Tanya and Sara:
Just an update on the ones that I am handling:

Aquila/Utilicorp will be in place tomorrow
Idacorp should be done this week as i spoke with their counsel today
Pancanadian  - we are waiting for them to decide whether they will accept the
ISDA form of CSA
Reliant - we do have their form and Rod and I are working through credit
issues
El Paso - I am waiting for a revised draft from them but we are close
J Aron - done

	Tanya Rohauer
	06/05/2000 03:25 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Russell Diamond/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Paul
Radous/Corp/Enron@ENRON, Edward Sacks/Corp/Enron@Enron, Brant
Reves/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Taffy Milligan/HOU/ECT@ECT, Kaye
Ellis/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT
		 Subject: Re: Top 20

Sara,

After looking at the list, we are on top of most of it:

aquila risk - we should be assigning all the trades to the new Utilicorp ISDA
and terminating Aquila Risk master
jaron - we have a new ISDA; Jeff probably just isn't reflecting it yet
el paso - Brant is currently negotiating the new ISDA

The following are in negotiation and are Top 10s:
- idacorp
- wps
-pancanadian
-duke energy mktg ltd (i think this one is all but signed)
- mieco
-dynegy canada

I know you have had initial discussions with the counterparties and have
discussed the need to put new documentation in place with:
- morgan
- vitol

Lastly, we were waiting on Reliant to give us an updated draft ISDA; however,
now that Randy Baker has left Reliant, they are not likely to address for
awhile.  Tracy can ask Kelly about trying to get something in place.

The others can probably wait until we get some of the above executed. Dynegy
and Sempra are probably the most important of those left.  Dynegy should not
be too difficult; however, Sempra is a master financial/physical and will be
more problematic.  Let me know if you have any questions.

Thanks,
Tanya

From: Sara Shackleton on 06/02/2000 10:26 AM
To: Tanya Rohauer/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Rod
Nelson/HOU/ECT@ECT, Paul Radous/Corp/Enron@ENRON, Edward
Sacks/Corp/Enron@Enron, Brant Reves/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT,
Carol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Susan
Flynn/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Taffy Milligan/HOU/ECT@ECT, Kaye
Ellis/HOU/ECT@ECT
cc: William S Bradford/HOU/ECT@ECT
Subject: Top 20

FYI - the following list reflects old ECT master and no master counterparties
by volume (not necessarily exposure).  Sara

Tanya:  do you want all of these names on the legal/credit list?
----- Forwarded by Sara Shackleton/HOU/ECT on 06/02/2000 10:08 AM -----

	Jefferson D Sorenson
	06/02/2000 09:27 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Top 20

see if this will help
---------------------- Forwarded by Jefferson D Sorenson/HOU/ECT on
06/02/2000 09:26 AM ---------------------------

	From:  Diane Anderson                           06/01/2000 05:19 PM

To: Jefferson D Sorenson/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT
cc:
Subject: Top 20

Attached please find a spreadsheet of the top 20 counterparties (by number
of deals) with whom we do not have an ISDA Master Agreement, for the
period Jan-May '00.


This is a list of subscription & publication information, compiled by
different regions, regarding developments in energy and broadband.

INDIA
Leena Mathews @ ENRON_DEVELOPMENT                06/13/2000 06:23 AM
We do not specifically subscribe for broadband/commnunications related
magazines. News items related to the above are always covered in the business
magazines below. They are equivalent to the Fortune and Forbes

PUBLICATIONS   SUBSCRIPTION RATE  ONLINE WEBSITE
Business India    us $85
10, Pearl Mansion,
91, Maharashi Karve Road
Bombay - 400 020
Tel # 91 22 200 9274/206 9276
Fax # 91 22 200 6669

Businessworld       www.businessworldindia.com

Business Today       www.Business-today.com

Powerline        www.indiapoweronline.com

Indian Infrastructure   US $ 150 (1 yr)
PowerLine, D-4/5 Vasant   US $ 270 (2 yrs)
Vihar, New Delhi - 57   US $ 350 (3 yrs)
Tel # 91 11 615 2322
Fax # 91 11 615 2344
e-mail: powerlin@del2.vsnl.net.in

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
ASIA & AFRICA
From: John Ambler@ENRON_DEVELOPMENT on 06/07/2000 02:54 PM

We do not currently subscribe to such trade publications for Asia and
Africa.  We do deal with and monitor a number of publications, but many are
not in English.  Two useful online publications are www.nni.nikkei.co.jp and
www.energyasia.com.

As for major magazines, Nikkei Business is the premier business magazine in
Japan.  In most areas there are major newspapers that are more influential.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++++
EUROPE

Iona Maclean@ECT
05/23/2000 03:33 AM
We think that the following are the best publications for you to access (this
can be done on-line)
- FT On-line http://www.business.ft.com/energy_login.html
This site covers all the financial times publications. Enron Europe have a
special deal with FT on-line where everyone can access the service for free.

You can also access the following on-line
- Utility Week and Utility Europe www.utilityweek.com
- The Economist http://www.economist.com/

If you are interested in specific coverage I would be happy to include you in
my distribution lists. Please call me on +44 207 783 5331 if you have any
further questions.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++
LATIN AMERICA

Dennis Vegas@ENRON_DEVELOPMENT
05/09/2000 08:53 AM
International/Regional
Global Finance
Latin Trade
Latin Finance
Newsweek Americas
WSJ Americas
Financial Times (great intl coverage)

Newsletters
Latin America Monitor (online we subscribe for CALME only to Andean Region,
Central America, Caribbean and Middle East editions)
Latin America Power Watch
Latin America Energy

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
JAPAN
From: Michael Grimes@ENRON_DEVELOPMENT on 05/08/2000 08:38 AM
I'm trying to get a subscription to the Nikkei, which has an electronic site
at:

http://www.nni.nikkei.co.jp/

I also have a free subscription to the PMA news site, which has proved
useful. http://www.powermarketers.com/main.htm

I would call the Nikkei the closest to Forbes in Japan.


No over injections allowed for 10/24/01.  They think that by Friday or Saturday the front coming through should open everything back up.

Kelly M. Loocke
Enron North America
713-853-3570
pager:  877-872-7966


Carrie,

I hope you had a great Thanksgiving!

We would like to change the date for the Compaq Experience ENRON request I
submitted online.   Originally the date was 12/13, we would like to
reschedule for 12/14 for one hour in the afternoon.  Jennifer Stewart Medcalf
will give you a call with further details.

Colleen Koenig
Analyst
Enron Corp
Global Strategic Sourcing
713.345.5326


I was tired of the "softball" subject line
ok, its been a while since you have heard from me, mostly because i have been
out of the office and also out of town.  so, without further delay, i need to
get some $money$ from you guys so we can get registered.  here then is the
deal, i need $60 from each of you to cover the fee, game balls, new bats, and
fees for a practice field.  i also need it fairly quickly, so sorry to pass
on my deadlines to you guys, but hey payday is coming up.  you can send me a
check at home which is
chris hartman
4936 SW 60th Place, #2
Portland, OR 97221
or you can call me at home at 503-296-0782 or at work at 503-273-0361 and we
can make arrangements.  i will come by your house if i have to or if you guys
want to meet me downtown for some happy hour we can do that to.  whatever it
takes, and i will go out of my way to accomodate you.  once we are
registered, i will then want to find out what people want to do as far as
practices go.  since last years practices were such a rousing success (the
best one had 6 people show up) i want to get your input so we dont waste time
or money.  and i also want to do some batting cages.  anyways i'm getting
ahead of myself, just show me the money.  and let me know if you have any
questions.
chris


That's fine but I have to leave shortly before 5 tomorrow.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 05/03/2000
12:11 PM ---------------------------
From: Taffy Milligan on 05/03/2000 10:13 AM
To: Carol St Clair/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
cc: Suzanne Adams/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT
Subject: Interview w/Samantha Boyd - SWAP Legal Specialist

Samantha Boyd was available at 4-5 p.m. on Thursday to meet in Carol's office
EB3892.  Please advise if you have a conflict.


Mona -- you can throw this in Wayne's face as well.  I think I'll make sure
it gets around to the ISO Board.
---------------------- Forwarded by Susan J Mara/SFO/EES on 10/11/2000 12:35
PM ---------------------------

"Katie Kaplan" <kaplan@iepa.com> on 10/10/2000 08:40:46 PM
Please respond to <kaplan@iepa.com>
To: "Douglas Kerner" <dkk@eslawfirm.com>, "Hap Boyd" <rboyd@enron.com>, "Bob
Ellery" <bellery@spi-ind.com>, "Tony Wetzel" <twetzel@thermoecotek.com>,
"Duane Nelsen" <dnelsen@gwfpower.com>, "Bill Carlson"
<william_carlson@wastemanagement.com>, "Bob Escalante"
<rescalante@riobravo-gm.com>, "C Williams Thomas" <tcwillia@duke-energy.com>,
"Carolyn A Baker" <cabaker@duke-energy.com>, "Colleen Holm"
<colleen.holm@neg.pge.com>, "Curtis Kebler"
<curtis_l_kebler@reliantenergy.com>, "Dave Parquet" <dparque@ect.enron.com>,
"Dennis Price" <priced@epenergy.com>, "DJ Smith"
<djsmith@smithandkempton.com>, "Ed Tomeo" <ed.tomeo@uaecorp.com>, "Frazier
Baylock" <Frayblay@aol.com>, "Greg Blue" <gtbl@dynegy.com>, "Jack Pigott"
<jackp@calpine.com>, "Jan Smutny-Jones (E-mail)" <smutny@iepa.com>, "Joe
Greco" <joe.greco@uaecorp.com>, "Joe Ronan" <joer@calpine.com>, "John Stout"
<John_H_Stout@reliantenergy.com>, "Jonathan Weisgall" <jweisgall@aol.com>,
"Julee Malinowski-Ball" <jmball@ns.net>, "Julia Wright"
<jwright@smithandkempton.com>, "Karen Edson" <kedson@ns.net>, "Kassandra
Gough" <kassandrag@calpine.com>, "Katherine Potter" <katherinep@calpine.com>,
"Lynn Lednicky" <lale@dynegy.com>, "Mark Smith" <Mark_J_Smith@fpl.com>,
"Marty Wilson" <mwilson@pstrategies.com>, "McNally Ray"
<rmcnally@mcnallytemple.com>, "'Nam Nguyen'" <nam.nguyen@powersrc.com>,
"Norton Kelli" <knorton@mcnallytemple.com>, "Paula Soos"
<paula_soos@ogden-energy.com>, "Roger Pelote" <roger.pelote@williams.com>,
"Ron Tom" <Rtom@govadv.com>, "Ross Tom" <Tross@mcnallytemple.com>, "Russo
Tony" <trusso@mcnallytemple.com>, "Stephanie-Newell"
<stephanie-newell@reliantenergy.com>, "Steve Ponder" <steve_ponder@fpl.com>,
"Steven Kelly" <steven@iepa.com>, "Sue Mara" <smara@enron.com>, "W. Hyde
Richard" <RWHYDE@duke-energy.com>
cc:
Subject: NGI Article

Greetings:
NGI (Natural Gas Intelligence) released a very interesting article yesterday
about how SDG&E is continuing to pass on power deals.  Baum said that they
are not considering any bilateral deals right now and hope to receive
attractive offers.  He also indicated that trading is not something
utilities do well and has rejected the PX block forward markets.  To read
the article in its entirety please go to www.intelligencepress.com and click
on for a trial subscription.  The article is dated October 9, 2000.
Unfortunately due to copyright laws I cannot send the article out.  Please
let me know if you have trouble locating it and I can point you in the right
direction.

Katie Kaplan
Manager of Policy
Independent Energy Producers Association
(916) 448-9499
kaplan@iepa.com


Cindy,

Yes, I shall co-author this paper and I have planted  the idea in John
Martin's head.

Vince

From: Cindy Derecskey@ENRON on 10/25/2000 11:38 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Baylor-Enron Case Study

Vince,

I forgot to inquire whether you would also like to be present during the
interview process with John Martin and Ken, Jeff and Andy?

Let me know....thanks,

Cindy


Please forward this to your groups. Thanks.
---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 12/11/2000
10:38 AM ---------------------------

From: Shona Wilson@ENRON on 12/11/2000 10:35 AM
To: Bob M Hall/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT, Peggy Hedstrom/CAL/ECT@ECT, Kathy Reeves/CAL/ECT@ECT,
Stacey W White/HOU/ECT@ECT, Monica Lande/PDX/ECT@ECT, David
Maxwell/HOU/ECT@ECT, Martha Stevens/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT,
Scott Earnest/HOU/ECT@ECT, Michelle Bruce/HOU/ECT@ECT, Sheila
Glover/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT,
Michael E Moscoso/HOU/ECT@ECT, Kristin Albrecht/Enron Communications@Enron
Communications, Gary Stadler/Enron Communications@Enron Communications,
Meredith M Eggleston/HOU/EES@EES, James New/LON/ECT@ECT, Heidi
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jan-Erland Bekeng/AP/Enron@Enron,
Jay Knoblauh/HOU/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Mike
Jordan/LON/ECT@ECT, Chris Abel/HOU/ECT@ECT, Kenneth
Thibodeaux/NA/Enron@ENRON, Michael Benien/Corp/Enron@ENRON, Burton
McIntyre/HOU/ECT@ECT, Susan D Trevino/HOU/ECT@ECT, Nancy
Hernandez/NA/Enron@ENRON, Debbie R Brackett/HOU/ECT@ECT, John D
Powell/HOU/ECT@ECT, Ganapathy Ramesh/HOU/ECT@ECT, Joel
Henenberg/NA/Enron@Enron, Matt A Brown/HOU/ECT@ECT
Subject: How do officialized books make it to credit?

In the past few months much focus has been put on understanding VAR and how
it is calculated (through RisktRAC).  However, everyone should note that the
credit department also receives our information.  Market risk and credit risk
are inherently different, with different requirements.  This memo serves as a
reminder of what some of the key differences are, how the credit system uses
RisktRAC differently from market risk, how this affects us, what some key
problems are in the credit system caused by our data, and changes to be made
by risk management groups.

differences are between credit and market risk - you all know this, but many
of your ba's don't.
when a book is flat it still has an effect on credit.  Flat books must be
officialized
market risk is keyed off positions and curves.  When we make money, market
risk is reduced.  Credit risk is keyed off positions with customers.  When we
make money, credit risk is increased, as people owe us more money.

how the credit system uses RisktRAC differently from market risk
Market risk picks up all officialized books.  If a book is not officialized
it does not pick the book up.
Credit picks up all officalized books.  If a book is not officialized, it
picks up the previous day's position.  Therefore, if positions in book A are
moved to book B, and A is no longer officialized, credit picks up the
previous day's position for book A.  As a result, if a book is no longer
used, please officialize it the first day it is no longer used, so credit
will pick up 0 on a go forward basis.
Market risk is not concerned with counterparty codes and names.
Credit needs correct counterparty codes and names.  In recent months, the
counterparty information has deteriorated.  Enron official counterparty names
need to be used so they flow properly to credit.

what are some key problems in the credit system caused by our data
As referenced above: correct counterparty names and books with 0 positions
not being officialized so credit picks up previous day info.
As a takeaway from this message please ensure only correct counterparty names
are used and that if a book has 0 positions that it is officialized the first
day it has 0 positions.

If you have specific questions about credit, please call Debbie Brackett, at
X35856.


Many of you have friends who are no longer with the company, so we wanted to provide you an overview of continuing efforts to assist Enron's former employees.

CAREER SERVICES
Last December Enron established a website to assist former employees identify jobs in Houston and throughout the United States.  Only former Enron employees and potential employers can access the site, http://careerservices.enron.com/

On this site, former employees can:
	? Post their resumes for approved employers to view
	? View job postings
	? Receive updates and information on career and community services available to them
As of January 25, 2002:
	? More than 1,300 companies had been approved to view resumes
	? Company recruiters had logged on more than 3,500 times to search for candidates
	? More than 600 jobs had been posted on the site

FINANCIAL ASSISTANCE
The Greater Houston Community Foundation
The Greater Houston Community Foundation (GHCF), in collaboration with the United Way of the Texas Gulf Coast, the Houston Area Urban League, Crisis Intervention of Houston, and Career and Recovery Resources, have established a fund to provide dedicated support for former Enron employees.  GHCF offers former employees counseling services and helps them work with mortgage companies, landlords and utilities to defer monthly bills while they are out of work.   If you are interested in making a tax-deductible donation to the GHCF, please call 713-268-6458 or mail donations to GHCF at 4550 Post Oak Place, Suite 317, Houston, TX  77027.  Checks should be made payable to Greater Houston Community Foundation and designated for the Enron Employee Transition Fund.  To receive assistance, former employees can call 713-533-4598, or outside Houston, 1-800-493-4598.  Lines are open 24 hours a day, seven days a week.

Enron Ex-Employee Relief Fund Account
A former employee has established the Enron Ex-Employee Relief Fund Account at the Humble Community Bank.  Visit the website at <http://www.eerfa.com> for more information or to make a donation.  Former employees can submit grant requests to eerfarequest@surfmk.com.

MDPC Transitional Assistance Program
Memorial Drive Presbyterian Church has created a Transitional Assistance Program open to both members and non-members who need assistance re-entering the workforce.  Right Management Consultants offers a series of two-day workshops for former employees on topics such as Career Assessment and Evaluation, Job Search Communication and Managing in a Time of Change.  Requests for limited and discretionary short-term financial assistance will be accepted from those who have participated in this program.  MDPC will offer a holistic approach to re-entering the workforce including family counseling and stress management. For more information, contact Memorial Drive Presbyterian Church at 713-953-2550, ext 180.


We may be overdrawling our storage MDWQ by 800dth. Hope it goes on a retro.


Jerry:
Here is the ICF confidentiality agreement that Stuart revised.  Hope this is
to your satisfaction.
Please let me know if you have any questions.
Ben


We have been notified by Bloomberg that you are listed as a user of a Bloomberg system that has not been logged into for several
months.  Due to the high monthly cost of maintaining a Bloomberg (approx. $1400 per month), this system will be cancelled/relocated if we do not hear from you.

Please let us know if you would like to have continued access to this system.

Thank you for your assistance, and feel free to contact me with any questions.

Julie Pechersky
Enron Market Data
713 853-9225


I will be there.
PL


----- Forwarded by Jeff Dasovich/NA/Enron on 01/23/2001 11:30 AM -----

>
> -----Original Message-----
> From: Woertz, Byron [mailto:BWoertz@caiso.com]
> Sent: Monday, January 22, 2001 7:30 PM
> To: ISO Market Participants
> Cc: 'rhart@water.ca.gov'; 'Donald Strickland'
> Subject: CAISO Notice - CDWR RFB for Long Term Energy Contracts
>
>
> ISO Market Participants:
>
> As a follow up to  our previous announcement of a Request
> for Bids tomorrow morning, the Governor has released his announcement as
> follows:
>
>   <<PR01 030 energy auction.doc>>
>
> PLEASE NOTE THAT THE RELEASE HAS AN OMISSION OF "ONE YEAR"
> IN THE SECOND PARAGRAPH.  It should read as follows: "The contract bids
will
> extend for six months, one year, three years, five years and ten years
> respectively."
>
> Byron Woertz
> Director, Client Relations
>
>
>

 - PR01 030 energy auction.doc


much grass


Could you please make sure this is on my calender and ensure that Jeff Keenan and Dave Duran are also aware of this meeting.

Thanks.

 -----Original Message-----
From: 	"Wester, John" <John.Wester@austinenergy.com>@ENRON [mailto:IMCEANOTES-+22Wester+2C+20John+22+20+3CJohn+2EWester+40austinenergy+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, September 27, 2001 9:58 AM
To:	Presto, Kevin M.
Subject:	FW: Meeting of Sand Hill Management Committee

I had your email address wrong so the note below was returned.  Sorry about
that.  Hopefully you will get it this time.

John

>  -----Original Message-----
> From: 	Wester, John
> Sent:	Wednesday, September 26, 2001 5:39 PM
> To:	'Keenan, Jeffrey'; 'kevin.presto@enron.com'; 'tina.rode@enron.com';
> 'w.david.duran@enron.com'; Booth Eric (E-mail); Kirksey, Chris; Williams,
> LA; 'mike.coleman@enron.com'
> Subject:	Meeting of Sand Hill Management Committee
>
> As per Andy Ramirez's suggestion, the next meeting of the Sand Hill
> Management Committee will be held at the plant site on October 9 starting
> at 9:30 AM.  We are also moving forward with finalizing the outage work
> scopes for October 10-13 and 17-20.  Andy was the only one who responded
> and due to the Gardner Denver gas compressor work, we need to release them
> to plan for these dates.  If this is a problem, please advise.  I would
> also request that Jeffrey Keenan verify that all appropriate people at
> Enron have been notified concerning the meeting time and date.
>
> Thanks,
> John Wester
> Plant Manager
> Sand Hill Energy Center
>


i guess i have to keep my 395 price target.  just nothing bullish in the near
term except crude.  and that's not enough now.  need to get to a new price
regime to pick up more demand quickly.

From: Jennifer Fraser/ENRON@enronXgate on 05/06/2001 05:47 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: ng

what do you think this week and next 3 weeks-----june expiry 4.20?
 -----Original Message-----
From:  Arnold, John
Sent: Wednesday, April 25, 2001 7:00 PM
To: Fraser, Jennifer
Subject: Re: please fill in--i lost the scrap of paper

my numbers from mar 15.  would raise jun-augy by 10 cents because of the
supportive weather we had from mar 15-apr 15

From: Jennifer Fraser/ENRON@enronXgate on 04/19/2001 01:17 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: please fill in--i lost the scrap of paper

	arnold
May-01	455
Jun-01	395
Jul-01	370
Aug-01	350
Sep-01	350
Oct-01	360
Nov-01	360
Dec-01	325
Jan-02	280

Jen Fraser
Enron Global Markets Fundamentals
713-853-4759


Steve, Dan W. et al:

(Dan, can you make sure these charts get to Steve?)

Attached are some updated charts that are more accurate with respect to
Enron's current estimated cost of peakers in California.  Costs are up and,
to the extent you use these types of charts, you should use these updated
ones.  If you do not, this information will get attached somehow to our
November 22 comments.

In general, the higher the cost to build, the worse a price cap looks in
terms of disincentives to pursue a project.

Background on the Change:

Our origination people  (Chris Calger)  inform us that building a peaker
plant in California is now more expensive than Enron estimated back in
August.  These "August" numbers were circulated in a presentation by Tim
Belden and were  filed with the FERC.

The peaker charts to reflect a  25% increase in capital costs.  An increase
in costs is due to things such as:

 longer development time (Cal ISO has dragged out the schedule)
 local permitting constraints (sound abatement, strict construction schedules)
 labor costs in California
 emission offset credit costs are higher than previously expected

These higher costs, along with the uncertainty created by price caps, has
caused Enron to stop pursuing certain peaker, including Pleasanton.  Although
price caps increases uncertainty and increases the cost of capital, I have
not updated the charts to reflect a higher cost of capital as a conservatism.

Alan Comnes


Thank you


Earlier today, the New York Public Service Commission released a 122 page
draft report prepared by its staff evaluating the NYISO. The report concludes
that the ISO must pursue a wide range of operational reforms and other
consumer safeguards to "ensure a more efficient and stable electric market
that will better protect consumers from dramatic price increases." The report
culminates a months-long investigation begun by the PSC last summer in
response to problems and price run-ups in the wholesale market.

The major recommendations in the Report, some of which have already surfaced
in recent ISO Committee meetings, would be devastating to a competitive
wholesale market and would largely reregulate prices in New York. They
include the following (taken directly from the PSC's Press Release):

Reforming rules and procedures to improve the efficiency of the market and
minimize opportunities for market manipulation, or "gaming," by owners of
electricity generating facilities;
Initiating a $150 per megawatt hour price cap on generators to maintain
reasonable market clearing prices;
Creating a "circuit-breaker" mechanism that will prevent market power abuses
at levels below $150/MWH;
Lowering price thresholds significantly to allow the NYISO to step in more
quickly to investigate and mitigate price spikes;
Granting the NYISO retroactive refund authority to return to consumers gains
that generators improperly derive from market power abuse; and,
Creating a strong deterrent against price abuses by penalizing generators who
repeatedly use improper tactics to raise prices above competitive levels.

The NYPSC, of course, has no legal authority to impose any of these
recommendations. However, they are likely to muster support from the
Transmission Owners, governmental entities and loads, that usually control
enough votes to just  pass a motion at an ISO Committee. This will set up a
confrontation with the ISO Board, which is walking a delicate tightrope
between maintaining its independence and supporting a competitive wholesale
market on the one hand, and dealing with the politics of a hostile
Administration in New York. Last summer, as you may recall, the Board
rejected the $1000 bid cap pushed through by the PSC, voting instead for a
$1300 cap. That action was set aside by FERC, which reimposed the $1,000
level and then made it applicable in New England as well so that there would
be consistency among the three Northeast ISOs (PJM already had the $1,000
cap.)

Thus, whether NY follows the lead of California is likely to be determined by
FERC, and it will have to carefully consider the consistency concerns it
raised last summer in ultimately deciding whether it's OK for New York to set
price caps below its neighboring ISOs.

Attached is a copy of the PSC's Press Release and Report.

http://www.dps.state.ny.us/fileroom/doc8945.pdf


schedule
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/17/2000
12:54 PM ---------------------------

	From:  Cathy Phillips                           10/17/2000 10:38 AM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re: Corp Responsibility Task Force Meeting - Oct 25

Hi Jeff -

Mike said that this is a new task force that Joe Sutton is organizing and he
doesn't know much about it.  Mike said that our group needs to represented
and he is committed to a speaking engagement at lunch on that day.

Thanks for helping out.

CP

To: Cathy Phillips/HOU/ECT@ECT
cc:
Subject: Re: Corp Responsibility Task Force Meeting - Oct 25

what is this?

	From:  Cathy Phillips                           10/13/2000 05:12 PM

To: Stacy Walker/Enron Communications@ENRON COMMUNICATIONS@ENRON
cc: Jeffrey A Shankman/HOU/ECT@ECT, Jennifer Burns/HOU/ECT@ECT
Subject: Re: Corp Responsibility Task Force Meeting - Oct 25

Jeff Shankman will be attending for Mike McConnell.  His assistant is
Jennifer Burns.

Thanks.

Cathy Phillips
X-36898

	Stacy Walker @ ENRON COMMUNICATIONS
	10/13/2000 04:53 PM

To: Miguel Padron/SA/Enron@ENRON, Sanjay
Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Buy/HOU/ECT@ECT, Bob
Butts/GPGFIN/Enron@Enron, Brian Redmond/HOU/ECT@ECT, Tim DeSpain/HOU/ECT@ECT,
Mariella Mahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stanley
Horton/Corp/Enron@ENRON, Eddie Clay/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike
McConnell/HOU/ECT@ECT, Mitchell Taylor/Corp/Enron@ENRON, Hap
Boyd/EWC/Enron@Enron, Elyse Kalmans/Corp/Enron@ENRON, Vicki
Sharp/HOU/EES@EES, Jeffrey Sherrick/Corp/Enron@Enron, Dan Bruce/HOU/ECT@ECT,
Paula Rieker/Corp/Enron@Enron, Mark Schroeder/LON/ECT@ECT, Michael
Terraso/OTS/Enron@ENRON, Rob Walls/NA/Enron@ENRON, Brian
Stanley/EU/Enron@ENRON
cc: Karen E Campos/NA/Enron@ENRON, Beena
Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen K Heathman/HOU/ECT@ECT,
Dortha Gray/GPGFIN/Enron@Enron, Lillian Carroll/HOU/ECT@ECT, Inez
Dauterive/HOU/ECT@ECT, Isabel Romero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Cindy Stark/Corp/Enron@ENRON, Barbara
Hooks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cathy Phillips/HOU/ECT@ECT,
Rosario Boling/Corp/Enron@Enron, Sheila Petitt/EWC/Enron@Enron, Zulie
Flores/Corp/Enron@ENRON, Leasa Lopez/HOU/EES@EES, Christina
Grow/Corp/Enron@Enron, Mary Weatherstone/HOU/ECT@ECT, Laura
Valencia/Corp/Enron@ENRON, Beverley Ashcroft/LON/ECT@ECT, Laura
Glenn/OTS/Enron@ENRON, Debra Hicks/NA/Enron@ENRON, Charlotte
Tracey/EU/Enron@ENRON, Rosalee Fleming/Corp/Enron@ENRON, Maureen
McVicker/NA/Enron@ENRON, Lauren Goldblatt/NY/ECT@ECT
Subject: Corp Responsibility Task Force Meeting - Oct 25

Reminder: please be sure and mark your calendars for this important meeting.
Also, please let us know if you will be sending a designee.  We appreciate
and look forward to your participation!

----- Forwarded by Stacy Walker/Enron Communications on 10/13/00 04:52 PM
-----

	Joseph W Sutton@ENRON_DEVELOPMENT
	Sent by: Pam Benson@ENRON_DEVELOPMENT
	10/05/00 08:17 AM

		 To: Rick Buy@ECT, Stanley Horton/Corp/Enron@Enron, Mike
McConnell/HOU/ECT@ECT, Jeffrey Sherrick/Corp/Enron@ENRON, Paula
Rieker/Corp/Enron@ENRON, Mark A Schroeder/NPNG/Enron@ENRON, Rob
Walls/NA/Enron@Enron, Brian Stanley/EU/Enron@ENRON, Sanjay
Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Karen K Heathman/HOU/ECT@ECT, Cindy Stark/Corp/Enron@ENRON, Cathy
Phillips/HOU/ECT@ECT, Christina Grow/Corp/Enron@ENRON, Laura
Valencia/Corp/Enron@ENRON, Beverley Ashcroft/LON/ECT@ECT, Debra
Hicks/NA/Enron@Enron, Charlotte Tracey/EU/Enron@ENRON, Beena
Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kelly Kimberly@Enron
Communications, Michael Terraso/OTS/Enron@ENRON, Lauren Goldblatt/NY/ECT@ECT,
Pam Benson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, (bcc: Stacy Walker/Enron
Communications)
		 Subject: Corp Responsibility Task Force Meeting - Oct 25

Thank you for responding to our invitation to participate in the first
Corporate Responsibility Task Force Meeting.  The meeting will be on
Wednesday, October 25, 2000 from 10:30 am to 1:00 pm in the Enron Building -
50th floor boardroom.  Committee members from London will be able to
participate via video conference.   Lunch will be served for those
participating in Houston.

I will chair the meeting assisted by Kelly Kimberly, Sr. VP of EBS who heads
our Corporate Responsibility initiative.

In the event that you are unable to attend, please let us know who will
attend in your absence.  Should you have any questions, please feel free to
contact Kelly at 713-853-1611.  We look forward to your participation.

Thanks for your support!


The Dallas -  Oakland game was moved from October 21 to October 7.  The
attached pick sheet now includes that game.


Attached is the Enron Americas Gas Trading Maturity Gap Risk violation for
May 17, 2001.  The Office of the Chair for Enron Americas is responsible for
printing out a hard copy of this memo, signing it and returning the hard copy
to Chris Abel who will forward it to RAC to obtain their signature.

Please call me at x33102 if you have any quetions.

Thanks,
Chris Abel


Dear Ben Rogers,

You have been invited to participate in a deal on DealBench, sponsored by
Enron for Gleason.

You are about to experience firsthand our secure platform that enables
clients to conduct their business on the web. We provide a collaborative
environment to share documents, conduct auctions, host webcasts, manage deal
information and monitor deal progress - instantly, efficiently and
effectively.

In order to be able to view the deal, you have to update your user profile
with the deal key: 9703510972813704. This will enable you to view the deal
and participate in the process.  Please also remember that this deal key is
specific to the above deal.

We are looking forward to working with you.

If you have any questions or are unable to access the system, please email us
at: Webmaster@DealBench.com or call us at: +1-713-853-9438.

We encourage your feedback on both the platform and service, either via email
or telephone.

Kind regards,

WebMaster
DealBench


agree with last point and that is what they are doing.
re 2nd point, they are changing to officer only. if we know, we will tell them.
we went round and round on this and that is compromise. if we don't know and they don't they can't cure and we wouldn't call a default anyway.
re your first point, can you call elizabeth guffy re this and see if we have captured the receivables/inventory we need???? thanks

 -----Original Message-----
From: 	Nettelton, Marcus
Sent:	Monday, October 08, 2001 11:56 AM
To:	Mellencamp, Lisa
Cc:	Sager, Elizabeth
Subject:	RE: new power
Importance:	High
Sensitivity:	Confidential

Lisa

On the General Security Agreement, are we confident in Section 2 (a) that the reference to "sale of goods" that electricity is captured as a "good"?

In Section 13 (a) (iii) time should not start to run from when an executive officer receives knowledge thereof. We should not be put in the position of uncertainty as to when time begins to run. This is an important issue and the monitoring and reporting within NP should accord it the appropriate importance.

In respect of your point 3. below, are acquisitions a real risk/opportunity for NP? In any event I feel we need to be careful about exercising corporate control over NP and should mirror their current corporate governance requirements, rather than impose new requirements. What do you think?

Marcus

 -----Original Message-----
From: 	Mellencamp, Lisa
Sent:	Monday, October 08, 2001 10:40 AM
To:	Eickenroht, Robert; Nettelton, Marcus; Sager, Elizabeth; Tribolet, Michael; Bradford, William S.; 'david.burns@bakerbotts.com'; 'elizabeth.guffy@bakerbotts.com'
Subject:	new power

1. the defn of eligible accounts: UNBILLED-20%, NEW POWER BILLED-80%, UTILITY BILLED-30%
also, the 61 days goes from invoice date.
2. the collateral defn which includes general intangibles and proceeds will stay same.
3. re acquisitions-no change to the way they can approve now re acquisition process, so 70% comes out. (robert-i did talk to bill and michael about and they are ok with as is b and b).
4. amend 7(c) of master agreement to say that they have to provide covenant compliance cert. which says whether or not they have a MAC--right now ways that they have to say they have no MAC. this amendment should survive the replacement collateral period and be for all time. that way they have to tell us only one way or the other and the MAC does not cause an independent default in 2(a) of the master. this is how we think should have worked to begin with consistent with our other masters.
5. keep negative pledge.
6. severance cap: say that no executive deferred compensation or "parachutes" or similar will be paid during the period with our released cash or any other cash unless we are fully margined with cash and they have released the a/r and inventory. they can pay "pay as you go severance" during the period (i.e. no lump sum/ and limited to what the person would have received in monthly salary ordinarily).  they can also pay any other severance stuff (i.e. $ under employment contract )capped at $500,000.
david and elizabeth will turn the docs from last night with some other nits etc. fixed up for last internal look before we send. robert see if we haven't gotten what you have if you would so can keep going.
shout back anyone if disagree with above. have just confirmed this list with michael.


We have not heard back from Carla about her jury duty and whether it will
continue through tommorow.  Therefore could you inform your group to continue
sending the deal correction e mails to me until further notice.  Thank you
for your attention to this matter.


For gas daily options it is Eric Sandberg and Lance Jordan


FYI,  The issue we discussed this morning.

---------------------- Forwarded by Gerald Nemec/HOU/ECT on 03/17/2000 01:38
PM ---------------------------

Nora Dobin@ENRON
03/17/2000 01:05 PM
To: Cris Sherman/HOU/ECT@ECT
cc: Stephanie Balette/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT
Subject: LLC Accounting Issue--Consolidation

The Kachina LLC agreement is being amended and restated to accomplish Gallup
transactions as part of existing Kachina LLC.  The existing Kachina LLC
agreement currently does not contain a provision giving non-Enron equity
holders a right to remove the Managing Member with or without cause but does
give these holders numerous veto rights over actions proposed by the Managing
Member.  Notwithstanding these veto rights, AA seemed to indicate during our
meeting earlier this week a desire to include a removal provision.

Please consider the following:

Given use of existing Kachina structure, do we do need to include removal
provision as part of amendment and restatement of Kachina LLC or can we table
this issue for now?

If we do need to include a removal provision, attached is some proposed
language which (i) gives non-Enron equity interests right to remove Managing
Member at any time with or without cause, (ii) requires simultaneous
appointment of another Member as Managing Member, and (iii) if removal is of
initial Managing Member (i.e., Enron entity), then initial Managing Member
has option to cause dissolution of LLC.

Thanks, NJD


fyi
---------------------- Forwarded by Mary Jo Johnson/HOU/ECT on 08/01/2000
09:50 AM ---------------------------

From:  Russell Diamond
     08/01/2000 09:48 AM

To: mlannou@hilcorp.com
cc: Mary Jo Johnson/HOU/ECT@ECT, Brad Schneider/Corp/Enron@Enron
Subject: Letter of Credit Format

Mike,

Please see the attached L/C format to cover physical delivery of natural gas
for one month.

As discussed, the L/C amount should be $1.6 million to expire Oct. 15, 2000.
In addition the L/C should be in the name of Hilcorp Energy Company.  I also,
left you an additional voice mail, stating that once we have received a faxed
copy of the L/C from your bank, we will then be willing to flow gas.

Regards,
Russell


Hi!

            You must have ESP!  Last night I told Dick I needed to call  and
see how you were and what you were doing for Christmas.  We have to work on
the 26th (even though it's an ENE holiday) so we would have to come back on
Christmas day if we went home.    We decided to stay in Houston.  I'm so glad
you are going home but to tell the truth I feel like you do about traveling
during the holidays.  Nothing new with us - just about finished decorating
the house but sometimes I think I'll never get done.   I have not bought a
thing for Dick yet - still do not know what to get him!  I guess I'll be one
of those crazies out shopping on Christmas Eve.  We went home for
Thanksgiving and I caught a cold that I'm just now getting over.  Will you be
coming to Houston in the near future?  If you do you are more than welcome to
stay with us while your here - we would love to have you!  Better go but
let's meet like this more often!  Take care and have a very Merry Christmas!


HI,  we will postpone the meeting for today.  I do not have the list ready
for Joe, and we are all so busy.  I feel it would be better to do the meeting
again after the first of the year.

Thanks,
Brenna


----- Forwarded by Jeff Dasovich/NA/Enron on 10/11/2000 02:23 PM -----

	Susan J Mara@EES
	10/11/2000 02:12 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: Fwd:

---------------------- Forwarded by Susan J Mara/SFO/EES on 10/11/2000 12:12
PM ---------------------------

"Daniel Douglass" <douglass@ArterHadden.com> on 10/11/2000 12:54:40 PM
To: <Barbara_Klemstine@apsc.com>, <Bob_Anderson@apses.com>, <berry@apx.com>,
<dcazalet@apx.com>, <billr@calpine.com>, <jackp@calpine.com>,
<glwaas@calpx.com>, <Ken_Czarnecki@calpx.com>, <cabaker@duke-energy.com>,
<rjhickok@duke-energy.com>, <GTBL@dynegy.com>, <KEWH@dynegy.com>,
<j_dasovi@ect.enron.com>, <rpelote@energy.twc.com>, <susan_j_mara@enron.com>,
<curt.Hatton@gen.pge.com>, <foothill@lmi.net>, <camiessn@newwestenergy.com>,
<jcgardin@newwestenergy.com>, <rsnichol@newwestenergy.com>,
<curtis_l_kebler@reliantenergy.com>, <rllamkin@seiworldwide.com>,
<cfi1@tca-us.com>
cc:
Subject: Fwd:

Attached are Frank Wolak's slides from his presentation at WPTF's meeting
last Friday.? Greg Blue asked that I send these to the board, although I
note that?a few?of you received them directly from Frank.
?
Dan
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Date: Tue, 10 Oct 2000 07:37:06 -0700
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Here are my slides from the WPTF presentation as a .pdf file.

Frank Wolak
 - wptf.pdf


Start Date: 10/13/01; HourAhead hour: 10;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001101310.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/13/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: EPMI_CISO_ORANGE
  ENGY_TYPE: WHEEL
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/13/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_GOLD
  ENGY_TYPE: WHEEL
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/13/01
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: EPMI_CISO_YELLOW
  ENGY_TYPE: WHEEL
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/13/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_YELLOW
  ENGY_TYPE: WHEEL


Adam, thanks for the response, I guess it is a good thing for Enron that we
didn't do this deal with TXU.  Nevertheless, I hope that we can find a way
through this without significantly impairing value for ENA.  The ENA team
will work with you on this item;however, I need your committment to try and
keep us whole as much as possible.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 08/25/2000
09:00 AM ---------------------------

Adam Umanoff@ENRON
08/22/2000 06:59 PM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Re: Indian Mesa

Thanks for the message.  I appreciate your responses to my August 8 memo and
agree that the deal you are currently proposing looks alot closer to the deal
we had been discussing with TXU.  As far as negotiating approach is
concerned, my intention was not to retrade our deal, but frankly your team's
approach up until your recent response certainly suggested that you were.  As
we considered our options, we used the time to scrub our economics and as I
think Jim Noles told you, have discovered that our economics have
deteriorated (significantly).  Not your fault/problem, but a real issue for
me.  I have my people looking at the deal again to see if we can offer some
creative suggestions to improve the deal for us (without killing you).  At
the end of the day, I want to do this deal; but I can't do an uneconomic
deal. By the way, the other parties who signed up with TXU all did so in the
$26-27.5 range (energy and RECs), suggesting that our deal for you is way
under market.  I am committed to pushing hard to get this deal done!  Let's
talk later this week once my team hooks up with yours to see if we have a way
forward.  Adam

David W Delainey@ECT
08/21/2000 09:49 AM
To: Adam Umanoff/EWC/Enron@ENRON
cc: Mark Frevert/NA/Enron@Enron, James L
Noles/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Indian Mesa

Adam, I believe that we have formally responded to all your issues as per
your memo to me of August 8, 2000. In all or almost all cases, we have
accepted your position.  The agreement should look and behave very closely to
what you would have signed with the competing utility. In addition, ENA is
paying a higher price, sharing credits and have voluntarily increased the
term to twelve years from ten.

I do not understand what is holding up completing this transaction other than
a complete re-trade on the original transaction. I hope this is not the
case.  The ENA team worked hard to facilitate this transaction for Enron
Wind.  In fact, we were originally solicited by Enron Wind to help build the
merchant wind market and we had to coax Enron Wind to do this transaction
with ENA versus TXU.

I look forward to finding a solution to this current impasse.

Regards
Delainey


Hi Richard,

Who would be a good contact regarding contract settlement between EEMC and PGE&T in NEPOOL?  Apparently, EEMC should be receiving $$ from PGE&T.

Thanks,
Lloyd
x52886


Twanda, please note.  MHC

 -----Original Message-----
From: 	Butler, Pam
Sent:	Thursday, July 05, 2001 1:36 PM
To:	Laing, Melissa; Cash, Michelle
Cc:	Henry, Alison
Subject:	RE: Jeff Kinneman

All agreements may now be forwarded to Mary Joyce as well as Dana Bryant, our new compensation analyst.  Michelle, please add to your distribution list a copy for Dana (that will work for me as well.)

 -----Original Message-----
From: 	Laing, Melissa
Sent:	Thursday, July 05, 2001 12:12 PM
To:	Cash, Michelle
Cc:	Butler, Pam; Henry, Alison
Subject:	Jeff Kinneman

Hi Michelle,

I received the employment agreements for Jeff Kinneman for execution by the company.  John Sherriff has signed them and as such I am returning them to you.  However, please confirm that  John Sherriff is permitted to sign on behalf of Enron North America Corp.

As Jeff is a US employee working in Houston with only a dotted line to Europe, I presume that the compensation team in Houston will be loading the executive agreement onto the relevant compensation system, and ensuring that the contract is passed to the relevant person for requesting the options etc. ( I know that it used to be Mary McKendree, so I am copying Pam on this message).

Regards

Melissa

Tel: +44 207 783 6617
Fax: +44 207 783 8887
Cell Phone: +44 7768 255 058


NO problem///   we need to get together sometime..........

the kid!


All,

We will be offering monitors for sale again in the Portland Office.  We have a variety of monitors for you to choose from.

Older 17' units - $10
Newer Compaq 17' units - $20
Older 21' units - $25
Newer Compaq 19' units - $35

Please respond to this email with the type of monitor you would like to purchase.  Will have a lottery type drawing on Friday Morning. By Friday afternoon, you will be notified that you can come by and pick out your monitor. We need to have all monitors picked up and removed my Friday the 2nd. After that, all remaining monitors will be donated to charity.

Regards,
Paul Kane
Portland IT


Janet just left me a voice mail and believes this is an ENA deal after all.  Barbara--you may want to get ahold of Janet to verify ownership on this one.  Please let this group know what the final answer is.  DF

 -----Original Message-----
From: 	Fossum, Drew
Sent:	Tuesday, October 23, 2001 3:44 PM
To:	Sanders, Richard B.
Cc:	'James Derrick (Business Fax)'; Edison, Andrew; Gray, Barbara N.; Place, Janet
Subject:	Crescendo

The Crescendo project is a Northern Border project, and the appropriate contact for Christopher Sullivan (the fellow that left Jim the voice mail) is probably Janet Place.  I've left Janet a voice mail with the contact information on Sullivan and asked her to get ahold of him regarding his letter on the helium issue.  In case you access email ahead of voice mail Janet, the guy is Chistopher Sullivan, Rocky Mountain Helium, 1-800-945-1547.  Thanks all.  DF


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I have attached another swaption for your review. This one will be contigent
upon us having an ISDA and closing on another project. I know we have worked
on some with that language and the only one I can find is the Quaker Swaption
which I emailed to you earlier today.

Thanks,

Jarrod


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/17/2000
04:57 PM ---------------------------

Shirley_Keeney@eogresources.com on 11/16/2000 01:39:39 PM
To: Paula_Corey@enron.net, vkamins@enron.com, kwalsh@enron.com
cc:
Subject: Florida Ballot info

from my daughter Kris.....

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
++

    I saw this on one of my webgroups. I thought it was interesting, and
thought you might find it so as well.....

Ordinarily I don't post stuff like this here, but I've been asked to do
so for the benefit of those RenGeeks who get all their news from here.

This information comes from my father, who heard it once (and only once)
from the media.  Either from Fox News Channel or from CBS radio.  If
someone can post an official source to back this up, I'd love to see
it.

Anyway, that being said, you may find this of interest:

- Regarding those 19,000 double-punched ballots that Florida is not
  counting, and that the Gore campaign is using to try and call for
  another vote:

  These ballots are (mostly) not the result of confused individuals.  In
  reality, double-punching a ballot is standard procedure for election
  workers to invalidate a ballot that were punched in error.  If you
  punch out the hole for someone, and then change your mind before
  putting the card in the box, and you ask an official for another card,
  the old card (with your mistake) is deliberately double-punched so
  that it shouldn't accidentally be counted.

  In other words, Gore's claim that 19,000 of his supporters are having
  their votes discarded is completely bogus.  Those double-punched cards
  correspond to mistakes that have already been corrected.

  Also of interest - this isn't unusual.  In 1996, Palm Beach had
  approximately 15,000 double-punched ballots.  For the same reason.
  Because people made mistakes and needed new cards.

  While I'm sure some of the double-punches were from clueless voters,
  it is completely wrong when the media says that this is the case for
  all 19,000 of them

  (Souce for the 1996 figure:
http://foxnews.com/election_night/after/confusing_ballots.sml)

- Regarding the "illegal" butterfly ballot that the Gore people want
  invalidated (to call for a re-vote in Palm Beach), they are
  conveniently ignoring some of that law.

  The law in Florida is that a ballot, once designed, is presented to
  both parties for review.  They have 30 days in which to file
  complaints.  If nobody complains before the election, then it can't be
  thrown out afterwards.  Neither the Republican nor the Democratic
  party filed any complaint with the ballot during the 30 day review
  period.

- Regarding the 3400 Buchannan votes that came from Palm Beach.  It's
  actually not as surprising as the media would have you believe.
  During the campaign, Buchannan held a fund-raising dinner in Palm
  Beach.  He was able to get 1000 attendees.  If 1000 people were
  willing to pay money and attend his fund raiser, I would consider 3400
  votes from that same place to be very surprising.

-- David


Hey guys, just fyi....

-----Original Message-----
From: GAS EXCHANGE [mailto:GASEXCH@nicor.com]
Sent: Monday, January 07, 2002 3:35 PM
To: Wesneske, Brian; Cmuzzy@enron.com; Pendergrass, Cora;
dianne.j.swiber@enron.com; Gerl, Jeff; Jessica.White@enron.com;
jguerra@enron.com; jlynn@enron.com
Subject: Advisory

"Advisory"

With high storage inventories and low sendout volumes due to warm weather in the forecast, Nicor Gas is advising shippers that it may be forced to limit pipeline receipts.

Its anticipated that no limit will be required if shippers do not increase volumes as nominated for gas day January 8, 2002.

Nicor Gas is providing this "Advisory" notice so that shippers will be prepared to make other arrangements.

If it becomes necessary for Nicor Gas to limit pipeline receipts, we will give you notice.


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RE:  EOL development priorities, reporting & commercial activities & showing you the budget


-----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 02, 2002 3:33 PM
To:	Mann, Kay; Gray, Barbara N.
Cc:	Knippa, Mark; Wise, Jack; Denetsosie, Troy; Coffey Jr., Jim
Subject:	FW: ADDENDUM

Addendum for El Paso's GISB for Enron Compression.

Kay, Barbara, please let me know which one of you is working on this deal.

thanks

 -----Original Message-----
From: 	"Gregory, Harry" <Harry.Gregory@ElPaso.com>@ENRON
Sent:	Tuesday, April 02, 2002 3:14 PM
To:	Germany, Chris
Subject:	ADDENDUM

 <<ADDENDUM TO GISB AS OF 02-20-02.doc>>

Addendum to EPME GISB.

Harry

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************

 - ADDENDUM TO GISB AS OF 02-20-02.doc


As requested.

Please call if you need anything else.

By the way, I have the original contracts in my office.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/23/2000 09:03
AM ---------------------------

Brian D Barto@ENRON_DEVELOPMENT
06/20/2000 02:00 PM
To: Kay Mann/Corp/Enron@ENRON, John.Schroeder@ps.ge.com,
jeffreye.smith@ps.ge.com
cc:

Subject: Re: Vitro

Kay, John & Jeff:

Final files of the Onshore Contract, Offshore Contract and Consolication
Agreement


well, i was wanting to see what you were doing for lunch.


Jerry/Eric/Frank,

Attached please find a "Unit Contingent" call option proposal that I had
promised you at our last meeting.  The thought here is Frontera could sell
energy firm from the plant (once you become comfortable with its operation)
and hedge most of the risk of a unit outage with this product.  The time to
do this is when the premium for a firm product (roughly $5/MWh) is greater
than the price of this product (roughly mid to high $2's).  You will find
both an indicative proposal for Jun-Sep01 (I am not suggesting this term but
wanted to give you a feel for the pricing) and the entire standard contract
attached below for your review.

This may require further explanation on my part but I thought I would send it
to you now so you can become familiar with it.  Please call if you have any
questions, - Mike 713-853-4258

 -----Original Message-----
From:  Ahn, Chris
Sent: Monday, May 14, 2001 9:35 AM
To: Dean, Clint
Cc: Curry, Mike
Subject: re: Contingent Call on Fronterra

Chris Ahn
Enron Power Marketing, Inc.
T: (713) 345 3613
F: (713) 646 8055


Attached is a memo analyzing the Commodity Futures Modernization Act of
2000.  The document is 50 pages, contains a table of contents, and an
executive summary. We hope this information is useful.

 <<Analysis of Commodity Exchange Act Legislation.doc>>

Stacy Carey
Director North American Regulatory Policy
International Swaps and Derivatives Association
(202) 457-6545 ph
(703) 256-1833 fax
(917) 543-9622 cell
scarey@isda.org

 - Analysis of Commodity Exchange Act Legislation.doc


you win the big prize!


Start Date: 4/11/01; HourAhead hour: 19;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041119.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 19 / Preferred:   9.77 / Final:   9.76)
  TRANS_TYPE: FINAL
  LOAD_ID: SCE1
  MKT_TYPE: 2
  TRANS_DATE: 4/11/01
  SC_ID: EPMI


I am currently working on the issues effecting Terminal Server and Enpower.
I am  awaiting a call back from the Networking team.  Please bear with me
while I get this fixed.   I will keep you posted.

Thanks,
Diana


I have been trying to hook up with Kevin and will see him tomorrow.  I still
prefer to use the "old exec committee plus" for this PRC with a reformed MD
PRC starting at mid year.  We have too many people in transition to just
switch over to the policy committee at this stage.

	Cindy Olson
	12/04/2000 09:10 AM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: Re:

Steve, my preference is the first option however I can live with either
really.......we just need to make a decision ......what do you think??????
---------------------- Forwarded by Cindy Olson/Corp/Enron on 12/04/2000
09:00 AM ---------------------------

David Oxley@ECT
12/04/2000 08:29 AM
To: Cindy Olson/Corp/Enron@ENRON
cc: Gina Corteselli/Corp/Enron@Enron, Andrea Yowman/Corp/Enron@ENRON

Subject: Re:

How can we resolve today if possible?
---------------------- Forwarded by David Oxley/HOU/ECT on 12/04/2000 08:28
AM ---------------------------

Kevin Hannon@ENRON COMMUNICATIONS on 12/02/2000 10:12:58 AM
To: Gina Corteselli/Corp/Enron@ENRON
cc: Cindy Olson/Corp/Enron@ENRON, David Oxley/HOU/ECT@ECT@ENRON, Steven J
Kean/NA/Enron@Enron
Subject: Re:

You know my opinion, I vote for option #2.

Kevin

	Gina Corteselli@ENRON
	11/30/00 07:19 PM

		 To: Steven J Kean/NA/Enron@Enron, Kevin Hannon/Enron Communications@Enron
Communications, Cindy Olson/Corp/Enron@ENRON
		 cc: David Oxley/HOU/ECT@ECT
		 Subject:

Following discussions with Steve and Kevin yesterday, we're providing some
options for the conduct of final PRC reviews  for the Enron VP's and MD's.
Please let us know which of these options (or a derivative therein) you'd
prefer.

For continuity through the year-end process, we might consider having the
existing MD VP PRC Committee review the VP slate; and  the former EC and two
newly appointed EC members  who are also VP PRC Committee, (John  Lavorato
and Jeff Shankman were suggested), ratify the VP slate and review the
MD's.    The newly appointed EC members who are MD level will remain in the
"Not Rated" category, so that Jeff and John may participate in the overall
discussion and depart before discussions relative to them and their EC
colleagues.

Alternatively, we might disband the existing MD VP PRC Committee in favor of
having the newly appointed EC  (13  of whom are MD VP PRC) review the VP
slate.  Thereafter, the Enron Corporate Policy Committee would be responsible
for ratifying these results and for reviewing the MD's slate.  Insofar as the
Policy Committee might require further  information on individual MD's,
selected EC members could be invited for an appropriate period of time to
provide the necessary details.

If we opt to disband the existing MD VP PRC we'd need to notify those members
who aren't part of the new EC that their services are no longer required.  In
so much as some of these people are currently assigned to, and attending, BU
and functional pre-rankings clearly the sooner we are able to do this, the
better.

Your immediate attention to this issue would be greatly appreciated, since we
are eager to begin the year-end VP/MD PRC planning process.  Thanks in
advance,

Gina Corteselli


Vince, the following information is missing from your employee profile which
will be used at the MD PRC meeting on 8/15/00:

Current Responsibilities
Previous experience at Enron

Please go into your GIS file and update by end of business day Monday, July
31st.

If you have any questions or problems getting into your file, please call
Kathy Schultea at EXT 33841.

Thank you.


GE has agreed to the requested changes to the parent guaranty.

Kay

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/24/2001 10:40:53 AM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc:

Subject: Delta Documents for GE

 <<GE.LegalOpin.DOC>>  <<GE.Consent.DOC>>  <<GE.Receipt.DOC>>
<<GE.Ltr.Forms.DOC>>

Kay:

We have attached execution copies of the following documents for execution
by GE:

1.  GE Letter re Forms of Agreement;
2.  GE Consent and Agreement;
3.  Legal Opinion of Counsel to GE;
4.  GE Receipt.

These documents were circulated by Isabel Parker to Kent Shoemaker, you, me
and others on April 23, 2001.

The only other document is the GE Parent Guaranty.  Greg Lang circulated
comments (in a PDF file) by an e-mail 4/18 at 5:59 p.m.   Greg asked earlier
today whether the form of this document had been agreed by GE and I could
not respond.

You should have the following documents:

1.  Assignment and Assumption Agreement; and
2.  Turbine Contract.

Several of the ENA documents are not yet finalized, so I will try to get
those to you after lunch.  Please send over the LLC certificate book in
order that we may prepare membership certificates.

If you have any questions or comments, please advise.  Thanks.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

Enclosures

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - GE.LegalOpin.DOC
 - GE.Consent.DOC
 - GE.Receipt.DOC
 - GE.Ltr.Forms.DOC


did you open an account on world sports exchange?  if you open one use me as
the referral and i will split the $50 with you and we can make a bet.  i
might go meet jill and them for drinks around 730 if you want to go.


Please attend the following.

When: Tuesday, January 22, 2002 11:00 AM-12:00 PM (GMT-06:00) Central Time (US & Canada).
Where: ECS 05712

*~*~*~*~*~*~*~*~*~*


Your message

  To:      OMeara, Dina; Edmiston, John; Gas Daily (E-mail); Iferc1
(E-mail); Iferc2 (E-mail); NGI (E-mail)
  Sent:    Thu, 25 Oct 2001 14:55:02 -0400

was delivered to the following recipient(s):

OMeara, Dina on Thu, 25 Oct 2001 15:07:09 -0400
    MSEXCH:MSExchangeMTA:South Brunswick:TORMXSMB01

 - C.DTF


This is a classic.
______________________________________________________________________________
_______
Get more from the Web.  FREE MSN Explorer download : http://explorer.msn.com

Content-Transfer-Encoding: 7bit
Return-path: <CRAIG767@aol.com>
From: CRAIG767@aol.com
Full-name: CRAIG767
Message-ID: <3c.4138f91.27540c2e@aol.com>
Date: Mon, 27 Nov 2000 14:12:46 EST
Subject: Letter From College
To: B2Marina@aol.com, dbarber@iglou.com, mbosc@greaterlouisville.com,
krcordes@yahoo.com, CGeorge462@aol.com, Imbah@aol.com, rickh@spectracare.com,
grahamh@dellnet. com, Bttoomey@aol.com, JAVezeau@yahoo.com
MIME-Version: 1.0
Content-Type: text/plain; charset="US-ASCII"
X-Mailer: Windows AOL sub 123

LETTER FROM COLLEGE

An exact replica of a letter a daughter wrote to her parents
from college

Dear Mom and Dad:

It has now been three months since I left for college. I
have been remiss in writing this and I am very sorry for my
thoughtlessness in not having written before. I
will bring you up to date now, but, before you read on,
please sit down.

YOU ARE NOT TO READ ANY FURTHER UNLESS YOU ARE SITTING DOWN.

OKAY! Well, then, I am getting along pretty well now. The
skull fracture and the concussion I got when I jumped out of
the window of my dormitory when it caught
fire shortly after my arrival are pretty well healed now. I
only get those sick headaches once a day.

Fortunately the fire in the dormitory and my jump were
witnessed by an attendant at the gas station near the dorm,
and he was the one who called the fire department
and the ambulance. He also visited me at the hospital and,
since I had nowhere to live because of the burned out
dormitory, he was kind enough to invite me to share
his apartment with him. It's really a basement room, but
it's kind of cute.

He is a very fine boy and we have fallen deeply in love and
are planning to be married. We haven't set the exact date
yet, but it will be before my pregnancy
begins to show.

Yes, Mother and Dad, I am pregnant. I know how much you are
looking forward to being grandparents and I know you will
welcome the baby and give it the love,
devotion and tender care you gave me when I was a child.

The reason for the delay in our marriage is that my
boyfriend has some minor infection, which prevents us from
passing our pre-marital blood tests, and I
carelessly caught it from him. This will soon clear up with
the penicillin injections I am having daily. I know you will
welcome him into our family with open arms. He is kind and,
although not well educated, he is ambitious. Although he is
of a different race and religion than ours, I know your
often-expressed tolerance will not permit you to be bothered
by the fact that his skin color is somewhat different from
ours. I am sure you will love him as I do.

His family background is good too, for I am told that his
father is an important gun-bearer in the village from which
he came.

Now that I have brought you up to date, I want to tell you
that there was no dormitory fire, I did not have a
concussion or a skull fracture. I was not in the hospital, I
am not pregnant, I am not engaged. I do not have syphilis
and there is no man in my life.

However, I am getting a 'D' in History and an 'F' in Science
and I wanted you to see those marks in the proper perspective.

Yours,

Your Loving Daughter.


Tana,

No probs. They are listed on the first section of the Tokyo Stock Exchange
and are the second largest paper company here.

Jane McBride
Senior Legal Counsel
Enron Japan Corp.

Otemachi 1st Square Bldg.
West 11th Floor
1-5-1 Otemachi, Chiyoda-ku
Tokyo 100-0004
Japan

URL:        www.enron.co.jp

Tel.:       81-3-5219-4500 (Main)
            81-3-5219-4553 (Direct)
Fax:        81-3-5219-4510

Assistant (Maggy Yamanishi)
Tel.:       81-3-5219-4554
Email:      Yo.Yamanishi@enron.com

	Tana Jones@ECT
	2001/05/11 07:08

		 To: Jane McBride/AP/Enron@Enron
		 cc:
		 Subject: Re: Click Paper Approvals, 05-08-2001

Jane,

We have a Japanese counterparty on this list that wants to trade physical &
financial pulp & paper.  Any problems?
----- Forwarded by Tana Jones/HOU/ECT on 05/10/2001 05:07 PM -----

	Amber Ebow
	05/10/2001 02:48 PM

		 To: Aparna Rajaram/ENRON@enronXgate @ ENRON
		 cc: Kelly Lombardi/NA/Enron@Enron, Samuel Schott/HOU/ECT, Bernice
Rodriguez/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Steve Venturatos/HOU/ECT@ECT,
Tanya Rohauer/ENRON@enronXgate@ENRON, Tom Moran/ENRON@enronXgate@ENRON, Tana
Jones/HOU/ECT@ECT, Frank L Davis/ENRON@enronXgate@ENRON, Ken
Curry/ENRON@enronXgate@ENRON, Nicole Hunter/ENRON@enronXgate@ENRON, Lesli
Campbell/ENRON@enronXgate@ENRON, Angela Y Brown/ENRON@enronXgate@ENRON, Karen
Lambert/HOU/ECT@ECT, Fraisy George/ENRON@enronXgate@ENRON
		 Subject: Re: Click Paper Approvals, 05-08-2001

Any GCP Adjustments will be highlighted in blue.  Please feel free to give me
a call with any questions.

Amber N Ebow x5-8331
Global Counterparty_Enron Net Works

From: Aparna Rajaram/ENRON@enronXgate on 05/08/2001 04:36 PM
To: Kelly Lombardi/NA/Enron@Enron, Samuel Schott/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Steve Venturatos/HOU/ECT@ECT,
Samuel Schott/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Tana Jones/HOU/ECT@ECT, Frank L
Davis/ENRON@enronXgate, Ken Curry/ENRON@enronXgate, Nicole
Hunter/ENRON@enronXgate, Lesli Campbell/ENRON@enronXgate, Angela Y
Brown/ENRON@enronXgate, Amber Ebow/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT,
Fraisy George/ENRON@enronXgate
cc:
Subject: Click Paper Approvals, 05-08-2001

Please see attached.

Aparna Rajaram
Ph: (713) 345-4563
Fax: (713) 853-9476
Aparna.Rajaram@enron.com


W E D N E S D A Y   E V E N I N G   E X T R E M E   M A R K E T S
A complimentary service from INO.com ( http://www.ino.com/ )

Wednesday: The CRB Index is up 0.10 points to 195.13. The
US Dollar Index edged higher by 0.16 points to 116.99.

The Dow Industrials dropped 56.46 points, at 10094.09, while
the S&P 500 edged lower 5.57 points, last seen at 1155.14. The
Nasdaq Composite trended lower by 10.89 points to 2044.89.
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The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

Stock indexes closed lower on Wednesday. The NASDAQ gapped up on the
open and traded to new highs for the year early in the session.
However, a sell off ahead of the close due to profit taking led to a
downside reversal on Wednesday. Additional weakness on Thursday is
needed to confirm today's bearish reversal pattern thereby increasing
the odds that a short-term top has been posted. Short-term momentum
indicators are diverging and turning neutral to bearish hinting that
a top is in or near. The NASDAQ closed down 10.85 points at 2044.89.
The March S&P 500 index posted a key reversal down on Wednesday
ending 8.80 points lower at 1154.50. March is poised to test the
Dec./Jan. uptrend line crossing near 1148.70 on Thursday. Closes
below this uptrend line and last week's low at 1136.50 would confirm
that a double top has been posted.

The Dow closed lower on Wednesday as it tested broken fib resistance
crossing at 10,094.10. Today's low-range close sets the stage for a
test of the Dec./Jan. uptrend line crossing near 10,045 on Thursday.
Closes below this support level would increase the odds that a
short-term top has been posted.

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

March T-bonds closed higher on Wednesday due to a late- session short
covering rebound. Today's high-range close leaves March poised to
test the upper boundary of this winter's trading range crossing at
102-05. Closes above this resistance level would open the door for a
larger-degree rebound into the later part of January with December's
high crossing at 105-06 being a potential target. Short-term momentum
indicators remain bullish signaling that sideways to higher prices
are possible near-term.

The CRB INDEX http://quotes.ino.com/exchanges/?c=indexes

The CRB index closed modestly higher on Wednesday as it remains above
2001's downtrend line and the 25% retracement level of the 2000/01
decline crossing at 195. Confirmation of this week's trendline
breakout would open the door for a possible test of last September's
high, which coincides with the 38% retracement level of the 2000/01
decline crossing at 202.52 later this winter. Strength in soybeans,
cattle and precious metals underpinned today's rally. The daily ADX
(a trend-following indicator) signals that additional strength is
possible.

ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy

The energy markets closed lower on Wednesday in responds to Tuesday's
bearish API inventory reports. The latest API report showed that
crude oil stocks for last week rose by 115,000 barrels. Gasoline
stocks rose by 798,000 barrels and distillate stocks including
heating oil rose by 5.682 million barrels. The increases in inventory
indicate that demand remains weak in the face of weak U.S. and world
economic conditions.

February crude oil closed sharply lower on Wednesday and below
December's uptrend line crossing near 20.40 thereby confirming that
Monday's high marked a short-term top. Closes below last week's low
crossing at 19.66 would open the door for a larger-degree decline
into the later part of January. Stochastics and the RSI have turned
bearish from overbought levels signaling that sideways to lower
prices are likely over the next few weeks.

February heating oil plunged to new lows for the year on Wednesday
and closes below last week's low of 55.20 thereby opening the door
for a possible test of December's low crossing at 50.70 later this
month. Stochastics and the RSI are bearish signaling additional
weakness is possible near- term. I would not be surprised to see a
steady to higher close on Thursday due to light short covering on
ideas that today's sell off might have been overdone.

February unleaded gas closed sharply lower on Wednesday and below
December's uptrend line crossing near 60.10 thereby confirming that a
top and trend change has been posted. While a short covering bounce
is possible on Thursday and could lead to a test of December's broken
uptrend line, stochastics and the RSI have turned bearish signaling
that additional weakness appears likely. Closes below last week's low
at 57.20 would open the door for a larger-degree decline into the
later part of January.

February Henry Hub natural gas closed lower on Wednesday ahead of
today's AGA inventory report. The mid-range close leaves the door
open for sideways trading on Thursday barring a surprise in this
week's AGA report. Closes below weekly support crossing at 2.17 would
open the door for a possible test of psychological support crossing
at 2.00 later this month. The daily ADX is in a bearish mode
signaling that additional weakness near-term is possible.

CURRENCIES http://quotes.ino.com/exchanges/?c=currencies

The March Dollar closed modestly higher on Wednesday as it extends
its rebound off last week's low. Stochastics and the RSI are turning
neutral to bullish signaling that additional gains near-term are
possible. I would not be surprised to see a modest setback on
Thursday after March filled the late-December gap at 117.78. The
mid-range close hints that we could see some profit taking on
Thursday. Longer-term March needs to close above 118.85 or below
116.00 are needed to clear up near-term direction in the market.

The March Swiss Franc closed lower on Wednesday and in doing so
turned a number of short-term momentum indicators neutral to bearish
thereby tempering the friendly outlook in the market. Close of .6020
could lead to a test of key support crossing at .5973 later this
month.

The March Canadian Dollar posted an inside day with a lower close
thereby leaving Tuesday's key reversal up unconfirmed. Closes above
last week's high crossing at .6290 are needed to confirm that a
double bottom was posted in late-December. Momentum indicators are
oversold but have not confirmed that a bottom is in place.

The March Japanese Yen closed unchanged after spiking to a new
contract low earlier in the session. Closes below monthly support
crossing at .7558 would extend March's decline off September's high
and set the stage for a test of long-term support crossing at .7210
later this winter. The daily ADX has turned sideways leaving the door
open for additional weakness near-term.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

February gold closed sharply higher on Wednesday as it broke out to
the topside of December's symmetrical triangle. Today's rally and
close above November's reaction high crossing at 283.30 has left
February poised to test the 50% retracement level of last fall's
decline crossing at 284.60 possibly on Thursday. Stochastics and the
RSI returned to a bullish mode with today's breakout signaling that
sideways to higher prices are possible near-term.

March silver closed into new highs for the year on Wednesday falling
just short of October's high crossing at 4.74 before profit taking
tempered some of today's gains. If October's high at 4.74 is cleared,
last September's high at 4.795 is a potential target later this
winter. The ADX (a trend- following indicator) remains bullish
signaling that additional strength is still possible.

March copper closed higher on Wednesday as it renewed this week's
rally. Producer and trade selling near Tuesday's highs limited
today's gains despite fund related buying. This week's turnaround in
fund related buying was triggered by ideas that the economy will see
significant improvement during the coming year. The door is open for
an eventual test of November's high crossing at 73.70. Stochastics
and the RSI are bullish signaling that additional gains are possible.

GRAINS http://quotes.ino.com/exchanges/?c=grains

March corn closed lower on Wednesday as it posted a potential key
reversal down ahead of Thursday's export sales report. Session lows
fell within a penny of the contract low before a short covering
bounce ahead of the close tempered some of today's loss. Additional
pressure came from news that Mexico's soft drink industry has an
informal agreement not to use high-fructose corn syrup as a sweetener
in their products to avoid a new 20% tax. If this becomes reality, it
would make a significant dent in U.S. corn exports to Mexico thereby
resulting in increased carryout levels for 2002. I would not be
surprised to see an inside day on Thursday barring a major bearish
surprise in tomorrow's weekly export sales report. Closes above
December's downtrend line crossing near 2.14 3/4 are needed to
confirm that a bottom has been posted.

March wheat posted a downside reversal on Wednesday and closed below
broken weekly resistance crossing at 3.04. Additional weakness on
Thursday would confirm today's bearish reversal pattern thereby
increasing the odds that a short-term top has likely been posted.
Momentum indicators are overbought and turning neutral to bearish
warning traders that a short-term top might be in or near.

SOYBEAN COMPLEX http://quotes.ino.com/exchanges/?c=grains

March soybeans broke out above this fall's downtrend line crossing at
4.37 on Wednesday as weather forecasts for Southern Brazil remain hot
and dry. Today's breakout confirmed that a seasonal bottom was posted
last Wednesday. I am looking for sideways to higher prices into the
later part of January barring a major bearish surprise in Friday's
USDA reports. Thursday's export sales report is expected to be solid
showing that world demand for U.S. soybeans remains strong. Momentum
indicators are bullish signaling that additional gains are possible
near-term.

March soybean meal closed sharply higher on Wednesday thereby
confirming yesterday's breakout and above this fall's downtrend line.
Wednesday's high fell just short of testing initial fib resistance
crossing at 150. I would not be surprised to see this resistance
level tested on Thursday but I am looking for a steady to lower close
ahead of Friday's USDA report. Momentum indicators have turned
bullish signaling that additional strength is possible for the
balance of January.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

February hogs closed lower on Wednesday thereby confirming
yesterday's key reversal down. The door is open for additional
weakness with December's gap crossing at 53.22 being the next likely
downside target later this month. Pressure from the Goldman roll and
sharply lower belly prices weighed on February futures. Additional
pressure came from lower cash bids. Momentum indicators are bearish
signaling that sideways to lower prices are possible into the later
part of January.

February cattle posted a key reversal up on Wednesday falling just
short of testing key resistance crossing at 71.35. Light profit
taking ahead of the close tempered some of today's gains leaving the
door open for sideways trading on Thursday. Today's rally was
triggered by higher boxed beef prices and along with expectations for
tighter spring cattle supplies. Stochastics and the RSI have turned
neutral with today's strength while the ADX is moving into position
to confirm the resumption of last fall's rally.

FOOD & FIBER http://quotes.ino.com/exchanges/?c=food

March coffee gapped up and closed above trading range resistance
crossing at 50 cents on Wednesday. Fund buying was the driving factor
behind today's rally as the door is open for additional short
covering gains later this month. Wednesday's high-range close leaves
the door open for follow-through buying on Thursday as the door has
been opened for a likely test of November's high crossing at 53.00
cents later this winter.

March cocoa posted an upside reversal on Wednesday after session lows
fell just short of testing broken resistance crossing at 1365.
Additional strength on Thursday along with closes above this week's
high at 1415 are needed to confirm the recent breakout above this
fall's trading range. If the rally resumes, weekly resistance
crossing at 1422, then monthly resistance crossing at 1508 are
potential targets later this winter.

March sugar gapped up and closed sharply higher on Wednesday as it
tested last August's reaction high crossing at 804. March sugar has
rallied into Thursday's time turn as momentum indicators have become
overbought hinting that a short-term top might be near. If Thursday's
time turn proves to be an acceleration in the uptrend, fib resistance
crossing at 830 is March's next target.

March cotton posted an inside day with a lower close due to light
profit taking ahead of Thursday's weekly export sales report on
Wednesday. Traders remembered last week's disappoint sales report and
appears to be a little gun shy going into Thursday's report.
Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible. If Thursday's export sales report proves to be
neutral to friendly, March could try and test November's high at
39.80 ahead of Friday's USDA report.

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I N O   N E W S
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NFA to provide regulatory services for Island Futures Exchange, LLC
   http://news.ino.com/press/?release=27694
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____________________________________________________________________________

E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/

WINNERS

KCH2   Coffee 'C' Mar 2002                         50.85      2.35  +4.84
AGM2   Silver 1,000 oz. Jun 2002                   4.610     0.169  +3.83
GCZ3   Gold Dec 2003                               292.5      10.7  +3.79
SMF2   Soybean Meal Jan 2002                       153.3       3.9  +2.61
SBH2   Sugar #11 World Mar 2002                     8.03      0.20  +2.56
XEH2   Soybean Meal Mar 2002                       148.9       3.5  +2.41
OJN2   Orange Juice Froz. Conc. #1 Jul 2002        92.85      2.10  +2.29
SIH3   Silver Mar 2003                             4.702     0.099  +2.13
HGU2   Copper Sep 2002                            0.7315    0.0135  +1.86
LBN2   Random Length Lumber Jul 2002              274.50      4.50  +1.67

LOSERS

HOJ2   Heating Oil Apr 2002                       0.5469   -0.0296  -5.16
CLG2   Light Sweet Crude Oil Feb 2002              20.18     -1.02  -4.80
HUG2   New York Harbor Unleaded Gasoline Feb 20    0.5806   -0.0289  -4.74
PNH2   Propane Mar 2002                           0.2875   -0.0125  -4.17
OH2    Oats Mar 2002                             195 3/4        -8  -3.93
PBG2   Frozen Pork Bellies Feb 2002               74.800    -3.000  -3.86
QLX2   Central Appalachian Coal Nov 2002           27.25     -1.00  -3.54
NGQ2   Henry Hub Natural Gas Aug 2002              2.517    -0.080  -3.13
GIF2   Goldman Sachs Commodity Index Jan 2002     169.75     -4.70  -2.69
OJF2   Orange Juice Froz. Conc. #1 Jan 2002        91.25     -2.25  -2.41

FREE: Vantagepoint Market Software Reports
Predict The Markets With Up To 80% Accuracy
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E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

SNIC   SONIC SOLUTIONS                            7.9550    2.2700  +40.61
MRAE   MIRAE CORP ADS                             5.2000    1.5000  +37.04
TASRW  TASER INTERNATIONAL WTS 5/06               8.9200    2.2500  +33.28
IOMT   ISOMET CORP                                6.7000    1.3200  +25.14
TASR   TASER INTERNATIONAL                       17.7500    3.1500  +21.58
SMMX   SYMYX TECHNOLOGIES                        26.7500    4.2500  +19.02
TMN    TRANSMEDIA NETWORK INC                       5.15      0.79  +17.56
SGMO   SANGAMO BIOSCIENCES                       10.2000    1.4600  +16.11
EPNY   E.PIPHANY INC                              9.9100    1.3400  +15.95
UAXS   UNIVERSAL ACCESS GLOBAL HLDGS              5.3500    0.7100  +15.33

LOSERS

BREL   BIORELIANCE CORP                          22.0800  -10.4700  -31.95
CVST   COVISTA COMM INC                           6.3590   -2.2100  -27.97
BCGI   BOSTON COMMUNICATIONS GRP                  7.6300   -2.0800  -21.44
JCBSG  JACOBSON STORES INC 6.75% DEB              9.0000   -3.0000  -18.75
AV     AVAYA INC                                   10.35     -2.12  -17.00
IMCO   IMPCO TECHNOLOGIES                        12.4100   -2.4307  -16.29
INFA   INFORMATICA CORP                          11.3700   -1.8800  -14.20
BYBI   BACK YARD BURGERS                          6.3700   -1.0200  -13.92
DTHK   DIGITALTHINK INC                           9.3000   -1.5000  -13.72
IMCL   IMCLONE SYSTEMS                           31.8500   -4.9400  -13.41
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T H A N K   Y O U
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Notice  No. 01-394
November 27, 2001

TO:		All NYMEX and COMEX Division Members
		All NYMEX and COMEX Division Clearing Members
		All NYMEX and COMEX Division Member Firms

FROM:	Michael Campanelli, Vice President
		Floor Operations, COMEX Division

RE:		Exchange Changes Termination Date for the FTSE Eurotop 100

and 300
 Futures Contracts

The Exchange announced today that it would change the expiration of its FTSE
Eurotop 100
 and 300
 December 2001 futures contracts to 11:00 A.M. on
Thursday, December 20, from 7:00 A.M., Friday, December 21, due to the
abbreviated trading hours. Final settlement prices will still be determined
and announced on the morning of Friday, December 21.


---------------------- Forwarded by Chris Germany/HOU/ECT on 06/23/2000 03:06
PM ---------------------------

Chris Germany
06/23/2000 02:35 PM
To: Beverly Beaty/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Victoria
Versen/HOU/ECT@ECT, Molly Johnson/HOU/ECT@ECT, Alvin
Thompson/Corp/Enron@Enron, Angie Zeman/Corp/Enron@ENRON, Cindy
Vachuska/HOU/ECT@ECT, Clarissa Garcia/HOU/ECT@ECT,
pvillag@columbiaenergy.com, Scott Goodell/Corp/Enron@ENRON, Judy
Townsend/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Robin
Barbe/HOU/ECT@ECT, Maureen Smith/HOU/ECT@ECT, Scott Hendrickson/HOU/ECT@ECT,
Sarah Mulholland/HOU/ECT@ECT, Brenda H Fletcher/HOU/ECT@ECT, Alicia
Perkins/HOU/ECT@ECT, Crystal Hyde/HOU/ECT@ECT, David Oliver/HOU/ECT@ECT,
Scott Neal/HOU/ECT@ECT
cc:
Subject: New and Exciting National Fuel Deal

We have a new Park & Loan / Storage deal on National Fuel effective
6/23/2000.  National Fuel transferred 1,000,000 dth from our parking contract
to our brand new firm storage contract.  We are now long FSS and short PALS.

FSS
 We have the rights to withdraw on a firm basis up to 33,333 dth per day.
However, we need to call and get permission to withdraw more than 33,333 dth
on any given day.  Also, the withdrawal takes place at an interconnect, like
Trco-Leidy.  We do not have to ship the gas on Nat Fuel.

IAS
We give Nat Fuel the gas back on an IT basis via our IAS agreement (Nat Fuel
is still setting up the contracts).  We can give Nat Fuel the gas back at any
point we wish.  We do not have to pay back the gas at the same point we
withdraw on the FSS.  And we can pay back the gas before we withdraw it.

COST
What we will probably do most of the time is take the FSS into Trco at Leidy
and payback the IAS agreement at Niagara and Leidy.  ENA will pay Nat Fuel
1,000,000 dth x ($.125 / 3 months) or $41,666.67 per month for June, July,
and August.  This deal is over on Aug 31st.  I just entered the demand charge
on my Market East demand charge sheet.  I do not have any deals set up in
Sitara.  I need to see the contracts from Nat Fuel first.  I will keep track
of the balances on an Excel worksheet.  All commodity cost and fuel is
capured in the $.125 demand charge.  Beavy and I will make sure the payback
and withdrawal tickets are balanced in Sitara once we start flowing gas on
this deal.  If we payback 60,000 dth next week and we do not have any
withdrawals, then I will show a 60,000 dth withdrawal on 8/31/2000 just to
keep the tickets balanced.

Payback Techniques
Under the expert eye of the wonderfull, superfantastic, all-around great guy,
Dick Jenkins, I've come up with some options on paying back the gas.

Niagara - only works when Niagara is open.  Nat Fuel has been very close to
capacity this week.  However, we should always see what Martin can do with
the gas if it gets backed up into TCPL.  OR if Niagara is constrained, we can
ship the gas on our firm Nat Fuel contract then pay it back to Nat Fuel, at
today's prices that cost about $.105

Wadd - take our Tenn Z6 length into CNG via Iroq, ship it to Trco- Leidy, and
payback the gas at Leidy.  At today's prices, that cost about  $.055,
assuming we get to roll over all of our CNG fuel waivers.

Tenn -   we just need to see what type of IT rate Dan can get to ship the
Gulf to Tenn Z4 (Ellisburgh).  We can also move the Dracutt to Nat Fuel on
segmented capacity for $.145 or  move Wright to Nat Fuel for $.11.  We cannot
use the Net 284 contract on any of the Tenn / Nat Fuel interconnects.

Let me know if you have any questons.


when are you leaving?


Tana,

Can you please put together a Fee Agreement and BETA for the following

APB Energy - Europe
Chris Edmonds
9931 Corporate Campus Drive
Suite 2400
Louisville, Kentucky   40223

$200,000

UK Gas and Power
European Gas and Power

Bob Shults
EnronOnline LLC
Houston, Texas 77002-7361
713 853-0397
713 825-6372 cell
713 646-2126
bob.shults@enron.com


Team,

I've started on this week's action items and have built some pro-forma models
for 1996 financial statements that should help in writing the memo.  Feel free
to look at what I've done.  As you can see the memo still needs to be written
and I didn't complete the final 2 questions.

Let's talk.

**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax

____________________Reply Separator____________________
Subject:    Re: E234 Course Materials
Author: Jeff.Dasovich@enron.com
Date:       01/24/2001 5:15 PM

thanks very much.
 - Clarkson.xlw
 - CaseQuestions.doc