Interesting...

(not to be forwarded)

Cameron Sellers
Vice President, Business Development
PERFECT.COM
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.858.7719 (direct dial)
650.858.1095 (fax)
650.208.9455 (cell)

-----Original Message-----
From:  Kevin Surace
Sent: Thursday, May 11, 2000 9:10 AM
To: A - Execs
Cc: Marc Porat
Subject: T2P not B2B
Importance: High

Exec's,

I thought I'd pass along 2 letters I received from Angel Investors (one of
our 1st investors). Pls read them below.
Although we are in great shape as we have money and have implimentde the
recommendations, I thought it would be good for you to see the mood of the
market out there.
funding has dried up everywhere. Four companies I know of have died in the
last 2 weeks....with hundreds more to come.
The IPO window is dead closed....may not open for 12 months or longer.
This remonds me of 1991, when former CEO's were painting houses to put food
on their table. The fed may yet again raise rates, which will slow down the
economy even more.
Our goal is to weather the storm, and attain profitability as fast as
possible. Our new thoughts daily should be about T2P....time to
profitability. Every hire, every show, every document...should be reviewed
in your mind as to whether or not by doing it...we will lessen our Time to
Profitability.
If we all start thinking and judging ourselves, our actions, and our staff
in this way, we might just get there alot sooner.
Thx,
Kevin

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

Angel Investors wants to "touch base" with it's CEO's again; given the
continued uncertainty in the capital markets.

As the market turmoil continues, we must underscore the advice that we have
provided since mid April and it boils down to just a few points:

1) The capital market window is shut, including IPO's and VC Funding
(VC's are looking at their existing portfolio funding needs - - not new
opportunities).  Basically the market is now looking for PtoP (Path to
Profitability) instead of BtoC, BtoB, etc!  PtoE will prevail price to
sales ratios!  You must lower your "burn rate" to raise at least 3-6 months
more of funding via cost reductions, even if it means selective staff
reductions and reduced marketing and G&A expenses.  This is the equivalent
to "raising an internal round" through cost reductions to buy you more time
until you need to raise money again; hopefully when fund raising is more
feasible.

2) If you have $10M or less in the bank you must do #1 above plus look
at
M&A options for your company; especially if your company is in BtoC,
content, advertising model, community, commerce, and even some BtoB.  An M&A
transaction will allow you to gain critical mass and get two sets of
funding sources and rolodex's working on your behalf.  M&A transactions
take over 90 days so you need at least that much cash to fund your company.
You must attend our M&A day on May 24th at the San Mateo Marriott at 3:00
PM.  We will have investment banks there in addition to entrepreneurs who
have successfully accomplished M&A transactions.  We will send you details.

We are still developing many new funding sources for our portfolio
companies that are in a funding cycle.

FYI, I've attached the email I sent on April 17, 2000 for you to re-read
and implement.

Ron Conway
General Partner
Angel Investors, LP

Ron Conway
04/18/2000 06:12 PM

To: Angel Investors, L.P. Portfolio CEO's
Date: 04/17/2000   05:24 PM
From: Ron Conway
RE: Market Conditions Effect on Angel Investors, L.P. Portfolio
Companies

The down-draft in the stock market sends us some obvious "signals" and we
can't help but mention them.

1. If you are in a funding cycle, you should raise your funding as soon
as
possible and raise as much as possible.
2. Many companies are ignoring certain VC leads we've provided in order
to
concentrate on the top tier only.  While we have preached that in the past,
this is no longer the case.  Currently, top-tier VC bandwidth constraints -
coupled with the market down-draft - makes it very important to take
meetings with any VCs where you can get their attention.  We have been
working hard to open up this new bandwidth.

3. You must aggressively examine and pursue M&A opportunities (unless
you
have over 12 months of cash reserves!) to insure you have critical mass
(including funding, customers, rolodex power, market share, cash, synergy,
etc.).

4. Be realistic on valuations - - they will fall so be ready and
willing
to co-operate.
5. Look for corporate partners to invest so you can raise more money.
You
should also consider a sale of your company to your corporate partners.
6. If you are entering a funding cycle start raising money sooner
rather
than later.
7. While it's safe to say entrepreneurs have had negotiating leverage
with the "down-draft" in the market, the VC community will start exercising
their leverage.


-----Original Message-----
From: 	Wilson, Shona
Sent:	Wednesday, January 30, 2002 1:20 PM
To:	'scott.underberg@ey.com@ENRON'; ews-cct@enron.com
Cc:	Hlopak, Ed; Cindy.Ma@ey.com; lawrence.prybylski@ey.com; Daniel.Somers@ey.com; Jeff.Magill@ey.com; James.Rees@ey.com; David.Bonder@ey.com; Sweeney, Kevin; Hall, Bob M; Albrecht, Kristin; Thapar, Raj; Hall, D. Todd; Keiser, Kam; Hlopak, Ed; Gillis, Brian; Reeves, Kathy
Subject:	RE: Follow up to Jan 29 meeting

Dear Scott,

Please contact the following people to help you:

EIM, EGM - Kevin Sweeney
Gas - Bob Hall
Electricity - Kristin Albrecht
Canada gas - Brian Gillis
Canada power - Kathy Reeves

Thanks

Shona

Risk groups:

Also, I wanted to let the risk groups know that I met with E&Y yesterday and they noted some items they would like to follow up on.  I've asked them to contact you directly.  Lastly, the form A's prepared were not consistent in regards to the treatment of intercompanies.  E&Y needs the 11/30 form A's without intercompanies.  For those of you who provided Form A's with intercompanies, please break them out and send us a second form.

Thanks

 -----Original Message-----
From: 	scott.underberg@ey.com@ENRON
Sent:	Wednesday, January 30, 2002 11:50 AM
To:	Wilson, Shona; ews-cct@enron.com
Cc:	Hlopak, Ed; Cindy.Ma@ey.com; lawrence.prybylski@ey.com; Daniel.Somers@ey.com; Jeff.Magill@ey.com; James.Rees@ey.com; David.Bonder@ey.com
Subject:	Follow up to Jan 29 meeting

Shona,

Thanks for the Form A update meeting yesterday.  Here is a more formal
request for the follow-up items we mentioned.  If you could help point us
in the right direction to obtain this information, it would be appreciated.

1)We would like to review the results for a sample of queries for the Form
A's (whether these are reports generated or the output resulting from the
below queries).

Commodity:  Natural Gas

Transaction Distribution by MTM (#): >=$0mm, <$1mm
Tenor Distribution by MTM ($): >=3 years, <5 years

Commodity:  Electricity

Tenor Distribution by Transactions (#):  <1 year
Trade Type  Distribution by Transactions (#):  Forward
Trade Type Distribution by MTM ($):  Forward

Commodity:  Eastern Coal

Tenor Distribution by MTM ($):  >=5 year, <10 years

Commodity:  C3

Trade Type Distribution by MTM ($):  Swap

All queries are for both financial net and physical net values.

2)As a second follow-up, we would like a description and sample contract
of each product type (for the largest positive MTM within each category),
as defined by each commodity (this is item 8 on our comprehensive request
list)

3) A confirmation for the longest deal for each commodity (also related to
item 8 in our request list)

4)For each commodity other than power and gas (which will be outlined in
separate lists), we would like confirmations for the 10 (or all if fewer
than 10) largest (starting with highest positive MTM) transactions
regardless of termination status (this is item 21d on our comprehensive
request list)

I will try to follow-up with a visit or phone call.

Regards,
Scott

______________________________________________________________________
The information contained in this message may be privileged and
confidential and protected from disclosure.  If the reader of this message
is not the intended recipient, or an employee or agent responsible for
delivering this message to the intended recipient, you are hereby notified
that any dissemination, distribution or copying of this communication is
strictly prohibited. If you have received this communication in error,
please notify us immediately by replying to the message and deleting it
from your computer.  Thank you.  Ernst & Young LLP


Start Date: 3/2/01; HourAhead hour: 20;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030220.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 20 / Preferred:  29.00 / Final:  26.00)
  TRANS_TYPE: FINAL
  SC_ID: ARCO
  MKT_TYPE: 2
  TRANS_DATE: 3/2/01
  UNIT_ID: CARBGN_6_UNIT 1

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 20 / Preferred:  75.00 / Final:  73.57)
  TRANS_TYPE: FINAL
  SC_ID: ECTstNW
  MKT_TYPE: 2
  TRANS_DATE: 3/2/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: CISO_EPMI_3000
  ENGY_TYPE: FIRM
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 20 / Preferred:  75.00 / Final:  73.40)
  TRANS_TYPE: FINAL
  SC_ID: ECTltNW
  MKT_TYPE: 2
  TRANS_DATE: 3/2/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: CISO_EPMI_6000
  ENGY_TYPE: FIRM


FYI
---------------------- Forwarded by Mary Hain/HOU/ECT on 02/09/2001 09:43 AM
---------------------------

Murray P O'Neil
02/09/2001 08:49 AM
To: gfergus@burbeck.com
cc: Christian Yoder/HOU/ECT@ECT, Steve C Hall/PDX/ECT@ECT, Mary
Hain/HOU/ECT@ECT
Subject: November RT Market Default Invoice

Gary,

Attached you will find a November RT (Real Time)  Market Default Invoice
which was receive by EPMI from the PX this morning.

This invoice was published on the PX Settlement Web Site.  Again, the PX
failed to notify market participants that this invoice was out there.
Normally they would send an email out and inform all market participants of
it's availability.  If Market Participants don't know about this invoice
being out there they will end up defaulting on their payments.  (That may be
what the PX wants so they can go after the collateral.

If you have any questions please let me know.

Good luck today! - MO


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/02/2001
07:49 AM ---------------------------

	Enron North America Corp.

	From:  William Smith @ ENRON                           04/02/2001 07:09 AM

To: Cary M Carrabine/Corp/Enron@Enron@ECT, Richard
Tomaski/Corp/Enron@Enron@ECT, Lee Fascetti/Corp/Enron@Enron, Paul
Burgener/Corp/Enron@ENRON, James Simpson/HOU/ECT@ECT, Per Sekse/NY/ECT@ECT,
Caroline Abramo/Corp/Enron@Enron, Candace Spencer/CAL/ECT@ECT, Terri
Brian/CAL/ECT@ECT, Lisa McIsaac/CAL/ECT@ECT, Carlee Gawiuk/CAL/ECT@ECT,
Gregory Schockling/Corp/Enron@ENRON, Ragan Bond/Corp/Enron@ENRON,
dan.mccairns@bhlp.com, Brad Horn/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT,
Jonathan McKay/CAL/ECT@ECT, Jean Mrha/NA/Enron@Enron, Sunil
Dalal/Enron@EnronXGate, Stephanie Miller/Corp/Enron@ENRON, Charles
Varnell/NA/Enron@Enron, Tyrell Harrison/NA/Enron@Enron, Kevin G
Moore/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, Theresa
Staab/Corp/Enron@ENRON, Nicole Cortez/NA/Enron@Enron, Gregory
Schockling/Corp/Enron@ENRON, Ragan Bond/Corp/Enron@ENRON,
dan.mccairns@bhlp.com, Brad Horn/HOU/ECT@ECT, Jeff Nielsen/Enron@EnronXGate,
Mike Barry/Enron@EnronXGate, Michael Nguyen/Enron@EnronXGate, Joseph
Hrgovcic/Enron@EnronXGate, Rajib Saha/Enron@EnronXGate, Brando
Hayden/HOU/ECT@ect, Todd Kimberlain/Enron@EnronXGate, David
Ryan/Corp/Enron@ENRON, Todd DeCook/Corp/Enron@Enron, Andy
Pace/NA/Enron@Enron, Dean Sacerdote/NA/Enron@Enron, David J
Botchlett/HOU/ECT@ECT, Bill F Briggs/HOU/ECT@ECT, Phil Clifford/HOU/ECT@ECT,
Jim Goughary/HOU/ECT@ECT, Mario de la Ossa/NA/Enron@ENRON
cc:
Subject: Morning Report for 2 Apr.'01


Stephanie,  Attached is the agreement with my comments redlined.  I would be
happy to discuss with you or Kern at your convenience.


Looks good--one typo in bullet 4, I think "not addressing" should be "nor
addressing."   Please bcc me and Mike on the final version.  Thanks df

	From:  Mary Kay Miller                           08/11/2000 08:02 AM

To: Mary Kay Miller/ET&S/Enron@ENRON
cc: Drew Fossum, Michael Moran/ET&S/Enron@ENRON, Mary Darveaux

Subject: Stranger's Gas Contract Discussion

Here is my first draft on the bullets for Steve Winston:  Please comment
asap.

Steve, per your followup phone call, here is a bullet point summary of the
issues discussed in regard to the counter proposal regarding the Stranger's
Gas contract negotiation.  I do not have George Drakes email address, so
could you please forward this to him.

1)   Ethane reimbursement needs to be at a minimum 4%
       If there is incidental ethane extracted, in conjunction with propane
NNG will be reimbursed with the propane

2)  In regard to point on netting months,   NNG does not agree with sentence
one, ok with second sentence

3)  In regard to point on netting products,  NNG does not agree with this.
This was not the intent nor the practice until KN commenced and is the issue
being discussed in regard to the audit of the Stranger's Gas reimbursement.
Per the bid package, Northern is requesting reimbursement by product, but
does realize that it may receive zero for certain products after
reimbursement has occurred for others.

4)  In regard to point on reimbursement of Btu's,  NNG, on behalf of its
customers, must be kept whole for the volumes.  The amount related to the
Stranger's gas contract needs to be kept whole.  We are not resolving not
addressing the measurement issue in the discussion of the Stranger's gas
contract.

5)  The contract to be utilized is the pro forma included in the Bid package,
however, Oneok is free to "mark up" with proposed changes to be specficially
discussed.  All parties that participated in the bid process have utilized
this contract, not the existing one. (The "mark up" is not to be a wholesale
delete with the old contract language inserted.)

6)  In the event we are unable to reach agreement on the Stranger's Gas
contract, NNG requests in writing an assurance of how Oneok is going to
modify its facilities etc, to assure that it will not unlawfully take liquids
that belong to others.

7)  Agreed to meet in Omaha on Sept 6th starting at 9:00 am.


FYI
----- Forwarded by Bernadette Hawkins/Corp/Enron on 03/20/2001 03:55 PM -----

	"Jackie Gallagher" <JGallagher@epsa.org>
	03/20/2001 02:30 PM

		 To: <bhawkin@enron.com>, <bmerola@enron.com>, <christi.l.nicolay@enron.com>,
<donna.fulton@enron.com>, <janelle.scheuer@enron.com>,
<jeff_brown@enron.com>, <jhartso@enron.com>, <jsteffe@enron.com>,
<Mary.Hain@enron.com>, <rshapiro@enron.com>, <sarah.novosel@enron.com>,
<tom.hoatson@enron.com>
		 cc:
		 Subject: Commission Actions to Remove Obstacles in Western US- Key Points
for EPSA Comments, Due MARCH 30TH

MEMORANDUM

TO: Regulatory Affairs Committee
       Power Marketers Working Group

FROM: Joe Hartsoe, Regulatory Affairs Committee Chair
            Bob Reilley, Power Marketers Working Group Chair
            Julie Simon, Vice President of Policy
            Mark Bennett, Senior Manager of Policy
            Erin Perrigo, Manager of Policy

DATE: March 20, 2001

RE: Commission Actions to Increase Supply and Decrease
      Consumption in the Western United States--Key Points for
      EPSA Comments Due MARCH 30TH

As we previously reported, on March 14, 2001, FERC announced certain actions
to address the energy problems in California and other areas of the West in
an Order Removing Obstacles to Increased Electric Generation and Natural Gas
Supply in the Western United States and Requesting Comments on Further
Actions to Increase Energy Supply and Decrease Energy Consumption.  The
following is an overview of the steps the Commission proposes to "immediately
help increase supply from existing power sources and to provide regulatory
incentives to build new electric and natural gas infrastructure."  The
Commission also invited comments on certain proposals.  This memo includes a
list of key points we intend to make in comments that are due by March 30th.

Overview of Order

The Order reflects a thorough review of  "all of [FERC's] rate and facility
certification authorities in the areas of electric energy, natural gas,
hydroelectric and oil to determine how it can increase electric energy
supply"; however, the Commission noted that its authority is "somewhat
limited."  While the Commission believes state regulators must assume the
lead role due to their authority over siting of generation and transmission,
as well as demand reduction measures, the Commission noted that the impact of
California's energy shortage on the Western Interconnection "underscores the
regional, interstate nature of the energy marketplace."  Accordingly, it
encouraged the formation of a single regional transmission organization for
western markets.

EPSA appreciates the Commission's effort to exercise the full extent of its
authority to help ease the West's energy problems.  Taken together, the
Commission's proposed actions represent positive steps toward rational
solutions to the difficult circumstances in the West.  Most importantly, the
Order highlights the importance of promoting infrastructure investment,
including increased generation, transmission and natural gas pipeline
facilities.

The Commission's immediate actions, which will expire on December 31, 2001,
include:

-Requiring the California ISO and transmission owners within the WSCC to
provide FERC with a list of short-term grid enhancements.

-Extending and broadening waivers of operating and efficiency standards and
fuel use requirements for qualifying facilities (QF).

-Providing wholesale power sales from generation used primarily for backup
and self-generation for businesses with prior notice waivers and market-based
rate authorization.

-Allowing wholesale and retail load reduction to be resold at wholesale
market-based rates.

The Commission seeks comment on several other proposals, including:

-Rolling in new supply interconnection and upgrade costs.

-Increasing the rate of return on equity for projects that significantly
increase transmission on constrained and new routes in the near term.

-10-year depreciation for short-term transmission projects, and 15-year
depreciation for upgrades involving new rights of way that can be in service
by November 1, 2002.

-Use of the interconnection authority set forth in FPA  o210(d) to help
alleviate obstacles to electric supply reaching load.

EPSA's Comments

In its conclusion, the Commission stated that comments should be "concise and
focused."  Accordingly, we suggest that EPSA's comments focus on the
following areas:

? Applaud the Commission's effort to increase supplies from QFs, but
encourage it to provide relief from existing contracts by allowing QFs to
sell to creditworthy parties.

? We understand that there are ongoing differences of opinion regarding the
relative merits of an incremental versus a "rolled in" approach to
interconnection and upgrade costs.  Therefore, while we may lack a consensus
on the question as a final policy position, we believe that the extreme
circumstances surrounding the Order, and the urgent need to move power
quickly into the Western system, make it wise to endorse FERC's instant
recommendation.

? The Commission's proposed actions to create and enhance incentives relating
to expanding and improving the transmission infrastructure through higher
ROEs and accelerated depreciation schedules are positive steps.  The
Commission normally conditions such premiums on meaningful participation in
regional transmission organizations.  However, given the current situation
and the immediate impact of any projects that might be entitled to the higher
ROE, EPSA could support this proposal.

? Constraints on the gas infrastructure have a generally adverse impact on
the energy supply system.  Therefore, the Commission's proposed waivers of
blanket certificates and rate incentives to expedite construction projects,
are favorable developments.

We will discuss the Order and EPSA's comments during tomorrow's Regulatory
Affairs/Power Marketers' conference call.  In addition, we have been asked to
consider what type of short-term relief could be included in federal
legislation.  We will discuss this question as well.  To access the call,
dial 1-800-937-6563 and ask for the Julie Simon/EPSA call. In the meantime,
if you have any questions, please contact either Julie Simon, jsimon@epsa.org
or Mark Bennett, mbennett@epsa.org at (202 628-8200).


looks like its working.  Thanks

 -----Original Message-----
From: 	Manguba, Jimmy
Sent:	Monday, March 04, 2002 9:24 AM
To:	Germany, Chris
Subject:	RE: Citrix application?

hi chris, i copied a shortcut onto your desktop to the Iroquois online website ... let me know if it works.

jimmy

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, February 25, 2002 11:24 AM
To:	Manguba, Jimmy
Subject:	RE: Citrix application?

thanks, i have a 1:00 deadline today, I'll see if the pipeline can help me out with that.

keep me posted because I will need this once a month until we are invited to leave.

 -----Original Message-----
From: 	Manguba, Jimmy
Sent:	Monday, February 25, 2002 10:48 AM
To:	Germany, Chris
Subject:	RE: Citrix application?

Chris, i too was unable to get to the login screen even after following their website's instructions ... Web Operations is currently looking into this problem.  i will keep u posted.

Jimmy

 -----Original Message-----
From: 	Germany, Chris
Sent:	Friday, February 22, 2002 11:17 AM
To:	Manguba, Jimmy
Subject:	RE: Citrix application?

According to Iroq the problem is on our side.  Please call me first think Monday morning at 3-4743.  Following is the address that I'm starting at.  I go to this address and click on "Customer Activities" and that's when I get the error message.  It should ask me for my ID and password.

I'm at ECS 04425 if you decide to come by my desk.  I'm out for the rest of the day.

Thanks

http://www.iroquois.com/igts/transportation/section-frame.html

 -----Original Message-----
From: 	Manguba, Jimmy
Sent:	Friday, February 22, 2002 8:31 AM
To:	Germany, Chris
Subject:	Citrix application?

Hi Chris, are you still having problems with a Citrix Client application?  Lemme know and i will stop by.

Jimmy Manguba
Enron Desktop Support


We have for the last couple of weeks started to compile the Re-start/Integration Plans for Netco.  So far, we have primarily focussed on the mid/back plans where the technology requirements have been the driving factors.  Several plans are in the final stages of completion including:-

+	Infrastructure		Jenny Rub
+	Development		Jay Webb
+	EnronOnline		Webb / Forster
+	HR			David Oxley
+	Cash Management	Tom Myers
+	Credit			Debbie Brackett

The rest will be completed shortly.

We now need to focus on the commercial plans which have a slightly different focus. John and I would like to receive the plans "Re-start/Integration"  plans by January 7th, 2002 in order to go through them individually with each of you or in groups.  The focus should be to ensure that we have as much of the business up and running in the shortest time possible.  I have a suggested outline which you do not have to use but I thought it might help.  Please decide within yourselves the areas you will cover together or individually.

Customer Side
+	Customers		Phase  1 - First Week (eg top 10)
				Phase  2 - First Month (eg top 50)
				Phase  3 - First Quarter (eg top 100)
+	Action Plan		Phase  1 Customers
				Phase  2 Customers
				Phase  3 Customers
+	Contracts by customers (pre-prepared with credit terms etc)
+	Customer visit schedule

Product Side
+	List of Products	Phase 1 - First Week
				Phase 2 - First Month
				Phase 3 - First Quarter

Target Number of Transactions
+	Phase 1
+	Phase 2
+	Phase 3

IT transfer

Louise


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 SEE WHAT'S NEW ON EXPEDIA.COM
Thinking snow? Get ready for the slopes with a Warren Miller movie.
<http://expedia.cq0.net/r/default.asp?R=000088e880007e5de&rfrr=-1412>
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<http://expedia.cq0.net/r/default.asp?R=000088e130007e5de&rfrr=-1412>
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<http://expedia.cq0.net/r/default.asp?R=000088e240007e5de&rfrr=-1412>
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This email was sent to: tkuyken@ect.enron.com


--- Automatic Notification System ( Request #: LMAA-4EER34 )

The installation of the equipment (see below) has been completed.

TP 600 366 LAPTOP
TP600 64 MEG MEM
TP600 AC ADPT
TP600 BATTERY
TP600 BATTERY CHARGER
TP600 CARD ENABLER
TP600 ETHERNET
TP600 SELECTABASE
UNIVERSAL NTBK CASE


Jeff,

Attached are the November 2001 WTI, Cushing positions for Sempra, Koch and Coastal.


TO  HIRING MANAGERS AND ASSISTANTS,      (Please forward to anyone not
included.)

New! Staffing Requisition Form:

With the implementation of SAP, this form is now the critical key factor to
(1) get your new employee paid, (2) charge to the appropriate dept., (3)
create the necessary "position" for the employee in SAP, and (4) post your
opening to Web sites.
To Expedite The Hiring Process,  please complete the attached form to request
staff:  Additions, Replacements, Transfers, Contractors/Temporaries, and
Part-Time Personnel. (RED sections only)
Return this form via e-mail.

New! Candidate Interview Form:

We recognize the need to schedule candidate interviews as promptly as
possible.
To Expedite The Interviewing Process,  please complete the attached form when
requesting a candidate to be interviewed. (RED sections only)
Return this form via e-mail with the resume.   If you only have a hardcopy of
the resume, please send this form and resume to me at EB-3658B.

Employee Referral Policy & Form:

To provide incentives for current domestic employees of Enron Corp. and it's
subsidiaries referring applicants who are hired for regular full-time U.S.
payroll-based positions within Enron. ($1,000 for non-exempt & $2,000 for
exempt)
Return this form via e-mail with the resume.   If you only have a hardcopy of
the resume, please send this form and resume to me at EB-3658B.

If you have any questions or need assistance with your new SAP data
requested,  please let me know.

Thank you in advance for your cooperation,
Toni Graham
Staffing Consultant
ENA Commercial Support
x39995


Click on the Weekly Report for week ending December 8, 2000.

Weekly Report


As promised

cmm


CRC has a view that expost prices are going to be low for certain hours today
and wants us to put in dec bids to pull energy out of the ISO under these
conditions:

HE   13-16, 23-24
Volume   25 MW
Bid price  $0
Tiepoint  LC1
Scheduling Fee  $5 per MWh

If he is awarded give Bill Miller a call.  Also

Paul Choi


Go to the first website shown below (http://www.enerfax.com).  Scroll down
once you get to this website and you will see an article about fuel cells.

---------------------- Forwarded by Chris Germany/HOU/ECT on 05/09/2001 08:00
AM ---------------------------

"Enerfax Energy" <enerfax1@bellsouth.net> on 05/09/2001 06:32:20 AM
To: <e@enerfax.com>
cc:
Subject: Gas Futures Up

Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
Wednesday, May 9, 2001 No. 736
Visit our website at: http://www.enerfax.com,
if you would like to receive our daily free email write
Enerfax-subscribe@egroups.com.

For Oil Prices & News write enerfaxgold-subscribe@egroups.com
or go to http://www.enerfaxgold.com

Please view in a fixed-width font such as Courier.

GAS FUTURES
Henry Hub
12 Month Strip  4.5322  +0.0236
18 Month Strip  4.4734  +0.0115
| Month | High  |  Low  | Close | Change |
| JUN   | 4.320 | 4.200 | 4.279 | +0.040 |
| JUL   | 4.380 | 4.270 | 4.353 | +0.039 |
| AUG   | 4.457 | 4.360 | 4.425 | +0.035 |
| SEP   | 4.487 | 4.390 | 4.455 | +0.030 |
| OCT   | 4.527 | 4.440 | 4.493 | +0.028 |
| NOV   | 4.710 | 4.625 | 4.673 | +0.023 |
| DEC   | 4.885 | 4.800 | 4.853 | +0.018 |
| JAN   | 4.960 | 4.860 | 4.923 | +0.018 |
| FEB   | 4.820 | 4.820 | 4.803 | +0.018 |
| MAR   | 4.640 | 4.570 | 4.613 | +0.018 |
| APR   | 4.320 | 4.250 | 4.293 | +0.013 |
| MAY   | 4.260 | 4.190 | 4.223 | +0.003 |

PHYSICAL GAS PRICES
| Gulf/Eastern Region              |        |
| Agua Dulce                       |  4.13  |
| ANR SE                           |  4.13  |
| Carthage TG                      |  4.16  |
| Chicago Citygate                 |  4.36  |
| Columbia Gulf Onshore            |  4.17  |
| Dominion TTT South(CNG S. Point) |  4.45  |
| Henry Hub                        |  4.21  |
| Houston Ship Channel             |  4.26  |
| Katy Hub                         |  4.22  |
| NGPL - Midcontinent              |  4.16  |
| NGPL STX                         |  4.11  |
| NGPL TX/OK                       |  4.17  |
| Niagara                          |  4.48  |
| Sonat Tier 1                     |  4.17  |
| TCO IPP Pool                     |  4.44  |
| Tetco ELa                        |  4.16  |
| Tetco M-3                        |  4.57  |
| Tetco STX                        |  4.10  |
| TGP Zone 0                       |  4.11  |
| TGP Zone 1                       |  4.19  |
| TGT Zone SL                      |  4.18  |
| New York Citygate                |  4.58  |
| Transco Station 65               |  4.23  |
| Transco Zone 6 (NY)              |  4.58  |
| Trunk ELa                        |  4.05  |
| Western Region                   |        |
| California Border                | 12.60  |
| El Paso Permian                  |  4.12  |
| El Paso San Juan                 |  3.76  |
| Waha Hub                         |  4.16  |
| Canadian/Rockies Region          |        |
| Nova/Aeco (in C$/GJ)             |  5.76  |
| Dawn Hub/Union                   |  4.48  |
| Northwest Stanfield              |  4.28  |
| Wyoming Pool                     |  3.76  |
| Opal                             |  3.76  |
| PGT-Malin                        |  5.01  |
| Sumas                            |  4.22  |

POWER FUTURES
| Month |   COB   |  Change  |    PV    | Change  |
| JUN   | 350.00  |  +0.00   |  365.00  | +10.00  |
| JUL   | 420.00  |  +45.00  |  430.00  | +10.00  |
| AUG   | 515.00  |  -10.00  |  535.00  |  -5.00  |
| SEP   | 305.00  | -120.00  |  295.00  | +10.00  |
| OCT   | 325.00  |  +0.00   |  190.00  |  +0.00  |
| NOV   | 285.00  |  +0.00   |  135.00  |  +0.00  |
| DEC   | 315.00  |  +0.00   |  140.00  |  +0.00  |
| JAN   | 255.00  |  +0.00   |  130.00  |  +0.00  |
| FEB   | 250.00  |  +0.00   |  120.00  |  +0.00  |
| MAR   | 190.00  |  +0.00   |  110.00  |  +0.00  |
| APR   | 117.00  |  +0.00   |  114.00  |  +0.00  |
| MAY   | 117.00  |  +0.00   |  114.00  |  +0.00  |
| Month | Entergy |  Change  | Cinergy  | Change  |
| JUN   |  71.25  |  +4.25   |  62.75   |  -3.50  |
| JUL   | 110.00  |  +6.00   |  97.50   |  -5.00  |
| AUG   | 110.00  |  +6.00   |  97.50   |  -5.00  |
| SEP   |  45.50  |  +1.50   |  38.75   |  -1.75  |
| OCT   |  40.25  |  +0.75   |  38.25   |  -1.25  |
| NOV   |  40.25  |  +0.75   |  38.25   |  -1.25  |
| DEC   |  40.25  |  +0.75   |  38.25   |  -1.25  |
| JAN   |  43.75  |  +0.75   |  42.50   |  -1.00  |
| FEB   |  43.75  |  +0.75   |  42.50   |  -1.00  |
| MAR   |  38.00  |  +0.25   |  36.00   |  -1.00  |
| APR   |  38.00  |  +0.25   |  36.00   |  -1.00  |
| MAY   |  45.00  |  +0.50   |  41.75   |  -0.25  |

POWER FUTURES
| Month |   PJM   | Change |
| JUN   |  65.50  | +3.50  |
| JUL   | 101.50  | +4.50  |
| AUG   | 101.50  | +4.50  |
| SEP   |  40.25  | -2.50  |
| OCT   |  39.00  | +0.25  |
| NOV   |  39.00  | +0.25  |
| DEC   |  39.00  | +0.25  |
| JAN   |  43.00  | -1.50  |
| FEB   |  43.00  | -1.50  |
| MAR   |  37.00  | -0.75  |
| APR   |  37.00  | -0.75  |
| MAY   |  42.25  | +1.50  |

NATURAL GAS OPTIONS
|       | Closing | Days | Implied ATM |
| Month |  Price  | Left | Volatility  |
| JUN   |  4.279  |  18  |   53.83%    |
| JUL   |  4.353  |  50  |   54.67%    |
| AUG   |  4.425  |  80  |   54.45%    |
| SEP   |  4.455  | 113  |   54.21%    |
| OCT   |  4.493  | 141  |   55.41%    |
| NOV   |  4.673  | 172  |   55.52%    |
| DEC   |  4.853  | 204  |   55.01%    |

PHYSICAL POWER PRICES
|            |  High   |   Low   | Average |
|            |  $/MWh  |  $/MWh  |  $/MWh  |
| Cinergy    |  30.00  |  25.75  |  27.50  |
| ECAR       |  32.15  |  26.50  |  28.25  |
| ERCOT      |  43.50  |  42.50  |  43.00  |
| Entergy    |  39.00  |  34.00  |  36.35  |
| TVA        |  27.25  |  27.00  |  27.15  |
| ComEd      |  28.50  |  27.00  |  27.40  |
| PJM West   |  36.00  |  32.75  |  33.55  |
| Main       |  28.00  |  27.25  |  27.65  |
| MAPP       |  34.00  |  28.50  |  32.00  |
| Palo Verde | 370.00  | 265.00  | 299.95  |
| Mid C      | 360.00  | 285.00  | 327.95  |
| COB        | 360.00  | 360.00  | 360.00  |
| 4 Corners  | 330.00  | 300.00  | 315.00  |
| Mead       | 330.00  | 315.00  | 322.50  |
| NP 15      | 312.00  | 310.00  | 311.00  |
| SP 15      | 270.00  | 270.00  | 270.00  |
________________________________________________

For a Free White Paper Report from FAME:

Forward Curves Managing Price Risk

Go to http://www.fame-energy.com/fcreg.htm
_________________________________________________

Today's Power Bulletins
 * California Says BC Hydro Withholds Power on Credit Concerns
 * California Senator Feinstein Praises Williams Support of Interim Power
Price Caps
 * FPL Group Capital Sells $500 Million 6-Year Notes
 * California Power Prices Soar a Day After Rolling Blackouts
 * AES Suspends $2.5 Billion in Brazilian Investments
 * Enron Bidding on UK Power Plants to Increase Profit and Reduce Risk
 * Lenders to Enron's Troubled Dabhol Power Project in India May Cut
Interest Rate on Almost $2 Billion in Loans to Prevent Default
 * Enron Moves Executives Families Out of India
 * India's Maharashtra State Electricity Board May Fine Dabhol $158 Million
for Allegedly Failing to Generate Power to Full Capacity within 3 Hours of
Starting Plant After 12-Hour Break
 * New World Power Terminates Discussions to Acquire Block Island Power
Company, a Regulated Rhode Island Utility
 * American Electric Power Supplements Investment in Altra Energy
Technologies
 * Niagara Mohawk Files Proposed Settlement on Sale of Nine Mile Point
Nuclear Stations
 * Fitch Encouraged By Nuclear Regulatory Commission's Recent Actions

More stories with bulletins at http://www.enerfactsdaily.com
____________________________________________________

GET REAL about energy risk management with KWI

In today's fast moving energy markets you need to be able to manage risk in
real time.

That means knowing before you hit a risk problem, not afterwards when it may
be too late to prevent big losses spreading right through your enterprise.

With kW3000(tm), our multi-commodity, integrated front to back office
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________________________________________________

Today's Gas Bulletins
 * Canadian Natural Resources 1st Quarter Earnings Up 86% on Higher Sales
and Prices
 * Anderson Exploration 1st Quarter Profit Jumps 350%, Beating Expectations
 * National Fuel Gas Expects Acquisition of Player Petroleum to Raise 2002
Earnings Past Analysts' Current Expectations
 * Statoil Says EU Rules May Reduce European Natural Gas Supplies
 * EU Sues French Government to Force Opening of Natural Gas Market
 * Canadian Rigs Drilling Up 7 in Past Week
 * Soaring Natural Gas Prices Help BP to 7th Consecutive Record Quarterly
Profit; Up 52% from a Year Ago
 * Ultramar Raised to Strong Buy on Valero Bid
 * FERC Approves El Paso Plan to Convert 785 Miles of Existing Crude Oil
Pipeline to Transport 230 MMcf per Day of Natural Gas from Texas to
California Border

More stories with bulletins at http://www.enerfactsdaily.com
__________________________________________________

North American Gas Storage Conference
Storage 2001 - 2002:
Source of Stability or Chaos?
June 22, Houston

Find the answers at Ziff Energy's natural gas storage conference.  A
blockbuster roster of industry leaders from the utility, trading, pipeline
and storage sectors in each of the North American storage regions will
present timely, relevant information you can use. This conference will
assist you in making critical decisions about your natural gas storage
strategy for peaking and the remaining seasonal base fill. The game has
changed - storage strategy has been kicked up a notch from buying for
seasonal fill to real-time risk management.

Session 1 Supply Shortage or Storage Inefficiencies: Last Winter's Saga
El Paso Corporation - Byron Wright, VP
Energy Information Administration, DOE - Jim Thompson, Industry Analyst
Keyspan Energy - David Manning, Senior VP, Corporation Affairs
Axia Energy - David Modesett, VP

Session 2 The Changing Storage Paradigm:
Dynamic Storage Service vs Seasonal Fill
AEC Storage & Hub Services Inc. - Rick Daniel, President
Williams Energy Marketing & Trading - Blake Herndon, Director, Risk
Management
NiSource Inc. - T.J. Aruffo, VP Energy Supply Services
Enron North America - Paul Bieniawski, Director
Duke Energy Gas Transmission - David Nightingale, VP MHP

Session 3 Pricing it Right and Reducing Risk:
Can We Expect Stability or Chaos in Winter 2001 - 2001?
Aquila Energy - Mark Cook, VP The Exchange Center Conoco Gas and Power
Marketing - Brad King, VP Storage
Sempra Energy Trading - Dan Guertin, Meteorologist

For more information or to register visit
http://www.ziffenergyconferences.com, call 1-800-853-6252,
or email us at gasconference@ziffenergy.com
________________________________________________

Natural Gas Futures End Higher

    Natural gas futures on the NYMEX closed higher yesterday as traders
sought to cover their short positions due to a feeling that the market was
oversold following the steep decline of the last several days. The June
contract climbed
$0.04 to $4.279 per MMBtu. June rose $0.039 to $4.353 per MMBtu. The market
was basically just marking time until the AGA releases the latest storage
injection figures this afternoon. The AGA is expected to announce an
addition to storage of about 100 Bcf. A somewhat lower injection could spark
a rally because the market has already discounted a triple digit build.
However, an injection of over 115 Bcf could send the market to $4.00 in a
hurry. A year ago, stocks for the same week rose 58 Bcf, and the five-year
average injection is 61 Bcf. Since the AGA began reporting storage data, the
highest ever recorded was 78 Bcf in 1998. If current weather models hold up,
the Midwest and Texas will escape much of the summer's hottest temperatures,
and right now, temperatures are mild across most of the nation. Look for
technical support at the $4.20 level, and resistance is expected at $4.40.
Natural gas for next day delivery across the US and Canada generally slipped
$0.10  $0.15 per MMBtu yesterday, except in the west where most spot prices
rose due to hot weather. Natural for next day delivery at the Henry hub
dropped $0.12 to $4.21 per MMBtu.
________________________________________________

25TH Annual CIS Conference
May 15-18, 2001
Albuquerque, NM

The CIS Conference provides utility management personnel unequaled insight
and current information on customer relationship management (CRM),
e-commerce, technologies and marketing. Fifty-four workshops conducted by
utility industry representatives will focus on issues facing the industry
with over 125 companies exhibiting the latest technologies and services.
Former President George Bush is this year's honored keynote speaker.

Plan now to attend the CIS Conference, May 15 to May 18, in Albuquerque, New
Mexico. To learn more about the Conference and register on-line, please
visit our website at http://www.cisconference.org
_________________________________________________

Natural Gas NYMEX Volume
01JUN   31,687
01JLY    8,252
01AUG    3,731
01SEP    2,665
01OCT    2,878
01NOV    1,411
01DEC    1,912
02JAN    2,614
02FEB    2,190
02MAR    1,617
02APR    2,027
02MAY      998
02JUN       73
02JLY      175
02AUG      128
02SEP       45
02OCT      255
02NOV      176
02DEC      115
03JAN      870
03FEB       87
03MAR       86
03APR       26
03MAY       23
_______________________________________________

ENERGY.
@ENERGY, FEA's Complete Suite of Energy Products,
BUILT FOR THE FUTURE.

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*Build and Price deals.
*Value physical assets (generation, storage, etc.)
*Report and reduce your energy risks

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http://www.fea.com
_________________________________________________

Fuel Cells 2000 Unveils New Career Center

     Fuel Cells 2000 has launched an online resource center for individuals
interested in pursuing a professional career in the fuel cell industry.  The
resource was created in response to the hundreds of emails and letters
inquiring about employment opportunities in the growing fuel cell job
market. The Fuel Cell Career Center
(www.fuelcells.org/careercenter/fccenterhome.html) provides information in
three separate areas of activity - Education, Employment Opportunities, and
Professional Development - to service every stage of the job search, from
laying the groundwork with a fuel cell-focused degree to training and
workshops at the professional level. * The Educational Activities section
includes background information for students interested in pursuing an
undergraduate or graduate degree involving fuel cell technologies,
internship opportunities and information on curriculum materials and
educational kits for teachers. * For job seekers, the Employment
Opportunities section of the Career center has listings and links to
websites offering jobs within the fuel cell industry, company profiles to
learn more about individual fuel cell companies and their activities, and
will soon have job posting boards for companies to display employment
listings. * For Professional Activities, Fuel Cells 2000 has compiled a
listing of workshops and seminars to provide opportunities for information
exchange and networking in the fuel cell industry as well as links to
Professional Associations related to engineering, fuel cells and renewable
energy.
__________________________________________________

"New Horizons Solutions for the 21st Century"

An Energy Efficiency Workshop and Exposition
Kansas City, Missouri
June 3 - June 6, 2001

For more information go to http://www.energy2001.eee.doe.gov
_________________________________________________

TransCanada to Sell Natural Gas Marketing Unit

    TransCanada PipeLines plans to sell its money losing natural gas
marketing unit to concentrate on more profitable power generating plants and
pipelines. It expects to begin the sale process within the next couple of
months. The natural gas marketing unit had a C$6 million loss in the first
quarter, compared with a C$10 million profit a year ago. Last year,
TransCanada shed C$3.4 billion in unprofitable businesses.
_________________________________________________

SUNGARDc
Solutions for Success in Energy Trading

Epsilon and Panorama Energy
Risk and complexity are inevitable components of every trading transaction
within today's volatile energy market.  Having the right tools to manage and
control those risks has become a determining success factor.  SunGard
provides those tools with Epsilon and Panorama Energy - comprehensive
solutions designed to create measurable competitive advantages for energy
trading organizations and utility companies worldwide.

To receive more information or a free demonstration, we invite you to
contact us at 713-266-7771 or visit our web site at
http://risk.sungard.com/energy.
________________________________________________

Weather

    NOAA says last week's total of 26 heating degrees days was 22 less than
the previous week, 26 below normal and 12 below the same week last year. It
also reported a total of 24 cooling degree days last week, 12 more than the
previous week, 12 above normal and seven above the same week last year. The
latest NWS 6 to 10-day forecast calls for above-normal temperatures for most
of the West and Southeast, with below normal readings expected in the
Northeast. Seasonal temperatures were predicted for the Mid-Atlantic, upper
Midwest and parts of Texas, Florida and the Northwest.
________________________________________________

Upcoming Energy Seminars

Power Techniques for Power Purchasing
Baltimore May 10-11, Kansas City Oct 4-5, Las Vegas Nov 29-30

Gas Contracts A - Z 101 & 202
Houston - Fall(see web page for update)

Natural Gas 101
Dallas June 4-5, Houston July 17-18, Philadelphia Aug 9-10,
Houston Sept 13-14, Atlanta Oct 11-12, Houston Nov 27-28,
Oklahoma City Dec 6-7

FASB 133: Accounting for Derivatives
Houston June 15

Basis Trading - Natural Gas
Houston June 13-14, Philadelphia July 12-13,
Houston Aug 16-17, Toronto Sept 20-21, Houston Oct 16-17,
Atlanta Nov 8-9, Houston Dec 13-14

Petroleum Products Hedging
Houston June 26-27, Houston Sept 27-28, Houston Nov 27-28,

Gas Processing Contracts
Oklahoma City Sept 11-12, Houston Nov 13-14

Electricity 101
Houston Jun 13-14, Houston Sept 5-6, Washington DC Oct 23-24, Houston Dec
5-6

Electricity 202
Houston May 8-9, Houston Nov 6-7

Energy Seminars, Inc
Phone 281-362-7979
See http://www.energyseminars.com for more details.
________________________________________________

Enron's Lay Calls for Open Access to Transmission Grid

    Ken Lay, chairman of Enron, says that generators should have easier
access to the power grid. Lay spoke after receiving the US Energy
Association's 2001 US Energy Award, saying that today we don't have open
access to the transmission grid, and we could get more power into the West
if we had open access. He says the FERC should open up the power grid
throughout the nation so generators no longer have to pay a series of
separate fees to move electricity from one region to another. He also says
FERC has the authority to open up the power grid in the same way that
natural gas pipeline transmissions work. It's clear we've under-invested in
energy infrastructure in the last 10 to 15 years, and it's going to take a
few years to correct that.
________________________________________________

And now there's FASB 133.  So history will affect reported earnings, because
hedge efficiencies and derivative valuations will hit the bottom line.

At FAME, we deliver quality historical information and analysis. For your
FREE copy of the recent report, Protecting Your Earnings: Managing the FASB
133 Challenge, visit www.fame-energy.com
_______________________________________________

Kinder Morgan and Calpine Offer 2 Open Seasons
for Sonoran Pipeline

    Kinder Morgan Energy Partners and Calpine have announced that two open
seasons have begun and will continue through June 1st on the recently
announced Sonoran Pipeline.  A binding open season is being held on Phase
One of Sonoran - which would run from the San Juan Basin in New Mexico to
the California border - to give shippers the opportunity to commit to firm
capacity on the pipeline.  A non-binding open season is being held
simultaneously on Phase Two of the project - which would extend the pipeline
from the California border to the San Francisco Bay area - to give potential
shippers the opportunity to express their interest in obtaining firm
capacity to California delivery points.  Sonoran has received a binding
commitment from Calpine Energy Services for 400,000 Dth per day on Phase One
and a non-binding commitment for 500,000 Dth per day for Phase Two. The
proposed pipeline will be a 1,030-mile, high-pressure interstate natural gas
pipeline from the San Juan Basin in northern New Mexico to markets in
California and is projected to be in-service date by the summer of 2003.
_______________________________________________

Progas Storage Services, Inc

was recently organized to offer specialized natural gas storage services to
marketers and end users servicing the upper Midwest and Northeast market
regions along the major transmission systems in Indiana, Illinois, Kentucky,
and Michigan. PGSMI has 10 bcf of potential working capacity which will
offer service along TXG, ANR, Midwestern, and is currently evaluating for
purchase another 21 bcf of potential working capacity which can be serviced
by these and other systems in the region. PGSMI also explores for natural
gas in the Gulf Coast region through a wholly owned subsidiary. Progas
intends to go public through a route of private industry offerings, and an
IPO or registration. For more information on services or the company mail
to: gastorage@aol.com or for AOL mail to gastorage@aol.com; web site
currently under construction at: http://www.progas.net/wip.

The company's executive and administrative office is located in Abilene,
Texas with storage operations in Owensboro, KY and exploration operations in
Corpus Christi, TX.

Progas Storage Services, Inc
8610 S. Hwy 277
Abilene, TX 79606

Ph 915 698 3699
Fx 915 698 2859
_____________________________________________

Power Suppliers to Meet with California Governor

    Executives from energy suppliers are meeting with Californias governor
today, and several are willing to discuss concessions that include price
limits on power sold within the state. Last week the governor said he would
seek to force the suppliers to accept reduced payment for billions of
dollars owed by the states utilities. In the face of a state investigation
into alleged market manipulation, some generators are willing to discuss
limits on prices for some electricity sold to the state. Williams says it is
prepared to support temporary price controls that would extend through the
summer of 2002. Williams is also willing to discuss a range of possible
alternatives for repayment of past debts owed to it. Reliant will reiterate
an earlier offer to sell some electricity to the state at $20 per MWh if the
buyer will pay for the natural gas to generate the power. Duke Energy has
proposed accepting less than full payment for power sold to the state in
return for an end to state and federal investigations into the prices they
charged. Duke, Enron, AES, Dynegy, Mirant, El Paso Energy, Reliant, and
Williams will all send executives to Sacramento to the meeting.
______________________________________________

GasTrader.Net

BULLS CAUTIOUS
In spite of slip sliding natural gas prices, analysts are still cautiously
bullish. There seems to be little incentive to abandon the bullish cause
with the prospects of hot summer weather looming."This is a weak market, but
I think that below $4.60 you have to anticipate the return of industrial
demand. It's really a wild card as to whether that demand will take the edge
off the current large injections. Over the past month, the market has gone
through a major change. Production has increased, storage  is higher, and
the injection last week at 102 BCF was the largest since June of 1998,' says
George Ellis, broker analyst with BNP Paribas, New York. "I was skeptical of
 the whole concept of demand erosion, but it's obviously real and when you
combine that with an increase in production, the supply demand balance
becomes clear. There is potentially more room to the downside, but the wild
card is weather and if that kicks in, prices could move sharply higher. If
prices fell to $4.38 then that would be a reason to put on another 25%
hedge. As long as we're holding these prices I think there's a good chance
prices will rally higher. I'm cautiously bullish. I would not be an
aggressive seller," he said.

For a Complimentary 5 week GasTrader Subscription go to
http://www.gastrader.net or call 303/761-7470
_____________________________________________________

TRENTON/BLACKRIVER "BOOM" IN WEST VIRGINIA

Land and Mineral Development LLC., Vienna, West Virginia, owns 85,000 acres
of mineral rights in Southeastern West Virginia. The first
Trenton/Blackriver production found in the state, was in a well drilled in
1962 by Tidewater Oil Company adjoining our property. We need an industry
partner. Geophysicist report and other information available.  The 85000
acres would also make a great gas storage field.

We also have another small storage field for sale near the new Trenton
Wells.

Email - Driller@wirefire.com
Qualified Industry Principals only please.
This is not an offer to sell anything to anyone.

Land and Mineral Development LLC.,
P.O. Box 5370
Vienna, West Virginia, 26105
(304) 295-3333
_______________________________________________

Blackouts Hit California Again

    California residents suffered through a second day of rolling blackouts
yesterday as temperatures soared, driving demand ahead of supply. The
California ordered that as of 3:10 PM the state's utilities must cut 400 MW.
Blackouts had been forecast by the ISO since early in the morning with the
heat coming at a time when many power plants are still off-line for
maintenance. The Los Angeles Department and Power, was as usual was excluded
from the blackouts. The LADWP is not under the ISO's control and has more
than enough generation to meet its demand. The ISO said demand was running
about 1,000 MW above Monday's levels. Earlier Tuesday, the ISO had projected
blackouts could be ordered before noon, but the return to service of two
500-kilovolt lines operated by BC Hydro meant more power was able to flow
south. About 700 MW produced by small suppliers, known as Qualifying
Facilities, are currently offline because they have not been paid. The hot
temperatures are likely to continue today, with the threat of more
blackouts.
_______________________________________________

CAMINUS
ENERGY SOFTWARE
SHOWCASE 2001
HOUSTON, TEXAS

You're Invited
To a four hour exposition of software and services that will set the new
standard for the energy trading, scheduling, and risk management. Join us
and compare your existing system with our latest product offerings.

Thursday, June 14, 2001. 3p.m. to 7p.m.
Houston Petroleum Club
800 Bell Avenue, 43rd Floor

For more information or to register on-line, visit http://www.caminus.com.
You may invite up to two qualified colleagues to join you.

Nucleus Software . ZaiNet Software
ZaiNet Gasmaster 2 . ZaiNet WeatherDelta
___________________________________________________

FINANCIAL SUMMARY
The TSE 300 gained 41.60 points to 8064.20
The CRB Index lost 0.02 points to 214.60
The US Dollar increased 0.69 points to 116.08
The Dow declined 51.66 points to 10883.51
The S&P 500 lost 2.31 points to 1261.20
The Nasdaq was up 25.20 points to 2198.77
June NYMEX Crude Oil dropped 0.47 to 27.39
Canadian-US Exchange rose .0041 to 1.5444
___________________________________________________

EnerfactsDaily Job Center at http://www.enerfactsdaily.com

New Job Postings Include:
 * Sales-Business Development
 * Operations Specialist
 * Account Director -Marketing/Transportation
_____________________________________________________

Need a past issue of Enerfax Daily or Enerfax GOLD. Past issues are
available on Sagewave at
http://www.sagewave.com/D2/autolog/common/log.asp?KEY=enerfax
______________________________________________________

Please welcome our advertisers by visiting these websites.
http://www.kwi.com
http://www.fea.com
http://www.caminus.com
http://www.progas.net/wip
http://www.fame-energy.com
http://www.cisconference.org
http://www.energyseminars.com
http://risk.sungard.com/energy
http://www.energy2001.eee.doe.gov
http://www.ziffenergyconferences.com

Enerfax Daily is North America's gas and power information source. it is
sent to you free of charge. Enerfax Daily may be copied and redistributed in
its entirety to all interested energy professionals. Please e-mail us at
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For information on advertising, please write advertise@enerfax.com, or for
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The following Late/Pending nom has been rejected:

Company: 000236    Arng: 37147-05700    Eff Date: 2001-10-18

                          Nominated
           Location        Quantity

Receipt    A06                6,434
Delivery   P1037147           6,434

REJECTED REASON: POOL OUT OF BALANCE

This document was created by TCO0060  in the DB2P subsystem in TRANS ID SMI0, program TJ90018


Barry -

was thinking about the same thing just this weekend.  I am not sure how the weather looks but Thursday may work nice for me this week - Or Friday.  Let me know.

Thanks,
Rogers

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Monday, October 22, 2001 9:26 AM
To:	Herndon, Rogers
Subject:	Motorcycle Rides

Let's try to get out soon.  Also, I ran into Mike Roberts ( the weather guy) and he would like to join us some lunch hour... he brings his bike in every day.

Talk to you soon.

BT


IntercontinentalExchange
Firm Physical Natural Gas Price Bulletin
For Natural Gas Delivered on Wednesday, November 21, 2001
(Trade Date of Tuesday, November 20, 2001)
Click here to access index history.
* volume represents sell-side only *
 Region     Hub 	 High 	 Low 	 Wtd Avg Index 	 Change ($) 	 Vol (mmBtu) 	 Hub Name
  LOUISIANA
     ANR SE 	 $2.7900 	 $2.1000 	 $2.6126 	 +.5901 	 222,600 	 American Natural Resources Pipeline Co. - SE Transmission Pool
     Columbia Onshore 	 $2.7450 	 $2.1500 	 $2.5128 	 +.3097 	 305,200 	 Columbia Gulf Transmission Co. - Onshore Pool
     Henry Hub 	 $2.8200 	 $2.2200 	 $2.6180 	 +.5406 	 1,538,500 	 Henry Hub tailgate - Louisiana
     NGPL LA 	 $2.7400 	 $2.0550 	 $2.5180 	 +.5460 	 287,900 	 Natural Gas Pipeline Co. of America, Louisiana Pool
     Tenn 500L 	 $2.7400 	 $2.2800 	 $2.5295 	 +.4989 	 275,100 	 Tennessee Gas Pipeline Co.-Zone L, 500 Leg Pool
     Tenn 800L 	 $2.7300 	 $2.2450 	 $2.4840 	 +.4767 	 248,800 	 Tennessee Gas Pipeline Co.-Zone L, 800 Leg Pool
     TETCO ELA 	 $2.7900 	 $2.2500 	 $2.5993 	 +.4619 	 164,900 	 Texas Eastern - East LA
     TETCO WLA 	 $2.7700 	 $2.3300 	 $2.5976 	 +.6778 	 208,300 	 Texas Eastern - West LA
     Transco 65 	 $2.8200 	 $2.3000 	 $2.6756 	 +.5535 	 176,100 	 Transco - Station 65
     Trunkline ELA 	 $2.7600 	 $2.0000 	 $2.5481 	 +.5686 	 82,500 	 Trunkline Gas Company - East Louisiana Pool
     TxGas SL 	 $2.8400 	 $2.2800 	 $2.6244 	 +.5326 	 245,000 	 Texas Gas Transmission Corp.-Zone SL FT Pool
  MIDCONTINENT
     MichCon, citygate 	 $2.9000 	 $2.2500 	 $2.8052 	 +.6308 	 219,800 	 Michigan Consolidated
     NGPL Midcont 	 $2.5900 	 $2.2300 	 $2.4805 	 +.6875 	 221,700 	 Natural Gas Pipeline Co. of America, Mid-Continent Pool
     NGPL Nicor, citygate 	 $2.7975 	 $2.1300 	 $2.6082 	 +.5992 	 1,231,800 	 Natural Gas Pipeline Co. of America, Nicor Citygate
     NGPL NIPSCO, citygate 	 $2.8000 	 $2.5400 	 $2.7380 	 +.7435 	 107,500 	 Natural Gas Pipeline Co. of America, Nipsco Citygate
     NNG Demarcation 	 $2.7000 	 $2.1250 	 $2.4831 	 +.4382 	 214,200 	 Northern Natural Gas, Demarcation Pool
  NORTHEAST
     Columbia TCO 	 $2.9100 	 $2.2900 	 $2.7287 	 +.5870 	 533,300 	 Columbia Gas Co. - TCO Pool
     Dominion So.Point 	 $3.1000 	 $2.7800 	 $2.8973 	 +.5502 	 235,300 	 Dominion - South Point
     TETCO M3 	 $3.3100 	 $2.8000 	 $3.0520 	 +.5224 	 218,400 	 Texas Eastern - M3 Zone
     Transco Z-6 (NY) 	 $3.4100 	 $2.9000 	 $3.2445 	 +.6188 	 100,000 	 Transcontinental Gas Pipe Line Corp. - Zone 6 (NY)
  WEST
     El Paso non-Bondad 	 $2.4500 	 $2.1600 	 $2.3522 	 +.6445 	 183,900 	 El Paso - San Juan Basin, Blanco Pool
     Huntingdon/Sumas 	 $2.4500 	 $2.3200 	 $2.3958 	 +.5708 	 126,000 	 Westcoast Energy & Northwest Pipeline Corp.
     Opal 	 $2.4100 	 $1.9600 	 $2.2514 	 +.6931 	 109,800 	 Opal
     PG&E Citygate 	 $2.6500 	 $2.3800 	 $2.5525 	 +.5769 	 227,500 	 PG&E - Citygate
     SoCal Border 	 $2.7200 	 $2.4000 	 $2.5593 	 +.6743 	 208,000 	 Southern California Border Points (Ehrenberg,Topock,Needles)
  WEST TEXAS
     El Paso - Keystone 	 $2.5300 	 $2.3700 	 $2.4526 	 +.7034 	 606,000 	 El Paso - Keystone Pool
     Waha 	 $2.5700 	 $2.3800 	 $2.5118 	 +.6383 	 245,300 	 Waha Hub - West Texas

Includes all firm physical fixed price trades done from 7 AM to 11:30 AM Central Prevailing Time on the trade date specified for natural gas delivered on the specified date(s).
IntercontinentalExchange is the world's most liquid trading platform for over-the-counter energy and metals.  Active markets include North American power and natural gas, global crude and refined oil products, and precious metals.  Traded instruments include forwards, swaps, and options.
In order to receive the proprietary information contained in this email, you acknowledge and agree that you shall not further disseminate the IntercontinentalExchange Market Data contained herein to any person or entity without the express written consent of IntercontinentalExchange.   Furthermore, you acknowledge that (1) IntercontinentalExchange has exclusive and valuable property rights in this data; (2) IntercontinentalExchange's data is being made available to you only for your own business or personal activities; and (3) you cannot communicate the data, in any form, to any other person or entity without the express written consent of IntercontinentalExchange.
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To become an Exchange Participant or inquire about the indices, please contact sales@intcx.com.
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?Copyright IntercontinentalExchange, Inc. 2001, All Rights Reserved.


Please print and fax the email and the attachment.

I emailed Jeff and told him what I'm up to today, by the way.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/15/2000 09:50
AM ---------------------------

	From:  Ben F Jacoby @ ECT                           11/14/2000 07:45 PM

Sent by: Ben Jacoby@ECT
To: Kathleen Clark/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay
Mann/Corp/Enron@Enron
cc:

Subject: Re: Change Order #1 to ABB Purchase Agreement

I've made changes to the attached document. I modified the prior draft so
that the Purchase Amount is reduced by the full amount of the two
transformers being cancelled ($1.572 million), and so that the Cancellation
Charge of $323,200 be paid upon execution of the Change Order.

Kay, if you're OK with this, please forward to Sandridge for ABB's review and
approval.

Regards,

Ben

To: Ben Jacoby/HOU/ECT@ECT, Kay Mann/Corp/Enron@ENRON
cc: John.r.ayres@enron.com
Subject: Change Order #1 to ABB Purchase Agreement

Attached is a draft of Change Order #1 to ABB Purchase Agreement for your
review:

Please advise if you have any changes or comments.

Thanks.
Kathy
x56400


I do recall the conversations you and I had (actually a series of pages, I
believe), so I'll check with Rebecca and see if she still has those signature
pages.

Kay

"Keffer, John" <JKeffer@KSLAW.com> on 05/14/2001 11:42:27 AM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc: "Reuter, Marisa" <MReuter@KSLAW.com>

Subject: RE: NW escrow agreement

Kay-are you certain that Enron didn't sign it, because I recall that it was
signed (and the conversations we had about getting it signed)

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, May 14, 2001 10:45 AM
To: Reuter, Marisa
Cc: Keffer, John
Subject: RE: NW escrow agreement

Marissa,

I suppose that's because ENA didn't sign it, as I didn't notice it (opps).
It will probably be tomorrow since Ben will need to initial, as well as me.
Can you email me the sig page?

Thanks,

"Reuter, Marisa" <MReuter@KSLAW.com> on 05/14/2001 10:26:16 AM

To:   "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:   "Keffer, John" <JKeffer@KSLAW.com>

Subject:  RE: NW escrow agreement

Kay:

This past Friday, I received six original signature pages to the Letter
Agreement, but did not receive original signature pages to the Guaranty.
Could you forward the signature pages to the Guaranty at your earliest
convenience?

Thanks,

Marisa

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, May 14, 2001 8:54 AM
To: jkeffer@kslaw.com; mreuter@kslaw.com
Subject: NW escrow agreement

Hi there,

I believe Chris should be back today, so I wanted to follow up on this.

I don't have any recollection of where we left the escrow agreement with
NW.  Please get with MKahn or Jerry DeBerry to see if we can get consensus
on the current form of escrow agreement.  Once we have that, Enron (Chris)
will make contact with Citibank.

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
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message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

                    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.


Stacey,

Elliot and I would like to discuss a few issues with you regarding the MS RPS Comments.  What time do you think that you will have to discuss?

<http://www.energy.ca.gov/renewables/documents/index.html#greenpower>

F-1:  Need to require that all current renewable facilities, including all current existing boimass facilities are certified prior to the start date RPS

F-5:  Not sure that I understand the issue surrounding compliance on a product level - let's discuss

F-7:  While we are very pleased with the Division's inclusion of banking, we do not understand the need to restrict the limit on how much Supplier's are allowed to bank as the shelf life for Renewable Energy Credits is already limited to the two compliance periods immediately following.  We would also ask that you not limit the ability for Suppliers to transfer banked Renewable Energy Credits during the allowed compliance periods.  We feel that the Division should encourage as much liquidity as possible in the Renewable Energy Credit market.  We understand the Division's concern regarding transferable banking and potential problems with market power, however, we feel that the GIS Administrator is charged with closely monitoring potential market power situations.  We would prefer that the Renewable Energy Credit market be allowed to operate as indicated above from the beginning and if it is determined that market power issues exist then appropriate changes to the market can and should be implemented.  We feel that markets operate best with few restrictions.

F-9: Section 4. Not sure I understand the difference between the percentage of sales versus the actual MWh's - let's discuss

F-9: Section 5. Not sure that this language makes sense - let's discuss

-----Original Message-----
From: Bolton, Stacey
Sent: Thursday, October 25, 2001 7:17 AM
To: Ring, Richard; Mainzer, Elliot; Rishe, Frank
Subject: ma rps
Importance: High

all -
attached are the draft comments.  pls get me comments by noon.  frank, got your vm.  yes, we are submitting it as supplement to our oral comments tomorrow.  richard, can you please attach the CEC website.  I'm have awful difficulties with my dial up.

thanks,
stacey


------------------------------------------------------------------------------
------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

March 2, 2001 5:00pm through March 5, 2001 12:00am
------------------------------------------------------------------------------
------------------------

SCHEDULED SYSTEM OUTAGES:    ENA

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON NORTH AMERICAN LANS:       ALSO SEE ORIGINAL REPORT
Impact:  CORP
Time:  Fri 3/2/2001 at  10:00:00 PM CT thru Fri 3/2/2001 at  10:15:00 PM CT
 Fri 3/2/2001 at    8:00:00 PM PT thru Fri 3/2/2001 at     8:15:00 PM PT
 Sat 3/3/2001 at  4:00:00 AM London thru Sat 3/3/2001 at  4:15:00 AM London
Outage:  Reboot TRD-WAN-CR2
Environments Impacted:  London, New York Metals, St. Louis Metals, Skilling
Residence. The sites will lose connectivity for approx. three minutes.
Purpose: Tielines to the New York Metals office are down due to a bug in the
Cisco code.  Reloading the router is supposed to fix the problem
Backout:
Contact(s):  Robert Humlicek   713-853-6366

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING:      SEE ORIGINAL REPORT

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS:    SEE ORIGINAL REPORT

SITARA:   SEE ORIGINAL REPORT

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

SCHEDULED SYSTEM OUTAGES:   ESA

                            SEE ORIGINAL REPORT

------------------------------------------------------------------------------
-------------------------------------------------------
FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center
(713) 853-5536   Information Risk Management

Specific Help:
Unify On-Call      (713) 284-3757  [Pager]
Sitara On-Call     (713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS   (713) 639-9726  [Pager]
OSS/UA4/TARP    (713) 285-3165  [Pager]
CPR      (713) 284-4175  [Pager]
EDI Support      (713) 327-3893  [Pager]
EES Help Desk     (713)853-1741 OR (888)853-9797


Kate, verballed trade with Powerex, they show trade date as 4/26 as opposed
to our 4/25.  Please check with Mike.  Thanks


See attached letter


---------------------- Forwarded by Darron C Giron/HOU/ECT on 02/20/2001
03:01 PM ---------------------------

From:  Veronica Espinoza @ ENRON
               02/20/2001 09:38 AM

To: Larry Joe Hunter/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Kim S
Theriot/HOU/ECT@ECT, Melinda Whalen/CAL/ECT@ECT, Dianne Seib/CAL/ECT@ECT,
Janie Aguayo/HOU/ECT@ECT, Derek Bailey/Corp/Enron@ENRON, Kevin
Meredith/Corp/Enron@ENRON, Ellen Wallumrod/NA/Enron@ENRON, Celeste
Cisneros/NA/Enron@Enron, Diane Anderson/NA/Enron@Enron, Tiffany
Williams/NA/Enron@Enron, Cindy Feldman/CAL/ECT@ECT, Patricia
Boulanger/CAL/ECT@ECT, Linda Sietzema/CAL/ECT@ECT, Sharon
Crawford/CAL/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya
Rohauer/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT,
Russell Diamond/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Nidia
Mendoza/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Darron C
Giron/HOU/ECT@ECT, Walter Guidroz/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT,
Veronica Gonzalez/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Jean
Bell/HOU/ECT@ECT, Ken Curry/HOU/ECT@ECT
cc:
Subject: Credit Report--2/20/01


Do you want a GTC for short term or spot?  Please let me know what kind of
trades you anticipate and I will e-mail the form.

DP


So, are people in your area getting nervous? Is everybody looking for jobs
at other companies? There are only 3 companies left to interview with
through Duke for Tara. Under normal circumstances she could just contact a
bunch of other energy companies in Houston and probably get as good an offer
from one of them, but with thousands of Enron employees flooding the market,
who knows. Tara found out from a friend of hers at UT that a company called
Peabody in St. Louis is willing to hire anybody with experience at Enron.
Sweet Jesus, I could get season tickets!

-----Original Message-----
From: Jason.Wolfe@enron.com [mailto:Jason.Wolfe@enron.com]
Sent: Thursday, November 08, 2001 4:03 PM
To: eellwanger@triumphboats.com
Subject: RE: thinking of you

If there is an Enron next week, she will probably get an offer. Unless we
are owned by Dynegy.
Then I don't know. Either way, don't quit cleaning boats yet.

    -----Original Message-----
   From:   "Eric Ellwanger" <eellwanger@triumphboats.com>@ENRON
   Sent:   Thursday, November 08, 2001 2:48 PM
   To:     Wolfe, Jason
   Subject:  RE: thinking of you

   Do you still have a job? Tara is hearing some pretty nasty stuff about
   Enron. She's pretty worried that they are gonna renig on their offer.

**********************************************************************
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**********************************************************************


REMINDER

Here is the information for today's conference call.

	Wednesday, July 11
	1:00 to 2:00 p.m. Central Time

	dial-in number:  800-486-2460
	participant code:  675-923
	host code (Lawner):  263-406

Leslie, if you need assistance during the call, please press "# 0".

From:	Leslie Lawner@ENRON on 07/06/2001 09:32 AM
To:	James D Steffes/NA/Enron@Enron, Rebecca W Cantrell/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Stephanie Miller/Enron@EnronXGate, Jeff Dasovich/NA/Enron@Enron, Roger O Ponce/HOU/EES@EES, Mark Courtney/HOU/EES@EES, Greg Sharp/HOU/EES@EES, Marianne Castano/HOU/EES@EES, Donald M Black/Enron@EnronXGate, Phillip K Allen/Enron@EnronXGate
cc:	Harry Kingerski/NA/Enron@Enron, Paul Kaufman/Enron@EnronXGate, Rubena Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject:	California gas intrastate matters

There will be a conference call Wed. at 1:00 pm Central, July 11, to discuss California intrastate gas issues.  Rubena Buerger will send out the call in information.

Items to be addressed are:  LDC hedging, unbundling rates and infrastructure needs. Jeff Dasovich will give us a status report on these issues and we then discuss where to go from there.


Steve, I attach a further draft of the presentation incorporating comments
from John Sherriff.

I have made the following changes:

Cover Page. Listed key themes in the notes
Benefits of Liberalization. Expanded reference to "Improved allocation of
risk"
Benefits- Cost Savings graph. Simplified graph by removing OECD average
Benefits - What went wrong in California. Reworded
Benefits - Improved Customer Choice. Deleted
Policy Goals. Deleted
Successful Transition to Deregulation. Deleted reference to "phased
liberalization"
Successful transition to Deregulation. Replaced reference to "investment"
with reference to "independent regulator"
Transition issues and Solutions. Replaced reference to "Germany" with the
"Netherlands"
Today's New Economy. Deleted reference to "Winner Takes All"
Components of Transformation Process. Moved a number of industries to
"Transformed Markets" category
Enron and the Japanese Market. Referenced broadband
Conclusion. Changed the last bullet point.


Would you guys please give the latest CGAS number for CES?  You know, thats
where you give the total volume delivered by day on ENA, CALP, and Dayton
transport.

Thanks


Company: 002909     Arng: 39229-15732     Eff Date: 2001-11-21

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

Nominated                     9,700                     0
Working                       9,700                     0
Capacity Allocation           9,700                     0
Confirmed                         0  CBL                0


The EES VaR for today is $15.6 million, up from $14.0 million yesterday, due
to the additional short positions added at NP and SP in the Power West
portfolio.  The VaR should decrease once the short positions associated with
the University of California facilities are removed.