Michael - I pulled this out of one of the memos I just forwarded to you.  Let me know if you have questions.

The next phase of control (or lowering in the total amount of allowances in the cap) for the OTR Trading Program goes into effect in 2003.  Despite the delays in the broader NOx SIP Call process, the OTR states have filed their SIPs targeted to start in 2003 that include the standard provisions of the SIP call structure.  One of those provisions is that allowances banked from Phase II (the current OTR Program) can only move into Phase III (2003) via the compliance supplement pools (CSP).  The total compliance supplement pool for the OTR is only about 25,000 tons.

At the current pace of banking, we could have 80,000 to 100,000 tons of allowances in the bank by the end of 2002.  These would be discounted or prorated by the states to the CSP level to move into 2003.  Nominally then, allowances left at the end of 2002 would be discounted by as much as 4 to 1 moving into 2003.

There is another twist, however.  The 1999 vintage allowances are not allowed to move into 2003 at all.  They will expire at the end of 2002.  There are probably about 35,000 1999 vintage allowances in the system.  That leaves about 50,000 to 70,000 allowances left to move into 2003 - still a 2 or 3 to 1 discount factor.  Those allowances in the CSP probably will not be subject to flow control in 2003, though flow control is likely to come in to play in 2004.

Finally, in order to be in the compliance supplement pool, allowances must be in compliance accounts.  So traders like Enron will either need to sell all of their inventory at the end of 2002 or find a place to park it in a compliance account in order allow the allowances to pass through to 2003.  Since the prorating is done on a state-by-state basis, where the allowances are parked will be important as well.

The value of these banked allowances obviously depends on the value of allowances in 2003.  The OTR is relatively clean and will not require major new investment to meet its 2003 emission cap.  Thus, the 2003 price for the OTR NOx allowances may not be as high as the $4000/ton that people are currently paying.  If it's only $2000 to $3000/ton then the discounted value of today's allowances is probably less than $1000 - maybe a lot less.

Bringing all of this together:  At the end of 2002 there will be a large bank of allowances.  Some of them will expire with zero value at the end of 2002 if not used.  The remainder must be parked in the right place to avoid expiration.  Even then they will be heavily discounted going forward.  The allowance price in 2003 is likely to be relatively low.

Mary Schoen
Environmental Strategies
Enron Corp
415.782.7803 (phone)
415.782.7854 (fax)

 -----Original Message-----
From: 	Taylor, Michael E
Sent:	Monday, October 15, 2001 12:57 PM
To:	Schoen, Mary
Subject:	NOx OTR to SIP CALL

Mary,

How will OTR allowances roll into the NOx SIP CALL program?

Thanks,
Michael Taylor
Coal and Emissions Trading
Enron Global Markets
(713) 853-1885


Prior to 7/99  this was ENA not HPL, but there may be some issues on it as well for 3/99 to 6/99.  The deal ticket we used was 62717.  I will have to look further into the ENA activity because I know we still have some invoices that were paid under one company and we still have drafts under the other.

 -----Original Message-----
From: 	Farmer, Daren J.
Sent:	Thursday, November 15, 2001 10:42 AM
To:	Schumack, Sherlyn
Subject:	RE: Deal 93836

This ticket starts with 7/99 production.  How were all of the other months paid?

D

 -----Original Message-----
From: 	Schumack, Sherlyn
Sent:	Thursday, November 15, 2001 10:32 AM
To:	Farmer, Daren J.
Subject:	Deal 93836

Daren,

I am trying to get some payments out to Williams for old months 11/2000 and 1/2001 but global counterparty said this deal should have Black Marlin Pipeline Company Inc. instead of Black Marlin Pipeline Company effective 3/99.  The Black Marlin Pipeline Company was for an internal record (when it was an Enron entity).


Paul:
This looks fine.
Carol

	Paul Radous@ENRON
	06/14/2000 01:53 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Atlantic Packaging

Carol,

I have attached your draft letter, with changes highlighted.  Please
review/modify as appropriate.  Thanks.


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Hi there!

Sounds like things are going really well.

Neil is working tomorrow (his turn), then we have a wedding to go to Saturday
night. Paige isn't coming in until Sunday, leaving Tuesday or Wednesday.
She's visiting friends in Waco.  You know how it goes with juniors. So, it
doesn't look good for us to  make it to Palacios this weekend.  How long are
you going to be there?

Gotta get on the phone.

Love,

Kay

Bill and Rita McCall <bmccall@wcnet.net> on 10/13/2000 01:14:59 PM
To: Kay.Mann@enron.com
cc:

Subject: Palacios calling

Hi Kay Kay. Hope you have had a good week. The weather is wonderful,big
black drums,26 inch red fish,keeper flounder and one keeper trout.Ham
sandwiches and not a very clean house but would love for you to come down
this week-end if you have any free time. Daddy did not call Neil with the
fishing report because his hooks did catch fish. He was to call if he
didn't catch fish. Does Paige go back to school Sunday? Love to see all of
you,Mother


Done.  I was waiting for the EOL team to get in a new Password Application and no one told me they got it in.  I just went in and approved them.
 -----Original Message-----
From: 	Gray, Mary Griff
Sent:	Tuesday, October 02, 2001 8:07 AM
To:	Jones, Tana
Subject:	Commonwealth Energy

Miss Tana ---
What's the ETA on this app?
Thanks,
Griff


I just entered a deal in Sitara (deal 399824).  This is a sale to Transco at
St 65, 50,000/day on the 18th - 30th.  I also entered a transport usage deal
399826 for 50,000/day starting on the 18th.  This deal captures the commodity
cost to go from our St 65 pool to the SIMS pool.

Comments/Questions?


Daren,

FYI.

Bob

---------------------- Forwarded by Robert Cotten/HOU/ECT on 09/27/2000 12:04
PM ---------------------------

Vance L Taylor
09/27/2000 11:02 AM
To: Robert Cotten/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT
Subject: Re: October, 2000 Deals Missing

Bob,

Please see responses highlighted in red text.

Thanks,

vlt
x3-6353

	Enron North America Corp.

	From:  Robert Cotten                           09/26/2000 05:56 PM

To: Vance L Taylor/HOU/ECT@ECT
cc:
Subject: October, 2000 Deals Missing

Vance,

The following deals are missing for October, 2000:

Counterparty Name  Meter #  Nomination Type of Purchase  Status

Camden Resources  9858  3,000  Firm    This is a new package of gas;
production is not on-line
Cokinos Natural Gas  9840  2,500  Firm    This is a new package of gas;
production is not on-line
Cross-Tex Energy  9843     315  Firm    This is a new package of gas;
production is not on-line
CrossTech Energy  6519         2  Firm    Should Darren monitor; currently
not an HPLC purchase
D.W. Pickett   9737         5  n/a    K terminated effective 10/1/00
Duke Energy   6347    139  Spot    Will submit request for spot ticket
Engage Energy   5848    208  Spot    Will submit request for spot ticket
Engage Energy   5923    779  Spot    Will submit request for spot ticket
EOG    9645      63  Firm    formerly Aransas Drilling; has evergreen status
(flip flag)
Heatherloch   6879   544  Single Trans Firm  Should Darren monitor; currently
not an HPLC purchase
Cummins & Walker Oil Co. 9857   500  Firm    This is a new package of gas;
production is not on-line
McBee Operating  6210              7,713  Firm    Has evergreen status; need
to "flip flag"
North Central   5228              3,000  Firm    This is a new package of
gas; production is not on-line
Onyx Gathering   9673       1  n/a    K terminated effective 10/1/00
Pringle Resources  9849       1  Firm    This is a new package of gas; will
submit one month ticket
Shoreline Gas   6691    10  n/a    K terminated effective 10/1/00
Swift Energy   2630  322  Spot    Will submit request for spot ticket
Tri-Union   2697  700  Firm    This is a new package of gas; production is
not on-line
Vintage Gas   9603  300  Spot    Will submit request for spot ticket
White Oak   4251    96  Firm    Formerly the Lamay Corp.
Whiting Petroleum  6523  100  Spot    Will submit request for spot ticket

Please advise.  Thanks.

Bob


When did you get all responsible and shit?  Sign me up for $25


Martha Ragsdale
1425 SE 24th Ave 305
Portland OR, OR 97214
MRagsdal@aol.com

To Mr. Ken Lay,

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

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

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

Sincerely,

Martha Ragsdale


ok here it is

settle was 3.22 and the offer is + 0.20

 -----Original Message-----
From: 	Little, Kelli
Sent:	Friday, September 21, 2001 10:48 AM
To:	Quigley, Dutch
Subject:	Notional Quote Request

Dutch,

I've attached a spreadsheet which lists volumes for a prepay with the Municipal Gas Authority of Georgia (originator is Gil Muhl).  The volumes are not ratable over time, so I thought it might be easier for you to cut and paste the schedule into your model.  The term is November 1, 2001 - October 31, 2006.  The average daily volume is around 78,000 mmBtu/day.

I'm looking for your notional offer - This won't close until Q4.  Please call me if you have any questions - thanks for your help!

Kelli
x5-3419

 << File: MGAG Nymex Volumes.xls >>


David:

Thanks for the note.

I think you have captured the questions. As to question 1, however, I would
add that we are interested in an answer relating to on-line as well as phone
trades.

Mark, do you have anything to add?

We are looking forward to receiving your draft memo by the end of next week.
I'll be in Japan next week, so if you have any questions, please foolow-up
with Mark.

Thanks, Alan

	GILBERGD@sullcrom.com
	07/21/2000 12:52 PM

		 To: alan.aronowitz@enron.com, mark.taylor@enron.com
		 cc: LINDAUERE@sullcrom.com
		 Subject: Electronic Signatures

As we discussed, the following summarizes my understanding of the issues you
would like us to analyze and address in a memo (recognizing that some of
these issues cannot be definitively resolved at this point):

1.  After 10/1/00 -- Can Enron dispense with confirms completely, regardless
of whether there is a master agreement in place with the counterparty, and
instead advise counterparties of executed transactions through some type of
notice (or perhaps just through a daily transaction summary) delivered
through EOL?  If so, what (if anything) needs to be done to make this
procedure effective (e.g., amendments to electronic trading agreement)?

2.  Before 10/1 -- Can Enron dispense with confirms if the applicable master
agreement permits, or if there is no master, and provide notices through EOL
in the manner described above?  What are the risks of relying on clicks
evidencing a counterparty's transactions prior to the effectiveness of the
legislation?

3.  When dealing with a non-US counterparty, what (in general terms) is the
risk of following the procedures described above and not sending confirms?
In other words, if the counterparty is in a jurisdiction that does not
recognize electronic signatures as binding, is there a meaningful risk that
the counterparty will be able to avoid transactions (recognizing that this
question cannot be answered definitively without advice from local counsel
and that we will only be able to provide general observations)?  How does the
analysis change if the counterparty has signed a master agreement governed by
NY law?

4.  Are confirms required for physical transactions, pursuant to Article 2 of
the UCC?  If so, must they meet any specific requirements?

5.  Miscellaneous other issues -- Can tapes of phone trades suffice as
electronic signatures under the federal legislation?  Is it sufficient for
one party to have the ability to store and retrieve records of the
transaction if the other party does not?

Please let me know if your understanding of the questions to be addressed
differs from the foregoing.  Thanks.

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

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


I'm not sure what this e-mail is in reference to.


Attached is the information you requested regarding American Military
Univeristy. If your e-mail package cannot handle attachements click
http://www.amunet.edu/AMUv2/Content/Global/downloads.asp to view forms. If
you are asked for a password when trying to view a form, click cancel and the
document will continue to load.
 - ReqTranscriptSentAMU.doc


This week's Lite Bytz presentation will feature the following APPZ speaker:

Hal Elrod
CommodityLogic
Thursday, April 26, 2001

If you have not already signed up, please RSVP via email to
litebytz@enron.com by the end of the day Tuesday, April 24, 2001.

*Remember: this is now a Brown Bag Event--so bring your lunch and we will
provide

http://home.enron.com:84/messaging/revisedhalelrod.ppt


Ted,

Take a look.

Vince


djunek@aeglobalmarkets.com

I chat with him via aol instant messenger.  His id there is djunek13.

He's not in the office today.

your msn doesn't work.


Sarah,
I'll still remain on the RRG and other lists even if I get off this one,
right?  Or is this the new official list.....
Thanks
Margie

----- Original Message -----
From: "Sarah Dennison-Leonard" <sdleonard@EARTHLINK.NET>
To: <RRGA-L@LIST.RTOWEST.ORG>
Sent: Tuesday, May 15, 2001 6:29 PM

> To get off the list, please send an e-mail to: LISTSERV@LIST.RTOWEST.ORG
and
> in the subject line, please put "SIGNOFF RRGA-L"
>
> Thank you!
>
> - Sarah
>
> ----- Original Message -----
> From: "Pyburn, Jack R." <jack.pyburn@MIRANT.COM>
> To: <RRGA-L@LIST.RTOWEST.ORG>
> Sent: Tuesday, May 15, 2001 5:11 PM
>
>
> > I'm not sure how I got on this list, but I'd like to be deleted.
Thanks!
> >
> > Jack Pyburn, Jr.
> > Mirant Americas Energy Marketing, LP
> > 1155 Perimeter Center West
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> > Sent: Tuesday, May 15, 2001 7:40 PM
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Attached is the worksheet for the external ISDA, not any RMT ISDA, to be
drafted and sent for review to Juniper.

thanks
brant

---------------------- Forwarded by Brant Reves/HOU/ECT on 12/12/2000 12:05
PM ---------------------------

Brant Reves
12/07/2000 03:29 PM
To: Susan Bailey/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Tana
Jones/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron
cc: Patrick Johnson/HOU/ECT@ECT
Subject: Juniper RMT

Please prepare a draft contract per the attached credit terms and forward to
Patrick Johnson for distribution.

thanks
brant

---------------------- Forwarded by Brant Reves/HOU/ECT on 12/07/2000 03:22
PM ---------------------------

Brant Reves
12/06/2000 11:30 AM
To: Susan Bailey/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Tana
Jones/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron
cc:
Subject: Juniper RMT

Please prepare a RMT ISDA agreement between ENA and Juniper Energy L.P. and
forward executable copies to Les Clark

your contact on this is Patrick Johnson, 3-9453

thanks for your help
brant


One other argument we could make:  according to the traders, the gas market
is very liquid.  Because the gas market is very liquid, generators will sell
their gas and turn off their units.  So the ISO will create a reliability
problem.

From: James D Steffes@ENRON on 10/27/2000 11:09 AM CDT
To: dwatkiss@bracepatt.com, dexickson@mwe.com, Joe Hartsoe/Corp/Enron@ENRON,
Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mary
Hain/HOU/ECT@ECT, Susan J Mara/SFO/EES@EES, Jeff Dasovich/NA/Enron@Enron
cc:
Subject: Pleading to Stop ISO

Here is the outline of some points to make in the filing today.


Theresa works for Mark in the Denver office.  She used to work with Liz.

---------------------- Forwarded by Joan Quick/HOU/ECT on 10/03/2000 09:34 AM
---------------------------

Theresa Staab@ENRON
10/03/2000 09:09 AM
To: Mark Whitt/NA/Enron@Enron
cc: Paul T Lucci/NA/Enron@Enron, Nicole Cortez/NA/Enron@Enron, Steven P
South/HOU/ECT@ECT, Jacqueline P Adams/HOU/ECT@ECT, Stacey J
Brewer/HOU/ECT@ECT, Joan Quick/HOU/ECT@ECT
Subject: Crescendo Noms on NWPL

Mark,

I spoke to Liz Orr this morning regarding the status of nominating the
Crescendo gas on NWPL.  Due to a couple of the interconnects constrained into
NWPL due to high hydrocarbons there is only one delivery point available to
flow into NWPL (Foundation Creek).  They are holding space for actual
producers behind Foundation Creek to flow into NWPL and the remaining 40% of
capacity for the other producers.  Cresendo's pro-rata share into NWPL would
be 1,000 MMbtu/day.  Interruptible transport is flowing into NWPL.

Liz also said they are very close to having the Grand Valley point back in
spec for quality which will increase our flow into NWPL up to 2,000
MMBtu/day.  She's hopeful for the end of the week for this increase.

The meter number on NWPL for Foundation Creek is Map Pt. 56 (meter 48010 on
Wildhorse).

We will be trying 1,000 for tomorrow's gas day into NWPL and will keep
everyone informed when we can increase to 2,000.

Please call me with any questions at (303) 575-6485.

Thanks,
Theresa


beef and bird is on wilcrest - right?

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 11/10/2000 09:45:37 AM
To: eric preston bass <Eric.Bass@enron.com>
cc:
Subject:

Hi Son. Mother found another box of ski clothes  including her white ski
outfit and a couple of others.  Next time you are here,  have Shana look. See
you this p.m.-Dad


Starting next Wednesday you have EB30C2 for your Fundies Meeting from 3:00 PM to 4:30 PM

-Ina


237-2337

 -----Original Message-----
From: 	Shulklapper, Ken
Sent:	Tuesday, October 23, 2001 11:03 AM
To:	Cuilla, Martin
Subject:	What is Jame's work #?

What is Jame's work #?

Kenneth M. Shulklapper
Logistical Risk Management
Enron Freight Markets
(713) 853-7009 (phone)
(713) 646-3446 (fax)


- Morons1.gif


Enron Methanol nominates the following natural gas requirements for the
Methanol Plant for April 2001:

30,000 mmbtu per day

EGPFC nominates the following natural gas requirements for the MTBE Plant at
Morgan's Point for April 2001:

8,500 mmbtu per day


Your review and approval of the following product types in the EOL Data manager is needed (for directions on approval, please see steps for approval at the bottom of this e-mail). If you have any questions please call me at ext. 39555 or Chris Walker at ext. 37533
******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM - 11AM***********

Lawyer:  John Viverito (Mark, John already approved Long Description)
Product Type(s):
US LLDPE Phy
US LLDPE Phy Hexene Hou  c/LB
US LLDPE Phy  Butene Hou  c/LB

US HDPE Phy
US HDPE Phy  Inject8MI Hou   c/LB
US HDPE Phy  Inject20MI Hou  c/LB
US HDPE Phy  HMW0.04MI Hou   c/LB
US PPHP Phy
US PP-HP Phy  3MFR Hou   c/LB
US PP-HP Phy  17MFR Hou c/LB
US PP-HP Phy  Inject20MFRHou c/LB
US PP-HP Phy  Inject35MFRHou c/LB

Trader(s):   Alan Engberg

GTC: Enron Petrochemicals Company, Inc., a division of Enron Liquids Fuels, Inc.

Description(s):

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

STEPS FOR APPROVAL:

click the 	START button
select 	PROGRAMS
select 	TEST APPLICATIONS
select	ENRONONLINE CLUSTER(PROD)
	PROCEED WITH USUAL LOGIN/PASSWORD
click the	Enron Online Production Cluster "START" button
select	EnronOnline (this is the EOL Datamanager)
	PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnline
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE:  Right mouse click on "Approved"


__________________

Please plan to attend the HR Meeting on Tuesday, May 16th in conference room
560 from 3:00 - 5:00 p.m. Please call if you have any questions.

Thank you

Bobbie


Dan,

The company is Reliant Energy (wholesale trading group) at this point and the
fuel is handled the same as the 30,000/d deal that you wrote up. (See
attached)

thanks,


The new draft date is 8/20 by overwhelming majority.  Stay tuned for further
details.


If you are all still in town - Matt and I were thinking of going to Happy
Hour tomorrow after work.  Let me know if you are in.


I just now got a  reply that the email address Steve gave me does not work.
I keep getting the mail returned.  I am usingDFSWTL@swbell.net.  Could you
double check this with Steve for me?  Thanks.

TGBOLDIG@aol.com on 05/22/2001 05:42:37 PM
To: <cegann@dow.com>, <Stanley.Horton@enron.com>
cc:

Subject: Golf Thursday

We have a 9:00 tee time Old Course

Tom


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 08/25/2000
11:44 AM ---------------------------

val.generes@ac.com on 08/25/2000 07:29:24 AM
To: SoCalCinephile@socal.rr.com, brkaty@aol.com, scott_bateman@qbsol.com,
Timothy_Blanchard@enron.com, bcambr@lsumc.edu, bcannizaro@shellus.com,
cgener1@lsu.edu, nicholas.danna@ey.com, tdietz@allstate.com,
julie_ferguson@gensler.com, agenere@lsu.edu, Lisa.Gillette@enron.com,
Cherie.Gravois@pbrc.edu, greggremillion@hotmail.com, bholladay@trinityno.com,
Hurl007@aol.com, jgener1@lsu.edu, kcelestej@ev1.net, Chad.Landry@enron.com,
Matthew.Lenhart@enron.com, leemac007@yahoo.com, MMMarcantel@equiva.com,
AirPhotoDave@aol.com, Fiji4x4@aol.com, jpelti@lsumc.edu, samm@dynegy.com,
Staehl@aol.com, "DARRAH, SHAWN" <sdarrah@entergy.com>, "Engelhardt, Todd W."
<twengelhardt@walkhaydel.com>, "Mayfield, Jennifer D."
<JenniferMayfield@associates.PZLQS.com>, "Amy Fontana"
<amyfontana@centurytel.net>, "ashley daniels" <ashleydaniels7@hotmail.com>,
"CS duplantis" <csdixie45@hotmail.com>, cwhitney <cwhitney@eatel.net>,
Heather Devall <hdevall@regents.state.la.us>, "John D. Dawes"
<jddawes@bellsouth.net>, "Jim Jeffery" <jjeffery@centurytel.net>, "julie
crouch" <julescrouch@hotmail.com>, Jim Maziarz <maziarz@bellsouth.net>, Ross
Berthelot <rberth@eatel.net>, stuart hartman <shartman20@hotmail.com>, Bonita
Picou <staschco@st-theresa.com>, shawn.wharton@ac.com,
monica.m.andrade@ac.com, brian.r.vassigh@ac.com, katia.carreno@ac.com
cc:

Subject: Interesting facts, Hmmmm

If you yelled for 8 years, 7 months and 6 days, you would
have produced enough sound energy to heat one cup of coffee.
(Hardly seems worth it)

If you fart consistently for 6 years and 9 months, enough
gas is produced to create the energy of an atomic bomb.
(Now that's more like it)

A pig's orgasm lasts for 30 minutes. (In my next life I want
to be a pig) (How'd they figure this out, and why?)

Banging your head against a wall uses 150 calories an hour.
(Still can't get over that pig thing)
(Don't try this at home...maybe at work?)

Humans and dolphins are the only species that have sex for
pleasure.  (Is that why Flipper was always smiling?)
(And pigs get 30-minute orgasms? Doesn't seem fair)

The strongest muscle in the body is the tongue.
(Hmmmmmmmmm........)

Right-handed people live, on average, nine years longer than
left-handed people do.
(If you're ambidextrous do you split the difference?)

The ant can lift 50 times its own weight, can pull 30 times
its own weight and always falls over on its right side when
intoxicated.
(From drinking little bottles of...?)
(Did taxpayers pay for this research??)

Polar bears are left handed.
(Who knew....? Who cares? How'd they find out, did they
ask them?)

The catfish has over 27,000 taste buds.
(What can be so tasty on the bottom of the pond?)

The flea can jump 350 times its body length. It's like a
human jumping the length of a football field.
(30 minutes...can you imagine?? And why pigs?)

A cockroach will live nine days without it's head, before
it starves to death.
(Creepy)

The male praying mantis cannot copulate while its head is
attached to its body. The female initiates sex by ripping
the male's head off.
(Honey, I'm home. What the....)
(Well, at least pigs get a break there...)

Some lions mate over 50 times a day.
(In my next life I still want to be a pig ... quality over
quantity)

Butterflies taste with their feet.
(Oh, Geez)  (That's almost as bad as catfish)

An ostrich's eye is bigger than it's brain.
(I know some people like that.)

Starfish don't have brains.
(I know some people like that too.)

After reading all these, all I can say is.............
Lucky Pigs...


what - you can't tell me this over the phone - so you have to write a chicken
shit e-mail. what's that about?

Shanna Husser@ENRON
03/10/2000 01:53 PM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject:

OK- that is it- you either best be in a DAMN good mood by the time you get to
my place-   OR  I don't know- I'm going to be pissed.  I want to enjoy our
time together- not fight about you being crabby.  You didn't warn me that you
were so moody- you ARE like a woman.  And try not to be such a big mouth from
here on out.  You make me feel like I can't tell you what I really think- b/c
it will get back to Tim (in other words- all the FIJIS)- I hope that you
aren't naive enough to think that isn't how it works with them.

SH


I would recommend floor meetings on 37 (we occupy almost the entire floor)
and on the operations end of floor 32.  That would cover everyone pretty
well.  Thanks. --Sally

From: Peggy McCurley/ENRON@enronXgate on 04/09/2001 05:01 PM
To: Sally Beck/HOU/ECT@ECT
cc: Greg Piper/ENRON@enronXgate
Subject: RE: Suggestions for Floor Meeting Locations

Hi Sally -

Taking care of Philippe's emails while he's out.  Are there one or two floors
that are occupied fully by your groups?  Please tell me the floors (probably
two) where you would like the meetings and I will call Patti to coordinate
your availability to attend.  I'll then send an email to your people
notifying them of such.

Thanks,

Peggy

 -----Original Message-----
From:  Beck, Sally
Sent: Monday, April 09, 2001 11:54 AM
To: Philippe A Bibi/HOU/ECT@ENRON; Piper, Greg
Subject: Suggestions for Floor Meeting Locations

The floors chosen for these meetings appear to be geared to the IT teams.
Between my operations teams dedicated to EA, EGM and EIM, I have roughly 500
employees in the Enron building.  Do you want all of them to choose one of
the floors noted in your e-mail message, or would it be better to schedule
one or two floor meetings in locations that more easily incorporate this
segment of Net Works?  I have noted below the approximate number of employees
per floor (including only those floors with a significant number of
operations employees):

  29th Floor (trading) 67 employees  EGM risk, vol. mgmt., confirms,
settlements and EIM risk

  30th Floor (trading) 35 employees  EGM risk, confirms, settlements (various
products)

  31st Floor (trading) 52  employees  Power risk, confirms, vol. mgnt.,
settlements and DPR           and MPR teams

  32nd Floor (trading) 117 employees  Gas risk, logistics (all regions),
operational analysis

  37th Floor   148 employees  Gas vol. mgmt., settlements, and global
services
Also, given the fact that operations is a relative "newcomer" to Enron
Networks and yet represents a large number of employees in the group, I would
be happy to work with you on remarks for all of the floor meetings to make it
easier for you to be fully inclusive in these sessions.   --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 04/09/2001 10:30 AM
---------------------------
   Office of the Chairman - Enron Net Works LLC

From: Office of the Chairman - Enron Net Works LLC@ENRON on 04/09/2001 10:13
AM
Sent by: Enron Announcements@ENRON
To: ENW-Employees_Houston
cc:
Subject: Net Works Floor Meetings - DATES AND LOCATIONS HAVE CHANGED PLEASE
READ

We will be holding floor meetings on the following dates.  Please join us for
a general overview and Q&A session on one of the following floors:

Tuesday, 4/17/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2711

Wednesday, 4/25/01 - 2:00 - 3:00 p.m. Location:  In front of EB2265

Thursday, 4/26/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2556

Philippe & Greg

Please disregard the email sent on 4/6/01.  We apologize for any
inconvenience.


Anything to get ONE thing off the "to do" list....

From: Stuart Zisman@ECT on 10/10/2000 12:41 PM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Signature authority

Sounds like you have a good plan.


Dear OU Team:

I have begun scheduling events for next fall's recruiting effort.  Please
mark your calendars for the following:

September 26 - Career Fair
October 22 and 23 - Interviews

I am currently working with Tim Rasnic and Ted Jacobs to set the date for our
information session.  I will send the date to you as soon as possible.

If you are interested in volunteering for any of these events, please drop me
a note.

Thanks!

lexi
3-4585


-----Original Message-----
From: Samuel Behrends [mailto:SBEHREND@LLGM.COM]
Sent: Wednesday, October 31, 2001 11:36 AM
To: Nettelton, Marcus
Subject: UNITED STATES OF AMERICA

==============================================================================
This e-mail, including attachments, contains information that is confidential and may be protected by the attorney/client or other privileges.  This e-mail, including attachments, constitutes non-public information intended to be conveyed only to the designated recipient(s).  If you are not an intended recipient, please delete this e-mail, including attachments, and notify me.  The unauthorized use, dissemination, distribution or reproduction of this e-mail, including attachments, is prohibited and may be unlawful.

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


It is yours.  I never said it would last. If fact, it is a tribute to Enron
that that era is over.

You've earned the right to doubt my credibility based on your original
interview, however.


Hi Clark,

Could you fill out this chart for us with names and contact info for the
Bracewell person (or people) you think would fit the bill the best?  We had a
list previously, but I believe some of the folks on it have moved on.

Thanks,

Kay


Good morning,

How about 130 today for a conference call with John's new best friend?

ckm


This is TENN Mayville production which is separate from the Tennessee Nora
Production.  I will forward the Nora email.  Cindy do you know if the pricing
I put on this deal is correct? Deal number 235505.

Scott

Lisa Valderrama@ECT
05/30/2000 09:24 AM
To: Scott Goodell/Corp/Enron@ENRON
cc: Chris Germany/HOU/ECT@ECT

Subject: 04/00 Columbia Natural Resources

I have a question relating to Sitara Deal # 235505.  Columbia Natural
Resources has invoiced me for some volumes at Tennessee,  42012 mmbtus at
2.988.  Sitara deal # 235505 has gas at Tennessee but the volume is off and
the price is $3.01.  Additionally I have a copy of an e-mail( May 9) that was
sent to Anita Chin showing a rate of 2.988 for April Production and 3.195 for
May production for a deal on Tennessee.  What I need to know, is deal #235505
the deal that is referenced in the e-mail ?  If it is the price needs to be
adjusted to reflect $2.988, if not  what is the deal number for the
transaction that was referenced in the e-mail to Anita Chin.

Could you please take a look and let me know.

Thanks
Lisa

3-7134


Hi Iris,

Thanks for your messages. Please, call me on my cell phone (713) 410 5396
or at my office (713) 853 3848.

By the way, the 2nd file you sent is password protected.

Vince


I didn't know you sent the market description to Awais, so I was following
up.  I'll mark it out.


Have you seen this?

 -----Original Message-----
From: 	Energy Industry Issues Newsletter <ISSUEALERTHTML@LISTSERV.SCIENTECH.COM>@ENRON   On Behalf Of IssueAlert@SCIENTECH.COM
Sent:	Wednesday, November 21, 2001 11:12 AM
To:	ISSUEALERTHTML@LISTSERV.SCIENTECH.COM
Subject:	Enron Continues to Implode; Will the Dynegy Deal Proceed?

		[IMAGE]
[IMAGE]	 [IMAGE] [IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  [IMAGE]

[IMAGE]	[IMAGE]

[IMAGE]	[IMAGE]
	[IMAGE] [IMAGE]  [IMAGE]  [IMAGE][IMAGE]  [IMAGE][IMAGE] [IMAGE][IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  November 21, 2001     Enron Continues to Implode;  Will the Dynegy Deal Proceed?  By Will McNamara Director, Electric Industry Analysis    [News item from Reuters] Enron Corp. (NYSE: ENE) shares fell sharply in opening trade on Nov. 20 after the humbled energy giant warned it could be forced to pay by next week $690 million in debt triggered by a credit downgrade last week. The shares were down $1.16, or 12.8 percent, to just over $7.00 in early morning trade on the New York Stock Exchange. The stock was the biggest loser by percentage change and the second-most active stock on the NYSE. As of early morning trading on Nov. 21, Enron shares were priced at $4.85, reportedly their lowest level in nearly 10 years.   Analysis: To paraphrase Shakespeare, "Oh, what a tangled web they weave when first they attempt to?" Wait, I better stop. When speaking about Enron, I am not prepared to finish that sentence, at least at this point. Enron has been accused of a lot of things over the last few weeks, but at this juncture an ongoing Securities and Exchange Commission (SEC) investigation has yet to reach any conclusion regarding deceptive financial reporting on the part of the Houston trader. Enron itself has admitted that its financial records from 1997 through the first half of 2001 "should not be relied upon." Nevertheless, perception is reality and the perception currently in the industry is that Enron is now taking a fall after getting caught following years of skirting the truth. While negative perception continues to cause damage to Enron's stock, perhaps of more current interest are the developments that are more grounded in reality. We know Enron has just lowered its third-quarter earnings, faces a stiff payment of $690 million (due within a week, in fact) and has cast doubt over its 4Q earnings potential. The question of the hour is whether these new financial hits will represent a "material adverse change" in the eyes of Dynegy, which still aims to buy Enron but wisely included an exit clause in its purchase contract. The other question is, what happens to Enron if Dynegy leaves it standing at the altar? A terminated marriage agreement would surely cause further reductions to Enron's already-weak credit standing, and it is unknown how the company could recover from another blow to its reputation.   As has been the case since the first of October, the ongoing "fall of Enron" story is changing by the day. For background on Dynegy's proposed acquisition of Enron, and Enron's financial problems that precipitated the proposal, please see my 11/12/01 IssueAlert (available at  www.scientech.com/rci ). In the interest of time, let me summarize what is happening at this moment. Dynegy rode in as Enron's white knight and plopped down a $9-billion offer ($10 a share) to buy the company, which at the time represented a steal of a price considering that Enron was priced at almost $90 a share little more than a year ago. To some extent, this seemed like the final chapter in the Enron saga. In other words, the company had gone through a tumultuous year, hit its "rock bottom" but still planned to live happily ever after as part of Dynegy, Inc., its much-smaller rival.    The developments just this week amount to a screeching brake that may in fact interrupt the nuptials between the two companies. For starters, on Monday (Nov. 19), Enron submitted its 10-Q report to the SEC (which was five days late, by the way). In the report, Enron dropped what have turned out to be several bombshells. First, Enron disclosed that, due to recent downgrades of its credit rating by agencies such as Moody's, Standard & Poor's and Fitch, it has to pay off or refinance by Nov. 26 debt it owes to a third party with which it has a partnership, or face nearly $4 billion in additional payments. Enron also has the option of finding new collateral to guarantee the debt. Enron would not disclose who owns the note, but we know that the limited partnership includes holdings in C.E.G. Rio, a Brazilian natural gas-company that Enron had planned to sell to raise about $250 million in cash. Note that just last week, various credit services lowered Enron's senior unsecured debt to one notch above junk status and warned that further downgrades may occur, which apparently prompted the call for the debt payment. Reportedly, if Enron does not make the $690-million payment by Nov. 27, investors will gain the right to immediately begin liquidating the asset for an amount equal to the note payable. Enron is presently scrambling to establish a "mutually acceptable" amendment with lenders to avoid having to issue payment on the debt. Along with the acknowledgement of the imminent payment of $690 million, Enron said that any further drop in its credit rating might necessitate further payments of $3.9 billion to other partnerships, the bulk of that figure going to Osprey Trust and Marlin Water Trust.    Also in the new SEC filing, Enron increased its 3Q 2001 loss by 3 cents a share to 87 cents. Enron originally reported a 3Q loss of $618 million, but has now raised that figure to $664 million. As a minor bright side, Enron did increase reported earnings for the first nine months of 2001 by a penny to 20 cents a share, attributed to adjustments made after the quarter's end. However, looking forward, Enron warned that continuing credit worries and a decline in the value of some of its assets could take a further toll on fourth-quarter earnings. Enron also claims that, even still, the numbers contained in the 10-Q report are not necessarily final as they have not been reviewed by Arthur Andersen, the company's external auditor. Thus, further revision of the numbers could take place.    Interestingly, there does not seem to be a big question about whether or not Enron can pay the $690-million debt obligation. Enron apparently has secured an additional $2 billion in loans from J.P. Morgan Chase and Citigroup in the last week. In fact, within the current SEC filing, Enron says that is has $1.2 billion of domestic cash consisting of the lines of credit and net collections. Thus, some investors are reassured by the belief that Enron has the cash on hand to make the $690-million payment if it is unable to renegotiate terms with lenders. According to the SEC filing, Enron also intends to sell off $8 billion in non-core businesses that are performing "below acceptable rates" and would use the proceeds to pay off debts, although this money would probably not be immediately available.   Again, however, there is a perception element to this development that should be noted. Enron has been accused of financing partnerships in the past in such a way as to keep them off the company's balance sheets. Apparently, this non-disclosure was done so that Enron could grow quickly without adding too much debt to its own books or diluting the value of its stock. As has been well documented, Enron is already in the midst of an intense SEC investigation regarding potential conflict-of-issues involving its former CFO. News about other financial deals that may not have been fully disclosed is clearly making investors even more nervous about Enron's stock.     As I said, the question of the hour is whether or not Enron's new problems will cause Dynegy to reconsider its offer. As usual, the answer all depends on who you ask. Dynegy is remaining mum and referring all questions about Enron's financial status to Enron. Investors are rather mixed on the question. Some say that the facts disclosed in the 10-Q report do not dramatically change Enron's position from what it was when Dynegy launched its acquisition and that the current drop in Enron's stock is just a knee-jerk response to the media hype surrounding the story. Further, those who diminish any potential impact say that Enron is still a liquid company and has money coming in from various sources. Thus, it should have no trouble making the $690-million payment. From a broad perspective, so one theory goes, Dynegy is still getting a great deal in Enron due to its staggering drop in stock price, and the acquisition remains valuable to Dynegy as it will position the combined company as North America's biggest marketer and trader of natural gas and electricity.   In contrast, other investors point to the fact that since the purchase agreement was signed, Enron's stock has fallen an additional 32.5 percent, which weakens the original acquisition agreement. In addition, if Enron follows through with the $690-million payment next week or secures additional financing to front this cost, both options alter the company's financial position from when Dynegy made its original offer, which could be construed as a "material adverse change."   Another interesting development indicates that Enron may no longer be the company that Dynegy agreed to purchase. New reports indicate many energy trading companies are now unwilling to sell power or natural gas to Enron for fear about the company's credit concerns. Such companies are now particularly reticent to sell power to Enron for next-day delivery. What this means in practical terms is that other trading companies may be gaining Enron's market share, which could diminish the value in the trading market that had attracted Dynegy to Enron in the first place. In addition, Enron's once-stellar energy trading business could now become reduced or collapse altogether.   Questions have been raised why Dynegy is not doing more at this time to help Enron out of its financial mess. Of course, under the acquisition agreement Dynegy already committed to providing an immediate $1.5-billion asset-backed equity infusion into Enron to help the company with its current financial woes, which will be followed by an additional infusion of $2.5 billion into the combined company by ChevronTexaco, which owns 27 percent of Dynegy. However, some traders apparently have wondered why Dynegy has not done anything about Enron's diminishing ability to secure power on the open market. Traders claim that Dynegy could step in and buy power from sellers on the behalf of Enron, in a strategy known as "sleeving." The fact that Dynegy has not chosen to take this step has been an indication to some observers that it is only willing to go so far in its pursuit of Enron.   In addition, Enron shareholders launched a lawsuit on Nov. 12 in state court in Houston to prevent the merger with Dynegy from happening. The petition reportedly alleges that Enron directors breached their fiduciary duties by agreeing to sell the company at too low a price and without adequate consideration of other alternatives. Enron said it will defend its decision in court.    Moreover, Dynegy was smart to include an exit clause in the acquisition agreement. The clause reportedly allows Dynegy to walk away from Enron if any material adverse change occurs related to the outcome of the SEC investigation, possible litigation against Enron, balance sheet strengths, and earnings forecasts. Certainly the latest developments disclosed in Enron's 10-Q filing with the SEC impact the company's balance sheet strengths and earnings forecasts, so a case could be made that Dynegy would have grounds to terminate the acquisition. Clearly, this pending deal hinges on the developments that will take place over the next few weeks. Dynegy ultimately will have to weigh the pros and cons of its acquisition offer for Enron and determine if the once-golden company still represents a great deal, or if pursuing the purchase would cause more trouble than it is worth.    An archive list of previous IssueAlert articles is available at www.scientech.com    We encourage our readers to contact us with their comments.  We look forward to hearing from you. Nancy Spring    Reach thousands of utility analysts and decision makers every day. Your company can schedule a sponsorship of IssueAlert by contacting Jane Pelz  at 505.244.7650.  Advertising opportunities are also available on our Website.    Our staff is comprised of leading energy experts with diverse backgrounds in utility generation, transmission and distribution, retail markets, new technologies, I/T, renewable energy, regulatory affairs, community relations and international issues. Contact consulting@scientech.com   or call Nancy Spring at 505.244.7613.    SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let us know if we can help you with in-depth analyses or any other SCIENTECH information products. If you would like to refer colleagues to receive our free,  daily IssueAlert articles, please register directly on our site at secure.scientech.com/issuealert .   If you no longer wish to receive this daily e-mail, and you are currently a registered subscriber to IssueAlert via SCIENTECH's website, please visit  http://secure.scientech.com/account/  to unsubscribe.  Otherwise, please send an e-mail to  IssueAlert , with "Delete IA Subscription" in the subject line.    SCIENTECH's IssueAlert(SM) articles are compiled based on the independent analysis of SCIENTECH consultants. The opinions expressed in SCIENTECH's IssueAlerts are not intended to predict financial performance  of companies discussed, or to be the basis for investment decisions of any kind. SCIENTECH's sole purpose in publishing its IssueAlert articles is to offer an independent perspective regarding the key events occurring in the  energy industry, based on its long-standing reputation as an expert on energy issues.     Copyright 2001. SCIENTECH, Inc. All rights  reserved.

[IMAGE]


Eric,
As we discussed, with ENSR's assistance I have developed a projected timeline
for developing the FERC required F-1 Exhibit (12 part Resource Reports to
satisfy the NEPA requirement) in sufficient detail to meet the FERC filing
requirements and expedite the processing of the environmental portion of the
application.  The aggressive timeline assumes that the expedited FERC
"Collaborative Approach" will be implemented throughout the processing of the
application.  Even with the "Collaborative Approach" and all of the upfront
work done with the environmental community to streamline the processing, the
schedule is very, very optimistic and assumes that all conflicting issues
will be resolved quickly and the processing continue.

I have requested that Jon Schmidt (ENSR) begin working on a detailed cost
estimate, by quarters in two phases.  The first part of the estimate would be
to project the environmental cost, by quarters of preparing the 12 Resource
Reports (including the necessary field work) that would get Sun Devil to an
FERC filing in the first quarter of 2002 that would not be rejected.  The
second component of the cost estimate would be to complete the field work and
permitting phases during the processing of the application.  This includes
participating in FERC scoping meetings and agency meetings as required.  This
would include assisting the third party environmental contractor in working
on the EIS to expedite the writing as needed.  It would also include
mitigation packages to satisfy agency requirements.  The third and final
component would be to budget for a Third Party Environmental Contractor to
write the EIS document during the time that the field work is being developed
and to process the same with the FERC Staff.  Once we get the "White Paper"
Fatal Flaw analysis that ENSR is preparing for this project we will have
enough information along with the budget to get us to the FERC filing to make
some quantifiable decisions on moving forward when comparing those to the
commercial advantages that you are developing.

If you have any questions, please give me a call.  John Shafer


pls print.  thanks.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 01/31/2000
05:24 PM ---------------------------

	From:  Mary Kay Miller                           01/31/2000 12:43 PM

To: Maria Pavlou/ET&S/Enron@ENRON, Drew Fossum
cc:

Subject: Revised Speech Notes

These are the "words" that go with the bullets--  see if anything strikes you
incorrectly or needing more--thanks MK
---------------------- Forwarded by Mary Kay Miller/ET&S/Enron on 01/31/2000
12:42 PM ---------------------------

Shelley Corman
01/27/2000 05:20 PM
To: Mary Kay Miller/ET&S/Enron@ENRON
cc:

Subject: Revised Speech Notes


as soon as you vgive me back my ice chest

Briant Baker
06/27/2000 09:39 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Updated July FOM Volumes

Please take my name off,
Thanks
Briant Baker


Sara,

Please advise if you are still the lawyer who reviews RMT masters, when requested for preparation.

If so, Legal has been requested to prepare an ISDA between RMT and Enron Japan Corp., which shall support their FX transactions.

Let me know, so I can pass this draft on to you for review.

Thanks.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3803A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
Email: Susan.Bailey@enron.com


This is a test e-mail page.


Supposedly but I am trying to get out of it.  I will let you know.

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Wednesday, November 14, 2001 6:40 AM
To:	Horton, Stanley
Subject:	FW: Board of Directors Meeting - December 11, 2001
Importance:	High

Are you still going to be making a presentation?

 -----Original Message-----
From: 	Johnson, Kelly   On Behalf Of Rieker, Paula
Sent:	Tuesday, November 13, 2001 3:59 PM
To:	Beck, Sally; Blachman, Jeremy; Bowen Jr., Raymond; Brown, Michael - COO London; Buchanan, Harold; Buy, Rick; Causey, Richard; Cheek, Charles; Cline, Wade; Cox, David; Derrick Jr., James; Dietrich, Janet; Donahue, Jeff; Elliott, Steve; Fallon, Jim; Frevert, Mark; Glisan, Ben; Hannon, Kevin; Hayslett, Rod; Horton, Stanley; Hughes, James A.; Kean, Steven J.; Kimberly, Kelly; Kitchen, Louise; Koenig, Mark; Lavorato, John; Lay, Kenneth; Leff, Dan; McCarty, Danny; Mcconnell, Mike; McMahon, Jeffrey; Metts, Mark; Muller, Mark S.; Olson, Cindy; Pickering, Mark; Piper, Greg; Scrimshaw, Matthew; Shankman, Jeffrey A.; Sherrick, Jeffrey; Sherriff, John; Whalley, Greg
Cc:	Adams, Jennifer; Aden, Beverly; Armstrong, Julie; Blackwood, Connie; Bolen, Vivianna; Bourgeois-Galloway, Hilda; Burns, Jennifer; Butler, Alan; Campos, Kathy; Chapman, Kay; Davidson, Binky; Daw, Nicki; Dick, Sharon; Dodgen, Kathy; Dorsey, Joyce; Ferrari, Kerry; Fisher, Dolores; Fleming, Rosalee; Ford, Sue; Gadade, Mrudula; Harris, Stephanie J ; Hawkins, Linda; Hillis, Kimberly; Hinojosa, Esmeralda; Iannarone, Lauren; Joyce, Mary; Lawless, Michelle; Marshall, Lucy; Mcginnis, Stephanie; McMahon, Kathy; McVicker, Maureen; Paxton, Jana L.; Phillips, Cathy; Rapacioli, Marisa; Rijo, Leah; Schiller, Marsha; Schoppe, Tammie; Slade, Nikki; Spiller, Tina; Stark, Cindy; Sullo, Sharon E; Taylor, Liz; Urquhart, Lauren; Valdez, Christina; Valdez, Veronica; Valencia, Laura; Walker, Stacy; West, Terry; Westbrook, Sharron; Wright, Teresa
Subject:	Board of Directors Meeting - December 11, 2001
Importance:	High

 << File: AgndaReq.doc >>

Kelly M. Johnson
Executive Assistant
Enron Corp.
Tel: 713-853-6485
Fax: 713-853-2534
E-Mail: kelly.johnson@enron.com


Dear Dale and Brent,

We have checked this morning and these do not seem to have been loaded yet.
Is there anything else that we need to do from the Tokyo side?

This is very urgent.

Thanks

Jane McBride

----- Forwarded by Jane McBride/AP/Enron on 09/25/2000 10:33 AM -----

	John Viverito
	09/25/2000 10:31 AM

		 To: Jane McBride/AP/Enron@Enron
		 cc:
		 Subject: Re: Japanese Weather Derivative GTC's for EOL

FYI
----- Forwarded by John Viverito/Corp/Enron on 09/24/2000 08:30 PM -----

	Brent Hendry
	09/21/2000 08:16 AM

		 To: John Viverito/Corp/Enron@Enron
		 cc: Dale Neuner/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Suttle/HOU/ECT@ECT, Jonathan
Whitehead/AP/Enron@ENRON, Mark Taylor/HOU/ECT@ECT, Morten E
Pettersen/AP/Enron@Enron, Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jane McBride/AP/Enron@Enron, Joseph P Hirl/AP/ENRON@ENRON
		 Subject: Re: Japanese Weather Derivative GTC's for EOL

The documents can be loaded.  Please note that the style and font of the Tax
representation section will need to conform to the rest of the document.
Dale what needs to happen next.  John, I am working on trying to develop a
policy and language to incorporate into certain of the Password Applications
that would require the counterparty to specify a process agent in the US.  I
think this policy would also be applicable as well to any Non-US counterparty
or Non-Japanese counterparty that would trade under this GTC.  I will keep
you informed of my progress.

Thanks,
Brent


Start Date: 4/4/01; HourAhead hour: 10;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040410.txt


Hi Tanya.

We are in the process of perfecting our security interest.  We respectfully
request the following letter from Enron Corporation (on letterhead):

To:  Natural Gas Exchange Inc. and NGX Financial Inc. (collectively,
"Exchange")

We refer to the Contracting Party's Agreement dated September 26, 1994, as
amended from time to time, between Enron Canada Corp. and Exchange, and
specifically refer to the obligation of Enron Canada Corp. to deposit
certain collateral with Exchange on request.  Certain funds have been wire
transferred from our account to Exchange, and we confirm and clarify that
those funds were delivered by us as agent for Enron Canada Corp., and the
deposit of those funds is and is deemed to be a deposit by Enron Canada
Corp.

Dated:

Enron Corporation

Thank you and hope you all have a good Thanksgiving!!

Kenny Foo
Credit and Risk Manager
NGX Financial Inc
140 - 4 Avenue SW, Suite 2330
Calgary,  Alberta, T2P 3N3
Ph: (403)974-1737
Fx: (403)974-1719


Darrell,

I like to see the weekend flows.  This is great.  Thanks.  Would you please add Michelle Lokay to this distribution list.

Thanks, Kim.

 -----Original Message-----
From: 	Schoolcraft, Darrell
Sent:	Monday, January 28, 2002 6:16 AM
To:	January, Steve; Harris, Steven; Watson, Kimberly; Lohman, TK
Subject:	Weekend scheduled volumes

Please see the attached.

 << File: Weekendsch.vol..xls >>


TASK ASSIGNMENT

Task Priority:		1
Task Due On:		3/19/2001
Task Start Date:	3/19/2001


sure, how about thursday at 3:30?   would like to get update on ENE's lng
projects as well.

Jonathan Whitehead @ ENRON   04/24/2001 07:28 AM

To: John Arnold/HOU/ECT@ECT
cc:
Subject: LNG

John, I have just arrived in Houston, and will be running the LNG Trading &
Shipping business. I worked for Louise for many years, and took over the
European Gas business from her when she came over here a few years ago. I'd
like to meet you and discuss a few issues. Do you have any time over the next
few days?

Thanks,
Jonathan


i told her that you were interested in her


Please advise should you have any questions concerning the attached.
(See attached file: hpl0816.xls)

 - hpl0816.xls


Here are the sp's, please have the contact w/ NE call me to discuss further.

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


Thanks for your message.  I thought that John did have responsibility for
risk, and I am glad to have that clarified.   Kristin worked for me for
several years as the risk lead for ENA power and joined Barry at EBS last
August, so I knew that you all had a great resource there!

I will look forward to a follow-up conversation to explore where we may have
potential solutions for EBS that can be borrowed or modified from EWS.  Just
give me a call when you are ready to get back together.  --Sally

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Thanks!

Thanks for taking the time to meet with me today.  You gave me some valuable
insights and suggestions.

I do want to correct one misstatement that I made.  John DOES have ownership
of the risk books.  This area of responsibility is being handle by a lady
named Kristen Albrecht who reports to Barry Pearce who is in charge of
trading operations.

I am looking forward to meeting with you again soon.

Gay Mayeux
Vice President, Enron Broadband Services
Physical Location:  1400 Smith Street EB4620
                                      Houston, TX 77002
Cyber Location:  gay_mayeux@enron.net
Office: (713) 853-9905
Cell:     (713) 416-8821
Fax:     (713) 646-9502


Anita,

OK.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/31/2000
02:55 PM ---------------------------

Zimin Lu
07/31/2000 02:41 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Anita DuPont/NA/Enron@ENRON
Subject: Re: Interview with Rabi S. De on Friday, August 11, 2000

Please also include Tanya, since she may be interested to have him.

Zimin

Shirley Crenshaw
07/31/2000 11:16 AM
To: Anita DuPont/NA/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT
Subject: Re: Interview with Rabi S. De on Friday, August 11, 2000

Anita:

I believe that Zimin was the one that asked me to bring him in.  Maybe you
can check with him as to whether there is anyone else he wants you to
include.

Thanks!

Anita DuPont@ENRON
07/31/2000 10:26 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Shirley Crenshaw/HOU/ECT@ECT
Subject: Interview with Rabi S. De on Friday, August 11, 2000

Vince:

Shawn Grady from HR Staffing called me and asked me to schedule interviews
with the people in Research.  He also mentioned that I should email you to
find out if you want anyone from any other department to interview Rabi.  I
am currently scheduling interviews with you, Krishna, Grant, Stinson, Zimin
and Vasant.  Is their anyone else in Research that you want to interview
him?  Please get back to me and I will set up the appts.  Thanks.  Anita


The report named: East Power Desk Daily Position Report <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=14&report_name=East+Power+Desk+Daily+Position+Report&category_cd=5&category_name=EAST&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=10/18/2001>, published as of 10/18/2001 is now available for viewing on the website.


Phillip,

Thank you for your message regarding responsibility changes within your team.  Within our team, we have had some changes as well.  Please note, effective 11/1/01, I have assumed responsibility for the Gas Desk within Risk Analytics.

Please feel free to share this information with your teams accordingly.  I look forward to working with each of you in the future.

Thanks and have a pleasant day!!

Zakiyyah
xt 58146
 -----Original Message-----
From: 	Trevino, Susan
Sent:	Wednesday, November 07, 2001 8:47 AM
To:	Wilson, Shona; Hernandez, Nancy; Considine, Keith; McClure, Zakiyyah; Velasco, Jennifer; Victorio, Tom; Abel, Chris; Allison, John; Patton, David; Thibodeaux, Kenneth; Wallace, Cassi
Subject:	FW: FYI

FYI

 -----Original Message-----
From: 	Love, Phillip M.
Sent:	Wednesday, November 07, 2001 8:31 AM
To:	Trevino, Susan
Cc:	Gossett, Jeffrey C.; Keiser, Kam; Palmer, B. Scott
Subject:	FYI

Can you let your group know that we have made some changes in responsibility in Risk Management.  Kam Keiser will be responsible for the West Desk, Scott Palmer will now be responsible for the Central Desk and I will now be responsible for the East Desk.  Please pass this information on and direct future inquiries accordingly.  Thanks.
PL


This looks good.  Please send this wherever it should go.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 07/06/2000 06:07 PM
---------------------------

Stephen P Schwarz
07/06/2000 02:41 PM
To: Sally Beck/HOU/ECT@ECT, Patti Thompson/HOU/ECT@ECT, Kimberly
Perkins/HOU/ECT@ECT
cc:
Subject: Expense Report for Stephen Schwarz Dated 7/6/00

For your approval.

Stephen
---------------------- Forwarded by Stephen P Schwarz/HOU/ECT on 07/06/2000
02:39 PM ---------------------------

Kimberly Perkins
07/06/2000 10:39 AM
To: Stephen P Schwarz/HOU/ECT@ECT
cc:
Subject: Expense Report for Stephen Schwarz Dated 7/6/00

Stephen,

Attached is your expense report.  Please let me know if any revisions are
required.  If no revisions are necessary, please forward to Sally for her
approval.  Thank you.

Kim


<<CSFB_EnergyTech_Apr0601.pdf>>

Summary:

* Britain's Crown Estate (hereditary possessions of the Royal family)
has granted seventeen UK companies the option to build wind power generation
projects with a potential value of U$2.3 billion on their land.  Wind
turbine sites have been approved for several regions ranging from Scotland
to the south coast of England, however government and regulatory approval
remains necessary for the projects to go ahead.
* BP, together with the government of Spain and the Phillipines, plan
to build a $48 million solar power plant that will deliver electricity to
over 150 villages (400,000 residents) that are isolated in the Phillipines.
The system will be installed in two separate installments, the first of
which is planned for September.

Regards,

Marko Pencak
416-352-4580
Cameron Jeffreys (Associate)
416-352-4581

Energy Technology Research
CREDIT | FIRST
SUISSE | BOSTON

 - CSFB_EnergyTech_Apr0601.pdf


Transwestern's average deliveries to California were 998 MMBtu/d (92%), with San Juan lateral throughput at 790 MMBtu/d.  Total East deliveries averaged 392 MMBtu/d.

El Paso's average deliveries to California were 2204 MMBtu/d (75%):
- PG&ETop, capacity of 1140 MMBtu/d, deliveries of 691 MMBtu/d (61%)
- SoCalEhr, capacity 1251 MMBtu/d, deliveries of 1038 MMBtu/d (83%)
- SoCalTop, capacity 540 MMBtu/d, deliveries of 475 MMBtu/d (88%)

Friday's posted Gas Daily prices:
	SoCal gas, large pkgs	  2.385 (-.19)
	PG&E, large pkgs	  2.315 (-.23)
	TW San Juan		  2.09
	TW Permian		  2.18 (-.02)

Enron Online bases:
		Oct	            Nov-Mar
Perm-CA	.20 (-.08)	  .33 (even)
SJ - CA	.32 (-.10)  	  .41 (even)
SJ-Waha	.13 (-.03)	  .10 (even)
Perm-Waha	.01 (-.005)            .015 (-.015)


---------------------- Forwarded by Peter F Keavey/HOU/ECT on 03/16/2000
02:11 PM ---------------------------

	From:  Kal Shah                           03/15/2000 03:52 PM

To: Peter F Keavey/HOU/ECT@ECT, Zal Masani/HOU/ECT@ECT, Bill
White/Corp/Enron@Enron
cc: Louise Kitchen/HOU/ECT@ECT, Mark Palmer, Rahil Jafry
Subject: Focus Group with traders -- EnronOnline Commercial

As per our conversation today, I am helping Enron's ad agency develop a
television commercial about EnronOnline.  Their creative team would like to
meet with a few Enron traders to learn first hand about what traders like,
dislike, what motivates them, their work environment, etc.  This will help us
make the commercial more realistic.  Would you or a couple of traders in your
team be able to attend a focus group next Tuesday, March 21st from 11:45 to 1
p.m. in the Enron Building? I'll send you the meeting room info. later.  We
will serve lunch.  Please let me know.  Your input will be very useful in
creating an effective ad.

Kal Shah
ext. 39354


Happy New Year and thanks again for your support on the Arena Prop.

A consulting group that I have worked with over the last 10 years in
California tells me there may be an initiative in 2002 (March or November)
to undo electric deregulation there.  This group is Woodward & McDowell.
They specialize in propositions.

In 2000, Baselice & Associates polled in their success efforts to defeat
Prop 25 (march) and pass Prop 35 (nov).  I highly recommend that any
coalition formed to defeat a proposition in California contact Woodward &
McDowell.  Call me if you would like to know more about them, or just call
Dave Fogarty at 650-340-0470.

Mike

MICHAEL BASELICE
Baselice & Associates, Inc.
4131 Spicewood Springs Road
Suite O-2
Austin, TX  78759
Phone: (512) 345-9720
Fax: (512) 345-9740
email: mikeb@baselice.com


FYI
For any of you whose 2001 Plan includes any components under Controllable
Infrastructure, the information below explains these items in more detail.
Should you have further questions after reviewing this, please do not
hesitate to contact me at X30669.

Thanks,
Edie
  ----- Forwarded by Edie Leschber/HOU/ECT on 02/07/2001 05:45 PM -----

	David Vandor@ENRON
	02/06/2001 03:44 PM

		 To: Paula Harris/HOU/ECT@ECT, Edie Leschber/HOU/ECT@ECT, Lindsay
Long/HOU/ECT@ECT, Jackie Nelson/HOU/ECT@ECT
		 cc: Sarah Brown/HOU/ECT@ECT
		 Subject: Controllable Infrastructure

Controllable Infrastructure will be billed for 2001 as follows:

Long Distance -  Will be billed to cost centers directly on account 52502000
and will consist of actual charges for long distance from your phone, calling
cards, and calls to the 1-800-97-ENRON number.

Market Data - Will also be billed to cost centers directly on account
52502000 and will consist of actual charges for market data obtained through
the providers (Bloomberg, Reuters, etc)

WAN Links -  Wide-Area Network links are used to connect remote offices to
the Houston network.  These charges will be billed on actuals and directly to
the cost center.

Trading Turrets -  Special Phones used by the traders.  This will be billed
on plan.

The following items are part of infrastructure, but the costs are driven by
system development projects.  These items will be billed according to plan,
which was derived from analyzing your expected system development costs.  As
the year progresses we will examine your system development charges to
determine if the portion of the infrastructure charges you are receiving
should be adjusted.

Application Integration -  Whenever a new client level or web-based
application is employed or an existing system is upgraded the application
integration team ensures this system is compatible with other systems and
will not cause system failures or downtime.

Change Management -  This group works with the development teams to provide
scheduling and contingency plans for bringing new systems online and for
maintenance on existing systems.  This includes scheduling downtimes and
providing the expected impact on the company.

Architecture and Planning - The primary function of the Architecture group is
to provide overall design and integration of technologies and products for
Enron's network.  This includes ensuring server space for scalability and
security is in place for the network.

If you have any other questions, please let me know.

David


Chris,
Will you be preparing the required Secretarial Certificates for the ISDA?

Stephanie Panus
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  stephanie.panus@enron.com


Sorry guys:

My other email account will not let me send.

I have really dropped the ball on this one.  I have been looking at your
stuff all morning and it appears to be pretty good.  I like the model for the
projections.  One point that I think was missed a little (although Jeff
addressed it somewhat in his revisions to Mark's comments) is the risk to
Netscape of going ahead with the $28 value.  I have been looking in the case
and have not found if this is a firm commitment placing or the best effort
type.  Obviously from Netscape's stand point, if it is a firm commitment then
the higher the sale price that is underwritten the better.  It will provide
more equity funding.  This may not be beneficial to the current shareholder's
given Jeff's Hot Issue comments.

Looking at the comparable recent IPOs (particularly UUnet), it appears that
there is enough evidence to support letting it out at $28.  The issue is
about the same size and the financials are roughly comparable.  UUnet was
actually selling less and losing more than Netscape.  Although the increase
in price on the day of issue is a little misleading since it is only a small
portion of shares, UUnet appears to have sustained the stock price level of
at least a few months (and it has increased further).

Anyway, I think I remember that Netscape did go for it and it IPO'd at $28
and close at over $70 on the first day.  Is this what Greenspan meant by
irrational exhurberants?

I am about to do the Easter thing and then drive home.  I will not be there
until after 8.  I do not want to put more time on Jimmy waiting for me.  I
will look at the finished product and try and hold my comments to a minimum.
Since I dropped the ball, I will take the lead on the last one to make it up
to you guys.

Dylan


MTV music awards Thursday September 6th - Hopefully we get another Britney strip tease this year.

 -----Original Message-----
From: 	Rob Laird <RLaird@natsource.ca>@ENRON [mailto:IMCEANOTES-Rob+20Laird+20+3CRLaird+40natsource+2Eca+3E+40ENRON@ENRON.com]
Sent:	Wednesday, August 29, 2001 11:02 AM
To:	Dorland, Chris
Subject:

Whoops I did it again,......I'm not that innocent...


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 02/20/2001
11:59 AM ---------------------------

	From:  Phillip K Allen                           02/15/2001 01:13 PM

To: stagecoachmama@hotmail.com
cc:
Subject:

Lucy,

Thanks for clearing up the 2/2 file.  Moving on to 2/9, here are some
questions:

#1 It looks like he just missed 1/26&2/9 of $110.  I can't tell if he still
owes $47 on his deposit.

#13 I show she missed rent on 1/26 and still owes $140.

#15 Try and follow up with Tomas about the $95.  Hopefully, he won't have a
bad reaction.

#20b Missed rent?

#26  Has she paid any deposit or rent?

#27 Missed rent?


Time is critical and your insight is essential for success.  If you haven't
already, please remember to complete the survey below.  The survey responses
are anonymous so everyone is receiving this reminder. Your input will help
shape future Enron information sharing systems. Please complete by noon on
Friday, December 8th.

Thanks again.

Sincerely,
Kent W. Morrison
KM Business Analyst Consultant

---------------------- Forwarded by Kent Morrison/NA/Enron on 12/07/2000
11:47 AM ---------------------------

Kent Morrison
12/06/2000 09:11 AM
To: Bob Sparger/Corp/Enron@Enron, Suzanne Brown/HOU/ECT@ECT, Bill
Rogers/Corp/Enron@ENRON, Mary Clark/Corp/Enron@ENRON, Jack
White/HOU/AZURIX@AZURIX, Alexander Perwich/HOU/AZURIX@AZURIX, Eric
Benson/NA/Enron@ENRON, Cindy Irvin/HOU/ECT@ECT, Susan Entman/NA/Enron@ENRON,
Dayna F Smith/NA/Enron@ENRON, John Pavetto/Corp/Enron@Enron, Jeff
Donahue/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Paul Dawson/Govt.
Affairs/LON/ECT@ECT, Doug Wood/LON/ECT@ECT, Michael J Miller/Enron
Communications@Enron Communications, Shona Wilson/NA/Enron@Enron, David
Gossett/Enron Communications@Enron Communications, Andrew
Parsons/Corp/Enron@Enron, Jennifer Medcalf/NA/Enron@Enron, Calvin
Eakins/Corp/Enron@ENRON, Derryl Cleaveland/NA/Enron@ENRON, David
Johanson/Enron Communications@Enron Communications,
stephen.simpson@enron.com, norman_levine@enron.net, Rita Hartfield/Enron
Communications@Enron Communications, ddelain2@enron.com
cc: Marie Hejka/Corp/Enron@ENRON

Subject: Knowledge Management Pilot and Prototype Project

Please complete the Knowledge Management survey below.  You are being asked
to participate in this survey because your name was recommended during
one-on-one interviews conducted for the KM Pilot and Prototype project.
Please take a few minutes and complete this survey before noon on Friday,
December 8th.

Thank you in advance for your time and participation.

Sincerely,
Kent W. Morrison
KM Business Analyst Consultant

http://etcsurvey.corp.enron.com/wi/p0231745/i.asp


Thanks for the message!  It was a complete victory!   Mark


APRIL 13, 2001:  We have received the executed EEI Master Power Purchase and
Sale Agreement dated 4/10/01 from the referenced CP.  Copies will be
distributed to Legal and Credit.


All,
	Attached is the CAISO certification for EPMI's under scheduling penalty refund.
-Kit

Kit Blair
Enron Power Marketing Incorporated
Volume Management
Phone: 503-464-8816
Fax: 503-464-7996


Subject: FW: White House

> From: The White House
>
> To: Albert Gore
>
> Dear Al:
>
> We found some more votes. You won. When do you want to take over?
>
> Love,
>
> George W. Bush
>
>


----- Forwarded by Elizabeth Sager/HOU/ECT on 08/10/2000 02:44 PM -----

	"Edmonds, Sonnet" <sonnet.edmonds@SouthernEnergy.Com>
	08/03/2000 04:10 PM

		 To: Elizabeth Sager/HOU/ECT@ECT, "'fmdutton@aep.com'" <fmdutton@aep.com>
		 cc:
		 Subject: memo

 <<WSPP--Bookout position.doc>> This is the memo I prepared for the WSPP
meeting on Friday.

 - WSPP--Bookout position.doc


*~*~*~*~*~*~*~*~*~*~*~*~* Daily Riddle ~*~*~*~*~*~*~*~*~*~*~*~*~*

Today's Riddle is -

How would you rearrange the letters in the words new door to make
one word? Note: There is only one correct answer.

As always, you will find the answer below today's sponsor.

Please take a moment and visit today's sponsor-

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The answer to today's Riddle is -

O-n-e  w-o-r-d

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

---
You are currently subscribed to riddles as: mike.grigsby@enron.com
To unsubscribe send a blank email to leave-riddles-8238I@riddlesandmore.net


Jeff, as per our discussion, this would be a great opportunity for you to
spend some time with and instill your vision for Enron to the leaders of the
ENA organization.  I have attached a preliminary agenda which has you
speaking to the group right after dinner the night of December 14th.  You
have no time constraint on the length of your talk (ie) whatever you find
find appropriate in order to get your message across.  I though it might be
interesting for you to give your vision of Enron's 2001 goals, objectives and
strategy.  As well, a brief business overview of EES, EBS and Networks may be
valuable in building connections.

Regards
Delainey


Please see attached memo from Beth Tilney and Cindy Olson.


WAMEX Holdings - http://www.wamx.com/

Please find below the two most recent press releases for Wamex Holdings,
Inc. (OTC: WAMX)

Tuesday May 29, 7:02 am Eastern Time

Press Release

Wamex Secures Bridge Funding to Help Get Internet Trading System Online

NEW YORK--(BUSINESS WIRE)--May 29, 2001--Wamex Holdings Inc. (OTC:WAMX -
news) today announced that it received the first cash payments as part of
an advance towards the funding it needs to get its Internet Trading System
online.

Macrocom Investors, LLC, a New York financial firm, has agreed in
principle to initial financing in the amount of $500,000, with the
prospect of further investment when due diligence is completed, according
to Sascha Mundstein, Wamex CEO.

The advance, Mundstein speculated, could be the first increment in a total
financing package that will enable Wamex to fulfill its role in the
"Instox" joint venture pledged to bring its Internet Trading System online
worldwide, and generating revenues.

"The funding is contingent on Macrocom's satisfaction that the Internet
Trading System software really works, and we know that it does -- it has
been demonstrated," Mundstein said.

The Wamex CEO expressed the hope that this financial boost signals major
progress toward the total recovery of Wamex, which he has been working to
achieve since taking over the company late in 2000.  Wamex is 50% partner
in a joint venture with Trat.net Ltd. and CSCO Ltd., officially named
"Instox." Instox is developing the Web site that will bring investors
international access to a direct, online, one-on-one, "no middleman"
trading facility, wherein third party price manipulation and distortion
may be greatly reduced or eliminated.

"The day Instox opens the Internet Trading System to investors will be the
day the investment business begins a radical change for the better,"
Mundstein said.

Safe Harbor Statement: This release may contain certain forward-looking
statements that are made pursuant to the safe harbor provisions of the
Private Securities and Litigation Reform Act of 1995. Actual events or
results may differ from the company's expectations.

Contact:
Asset Professional Services, Houston
Jack Burney, 713/729-5233
burney00@swbell.net

Thursday May 31, 7:01 am Eastern Time

Press Release

Wamex to Complete Problematic 3-Year Audit and File Its 10K With SEC

NEW YORK--(BUSINESS WIRE)--May 31, 2001--Wamex Holdings Inc. (OTC:WAMX -
news) today announced the impending completion of a problematic 3-year
audit, which will pave the way for the filing of an up-to-date 10K annual
report with the SEC.

The audit and 10K filing will remove a significant obstacle to the
re-listing of WAMX stock on the OTC Bulletin Board, Sascha Mundstein, CEO,
speculated.

"Hopefully, we will complete the audit in the very near future and the
filing of the 10K annual report will follow shortly," Mundstein said. "The
pursuit of an accurate audit has been an arduous task, and we will be
happy to put it behind us. We are geared to keep Wamex dealings absolutely
accurate and above board in the future."

Wamex lost its listing in mid-2000 after two of its officers were charged
with illegal dealings. They have subsequently left the company. The
company itself, Mundstein said, has never been accused of any wrong-doing.

The audit was complicated by a convoluted trail going back to 1998,
involving problems such as monies deposited in subsidiary and alternate
companies by previous management, before Mundstein took charge last year
to rescue Wamex. Former executives connected to these transactions have
long since resigned from the company and foregone any control of its
stock.

The prospect of Wamex's return to the OTC Bulletin Board, and the
projected opening this year of the "Instox" international Web site,
offering the private investor a chance to trade one-on-one without
middlemen and price distortion, Mundstein said, "puts our corporation back
on the track leading to stability and profitability."

Safe Harbor Statement: This release may contain certain forward-looking
statements that are made pursuant to the safe harbor provisions of the
Private Securities and Litigation Reform Act of 1995. Actual events or
results may differ from the company's expectations.

Contact:
Asset Professional Services, Houston
Jack Burney, 713/729-5233
burney00@swbell.net.

______________________________________________________________________
To unsubscribe, write to wamex-unsubscribe@listbot.com


Here is a kitty for your office.

I really miss mine now that they are in Kitty Jail!


Jordan Mintz 3-7897
Bob Foster 818 302 9210
Kevin Beasley 3-7807


I need some further clarification.  As I understand it, some, if not all, of
the meters that reside in Beaumont and South Texas Divisions are included in
Exhibit C.  Are we saying that the "extend and blend" transaction excluded
some volume previously included?  That is inconsistent with the analysis
performed when the renegotiated transactions were analyzed and booked.

I have asked Arhur Andersen for a copy of the amended Exhibit C so I can
fully understand.  Maybe that will help clear my confusion also.
---------------------- Forwarded by Brenda F Herod/HOU/ECT on 06/09/2000
06:33 AM ---------------------------

	From:  Ami Chokshi @ ENRON                           06/08/2000 02:46 PM

To: Brenda F Herod/HOU/ECT@ECT
cc:
Subject: Exhibit C Delivery Points

---------------------- Forwarded by Ami Chokshi/Corp/Enron on 06/08/2000
02:45 PM ---------------------------

"Jay Sonnenberg" <jsonnenberg@bracepatt.com> on 06/08/2000 02:41:04 PM
To: <Ami.Chokshi@enron.com>
cc: "Aaron Roffwarg" <aroffwarg@bracepatt.com>, <Dan.J.Hyvl@enron.com>

Subject: Exhibit C Delivery Points

Ami,

As discussed earlier, the issue is whether all of the Delivery Points
appearing on Exhibit C to the 76 Agreement, as amended, are subject to the
audit of General Service Customers, or whether the audit should narrow the
focus to the Houston, East Texas and Gulf Coast Divisions.  Stated
differently, the issue is whether quantities of gas required by General
Service Customers in the Beaumont Division or the South Texas Division should
be considered part of the Basket.

Transaction No. 1 - Revision No. 1 under the ENFOLIO Agreement states that
the DCQ obligations apply  to "Customer's Houston, East Texas and Gulf Coast
Divisions."  Therefore, although this Transaction identifies the Delivery
Point(s) as those appearing on Exhibit C to the 76 Agreement, the intent was
to exclude Beaumont and South Texas.  In an earlier conversation today, Dan
Hyvl confirmed that the foregoing was the appropriate analysis of this
Transaction.

Based on this call, it would appear that, although Exhibit C to the 76
Agreement lists multiple Delivery Points, the intent was to limit the
Delivery Point to the Customer group referenced in the heading of the
applicable ENFOLIO Agreement.

Dan further stated that the boundary lines were redrawn at some time prior to
December 29, 1998 (the date of the Restructuring Agreement).  We have not
seen documentation evidencing these changes.  In addition, it was discovered
that the "Texas Coast Division" (referenced on Exhibit C, as amended) is
actually the "Gulf Coast Division."  Dan mentioned that it would be prudent
for all parties to outline definitive boundaries of divisions for future
clarification.  Finally, he stated he would meet with you personally to
discuss these issues with you further.

I hope you find this information useful.  If you have any questions or
comments, please do not hesitate to call me or Aaron Roffwarg at (713)
221-1117.

Best regards,

Jay Sonnenberg
Bracewell & Patterson, L.L.P.
711 Louisiana St., Suite 2900
Houston, TX  77002-2781
(713) 221-1417 (Ph)
(713) 221-2158 (Fax)


We received two packages of documents today from Steve Smith and from Duke,
and are analyzing them now.


I think it looks good. sj

 -----Original Message-----
From: 	Corman, Shelley
Sent:	Monday, November 19, 2001 4:53 PM
To:	Bryant, Mike; Blair, Lynn; Holmes, Bradley; January, Steve; Nacey, Sheila
Subject:	Draft - For Your Review

 << File: 2001 YEAR END PROCESS REVIEW.doc >>


I checked the agreements and we can provide you with copies of both of these,
so I am having them copies right now and will be faxing them to you this a.m.

	Matthew Dawson
	01/10/2001 09:42 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Denis O'Connell/LON/ECT@ECT
		 Subject: Access to ENA ISDA

 Hi Tana, as discussed, could you please take a look at the ENA  ISDA'S
with   Credit Suisse First Boston dated 21 April 1999 and BP Amoco dated 9
September1998. I understand you need to check that we ,as an Affiliate are
allowed access. The latter is esp urgent because Denis needs( if possible)
access to the terms for a call tomorrow at 10am London time.

Apologies for the late notice

Matt