I am not receiving any of the lender comments that were discussed below.
Please keep me informed and include me in any discussions if possible as
well.  Thank you.

The Designated Financial Groundhog

John Novak
12/14/2000 07:00 AM
To: Jose Bestard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Richard A Lammers/SA/Enron, Rob G Gay/NA/Enron, ceb@tfts.tozzini.com.br,
Laine A Powell/ENRON_DEVELOPMENT, Joao Carlos Albuquerque/SA/Enron, James M
Bannantine/ENRON_DEVELOPMENT

Subject: Re: Cuiaba Events 12/13/00

Claudia spoke yesterday with Laterman who, despite having been in the
meetings where it was agreed to move agreed items from the Consent to the
Aditivo, seemed to think that there were new issues being raised.  Claudia
was very firm with him that there was nothing new and that he needed to go
back through an old draft of the Consent to confirm that every item in the
Aditivo used to be in the Consent.  They have an internal meeting scheduled
today and the hope is that Laterman will have done this exercise and can
confirm that there is nothing new (otherwise he will look foolish if we have
to later correct him, which we can do by showing Celso et al an old draft of
the consent).  However, Laterman also confirmed what Adelino appeared to be
saying below:  that they intend to hold up the Aditivo in order to get their
"clarifications" inserted -- i.e., the same old issue regarding sharing the
spot price pain on F/M delay.

Separately, Claudia spoke with Maur?cio and he relayed some innocuous
drafting comments.  He also said, however, that he and Maria Aparecida had
prepared a memo to go to Firmino describing the open "commercial" points
which had never been agreed.  He would not tell Claudia what these points
were and said they were for Firmino to decide and not for the lawyers.
Claudia was very firm in insisting that this memo describe every issue they
think is still open in the documents so we don't end up resolving open items,
as we are close to doing with respect to the big 4, only to find that he and
Maria Aparecida have more comments.   Action item: Jim or Jo?o Carlos -- we
need to hit Firmino on any "new" commercial issues asap -- there should be
none.  He's supposed to have received the memo yesterday so a call today may
be appropriate.

This is beginning to feel like Ground Hog Day all over again!

Rgds,
 John

Jose Bestard@ENRON_DEVELOPMENT
12/14/2000 02:15 AM
To: Richard A Lammers/SA/Enron@Enron, John Novak/SA/Enron@Enron, Rob G
Gay/NA/Enron@Enron, ceb@tfts.tozzini.com.br, Laine A
Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joao Carlos
Albuquerque/SA/Enron@Enron
cc: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Cuiaba Events 12/13/00

Joao Carlos called me to tell me that Celso had agreed to take the three key
issue to the Diretoria, but that there were a number of issues in Aditivio #4
that had not been agreed and required "clarification". He asked me to contact
Adelino Rodrigues. I was concerned that we would be going back to square one
- No release until we agree to clarify their language.  Joao Carlos said "no
negotiations", "just clarifications". I was still concerned, because I was
told that the only new aspect was the Guarantee language for the
privatization event and clause 9, the details/mechanics of the 90 days
payments.

I finally got hold of Adelino around 11:00 am. I asked him if he had received
the Aditivo #4, he said he had it. I asked him if he had any questions, he
said he was reading it.  I pressed him to give me a response today, he said
he was meeting with the Contract Committee (internal) tomorrow at 9:00 AM. I
asked him to get together by noon- he said he needed to report any issues to
the Diretoria. I ask him to meet at 2:00 PM and he agreed.

Adelino wanted to include other Contract Clarifications issues in this
Aditivo #4. I told him that this was not the place. This Aditivo was to
provide a faithful portrait of the results of discussion in regards to the
Lenders issues. It was to mirror the key clauses the Covenant. And it was
created at the direction of Eletrobras to provide a better legal foundation.

I told Adelino that we would be signing other Aditivos in the future  and it
was our intend to clarify the items we included in the Transfer Agreement.

Adelino felt that there were other items not previously agreed in this
Aditivo.

I called Claudia. She told me that she had met with Celso and Adelino and
that this had come up and she had assured them that there was nothing extra
that had not been agreed. She told me that Celso had not agreed. She was to
speak to the Legal department in Furnas to be backed up.

She was walking into a Furnas meeting with Adelino.  I asked her to press
this matter with Adelino and the legal department.

I saw the exchange of the e-mail with the Lenders. They are reacting with one
day delay so I do not know if they are current in their comments. John and
Rick let's have a quick talk early tomorrow. I will call you.

Jose


Kam ok the only easy way to do this is I'm gonna put each one of you on a spreadsheet, Sheet 1 , 2 and 3 and put what you guys are approving then I expect the same spreadsheet back  with who will be alternate and primary approvers. This will be very tediuos cause there are sooo many items out there. So we will definatley need all of you to help with this transistion. I will work on the spreasheet now. Anne Bike no longer has any rights to approve. I gave you all the rights so on spreadsheet you will see her stuff on your sheet.

Thanks,
Erica Garcia

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Monday, November 19, 2001 9:56 AM
To:	Garcia, Erica
Cc:	Love, Phillip M.; Palmer, B. Scott
Subject:	e request approvers

Erica,

I need to make some changes to the list of e-request approvers.

Anne Bike has left the group and I will be taking over all her requests.  Anything related to sitara and TDS for the west desk will now be my responsibility.
Phillip Love should now be the approver for all TDS and sitara requests related to the EAST and VNG regions.
Scott Palmer will be responsible for TDS and sitara for Wellhead, Central and Chicago regions.

Please call me if you have any questions.

Thanks

Kam

x3-5781


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 06/23/2000
10:56 AM ---------------------------

Janet H Wallis
06/23/2000 09:18 AM
To: Earl Tisdale/HOU/ECT@ECT, ami.chokshi@enron.com, Gary A
Hanks/HOU/ECT@ECT, dfarmer@enron.com
cc:
Subject: TXU at Lonestar Katy

Hey, I spoke with Ronnie Skerrik and Charlie Stone this morning and they
agreed that
if Lonestar does not bring the gas back to HPL as nomed that the gas will
continue to be
sold to TXU.   This should elevate any higher vol re-deliveries/Make up to
HPL.

Please call me with any questions,
Janet


----- Forwarded by James D Steffes/NA/Enron on 01/30/2001 02:51 PM -----

	Scott Govenar <sgovenar@govadv.com>
	01/30/2001 09:59 AM

		 To: Jim Steffes <james.d.steffes@enron.com>, "Harry.Kingerski@enron.com"
<Harry.Kingerski@enron.com>, Mike Day <MDay@GMSSR.com>
		 cc:
		 Subject: [Fwd: ABX 1 - Direct Access Amendments]

Here is the document.

Content-Transfer-Encoding: 7bit
X-Mozilla-Status2: 00000000
Message-ID: <3A76E48D.C4E1D97E@govadv.com>
Date: Tue, 30 Jan 2001 07:58:05 -0800
From: Scott Govenar <sgovenar@govadv.com>
Organization: Governmental Advocates, Inc.
X-Mailer: Mozilla 4.5 [en] (Win98; I)
X-Accept-Language: en
MIME-Version: 1.0
To: Jim Steffes <james.d.steffes@enron.com>,  "Harry.Kingerski@enron.com"
<Harry.Kingerski@enron.com>,  Mike Day <MDay@GMSSR.com>
Subject: ABX 1 - Direct Access Amendments
Content-Type: text/plain; charset=us-ascii

Jim and Harry:

This is our proposed amendment to fix the "ban" on direct access.  It
works off of the concept of CMA, which allows the CUC to impose some
conditions or fees, but it clarifies that the CPUC can't hit direct
access customers with costs they didnt cause.  Call Sandi ASAP to
confirm approval.  We need to get this to staff within 30 minutes or it
will be too late.

 Thanks for the fast turn around.   Mike Day

 - amendments to abx1 on direct access.doc


Jeanie,

Who do I have that is outsanding??

From: Jeanie Slone/ENRON@enronXgate on 03/06/2001 04:33 PM
To: Scott Neal/HOU/ECT@ECT, Frank W Vickers/NA/Enron@Enron, Hunter S
Shively/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Laura Luce/Corp/Enron@Enron,
Julie A Gomez/HOU/ECT@ECT, Jean Mrha/NA/Enron@Enron, Stephanie
Miller/Corp/Enron@ENRON
cc:
Subject: Performance Reviews

Please submit all signed performance reviews to me by Friday, March 16th.  If
you are unclear as to which reviews are still outstanding, please send me an
email so that I may provide you with a list.  I appreciate your cooperation
in closing out the year end process.  Thanks.


Mark,

please see attached. Let me know if there's anything further we can do.

Thanks

					Mark

J. Mark Evans
Enron Europe Legal Department
direct tel: 44 207 783 5424
direct fax: 44 207 783 8287
email: mark.evans@enron.com

 -----Original Message-----
From: 	Evans, Mark (London Legal)
Sent:	01 October 2001 22:15
To:	Mumford, Mike
Subject:	RE: Bankruptcy Presentation
Sensitivity:	Confidential

Mike,

thanks for the note. London lawyers already participate in a Houston legal trading forum at which these issues are being dealt with. I will check that there is no other forum on which Mark Haedicke needs our input.

There is also an ongoing effort in the UK, headed by Anna McAndrew and Richard Sage, contributed to on the legal front by Mark Elliott.

									Mark

J. Mark Evans
Enron Europe Legal Department
direct tel: 44 207 783 5424
direct fax: 44 207 783 8287
email: mark.evans@enron.com

 -----Original Message-----
From: 	Mumford, Mike
Sent:	27 September 2001 17:23
To:	Evans, Mark (London Legal)
Subject:	FW: Bankruptcy Presentation
Sensitivity:	Confidential

Mark,

Below are files regarding a presentation to the Management Committee on distressed debt and bankruptcy exposure.  In the middle of last (most recent) email it discusses a legal effort in Houston to better understand rights upon counterparty bankruptcy.

Do we want someone from London to be involved on the legal end?  I would imagine so since laws are quite diverse but I don't know the specific questions being asked.  Is there someone I can put in touch with Michael Tribolet and Mark Haedicke (or their assigns)?

Thanks

Mike Mumford
3-5211

 -----Original Message-----
From: 	Tribolet, Michael
Sent:	Tuesday, September 25, 2001 9:44 PM
To:	Mumford, Mike
Cc:	Hardy, David; Murphy, Ted
Subject:	FW: Bankruptcy Presentation
Importance:	High
Sensitivity:	Confidential

I wanted to follow up to your questions:

   Pasted below is the presentation for the Management Committee.   Rick Buy indicated there were no substantive comments.  The list is updated as new bankruptcies occur (which is almost daily).  I would imagine there will be enhancements to the format, but the one attached is what we are initially rolling out.   We are meeting every two weeks to review the list for missing fields.

I have a meeting tomorrow with Mark Haedicke to try to formalize our legal effort/team.   Currently, we tend to have some of the same originating attorneys involved.  Where we have had problems has been in the determination of termination rights upon bankruptcy.   It would make sense in Houston to have one (or two) Enron Corp attorneys that can quickly and regularly make this determination.

We need to push the data collection responsibility into each business unit.   We would then take their reports and paste it into one company-wide sheet.     While Molly has drafted a cogent process, the implementation at the business unit level has been choppy thus far.   More to come.

Regards,

Michael

Mike,

Can I get a copy of whatever the final distressed workbooks / presentation looked like?  Thanks.

Also, do you have any plans going forward?  When is the next summary (special effort / reconciliation) required?  Do you have any changed formats or requirements since Buy's discussions with management?

Absent any changes you note we will continue to update and institutionalize (regular reporting system) information along the lines of that provided last week.

Mike Mumford
3-5211  (London)

 -----Original Message-----
From: 	Sullo, Sharon E
Sent:	Saturday, September 15, 2001 6:45 PM
To:	Tribolet, Michael; Mellencamp, Lisa; Bradford, William S.; Brackett, Debbie R.; Harris, Molly; Carson, Rick L.
Subject:	Bankruptcy Presentation
Importance:	High
Sensitivity:	Confidential

Attached below, please find a draft of the Bankruptcy Presentation that Rick Buy will present to the Management Committee on Monday morning.  The last page is notes only, and not intended to be distributed to the Management Committee.
 << File: Bankruptcies.ppt >>
Attached below, please find the detail to support the # of bankruptcies by business unit.  The first tab is a "summary page" by Business Unit Classification for the presentation above.  Several counterparties have some relationship with more than one business unit.  I have included each of these only once for the presentation above (as classified on the summary page), but the detail of the business unit relationships is included on the summary page for your information.  If you would like more detail, please go to the second tab titled "Bankruptcies".
 << File: New Distressed CP V3.xls >>

As you know, this information has been consolidated from many sources.  If you have any questions, additions or deletions that need to be made prior to Monday morning's presentation, please call me as soon as possible on Sunday.  My cell # is 713 305 4883.

Thanks,

Sharon


You all should have Mary Hain's original analysis.  Bracewell Patterson has
reviewed her analysis and agrees.  It looks to me like we may have some
procedural firepower here as well.  I have been working the last few days
crafting a response to Dave Germaine's letter.  I have been working with
Ellen Banaghan from Tabors Caramanis and Associates -- I think we are close
to boiling our rather technical explanation into a digestable story.
Depending on how Greg's efforts set up meetings with Sladoje and Germaine, we
should have a strategy call soon.
---------------------- Forwarded by Tim Belden/HOU/ECT on 12/29/99 08:08 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Ronald Carroll" <rcarroll@bracepatt.com>
12/29/99 02:53 PM

To: Tim Belden/HOU/ECT@ECT, jhartso@enron.com, mary.hain@enron.com
cc:
Subject: Comments on Mary Hain's Memo

I've attached our comments on Mary's analysis of the PX's authority re: the
Silver Peak Line investigation.  As you will see, we agree with Mary's
analysis, subject to minor quibbles that do not affect the conclusion, that
EPMI should not be found to have violated the literal terms of the PX's
tariff, that the PX has no sanction authority over this matter, and that
publication of the Compliance Unit's findings would be inappropriate.

We would, however, take a harder line on the proposed compromise.  In our
view, we should insist that the PX never publicly link EPMI to the events of
Mary 24-25.  Thus, we should agree to support a tariff filing by the PX to
clean-up the loophole in its tariff revealed by these events, as long as the
tariff filing does not mention either EPMI or these events as the basis for
the filing.

 - 0118351.01


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fyi.  One of AE's.
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/06/2001 09:19
AM ---------------------------
From: Steven Krimsky/ENRON@enronXgate on 06/06/2001 08:47 AM
To: Ben Jacoby/ENRON@enronXgate, Eric Thode/ENRON@enronXgate, Steven
Rose/ENRON@enronXgate, Dave Kellermeyer/ENRON@enronXgate, Kay
Mann/Corp/Enron@Enron, Raimund Grube/ENRON@enronXgate, Lea
Sooter/ENRON@enronXgate, cabrera@pbworld.com@SMTP@enronXgate,
dsmith@edsaplan.com@SMTP@enronXgate, currog@bellsouth.net@SMTP@enronXgate,
gfhhai@msn.com@SMTP@enronXgate, bernardkinney@aol.com@SMTP@enronXgate,
kabainc@bellsouth.net@SMTP@enronXgate, redelstein@ensr.com@SMTP@enronXgate,
jessica@curtisrogers.com@SMTP@enronXgate,
charlotte@bitner.com@SMTP@enronXgate, sosbourne@ensr.com@SMTP@enronXgate,
amontero@edsaplan.com@SMTP@enronXgate,
walter.bertschinger@mcmtrans.com@SMTP@enronXgate
cc:

Subject: Deerfield Development Review Committee Hearing - June 11th

Please plan to attend the hearing next Monday the 11th at 1:00 pm at
Deerfield Beach City Hall.; Should everything go well, this will be the only
public hearing in Deerfield.
;
We will be getting with each of you regarding presentational material, etc.
;
Also, please plan to attend a pre-meeting at;Keith & Associates Monday at
10:00 am.
;
Regards,
Steve


Tana:  The following people have requested a link;

Donna Lowry
Shemeika Landry
Shelli Smith

Shemeika and Shelli work with Donna in risk analytics.

Thanks.

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


Thanks.

Vince

Stinson Gibner
04/16/2001 04:47 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: recommendation of an outstanding Baylor MBA student for summer
internship

I have talked twice to Althea.  Once last week and once after your email this
morning.  She has told me both times that she would arrange with Shirley to
put Rusty on your schedule and on mine.

--Stinson

Vince J Kaminski
04/16/2001 04:19 PM
To: Stinson Gibner/HOU/ECT@ECT
cc:
Subject: Re: recommendation of an outstanding Baylor MBA student for summer
internship

Stinson,

A reminder.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/16/2001
04:19 PM ---------------------------

Vince J Kaminski
03/31/2001 10:17 AM
To: Jim Garven <James_Garven@baylor.edu> @ ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Stinson
Gibner/HOU/ECT@ECT
Subject: Re: recommendation of an outstanding Baylor MBA student for summer
internship

Jim,

I shall contact Althea and make sure Rusty meets with the Research Group
members.

Vince

Jim Garven <James_Garven@baylor.edu> on 03/28/2001 01:01:42 PM
To: Stinson_Gibner@enron.com
cc: vince_j_kaminski@enron.com
Subject: recommendation of an outstanding Baylor MBA student for summer
internship

Dear Stinson,

I would like to call your attention to Rusty Parks, who is an MBA student
here and has been serving as my research assistant since last fall.? Rusty is
a very outstanding individual with a very impressive work ethic and interest
in topics such as financial engineering and technology, particularly as these
issues pertain to the energy industry.?? In fact, you met Rusty during your
recent visit to Baylor (specifically, last month over dinner at the Gamma
Iota Sigma chartering  ceremony).

I happen to know that Rusty is already scheduled to visit Enron for an
interview for a summer internship on April 19.? He has been invited by Althea
Gordon.? If there is any possibility that you could meet with him during his
visit, I am sure that he would be most grateful.?  Rusty is one of the very
best research assistants I have ever had, and I am sure that Enron would
benefit from having him aboard during the coming summer.

Sincerely,

Jim Garven

P.S.: Please find Rusty's resume attached to this email.

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

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

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


That is great thank you.  I enjoyed you here.  Attached are Vladis files.  Call me when you get a chance so that I can go over them with you.  See you soon.

John

-----Original Message-----
From: Zivic, Robyn
Sent: Friday, November 02, 2001 6:38 AM
To: Griffith, John
Subject: Thank you

John
Your helpand teaching was greatly appreciated. Seeing how the market trades and how the EOL markets are maintained gives insight that is hard to recognise on the other side.
Please let us know if we canhelp withthe daily spreadsheet oerview- ifyou wouldn't mind forwarding on vladis page for richard and I to play with and adapt to what we need- that would be great and I can sendyou ours as we begin development
I hope you wouldn't mind if I call at the end of each day for a market recap and big flow information? Let me know what you think.
I will fedex a cheque for 400 on monday - is that cool?
Thanks again and good luck
Robyn
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Steve,

Do you have part 3 and 4 of this document?  The last page we have has figure 6, but it looks like there was supposed to be further sections.

Mat

 -----Original Message-----
From: 	Swain, Steve
Sent:	Friday, October 12, 2001 10:20 AM
To:	Smith, Matt
Subject:	Load forecasting data document

Hi Matt,

I apologize for not getting back to you sooner.  Here is the document I promised that describes some of the steps I went through to collect and verify data.  I will give you a call to discuss.

 << File: DataDocumentation.doc >>


Hello Vince, Stinson,

Thank you very much for hosting my visit at Enron. I had a
very pleasant time there, and I found the meetings very
informative.

As discussed during my visit at Enron, I am sending you below
a DRAFT of the letter that would be needed to get the program
in place and rolling, and start the students working on it.
It took a while to find out what the appropriate process was
and how the letter should be structured. Sorry for the delay.

If I may, I'd like to visit Enron again, sometime in August,
to define the research agenda more precisely and prioritize
the problems to look at. I'm in frequent contact with Giuseppe,
who is impressed by the environment there. We are trying to formulate
the research issues and problems to study, that would be of interest
to Enron.  The plan is this:

1) By August, Giuseppe will have been there for almost 2 months
and will probably have a relatively good understanding of the Enron problem
space.

2) I will work together with Giuseppe till August to formulate a set of
good problems of:
a) high practical importance
b) high innovation potential
c) serious scope.

3) I could  visit in August (say mid-August or so) to:
a) discuss these problems with you and get your feedback
b) prioritize the problems and evaluate their impact
c) make sure we're on the same page regarding research strategy
and execution path.

I hope we can fully set up the program at Stanford before then, so
that I can bring on board one more Ph.D. student to start his
doctoral work in this area.

I'm all excited about our collaboration. I am even thinking of
starting a research seminar at Stanford, specifically on these
research issues!

Talk to you soon.
Best Regards,

Nick

-----------------------------------------------------------------------
DRAFT of letter to be sent from Enron to Stanford.

Prof. Nicholas Bambos
420 Terman Engineering Center
Management Science & Eng. Dept. and
Electrical Engineering Department
Stanford University
Stanford, CA 94305

Dear Nick,

We are happy to provide gift funds of $100,000 per year, over
three years, to support a program in your research group, related
to Bandwidth Markets/Trading and Networking Technologies.

Enron would like to support research activities in the above
mentioned area, including Pd.D. student work, research seminars etc.
There may also be opportunities to have the supported Ph.D. students
do summer internships at Enron, related to their research interests.

Please find enclosed a check of $100,000 payable to Stanford University
for supporting this research effort in your group during the first year.

Best Regards,

Name and Title


Gentlemen,

I've revised paragraph 5 to reflect our discussion.  Also, I made a change to
paragraph 7 to include technical bulletins per Mitch's request which we did
not discuss on our call.

Please let me know if you have any questions or comments.

Kay

713 345 7566


FYI.  I have legal sign-off on the attached and just need the invoice to cut this baby loose.

RH

 -----Original Message-----
From: 	Mazowita, Mike
Sent:	Tuesday, March 19, 2002 5:39 PM
To:	Hill, Garrick
Cc:	Parks, Joe
Subject:	Letter to TXU

Rick:

See the attached letter and the spreadsheet (created by Joe) for these volumes. I'm going to have Theresa Vos create a PPEP invoice for this amount.

I need additional contact info from Ken and left him a message. Edit or laugh at will.

Maz

 << File: Invoice_Letter.doc >>

 << File: MARGAS-#2.xls >>


Did you guys execute the PSNC contract?? And if so - as CES or CEM??  Also,
I'd like to have the offer number.

I think Transco is done except for PSNC.

Transco Stuff
I set up several Atlanta contracts and 2 storages - all CES
I set up 3 small Boston Gas contracts - all CES.
I set up the S Jersey capacity - CEM.

I think thats it.


Come Join Us Tomorrow, Thursday, 2/1/01 from 4pm - 6pm
"The Building Guy" will be filming two ETV segments show casing the newly
renovated Body Shop.
We'd appreciate your help in populating the Body Shop's fitness area's and
exercise classrooms during these times.   We will be offering (3) two hour
workout in each exercise studios.  Attend one or try all three.  The line up
is as follows:

Cycling Studio: 4pm - 6pm
C.I.A. climbs, jumps, downhills, rollercoasters, and sprints.  A great pre
MS-150 training workout.

Studio B:
4pm -5:45pm: Low Impact Aerobics, Boot Camp
5:45pm-6:30pm: Total Body Conditioning
6:30pm Ab Lab

Studio A: 4pm - 6pm
Pilates Mat: Get stronger and more flexible by doing stretches and controlled
movements that involve every muscle in your body.

Hope you can join us!


Ed - can you help?  I need to know the term of our existing transport expense
deal with Reliant Entex to serve the referenced customer.  We must have an
existing contract that we can look up.  Our existing deal to sell to Mobil
expires October 1.  I am trying to make a two year sales offer beginning
October 1.  If the transport expires before then, then we'll need to call
Entex about a transport rate.  Who is the correct dealmaker to call Entex on
this matter??  I'd be happy to do it, but I'd be stepping on somebody else's
turf.

If the existing rate is indeed 5 cents plus 2.02% fuel, that seems kind of
high.  It's a short haul -  according to our field folk, we give the gas to
Entex at the La Porte City Gate, and it goes to the Mobil plant at Pasadena,
about 10 miles away at the most.

Any and all help appreciated.

Lee

	Enron North America Corp.

	From:  Pat Clynes @ ENRON                           09/06/2000 11:10 AM

To: Robert E Lloyd/HOU/ECT@ECT
cc: Lee L Papayoti/HOU/ECT@ECT, Lauri A Allen/HOU/ECT@ECT, Tom
Acton/Corp/Enron@ENRON, Gary A Hanks/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT,
Janet H Wallis/HOU/ECT@ECT
Subject: Re: Mobil Chemical

Robert,
What company is this transport with?   The rate and fuel sound high for this
very short transport.  Pat

Robert E Lloyd@ECT
09/06/2000 11:05 AM
To: Lee L Papayoti/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON, Lauri A Allen/HOU/ECT@ECT, Tom
Acton/Corp/Enron@ENRON

Subject: Re: Mobil Chemical

I am trying to facilitate this inquiry for Tom Acton who handle this expense
agreement. HPL system indicate a rate as follows:

  Transmission rate:   $0.05
   fuel {expressed in %}:  2.020

Willie Underwood {Marketer/Trader w/Reliant Energy} is prepared to quote you
a more current rate by simply calling him @:
713 207-5127.
I am unable to reach Lee by phone.

	Enron North America Corp.

	From:  Pat Clynes @ ENRON                           09/06/2000 10:44 AM

To: Robert E Lloyd/HOU/ECT@ECT
cc: Lee L Papayoti/HOU/ECT@ECT, Lauri A Allen/HOU/ECT@ECT
Subject: Mobil Chemical

Robert,
Please get with Lee Papayoti as soon as possible in reference to the delivery
to Mobil Chemical #1256.
He is giving them an offer today and he needs to verify all transport cost
associated with the deal.  Thanks


Here are the spreadsheets for the unfinaled invoices prior to May 2000.
Please notify me of any discrepancies.  We will send out unfinaled purchases
next week.

Thanks.


I am sure that you are aware of the move to daily basis from monthly.  The
west desk will be trying to phase out monthly for daily in the next month.
We have created term gd basis vs. the HHub gd through apr-oct 01 for all
index points.

Grigsby


With a typical contractor a tight schedule usually increases the cost. You
might check to see how much a delay in COD to, say Aug 1,  might lower the
cost of construction.  Not to say that it will, but it might.


Dear Mr. Fujita:

Thank you for you interest in Enron. I shall be honored if you visit Enron
and I shall invite other employees of the company to the meeting.

Please, call my assistant, Shirley Crenshaw (713 853 5290) to discuss the
exact time of your visit. She will be trying to reach you from our end.

The copy right for the book belongs to the RISK magazine. I shall give you
the contact at the company
with whom you can discuss the Japanese version issues.

Sincerely,

Vince Kaminski

Masayuki Fujita <mfujita@mri.co.jp> on 03/31/2000 08:36:00 AM
To: vkamins@enron.com
cc: Eugenio Perez <Eugenio.Perez@enron.com>
Subject: A visit

Professor Vincent Kaminski
Vice President of Research
Enron Corp.

Dear Professor Kaminski

    I , Masayuki Fujita was the only Japanese attendee of the Energy
Derivatives seminar
in Houston last December and a member of Japanese consultation firm:
Mitsubishi Research
Institute, Inc. I would be very honored if you can meet with me 17 or 18
April after
attending Energy Trading Summit in 12th-14th. As you know, Japanese
electricity trading is
on the way of deregulation beneficial to the consumers from a long stage of
the nine major
companies' regional monopoly. We are giving a hand to help the Ministry and
industry to
find the right course of them. I and my colleague Yamada, who will attend Risk
Publications Monte Calro seminar in Four Seasons Hotel, would like to visit
you and your
company for studying the sophisticated risk management at Enron. In return,
we may give
you the information about recent institutional progress and major electricity
companies
response in Japan.

    We are now personally translating your book "Managing Energy Price Risk"
second
edition and wondering if you have not given the right to publish in Japanese
and nay give
us the chance to help you introduce modern technology to manage energy risk
in the
Japanese energy industry.

    I do not hope Japanese English power prevent me to pass my sincerity to
you and I can
visit you soon.

    Best regards,

Masayuki Fujita
Principal Financial Engineer
Financial Technologies Section
Mitsubishi Research Institute, Inc.
3-6 Otemachi 2-chome, Chiyoda-ku
Tokyo 100-8141
Japan
Tel +81-3-3277-0582
Fax +81-3-3277-0521


Hear anything on Engram?


To all:

Here are the talking points that need to be addressed during the call with
FCEL that Dave has requested (to establish equal knowledge about the
transaction and status).

Regards,

Heather


Eugene,

Bob and I had a discussion about your question you raised yesterday.

For an option writer, he has the obligation to deliver, so he hedges it with
the underlying by adjesting delta positions.  The hedging cost, theoretically,
should be equal to the fair value of the option premium.

On the other hand, for the option holder, he has no obligation, by delta
heging,
he would pay double for the option, with no upside.  So he should not hedge
it at all.

If the option holder wants to protect the time value of the option, he should
sell
the option to the market or some equivalent options to create a theta-neutral
portfolio.
This may require trading in both the orginal and the equivalent option
underlyings.

Our question to you, if the call options you mentioned are embedded in the
EES
contracts, say fixed price sale contracts, What makes it possible to just
separate those options
and sell them to the market to retain the full values of the options ?  We
conjecture that these
 options are meant to hedge the original contract. By selling those options
you eliminate the upside of the
 original contract.

Give one of us a call if you want to discuss this further.

Zimin


Listened in on the analyst call this morning.  Here are my notes.  Did not yet have a chance to organize them, so they're simply in chronological order.

The call began with Watson, Bergstrom, and Whalley reading from prepared statements.  Watson spoke for c. 10 minutes, Bergstrom for 5, and Whalley spoke for perhaps 30 seconds.  Dynegy management was noticeably in control of the call.  Enron executives spoke when questions were directed to them.

Specific points:
EES will be a part of the new company.
Enron assets will be revalued at closing.
The investment in Northern Natural takes the form of convertible preferred.  If the merger does not go through, Dynegy has the right to acquire Northern for 'very little' additional consideration.  If DYN terminates the merger and ENE 'has sufficient liquidity', ENE has right to repurchase the convertible preferred.
Debt/equity of combined company expected to be <45%.
Both companies will remain on RatingsWatch negative.
ChevronTexaco will hold 169MM shares out of a total 650MM shares of the post-merger entity.
Watson reiterates that going forward, the new entity will be run with a focus on transparent and clear financial structure and disclosure, with a significant reduction in on- and off-balance-sheet leverage.
In what was termed a "new approach", the new entity will be run with a focus on cash flow rather than earnings.
Rumors that Dynegy did the deal because of an unhedged exposure to Enron are not true.  Dynegy owed Enron <$50MM.
Lay says that Enron had other options, 'particularly financial'.
All of the discussion and activity has taken place over the last two weeks.
Lay acknowledges that the number for exposure to securities lawsuits may be 'pretty big', but that the companies feel they're able to appropriately value this exposure.
Lay says we have nothing else to hide, but internal investigation still under way.
Lay:  had the SPEs been capitalized with perhaps $30MM more of risk capital, there would have been no question that they would have qualified for off-balance-sheet treatment and there would have been no need to restate earnings last week to reflect consolidation of the SPEs.
Dynegy says that 'several' internal investigations continue at Enron, and thus DYN/ENE cannot say with certainty that there's absolutely nothing else out there.
Doty (Dynegy CFO) says that late last week, ENE had 'close to a billion' in cash.
Osprey will be unwound late next summer. Marlin will be unwound after closing.
Many of the off-balance-sheet structures, including the credit-linked notes, are expected to be unwound/redeemed or at least significantly reduced prior to closing.
With regard to ENE asset dispositions, these will be accelerated to the extent possible.  However, Doty says that 'our backs are not against the wall', and the company will continue to focus on getting value for its assets as well as cash.
ENE will renew its 364-day facility (believe this is the $3Bn facility that we drew down a couple of weeks ago) within the next 6-8 weeks.
BBB-flat most likely rating for combined entity, according to initial comments from ratings agencies.
McMahon says 'no comment' to WSJ article indicating that ENE's banks are preparing to make an equity infusion into ENE in the next few weeks.
Consolidation of trading activity: Mid- and back-office consolidation will see substantial progress prior to closing, such that only the front office / trading books will need to be combined at closing.  EES, NNG and TW have no real overlap with existing DYN activity, so there won't be much integration work required there.  The big integration effort will be ENA.
Watson says that the 'creative financing' surrounded non-core assets.  Doty adds that, 'frankly', DYN assigned zero economic value to non-core businesses in their valuation model.  They bracketed the maximum expected exposure from the non-core assets/businesses and left it at that.
Watson mentions that DYN would not have gotten involved with Enron had they not been approached by 'Enron's top three executives', who said that they thought a combination with Dynegy made the most strategic sense for both companies.  Says that their approach evidenced a  willingness to work with DYN to integrate the two companies that made a big difference in Dynegy's deliberations on proceeding with the merger.
Watson/Doty said that they're NOT 100% sure that no surprises remain in Enron's books--but that the risk/reward offered by the combination was compelling.
The deal does have material-adverse-change outs for Dynegy, covering any MAC regarding Enron's assets or businesses.  Dynegy's lawyers indicated that the MAC language was a 'blunt instrument' under which it would be difficult to bring a case, so Dynegy inserted a specific paragraph that gives Dynegy the right to terminate the merger if the Enron's total legal liability (from any source or cause of action) tops $3.5Bn prior to closing.
McMahon adds that there 'could' be more restatements, but he 'does not expect' there to be more restatements.
ENE international hard assets definitely on the asset disposition list.
The merger structure calls for a new entity to take over Enron.
Enron is planning to hold an Enron-specific conference call in the next few days, tentatively scheduled for Wednesday.
Initial reaction of ratings agencies 'very positive' to combined entities.
McMahon acknowledges that Enron would have had to have an additional equity infusion prior to year-end, had the merger not materialized.
Dynegy's earnings guidance places Enron-related earnings accretion at $0.90-0.95, which represents a '25% haircut' to Enron internal estimates.  Doty says that this is all operating earnings--figure does not include any amounts from expected synergies.
Doty says that both Enron and Dynegy's books, as far as he understands, are relatively short-term in weight, and this will continue to be the weighting of the new entity.  Says a 'very very substantial' portion of future trading earnings will be expected to be cash.
ChevronTexaco's investment in Dynegy was calculated at a 5% discount to public prices on the date of negotiation (not disclosed).  Given the runup in Dynegy stock last week, ChevronTexaco's investment is now at a 'more substantial' discount to market prices.  ChevronTexaco has provision to get 'different prices at closing if those prices are substantially better'.  (No further clarification given).
Whalley believes that 'we'll retain' the Enron traders and marketers. They're used to being part of a winning team, and the combined entity will definitely be a winner.  They have talked with most of the Enron business leaders, and they are 'very excited' by the combination.  They will be working with the Enron business leaders to ensure talent is retained.  Whalley was asked if there will be any key employee retention provisions.  He says that 'to the extent necessary, yes.'
Watson says that the trading strategy of the combined entity will be a combination of DYN and ENE--there will be more of an asset-backed trading focus, but by the same token the new Dynegy will be involved in much more financial market-making trading than the Dynegy of today.
Watson says that if there were to be any change in culture, he's a strong team player.  He does not want to see an individual do well if the company or division does not do well.

Give me a call if you'd like me to try to clarify any of these comments.

Patrick Tucker
x3-3055


My Holdings page is still not netting.   I just purchased 5000 DYN shares - please make sure the netting works.

Kevin Presto
Vice President, East Power Trading
Phone:  713-853-5035
Cell:  713-854-3923
Fax:  713-646-8272


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Mark Haedicke has four tickets to the Rockets vs. Vancouver Grizzlies game on
Friday, January 26.  These tickets will be given away on a first-come,
first-served basis.  Please reply by e-mail if you would like these tickets.

Thanks.

Janette Elbertson
Enron North America Corp.
Legal Department - EB3326
Telephone:  (713) 853-7906
Fax:  (713) 646-2600
janette.elbertson@enron.com


Congratulations on your promotion to Managing Director!


Please put this on my schedule.

thanks,  fletch
---------------------- Forwarded by Fletcher J Sturm/HOU/ECT on 09/26/2000
06:05 AM ---------------------------

	Reschedule
Chairperson: Richard Burchfield
Sent by: Cindy Cicchetti

Start: 09/28/2000 03:00 PM
End: 09/28/2000 04:00 PM

Description: Gas Physical/Financail Positions - Room 2537

This meeting repeats   starting on    (if the date occurs on a weekend the
meeting ).
Meeting Dates:

Fletcher J Sturm/HOU/ECT
Scott Neal/HOU/ECT
Hunter S Shively/HOU/ECT
Phillip K Allen/HOU/ECT
Allan Severude/HOU/ECT
Scott Mills/HOU/ECT
Russ Severson/HOU/ECT

Detailed description:
   The meeting with Richard Burchfield/HOU/ECT was rescheduled.

On   09/28/2000 03:00:00 PM CDT
For   1 hour
With:   Richard Burchfield/HOU/ECT (Chairperson)
  Fletcher J Sturm/HOU/ECT (Invited)
  Scott Neal/HOU/ECT (Invited)
  Hunter S Shively/HOU/ECT (Invited)
  Phillip K Allen/HOU/ECT (Invited)
  Allan Severude/HOU/ECT (Invited)
  Scott Mills/HOU/ECT (Invited)
  Russ Severson/HOU/ECT (Invited)

Gas Physical/Financail Positions - Room 2537


Is signing a unanimous consent in Houston an issue?  Mark

	Stephen H Douglas/ENRON@enronXgate
	05/01/2001 05:08 PM

		 To: Peter Keohane/CAL/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT
		 cc: Vicki Sharp/HOU/EES@EES
		 Subject: RE: Canadian Retail

Mark Powell's recollection of the reasoning behind having an all-Canadian
officer and director slate is correct and we generally like to isolate all of
the business decision makers of a foreign subsidiary in the country where the
subsidiary is incorporated.  The concern is that having officers and
directors located outside of the country of incorporation of the subsidiary
could provide a basis for a country other than the one where the subsidiary
is incorporated to assert taxing jurisdiction (the PE issue).  That said, I
appreciate the control concern and so long as the authority of the
non-Canadian Director is never exercised outside of Canada (of course, this
presents a proof issue) having a non-Canadian Director is permissible (from a
tax perspective, that is).  Let me know whether such a restriction would be
compatible with the expressed control concern.  Steve. (x30938)

 -----Original Message-----
From:  Keohane, Peter
Sent: Tuesday, May 01, 2001 12:08 PM
To: Haedicke, Mark
Cc: Douglas, Stephen H.; Sharp, Vicki
Subject: Re: Canadian Retail

I don't think there is a bright line, so that should not be a problem per
se.  The idea was to make it as "Canadian" as possible for tax purposes.  I
would of course defer to Steve.

From: Mark E Haedicke on 05/01/2001 11:15 AM CDT
To: Peter Keohane/CAL/ECT@ECT, Stephen H Douglas/Enron@EnronXGate
cc: Vicki Sharp/HOU/EES@EES
Subject: Canadian Retail

Steve and Peter:  From a control point of view, we should have at least one
director based in Houston.  Does that present any significant tax risk?  Let
us know.  Mark Haedicke
----- Forwarded by Mark E Haedicke/HOU/ECT on 05/01/2001 11:11 AM -----

	Mark Powell 05/01/2001 10:24 AM 	   To: David W Delainey/HOU/EES@EES, Rob
Milnthorp/CAL/ECT@ECT, James Derrick/Enron@EnronXGate, Mark E
Haedicke/HOU/ECT@ECT, Vicki Sharp/HOU/EES@EES, Peter Keohane/CAL/ECT@ECT  cc:
Beth Apke/HOU/EES@EES, Morris Richard Clark/Enron@EnronXGate, Andrew
Wu/HOU/EES@EES  Subject: Canadian Retail

A.  Corporate Structure - To facilitate the meshing of EES' existing Canadian
affiliate (Enron Energy Services Canada Co. Ltd. ("EES Canada")) and Enron
Canada Corp.'s mass market retail venture (Enron Direct Limited Partnership
("Enron Direct Canada")), I propose a simple corporate structure as follows:

Enron Direct Canada's business will be set up as a subsidiary of EES Canada.
This will involve:
a. a general conveyance of the assets of Enron Direct Canada to its general
partner, Enron Direct Canada Corp.;
b. the sale of the shares of Enron Direct Canada Corp. from Enron Canada
Corp. to EES Canada; and
c.  a services agreement whereby Enron Canada Corp. provides key services to
Enron Direct Canada.

By setting up Enron Direct Canada as a distinct subsidiary of EES Canada,
both entities will continue to operate as they do today.

As such, (i) Enron Direct Canada will continue to be operated by the staff
currently in place in Calgary, but within the EES corporate structure, and
(ii) EES Canada's existing business will continue to be operated as it is
currently.

B.  Governance - I understand from Peter that a few years back, it was
decided, for corporate law and, more importantly, tax-related "permanent
establishment" issues, that all directors and officers of Enron Canada Corp.
would be Canadian-resident employees of Enron Canada Corp.  Accordingly,
Enron Canada Corp. was re-organized with a nominee board of directors now
consisting of Rob (as the senior Canadian commercial employee) and Peter (as
the senior Canadian legal employee) with officers being the Vice-Presidents
or Managing Directors in Canada responsible for the various commercial or
commercial-support groups.

Following this model, Rob Milnthorp and an employee from the legal department
would appear to be the appropriate directors of the EES' Canadian
subsidiaries.  In the short term, the Iegal employee/designee would be me;
however, the new lawyer hired to work for Enron Direct Canada would assume
the role.

With respect to the officers, no changes are required with respect to Enron
Direct Canada.  With respect to EES Canada, I propose that Rob be appointed
as the Chairman, President and CEO and I be appointed as Secretary for the
interim.

Unless I hear otherwise, I will proceed on the basis of these proposals.

Regards,

Mark Powell


Thank you for joining us at The Houston Technology Forum on Tuesday.  We hope you enjoyed hearing the distinguished panel speak about Technology Trends Affecting Houston's Future.  Copies of Michael Capellas' and Dr. John Mendelsohn's PowerPoint presentations are available on Houston Technology Center's web site.  Visit www.houstontech.org  and click on "Presentation Materials" in the menu on the left-hand side to download copies.  On HTC's web site, you'll also find information about our events, mission & goals, networks and client companies.

If you'd like to become more involved in greater Houston's technology community, we encourage you to attend the HTC Meeting of Technology Champions on Friday, June 8.  You may click the following link to go straight to the registration page for this event: http://www.houstontech.org/calendar/caldetail.asp?ID=135&DATE=6/8/2001 .   Individuals who exhibit their support of HTC's cause to make Houston a better place to start and grow technology companies receive special recognition at our meetings and on our web site.  The attached form describes how you can become a Technology Champion.

Thanks again, and we look forward to seeing you at future HTC events.

Thank you for your interest in the Houston Technology Center

Kathy B. Nethercutt
Houston Technology Center
1200 Smith, Suite 2940
Houston, TX 77002
Ph: 713.658.1750
Fx: 713.658.1744
www.houstontech.org
knethercutt@houstontech.org

 - Championsform.doc


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/19/2000 07:56
AM ---------------------------

Jody Pierce@ECT
12/18/2000 12:31 PM
To: Eric Boyt/Corp/Enron@ENRON
cc: Jeffrey Keenan/HOU/ECT@ECT, Eric
Booth/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Theresa
Vos/Corp/Enron@ENRON, Kay Mann/Corp/Enron@Enron

Subject: Re: City of Austin Agreement and Exhibits

Section 6.7.2
Invoices should be addressed to:

Enron North America
1400 Smith St
Houston, TX 77002
ATTN: Theresa Vos (713-345-8173)

Eric Boyt@ENRON
12/18/2000 11:20 AM
To: Jeffrey Keenan/HOU/ECT@ECT, Eric
Booth/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jody Pierce/HOU/ECT@ECT, Theresa
Vos/Corp/Enron@ENRON
cc: Kay Mann/Corp/Enron@Enron
Subject: City of Austin Agreement and Exhibits

Attached in the latest draft of the GE-ENA breakout contract.  The lawyers
need a few more items to complete before execution.  Please send to Kay Mann
and copy me on responses.

Jeff/Eric - Please take a look at the e-mail below and help out on the
following...
accurate description of facitliy-pg 1
questions regarding the exhibits
Address for Section 25.1 and 25.3

Jody/Theresa - Please provide the appropriate address for Section 6.7.2
(payments)

Let me know if you have any questions and thanks for your assistance!

Regards,

Eric

---------------------- Forwarded by Eric Boyt/Corp/Enron on 12/18/2000 11:16
AM ---------------------------

Kay Mann
12/15/2000 07:55 AM
To: Eric Boyt/Corp/Enron@Enron, stuart.zisman@enron.com, Billy
Lemmons/Corp/Enron@ENRON
cc:

Subject: City of Austin Agreement and Exhibits

---------------------- Forwarded by Kay Mann/Corp/Enron on 12/15/2000 07:55
AM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 12/14/2000 06:35:27 PM
To: "Kay Mann (E-mail)" <kay.mann@enron.com>
cc: "Lee. Johnson (E-mail)" <lee.johnson@ss.ps.ge.com>, "Kent. Shoemaker
(E-mail)" <kent.shoemaker@ae.ge.com>, "Roseann Engeldorf (E-mail)"
<roseann.engeldorf@enron.com>, "Cheryl. Lipshutz (E-mail)"
<Cheryl.Lipshutz@enron.com>, "Brett. R. Wiggs (E-mail)"
<Brett.R.Wiggs@enron.com>, "Ben. Jacoby (E-mail)" <Ben.Jacoby@enron.com>,
"Pipitone, Paul" <paulpipitone@akllp.com>, "Cobb, Chris"
<chriscobb@akllp.com>

Subject: City of Austin Agreement and Exhibits

     Attached please find clean copies of the most recent versions of
the City of Austin Agreement and Exhibits, as well as blacklines showing
changes from the last version circulated.

To complete the agreement, we need to include the following:

1. The description of the facility on page 1.

2. The addresses and contacts for sections 7.7.2, 25.1 and 25.3.

To complete the exhibits, we need to include the following:

1. Exhibits H-2 and R need to be added.

2. Do we need to add language to section B of Exhibit A-1?
 <<Comparison of Exhibits to City of Austin Agt. Form to V. 1.DOC>>
<<Comparison of City of Austin Agreement - Versions 2 to 3.DOC>>  <<City
of Austin Exhibits.DOC>>  <<Gas Turbine Agreement Draft of
12/13/00.DOC>>
 - Comparison of Exhibits to City of Austin Agt. Form to V. 1.DOC
 - Comparison of City of Austin Agreement - Versions 2 to 3.DOC
 - City of Austin Exhibits.DOC
 - 00.DOC


fyi
---------------------- Forwarded by Karen Denne/Corp/Enron on 03/01/2001
12:04 PM ---------------------------

	Enron Energy Services

	From:  Mike D Smith @ EES                           03/01/2001 11:57 AM

To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Peggy
Mahoney/HOU/EES@EES, James D Steffes/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron
cc:

Subject: UC-CSU

Per my voice mail, attached are the notice we received from UC and CSU and
our preposed notice back.  I am sending hard copies of the letters they sent
to SCE.


Louise

Brian Redmond wanted my to copy you on this preliminary draft of a response to AEP.  As noted below I am coordinating updates to the response.  I will also hand deliver to you a hard copy of the two faxed letters that we received from AEP.
										Jim Coffey - x35346

 -----Original Message-----
From: 	Coffey Jr., Jim
Sent:	Thursday, August 16, 2001 5:47 PM
To:	Edison, Andrew
Cc:	Lunz, Lisa; Baumbach, David; Martin, Thomas A.; Schwieger, Jim; Gray, Barbara N.; Koehler, Anne C.; Denetsosie, Troy; Yanowski, Tommy J.; Redmond, Brian
Subject:	Attorney Client Privledge - Important!  Needed comments and actions for response to AEP

Please review the information below from Brian Redmond and respond with comments.  I will be pulling a meeting together for early next week to discuss in order to have a revised draft with as many of your comments as possible ready for Brian when he returns next Wednesday.    Please also note the actions items on each bullet and respond accordingly if your name is noted.  Let me know immediately if you are not the correct person to address the action item and also please respond to any additonal action items that you can.  For your assistance I have also attached below the same info in a Word doc. Thanks in advance for you help.  Please call me ASAP if you have any questions or concern at x35346.

1.	Texas General Land Office: Contract #96059967

A.	AEP Position:
?	An amount of gas valued at $0.409MM (the "Land Office Payment") was received from The General Land Office in exchange for AEP storing gas provided by The Texas General Land Office (the "Land Office Gas").
?	The value was based on a 15% of the gas volumes received from The General Land Office [during the periods beginning Feb 1, 01 and ending May 1, 01 plus the beginning balance] priced at a 1 June 01 IF/HSC price of $3.78.
?	AEP should be paid for the full value for this gas, as AEP is providing the storage services to The General Land Office.

B.	ENE Position:
?	ENE has incurred costs and expenses in transporting and injecting the "Land Office Gas" that should be recovered by ENE.
?	ENE should receive a pro rata share of the Land Office Payment for the portion of time (March through May) that ENE owned HPL and satisfied the storage obligations for the Land Office Gas.
?	ENE calculates the amounts owed to AEP as follows:

(i)  Calculation of Land Office Payment, less
(ii)	Cost to transport and inject Land Office Gas, less
(iii)	Calculation of value of storage services provided by ENE, equals
(iv)	Payment to AEP

?	ENE makes this offer in an attempt to settle this matter, if this is not acceptable, then AEP should seek to claim such amounts should count against the [basket of notional funds] to cover such indemnities set forth in the P&SA

C.	Action Item:
?	Find out how the contract works in terms of payment of the "gas fee"- DAVID BAUMBACH / JIM SCHWEIGER
?	Calculate the amounts due to ENE and net these amounts out of the working gas true-up payment. - DAVID BAUMBACH

2.	Cannon Interests Houston: Contract #96059933

A.	AEP Position:
?	Payments were received from Cannon in the amounts of $400k on March 1, 2000 and $525k on March 1, 2001 for storage services to be rendered by HPL.
?	AEP should receive a portion of this payment based on the period of time that AEP and ENE owned HPL calculated as follows:

(i)  Total payments received from Cannon 925K
(ii)	Portion of contract year that AEP owned HPL = 9/12
(iii)	Amount due to AEP = $693k

B.	ENE Position:
?	Payments received in 2000 were for services rendered in 2000 and should not be taken into consideration.
?	ENE agrees that AEP is due a portion of the 2001 payment from Cannon based on the period of time that AEP and ENE owned HPL calculated as follows:

(iv) Total 2001 payments received from Cannon 525k
(v)	Portion of contract year that AEP owned HPL = 9/12
(vi)	Amount due to AEP = $[    ] - DAVID BAUMBACH

C.	Action Item:
?	Verify payment amounts and start of contract year. - DAVID BAUMBACH

3.	Cannon Storage: Contract #96059167

A.	HPL Position:
?	This agreement should be treated as a fixed price agreement rather than an index based agreement
?	As a fixed price agreement, a fixed for index swap should have been put in place with respect to this agreement.

B.	ENE Position:
?	This is not a fixed price agreement as the contract pricing is already based on index.
?	No hedge will be transferred.

C.	Action Item: - TOM MARTIN /  JIM SCHWEIGER

4.	Centana Storage:

A.	AEP Position:
?	The Centana Gas Storage Contract was assigned from ENA to HPL.
?	The Centana Gas Storage Contract is necessary to conduct the business of HPL on an ongoing basis in the same manner that it was conducted prior to Close.
?	AEP is willing to purchase the gas currently in storage as of August 15, 2001 at a price equal to 90% of HSC/Beaumont for large packages of gas for October.

B.	ENE Position:
?	Contract is an ENA contract and should not have been transferred to HPL
o	Terms were restructured to not match with HPL
o	No provisions for the sale of gas in Centana storage
o	Representations made to FERC
o	Never discussed/agreed commercially
o	Not a scheduled material contract as it was an ENA contract
?	The contract terminated on 1 July - no formal notice was given to Centana to extend the contract.
?	As the Centana Storage Contract was mistakenly assigned to AEP, ENE will agree to sell the gas stored under the contract to AEP at the 1 June IF/HSC price.
?	This amount will be netted out of the working gas true-up payment.

C.	Action Items:
?	Provide Duke with an indemnity and attempt to enter into a new contract with Duke - send letter to this effect. - EDISON/KOEHLER/GRAY
?	Net amount due to Enron out of Working Gas true up payment. - BAUMBACH

2.	Lloyndell/Citgo:

A.	AEP Position:
?	AEP is currently unaware of this issue

B.	ENE Position:
?	ENE discovered that a fixed to index hedge should have been transferred to AEP with the assignment of this contract
?	ENE calculates the value of this hedge to be $[    ] as of 15 August.
?	This hedge should be assigned to AEP and ENE will net this amount out of any monies paid to AEP for the working gas true up payment.

C.	Action Items:

?	Prepare a confirm for the hedge - BAUMBACH

3.	Gas Lift Deposits:

A.	AEP Position:
?	There are $50,450 in customer deposits relating to several gas lift sales which are not accurately accounted for at Closing
?	AEP will require full reimbursement for these amounts

B.	ENE Position:
?	ENE is unaware of any inaccuracies and further discussion is needed before ENE can respond.

C.	Actions:
?	J. Coffey to call AEP accounting to try to understand what AEP is referring to. - COFFEY

4.	Specialty Sands Payment:

A.	AEP Position:
?	The sum of $91,000,000 paid by Specialty Sand to ENE pursuant to a settlement agreement to cover costs of repairs should be reimbursed to HPL since HPL is incurring the costs of such repairs

B.	ENE Position:
?	[If this money was received from Specialty Sands, it should be paid to AEP.   or  AEP should count it against the "basket" of indemnities]

C.	Actions:
?	Legal to make the call on whether we can ask AEP to claim this against the indemnity basket - .  EDISON/KOEHLER/GRAY

5.	ISC/SAP Billing:

A.	AEP Position:
?	Unclear

B.	ENE Position:
?	AEP owes ENE $86k to compensate ENE for work performed in formatting data to meet the requirements of  PeopleSoft.
?	Such amount will be netted out of the inventory true up payment to be made to AEP.

C.	Action Items:
?	Confirm AEP's position on this matter. - TOMMY YANOWSKI
?	Net it out of the inventory true up payment. -JIM COFFEY

6.	Transport Agreements

A.	AEP Position:

?	The following transportation contracts are not necessary to the conduct of HPL's business or, if they are, suitable alternatives exist.  HPL is willing to assign these contracts back to ENE:

o	EPGT Texas Pipeline, L.P.	96006479
o	EPGT Texas Pipeline, L.P.	96041930
o	Gas Transmission TECO, Inc.	96041723
o	Gas Transmission TECO, Inc.	96041724

B.	ENE Position:

?	Agreed

C.	Action Item:

?	Prepare documentation for the re-assignment of these transport contracts - BARBARA GRAY

7.	IT Services:

A.	AEP Position:
?	In exchange for AEP purchasing ENE's gas in the Centana storage field at 90% of the HSC index for October, AEP requests that ENE:
o	Reduce the fee payable by HPL to $100,000 during the second and third six month periods of the term of the IT Services Agreement
o	Provide for further fee reductions as Applications and Services are no longer required by AEP

B.	ENE Position:
?	AEP offer to purchase ENE gas in Centana is unacceptable and ENE sees no benefit to ENE for reducing the pricing provisions under the IT Service Agreement.

C.	Action Items:
?	Discuss with Networks - COFFEY / YANOWSKI
?	Ensure we have internal agreement on PGAS, ROW database, and Gregg modeling. - YANOWSKI

8.	Other Payment Amounts

A.	AEP Position:
?	Unclear

B.	ENE Position:
?	AEP owes ENE $1.2 for overstated MidTex cash payment
?	Southern Union Promotional Fund?

C.	Action Items:
?	Jim Coffey to develop ENE position on these matters - COFFEY

12.	Working Gas Inventory True Up

	A.	AEP Position:
?	AEP has submitted an invoice to ENE for payment

B.	ENE Position:
?	The amount due in the invoice submitted by AEP must be adjusted for the following:
o	ENE portion of Texas Land Office Fee
o	Value of gas sold to AEP in Centana Storage
o	Value of Hedge in Llyondell Citgo Contract
o	Value of SAP/ISC Payment
o	Value of Other Payment Amounts due to ENE: Mid Tex, Southern Union promo fund, etc.

C.	Action Items
?	Jim Coffey to coordinate preparation of response to AEP invoice. - COFFEY

9.	Calpine Guarantee:

A.	AEP Position:
?	Unclear

B.	ENE Position:
?	AEP needs to replace ENE guarantee or AEP should indemnify ENE for any liabilities to Calpine.

C.	Action Item:
?	Confirm AEP's position on this matter -GRAY/KOEHLER/EDISON
?	Prepare back to back guarantee to send to AEP for Calpine obligations.-GRAY/KOEHLER/EDISON

10.	Guadalupe Contract:

A.	AEP Position:
?	Unclear

B.	ENE Position:
?	AEP and ENE need to execute a back to back agreement.  Enron submitted a form of agreement to AEP, but has not received a response as of yet.

C.	Action Item:
?	Request that AEP send comments back on back to back contract -GRAY/KOEHLER/EDISON
?	What is our plan if they won't comment or execute? -GRAY/KOEHLER/EDISON

 -----Original Message-----
From: 	Redmond, Brian
Sent:	Thursday, August 16, 2001 9:53 AM
To:	Coffey Jr., Jim
Subject:

Jim,

Please find my draft position paper as a basis to prepare a response to AEP.  Please distribute to the team (Martin, Schwieger, Gray, Koehler, Edison, Baumbach, Troy) for comment as well as to Louise K..  Can you also get Louise a copy of the two letters from AEP.   Send my a revised draft once you have everyone's comments.

Regards,
Brian


Aparna:

Below are Tidewater's comments to the omnibus confirmation.  Please let me know what changes are acceptable.

Thanks!

Marie
 -----Original Message-----
From: 	Tiffany Williams
Sent:	Tuesday, June 12, 2001 10:05 PM
To:	Marie Heard
Subject:	Requested Changes

Marie,

Per my phone message, please review requests 1, 3, and 4.  Please let me know if you need additional info or a contact at Tidewater.

Thanks,

Tiffany
---------------------- Forwarded by Tiffany Williams/NA/Enron on 06/12/2001 05:03 PM ---------------------------
From:	Erik Deadwyler/ENRON@enronXgate on 06/12/2001 08:59 AM
To:	Tiffany Williams/NA/Enron@Enron
cc:

Subject:	Requested Changes

Tidewater Fibre has requested some changes on the contract.  They are as follows:

1) Under Terms and Conditions, want to provide financial statements annually vs. monthly.

2) Alternative Floating Price Structure:  We have included RISI as the back-up index should the OBM become discontinued.  Because their is a basis difference between RISI and OBM, we need to adjust the alternative floating price as RISI - $18.  RISI - $18 would replace DLK East - $10.  Thus there is an $8 difference between the two indices.

3) Under Annex B1, the would like for it to read "either party (ENA or Tidewater Fibre) faces default situation" instead of Tidwater Fibre Corporation

4) Under the collateral provision, instead of counterparty they would like "Tidewater Fibre and ENA"

If you would like to speak directly with the counterparty, I can arrange that.

Thanks

Erik


Hey Yvette,

I just made reservations at Ninos.

Thanks,

Eric

Yvette G Connevey@ENRON
01/12/2001 09:04 AM
To: Eric Bass/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Timothy Blanchard/HOU/EES@EES
cc:
Subject: Lunch with Brenda

Any suggestions for today's lunch with Brenda so that I can make reservations
for you guys????

FYI: Brenda has said Anthony's is not an option.

Y


This is an example of the type of things I continue to manage for Citizens.
At this point my role is customer service, making sure their questions and
concerns are being addressed.  I work extensively with Patti Sullivan and
Darla Saucier to keep things on even keel.  I would like to stay involved as
I think that is in the interest of the client and EPMI. but continue to ramp
down.  This has been occurring  as you have already taken over the
transaction side of the deal.  If you want to take over everything that is
fine too, and no offense will be taken, but doing so will take a significant
investment of time on your part to get up to spped on the deal structure and
the nuances of transport on El Paso.

As I discussed they want to get together next week to discuss the "new deal"
and the TW operator transaction.  These deals are somewhat hairy and will be
hard to close, but there is a significant amount of money that we could
make.  I would like to help close that deal.  With respect to the orig
question, my thought is I am very comfortable having you determine how much
orig (if any) you think I deserve after the fact based on the value you think
I added to the transaction if it gets done.  If you want to handle it
yourself and use me as a consultant that is OK too.

Let me know what you think on Monday

C
---------------------- Forwarded by Chris H Foster/HOU/ECT on 03/16/2001
08:30 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  CoganJA@aol.com                           03/16/2001 08:16 AM

To: cfoster@enron.com
cc: sbreen@czn.com
Subject: Citizens Balancing

Chris,

Attached is a copy of the February 2001 month end El Paso allocation
statement. ?I would appreciate you reviewing this statement with particular
attention paid to the imbalances on operator balance ?agreements D217 and
D218 and D219 and D220. ?It appears that gas scheduling may not be properly
matching were gas is being delivered. ?We can discuss at your convenience.

Best regards,

John

John A. Cogan

Johnco Group
3629 Lake Kristin Drive
Gretna, LA 70056
Phone ?(504) 392-7557
Cell ?????(504) 491-2874
Fax ?????(208) 730-4713
 - EP Allocation 2-01.doc


It is in Wisconsin Power and Light service territory....


Caroline:  I'll call you this morning.

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

	Caroline Abramo@ENRON
	03/12/2001 07:55 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: RE: POA

can you call me this AM?  thanks
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 03/12/2001
08:54 AM ---------------------------

Joe_Lardy@cargill.com on 02/28/2001 11:51:16 AM
To: Caroline.Abramo@enron.com
cc:

Subject: RE: POA

What timing, I was just addressing the email to you.  The POA is
attached

-----Original Message-----
From: Caroline.Abramo@enron.com [mailto:Caroline.Abramo@enron.com]
Sent: Wednesday, February 28, 2001 11:47 AM
To: lardy, joe /xtwn
Subject: POA

Joe- whenever you can send.. I'll get my legal going on it...

Thanks and Regards,
Caroline

 - enron.doc


Attendees: Norman Packard, Jim Nusbaum & William Finnoff of the Prediction Co. Enron:  Lavorato, Kaminski & Steve Leppard


Due to heavy rains and water damage on level B-2, Studio B and the Cycling
Studio have been closed for the rest of the week.  The following
modifications have been made for Thursday and Friday Group Exercise Class
Schedule.

Thursday, March 29, 2001
The following classes will be temporarily located in Studio A
11:30a.m. - 11:45a.m.  Ab Lab
11:45a.m. - 12:15p.m.  Step Express (Format changed to High/Low Sculpting
Class)
12:15p.m. - 1:00p.m.  NIA
5:45p.m. - 6:30p.m. Total Body Conditioning
6:30p.m.-6:45p.m. Ab Lab
11:45a.m.-12:30p.m. CANCELLED C.I.A.

Friday, March 30, 2001
The following class will be moved to the fitness floor.
6:00 am - 6:45 am  C.I.A. (Format changed to Cardiovascular Workout on
Precor/Fitness Floor)
12:00p.m.-12:45p.m.  CANCELLED C.I.A.

Maintenance is working to resolve the situation. We anticipate being fully
operational on Monday, April 2nd.  However, due to weather inconsistencies we
may experience unanticipated delays.  We will keep you posted as the
situation unfolds.

We appreciate your understanding.
Fitness Center Management


Mike Driscoll is entering a bunch of deals for Swerzbin right now - they'll
be done in just a minute.

Evelyn Metoyer@ENRON
02/13/2001 01:39 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Amerex 2/13 Checkout

I am missing the following deals for Mike Swerzbin per Amerex:

B  American Electric Power  250  MID C  4/1/01- 6/30/01 25  off    23,775
$.0075 fee

S  Merrill Lynch Capital Services, Inc.  175  NP 15  10/1/01- 12/31/01 25
on    30,800    $.0075 fee

B  TransAlta Energy Marketing (U.S.) Inc.  260  MID C  3/1/01- 3/31/01 25
off    7,800     $.0075 fee


All I have to say is, I hope you purchased a box or bushel of the SISSI
chocolates.  That was one of the finest pieces of chocolate I have ever had!
It  was milk chocolate w/raspberry liquor filling.  I am now about to embark
on Mozart !!

Thanks a bunch!!!!

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


Mike, are we closed out on this job with NEPCO as well.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 01/03/2001
10:53 PM ---------------------------
From: Theresa Vos@ENRON on 01/03/2001 10:34 AM
To: David W Delainey/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Ben
Jacoby/HOU/ECT@ECT, Mike J Miller/HOU/ECT@ECT, Georgeanne Hodges/HOU/ECT@ECT,
Jody Pierce/HOU/ECT@ECT, Edie Leschber/HOU/ECT@ECT, Susan Helton/HOU/ECT@ECT,
Russ Porter/Corp/Enron@ENRON
cc:
Subject: Doyle Cost Summary thru 12/28/00

Attached is Doyle's cost summary with actuals thru 12/28/00.  Please call me
if you have any questions.

thanks,
theresa
x58173


BUSINESS HIGHLIGHTS

Enron Global Markets
Enron Global Markets is again teaming up with The Society of the Plastics Industry Inc. trade association to organize its second educational seminar on risk management for the industry. It will be held from 8:30 a.m. to 12 p.m. on Thursday, Nov. 15, at Plastics Encounter in Atlanta, Georgia International Convention Center.

Enron's risk management services provide plastics processors with customized financial products to help them manage their raw material and energy costs.  Risk management products can protect processors from extreme price movements, minimizing earnings volatility and facilitating cash flow predictability.  They also enable processors to increase pricing flexibility for their customers.   Plastics Encounter Atlanta, formerly known as Plastics Fair, is a plastics industry trade show with a strong conference component and unique networking opportunities. EGM will have a booth at Plastics Encounter.

Enron Global Liquids
Enron Global Liquids will begin trading physical polypropylene and polyethylene plastics.  This marks a huge step forward toward bringing a complete portfolio of solutions to this vibrant, cyclical, ubiquitous, 200 billion pound, industry. This is a great example of how EGL can apply the extremely successful Enron model (with physical, price risk management, and financing elements) to its commodity markets.

The company will trade all commodity grades of polypropylene and polyethylene, the products used to manufacture such everyday items as packaging, grocery sacks, car bumpers, gas tanks, berber carpet, shampoo bottles, and bread bags among thousands of other items.

IN THE NEWS
UK: ANALYSIS-LME members survey hard choices ahead.
By Martin Hayes; 10/18/2001 from Reuters English News Service (C) Reuters Limited 2001.
LONDON, Oct 18 (Reuters) - The London Metal Exchange (LME) faces stormy times a year after demutualisation as members ask where their future lies - with electronic screens, on an open-outcry trading floor or even in some other type of business.
The debate is happening as the global metals industry gathers in London for the LME's annual dinner week, which this year will be a subdued affair.
"LME week will struggle to surprise against a backcloth of military action in Afghanistan, dismal economic data, forlorn price sentiment and optimists rarer than hen's teeth," analyst Nick Moore of J.P. Morgan Securities said.
A veteran trader said, "It is going to be a less-populous affair this year. The people that have to do their annual deals will still be there, but we have noticed that people are not traveling unless they have to."
The downturn in the economic cycle has hit the world's largest non-ferrous metals market hard. Years of volume growth have ended, prices have fallen to lows and shrinking revenues and commissions have pared many brokers' profits.
MitsuiBussan has scaled back activities and no longer makes markets, ScotiaMocatta has left the floor and blue-blooded N.M. Rothschild has simply quit the non-ferrous metals business.
LME trading remains dominated by the price discovery mechanism of the open-outcry official rings, but electronic systems have made deep inroads over the past year.
"The trade is rapidly being condensed into the three screen mediums. Enron, Spectron and LME Select," a director at one broker said.

WELCOME
New Hires
EIM   - John Favorite, Michael Foster, Laura Carouthers, Mary Frederick
ENA  - Simon Burgess, Tuoyo Ekperigin, Stephanie Erwin, K.Vy Hopkins, Shirley Huang, Clinton Hurt, Remmy Idaewor

Transfers (to or within)
ENA - Jason Berlin

NUGGETS & NOTES

Congratulations to Kim Hillis-Humlicek, executive assistant in EA and husband, Robert, Sr. Specialist in Net Works. They are the proud parents of a baby girl, Brooke Anne, who was born October 12, 2001. Mom, Dad and baby are doing fine.

Congratulations to Lisa Weavind and Steve Stenhouse, manager with EBS IRU Management, on the birth of a son, Cameron Michael Stenhouse.  He was born on October 10, 2001, weighing 7 lbs. 5 oz.

Enron Industrial Markets has MOVED to Enron Center South, 4th floor and Enron Global Markets has MOVED to ECS, 3rd Floor.  EA is scheduled to move over the next few weeks.

EnronOnline Figures
Below are the latest figures for EnronOnline as of October 16

*	Total Life to Date Transactions > 1,560,000
*	Life to Date Notional Value of Transactions > $ 865 billion

Enron Wholesale Services Best Practice Tips
Ibuyit IT Equipment Ordering - Best Practice
Standard templates are available in iBuyit for ordering common workstations, such as desktops and laptops. All necessary components for each common workstation have been bundled together in these templates.
Timesaving Tip: When using these templates, click on "Select All;" otherwise, only a partial setup will be received.

IBuyit Office Supplies Ordering - Best Practice
Create separate Shopping Carts for office supplies and IT hardware items.  All carts containing IT hardware items are routed to Purchasing for final review before processing; therefore, office supply requests will be delayed if combined with IT hardware.

We are looking for speakers for the Brown Bag Lunch Series.
We would love to hear from every team!  If you have just completed a deal, are working on a special project or are a member of a team that you think would be of interest to the EWS staff at large, then contact Kathie Grabstald at x 3-9610 and we'll get you signed up to share your news with all of us.
Note:  All sessions take place in EB 5C2 from 11:30 AM to 12:30 PM.

LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries.  It is intended for internal use only and should not be disclosed.

<Embedded Paintbrush Picture>


Given the evolution of a number of our businesses, we have decided to make an
organizational change.  The change is in response to a number of factors.
First, as a part of our new initiative in Enron Net Works, it is becoming
clear that we have the opportunity to quickly expand Enron,s underlying
business model to other commodity markets.  Such an expansion requires a
coordinated focus on strategy as we select and develop these opportunities.
Second, the success of EnronOnline and the continued expansion of our
wholesale activities in North America and Europe have increased the
coordination requirements across our North American and European operations.
As a result of these two factors, we are making the following organizational
changes effective immediately:

Cliff Baxter will move from Enron North America to Enron Corp. as Executive
Vice President and Chief Strategy Officer.
Mark Frevert will become Chairman and CEO of North America, replacing Cliff.
In addition, Mark will remain Chairman of Enron Europe.
John Sherriff will become President and CEO of Enron Europe.

We are confident that these changes will increase the effectiveness of our
organization.  Please join us in congratulating Cliff, Mark and John on their
new responsibilities.


That's fine.  We don't keep particularly careful track of these things but
pretty much estimate the percentages on a quarterly basis.

	Francisco Pinto Leite@ENRON_DEVELOPMENT
	01/03/2001 04:13 PM

		 To: Mark Taylor@ECT
		 cc:
		 Subject: My time - Suggestion

Mark:

A suggestion.  I assume that whatever time I spend working for Global Assets,
you will be charging back to the Global Assets group.   To keep things easy,
I will be happy to let you know as often as you need the percentage of my
time spent with the Global Assets group.   If you have other plans please let
me know and I will be happy to do whatever is necessary to keep this simple
and easy.

FPL


______________________________ Forward Header
__________________________________
Subject: 27  things you wish you could say at WORK
Author:  Lettie Favela at frb-branch-2
Date:    11/10/00 5:22 PM

> THE 27 TOP THINGS YOU WISH YOU COULD SAY AT WORK
> 1.   I can see your point, but I still think you're full of shit.
> 2.   I have plenty of talent and vision. I just don't give a fuck.
> 3.   How about "never"? Is "never" good enough for you?
> 4.   It sounds like English, but I can't understand a word you're saying.
> 5.   I see you've set aside this special time to humiliate yourself in
>      public.
> 6.   Ahhh, I see the fuck-up fairy has visited us again.
> 7.   You are validating my inherent mistrust of strangers.
> 8.   Stop, I'm already visualising the duct tape over your
       mouth.
> 9.   The fact that no one understands you doesn't mean you're an artist.
> 10.  Someday, we'll look back on this, laugh nervously and change the
>      subject.
> 11.  I will always cherish the initial misconceptions I had about you.
> 12.  I don't know what your problem is, but I'll bet it's hard to
>      pronounce.
> 13.  Any connection between your reality and mine is purely coincidental.
> 14.  I like you. You remind me of when I was young and stupid.
> 15.  What am I? Flypaper for freaks!?
> 16.  I'm not being rude. You're just insignificant.
> 17.  Thank you. We're all refreshed and challenged by your unique point of
>      view.
> 18.  It's a thankless job, but I've got a lot of Karma to burn off.
> 19.  Yes, I am an agent of Satan, but my duties are largely ceremonial.
> 20.  No, my powers can only be used for good.
> 21.  I'm really easy to get along with once people learn to worship me.
> 22.  You sound reasonable......time to up my medication.
> 23.  I'll try being nicer if you'll try being smarter.
> 24.  I'm out of my mind, but feel free to leave a message.
> 25.  I don't work here. I'm a consultant.
> 26.  Who me? I just wander from room to room.
> 27.  My toys! My toys! I can't do this job without my toys.
       So just leave them alone before you make them want to
       leave as well.

> Useful Expressions for those HIGH STRESS days
> 1.   Well, aren't we just a ray of fucking sunshine?
> 2.   Not the brightest crayon in the box now, are we?
> 3.   Do I look like a fucking people person?
> 4.   This isn't an office. It's Hell with fluorescent lighting.
> 5.   I pretend to work. They pretend to pay me.
> 6.   You!!! Off my planet!!
> 7.   Practice random acts of intelligence & senseless acts of
>      self-control.
> 8.   I like cats too. Let's exchange recipes.
> 9.   Did the aliens forget to remove your anal probe?
> 10.  And your crybaby whiny-assed opinion would be...?
> 11.  How many times do I have to flush before you go away?
> 12.  Aw, did I step on your poor little itty bitty ego?
> 13.  How do I set a laser printer to stun?
> 14.  I'm not tense, just terribly, terribly alert.
> 15.  When I want your opinion, I'll give it to you.
> 16.  Earth is full, please go home.
>
>
>


SK - I printed this & put it & attachments in your meeting folder.  mm

Alan Comnes will fax to your attention the EIA reports on Wyoming.  Susan
Landwehr has faxed to you Gov. Geringer's statement before Congress and other
pertinent materials.  We are searching for a recent presentations by Belden
in Santa Fe.  Attached is a presentation Tim made re:  power supply that is
somewhat out of date--note date of 8/14/00.

Sue Landwehr will also prepare a briefing paper for you on the Gov. including
a summary of the positions he has taken recently at WGA and RGA functions.

Attached is a presentation prepared by Steve Walton on transmission
activities in the West.  While I did not present Steve's slides, I used them
as an ouline for remarks I made at the last WGA meeting on transmission.
Gov. Geringer participated in the meeting and appeared to agree with our
approach for adding transmission in congested areas.

I've also attached a copy of a presentation put together by Jeff Dasovich on
energy needs of the high tech industry.  He prepared these at your request
last fall.

Have a good weekend.


---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 07/19/99 02:49
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Robert J. Madden" <Rmadden@Gibbs-Bruns.com>
07/19/99 02:29 PM

To: Elizabeth Sager/HOU/ECT
cc:
Subject: TVA letter

> Elizabeth:  Here is the draft TVA letter re: adequate assurance of
> performance.  Bob
>
>

 - 1n0b01!.WPD


Can we get this killed or redirected?  This seems very dangerous.
---------------------- Forwarded by J Mark Metts/NA/Enron on 03/21/2000 04:28
AM ---------------------------

"Joor, William E., III" <wjoor@velaw.com> on 03/20/2000 05:39:54 PM
To: "Metts, Mark (Enron)" <mmetts@enron.com>
cc:
Subject: FW: Jim Bannantine on eSpeak - March 23

I'm afraid I have to concur with Boyd.

William E. Joor III
Vinson & Elkins L.L.P.
3600 First City Tower
1001 Fannin
Houston, Texas  77002-6760
Tel:  713-758-2582
Fax:  713-615-5201
wjoor@velaw.com

 +++++++++++++++++++++++
 CONFIDENTIALITY NOTICE
 +++++++++++++++++++++++
 The information in this email may be confidential and/or
privileged. This email is intended to be reviewed by only the individual
or organization named above. If you are not the intended recipient or an
authorized representative of the intended recipient, you are hereby
notified that any review, dissemination or copying of this email and its
attachments, if any, or the information contained herein is prohibited.
If you have received this email in error, please immediately notify the
sender by return email and delete this email from your system. Thank You

-----Original Message-----
From: Carano, Boyd (Enron)
Sent: Monday, March 20, 2000 9:07 AM
To: Joor, William E., III
Subject: Jim Bannantine on eSpeak - March 23

FYI.  I gotta tell you that under the circumstances the timing of this event
just amazes me.

Hope all is well.

Boyd
---------------------- Forwarded by Boyd Carano/ENRON_DEVELOPMENT on
03/20/2000
06:10 PM ---------------------------

Julie Ramos
03/20/2000 06:02 PM

To:   Sao Paulo Brazil - Office Staff, Rio de Janeiro Brazil - Office Staff,
      Buenos Aires Argentina - Office Staff, Salvador Brazil - Office Staff,
      Enron South America - Houston Staff, Santa Cruz Bolivia - Office
Staff,
      Cuiaba Brazil - Office Staff
cc:   Sarah Palmer
Subject:  Jim Bannantine on eSpeak - March 23

(Embedded image moved to file: pic13277.pcx)  The eThink Team

Join Jim Bannantine, on eSpeak, Thursday, March 23 at 11:00 am (Houston);
2:00
pm (Buenos Aires and Sao Paulo ), and 1:00 pm (Cuiaba and Santa Cruz)  to
learn
more about Enron's current South America Strategy.

Jim will be holding an "open-mike" forum so you can ask him questions and
share
your ideas and opinions.

If you prefer you can  pre-submit your questions at eSpeak right now at the
following address ethink.enron.com ! Please keep your questions short and
simple! this will increase the opportunity for your question to be answered.

                                              eThink: Invest Your MInd

Venham conversar com Jim Bannantine no eSpeak, Quinta-feira, dia 23 de
mar?o, .s
11:00 horas (Houston); 14:00 horas (Buenos Aires e S?o Paulo) e 13:00 horas
(Bolivia ) para ficar melhor informado sobre a estrat,gias atual da Enron
Am,rica do Sul.

Jim estar? comandando um "bate-papo on line" e voc poder? fazer perguntas e?partilhar suas id,ias e opini?es.??Voc pode, tamb,m, fazer suas perguntas desde j? acessando o seguinte
endere?o
endere?o ethink.enron.com. Por favor, elabore perguntas curtas e diretas.
Isto
aumentar? a possibilidade de sua pergunta ser respondida.

                                         eThink: Invest Your Mind

 - pic13277.pcx


FYI:  Per Brent Hendry, I am forwarding to you'all the following
comparisons.-Becky

	Becky Spencer@ECT
	03/05/2001 10:10 AM

		 To: Brent Hendry/NA/Enron@ENRON
		 cc:
		 Subject: Re: comparison

See attached comparisons:

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

	Brent Hendry@ENRON
	03/05/2001 09:45 AM

		 To: Becky Spencer/HOU/ECT@ECT
		 cc:
		 Subject: comparison

I need a comparison of these two sets of documents.  I need to know how the
more recent documents changed from the last drafts.  Thanks.


Hi there.
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/23/2001 12:39
PM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           07/27/2000 01:15 PM

To: mscolo@poynerspruill.com, kraber@electricities.org
cc: Heather Kroll/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Jeffrey
Keenan/HOU/ECT@ECT

Subject: Revised option agreement

Gentlemen,

I have made the revisions to paragraphs 16 and 22 as suggested.  I have also
changed the state designation of the Tarheel notary to Texas.

If this version is acceptable, we will execute originals and forward to you.
Do you need more than one original for the optionor?

Thank you,

Kay


Good, I didn't want to ask Ed.  He's very busy.

So which curse word did you use?

	From:  Kathleen Carnahan                           12/13/2000 04:47 PM

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

Subject: Re: CA request

Yes.

Kay Mann
12/13/2000 04:45 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc:

Subject: CA request

Can you get me a draft by Friday am?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/13/2000 04:44
PM ---------------------------

Ray Hoppe
12/13/2000 04:40 PM
To: Kay Mann/Corp/Enron@Enron
cc: Gil Muhl/Corp/Enron@ENRON, Ozzie Pagan/HOU/ECT@ECT

Subject: CA request

Kay, I need another CA drafted for the City of Alexandria LA.  We will be
exchanging information on possibly managing their gas and electric portfolio
for a 5 year term (maybe a little longer or shorter?)  They have two working
generators that we would manage, as well as possibly purchasing economic
power off the market.  They have an additional 33MW's that we would consider
repowering.  Along with that, we would be managing their natural gas needs to
supply the generators and/or selling the gas in the market when their
generation is not needed.

Here is their information:
 Attn: Mr. Gerard Alwell
 Alexandria, City of
 D. G. Hunter Generating Station
 1011 North 3rd Street
 Alexandria LA 71301
 318-473-1291


I checked in Jeff's trade log - he just stepped into a meeting - and 504970
had been crossed out to show 50 MW. But 505118 only has 25 MW. Does this
sound correct? I'm a little confused about what you're asking - should the
deals match at 50 MW on peak? Or is one 25 and one 50?

Kate

Kerri Thompson@ENRON
01/25/2001 02:48 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: apb checkout

the williams deals with apb at 215.00, should total 150 mw.  we are just
missing 25 mw.

   Kate Symes @ ECT                01/25/2001 04:40 PM

To: Kerri Thompson/Corp/Enron@ENRON
cc:

Subject: Re: apb checkout

505118 has been changed to 1/26 -1/27. Still checking on missing deal.

Kerri Thompson@ENRON
01/25/2001 02:12 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb checkout

505118
term should be 26-27

missing deal just like deal 505118

505223 price should be 300.00

misssing 2 deals for bob, will get details.

thanks


I'll pay you Friday night.  I think we're going to dinner together.  Let me
know if you need it earlier.

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Trip

How's everything going?

Next time you get a chance, I need you to send me $200 to cover the deposit I
put down on the fishing trip.

Thanks