Marlene,

I am forwarding the 2 execution originals of the ENA to HPL assignment of
Oasis transportation contracts for your further handling.  The assignment
covers the following contracts:

(1)  Interruptible NGPA Section 311  96019482   2/1/99
 Gas Transportation Agreement

(2)  Firm Intrastate Gas Transportation   96019481   2/1/99
 Agreement

(3)  Interruptible Intrastate Gas   96016667   8/1/99
 Transportation Agreement

(4)  Interruptible NGPA Section 311   96015445   11/1/97
 Gas Transportation Agreement

Thanks for your assistance,

Eric Gillaspie
713-345-7667
Enron Building 3886

	Marlene Hilliard
	08/10/2000 08:19 AM

		 To: Eric Gillaspie/HOU/ECT@ECT
		 cc:
		 Subject: Re: Oasis

Eric,

(2) 96016654 does not have any deals attached.  I have terminated this
contract in Global Contracts.  You can proceed with the Assignment.

Marlene
---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 08/10/2000
08:17 AM ---------------------------

Marlene Hilliard
08/09/2000 09:56 PM
To: Eric Gillaspie/HOU/ECT@ECT
cc:
Subject: Re: Oasis

Eric,

(1) Yes,  "Happy Netting Agreements" are never papered and are used solely
for accounting purposes.  They are used on the Puchase/Sale Contracts.
Further, Pipeline Netting Contracts are never papered and are used solely for
accounting purposes.  They are used on teh Transportation Contracts.

(2)  First thing in the morning I will check to see if deals are attached to
the contract.  Then I can terminate the contract.  Otherwise, I can not
terminate the contract.  I doubt if deal are because Sandra Grimes at Oasis
Pipe Line Company indicated that the thirdd party no. did not belong to
them.

Marlene
Ext. 3-9167
---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 08/09/2000
09:45 PM ---------------------------

Eric Gillaspie
08/09/2000 06:31 PM
To: Marlene Hilliard/HOU/ECT@ect
cc:
Subject: Re: Oasis

Marlene,

(1) I'm not familiar with Happy Netting.  Are "Happy Netting Agreements" not
papered and used solely for accounting purposes?; and
If you terminate the Parking contract then we can proceed with the assignment
from ENA to HPL.  (2) Please inform me of your decision to terminate the
Parking contract.

Thanks,

Eric Gillaspie
713-345-7667
Enron Building 3886

	Marlene Hilliard
	08/08/2000 03:22 PM

		 To: Eric Gillaspie/HOU/ECT@ECT
		 cc: Gerald Nemec/HOU/ECT@ECT
		 Subject: Oasis

Netting Agreement 96019013:  This is Happy Netting - No Paper Exist for this
Agreement.  The notes on the Core Main Tab  indicates this.

Parking 96016654:  I spoke with  Sandra Grimes at Oasis Pipe Line Company and
she indicated that this contract did not exist in their system.  They do not
have any documentation.  Their contract nos. start with 028......she is not
aware of OPLC Synthetic as their contract no..  Therefore,  the other Parking
and Loan Agreements effective May 1, 2000 are not the same contract.
Further, the documented status confirms that no paper exist and was setup in
completely.

I will probably terminate this contract in Global Contracts becasue it
appears that it was setup in error. In fact, the contract does not have
contracted services.

Should you have any further questions, please do not hesitate to contact me.

Marlene
3-9167

---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 08/08/2000
02:47 PM ---------------------------

Eric Gillaspie
08/08/2000 02:31 PM
To: Marlene Hilliard/HOU/ECT@ect
cc: Gerald Nemec/HOU/ECT@ECT
Subject: Oasis

Marlene,

I'm reviewing the amendments to the Oasis contracts that you have forwarded
to me.  I have also completed the Assignment (ENA to HPL) for the following
contracts:

ASSIGNED GAS TRANSPORTATION CONTRACTS

_______Caption:   Global Contract No:  Effective Date:_____
(1) Interruptible NGPA Section 311  96019482   2/1/99
 Gas Transportation Agreement

(2) Firm Intrastate Gas Transportation   96019481   2/1/99
 Agreement

(3) Netting Agreement (confirmed only)  96019013   1/1/99

(4) Interruptible Intrastate Gas   96016667   8/1/99
 Transportation Agreement

(5) Parking (documented)    96016654   7/1/98

(6) Interruptible NGPA Section 311   96015445   11/1/97
 Gas Transportation Agreement

The only outstanding issue is that the Netting Agreement (96019013) and the
Parking Agreement (96016654) are not papered.  In order to assign the
documents they need to be papered.  Would you please work with Oasis to get
these papered as they are the transporter. (It should be their paper).

Thanks,

Eric Gillaspie
713-345-7667
Enron Building 3886


Hi Kate,
Just wanted to get a status on this deal.  I sent the final confirm to John
Malowney to review on Friday and have not heard back from him yet.  Can you
find out whether this is okay to send out please.
---------------------- Forwarded by Kimberly Hundl/Corp/Enron on 12/12/2000
09:29 AM ---------------------------

Kimberly Hundl
12/08/2000 10:04 AM
To: John Malowney/HOU/ECT@ECT
cc:

Subject: Deal #476578.3 Montana Power Co.

This is a completed confirm letter for this deal.  All 3 legs are confirmed
together with Index language for both on-peak and off-peak indexes.  Please
let me know whether this is ready to fax out.

Thank you,
Kimberly Hundl
Power Documentation


Moving along and on schedule. I wll be speaking myself twice and be at the
Seattle meeting for about four days negotiating on the side.
---------------------- Forwarded by Terence H Thorn/ENRON_DEVELOPMENT on
11/14/99 04:23 PM ---------------------------

Terence H Thorn
11/14/99 04:21 PM
To: Rob Bradley@ENRON, Joe Hillings@ENRON, Chris Long@ENRON, Edith
Terry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Lay WTO Speech

Rob has provided everyone a new set of slides for Ken's speech. They want Ken
to speak for 20 minutes.  Once we agree on these we have to put together
talking points for Ken to use. I would like to be at that point this
Wednesday so we have the rest of the week to get feed back fro Ken and
finalize the speech next Monday or Tuesday.

Let me try out some themes.

We need to put energy developments in the context of globalization. The
world's economy is integrating as never before as transborder trade
increases, capital becomes more mobile. technology speeds this process. To
compete in this new arena countries must have access to the most talented
labor, the most advanced technology, and the lowest cost, highest quality
suppliers of goods and services. No where is this more critical that in the
areas of energy production, transportation, distribution and use.

Historically, energy trade has focused on technology to explore, produce and
export energy. In the 1990's the focus shifted to using that energy
internally to fuel the tremendous economic growth experienced by developing
economies. The focus became infrastructure development and inter-regional
trade as governments removed the legal and regulatory barriers to private
energy and infrastructure development. With energy demand increasing at high
rates, the potential for price increases, the need to develop and use new
energy technologies and the related environmental problems associated with
economic development, the next focus must be on opening these same economies
to the world class suppliers and partners which have the intellectual
property, talent, networks and technology to provide the answers to the more
efficient  production, transportation and use of energy. By opening their
economies to an expanded trade in energy services, these countries gain
instant  access to the skills and capabilities that have taken decades to
develop elsewhere.

But it's not just governments that benefit. In the US and Europe today we
have seen an explosion of customer choice in their providers of products,
services, prices and terms.   The service industries have led the way in
providing more value at better prices. This will help economies leverage
their own financial, technological and intellectual capabilities.

Having put the need to have energy services on the WTO agenda I would now
turn the problem of defining the energy services sector.  I don't like the
third chart, Energy Services Overview - it's confusing. I don't know if you
are listing the companies involved in services, in the coalition or what. I
far prefer the type of chart Rachel Thompson uses in her environmental
services presentation on page three: Some examples of environmental goods and
services. We can briefly talk about the historic issues here, but also
forward our recommendations on how energy services should be considered in
the WTO GATS discussions. The inclusion in the next GATS round is not an end
in itself but will start a process that will:

 Clarify the definition of energy services
 Identify the barriers to trade in energy services
 Set the goals for the desired level of market openess
 Establish commitments on transparency, due process and regulatory
implementation

From here we do a summary of global trends, the important role energy
services will play in a globalized economy, how expanded trade in energy
services can be a direct channel for technology transfer. This is the
"win-win" section.

In turning to the slides Rob provided,  I have already mentioned my concerns
about the second slide. The list of members of the coalition can stay- it
represents the depth and variety of businesses in this area. The energy and
infrastructure slides fit the initial story. The energy services megatrend
slide has a long way to go. Maybe we can show the trend: production and
export,  private infrastructure development, and the next step: mass
customization. The privatization slide doesn't go here but I'm not sure what
the point is or how we want to tie privatization to energy services. The
globalization slides need to go earlier if we are to use the story I outlined
but the globalization of energy trade slide is about the trade in
commodities.  It doesn't fit- we are after data on the goods and services
that make this trade happen, not the commodity per se.

The customization is fine- we need to have solid talking points about why
customization of energy services helps economies.  This will be a tough
section- I don't think we have anything in the can exactly on this point. Do
we need new markets for competitive energy?   Energy outsourcing and
information age are fine,  I like the nexus between energy and environment.
The talking points here should focus on this part of the energy services
business.  EES should have lots of talking points in this area. The benefits
slide can be expanded. I don't see the need for the fragmentation slide.
Point?

On the conclusions don't be so threatening. Rather than say must adapt, we
should be talking about the benefits of embracing the new energy market.  Add
a point about rising demand, environment problems, the need to produce and
use energy more efficiently.

.


Please open the attached file to read the complete text of the following
items:

00:19AM EDT  8-JUN-01 MERRILL LYNCH (S.FORTUNA) AAPL CPQ DELL
APPLE COMPUTER:PEELING BACK ESTIMATES

07:04AM EDT  8-JUN-01 ABN AMRO INC. (GODFREY,GEORGE J.) MSFT INTC
MICROSOFT CORPORATION: INTEL MID-QUARTER UPDATE IS POSITIVE FOR MICROSOFT

04:08AM EDT  8-JUN-01 CREDIT SUISSE FIRST BOSTON (CHOPRA, AMIT)
AM CALL: SUNW: NOT SEEING THE BOTTOM

06:51AM EDT  8-JUN-01 PRUDENTIAL SECURITIES (K.ALEXY) HAND PALM CPQ
HAND: HAND GETS SQUEEZED, SHARPLY LOWERS GUIDANCE

06:29AM EDT  8-JUN-01 SALOMON SMITH BARNEY (JONATHAN JOSEPH) INTC
INTC: REITERATES Q2 GUIDANCE; NO CHANGE TO ESTIMATES

10:03AM EDT  8-JUN-01 MORGAN STANLEY/DW (MUNSON, GILLIAN) CPQ
DELL: BANTER ON A BUDGET-WITH DELL

 <<6.08.01 Analyst Reports.doc>>
The analyst reports provided are reports prepared by independent analysts
who monitor and track Compaq's performance.  These reports are not prepared
by or at the direction of Compaq and as a result, Compaq is not endorsing or
verifying the information contained in these reports or endorsing any of
these analysts.   These reports are being provided solely for business
reasons and as a result, do not distribute these reports to other
individuals outside of Compaq.  If other individuals are interested in
receiving the reports provided herein, please contact Elizabeth Davis in
Compaq's Investor Relations Department at elizabeth.davis@compaq.com.

Elizabeth Davis
Compaq - Investor Relations
Research Analyst
281-518-4289

 - 6.08.01 Analyst Reports.doc


Attached  is the legal risk memo for HEOF's investment in the above
referenced company.

Angela D. Davis
Enron North America Corp.
1400 Smith, Suite 3842
Houston, Texas 77002
Tele. (713) 345-8347
Fax:  (713) 646-3393
e-mail:  angela.davis@enron.com


I did not receive a receipt for December.  Please forward  same.

Thanks!

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


From the beginning of the year to July 25

No of Trades:		1247
MWH:			6,537,273
Notional Value:		CDN$ 570,602,236
Counterparties (10):	Aquila Canada
			Conoco Canada
			Duke Energy Marketing Ltd
			Dynegy Canada
			El Paso Merchant Energy
			Engage Canada
			Enmax Energy Corp
			Idaho Power Company
			TransAlta Energy Marketing
			TransCanada Energy Financial Products


thanks.
PL

 -----Original Message-----
From: 	Baxter, Bryce
Sent:	Friday, November 30, 2001 9:56 AM
To:	Gossett, Jeffrey C.; Keiser, Kam; Love, Phillip M.; Bike, Anne; Valdes, John; Palmer, B. Scott; Winfree, O'Neal D.
Subject:	After Hours Numbers

If you need to reach me after for any reason, here are my numbers:

281-450-6338 - Cell
281-647-9767 -- Home


Daren,

  Below, I have attached the information that I initially sent out to the
managers.
  If you would please forward me your customer and employee trip designation
as well as
  their addresses as soon as possible I would really appreciate it.

  Again, I am sorry for the mistake in not including you in this email.  I
assure you it will not
  happen again.  And please let me know if there is anything I can do to help
you.

   - Heather
---------------------- Forwarded by Heather Choate/HOU/ECT on 05/17/2000
04:30 PM ---------------------------

Heather Choate
04/19/2000 10:29 PM
To: Randall L Gay/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Edward
Terry/HOU/ECT@ECT, Tricia Bowen/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT,
Suzanne Christiansen/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON
cc: George Smith/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Robert
Superty/HOU/ECT@ECT, Reyna Cabrera/HOU/ECT@ECT, Cora
Pendergrass/Corp/Enron@ENRON, Maria Garza/HOU/ECT@ECT, Sabrae
Zajac/HOU/ECT@ECT
Subject: Deadlines - 2000 Customer Meeting

  The planning has begun for our 2000 Customer Appreciation Meeting.  This
year's trip
  has been scheduled at The DonCeSar in St. Pete's Beach, FL
(www.DonCeSar.com)
  on July 7-9 and August 4-6.  We will be having fun in the sun with a Luau
theme this
  year.

  Our activities will include Golf, Fishing, Parasailing, Waverunners and
Spa.  We are
  also looking into a few others (I will notify you all of any updates).

  NOTE:This year our customer's will be responsible for their own airfare and
their
  transportation to/from the airport.

   Our deadlines are as follows:

   May 8, 2000   Guest List Due!
    (This process should include a phone call before hand to
    determine the customers interest, so we can expedite the
    invitation process.)

  May 15, 2000  Generic Invitation Mail-out (July and August Customer trip)

  June 1, 2000  Employee list by trip Due!

  June 16, 2000  Customer/Employee RSVP's and Activity selections due!

Attached below is also a spreadsheet I will be using to consolidate all of
our information, if you would like to use it as well.

 - Guest List.xls

 Please let me know if you have any questions or ideas that arise, we welcome
any feedback!

 Thank you,
 Heather Choate, x33278


NOTE:  YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.

To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services.  You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.

If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:

Houston: 1.713.853.4777, Option 4
London:  44.207.783.4040, Option 4
Email: perfmgmt@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."   Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.

Review Group: ENRON
Feedback Due Date: Nov 17, 2000

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
FRANK, CAROLE C                 JEFFREY C GOSSETT               Nov 01, 2000
GAY, RANDALL L                  ROBERT A SUPERTY                Nov 01, 2000
LUCCI, PAUL T                   MARK WHITT                      Nov 02, 2000


Michelle/Molly-

Thanks for the update.

Chip

Michelle.Cash@enron.com wrote:

> I understand that the resume has been forwarded to the hiring attorney.  If
> there is interest, they will contact you.  Michelle
>
>     -----Original Message-----
>    From:   charles glazzard <cglazzard@pdq.net>@ENRON
>    Sent:   Thursday, October 18, 2001 8:18 AM
>    To:     Cash, Michelle
>    Subject:  [Fwd: Contract Position #0000110257]
>
>    Michelle-
>
>    Good morning, just checking the status of your open contract
>    position.  If necessary, you may reach me on my cell number
>    at 281-435-3542, thanks.
>
>    Chip
>
>    Content-Transfer-Encoding: 7bit
>    X-Mozilla-Status2: 00000000
>    Message-ID: <3BC487B6.AD72F419@pdq.net>
>    Date: Wed, 10 Oct 2001 11:39:02 -0600
>    From: charles glazzard <cglazzard@pdq.net>
>    X-Mailer: Mozilla 4.77 [en] (Win98; U)
>    X-Accept-Language: en
>    MIME-Version: 1.0
>    To: Michelle.Cash@enron.com
>    Subject: Re: Contract Position #0000110257
>    References: <OF19613E50.0819C756-ON86256AE1.0059C6B1@enron.com>
>    Content-Type: text/plain; charset="us-ascii"
>
>    Michelle-
>
>    Yes, I would appreciate your consideration.
>
>    Chip
>
>    Michelle.Cash@enron.com wrote:
>
>    > I have your resume.  We have no open positions in Enron Wholesale
>    except
>    > for a part-time contract opportunity.  Let me know if you would like
>    to be
>    > considered for that.
>    >
>    >     -----Original Message-----
>    >    From:   charles glazzard <cglazzard@pdq.net>@ENRON
>    >    Sent:   Wednesday, October 10, 2001 11:18 AM
>    >    To:     Cash, Michelle
>    >    Subject:  Contract Position #0000110257
>    >
>    >    Michelle-
>    >
>    >    Good morning.  I ran across the referenced position posting
>    >    with Enron and wanted to touch base with you to see if my
>    >    resume was still active.  If my resume is not currently
>    >    active please let me know at your earliest convenience so
>    >    that I may resubmit.  Thanks.
>    >
>    >    Chip
>    >
>    > **********************************************************************
>    > This e-mail is the property of Enron Corp. and/or its relevant
>    affiliate and may contain confidential and privileged material for the
>    sole use of the intended recipient (s). Any review, use, distribution or
>    disclosure by others is strictly prohibited. If you are not the intended
>    recipient (or authorized to receive for the recipient), please contact
>    the sender or reply to Enron Corp. at
>    enron.messaging.administration@enron.com and delete all copies of the
>    message. This e-mail (and any attachments hereto) are not intended to be
>    an offer (or an acceptance) and do not create or evidence a binding and
>    enforceable contract between Enron Corp. (or any of its affiliates) and
>    the intended recipient or any other party, and may not be relied on by
>    anyone as the basis of a contract by estoppel or otherwise. Thank you.
>    > **********************************************************************


This  is  a very good snapshot  of the North American  gas market  at  the
moment...fyi..Margaret
---------------------- Forwarded by Margaret Carson/Corp/Enron on 11/07/2000
08:06 AM ---------------------------

webmaster@cera.com on 11/06/2000 05:09:35 PM
To: Margaret.Carson@enron.com
cc:

Subject: Bracing the Storm - CERA Watch

**********************************************************************
CERA Watch: Sent Mon, November 06, 2000
**********************************************************************

Title: Bracing the Storm
Author: N. American Gas Team
E-Mail Category: Watch
Product Line: North American Gas ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=3014&m=1409 ,

Alternative URL:
http://www.cera.com/client/nag/wch/110100_16/nag_wch_110100_16_ab.html
**********************************************************************

The record high gas prices of this summer and fall and the questions
regarding supply adequacy for this winter have focused attention on
natural gas far beyond the confines of the direct market participants.
The national media, regulators, politicians, industrial groups, and
consumer advocates have all raised concerns about what will transpire
in terms of prices and availability this winter*and what can be done
about it. These conditions, however, are a culmination of trends that
have been developing in the gas market for five years or more; reversal
of these trends is likely to require more than one season or even one
year. In this environment, prices in the $4.00 to $5.00 per MMBtu
range have become the norm and will be sustained into the winter.
Equally important, further spikes to the $6.00 to $7.00 range cannot be
ruled out.

**end**

Follow URL for complete report.

**********************************************************************
Account Changes
To edit your personal account information, including your e-mail
address, etc. go to: http://eprofile.cera.com/cfm/edit/account.cfm

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.

Terms of Use: http://www.cera.com/tos.html
Questions/Comments: webmaster@cera.com
Copyright 2000. Cambridge Energy Research Associates


Please see the attached memorandum.


Thanks for the heads up.  I am passing it along to our commercial leader for
that part of the world, Eric Shaw.   mcs

From: Jeff Dasovich@ENRON on 11/01/2001 15:54 CST
Sent by: Jeff Dasovich@ENRON
To: Mark Schroeder/LON/ECT@ECT, Susan J Mara/NA/Enron@ENRON
cc:

Subject: Re: Eastern European Opportunity

Greetings Mark:

Any interest?

Best,
Jeff

	"Daniel Douglass" <Douglass@ArterHadden.com>
	01/11/2001 03:18 PM

		 To: <jdasovic@enron.com>, <susan_j_mara@enron.com>
		 cc:
		 Subject: Eastern European Opportunity

Jeff and Sue,

I have a potential lead which may be of interest to Enron.  However, I don't
know if you have any interest in Eastern European projects.

Who would you suggest talking to with regard to a Bulgarian power plant
development?  It involves a 25 year requirements contract with the national
energy company, the retrofit of two existing units and building three new
hydro units.  Total around 450 MW.  Party with exclusive deal with government
wants to deal with an engineering company who could finance and do work ( @
$160 million).  Any suggestions on how to proceed?  My guess is that few
engineering companies are into financing these days, particularly in emerging
nations.  However, what are your thoughts/suggestions?

Thanks, and Happy New Year!

Dan


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

The charts are now in the most recent version of Adobe Acrobat 4.0 and they
should print clearly from Adobe Acrobat Reader 3.0 or higher. Adobe Acrobat
Reader 4.0 may be downloaded for FREE from www.adobe.com.

(See attached file: TotalGasolineStocks.pdf)(See attached file: Padd I
Distillate Stocks.pdf)(See attached file: Padd I Gasoline Stocks.pdf)(See
attached file: Padd II Crude Stocks.pdf)(See attached file:
TotalCrudeStocks.pdf)(See attached file: TotalDistillateStocks.pdf)(See
attached file: APIMAIL.pdf)
 - TotalGasolineStocks.pdf
 - Padd I Distillate Stocks.pdf
 - Padd I Gasoline Stocks.pdf
 - Padd II Crude Stocks.pdf
 - TotalCrudeStocks.pdf
 - TotalDistillateStocks.pdf
 - APIMAIL.pdf


Telecom Companies Mtg To Discuss Bandwidth Trading
 By Michael Rieke

 03/23/2000
 Dow Jones Energy Service
 (Copyright (c) 2000, Dow Jones & Company, Inc.)

 HOUSTON -(Dow Jones)- A group of telecommunications companies is meeting
Thursday to open discussions
 on industry standards for bandwidth trading.

 Set up by CompTel, a Washington, D.C., trade association that represents the
competitive telecommunications
 industry, the meeting will initiate discussion among companies that are or
probably will be active in a nascent
 bandwidth trading market that could be worth billions or trillions of
dollars a year.

 Bandwidth is the capacity to move data over telecommunications networks.

 Russell Frisby Jr., president of CompTel, told Dow Jones Newswires that the
trade group's members asked it to
 get involved in the discussion of bandwidth trading.

 The fact that CompTel is involved in discussion on bandwidth trading shows
that people are taking the idea
 seriously, said Steven Kamman, a telecommunications analyst with CIBC World
Markets.

 "This year bandwidth trading will move from a theory to practice," he said.

 Before that can happen, the industry needs to set ground rules for trading,
and that will be a major topic of
 discussion at the meeting.

 It comes as no surprise that Enron Corp. (ENE) will be at the meeting. For
nearly a year, the company has been
 promoting the idea of setting up a liquid market for trading bandwidth under
standard terms and conditions.

 Tom Gros, vice president of global bandwidth trading for Enron, has two
items he thinks should be at the top of
 the meeting's agenda.

 The first is establishing an industry organization to set the standard terms
and conditions for trading bandwidth as
 a commodity. The second is setting a North American benchmark for trading.

 The bandwidth trading organization, or BTO, should consist of companies
"with actual financial risk" in
 bandwidth trading, Gros said. That means the group would consist mainly of
major telecommunications carriers,
 the bandwidth producers.

 But others also have financial risk in bandwidth, he said, including some
major Wall Street players and bandwidth
 consumers.

 Gros said some Wall Street players have already begun trading bandwidth, but
he wouldn't identify them. A
 source with a Wall Street investment bank, who didn't want to be identified,
said Gros's claim was a stretch.

 Banks with trading operations are consumers, using telecommunications
bandwidth to move stock market and
 commodity trading data internationally among offices, he said. But they
aren't actively trading bandwidth as they
 do established commodities.

 Major consumers of bandwidth would include large Internet service providers,
or ISPs. Gros said they should
 also be included in the BTO.

 Before bandwidth can be quickly and easily traded domestically, the market
needs a North American benchmark
 that sets technical specifications, Gros said.

 In domestic crude oil trading, the benchmark is West Texas Intermediate,
which must meet standards for
 American Petroleum Institute specific gravity and for sulfur content.

 In the bandwidth market, standards would be set for quality-of-service
issues like errored seconds, severely
 errored seconds and unavailable seconds, Gros said. Those standards would
cover corruption of data
 transmitted over bandwidth as well as the availability of bandwidth.

 Enron has suggested that the benchmark cover the route between New York and
Los Angeles, which ranks
 among the routes with the most data traffic in North America.

 Agreeing on standards will be the toughest job to accomplish at the meeting,
said Ken Epps, senior vice
 president for strategic marketing for Williams Communications Group (WCG),
which will also be represented at
 the meeting.

 The technical standards for bandwidth trading can't be set so high that they
limit the number of companies that
 will trade, Epps said. If the standards limit liquidity, the market won't
develop.

 "Everybody needs to walk away feeling that it's a standard they can live
with, that they can build their business
 around," Epps said.

 That goal can be met - it's just a question of how long it will take, he
said. "I don't expect it will be settled at the
 first meeting of the CompTel group, but it will be the kickoff."

 Williams plans to keep those discussion going next month at its own "carrier
forum" to discuss bandwidth trading
 standards, Epps said.

 About a year ago, when Enron first proposed trading bandwidth as a
commodity, Williams officials were quoted
 as being skeptical about the idea.

 But last month, the company announced it would take a leading role in
developing a market for trading
 bandwidth. The Williams carrier meeting shows that the company is now
serious about bandwidth trading.

 Williams is inviting "the real players, the MCI WorldComs (WCOM), the Qwests
(Q), the AT&Ts (T)," Epps
 said. "It's about people who have the assets and how we use these to
advantage the marketplace, how we build
 a good powerful market model."

 CompTel's Frisby, Enron's Gros and Williams's Epps wouldn't discuss which
other companies were attending the
 meeting in Washington. But Dow Jones Newswires was able to obtain a list of
attendees.

 Among the invitees are companies with experience trading energy commodities
- Dynegy Inc. (DYN); El Paso
 Energy Corp. (EPG); Columbia Transmission Communications, a unit of Columbia
Energy Group (CG); and
 Koch Industries, which has investments in energy and telecommunications.

 A surprise on the list is MCI WorldCom. Some industry sources have said the
company opposes the idea of
 bandwidth trading under standard terms and conditions.

 An industry analyst, who didn't want to be identified, said MCI WorldCom's
participation in the meeting is
 indicative of changing attitudes in the telecom carrier industry about
bandwidth trading.

 Retail marketing groups within telecommunications carrier companies don't
like the idea of a liquid bandwidth
 trading market, the analyst said.

 Such a market could turn retail customers into wholesale customers. For
example, a retail customer like an ISP
 could go to a liquid bandwidth market and buy at wholesale prices, he said.

 Also on the attendee list are telecom carriers Teleglobe (TGO) and Global
Crossing Ltd. (GBLX); NTT
 America, a wholly owned subsidiary of Nippon Telegraph and Telephone Corp.;
and Progress Telecom, a unit
 of the electric utility Florida Progress Corp. (FPC).

 Also on the list is recent IPO Universal Access Inc. (UAXS), a company that
matches carriers that have excess
 capacity with carriers that need extra capacity.

 LighTrade, a start-up company setting up pooling points to allow bandwidth
trading, was also invited.

 Commodity traders are represented by Sakura Dellscher, Amerex, Prebon
Yamane, AIG Telecom and the New
 York Mercantile Exchange.

 Two consulting companies, Andersen Consulting and PricewaterhouseCoopers,
were also invited.


http://marriotthotels.com/marriott/AUSDT/

I got a Bed and Breakfast for Friday Night with one King Size Bed.  It will
be nice and cozy for the six of us.

Just kidding - this is a pretty nice place - we have 2 dbls and the hotel is
in between the stadium and 6th street.  (11th street).

the rate is $145.  the tickets are $30 - so - $54/person for everything.

we will leave at 4 on Friday if that is ok with everyone.


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

F O R

November 16, 2001 5:00pm through November 19, 2001 12:00am
------------------------------------------------------------------------------------------------------

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages

ENRON NORTH AMERICAN LANS:
Impact:  3AC
Time:  Fri 11/16/2001 at  10:00:00 PM CT thru Sat 11/17/2001 at 12:00:00 AM CT
	Fri 11/16/2001 at    8:00:00 PM PT thru Fri 11/16/2001 at  10:00:00 PM PT
	Sat 11/17/2001 at  4:00:00 AM London thru Sat 11/17/2001 at  6:00:00 AM London
Outage:  Swing 3AC 8th and 9th floors to CORP IP space.
Environments Impacted:  8th
Purpose: EBS Integration
Backout: re-issue original configurations, bring trunk to eb44 back up.
Contact(s): 	Micah Staggs    713-345-1696

Impact:  Ardmore
Time:  Sat 11/17/2001 at  10:30:00 PM CT thru Sun 11/18/2001 at   2:30:00 AM CT
	Sat 11/17/2001 at     8:30:00 PM PT thru Sun 11/18/2001 at 12:30:00 AM PT
	Sun 11/18/2001 at  4:30:00 AM London thru Sun 11/18/2001 at  8:30:00 AM London
Outage:  Add redundant connections between ARD-COR-CCX1/2 and ENA-CX1/2-ARD
Environments Impacted:  All
Purpose: Increased bandwidth / resiliency available on the MAN
Backout: Put original equipment/configs back in place
Contact(s): 	Dennis McGough    713-345-3143

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING:
Impact:  Corp Notes
Time:  Fri 11/16/2001 at  9:00:00 PM CT thru Sat 11/17/2001 at    1:00:00 AM CT
	Fri 11/16/2001 at  7:00:00 PM PT thru  Fri 11/16/2001 at  11:00:00 PM PT
	Sat 11/17/2001 at  3:00:00 AM London thru Sat 11/17/2001 at  7:00:00 AM London
Outage:  cNotes Server Reboots
Environments Impacted:  All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval
Backout: Make sure server comes up.
Contact(s): 	Trey Rhodes  (713) 345-7792

Impact:  EI
Time:  Fri 11/16/2001 at  9:00:00 PM CT thru Sat 11/17/2001 at    1:00:00 AM CT
	Fri 11/16/2001 at  7:00:00 PM PT thru  Fri 11/16/2001 at  11:00:00 PM PT
	Sat 11/17/2001 at  3:00:00 AM London thru Sat 11/17/2001 at  7:00:00 AM London
Outage:  EI Notes Server Maintenance
Environments Impacted:  EI Local/Domestic/Foreign Sites
Purpose: Scheduled @ 2 week interval
Backout: N/A
Contact(s): 	David Ricafrente    713-646-7741

Impact:  EES
Time:  Fri 11/16/2001 at  8:30:00 PM CT thru Fri 11/16/2001 at  11:30:00 PM CT
	Fri 11/16/2001 at  6:30:00 PM PT thru Fri 11/16/2001 at    9:30:00 PM PT
	Sat 11/17/2001 at  2:30:00 AM London  thru Sat 11/17/2001 at  5:30:00 AM London
Outage:  EES Notes Server Reboots
Environments Impacted:  All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval on 1st and the 3rd Friday of each month.
Backout:
Contact(s): 	Dalak Malik    713-345-8219

MARKET DATA:
Impact:  CORP
Time:  Sat 11/17/2001 at  12:00:00 PM CT thru Sat 11/17/2001 at  12:30:00 PM CT
	Sat 11/17/2001 at  10:00:00 AM PT thru Sat 11/17/2001 at  10:30:00 AM PT
	Sat 11/17/2001 at  6:00:00 PM London thru Sat 11/17/2001 at  6:30:00 PM London
Outage:  Autex - "taurus" system upgrade
Environments Impacted:  Autex
Purpose: replace obsolesced hardware with Enron Standard hardware configuration for critical trading application
Backout: Replace with original system
Contact(s): 	John Sieckman    713-345-7862

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS:
Impact:  SAP
Time:  Fri 11/16/2001 at  8:00:00 PM CT thru Mon 11/19/2001 at    2:00:00 AM CT
	Fri 11/16/2001 at  6:00:00 PM PT thru Mon 11/19/2001 at  12:00:00 AM PT
	Sat 11/17/2001 at  2:00:00 AM London thru Mon 11/19/2001 at  8:00:00 AM London
Outage:  Add New SAP Storage
Environments Impacted:  SAP
Purpose: Disk growth in SAP required procurement of additional disk.
Backout: Revert to current configuration.
Contact(s): 	Gary Sentiff    713-345-5125

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

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

(713) 853-1411   Enron Resolution Center

Specific Help:
Information Risk Management			(713) 853-5536
SAP/ISC                                                                               (713) 345-4727
Unify On-Call 					(713) 284-3757  [Pager]
Sitara On-Call					(713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS			(713) 639-9726  [Pager]
OSS/UA4/TARP				(713) 285-3165  [Pager]
CPR						(713) 284-4175  [Pager]
EDI Support 					(713) 327-3893  [Pager]
EES Help Desk					(713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call                    (713) 327-6032 [Pager]


We show peak both in Enpower and in Mike's trade log. I'll check with Mike in
the morning - but in his log he has off-peak circled - that could either mean
he was questioning it or he was absolutely sure about it - we'll find out
though!

Thanks,
Kate

Evelyn Metoyer@ENRON
02/15/2001 03:22 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: deal 523015-Mike Swerzbin

Kate this trade is from yesterday.

Prebon sent over a confirm for off-peak hours and then sent a revision to
peak hours.  Which one is it?


Meg,

Jill is having a birthday barbeque at her house August 27. She wanted me to
let you know.

Chris


As tax season rapidly approaches, we are pleased to announce a new W-2
employee service.  If you plan to file your personal income taxes through
TurboTax 2000 (Intuit's personal tax filing software) you will be able to
automatically download your W-2 information into the appropriate TurboTax
forms directly over the Internet for free.

Enron has chosen to provide this service to help speed the processing time
and accuracy of your return while supporting paperless processing.

More information regarding this service is listed below or visit
www.probusinesstaxes.com to find out more about the TurboTax software and
Web-based filing service.

Employee Fact Sheet: ProBusiness/Intuit W-2 service

Q.  What is the Automated Tax Return (ATR) service?
A. Intuit Inc., makers of the popular Quicken TurboTax tax preparation and
filing software, have launched a new Automated Tax Return (ATR) service to
simplify tax preparation for TurboTax users. ATR allows users of TurboTax tax
preparation and filing software to import tax information from multiple
sources such as employers, brokerage houses, and mutual fund companies
directly into the correct TurboTax forms over the Internet.  Since our
payroll tax provider, ProBusiness, has partnered with Intuit to provide this
service, you will be able to electronically download your individual W-2 data
from ProBusiness directly into TurboTax through the Internet for free. Also,
as part of this program, you can receive a  5% discount on all TurboTax and
Quicken products including shipping and handling (go to
www.probusinesstaxes.com for more information).

Q. So how does it work?
A. Embedded in each version of TurboTax 2000 (both the software and web
application) is a series of screens that will ask whether your employer
allows you to automatically download your data into TurboTax.  To use the
free service, simply answer "yes" then select our payroll tax provider,
ProBusiness, from a drop-down list of providers which includes ProBusiness,
PeopleSoft, Ceridian, and seemyw2.com.  Validate your request by entering
your social security number and W-2 box one data and your W-2 data will
automatically transfer via the Internet into the appropriate locations in the
TurboTax form.

Q. Is this a secure transaction?
A.  Intuit,s TurboTax ATR service combines Open Financial Exchange (OFX), the
standard technology used in e-finance, with 128-bit military-grade encryption
to create an advanced security protocol that ensures the highest level of
security and confidentiality when obtaining financial data to populate your
TurboTax form over the Internet.

Q. How do I participate in this program?
A.  Only employees using Intuit,s TurboTax 2000 tax preparation and filing
software can take advantage of this Web-based ATR service.  TurboTax software
and the ATR Web-based filing service can be accessed at
www.probusinesstaxes.com.

Q. What if I already own TurboTax 2000(does this still work?
A. Yes, all copies of TurboTax 2000 contain the Automated Tax Return service
option.

Q. Overall what are the Benefits to me?
A.  Using the ATR service provided by Intuit and ProBusiness, you can:
? Increase your probability of accurate filing.
? Eliminate the need to manually enter your W-2 information and other
financial data.
? Increase the overall speed of tax filing.


The attached spreadsheet is updated from Tuesday's meeting with the action
item in blue.
 Major open issues & late requirements impacting overall schedule
 Unify, SAP, or business change requirements

There will be a follow-up meeting tomorrow, Thursday, 4:00pm, EB2626, unless
the room needs to change.

Changes, updates, please email myself, Chris, or Jeff Johnson.

Regan Smith
x39291


Hello All-

I thought I'd drop everyone a line to say hello.  I'm glad to hear that everyone is on celebrity watch.  I've seen none, let alone anyone with bang me against the headboard beauty.  I am a minor league baseball player though, does that count for anything?

I'm sorry to say that I won't be able to make it back for the fourth of July festivities, but I'm always there in spirit.  If anyone has a burning desire to see Lexington Kentucky, I'm your guy. It is the tabacco capital of the world.

I just wanted to tell everyone hello, and that I miss everyone.  As insane as that may be.

I hope everyone is well.  take care of each other, we are all we have sometimes.

Take care.

JON


I need to finish up an agreement and have it sent to a man by the name of
John "Steinbow". Please call him and get the correct spelling of his name,
his address and his fax number.  If he (or his assistant) needs an
explanation, I need the info to complete an agreement requested by Mark
Bernstein.  (Mark doesn't have the info, but doesn't want John to know he
doesn't have it, so please don't call Mark to ask.)

Steinbow's number is 914 697 2418.

Thanks!

Kay


The PRELIMINARY DPR reflects a 5 Day Loss Notification for Global Products in
the following amount:

  Limit  -  ($18,750,000)

  5 Day Loss -  ($19,108,000)


I recommend that you wait.  I've got a Brazil-focused commercial contact
internally that I would like for you to meet with first.

Best,
Jeff


----- Forwarded by Mark Taylor/HOU/ECT on 08/29/2000 04:02 PM -----

	Jeffrey T Hodge
	08/29/2000 09:02 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: John Craig Taylor/HOU/ECT@ECT
		 Subject: re: Bid Solicitation

Mark:

I believe that these fall in your arena.  Craig will be calling you later
today to discuss.

Thanks,

Jeff
----- Forwarded by Jeffrey T Hodge/HOU/ECT on 08/29/2000 09:01 AM -----

	John Craig Taylor
	08/28/2000 04:48 PM

		 To: Jeffrey T Hodge/HOU/ECT@ECT
		 cc:
		 Subject: re: Bid Solicitation

Let's talk Tues a.m. regarding this, if convenient for you. Thanks

Craig Taylor
ext. 3-7131
---------------------- Forwarded by John Craig Taylor/HOU/ECT on 08/28/2000
04:46 PM ---------------------------

glosej@NiagaraMohawk.com on 08/18/2000 06:44:34 AM
To:
cc: leuthausers@NiagaraMohawk.com, vanvalkenburghr@NiagaraMohawk.com,
piscitellip@NiagaraMohawk.com, o'neillt@NiagaraMohawk.com
Subject: Bid Solicitation

Attached are two WORD documents that provide the details of
Niagara Mohawk's solicitation of bids to purchase swap agreements
to cover the basis from Henry Hub to various delivery points.
Please review the documents and call/E-Mail to discuss any
questions.

Niagara Mohawk's credit contact is Pat Piscitelli.  His phone
number is (315) 428-6482 and E-Mail address is
piscitellip@Niagara Mohawk.com

Please E-Mail me back to confirm your receipt of this message.

Jeffery A. Glose
Sr. Energy Contract Specialist
Niagara Mohawk Power Corporation
Supply Services - HCB3
Syracuse, New York
13202
phone:    (315) 460-2262
fax: (315) 460-2660
E-Mail:   glosej@NiagaraMohawk.com

(See attached file: Swap Form.doc)(See attached file: Bid
Solicitation.doc)

 - Swap Form.doc
 - Bid Solicitation.doc


Mary,  Please prepare a draft bi-latieral CA with the following entity:

RealEnergy, Inc.
1900 Avenue of the Stars, Suite 755
Los Angeles, California 90067

The topic of the CA should be information concerning a potential sale of
natural gas and/or provision of transportation capacity for RealEnergy's
distributive generation requirements in southern California.

You can use the Huber CA we just did for the form.  Please check conflicts
with Kay Young as well.  Thanks.


FYI- Study by Paul Joskow and Alfred Kahn that concludes, among other things,
that market fundamentals in California do not fully account for price levels
in Californis this past summer.
---------------------- Forwarded by Richard Shapiro/NA/Enron on 11/28/2000
11:39 AM ---------------------------

Aleck Dadson@ECT
11/27/2000 12:27 PM
To: Richard Shapiro/NA/Enron@enron, James D Steffes/NA/Enron@Enron
cc:

Subject: Power Prices in California

FYI

__________________

FYI
----- Forwarded by Aleck Dadson/TOR/ECT on 11/27/2000 01:23 PM -----

	"Colin Schuch" <SchuchCo@oeb.gov.on.ca>
	11/24/2000 03:43 PM

		 To: <Adadson@ect.enron.com>, <conway@enerconnect.com>
		 cc:
		 Subject: Power Prices in California

Guys:

I thought you might be interested in this paper by Joskow on the
California crisis.

Regards . . . Colin

 - CalifWithholdJoskow-Khan.pdf


I'm ready for another trip to Chicago, to work on the details, the transfer
pricing, the Manlove monetization, etc.  Would a day next week be good?  It
would probably be helpful if Laura had some availability as well. Tuesday is
bad for me, but Wednesday or Thursday looks good.

I'll look over the list and give you a call after lunch.

Kay

	From:  Gregg Penman                           09/07/2000 11:29 AM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Business Setup

Here is the latest business setup list.  I went through the list with Dave
Delainey yesterday in our offices.  He then presented the list to Tom
Patrick, President of Peoples Energy, at dinner last night.  Dave has also
asked me to forward my weekly updates to both him and Tom so they can see
where progress is being made and what, if any, pressures need to be applied
within their respective organizations.  Let's discuss this to figure out the
best gameplan for crossing some of these off the list.  A good portion of the
next steps are in Peoples' court, but I am sure there are some things we can
drive the ship on.

Thanks,

Gregg


---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 09/26/2000
02:00 PM ---------------------------
From: David Parquet on 09/25/2000 11:03 AM PDT
To: Benjamin Rogers/HOU/ECT@ECT
cc: Christopher F Calger/PDX/ECT@ECT, Andrew Kelemen/HOU/ECT@ECT, Don
Miller/HOU/ECT@ECT
Subject: PG&E Questions

My responses to one set of PG&E questions would be as follows.  Dean is
answering the other one and will send back to you directly.

* What is Enron's intent re: continuing involvement?  PG&E is
concerned about any potential requirements that they might be required to
either purchase fuel from Enron or engage Enron as the power marketer.

RESPONSE: Enron is very flexible re continuing involvement:  scheduling
coordination, fuel supply, power marketing, etc.  We are also flexible re the
time period and the terms of the continuing involvement.  Whatever
arrangement is developed would be mutually beneficial.

* What is status of EPC negotiations.  Will they be required to engage
NEPCO as the EPC contractor?  Does the EPC contractor have control over the
turbines?

RESPONSE: o EPC negotiations are complete with NEPCO.  Contract has not been
executed, but has been "put on the shelf" awaiting decision on successful
bidder for the purchase of the Pastoria project from ENA.  Successful bidder
and NEPCO will each have the option of executing the EPC agreement.

  o Successful bidder is under no obligation to engage NEPCO.

  o West LB has control of the turbines.  They can be assigned either to the
LLC or to ENA.  (If assigned to ENA, it was because the successful bidder for
the Pastoria project did not want the turbines with the acquisition.)  If
assigned to the LLC as part of the acquisition, the LLC can then assign the
turbines to the ultimate EPC contractor.

* They also questioned whether there would be any "agricultural
restrictions"?

RESPONSE: The project site is presently under a Williamson Act contract to
maintain agricultural use in exchange for lower taxes.  Last week, the Kern
County Board of Supervisors voted to cancel the Williamson Act contract to
allow for industrial use, which started a 180 day public comment period.
However, the Governor has on his desk a bill for signature that would reduce
the public comment period for the cancellation to the same time frame as the
request for rehearing period for the CEC Final Decision.  (The Governor has
until 9/30 sign the bill and is expected to do so because of the overwhelming
support of the bill in the Assembly and the Senate.)  The cancellation will
be contingent upon a successful CEC decision and a payment of a Williamson
Act cancellation fee.


---------------------- Forwarded by Phillip M Love/HOU/ECT on 04/18/2001
09:38 AM ---------------------------
From: Russell Diamond/ENRON@enronXgate on 04/18/2001 09:34 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, Veronica Espinoza/ENRON@enronXgate, Darren
Vanek/ENRON@enronXgate
cc:
Subject: Credit Report -4/18/01

Counterparty    TAGG#
Action
AEP Energy Services Ltd  v38781.1,v38820.1, v38836.1 Rebook to AEP Energy
Services, Inc
 "    v38853.1, v39705.1   "
Angus Energy, Inc.   v39878.1   Pending Brant Reves
Bank of America Corporation  v39653.1, v39655.1  Rebook to Bank of America,
Nat'l Assoc.
City of Palo Alto    v39713.1, v39713.1, v39741.1 Pending Jay Williams
Cross Timbers Oil Company  v37619.1, v37860.1.2  Pending Jay Williams
Engage Inc.    v38646.1, v39926.1  Rebook to Engage Energy Canada LP
Idaho Power Company   v39821.A   Rebook to Idacorp Energy Solutions LP
Ospraie Portfolio Limited   v39863.1   Rebook to The Ospraie Portfolio Ltd
TransCanada Energy Ltd   v38459.1   Rebook to TransCanada Energy Financial
Products
Westport Petroleum Inc   v39866.1.2   Pending Rudwell Johnson


I have created a very simple speadsheet for us to track the status of conversations, payback plans, etc. for the volumetric OBAs we are cancelling.  It is located on the share drive under lindberg/obastatusrpt.  Please update as necessary.

Lorraine


Sorry, I neglected to forward this to you earlier.   You've gotta give these
guys credit for being tenacious!  I'll keep you posted on any meaningful
developments after their meeting with DOE on the 25th.  Thanks for your
patience.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 07/13/2000
12:15 PM ---------------------------

	From:  Drew Fossum                           07/10/2000 02:39 PM

To: Steven Harris/ET&S/Enron@Enron, Kevin Hyatt/ET&S/Enron@Enron, Lorraine
Lindberg/ET&S/Enron@ENRON
cc:

Subject: Pueblo

 Just got an update on the project that won't go away.  Dennis has a meeting
lined up with DOE decisionmakers on the 25th.  He is going to pitch the
project as an approximately 100 mw power plant, to be owned by (read
"financed by") DOE, with the gas pipeline owned by Dennis and\or third
parties (read "Enron"?).  Dennis has run economics that show the DOE will get
a more than 10% cost savings on the project compared to current PNM rates,
even assuming a fairly high gas transport cost because of the smaller gas
load.  How did he do it?  Very easy:  they ran the power plant economics
using about a $2.00 gas cost instead of current, real world prices.   Dennis'
argument is going to be:  "I'll take the risk on building the pipeline and
the power plant at a capped cost, and then sell the power plant to you."
"You take the risk on gas cost:  if gas cost tracks the 18-24 month average,
you will realize your 10% cost savings, but if current fuel costs continue or
escalate, you lose."    Either way, your reliability improves and you kick
PNM in the shins."  Dennis and Tino apparently think they can sell DOE on
this.  By the way, their current story on Richardson is that he won't resign,
and won't be forced out by the administration because that would create even
more publicity.  You'll love this:  they think Richardson is even more likely
to sign off on the deal now because his chances of being nominated for VP or
cabinet are dead and he now has nothing to lose in DC.  They think his real
angle is now to bring home the bacon to New Mexico and then run for governor
out there!!  Apparently the rank and file out in the home state think he got
hosed and made a scapegoat unfairly.
 I've asked  Lorna Brennan to pull some historical San Juan prices together
to give to Tino to confirm whether his $2 price is wacky.  Other than that, I
just told Tino that we are potentially interested in the pipeline part of the
project if the risks and rewards make sense, and that EE&CC might be
interested in the design/build on all of it.  He said he'd get back to me
after the 25th meeting and tell me whether the project is undead.  DF


Kathryn (EES Volume Management) and I are trying to determine what the Dominion Pipeline imbalances are from the Appalachian producers  for EES.  Dominion will not tell us without making a formal request to their legal department.  We may have to do that anyway.  I'm not sure what this report is called, I just know its on a 2 month lag.  I'm also not sure if this report was mailed to us or if we could run it out of Escript (Dominion's EBB).  If it was run out of Escript, then someone in volume management should know how to do it and that person could show me.  If the report was mailed to us, then I'll have to make a formal request to Dominion's legal department.

Don't spend more than 10 minutes trying to figure out how to do this.  If the person that handled Dominion is gone, then I'll just go the "legal" route.

Thanks


Keith,  Attached is the revised PSA for the Napoleonville warehouse.  I removed the mineral rights reservations and added in the sales price.  Please review. The agreement needs to be forwarded for review by the Assumption Police Jury as follows:

Attn:  Kim Torres
Assumption Parish Police Jury
P.O. Box 524
Napoleonville, LA 70390

Let me know if you have any questions.


Ramesh/Wei,

I just wanted to know what your estimated time was for implementing the code
to apply basis roll off to the benchmark quantity as well as to the open
position quantity.  The timing is not critical for our purposes.  I just want
to make sure it will be available before March bidweek.  If you need any
information please let me know as soon as possible since  Thursday will be my
last day in this group.  If you need anything after Thursday please contact
Binh Pham.

I have enjoyed working with you both.  Thank you for all your help.

Robin


Teb, is Enron Compression Services part of the bankruptcy? Weren't they a part of Enron North America? Will they still serve us power for Station 13?


Attached is a blackline containing Enron Corp. comments to your latest
draft.  Please contact Clint Freeland and me to coordinate execution.
Thanks.  Sara


Start Date: 4/17/01; HourAhead hour: 20;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041720.txt


-----Original Message-----
From: 	Mail Delivery Subsystem <Mailer-Daemon@postmaster.enron.com>@ENRON [mailto:IMCEANOTES-Mail+20Delivery+20Subsystem+20+3CMailer-Daemon+40postmaster+2Eenron+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Wednesday, May 30, 2001 11:05 PM
To:	Kaminski, Vince J
Subject:	Warning: could not send message for past 12 hours

    **********************************************
    **      THIS IS A WARNING MESSAGE ONLY      **
    **  YOU DO NOT NEED TO RESEND YOUR MESSAGE  **
    **********************************************

The original message was received at Wed, 30 May 2001 11:02:02 -0500 (CDT)
from mailman.enron.com [192.168.189.66]

   ----- The following addresses had transient non-fatal errors -----
<emmer@sunstatistik4.mathematik.tu-muenchen.de>

   ----- Transcript of session follows -----
<emmer@sunstatistik4.mathematik.tu-muenchen.de>... Deferred: Connection timed out with sunstatistik4.mathematik.tu-muenchen.de.
Warning: message still undelivered after 12 hours
Will keep trying until message is 5 days old

   ----- Original message follows -----

Return-Path: <Vince.J.Kaminski@enron.com>
Received: from mailman.enron.com (mailman.enron.com [192.168.189.66])
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X-MimeOLE: Produced By Microsoft Exchange V6.0.4418.65
content-class: urn:content-classes:message
Subject: RE: A question regarding your paper
Date: Wed, 30 May 2001 10:49:10 -0500
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Thread-Topic: Fwd: A question regarding your paper
Thread-Index: AcDo/+5Wlu0KVFTxEdWxCABQi+MJ2QAH8LMw
From: "Kaminski, Vince J" <Vince.J.Kaminski@ENRON.com>
To: <emmer@sunstatistik4.mathematik.tu-muenchen.de>
Cc: <vkaminski@aol.com>
X-OriginalArrivalTime: 30 May 2001 16:01:48.0022 (UTC) FILETIME=[D4D3D960:01C0E921]

Susanne,

Thanks a lot for the answer to my question.

I shall work with the numbers at home tonight.=20

Congratulations to you and your colleagues on
a great paper and exciting work in the risk
management area.

Vince Kaminski

>  -----Original Message-----
> From: 	VKaminski@aol.com@ENRON
> [mailto:IMCEANOTES-VKaminski+40aol+2Ecom+40ENRON@ENRON.com]=20
> Sent:	Wednesday, May 30, 2001 6:59 AM
> To:	Kaminski, Vince J
> Subject:	Fwd: A question regarding your paper
>=20
>=20
>=20
> Return-Path: <emmer@sunstatistik4.mathematik.tu-muenchen.de>
> Received: from  rly-xd05.mx.aol.com (rly-xd05.mail.aol.com
> [172.20.105.170]) by air-xd03.mail.aol.com (v77_r1.36) with ESMTP;
> Wed, 30 May 2001 07:24:40 -0400
> Received: from  sunrbg2.mathematik.tu-muenchen.de
> (sunrbg2.mathematik.tu-muenchen.de [131.159.68.4]) by
> rly-xd05.mx.aol.com (v77_r1.36) with ESMTP; Wed, 30 May 2001 07:24:32
> -0400
> Received: from sunstatistik4.mathematik.tu-muenchen.de
> (sunstatistik4.mathematik.tu-muenchen.de [131.159.68.134])	by
> sunrbg2.mathematik.tu-muenchen.de (8.9.1/8.9.1) with ESMTP id NAA12185
> for <VKaminski@aol.com>; Wed, 30 May 2001 13:24:29 +0200 (MEST)
> Received: from localhost (localhost [127.0.0.1])	by
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> NAA17602	for <VKaminski@aol.com>; Wed, 30 May 2001 13:24:27 +0200
> (MEST)
> Message-Id:
> <200105301124.NAA17602@sunstatistik4.mathematik.tu-muenchen.de>
> Date: Wed, 30 May 2001 13:24:27 +0200 (MEST)
> From: Susanne Emmer <emmer@mathematik.tu-muenchen.de>
> Reply-To: Susanne Emmer <emmer@mathematik.tu-muenchen.de>
> Subject: Re: A question regarding your paper
> To: VKaminski@aol.com
> MIME-Version: 1.0
> Content-Type: text/plain; charset=3D"us-ascii"
> Content-MD5: hhhySEYulRj80k19u1mmaQ=3D=3D
> X-Mailer: dtmail 1.3.0 @(#)CDE Version 1.4.2 SunOS 5.8 sun4u sparc
>=20
> Dear Mr. Kaminski,
>=20
> Thank you for your email concerning my paper on EVT and VaR.
> I have thought about your question:
>=20
> If you take formula (2.8) and plug in the parameters (u=3D10, =
N_u=3D56,
> beta=3D11.120
> chi=3D0.186, q=3D0.95, n=3D108) you get hat(x)=3D42.86 DM.
> Now we only have to explain the minus:
> If you look at figure 3, you see that we considered the absolute
> negative
> returns, i.e. we neglected the minus sign of these returns. but in the
> DRC we
> have to pay attention on the minus sign, since we consider returns,
> not only
> absolute returns. this is the reason for the minus in equation (3.10).
>=20
> I hope I could help you with this explanation.
>=20
> If you have further questions don't hesitate to ask me.
>=20
> Sincerely,
>=20
> Susanne Emmer
>=20
> ---------------------------------------------------------------------
> Susanne Emmer                  email:emmer@mathematik.tu-muenchen.de
> Zentrum Mathematik             Tel: +49 89 289 28241
> Technische Universitaet        Fax: +49 89 289 28464
> D-80290 Muenchen
> ---------------------------------------------------------------------
>=20
>=20


that's fine ditch me for another tourney.  but i undsertand you have to find alternative forms of income with enron's recent performance.
the greatest football team in college history plays kansas on saturday
-e

-----Original Message-----
From: Larry Bass [mailto:lwbthemarine@alltel.net]
Sent: Tuesday, November 06, 2001 9:55 AM
To: Bass, Eric
Subject: Re: Golf Friday?

Would love to play but have committed to play in a tourney @ SCCC with Dino
Iconos on Friday. Give me a rain check. What are the tee sips doing this
weekend.-Dad

----- Original Message -----
From: "Bass, Eric" <Eric.Bass@ENRON.com>
To: "Dad (E-mail)" <lwbthemarine@alltel.net>
Sent: Tuesday, November 06, 2001 9:30 AM
Subject: Golf Friday?

I am taking friday off - Do you want to together for some golf?

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Thanks!  That will take care of everything.  Sorry we have not told you this
before.

   Kate Symes                04/03/2001 11:45 AM

To: Melissa Ann Murphy/HOU/ECT@ECT
cc:
Subject: Re: 563928.01

This was a futures contract done by Matt Motley, and I entered the forward
deal. I wasn't aware that futures deals don't get confirmed. I only knew that
when the contract expires, I need to enter a forward deal in EnPower to hold
the trader's position. It looks like you've already added a comment about the
trade going physical off of the NYMEX. Is there anything else you'd like me
to add? If not, I'll just make a note in the comments section of forward
deals entered in place of expiring futures contracts, and I'll mark "no
confirm" on these deals as well.

Thanks,
Kate

Melissa Ann Murphy
04/03/2001 09:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 563928.01

Hello, 563928 is a deal that went physical off of the NYMEX.  I am not sure
who entered the trade but if we could get you all to put a comment saying the
trade went physical off of the NYMEX that would help us alot.  We do not
confirm these trades.  We sent a confirm out to the counterparty for this
trade and referenced the incorrect contract.

Thanks for your help,
Melissa


We have only the heights for now - maybe someday we'll see days 8 and 9.
Good luck,
Dave

http://www.sca.uqam.ca/models/
http://www.sca.uqam.ca/models/ecmwf_amer/cep00_9panel.gif


Greetings.  Lately, my email's been mangling addresses when I reply.  Just
noticed that I got alot of "couldn't send/big error" messages from the
answers I emailed out late last nite.  Did anyone get them?  I'm trying
again.  Please let me know if you get this one.  Thanks, and sorry about the
mixup.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 11/11/2000 06:39 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	11/11/2000 12:25 AM

		 To: Dylan Windham <dwindham@uclink4.berkeley.edu>
		 cc: Christine Piesco <christine.piesco, jcjcal02@arpartners.com>
		 Subject: Re: Teams

Hey folks:
Here's my rough cut at question #'s 1-4.  Let me know what you think.

Best,
Jeff


Rudwell,  Attached is a redline of Oneok's form of guaranty with my comments incorporated.  Please forward to Oneok for their review.  I will prepare the executable form of Bridgeline Holdings, LP guaranty for Oneok per your email yesterday.  Let me know if you have any questions.


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 01/10/2001
07:22 AM ---------------------------

David Ryan@ENRON
01/02/2001 10:56 AM
To: hunter.s.shively@enron.com
cc:
Subject: European 10 jet stream heights

We have only the heights for now - maybe someday we'll see days 8 and 9.
Good luck,
Dave

http://www.sca.uqam.ca/models/
http://www.sca.uqam.ca/models/ecmwf_amer/cep00_9panel.gif


Sorry for the inconvenience.  The 10/5/01 Turbine Position Report had a minor revision after distribution.  The revised report is attached.  Please call Becky Caudle at 3-9749 with any questions.


We are meeting with Southern most of the afternoon on Thursday.  Can this be moved to Friday  ?
Frank
[Frank Vickers]

 -----Original Message-----
From: 	Kaiser, Jared
Sent:	Wednesday, May 30, 2001 4:11 PM
To:	Neal, Scott; Demoes, Phil; Vickers, Frank W.; Arnell, Doug
Cc:	Bates, Kimberly
Subject:	Meeting regarding Florida sales

To all,

I would like to propose a meeting to discuss company development and implementation of a strategy to place the Bahamian LNG.

The time will be 4 pm on Thursday May 31.

Kim will respond with the location.  I would prefer each of you attend so if this doesn't fit schedules, let me know.

Regards,

Jared


Keith has your email.  He will send you the data.  His number  is x37069.
Feel free to call him right now if you want to.

Thanks,
Mike


Lets try to get together this week if possible.  Kyle wants to go as well.
Let me know.

DG


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 - mittens.JPG


Gil:  Please forward copies of the executed confirms for your ENA/Bear  derivatives transaction.  Thanks.  Sara
 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Thursday, October 11, 2001 11:40 AM
To:	Melman, Gil M.
Cc:	Rohauer, Tanya; Heard, Marie
Subject:	ENA/Bear confirms and brokerage agreement

Gil:  Please include me on the distribution list for executed confirms and other agreements which to which ENA is a party.

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


Attached is a revised LOI for WT1.   I took out all the language concerning
materials and equipment obligations incurred by ECS.  After talking with
Knippa, I understand that after the sale of the motor to TW, they will be
doing all of the installation.  Please review and provide comments.


Subject: FW: Happy Halloween!!

    Happy Halloween!!

BM__13609

 - ATT00022.jpg


Jim,
After our conversation on the phone yesterday, I confirmed that we are not able to provide delivered gas at the citygate for a competitive price.  Therefore we do not wish to make an offer of this package at this time.  Thanks for your consideration.
				Sincerely,

				Darron Giron


Al, thanks for the update.  All the best.  Jim

From: AL ALEXANDERSON/ENRON@enronxgate on 12/07/2000 09:15 PM
To: James Derrick/Corp/Enron@ENRON
cc:

Subject: PGE legal report

Jim, I need to apologize and confess I skipped the call this morning because
of an uncontrollable addiction to the Presidential election proceedings.
David Boies and Barry Richards were just too much to pass up.  Sorry.
Not much here.  We settled the Beaver lease cases at the same price we paid
the other lessors and without any of their attorney fees.  Good result.  We
have FERC approval of the Sierra sale.  SEC looks good for Jan or Feb.
I am working with Richard Sanders and Robin Gibb on defense to the California
class actions.
We have a new offer from BNFL that will be the subject of a conference call
soon.  Looks like they will pay us about 75% of our damages to go away.
One new risk is the upcoming cold spell and very high Northwest prices.  This
will cost us a lot of money, possibly not recoverable from customers, and may
spread the litigation over high prices to the Northwest.  This could develop
as a risk to the Sierra sale in the extreme, but right now appears manageble.
More on this as it develops.  The Enron litigation team is here on Monday and
we will cooperate on strategy and resources as prudent.
Finally, we have received a settlement offer on the Grant County case that
looks good and we are pursuing it.  Al.


Sounds like a bunch of eeediots falling down on the hard ice.  I'm in!

-April

 -----Original Message-----
From: 	McKalip-Thompson, Catherine
Sent:	Thursday, November 15, 2001 4:53 PM
To:	Hrach, April; Brodbeck, Kelly; Browner, Victor; Calvert, Gray; Carranza, Octavio; Dasovich, Jeff; Deane, Ryan; Fillinger, Mark; Fukada, Cary; Ha, Vicky; Kelly, Derek; Kistler, Dave; Kromer, Steve; Ly, Aandy; Mara, Susan; Mcdonald, Michael; Mentan, Ron; O'Neal, Aida; Parquet, David; Perrino, Dave; Petrochko, Mona L.; Qureishi, Ibrahim; Russell, Dean; Schoen, Mary; Sezgen, Osman; Springer, Jason; Turnipseed, Edith; Wehn, Samuel; Wong, Michael; Yee, Dennis; Zavala, Cristina
Subject:	Fun activities to beat the blues

Anyone up for some fun lunchtime activities the last week of November?

They've put up the outdoor ice rink at Embarcadero center...
... and they rent skates....

How does Thursday the 29th sound?


Kay,

As per Steve's request, please find below our wire instructions for the
fees.  Feel free to give me a call should you have any further questions.
Thanks.

Citibank, NA
ABA 021000089
A/C 3611-3293
F/B/O 795184, Enron/Pegasus Escrow

Estelle Lawrence
Citibank Agency & Trust
111 Wall Street, 14/3
New York, NY 10005
T: 212.657.2076
F: 212.657.3862


Shirley,

Yes.

Vince

Shirley Crenshaw
11/13/2000 10:20 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Subscription Renewal

Vince:

Do you want to renew?

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 11/13/2000
10:15 AM ---------------------------

From: Susan L Kennedy on 11/13/2000 10:13 AM
To: Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: Subscription Renewal

Dear Shirley:

Please let me know if Vince would like to renew these publications:

Journal of Finance
Journal of Financial & Quantitative Analysis

Thank you

Susan


There were several questions left for legal/regulatory to work on at the
close of our meeting today.  I'll try to restate them, and add my initial
thoughts, so we can all be sure to focus on the correct problems.

Q 1. Can TW use "negotiated rate" agreements for its new 150 mm/d expansion?

A.  Yes.  Independence, Guardian, and other new pipeline projects were
certificated on the basis of negotiated rate contracts.  The only restriction
is that we need to always offer cost-based recourse rate service as an
alternative to negotiated rates.  We hope to use negotiated rate agreements
for the entire 150 mm of capacity, but we won't know until the contracts are
executed how much of it will be negotiated rate contracts and how much of it
will be under recourse rate contracts.  I guess that means that in the cert.
app., we just tell the commission that we will be 100% at risk and that given
the huge interest in the open season, we have no doubts about our ability to
sell the full 150.  We should also tell the Commission we expect to sell the
capacity using negotiated rate contracts or recourse rate contracts or a
combination of both.

Q 2.  Can we give prospective customers a "cafeteria style" menu of options
(to steal Jeff's term), like the following:
 1.  5 yr. neg. rate deal at a locked in $.60 plus fuel and surcharges (or
whatever number we decide on)
 2.  10 y. neg. rate deal at a locked in $.45 plus fuel and surcharges
 3.  15 yr. neg rate deal at a locked in $.35 blah blah
 4 .  15 yr cost based recourse rate plus fuel and surcharges (importantly
this option is not locked in and will float with TW's actual rate levels and
fuel retainage percentages)

A.  I think the answer here is "yes."  Whatever options we come up with for
1, 2, and 3, we will always have to offer 4 as well.  Susan and Steve
Stojic:  please confirm that we have the right to define specific negotiated
rate options and stick to them.  Otherwise, this negotiated rate approach
could get completely unstructured such that we end up with some guys taking
our specific options and other guys custom tailoring weird variations (like a
7 yr, 231 day contract at $.51764, for example).  I'm not sure that would be
a bad thing, but we need to think about it.  We need to be sure we can tell a
customer "no" and make it stick if he tries to mix and match by asking for
the 5 yr term and the $.35 rate, for example.  I think we can lay out options
of our choosing and then enforce a "no substitutions" policy (this is
sticking with the "cafeteria" theme) but we need to be sure.

Q.3.  If we can use the "cafeteria options" approach, how much flexibility do
we have in structuring the options?

A:  This one is hard.  We need to be sure that the price and term we choose
to offer for options 1-3 is solely within our discretion.  We don't want to
be second guessed by FERC as to whether we should have offered option 1 at
$.58 instead of $.60.  Susan and Steve: if you guys confirm that we have
discretion in how to structure our negotiated rate options, does that mean we
can slant the economics of the negotiated rate options so they are a better
deal than the recourse option (for most shippers)?  I.e., could we
deliberately  incent shippers to sign on for the short term deals--i.e., by
offering options 1-3 at $.55, $.45 and $.40 instead of the $.60, $.45, and
$.35 shown above.  I suspect that is what Guardian and the other pipes did to
obtain 100% subscription under neg. rate deals.

Q.4.  How do we allocate capacity to customers if demand exceeds supply???

A.  Ideally, we'd be able to allocate the 150 to the guys who want to buy it
the way we'd prefer to sell it.  Under the above example, assuming Stan,
Danny and Steve decide short term deals are better, what if we get 100 mm/d
of offers on each of the 4 rate/term options described above.  That's 400
mm/d of demand for a 150 mm/d project.  Can we sell 100 to the guys who want
option 1 ($.60/5 yrs) and the remaining 50 to the 10 yr/$.45 guys?  That
really hoses the recourse bidders.  Do we have to cover the recourse demand
first and then allocate the remaining capacity pro rata to everyone else?
Pro rata to everyone?  Under the rule that negotiated rate bids have to be
deemed to be at max rate for purposes of allocation, pro rata to everyone may
be the right answer.  Or at least its the answer until we've filled the
recourse rate guys' orders, then we can give the remaining capacity to the
neg. rate guys whose bids we value most highly (using some objective
nondiscriminatory calculation of course).   Ugh.

Susan and Steve--please take a crack at questions 2-4.  I think 1 is answered
already.  I haven't done any research yet, so maybe these questions are
easier than they currently seem to me.  Get me and MKM on the phone at your
convenience to discuss.  We've gotta move quick so the marketers can get out
and sell this stuff.  DF


THIS MESSAGE IS FROM THE SECRETARY OF THE BOARD OF TRUSTEES, ARTIS G.
HAMPSHIRE-COWAN, ESQ:

> President Swygert asked that I forward the attached correspondence to your
> attention.  The correspondence, which identifies some of the many signs of
> success at Howard University, is forwarded for your information.
>
>  <<howardite_ltr.doc>>

 - howardite_ltr.doc


Re: your phone message, I spoke to D. Morales and will do the Master for HPL
.  My Live Link does not work at all.   Do you have the name of the person to
notify?

Thanks!

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


(Embedded image moved to file: pic13527.pcx)

August 18, 2000

Dear Market Participants:

The California Power Exchange has just completed a comprehensive credit
redesign.  Our new credit policies now incorporate new credit methodologies
similar to those used at major commodity exchanges. Specifically, CalPX now
recognizes more aspects of the actual market volatility and individual
portfolio
risk in order to provide quantifiable management information on the collateral
accounts of participants while maintaining the integrity of our markets.  We
have also combined financial requirements for our CORE (Day-Ahead, Day-Of and
Real Time) and CTS (Forwards) markets.  The incorporation of a $20 million
default bond in our CORE market and a liquidity line up to $50 million in our
CTS market provide insurance protection in the event of a default and allow
timely management of cash flow in the markets.

Enclosed for your review are all the necessary documents pertaining to our
credit redesign, including a brief instruction sheet to assist you with the
completion of these documents.  We thank you in advance for your timely
handling
of these materials, and we respectfully request that you complete the enclosed
by August 31, 2000.

If you have any questions or require further assistance, please contact Clark
Cheng at (626) 537-3243.

(See attached file: AIGINDEMNITYAGREEMENT.doc)

IMPORTANT NOTE:  Please print attachment on legal size paper.

 - pic13527.pcx
 - AIGINDEMNITYAGREEMENT.doc


Hi Dan,

I have attached the pending trades our system shows for Reliant-Entex.
Could you review and update me on which confirmations have been sent.

Thanks so much
Jennifer


FYI
----- Forwarded by Mark Taylor/HOU/ECT on 05/08/2001 10:39 AM -----

	exchangeinfo@nymex.com
	05/07/2001 04:02 PM

		 To: mark.taylor@enron.com
		 cc:
		 Subject: (01-154) Implementation of New NYMEX Rule 9.11A (Give-Up Trades)

Notice # 01-154
May 7, 2001

TO:
All NYMEX Division Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
Implementation of New NYMEX Rule 9.11A (&Give-Up Trades8)

DATE:
May 7, 2001
===========================================================
Please be advised that beginning on the trade date of Friday, June 1, 2001,
new NYMEX Rule 9.11A (&Give-Up Trades8) will go into effect.

! In the absence of an applicable give-up agreement, new Rule 9.11A will
define the respective responsibilities/obligations to an order of executing
brokers, customers and Clearing Members.

! The term &executing broker8 as used in Rule 9.11A refers to the registered
billing entity, Member Firm or Floor Broker to whom the order is transmitted.

! Rule 9.11 will provide that, in the absence of an applicable give-up
agreement, a Clearing Member may reject a trade only if: (1) the trade
exceeds trading limits established by the Clearing Member for that customer
that have been communicated to the executing broker as provided by the rule
or (2) the trade is an error for which the executing broker is responsible.

! The new rule also places affirmative obligations on executing brokers to
confirm Clearing Member authorization for an account.  For example, prior to
an executing broker accepting and executing an initial order for any new
customer account, such executing broker must confirm with the Clearing Member
by telephonic, electronic or written means, that:
(a) the customer has a valid account with the Clearing Member;
(b) the account number;
(c) the brokerage rate;
(d) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(e) a listing or summary of persons authorized to place orders for that
account.
Moreover, the executing broker must retain a copy of the authorization or the
specifics of the telephonic confirmation, which includes: opposite party,
date, time, and any other relevant information.  The Compliance Department
will conduct periodic audits of such records, and falsification of such
information shall be the basis for disciplinary action.

If you have any questions concerning this new rule, please contact Bernard
Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)
299- 2380; Thomas LaSala, Vice President, NYMEX Compliance Department, at
(212) 299-2897; or Arthur McCoy, Vice President, Financial Surveillance
Section, NYMEX Compliance Department, at (212) 299-2928,

NEW RULE 9.11A (&Give-Up Trades8)

(Entire rule is new.)

Rule 9.11A Give-Up Trades

In the absence of a give-up agreement whose terms and conditions govern the
responsibilities/obligations of executing brokers, customers and Clearing
Members, the following rules shall define the respective
responsibilities/obligations of those parties to an order.  The &executing
broker8, as used in this rule, is the registered billing entity, Member Firm
or Floor Broker to whom the order is transmitted.

(A)   Responsibilities/Obligations of Clearing Members

(1). Limits Placed by Clearing Member.   A Clearing Member may, in its
discretion, place trading limits on the trades it will accept for give-up for
a customer,s account from an executing broker, provided however, that the
executing broker receives prior written or electronic notice from the
Clearing Member of the trading limits on that account.  Notice must be
received by the executing broker in a timely manner.  A copy of such notice
shall be retained by the Clearing Member.

(2). Trade Rejection.  A Clearing Member may reject (&DK8) a trade only if:
(1) the trade exceeds the trading limits established under Section I(A) of
this rule for that customer and it has been communicated to the executing
broker as described in Subsection (A); or (2) the trade is an error for which
the executing broker is responsible.  If a Clearing Member has a basis for
rejecting a trade, and chooses to do so in accordance with the provisions of
Rule 2.21(B), it must notify the executing broker promptly.

(3). Billing.  A Clearing Member will pay all floor brokerage fees incurred
for all transactions executed by the executing broker for the customer and
subsequently accepted by the Clearing Member by means of the ATOM system.
Floor brokerage fees will be agreed upon in advance among the Clearing
Member, customer and the executing broker.

(B) Responsibilities/Obligations of Executing Brokers

(1) Customer Order Placement.  An executing broker will be responsible for
determining that all orders are placed or authorized by the customer.  Once
an order has been accepted, a broker or the broker,s clerk must:

(a) confirm the terms of the order with the customer;
(b) accurately execute the order according to its terms;
(c) confirm the execution of the order to the customer as soon as
practicable; and
(d) transmit such executed order to the Clearing Member as soon as
practicable in accordance with Exchange Rules and procedures.

2. Use of Other Persons.  Unless otherwise agreed in writing, the executing
broker is allowed to use the services of another broker in connection with
the broker,s obligations under these rules.  The executing broker remains
responsible to the customer and Clearing Member under these rules.

3.  Executing Broker Responsibility for Verifying Clearing Member
Authorization.  Prior to a broker accepting and executing an initial order
for any new customer account, the executing broker must confirm with the
Clearing Member by telephonic, electronic or written means, that:
(f) the customer has a valid account with the Clearing Member;
(g) the account number;
(h) the brokerage rate;
(i) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(j) a listing or summary of persons authorized to place orders for that
account.
The executing broker must retain a copy of the authorization or the specifics
of the telephonic confirmation, which includes: opposite party, date, time,
and any other relevant information.  The falsification of such information
shall be the basis for disciplinary action.

4. Rejection of Customer Order.  Where an executing broker has confirmed
Clearing Member authorization to execute orders on behalf of a customer in
accordance with this Rule 9.11A, the broker may, in the broker,s discretion,
reject an order that the customer transmits to the broker for execution.  The
broker shall promptly notify the customer and the Clearing Member(s) of any
such rejection.

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

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