Note:  There will be a briefing meeting on the project in Denver on Nov. 14

N. Border Plans Extension to Tap Powder River Basin

Powder River Basin gas producers may be about to get a more direct route to
Midwest markets. Northern Border Pipeline has released plans to build a new
325-mile greenfield pipeline from McCabe, MT, to Gillette, WY, to tap the
rapidly growing production in the Powder River, which is estimated to hold
between 10 and 30 Tcf of gas.

The basin's rapid production growth has captured the attention of the
industry, with numerous proposed pipelines, including several new interstate
plans that would bring gas to the Midcontinent gas grid. Northern Border's
project, called the Bison Pipeline, would add a new route out of the basin
for between 375,000 and 500,000 MMBtu/d of production starting in November
2003. The pipeline is holding an open season on the proposal through Dec. 5.

Receipt points are proposed with Bighorn, Fort Union Gas Gathering, MIGC and
Thunder Creek Gas Services. A bi-directional interconnect accessing Williston
Basin Interstate Pipeline's Baker storage field also is proposed.

The connection with Northern Border will provide Powder River producers with
direct access to several local distribution companies, including
Montana-Dakota, Alliant Interstate Power, MidAmerican Energy, Nicor Gas,
People Gas and Nipsco. It also provides access to ANR Pipeline, Midwestern,
NGPL, Northern and Vector.

The projected recourse rate is 26 cents/Dth/d, but a negotiated 10-year
demand rate cuts 4 cents off that. The pipeline is offering
"mileage-sensitive rates," which are expected to allow a shipper to tailor
supply access and optimize transportation value.

Northern Border plans to hold a briefing on the project in Denver on Nov. 14.
For more information, contact project director Paul Miller in Omaha, NB, at
(402) 398-7758 or James Hoff in Denver at (303) 575-6475, or see the
pipeline's Web site at www.northernborderpartners.com.


In case you haven't already seen this...

Mark
----- Forwarded by Mark Palmer/Corp/Enron on 12/12/2000 10:13 AM -----

	"Leopold, Jason" <Jason.Leopold@dowjones.com>
	12/11/2000 08:31 PM

		 To: "'mark.palmer@enron.com'" <mark.palmer@enron.com>
		 cc:
		 Subject: FW: CalPX Emergency FERC Filing

 - 2862-Emergency Filing.doc


UC Berkeley Entrepreneurs Forum
Thursday, August 30, 2001
6:30 PM
Haas School of Business
Arthur Andersen Auditorium
__________________________________________________________________

Topic:          "What's the Frequency Kenneth?"
Speaker:        A Panel presentation featuring: Peter Buhl Partner, Nokia Ventures; Cliff Higgerson Partner,     ComVentures; Patrick Lilley CEO, Digital Transit; Amit Nagpal Sr. Consultant, Analysys Group; Greg Shirai Director, Handheld Products Handspring.  Moderated by Keval Desai Associate, Onset Ventures.

"Wireless is the next big thing--in five years it will be ubiquitous."  This quote has been repeated every five years for the last fifty years.  Are we finally there yet?  We invite you to this year's inaugural UC Berkeley Entrepreneurs Forum where we will look forward to a stimulating discussion covering the current status of the worldwide wireless business environment, as well as best practices learned from decades of starting, growing, and investing in businesses that rely on mobile technology, and trends for their success.  Our panel of experts brings multiple decades of experience in private and public companies that have tried to develop successful business models in the wireless world."

Registration: There are special rates for faculty and staff. Faculty and staff are encouraged to pre-register by E-mail.

Note registration procedure for students:
a) in person with cash or check in room F450, weekdays 9-11:30AM and 12:30 - 4PM.
b) with Mc/Visa over the phone, please call (510) 642 4255

The fee for pre- registration is $5. There will be a $10 registration fee at the door. Note: On-site registration is subject to space available.
Special: season tickets are available for students: August-November programs for $20.  Season ticket forms are available on the bulletin board outside Room F450.  Payable by cash, check or MC/Visa.
Pre- registration for students and staff closes at 4PM on Tuesday, August 28 or earlier if it is sold out.

Information:
For more information on the series, please visit our Website at
<http://www.haas.berkeley.edu/lester/bef.html>
If you wish to read more about this particular event, please go to
<http://www.haas.berkeley.edu/lester/aug01.html>


The correct effective date for the shipper list & Email lists is as of 01/13/02.

DL

Dennis P. Lee
ETS
Gas Logistics
(713) 853-1715
dennis.lee@enron.com


Gary good talking to you today.  As discussed the following is a list of
staff that need to changed on your OASIS site.  As discussed please Email the
user names and passwords for the new accounts directly to the users indicated
below.

Please remove the following users from your site.

Morse
Webb
Hickle
Halmark
Burger
Haile
Zarritta
Norman

Please add the following users to your site.

Miguel Garcia  miguel.l.garcia@enron.com  (713) 853-5458
Rudy Acevedo  rudy.acevedo@enron.com  (713) 853-7171
Juan Hernandez juan.hernandez@enron.com  (713) 853-0383
Gretchen Lotz  gretchen.lotz@enron.com  (713) 853-6261
Maria Valdes  maria.valdes@enron.com  (713) 853-6350
Smith Day  smith.l.day@enron.com   (713) 853-4201

Thanks


Thanks so much for the invite,  I would love to go however I have plans.

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


Mcnabb and Freeman for Bruce


The Enron Center garage will be opening very soon.

Employees who work for business units that are scheduled to move to the new
building and currently park in the Allen Center or Met garages are being
offered a parking space in the new Enron Center garage.

This is the only offer you will receive during the initial migration to the
new garage. Spaces will be filled on a first come first served basis. The
cost for the new garage will be the same as Allen Center garage which is
currently $165.00 per month, less the company subsidy, leaving a monthly
employee cost of $94.00.

If you choose not to accept this offer at this time, you may add your name to
the Enron Center garage waiting list at a later day and offers will be made
as spaces become available.

The Saturn Ring  that connects the garage and both buildings will not be
opened until summer 2001. All initial parkers will have to use the street
level entrance to Enron Center North until Saturn Ring access is available.
Garage stairways next to the elevator lobbies at each floor may be used as an
exit in the event of elevator trouble.

If you are interested in accepting this offer, please reply via email to
Parking and Transportation as soon as you reach a decision. Following your
email, arrangements will be made for you to turn in your old parking card and
receive a parking transponder along with a new information packet for the new
garage.

The Parking and Transportation desk may be reached via email at Parking and
Transportation/Corp/Enron or 713-853-7060  with any questions.

(You must enter & exit on Clay St. the first two weeks, also pedestrians,
will have to use the garage stairwell located on the corner of Bell & Smith.)


Hi Pete,

There's been a Plan B developed on the LV Co Gen project.  We are seriously
exploring the possibility of selling the current LV Co Gen turbines to a
third party, by selling the equity in a project co which acquires the
turbines.  Sound familiar?  Yes, it is CA Development III, only it is called
Salmon somethingorother llc.

I anticipate that the most recent version of the LV Co Gen contract will need
to be adapted to the CA form - no E Next Generation or ENA as agent.  I
believe Dale has been working on some tweaks to the form you last worked on
for LV Co Gen, and I assume these tweaks belong in the "new" Salmon
contract.  I will forward you the most current form that I've seen, and Dale
can protest if he thinks this is the wrong one to work with.  Carlos Sole  is
the lawyer in Houston who will be herding these cats.  His number is 713 345
8191.

I will be out of the office next week, but will periodically check my voice
mail if  you have any questions.

Thanks,

Kay


fyi
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/15/2000 10:20
AM ---------------------------

Kay Mann
12/15/2000 10:20 AM
To: Scott Laidlaw/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: westinghouse 501D5A gtg, with damaged generator - outside
counsel

Scott,

I'm handling outside counsel, and spoke with him this week.  I'm prepared to
give legal advice on the issue.

Scott Laidlaw@ENRON_DEVELOPMENT
12/15/2000 10:00 AM
To: Kay Mann@ENRON
cc: Chris Booth@ENRON, Dan Shultz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ben F
Jacoby@ECT

Subject: westinghouse 501D5A gtg, with damaged generator - outside counsel

plz provide name, address, phone number of outside counsel.  i'd like to set
up a meeting for early next week between scott, chris, kay, and outside
counsel to outline the issues and establish the framework for an expedited
legal opinion on enron's position.  plz advise.  thanx.  scott.


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	'kensey' has removed GDW (Doink) at Oct 23 2001  7:15AM
	Golden West Finl (NYSE:GDW)   Symbol  Last  Time  Change  High  Low  Volume  GDW   48.80   4:03PM  -0.02  49.55  48.40  1,212,000  Community Take   7 Long / 5 Short

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	 Tue Oct 23 07:08:43 2001   london location has connectivity.  see a cord, plug it in.   take profits short GDW.  breach of the low end of the trading range at 52 suggests a possible move to 44 (distance of the width of the busted range from low end of the busted range).   see chart for details.  lines are drawn in.   take profits here.  good place to re-enter short is on a test of chart resistance in 52-54 range.   recommended GDW Short on Oct 1 2001 when it was trading at 58. Since then it's gone down 16.02% to 48.   kensey
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Daren,

We have received revised nominations from Prize Energy Resources, L.P. for
June, 2000.  The revisions are as follows:

Meter #  Original Volume  Revised Volume

5579  2,209   2,536
6534  1,906   1,123
6614  2,215   2,128

Do you want me to enter the revised volumes?  Please advise.  Thanks.

Bob


WOuld you double check my NYMX position.  I bought another 10,000 day of June
at 4.255 after 4:00 PM yesterday.  That purchase does not show up in this
mornings report.j


not to worry- we won't be cutting your budget. lets discuss when you get
back. rick


Marie:

I received your e-mail re the revisions to the Master Netting Agreement.  I will not be in the office later this afternoon and want to make sure that Dede Russo at Reliant receives a first draft today.  Thus, when you distribute the revised draft to the working group, will you also e-mail a copy of the draft with the Collateral Annex to Dede at "drusso@reliantenergy.com".  Note on the e-mail that you are sending the draft pursuant to my request and let her know that I am working to customize with credit terms, etc. for Reliant.

Jay Williams in credit is going to work with me on the Reliant Master Netting Agreement.  I have asked Jay to send to you a list of all the Reliant entities and a list of trading contracts as soon as possible.  Please have these contracts compiled for me.  Feel free to contact Martha Keesler, my assistant, to the extent she can assist you or your designee in pulling contracts off of LiveLink.  I will not be in the office on Wednesday, so I would love to have copies of all the Reliant documents for Thursday morning.

Thanks so much,

Leslie

 -----Original Message-----
From: 	Hansen, Leslie
Sent:	Tuesday, October 30, 2001 11:57 AM
To:	Rohauer, Tanya
Subject:	Reliant Master Netting Agreement

Tanya:

As per my voice mail, I will be working on the Master Netting Agreement with Reliant.  In connection with this project, I need the following from the credit group:

1. a list of the Reliant entities with whom Enron trades as well as a list of all relevant contracts
2. state of incorporation and chief executive office for each of the Reliant entities
3. credit terms for the Collateral Annex
4. copies of all existing guaranties and feedback from you re how such guaranties should be handled in connection with the Master Netting Agreement.

Thanks so much.

Leslie Hansen


You are invited to join them for lunch.
1:00 - 2:00


I have forwarded to you via one of our assistants a copy of the standard
Timber Harvesting Agreement that has been offered to me by Southern
Timbergrowers, our chosen contractor, for work that we desire to begin
immediately.

Assuming that HPL has some type of pro forma agreement that would better fit
this situation, I tried to mark-up their agreement indicating some of the
features at a minimum that we would desire from this business arrangement.

Please could one of you (Gerald is receiving the walk-up copy) get back with
me with some type of draft agreement within the next few days that I can take
to ST in order that we may begin the evaluations that we have before us?  I
would very much appreciate your attention to this.

Thanks!

Candy


id:  mt17244
pass:  1999

Michael Taylor
Coal and Emissions Trading
Enron Global Markets
(713) 853-1885


FYI Folks-

The Kern River expansion that we backed out of (the 15 year stuff) is going to be 900,000 MMBtu/d.  As you can see a large number of the shippers stayed in the process, and are now bound to the pipe if it gets built!!

There will be a press release on this tomorrow...

Julie  :-)


Shona,

Thanks for your task force summary.

Below is what I have already produced here from the London perspective.

Should we not be looking to get more detail of exactly the reasons were
especially for human errors and highlight those areas where the problems
arise rather than grouping things together and in so doing losing the detail
? Also we should try to get some trend information so that it is clear where
we are improving (or not as the case may be) on both a general and specific
book basis.

James
---------------------- Forwarded by James New/LON/ECT on 10/11/2000 12:43
---------------------------

James New
09/11/2000 16:25
To: Debbie R Brackett/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Fernley
Dyson/LON/ECT@ECT, Mike Jordan/LON/ECT@ECT, David Port/Market
Risk/Corp/Enron@ENRON

Subject: Report on London Middle Office RiskTrac Performance

Debbie,

Using the data you kindly sent me I had one of my guys extract the
performance issues from a London stand point and specifically look into the
incidence of human errors  as those we can 'influence' immediately.

I am glad to say that the human error rate is very low and over this
(approximate) 30 business day period and in fact there were only 5 human
errors on around 120 officialised DPRs.

London IT are also going to analyse the data to try to pinpoint trends in
their area.

Please let me know if this is informative.

Regards James


Lou,
Per your request here are the appropriate coding strings for you and those that you would like to have access for aggregating costs associated with perfecting the ROW and associated professional costs.
I hope this is what you are looking for, if I can be of further assistance please advise.
Tim

Project Definition    C.015000  - Northern Natural Gas

Coding Information

Cost Element	WBS Element			Description

52501500	C.015000.03.09.50.01		Banking - Outside Services
52507000	C.015000.03.09.50.02		Legal - Outside Services
52507700	C.015000.03.09.50.03		Accounting - Outside Services
52508000	C.015000.03.09.50.04		ROW - Outside Services
52501500	C.015000.03.09.51		Bank Advisory Fees
52004500	C.015000.03.09.52		Other General Expenses

Project Definition    C.015001  - Transwestern Pipeline

Coding Information

Cost Element	WBS Element			Description

 52501500	C.015001.03.09.50.01		Banking - Outside Services
52507000	C.015001.03.09.50.02		Legal - Outside Services
52507700	C.015001.03.09.50.03		Accounting - Outside Services
52508000	C.015001.03.09.50.04		ROW - Outside Services
52501500	C.015001.03.09.51		Bank Advisory Fees
52004500	C.015001.03.09.52		Other General Expenses


In a recent organizational memo, I mentioned what a great time this is to be
at Enron.  I believe that more strongly than ever, given the new markets we
are entering, the enhanced focus of the company on markets and regions around
the world that best fit with our core competencies, and the phenomenal growth
of the company, perhaps best evidenced by the earnings report of the first
quarter.  But, there are challenges as well: California, and its regional and
global implications, and the general market conditions that have brought our
stock price well off its recent highs.  With respect to each of these and
other challenges, there are invariably opportunities: for example, the
enhanced opportunity for the FERC to finish the job of opening wholesale
electricity markets in the context of California; and, in the context of a
lower stock price, a recognition that accelerated growth in earnings will
bring the stock price to new highs in the not too distant future.  One way
that earnings can grow beyond Wall Street expectations is by bringing a bit
more discipline to how all of us spend money at Enron.  We in Government
Affairs can point to many efforts and processes that have been designed to
instill that spending and resource allocation discipline in the last few
years.  We have always done our part, but there is always more that can be
done.

To increase earnings and, correspondingly, the stock price, I recently met
with various Government Affairs group heads to discuss ways Government
Affairs can do things better and more cost effectively.  We looked at group
travel costs, outside services, and other budget items.  Attached for your
review and use is a copy of a new Travel Policy and new Cell Phone Policy,
which I believe, will ensure consistency across the group and deliver cost
savings.  Such travel policies already exist in various regions such as Enron
Europe. (Regional Business Unit travel policies will continue to be applied,
where applicable)

Further, as a result of our review of the budget, we have identified savings
across the North American group in excess of 1.5 million dollars (USD).  This
is in addition to almost 2 million dollars (USD) by which the Enron Europe
Government Affairs budget has been reduced, as well as significant reductions
that have occurred in the South American group. Finally, I have also decided
to create a global government affairs hiring committee, which will evaluate
the need for any proposed hires (new and existing positions).  The purpose of
the committee will be to assess whether the need is valid and, assuming it
is, determine the most effective way to fill the position.  By encompassing a
cross-section of the Government Affairs group globally, it is my hope that we
will arrive at better hiring decisions.  The hiring committee will consist of
Aleck Dadson (Toronto), Sue Nord (Houston), Jim Steffes (Houston), Paul
Dawson (London), Doug Wood (London), Nick O,Day (Tokyo), Sergio Assad (Sao
Paulo), Linda Robertson (Washington) and myself.   The committee will meet on
an as needed basis.

I believe that these changes will allow us all the opportunity to provide
more cost effective and efficient service to the business units we support.
I encourage each of you to review the new policies and provide feedback.

Thank you


I want to run something by you.  It sounds like we have some sort of budget
for Friday night.  I would like to offer everyone the opportunity to bring
someone with them but also explain that we may not be able to pay for it
all.  I guess the reason is I would like to have Kristi come with me, but am
willing to pay for her.  I would like to do the same for everyone else, but
don't want to offend anyone with the possibility that they may have to pay a
little $$.  Let me know what you think.  Thanks.

DG    3-9573


---------------------- Forwarded by Steven J Kean/NA/Enron on 04/10/2001
10:25 AM ---------------------------

Richard Shapiro
04/10/2001 10:10 AM
To: Steven J Kean/NA/Enron@Enron
cc:

Subject: Rick Shapiro Presentation (Updated)

---------------------- Forwarded by Richard Shapiro/NA/Enron on 04/10/2001
10:10 AM ---------------------------

Ginger Dernehl
03/29/2001 04:45 PM
To: Lauren Urquhart/LON/ECT@ECT
cc: Richard Shapiro/NA/Enron@Enron

Subject: Rick Shapiro Presentation (Updated)

Lauren,

Mr. Shapiro has updated his presentation.  Can you make sure that this
version is available to him for Monday's meeting?  Also, will his
presentation be saved on a computer for his use or does he need to have it on
a "CD/diskette"?

Thanks

gngr
713-853-7751


My Dad is getting his new pacemaker on October 17th and should be released
from the hospital on the 18th.  I will be taking those two days off.

Brenda:  Could you please get me a good temp to sit for me on those days and
let me know what form I need to fill out.

Thanks.


I will be traveling on Thursday, January 31 and Friday,
February 1.

I will not be reviewing e-mails.

If you need immediate assistance please contact
Benita Hudson at X3022 and she will direct you
accordingly.

For trade approval please contact the CO according to the
hedge fund client coverage list.

Steve Marotta x4471
Neil Spencer x6277
Sam Azizo x4101
Joanne Gotsis x6254
Thomas Richiger x6414
Carla Krafchik x4522

For VaR & Stress Exposure Reports and queries please contact
Thomas Richiger x6414.

Regards,
Sanjeev


Great Pics. Sorry I couldn't be in'em. Thank God Meredith, Harman got her
genes from her Mom.
-KAI-
Elvis
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Mary:   Unless you hear from me in the next hour, please close 33R and 33Q without making an adjustment for the $104.8 million of tax basis in inventory.   Tom Meyers said that he would see whether or not the cost of inventory has been expensed for book and if not, then he will make an adjustment in Hyperion and we would tax effect his adjustment.   Thanks, John.

 -----Original Message-----
From: 	Fischer, Mary
Sent:	Wednesday, October 10, 2001 10:54 AM
To:	Herrold, Jeff
Cc:	Seade, Jerry; Swafford, John; Eggebrecht, Kurt; Caminos, Facundo
Subject:	RE: SO2 Reclass Entry - Correction

Per my conversation with Eloise Williams the proceeds of $138,475,829 were never recorded on 33R but were recorded on 33Q.  Since this is a sale of inventory I'm assuming that the gain will be ordinary and should be reduced by the tax basis in the credits of $104.8 million.

 -----Original Message-----
From: 	Herrold, Jeff
Sent:	Wednesday, October 10, 2001 9:39 AM
To:	Fischer, Mary
Cc:	Seade, Jerry; Swafford, John; Eggebrecht, Kurt
Subject:	FW: SO2 Reclass Entry - Correction

Mary, I'm not sure what accounting is doing.  The entry below is not complete.  For third quarter close company 33R received proceeds of $138,475,829 for SO2 credits.  The credits are held in inventory on company 33Q, the mark-to-market revenue for the SO2 is reported on 33R.

The attached workbook is my best guess of the tax basis in the credits ($104.8 million); the tax gain should be about $33.7 million.

Can you check with your accounting contacts for company 33R to get a complete picture of the accounting entries?

 << File: so2 inv1.xls >>

 -----Original Message-----
From: 	Williams, Eloise
Sent:	Wednesday, October 10, 2001 8:41 AM
To:	Herrold, Jeff
Cc:	Murphy, Carla
Subject:	FW: SO2 Reclass Entry - Correction

The correct entry is a debit to 19999995 (Cash) and a credit to 45000000 (Revenue)

 -----Original Message-----
From: 	Williams, Eloise
Sent:	Wednesday, October 10, 2001 8:27 AM
To:	Herrold, Jeff
Cc:	Murphy, Carla
Subject:	SO2 Reclass Entry

Jeff,

The SO2 entry was booked to the following accounts:

Debit to 19999995             $138,475,829.50
Credit to 20011000            $138,475,829.50

Eloise Williams
Enron Global Markets
713-345-1667


I agree that we need to add our customer contacts to the list.  This gives
them a great opportunity to look smart -- "we went to the market and got
price protection".

On the messages we need to include Mark's top three:  1) price caps cause
shortages (Rob Bradley: let's put some historical examples together)

Mona L Petrochko
07/18/2000 01:26 PM
To: Jeff Dasovich/SFO/EES@EES
cc: James D Steffes/HOU/EES@EES, Steven J Kean/HOU/EES@EES, Mark Palmer@EES,
Richard Shapiro/HOU/EES@EES, Paul Kaufman@EES, Peggy Mahoney/HOU/EES@EES,
Karen Denne/Corp/Enron@Enron, Jeff Brown/HOU/EES@EES, Susan J
Mara/SFO/EES@EES, Sandra McCubbin/SFO/EES@EES
Subject: Re: Price Cap Media--DRAFT

I have a couple of suggestions on parts of the draft.

Media Action:
In addition to doing behind the scenes editorial board meetings and the like,
I would suggest that we get our coalition lined up and ready to release
statements for certain key events which are likely to occur over the next
several weeks, such as:

1.  SDG&E's selection of the winning bid to their RFP.  Even if Enron isn't
selected as the winning bid, the coalition should trumpet the market-based
solution and the enormous market response to SDG&E's RFP.
2.  The Commission vote on UCAN's Emergency Motion.  We should be prepared to
issue a statement whether the Cmmn votes with us or against us.  With us, the
market can and did provide reasonable, expedient solutions to SDG&E's
customers and protection from price spikes.  Against us, despite the
overwhelming market response, the Cmmn chose to ignore the market solutions
and impose more regulation.
3.  Potential for ARM members to surface a Provider of Last Resort proposal
within the next couple of weeks.
4.  ISO Bd. Mtg-keep up pressure against reducing price caps.

Coalition Members:

Agree that those groups listed should be contacted, although the CMA, CRA,
CIU, CLECA have been luke-warm in their advocacy.

I would add our customers (UC/CSU (especially the San Diego branch), PacTel,
etc.)  NewEnergy has indicated that Kroger/Ralph's grocery stores, San
Diego-based, would give testimonials.  I could solicit the members of ARM to
identify a key customer contacts for interviews.

We could check with our lobbyists and see who they would recommend (wine
growers, dairy industry, etc.)  We should also consider the water agencies
and the rural counties and the City of Pittsburg.  While the immediate
message is responding to San Diego's situation, this latter group of
potential coalition members would go to the larger message (keeping benefits
of competitive markets) from a state-wide perspective.  What about the City
of Pittsburg?

Jeff Dasovich on 07/18/2000 10:07:00 AM
To: James D Steffes/HOU/EES@EES, Steve Kean, Mark Palmer, Richard
Shapiro/HOU/EES@EES, Paul Kaufman@EES, Peggy Mahoney/HOU/EES@EES, Karen
Denne/Corp/Enron@Enron, Jeff Brown/HOU/EES@EES, Mona L Petrochko/SFO/EES@EES,
Susan J Mara/SFO/EES@EES, Sandra McCubbin/SFO/EES@EES
cc:
Subject: Price Cap Media--DRAFT

Here's a draft.  Given sense of urgency, I tried to develop a target for
folks to shoot at rather than The Perfect One-pager.  So please fire at
will.  In particular, need PR to fill in "Media Approaches" and "Key Message
Points."

Best,
Jeff


i am here dog


TECO TAP            40.000/ ENRON
                                   98.750/ HPL IFERC


Here is the last draft confirms we had worked up which need to be completly
redone.
---------------------- Forwarded by Phil DeMoes/Corp/Enron on 11/30/2000
01:27 PM ---------------------------

Dan J Hyvl@ECT
07/20/2000 04:55 PM
To: Phil DeMoes/Corp/Enron@ENRON
cc: Jeffrey T Hodge/HOU/ECT@ECT, David Fairley/HOU/ECT@ECT

Subject: Southern Confirmation Letters

Attached please find a red-line redraft of the Confirmation Letters.  I
understand that Enron will not sign the confirmation letters with Southern
until Enron North America Corp. has finalized its arrangements with the Elba
Island Terminal entity having the gas available at the tailgate of the Elba
Island facility.  Is this correct.  If so, I do not need to make ENA's
contract with such entity a condition precedent to the Southern Confirmation
Letters.  Please advise.


Hey, Stewart:

It looks like Tana has been corresponding with these guys about EOL trading.
Modesto was planning to address the ISDA after working with Tana on the
electronic trading agreement.  By copy of this message, Tana should let you
know if anything recent has happened on the ISDA front.

Let me know if you need anything further.

Regards.  SS

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


1219 Taylor St #24.   Clay and taylor (north west quadrant)

call me if you have any questions
491-5572.

Should I order food for all of us, or just Ted and me?

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Wednesday, November 08, 2000 4:52 PM
To: Jacqueline Kelly
Cc: Kimberely Kupiecki (E-mail); Ted Chin (E-mail)
Subject: RE: FW: MPAR Team Assignment Change

i have no parking.  let's meet at your place.  kim and i can carpool and
take the "legal" spot.  what's the address?

Jacqueline

Kelly                To:     "'Jeff.Dasovich@enron.com'"

<JKelly@FairI        <Jeff.Dasovich@enron.com>, "Ted
Chin (E-mail)"
saac.com>            <tedchin@hotmail.com>, "Kimberely
Kupiecki
(E-mail)"
<kupiecki@haas.berkeley.edu>
11/08/2000           cc:

06:33 PM             Subject:     RE: FW: MPAR Team
Assignment Change

We can also meet at my meager apartment.  Parking is difficult, although,
there is one spot on the sidewalk in front of my house that the
neighborhood
has deemed a legal spot.  Do you have parking Jeff?

Either is fine with me!

-----Original Message-----
From: Jeff.Dasovich@enron.com [mailto:Jeff.Dasovich@enron.com]
Sent: Wednesday, November 08, 2000 4:26 PM
To: Jacqueline Kelly
Subject: Re: FW: MPAR Team Assignment Change

We can meet at my meager apartment if you like.  Around 7?

Jacqueline

Kelly                To:     "Jeff Dasovich (E-mail)"

<JKelly@FairI        <dasovich@haas.berkeley.edu>

saac.com>            cc:

Subject:     FW: MPAR Team
Assignment Change
11/08/2000

01:54 PM

How lame is this e-mail...

(Did you complain about being on my team??)

Where are we meeting tonight?  I think I may have your case study...I have
someone's.

See you tonight,
Jackie

-----Original Message-----
From: Meg St. John [mailto:mstjohn@haas.berkeley.edu]
Sent: Wednesday, November 08, 2000 11:32 AM
To: kelly@haas.berkeley.edu
Subject: MPAR Team Assignment Change

Jackie,

We have changed your team assignment for the Mid Program Academic
Retreat.  You were assigned to Atlantic 5, but that team had more members
than any other and we needed to reshuffle to achieve some parity.

You are now assigned to Atlantic 4.

This means that your Pre-Meeting will occur on Tuesday, and not Wednesday.

Please do not hesitate to contact me with any questions or concerns that
you may have.

Thank you,

Meg St. John
Assistant Director, Evening MBA Program
(510) 527-1406


"The person who goes farthest is generally the one who is willing to do and
dare. The sure-thing boat never gets far from shore." -- Dale Carnegie

ERisk is pleased to announce an iConference on

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Keynote Speaker: Tony Peccia, Vice President of Operational Risk at CIBC

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Tony Peccia, Vice President of Operational Risk at CIBC
Karim Rajwani, Senior Manager of Operational Risk at Royal Bank of Canada

When: Thursday, December 14 at 12 noon EST/5 p.m. London time.

Topics to be covered: the battle between "quantitative" and "qualitative"
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large institution methodologies to smaller institutions, and much more.

Recommended background reading:
The Operational Risk piece in our Risk Jigsaw
You will need to log in to be able to click through to this tutorial, which
features insights from "expert witnesses" (including panelist Marcelo Cruz),
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P.S. The archived slides, polling results, and real-time replays of our
previous iConferences, including our last iConference on compensation for
risk managers, can be accessed here free of charge.

**************************************************************
Your Email:[vkamins@enron.com] is in our eRisks.com mailing list.  If you
wish to unsubscribe from future mailings, please forward this message
to:unsub_oprisk1@email.eRisks.com To subscribe, please forward this message
to  sub_oprisk1@email.eRisks.com [IMAGE]


Thor,

I'm out of town again and will calll you another time.  I plan on bringing
the plan  on my Asia trip which begins on Sat.  Both Jeff and I will read it
then and provide comments.

Thanks,
mike


Is that April 26th?  I am still trying to figure out my itenerary.   I hate traveling from Texas.

Eric Strickland <estrickland@mieco.com> on 04/12/2001 08:44:47 AM
To:	"'Kim.Ward@enron.com'" <Kim.Ward@enron.com>
cc:
Subject:	RE:

i forgot i have a broker from bloomberg in town the same night so if it's
cool with you then dinner is on him.  i'm going to make reservations for 3
at ivy on the shore.....

-----Original Message-----
From: Kim.Ward@enron.com [mailto:Kim.Ward@enron.com]
Sent: Tuesday, April 10, 2001 8:07 AM
To: estrickland@mieco.com
Subject: RE:

What is the next closest airport.  No direct flights from San Jose.  I
think dinner at Ivy on the Shore is in order.  I will tell me boss Barry he
is out of luck and on his own!


I don't see the need to mix franchise and non-franchise on the first round.
We're trying to get less confusing - not more.  What we do not need is some
major change in the draft methodology 2 days before the draft.

The system that Kevin initially described is the fairest, least confusing
and works fine.  The franchise keepers (including me) should pick after
those that do not keep anyone.    It best simulates the outcome of a
non-franchise snake draft.  Assuming the franchise keepers retain picks 1
through 5 of  a true first round, they would naturally pick last in a
second round.  This system worked fine last year.

Dutch and Jeff have brought up ranking the franchise players instead of a
2nd random drawing for franchise keepers.  I would vote for that (even
though I would pick last in the 1st round - 28th pick!).  There are
questions with players that might have been injured part of the year or
otherwise, but at least you know exactly where you stand.

I believe in using the snake draft and a 2nd drawing for franchise keepers,
but I would be fine with ranking the franchise players based on prior year.

Jeff Smith is just whining because he kept (potentially) the 10th overall
player in Manning and would now potentially has Manning and the 28th pick.
This is a large sacrifice, but this is Jeff's fault not the system.  Look
at the other 4 franchise players - they are all in the top 5 in most draft
rankings.  Only Smith is complaining.

DeLuke

To:       Smith, Jeff\" <Jeff_Smith/@AFCC.com>@ENRON"
          <IMCEANOTES-+22Smith+2C+20Jeff+22+20+3CJeff+5FSmith+40AFCC+2Ecom+3E+40ENRON@ENRON.com>,

          "Kiske, Chris" <Chris.Kiske@arbitron.com>, Kevin <klyn@pdq.net>,
          Ty Servello <Ty.Servello@OAG.STATE.TX.US>, Michael
          DeLuke/US/GEN/CVC@CVC-US, Michael Currie <mcurrie@tcta.org>, Jody
          Spottswood <Jerry.Spottswood@COMPAQ.com>, Jeff Ullrich
          <jeffu192@cs.com>, Grant Johnson <johnsogc@bp.com>, Dan
          Wienserski <DG_SKI@email.msn.com>, "Chris Kiske (Home)"
          <ckiske@austin.rr.com>, BJ Naman <b_sting91@excite.com>, Andy
          Reynolds <Andy_Reynolds@panda-law.com>
cc:
From:     "Quigley, Dutch" <Dutch.Quigley@ENRON.com>
Date:     09/06/2001 11:33:23 AM EST
Subject:  RE: Franchise Players and the Draft

suggested draft order:

scenario
5 franchise teams and 7 non-franchise
franchise teams ranked 1 - 5 based on total points of franchise player
from previous year

First the supplemental draft

Round one
# 5 franchise team, # 7 supplemental , # 4 franchise , # 6 supplemental
and so forth and so on

with a non snake system going from there

ok everyone chew on that and spit back

Dutch

>  -----Original Message-----
> From:   "Smith, Jeff" <Jeff_Smith@AFCC.com>@ENRON
> [mailto:IMCEANOTES-+22Smith+2C+20Jeff+22+20+3CJeff+5FSmith+40AFCC+2Eco
> m+3E+40ENRON@ENRON.com]
> Sent:   Thursday, September 06, 2001 10:44 AM
> To:     'Kiske, Chris'; 'Kevin'; Ty Servello; Mike Deluke; Michael
> Currie; Jody Spottswood; Jeff Ullrich; Grant Johnson; Quigley, Dutch;
> Dan Wienserski; Chris Kiske (Home); BJ Naman; Andy Reynolds
> Subject:     RE: Franchise Players and the Draft
>
> The snake thing is good and bad.   But I think the first round should
> be
> randomly selected for ALL teams because the current way gives those
> not
> keeping a franchise player a double benefit by picking in the
> supplemental
> and then also at the top of the first round.   Theoretically the non
> keeper
> teams are getting the 8-14 best players who are arguably also
> franchise
> players.  In effect by not keeping a player you are randomly selecting
> a
> lower level franchise player.  So they shouldn't get the an automatic
> shot
> at 15-22 or whatever it might be as well.  So snake or no snake all of
> round
> one should be random order.
>
> > -----Original Message-----
> > From: Kiske, Chris [SMTP:Chris.Kiske@arbitron.com]
> > Sent: Wednesday, September 05, 2001 9:59 PM
> > To:   'Kevin'; Ty Servello; Mike Deluke; Michael Currie; Jody
> Spottswood;
> > Jeff Ullrich; Smith, Jeff; Grant Johnson; Dutch Quigley; Dan
> Wienserski;
> > Chris Kiske (Home); BJ Naman; Andy Reynolds; Kiske, Chris
> > Subject:   RE: Franchise Players and the Draft
> >
> > As the creator of the algebraic mean sequenced draft order that was
> built
> > to eliminate the inherent advantage that the #1 & #14 teams had by
> getting
> > back to back picks every other round, I think the time for
> mathematical
> > preciseness has passed.  I'm all for going to a simplified
> traditional
> > snake system.  Frankly, at this point I think there are as many
> > disadvantages to being 1 or 14 (or 2 - 13) as advantages that it all
> works
> > itself out.  Hell, if it makes preparing for the draft any easier
> (or
> > administering the league), I'm for it!
> >
> > PS - I'm for keeping TE's too!
> >
> > (Somewhere, Rick is rolling over in his grave)
> >
> >
> >  -----Original Message-----
> >  From: Kevin [mailto:klyn@pdq.net]
> >  Sent: Wednesday, September 05, 2001 5:53 PM
> >  To: Ty Servello; Mike Deluke; Michael Currie; Jody Spottswood;
> Jeff
> > Ullrich; Jeff Smith (E-mail); Grant Johnson; Dutch Quigley; Dan
> > Wienserski; Chris Kiske (Home); BJ Naman; Andy Reynolds; Chris Kiske
> > (Work)
> >  Subject: Franchise Players and the Draft
> >
> >
> >  The following is the list of franchise players that have been
> kept:
> >
> >  Grant Johnson - Eddie George
> >  Jeff Smith - Peyton Manning
> >  Michael Deluke - Marshall Faulk
> >  Michael Currie - Edgerrian James
> >  Jeff Ullrich - Kurt Warner
> >
> >  I know this was brought up last year and we kind of decided much
> of
> > nothing...but does anyone object to going to a snake system for the
> draft.
> > 1-14, 14-1 for the whole draft?  We will still have a supplemental
> round
> > for those that do not keep franchise players.  Then the
> non-franchise
> > teams will pick in opposite order of the supplemental round for
> round
> > one...thus if you pick first in the supplemental round, you will
> pick last
> > (for those that did not keep franchise players) in the first round.
> Then,
> > the teams that kept franchise players will be randomly selected to
> pick at
> > the end of the first round.  After the first round, the draft will
> snake
> > back the other way with the last pick in the first round getting the
> first
> > pick in the second round and the draft will continue in this snake
> order
> > until the end of the draft.  Let me know what you think or if you
> are
> > confused.
> >
> >  See everyone at the draft!!!
> >
> >  Kevin
> >
> >

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of
the intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or
reply to Enron Corp. at enron.messaging.administration@enron.com and delete
all copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
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Yes should be, right Howard?
Stella
---------------------- Forwarded by Stella L Morris/HOU/ECT on 01/11/2000
12:48 PM ---------------------------

Daren J Farmer
01/11/2000 12:46 PM
To: Stella L Morris/HOU/ECT@ECT
cc:
Subject: Re: Revision - Black Marlin - meter 986782 for 8/98 - UA4

So, is this ok now?

D

	From:  Stella L Morris                           01/11/2000 11:09 AM

To: Charlotte Hawkins/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON
Subject: Revision - Black Marlin - meter 986782 for 8/98 - UA4

The above meter is non-allocatable and was off system, actuals at meter #8693.
Thanks, Stella

---------------------- Forwarded by Stella L Morris/HOU/ECT on 01/11/2000
11:01 AM ---------------------------

	From:  Stella L Morris                           12/28/99 05:55 PM

To: Daren J Farmer/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT
Subject: Revision - Black Marlin - meter 986782 for 8/98 - UA4

Revision - According to measurement, there is flow of 7,394 in 8/98, however,
there is nothing to indicate this is gas that was received on HPL in OSS.   I
checked MIPs and there is a measurement statement that supports the flow rate
of 7,394 MMBTu.

Daren is there a deal in CPR which may not have fed over to OSS?   I checked
OSS for the whole year of 1998 and there are no other deals in OSS.  It does
seem strange that this is the only month of flow.

Thanks, Stella


you got them - put them in before i leave around 3ish

---------------------- Forwarded by Martin Cuilla/HOU/ECT on 11/03/2000 01:18
PM ---------------------------

	Enron North America Corp.

	From:  Gary W Lamphier                           11/02/2000 09:19 AM

To: Martin Cuilla/HOU/ECT@ECT
cc:
Subject: Free Agent

Coles  26
Vinny  6


FYI.  Indicates that the CPUC is unlikely to order refunds, but also
tentative about recouping high costs from ratepayers.  Utilities are "upping
the ante" by filing in Federal Court and showing fiscal implications.

---------------------- Forwarded by Mona L Petrochko/NA/Enron on 11/13/2000
11:36 AM ---------------------------

Mary Hain@ECT
11/10/2000 06:00 PM
To: Tim Belden/HOU/ECT@ECT, Greg Wolfe@ECT, Mike Swerzbin/HOU/ECT@ECT,
Christopher F Calger/PDX/ECT@ECT, Dave Parquet, Richard Sanders,
mday@gmssr.com, gfergus@brobeck.com, Christian Yoder/HOU/ECT@ECT,
steve.c.hall@enron.com, Chris H Foster/HOU/ECT@ECT, Stewart
Rosman/HOU/ECT@ECT, John M Forney/HOU/ECT@ECT, Joe Hartsoe@Enron, Sarah
Novosel/Corp/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Steve
Kean, Richard Shapiro, James D Steffes/NA/Enron@Enron, Donna
Fulton/Corp/Enron@ENRON, Mona L Petrochko/NA/Enron@Enron, James E
Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Harry Kingerski/NA/Enron@Enron,
Dennis Benevides, Jeff Richter/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Tim
Heizenrader/PDX/ECT@ECT, Chris Stokley/HOU/ECT@ECT, Murray P
O'Neil/HOU/ECT@ECT, David Aamodt@Gateway, Jay Dudley, Neil
Bresnan/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Kathryn
Corbally/Corp/Enron@ENRON
cc:

Subject: Fwd: DJ - Calif PUC Unlikely To Order Refunds From Pwr Generators

Please forward this to anyone I have forgotten.  Thanks.

DJ Calif PUC Unlikely To Order Refunds From Pwr Generators
Copyright , 2000 Dow Jones & Company, Inc.

(This article was originally published Thursday)

     LOS ANGELES (Dow Jones)--The California Public Utilities Commission
likely won't order generators to refund billions of dollars in windfall
profits from last summer's wholesale power price spikes to utilities and
customers, commissioners told Dow Jones Newswires Thursday.

     A Republican commissioner said the PUC knows generators are manipulating
the wholesale power market in California but the commission doesn't have the
"expertise in-house to figure out who it is and how it's being done."

     "Even if we could force refunds, it would take five to 10 years in court
to decide if generators should refund money," the commissioner said. "I don't
think the state is willing to spend the money or the time."

     In addition, the commission is nowhere near deciding whether Edison
International (EIX) unit Southern California Edison and PG&E Corp. (PCG) unit
Pacific Gas & Electric can pass on a combined $5 billion in debt to their
ratepayers, the commissioner said.

     A decision won't likely be made until mid-2001, the commissioner added.

     Only PUC President Loretta Lynch and Commissioner Carl Wood support
having generators refund windfall profits to utilities and ratepayers. The
commission's investigation, one of two ongoing probes into the state's
troubled wholesale power market, has been unsuccessful in finding evidence
that would force generators to refund billions of dollars, according to
documents obtained Thursday by Dow Jones Newswires.

     Last week, federal regulators determined generators didn't manipulate
the market. But they did find flaws in the state's market structure and said
rates were "unjust and unreasonable."

     The state's Independent System Operator and Power Exchange have also
concluded they have no evidence to prove generators manipulated the market in
order to drive up wholesale power prices.

     The commissioner said the PUC doesn't support the utilities' efforts to
pass on $5 billion in wholesale power costs to ratepayers.

     The commissioner said "if it came down to deciding tomorrow, the
utilities would be left holding the bag."

     PG&E and SoCal Edison pay about 16 cents a kilowatt-hour for wholesale
power. But the utilities charge their customers far less under a
state-mandated rate freeze.

     As reported earlier Thursday, SoCal Edison President and Chief Executive
Officer Stephen Frank said the utility's inability to immediately recover
more than $2 billion in debt from its ratepayers may force the company to lay
off employees and reduce major capital spending.

     PG&E filed a lawsuit in federal court Wednesday asking a judge to allow
the utility to pass on $3 billion in debt to its customers.

     -By Jason Leopold, Dow Jones Newswires; 323-658-3874;
mailto:jason.leopold@dowjones.com
     (END) Dow Jones Newswires 10-11-00


SENT ON BEHALF OF ROBERT RABALAIS

 <<Valhalla Distribution Memo 3-8-00.DOC>>  <<CMP of doc 148786 1v2.DOC>>

Sandy Cano
Executive Legal Secretary
Vinson & Elkins L.L.P.
Telephone: (713) 758-2927
(800) 833-1594, ext. 2927
Email: scano@velaw.com

 - Valhalla Distribution Memo 3-8-00.DOC
 - CMP of doc 148786 1v2.DOC


Lucy,

Thanks.

Vince

Lucy M Marshall
01/11/2000 12:26 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Kudos

Congratulations on your promotion--well deserved!!
Lucy


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Attached please find the Natural Gas market  analysis for today.

Thanks,

Bob McKinney
 - 1-25-02 Nat Gas.doc


Rich,

We are currently talking to a few parties about the possible sale of New
Albany.  I expect to send out draft schedules to the form of Purchase and
Sale Agreement on Wednesday.  These schedules will reveal the existence of
the litigation between Power Systems and GE and I expect that numerous
questions will follow.  What I would like to do is prepare for these
questions in advance so as to not slow down negotiations.  Does it make sense
to make copies of the files that we have to date (including the petitions,
etc. on the existing equipment and the legal opinions on the new equipment
that Power Systems is trying to sell us)?  If so, please have Linda put this
together ASAP.  Please ask her to separate the information dealing with the
existing problems from the information on the possible solutions (i.e. new
Power Systems technology currently being offered).  This is because I do not
expect to immediately offer up the new technology as a solution that we are
willing to provide.

If this doesn,t work, please let me know.

Many thanks in advance.

Stuart


Attached is the presentation and speech notes that Ken Lay used on Wednesday
at the Austin meeting with Bush, etc.


I changed the price on deal 636796 back to TRCO Z6 Non Ny.

Kimat Singla
03/08/2001 11:56 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: TP3

Chris, remember we discussed this on Tuesday aftenoon - When we came in
Sunday (after physical deals were transfered over to new books) we
recaculated individual P&L's. Your book which had Friday's P&L of ($2,240)
was making $131,808 due to physical deals movement. So we had  to tranfer the
difference of $134,048 from your book to Scott Neal's to bring you back at
Friday's P&L.  This hit came in your Nymex book in March causing you to lose
more than you think in Nymex.

On Monday you would have recovered that physical loss but several deals
Sitara 636796, 636821, 646038 were changed on Monday  resulting in taking the
Sunday's gain away from your book.

Let me know if we need to discuss further. thanks.

Kimat

	From:  Chris Germany                           03/07/2001 04:22 PM

To: Kimat Singla/HOU/ECT@ECT
cc:
Subject: TP3

I think you have my NYMX value in backwards.

---------------------- Forwarded by Chris Germany/HOU/ECT on 03/07/2001 04:21
PM ---------------------------

	From:  Chris Germany                           03/07/2001 04:21 PM

To: Kimat Singla/HOU/ECT@ECT
cc:
Subject: TP3

For the year

My NYMX book is a positive $138410.00 with the trade I did today.  This
morining it should have been $123035.00.

I still have only 3 physical deals (all desk to desk) in my book, all valued
at CNG IF flat.  I still don't see how I can have negative P&L of $128,818.


Thanks man, that is awesome!

Merry Christmas & Happy New Year!

DB

 -----Original Message-----
From: 	Seely, Michael
Sent:	Monday, December 24, 2001 5:02 PM
Subject:	Merry Christmas

When you guys get back into the office, check your bottom right-hand drawer.

Merry Christmas,

Mike


Any follow up questions or India press about the bloomeberg story I sent you
yesterday?


---------------------- Forwarded by Chris Germany/HOU/ECT on 04/20/2000 09:18
AM ---------------------------

dkinney@columbiaenergygroup.com on 03/31/2000 09:07:48 AM
To: " - *Kevin.Ruscitti@enron.com" <Kevin.Ruscitti@enron.com>, " -
*chris.germany@enron.com" <chris.germany@enron.com>
cc: " - *cfrankl2@enron.com" <cfrankl2@enron.com>, " -
*joan.veselack@enron.com" <joan.veselack@enron.com>, " - *vversen@enron.com"
<vversen@enron.com>, " - *cindy.vachuska@enron.com"
<cindy.vachuska@enron.com>, " - *cora_pendergrass@enron.com"
<cora_pendergrass@enron.com>, " - *mmitche2@enron.com" <mmitche2@enron.com>,
" - *scott.goodell@enron.com" <scott.goodell@enron.com>, " -
*steve.gillespie@enron.com" <steve.gillespie@enron.com>, " -
*cgarcia@enron.com" <cgarcia@enron.com>, " - *despey@enron.com"
<despey@enron.com>, " - *joann.collins@enron.com" <joann.collins@enron.com>
Subject: CES Daily March Requirements for 3/31, 4/1 thru 4/3

The attached file contains our daily volume requirements for   3/31 thru 4/3
.    There are two worksheets:  The one labelled with today's date contains
the
volumes that we need at each of the delivery points indicated.   The
schedulers
will want to check this sheet to see how much gas is needed at a specific
point.    The AGL volumes are not current and should be ignored.

The sheet labelled 'Daily Change' shows the change (increase +/decrease -) in
the requested daily volume relative to a prior value.  For the current gas
day,
the change is an intra-day change and is calculated using the previous day's
volume request for the current day (e.g., If the current gas day is 3/28, then
the change is computed with respect to the 3/27 request for 3/28).  For
tomorrow's gas day and any subsequent ones shown, the change is computed using
the First-of-the-month volumes requested for those days.  (e.g., If today is
3/28, then the change for 3/29, 3/30, etc. is computed with respect to the
first-of-the-month volumes for those days.)   This sheet should be useful in
determining prices for daily changes in gas volumes that we take or turn back.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317

 - 03-31-00daily volsAM.xls


yes

	lyoho@enron.com
	09/26/2000 09:03 AM

		 To: Steven.J.Kean@enron.com
		 cc:
		 Subject: Re: job applicant

Steve --

Yes, I am interested in talking to him.    Should I contact Eric?

Thanks for passing this along.

Lisa

From: Steven J Kean@ENRON on 09/24/2000 05:37 PM

Sent by:  Steven J Kean@ENRON

To:   Lisa Yoho/HOU/EES@EES
cc:
Subject:  job applicant

any interest?
----- Forwarded by Steven J Kean/NA/Enron on 09/24/2000 05:37 PM -----

                    Eric Thode
                                        To:
                    09/20/2000          cc:
                    11:46 AM            Subject:

Is this of interest to you?

Eric

---------------------- Forwarded by Eric Thode/Corp/Enron on 09/20/2000
11:46 AM ---------------------------

 (Embedded
 image moved
 to file:      From:  Yvette Parker
 pic11478.pcx) 09/18/2000 05:14 PM

To:   Eric Thode/Corp/Enron@ENRON
cc:

Subject:  job applicant

Imad Tareen forwarded me his resume for a possible job opportunity in our
group.  (Please see below.)  I have never met him before, and I have no
idea how he got my phone number, but his resume looks quite good.  What do
you think?

Yvette

---------------------- Forwarded by Yvette Parker/Corp/Enron on 09/18/2000
05:06 PM ---------------------------

Imad Tareen
09/18/2000 04:39 PM

To:   Yvette Parker/Corp/Enron@ENRON
cc:

Subject:  Rotation

Hi  Yvette

Thanks for your help.  I  am very interested in exploring opportunities in
your group.  I have a Masters in Public Policy from Harvard which deals a
lot with communications and running  campaigns.

Imad

(See attached file: resumeimad[2].doc)

 - pic11478.pcx
 - resumeimad[2].doc


---------------------- Forwarded by Darron C Giron/HOU/ECT on 03/29/2001
01:53 PM ---------------------------
From: Darren Vanek/ENRON@enronXgate on 03/29/2001 12:44 PM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report 3/29/2001


Tell him he is dropping to the B list.

It was sent via fax to her.

Kay

	From:  Kathleen Carnahan                           05/18/2001 04:24 PM

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

Subject: Patty Clark bcc

"Stuart worry wort" wanted me to confirm that Patty Clark was bcc'd on the
Westinghouse letter.

K-


<Embedded Picture (Device Independent Bitmap)>


Just a reminder that all time sheets are due by 3:00 today, Monday,
April 16th.

     If you need assistance entering your time, please call Alex or Brandee.

     Thank You!


---------------------- Forwarded by Steven J Kean/NA/Enron on 08/22/2000
04:47 PM ---------------------------

"Elizabeth A. VanDersarl" <liz@luntz.com> on 08/22/2000 11:18:32 AM
To: "'skean@enron.com'" <skean@enron.com>
cc:

Subject: RE; Luntz Focus Groups

Attached please find the edited deregulation speech.

 <<anti regulation speech.doc>>

 - anti regulation speech.doc


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/10/2000
05:07 PM ---------------------------

"Chris Strickland" <chris@lacima.co.uk> on 10/04/2000 01:51:59 AM
Please respond to "Chris Strickland" <chris@lacima.co.uk>
To: "Les" <Les@lacima.co.uk>, "VinceJKaminski" <Vince.J.Kaminski@enron.com>
cc: "Julie" <julie@lacima.co.uk>
Subject: eprm articles

Hi guys,
?
Hope you are both enjoying Paris. We've past the  end of September which was
the deadline for the ext EPR article. Seeing as we  were going to use the
same data set for articles 2 and 3 I've done drafts of  them both. Please
have a look and get comments back to me asap before Robin  stars jumping on
us.
?
Best regards.
?
Chris.
?
 - eprm_02_03.ZIP


Please prepare a fed ex package to go out tonight, as described below.  Also,
please prepare a transmittal letter to Heather for me to sign.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/24/2000 12:27
PM ---------------------------

Heather Kroll@ECT
10/24/2000 11:40 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: CRRA LOU

Kay,

As I said in my voice mail, please print out executable copies of the CRRA
LOU with your CKM initial.  We are going to see Bob Wright tomorrow and if he
has no further changes we can get the documents signed.

Please FedEx them to our attorney's office in Hartford:

Heather Kroll/Jeff Ader
c/o Paul McCary
Murtha, Cullina, Richter and Pinney
Cityplace I
185 Asylum Street
Hartford, CT  06103-3469

860.240.6037

We'll be there by 11:00 (enough time to sleep in a little bit), so 10:00
delivery is perfect.

Also, if you will send the fuel cell document to swanita_99, I will make sure
I download it and review before seeing Jerry tomorrow night.

Thanks!  Call me on my cell if you need anything.

I'll let you know if anything interesting happens at The Mark Bar or on
Channel 35 (gotta' love PBS).

Heather


Hey guys,

What's going on strangers??  Haven't heard from you guys in a while,  I guess
we are all busy in our own little world.  Just wanted to say hello and see
how yall were doing.  I also have some SPECIAL NEWS I wanted to share with
you guys.  Here it goes..........

My first and BIGGEST news is that Anthony and I are expecting, yes a BABY!
I'm 3 1/2 months and due July.  So is everyone SHOCKED!  Sorry for delay in
telling you guys but I had a little accident so I wanted to make sure
everything was okay!  Everything is fine!  My second news is that we are also
in the process of buying a house so hopefully that will turn out okay.  Now
I'm realizing how much of a headache it is to do all this paper work and all
the closing costs that add up.  If you homeowners have any tips for me pass
them on I need all the help I can get.        I'll stop here cause I'm sure
you guys don't have time to do all this reading.  Just wanted to share some
of my good news with all of you.

Love,
Melissa


Chris,

I haven't heard when they expect to have their financing.  We are finishing
up the break out contract with GE, and assuming we tender it tomorrow, they
will have until April 19th to fund the escrow.

Kay

Christopher F Calger@ECT
04/09/2001 05:27 PM
To: Stephen Thome/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron
cc:

Subject: turbine swap

Steve and Kay,

How are things going with Delta?  I want to push them hard to close.

Regards,

Chris


Hi Kent,

Hope this is helpful.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/14/2000 11:09
AM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 11/13/2000 05:16:49 PM
To: "Kay Mann (E-mail)" <kay.mann@enron.com>, "Pipitone, Paul"
<paulpipitone@akllp.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>, "Pipitone, Paul"
<paulpipitone@akllp.com>, "Cobb, Chris" <chriscobb@akllp.com>

Subject: ltr to Kay Mann: Site specific references in GE Form agreement.DOC

 <<ltr to Kay Mann: Site specific references in GE Form agreement.DOC>>

Attached is the memo setting forth the specific Site references in the
GE Turbine Agreement.
 -  Site specific references in GE Form agreement.DOC


The key question will be whether we can get a QSPE [which is supposed to be brain dead] to amend a document to accomplish this. Section 6.2(c) of Swee'P, L.L.C.'s LLC Agreement provides that:

"(c)	The Principal Managers of the Company, or any one of them, are hereby, and without further action, expressly authorized to execute and deliver, on behalf of the Company, the Transaction Documents, together with (i) any amendments, modifications, or supplements thereto, and restatements thereof, as such Principal Managers, or any one of them, may deem appropriate,"

Alan, lets talk when you have a chance.  [What I would envision is an amendment to the Transfer Agreement that carves out certain account obligors referred to on a schedule from the definition of Receivables -- so we could revise the schedule from time to time as other master netting agreements are executed, and a similar revision to the UCC financing statements.] JNE

-----Original Message-----
From: Cook, Mary
Sent: Monday, October 15, 2001 3:18 PM
To: Ephross, Joel; Proffitt, Tim; Hodge, Jeffrey T.; Taylor, Mark E
(Legal)
Cc: Mellencamp, Lisa; Herron, Chris
Subject: RE: Master Netting Agreements and Prior Physical Gas Receivable
Financing

Not being aware of all the ins and outs of your transaction, but based upon the description below and the provisions of the master netting agreement, I think the receivables must be removed from step 1 (see Sections 7/11 or the netting agreement); therefore, an amendment is evidently required.

-----Original Message-----
From: Ephross, Joel
Sent: Monday, October 15, 2001 2:39 PM
To: Cook, Mary; Proffitt, Tim; Hodge, Jeffrey T.
Cc: Mellencamp, Lisa; Herron, Chris
Subject: RE: Master Netting Agreements and Prior Physical Gas Receivable
Financing

	Mary, in step 1 all of the receivables meeting the definition of Receivable are transferred from ENA to Swee'P; in step 2 Swee'P sells an undivided interest in the pool of Receivables to ASCC [CIBC's conduit vehicle]. The September report indicated that PG&E accounted for 3,340,000/167,000,000 th's of ASCC's interest in the pool of receivables [ASCC having an interest of 167,000,000 divided by some larger amount [which amount includes the excess concentration amount, a reserve requirement, etc.]] Swee'P obtained from ENA.  Note that if the PG&E receivable is "removed" from step 2, then all that really happens is that no credit is given to Swee'P in the numerator, resulting in a smaller undivided interest in the pool being transferred to ASCC; however, by virtue of the PG&E receivable being transferred from ENA to Swee'P in step 1, the PG&E receivable will always be in the denominator, and ASCC will always buy an undivided interest in the pool which includes the PG&E receivable, it will just buy a smaller percentage interest if it is excluded from the numerator. I need to know what you mean by "extracting" the receivable -- if you mean that no credit is obtained by Swee'P in the calculation of the undivided interest that ASCC purchases, then that can be accomplished on the next reinvestment date. If you mean that no undivided interest in the receivable can be transferred to ASCC, then I think it needs to come out of step 1 [so that it is removed from the denominator, not just the numerator], and I think that the only way to do that is by amending the documents.

-----Original Message-----
From: Cook, Mary
Sent: Monday, October 15, 2001 12:03 PM
To: Proffitt, Tim; Ephross, Joel; Hodge, Jeffrey T.
Subject: RE: Master Netting Agreements and Prior Physical Gas Receivable
Financing

Per Lisa Mellencamp and based upon visiting with Mark Taylor, extracting the PGE receivables on 10/25, the next regular date, is satisfactory.  Please note that the master netting does not include the PGE utility entity, only the non-utilities.  Joel, you have a copy of the netting agreement showing all parties thereto.  You should check with Hodge re any utility gas contract receivables.

-----Original Message-----
From: Proffitt, Tim
Sent: Monday, October 15, 2001 11:42 AM
To: Bradford, William S.; Ephross, Joel; Cook, Mary; Taylor, Mark E
(Legal); Hodge, Jeffrey T.; St. Clair, Carol; Sager, Elizabeth; Murphy,
Harlan
Cc: Rohauer, Tanya; Herron, Chris; Reeves, Leslie
Subject: RE: Master Netting Agreements and Prior Physical Gas Receivable
Financing

Good question, our report rolls everything up to the parent. Leslie, can you gather the actual counterparties? thanks.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Thought you might be interested in this message that went out to all Enron
employees.
----- Forwarded by Mark Taylor/HOU/ECT on 03/14/2001 10:12 AM -----

	Ken Lay and Jeff Skilling@ENRON
	Sent by: Ken Lay and Jeff Skilling@ENRON
	03/13/2001 04:17 PM

		 To: All Enron Worldwide
		 cc:
		 Subject: California Energy Crisis

California,s power crisis has generated heated debate over the last several
months.  Unfortunately, this debate has generated more heat than light.  We
want you to know what the facts are and what we are doing about the crisis.
Please spend a few minutes reading the following overview on the situation
and our position on California energy issues.

What happened in California

The source of California,s current problem is as straightforward as supply
and demand.  California,s economy grew 29 percent since 1998.  This increased
the demand for electricity by 24 percent.  At the same time, regulatory
restrictions prevented new generation from getting built in the state.  So
demand grew but regulations prevented supplies from being added.  The result,
predictably, is a shortage.  This summer, peak capacity will be about 10
percent shy of peak demand, leading to further blackouts in the state.

In addition to the supply and demand imbalance, there are two other related
factors that led to the current crisis.  First, the state,s regulations
forced all sales and purchases into the spot market.  The spot market for
power is extraordinarily volatile.  The way firms behave in a free market
when faced with such volatility is to construct a portfolio of purchases long
term, medium term and short term, to reduce exposure to this volatility.  In
California, state regulation prevented this strategy.  This would be the
equivalent of putting the entire state on an adjustable rate mortgage in the
most volatile interest rate environment imaginable.  Everything was fine
while the power surplus persisted, but when shortages ensued, every megawatt
was purchased at the sky rocketing spot price.

Second, retail markets were not deregulated.  Regulated retail rates remained
in effect, and stranded cost recovery charges were structured to keep
competition out.  This meant that utilities were forced to pay high wholesale
prices in the spot market but were only able to recover costs at the
regulated retail rate.  They are now nearly bankrupt.

In short, California,s problems were caused by regulation, not deregulation.
Regulations prevented competitors from entering the market, prevented new
generation from being built, and prevented prudent hedging against volatile
spot prices.

At the time California was developing its restructuring plan, Enron warned
the state,s policy makers about these risks and proposed alternatives, which,
if adopted, would have averted the current crisis.

Enron,s Role

Many political leaders in the state have elected to fix blame rather than fix
the problem.  Power sellers, including Enron, have been vilified by the
politicians and the media.  Here are the facts:

? Other than a small amount of wind power, Enron is not a generator in the
state of California.  Every megawatt we sold in California we bought in the
same market available to other California purchasers.  Because we are a
market maker, not a generator, we are not biased toward high prices.  We are
interested only in having a market that works so that we can package products
for our customers.
? As a seller to end-use markets in the state, we provided protection from
the problems the states, utilities, and their customers, now face.  We
protected, and still protect, our customers from price volatility.

You may have read that EES recently elected to have the utilities supply
power directly to its customers in California instead of procuring power on
the open market.  Early reports mischaracterized this as a &turnback8 of our
customers to the utilities.  Here are the facts:

? As a result of a variety of factors existing in the current California
market, it made more sense for EES to source power for its customers directly
from the utilities.  This decision reduced EES,s market price risk by
allowing EES to access lower utility rates.
? EES did not terminate any customer contracts, and our customers continue to
receive the financial benefits of their contract prices.
? EES is continuing to work with its California customers to provide them
with other energy-related products and services, including assistance in
reducing the demand for power, particularly at peak times.

Enron is currently proposing solutions to help California work out of its
crisis; Enron continues to sign up customers in the state; and Enron
continues to actively manage its risks and capture opportunities in Western
power markets.  Enron,s primary business is managing risk for our customers
with solutions customized to meet their needs.  There has never been more
demand for our products and services.

The Solution

The solution to California,s crisis is also straightforward.  In summary, the
state must increase supply, reduce demand, reduce reliance on the spot market
and shore up the financial stability of the state,s utilities.

Increasing Supply

California,s process for siting and permitting new generation is nothing
short of Byzantine.  Enron has built plants elsewhere in the country in less
than a year.  In California, it often takes 5 to 7 years.  California simply
must streamline this process.  Ironically, while many of the regulations
generators must overcome are aimed at improving environmental quality, the
regulations are preventing new clean technology from coming online and
displacing current plants, which emit 40 times as much NOx.  California can
have abundant power and cleaner air by expediting the permitting of new
facilities.

Reducing Demand

Customers in California today have no incentive to reduce or shift demand.
They pay the same rate no matter what the market price is.  An open retail
market would trigger demand responses, which would balance supply and demand
at lower prices than today.  California should fully open its retail market.

Reducing Reliance on the Spot Market

In a truly deregulated market, customers would protect themselves from
volatile spot prices by purchasing some of their requirements on a longer
term, fixed-price basis.  The state has instead left procurement in the hands
of the utilities, which it has forced to buy exclusively in the spot market.
Opening the market at the retail level will give customers control over their
price risk.

Restoring the Financial Integrity of the State,s Institutions

The utilities in California are not paying their bills.  This has led to
greater uncertainty in the market, higher costs, and reduced flexibility to
arrive at lasting solutions.  California must permit its utilities to recover
their costs so they can pay their bills and invest in the transmission and
distribution assets necessary to get power from where it is to where it is
needed.

Just as important as doing these things, the state must avoid policies that,
while politically attractive, do not fix the problem or even make matters
worse.  Price caps have been proposed.  They don,t work; have never worked;
and they will not work here.  Price caps succeed only in creating shortages,
which then have to be allocated among competing users.  Imagine how
ineffectively the government would be in determining, for example, whether it
is better to make its limited power supplies available to the Imperial Valley
or Silicon Valley.  Price caps are a surefire way to make the current
shortage worse.

The state has also proposed to take over generation and transmission in
California.  There is no reason to believe, and every reason to doubt, that
the state will be more effective than free markets at investing in,
constructing, operating and maintaining assets.  This will also result in
California tax revenues being spent on power transmission and power
generation -- which the private sector can do -- instead of education, roads
and other public goods -- which the private sector cannot do.

As you are approached by people outside the company or are learning about the
crisis from the media, it,s important for you to know this:  We at Enron will
continue to serve our customers and we will continue to propose real
solutions to the state.


Scott, Any response on the issue of earlier nom's on Transco?  I don't want
to go into the market cover this position if ENA can cover us with early
morning noms.
Let me know.

Jess


-----Original Message-----
From:  Philip Polsky
Sent: Friday, May 04, 2001 8:28 PM
To: Dean Drozdiak
Subject: Petro-Canada Summary

Attached is the summary for Petro-Canada.

Let me know should you have any questions.

Phil Polsky


<<D09N03!.DOC>>
Mr. Nemec:

Attached is the draft proposed Ash Removal Agreement for Elizabethown.  The
insurance language has not yet been reviewed by my client's insurance
specialist, so that section may be subject to revision.

I am preparing the Coal Hauling contract now, and will forward it soon.

Bill White

William A. White
Moore & Van Allen, PLLC
100 N. Tryon Street, Floor 47
Charlotte, NC 28202-40003
(704) 331-1098
(704) 378-2098 Fax
billwhite@mvalaw.com

------------------------------------------------------------------------------
----------------------------------------------
CONFIDENTIAL & PRIVILEGED

Unless otherwise indicated or obvious from the nature of the following
communication, the information contained herein is attorney-client privileged
and confidential information/work product.  The communication is intended for
the use of the individual or entity named above.  If the reader of this
transmission is not the intended recipient, you are hereby notified that any
dissemination, distribution or copying of this communication is strictly
prohibited.  If you have received this communication in error or are not sure
whether it is privileged, please immediately notify us by return e-mail and
destroy any copies, electronic, paper or otherwise, which you may have of
this communication.

 - D09N03!.DOC


---------------------- Forwarded by Dana Davis/HOU/ECT on 12/06/2000 11:53 AM
---------------------------

	Lola Willis @ ENRON
	12/06/2000 10:38 AM

To: debra_atkins@co.harris.tx.us, sweetp@netropolis.net, bill481@excite.com,
dana davis@enron.com, Laura Gutierrez/HOU/ECT@ECT
cc:
Subject: Are you worth it?

---------------------- Forwarded by Lola Willis/Corp/Enron on 12/06/2000
10:37 AM ---------------------------

"Mims, Valerie" <valerie.mims@bankofamerica.com> on 12/06/2000 09:59:56 AM
To: lola.willis@enron.com, prhusband@shellus.com, "Slaughter, Glenda"
<glenda.slaughter@bankofamerica.com>
cc:

Subject: Are you worth it?

 <<ROLO_1.mpeg>> Saving the last for the best or was that the best for last?
Just wanted to see you smile...Peace!

 - ROLO_1.mpeg


Hi Tori,

You are cordially invited to attend Prebon Yamane's Energy Holiday Party.

Please view your invitation and RSVP NOW; it's as easy as clicking on the URL
below!
http://cards.corporateecards.com/view.asp?ID=It61ShUb8764WVf3
(AOL users need to copy & paste the URL into their web browser).

________________________________________
This invite is supported by Netscape and Internet Explorer 3.0 and above. If
you are having difficulties viewing or responding to the invite please click
'REPLY' to RSVP or follow the instructions below:

You will need to copy and paste the address into your World Wide Web browser.
1. Make sure you only have one web browser open.
2. Highlight the address by dragging the cursor across the URL (make sure you
get the whole address).
3. Copy and paste the URL into your web browser.
4. Hit 'enter'.


Have I signed this yet?
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/31/2001 05:18
PM ---------------------------

"Reuter, Marisa" <MReuter@KSLAW.com> on 05/31/2001 04:12:56 PM
To: "'Kay.mann@enron.com'" <Kay.mann@enron.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>

Subject: FW: ESCROW AGREEMENT

Kay:

The Escrow Agreement that is attached appears to be in final form and
contains all of the changes that we requested.  As a result, will you
overnight the sig pages and the incumbency certificate to Tremaine Wright?
If you prefer, you can courier the documents to my attention, and I can
coordinate getting them to Paul Hastings.  Tremaine needs 3 sig pages and 1
incumbency certificate.  Thanks.

Regards,

Marisa

-----Original Message-----
From: Wright, Tremaine S. [mailto:TremaineWright@paulhastings.com]
Sent: Thursday, May 31, 2001 3:53 PM
To: 'mreuter@kslaw.com'; 'estelle.a.lawrence@citi.com'
Subject: ESCROW AGREEMENT

"paulhastings.com" made the following annotations on 05/31/01 16:52:42
----------------------------------------------------------------------------
--
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
paulhastings.com.  In most cases, our address is composed of
conventional first name and last name plus @paulhastings.com.  Here are
two examples: janesmith@paulhastings.com and danjones@paulhastings.com.
If you have any questions, please contact us at noc@paulhastings.com.

============================================================================
==
"The information transmitted is intended only for the person or entity
to which it is addressed and may contain confidential and/or privileged
material. Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you
received this in error, please contact the sender and delete the
material from all computers."

============================================================================
==

                    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.

Content-Transfer-Encoding: 7bit
To:
Subject:
Date: Thu, 31 May 2001 17:15:34 -0400
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
Content-Type: multipart/mixed ;
boundary="----_=_NextPart_002_01C0EA16.7657F5B0"

 - ATT43428.txt
 - ATT43429.htm
 - 757N05!.DOC


Here it is.  Please feel free to call me if I can be of help.

Thanks,

Sharon

 -----Original Message-----
From: 	Sullo, Sharon E
Sent:	Saturday, November 17, 2001 4:23 PM
To:	Wolfe, Tony; Boots, Kelly H.
Subject:
Importance:	High

Please call me if I can help further.

Thanks,

Sharon
713 305 4883


Enron participant:  Linda Roberston


************************************************************
Keep in Touch for the Holidays
************************************************************

Hi Andrew,

Discover how to keep your loved ones close at heart
throughout the holiday season -- no matter where they live.

Next week's topic: Last-Minute Shopping Ideas and Time
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Dan's cell 917-757-0519


Dear all,

Anjam and myself  had a highly productive and informative set of meetings
with Andreas Barkchis of MG Metals NY on Thursday 20th July in the NY
office.  Firstly we should say "thanks" to Andreas for being so helpful in
addressing out numerous requests for information - we look forward to
establishing a solid working relationship with him going forward.

Find below a summary of Version_1a for initial rough calculation of MG
Metal's VAR.

Also Anjam, Kirstee (from London side) and Cantekin, Grant, Vince and myself
(Houston side) have been working for last 2 days on the spreadsheet VAR
model.
The current status of this effort and a plan for future progress is
summarized in the enclosed document:

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V@R methodology for MG Metals positions
Version_1a

Introduction
This document describes the initial rough model for calculations
Value-At-Risk for MG Metals. This model will be implemented in a spreadsheet,
which will serve as a prototype for the RiskTrac implementation.

Risk factors
The following positions represent most of MG Metal,s risk and will be covered
by Version_1a:
- Base metals, positions including:
- aluminium;
- copper;
- gold;
- lead;
- nickel;
- silver;
- tin;
- zinc;
Risk related to these positions will be quantified by simulating forward
prices for each metal.
- Copper concentrate;
Risk related to these positions will be quantified by simulating TC charges.
- Cocoa beans;
Risk related to these positions will be quantified by simulating forward
prices for cocoa beans.

Therefore these 10 curves will drive the risk: price curves for aluminium,
copper, gold, lead, nickel, silver, tin, zinc and cocoa beans plus tc curve
for copper concentrate.

Assumptions and simplifications:
- For each metal we are going to use a single price curve or all types of
products (physical, financial, LME traded, Comex traded, scrap, alloy, stock,
etc.);
- Delta, gamma approach for risk on options, positions;

Components required to implement V@R model:
- current forward prices available from Mercur;
- current implied volatilities available through Reuters;
- current positions from Mercur;
- history of prices required to calculate factor loadings and correlations
across commodities;

Methodology
Version_1a will be based on Risk Matrix approach. We will calculate principal
components for each metal and cocoa beans to take in account the correlations
along the term structure. We will also calculate the correlations across
commodities based on prompt month prices history for last 3 months.

Portfolio hierarchy
Each position will be assigned to one of the following portfolios under the
whole portfolio AGG-METALS:
- MG Metal & Commodity Corp.
- MG Ltd.;
- MG Metal & Commodity Company Ltd.;
- MG Metall Recycling GmbH, Ffm;

Under each of these sub-portfolio there will be the following sub-portfolios:
- Comex;
- Frame contract;
- LME;
- LME Alloy;
- LME Metal Index;
- Option Call;
- Option Put;
- Physical;
- Physical Alloy;
- Physical Real;
- Physical Scrap;
- Price Part.;
- Prov. Billing;
- Stock;
- Stock Alloy;
- Stock Comex;
- Stock Physical;
- Stock Scrap;


Start Date: 12/23/01; HourAhead hour: 8;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122308.txt


The attached memo details our proposal of a week ago to use SAP AR rather
than Unify AR.  As of this morning, we finalized our decision to use the SAP
AR system and to turn off Unify AR when SAP is implemented.  Please direct
any questions to myself at X33179 or Melissa White at X35704.

Please feel free to forward this memo to anyone I may have forgotten who is
interested.

Stephen
---------------------- Forwarded by Stephen P Schwarz/HOU/ECT on 02/29/2000
01:15 PM ---------------------------

	Enron North America Corp.

	From:  Stephen P Schwarz                           02/18/2000 04:17 PM

To: Bryce Baxter/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Rita
Wynne/HOU/ECT@ECT, Mechelle Stevens/HOU/ECT@ECT, Susan Harrison/HOU/ECT@ECT,
Brenda F Herod/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Melissa K
Ratnala/HOU/ECT@ECT, Leslie Reeves@CCMAIL, Evelyn Aucoin/HOU/ECT@ECT, Laura E
Scott/CAL/ECT@ECT, Cheryl Dawes/CAL/ECT@ECT
cc: Melissa White/HOU/ECT@ECT, Dorothy Ricketts/HOU/ECT@ECT, Kimberly
Perkins/HOU/ECT@ECT, Trang Le/HOU/ECT@ECT, Christy Sweeney/HOU/ECT@ECT
Subject: Unify AR -- SAP Plans

Two years ago Enron North America made a decision to use Unify AR for cash
application rather than SAP AR.  We decided at the time that SAP AR would be
kept in sync with Unify AR by the Unify/SAP interface.  We believe that the
business logic for that decision has changed, and are now recommending that
Unify AR be permanently turned off and all AR functions be performed in SAP.
I have briefly summarized the change in business situation below.

Two Years Ago	Today
Netting allowed by legal and credit ONLY if netting contract was already in
place.	Netting encouraged by legal and credit wherever possible, regardless of
existence of signed agreement.
Netting limited to one counterparty and legal entity at a time.	Canada nets across
counterparties.
Netting performed in physical only, financial settlements to maintain
separate net statement process.	ENA considering netting physical and financial
together.
All account coordinators were to apply their own cash.	Cash applied centrally in
Power, Financial and Canada  Individual coordinators apply cash only in
physical Gas.
Cash was to be applied at the line item level to track variances and to
facilitate calculation of cost of funds by commercial team.	Although gas
settlements is applying cash for some invoices at the line item level, this
functionality is not being used by power settlements and will not be used by
financial settlements.  The company has not made any move towards calculating
cost of funds by commercial team.
The Account Inquiry functionality in Unify was thought to be a key on-line
tool.	Old habits die hard...most users appear to be printing reports and reviewing
data, rather than using the on-line functionality.
Overapplication of cash was not to be allowed.  Overpayments would be
classified as "on account", with issues tracked in a case management system.	Case
management system does not exist.  Allowing overapplication helps the account
coordinators track overpayments easier than leaving cash on account.
The counterparty/legal entity combination on the deposit needed to match the
counterparty/legal entity combination on the Enron invoice.	Given the number of legal
entities Enron has, along with the number of entities our counterparties
have, this seems like a hopeless battle.  Allowing cross-application of cash
seems easier.
Corp required that intercompany settlements had to be "settled" with cash
movement.	Corp no longer requires intercompany settlements to be "settled" with cash
movement.

Converting to SAP AR simplifies the Unify/SAP interface in the following ways:
Bank deposits into SAP do not have to be split off into Unify
Cash entries in Unify do not have to be interfaced back to SAP
Unify netting entries do not have to be interfaced to SAP
Payables information does not have to be interfaced from SAP to Unify

Given the change in attitudes towards our netting business process we face
two problems in Unify.
Controls built into Unify are already obsolete.
Unify does not maintain all products in one database, making efforts to net
across products in the future (physical with financial, for instance)
impossible.

Our understanding of the netting process in SAP indicates that there are no
controls (which sounds good at this point) and that we would retain the
automatic netting entries when the payable is netted with the receivable
within SAP.  However, we emphasize that netting would be done in SAP, not at
the time of finaling a payment in Unify.

To repeat, we are recommending that Unify AR be turned off and we convert to
SAP AR.  We will schedule a meeting the week of February 22 to discuss.
Please call me at X33179 with any questions or comments.  We WILL make this
decision by February 28 because the SAP timeline does not allow any
additional time for consideration.

Stephen