The following are?summaries of today's appearance by  Sen. John Burton to the
Sacramento Press Club and of his news conference this  afternoon announcing a
lawsuit against FERC.
?
John Burton held what amounted mostly to a Q&A session at  a?lunch with the
Sacramento Press Club today. He started by talking about  the Edison MOU,
which he said will be assigned to the Senate Utility Committee  for review,
the Judiciary Committee will look at the legal elements, and the  Natural
Resources Committee will look at issues surrounding easements.?  (One
columnist commented that Burton would "love it to death," meaning it would
get so much attention it will be hard for it to advance.)
?
The MOU, he said, includes language that eliminates oversight  by the PUC.?
He said that will not be the case when it leaves the  Senate.
?
Burton is obviously troubled by?the MOU; he said "some  people" say it
doesn't just make Edison creditworthy, it makes them whole.?  He said the
following would have to take place for the MOU to be  acceptable:
?

Back debt must be verified;
All creditors must take a 30% "haircut";
The transmission lines would need to be purchased for an  amount close to
what the governor has mentioned;
$400 million (or more) must come from Edison's parent to pay  back debt.

?
When asked whether $400 million was enough, he said "no" and  that he feels
the parent should pay "a ton."? That led to a discussion of  the dedicated
rate component, which he doesn't like.?He used  the example that if
electricity costs $20 and the dedicated rate component is  $5, if prices drop
to $10 people will unnecessarily pay higher rates.? A  larger infusion of
cash from Edison's parent could eliminate the need for the  dedicated rate
component.
?
Burton called?the dedicated rate component a "big  problem" and said it could
be the strongest argument for use in an initiative  campaign.
?
He said he planned to tell the governor this afternoon that  the state should
set an acceptable purchase price for power and not pay anything  more (note:?
this is a populist approach that is getting a lot of support  from radio talk
shows and other media).? He later threw out the number  $200.? The state is
going to have blackouts whether or not it pays top  dollar, he said, so this
is one way he sees to fight back.? It's tough  medicine, but as he put it,
"You've got to take castor oil and it tastes crappy,  but two days later
you're over it and your stomach's OK."
?
Burton also used a quote from his late brother, Phil, on how  he believe the
situation should be handled:? "The only way to deal with  exploiters is to
terrorize the bastards."
?
Asked how long the committee process would take re: the MOU,  Burton said the
MOU sets August 15 as a deadline but that if there is ongoing  progress there
are allowances that would let the process go as long as into  December.
?
?
LAWSUIT PRESS CONFERENCE
?
Shortly after the lunch, Burton held a press conference to  announce a
lawsuit against FERC was filed today in the U.S. Court of Appeals for  the
Ninth Circuit.? A copy of the brief and press release was faxed earlier  this
afternoon to Jim Steffes and should be available in his office.? If
additional copies are needed, please contact me or Scott Govenar.
?
The plaintiffs are Burton, individually and on behalf of the  Senate; Bob
Hertzberg, individually and on behalf of the Assembly; and the City  of
Oakland.? At the event were Burton, Hertzberg, Oakland Mayor Jerry  Brown,
atty. Joe Cotchett of Cotchett, Pitre & Simon (in Burlingame); atty.  Clark
Kelso, a constitutional scholar from McGeorge School of Law; Sen. Liz
Figueroa; and Joan Breuner, vice mayor of Oakland.?
?
The suit asks for FERC to respond within 7 days and a ruling  within 21 days.
?
Burton opened by explaining that they were suing FERC for not  fulfilling its
statutory authority to maintain fair and justifiable rates.?  Hertzberg added
that FERC had ignored the law and that they  were compelled to file suit for
Californians' relief.
?
Joe Cotchett said the suit is "very basic" and is based on the  Federal Power
Act, which he says limits power costs to "fair and justifiable"  rates.??A
primary?strategy in this suit is to present it as a  "health and welfare" and
public safety suit; he noted that there are 3 million  disabled children and
12,000 convalescent homes in CA who can be adversely  affected by blackouts.?
He said it is "not an economic lawsuit -- it's  about senior citizens,
disabled kids and convalescent facilities."? Today  also happened to be the
legislative day for the California Association of Health  Facilities (the
nursing home trade assn.), and several nursing home workers were  apparently
asked to sit at the back of the room for effect.
?
Cotchett said FERC has been told for 3 years that there were  opportunities
to exert market power.? He also claimed that a Redondo Beach  facility
(obviously AES) was fined $8 million by FERC for taking its plant  off-line
and substituting higher rates.? He said, however, that this order  had been
sealed.
?
He cited an industry report that predicts 260 hours of  blackouts this
summer, which could mean four hours a day.? That could be,  he said,
"potentially the ruination of a lot of medicine in  refrigeration."? Cotchett
noted that only hospitals with more than 100 beds  are exempt from blackouts,
which does not protect surgical centers or many  health facilities.
?
Jerry Brown added that "prices are unjust and people are  suffering."?
Continued high prices could mean "potential civic disruption,"  and that
there will be "more actions to mobilize" Western mayors.
?
Liz Figueroa spoke briefly to reiterate the health aspects of  the lawsuit.
?
Burton had mentioned Clark Kelso, who regularly appears on TV  here as a
legal expert and I believe was a colleague of Justice Anthony Kennedy,  in
his Press Club appearance.? He said Kelso had appeared regularly in the
media early on to say that the state had no standing to file the
suit.?Burton's lawyer's sent him the brief, and Kelso thought enough of it
to?join the legal team.
?
Kelso reiterated that FERC has been aware of potential market  power for
three years, and that the commission has delayed  action?unreasonably.? It
has failed to define "fair and justifiable";  that failure, he said, violates
the Equal Protection and Due Process clauses of  the Constitution.
?
Kelso said this is not a partisan issue, and called upon  "fellow
Republicans" to support the effort.
?
Joan Breuner (sp?), Oakland's vice mayor, said only that she  believed that
if the energy situation were happening in Texas rather than  California, the
president and FERC would have acted long ago.
?
During the Q&A session, Cotchett said the urgency filing  is necessary
because "5 generators supply 90%" of the electricity in CA and all  five have
rate renewals before FERC.? He also said one of the cases that is  relevant
is Bush v. Gore, in which the Supreme Court found that failure to set
standards (regarding elections, obviously, in that case) violates the Equal
Protection clause.? He also said six states have expressed interest in the
case and have requested briefs:? Oregon, Nevada, Arizona, Washington,
Minnesota and one other he didn't name.? None of these states has yet
committed to joining the suit.


Jeff,
My assistant Stella, has told me that
you are going to give up your spot on
the December Navy Fly Away.  You will
be missed!
Please send me confirmation that this
is correct.
Roy Steinhagen


Frank,

Let me know if this looks OK.

The transaction is for delivery into Kern Pipeline, South of the Kern Muddy Creek Compressor station.  The Seller must communicate its election of the metered delivery point to Buyer by 10:30 Central Prevailing Time on the business day prior to the Effective Date (the "Election Deadline").

CW
3-7533

 -----Original Message-----
From: 	Walker, Chris
Sent:	Wednesday, October 17, 2001 1:03 PM
To:	Dickson, Stacy E.
Cc:	Lozano, Melba; Meredith, Kevin
Subject:	New location for Frank Ermis

Stacy,

Here is one more requested by Frank Ermis:

The transaction is for delivery into Kern Pipeline, South of the Kern Muddy Creek Compressor station.  The seller shall determine the delivery point.

 -----Original Message-----
From: 	Lozano, Melba
Sent:	Wednesday, October 17, 2001 12:59 PM
To:	Meredith, Kevin
Cc:	Walker, Chris; Ermis, Frank
Subject:	FW: new eol product

Please see attached  request from Frank.

 -----Original Message-----
From: 	Ermis, Frank
Sent:	Tuesday, October 16, 2001 5:47 PM
To:	Lozano, Melba
Subject:	new eol product

I would like to setup a new EOL product (Kern South of Muddy Creek).  Specific language is as follows:  If you have any questions please call me.  Frank x-3-3002.  thanks


Hi John!

Guess where I am again.  I am going to give you a call shortly about the
attached.  (It's 12:38 a.m. in New York right now and I'm researching on
Lexis.)  It looks like we're trying to sign next week.

If I don't catch you, what's the timing on this?  Can I review it this
weekend?

Best regards,
Susan

From: John Viverito@ENRON on 09/21/2000 07:12 PM
To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan
Aronowitz/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
cc: Darren Delage/AP/Enron@Enron, Jane McBride/AP/Enron@Enron, Susan
Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Trader

Susan/Alan/Sara

As you will note below, Darren, Jane and I met with B&M to discuss the
potential tax issues related to Darren's activities in Japan.

The going forward strategy will be tax driven, therefore we will need to have
Susan's input/suggestions.  If we may be of further assistance, please let us
know.

Cheers,

John
----- Forwarded by John Viverito/Corp/Enron on 09/21/2000 07:02 PM -----

	Paul.TYO.Davis@BakerNet.com
	09/21/2000 04:58 AM

		 To: Susan.Musch@enron.com
		 cc: jane.mcbride@enron.com, john.viverito@enron.com,
Jeremy.Pitts@BAKERNET.com, Edwin.T.Whatley@BAKERNET.com
		 Subject: Trader

Dear Susan

Jane and John asked us to send you the attached notes on a discussion we had
today concerning ENA's financial trader in Tokyo.  You may also wish to refer
to
Ed's original June 23 advice on the subject.

We look forward to assisting with the structuring of the arrangements in due
course.

Regards

Paul Davis
 <<Memo 00.09.21.doc>>
------------------------------------------------------------------------------
--
--------
This is an e-mail from Baker & McKenzie - Tokyo Aoyama Law Office (Qualified
Joint Enterprise Offices). The contents of this e-mail may be privileged and
confidential and are intended only for the use of the addressee. No one else
may
copy, forward, disclose or use all or any of it in any form. If you are not an
intended recipient, please notify us immediately (by reply e-mail) and delete
this e-mail from your system. Thank you

 - Memo 00.09.21.doc


And comments of other participants to the AB 1890 deal would also be very
helpful (like Steve Peace and customer groups).  Ought to show why Glynn's
making comments like "we don't want to overanalyze the old deal."

	Steven J Kean
	Sent by: Steven J Kean
	09/27/2000 11:50 AM

		 To: Elizabeth Linnell/NA/Enron@Enron
		 cc: Jeff Dasovich/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
		 Subject: WSJ: PG&E's Huge losses...

Eliz -- I need your group to put together a search which captures the
comments of PG&E and Edison officials in trade press, anlyst reports, and
speeches which would be inconsistent with the idea that they can now recover
their shortfall.  In other words, when they were trying to get AB 1890
passed, when they were fighting Proposition 9, when they floated their "rate
reduction bonds" and when they talked to analysts and rating agencies I'm
sure they assumed that they would live under the rate freeze and take the
risk of stranded cost recovery whithin the statutory deadline.

----- Forwarded by Steven J Kean/NA/Enron on 09/27/2000 11:45 AM -----

	"Dick S George" <dsgeorge@firstworld.net>
	09/27/2000 08:04 AM

		 To: "Dick George" <dsgeorge@firstworld.net>
		 cc:
		 Subject: WSJ: PG&E's Huge losses...

CC list suppressed...
September 27, 2000
California Utilities' LossesOn Electricity Pose Risk

By REBECCA SMITH

Staff Reporter of THE WALL STREET JOURNAL

California's two biggest utilities are losing so much
money buying electricity in the state's deregulated
market that they have run up deficits equivalent to half
their net worth in just four months.

If the cost of wholesale power continues to exceed the
price these utilities are allowed to bill their
customers, as currently seems likely, they could become
technically insolvent sometime next year. That would put
pressure on regulators to orchestrate a
multibillion-dollar public bailout, similar to the "too
big to fail'' response that in the past pushed
governments to rescue banks.

Such a scenario is quietly being discussed by bond-rating
concerns that recently reduced their credit outlooks for
Pacific Gas & Electric Co., a unit of San Francisco-based
PG&E Corp., and Southern California Edison, a unit of
Edison International of Rosemead, Calif. Bond- rating
concerns say they aren't sure how much additional debt
can be borne by the two affected utilities before they
will have difficulty paying their bills.

Probe of California Power Prices Begins, but New Plants
Aren't Seen as Solution (Sept. 11)

Los Angeles Utility Is Benefitting, Surprisingly, From
Deregulation (Sept. 6)

California Lawmakers Vote to Limit Electricity Costs
(Sept. 1)
"If this is just a seasonal aberration, the utilities can
get through it," says Lori Woodland, analyst for Fitch
IBCA. "If it goes on for six or nine months, it's a very
serious situation." Adds A.J. Sabatelle, senior credit
officer at Moody's Investors Service Inc.: "At some
point, you have a financial crisis."

The utilities say they are having no difficulty meeting
expenses and don't envision problems in servicing their
debts. But they are vigorously lobbying state and federal
regulators to change the rules of the game, hoping
somehow to raise rates to make up for the shortfall. The
California utilities' experience may be a harbinger of
what could happen in other states where wholesale power
prices have surpassed the amount that utilities are
allowed to charge their ratepayers.

For now, utilities are making ends meet by going to the
financial markets to borrow money. PG&E, a giant utility
that serves one out of every 20 Americans, is seeking
approval to increase its debt capacity by $1.4 billion.
It is borrowing $200 million, while Edison is tapping
$250 million from the commercial paper market. "This is
going to be a long, tough road," says Jim Scilacci, chief
financial officer for Southern California Edison.

Today's situation represents a complete turnabout from
what was expected when California deregulated its energy
market on March 31, 1998, which opened electricity
pricing to competition. California tried to give its
utilities a competitive edge nationally by deregulating
faster than other states and by creating a mechanism to
allow investor-owned utilities, such as PG&E and Edison,
to quickly pay down debts incurred to serve customers
under the old regulatory system.

To do this, the state legislature set retail rates at
high levels, which, at first, generated fat surpluses for
the utilities. As the money piled up, utilities used it
to pay down debts for generation facilities that were
otherwise unprofitable in the new deregulated world. By
the end of this June, PG&E and Edison together had
collected more than $12 billion and were on track to
finish paying down debts well ahead of the March 31,
2002, deadline set by the legislature. At that point,
rate freezes were to end and retail prices were to
fluctuate with the market.

But all that went out the window in June, when wholesale
power prices surged, topping the rates the utilities were
allowed to charge retail customers. Average prices at
state-sanctioned energy markets were four to five times
the prices of a year earlier, and three to four times the
level utilities could charge customers.

The accumulated shortfall has been so enormous at PG&E,
that analysts expect its deficit to exceed $3 billion by
Oct. 31, more than half its shareholder equity of $5.7
billion, which is defined as assets minus liabilities.
Southern California Edison finished August with a deficit
of $2 billion, equivalent to almost two-thirds its net
worth of $3.2 billion. The utilities, though they have
been accumulating deficits, aren't required to report
these as losses on their earnings statements.

That leaves utilities in a bind. They want to end the
rate freeze to be able to pass on the real cost of
electricity to consumers. But should the freeze end
before the statutory deadline of 2002, they get
clobbered. That is because they will immediately have to
book a loss on their power-purchase deficits. What's
more, they can't use the proceeds from planned
power-plant sales to cover those losses; instead, should
the freeze end, they will be obliged to refund some of
the proceeds to ratepayers. In PG&E's case, the refunds
could total $500 million, while in Edison's case, the
amount is $254 million.

Publicly at least, utility executives insist a mechanism
will be found to let them recoup the money spent on
electricity.

Consumer advocates are gearing up for the fight. Nettie
Hoge, executive director for San Francisco consumer group
Utility Reform Network, says ratepayers shouldn't end up
footing the bill for a deal cut by utilities that
benefited them before prices shot up.

Utility executives are now distancing themselves from the
legislation that got them into such a mess, which was
drafted with their assistance. PG&E Chairman Robert Glynn
says it is best not to "overanalyze" the "old deal."
Instead, he says, regulators and legislators should sit
down with utilities and construct a new agreement, since
"it's in the broad interests of the state not to have
critical energy infrastructure look like a leper."

Mr. Glynn says the current deal offers "mutually assured
destruction" to both utilities and ratepayers. Something
must be done, he says, or consumers throughout most of
the state will experience "a San Diego-style rate shock."
The utility serving that city, San Diego Gas & Electric
Co., ended its freeze a year ago and began passing
wholesale power costs directly through to ratepayers.
Legislators intervened this summer, however, and
temporarily capped retail rates when monthly power bills
nearly tripled. The utility, a unit of Sempra Energy, is
also accumulating a deficit as a result.

So long as banks and bond markets believe the utilities
will be repaid, they will be able to borrow, analysts
say. "Until we hear politicians of consequence state
otherwise, our position is that we believe the utilities
will be made whole," says Richard Cortright, a director
at Standard & Poor's corporate ratings group.

But that opinion could change if it looks like the
utilities will have to swallow a big loss. The result:
lower credit ratings that would raise borrowing costs and
could trigger a downward spiral. "You're talking about
top-rated companies, though," said Ms. Woodland of Fitch
IBCA. "To get to insolvency, a lot would have to happen."

In the meantime, utilities are doing all they can to
control the hemorrhaging. They have gotten authority from
regulators to buy more power under long-term contracts at
fixed prices, reducing their vulnerability to spot-market
volatility. And they have petitioned federal regulators
to declare California's market so badly flawed that
generators should be denied market pricing and, even,
ordered to pay refunds.

Nevertheless, several forces are working against them.
Although they can sign bilateral contracts, prices remain
high for those as well. What's more, they can't buy less
power than their customers need. If they don't buy
enough, the California Independent System Operator, the
organization responsible for reliability, will step in
and make purchases for them and send them the bill.

Perhaps the biggest problem facing PG&E and Edison,
though, is one of timing. The California legislature is
out of session until December, and regulators haven't
even really started to address the issue formally. In the
meantime, the utilities' deficit is growing by tens of
millions of dollars daily.

Write to Rebecca Smith at rebecca.smith@wsj.com


Political  Philosophies: Explained in Simple "Two-Cow" Terms
with an Update for the  state of California

Socialism: You have two cows. You keep one, but  must
give the other to your neighbor.

Communism: You have two cows.  The government takes
both and provides you with milk.

Fascism: You  have two cows. The government takes
both and sells you the  milk.

Bureaucracy: You have two cows. The government
takes them,  shoots one, milks the other, pays you
for the milk, and then pours it down  the drain.

Dictatorship: You have two cows. The government
takes both,  then shoots you.

Capitalism: You have two cows. You sell one and buy
a  bull.

Democracy: You have two cows. The government taxes
you to the  point that you must sell them both to
support a man in a foreign country who  has only one
cow, which was a gift from your own  government.

Corporation: You have two cows. You lay one off,
force the  other to produce the milk of four cows, then
act surprised when it drops  dead.

California: You have two cows. The state tells you how
to milk  your cows, when to milk your cows, how much to
milk your cows and the most  that you can charge for the
milk. You go broke and sell the cows. The state  calls you
greedy and blames you for the current milk shortage.


We have received the executed Second Amendment to Guaranty Agreement dated as
of June 9, 2000.  This amendment changed the guaranty of Formosa Plastics
Corporation, USA ("Guarantor") with respect to the physical transactions with
Formosa Hydrocarbons Company, Inc. and financial transactions with Neumin
Production Co. to an unlimited guaranty.  The original guaranty amendment
will be sent to Credit.


Is Dayton showing the price to be
 1.  $2.47 and $2.455

 2.  $2.47 +.17 and $2.455 + .17?

To me it looks like options 2.

	Enron North America Corp.

	From:  Steve Gillespie @ ENRON                           03/22/2000 03:46 PM

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Dayton P&L - 0002 Production - Sales

Chris,

I have this information for you.  It will be on your desk as you read this
message.

sg
---------------------- Forwarded by Steve Gillespie/Corp/Enron on 03/22/2000
03:45 PM ---------------------------

Chris Germany@ECT
03/21/2000 04:54 PM
To: Dana Daigle/Corp/Enron@ENRON, Jeff A Crook/HOU/ECT@ECT
cc: Steve Gillespie/Corp/Enron@ENRON

Subject: Re: Dayton P&L - 0002 Production - Sales

Steve will find out what the pricing is and will let me know.

	From:  Dana Daigle @ ENRON                           03/21/2000 11:58 AM

To: Chris Germany/HOU/ECT@ECT
cc: Jeff A Crook/HOU/ECT@ECT
Subject: Dayton P&L - 0002 Production - Sales

---------------------- Forwarded by Dana Daigle/Corp/Enron on 03/21/2000
11:58 AM ---------------------------

Jeff A Crook@ECT
03/21/2000 10:17 AM
To: Dana Daigle/Corp/Enron@ENRON
cc: Mechelle Stevens/HOU/ECT@ECT

Subject: Dayton P&L - 0002 Production - Sales

Any updates?

Thanks,
Jeff
---------------------- Forwarded by Jeff A Crook/HOU/ECT on 03/21/2000 10:16
AM ---------------------------

	From:  Dana Daigle @ ENRON                           03/20/2000 07:26 AM

To: Robert Allwein/HOU/ECT@ECT
cc: Jeff A Crook/HOU/ECT@ECT
Subject: Dayton P&L - 0002 Production - Sales

---------------------- Forwarded by Dana Daigle/Corp/Enron on 03/20/2000
07:26 AM ---------------------------

Jeff A Crook@ECT
03/17/2000 06:34 AM
To: Stephanie Sever/HOU/ECT@ECT, Dana Daigle/Corp/Enron@ENRON
cc: Mechelle Stevens/HOU/ECT@ECT

Subject: Dayton P&L - 0002 Production - Sales

Under contract 96029523, deal 145321, ENA billed at rate of IF.CGAS.APPAL-MI
= $2.76.  The rate customer is showing is tiered as follows: 145,000 mmbtu @
$2.47 and 145,000 mmbtu @ $2.455.  Please verify if volumes should be at
tiered pricing.

Thank you,
Jeff


MMT Group a Managed Futures firm would like to offer you a free trial
subscription to their real time market trading. ($145.00 value)

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Rick,

I asked Greg Whalley and he declined (he has a speaking
engagement in London  a day before).

I have sent an invitation to Louise Kitchen and she has not
replied yet. I  shall catch her at the management conference in San Antonio
and
ask for a commitment. It would help if you could mention this to her as well.

Vince

Richard Causey@ENRON
11/14/2000 09:30 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Spring 2001 Conference Participation by Jeffrey K. Skilling

Where do we stand on this?  Is someone else going to do it?
---------------------- Forwarded by Richard Causey/Corp/Enron on 11/14/2000
09:24 AM ---------------------------

"Ehud I. Ronn" <eronn@mail.utexas.edu> on 10/24/2000 04:29:05 PM
To: Richard.Causey@enron.com
cc:

Subject: Re: Spring 2001 Conference Participation by Jeffrey K. Skilling

At 12:10 PM 10/13/00 -0500, you wrote:
>In checking with Jeff's Assistant this morning, we hope to get clarity on
>the schedule later today or Monday (at the latest, hopefully!).
To paraphrase Daneil Webster's famous quote, "How stands our Conference?"

Best,
Ehud

==============================================
     Ehud I. Ronn
     Professor of Finance and Jack S. Josey Professor in Energy Studies
     Director, Center for Energy Finance Education and Research
     McCombs School of Business
     University of Texas at Austin
     Austin, TX. 78712-1179
     Voice:  (512) 471-5853
      FAX:   (512) 471-5073
      Internet:  eronn@mail.utexas.edu
=================================================


I got several responses last night and this morning by email, so I am
attaching a revised list.


Thank you for your prompt response!


Fletch:

I will pass Tomcat's resume on to other managers here at WIlliams. Everyone a little bit on eggshells here. I'm sure I'll be back in Houston soon. Would like to get together.

Dan O'Grady


Jason:  Please review (I have others for you to see).  Also, Paul and I spoke
with Cadwalader this morning.  Please continue to check the international
exchanges online to see if you can locate clearinhouse rules for each
exchange.  Perhaps you can also find information on the regulatory scheme for
the jurisdictions.  I suspect we will have to hire outside counsel in each
country to answer our concerns.  Let's talk.  SS
----- Forwarded by Sara Shackleton/HOU/ECT on 05/22/2000 10:27 AM -----

	James_Naughton@em.fcnbd.com
	05/22/2000 10:23 AM

		 To: sara.shackleton@enron.com
		 cc:
		 Subject: Give Up Agreement

Sara,
Thanks again for your time Thursday.
Attached is the standard give-up agreement we discussed, with the
governing law changed to New York.
Please let me know when you have finished looking it over.  If you wish,
I'd be happy to prepare them and send to you.
Regards,
Jim Naughton

(See attached file: GIVEUP.doc)

 - GIVEUP.doc


Attached for are the confirms to be added to the Gallup Enfolio Agreement for
the incremental volumes to be delivered by TW to the LLC.  Please let me know
if you have any questions.


I don't know if you gain anything - the land can be on b/s without putting
the entire project on b/s, per Herman and Mary Cilia.  My guess is that we'd
consolidate the other LLC anyway - so the accounting treatment of the land
would not change by changing the owner of the land, I don't think.

Rose
 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, May 23, 2001 1:53 PM
To: Bills, Lisa; Engeldorf, Roseann; Manis, Herman
Cc: Jacoby, Ben
Subject: LLC structure for power development

Question for the team:

If it appears that we may have land which may not be able to stay off balance
sheet, is it preferable to have the land held by a different LLC than the
project LLC, with a lease to the E-Next/OBS compliant project co?

If that is the case, what about the possibility of burdening the land with
some low dollar hard costs?  I don't have anything in particular in mind, it
is more of a theoretical question.

Thanks,

Kay


Okay I think we are good, tried calling you, although I spoke to Sean, he ch
price for deal 568843.01 to 299.98
thanks

   Kate Symes                04/03/2001 04:33 PM

To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject: Re: Checkout 4/3/01

568843 - added fee of .0275, but Sean Crandall believes price should stay at
300.00

569178 - changed broker from APB to Prebon

569021 - changed broker from APB to Bloomberg

569270 - changed broker from APB to Amerex

Stephanie Piwetz   04/03/2001 02:05 PM

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

Subject: Checkout 4/3/01

Kate, please check
APB showed
Diana Scholtes
568843.01   price 302.00  (and doesn't fee have .0275)

Apb did not show  Richter deal 569178.01

and Tom Alonso deal 569021.01 (apb only shows one trade 568998.01)
569021.01 >bloomberg, we received a broker confirm.

Sean Crandall 569270.01  apb no show

Thanks


Jay,

I think that should be looked at and re-evaluated. The way I had it, AS, PB,
DB and I (we had commercial and IT infrastructure covered in  1 call) all
attended the video calls but I primarily drove the business activities and
co-ordination.  I had envisioned Allan and your group taking over directly
pre my change and pre other international ongoing activities.  I suggest that
all of you re-look at it and do what you want but there are obvious big
changes coming that will affect your decision and how we will approach the
business opportunities.  I believe they are a great resource for future
development and they really appreciated the communication effort and we
really helped them.

Good luck,
Mike

Jay Fitzgerald@ECT
08/03/2000 01:50 PM
To: Mike.McConnell@enron.com @ ENRON
cc: Jay.Fitzgerald@enron.com@ENRON, Jeffrey.McMahon@enron.com@ENRON,
Allan.Sommer@enron.com@ENRON, Louise.Kitchen@enron.com@ENRON,
Philippe.A.Bibi@enron.com@ENRON
Subject: Re: Draft Business Plan Enron Net Works South America

Who is to be responsible for these guys and their involvement with NetWorks
going forward?

Mike.McConnell@enron.com on 08/02/2000 08:31:47 AM
To: Jay.Fitzgerald@enron.com, Jeffrey.McMahon@enron.com,
Allan.Sommer@enron.com, Louise.Kitchen@enron.com
cc: Philippe.A.Bibi@enron.com

Subject: Re: Draft Business Plan Enron Net Works South America

All,

FYI, here is the latest draft of their business plan for your review and
commentary.  I had the video call yesterday and went through all the org
changes.  I did not provide any commentary on the specifics for obvious
reasons.

Mike
---------------------- Forwarded by Mike McConnell/HOU/ECT on 08/02/2000
08:23 AM ---------------------------

D'Arcy Carroll@ENRON
07/24/2000 07:24 AM

To:   Steve Nagy/SA/Enron@Enron
cc:   Mike McConnell/HOU/ECT@ECT, Joe Kishkill/SA/Enron@Enron
Subject:  Re: Draft Business Plan Enron Net Works South America  (Document
      link: Mike McConnell)

I think there are 2 principal drivers:

(1)  the respective Business Unit heads inside of Networks (Houston or
elsewhere ) need to know who Steve and I are, that we're involved and that
we have a      mandate ( actually this probably warrants some clarification
vis-a-vis the Argentine office, as well; especially given the hiring of
Bastos - I for one would like      to get a clear and substantive
understanding in regard to his trading background, priority for physical
vs. financial products, and expectations ) and
(2)  we (Enron SA) need an invitation, but also need to probably be more
aggressive about participating in meetings, discussions - both strategic
and       functional for each of  the Business Units

Once we reach a consensus on an Enron SA Bus Plan with focus, targets will
establish some parameters to participate inside the group going forward.

Mike, your efforts to communicate both updating events vis-a-vis the weekly
call and overtures outside the group have been a great initiative and much
appreciated.  It's made an important, productive impression on Enron
employees "outside"of Networks.  Look forward to further discussions all
around.

Steve Nagy
07/21/2000 02:19 PM

To:   Mike McConnell/HOU/ECT@ECT
cc:   Joe Kishkill/SA/Enron@Enron, D'Arcy Carroll/SA/Enron@Enron

Subject:  Draft Business Plan Enron Net Works South America

Mike,

Per your request, attached is the draft Business Plan for South America.
Due to agenda constraints, Joe Kishkill has not yet had the opportunity to
review.

As part of structuring the regional effort, it would be important to
streamline and coordinate the due diligence and market study efforts. There
appears to be some confusion between Houston and S?o Paulo over who is
responsible for what. We may need to formally announce D'Arcy's and my
roles, including the need to channel information through us into and out of
the region.

Please let us know your thoughts.

Thanks, Steve

(See attached file: Business Plan Enron Net Works South America.ppt)

 - Business Plan Enron Net Works South America.ppt


pls print for me.  thanks. df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 02/06/2001
05:42 PM ---------------------------
From: Julie McCoy/ENRON@enronXgate on 02/05/2001 04:50 PM
To: Mike W McGowan/ENRON@enronXgate, Dave Neubauer/ET&S/Enron@ENRON, Michel
Nelson/ET&S/Enron@ENRON, Bill Cordes/NPNG/Enron@ENRON, Maria
Pavlou/ENRON@enronXgate, Drew Fossum/ET&S/Enron@ENRON, Barbara
Bischoff/ET&S/Enron@ENRON
cc: Virginia O'Neill/NPNG/Enron@Enron, Deb Cappiello/ET&S/Enron@ENRON, Martha
Benner/ENRON@enronXgate

Subject: Invitation to Mount Michael Night of Knights - April 7, 2001

Enron Transportation Services and Mary Kay Miller cordially invite you and a
guest to attend the 12th Annual Mount Michael Night of Knights on April 7,
2001.

2001 Mount Michael Night of Knights - "Twelfth Knight"
Saturday, April 7, 2001
Armory Reception, Social Hour and Silent Auction  5:30 PM-7:30 PM
Dinner and Live Auction  7:30 PM
Mount Michael Benedictine School
22520 Mount Michael Road
Elkhorn, NE  68022

Please RSVP to Julie McCoy by Monday, February 26.


Hi.  Nice to see you in Houston.  I'm giving a presentation on gas issues on
Tuesday.  I've got a draft of the message points you circulated on 9.28
regarding "why gas prices have increased" (have those changed?); I've got Ken
Lay's gas presentation before the National Governor's Conference (9.20.00);
and Gil Muhl's presentation to the AGA  in Washington D.C. on 9.19.00.  Are
there other presentations that would useful to look at in preparation for the
talk?

Finally, rest assured, you're the best resource anyone could hope for on gas
issues anywhere in Enron.  If it seems like I've bugged you less recently
it's because 1) I feel like I've bugged you a lot--too much--over the past
couple of years and don't want to wear out my welcome and 2) with the
electricity crisis in California and the start-up of Broadband, my attention
has been less focused on gas.  Though that will change soon, since as you may
have heard, PG&E's "Gas Accord" is coming to an end and we've got to figure
out where to go from here.  (You'll be hearing from me in the near future on
that issue, since I'll need to get a company-wide view of what we want to
happen out here in the West.)

Look forward to seeing you again real soon.

Best,
Jeff


Please find below the GTV weekly project status update and the attached file for the updated project time lines.

GTV status meeting attendees:  Zhiyong Wei, Russ Severson, Jeremy Wong, Francis Lim, Chuck Ames, Geoff Storey, Karima Husain, Jay Krish, Mike Swaim, Nayan Dattani, George Grant, Dave Nommensen, Narasim Kasaru, Dat Truong.

Accomplishments:
?	Incorporating physical deal positions in TDS:
o	Changes for the view aggregation have been completed.
o	Expandable Total in Cash Position has been completed.
?	Single point of deal entry for term deals:
o	Phase 1 of single point of deal entry for term deals is in user test.
?	Gas Daily deals:
o	Revisions for changes to PortCalc application to create GDI calc in ERMS have been worked on, and are in user test.
o	Curve shift reports are under development and will be completed this week.
?	Live feeds for Gas Daily/intra-month curves:
o	Released to production.
?	Option Grid (phase 2):
o	Released to production.
?	Gas Daily options (phase 2):
o	Changes to PortCalc application have been completed and in user test.
o	The Option Delta Change Forward Month report has been completed and in user test.
?	Basis Options (phase 2):
o	Development of deal entry type for Basis Options has been completed in TAGG.
o	Development of loading correlation curves has been completed.

Plans for the week ending 6/8/01:
?	Continue IT development of Phase I items.
o	Changes to curve shift report for GDI Calc.
o	Change CPR PortCalc to value outer month positions.
?	Continue IT development of Phase II issues.

Issues / Open Items:
None

Notes
?	PortCalc changes for Gas Daily and CPR deals have been taking longer than originally estimated due to new items and complexities uncovered during development.
?	The user acceptance test for Cash Position in TDS has been held up by the PortCalc changes.
?	For phase 1 Single Point of Deal Entry for Term Deals, the user acceptance test uncovered some additional work needed. The team has been working closely with Geof, Chuck, Russ and George to provide the needed functionalities.
?	The user has been testing the changes for Gas Daily Options (Phase 2) for the last few weeks. IT development was completed a few weeks ago. No new changes have been requested.

Thanks

Zhiyong


Kevin,

Please let me know when your move date has been "firmed up".  Can you let me
know the location that you want to install the new copier at {I will need to
check for the necessary power outlet}? Listed below are some of the latest
generation "Heavy Duty" copiers that Enron has been installing as replacement
for older equipment such as the Xerox 5388 etc. Feel free to try them out for
the specific task that you have on a daily basis and let me know what you
think {We can discuss relevant speeds & associated $ costs after you have
tested these copiers}:

FYI: There are 2 other models from Lanier: The 5355 and the 5365. Both of
these are the "Toshiba 70 series" digital copier rebranded as "Lanier". If
the one of the Toshiba 70 series listed above meets your criteria, the 5300
series from Lanier is a better cost option between the two different brands.

If possible, would you be available to meet next week to discuss further? I
would like to invite a member of the ENA Finance group to go over cost
allocations for the new copier, regardless of which copier selected.

Thanks,                Iain....................

Kevin G Moore
03/08/2000 11:22 AM
To: Iain Russell/EPSC/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Mike A
Roberts/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Liz M Taylor/HOU/ECT@ECT
cc:
Subject: Copier on 32nd floor

Hello Iain ,
Well time is drawing near for another move
for us.
The problem is we do not have a heavy duty
copier for the floor.
We do need a copier.

Please inform me as how we can work through
this , maybe we can split the cost with others on the floor.

The move is schedule sometime at the end of the month.

I will keep you informed........

                                                           Thanks
                                                        Kevin Moore


Enron Compression Services would like to invite you to a Project Gallup
Appreciation Dinner on June 15 at 6:30 PM at Ruggles Bistro Latino (711 Main
Street).

Please RSVP to myself no later than Monday, June 12.  If you have any
questions, please call me at 3-4529.

Thank you
Xochitl Velasco


fyi
----- Forwarded by Mark E Haedicke/HOU/ECT on 12/20/2000 03:48 PM -----

	Sheila Walton
	12/20/2000 02:35 PM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc:
		 Subject: Part Time Benefits

Here is the sheet for reduced hours employees.


---------------------- Forwarded by Darron C Giron/HOU/ECT on 06/12/2000
01:09 PM ---------------------------

Dawn C Kenne
06/12/2000 09:37 AM
To: Jennifer Baer <jbaer1@maine.rr.com>, "Amanda Barnard"
<ajbarnard@houston.rr.com>, Pam B Boxx/HOU/ECT@ECT, Michelle Bythewood
<rbwood@ix.netcom.com>, "Bythewood, Richard" <rbythewood@txi.com>, "derek
campbell" <derek.campbell@paslode.com>, dekenne@west.raytheon.com,
PMDESMAR@earthlink.net, Linda J Ewing/HOU/ECT@ECT, ExeterWest@aol.com,
mafrit@cvtv.net (Marie Fritsche), "garynkay" <GARYWGARRETT@email.msn.com>,
Darron C Giron/HOU/ECT@ECT, "Jinnette, Reed" <Reed.Jinnette@compaq.com>,
"Keeling, Ingelisa" <ikeeling@velaw.com>, "Kenne, CPT. R. Keith"
<Kenne@eglin.af.mil>, Jennifer Kern <Jennifer.Kern@aocnet.com> @ ENRON,
"Kistler, Kerry L" <KistlerKL@aetna.com> @ ENRON, "Dennis Mensinger"
<Dennis.Mensinger@globalone.net>, plmichaud <plmichaud@pdq.net>, "Rivera,
Susan J" <RiveraSJ@aetna.com> @ ENRON, "Mark Troyer" <mtroyer@computron.net>,
Eric Wardle/HOU/ECT@ECT, Gary Wilson <gxwilson@us.oracle.com>, "Tracey
Wilson" <twilson@officefurnishings.com> @ ENRON, Ed Zajicek
<e.zajicek@pentasafe.com>
cc:
Subject: Fw: Fw: direct line to Heaven

---------------------- Forwarded by Dawn C Kenne/HOU/ECT on 06/12/2000 09:35
AM ---------------------------

maxnbev@wesnet.com (Max Fledderjohann) on 06/07/2000 07:25:20 PM
To: <DAWN.C.Kenne@enron.com>, "GARY" <GARYWGARRETT@EMAIL.MSN.COM>
cc:

Subject: Fw: Fw: direct line to Heaven

-----Original Message-----
From: Sandra Thieman <tthieman@bright.net>
To: michelle thieman <thieman@bright.net>; Nancy & Larry Roettger
<lnretger@bright.net>; maria <mrf@dialdata.com.br>; Judy & Larry Looker
<llooker@infinet.com>; Pat Katterhenry <pat613@webtv.net>; Hi Guys
<crsiscen@bright.net>; bev fledderjohnn <maxnbev@wesnet.com>; Bev Dicke
<3dickes@bright.net>; GEN CONRADI <gen1@bright.net>; jenny & doug combs
<ccombs@voyager.net>; Marcia Beneda <Marshy54@aol.com>
Date: Wednesday, June 07, 2000 9:26 AM
Subject: Fw: Fw: direct line to Heaven

>
>
>----------
>> From: Becky <bjohnson1@accesstoledo.com>
>> To: Judy <jtb@defnet.com>; Paul E. Brose, M.D. <pbrose@bright.net>; Pam
>Hudak <nanahudie@cros.net>; Gaylon and Elaine Davis <gedavis@defnet.com>;
>Sandy Thieman <tthieman@bright.net>
>> Subject: Fwd: Fw: direct line to Heaven
>> Date: Monday, June 05, 2000 11:34 AM
>>
>>
>> ---------------- Begin Forwarded Message ----------------
>> Date:        6/5/00 11:29 AM
>> Received:    6/5/00 11:30 AM
>> From:        Bill Sterling, bsterling@cconnect.net
>> To:          Becky, bjohnson1@accesstoledo.com
>> CC:          Joe/Karen DaFonseca, dafons@coastalnet.com
>>              Dave/Patty Yaeck, DPyaeck@always-online.com
>>              Ethel, queque36@coastalnet.com
>>              Jane Manchester, THSMJM01@westottawa.K12.MI.US
>>              Kit Johnson, den-leo@defnet.com
>>
>>
>> ----- Original Message -----
>> From: "michelle sterling" <sterlingmichelle@hotmail.com>
>> To: <kadlac@earthlink.net>; <brenda_mcclain@hotmail.com>;
>> <sandrager@email.msn.com>; <bsterling@cconnect.net>;
>> <ewingb@pilot.infi.net>; <HerrHund@aol.com>; <lynnkloss@hotmail.com>;
>> <marytrom@yahoo.com>; <martian1@aol.com>; <laffoons@hotmail.com>
>> Sent: Monday, June 05, 2000 8:21 AM
>> Subject: direct line to Heaven
>>
>>
>> >
>> > It seems a man in Topeka, Kansas, decided to write a book about
>churches
>> > around the country. He started by flying to San Francisco, and started
>> > working east from there. He went to a very large church and began
>taking
>> > photographs, etc. He spots a golden telephone on a wall and is
>intrigued
>> > with a sign which reads "$10,000 a minute."
>> >
>> > Seeking out the pastor he asks about the phone and the sign. The pastor
>> > answers that this golden phone is, in fact, a direct line to Heaven and
>if
>> > he pays the price he can talk directly to God. He thanks the pastor and
>> > continues on his way. As he continues to visit churches in Seattle,
>Boise,
>> > Minneapolis, Chicago, Milwaukee, New York, Atlanta, and on around the
>> United
>> > States, he finds more phones, with the same sign, and the same answer
>from
>> > each pastor.
>> >
>> > Finally, he arrives in Texas. Upon entering a church in Dallas, lo and
>> > behold, he sees the usual golden telephone. But THIS time, the sign
>reads
>> > "Calls 25 cents."
>> >
>> > Fascinated, he requests to talk to the pastor. "Reverend, I have been
>in
>> > cities all across the country and in each church I found this golden
>> > telephone, and have been told it is a direct line to Heaven and that I
>> > could talk to God, but, in the other churches the cost was $10,000 a
>> > minute. Your sign reads 25 cents a call. Why?"
>> >
>> > The pastor, smiling benignly, replies, "Oh, my son, that's very easy to
>> > explain. You see, you're now in Texas now and, of course, it's a local
>> call
>> > from here."
>> >
>> >
>________________________________________________________________________
>> > Get Your Private, Free E-mail from MSN Hotmail at
>http://www.hotmail.com
>> >
>> >
>>
>>
>>
>> ----------------- End Forwarded Message -----------------
>


Platts Energy Bulletin

The daily Energy Bulletin is a showcase of the top headlines posted on
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March 6, 2002

What's New on platts.com?
Platts Enron Report: Read about the implications of Enron's bankruptcy on the
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S&P: Examining the Cost of Merchant Generating Plants - Property Taxes: This
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(http://www.platts.com/quote.shtml)

ENERGY INSIGHT:
(for Platts Premium Customers)

Mark-to-market coming under scrutiny
Enron Corp's supernova-like flameout has drawn attention to the inherent quirks
of mark-to-market accounting. While Enron certainly was a mark-to-market abuser,
the question now is how to prevent other companies from abusing hypothetical
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Futures Round-up

NYMEX: Crude to open lower on bearish DOE stock build
April crude oil on NYMEX is called to open 55 cts lower at $22.62/bbl. April
unleaded gasoline is called to open 19 pts lower at 72.91 cts/gal and April
heating oil is called to open 54 pts lower at 59.60 cts/gal.

IPE Brent Focus: IPE Brent crude trades lower, correcting initial gains
Front-month April Brent stood at $22.70/bbl at 1117 GMT, 9 cts off from
Tuesday's close, having peaked at $23/bbl earlier.

News Round-up
Click on the headlines below or paste the URLs provided in your internet browser
to see the full story.

OIL:
Oman says ready to extend oil output cuts to year-end
Gulf oil producer Oman is ready to extend its 40,000 b/d crude output cut to the
end of the year if necessary as part of continued cooperation with OPEC and
other independent producers, oil minister Mohammed al-Rumhy said Wednesday.
(http://www.platts.com/archives.shtml#59764)

NATURAL GAS:
BHP Billiton to develop Pakistan's Zamzama gas field
Australian resources giant BHP Billiton Wednesday said it would proceed with the
phase one development of the Zamzama gas field in southern Pakistan, which has
been producing under an extended well test since March 2001.
(http://www.platts.com/archives.shtml#59746)

PETROCHEMICALS:
ExxonMobil eyes ethylene elastomers for future growth
ExxonMobil sees new developments in ethylene elastomers as the next avenue for
pursuing its strategic growth through the commercialization of product lines.
(http://www.platts.com/archives.shtml#59743)

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(http://216.92.125.24/pri2.htm).

ELECTRIC POWER:
US FTC gets sole antitrust review authority over mergers
The US Federal Trade Commission would have sole responsibility for reviewing all
energy industry mergers, under an agreement announced Tuesday with the
Department of Justice dividing merger review and antitrust investigations
according to industry sector. (http://www.platts.com/archives.shtml#59729)

NUCLEAR:
Belgium takes step toward killing nuclear power
Belgium has taken a decisive step toward ending nuclear power generation in that
country.The executive adopted a draft law Mar 1 aimed at shutting the country's
seven reactors after 40 years of operations and at barring the construction of
new nuclear generating capacity. (http://www.platts.com/archives.shtml#59728)

COAL:
Department of Energy offers $330-mil in coal funding
With an initial offer of $330-mil in federal matching funds, "the initial
competitive stage of President Bush?s $2-bil, 10-year clean coal technology
initiative officially begins," according to the Department of Energy.
(http://www.platts.com/archives.shtml#57286)

BANDWIDTH:
FCC chairman defends competitive landscape; says content is not compelling
Although he acknowledged a "severe depression" in the telecommunications
industry, Michael Powell, chairman of the Federal Communications Commission,
refused Monday to subscribe to the notion that there is no competition among
broadband providers. (http://www.platts.com/bandwidth/index.shtml)

To see the past five day's headlines posted on platts.com
go to Platts archives (http://www.platts.com/archives.shtml).

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Mr. Monroy entered deal 218918 in Sitara on 3/15/2000 with a Tagg # NC3056.
I don't know who this is.  Could you let me know which trader did this deal
please.


This message is intended for all U.S. employees eligible for Enron's domestic
medical plans.  If you receive this notification in error, please disregard.


John, can I get your help on this.  I am in meetings all morning tomorrow.
Can you talk to Harry Kingerski,and /or Mike Day, etc. to get your comments
to the right folks.
Mike and JIm, please figure out a  way to provide  comments as well
---------------------- Forwarded by Vicki Sharp/HOU/EES on 02/01/2001 06:44
PM ---------------------------
From: Jeff Dasovich@ENRON on 02/01/2001 06:39 PM
Sent by: Jeff Dasovich@ENRON
To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy
Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward
Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES,
Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Frank W
Vickers/HOU/ECT@ECT, Gayle W Muench/HOU/EES@EES, Ginger
Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES,
James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES,
Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy
Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin
Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES,
Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, Mike M Smith/HOU/EES@EES,
mpalmer@enron.com, Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul
Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard L
Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard
Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert
Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES,
Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES,
skean@enron.com, Susan J Mara/NA/Enron@ENRON, Tanya Leslie/HOU/EES@EES, Tasha
Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim
Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S
Bradford/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON, Jubran
Whalan/HOU/EES@EES, triley@enron.com, Richard B Sanders/HOU/ECT@ECT, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Greg Wolfe/HOU/ECT@ECT, James
Wright/Western Region/The Bentley Company@Exchange, Dirk vanUlden/Western
Region/The Bentley Company@Exchange, Steve Walker/SFO/EES@EES
cc:
Subject: Status of efforts to fix Direct Access ban in ABX -1

----- Forwarded by Jeff Dasovich/NA/Enron on 02/01/2001 06:38 PM -----

	Scott Govenar <sgovenar@govadv.com>
	02/01/2001 02:40 PM

		 To: Jim Steffes <james.d.steffes@enron.com>, Rick Shapiro
<rshapiro@enron.com>, Jeff Dasovich <jdasovic@enron.com>, Mike Day
<MDay@GMSSR.com>, Paul Kaufman <paul.kaufman@enron.com>, Sandra McCubbin
<Sandra.McCubbin@enron.com>, Susan J Mara <smara@enron.com>,
"Harry.Kingerski@enron.com" <Harry.Kingerski@enron.com>
		 cc:
		 Subject: Status of efforts to fix Direct Access ban in ABX -1

    We are now engaged with a large coalition of customer groups
committed to passing language in a Bowen bill (a spot bill SBX - 27 has
been introduced for this purpose by Bowen) to fix the language in ABX -1
which permits a ban on new direct access agreements.  We have committed
to Bowen to get her staff a first attempt at draft language by close of
business tomorrow.  The attachment to this email is a draft which has
been discussed by the customers group coalition.  We would like to have
input on this language by 11 am PST tomorrow if at all possible.  Please
email responses to Mike Day at mday@gmssr.com or calling 415-279-0702.

The aim of the bill is to provide specific direction to the DWR and CPUC
so that they cannot use their discretion to make customer choice more
difficult.  In addition to the language in the draft attachment, several
other issues were discussed on the call.  Please comment on these as
well if you can.

1. In sub para. (c) it was felt we should carefully define the stranded
costs DWR might face so they have to show actual damage from a customer
leaving.  CMA proposed defining these "actual costs" as "the costs that
DWR cannot reasonably avoid until one or more of its long term power
contracts expire."   Thus, if the load electing direct access fits
within the DWR short term purchases, there are no stranded costs and no
exit fee.

2. Should there a limitation on the number of times a customer can
switch into and out of the bundled service portfolio?  CMA and other
customers were willing to live with a limit of one switch a year.

3.  Should customers be required to give DWR notice of their desire to
return or the expiration of their direct access deal?  There was some
willingness to do this, balanced against a desire to not be too specific
or to do DWR's work for them.

4.  The large customers were very uncomfortable with having the
definition between small customers who could switch without restriction
and large customers who could not be 500 Kw.  That is the number the
core/noncore advocates are pushing as a dividing line.  The group would
prefer that the limit be 100 Kw, which is the limitation adopted in AB
265, the  SDG&E rate cap bill from the end of last session.  Thus the
100 kW figure has a legislative connection, but still allows a fair
number of commercial customers to have unlimited flexibility to switch.

This is detailed and prescriptive language, but the customer group
parties were strongly convinced that any effort to craft regulations at
the CPUC would be much worse, leading to the desire to limit the CPUC's
discretion with specific language.  At this stage, after hearing that
CPUC Comm. Wood hoped to use ABX -1 to end direct access ( a comment
made to NEV or Greenmountain), we tend to agree.  We will get a better
negotiated result at the legislature than at the CPUC.

Thanks in advance for your fast turnaround on this.  Mike Day

 - subscription.protocols.doc


I was going to suggest that we inbed some wiggle in the specifications, but
no big deal.

Kay


Comrades:

Each year, we students have the opportunity to
recognize from among the esteemed faculty members of
Haas those who have distinguished themselves from
their peers by their commitment to the least glamorous
of their tasks: teaching us stupid kids how to read,
write and do complicated long division sums. The Earl
F. Cheit Award for Outstanding Teaching goes to that
individual we deem worthy, from a pool of candidates
we nominate, based solely on our judgment as students
about our instructors (or maybe we just like their
looks--but let that not dissuade us from our sense of
duty).  The administration and faculty have no voice
in this award process, but must gaze upon us silently,
in awe and amazement at our power of discernment.

Faculty who receive the Outstanding Teacher Award are
recognized for this important accomplishment by both
the UC Berkeley Campus and the Haas School of
Business. Last year's award went to Jonathan Leonard
(Core: Micro) with honorable mentions to Jonathan
Berke (Core: Finance) and Sarah Tasker (Elective:
Financial Information Analysis.)

We are currently soliciting nominations for Fall 2001
courses. So, if you have gotten over your indignation
for having been put in the dunce corner once too
often, and finished copying ?I will not put motor oil
in Professor Lyon?s hot cocoa ever again? one hundred
times, you may reply to this email with your
nomination. Alternatively, if your server is as balky
as mine, submit a hard copy to the Evening MBA office.

We can only consider nominations with a written
explanation. There will be another round of
nominations for Spring 2002, but please remember that
only one nomination per student is accepted, so if you
nominate another faculty member in the Spring, it will
supercede this Fall's nomination.  In May, we will
select one individual from all nominations, based on
number of nominations received and the strength of
feeling exhibited by the nominors.

Thanks, in advance, for your support of this important
and prestigious award.

Joe Tambornino
Chairman - Student Advisory Committee

__________________________________________________
Do You Yahoo!?
Send your FREE holiday greetings online!
http://greetings.yahoo.com


FYI
---------------------- Forwarded by Sally Beck/HOU/ECT on 02/05/2001 09:42 AM
---------------------------

Tricia Spence
02/02/2001 05:29 PM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: Promotions Luncheon for Managers

I will be unable to attend due to an off-site customer meeting.

Thanks
Tricia Spence
3-4222


Susan:  Please add Bob Hall's name to the daily delivery list for this log.

Thanks.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


Please note the following addition to the credit reserve for November 2001:

CP:  Taunton Municipal Lighting Plant
Deal No: 854982
Deal Date:  11/02/01
Deal Specifics:  EPMI sells physical to CP
Term:  1/1/2002 thru 12/31/2007
Volume: 25MW - 30MW, 7x24
Price:  2002 Fixed $38.45 USD
          2003 Fixed $37.27 USD
          2004 Fixed $36.02 USD
          2005 Fixed $35.98 USD
          2006 Fixed $36.28 USD
          2007 Fixed $36.67 USD
Region:  NEPOOL
Trader:  Dana Davis
Credit Reserve Amount:  $165,000 USD
RAC: transaction confirmed under 11/02/01 Power Supply Agreement between EPMI and Taunton Municipal Lighting Plant

Please call with questions or comment.

Thank you.

Kortney Brown
x30616


Hey you.  Two changes for me.

Home number is 713-527-0534
Mobile is 713-557-5095

thanks, pretty email too.

-----Original Message-----
From: Choate, Heather
Sent: Monday, April 29, 2002 1:40 PM
To: Barbe, Robin; Bridges, Michael; Concannon, Ruth; Denetsosie, Troy; Dicarlo, Louis; Figueroa, Chris; Garza, Maria; Germany, Chris; Gomez, Julie A.; Gregory, Paul; Kelly, Katherine L.; Lagrasta, Fred; Muench, Gayle W.; Polsky, Phil; Quezada, Daniel; Scott, Susan M.; Solis, Melissa; Tian, Yuan; Versen, Victoria; Zimmerman, Grant
Subject: Group Contact List

Please review your phone numbers in the attached Group Contact List.
I will make the necessary changes and then foward the final copy.

Thank you,
Heather S. Choate, CPS


David:
Do you have a simulation set up that will allow me to simulate trades by
pushing a buy or sell button and will move the two way so i can try
simulating actual market cicumstances?

From: David Forster/ENRON@enronXgate on 05/08/2001 09:55 AM
To: John Arnold/HOU/ECT@ECT
cc: Savita Puthigai/ENRON@enronXgate
Subject:

John,

You might recall we spoke a few weeks ago about a system with more
intelligence for out-of-hours trading than just leaving the products on Last
Trade is Mid.

Attached is a suggestion for how such a system might work. It builds on
Offset to Last Trade functionality.

The simplified description is: It tracks two variables: Intensity(Speed) and
Bias (Buy or Sell emphasis).  As Intensity increases, the Spread increases.
As Bias increases, the Offset increases.

I'll call later to see what you think of the idea.

Dave

Program Criteria

The formula which defines the trading decision-making program will need to
work with several criteria/inputs/definitions. These might be:

Intensity (Speed) - The average time between transaction attempts, regardless
of whether they are buys or sells. Measured as a moving average over the last
[Intensity Factor] transactions by comparing the timestamp of the transaction
Tibco messages for the Product.
Obviously, the lower the Intensity calculation, the higher the transaction
flow. Therefore a high Intensity number indicates low transaction flow.
Intensity Factor - The number of transactions to be included in the moving
average Intensity calculation. A possible value for this might be [4].
#Buys - The number of Buys which have occurred.
#Sells - The number of Sells which have occured.
Transaction Count - Could be either #Buys or #Sells (whichever last occured).}
Buy Offset - The Offset value which will be applied if a Buy occurs.
Sell Offset - The Offset value which will be applied if a Sell occurs.
Offset Reversion Ratio (ORR)- The amount by which the Buy Offset should be
reduced if a Sell occurs (or amount Sell Offset should be reduced if a Buy
occurs). A possible value for this might be [0.3]. If the application of the
ORR results in a reduction of less than 1, then the reduction shall be 1.
Transaction Reversion Ratio (TRR)- The amount by which #Buys should be
reduced if a Sell occurs (or amount #Sells should be reduced if a Buy
occurs). A possible value for this might be [0.3]. If the application of the
TRR results in a reduction of less than 1, then the reduction shall be equal
to 1.
Spread Minimum - The minimum Spread value allowed. A possible value for this
might be [0.04]
Spread Maximum - The maximum Spread value allowed. A possible value for this
might be [0.50]
Offset Minimum - The minimum Offset allowed for both Buys and Sells. A
possible value for this might be [0].
Offset Maximum -The maximum offset allowed for both Buys and Sells. A
possible value for this might be [0.50]
Initial Offset - The Buy and Sell Offset used when the program is started
Initial Spread - The Spread used when the program is started
Spread-Offset Minimum - The minimum amount by which Spread must exceed
Offset. Prevents a possible arbitrage opportunity for the customer. A
possible value for this might be [0.01]
Dead Interval - The period of time which must pass before the program will
recalculate the above Criteria, if no transactions have taken place during
the Dead Interval. A possible value for this might be [240] seconds.

Program Outputs

The program should output the following variables as a result of combining
the above Criteria in a user-defined Formula:

Spread (integer) - as per current Stack Manager
Offset (integer) - as per current Stack Manager
Suspension (boolean) - Whether or not the Product should be suspended.
Normally "False"

Program Interface and Operation Principles

The user should be provided with a GUI which will allow them to define a
relationship among the above Criteria, which will produce and apply the
Outputs to a particular Product. This relationship would be defined with
Intensity Formulas and Transaction Formulas.

Every time a Transaction occurs, or a Dead Interval passes, the Criteria will
be recalculated and the user-defined formulas will be reviewed by the
program. If a Dead Interval passes without any transactions taking place,
then Intensity = Intensity +240 and #Buys=#Buys-TRR and #Sells=#Sells-TRR and
Buy Offset = Buy Offset- ORR and Sell Offset = Sell Offset - ORR.

If the user-defined Formulas (see following) indicate that a change in spread
should occur, then if the Offset is zero (in the case of a trade occurring)
or if no trade has occured (during the passing of a Dead Interval), the
system shall perform a Last Trade is Mid calculation around the last
transaction, adjusting the buy and sell prices according to the new Spread
value.

Any adjustment to the Spread shall respect the Spread-Offset Minimum. If a
reduction in the Spread should violate the Spread-Offset Minimum, then the
Buy Offset (or Sell Offset, or both as appropriate) shall be reduced
accordingly. Similarly, if the Offset is increased by a Transaction Formula
to a level greater than the Spread, the Spread shall be increased to maintain
the Spread-Offset Minimum.

GUI/Formulas Example:

Constants
Intensity Factor: [4]
Dead Interval: [240]
Offset Reversion Ratio (ORR): [0.3]
Transaction Reversion Ratio (TRR): [0.3]
Spread Minimum [0.04]
Spread Maximum [0.50]
Offset Minimum [0]
Offset Maximum [0.49]
Spread-Offset Minimum [0.01]

         INPUTS           OUTPUTS
Intensity Formula
Formula # Intensity   Spread Offset  Suspension
S1  >220   -0.01 n/a F
S2  <30   +0.01 n/a F
S3  <10   +0.02 n/a F

Transaction Formula
Formula # # Transactions  Spread Offset  Suspension
V1  <4   n/a -0.01 F
V2  >3   n/a +0.01 F
V3  >5   +0.01 +0.02 F
V4  >10   +0.02 +0.04 F
V5  >15   +0.04 +0.15 F
V6  >20   n/a n/a T

Note that #Transactions would be #Buys or #Sells, as appropriate. Note also
that #Buys and #Sells are not intended to be an absolute count, but rather
are a moving measure of the number of buys or sells which have recently
occured.

In this example, all Constants and Formulae are editable by the user through
the GUI.

Simulation

Obviously, if we want to proceed, we will want to conduct several simulations
to prove concepts and evaluate responsiveness. However, to give some idea of
how the above might work when a market starts to run in a particular
direction, please see the attached:

Additional Features

System Notifications

There should be two kinds of notifications for the Robotrader, which will be
similar to Stack Manager Garbage Checks: Warning and Failure levels for both
Offset and Price. The warning levels will trigger a pager message. The
Failure levels will trigger a pager message and the product will be
automatically suspended. The Price checks will be against prices input by the
trader (not relative price movements, but actual price). There should be both
maximum and minimum price checks (e.g. gas is trading at $5.50. The
notification levels could be $8 at the top end and $2 at the bottom end).
Offset checks will only be against a maximum value.

Dave


rod and stan:
The attached file below represents the presentation that was given to Ray Bowen yesterday regarding the TW bankruptcy filing.  We will have a follow up tomorrow morning.

Kevin

 -----Original Message-----
From: 	Boyle, Dan
Sent:	Wednesday, December 19, 2001 5:50 PM
To:	Howard, Kevin A.
Subject:	RE: Bowen presentation

Dan O. Boyle
Vice President
Enron Global Finance
Phone:        713-853-1532
Mobile:        713-417-3532
Pager:         877-390-2838
Skytel PIN:  880FBF5

 -----Original Message-----
From: 	Howard, Kevin A.
Sent:	Wednesday, December 19, 2001 5:40 PM
To:	Boyle, Dan
Subject:	Bowen presentation

Dan:
Could you email to me the presentation that was given to Ray? I want to make sure that Rod and Stan know the exact details of what was discussed.

Thanks,

Kevin


Hi Scott,

	How are you?  Thanks for your email.

	I can appreciate your concerns about the public firm models, but am at a loss for what more I can say that has not already been said.

	Recall that during my recent trip to London, we had a conference call with Houston research, you, Bryan, Mike and Eric.  During this conference call Vince, Vasant, Amitava and I pointed out some of the "issues" with the public firm models and the data used to develop these models.

	In addition, after that conference call you, Bryan, Mike, Eric and I had further discussions as to how to sort out the public firm models.  During this discussion we all agreed that most of these issues had already been raised and addressed by George Albanis in the following documents:
		1.  EnronCredit.com Project Proposal - Movement Model and Parallel Work - Phases IV,  by George Albanis, December 2000
		2.  Meeting 25/01/2001 - Review, by George Albanis.

	I also forwarded copies of these documents to you and Ben via email on May 11th.  Just in case you can't find them, I will forward them again.

	Based on recent discussions with Jeff Kinneman, it is my understanding that he will be meeting with Vince and Bryan to figure out how to "repair" the public firm models.  Hence it may be more appropriate to direct any future concerns about the public firm models to their attention.

Regards,
Iris

 -----Original Message-----
From: 	Salmon, Scott
Sent:	Friday, May 25, 2001 11:45 AM
To:	Mack, Iris
Cc:	Kaminski, Vince J; Dhar, Amitava
Subject:	Report to Professor Duffie

Hi Iris,

I wasn't sure if you had already sent your report to Professor Duffie yet or not, but I've been thinking about ways that his group (or the Research team) could really add value in an area where we're admittedly weak - model testing.  If you haven't sent the report to him yet, perhaps we can request his opinions on best practices for testing models with limited quality out of sample test sets.  Obviously, I'd like to discuss this in detail with you as well, especially since you understand the characteristics of the models and data better now, but I'll do that via phone.  I'm hoping there are some statistical techniques we're currently ignoring that we can employ to maximize the testing we do and get a better handle on judging our accuracy.

If you've got some time Tuesday after our meeting where Mike catches us up on the D&B issues, I'd love to get your views as the model testbed is now in place and we're starting a model recalbration phase.  I'm least comfortable about our plans for stress testing the models once we've recalibrated them.

Looking forward to talking to you Tuesday.

Regards,
Scott


All -

We have saved any reports that we will need to use for p&l's in O: \ERMS \erms_adm \netco

For queries : O:\ERMS \Excel Queries

For Sitara Queries : O: \Devl \Sitara

Exotica

For OA : Roar(O:\Oa\Roar\NewROAR\Roar.bat) and (O:\Oa\Roar\NewROAR\Roar.mdb)

Exposure(O:\ClntSvc\Offsystems\flash\Update your local mdb (OAExposure) and (O:\ClntSvc\Offsystems\flash\OA Exposure Database)

RAM(http://ram.dev.corp.enron.com/) THIS IS AN INTRANET LINK.

From a systems perspective obviously ERMS,  TAGG,  Sitara, CPR.

Also,  to perform the queries we will need Oracle to look exactly as it does today.


Please let me know of any changes that need to be made.

Dave


Hello, Pat and I were thinking it would be nice to have a wedding shower
bbq for Alice and Jeff. I talked to Alice and Saturday, September 8th
woul be the best date. The 29th is a backup date. How does the 8th work
for you all.
I thought maybe we could the normal bbq and have a cake. Maybe for
the gift we could all put in money and buy something substanial. What
are your thoughts?  kari


Andreas,

This looks OK. I look forward to receiving a formal confirmation from you.

Vince

"Andreas Simou" <andreas.simou@dynamic-events.com> on 08/17/2000 11:49:29 AM
To: <Vince.J.Kaminski@enron.com>
cc:
Subject: Re: The GARP 2001 Convention: invitation to Speak

Dear Mr Kaminski

Thank you very much for agreeing to speak at the GARP 2001 Convention.

I will be sending you a formal letter of confirmation in the next few days,
in the meantime I have selected the session below for you and included some
preliminary details; are these correct? I apologize if your details are not
correct but this is the information that was available to me. Is the title
of the session to you liking, or would you like to 'spice it up' a little?

Measuring Energy Risk - Tackling Price Volatility, Adapting VaR, Scenario
Modelling and Regulatory Requirements
Vince Kaminski, Head of Quantitative Research, Enron Energy

Once again, thank you for agreeing to participate and I look forward to
working with you on this event.

Kind regards

Andreas

----- Original Message -----
From: <Vince.J.Kaminski@enron.com>
To: <andreas.simou@dynamic-events.com>
Cc: <Vince.J.Kaminski@enron.com>
Sent: Thursday, August 17, 2000 5:22 PM
Subject: Re: The GARP 2001 Convention: invitation to Speak

Andreas,

I shall be glad to speak. I can address topic 2 or 4
(energy risk or volatility).

Vince Kaminski

"Andreas Simou" <andreas.simou@dynamic-events.com> on 08/15/2000 09:58:26
AM

To:   <vkamins@enron.com>
cc:
Subject:  The GARP 2001 Convention: invitation to Speak

                            INVITATION TO SPEAK

GARP 2001

The 2nd Annual Risk Management Convention

13(superscript: th) & 14(superscript: th) February, 2001 ? Marriott World
Trade  Center, New York

Dear Kaminski

Further to my telephone conversation today with your secretary, Shirley
Crenshaw, and on behalf of the Global Association of Risk Professionals,  I
have great pleasure in inviting you to speak at our 2(superscript: nd)
Annual  Risk Management Convention ? GARP 2001.

This event has rapidly establishing itself as the risk management
industry's  most important meeting point. GARP 2000 reflected the key
concerns of risk  management experts world-wide, with over 400 attendees in
its first year. Three  simultaneous streams address traditional pricing and
risk management techniques,  along with specialised streams addressing new
sectors, such as the corporate  world and the insurance industry. With a
speaker panel of over 55 senior and  executive financial professionals from
investment banks, regulatory bodies,  asset management firms, academics,
insurers/re-insurers, corporate and system  providers this is THE financial
risk management event of the year.

Key areas that this Convention will consider include Market Risk (stress
testing, liquidity, jump diffusion, EVT), Credit Risk (regulation,
modeling,  stress testing, credit portfolio management, credit
derivatives), Operational  Risk, (regulation, data, modeling, validation,
EVT) Advanced Asset &  Liability Management, Corporate/Energy Risk
Management and the Insurance &  Capital Markets.

From my research and discussions with experts in this arena your name was
highly recommended as a speaker for this event. Below is the stream on
Corporate  / Energy Risk Management and I had in mind ONE of the sessions
below for you.  Also, the topic titles are provisional and I am open to
suggested  alterations.

Corporate/Energy Risk Management

   Modelling Corporate Risk ? Risk Management from a Shareholder Value
   Perspective

   Measuring Energy Risk ? Tackling Price Volatility, Adapting VaR,
   Scenario  Modelling and Regulatory Requirements

   Forward Pricing ? Construction of the Forward Curve, Correlations,
   Transparency Issues

   The Volatility Challenge ? Modelling Price Volatility and Examining the
   New Products Designed to Stabilise Volatility

   Energy Credit Risk Management

GARP is a not-for-profit, independent organisation of risk management
practitioners and researchers from leading financial institutions
world-wide.  GARP's mission is to facilitate the exchange of information,
developing  educational programs and promoting standards in the area of
financial risk  management. For more information please refer to our web
site: www.garp.com

I sincerely hope you will be able to accept this invitation and I look
forward to hearing from you in due course. Should you have any questions
please  do not hesitate to contact me, otherwise I will call you again on
to discuss  this further.

Best regards

Andreas

PS I have also attached a copy of GARPs 2000 program for your attention.
____________________________
Andreas Simou
GARP 2001 - Conference  Producer
Tel +44 (0) 20 7626 9301
Fax +44 (0) 20 7626  9900
(See attached file: Draft programme.doc)
(See attached file: g2000b&wlowr.pdf)


I will look into it.

Peter F Keavey
12/07/2000 07:06 AM
To: Jeffrey C Gossett/HOU/ECT@ECT
cc:
Subject: EOL trades doubled up?

Jeff,

since Dutch is still out could you take care of this ??  I'm not exactly sure
what he is talking about.  The trades should be part of a spread in whcich
reliant is also buying or selling the hub.
Thanks

---------------------- Forwarded by Peter F Keavey/HOU/ECT on 12/07/2000
07:03 AM ---------------------------

	From:  Larry Joe Hunter                           12/06/2000 08:36 PM

To: Peter F Keavey/HOU/ECT@ECT
cc: Kam Keiser/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT
Subject: EOL trades doubled up?

Pete,

I'm seeing some trades with your name as Trader which are at extremely high
prices.   Transco Z6 vs. Henry Hub trades at prices of $15.6025 from Trade
Date of 12/5.  Are these errors?  EOL numbers are 658961 and 658985 (both
with Reliant).  No confirmation has been sent on these.  Please have your
Book Admin notify me as soon as you get a chance to look at these.

Thanks,
Joe Hunter


Start Date: 4/12/01; HourAhead hour: 17;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041217.txt


- WSPP SUMMARY OF 1-28-00 MTG.doc


NY market info as you requested.
---------------------- Forwarded by Gregory T Adams/HOU/EES on 04/19/2001
02:21 PM ---------------------------

	Enron Energy Services

	From:  Dwight Fruge                           04/19/2001 12:03 PM

To: Gregory T Adams/HOU/EES@EES
cc:
Subject: NY Info

Per your request.  Let me know if you need anything else.


I liked Cole's, too, and especially the quiet, homey atmosphere.  Richard Cole
has been around the local restaurant scene for years, and he and his partner Paul
did almost all of the build-out themselves, and Richard is chef.  It's nice to
see local folks open a little local restaurant.  Maybe they'll be another
Barnaby's success story.

Speaking of which, it's all but impossible to get into the newly opened Barnaby's
on West Gray--already.  And at least three other restaurants have died at that
location--amazing!

Gayle Ramsey

txbarnesj@aol.com wrote:

> To add to the next Newsletter:
>
> Julie,
>
> My partner and I have not been very visable at any of the local meetings,
> however we ALWAYS anxiously await the next installment of the newsletter.  We
> have been extremely busy making the house we bought  on Bomar liveable,  it
> was barely that way when we bought it.
>
> We wanted to add to your restaurant review.
>
> Cole's on Waugh is a fairly decent restaurant with an OK menu.   The Garlic
> soup was a definite hit,  and the atmosphere was great.  The wine list is
> good and the prices were very reasonable.
> The entrees need a bit of work,  the beef was very "Gamey", the chicken
> dishes were dry,  and the fried shrimp were a bit greasy.
>
> All things aside we have eaten there three times,  and deem it worth while.
> We have seen the menu and service improve with each visit.  Our hope is that
> if enough people visit Cole's the menu will improve.  It is in a very
> convenient location and the owners and staff are very friendly.
>
> Thanks
> Joe Barnes
> Thomas Marks
> 900 block of Bomar
>
>
> To unsubscribe from this group, send an email to:
> emca-unsubscribe@egroups.com
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/

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Start Date: 1/11/02; HourAhead hour: 9;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011109.txt


MS is a pass through in the transaction and should not be an issue.  Does RBS have commodity derivatives capability, they would also need a delta or MS type relationship. We would also need to have an ISDA master in place?

James send a email and said that he would update me when they had news.

Dan

Dan O. Boyle
Vice President
Enron Global Finance
Phone:   713-853-1532
Mobile:  713-417-3532


Glad to hear that everything is OK. I will give you a call in a couple of days when things settle down. Hopefully air traffic will resume soon because I am stuck living in the Hyatt in Houston.

Chris

 -----Original Message-----
From: 	"Jill Frizzley" <JFrizzley@Shearman.com>@ENRON [mailto:IMCEANOTES-+22Jill+20Frizzley+22+20+3CJFrizzley+40Shearman+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Wednesday, September 12, 2001 1:10 PM
To:	lisajean.lewis@gatx.com; aracal@yahoo.com; nigeljlawrence@hotmail.com; kerrie.murray@telus.com; jymiller@knightsbridge.com; adam.s.cohen@gs.com; pedeybird@hotmail.com; daviesja@hotmail.com; c_dennstedt@hotmail.com; rfetches@bmjgroup.com; msveinson@van.fasken.com; mpedersen@cochrane-group.ca; shaunasnow@hotmail.com; scurran@wtcmontreal.com; lisa_mc_horvath@yahoo.com; sarah.egan@jus.gov.on.ca; jesberry@hotmail.com; mtorosian@wsgr.com; f_fenton@stblaw.com; pkonieczny@bear.com; kelly.p.liles@accenture.com; jon.p.hull@accenture.com; craig.d.stewart@accenture.com; danderson@ingdirect.com; binger75@hotmail.com; chris_dorland@enron.com; kimpersson75@hotmail.com; darmstro@skadden.com; aarmstro@mobilocity.com; krista.m.weir@ca.pwcglobal.com; ppgm@hotmail.com; Jolene Harvey; mfetches@bowne.com; mohanlon@hotmail.com; cmurray@ucalgary.ca; kpal00@hotmail.com; singledew@hotmail.com; frizz@canada.com; devinfrizzley@hotmail.com; becstorvik@hotmail.com; kristajohnstone@hotmail.com; Darin H Bassin; Nicole D Scaramelli; Denis R Rajotte; linero@vf.enitel.no; egansarahf@hotmail.com
Subject:	accounted for

I just wanted to thank all of you for getting in touch over the past day
and a half and expressing your concern for my well-being and the well-being
of my friends here in New York.  At a time of crisis of such a magnitude it
helped to feel loved even though I am far away from most of you.  I am sure
I will talk to most of you over the next couple of days if I have not done
so already.

Thanks again,

Love Jill

********************************NOTICE*************************************
This transmittal and/or attachments may be a confidential attorney-client
communication or may otherwise be privileged or confidential.  If you are
not the intended recipient, you are hereby notified that you have received
this transmittal in error; any review, dissemination, distribution or
copying of this transmittal is strictly prohibited.  If you have received
this transmittal and/or attachments in error, please notify us immediately
by reply or by telephone (call us collect at +1 212-848-8400) and
immediately delete this message and all its attachments.

Thank you.


No.10 on your list is Jack Welch, who is CEO of General Electric not General
Motors. Please note this.
Regards
Jay N. Patel
EE & CC, Houston,TX

  The eThink Team
From: eThink@ENRON on 07/05/2000 08:08 PM
Sent by: Enron Announcements@ENRON
To: All Enron Worldwide
cc:
Subject: eSpeak Survey: The results are in!

We recently asked you to create an eSpeak "wish list" for us.  The response
was tremendous and, in some cases, very creative.  Your fellow employees
asked for everyone from Britney Spears to George Bush.  In all, we received
requests for 61persons outside of Enron to host an eSpeak event.  We thought
you might like to know who your colleagues find interesting, so we've
provided a sampling of the suggestions below.  Here are the top ten most
requested eSpeakers.

10.  Jack Welch, CEO, General Motors
9.  Scott McNeally, CEO, Sun Microsystems
8.  Satisfied Enron Customers
7.  Stephen Covey, author, The Seven Habits of Highly Effective People
6.  Oprah Winfrey, talkshow host
5.  General Colin Powell, former Chairman, Joint Chiefs of Staff, U.S.A.
4.  Alan Greenspan, Chairman, Federal Reserve, U.S.A.
3.  Former U.S. President George Bush
2.  Bill Gates, CEO, Microsoft
1.  Texas Governor George W. Bush

While we can't make any promises, we will do our best to bring in at least
some of these special guests.  If you have any contacts who could help us get
in touch with these guest speakers, please let us know at ethink@enron.com.
Everybody needs a little help now and then, even eSpeak.

There were plenty of internal speakers requested, as well.  Those requests
should be somewhat easier to meet, although scheduling time with some of our
colleagues can be quite a task!

Thank you all for your participation.


Dale,

Thanks for the update. I fully concur with all the rankings.
It seems things are going well with the Research Group in
London and this is, to a very large extent, your contribution.

I think that Anjam has improved a lot. I don't think, however,
that he can run the group in the future. Steve emerged as a natural
leader and has overwhelming support in the organization.

Vince

Dale Surbey
06/15/2000 02:28 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: London Research PRC

Vince,

We had the PRC preranking for RAC and Research in London yesterday.  Here's
how everyone came out:

Steven - Superior:  No controversy here.  Steve received consistently strong
feedback (ranked as either superior or excellent in all categories).  The
only rough spot was teamwork, arising from the friction between Anjam and
himself.

Anjam - Excellent:  Anjam received rankings of Superiors or Excellents in all
categories.  Several reviewers commented that Anjam's performance in the
areas of producing results in a timely manner and communication have
improved.  I felt the overall ranking of excellent was justified based on
this feedback, even though in terms of leadership I don't rate him high
enough to run the group here.

Stinsen provided the most insightful comment on Anjam's performance:
"Technically superior but lets his quest for a leadership position detract
from his overall performance".

On a related topic, Anjam has been taking random days off, typically on short
notice, so I suspect he's interviewing for a new job.  Given his inability to
work with Steven (especially in the future when Stephen heads the group),
this may be the best long-term solution.  Any thoughts?

Ben - Superior:  Another non-controversial ranking.  Ben received
consistently high marks from all the groups he supports, especially in the
area of non-technical skills.

I nominated Ben for promotion to Senior Specialist.  Even though he was
promoted at year end, he's taken on a lot of responsibility training Kirstee
and helping manage the other quant resources in Brian's group.  Also, since
Kirstee was hired in at the same level as Ben, a mid-year promotion is
appropriate since he's effectively her supervisor.

Kirstee - Strong:  Only limited feedback in the 2 months she's been here.
High marks for technical/quantitative, strong in the "soft" skills.  I think
the strong rating is the right message for early in the game - gives her a
target for improvement for the rest of the year.

- Dale


Tuesday, November 27, 2001

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