Jeff, what exactly do you want Craig going to be doing?  Please forward a job
scope for Jen and Craig.  Then I will speak with Max if appropriate. I
apologize but we have spoken about a lot of different scopes - it would be
helpful to start from a scope on a piece of paper that we both agree upon.
Just e-mail.  Thanks Jeff.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 07/10/2000
11:29 PM ---------------------------

	From:  Jeffrey A Shankman                           07/10/2000 05:08 PM

To: David W Delainey/HOU/ECT@ECT
cc:
Subject:

One thing I forgot to mention is that if we do give Mexico mid market to
Craig, we need to set up the organization out of Houston, (I think).  Max has
been interviewing candidates for mid market positions there, and I would like
those guys to report to Craig.  Is Max with us?  Jeff


Ted Bland and Jeff Shankman are looking for Managers and above to interview
candidates for the Associate / Analyst program this Saturday, December 9th.
If you are interested or if there is someone in your group that you would
like to volunteer, please contact Ted Bland at 3-5275.

Thanks!
Jennifer


Let's talk.

 -----Original Message-----
From: 	Barbarawi, Moe
Sent:	Tuesday, November 13, 2001 3:40 PM
To:	Edison, Andrew
Cc:	Sarkissian, Arshak
Subject:	Akamai accelerated.xls

Andrew, per Arshak's request I am sending you the attached spreadsheet for your review.
please give me a call when you have a minute so we can go over what Arshak wants to accomplish.

Arshak is looking to have an addendum to the original Akamai contract to reflect the accelerated payment schedule according to the spreadsheet. please keep in mind that the start/end dates might change

Thanks
Moe
713-853-9395


I will be in the Calgary office with Peggy Hedstrom and her team next week on
Wednesday and Thursday, February 7 and 8.

Do either one of you have a specific issue that needs to be addressed that I
could handle while I am in Calgary?  My agenda with Peggy and her team is
pretty full, but I can add to that anything that you know of that we need to
address.  Just let me know.

That puts me in Calgary for the staff meeting on Wednesday.  I will sit in
with Rob Milnthorp on the video conference for the first hour of the
meeting.  I already had a meeting scheduled with all of Peggy's team during
the second hour of your staff meeting.  Due to location constraints, we will
have to keep that meeting as scheduled.  So I will have to step out of the
staff meeting for the second hour.


Hey Mom,
I would like to see the Mandell and the Huldy - preferably tomorrow before
4ish.  Let me know if that works for you.  Dad is welcome to see whichever
houses he would like.

FYI, I am meeting with Bob Dunn today after work, and I made copies of the
contracts.

L,
E

"K. Bass" <daphneco64@bigplanet.com> on 02/09/2001 06:43:42 AM
Please respond to "K. Bass" <daphneco64@bigplanet.com>
To: Eric.Bass@enron.com
cc:
Subject: Re: Re:Mandell

Hi Eric,

Do you want me to check with the realtors to see if those houses are open
this weekend and, if not, do you want me to make appts.?  Let me know.  I'll
do that today.  I would like Dad to see Mandell but that's up to you.  He
can't do it today, I don't think.  But, if you would like to see something
today, I'll try to arrange it.  I would prefer to see all of them the same
day but I will leave the up to you.  I didn't want you to think that I have
forgotten about you.  Did you download the contract and make copies?  LU-M
----- Original Message -----
From: <Eric.Bass@enron.com>
To: "K. Bass" <daphneco64@bigplanet.com>
Sent: Wednesday, February 07, 2001 2:45 PM
Subject: Re: Re:Mandell

>
> no i haven't driven by yet.  i would like to see the mandell house again
> before putting a contract in on it.
>
> -e
>
>
>
>
> "K. Bass" <daphneco64@bigplanet.com> on 02/07/2001 02:45:35 PM
>
> Please respond to "K. Bass" <daphneco64@bigplanet.com>
>
> To:   Eric.Bass@enron.com
> cc:
> Subject:  Re: Re:Mandell
>
>
> Did you drive by Huldy?  If so, what did you think?
>
> We can do a contract whenever you want.  Did you call B. Dunn?
>
> Talk to you later.  Love, Mom
> ----- Original Message -----
> From: <Eric.Bass@enron.com>
> To: "K. Bass" <daphneco64@bigplanet.com>
> Sent: Wednesday, February 07, 2001 11:11 AM
> Subject: Re: Re:Mandell
>
>
> >
> > I am fine with seeing more houses before buying but was thinking that it
> > might be a good idea to get the ball rolling on the Mandell house (i.e.
> low
> > ball contract). This does not mean that I am wanting to buy right away,
> but
> > more of testing the market and resolve of sellers.  Let me know when you
> > are available to see more houses.  I am free whenever, except for
> Saturday
> > after around 4 pm.
> >
> > L,
> > E
> >
> >
> >
> >
> >
> > "K. Bass" <daphneco64@bigplanet.com> on 02/07/2001 10:19:51 AM
> >
> > Please respond to "K. Bass" <daphneco64@bigplanet.com>
> >
> > To:   Eric.Bass@enron.com
> > cc:   "Larry W. Bass" <lwbthemarine@bigplanet.com>
> > Subject:  Re: Re:Mandell
> >
> >
> > It's been so long since we talked, I don't know what I'm supposed to be
> > doing.
> >
> > Just finished real estate school and learned a few things - well, my
> memory
> > was refreshed.  Re: precertification for a loan.  A non-committal
> response
> > from an online source does not mean that you are precertified.  And, you
> > must be real careful about all conditions relating to said loan.  Dad
> > thinks
> > you should call Bob Dunn (call Dad for number.).  Bob is in the mortgage
> > business and is a good guy to have on your side.  His office is near San
> > Felipe and Voss.  You should probably get this ball rolling so you are
> > ready, don't you think?
> >
> > I am busy today but let me know if you want to see anything Friday.  We
> > could wait until the weekend to see what's open and make appts. for
> > whatever
> > else you want to see.  I recommend that you see a few more before making
> an
> > offer but that is up to you.
> >
> > Let me know what I can do.  LU-M
> > ----- Original Message -----
> > From: <Eric.Bass@enron.com>
> > To: <daphneco64@bigplanet.com>
> > Sent: Wednesday, February 07, 2001 9:11 AM
> > Subject: Re:Mandell
> >
> >
> > > Any news?
> > >
> > > -e
> > >
> >
> >
> >
> >
> >
> >
> >
>
>
>
>
>
>
>


Hi Steve,

At our last meeting we discussed having a few Enron people meet with Chuck
Henry, Rice Librarian and Associate Provost, to discuss Enron Broadband and
possible collaborations with Rice and the new International University
Bremen. I know Traci Warner needs to be involved from Enron, but could you
let me know who else so I can try to get everyone together?

Thanks,

Catherine

+++++++++++++++++++++++++++
Catherine S. Del Paggio
Senior Director of Development
Rice University
713.348.4672


Interested in meeting students, business leaders, politicians and decision
makers from around the world in a setting that fosters dialogue and
communication? Why not apply/compete for a place in the 32nd ISC symposium
at University of St. Gallen, Switzerland. The symposium takes place from
May 23 to 25 (Note that this conflicts with the Haas IBD program) 2002.

Full details are available at:

http://www.isc-symposium.org/isc/31stsymposium/32ndsymposium.htm

Application requirements are described below:

Topic:  "Pushing Limits - Questioning Goals"

  Applicants' qualifications
  Undergraduate and postgraduate students in all fields of study
  enrolled at regular universities throughout the world, born in 1972
  or after.

  Substance
  We ask you to contribute your visions and entrepreneurial ideas.

  Your contribution can be an essay, a scenario, a project report or
  proposal, a multimedia presentation, an entrepreneurial concept or
  any other form of professional work which you would like to
  present to the audience of the 32nd ISC-Symposium. It should be
  constructive, provocative or instructive, inspiring thoughts and
  actions and introducing a new approach or unconventional ideas. It
  has to be the original work of the author.

  Format
  5 to 7 pages, max. 2100 words (excl. bibl.) No name on the front
  page or any subsequent page. Accompanied by a 3.5'' high
  density disk containing the whole essay (no manual hyphenation).

  Disk
  The disk label should contain your name, operating system (MS
  Windows or MacOS) and the application used.

  Video
  VHS max. 15 minutes, label shall contain your name.

  Language
  English, German or French

  Deadline
  February 15, 2002 (date of postmark)

  Copies
  Please submit 2 copies of your contribution, accompanied by the
  attached application form, proof of current enrollment, a 3.5'' high
  density disk containing the whole essay (no manual hyphenation),
  a signed letter of confirmation that your contribution is your own
  work and 1 passport-size photograph. The material will not be
  returned and may be used for ISC publication and/or included in
  the ISC website.

  Sample Essays
  You find last year's winner essay of the ISC Wings of Excellence
  Award in our Archive under the menu point Symposium and Past
  Symposium.
===============================
Sebastian Teunissen
Executive Director
Clausen Center for International Business and Policy
Haas School of Business
University of California, Berkeley
Berkeley, California 94720-1900 USA
Tel:   (510) 643-4999
Fax:  (510) 642-8228
http://www.haas.berkeley.edu/HaasGlobal


Stop by Teri's desk to give her farewell wishes (and have cookies)!


Please see attached which is being faxed to you (with attachments.)

Linda
202-466-9159


It's perfect now.

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Wednesday, May 23, 2001 3:44 PM
To: Dasovich, Jeff
Cc: McVicker, Maureen; Fleming, Rosalee; Steve Kean@ENRON
Subject: Re: Summary of Core/Noncore Analysis

My apologies, Rosalee.  Not sure what happened.  Let's try again.  Let me
know if you're still having problems.

Best,
Jeff

 << File: core_noncore_status_0523.doc >>


I would only add the ongoing cash collateral issue in Canada (and run spell
check).


All,

There has been some concern about the lack of clarity regarding what
functionality is ready for user acceptance testing in the staging
environment.  To attempt to solve this problem, we have come up with a simple
process that will enhance communication and will allow everyone on the team
to know what functionality is in staging waiting for user acceptance signoff
prior to a release to production.  Please read the attached one page document
that details the proposed process.  Let me know if you have any questions.

Thanks,
Zach


A brilliant concept.  Save the government a bunch of funds.
---------------------- Forwarded by David Rosenberg/FGT/Enron on 02/14/2001 12:48 PM ---------------------------

Linda Harris
02/14/2001 11:05 AM
Sent by:	Linda Harris
To:
cc:	 (bcc: David Rosenberg/FGT/Enron)

Subject:	Future of Military Funding

 - Military_Funding.jpeg


Ben:

I received your message and look forward to seeing the presentation.
My email address is thz@compuserve.com.

Thanks
Tom Zenner


Eric,
      I thought you had talked to Susan about covering for Julie on Friday afternoons.  She needs to know that "covering" means she needs to stay beyond 3:40 (at least until close of business), which is when she rushed out on Friday.  I had phones shifted over to Audrey after I got a call from Cindy looking to find Julie or me.  If you haven't talked with her, I will I'd you'd prefer.

Dan


Jeff

Increase the amount we put into prudency for Friday to 130 Million.


Your deal # 581358.1 is showing a price of 65.70 but on the Real Time
spreadsheet, I see 65.00.  Which is correct?

Thanks for you help

Judy


We think the HoustonStreet disclaimer is not just overkill but entirely
unnecessary.  And I plan to remind all of you of this the next time you claim
the Enron lawyers are too conservative!

Elena Kapralova
06/29/99 09:03 AM
To: Rahil Jafry/LON/ECT@ECT
cc: Louise Kitchen/LON/ECT@ECT, Marcello Romano/LON/ECT@ECT, Paul
Goddard/LON/ECT@ECT, Justin Boyd/LON/ECT@ECT, Gary Foster/Corp/Enron@Enron,
Mark - ECT Legal Taylor/HOU/ECT@ECT
Subject: Disclaimer in HoustonStreet Press Release

Rahil,

According to Clifford Chance, our European Legal Advisor, this disclaimer
must be driven by regulatory and investment issues in US, i.e. SEC
requirements.
In Europe, the paragraph like this would not be necessary in the ress
release, but as our press release will be issued in US, it may need further
investigation with US lawyers....

Rahil Jafry
29/06/99 11:10
To: Louise Kitchen/LON/ECT@ECT, Marcello Romano/LON/ECT@ECT, Paul
Goddard/LON/ECT@ECT, Elena Kapralova/LON/ECT@ECT, Justin Boyd/LON/ECT@ECT,
Gary Foster/Corp/Enron@Enron
cc:
Subject: HoustonStreet.com

Pls. note the disclaimer at the end of the message (highlighted in red).
Justin/Gary, is there a specific legal or PR related reason for this?
Would we have to make similar disclaimers in our press release?  Gary and I
are working on draft press releases currently and will forward those for
your approval soon.

- R
******************************************************************************
***********

Trading Megawatts On the Web: Houston Street Exchange
Launches First Fully Web-Based Trading Floor and Portal for
the Electric Power Industry

Business Wire - June 28, 1999 08:32
PORTSMOUTH, N.H.--(BUSINESS WIRE)--June 28, 1999-- HoustonStreet.com alters
power trading
landscape by increasing the efficiency of how power is bought and sold
Electric power. It's quickly becoming one of the world's largest traded
commodities, yet it's one of the last to be bought and sold over the
Internet. But that's about to change today when Houston Street Exchange
introduces HoustonStreet.com, a new online electric power trading floor that
allows power traders to buy and sell electricity faster and better than
before.
Houston Street Exchange hopes to do for the power industry what E
rade did for the stock market: turn the industry upside down by bringing
together buyers and sellers in a real-time, efficient online format. This
will shift the control of the $70 billion wholesale power market in the
United States by putting it directly into the hands of power marketers,
utilities and other traders that are entering the increasingly deregulated
energy market. HoustonStreet.com serves as a portal for power traders,
providing critical information regarding weather, energy news, stocks and
other direct links necessary for trading electricity. HoustonStreet.com is
pioneering the emerging business-to-business e-commerce power trading
market.
Lights out for phones, static Web sites
HoustonStreet.com delivers what has so far been elusive to the power trader:
an easy-to-use, fully Web-based trading floor that gives power traders all
the information and flexibility they need to post offers, make bids, counter
and re-counter instantaneously, until they close the deal.
Historically, power marketers have attempted to finalize deals while
juggling numerous phones and praying no one is undercutting their
transactions because they can't see a real-time picture of market pricing.
They lose precious time because they must call around to get the latest
market prices.  HoustonStreet.com eliminates that by giving power traders
instant access to current pricing fluctuations in different regional power
markets.
"The real-time environment of the Web naturally lends itself to trading
wholesale power," said Paul Messerschmidt, manager of Power Markets Services
at Energy Security Analysis, Inc. "But existing online products are
inflexible and they typically require proprietary hardware or software to
operate.  Until these issues are rectified, wholesale power trading online
will remain dormant. Houston Street Exchange is positioning itself as the
industry's wake-up call by providing a secure, reliable and flexible
platform that allows traders to trade power the same way they do today, but
more efficiently."
HoustonStreet.com enables traders to make deals based on the product and
term of their choice, providing them the flexibility to buy and sell the
same way they do now, only utilizing a much more efficient and easy-to-use
medium-the Internet.
"The leadership of Houston Street Exchange has a vision for changing the
power marketing industry" said Alan Herrick, senior vice president at
Sapient Corporation (NASDAQ: SAPE) the e-services consultancy that helped
create HoustonStreet.com. "They understand the importance of first-mover
advantage and the need to continually provide a world-class experience for
their targeted market.  Sapient is delighted to be Houston Street's
partner."
Built with power traders in mind
Designed by power traders for power traders, HoustonStreet.com enables users
to maintain total control over each transaction, view their complete trading
history, sort offers and bids by price, term, volume and delivery point, and
trade 24 hours a day, 365 days a year using an online service that ensures
the security and anonymity of each transaction.
Easy to access, navigate and use, HoustonStreet.com gives traders
up-to-the-second market information, allowing them to make the best deals at
the right time without having to leave the site.  Traders are able to
customize their Web page so they can see information that may impact
decisions on trading strategy such as updated weather reports, news
headlines about the energy industry and stock prices.
HoustonStreet.com provides users with the ability to enter their own
information regarding trading agreements and credit status without betraying
the anonymity of other parties. Knowing whether an enabling agreement is in
place and credit issues have been resolved beforehand gives a power marketer
a tremendous advantage in making split-second decisions.
Because of its ease of use and real-time environment, HoustonStreet.com will
allow power traders to make more transactions and become more efficient.
HoustonStreet.com will initially cover the Northeast regions (NEPOOL, PJM,
NY) and expects to roll out the remaining trading regions of the country
over the next several months.
"Wholesale power trading in the United States has grown by about 900 percent
since 1996. In 1998, more than 3.0 billion megawatt hours were traded, with
virtually all of it done over the telephone," said Frank Getman, Houston
Street Exchange's president and CEO. "We are redefining how power is traded
in the wholesale market, making it much more efficient and easy for power
marketers to buy and sell electricity. HoustonStreet.com represents a
powerful convergence of two major trends: growth of business-to-business
e-commerce and deregulation of the electric power industry."
About Sapient
Sapient Corporation is an innovative e-services consultancy. Through the
delivery of integrated services, from business strategy and organizational
transformation consulting through user-centered design and technology
implementation, Sapient helps emerging and evolving businesses transform
themselves into e-businesses. Founded in 1991, Sapient has experienced
strong and consistent revenue growth in each of the last eight years. The
company currently has more than 1,600 employees in offices in Cambridge,
Mass., the company's headquarters, as well as London, Sydney, New York, San
Francisco, Chicago, Atlanta, Dallas and Los Angeles. More information on
Sapient can be found at www.sapient.com.
About Houston Street Exchange
Designed by power traders for power traders, Houston Street Exchange has
developed the first Web portal for trading wholesale electric power.
HoustonStreet.com provides an online trading floor that allows power
marketers to trade power faster, more efficiently and more easily than they
do today.  Launched June 28, 1999, Houston Street Exchange is headquartered
in Portsmouth, New Hampshire.  Houston Street Exchange is a wholly owned
subsidiary of BayCorp Holdings, Ltd., (AMEX: MWH). For more information,
visit Houston Street at www.houstonstreet.com.
This press release contains forward-looking statements. There are a number
of important factors that could cause these forward-looking statements to be
materially inaccurate. These factors include, without limitation, that (i)
power traders may be unwilling or unable to use Internet-based power trading
systems, including HoustonStreet.com, (ii) HoustonStreet.com may not be able
to operate profitably, (iii) technological or systems outages could occur
and (iv) competitors with greater financial, marketing or other resources
could emerge. HoustonStreet.com is a registered service mark of Houston
Street Exchange. Sapient is a registered service mark of Sapient
Corporation.
CONTACT: Beaupre & Co. Public Relations, Inc.
Christa Branscombe, 603/559-5804


-----Original Message-----
From: MCKEE, STEVE [mailto:SMCKEE@sunkistgrowers.com]
Sent: Wednesday, December 13, 2000 5:31 AM
To: Ryan Baker; kirk dawson; Latto, Fraser
Subject: Fwd[2]:Playboy's Year in Review

---- End of Alternatives ----------

 - jan.jpg
 - feb.jpg
 - mar.jpg
 - apr.jpg
 - may.jpg
 - june.jpg
 - july.jpg
 - aug.jpg
 - sept.jpg
 - oct.jpg
 - nov.jpg
 - dec.jpg


I have attached the final draft of the CMS presentation.  Graphics is
currently printing up transparencies, assembling two bound color copies,  and
burning a CD backup.  I will bring them up as soon as they are done.  I am
currently working on the narrative for the presentation and should have
something ready by Thursday at 3:00.

Stuart
3-7190


Pulpex Bulletin for Wednesday, November 21, 2001

             Bid      Ask     Last     High      Low   Vol    OI
NBSK -----------------------------------------------------------
Nov01     394.00        -   401.75   401.75   401.75     6   101
Dec01     404.00   408.00   408.00   408.00   404.00    21   118
Jan02     411.50   416.25   414.00   414.00   414.00     5    85
Mar02     422.00   425.00   425.00   425.00   425.00     5   163
Jun02     439.50   443.00        -        -        -     -    58
Sep02     456.00   466.00        -        -        -     -    62
Dec02     465.00   476.00        -        -        -     -    15
Mar03     475.00   550.00        -        -        -     -     -

BEK ------------------------------------------------------------
Nov01          -        -   389.00   389.00   389.00    14     4
Dec01     395.00   405.00        -        -        -     -    30
Jan02     399.00   409.00        -        -        -     -     -
Mar02     407.00   417.00        -        -        -     -     -

Settlement Prices Futures
          Today      Chg      Prev
NBSK ------------------------------
Nov01    399.75     -0.25    400.00
Dec01    408.00     +4.50    403.50
Jan02    414.00     +2.00    412.00
Mar02    425.00     +6.75    418.25
Jun02    441.25     +0.25    441.00
Sep02    461.00     +2.00    459.00
Dec02    470.50     +0.00    470.50
Mar03    484.50     +0.00    484.50

BEK -------------------------------
Nov01    395.50     -0.50    396.00
Dec01    400.00     +0.50    399.50
Jan02    404.00     +0.00    404.00
Mar02    412.00     +0.00    412.00

The above tables should ideally be viewed using Courier or other fixed fonts.
During Pulpex opening hours (0830-1600 UK Time, 0930-1700 CET),prices
are distributed on our web page: http://www.pulpex.com

If you would like someone else to receive this bulletin or to cancel your own
please mail: info@pulpex.com or fax: +44 20 7065 8941


Santa Clara County, Calif., Joins Lawsuit against Electric Suppliers
San Jose Mercury News, 4/27/01

Huge increase in Calpine earnings / San Jose power supplier rakes in $94.8
million
San Francisco Chronicle, 4/27/01

Creek Seeks Hearing on Power Plant Plan
South Florida Sun-Sentinel, 4/27/01

Oil People
Energy Compass, 4/27/01

Venezuela Moving On Plans To Build Up Natural Gas Indus
Dow Jones Energy Service, 4/27/01

Prospects dim for Enron's India power project.
Energy Compass, 4/27/01

Report Out on Indian Power Project
AP Online, 4/27/01

Enron, India in dispute over future of gas-fired power plant
Associated Press Newswires, 4/27/01

Enron Offl Given Authority To End India Pwr Proj -Report
Dow Jones International News, 4/27/01

German trade sees strong aluminium, copper demand.
Reuters, 4/27/01

Enron India MD authorised to terminate PPA
Business Standard, 4/27/01

Gas hub blues
Energy Compass, 4/27/01

Might is right
Energy Compass, 4/27/01

Venezuela Moving On Plans To Build Up Natural Gas Indus
Bloomberg, 4/27/01

Enron Offl Given Authority To End India Pwr Proj -Report
Bloomberg, 4/27/01

O'Brien and Bauman's Hot Stocks: YHOO ENE SFA YUM
Bloomberg, 4/27/01

Santa Clara County, Calif., Joins Lawsuit against Electric Suppliers
John Woolfolk
04/27/2001
KRTBN Knight-Ridder Tribune Business News: San Jose Mercury News - California
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

Santa Clara County agreed Thursday to join a lawsuit against power suppliers,
alleging they conspired to raise prices and boost profits while subjecting
consumers to higher bills and rolling blackouts.
The county is the first to join the suit originally filed by San Francisco in
January. The suit seeks refunds for consumers of more than $1 billion in
alleged excess electricity profits.
"The San Francisco suit contains significant allegations of manipulation and
collusion by the wholesalers, resulting in the disastrous consequences we're
all familiar with," said lead deputy county counsel Alan Tieger. "We looked
at the evidence on which those allegations were grounded and found they were
indeed supported by the evidence, expert and otherwise."
The suit names a dozen electricity generating and marketing companies,
including Duke Energy and Enron Energy Marketing.
Similar claims have been filed by three water districts in the San Diego
area, and two class-action lawsuits by private attorneys on behalf of
consumers are pending against power suppliers.
The companies have vigorously denied the charges.
"I don't think there will be any evidence of illegal activity by anyone,"
said Jan Smutny-Jones, executive director of the Independent Energy Producers
Association, when asked about various government probes.

BUSINESS
Huge increase in Calpine earnings / San Jose power supplier rakes in $94.8
million
Christian Berthelsen
Chronicle Staff Writer

04/27/2001
The San Francisco Chronicle
FINAL
B.1
(Copyright 2001)
Power producer Calpine Corp. announced a 424 percent increase in earnings
yesterday, capping a series of huge first-quarter earnings announcements by
companies that are profiting mightily during California's energy crisis.
Calpine said it earned $94.8 million in the first three months of the year,
compared with $18.1 million in the same period last year.
That profit level, on $1.2 billion in revenue, puts Calpine in league with
industries such as computer sales and securities brokering in terms of median
return on revenue, and far above the median annual return in the energy
industry, which averages about 1 percent.
Calpine's 30-cents-per-share earnings blew past the average analyst estimate
of 24 cents per share compiled by Thomson Financial/ First Call. The San Jose
power generator said last month that it expected to report earnings of 20
cents to 25 cents.
Williams, a Tulsa, Okla., energy concern that markets electricity in
California produced by AES, the Arlington, Va., generation company, reported
first-quarter profit of $378 million, more than double its results one year
ago. (AES reported gains yesterday of 19 percent). Other energy companies
with business in California -- including Reliant and Enron -- have reported
huge gains in recent days.
Calpine executives yesterday sought to distinguish themselves from other
merchant energy companies in California, saying most of the electricity it
sells here is under relatively low-cost contracts with the utilities, the
state and other entities, and very little of it is sold in the spot market,
where prices are often three times as high.
"It is not our business strategy to play in the volatility of the market but
to have long-term contracts," said Bill Highlander, the company's director of
public relations.
Calpine was not among the companies named in a report last month by the
California Independent System Operator identifying power concerns that gouged
California consumers.
Calpine's stock was hit hard earlier this month when it revealed that it had
not set aside reserves to offset more than $270 million in potentially bad
debt owed by Pacific Gas & Electric Co., which filed for bankruptcy
protection. But Calpine's stock was trading near the top of its 52-week high
yesterday, ending up $2.01, or 3.75 percent, to close at $55.71.
Ann Curtis, Calpine's chief financial officer, said in an interview yesterday
that the company still expects to be paid by PG&E, since the power it
provides under contract to the utilities and the state is much less expensive
than if they voided the contract and sold the power on the spot market.
"It makes sense and would be in the best interest of the utility and state to
honor the contract," Curtis said.
As it had last quarter, Calpine's announcement made no mention of runaway
wholesale energy costs in California, which have severely damaged the state's
leading utilities and are beginning to hurt the state government's finances.
Rather, Calpine Chief Executive Officer Peter Cartwright, in a prepared
statement, attributed the earnings growth to "the continued execution of
Calpine's strategy to acquire and build low-cost generation facilities in key
power markets throughout the U.S." More than half of the company's plants are
in California.
Overall, the supplier operates 44 plants nationwide that generate nearly
6,000 megawatts.
Calpine is one of the darlings of the energy industry, viewed as a model for
a "new" energy company because of its aggressive expansion plans and reliance
on relatively clean, efficient generation. The company is relatively small in
the industry, with a market capitalization of about $16 billion, compared
with about $34 billion for an industry giant like Duke Energy of Charlotte,
N.C.
Calpine is in the midst of a program that is expected by 2005 to boost its
electricity generation portfolio to 70,000 megawatts -- an amount equivalent
to more than twice the energy California uses at this time of year -- from
its current capacity of about 6,000.
Lehman Bros. calls Calpine one of its "top picks" and maintains a strong buy
rating on the company's stock.

CREEK SEEKS HEARING ON POWER PLANT PLAN
DAVID FLESHLER and JEREMY MILARSKY Staff Writers

04/27/2001
South Florida Sun-Sentinel
Broward Metro
3B
(Copyright 2001 by the Sun-Sentinel)
Coconut Creek filed a legal petition with the state Thursday that could stall
Enron Corp.'s plans for a power plant in Pompano Beach.
Attorneys for the city requested an administrative hearing on the state's
plans to issue an air permit for the plant. This could delay the company's
plans by six months, if it doesn't thwart them altogether.
Coconut Creek, which is downwind from the site, is a center of opposition to
Enron. When Pompano Beach held public hearings on the project, condominium
complexes in Coconut Creek chartered buses to pack the meeting rooms with
opponents.
The state Department of Environmental Protection already has announced its
preliminary intention to issue the permit. In its petition, the city argues
that the state had failed to take into account the cumulative effect of the
sources of air pollution in the area.
These include the North Regional Wastewater Treatment Plant, a Florida Power
& Light Co. substation, a Broward County landfill, the Wheelabrator trash
incinerator, the Broward County Hazardous Materials Receiving Facility and
the Waste Management Transfer Station, according to the petition.
Eric Thode, spokesman for Enron, disputes the petition's statement that the
cumulative effect on air quality has not been considered.
"You have to take it into account when you're assessing air quality and the
cumulative impact on air quality," he said.
He said the petition may ruin the company's plans to open the plant by the
summer of next year, but not its plans to build the plant.
"We'll continue to go forward with the project," he said.
Now that the petition has been filed, DEP will decide whether to send it to
the Division of Administrative Hearings. Both sides present their case to a
judge, who recommends whether the department should issue the permit. The
department usually follows the recommendations, said Alvaro Linero, the DEP
administrator handling the Enron petition.
Meanwhile, in Deerfield Beach, Enron officials made their final pitch to a
volunteer committee that's studying their plans for a plant identical to the
one proposed for Pompano Beach.
Company officials promised to build a plant that wouldn't be an eyesore to
the subdivisions of Independence Bay and Waterways. Steve Rose, a traffic
expert for Enron, said the company would build a 10- foot wall on the
neighborhoods' border.
Enron officials plan to plant Australian pines that would grow up to 15 feet
along that wall.
"From Independence Bay, there's virtually no visibility of this facility,"
Rose said.
David Fleshler can be reached at dfleshler@sun-sentinel.com or 954- 356-4535.
Jeremy Milarsky can be reached at jmilarsky@sun-sentinel.com or 954-572-2020.

Oil People.

04/27/2001
Energy Compass
(c) 2001 Energy Intelligence Group. All rights reserved
Jim Hall has been hired for environmental and public safety consulting by
Colonial Pipeline, operator of the largest US refined oil products pipeline.
Hall was until January chairman of the National Transportation Safety Board
(NTSB).
Egil Myklebust has become new chairman of Norway's Norsk Hydro in place of
Einar Kloster, who asked to step down last year. Myklebust retires as
president and chief executive on May 2. The company also has two new board
members, Ingvild Myhre and Elisabeth Grieg. Noble Affiliates president and
chief executive Charles Davidson will take on the additional role of chairman
in place of Robert Kelley, who is retiring.
President George W. Bush plans to nominate career diplomat Richard Henry
Jones as ambassador to Kuwait. Jones, now ambassador to Kazakstan, was
ambassador to Lebanon from 1996-98, and was previously director of the State
Department's office of Egyptian affairs. Bush also plans to nominate Enron
Energy Services vice chairman Thomas White as secretary of the army at the
Pentagon. The Senate has to approve the nominations.

Venezuela Moving On Plans To Build Up Natural Gas Indus
By Charles Roth
Of DOW JONES NEWSWIRES

04/27/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Porlamar, MARGARITA -(Dow Jones)- Venezuela is forging ahead with plans to
develop its natural gas industry through a series of concessions involving
both foreign and local companies. Industry officials reckon the effort should
generate up to $13 billion in investment over the next 10 years.
The biggest push now underway in the "Gasification of the Nation" program is
the awarding of 11 licenses for the exploration and production of non-oil
associated gas in central-western Venezuela, a zone estimated to contain 6
trillion to 20 trillion cubic feet in reserves. Of 34 companies that have
qualified for the concessions, 26 are foreign.
The government is also moving to open up offshore exploration and production
of free gas in the Paria and Plataforma Deltana regions in waters bordering
northeast Venezuela, where officials suspect 40 Tcf to 60 Tcf are waiting to
be discovered.
Jose Pacheco, vice minister of energy, told Dow Jones Newswires that the
government wants to start the pre-qualification process sometime this year.
Trinidad, he said, has been aggressively tapping reserves in the area, some
of which may extend into Venezuela territory. The government has been talking
with authorities from the island to reach some understanding for the
exploitation of the region, he said.
Rafael Ramirez, president of Venezuela's gas regulator, said state-oil
company Petroleos de Venezuela SA (E.PVZ) has allocated $200 million for
exploration in the area. He noted that industry giants such as Royal
Dutch/Shell (RD), BG Group Plc's British Gas (BRG), Exxon Mobil Corp. (XOM),
Phillips Petroleum Co. (P), El Paso Corp. (EPG) and Enron Corp. (ENE) have
already expressed interest in the area.
Pacheco, Ramirez and other industry officials are attending a conference on
gas and electricity.
Fiscal Incentives To Attract Companies
Venezuela, the world's third largest oil producer, has proven gas reserves of
147 Tcf, the eighth largest worldwide. About 10% these reserves are
non-associated. It produces about six billion cubic feet a day, of which 70%
goes to various segments of the country's petroleum industry and 30% is
divided between electricity generation, petrochemicals production, the steel
and aluminum industries, the cement and manufacturing sectors and residential
consumption.
Industry officials want to raise natural gas production to 9 Bcf/d to 10
Bcf/d by 2010.
To meet that goal, Venezuela is enticing companies by exempting them from the
value-added tax, reducing the income tax for them to 34% from 64%, and
lowering it a further 8% in they make new investments. Royalties will be
assessed at 20%.
Companies interested in participating in the expansion of the natural gas
pipeline network are excluded from royalties, Ramirez said. He noted that
official pricing calculations indicate the rate of internal return on
transmission and distribution of gas hovers around 15%, but could be higher
for more efficient companies.
The latest transmission project underway would connect mainland Venezuela and
Margarita Island. The approximately 170-kilometer pipeline will cost $90
million. Bidding is slated to start in the weeks ahead and the project should
be completed by the end of 2003.
Following Margarita, a natural gas pipeline connecting Valencia and Paraguana
is planned. The network should then expand to the offshore platforms and
ultimately link the populated cities across the northern coast to production
facilities both inland and offshore. Ultimately, the transportation network
should cover 6,300 kilometers and extend to Colombia and Brazil. The network
will cost an estimated $1.6 billion.
To turn around what has heretofore been an unprofitable business, authorities
are planning on economies of scale and dividing the country in four regions
that will each include both industrial and residential consumers.
Pricing of natural gas will rise according to the type of consumer, with the
lowest tariffs assessed for residential and commercial clients, and scale
upwards for petrochemical producers, the steel, electricity and manufacturing
industries and others.
Jorge Depresbiteris, director general of Margarita electricity utility
Seneca, controlled by U.S. CMS Generation Co., said the substitution of
diesel by natural gas could be viable for the company's bottom line if it is
sold at $1.50/billion British thermal units or less. Beyond that, the
utility's profitability will be affected.
Seneca, he added, is planning ahead for the conversion to natural gas because
it is clear the "gasification" policy is being implemented, "and there's no
turning back."
Regulatory authorities assured that natural gas will be "adequately valued"
even as greater volumes come on stream, and will include adjustments for
devaluation in the country's currency and, if necessary, for inflation.
Natural gas processing is yet another area in which newcomers are being
invited to participate.
Overall, energy ministry officials figure that natural gas can currently
substitute 9 million barrels a day, or 100%, of fuel oil, and 72 million b/d,
or 56%, of the diesel that is consumed in the country, among other
carbon-based derivatives.
Officials reckon that all the investment should create up to 10,000 direct
jobs and 52,000 indirect jobs in auxiliary industries.
-By Charles Roth, Dow Jones Newswires; 58-14-235-8525;
charles.roth@dowjones.com

Prospects dim for Enron's India power project.

04/27/2001
Energy Compass
(c) 2001 Energy Intelligence Group. All rights reserved

The future of Enron's Indian Dabhol power project hangs in the balance, after
the board of Dabhol Power Co. (DPC) authorized the termination of a deal to
supply 740 MW to Maharashtra State Electricity Board, its main customer (EC
Apr.13,p12). MSEB claims it can use only 300 MW, and has asked DPC, which is
65% owned by Enron, to scrap the plant's planned second phase as it won't be
able to pay for the electricity.
But global lenders have persuaded Enron not to pull the plug on the $3
billion power-plus-LNG project just yet. These include ANZ Investment Bank,
Credit Suisse First Boston, ABN-Amro, Citibank, and State Bank of India. With
nearly 85% of the project complete and the Indian government offering to
renegotiate the power purchase agreement, lenders want to see the plant's
second phase and LNG project completed later this year.

Report Out on Indian Power Project
By RAMOLA TALWAR BADAM
Associated Press Writer

04/27/2001
AP Online
Copyright 2001 The Associated Press. All Rights Reserved.
BOMBAY, India (AP) - A top official of the U.S. energy concern Enron Corp.
was authorized to issue a termination notice to pull out of a $3 billion
power project in western India, the largest foreign investment in the
country, a newspaper reported Friday.
The project has been in trouble since December when the government of
Maharashtra state demanded renegotiation of the price being charged for power
from the project.
The board of the Dabhol Power Co., the Indian subsidiary of Enron, met in
London on Wednesday and authorized the company's managing director to issue a
preliminary notice to terminate the project, billed as the world's largest
natural gas fired power plant, The Times of India reported.
"The board has given powers to the management to issue the pre-termination
notice. But the meeting unanimously felt the need of the hour was not to
terminate the project but to initiate a re-negotiation process," Vinay
Bansal, chairman of the Maharashtra State Electricity Board, was quoted as
saying by the newspaper.
Enron officials have refused comment. Enron is based in Houston.
In Bombay, Krishna Rao, a state electricity board official, said Friday that
negotiations with Dabhol Power would be the next step.
"The government and DPC have to come together. The government has already
said a negotiation team is being appointed," Rao said.
The notice is the first of three steps that could end in the abandonment of
the project. A six-month reconciliation period would follow any move by
Dabhol Power to issue the termination notice, Bansal said.
Indian lenders, present at a meeting with foreign financial institutions in
London earlier this week, have said they favor renegotiation.
The state power utility has said it cannot pay Dabhol's monthly electricity
bills, since rates for power have nearly quadrupled.
That prompted Dabhol to invoke a federal guarantee in February, the first
time in India that such a federal guarantee was invoked. As part of the 1995
agreement between the company and the state government, the federal
government must pay in case of a state default.
But before the federal government stepped in, the state government paid $17
million in outstanding bills. Since then, the state power utility has
confirmed that all pending bills have been paid.
However, a dispute over payment of $48 million for December and January bills
is pending.
Several political parties had earlier demanded the project be scrapped, since
the costs had increased from 1.8 rupees (four cents) per unit agreed six
years ago for electricity generated by the 740-megawatt naphtha plant, to 7
rupees (15 cents).
Enron has maintained that work will be completed by the end of the year on a
1,444- megawatt liquefied natural gas plant.
Enron has a 65 percent stake in Dabhol Power, and is the project's largest
shareholder. Other shareholders include the Maharashtra State Electricity
Board with 15 percent and General Electric Co. and Bechtel Enterprises with
10 percent each.

Enron, India in dispute over future of gas-fired power plant
By RAMOLA TALWAR BADAM
Associated Press Writer

04/27/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

DABHOL, India (AP) - Workers in yellow helmets scramble up steel girders to
fit pipes into place for the world's largest natural gas-fired power plant,
to be completed off India's western coast this year by American energy giant
Enron Corp.
But 200 miles away in Bombay, government officials say they cannot afford the
electricity that Enron is now providing from a naphtha plant at the site, and
they expect the electricity generated by liquefied natural gas will cost even
more.
"Enron is simply unaffordable," said Padamsinh Patil, energy minister for the
state of Maharashtra, which includes Bombay. "The state cannot afford the
power, so we take less power, but still have to pay Enron huge amounts."
India needs power - during the April-to-October 2000 hot season, the nation
had a daily shortfall of nearly 8,000 megawatts of electricity, according to
the Center for Monitoring the Indian Economy.
Enron's naphtha and gas plants at Dabhol will together be able to generate
about 2,200 megawatts, but politicians have trouble with the price. Aging
coal- and gas-fired plants that have been depreciated can charge about two
rupees (4 cents) per kilowatt hour, while Enron's naphtha plant has been
charging 11 to 15 cents.
"Everyone wants to use us to blame for the systemic problem that the state
electricity boards in this country sell power for less than it costs them to
generate or buy power," said K. Wade Cline, president of Enron India.
Despite the protests, Cline believes that the $3 billion project - India's
biggest-ever foreign investment - will go on line at the end of 2001.
But the company's frustrations are obvious. This week the board of the Dabhol
Power Co., Enron's India subsidiary, authorized the company's managing
director to issue a preliminary notice that could lead to termination of the
power project.
Enron says it is owed $48 million for power delivered in December and
January. The February power bill has already been paid, and Krishna Rao,
member of the Maharashtra State Electricity Board, said Wednesday the March
electricity bill was being paid.
Rao said renegotiation of the existing contract was the next step.
"The government and DPC have to come together," he said. "The termination
notice will have to wait till negotiations actually begin."
Indian lenders insist it is impossible for Enron to pull out before it makes
up the huge amounts already spent. They speculate that the company's board is
using pressure tactics to ensure timely payments in future.
An advantage for Enron - and the major complaint against it - is a unique
contract that requires the federal government to pay up in case of default by
Maharashtra. Another grievance is that the Enron deal requires Maharashtra to
pay for electricity even if it doesn't use it.
Enron invoked the federal guarantee in February, when the state utility said
it could not afford to pay Dabhol Power. But before the national government
stepped in, state officials paid $17 million in overdue bills.
The state bailout drew attention to the Enron deal, with opponents again
raising questions about the cost to be borne for foreign investment and
development. The debate comes as the government in New Delhi tries to reduce
subsidies and sell off state-owned enterprises.
Enron says federal payment guarantees were essential because few foreign
companies were willing to invest when India began opening its economy in the
early 1990s.
"Who wanted to come to India at that time? Very few companies did," said
Cline. "We came along, with some others, and said we're willing to invest
because we think India has a bright future."
Preparing for that future, workers at Dabhol clamber around inside an LNG
tank that could fit three jets stacked one atop another. They weld a
steel-reinforced dome, while others outside drill concrete blocks for the
mile-long jetty where the LNG tanker Laxmi - meaning "wealth" in Hindi - is
scheduled to dock in November.
Enron says LNG is the cleanest and most economical fuel, but Bombay
politicians have their doubts. They point at electricity prices that have
increased fourfold, which Enron attributes to the rise to the jump in oil
prices and a depreciation of the Indian rupee.
Opponents of the project say the government should have invested in its own
power plant instead of tying up with a foreign company.
"We're not against foreign companies, but the Enron project is a sure pill
for India's financial collapse," said Pradyumna Kaul, an anti-Enron activist.
"It will bankrupt the nation. Both sides should agree to a separation and
abort the contract now."
Enron believes a crackdown on power theft and reduction of waste in
transmission and distribution would generate enough money to pay for Dabhol's
electricity.
A state government-appointed committee agreed and this month called for
reform of the state power utility that defaulted on its payments to Enron.
But the five-member panel also insisted on lower tariffs and urged
renegotiating the price agreement.
Enron chief executive Jeffrey Skilling likened the India situation to the
power woes being felt in California.
"The utility offers a fixed rate to their customers and the wholesale costs
of electricity have gone up like they have in the U.S.," he said from Enron
headquarters in Houston. "The distribution company is having a liquidity
squeeze identical to what you have with (Pacific Gas & Electric)."
Meanwhile at Dabhol, managers are moving to the next phase, training workers
to man tug boats to guide that first LNG tanker into port.

Enron Offl Given Authority To End India Pwr Proj -Report

04/27/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

BOMBAY (AP)--A top official of U.S. energy giant Enron Corp. (ENE) was
authorized to issue a termination notice to pull out of a controversial power
project in western India, the largest foreign investment in the country, a
newspaper reported Friday.
The board of the Dabhol Power Company, the Indian subsidiary of Enron, met in
London on Wednesday and authorized the company's managing director to issue a
preliminary notice to terminate the project, billed as the world's largest
natural gas fired power plant, The Times of India reported.
"The board has given powers to the management to issue the pre-termination
notice. But the meeting unanimously felt the need of the hour was not to
terminate the project but to initiate a re-negotiation process," Vinay
Bansal, chairman of the Maharashtra State Electricity Board, was quoted as
saying by the newspaper.
In Bombay, Krishna Rao, a state electricity board officials, said Friday that
negotiations with the DPC would be the next step.
"The government and DPC have to come together. The government has already
said a negotiation team is being appointed," Rao said.
"The termination notice will have to wait until negotiations actually begin,"
he said.
Enron officials have refused comment.
The notice is the first of three steps that could end in the abandonment of
the $3 billion project. A six-month reconciliation period would follow any
move by the Dabhol Power Company to issue the termination notice, Bansal
said.
Indian lenders, present at a meeting with foreign financial institutions in
London earlier this week, have said they favor renegotiation.
The project has been in trouble since December when the government of
Maharashtra state, where the Dabhol project is located, said the tariffs were
exorbitant and demanded a new price agreement.
The state power utility said it could not pay Dabhol's monthly electricity
dues, which prompted the company to invoke a federal guarantee in February.
This was the first time in India that a federal guarantee was invoked. As
part of the 1995 agreement between the company and the state government, the
federal government has to pay in case of a state default.
But before the federal government stepped in, the state government paid $17
million in outstanding bills. Since then, the state power utility has
confirmed that all pending bills have been paid.
However, a dispute over payment of $48 million for December and January bills
is pending.
Several political parties had earlier demanded the project be scrapped, since
the costs had increased from 1.8 rupees (four cents) per unit agreed six
years ago for electricity generated by the 740-megawatt naphtha plant, to 7
rupees (15 cents).
Enron has maintained that work will be completed by year-end on the 1,444
megawatt liquified natural gas plant.
Houston, Texas-based Enron has a 65% stake in Dabhol Power, and is the
project's largest shareholder. Other shareholders include the Maharashtra
State Electricity Board with 15% and General Electric Co. and Bechtel
Enterprises with 10% each.

GERMANY: German trade sees strong aluminium, copper demand.
By Denes Albert

04/27/2001
Reuters English News Service
(C) Reuters Limited 2001.

ONLINE TRADING MODEST
VDM also said that despite a mushrooming of metal trading Internet sites,
online trading of physical metals remained at minimal levels.
"We have to make a very clear distinction between futures and physical
metals," said VDM board member Matthias Heil of Enron Metall Recycling GmbH,
a unit of the U.S.'s Enron Corp .
"While online metals futures trading runs between 400 million and 600 million
marks a day worldwide, only a tiny fraction of physical trading, and
especially scrap metal trading is done that way."
Heil added that their core activity - scrap metal - did not lend itself well
to online trading because of the multitude of qualities being traded.
Hoffmann also said that while Norddeutsche Affinerie - Europe's largest
copper refiner - had its own trading site, it was for the time being mostly a
facility through which NA's clients could keep track of their contracts.
"We have our trading site, but it mostly serves as a way for our clients to
have access to the state of existing contracts virtually at the same time as
those are updated on our internal computer network," he said.

Enron India MD authorised to terminate PPA
Our Corporate Bureau MUMBAI

04/27/2001
Business Standard
1
Copyright (c) Business Standard
The board of the Enron-promoted Dabhol Power Company (DPC), at its meeting in
London on Wednesday, authorised the managing director of Enron India to issue
a notice for terminating the power purchase agreement to the Maharashtra
State Electricity Board and the state government.
"The board has authorised Wade Cline to serve the termination notice.
However, this does not mean that the termination notice will be served
immediately. It is only an enabling provision and will be used only if the
situation arises," a state government source told Business Standard from
London. He said DPC was under pressure from its lenders.
The DPC spokesperson here refused to comment on the issue.
The hardening of the board's stand is in sharp contrast to the advice of
DPC's lenders, who had warned Enron not to precipitate matters by issuing a
termination notice. The lenders had arrived at a consensus that the
termination notice need not be served at this stage. Serving of the notice
requires a nod from the lenders, who have an exposure of about $2 billion in
the project. Sources said given the lenders' strong opposition to termination
of the contract, the Enron board's "enabling resolution" did not have much
significance beyond conveying a hardening of its stand with regard to the
current imbroglio.
The Maharashtra Chief Minister had warned Enron not to scuttle the process of
crisis resolution by issuing a termination notice. The state government is to
nominate an expert group to renegotiate the terms of the Dabhol contract.
Enron holds 65 per cent in DPC, while US-based GE and Bechtel hold 10 per
cent each. The balance 15 per cent is held by MSEB through a special purpose
vehicle, Maharashtra Power Development Corporation.
The MSEB representatives were not allowed to vote at the meeting since they
were an interested party. The IDBI representative protested against the
board's decision.
The meeting was held against the backdrop of a dispute between MSEB and DPC
over payment of bills. After MSEB failed to pay Rs 102 crore towards the
December 2000 bill, DPC invoked the state government's guarantee and then the
Union government's counter guarantee. When payment of the Rs 127-crore
January bill became overdue, DPC again invoked the state government's
guarantee. MSEB retaliated on January 28, 2001 by slapping a Rs 401-crore
penalty for non-supply of electricity at adequate levels. It demanded that
DPC adjust the bills against this penalty.
"This stand of MSEB was explained to DPC at the board meeting", a state
government official said.

Gas hub blues

04/27/2001
Energy Compass
(c) 2001 Energy Intelligence Group. All rights reserved

"This is not a country of marchers," Bolivia's information minister bravely
insisted last week, in the midst of an economic and political crisis in the
country that aspires to be South America's natural gas hub.
The statement was made the day that small business borrowers marched through
tear gas to have their debts forgiven, and a few days before farmers teamed
up with the economically dispossessed to brave truncheons and more tear gas
to march to La Paz to ask the government to fulfill its pledges on water and
land. Taxi drivers went on strike on Apr. 24, while all the groups, including
the labor union federation, talk of blocking main roads on May 1.
What is more, a privatizing ex-president, Gonzalo Sanchez de Lozada, has
launched an effort to force out the incumbent, Hugo Banzer, for economic
mismanagement. Banzer, a one-time military dictator, was elected
democratically, but is having a tough time dealing with his constituents.
While Sanchez de Lozada's effort has dismayed many people who otherwise
oppose Banzer, including the US and other Latin American presidents, the
throw-him-out theme underlines the problem: The urban poor are getting poorer
as joblessness grows, while the rural poor say the government has gone back
on agreements made last October - again after marches and blockades - for
changes to a water privatization law and land registration rules. No one has
forgotten the unrest of January 2000 that toppled Ecuador's elected president
Jamil Mahuad, leading to his replacement by vice president Gustavo Noboa (EC
Jan.28'00,p6). Private business, in the form of the Bolivian chamber of
commerce, wants the government to go to the bargaining table with the
marchers to resolve what appears to be an escalating conflict in which two
people have already reportedly died in clashes with police.
Even if the abyss is avoided, the unrest threatens Bolivia's extensive
natural gas industry just as disruption to the rest of the economy heightens
its dependence on gas export earnings. No one has suggested that the
country's extensive gas pipeline network is at risk - as oil pipelines are in
Colombia and, occasionally, in Ecuador - from rebel attacks. While Cuban
guerrilla hero Che Guevara was caught and killed in Bolivia in 1967 while
leading a group of rebels, armed insurgency has since subsided.
Landlocked Bolivia made a big stride in meeting its gas hub goals in 1999
with the opening of the Bolivia-to-Brazil pipeline, with the capacity to send
1 billion cubic feet per day into Latin America's biggest gas market. It
competes with Argentina for the Brazilian, Peruvian, and Chilean markets,
even as it eyes ways of entering the Argentine market itself. "Argentina sees
Bolivia as both a competitor and a potential partner," says an analyst who
spends a lot of time in Argentina. "It is hard to know how much spillover
there will be from high unemployment, inflation, and general instability into
the Bolivian gas industry."
Several foreign companies have bet on Bolivia's gas play, notably the UK's
BG, which has just been awarded access to the Bolivia-Brazil pipeline to
enable it to move gas from its Bolivian fields to its 60%-owned Comgas
distribution network in Sao Paulo. BG is also the proposed builder of a
propane pipeline to the Chilean coast announced this week (see related
article).
Others investing, in the line and in another, pipeline-to-power, project
include Enron and Royal Dutch/Shell. Brazil's state Petrobras is a partner in
the Brazil-Bolivia line, and is trying to stop other companies using the
Brazilian leg (EC Apr.20,p12). Brazilian regulators, eager to open up the gas
market, decided that BG should have access, at least through 2003. Petrobras
has threatened to sue.
Some gas pipeline projects in the region have already been delayed or killed
because Brazilian demand hasn't grown as quickly as planners expected, or
because of demand and financing problems in other countries. It certainly
won't help investor confidence if Bolivia's economic and political woes
linger.
By Peter Gall, New York.

Might is right

04/27/2001
Energy Compass
(c) 2001 Energy Intelligence Group. All rights reserved
As the New York Mercantile Exchange (Nymex) and the Big Oil-backed
IntercontinentalExchange (ICE) look set to go head-to-head in the online
energy trading business, dozens of smaller internet exchanges are likely to
collapse under the pressure.
Seeing the way the market was headed - where web-based transactions replace
old-style ways of making deals - London's International Petroleum Exchange
(IPE) started searching earlier this year for a partner that could give it an
internet trading capability. ICE emerged as the frontrunner, offering around
$65 million to take over the IPE (EC Apr.13,p2).
Sources say the combination has won the support of a majority of IPE
shareholders. But after a meeting on Apr. 26, the IPE board said it needed
more time to discuss the bid, and would have to meet again. The betting is
that the board will recommend the takeover to shareholders for a vote in May
or June. The ICE founders are well-known to the IPE: Eight are shareholders
in the IPE, and four - BP, Total Fina Elf, Goldman Sachs, and Morgan Stanley
- hold seats on the board.
An ICE-IPE link, along with the roll out of eNymex, which could be unveiled
early next month, is putting the heat on smaller start-ups - most of which
were founded with the support of established energy companies. "Instead of an
expansion in the number of sites, the intense push for liquidity will squeeze
many players out of the trading game," concludes a new report by US
technology consulting firm Forrester Research.
In the US, wholesale online energy trading is expected to be huge. By 2005,
oil, natural gas, and electricity trading will be a $3.6 trillion business,
up from just $400 billion today. And over-the-counter (OTC) swaps and
derivatives trading will dominate, Forrester says: Of the estimated $3.6
trillion in trades in 2005, OTC trading is forecast to total $2.7 trillion.
The report suggests that online OTC oil trading in the US will hit $767.6
billion in 2005, up from an estimated $26.8 billion this year. Oil trade
would account for 21% of the market, trailing only OTC gas deals in market
share.
Forrester predicts that the winners in this bigger online world will be ICE,
eNymex, Enron's EnronOnline trading system, and TradeSpark, a North American
gas and power exchange backed by US energy companies Williams, TXU, and
others.
Losers in the online trading race will be US-based independent sites such as
Altra, whose investors include BP, Koch, and Conoco, and HoustonStreet
Exchange. "These early online trailblazers will be forced to sell their
exchanges," Forrester suggests.
HoustonStreet Exchange, along with other startups that have led attempts to
take physical oil online - including RedMeteor, Pepex, and Oilspace - could
also be hurt by ICE's recent decision to expand into physical oil markets
after establishing a strong presence in financial markets.
HoustonStreet launched its internet oil trading exchange with great fanfare a
year ago, but has since failed to attract a wide audience. It has been
heavily dependent on backing from minority equity partner Equiva, a joint
venture of Royal Dutch/Shell, Texaco, and Saudi Aramco, which paid $6 million
for its stake, and agreed to use the exchange's oil trading platform. In the
event, Equiva accounted for 56% of all crude and refined oil trade on
HoustonStreet last year, according to a regulatory filing by exchange founder
BayCorp, which owns 46%. As of early February, about $2 billion had been
transacted on the oil platform. While the Equiva deal boosted trading
volumes, the exchange needs broader support to survive, says BayCorp, which
lost nearly $9 million last year.
Other HoustonStreet initiatives have been put on hold, following the
company's decision earlier this year to try to achieve near-term
profitability. Instead, it will focus on a gas trading partnership with US
energy giant Enron, and developing an online gas exchange. According to an
agreement signed last year, the two plan to create links between their online
exchanges, with Enron cementing the partnership by taking an equity holding.
Other HoustonStreet backers include Conoco, US Williams, and European firms
Vivendi, RWE, Vattenfall, and Electrabel.
RedMeteor, a Texas-based start-up that trades physical and some financial oil
in the US, says it handled 185 million barrels in January, with a notional
value of $5.3 billion. However, only one-quarter of the current volumes are
traded electronically; the rest are traditional transactions by voice
brokers.
Last year, RedMeteor bought brokerage house TCT in a bid to drive traffic
through its internet exchange. A strategic alliance between RedMeteor and
trading house Vitol has also failed to provide the expected liquidity boost.
Vitol is not an active user of the US platform, sources say. It is most
active in the New York cargo market, where RedMeteor has yet to establish
itself. RedMeteor also has a deal with Neftebid, a Russian trading
consortium. It has licensed its trading software to the group, with an online
exchange to be launched this quarter.
Two other start-ups, Pepex and Oilspace, have their eyes set on the cargo
market. As of mid-March, Pepex had handled tenders for 12 million bbl -
roughly two-thirds products and the rest crude - since its launch last June.
Not all volumes were necessarily awarded. Oilspace is tweaking its
technology, and several oil companies are currently testing the online
service.
Another start-up, BrentBroker.com, closed its doors before trading a barrel.
The firm, backed by Hess Energy Trading, launched with a splash last summer,
but failed to go live. Canada-based exchange DigitalOutcry, which was backed
by oil trading company Canpet Energy, also failed to get off the ground.
Altra, a US exchange formed five years ago, has established a solid foothold
in gas, power, and natural gas liquids (NGL) trade, but has made few inroads
in crude oil. Last year, the online exchange handled 250 million bbl of NGLs,
while crude oil volumes were about 17 million bbl.
By Jeff Gosmano, Houston.

Venezuela Moving On Plans To Build Up Natural Gas Indus
2001-04-27 15:00 (New York)

   By Charles Roth
   Of DOW JONES NEWSWIRES

  Porlamar, MARGARITA (Dow Jones)--Venezuela is forging ahead with plans to
develop its natural gas industry through a series of concessions involving
both foreign and local companies. Industry officials reckon the effort should
generate up to $13 billion in investment over the next 10 years.
  The biggest push now underway in the "Gasification of the Nation" program
is the awarding of 11 licenses for the exploration and production of non-oil
associated gas in central-western Venezuela, a zone estimated to contain 6
trillion to 20 trillion cubic feet in reserves. Of 34 companies that have
qualified for the concessions, 26 are foreign.
  The government is also moving to open up offshore exploration and
production of free gas in the Paria and Plataforma Deltana regions in waters
bordering northeast Venezuela, where officials suspect 40 Tcf to 60 Tcf are
waiting to be discovered.
  Jose Pacheco, vice minister of energy, told Dow Jones Newswires that the
government wants to start the pre-qualification process sometime this year.
  Trinidad, he said, has been aggressively tapping reserves in the area, some
of which may extend into Venezuela territory. The government has been talking
with authorities from the island to reach some understanding for the
exploitation of the region, he said.
  Rafael Ramirez, president of Venezuela's gas regulator, said state-oil
company Petroleos de Venezuela SA (E.PVZ) has allocated $200 million for
exploration in the area. He noted that industry giants such as Royal
Dutch/Shell (RD), BG Group Plc's British Gas (BRG), Exxon Mobil Corp. (XOM),
Phillips Petroleum Co. (P), El Paso Corp. (EPG) and Enron Corp. (ENE) have
already expressed interest in the area.
  Pacheco, Ramirez and other industry officials are attending a conference on
gas and electricity.

   Fiscal Incentives To Attract Companies

  Venezuela, the world's third largest oil producer, has proven gas reserves
of 147 Tcf, the eighth largest worldwide. About 10% these reserves are
non-associated. It produces about six billion cubic feet a day, of which 70%
goes to various segments of the country's petroleum industry and 30% is
divided between electricity generation, petrochemicals production, the steel
and aluminum industries, the cement and manufacturing sectors and residential
consumption.
  Industry officials want to raise natural gas production to 9 Bcf/d to 10
cf/d by 2010.
  To meet that goal, Venezuela is enticing companies by exempting them from
the value-added tax, reducing the income tax for them to 34% from 64%, and
lowering it a further 8% in they make new investments. Royalties will be
assessed at 20%.
  Companies interested in participating in the expansion of the natural gas
pipeline network are excluded from royalties, Ramirez said. He noted that
official pricing calculations indicate the rate of internal return on
transmission and distribution of gas hovers around 15%, but could be higher
for more efficient companies.
  The latest transmission project underway would connect mainland Venezuela
and Margarita Island. The approximately 170-kilometer pipeline will cost $90
million. Bidding is slated to start in the weeks ahead and the project should
be completed by the end of 2003.
  Following Margarita, a natural gas pipeline connecting Valencia and
Paraguana is planned. The network should then expand to the offshore
platforms and ultimately link the populated cities across the northern coast
to production facilities both inland and offshore. Ultimately, the
transportation network should cover 6,300 kilometers and extend to Colombia
and Brazil. The network will cost an estimated $1.6 billion.
  To turn around what has heretofore been an unprofitable business,
authorities are planning on economies of scale and dividing the country in
four regions that will each include both industrial and residential consumers.
  Pricing of natural gas will rise according to the type of consumer, with
the lowest tariffs assessed for residential and commercial clients, and scale
upwards for petrochemical producers, the steel, electricity and manufacturing
industries and others.
  Jorge Depresbiteris, director general of Margarita electricity utility
Seneca, controlled by U.S. CMS Generation Co., said the substitution of
diesel by natural gas could be viable for the company's bottom line if it is
sold at $1.50/billion British thermal units or less. Beyond that, the
utility's profitability will be affected.
  Seneca, he added, is planning ahead for the conversion to natural gas
because it is clear the "gasification" policy is being implemented, "and
there's no turning back."
  Regulatory authorities assured that natural gas will be "adequately valued"
even as greater volumes come on stream, and will include adjustments for
devaluation in the country's currency and, if necessary, for inflation.
  Natural gas processing is yet another area in which newcomers are being
invited to participate.
  Overall, energy ministry officials figure that natural gas can currently
substitute 9 million barrels a day, or 100%, of fuel oil, and 72 million b/d,
or 56%, of the diesel that is consumed in the country, among other
carbon-based derivatives.
  Officials reckon that all the investment should create up to 10,000 direct
jobs and 52,000 indirect jobs in auxiliary industries.
  -By Charles Roth, Dow Jones Newswires; 58-14-235-8525;
charles.roth@dowjones.com

  (END) DOW JONES NEWS  04-27-01
  03:00 PM- - 03 00 PM EDT 04-27-01

Enron Offl Given Authority To End India Pwr Proj -Report
2001-04-27 10:19 (New York)

  BOMBAY (AP)--A top official of U.S. energy giant Enron Corp. (ENE) was
authorized to issue a termination notice to pull out of a controversial power
project in western India, the largest foreign investment in the country, a
newspaper reported Friday.
  The board of the Dabhol Power Company, the Indian subsidiary of Enron, met
in London on Wednesday and authorized the company's managing director to
issue a preliminary notice to terminate the project, billed as the world's
largest natural gas fired power plant, The Times of India reported.
  "The board has given powers to the management to issue the pre-termination
notice. But the meeting unanimously felt the need of the hour was not to
terminate the project but to initiate a re-negotiation process," Vinay
Bansal, chairman of the Maharashtra State Electricity Board, was quoted as
saying by the newspaper.
  In Bombay, Krishna Rao, a state electricity board officials, said Friday
that negotiations with the DPC would be the next step.
  "The government and DPC have to come together. The government has already
said a negotiation team is being appointed," Rao said.
  "The termination notice will have to wait until negotiations actually
begin," he said.
  Enron officials have refused comment.
  The notice is the first of three steps that could end in the abandonment of
the $3 billion project. A six-month reconciliation period would follow any
move by the Dabhol Power Company to issue the termination notice, Bansal said.
  Indian lenders, present at a meeting with foreign financial institutions in
London earlier this week, have said they favor renegotiation. The project has
been in trouble since December when the government of Maharashtra state,
where the Dabhol project is located, said the tariffs were exorbitant and
demanded a new price agreement.
  The state power utility said it could not pay Dabhol's monthly electricity
dues, which prompted the company to invoke a federal guarantee in February.
  This was the first time in India that a federal guarantee was invoked. As
part of the 1995 agreement between the company and the state government, the
federal government has to pay in case of a state default.
  But before the federal government stepped in, the state government paid $17
million in outstanding bills. Since then, the state power utility has
confirmed that all pending bills have been paid.
  However, a dispute over payment of $48 million for December and January
bills is pending.
  Several political parties had earlier demanded the project be scrapped,
since the costs had increased from 1.8 rupees (four cents) per unit agreed
six years ago for electricity generated by the 740-megawatt naphtha plant, to
7 rupees (15 cents).
  Enron has maintained that work will be completed by year-end on the 1,444
megawatt liquified natural gas plant.
  Houston, Texas-based Enron has a 65% stake in Dabhol Power, and is the
project's largest shareholder. Other shareholders include the Maharashtra
State Electricity Board with 15% and General Electric Co. and Bechtel
Enterprises with 10% each.

  (END) DOW JONES NEWS  04-27-01
  10:19 AM- - 10 19 AM EDT 04-27-01

O'BRIEN AND BAUMAN'S HOT STOCKS: YHOO ENE SFA YUM
2001-04-27 12:30 (New York)

  As they do every Friday, Dow Jones Newswires reporters Bob O'Brien and
Larry Bauman are scheduled to hand out their stock plays of the week, shortly
on CNBC-TV:

Company              Company News

Yahoo                'Let The Sun Shine In'
 (YHOO)              award.

   -  -
Enron                'I'd Like To Thank The
 (ENE)               Academy' award.

   -  -
Scientific-Atlanta   'If C-Span Merged With
 (SFA)               Home Shopping ...' award.

   -  -
Tricon Global        'A Fat Guy In A Speedo'
 (YUM)               award.

  (END) DOW JONES NEWS  04-27-01
  12:30 PM- - 12 30 PM EDT 04-27-01


Per our discussion...


----- Forwarded by Tana Jones/HOU/ECT on 07/19/2000 08:26 AM -----

	Tom Moran
	07/17/2000 05:22 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David
Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT,
Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON, Mary G
Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities, Enron
Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT, Bradley
Diebner/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT
		 cc:
		 Subject: EOL Credit Responses 07/17/00

Please find attached Credit's EOL responses for 7/17/00.

Regards,
tm


I suppose a location would help! Location TBD, I'll make sure you get a
call.  Kay

	Enron North America Corp.

	From:  Lisa Bills                           09/18/2000 01:12 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: Tomorrow's GE phone call/ TODAY's meeting to prepare?

I will be there if you tell me where!  Thanks for the invite.

	Enron North America Corp.

	From:  Kay Mann                           09/18/2000 12:56 PM

To: Lisa Bills/Corp/Enron@ENRON
cc: Roseann Engeldorf/Corp/Enron@ENRON

Subject: Tomorrow's GE phone call/ TODAY's meeting to prepare?

Lisa,

I inadvertently left you off the list.  Hope you can come.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/18/2000 12:55
PM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           09/18/2000 11:39 AM

To: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Martin W
Penkwitz/NA/Enron@Enron, Roseann Engeldorf/Corp/Enron@ENRON
cc: Sheila Tweed/HOU/ECT@ECT

Subject: Tomorrow's GE phone call/ TODAY's meeting to prepare?

How about meeting in advance of tomorrow's 130 phone call to discuss the
approach we want to take with GE?

I'm suggesting 400 this afternoon.  Please let me know how this works for you.

Thanks,

Kay


Windows 2000 Users
Since Outlook doesn't have an All Documents folder as Lotus Notes did, how do you find a message that you've "misplaced"?  Use the Advanced Find feature!
Just right click on your top folder (Mailbox-) in the Folder List view and select Advanced Find.  Fill in what words you want to search for and what fields to seach in (subject, message body, etc) and click Find Now.  This searches through ALL the folders in your mailbox.... Enjoy!

To see all the training tips developed so far, just click on the following link and then select Open...
\\gtoma-dv01\common\win2000_training\index.htm

If you have additional questions, please contact the Help Desk.  Thanks!

:______
  Tyler A Theobald
      ETS Omaha IT
      402-398-7247
Help Desk: 402-398-7454
__________________________________________________________________________

<Embedded Picture (Device Independent Bitmap)>
<Embedded Picture (Metafile)>
<Embedded Picture (Metafile)>


---------------------- Forwarded by Kay Mann/Corp/Enron on 01/04/2001 04:00
PM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 01/04/2001 12:42:34 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>

Subject: Closing Checklist

 <<2RR403!.DOC>>

Kay:

An updated closing checklist is enclosed.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

Enclosure: 129280v3

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 2RR403!.DOC


Start Date: 10/13/01; HourAhead hour: 11;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001101311.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/13/01
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: EPMI_CISO_YELLOW
  ENGY_TYPE: WHEEL
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/13/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_YELLOW
  ENGY_TYPE: WHEEL


---------------------- Forwarded by Jennifer N Stewart/NA/Enron on 12/04/2000
11:09 AM ---------------------------

Don Hawkins
12/04/2000 10:51 AM
To: Jennifer N Stewart/NA/Enron@Enron
cc: George Wasaff/NA/Enron@Enron

Subject: Vengas venue / Venezuela

Jennifer, thanks for making Colleen available to Jim,  She did an excellent
job.

Don
---------------------- Forwarded by Don Hawkins/OTS/Enron on 12/04/2000 10:51
AM ---------------------------

	From:  Jim Rountree                           12/04/2000 07:50 AM

To: Don Hawkins/OTS/Enron@Enron, Jennifer N Stewart/NA/Enron@Enron
cc:

Subject: Vengas venue / Venezuela

I want to pass on my sincere appreciation for the excellent work and
assistance from Colleen Koenig during last weeks crisis management program in
Venezuela.  Colleen was more than helpful and provided services that I found
invaluable.  She was extremely well liked by the senior management of Vengas
and spent a great deal of time with them in creating an environment conducive
to teamwork and productivity.  Her language skills, knowledge and personality
provided an incredible resource.  Thanks for allowing my program her services
and I look forward to working with her again in the future.

Jim Rountree


Jeff,

Let me know what you think of this guy.  Wade Cline and Tim Det. are both
high on him.  Jeff Donahue is not so sure but will meet with him on Friday.
During my lunch with Jeff, we discussed that we need a Corp. Dev guy
dedicated to us full time but if he reported to him, that would be great.  I
think we could use that co-ordination with his group as long as we didn't get
a part time guy in the process.  He could also report to us obviously (like
Larry) but i think in this case a dual role makes a  lot of sense.  What do
you think?

If you like Don, he could be an immediate candidate to start doing our Corp
Dev work, but that is of course not the best reason.  I thought he was all
right and he did have a good understanding of our products and is an
innovative thinker.  He has also worked as a trader and although it doesn't
seem possible by his personality, having some background is a plus.

Mike


Attached is the June ATE Report for ENA. If you no longer wish to be on this
distribution list, please let me know and we will remove you from it. Thanks


Here's a draft.  More names are being added, so feel free to suggest more
that we forgot/overlooked, including those external to Enron.

Please send the info directly to Suzanne Adams.

Lisa, Mitch and Chris, you will be on the next draft.  Sorry for the
oversight this time around.

Thank you,

Kay


Start Date: 12/29/01; HourAhead hour: 10;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122910.txt
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.


The Indianapolis/Kansas City game is going to be played Thursday instead of
Sunday so I'm sending a revised Pick Sheet for Week #8.  Please try to get
your picks in as early as possible, but if you get your pick in for the
Thursday game before it starts we'll count it and wait for the rest of the
picks until Sunday.  Sorry we didn't catch the change earlier.

The Commish


Charles Schwab & Co., Inc.
Email Alert

Internet Daily
for Thursday, November 1, 2001
by Frank Barnako CBS MarketWatch.com

Ecommerce crawls back from Sept. 11

Renewed interest in travel is helping online shopping activity
reach a pace not seen since the terrorist attacks of September.

Hotwire.com, a discount travel service, said it has registered 1
million new users since the tragedy. Daily sales and
transactions are equal to those of the weeks prior to Sept. 11,
said Hotwire president Karl Peterson.

ComScore Networks reported similar results in its weekly survey
of Internet users' transaction data. Travel category product
sales were 6% below pre-attack levels, the Reston, Va., research
firm said. During the week ending Oct. 28, total domestic
ecommerce sales were $974 million, 2% below the average for five
weeks prior to Sept. 11. Don Hess, ComScore vice president,
said, "We suspect the needle is starting to move in holiday
shopping, perhaps earlier than the industry might expect."

-----------------------------------------------------------------
Internet World rescheduled to December

The ninth annual Internet World conference will be held Dec.
10-14 at the Jacob Javits Convention Center in New York City.
The show was originally planned for Oct. 1-5. Organizer Penton
Media  said the majority of exhibitors and speakers set for
October have reconfirmed for the December event. Internet World
will be held simultaneously with another show, Streaming Media
East 2001. Keynote speakers at the shows will include AOL Time
Warner  co-COO Bob Pittman, Real Networks  founder Rob Glaser,
and Playboy Enterprises  chairman and CEO Christie Hefner.

-----------------------------------------------------------------
High-speed Net accessible to 75%

Broadband Internet access will be available to three-quarters of
U.S. households by the end of the year, according to market
researcher Yankee Group. That is an increase from 60% at the end
of 2000. Cable modem service will pass 66% of homes compared to
45% available for digital subscriber line service. "Success will
increasingly be driven by the network operators' ability to
lower the cost of hook-ups," said Michael Goodman, a senior
analyst. He estimated that cable companies spend an average of
$360 for equipment to support a broadband subscriber. He cited
this as a reason why cable companies, such as ComCast , are
aggressively selling self-install cable modems through retailers
such as Circuit City  and Best Buy.

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

For late-breaking market news you can't afford to miss, go to
http://CBS.MarketWatch.com/

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Copyright 2001 CBS MarketWatch. All rights reserved.
Commercial use or redistribution in any form, printed or
electronic, is prohibited.

Distribution by Quris, Inc.


Wade,

Thanks for the email.  I would be an angle investor in your 24 hour a day
extension machine.  If anyone could do it, it would be Sanjay.  I would very
much like to meet with you.  Jeff as well.  I"ve got several openings that I
can create on Wed Sept 13th.  10:30 - 11:15, 1:30 - 2:00; 3:30 - 5:00.

Let me know what works.

Mike

To: Mike McConnell/HOU/ECT@ECT
cc: Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: India as LNG market

Mike,

I saw today's announcement regarding you taking responsibility for the Global
LNG work. This is great news, and congratulations. And as soon as I fine tune
my invention for Sanjay of granting more than 24 hours in a day, I'll forward
it to you also, as you both need it.

I would like for Sanjay and me to have an opportunity to discuss India and
its LNG potential with you. Both Sanjay and I are in town next week for the
PRC process, and I am tied up Monday in that and you and Sanjay are busy
Tuesday with PRC. Would it be possible to visit with you sometime on
Wednesday, Sept. 13 for 30 to 45 minutes so that we can give you an overview
of the India LNG market, discuss some opportunities and challenges we have
learned in our couple of years of marketing to downstream customers, and
perhaps some things that Enron can do to really take a dominant position in
the India LNG market? I'll put together a brief overview presentation, and we
can walk you through that presentation. After our meeting with you, I would
be happy to discuss this with other members of your new team as well.

Please let me know if a meeting on Wednesday works for your schedule.

Thanks,
Wade


A new version of CQG has been deployed to all current CQG users.  When you log out and log back in you may not initially see your saved layouts.
If this occurs, please follow the below instructions to retrieve your layouts.

If you need assistance please contact the resolution center at x31411 and your floor support technician will be able to assist.

Thank You.

Restoring user layouts after upgrades to 275.

once you are logged into CQG

goto SYSTEM
goto Auto Backup user setups
goto Restore from Archive tab
select most recent date prior to current day...... "its format is yyyymmddnn.zip
hit RESTORE NOW button
hit OK


As discussed, please see attached draft of GISB.

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


You need to take that draft to bank by tomorrow.  Mom got a voice mail saying
that they will need to reissue the
draft if we all have not signed by tomorrow.

Call if you have questions
713 853 4723
713 365 9035

---------------------- Forwarded by Scott Neal/HOU/ECT on 07/21/2000 07:21 AM
---------------------------

Mail Delivery Subsystem <Mailer-Daemon@postmaster.enron.com> on 07/20/2000
03:02:30 PM
To: <Scott.Neal@enron.com>
cc:
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From: "Scott Neal" <Scott.Neal@enron.com>
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Date: Thu, 20 Jul 2000 15:02:12 -0500
Subject: bank draft
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You need to take that draft to bank by tomorrow.  Mom got a voice mail saying
that they will need to reissue the
draft if we all have not signed by tomorrow.

Call if you have questions
713 853 4723
713 365 9035


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Tammy:
can you send me another copy of the 6th floor seating chart
Thanks,
John


Is Catherine working on environmental policy related to sustainability or is
she working on greenhouse gas transactions . . . or both?
---------------------- Forwarded by Steven J Kean/HOU/EES on 02/20/2000 05:15
PM ---------------------------

Mark Schroeder@ECT
02/20/2000 06:51 AM
To: Steven J Kean/HOU/EES@EES
cc:
Subject: European Trip Report 22-30 Jan 2000

You do not need to real Catherine McKalip-Thompson's full trip report from
her European venture, but you did express some surprise that on her trip to
Europe she went beyond policy and discussed "busienss" or commercial
activities, as I recall our conversation.  her note below makes clear, to me,
that partnerships and investments were discussed with, inter alia, a Dutch
distribution company, Credit Lyonnais, and CGU (an insurer).  Just FYI.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 20/02/2000
12:51 ---------------------------

Catherine McKalip-Thompson@ENRON_DEVELOPMENT
31/01/2000 18:36
To: John Palmisano/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Mark Schroeder@ENRON_DEVELOPMENT, Fiona Grant@ENRON_DEVELOPMENT, Terence
H Thorn/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mary J
John/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Heather J
Mitchell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: European Trip Report 22-30 Jan 2000

John,

Attached is my trip report for Amsterdam, Paris and London - I've given the
contact information for everyone to Kathy to be entered in the database and
thank you notes are going out today.

The company meetings did not go quite as well as I might have hoped (Edon was
not so interested), but we need to discuss further the potential relationship
with Credit Lyonnais' effort to develop the "gap financing" fund.UNEP
conference not as billed but some contacts there such as Credit Suisse First
Boston and Gerling's Sustainable Development Company were useful as both are
quite interested in climate change business opportunities.  Also it provided
a chance to gather interesting updated info on current financial-sustainable
development metrics, links, funds, firms, etc.  Discussions with participants
in the UK Emissions Trading group were interesting and I now have several
working papers on this effort which I can distribute to anyone who is
interested (though Mark's group probably has them already but I'll check with
them directly on that). I did not get the chance to meet up with Nicola Steen.

Catherine