This in an automated e-mail sent out from the Commissioner.COM
web site.  Do not reply to this e-mail, but instead please visit
your league's site at http://football.commissioner.com/kourn

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

Eric Bass requests the following transaction:.

  Drop Cade McNown.
  Add Justin Watson.

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

To approve this transaction, please go to your web site and
select Transactions, Requests in the Front Office.


Has the current Aircraft Market place, left you feeling grounded?
Here are the Top Ten reasons We'll keep you Flying High.
Drum Roll Please...
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I have just been informed that a wire from ONEOK was received yesterday for delinquent/disputed mmbtu reimbursement at the Mt. Jesus drip.  ONEOK had been withholding payment since April 2000.  The wire funds received not only included the $72,745.13 for April 2000 through June 2001 period  as requested in Dave Neubauer's September 24 letter, but also subsequently invoiced amounts for July and August 2001.  Looks like things are caught up and back on track.

Charlie Graham
Phone 402-398-7061
Fax 402-398-7122
OMA 0629


"Mark Younger" <mdy@slater-consulting.com> writes to the NYISO_TECH_EXCHANGE
Discussion List:

The ICAP Deficiency auction results indicate a price for the Rest Of State
that I believe is equal to the ICAP deficiency price.  Likewise, the Long
Island price appears to be the deficiency price.  How much capacity
requirement in each region was unmet by the deficiency auction?

Mark Younger
Vice President
Slater Consulting
69 Werking Road
East Greenbush, NY  12061
518-286-1937 ph
518-286-1941 fax


Jeff

Attached are the final drafts of the resolutions which I will introduce at
the board meeting tonight.  Of course the resolutions will be contingent on
the transfer of stock and I hope you will feel free to call me if you have
any problems with the transfer or if I can help in any other way.

I do hope you will send me some language and a photo for an appropriate
article in the bulletin.  I would like the congregation to know about your
generosity and the importance of our youth leadership programs.

Thank you again for everything. I look forward to seeing you on the 30th.

H. Philip Grossman
Fernandez Friedman Grossman and Kohn
2400 National City Tower
101 S Fifth St.
Louisville, Ky. 40202
502.589.1001
fax 502.589.7333
pgrossman@ffgklaw.com
http://www.lawyers.com/ffgklaw

 - Jeff Shankman.doc
 - Louis C. Shankman Fund.doc
 - Phil Grossman.vcf


Revision for August 13, 2000

August 11,2000

     Teco Tap            108.333 / HPL IFERC ; 20.000 / Enron

     LS HPL LSK IC       20.000 / Enron

August 12, 2000

     Teco Tap            85.000 / HPL IFERC ; 20.000 / Enron

     LS HPL LSK IC       20.000 / Enron

August 13, 2000

     Teco Tap            32.500 / HPL IFERC ; 20.000 / Enron

     LS HPL LSK IC       20.000 / Enron


Greg -

Apollo is taking Pacer (our transportation logistics company) public through
CSFB.  We're getting some interest in a sale as a result.  Given your
expressed interest in the company, do you want Enron to get a look?  Let me
know.

Larry


I am pleased to announce that Sean Bolks has joined our Risk Management &
Reporting Group and will continue the work he began with us as a consultant.
Prior to joining Enron, Sean held several academic positions most recently
serving as a postdoctoral fellow at Binghamton University in Binghamton, NY.
In addition to his teaching responsibilities there, he was responsible for
the design, statistical analysis, and publication of policy related projects
focusing on the efficacy of economic sanctions and alliance formation.

Sean received a B.A. and B.S. in Government and Theoretical Economics from
Cornell University in Ithaca NY, his M.A. in International Relations and
Ph.D. in International Relations, Quantitative Analysis, and Research
Methodology from Rice University in Houston, TX.

Sean has done a great job of helping utilize forecasting tools to improve our
storage capacity analysis.  We look forward to utilizing his expertise in
other areas of our business.  Please join me in welcoming Sean as a full time
member of our organization.  Sean,s work location is EB4145Q and extension is
3-5690.


Rick - Over the weekend we agreed to terms with PSE&G on a gas case
requestiung the transfer of pipeline capacity contracts.  In return for our
support, we obtained the following:
 Two three year gas storage deals with ENA;
 Three year Capacity Management, when Residential customers move to market
prices, (probably within two-three years);
 5% Basic Generation Service when BGS market opens 8/02.

ENA is currently valueing the gas deals, however, my guess is they are worth
approximately $3-5 million.  The cap mgt deal will be worth approximately
$25-30 million, whiule the BGS will be a liitle difficullt to quantify at
this point.  There was also a general understanding with Steve Teitleman,
President PSEG Genco, to increase the business between ENA and PS, both in
power and gas.

I will forward the LOI when it is signed, probably within a few days.  As
always please call if you wish to discuss the details.

Steve


Can we assume this will also cover Ft. Pierce?

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, June 01, 2001 10:09 AM
To: jkeffer@kslaw.com; Jacoby, Ben
Subject: Midway

Mark Haedicke approved the hiring of King & Spalding for this matter.  I will
drop Mr. Derrick a voice mail, but I would faint if he objected.

John, we need to talk about the sale of the LLC, and the generation of a
draft doc re same.  Please let me know if you are available today to discuss
this transaction with Sr. Jacoby and me.  Additionally, it would be helpful
to discuss the tolling arrangement with Ken.

Thanks,

Kay


Sorry!

I will place it below in the body of this message.

-Charlie

(Ken Lay bio for Davenport program)

Kenneth L. Lay is the chairman and CEO of Enron, based in Houston, Texas.
Enron, one of the largest integrated natural gas and electricity companies
in the world, operates one of the world's largest natural gas transmission
systems and is the world's largest supplier of electricity and natural gas
in North America. Under Lay's leadership, the company has grown to $31
billion in annual revenues. For the past four years, Fortune magazine has
named Enron the most innovative company in America.

Lay, a Missouri native, earned bachelor's and master's degrees from MU in
1964 and 1965, respectively, garnering Phi Beta Kappa distinction as an
undergraduate. He completed a PhD degree in economics from the University of
Houston in 1970.

After serving as an officer in the U.S. Navy, Lay joined Pinkney Walker as
his technical assistant in Washington, D.C., in the early 1970s. At that
time, Walker had just been appointed a commissioner of the Federal Power
Commission. Lay later served as deputy undersecretary of the U.S. Department
of Interior.

Lay is a member of the President's Council on Sustainable Development, the
Business Council, the National Petroleum Council and the American Enterprise
Institute. He is a member of the board of trustees of the H. John Heinz III
Center for Science, Economics, and the Environment. He is also a director
for Compaq Computer Corp., Eli Lilly and Co., and Trust Company of the West.

Lay received the college's Alumni Citation of Merit in 1990 and an honorary
Doctor of Law degree from MU in 1992. He received the Private Sector
Council's 1997 Leadership Award, was inducted into the Texas Business Hall
of Fame in 1997, and was presented a Horatio Alger Award in 1998.

-----Original Message-----
From: Kenneth.Lay@enron.com [mailto:Kenneth.Lay@enron.com]
Sent: Monday, September 11, 2000 9:17 AM
To: Rahm, Charles E.
Subject: Re: Bio for Davenport Program

OOps, I can't seem to open it!!

"Rahm, Charles E." <Rahm@missouri.edu> on 09/11/2000 08:58:56 AM

To:   "'Kenneth Lay'" <kenneth.lay@enron.com>
cc:
Subject:  Bio for Davenport Program

Dr. Lay:

We need a bio of you to include in the program for the Herbert J. Davenport
program on October 13. I have attached the bio of you that we used in the
brochure announcing the Pinkney C. Walker Endowment. Perhaps, with a few
adjustments, it will be suitable for this current need.

Please review the bio and send me any changes you would like made as soon
as
possible.

Thank you very much for your prompt attention to this.

Sincerely,

Charlie Rahm
senior information specialist
MU College of Business
573-884-1726
(fax) 573-884-1675

(See attached file: C.DTF)


Jeff- thanks very much for your support of our Energy News Today concept. We will talk to John Nowlan immediately, but based on your commitment today, we will proceed with the one year 360K commitment to ENT.  As mentioned, we had to act quickly to prevent the sources from being bought out by Petroleum Argus.  ENT has accepted our offer and the reporting will continue uninterrupted.

Attached below is Clay's memo on ENT for your reference.

Cheers,

RJ


Thank you for your help in chasing down the master.


Jeff / Michelle,

Here is the Daily Update for the 11th.

Suzanne

 - IGSUpdate.xls


I've attached my comments by redlining Change Order #2 to the Blue Dog
turbine contract.  The main points were 1) to replace EE&CC with ENA as the
Agent to E-Next Generation LLC and 2) to have 30 days to pay the invoice.
The E-Next Generation payment process is to receive ONE advance each month on
the 15th, therefore I could not guarantee payment within 10 days of receipt
of invoice.
-Catherine
x3-9943

 -----Original Message-----
From:  Barto, Brian
Sent: Thursday, February 01, 2001 11:44 AM
To: Clark, Catherine; Mann, Kay
Subject:

Catherine:  Lisa phoned me and said she would give you a heads up that this
second change order needed review and quick turn around.  Coincidentally, Kay
Mann is reviewing change order # 1 and will be looking into the change from
LJM to E-Next Generation language implications.  Hopefully the comments on
one will apply to the other.  Suggest you call Kay straight away to save time.

I am attaching both for your convenience.  I look forward to you comments.
By the way Kay; GE is looking it over right now too, and Scott Dieball has
been asked to review.  I Scott's review is not necessary please let me know.

 << File: CO#1-R2.doc >>  << File: CO#2-R1.doc >>


Michael,
how do you know which deals are the options if they are entered as forwards?
I input into the comments,  but I was about to ask how these options get trued up.

Thanks,
JMF

 -----Original Message-----
From: 	Jacobson, Michael
Sent:	Tuesday, July 24, 2001 9:18 AM
To:	Smith, Amy; Cason, Sharen; Dean, Clint
Cc:	Forney, John M.
Subject:	ERCOT Options 7/24/01

Frontera 696831.1 price changed from $25.66 to $26.6975
LCRA 697499.1 price changed from $36.02 to $35.855


To all SITARA users:

The SITARA system will be brought down on a nightly basis between 12:01AM  -
4:00 AM Central Time for nightly processing.
The system will be available in the morning after that time, with positions
primed by 5:30 AM.

CPR will be available during these times.

Please call the SITARA Hotline ((713) 853-7049) if you have any questions or
concerns.


Pat,

I have reviewed this agreement and provided my comments under a separate
email.  I would appreciate your review of Section 4.14 in particular, given
your familiarity with the compensation plans and benefit plans.  In terms of
timing, your comments probably can go into the next draft, but if you have a
chance to look at 4.14 today, it would be great!

Thanks a lot!

Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 10/18/2000 06:30
AM ---------------------------
From: Anne C Koehler on 10/17/2000 09:13 AM
To: Louis Soldano/ET&S/Enron@ENRON, Rhett Jackson/HOU/ECT@ECT, Morris Richard
Clark/HOU/ECT@ECT, David Marshall/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT
cc: Barbara N Gray/HOU/ECT@ECT
Subject: Project Triple Lutz

Attached please find a revised draft of the Purchase and Sale Agreement
prepared in response to Bidder A's comments.  Please review your sections and
provide me with any comments today.  We plan to circulate to the other side
this afternoon.  thanks

 Anne C. Koehler
Sr. Counsel, ENA
EB 3832
713-853-3448
----- Forwarded by Anne C Koehler/HOU/ECT on 10/17/2000 09:08 AM -----

	"Collins, Christopher" <chriscollins@velaw.com>
	Sent by: "Lowell, Katrina" <klowell@velaw.com>
	10/16/2000 04:25 PM

		 To: "Lee Jacobe (E-mail)" <ljacobe@lehman.com>, "'bgray@enron.com'"
<bgray@enron.com>, "Detmering, Timothy (Enron)"
<timothy.j.detmering@enron.com>, "'patrick.wade@enron.com'"
<patrick.wade@enron.com>, "'anne.c.koehler@enron.com'"
<anne.c.koehler@enron.com>
		 cc: "Wills, Anthony" <awills@velaw.com>, "Collins, Christopher"
<chriscollins@velaw.com>
		 Subject: Project Triple Lutz

Attached is a mark-up of the PSA with Bidder A, which incorporates most of
the Bidder A's comments.  As discussed, we have attempted to include those
comments proposed by Bidder A when possible and yet preserve the more
important "materiality protections for Seller.   The draft is marked against
Seller's bid document form, however, I have asked Lehman to send to me
electronically the Bidder A form.  Upon receipt, I will prepare and
distribute to you a compare-rite which will show the Bidder A comments which
we didn't accept.  In this draft, please note the following:

1.  Enron should confirm and advise whether the delayed closing date (April
2001) as reflected in Section 3.1 is acceptable.

2.  The tax provisions  include V&E's comments, however Enron Tax personnel
should consider carefully the "after tax basis" concept and definition,
Section 4.9 and Article 11.

3.  The appropriate Enron business people should provide input regarding the
proper thresholds and amounts for (i) the Deductible Amount, (ii) the
liability cap, (iii) Section 4.13 and Section 6.3.

4.  The appropriate Enron business people should provide input regarding the
provisions in Section 4.16 (Insurance) including the continuing post-closing
insurance obligations.

5.  The appropriate Enron personnel should advise us regarding the proper
procedures for Buyer to participate (observatory capacity) in the
post-signing business in accordance with Section 7.15.

Once you have had the opportunity to review the attached agreement, please
give me a call to set up a time to discuss your comments and required
revisions.

 <<Triple Lutz:Redlined PSA.DOC>>

 - Redlined PSA.DOC


-----Original Message-----
From: 	Brooks, Loretta
Sent:	Friday, November 02, 2001 6:00 PM
To:	Lavorato, John
Subject:	Presentation

John,

Attached is a copy of the presentation.


broker has .0075, we have 0

thanks!


Start Date: 12/29/01; HourAhead hour: 7;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122907.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.


Please restore the below referenced file as requested.  If you have any questions, please
	call me at ext. 3-7637.

 -----Original Message-----
From: 	Bodnar, Michael
Sent:	Monday, December 31, 2001 10:40 AM
To:	Blair, Lynn
Cc:	Cantu, Lupita
Subject:	FW: File Restore Request

Lynn,
After preparing the Storage Summary Sheet this morning I could not save the updated file. In fact the file has disappeared from this solar system. I contacted the Solution Center to have the file restored and was informed that a business reason and director level approval is required before any restoration work can begin.
As for the business reason, as you know, the NNG Marketing Dept uses this sheet daily to monitor storage activity and as a basis for purchase and sales decisions throughout the month. Marketing expects to see this sheet daily. In addition, Finance has requested a copy of the file daily to help track potential imbalance activity on NNG's system.
Lynn, Please forward this e-mail to the Solution Center authorizing the restoration of the file at  \\gthou-dv01\common\mkt\oma\sumdec01.xls so I can continue to support the informational needs of the Marketing and Finance Departments provided by the data in the aforementioned file.
Thanks,
Mike

 -----Original Message-----
From: 	ETS Information Risk Management
Sent:	Monday, December 31, 2001 10:06 AM
To:	Wilkins, Tony
Cc:	ETS Information Risk Management; Bodnar, Michael; ETS Solution Center,; Wagner, Glenda
Subject:	File Restore Request

Mike Bodnar needs a file restored.  It seems that the file got corrupted.  Mike Bodnar's director will send an email to ETS Sol Center requesting the restoration.  Path:  \\gthou-dv01\common\mkt\oma\sumdec01.xls.  Please restore it from 12/28/01 tape backup and restore it to the same location.  A high priority Remedy ticket # 37225 has been opened.

If you have any questions, please call me at x33876

Thanks!
Lupita Cantu
ETS Information Risk Management
713-853-3876


---------------------- Forwarded by Jim Schwieger/HOU/ECT on 03/22/2001 02:29
PM ---------------------------

Jim Schwieger
04/03/2000 05:00 PM
To: Brad Blevins/HOU/ECT@ECT, Nick Cocavessis/Corp/Enron@ENRON, Steve HPL
Schneider/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, Fiona Ryan/LON/ECT@ECT, John
Towles/OTS/Enron@ENRON
cc:
Subject: RE: Second Interconnect between MidCon Texas and HPL

Sounds good to me!   Let's get it done!

 Thanks,   Swig
---------------------- Forwarded by Jim Schwieger/HOU/ECT on 04/03/2000 04:58
PM ---------------------------

	Enron North America Corp.

	From:  Brad Blevins                           04/03/2000 03:58 PM

To: Jim Schwieger/HOU/ECT@ECT, Nick Cocavessis/Corp/Enron@ENRON, Steve -HPL-
Schneider/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, Tom Fry/GCO/Enron@Enron,
John Towles/OTS/Enron@Enron
cc:
Subject: RE: Second Interconnect between MidCon Texas and HPL

MidCon has decided to move forward with Flagstaff.  We have until November to
complete this project.  I suggest that we begin condemnation proceedings now
against the landowners of the property that we need.  We have been in
unfruitful discussions with this family up until now.  We need to get the ROW
for this project moving so Tom can prepare a new cost estimate for the
facilities.

---------------------- Forwarded by Brad Blevins/HOU/ECT on 04/03/2000 03:53
PM ---------------------------

"Pilkington, Kevin" <Kevin_Pilkington@kne.com> on 03/30/2000 03:22:02 PM
To: "'Brad Blevins'" <Brad.Blevins@enron.com>
cc:
Subject: RE: Second Interconnect between MidCon Texas and HPL

We want to leave it at Flagstaff.  Also, lets remove the penalty language in
the Facility Agreements.  Since we are both paying for our own facilities, I
don't think it is needed.

-----Original Message-----
From: Brad Blevins [mailto:Brad.Blevins@enron.com]
Sent: Monday, March 27, 2000 3:20 PM
To: Pilkington, Kevin
Subject: Second Interconnect between MidCon Texas and HPL

Have you reached an agreement within your shop about the location of the
second
interconnect between the two companies?


- 1_28_02ON.xls


ABX1 60 (Hertzberg) was just scheduled for hearing this afternoon in the
Assembly Energy, Costs and Availability Committee.  In brief, the bill
does the following:

Require, as a condition of certification by the CEC, that an applicant
offer to sell to an electrical
corporation, a municipal corporation, or the Department of Water
Resources, at a just and reasonable cost base price electrical power
generated by the facility.

This bill would also prohibit a person or entity, as defined, from
operating an electrical generation facility unless the person or entity
has submitted to the commission, within the time prescribed by
regulations adopted by the commission, a maintenance and outage
schedule, and the commission has approved that schedule.

http://info.sen.ca.gov/pub/bill/asm/ab_0051-0100/abx1_60_bill_20010216_introdu
ced.pdf


Pursuant to your request, attached is a very plain-vanilla motion to
intervene out of time and motion to expedite that you can provide to your
non-Gallup customers if you like.  If you do so, please inform them that we
are not providing this as legal advice but merely as an example, and whether
they choose to file in this proceeding and the content of what they file is
up to their own respective legal and regulatory departments.


I just received this e-mail from Todd Perkins at Southern Co.

 -----Original Message-----
From: 	"Perkins, Todd A." <TAPERKIN@southernco.com>@ENRON [mailto:IMCEANOTES-+22Perkins+2C+20Todd+20A+2E+22+20+3CTAPERKIN+40southernco+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 23, 2001 8:44 AM
To:	Heard, Marie
Subject:	Southern Company ISDA Master Agreements

We have been working on ISDA's with you for several of our subsidiaries
(Georgia Power Company, Mississippi Power Company, Gulf Power Company and
Savannah Electric and Power Company).  Up to this point, we have wanted to
execute an ISDA for each of these companies.  Due to the way in which we
operate our generation assets as a single system, we have decided that we
need to change the way in which we enter these ISDA's.  We would like to
execute a single ISDA with you that includes six of our subsidiaries.  This
is how we have entered some of our physical trading contracts.  In this
arrangement, the counterparty on Southern's side would be listed as,

"Southern Company Services, Inc. as agent for Alabama Power Company, Georgia
Power Company, Gulf Power Company, Mississippi Power Company, Savannah
Electric and Power Company, and Southern Power Company"

By using this approach, we have more flexibility in entering trades and it
provides even stronger credit protection for you since all six of these
companies are on the hook.  Probably the best way to proceed is for you to
forward your comments back to me from the last draft I sent to you.  I will
then make the changes to reflect this approach described above and send back
to you.  I look forward to receiving your comments back.  Please give me a
call if you have any questions.

Thanks,

Todd A. Perkins
taperkin@southernco.com
(404) 506-0655

> -----Original Message-----
> From:	Perkins, Todd A.
> Sent:	Friday, July 27, 2001 10:15 AM
> To:	'Heard, Marie'
> Subject:	RE: Draft ISDA Master Agreements
>
> Here are the ISDA Schedules for Georgia Power, Mississippi Power, and
> Savannah Electric with our comments.  Please let me know when you are
> ready to discuss.
>
> Todd Perkins
> Southern Company
> 404-506-0655
>
>  << File: Enron - Georgia ISDA Schedule.doc >>  << File: Enron -
> Mississippi ISDA Schedule.doc >>  << File: Enron - Savannah ISDA
> Schedule.doc >>
>
> 	-----Original Message-----
> 	From:	Heard, Marie [SMTP:Marie.Heard@enron.com]
> 	Sent:	Thursday, July 12, 2001 11:56 AM
> 	To:	taperkin@southernco.com
> 	Subject:	FW: Draft ISDA Master Agreements
>
>
> 	Hope this reaches you this time.
>
> 	Marie
> 	>  -----Original Message-----
> 	> From: 	Heard, Marie
> 	> Sent:	Wednesday, July 11, 2001 5:01 PM
> 	> To:	'taperkin@southernco.com'
> 	> Cc:	Espinoza, Veronica; Boyd, Samantha; Panus, Stephanie;
> Hendry,
> 	> Brent
> 	> Subject:	Draft ISDA Master Agreements
> 	>
> 	> Mr. Perkins:
> 	>
> 	> Pursuant to Veronica Espinoza's request, I am attaching the
> following
> 	> for your review:
> 	>
> 	> 1.	Schedule to the ISDA Master Agreement and Paragraph 13 to
> the
> 	> ISDA Credit Support Annex between Enron North America Corp.
> ("ENA")
> 	> and Savannah Electric and Power Company.
> 	>
> 	> 2.	Schedule to the ISDA Master Agreement and Paragraph 13 to
> the
> 	> ISDA Credit Support Annex between ENA and Georgia Power Company.
> 	>
> 	> 3.	Schedule to the ISDA Master Agreement and Paragraph 13 to
> the
> 	> ISDA Credit Support Annex between ENA and Mississippi Power
> Company.
> 	>
> 	> Please do not hesitate to contact either Brent Hendry, Senior
> Counsel
> 	> at (713) 853-7124 (brent.hendry@enron.com) or me should you have
> any
> 	> questions or comments.  We look forward to hearing your comments.
> 	>
> 	> Marie Heard
> 	> Senior Legal Specialist
> 	> Enron North America Corp.
> 	> Phone:  (713) 853-3907
> 	> Fax:  (713) 646-3490
> 	> marie.heard@enron.com
> 	>
> 	>
> 	> 				 <<020ctr(savannah).doc>>
> <<106
> 	> ctr (Georgia Power Co).doc>> 	 <<153ctr(miss power).doc>>  <<
> File: 020ctr(savannah).doc >>  << File: 106 ctr (Georgia Power Co).doc >>
> << File: 153ctr(miss power).doc >>


Tana

Further to Sara's e-mail below, can you let me know when you will be in a
position to send me documents used in your ISDA negotiations with the US
Kellog entitiy.

Many thanks

Deepak

--------------------- Forwarded by Deepak Sitlani/LON/ECT on 03/05/2000 14:00
---------------------------

Sara Shackleton
02/05/2000 15:12
To: Deepak Sitlani/LON/ECT@ECT, Michael Khajeh-Noori/LON/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT

Subject: Re: Kellogg's

ENA  sent execution copies of the ISDA to Kellogg Company on April 10.  By
copy of this email, I ask that you touch base with Tana Jones in Houston who
will verify the status of ENA's ISDA with Kellogg Company and send you copies
of our documents for use in your negotiations.  Let  me know if you have any
questions.  Sara

Deepak Sitlani
05/02/2000 06:55 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Martin Holmes/LON/ECT@ECT, Paul Radous/Corp/Enron@ENRON, Edmund
Cooper/LON/ECT@ECT, Michael Khajeh-Noori/LON/ECT@ECT
Subject: Kellogg's

Sara

Paul Radous asked me to get in touch with you in connection with a proposed
ISDA Master Agreement with Kellog Supply Services (Europe) Limited.  I should
be grateful if you would send me by e-mail all documents relating to the ISDA
recently executed between ENA and Kellog's as Paul would like us to use
similar provisions.

In passing, I should point out that both I and my colleague, Michael
Khajeh-Noori, will be dealing with this matter.  I am in the office on
Mondays and Tuesdays and Michael is in the office on Thursdays and Fridays.
I should therefore be grateful if you would address any e-mails to both of us
(we can both be contacted on the same extension: 34539).

If you have any questions, please let me know.

With kind regards

Deepak

Paul: will you be preparing a credit worksheet for this entity?
---------------------- Forwarded by Deepak Sitlani/LON/ECT on 02/05/2000
12:37 ---------------------------

Edmund Cooper
25/04/2000 16:41
To: Deepak Sitlani/LON/ECT@ECT, Michael Khajehnoori/LON/ECT@ECT
cc:

Subject: Kellogg's

FYI
---------------------- Forwarded by Edmund Cooper/LON/ECT on 04/25/2000 04:42
PM ---------------------------

Martin Holmes
04/25/2000 04:26 PM
To: Paul Radous/Corp/Enron@ENRON
cc: Edmund Cooper/LON/ECT@ECT

Subject: Kellogg's

Paul

We have recently concluded an ISDA with The Kellogg  Company in the USA. Now
their European entity, Kellogg Supply Services (Europe) Limited of The
Kellogg Building, Talbot Road, Manchester M19 0PU, UK, would like to see an
ISDA Mastera and Schedule.

Can you look at this entity from a credit point of view please? I do not have
separate financials for them, but if you need them will ask for a latest set.

Thanks

Martin Holmes

PS
Did you get the Sappi International financials? And have you made any
progress with Rottneros?

Thanks

MH

London x 5357


Rod,
Mark asked me to forward the attached files to you.
Terry


Don:

There are Oasis requests for Ameren with your name on them for which deals are missing in Enpower - nothing in the Hourly P&L.  There are also a couple of requests under "Punit Rawal" - if you know anything about these, please let me know.  Check it out and get let me know what the deal numbers are.  Since this is the last week of the month we need to get these fixed asap.  If you need help or have questions, please let me know.

09/16
HE 1 & 2 @ 102 MW Oasis #'s 977165 & 977173
HE 23 & 24 @ 204 MW Oasis #'s 977607 & 977641


Please forward to Gov't Affairs group.

	Enron North America Corp.

	From:  Tammy R Shepperd                           10/17/2000 08:07 AM

To: Laura Luce/HOU/ECT@ECT, Christi L Nicolay/HOU/ECT@ECT
cc:
Subject: ENA Power Strategy

Attached are the materials that were presented at the Power Strategy meeting
Monday.

Tammy Shepperd
x36589


---------------------- Forwarded by Yvonne Acosta/Corp/Enron on 02/29/2000
07:25 PM ---------------------------

Judy Hernandez @ ECT on 02/25/2000 03:36:26 PM
To: Yvonne Acosta/Corp/Enron@ENRON, Amber Limas/HOU/ECT@ECT, Leslie
Smith/HOU/ECT@ECT, Michelle Neville/HOU/ECT@ECT, Regina
Blackshear/Corp/Enron@ENRON, Amber Ebow/HOU/ECT@ECT, Shirlet
Williams/HOU/EES@EES, Angela Barnett/HOU/ECT@ECT, Lisa Shoemake/HOU/ECT@ECT,
Eve Puckett/Corp/Enron@ENRON, Albert Escamilla/HOU/ECT@ECT
cc:

Subject: FW: FW: I am not ashamed to pass this on...Are you?

---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/25/2000
03:14 PM ---------------------------

	From:  Elizabeth Soto                           02/25/2000 03:01 PM

To: Phenicia Olivier/HOU/ECT@ECT, Pamela Chambers/Enron Communications@Enron
Communications, Judy Hernandez/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT,
Chantelle Villanueva/HOU/ECT@ECT, Alicia Perkins/HOU/ECT@ECT, Yvette G
Connevey/Corp/Enron@ENRON, Laura Vargas/Corp/Enron@ENRON, Alisha
Guerrero/HOU/ECT@ECT, Shawna Johnson/Corp/Enron@ENRON, Melba
Lozano/HOU/ECT@ECT
cc:
Subject: FW: FW: I am not ashamed to pass this on...Are you?

---------------------- Forwarded by Elizabeth Soto/HOU/ECT on 02/25/2000
02:58 PM ---------------------------

	Enron Global Finance

	From:  Phenicia Olivier                           02/25/2000 11:29 AM

To: Paula Pierre/HOU/ECT@ECT, Angie Collins/HOU/ECT@ECT, Irena D
Hogan/HOU/ECT@ECT, Laura Gutierrez/HOU/ECT@ECT, Maria Sandoval/HOU/ECT@ECT,
Jessie Bledsoe/HOU/EES@EES, Pamela Sonnier/HOU/ECT@ECT, Debora
Whitehead/HOU/EES@EES, Andrea R Guillen/HOU/ECT@ECT, Elizabeth
Soto/HOU/ECT@ECT, Brenda Barreda/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: FW: FW: I am not ashamed to pass this on...Are you?

---------------------- Forwarded by Phenicia Olivier/HOU/ECT on 02/25/2000
11:25 AM ---------------------------
To: Jackie Galloway/EPSC/HOU/ECT@ECT, Debora Whitehead/HOU/EES@EES, Keesha
Joubert/HOU/EES@EES, Phenicia Olivier/HOU/ECT@ECT, Darlene C
Forsyth/HOU/ECT@ECT, Kim Ladish/HOU/EES@EES
cc:
Subject: FW: FW: I am not ashamed to pass this on...Are you?

---------------------- Forwarded by Jessie Bledsoe/HOU/EES on 02/25/2000
11:19 AM ---------------------------

> I am not ashamed to pass this on...Are you?
> I am not ashamed to pass this on...Are you?
>
>
> Pass this on only if you mean it.
> Yes, I do Love God. He is my source of
> existence and Savior. He
> keeps me functioning each and
> everyday. Without
> Him, I will be nothing.
> Without him, I am nothing
> but with Him I
> can do all things
> through Christ that
> strengthens me. Phil 4:13
>
> This is the simplest test ...if you Love
> God, and are not
> ashamed of all the marvelous things
> he has done for you.
>
> Send this to ten
> people and the person who
> sent it to you!
>
>


---------------------- Forwarded by Louise Kitchen/LON/ECT on 08/03/2000
11:58 ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Dave Krunnfusz" <dkrunnfusz@agency.com>
08/03/2000 11:38

Please respond to dkrunnfusz@agency.com
To: lkitchen@enron.co.uk
cc:  (bcc: Louise Kitchen/LON/ECT)

Subject: Followup

Louise -

I haven't received a response to my e-mail of last week indicating I was
coming to London and would welcome the opportunity to finally meet
face-to-face. If you are available and interested,  please let me know
as I am definitely interested (if, for no other reason, then to put a
face to a name and voice).

On another topic,  I recently found out that we briefly displayed a
slide at a conference that had the Enron logo on it.  I was told we did
not verbally state the company name. I went ballistic! I've made sure we
talked with the conference organizers to make sure that none of the
offending material is distributed to the conference participants. I
deeply regret that the incident occurred.

Again, I would still like to get together and, if you wish, promise to
keep it purely social with no business discussions. The offer is there.
Let me know.

Sincerely,
Dave

--
<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>
David A. Krunnfusz
Executive Vice President, Delivery Services
AGENCY.COM
225 N. Michigan Ave, Suite 2100, Chicago, IL 60601
dkrunnfusz@agency.com     www.agency.com
Office: (312)729-4567      Fax: (312)729-4540


Please see the PH Glatfelter Company ISDA worksheet. If you have any questions, please call me.

Thanks,
Maribel M Monterrey
Office: (713) 853-9048
Fax: (713) 853-9476
Maribel.Monterrey@enron.com


I have the forms that need signatures.

There are a lot of people with more that 40 hours.

Also there are alot of people with 40 hours to roll.  I am not sure
any of these numbers are right.

I will have AC deliver to you the pages for you to sign .

thanks

bob

 -----Original Message-----
From: 	McLoughlin, Hector
Sent:	Wednesday, January 16, 2002 11:22 AM
To:	Hall, Bob M; Sweeney, Kevin; Forster, David; Roper, Kerry; Piper, Greg; Apollo, Beth; Beck, Sally; Pearce, Barry
Cc:	Reeves, Leslie; Choate, Heather; Craig, Braedi; Carrizales, Blanca; Valdez, Christina
Subject:	Vacation balance carryover

2002 YEAR-END VACATION CARRYOVER GUIDELINES

I will be sending to you today hard copies of the vacation carry-over report for your business unit. Please verify the accuracy of the 40 hours carry-over and sign the bottom of the page.  Additionally, if you have employees, who for business reason, need to carry-over more than 40 hours, please do the following:

?	Place the total number of hours over the 40 hours carry-over in the column entitled "additional carry-over amount approved"
?	Initial and provide business rationale. If there is not enough space on the report, please provide your rationale under separate cover.
Please sign and date at the bottom of each sheet.

Approval for carryover in excess of 40 hours will need the approval of the Creditors Committee and Executive HR.
Please complete and return sheets to me  by January 22, 2002. The endorsed exceptions will be reviewed by the Bankruptcy Committee and Human Resources leadership from January 25-29, 2002. We hope to post and reflect all approved carry-over vacation by January 31, 2002. Please call if you have any questions. I appreciate your support in this process.

Hector McLoughlin
Ext. 36703


Start Date: 4/18/01; HourAhead hour: 8;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041808.txt


I tried calling you last night but your phone just kept ringing.

AND, John Kinder called me this morning and told me I didn't get my
capacity.  He said the winter goes for max rate and I bid $.16, but the
goober would not give me a good feel for what it went for.


Tracy is losing most of her TW team to other jobs.   Palu is going to Operations Support for a promotion, Jeanette Doll is going to the Rates crew and Jan Moore has expressed a desire to make a change as well (I think I have those all straight).   I would like to consider this a development opportunity for someone on the high potential list to see what they can do in a different role.    The role is important as it is the key representative of our group facing the TW commercial team full time, Tracy needs to be able to count on this person to lead when she is not available.   The names that come to mind off that list are Henry Baker, Dana Jones, Sophie Patel, Greg Schlender, Deelyn Pool, and Robert Geheb.     I would like Tracy to interview these people (by phone if necessary)  and to decide who should be offered this opportunity.    If there is someone on this list that you no longer support as a high potential employee, please let the group know ASAP.   If there is someone else on the list that we need to consider please let us know as well.

For Brian and Laura: Could you make any recommendations from the ETS lists?

Rod Hayslett
EB4054
713-853-6178


Hi Don,

  I was just following up to my last email regarding the status of job opportunities in your group.  I had a death in the family and was out last week.  I know you guys are probably coming up on bidweek now and have very little time to interview.  I would really like a one on one with you to discuss opportunities as soon as you can  make some time available.  As I mentioned before, having had the opportunity to go up and observe the guys helped tremendously.  Thank you again for that.  This is exactly  what I want to do.  I hate to come out sounding like a pest, but, I am eager to start.   I want to work the night shift and get back into the fasted paced environment.  Thank you for your time, Don, hoping to hear from you soon.

Sincerely,

Zarin Imam

X56788


Chris,

I am not sure if you are the person to answer these questions or not, but I have your name as my contact.  I have a few questions regarding Company 20Q:

1.  Bad Debts Expense/Allowance for Doubtful Accounts:
	The balance sheet activity does not match the income statement activity.  The difference is roughly $10 million.
	Could you please provide a detailed analysis of the following two accounts:
		52501000
		20017000

2.  Amortization:
	What does the expense in account 5700-0000 relate to?  I see that the monthly expense increased from 2,959 to
	39,462 in April.  Did some new items appear?  If so, please explain the nature of the transactions.  I will need to
	this information to ensure that our tax amortization is properly reflected for 2001.

3.  Deferred Debits:
	Please provide an explanation of what is in this account.

4.  State Apportionment:
	Please verify that the following amounts are truly foreign in nature (as evidenced by jurisdiction code 79).  I am asking for
	verification so that I can be sure that my calculated state tax rate is correct.

		Account Number	Jurisdiction Code	Amount

		40001000		79			381,203
		40002000		79			(308,658,611)
		40005000		79			363,428,746
		45019000		79			(36,245,170)
		69000000		79			7,498

The answers to these questions may be as simple as providing E-schedules, or there may be more detail needed.  If you could have this information to me by November 15, I would greatly appreciate it.  If you have any questions or issues with this request, please call me at extension 53522.

Todd Richards
Corporate Tax Department - Commodities and Trading
713.345.3522


Detailed Functional specs are available in o:\eol\phase2


This looks fine. Can I get a copy of what went. I may be in D.C. next week.

 -----Original Message-----
From: 	Labanowski, Elizabeth
Sent:	Thursday, July 05, 2001 10:34 AM
To:	Kean, Steven; Linnell, Elizabeth; Montovano, Steve; Sharp, Vicki; Sanders, Richard B.
Cc:	Davidson, Sara; Labanowski, Elizabeth
Subject:	FW: Draft AG Letter
Importance:	High
Sensitivity:	Confidential

Ken Gross's assistant has sent me their proposed draft of the document that Skadden would submit to the New Jersey AG in connection with the investigation of Enron's political contributions in the state during 1999.  I would appreciate your careful review of this material, and I also request that you get any comments back to me by end of day on Monday, July 9.  If we need to meet face-to-facer on this, I am in town and available.

If you feel I have forgotten anyone on the distribution list, please let me know.  Many thanks!

 -----Original Message-----
From: 	Sylvon Lawrence [mailto:SLAWRENC@skadden.com]
Sent:	Thursday, July 05, 2001 10:14 AM
To:	Labanowski, Elizabeth
Subject:	Draft AG Letter

 << File: was1_355047_1.doc >>


Dear Power Outage Database Customer,

Attached you will find an excel document. The outages contained within
are forced or rescheduled outages. Your daily delivery will still
contain these outages.

In addition to the two excel documents, there is a dbf file that is
formatted like your daily deliveries you receive nightly. This will
enable you to load the data into your regular database. Any questions
please let me know. Thanks.

Greg Elliott
IIR, Inc.
713-783-5147 x 3481
outages@industrialinfo.com

THE INFORMATION CONTAINED IN THIS E-MAIL IS LEGALLY PRIVILEGED AND
CONFIDENTIAL INFORMATION INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR
ENTITY NAMED ABOVE.  YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION,
DISTRIBUTION, OR COPY OF THIS E-MAIL TO UNAUTHORIZED ENTITIES IS
STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS
E-MAIL IN ERROR, PLEASE DELETE IT.

 - OUTAGE.dbf
 - 101101.xls
 - 101101R.xls


Thanks for the joke - it's getting lots of laughs!


if we were open today, where would you open it?


FYI.

---------------------- Forwarded by Rakesh Bharati/NA/Enron on 03/27/2001
07:43 PM ---------------------------

Sheridan Titman <titman@mail.utexas.edu> on 03/27/2001 06:46:31 PM
To: Rakesh.Bharati@enron.com
cc:

Subject: Re: Comments

Rakesh:

Thanks for your input.  They are quite useful for helping me clarify my own
thinking.  The following are my responses to your comments and
clarifications.  The **ed paragraphs are from me and the others are from you.

1.  The money is being set aside to avoid negative values.  It is not clear
if you mean the values of the cash flow or the PV at the node.  Anyhow, we
shall be setting aside money not just for that specific node but all nodes
at that cross-section of time as the risk-free asset pays in all states of
nature.  This will have to be done every time there is a negative
realization.  Thus, for the typical project we have, the value of risk
capital may be extremely high, as we are not following a tail-based norm
anymore.

** I agree that this is confusing and needs further refinement.  I do this
because I have some concerns about discounting negative cash flows, (this
is discussed in my first memo).  This clearly provides a conservative
estimate of firm value, and a measure of risk capital that is too high.
From the perspective of evaluating the appropriate level of risk capital,
it is sufficient that enough capital be employed so that the PV at each
node is positive.  Also, one might want to set the level so that the PV is
positive in say 98% of all nodes.

2.  Your memo appears to suggest that debt capacity is contingent on all
values being positive.  If so, we are only issuing risk-free debt.  Also, a
project with a single negative value at each cross-section of time will not
have a positive debt capacity.

**Again, this is a very conservative initial estimate.  When the model is
refined, you probably want to define debt capacity so that the project
defaults a certain percent of the time.

3.  It seems that our optimization argument is the discount rate, which is
obtained in each step from the comparison investment (by equating the
variances).  It is not clear if changing the discount rate will have such
an effect on the project variance so as to lead to a global convergence.

**I am not assuming that the change in the discount rate has a major effect
on volatility.  In fact, I think the process requires only one iteration
when the volatility is independent of the discount rate.  Again, the idea
is that we calculate the volatility of the project's value calculated with
an initial discount rate.  Using the calculated volatility and the stock of
a comparison firm, calculate a more appropriate discount rate.  If the
volatility of the project's value is not affected by the change in discount
rates then we are done.  If, however, the change in discount rates changes
volatility, then we may have to iterate.

Let me know if this makes sense.**

Also, our project has a finite life and the market-based assets will have
infinite lives.  In the light of this fact, how will we define the relevant
variance?  Is it the spot variance of the returns of the comparison
investment?

**This is a good point.  I was thinking in terms of the average variance,
but this may not be correct.  Actually, we know that this is just an
approximation and we need to think about whether or not it is a good
approximation.  Typically, firms tend to ignore issues relating to the
duration of their project cash flows when they determine discount rate,
which clearly does not make sense.  This requires some additional thought.**

4.  Finally, our criterion is to subtract from the average PV the
investment and also the risk capital.  Setting risk capital to zero, this
model closely resembles the intuitive present value criterion and
endogenously determines the discount rate.

**This is correct.  My goal was to come up with something that was closely
related to what you are already doing but which gives you some insight into
how to define risk capital and the appropriate discount rate.  There are a
number of ways that we can refine and improve this procedure.  What we need
to first consider is whether or not the basic approach makes sense for the
kind of projects that you are evaluating.**

Gas Field Case

To facilitate your thinking, we are providing a gas field example below.

We invest x million dollars to buy and develop a gas field.  A profile of
expected production and variance of the production per year is available
from the engineers at the beginning.  Production will be autocorrelated, as
the profile will shift up or down based on the actual gas reserves being
more or less than the estimated reserves.   We assume the life of the field
to be 10 years with no salvage value.  There are fixed and variable
operating costs.  It might be useful for you to think about applying the
framework to this problem.

**This problem is probably pretty straightforward because it is unlikely
that the cash flows will be negative once the gas field is producing.
Hence, there is no need to be concerned about risk capital (other than the
x million dollars to buy and develop the property).  To value the property
assuming all-equity financing we calculate the value process of the
developed project and compare its volatility to a comparison investment
whose value process is observable (e.g., a traded MLP).  The risk-adjusted
return of the comparison investment would then be used to discount the cash
flows of the gas field.

Please note that this procedure requires relatively strong assumptions and
calculating the risk-adjusted return on the comparison investment is not
necessarily straightforward. **

Let me know when you would like to discuss this.

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

On another topic, is it possible for you to give me information about one
case where Enron bought or sold a base load power plant, where the
purchaser financed the transaction with non-recourse debt.  We would like
the following information:

1. The value of the power plant (or purchase price)

2. The amount of debt financing and the terms of the debt contract.

3.  Some information about the pricing of gas-power swaps and options.

About a year ago I gave Vince a paper which develops a pricing model for
project debt.  I don't think he thought that it could be implemented on the
type of projects that Enron finances.  However, my coauthors would like to
try applying the model for one case study.

Let me know when you want to discuss these issues.

Thanks,

Sheridan
Sheridan Titman
Department of Finance
College of Business Administration
University of Texas
Austin, Texas 78712-1179

512-232-2787 (phone)
512-471-5073 (fax)

titman@mail.utexas.edu


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

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

Crude     http://www.carrfut.com/research/Energy1/QO48.pdf

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


Attached is a copy of the press release describing the gas rule.

I've heard through the grapevine that pipelines (not GPG) are already
complaining that there
is  "nothing in it for pipelines."   I think we should be cautious about
being so critical before we have even seen
the rule itself.  After all, many of the items in the rule are there at the
pipelines request (seasonal & term-differentiated rates).

I hope to be able to send out a summary on Friday.


deal killer
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/08/2001 07:29
AM ---------------------------

	From:  Ben F Jacoby @ ECT                           05/03/2001 07:55 PM

Sent by: Ben Jacoby@ECT
To: Carlos Sole, Kay Mann, Chris Booth, Christopher Calger, W David Duran
cc:

Subject: SW501D5A - Montana Power

I spoke to Tom Loberg of Montana Power today regarding the status of our
discussions on the D5A. He advised me that part of their merger deal with
Northwestern Corp required that projects such as the one contemplated for the
D5A required the approval of Northwestern's board. Montana presented the
project to Northwestern's board today, but the board declined to grant such
approval. Tom declined to provide me any further insight.

We will of course immediately begin to pursue other sales opportunities for
this turbine. FYI, our exclusivity agreement with Northwestern expires
tomorrow.

Regards,

Ben


ok, if not champions we can play sweetwater

 -----Original Message-----
From: 	"Corey Ayers" <cayers@cmsenergy.com>@ENRON
Sent:	Wednesday, January 16, 2002 10:29 AM
To:	Maggi, Mike
Subject:	RE: golf

i am thinking about a 1:30 to 2:00.  I have a new Titleist 975J, your toast


Good morning, hope everyone had a great weekend!!!  Now let's get back to
helping millions.  Don't forget to fill out your online pledge card before
the "Sundae Wednesday."  And remember, we will be having "Million dollar
Sundaes" on Wednesday in front of the copy machine where the celebrations are
usually held.

If you need assistance with your online pledge card please feel free to give
me a call at ext. 3-7571.

Thanks,

Pam


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VANCOUVER & MORE AT UNBELIEVABLE SUMMER SALE PRICES

Vancouver, one of the coolest cities in Canada, is on sale at super sale
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sample fares: From Los Angeles, $158 roundtrip; from Dallas, Houston,
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CARIBBEAN SALE FARES FROM $328 THROUGH SEPT. 30, '01

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THIS WEEKEND'S ONLINE TRAVEL DEALS AT A GLANCE

We love to save you money but we like to save you time, too. Some travelers
spend hours looking for the best prices for last-minute weekend travel
getaways. Bestfares.com travelers can get the job done in minutes. Every
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summaries. We cover domestic and international airfares, hotels and car
rental discounts, giving you comprehensive coverage for one-stop shopping.
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You are currently subscribed to hot_deals as pkeavey@ECT.ENRON.COM
To unsubscribe send a blank email to
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 Copyright 2001 by Bestfares USA Inc. All rights reserved.


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FYI

It is anticipated that Enron will announce later this week, a new "Employee
Stock Option Plan".

Approximately 45 days ago we analyzed the cost of EOTT's participation in
this program.  The cost impact was $2.5 - $3.0 for each year over the next
five years with no provision of supervesting in the event a business group
was divested during the term of the grant.  Based on these factors, a
decision was made for EOTT not to participate in the program at this time.

While EOTT employees will not directly receive communications on this
program, it is possible that the senior leadership group could receive a
question on EOTT's participation.   We have elected not to send an EOTT
employee communication about nonparticipation to avoid raising the issue
where not necessary.

If you receive questions, you may refer the individual to me or answer with
the appropriate response based on the information in this e-mail.

Thank you in advance for your cooperation and support of this decision.  If
you have further questions or comments, please advise.


Every little bit helps

 -----Original Message-----
From: 	Mihalik, Trevor
Sent:	Thursday, October 25, 2001 4:54 PM
To:	Redmond, Brian
Subject:	Unpaid items due the parents

Brian -

Attached is the listing of items that we have accrued but not paid as of Sept 30th.  We do have several items due to Bridgeline from Enron.  The first is that we have not received 16 months of the CES asset management payments from Enron (16 X $50,000 = $800,000) and the second is the Btu conversion adjustment to PAD gas for Aug and Sept that Jean has agreed to.  This amount is $274,000.  Net net, we owe Enron approx $226,000.

Give me a call if you want a detail explanation on any of this.

Thanks

Trevor


Steve,

Attached is the legal opinion.  Sara Shackleton will be the attorney we
meet with on your changes and she is available all Wednesday afternoon.
Do you want to say 1:30 your time, 3:30 ours?  Please confirm and I will
set everything up with Stephanie.

Thanks,

Kim Ward
713-853-0685

 -----Original Message-----
From: 	Panus, Stephanie
Sent:	Monday, August 06, 2001 11:49 AM
To:	Ward, Kim S (Houston)
Cc:	Shackleton, Sara
Subject:

Attached is the form of legal opinion.

Stephanie Panus
Enron North America Corp.
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  stephanie.panus@enron.com


Okay, I do need to get my pager today


Gentlemen,

Last Feb 22, I sent you an e-mail on an insurance concept to mitigate some of
the risks of the Delmarva peaking deal.  In essence, the insurance policy
would trigger off the sale of the asset to a third party, or other
restructuring designed to recapture and repay moneys owed creditors such as
Enron.  The basic formula would be (Asset Sale Proceeds - Debt - Moneys Owed
Enron under both the Financial Buy or Financial Sell contracts = Loss).

I propose that Enron take the first $50/kw of loss and 10% of the balance.

Initial results from numerical analysis suggests I could pay $5 million for
the policy.

I have attached a simple spreadsheet showing max. possible loss in any year,
and equity write down each year under the maximum loss scenario.  The equity
write down is designed to model the likelihood that equity will allow the
project to go into bankruptcy.

regards,

Don


All:

For those people wanting to learn more about Var calculation and application, I've put a copy of JP Morgan's RiskMetrics documentation on the P: drive under \MidMarketing\RiskMetrics. Of the five documents, Part 2 probably gets most directly at the questions that were being asked in Matt's seminar.

Tim H


I'll be calling in from out of the office, as will Sheila.


Kathy,

Aquila accidentally traded my financial product instead of my physical
product. Could you change the financial deal they did to phys?

I buy 5000 from Aquila at 3.645 for May.

Thanx,

Chris


Attached is our report on the impact of last week's events on the reinsurance industry.  We are continuing to monitor revised claims estimates and other implications for the industry and will update you on any developments as soon as possible.

Highlights include:
Initial Estimates
?	A trend toward initial estimates growing over time as more information becomes available typically occurs, especially in times of complex and costly disasters.
The complexity of the insured coverage (multiple types, heavily syndicated, heavily layered and heavily reinsured) makes developing estimates on even the most straightforward exposures (e.g., commercial property) a huge challenge.  Other sources of exposure (e.g., business interruption and 3rd party liability) are nearly impossible to estimate accurately at this time.
Insurers generally track their losses on a net basis, based in the presumption that all ceded reinsurance is collectible.  There will likely be disagreements between insurers and reinsurers about the extent of coverage.  It is also possible that some reinsurers will be unable to honor all their claims, leaving primary insurers to shoulder a heavier load.
Industry Implications
Beyond the immediate impact of this disaster on insurers' direct costs, industry analysts also note a broader number of implications for the industry:
Continued flight to size and quality of insurance carrier, causing further consolidation of the industry.
Acceleration of price increases already underway within commercial insurance and reinsurance.
Acceleration of restructuring at Lloyd's, a market that specializes in just the types of coverages (aviation, specialty commercial, catastrophe reinsurance) that will be hardest hit.  Some analysts put Lloyd's share at $1.5 billion or more, a heavy blow given that many Lloyd's syndicates have suffered significant losses in recent years.


---------------------- Forwarded by Kayne Coulter/HOU/ECT on 02/26/2001 10:36
AM ---------------------------

Gary and Donna Holtz <dgholtz@yahoo.com> on 02/25/2001 10:06:32 AM
To: dgholtz@yahoo.com
cc:
Subject: God Bless Texas

>  GOD BLESS TEXAS
>
>  It seems a man in Topeka, Kansas, decided to write
> a  book about
>  churches  around the country.   He started by
> flying to San Francisco,
>  and started  working east from there. He went to a
> very large church
>  and began taking photographs, etc. He spots a
> golden telephone on a
>  wall and is intrigued with a sign which reads
> "$10,000 a minute."
>  Seeking out the pastor he asks about the phone and
> the sign.  The
>  pastor answers that this golden phone is, in fact,
> a direct line to
>  Heaven and if he pays the price he can talk
> directly to God. He thanks
>  the pastor and continues on his way.  As he
> continues to visit churches
>  in Seattle, Boise, Minneapolis, Chicago, Milwaukee,
> New York,
>  Atlanta, and on around the United States, he finds
> more phones,
>  with the same sign, and the same answer from each
> pastor.  Finally,
>  he arrives in Texas.  Upon entering a church in
> Austin, lo and behold,
>  he sees the usual golden telephone. But THIS time,
> the sign reads
>  "Calls: 25 cents." Fascinated, he requests to talk
> to the pastor.
>  "Reverend, I have been in cities all across the
> country and in each
>  church I found this golden telephone, and have been
> told it is a
>  direct line to Heaven and that I could talk to God,
> but, in the other
>  churches the cost was $10,000 a minute.  Your sign
> reads 25 cents
>  a call.  Why?"   The pastor, smiling benignly,
> replies,
> "Son, you're in Texas now, it's a local call."
>
>

__________________________________________________
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/


Just Morgan Stanley requiring tighter credit terms so far.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Thursday, October 25, 2001 10:14 AM
To:	Presto, Kevin M.
Subject:	ConEd Regulated T&D Rate Swap Meeting

Kevin -

FYI.  Yesterday am ConEd abruptly cancelled the meeting we had with them to discuss this strategy.  They had been anxious to discuss this concept.  My guess is that the recent events led them to back off a little.

Any new developments up there re: trading partners?

RH


52
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It'll be a big battle in uncharted (bankruptcy) waters ....

PG&E restructuring bid draws state ire
By Dale Kasler and Carrie Peyton
Bee Staff Writers
(Published Sept. 21, 2001)

In a controversial attempt to dig its way out of bankruptcy, Pacific Gas and Electric Co. proposed a radical restructuring Thursday that would pay off its debts but end state regulation of the utility's valuable hydroelectric and nuclear plants.
To make the plan work, PG&E asked a U.S. bankruptcy judge to override state laws and regulations governing power-plant ownership -- a request that triggered immediate opposition from California officials.

PG&E said the plan, a complicated blend of asset transfers, debt refinancing and corporate spinoffs, would restore the utility's financial health and creditworthiness without requiring additional rate hikes or a state "bailout." Divorcing the utility from its parent company, the plan would pay off the entire $13.2 billion of debt PG&E accumulated during California's poorly executed era of deregulation.

The plan, filed in U.S. Bankruptcy Court in San Francisco, had the support of a key block of creditors, including independent energy generators, whose approval is necessary to any reorganization plan.

But it ran into immediate opposition from Gov. Gray Davis and other state officials, setting up a potentially fierce battle. Despite PG&E's claims to the contrary, they warned the plan could trigger more hikes because PG&E could charge nearly double the amount it currently charges for electricity from the hydro and nuclear plants. The proposal would have the state Public Utilities Commission relinquish control over those plants to the Federal Energy Regulatory Commission.

FERC "has proven over the last 18 months to be ... no friend of the ratepayer," Davis told reporters Thursday. "The PUC, while far from perfect, has been a stronger advocate for ratepayers than the Federal Energy Regulatory Commission. ... I'm very wary of PG&E's proposal to transfer all of its generating capacity from a regulated environment to a non-regulated environment."

Proposed PG&E reorganization
PG&E wants to:

 Split the parent company, PG&E Corp., and a scaled-down utility into two unrelated companies.

 Override state law in order to transfer state-regulated power plants to the unregulated PG&E Corp.

 Sell power from those plants to the regulated utility for 12 years for well over currently permitted rates. After 12 years, have the ability to charge market rates.

 Give shareholders of PG&E Corp. stock in the utility company.

PG&E pledges it would:

 Repay all its debts -- about $13.2 billion.

 Retain all employees.

 Get out of bankruptcy by December 2002.

 Avoid rate increases.

The PUC vowed to fight the plan in court. "I don't think the judge is going to do it," said PUC President Loretta Lynch.

Consumer advocates noted that PG&E has been pushing for years to end state regulation of its hydro plants. "It's complete piracy," said Nettie Hoge, head of The Utility Reform Network of San Francisco. "It's the most audacious thing I've ever seen."

Filed six months after the utility sought bankruptcy protection, the plan calls for PG&E to be spun off from PG&E Corp., but the utility would transfer its hydro and nuclear plants and some other assets to the parent.

That would violate a state law, passed as a response to the energy crisis, prohibiting utilities from selling any of their generating plants before 2006. The law was intended to keep electricity in California hands at a time when out-of-state generators were charging ultra-high prices to PG&E and Southern California Edison.

PG&E acknowledged the conflict with state law but said it will ask the bankruptcy court -- a federal entity -- to override the state law. Legal experts said it's not clear whether a bankruptcy judge would ignore state law, and in prior rulings U.S. Bankruptcy Judge Dennis Montali has sided with state officials.

"Any federal court would be very reluctant to go in and override state laws," said influential state Sen. Debra Bowen, D-Marina del Rey, chair of the Senate Energy Committee.

Robert D. Glynn Jr., PG&E's chairman, called the transfer a good deal for customers. He said the electricity from those plants would be sold back to the utility at about $50 a megawatt hour -- "the lower end" of current rates -- under a 12-year contract.

But that's almost double the existing rates for those plants, critics said.

And Gary Cohen, the PUC's general counsel, said the company would be free to charge market rates when the contract runs out, putting utility customers at the mercy of an independent, unregulated generator.

"This is more of what got us into this mess to begin with," Cohen said.

Despite the friction between PG&E and the state, the plan requires assurance from the PUC that the utility will be allowed to collect its wholesale power costs in the future from ratepayers, regardless of how high they go. Such assurance will make the utility creditworthy again and able to borrow money to fund the reorganization, PG&E said.

The plan also requires approval from federal officials and a "yes" vote from a majority of PG&E's creditors, along with Montali.

Glynn said the plan could be completed by December 2002, enabling the utility to resume buying electricity. The state has been buying power for PG&E since January, when it became insolvent.

While the PUC raised rates an average of 40 percent this year, the reorganization plan doesn't require another rate hike, Glynn insisted. "From the customers' view, this transaction will be seamless," he said. The same should be true for most employees, he said.

The PG&E chairman, whose company has feuded with Davis for months, also boasted that PG&E isn't "asking the state for a bailout or a rescue" -- a jab at Davis' as-yet-unsuccessful effort to sell the Legislature on a multibillion-dollar rescue for Edison.

It's unclear what impact PG&E's proposal would have on Edison's attempt to avoid bankruptcy. Edison's creditors, already angered that the Legislature adjourned without passing the Davis-backed plan, might conclude that Edison is better off in bankruptcy and could push the Southern California utility into court, analysts said.

The PG&E proposal involves a complicated series of property transfers and bond offerings that would leave the current PG&E Corp. split into two separate, publicly-traded companies.

The utility company, Pacific Gas and Electric, would become strictly a retailer and would sell other assets -- including its hydro and nuclear plants, transmission wires and gas pipelines -- to PG&E Corp. for $4.06 billion in cash and IOUs. PG&E Corp. shareholders would receive stock in the slimmed-down utility, although the details of the stock transaction haven't been worked out.

The bankruptcy proposal represents the fourth time in three years that PG&E has tried to remove its hydro plants from state control. The PUC and Legislature have resisted because of potential impacts on costs and the environment.

Despite the criticism, PG&E said removing those assets from regulators' oversight is essential to making the plan work. Why? Because PUC rules limit how much money the utility can borrow against those assets, said utility spokesman Ron Low. If the assets became property of PG&E Corp., the corporation could borrow a lot more money and use the proceeds to pay its debts. Glynn said he's had "in-depth discussions" with investment bankers about issuing new bonds.

Also, by removing the generating plants from PUC oversight, the plan can produce more cash for debt repayment, said credit analyst David Bodek of Standard & Poor's Corp. in New York.

If state officials fight the plan, "the question arises, 'How do you discharge these (debts)?' " Bodek said. "Here's a plan that does that."

The plan would pay creditors $9.1 billion in cash and $4.1 billion in bonds. Creditors with debts of more than $100,000 would get 60 percent in cash and 40 percent in bonds, which will be paid in 10 or more years, said Paul Aronzon, attorney for a committee of unsecured creditors.

"There's some credibility here, and it works," Aronzon said of the plan.

Gary Ackerman, a spokesman for independent generators, said his group would probably accept the plan, even if it means they have to wait years to get some of their money.

Shareholders also endorsed the plan. PG&E Corp.'s stock jumped $1.22, to $15.72, on a day when the markets took another bad fall.


Gowans J 205-2705
Gowans J 244-0585
McBride T 346-8710


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sounds good to me.

 -----Original Message-----
From: 	Jai Hawker <JHawker@petersco.com>@ENRON
Sent:	Friday, November 30, 2001 7:54 AM
To:	Richey, Cooper
Subject:	FW: Happy Thursday

What do you think about this?

-----Original Message-----
From: Sarah Wells Elford [mailto:littlewing97@hotmail.com]
Sent: Thursday, November 29, 2001 10:14 PM
To: JHawker@petersco.com
Subject: RE: Happy Thursday

hEY jAI...IF YOU FEEL LIKE GOING OUT ON SAT. NIGHT, A FEW OF US ARE GOING TO

MEET UP AT MY FRIEND tHEA'S PLACE IN kENSINGTON,  THEN HEAD OVER to Tanya's
(George's friend?!) for a Christmas party. After that, maybe the bar. Steph
& I are hoping to go riding on Sunday. Gotta love the Caps lock. Have a
great Fryday...sar

>From: Jai Hawker <JHawker@petersco.com>
>To: 'Sarah Wells Elford' <littlewing97@hotmail.com>
>Subject: RE: Happy Thursday
>Date: Mon, 26 Nov 2001 07:36:57 -0700
>
>Sarah,
>This weekend was pretty boring.  As is every weekend in the 'burbs.  Friday
>I got really baked with a couple of friends and watched the U2 concert that
>was on TV (the place I'm house-sitting has about a billion channels -
>satellite TV).  We also watched a Billy Idol Storytellers special that was
>also fantastic.  I love that guy.  Saturday I just stayed in all night.
>However, I'm now out of the 'burbs.  I couldn't stand it anymore, and my
>friend and I who are looking for a place probably won't be able to move
>into
>a place until Jan 1.  So I moved in to my mom's place downtown.  It's
>really
>convenient.  It's a big house with just her living there and I have the
>basement to myself.  It will have to do for now.  How was your weekend?
>Did
>you get up to Lake Louise?  I hear you are teaching delinquent
>kids...sounds
>like a ball of laughs.  Let me know how things are going.
>
>-----Original Message-----
>From: Sarah Wells Elford [mailto:littlewing97@hotmail.com]
>Sent: Thursday, November 22, 2001 3:35 PM
>To: JHawker@petersco.com
>Subject: Happy Thursday
>
>
>Hey Jai...only 1 more day until the weekend. Yehaa. This week has felt
>long.
>
>Last weekend was fun. I was sorry to miss out on the black & white, but we
>had a great night at a friends house party. Lots of people. A DJ and a fire
>going in the back yard. There was a group of us & things got a little
>messy.
>
>We ended up getting kicked out at 3 in the morning. A long story that I'll
>have to tell you some time. IT was actually pretty funny.
>    I'm not sure what my plans are this weekend. I'm planning on going to
>lake louise on Sat or Sunday. My roomate Steph & I might stay Sat. night in
>Banff visiting a friend if we can get out there.
>But we should hook up and get you out of the burbs. Give me a call
>228-3936.
>
>                   sunshine daydreams,   sar
>
>
>_________________________________________________________________
>Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp
>

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


Following please find the Daily EnronOnline Executive Summary.


---------------------- Forwarded by Scott Neal/HOU/ECT on 09/20/2000 09:15 AM
---------------------------

Edward Terry
09/08/2000 09:55 AM
To: Susan W Pereira/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Andrea
Ring/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT
cc:
Subject: ENA Adjustment at Nville

FYI,

Per the memo, ENA's storage account will be REDUCED by 420,588 mmbtu!!!!!!

---------------------- Forwarded by Edward Terry/HOU/ECT on 09/08/2000 09:52
AM ---------------------------

Robert D Morgan
09/08/2000 09:36 AM
To: Harold Bertram/HOU/ECT@ECT
cc: Randall Curry/Corp/Enron@ENRON, Hugh Connett/Corp/Enron@ENRON, Robert
Shiring/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Anita K Patton/HOU/ECT@ECT
Subject: ENA Adjustment at Nville

The results of the February 26th PVT test conducted on Nville have been
discussed with each of you over the last three months.  As we have
discussed....effective Sep 13th,  Anita will make the adjustments to Enron's
inventory and pad gas to reflect the February 26th results.

I talked with Gary Wilson, and he confirmed that the revised values are
correct.  Attached is a spreadsheet that contains the values.

The correction to the working gas includes TWO corrections.  The results of
the February 26th test reduces the working gas by 398,487MMBTU.  In addition,
there is a reduction of 22,101MMBTU which is the difference between the SCADA
values (Best Available) that Anita showed on the February 29th Storage Sheet
and the "official" February 29th values that Gary Wilson received from MIPS.

To summarize:
 Enron's pad gas will now be 3,993,310MMBTU, instead of 4,223,000MMBTU.
 Enron's working gas will be reduced by 420,588MMBTU.

Call me if there are any questions.


How about 11:00 on Tuesday ?  I have placed this on my  counsel's calendar.

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


Jeff, FYI. This is from Bill Urquhart, the lead litigation partner at the California law firm that is representing us in the Los Angeles litigation.  Jim

 -----Original Message-----
From: 	"A William Urquhart" <awu@quinnemanuel.com>@ENRON [mailto:IMCEANOTES-+22A+20William+20Urquhart+22+20+3Cawu+40quinnemanuel+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, March 15, 2001 1:06 PM
To:	Derrick Jr., James
Cc:	msmith1@enron.com; Sanders, Richard; Williams, Robert C.; Vsharp@enron.com
Subject:	Teamwork

Hi Jim--

The last month or so have been so hectic I have barely had time to breath.  We have gone from fire to fire.  Over the last 24 hours (since we submitted our last hurry up brief) I have been reflecting on the experience.  To say it has been positive is an understatement.

Under ordinary circumstances working under such continual pressure--with so much $ on the line--would have been stressful.  However, when you work with Enron the opposite is true.  There is such a sense of esprit d' corp that permeates your organization.  It makes difficult things easy and the impossible, just another day in the office.

There are no egos to trip over at Enron.  When there is a problem to solve, it is everyone's problem.  People are not afraid of asking questions.  They keep questioning until they understand.  Nobody minds repeating themselves.  They are incredibly patient with outside lawyers--spending hours and hours bringing us up to speed.  As you well know, yours is not a simple business.  It is so refreshing.

There are so many benefits to this team approach.

1.  You get things right the first time.  As you know, in any litigation is critical that the court view your side as the teller of truth.  Because you get things right the first time,  the company is not exposed to being discredited when the other side responds.

2.  I would bet that Enron's outside legal bills are half what they would be otherwise.  With most companies the outside (and inside) lawyers get a minimum of support from the business people.  The business people view business as business and lawsuits as an annoyance.  (I should say that I could never understand that given the direct  Perhaps it is the trader mentality at the company.  Perhaps it is an unwavering focus on the bottom line.  Perhaps it is just that everyone feels they are a part of a team and they realize that by working together the team can achieve things that no one person can do working alone.  Whatever the reason, the outside lawyer's job is made so much easier.  That results in much, much lower legal bills.

3. You increase your chances of winning.  The brainstorming is so valuable.

4. The outside lawyers, like me, feel they are part of the team.  Outside lawyers do not feel as if they are on trial.  They can ask the dumb questions.  I know that all of us here are looking forward to the next opportunity to work with the Enron team.

5.  Human nature being what it is--I think that when there are choices to be made as to whose work goes on the top of the pile--the Enron assignment goes to the top more often than not.

You have built a great legal team.  All of your legal staff should be proud of what they have built.

Thanks for letting us come along for the ride.

Regards,

Bill

A. William Urquhart
Quinn Emanuel Urquhart Oliver & Hedges LLP
865 South Figueroa Street, 10th Floor
Los Angeles, CA  90017
Tel:  (213) 624-7707
Fax:  (213) 624-0643
E-Mail:  awu@quinnemanuel.com
Web:  http://www.quinnemanuel.com


Tana:

No change to Aquila's profile for US physical power.

Leslie


Reminder:

The regular September National Charity League
Patroness meeting will be held Monday, September 18,
2000, 7:30 p.m., at Cypress Creek Christian Church
Community Center.

__________________________________________________
Do You Yahoo!?
Yahoo! Mail - Free email you can access from anywhere!
http://mail.yahoo.com/


----- Forwarded by Richard B Sanders/HOU/ECT on 08/24/2000 01:32 PM -----

	Eric Thode@ENRON
	08/23/2000 11:57 AM

		 To: Dan Lyons/HOU/ECT@ECT
		 cc: Randal Maffett/HOU/ECT@ECT, Randy Petersen/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 Subject: RE:kafus

I certainly have no problem with that decision.  Thanks.

Eric

Dan Lyons@ECT
08/23/2000 11:40 AM
To: Randal Maffett/HOU/ECT@ECT
cc: Eric Thode/Corp/Enron@ENRON, Randy Petersen/HOU/ECT@ECT, Raymond
Bowen/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT

Subject: RE:kafus

I vote we don't reply at all

	Randal Maffett
	08/22/2000 09:03 AM

		 To: Eric Thode/Corp/Enron@ENRON
		 cc: Dan Lyons/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Randy
Petersen/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT
		 Subject: RE:kafus

I would forward to Legal and review before we sent any response.

RANDY
---------------------- Forwarded by Randal Maffett/HOU/ECT on 08/22/2000
09:02 AM ---------------------------

Eric Thode@ENRON
08/22/2000 07:33 AM
To: Randy Petersen/HOU/ECT@ECT, Randal Maffett/HOU/ECT@ECT
cc:
Subject: RE:kafus

Any thoughts on how to respond?  This came in via our web site.  Please
advise.

Thanks.

Eric

---------------------- Forwarded by Eric Thode/Corp/Enron on 08/22/2000 07:33
AM ---------------------------
From: Cindy Derecskey on 08/21/2000 08:45 AM
To: Eric Thode/Corp/Enron@ENRON
cc:

Subject: kafus

Please respond.

----- Forwarded by Cindy Derecskey/Corp/Enron on 08/21/2000 08:44 AM -----

	w g wettleson <wgw@sprintmail.com>
	08/18/2000 09:24 PM

		 To: public-relations@enron.com
		 cc:
		 Subject: kafus

dont think for a moment your attempt to get kafus for pennies on the
dollar from under its shareholders will go unnoticed - i for one would
love to explain how it went from a shareholders view on a website. that
was my retirement money your messing with.


David

This is the equipment for the proposed interconnect. The Enron "e"nternet is down at this time and I will e-mail your the Engineering Standards when it is running. Jim Williams will be here this PM and I will give him a typical I/C package drawing and Material list set that you can review. This is a typical set and for your proposed I/C, a few modifications to package would be required but it is 80% of what is used at most I/C.

You can develop a cost estimate from this package with your modifications.

If any questions or if I can be of assistance, please contact me.

Earl Chanley
505-625-8031

 -----Original Message-----
From: 	Chanley, Earl
Sent:	Monday, September 10, 2001 7:20 AM
To:	Abdmoulaie, Mansoor
Subject:	Atoka Cost

Mansoor

The I/C is a 10" UltraSonic designed for a range of 35 mmcfd to +100 mmcfd.
By using the US meter, this allows a wide range of volumes without changing out the tube when Agave want to increase the volumes.

I/C to include
US meter
H2S
H2O
Chromatograph
Flow control
Positive Shut in
EFM
DAS
UPS
Building
GFC
Material cost =

Install cost (contractor, inspection, Dlab, Eng, Proj. man) =

Contingency =

OH, AFUDC, =


For those of you trying to keep track of the exhibit lists in this case, here
is the most recent update of the exhibit list for the Comprehensive
Settlement Agreement.? For those preparing rebuttal, please identify your
testimony as such for consistency purposes.? John Burkholder, who was
originally identified as filing exhibit 19, will not be filing rebuttal.?
Eric Nelson, who will be rebutting the testimony of Powerspring, will file as
exhibit 19.

FILED EXHIBITS
Exhibit 1?? Comprehensive Settlement Document??
Exhibit 2?? Lad Lorenz Testimony
Exhibit 3?? Eric Nelson Testimony
Exhibit 4?? Mark Pocta Testimony
Exhibit 5?? Tom Beach Testimony
Exhibit 6?? Jeff Dasovich Testimony
Exhibit 7?? Rick Counihan Testimony
Exhibit 8?? John Burkholder Testimony
Exhibit 9?? Paul Amirault Testimony
Exhibit 10? Jeanne Zaiontz Testimony
Exhibit 11? Paul McKelvey Testimony
Exhibit 12? Jeff Fawcett Testimony
Exhibit 13? Errata to Comprehensive Settlement Document

NEW EXHIBITS
Exhibit 14? Rebuttal Testimony of Lad Lorenz
Exhibit 15? Rebuttal Testimony of Jeff Dasovich
Exhibit 16? Rebuttal Testimony of Paul Amirault
Exhibit 17? Rebuttal Testimony of Jeff Fawcett
Exhibit 18? Rebuttal Testimony of Tom Beach
Exhibit 19? Rebuttal Testimony of Eric Nelson
Exhibit 20? Rebuttal Testimony of Rick Counihan


Joe:
Here is the letter agreement that we have agreed to.  Please coordinate with
your counterpart at Sempra to have and future ones  executed.
Carol


Miguel,
Given where things are, I think it is imperative that we begin to think of a "contingency" plan for Procaribe.  I want us to do several analysis that will allow us to better understand what are the financial results of a variety of potential commercial decisions/strategies.  So, here is what I would like to see done asap:

-	A revised 2002-2004 analysis (both earnings and cash) that assumes NO PDVSA transaction and that volumes for us remain what they have been all along (i.e., assumes that Progasco's volumes stay in at the old margins).
-	A revised 2002-2004 analysis (both earnings and cash) that assumes NO PDVSA  transaction and that the volumes of Progasco remain BUT ONLY at MB plus 9.5 margin.
-	A revised 2002-2004 analysis (both earnings and cash) that assumes NO PDVSA transaction and NO Progasco volumes.
-	I assume we are pretty comfortable with the other volumes; i.e., in our ability to keep them so I'm not asking for a sensitivity on those.

Please advise when this analysis can be ready and when we can begin to discuss potential commercial alternatives to the PDVSA transaction/giving in to Humberto's demand of MB plus 9.5.

Thanks, Mariella

 -----Original Message-----
From: 	Maltes, Miguel
Sent:	Thursday, September 06, 2001 10:31 AM
To:	Tortolero, Elio
Cc:	Mahan, Mariella; Y'Barbo, Paul; Clapp, Suzanne B.; William Mauco@Enron
Subject:	Ram?n Gonz?lez Throughput Meeting

The meeting with Mr. Ram?n Gonz?lez, president of Empire Gas Company went as follows:

?	A written offer of $0.04 cpg for the throughput and the terminals value added strengths was handed to Mr. Gonz?lez.  It also mentioned that such agreement was to be supported with a contract covering all the legal aspects of such throughput.  Mr. Gonz?lez mentioned that the $0.04 cpg was an offer somewhat high but he was going to consider it along with PDVSA's next year price offer.  He thinks that PDVSA's FOB price should be MB flat and that Enron should have the capability of getting a better price for a vessel so that the landed price is somewhat cheaper than that of using PDVA's vessels.  He also said that effective November 1, 2001 all of Puerto Rico volume except for San Juan Gas will belong to him. (Mr. Humberto Berrios Tropigas / Progas) assures us that he has not  close any deals with Empire and that he is waiting for an offer from ProCaribe for November / December and hopes that we can offer him a MB + 9.50 and is also waiting for our year 2002 offer.

?	Mr. Gonz?lez considers PDVSA's next year prices as too high and that another alternative should be looked to see if prices are better (this is a tactic he uses to show PDVSA the new price so that PDVSA lowers their price to him).  He said that he does not trust the Phoenix Park Group (Trinidad & Tobago) at all.  Plus he knows that all of their volume is committed to their customers.  He is concerned with the way the Venezuela Government has been behaving lately and he thinks President Chavez is a communists.  He is concerned with future business deals that a sudden change in Government (towards the left) might bring.  He also said that PDVSA still is his best option as it has been for the last fifteen years.

?	He asked us if ProCaribe was for sale and that he will like to be considered as a future buyer.  He asked us to please inform of his petition.

The meeting went very well and cordial.  We consider it as a good starting point.  We think that the next step to follow is for William Mauc? to push PDVSA to pursue this deal.  Our next meeting with Mr. Gonz?lez should include the group so he can see Enron commitment to this throughput proposal.

Saludos