Get with Nowlan and talk to Andy Zipper on this.  There are a number of
options for us with brokers, and Andy has been involved in this aspect of our
business for some time.   I'd like to hear your views.  Thanks.

Jeff

Chris Glaas
11/14/2000 01:06 PM
To: Jeffrey A Shankman/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Chris
Mahoney/LON/ECT@ECT
cc:
Subject: EOL and the brokers

I have been contacted by ICAP and Man regarding different co-ops between EOL
and the services provided by these brokers. Icap wants Enron to be the market
maker for the ICAP electronic system (swap-net) , MAN wants to represent EOL
to the market and act as a principal between Enron and Man customers.

There are benefits and draw-backs using the brokers. I have my views on the
matter.

Jeff, what is our policy for EOL regarding working with the brokers?

regards
chris glaas


Attached are the Global Counterparty set ups and sign-offs for Clickpaper
10-13-00, with GCP amendments in RED

Adnan Patel
.

Walter Guidroz
10/15/2000 12:53 PM
To: Camille Gerard/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON, Tanya Rohauer/HOU/ECT@ECT,
Paul Radous/Corp/Enron@ENRON, Tom Moran/HOU/ECT@ECT, Bradley
Diebner/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT,
Stacey Richardson/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Walter
Guidroz/NA/Enron@Enron
cc:
Subject: ClickPaper counterparty approvals, 10-13-00

Attached are new ClickPaper counterparty approvals for 10-13-00.  I tried to
get these out on Friday afternoon but Lotus Notes was down for everyone in
our group...

Walter


Mark - do you have historical information on the average price of gas sold
on enrononline vs the cig index.   This information would be helpful for us
in determining how much volume we would want to utilize on the enrononline
pricing.

		David Smalley
		Platte River Power Authority
		Phone:  970.229.5256
		Fax: 	 970.229.5223


Janet has already signed Change Order #2, so adding value to this one will
required that change order #3 be revised, then we would have to go back to
ESA for their approval. It would be easier on this end if we could pick up
the new stuff in this one to a subsequent change order?

I spoke to Lee Johnson yesterday about all the change orders, and a couple of
outstanding issues.  I am having difficulty getting GE's attention on the
facility agreements, and would prefer that the change orders not be given to
GE until I at least get a call back on the issue.  If this is a problem,
please let me know.

Kay

To: Alan Larsen/PDX/ECT@ECT
cc: Kay Mann/Corp/Enron@ENRON, Ben Jacoby/HOU/ECT@ECT,
Booth.christopher@enron.com

Subject: GE LM6K/Change Order #2, Rev9

Alan:

Attached is Change Order #2 which has been revised to add the additional
items you requested.  Please let me know if you have any changes or
comments.  Thanks.

Kathy Clark
713-345-6400


Seve,

Vicky worked for Risk Conferences in the past.
Who is the best person in London HR to fwd the resume to?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/06/2000
02:07 PM ---------------------------

"Vicky Windsor" <vjwindsor@hotmail.com> on 10/13/2000 03:16:52 AM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Re: From Vicky Windsor

Dear Vince,

I've attached my resume. Thank you so much for your help. I really
appreciate it.

Best regards,

Vicky

>From: Vince.J.Kaminski@enron.com
>To: vjwindsor@hotmail.com
>CC: Vince.J.Kaminski@enron.com
>Subject: Re: From Vicky Windsor
>Date: Thu, 12 Oct 2000 15:55:57 -0500
>
>
>Vicky,
>
>Please, send me your resume.
>
>I shall forward it to a number of employees of  Enron in London
>with my strongest recommendation. I shall send you  the list
>of names. The resume will make it easier for me to
>identify good targets.
>
>Please, make sure you will contact me if there is no reaction.
>People here are very busy and, as you know, things fall through the cracks.
>
>Vince
>
>
>
>Vince
>
>
>
>
>"Vicky Windsor" <vjwindsor@hotmail.com> on 10/11/2000 04:49:56 AM
>
>To:   vkamins@enron.com
>cc:
>Subject:  From Vicky Windsor
>
>
>Dear Vince,
>
>How are you? Well I hope.
>
>I hope you don't mind me writing to you. You may remember that 5 months ago
>I left Risk Publications and moved to a charity. Having been here for only
>a
>few months, I have decided that this job is not for me (I miss the buzz of
>a
>corporate office) and I have decided to move back into the corporate
>sector.
>
>Because of my previous experience and knowledge of the energy sector, I am
>very interested in moving into this area. I have always thought that it
>would be great to work for Enron because it is such a dynamic company and I
>am planning to approach the London office to discuss any opportunities,
>which might be available. I am particularly interested in product marketing
>and research, although I am very open-minded at the moment. I wondered
>whether you could recommend the right person to speak to in London.
>
>I know that you are incredibly busy, but any help you can give me would be
>fantastic Vince.
>
>Thanks and best regards,
>
>
>Vicky Windsor
>
>_________________________________________________________________________
>Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
>
>Share information about yourself, create your own public profile at
>http://profiles.msn.com.
>
>
>
>
>

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.

 - CV to Vince Kaminski 13 Oct.doc


Our contact at EES is looking for a deal between Mike and Jubran at NP15 for
$124.00  She thinks the deal date should be 3/1 and we are buying calendar
year 2002.  I don't see anything in the system that looks like this. Can you
check with Mike.

Thanks!


On Friday, July 7 2000, the field detected a leak on the Wilson Creek Lateral
in Wharton Co.  Meter #0984284 was shut in at approximately 6:30 PM until
repairs are completed sometime today July 10, 2000.

If you have any questions please call.  36449

Thanks
Gary H
---------------------- Forwarded by Gary A Hanks/HOU/ECT on 07/10/2000 10:55
AM ---------------------------

	From:  Michael C Winders                           07/10/2000 06:13 AM

To: Gary A Hanks/HOU/ECT@ECT
cc:
Subject: Leak on Wilson Creek Lateral

The producer that was shut in was Zevex Production #4284-10 they flow about
.3 a day.


- Movie - Moulin Rouge - Cha Cha Cha.mp3


Here it is


Hey Don,

I need a little bit of info.  What time can the Mapp machine/printer go down the move weekend and how long can it stay down?

John:  We need to meet about this.  My office is open anytime, let me know.

Daniel A. Muschar
ECS Project Team Lead
Office: 713-853-4344
Cell: 281-541-6203
daniel.muschar@enron.com
CCNA, MCSE, CNA, A+


7:2 at 2:1

From:	Jennifer Fraser/ENRON@enronXgate on 04/17/2001 05:42 PM
To:	John Arnold/HOU/ECT@ECT
cc:
Subject:	RE: ng views + wager

new odds

Jen Fraser
Enron Global Markets Fundamentals
713-853-4759

 -----Original Message-----
From: 	Arnold, John
Sent:	Monday, April 16, 2001 7:44 AM
To:	Fraser, Jennifer
Subject:	RE: ng views + wager

i'll take 10:1 this morning

From:	Jennifer Fraser/ENRON@enronXgate on 04/16/2001 07:40 AM
To:	John Arnold/HOU/ECT@ECT
cc:
Subject:	RE: ng views + wager

thats pleasant

Jen Fraser
Enron Global Markets Fundamentals
713-853-4759

 -----Original Message-----
From: 	Arnold, John
Sent:	Sunday, April 15, 2001 3:29 PM
To:	Fraser, Jennifer
Subject:	RE: ng views + wager

eat my shorts

From:	Jennifer Fraser/ENRON@enronXgate on 04/12/2001 05:01 PM
To:	John Arnold/HOU/ECT@ECT
cc:
Subject:	RE: ng views + wager

3:1 and your on
Jen Fraser
Enron Global Markets Fundamentals
713-853-4759

 -----Original Message-----
From: 	Arnold, John
Sent:	Thursday, April 12, 2001 11:04 AM
To:	Fraser, Jennifer
Subject:	RE: ng views + wager

the implied market on that from put spreads is 5.3:1.    I'll take 4:1.    that's all the juice i'll pay.

From:	Jennifer Fraser/ENRON@enronXgate on 04/12/2001 07:59 AM
To:	John Arnold/HOU/ECT@ECT
cc:
Subject:	RE: ng views + wager

Most import  - the wager - I will take the over on May NG (4.95). 2:1 is okay--- $5 per penny okay?

Agree - Products
Rally is not different for products. 92% of heating oil is made ondemand  (storage is not as important as in nat gas) Heat will get ugly this October and then give it up (unless we have 7 blizzzards in the Northeast very early).
SOme things to consider :
1- in the next 3-4 weeks we will finish the very heavy maintenance season and be in full blown gasoline season.
- yields will be preferentially shifted for HU
3- nobody will pay any attention to HO
2-HO will have incremental demand due to utlity switching and will quietly build slower than last year
4- therefore by September everyone will freak out
5- After the OCtober contract expires (HO) , everyone will realize (similar to NG) that the world will not end.

Where does this get us:
1- Sell q3 HU crack and by Q4HO crack (By the time q3 prices out--the wind will have been taken out of HU sails - plus you can do it month avg--therefore less noise)
2-Benefit from heat's recent excitement -- sell HO calls (June -Aug), buy ng puts nov-jan

Ng-Disagree:
I think prices stay high through June. The big drop off come some where in July 15 to Aug 15 and downhill from there. (Looks like 1998)

Jen Fraser
Enron Global Markets Fundamentals
713-853-4759

 -----Original Message-----
From: 	Arnold, John
Sent:	Wednesday, April 11, 2001 10:41 PM
To:	Fraser, Jennifer
Subject:	Re: ng views

the only change that's happened to my long term outlook has been that the weather in the short term has been more bullish and we'll have 30 or so bcf less storage than i was anticpating in two weeks.  so yea, my curve is a touch higher, but it doesnt change my longer term view.  most of the move this week was a short sqeeze of spec shorts combined with a strong heat market.  a little concerned about heat, but also saw products very strong going into the season this past winter only to stage a huge failure.  not convinced this rally in products is different.

From:	Jennifer Fraser/ENRON@enronXgate on 04/11/2001 09:04 AM
To:	John Arnold/HOU/ECT@ECT
cc:
Subject:	ng views

where's your curve now?
MAy
June
Jul
Aug
Sep
Oct
Nov
Dec Jan 02

Jen Fraser
Enron Global Markets Fundamentals
713-853-4759


Hey, I have an idea......

	Alma Martinez/ENRON@enronXgate
	01/29/2001 02:21 PM

		 To: Jeffrey A Shankman/HOU/ECT@ECT
		 cc:
		 Subject: RE:

Hi

Weekend was fun.  I went out dancing with the girls.  I went to a super bowl
party.  But I only went for the food.  I'm not crazy about football.

 -----Original Message-----
From:  Shankman, Jeffrey
Sent: Monday, January 29, 2001 1:18 PM
To: Martinez, Alma
Subject:

How was the weekend?  Mine was good--I met Dennis Hopper, the actor.  He is
one cool dude.  I'm thinking about taking a long weekend vacation.  Where
sounds fun?


>From: "michelle luu nguyen" <mluu219@hotmail.com>
>To: brittanyhoang_2000@yahoo.com, bsmith219@yahoo.com,
>cacciotti@excite.com, chi325@hotmail.com, vnguyen922@yahoo.com,
>jluu529@yahoo.com, kprice8@hotmail.com, PRAYR786@aol.com, mm1130@aol.com,
>moniquepham@hotmail.com, nehavora@pzlqs.com, natoriousnick@yahoo.com,
>roberthai@hotmail.com, djonly@hotmail.com, SujRao@excite.com,
>bigtamnguyen@hotmail.com, soncale@texas.net, cnguyen@prde.com,
>xifu_phd@hotmail.com, thnguyen@wcom.net, snguyen@totalsafetyinc.com
>Subject: Mini Me
>Date: Fri, 17 Nov 2000 09:20:18 CST
>
>
>
>
>>From: "Carolyn" <cik18@hotmail.com>
>>To: "Warren Cabanos" <war521@hotmail.com>, "Thuy Nguyen"
>><tcnguy@Bayou.UH.EDU>, "Tom Nguyen" <The-Ngoc.D.Nguyen@uth.tmc.edu>, "Minh
>>Chu" <mbc622@hotmail.com>, "Michelle Luu Nguyen" <mluu219@hotmail.com>,
>>"Marcia Carungcong" <mcarungcong@sprintmail.com>, "Edith Acosta"
>><ediebitty@hotmail.com>, "Carolyn King" <cik18@hotmail.com>
>>Subject: Fw: Mini Me...
>>Date: Thu, 16 Nov 2000 20:32:03 -0600
>>
>>
>>----- Original Message -----
>>From: <jilygrace.vargas@abnamro.com>
>>To: <flipchic@tamu.edu>; <frc521@pdq.net>;
>><RLeighton@appraisalinstitute.org>
>>Sent: Thursday, November 16, 2000 8:45 AM
>>Subject: Mini Me...
>>
>>

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.

 - mini_me.gif


Have you found anything that would help us determine how the gas should be
allocated between Vastar and HPL in the absence of a contract, or is this
something commercial will have to work out with the counterparty?  Thanks.


lets do Mon at lunch.  call you to confirm.


Daren,
Will there ever be a need to utilize transport to get supply to the plant
other than through the 2 Lone Star agreements? If so, would we be using
Tenaska transport agreements or ENA?


Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490

	Outlook Migration Team@ENRON
	06/07/2001 11:04 AM

		 To: Suzanne Adams/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Michelle
Cash/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Nancy
Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Eddy Daniels/NA/Enron@Enron,
Angela Davis/NA/Enron@Enron, Stacy E Dickson/HOU/ECT@ECT, Andrew
Edison/NA/Enron@Enron, Janette Elbertson/HOU/ECT@ECT, Genia
FitzGerald/HOU/ECT@ECT, Nony Flores/HOU/ECT@ECT, Robert H
George/NA/Enron@Enron, Diane Goode/NA/Enron@Enron, Linda R Guinn/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Ed B Hearn
III/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT,
Legal Temp 1/HOU/ECT@ECT, Legal Temp 2/HOU/ECT@ECT, Legal Temp 3/HOU/ECT@ECT,
Legal Temp 4/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Matt
Maxwell/Corp/Enron@ENRON, Travis McCullough/HOU/ECT@ECT, Claudia
Meraz/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT,
Janet H Moore/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, Marcus
Nettelton/NA/Enron@ENRON, Mary Ogden/HOU/ECT@ECT, Debra
Perlingiere/HOU/ECT@ECT, David Portz/HOU/ECT@ECT, Elizabeth
Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Linda J
Simmons/HOU/ECT@ECT, Carlos Sole/NA/Enron@Enron, Carol St Clair/HOU/ECT@ECT,
Twanda Sweet/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Steve Van
Hooser/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT, Alice
Wright/NA/Enron@Enron, Theresa Zucha/NA/Enron@Enron
		 cc:
		 Subject: 2- SURVEY/INFORMATION EMAIL

Current Notes User:

To ensure that you experience a successful migration from Notes to Outlook,
it is necessary to gather individual user information prior to your date of
migration.  Please take a few minutes to completely fill out the following
survey. Double Click on document to put it in "Edit" mode. When you finish,
simply click on the 'Reply With History' button then hit 'Send'  Your survey
will automatically be sent to the Outlook 2000 Migration Mailbox.

Thank you.

Outlook 2000 Migration Team

------------------------------------------------------------------------------
--------------------------------------------------------------

Full Name: Debra Perlingiere

Login ID:  dperlin

Extension:  37658

Office Location:  3885

What type of computer do you have?   Laptop

Do you have a PDA?  NO

Do you have permission to access anyone's Email/Calendar?
NO

Does anyone have permission to access your Email/Calendar?
  NO

Are you responsible for updating anyone else's address book?
NO

Is anyone else responsible for updating your address book?
NO

Do you have access to a shared calendar?
NO

Do you have any Distribution Groups that Messaging maintains for you (for
mass mailings)?
NO

Please list all Notes databases applications that you currently use:
ECT  Gas Contracts
In our efforts to plan the exact date/time of your migration, we also will
need to know:

What are your normal work hours?  From:   9   To:     6

Will you be out of the office in the near future for vacation, leave, etc?
       If so, when?        From (MM/DD/YY):      To (MM/DD/YY):    no


Do you know if they got these same numbers from John?

Stacey

 -----Original Message-----
From: 	Trevino, Susan
Sent:	Thursday, January 24, 2002 4:36 PM
To:	Evans, Casey; Abel, Chris
Cc:	White, Stacey W.
Subject:	RE: 1/23 East Power Position

Thanks.

 -----Original Message-----
From: 	Evans, Casey
Sent:	Thursday, January 24, 2002 4:29 PM
To:	Abel, Chris; Trevino, Susan
Cc:	White, Stacey W.
Subject:	1/23 East Power Position

Here are East Wholesale Power Positions for 1/23 in MWHrs:

Total Peak	(10,426,952)
Total Off-Peak	  (6,812,419)

Grand Total	(17,239,371)

Thanks!
Casey


It is really not the record retention policy that drives this decision, it is
the open subpoena from the CPUC and the fact that we have been sued. Gary
Fergus is going to draft a memo for your signature.

	Tim Belden
	03/02/2001 09:38 AM

		 To: Christian Yoder/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT,
gfergus@brobeck.com
		 cc:
		 Subject: Hard Copy Retention Policy

we are about to move a bunch of desks up here.  as people move their desks,
they will surely be going through old files and reports.  i want to make sure
that we are in compliance with data and file retention policies.  could you
please advise me on the need to send out a communication reiterating what the
hard copy retention policy is?


CALENDAR ENTRY:	APPOINTMENT

Description:
	2001 Summer Operations Meeting

Date:		5/14/2001
Time:		8:00 AM - 5:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Mohammed

What's going on? I hope school is going well. I am sure you have heard but things are getting back to normal around here. I think working for UBS is going to be really good. Seems like the cultures are going to mix really well. I am thinking about buying a porsche. I really like the 993's but I don't really like the 996's. Looking around for a nice low km 1994-97 C4. Anyway don't work too hard and keep in touch.

Chris


As I mentioned the other day, one of the possible ways to receive high volume of gas from our customers is to design and construct new compression facilities adjacent to TW mainline around Atoka-2 in Eddy County area. Ofcousre the 550 mmcf/d capacity figure between WT-1 and Station-9 stays the same. This scenario would only ties the gas to the existing mainline capacity.

Based on our meetings, I thought if TW pursues this we might get some of this gas supply to our system and I have made the following assumptions :

n	BP has 50 mmcf/d at 750 psig
n	Agave   75 mmcf/d at 750 psig
n	NGPL   42 mmcf/d at 750 psig

   Total             167 mmcf/d.

To tie 167 mmcf/d to TW-36" at 950 psig pressure would require 4,000 hp recip units.
The estimated "A" release cost (+-30%) is approximately $6,000,000.

If you have any questions/ comments please call.


This message is intended for eHRonline users only.

Due to a recent change to eHRonline, the URL (aka "Web address") for
accessing eHRonline needs to be changed on your computer.  The change
involves adding the letter "s" to the "http" reference in the URL.  The URL
for accessing eHRonline should be:   https://eHRonline.enron.com.

This change should be made by those who have added the URL as a favorite on
the browser.


As a follow up to my message last week on charges for Analysts, I am
attaching the file that Financial Operations used to charge your RC with the
$6,400 in monthly costs that I detailed below.  I have received a few calls
and E-mails stating that some reclasses need to be made because you no longer
have an analyst in your group.  The information used by Financial Operations
to charge your RC was obtained from the Org Database.  Please review the
attached files for January and February to ensure that the proper RC was and
is going to be charged.  If you have any corrections, please contact Brian
Heinrich at Ext. 5-7677 ASAP since journal entries will need to be processed
by this Friday, March 3rd.

If you have any questions, please call me.  I just want to let everyone know
that it is important that we continue to keep the Org Database updated as
changes are made.  It is and will continue to be the source of headcount
information for Energy Operations.  Thank you for your continued support in
this process.

Lisa Cousino
x3-6343

--------------------- Forwarded by Lisa B Cousino/HOU/ECT on 03/01/2000 06:52
PM ---------------------------

Brian Heinrich
02/28/2000 01:44 PM
To: Lisa B Cousino/HOU/ECT@ECT
cc:
Subject: AA Headcount

Lisa,
This is the file we used for January, and the one for February.
Brian

Lisa B Cousino
02/24/2000 01:13 PM
To: Kristin Albrecht/HOU/ECT@ECT, Thresa A Allen/HOU/ECT@ECT, Evelyn
Aucoin/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, Theresa
T Brogan/HOU/ECT@ECT, Diane H Cook/HOU/ECT@ECT, Kathryn Cordes/HOU/ECT@ECT,
Lisa Csikos/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Jennifer deBoisblanc
Denny/HOU/ECT@ECT, Michael Eiben/HOU/ECT@ECT, Thomas Engel/HOU/ECT@ECT,
Hunaid Engineer/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Mark
Friedman/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT, Scotty Gilbert/HOU/ECT@ECT,
Carolyn Gilley/HOU/ECT@ECT, Sheila Glover/HOU/ECT@ECT, Mary G
Gosnell/HOU/ECT@ECT, Donna Greif/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Jeff
Harbert/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Susan Harrison/HOU/ECT@ECT,
Brenda F Herod/HOU/ECT@ECT, Carrie Hollomon/HOU/ECT@ect, John
Jacobsen/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT,
Roy Lipsett/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT, Michael E
Moscoso/HOU/ECT@ECT, Gary Nelson/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT,
Eugenio Perez/HOU/ECT@ECT, Scott Pleus/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Dorothy Ricketts/HOU/ECT@ECT,
Stephen P Schwarz/HOU/ECT@ECT, Russ Severson/HOU/ECT@ECT, George
Smith/HOU/ECT@ECT, Mary M Smith/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT,
Jefferson D Sorenson/HOU/ECT@ECT, Martha Stevens/HOU/ECT@ECT, Robert
Superty/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Kim
S Theriot/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Steve
Venturatos/HOU/ECT@ECT, Melissa White/HOU/ECT@ECT, Stacey W
White/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON,
Bennett Kaufman/HOU/ECT@ECT, Kimberly S Olinger/HOU/ECT@ECT, Laurel
Adams/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT
cc: Brian Heinrich/HOU/ECT@ect, Jennifer Blay/HOU/ECT@ECT, Kimberly
Perkins/HOU/ECT@ECT, Angela Henn/HOU/ECT@ECT, Marvia Jefferson/HOU/ECT@ECT,
Sandra R McNichols/HOU/ECT@ECT, Maria Sandoval/HOU/ECT@ECT, Alex
Saldana/HOU/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT, Chantelle
Villanueva/HOU/ECT@ECT, Gretel Smith/HOU/ECT@ECT, Heather Choate/HOU/ECT@ECT,
Irena D Hogan/HOU/ECT@ECT, Julissa Marron/Corp/Enron@ENRON, Kelly
Templeton/Corp/Enron@ENRON, Lisa Shoemake/HOU/ECT@ECT, Lorraine
Becker/HOU/ECT@ECT, Lynn Tippery/HOU/ECT@ECT, Ragayle Pellum/HOU/ECT@ECT,
Rosalinda Resendez/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON, Patti
Thompson/HOU/ECT@ECT
Subject: Monthly Charges for Analysts on your RC report

I wanted to let all of you know how you will be charged for Analysts if you
currently have or will have one in your RC for the year 2000.  The analyst
program is being handled differently than it was in 1999.  In addition to the
normal salary, benefits and payroll taxes, you will also be charged an
overhead administration fee for the program.  You will be charged the
following MONTHLY amounts for each analyst in the Detail Class code that I
have indicated below:

Detail Class  Description   Amount
      1  Salaries and Wages                   $4,000
        552  Benefits                         774
        557  Payroll Taxes                         360
        820  Corporate Services                      1,266
    Total MONTHLY Cost                   $6,400

The $4000 amount represents an average of all analyst salaries and does not
indicate what the analyst in your RC is paid.  This amount will not change in
February as the $4000 already includes merit raise information for 2000.

The $1266 represents the overhead costs of administering the program,
including campus recruiting and office visits.

When you look at your RC report, you will see a line item labeled  "A and A
Reclass" in each of the Detail Classes identified above.  Enron North America
is invoiced by Corp. for the costs of all analysts.  Financial Operations
makes a manual Journal Entry each month to charge the appropriate RC.  Please
check your January 2000 RC report and make sure you were properly charged for
the correct number of analysts you have currently.  If there are any errors,
please let me know as soon as possible so that I can work with Brian Heinrich
to have it corrected in February.  Please continue to check your RC report
each month going forward.  Thanks.

If you have any questions, please call me.

Lisa Cousino
x3-6343


I'll be out of the office this afternoon and tomorrow. Tuesday and Wednesday
of next week I'll be working in another Enron office, and will be traveling
back to Houston on Thursday. I'll be checking my voicemails regularly and
Joyce can reach me in an emergency.

Joel will be covering for me on Raptor matters in my absence, although I
haven't attempted to get him up to date on the hedging issues we've been
discussing over the last week or so given the fact that I believe we've
essentially finished working through how we do these and given the relative
complexity of the issues here.


This week's Lite Bytz presentation will feature the following BIZ speaker:

Bob McAuliffe
Command Center
Thursday, May 31, 2001

If you have not already signed up, please RSVP via email to litebytz@enron.com by the end of the day Tuesday, May 29, 2001.

*Remember: this is now a Brown Bag Event--so bring your lunch and we will provide cookies and drinks.

Click below for more details.

http://home.enron.com:84/messaging/litebytzemail529.jpg


That will work just fine!  Just let me know where to meet.  SS

	Enron Capital & Trade Resources Corp.

	From:  Carson Llewellyn <carlew@flash.net>                           06/22/99
09:17 AM

Please respond to carlew@flash.net
To: Sara Shackleton/HOU/ECT
cc:
Subject: Lunch

Sara

How about lunch this Friday, 6/25/99 about 11:45am? I will come
downtown.

Carson


Vince:  Do you want me to resond to Jim?

Shirley

-----Original Message-----
From: Jim Garven [mailto:James_Garven@baylor.edu]
Sent: Friday, November 02, 2001 9:14 AM
To: Crenshaw, Shirley
Subject: confirmation of Vince Kaminski's 11/15-11/16 campus visit to
Baylor University
Importance: High

Dear Shirley,

I have emailed and voice mailed Vince about confirming his scheduled
11/15-11/16 campus visit to Baylor University, but I haven't heard back
from him yet.  I have him scheduled to present to students on 11/15 from
11-2, and on 11/16 to present a seminar to the finance faculty.  I also
have a room reserved for him at the Judge Baylor house in Waco for the
evening of 11/15.  My colleagues and I plan to take him out to dinner on
the evening of 11/15.

Anyway, can you confirm these plans for me?

Thanks,

Jim Garven

_________________________________________
James R. Garven, Ph.D.
Professor of Finance & Insurance
Department of Finance, Insurance and Real Estate
Hankamer School of Business
HSB 336
Baylor University
Box 98004
Waco, TX  76798

Voice: (254) 710-6207
Fax: (603) 994-6680

E-mail: James_Garven@baylor.edu
Home Page: http://garven.baylor.edu
Vita: http://garven.baylor.edu/dossier.html
Research Paper Archive: http://garven.baylor.edu/research.html
_________________________________________


Thank you for the info.  I call if I have questions after I review further.

	Enron North America Corp.

	From:  Rebecca W Cantrell                           02/01/2001 05:53 PM

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Tennessee Purchase of Physical Gas

Scott, this is all I could find about Tennessee's right to buy system gas.
There was nothing specific to fuel, and of course nothing at all about
financial transactions.  I don't read it to prohibit them from buying on a
forward basis, but they would probably be at risk if prices moved against
them too much.

Basically, Tennessee can buy or sell gas as required to balance and to
maintain system integrity.  And they can buy or sell it either (1) on a first
come/first served basis at posted prices, (2) through an auction or gas
trading system, or (3) through direct negotiations.  They no longer have a
fuel tracker.  Since they are supposed to be retaining fuel from their
transportation customers, they shouldn't be buying fuel, per se.

The Order 497 regulations deal only with information about transportation, so
Tennessee would not be required, absent a tariff provision, to post or report
its purchases from affiliates at the time it does them.  They do, however,
have to file a report of their cashout transactions, including any purchases
they make for balancing.  If one suspected they had overpaid their affiliate
for such gas purchases and it could be substantiated in the filing, the issue
could be raised in the cashout report proceeding at FERC.  Purchases made for
system integrity purposes, if not tied to cashout, would have to be addressed
in the next rate case.

         Fifth Revised Sheet No. 209A
                           Schedule LMS - MA
                        Load Management Service - Market Area (continued)

                  (ii)  Operational Transactions:  Operational Transactions
are those
                        Operational Purchases and Operational Sales which
Transporter may from
                        time to time, in its discretion, enter into with
third parties to
                        balance Transporter's system and to maintain
operational integrity.
                        Pursuant to this Section 7(g)(ii),  Transporter may
purchase gas
                        quantities for receipt into its system and may sell
gas quantities for
                        delivery out of its system.  These Operational
Transactions may be
                        conducted on a first-come/first-served basis at
posted prices, or
                        pursuant to an open auction or electronic gas trading
system, or
                        negotiated directly with third parties.

                        The Operational Transactions utilized to reconcile
Net Cashout
                        Activity pursuant to Section 7(g)(i) Item No. 2 of
this Rate Schedule
                        must occur during the Annual Cashout Period;
provided, however, that
                        if the quantity of Operational Purchases or
Operational Sales, as
                        applicable, is insufficient to offset the quantity of
Net Cashout
                        Activity, then an additional month of Operational
Transactions, ending
                        on September 30, thirteen months after the start of
the Annual Cashout
                        Period, shall be included in the Cashout Report in
order to reconcile
                        Net Cashout Activity.  Gas quantities from an
Operational Transaction
                        which are used to offset Net Cashout Activity in one
Cashout Report
                        cannot be used to offset cashout activity in a
subsequent Cashout
                        Report.

                  (iii) Annual Cashout Report:  Transporter shall include in
the Cashout
                        Reports filed pursuant to this Section 7(g) monthly
detail for Item
                        Nos. 1, 4 and 5 as described in Section 7 (g)(i).
Such detail shall
                        include a listing of monthly imbalances in dekatherms
 and dollars by
                        cashout shipper in support of the cashout activity in
the report.
                        Transporter will include a list in the Cashout Report
of all
                        Operational Purchases and Operational Sales
transactions by month
                        during the applicable Annual Cashout Period, plus the
additional month
                        provided pursuant to Section 7(g)(ii), if applicable,
and will show
                        the derivation of the weighted average price of the
Operational
                        Transactions utilized to reconcile Net Cashout
Activity for the Annual
                        Cashout Period as described in Item No. 2 in Section
7(g)(i).  In
                        addition, Transporter shall include in the Cashout
Report detailed
                        support for any required Balancing Entry, Balancing
Entry Pricing and
                        Balancing Entry Pricing Adjustment pursuant to Item
No. 3 of Section
                        7(g)(i) of this Rate Schedule.


How much of the NIMO capacity (about 15,000 day of North to North) was
dedicated to retail?

From what I'm seeing, the retail volumes are looking fairly small.

pdrexel@columbiaenergygroup.com on 12/27/99 02:39:46 PM
To: Dan Junek/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
cc:
Subject: NIMO JAN 2000

Here are some more
---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on
12/27/2000 02:45 PM ---------------------------

Heidi Boyd
12/27/99 02:25 PM

To: Morgan Sharifi/CES/ColumbiaGas@ColumbiaGas
cc: Noel Bartlo/CES/ColumbiaGas@ColumbiaGas, Paul
Drexelius/CES/ColumbiaGas@ColumbiaGas
Subject: NIMO JAN 2000

FINAL

Hi Morgan,

Please schedule the following (in DTH's) off of CNG to Niagra Mohawk:

Pooled  East Meter 20550 821/day
  West Meter 20500    421/ day

Balanced East Meter 20550 381/day
(firm)  West Meter 20500 430/day

Thanks!


I asked my new hire to suggest names of people that she knows that would be
good for to consider hiring.  Here is her response.  Tony Vasut had called
her and asked for this list as well.  Do you have him keyed in on our blitz
effort for hiring of risk personnel?  Or is he working on some other
initiative?  I have not reviewed the names nor Shona's comments in detail
yet, but I wanted to pass these along for inclusion in our efforts.  --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 05/25/2000 02:39 PM
---------------------------

	From:  Shona Wilson @ ENRON                           05/25/2000 09:00 AM

To: Tony Vasut/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT
cc:
Subject: People to consider recruiting

As requested, I've created a list of people who:
have mentioned to me that they are interested in changing careers/companies or
I think would be a great asset to Enron.

I've jotted down what I know about each person and I hope you find it
useful.  I've organized it from most experienced to least experienced.  If
you would like to talk me about any of these people or ask me to contact
them, just let me know.

Andy Dunn - until 2 weeks ago he was a director in the PwC risk management
practice.  Due to a falling out between Andy and the partners (not client
related), he left the firm.  He is extremely well respected by both the audit
and the non-audit personnel, and his leaving came as an unexpected surprise.
I have worked with him on a number of occasions and would highly recommend
him to Enron.  The downside to Andy is that he lives in Denver, is used to
travelling a lot, but, at the last time we spoke (a few months ago), is not
interested in leaving Denver.  His cell phone (if still in use) is 303 807
0040.

Mark (Allan) Smith - Mark is in the PwC energy risk management practice in
Houston.  We worked very closely together throughout 1999 on projects for
Coral Energy and Equiva trading.  Prior to working at PwC, Mark was at BP for
15 years where he had many different roles (he worked as a crude trader,
products trader, he worked in the risk management department, in the refinery
itself as an engineer).  Mark was excellent to work with.  Clients are
extremely impressed with his knowledge and background.  I would highly
recommend him for a leadership role at Enron.  I spoke to him yesterday and
he is interested in talking with you.  His direct number is 713 356 4233.
His cell phone number is 713 412 3890.

Alan Beaton - senior manager KPMG's systems control group (IRM).  He works
with my husband.  I know him on a personal basis.  He is trying to find
opportunities outside of the audit/consulting area (general line 713 319
2000).

Marilyn Chee - She currently works for Equiva trading, manager in-charge of
accounting for derivatives.  Her role has expanded to encompass FAS 133 and
all mtm accounting entries.  She liases with all book heads (crude and all
products).  In the past, she worked in the Texaco internal audit department.
She was my main contact at Equiva when I was at PwC.  She is extremely
diligent and very professional.  I enjoyed working with her greatly and have
to say she was one of the best people I have worked with in the capacity of a
client/professional relationship.    Marilyn has a lot of responsibilities at
the alliance and is extremely well respected.  She has had a difficult year
as she is doing a job that should be done by 3+ people.  She has mentioned to
me that she is not happy about the fact that her load continues to increase,
and has even mentioned finding another job.  However, due to the fact that
she is so well respected where she is, she may be difficult to recruit (713
277 6280).  If you contact her I would not want my name associated with it
due to the PwC/alliance relationship.

Rebecca Crider - She has been working at Coral Energy for approximately a
year, reporting to the VP of risk control.  Before that she was an audit
manager at AA.  I have worked with her briefly and she seemed very
conscientious.  I do not know if she is looking or not, but its worth a try!
(713 230 3000 general line).

Kim Nelson - She is a manager in the risk group at AA, and just transferred
over from KPMG.  I have not met her, but I did hear that she is not doing
what she had expected at AA.  I don't know her number but you could reach her
at the general AA line.

Kevin Schroder - audit manager at KPMG in the energy department.  I do not
know him, but do know he is looking for opportunities outside the
audit/consulting area (general line 713 319 2000).

Keith Considine - He is currently a senior accountant at PwC.  He is the best
senior PwC Houston has, as well as probably one of the best people I have
ever worked with (the top of his class).  Although he only has 4 years of
work experience (all at PwC), he performs in a manager capacity.  He worked
for me on the Coral Energy audit engagement and received an excellent
evaluation from both myself and the partners (we all agreed that he is one of
the best people any of us have seen or worked with).  He is currently working
on a project at one of PwC's clients to standardize their mid office
processes .  He definitely does not see himself as a long time employee of
PwC, but is currently planning on staying there until he is promoted to
manager.  I actually recommended him for a promotion to manager at July 1
this year, but due to capacity issues, I don't expect that the promotion will
be approved. Since I've only been with Enron a short time and would like to
continue good relations with PwC, I would appreciate whoever contacts Keith
to elude that it is someone else other than myself who gave you his name. His
number is 713 356 5617.

Dave Simpson - analyst at Koch Energy in Houston, has a degree in accounting
and has work experience of about 9 months.  He is very interested in leaving
Koch.  I know him on a person basis, but have not worked with him.  He is a
good guy and very likeable.  I don't have his phone number, but should be
reachable through the general number for Koch.

Admin assistants

Connie Shugart - she is currently working at PwC as an administrative
assistant.  She is also involved in recruiting experienced personnel for
PwC's audit and internal audit service lines.  She is very interested in
Enron and has asked me a few times to get her a contact here.  I have not
worked directly with her but due to her close proximity to my office I talked
to her a number of times and was very impressed. (713 356 4000 - general PwC
number).

Ellen Robertson - She is an administrative assistant who is looking to leave
PwC.   I have never worked with her, but she did come to ask me my opinion on
how she should go about finding other work. (713 356 4000 PwC general line).


This has been changed - I guess old habits die hard, huh!

Thanks,
Kate

Evelyn Metoyer@ENRON
12/04/2000 10:07 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Deal 471553

 deal  471553 should be under Pinnacle West Capital Corporation  not APS.

Thanks!!


P.S.  Have discussed with Dorothy and will attempt to capture in my proposed
edits our discussion.

Best,
Jeff

	Jeff Dasovich
	Sent by: Jeff Dasovich
	07/09/2001 03:48 PM

		 To: <dhunter@s-k-w.com>
		 cc: Ann.Cohn@sce.com, "'Barbara Barkovich (E-mail)'"
<brbarkovich@earthlink.net>, "Dominic DiMare (E-mail)"
<dominic.DiMare@calchamber.com>, "'Dorothy Rothrock (E-mail)'"
<drothrock@cmta.net>, "'John Fielder (E-mail)'" <fieldejr@sce.com>, "'Phil
Isenberg (E-mail)'" <isenberg@hmot.com>, "'Jeff Dasovich (E-mail)'"
<jdasovic@enron.com>, "'Keith McCrea (E-mail)'" <kmccrea@sablaw.com>, "'Linda
Sherif (E-mail)'" <lys@a-klaw.com>, "'Linda Sherif (E-mail 2)'"
<lysherif@yahoo.com>, "'Gary Schoonyan (E-mail)'" <schoongl@sce.com>, "'John
White (E-mail)'" <vjw@cleanpower.org>
		 Subject: Re: REVISED Merged Leg Document

Thanks.  I have minor, but substantive, edits to the direct access section
that Dorothy did, which I believe more accurately capture the document that
we previously delivered to Hertzberg and the discussions around that
document.  My proposed edits will be distributed to everyone within the next
30-60 minutes.  Thanks to Delaney for all the work.

Best,
Jeff


Shirley,

We have not accepted him yet. I shall speak with him alone.

Vince

Shirley Crenshaw
08/01/2000 08:13 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Time

Vince:

David Dupre is wanting to meet with all the Research heads for a rotation
schedule.  Are you interested and do you want me to set it up?

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 08/01/2000
08:10 AM ---------------------------

David P Dupre
07/31/2000 05:26 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: Time

Hi,

I wanted to inquire as to which day(s) might be convenient to meet with Vince
and his colleagues.

Many thanks
David


---------------------- Forwarded by Scott Neal/HOU/ECT on 06/19/2000 05:05 PM
---------------------------

Barry Steinhart@ENRON
06/07/2000 02:32 PM
To: Jeffrey A Shankman/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT
cc:
Subject: LNG: FRANCE: PDVSA sees Enron LNG deal soon, seeks gas funds.

FYI

---------------------- Forwarded by Barry Steinhart/Corp/Enron on 06/07/2000
02:30 PM ---------------------------

djcustomclips@djinteractive.com on 06/07/2000 02:55:23 PM
Please respond to nobody@mail1.djnr.com
To: 196816@mailman.enron.com
cc:

Subject: LNG: FRANCE: PDVSA sees Enron LNG deal soon, seeks gas funds.

FRANCE:
PDVSA sees Enron LNG deal soon, seeks gas funds.

06/07/2000
Reuters English News Service
(C) Reuters Limited 2000.

NICE, France, June 7 (Reuters) - Venezuela's state oil company Petroleos de
Venezuela (PDVSA) said on Wednesday it expected to sign a contract with U.S.
energy company Enron by June 30 to construct an LNG plant in Jose with an
annual capacity of two million tonnes.

It has signed an agreement with Royal Dutch Shell , ExxonMobil and Mitsubishi
to begin construction of a four-million-tonne LNG plant in Paria by end of the
year.
"We could sign the contract to start the project (with Enron) by June 30...The
plant should be operational by 2004," Domingo Marsicobetre, chairman of
PDVSA's gas division, told reporters at the world gas congress in Nice.

"The project development agreement was signed with Shell, Exxon and Mitsubishi
last month. In September we will declare the viability of the project and then
create a (separate) Venezuelan LNG company (to run it). The milestone is
December," Marsicobetre said.

The Paria plant was expected to be operational by 2005, he said, adding that
the consortium hoped to explore further oil and gas in the Orinoco delta
platform, south of Trinidad, to add a second and third train to the plant. "In
August a decision will be taken by the shareholders," he said.

PDVSA would supply associated gas to the Jose plant, in which it would also be
a shareholder. The facility aimed to export mainly to the Caribbean and the
United States, he said.

The Paria plant was designed to export LNG to the north-east United States,
Spain and Portugal.

Marsicobetre said PDVSA Gas was seeking between $6 billion and $10 billion in
private investment to develop the production of non-associated gas, its LNG
projects and the Venezuelan gas grid.

Expanding non-associated gas and the gas grid would each absorb 30 percent of
that total sum while the two LNG facilities would need some $2.6 million. The
cost of developing oil and gas production in the delta platform was not
included in that calculation, PDVSA Gas executive Nelson Mava told reporters.

"If we move in a fast track we can have twice that investment," Mava said.

He said Venezuela, the world's seventh largest gas producer with proven
reserves of 146 trillion cubic feet (tcf), was counting on the development of
non-associated gas to meet rising domestic demand.

Venezuelan gas consumption was forecast to more than double by 2009, rising to
4.2 billion cubic feet a day from the current level of 1.8 billion. That meant
the percentage of gas in the fuel mix would rise to 55 percent from 42, Mava
said.

Of the current 142 tcf output, 132 tcf was associated and 14 non-associated.
But there were unexplored reserves of non-associated gas of 6-20 tcf onshore
and 40-60 offshore, he said.

((Gillian Handyside. Paris newsroom tel +33 1 4221 5343, fax +33 1 4236 1072,
gillian.handyside@reuters.com)).

Folder Name: LNG
Relevance Score on Scale of 100: 90

______________________________________________________________________

To review or revise your folder, visit http://www.djinteractive.com or
contact Dow Jones Customer Service by e-mail at custom.news@bis.dowjones.com
or by phone at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511
or contact your local sales representative.)
______________________________________________________________________

Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved


Sally,

I don't know whether you or Jean (or Paul?) should be doing the feedback
meeting.  If you will be doing it, please respond with your earliest
availability to conduct that meeting.  I am fairly open currently except for
3pm-4pm Mon-Thurs.

Thanks,

Grant W. Zimmerman
Enron Broadband Services
Phone:  (713) 853-6210
Fax:  (713) 646-8795


ALL:

Just to clarify a couple of points:

Paul/Denis below have clearly highlighted that london group cannot trade on
behalf of ENA.  I understand that the First Union trade was done as they had
an agreement in place with ENA but not .Com.  Bearing in mind, that London
traders have transacted on behalf of ENA, I expect that we should BTB these
trades with .Com ?  (Paul/Denis)

If so, I suggest going forward that where we have to do a trade for ENA we
get Mozam to do it with Markus' approval as he is based in Houston.  Assuming
that we get the service agreement in place, we can do the risk mgmt from
London.  If we do it like this then all other issues go away with the
exception of service agreements which need to be put in place.

I do not believe that it is correct to say that there is only one book.
(Paul)  We currently have one business,two books: one in london, one in
houston.  Each trade is booked against a specific book.  Bryan is quite happy
to have risk reside in each book assuming legal/tax/regulatory compliance.
There is NO other reason for BTB that I am aware of.

 All risk managment takes place here.  However we will not be able to pay out
of ENA accounts and will have to request them to do so.

It is quite clear that we have the necessary understanding of the issues to
resolve so let's get this done ASAP.  Bryan can you ask Mary to arrange a
meeting for Thurs/Fri.  Paul do you wish to conference in Houston on this ?

Regards

Dave

Janine Juggins
12/06/2000 19:56
To: Paul Simons/LON/ECT@ECT
cc: Denis O'Connell/LON/ECT@ECT, Bryan Seyfried/LON/ECT@ECT, Elaine
Bannerman-Sowah/LON/ECT@ECT, David A Wall/Risk Mgmt/LON/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Erica Gut/LON/ECT@ECT, Mahesh Lakhani/LON/ECT@ECT

Subject: Re: ENA / Enron Credit.com

The scenario outlined by Denis is consistent with advice previously provided
by the Tax group.

London based traders should be executing deals in the name of Enron
Credit.com  Ltd (not ENA.)

Houston based traders should be executing transactions in the name of ENA
(not Enron Credit.com Ltd).

Back to back transactions to transfer all positions to Enron Credit.com Ltd
will simplify financial and tax reporting if ENA will on a regular basis be
laying off positions acquired by Enron Credit.com Ltd. If ENA is simply
laying off positions acquired by ENA then strictly there is no need for the
back to back.

Assuming that all positions are in fact backed to Enron Credit.com Ltd an
agreed spread or fee will need to be awarded to ENA to compensate them for
their activity and risk assumed. Please note that Erica Gut and Mahesh
Lakhani will be providing tax support for the credit trading group in the
future and they will work with Denis to put the appropriate service
agreements/fee arrangements in place.

Regards
Janine

Paul Simons
12/06/2000 17:41
To: Denis O'Connell/LON/ECT@ECT
cc: Bryan Seyfried/LON/ECT@ECT, Elaine Bannerman-Sowah/LON/ECT@ECT, David A
Wall/Risk Mgmt/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Janine
Juggins/LON/ECT@ECT

Subject: Re: ENA / Enron Credit.com

I agree with Denis' remarks especially about there being a single book and
hence the need for matching terms and back-to-back trades. From a regulatory
perspective, you don't want to book ENA's trades in London since it is not
authorised to deals here and is not acting through EEFT, our SFA regulated
entity.  Hope this helps

Paul

Denis O'Connell
12/06/2000 14:01
To: Bryan Seyfried/LON/ECT@ECT
cc: Elaine Bannerman-Sowah/LON/ECT@ECT, David A Wall/Risk Mgmt/LON/ECT@ECT,
Paul Simons/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Janine Juggins/LON/ECT@ECT

Subject: Re: ENA / Enron Credit.com

As I understand it from a tax and legal perspectibe transactions booked in
ENA should be executed by a trader sitting in Houston.  As far as I am aware
there is no brokerage or agency arrangement with either EFT or
EnronCredit.com in this regard and therefore traders sitting in London should
not execute these transactions independently of the traders sitting in
Houston.

From a booking perspective in this type of situation generally a separate
trading book should be mainatined by ENA.  It may be acceptable for
EnronCredit.com to risk manage ENA's credit derivaties postions provided the
requisite service agreement has been put in place - this is really a question
for ENA - Mark ?.  I do not know if such a service agreement is in place.

Where a transaction is booked into ENA and not bt-backed with .Com the market
risk will reside with ENA - a btb with .Com would be necessary to consolidate
the mtm of the ENA credit derivatives business in .Com.  In view of the fact
that Bryan is viewing all credit derivatives business as a global book, all
credit derivatives business entered into by Enron entities other than
EnronCredit.com should be back-to-backed with .Com.  In situations where ENA
has sold protection and .Com has bought protection on the same name this
internal structure will permit ENA immediately Delivering on the Portfolio of
Deliverable Obligations it as received as the Seller of protection to .Com
which can in turn can Deliver on to the counterparty it has bought protection
from.  As a result all hedged trandsactions should have matched terms
regardless of the Enron booking entity.

Mark, Paul can you add further clarification as to the position (particularly
where I haven't hit the mark !).

tks,

Denis

Bryan Seyfried
11/06/2000 13:57
To: Elaine Bannerman-Sowah/LON/ECT@ECT
cc: Denis O'Connell/LON/ECT@ECT, David A Wall/Risk Mgmt/LON/ECT@ECT

Subject: Re: ENA / Enron Credit.com

In reality, I think of there being a single global book and terms should
match across internal legal entities.  The only reason for booking into two
separate entities is for Tax and/or regulatory reasons.  The risk is managed
out of London, I don't think there is any reason to back-to-back trades into
EnronCredit.com but will defer to the appropriate tax, legal and control
personnel.  I don't think a services agreement has been set up yet.

We should try to close the open issues next week.  Could you coordinate the
relevant parties to ensure satisfactory results.

thanks.

Elaine Bannerman-Sowah
09/06/2000 14:44
To: Bryan Seyfried/LON/ECT@ECT
cc: Denis O'Connell/LON/ECT@ECT

Subject: ENA / Enron Credit.com

Bryan

Please could you confirm that CDS trades done by ENA :

1.can be booked in London;
2. risk-managed in London
3. do not have to be back-to-backed with Enron Credit.com
4. there is a Service Agreement between the two entities.

My understanding of this is that we would not need to match the terms of
transactions, for example where ENA has sold protection and Enron Credit.com
has bought protection on the same name. We would only need to match the terms
where protection is bought and sold by the same Legal entity on the same name.

Your response will be greatly appreciated.

Thanks,
Elaine.


Yes - We have discussed that concept on a couple of different occasions.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Thursday, April 26, 2001 1:04 PM
To:	Miller, Don
Subject:	RE: New Albany

No I mean about them as a potential buyer further down the line.

From:	Don Miller/ENRON@enronXgate on 04/26/2001 11:00 AM
To:	Louise Kitchen/HOU/ECT@ECT
cc:

Subject:	RE: New Albany

Not yet.  I thought you spoke to him.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Thursday, April 26, 2001 10:39 AM
To:	Miller, Don
Subject:	Re: New Albany

Have you spoken to Chris about LV

From:	Don Miller/ENRON@enronXgate on 04/25/2001 06:11 PM
To:	Louise Kitchen/HOU/ECT@ECT
cc:

Subject:	New Albany

Louise,

Allegheny is no bid on New Albany.  They want to focus only on technology which allows for combine cycle conversion.  The turbines at New Albany do not accommodate combine cycle conversion.

They are interested in pursuing our Longview development in Washington, and we are going to follow up with them on a couple of sites in Entergy.

It looks like I might really have to work at selling New Albany!!!

Don


You are correct, my apologies.

Best regards,
Suzanne

 -----Original Message-----
From: 	Y'barbo, Paul
Sent:	Monday, November 26, 2001 3:44 PM
To:	Clapp, Suzanne B.
Cc:	Maltes, Miguel; Tortolero, Elio
Subject:	RE: LPG Cargo - Oct 2001 - ProCaribe

Suzanne,

I calculate a total amount due of $1,839,120.46. That is:

	   932,967 gallons @ $0.46396
	1,625,526 gallons @ $0.41700
	1,679,706 gallons @ $0.39200
	   178,500 gallons @ $0.39200

Total	4,416,699 gallons @ $0.416402 average price.

Please confirm.

Thanks,

Paul

 -----Original Message-----
From: 	Clapp, Suzanne B.
Sent:	Monday, November 26, 2001 2:56 PM
To:	Y'barbo, Paul
Cc:	Maltes, Miguel; Tortolero, Elio
Subject:	RE: LPG Cargo - Oct 2001 - ProCaribe

Paul,

The invoices for this lifting were issued with provisional pricing on November 1 and I was assured that payment would be made on the due date of today basis those invoicese.  It has been evident for a while now that the prices for foward months would be going down, but this is the first day I'm hearing that ProCaribe wants revised invoices.

It doesn't need to be said that cash forecasting is very important to Enron at this time and based on previous conversations, I had confirmed to the forecasting group that they would receive the funds today.

The revised invoices will be issued tomorrow.  I need confirmation that the payment of the balance due will be made tomorrow, without fail.  Per my calculations, balance due would be $1,406,580.96 taking into account the $1,000,00.00 payment that was made today.

Please confirm.

Best regards,
Suzanne
 -----Original Message-----
From: 	Y'barbo, Paul
Sent:	Monday, November 26, 2001 2:32 PM
To:	Clapp, Suzanne B.
Cc:	Maltes, Miguel
Subject:	LPG Cargo - Oct 2001 - ProCaribe

Suzanne,

Final pricing for the subject cargo is dependent on Nov-Jan LPG prices. A provisional amount is due today. Please base the provisional amount on a Nov MB price of 35-cents, Dec and Jan MB prices of 32.5-cents. These prices reflect the current market.

Thanks,

Paul


Thanks for being so prompt.

	From:  Sheila Glover                           01/05/2000 08:38 AM

To: Sally Beck/HOU/ECT@ECT
cc: Kim Melodick/HOU/ECT@ECT, Norma Villarreal/HOU/ECT@ECT
Subject: Bennett Kaufman Promotion verbage

Sally, as requested.. Sheila

Bennett Kaufman manages the Equity Trading and Credit Spread Trading Risk
Management Groups.  He has been in this postion since February 1999.  He
joined Enron in February 1998 as a Senior Specialist in Natural Gas
Derivatives supporting the  Options Book..  Prior to coming to Houston,
Bennett worked for investment banking firms in New York.  Bennett just
completed his MBA in December.


Louise and John,

Thank you for having the meeting with all Gas and Power origination this morning.  I was very impressed by the employee attendance and your responses to individuals' concerns.  I would recommend having periodic meetings in the future.  My only disappointment was the most of my questions should have been articulated by my employees because they were concerns and queries articulated to me these past few days.  I have appropriately chided them and will chalk it up to stage fright.

Regards, Mrha


Megan,

Please see the message below.  The pricing on deal 391125 was incorrect;
should be HSC GD-.04.  I corrected the deal ticket.

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 01/10/2001
10:57 AM ---------------------------

mkhenderson@duke-energy.com on 01/10/2001 10:42:30 AM
To: dfarmer@enron.com
cc:
Subject: Intraday Eastrans Nominations change for 9/6/00 and Nomination for
9/7/00

Please pass the following information to Meagan Parker.  Her pricing isn't
matching.
---------------------- Forwarded by Marta K Henderson/Houston/PEFS/PEC on
01/10/2001 10:41 AM ---------------------------

Marta K Henderson
09/06/2000 03:39 PM

To:   dfarmer@enron.com, John A. Bretz/GCS/CEC/PEC@PEC
cc:   John A. Bretz/GCS/CEC/PEC@PEC, Donna J Dobb/Houston/PEFS/PEC@PEC,
      Sharon Beemer/FtWorth/PEFS/PEC@PEC

Subject:  Intraday Eastrans Nominations change for 9/6/00 and Nomination
      for 9/7/00

As follow-up documentation for the Intraday sale on 9/6/00, the following
states the pricing for the redeliveries:

8500 MMBTU from Fuels Cotton Valley priced per Paragraph 1a of the Contract
Price (per MMBTU) section in the Transaction Agreement.
10955 MMBTU at ETGS Carthage Hub Tailgate priced per Paragraph 1c of the
Contract Price (per MMBTU) section in the Transaction Agreement
10545 MMBTU at CIPCO/Mobile Beaumont  which is priced differently than
Paragraph 1b of the Contract Price (per MMBTU) section in the Transaction
Agreement.  The price for 10545 MMBTU for 9/6/00 will be HSC Daily plus
$.04/MMBTU.

Please confirm the above by replying to this E-Mail message.
---------------------- Forwarded by Marta K Henderson/Houston/PEFS/PEC on
09/06/2000 01:07 PM ---------------------------

Marta K Henderson
09/06/2000 09:58 AM

To:   Darrel F. Bane/EastTexas/PEFS/PEC@PEC, John A. Bretz/GCS/CEC/PEC@PEC,
      Chad W. Cass/GCS/CEC/PEC@PEC, Michael R.
      Cherry/EastTexas/PEFS/PEC@PEC, Bruce McMills/FtWorth/PEFS/PEC@PEC,
      William E. Speckels/GCS/CEC/PEC@PEC, Donna C.
      Spencer/GCS/CEC/PEC@PEC, Julia A. Urbanek/GCS/CEC/PEC@PEC, Dora J.
      Levy/GCS/CEC/PEC@PEC, briley@enron.com, dfarmer@enron.com,
      carlos.j.rodriguez@enron.com, Sharon Beemer/FtWorth/PEFS/PEC@PEC,
      Connie Wester/EastTexas/PEFS/PEC@PEC
cc:

Subject:  Intraday Eastrans Nominations change for 9/6/00 and Nomination
      for 9/7/00

Deliveries continue to be 30,000 MMBtu/dy

The redeliveries will be:

8500 from Fuels Cotton Valley
10955 to HPL's Cartwheel Agreement at Carthage
10545 at Mobil Beaumont

Effective for 9/7/00, deliveries to Eastrans continue to be 30,000 MMBtu/dy

The redeliveries will be:

8500 from Fuels Cotton Valley
21500 to HPL's Cartwheel Agreement at Carthage


Please review and let's discuss.

----- Forwarded by Gerald Nemec/HOU/ECT on 08/22/2000 05:32 PM -----

	Michael C Bilberry
	08/22/2000 05:29 PM

		 To: Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: Updated draft for COB

Would you please expedite your review and comments.  Exxon is anxious to lay
flow line. If you have any questions please call my voicemail and leave
message or feel free to call Richard Smith at Exxon. His number is
713-656-9790.
---------------------- Forwarded by Michael C Bilberry/HOU/ECT on 08/22/2000
05:25 PM ---------------------------

"Richard D Smith" <richard_d_smith@email.mobil.com> on 08/22/2000 04:58:36 PM
To: Michael.C.Bilberry@enron.com
cc:
Subject: Updated draft for COB

(See attached file: COB#9Amendment22-Aug.doc)

 - COB#9Amendment22-Aug.doc


Thanks for remembering their birthdays.  Drive carefully!!  See you sometime
this weekend


Company: 000236     Arng: 37147-11338     Eff Date: 2001-06-01

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

Nominated                     1,006                 1,006
Working                       1,006                 1,006
Capacity Allocation           1,006                 1,006
Confirmed                        86  NGU               86


----- Forwarded by Richard B Sanders/HOU/ECT on 10/17/2000 09:14 AM -----

	Eric Thode@ENRON
	10/17/2000 08:43 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Enron Mentions

The last article...

---------------------- Forwarded by Eric Thode/Corp/Enron on 10/17/2000 08:43
AM ---------------------------

Karen Denne
10/17/2000 07:15 AM
To: Eric Thode/Corp/Enron@ENRON
cc:

Subject: Enron Mentions

fyi, TVA article... are you the spokesman?
---------------------- Forwarded by Karen Denne/Corp/Enron on 10/17/2000
07:17 AM ---------------------------

	From:  Ann M Schmidt                           10/17/2000 07:11 AM

To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Mary
Clark/Corp/Enron@ENRON, Laura Schwartz/Corp/Enron@Enron, Elizabeth
Linnell/NA/Enron@Enron
cc:

Subject: Enron Mentions

Enron's Third-Quarter Profit Rises 31 Percent as Sales Surge
10/17/0 7:36 (New York)

Enron's Third-Quarter Profit Rises 31 Percent as Sales Surge

     Houston, Oct. 17 (Bloomberg) -- Enron Corp., the world's
largest energy trader, said third-earnings rose 31 percent as
revenue more than doubled.
     Net income rose to $292 million, or 34 cents a share, from
profit from operations of $223 million, or 27 cents, in the year-
earlier quarter. Enron was expected to earn 32 cents a share, the
average estimate of analysts polled by First Call/Thomson
Financial. Revenue rose to $30 billion from $11.84 billion.
     Revenue from Enron's wholesale energy operations and services
unit, which consists of marketing energy commodities and investing
in energy-related assets, more than doubled to $28.2 billion from
$11.1 billion. Revenue from its retail energy services business
almost tripled to $1.48 billion from $542 million.
     In the year-earlier quarter, a gain of $345 million, or
44 cents a share, and a charge of $278 million, or 36 cents, made
net income $290 million, or 35 cents.
     Shares in the Houston-based company rose 50 cents to $80
yesterday. They've risen 80 percent this year.

--Per H. Jebsen in the New York newsroom (212) 893-3368, or
pjebsen@bloomberg.net, through the Princeton newsroom (609) 279-
4000/als

Story illustration: To see the breakdown of Enron's annual sales,
see {ENE US <Equity> DES6 <GO>}.

USA: Enron earnings rise 31 percent, beat expectations.

10/17/2000
Reuters English News Service
(C) Reuters Limited 2000.

HOUSTON, Oct 17 (Reuters) - Enron Corp., North America's biggest buyer and
seller of electricity and natural gas, said on Tuesday its third-quarter
earnings rose 31 percent, beating Wall Street's expectations as online
trading helped drive strong growth at its wholesale energy operations.
Recurring net income rose to $292 million or 34 cents per share from $223
million or 27 cents in the third quarter of 1999. Wall Street analysts had
expected earnings of 32 cents a share, according to First Call/Thomson
Financial.
"Our wholesale and retail energy businesses have achieved record-setting
levels of physical deliveries, contract originations and profitability," said
Chairman and CEO Ken Lay.
"We operate in some of the largest and fastest growing markets in the world,
and we are very optimistic about the continued strong outlook for our
company," Lay added.
Enron, which has recently branched out beyond energy into fields such as
broadband telecommunications and metals trading, said third-quarter revenues
rose 154 percent to $30 billion compared with the same period of 1999. The
company's stock has risen some 80 percent so far this year.

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

Oct. 16, 2000, 10:35PM
Arena-backers promote plan to group of Hispanic leaders
By JANETTE RODRIGUES
Copyright 2000 Houston Chronicle
Pro-arena forces did some direct marketing to the Hispanic community Monday,
pitching the $175 million plan to a grass-roots group of Latino leaders.
More than 150 community activists and leaders, precinct judges and
civic-association members attended an informational meeting and
get-out-the-vote rally for the Nov. 7 arena referendum. The rally was
sponsored by the Let's Build It Together political action committee.
"By having our Hispanic community come out in force for issues like this, it
empowers us," said Celina Garza-Ridge, a Harris County-Houston Sports
Authority director. "It's very important to be able to say the Hispanic
community made a difference, and we are exactly in that position."
George Postolos, the Houston Rockets' chief operating officer, said the team
is actively courting the Hispanic community.
The pro-arena committee, headed by former Reliant Energy Chairman Don Jordan,
and Ken Lay, Enron chairman and chief executive officer, does not want a
repeat of the 1999 referendum.
Voters last November soundly defeated the previous arena proposal. The sports
authority is a governmental body whose members are appointed by the city and
county to oversee and develop sports venues.
The Rockets made a 30-percent participation commitment, similar to the one
made four years ago by the Houston Astros for Enron Field, to fairly share
the new arena's design and construction jobs with minorities and women.
The team also promised to distribute up to $50,000 a year in neighborhood
improvement grants of up to $1,000 each to worthy grass-roots, nonprofit
organizations and civic clubs in inner-city Houston. The new program targets
the Hispanic community, Postolos said.
The new arena plan is being endorsed by a cross-section of Latino leaders,
including City Councilmen John Castillo and Gabriel Vasquez, state Rep. Mario
Gallegos, the Hispanic Chamber of Commerce and others.
Vasquez told meeting attendees that the city, and the Hispanic community, is
getting more tangibles this time around.
He said, "When you consider that our community will get 30 percent
affirmative action, that our youth will be taken care of through youth
outreach programs and our neighborhoods will be taken care of as well, this
is a really good deal for Houston and this is a really good deal for the
Hispanic community."
Mercedes Alejandro, who represents Parents for Public Schools of Houston,
heard the details of the plan for the first time.
"It's good if it creates jobs for the community, and opportunities to rebuild
the community," she said. "We want it to be good for the whole, not the few."
Humberto Barrera, president of the Mexican American Sheriffs Organization,
was critical of Hispanic leaders, not the arena plan.
"I think Hispanic leaders should be more concerned about issues like pay
raises for teachers, health care and public safety, than building arenas for
rich entrepreneurs," Barrera said.
Richard Torres, director and CEO of the Hispanic Chamber of Commerce, told
attendees that the Rockets are committed to doing the right thing.
Sergio Davila, president of the Eastwood Civic Association, brought up the
lack of Latinos in leadership positions on the team's staff. Postolos
acknowledged that the team needs to do better.

TVA Says Enron Breach Of Power Sales Pact Cost $140 Mln
By Bryan Lee

10/16/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

OF DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- The nation's top two power providers are battling in
a U.S. court over an unexecuted power sales agreement.
The Tennessee Valley Authority (TVA) has filed a claim against the power
marketing unit of Enron Corp. (ENE) alleging breach of a power sales
contract.
TVA cited the alleged breach of contract in documents provided to its
distribution utility customers earlier this month outlining unforeseen
expenses contributing to the government-owned utility's inability to meet its
debt-reduction forecast.
According to the documents, obtained by Dow Jones Newswires, the alleged
breach of contract contributed to a $140 million shortfall during fiscal year
2000.
TVA was initially reluctant to divulge information on the case, which is
under a court protective order.
"A major power provider elected not to perform under the contract," said
David Smith, TVA's chief financial officer, when asked Friday to elaborate on
the line item in the information provided to TVA's distribution utility
customers.
But after consulting with attorneys, Smith revealed that Enron was the
subject of the claim.
TVA alleged breach of contract after Enron sought a declaratory judgment
order from the U.S. District Court in Chattanooga, Tenn., in February,
stemming from a dispute over a long-term sales agreement, an Enron spokesman
said Monday.
In March, TVA filed a counter claim with the court alleging breach of
contract, a TVA spokesman said Monday.
But the two parties declined to discuss the terms of the contract, or to
elaborate further on the dispute, citing the judge's protective order. TVA
said Enron sought the court seal.
The dispute is the latest example of bad blood between the Houston-based
energy giant and TVA, a government-owned utility that ranks among the largest
U.S. power producers.
The relationship deteriorated after the two began squabbling over access to
the lucrative U.S. Midwest power market, which saw extreme price spikes
during hot weather in the summers of 1998 and 1999.
After the summer of 1998 - in which power that typically sells for between
$30 and $50 per megawatt-hour spiked as high as $7,000 per megawatt-hour -
Enron cited a study showing that TVA's power grid represented the only
unconstrained transmission pathways into the Midwest.
TVA experienced an increase in revenues for the period when power prices were
spiking upward.
Enron built gas-fired peaking power plants with an eye toward capitalizing on
the volatility in summer power markets by purchasing transmission access
across TVA's system.
After the summer of 1999 saw a repeat in extreme price volatility, Enron
began complaining that TVA was unfairly denying transmission service by
failing to act in a timely manner in response to transmission service
requests.
A TVA spokesman said the contract dispute was unrelated to the disagreement
over the government utility's handling of transmission-access requests.
But the filing of the court case occurred at the same time Enron went public
with its complaints about TVA's transmission service.
In February, Enron released a letter to Energy Secretary Bill Richardson
asking for the government's help, charging that TVA was unfairly giving its
own power marketer transmission service on a timely basis while Enron's
requests were gathering dust.
Enron later dropped the matter, saying that TVA was processing its
transmission service requests on a timely basis. -By Bryan Lee, Dow Jones
Newswires, 202-862-6647,
bryan.lee@dowjones.com

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


Please respond to assignee.supportThis is the second of the two messages.

Dear Harpreet

As noted in the previous message, the following password should be used
for accessing our secure web site.Your password is: logusjjn .You will be
asked to change the default password when you first enter the web site.

Assignee.com is a secure site that uses advanced browser features and
requires that you use either Internet Explorer 4.0 or a higher version, or
Netscape Navigator 4.  Javascript, Cookies and SSL must be installed and
enabled.

If you have any questions, please do not reply to this e-mail directly.

Please contact the Support Center:

Toll free on:

1-888-673-4383 (if calling from the United States and Canada)

0800-0232959 (if calling from the Netherlands)

0800-900986 (if calling from France), and

If calling from countries other than above, please call: 1-973-236-5555

Fax: 1-973-236-5578

e-mail: assignee.support@us.pwcglobal.com

Alternatively, you can contact your local PwC Representative(s) :---

Tax Contact, Enron
Houston
E-Mail Only
enron.houston.ias@us.pwcglobal.com


Please print for me - Black & white okay - I can't seemt to get this printed
from my printer.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 04/11/2001 07:19 PM
---------------------------
From: Fred Philipson/ENRON@enronXgate on 04/11/2001 06:03 PM
To: Sally Beck/HOU/ECT@ECT
cc: Fred Philipson/ENRON@enronXgate, Rahil Jafry/ENRON@enronXgate
Subject: Revised presentation with Andy,s comments - 04/11/01

Sally,

This includes most of the suggestions Andy made (all the word/format related
ones, at least).  The only one I have not made relates to our discussion
about adding a slide that outlines the history behind the Operations Pricing
Desk and the various factors considered in building it.  Please let me know
if you,re busy and want me to glean the information from the slides you have
archived.

Lets talk about it in more detail tomorrow.  If you need me at anytime,
please feel free to contact me on my cell phone at 281.704.1060

Regards,
Rahil
3-3206


fyi

---------------------- Forwarded by Lee L Papayoti/HOU/ECT on 08/08/2000
09:26 AM ---------------------------

	From:  Robert E Lloyd                           08/07/2000 02:39 PM

To: Lee L Papayoti/HOU/ECT@ECT
cc: Daren J Farmer/HOU/ECT@ECT
Subject: August 2000 Activity

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

 Deal #: 138086 expired July 31st.


You sent this to me, Dan.  I have since clarified this with the GP attorneys.  Michelle

-----Original Message-----
From: Lyons, Dan
Sent: Saturday, October 06, 2001 4:23 PM
To: Cash, Michelle
Subject: RE: Re: Fw: Re: ERISA!?

Roger...Do you have any idea what Khoury's email was all about?
--------------------------
Dan Lyons

-----Original Message-----
From: Cash, Michelle <Michelle.Cash@ENRON.com>
To: Lyons, Dan <Dan.Lyons@ENRON.com>
Sent: Sat Oct 06 16:20:09 2001
Subject: RE: Re: Fw: Re: ERISA!?

I think we are planning to hire all the mill workers listed on the schedule attached to the agreement.  We will be agreeing to some of the requests in their agreement, but not most of the substantive ones, such as their request that we trade out value for unvested GP stock options for Enron stock options, their demand that we maintain bonus programs that are similar, etc.  George's view is that we will control how we handle the employees, not GP.

-----Original Message-----
From: Lyons, Dan
Sent: Saturday, October 06, 2001 12:41 PM
To: Cash, Michelle; Mayes, Fran
Cc: Mccormick, George
Subject: Fw: Re: Fw: Re: ERISA!?

Are we not planning to hire substantially all the employees or isThis just the old "what we are actually going to do vs. What they want to try to bind us to do" thing and if it's the latter, how much " warm and fuzzy can we give 'em?
--------------------------
Dan Lyons

-----Original Message-----
From: "Khoury, Kenneth F." <KFKHOURY@GAPAC.com>@ENRON [NOTES:"Khoury, Kenneth F." <KFKHOURY@GAPAC.com>@ENRON]
To: Lyons, Dan <Dan.Lyons@ENRON.com>
Sent: Sat Oct 06 10:50:04 2001
Subject: Re: Fw: Re: ERISA!?

Don't worry about the "substantially similar" benefits issue--- I will deal with it.  Offering a job to all or substantially all employees is bigger issue.  Recognizing your need for flexiblity, we need to find a solution to that issue.
--------------------------


did you get a stripper?


Hi  Sandy,  would you please order me the following - Enhanced - 76-12-05,
QuickNotes Brand Weekly/Monthly Self-Management System.  Thank You!


Well, why aren't you here?  I'm ready to go!  Of course when ever you are.

Bobby Jackson <BJACKSON@SSWPC.COM> on 02/14/2001 05:24:21 PM
To: "'Dana.Davis@enron.com'" <Dana.Davis@enron.com>
cc:
Subject: RE: Are you still there?

No I'm not. I left at 12pm. . . .

-----Original Message-----
From: Dana.Davis@enron.com [mailto:Dana.Davis@enron.com]
Sent: Wednesday, February 14, 2001 5:24 PM
To: bjackson@sswpc.com
Subject: Are you still there?


what is your cell phone #?


---------------------- Forwarded by Phillip M Love/HOU/ECT on 03/21/2001
09:19 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 03/21/2001 09:12 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--3/21/01


Unfortunately I cannot play on Sunday.  We will try the following weekend.
Thanks


Dear Power Outage Database Customer,
Attached you will find an excel document. The outages contained within are rescheduled/derated outages. Your daily delivery will still contain these outages.
In addition to the excel document, there is a dbf file that is formatted like the daily delivery you receive nightly. This will enable you to load the data into your regular database. Any questions please let me know. Thanks.
Greg Elliott
IIR, Inc.
713-783-5147 x 3481
outages@industrialinfo.com

THE INFORMATION CONTAINED IN THIS E-MAIL IS LEGALLY PRIVILEGED AND CONFIDENTIAL INFORMATION INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY NAMED ABOVE.  YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION, OR COPY OF THIS E-MAIL TO UNAUTHORIZED ENTITIES IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS
E-MAIL IN ERROR, PLEASE DELETE IT.
 - OUTAGE.dbf
 - 102901R.xls


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact Client Services regarding PIRA report distribution and address
changes at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that
are unsure of their licensed distribution or require an extension of
their current license should contact their PIRA sales representative, or
email to sales@pira.com.

PIRA Energy Group

 - ed122501.pdf
 - ed122501.xls


Mark Haedicke requested I forward the attached drawing.


Please note that I will be working from home tomorrow, the 10th.  If you need to reach me, you can do so via my cell phone at (713) 301-0354.  Please don't call me on my land line as I won't be answering it.  Thanks.

KC


I'm on the phone with GE.  Their initial response to the assignment stuff is
positive.  They want a letter which sets out the ownership of the LLC and
what we are doing on payment.

I've been working on TECO term sheet, but I'm not sure I'll be done by 300,
depending on this call.

Kay


Here is my quick pass through the document (solely FCE's changes).  I will
read it again tonight.


Vasant,  FYI

Vince

 -----Original Message-----
From: 	VK <vkaminski@aol.com>@ENRON [mailto:IMCEANOTES-VK+20+3Cvkaminski+40aol+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, August 27, 2001 11:21 PM
To:	vkamins@enron.com
Subject:	[Le Monde] :  Les buveurs de vin plus intelligents que les amateurs de bi?re

Cet article du Monde vous est transmis par VK (vkaminski@aol.com).

VK,

VK
vkaminski@aol.com

----------------------------------------------------------------------------

 Les buveurs de vin plus intelligents que les amateurs de bi?re
Lundi 27 ao?t 2001
(LEMONDE.FR)

Le match entre tenants de la chope de bi?re et amoureux du verre de vin a-t-il trouv? son ?pilogue ? Apr?s les ?tudes attestant des effets b?n?fiques du ballon de rouge dans la pr?vention du cancer de l'intestin et celle, publi?e la semaine derni?re en Tch?coslovaquie, vantant les vertus des blondes contre les maladies cardiaques, le suspense ?tait ? son comble. L'?tude sur les m?rites compar?s des buveurs de chacune des boissons, publi?e le 14 ao?t au Danemark, est donc arriv?e ? point nomm?.

"Nous sommes les premiers au monde qui avons pu d?montrer clairement que les buveurs de vin sont plus intelligents et fonctionnent beaucoup mieux ? tous les ?gards que les amateurs de bi?re", s'est f?licit? Erik Lykke Mortensen, chercheur en psychologie au centre danois des sciences ?pid?miologiques, dans les colonnes du B.T. le 14 ao?t. Le quotidien ? grand tirage, relay? par la tr?s s?rieuse revue Archives of International Medecine, d?taille la gen?se de l'?tude : diligent?e par l'universit? de Copenhague en collaboration avec le Kinsey Institute, aux Etats-Unis, elle partait de l'hypoth?se - ?mise par plusieurs ?tudes danoises r?centes - que les buveurs mod?r?s de vin sont en meilleure sant? que les personnes consommatrices d'autres boissons alcoolis?es.

Les chercheurs se sont pench?s sur 363 hommes et 303 femmes ?g?s de 29 ? 34 ans. Ils ont pass? au crible le statut socio-?conomique, le niveau d'?ducation, le quotient intellectuel, les sympt?mes psychiatriques, la personnalit? et le comportement en mati?re de sant?, notamment la consommation d'alcool, de chacun des cobayes. Lesquels ont ?t? divis?s en deux cat?gories, selon qu'ils buvaient de la bi?re ou du vin.

Il a ?t? observ? que boire du vin est associ? ? des QI, une ?ducation et un statut socio-?conomique ?lev?s. A l'inverse, les consommateurs de bi?re obtiennent des r?sultats bien moins probants. Qui plus est, le buveur de vin semble psychologiquement plus ?quilibr? que l'amateur de mousse.

Alors, est-ce le vin qui rend intelligent ou le fait d'?tre intelligent qui incite ? boire du vin ? Les scientifiques ont choisi le second terme de l'alternative. Ainsi, les effets apparemment b?n?fiques du vin r?sulteraient surtout d'une bonne ?ducation, notamment sur les questions de sant?, et de la mod?ration de ses consommateurs. Ces conclusions viennent conforter les Danois dans leur nouvelles habitudes. Traditionnellement grands adeptes de la bi?re, ils sont de plus en plus nombreux ? s'adonner au vin. Les ?tudes utiles font les peuples intelligents.

Claire An?

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The Commission at today's FERC meeting voted out orders in the three
Southeast region RTOs - Grid South, SETrans and SPP.  It was reported at the
meeting that the orders will find that it is necessary for a single Southeast
region RTO.  A separate order will be issued in a new docket RT01-100
initiating mediation before an ALJ (Judge Bobbie McCartney) to facilitate the
formation of the single Southeast RTO.  Within one week, the settlement
proceeding will begin and will continue for 45 days.  The judge thereafter
must report to the Commission within 10 days including an outlline of a
Southeastern RTO, milestones for completion of intermediate steps and a
deadline for submitting a joint proposal.  The Commission will review the
report and may issue further orders as needed.

Grid South, SE Trans and SPP are required to participate and Grid Florida is
encouraged to participate in the mediation.  All parties to any of these RTOs
should also participate.

The Grid South order will also include language requiring an independent
board.  After the independent board is established, it should choose an
operator of the RTO.  This language should further support the idea set out
in a prior SPP order granting Enron's clarification that the RTO should not
make major capital expenditures for software or operating systems prior to
the establishment of an independent board.

The Grid South order should also include language supporting the
establishment of interconnection standards.


Wanted to make sure that you knew that today FERC declared the cap that the
ISO Board voted out last week "null and void," which means that we're back to
the old $250 cap.  FERC proposed a "soft" $150 cap that would take effect in
60 days, however.  Call if you have questions.  Best, Jeff


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Date: Mon, 17 Dec 2001 17:16:57 -0600
To: vkaminski@aol.com
From: Barbara Ostdiek <ostdiek@rice.edu>
Subject: data
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Vince:

I have a very off-the-wall question for you.  I am interested in getting
ahold of historic electricity and weather derivatives data for a new
research project I am working on.  The project centers on comparing trading
period and non-trading period volatility with the story being that markets
that are susceptible to weather shocks (ag commodities, natural gas, for
instance) will have a lower trading-period to non-trading period volatility
ratio than will markets where the primary information flow largely
coincides with the trading period (stocks and bonds, for instance).   This
hypothesis has been born out in the exchange-traded futures markets where I
have easy access to data.  The larger question that is addressed gets at
the question of the extent to which the trading process itself drives
volatility as opposed to information driving volatility.

The hypothesis would seem to be even more sharply in focus in the
electricity and weather markets.  But, I don't have any data to empirically
test this.  (I haven't looked at the exchange-traded electricity contracts
but understand them to be quite illiquid).  Any thoughts?  Any chance
someone in your group would be able to put together a data set of prices
for me?  I don't know what your usual policy is on this or what the policy
currently is.  I should be able to keep the source of the data generic -
i.e., a large OTC energy trader.

Thought it was worth asking.  Thank you for your consideration.

bbo


This is a estimate for UA4, fuel, loss, and various other operational
usages.  This deal should be handled like the other operational tickets in
the system.

D

   Aimee Lannou                06/01/2000 11:19 AM

To: Daren J Farmer/HOU/ECT@ECT, George Grant
cc:
Subject: Meter 385

Daren - Is there a reason there is a nom of 20.000/day at meter 385?  This is
a non-allocatable meter.

AL


Sally -

These are the steps that we have taken to insure that the positions the V@R
engine picks up are correct:

1. Each book adm. now checks his/her own positions that are going into V@R,
rather than just one check at  a consolidated level.
2. All regional controllers will receive a sheet at the end of the night,
verifying that all books are officialized.


Unfortunately, I only received your e-mail just now.  I will see what we can
do.  If the documents are in Word Perfect, it will be fairly easy.  If not,
it will take quite a bit of word processing work to convert them.  I'll let
you know.  Can you send me your phone number?  Thanks.

>>> "Edmund Cooper" <ecooper@ect.enron.com> 07/28 12:45 pm >>>

David,

Further to your earlier email I am pleased to attach the following documents
for
you to draw up blacklined versions of the US versions of the PA and ETA you
distributed earlier:

PA- version 9 that was sent to Enron on 20 July 1999, version 10
incorporating comments from the meeting between Clifford Chance and Justin
Boyd
and myself, and a mark up showing
the changes between the two.

ETA- version 7 that was sent to Enron on 20 July 1999, version 8
incorporating comments from the meeting between Clifford Chance and Justin
Boyd
and myself, and a mark up showing
the changes between the two.

Please use version 10 of the PA and version 8 of the ETA for your blackline
for
us.

Please let me know if you need an alternate format of document for your
computer
systems.

I look forward to hearing from you.

Kind regards, Edmund.

------------------------------------------------------------------------------
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delete the e-mail and notify us immediately.


Joe - talked w/ Zisman about Centana this p.m.  He agrees that so long as the party ENA shorted is different from the counter party on the implied storage agreement, then they are on shaky ground....and run the risk of blowing up the entire deal.  My sense is that should they desire to hold in escrow additional amounts (without the estate agreement)  they are exercising set off rights w/ affiliated ownership under an implied storage lease agreement.  That is some seriously bad ju ju (translated...they better think again).

I am going to push for cash committee approval tomorrow or Thursday as discussed yesterday.  Shemin should have her revised doc this p.m. or tomorrow a.m.

cmm


I think partnering with a lawfirm would be a good idea re documentation.
However, I am not sure the ISDA board is likely to pick a proposal that
includes a competitor of the stature of Enron.  I will call ISDA and try to
get a read on what ISDA wants to do which is not clear at this point.

Regards,

Mark


fyi
----- Forwarded by Mark E Haedicke/HOU/ECT on 03/20/2001 10:38 AM -----

	Eddy Daniels@ENRON
	03/09/2001 05:02 PM

		 To: Mark E Haedicke/HOU/ECT@ECT, Janette Elbertson/HOU/ECT@ECT
		 cc: John Novak/SA/Enron@Enron
		 Subject: ESA Legal Risk Memo (revised)


Are you putting words in my mouth Tim.

The East is absolutely adamant about having a liquid real-time energy markets
with a "real supply curve" and a "real demand curve" such that hourly
clearing prices reflect the true economic value of the commodity.   With
respect to the number of hourly price signals within an RTO that is
necessary, that is subject to much debate.   Although I prefer a zonal model
for simplicity reasons, the reality is that congestion is more prevalent in
the East in most of the markets and in order to get a functioning real time
energy market, we may have settle for a limited LMP, in which nodal pricing
is necessary for managing the congestion, but proxy buses are created in
zones (3-5 per RTO) for purposes of real-time energy markets.

Our views, I believe, are still very much aligned, however, I need to make
some progress on the creation of real time energy markets.   The zonal
markets implemented in NEPOOL and contemplated for ERCOT result in a
mis-priced commodity with no "real" price signal sent to the market.   Out of
merit generation is and will continue to be dispatched because the congestion
is managed through energy uplift payments (congestion price signal is not
sent to the market).   This results in a very inefficient commodity market
where the consumer gets screwed and market makers can't price the commodity
or transportation on a forward basis.

I hope this clarifies any misunderstanding.


Pat,

Attached is a draft of the GISB between ENA and Sequent Energy.   As
requested,  I have included in the Special Provisions found on the last page,
an addition to Section 7 a provision for netting.

Regarding the date,  how were the previous transactions papered you wish to
be a part of this GISB?  Are there in current active transactions?

Finally, if in agreement with this draft please complete Sequent's
administrative portion and remove "Draft" from the heading and we can discuss
your reasons for the date change.

Regards,
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


Attached is PIRA's latest "Gas Flash Weekly."

If you have any questions regarding the report's content, please
contact: Greg Shuttlesworth (email: greg@pira.com), Tom Howard (email:
tazh@pira.com), Richard Redash (email: Rich@pira.com), Nobu Tarui
(email: nobuo@pira.com) or Jane Hsu (email: jane@pira.com), at (212)
686-6808.

Contact Client Services regarding PIRA report distribution and address
changes at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Gas Flash Weekly" outside a Client's licensed
distribution area is strictly prohibited. Clients that are unsure of
their licensed distribution or require an extension of their current
license should contact their PIRA sales representative, or email to
sales@pira.com.

PIRA Energy Group

 - aga112101.pdf


I'll let my parents (Dr. and Mrs. Larry  (Carole) Goldberg) know.  Thanks
very much.

Jeff

GR2915@aol.com on 10/02/2000 08:51:52 AM
To: jeff.shankman@enron.com
cc:
Subject: yom kippur service

I noticed in your letter to Rabbi Diamond that you intend to be in Louisville
for Yom Kippur.  I will have a ticket for you (needed for admiission) at the
ticket desk.

Gerryy Ronkin


Jim:  The draft memo on power is attached.  Lots more work to do.  Let me
know if you want to discuss further.

Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 12/13/2000 02:33 PM -----

	Elizabeth Sager
	12/13/2000 10:55 AM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc:
		 Subject: Chart - Power risk areas

Mark

Attached is a draft of the chart of power risks.  Let me know if there is
anything else you would like me to do on this.  We are still in the process
of reviewing top exposures with credit.

Elizabeth 36349


Well, I do believe this makes 499!
----- Forwarded by Tana Jones/HOU/ECT on 01/26/2001 04:47 PM -----

	Susan Bailey
	01/26/2001 04:43 PM

		 To: Bob Bowen/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Andrea R
Guillen/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Jarrod Cyprow/HOU/ECT@ECT,
Gordon Heaney/Corp/Enron@ENRON, Janie Aguayo/HOU/ECT@ECT, Derek
Bailey/Corp/Enron@ENRON, Diane Anderson/NA/Enron@Enron, Kevin
Meredith/Corp/Enron@ENRON, Melissa Ann Murphy/HOU/ECT@ECT, Scott
Tackett/Corp/Enron@Enron, Celeste Cisneros/NA/Enron@Enron, Sharen
Cason/HOU/ECT@ECT, Laura Dewett/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT,
Tiffany Williams/NA/Enron@Enron, Dianne Seib/CAL/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Nidia
Mendoza/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Rod
Nelson/LON/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, John Suttle/HOU/ECT@ECT, Russell
Diamond/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT,
Wendi LeBrocq/Corp/Enron@Enron, Edward Sacks/Corp/Enron@Enron, James L
Copeland/HOU/ECT@ECT, Veronica Espinoza/Corp/Enron@ENRON, Veronica
Gonzalez/HOU/ECT@ECT, Jane Wilhite/NA/Enron@Enron, Paul
Radous/Corp/Enron@ENRON, Jason R Williams/NA/Enron@ENRON, Wendy
Conwell/NA/Enron@ENRON, Darren Vanek/NA/Enron@Enron, Sara
Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT,
Tana Jones/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Brent
Hendry/NA/Enron@Enron, Mary Cook/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron,
Stephanie Panus/NA/Enron@Enron, Cheryl Nelson/NA/Enron@Enron, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marilyn Colbert/HOU/ECT@ECT, Diane
Ellstrom/HOU/ECT@ECT, Lynn E Shivers/LON/ECT@ECT, Bill D Hare/HOU/ECT@ect,
Leslie Reeves/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, Dianne Seib/CAL/ECT@ECT,
Samuel Schott/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, Karen
Lambert/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Carrie Southard/LON/ECT@ECT,
Mary G Gosnell/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Amber Ebow/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON,
Melissa Ann Murphy/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Georgi Landau/NA/Enron@ENRON,
Cheryl Johnson/Corp/Enron@Enron
		 cc:
		 Subject: The Worthington Steel Company

We have received an executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   January 16, 2001

Enron Entity:   Enron North America Corp.

Counterparty:   The Worthington Steel Company

Transactions Covered:  Approved for all products with the exception of:
Foreign Exchange

Confirming Entity:  Enron North America Corp.

Governing Law:   New York

Special Note:  Counterparty has three (3) Local Business Days to accept or
dispute a Confirmation.

Copies will be distributed.

Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com