This request is complete.

Faheem, I think we need to sit down together for 30 minutes or so discuss the approval process so I am more aware.

Mark

-----Original Message-----
From: Qavi, Faheem
Sent: Thursday, November 01, 2001 9:01 AM
To: Dietrich, Dan; Hall, Mark
Subject: RE: enron internet explorer trusted sites list

Dan,

        No problem.  I just spoke with Cooper and he is sending me a justification for requesting this.  I will keep you posted.  Thanks.

Faheem A. Qavi
Enron Net Works
IT Security & Controls
* Faheem.Qavi@Enron.Com
(  (713) 345-8338

-----Original Message-----
From: Dietrich, Dan
Sent: Thursday, November 01, 2001 7:58 AM
To: Qavi, Faheem; Hall, Mark
Subject: RE: enron internet explorer trusted sites list

Faheem,

My understanding was that discovery was part of the IT Security and Controls function before approval was granted.

Please advise if this is not the case.

Regards,

Dan

-----Original Message-----
From: Qavi, Faheem
Sent: Wed 10/31/2001 8:25 AM
To: Hall, Mark; Dietrich, Dan
Cc:
Subject: FW: enron internet explorer trusted sites list

Mark,

        I am going to have to defer this to Dan for an answer.  I am not sure of the justification that was given.

Dan,

        Can you please follow up with Mark on his question below?  Thanks.

Faheem A. Qavi
Enron Net Works
IT Security & Controls
* Faheem.Qavi@Enron.Com
(  (713) 345-8338

 -----Original Message-----
From:   Hall, Mark
Sent:   Tuesday, October 30, 2001 4:37 PM
To:     Qavi, Faheem
Subject:        RE: enron internet explorer trusted sites list

Any information on this would be great?

 -----Original Message-----
From:   Hall, Mark
Sent:   Monday, October 29, 2001 10:00 AM
To:     Qavi, Faheem
Cc:     Dietrich, Dan
Subject:        RE: enron internet explorer trusted sites list

I am just curious... why do they have to be listed as a trusted site?

Mark

 -----Original Message-----
From:   Qavi, Faheem
Sent:   Monday, October 29, 2001 7:20 AM
To:     Hall, Mark
Cc:     Dietrich, Dan
Subject:        FW: enron internet explorer trusted sites list

Mark,

        This has been approved by IT security & Controls.  Please implement for Mr. Richey.  Thanks.

Faheem A. Qavi
Enron Net Works
IT Security & Controls
* Faheem.Qavi@Enron.Com
(  (713) 345-8338

 -----Original Message-----
From:   Dietrich, Dan
Sent:   Monday, October 29, 2001 8:28 AM
To:     Qavi, Faheem
Subject:        FW: enron internet explorer trusted sites list

 -----Original Message-----
From:   Richey, Cooper
Sent:   Monday, October 15, 2001 3:05 PM
To:     Dietrich, Dan
Subject:        enron internet explorer trusted sites list

Dan,

there is a list of default "trusted sites" within the enron version of IE and i would like to get albertapower.enron.com added to this list.

i'm not sure how this list gets populated (whenever IE runs or when it is installed).

To get to this list go to Tools->Internet Options->Security->Trusted Sites->Sites...

Do you have any idea about how to get a site added to this list?

other sites on this list are:

tradeportal.corp.enron.com
*.pjm.com
powermarketmodelling.corp.enron.com
marketdataviewer.corp.enron.com
livelinkeu.corp.enron.com
eurohydro.corp.enron.com

thanks for any help,
cooper


Kimberly and John:

Attached please find the index language for the ERCOT Balancing Services data a while back for Doug.  John, is this what you need?  I was thrown off by the reference to the East Power portal site in your e-mail to Kimberly.

Leslie Hansen
*36121

-----Original Message-----
From: Gilbert-smith, Doug
Sent: Tue 8/14/2001 5:38 PM
To: Hansen, Leslie
Cc:
Subject: RE: New ERCOT Index Language for EOL

That looks good. If you could forward the rest of the language vis a vis the fixed price and re-settlement language. Otherwise this looks in line with what we need.

Thanks very much,

Doug

 -----Original Message-----
From:   Hansen, Leslie
Sent:   Tuesday, August 14, 2001 2:32 PM
To:     Lozano, Melba; Walker, Chris
Cc:     Gilbert-smith, Doug; Portz, David; Hendry, Brent
Subject:        New ERCOT Index Language for EOL

Below please find three new EOL indexes for ERCOT.  Please give me a call with any questions or comments.

Thanks,

Leslie

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

ERCOT Zone North 2001 Peak:  The Floating Price during a Determination Period shall be the average of the quarterly hour prices listed in the Index for power delivered during Peak hours on each Delivery Day during the applicable Determination Period.  The Floating Price for each Determination Period shall be calculated utilizing the quarterly hour prices published by the Electric Reliability Council of Texas, Inc. ("ERCOT") on ERCOT's official web site currently located at <http://mospublic.ercot.com/ercot/jsp/balancing_services_mcp.jsp>, or any successor thereto, under the heading "Balancing Services MCP; Zone North 2001" (the "Index").

ERCOT Zone South 2001 Peak:  The Floating Price during a Determination Period shall be the average of the quarterly hour prices listed in the Index for power delivered during Peak hours on each Delivery Day during the applicable Determination Period.  The Floating Price for each Determination Period shall be calculated utilizing the quarterly hour prices published by the Electric Reliability Council of Texas, Inc. ("ERCOT") on ERCOT's official web site currently located at <http://mospublic.ercot.com/ercot/jsp/balancing_services_mcp.jsp>, or any successor thereto, under the heading "Balancing Services MCP; Zone South 2001" (the "Index").

ERCOT Zone West 2001 Peak:  The Floating Price during a Determination Period shall be the average of the quarterly hour prices listed in the Index for power delivered during Peak hours on each Delivery Day during the applicable Determination Period.  The Floating Price for each Determination Period shall be calculated utilizing the quarterly hour prices published by the Electric Reliability Council of Texas, Inc. ("ERCOT") on ERCOT's official web site currently located at <http://mospublic.ercot.com/ercot/jsp/balancing_services_mcp.jsp>, or any successor thereto, under the heading "Balancing Services MCP; Zone West 2001" (the "Index").


SIVY ON STOCKS from money.com
May 25, 2001

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Small is beautiful

Stocks with market caps of less than $7 billion are cheaper than the
market's giants -- and are likely to outperform them.

By Michael Sivy

For most of the past seven years, stocks with the largest market
capitalizations outperformed mid- and small-cap stocks. As a result, the
big guys grew more overvalued relative to smaller companies. In the wake of
the tech wreck that valuation gap is narrowing, but there's still a long
way to go. And that means opportunity.

Shares of the 300 largest companies -- those with market caps of roughly $7
billion or more -- trade at an average P/E of around 23. Smaller companies
have average P/Es in the 16 to 19 range. P/Es vary with companies' earnings
growth rates, of course, but right now smaller stocks offer growth at a
cheaper price. As investors realize what good deals are available, share
prices of those companies are likely to benefit from rising price/earnings
multiples. Here are three companies that look well worth further investigation:

T. Rowe Price [TROW] is a stock I've always liked. The share price has gone
nowhere since 1998 -- the stock traded in the high $30s back then and is
currently at $36.70. The reason, not surprisingly, is the economic downturn
-- mutual fund companies take such setbacks especially hard. But T. Rowe
Price seems to be past the worst -- the share price is up 25 percent since
the April lows. I view this stock as a lot more than just a cyclical play,
however. Mutual funds companies earn profits based on the dollar-value of
the assets they manage. And those assets grow in two ways. First, investors
can add new cash to funds. Except for a couple of months earlier this year,
inflows into stock funds have remained uninterrupted for most of the past
decade. That trend will continue as Americans become increasingly
responsible for providing for their own retirement. A fund company's assets
under management also grow, however, simply because the market rises over
time, increasing the total value of the stocks in the funds they run. So if
the S&P 500 returns 12 percent a year, T. Rowe's profits should climb a bit
faster. The shares currently trade at 24 times this year's estimated earnings.

St. Joe [JOE] is a special situation -- a real estate holding company that
controls a big chunk of the Florida panhandle. Much of the company's 1
million-plus acres -- or nearly 3 percent of the state -- is beachfront or
near-waterfront (within 10 miles of the Gulf Coast). St. Joe is a competent
developer of resorts and planned communities, but in truth the stock is a
play on the opening up of the Florida panhandle. Acreage there is cheaper
than along other parts of the Gulf Coast because of lousy transportation
and infrastructure. More highways and an enlarged airport are in the works,
however, and as they're completed land values could rise substantially. At
$25.70, the shares look a bit dear on a price-to-earnings basis, but St.
Joe is really valued on its assets.

Whole Foods Market [WFMI] operates a chain of more than 120 natural foods
supermarkets, making it the category leader. A quarter of the stores are in
California, and profit margins have been hurt there by power shortages.
Nonetheless, earnings were up more than 10 percent in the most recent
quarter. And the company has indicated that earnings could grow at a 15
percent-plus annual rate in the second half. Analysts believe Whole Foods
could more than double its number of stores over the next seven years,
simply by expanding to other parts of the U.S. The chain's compound
earnings growth is projected at up to 20 percent for the next five years.
At $56.30, the stock, which will soon split 2-for-1, trades at 26 times
this year's estimated earnings.

###

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http://www.money.com/depts/investing/sivy/index.html

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Janet -

1.	The best split is probably just 50/50 on personnel.  While everyone is in a specific box on the org chart, many if not all of the people are flexible enough that they can cover different roles.  The $ on outside services may be able to be split differently going forward (for example, if EES wants something specific on a state PUC matter).
2.	In terms of approving outside service expenditures, I would like to sit down with you, Louise, and Rick to work out what the best method of working through the approvals.  I will try and set up some time the first week of December.
4.	I have put Steve Montovano in the NE Gas box.  This will increase the budget by $400k (based on historical figures).  I have attached a new org chart to represent this change.

Also, Dan Staines (who is not on the Org Chart) has an Employment contract that ends 6/12/2002.  Dan has been working on Florida and Northeast RTO matters and continues to help East Power with the NYISO TCC auction.  We can sever him, but his contract will need to be paid off ($87k).  Govt Affairs also has a contract for support with Joe Connor (ex-Southern exec) to support our SE activities.  I am trying to get a copy of the contract, but I think that it is in place until 8/02.  My recommendation is to use these guys through their contracts instead of a large payment today.

Thanks,

Jim

 -----Original Message-----
From: 	Dietrich, Janet
Sent:	Tuesday, November 20, 2001 12:00 PM
To:	Shapiro, Richard
Cc:	Delaney, David; Steffes, James D.; Kitchen, Louise; Lavorato, John
Subject:	FW: Govt Affairs Org Chart

EES is fine with the Org. chart below. I understand the $6.4 million is total for both ENA & EES. Comments:

1.) Need a recommended split of the $6.4 million for ENA/EES.
2.) I understand the $6.4 million includes $0 for Outside Services. The OOC of ENA/EES needs to approve as these services are needed.
3.) The $6.4 million does include legacy real estate costs. Jim Fallon is the coordination point on our real estate costs-is this on his radar screen?
4.) We need to reconcile what we do with Steve Montovano. Because both ENA/EES want to utilize him, I might suggest leaving him in the regulatory group so that both groups can effectively utilize him. Louise/Jim- are you both OK with this? If so, Rick/Jim, I would suggest putting him in the NE Gas Box.
5.) Rick, I understand you're talking with Kean/Whalley on handling the Washington office activity in Corp. I agree.

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Monday, November 19, 2001 6:12 PM
To:	Dietrich, Janet
Cc:	Shapiro, Richard
Subject:	Govt Affairs Org Chart

Janet --

Here is the org chart that captures our discussions.  I think that this org and the # of people is the lowest level that can even try to meet the combined needs of ENA and EES.

Total headcount = 21.  The personnel cost = $6.4 MM (total for ENA and EES).

Please let me know if you have any questions.

Jim

 << File: ENA EES Govt Affairs 11.17.01.ppt >>


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/crude24.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas24.pdf

Distillate and Unleaded charts to follow.

Dec WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clz-qoz.pdf
Dec Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Dec Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Dec/May Heat Spread     http://www.carrfut.com/research/Energy1/hoz-hok.pdf
Jan/Feb Heat Spread     http://www.carrfut.com/research/Energy1/hof-hog.pdf
Nov Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hux-hox.pdf
Dec Gas/Heat Spread     http://www.carrfut.com/research/Energy1/huz-hoz.pdf
Nov/Mar Unlead Spread
http://www.carrfut.com/research/Energy1/hux-huh.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG24.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG24.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL24.pdf

Scott Oblander
312-762-1015
312-762-1014 fax
Carr Futures
150 S. Wacker
Suite 1500
Chicago, IL 60606


Enron is forming a new organization - - the Enron Xcelerator - - to drive the
formation and development of new businesses at Enron.  Enron's unique ability
to start and develop new businesses has driven most of our growth over the
years.  Lou L. Pai, currently Chairman and CEO of Enron Energy Services, will
lead the Xcelerator.  Over his years at Enron, Lou has been key to the
creation and rapid growth of our wholesale gas, wholesale power and energy
service businesses.  The existing business units will continue their
development of core businesses, while the Xcelerator will be responsible for
developing new business opportunities that are natural extensions of Enron's
business model and core skills, but not currently under development elsewhere
in Enron.

Dave Delainey, currently President and CEO of Enron Americas, will become
Chairman and CEO of Enron Energy Services.  Dave brings a wealth of
experience and accomplishment from Enron Wholesale Services' businesses where
he led the growth of our Canadian business and our North American origination
activity and, most recently, had a great year in Enron Americas.

Dave is forming an Office of the Chairman in EES.  Joining Dave in the Office
of the Chairman are Dan Leff, President of EES, Global Energy Services, and
Marty Sunde, President of EES, Global Marketing and Services.  Dan and Marty
have been instrumental in the development and execution of the successful EES
business model.  Also joining the Office of the Chairman of EES is Janet
Dietrich as Chief Operating Officer.  Janet, currently is Managing Director
in Enron Americas, where she has been successful in many of Enron Wholesale's
core businesses, including gas trading, risk management and structural
origination.  Tom White will continue as Vice Chairman of EES and will focus
on the development and expansion of EES' customer relationships.  Lou, Tom,
Dan, Marty and the entire EES organization have developed a great business
model with great growth prospects.  EES has become an essential part of
Enron's market valuation and growth story.  This new leadership structure
will enable EES to continue on its path of sustained growth and increasing
profitability.

John Lavorato will succeed Dave as President and CEO of Enron Americas.  John
has been an essential part of Enron's energy trading success over the years
and is a key part of Enron Wholesale Services' continuing success story.
Joining John is Louise Kitchen, currently President and CEO of Enron
NetWorks.  Louise, who accelerated Enron's outstanding growth with the
deployment of EnronOnline, will take over as Chief Operating Officer of Enron
Americas.

Philippe Bibi, currently Chief Operating Officer of Enron NetWorks will take
over as President and CEO of Enron NetWorks.  Under Philippe's leadership,
Enron has become a technology leader and the leading e-commerce company.
Joining Philippe as Chief Operating Officer is Greg Piper, currently Managing
Director of Enron NetWorks.  Greg currently leads Enron NetWork's origination
activity and was responsible for the creation and deployment of ClickPaper,
Enron's successful online pulp and paper marketplace.

Please join us in congratulating all of these individuals on their
achievements and their new responsibilities.


Shane:

Attached for your further handling is our standard "sample" ISDA Master Agreement.  Please don't hesitate to contact either Sara (x35620) or me (x33907) with any questions or comments.

Marie


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
----- Forwarded by Sara Shackleton/HOU/ECT on 03/15/2001 03:52 PM -----

	TeiglandL@sullcrom.com
	03/15/2001 03:42 PM

		 To: sara.shackleton@enron.com
		 cc:
		 Subject: SIDE LETTER FOR ALLEGHENY ISDA

.... is attached for your review (note: it is the first letter of two in the
document).

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - Allegheny  ENRON side letters(v3).DOC


I agree.  I am almost through it -- and while there are improvements per our suggestions from the first draft -- there are both substantive and format problems -- i.e., it does not read very well in places, aside from substance.  Will fax Amr my comments on the text and leave with DC colleagues as I will be up in the Senate on RTOs this afternoon.

Thanks.

 -----Original Message-----
From: 	Ibrahim, Amr
Sent:	Thursday, September 06, 2001 1:39 PM
To:	Steffes, James D.; Vegas, Dennis; Mara, Susan; Dasovich, Jeff; Kaufman, Paul
Cc:	Shelk, John; Shortridge, Pat; Nord, Sue
Subject:	Gine Project-  Briefing book sections DRAFT

Sue, Jim, Jeff, Paul:
In the context of GNIE Project and the papers that shall be put forward to the participants, I am seeking your help in providing comments on paper one in the list below.  I can not recommend it in its current form since it departs from Enron's line of thinking in many places.  There is a tendency to make these papers neutral, but I found it actually going the other direction.

Kindly advise of your point of view.  It is time sensitve, and I appreciate your help

Brgrds

AI

Dennis:

I shall ask for a delay in reference to this paper for 48 hours till I consult with the colleagues above.  Thank you.

AI

-----Original Message-----
From: 	Vegas, Dennis
Sent:	Friday, August 31, 2001 1:19 PM
To:	Ibrahim, Amr; Shortridge, Pat; Shelk, John
Cc:	Robertson, Linda; Shapiro, Richard; Allen, Margaret
Subject:	FW: Briefing book sections DRAFT

Attached as discussed is the second draft of the briefing documents for the Oct event. They have been separated per our request. These are fresh from Intellibridge and we in Houston have not reviewed them as well, but will be doing so over the weekend.

The documents are attached in the order in which we intend them to appear in
the Briefing Book:

1. Brief History of the Western Power Crisis (Western Power Crisis.doc)
2. Western Power Crisis Timeline (timeline.pdf) -- (Please note that on this
timeline, we still need to cite sources for each of the date entries. Their
graphic designer will be able to do this for us on Wednesday of next week).
3. Responses to the Nation's Energy Crunch (energy crunch clean.doc)
4. Federal vs. State Energy Policy Jurisdiction (fedvsstate.doc)
5. The Status of U.S. Electricity Restructuring (progress of states.doc)

If the regulatory and government team could consolidate their feedback, it would be helpful. Once done, we would like to schedule a call for next Thursday at 3:30 pm, since we would like to do it when Intellibridge is in the DC office.
Regards,

 - Western Power Crisis.doc << File: Western Power Crisis.doc >>
 - timeline.pdf << File: timeline.pdf >>
 - energy crunch clean.doc << File: energy crunch clean.doc >>
 - fedvsstate.doc << File: fedvsstate.doc >>
 - progress of states.doc << File: progress of states.doc >>


Louise,

I believe the following will clarify the question from our meeting yesterday,

The $20MM figure that I was showing to you represents the NPV (discounted @17.6%) of the future cashflows of the project for 100% ownership from June/01 Through Dec/17.  This number does not include the moneys than Enron will have put into the project  by that time.  The amount put by Enron by that time will be $18MM (for 100%)

If we do de transaction, we will get the following cashflows:
The premium 							$14.1MM
Reimbursement of 80% of the $18MM already put by Enron	$14.4MM
Keep 20% of future NPVs					$   4.0MM
The potential investor will contribute in the future the equity contributions for 50% of the ownership
The potential investor will give us in June/01 the amount of future equity contributions for the 30% of the ownership

The above shows the cashflows that we will be received under the 2 alternatives but this does not reflect the transaction from an earnings perspective.

From the earnings perspective,  the following is a simplified estimation of earnings for the next 7 years under the two situations:

Please, let me know if you need further clarification

Thanks, Mar?a Elena

P.S.  Regarding  the $23MM NPV number that you see in Max's presentation, that is the project NPV when all cashflows discounted @ 13.2%. The IRR for the project is 17.6%


John:
I have asked Mike and Larry to spend half an hour each talking to you about
opportunities on the gas floor.  Please advise if the following schedule is
unacceptable.  I will be leaving today at 2:15.
Larry 4:00-4:30
Mike 4:30-5:00

Thanks,
John


John,

With regard to your first question, yes there are additional design
capacities to be considered. The Topock lateral, which consists of the three
Topock points listed, has a capacity of 400 MDth/d.  Additionally, the
mainline capacity going west, which serves ALL of our markets in Arizona as
well as California, is at 1090 MDth/d.

As for your second question, the data fields that were highlighted in red
were more for my reference since these required some manual review/correction
on my part.

If you need further information or explanation, please feel free to contact
me.

Thanks,
Elizabeth

John Morris <morris.j@ei.com> on 12/19/2000 02:15:56 PM
To: Elizabeth Brown <Elizabeth.Brown@enron.com>
cc:

Subject: Data

Privileged & Confidential
Prepared for Counsel

Elizabeth, thank you for responding so quickly.  I have two
questions.
1) You have total capacity of 1550 MDth/d into California.
Can TW simultaneously supply all these amounts, or is there
some lower limit for total deliveries to all 4 meters?
2) Some of the "Type" cells are colored red.  Does the red
have any meaning?

Thank you, --JRM

--
John R. Morris
Vice President
Economists Incorporated
1200 New Hampshire Avenue, NW
Suite 400
Washington, DC  20036
Voice: 202.223.4700
Fax:   202.296.7138

***************************************************
This e-mail, and any attachments thereto, is intended only
for use by the addressee(s) named herein and may contain
legally privileged and/or confidential information.  If you
are not the intended recipient of this e-mail, you are
hereby notified that any dissemination,distribution or
copying of this e-mail, and any attachments thereto, is
strictly prohibited. If you have received this e-mail in
error, please immediately notify me at (202) 223-4700 and
permanently delete the original and any copy of any e-mail
and any printout thereof.
***************************************************

<]


I bring this Minnesota bill to your attention thinking that it may be one
state that we can point to as moving forward rather than backward as a
response to California.  This bill would absolutely not have moved if
California had not been on the radar screen--for the first time in four
years, the leadership insisted that the caucuses move something out of
committee on energy.

WHile customer choice did not ultimately survive (it got knocked out towards
the end of the committee votes), there was a general agreement by committee
members that MN had to prepare for retail access, but that they needed to get
the wholesale market in better shape in preparation.

By the way, the enviromental community was very very confident that they were
going to get a mandate for a 10% renewable portfolio standard by 2015, and
they were then going to make Minnesota the poster child to promote mandated
RPS across the country.  Their mandate turned into "goals" to be met by
utilities, and they are not happy.

----- Forwarded by Susan M Landwehr/NA/Enron on 05/23/2001 07:02 AM -----

	Susan M Landwehr
	05/23/2001 07:01 AM

		 To: Fred Mitro/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Mitch
Robinson/Corp/Enron@Enron, Edward D Baughman/Enron@EnronXGate, Christi L
Nicolay/HOU/ECT@ECT, Jeff Ader/HOU/EES@EES, Mark Bernstein/HOU/EES@EES, Marc
Ulrich/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Ajit Gill/HOU/EES@EES, Jeff
Rudolph/HOU/EES@EES, Terri Clynes/Enron@EnronXGate, Oscar
Dalton/Enron@EnronXGate
		 cc: Janine Migden/NA/Enron@Enron, Roy Boston/HOU/EES@EES, Kerry
Stroup/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Robert
Frank/NA/Enron@Enron, Donald Lassere/NA/Enron@Enron, Bill J
Moore/EFS/EES@EES, James D Steffes/NA/Enron@Enron, Barbara A
Hueter/NA/Enron@Enron, Jennifer Thome/NA/Enron@Enron
		 Subject: Minnesota Energy Legislation

Earlier this week the Minnesota legislature passed an omnibus energy bill--SF
#722.  The Governor is expected to sign the bill.  Much of the bill focused
on increasing conservation, helping low income customers, setting goals for
renewable energy development, setting up reliability standards (the unions
had to get something!) etc.  However, there are also some sections that may
be commercially beneficial to us.

The bill streamlines the process for transmission siting, and to a small
degree, makes generation siting a bit easier.  Interconnection standards and
rules for distributed generation (defined as up to 10MW) are required and the
process will begin late this summer.  The munis and coops had a section on
"joint finance" that will allow them to enter into projects with other
parties--this should make it easier for them to do business with us.
Minnesota has approx 120 municipal utilities and over 40 co ops.

There is still outstanding an issue of a personal property tax exemption for
merchant plants.  That provision was transfered to the overall tax bill,
which is still being debated.  We should have a conclusion on the tax bill
late next week.

Please call if you have any questions or would like further info.
#612-339-4599


fee has been added

Stephanie Piwetz   03/29/2001 03:30 PM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Deal 563728.01

Kate, can you check fee for above deal    mark fischer
Enron sells constellation
mona
july-sept 01
610.00
we have zero fee, tfs shows .0075    Let me know and we probably need to set
mona delivery point in the system.
Thanks

sp


What is the subject matter you wish to visit about?

Nasim H Khan@TRANSREDES
04/30/2001 09:24 AM
To: Stanley Horton@ENRON
cc:

Subject: Would like to visit with you

Stan:

I will be in Houston on May 11th and would like to visit with you in early
afternoon if possible. Please let me know what time would work for you.

Regards,

Nasim Khan


Attached is the presentation for the Business Team Kickoff held last Friday.  Thanks to all of you who attended and shared information.  For those of you who were unable to attend, please let me know if I can answer any questions for you.  If you would like to print this, select File, Print, Pure Black and White.  This presentation is also accessible, along with other project information, through the Project QuickPlace site at:

http://gpgdomino.ots.enron.com/QuickPlace/ratesandrevenue/main.nsf

Wendy


Stacey,

I was wondering if there was still room in the brown bag today with Dan
Reck.  If there are spaces available, I would like to add my name to the list
of attendants.

Thanks,
Susan


that is great , how are the two of you doing these days with her back to work and life moving forward ?

tell me about the vegas trip for the 100th time , when where and $

thnx
dq

 -----Original Message-----
From: 	"Kevin" <klyn@pdq.net>@ENRON [mailto:IMCEANOTES-+22Kevin+22+20+3Cklyn+40pdq+2Enet+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 23, 2001 10:21 AM
To:	Quigley, Dutch
Subject:	Journey Rocks

We were at the Journey concert last night.  I  never knew my wife was such a big fan.

Kevin


The individual RTOs have the upper hand as far as dictating what the
scheduling practices will be.  This is driven by the fact that the RTO
efforts have focused on the scheduling needs internal to their borders.   The
problem the Electronic Scheduling Collaborative (ESC) faces is trying to
define standard business practices for OASIS II now - after most RTOs have
taken great steps to defining their own internal scheduling practices.   In
the West, there is a coordination effort to address the seams between the 3
RTOs (there are some in theEast as well).

FERC required in Order 2000, under Function 8, for RTOs to address seams
issues.   At the ESC workshop last week, several RTOs admitted that Function
8 is lowest on their list of priorities.  Several, includig a rep from the
West admitted that the real hard seams issues, those that cannot be patched,
will likely need FERC involvement to "force" a compromise or settlement.
The problem is that FERC is taking a light handed approach to the seams
problems with acting Chairman Hebert opting to rely on the RTOs themselves to
address the seams issues.   Our argument, of course, is that these are the
entities that have the least incentive to patch the seams.

So, by August, the ESC intends to file at FERC the disposition of 26
scheduling practices - whether there is a single standard for each practice,
or exactly which ones cannot be agreed upon to be standard (e.g. - losses,
ramp rates).  My supsicion is that there will be very little commonality (
for example - I am leading a group defining Congestion Management practices
that will likely find very little common practice due to the diversity of
congestion management approaches in the East) and that the filing will merely
point out that several scheduling practices need to remain inconsistent at
the borders -for reliability reasons internal to each RTO.   The threat to us
is that in order to schedule between RTOs, it may require some "lowest common
denominator" approach that burdens one market with the ineffeciencies of
another.

If there are any pressing scheduling inconsistencies you see coming that will
impede markets in the West due to the formation of RTOs, please express those
to me as I am a bit removed from the activities of the West.  Enron is party
to a petition for FERC to hold a technical conference on seams issues to
highlight the importance to the marketplace to patch the seams.  I do intend
to continue representing Enron at the ESC and hopefully with some additional
FERC initiatives, put in place as many common scheduling practices as
possible.

Cara Semperger
03/22/2001 02:55 PM
To: Charles Yeung/HOU/ECT@ECT
cc:
Subject: Electronic Scheduling

Hi Charles,

I was going over the NERC meeting minutes and noticed that you were in
attendance at the meeting.  I would appreciate it if you would tell me your
opinion about the process, your views on the Escheduling practice as it is
shaping up, and if you plan to stay involved in the ESC meetings. You are
welcome to call or e-mail me at your convenience.

Thank you,

Cara Semperger
West Power Scheduling Supervisor
503/464-3814


I have no idea what my finish time was.  It was somewhere in the 32:00 range....is there a website that I can look this up at? Thanks.

 -----Original Message-----
From: 	Richardson, Cindy
Sent:	Tuesday, June 05, 2001 9:14 AM
To:	'EnronRunners@enron.com'
Subject:	RACE RESULTS - Heights 5K

I hope everyone had a great time at the Heights 5K Fun Run this weekend.  For those that participated in the run, please send me your finishing time.

The following runners have not provided me a time:

Catalina Ayala-Nelson
Akasha Bibb
Joe Castillo
Andrew Edison
Susan Edison
Joe Kachinski
Charles Nelson
Jeanette Nickell
Monique Sanchez
Susan Scott
Karen Snow

If you were unable to participate, please reimburse the ERC as soon as possible.

Checks payable to:	Enron Running Club
Amount:		$18.00
Send to:		Cindy Richardson, EB4845.

Thanks!


The report named: West VaR <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=36&report_name=West+VaR&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/26/2001>, published as of 11/26/2001 is now available for viewing on the website.


Dear Miss Symes,

Thank you for inquiring about our program! a Complete information and
application package will be sent to the address specified in your request.
In it, you will find all the information about our school, our catalogue and
application form, and all the financial aid information and application
form. Please read the instructions carefully (especially for financial
aid--incomplete application for financial aid will NOT be considered).

Additionally, while waiting for your package to arrive by mail, you may also
wish to visit the Bologna Center website (www.jhubc.it). The school updates
the site regularly and in it you will find the most recent information,
including the dates and locations scheduled for the interviews
(www.jhubc.it/admissions).

The application Deadline was February 1, 2001. However, the admissions
office is currently still accepting late material.

If you wish to apply for 2001-02 Academic Year, you should download the
forms directly from the Bologna Center website
www.jhubc.it/admissions/appdownloads), fill them out and send them via
courier as soon as possible.

Information about scholarships are available on the website (also on the
"appdownload" page). Also, you will receive a list of institutions offering
fellowships together with you application package. Please note, however,
that resources are quite limited and the selection process very competitive.
Hence, we advise applicants to look for additional contacts themselves.

I look forward to receiving your application.
Best wishes and good luck!

Tommaso Wiechmann
Admissions Office
The Johns Hopkins University
SAIS Bologna Center

-----Original Message-----
From: Kate.Symes@enron.com [mailto:Kate.Symes@enron.com]
Sent: Friday, February 23, 2001 3:05 AM
To: admission@jhubc.it
Subject: Admissions Information

I would like to request information and application materials for your
International Studies program in Bologna. I am interested in applying for
the academic year of 2002-03.

Thank you,
Kate Symes
2505 NE 32nd Place
Portland,OR 97212
(503) 288-6546

 - Tommaso Wiechmann.vcf


Hi Sara!
Can you email it to Michael Forte at ConEd as well??
Thanks!

fortem@coned.com


Joe, part of this deal is repayment of the sub debt at par and a series of
cashflows that we would probably like to monetize.  Have you looked at this?

Jeff, I would like to get your view on the economics - basically they are
giving us 89% of our carry value in cash and 11% of our carry value in a
contingent payment payable at restructuring or sale of their partnership.
Lets discuss ASAP.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 09/25/2000
08:10 PM ---------------------------

	Enron North America Corp.

	From:  Brad Alford                           09/25/2000 05:34 PM

To: David W Delainey/HOU/ECT@ECT
cc: W David Duran/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT
Subject: El Paso/ECP

At Dave Duran's request I have attached for your information two files
containing a term sheet from El Paso reflecting the final terms as negotiated
and a spreadsheet analysis of the valuation of that offer ($206.6mm).  The
offer analysis uses a discount rate on the El Paso Deferred and Scheduled
Payments of 8.25%.  This rate is the middle of the range of a recent quote
from Treasury/RAC as to the expected rate at which we will be able to
monetize this payment stream.  The Contingent Payments are in the form of a
residual preferred partnership interest that we will retain and are
discounted at the current project rate with a probability adjustment.  The
residual partnership interest should allow us to fair value these contingent
payments (as we are currently doing on the existing contingent payments) and
should also be beneficial to the tax structure of the transaction.


Please approve.  If you have any questions please let me know.

---------------------- Forwarded by Steve Hotte/Corp/Enron on 12/13/2000
12:55 PM ---------------------------

Rita Houser
12/13/2000 11:08 AM
To: Steve Hotte/Corp/Enron@ENRON
cc:

Subject: Exp. Rpt. - Hotte


no way! you look MUCH better than that!


To respond to the needs of our customers the following management
appointments are effective immediately:

Alan Stringer, EHS Director based in London will be responsible for European
/ Asia / India Regions.  Alan  will continue to report to myself and Brian
Stanley (based in London).   Bal Wong EHS Manager based in Guam will report
to Alan.   Alan  and Bal form a great team.  Both have extensive experience
in undertaking and providing support for Environmental Due Diligence projects
throughout the world for the past ten years for various blue chips, lawyers,
banks and venture capital companies averaging several billion dollars worth
of assets reviewed each year for the past 5 years.  Both can provide an
extensive depth of knowledge as internal consultants in assessing
environmental health and safety risk and supporting development of risk
mitigation measures that can be applied in the sale and purchase agreements
and contracts.  Both have impressive experience in remediation technology.

Attached is a flow chart for environmental and social due diligence that
shows our organization and responsibilities.

Henry Van
General Manager, EH&S
Asset Operations


Hey Mr. South, how's it going?  Sorry to bother you but I just wanted to
tell you that I am no longer going to California at the end of May.  I will
I finish up my exams during the week of May 13th, so I could start anytime
after that week.  Just let me know whenever you find out about an
internship.  Thanks a lot!

Brandon


Hi Charlotte,

We've been invited to someone's house for dinner on Feb 2.  Can you take care
of Michael?  The dinner is in River Oaks, so we could just drop him off.

Michael  got a hair cut this weekend.  I think it makes him look taller.  I
wish it worked that way for me!  It is very short, and I think very cute.

Kay


More fun for your file.
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/21/2000 06:14
PM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 12/21/2000 04:54:21 PM
To: "George Kutzschbach (E-mail)" <gkutzschbach@fulbright.com>
cc: "Kay Mann (E-mail)" <kay.mann@enron.com>

Subject: FW: CA Development I

-----Original Message-----
From: Thompson, Peter J.
Sent: Thursday, December 21, 2000 5:39 PM
To: Kay Mann (E-mail)
Cc: Kent. Shoemaker (E-mail); Lee. Johnson (E-mail); Pipitone, Paul;
Cobb, Chris
Subject: CA Development I

    Attached please find the most recent version of the CA Development I
Agreement and Exhibits as well as a blackline against the version
circulated on December 4.  I will be forwarding to Kay Mann the
execution copy that will incorporate both the agreement and exhibits
into one document, which will also include Exhibit H-2.
 <<CA Energy Development Agt - Comparison v. 2 to 4.DOC>>  <<CA
Development I Exhibits Comparison v 1 to 3.DOC>>  <<Exhibits to CA
Development I Energy Break-Out Agreement CISO1 12/15/00.DOC>>  <<break
out agreement for CIS01 (12/20/00).DOC>>


Clint:  Please verify cap of 4,164,300, Price Trigger Event occuring at USD
55.00 for 3 consecutive Exchange Business Days and Spread of +.60 % from
8/4/00 through 11/16/00 and +.80% from 11/17/00 through 8/4/01.

Ryan:  Check my voice mail about revising your language to add "in bankruptcy
or in liquidation".
----- Forwarded by Sara Shackleton/HOU/ECT on 11/13/2000 11:10 AM -----

	"Franz, Philip" <pfranz@lehman.com>
	11/13/2000 09:39 AM

		 To: "'sara.shackleton@enron.com'" <sara.shackleton@enron.com>,
"'clint.freeland@enron.com'" <clint.freeland@enron.com>
		 cc: "Rosica, Paul" <prosica@lehman.com>, "Karna, Angie" <AKarna@lehman.com>,
"Franz, Philip" <pfranz@lehman.com>
		 Subject: Enron Forward/Assignment confirms

Sara and Clint,
For your review per Paul...

 <<ENA.ENE.Assignment.11.13.00.doc>>

 <<Enron.forward.11.13.00.doc>>

 <<ENRON.ML.Assignment.11.13.00.doc>>

Regards,
Phil

Phil Franz
Transaction Management/Equity Derivatives
Lehman Brothers
(212)526-8482
pfranz@lehman.com
> This message is intended only for the personal and confidential use of the
> designated recipient(s) named above.  If you are not the intended
> recipient of this message you are hereby notified that any review,
> dissemination, distribution or copying of this message is strictly
> prohibited.  This communication is for information purposes only and
> should not be regarded as an offer to sell or as a solicitation of an
> offer to buy any financial product, an official confirmation of any
> transaction, or as an official statement of Lehman Brothers Inc., its
> subsidiaries or affiliates.  Email transmission cannot be guaranteed to be
> secure or error-free.  Therefore, we do not represent that this
> information is complete or accurate and it should not be relied upon as
> such.  All information is subject to change without notice.
>

 - ENA.ENE.Assignment.11.13.00.doc
 - Enron.forward.11.13.00.doc
 - ENRON.ML.Assignment.11.13.00.doc


Peter Newton
4400 Memorial Drive, Apt. 2054
Houston, TX 77007
pnewton@whrarchitects.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Peter Newton


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/26/2000
09:12 AM ---------------------------

Stinson Gibner
07/25/2000 05:38 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Offsite Agenda - Stinson


Hunter, thanks for agreeing to set up a meeting with Mark Rogers and Joseph Cheung of Petro-Canada.

Mark and Jospeh will be in Houston on May 17th @ 2:30 pm and would like to meet with some members of the central desk to discuss Chicago and MidWest fundamentals.

Could you please reply by e-mail  directly to Joseph and Mark with the location of the meeting and other details.

Thanks

Grant

Phone list :

Hunter Shively 		713-853-4772
Geoff Storey		713-853-7058

Joseph Cheung		403-296-5108
Mark Rogers		403-296-3759


Where is the Holiday ale fest?  Is it cool? Are you on some sort of secret
beer newsletter that I am not getting?  How come I only hear about this shit
from you?  I feel out of touch with the world of brewdom


football is life :)

"Bass, Jason" <Jason.Bass2@COMPAQ.com> on 09/06/2000 08:25:15 AM
To: "'Larry W. Bass'" <lwbthemarine@bigplanet.com>, Eric.Bass@enron.com
cc: KATHY BASS <daphneco64@bigplanet.com>
Subject: RE: Bonnie

Eric has to work everything around football :)

Jason Bass
TSE
Compaq Computer Corporation

 -----Original Message-----
From:  Larry W. Bass [mailto:lwbthemarine@bigplanet.com]
Sent: Tuesday, September 05, 2000 12:03 PM
To: Eric.Bass@enron.com
Cc: Bass, Jason; KATHY BASS
Subject: Re: Bonnie

That is fine with me. How many?-Dad

----- Original Message -----
From: <Eric.Bass@enron.com>
To: <lwbthemarine@bigplanet.com>
Sent: Tuesday, September 05, 2000 11:56 AM
Subject: Re: Bonnie

>
> can we make it 10:30?
>
>
>
>
> "Larry W. Bass" <lwbthemarine@bigplanet.com> on 09/04/2000 02:23:34 PM
>
> To:   jason <jason.bass2@compaq.com>, eric preston bass
>       <Eric.Bass@enron.com>
> cc:
> Subject:  Bonnie
>
>
>
> Howdy. Bonnie will be here Thursday, for a week. If  you guys are
> available, we thought we would take all to Brunch @ SWCC, 11 a.m.  Sunday.
> Girls are invited. Let me know if you can make it and if your better
> halves will accompany you. Do so, please, by Wed., so I can make the
> reservations.-Dad
>
>
>
>


Please mark your calendars.  Emory Ireland and Martin Weinstein of Foley &
Lardner will be conducting a presentation regarding the nuts and bolts of
Letters of Credit on Wednesday, May 23, 2001 from 8:45 a.m. to 10:00 a.m. in
EB5C2.  Please RSVP to Carolyn George at ext. 33439 or
carolyn.george@enron.com if you plan to attend.

Thank you,

Julia Heintz Murray
Enron Wholesale Services
Enron Industrial Markets LLC
1400 Smith Street, EB3838
Houston, TX  77002
(713) 853-4794
Fax:  (713) 646-3393
julia.murray@enron.com


debut (day-BYOO, DAY-byoo) noun

   1. A first public appearance on a stage, on television, etc.

   2. The first appearance of something, as a new product.

   3. The formal introduction and entrance of a young woman into society,
      as at an annual ball.

   4. The beginning of a profession, career, etc.

verb intr.

   1. To make a debut, as in society or in a performing art.

   2. To appear for the first time, as on the market.

verb tr.

   1. To perform for the first time before an audience.

   2. To place on the market for the first time; introduce.

adjective

   Of, pertaining to, or constituting a first appearance:

[French debut, from debuter, to give the first stroke in a game, begin : de-,
from, away (from Old French de-) + but, goal, target, from Old French butte.]

   "The suspense builds from the first pages of Mary Howard's debut novel--
   a book so sure-handed and graceful that you might forget it's a murder
   mystery."
   Nina Sonenberg, Discovering the Body (book review), The New York Times,
   Oct 8, 2000.

This week's theme: semordnilaps, or words that spell other words when
reversed.

.............................................................................
Fame is a vapor; popularity an accident; the only earthly certainty is
oblivion. -Mark Twain, author and humorist (1835-1910)

Q: Some time ago you featured a quote about foo in AWAD. Could you resend it?
A: You may search the archives at http://wordsmith.org/awad/search.html
   or browse them at http://wordsmith.org/awad/archives.html All the
   words and quotes since the beginning of AWAD are available there.

Pronunciation:
http://wordsmith.org/words/debut.wav
http://wordsmith.org/words/debut.ram


Welcome to: DIAMONDS NEWSLETTER         Issue: 2000-11

The diamond, gems and fine jewelry information resource for
clients and friends of Diamond Source of Virginia, Inc.
http://www.DSOURCEVA.com

(unsubscribe instructions at bottom of this newsletter)
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
If you know of someone who will be getting engaged or
celebrating a special event such as a anniversary, birthday,
or baby's birth forward this newsletter to them so they will
know where to save money on a diamond or fine jewelry!
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
THIS ISSUE'S TOPICS
Topaz: November's Birthstone
Girdle
Diamonds and Grease
Natural
Famous Diamonds
The Great Diamond Hunt
Roundness
AGS Introduces Laser Inscriptions
Diamond and Jewelry Books
Internet Marketing
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

TOPAZ: NOVEMBER'S BIRTHSTONE
=============================
True topaz, symbol of love an affection, aid to sweetness of
disposition, and birthstone of November, is one of nature's
most wonderful and least-known gemstone families.  The true
topaz is rarely seen in jewelry stores.  Unfortunately, most
people know only the quartz (citrine) topaz.  In the past,
almost any yellow stone was called topaz.

Topaz occurs not only in the transparent yellow, yellow brown,
orangy brown, and pinky brown colors most popularly associated
with it, but also in light to medium red, light to medium
blue, very light green, violet and colorless.

Blue topaz has become very popular in recent years, although
most of it is treated and there is no way to determine which
is treated and which is natural.  Some of the deeper blue
treated topazes have been found to be radioactive and possibly
a health hazard.  In the United States, all blue topaz must be
tested for radiation levels.  However, be very careful when
buying blue topaz outside the United States, since it probably
has not been tested.

GIRDLE
===============
The girdle is the diamond's setting edge.  It needs to be just
thick enough to let the stone be set securely.  If it is too
thin, it is vulnerable to chipping;  too thick, and it can be
unattractive and difficult to set.  A thick girdle often creates
large, fuzzy gray reflections in the stone, especially if, as is
often the case, it accumulates dirt and grime.

On a step cut like an emerald, the girdle should be uniform in
thickness around the stone.  On a round, oval or cushion-shape
brilliant, it should undulate slightly between pairs of mains
and girdle facets and be thicker between the points of opposing
mains.  The girdle of a marquise, pear or heart is often slightly
thicker at the points to reduce the possibility of chipping.
Hearts have thicker girdles in their clefts.  Although slight
variations in girdle thickness are usually disregarded, sizable
variations can pose setting problems.

DIAMONDS AND GREASE
===================
If you wear a diamond, you probably have been surprised how
quickly a dirty film collects on the surface.  This is due
in large part to the fact that diamonds adhere to grease.  Put
your hands in dishwater and the grease quickly coats your
diamond.  The same thing happens with hand cream, body oils
and any other form of grease.

The fact that diamonds adhere to grease led to the invention of
the grease table in the late 1800s to separate diamonds for the
ore they are mined in.  The concentrate recovered from the
washing pans, pulsators, or heavy media separators is washed
over tables coated with thick grease.  The diamonds will adhere
to the table and then the resulting mixture is periodically
scraped off and melted down to remove the diamonds.

Today, the grease belt is more common.  Grease is automatically
applied at one end of a conveyor belt, the concentrates are
washed across it, and the resulting diamond-studded grease is
scraped off at the other end.

The amount of blueground (diamond ore)which has to be processed
is enormous.  Although figures differ for each mine, it takes
about 250 tons of blueground to produce a single one-carat
polished stone.

NATURAL
===========
A natural may not be a fault.  It's actually a piece of the
natural surface of the diamond crystal.  In cutting, a cutter
may decide to leave part of the "natural" rough surface in
order to get as large a diamond as possible from the rough
stone.  If this natural is no thicker than the thickness of the
girdle and does not distort the circumference of the stone,
most dealers consider it a minor defect at worst; if it extends
into the crown or pavilion of the stone, it is a serious fault.

Sometimes, if the natural is somewhat large but slightly below
the girdle, it will be polished off.  This produces an extra
facet.

FAMOUS DIAMONDS
===============
Name:  The Lesotho
Weight: 601.25 carats (rough)
Color: Brown

Lesotho is an isolated, landlocked mountain kingdom, poor
in natural resources and entirely surrounded by South
Africa. Lesotho was considered too remote to allow
profitable diamond mining.  In 1960, when the government
opened 30-square-foot claims, there was no shortage of
local prospectors seeking a big strike.  On May 26, 1967
Ernestine Ramaboa, working the claim she shared with her
husband Petrus, discovered a brown diamond of extraordinary
size.  The diamond, weighing 601.25 carats, caused a
sensation.  Eventually sold to Harry Winston who had the
diamond flown to New York and invited the Ramaboas as
his guests.

On March 5, 1968, on live TV, the stone was cleaved at
the precise point where nature left a crack in the
surface.  It was eventually cut into 18 polished stones
totaling 242.50 carats, the largest a 71.73 carat
emerald cut.

THE GREAT DIAMOND HUNT
=========================
Diamonds have been found in India for at least 3000 years.
For centuries, in fact, India was the world's only major
source, although there is no record of systematic mining
before about 1000 AD.  The Indian mines are no longer
significant producers.  Through the ages, however, new
sources are constantly discovered as older ones are depleted.

In the 1970s, gold miners in Brazil began finding shiny
pebbles which they tended to keep because they were beautiful.
Most had no idea of what they were worth, and better-informed
prospectors bought them for pocket change.

Over a hundred years later, diamonds were discovered in South
Africa, where the first alluvial (water carried)finds let
prospectors to the kimberlite pipes which had originally
brought these treasures to the surface.  This in tern led to
greater understanding of the geology of diamonds, and
transformed prospecting from a haphazard venture into a
scientific enterprise.

Today, diamonds have been found on every continent, although
not everywhere in commercially viable quantities and
qualities.  It is becoming clear that diamonds are much more
widely distributed over the entire globe than people once
thought.  Prospecting technology is also increasingly
sophisticated-the independent prospector with his shovel and
pan is being replaced by electromagnetic mapping techniques
and helicopter-mounted infrared cameras.

As a result, three out of five of today's major sources have
been discovered in the last quarter-century.  There is no
likelihood of running out of gem quality diamonds in the
foreseeable future.

ROUNDNESS
=============
A round diamond is not perfectly round and its roundness will
affect value.  The measurements of a round diamond include the
highest diameter, the lowest diameter and the depth.
Recognizing the rarity of truly round diamonds, some deviation
is permitted, and the stone will not be considered "out-of-
round" unless it deviates by more than the established norm-
approximately 0.10 millimeter (one-tenth of a millimeter) in
a one-carat stone.  In other words, the difference between the
two diameters should be less than 0.10 millimeters for a one
carat diamond, 0.12 millimeters for a two carat and 0.14
millimeters for a three carat.

AGS INTRODUCES LASER INSCRIPTIONS
=================================
The American Gem Society lab is now offering a laser
inscription service-similar to that offered by many of its
competitors-that "writes" on a stone's girdle.  The new
system an inscribe any type of gemstone, including colored
gemstones and can be used to inscribe words and/or logos,
and is experimenting with bar codes.

The AGS has become the premier grading laboratory for round
exceptionally well-cut diamonds.  When wholesalers buy stones
that have great cut they send them to the AGS for grading
even if they have been previously graded at another lab.  The
wholesalers hope to attain the AGS Ideal cut grade which means
the diamonds has Ideal polish, Ideal symmetry and Ideal
proportions.  These AGS Ideal cut diamonds are priced at a
premium but are in high demand by customers who want the best
of the best.

DIAMOND AND JEWELRY BOOKS
=========================
One of the best ways to be a better shopper for diamonds and
fine jewelry is to read one or more of the great books
listed at the following web page:
http://www.dsourceva.com/books.htm

INTERNET MARKETING
=========================
If you or any of your friends have a web site and want to know
how to get more visitors, check out some of the tools we have
found to help with internet marketing at:
http://www.dsourceva.com/internetmarketing.htm

TOPICS FOR FUTURE NEWSLETTERS
=============================
If you have any topics, questions, or issues you would like to
see addressed in future DIAMOND NEWSLETTERS, please send us
an email. Thank you.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
If you wish to unsubscribe to this newsletter, simply reply to
this email and in the subject line put only the words:
unsubscribe diamonds
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Denny & Anne Reinke
Denny@DSOURCEVA.com
1-888-477-8385 (toll free)
Diamond Source of Virginia, Inc

http://www.DSOURCEVA.com


FYI

 -----Original Message-----
From: 	eserver@enron.com@ENRON [mailto:IMCEANOTES-eserver+40enron+2Ecom+40ENRON@ENRON.com]
Sent:	Tuesday, May 22, 2001 8:47 AM
To:	jderric@enron.com
Subject:	<<Concur Expense Document>> - Houston Bar Association

The Approval status has changed on the following report:

Status last changed by: Sherri Sera
Expense Report Name: Houston Bar Association
Report Total: $170.00
Amount Due Employee: $170.00
Amount Approved: $170.00
Amount Paid: $0.00
Approval Status: Accounting Review
Payment Status: Pending

To review this expense report, click on the following link for Concur Expense.
http://xms.enron.com


Hartsoe: PJM, Hogan,SPP, WSCC,Hebert,democratic nominee, ACA
Andy Rotherham AAE membership (703)875-0764
Gordon Weil
page Maureen
Joe Allen
Dave Marquart
Richard Tabors


We need to put a briefing book together for Ken ASAP for his California trip.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/12/2000
05:15 PM ---------------------------

	Enron North America Corp.

	From:  Alyse Herasimchuk @ ENRON                           10/12/2000 01:43 PM

To: Vince J Kaminski/HOU/ECT@ECT, kristin.gandy@enron.com
cc:
Subject: Carnegie Mellon Speech

Following are the reservations for the speech on Friday November 3:

Hotel:  Westin William Penn Hotel
 (412)281-7100

Conf.: Kristin - 401220
 Vince - 401221

Any questions, call me.

Alyse


Thanks!  We are looking forward to it in a big way--mostly because its still
winter up in the big O!  df

From: Kimberly Watson/ENRON@enronXgate on 03/08/2001 07:54 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: FW: Organization Announcement

Drew,

Congratulations!  I can think of no better person for the job!  I look
forward to seeing you in the hallways of the Enron Building!  I hope you and
your family will love living in Houston as John and I do.  See you soon, Kim.

 -----Original Message-----
From:  ETS General Announcement/ET&S/Enron@ENRON
[mailto:IMCEANOTES-ETS+20General+20Announcement_ET+26S_Enron+40ENRON@ENRON.com
]  On Behalf Of Stan Horton, Chairman & CEO@ENRON
Sent: Wednesday, March 07, 2001 10:58 PM
To: Enron Transportation Services Operations@ENRON
Subject: Organization Announcement

Michael Moran, currently Managing Director and General Counsel for ETS, has
decided to retire after a distinguished 27-year career with Enron.   Mike has
been a conscience and a statesman of our organization and it is hard for me
to imagine the ETS organization without Mike.

Fortunately, Drew Fossum, currently Vice President and General Counsel for
Northern Natural Gas and Transwestern, has accepted my offer to become Vice
President and General Counsel of ETS effective April 1, 2001.  Drew will
relocate to Houston and report to me in his new role.

To assist with transition issues and special projects, Mike has agreed to
stay on board for several months as Managing Director and Special Counsel to
the Chairman and will continue to report to me.

Please join me in congratulating Drew on his new assignment and thanking Mike
for his many contributions to ETS and Enron.


Kay,

I took a whack at redlining for CO#1 Fountain Valley Agreement.  You'll need
to do some touch-ups, I believe.

Let me know what other changes will be necessary.

Thanks,

Lee

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, December 11, 2000 3:37 PM
To: michael.storm@ss.ps.ge.com
Cc: Ed.Dannhaus@enron.com; mtezyk@enron.com; lee.johnson@ss.ps.ge.com;
Ben.Jacoby@enron.com; Alan.Larsen@enron.com; Lisa.Bills@enron.com;
Roseann.Engeldorf@enron.com
Subject: Re: CO#6 for Fountain Valley

Gentlemen,

Since we are moving the equipment from WestLB and into TurboPark, and since
we are just about there with the breakout contracts, we need to process
this as change order #1 to the Fountain Valley contract.  I also believe we
need the site specific stuff for this project.

Kay

michael.storm@ss.ps.ge.com on 12/11/2000 03:17:27 PM

To:   Kay.Mann@enron.com, Ed.Dannhaus@enron.com, mtezyk@enron.com
cc:   lee.johnson@ss.ps.ge.com

Subject:  CO#6 for Fountain Valley

All,

Attachment contains latest revision reflecting order for two additional
stacks, six power stabilizers and moving cost for the Fountain Valley
Project.  Please review and let me know if additional changes are required
or recommended.

 <<changeorder#6rev2.doc>>
Please note new contact information below:

Mike Storm

          g              GE Aero Energy Products
          ___________________________________
                    A GE Power Systems Business
          Michael E. Storm
          Projects
          Phone: (281) 864-2601  Dial Com 8*326-2601
          Fax:  (281) 864-2116, Pager 888 487 5741

(See attached file: changeorder#6rev2.doc)

 - PSCO_changeorder#1_121100.doc


Christian:
I sent out the Schedules to Jeff Brown by e-mail and faxed him and Laird the
preprinted ISDA and CSA.  Ed Sacks seems to think that they are a German
company.  I have asked then for more information.  Laird is hot to get this
"signed up" on Monday.  I am out on Monday but if necessary, Sara or Mary
Cook can help you.  Marie Heard is the legal assistant.  I will be checking
my voice mail messages but will be out of pocket from Noon-5 on Monday.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


marogers@fuse.net has sent you an Egreetings.com(r) flash animation!

To view your card, simply click the following Web address
any time over the next three weeks:

http://www.egreetings.com/v/fhr8fX2SqZ

Need some help?  See below!
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link.  No problem!  You can copy and paste the Web address into your Web
browser.

Here are instructions on how to copy and paste:
a. With your mouse, highlight the *entire* Web address above
b. Select the EDIT menu and choose COPY
c. Go to your Web browser and *click inside* the window where
you normally type a Web address to visit
d. Select the EDIT menu and choose PASTE
e. Now hit ENTER on your keyboard to take you to the Web address

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If you would like further assistance, we're happy to help - please send
E-mail to solutions@egreetings.com

----------------
E-greetings is a registered trademark and Egreetings is a trademark of
Egreetings Network, Inc.


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Please see below.  Can you help them with their on-line questions?

Thx

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

----- Forwarded by Debra Perlingiere/HOU/ECT on 03/27/2001 11:39 AM -----

	"McGilloway, Vangie" <Vangie.McGilloway@powersrc.com>
	03/23/2001 10:13 AM

		 To: "'Debra.Perlingiere@enron.com'" <Debra.Perlingiere@enron.com>
		 cc:
		 Subject: RE: Agreements

Good Morning Debra - I have attached a revised copy of the GISB Agreement
and Special Provisions for your review and consideration.   I anticipate
completing the review of the Master Agreement form and submitting comments
to you by Monday.

In addition, I received feedback from our Gas Desk that the access to the
Gas segment of Enron On-Line was cut off to CPS --- do you know who would
handle this at Enron that we can speak to?  Greatly appreciate your prompt
feedback to this inquiry.

I look forward to your feedback on the GISB.

Regards,
Vangie McGilloway
Constellation Power Source, Inc. ("CPS")
111 Market Place
Ste 500
Baltimore,MD 21202

Phone 410-468-3798
Fax 410-468-3499
Email vangie.mcgilloway@powersrc.com

PS- Were you having  phone system problems this morning?   Myself and Credit
were calling in and none of the calls rolled into voice mail (?).

-----Original Message-----
From: Debra.Perlingiere@enron.com [mailto:Debra.Perlingiere@enron.com]
Sent: Thursday, March 01, 2001 4:30 PM
To: vangie.mcgilloway@powersrc.com
Subject: Agreements

Further to our conversation,  please see attached  sample agreements.
Upon your review, please give me a call to discuss any questionsand or
issues you may have regarding this matter.

(See attached file: Constellation Power (GISB draft).doc)(See attached
file: Sam3102.doc)

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

 - ENRON-CPS (GISB rev1).doc


did you win your car?


Opps.  Wrong worksheet

---------------------- Forwarded by Chris Germany/HOU/ECT on 03/07/2000 05:11
PM ---------------------------

Chris Germany
03/07/2000 05:11 PM
To: Jeff W Westover/HOU/ECT@ECT, Sandra Dial/HOU/ECT@ECT
cc:
Subject: CES detail for Jan

This is what I have.  Good luck.


RBowers@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List:

The NYISO requires additional time to reconcile settlement balances for the
January 2000 2nd settlement adjustment.  As a result, issuances of invoices
for the January 2000 2nd settlement adjustment are being delayed.  It is
anticipated that invoices for the January 2000 2nd settlement adjustment
will be posted by 23:00, Monday, October 15, 2001.  The NYISO apologizes
for any inconveniences caused by this delay.

Regards,
Randy A. Bowers
Manager - Customer Settlements


----- Forwarded by Mark Taylor/HOU/ECT on 05/18/2000 06:14 PM -----

	Ryan.Donovan@ubsw.com
	05/18/2000 05:57 PM

		 To: atiller@enron.com, chudyj@winstim.com, clint.freeland@enron.com,
darren.delage@enron.com, delaneyj@winstim.com, ecklandt@winstim.com,
gareth.bahlmann@enron.com, jason.sweet@ubsw.com, jeff.nogid@enron.com,
jennifer.gabrielson@ubsw.com, jim.hunt@ubsw.com, john.magovern@ubsw.com,
johnna.young@enron.com, kimberly.blue@ubsw.com,
kimberly.r.scardino@arthurandersen.com, kurzw@winstim.com,
lyndon.taylor@ubsw.com, mark.taylor@enron.com, michael.davidson@ubsw.com,
michael.hynes@ubsw.com, mshiang@bankofny.com, mspradling@velaw.com,
mukunah@winstim.com, paige.grumul@enron.com, rastin@velaw.com,
ryan.donovan@ubsw.com, ryan.siurek@enron.com, scott.giese@ubsw.com,
scott.whitney@ubsw.com, stewart.morel@ubsw.com, timothy.steele@ubsw.com,
tom.field@ubsw.com, tom.mcerlean@ubsw.com, william.sullivan@ubsw.com
		 cc:
		 Subject: Enron Working Group List

     Please find attached the Enron working group list.

     The initial distribution of the documentation will occur tomorrow

 - wgl.doc

This message contains confidential information and is intended only
for the individual named.  If you are not the named addressee you
should not disseminate, distribute or copy this e-mail.  Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.

E-mail transmission cannot be guaranteed to be secure or error-free
as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses.  The sender therefore
does not accept liability for any errors or omissions in the contents
of this message which arise as a result of e-mail transmission.  If
verification is required please request a hard-copy version.  This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments.


Kim,
 The gas portion of the RFP does not appear to be of concern assuming we are
willing to handle the swing in their requirements.  The RFP does require that
we attach our contract form, which I think should be the contract draft we
are currently negotiating together with a completed form of Transaction
Agreement for the RFP response.  Do you agree?  I am still waiting for a
response from the City Attorney regarding his requested changes and our
response as to each of his points.  I called Christian Yoder for a download
of his conversation with the City Attorney last Friday but I have yet to hear
from Christian.  At this point I think that we need to include language in
the RFP response that our bid is based on them executing the contract as
attached.

	Kim Ward
	03/13/2001 05:54 PM

		 To: Dan Hyvl
		 cc: Barry Tycholiz/NA/Enron@ENRON
		 Subject: PALO ALTO

DAN,

DID YOU SEE ANYTHING IN THE PALO ALTO RFP THAT SHOULD HAVE BEEN OF CONCERN IN
SUBMITTING A RESPONSE?  I WILL BE SUBMITTING MY PROPOSAL TOMARROW EVENING.

THANKS,

KIM


I would like to take the following time off:

Wednesday, May 31 - I need to leave at 3:00

My new house closing is on Monday June 5 at Partner's Title in the old Texas
Commerce Bank Bldg.- they haven't set the time yet
I will be taking two days off in June to move into my new house - June 12 & 13

My old house sale closes on Monday, June 19 - also at Partner's Title - they
haven't set the time yet

Let me know if there are any problems...


Please find attached Credit's EOL responses for 12/9.

Regards
Molly


In general I have a good understanding of how government works.  This I do
not understand at all.  Unless it has to do with the CDWR setting rates now?
Otherwise, how can the governor enter into a rate settlement?  Do other
parties get a chance to comment on it?  Did this just totally moot our lovely
trip to San Diego?  This is all very wierd.

	Harry Kingerski
	06/19/01 08:45 AM

		 To: Leslie Lawner/NA/Enron@Enron
		 cc:
		 Subject: SEMPRA ENERGY DEAL ANNOUNCED....  FINALLY!

ok, so what does this mean for our case - I guess we have to wait and see the
details
----- Forwarded by Harry Kingerski/NA/Enron on 06/19/2001 08:44 AM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	06/18/2001 05:18 PM

		 To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Craig H Sutter/HOU/EES@EES, Dan
Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES, Dennis Benevides/HOU/EES@EES,
Don Black/HOU/EES@EES, Dorothy Youngblood/HOU/ECT@ECT, Douglas
Huth/HOU/EES@EES, Edward Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES,
Erika Dupre/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES,
Gayle W Muench/HOU/EES@EES, Ginger Dernehl/NA/Enron@ENRON, Gordon
Savage/HOU/EES@EES, Harold G Buchanan/HOU/EES@EES, Harry
Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES, James D
Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James Wright/Western
Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES, Jeremy
Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON,
Karen Denne/Corp/Enron@ENRON, Kathy Bass/HOU/EES@EES, Kathy
Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin Hughes/HOU/EES@EES,
Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES, Mark S
Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, mpalmer@enron.com, Neil
Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Paula
Warren/HOU/EES@EES, Richard L Zdunkewicz/HOU/EES@EES, Richard
Leibert/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Rita
Hennessy/NA/Enron@ENRON, Roger Yang/SFO/EES@EES, Rosalinda
Tijerina/HOU/EES@EES, Sandra McCubbin/NA/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Scott Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES,
Sharon Dick/HOU/EES@EES, skean@enron.com, Tanya Leslie/HOU/EES@EES, Tasha
Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim
Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S
Bradford/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON, Jubran
Whalan/HOU/EES@EES, triley@enron.com, Richard B Sanders/HOU/ECT@ECT, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Greg Wolfe/HOU/ECT@ECT, James
Wright/Western Region/The Bentley Company@Exchange, Dirk vanUlden/Western
Region/The Bentley Company@Exchange, Steve Walker/SFO/EES@EES, Jennifer
Rudolph/HOU/EES@EES, Martin Wenzel/SFO/HOU/EES@EES, Douglas
Condon/SFO/EES@EES, wgang@enron.com, Scott Govenar <sgovenar@govadv.com>,
Hedy Govenar <hgovenar@govadv.com> @ ENRON, jklauber@llgm.com, Mike D
Smith/HOU/EES@EES, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janel
Guerrero/Corp/Enron@Enron, Eric Letke/DUB/EES@EES, Richard B
Sanders/HOU/ECT@ECT, gfergus@brobeck.com, Michael Tribolet/ENRON@enronXgate,
Robert Frank/NA/Enron@Enron, Richard B Sanders/HOU/ECT@ECT,
gfergus@brobeck.com, Susan J Mara/NA/Enron@ENRON, Chris Holmes/HOU/EES@EES,
David Leboe/Enron@EnronXGate
		 cc:
		 Subject: SEMPRA ENERGY DEAL ANNOUNCED....  FINALLY!

----- Forwarded by Jeff Dasovich/NA/Enron on 06/18/2001 05:18 PM -----

	"McMorrow, Thomas" <TMcMorrow@manatt.com>
	06/18/2001 04:58 PM

		 To: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'"
<andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'"
<cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'"
<rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'Dean. Nistetter (E-mail)'"
<Dean.Nistetter@dynegy.com>, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com>,
"'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan Smutny-Jones (E-mail)'"
<smutny@iepa.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>,
"'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Larrea (E-mail)'"
<john.g.larrea@williams.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent
Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Lynn Lednicky
(E-mail)'" <lale@dynegy.com>, "'Marie Moretti (E-mail 2)'"
<mmoretti@mccabeandcompany.net>, "'Marty Wilson (E-mail)'"
<mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'"
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>,
"'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell
(E-mail)'" <stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com>, "'Tom
Williams (E-mail)'" <tcwillia@duke-energy.com>, "'Alex Sugaoka (E-mail)'"
<alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'"
<william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Gates (E-mail)'" <bob.gates@enron.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'David Parquet'" <david.parquet@enron.com>,
"'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Duane Nelsen (E-mail)'"
<dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>,
"'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'"
<eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'"
<frank.derosa@gen.pge.com>, "'Frazier Blaylock (E-mail)'"
<frazier_blaylock@ogden-energy.com>, "'Hap Boyd (E-mail)'"
<Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jim
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'"
<jgreco@caithnessenergy.com>, "'Jonathan Weisgall (E-mail)'"
<jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>,
"'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'"
<khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'"
<kfickett@usgen.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'"
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'"
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'"
<rjhickok@duke-energy.com>, "'Rick S. Koebbe (E-mail)'"
<rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'"
<rllamkin@seiworldwide.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>,
"'William Hall (E-mail)'" <wfhall2@duke-energy.com>,
"'trusso@mcnallytemple.com'" <trusso@mcnallytemple.com>,
"'sadlersa@earthlink.net'" <sadlersa@earthlink.net>, "'mstultz@epsa.org'"
<mstultz@epsa.org>, "'rtemple@mcnallytemple.com'"
<rtemple@mcnallytemple.com>, "'tracy.fairchild@edelman.com'"
<tracy.fairchild@edelman.com>, "'megan.beiser@edelman.com'"
<megan.beiser@edelman.com>, "'deborah.fiorito@dynegy.com'"
<deborah.fiorito@dynegy.com>, "'lchurch@epsa.org'" <lchurch@epsa.org>,
"'Katie Kaplan'" <kaplan@iepa.com>, "'tcwillia@duke-energy.com'"
<tcwillia@duke-energy.com>, "'rwhyde@duke-energy.com'"
<rwhyde@duke-energy.com>, "'Suzy.L.Rodriguez@dynegy.com'"
<Suzy.L.Rodriguez@dynegy.com>, "'ppitts@wiredworld1.com'"
<ppitts@wiredworld1.com>, "'mnobili@cal-lobby.com'" <mnobili@cal-lobby.com>,
"'sscsus@aol.com'" <sscsus@aol.com>, "'kvellandi@pstrategies.com'"
<kvellandi@pstrategies.com>, "'Jean Munoz'" <jmunoz@mcnallytemple.com>
		 cc: Energy Practice Group <EnergyPracticeGroup@manatt.com>
		 Subject: SEMPRA ENERGY DEAL ANNOUNCED....  FINALLY!

OFFICE OF THE GOVERNOR
PR01:295
FOR IMMEDIATE RELEASE
06/18/2001
GOVERNOR DAVIS ANNOUNCES AGREEMENT WITH SDG&E, SEMPRA ENERGY
$400-$12,000 Per Customer Balloon Payment Eliminated, No Additional Rate
Increases Required to Pay Off Undercollection
SACRAMENTO
Governor Gray Davis today announced an agreement with San Diego Gas &
Electric and the utility's parent company, Sempra Energy, that will erase a
$747 million balloon payment facing the utility's three million customers.
"The balloon is burst," Governor Davis said. "Under this agreement, the
undercollection is eliminated, without any increase in rates. This is a
massive benefit to the San Diegans, the first Californians to bear the brunt
of our state's energy crisis last summer."
The Memorandum of Understanding (MOU), signed by the Department of Water
Resources for Gov. Davis with Sempra Energy and SDG&E executives while a
group of San Diego ratepayers, and State Senators Steve Peace (D-El Cajon)
and Dede Alpert (D-Coronado) looked on, includes a number of provisions to
eliminate the undercollection that could have cost each customer
approximately $750 (as much as $400 for each residential customer, $1,400
for each small-commercial customer and $12,000 for each medium-sized
commercial customer).
In addition, it would settle several regulatory cases before the California
Public Utilities Commission (PUC), gives the State the opportunity to
purchase 15,780 acres of environmentally-sensitive lands owned by the
company along the Colorado River, and provides below-market power to the
State through December 2010 from the San Onofre nuclear power plant. The
regulatory provisions are subject to PUC approval.
It also calls for the purchase of SDG&E's transmission lines for
approximately $1 billion, or 2.3 times book value. However, the deal is not
contingent on that purchase of SDG&E's transmission network, which includes
170 electric lines exceeding 69 kilovolts in capacity and spans
approximately 1,800 circuit miles from southern Orange County to the Mexican
border. The system also includes about 135 electric substations and
transmission interties with Southern California Edison's system at the San
Onofre Nuclear Generating Station.
"Throughout these long and complex negotiations, Governor Davis and we have
had the mutual objective of reducing the financial impact of California's
crisis on SDG&E's customers and helping the State gain more control over its
energy destiny," said Stephen L. Baum, chairman, president and chief
executive officer of Sempra Energy. "Today's agreement represents a winning
proposition for our customers, the State and our company: it reduces the
future financial burden on our customers, protects the State's economic
future, and creates a clear path for future growth and profitability for our
company. Going forward, we are committed to working with Governor Davis and
the State to implement his recovery plan."
The MOU signed today is the second with California's investor-owned
utilities. An agreement with Southern California Edison is pending approval
before the State Legislature. Unlike the Edison agreement, however, the MOU
with Sempra Energy does not need legislative approval (except for the
acquisition of transmission lines).
"This is an example of the good that can come when parties are responsible
and remain at the bargaining table," Governor Davis said. "This is a
balanced business transaction that benefits ratepayers and provides a stable
environment for the State's third largest utility."
Governor Davis said the MOU will not result in any additional
electric-base-rate increases for SDG&E customers to recover the $750 million
undercollection. Without the MOU, future balloon payments to recover this
sum could have been as much as $750 per customer.
The regulatory balancing account for SDG&E's undercollected power costs had
grown to approximately $750 million since September 2000, when the State
imposed a retail rate cap of 6.5 cents per kilowatt-hour, retroactive to May
2000. California state law AB 265, signed by Governor Davis last year,
provided for SDG&E's recovery of all its prudently incurred power costs, but
delegated responsibility to the PUC for determining the method and timeline
for recovery.
The agreement includes a complex package of elements to eliminate the
balloon payment, such as the settlement of the reasonableness-review case
SDG&E had with the PUC. To settle that case, the utility has agreed to
forego collecting $100 million of the balancing account.
In addition, the agreement notes that:
SDG&E agrees to give back 90 percent of the profits on two long-term power
contracts earned since the energy crisis flared last June. That means SDG&E
will forego collecting another $219 million in the balancing account. (The
California Department of Water Resources will purchase those contracts as of
June 1.);
SDG&E and its sister utility, SoCalGas, will invest at least $3 billion over
six years into capital improvements. In addition, if the State decides not
buy the transmission lines (and
SDG&E builds the Valley Rainbow line) the utility, backed by Sempra Energy,
will put another $500 million into transmission line improvements, subject
to PUC approval). Excluding the transmission system improvements, this is an
increase of $600 million more than the utilities invested in capital
improvements in the previous five years; and
SDG&E will drop all legal claims against the State.
"We know that many of our customers are extremely concerned about the
potential of large balloon payments looming in the future to address our
past undercollections," said Edwin A. Guiles, group president of Sempra
Energy's regulated business units and chairman of SDG&E. "We are pleased
that today's agreement provides the framework to resolve major regulatory
issues to the benefit of our customers. Many challenges remain, but, this
agreement demonstrates that, by working together, we can surmount these
challenges in a way that benefits all the key stakeholders in California's
energy future."
The MOU also calls for the Department of Water Resources (DWR) to continue
to buy power for SDG&E through the agency until certain conditions are met.
DWR has been purchasing power for SDG&E customers since early February.
SDG&E is a regulated utility operating in San Diego and southern Orange
counties. Sempra Energy (NYSE: SRE), based in San Diego, is a Fortune 500
energy services holding company with annualized 2001 revenues of about $13
billion. Through its eight principal subsidiaries - Southern California Gas
Company, San Diego Gas & Electric, Sempra Energy Solutions, Sempra Energy
Trading, Sempra Energy International, Sempra Energy Resources, Sempra
Communications and Sempra Energy Financial - the Sempra Energy companies'
12,000 employees serve more than nine million customers in the United
States, Europe, Canada, Mexico, South America and Asia.


---------------------- Forwarded by Chris Germany/HOU/ECT on 03/16/2000 11:00
AM ---------------------------

Scott Goodell@ENRON
03/16/2000 10:34 AM
To: Colleen Sullivan/HOU/ECT@ECT
cc: Chris Germany/HOU/ECT@ECT
Subject: Re: SST Storage Injection Contract for Choice - PLEASE READ

Jeff Porter at CES said in a 3/16 email...

 as of 4/1/00, CES' SST capacity on TCO will decrease. We have
 submitted a request to COH for Storage Capacity and Transport (FSS & SST) for
 the 00-01 season. COH should have the actual numbers late Friday, but I have
 made a guesstimate below. You only get 50% of your Oct-Mar WD capacity for
 Apr-Sep Inj, which could be around 50,000 dth/d. The numbers below are from
 3/00, so 4/00 should be smaller, but I will forward to you as soon as I can.

Which means we will not have the volumes until 3/17.  Is it a problem that it
wasn't March 15?
Scott

Colleen Sullivan@ECT
03/08/2000 08:43 AM
To: Joan Veselack/Corp/Enron@ENRON
cc: dkinney@columbiaenergygroup.com@ENRON, Chris Germany/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Katherine L Kelly/HOU/ECT@ECT, Victor
Lamadrid/HOU/ECT@ECT, Joann Collins/Corp/Enron@ENRON, Robert
Allwein/HOU/ECT@ECT, John Hodge/Corp/Enron@ENRON

Subject: Re: SST Storage Injection Contract for Choice - PLEASE READ

The Choice program storage is to be negotiated by CES-Retail.  In fact, our
agreement with CES Retail says that they will give us actual volumes for our
storage schedule by March 15.   Chris, have you called CES to see how they're
coming along with the schedule?  It would be a nice, gentle reminder to call
them a week in advance (which is today), so they can start putting it
together.

Joan Veselack@ENRON
03/07/2000 01:49 PM
To: dkinney@columbiaenergygroup.com, Chris Germany/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON
cc: Katherine L Kelly/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Joann
Collins/Corp/Enron@ENRON, Robert Allwein/HOU/ECT@ECT, John
Hodge/Corp/Enron@ENRON, Colleen Sullivan/HOU/ECT@ECT
Subject: SST Storage Injection Contract for Choice - PLEASE READ

To ensure we are all on the same page... how does the renewal of this
contract work for April 1?

If I remember correctly, the injection contract is from April 1st to October
31st. Who negotiates this with the CDC???

John Hodge thought it was Doug Mckinney in Herndon. However, the storage
becomes Enron's on April 1st. So... does Enron negotiate?

Chris, Scott, and Doug... please determine how this will be coordinated.
Don't want this to fall through the cracks.... due to the transition.

Thanks for your help!!!


Sara-

An agency agreement has been contemplated between Tokyo and Houston.  I
believe it would be best to have Susan Musch advise on this issue, as she is
handling the tax aspects relating to these activities and was also involved
in the arrangements between Sydney and Houston.  I have copied Susan on this
correspondence.

As to the netting issue, please confirm my understanding, that the issues
are; (i) that we do not want different Enron entities (i.e. Enron Japan Corp.
and ENA) entering into ISDAs with the same Japanese counterparties; and (ii)
that if Enron Japan Corp. is transacting with a bank, with which ENA has an
ISDA in place, we would amend such existing ISDA to cover the multibranch
situation.

I have not yet had detailed discussions with Mark regarding the issues you
have raised.

Best regards,

John

	Sara Shackleton@ECT
	08/28/2000 10:48 AM

		 To: John Viverito/Corp/Enron@Enron
		 cc: Madhur Dayal/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
		 Subject: Enron Japan agreements (ISDA/futures/brokerage)

John:  I just wanted to stay in the loop for Japan as to Gary Hickerson's
FX/rate/equity counterparties.  My understanding from Gary is that  EGM
(through ENA) will continue to hedge the business originating in Japan,
subject to tax and any regulatory input.  I don't know if this has
necessitated an agency arrangement  between Japan and Houston (or another
office, similar to London or Australia).  Also, for netting reasons, Japan
would not duplicate existing counterparty  ISDA's with ENA, and to the extent
Japan is transacting with a bank having an agreement with ENA, we could amend
the agreement for multibranch purposes if necessary (e.g., Bank of Montreal
if the bank is transacting from multiple locations that need to be added to
ENA's agreement).

Please advise if you have already had these discussions with Mark Taylor.  I
look forward to hearing from you.  Sara


CALENDAR ENTRY:	INVITATION

Description:
	Monica out of office

Date:		2/16/2001
Time:		7:00 AM - 8:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


Based on Stacy's comments yesterday, I have changed the last sentence of
11.1.  Her comment was that the last sentence of 11.1 said events of force
majeure may inclucde and 11.2 said events of force majeure shall include.
Now they both say shall however I have tied it to the preceding sentence of
11.1.


include on the distribution list and send out note about the Monday meeting.
---------------------- Forwarded by Steven J Kean/NA/Enron on 05/13/2001
07:36 PM ---------------------------

"Mollere, Shea" <Shea.Mollere@ElPaso.com> on 05/11/2001 04:27:14 PM
To: "'skean@enron.com'" <skean@enron.com>
cc:

Subject: Message from Clark C. Smith

As per our discussion, let's discuss this further next week.

Clark C. Smith
President
El Paso North America
1001 Louisiana
Houston, TX  77002
713/420-7575
713/420-7591 - FAX
clark.smith@elpaso.com

John Harrison (credit issues)
CFO
El Paso Merchant Energy Group
1001 Louisiana
Houston, TX  77002
713/420-3230
713/420-3942
john.harrison@elpaso.com

Rachael King
Regional Director - Government Affairs - California
El Paso Corporation
980  9th Street, Suite 1550
Sacramento, CA  95814
916/441-0446
916/441-0496
rachael.king@elpaso.com

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