i will let you know over thanksgiving
-e

-----Original Message-----
From: K. Bass [mailto:daphneco64@alltel.net]
Sent: Wednesday, November 14, 2001 10:11 AM
To: Jason Bass; Bass, Eric
Subject: Christmas

One more time - what do you want for Christmas?  Speak up now and also need ideas for girls asap.  Thanks.  LU-M


NARUC's meeting at ground-zero dereg (San Diego) in mid-November, right after
the elections.  Might be a good opportunity for a PR event.


Matt, please wait on sending this notice to Mitsubishi until you get an
e-mail from me.  I have sent an urgent memo from all GCs, briefly describing
this matter and asking if anyone is aware of any business that Enron is doing
with Mitsubishi that would preclude ECT from sending this notice.  I will
send you another e-mail by the close of business in Houston today(Thursday)
with the results.  Thanks.

         Britt

----- Forwarded by Britt Davis/Corp/Enron on 08/03/2000 11:01 AM -----

	Julie.Bertschin@clyde.co.uk
	08/03/2000 09:30 AM

		 To: Matthias.lee@enron.com
		 cc: britt.davis@enron.com, ngregson@wfw.com, eric.Tan@enron.com
		 Subject: m/v PACIFIC VIRGO - FREIGHT AND DEMURRAGE

Suggest you send the following to the owners:

"As owners are aware, Enron has suffered considerable loss and damage arising
from the contamination of condensate loaded in good order and condition but
delivered contaminated.

It is clear that Mitsubishi, as time chartered owners, would not be now
claiming
freight or demurrage but for the contamination. There can be no argument about
this.  Since Enron is holding Mitsubishi fully liable for the contamination
according to the terms and conditions of the relevant charterparty, Enron
takes
the view that it does not have a liability to pay either the freight or
demurrage.  Should Mitsubishi disagree, Enron suggests that all disputes are
referred to arbitration pursuant to the relevant clause of C/P.  Enron will
almost certainly be commencing arbitration once the joint analysis results are
known in order to recover their losses which have not yet been fully
quantified.
We respectfully suggest that Mitsubishi reviews its entitlement to freight and
demurrage after the joint testing".

I have since looked at the charterparty for the second leg sent to me
yesterday.
It is quite clear that we freely agreed to enter into an extended C/P for the
second voyage on 19 July having agreed firstly to pay freight for the first
voyage (which has now been done) and secondly to pay estimated demurrage on
the
first voyage to be paid "by charterers as quickly as possible against owners'
provisional invoice, also actual demurrage amount to be settled by charterers
as
soon as possible".

In my view, therefore, we cannot succesfully resist an application for an
interim award both for freight and demurrage.  We can counterclaim back
damages
for paid freight and demurrage assuming we are successful at a later stage in
proving breach by Mitsubishi of the Charterparty concerning the contaminated
cargo.

Please confirm that the cargo owner and charterer are one and the same, i.e.
Enron Capital & Trade Resources Singapore Pte Limited.  This appears to be the
case since the charterers are ECTRS and I note the manuscript entry on the
first
page of the liquid fuel purchase contract recording an assignment of the
contract from Enron Capital & Trade Resources International Corp to ECTRS.

Regards

David Best

__________________________

This e-mail and any files transmitted with it are confidential and intended
solely for the use of the individual or entity to whom they are addressed.
Any views or opinions expressed within this e-mail are those of the author and
do not necessarily represent those of Clyde & Co.  If you have
received this e-mail in error, please contact Clyde & Co.

Clyde & Co.
51 Eastcheap, London, EC3M 1JP
Tel: +44 (020) 7623 1244, Fax: +44 (020) 7623 5427

Clyde & Co. Guildford
Beaufort House, Chertsey Street, Guildford GU1 4HA
Tel: +44 1483 555 555, Fax: +44 1483 567 330

E-Mail: postmaster@clyde.co.uk, Internet: http://www.clydeco.com


The revised Facility Emergency Call List is attached. Please review the list
for content, and forward any changes to me via separate e-mail. Please do no
make changes to the spread sheet.

Thanks,
Randy Lord


The trading flooor needs to formulate a position on this first.  When is your
meeting Tom?

From: James D Steffes@ENRON on 10/24/2000 01:05 PM CDT
To: Joe Hartsoe/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Jeff
Dasovich/NA/Enron@Enron, Susan J Mara/SFO/EES@EES
cc: Tom Briggs/NA/Enron@Enron, Cynthia Sandherr/Corp/Enron@ENRON
Subject: Cal-ISO Wants Pwr Generators To Forward Bid 70% -Sources

Can everyone help Tom respond within Congress to this message?  Tom, also be
forewarned that FERC intends to announce their "proposed remedies" on Nov 1
with about 15 days for response.  We need you guys to be ready for messaging
this politically.

Jim

----- Forwarded by James D Steffes/NA/Enron on 10/24/2000 01:03 PM -----

	Tom Briggs
	10/24/2000 12:32 PM

		 To: James D Steffes/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT
		 cc:
		 Subject: Cal-ISO Wants Pwr Generators To Forward Bid 70% -Sources

It seem sthat the Cal Iso has lost its mind.  Cynthia and I have been trading
phone calls with Bilbray's staff to schedule a meeting.  In the event we can
get one, can I have help rebutting this stuff.  It seems that the England and
Wales Pool, which effectively compelled 100% bidding in the day ahead market
was still frought with gaming between the day ahead market and the within day
balancing market.
----- Forwarded by Tom Briggs/NA/Enron on 10/24/2000 11:22 AM -----

	Cynthia Sandherr
	10/24/2000 10:32 AM

		 To: Tom Briggs/NA/Enron@Enron
		 cc:
		 Subject: Cal-ISO Wants Pwr Generators To Forward Bid 70% -Sources

Tom:  when we meet with Congressman Bilbray's staff, is this something we
should bring up and have a position on....I would assume yes......but wanted
to close the loop.....
--

Cal-ISO Wants Pwr Generators To Forward Bid 70% -Sources
Copyright , 2000 Dow Jones & Company, Inc.

By JASON LEOPOLD
     Of DOW JONES NEWSWIRES

     LOS ANGELES (Dow Jones)--The California Independent System Operator is
expected to file a petition with federal regulators Friday seeking authority
to force generators to bid 70% of their supply into the forward market in an
effort to reduce wholesale power costs in the state, according to a source
familiar with the issue.

     An official with the state's Electricity Oversight Board confirmed the
details of the filing.

     The filing calls for FERC to set a "just and reasonable" rate for a
large fraction of suppliers' capacity, while remaining supply would be able
to earn market-based rates, according to the source.

     In addition, major out-of-state generators would have to enter into
forward contracts at FERC mandated rates for "a significant portion of their
expected sales."

     ISO Chairman and Chief Executive Terry Winter will hold a news
conference Friday morning that will focus on possible solutions to lower
wholesale energy costs. He is expected to announce how bidding into the
forward market will stabilize high wholesale power costs.

     The state's Public Utilities Commission is expected to make a similar
filing with federal regulators in the near future, sources said.

     In addition, forcing generators to bid into the forward market is a
measure that would reduce market power in the state and would protect a
majority of utilities served by the generators from the cost impact of
market power, the ISO has said in prior meetings.

     Market power is a term used by economists to describe how generators
can influence power prices. According to an ISO report, market power
occurred this past summer because tight power supply and concentration of
generation ownership "allowed suppliers to be pivotal at relatively high
demand periods."

     About 50% to 60% of the power purchased this past summer was done in
the spot market, an unusually high percentage, according to the ISO.

     In order to mitigate market power, the filing calls for utilities to
enter into two-year forward contracts with generators to shield against the
daily market price fluctuations.

     Regulatory constraints associated with forward contracting was a "key
source of high (power) costs in the summer of 2000," according to an ISO
report.

     The ISO action will be taken without approval from a the grid
operator's board of governors. Usually, a majority of the board is required
to approve such an action.

     EOB Official Surprised By ISO Action

     The announcement of the ISO's expected filing came as a surprise to
Gary Heath, executive director of the state's Electricity Oversight Board.
Heath told Dow Jones Newswires he was aware of the filing and news
conference.

     "We're trying to find out what's behind this," Heath told Dow Jones
Newswires. "We're not sure if they could do this without board approval. It
came as a surprise."

     Sources said the agency is holding the news conference in an attempt to
eclipse imminent structural changes to the ISO expected to be proposed by
the Federal Energy Regulatory Commission next month.

     FERC launched an investigation into California's troubled power market
this past summer based on allegations that the market isn't workably
competitive and participants manipulate the market. Energy officials have
blamed the ISO for this summer's power woes.

     -By Jason Leopold; Dow Jones Newswires; 323-658-3874;
mailto:jason.leopold@dowjones.com

     (END) Dow Jones Newswires 20-10-00

     0307GMT

Michael E. Nix
Michael E. Nix Consulting
menix@gateway.net
1545 18th St. NW #711
Washington, DC  20036
202.234.1086
202.422.3565-cell


I spoke briefly with Gary Perlmutter who now represents the parent Sempra
Energy but who told me that restrictions on the regulated utility have been
lifted by the CA PUC.  I will verify (or I'll give you his name, etc. and you
can speak with him directly) when the SDG&E lawyer returns my call.  Thus I
am not sure that your online efforts require limitation.  I will also inquire
about SDG&E's online objectives.  SS


<<30b202!.DOC>>

Greg and Isabel:

Enclosed is the initial draft of a letter agreement by ENA consenting to the
form of the ENA Consent, the Promissory Note, the Security Agreement and the
Financing Statement, prepared along the same lines as the GE consent.
Please review and advise of any comments.   Thank you.

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

Enclosure 140366v2

                    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.

 - 30b202!.DOC


Wayne,

Here is a brief  privileged and confidential (not to be handed to the other
side) description of the above-referenced matter from our attorney, Andrew
Bicknell of Clyde & Co. in London.  Andrew is available for further
consultation with you on Wednesday if you so desire.  His direct telephone #
is 9-011-44-207-648-1833 (that's calling from the US, of course).  Andrew's
e-mail address is "andrew.bicknell@clyde.co.uk"

I appreciate any help you can give us at your negotiations on Wednesday with
Exmar.  The best of all possible worlds is if both EGLI and Exmar could agree
to withdraw/dismiss their claims against each other and walk away from this
case before year end.  If you wouldn't mind, I would appreciate a short
e-mail from you regarding Exmar's response during your meeting with them.

Many thanks for your help.

Britt
----- Forwarded by Britt Davis/Corp/Enron on 12/11/2000 12:33 PM -----

	Wendy.Labuda@clyde.co.uk
	12/11/2000 12:25 PM

		 To: Britt.Davis@enron.com
		 cc: Richard.B.Sanders@enron.com, Daniel.R.Rogers@enron.com,
Alan.Aronowitz@enron.com, Becky.Zikes@enron.com
		 Subject: SANTA CLARA

Britt

I would summarise the main facts/status of this matter as follows:

(1)  Enron voyage chartered "SANTA CLARA" from Exmar N.V. by a C/P dated
5.2.91
to carry cargo of 4,200 mt 5% more or less at owner's option of propane, from
Houston to Dunkirk.  Under the Charterparty Enron had the option to load cargo
either fully refrigerated or ambient or chilled.

(2)  On 26th February 1991 the Master advised Enron that the maximum quantity
that the cargo could load at ambient temperature was 3,760 mt having regard to
the vessel's pressure settings and the USCG and IMO Rules and Regulations. The
Master was in fact absolutely correct but Exmar tried to make out that the
vessel could load the full charterparty quantity.

(3)  It is our case that in order to load more than 3,760 mt (the cargo was
loaded at ambient temperature) Exmar refrigerated the cargo as it came on
board
to reduce the volume.  This caused the loading to be excessively slow.  We say
this method of loading was actually illegal.  It was only by loading illegally
in this way that Exmar could load more than 3760 mt at the required pressure
setting.  We also say it was an express term of the charterparty that the
entire
contractual cargo could be loaded within the contractual lay time.   The
vessel
also had to raise the temperature and discharge causing further delays.

(4) There was great commerical pressure on Enron at the time.  The market for
propane was falling rapidly in March 1991 (the end of the Northern European
winter) and Enron had arranged the on sale of a minimum quantity of 3,990 mt
on
CIF terms based on an expected loading of 1st-7th March 1991.  Enron were
extremely concerned that this would lead purchasers Vitol  to repudiate the
sale
contract leading to a very substantial trading loss (Vitol did try to
repudiate
the sale contract due to the loading delays and this developed into a very
major
trading dispute with Vitol which we eventually won in the House of Lords).

(5)  Exmar made out that slow loading was due to low back pressure in his
Enterprise loading lines.  We believe this is wrong but at this distance in
time
it is difficult to get clear evidence.

(6)  In the circumstances, on 7th March 1991to try and speed up loading Enron
agreed that the minimum cargo of 3,760 mt should be loaded and agreed to pay
Exmar deadfreight on the balance in the sum of US$22,714.84.

(7)  Furthermore, because of the slow loading of the vessel the Enterprise
Terminal had to throw "SANTA CLARA" off berth.  This would have caused a very
substantial delay and might have justified Vitol in throwing  over the sales
contract.  In the circumstances Enron negotiated an agreement with another
vessel ("DONAU") to permit "SANTA CLARA" to be loaded ahead of "DONAU".  The
sum
paid to "DONAU" amounted to US$153,472.15.    We believe the "DONAU" was also
operated by Exmar.

(8) Accordingly, Enron deny liability for demurrage for the extended loading
which Exmar have claimed in the sum of US$165,652.78 and Enron have
counterclaimed a total of US$176,186.99 (i.e. the deadfreight and "DONAU"
payments).

Exmar are represented by London Solicitors, Lawrence Graham where the matter
is
being handled by Mike Lax and his assistant Stuart Dench.

Lawrence Graham have always sought to charactercise this claim as a
straightforward demurrage dispute and suggest that we have invented the
technical arguments after the event.  However, we consider there is merit in
our
case and that if the arbitrators properly understand the expert evidence we
have
reasonable prospects of successfully defending the demurrage claim and
establishing the counterclaim.  There is of course however an inevitable
litigation risk in pursuing the matter to an arbitration and we have, to some
extent, been inconvenienced by the loss of our original expert, Mr Ivor
Jorstad,
who sadly passed away earlier this year.   Also some costs will be
irrecoverable
(if we win approximately two thirds of our costs should be recoverable).

If you have any further queries, please do not hesitate to ring me and I would
of course be pleased to speak to Wayne Perry when he is in London if he needs
any further information to assist in negotiations.

Best Regards.

Andrew Bicknell

__________________________

This e-mail and any attachments are confidential and may also be privileged.
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you are not the named recipient, please notify the sender immediately and do
not
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In the event of any technical difficulty with this e-mail, please contact the
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Clyde & Co.
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Tel: +44 (020) 7623 1244, Fax: +44 (020) 7623 5427

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Tel: +44 1483 555 555, Fax: +44 1483 567 330

E-Mail: postmaster@clyde.co.uk, Internet: http://www.clydeco.com


Here are the names at Calpine to send 1 book each to:

Ron Walters
Calpine Corp.
50 West San Fernando Street
San Jose, CA 95113

John King
Calpine- Western Office
6700 Koll Center Park  Suite 200
Pleasanton, CA  94566

Steve Snow
Calpine - Central Office
700 Louisiana Street Suite 2700
Houston, TX  77002

Bill  Siderewicz
Calpine - Eastern Office
The Pilot House, 2nd Floor
Louis Wharf
Boston, MA  02110


Let's talk about this, too.
---------------------- Forwarded by Ben Jacoby/HOU/ECT on 05/22/2001 09:28 AM
---------------------------

	From:  Ann Elizabeth White                           05/22/2001 10:44 AM

To: Ben Jacoby
cc:
Subject: FW: CN comments on Re: FACT Sheet

Ben

Please be sure to include the team attorney on communications such as this.
Anything that is sent to public relations or government affairs also needs to
be copied to legal.

Thanks!

Ann Elizabeth
---------------------- Forwarded by Ann Elizabeth White/HOU/ECT on 05/22/2001
10:31 AM ---------------------------
From: Eric Thode/ENRON@enronXgate on 05/22/2001 09:31 AM
To: Ann Elizabeth White/HOU/ECT@ECT
cc:
Subject: FW: CN comments on Re: FACT Sheet

 -----Original Message-----
From:  Jacoby, Ben   On Behalf Of Ben F Jacoby/HOU/ECT@ECT
Sent: Monday, May 21, 2001 7:43 PM
To: Jacoby, Ben
Cc: Nicolay, Christi; Thode, Eric; Fairley, David; Robinson, Marchris;
Krimsky, Steven; Sooter, Lea; Grube, Raimund; Hausinger, Sharon; Steffes,
James; Walker, Rebecca
Subject: Re: CN comments on Re: FACT Sheet

OK folks. Let's try this again. Attached are collective comments from me and
Christi. Eric / Rebecca, please follow up where indicated. After we have all
our comments, I will clear the document through Kevin Presto before we
release it publicly.

Please provide final comments as soon as possible. Thanks.

Ben


The new office in Oslo is "going live" today,  Monday, July  24.  Please make
a note of the new address.

Enron Nordic Energy
Hoffsveien 1D
Postboks 637, Sk>yen
0214 Oslo
Norway

All the phone numbers are the same as before.


Notice No. 00-367
October 27, 2000

To:
All NYMEX Members
All NYMEX Members Firms
All NYMEX Clearing Members
All NYMEX Operations Managers

From:  Rob Stasi, Manager

Re:  Revised ) Crude Oil Futures Expiration Date

It has come to the attention of the Exchange that some earlier publications
may contain an incorrect Futures expiration date.  Please be advised that the
expiration date for the Crude Oil Futures December 2000 contract month (CL
Z00), has been revised to Friday November 17, 2000.

Should you have questions regarding this matter, please contact the Floor
Departments Systems Area at (212) 299-2626.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(00-367)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


I think we have to be there at 2:00. But I was thinking about leaving early to go shopping or eat or something.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:41 AM
To:	Rybarski, Amanda
Subject:	RE:

i think so, what time are you supposed to go

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:40 AM
To:	Maggi, Mike
Subject:	RE:

It's about your benefits and crap like that...You have to fill out all of these forms and stuff.  Did you get a packet of stuff to fill out?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:39 AM
To:	Rybarski, Amanda
Subject:	RE:

do you know what its about

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:39 AM
To:	Maggi, Mike
Subject:	RE:

Ok...I am pretty pissed off about having to go, but I don't want to get in trouble for not going.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:37 AM
To:	Rybarski, Amanda
Subject:	RE:

if you dont let me know

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:34 AM
To:	Maggi, Mike
Subject:	RE:

I don't know yet.  We'll just have to see.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:32 AM
To:	Rybarski, Amanda
Subject:	RE:

you too, so are you going to go to the meeting

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:32 AM
To:	Maggi, Mike
Subject:	RE:

I was thinking about that this morning on my way in.  You look really nice today!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:30 AM
To:	Rybarski, Amanda
Subject:	RE:

i dont realy think so but what do i know, by the way its a really ugly day out there

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:27 AM
To:	Maggi, Mike
Subject:	RE:

I thought we had to go?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 24, 2002 9:26 AM
To:	Rybarski, Amanda
Subject:	RE:

i dont know are you?

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 24, 2002 9:11 AM
To:	Maggi, Mike
Subject:

Are you going to that lame ass orientation today at the Houstonian?


hey-  chevys are nice, that is what i drive.  so tom came up to north dakota
to steal your car and didn't even buy you guys dinner?  that kid has no
class.  things are going well here.  i have been seeing some girl for awhile
now.  other than that nothing is new.  enron is getting all its employees new
computers so let me know what billie wants to do with the laptop that you
guys gave me.  if you guys want it i can send it up, if not i will keep it
still.  it is a very good cpu.  i think you guys should buy a new lincoln
ls.  they are very nice cars and i don't think that they are too expensive.
has grandma set a date for our vacation this summer?  any time is really ok.
give me a call when you get a chance.  i will be home all weekend.

love matt


Start Date: 12/27/01; HourAhead hour: 19;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122719.txt


Daren - meter 1601 has flow from 11/8-11/10.  There is no deal for these
days.  Last deal used was for Oct. - 413538, counterparty Southern Union.
Will you let me know if you set a deal up for this?

Thanks.

Aimee


I wasnt accusing you I was just stating a fact

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:13 PM
To:	Maggi, Mike
Subject:	RE:

i can't tell because then you would acuse them of staring at you too.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:11 PM
To:	Nelson, Michelle
Subject:	RE:

no I dont know how it works, and who told you

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:10 PM
To:	Maggi, Mike
Subject:	RE:

don't you have messenger

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:09 PM
To:	Nelson, Michelle
Subject:	RE:

nobody told you, dont lie

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Friday, October 26, 2001 3:08 PM
To:	Maggi, Mike
Subject:	RE:

damn you caught me.  and for your information, i didn't notice it...someone told me about it!  so whatever to you mr. allergy man!!!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Friday, October 26, 2001 3:07 PM
To:	Nelson, Michelle
Subject:

if you werent always staring at me you wouldnt notice my eyes


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/19/2000
06:48 PM ---------------------------

webmaster@cera.com on 07/14/2000 10:21:29 PM
To: vince.j.kaminski@enron.com
cc:
Subject: Monthly Briefing: Refined Products Line - CERA Alert

**********************************************************************
CERA Alert: Sent Fri, July 14, 2000
**********************************************************************

Title: Monthly Briefing: Refined Products Line
Author: Refined Products Team
E-Mail Category: Alert
Product Line: Refined Products ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5166&m=1273 ,

Although demand currently lags last year's level, gasoline margins remain
exceptionally strong owing in large part to the tight supply situation;
gasoline price differentials gained $0.46 per barrel during June, rising to
$8.58 per barrel over WTI. Distillate market fundamentals remain very strong
and CERA expects margins to continue strengthening through the third quarter.
High natural gas prices have raised the ceiling on low-sulfur residual fuel
prices, so that 1% sulfur residual fuel differentials below WTI have narrowed
from the $7.00)$8.00 per barrel range of the first quarter to $4.18 per
barrel during June.

**end**

Follow URL for complete Monthly Briefing.
Note: Should the above URL not work, please use the following:
http://www.cera.com/client/rp/alt/071400_18/rp_alt_071400_18_ab.html

**********************************************************************
Account Changes
To edit your personal account information, including your e-mail
address, etc. go to: http://eprofile.cera.com/cfm/edit/account.cfm

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.

Terms of Use: http://www.cera.com/tos.html
Questions/Comments: webmaster@cera.com
Copyright 2000. Cambridge Energy Research Associates


ABB WestLB agreement.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/13/2000 02:07
PM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           09/28/2000 09:16 PM

To: ppipitone@andrews-kurth.com
cc:

Subject: ABB Purchase Agreement - Final Version

Hi Paul,

This will need the same facilities agreement treatment as the GE contract we
are working on.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/28/2000 09:14
PM ---------------------------
From: Kathleen Clark@ENRON_DEVELOPMENT on 07/24/2000 03:05 PM
To: kay.mann@enron.com
cc:

Subject: ABB Purchase Agreement - Final Version

Kay:

Attached is the final version:


I found a flight on delta for you for $188 and southwest has them for $215.
This should show you how bad I want you to go - I am working for you.  Let me
know bro.
PL


Preview of info request before targeted 4:30 PM meeting in my office today.
---------------------- Forwarded by Sally Beck/HOU/ECT on 01/06/2000 03:53 PM
---------------------------

Kathryn Corbally@ENRON
01/05/2000 07:52 PM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Houston Analyst North America Presentation

Sally, Attached are two draft slides that we wish to include in the analyst
presentation. I am hoping that you will be able to coordinate the extraction
of the data necessary to complete the slides.

The slides are basically maps of our power and gas operations but surrounded
with some hard data on particular aspects of the business to demonstrate our
scope and size. I would suggest that the maps are printed out and you will
then easily see the data we require and the format we wish to use to present
it. However , in summary the information needed is:

GAS
Storage Capability, Leased and Owned
Number of Counterparties - 1997, 1998, 1999
Contract type by customer in  %  - I have segregated by Industrials, LDCs,
and Other, but I am open for  better suggestions
Transport contracts - bcf/d - firm and Interruptible,
Term of contracts  - I suggested ,<1 year,< 10years, >10years  but again am
open for more appropriate terms
Peak daily deliveries - Btue/d - 1997, 1998, 1999

POWER
Contract type by customer in  %  - I have segregated by Marketers, Utilities
and Other, but I am open for  better suggestions
Term of contracts  - I suggested ,<1 year,< 10years, >10years  but again am
open for more appropriate terms
Number of counterparties -1996,1997, 1998, 1999

If there is data that you or your team believe is more appropriate to
demonstrate our activities in these markets please let me know. I will be
very grateful for such additional material and information .

As always our timeline is tight and would therefore appreciate the data by
close of business Friday.
Let me know how this works
Thank you,
Kathryn
---------------------- Forwarded by Kathryn Corbally/Corp/Enron on 01/05/2000
07:31 PM ---------------------------

Michael Darnall
01/05/2000 07:11 PM
To: Kathryn Corbally/Corp/Enron@ENRON
cc:

Subject:


i called her again and left a message.  i might need to go through someone
else.


Molly,

Please, make arrangements for the interview with this candidate for
a  trading position. Interviews with John Lavorato, Jeff Shankman,
Gary Hickerson, Stinson Gibner.

I talked to him in New York and he is considering
other opportunities, so we have to act fast.
I think John will like him more than Punit.

Thanks


-----Original Message-----
From: 	Schmidt, Ann
Sent:	Tuesday, May 22, 2001 5:19 PM
Subject:	Enron Mentions

Topping Out In Houston Again
Time Magazine, 05/28/01

Enron to meet government for talks on power dispute
Associated Press Newswires, 05/22/01

Enron to meet government for talks on power dispute
Associated Press Newswires, 05/22/01

INDIA: WRAPUP 1-Indian state questions power deals, cites Enron.
Reuters English News Service, 05/22/01

Enron pulls out of venture drilling in Qatar's waters
Associated Press Newswires, 05/22/01

GERMANY: Enron says Lampertheim hub attracting interest.
Reuters English News Service, 05/22/01

        May 28, 2001  TIME Magazine Topping Out In Houston Again  BY CATHY BOOTH THOMAS/DALLAS  Send the architects south. Silicon Valley may be powerless and profitless, but Houston, the nation's energy capital and home to the oil-baron excesses of the 1980s, is back in "bidness." The energy giants in Texas have big fat wallets these days--and even bigger construction plans. Not since the boom days of 1982, when trophy architects like Philip Johnson and I.M. Pei reconfigured the skyline, has Houston seen so much construction activity by the energy sector.  Leading the parade, ironically, is Enron, an old energy behemoth that has reinvented itself as a high-tech trading firm dealing in everything from natural gas to Internet bandwidth. In fact, its new 40-story headquarters, designed by Cesar Pelli, will be fronted by a seven-story "podium"--or shorter building--to house what Enron is calling the largest commodities-trading environment in the world.  This environment, spread over four floors, each the size of a city block, will become home this August to 2,000 employees trading commodities that range from Old World (crude oil, petrochemicals, steel and lumber) to New World (emission credits and derivatives). Chairman Kenneth Lay and CEO Jeff Skilling are even moving from their skyboxes to work in seventh-floor offices so they can peer down into the pit.  When the bigger 40-story structure is finished in December, Enron's will be the first new skyscraper in downtown Houston since 1987--to be followed by three more by 2003. Besides Enron, Calpine Corp., the nation's leading independent-power company, based in California, will move into a new 32-story high-rise. And Reliant Resources, the IPO spun off this month from its Houston parent to deal with Texas' new deregulated electricity market, has signed on for offices in a 36-story skyscraper.  What's fueling the high-rise fever is simple: excess cash. Enron's first-quarter revenues were up 281%, while Calpine's revenues and net income were each up more than 400%--even with California's deadbeat utility PG&E owing the company more than $300 million.  After a decade of contraction in the business, with companies having shut offices from New Orleans to Oklahoma, deregulation and new marketing strategies are sparking Houston's renaissance. "Enron is a leading example of the new energy industry. Ten years ago, there were no trading floors," points out Stephen Brown, senior economist with the Federal Reserve Bank in Dallas. Both Calpine and Reliant will also have trading operations in their new offices.  Though Houston no longer relies so heavily on the energy business (down to 48% of the local economy from 82% in 1982) the turnaround sure feels good after the city lost more than 15,000 energy-sector jobs two years ago, says Barton Smith, director of the Institute for Regional Forecasting at the University of Houston. It has gained those jobs back, plus some. Says Smith: "The current boom is what's keeping Houston afloat while the rest of the country is suffering."  None of this matters to real Houston lovers, of course. They're just interested in bragging rights. After a bad decade, they're beginning to sound like the biggest and the best in Texas again. "Boomlet?" says Laura Schwartz, spokeswoman at Enron. "It's more than a mini-boom. It's a boom."

Enron to meet government for talks on power dispute
By RAMOLA TALWAR BADAM
Associated Press Writer

05/22/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

BOMBAY, India (AP) - The Indian subsidiary of American power concern Enron Corp. said Tuesday it would meet government officials for talks on a power supply dispute.
"We look forward to hearing the proposed solutions ... particularly relating to creditworthy purchases for the power," said a statement from Dabhol Power Co., Enron's Indian unit.
The statement comes two days after the company issued a preliminary notice to the Maharashtra State Electricity Board, a state-run utility, that it would stop supplying electricity if the government company continued to default on payments.
Representatives from Houston-based Enron will meet Wednesday with officials from the utility, the federal government and Maharashtra, the western Indian state where the project is located.
The MSEB has denied it defaulted on paying electricity bills to the power company that is setting up a $3 billion project in Maharashtra state. MSEB officials said overdue December and January bills of $48 million should be offset against a fine of $85.31 million it imposed on Enron for not supplying power during the period. Enron disputes the fine.
Politicians in Maharashtra say the cost of Dabhol power is too high and have called for renegotiating the tariff. Others have suggested selling power to nearby power-hungry states.
Politicians complain Dabhol's costs have averaged more than 4 rupees (11 cents) as against 1.8 rupees (four cents) per unit agreed in 1995 for the naphtha-generated electricity from the 740-megawatt plant.
The controversy erupted last year when prices shot up to 7 rupees (15 cents) per unit because of worldwide fluctuations of oil prices and depreciation of the Indian rupee.

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

Enron to meet government for talks on power dispute
By RAMOLA TALWAR BADAM
Associated Press Writer

05/22/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

BOMBAY, India (AP) - The Indian subsidiary of American power giant Enron said Tuesday it would meet government officials for talks on a power supply dispute.
"We look forward to hearing the proposed solutions ... particularly relating to creditworthy purchases for the power," said a statement from Dabhol Power Company, Enron's Indian unit.
The statement comes two days after the company issued a preliminary notice to the Maharashtra State Electricity Board, a state-run utility, that it would stop supplying electricity if the government company continued to default on payments.
Enron representatives will meet officials from the western Indian state of Maharashtra, where the project is located, and federal government and MSEB officials Wednesday.
The MSEB has denied it defaulted on paying electricity bills to the power company that is setting up a dlrs 3 billion project in Maharashtra state. MSEB officials said overdue December and January bills of dlrs 48 million should be offset against a fine of 4 billion rupees (dlrs 85.31 million) it imposed on Enron for not supplying power during the period. Enron disputes the fine.
Politicians in Maharashtra say the cost of Dabhol power is too high and have called for renegotiating the tariff. Others have suggested selling power to nearby power-hungry states.
Politicians complain Dabhol's costs have averaged more than 4 rupees (11 cents) as against 1.8 rupees (four cents) per unit agreed in 1995 for the naphtha-generated electricity from the 740-megawatt plant.
The controversy erupted last year when prices shot up to 7 rupees (15 cents) per unit because of worldwide fluctuations of oil prices and depreciation of the Indian rupee.
(rtb, nnm-js)

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

INDIA: WRAPUP 1-Indian state questions power deals, cites Enron.
By Sriram Ramakrishnan

05/22/2001
Reuters English News Service
(C) Reuters Limited 2001.

BOMBAY, May 22 (Reuters) - India's ambitious plans to throw open its cash-strapped power sector to the private sector, already wracked by controversy involving Enron , received a further setback after Karnataka state said it would reopen sealed deals with 11 power firms.
The technology-friendly southern state of Karnataka said late on Monday that it was re-opening power deals with 11 private sector firms which together were due to meet half the state's demand over the next 10 years.
"Enron is a lesson for all of us. Now, it (electricity) cannot be at any cost," V.P. Baligar, chairman and managing director, Karnataka State Power Transmission Corp (KPTCL), the state's monopoly power distributor, told Reuters in an interview late on Monday.
The 11 power projects are based on the Enron model and involve a total of 2,000 megawatts (MW). None of the 11 projects have started generation.
Analysts fear that Karnataka's move, coming amidst the raging controversy over Enron's giant power project, will scare away badly needed private investment from the country's inefficient power sector.
India needs to add 100,000 MW of power over the next 10-15 years to meet growing demand and is hoping to get this through investment from private and foreign companies.
But investment has been hampered by a slow-moving bureaucracy, legal hassles and loss-making utilities who are frequently unable to pay for the power purchased.
ENRON IMBROGLIO
Last week, Enron's Dabhol Power Company moved to break a contract to sell power to Maharashtra state, peeved over payment defaults by the state utility Maharashtra State Electricity Board (MSEB). This is widely seen as leading to a pull out.
MSEB and Dabhol have been at loggerheads for over six months over payments due to DPC by the state utility. The project has been marred by controversy since its inception in 1991, with critics charging that it was charging too much for the power it produced.
MSEB, which DPC says owes it $48 million, is planning to retaliate by slapping a penalty of 4.0 billion rupees ($85.2 million) on DPC for failing to ramp up capacity.
"We will issue the penalty as soon as the bill for May is received," the official, who did not want to be quoted, told Reuters on Tuesday.
MSEB had imposed a similar penalty on DPC - which DPC has not paid - saying its plant could not be ramped upto full capacity within three hours from a cold start. DPC officials refused to comment on the issue.
The Enron project was first billed as a showcase of India's decade-old reform programme but now is regarded by critics as a symbol of policy bungling.
The project involves the setting up of a 2,184 MW power project costing $2.9 billion in two phases. The first, of 740 MW, is up and running while the second, of 1,444 MW, is due to be commissioned next month.
( $1 = 46.9 rupees).

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

Enron pulls out of venture drilling in Qatar's waters

05/22/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

HOUSTON (AP) - Executives of Enron Corp. say they are withdrawing from a large natural gas project off Qatar, partly because the venture doesn't fit with the energy company's focus.
Plans for the Dolphin project called for Houston-based Enron to work with Elf, a subsidiary of France's Total Fina, and the United Arab Emirates Offsets Group to develop and pipe natural gas from a block of the Qatar North Field.
But the company pulled out, believing there are better places to invest its money, said Alex Parsons, a company spokesman in London.
He said the project doesn't fit with Enron's current focus of emphasizing businesses such as marketing and trading in wholesale markets such as those for natural gas and electricity and broadband.
Those involved with the project said last year it could end up requiring investments of up to dlrs 10 billion over six or seven years.
Enron said Monday it was transferring its 24.5 percent stake in the project to the United Arab Emirates Offsets Group, which said in a news release it had started negotiating with other international players to become stakeholders.
With the transfer, United Arab Emirates Offsets Group will own 75.5 percent of Dolphin. Terms of the deal weren't released.
Enron said it would consider future ventures with the United Arab Emirates Offsets Group that were "in line with our core business activities."
M. Carol Coale, an energy analyst with Prudential Securities in Houston, said Enron's move is consistent with its exit strategy from international assets that generate low returns.

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

GERMANY: Enron says Lampertheim hub attracting interest.

05/22/2001
Reuters English News Service
(C) Reuters Limited 2001.

DUESSELDORF, May 22 (Reuters) - U.S. trader Enron said on tuesday there was growing support for the south west German Lampterheim gas hub it had been actively promoting since early April.
"Liquidity is growing slowly, it is not (Belgian hub) Zeebrugge, but customers are posting orders and are coming forward with surplus amounts," sales chief Helge-Juergen Beil of the company's German division in Frankfurt told Reuters during a Euroforum industry conference.
"Our main strength is that we both sell and buy for various periods."
Beil said a number of deals had been done, but would not quantify them.
Enron on its trading platform enrononline.com currently quotes Lampertheim gas sales and purchases in parcels of 20 megawatt hours in euros for the spot market and the year ahead.
The town, near Heidelberg on the border of the Hesse and Baden-Wuerttemberg states, complements border hubs such as Bunde-Oude, Aachen, Baumgarten, Waidhaus and Oberkappel.
Beil also said Enron was supplying eight local and regional utilities and industrial gas customers in central and southern Germany with a total four terawatt hours of annual demand.
Enron's share of total requirements in each case varied between 20 and 94 percent of their annual purchases.
He said non-discriminatory access to the German pipeline grid had not been achieved by newcomers to the market.
In order to help create fair rules for access and their montoring, Enron, like other newcomers, was demanding a state-installed arbiter to supervise the liberalisation process.
Other speakers at the conference said the success of newcomers was still hampered by the long distribution chain and an enforced need for hourly, rather than longer term, balancing, which could cause exorbitant penalties payable to incumbents.
But some gas grid owners had turned out to be co-operative, customers were queueing up, and there were prospects that existing surplus gas volumes from international take-or-pay contracts could be freed up and eventually traded.

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


----- Forwarded by Sara Shackleton/HOU/ECT on 10/05/2000 10:55 AM -----

	Sara Shackleton
	10/04/2000 02:11 PM

		 To: Mahesh Lakhani/LON/ECT
		 cc:
		 Subject: Re: U.K. arranger for ENA and ECT Investments, Inc.

thanks.  Can you provide me with the appropriate signature block for ENA/ECT
Investments Inc. through the agent?

	Mahesh Lakhani
	10/04/2000 10:01 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Paul Simons/LON/ECT@ECT, John Greene/LON/ECT@ECT, Janine
Juggins/LON/ECT, Cindy Buckley/LON/ECT@ECT
		 Subject: Re: U.K. arranger for ENA and ECT Investments, Inc.

Sara.   It has been formed.  Enron Investment Services Ltd was set up on
3/10/00

Regards
Mahesh

Janine Juggins
04/10/2000 15:10
To: Sara Shackleton/HOU/ECT@ECT, Mahesh Lakhani/LON/ECT@ECT
cc: Paul Simons/LON/ECT@ECT, John Greene/LON/ECT@ECT

Subject: Re: U.K. arranger for ENA and ECT Investments, Inc.

Mahesh, please can you update Sara on the status (I think it has been formed,
but Mahesh will confirm)
Regards
Janine

From: Sara Shackleton on 04/10/2000 08:19 CDT
To: Janine Juggins/LON/ECT@ECT, Paul Simons/LON/ECT@ECT
cc: John Greene/LON/ECT@ECT

Subject: U.K.  arranger for ENA and ECT Investments, Inc.

Any word yet on creation of the new entity?  Sara


Latest draft.
----- Forwarded by Sara Shackleton/HOU/ECT on 08/23/2000 10:39 AM -----

	Sara Shackleton
	08/21/2000 02:27 PM

		 To: Kevin Howard/Enron Communications@Enron Communications, Kevin
Garland/Enron Communications@Enron Communications, James Ginty/Enron
Communications@Enron Communications, Kristina Mordaunt/Enron
Communications@Enron Communications, Gordon McKillop/NA/Enron@ENRON, AnnMarie
Tiller/Corp/Enron@ENRON, Brent Vasconcellos/Corp/Enron@ENRON, Ryan
Siurek/Corp/Enron@ENRON
		 cc:
		 Subject: Raptor - confirm - blackline

All:  Please review for content.  This deal has been recast as a "Price
Return Swap" and I hope it is self-explanatory (i.e., you won't have to drag
out the 1996 Equity Definitions).  I will forward a draft letter shortly.


Sold TXU 10,000 dth at $3.17 for Thur 4/18/02.  I checked on the price with Darren Farmer at AEP and he said that's where Waha was trading so I don't feel like we are being taken advantage of too much.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 16, 2002 10:12 AM
To:	Mazowita, Mike; Kelly, Katherine L.; Dinari, Sabra L.
Cc:	Germany, Chris; Hill, Garrick
Subject:	Lone Star sales for Wed 4/17/02

Sold TXU 10,000 dth at $3.27 for Wednesday 4/17/02.


Looks good; nice work. Let's get it out

Vance Meyer
06/11/2001 01:02 PM
To: Steven J Kean/NA/Enron@Enron, Mark Palmer/Corp/Enron@ENRON
cc:

Subject: Demonstration Procedure

This is the demonstration procedure for Enron offices.  It has been reviewed
by Security, Legal and at least 3 PR folks.  Provided you have no issues, I
recommend that we put it out from Mark's machine with a tip-on note to 1)
officers, 2) PR people, 3) security people.

Vance


I left out an important component of the call.  The lenders are considering
closing without the Furnas consent which would be the best of all worlds.
But we'll have to weigh the difference between what the bank wants for that
and forcing Furnas to sign.
mb

Robert C Williams
02/02/2001 07:34 AM
To: Michelle Blaine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: jgardine@skadden.com, drosenbl@skadden.com, John Novak/SA/Enron@Enron,
Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard B Sanders@ECT

Subject: Re: Cuiaba Call--legal issues

I want to get involved in this.  Michelle will bring me up-to-date.  I don't
understand why we are considering Brazilian court versus ICC arbitration.

Michelle Blaine
02/01/2001 07:36 PM
To: jgardine@skadden.com, drosenbl@skadden.com
cc: John Novak/SA/Enron@Enron, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard B Sanders@ECT, Robert
C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Cuiaba Call--legal issues

1. Consent Issue:  Jose Bestard (he's the main developer who did this deal)
reported that he met with Furnas this week.  Furnas had not received  EPE's
letter addressing the consent issue.  Furnas continues to link its failure to
sign the consent to commercial exposure to the high price from the MAE. There
are initials on the original consent and no one (including Furnas) knows
whose they are. John Novak told me he's not sure of the significance, but it
is not uncommon in Brazil to initial documents. Nevertheless, we need to ask
our Brazilian lawyers whether there is any significance under Brazilian law.
Keep in mind also that consent document was between EPE and the assignor,
Electronorte.

2.  Arbitration considerations:  Bestard has a meeting planned with the
ambassador.  He  consulted Enron's financial/business consultant in Brazil,
Winston Fernino (sp?) who advised that we should exhaust all political
avenues before resorting to litigation or arbitration.   What concerns me,
however, is  his advice that, politically, it is not the time to seek
assistance fromthe president for the consent, that there is a political
battle in the senate, and that we should wait until the end of February to
seek political assistance.  My view on that is, to wait 4 more weeks to
progress with this notice of default, when the 90 day cure period has
expired, plus the 30 day extension which has also expired, sends the wrong
message and weakens our position. Thus, it is my recommendation that we
proceed immediately with a notice to terminate under Clause 27, paragraph 2
of the PPA, which then requires a 30day consultation period (paragraph3) at
the end of which we have the option to terminate.  This buys us a little
time, but keeps the pressure on, at the end of which we can initiate
proceedings to compel the consent or to terminate.  I'm not sure what
reaction the notice to terminate could bring about from Furnas. I'm not sure
how that plays out in our settlement with Siemans. Consider also that the
commercial people are not comfortable with termination yet.  I am not sure
what rights, if any, we waive by waiting around doing nothing or how that may
affect our position in arbitration or litigation (something we need to look
at under the contract, although I cannot immediately recall any deadlines or
express waivers related to timing in this regard).  I committed that we would
advise the team on the next call (next Thursday) our recommendation with
respect to  arbitration/litigation.   I want to make sure they understand
every possibility so they can make an informed decision. You have the matrix
developed already if you want to expand on that, or handle that your own
way.  Bestard opines that Furnas will fight hard, that they have
traditionally been very adversarial and uncooperative. I'll find out who
represents them.

3. Force Majeure:   Furnas is also taking a very strong position that EPE
does not have a valid force majeure claim.  Based on my reading of the
contract, our facts appear to fit squarely under Clause 95(c).   However, I'm
told we did not comply strictly to the notice terms. We'll need to show that
we were not negligent as a cause for the attorney general's action.  Laine
Powell, President of the Cuiaba companies will gather the information on our
force majeure claim and we need to consider the legal issues related to our
position.    Note that if FM lasts more than 12 consecutive months, both
parties have the right to terminate.  No one buys the plant and we're stuck.
I'll find out the date of our last FM notice.  There have been several.

4.  Budget:  Lets consider what it will cost to nail down this arbitration
concern and give initial advice on how to proceed over the next week,  what
it will cost to prepare for arbitration and, the cost of the arbitration.
Darren I'll call you tomorrow and we can break that out.  We may want to
consider the litigation route. We'll need to put together some kind of
proposed or potential time line, and what will happen in each stage and tie a
number to it.  I've done this with Pete before and he seems to like it.  It
needs to be subject to review as we go along.

5.NEXT: Prep for the call and get a recommended strategy in place. I'm going
to get together all our opinions on the Brazilian state of arbitration and
get a conference call with one of these experts so we can get the best
advice.  We certainly have some conflicting views.  Our experience in the
Brazilian courts is that nothing happens and we could be stuck for years, so
I am inclined to take our chances with arbitration and we may get stuck in
the court anyway.  If we go to court, perhaps Furnas would take the position
that we must arbitrate, that is what Fernando Serec said.  Who knows.
Please give me your comments or just call me.  I'm open to any suggestions.
John Novak will be able to tell us about all the competing concerns that I
may be unaware of with any strategic plan.
Regards,
Michelle


Can you forward me some information regarding the French firm we discussed
last week?


Imelda,

Look on the Texas tab.  I've made some comments beside the names.  These
adjustments are for HPLC and Texas.  We no longer handel EFSC.

D

Imelda Frayre
04/05/2000 04:46 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Sitara Security

Daren, I'm in the process of updating the Sitara Security Administrator
database and I need to confirm that the necessary users have access to EFSC,
HPLC and Texas along with the correct roles.  I have attached a file that
lists the users that are currently in the database.  Please verify that these
users currently have access to the proper desk and have the correct role
given their function.  If there are some users that I have not listed, please
update that information in your reply.  If you have any questions or think
that I need to contact someone else for this request, please call me at
x35423.  Thanks for your help.

Imelda


This is to nominate 75,000 MMBtu/d into Eastrans for 3/4/2000 and following.

We will deliver 50,000 into PG & E, 7,000 from Fuel Cotton Valley (continue
750
MMBtu/d sale),
and  18,000 MMBtu/d into your cartwheel agreement at Carthage.


With the announcement of Enron's acquisition by Dynegy behind us, and with the initial severance process completed, it seemed an appropriate time to effect some organizational changes so that we as a group are better prepared to meet the challenges of the future.  Before I turn to the organizational changes, I would like to say a few words about those who will be leaving the company as a result of the initial severance (you'll know who they are by their absence on the organizational chart): Leading and being a part of this group has been a privilege?I am thankful for every day that I have had that responsibility and thankful for however long I continue to have the responsibility.  This sense of privilege and thankfulness is primarily driven by having had the opportunity to get to know and care about such a dedicated group of professionals and support staff and who, to a person, are also very decent and good people.  To say good-bye to some of our colleagues is not easy.  I want to, on behalf of all of us, thank them for their hard work, their integrity, their decency, and the good times and laughter that we shared.  I trust that many of us will find ways to sustain friendships that have been and will continue to be very special.  Thanks to each of you who are leaving for all you have done.

As to the organizational structure, it has become increasingly apparent to me that the existing organization, with a mix of groups organized along functional and regional lines (particularly within the U.S.), has impeded our ability to get things done in the most efficient fashion at times.  The need to rationalize the organizational structure, in order to consolidate all U.S. energy functions, is a strong need from my perspective.  As a result, Jim Steffes will lead the U.S. Energy group along with Sue Nord, who will jointly report to Jim and myself.  Sue will assist Jim in the leadership of the group and take on project management responsibilities as warranted to help Jim shoulder a significant burden.  Also reporting to Jim will be a leadership group for U.S. Energy that will be as follows:  Wholesale Electricity will be led by Christi Nicolay; Retail Electricity and Natural Gas will be led by Harry Kingerski; Wholesale Gas will be led by Leslie Lawner.   Last, but not least, Jeff Dasovich and Sue Mara, who will continue to focus on California energy issues, will report to Jim. (Sue Mara will also be part of the Wholesale electricity team).

Steve Montovano, who will continue to report to me, will lead a commercial development effort along with Dan Allegretti.

With the elimination of the regional groups, I also recognize that there is a need to continue to focus on how we as a group address our political/legislative needs across the U.S.  Paul Kaufman will lead a small group that will address that need and that will focus on state political support.  Paul will also take the lead for Government Affairs in support of corporate development efforts across the U.S.

Much of the rest of the group remains the same.  Linda Robertson will continue to lead the Washington group with Sarah Novosel, who reports to Linda, taking the lead role in our coordination of activities at FERC.  Amr Ibrahim will continue to lead the support of the Global Assets group and also continue to manage the Risk Analytics function.  Maggy Huson will take over support of the non-energy business units, which are as follows: Global Markets, Industrial Markets, Networks, and Broadband.  Rob Hemstock will continue to lead the support of Enron Canada.  Paul Dawson, who heads up government affairs for Europe; Sergio Assad, who heads up government affairs for South America; and Mike Grimes and Mark Crowther, who head up our Asian efforts, will continue to jointly report to the business units and myself.

I am also forming a North American leadership group for Government Affairs to provide policy guidance for the larger group and the company.  That Committee will consist of Rob Hemstock, Maggy Huson, Amr Ibrahim, Paul Kaufman, Harry Kingerski, Leslie Lawner, Steve Montovano, Christi Nicolay, Sue Nord, Sarah Novosel, Linda Robertson, Jim Steffes and myself.  We will also continue to have an RCR Committee that will consist of Maggy Huson, Harry Kingerski, Sue Nord, Linda Robertson, Jim Steffes & myself.  Finally, I am forming a Dynegy/Enron regulatory approvals working group that will consist of Jose Bestard, Paul Dawson, Paul Kaufman, Sue Nord, Sarah Novosel and myself.

No organizational structure or set of organizational changes is either perfect or permanent.  I believe these changes will make us better and more prepared for the future.  However, we must be prepared to further adjust as the future unfolds for the company.

One final note: I am deeply sorry that each of you has had to live through this uncertain and troubled period for the company.  We are all saddened by the recognition that we are in the midst of changes that will leave our group fundamentally altered, but we must resolve to do our best for each other and ourselves during this period of change to ensure that what emerges, for those of us who do remain a part of the new Dynegy, reflects the excellence and integrity that has characterized our group.  Personally, I will do all I can, for as long as I can, to steer the group through this to the very best place possible.  Your continued dedication and support is very much appreciated.  Hang in there and thanks.


Humberto:

Attached please find a Turbine Manifest that details delivery dates for all
24 turbines.

-Matt
(x33979)


Stinson:

I don't think Chonawee can do much in this time frame.  It's your call if you
want to go through the motions.

Grant.
---------------------- Forwarded by Grant Masson/HOU/ECT on 07/26/2000 09:21
AM ---------------------------

Derek Davies
07/25/2000 05:35 PM
To: Grant Masson/HOU/ECT@ECT
cc:
Subject: Re: Asset auctions?

Grant,
Thanks for all your help.

The auction is scheduled to commence a week Wednesday (Aug 2/2000).

Derek


Do you have an updated status on this issue?  Thanks.
PL

Russ Severson
01/23/2001 09:28 AM
To: Phillip M Love/HOU/ECT@ECT
cc: George Grant/HOU/ECT@ECT
Subject: Re: NGPL Nipsco

I have forwarded this message to Global Facilities, they set up locations,
after they set up the location, then we can map the curves.

Russ

Phillip M Love
01/23/2001 09:12 AM
To: Russ Severson/HOU/ECT@ECT
cc:
Subject: NGPL Nipsco

Can you please set this new location up, Nipsco/NGPL, with curves the same as
the original point, NGPL/Nipsco.  I believe they are as follows: gas daily
should be GDP-CHI. GATE, the intramonth should be NGI/CHI. GATE, and the Mid
should be NGI/CHI./NIPSCO.

Please shout with any questions.  Thanks for your help.
PL

---------------------- Forwarded by Phillip M Love/HOU/ECT on 01/23/2001
09:00 AM ---------------------------

	From:  George F Smith                           01/23/2001 08:08 AM

To: Phillip M Love/HOU/ECT@ECT
cc: Cora Pendergrass/Corp/Enron@ENRON, Margie Straight/HOU/ECT@ECT, Jason
Williams/HOU/ECT@ECT, Patrice L Mims/HOU/ECT@ECT
Subject: NGPL Nipsco

Phillip, Please move the following two deals from their current location,
NGPL/Nipsco, to a new location Nipsco/NGPL.  We are setting up Nipsco as it's
own pipeline so as to better track positions. Please make the change
effective Feb. 1.

Thanks, George


June checks out.

ds

-----Original Message-----
From: WYNDI Workman-Rodriguez [mailto:Wyndi_Workman-Rodriguez@pgn.com]
Sent: Wednesday, September 05, 2001 10:18 AM
To: DScholt@enron.com; wiz.ixgate:Virginia.Thompson@ENRON.com
Cc: Anne Snyder; BILL CASEY; Shari Johnson
Subject: June 2001

6/8 & 6/9:  Deal #637428.1 should have adder of $0.25, not $0.10.
6/8 PGE Sales total:  $91,473.40
6/9 PGE Sales total:  $91,473.40

6/21 :  EPMI missing 126mw LLH from both sales & purchases.  Check the preschedule sheet.
PGE Sales Total:  $311,819.60
PGE Purch Total:  $311,382.26

PGE Sales Totals:    $4,955,216.05
PGE Purch Totals:    $4,946,745.91


Attached in WordPerfect, at long last, are the final transaction
documents for Hawaii II.  These documents are marked to show minor,
clean up changes from the documents that were last circulated on the
closing date, November 20.  These changes are largely clean up in
nature.  Additionally, the Form of Swap Confirmation and waterfall in
the Trust Agreement were revised to cap the amount of money to be
swapped up to Enron Corp on payment dates other than the Final
Distribution Date, such that any amounts received by the Trust in excess
of an amount necessary to pay interest will be used to pay current yield
to the Certificate Hoder, and the remainder will be retained in the
Collection Account.  This change will only have any impact if the asset
is generating cash flow in excess of the amount due as interest on the
Notes.

Final closing binders will be distributed later this week.

The documents are identified as follows:

* Trust Agmt (265272)
* RADA (265275)
* Subscription Documents (265278)
* Facility Agreement (265273)
* Ex G1- TRS Confirm (268099)
* Ex G2 - Schedule (Permitted Swap Party) (265279)
* Ex G3 - Schedule (Enron) (266279)
* Ex H - Transfer and Auction Agmt (266163)
* Ex I, Part A - Amended and Restated LLC Agmt (266143)
* Ex I, Part B - Amended and Restated LLC Transferor (266137)
* Omnibus Amendment - McGarret A (266755)
* Omnibus Amendment - McGarret C (266950)
* Omnibus Amendment - McGarret D (267037)
* Omnibus Amendment - Danno B (267271)

Muriel C. McFarling
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, TX  75201
(214) 659-4461 (direct line)
(214) 659-4784 (direct fax)

 - 265272.wpd
 - 265273.wpd
 - 265275.wpd
 - 265278.wpd
 - 265279.wpd
 - 266137.wpd
 - 266143.wpd
 - 268099.wpd
 - 267271.wpd
 - 267037.wpd
 - 266950.wpd
 - 266755.wpd
 - 266279.wpd
 - 266163.wpd


Tanya:
Actually they are okay with our Guaranty.  I am waiting to get theirs and
will follow up with their counsel today.
carol


After nearly a year of work, we now have a tool to show us the meaning behind
our  MW volume.

I would like to thank the following people for their help on this very
difficult project:

Glenn Anderson - for a multitude of Enpower coding, the lion's share of the
work on this project.
Murray O'Neill and Dave Poston - for their assistance and knowledge in
project management and "developer-speak".
Dan Maxwell - for creating the final VB tool that was the capstone of the
project.

Thank you all for your very hard work, we have a product to be proud of!

Cara


Great - look forward to seeing you (bring a picture!).

-----Original Message-----
From: Germany, Chris [mailto:Chris.Germany@enron.com]
Sent: Tuesday, June 11, 2002 7:55 AM
To: Fraser, Bill; Hunt, Lindsey; Scott Goodell; Silby, Joe M.
Subject: RE: June 11

Hey team.  I had every intention of being there this morning (even though I was running late) but my daughter was awake and  I couldn't resist spending time with her.  I'll be there next week.

-----Original Message-----
From: Fraser, Bill [mailto:BFraser@reliant.com]
Sent: Monday, June 10, 2002 2:58 PM
To: Germany, Chris; Hunt, Lindsey; Scott Goodell; Silby, Joe M.
Subject: June 11

Guys,
Joe informed me he cannot attend tomorrow AM and I'm assuming Chris is out until further notice.
Scott and Lindsey - please let me know if you plan to attend.  I'm inclined to go ahead if you both can make it, or cancel if one of you cannot.

Thx!
Bill

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
**********************************************************************


FYI

-----Original Message-----
From: Trevino, Susan
Sent: Monday, April 22, 2002 9:38 AM
To: faulkjb@texaco.com; Green, Michael; gregory.schockling@bhlp.com;
Hagelmann, Bjorn; hugh.connett@bhlp.com; maedajr@texaco.com; Mihalik,
Trevor; Miller, Don (Asset Mktg); Parks, Joe; randall.curry@bhlp.com;
Zisman, Stuart
Cc: Abel, Chris; Leuschen, Sam
Subject: 4/19 Bridgeline DPR

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
**********************************************************************


-----Original Message-----
From: 	"Bruning, Dianne" <Dianne.Bruning@Bmo.com>@ENRON
Sent:	Thursday, November 01, 2001 1:30 PM
To:	Taylor, Mark E (Legal)
Cc:	DeVeny, David
Subject:	FW: Ring Trades

Dear Mark,

I received your voicemail and apologize for the delay in responding to you.
I have reviewed the language proposed below and we agree that we are willing
to include this language in the confirmations with respect to the off market
trades in question.

Please do not hesitate to contact me directly if you need any further
information from me.

Best regards,

Di Bruning
Legal Counsel
Commodity Derivatives Group
Bank of Montreal

-----Original Message-----
From: DeVeny, David
Sent: Wednesday, October 31, 2001 4:16 PM
To: Bruning, Dianne; Whitmore, James B.
Cc: Moore, Robert B., Jr.
Subject: FW: Ring Trades

Dianne:

How should I reply to this message.

Thanks,
David

-----Original Message-----
From: Storey, Geoff [mailto:Geoff.Storey@ENRON.com]
Sent: Wednesday, October 31, 2001 3:47 PM
To: DeVeny, David
Subject: Ring Trades

David,

Thanks for your patience. We are working hard on getting Coral and BP
North America on board with the ring trades.

I have another counterparty that may want to ring out some ATM Chicago
basis. Let me know about that.

I have also enclosed the language that would tie all these trades
together.

Thanks,

Geof Storey
713-853-7058

Each of the parties to this Agreement recognizes and acknowledges that
the parties are acting and agreeing to perform their obligations
hereunder in reliance upon (i) the timely execution and delivery by
[legal name of other counterparty] ("Third Party") and Party A of a
transaction in substantially the form attached hereto as Exhibit A
("Third Party Transaction A") and would not otherwise agree to execute,
deliver and perform under this Agreement if Third Party and Party A were
not contemporaneously executing and delivering Third Party Transaction A
and (ii) the timely execution and delivery by Third Party and Party B of
a transaction in substantially the form attached hereto as Exhibit B
("Third party Transaction B") and would not otherwise agree to execute,
deliver and perform under this Agreement if Third Party and Party B were
not contemporaneously executing and delivering Third party Transaction
B. The effectiveness of this Agreement shall be subject to the condition
that contemporaneously with the execution and delivery of this Agreement
Party A and Third Party execute and deliver Third Party Transaction A
and Party B and Third Party execute and deliver Third Party Transaction
B.

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************

****************************************************************************
This e-mail and any attachments may contain confidential and privileged information. If you are not the intended recipient, please notify the sender immediately by return e-mail, delete this e-mail and destroy any copies. Any dissemination or use of this information by a person other than the intended recipient is unauthorized and may be illegal. Unless otherwise stated, opinions expressed in this e-mail are those of the author and are not endorsed by the author's employer.


Please, remove me from the list.

spawn@aclnet.cz on 12/09/2000 06:31:36 AM
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I went by the store on my way home and saw a Pillsbury mix with red and green
confetti in it - decided that cupcakes would be simpler than cookies.  Since
it was after 10:00 when I got started on this project, it turned out be a
good decision.  I would like your recipe so that when we are doing baking for
the family next week that I can use it.

"Cindy White" <cwhite@viviance.com> on 12/14/2000 01:01:21 PM
To: "Sally" <sally.beck@enron.com>
cc:
Subject: cookies

Did you get your cookies made?

Cindy


Thanks to all of you, Enron North America has had an outstanding year in
2000.  Some of the more notable accomplishments include:
a) 100% plus increase in EBIT from 1999 actuals to 2000 forecast;
b) significant rationalization of the balance sheet including the sale of the
(i) Wind River/Powder River gathering assets, (ii) East Coast Power
generating assets, (iii) HPL and (iv) five of the six Eastern Peakers;
c) ENA is the leading energy merchant by a factor of two;
d) physical electricity volume grew by 34% YTD 1999 to YTD 2000 forecast;
e) natural gas volumes grew by 82% YTD 1999 to YTD 2000 forecast;
f) 500% growth in daily transactions from November 1999 to November 2000 due
to the highly successful Enron OnLine distribution channel; and
g) ENA reaching its 25% ROCE target.

These are truly outstanding accomplishments and our expectations for growth
and opportunity in Enron North America for 2001 are consistent with that
success.  In order to reach these goals, we felt it necessary to re-align a
number of our organizations. A number of these changes are completed.  The
goals of such re-alignment include:
a) increase overall productivity with the goal to ensure that every employee
is in a position to contribute regardless of skill set;
b) increase overall market coverage, deal flow and information generation
with the goal to increase bid/offer income, increase the velocity of deal
flow, improve customer coverage and promote quality information transfer to
our trading organization;
c) increase deal quality and earnings quality with the goal to (i) allocate
our resources towards the best transactions and (ii) significantly increase
our &mid-market8 originated transactions in our portfolio;
d) promote real time decision making and a closer tie between our trading and
origination (mid-market and structured) organizations in order to better
align those functions to reduce the amount of un-productive internal focus;
e) increase the overall velocity of the capital being utilized consistent
with our goal of a 25% plus return on capital employed; and
f) identify and recognize a host of new leaders in the organization that are
critical to meeting our goals next year.

With these objectives in mind, patterned after the successful business models
in Calgary and Portland, effective immediately the following changes are
being implemented:
a) East Power ) a single East Power Team incorporating trading, mid-market
and origination will be formed under the co-leadership of Kevin Presto and
Janet Dietrich who will report to the Enron Americas - Office of the Chairman
(EA OOC).  This team will have one income statement, one book and a joint
accountability. However, a clear delineation of responsibilities inside these
teams will continue to exist in which the trading organization will manage
the risk, income statement and product development aspects of the
partnership. The originators will have the primary responsibility to generate
origination income, provide coverage, deal flow, lead strategy formulation,
provide information and generate strategic positions.  Overall, the team will
be rewarded based upon increasing the value of the book, meeting
coverage/deal flow targets and meeting its strategic/growth goals in the
Eastern power markets. The team will be responsible for covering the IOU,s,
muni,s/co-ops, industrials and IPP,s and will utilize all ENA,s product
capabilities including the power commodity, assets and capital. The team will
further be broken down into several key strategic regions and business units
including:
  (i) ERCOT ) managed by Doug Gilbert Smith and Bruce Sukaly;
  (ii) NE ) managed by Dana Davis and Jeff Ader;
  (iii) Midwest ) managed by Fletch Sturm and Ed Baughman;
  (iv) SE ) managed by Rogers Herndon and Ozzie Pagan;
  (v) East Power Development ) managed by Ben Jacoby;
  (vi) East Power Structuring  - managed by Bernie Aucoin; and
  (vii) East Power Fundamentals and the &Genco8 ) managed by Lloyd Will

b) West Power ) there will be no changes to the Portland office which is
managed by Tim Belden and Chris Calger .  Both Tim and Chris will continue to
report to the EA OOC.
c) Canada and Mexico ) there will be no changes to the Canadian or Mexican
offices which are managed by Rob Milnthorp and Max Yzaguirre respectively.
Both Rob and Max will continue to report to the EA OOC.
d) U.S. Natural Gas ) there are several changes anticipated in this business
consistent with the goals and objectives described above. The changes
primarily affect the East, Central, West and Texas gas regions. Each region
will consist of a single gas team incorporating trading, mid-market and
origination. Each team will have one income statement, one book and a joint
accountability. However, a clear delineation of responsibilities inside these
teams will continue to exist in which the trading organization will manage
the risk, income statement and product development aspects of the
partnership. The originators will have the primary responsibility to generate
origination income, provide coverage, deal flow, lead strategy formulation,
provide information and generate strategic positions. Overall, the team will
be rewarded based upon increasing the value of the book, meeting
coverage/deal flow targets and meeting its strategic/growth goals in the
Eastern, Western, Central and Texas gas markets.  The team will be
responsible for covering the LDC,s, muni,s/co-ops, industrials, IOU,s, IPP,s
and the producers.  There will be an increasing focus on the upstream side of
the business including the producers, transporters and storage providers in
addition to market area opportunities. The team will utilize all of ENA,s
product capabilities including the gas commodity, assets and capital. Each of
these groups will report directly to the EA OOC;
East Gas ) a single East Gas Team incorporating trading, mid-market and
origination will be formed under the co-leadership of Scott Neal and Frank
Vickers who will be returning from Portland to join this team.
West Gas  ) in a similar manner, a West Gas Team will be formed co-managed by
Phillip Allen and Barry Tycholiz, who will be joining us in Houston from the
Canadian team. The Denver office under Mark Whitt will be integrated under
this team.
Central Gas )  in a similar manner, a Central Gas Team will be formed
co-managed by Hunter Shively and Laura Luce. The Chicago office will be
integrated into this team.
Texas Gas ) the Texas Gas Team will be managed by Tom Martin. This team will
continue to manage the gas trading business around HPL until the pending sale
is concluded in Q2 2001.  After the sale of HPL, this team will build a Texas
gas business without ownership of the HPL assets.
Financial ) this group will continue to be managed by John Arnold with no
significant changes.
Derivatives ) this group, lead by Fred Lagrasta, will offer derivative and
financial mid-market products and services to the natural gas market
specifically targeting CFO,s and treasury departments.  Fred will continue to
maintain certain existing mid-market accounts with a number of producer and
industrial accounts where relationships are well formed. Otherwise,
mid-market coverage will gravitate to the regions. The New York office gas
marketing efforts will continue to be managed by Fred.
Upstream Products ) this group, lead by Jean Mrha, will develop several
distinct product offerings for the upstream segment of the gas market.  This
group will develop and market the product in conjunction with the regions.
This is consistent with our desire to have a broader product offering and
greater market penetration in the upstream segment.  These products include
producer outsourcing, similar to our successful Petro-Canada and Suncor
relationships in Canada, physical storage re-engineering, compressor
services, wellhead liquidity products and offshore asset and capital
products.  In addition, Jean will manage our Bridgeline joint venture with
Texaco.
Gas Structuring ) this group will be lead by Ed McMichael, reporting to Frank
Vickers, will provide structuring and deal support to all the gas teams.
Gas Fundamentals ) this group will be lead by Chris Gaskill, reporting to
Hunter Shively, will provide fundamentals to all the gas teams.

Julie Gomez will continue to support the gas floor through several identified
projects including long-term supply/demand analysis and, natural gas
transportation capacity trading opportunities.

There is an expectation of some customer overlap between the gas and power
groups; for example, the combination utilities and the IPP,s.  The teams will
coordinate with regard to the combination utilities like Con. Edison or
PG&E.  With regard to the IPP,s, to the extent that the product offering
involves an underlying power position, the power teams will manage. We have
asked Janet Dietrich to coordinate such overlaps between the two
organizations in Houston.

e) Technical/Restructuring - In the effort to consolidate and centralize our
technical resources (engineering, development, operations, pipeline) to
ensure that this skill base is available to all ENA groups and utilized
productively across the organization, Brian Redmond will form and manage the
Technical Services Group.  This group will manage ENA,s technical risks and
will provide, on a cost basis, technical services for the entire ENA
organization. This group will manage the interface with EE&CC and OEC.  In
addition, the Restructuring Group, currently managed by Dick Lydecker, will
report to Brian Redmond.  This group is currently monetizing a large portion
of the merchant investment portfolio given our current strategies.  This
group will have continuing responsibility to manage troubled commodity and
capital transactions that need considerable time and attention to manage risk
and monetize.

In addition to these responsibilities, Brian will manage the pending sale and
transition of the HPL asset over the next couple quarters as regulatory and
securities approvals are obtained in order to complete the sale.  Brian will
report to the EA OOC.

f) Principal Investing  )  with the departure of Jeff Donahue to new
opportunities in EBS, ENA,s venture capital function will be managed by
Michael L. Miller.  This group makes small investments in distributed
generation, power quality and technology companies that can benefit from
Enron,s distribution channels and expertise.  Michael will report to the EA
OOC.

g) Corporate Development ) Tim Detmering will assume the corporate
development responsibilities for ENA as Jeff transitions to his new role and
will report to the EA OOC.

h) Generation Investments ) there will be no changes to this group managed by
Dave Duran. Dave will continue to report to the EA OOC.

i) Energy Capital Resources ) there will be no changes to this group
currently lead by C. John Thompson and Scott Josey.  John and Scott will
continue to report to the EA OOC.

As a final note in the interest of keeping things simple, Enron Americas will
have two operating divisions  - Enron North America and Enron South America.
As a result, we will continue to conduct business under these two operating
companies; therefore, eliminating the need to change legal entities et al.
If you are currently a commercial employee of ENA or ESA you will continue to
conduct business in that company.

We look forward to another exciting year in the North American energy
market.  This is certainly a company unrivaled in the marketplace with the
most talented employees.  The opportunities are endless.  We wish you and
your family a very happy and safe holiday season.


-----Original Message-----
From: 	Veronica Tapia <vtapia@PULSAR.COM.MX>@ENRON [mailto:IMCEANOTES-Veronica+20Tapia+20+3Cvtapia+40PULSAR+2ECOM+2EMX+3E+40ENRON@ENRON.com]
Sent:	Wednesday, June 06, 2001 11:04 AM
To:	Storey, Geoff
Subject:	RE: June 9th

My flight schedule:
 Monterrey - Houston - San Diego
June 7h, CO3564B- arrives to Houston at 12:37 pm and leaves at 2:25 pm on gate 4B
Return:
June 9th, CO372T- arrives to Houston at 2:40 pm and leaves 6:25 pm on gate 8A.
Can you gus come on Sunday????? If so, where shoul I meet you?


Lance,

Any interest?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/09/2000
04:33 PM ---------------------------

Energy Info Source <custsvc@energyinfosource.com> on 11/03/2000 09:30:52 AM
To:
cc:
Subject: Transmission Report 2000

Energy Info Source is privileged to introduce its Transmission Report 2000.
 The report is a comprehensive 150-page study of the U.S. Transmission
industry. The report takes a wide-ranging look at changes in the industry
with a heavy emphasis on FERC,s drive for RTOs. A major component of the
report will be detailed analysis of the FERC-mandated RTO filings by ISOs
and IOUs that make the October 15th filing.

Topics covered in the report include:
- The History of Transmission in the U. S.
- The Impact of FERC Orders 888 and 889
- The Creation of ISOs
- FERC,s Push Toward RTOs through the Merger Approval Process
- The Creation of TransCos
- Detailed Analysis of FERC Order 2000
- Detailed Discussion, Analysis, and Comparison of October 15 RTO Filings
-- including Innovative Rate Treatments
- Listing of All FERC Dockets and Policy Statements Regarding RTOs
- Maps of Proposed TransCo and RTO Territories

The report comes in Adobe Acrobat PDF format and is available via email
(4.0 MB file) for $689 or on CD-ROM for $699.

For more information about the report or to order, click on the following
link or call us at 888-986-2250.  We accept Visa/Mastercard/American Express.

http://www.energyinfosource.com/aoi/transmission-report.cfm

Also be sure to check out our new Transmission area of interest for the
latest Transmission news and information at:

http://www.energyinfosource.com/aoi/transmission.cfm

----------------------
If you want to be removed from our mailing list or for more information:

Energy Info Source, Inc.
email: custsvc@energyinfosource.com
phone: 888-986-2250


---------------------- Forwarded by Kathleen E Magruder/HOU/EES on 04/20/2000
01:11 PM ---------------------------

Jessie Knight <JKnight@sdchamber.org> on 04/19/2000 02:08:53 AM
To: "'kmagrude@enron.com'" <kmagrude@enron.com>
cc:
Subject: PR release

Kathleen,
     I hope some version of the attached serves your purpose.  Please feel
free to take editorial license as I granted per our conversation.

Enron has exercised the most compelling business model, one that has been
starved from the industry's natural evolution by regulatory and
protectionist strictures.  This initiative affirms why many of us early
pioneers fought to create full customer choice in the beginning. It will
prove to be a key moment in the renaissance of this industry.
Jessie J. Knight Jr.
President and CEO
San Diego Regional Chamber of Commerce <http://www.sdchamber.org/>

Internet Services provided by net <http://www.znet.com/>


---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 04/30/2001
07:45 AM ---------------------------

	From:  Larry Joe Hunter                           04/27/2001 05:10 PM

To: Jeffrey C Gossett/HOU/ECT@ECT
cc: Julie Brewer/NA/Enron@Enron
Subject: Termination of EnronOnline Trades

Jeff,

Can you pass on the message below to all of risk.  For EnronOnline, no trades
should be "reversed" in TAGG.  Simply kill the deal and we'll take care of
the documentation.

thanks,
Joe Hunter

---------------------- Forwarded by Larry Joe Hunter/HOU/ECT on 04/27/2001
05:08 PM ---------------------------
From: Tana Jones on 04/27/2001 04:38 PM
To: Kim S Theriot/HOU/ECT@ECT
cc: Mark Greenberg/NA/Enron@ENRON, Mark Taylor/HOU/ECT@ECT, Jeffrey T
Hodge/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Marcus
Nettelton/NA/Enron@ENRON, Elizabeth Sager/HOU/ECT@ECT, Alan
Aronowitz/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT
Subject: Termination of EnronOnline Trades

Per my discussion with Mark Taylor and our conversation today, attached is
the form of Termination Agreement that should be used when terminating
EnronOnline mistake or "oops" trades.  The trades should continue to be
initially run past the Legal Department to determine whether there are any
unusual circumstances surrounding the trades, but absent unusual
circumstances, Legal will then pass the trades on to the Confirmation Desk
for preparation of the Termination Letter and further handling.  These same
procedure should apply to physical as well as financial transactions.

Since this is a contract, the agreement will require the initials of a lawyer
and signature of a VP or above for the relevant company.  The Termination
Letter should be brought to the appropriate Legal Group for signature.

The current policy with respect to mistake trades is that the trade should be
terminated.  Reverse trades should not be entered into.

If you have any questions, please call.


Dale is working with the origination team on a deal named "Coyote II" (the
sale of the possibility of building a power plant near  the watermelon
growing capital of eastern Oregon).  The deal has reached one of several
"final stages" of great intensity and the idea of a basis swap has been
thrust into the commercial mixture as a possible solution to various
problems.  We very much need you help to sort through the issues.  It begins
with a question about characterization:  when Dale advised the team that
swaps had to go throug the Houston channels the response was:  "oh, its not a
financial swap,  its a physical swap.  So, here we go.---cgy
---------------------- Forwarded by Christian Yoder/HOU/ECT on 02/14/2000
08:26 AM ---------------------------

Laura Wente
02/11/2000 04:59 PM
To: Christian Yoder/HOU/ECT@ECT
cc:
Subject:

See the attached.


No. It looks like these are all the deals Christian Yoder and our other
lawyers are working on. Christian is writing up confirms for these, and
actually has a few of them done. He said he'd be contacting Sharen Cason and
faxing her copies of the finished letters very soon.

Please let me know if you need me to add comments to these deals to make it
more clear. I'm going to talk further with Christian and Val Sabo on my end
to better understand what the DEAL is with these deals, because they've been
plaguing me all day.

I'll keep you posted on the progress of this, but in the meantime you don't
have to send revised confirms.

Thanks,
Kate

Kimberly Hundl@ENRON
01/02/2001 07:51 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: EESI Deals

HAPPY NEW YEAR!!! Hope you had a great holiday!
These EES deals were all changed by Carla so they're all in "Pending
-Revised..." status in the system.  It looks like Carla made some changes,
but then changed it back.  Can you please ask her if we need to send revised
confirms on any of these deals.
486972
486988
486992
486996
487005
487024
487042
487057
487060
Thanks for your help!
Kim


I want to go to this on Thursday.  I rsvp'd myself.
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/13/2001 10:32
AM ---------------------------
   ENA Public Relations
From: ENA Public Relations on 02/12/2001 10:21 PM
Sent by: Enron Announcements
To: All_ENA_EGM_EIM
cc:
Subject: EWS Brown Bag Lunch

MARK YOUR LUNCH CALENDARS NOW !

You are invited to attend the EWS Brown Bag Lunch Series

Featuring OZZIE PAGAN

Topic:  East Power
Origination & Trading

Thursday, February 15, 2001
11:30 am - 12:30 pm
EB 5C2

You bring your lunch,            Limited Seating
We provide drinks and dessert.           RSVP x 5-7352


-----Original Message-----
From: 	"Zerilli, Frank" <fzerilli@POWERMERCHANTS.COM>@ENRON [mailto:IMCEANOTES-+22Zerilli+2C+20Frank+22+20+3Cfzerilli+40POWERMERCHANTS+2ECOM+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 23, 2001 11:25 AM
To:	'jarnold@enron.com'
Subject:

3 Trades EFP Style....

500 lots-Duke Energy (using Prudential)
1000 lots AEP Energy (using PFS)
1000 lots Williams Energy (using Paribas)

You are selling futures and buying LD SWAPS

NYMEX posting price is $2.775

Thank You