Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
              Thursday, January 17 2002 No. 907
Visit: http://www.enerfax.com/ or for Oil Prices & News
http://www.enerfaxgold.com/
PHYSICAL NATURAL GAS PRICES ??
Gulf/Eastern Region
| Agua Dulce              | 2.24  |
| ANR SE                  | 2.32  |
| Carthage TG             | 2.30  |
| Chicago Citygate        | 2.38  |
| Columbia Gulf Onshore   | 2.36  |
| Dominion South Point    | 2.50  |
| Henry Hub               | 2.39  |
| Houston Ship Channel    | 2.37  |
| Katy Hub                | 2.31  |
| NGPL LA Pool            | 2.31  |
| NGPL - Midcontinent     | 2.24  |
| NGPL STX                | 2.26  |
| NGPL TX/OK              | 2.27  |
| NNG Demarc.             | 2.32  |
| Niagara                 | 2.58  |
| Sonat Tier 1            | 2.35  |
| TCO IPP Pool            | 2.49  |
| Tetco ELa               | 2.38  |
| Tetco M-3               | 2.84  |
| Tetco STX               | 2.26  |
| TGP Zone 0              | 2.27  |
| TGP Zone 1 (500 Leg)    | 2.32  |
| TGT Zone SL             | 2.37  |
| New York Citygate       | 2.98  |
| Transco Station 65      | 2.43  |
| Transco Zone 6 (NY)     | 2.99  |
| Trunk ELa               | 2.33  |
| Western Region
| California Border       | 2.29  |
| El Paso Keystone        | 2.19  |
| El Paso San Juan-Blanco | 2.18  |
| Waha Hub                | 2.24  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)      | 3.02  |
| Dawn Hub/Union          | 2.39  |
| Northwest Stanfield     | 2.17  |
| Wyoming Pool            | 2.12  |
| Opal/Kern River         | 2.12  |
| PGT-Malin               | 2.26  |
| Sumas                   | 2.17  |
           Flow Date 1/17
-------------------------------------------------------------

NATURAL GAS FUTURES
Henry Hub
12 Month Strip ?2.6170 +0.0709 ? ? ?
18 Month Strip ?2.7174 +0.0608? ?
| Month | High  |  Low  | Close | Change |
| FEB   | 2.406 | 2.380 | 2.394 | +0.103 |
| MAR   | 2.375 | 2.356 | 2.363 | +0.090 |
| APR   | 2.383 | 2.376 | 2.383 | +0.080 |
| MAY   | 2.470 | 2.380 | 2.446 | +0.078 |
| JUN   | 2.525 | 2.420 | 2.506 | +0.078 |
| JUL   | 2.585 | 2.570 | 2.566 | +0.073 |
| AUG   | 2.615 | 2.605 | 2.606 | +0.068 |
| SEP   | 2.606 | 2.600 | 2.599 | +0.063 |
| OCT   | 2.615 | 2.565 | 2.621 | +0.063 |
| NOV   | 2.800 | 2.770 | 2.816 | +0.053 |
| DEC   | 3.015 | 2.960 | 3.011 | +0.051 |
| JAN   | 3.105 | 3.040 | 3.093 | +0.051 |
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Natural Gas Futures Rally on AGA Report

    Natural gas futures for February delivery on the NYMEX jumped
$0.103 higher yesterday to $2.394 per MMBtu. The March contract
gained $0.09 to $2.363 per MMBtu. The market began the day up and
pushed higher after a 137 Bcf withdrawal was reported by the AGA in
the afternoon. The storage report was about what was expected, but
was 37 Bcf more than a year ago. However, it barely dented the record
amounts of inventory remain in storage, about 2.529 Tcf, at 77% full
compared to 44% full last year at this time at 1.459 Tcf. The 5-year
average is 2 Tcf. The rally broke through the $2.36 resistance level.
Funds are holding record-high short positions and could cause a major
technical rally if they ever had to cover. But, more likely the
market will head back down as the fundamentals takeover. Support is
seen at $2.36, $2.32 and $2.25 per MMBtu. A cold front expected to
move into eastern states next week and could cause the market to
rally again, but the increase will be difficult to sustain. Natural
gas for next day delivery across the US and Canada was generally flat
to $0.05 higher yesterday. Natural gas for next delivery at the hub
gained $0.03 to $2.39 per MMBtu.
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Today's Power Bulletins
 * SEC Approves National Grid ? Niagara Mohawk Merger
 * AES NewEnergy Receives License to Sell Electricity in Oregon
 * Entergy Nuclear Plants Earn Top Safety Rating from OSHA
 * Fuel Cell Investor 2nd Annual Industry Summit to be Held in New
York Marriott
Marquis Hotel at Times Square, March 26 ? 27
 * California Attorney General Seeks to Hold Enron in Contempt of
Court for Failing to Turn Over Subpoenaed Documents
 * Enron Shares Fall in Pink Sheet Trading.
FERC Chairman Wood to Meet with PJM Interconnection and Midwest ISO
Regarding Letter of Intent to Create Single Market Between Them
 * Great River Energy Research Project Could Increase Lignite
Marketability.
Western Spot Power Prices Rise Amid Curtailed Generation
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 PG&E Ads Blast California PUC Lawsuit

    PG&E has bought full-page advertisements in newspapers throughout
California blasting a giant state fraud lawsuit against the bankrupt
utility in a bid to topple the company's reorganization plan. The ads
reprinted a recent letter to the employees of Pacific Gas and
Electric from the chairman and chief executive of the parent company.
He wrote that the lawsuit by the California Attorney General
contained false and unwarranted accusations. The lawsuit charges that
PG&E drained cash from the utility during the California power
emergency to fund new businesses and drove the company into
bankruptcy and seeks damages of $600 million to $4 billion. The
attorney general and the PUC are working to derail the utility's
reorganization plan because they don't want to lose regulatory
jurisdiction over the company, the ad said. The plan would shift the
utility's power generation and energy transmission systems to new
companies formed by PG&E and beyond state jurisdiction.
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-------------------------------------------------------------
AGA Natural Gas Storage Report

            Week                                    Prev
           Ending    Prev                   Prev    Year
| Region | 1/11/02 | Week | Diff | % Full | Year | % Full|
| Prod   |  733    |  777 | -44  |  78%   |  343 |  35%  |
| East   | 1396    | 1482 | -86  |  76%   |  880 |  46%  |
| West   |  400    |  407 |  -7  |  79%   |  236 |  47%  |

| Total  | 2529    | 2666 |-137  |  77%   | 1459 |  44%  |
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Calpine Revises 2001 and 2002 Earnings Estimates

    Calpine has lowered its earnings estimates for 2001 and 2002. It
now expects profits of $1.95 per share for 2001 compared to estimates
of $2.00 per share. For 2002, it expects earnings of $1.70 per share
versus estimates of $2.20 per share. Even though Calpine lowered its
estimate for 2001, it will see its profits rise by 63% above 2000
earnings. Calpine also revised its capital spending budget downward
by $2 billion saying it will complete 27 power projects, accounting
for 15,200 MW, which are currently being built. Another 34 projects
in the advanced development stage will be on hold until demand for
power increases. It is also negotiating with major equipment
suppliers to adjust payment schedules and revise delivery timing in
line with its new construction schedule. Calpine, Mirant and other
power generators have delayed or canceled billions of dollars in
projects in an attempt to bolster credit ratings and reassure
investors. Last month, Moody's lowered Calpine's credit rating to
junk and said it remained on review for further possible downgrades.
Calpine has raised almost $5 billion in the last 3 months, including
a $2.6 billion bond sale. Its current generating capacity is 11,100
MW, but was scheduled to have up to 70,000 MW by the end of 2005. It
now expects to have 26,300 MW by the end of 2003. Plants with a
combined capacity of 82,000 MW have been canceled or postponed.
Plants under construction with another 200,000 MW of capacity are on
the auction block.
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-------------------------------------------------------------
PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 20.00 | 19.35 |  19.75  |
| ECAR       | 21.50 | 18.50 |  20.25  |
| ERCOT      | 21.00 | 17.55 |  19.75  |
| Entergy    | 23.00 | 20.00 |  21.40  |
| TVA        | 26.35 | 23.75 |  25.90  |
| ComEd      | 21.75 | 19.50 |  20.45  |
| Nepool     | 30.50 | 30.25 |  30.40  |
| PJM West   | 23.40 | 23.20 |  23.30  |
| Main       | 21.75 | 19.05 |  20.25  |
| MAPP       | 23.00 | 20.00 |  20.90  |
| Palo Verde | 30.50 | 28.00 |  28.65  |
| Mid C      | 22.75 | 20.50 |  21.35  |
| COB        | 25.50 | 23.75 |  24.30  |
| 4 Corners  | 27.00 | 26.00 |  26.50  |
| Mead       | 30.00 | 28.00 |  29.10  |
| NP 15      | 30.00 | 27.00 |  28.25  |
| SP 15      | 30.50 | 27.25 |  28.65  |
            Power Delivered 1/17
-------------------------------------------------------------
FERC to Create Power Market Oversight Unit

  The FERC plans to create a new market oversight unit to prevent
manipulation of wholesale electricity prices and supplies. The new
Office of Market Oversight and Investigations is designed to protect
customers through vigilant oversight of the nation's energy market,
according to the FERC. It plans to have the office operating with a
staff of over 50 by this Spring. The FERC currently has an office of
Markets Tariffs and Rates, which monitors markets in a broad way.
But, the new office will be FERC's first attempt of defining and
curbing market power, either through refund orders or courts.
-------------------------------------------------------------
Allegheny Energy Supply Company, Salt River Project (SRP) and Sempra
Energy
Resources announce Open Season for proposed Desert Crossing Gas
Storage and
Transportation System. Open Season for customers interested in
capacity
begins Jan. 10, 2002 and extends through Feb. 8, 2002.  For
information,
visit www.desert-crossing.com
-------------------------------------------------------------
Natural Gas NYMEX Volume
02FEB   32,364
02MAR   13,993
02APR    5,770
02MAY    1,972
02JUN    1,601
02JLY    3,826
02AUG    2,476
02SEP      609
02OCT    4,332
02NOV    1,411
02DEC    1,859
03JAN      953
03FEB      519
03MAR    2,032
03APR      482
03MAY        0
03JUN       69
03JLY       16
03AUG    1,532
03SEP        2
03OCT      592
03NOV       30
03DEC      181
04JAN        0
-------------------------------------------------------------
Todays Gas Bulletins
 * Hart Publications Launches Pipeline and Gas Technology Magazine
 * Dynegy Promotes Matt Schatzman to President and CEO of Energy
Convergence
Business
 * California Meteorologist Wins $50,000 in Aquila/AMS Forecast
Competition
 * David Duncan, Fired Former Andersen Auditor Who Shredded Enron
Documents, Now Cooperating with House Energy and Commerce Committee
Investigation
 * Southern Natural Files $200 Million Debt Offer with SEC
 * Phillips Optimistic About Alaska Natural Gas Pipeline; Favors 2100-
Mile Southern Route to Alberta, Partly Along Existing Trans-Alaska
Oil Pipeline and Partly Alaska Highway Route
 * GAO Trying to Gauge Congressional Support for Court Action Against
White House Over Refusal to Give Details of How Energy Policy was
Formulated
------------------------------------------------------------
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-------------------------------------------------------------
JP Morgan Posts 4th Quarter Loss

    JP Morgan Chase posted its first quarterly loss in 5 years after
it wrote off loans to Argentina and Enron. The bank lost $332
million, or $0.18 per share, compared with earnings of $0.34 per
share, or $708 million, in the 4th quarter of 2000. The banks
decision to lend to Enron, Argentina and others that defaulted kept
it from profiting from the lowest interest rates in 40 years.
Competitors that took advantage of the low rates are reporting
increased earnings. JP Morgan took a write-off of $456 million for
trading losses and loans to Enron and still has exposure of $2.06
billion of potential losses. The lender had a complex relationship
with Enron as it traded with the company, advised it and loaned it
money. JP Morgan will attempt to recover its Enron loans, some of
which were not backed by collateral, in bankruptcy court. The bank is
also suing insurance companies for $965 million for insured oil and
natural gas contracts. In addition, JP Morgan took a charge of $351
million for loans to Argentina, which devalued its currency and
defaulted on its bonds. It is one of 4 US lenders with large
exposures in the country. The bank said it lost $385 million in its
private equity business, and also allowed $510 million to cover
further possible loan defaults in response to deteriorating market
conditions.
-------------------------------------------------------------
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-------------------------------------------------------------
Marathon Announces 2 Deepwater Gulf of Mexico Dry Holes

    Marathon Oil did not encounter hydrocarbons at the company's
Paris Carver and Flathead exploratory wells in the deepwater Gulf of
Mexico. The Paris Carver and Flathead wells are located in Green
Canyon Block 601 and Walker Ridge Block 30, respectively.  Paris
Carver was drilled to a total depth of 24,120 feet in 4,572 feet of
water, and Flathead was drilled to a total depth of 28,043 feet in
6,556 feet of water.  Marathon has plugged and abandoned the Paris
Carver well.  The Flathead well has been temporarily abandoned and,
after completing additional technical studies, Marathon is
considering reentering and sidetracking options. Marathon was
operator of the Paris Carver well and holds a 50% interest in Blocks
601 and 602; and also operated the Flathead well, and holds a 100%
interest in Block 30.
-------------------------------------------------------------
POWER FUTURES ?
| Month |   COB   | Change |   PV    | Change |
| FEB   |  22.00  | +0.00  |  23.50  | +0.00  |
| MAR   |  20.50  | +0.00  |  23.00  | +0.00  |
| APR   |  20.90  | +0.00  |  24.25  | +0.00  |
| MAY   |  19.00  | +0.00  |  25.25  | +0.00  |
| JUN   |  20.50  | +0.00  |  30.00  | +0.00  |
| JUL   |  30.50  | +0.00  |  40.00  | +0.00  |
| AUG   |  40.50  | +0.00  |  44.25  | +0.00  |
| SEP   |  35.00  | +0.00  |  35.00  | +0.00  |
| OCT   |  27.00  | +0.00  |  27.50  | +0.00  |
| NOV   |  26.50  | +0.00  |  27.00  | +0.00  |
| DEC   |  27.50  | +0.00  |  27.50  | +0.00  |
| JAN   |  27.00  | +0.00  |  27.00  | +0.00  |
| Month | Entergy | Change | Cinergy | Change |
| FEB   |  20.15  | +0.65  |  21.20  | +0.65  |
| MAR   |  20.70  | +0.35  |  22.10  | +0.10  |
| APR   |  20.70  | +0.35  |  22.10  | +0.10  |
| MAY   |  23.75  | +0.25  |  25.35  | +0.15  |
| JUN   |  29.00  | +0.00  |  31.65  | +0.00  |
| JUL   |  38.00  | +0.25  |  41.70  | +0.00  |
| AUG   |  28.00  | +0.00  |  41.70  | +0.00  |
| SEP   |  22.25  | +0.00  |  23.15  | +0.25  |
| OCT   |  22.25  | +0.25  |  23.25  | +0.25  |
| NOV   |  22.25  | +0.25  |  23.00  | +0.00  |
| DEC   |  22.25  | +0.25  |  23.00  | +0.00  |
| JAN   |  24.75  | +0.25  |  26.00  | +0.00  |
-------------------------------------------------------------
Power Futures
| Month |  PJM  | Change |
| FEB   | 24.75 | +0.10  |
| MAR   | 24.90 | +0.15  |
| APR   | 24.90 | +0.15  |
| MAY   | 28.25 | +0.05  |
| JUN   | 35.15 | -0.10  |
| JUL   | 48.75 | -0.10  |
| AUG   | 48.75 | -0.10  |
| SEP   | 25.55 | +0.05  |
| OCT   | 25.25 | +0.00  |
| NOV   | 25.25 | +0.00  |
| DEC   | 25.25 | +0.00  |
| JAN   | 29.00 | +0.30  |
-------------------------------------------------------------
Energy Seminars, Inc. Announces Key Seminar Offerings for January:

Energy Seminars will be going to Florida and Calgary in 2002!

Click to www.energyseminars.com to see our 2002 schedule.

Register on-line at http://www.energyseminars.com or call Registrar
Gina Patrick

Phone: 281-362-7979
FAX: 281-296-9922
----------------------------------------------------------------------
----------------------------------------------------
Dominion Resources Expects 4th Quarter Costs

    Dominion Resources had 4th quarter expenses of $348 million for
losses from dealings with Enron and for a restructuring. The
company's 2001 earnings, excluding some items, met or exceeded
forecasts of $4.15 per share. The expenses include $97 million
related to Enron, a $183 million write-off of Dominion Capital assets
and $68 million from a restructuring. The Enron costs involve $6
million for past sales to the energy trader and $91 million for the
decline in value of forward natural gas contracts with Enron.
Dominion expects profit this year of $4.90 - $4.95 per share.
Earnings after 2002 should rise at an average annual rate of 10%,
Dominion says.  Last November, Dominion cut its senior-management
team by 19 officers, or 25%. Dominion has hedged more than 60% of its
2002 natural gas production and 40% of its 2003 natural gas volume at
prices above current market prices.
-------------------------------------------------------------
UBS to Restart EnronOnline

    Natural gas traders who did large volumes of business with Enron
are taking a wait-and-see approach toward dealing with the new market
player expected to emerge from the recent deal with Swiss bank, UBS.
Some have their doubts about UBS' potential impact on the market. The
deal calls for UBS to restart the trading business, including
EnronOnline, with the help of 830 former Enron workers. However, even
if the deal does get the  court's approval, there is still some
question among marketers and traders as to whether a revitalized
trading operation could recapture the dominant market share Enron
held prior to bankruptcy.
-------------------------------------------------------------

????????????????Progas Storage Services, Inc

Was recently organized to offer specialized natural gas storage
services to marketers and end users servicing the upper Midwest and
Northeast market regions along the major transmission systems in
Indiana, Illinois, Kentucky, and Michigan. PGSMI has 10 bcf of
potential working capacity which will offer service along TXG, ANR,
Midwestern, and is currently evaluating for purchase another 21 bcf
of potential working capacity which can be serviced by these and
other systems in the region. PGSMI also explores for natural gas in
the Gulf Coast region through a wholly owned subsidiary. Progas
intends to go public through a route of private industry offerings,
and an IPO or registration. For more information on services or the
company mail to: gastorage@aol.com or for AOL mail to
gastorage@aol.com;
The company's executive and administrative office is located in
Abilene, Texas with storage operations in Owensboro, KY and
exploration operations in Corpus Christi, TX.
Vist our website http://www.progas.net/wip
Progas Storage Services, Inc?
8610 S. Hwy 277
Abilene, TX 79606

Ph 915 698 3699
Fx 915 698 2859
-------------------------------------------------------------
President Urges Senate to Act on National Energy Plan

    In an address in New Orleans, President Bush said that it was a
matter of national security for the US to have a National Energy
Package. The president urged the Senate, where energy legislation is
currently stalled, to take immediate action to pass a National Energy
Plan. The president's remarks come prior to Congress reconvening next
week after the holiday recess. The White House, labor and business
leaders support the development of resources in ANWR to increase
energy independence, national security and create over 755,000 jobs.
Opening the ANWR could double the current domestic supply of oil and
make the US far less reliant on foreign sources for its energy needs.
The US Geological Survey reports that the 1.5 million-acre tract
holds upwards of 16 billion barrels of recoverable oil, which is the
energy equivalent of 17.7 billion barrels of gasoline, enough to
supply the total US gasoline demand for nearly 6 years. Arctic Power,
an Alaskan-based non-profit organization that supports the opening of
ANWR says that Congress has debated ANWR for over 14 years and now it
is the responsibility of the Senate to face up to the realities of
the present situation. The 2,000 acres of the ANWR designated for
exploration could replace Iraqi imports for the next 70 years.
-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 dropped 59.88 points to 7584.02
The CRB Index added 1.32 points to 194.32
The US Dollar increased 0.16 points to 117.56
The Dow declined 211.46 points to 9712.27
The S&P 500 lost 18.62 points to 1127.57
The Nasdaq was down 56.47 points to 1944.44
February NYMEX Crude Oil fell 0.04 to 18.86
Canadian-US Exchange rose 0.0050 to 1.5947
-------------------------------------------------------------
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-------------------------------------------------------------
Washington DC
January 24, 2002
Spencer Abraham U.S. Secretary of Energy to address energy community
on
potential security and commerce threats. Also to speak will be key
directors
from the CIA, SPR, IEA, SPR and more. See complete
detail and register today at
http://www.wesc.org
-------------------------------------------------------------
Please welcome our advertisers by visiting these websites.
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http://www.fea.com/
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http://www.progas.net/wip
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http://www.energyseminars.com
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http://www.rwbeck.com
http://www.NewEnergyAssoc.com

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/


You are kind - and that's one of the things that I love about you!  I suppose
that we should get serious about the dinner for Mom and Dad, since it is two
months away.  I will be glad to handle invitations.  I will look for some
this week and coordinate with Mom on final names and addresses.  Cara had
sent an e:mail a few weeks ago with some detailed questions to answer.  I
still have a copy of it, but haven't focused on it to date.  I will call you
tonight and we can go through it and offer to Cara to follow up with
Josephine's House if that would help her given her current charge at home.
--Sally

"Cindy White" <cwhite@viviance.com> on 04/03/2001 09:28:33 AM
To: <Sally.Beck@enron.com>
cc:
Subject: RE: FW: Truth in 13 words

I actually think you look young in those pictures--you are way too
critical!!!

-----Original Message-----
From: Sally.Beck@enron.com [mailto:Sally.Beck@enron.com]
Sent: Tuesday, April 03, 2001 9:23 AM
To: cwhite@viviance.com
Subject: Re: FW: Truth in 13 words

Exactly!  Mom sent me the pictures from the hospital with Anna.  I could
easily be mistaken for her grandmother, I'm afraid.  I see pictures of
myself and wonder who that older person is?!?  --Sally

"Cindy White" <cwhite@viviance.com> on 04/03/2001 09:14:22 AM

To:   "Sister Sally" <sally.beck@enron.com>
cc:
Subject:  FW: Truth in 13 words

Sally...

We got this yesterday from a friend of Richard's--it made me giggle...see
you soon!

Cindy

<<
 Inside every older person

 is a younger person

 wondering what the fuck happened.
  >>


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 09/08/2000
05:04 PM ---------------------------

"Andreas Simou" <andreas@garpmail.com> on 09/06/2000 11:01:11 AM
To: <hansruedi.schuetter@csg.ch>
cc:
Subject: The GARP 2001 Convention

Dear GARP 2001 Speaker
?
Just a gentle reminder that the information I  requested for your
presentation at the GARP 2001 Convention,  was due in today. Can I please
have this information by Friday 8th  September so that I will have adequate
time to include all the details  in the brochure, which is due to go to press
very shortly.

The  information that I require as soon as possible is as follows:
1. confirmation of professional details (including  the speaker's name, job
title, and organisation)
2. confirmation that the topic title is accurate  and to your liking
3. bullet points for your presentation (up to 5 to  6 bullet points - please
as technical and detailed as possible)
4. contact details (including telephone numbers,  fax no, colleague/PA, full
address)
?
If you have any questions please do not hesitate to  contact me, otherwise I
look forward to receiving the above information by  Friday 8th September.
?
Kind regards
?
Andreas

____________________________
Andreas  Simou
GARP 2001 - Conference Producer
Tel? +44 (0) 20 7626  9301
Fax +44 (0) 20 7626 9900


Thanks, having a good time.  Aloha!
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


(See attached file: hpl0804.xls)

 - hpl0804.xls


Please tell me that this isn't the morale booster.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/17/2001 05:10
PM ---------------------------

Becky Spencer@ECT
04/17/2001 04:58 PM
To: Alan Aronowitz/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Sandi M
Braband/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT,
Harry M Collins/HOU/ECT@ECT, Peter del Vecchio/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT,
Wayne Gresham/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Leslie
Hansen/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT, Anne C Koehler/HOU/ECT@ECT, Dan
Lyons/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT, Lisa
Mellencamp/HOU/ECT@ECT, Janet H Moore/HOU/ECT@ECT, Janice R
Moore/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, David
Portz/HOU/ECT@ECT, Michael A Robison/HOU/ECT@ECT, Elizabeth
Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Lance
Schuler-Legal/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Carol St
Clair/HOU/ECT@ECT, Lou Stoler/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Sheila
Tweed/HOU/ECT@ECT, Steve Van Hooser/HOU/ECT@ECT, Ann Elizabeth
White/HOU/ECT@ECT, Stuart Zisman/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Bob
Carter/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, James
Grace/Corp/Enron@ENRON, Kay Mann/Corp/Enron@Enron, John
Viverito/Corp/Enron@Enron, Michelle Blaine/ENRON@enronXgate, Gail
Brownfeld/ENRON@enronXgate, Robert Bruce/NA/Enron@Enron, Dominic
Carolan/Enron@EnronXGate, Mary Cook/HOU/ECT@ECT, Nancy
Corbet/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Ned E
Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eddy Daniels/NA/Enron@Enron,
Angela Davis/NA/Enron@Enron, Andrew Edison/NA/Enron@Enron, Roseann
Engeldorf/Enron@EnronXGate, Robert H George/NA/Enron@Enron, Mark
Greenberg/NA/Enron@ENRON, Brent Hendry/NA/Enron@Enron, Cheryl
Nelson/NA/Enron@Enron, Marcus Nettelton/NA/Enron@ENRON, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Powell/CAL/ECT@ECT, Coralina
Rivera/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Daniel R
Rogers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carlos Sole/NA/Enron@Enron, Randy
Young/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT, Kimberlee A
Bennick/HOU/ECT@ECT, Genia FitzGerald/HOU/ECT@ECT, Nony Flores/HOU/ECT@ECT,
Linda R Guinn/HOU/ECT@ECT, Ed B Hearn III/HOU/ECT@ECT, Mary J
Heinitz/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Deb Korkmas/HOU/ECT@ECT, Matt
Maxwell/Corp/Enron@ENRON, Laurie Mayer/HOU/ECT@ECT, Mary Ogden/HOU/ECT@ECT,
Debra Perlingiere/HOU/ECT@ECT, Robert Walker/HOU/ECT@ECT, Kay
Young/HOU/ECT@ECT, Merrill W Haas/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron,
Martha Braddy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Sarah
Bruck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Kathleen Carnahan/NA/Enron@Enron,
Diane Goode/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron, Kaye
Ellis/HOU/ECT@ECT, Twanda Sweet/HOU/ECT@ECT, Brenda Whitehead/HOU/ECT@ECT,
Linda J Simmons/HOU/ECT@ECT, Dina Snow/Corp/Enron@Enron, Janette
Elbertson/HOU/ECT@ECT, Carolyn George/Corp/Enron@ENRON, Suzanne
Adams/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Connie
Castillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Margaret
Doucette/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Keegan Farrell/NA/Enron@Enron,
Esmeralda Gonzalez/ENRON@enronXgate, Vanessa Griffin/ENRON@enronXgate, Holly
Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, MaryHelen
Martinez/NA/Enron@Enron, Becky Spencer/HOU/ECT@ECT, Stephanie
Truss/Enron@EnronXGate, Martha Keesler/ENRON@enronXgate, Theresa
Zucha/NA/Enron@Enron
cc:

Subject: Happy Hour Invitation


BOO!  Anyone there?  Chrisy is back at work now.


- internet.com's -
M A R K E T  C L O S E

By Paul Shread (mailto:pshread@internet.com)
http://www.isdex.com

http://www.internetstockreport.com/close/article/0,1785,1701_777391,00.html

___________________________ Sponsors ________________________________

This newsletter sponsored by: internet.com Careers Channel
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Stocks Gain On Hope Of Further Rate Cuts

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The internet.com Careers Channel is powered by dice.com,
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June 1, 2001 - Stocks rose Friday on hope that the latest economic reports
could mean further rate cuts by the Federal Reserve. Traders shook off
more negative news from Cisco.

The ISDEX http://www.wsrn.com/apps/ISDEX/ rose 5 to 258, and the Nasdaq
climbed 38 to 2149. The S&P 500 added 4 to 1260, and the Dow rose 78 to
10,990. Volume edged higher to 1.16 billion shares on the NYSE, but
declined to 1.53 billion on the Nasdaq. Advancers led 18 to 12 on the
NYSE, and 21 to 15 on the Nasdaq. For earnings reports, visit our earnings
calendar at http://www.wsrn.com/apps/earnings/internet.xpl and reported
earnings at http://www.wsrn.com/apps/earnings/ireported.xpl. For after
hours quotes and news, visit our after hours trading site at
http://www.afterhourstrading.com.

The employment report came in slightly stronger than expected, with a loss
of 19,000 jobs in May, and the unemployment rate came in at 4.4% instead
of the 4.6% expected by analysts. But at least one economist said the drop
in the unemployment rate could be due to some people giving up on finding
work. A weaker than expected National Association of Purchasing Management
survey provided fresh evidence that manufacturing remains in recession.

Cisco (NASDAQ:CSCO), off .49 to 18.77, set tech stocks back with this
quote from its latest SEC filing: "The recent slowdown in the general
economy, changes in the service provider market, and the constraints on
capital availability have had a material adverse effect on many of our
service provider customers, with a number of such customers going out of
business or substantially reducing their expansion plans. These conditions
have had a material adverse effect on our business and operating results,
and we expect that these conditions will continue for the foreseeable
future."

Openwave (NASDAQ:OPWV) cleared 40 resistance once again, surging 2.61 to
40.94 on positive comments from Robertson Stephens and rumors of an
impending investment from NTT DoCoMo.

Palm (NASDAQ:PALM) rose .70 to 6.33 on management comments that business
and market share have been improving with the introduction of the m500.

Novellus (NASDAQ:NVLS) rose 2.50 to 50.40 after saying its quarter is on
target. Altera (NASDAQ:ALTR) managed to gain 1.11 to 25.11 on an earnings
warning.

Intel (NASDAQ:INTC), up 1.69 to 28.70, and AMD (NYSE:AMD), up 1.35 to
29.60, rose on Robertson Stephens comments that motherboard demand is
stabilizing.

Sapient (NASDAQ:SAPE) slipped .09 to 9.48 on negative comments from CS
First Boston.

Some technical comments on the market: Note: We include charts in the
technical market commentary. If you can't get the charts via the e-mail
newsletter version, try this link:
http://www.afterhourstrading.com/column.html

Nice recovery today. Monday is another cycle turn date, so the turn may
have come today, or it could arrive any time Monday or Tuesday. Given
today's low-volume gains, that turn could still be down. As long as the
S&P 500 holds 1200 support and the Nasdaq holds 2000, the market looks
okay; below those levels, a retest of the lows becomes likely. The Dow
(first chart) closed just below the important 11,000 level, but the
ability to recover off this week's lows makes for a much nicer looking
weekly candlestick than the index was sporting two days ago. 11,000 is
critical resistance, and the index has support about every 100 points
starting at 10,900. The Dow would trade with a negative bias below 10,600.
The S&P 500 (second chart) once again turned back at the important 1265
level, the neckline of a potential inverted head-and-shoulders bottom. The
index could find support in the 1218-1242 range. One positive is that the
Nasdaq (third chart) is now firmly back above its September downtrend
line, which is now around 2080-2100. 2052-2060 is the next support below
2080-2100. The Nasdaq 100 (fourth chart) is sitting right above important
support at 1740-1760.

Special report: For a free introduction to technical chart patterns and an
overview of last year's action in the stock market, visit
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I read Wednesday's NGPL order (RP00-18-002) as applying only to NGPL due to
their unique restrictions and tariff rules.  I do not read it as forcing the
rest of the industry (i.e., us) to use the floor rate as the reserve price
for negotiated index rate bids and ordinary recourse rate bids.  I think we
can still determine the reserve price on a prearranged deal like the ENA deal
based on our good faith valuation of the upside provided by the index
mechanism.  I.e., on that type of deal, we can determine that the index
mechanism is worth "x cents" to us and require a discounted recourse rate
bidder to bid more than the floor plus x cents to win.  Agreed?

Note that NGPL whined that the unique rules they are subject to place them at
a competitve disadvantage to the rest of the industry (i.e., us) on this
issue.  The commission didn't say anything about that, implying to me that
the rest of us are still free to do what NGPL cannot do.   DF


How about 1:30 today on 32 in the Texas Gas Trading Area.

Dale Neuner   06/23/2000 11:07 AM

To: Steve Venturatos/HOU/ECT@ECT
cc: Sheri Thomas/HOU/ECT@ECT
Subject: Re: New EOL Product

We should sit and discuss the processes involved in creating new,
unprecedented Product Types in EOL, as I think it is important for you to
understand the myriad of processes involved. To start with, Legal will
absolutely need to be involved, as it sounds like a new GTC  is in order.

Please call either Sheri Thomas or I when you are ready to discuss the new
Product.

Dale

	Enron Capital & Trade Resources Corp.

	From:  Steve Venturatos                           06/23/2000 10:35 AM

To: Dale Neuner/HOU/ECT@ECT
cc:
Subject: Re: New EOL Product

It is a totally new product.

Dale Neuner   06/23/2000 09:43 AM

To: Steve Venturatos/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT
cc:
Subject: Re: New EOL Product

Steve -

One issue that immediately comes to mind is the 'General Terms and
Conditions' ability to handle intra-day nominations. .This may require a new
Product Type and GTC.

Are we presently trading this product OTC, or is this unprecedented?

Dale

To: Dale Neuner/HOU/ECT@ECT
cc:
Subject: New EOL Product

---------------------- Forwarded by Melba Lozano/HOU/ECT on 06/23/2000 09:30
AM ---------------------------

	Enron North America Corp.

	From:  Steve Venturatos                           06/23/2000 09:29 AM

To: Sheri Thomas/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT
cc:
Subject: New EOL Product

We are finalizing plans to introduce a new gas products(s) for July.  The
product(s) would be an hourly product either 5x8 or 5x12 or 5x16.
Even though we have not decided which product to introduce, I thought I would
give you a heads up to keep you in the loop.


Under separate cover I am having walked up to you a marked-up sample Timber
Management Agreement that the harvester we have chosen, Southern
Timbergrowers, Inc., offers as its standard document.

HPL has selected this harvester based upon their "full-service" program as
well as their reputation and their expertise.  However, we would like some
language in the Agreement concerning Agent's full disclosure to Client of the
prices in the marketplace (I believe this is probably covered by the Agent's
responsibility to submit bids to Client for approval, but we would also like
Agent's forecast of prices to come so as to make the best decision possible
for optimum harvest revenues).  We would like to limit the first term
hereunder to one year, renewable upon mutual negotiation at which time we may
incorporate some type of incentive or penalty to further control the revenues
from the harvest if we deem is necessary.  We would also contemplate the
Agent's services on counseling us and providing the seedlings we would desire
to further populate our land out there for future harvesting as well as
present amenities.  Our desire is to create an ongoing relationship with the
Agent so that we may have a fairly steady revenue stream for this property
that would at least balance out the costs of continual seedling planting and
desirably a good deal better than that.

Please let me know when you may be free to discuss this as I would like to
meet with you or your designee to discuss these provisions at length.  I have
already notified Southern Timbergrowers that they are our selected agent so
we need to move along on this as quickly as possible.

Thanks, Gerald!

Candy


Dear Advisory Board Member,

Thank you for your continued support of NACECs Initiative "Environmental
Challenges and Opportunities of the Evolving Continental Electricity Market".

Please find attached the following documents for your review and to be
further discussed during the conference call Thursday May 24 at 3:00 EST.

1) an Interim Note for the Secretariat report
2) a draft recommendations checklist (for initial discussion)
3)  a list of the advisory board members and bios (please note that we have
shortened some of the bios, if you have yet to submit a bio please send a
copy to yolanda@ccemtl.org )

Items to be discussed during conference call:
I) Secretariat update - progress, expert report, symposium
II) Process and approach for developing guidelines/recommendations
III) Initial discussion of guidelines/recommendations
IV) 2nd Advisory Board meeting date and venue

Details of the conference call:

Participants from Canada and the United States should dial:
1-877-633-5353 (toll free)

Participants from Mexico should dial:
0-1-800-123-0200 and ask the operator to charge this telephone call to the
telephone number: (1-514) 868-2558

then enter the following Code: 023405#

If there is any problem with the communication during the call  please dial *0
(Conference call reference: C799250)

On behalf of my colleagues at NACEC,
Sincerely,

Yolanda Clegg

Yolanda Clegg, M.Sc.
Environment, Economy and Trade Program
North American Commission for Environmental Cooperation
393 rue St-Jacques Ouest, bureau 200
Montreal
Quebec
CANADA         H2Y 1N9

tel: 514-350-4368
fax: 514-350-4314
yolanda@ccemtl.org

http://www.cec.org

 - Interim Note.doc
 - Recommendations checklist.doc
 - Members and Bios.doc


Grab Gus Frerotte!
?
As a followup to our followup today on Griese,  ESPN's John Clayton has
more.? He's reporting that backup QB Gus Frerrotte  has been told he needs to
be ready to play for the rest of the season.?
?
Don't panic yet as it'll be a couple of days still  before they know exactly
what they're dealing with. But the bottom line is this  seems to be getting
worse by the minute.
?
I'm not a?huge Frerotte fan but if he winds up  starting, he'll be handed the
keys to one of the more prolific offenses in the  league.? Between Mike
Shanahan and Offensive Coordinator Gary Kubiak,  that's a great brain trust.?
A healthy Terrell Davis, 2 great WRs and 3 TEs  that are all effective make
for a nice system.
?
We'll stay on this for you.
?
Joe
?
?
Here's the full article from ESPN's Clayton for  more detail.?
http://espn.go.com/nfl/news/2000/1114/877559.html??
?
While not issuing an update on the injury Tuesday,  the Denver Broncos were
fearful enough of losing quarterback Brian Griese because of his separated
throwing shoulder that they told backup Gus Frerotte to be ready to play the
rest of the season, ESPN.com's John Clayton reported.
?
Griese's injury is officially listed as a separated  AC joint. The Broncos
said Tuesday they aren't likely to know about their  quarterback's
availability for Sunday's game against San Diego until later in  the week.

Griese was injured in the first quarter of  Denver's 27-24 win over Oakland
on Monday night, but he returned to the lineup  and helped engineer the
victory.

"We won't know for a couple of days the exact  extent of the injury," coach
Mike Shanahan said. "We'll wait to see how sore he  is."

Broncos owner Pat Bowlen said Griese could be out  a "significant period of
time," adding, "It looks bad."

Asked after the game if he expected to play  against the Chargers, Griese
said, "I don't know. I can't tell you what's going  to happen, what my
availability will be for next week. I've never had an injury  like this, but
I'm going to do my best to come back and play."

Griese already was playing with torn cartilage in  the same shoulder, which
will require off-season surgery. He insisted the two  injuries are unrelated.

 To unsubscribe from this group, send an email to:
cheatsheets-unsubscribe@egroups.com


Vince,

FYI.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on
01/19/2001 05:12 PM ---------------------------

From the Enron India Newsdesk- Jan 18th newsclips

Untie Them (Editorial)
Thursday Jan 18 2001, http://www.economictimes.com/today/18edit02.htm
------------------------------------------------------------------------------
-------

State not to give tax sops to DPC for buying naphtha from IOC, (Sanjay Jog)
 Thursday Jan 18
2001,http://financialexpress.com/fe/daily/20010118/fec18056.html
------------------------------------------------------------------------------
-------

Centre yet to receive proposal on Enron
Thursday Jan 18 2001, http://www.economictimes.com/today/18infr02.htm

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

Untie Them (Editorial)
Thursday Jan 18 2001

THE GOVERNMENT of Maharashtra wants New Delhi to convince the Power Trading
Corporation, a central utility, to buy power from Dabhol and sell it across
the country.It would be far simpler if Dabhol  and all independent power
producers  were allowed to sell power to whoever was willing to pay for
it.That, unfortunately, is not allowed by law, which forces private sector
generators to sell power only to state utilities, which in turn, are not
permitted to sell power across states on their own.

Most state electricity boards are bankrupt . MSEB reportedly owes central
utilities Rs 5,000 crore. They cannot bring themselves to charge many types
of users for the power consumed, nor can they prevent large-scale theft of
electricity. Few, including wealthy Maharashtra, have the will to reform
state electricity boards and privatise transmission and distribution. Given
this profile of buyers, private generators demand sovereign guarantees to
help them tide over default risks. But the guarantees merely insulate IPPs
against risk. They cannot make SEBs solvent. Yet, India needs power
desperately. Maharashtra, India,s richest state, experiences power shortages
of around 2,000 MW, about a sixth of its peak needs.

Over time, the hunger for power will only grow. India cannot afford to wait
for the painful politics of SEB reform to work themselves out. The government
should bring in legislation that allows IPPs to sell power directly to paying
customers.This will free IPPs from the clutches of bankrupt monopsony buyers.
The power trading legislation will have unexpectedly happy consequences for
the government too.Once IPPs are freed from their onerous obligations to sell
power to single, mostly bankrupt buyers, their default risks will come down
substantially. New Delhi and state governments should then scrap the
guarantees that they gave IPPs in the past.
The combination of power trading, private investments in generation,
transmission and distribution, and gradual SEB reform  will create a
commercial, workable and competitive power market in India. Anything less
will be a recipe for disaster.

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

State not to give tax sops to DPC for buying naphtha from IOC, (Sanjay Jog)
 Thursday Jan 18 2001

The Maharshtra government's finance department, which is striving to reduce
fiscal deficit from Rs 9,484 crore to Rs 3,484 crore by the beginning of
April this year, has expressed its inability to provide a sales tax waiver to
the Dabhol Power Company (DPC) on the procurement of 1.2 million tonne of
naphtha from the state-run Indian Oil Corporation (IOC).

Mantralaya sources told The Financial Express on Wednesday that DPC would
have to pay 4 per cent sales tax. "The government, way back in 1995, has
modified the sales tax rate to 4 per cent to discourage the import of naphtha
from Gujarat by electrical companies operating in Maharashtra. The decision
was taken with a view to encouraging electrical companies to procure naphtha
at reduced rates within the state," government sources added. Sources said
that these companies had to pay nearly 15.3 per cent sales tax on naphtha
that was procured from Gujarat. However, following their representation, the
government slashed the sales tax rate to 4 per cent.

The state finance department's opinion, which would be presented before the
state cabinet shortly in order to take a final decision, deserves special
significance especially when the state energy department and the loss-making
Maharashtra State Electricity Board (MSEB) have wholeheartedly supported the
DPC's cause and recommended the sales tax waiver. DPC, which was asked by the
Union ministry of oil and petroleum to procure naphtha within the country in
view of excess availability, in its presentation to the state government and
to MSEB, had made it clear that it would be left with no alternative but to
pass on the additional burden on the MSEB which would be ultimately passed on
to its consumers. DPC had also told the state government that it had not paid
sales tax on the procurement of naphtha from Glencore in the calender year
2000.

Sources from the state energy department and MSEB have stressed on the need
for such a waiver while expressing their inability to bear additional burden.
They have suggested that the state should reciprocate by offering a sales tax
exemption to DPC because the IOC, at the behest of the Centre, has tried to
match the international landing price of naphtha during the recently signed
memorandum of agreement with DPC. "If the state finance department sticks to
its views, it may hurt the state as a whole," sources from the state energy
department and MSEB said.DPC will procure naphtha at Rs 11,050 per ton from
IOC during the calender year 2001 as compared to the Rs 10,050 per tonne
price quoted by Glencore. The naphtha price comprises $175 per tonne free on
board (FOB), 21.8 per cent of customs duty, 5.4 per cent of sales tax and
$18.87 of premium.

DPC senior vice president Mukesh Tyagi reiterated that the company has
already made an appeal to the state government for the sales tax waiver on
naphtha in the larger interest of the consumers. "Sales tax is a pass through
and MSEB, which will have to bear the additional burden, will pass it on the
consumers," he added.
------------------------------------------------------------------------------
-------

Centre yet to receive proposal on Enron
Thursday Jan 18 2001

CENTRE on Wednesday said that it had not recevied any proposal from
Maharashtra government seeking help to solve the tangle with the Enron
promoted Dhabol Power Project relating to cost and surplus power. Asked about
the reports that Maharashtra government was sending a proposal that centre
buy surplus power from Dhabol Power Company through power trading
corporation, power minister Suresh Prabhu said "we have not received any
proposal." "We are carefully watching the situation and will await a concrete
proposal before intervening in this matter," Parbhu said on the sidelines of
greentech environment excellence awards ceremony, here. Asked whether there
was any possibility of the government asking the Power Trading Corporation to
buy power from the Dhabol Power Corporation, Prabhu replied "what will the
PTC do with the power?"

Prabhu had earlier asked the state government to study the matter before
approaching the centre for payment of dues. MSEB had earlier declined to pick
up its 15 per cent stake in phase II of the 1444 mw project. The Enron issue
has been hanging fire with the Maharashtra State Electricity Board unable to
clear the dues of DPC as a result of the skyrocketing prices of Naphtha
infact MSEB has asked DPC to backdown completely leading to a situation where
DPC has stopped production at the facility from the begining of the
month.State government has stepped in with support to the tune of Rs 114
crore to enable MSEB to clear the dues for October. MSEB dues to DPC for
November and December amount to over Rs 300 crores.


To All

I recieved this message from Kerri Thompson in confirms.  Please make a note.

"Since i do not have any summarys from natsource from monday and tuesday, there is no way for me to know if i am missing any trades.  please relay this to the traders to ensure all deals are put in.  it could be days before i receive any summarys and missing confirms."

thanks,

kerri

Kysa M. Alport
Enron North America
(O) 503-464-7486
(C) 503-706-5308


Notice No. 00-370
November 17, 2000

TO: ALL NYMEX AND COMEX DIVISION MEMBERS

FROM: Neal L. Wolkoff, Executive Vice President

DATE:  November 17, 2000

RE: Notice of CFTC Approval of Amendments to NYMEX Rule 6.21C and Related
Implementation of Electricity EFS Program
____________________________________________________________________

Please be advised that the CFTC has approved amendments to NYMEX Rule 6. 21C
("EXCHANGE OF FUTURES FOR, OR IN CONNECTION WITH, SWAP TRANSACTIONS FOR
FUTURES CONTRACTS TRADED ONLY ON VIA NYMEX ACCESS").  The amendments, which
are shown below, permit the exchange of futures for swaps ("EFS") for NYMEX
Division electricity futures contracts.  The EFS program for electricity
futures will go into effect on Monday, November 27, 2000.

 One change from the terms of the rule should be noted.  Rule 6.21C provides
for report of EFS transactions to be given to the Exchange "via NYMEX
ACCESS."  However, this functionality still needs to be added to NYMEX
ACCESS.  Therefore, the Exchange,s current procedures instead provide for
reporting EFS transactions to Exchange Floor Dept. staff located in the Late
Submissions Area on the NYMEX trading floor in the same manner as the
reporting of EFP transactions. Such reports of EFS transactions would be
subsequently disseminated to NYMEX ACCESS System Users through a bulletin
message sent via NYMEX ACCESS.

 As a reminder, it is necessary for market participants to comply with the
CFTC,s EFP-related reporting and recordkeeping regulations as if these
regulations applied to EFS transactions.  Specifically, the Exchange will
require:

1) Each Exchange member, futures commission merchant ("FCM"), and introducing
broker ("IB") to comply with the requirements of Commission Regulation
1.35(a) as if this regulation applied to EFS transactions and will further
require each Exchange member, FCM, and IB to provide the required records to
the Exchange for inspection upon request;

2) Each customer to comply with the requirements of Commission
Regulation1.35(a-2)(2) as if this regulation applied to EFS transactions and
will further require each customer to provide the required records to the
Exchange for inspection upon request;

3) Each Exchange clearing member, FCM, and foreign broker to comply with the
requirements of Commission Regulations 17.00(a)(1) and (2) as if these
regulations applied to EFS transactions, and NYMEX will further require each
Exchange clearing member, FCM, and foreign broker to file the required
records with the Exchange;

4) Each trader who holds or controls a reportable futures position to comply
with the requirements of Commission Regulation 18.05 as if this regulation
applied to EFS transactions, and NYMEX will further require each trader to
provide the required records to the Exchange for inspection upon request; and

5) Upon the request of the Commission, each FCM, IB, foreign broker, and
trader to comply with the requirements of Commission Regulations
24.03(e)(1)(iii) and (e)(2)(iv), and NYMEX will further require each FCM, IB,
foreign broker, and trader to file the required records at the place and
within the time frame specified by the Exchange.

  If you have any questions concerning the operation of this program, please
contact Rick Taibi, Assistant Director, NYMEX ACCESS Operations, NYMEX ACCESS
Department, at (212) 299-2677, or George Henderson, Vice President, Floor
Department, at (212) 299-2071.

APPROVED AMENDMENTS TO NYMEX RULE 6.21C

(Brackets indicate additions.)

Rule 6.21C.  EXCHANGE OF FUTURES FOR, OR IN CONNECTION WITH, SWAP
TRANSACTIONS FOR FUTURES CONTRACTS TRADED ONLY ON VIA NYMEX ACCESS

 (A) (1) An exchange of futures for, or in connection with, a swap (EFS)
consists of two discrete, but related, transactions; a swap transaction and a
futures transaction.  At the time such transaction is effected, the buyer and
seller of the futures must be, respectively, the seller and the buyer of the
swap.  The swap component shall involve the commodity underlying the futures
contract (or a derivative, by-product or related product of such commodity).
The quantity covered by the swap must be approximately equivalent to the
quantity covered by the futures contracts.  The swap component of an EFS
transaction must comply with the requirements of Commission Regulation Part
35 (Exemption of Swap Agreements).  The initial term of the pilot program
shall be three years from the effective date of this Rule 6.21C.

(2)The pilot program is available only to commercial market participants. For
purposes of this rule, a "commercial market participant" shall include a
person or entity that transacts business in the normal channels of commerce
in the cash commodity or related commodity underlying the EFS posted on the
Exchange and also shall include an entity that regularly maintains a book of
and acts as a dealer in swap transactions.

(B) The report of an EFS transaction involving a futures contract that is not
listed for trading on the Exchange trading floor and instead is listed for
trading only on NYMEX ACCESS shall be given to the Exchange via NYMEX ACCESS
during the hours of trading on NYMEX ACCESS for that futures contract.

(C) A report of such EFS transaction shall be submitted to the Exchange by
each Clearing Member representing the buyer and/or seller.  Such report shall
identify the EFS as made under this Rule and shall contain the following
information: a statement that the swap component of the EFS complied with the
requirements of Part 35 at the time the EFS was entered into between the
buyer and seller, a statement that the EFS has resulted or will result in a
change of payments or other such change, the kind and quantity of the
futures, the price at which the futures transaction is to be cleared, the
names of the Clearing Member(s) and customers and such other information as
the Exchange may require.  Such report (form) shall be submitted to the
Compliance Department by 12:00 p.m. New York time, no later than two (2)
Exchange business days after the day of posting the EFS via NYMEX ACCESS.

(D) Each buyer and seller must satisfy the Exchange, at its request, that the
transaction is a legitimate EFS transaction.  Upon the request of the
Exchange, all documentary evidence relating to the EFS, including a master
swap agreement and any supplements thereto, shall be obtained by the Clearing
Members from the buyer or seller and made available by the Clearing Members
for examination by the Exchange.

(E) A report of each EFS transaction shall be given and notice thereof shall
be posted on NYMEX ACCESS in the manner provided by the Exchange on the day
that the transaction thereto was made, or if such agreement was made after
the close of trading, then on the next business day.  EFS transactions shall
be cleared through the Exchange in accordance with normal procedures, shall
be clearly identified and marked in the same manner as EFP transactions, and
shall be recorded by the Exchange and by the Clearing Members involved.

(F) All omnibus accounts and foreign brokers shall submit a signed EFS
reporting agreement in the form prescribed by the Exchange to the Exchange's
Compliance Department.  Such Agreement shall provide that any omnibus account
or foreign broker identified by a Clearing Member (or another omnibus account
or foreign broker) as the buyer or seller of an EFS pursuant to Rule
6.21C(C), shall supply the name of its customer and such other information as
the Exchange may require.  Such information shall be submitted to the
Exchange_s Compliance Department by 12:00 p.m. New York time no later than
two (2) Exchange business days after the day of posting the EFS on the Floor
of the Exchange.  Failure by an omnibus account or foreign broker to submit
either the agreement or the particular EFS information to the Exchange may
result in a hearing by the Business Conduct Committee to limit, condition or
deny access of such omnibus account or foreign broker to the market.

(G) The Board  may, by resolution, authorize the posting of EFS transactions
in any or all of the
futures contracts specified below.

Futures Contract   EFS Reporting Deadline for Expiring Contract

Middle East Sour Crude Oil   An EFS is permitted in the expiring futures
contract  of the Middle East Sour Crude Oil futures contract at any time
before 12:00 p.m. New York time on the last business day of the contract
month, provided, however, that an EFS which establishes a futures position
for both the buyer and the seller shall not be permitted after the
termination of trading.

[ Electricity Futures   An EFS is permitted in an expiring electricity
futures contract at any time before 10:00 a.m. New York time on the first
business day following termination of trading in the applicable futures
contract month provided, however, that an EFS which establishes a futures
position for both the buyer and the seller shall not be permitted after the
termination of trading for that contract month.]

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(00-370)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


As we have discussed at the Board level as well as in Management Commitee, the default swap market is extremely illiquid.  While it is true that ENE is one of the most liquid names in the market, the entire market would move based on an order of $40 to $50 MM.  We have heard that there have been standing sell orders in the market totalling approximately $150 MM which have yet to be absorbed, it could be that the prices moved significantly in order for those sellers to find a buyer.

While this market is an important datapoint in evaluating the credit markets view of our name, it is not the sole determinant.  It is important to note that secondary trading levels of our bonds (a far more liquid market and accurate indicator of our ability to raise incremental capital) have only widened 5 - 10 basis points over the course of the day.

While I would very much like to tighten the spreads in the default swap market, I think that we need to keep those price markers  in perspective.  Having said that, anything we can do to support the credit and tighten those prices ultimately helps in our ability to raise debt in all markets.

Ben

 -----Original Message-----
From: 	Seyfried, Bryan
Sent:	Tuesday, October 16, 2001 1:35 PM
To:	Whalley, Greg; Lay, Kenneth; Frevert, Mark; Fastow, Andrew; Glisan, Ben; Koenig, Mark
Cc:	Sherriff, John
Subject:	 reaction from the credit markets on the earnings call

John thought you might be interested in the following from the credit markets....

Play by play during the call on the 5yr Enron Credit Default Swaps from Morgan Stanley:

1.  5Y BIDS GETTING HIT ON OPENING AS EARNINGS NEWS LOOKED LIKE
    CLEANING HOUSE.  250.
2.  DURING THE CONFERENCE CALL; WHICH APPARENTLY WAS UNCLEAR,
    TICKED OUT 255,260,265.
3.  LAY INDICATED NEAR END OF CONFERENCE "NO RATINGS ACTION
    ANTICIPATED".   MINUTE CONFERENCE ENDED MOODY'S WATCH NEWS
    RELEASED.  280 BID.
4.  LAY ALSO MENTIONED 3Q NEG CASH FLOW DUE TO SOME CONTRACT
    ROLLOFF.  UNCLEAR MESSSAGE.
5.  ENE SAYS COMMITTED TO "INV GRADE" RATHER THAN "A"  280/325

Summary from Morgan Stanley after the call:

CREDIT DERIVATIVE UPDATE:  ENRON CORP

AFTER THE NEWS THIS AM ($1 BIL. CHARGE), THE COMPANY HOSTED A
CALL AT 10AM NY TIME.   THE CALL DID NOT GO WELL & ENRON SPREADS
ARE HEADING WIDER IN CREDIT DERIVATIVE LAND.  MKTS ARE SPOOKED
B/C:  1) MOODY'S WATCHLISTED CO NEGATIVE, 2) ENE STATED "THEY
ARE COMMITED TO INVESTMENT GRADE RATING," WHICH IS A CHANGE FROM
THE SINGLE-A BOGEY THEY ONCE EXTOLED, 3) CO. DID NOT ADDRESS ALL
LIQUIDITY CONCERNS, AND 4) MORE CHARGES COMING?
5YR MARKETS:

      ENE (PRE-WTC):   165/185        ENE (8AM TODAY): 240/260
      ENE (WEEK AGO):  250/300      **ENE NOW:         275/350

Clearly the above are a function of what people think they heard...I did not alter any of the email.  In general MSDW likes Enron credit but this is how they see the market.  Enron is one of the most actively traded names in the credit derivative market.  Let me know if you want updates as the market gets more clarity and works throught the details


See Cindy's email from 7/23


David,  I will have this re-reviewed by Oregon counsel, but it was scrubbed
about 18-24 months ago as being enforceable.  Thanks.  Michelle


This approval request is incomplete - it does not include the name of this
employee's manager.  I do not know the employee, and without the name of the
manager I can't possibly approve this.  Please get someone to complete this
request.
---------------------- Forwarded by Sally Beck/HOU/ECT on 09/20/2000 01:17 PM
---------------------------

From:  Information Risk Management/HOU/ECT

Subject: Your approval is requested

	Security Resource Request System
Application Approval
Please review and act upon this request. You have received this eMail because
you are listed as an approver on the original request.
			Instructions
For: 	Tracy Beardmore
Request	Original:
Application Name:	EOL - Risk Management
Request Type:	Grant
Role(s):	Application Product Data Manager
Comments:	Need read only access to EOL Bridge Monitor and Product Manager		Review the
request in the Request section at left.
			For more information regarding who the request is for, do the following:
			Click on the name for PeopleFinder info
			See the Further Information section below
			In the Approval Section, select Approve or Reject, enter comments as
necessary and click [Submit].

	Further Information

Requestor:			Tracy Beardmore/NA/Enron
Manager:
Request Date:	09/20/2000 08:51:58 AM
RC #:	1728	WO #:
Company #:	413	Priority:	Normal
General Comments:			Access to EOL Back Office Applications


The report named: CE P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=4&report_name=CE+P/L&category_cd=3&category_name=CENTRAL&toc_hide=1&sTV1=3&TV1Exp=Y&current_efct_date=10/29/2001>, published as of 10/29/2001 is now available for viewing on the website.


I have prepared  a recommendation letter as  you have requested.  It is my
pleasure to do so.  Please advise as to when to send, etc.  I am available to
visit on the phone any time after 2:3opm any day this week.  However, I will
be out of the office on Thursday and Friday Nov. 16-17.

From: Amr Ibrahim@ENRON_DEVELOPMENT on 11/06/2000 02:28 PM
To: Scott Neal@ECT
cc:
Subject: Request for a short phone call

Scott:

I hope that all is well.  India is still going strong with additional
involvement in commodity trading (electricity, fuels...etc.)

Please advice of the best time to phone you this week to seek your help in
reference to compiling letters of recommendation for the Green Card
application.  The application, supported by Enron, will be under the "Alien
of Extraordinary Ability" Category.   I am sure that your recommendation will
go a very long way and I am hopeful that you will agree to help.

I am enclosing the email I received from the lawyer and the sample letter
suggested. I am trying to highlight--where the lawyer indicated--the attempts
to safeguard and promote US investment in Argentina,  the rapport I had with
the various echelons of authority in that country, and shed light on
character and ability.  Please feel free to add/delete as you see fit and
advice of any comments and/or suggestions.

Needless to say, and regardless of outcome, I really appreciate your help and
advice.

Best regards

AI
713-839-3037

----- Original Message -----
From: Law Clerk 2 <lawclerk2@tindallfoster.com>
To: <amr_I@swbell.net>
Sent: Wednesday, October 25, 2000 11:36 AM
Subject: Sample letter of resommendation

> _______________
> Tindall & Foster, P.C.
> Email Message from Tamara D. Bruce
>
>
> Dear Mr. Ibrahim:
>
> Pursuant to your seeking Permanent residency through  the Alien of
> Extraordinary Ability Category, please find attached a sample letter of
> recommendation. Please forward this document to those you wish to write
your
> letters of recommendation for your application. The more recommendations
you
> can get, the better. Please ask them to place the letter on their
letterhead
> and to make any adjustment they so wish to make, returning to you. Once
you
> receive these letters of recommendation, please forward them to us to be
> included in your packet. Should you have any further inquiries, please do
> not hesitate to contact me
>
> Sincerely yours,
>
>  <<Sample letter of recommendation.doc>>
>
> Tamara Dawn Bruce
> Law Clerk
> Tindall & Foster, P.C.
> 600 Travis Street, Suite 2800
> Houston, Texas, 77002-3094
> Telephone: (713) 229-0636, ext. 1177
> Mobile: (281) 686-3809
> Fax: (713) 228-1303
> <mailto:Lawclerk2@tindallfoster.com>
> <http://www.tindallfoster.com/>
> _____________________________
>
>
> CONFIDENTIALITY STATEMENT:  This electronic message contains information
> from the law firm of Tindall & Foster, P.C. and may be confidential or
> privileged.  The information is intended to be for the use of the
individual
> or entity named above.  If you are not the intended recipient, be aware
that
> any disclosure, copying, distribution, or use of the contents of this
> message is prohibited.  If you have received this message in error, please
> notify us immediately by reply email or by telephone at (713) 229-8733 and
> delete the material from any computer.
> _____________________________
>
>
>

 - Sample letter of recommendation.doc


Summary of Enron On Line (EOL) Deals for Transwestern Pipeline  											26-Oct-01

	# of Deals		Total Volume		Reservation $		Commodity $		Total Revenue		Avg Rate		Avg Vol

Jan-01

Feb-01

Mar-01	2		20,000		 $        1,000 		 $             -   		 $         1,000 		 $  0.0500 		  10,000

Apr-01

May-01

Jun-01

Jul-01

Aug-01

Sep-01

Oct-01	1		465,000		 $       23,250 		 $             -   		 $        23,250 		 $  0.0500 		  15,000

Nov-01	1		600,000		 $       30,000 		 $             -   		 $        30,000 		 $  0.0500 		  20,000

Dec-01	1		310,000		 $       15,500 		 $             -   		 $        15,500 		 $  0.0500 		  10,000

2001 Totals	5		       1,395,000 		 $       69,750 		 $             -   		 $        69,750 		 $  0.0500 		  42,273
	# of Deals		Total Volume		Reservation $		Commodity $		Total Revenue		Avg Rate		Avg Vol

Michelle Lokay
Account Director
Transwestern Commercial Group
713-345-7932


Sara asked me to forward to you the attached status report on her brokerage
agreements.

Kaye


Kim,

Jeff Brown called me today asking for the following:

1.  A contract
2.  Updated pricing for 1 and 2 years out of Jan 1/02 @ PG&E City-gate.

I indicated that you were out until Monday and would get back with him then.

Hope that is okay.

Thanks,

Laird


Ouch.

----- Original Message -----
From: <raymond.paterson@dfait-maeci.gc.ca>
To: <advantage@infovia.com.ar>; <grioja@yahoo.com>; <GregorLC@bp.com>;
<hollyw@email.msn.com>; <blash@home.com>; <nicolg@bp.com>;
<Paul.Steed@glencore-us.com>; <ROBYCOZZITENIS@CIUDAD.COM.AR>;
<TRatchford@webtonetech.com>
Sent: Monday, November 26, 2001 5:34 AM
Subject: FW: Women...

>
>
> -----Original Message-----
> From: Stewart, Derrick -ABDBI -AG
> Sent: Domingo 25 de Noviembre de 2001 08:02
> To: Paterson, Raymond -BAIRS -AG; Barbaglia, Beatriz -BAIRS -CS
> Subject: FW: Women...
>
>
>
>
> -----Original Message-----
> From: Almsaddi, Nesrine -ABDBI -IM
> Sent: November 25, 2001 2:34 PM
> To: Ackad, Dalia -ABDBI -AG; Awad, Dana -ABDBI -IM; Ghanem, Mona -ABDBI
> -AG; Hogan, Margaret -ABDBI -TD; Nimir, Ranya -ABDBI -IM; Sheikha, Sahar
> -ABDBI -IM; Stewart, Derrick -ABDBI -AG; 'Alia'; 'ammar'; 'Eddie';
> 'Fafa'; 'Hosni'; 'Iyad'; 'jina'; 'Marroush'; 'nesreen'; 'Rouba';
> 'rouny'; 'sam'; 'Sana'; 'Souha'
> Subject: Women...
>
>
>
>
>

 - Never_trust_a_woman.mpe


Gerald,
Thanks for your input.  We've added a few additional items (highlighted in blue) in the attached Term Sheet (please review).  The LD language is taken primarily from NNG's published FERC gas tariff.  Is this LD language consisent with ENA's Master Firm Agreement?

Please advise.

Thanks, Lisa Druzbik
3-9620

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Sunday, July 29, 2001 4:33 PM
To:	Druzbik, Lisa
Subject:	RE: Keystone - Latest Term Sheet

See my attached comments.

 << File: NNG Keystone Term Sheet (July 27)1.doc >>

 -----Original Message-----
From: 	Druzbik, Lisa
Sent:	Friday, July 27, 2001 6:16 PM
To:	Higgins, Ned; Kiani-Aslani, John; Hilgert, Chris; Vasquez, Miguel; Gregory, Paul; Dillingham, Laquesha
Cc:	Nemec, Gerald
Subject:	Keystone - Latest Term Sheet

Team,
Attached is the latest term sheet.  I will add a few sentences on the liquidated damages pricing on Monday morning.  The text highlighted in blue are the latest material changes including an Exhibit.  The text in red is to be finalized items.

 << File: NNG Keystone Term Sheet (July 27).doc >>
John Kiani is working on the valuation sensitivities.

Thanks, Lisa


I'm SO Sorry that I forgot about you.


Ken,

Here is a three page summary of Amory Lovins project at the Rocky
Mountain Institute.  You recall you were going to have someone at Enron
look it over to see if you had any interest in supporting it.  Whoever
gets the task is free to talk with Amory, Kathleen Moazed at the Kirsch
Foundation and the Center for Innovative Policies, or me.

Mick
415-561-7732
Gordon and Betty Moore Foundation
-----Original Message-----
From: Kathleen Moazed [mailto:kmoazed@propel.com]
Sent: Wednesday, September 19, 2001 10:42 AM
To: Mick Seidl
Subject: Amory Lovins summary of energy project

Mr. Seidl --

Attached is the 3 page summary written by Amory.  I will send you the
one-pager we are working on for a Capitol Hill audience when we finalize
it, probably by the end of the day.

Steve's numbers are:
cell:       650.279.1008       (best one to use)
work:   408.571.6317
home:  650.941.0248

Thanks,

Kathleen Moazed
Kathleen Bertelsen Moazed
Executive Director
Center for Innovative Policies
536 Irving Street
San Francisco, CA 94122
tel:   415.682-9192   cell:  415.516.7886
fax: 415.682.9193

 - NEPI august 21.doc


---------------------- Forwarded by John Arnold/HOU/ECT on 02/27/2001 06:51
PM ---------------------------

	Enron North America Corp.

	From:  Savita Puthigai @ ENRON                           02/27/2001 04:43 PM

To: John Nowlan@enron.com, Hunter.Shivley@enron.com, phillip.allen@enron.com,
thomas.martin@enron.com, John Arnold/HOU/ECT@ECT, Peter F Keavey/HOU/ECT@ECT,
Scott.Neal@enron.com
cc:
Subject: EnronOnline Spreads Information Session

We have scheduled an information session  regarding the new spreads
functionality .

Date  Time   Location
2/28/01  4.00 - 5.00 p.m.  27C2

I would appreciate it if you could forward this message to all the traders on
your desk.

Thanks

Savita


thanks man.  I will let you know.


G$

Can you please prepare a confidentiality agreement for these folks - I
thought we would want to send our.

Call if you have questions.

Thanks

Stephanie
 -----Original Message-----
From:  Ward, Kim S.
Sent: Tuesday, May 15, 2001 3:24 PM
To: Miller, Stephanie
Subject: FW: Another Step in the Process

 -----Original Message-----
From:  "Greg Lander" <glander@skippingstone.com>@ENRON
[mailto:IMCEANOTES-+22Greg+20Lander+22+20+3Cglander+40skippingstone+2Ecom+3E+4
0ENRON@ENRON.com]
Sent: Tuesday, May 15, 2001 3:10 PM
To: Ward, Kim S.
Subject: Another Step in the Process

Ms. Ward,

With respect to our potential transaction,  we are anticipating sending your
company financials and would typically have a confidentiality agreement with
respect to that disclosure.  I am attaching the Client's standard
Confidentiality Agreement.  It is my experience that suppliers typicall have
ones that they are comfortable with and prefer to sign their own.  If that
is the case, please ignore ours and send us yours.  If that is not the case,
please have ours reviewed and changes suggested so that we may forward to
you the information you will eventually need for credit purposes.  In
addition, if you have standard credit provisions or terms, please forward
those today or tommorrow so that we may prepare what we need to for your
review.

Greg Lander
Skipping Stone

 - Confidentiality Agreement1.doc


Kelly:

Thanks for the quick turn-around.

The positions we have in the Qs and As have been used for 2 years -- in India
by Sanjay, Europe, US, everywhere!!  Many people, including Rob B. have seen
these positions.  Rob's central concern is with respect to the science ( a
position which I do not argue and STRONGLY believe that Enron should not
argue since we are not scientists and have no general interest in getting
involved, as a company, in scientific arguments).

The positions articulated in the Qs and As are good for Enron's commercial
ventures which I am heading and I believe Rob has nothing to say about what
Enron staff are doing to pursue their parochial commercial interests; this is
a pure business decision.  This intrusion to shape positions that benefit the
Sutton-blessed business would be strongly resisted by me.

Please see the attached.  As you know, Ken was in Davos.  Look at this
summary that came directly off of the Davos web site -- climate change was
seen by business leader at Davos as the greatest challenge during the next
century.  Our middle-of-the-road position was the mainstream Davos CEO
position!

Kelly Kimberly
02/14/2000 10:49 AM
To: John Palmisano/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Michael Terraso@ENRON

Subject: Re: See attachment on greenhouse gas issues

Good show!  My initial thought, however is that we need to vet this position
internally, namely with senior management, and get them to agree that this is
our position.  As you will recall, Ken got very different views on the issue
from different people as we prepared for Davos and we need to run it up the
flagpole.  I think it is clearly a time for a more defined position, and it
should help us with the environmental community.

What do you think?  Maybe I am off base and we are all in agreement, but when
I hear from our friend Rob Bradley it does not seem that way!

John Palmisano
02/10/2000 09:29 AM
To: Michael Terraso@ENRON, Kelly Kimberly/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: See attachment on greenhouse gas issues

On Tuesday, I met with Steve Kean to discuss a variety of greenhouse gas
policy issues.
Among these matters was my request to more formally  articulate Enron's
greenhouse gas policies.

I get frequent calls for information on our climate change policy and have
never sent out any paper on our views.

Attached are some questions and answers I have used, and many many other
Enron staff have used to articulate our policies.  They were originally
drafted to support a meeting Ken Lay had with the President 2 years ago and
have been periodically updated.

I want to take these thoughts and simply put them into a brochure format.
Simple, quick, cheap!

Steve Kean said to co-ordinate with the two of you.  That is what I am now
doing.  Any thoughts?  Please get back to me soon.

CHEERS!

John P.


For your information:

Per an IRS stipulation,  the following information must be provided  when
filing a meal expense on expense reports.

 Guest's name
 Guest's title (even if ENRON employee)
 Company name  (if Enron, which entity)
 Business Purpose

Thanks,
Taffy Milligan


Initial meeting to discuss commercial, legal, tax and regulatory
considerations in obtaining CLEC licenses in the states.