Jim -

Attached for your information is an executive summary memo on the background
and current status of Project Crane - a proposed pulp and paper acquisition.
I understand the approval for this project is going to the Board tomorrow.

Please let me know if you should need any further information or
clarification of any points.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


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 available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude32.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas32.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil32.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded32.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG32.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG32.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL32.pdf

Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606  USA
Tel:  312-368-6149
Fax:  312-368-2281
soblander@carrfut.com
http://www.carrfut.com


GPCM Demos in Houston November 1

Bob Brooks will be in Houston on Thursday, November 1, for firms
interested in seeing a demonstration of the GPCM Natural Gas Market
Forecasting System.  If you would like to meet with Bob, please contact
him by replying to this e-mail or by calling him at 323-663-4831.

Bob Brooks
GPCM Natural Gas Market Forecasting System
http://gpcm.rbac.com <http://gpcm.rbac.com/>


Dave

I was told that I was changed over on June 1st.  Please make sure it is June
15th or I have tax problems.

Lavo


FYI.

Janette Elbertson
Enron North America Corp.
Legal Department - EB3326
Telephone:  (713) 853-7906
Fax:  (713) 646-2600
janette.elbertson@enron.com
----- Forwarded by Janette Elbertson/HOU/ECT on 11/30/2000 06:28 PM -----

	Enron IT Purchasing
	Sent by: Linda Zhou
	11/30/2000 06:23 PM
	Please respond to Enron IT Purchasing

		 To: Janette Elbertson/HOU/ECT@ECT
		 cc: Barbara N Gray/HOU/ECT@ECT
		 Subject: Confirmation of your order

This is an automatic confirmation of the order you have placed using IT
Central.

Request Number:   ECTH-4RL2GL
Order For:               Gerald Nemec

1 x ( Standard 15" Flat Panel     $865 ) Enron IT Purchasing


Mike:
Please resend the forms needed although I may have sent the necessary docs
with the courier that delivered the check.  Do not believe we've seen the
worst yet.

Will not be looking to put more money to work on the long only side for a
while.  Even with the rally today I do not believe we've seen the worst yet.

"Gapinski, Michael" <michael.gapinski@ubspainewebber.com> on 04/17/2001
08:48:53 AM
To: "'John.Arnold@enron.com'" <John.Arnold@enron.com>
cc: "Herrera, Rafael J." <rafael.herrera@painewebber.com>
Subject: RE: Receipt of Hedge Fund Information

John -

Yes, we received your check and forms.  The check has been deposited and the
forms have been processed.  The actual debits for hedge fund subscriptions
will begin on April 24th.

As for naked options, I believe we sent the paperwork for naked options to
you in February, but I don't believe we got it back.  Also, I'm concerned
about the margin requirements for naked options interfering with funds
available for the hedge fund subscriptions on April 24th.

I also have an ACCESS manager portfolio presentation for you to review
concerning the long-stock portion of your portfolio.  I'm thinking we could
knock out the paperwork, discuss protecting your liquidity for the hedge
funds vs. naked option margin requirements, and walk you through the ACCESS
manager proposal in about 30-45 minutes if you're available around 5 PM
tonight or tomorrow night.  With regards to the marginable equity for naked
options question, are the stocks at Fidelity held in joint name?

Thanks,
Mike

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Monday, April 16, 2001 3:59 PM
To: Gapinski, Michael
Subject: RE: Receipt of Hedge Fund Information

mike:
just want to confirm you received my money and forms.
also, checking to see if i am set up to sell naked calls on ENE.  may be
looking to do something this week.  probably 100-200 contracts.
john

Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
PaineWebber account(s) by e-mail. Orders and/or instructions
transmitted by e-mail will not be accepted by PaineWebber and
PaineWebber will not be responsible for carrying out such orders
and/or instructions.  Notice Regarding Privacy and Confidentiality:
PaineWebber reserves the right to monitor and review the content of
all e-mail communications sent and/or received by its employees.


Since in the past I have assumed the task of updating the General Counsel
Luncheon Host Schedule, here is the  latest update which starts the same
rotation over (with the substitution of Jordan Mintz).

 12/00 Jordan Mintz
 01/01 Kristina Mordaunt
 02/00 Elizabeth Labanowski
 03/01 John Ale
 04/01 Michael Moran
 05/01 Rex Rogers
 06/01 Julia Murray
 07/01 Jim Derrick
 08/01 Rob Walls
 09/01 Chuck Cheek
 10/01 Molly Sample
 11/01 Barbara Gray
 12/01 Mark Haedicke
 01/02 Vicki Sharp


FYI - The column "Hexanes" is the C6+ column to review.  Thanks. Lynn

 -----Original Message-----
From: 	Sturn, John
Sent:	Wednesday, December 05, 2001 1:10 PM
To:	Ashland, Team; Beatrice-M&O, Team; Team Beatrice-Purple; Beaver-Plant, Team; Pool, Eddie; Burdett, Team; Bushton-Maintenance, Team; Bushton-Operations, Team; Clifton, Team; Ellis2, Team; Cunningham, Team; Holcomb-Fld-Comp, Team; Holcomb-Maint, Team; Holcomb-Oper, Team; Hugoton-Field, Team; Hugoton-Plant, Team; Hugoton-SE, Team; Hugoton-SW-MTCO, Team; Hugoton-SW-TXCO, Team; Lyons, Team; Macksville, Team; Mullinville-Maintenance, Team; Mullinville-Operations, Team; Mullinville Pipeline Team; Oakland, Team; Palmyra-1, Team; Palmyra-Plant, Team; Perryton, Team; South-Omaha, Team; Spearman, Team; Sublette, Team; Sunray-Compressor, Team; Sunray-Field, Team; Tate, Team; Tescott, Team; Alvarado, Jesse; Armitage, Roy; Barnes, Rodney; Barry, Richard; Braswell, Keith; Calhoun, Rory; Coash, Steve; Cochran, Jeffrey; Cummings, Helen; Ellington, Michael; Hall, Margaret; Hardy, Crandal; Henley, Gaynel; Monden, Bart; Moore, Jeff; Munson, Robert; Spain, Ron; Welsh, Edward; January, Steve; Ratliff, Dale; Schoolcraft, Darrell; Spraggins, Gary
Cc:	Gilbert, Tom; Poock, Brian; Tippin, Wally; LeBeau, Randy; Jordan, Fred; Lowe, Mickey; Williams, Walt; Gaines, David; Mall, Greg; Hallowell, Dean; Peschka, Mike; Odneal, Dave; Nelson, John; Rice, Tom; Wood, Byron; Stephens, LD; Howard, Randy; Dietz, Laverne; Miller, Dave W; Noyes, David; Graham, Charlie; Kile, Rick; Aschwege, Doug; Faucheaux, Eric
Subject:	Bushton Processing Shut Down Plan - Receipt Point C6+ Listing

Attached is the latest listing of Bushton Universe receipt points with their corresponding C6+ compositions.

As you recall this list is to be used with the Bushton Procesing shut down plan to determine what receipts may have to be curtailed in the event of a shut down of the Bushton processing plant.  Eric Faucheaux is working with ETS Measurement Technology to set up a process to regularly update this list.  In the future these updates will not be emailed, but will be available on Optimization website, under Operating Guidelines.

The Optimization team website is at:

		http://www.ets.enron.com/optimization/

A corp id and login are required to access the site.


The report named: East P/L Totals <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=1&report_name=East+P/L+Totals&category_cd=1&category_name=EAST&toc_hide=1&sTV1=1&TV1Exp=Y&current_efct_date=10/26/2001>, published as of 10/26/2001 is now available for viewing on the website.


In speaking with Marvin regarding Clarksdale's authority to raise rates, he
pointed to me their statutes.  Is this something that you have a copy of
since this is a public filing.  Also, the same for Yazoo.

Ed Sacks
x5-7712


we need to pass on penalties to counterparties who cut us on gas day of may 11.  many counterparties are swinging on eol deals, so  going foward we are going to rank those counterparties to take the cuts.  as far as this deal goes, the problems incurred were due to logistical issues.  we did rerank wild goose for cycle 4, but pg&e did not allow for renoms on this cycle.
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 05/14/2001 01:31 PM ---------------------------

"Aberle, Derek" <DerekAberle@aec.ca> on 05/14/2001 11:42:24 AM
To:	"'mlenhart@enron.com'" <mlenhart@enron.com>
cc:

Subject:	Liquidated Damages Pertaining to May 11 Gas Day

	Matt

	I am passing on these penalties for non-performance Friday for the
firm volumes that did not flow.  The firm sales amount of which you did not
perform was  5000 mmbtu at $6.90.  Gas daily reported that the weekend
traded as low as $3.70.  Therefore, we are assessing liquidated damages in
the amount of US$16,000, the amount of which Lisa Feisst will invoice.  I
would like to ensure that this problem does not happen again. Wildgoose is
not the swing market, and all transactions completed on your screen are firm
as are all transactions, unless otherwise specified, with Wildgoose and
Alberta Energy Company.  We, at Alberta Energy Company consider this a
serious matter, not the dollar figure associated but the implications in the
California market place and are treating it as such.  Our companies have had
a longstanding relationship and we would like rectify this problem so we can
regain trading together in the future.  A letter outlining the above will be
sent to yourself  and John Lavorado for your records.

	Thanks


some broker dinner.  it is just a freebie.


--------- Inline attachment follows ---------

From:  <wtruxillo@hotmail.com>
To: arthur.goldsmith@att.net, bsnyder1@txu.com, chendrix@ev1.net, gtrimble01@yahoo.com, heath.kendall@worldnet.att.net, jack@safetyalert.com, jgalura@intergen.com, lhinrich@swbell.net, Lmfoust@aol.com, newhatley@earthlink.net, schan5@houston.rr.com
Date: Monday, February 25, 2002 2:34:37 GMT
Subject:

>
>MARTHA STEWART'S TIPS FOR FOLKS LIVING IN ARKANSAS
>
>GENERAL
>Never take beer to a job interview.
>Always identify people in your yard before shooting at them.
>It's considered tacky to take a cooler into a church.
>If you have to vacuum the bed, it is time to change the sheets.
>Even if you're certain that you are included in the will, it is still
>considered tacky to drive a U-Haul to the funeral home.
>
>DINING OUT
>When decanting wine, make sure you tilt the paper cup, and pour slowly so
>as
>not to "bruise" the fruit of the wine.
>If drinking directly from the bottle, always hold it with your fingers
>covering the label.
>
>ENTERTAINING AT HOME
>A proper centerpiece for the table should not be anything prepared by a
>taxidermist.
>Do not allow the dog to eat at the table...no matter how good his manners
>are.
>
>PERSONAL HYGIENE
>While ears need to be cleaned regularly, this is a job that should be done
>in
>private using one's OWN truck keys.
>Proper use of toiletries can forestall bathing for several days.
>If you live alone, deodorant is a waste of good money.
>Dirt and grease under the fingernails is a social no-no, as it tends to
>detract from a woman's jewelry and alter the taste of finger foods.
>
>DATING (outside the family)
>Always offer to bait your date's hook, especially on the first date.
>Be attentive. Let her know you're interested in her: "I've been wanting to
>go
>out with you since I read all that stuff on the wall of the mens' room at
>the
>Conoco station."
>Establish with her parents what time she is expected to be home. Some will
>say 10:00 PM; Others might say "Monday." If it is the latter, remember: it
>is
>the man's responsibility to get her to school on time.
>
>THEATER ETIQUETTE
>Crying babies should be taken to the lobby and picked up immediately after
>the movie has ended.
>Refrain from talking to characters on the screen. Tests have proven they
>can't hear you.
>
>WEDDINGS
>Generally, livestock is a poor choice for a wedding gift.
>Kissing the bride for more than ten seconds may get you shot.
>For the groom, at least, rent a tuxedo. A leisure suit, even with a
>cummerbun
>and a clean bowling shirt, will create a tacky appearance.
>Though uncomfortable, say "yes" to socks and shoes for this special
>occasion.
>
>DRIVING ETIQUETTE
>Dim your headlights for approaching vehicles, even if  when you have a deer
>in sight.
>When approaching a four-way stop, the vehicle with the largest tires always
>has the right of way.
>Never tow another car using panty hose and duct tape.
>When sending your wife down the highway with a gas can because you've run
>out
>of gas, it is impolite to ask her to bring you back a six-pack of beer.
>Do not burn rubber while traveling in a funeral procession.

_________________________________________________________________
Send and receive Hotmail on your mobile device: http://mobile.msn.com


will do

Parker Drew <Parker.Drew@msdw.com> on 02/06/2001 09:58:41 AM
Please respond to Parker.Drew@msdw.com
To: john.arnold@enron.com, Kenneth E Girdy <Kenneth.Girdy@msdw.com>
cc:
Subject: swaps

Deals #852287, 851654, 851191 unintentionally were traded  as Gas Daily
swaps instead of last day average swaps.  Could you see to it that they
are switched.  Thank you.    Parker


Start Date: 4/9/01; HourAhead hour: 3;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040903.txt

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/9/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_OZZY
  ENGY_TYPE: FIRM

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 3 / Preferred:  61.86 / Final:  41.86)
  TRANS_TYPE: FINAL
  LOAD_ID: SCE1
  MKT_TYPE: 2
  TRANS_DATE: 4/9/01
  SC_ID: EPMI


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


Steve,
I'm not sure this is on point, but perhaps some parallels can be drawn.  In
between working at the PUCO, Kerry worked at NRRI.  He  has a call in to them
on this issue and will respond to you directly since I will be travelling
this afternoon.
Janine
---------------------- Forwarded by Janine Migden/DUB/EES on 10/02/2000 09:16
AM ---------------------------

Roy Boston
10/02/2000 09:10 AM
To: Janine Migden/DUB/EES@EES
cc: Kerry Stroup/DUB/EES@EES
Subject: Re: examples of auction processes that worked

Janine -- I do not have a good example of this for electricity but in the gas
industry the manner in which FERC allowed existing LDC customers of
interstate pipelines to retain the capacity they needed while permitting
unneeded capacity to be bid out may be helpful.  Several parallels are
manifest between the two industries: 1) they are both wholesale markets ; 2)
cpacity contracts can be long-dated (exceed 10 years in some instances); 3)
LDCs were able to retain capacity on a evergreen basis; 4)temporarily unused
capacity became released in to the secondary market and was available for
recall upon terms imposed by the releasing entity; and 5) this mechanism
amounted to an auction with a "max rate" ceiling but resulted in reliable
wholesale servioce to those who needed it the most.  We may not want to use
this example because it did not represent a true dutch auction scenario that
would permit us to maximize the benefit of long-dated contracts.  However,
the gas industry may provide some example of how bidding can effectively
reallocate scarce resources over numerous competing interests and result in a
reliable system that provides wholesale capacity growth.

Janine Migden
09/29/2000 03:57 PM
To: Kerry Stroup/DUB/EES@EES, Roy Boston/HOU/EES@EES
cc:
Subject: examples of auction processes that worked

Any ideas?  the only thing that strikes me is when some regulators proposed
competitive bidding of wholesale power as a precursor to retail access.
---------------------- Forwarded by Janine Migden/DUB/EES on 09/29/2000 03:54
PM ---------------------------
From: Steven J Kean@ENRON on 09/29/2000 03:47 PM
Sent by: Steven J Kean@ENRON
To: Mark Schroeder/LON/ECT@ECT, Tom Briggs/NA/Enron@Enron, Robert
Hemstock/CAL/ECT@ECT, Peter Styles/LON/ECT@ECT, Daniel
Allegretti/HOU/EES@EES, Steve Montovano/DUB/EES@EES, Janine
Migden/DUB/EES@EES, Aleck Dadson/TOR/ECT@ECT, Paul Dawson/Govt.
Affairs/LON/ECT@ECT
cc:
Subject: examples of auction processes that worked

Jeff Skilling proposed a solution to Gov Davis to solve the supply and
pricing problems in the California market.  In summary, the proposal would
have a neutral party conduct an auction wherein the utilities would seek bids
for 5-10 year packages of power from suppliers.  The gov asked if anyone had
successfully conducted such an auction in the industry already.

I need your help to identify and describe any such examples (European or
North American) by mid day Monday. Jeff and I will have a follow up call with
the governor on Monday.

Thanks


I think there's lots which will need to be fixed.  I can't fix it now, though.

Here's where I am on the ILA.  I think it should be distributed internally
and to the Cities ASAP,  with an explanation that we are still pondering it.

Kay

PS.  I didn't redline because there were formatting challenges I couldn't
figure out.

Kay

From: Reagan Rorschach/ENRON@enronXgate on 04/27/2001 04:22 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: long form confirm/MDEA

Kay,  I think they will have the following questions:

3.  Liquidated Damages - does this still allow "unit contingent" power
deals?  That is all we will be buying from them.
5.  Events of Default and Remedies - Is this OK with Mississippi law??
6.  Billing and Payment Netting - I don't think the terms will work.  Their
boards meets the second and fourth Tuesday of each month.  Payment cannot be
authorized until the board approves.
10.  Miscellaneous - the arbitration language is the Houston venue....

I just got your email, so I will send it anyway.

reagan
 -----Original Message-----
From:  Mann, Kay
Sent: Friday, April 27, 2001 4:00 PM
To: Rorschach, Reagan
Subject: long form confirm/MDEA

Starting point for exhibit 2

 << File: long form template.doc >>


He's in London, by the way.  Jeff

	Joe Gold
	02/05/2001 02:05 PM

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

No problem.  I will probably be in NY sometime later this month.  If he is
interested in having a beer, I am interested in buying.

Joe

From: Jeffrey A Shankman on 05/02/2001 10:26 CST
To: Joe Gold/LON/ECT@ECT
cc:

Subject:

Sorry for the delay in getting back to you about my friend saar at goldman
sachs.  he recently moved departments, and I will get you relevant data
shortly.

regards.
 Jeff


Many of you have received requests for feedback through the Performance
Evaluation Program ("PEP") system.  This feedback is used by the Performance
Review Committee in conducting its evaluations and also is used in preparing
the written performance reviews.

Please take the time to complete the forms and provide candid, accurate
feedback when it is requested.

The deadline for completing evaluation forms is November 17th.

Mark Haedicke and Michelle Cash


You are invited to a reception after the Fisher Center Conference.? The
reception is part of the conference but is open to all students free of
charge. It will be held at the Bank of America Forum on Wed, December 6,
5:15-7pm.? To RSVP use our Web-based system at
http://www.haas.berkeley.edu/citm/#Conf . On the request for registration
form, enter:
100% for the discount amount
RECEPTION for the discount group
There is no need to fill out the address & phone information for this RSVP.
After submitting the form? there will be no further contact (the system's
message to that effect is for conference registration only), and a tag with
your name will be available at the reception area.

For those who would also like to attend the conference at a nominal fee of
$50, .request a admission through our Web-based system at
http://www.haas.berkeley.edu/citm/#Conf . On the request for registration
form, enter:
95% for the discount amount
MBAxx (xx is 01 or 02) for the discount group

The Fisher Center for Information Technology & Marketplace Transformation
Haas School of Business
University of California, Berkeley
Invites you to a One-day Conference  eBusiness Transformation: Breaking Away
from Legacies  Featuring George Surdu
Director of the Information Technology Services Group, Ford Motor Company

December 6, 2000
Wells Fargo Room, Haas School of Business
Conference Agenda
8:15 - 8:45am Registrations & Refreshments
8:45- 9:00am Welcome and Overview
Professor Arie Segev, Director, Fisher CITM, Haas School of Business
Phillip Gordon, Executive Director, Fisher CITM, Haas School of Business
9:00 - 9:45am
e-Business Transformation - a Conceptual Framework
Arie Segev, Director, Fisher CITM, Haas School of Business
9:45 - 11:15? Keynote Speaker
e-Businessing the Business at Ford
George Surdu, Director of the Information Technology Services Group, Ford
Motor Company
11:15 - 11:30?? Short Break
11:30 - 12:30pm
Next Generation e- Business Applications
Peter Brown, Senior Program Manager, CommerceNet
12:30 - 1:30pm Lunch
1:30 - 2:30pm
Business Mega-Trends Enablement through Information Technology and E-commerce
in Logistics
Dr. Bernard J. Hale, principal of Hale Logistics Consulting, former president
of the Council of Logistics Management, and former senior logistics officer
at s DSC Logistics, McGaw, Inc. and Bergen Brunswig
2:30-3:30pm
"What's the Big Deal About the Little-e? -- A Look at Legacy, Vendors and
Influence"
Gay Slesinger, Principal, iMarket Strategies
3:30? 4:00pm Break
4:00? 5:00pm Panel:? Breaking Away from Legacies:? Common Themes Across
Industries
Larry Clopp, Director, Supply Chain Research Practice, Gartner Group
5:15? 7:00pm? Reception? (including Haas Students)


Dear Mentors,

The Houston Technology Center has decided to cancel the August Mentor
breakfast meeting.
August is typically a busy month with late summer vacations and getting kids
off to school.

Our next meeting will be on September 27, 2001.

We look forward to seeing you there.

Best regards,

Massimo Marolo
Development Manager
Enron Loaned Executive
Houston Technology Center
(713) 658-1750
mmarolo@houstontech.org


Attached is a memo regarding the above matter.


As the Global Technology group moves forward in accomplishing its goals of
developing worldwide technology standards, eCommerce opportunities and global
platforms, we continue to make changes in the organization to enhance
communication and maximize our intellectual capital.  With that in mind, we
are pleased to announce the following organization changes within Global
Technology:

Jay Fitzgerald, MD eCommerce, will be moving to Enron North America and will
have responsibility for all of ENA,s eCommerce initiatives.  Although this
will be a big loss for Global Technology, Jay will provide immediate benefits
to the explosion of eBusiness opportunities that are developing in the ENA
lines of business.  Jay will report to Greg Whalley.

Steve Horn, VP Investments, will be moving into Global Technology to head the
eCommerce Ventures group responsible for eCommerce merchant investing.  The
scope of this new group will include investing in the following areas:
Strategic sourcing/procurement/demand aggregation/asset disposition businesses
eCommerce enabling technologies
Global eCommerce opportunities outside of EBS/ENA/EE.   EBS, EE and ENA will
be evaluating and making equity investments within their specific business
units.
Examining Houston technology business opportunities not directly related to
Enron,s business.
Steve will report directly to me in his new role.

Jenny Rub has accepted the newly formed position of VP of Infrastructure for
Enron Corp.  Her responsibilities include managing all IT infrastructure
support activities.  Jenny will report to Philippe Bibi.  Jenny is currently
VP and CIO for the Gas Pipeline Group and she will be transitioning out of
that role as she completes several important initiatives.

Beth Perlman has recently relocated to the United States as VP of ENA,s
application development, RAC and Treasury applications.  She was previously
heading up application development for Enron Europe.  She will report to
Philippe Bibi.

Dan Bruce, VP, is responsible for IT support in the international regions,
EE&CC and Asset Operations.  He will report to Philippe Bibi.

John Pavetto, VP, will be responsible for all eCommerce initiatives outside
of EnronOnline.  John will report to Philippe Bibi.

Jay Webb, Sr. Director, will continue to lead the Enron Online Team reporting
to Philippe Bibi.

Arshak Sarkissian, Sr. Director, has accepted a position with EBS,s strategic
development group and will be transitioning his responsibilities over the
course of the next few weeks.  He will report to Scott Yeager.

Please join me in congratulating everyone on their new positions.


Attached below is the revised version of the Purchase and Sale Agreement with
the changes we discussed today.  Call with any questions.  Thanks.  Shonnie
----- Forwarded by Shonnie Daniel/HOU/ECT on 09/15/2000 05:01 PM -----

	"HAL HALTOM" <HALTH@andrews-kurth.com>
	09/15/2000 03:56 PM

		 To: <Shonnie.Daniel@enron.com>
		 cc:
		 Subject: Project 20/20 - Revised PSA

Attached is a revised blacklined copy of the Purchase and Sale Agreement.

 - Blackline PSA.doc


You are the greatest!
I will check with my people and make sure that date works, and confirm with
you by COB tomorrow.
I am relieved to hear you are still alive, by the way.

From: Jeff Dasovich on 01/23/2001 04:23 PM
Sent by: Jeff Dasovich
To: Susan Scott/ET&S/Enron
cc:

Subject: Re: Response to ORA/TURN petition

the 14th and the 14th (seriously, sorry---that work)!

	Susan Scott
	01/23/2001 04:20 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: Re: Response to ORA/TURN petition

Pick a first and second choice:  Feb. 8, 14 or 15.

From: Jeff Dasovich on 01/23/2001 03:56 PM
Sent by: Jeff Dasovich
To: Leslie Lawner/NA/Enron@Enron, Jeffery Fawcett/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron
cc:

Subject: Re: Response to ORA/TURN petition

Leslie:  Jeff and Susan might be able to help with the pipeline charges.
Susan:  I'm not ignoring you.  Of course I'll come.  Give me a call and let's
figure out a date for me to address your illustrious group.  Jeff:  How's
married life treating you.  Leslie:  Sorry for all the extraneous babbling.

Best,
Jeff

	Leslie Lawner
	01/23/2001 03:20 PM

		 To: mday@gmssr.com
		 cc: Phillip K Allen/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Rebecca W
Cantrell/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Frank Ermis/HOU/ECT@ECT,
James Shirley/HOU/EES@EES, Roger O Ponce/HOU/EES@EES, Don Black/HOU/EES@EES,
Robert Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Response to ORA/TURN petition

Mike - Here is the situation.  Between ENA and EES, we sell gas to core and
non-core customers, and also have gas in storage as well as in the park and
lend service.  I think we can be sympathetic to the ORA argument that the
diversion tariff penalties did not anticipate OFOs and EFOs in situations
such as we face here (shortages due to credit problems rather than lack of
supply).  Assessing extreme penalties, as the OFO/EFOs would do, on users who
are not perfectly imbalance under this situation certainly seems unfair.
However, I think we should argue that limiting the payments to
shippers/customers whose gas is diverted to serve core customers to a market
index may not fully compensate for the diversion.  The pay back specifically
does not include interstate pipeline charges, and there may be other costs as
well to the marketer/customer who had supplies taken away.

I need an estimate of the cost to make this filing and follow it up for the
RCR process, and I would also like any feedback anyone has on what our
position should be in this matter.  The response is due Friday.


Wes, please have the detailed HPL numbers available to discuss on Monday.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 07/19/2000
09:34 PM ---------------------------

Brian Redmond
07/19/2000 03:02 PM
To: David W Delainey/HOU/ECT@ECT
cc: Jean Mrha/NA/Enron@Enron, Julie A Gomez/HOU/ECT@ECT, Wes
Colwell/HOU/ECT@ECT, Patrick Wade/HOU/ECT@ECT, Timothy J
Detmering/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Michael C Bilberry/HOU/ECT@ECT, Jim
Coffey/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron, Todd Busby/NA/Enron@Enron
Subject: Re: Project Triple Lutz/Tarantula

Team:

I have scheduled a meeting for 2 August to review our Triple Lutz and
Tarantula deliverables.  A preliminary summary of our current status is as
follows:

1.  Entex Contract - (John L.)
 -  T. Martin cost to unwind Texas desk P/L (incl. Entex) = $134.881MM
 - J. Schwieger cost to unwind storage book = $28MM

2.  Storage Value Algorithm - (Jean M., John L., Jim S.)
 - J. Mrha discussions with J. Schwieger and J. Lavo continuing
 - Working on reconciling EOY balancing and modeling physical storage
constraints

3.  Storage Acquisition Targets - (Jean M., Julie G.)
 - Target list prepared, preparing facility costs analysis.

4.  Bammel Header - (Jean M.)
 - Analyzing Northern Texas and Beaumont Markets

5.  Project Torque: (Wes C., J. Coffey)
 -  P/L established based on physical gas flow from POPS system and $ flows
  from general ledger.  No direct tie to UNIFY settlements information
  but now numbers are reconcilable
 -  1999 Margin Summary
  Gross Margin = $111MM (not including financial trading),
  Net Margin = $101MM
  EBITDA (HPL standalone before G&A) = $48MM
  EBITDA (HPL standalone) = $35MM
 -  Book Value Summary
  Non-Houston BV of  $398MM (incl. $129MM monetizations)
  Houston BV (incl. FV) = $2.3 bn  + Texas & Storage P/L unwind of $163MM
   requires a lease payment for Houston assets
   of $19MM over 30 yrs
  Pad gas BV = $153MM  (on basis of $2.34/mmBtu) not included in above
  Working gas BV = $116MM (on basis of $2.34/mmBtu) not included in above

6.  HPL Acquisition (T. Detmerming):
 -  Base Case Structure:  sale of non-Fair Value assets, 30 yr. lease of FV
assets
  Both bidders want ENA to provide/contribute trading and business operations
  services.
 -  Duke Field Services:  interested in base case structure, wants ENA to
provide
  trading services on a contract basis under a JV arrangement (Bridgeline)
 -  AEP:  interested in base case structure, wants ENA to sell trading desk
(and
  potentially provide business operation services under a service
arrangement)
 -  Info memo being prepared to be delivered in August, data room being
formed.

David W Delainey
07/05/2000 12:33 PM
To: Jean Mrha/NA/Enron@Enron, Julie A Gomez/HOU/ECT@ECT, Brian
Redmond/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT,
Patrick Wade/HOU/ECT@ECT, Timothy J Detmering/HOU/ECT@ECT, Jeff
Donahue/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
cc: Mark Frevert/NA/Enron@Enron
Subject: Project Triple Lutz/Tarantula

Guys, as a follow up to our meeting today, I thought I would put together a
list of deliverables agreed to in the meeting.  The goal would be to have a
definitive strategy for HPL and storage assets by the end of July that could
be acted upon.

 a) Elimination of the Entex contract - current value - John L.;
 b) Storage value algorithm incorporating spread values, increasing intra-day
and monthly volatility and blowdown values - Jean M, John L, Jim S.;
 c) Storage acquisition targets and issues surrounding value/execution - top
5 to 10 for blowdown and tarantula strategy - Jean M, Julie G.;
 d) Structure, value, cost and issues surrounding Bammel "header" - Jean M.;
 e) Project Torque - definitive balance sheet, income statement and
contribution margin statement for HPL - Wes C.;
 f) Establish viability of selling HPL assets - small private placement -
working with Lehman to finalize value, exection risk, timing, structure et al
- Patrick   W.

 I would like this group to get back together in the fourth week of July to
determine a final action plan.

Regards
Delainey


gb -7 200
denver -7 200


The total mark to market value for US Gas EOL deals as of 08/31/2000 was:

   $332,200,027

Physical deals totalled $(5,441,280).  Financial deals totalled $337,641,307.

Let me know if you have any questions.

Thanks,

Errol, X5-8274


Not at all!  Fawcett's the antsy one; he is anxious to use his new honorary
law degree (ahem!).
I agree it would be risky to indicate our wholehearted support of a
settlement when the agreement has yet to be written.  It would be like giving
SoCal a signed blank check (that's carte blancheto us lawyers), and we don't
trust them that much.
Once we've signed a real agreement, I do want to file something in support.
I'm just trying to plan ahead, is all.

Jeff Dasovich @ EES on 04/04/2000 04:32:07 PM
To: Susan Scott/ET&S/Enron@ENRON
cc: Jeffery Fawcett/ET&S/Enron@ENRON

Subject: Re: I.99-07-003: Post-Interim Settlement Agreement

OK, you folks are getting antsy out there.  I haven't yet begun to think
about a declaration.  And don't plan on thinking about one until 1) the
Commission has approved the motion, and 2) Socalgas shows during the first
week or so that it intends to faithfully put into details what it has agreed
to in principal.  Also, if the motion is approved, the hearing likely won't
happen on the 11th (one would hope).

Am I missing something?  Are you folks concerned about something that I'm
missing?