W E D N E S D A Y   E X T R E M E   M A R K E T S
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December 13: The CRB Index trended lower by 2.59 points to 227.32. The
US Dollar Index rose 0.44 points to 114.71.

The Dow Industrials rose 26.17 points, at 10794.44, while
the S&P 500 dropped 11.08 points, last seen at 1360.10. The
Nasdaq Composite edged lower 108.97 points to 2822.80.

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E X T R E M E   M A R K E T   C O M M E N T A R Y
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The STOCK INDEXES The Nasdaq and S&P's closed lower on Wednesday as
chip and hardware stocks fell due to concerns over corporate profits.
Salomon Smith Barney lowered its rating on the chip equipment group,
citing a capital-spending freeze of up to six months at Intel. The
Dow closed higher on Wednesday due in part to strength in Philip
Morris, J.P. Morgan and Johnson & Johnson. Early strength tested last
week's high crossing at 10,917.30, which marks short-term resistance.
Multiple closes above this resistance level would open the door for a
possible year end rally that could lead to an eventual test of last
spring's high crossing at 11,425.40 later this winter.

INTEREST RATES March bonds gapped up and surged to a new contract
high thereby renewing this fall's rally. Weakness in the Nasdaq and
S&P's underpinned today's rally in bonds in part due to a safe-haven
move by some investors. Today's high-range close sets the stage for
sharply higher prices on Thursday should November's Producer Price
Index come in weaker than expected. If the rally in March bonds
continues, weekly resistance crossing at 106-10 is the next upside
objective later this winter.

CRB INDEX extended Tuesday's loss and confirmed a downside breakout
below the lower boundary of this month's symmetrical triangle and
filled November's gap at 227.58. Today's decline confirms the rally
off the late-October low has come to an end while marking a broad
double top on the daily chart. If the decline continues, fib support
crossing at 225.87 is the next downside target. Much of today's
pressure was due to weakness in precious metals, foods, fiber, and
energies.

ENERGIES The energy markets closed sharply lower on Wednesday due to
liquidation of Brent crude oil ahead of Thursday's January contract
expiration. The sell off was some what of a surprise following recent
industry data, which showed crude and heating oil stocks fell last
week and indications that Iraq has not fully resumed crude oil sales.
February crude oil posted a key reversal down today thereby ending
this week's short covering rebound. Additional weakness on Thursday
is needed to confirm today's reversal pattern. If this fall's decline
resumes, fib support crossing at 27.37 is the next target. February
heating oil also closed sharply lower on Wednesday and is challenging
key support crossing at 88.10. Multiple closes below this support
level could lead to a test of the 38% retracement level of the
1999/2000- advance crossing at 84.11 later this winter.

CURRENCIES the March Dollar closed higher on Wednesday as it renewed
its short covering rebound off last week's low. Today's rally was
underpinned by Tuesday's U.S. Supreme Court decision to halt the
manual recount thereby giving the election to George W. Bush.
Momentum indicators have turned bullish signaling sideways to higher
prices into the end of the year are possible. Today's mid-range close
leaves the door open for sideways trading on Thursday. The March
Swiss Franc and D-mark closed lower on Wednesday as they extend their
declines off last week's highs. Momentum indicators have turned
bearish warning additional weakness into the end of the year is
possible. The March Japanese Yen plunged to a new contract low in
overnight trading and held onto those losses during the day session.
Concerns over the Japanese economy and the U.S. Supreme Court ruling
triggered the sell off. The door is open for a test of last
February's low crossing at .8978 then fib support crossing at .8774
later this winter.

PRECIOUS METALS were closed lower on Wednesday. February gold resumed
its decline off last week's high and closed below November's uptrend
line crossing near 271.80 thereby confirming a short-term top has
been posted. Momentum indicators are bearish signaling sideways to
lower prices into the end of the year are possible. Support begins at
266.80. March silver also closed lower on Wednesday ending this
week's short covering bounce. Today's new low close for the week and
test of support crossing at 4.69 sets the stage for additional
weakness into the end of the year. If the decline continues, weekly
support crossing at 4.56 cents is March's next target. March copper
extended Tuesday's loss in relatively narrow trading but pulled up
short of testing November's uptrend line crossing near 87.75. A short
covering bounce ahead of the close tempered some of today's losses
leaving the door open for additional short covering on Thursday.
Nevertheless, momentum indicators are overbought and turning bearish
signaling additional weakness near-term is possible. Closes below
November's uptrend line would confirm a top and trend change has
taken place.

GRAINS closed mixed on Wednesday. March corn posted a key reversal up
Wednesday due to expectations that tomorrow's export sales report
will show a significant improvement from recent weeks. Confirmation
of improving export sales on Thursday could lead to further short
covering thereby turning a number of momentum indicators neutral to
bullish. Such a turnaround in the near-term price outlook could lead
to year-end rebound however, it will take closes above 2.22 1/4
before a low is confirmed. March wheat closed lower on Wednesday as
traders are struggling to find direction following Tuesday's key
reversal down in the face of a friendly supply and demand report.
Traders remain concerned over lagging export sales and expect to see
another week of slow export sales in Thursday's report. March is
challenging trading range support crossing at 2.69. If this support
level is broken, the fall low at 2.63 1/2 then long-term support at
2.50 are possible targets. Momentum indicators are bearish signaling
additional weakness is possible.

SOYBEAN COMPLEX closed mixed on Wednesday. March beans managed to
squeak out a fractional gain on Wednesday as it continues to
consolidate below the 75% retracement level of this fall's decline,
which crosses at 5.20. While Tuesday's supply and demand report was
friendly, the increase in export sales and drop in carryout was
already factored into prices. March beans are at a crossroads as a
lack of fresh news is limiting gains while solid demand continues to
underpin the market. Closes above 5.20 or below trendline support
crossing near 5.12 are needed to clear up near-term direction in the
market. March soybean meal closed slightly lower on Wednesday due to
light profit taking as it consolidated some of its recent gains.
March continues to extend the late-fall trading range despite
Tuesday's friendly supply and demand report. Closes above 189.50 or
below 182.30 are needed to clear up near-term direction in the
market. March bean oil posted an inside day with a slightly higher
close due to light short covering as it consolidated some of this
week's losses. However, today's low-range close leaves the door open
for a resumption of the decline off this month's high. Momentum
indicators are bearish signaling a test of November's low crossing at
15.05 is possible later this winter.

LIVESTOCK closed steady on Wednesday. February hogs posted a quiet
inside day with a steady close as it consolidated some of Tuesday's
loss. However, momentum indicators are diverging and turning bearish
warning traders that a broad double top may have been posted with
Monday's spike high. A resumption of this week's decline on Thursday
would set the stage for a test of trendline support crossing near
57.50. If the late fall rally resumes, weekly resistance crossing at
63.30 is the next upside target. February cattle also closed steady
after early strength tied to winter storm concerns and expectations
for higher cash bids gave way to light profit taking ahead of the
close. Today's high fell short of testing weekly resistance crossing
at 77.92. Momentum indicators have become very overbought warning
traders that much of the bullish news from higher cash and product
prices underpinned by surprisingly strong demand may have already
been discounted in prices. Closes below Tuesday's low at 76.50 would
be a clear warning to bulls that a short-term top may be in or near.

FOOD & FIBER markets were mixed on Thursday. March coffee posted
another quiet inside day with its lowest close ever while May fell
within 20 cents of the contract low. Forecast for rain across
Brazil's coffee growing region this weekend combined with last week's
bearish world crop estimate continues to weigh on prices. March cocoa
gave us the short covering bounce we were looking for following
Tuesday's high-range close. Additional short covering is possible
however, upside potential appears limited in the face of continued
origin selling that may last into the end of the year. March sugar
finally resumed its decline off November's high after drifting
sideways for the past week and a half. Renewed fund and speculator
selling due to a lack of cash trade activity triggered today's plunge
to new lows. Momentum indicators are bearish signaling sideways to
lower prices are possible. If the decline continues 930, then 867 are
the next targets. March cotton extended Tuesday's trendline breakout
thereby confirming this week's gap marked a downside breakaway gap.
Today's loss sets the stage for a likely test of October's low
crossing at 63.75 cents later this winter. Bearish fallout from
Tuesday's negative supply and demand report continues to weigh on
prices. I would not be surprised to see a short covering bounce on
Thursday especially if export sales come in above pre-report
expectations.

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T O P   N E W S
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STOCKS

Japan Stocks Review: Up 0.4% as US ruling boosts Nasdaq futures
http://news.ino.com/summary/?id=24067
US Equities Review: Nasdaq down 3% on profit woes; DJIA climbs
http://news.ino.com/summary/?id=24076
UK Stocks Review: FTSE 100 closes flat in low volumes
http://news.ino.com/summary/?id=24075

FOREX

US FX Review: Dollar up on Bush's Supreme Court victory
http://news.ino.com/summary/?id=24069
Asia FX Review: Dlr/yen hits new year high on BOJ tankan, US politics
http://news.ino.com/summary/?id=24066
Europe FX Review: Dlr off early highs, but Gore aids at close
http://news.ino.com/summary/?id=24068

CREDIT

US Credit Review: Treasuries jump on weak retail sales report
http://news.ino.com/summary/?id=24064
Europe Credit Review: Bonds unfazed by Gore concession reports
http://news.ino.com/summary/?id=24071
Japan Credit Review: Mar plunges to offset gains on weak BOJ tankan
http://news.ino.com/summary/?id=24074

COMMODITIES

US Futures Summary: Energy plummets; sugar, juice sag
http://news.ino.com/summary/?id=24073
Japan Commodity Summary: Japan's Tokyo, Yokohama agricultural commodities
futures prices
http://news.ino.com/summary/?id=24070
CRB Outlook: Starting slightly firmer on cocoa and platinum
http://news.ino.com/summary/?id=24072

EXCHANGES

PCX Board Approves Demutualization, Screen-Based Trading
http://news.ino.com/press/index.cgi?release=23022
Pacific Exchange to Trade Eleven New Options
http://news.ino.com/press/index.cgi?release=23021
10 Major Clearing Organizations Call For Global Central Clearing
http://news.ino.com/press/index.cgi?release=23020
OM Stockholm Announces New Fee Structure
http://news.ino.com/press/index.cgi?release=23019
EEX Derivatives Market Starts In First Quarter 2001
http://news.ino.com/press/index.cgi?release=23018

____________________________________________________________________________

E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/

WINNERS

DBU1   Butter Sep 2001                           125.525     3.525  +2.92
XNH1   Treasury Notes 10yr Mar 2001            104 07/32     82/32  +2.48
PNJ1   Propane Apr 2001                           0.5410    0.0100  +1.83
XHZ0   Lean Hogs Dec 2000                          58.82      0.95  +1.65
LHZ0   Lean Hogs Dec 2000                         58.875     0.950  +1.65
AGZ1   Silver 1,000 oz. Dec 2001                   4.990     0.080  +1.59
LBH1   Random Length Lumber Mar 2001              233.10      3.10  +1.34
BEH1   Brazilian EI Bonds Mar 2001                 91.80      1.10  +1.20
BRZ1   Brazilian Real Dec 2001                   0.47650   0.00500  +1.06
SYH1   British Pound/Japanese Yen Mar 2001        161.21      1.64  +1.03

LOSERS

NGF1   Henry Hub Natural Gas Jan 2001              7.537    -0.608  -6.46
HOF1   Heating Oil Jan 2001                       0.9097   -0.0515  -5.24
PAM1   Palladium Jun 2001                         888.45    -37.70  -4.12
NDZ0   NASDAQ 100 Index Dec 2000                 2745.00   -121.50  -4.08
CLZ6   Light Sweet Crude Oil Dec 2006              21.08     -0.87  -3.92
GIZ0   Goldman Sachs Commodity Index Dec 2000     240.05     -9.70  -3.77
TKH1   PSE Tech 100 Mar 2001                      896.00    -34.00  -3.66
PBQ1   Frozen Pork Bellies Aug 2001               67.875    -1.925  -2.70
OJF1   Orange Juice Froz. Conc. #1 Jan 2001        81.10     -2.05  -2.46
SBH1   Sugar #11 World Mar 2001                     9.41     -0.23  -2.38
____________________________________________________________________________

E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

SPLN   SPORTSLINE.COM INC                          6 5/8   1 18/32  +30.86
MTON   METRO ONE TELECOMMUN                           23   4 14/32  +24.07
SMDK   SMARTDISK CORP                            5 14/32    1 2/32  +23.94
SBSA   SPANISH BROADCASTING SYS'A'                     7   1 10/32  +22.83
CMTL   COMTECH TELECOMMNS                             14     2 3/8  +20.88
MAXY   MAXYGEN INC(IPO)                               27   4 27/32  +20.18
NTOP   NET2PHONE INC                            11 22/32     1 7/8  +19.23
PGTV   PEGASUS COMMUNICATIONS'A'                      22     3 3/8  +18.12
CSCC   THRUSTMASTER INC                           12 3/8     1 7/8  +17.86
OVTI   OMNIVISION TECHNOLOGIES                  10 30/32   1 18/32  +17.36

LOSERS

HDIIU  HYPERTENS'N DIAGNOSTIC UNIT                     7    -2 3/4  -27.50
RSYS   RADISYS CORP                               21 1/2  -6 22/32  -23.73
ONNN   ON SEMICONDUCTOR CORP                     6 19/32   -2 2/32  -23.57
PHHM   PALM HARBOR HOMES                              13  -3 23/32  -23.38
AVSR   AVISTAR COMMUNICATIONS                      5 5/8    -1 3/4  -23.33
AVCT   AVOCENT CORP                               32 5/8       -10  -23.32
PBKBP  PEOPLE'S BANCSHRS CAP TR 9.76%                  7   -2 3/32  -23.18
HRLY   HERLEY INDUSTRIES                              17        -5  -22.79
CKCM   CLICK COMMERCE                                 19  -5 14/32  -22.77
RC     GRUPO RADIO CENTRO ADS                      6 3/8  -1 26/32  -22.66

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April Hoover
15 Greenleaf Rd
Milton, MA 02186
aprilhoover@msn.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

April Hoover


Attached is the security document form.  Section 5.4 is missing and I will
provide tommorrow.  However, in the interest of time I am forwarding the
agreement for review.


T.J.,

I need your LA address.  I'm sure I have it some place but I can't find it.
How's everything going?  How's Rena?  Are you heading home for the
holidays or staying in LA?

Also,  if you have Lowery's address and phone # could you forward it.

Thanks,

Kevin


---------------------- Forwarded by Nicholas O'Day/AP/Enron on 05/31/2001
09:12 PM ---------------------------
From: Llewelyn Hughes on 05/30/2001 09:57 AM
To: Nicholas O'Day/AP/Enron@Enron, Mark Crowther/AP/Enron@Enron, Michael
Grimes/AP/Enron@Enron, Takashi Kimura/AP/Enron@Enron, Mika
Watanabe/AP/Enron@Enron, Rousseau Anai/AP/Enron@Enron
cc:

Subject: Brattle Report Hits Update

The Brattle report has continued to receive a remarkable number of hits.

For the period May 18th (release date) to May 29th, inclusive, the total
number of downloads for the six files has reached a total of 12,588. This
number indicates the number of 'clicks' for download on any of the six .pdf
files, and is not indicative of successful downloads or saves.

The full hits report is enclosed for the Brattle paper.

Llewelyn


ADMINISTRATIVE/ GENERAL

US EPA -  Mike Terraso and Jeff Keeler met with the current acting EPA
Assistant Administrator for Air and his staff in Washington.  Jeff reviewed
the a proposed plan and cooperative solutions for multi-pollutant air
emission regulations.

World Resources Institute - Mike Terraso and Susan Worthen reviewed WRI
initiatives and potential research utilization regarding greenhouse gas
inventory mechanisms and EHS value to bottom financial line accounting
techniques with Jonathan Lash, president of WRI.

National Environmental Policy Institute Summit Meeting - Mike Terraso, Jeff
Keeler and Marc Phillips participated in the NEPI meetings in Washington.
New US EPA Administrator, Governor Christi Whitman was the keynote speaker
and outlined the administration plan for developing common ground cooperative
mechanisms with industry, state and local governments to achieve
environmental goals.

2001 EHS Performance Targets -  All assets responded with their concurrence
and some requested more stringent improvement targets.  Henry Van distributed
the 2001 EHS Performance Targets to asset management, including Rebecca
McDonald. Donnie Willmann met with Mariella Mahan to discuss 2000 EHS
performance statistics and proposed 2001 EHS performance targets for
facilities under her responsibility.  Donnie followed up with asset
management to obtain their concurrence with recommended goals.

Corporate Responsibility Booklets - Several copies of booklets that were made
to communicate corporate responsibility-related policies to new employees
were provided to the London office for similar use and dissemination.

Corporate Responsibility Market Opportunity Sub-Committee - Susan Worthenn
and Gavin Dillingham attended the Market Opportunity Sub-Committee chaired by
Gene Humphrey.  Recommendations were made to invite Lou Pai to the next
meeting to determine synergies of this sub-committee and his new group.

EUROPE

UK, Enron Metals Henry Bath UK - Alan Stringer reviewed final groundwater
monitoring results and determined the need and level of remediation required
to remove potential contamination source(s).   Estimated completion by April
2001.

Netherlands, Enron Wind - Alan Stringer supported Enron Wind in the
acquisition of a blade manufacturing company.   Supervised soil and
groundwater investigation and prepared cost estimates for haz-waste disposal,
raw material and storage up-grades. Also identified EHS management system
improvements.   Alan continues to provide additional assistance to develop an
action plan and cost estimate to address all EHS issues identified during due
diligence survey.  Estimated completion date is March 15,  2001.   He may be
required to assist in the EHS management improvement process.

UK Enron Rassau ) Potential Power Plant Development Project ) Alan Stringer
supported decision making in determining whether to cancel geotechnical and
soil quality  site investigation due to a "foot and mouth" outbreak (cattle
very infectious disease in the UK).  He consulted with  UK Government and
recommended postponing field work until infected areas are safe.  He will
follow up with UK authorities on when is safe to conduct field work.

Spain, Arcos and Mora Power Plant Development Projects ) Alan Stringer
supported the UK engineering team and PR team, with support from Gus Eghneim
on public opinion on air quality issues. No further action expected.

UK Environmental Reporting ) Alan assisted Enron UK Operations in meetings
with KPMG (management consulting firm expert in electricity generation) on
how to report environmental issues to UK electricity generation regulator
OFGEM.

ENRON GLOBAL ASSETS
(Central America, South America, India and Asia)

Brazil, Cuiaba Pipeline and Power Plant Projects - Edgar Zuleta completed the
EHS audit follow-up report for the Cuiaba pipeline and power plant projects
and submitted to Laine Powel, Project Director.

Southern Cone - Edgar Zuleta completed the review of the Operations Audit
action items  monthly reports for Transredes, GTB, Calife, and EPE.  He is
currently working with these companies to resolve issues.

Bolivia, Transredes Crisis Management - Edgar Zuleta conducted an assessment
of the Incident Command System (ICS) for crisis management.  New Transredes
Crisis Management procedures will follow the ICS structure.  He also
continues to prepare Transredes Crisis Management process under  ISO
standards.

Bolivia, Gas Oriente Boliviano - Gas Oriente Boliviano requested Edgar Zuleta
to assist in the preparation of a Crisis Management Plan required by the
operation license process.  The work began this week.

India, Dabhol Power Company (DPC)  -  Alan Stringer and Henry Van are
reviewing environmental remediation support that could be offered to DPC.
Alan requested a copy of the ThermoRetec assessment report from Ram
Subramanian.  Awaiting confirmation from DPC for Alan to attend the
ThermoRetc presentation in Mumbai on March 19 where potential remediation
alternatives will be discussed.

Batangas, Subic,  Dabhol, Marianas, SK-Enron - Reviewing latest Operational
Audit recommendation status to ensure that EHS issues are addressed at these
.

Guam, Marianas Energy Company - Bal Wong conducted an EHS new employee
orientation and  Oil Spill Emergency Response Plan training for operation,s
Department Group A.  Clarified the safe use of suspended platforms. Conducted
safety inspection of fire extinguishers, eye washing stations, emergency
showers, electric outlets and ladders.  Completed the February Environmental
Report and submitted to Marianas Energy Company management.

ENRON ENERGY SERVICES

EES - Distributed Power Generation ) Gus Eghneim is continuing to provide
permitting support to the distributed power generation team.  Several
generation facilities are planned for year 2001.

Barge Oil Spill, Brooklyn, New York ) Bill Curra and Gus Eghneim prepared the
oil spill report. The report was reviewed by operations and legal prior to
submittal to the U.S. Coast Guard and other regulatory agencies.

Mobile Energy Services Company ) Scott Watson scheduled to implement his
devised EHS Transition Plan as well as to conduct an EHS Audit at this
facility by mid March +2001.

Chemical Hygiene Program  -  Scott Watson continues devising a Chemical
Hygiene Program to be implemented at all operated OEC Facilities as well as
Enron North America Assets.

Eli Lilly Project, EES ) Scott Watson, Henry Van and Bill Curra are preparing
the EHS Policies and Procedures Manuals and Training Program.  The Eli Lilly
account includes utility delivery service for 5 facilities.

REGULATORY TECHNICAL ANAYLSIS

TNRCC Seminar on Cap and Trade Program - Marc Phillips attended a seminar put
on by TNRCC on the cap and trade program under the Houston non-attainment
regulations.

NAM Ergonomics Task Force Action - Russell Tucker served on the NAM task
force to develop the strategy to influence Congress to use the Congressional
Review Act to repeal the OSHA Ergonomics Program final rule. The implemented
plan is now recognized as a deciding influence in Congress' action to send a
repeal measure to the President, who has indicated it will be signed. The
results will translate into the ergonomics regulation having "no force or
effect."  No organization will have to comply with it. No state-plan states
will be required to adopt any similar rule, and no further litigation over
the validity of the rule will be required. It is expected all business and
labor petitions against OSHA will be withdrawn and/or dismissed in the next
several weeks, a large money savings for the trade associations in itself.

GREENFIELD CAPITAL PROJECTS

Project Calypso (Bahamas LNG and Pipeline) ) Don Stevens has scheduled a site
visit with Dave Glessner (Development Engineer) to conduct an environmental
phase I due diligence on the proposed property location of the LNG facility
in Freeport, Grand Bahamas Island on 3/13/01 ) 3/15/01.  Susan Worthen
advised Dave on the merits of including a section on noise in the Bahamian
Environmental Impact Assessment and suggested what actions needed to be
analyzed in order to make an evaluation of the potential noise impacts.  Mike
Terraso and Susan Worthen met with Ted Ryther and Bill Kendrick of the ETS
EHS group to discuss environmental support services for the project.
Currently, the project does not have an environmental manager to oversee the
environmental consultants and provide day-to-day support.

ACQUISITIONS

Orion Refining Corporation (Norco, Louisiana) - Don Stevens has learned from
Doug Leach that a draft contract from Morgan Stanley is expected in the next
couple of days. Once Doug has the draft contract he will make any
changes/additions he would like to include and will forward it to the team.
Upon our receipt and review Doug has promised a reply in 48 hours as to
whether we could be competitive or not with the Morgan offer. Even if we are
not competitive with Morgan Stanley and Orion would like to work with Enron
on anything that would benefit both parties.

Project Orange (Orlando, Florida) - Don Stevens conducted a site visit on
3/6/01 - 3/7/01 in order to complete an Phase I Environmental Site Assessment
of the facility.  This is a potential equity stake in an existing
cogeneration plant that would allow Enron to capitalize on a reverse tolling
agreement for natural gas.

Project INGA (PN coal-fired power plants and CA cogen plants) - Don Stevens
has learned the project is back in review.  One facility (Mt. Poso) has been
dropped from consideration.  The deal consideration is for $92MM.

ReoGen / Electrobolt - Don Stevens provided comments to the Phase II
Environmental Site Assessment for the project.  The purpose of the assessment
was to quantify potential contamination of the site prior to construction.
No significant contamination was found and recommendations by the local
consulting firm to install groundwater monitoring wells were communicated to
the project team as "optional" depending on local real estate custom/practice.

DEPARTMENT PROJECTS

Quantitative Risk Module ) Don Stevens has been informed that the project is
moving forward.  ThermoRetec has informed that the phase I deliverable is
scheduled for the week of 5/7/01.

EHS Web Site ) Gavin Dillingham met with Vern Vallejo of Enron Networks to
discuss the launch of Phase II of the EHS Website. It appears that Phase II
can be ready by September. Gavin is currently asking for suggestions and
ideas to improve the website and collecting data to complete content "blanks".

Telework/NEPI Program ) Gavin Dillingham is preparing for a meeting with HR
Work Perks, Sally Alvarez and Sarah Davis and NEPI,s Elham Shirazi concerning
teleworking at Enron. The meeting is to help familiarize Enron Work Perks
with the current telework pilot program that NEPI and HGAC is launching in
the Houston area and to see if Enron would like to participate in such a
program. The consulting to develop a telework program is provided as a free
service through federal government funding and HGAC and NEPI have been given
this federal funding. The meeting will be on March 15th.

Hybrid Vehicle Program ) Gavin Dillingham has been working with Bruce Martin
concerning Enron,s purchase of new hybrid vehicles. It appears that Enron
Corp. will purchase three of these vehicles.

Asset/Project Tracking Database - Gavin Dillingham is currently enhancing the
Asset Tracking Database to include more information. The information fields
that are being added will track power plant capacity, liability concerns,
costs, operator, % ENE owned, actions and costs.

GAO EHS Performance Measures Database ) Gavin Dillingham is currently working
with Enron Networks and Scott Cleverly to determine the feasibility of fixing
the current database and the time frame involved in fixing the database.
Scott believes that a new version of the database will be functional by the
end of March. The current main focus on this project is to develop a database
that has enhanced reporting flexibility. Gavin has sent out an email to all
who receive reports from this database, to determine the formats of the
needed reports.

Cell Phone Recycling - Gavin Dillingham is working with Charla Reese in
Community Relations to start a cell phone recycling campaign. The cell phones
will be gathered at Enron and donated to a group called CARE, a non-profit
environmental and human rights group. CARE will then sell the phones to
CollectiveGood.com who will refurbish or recycle the phones and then resell
the phones at a 50% discount to communities in Latin America. Gavin will also
be contacting Verizon and Cingular to see what they do with their phones.

Dow Jones Sustainability Group Index - Gavin Dillingham is currently working
with Lauren Iannarone to evaluate various sustainability indexes, such as Dow
Jones and Innovest and determine potential value to Enron should try to be
listed on this index.

VOLUNTEER ACTIVITIES/COMMUNITY RELATIONS

Enron Earth Day Festival ) Gavin Dillingham had a meeting with Trash Bash
yesterday and today to discuss the bayou cleanup challenge coming up on March
31st. Currently, there is a committee that is looking for volunteers and is
coordinating the logistics of the clean-up.

Susan Worthen
Director
Environmental Compliance, Enron Corp
713/646-6579  713/345-6164 fax
3AC 1525


So I don't need to do anything in order to be a part of the "cash balance
plan"? When I pull up my account information from the "Savings Plan" website,
it says my investments and balances are zero, so I assume I need to enroll in
this myself if I want to be a part of it. The plan I'm referring to allows
you to invest up to 15% of your before-tax income in either Enron Corp stock
or a variety of mutual funds. In this plan, up to 6% of your contributions
are matched by Enron, beginning one month after your hire date. I guess my
question is - What is this plan called? And if I enroll in it myself online,
will I be doubling up on something Enron has already done for me? If this is
not the retirement plan, what is?

I'm sorry to ask so many trivial questions. I just want to make sure I've
taken advantage of all the programs and not neglected opportunities because I
thought they were automatically given to me.

Thanks,
Kate

Amy FitzPatrick
01/16/2001 09:43 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Savings Plan v. 401K

Kate -

401K and the cash balance retirement plan are 2 separate plans.  You are
automatically enrolled in the cash balance plan - you would be eligible to
participate for the year 2000.  Going forward, at the end of each year, Enron
will set aside 5% of your salary into an account (Enron directs these
funds).  This account has a 5 year vesting period meaning that you must stay
with the company for 5 years to be eligible to receive these funds when you
leave.

Does this help?

Amy

   Kate Symes                01/16/2001 09:34 AM

To: Amy FitzPatrick/PDX/ECT@ECT
cc:
Subject: Savings Plan v. 401K

I'd like to enroll in the Enron Savings Plan program; however, when I was
navigating through the savings plan website, I started wondering if the
retirement plan and the self-directed brokerage account are the same thing. I
think you probably have some information regarding these plans. Could I
borrow that later this afternoon, or even better, sit down with you for a
minute to clarify which plans I am eligible to enroll in and when? Thanks in
advance for your time.

Kate


Member Services
Notice No. MS-25
April 26, 2001

COMMODITY EXCHANGE, INC.

 NOTICE OF INTENTION TO TRANSFER MEMBERSHIP

Notice of Intention to Transfer Membership has been posted on the bulletin
board of the Exchange by:

Steven Furman (SONY-4787)

In connection therewith, notification of any claims against the
aforementioned individual arising out of transactions executed on the
Exchange up to the close of business on April 26, 2001, must be submitted to
the Corporate Secretary's Office within ten (10) days.

Inquiries regarding the above should be directed to the Member Services
Department at (212) 299-2370.

__________________________________________________
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=(MS-25)"

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.


CALENDAR ENTRY:	APPOINTMENT

Description:
	EB12C1 - Curve Validation Meeting (w/Beth Apollo & Vlady Gorny)

Date:		6/20/2001
Time:		9:00 AM - 10:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:

per Blanca Carrizales


The deal number in Sitara was changed because of an internal book name
change.  It had nothing to do with the monetization status of the deal.  If
this has caused a problem, let me know.  I didn't think that just changing
the deal number would have this effect.   Thanks.

DG    3-9573

	Enron Global Finance

	From:  Steve Ross                           09/19/2000 10:07 AM

To: Melissa K Ratnala/HOU/ECT@ECT
cc: Darron C Giron/HOU/ECT@ECT
Subject: Re: short fall $971,443.11 for Wis Elect Power

Any word?  I am going to send in the water fall today so please let me know.
Thanks

	Enron North America Corp.

	From:  Melissa K Ratnala                           09/15/2000 09:06 AM

To: Darron C Giron/HOU/ECT@ECT
cc: Steve Ross/HOU/ECT@ECT
Subject: Re: short fall $971,443.11 for Wis Elect Power

Darron,

Sitara indicates that the below deal #10129 was changed to deal #312218.
Steve Ross with Company 103 and my records indicate that this deal should
have been monetized until September prod.  Please let me know if you show
otherwise, as monetized volume stopped flowing as of July production.

Thank you, Melissa

To: Melissa K Ratnala/HOU/ECT@ECT
cc: Audrey Cook/HOU/ECT@ECT, Shielah Castro/Corp/Enron@Enron
Subject: Re: short fall $971,443.11 for Wis Elect Power

Melissa,
We are missing the CIG/NNG pull for deal 10129.  The 232,500 is south TX deal
10132 which is booked.  Past history
has the 10129 deal pulling the same quantity as the 10132.   I am just trying
to figure out were the other half of the monthly pull might be if in fact
there is any.

Thanks

	Enron North America Corp.

	From:  Melissa K Ratnala                           09/14/2000 01:26 PM

To: Steve Ross/HOU/ECT@ECT
cc: Audrey Cook/HOU/ECT@ECT, Shielah Castro/Corp/Enron@Enron
Subject: Re: short fall $971,443.11 for Wis Elect Power

Steve,

Please field all monetized questions/requests through me.  We have many new
faces, most of which have not yet been trained on monetizations.  We are
actually restructuring which coordinators will be handling the monetized
contracts and once completed, we will have firm contacts for you.

To answer your question, Wisconsin Electric Power deal #10132 and 10129 are
still valid until 9/00, but I booked invoice #13470SA on your books in Doc
#1600000445 for 232500 mmbtu and $1,011,549.39.  Is this not what you were
looking for?  Please explain further.

Thanks!  Melissa

To: Shielah Castro/Corp/Enron@Enron
cc: Melissa K Ratnala/HOU/ECT@ECT
Subject: short fall $971,443.11 for Wis Elect Power

Is the CIG/NNG DUMAS contract expired?  My water fall is still looking for
monthly MMBtu and there is none for July production
yielding  the above short fall.  Please let me know today as I am procesiing
this months' payment.

Thanks


please "fix" my calendar.  Thanks.  ss
----- Forwarded by Sara Shackleton/HOU/ECT on 08/29/2000 05:14 PM -----

	Taffy Milligan
	08/29/2000 04:56 PM

		 To: Susan Bailey/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT,
Mark Taylor/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Jason
Peters/Corp/Enron@Enron, Mary Cook/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron,
Robert Bruce/NA/Enron@Enron
		 cc:
		 Subject: SWAP Group Meeting

There will NOT be a SWAP Group Meeting tomorrow, Wed, 8/29.    Please correct
your calendars to reflect The SWAP Group meeting is scheduled for the 1st and
3rd Wed. of each month--not every other Wed., as I had previously stated.  I
apologize for any inconvenience this may have caused.

Taffy


--------------------------vince kaminski

-----Original Message-----
From: Exchange System Administrator [EX:.]
To: 'vince.kaminski@enron.com' <vince.kaminski@enron.com>
Sent: Fri Jan 04 06:53:13 2002
Subject: Undeliverable: Fw: Undeliverable: To do

--------- Inline attachment follows ---------

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=VKAMINS>
To: 'vince.kaminski@enron.com'
Date: Friday, January 4, 2002 12:53:08 GMT
Subject:

--------------------------vince kaminski

-----Original Message-----
From: Exchange System Administrator [EX:.]
To: 'vkamins@enron.com' <vkamins@enron.com>
Sent: Fri Jan 04 06:50:37 2002
Subject: Undeliverable: To do

--------- Inline attachment follows ---------

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=VKAMINS>
To: 'vkamins@enron.com'
Date: Friday, January 4, 2002 12:50:34 GMT
Subject:

1 Cindy Skinner
2 Chonawee
3 Martin
4 Praveen
5 Lawyer
6
--------------------------vince kaminski


Hi, Jeff --

I'm sure you've seen today's article in the San Diego Union-Tribune
headlined, "Power-company Profits Climb Along With Prices."  The last
sentence of the article from Harry Snyder at the Consumers Union in San
Francisco is troubling, when he says, "They (power industry) don't have
consumers' interest at heart."  That's exactly what you want!  If there is
anything at all that I can do to support Enron here in San Diego, please
let me know.

By the way, I did hear from Rick Counihan.  He said that we're in the top
two of the PR firms the coalition interviewed, and that he hoped they'd
make a decision soon.  My threat to jump off a building unless he called me
must have worked!

Hope to see you soon --

Dana


Below is an update on the status of the grandfather legislation. Changes from
previous versions include a 30% reduction for oil and gas facilities instead
of 20% and an extension of the voluntary program until 9/2002 instead of
9/2001. I asked Skip Dees if that meant TNRCC would allow companies to
"authorize" grandfathered sources under old exemptions for a year longer and
his response is below. His suggestion is to act now (as is mine).

Skip's e-mail response: "If the Sunset Bill passes with the current
grandfathered facility language (and there is no guarantee of that - it ain't
gonna get any better, and it could get worse), we'd have till 9/1/02 to apply
for a VERP-type permit with
10-year old BACT.  The deal on applying historical PBR's to grandfathered
facilities is a TNRCC letter interpretation, and that COULD change at any
time.  If that option works for you, I'd jump on it NOW."

----- Forwarded by Marc Phillips/OTS/Enron on 05/10/2001 10:01 AM -----

	"Dees, Allan W (Skip)" <deesaw@texaco.com>
	05/10/2001 09:27 AM

		 To: "'Morphew, Cindy (TXOGA)'" <cmorphew@txoga.org>, "'Miksa, Mary (TABCC)'"
<mmiksa@tabcc.org>, "'Romero, Celina (Clark Thomas Winters)'" <cr1@ctw.com>,
"'jrandall@tnrcc.state.tx.us'" <jrandall@tnrcc.state.tx.us>,
"'jteib@trncc.state.tx.us'" <jteib@trncc.state.tx.us>, "'Mills, Alex
(NTOGA)'" <ntoga@wf.net>, "'Stevens, Bill (WCTOGA)'" <wectoga@camalott.com>,
"'Hughes, Wayne (PPROA)'" <pproa@pproa.org>, "'Burns, Morris (PBPA)'"
<pbpa@marshill.com>, "'Fleming, Martin (TIPRO)'" <mfleming@tipro.org>, "Wade,
Foster L" <wadefl@texaco.com>, "Abernathy, Linda (El Paso Natural Gas)"
<abernathyl@epenergy.com>, "Adamson, Terry (BP Amoco)" <adamsotj@bp.com>,
"Aliberti, Marilena (Shell Western E&P)" <mdaliberti@shellus.com>, "Anderson,
Lisa" <lisa@westcapitol.com>, "Blossom, Stanley (Kerr McGee)"
<sblossom@kmg.com>, "Braun-Fishman, Karla (Santa Fe Energy Res.)"
<kbraun@santafe-snyder.com>, "Broussard, Gweneyette (Equilon)"
<CGBROUSSARD@EQUILON.COM>, "Butler, Donald (Hunt Oil)"
<don.butler@huntoil.com>, "Cavazos, Hector (Chevron)" <heca@chevron.com>,
"Cortez, Naomi (El Paso Natural Gas)" <cortezn@epenergy.com>, "D'Attilio,
Wendy (El Paso Energy)" <dattiliow@epenergy.com>, "Davis, Frank (Anadarko)"
<frank_davis@anadarko.com>, "De Nicola, Mike (Chevron Pipeline)"
<MIJD@chevron.com>, "Dees, Allan W. (Skip)" <deesaw@texaco.com>, "Dorsey,
Gina (KinderMorgan)" <gina_dorsey@kindermorgan.com>, "Dougherty, Barbara
(Devon Energy)" <barbara.dougherty@dvn.com>, "Dover, Wilbur (Pioneer)"
<doverw@pioneernrc.com>, "Emery, Dave (Phillips)" <dtemery@ppco.com>, "Fish,
Marilyn (EOG Resources)" <mfish@eogresources.com>, "Frederick, Bubba (Spirit
Energy/UNOCAL)" <jfred@unocal.com>, "Galusky, Peter (Marathon)"
<lpgalusky@marathonoil.com>, "Garcia, Irene (ExxonMobil)"
<ceditg@upstream.xomcorp.com>, "Gillen, Darrell (Williams Prod)"
<darrell.gillen@williams.com>, "Golemon, R Kinnan (BMOH)"
<kgolemon@bmoh.com>, "Greer, John (KN Energy)" <john_greer@kne.com>,
"Gutierrez, Hugo A. (Marathon)" <hagutierrez@marathonoil.com>, "Hathaway,
David C. (Phillips Petroleum)" <dchatha@ppco.com>, "Hutson, Margaret
(Conoco)" <Margaret.B.Hutson@usa.conoco.com>, "Hutton, Nina (Cross Timbers
Oil Co.)" <nina_hutton@crosstimbers.com>, "Knoeller, Craig (Exxon)"
<craig.p.knoeller@exxon.com>, "Kriter, Kurt (Amerada Hess)"
<kkriter@hess.com>, "Landry-Huey, Traci (Phillips Petr.)" <tmlandr@ppco.com>,
"Laughlin, Jan (Phillips)" <jlaughl@ppco.com>, "LeBlanc, David J."
<lebladj@texaco.com>, "Maddox, Scott (Phillips Pipeline)" <sema@ppco.com>,
"Malter, Paul (Burlington)" <pmalter@br-inc.com>, "Mangels, Lynn D"
<mangelld@bp.com>, "Martinez, Rosemary (Amoco)" <martinr32@bp.com>, "McCay,
R. Scott" <mccayrs@texaco.com>, "Milliet, Michael P." <millimp@texaco.com>,
"Montgomery, Gene (OXY Permian)" <Gene_Montgomery@Oxy.com>, "Moore, Susan
(BP-Amoco)" <mooress1@bp.com>, "Muslih, Khalid (Coastal)"
<khalid.muslih@coastalcorp.com>, "Nolan, R. M. (Exxon)" <rmnolan@exxon.com>,
"Pachulski, Jim (Crescendo Resources)" <pachuljm@bp.com>, "Parra, Alvaro
(Williams Energy Services)" <alvaro.parra@williams.com>, "Phillips, Marc
(Enron Pipeline)" <mphilli@enron.com>, "Portz, Bruce (Western Gas Resources)"
<bportz@westerngas.com>, "Riddle, Mark (Hunt Petroleum)"
<mriddle@huntpetroleum.com>, "Sandilos, Bob (Chevron U.S.A.)"
<rjsa@chevron.com>, "Searle, Dave (Marathon)" <fdsearle@marathonoil.com>,
"Sebree, Ben (TXOGA)" <bsebree@txoga.org>, "Sellars, Don (Chevron)"
<drse@chevron.com>, "Sellers, Tom (Conoco)" <tom.sellers@usa.conoco.com>,
"Smith, Michael (Chevron)" <SMMB@chevron.com>, "Sorel, Kesner (Duke Energy)"
<ksorel@duke-energy.com>, "Starrett, Mike (Altura Energy)"
<mpstarrett@alturaenergy.com>, "Stephenson, Mark (Mitchell)"
<mstephsn@mitchellenergy.com>, "Templet, David (Mitchell)"
<dtemplet@mitchellenergy.com>, "Travis, Lynn (Devon Energy Corp)"
<Lynn.Travis@dvn.com>, "Wadsworth, David (Maxus Energy)"
<david_wadsworth@notes.maxus.com>, "Waisanen, Peggy (OXY Permian)"
<plwaisanen@alturaenergy.com>, "Wilhelm, Jack (Mobil Oil Corp)"
<jack_m_wilhelm@email.mobil.com>, "Wilson, Pamela (ExxonMobil)"
<Pamela.L.Wilson@exxon.com>, "Wolford, Cheryl (TEPPCO)"
<cwolford@teppco.com>, "Zygmunt, R. W. (Shell Offshore)"
<rwzygmunt@shellus.com>
		 cc: "Hall, Larry R" <halllr@texaco.com>, "Mire, Kerry A"
<mireka@texaco.com>, "Head, James A" <headja@texaco.com>, "Botes, Peter J"
<botespj@texaco.com>, "Turner, Kim A" <turneka@texaco.com>, "Hoover, Clay R"
<hoovecr@texaco.com>, "Smith, Todd M" <smithtm@texaco.com>, "Harvey, Ralph V"
<harverv@texaco.com>, "Dibble, John T" <DIBBLJT@texaco.com>, "Chisholm, Duane
N" <chishdn@texaco.com>, "Milliet, Michael P" <millimp@texaco.com>, "Boswell,
Jerry C" <boswejc@texaco.com>, "Lee, Arthur" <LEEA@texaco.com>, "Wenker,
Judith A" <wenkeja@texaco.com>, "Montgomery, Kathy A" <montgka@texaco.com>,
"Padon, Linda D" <padonld@texaco.com>, "Palmer, Frederick B"
<palmefb@texaco.com>, "Demeter, Rebecca M [Newcos]"
<RMDEMETER@MOTIVAENTERPRISES.COM>, "Demeter, Rebecca M. [Star]"
<DEMETRM@STARENT.COM>, "Wimberley, William F [Newcos]"
<WFWIMBERLEY@MOTIVAENTERPRISES.COM>, "Wimberley, William F. [Star]"
<WIMBEWF@STARENT.COM>, "'Thurman JR (James)'" <JRThurman@equiva.com>
		 Subject: Grandfathered Facilities - Endangered Species With No Prospects o f
Protection

The days of grandfathered facilities in Texas are numbered.  This does not
only mean those large facilities in nonattainment areas, but ANY facility
that was constructed prior to September, 1971 and has not subsequently been
rolled into some sort of new source review (NSR) permit or Permit by Rule
(formerly Standard Exemption).  Note that proposed new rules recently
published in the Texas Register for public comment will require operators to
be able to produce documentation of applicability and compliance for all
facilities authorized by a Permit by Rule/Standard Exemption, much the same
as is required for any other type of permit.

The TNRCC Sunset Bill contains language limiting the time that such
facilities may operate without NSR authorization of some sort.  The Senate
Committee Substitute (SCS) for HB 2912 is a little stricter than the version
passed by the House, but both versions did contain grandfathered facility
permitting provisions and it is safe to assume that the final version will
also.  If this version passes, you will have one additional year to apply
for a Voluntary Emissions Reduction Permit (VERP).  If your facility is a
pipeline facility, the TNRCC will require no more than a 30% reduction in
NOx, and that reduction can be averaged for several facilities in the same
area covered in one permit.

Note that it is only through the efforts of our lobbyists - particularly
Cindy Morphew of TxOGA and Celina Romero of ATINGP - that it looks as though
we will get an additional opportunity to get these facilities permitted
without having to use today's BACT.

This memo summarizes the SCS provisions for your information.  This is NOT
actual bill language - I've TRIED to make it easier to read.

Note that these provisions may be changed somewhat if the House does not
concur in all of the changes made by the Senate and the bill goes to
Conference.  In addition, we expect a strong attempt to amend the bill on
the Senate floor to require shutdown on September 1, 2001 of grandfathered
facilities that do not have a pending permit application.  If that attempt
is successful, the opportunity to apply for a VERP will be gone on September
1.

The memo also recaps previous recommendations to you regarding the current
opportunity to claim historical Permits by Rule (Standard Exemptions) as a
means of permitting a grandfathered facility.  I am not certain how long
this opportunity will continue to exist.  TAKE ADVANTAGE OF IT WHILE YOU
CAN.

In addition, I've appended some information on 10-year old BACT for
gas-fired IC engines and turbines that might be useful if you are trying to
get a VERP now.

PROVISIONS OF SCS FOR HB 2912 (PRIOR TO SENATE FLOOR DEBATE)

Sec. 382.05181.  PERMIT REQUIRED.

(a)  Any grandfathered facility that does not have an application pending
for a new source review permit or other authorization, other than a federal
operating permit, and that has not submitted a notice of shutdown as
provided in Section 382.05182 may not emit air contaminants on or after:

 (1)  September 1, 2003, if the facility is located in a
nonattainment area; or

 (2)  September 1, 2005, if the facility is located in an attainment
area.

(b)  Any grandfathered facility that does not have a permit or other
authorization under this chapter, other than a federal operating permit
permit, may not emit air contaminants on or after:

 (1)  September 1, 2005, if the facility is located in a
nonattainment area; or

 (2)  September 1, 2007, if the facility is located in an attainment
area.

(c)  Facilities eligible for a Small Business Stationary Source Permit are
subject to the permitting deadlines in Section 382.05184.

Sec. 382.05182.  NOTICE OF SHUTDOWN.

(a)  A notice of shutdown to allow operation of a grandfathered facility
beyond the deadlines of 382.05181(a) must be filed with the commission
before the applicable deadline.

(b)  A notice under this section shall include:

  (1)  the date the facility intends to cease operating;

  (2)  an inventory of the type and amount of emissions that
will be eliminated when the facility ceases to operate; and

  (3)  any other necessary and relevant information the
commission by rule deems appropriate.

GENERAL PROVISIONS (APPLICABLE TO PERMITS UNDER 382.05183, 382.05184, AND
382.05186)

(a)  The commission shall grant a permit under this section if, from the
information available to the commission, including information presented at
any public hearing or through written comment, the commission finds that
there is no indication that the emissions from the facility will contravene
the intent of this chapter, including protection of the public's health and
physical property.

(b)  If the commission finds that the emissions from the facility will not
comply with Subsection (c), the commission may not grant the permit under
this section.

(c)  A person planning the modification of a facility previously permitted
under this section must comply with new source permitting requirements
before modifying.

(d)  The commission may adopt rules as necessary to implement and administer
this section.

(e)  If an applicant omits any relevant facts or submits incorrect
information in an application, the applicant shall submit the relevant facts
or correct the information no later than 60 days after discovering the
error.  If while processing the application, the commission determines that
additional information is necessary to evaluate or to take final action on
the application, the commission may request the information and set a
reasonable deadline for a response.  Failure to comply with the deadline for
the response will result in the application being returned to the applicant.

Sec. 382.05183.  EXISTING FACILITY PERMIT.

(a)  The owner or operator of a grandfathered facility may apply for a
permit to operate the facility under this section.

(b)  The commission shall grant a permit under this section if, from the
information available to the commission, including information presented at
any public hearing or through written comment, the commission finds that the
application:

  (1)  is filed before September 1, 2002 and the facility will
use an air pollution control method at least as effective as 10-year old
BACT; or

  (2)  is filed before the applicable deadline of 382.05181(a)
and the facility will use current BACT.

(c)  The commission may issue an existing facility flexible permit for some
or all of the grandfathered facilities at a site.  Permits issued under this
subsection shall follow the same permit issuance, modification, and renewal
procedures as existing facility permits.

Sec. 382.05184.  SMALL BUSINESS STATIONARY SOURCE PERMIT.

(a)  Grandfathered facilities that are located at a small business
stationary source and are not required by commission rule to submit an
annual emissions inventory report may apply for a permit under this section
before September 1, 2005.

(b)  Grandfathered facilities that are located at a small business
stationary source that does not have an application pending for a new source
review permit or other authorization, other than a federal operating permit,
and that has not submitted a notice of shutdown, may not emit air
contaminants on or after September 1, 2007.

Sec.  382.05185.  ELECTRIC GENERATING FACILITY PERMIT.

Special provisions for permitting grandfathered electric generating
facilities are not outlined in this memo.

Sec. 382.05186.  AUTHORIZATION FOR PIPELINE FACILITIES.

(a)  The commission by rule shall establish the procedures for applications
for grandfathered processing, treating, compression, or pumping facilities
connected to or part of a gathering or transmission pipeline.

(b)  Based on a prioritization by the commission as necessary to meet local,
regional, and statewide air quality needs related directly or indirectly to
federal air quality standards, the commission may require up to a 30%
reduction of the hourly emission rates of NOx and VOC from reciprocating
internal combustion engines subject to this section.  For facilities other
than reciprocating internal combustion engines that are connected to or part
of a gathering or transmission pipeline , the commission may consider
requiring hourly emissions rate reductions of up to 30% for NOx and 20% for
VOC.  The commission by rule may designate counties or regions of the state
where greater reductions in the hourly emission rate will be required than
in other areas, but no more than 30 percent reductions in the hourly rate
may be required in any area.

(c)  The commission shall:

  (1)  allow for a single permit for all facilities connected
to or part of a gathering or transmission pipeline;

  (2)  allow for required reductions for facilities under this
section to be achieved at one facility or averaged among more than one
facility and located in the same local, regional, or statewide areas
designated by the commission under Subsection (b);

  (3)  for purposes of emission averaging, allow emission
reductions achieved from grandfathered since September 1, 1997; and

  (4)  allow an owner or operator to apply for separate
permits under this section for discrete and separate facilities connected to
or part of a gathering or transmission pipeline.

(d)  Facilities authorized by this section shall be considered permitted
under this chapter.

CURRENT OPPORTUNITY TO CLAIM A PERMIT BY RULE TO "PERMIT" A GRANDFATHERED
FACILITY

TNRCC has interpreted its rules to allow operators to permit grandfathered
facilities using any applicable "Permit by Rule," including those previously
referred to as Standard Exemptions.

For instance, old Standard Exemption 7, effective May 8, 1972, was for "Gas
fired internal combustion engines of less than 2000 hp and engine trains of
less than 5000 hp total" and can be used to permit any such engine(s).  For
clarification on this particular exemption, the language used by staff in
proposing this exemption to the Texas Air Control Board in 1972 was as
follows:  "Engines smaller than 2000 hp are quite numerous and are not
considered a substantial source unless joined together IN SERIES (emphasis
added) to form an engine train.  Engine trains of less than 5000 hp are not
considered a substantial source.  Because control technology for NOx
emissions from internal combustion and gas fired engines is very limited, it
is doubtful if significant control could be achieved through the permit
system at this time."  ("Exemptions From Permits Procedures and
Justification for Exemptions," <signed> Charles R. Barden, P.E., Executive
Secretary, Texas Air Control Board, May 8, 1972.)

A list of the "Historical Standard Exemptions" is available on the TNRCC
Website at http://www.tnrcc.state.tx.us/air/nsr_permits/oldselist/index.html
<http://www.tnrcc.state.tx.us/air/nsr_permits/oldselist/index.html> .  In
applying these "Permits by Rule," be sure to check the corresponding
"Exemption Preambles" (if any) for any applicable General Conditions.

TNRCC has asked that we document such permitting of grandfathered facilities
by PI-8 AND a simple notification cover letter to them so that they will
have a record that the facilities have been permitted and are no longer
considered to be grandfathered.  The registration will buy you a letter of
acknowledgement that you have claimed the "permit by rule" (don't use the
term "exemption" in any correspondence) for these engines.

CORRESPONDENCE WITH TNRCC ON 10-YEAR OLD BACT FOR GAS ENGINES AND TURBINES

From: Celina Romero [cr1@ctw.com]
Sent: Monday, December 04, 2000 1:52 PM
To: kgolemon@bmoh.com; rjohnson@bmoh.com; khalid.muslih@coastalcorp.com;
mphilli@enron.com; williamkendrick@enron.com; clowneys@epenergy.com;
jordand@epenergy.com; tom.palmer@gt.pge.com; BagleyW@kochind.com;
Howard0W@kochind.com; NickelD@kochind.com;
scott.wallace@mitchell-energy.com; greg_hardin@oxy.com; deesaw@texaco.com;
cmorphew@txoga.org
Cc: james.cantrell@gt.pge.com; natgasassn@yahoo.com
Subject: Response to 11/21/00 Teleconference 001204

I believe that we have now gotten the last bit of information that the TRNCC
will provide to us regarding the development of guidelines for 10-year BACT
for grandfathered engines and turbines for use in the VERP program.  The
last piece of information is an email that I am forwarding to you with this
email.  It is an email from John Steib to which he attaches an email from
Jim Linville.  In response to a request from us, Jim Linville sets forth in
his email an example of a large engine with emissions in the 29 gram per
horsepower hour range that cannot reduce emissions to the 2-8 gram level and
what the owner/operator of that engine must demonstrate in order to obtain a
VERP permit.
Remember, that in order to be included in the TNRCC's January 15, 2001
report to the legislature, a letter of intent or application for a VERP
should be filed with the TNRCC on or before next Thursday, December 7, 2000.
To summarize, we have obtained the following policies from the TNRCC:
1. Grandfathered internal combustion engines of less than 2000
horsepower can be authorized by Standard Exemption No. 6 effective December
1, 1972, regardless of the level of emissions from those facilities. (See my
letter to Kerry Drake dated September 15, 2000 and Drake's letter to me
dated October 3, 2000).
2. Grandfathered engine trains of less than 5000 horsepower, or a
portion of an engine train up to 5000 horsepower may be authorized under
Standard Exemption No. 6, December 1, 1972, so long as each engine in the
train does not exceed 2000 horsepower.  (See my letter to James Randall
dated November 1, 2000 and Randall's letter to me dated November 16, 2000).
3. Grandfathered turbines of less than 20,000 horsepower may be
authorized by Standard Exemption No. 82, dated December 1, 1972 regardless
of the level of emissions.  (See my letter to Kerry Drake dated September
15, 2000 and Drake's letter to me dated October 3, 2000).
4. Grandfathered engines and turbines that are able to be controlled to
the 2-8 gram range will not be subject to an economic reasonableness review.
(See James Randall's letter to me dated November 16, 2000).
5. Grandfathered engines and turbines that are not able to be
controlled to the 2-8 gram range may be permittable under a VERP if there is
test data to validate the old (pre-modification) and new (post-modification)
emission rates to document that verifiable reductions in actual emissions
would be achieved.  Also needed would be a representation of the cost of the
controls and even though additional modifications are available, the
additional cost is prohibitive. (See Jim Randall's letter to me dated
November 16, 2000 and the email attached hereto).

I hope all of this is helpful.  I have forwarded to you copies of the
referenced letters by fax on earlier dates.  If you need another copy please
let me know.
Celina

-----Original Message-----
From: Jim Linville [mailto:JLINVILL@tnrcc.state.tx.us]
Sent: Tuesday, November 21, 2000 3:36 PM
To: cr1@ctw.com; james.cantrell@gt.pge.com
Cc: James Randall
Subject: Response to 11/21/00 Teleconference

Celina and James,

During our teleconference today, you asked for an example of what we would
consider "significant emission reductions" that would be acceptable in a
case-by-case review when the 2 to 8 g/hp-hr NOx level could not be achieved.
A large 2-stroke engine that is currently emitting approximately 29 g/hp-hr
of NOx would be considered to have significant emissions reductions if
actual emissions are reduced by 50 percent even though it does not meet the
2 to 8 g/hp-hr NOx level.  We would agree that this would have been
considered BACT 10 years ago if there was test data to validate the old
(pre-modification) and new (post-modification) emission rates to document
that verifiable reductions in actual emissions would be achieved.  Also
needed in the case-by-case review would be a representation of what the cost
of the controls would be with a discussion of why the  2 to 8 g/hp-hr NOx
level could not be achieved.  This may be due to technical limitations such
as no additional controls or modifications are possible, or you may identify
cost in dollars per ton of NOx controlled to show that even though
additional modifications are available, the cost is prohibitive.

-----Original Message-----
From: Celina Romero [SMTP:cr1@ctw.com]
Sent: Friday, November 17, 2000 9:45 AM
To: kgolemon@bmoh.com; khalid.muslih@coastalcorp.com; mphilli@enron.com;
williamkendrick@enron.com; jordand@epenergy.com; tom.palmer@gt.pge.com;
BagleyW@kochind.com; Howard0W@kochind.com; NickelD@kochind.com;
scott.wallace@mitchell-energy.com; greg_hardin@oxy.com; deesaw@texaco.com;
cmorphew@txoga.org
Cc: james.cantrell@gt.pge.com; natgasassn@yahoo.com
Subject: letter from TNRCC re 10-yr BACT

I received by fax late yesterday evening, a letter signed by John Steib re
10-yr BACT guidelines for engines and turbines for use in the VERP program.
After my first read, it looks pretty good.  Look for a copy of it by fax.
Let me know if you have any comments or concerns that we need to clear up
with the TNRCC.

Celina

November 16, 2000

Ms. Celina Romero
Attorney
Clark, Thomas & Winters
P.O. Box 1148
Austin, Texas  78767

Re: Permitting Grandfathered Internal Combustion
  Engines and Turbines

Dear Ms. Romero:

As discussed in our meetings and teleconferences concerning the options for
grandfathered internal combustion engines and turbines, we have agreed that
some of these facilities may qualify under Standard Exemption Nos. 6 or 82,
effective on December 1, 1972 and others may be permitted under 30 Texas
Administrative Code (TAC) Chapter 116, Subchapter H:  Voluntary Emission
Reduction Permits (VERP).  Specific questions raised are discussed below.

You have asked for our understanding of what qualifies as an "engine train
of less than 5,000 hp." In your November 1, 2000 letter you gave two
examples of "engine trains" that you felt would meet Standard Exemption No.
6, "Gas fired internal combustion engines of less than 2000 hp and engine
trains of less than 5,000 hp total."  We agree that several engines, each
less than 2000 hp, can be combined into a "train" providing compression to a
common header so long as the train does not exceed 5,000 hp, meet the
exemption requirements.  In cases where the total horsepower in a train
exceeds 5,000 hp, we will allow exemption of individual engines within such
a train provided that each engine is less than 2000 hp and the total
horsepower of exempted engines in the train does not exceed 5,000 hp.  In
the same standard exemption list, turbines were covered by Standard
Exemption No. 82, "Gas turbines of less than 20,000 hp burning sweet natural
gas."

The other major point of discussion has been the determination of "10 year
old BACT" required by 30 TAC o116.811(3)(A).  As we discussed, our review of
permitting 10 years ago reveals that very few, if any, old engines were
permitted; so no data is available to show what we would have required for
nitrogen oxides (NOX) best available control technology (BACT).  New engines
were permitted at 2 grams/horsepower-hour (g/hp-hr) of NOX for both rich
burn and lean burn engines.  At that time older rich burn engines could have
been readily upgraded with catalytic converters to meet this 2 g/hp-hr limit
for NOX.  Lean burn engines were and are still more problematic as both
2-stroke and 4-stroke versions are available, and no single method of
control is applicable.  The large number of different engine manufacturers,
and the availability of various models, makes it impossible to establish a
single 10 year old BACT level.  Some of the older engines may be capable of
being upgraded to meet a level of NOX of 5 to 8 g/hp-hr, the level
established in the 1992 revision of Standard Exemption No. 6, which also
established a 3 g/hp-hr standard for turbines.  While the standard exemption
does not establish BACT for upgrades it does recognize what is available.
Many of the grandfathered engines are large and some have emissions as high
as 25 to 29 g/hp-hr, so significant emission reductions may be achievable
even if they are not able to reduce to the emissions control level of 2 to 8
g/hp-hr.  The 10 year old BACT review on these engines and turbines will
have to be done on a case-by-case basis just as we would have done 10 years
ago.

We hope this guidance will allow your members to decide which engines they
will be able to either exempt or permit under the VERP program and submit
their letters of intent to participate in the VERP program by December 7,
2000.

For engines and turbines that your members decide to propose for
authorization under Standard Exemption Nos. 6 and 82, please identify the
specific engines and turbines, identified by unit number, emission point
number (EPN), air quality account number, and plant name; and for each
account please submit a Form PI-7.  For each engine or turbine, please
submit a, Table 29 or 31 as applicable, and other technical information that
will support the standard exemption claim.

For engines that will be authorized by a VERP permit, please identify each
engine by unit number, EPN, air quality account number, and plant name, and
provide an estimate of the amount of emissions reductions anticipated as a
result of participation in the VERP program.  When the VERP applications are
submitted, information should be provided to show that NOX emissions will be
in the 2 to 8 g/hp-hr range.  If it is not possible to achieve this level of
emissions, please submit information that shows that it is not technically
feasible or economically reasonable to control NOX emissions to that level.
Information showing that actual emissions reductions will be achieved, even
when the targeted range of 2 to 8 g/hp-hr cannot be met, will be helpful in
staff review of the application.

We appreciate your assistance in helping us to make the VERP program a
success.  If you have any further questions, please contact Mr. James
Randall, P.E. at (512) 239-1078.

Sincerely,

John F. Steib, Jr., Director
Air Permits Division
Office of Permitting, Remediation & Registration
Texas Natural Resource Conservation Commission

JS/JR/jo


Attached are 250 and 300 MMcf/d cases to expand TW's mainline, Topock, and San Juan lateral.  These are + 30% costs but still based on the latest E&C estimate for Sun Devil.  If San Juan lateral is not expanded, then facility modifications and costs must be included for supplies to come from the east end which is not included in this study.

Keep in mind the cases including pipe loop used the smallest diameter pipe possible.  Therefore those cases can't be expanded above the 250/300 MMcf/d level easily.

If you have any questions, please call.


broker is right - changed to Coral

Kerri Thompson@ENRON
03/08/2001 01:44 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: natsource checkout

541368
broker has coral for the cp

missing deals for mike:

buy idaho
Q3
25 mw
280.00
mid c
light load

sell aep
Q3
25 mw
290.00
mid c
light load


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/10/2000
12:42 PM ---------------------------

	Enron North America Corp.

	From:  Corporate Benefits @ ENRON                           01/10/2000 08:27
AM

Sent by: Enron Announcements@ENRON
To: All Enron Houston
cc:
Subject: THE DOCTOR,S OFFICE

     THE DOCTOR,S OFFICE

The Doctor,s Office, located on the 3rd floor of the Enron Building, offers
convenient on-site medical care for all Active Enron employees who are
enrolled in any of the Enron Corp. Medical Plan options (except the "No
Coverage" option).  Dependents of employees, contractors and visitors are not
eligible to receive these services, as well as employees not eligible for
"Enron Corp." benefits.

Hours of Operation are:

Monday through Friday
7:30 am - 12:30 pm
1:30 pm -   2:30 pm (Closed for lunch from 12:30-1:30 pm)

Appointments are encouraged, but walk-ins are accepted.  To call for an
appointment, call (713) 750-7074.

A $10 copayment is required for a visit at The Doctor's Office, regardless of
the Medical Plan option you have elected.   You will be required to present
your Medical Plan ID card on your first visit each year, so that your file
may be updated.  Please bring cash or check covering your $10 copayment each
time you visit The Doctor's Office.  (The Doctor's Office is not equipped to
bill you for the copayment - please be prepared to make your copayment when
you arrive for your appointment or you may have to return to your work
location without receiving service.)  The Doctor's Office will also require
you to update your patient information form each year so your file is
complete.

If you are prescribed medications at The Doctor's Office, they can be ordered
through Maxor Pharmacy (located at Christus/St. Joseph Hospital) and
delivered to The Doctor's Office twice daily.  You will be contacted when
your order has arrived and you may pick it up from The Doctor's Office during
their normal business hours.  PLEASE BE PROMPT IN PICKING UP YOUR MEDICATION,
AS ALL PRESCRIPTIONS WILL BE RETURNED TO THE PHARMACY IF NOT PICKED UP WITHIN
24 HOURS.  You may pay for your order by cash, check or credit card.

Remember, prescription drug copayments are changing effective 1-1-2000:
Generic medications are $8.00 and Name Brand medications are $16.00 for a
30-day supply.  (If the medication prescribed has a generic equivalent but
you receive the name brand medication, you must pay the difference in
ingredient cost plus the generic copayment.)


Shari Mao
03/31/2000 11:44 AM
To: Brenda F Herod/HOU/ECT@ECT, Diane H Cook/HOU/ECT@ECT, Mary M
Smith/HOU/ECT@ECT, Carolyn Gilley/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT,
Kathryn Cordes/HOU/ECT@ECT, Jefferson D Sorenson/HOU/ECT@ECT, Michael E
Moscoso/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Rita
Wynne/HOU/ECT@ECT, Kristin Albrecht/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT,
Scotty Gilbert/HOU/ECT@ECT, John Jacobsen/HOU/ECT@ECT, Scott
Pleus/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Carrie Hollomon/HOU/ECT@ect,
Jeff Harbert/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT,
Bryce Baxter/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Cheryl D King/HOU/ECT@ECT,
Judy Barnes/HOU/ECT@ECT, Tony Harris/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Steve
Venturatos/HOU/ECT@ECT, Michael Eiben/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT,
Irene Flynn/HOU/ECT@ECT, Denae Umbower/HOU/ECT@ECT, Juanita
Marchand/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Kim
S Theriot/HOU/ECT@ECT, David Oliver/HOU/ECT@ECT, Eugenio Perez/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT
cc: Stephen P Schwarz/HOU/ECT@ECT, Lisa B Cousino/HOU/ECT@ECT
Subject: March Surveys

Hello,

We have prepared January and February data and will be scheduling meetings
with you in the next few weeks.  For the month of March, please provide a
completed "Hours" survey for each position within your group.  This survey
will collect the  time your team spent on performing their activities in the
month of March.

NOTE: We are now collecting EOL related activities.  If you spend time
directly supporting EOL, and your survey does not have an activity that you
can assign these times to, please contact me as soon as possible so we can
add the appropriate activities to your survey.

To fill out the survey:

At the top of the spreadsheet, you will see a box labelled "Select Your RC".
Click on the box and input your RC number, which will need to be 4 digits.
Once you have done this, another box will appear with the message "Select
Position from Drop Box!" You can then select the position (i.e., staff,
specialist, etc.) and "OK". The choices for positions are based on
information contained in the Org Database (i.e., if a position is not listed
that should be, please call me to discuss as it would indicate that
corrections need to be made to the database).  Once you have the list of
activities, please input hours (for the entire month) for each activity
listed in the column labelled "Hours".
If you're filling out the survey for your team, save a file for each of the
positions you fill out for your team prior to filling out the next position.
If you do not, the information will be lost.

We have included February compiled hours per position (if you had two
specialists performing the same activity - 20 hours each, the "Last Month"
column would show a total of 40 hrs for that month).  As with last month, you
have the option to complete the survey on behalf of your entire group or send
this survey to each of your team members, allowing each individual to fill
out the time they spent on each activity.  If there are any activities you
perform not included in your survey, please contact me as soon as possible
for a copy of the Activity Dictionary.

Please return these surveys by end of day Wednesday, April 5th.  If this is a
problem, please notify me or Lisa Cousino immediately.

Thanks,
Shari
3-3859


Please note that I will be out of the office on Friday, 10/6/00.  In my
absence Tom Acton will be handling the Oasis & Lonestar interconnects at
Katy, and Mary Poorman will handle the nomination to Oasis and Cornhusker if
necessary, but it is already nominated for the weekend.

Thanks,
Mark
x33396


Attached are the comments that the Enron Pipelines filed in EL01-47 (Removing
Obstacles to Increased Electric Generation and Natural Gas Supply in the
Western United States):


Hey Guys.

I had a long talk with NCPA today and set up so that we again can do the
ZP26/NP15 Buy-Resale on a Realtime basis. We are not doing a profit split
this time, we are paying them $25/MW instead. This basically enables us to
shift 21MW across PATH15 and not be subject to Congestion as NCPA has
Grandfather Rights across the path. This is a sweet strategy when the
SP15/NP15 spread is there and PATH15 is congested. NCPA's capacity is 21MW,
but I would not recommend doing more than 20MW. There are others who know
about this opportunity but are not currently using it (WESCO especially). So
by doing only  20MW we do not remind them of NCPA.

The way this works is that we call NCPA and ask their capacity across PATH15.
And tell them you want to schedule the BR through whatever hour.

IN CAPS:
We sell to NCPA in ZP26.
We buy from NCPA in NP15.

We can buy SP15 to fill our ZP26 sale (we just shift the load from SP15 to
ZP26, so enter a EPMI CALPOOL).
PG&E is NCPA's SC, so if you are not passing Phase two give them a call.

NCPA's tel#: (916) 786-3520
PG&E tel# : (415) 973-1969

If you guys have any questions  just ask me.

Geir


Please see my additional comment.  I think this is acceptable if the cp
agrees.  -Tracy

From: Sara Shackleton on 04/13/2001 11:44 AM
To: Tracy Ngo/PDX/ECT@ECT
cc:

Subject: RE: ISDA Schedule/Paragraph 13

I'll call in a few

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 04/13/2001 01:43 PM -----

	Sara Shackleton
	04/12/2001 11:26 AM

		 To: "Yaish, Yair (OGC)" <YYaish@exchange.ml.com>@ENRON
		 cc:
		 Subject: RE: ISDA Schedule/Paragraph 13

Yair:

It's a good thing you didn't try to get back to me!  Sorrry.

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

	"Yaish, Yair (OGC)" <YYaish@exchange.ml.com>
	04/12/2001 10:16 AM

		 To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>
		 cc:
		 Subject: RE: ISDA Schedule/Paragraph 13

Sara, sorry i didn't get back to you yesterday, I was out sick.  I didn't
notice anything attached, did u send a subsequent e-mail?

-----Original Message-----
From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com]
Sent: Wednesday, April 11, 2001 4:01 PM
To: YYaish@exchange.ml.com
Cc: Tracy.Ngo@enron.com
Subject: RE: ISDA Schedule/Paragraph 13
Importance: High

Yair:

Attached is my redline.  Call me so that we can discuss the remaining
issues, including:

(1)  Calculation Agent.  We believe that the existing dispute mechanism is
adequate.

(2)  Procedures for Entering into Transactions.  There is no procedure for
dual confirms.  This is too confusing.

(3)  Transfer.  We cannot agree to your assignment provision as it is too
subjective.

The other changes were not substantive.

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

                    "Yaish, Yair
                    (OGC)"                To:
"'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>
                    <YYaish@exchan        cc:
                    ge.ml.com>            Subject:     RE: ISDA
Schedule/Paragraph 13

                    04/10/2001
                    07:46 AM

Sara, any thoughts on my comments ISDA I sent out last week?

-----Original Message-----
From: Yaish, Yair (OGC)
Sent: Thursday, April 05, 2001 6:19 PM
To: 'Sara.Shackleton@enron.com'
Subject: RE: ISDA Schedule/Paragraph 13

Sara, I have good news, I think we are very close to executing this baby.

I am attahcing comments to the ISDA.  They reflect comments by our outside
cousel which highlight the differences between this contract and the side
letter/ML ISDA.  They are not much.  I have also made some changes directly
on their draft where I either concurred with Enron or needed to make some
of my own changes.  Pls review and let me know what you think.

I will be leaving the office soon, so if we can wrap it up tomorrow that
would be great (I'm out Monday for Passover).

Yair Yaish
Director and Senior Counsel
Allegheny Energy Global Markets, LLC
212-236-7346

-----Original Message-----
From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com]
Sent: Friday, March 30, 2001 4:10 PM
To: yyaish@exchange.ml.com
Subject: ISDA Schedule/Paragraph 13

Yair:

Attached is a blacklined (against the Enron North America Corp. draft of
3/15/01) Schedule and Paragraph 13 to the ISDA Credit Support Annex.  I
have tried to incorporate the essence of the March 19, 2001 "swap side
letter agreement."  Please call me to discuss as it would be nice to
finalize by April 6.  Thanks.

(See attached file: 098a Blackline ctr (Allegheny Energy Supply).doc)

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


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

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

Crude     http://www.carrfut.com/research/Energy1/crude41.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas41.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil41.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded41.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG41.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG41.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL41.pdf

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


thanks for the update.  Please keep me updated today.....

Jeff

	Enron North America Corp.

	From:  Clayton Seigle                           10/12/2000 09:27 AM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: follow up on Saudi

Just to reiterate:  Yes the Saudis are against $40 oil or above.  However, if
the Israel thing gets bad and a lot of people die or it turns into a
religious war over al-Aqsa mosque, the rulers will come under serious
pressure to not help the West by producing more oil.

Arab leaders are holding a summit Oct 21 in Cairo.

CJS


Items immediately available:

Dinette Set:  $300. -   ( SOLD)
6 - Chair's
1 - Table W/ 2 Inserts
1 - China Hutch  (Match Table)
Dark Walnut Color

Side by Side Refrigerator:  $250.
Kenmore - 22.0 Cu. Ft.
Ice Maker & Water Dispenser in Door
Almond Color

Washer & Dryer:  $150  (Both)
Kenmore  Heavy Duty
Electric Dryer
Almond Color

Office Desk: $50.
Metal with Two Side Drawer's
(1) File Drawer size
Pull-out Pad and Pencil Drawer.
Grey File Cabinet Color

Misc. Items:
TV Stand:  $20.
Shop Work Bench (Wood/Stained):   $75.
Shop/Sports Storage Shelfs (Wall Unit - Wood):   $50

Contact:  J.R. - (713) 853-7588   or   (281) 376-7280 After 6:00 P.M.


Company: 000236     Arng: 66917-00009     Eff Date: 2001-11-22

                        ----- Receipt -----   ----- Delivery -----
                           Quantity  Cut CD      Quantity  Cut CD

Nominated                       225                   225
Working                         225                   225
Capacity Allocation               0  CCR                0
Confirmed                         0                     0


Sell 'em all.  There's no turnaround in sight.

What's going on??

KR


Dear Ms. Bothe,

I have forwarded my message to one of my associates who
specializes in weather derivatives.

Vince Kaminski

Britta Bothe <brittab@infocastinc.com> on 10/17/2000 12:38:33 PM
To: vkamins@enron.com
cc:
Subject: Invitation to speak at Infocast's Managing Summer Price Volatilit y
Conference in Houston

Dear Ms. Kaminsky:
As I just mentioned on your voicemail, Infocast is going to host a  Managing
Summer Price Volatility course, January 30 - February 1, 2001 in Houston.
The course will focus on the various tools at hand to manage summer price
and load volatility.  Our target audience for this event will primarily be
risk managers and managers in bulk power sales & purchase (our secondary
target audience is energy traders).

Attached you will find a draft program agenda for your review.  Please let
me know if you or someone else at Enron is interested in presenting at this
event.  In particular, we are looking for someone to talk about weather
derivatives.

I appreciate you taking the time to review the conference schedule and I
hope that I will have an opportunity to talk to you. Unfortunately, I am
running behind schedule in finalizing this program.  I will call tomorrow to
see what your feedback is.  If you have any questions or suggestions, please
do not hesitate to contact me at (818) 888-4445 ext. 30.

Sincerely,

Britta Bothe
Infocast
Conference Manager
(818) 888-4445 ext. 30
      <<Agenda 5.doc>>

 - Agenda 5.doc


fyi

gngr
713-853-7751
----- Forwarded by Ginger Dernehl/NA/Enron on 07/19/2001 12:36 PM -----

	Janette Elbertson/ENRON@enronXgate
	07/19/2001 12:03 PM

		 To: Al Alexanderson <Al_Alexanderson@pgn.com>@SMTP@enronXgate, Joseph
Alamo/NA/Enron@Enron, Tim Belden/ENRON@enronXgate, "Bishop, S"
<sbishop@gibbs-bruns.com>@SMTP@enronXgate, William S
Bradford/ENRON@enronXgate, Rick Buy/ENRON@enronXgate, C Ecklund
<cecklund@llgn.com>@SMTP@enronXgate, D Watkiss
<dwatkiss@bracepatt.com>@SMTP@enronXgate, David Aamodt
<David_Aamodt@pgn.com>@SMTP@enronXgate, "Day, M"
<mday@gmssr.com>@SMTP@enronXgate, David W Delainey/HOU/EES@EES, James
Derrick/ENRON@enronXgate, Douglas Nichols
<Douglas_Nichols@pgn.com>@SMTP@enronXgate, Robert Frank/ENRON@enronXgate,
Gary Fergus <gfergus@brobeck.com>@SMTP@enronXgate, Mark E
Haedicke/Enron@EnronXGate, Joe Hartsoe/Corp/Enron@ENRON, Steven J
Kean/NA/Enron@Enron, Louise Kitchen/ENRON@enronXgate, "Klauberg, John"
<jklauber@llgm.com>@SMTP@enronXgate, Dan Leff/HOU/EES@EES, Lisa
Mellencamp/ENRON@enronXgate, Mark Palmer/ENRON@enronXgate, Richard B
Sanders/Enron@enronXgate, Richard Shapiro/NA/Enron@Enron, Vicki
Sharp/HOU/EES@EES, Martin Smith/Enron@EUEnronXGate, James D
Steffes/NA/Enron@Enron, "Tompkins, Robin"
<Robin_Tompkins@pgn.com>@SMTP@enronXgate, Michael Tribolet/ENRON@enronXgate,
Greg Whalley/ENRON@enronXgate, Robert C Williams/ENRON@enronXgate
		 cc: Kay Chapman/HOU/EES@EES, Debra Davidson/ENRON@enronXgate, Ginger
Dernehl/NA/Enron@Enron, Kathy Dodgen/HOU/EES@EES, Mercy Gil/ENRON@enronXgate,
Stephanie Harris/ENRON@enronXgate, Karen K Heathman/ENRON@enronXgate,
Kimberly Hillis/ENRON@enronXgate, Leasa Lopez/HOU/EES@EES, Tammie
Schoppe/ENRON@enronXgate, Linda J Simmons/Enron@EnronXGate, Twanda
Sweet/ENRON@enronXgate, Liz M Taylor/ENRON@enronXgate, Jody
Underwood/ENRON@enronXgate, Cristina Zavala/SF/ECT@ECT
		 Subject: Cancelled - California Litigation Team Weekly Conference Call

The California Litigation Team weekly conference call scheduled for today at
2:00 p.m. Central time is cancelled.  Thank you.


what do you want for antonio freeman?


---------------------- Forwarded by Larry May/Corp/Enron on 09/11/2000 08:33
AM ---------------------------

"PIRAOPEC" <listserv@pira.com>@mrpc.com on 09/10/2000 07:07:06 PM
Sent by: Maiser@mrpc.com
To: "PIRAOPEC" <listserv@pira.com>
cc:

Subject: OPEC LOG

OPEC LOG: SUNDAY, SEPTEMBER 10TH

THE AGREEMENT

OPEC will complete deliberations on Monday but for all practical purposes
the deal is done. They have agreed to raise allocations by 800 MB/D on a
prorata basis beginning October 1st. The increase is until the next meeting
which will be November 12th in Vienna. This rather early data was chosen
because of the already scheduled Producer/Consumer Dialogue in Saudi Arabia
November 17-19 and the beginning of Ramadan religious observance beginning
November 27th and lasting for approximately one month. The price band and
OPEC output response mechanism (20 consecutive business days above $28/BBL
basket price, increase output 500 MB/D, 10 consecutive days below $22/BBL
basket, decrease 500 MB/D) will remain in effect with obviously a clean
slate to start the price tracking process.

Saudi Arabia pretty much got its way at the meeting, asking for a 1 MMB/D
increase and compromising on 800 MB/D. Of course the increase is prorata
which implies an increase in the Saudi allocation of 260 MB/D, bringing its
total allocation to about 8.5 MMB/D. Saudi crude output is estimated to have
been almost 8.8 MMB/D in August(including 140 MB/D Abu Safa output produced
on behalf of Bahrain). PIRA expects Saudi Arabia's crude output increase to
be on top of its current over-production bringing total output to nearly 9.1
MMB/D. Since with the exception of Saudi Arabia and the UAE, all the OPEC
members are essentially at capacity, the 800 MB/D OPEC allocation increase
should translate into a production increase of only around 400 MB/D. Saudi
Arabia and the UAE have allocations equal to 41.2% of the OPEC total(now
26.2 MMB/D excluding Iraq).  With August/September OPEC crude output at
around 29 MMB/D, fourth quarter crude output will be around 29.5 MMB/D
assuming Iraq at 3.0 MMB/D.

MARKET BACKGROUND

Commercial oil inventories remain quite low with the three major OECD
markets--U.S., Europe and Japan-- ending August with the lowest level in
over 10 years. PIRA would not be surprised to see inventories revised up
somewhat for Europe for the end of the second quarter, but this will not
materially change the likely end August position.

In addition to low inventories, the world is operating with very little
spare producing capacity. With OPEC crude output at 29.5 MMB/D in the fourth
quarter, there will only be some 0.5 to 1.0 MMB/D of instant spare producing
capacity remaining. This number will certainly increase in time, but for at
least the first half of the fourth quarter there is not much room for any
interruption in expected supply for any reason (hurricanes, Iraq saber
rattling, earthquakes, etc).

Also, the lead seasonal product distillate(gasoil/diesel) is in great shape
and with substantial refining margins there is plenty of headroom for crude.
Add to the mix very low PADD II crude stocks, positive technicals and
seasonals, at most only ten million barrels of current net speculative
length in the NYMEX crude contract and continued strong economic growth and
you have rather impressive positives for price.

SHORT TERM MARKET BALANCES & PRICES

With fourth quarter OPEC crude output at 29.5 MMB/D, world onshore oil
inventories should draw only 100-200 MB/D in the quarter. Thus assuming
normal early winter weather, stocks will remain very low but not, on
average, decline significantly. For the three major OECD markets, commercial
inventories should end the year 1-2% above the year earlier.

In these circumstances and given the very positive market factors noted
above, it is hard to see oil prices taking a big hit downward as a result of
the OPEC agreement. PIRA would expect the very initial market reaction to be
negative given that the agreed increase is somewhat more than anticipated.
The market will then probably consolidate given that there is a good deal of
confusion about the impact of the agreement. Given the current very strong
fundamentals an upward price bias is likely to quickly return. However, one
major wildcard negative for price first needs to be sorted out.

THE POTENTIAL U.S. SPR SWAP

If the United States is going to use the SPR to swap current barrels from
the strategic reserve to be replaced in the future, the market will find out
this week. With the U.S. Presidential election on November 7th, October
pipeline scheduling completion on September 25th and probably ten days to
carry out an auction, this is the last window of opportunity to have a
meaningful impact before the onset of winter and the election. With SPR
barrels being short haul, as opposed to 45 days away for any incremental
OPEC oil, its impact on oil prices would be far greater than OPEC's current
agreement. Moreover, if the decision is made to use the reserve in this
fashion, the Secretary of Energy is likely to decide to make sure it has the
desired impact of bringing prices down substantially by offering to swap
very substantial volumes. PIRA rates the odds of a swap at 55%.


Calgary  2 people Dawn Doucet lead.

Portland 2 people Julie Kearney is lead.

Houston:
Slone = Lavo and Gas
Fitzpatrick = Louise and retail risk management, plus some projects.
Melodick = power
Davies = recuiting
Buckley = trading track and AA's.
Oquinn/Broussard = compensation.
One assistant and one H.R. associate.

Plus me, Julie Clyatt and a share of corp charges for payroll, benefits, EEOC (compliance), HRIS, other AA stuff and Corp reporting.

I make this about 15 full time people and probably the equivalent of another 7-10 for these other functions, plus their expenses. If you want I can try to nail down some names for these people but I'm not sure that makes a whole lot of sense. They are more efficiently pooled.

David
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


-----Original Message-----
From: Carolyn Ashley [mailto:Cashley@poha.com]
Sent: Friday, November 09, 2001 11:10 AM
To: Davis, Dana
Subject: FW: Restaurant Order

>  -----Original Message-----
> From: 	Shirley Huff
> Sent:	Thursday, November 01, 2001 3:47 PM
> To:	Carolyn Ashley
> Subject:	FW: Restaurant Order
>
>
>
> -----Original Message-----
> From:	Cheryl Woolridge
> Sent:	Thursday, October 25, 2001 5:26 PM
> To:	Shirley Huff
> Subject:	Restaurant Order
>
> Have fun with this one!!!!!
>
>  <<Rickey Smiley - Rottweiler Lips.mp3>>


Alan:
I received your email.  I'll make sure it goes through the proper channels.
It may help if you give specific positions that interest you most as Enron is
such a big place, it will help focus the resume to the right people.
John


Here's what's wierd:  I ran a Sales Volume Report for 2/21 only, and got a
total of  596,284.

On your report for the same day,  I get a total of 1,468,175.  That doesn't
include anything done by about 4 books that are supposed to be on mine!

I wonder what's up with that??  I just wrote to Duong luu to ask him about
the sales volume report.

   Kate Symes                02/22/2001 12:02 PM

To: Cara Semperger/PDX/ECT@ECT
cc:
Subject: Re: Do you track total new deal volume for each day?

I create a report each afternoon that tracks total volume done by each desk
through EOL and brokered deals. I've attached last night's report for you to
look over - if this looks like something you'd like to receive, let me know
and I'll add you to the mailing list.

And in regard to the dow jones file, I've just finished entering deals for
Friday and Saturday, so my afternoon will be devoted to creating that. I'll
let you know as soon as it's done.

Thanks,
Kate

Cara Semperger
02/22/2001 11:29 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Do you track total new deal volume for each day?

I am running a sales volume report, and am looking for a number to compare it
to.