestion costs will be charged in
respect of export transactions from the Ontario zone (assume low cost) to
an external intertie zone (assume high cost). A buyer from the Ontario spot
market in the external intertie zone will pay the aggregate of the Ontario
market clearing price plus the applicable congestion costs. Those
congestion costs are calculated as the difference between the Ontario price
(low cost) and the price in the external zone (high cost). ?Two
features/implications of this regime are worth noting. First, the liability
to pay congestion costs will by itself reduce the scope for export
transactions of the scope and level you fear. (Though one can buy
transmission rights - TRs - which will provide a complete hedge against
congestion costs.) ?Second, the congestion costs collected under this
regime will, after funding the hedge held by the holders of TRs, be applied
to reduce the revenue requirement of the transmission owners. ?(In other
words, the surplus flows back to reduce the transmission rates that Ontario
consumers would otherwise pay).

? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Hope this
helps you and your colleagues on the PACE. ?Happy to answer any other
questions that you may have.

? ? ? ? ? ? ? ? ? ? david.matthews@cgc.en
? ? ? ? ? ? ? ? ? ?bridge.com ? ? ? ? ? ? ? ? ? To: ? ? Aleck.Dadson@enron.com
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? cc: ? ? pbudd@powerbudd.com,
betmuir@lindsaycomp.on.ca,
? ? ? ? ? ? ? ? ? ?06/15/2001 03:06 PM ? ? ? ? ?callow@sympatico.ca,
artistic@primus.ca, bob@algonquinpower.com,
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? iedc@bmts.com,
jonesd2@tdsecurities.com, hkondratas@umagroup.com,
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? blittle@uniongas.com,
iedc@bmts.com, harrisme@est.gov.on.ca,
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? mcgeejs@csolve.net,
jmorning@globalserve.net,
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
dan.pastoric@ontariohydroenergy.com, rperdue@enterprisecanada.com,
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? rpower@powerbudd.com,
john.hastings@est.gov.on.ca
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Subject: ? ? Re: PACE
presentation

Aleck: ?Thanks for getting back to me so quickly. ?One point that I forgot
to mention was the impact of external demand.

At the same time that Ontario generators would be trying to sell into
higher priced US markets, marketers serving US customers would be trying to
buy lower cost power in Ontario to ship south. ?As you pointed out, both
groups would need to take into account the costs of wheeling and exporting
the power. ?However, if the price differential between the Ontario and US
markets was sufficient to offset these costs, electricity would flow to the
US until the price differential for delivered power was eliminated. ?If
demand exceeded supply in the US market by an amount equal to or larger
than the US intertie capacity, and Ontario was the lowest-cost supply
alternative, the total demand for Ontario power (from native and foreign
sources) could exceed Ontario supply under extreme weather (as shown in the
table below). ?Under these conditions, the price in Ontario would be bid up
by the US market imbalance. ?Alberta would have had a similar problem with
its BC intertie, if it hadn't decoupled its market pricing so that the
market clearing price for Albertans is set only by local demand.

A second and perhaps more critical issue, is the technical capability of
the Ontario market. ?Despite the rosy reports from the IMO, some market
participants have experienced IMO failures during testing and most MEUs
have indicated that they cannot be ready for a November opening. ?Many
people feel that the risk of system failure must be eliminated or reduced
to a manageable insignificant level, before the market can be opened.

I would appreciate any additional thoughts you care to share on these
points.

Thanks,

Dave

|-------------------------------|
| ?Potential Market Conditions ?|
|-------------------------------|
| MW ? ? ? ? ? ? ? ? ? ? ? ? ? ?|
|-------------------------------|
| Winter Peak Capacity ? ? ? ? ?|
| 26,700 ? ? ? ? ? ? ? ? ? ? ? ?|
|-------------------------------|
| Winter Peak Demand* ? ? ? ? ? |
| (24,600) ? ? ? ? ? ? ? ? ? ? ?|
|-------------------------------|
| ? ? ? ? ? ? Surplus Supply in |
| Ontario ? ? ? ? ? ? ? ? ? ? ? |
| 2,100 ? ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| Intertie Capacity ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ?Out of Ontario ? ? |
|-------------------------------|
| ? ? ? ? ? ? ? ? ?NY Interface |
| (2,450) ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ? ? ? ?Michigan ? ? |
| Interface ? ? ? ? ? ? ? ? ? ? |
| (2,400) ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ? ? ? ?Minnesota ? ?|
| (150) ? ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ? Into Ontario ? ? ?|
|-------------------------------|
| ? ? ? ? ? ? ? ? ?Quebec ? ? ? |
| 1,408 ? ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ? ? ? ?Manitoba ? ? |
| 190 ? ? ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? |
| Surplus/(Shortfall) ? ? ? ? ? |
| (3,402) ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| Net Surplus/(Shortfall) ? ? ? |
| (1,302) ? ? ? ? ? ? ? ? ? ? ? |
|-------------------------------|
| * Extreme Weather Forecast ? ?|
|-------------------------------|

? ? ? ? ? ? ? ? ? ? Aleck.Dadson@
? ? ? ? ? ? ? ? ? ?enron.com ? ? ? ? ? ?To:
david.matthews@cgc.enbridge.com
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? cc:
? ? ? ? ? ? ? ? ? ?06/14/2001 ? ? ? ? ? Subject: ? ? Re: PACE presentation
? ? ? ? ? ? ? ? ? ?12:27 PM

David, here are some observations in response to your questions: a) You are
correct that we would expect Ontario-based generators to pursue economic
export opportunities in the connected US markets but we stress that the
economics of such exports will be affected not only by the comparative
generation costs, but also the cost of Hydro One's export and wheeling
tariff, the IMO uplift and related charges charged to all load (including
exports), transmission costs in the connected market, and any congestion
costs arising in the event that the intertie between Ontario and the
connected market is congested. ?Everything else being equal, this means
that on average, power will trade within Ontario at a discount to prices in
the U S connected markets. b) With respect to volatility, it has to be
conceded that electricity is the most volatile of commodities. Having said
that, the period of most serious volatility is the summer months. Moreover,
we think it can be fairly said that volatility and price swings are
moderating in the Eastern Interconnect largely as a consequence of the
decrease in fuel costs (i.e. natural gas prices) ?and extensive new
generation build - PIRA estimates that in Summer 2001 the year to year
increase in ?available generation resources in the Eastern Interconnect is
about 30,000MW. This all adds up to increased price stability. ? Again, my
colleague, Garrett Tripp, and I would be ready to meet with your group at
any time to go over these questions and our analysis in more detail. ?Give
me a call if you would like to meet to discuss these points. ? 416 865
3707. ?Regards, Aleck

? ? ? ? ? ? ? ? ? ? david.matthews@cgc.en
? ? ? ? ? ? ? ? ? ?bridge.com ? ? ? ? ? ? ? ? ? To:
Aleck.Dadson@enron.com
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? cc:
? ? ? ? ? ? ? ? ? ?06/13/2001 05:50 PM ? ? ? ? ?Subject: ? ? Re: PACE
presentation

Thanks for the report. ?It helped to validate the PACE conclusion that
there is sufficient supply to open the market without precipitating another
California.

The report mentions that imports would not set the MCP in Ontario and that
energy savings would be possible even if peak market demand was met by
imports, while in another section it concludes that Ontario could rely on
higher-priced imports to meet demand. ? The first two points seem to
contradict the results from the IMO test runs, which indicate that the US
markets will set the clearing price in Ontario 90 percent of the time,
putting upward pressure on electricity prices in our market. ?If prices are
higher in the adjacent markets, Ontario generators can be expected to
export power to the more lucrative markets rather than bidding into the
Ontario market, resulting in higher prices for Ontario since prices are
determined on the margin. ?Price volatility and extreme price swings were
also identified as concerns by MEUs.

Were any of these concerns addressed in your presentation and are there any
comments you can share?


Do we have any contact w/ the Coalition for Energy Action -- the new business
group led by the California Chamber?  We need to be part of that group to at
least know what they're doing and what messages they're spinning.  Let me
know, and we can add them into our target CEO database. thx.kd


Cooper,

Here is what we have planned so far.

NACAL-POWERFS1
NACAL-SQWS001P
NACAL-SQWS001D

These servers are in use now and will stay with UBS

The three pixxa boxes will become Estate production servers.

Thanks

Greg

-----Original Message-----
From: Richey, Cooper
Sent: Fri 01/02/2002 2:12 PM
To: Hibbert, Greg
Cc: Dietrich, Dan
Subject: servers

Greg/Dan,

now that things are firming up, can you give me a summary of what is happening to all of the servers purchased for trading decision support (i.e., fundamentals).  the ones i had to get zufferli to sign off on purchasing were power-fs1, nacal-sqws001p, nacal-sqws001d and the 3 pizza boxes.  i know there is some shuffling around now, but i'd like to know what the plan is for these in the short term and long term (either estate/ubs share, estate only, or ubs only).

thanks,
cooper


Please keep Elliot in the loop about conservation and renewal legislation.
---------------------- Forwarded by Mary Hain/HOU/ECT on 02/09/2001 08:43 AM
---------------------------

Susan J Mara@ENRON
02/08/2001 11:32 AM
To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy
Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward
Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES,
Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Frank W
Vickers/HOU/ECT@ECT, Gayle W Muench/HOU/EES@EES, Ginger
Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES,
James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES,
Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy
Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin
Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES,
Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, mpalmer@enron.com, Neil
Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Paula
Warren/HOU/EES@EES, Richard L Zdunkewicz/HOU/EES@EES, Richard
Leibert/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Rita
Hennessy/NA/Enron@ENRON, Robert Badeer/HOU/ECT@ECT, Rosalinda
Tijerina/HOU/EES@EES, Sandra McCubbin/NA/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Scott Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES,
Sharon Dick/HOU/EES@EES, skean@enron.com, Susan J Mara/NA/Enron@ENRON, Tanya
Leslie/HOU/EES@EES, Tasha Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri
Greenlee/NA/Enron@ENRON, Tim Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES,
Vicki Sharp/HOU/EES@EES, Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES,
William S Bradford/HOU/ECT@ECT, Jubran Whalan/HOU/EES@EES, triley@enron.com,
Richard B Sanders/HOU/ECT@ECT, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, dwatkiss@bracepatt.com,
rcarroll@bracepatt.com, Donna Fulton/Corp/Enron@ENRON, gfergus@brobeck.com,
Kathryn Corbally/Corp/Enron@ENRON, Bruno Gaillard/EU/Enron@Enron, Linda
Robertson/NA/Enron@ENRON, Ren, Lazure/Western Region/The Bentley
Company@Exchange, Michael Tribolet/Corp/Enron@Enron, Phillip K
Allen/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, jklauber@llgm.com, Tamara
Johnson/HOU/EES@EES, Mary Hain/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Jeff
Dasovich/NA/Enron@Enron, Dirk vanUlden/Western Region/The Bentley
Company@Exchange, Steve Walker/SFO/EES@EES, James Wright/Western Region/The
Bentley Company@Exchange, Mike D Smith/HOU/EES@EES, Richard
Shapiro/NA/Enron@Enron
cc:
Subject: AReM: Hertzberg Update

Hertzberg press conference on proposed legislation from Democratic Caucus

Here is my personal favorite: "Ensure power by requiring new power plants to
enter into purchasing agreements with the state."

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 02/08/2001 11:29 AM -----

	"Allen, Stevan" <stevan.allen@edelman.com>
	02/08/2001 11:21 AM

		 To: "Beiser, Megan" <Megan.Beiser@edelman.com>, "''nplotkin@tfglobby.com' '"
<nplotkin@tfglobby.com>, "'Aaron Thomas (E-mail) (E-mail) '"
<athomas@newenergy.com>, "'Andrea Weller (E-mail) (E-mail) '"
<aweller@sel.com>, "'andrew Chau (E-mail) (E-mail) '" <anchau@shellus.com>,
"'Bill Chen (E-mail) (E-mail) '" <bchen@newenergy.com>, "'Douglas Oglesby
(E-mail) (E-mail) '" <doao@chevron.com>, "Fairchild, Tracy"
<tracy.fairchild@edelman.com>, "'Jeffrey Hanson (E-mail) (E-mail) '"
<jeff.hanson@phaser.com>, "'jennifer Chamberlin (E-mail) (E-mail) '"
<jnnc@chevron.com>, "'john Barthrop (E-mail) (E-mail) '"
<jbarthrop@electric.com>, "'John Leslie (E-mail) (E-mail) '"
<jleslie@luce.com>, "'Joseph Alamo (E-mail) (E-mail) '" <jalamo@enron.com>,
"''Michael Nelson' (E-mail) '" <mnelson@electric.com>, "'Mona Petrochka
(E-mail) '" <mpetroch@enron.com>, "'Peter Bray (E-mail) (E-mail) '"
<pbray@newpower.com>, "'Rebecca Schlanert (E-mail) (E-mail) '"
<rschlanert@electric.com>, "'Richard Counihan (E-mail) (E-mail) '"
<rick.counihan@greenmountain.com>, "''Robert Morgan' (E-mail) '"
<rmorgan@newenergy.com>, "'Sue Mara (E-mail) (E-mail) '" <smara@enron.com>
		 cc: "Warner, Jami" <jami.warner@edelman.com>, "Manuel, Erica"
<Erica.Manuel@edelman.com>, "Fairchild, Tracy" <tracy.fairchild@edelman.com>,
"Anderson, Kristin" <Kristin.Anderson@edelman.com>
		 Subject: AReM: Hertzberg Update

AReM Team:

Here is report from Hertzberg news conference:

Democratic Caucus announced a package of bills to increase the supply of
electricity and cut down on demand through energy efficiency.

The package being introduced will produce more than 750 megawatts and save
1,200 megawatts over the next few years.

Said the energy efficiency package may save as many as 500 megawatts,
equivalent to a new power plant.

Demos presented a four bill package aimed at rapidly increasing and
stabilizing the supply of power available to the demands of residents and
businesses. The bills would:

Provide $50 million to establish an incentive program to encourage business
to install clean and modern on-site generation.

Provide $150 million to develop clean and efficient renewable energy supply

Allow plants up to 100 megawatts to be cityby local government andnot
through Energy Commission review

Ensure power by requiring new power plants to enter into purchasing
agreements with the state.

They also introduced five bills to provide funding to"

Replace energy inefficient appliances like refrigerators and air
conditioners;
Give schools grants and loans to decrease consumption
Provide 50 percent grants and 50 percent loans to local governments to
retrofit buildings;
Establish a Mobile Efficiency Brigade with $100 million in grants to
nonprofits to hire a team of people to distribute low-energy lightbulbs to
residences, saving 125 megawatts, but help other conservation programs get
started twell before the summer by providig people to do the work while
learning new skills.

-----Original Message-----
From: Beiser, Megan
To: 'nplotkin@tfglobby.com'; Aaron Thomas (E-mail) (E-mail); Andrea Weller
(E-mail) (E-mail); andrew Chau (E-mail) (E-mail); Bill Chen (E-mail)
(E-mail); Douglas Oglesby (E-mail) (E-mail); Fairchild, Tracy; Jeffrey
Hanson (E-mail) (E-mail); jennifer Chamberlin (E-mail) (E-mail); john
Barthrop (E-mail) (E-mail); John Leslie (E-mail) (E-mail); Joseph Alamo
(E-mail) (E-mail); 'Michael Nelson' (E-mail); Mona Petrochka (E-mail); Peter
Bray (E-mail) (E-mail); Rebecca Schlanert (E-mail) (E-mail); Richard
Counihan (E-mail) (E-mail); 'Robert Morgan' (E-mail); Sue Mara (E-mail)
(E-mail)
Cc: Allen, Stevan; Warner, Jami; Manuel, Erica; Fairchild, Tracy; Anderson,
Kristin
Sent: 2/8/01 11:40 AM
Subject: Several Press Briefings in Sacramento today

AReM-ers,

It's a busy day today for press briefings as you can see from the
schedule below.  We'll be covering these events this morning and will
get news releases, press materials from all as well.

We will provide updates as soon as possible and get them out to you.

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

9 a.m., SACRAMENTO _ State Treasurer Phil Angelides
holds
media briefing to discuss issuance of energy-related bonds, 915 Capitol
Mall, room 110. Contact: Colleen Beamish, 916-653-4052.

9:30 a.m., SACRAMENTO _ Assembly Speaker Robert Hertzberg and others
discuss legislation to promote energy conservation and increase power
supplies, Capitol, room 317. Contact: Paul Hefner, 916-319-2408.

11:30 a.m., YUBA CITY _ Gov. Gray Davis discusses his plans to increase
electricity generating capacity in California, Sutter power plant
project,
5087-A South Township Rd. Contact: 916-445-4571.

Noon, SACRAMENTO _ Republican lawmakers hold news conference to discuss
failure of parent companies to keep their utility subsidiaries
sufficiently
solvent to serve the public interest, Capitol, room 1190. Contact: Wade
Teasdale, 916-445-3731.


Sept. 1,3,7,and 8 are good.


I live to Swap!

	Edmund Cooper
	03/22/2001 10:52 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Access

Thank you Swap Queen!!!!

From: Tana Jones on 03/22/2001 10:48 AM CST
To: Edmund Cooper/LON/ECT@ECT
cc:

Subject: Re: Access

I got your company number on my own, so now we just have to wait to have the
erequest approved.  I hope it will be today.

	Edmund Cooper
	03/21/2001 10:42 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Access

Tana,

My cost centre code is 100336.

As to company number, I'm not sure what number you require, or where I can
find it.  Any assistance you can give would be gratefully received.

Thanks, Edmund

From: Tana Jones on 03/20/2001 04:15 PM CST
To: Edmund Cooper/LON/ECT@ECT
cc:

Subject: Access

In order to complete your access request, I need your company number and your
6 digit sap cost center code.


You sound chipper anyway.   I'm actually bored today.  We haven't had any
problems today.  I'm not used to that so I really know what to do with my
time.  That and it's Friday and I don't really want to do anything.


(See attached file: Revised expiration.doc)
 - Revised expiration.doc


Saudis Set to Select Firms for Gas Projects
The Wall Street Journal, 05/14/01

Cheney task force seeks input from interest groups
Associated Press Newswires, 05/14/01

COMPANIES & FINANCE UK: Independents drill deep to strike rich seams: A new
generation of smaller oil companies is emerging; a group that has discovered
how to be competitive, writes David Buchan: Financial Times; May 14, 2001

Bush energy team covers all the bases
Chicago Tribune, 05/14/01

QATAR: UAE's Dolphin may seek new partners if Enron exits.
Reuters English News Service, 05/14/01

UAE: UPDATE 1-Saudi expected to name gas race winners on Tuesday.
Reuters English News Service, 05/14/01

Saudi Oil Council To Meet Tue On Gas Projects -Sources
Dow Jones Energy Service, 05/14/01

RFID chip will help speed up business
The New Straits Times, 05/14/01

India: Godbole panel report may suggest MSEB bifurcation
Business Line, 05/14/01

Tertiary will be primary
Business Standard, 05/14/01
Acegas shares, potential for growth (Acegas, le potenzialita di crescita del
titolo)
La Repubblica, 05/14/01
Roundabout to the Oval Office
The Washington Post, 05/14/01
Largest LNG 13 Conference Opens Today
Korea Times, 05/14/01

International
Saudis Set to Select Firms for Gas Projects
By Bhushan Bahree
Staff Reporter of The Wall Street Journal

05/14/2001
The Wall Street Journal
A16
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -- After more than two years of talks, Saudi Arabia is about to
announce its choice of international oil companies for three huge natural-gas
projects that will mark a reopening of the kingdom's energy sector to Western
investment, a quarter century after it was nationalized.
But the announcement, and the signing of memorandums of understanding early
next month, will mark only the beginning of serious negotiations on terms for
the three ventures, which together will need investment of some $25 billion.
It will be months before final agreements are signed.
"We expect to have an agreement -- a final agreement -- signed somewhere at
the end of the year, or, hopefully, the first quarter of next year," said
Saudi Oil Minister Ali Naimi in an interview last week.
Saudi Arabia's 11-member Supreme Petroleum Council is expected to meet today
to endorse the companies recommended by a ministerial committee led by
Foreign Minister Prince Saud al-Faisal. In the following week, Saudi Arabia
is expected to communicate its decision to the oil companies from both sides
of the Atlantic that have been vying for a role in the three projects. By the
end of the month, the chosen consortium members and Saudi officials are
expected to agree on which three companies will lead the projects. This will
be a prestigious role in a country that is the world's largest oil exporter,
has more than a quarter of the world's oil reserves and has the fifth-largest
reserves of natural gas.
As with any negotiations for such huge projects, industry rumors abound. All
three so-called oil supermajors -- Exxon Mobil Corp., Royal Dutch/Shell Group
and BP PLC -- have been mentioned as project leaders, particularly for the
plum Ghawar project, named after the world's largest onshore oil field, whose
environs are expected to yield large volumes of gas. The Ghawar project,
known as Core Venture 1, is projected to require about $15 billion in
investment. Core Venture 2 is on the Red Sea coast. The third project is in
Shaybah, a recently developed oil field in the kingdom's Empty Quarter, a
southeastern region bordering the United Arab Emirates.
The companies say they have no idea who will be named to the consortia, or
who the Saudis will choose from a short list of 11 companies -- Exxon Mobil,
Shell, BP, Chevron Corp., TotalFinaElf SA, ENI SpA, Enron Corp., Occidental
Petroleum Corp., Marathon Oil Canada Inc., Conoco Inc. and Phillips Petroleum
Corp. -- to lead each project. But they all have their hopes.
"We would be very disappointed if we are not the lead operator" for the
Shaybah project, said Archie Dunham, Conoco's chairman and chief executive.
Since Saudi Crown Prince Abdullah invited major oil companies to return to
the kingdom in October 1998, negotiations have focused on such broad issues
as the scope of the projects and their integrated nature -- from exploration
and production of gas to the making of petrochemicals and electricity -- as
well as the notion that the companies will need adequate returns on their
investment.
Soon, the project leaders will have to start the bargaining on such issues as
the roles to be played by national champions Aramco and petrochemicals
company Saudi Basic Industries Corp.
---
Alexei Barrionuevo in Houston contributed to this article.
--- Population Pressure

Saudi Arabia is opening up its energy sector, in a bid to bolster the
economy as population grows

-- Population
21.3 million (growing over 3.5% per year)

-- Unemployment rate*
27%-35% of males

-- Real GDP Growth Rate
7.6%

-- Oil Production
9.3 million barrels per day

-- Natural-Gas Reserves
204.5 trillion cubic feet

-- Natural-Gas Production/Consumption
1.68 trillion cubic feet

*Unofficial estimate for 1999

Note: Figures are estimates for 2000 except natural-gas production,
which is for 1999

Source: U.S. Energy Information Administration

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

Cheney task force seeks input from interest groups
By SHARON THEIMER
Associated Press Writer

05/14/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

WASHINGTON (AP) - The White House team developing a national energy plan has
met with more than 130 interest groups, from environmentalists and unions
often at odds with Republicans to major Bush supporters given private
sessions with Vice President Dick Cheney.
The vice president, Cabinet secretaries and others on a special task force
have solicited ideas behind closed doors, hoping the privacy would encourage
a free exchange of ideas.
The White House has declined to provide names of participants - even to
Congress.
But interviews with participants detail a massive outreach where diverse
interests have met with task force executive director Andrew Lundquist.
Cheney's time has been reserved for meetings with more select participants
such as power wholesaler Enron Corp. and the Edison Electric Institute, both
GOP donors.
Houston-based Enron is the world's top buyer and seller of natural gas and
electricity.
"The way the task force is set up, they don't have the staff or time to have
a huge host of companies come through the door. They have told us to work
through our associations to the extent we can," said Don Duncan, vice
president of government relations for Phillips Petroleum Co.
Participants said the meetings, typically 20 minutes to 45 minutes, included
about a dozen to 100 interest group members and a few task force members and
staff.
No details were disclosed. Instead, administration representatives summarized
the nation's energy problems or listened as groups briefly offered background
and proposals. Many sent detailed materials to the task force outlining their
priorities.
At a half-hour meeting in late March with White House strategist Karl Rove
and Bush economic adviser Larry Lindsey, nuclear energy executives tried to
make sure the two knew about the production records the industry has set over
the past few years. At one point, Rove asked if anyone was looking to build a
nuclear power plant. An executive with Exelon replied that his company was
thinking about it, meeting participants said.
Energy Secretary Spencer Abraham has attended several meetings, including one
with Teamsters President James Hoffa and an hourlong session in California
with Democratic Gov. Gray Davis, who contends the administration has done
little to help the power-strapped state.
Like other governors, Davis was asked to provide one page on the state's
power crisis, including a description of the problem, an anecdote about it
and possible solutions.
"They're asking for a one-page memo on possibly the biggest crisis ever
affecting the state, with a massive ripple effect for the nation," Davis
spokesman Steve Maviglio said. "I think it demands more attention than a
one-page memo."
Cheney spokeswoman Juleanna Glover Weiss said the task force has been
studying the California problem almost daily.
At a meeting between Abraham and about 100 coal industry representatives in
late April, task force staffers handed out a briefing packet that outlined
national energy needs, and then they listened to industry proposals.
"I thought the purpose was one, to reassure people in the coal industry that
coal was going to play a large role in the energy mix, and essentially when
the plan is unveiled that they're going to be looking to people to help
martial this through Congress," said Bill Banig, a lobbyist for the United
Mineworkers Union.
White House officials said the meetings are not designed to encourage
lobbying and that task force members were carefully instructed on what was
permissible under federal law.
Cheney's meetings included Enron, Edison Electric Institute, California
Republicans, and the senators from Nevada, home to the proposed Yucca
Mountain federal nuclear waste site. The vice president plans to meet with
the renewable-energy industry this week.
Enron ranked among Bush's top 10 presidential campaign contributors, giving
more than $110,000, and helped sponsor a $7 million party fund-raiser last
month.
The Edison Electric Institute gave Republican candidates more than two-thirds
of its $193,000 in contributions last year. Edison International, whose
holdings include the Southern California Edison electric utility, is also a
major donor, giving $535,000 to Republicans last year and $330,000 to
Democrats.
Enron spokesman Mark Palmer said Cheney met with Enron executives because the
power wholesaler is a respected member of the industry, not because it was a
contributor. Enron wants the administration's energy plan to ease electricity
transmission bottlenecks, give companies incentives to invest in new
transmission and make the wholesale power market as open as possible, he
said.
Tom Kuhn, the institute's president, said it is "totally ludicrous" to think
political donations played a role.
Cheney's meeting with Edison board members, held at the institute's
invitation, lasted 15 minutes to 20 minutes. Cheney spoke about the task
force process, Kuhn said. He said Cheney's remarks were consistent with the
vice president's public statements.
Edison wants to see new generation and transmission systems built, including
coal, natural gas and nuclear and hydroelectric power, Kuhn said.
Democrats in Congress sought a list of participants in the meetings, but
Cheney's office responded by only listing broad categories and no names. That
has left fodder for political attack.
"You can't just take advice from one interest group or set of interest groups
when you do these things," said Dave Albersworth of the Wilderness Society,
whose group has met with Lundquist but was denied its request to talk with
Cheney.
Weiss countered that the energy task force has collected information from
more than 130 groups since January in an "almost Herculean effort" to draw
input from all sides.
"People deserve the right to petition their government and not expect a full
laundry list of who's called to be announced," she said.
Enron spokesman Palmer said he is not seeking such privacy. "I'm happy to
tell people what we're advocating for. I'd rather be talking about policy
than about politics," he said.
---
On the Net:
White House Energy Task Force:
http://www.whitehouse.gov/news/usbudget/blueprint/bud10.html

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

		COMPANIES & FINANCE UK: Independents drill deep to strike rich seams: A new
generation of smaller oil companies is emerging; a group that has discovered
how to be competitive, writes David Buchan: Financial Times; May 14, 2001
By DAVID BUCHAN

		The UK's listed small oil companies may have dwindled in number. But they can
rightly say, echoing Mark Twain's words, that reports of their collective
demise are exaggerated.
		Indeed, many in the UK-based exploration and production companies, dubbed
"independents" in the sense of being untied to any refining and marketing,
believe they have more of a role than when their kind first started operating
in the North Sea 30 years ago.
		After the takeovers in recent years of Lasmo, Monument and British Borneo,
there may only be about a dozen significant UK-based "independents" left. Yet
they amount to virtually the entire European E&P sector: the only significant
exception being Lundin Oil of Sweden.
		Many of the UK independents began life as local partners of US companies in
the 1970s when the Labour government of the period gave preference to
consortia with a local flavour.
		But this rationale disappeared when the Thatcher government took a more
free-for-all approach to letting anyone develop the North Sea - though at the
same time it did create the biggest UK independent by floating off British
Gas' oil interests as Enterprise Oil. Enterprise is the only UK independent
that is more than a niche or regional player. As such its E&P assets would be
a significant addition to an oil major, hence the persistently rumoured
interest in taking it over.
		As the North Sea became more competitive and difficult, some of the UK-based
independents began to look elsewhere. "Unlike US independents which have
always tended to be less interested in drilling outside North America, those
in the UK have always tended to be more sympathetic to exotic parts of the
world", says Mark Redway of Teather and Greenwood.
		Unfortunately, the obvious exotic new province that happened to open up in
the early 1990s was the former Soviet Union. One company, Ramco Energy,
dipped in and out very successfully, recently selling its 2 per cent stake in
the Azerbaijan International Oil Consortium for Dollars 150m (Pounds 104.8m).
		Other UK independents - Aminex, Soco and Dana Petroleum - ventured into
Russia and got stuck. While Aminex finds it hard to downplay Russia (because
it has little elsewhere), Soco these days stresses its Mongolia and Vietnam
operations. Another UK independent, JKX Oil & Gas, went into Ukraine, a
country notorious for non-payment of energy bills. With diplomatic help from
Tony Blair, the prime minister, JKX has just survived a legal attempt to rob
it of its Ukraine assets.
		Two other independents have sunk more fruitful roots in Asia. "Cairn Energy
now has as big a stake in Bangladesh's gas production as Shell, and it would
be left, if Enron (the US energy company) were to quit India, as the biggest
foreign player in India," says Iain Reid of UBS Warburg. Premier Oil is now a
substantial Asian gas company, with production in Burma, Indonesia and
Pakistan and long term contracts in Thailand and Singapore.
		But there are risks in these Asian ties. The obvious political one concerns
Burma. Last year the UK government asked Premier to quit Burma because its
presence was helping the military regime. Premier refused, and said it would
carry on.
		The other risk, according to Mr Redway, is economic and it applies also to
Cairn. Because there is no real world market for gas, Cairn and Premier are
"very dependent on the strength of the local economies". But then, Mr Redway
is an analyst who believes that independents' competitive edge lies in
exploration rather than production. He therefore rates Fusion Oil & Gas
highly as "the purest exploration investment opportunity in the E&P sector".
		Dana similarly vaunts its exploration expertise, but to a different end. Its
goal, according to Tom Cross, chief executive, is to find oil and then swap
exploration for production assets. "This avoids the expensive development
stage of building platforms and pipelines and so on". Then at the other end
of the spectrum are production-focused companies, such as Paladin, Tullow Oil
or Venture Production. Roy Franklin, Paladin's chief executive, makes no
bones about his company's scavenger strategy, spotting rich pickings
overlooked by the majors.
		The majors are not always ready to sell, particularly recently when the oil
price rise has widened the gap in price expectations between buyers and
sellers.
		But Paladin was last year able to buy PetroCanada's assets in Norway, and is
this year interested in bidding for some of what the Norwegian state is
selling off.
		As its name suggests, Venture Production, a private Aberdeen-based company
with North Sea and Trinidad operations, is focused on extraction, not
exploration. And so are other private companies such as Intrepid, Consort
Energy and Highland Energy, formed in the past three or four years. This new
generation of company tends to be more cautious than the older one.
"Exploration has probably been the best way to destroy shareholder value,"
says one executive.
		The other risk the new oilmen want to avoid is the vagaries of the stock
market. "By focusing on production, the new companies are more predictable in
terms of cash flow and earnings," says Mike Wagstaff, Venture's finance
director.
		Copyright: The Financial Times Limited

News
Bush energy team covers all the bases
Sharon Theimer, Associated Press

05/14/2001
Chicago Tribune
North Sports Final ; N
13
(Copyright 2001 by the Chicago Tribune)

The White House team developing a national energy plan has met with more than
130 interest groups, from environmentalists and unions often at odds with
Republicans to major Bush supporters.
Vice President Dick Cheney, Cabinet secretaries and others have solicited
ideas behind closed doors, hoping the privacy would encourage a free exchange
of ideas.
The White House has declined to provide names of participants even to
Congress.
But interviews with participants detail an outreach program where diverse
interests have met with task force executive director Andrew Lundquist.
Cheney's time has been reserved for meetings with more select participants
such as power wholesaler Enron Corp. and the Edison Electric Institute, both
GOP donors.
"The way the task force is set up, they don't have the staff or time to have
a huge host of companies come through the door. They have told us to work
through our associations to the extent we can," said Don Duncan, vice
president of government relations for Phillips Petroleum Co.
Participants said the meetings, typically 20 minutes to 45 minutes, included
a dozen to 100 interest group members and a few task force members and staff.
No details were disclosed. Instead, administration representatives summarized
the nation's energy problems or listened as groups briefly offered background
and proposals. Many sent detailed materials to the task force outlining
priorities.
Energy Secretary Spencer Abraham has attended several meetings, including one
with Teamsters President James Hoffa and an hourlong session in California
with Democratic Gov. Gray Davis, who contends the administration has done
little to help the power-strapped state.
Like other governors, Davis was asked to provide one page on the state's
power crisis, including a description of the problem, an anecdote about it
and possible solutions.
"They're asking for a one-page memo on possibly the biggest crisis ever
affecting the state, with a massive ripple effect for the nation," Davis
spokesman Steve Maviglio said. "I think it demands more attention than a
one-page memo."
Cheney spokeswoman Juleanna Glover Weiss said the task force has been
studying the California problem almost daily.
At a meeting between Abraham and 100 coal industry representatives in late
April, task force staffers handed out a briefing packet that outlined
national energy needs, and then they listened to industry proposals.
"I thought the purpose was one, to reassure people in the coal industry that
coal was going to play a large role in the energy mix, and essentially when
the plan is unveiled that they're going to be looking to people to help
marshal this through Congress," said Bill Banig, a lobbyist for the United
Mineworkers Union.
White House officials said the meetings are not designed to encourage
lobbying.

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

QATAR: UAE's Dolphin may seek new partners if Enron exits.
By Kedar Sharma

05/14/2001
Reuters English News Service
(C) Reuters Limited 2001.

DOHA, May 14 (Reuters) - Dolphin Energy Ltd (DEL) may invite new foreign
investors to join its project to route Qatari gas to the United Arab Emirates
as U.S. Enron Corp looks set to bow out, industry sources said on Monday.
"New partners are a possibility," Khaldoun al-Mubarak, project manager for
DEL, majority owned by the UAE's Offsets Group (UOG), told Reuters.
"But at the moment we are in the midst of finalising the formal (development
and production sharing) agreement with Qatar which should be done by
September at the latest."
Qatar and DEL in March signed a "commercial term sheet agreement" which
outlined the conditions of the upstream agreement for the long-awaited $3.5
billion project.
UOG currently owns 51 percent of DEL, with the remainder held equally by
France's TotalFinaElf and Enron.
"Enron is going through major global restructuring," Mubarak said. "(But)
they haven't officially notified us about their intention to pull out."
Enron officials declined comment.
Mubarak said interest in DEL was running high.
"Everyone is asking for a stake," he said.
The gas deal would entitle DEL to develop a tract of Qatar's giant North
Field and produce up to two billion cubic feet per day (cfd) of gas.
UOG is to invest $2 billion in developing the North Field tract, drilling and
setting up production facilities.
The remaining $1.5 billion would be invested to lay a pipeline and set up
receiving terminals at Dubai's Jebel Ali and Taweelah in Abu Dhabi.
First gas is targeted to reach the UAE capital Abu Dhabi by late 2004 or
early 2005. About one billion to 1.5 billion cfd of Qatari gas would be
consumed by utilities in Abu Dhabi with the remainder supplied to Dubai.

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

UAE: UPDATE 1-Saudi expected to name gas race winners on Tuesday.
By Peg Mackey

05/14/2001
Reuters English News Service
(C) Reuters Limited 2001.

DUBAI, May 14 (Reuters) - Saudi Arabia's Supreme Petroleum Council (SPC) is
expected to meet on Tuesday and announce the oil majors chosen for its
multi-billion dollar gas investment opening, industry sources familiar with
the negotiations said on Monday.
The sources said the SPC is expected to name ExxonMobil and Royal Dutch/Shell
as lead players in three so-called core projects involving the kingdom's
upstream gas sector - off-limits to foreign oil firms since nationalisation
in 1975.
Signing of memoranda of understanding (MOUs) would most probably take place
in early June, the sources said.
The anticipated announcement would mark the biggest advance in the kingdom's
gas initiative, valued at an initial $25 billion, since Riyadh unveiled its
energy investment opening over two years ago.
But the hard work has yet to start on the opening of Saudi Arabia's gas
sector, the world's fourth biggest. "The fiscal regime and regulatory details
have not been developed," said one source.
FINAL CUT
Riyadh is expected to trim back its original shortlist of 11 potential
foreign investors revealed last summer. Those companies had been grouped
under three core venture consortia - South Ghawar, Red Sea and Shaybah.
For ExxonMobil and Royal Dutch/Shell, securing the lead role in Saudi
Arabia's core ventures would entitle them to operate the package and get the
biggest slice of the projects, analysts said.
Other industry sources said ExxonMobil, the world's biggest energy company,
was tipped for the top slot in core venture 1 (South Ghawar) as well as in
core venture 2 (Red Sea).
Royal Dutch/Shell was in pole position for core venture 3 (Shaybah), the
sources added.
Both oil supermajors already have significant foreign investment in the
kingdom and feature as top customers of Saudi oil, the analysts said.
ENERGY DRIVERS
An urgent need to create jobs and grow the economy are driving Saudi Arabia's
landmark energy opening.
And analysts said big oil companies were prepared to help the kingdom achieve
those aims even if the return on their investment was relatively low.
"Major oil companies just cannot miss this opportunity," a source said. "The
gas projects will show profits."
But just how much revenue oil companies will generate by selling water and
electricity in the Saudi domestic market remains to be seen.
On paper, at least, the kingdom's domestic gas sector looks set for
impressive growth.
Domestic gas demand, now running at about 3.4 billion cubic feet per day, is
forecast to grow at more than seven percent a year over the coming decade.
Saudi Arabia has meanwhile made clear that its prized oil sector, the world's
biggest, remains off limits.
Even so, oil companies still hold out hope for eventual involvement in oil,
the kingdom's lifeblood.
"The companies are just as happy with gas, but oil remains the ultimate
objective," a regional analyst said.
"Saudi Aramco is still putting up strong defence barriers, but eventually
they could open up the oil sector once they feel comfortable working with the
majors."
The Saudi gas initiative seeks foreign oil companies' help in developing the
kingdom's known gas reserves as well as investment in downstream projects fed
by gas supplies, such as power and desalination.
The following companies have been shortlisted for the gas projects:
Core venture 1 (South Ghawar Area) - ExxonMobil, Royal Dutch/Shell, BP ,
TotalFinaElf , Chevron and ENI .
Core venture 2 (Red Sea Area) - TotalFinaElf, ExxonMobil, Marathon , Enron
/Oxy , Conoco , Royal Dutch/Shell.
Core venture 3 (Shaybah Area) - Royal Dutch/Shell, ExxonMobil, Marathon,
Conoco, TotalFinaElf, Phillips and Enron/Oxy.

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

Saudi Oil Council To Meet Tue On Gas Projects -Sources

05/14/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

DUBAI -(Dow Jones)- International oil companies vying for a stake in Saudi
Arabia's downstream gas projects, expect to be notified soon on whether they
have been selected to participate, industry sources in the kingdom said
Monday.
Saudi Arabia's Supreme Petroleum Council is set to meet Tuesday and shortly
after, announce its final selection for each of the three core ventures on
offer, the sources said.
The Saudi Arabian committee negotiating with international oil companies on
the Gas Initiative, submitted its proposals for consortium members and
leaders to the country's Ministerial Council in April. These were then passed
on to the SPC for final approval.
Saudi Arabia's Crown Prince Abdullah, who heads the SPC, is in Bahrain Monday
attending a Gulf Cooperation Council leaders' summit along with Saudi
Arabia's foreign minister, Saud Al Faisal, who heads the gas negotiating
committee.
Saudi Arabia invited international oil companies in October 1998 to
participate in proposals for downstream gas projects and upstream gas
enhancement.
After a series of meetings between the negotiating committee and IOC's in the
past year, the following companies were shortlisted for each project.
Royal Dutch/Shell Group (RD), BP PLC (BP), Exxon Mobil Corp. (XOM), Chevron
Corp. (CHV), Total Fina Elf S.A. (TOT) and ENI SpA (E) for Core Venture 1,
the $15 billion South Ghawar Area Development.
For Core Venture 2, the Red Sea Development, Enron Corp. (ENE) and Occidental
Petroleum Corp. (OXY) are bidding jointly and Exxon Mobil, Total Fina Elf,
Marathon Oil Canada Inc. (T.M), Shell and Conoco Inc. (COCA) were listed.
And for Core Venture 3, the Shaybah area, Total Fina Elf, Conoco, Phillips
Petroleum (P), Enron and Occidental, Exxon Mobil, Shell and Marathon Oil were
listed.

With all those shortlisted expected to play some role, the immediate and
essential question for each of the IOC's is whether they will be selected to
lead and operate a project, with Core Venture 1 the most sought after,
industry sources said.
Exxon Mobil and Shell have been tipped as frontrunners for this venture.
The operator's role will be more crucial than ever here as it will be
responsible for directing further negotiations on the projects at hand which
will lead to final deals probably by year end.
Also, operators are expected to decide and direct how the project's
individual and large components will be developed, details the Saudis haven't
finalized, sources said.
The three ventures have been estimated at a combined value of about $25
billion.
-By Dyala Sabbagh, Dow Jones Newswires; 9714-331-4260;
dyala.sabbagh@dowjones.com

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

Business
RFID chip will help speed up business

05/14/2001
The New Straits Times
Main/Lifestyle; 2*
26
(Copyright 2001)

THE combination of recently developed "stick-on" Radio Frequency
Identification (RFID) chip technology with a global positioning system (GSP)
will transform and quicken the pace of doing business in the oil and gas
industry.
And Malaysia must adapt to this shift to maintain her global positioning.
Global management and technology consultant Global Energy Strategy Practice
which is working in partnership with Accenture Sdn Bhd wants to promote this
idea locally.
Global Energy Strategy Practice partner Paul Spence said that applying this
latest combined technology, car owners can fill up a petrol tank without
resorting to human contact or to the use of a credit card.
Relevant personal data embedded in the RFID chip would be machine read and
the required quantity of petrol delivered, as if right out of a science
fiction movie.
This surreal development is made possible through the application of
ubiquitous-commerce (u-commerce) whereby computers and machines communicate
with each other to affect an impression of an omnipresent intelligence.
Such technology is economically available today. "There are technology
suppliers who are offering these capabilities."
The technology also has applications outside the oil and gas industry.
Communications between machines can now allow or deny access of individuals
to restricted zones.
In an interview in Petaling Jaya recently, Spence said: "A lot of my clients
now are asking, whether that same technology can be used to restrict access
into hazardous areas, plants or production sites.
"Can a warning alarm be fitted to the individual or to an assistant? There
are lots of safety, health and environment applications around that."
"Guru in the field" is another potential application where a combination of
RFID chips, video cameras, personal digital assistants (PDA) and personal
computers can deliver distant technical advice on- site.
"An industry client operating in the North Sea oil fields has a prototype
mounted on a workman's helmet which sends snap-shots to experts on the other
side of the world.
"The effect of this new combined technology on global financial and commodity
markets is to lock them in tighter correlation.
"The days of being able to arbitrage for profits between geographical markets
are shortening within the energy industry. Enron which is the biggest oil
trader in the US is now hedging on weather derivatives."
Accenture partner Lim Beng Choon said that to compete globally, the oil and
gas industry in Malaysia would have to implement this new technology to
remain connected to global markets.

Caption: Lim ... connected.

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

India: Godbole panel report may suggest MSEB bifurcation

05/14/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

MUMBAI, May 13. THE second part of the Dr Madhav Godbole committee report is
expected to be submitted to the State Government on May 15.
While the first part of the report recommended renegotiation of the power
purchase agreement with Enron's Dabhol Power Company, the second part is
expected to suggest bifurcation of the Maharashtra State Electricity Board,
sources said. The committee, which has been given the mandate to negotiate
with Enron officials to make DPC power more acceptable, had a marathon
meeting on May 11 to finalise the second half of the report.
"The committee has been considering the bifurcation of MSEB," a source said.
"The idea is to try and separate the distribution from generation and
transmission." While generation and transmission can be controlled by the
State, there may be a suggestion to privatise the distribution arm. Over 1.5
lakh MSEB employees had gone on a strike to oppose a Bill to unbundle the
board into three divisions - generation, transmission and distribution - due
to fear of privatisation.
MSEB, the State's leading power company, has been facing huge losses due to
delay in payments and theft of power. The second part of the report is
expected to address the problem in detail.
Part one of the report submitted on April 10 had said: "...none of the
solutions espoused for independent power producers, in general, and DPC, in
particular, is tenable without the reforms of MSEB, especially its
distribution business, which it shall address in part II of the report."
The report is expected to "suggest appropriate measures to ensure that the
interests of the State, MSEB and electricity consumers of the State of
Maharashtra are properly and adequately considered, evaluated and
safeguarded," according to the terms of reference laid down when forming the
committee.
The committee originally consisted of Dr Madhav Godbole, Mr Deepak Parekh, Dr
E.A.S. Sarma, Dr Rajendra Pachauri and the State Energy Secretary, Mr Vinay
Mohan Lal. The MSEB Chairman, Mr Vinay Bansal, has been inducted as part of
the panel after the submission of the first part and before the beginning of
negotiations with Enron.
Archana Chaudhary

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

The Smart Investor
Tertiary will be primary
Indira Vergis

05/14/2001
Business Standard
2
Copyright (c) Business Standard

These are volatile times for world business. There are increasing jitters
that a slowing US economy could dampen prospects for the global economies.
Many developing regions, especially in Asia, are bracing themselves for a
bout of slightly lower growth.
But two countries, India and China which together account for about half the
region's gross domestic product (GDP_ will still continue to see their GDP
grow at six per cent, forecasts the Asian Development Bank.
Many Indian economists agree with ADB's projections. In fact, they view the
prediction of a six per cent growth in India's GDP as benign. Nearly 54 per
cent of India's GDP is delivered by its services sector and a modest
performance by this sector, some economists say, will be enough to hold up
the GDP at six per cent. There are others who hope that better agricultural
performance could prompt the economy to hand in a better scorecard.
However, the Indian industry remains trapped in the doldrums, suffering from
a lack of consumer confidence and investments. Very few economists expect to
see signs of recovery sprouting any time soon.
An interest rate cut is considered vital by many to energise the sector. And,
they argue, there are certain economic indicators that encourage such a move.
Inflation is running at very low levels and the nation's foreign exchange
reserves are currently high enough to provide a strong defence to the Indian
currency. Surprisingly, our trade balance, which threatened to spiral out of
control by surging oil prices last year, has been contained. Since then, oil
prices have retreated and are expected to remain subdued. While a rate cut
may go some way in reviving sentiment and activity in the industrial sector,
stirring up consumer demand will still hinge on a normal monsoon.
Rain, rain, come again
For many economists, the prediction of India clinging to its current GDP
level is heavily contingent on a normal spell of monsoon this year.
"According to our assessment, we believe the Indian economy will grow by
around 6.5 per cent this fiscal year," says Chetan Ahya, vice president at J
M Morgan Stanley Securities.
In 2000-01, agricultural growth withered under a poor monsoon and a
subsequent drought in many parts of the country. For the second year in a
row, growth in the sector sank below one per cent. It stood at 0.9 per cent
compared with 0.7 per cent the previous year. While agriculture accounts for
only 24 per cent of GDP, it remains the most keenly-watched sector by
economists. "The performance of the agricultural sector is important because
of its linkages to the economy both on the supply side and on the consumption
side," says Mohan Nagarajan, chief economist at Credit Analysis and Research
Ltd (CARE). "It would lead to a better performance of agro-based industries,"
he adds.
More significantly, roughly 60 per cent of Indians still depend on
agriculture for their livelihood. "A good crop means that demand for
everything, from everyday use goods like toothpaste to larger items like
tractors will pick up," says Nagarajan. Economists are hoping that a good
monsoon will budge growth in the sector to around 1.5 to 2.5 per cent.
In service of the economy
Another key sector economists will be watching out for will be services.
India's services sector ranging from finance, insurance, hospitality to
transportation and communication slowed its pace in 2000-01. With growth
weakening by a whole per cent to 8.4 in 2000-01, sluggishness in this
important sector has been blamed for dragging down the overall GDP. Most
economists expect the sector to post either relatively flat growth or edge
slightly higher this year. But, it's performance will be vital to ensure that
overall GDP holds at six per cent. "Even if the agriculture and industry
numbers fall again but services sees even seven to eight per cent growth, it
will be enough to keep the GDP around six per cent," says Nagarajan.
Construction activity a services component that includes housing, roads and
other infrastructure projects demonstrated surprisingly good growth of 8.7
per cent and is expected to maintain the pace. Road construction is tipped to
show increasing levels of activity as work on the ambitious highway linking
Mumbai, Delhi, Chennai and Calcutta intensifies.
Chiming in will be the housing industry, benefiting in recent years from tax
reliefs and attractive financing schemes, and which have encouraged more
people to buy houses.
Another segment slated to witness good growth will be IT-enabled services,
says Morgan Stanley's Ahya. "We are emerging as the services workshop of the
world," he says. IT-enabled services like call centres and data processing,
though currently generating tiny revenues, are slated to turn into big money
spinners in the years ahead.
The telecommunications industry will also see improving levels of investment.
"The penetration of services is so low, that it has an intrinsic high growth
rate," says Ahya. For a taste of the market, consider this: out of the 100
Indians, only one uses the Internet and less than three own a telephone.
A good home show
And there could be a pleasant surprise in store for industry amid all the
gloom over its performance.
Adequate liquidity conditions are spurring expectations of a cut in interest
rates. Broad money(M3) a gauge of total money available in the economy
increased 16.2 per cent in 2000-01 against 14.6 per cent last year.
While the Reserve Bank of India had cut the bank rate in March, the belief is
that a further cut of 50 basis points is imminent. The bank rate the rate at
which the central bank lends to commercial banks currently stands at seven
per cent. Aiding the cause is the inflation data which shows the wholesale
price index at a tame 5.84 per cent. With economists betting that oil prices
will remain in the $24-28 a barrel range, inflation is not expected to
exhibit the oil price-inspired gyrations of last year. A cut could coax the
industry to step up activity, though admittedly, much would still depend on
rural demand.
Neighbours' envy
And while many Asian countries watch with increasing nervousness the impact
of an American downturn on their economies, India and China can afford to
remain relatively placid about global developments. That's because they are
less dependent on the US for their own economic health. That is expected to
shield them somewhat from being blown off-course like some other Asian
nations by the ill-wind of an American slump in demand.
With exports making up less than 10 per cent of India's GDP, its economy is
clearly not export-driven. In contrast, nearly 35 per cent of Indonesia's GDP
comes from exports, 57 per cent for Thailand, and 50 per cent for the
Philippines.
Yet, despite claiming only a small percentage of GDP, India's exports
remained a bright spot amid some gloomy economic data. Exports raced ahead 20
per cent to $44.1 billion in 2000-01. It was the second consecutive year of
good exports growth. On the flip side, imports rose, too, during the same
period to Rs $49.1 billion. But non-oil imports, however, declined 15 per
cent to $34.2 billion. That helped narrow the trade gap to $5.74 billion from
$12.79 billion the previous year.
Still, India can ill-afford to ignore completely the risks of an American
slump in demand. The US is India's largest trading partner and, in 2000-01, a
quarter of its exports headed to that nation. Besides, by taking in nearly 70
per cent of India's software exports, it is also India's most important
software exports destination.
Booming software exports accompanied by remittances by Indians living
overseas have been the primary factors exerting a calming influence on
India's balance of payments of position, especially in times of economic
turbulence. For example, last year, while a surging oil import bill
threatened to rattle the nation's trade gap, inflows from
invisibles(including income from software and Indians living abroad) came to
the rescue helping India limit its overall current account deficit.
It's a sobering realisation that has compelled the National Association of
Software and Service Companies(NASSCOM) to lower its exports forecast to
between $8.5 billion to $9 billion from its previous figure of $9.5 billion.
Earlier, it had also revised estimates for 2000-01 lower to $6.2 billion from
$6.3 billion. Still, observers say it isn't a cause for depression.
"They are still talking about growth. It is a decline in the growth rate and
not an actual downturn itself," points out John Band, chief executive
officer, ASK-Raymond James and Associates. And remittances look set to
maintain their pace as well. "Most remittances are still from Indians who
live in the Middle East, and I don't see any slowdown from this segment,"
says CARE's Nagarajan. Remittances totalled $9.8 billion in the nine months
to December 2000. Software exports brought in $4.6 billion during the same
period.
Foreign institutions support
Another recent 'feel-good' sign has been evident in the stock markets too.
Between January and April 2001, eigners poured in Rs 7,368 crore into India's
equity markets - a phenomenal 15 per cent more than what they invested in the
whole of calendar 2000.
Yet, experts aren't reading too much into it. In the past few months,
investors have been fleeing from a shower of profit warnings in the US and
seeking cover in alternative investments. As they rejuggle their portfolios,
some money will inevitably flow into India and other countries, experts say.
Because it isn't affected so much by what's happening externally, they see
India as some kind of a safe haven," says ASK's Band.
Yet some hesitation
Recently, gunning for more foreign direct investments (FDI), the government
opened more sectors for foreign and private participation, including
pharmaceuticals, hotels, banking and astonishingly, even defence. However,
tempting FDI has always been a vexing issue for India.
In 2000-01, FDI did improve slightly, moving 26 per cent higher than the
previous year to $2.4 billion. Yet, China a market India is frequently
compared with in terms of size and potential attracted 20 times more FDI in
the same period. Economists now shrug off FDI as a tool to kick-start
investment in the country. "It's a pittance and it probably will remain
stagnant," says an economist at a foreign research house.
The reasons are not hard to find. Foreigners seeking to invest in India have
many fences to cross. Frequent changes in sector policies, chaotic
infrastructure facilities and nightmarish bureaucratic redtape have often
left foreigners tired and wary of doing business in India.
The stress of investing in India is most clearly visible in the recurring
concerns that have stubbornly dogged US energy giant Enron's 2,148 MW power
project in Dabhol in Maharashtra. After being forced to renegotiate a power
supply deal in 1995 after concluding it in 1992, Enron has hit the headlines
once again.
This time, an almost bankrupt state electricity board (SEB) refuses to pay
its dues for power received and the state government refuses to honour its
commitment to pay in case the SEB defaults.It's led to intense speculation
that, after suffering repeated snags for nearly a decade, Enron might simply
pull out of the project altogether. A disturbing turn of events, since, till
recently, Enron Corp was the biggest foreign investor in India.
It will not be the first time that exasperation will have egged on a foreign
investor to pull out of a project. Earlier, US-based Cogentrix Energy had
also walked out of its $1.5 billion 1,000 MW Mangalore power project citing
endless bureaucratic hurdles.
And there has also been some disappointment over India's much-hyped 300
million middle class which was supposed to be growing rapidly. Many
international firms, inspired by this figure, had scrambled to set up
operations to conquer a huge chunk of this market. Now many are struggling to
break even and still learning to adapt to local tastes a key ingredient for
success. That's why despite all its attempts to open up various sectors,
India still remains a tough sell.
Outlook
With a little help from the rains, India could notch up a growth rate of six
per cent. Many economists have also pointed out that a reforms-studded budget
could also inject some enthusiasm in the patient that is the economy. Strong
measures include plans to reform labour laws and government employment. These
are expected to boost the economy's development, though in the long run.
The recent opening up of various sectors could also revive sentiment,
although whether this will translate into FDI flows is arguable. Still, every
bit helps. The fact remains that it will have to persist in trying to
accelerate the pace of growth if its ambitions of turning into an economic
powerhouse are to be realised. After all, for the second most populous nation
in the world with one of the biggest markets, its economic power is still
nowhere near the figure its size suggests.

Acegas shares, potential for growth (Acegas, le potenzialita di crescita del
titolo)

05/14/2001
La Repubblica
41
Copyright (C) 2001 Abstracted from La Repubblica in Italian; Source: World
Reporter (TM)

Italian brokers Rasfin SIM have indicated the potential for growth in the
shares of Acegas, the former municipal utility of the Italian city of
Trieste. Acegas closed the first quarter of this year with turnover of L137bn
(+45 per cent). Results attributed in part to the start of production of
Estenergy, a consortium of the utilities of Udine, Trieste, Gorizia and Enron
of the US, which supplies energy and services to parts of Friuli.
Also significant, according to Rasfin, were investments over the period,
which totalled L43bn.

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

A Section
IN THE LOOP Al Kamen
Roundabout to the Oval Office
Al Kamen

05/14/2001
The Washington Post
FINAL
A19
Copyright 2001, The Washington Post Co. All Rights Reserved

Sometimes even Cabinet officers can lose their way in the White House. So
there was Health and Human Services Secretary Tommy G. Thompson, clearly lost
Friday at a fork in a corridor near White House spokesman Ari Fleischer's
office.
"How do you get to the Oval Office?" he asked a group of reporters and was
directed to the right door, according to a wire report.
Fleischer, though, told reporters that was the wrong answer.
"How do you get to the Oval Office? First you win the Iowa caucus, then you
lose the New Hampshire primary, then you make a comeback in South Carolina,"
he quipped as he recalled President Bush's early primary campaign last year.
Passport, Please
Meanwhile, folks at Thompson's HHS may be taking to calling him "Tightwad
Tommy." Seems a memo went out March 15 undermining Alaska and Hawaii's claims
to be part of the United States.
Employees "must clear . . . international travel" with the office of the
deputy chief of staff for operations, said the memo from the deputy chief, Ed
Sontag. To clarify, "HHS employees seeking to travel outside the continental
U.S." for meetings and conferences, must get permission and then file trip
reports within two weeks.
This sent officials calling around, asking whether trips to those states were
to go through the international travel approval system just as if they were
going to Russia or the Congo.
Apparently so. The edict would appear to include even the nearby Virgin
Islands and practically next-door Puerto Rico as well. Loop Fans can only
hope this outrage doesn't spread to other agencies. It would make for some
cold winters.
Chewing Out on the Bush Beat
Speaking of Fleischer, the usually affable spokesman is not reluctant to get
tough with reporters when he believes they've stepped out of line.
Sheriff Fleischer was on duty Thursday and upset with Houston Chronicle
reporter Bennett Roth. Bush that morning urged parents to talk more to their
kids about the dangers of drugs.
Roth, at Fleischer's daily briefing, asked: "Ari, the president talked about
parental involvement today. How much has he talked to his own daughters about
both drugs and drinking? And given the fact that his own daughter was cited
for underage drinking, isn't that a sign that there's only so much effect
that a parent can have on their children's behavior?"
Fleischer responded brusquely: "No, I think, frankly, there are some issues
where I think it's very important for you all in the press corps to recognize
that he is the president of the United States; he's also a father. And the
press corps has been very respectful in the past of treating family matters
with privacy, and I'm certain that you're going to do so again. I hope so."
Fleischer later called Roth to chastise him, telling him his question had
been "noted in the building."
Competing to Oversee the Corps
Former Mississippi representative Mike Parker, a Democrat-turned-Republican
who lost a gubernatorial bid a couple of years back, had been seen as the
pick to be assistant secretary of the Army for civil works, overseeing the
Army Corps of Engineers.
Parker, a former undertaker, had support from the barge industry, the various
corps constituencies and fellow Mississippian Trent Lott, the majority leader
of the Senate.
But the Pentagon's choice was Lawrence Izzo, recently retired president of
Enron Engineering and Construction Co. who has been in the mix for several
jobs. Izzo, a West Point grad, had 23 years at the Corps before going to
Enron, former home of Army secretary-designate Thomas White.
The majority leader was said to be most unhappy. The latest word is Parker's
getting the job.
Ex-Reporters Move On
Kenneth J. Klein, a former reporter who has worked for 17 years for Florida
Sen. Bob Graham (D), most recently as chief of staff, is joining the Outdoor
Advertising Association of America as executive vice president for government
relations.
Former Washington Post colleague Thomas W. Lippman, a 33-year national,
foreign and financial reporter and author who became vice president of
communications at the World Wildlife Fund in 1999, is moving next month to be
managing director at communications consulting firm Chlopak, Leonard,
Schechter & Associates.
Confirmation Countdown
Staff writer Michael Grunwald contributed to this report.

http://www.washingtonpost.com

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

Largest LNG 13 Conference Opens Today

05/14/2001
Korea Times
Copyright (C) 2001 Korea Times; Source: World Reporter (TM)

The largest-ever International Conference and Exhibition on liquefied natural
gas (LNG 13) opens today for a four-day run at the Convention and Exhibition
Center (COEX) in southern Seoul.
A total of 125 companies and organizations represented by 2,500 delegates and
exhibitors from 50-odd countries, including Japan, the United States, Britain
and Australia, are participating in the international event, co- organized by
the Korea Gas Union and the Korea Gas Corp. (KOGAS).
Commerce, Industry and Energy Minister Chang Che-shik will be delivering
congratulatory remarks on behalf of Prime Minister Lee Han-dong who is
currently on an official trip to the Middle East. There will be a visual
presentation from Lee during the opening ceremony.
``We have spent more than a year preparing for this international event which
is the largest in terms of the number of participants and exhibitors,'' said
Lee Seung-hwan, chairman of the Korean National Organizing Committee.
LNG 13 is 15 percent larger than the conference and exhibition held in
Australia back in 1998 which reflects the growth of the industry, Lee
explained, adding that the demand for LNG has been increasing rapidly here in
Korea.
A wide range of topics will be presented during the four days of conferences
and exhibitions, helping to showcase the importance of the LNG industry.
Among the numerous papers to be presented at the triennial event are ``Old
World, New World, Tomorrow's World: How LNG Has Changed Since LNG 12'' and
``The Next Generation of LNG Plants.''
``Hosting this meaningful event in Korea will help elevate Korea's image in
the international market, particularly with the sheer scale and size of LNG
13,'' said Kim Myung-kyu, president and CEO of KOGAS and chairman of the
Korea gas Union.
The conference will include paper sessions, workshops, poster sessions and
film presentations while exhibitors will demonstrate their exclusive
technologies for the exploration and production of LNG as well as plant
construction.
The official sponsors of LNG 13 are the International Gas Union, the Gas
Technology Institute and the International institute of Refrigeration while
the major sponsors are Shell Gas and Power, KOGAS, LG-Caltex, SK-Enron, the
Qatari Group, TotalFinaElf, British Petroleum and Exxon Mobile.
In addition to the conference and exhibition, there will be a technical visit
to the Inchon LNG Receiving Terminal in Inchon, about 50 kilometers west of
Seoul, on Friday.

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


I don't mean to hound you, but the customer is asking.  Any luck on completing this?  Please let me know.  Thanks

DG

 -----Original Message-----
From: 	Giron, Darron C.
Sent:	Tuesday, October 16, 2001 1:14 PM
To:	Anderson, Diane
Subject:	Heartland and Twister Unwinds

Diane,

Heartland Energy Group, Inc.
We essentially terminated VU4418.1 and VZ4240.1 on 9/24/01 and paid them $69,200 on 9/26/01 which is in VZ4240.3

Twister Gas Services, LLC
This is more complicated.  We terminated VL2515.1 and Y05186.2 totally.  We partially terminated VN4969.1 (Oct-01 & Nov-01 only), VU4647.1 (Oct-01 thru Dec-01 only), and Y05186.1 (Oct-01 thru Dec-01 only).  They were terminated on 9/24/01 and they were paid $116,700 on 9/26/01 which is in Y05186.7

I sent a fax to 713-646-2495 of the Termination Agreement they have for a prior deal.  They want one similar to this for these two deals.  Please call if you have any questions.  I appreciate your help.

DG
3-9573


I love this--even more so because it is being circulated by one of our
competitors.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 06/23/2000
03:40 PM ---------------------------

> -----Original Message-----
> From: Cook, Mark
> Sent: Friday, June 23, 2000 11:07 AM
> To: Horgan, V.J.; Hooker, David; Poehling, Robert
> Subject: FW: It Could Happen
>
> Funny!
>
> FOR IMMEDIATE RELEASE
> -----------------------
> Today Enron and Hades announced a definitive energy services agreement
> said to be worth an estimated $666 Trillion.  In the deal, Enron will
> provide both gas and electric commodities to Hades' facilities throughout
> and under North America.  John D. Rockefeller, former CEO of energy
> monopolist Standard Oil, is now head of Hades' energy management division.
> Said Rockefeller, "Obviously Hell has significant heating demands.  While
> eternal flames are a great idea in concept, they
> require vast and reliable fuel resources.  Enron was the only supplier
> willing to make a deal with my boss, and, as a former monopolist, I just
> like the way they do business."
>
> A spokesperson for Enron said the two cultures were able to work easily
> together during negotiations.  According to the company, "The deal fits
> both companies exceptionally well.  With Hades' ability to attract and
> retain new customers, we see this as a fabulous growth opportunity for
> millennia to come."  According to several energy industry insiders, Hades'
> high heating demand with very little need for summer air conditioning make
> it a
> very attractive energy portfolio addition.
>
> Hades is a multinational corporation with millions of sites worldwide and
> approximately 173 quintillion customers.  The entity boasts sustained high
> growth rates over the last two thousand years. Enron is one of the world's
> leading energy and communications companies. The company owns
> approximately $37 billion in energy and communications assets.  Enron
> ranks in the top quarter of Fortune's "Best 100 Companies to Work For if
> You Can Keep A Job There and Don't Mind Working 80 Hours A Week," and is
> among the most respected corporations in America, as ranked by customers
> with respect-us-or-get-curtailed clauses in their energy supply contracts.


I noticed it - that sux cause I loved it and drove people by just to show them...Nathalie
  ----- Original Message -----
  From: bridgetupton@aol.com
  To: emca@yahoogroups.com
  Sent: Thursday, February 28, 2002 5:07 PM
  Subject: *EMCA* More theft

  The "eyes of Texas" are no longer upon us as we walk past the "Fence of The Month" on the corner of Fargo and Stanford.  The owner Karen Carter commented that art takes on a life of its own. They think it was taken Sunday night.
        Yahoo! Groups Sponsor
              ADVERTISEMENT

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Tanya,

Please, ask him to make the arrangements.

Vince

Tanya Tamarchenko
05/25/2000 11:19 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Executive Program on Credit Risk Modeling

Yes, I think it is useful for Vincent to attend the program.

Tanya.

Vince J Kaminski
05/22/2000 09:50 AM
To: Tanya Tamarchenko/HOU/ECT@ECT
cc:
Subject: Executive Program on Credit Risk Modeling

Tanya,

Another thought.

Should Vincent go as well?

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/22/2000
09:52 AM ---------------------------

Vince J Kaminski
05/22/2000 08:10 AM
To: Tanya Tamarchenko/HOU/ECT@ECT
cc:
Subject: Executive Program on Credit Risk Modeling

FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/22/2000
08:12 AM ---------------------------

"Kashiwamura, Shelby" <kashiwamura_shelby@gsb.stanford.edu> on 05/18/2000
02:03:19 PM
To: "Isero, Alicia" <isero_alicia@gsb.stanford.edu>, "Kashiwamura, Shelby"
<kashiwamura_shelby@gsb.stanford.edu>
cc:  (bcc: Vince J Kaminski/HOU/ECT)
Subject: Executive Program on Credit Risk Modeling

Subject: ANNOUNCEMENT: Executive Program on Credit Risk Modeling

Credit Risk Modeling for Financial Institutions
October 15 - 20, 2000
At Stanford University Business School

Risk management specialists, Stanford Business School professors of finance
Darrell Duffie and Kenneth Singleton will be repeating their successful
executive program on Credit Risk Pricing and Risk Management for Financial
Institutions.  The course is created for risk managers, research staff, and
traders with responsibility for credit risk or credit-related products,
including bond and loan portfolios, OTC derivative portfolios, and credit
derivatives.

This program includes:
* valuation models for defaultable bonds, OTC derivatives, and credit
derivatives, with empirical applications to corporate and sovereign markets
* empirical and theoretical assessments of models for measuring credit
risk, with correlation, for portfolios
* the strengths and limitations of current practice in credit risk
measurement
* practical issues in implementing credit modeling and risk systems
* estimation of default and transition probabilities, and the
correlations among the default risks of publicly traded companies, from
historical data

___________________________________________________________

Application Form:
Credit Risk Modeling for Financial Institutions
Stanford, October 15 - 20, 2000

This form may be completed and returned by email, or may be printed and sent
by fax to:

Stanford GSB Executive Education Programs
Fax Number: 650 723 3950

You may also apply and see more detailed information by visiting our web
site at:

www.gsb.stanford.edu/exed/crm

Applications will be acknowledged upon receipt. If you have not received an
acknowledgement within two weeks, please contact us.

Please complete all sections. All information is kept strictly confidential.

Name:
Put an x beside one, please:  Male:               Female:

Citizenship:

Job Title:

Company:

Your company's main activity:

Business Mailing Address:

Business Phone (all codes please):
Business Fax :
Email Address:
Home Address:

Home Phone:
Nickname for identification badge:
Emergency Contact Name:
Emergency Contact Phone:

Title of person to whom you report:
Your job responsibilities and experience related to this course: (Please
provide a brief job summary here, or attach and send a biographical summary
containing information relevant to your purpose and qualifications for the
course.)

College or University Education: please list, by degree:
 College or  University                Dates    Degree Granted

 _________________                _____    _____________

_________________                _____    _____________

Please note:
All classes and discussions are conducted in English.
In order to reserve a place in the course, the program fee of US$7,500 is
due upon notification of acceptance. This fee covers the tuition, single
room, meals, and all course materials (including a proprietary manuscript on
credit risk pricing and measurement).
Our refund policy is available upon request.

Please state the source from which you heard about this course:

Name and Date:

If you would like a hard copy brochure and application form, please contact:
(make sure to include your MAILING ADDRESS)

Shelby M. Kashiwamura
Program Manager
Executive Education
Stanford Graduate School of Business
(650) 723-9356 Phone
(650) 723-3950 Fax
kashiwamura_shelby@gsb.stanford.edu


I think a rebuttal would be in order if others agree.

 -----Original Message-----
From: 	Nicolay, Christi L.
Sent:	Thursday, October 18, 2001 4:42 PM
To:	Shelk, John; Shapiro, Richard; Steffes, James D.
Cc:	Robertson, Linda; Novosel, Sarah
Subject:	RE: Southern Co.'s Testimony

Do we need to specifically rebut this?  Enron did file a study to support the natural markets of the SE, and, while we generally have stated responses to his issues in various forums, do we need to respond item by item?  (FYI--I have never heard the "lake" analogy before -- his characterization of it as the opponent position helps his case, but it is incorrect because as far as I know, there is no one proposing a system that ignores constraints).

Also, we have not focused much recently on the transmission pricing issues.  This may be an opportunity to discuss this in context.  He seems to use it as a reason against the Southeast RTO.

 -----Original Message-----
From: 	Shelk, John
Sent:	Monday, October 15, 2001 4:08 PM
To:	Shapiro, Richard; Steffes, James D.; Nicolay, Christi L.
Cc:	Robertson, Linda; Novosel, Sarah
Subject:	FW: Southern Co.'s Testimony

Below is a link to Southern Co. CEO Allen Franklin's prepared testimony at the Barton hearing last week (October 10).  He says they favor wholesale competition, but he then goes on to talk about the virtues of geographically smaller RTOs, with a phased approach of smaller RTOs that could later merge to become larger (although the Barton discussion draft would prevent such mergers).  The statement also chronicles their involvement in the Southeast mediation process.

In his oral testimony, Franklin kept ephasizing the lack of FERC cost/benefit studies on RTOs and the similar (alleged) lack of studies and analysis to support the 4 RTO model.

 -----Original Message-----
From: 	Nersesian, Carin
Sent:	Monday, October 15, 2001 4:59 PM
To:	Shelk, John
Subject:	Southern Co.'s Testimony

http://energycommerce.house.gov/107/hearings/10102001Hearing387/Franklin647.htm


next Thursday at 7:00 pm

To: John Arnold/HOU/ECT@ECT
cc:
Subject: Re:

Yes, yes, yes.  When would be helpful, bubbie.

John Arnold
01/09/2001 04:10 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject:

Bubbie:
You are hereby invited to the tenth annual Spectron/Enron Celebrity Tony's
dinner featuring Brian Tracy, John Arnold, and Mike Maggi.

Regrets only,

John


We have received an executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   March 31, 1997

Enron Entity:   Risk Management & Trading Corp.

Counterparty:   Enron Engineering & Construction Company

Transactions Covered:  Approved for all products

Confirming Entity:  Risk Management & Trading Corp.

Governing Law:   Texas

Copies will be distributed.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com


Hi there.

I have not received my password yet.  Do I use the one from the end of 2000?

Thanks,

Kay

"Performance Evaluation Process (PEP)" <perfmgmt@enron.com> on 05/17/2001
07:40:12 PM
To: "CYNTHIA MANN" <kay.mann@enron.com>
cc:

Subject: Mid-Year 2001 Feedback Deadline

CYNTHIA MANN,

The PEP system closes on Friday, May 25, 2001.

Our records indicate that you have not selected reviewers. Please suggest a
list of reviewers as quickly as possible - the feedback process cannot begin
until your list of reviewers has been reviewed and approved by your
supervisor.

To suggest your reviewers, access PEP at http://pep.enron.com and select
'Suggest Reviewers' from the Main Menu.

If you have any questions regarding the PRC process or the PEP system, please
contact the PEP Help Desk at:
Houston: 1.713.853.4777, Option 4 or email: perfmgmt@enron.com
London: 44.207.783.4040, Option 4 or email: pep.enquiries@enron.com


See Attached File

 - report.rtf


I am away from the office Monday, November 26 and Tuesday, November 27.  Upon my return on Wednesday, November 28, I will return your message.  If you require immediate assistance, please call Sharon Crawford at (403) 974-6726.

Thanks
Linda


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  , 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude32.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas32.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil32.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded32.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG32.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG32.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL32.pdf

Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606  USA
Tel:  312-368-6149
Fax:  312-368-2281
soblander@carrfut.com
http://www.carrfut.com


Start Date: 4/4/01; HourAhead hour: 22;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040422.txt


FYI.
---------------------- Forwarded by Mary Hain/HOU/ECT on 01/08/2001 02:58 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Almeida, Keoni" <KAlmeida@caiso.com>
12/27/2000 02:57 PM

To: ISO Market Participants
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI
CIPANTS@caiso.com>
cc: ISO Client Relations <ISOClientRelations@caiso.com>, "Detmers, Jim"
<JDetmers@caiso.com>, "O'Neill, Ean" <EO'Neill@caiso.com>, "Abernathy, Randy"
<rabernathy@caiso.com>, "Bibb, Tracy" <TBibb@caiso.com>, "McIntosh, Jim"
<JMcIntosh@caiso.com>, "Riley, Ed" <ERiley@caiso.com>, "Hubner, Kim"
<KHubner@caiso.com>
Subject: CAISO Notification: DOE Certification for Dec. 28

ATTACHED, FOR YOUR INFORMATION ONLY IS THE DOE CERTIFICATION LETTER ISSUED
DECEMBER 27th for OPERATING DAY DECEMBER 28, 2000.

PLEASE NOTE - THE RESOURCE INFORMATION REQUEST, REFERENCED IN THE
CERTIFICATION, WAS DIRECTED ONLY TO SPECIFIC ISO MARKET PARTICIPANTS
PRIMARILY LOCATED NORTH OF THE ELECTRIC TRANSMISSION PATH 15.

UNLESS YOUR REAL-TIME OPERATIONS DEPARTMENT RECEIVED A SPECIFIC E-MAIL AND
FOLLOW-UP TELEPHONE CONFIRMATION, NO FURTHER ACTION IS REQUIRED AT THIS
TIME.

THE INTENT OF THIS GENERAL MARKET DISTRIBUTION IS FOR INFORMATION AND NOTICE
ONLY.

PLEASE DIRECT ANY QUESTIONS TO YOUR RESPECTIVE ISO CLIENT REPRESENTATIVE.

 <<001227 Certification Ltr__.doc>>  <<001227 Analysis Load_A.doc>>

Regards,

Keoni Almeida
California Independent System Operator
phone: 916/608-7053

 - 001227 Certification Ltr__.doc
 - 001227 Analysis Load_A.doc


---------------------- Forwarded by Tana Jones/HOU/ECT on 12/10/99 05:05 PM
---------------------------

Molly Harris
12/10/99 05:01 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Amelia Alland/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT
Subject: EOL Credit Responses 12/10

Please find attached Credit's EOL responses for 12/10.

Regards
Molly


calendar
----- Forwarded by Steven J Kean/NA/Enron on 01/28/2001 11:23 AM -----

	Rebecca Carter
	Sent by: Kelly Johnson
	01/24/2001 03:54 PM

		 To: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff
Baxter/HOU/ECT@ECT, Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Rick Buy/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON, Diomedes
Christodoulou/SA/Enron@Enron, David W Delainey/HOU/ECT@ECT, James
Derrick/Corp/Enron@ENRON, Andrew S Fastow/HOU/ECT@ECT, peggy_fowler@pgn.com,
Mark Frevert/NA/Enron@Enron, Ben F Glisan/HOU/ECT@ECT, Kevin Hannon/Enron
Communications@Enron Communications, David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stanley Horton/Corp/Enron@Enron,
Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J
Kean/NA/Enron@Enron, Mark Koenig/Corp/Enron@ENRON, Mike
McConnell/HOU/ECT@ECT, Rebecca McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jeffrey McMahon/Enron@EnronXGate, Mark Metts/NA/Enron@Enron, Cindy
Olson/Corp/Enron@ENRON, Karen S Owens@ees@EES, Ken Rice/Enron
Communications@Enron Communications, Jeffrey Sherrick/Corp/Enron@ENRON, John
Sherriff/LON/ECT@ECT, Jeff Skilling/Corp/Enron@ENRON, Greg
Whalley/HOU/ECT@ECT, Thomas E White/HOU/EES@EES, Philippe A Bibi/HOU/ECT@ECT,
Raymond Bowen/HOU/ECT@ECT, Michael R Brown/LON/ECT@ECT, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James A
Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John J Lavorato/Corp/Enron@Enron,
Jeffrey A Shankman/HOU/ECT@ECT, Jeremy Blachman/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Dan Leff/HOU/EES@EES, Mark S Muller/HOU/EES@EES,
Matthew Scrimshaw/LON/ECT@ECT, Marty Sunde/HOU/EES@EES, David Cox/Enron
Communications@Enron Communications, Steve Elliott/Enron Communications@Enron
Communications, Jim Fallon/Enron Communications@Enron Communications, Rod
Hayslett/FGT/Enron@ENRON, Danny McCarty/ET&S/Enron@Enron
		 cc: Rex Rogers/Corp/Enron@Enron, Terry West/Corp/Enron@ENRON, Jim
Armogida/Corp/Enron@ENRON, Mary Joyce/HR/Corp/Enron@ENRON, Pam
Butler/HR/Corp/Enron@ENRON, Stephanie McGinnis/HOU/ECT@ECT, Sharon E
Sullo/HOU/ECT@ECT, Brenda Castillo/NA/Enron@Enron, Marcia
Manarin/SA/Enron@Enron, Susan Skarness/HOU/ECT@ECT, Stacy
Guidroz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beena
Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen K Heathman/HOU/ECT@ECT,
Sharron Westbrook/Corp/Enron@ENRON, Molly Bobrow/NA/Enron@Enron, Kay
Chapman/HOU/ECT@ECT, Stephanie Harris/Corp/Enron@ENRON, Bridget
Maronge/HOU/ECT@ECT, mary_trosper@pgn.com, Nicki Daw/NA/Enron@Enron, Carol
Ann Brown/Enron Communications@Enron Communications, Elaine
Rodriguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cindy Stark/Corp/Enron@ENRON,
Mary E Garza/ENRON_DEVELOPMENT@Enron_Development, Maureen
McVicker/NA/Enron@Enron, Joannie Williamson/Corp/Enron@ENRON, Cathy
Phillips/HOU/ECT@ECT, Loretta Brelsford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Sue Ford/Enron@EnronXGate, Dolores Fisher/NA/Enron@Enron, Kathy
McMahon/NA/Enron@Enron, Karen Owens/HOU/EES@EES, Dorothy Dalton/Enron
Communications@Enron Communications, Christina Grow/Corp/Enron@ENRON, Lauren
Urquhart/LON/ECT@ECT, Sherri Sera/Corp/Enron@ENRON, Liz M Taylor/HOU/ECT@ECT,
Judy G Smith/HOU/EES@EES, Inez Dauterive/HOU/ECT@ECT, Veronica
Valdez/HOU/ECT@ECT, Teresa Wright/HR/Corp/Enron@ENRON, Peggy
McCurley/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Fiona Stewart/LON/ECT@ECT,
Jana L Paxton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mrudula
Gadade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connie
Blackwood/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tammie Schoppe/HOU/ECT@ECT,
Kimberly Hillis/HOU/ECT@ect, Jennifer Burns/HOU/ECT@ECT, Sharon
Dick/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Binky
Davidson/HOU/EES@EES, Kerry Ferrari/LON/ECT@ECT, Carol Moffett/HOU/EES@EES,
Jennifer T Adams/HOU/EES@EES, Leah Rijo/Enron Communications@Enron
Communications, Lucy Marshall/Enron Communications@Enron Communications,
Kathy Campos/GPGFIN/Enron@ENRON, Julie Armstrong/Corp/Enron@ENRON, Taria
Reed/Corp/Enron@ENRON
		 Subject: ENE Committee and Board Meeting Schedule - 2001