BUSINESS HIGHLIGHTS

Enron Industrial Markets
Metal Bulletin - Iron and Steel Awards for 2000
Pushiest Entrant: Enron, the US commodity trading company, which promised it
would revolutionize the steel business by offering futures in hot rolled coil
via its online market place.

The EIM Fundamentals Analysis group is excited to announce that Dave Allan
has joined as a Director, responsible for all Forest Products lines.  He
comes to EIM with 20 years of experience in the Forest Products industry, of
which 14 were spent at Abitibi and 6 with Pulp and Paper Week.  Please join
us in welcoming Dave.

The Siebel Team (&The Force8) continues to work towards program
implementation of its customer management system in early May, with training
to begin at the end of April.  Stay tuned for updates.

Enron Global LNG
Enron Global LNG is positioning itself to be a creator and leader of a global
wholesale LNG market.  The rising prices of natural gas in the United States
and concerns over future energy supplies have created a bullish outlook for
LNG in the U.S. and around the globe.   LNG has played a major role in
serving energy needs in many parts of the world, but its place in the U.S.
energy picture has been limited. An LNG market that spans the globe can
supply vast amounts of otherwise stranded gas to the world,s growing appetite
for cleaner burning fuels.   Enron Global LNG sees great opportunity for
Enron,s wholesale energy business model to help shape yet another energy
market.

IN THE NEWS

Enron Corp. Says First-Quarter Profit Rose 20 Percent
Houston, April 17 (Bloomberg) -- Enron Corp., the largest energy trader, said
first-quarter profit rose 20 percent as sales almost quadrupled. Profit from
operations rose to $406 million, or 47 cents, from $338 million, or 40 cents,
in the year-earlier period.  Enron raised its 2001 profit forecast to $1.75
to $1.80 a share, from its January projection of $1.70 to $1.75.

First-quarter revenue surged to $50.1 billion from $13.1 billion as Enron
boosted the volume of power sold in North America by 90 percent. Enron had a
first-quarter gain of $19 million, or 2 cents a share, for an accounting
change, making net income $425 million, or 49 cents a share. There were no
charges or gains in the year-earlier period.

WELCOME
New Hires
EGM - Janelle Russell,
EIM   - David Allan, Sylvia Carter
ENA  - Sasha Divelbiss, Amy Quirsfeld, Judy Zhang, Annette Thompson, Kelly
Donlevy-Lee, Grant Patterson

Transfers (to or within)
ENA ) William Abler, Magdalena Cruz, Barbara Taylor, James Reyes, Marvin
Carter, Angel Tamariz, Jesse Bryson
EIM ) Cassandra Dutton, Christine Sullivan, Camille Gerard, Sherri Kathol,
Jennifer Watson
EGM ) Steven Batchelder

LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries.  It is intended for internal use only
and should not be disclosed.


I've changed it to off-peak only. I was entering forward deals to exercise
options yesterday, and they were all RTC besides this one - thanks for
catching that. It should be good now.

Kate

Stephanie Piwetz   03/27/2001 11:52 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Deal 428861.01

Kate, just happened to notice when they entered the leg 2 of the deal
428861.01.... is it suppose to be 7days a week, 24 hours a day,  the
428861.01 is off peak hours only.

Thanks


Let's discuss this.
----- Forwarded by Mark Taylor/HOU/ECT on 06/07/2001 11:50 AM -----

	exchangeinfo@nymex.com 06/07/2001 12:20 PM 	   To: mark.taylor@enron.com  cc:   Subject: (01-191) EXCHANGE TO SUBSTITUTE POSITION ACCOUNTABILITY REQUIREMENTS FOR POSITION LIMIT RULES

June 7, 2001
Notice No. 01-191

TO:
ALL NYMEX DIVISION MEMBERS
ALL NYMEX DIVISION CLEARING MEMBERS / MEMBER FIRMS

FROM:
NEAL WOLKOFF, EXECUTIVE VICE PRESIDENT

RE:
EXCHANGE TO SUBSTITUTE POSITION ACCOUNTABILITY REQUIREMENTS FOR POSITION LIMIT RULES

The board of directors of the New York Mercantile Exchange, Inc., has approved substituting position accountability requirements for the current position limits on all but the last three trading days of its crude oil, heating oil, unleaded gasoline, and natural gas contracts, beginning with the Friday, June 15, trading session.

For the last three days of trading in a particular delivery month, each of those contracts would continue to have a position limit of 1,000 lots.

The current net position limits levels will be reflected in the accountability levels. These are:

			Any one month	        All months
Crude oil		10,000			20,000
Unleaded gasoline	5,000			7,000
Heating oil		5,000			7,000
Natural gas		7,000			12,000

Any market participant with positions exceeding these levels may be contacted by the Exchange with inquiries regarding the participant's hedging requirements or financial condition. The Exchange would reserve the right to require that the position be reduced or capped.

There will no longer be any gross limits on the number of positions that can be held, as long as they are offset by positions on the opposite side of the market (example: a participant with 10,000 long positions in September, October, and November crude oil futures and 10,000 short positions for December and January would be considered to have a net position of 10,000 contracts).

These new rules are also intended to apply to the Brent crude oil futures contract, planned for launch this summer. The board has also approved a minimum reporting level of 100 lots for that contract.

These rules, which closely resemble those in place for metals traded on the COMEX Division, must be approved by the Commodity Futures Trading Commission prior to implementation.

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

"http://208.206.41.61/email/email_log.cfm?useremail=mark.taylor@enron.com&refdoc=(01-191)"

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.


Mark:

First, the new version of VisuPro (Version IV) will use standard local time,
not daylight time. This means that during the year it will be off by one hour
for 1/2 of the year.

Second, the plant pc cannot have more then one version and copy of VisuPro
running at one time. If it does then strange things happen. I will ask our
SCADA people to make sure that Joe does not run more then one copy of VisuPro
on any plant pc.

Regards

KLC

Mark Fisher
06/17/2002 09:18 AM
To: Ronald Brzezinski/EWC/Enron@ENRON
cc: Kevin Cousineau/EWC/Enron@ENRON, Joe Chapman/EWC/Enron@ENRON, Alaadin
Suliman/EWC/Enron@Enron, Hollis Kimbrough/EWC/Enron@ENRON

Subject: Questions/Observations about VisuPro

Ron,

While I was at Mill Run/Somerset last week a few things came up about
visupro.

First a question about the new version. As I understand it, the new version
is going to use "local time". Is this local STANDARD time or local time
(taking Daylight Savings time into account)? The owner's representative
indicated a preference for local standard time.

Now for a couple of things Joe Thorpe at the site mentioned. He has observed
that if two copies of visupro are running at the plant, then 10-minute data
does not get written. Second if visupro (at the plant) has the errdev file
open, then new data does not get written to the file. Are you aware of these
observations? If not you might want to contact Joe Thorpe and see if he has
additional examples, and do some kind of testing. These are probably issues
with the way that Paradox locks files.

Mark Fisher


Did you check with Steve about the rodeo on February 18th?  I want to try to
get tickets this evening.

Talk to you later.


I just set up all the deal tickets for the CGAS New Power storage contract
for Nov-Mar.  We believe our agency relationship with New Power will end
effective March 31, 2001.  The deal numbers are on the attached worksheet.

I entered the following deals at a zero commodity
470563  Buy exchange
470582  Sell Cpr Storage

470587 Buy CPR Storage
470568 Sell exchange

I added about 7500 dth to deal 456379 for November and I extended it through
March 31.

I'm kinda sleepy so I probably made a few mistakes.


Justin and Paul:

To follow up on our last call, I will be out of the office on the scheduled
date of the next call, ie., Tuesday, March 13.  As we discussed, Mark Taylor
will host the meeting in my absence.  Please call Mark at the regular time.
His extension is 3-7459.

Thanks,

Jeff


Kev,

Jacob Gurgevich

DP

-----Original Message-----
From: Kevin.M.Presto@enron.com
To: dpresto@clearskybroadband.com
Sent: 3/22/01 9:14 AM
Subject: Re: reminder

I need the name of Lisa's son to officially set up the Dr. appt. in Dr.
Ott's office.
---------------------- Forwarded by Kevin M Presto/HOU/ECT on 03/22/2001
11:13 AM ---------------------------

 (Embedded     Enron North America Corp.
 image moved
 to file:      From:  Kevin M Presto
 pic01752.pcx) 03/21/2001 07:14 AM

To:   Darin Presto <dpresto@clearskybroadband.com> @ ENRON
cc:
Subject:  Re: reminder  (Document link: Kevin M Presto)

Don't worry about a rental.   I can pick you up at the airport.   I am
trying to confirm an appt. today.   I'll let you know.

 <<pic01752.pcx>>


04:33 20Nov2001 RSF-Platt's: Enron sees cash drain, warns on survival

New York (Platts)--20Nov2001/533 am EST/1033 GMT Enron filed Q3 financials late Monday, revealing a huge cash drain, despite last week's $1.5-bil asset-backed infusion from merger partner Dynegy. Enron said its cash Friday had fallen to $1.2-bil, even with the Dynegy payment three days earlier, $550-mil drawn on a new bank line last week and $3-bil drawn on existing lines earlier this month to pay off $1.9-bil of commercial paper. Enron blamed operating costs, trade settlements and collateral deposits paid to trading partners. Enron said it expects $800-mil soon from asset sales and got another $440-mil bank line Monday. But it warned it might not be enough to keep its investment-grade credit rating or restructure debt coming due. That could have a "material adverse impact on Enron's ability to continue as a going concern," it warned.


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annmn:[043i3g043i3g51Jmx2012000mduL4du88]


David, do we need to "volunteer" people to participate?  Do we want a more
structured process?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/10/2000
06:04 PM ---------------------------

	Enron North America Corp.

	From:  Shelly Jones, Recruiting Manager @ ENRON
10/10/2000 06:03 PM

Sent by: Enron Announcements@ENRON
To: All Enron Employees North America
cc:
Subject: Associate/Analyst Super Saturday Participation

Enron Managing Directors, Vice Presidents, Directors, and Managers  Who
Utilize the Associate/Analyst Pool

As a follow up from a "SAVE THE DATE"  email regarding your participation in
the  Associate and Analyst  Super Saturday process, now is the time to select
your dates to attend and participate.

Below are the dates for Super Saturday weekends during the upcoming
recruiting season.  If you are Houston-based or if you know you will be in
Houston on business at the appropriate times please click the link below to
volunteer.

http://axis.enron.com/notice/ssinvite.asp
(When selecting dates please avoid selecting to interview candidates who
attend the schools for which you are a team member.)

Associates     Analysts
October 27-28, 2000    November 3-4
Thunderbird, UT, Georgetown, Rice  Rice, UT, Baylor, A&M, OU, Florida, LSU,
UHCL

November 10-11, 2000    November, 17-18, 2000
Columbia, Stern NYU, UCLA, Darden, Cornell Penn, UVA, Vanderbilt, Michigan,
Howard, AUC,
Vanderbilt, Michigan    UHMain

December, 1-2, 2000    December 8-9, 20000
Chicago, Kellogg, Harvard, Wharton, MIT Wellesley, overflow and re-schedules
from previous s/s

Friday, December 15, 2000
Carnegie Mellon

Thank you for your support of the Associate and Analyst Programs.
Shelly Jones
Recruiting Manager


Ditto Credit.

	Tana Jones@ECT
	04/10/2001 05:24 PM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Marcus
Nettelton/NA/Enron@ENRON, Harry M Collins/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron,
Andrea Calo/SA/Enron@Enron, Peter Keohane/CAL/ECT@ECT
		 cc:
		 Subject: EOL approvals, 04-10-01

----- Forwarded by Tana Jones/HOU/ECT on 04/10/2001 05:24 PM -----

	Walter Guidroz/ENRON@enronXgate
	04/10/2001 05:20 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom
Moran/ENRON@enronXgate, Claudia Clark/HOU/ECT@ECT, William S
Bradford/ENRON@enronXgate, Lisa Lees/HOU/ECT@ECT, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect, Amy Heffernan/Enron Communications@Enron Communications,
Molly LaFuze/Enron Communications@Enron Communications, Danny Clark/Enron
Communications@Enron Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/Corp/Enron@Enron, Bill Kyle/NA/Enron@Enron
		 cc:
		 Subject: EOL approvals, 04-10-01

Please see attached; thanks.


Loftus,

Here's the file.  If you break the date column up into three separate columns
for month, day, and year then you can use subtotals and/or pivot tables to
analyze the data a little more quickly and dynamically.  For example, you
might want to look at the extremes or averages for any particular month or
year or whatever.  I c an help you do this if you want.    Remember that this
is a very limited data set statistically speaking, especially considering
that the last 3 winters were far above normal.  If you want to investigate
what the possible extreme scenarios are based on past history then I can get
you the data for many decades further back if wish.  Just let mw know.

Thanks,

Charlie


"....also, some annoying requests- katy forgot all the
minutemade frozen limeade she'd promised to bring for our Eagles marg party,
and the jerky from dad - suspiciously, she remembered my pocket-sized
neosporin tube......but anyways, it would be FABULOUS if you and lisa could
each cart over 3-4 tubes of the limeade wrapped in plastic
(carry-on....obviously could be ugly in non-pressurized cabin in suitcase!)
doesn't matter if thaws, but will need approx 7-10 tubes for the
festivities, plus, dad has that great turkey jerky from NB to send
along...."

Fear not, I have the turkey jerky.

Address...118 Portland Road (the postcode is W11 and the tube stop is Holland Park)

Phone #...011 44 2072 43 1926 (this is with the country code so I'm not sure exactly what you dial in London, I 							know you have to knock off the 011 and possibly the 44)

If you end up taking the tube you'll walk out of the tube station and take an immediate left.  Walk roughly two blocks and then take another right onto Portland Road.  There will be a pizza place right on the corner.  You'll walk all the way down Portland road until it looks like the road ends in a cul-de-sac.  The roads actually continues on the other side of a little bricked area with benches (a place called Janie's Wine Bar will be on your immediate left).  Emily's flat is in the row of flats to your right and the number is on the door (which if I remember correctly is blue).

See you there,
Sue


Due to a fit of holiday impulse buying, there is a stocked Easter basket at
my desk for all to share.

Have a good holiday, and come get a little something sweet!

C


Start Date: 3/10/01; HourAhead hour: 2;  HourAhead schedule download failed.
Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001031002.txt
!!!General SQL error.
Couldn't update; currently locked by user 'admin' on machine 'ECTHOU-BPS4'.
Table
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
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don't worry about it

Shanna Husser@ENRON
06/30/2000 12:54 PM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Cancun

Why?  Just b/c it wasn't what I was thinking??  You are so argumentative-
maybe you really should consider law school.  No seriously- if that is really
what you would rather- it is not a big deal to me.

But- when the new Harrison Ford movie comes out- we are going to see that.
Opens late July.

	From:  Eric Bass @ ECT                           06/30/2000 12:49 PM

To: Shanna Husser/Corp/Enron@ENRON
cc:

Subject: Re: Cancun

im thinking perfect storm

Shanna Husser@ENRON
06/30/2000 12:44 PM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Cancun

the patriot

	From:  Eric Bass @ ECT                           06/30/2000 11:35 AM

To: Shanna Husser/Corp/Enron@ENRON
cc:

Subject: Re: Cancun

by the way we are going to see either the patriot or the perfect storm
tonight - so decide!

Shanna Husser@ENRON
06/30/2000 10:58 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Cancun

Looks nice.  I just had my meeting with my V.P.- looks like I will be doing
my next rotation through EES tax (starts Aug 15th).  I hear it is a real good
group to work with (real smart and nice people)- but I think they put in a
lot of overtime- especially during federal compliance and some during state
compliance time.  Anyway- state compliance is in September and October- so
going before I rotate in August  might not be a bad idea- although I really
think they would let me take vacation whatever time I asked for.  Side
thought- when in the hell am I going to study for the CPA- especially since I
have NO motivation and I am about to enter a group that has lots of OT.  You
do realize that I am never going to pass that exam- and I'll probably lose my
job- and then either you or my family will just have to take care of me.  I
am feeling a little stressed/anxious today for some reason- in case you
didn't pick up on that.  I definately feel like I need a vacation.

	From:  Eric Bass @ ECT                           06/30/2000 10:23 AM

To: Shanna Husser/Corp/Enron@Enron
cc:

Subject: Cancun

check out this site.  louise starts school aug 14, so if we all go it would
have to be before then.
---------------------- Forwarded by Eric Bass/HOU/ECT on 06/30/2000 10:22 AM
---------------------------
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Cancun

Check out www.palaceresorts.com and go to Moon Palace.  Runs about $1200 for
a 3 night stay/couple.  I am not full of shit, I will do it.


SBX2 27 (Bowen), which authorizes green direct access, passed out of the
Senate on a 24-5 party-line vote.


Sharon:

Mr. Lay's e-mail address is kenneth.lay@enron.com

Please let me know if you have any other questions.

Thank you


I received a call from the plant, apparently, they shorted us 60 Dth on the
3rd of November.  However, someone opened the valve on the 20th and they
flowed 69 Dth into the pipe without a nomination.  The plant is asking if we
will phone Tennessee and accept allocation of this volume.  I realize that it
is really not alot of net difference volumetrically, but, the market has been
volatile and prices have risen significantly since the Nov. 3rd.  I also
don't know what the market situation is like on TGPL, would we be creating an
imbalance on a contract, is there a market to allocate to, are there any
potential penalties?   I would like to resolve this today, if at all possible.

Please advise.

Mary


Guided Afghan Hunt, watch your volume in the beginning.
 -----Original Message-----
From:   Reel, Brad [mailto:Brad.Reel@smedica.com ]
Sent:   Tuesday, October 16, 2001 2:48 PM
Subject:        FW: THE HUNT
Importance:     High
  <<rock103.com.afghanihunt.mp3>>

 - rock103.com.afghanihunt.mp3


FLASH FLOOD WARNING NATIONAL WEATHER SERVICE HOUSTON/GALVESTON TX 514 AM CDT THU JUN 7 2001

THE NATIONAL WEATHER SERVICE HAS ISSUED A

* FLASH FLOOD WARNING FOR...   HARRIS COUNTY IN SOUTHEAST TEXAS   FORT BEND COUNTY IN SOUTHEAST TEXAS

* UNTIL 815 AM CDT

* AT 509 AM CDT...DOPPLER RADAR INDICATED VERY HEAVY RAINFALL           ASSOCIATED WITH A STATIONARY FEEDER BAND FROM NEAR ORCHARD TO         RICHMOND TO SUGARLAND TO BELLAIRE TO CHANNELVIEW. RADAR ESTIMATES     SHOW 2 TO 5 INCHES AS HAVING FALLEN IN THIS CORRIDOR MAINLY OVER      FORT BEND COUNTY.

* FLOODING IS EXPECTED IN OR NEAR...   BARRETT...BAYTOWN...BELLAIRE...BUNKER HILL VILLAGE...RICHMOND AND     ALONG THE HIGHWAY 59 CORRIDOR...ESPECIALLY FEEDER ROADS.

ADDITIONAL HEAVY RAINFALL OF 1 TO 4 INCHES WILL BE POSSIBLE ALONG  THIS AREA.

SMALL CREEKS...STREAMS...BAYOUS...UNDERPASSES...AND FEEDER ROADS MAY FLOOD QUICKLY. AVOID LOCATIONS WATER COVERS THE GROUND!

USE EXTRA CAUTION AT NIGHT WHEN IT IS HARDER TO RECOGNIZE THE DEPTH AND SPEED OF FLASH FLOOD WATERS.

PLEASE REPORT FLOODING TO THE COUNTY SHERIFF...LOCAL POLICE...OR DEPARTMENT OF PUBLIC SAFETY. THEY WILL RELAY YOUR REPORT TO THE NATIONAL WEATHER SERVICE.

LAT...LON 2998 9504 2980 9575 2968 9603 2963 9601           2956 9606 2948 9595 2953 9545 2960 9539           2961 9528 2957 9525 2964 9502 2976 9492           2982 9492 2987 9499


I hope that you are coming back out to Enron.  Nothing much happening here except the stock price is sinking like a rock.  Ken Lay spoke to the employees this morning trying to raise the spirit.  He said don't panic, it will get better.  Let me know if you are going to be out here and lets do lunch.

-----Original Message-----
From: edna.l.lopez@us.andersen.com [mailto:edna.l.lopez@us.andersen.com]
Sent: Tuesday, October 23, 2001 10:47 AM
To: mfischer@enron.com
Subject: Good Morning
Importance: High

Hi, Mary -

Well, I am no longer at Plains, and I am now back in the office.  I went
over to Duke (Galleria) for about 3 weeks - it was really great.  I am
suppose to be going out to Enron next week, but who knows.  What's
happening over there or as we like to say "down the street"?  If I do get
out there, let's try to do lunch.  I'll keep you inform of my schedule.

Bye,
Edna

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BR-

Are you still in H-town?  Give me a holler.  I'm working with Chase Asset
Management down town and housesitting in River Oaks.

I'll be down here until Aug. 24- we'll have to grab some drinks, etc....

Derek


Thanks for your help.

From: Jeff Dasovich@ENRON on 03/15/2001 11:41 AM
Sent by: Jeff Dasovich@ENRON
To: Vicki Sharp/HOU/EES@EES, Robert C Williams/Enron@EnronXGate, James D
Steffes/NA/Enron@Enron
cc:
Subject:

Well done.  One other point:  If the PUC rules on the 27th that the rate
freeze is not going to end retroactively, that should put Ken Lay in a much
stronger position to negotiate with Glynn on reaching a deal on payment.

Best,
Jeff


Hey Stephanie, we need to revise this list because it does not make sense at
least with respect to ENA.  It does not list key people (e.g. Gary) and it is
inconsistent with the resolutions.  For example, the resolutions say that a
managing director and treasurer can be a designated person to open an account
but ENA does not have such an officer.  There are MD's and then there is a VP
and Treasurer.  There are I think other inconsistencies we need to clear up
to avoid having the accounts invalidated.  Having these points clear is
especially important where, like now, we won't have Gary or Mark Frevert sign
because they are out of town and we need to open the account right away.

I know you are swamped so I will work tonight on revising the List for ENA
tonight and give the revisions to do first thing in the morning.

Can you revise the List for ECT today (or just doublecheck it) so that we do
not have a hold up in executing the Goldman International account for ECT
first thing in the morning.  I promised Sheila Glover we would execute it
right away.

Did we open any ENA accounts in the past two weeks and if so, just to be
clear, can we send them a list that includes Gary's name and title if he
signed.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693


It is with sadness and regret that we announce that Cliff Baxter is resigning
as an employee of Enron.  We are happy, though, that Cliff,s primary reason
for resigning is to spend more time with his family.

Cliff is a unique talent.  His creativity, intelligence, sense of humor, and
straightforward manner have been assets to the company throughout his
career.  He will be missed.

Cliff joined Enron in 1991 and was a key member of the team that built Enron,
s wholesale business.  Before becoming Vice Chairman of Enron, Cliff served
in a variety of positions in Enron,s wholesale businesses, culminating in his
appointment as Chairman and Chief Executive Officer of Enron North America in
1999.

We have asked Cliff, and he has agreed, to continue in a consulting role for
the company while concluding negotiations on a number of key asset
dispositions.

Please join us in thanking Cliff for his service to the company and in
wishing him the very best.


It's just been changed.

Evelyn Metoyer@ENRON
02/08/2001 01:33 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 516651

Mike Swerzbin
deal 516651
Kate Bloomberg shows delivery as PV and we show Mid-C.


Latest docs.
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/20/2000 04:02
PM ---------------------------

"George Kutzschbach" <gkutzschbach@fulbright.com> on 12/20/2000 04:00:27 PM
To: Ben.F.Jacoby@enron.com, Kay.Mann@enron.com, CCampbell@KSLAW.com,
JKeffer@KSLAW.com
cc: DPedigo@INTERGEN.com

Subject: Certain revisions to LLC Agreement

Attached is a copy of the last draft of the LLC Agreement prepared by
ENA which I have revised to incorporate the changes discussed in your
recent telephone conversation with Doug Pedigo.  In the interest of
time, I have not revised the attached LLC Agreement to reflect the
substitution of Sweetgum for Tejas.

Section 6.1(c)(iii) was revised to reflect Sweetgum's right to freely
assign its LLC interest.  Section 6.2(a) was revised to reflect
Sweetgum's right to exercise the call at any time if it either obtains
or waives the GE consent.  Section 6.2(c) was revised to allow ENA to
exercise its put at any time (i) if it obtains GE's consent in form and
substance satisfactory to Sweetgum in its sole discretion or (ii) after
all GE warranties have expired.

To expedite matters, I am forwarding these changes to you at the same
time I am forwarding them to Doug.


Karen,

Please provide a redline version of this document against the Fehr option, or
whichever previous document you started with.

Thanks,

Kay

"Way, Karen S. - CHI" <karen.way@piperrudnick.com> on 10/16/2000 08:42:52 AM
To: "'fred.mitro@enron.com'" <fred.mitro@enron.com>,
"'rusty.stevens@enron.com'" <rusty.stevens@enron.com>, "'kay.mann@enron.com'"
<kay.mann@enron.com>
cc: "Shindler, Donald A. - CHI" <Donald.Shindler@piperrudnick.com>, "Gershon,
Mark A. - CHI" <Mark.Gershon@piperrudnick.com>, "Townsend, Christopher J. -
CHI" <chris.townsend@piperrudnick.com>

Subject: Titan-Schaeffer Option to Purchase

 <<30FK203_.DOC>>
Kay, Fred, and Rusty:

Attached hereto please find the Draft Option to purchase for the
Titan-Schaeffer acquisition in Livingston County, Illinois for your review.
Per Rusty's and my conversation,  the option has 1) a $4000 option payment
for an 18 month term; 2) a $4000 renewal payment for an additional 18 month
term; 3) farm tenancy provisions to allow the Optionor to continue to farm
the land.  Please note we need to order preliminary title on the property to
confirm if the property is held solely by Mr. Schaeffer or if his wife or
other is also a fee holder.  Additionally, on page 7, please let me know
what cap, if any, we are willing to place on reimbursement for soil
preparation costs (we allowed $25 per acre on the Konicek option).  Please
feel free to call me with any questions or comments.  Thanks and talk with
you shortly.

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347

____________________________________________________________________________
The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
privileged.  If the reader of this message is not the intended recipient, you
are hereby notified that any dissemination, distribution, or copying of this
communication, or any of its contents, is strictly prohibited. If you have
received this communication in error, please re-send this communication to
the sender and delete the original message and any copy of it from your
computer system.
Thank you.

For more information about Piper Marbury Rudnick & Wolfe, please visit us at
http://www.piperrudnick.com/
____________________________________________________________________________

 - 30FK203_.DOC


so i am going to be a brat all day!


I am no longer at Enron and am available at sanjaybhatnagar00@yahoo.com. My
US mobile after 15th March will be 832-368-4164 and my mobile in India is
91-98102-67215 when I am in India.


For the month of June there will be weekly Budget Meetings every Tuesday @ 11:00 a.m. in EB32C2.  Please mark your calendar accordingly.  Please notify me only if you are unable to attend.

				June 5, 12, 19 & 26 in EB32C2 @ 11:00 a.m.

Many Thanks,

Liz Taylor x31935


Also, as an FYI, you need to make sure you contact John Postlethwaite regarding West Power and Kathy Reeves for Canada Power.

 -----Original Message-----
From: 	Gorny, Vladimir
Sent:	Tuesday, February  5, 2002 4:28 PM
To:	Valdes, John; Keiser, Kam; Vinson, Donald Wayne; Evans, Casey
Cc:	Mcginnis, Stephanie; White, Stacey W.; Gossett, Jeffrey C.; Warwick, Todd; Hayden, Frank; Port, David
Subject:	Proposed Book Hierarchy

John/Kam and Donnie/Casey,

Attached is the proposed hierarchy for Day 1 of testing (Wednesday afternoon as I understand) - see "VaR Hierarchy" tab in the spreadsheet. Please confirm that my population of books is complete and accurate.

 << File: Consolidated Books 2.xls >>
Thanks, Vlady.


I am sorry I did not get to you first and let you know.  My apologies.  I really appreciated your interest in the position and your commitment to ETS.  You are a quality individual and I respect you for that.  Thanks.

 -----Original Message-----
From: 	Holmes, Bradley
Sent:	Thursday, November 15, 2001 4:52 PM
To:	Horton, Stanley
Subject:	Thank you

Stan:

Shelley informed me this morning that it has been decided that Steve Hotte will remain at EGS as the CIO.  I wanted you to know that I believe this decision is the best outcome for your organization at this time.

In addition, I wanted to express my appreciation for considering me for the CIO position.  Although I have been at Enron a short time, I am pleased that I have the support of your management team and have exhibited to them that I have the capabilities of operating at the officer level.

As we go through the inevitable changes that will occur through the merger, you have my commitment that I will focus my team on their ETS projects.  I truly believe we can impress Dynegy with our outstanding pipeline operations and our strategic initiatives.

Thank you,

Brad Holmes


We'll cover the meeting without you.  Meeting notes will be generated following the meeting.

 -----Original Message-----
From: 	Corman, Shelley
Sent:	Monday, February 25, 2002 10:02 AM
To:	Nacey, Sheila
Cc:	Holmes, Bradley
Subject:	RE: Agenda for the Monday Cash Flow Meeting

I'll try to attend this meeting if you need me.  I have a CLE class out of the office from 12-2 today.  But, I would like to dispel the suggestion that Jerry put together the spreadsheet for me.  I'm very enthusiastic about the AR tools that Jerry & Jim have developed and I'm happy that the reports seem to also serve the needs of the finance folks, but I feel like I made it clear that the customer service reps (like Marion) that are on the front line of collecting monies are the main clients of Jerry's reports.   If the tool needs to be modified to better meet their needs -- then it should be modified.  I'm all for automation and less manual intervention.

 -----Original Message-----
From: 	Nacey, Sheila
Sent:	Monday, February 25, 2002 9:15 AM
To:	Corman, Shelley
Subject:	FW: Agenda for the Monday Cash Flow Meeting

Shelley--If you have time on your schedule, would you also attend this meeting.  The reason I've scheduled this meeting is to determine exactly what it is John Keiser needs for cash flow analysis and what we can do to automate Jerry's process such that it doesn't require so much manual intervention and is more dependable.  (Marion spends too much time reconciling to Jerry's spreadsheet when she needs to be contacting customers for collections.)  I believe Jerry put this together for you, so your thoughts would be appreciated.  Sheila  (We're meeting in EB3907 at 2:30 pm.)

 -----Original Message-----
From: 	Skertich, Gerald
Sent:	Friday, February 22, 2002 3:30 PM
To:	Nacey, Sheila; Holmes, Bradley; Cherry, Paul; Dietz, Rick; Keiser, John; Studebaker, James
Subject:	Agenda for the Monday Cash Flow Meeting

 Attached is the Agenda and attachments for the Monday PM Cash Flow meeting. For those of you who are not real familiar with the process, we are attaching all related files to give you a chance to prepare for the meeting.

Please bring your copy to the meeting.

 << File: AGENDA 22502.doc >>  << File: ARFLOWCHART.xls >>  << File: CASH FLOW MODEL.xls >>  << File: FEB02AR.xls >>  << File: RECOMMENDATION-AR.doc >>

Jerry


Here is the latest on this issue:

On Monday, Austin Energy asked if they could take early title certain
equipment (the foxbourgh equipment - sp?) in order to "work around" an
internal budget issue.  Apparently, if AE takes early title, they will be
able to pay for the equipment (approx $440,000) from another fund and avoid
the appearance of being over budget on the 4 LM project.
Based upon my discussions with various internal groups, ENA is comfortable
with either option #2 or option #3 below.  See the tax response from Warren
below.  David Marshall is comfortable from an insurance perspective.  Kay
Mann (lawyer on GE breakout contract) confirmed in a voicemail that she did
not anticipate the title transfer creating an issue with the warranties
granted to ENA in the breakout agreement.
Keenan phoned Chris Kirksey yesterday to relay the message that based upon
preliminary discussions, we are comfortable with either approach.

Next Steps:

Jeffrey anticipates hearing from Chris today to get preliminary feedback on
if Austin needs title (option #3) or if the "acknowledgement letter" (option
#2) would suffice.
Monday, December 4, there is an internal meeting to discuss the topic.

Let me know if you have any thoughts or concerns.

Regards,

Eric

Warren Schick@ENRON
11/28/2000 09:01 AM
To: Eric Booth/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Patrick Maloy/HOU/ECT@ECT, Matthew F Gockerman/HOU/ECT@ECT, Billy
Lemmons/Corp/Enron@ENRON, Stuart Zisman/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT,
Jeffrey Keenan/HOU/ECT@ECT, Eric Booth/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Update: Austin Project Property Tax Issue

Eric:

Regarding the various scenarios you discussed I think the best, from a
property tax prospective, is proposal #2.  It is not reasonable to think that
the taxing authorities will overlook the property as discussed in #1.  The
City of Austin is a taxing unit within Travis County and there is a good
possibility that they will go after the value and assess it all to ENA.  We
would be in a much stronger position if we took the proactive approach with
an agreement as discussed in #2, and if the question was ever raised we would
have the explanation in our "hip pocket".

Please call me if you have any questions at 30689.

Warren

Eric Boyt
11/27/2000 03:31 PM
Sent by: Eric Boyt
To: Warren Schick/Corp/Enron@ENRON, Patrick Maloy/HOU/ECT@ECT, Matthew F
Gockerman/HOU/ECT@ECT
cc: Billy Lemmons/Corp/Enron@ENRON, Stuart Zisman/HOU/ECT@ECT, Ben
Jacoby/HOU/ECT@ECT, Jeffrey Keenan/HOU/ECT@ECT, Eric
Booth/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Update: Austin Project Property Tax Issue

Gentleman,

I have discussed the property tax issue with Billy Lemmons, Stuart Zisman,
Ben Jacoby and Jeff Keenan.   A couple of thoughts came to mind and we need
your opinion on these matters so we can take the most appropriate steps
necessary to reduce the potential tax liability.

First, a couple of facts for clarification:

It is anticipated the turbines (and transformers) will be on the City of
Austin site on or before 12/31/00 (the City owns the land);
It is anticipated ENA will be the legal owner of the assets on 12/31/00 (the
NEPCO assignment will not be complete);
Under the current participation agreement, the City of Austin will not take
title to their 91.4% ownership until the plant is complete and successfully
tested (sometime 1Q 2001);
However, by 12/31/00 the City of Austin will have paid for 100% of their
ownership in the plant ($85,641,800);
The tax liability could be $250,000 per turbine, $1,000,000 in total.

The thoughts/ideas are as follows:

Is it reasonable to assume the Travis County taxing authorities will not tax
the equipment at all because it will be located on land owned by the City of
Austin at year end?  What is the probability they will actually review items
of the property and trace legal owner?
If #1 above is a risky position, and one you would not support, would it be
acceptable to the taxing authorities, in your opinion,  for ENA and the City
of Austin to sign a letter stating that ENA is simply holding title to the
equipment for the benefit of the City of Austin.  Therefore, because of this
and the fact that the City has paid for its 91.4% ownership, only the 8.6% is
taxable.
If neither #1 or #2 are acceptable in you view, would it be acceptable for
ENA and Austin sign a side letter agreement to officially convey 91.4% of the
project to the City of Austin, but totally indemnify the City of Austin from
all liabilities.  After year-end, ENA would "take back" the conveyance and
the plant would continue in ENA's name until the plant is officially
conducted its final performance tests.

Please provide your thoughts on these ideas as soon as possible.  If these do
not work, we need some creative thinking on your behalf to minimize the
liability.  I look forward to hearing from you soon.

Regards,

Eric
x5-7754


Ladies and Gentlemen:

A copy of the NERC News 2001 Year in Review can be downloaded from the NERC web site:
http://www.nerc.com/~filez/nercnews.html

If you have any questions, let me know.

Sincerely,

Heather Gibbs


I know (Greg) but you gotta do what you gotta do.
About the "Moms" day thing - I am thinking more like maybe not - They each
have enough of the bath shit - and I dont really know what to do - What Ideas
do you have.  Neither of them are foo foo ish people.   I hope you and Ben
enjoy the Park today - that sounds wonderful


Davis: Sorry for the late payment. I read the same article, the market hates
us as much as our customers and competitors do. Brad


Rick:

Can you forward me the presentation that you mentioned when we talked on
Friday.  If OK with you, I'would love to crib from it for New York on Friday.

Best,
Jeff


fyi

 -----Original Message-----
From: 	Nelson, Roderick
Sent:	Monday, November 19, 2001 11:25 AM
To:	Heard, Marie; Shackleton, Sara
Subject:	FW: BNP Paribas Deals

[1] ECTRL and BNP Paribas - Physical Gas Trading:  The attached are confirms (for phone executed and EOL executed trades) which covers all physical gas trading in Europe. (Info provided by Pavi Sale in UK gas documentation, 44 207 783 2347, if you have further questions.)

Phone deal	EOL deal

[2] ECL and BNP Paribas - Credit Default Swap Trading:  Blair Van Zant (RAC-Credit) will fax the schedules of the ISDA which governs this trading. (Please call Blair direct at 44 207 783 6571 if you do not receive within the half-hour.)

[3] EML and BNP Paribas - Metals Trading:  Simon Hockenhull (RAC-Credit) is investigating.  Probably confirmed under GTC for financial metal trading.  May not have today.


Here are the DPL questions.  Don and I are going through these questions this
morning and talking with Ross  and Chris.  Thanks!
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 10/19/2000
09:14 AM ---------------------------

Dplflan@aol.com on 10/18/2000 06:18:51 PM
To: Benjamin.Rogers@enron.com
cc:
Subject: (no subject)

Ben-
This is a lengthy info/doc request - please give me feedback on how best we
can close the loop.

Thanks
Susan Flanagan

 - DocReq 001013b.doc


Final Update.....

I went to see Dorothy, Tim and the new baby on Sunday.  He is absolutely
beautiful and Dorothy and Tim couldn't be prouder parents.  His name
is.....Drake Andrew Dalton and that name suits him just fine!  Thanks.


I'd love to see us keep the capacity release upside above the discounted rate
on all these deals but if we can't get it, we can't get it.  Approved.  DF

Christine Stokes
01/26/2000 09:41 AM
To: Christine Stokes/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Mary
Darveaux/ET&S/Enron@ENRON, Bill Cordes/ET&S/Enron@ENRON
cc:

Subject: REVISED NMNG Contract Approval Request

TRANSWESTERN PIPELINE CONTRACT APPROVAL FORM

Various revisions have been requested for the five year New Mexico Natural
Gas (NMNG) contract.  Please review the revised discount letter which
includes the following revisions:

1) Clarification of Shipper's alternate rights at discount rate.

2) Deletion of paragraph granting NMNG the ability to change monthly MAXDTQ
quantities subject to a floor level.  (Tariff already provides this ability
subject to mutual agreement of Shipper and TW).

3) Addition of language which waives Shipper's ROFR rights.

4)  Addition of language which would allow TW to apply a possible additional
future surcharge if TW were to file for authorization to recover Y2K costs
through a new surcharge.

In this particular discount letter I did not include language which allows TW
the ability to retain capacity release revenues above the discount rate as
this issue was not a part of the original negotiations. However, this
language as well as the language overviewed above in 1), 3) and 4) will most
likely be adopted as "standard" discount letter language in the future.

Please indicate approval via REPLY WITH HISTORY.
All officer approval will be faxed to Bill Cordes for final Presidential
Level Approval


---------------------- Forwarded by Don Miller/HOU/ECT on 05/17/2000 09:58 AM
---------------------------
From: Stuart Zisman on 05/17/2000 09:19 AM
To: Don Miller/HOU/ECT@ECT
cc:
Subject:


Please see attached term sheet.  We are getting close with them on price, so
please provide any comments youy might have today if possible.   I am in
Houston and will swing by to see you all as soon as I get the chance.  Thanks

John

 -----Original Message-----
From:  John Llodra
Sent: Friday, May 18, 2001 8:13 PM
To: Bruce_McCracken
Cc: George Wood
Subject: Re: Wyman#4 slice

Bruce:

Sorry this is so late in the day.  This is a first cut to have something to
talk over on Monday.  I need to reserve the right to make changes based on
modifications desired by our legal dept and options desk.   Have a great
weekend and we'll see you on Monday.

Regards
John


John:  I just wanted to stay in the loop for Japan as to Gary Hickerson's
FX/rate/equity counterparties.  My understanding from Gary is that  EGM
(through ENA) will continue to hedge the business originating in Japan,
subject to tax and any regulatory input.  I don't know if this has
necessitated an agency arrangement  between Japan and Houston (or another
office, similar to London or Australia).  Also, for netting reasons, Japan
would not duplicate existing counterparty  ISDA's with ENA, and to the extent
Japan is transacting with a bank having an agreement with ENA, we could amend
the agreement for multibranch purposes if necessary (e.g., Bank of Montreal
if the bank is transacting from multiple locations that need to be added to
ENA's agreement).

Please advise if you have already had these discussions with Mark Taylor.  I
look forward to hearing from you.  Sara


Here's a recap for everyone.
Our original negotiation with Bear (for the Securities Loan Agreement) was in
the name of ENA, and, ENA had an existing account agreement with Bear.
However, Bear insisted that the account agreement was "too old" and that we
negotiate a new agreement.  I agreed on the condition that this not hold up
execution of the Securities Loan Agreement.  We have one or two final points
remaining on the new account agreement which we'll execute for both ENA and
Enron Credit Inc.. ("ECI").  We have the authorized trader list for ECI and
are waiting for Richard to designate the new officer/director slate but we
are prepared for execution by the existing officers in London.  The
assignment instrument will be very short for transferring the ECI book from
ENA to ECI.  It will take only a few days to replace the existing ENE
guaranty for the Securities Loan Agreement.

Jeff and Sheila:  Please verify that both ENA and ECI do not  need the
Securities Loan Agreement.  I believe it is just ECI and we can transfer the
existing agreement to ECI.

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

	Tom Doukas@ENRON
	03/21/2001 12:28 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Jeff Kinneman/Enron@EnronXGate, Sheila Glover/HOU/ECT@ECT, Richard
Sage/LON/ECT@ECT, David A Wall/Risk Mgmt/LON/ECT@ECT
		 Subject: BEAR Guarantee letter

Sara,

I just spoke with Russ Miron from Bear Sterans regarding our Guaranty to
Reduce funding to 20% per side.

I had asked him about when they will be executing the agreement.  He said
that his lawyers are ready to sign but are under the impression that you have
one remaining point to resolve and that this point is holding up the
finalization of the agreement.

Is there an issue from our side?  If not we should be able to get this
execution taken care of immediately?

Thanks,

Tom
713-853-9074


Will there be a "buyback" deal for Shell Oil Company for Aug. 2000.

 Deal #: 138086 expired July 31st.


Joe parks and I need 2 new desks set up in EOL so that the proper
accountability is made for the products as they trade.

Joe Parks new ID id ENA-IM Cent Gulf NGPL.

My ID is ENA - IM Central Gulf.

Please Expidite this as it is keeping us from trading our products online.


Matt doesn't have any trade like this for 1/8. I spoke with Judy at EES, and
she's going to have Jubran call Matt to duke it out over whether or not this
is a good trade. I'll let you know what those guys decide.

Thanks,
Kate

Stephanie Piwetz   01/11/2001 11:07 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Powerez Deal from 1/8/01

Mid Columbia.

   Kate Symes                01/11/2001 12:47 PM

To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject: Re: Powerez Deal from 1/8/01

What's the delivery point on those deals?

Stephanie Piwetz   01/11/2001 10:48 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Powerez Deal from 1/8/01

Kate,
Pwx called this mroning to verbal a deal that  was sleeved with EES.  I do
not see it in system, although I see the deal on EES spreadsheet that I
receive daily.
the deal is Enron Buys Pwx   Q4 2001 25mws   255.00  done direct  trade date
1/8/01  Matt Motley trader
then Enron Sell EES  Q4 2001  25mws   $255.05

Should this be in the system and if so do you have deal numbers on the
above.  I believe we sleeved the deal for EES and Pwx.
Contact at EES, Judy (backoffice 7138535490)  Jubran Whalen is EES trader.

Thanks


Maricela, attached is a draft of one of the Purchase Agreements in conection with the Raptor unwind. Similar agreements are envisioned for each of the other Raptor structures. The plan is to dissolve each Raptor entity [except for the entities involved in Raptor 3, namely Pronghorn I LLC and Porcupine, LLC] the day following the LJM buyout -- in other words, prior to the end of the quarter. [In the case of Raptor 3, since the note is monetized into Hawaii, this will need to remain in place until the take out of the note.] Please prepare the necessary documents for filing with the Secretary of State to dissolve the following entities:

Grizzly I LLC,
Timberwolf, LLC
Roadrunner I LLC
Bobcat, LLC
Harrier I LLC
Talon, LLC

-----Original Message-----
From: Spradling, Mark [mailto:MSpradling@velaw.com]
Sent: Friday, September 21, 2001 10:48 AM
To: Mckean, George; Ephross, Joel; Vasconcellos, Brent
Cc: Osterberg, Edward; McCulloch, Bruce C.
Subject: Revised Purchase Agreement

Attached are the clean and redlined versions of the Purchase Agreement.

Mark R. Spradling
Vinson & Elkins L.L.P.
2300 First City Tower
1001 Fannin
Houston, Texas  77002
713-758-2828
713-615-5545 (fax)

For more information about the full range of services offered by Vinson &
Elkins, including our latest publications on legal topics, please visit our
website at www.velaw.com.
++++++CONFIDENTIALITY NOTICE+++++
The information in this email may be confidential and/or privileged.  This
email is intended to be reviewed by only the individual or organization
named above.  If you are not the intended recipient or an authorized
representative of the intended recipient, you are hereby notified that any
review, dissemination or copying of this email and its attachments, if any,
or the information contained herein is prohibited.  If you have received
this email in error, please immediately notify the sender by return email
and delete this email from your system.  Thank You


Dear Vince,

I am so grateful for your efforts.  I really appreciate you taking time from
your busy schedule.  If you have not contacted Michael Maddox, it's even
better.  I have updated and re-worded my resume to better reflect my
accomplishments.  Would you please contact Michael Maddox of CERA and forward
my resume to him?  His contact information is (617) 497 6446 or email:
mmaddox@cera.com

Have you had a chance to talk to David Port?  Maybe there are other options.
I am flexible and willing to do whatever it takes.

Sincerely,

Bessik Matchavariani
Manager
Enron Broadband Services
Tel: 713.345.7230
Fax: 713.646.8861
bessik_matchavariani@enron.net


Per Lotus Notes, it looks like Susan Flynn sent them a draft on 5/23 and
hasn't heard from them.  The name of the person she sent it to was Adrian
Brabham.


I think we need to crystallize, in very short order, what the approval process will be for the sale of the Pad Gas in Storage Caverns #13/#14 to Bridgeline.  I will send you via fax the proposed deal sheet.

Several interesting points from the meeting:

1)  Bridgeline is of the view that 3/12/2002 (we thought it was 4/402) is the last day on which they are obligated to reimburse Enron for the Dow Lease - Any thoughts?  Who is right?;

2)  Their plan (assuming our deal goes through) is to amend and assume the existing lease - and get Dow to expressly release LRCI from any and all claims/liabilities/etc. following Bridgeline's assumption of the amended lease;

3)  Bridgeline indicated that Dow is of the opinion that approximately $167k is owed by Enron for dewatering brine removal fees ($0.20 per ton of salt removed) - I need your help to determine whether this is accurate;

4)  Bridgeline is desirous of having Cavern #1 (along with the various rights-of-way) conveyed sooner rather than later (and wondered whether we could expedite the approval process on this part of the deal).  I don't know what the advantages/disadvantages there are to this but would love your input along with your thoughts on whether this is feasible or not;

5)  We indicated that we thought the approval process would take approximately 30 days from the day that we reached what we believed were mutually agreeable terms with Bridgeline (does this sound right?) - The goal is to be done no later than March 1, 2002; and

6)  Eric Booth is going to call Robert Morgan to get the support for the $550k of expenses relating to the dewatering line and the flowline.

Stuart


Sheila,

There were some handwritten changes made by Greg Whalley on the draft..
I am sending you a copy  in a few minutes.

Vince

From: Sheila Walton/ENRON@enronXgate on 03/06/2001 06:05 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: Contract update

Vince, if there are some differences that we need to correct, you and I can
meet tomorrow when you bring the contract in. I am available anytime after
lunch.  Please call me at X30649.

Sheila

 -----Original Message-----
From:  Kaminski, Vince
Sent: Tuesday, March 06, 2001 3:10 PM
To: Sheila Walton/HOU/ECT@ENRON
Cc: Kaminski, Vince
Subject: Contract update

Sheila,

Some minor differences between the draft and the final executed version.
I have forgotten to bring the draft today, I shall send  a copy to you
tomorrow.
There were some hand-written changes made by Greg ijn the draft that were not
transferred to
the final version.

Vince


Mornin' Sunshine!!!
I need unit names for all of the following deals please:
593484
593486
594911
594915
595073
597061
597063
597065
598151
598153
And if you wouldn't mind strolling through the trade floor and smacking all
the new hourly guys around who keep entering their deal with "yes agreement"
instead of "not to be confirmed" -that'd be great too (might relieve a little
stress also!)
Thanks!
Kim


Carmella, would you distribute this memo to everyone on the agricultural
distribution list, and provide me with a listing of those to whom you have
distributed it?  -- thanks, Bob

Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com


Crawford Garage

Phone: (281) 363 2132
 (281) 363 0085


"Robb, Kathy" <KRobb@hunton.com> writes to the NYISO_TECH_EXCHANGE Discussion List:

A reminder that all papers or materials for presentations at the September
24th ICAP Working Group meeting must be circulated no later than Thursday
morning, September 20. If you have not done so, please let me know if you
are planning on speaking. Many thanks.

-----Original Message-----
From: Robb, Kathy [mailto:KRobb@hunton.com]
Sent: Friday, September 07, 2001 2:37 PM
To: 'nyiso_tech_exchange@global2000.net'
Subject: Sept. 24 ICAPWG Mtg

"Robb, Kathy" <KRobb@hunton.com> writes to the NYISO_TECH_EXCHANGE
Discussion List:

The next ICAP Working Group meeting will be held on Monday, September 24 ,
beginning at 10 am at the NYS Nurses Association, 11 Cornell Road, Latham,
NY. The agenda is to hear presentations about, and discuss, ICAP theological
issues (originally scheduled for the Sept. 11 meeting that was cancelled.)

Presentations at the meeting will be limited to 20 minutes. All those
interested in presenting should circulate materials to the tech exchange no
later than the morning of Thursday, September 20. Please let me know if you
are planning on presenting an issue as soon as possible so we can structure
the order of presentations.

If you have any questions, please contact Howard Fromer, chair of the ICAP
Working Group, John Charlton at the NYISO, or me.

Kathy Robb
krobb@hunton.com
212.309.1128


Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 05/07/2001 02:25 PM -----

	"Woertz, Byron" <BWoertz@caiso.com>
	05/07/2001 01:10 PM

		 To: ISO Market Participants
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI
CIPANTS@caiso.com>
		 cc:
		 Subject: CAISO Notice - Corrected Final Settlement for January

  ISO Market Participants:
  Attached is a corrected Final Settlement for January, 2001.
   <<Market Summary Jan 2001.doc>>
  Byron B. Woertz, Jr.
  Director, Client Relations
  (916) 608-7066
  (800) 481-7037 - Pager

 - Market Summary Jan 2001.doc


Though there is a high degree of uncertainty regarding whether and when Davis will call back the California legislature to address the Edison MOU, here's the latest information we have.
Faced with horrible polling, an unwilling legislature, an uncooperative California PUC, and a wily leader of the state Senate (Burton), Davis is now considering delaying any action to call back the legislature.
Rumors of a delay come despite Davis' statements that he would call them back next week.
We received the information about a likely delay from an Edison SVP who's working with administration staff to come up with a deal that the legislature can finally swallow.
It's Edison's view that the earliest Davis would now call the legislature back is end of next week, with early the following week being most likely.
At this point, the chance remains that Davis may be forced to throw up his hands and call the whole thing off, leaving Edison to follow PG&E into chapter 11.
In the meantime, negotiations between Davis' staff, and staff from the Senate and Assembly continue.

We'll report back with information as we get it.

Best,
Jeff


Please red the paragragh in red below from an e-mail I sent last month....

I need risk to confirm that all counterparties that have master agreements
with ECC (now 41 counterparties) need to be booked with 2 legs as described
below in red.

We need this confirmation from risk as soon as possible.  We are pushing IT
to get this logic in place and don't want anything to "blow up" for risk.
Please respond by e-mail.

Thank you for your cooperation.

Dawn
3-9353
---------------------- Forwarded by Dawn C Kenne/HOU/ECT on 01/16/2001 05:20
PM ---------------------------

Dawn C Kenne
12/12/2000 10:00 AM
To: Jeffrey C Gossett/HOU/ECT@ECT, Michael Swaim/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT
cc: Jennifer deBoisblanc Denny/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT

Subject: Counterparties w/ Master Agreements with ECC

I have received an updated list of the counterparties that have Master
Agreements with ECC.  There are now about 40 counterparties that fall under
this category.  What seems to be happening is that these counterparties are
hitting on US gas products on EOL and are not bridging into Tagg correctly.
Currently, they are bridging as one leg between ENA and the counterparty.
The problem arises during settlement because ENA cannot settle with these
counterparties, only ECC can.  An example of what Risk is doing to the
products after bridging is Tagg#Q79131 / EOL #555401.

RISK:  We need risk to verify that anytime, without exception, all companies
with Master Agreements with ECC that hit a US product must be booked as two
legs:  leg one booked between ECC and the counterparty with risk assignment
of FT-US/CAND-ERMS; leg two flipping the risk out of FT-US/CAND-ERMS to the
appropriate risk book.  Also, risk needs to verify that this is only for
Financial Swaps and not Physical deals.

IT:  It is my understanding that a few counterparties are set up to be booked
correctly (with two legs).  The list is now up to 40 counterparties and will
most likely be updated on a consistent basis.  Is this something that Tagg
Maintenance can handle?  Guidelines need to be set up for Risk/Global to
instruct IT when new Master Agreements are created with counterparties so
logic can be adjusted accordingly.

Does a meeting need to be set up to elaborate on these issues?  Are there any
further issues that need to be addressed concerning ECC Master Agreements?
Please respond with your thoughts on this subject.

Thank you,
Dawn
3-9353


---------------------- Forwarded by John Arnold/HOU/ECT on 04/04/2001 11:33
AM ---------------------------

"Zerilli, Frank" <fzerilli@POWERMERCHANTS.COM> on 04/04/2001 11:09:21 AM
To: "'jarnold@enron.com'" <jarnold@enron.com>
cc:
Subject: Transcanada Trade...

Just to confirm this trade:

Enron buys futures and sells LD swaps in the following months.  EFP
posting price is NYMEX settlement price on 4/30/01.

Jul '01-176 lots
Aug'01-157 lots
Sep'01-443 lots
Nov'01-132 lots
Jan'02-233 lots
Feb'02-283 lots
Mar'02-607 lots

Counter Party is Transcanada and they are posting with Man South.

Thanks again..


Murli,

Great to hear from you.  I'm glad you accepted the offer - I'm sure you'll
enjoy you're experience at Enron.  Good luck during your final semester.

Kevin


FYI -- Attached is the final consolidated version of the "Bare Essentials" handouts from FERC RTO Week.  Bare Essentials are the leave-behinds EPSA designed to follow the workshop agenda for the week.

Samantha

Samantha M. Slater
Manager of State & Regional Affairs
Electric Power Supply Association
1401 New York Avenue, N.W.
11th Floor
Washington, D.C.  20005
Phone: 202-628-8200
Fax: 202-628-8260
E-mail: sslater@epsa.org

 - bare essentials.doc


fyi.

Did you get word that the Delta deal is going into escrow tomorrow, closing
on May 2nd?

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/25/2001 01:36
PM ---------------------------

	From:  Ben F Jacoby @ ECT                           04/25/2001 11:26 AM

Sent by: Ben Jacoby@ECT
To: michael.young@northwestern.com
cc: Kay Mann/Corp/Enron@Enron, Chris Booth/NA/Enron@Enron

Subject: Change Order 1 & 2

Mike:

Attached are executed change orders. There was a very minor change to CO2 in
2.7 and a formatting change. I don't think you'll have an issue. Please
review and indicate your authorization for us to sign via return e-mail as
soon as possible. Thanks.

Ben

 - 26842m.tif

 - 26852m.tif


----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/05/2001 06:01 PM

		 To: <skean@enron.com>, <mpalmer@enron.com>, <rshapiro@enron.com>
		 cc:
		 Subject: FW: energy humor

Apparently I forgot to attach the material referred to in this morning's
email. ?My dumb mistake -- daniel----------From: Daniel Casse
<dcasse@whwg.com>Date: Fri, 05 Jan 2001 08:19:00 -0600To: <skean@enron.com>
Cc: <rshapiro@enron.com>, <mpalmer@enron.com>Subject: energy humorSteve --
here is a first crack at some humor based on this week's news from
California.At the end is an idea for a cartoon. ?I thought I should run it by
you before we get our cartoonist working on it.I'm in New York today and
probably will check my email late in the day. ?But I will be checking my
voicemail regularly.Daniel-- Daniel CasseWhite House Writers
Group615-297-5999615-297-5908 (fax)
 - EnergyHumorJan5.DOC
----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/10/2001 01:27 AM

		 To: <skean@enron.com>, <rshapiro@enron.com>, <mpalmer@enron.com>
		 cc:
		 Subject: jan 9 enron humor

Steve --

here is another installment on the continuing California story.  There is
another cartoon idea here.  I am ready to get our cartoonist rolling, but
let me know if you like this or the previous idea.

--
Daniel Casse
White House Writers Group
615-297-5999
615-297-5908 (fax)

 - Jan9humor.DOC
----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/12/2001 11:26 AM

		 To: <skean@enron.com>
		 cc:
		 Subject: FW: Energy crisis material

here are a few more items

--
Daniel Casse
White House Writers Group
615-297-5999
615-297-5908 (fax)

 - Jan12humor.DOC
----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/16/2001 03:27 PM

		 To: <skean@enron.com>, <rshapiro@enron.com>, <mpalmer@enron.com>
		 cc:
		 Subject: Jan 16 humor

Attached is some more humor based on California events

--
Daniel Casse
White House Writers Group
615-297-5999
615-297-5908 (fax)

 - January16humor.DOC
----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/23/2001 01:56 PM

		 To: <skean@enron.com>, <mpalmer@enron.com>, <rshapiro@enron.com>
		 cc:
		 Subject: California Humor

Observations on the California Electricity Crisis
White House Writers Group
January 23, 2001

Will the last business to leave California please turn out the lights.
Oh wait, they?re already out.

California Governor Gray Davis may ultimately prove responsible for the
dimming of more lights than Frank Sinatra music.

California has done for energy deregulation what Florida has done for
elections.

California Governor Gray Davis says he?ll appoint a "power plant czar" to
help solve the state?s energy crisis.  There must be a sign on his desk
saying, "The buck stops here?just long enough for me to pass it to someone
else."

During the current energy crisis in California, the spotlight shines on
Governor Gray Davis?so long as it?s not knocked out by rolling blackouts,
that is.

Gray Davis was shocked when told about the "doomsday scenario."  Not the one
from Pacific Gas & Electric which envisions California power blackouts
lasting 12 hours a day, the one from his aides saying he might lose the
governor?s race in 2002.

California politicians have learned what thieves have known for a longtime.
It?s easier to pick someone?s pocket in the dark.

California is talking conservation.  One good conservation measure would be
for Governor Gray Davis to save his breath trying to convince people that
government control is the answer to the energy crisis.

Possible Jingle Themes for Gray Davis Re-election Bid:

My Hopes Were High 'til the Lights Went Low

Brother, Can You Spare a Megawatt?

There's Dark at the End of the Tunnel

Return Me to Power (Even if You Don't Have Any)

Top 10 Reasons to Not Have California Government Electricity

10:  Would create yet another oxymoron.

9:  Electricity might go to wrong address the way mail does.

8:  Promise of efficient electricity gives politicians one more thing to lie
about.

7:  Power keeps going off when Rush Limbaugh comes on air.

6:  Light bulbs would match politicians for dimness.

5:  Special tax on flashlights.

4:  Fifteen day waiting period to use microwave.

3:  Rolling blackouts joined by rolling the taxpayers.

2:  Consumer manual on government-mandated way to change a light bulb runs
25,000 pages.

1:  Nine words: From the same people who gave you the DMV.

----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/31/2001 09:39 AM

		 To: <skean@enron.com>, <mpalmer@enron.com>, <rshapiro@enron.com>
		 cc:
		 Subject: California Energy Crisi Humor

Observations on the California Energy Crisis
The White House Writers Group
January 31st

Gray Davis has announced that he will soon announce two energy czars to lead
the state through the current crisis.  Logical candidates include: Laurel and
Hardy, Abbott and Costello, Beavis and Butthead, and Siegfried and Roy.

The environmentalist Green Party is well-named.  Thanks to its role in
blocking construction of new power plants, Californians are forking over
plenty of green for energy.

California?s power industry is very Kennedyesque.  Their message to consumers
is, "Ask not what your energy company can do for you; ask what you can do for
your energy company."

Congress might get involved in California?s energy crisis.  There?s nothing a
drowning victim needs more than having an anchor thrown to him.

It?s one thing for California politicians trying to solve the energy problem
to go back to the drawing board, but do they have to ask taxpayers to buy
them a new one?

In California, lawmakers are now getting down to details.  The latest debate
involves what to name the bonds the state will issue to help bail out the
utilities.  Proposals on the table include:  Blackout Bonds;Bailout Bonds;
Davis Debts; Blunder Bonds; Fiasco Funds.

###

----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/31/2001 09:45 AM

		 To: <skean@enron.com>, <mpalmer@enron.com>, <rshapiro@enron.com>
		 cc:
		 Subject: carton

Here is a cartoon you might like to pass on

 - lightswitch.pdf
----- Forwarded by Steven J Kean/NA/Enron on 03/16/2001 01:31 PM -----

	Daniel Casse <dcasse@whwg.com>
	01/31/2001 09:47 AM

		 To: <skean@enron.com>, <mpalmer@enron.com>, <rshapiro@enron.com>
		 cc:
		 Subject: two cartoons

either of these cartoons might work well with the news about the energy
czars.

--
Daniel Casse
White House Writers Group
615-297-5999
615-297-5908 (fax)

 - powercorrupts.pdf
 - PleaseSir.pdf


http://www.socalgas.com/cgi-bin/tariffbook?T54+1

Jim Hemmerly
Natural Gas Trader
Southern California Gas Company
Telephone Number (213) 244-3864
jhemmerly@socalgas.com


If Debbie is talking about the language she and I discussed late last week,
that is new credit language that has not yet gone in to any of the GTC's.

Stacy E Dickson
09/28/99 09:14 AM
To: Debbie R Brackett/HOU/ECT@ECT
cc: Mark - ECT Legal Taylor/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT
Subject: Re: EOL GTC's

Debbie,

I am not sure which language you are referring to.  Some of the GTC's have
language providing for the posting of a letter of credit by the counterparty
when the Enron entity makes a request to do so.  Mark Taylor drafted this
language.  I assume that it is the same as the financial language.  Please
let me know this e-mail does not answer your question.

Stacy


Hi Jeff-

I hope you had a good weekend in New York and a good trip back to Texas.  Thank you very much for dinner the other night. It was very nice to have met you.

-Jennie


philly,

what's the story?

escotty


Vince,
It was a pleasure to meet you last week at our Rodeo night.  I am glad you
could join us.

I am going to fax you the invitation to the Houston Symphony Partners party
that we discussed.  I hope you can attend.

Keep in touch and let's get together for lunch and/or seeing "American
Beauty."

Jana Phillips
713-658-9296


Hi Terry -

Ken Lay said that he would really like an update and more detail about the
"Digital Divide" and TFA.  He is attending the Fortune Battle Royal and said
this fits right in with the subject.  He will be leaving for Washington
tomorrow night.

Thanks.

Rosalee

Terry_Pierce@enron.net on 03/30/2000 09:59:59 AM
To: klay@enron.com
cc:
Subject: Conversation w/President & Mrs. Bush

Terry Pierce
Enron Broadband Services
Corporate Marketing
Sr. Manager/Special Projects
(713)345-8383 Office
(713) 503-0700 Cell

----- Forwarded by Terry Pierce/Enron Communications on 03/30/00 10:01 AM
-----
|--------+----------------------->
|        |          Terry Pierce |
|        |                       |
|        |          03/30/00     |
|        |          09:40 AM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|

|                                                                            |
  |       To:     KEN LAY
 |
  |
cc:                                                                  |
  |       Subject:     Conversation w/President & Mrs.
Bush                    |

>----------------------------------------------------------------------------|

Dear Ken:

Night before last I visited with President and Mrs. Bush and suggested that he
give you a call regarding TFA (Technology For All)! I told him that it might
prove valuable for his son's campaign!  When we spoke with Cynthia Sandherr in
Washington a week or so ago, she said that the "Digital Divide" was the
hottest
topic on Capital Hill.  She had some wonderful ideas on how to spin this so
that
businesses create the bridge for the divide and not government!  Although we
want to stay nonpartisan with TFA, this would be a wonderful press opportunity
and platform in Washington!

Just thought I should give you "heads-up" in case he asks and please tell
Linda
I said hello!

Thank you for doing so much for the cause!

Terry Pierce
Enron Broadband Services
Corporate Marketing
Sr. Manager/Special Projects
(713)345-8383 Office
(713) 503-0700 Cell


I made reservations on December 7th for 6 people at 8:45 and they have my
credit card.  Thought we might as well do that now considering I have been
thinking about birthdays today.  Aren?t you???????

Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)


This deal discrepancy seems to have a few of us stumped - so I'm referring it
to all of you in hopes that we can solve this today. Following are the terms
of the deal:

Short Term California buys Enron Energy Services
Hours: HE 6-9
Delivery Point: SP-15
Term: 3/29/01
Price: $110

The deal was entered by Bert Meyers, a Real Time trader, on behalf of STCA.
It was extended for HE 9 through 22 at a price of $160. In the spreadsheet
Real Time sends to EES each day, it shows the deal as a sale at a price of
$130, not a buy at a price of $160.  My first instinct was to simply modify
the spreadsheet to match the deal in Enpower, but EES claims they see the
price coming across as $130. I'm reluctant to send any more incorrect
information to EES, as we've already dealt with enough confusion over this
matter. Please take a look at the deal and its corresponding documents, and
let me know which is the correct price.

Thanks for your help,
Kate


sorry - sent that last one by mistake
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
07/28/99 09:15 AM ---------------------------

	Declined
Declined by: Paige B Grumulaitis
Chairperson: Mark - ECT Legal Taylor
Sent by: Donna Jones

Start: 08/04/99 10:30 AM
End: 08/04/99 11:30 AM

Description: FASB133 One Way vs. Two Way Payments- EB3325

This meeting repeats   starting on    (if the date occurs on a weekend the
meeting ).
Meeting Dates:

Detailed description:
   Paige B Grumulaitis/HOU/ECT declined your invitation.

On   08/04/99 10:30:00 AM CDT
For   1 hour
With:   Mark - ECT Legal Taylor/HOU/ECT (Chairperson)
  Mark E Haedicke/HOU/ECT (Invited)
  Paige B Grumulaitis/HOU/ECT (Declined)
  Alan B Aronowitz/HOU/ECT (Invited)

FASB133 One Way vs. Two Way Payments- EB3325


IF YOU ARE PLANNING ON EATING BREAKFAST AND LUNCH TOMORROW PLEASE COME SEE ME WITH CASH!!!!

THANKS

T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


Enron needs a day (maybe less) of your time, hopefully this week.

We have to submit our proposed exhibits on July 3, 2001.  I am leaving for
Peru on Sunday 6/17, not returning until 7/6 (after the list is due, unless
the final status conference changes).

I have gone through my high priority documents and listed potential exhibits. I would like you to come out to our offices and go thru (1) the accordions of
key docs that you put together earlier this year and (2) all of the deposition
exhibits, to see what should be added to my list.

I am not trying to pack our list.  In fact I would like NOT to list (a) any
document that we are sure one or more of the other parties will submit (e.g.,
I haven't put any of the offering memos or road show slides on the list) or
(b) any document that contains anything negative for us, unless there is also
something very positive in the document that we really need (e.g., I haven't
listed Brian's memo re topics for Management Company discussion or any of the
work by the Enron auditors in August-September 1998.)

The reason that I would like you to do this work this week is so that I can
discuss any questions you come up with before I leave.  I will be in traveling
and in NY on Tues-Thurs, but you can come here on any of those days; I'll be
back in the office on Friday (6/15); we could talk out any questions then.

Let me know what you can do.
                                                                                ................................................

ALSCHULER GROSSMAN STEIN & KAHAN LLP
ATTORNEYS AT LAW
www.agsk.com

2049 Century Park East
Thirty-Ninth Floor
Los Angeles, CA 90067-3213
Tel 310-277-1226
Fax 310-552-6077

This transmission is intended only for the use
of the addressee and may contain information
that is privileged, confidential and exempt from
disclosure under applicable law. If you are not
the intended recipient, or the employee or agent
responsible for delivering the message to the
intended recipient, you are hereby notified that
any dissemination, distribution or copying of
this communication is strictly prohibited.

If you have received this communication
in error, please notify us immediately
via e-mail at postmaster@agsk.com or
by telephone at 310-277-1226. Thank you.

...............................................


Can you find out the answer to Jeff's question?  MLC

---------------------- Forwarded by Marianne Castano/HOU/EES on 09/28/2000
02:26 PM ---------------------------
From: Jeff Dasovich@ENRON on 09/28/2000 12:52 PM
To: Marianne Castano/HOU/EES@EES
cc:
Subject: Re: SDG&E Credits

Can't wait for the bullets to start to fly.  Do we know what the total $
amount is to EES (if they were to book the entire credit to Enron)?  Thanks.

	Marianne Castano@EES
	09/28/2000 12:39 PM

		 To: Dennis Benevides/HOU/EES@EES
		 cc: Jeff Dasovich/NA/Enron@Enron, Karen A Cordova/HOU/EES@EES, Diann
Huddleson/HOU/EES@EES
		 Subject: Re: SDG&E Credits

Dennis:  Just wanted to bring this item to your attention.  We've researched
the terms of our residential agreements and have noted that they are silent
as to the issue of credits/refunds.  I've asked Jeff and Mike Day, our
regulatory counsel in CA, for their input on whether we should refund these
credits back to our residential customers.

 Notwithstanding  the fact that the language of the original decision
allowing the credits does not address direct access customers, Jeff and Mike
recommend, given the current climate in California, that we take action to
refund these credits to our residential customers.

 Just want to make sure you're "on board" with this before we direct CSC to
refund the credit back to our residential accounts...Marianne

.

	Enron Energy Services

	From:  Karen A Cordova                           09/21/2000 05:00 PM
	Phone No: 713.853.3150
  713.646.8860 - FAX No.

To: Marianne Castano/HOU/EES@EES
cc:
Subject: SDG&E Credits

Diane Huddelston called Lori Pinder about an issue;  Here it is:

Due to the merger btw SDG&G & Sempra Energy (about a year or less ago), a
savings was realized.  The CPUC said these savings must be passed on to
customers 1 time per year, in September.  They are called Annual Merger
Credits.

Pursuant to all commercial contracts, Enron is entitled to keep the savings
(per Diane).  What about the residential customer accounts?

Enron keeps the savings or should the residential customer receive?

Who could handle this issue for Diane?

Thanks, KC


opps, sorry.  I looked through the list too fast.  Thanks, Kim.

 -----Original Message-----
From: 	Bodnar, Michael
Sent:	Monday, February 04, 2002 10:29 AM
To:	Watson, Kimberly
Subject:	RE: TW PNR BILLING DETAIL

Jan is on the list.....

 -----Original Message-----
From: 	Watson, Kimberly
Sent:	Monday, February 04, 2002 7:57 AM
To:	Bodnar, Michael
Subject:	RE: TW PNR BILLING DETAIL

Bod,

Please add Jan Moore to your distribution list.

Thanks, Kim.

 -----Original Message-----
From: 	Bodnar, Michael
Sent:	Friday, February 01, 2002 11:20 AM
To:	Blair, Lynn; Donoho, Lindy; Giambrone, Laura; Hanagriff, Richard; Harris, Steven; Hernandez, Bert; Kowalke, Terry; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McConnell, Mark; McEvoy, Christine; Miller, Beverly; Minter, Tracy; Moore, Jan; Mulligan, Amy; Schoolcraft, Darrell; Ward, Linda; Watson, Kimberly; Y'barbo, Paul
Subject:	TW PNR BILLING DETAIL

Attached is an Excel workbook detailing TW PNR activity/billing for the month of January, 2002. A summary is provided below:

Buyer	PO#	POI		 Dth 	Rate 	Daily/Total	 Invoice Amount
PNM	27267	500617	 	49,000 	 $0.0800 Total	 	 $3,920.00
USGT	27268	500622	 	14,871 	 $0.0400 Daily	 	   $607.96
USGT	27268	500622		    328 	 $0.0500 Total		     $16.40
USGT	27268	500622	 	21,563 	 $0.0500 Daily		$1,078.15
Calpine	27507	78151		10,000 	 $0.3883 Daily	 	$7,766.00
VirgPwr	27719	500623	 	* 4,793	 $0.0800 Daily	 	$9,137.52

TOTALS			100,555 			$22,526.03

* BOM Balance withdrawn in January

If you have any questions, please call me.

 << File: TW Jan02pnr.xls >>


I know I have been absent from the 2 regularly scheduled meetings on Friday am for the last 2 weeks and it is not going to get a lot better for the next 2 weeks either.   For this I apologize, but I am trying to understand the new expanded world to determine any potential points of integration, if any.    I am going to have Kathy see if there is a time earlier in the week that we might be able to use for direct reports and administrative matters and a separate time for Commercial support reviews.  Please keep the reports flowing  as this is currently my means of keeping up.     I would like for staff meetings to continue, even in my absence for the next 2 weeks.

I am working on some organizational changes, which I am not quite ready to discuss, but they should not impact the majority of you at all.     I will not be replacing me in my old position in ETS, but will be expanding the crew to include the worlds of EGAS, Wind, Azurix, EEOS, Portland (they will be here for most of the next year) etc.     In the meantime if you need to talk to me please have Kathy get you in to my schedule in person or via phone.    I am also in the office nearly everyday, other than tuesday (EOTT staff meetings), by 6:30 am.

Rod Hayslett
EB4054
713-853-6178


Please format and print the attachment.  Thank you.


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 07/27/2000
03:35 PM ---------------------------

"Chad W. Cass" <CWCASS@duke-energy.com> on 07/27/2000 03:19:33 PM
To: briley@enron.com, "Bruce McMills" <bmcmills@duke-energy.com>,
carlos.j.rodriguez@enron.com, "Chad W. Cass" <CWCASS@duke-energy.com>,
dfarmer@enron.com, "John A. Bretz" <JABRETZ@duke-energy.com>, "Julia A.
Urbanek" <JAURBANEK@duke-energy.com>, stacey.neuweiler@enron.com, "Sharon
Beemer" <sbeemer@duke-energy.com>, "William E. Speckels"
<WESPECKELS@duke-energy.com>, "Connie Wester" <cwester@duke-energy.com>,
"Michael R. Cherry" <mrcherry@duke-energy.com>, "Darrel F. Bane"
<dfbane@duke-energy.com>, "Randall L. Reid" <rlreid@duke-energy.com>,
"Raymond Franklin" <rfranklin@duke-energy.com>
cc:
Subject: HPL Nom for July 28,2000 -- One day Only !

Check that........please flow at a rate of 30,000 for  6.2  hours to reach the
7800 mmbtu

Thanks,
Chad Cass

----- Forwarded by Chad W. Cass/GCS/CEC/PEC on 07/27/00 03:18 PM -----
|--------+----------------------->
|        |          Chad W. Cass |
|        |                       |
|        |          07/27/00     |
|        |          03:16 PM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|

|                                                                            |
  |       To:     briley@enron.com, Bruce
McMills/FtWorth/PEFS/PEC@PEC,        |
  |       carlos.j.rodriguez@enron.com, Chad W.
Cass/GCS/CEC/PEC@PEC,          |
  |       dfarmer@enron.com, John A. Bretz/GCS/CEC/PEC@PEC, Julia
A.           |
  |       Urbanek/GCS/CEC/PEC@PEC, stacey.neuweiler@enron.com,
Sharon          |
  |       Beemer/FtWorth/PEFS/PEC@PEC, William E.
Speckels/GCS/CEC/PEC@PEC,    |
  |       Connie Wester/EastTexas/PEFS/PEC@PEC, Michael
R.                     |
  |       Cherry/EastTexas/PEFS/PEC@PEC, Darrel F.
Bane/EastTexas/PEFS/PEC@PEC,|
  |       Randall L. Reid/EastTexas/PEFS/PEC@PEC,
Raymond                      |
  |
Franklin/EastTexas/PEFS/PEC@PEC                                      |
  |       cc:
 |
  |       Subject:     HPL Nom for July 28,2000 -- One day Only
!              |

>----------------------------------------------------------------------------|

EFFECTIVE July 28 @ 9:00 am

7,800 Inlet @ HPL / Eastrans Interconnect  (Flow rate of 20,000 for 9.4 hours)
7,800 Redelivered at FCV

We will be testing the compressor station tomorrow morning.  Please be advised
if the
compressor cannot flow at a sustained volume it will be shut down and the
remainder
of the gas delivered at Busby will be considered an "incremental sale."  If
you
have
any questions please call me at (713) 627-6202.

Thanks,
Chad Cass


The report named: West VaR <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=36&report_name=West+VaR&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/14/2001>, published as of 11/14/2001 is now available for viewing on the website.


Here are the FT Positions including the Exotics.

Robin


Executive Summary
? Davis struggles to find Senate support for SoCal transmission deal
? Only chance of deal going through is a one-time quick vote; if deal has to
go to hearings - it will probably die
? If not transmission deal, legislators will seize assets and seek price caps
? Asset seizure would target power contracts, then power plants; as a result
the endless court battles will ensue, but this gives Davis opportunity to
continue to blame generators and marketers
? Bankruptcy for SoCal is still the most likely scenario, with the QFs or
SoCal itself likely to file if the transmission deal dies or gets amended
? Congressional democrats rally around Davis and seize opportunity to blame
the Administration

Transmission Deal and Democratic Support
As Governor Gray Davis scrambles to build support for his SoCal Ed.
transmission proposal, one thing is evident; the longer the deal is exposed
to public debate, the less likely it is to pass.  In fact, politicians have
been so leery of the deal that Davis has been unable to locate even one
sponsor to introduce the bill in the Senate.  In the eyes of many Democratic
legislators (and all Republicans) forcing SoCal Edison into bankruptcy is
looking like a better option than buying the transmission lines; that is why
the Governor's senior strategists have quietly been trying to schedule a
quick "up or down" vote on the transmission line purchase as early as next
week.  The bill is currently not scheduled to be voted on in effort to avoid
debate, however, if there is an opening within the next two weeks and Davis
feels he has enough support, it will be pushed through.  Because the SoCal
deal needs every piece in place as "negotiated" by Davis' team, the team
wants no amendments allowed on the Assembly floor and a quick vote.  If this
unlikely fast track strategy fails for Davis, the prospects for the
transmission lines purchase will deteriorate steadily (keep in mind that that
it cannot even be resubmitted to the Assembly until it has been vetted by
SoCal Edison attorneys).  According to sources, the legislature is going to
try to modify the Memorandum of Understanding between Gov. Davis and SCE.
However, the Senate leadership does not believe there will be sufficient
support to pass even a modified MOU. Burton reportedly believes that at least
6 Democrats will vote against it along with the Republicans.  The more that
bill gets picked apart in public, the uglier it looks and the more Democrats
will realize that they are all alone in supporting it.

Another problem faced by the legislatures is the deal is in favor of SoCal
and not the state.  Among other things, the state is overpaying by about $1.5
billion for the transmission lines.  Additionally, the MOU Davis has with
SoCal. Ed nearly matches, point for point, the deal Davis condemned with PG&E.

Asset Seizures
Since before the PG&E bankruptcy filing, we have maintained that asset
seizures through eminent domain would become a major pursuit for increasingly
frustrated Democrats.  Davis' legal office has thoroughly scrubbed the law on
eminent domain seizures of everything from power generating assets across
California to existing power contracts negotiated by, whom Davis's calls,
"profiteering power brokers".  Of course, everyone in the Governor's office
understands that any seizing would immediately end up in state and federal
courts, and would be a legal nightmare (there are a few minor Constitutional,
legal and interstate commerce problems). The main thing is that the seizing
would continue Davis's main approach to this problem -- management by press
conference -- and it would put the Governor and Democrats on the right side
of the issue -- punishing the capitalist leeches.  According to one senior
Democratic legislator, there is movement within Democratic members of the
state Assembly to demand that Davis agree to seize the power contracts in
return for their vote in favor of the power transmission purchase. Of course,
taking the contracts would only be setting a precedent for taking the power
plants.  The appeal of seizing the contracts is that it would allegedly put
California state officials in charge of where the power is sold and reduce
mark-ups substantially as they used the contract power authority to provide
spot-market power purchases before peak emergency conditions drive the price
through the roof.

Price Caps
One strong indication as to whether or not summer price caps will occur
depends powerfully on decisions made by the three Republican Governors from
Colorado, Alaska and Wyoming. These three were the key players during the
Portland Western Governor's Conference last January and, according to senior
White House officials, it took the personal and prolonged intervention of
President Bush himself to peel these three away from an otherwise unanimous
call for price caps from the governors. "If they had signed that price cap
appeal," the administration source said, "we would already have price caps.
So if they start to make it clear something has changed, we will have to
listen."  Sources indicate that if these Republican leaders begin to rethink
their opposition to price caps, the Bush administration will be forced to
reconsider price caps as a remedy for the West.

Cost Plus Caps -- Think of these as Republican price caps in that their first
duty is to make sure private companies make money and have incentives to
provide power into the affected grid. Just to give some idea of magnitudes in
a cost plus deal, current discussions would put a cap on power costs at
something like $250 per kilowatt hour. That is a long way down from the
August futures contract that is pricing in $750 per kilowatt hour, but a long
way above last August's $150/kwhr price and a particularly long way above the
cost of generating this power, which is something like $25-30/kwh.

Market-Price Exceptions -- The option allows the Bush administration to have
political credit for imposing price caps. As we write, FERC is currently ,in
the process of considering permit renewals for five companies generating
power in California (Duke, Dynegy, AES, Reliant and Williams).  The permit
grants a further three-year waiver that allows them to sell power into
California in the existing "whatever price the market will bear".  In other
words, FERC could simply not grant these companies the right to sell energy
at the market price, perhaps by changing a definition of controlling market
share, and then power to control prices would revert back to FERC.

Technically, in granting the extension of these permits, FERC has to
establish a formal finding that the five power companies do not wield "market
power" -- that means they cannot affect the price of energy by withholding
power at crucial times. Of course, FERC has just found on three different
rulings in the last four months that the companies wield exactly that kind of
ability over market prices and has ordered minor rebates to adjust for the
subsequent price spikes. But that would mean FERC would have to want to wield
effective power over price capping in California and they have shown no
desire on that front. The escape clause for FERC simply to renew the waivers
is that they are routinely renewed unless the company applying for waivers
controls more than 20% of an electricity market and none of these companies
come close.

In other words, the waivers option lets FERC escape if the Bush
administration and FERC commissioners really want to escape. Once again, that
decision may be more in the hands of the three Republican Governors than
anywhere else in the country. But you can be certain that in the past few
days Administration officials have become fully aware of the potential
political liabilities of doing nothing except advocating more nuclear and
coal power plants.

Democrats Seize Opportunity to blame Bush
Senior political leaders now think the total energy bill for the year could
come in as high as $60 billion, which would destroy state finances for a
decade.  Add to that the constant drumbeat of numbers that voters hear
everyday about their own direct out-of-pocket electricity costs (they paid $7
billion for electricity in 1999, $27 billion in 2000 and are expected to pay
$70 billion this year -- ten times the rate two years ago. Then, of course,
they open bills with massive rate increases that bring all those incredible
numbers home in a very direct way, and, well, who can blame the Democrats for
saying there is a simple solution, but the White House won't allow it.

National level Democrats realize California,s power crisis is a prime
opportunity to chastise the Bush administration and its free-market advocate,
FERC Chairman Hebert, over their resistance to summer price caps.  As
California,s leaders calculate this year's taxpayer energy bill at
potentially $60 billion, a rogue's gallery of Democratic congressional
leaders are currently meeting with Governor Davis and coordinating efforts to
fan out across the eight western states of the power grid with a singular
message: "the solution to all western voters electricity problems lies right
in Washington DC, at FERC headquarters controlled by Bush Administration
appointees."  And as the political dialogue takes on a more aggressive
national tone and its possible impact on control over the US Congress comes
more into focus, the solutions articulated by California's Democrats who
sense they have Republicans on the run in the West become less and less "free
market" focused.  The two strains of the Democratic solution that are
becoming an unavoidable part of the energy picture are asset seizures and
price caps.


---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 09/25/2000
02:00 PM ---------------------------

Jonathan Hoff
09/25/2000 01:27 PM
To: Benjamin Rogers/HOU/ECT@ECT
cc:
Subject: New Albany


JD VACATION


The report named: GD - OPT P/L <http://trv.dev.corp.enron.com/linkFromExcel.asp?report_cd=12&report_name=GD+-+OPT+P/L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=05/22/2001>, published as of 05/22/2001 is now available for viewing on the website.