Dear Ms. Cash:

       TEXAS ATTORNEYS LIFE INSURANCE PROGRAM
                   TRANSAMERICA OCCIDENTAL LIFE

Michelle Hoogendam Cash  -  FEMALE AGE 37 - PREMIER NONSMOKER ANNUAL PREMIUM:

Insurance Amt:  $   250,000    10 Yrs: $132    15 Yrs:  $207    20 Yrs: $252
Insurance Amt:  $   500,000    10 Yrs: $205    15 Yrs:  $315    20 Yrs: $405
Insurance Amt:  $1,000,000    10 Yrs: $355    15 Yrs:  $520    20 Yrs: $700
Insurance Amt:  $2,000,000    10 Yrs: $650    15 Yrs:  $940    20 Yrs: $1300

1.  You can save up to 30% compared to comparable life policies.
2.  Your annual premium for the first 10, 15 or 20 years is guaranteed.
3.  The underwriter has met very rigorous standards - Transamerica Occidental Life(A+ rated).

To obtain more information please visit our website by simply clicking on http://www.waynedirect.com/atty/ or call us at (800) 461-3305.  Over 1,000 Attorneys have obtained their life insurance through our agency in the last three years alone.  We have placed over $1 Billion of Life Insurance with Transamerica since 1983.

Wayne Direct Insurance Services

Todd L. Wayne, General Agent

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
This message is being sent to you in compliance with the proposed Federal legislation for commercial email (S.1618 - SECTION 301). Pursuant to Section 301, Paragraph (a)(2)(C) of S.1618, further transmissions to you by the sender of this e-mail may be stopped at no cost to you by submitting a request to be removed. INSTRUCTIONS - REPLY with the word 'REMOVE' in the subject line.


Mr. Donald S. Clark
Office of the Secretary
Federal Trade Commission
600 Pennsylvania Avenue, N.W.
Washington, D.C. 20580

Dear Mr. Clark:

Pursuant to the Federal Trade Commission's request for comments regarding B2B
electronic marketplaces, attached please find the Comments of Enron
Corporation.  Should you have any questions, please feel free to contact me
at (713) 853-9193 or via e-mail at lleibman@enron.com.

Thank you for your attention to this matter.

Sincerely,

Lara Leibman
Manager, Government Affairs - The Americas
Enron Corp.
1400 Smith Street
Houston, Texas 77002


Hi, Sharon:

Can you fax me a copy of the Master Firm Gas Purchase/Sale Agreement dated effective as of September 15, 1999 between ECC and Reliant Energy Services, Inc.?

Thanks!

Marie


Bandwidth now OK per Marie.  She should have GTC to you no later than noon
tomorrow.

	Lisa Lees
	11/07/2000 03:08 PM

		 To: Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
		 cc: Stacey Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT
		 Subject: US Bandwidth STM-1

Tana/Karen:

The product long description below will fall under the new product type US
Bandwidth STM-1.  Credit (Tom Moran) has approved copying the profiles for
the new product type from the following:

US Bandwidth DS3 Phy Fwd

Please respond by 10 a.m. on Wednesday, November 8.

Thank you.

---------------------- Forwarded by Lisa Lees/HOU/ECT on 11/07/2000 01:58 PM
---------------------------

Robert B Cass
10/31/2000 05:38 PM
To: Matthew Adams/Corp/Enron@ENRON
cc: Jay Hawthorn/Enron Communications@Enron Communications, Richard
Schneider/Enron Communications@Enron Communications, Tom Moran/HOU/ECT@ECT,
Mark Taylor/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT, Bjorn Hagelmann/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT,
Lisa Lees/HOU/ECT@ECT, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT,
Stephanie Sever/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Melba
Lozano/HOU/ECT@ECT
Subject: US Bandwidth STM-1

Hi Matt-

SIGMA FACTOR REQUEST:
Commercial has requested the following new Bandwidth product on EOL.  The
product type is similar to a the other Bandwidth products currently listed on
EnronOnline.

New Product TypeCommodity:
Product Type:   US Bandwidth STM-1 Phy Fwd
Commodity: Bandwidth
Currency:     USD
Default UOM:   DSO miles
Country:   USA

Product: STM-1
Market Pooling Point Locations: New York to London (NY-LON)
DS0s: 2016
Miles: 3471

Physical Description :
A US Bandwidth Transaction with Enron Broadband Services, L.P. ("EBS")
pursuant to which the Seller shall sell and the Buyer shall buy the quantity
of Bandwidth Units submitted by Counterparty via the Website. The number of
DSO's per STM-1 is 2016. The price shall be as submitted by the Counterparty
via the Website. Any party entering into a Transaction to buy or sell
Bandwidth Units from or to EBS shall be responsible for connecting to the
Demarcation Point located at each Market Pooling Point in order to take
physical delivery of such Bandwidth.  In order to achieve such connectivity,
a party may incur costs and expenses and may additionally be required to
execute certain documentation.
The Term of the Transaction shall begin at 12:00 a.m. (EST) on the Effective
Date and continue to 11:59: 59 p.m. (EST) on the Termination Date. The
Effective Date is 01 Nov 2000 and the Termination Date is 30 Apr 2001.
The Transaction shall be for Bandwidth between the New York Market Pooling
Point (111 8th Avenue, Suite 1517, New York, NY 10011, NPA-NXX: 212-462,
CLLI: NYCMNY83H62) and the London Market Pooling Point (Telecity 2, 8-9
Harbour Exchange, 1st Floor, Room 1T, London, E14 9GE),  for a total of 3,471
DSO miles.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the Unit Price is quoted is one DSO mile
per month and the quantity shown shall be in number of Bandwidth Units per
month. Therefore, the Contract Price will be calculated as follows: Price x
the  number of DSO's per Bandwidth Unit x the number of DSO miles x the
number of Bandwidth Units.


FYI,

I will be preparing this assignment for signature.
----- Forwarded by Tana Jones/HOU/ECT on 09/22/2000 02:37 PM -----

	Tom Moran
	09/22/2000 02:33 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Assign from Aquila Energy Marketing Corporation to Utilicorp United
Inc.

Tana,

The following trades that were down predominantly on EOL need to be re-booked
from Aquila Energy Marketing Corporation to
Utilicorp United Inc.

Let me know if you have any questions.

Best regards,
tm

9/20/00

QO3341.1 438137
QO3350.1 438148
QO3483.1 438271
QO3601.1 438389
QO3788.1 438605

9/21/00

QO4798.1 439512
QO4802.1 439523
QO4810.1 439545
QO4821.1 439592
QO4826.1 439605
QO4829.1 439613
QO6730.1 No EOL number


for the moment...correct. stay tuned.

 -----Original Message-----
From: 	Cook, Mary
Sent:	Monday, October 08, 2001 11:06 AM
To:	Nettelton, Marcus; Mellencamp, Lisa
Cc:	Sager, Elizabeth
Subject:	RE: Draft Termination Letters
Sensitivity:	Confidential

I am assuming that this will not be utilized now, as we are moving toward another direction.

 -----Original Message-----
From: 	Nettelton, Marcus
Sent:	Friday, October 05, 2001 9:22 AM
To:	Mellencamp, Lisa
Cc:	Sager, Elizabeth; Cook, Mary
Subject:	Draft Termination Letters
Importance:	High
Sensitivity:	Confidential

Attached is a draft termination letter for the respective Master Agreements, including the ISDA. The assignment documentation in respect of the Enfolio Master Firm Purchase/Sale Agreement, Master Purchase & Sale Agreement and the Master Energy Purchase & Sale Agreement does not address the notice address, however the Master Netting Agreement is clear in that if there are any inconsistencies notice shall be effective if given in accordance with the Master Netting Agreement.

The termination of the Underlying Agreements is based upon a failure to provide Collateral.

Also attached is a draft termination letter in respect of the Qualified Scheduling Entity Services Agreement, which provides that either party can terminate on provision of 60 days prior written notice delivered during the first 180 days commencing June 1, 2001.

Regards,

Marcus

 << File: Event of Default Master Netting New Power.DOC >>  << File: QS. Agreement .doc >>


Wow!!!
Sounds great!!
It matches my interest exactly,
I really like it..

I'll send you an email after I talk with
my advisor tomorrow.

However I wonder
what will happen to work with DealBench team
if I join the project?

thanks for your quick response.
-----------------------------------------------------------------------
Jinbaek Kim
Ph.D Candidate
Dept. of Industrial Engineering and Operations Research
U.C.Berkeley
http://www.ieor.berkeley.edu/~jinbaek

Go Bears!

      :"'._..---.._.'";       `.             .'       .'           `.
     :      a   a      :                 __....._
     :     _.-0-._     :---'""'"-....--'"        '.
      :  .'   :   `.  :                          `,`.
       `.: '--'--' :.'                             ; ;
        : `._`-'_.'                                ;.'
        `.   '"'                                   ;
         `.               '                        ;
          `.     `        :           `            ;
           .`.    ;       ;           :           ;
         .'    `-.'      ;            :          ;`.
     __.'      .'      .'              :        ;   `.
   .'      __.'      .'`--..__      _._.'      ;      ;
   `......'        .'         `'""'`.'        ;......-'
         `.......-'                 `........'

On Wed, 2 May 2001 Vince.J.Kaminski@enron.com wrote:

>
> Jinbaek,
>
> This is a project related to automated trading platforms for commodities.
>
> Vince
>
>
>
>
>
> Jinbaek Kim <jinbaek@ieor.berkeley.edu> on 05/02/2001 05:21:40 PM
>
> To:   Vince.J.Kaminski@enron.com
> cc:
> Subject:  Re: summer work..
>
>
> Dr. Kaminski,
> thanks for your mail.
>
> I am sorry that I'll not be available earlier,
> I will talk with my advisor, but
> probably it will be pretty negative.
> however, I may be able to start it from June1,
> depending on what he tells..
> We will meet tomorrow afternoon,
> so I'll be able to let you know
> whether we can start work earlier then.
>
> And could you tell me briefly
> what are those projects you have in mind?
>
> Thanks!
>
> -----------------------------------------------------------------------
> Jinbaek Kim
> Ph.D Candidate
> Dept. of Industrial Engineering and Operations Research
> U.C.Berkeley
> http://www.ieor.berkeley.edu/~jinbaek
>
> Go Bears!
>
>       :"'._..---.._.'";       `.             .'       .'           `.
>      :      a   a      :                 __....._
>      :     _.-0-._     :---'""'"-....--'"        '.
>       :  .'   :   `.  :                          `,`.
>        `.: '--'--' :.'                             ; ;
>         : `._`-'_.'                                ;.'
>         `.   '"'                                   ;
>          `.               '                        ;
>           `.     `        :           `            ;
>            .`.    ;       ;           :           ;
>          .'    `-.'      ;            :          ;`.
>      __.'      .'      .'              :        ;   `.
>    .'      __.'      .'`--..__      _._.'      ;      ;
>    `......'        .'         `'""'`.'        ;......-'
>          `.......-'                 `........'
>
>
> On Wed, 2 May 2001 Vince.J.Kaminski@enron.com wrote:
>
> >
> > Jinbaek,
> >
> > Thanks for your message.
> >
> > We have a number of additional  fascinating projects that you can work
> > on.  As a matter of fact, it would be great to have you here earlier.
> >
> > Vince
> >
> >
> >
> >
> >
> > "Jinbaek Kim" <jinbaek@ieor.berkeley.edu> on 05/02/2001 05:18:32 AM
> >
> > To:   <Vince.J.Kaminski@enron.com>, "Raghavan, Suresh"
> >       <Suresh.Raghavan@ENRON.com>, "Mesquita, Ross"
> >       <Ross.Mesquita@ENRON.com>
> > cc:   <jinbaek@ieor.berkeley.edu>
> > Subject:  summer work..
> >
> >
> > Long time no see,
> > How have you been...must be busy and living a challenging life?
> > I have been pretty busy too,
> > to finish a project and write a paper, these days.
> >
> > Everything looks going OK for my summer internship.
> > I took necessary steps to work out of campus, and sent
> > signed contract to Molly a week ago..
> >
> > Here is what I am expecting to do in the summer.
> > Please let me know if you have any change in mind.
> > Actually, I wonder a little bit if DealBench changed its business
> model...
> > and maybe you got priority in something different
> > because it has been quite a while since we talked.
> > I'd like to what's going on in DealBench team...
> > Raghavan and Ross,
> > if we talk over phone it will be great!
> >
> > Dr. Kaminski,
> > If you think there is something else interesting to work with during the
> > summer,
> > to both you and I, please let me know.
> > My interest is auction, market design, and simulation.
> > I am taking a financial engineering class, (mostly on option pricing)
> > and working on electricity generator valuation problem based on
> > spark spread option.
> >
> > All of you,
> > Let's keep in touch until we meet in June!!
> >
> > Best Regards,
> > Jinbaek
> >
> >
> > Tentative Work Period: 6/4 - 8/4
> >
> > 1. Tasks:
> > 1) Survey on Auctions: the State of Art
> > Single-item auction, Multi-Unit auction, Sequential auction,
> > Multi-attribute auction, Combinatorial auction
> >
> >      - Theoretical
> >      - Experimental
> >      - Algorithmical
> >
> > 2) Deal Bench's Auction Model Analysis
> >
> > 2. Deliverables:
> > 1) 3 Presentations:
> >      - 1st presentation: around 6/30: on different auction types and
> > researches
> >      - 2nd presentation: around 7/15: the State of Art in auction studies
> >      - 3rd presentation: around 8/1: Deal bench's model analysis
> >
> > 2) Report:
> > Summary of auction study in laymen's term
> > Deal bench's model analysis
> >
> >
> >
> >
> >
> >
> >
>
>
>
>
>
>


You should continue to sign the dashes and just alert me to any matter going
to Frevert or Whalley.  Thanks.  Mark

	John Schwartzenburg@ENRON_DEVELOPMENT
	03/29/2001 02:17 PM

		 To: Mark E Haedicke@ENRON_DEVELOPMENT
		 cc:
		 Subject: Final EPC 63 and 64 DASHs

Mark, I have not talked to you about whether you want me to sign-off on
DASHes before they go Buy/Glisan/Skilling. I was doing so for EECC and NEPCO
for Vicki, but you might want to revisit that.

The attached are for two of our work-out projects in the Gulf of Mexico.
Please have a look and let me know if you want to sign DASHEs for thsi unit
or if you prefer that I continue to sign them.

 JWVS
----- Forwarded by John Schwartzenburg/ENRON_DEVELOPMENT on 03/29/2001 02:14
PM -----

	Karen L Barbour/ENRON@enronXgate
	03/28/2001 01:06 PM

		 To: Keith Dodson/NA/Enron@ENRON, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Emy Geraldo/ENRON@enronXgate, Keith
Marlow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William Gehle
Jr/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Randy Pais/Corp/Enron@Enron, Michael
Pearson/NA/Enron@Enron, Tom Coneybeer/Corp/Enron@Enron, David
Gorte/ENRON@enronXgate
		 Subject: Final EPC 63 and 64 DASHs

RAC comments updated as requested.  Please initiate the circulation for
signature and have the signed originals brought to Emy.  Thanks.

 -----Original Message-----
From:  Pearson, Michael
Sent: Wednesday, March  28, 2001 9:56 AM
To: Schwartzenburg, John
Cc: Geraldo, Emy; Dodson, Keith; Barbour, Karen L.; Marlow, Keith; Gehle Jr,
William; Pais, Randy; Coneybeer, Tom
Subject: Re: EPC 63 and 64 DASHs

John, it looks fine to me.  The only comment that could be updated is the
last sentence of the Other RAC Comments could be replaced with  "Horizon has
indicated they have found another source of financing and Enron is currently
providing information to facilitate a take-out offer from Horizon next month."

Mike


---------------------- Forwarded by Janine Migden/DUB/EES on 04/17/2000 08:49
PM ---------------------------

Christine Patronik-Holder <patronikc@juno.com> on 04/17/2000 06:30:41 PM

To:	ajohnson@dispatch.com, awelsh@ap.org, bobmaty@henderson.net,
davidhughes@igc.apc.org, dtrevas@juno.com, DWillard@qn.net, ect@ohio.net,
editormj@prodigy.net, gongwer@iwaynet.net, ImpactWeekly@commkey.net,
james.covert@dowjones.com, jason.gifford@greenmountain.com,
jcimperm@plaind.com, jclark@plaind.com, jjdrew@attglobal.net,
jkuehner@plaind.com, jmccarthy@ap.org, Janine Migden/DUB/EES@EES,
john.jarvis@thomnews.com, kaths@statenet.com, kschaefer@wcpn.org,
marty.gelfand@mail.house.gov, mdouglas@thebeaconjournal.com,
medwards@dispatch.com, mike_wagner@coxohio.com,
sbeachy@maild.sen.state.oh.us, SBROUSSA@plaind.com, sdenman@erols.com,
stheis@plaind.com, thomson@netwalk.com, toddfranko@sanduskyregister.com,
webeditor@tribune-chronicle.com, william_hershey@coxohio.com,
wspratley@aol.com
cc:

Subject:	FIRSTENERGY "DEAL" OUTRAGEOUS

FOR IMMEDIATE RELEASE
Tuesday, April 18, 2000

FIRSTENERGY "DEAL" OUTRAGES SAFE ENERGY

COLUMBUS-----Safe Energy Communication Council-OHIO issued the following
statement in response to the electricity deregulation settlement
agreement filed by FirstEnergy Corporation at the close of business,
April 17, 2000.

? FirstEnergy Corporation's behind-closed-door deal has resulted in the
most anti-competitive, anti-consumer, anti-environment interpretation
imaginable of SB 3, Ohio's electricity deregulation law, slated to take
effect Jan. 1, 2001.

? FirstEnergy's acknowledgement that the proposed settlement insures they
will receive the entire $8.9 billion ($6.9 billion pre-tax) in so-called
"stranded costs" constitutes ratepayer robbery unprecedented in Ohio
history.

? The willingness of the Public Utilities Commission of Ohio, the Ohio
Consumers Counsel and others to agree to this covert contract without
public scrutiny of FirstEnergy's numbers is a slap in the face to fair
process.

Safe Energy will continue to pursue public investigation of FirstEnergy's
transition plan and push for the elimination of stranded costs in an
effort to promote real competition in Ohio's electricity market.

###

Christine Patronik-Holder
Safe Energy Communication Council
660 Crackel Road
Aurora, Ohio 44202
440-708-1755 voice, 440-708-1754 fax


Tanya:  FTU has asked to resume negotiations on the ISDA.  We originally sent our draft without a Paragraph 13 and FTU wants a Paragraph 13 (similar to the one FTU negotiated with ENA).  If you are agreeable to credit, can you please propose a credit worksheet?

Thanks.  Sara

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


Sally here is the information that you requested per Thresa Allen.
Leslie Reeves(x3-7962) direct reports:
Thresa Allen(x3-6598)
Kim Theriot(x3-1771)
Dan Houston(x3-1416)

Kristin Albrecht(x3-4763) direct reports:
Stacey White(x3-1870)
Donnie Vinson- 834-7973 or 503-464-7973 (Senior Specialist-Portland)
Monica Lande- 834-3722 or 503-464-3722 (Senior Specialist-Portland)
Valarie Sabo- 834-3910  or 503-464-3910 (Senior Specialist-Portland)

If you need additional information please let me know.

Thanks
Lisa x39194


I'm a strong believer in the team approach.  None of us are as smart as all
of us.

Just left you a message - I'll turn back to finishing the letter before I
leave.

Kay


Has there been any updates to the Netco access requested?

Russ
 -----Original Message-----
From: 	Love, Phillip M.
Sent:	Wednesday, January 09, 2002 4:28 PM
To:	Severson, Russ
Subject:	RE: Netco Sitara Access

For West:
Risk(give these people access to all regions)-
Phillip Love
Randy Bhatia
Melissa Videtto
Stephanie Hopkins
Ryan O'Rourke
Zach McCarroll

Traders(just West access)-
Mike Grigsby
Phillip Allen
Keith Holst
Frank Ermis
Jay Reitmeyer
Jane Tholt
Matt Lenhart
Jason Wolfe
Matt Smith

I will have Patti Sullivan from logistics send you her list.  Thanks.
PL

 -----Original Message-----
From: 	Severson, Russ
Sent:	Tuesday, January 08, 2002 4:05 PM
To:	Keiser, Kam; Love, Phillip M.; Palmer, B. Scott; Winfree, O'Neal D.
Cc:	Gossett, Jeffrey C.
Subject:	Netco Sitara Access

Security access for the "Estate" will be the same as Production currently is.
Access for "Netco" will have to be set up from scratch.
Can each of you give me a list of the people that should have access to  "Netco".
Access is still preliminarily being set up on a West, East, Central and Texas regional basis.
Included in the list should be Risk, Logistics, Trading and anyone else that you know of that you want to have access to your region..

The plan is to have a large mass set up,  additional updates will be handled under eRequest, under the new application region code "Houston - Netco"
(This name will be changed later)

Any questions or comments, please give me a call.

Russ
x37386


Do you want Lisa and Claudia at the meeting as well or just me?

Thanks

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


I  am considering options for leaving Scient and thought I'd drop you a
quick  note.?
?
Enron?is one of very few organizations in the  world which I admire and think
will thrive in the long term.? I'd like to  play a role in that success and
think my background has many of the qualities  which could prove useful.?
I've attached my resume and would greatly enjoy  starting a dialogue.
?
Regards,
?
Bradley??
 - Bradley Good.doc


I think permitted transfers are those where the credit support is the same
(Enron Corp gty covers affiliate we transfer to).  In this case, FUNB could
transfer to an affiliate if they were willing to gty the obligations of the
affiliate (since it is the parent, in essence).

 -----Original Message-----
From:  Shackleton, Sara
Sent: Thursday, April 19, 2001 9:33 AM
To: Rohauer, Tanya
Subject: First Union National Bank ("FUNB")/Enron Corp. ISDA Master Agreement

Tanya:

For purposes of "Transfer", shall we permit both parties to transfer to
Affiliates?  Would FUNB require a guaranty?  Or do we feel strongly that
neither party should have the ability to transfer except with the written
consent of the other party?

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


Hi Chelsea,

How is it going.  I'm sure you are doing a fine job with the kids

Love

Dad


Kate, were you able to test the Fwd Obligation Report?  Mr. Luu is ready to
push it in to production, but we wanted you to look at it and give it your ok
first.

Thanks,

Brett Pate
Enpower QA


Thanks for your help - Sara

 -----Original Message-----
From: 	"Leh, Ted" <ted.leh@gs.com>@ENRON
Sent:	Wednesday, November 07, 2001 7:18 AM
To:	Redmond, Colleen; Hardt, Barbara; Elia, Steve; Adrien, Daniel; Vince, Robin; Shackleton, Sara; Peyer, Sibyl; Hickerson, Gary
Subject:	Thank you one and all for making the Fed Wire deadline...

...and I was only 30 seconds late for my Parent - Teacher Conference.
Great driving performance by Bob Litterman (yesterday's carpool driver).
Marriage still in tact for another day (and another Enron adventure).

Thanks again


We have an agreement which resides in TurboPark.  Kathy Clark did the
contract.

From: Brian D Barto@ENRON_DEVELOPMENT on 03/09/2001 02:41 PM
To: Kay Mann/Corp/Enron@Enron
cc: Richard Morell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: ABB Purchase Agreement

Kay:  Brice Golden insists that he has learned about the existance of a
Purchase Agreement in place under which projects such as his for Ft Pierce
can add their order for Transformers, without having to negotiate a stand
alone contract.  Sort of an ala carte arrangement.  I have asked Sheila Tweed
what she knew about this, and she said she had nothing, but did not know what
you might have done.  I know we have done bulk purchases and later split for
the different peaker  projects, and some others similar to that, but no
blanket agreement.  What have you got?

BB


Peggy,

I have attached an invitation for Mother's Night Out for Mrs. Bryant's PreK class.  I would like to send them in this Thursday's Friday folder.  Please let me know if this is ok.

Thanks

Tracy Geaccone


Did you see the second austin powers movie?  I just had lunch and I feel like
Fat Bastard.

Alexandra Saler@EES
01/23/2001 11:15 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

I don't run very fast.  is that a problem with you?  I may have to walk some
of the loop.

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

ok, i'm laughing, thanks.  but NOW you get it!

Alexandra Saler@EES
01/23/2001 10:53 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

well aren't you Mr. Know It All!

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

you are a june birthday right?  i'm may, and  i don't think i'm a
dragon--it's done by birth year, no relation to zodiac.  still checking...

Alexandra Saler@EES
01/23/2001 10:41 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

you are a dragon b/c I am also a gemini.

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

I'm an 8 of clubs, and a gemini; checking on the chinese animal sign

Alexandra Saler@EES
01/23/2001 10:17 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

well...what are you?  I am not going to break up with one dog for another!

To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:

oh, i forgot to point out one more thing.  aren't you a dragon and mark a
dog?  should i call the ghostbusters?

ok, i'll stop


Another one to brighten your day!  SRS
 - President's Sail.JPG


That was the absolutely one of the stupidest jokes I have ever heard.  Maybe
you guys should put down your bongs for a minute and try to come up with
something a little better than that.  GO BEAVS!


There is a note for you to be in Monterrey on Wednesday but I can't see any definite travel plans.  Shall we cancel?

Nicki

-----Original Message-----
From: Kitchen, Louise
Sent: Friday, September 14, 2001 17:24
To: Daw, Nicki
Subject: Fw: Conference - Last Details

Is this in my diary - I'm supposed to be in monterrey next week
--------------------------
Sent from my BlackBerry Wireless Handheld

-----Original Message-----
From: Williams, Jaime <Jaime.Williams@ENRON.com>
To: Kitchen, Louise <Louise.Kitchen@ENRON.com>
Sent: Fri Sep 14 17:11:21 2001
Subject: Conference - Last Details

Conference for next week: I guess it doesn't make sense for you to travel, after all that happened this week.
Numbers are great, we have 140 people confirmed already.  I'll do the welcome Speech, and Steve's part as well.
I'll try to get some pictures, and send them out to you.
Best regards.


Sorry.  I just did.

DG


As I mentioned, I think the "new and improved" versions are better starting
points, but here's what we used.

I don't recall whether the concept of a development fee has been vetted with
the accountants, as it wasn't applicable to the Intergen deal.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/01/2001 01:10
PM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 01/02/2001 09:07:05 AM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>

Subject: RE: CA Energy Development LLC documents

 <<2R6L18!.DOC>>  <<2RM309!.DOC>>  <<2RLS10!.DOC>>  <<2R6K13!.DOC>>
<<2RSW04!.DOC>>

Kay:

Electronic copies of execution drafts of the following documents are
attached:

 1.  Letter Agreement for CA Energy Development I LLC;
 2.  Letter Agreement for CA Energy Development II LLC for the
turbine;
 3.  Letter Agreement for CA Energy Development II LLC for the
transformer;
 4.  First Amended and Restated Limited Liability Company Agreement
for CA Energy Development I LLC; and
 5.  First Amended and Restated Limited Liability Company Agreement
for CA Energy Development II LLC.

The originals of these documents were forwarded by courier to your office on
Friday.  I will deliver the original Guaranty Agreements to you today.  Let
me know if you need anything else.  Thank you.

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

  -----Original Message-----
  From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
  Sent: Tuesday, January 02, 2001 8:40 AM
  To: Campbell, Carolyn
  Subject: CA documents

  Hi Carolyn,

  Please email me the execution version of the documents
signed last week, as
  well as the current version of the other documents.  Were
the originals put
  in the mail?  My assistant isn't here, so I can't tell what
I have yet.

  Thanks,

  Kay

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 2R6L18!.DOC
 - 2RM309!.DOC
 - 2RLS10!.DOC
 - 2R6K13!.DOC
 - 2RSW04!.DOC


DB Editor:
http://fundamentals.dev.corp.enron.com/commoditywebs/ena/gas/securesections/pipeline/dbeditor/

Manual Entry:
http://fundamentals.dev.corp.enron.com/commoditywebs/ena/gas/securesections/pipeline/manualentry

Enjoy :-)

Chris


Fix all!  I need to tell Peter and Nancy when you'll be in their apartment.


I know we are holding for a later filing, but I have attached further
comments anyway.  The document is still too rough to send out.  We need to
take the opportunity, as soon as possible, to get a hard hitting, thoroughly
researched and carefully written document in front of the Commissioners.
California's reaction to the Judge's recommendation is likely to give FERC
(especially the new commissioners) a feel for how irrational the California
politicians can be.  We will have a limited opportunity to take advantage of
that realization.  We need to hit it hard in the pleading, our conversations
at the Commission, the Hill and the media.

Linda Robertson
07/09/2001 09:58 AM
To: James D Steffes/NA/Enron@Enron
cc: Alan Comnes/Enron@EnronXGate, Carole Hodge/ETOL/EU/Enron@ETOL,
dwatkiss@bracepatt.com, Jeff Dasovich/NA/Enron@ENRON, Richard B
Sanders/Enron@EnronXGate, Richard Shapiro/NA/Enron@ENRON, Robert
Frank/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Steven J
Kean/NA/Enron@ENRON, Susan J Mara/NA/Enron@ENRON

Subject: Re: NEW DRAFT OF ENRON STATEMENT

Let me emphasize that these comments are to be filed COB TODAY.

	James D Steffes
	07/09/2001 10:50 AM

		 To: Robert Frank/NA/Enron@Enron, Steven J Kean/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Carole Hodge/ETOL/EU/Enron@ETOL, Richard B
Sanders/Enron@EnronXGate, dwatkiss@bracepatt.com, Alan
Comnes/Enron@EnronXGate, Susan J Mara/NA/Enron, Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: NEW DRAFT OF ENRON STATEMENT

HERE IS THE MOST RECENT STATEMENT WITH STEVE'S COMMENTS.

Jim


PLEASE LET ME KNOW IF YOU HAVE ANY EDITS TO THIS Email.  I want to send it to the DC staff.

Out of super super precaution, Enron security and others in Houston have recommended that personnel in the DC office be tested for Anthrax exposure.  They do not think there is a problem, but nonetheless recommended that we take this step.  I am awaiting word on where we should go for the test.  Also, please let Carolyn Cooney know if you have had any visitors to the DC office, who have been to Capitol Hill in the last three weeks.

Again, this is strictly out of precaution, as we strongly believe there is NOT a problem.  In the meantime, while normal business will not be possible with Capitol Hill, let me encourage everyone to continue working on those internal projects we can get done and have been waiting for a quiet moment to do so.  Let me know if you have any questions.  Thanks


Here's one that's "final," not draft, that just came out.  I'm assuming that
this is the one the press is refering to.  Let me know that you think.
----- Forwarded by Jeff Dasovich/NA/Enron on 10/09/2000 11:43 AM -----

	Sarah Novosel
	10/02/2000 03:47 PM

		 To: James D Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/SFO/EES@EES, Mary Hain/HOU/ECT@ECT, Richard Shapiro/HOU/EES@EES
		 cc:
		 Subject: Final report from the Cal PX on the summer prices

---------------------- Forwarded by Sarah Novosel/Corp/Enron on 10/02/2000
04:40 PM ---------------------------

"Tabors, Richard" <tabors@tca-us.com> on 10/01/2000 08:40:28 AM
To: jhartso@enron.com, snovose@enron.com, dwatkiss@bracepatt.com,
rcarroll@bracepatt.com
cc: "Englander, Scott" <sle@tca-us.com>, "Cardell, Judith"
<jcardell@tca-us.com>

Subject: Final report from the Cal PX on the summer prices

Thought you might find this one particularly interesting.

Richard

 <<Final Summer 2000 Price Report.pdf>>

 - Final Summer 2000 Price Report.pdf


Agenda -  (Meeting should last LESS than two hours allotted above).
Approx. 4 reps. form EY would like to meet w Shawn to talk about Enron's
assurance service strategy in light of recent SEC directives.

EY reps - I will provide list of attendees ASAP
Room - to be determined


We have a new arrival - Molly Hope Dagley, born this morning at 9:55.

Mother and daughter are doing well.

Congratulations, Dagley Family!

To unsubscribe from this group, send an email to:
emca-unsubscribe@egroups.com

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/


FYI.  Lauren Ipsen at Cisco told me that she forwarded our package of
letters, etc. to the AEA.

Best,
Jeff

	Karen Denne
	04/04/2001 05:17 PM

		 To: Janel Guerrero/Corp/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, James D
Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/NA/Enron@ENRON, Sandra McCubbin/NA/Enron@Enron,
jkradin@marathon-com.com, syamane@marathon-com.com, Steven J
Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron
		 cc: Karen Denne/Corp/Enron@ENRON
		 Subject: Sun Microsystems

Ken Lay put a call in today to Scott McNealy.  His office called back to find
out what specific bill included direct access.  When I called back, they put
me in touch with Mavis Toscano, who's in Sun Microsystems' state and local
government affairs office.  She's Scott's point person on public policy, and
she's been working on the energy issue.  Mavis had done some checking and no
one had heard anything about direct access.

Sun is active in three main trade associations: the Chamber, the American
Electronics Association (AEA) and Technet.  None of those organizations said
their members were asking for direct access, but Mavis promised to put calls
in to them and get direct access on the radar screen.  Although she said
they're not inclined to send letters, Mavis said she'd make some calls into
the legislators, specifically Bowen.

Contact info:

Mavis Toscano
901 San Antonio Road
MS PAL 01-554
Palo Alto, CA 94303
650-336-7115
650-336-0835 - fax
mavis.toscano@sun.com


Yeah, give me a call.  I'm headed home to do GMAT homework.

Gabriel Monroy
02/05/2001 05:18 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: did you hear?

Yes, Do you want me to call you after French so you can tell me all about it?


Vince,

From the sound of the articles, it appears ENE is ready to exit India, or alternately to get into an arbitration battle.

I have scheduled some time with you at 10.30 to discuss.

Regards,
Sandeep.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on 04/23/2001 07:59 AM ---------------------------

Nikita Varma
04/23/2001 07:20 AM
To:	Nikita Varma/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:	 (bcc: Sandeep Kohli/ENRON_DEVELOPMENT)

Subject:	From The Enron India Newsdesk - April 23rd newsclips

April 23, 2001, http://www.financialexpress.com/fe20010423/fed3.html
Godbole's report unearths absurd calculations , Maharashtra could use this to wriggle out of the Dabhol project
Sucheta Dalal
----------------------------------------------------------------------------------------------------------------------------------------
April 23, 2001,  http://www.financialexpress.com/fe20010423/news1.html
DPC board set to authorise president, Enron MD to issue notice of termination, Sanjay Jog
Scrapping of Power Purchase Agreement
----------------------------------------------------------------------------------------------------------------------------------------
Monday, April 23, 2001, http://www.business-standard.com/today/corp8.asp?Menu=2
DPC seeks OK to exit power project , Tamal Bandyopadhyay & S Ravindran
----------------------------------------------------------------------------------------------------------------------------------------

April 23, 2001, http://www.cybernoon.com/index.html
Enron winding up operations in India?
----------------------------------------------------------------------------------------------------------------------------------------

State for consolidating all DPC arbitration notices, Sanjay Jog
Monday, April 23, 2001, http://www.financialexpress.com/fe20010423/news3.html
----------------------------------------------------------------------------------------------------------------------------------------

Monday, April 23, 2001, http://www.economictimes.com/today/23econ04.htm
Maharashtra to set up experts panel on Enron

The article also appeared in the following newspaper

BUSINESS STANDARD
April 23, 2001, http://www.business-standard.com/today/state3.asp?Menu=32
Maharashtra to set up expert panel on Enron

----------------------------------------------------------------------------------------------------------------------------------------
April 23, 2001, http://www.economictimes.com/today/23econ07.htm
 'Enron is a national problem'
----------------------------------------------------------------------------------------------------------------------------------------
April 23, 2001, http://www.cybernoon.com/index.html
CM takes Enron to Delhi today
----------------------------------------------------------------------------------------------------------------------------------------
Monday, April 23, 2001,http://www.outlookindia.com/full.asp?fname=Enron+%28F%29&fodname=20010430&sid=1

The Real Story Of Dabhol If a judicial probe, suggested by the committee, is ordered into the Enron deal, it could embarrass three governments    RANJIT BHUSHAN
----------------------------------------------------------------------------------------------------------------------------------------

Monday, April 23, 2001, http://www.business-standard.com/today/state2.asp?Menu=32
MSEB revenue collections up at Rs 968 crore in March , Renni Abraham
----------------------------------------------------------------------------------------------------------------------------------------
THE FINANCIAL EXPRESS,April 23, 2001
Godbole's report unearths absurd calculations , Maharashtra could use this to wriggle out of the Dabhol project , Sucheta Dalal

It is finally Quit India time for Enron. Though the controversial multinational has denied plans to sell its stake in Dabhol Power Company (DPC), informed sources say that it has sent feelers to China Light & Power and others to offload its majority holding.Getting out of India may be the best course for Enron. Though it has threatened a fight and invoked political force majeure, the Energy Review Committee headed by Madhav Godbole will certainly weaken its case. The committee points out that the many "infirmities" in the DPC approval process brings into question the "propriety of the decisions".

 It is clear that the $20m that Enron spent on educating India's policy-makers and bureaucrats did not even teach them the basics of techno-economic appraisal or due procedure with regard to large international contracts. The committee says it is "troubled with the failure of governance that seems to have characterised almost every step of the decision making process on matters relating to DPC. The failure of governance has been broad, across different governments at different points of time, at both the state and the central level, and across different agencies associated with examining the project and at both the administrative and political levels. It strains belief to accept that such widespread and consistent failure to execute assigned responsibilities is purely co-incidental".

Though the committee decided that it is not the proper forum to investigate these infirmities, its two key members, Mr Godbole, and former secretary in the Ministry of Finance, EAS Sarma, have asked for a judicial inquiry into the process of clearing the DPC project. Other members felt a judicial inquiry would delay the negotiation process and "not serve any purpose". There may be some merit in an argument against a further delay in renegotiating tariffs or facilitating Enron's exit, but the report certainly provides the Central Vigilance Commission (CVC) with all the grounds that it needs to start an investigation.

CVC N Vittal has already received innumerable requests to investigate the deal, especially the beneficiaries of its education campaign. Though the political establishment may be reluctant to set up a judicial inquiry, the CVC can establish whether there are lapses on the part of "government functionaries including political executives" and ensure "appropriate action" against them. If it is indeed able to establish "undue influence" in signing the contract, then Maharashtra may be able to get out of a deal patently against the public interest without any monetary liability.

The Godbole committee has vindicated the stand of anti-Enron activists who have been opposed it since negotiations began in 1994. It establishes that Enron power is expensive per se, and the project needs to be re-negotiated, regardless of the causes for the Maharashtra State Electricity Board's (MSEB) financial distress. Also that DPC's extortionate tariffs are not merely because of the steep rise in petro-product prices and rupee depreciation, but mainly on account of its sweetheart deal with the state government. Enron's contract is clearly one-sided; it deliberately uses expensive raw material (ignoring World Bank warnings), has worked on fanciful demand-supply estimates and several legal requirements and permissions.

In fact, the committee has found that the MSEB has been paying Enron Rs 930 crore more than it should every year. This comprises overcharging of Rs 253 crore on account of the large regassification plant of which only 42 per cent of the capacity is used for DPC. There's also a Rs 100 crore extra billing to the MSEB for shipping and harbour charges although the cost of these facilities had been included in the capital recovery charge. By charging more than twice the operations & maintenance rate stipulated by the government of India, Enron collects approximately Rs 246 crore extra every year. It has also been collecting Rs 332 crore every year through inflated fuel consumption claims. Enron has been charging at 1878 kcal/kwh under the power purchase agreement (PPA) although the equipment manufacturer has guaranteed it a much lower consumption rate. This gives it a fat fuel arbitrage opportunity at the cost of the people of Maharashtra.

The committee has also pointed to the strange practice of using four different exchange rates for different aspects of the project negotiation: a rate of Rs 32 per dollar was assumed for calculating debt service of rupee loans, Rs 34.5 per dollar as reference rate for Phase-I, Rs 39.35 per dollar as reference rate for Phase-II and a curious Rs 42 per dollar for calculating Government of India tariff. Forcing a reduction of these excessive charges has nothing to do with contract cancellation. All it needs is tough negotiation and public pressure on the political establishment.

The Godbole committee has established that DPC's tariffs can easily be halved if excess payments are eliminated and unfair conditions such as the dollarisation of payments, the take-or-pay clause and escrow facility (which is in fact hampering MSEB's reform particularly in power distribution) are scrapped.The security of future payments to DPC under the restructured tariff would be based on increased cash flows from a reformed distribution system. The committee also gives Enron a difficult escape route. It says that if the multinational finds the conditions for restructuring too onerous, it should free MSEB from its contractual obligations and find buyers outside Maharashtra. The committee has tried to establish another precedent on all projects negotiated by government: "The public has a right to know what is being contracted on their behalf" and has recommended that all documents, including contracts related to all Independent Power Projects (IPPs), particularly DPC, should be published by the Maharashtra government within two months.

Also, having established that demand-supply estimates by the state government were fanciful, the committee has asked MSEB to defer all negotiations with power producers until demand levels in the state permit full absorption of power generation from such IPPs. It recommends that such negotiations should be in accordance with the least-cost plan spelt out by the report. This should also end the hectic lobbying by Reliance (Patalganga), Mittals (Bhadravati), the BSES (Saphale) and others to set up IPPs in Maharashtra.
----------------------------------------------------------------------------------------------------------------------------------------THE FINANCIAL EXPRESS, April 23, 2001
DPC board set to authorise president, Enron MD to issue notice of termination, Sanjay Jog
Scrapping of Power Purchase Agreement

The board of directors of Dabhol Power Company (DPC), which has already taken an aggressive posture, has proposed to authorise the Enron India managing director K Wade Cline and DPC president and chief executive officer Neil McGregor to issue notices for the termination of power purchase agreement (PPA) and transfer of Dabhol project in view of continuing default by the state and Central governments and Maharashtra State Electricity Board (MSEB).

The board of directors, which would meet on April 25 in London, also plans to appoint Mr Cline as its "true and lawful Attorney-in-fact" and authorise him to represent the company in the negotiation of all project contracts and financing agreements and their amendments and modifications.Top sources told The Financial Express that DPC would authorise Mr Cline and/or Mr McGregor to serve the preliminary termination notices and transfer notices to the state and Central governments and MSEB under clause 17 and schedule 11 of the PPA.

"In response to the continuing default by the MSEB of its payment obligations under the PPA, the failure of the Government of Maharashtra to honour obligations under its guarantee and state support agreement and failure of the Government of India to honour obligations under its counter guarantee, the company has sought recourse to dispute resolution and has initiated conciliation and arbitration proceedings," the company resolution said. "Consistent with this recourse to contractual remedies, the company now seeks the authority to serve preliminary termination notices and transfer notices pursuant to clause 17 and schedule 11 of the PPA from time to time and at any time upon the occurrence of an event giving rise to its right to serve such notices as determined by the company," the resolution added.

According to the resolution, the directors, the company secretary and officers of the company and each of them acting individually, are authorised and empowered to execute and deliver such documents and instruments and take such other actions as they deem fit to effect the purpose of the resolution, in the name and for and on behalf of the company. Against this backdrop, the state government and MSEB have been exploring the possibilities of issuing termination notice to the DPC for its failure to meet the contractual obligations under the PPA. The state government and MSEB sources said that such a notice could be served by the MSEB as DPC has not paid the rebate (penalty) of Rs 409 crore for misdeclaration and default on the availability of power on January 28 and February 13.

The state government and MSEB, which reviewed its position on Saturday at a meeting convened by the Chief Minister Vilasrao Deshmukh, are of the view that they have a strong case and substantial grounds to slap the termination notice to the DPC. The DPC's move to appoint Mr K Wade Cline as its "true and lawful Attorney-in-fact" deserves importance especially when the state government proposes to set up a negotiating committee to cut the per unit cost and gauge the possibility of sale of Dabhol power to the power deficit states.

Mr Cline would also be authorised to dispose of equipment that is worn out or obsolete or other equipment or fuel no longer expected to be used in the ordinary course in amounts exceeding Rs 64 crore or the equivalent in foreign currency in any financial year. Furthermore, Mr Cline would be in a position to enter into contracts and take any other actions for purpose relating to the day-to-day operation of the company's business or exercise its rights and discharge its obligations under the project contracts and the financing agreements
----------------------------------------------------------------------------------------------------------------------------------------BUSINESS STANDARD, Monday, April 23, 2001
DPC seeks OK to exit power project , Tamal Bandyopadhyay & S Ravindran

The Enron-promoted Dabhol Power Company (DPC) is seeking the approval of its 25 lenders to pull the plug on the $3 billion power project in Maharashtra tomorrow (April 23).The meeting has been convened in London at the initiative of the company. The meeting is crucial as the DPC board is meeting on April 25 in London to discuss the issue of serving a termination notice to the Maharshtra State Electricity Board (MSEB).

DPC cannot go ahead with this unless it gets the go ahead from the lenders. While bankers said the lenders' meeting is about the second phase of the project, which is still under construction, state government officials clarified that since there is only one PPA covering both phases of the project, the lenders' decision will be applicable to the existing Phase I also. The second phase of the project involves 1,444 MW generation capacity, whereas Phase I of 740 MW is already operational."According to the loan agreement, even if only four per cent of the lenders agree to terminate the contract then DPC can do so," highly placed sources in the lenders' consortium said from London.

This in effect means that only one lender has to agree for DPC to serve a preliminary termination notice.Following the notice, there is a cooling off period of six months for both parties (the MSEB and DPC) to find a mutually acceptable solution, which may take the form of a re-negotiated PPA, sources added. Sources also said that there are two separate meetings scheduled with lenders. The Monday meeting will be attended by all the lenders including multilateral funding agencies like Japanese Exim Bank and OPIC. The second round of meetings schedule for Tuesday will be only with the global loan arrangers ANZ Investment Bank, CSFB, ABN -AMRO, Citibank and the State Bank of India (SBI).Two representatives each from the Indian lenders, IDBI, ICICI and SBI have already left for London.
----------------------------------------------------------------------------------------------------------------------------------------
AFTERNOON, April 23, 2001
Enron winding up operations in India?

Marred by controversies since inception, the US-based energy major Enron-promoted Dabhol Power Company (DPC) board will meet this Wednesday, April 25, in London to decide the fate of its 2,184 MW project in Dabhol, including winding up of its operations. "The top most item on the agenda is to empower DPC Managing Director Neil McGregor to wind up operations in the country," state government sources told PTI on Saturday. When contacted, DPC spokesperson declined to comment on the agenda of the London meeting and added, "I will not like to comment on speculations."

Sources said a team comprising three top officials of Maharashtra State Electricity Board (MSEB) including chairman Vinay Bansal would attend the high-profile board meet. Bansal told PTI that MSEB has decided to give a "fitting reply" and present its case concerning the Rs. 401 crore penalty that the loss-making board slapped on DPC on February 28, for not generating required power within the stipulated time as per the Power Purchase Agreement (PPA).

This London meet comes two days after the international and domestic financial institutions sit together (April 23) to discuss DPC's future course of action in the wake of non-payment of dues to the tune of Rs. 223 crore by MSEB and also to take into account the aforesaid penalty.Over the payment of dues of December 2000 and January of Rs. 102 crore and Rs. 111 crore respectively, sources said, both the state government and MSEB had offered to make a "protest" payment as per the PPA, but DPC, India's first fasttrack power project, refused to accept on that condition.

Currently, Enron India holds 65 per cent in the US $900 million DPC project, which includes MSEB's 15 per cent while General Electric and Bechtel hold 10 per cent each. The controversial "now on now off" project began in 1992 but ran into rough weather after the Shiv Sena-BJP came to power and was scrapped only to be revived after renegotiating the PPA. Fresh trouble arose in October last when MSEB began defaulting over the "enormous" billing following which DPC invoked the state and centre's counter guarantee and also recently sent three international arbitration notices and invoked the political "forced majeure" implying inability to conform towards any financial commitment.

DPC had yesterday stated that it had no plans to reduce its stake below 50 per cent but according to Enron Corp's Chief Executive Officer Jeff Skilling the company would be interested in talking to potential buyers for its stake. Skilling, according to an international financial daily, said the multinational continues to see strong growth in North America, Europe and Australia indicating a possibility of exiting from India
----------------------------------------------------------------------------------------------------------------------------------------
THE FINANCIAL EXPRESS, Monday, April 23, 2001
State for consolidating all DPC arbitration notices, Sanjay Jog

The Maharashtra government has decided to appeal to the Centre for consolidating all arbitration notices served DPC for the "continuous default of contractual obligations" and name a common arbitrator for the state government, the Centre and MSEB.The Maharashtra government team led by the chief minister Vilasrao Deshmukh, at its meeting with the union finance minister Yashwant Sinha and union power minister Suresh Prabhu on Monday, also proposes for the appointment of a non-Indian arbitrator with a view to cutting the cost substantially.

During arbitration proceedings initiated by the DPC after the repudiation of Dabhol phase-I by the previous Shiv Sena-BJP government in 1995, a non-Indian arbitrator, Mr Kumara Swami was appointed as an arbitrator after a suggestion by a senior counsel Fali Nariman. State government sources told The Financial Express that it would write a letter to the DPC regarding arbitration proceedings after Monday's meetings. The state advocate general Goolam Wahanwati will be suggesting a suitable arbitrator for the state and central government and MSEB.

The advocate general will also suggest solicitors and Queens Counsel, who may be engaged in London for this purpose. Incidentally, Mr Prabhu, who was present at the "janata darbar" organised by the Thane branch of Shiv Sena, told reporters that the Centre would provide necessary assistance to the Maharashtra government to find a solution to the Dabhol imbroglio.Furthermore, the state government would formally appeal to the Centre to nominate its representative on the proposed committee to negotiate with the DPC in a serious bid to reduce the per unit cost and assess the possibility of sale of Dabhol power to deficit states. The government has suggested the names of Housing Finance Development Corporation chairman Deepak Parekh and former union energy secretary EAS Sarma, who were members of the Godbole energy review committee.
----------------------------------------------------------------------------------------------------------------------------------------
THE ECONOMIC TIMES, Monday, April 23, 2001
Maharashtra to set up experts panel on Enron

 IN order to resolve the imbroglio over payment crisis between the Maharashtra State Electricity Board and US energy major Enron-promoted Dabhol Power Company, Maharashtra will set up an expert committee for negotiations even as the multinational is contemplating winding up of its operations in the country. "We are now going for negotiations and will form an experts committee in which Maharashtra expects the Centre to participate," chief minister Vilasrao Deshmukh told reporters after attending a condolence meeting to pay tributes to late Nasscom president Dewang Mehta here on Sunday. "All the four parties -- namely the state, Union government, Enron and MSEB -- should come together for negotiations; otherwise it cannot be a complete exercise," he added.

Deshmukh and the MSEB team are scheduled to meet Union finance minister Yashwant Sinha and power minister Suresh Prabhu on Monday in New Delhi to discuss the stalemate and find a acceptable solution for the same. "I am meeting Sinha and Prabhu to request them to take an initiative and send representatives for the negotiations committee," he said. Deshmukh's meeting with the Centre comes at a crucial stage as DPC's lenders would be meeting in London, on the same day, to decide upon the future finances of the controversy marred 2,184-mw project in Dabhol.

Moreover, the DPC board is also scheduled to meet on April 25 in London to decide the fate of its $900 million project in Dabhol, including winding up of its operations. The meeting would discuss the topmost item on the agenda, which was to empower DPC managing director Neil McGregor to wind up operations in the country. DPC has already slapped one conciliation notice on the Centre and three arbitration notices on the state government over non-payment of dues amounting to Rs 213 crore plus interest towards the bills due for the months of December 2000 and January 2001.

Asked whether the Centre had send any feel over a possible clubbing together of the arbitration and conciliation processes, Deshmukh replied in the negative. Deshmukh said MSEB chairman Vinay Bansal along with two senior officials would attend DPC's board meeting in London. Bansal had said on Sunday that MSEB would present its case concerning the Rs 401-crore penalty that the loss-making board slapped on DPC on February 28, for not generating required power within the stipulated time as per the PPA. Currently, Enron India holds 65 per cent in the $900-million DPC project, which includes MSEB's 15 per cent, while General Electric and Bechtel hold 10 per cent each. (PTI)
----------------------------------------------------------------------------------------------------------------------------------------THE ECONOMIC TIMES, April 23, 2001
 'Enron is a national problem'

UNION power minister Suresh Prabhu on Sunday said the Centre would render all possible help to resolve the Enron crisis faced by Maharashtra which is "haunting the entire country". Prabhu said he would meet the state chief minister Vilasrao Deshmukh in New Delhi tomorrow to discuss stalemate over the payments due to the US energy major-promoted Dhabol Power Company by the Maharashtra State Electricity Board. Referring to Godbole committee report's finding that DPC was keen on offering MSEB's 15 per cent stake to the National Thermal Power Corporation, Prabhu said: "The Centre has not received any such proposal regarding participation of the central power utility." (PTI)
----------------------------------------------------------------------------------------------------------------------------------------AFTERNOON, April 23, 2001
CM takes Enron to Delhi today

Chief Minister Vilasrao Deshmukh will discuss the Enron imbroglio with Union Finance Minister Yashwant Sinha and Union Power Minister Suresh Prabhu in Delhi today. He will request the Centre to appoint a representative to the committee that the state government is setting up to carry on discussions and negotiations regarding the Dabhol Power Project of the US-based Enron Power Company. Today, a special meeting of representatives of all those finanicial institutions which have extended loans to the Dabhol Power Project is also being held in London. A meeting of its directors will be held on Wednesday to discuss the fate of the $900 million project which has been under a cloud ever since its inception.

Yesterday, Mr. Prabhu declared at a 'Janata Darbar' in Thane that the Centre would extend all help to solve the Enron crisis. This is in the backdrop of pending bills to the tune of Rs. 213 crore which the state fowarded to the Centre against payments for the months of December 2000 and January 2001. Confirming that there was no proposal from the state government to handover the project to the Centre, Mr. Prabhu said that the situation of the electricity boards in the country was precarious. The Centre had decided to assist Maharashtra upto Rs. 250 crore every year to improve customer services.
----------------------------------------------------------------------------------------------------------------------------------------OUTLOOK, Monday, April 23, 2001

The Real Story Of Dabhol If a judicial probe, suggested by the committee, is ordered into the Enron deal, it could embarrass three governments    RANJIT BHUSHAN

"The Committee has prima facie found infirmities in several decisions taken in respect of the Enron project at different points of time by successive governments and agencies in the Centre and state."
--Energy Review Committee headed by former home secretary Madhav Godbole

This could well be the real Enron story
A five-member high-powered committee headed by Madhav Godbole-and including former Union economic affairs secretary E.A.S. Sarma, hdfc chairman Deepak Parekh, teri chairman RajendraPachauri and Maharashtra government official Vinay Mohan Lal-has recommended a judicial probe into the entire Enron power project deal saying it signified "the utter failure of governance that seems to have characterised almost every step of the decision-making process relating to the Dabhol project". The report, which was submitted to the Maharashtra government last fortnight and has been acquired by Outlook, is severely critical of former chief minister Sharad Pawar (with the Congress then), the 13-day bjp-led Union government which reworked the deal in 1996, Shiv Sena supremo Balasaheb Thackeray and his government in Maharashtra headed by Manohar Joshi

"The utter failure of governance seems to have characterised almost every step of decision-making relating to the Dabhol project." Madhav Godbole Committee Report

An investigation, if ordered, could embarrass at least these three governments The report clearly upholds the allegations of money being paid by Enron to politicians and bureaucrats for clinching the deal. According to the committee, the deal reveals failure of governance, both at the Centre and state, and across different agencies. "It strains belief to accept that such widespread and consistent failure to execute responsibilities is purely coincidental," the report said, proposing a set of measures to be implemented if something of the project was to be retrieved. Godbole and Sarma also felt that the panel should categorically recommend the government of India to order a judicial inquiry. This was finally adopted by it. Says a Congress leader: "Enron could well become the biggest political issue in Maharashtra and put to question liberalisation, particularly in the power sector."

The proposal has already struck panic. Says ncp's Praful Patel: "If the Enron decision has at all been detrimental, it is because of the haste with which phase 2 was cleared by the Shiv Sena-bjp government. Now with the state having already entered into an agreement with Enron, the important thing is to resolve it amicably. A judicial inquiry will be an eyewash because it's not an issue of corruption but that of perception."

Pro-market Congressmen privately admit that it was their governments at the Centre and the state which invited Enron, even though the second phase was cleared by the bjp-Shiv Sena combine. Says Congress spokesperson Jaipal Reddy: "Right now we're too involved with the Parliament deadlock  over Tehelka." Pro-liberalisation Congress MPs also fear that such witch-hunting could send wrong signals to foreign investors. Non-Congress MPs from Maharashtra, meanwhile, claim that the Godbole Committee was instituted with the express purpose of politicising the Enron issue. "I think I know Vilasrao Deshmukh's gameplan," says an MP from the state. But some MPs like Congress' Prithviraj Chavan question the cloak of secrecy that's surrounded the deal: "I've maintained for long that there should be a judicial committee to examine this".

The committee report also says that had the Enron project been subjected to a techno-economic appraisal, as envisaged under provisions of the Electricity supply Act of 1948 and related legislations, the infirmities could have been avoided.Since this wasn't done, questions about a concerted effort towards exercising undue influence at every stage of the project are bound to arise, the exhaustive 93-page report points out.

"I'd highlight the speed with which the 13-day Vajpayee government cleared the project minutes before it quit," says Congress MP Prithviraj Chavan.

The Enron project had been held out as an exemplar of the impending liberalisation in the early '90s and, despite several controversies, is now an established power project at Dabhol, 150 km south of Mumbai. In July 1992, Enron signed an MoU with the Maharashtra State Electricity Board (mseb) to set up a 2,550 MW station as part of the government's 'fast track' projects.

Subsequently, when the Shiv-Sena-bjp came to power in Maharashtra it filed a writ against the project. This curiously led to renegotiations with Enron. The committee has quoted a Bombay High Court order on the renegotiated deal.  "Once it (GoM) decided to revive the project, it acted in the very same manner its predecessors in office had done. It forgot all about competitive bidding and transparency. The speed with which the negotiating group studied the project and made its proposal for renegotiatons, which was accepted by Dabhol, is unprecedented." Says Chavan: "I would particularly like to highlight the speed with which the 13-day Vajpayee government at Centre endorsed the renegotiated project minutes before it resigned."

Since the commissioning of the plant in May 1999, the mseb has paid Rs 1,607 crore for the power it has bought from Dabhol. If the same watttage of power had been bought from Indian-built power plants fired by indigenous coal, the payment would have been approximately Rs 736 crore. In the first year-and-a-half of its operation itself, the dpc had drained the Maharashtra exchequer of nearly Rs 1,000 crore.

The Central Electricity Authority (cea), in fact, pointed out that the Dabhol plant was not the least costly option. The mseb had other inexpensive alternatives like the four units of Kaparkheda, but they were in a preliminary stage. The report notes: "...if the mseb had made efforts to seriously pursue these projects, they might not have remained in their preliminary stages". It adds that the members were of the opinion that "the mseb and the Maharashtra government erred seriously, based on information available at that time, in proceeding with the dpc as a base-load factor even when its capacity was reduced." The failure seems to have been compounded by the laxity of the Union power ministry, finance ministry and the cea. It quotes the cea as saying that since the Union finance ministry found the tariff reasonable, no further examination was required

Strangely, Bal Thackeray's Shiv Sena, when it came to power together with the BJP in Maharashtra, filed a writ in the court and then renegotiated the deal.

After the new Shiv Sena-bjp government took over, its CM, Manohar Joshi, appointed a renegotiating committee in 1996 which made the right noises, actually managing to reduce the tariff. But certain things remained inexplicable. No fresh clearances were required from the cea, which also said that "since no cost increase was involved...fresh formal clearance wasn't necessary." Says the committee: "This only adds strength to the suspicion that the cea didn't consider the economic aspects of the project at all. Indeed, given the non-availability of any official record of the meeting on June 24, 1994, with the Committee and the nature of this letter dated December 23, 1994, the Committee is doubtful whether the economic aspects of dpc were discussed at all.''

The credibility of the Shiv Sena-bjp government has been seriously questioned. "The Committee finds it unexplicable (sic) why there was no mention of any reduction in capital cost of the project from $2,828 million to $2,501 million as agreed by dpc in the summary report of the renegotiating committee," the panel observes.Says lawyer Prashant Bhushan: "It is strange that the Shiv Sena-bjp government first filed a writ in the court and then coolly renegotiated the deal." The committee further spells out the losses incurred through the deal. "Subsequent to the commissioning of the dpc, the financial deterioration of mseb has been rapid. While the mseb was in profit in 1998-99, it plunged into huge losses of Rs 1681 crore in 1999-2000."

Significantly, the World Bank in 1993 had predicted the system's inherent weaknesses. In a letter written to the then power secretary, R. Vasudevan, a top bank official had said that "after a detailed review of the analytical framework and costing assumptions, we reconfirm our earlier conclusion that the Dabhol project, as presently formulated, is not economically justified" and that in "our assessment the project is too large to enter the mseb system in 1998. The proposed base-load operation could result in uneconomic plant dispatch, as already existing lower variable cost coal power would be replaced by the higher cost lng power."

Enron's persistence and the 'gullibility' of the Indian side can be gauged from high-ranking Enron official Joe Sutton's letter to a key Indian official, Ajit Nimbalkar: "I recently met with the World Bank and have been following the articles in the India papers. I feel that the World Bank opinion can be changed. We'll engage a PR firm and hopefully manage the media from here on. The project has solid support from all other agencies in Washington."

The key question in the Enron deal is whether a developed state like Maharashtra needs outside intervention in the power sector at all? For the first time the Godbole committee has raised objections about the viability of such a project. According to the report, the mseb has been one of the better performing boards in the country and has, despite a faulty transmission and distribution (T and D) system, managed to consistently earn net revenue surpluses on an accrual basis.

Maharashtra accounts for nearly one-fourth of the gross value of India's industrial sector. It's one of the few states to achieve 100 per cent electrification. Since '95, the mseb has been adding to its generation. "This improvement, which has been largely due to renovation and modernisation undertaken by the mseb, exceeded its own expectations at a time when the dpc was being considered," the report points out. Following a policy of cross-subsidy, roughly nine out of its ten users are subsidised.

But the gap between the average cost of supply and average realisation hasn't been much. In fact, the subsidy claim decreased from Rs 630 crore in 1995-96 to Rs 355 crore in 1998-99, until in 1999-2000 it increased nearly five-fold to Rs 2,084 crore due to the sudden increase in the gap by 26 paise per unit-from 15 to 41 paise-an increase of 173 per cent. "The increase in the subsidy claim by Rs 1,729 crore is due to the increase in the gap principally because of the increase in power purchase costs," says the committee, adding: "Without the dpc and without problems of T and D loss, the mseb could be financially healthy."

But can that happen now since Enron is here to stay? The committee has come up with some far-reaching recommendations: make public all Dabhol-related documents and agreements, restructure the Dabhol project itself to bring down the cost of power, restructure dpc financially, allow sale of dpc power outside Maharashtra, re-examine ppas in accordance with least-cost plans, and thoroughly reform the mseb.The committee know this can become reality only with political consensus and through forming of public opinion. The question is, can that be achieved in an unstable political environment?

With Priya Sahgal

Making Of A Scam

?	1992: Centre invites Enron to set up 'fast track' power project
?	Dec 1993: First PPA signed with MSEB
?	1994: Enron starts construction
?	1995: Sena-BJP govt scraps Enron
?	1996: State govt renegotiates project
?	1996: 13-day Vajpayee govt approves counter-guarantee
?	May 1996: State cabinet clears PPA
?	May 13, 1999: Phase I commissioned
?	Jul 1999: Financial closure for Phase II
?	Oct 2000: MSEB defaults on payment, subsequently stops paying monthly bills
?	Feb 6, 2001: Enron invokes Central government's counter-guarantee
----------------------------------------------------------------------------------------------------------------------------------------BUSINESS STANDARD, Monday, April 23, 2001
MSEB revenue collections up at Rs 968 crore in March , Renni Abraham

The Maharashtra State Electricity Board's (MSEB) revenue collections in March 2001 stood at a record Rs 968 crore. This was largely due to the disconnection drive on defaulter connections -- pegged at nearly 20,000 disconnections a month -- which resulted in compliance by consumers. With the Dabhol Power Company (DPC) monthly financial burden issue now a topic of discussion among arbitrators on the negotiating table, the MSEB has turned to putting its house in order.

As if to ward of any criticism of its fiscal condition that could be termed as the facilitator to the entire DPC tariff crisis, the state electricity board has put matters relating to its performance on record. For instance, MSEB has recorded the highest power generation in the year ended March 31, 2001, at 45930 units, compared with the previous year's 45582 units, making it the top SEB of the country in this respect. Similarly its power stations recorded the highest availability percentage at 86.1 up from 84.6 per cent last fiscal. Plant load factor is up to 72.78 per cent, compared with 71.7 per cent in 2000.

The Parli power station has recorded the highest ever generation in the ten years of its life time in 2000 at 4545 million units, which made it eligible for the meritorious productivity award under the eligibility guidelines issued by the Government of India carrying a cash award of Rs 12.5 lakh. All other power stations in the state, without exception, also fulfill the eligibility criteria for the cash award, a senior MSEB official said. Similarly, the Chandrapur power station became the first power station of any state electricity board to get the ISO 9002 certification.

A senior MSEB official said: "Earlier MSEB was suffering from too much interference in its day to day functioning. The agriculturists were touted as the major reason for its deteriorating accruals, while theft of electricity during the transmission and distribution stage was conveniently camouflaged under this head. In the recent past, the government has authorised MSEB to take steps to curb this misuse of power by its own officials, many of whom, including a chief engineer have suffered suspensions


Tana - Do we have NDAs in place with the following companies that would cover
discussions with them concerning wireless connectivity for EnronOnline?

Agent Go
Aether Systems
JP Systems
Luminant
Lante
Outercurve
Tibco


hey, do you have extra tickets to the colorado game.
How did you dad fare in the fire.


Your talk is cheap.  I sat next to your Dad all day yesterday at the KMI investor conference.  We had a good chat.  Talk to you soon.
Ben

 -----Original Message-----
From: 	Andrew Slocum <AndrewS@calpine.com>@ENRON
Sent:	Thursday, January 17, 2002 9:56 AM
To:	Rogers, Benjamin
Subject:	Tennis Sunday?

After church, after lunch/brunch, you are going down!   3:00.


Thank you!!

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Wednesday, November 28, 2001 9:13 AM
To:	Balfour-Flanagan, Cyndie
Cc:	Wallumrod, Ellen
Subject:	RE: Special Language for ENA Upstream GTCs: Pymt Due Date = 25th

The language looks fine to me.

 -----Original Message-----
From: 	Balfour-Flanagan, Cyndie
Sent:	Tuesday, November 27, 2001 4:43 PM
To:	Nemec, Gerald; Wallumrod, Ellen
Cc:	Richardson, Stacey
Subject:	Special Language for ENA Upstream GTCs: Pymt Due Date = 25th
Importance:	High

Gerald/Ellen

Please review & edit as necessary. If possible, once "buffed to a shine", I'd like to be able to insert this language into the GTC Confirm template above Notice information. This particular scenario is for Unimark LLC (deal #1146397).

Language Take 1:

Payment Terms:  As hereto agreed, payment by Buyer to Seller for gas received by Buyer during the preceding calendar month shall be made payable by wire transfer on the 25th Day of the Month following delivery. If the due date for any payment to be made under this Agreement is not a Business Day, the due date for such payment shall be the following Business Day.

Please let me know as soon as possible as this is a Nov Production deal that has not yet been confirm & also due to the prior conversations Settlements, Judy, Lisa & Contracts has had with the CP.

Thank you!!!
Cyndie


Further to your previous e-mail to Grant Oh re: long description of Canadian
tokenized periods, please see the attached memo from Greg Johnston of our
Legal Department.

Linda


I'll do it.  I saw Steve Reynolds (the govs assistant), today, and told him I
would do it.  I have a lot of respect for Geringer.  I may try to persuade
them that they should reach out to FERC and Congress as a state that sees the
need for a federal role in transmiission and encourages FERC to act.  Any
background you have would be most appreciated.

From: Susan M Landwehr on 05/20/2001 09:35 PM
To: Steven J Kean/NA/Enron@Enron
cc: Richard Shapiro/NA/Enron@Enron

Subject: Re: Gov Geringer meeting

Steve--unfortunately, I really do need you to do this one.

	Steven J Kean
	05/17/2001 12:04 PM

		 To: Susan M Landwehr/NA/Enron@Enron
		 cc:
		 Subject: Re: Gov Geringer meeting

I'd prefer to skip.  How big of a problem would that be?

From: Susan M Landwehr on 05/14/2001 03:09 PM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron
cc: Maureen McVicker/NA/Enron@Enron, Ginger Dernehl/NA/Enron@Enron, Paul
Kaufman/PDX/ECT@ECT

Subject: Gov Geringer meeting

Steve/RIck ---as you may be aware, Governor Geringer personally asked Ken Lay
to come to the kick off meeting of the Wyoming Energy Task Force, a group
that was created by legislative mandate last month.  The meeting is on May
30th in Cheyenne.  Mr. Lay told the Governor that he would not be able to
make it on that date, but promised that a senior Enron exectutive would be
there.  I spoke with Governor Geringer's staff person again this past week
and was hoping that Paul Kaufman could be the senior executive, but no such
luck (unless you give Paul a huge new title!).

In talking with Maureen I understand that you have a previous conflict Steve,
but I am hoping that you can review your calendar to see if you could make an
adjustment in order to meet the request of the Governor.  Your speech would
be in the morning--I've been told about 9 o clock or so---which would allow
for you to leave by noonish.

I


Krishna,

Do you mean the /Research/Exotica/xll directory? Is the exotica1.xll addin the same as the exotica.xll addin?

Paul

 -----Original Message-----
From: 	Krishnarao, Pinnamaneni
Sent:	Wednesday, October 17, 2001 2:50 PM
To:	Y'Barbo, Paul
Subject:	RE: Spread Data

Here is what we had done for Kim before. In the PGE_Permian.xls file, the option values are in cells starting M30. In Excel, you need to load the exotica.xll addin which is in /Research/Exotica directory on your common drive. Load the addin and say NO to "copy to your local drive?" Also, see the "Results" sheet for volatility and correlation calculations.

Krishna.
 << File: PGE_PERMIAN.xls >>  << File: SOCAL_PERMIAN.xls >>

 -----Original Message-----
From: 	Y'Barbo, Paul
Sent:	Wednesday, October 17, 2001 2:32 PM
To:	Krishnarao, Pinnamaneni
Subject:	Spread Data

Krishna,

Please see attached data on the pages named "MO IND DATA" and "Basis Forwards". I am interested in understanding the math associated with valuing calls and puts on the spread between the index points. Also, do you have an option pricing model that I could have? My office number is 5-4173.

Thanks,

Paul

P.S. Do you recall the work that you did for Kim Watson in the past?

 << File: NAT GAS Prices GRAPH.xls >>


509402.  Can you see if this is the correct CP.  We don't have a contract
with them.  If it is correct, that's fine, just let me know.


Susan,

The NG-PRICE-PRC book will now be calculated using two post ids.  Therefore,
we need an additional RisktRAC book id for the Price book so that we can
capture both post ids.  Please set up an NG-PRICE2-PRC book with the same
attributes as the NG-PRICE-PRC book.  The new books needs to be added to the
AGG-GAS, AGG-GASIII and AGG-GASIV portfolios.  In AGGIII and IV, please set
up a separate portfolio for the new book.  The new portfolio should be named
M_Maggi.

If you have any questions, give me a call.
Thanks,
Robin


OK gang,

Here is a draft of the memo.  I extended my analysis to try and quantify
limiting conditions for partners on a and x.  The problem is that with my
estimates even using the lower limits the deal will never be profitable for
BF Goodrich.  Please check my math, I know I must have made an error.

Anyway, I hope that we can possibly talk about it at break tomorrow.

Dylan

 - BF Good Memo 0311.doc
 - BF Good Exhibits.xls


Here is the Desk Analysis - breakdown of 2000 10 DPR by desk.

Thanks again,
Amy
ext 39741


Please do not reply to this e-mail.

You are receiving this message because you have an unresolved invoice in your iBuyit Payables in-box
that is past due.  Please login to iBuyit Payables and resolve this invoice as soon as possible.

To launch iBuyit Payables, click on the link below:
http://iBuyitPayables.enron.com
Note:  Your iBuyit Payables User ID and Password are your eHRonline/SAP Personnel ID and Password.

First time iBuyit Payables user?  For training materials, click on the link below:
http://sap.enron.com/sap_doclib/user/file_list.asp?cabinet_id=265

Need help?
Please contact the ISC Call Center at (713) 345-4727.


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 08/09/2000
02:11 PM ---------------------------

	Enron North America Corp.

	From:  Colleen Sullivan                           08/09/2000 10:11 AM

To: Keith Holst/HOU/ECT@ect, Andrew H Lewis/HOU/ECT@ECT, Fletcher J
Sturm/HOU/ECT@ECT, Larry May/Corp/Enron@Enron, Kate Fraser/HOU/ECT@ECT, Zimin
Lu/HOU/ECT@ECT, Greg Couch/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron,
Sandra F Brawner/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Hunter S
Shively/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT,
Thomas A Martin/HOU/ECT@ECT, Steve Jackson/HOU/ECT@ECT
cc: Julie A Gomez/HOU/ECT@ECT, Stephanie Miller/Corp/Enron@ENRON
Subject: TRANSPORTATION MODEL

Please plan to attend a meeting on Friday, August 11 at 11:15 a.m. in 30C1 to
discuss the transportation model.  Now that we have had several traders
managing transportation positions for several months, I would like to discuss
any issues you have with the way the model works.   I have asked Zimin Lu
(Research), Mark Breese and John Griffith (Structuring) to attend so they
will be available to answer any technical questions.   The point of this
meeting is to get all issues out in the open and make sure everyone is
comfortable with using the model and position manager, and to make sure those
who are managing the books believe in the model's results.   Since I have
heard a few concerns, I hope you will take advantage of this opportunity to
discuss them.

Please let me know if you are unable to attend.


Vacation, Friday, November 9.

 -----Original Message-----
From: 	Campos, Kathy
Sent:	Tuesday, November 13, 2001 4:39 PM
To:	Daily, Pamela; Tu, Denis; Lipuscek, Joan; Botello, Mary; Geaccone, Tracy; Kleb, Steve; Weitekamp, James; Lin, Judy; Rosenberg, David E.; Schroeder, Maggie; Moore, Jan
Subject:	 Exceptions

Please forward exceptions for November 1 - 15, 2001 pay period.

Thank You,
Kathy


Negotiations between Governor Davis and California utilities may be faltering:

Negotiations between Governor Gray Davis and California's three major utilities appear to be taking a significant turn.  Sources report that the proposal by Governor Davis that was splashed in the press this morning is reported to have been rejected by PG&E, and SoCal Ed.  The proposal to purchase debt ridden utilities' transmission lines was outlined in SB33x

The Governor is expected to revise SB33X and approach the utilities with the following new terms:

		1)  Raise the states transmission pruchase bid from $3.5 billion to roughly $6 billion

		2)  Finance a $9 to $12 billion payment for the utilities' under-collected debt to generators

		3)   Allow the utilities to issue 15 year bonds to repay the state, resulting in surcharges on consumer utility bills.

Consumer groups led by Harvey Rosenfield could provide strong opposition to Davis' plan and it is possible Rosenfield could launch a referendum to kill the bill.

Davis is scheduled to give a press conference today and 2:00 pm (Pac. Time) to comment on negotiations.


Dan, sounds like we are moving backwards - but these guys tend to jump the
gun at times.  If it is not possible for these orgs to work together lets not
try and force them (ie) we will manage our own business and contract with
NEPCO when and if it makes sense.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/01/2001
08:22 AM ---------------------------

Brian Redmond
01/31/2001 05:56 PM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Re: Reviews Plus

Dave,

Yes,  I've got these set up.

On a separate topic, I received a visit from D. Liebert (working for Dan L.
on EE&CC) to discuss the memo I sent out on the Tech Services Group.
During the discussion we identified several areas where EES' view diverges
from the view in my memo that ENA will manage its own technical risk and will
be supported by EE&CC.      Currently, EES is headed in the following
direction:

1. EE&CC will manage all technical risk in Enron as part of a consolidated
technical risk book.
2. EE&CC will be the sign off on all DASH's with respect to technical risk.
3. EE&CC is still trying to work out how their services will be charged to
the business units - not sure what "cost" is.

This central decision is (1.) above.  If EES is going to manage ENA's
technical risk then the balance between managing engineering cost and
managing technical risk will be eliminated.  Essentially we will be back to a
ENA (origination) vs. EE&CC (construction) relationship where we argue about
how much money they are spending and the amount of overhead that is included
in their "cost".  Your thoughts on this?

We didn't draw any lines and agreed to keep discussing to make this work.  I
would suggest that either I can meet with Dan L. to understand his views or
that we have another joint meeting with you and Dan's team to resolve.

Regards,
Brian

David W Delainey
01/31/2001 03:11 PM
To: Brian Redmond/HOU/ECT@ECT
cc:
Subject: Reviews

Brian, I assume that you are doing the review for Bob Virgo, Wayne Mays, Jean
Mrha and Julie Gomez.

Regards
Delainey


FYI - I adjusted the tickets to reflect the volumes below.

Mary
---------------------- Forwarded by Mary Poorman/NA/Enron on 01/02/2001 09:40
AM ---------------------------

"Shankster JL (Luther)" <JLShankster@equiva.com> on 01/02/2001 08:47:36 AM
To: "'Mary.Poorman@enron.com'" <Mary.Poorman@enron.com>
cc: "'Lamphier, Gary'" <glamphi@enron.com>

Subject: RE: January Nominations at Shell Deer Park

Mary,

We have a 90,000 MMBtu/d first of the month nomination against our term
baseload contract and a 20,000 MMBtu/d spot swing contract for January. I
assume that the 105,000 MMBtu/d demand request would be allocated 90,000
MMBtu/d against the baseload contract and 15,000 MMBtu/d against the spot
swing contract.

> J. Luther Shankster
>
> Energy & Utilities Planning
> Phone: 713/277-9307
> Fax: 713/277-9941
> E-Mail: jlshankster@equiva.com
> Home Page: http://rsweb
>


---------------------- Forwarded by Phillip M Love/HOU/ECT on 12/01/2000
10:17 AM ---------------------------

From:  Bryan Hull
12/01/2000 10:10 AM

To: Lorraine Becker/HOU/ECT@ECT, Harry Bucalo/HOU/ECT@ECT, Beth
Cowan/NA/Enron@Enron, Jennifer McQuade/NA/Enron@Enron, Teresa
Mandola/Corp/Enron@Enron, George Hope/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT,
Michael Walters/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Timothy
Blanchard/HOU/EES@EES, Matthew Lenhart/HOU/ECT@ECT, Lisa
Gillette/HOU/ECT@ECT, Adriane Moratto/NA/Enron@Enron
cc:
Subject: Fw: Fw: Bon weekend!

MAKE SURE YOU TURN UP YOUR MUSIC..
>
>
 - DANCEOFF.exe


---------------------- Forwarded by Eric Bass/HOU/ECT on 10/09/2000 01:38 PM
---------------------------

Brian Hoskins@ENRON COMMUNICATIONS
10/09/2000 01:28 PM
To: Eric Bass/HOU/ECT@ECT, Hector Campos/HOU/ECT@ECT, Lenine
Jeganathan/HOU/ECT@ECT, Luis Mena/NA/Enron@Enron, Hector Campos/HOU/ECT@ECT,
John House/HOU/ECT@ECT, Eric Mason/Enron Communications@Enron Communications
cc:
Subject: Albert's Lies

----- Forwarded by Brian Hoskins/Enron Communications on 10/09/00 01:35 PM
-----

	Kori Loibl@ECT
	10/09/00 01:27 PM

		 To: Sherry Dawson/NA/Enron@Enron, Stephanie Sever/HOU/ECT@ECT, Alicia
Perkins/HOU/EES@EES, Purvi Patel/HOU/ECT@ECT, Sheetal Patel/HOU/ECT@ECT,
Errol McLaughlin/Corp/Enron@ENRON, Crystal Hyde/HOU/ECT@ECT, Tobin
Carlson/HOU/ECT@ECT, Jackson Logan/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT,
Lucy Ortiz/HOU/ECT@ECT, Mark Smith/Corp/Enron@Enron, Ross
Prevatt/HOU/ECT@ECT, Brian Hoskins/Enron Communications@Enron Communications
		 cc:
		 Subject: Albert's Lies

---------------------- Forwarded by Kori Loibl/HOU/ECT on 10/09/2000 01:23 PM
---------------------------

Don Baughman
10/09/2000 11:38 AM
To: TBanks@cbrichardellis.com, travieso74@hotmail.com, cjwilson@lcc.net,
blbond@lcc.net,  jebert@eadslink.com, lholcomb@ptsi.net, mel@myweb.net,
ejkorth@flash.net, akorth96@yahoo.com, jkuehler@wecon.com,
lenamonj@us.cibc.com, twomarshalls@hotmail.com, baughmanpatricia@hotmail.com,
jason.d.moore@carrier.utc.com, Michael_J_Newman@reliantenergy.com,
david_nobles@ewingcc.com, stdfmn@shsu.edu, edwino@baseline.com,
rpearson@oilstates.com, patpol@aol.com,
Kenneth.D.Schall@US.arthurandersen.com, scottsmith@masterword.com,
Souto@stthom.edu, reidstav@houston.rr.com, mstewart@pdq.net,
stichavsky@pct-inc.com, shannontyer@email.msn.com, Evanv@msn.com,
andrea.p.williams@us.pwcglobal.com, c.wilson@mail.utexas.edu,
stewart@mallia.com, chadpol@aol.com, Joaquin Oliveras/HOU/EES@EES,
tswick@lcc.net, don.c.baughman@marshmc.com, seanpat@flash.net, Larry Joe
Hunter/HOU/ECT@ECT, MTHIEM@COATSROSE.COM, o_briandave@hotmail.com,
adamon@dttus.com, gsnapka@pdq.net, Lucy Ortiz/HOU/ECT@ECT, Wayne
Kimball/HOU/EES@EES, Kori Loibl/HOU/ECT@ECT, Michael Nguyen/HOU/ECT@ECT,
sdelaro@brazosport.cc.tx.us,  j.purdom@worldnet.att.net,
drkubala@thompson-grp.com, Matt_Doggett@dell.com, Jay Wills/Corp/Enron@ENRON,
Wayne Herndon/Corp/Enron@ENRON, Richard Hrabal/HOU/ECT@ect, John
Kinser/HOU/ECT@ECT, Patrick Hanse/HOU/ECT@ECT, Rudy Acevedo/HOU/ECT@ECT,
Cyril Price/HOU/ECT@ECT, ktracey111@aol.com, Kayne Coulter/HOU/ECT@ECT, Larry
Jester/Corp/Enron@ENRON, Dean Laurent/HOU/ECT@ECT, Jeff
King/Corp/Enron@Enron, batoggero@yahoo.com, Jeff King/Corp/Enron@Enron, Jason
Choate/Corp/Enron@ENRON, lstavinoha@themedlehgroup.com, Keller
Mayeaux/Corp/Enron@Enron, Joe Stepenovitch/Corp/Enron@Enron, Dragcraps@aol.com
cc:
Subject: Albert's Lies

   FICTION: Al Gore recently claimed that his mother-in-law pays more than
>   $100.00 for the arthritis medicine Lodine; and he claims that his dog
>   takes the same medicine for $37.00, claiming "This is wrong!"
>   FACT: Gore's aides were quick to apologize for Gore's lie, saying the
>   information was from a  Democratic study. Washington newspapers also
>   reported that Al Gore wasn't  even sure his mother-in-law was taking any
>   medication and wasn't even sure  she  had  arthritis.  And,  he  doesn't
>   know  anything  about  his dog's  "arthritis".
>
>   FICTION: Al Gore said his father, a senator, was a champion of civil
rights
>   during the 1960's.
>   FACT:  Gore's father voted against the landmark Civil Rights Act of1964
>   and  was  a racist who was fond of using the "N" word. The Gore family
>   had an  African  American  nanny  who  they made wait in the car while
>   they ate at  "Whites Only"  Restaurants.
>
>   FICTION: Al Gore said that his sister was the very first person to join
>   the Peace Corps.
>   FACT: By the time Gore's sister joined the Peace Corps, there were
>   already over 100 members.
>
>   FICTION: The same sister died of lung cancer years later and Gore vowed
>   to never accept tobacco money as campaign contributions.
>   FACT:  Just four years later, while campaigning for office, Gore spoke
>   to the  tobacco  industry in Greenville North Carolina and said he was
one
>   of them because  "I've planted it, raised it, cut it, and dried it." He
> raised
>   over $100,000  in "reported" contributions.  His Sister died in 1984 He
did
>   not stop accepting campaign  funding  from Tobacco Company's until 1996.
>
>   FICTION: While running for office, Gore's campaign literature claimed he
>   was a "Brilliant Student".
>   FACT: Washington newspapers said he barely passed Harvard and
>   consistently  earned D's and C's.
>
>   FICTION: Gore claims an extensive knowledge of law as a result of his
>   extensive study at law school.
>   FACT: Al Gore dropped out of law school.
>
>   FICTION: Gore claimed that his knowledge of God and spirituality came
>   to complete fruition while "finishing" divinity school.
>   FACT:  Al Gore dropped out of divinity school.
>
>   FICTION: Al Gore claimed responsibility for inventing the Internet in
>   the 1990's.
>   FACT : Shocked scientists were quick to speak out, explaining that the
>   Internet had been in widespread use by government and educational
>   institutions since the early 1970's.
>
>   FICTION: Al Gore claimed the book "Love Story" was based on his life and
>   Tipper's.
>   FACT: Author Erich Segal called a press conference to deny his claim.
>   Couldn't he at least lie about a love story where his sweetheart doesn't
>   die?"
>
>   FICTION : Gore claimed that as a reporter for a Nashville newspaper,
>   his stories led to the arrests of numerous corrupt criminals.
>   FACT: He later apologized for his claim and actually said it was untrue
>   (Also known as lying).
>
>   FICTION: Gore claims to increase diversity in the staff that follows
>   him daily, especially among blacks.
>   FACT:  Black members of the Secret Service are suing because they claim
>   they are not being promoted to positions guarding the Vice-President.
>
>   FICTION: Al Gore said he was the first to discover the Love Canal
nuclear
>   accident.
>   FACT: The incident was already discovered, being investigated, and
>   covered widely in the press for many months before Gore was aware of it.
>
>   FICTION: Gore said just recently that if elected president, he would put
>   harsh sanctions on the sleazy producers of Hollywood's extreme sex and
>   violence.
>   FACT:  Just six days later, Gore attended a fundraiser by Hollywood
>   producers and radical gay activists where he told them that he would
>   only pretend to "nudge them" if elected. He raised over $4 million.
>
>   FICTION: Al Gore said he built his Tennessee home with his bare hands.
>   FACT : Totally false!
>
>   FICTION: Al Gore says parents should not have a choice between private
>   and  public schools because public schools are far better.
>   TRUTH : Al Gore attended private school and he has sent his children to
>   private schools.
>
>   FICTION: Al Gore remembers his mother lulling him to sleep as a baby by
>   singing the popular ditty, "Wear The Union Label".
>   FACT: The popular ditty was created by the unions when Gore was 27
>   years  old.
>
>   FICTION: Al Gore claimed to co-sponsor the McCain-Feingold Campaign
>   Reform  Act.
>   FACT:  The Act was not sponsored until he had been out of office for
>   over a year.
>
>   FICTION: Al Gore claims to be instrumental in keeping gas prices low.
>   FACT: Gore has voted on numerous occasions to raise the tax on
>   gasoline.   In his book "Earth In The Balance" Gore claims that the
>   nation's Number One enemy is the internal combustion engine.
>   (That's the motor in your vehicle that gets you to work and takes
>   your kids to school)
>
>   FICTION: Gore pretends to champion the rights of poor women to be
>   tested regularly for breast cancer with the most modern technology.
>   FACT: While giving a speech on the subject in September, Gore didn't
>   know what a mammogram was.
>
>   FICTION: AL Gore promised Florida's senior citizens that they would
>   finally have low-cost drugs with no interference from government.
>   FACT: Gore's plan calls for the creation of a huge federal agency that
>   would tell you which doctor you  are allowed to see in order to get the
>   "special rates".
>
>   FACT: Al Gore told NBC's Lisa Meyers that he had never told a lie. When
>   Meyers pressed harder, "You've never told a lie?!" Gore said, "Not that
I
>   know of." SOUND FAMILIAR?
>
>   Election Day is ticking away. E-mail this to as many people as possible
>   or we could be living in an Al Gore fantasyland.
>
>


Rebecca, How is this going?

Topics to be covered in the Texas Intrastate White Paper:

1.   Current state of the Texas Intrastate Market
2.	Areas for improvement
3.	Proposed future state of the Texas Intrastate Market
4.	Strategy for implementation
5.	Actions for implementation
6.	Appendicies:
a.	Form of transport contract
b.	Gas flows in Texas
c.	Basis price history


I changed the following deal entry errors for the $15 flat Bloomberg Broker Fee.
These deals were entered as $15/mw instead of flat.

Desk	REG_CD	DEAL_ID	FEE	TOTAL	RATE
EPMI-ST-CA	R10	683207	-6000	400	15
EPMI-ST-SW	R7	683421	-12000	800	15
EPMI-ST-WHOURLY	R10	692805	-2625	175	15
EPMI-ST-WHOURLY	R11	697919	-1800	120	15