Per our conversation...please follow-up with Jean.  I do not want this to appear that Barry was spoke with last week and we all were keeping it from her.  She is a friend as well as a co-worker.

Thanx for understanding,
Laura


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Start Date: 4/16/01; HourAhead hour: 14;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041614.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 14 / Preferred:   5.76 / Final:   5.75)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 4/16/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 14 / Preferred: 137.52 / Final: 137.52)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 4/16/01
  SC_ID: EPMI


Mark,  I joined the foundation today and should be in the system.  Let me
know if there is anything else you need.

Thanks for your help.
Gerald Nemec


Group,
Some heads up for this weekend.  For CAPS problems see Mike Tully, his contact info is below.  Also, the generators should have their supps submitted already, but if you decide to sell them real-time be sure to withdraw their supplemental bids.  We are still short at Mead 230.  From HE 1 on Saturday to HE 22 at $50.34 at Mead 230 going to CRC (remember this schedule ends HE 22 on Friday before starting back up HE 1 on Saturday).  Finally, you may have already seen it in Kate's email but BLOOMBERG TRADES ARE FLAT BROKER FEES PER TRADE (WITH NO MW DISTINCTION), PLEASE CLICK OFF THE PER MW TOGGLE NEXT TO THE FEE.

Thanks and call me with any problems.
Bill

 -----Original Message-----
From: 	Tully, MIchael
Sent:	Friday, June 08, 2001 1:25 PM
To:	Williams III, Bill
Cc:	Poston, David
Subject:	Weekend CAPS

Hey Bill, Could you please let your Real Time guys know that the contact this weekend will be me. My Cell Number is 503-807-7862 and an alternate number is 503-752-0426. TJ Butler will be out of town and not accessible.

Thanks

Michael Tully
Application Support, Portland
(503)464-7790 Desk
(503)807-7862
michael.tully@enron.com


I am working on a deal to move TurboPark equipment into Enron owned LLC's,
with a simultaneous sale of  80% of the equity to a third party.  This deal
is supposed to close by Jan 15, so I'm getting a crash course on TurboPark
and how to get stuff out of it during the early phase.  I thought I would
share what I'm learning, if nothing else as a form of therapy.

Attached to the email is what I believe to be the proper form of notice to
take something out of TurboPark.  Five to fifteen business days' notice is
required.

There will be other documents involved as well:

Bill of Sale
Assignment and Assumption Agreement
UCC releases, if applicable (UCC filings are made on all delivered equipment)

I suspect a consent by the equipment seller may also be required.  More to
come on this one.

As I learn more about the process I will keep you advised.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/03/2001 08:52
AM ---------------------------

Kay Mann
01/03/2001 08:28 AM
To: Fred Mitro/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Rebecca
Walker/NA/Enron@Enron, Kathleen Carnahan/NA/Enron@Enron
cc: Catherine Clark/HOU/ECT@ECT, Lisa Bills/Corp/Enron@ENRON, Roseann
Engeldorf/Corp/Enron@ENRON

Subject: CA Development I and II notice of exercise of purchase option

I am attaching a revised draft notice of intent to exercise the purchase
option for the equipment for the CA transactions. We need two separate
notices - one for CA I and one for CA II.  Ben/Fred/Rebecca, could you please
prepare a draft of the two exhibits?

Lisa/Catherine/Rose, I revised the form of notice to make it track the
participation agreement and the development and construction management
agreement.

I've tentatively dated the notice as of this Friday.  By my calculations,
Monday is our drop dead date since a waiver of the 5 day period is not an
option, and the deal dies if not closed by the 15th.

Ben mentioned that I should be drafting a "release letter" for the banks
and/or DevCo. It would be a big help if someone could point me to the section
in the documents which set forth the requirements of the release, since I'm
still wading through it all and haven't found the relevant language yet.
Also, please advise of the results of the conference call which you had with
the lenders (?) and/or their lawyers regarding the issue.

I am working on the assignment and assumption agreement.

Thanks,

Kay


Sophie,

I think it's a fair deal.

Vince

Sophie Kingsley   08/30/2000 11:49 AM

To: Dale Surbey/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Michele Small/LON/ECT@ECT
Subject: Re: Confidential

Both,

Thanks for your comments and comparisons, it is good to get context.

Based on your comments here would be my proposal

o63,500 basic salary -
o15K kickers for each of the 2 years - These are paid as a lump sum on each
anniversary guaranteed.  Therefore guaranteed salary is effectively o78,500 -
this is completely separate and in addition to any performance bonus
Increase the value of options to o60K  to vest 1/3 as before - which leaves a
1/3 ($20,000 ) hanging out there at the end of the contract.

Just FYI - Anjam is currently on o68,000 but does not have an agreement, so
this would effectively put a 10.5K gap between the two.

Let me know your thoughts.

Dale Surbey
30/08/2000 16:09
To: Sophie Kingsley/LON/ECT@ECT
cc:

Subject: Re: Confidential

Sophie,

Here's Vince's comments on your proposal for Steve.  Also, what's a 2-Yr
Exec?  How do the kickers work - are they basically a guaranteed minimum
bonus or incremental bonus?

- Dale

---------------------- Forwarded by Dale Surbey/LON/ECT on 30/08/2000 16:10
---------------------------

Vince J Kaminski
30/08/2000 14:21
To: Dale Surbey/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT

Subject: Re: Confidential

Dale,

Thanks for your message.
I don't know the labor market  in London that well but here the market
for quants is very hot.  Steve is in my view an exceptionally talented person
and I would go an extra mile to retain  him long-term for the company.

I would adjust the base salary or the kicker upward a bit.
o62,000 Basic  is what Anjam is receiving currently  (if I remember
correctly). Steve has a much higher value
to Enron than Anjam.

Vince

Dale Surbey
08/30/2000 07:49 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Confidential

Vince,

This is the package HR is proposing for Steven.  What do you think?

- Dale

---------------------- Forwarded by Dale Surbey/LON/ECT on 30/08/2000 13:50
---------------------------
Sophie Kingsley   29/08/2000 20:32

To: Dale Surbey/LON/ECT@ECT
cc:

Subject: Confidential

Sorry Dale, long day, here are the proposed numbers

2 Year Exec
o62,000 Basic  ( currently o55K )
o10K each year kickers
$50,000 worth of options to vest 1/3 1/3 1/3

Let me know what you think.

Regards

Sophie


Heather - send me the other RC and I will add it to the request.  Thanks!

Eileen Buerkert
IT Sourcing and Procurement
713-345-6272

	Harry Arora@ECT
	12/18/2000 02:49 PM

		 To: Eileen Buerkert/NA/Enron@Enron, Barbara Lewis/HOU/ECT@ECT, Heather
Alon/HOU/ECT@ECT
		 cc:
		 Subject: Re: Approval needed for PO No. 20120613 and PO 20120612

Approved - Pls  bill half to DealBench RC and the other half to Networks
corporate RC (Louise Kitchen) - that RC could be provided to you by Heather.

Thanks

	Enron North America Corp.

	From:  Barbara Lewis                           12/18/2000 02:17 PM

To: Harry Arora/HOU/ECT@ECT
cc:

Subject: Approval needed for PO No. 20120613 and PO 20120612

---------------------- Forwarded by Barbara Lewis/HOU/ECT on 12/18/2000 02:14
PM ---------------------------

Eileen Buerkert@ENRON
12/18/2000 02:11 PM
To: Heather Alon/HOU/ECT@ECT, Barbara Lewis/HOU/ECT@ECT
cc: Enron IT Purchasing@Enron
Subject: Approval needed for PO No. 20120613 and PO 20120612

Heather,

Per our conversation, I am going to go ahead and process this order without
the keyboards and/or mice.  The desktops, monitors and Palm Pilots come to
roughly $34,000, which means I will need approval from a Sr. Director before
I can place the order.  Can you have the appropriate person send me an email
with his/her approval?  I will place the order as soon as I have that.
Thanks!

Eileen Buerkert
IT Sourcing and Procurement
713-345-6272
----- Forwarded by Eileen Buerkert/NA/Enron on 12/18/2000 02:13 PM -----

ECT Hardware Request	Request #:ECTH-4S5N9T
	Request Status:New

				Request information:
Requested By:	Barbara Lewis		Phone:	3-5085
Requested For:	Barbara Lewis		Location:	EB 2158
SAP Cost Center #:	103237		User Mgr Approval:	Barbara Lewis
CO #:	1149		WO # / Project #:
CO Name:	Enron Net Works		User Phone:
Priority:	Normal		Due Date:	12/21/2000
Request Type:	Upgrade Existing		Request Date:	12/18/2000 11:16:28 AM
RAM:			CD-ROM:
Docking Station:			Local Printer:
Justification:
User Selected HW:				Standard 18" Flat Panel x 9
Standard Desktop x 9
Quad Card x 2
Cordless Straight KB/Mouse x 9
3COM Palm IIIx x 2
User Comments:	This equipment will be used for the DealBench Auction Control Room
located on EB 27.  Please rush all equipment ASAP.  The room will be
completed in the near future.  All flatscreen monitors, keyboards and mice
should be BLACK.  If additional information is needed please contact me at
ext. 3-5085.

Hardware selected for this request:
Item Number	Item Name

159244-001
159244-001
159244-001
159244-001
159244-001
159244-001
159244-001
159244-001
159244-001
612304
612304	EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
EN 6600 DESKTOP P3-600 10GB 64MB 32X NT 4.0
EN 6600 128MB INSTALLED IN DESKTOP
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
CORDLESS STRAIGHT KB/MOUSE AND CORDLESS DESKTOP ITOUCH
PALM PILOT IIIXE
PALM PILOT IIIXE
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
18IN TFT8020 FLATPANEL CARBON
QUAD CARD/COLORGRAFIX PREDATOR LT
QUAD CARD/COLORGRAFIX PREDATOR LT

	Comments and process information:
IS Group Comments:	eb//holding off on keyboards and mice
Ops Group Comments:
Date Completed:

Revision History:	Eileen Buerkert
Eileen Buerkert
Eileen Buerkert
Eileen Buerkert
Eileen Buerkert
Eileen Buerkert	12/18/2000 02:05:24 PM
12/18/2000 01:44:27 PM
12/18/2000 01:44:17 PM
12/18/2000 01:43:32 PM
12/18/2000 01:43:28 PM
12/18/2000 01:43:06 PM


Here are the deal #'s for the deals I received late yesterday afternoon.

Dominion E & P (Gas Daily)	1146323
Texaco (Gas Daily)		1146375
Dominion E & P			1146428
Western Gas Resources		1146603

I also received an England Energy confirm/deal from you.  I put notes on the two GD deals like you wrote on the deal.   Let me know if you have anymore deals.

Carole C, Frank
Enron Net Works

713.345.3960 work
713.446.9307 cell


Vince,

I agree - I'll talk with Sherriff when he gets back to London next week.

- Dale

Vince J Kaminski
11/07/2000 20:49
To: Dale Surbey/LON/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT

Subject: Re: Steve Leppard

Dale,

My recommendation is to make Steve the head of the research unit in London.
We were talking originally about September but I think we should accelerate
this process.
Of course, Anjam will be very unhappy about it, but we cannot manage around
him
any longer.

I think that the promotion should be combined with a salary increase.
I would like to offer him a significant increase that
goes with expanded responsibilities and much higher visibility.
A salary increase will also bring him closer to the market.
 We see the market for  technical people going through the roof in
practically every location
where we operate.

A contract is not a good solution in my view. It creates a sense of false
security for
both an employee and the company.

I shall send a message to John Sherriff with my recommendation. I shall cc
you.
I would appreciate if you could bring it up with John as well.

Vince

Dale Surbey
07/11/2000 10:23 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Steve Leppard

Hi Vince,

HR is working on a mid-year salary review for London people that have a
noticeable gap between their compensation at Enron and what we would have to
pay in the market for a replacement.  They highlighted Steve as someone with
a potential gap - particularly in light of what we're seeing in our quant
recruiting effort for credit trading and research.

I'd like your opinion on the best way to make sure we keep Steve happy and
keep him at Enron.  There are several things I see we can do:

1)  Give him a mid-year pay increase to move him closer to market.  I'm not
sure this is the best way to go, especially if we only offer him a token
salary increase.

2)  Offer him more responsibility:  What are your thoughts on timing for
making Steve the official head of the London research team?  With my move to
EBS, should we accelerate this?  I think this is good way to keep him happy
and motivated, and then follow up with a more meaningful salary review at
year-end (as part of the regular process) that takes into account his greater
responsibility.

3)  We have some people that we're trying to get under long-term (3-yr)
contract with a 12-month notice clause.  Obviously anyone signing one of
these will want significant up-front compensation for being handcuffed.
We've not had a lot of success with these here in London, and I would prefer
to keep Steve happy so he wants to stay with Enron rather than contractually
binding him to the job.

I'd value your thoughts on this.

Thanks,

Dale


17-May	18-May	21-May	22-May	23-May	24-May	25-May	29-May	30-May	31-May	1-Jun	4-Jun	5-Jun	6-Jun
Aluminum	0	0	7	7	8	2	0	4	6	12	8	4	4	6
Copper	5	5	14	8	2	5	1	1	4	3	2	4	3	4
Gas	5	6	14	19	8	5	8	12	6	5	3	2	5	2
Zinc													1	1
Total	10	11	35	34	18	12	9	17	16	20	13	10	12	12

Note: Transactions are in pairs, therefore the number of gas transactions for June 6 is 10 etc.


SK - I printed this out for you and also gave Rick a copy.  mm

Cynthia's accomplishments and objectives are included in the attached.
Please let us know if you need anything additional.  Thanks.


In the wake of US and British military action in Afghanistan, Washington has become increasingly concerned about the potential for a major military conflict between Pakistan and India, according to a high level US intelligence official, and the control of nuclear weapons in the region is being monitored.  There is also fear for instability in Saudi Arabia, where little information is available about the capabilities and intentions of Islamic extremist elements.  Consensus opinion has been built in Washington that Iraq was involved in the 11 September terrorist attacks on the US, exacerbating fears that the situation in the region could spiral out of control.

According to a senior US intelligence official, US policymakers have become increasingly concerned about the prospects for instability in the Middle East and South Asia.  Washington is focused particularly on the potential for a major conflict between Pakistan and India, and intelligence officials are attempting to track the location and control of nuclear weapons in the region.  Secretary of State Powell's trip to the two countries, although portrayed publicly as part of the effort to ensure support for US military action in Afghanistan, is in fact intended to address tensions between Islamabad and New Delhi, which have grown in recent days.  (India shelled several Pakistani military outposts in the disputed Kashmir territory today; an Indian army general described it as a "punitive action.")

Washington is also significantly more concerned than media coverage would suggest over the potential for major unrest in Saudi Arabia.  This fear is heightened by a lack of detailed information available on the royal family's grip on power and the capabilities of Islamic extremist elements in Saudi Arabia, which share similar goals: removal of the Saudi dynasty, establishment of a true Islamic state, and the removal of the US military presence.  Saudi and US officials regard bin Ladin as one of the prime perpetrators of Islamic extremist violence in Saudi Arabia and elsewhere in the region.  Bin Ladin has been outspoken in his criticism of what he calls 'military occupation' of Saudi Arabia.  Unrest in Saudi Arabia could have a relatively dramatic impact on regional stability and the global economy because of its leading role both in the Arab world and in OPEC.

US government officials are now generally convinced that the Iraqi government played a role in supporting the 11 September terrorist strikes in the US.  The well-publicized difference of opinion between senior State and Defense Department officials over the handling of the Iraq question has been reported accurately in the media. Concern is growing within Washington that the situation in the Middle East could spiral out of control if Iraq were drawn into the military conflict precipitously, if major hostilities between Pakistan and India were to break out, or if the Saudi royal family's grip on power were to loosen.


Tana -

Did we finalize the TradeSpark NDA yesterday?  Please let me know.

Thanks.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com
----- Forwarded by Mark Greenberg/NA/Enron on 03/01/2001 09:06 AM -----

	"Fogel, Stephen" <SFogel@cantor.com>
	03/01/2001 08:39 AM

		 To: "'Mark.Greenberg@enron.com'" <Mark.Greenberg@enron.com>
		 cc: Michael.Bridges@enron.com, Tana.Jones@enron.com, "Hayes, Robert"
<RHayes@cantor.com>, "Williams, Mike" <MWilliams@tradespark.com>
		 Subject: RE: TradeSpark NDA

Thank you. My understanding is the pricipals want to meet Fri. If we can
finalize today, that would ne great.

-----Original Message-----
From: Mark.Greenberg@enron.com [mailto:Mark.Greenberg@enron.com]
Sent: Wednesday, February 28, 2001 9:51 AM
To: Fogel, Stephen
Cc: Michael.Bridges@enron.com; Tana.Jones@enron.com
Subject: RE: TradeSpark NDA

Stephen -

This is acceptable.  I will move forward on finalizing the NDA.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com

                    "Fogel,

                    Stephen"             To:
"'Mark.Greenberg@enron.com'"
                    <SFogel@canto        <Mark.Greenberg@enron.com>

                    r.com>               cc:     Michael.Bridges@enron.com,

                                         Tana.Jones@enron.com

                    02/27/2001           Subject:     RE: TradeSpark NDA

                    12:05 PM

Mark, thank you. We would request that in Paragraph 3 the "Except as
otherwise provided" languge be deleted and the language below be added in
replacement.

"The parties acknowledge and understand that this agreement does not limit
or restrict the ability of either party to engage in its respective
business, nor does it limit either party's use or application of any
information or knowledge acquired independently of the other without breach
of this agreement in the course of such business.

Is this acceptable?

-----Original Message-----
From: Mark.Greenberg@enron.com [mailto:Mark.Greenberg@enron.com]
Sent: Tuesday, February 27, 2001 9:55 AM
To: Fogel, Stephen
Cc: Michael.Bridges@enron.com; Tana.Jones@enron.com
Subject: RE: TradeSpark NDA

Stephen -

The below language is acceptable; however, I would suggest it be placed as
the first sentence of Paragraph 3, if it remains TradeSpark's position that
the existing first sentence of this paragraph (beginning with "Except as
otherwise provided ....") is to be deleted.  If the existing first sentence
is to remain, the language you propose should be added as the second
sentence of paragraph 3.

Please confirm the above and I will move forward on finalizing the
agreement.

Thanks for your cooperation.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com

                    "Fogel,

                    Stephen"             To:
"'Mark.Greenberg@enron.com'"
                    <SFogel@canto        <Mark.Greenberg@enron.com>

                    r.com>               cc:     Michael.Bridges@enron.com,

                                         Tana.Jones@enron.com

                    02/26/2001           Subject:     RE: TradeSpark NDA

                    05:22 PM

I believe I understand your concerns - I would like to suggest that we add
the following language after the first sentence of Paragraph 3 - and then
execute the Agreement.

-----Original Message-----
From: Mark.Greenberg@enron.com [mailto:Mark.Greenberg@enron.com]
Sent: Monday, February 26, 2001 4:55 PM
To: Fogel, Stephen
Cc: Michael.Bridges@enron.com; Tana.Jones@enron.com
Subject: TradeSpark NDA

Stephen -

Since we keep missing each other, I wanted to drop you a note about the
comments TradeSpark made to the Enron NDA.

As to the comments:

Paragraph 1 - The changes are acceptable.

Paragraph 3 - The rationale for this deletion needs to be provided.  I
cannot see why this change was made or is necessary.

Paragraph 5 - This deletion is unacceptable to Enron.

When you get a chance, please call me to further discuss Paragraph 3.

Thanks.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


Energy  Committee Members:
?
-----Original Message-----
From: Tannehill, Terrie J.  [mailto:tjt@cpuc.ca.gov]
Sent: Friday, May 25, 2001 10:30  AM
Subject: Real Time Pricing Workshop Summary

<<MeterStatus-CPUC-workshop-052101.ppt>> ????  <<RTPOverviewCEC.ppt>> ?
<<CPUC Real Time Pricing Workshop Summary_Final.doc>>

Parties:? Any questions regarding the attached  workshop summary should be
addressed to Steve Roscow (415-703-1189) or Sal  Peinado (415-703-2968).

 - MeterStatus-CPUC-workshop-052101.ppt
 - RTPOverviewCEC.ppt
 - CPUC Real Time Pricing Workshop Summary_Final.doc


got it.

-----Original Message-----
From: Steffes, James D.
Sent: Tuesday, October 09, 2001 6:49 PM
To: Ryall, Jean
Cc: Dasovich, Jeff
Subject: RE: Do you know Laura Doll?

Dasovich this is in your court.

Jim

-----Original Message-----
From: Ryall, Jean
Sent: Monday, October 08, 2001 11:46 PM
To: Steffes, James D.
Cc: Dasovich, Jeff
Subject: RE: Do you know Laura Doll?

Yes, I have known her for quite some time.  She is the one who recommended me to Korn Ferry for the job that I have at Enron.  I will be happy to make the introduction.  Shall I make arrangements for a meeting in Pebble Beach???

I'll give her a call when you say the word...Jean

-----Original Message-----
From: Steffes, James D.
Sent: Sun 10/7/2001 9:48 AM
To: Ryall, Jean
Cc: Dasovich, Jeff
Subject: Do you know Laura Doll?

Jean --

Laura Doll has been appointed head of the CA Power Authority.  Do you know her?  It would be good to have an introduction for Jeff Dasovich.

Jim


Matt,

Hey, thanks for returning my call.  As you're probably out from work, I'll
try you again when I get in tomorrow (thursday).  I basically just wanted to
touch base again since Ken has now moved on and left me with our synthetic
storage project.  I'm also looking for a legal and EOL contact to help us
develop a contract and run the bid process through EOL.  You may have
provided these to Ken, but I can't get in touch with him.  Thanks again.

Mat


H town is good. Work is crazy but I like my new role. The weather is nice vs.
snow in Cow town. How are things with you? Are you still commuting across the
country? What is your buddy at William's name? Do you know what region he
trades? Getting busy now better hop.

Keep in touch,

Chris


Thank you.

Robin


Will you follow up with this guy?  Great seminar.  I enjoyed your talk.  SS

To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: City of Palo Alto

Hey Sara -
I think we might be doing a survey (I am not sure).  I ahve been telling
select cities that Merced irrigation has signed a ISDA.

Stewart

Sara Shackleton
05/20/99 08:54 AM
To: Stewart Rosman/HOU/ECT@ECT
cc:
Subject: City of Palo Alto

Tom Kabat, Senior Resource Planner, Resource Management Division for the City
of Palo Alto, Utilities Department, gave me his card yesterday and said he
wanted to get an ISDA started for future trading.  He asked if we had ISDA's
with any other cities, that is, it might make his job easier.  Are you guys
sending follow-up letters to the attendees?  SS

Phone:  650/329-2659

Fax:  650/326-1507


Done

	From:  Dutch Quigley @ ECT                           02/27/2001 09:36 AM

To: Joey Taylor/NA/Enron@ENRON, Errol McLaughlin/Corp/Enron@ENRON
cc:

Subject: Kill EOL Deal

Please Kill Deal QU0208.1 with Idacorp done at 9:02:40 am


Stage One Weather Alert issued for ERCOT. The
Stage One Weather Alert was issued for
ERCOT starting on 12/13/00 at 09:20. Notified all
Control Area's via Hotline. The Northern
half of the state is still below freezing with
some accumulation of ice according to Weather
information.


Join Jeff Skilling on eSpeak at ethink.enron.com on Tuesday, May 16 at 10:30
a.m. Houston time.  Jeff, Enron president and COO, will be talking about
Enron's international strategy and how we plan to optimize our international
assets and investments.

Are you at a remote location or can't make the event?  Go into eSpeak now and
pre-submit your question(s) for Jeff to answer during the scheduled event.
Immediately following the session, the transcript will be posted into the
eSpeak archives where you can retrieve it at any time ) simply click on the
"Archives" button on the bottom right hand side of the screen.

eThink: Invest Your Mind


Britt- great memo.  I'm sure you guys are in the course of discussing these
very issues, but here's my two cents worth.
1.  Once we decide on an optimal forum, the key step before filing a lawsuit
is the assessment of our probability of success--for different reasons than
is usually the case.  We need to weigh the chances of a favorable judgment
against El Paso against the probability and extent of collateral damage to
our defense (not just TW but all of GPG) in Quinque, et al.
2.  I like our case a lot based on what I've seen so far--if I've got it
right, our claim is that El Paso breached the 1990 measurement agreement by
not calibrating the meters as required and therefore by allowing the error to
arise and remain uncorrected for so long.  Under the NM statute, we may get 6
years worth of recovery ( or more, I guess, if they did something to toll the
SOL).  Under the Texas SOL, maybe less.  Do we have a good argument that the
1% standard in the measurement agreement and the 2% standard in El Paso's
tariff do not absolve them of conversion or breach liability?  Seems to me
that El Paso will argue that the FERC tariff preempts our contract
rights--but I think the law is on our side there.
3.  The tricky issue then becomes whether our prosecution of the claim
against El Paso plays into the hands of our adversaries on the Quinque mess.
If so, how do we quantify that risk to allow a rational balancing of the pros
and cons.  I'm glad smart guys like you two will have to do that thinking.
As usual, I'll try to stay on the sidelines and nod intelligently when you
make a recommendation.  DF

PS:  I'm ok with the outside counsel recommendation.


Thanks Tana for the vote of confidence, but you are the best.

Clem

	Tana Jones@ECT
	10/30/2000 02:37 PM

		 To: Clement Abrams/Corp/Enron@ENRON
		 cc:
		 Subject: No, I Insist, You're the Best!!!


Is this for the  turbines being sold to Delta as opposed to the new
replacement equipment?

Thanks,

Kay

Dale Rasmussen@ECT
03/27/2001 01:19 PM
To: lee.johnson@ss.ps.ge.com, Bill Williams/PDX/ECT@ECT, Kay
Mann/Corp/Enron@Enron, scofer@llgm.com, tconstan@llgm.com
cc: Jody Blackburn/PDX/ECT@ECT, Ed Clark/PDX/ECT@ECT

Subject: GE LM-6000 purchase contract for Las Vegas Cogeneration II project

Bill Williams has confirmed that the attached version of the LVC-2 contract
is the final form.  I have added a footer stamp identifying it as "Rev 5 -
3/27/01".  Everything else is identical to the draft circulated March 12.

The second attachment is to be inserted as Exhibit H-2 in the contract.

Thanks.


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Lee,

If this will be a dual fuel unit, it seems we should at least have a place
holder guarantee, even if the details aren't included.  Any problem with that
approach?

Kay

lee.johnson@ss.ps.ge.com on 12/18/2000 07:02:45 AM
To: peterthompson@akllp.com, kay.mann@enron.com
cc: lee.johnson@ss.ps.ge.com, kent.shoemaker@ae.ge.com,
paulpipitone@akllp.com, chriscobb@akllp.com

Subject: RE: E-Next Generation CISO1

Kay/Peter-

We don't need a liquid fuel guarantee at this time, since we don't know
where the dual fuel units are going.  When that is determined, we will
provide the LF guarantee at the time the site conditions are known.  Let's
press on.

Thanks,

Lee

-----Original Message-----
From: Thompson, Peter J. [mailto:peterthompson@akllp.com]
Sent: Friday, December 15, 2000 4:25 PM
To: Kay Mann (E-mail)
Cc: Lee. Johnson (E-mail); Kent. Shoemaker (E-mail); Pipitone, Paul;
Cobb, Chris
Subject: E-Next Generation CISO1

       Attached please find a clean copy of the latest draft of the
E-Next Generation CISO1 Agreement and Exhibits, as well as blacklines
showing changes made to each from the prior draft we circulated.  This
is identical to the documents for the CISO2 documents but for the unit
number and agreement reference.  To complete the agreement, we need Ben
Jacoby's fax number and a liquid fuel performance guarantee. As for the
exhibits, we need the information for Part B of Exhibit A-1.  We will
also need to add Exhibit H-2, Exhibit R (if necessary) and confirmation
that we will not have any site specific information usually contained in
Exhibit U.
 <<Exhibits to E-Next Agreement CIS01 -Comparison of Versions 1 to
2.DOC>>  <<E-Next Generation CIS01 Breakout Agreement-Comparison of
Versions 2 to 3.DOC>>  <<Exhibits to E-Next Generation Energy Break-Out
Agreement CISO1 12/15/00.DOC>>  <<break out agreement for CIS01
(12/14/00).DOC>>


Would you send me a copy of the guaranty?

 -----Original Message-----
From: 	Williams, Jason R (Credit)
Sent:	Thursday, November 01, 2001 10:08 AM
To:	Perlingiere, Debra
Cc:	Tycholiz, Barry; Miller, Stephanie
Subject:	FW: MGI Supply, Ltd.

Debra -

Attached is worksheet for MGI Supply, Ltd.  Please call me with any questions.

JRW

 << File: MGI Supply Ltd Master Physical 11012001.xls >>

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Thursday, November 01, 2001 8:51 AM
To:	Williams, Jason R (Credit)
Cc:	Miller, Stephanie
Subject:	FW: MGI Supply, Ltd.

Jay, what is status on credit worksheet for MGI.  Pls advise.
BT

 -----Original Message-----
From: 	Perlingiere, Debra
Sent:	Thursday, October 25, 2001 3:05 PM
To:	Espinoza, Veronica; Williams, Jason (Trading)
Cc:	Tycholiz, Barry
Subject:	MGI Supply, Ltd.

Barry Tycholiz has requested a Master Agreement for MGI Supply, Ltd, therefore please prepare and forward to my attention as soon as possible a credit worksheet for same.

Thanks!

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


Many of the oil products are monthly or total volume but most of them seem to
be adjusted accordingly.

M

To: David Forster/LON/ECT@ECT
cc: Elena Kapralova/LON/ECT@ECT, Bob Shults/HOU/ECT@ECT, Marcello
Romano/LON/ECT@ECT, Mark Dilworth/LON/ECT@ECT
Subject: Re: Paper Volumes

Looks good to me.  Are we certain that all of the other traders plan to post
daily volumes?

David Forster
10/08/99 09:51 AM
To: Elena Kapralova/LON/ECT@ECT, Mark E Taylor/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Marcello Romano/LON/ECT@ECT, Mark
Dilworth/LON/ECT@ECT
Subject: Re: Paper Volumes

That looks fine to me. Please ensure the Volume tab is consistent with this
description as well.

Mark: Please comment if you have any concerns.

Thanks,

Dave

Elena Kapralova
08/10/99 12:18
To: David Forster/LON/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Marcello Romano/LON/ECT@ECT, Mark
Dilworth/LON/ECT@ECT
Subject: Re: Paper Volumes

the current paper descriptions says:

"....Seller pays a Floating Price and the Buyer pays the price submitted by
Counterparty on the website (the Fixed Price) in each case in respect of the
Notional Quantity per Determination Period.  Each calendar month during the
term of the Transaction will be a Determination Period. The Notional Quantity
per Determination Period is the volume submitted multiplied by the number
days in the relevant Determination Period."

suggestion:

"....Seller pays a Floating Price and the Buyer pays the price submitted by
Counterparty on the website (the Fixed Price) in each case in respect of the
Notional Quantity per Determination Period.  Each calendar month during the
term of the Transaction will be a Determination Period. The Notional Quantity
per Determination Period is the volume submitted by Counterparty on the
website."

If you all agree, I'll make this change in the BlackMaster. Dave, it may need
lawyers validation?

Elena

David Forster
08/10/99 00:35
To: Elena Kapralova/LON/ECT@ECT
cc:
Subject: Paper Volumes

---------------------- Forwarded by David Forster/LON/ECT on 08/10/99 00:35
---------------------------

Marcello Romano
07/10/99 21:50
To: David Forster/LON/ECT@ECT, Bob Shults/HOU/ECT@ECT
cc:
Subject: Paper Volumes

Paper volumes are actually per month not per day in each determination
period. We need to change the long descriptions.

M


PLEASE NOTE SPECIAL HOURS

Notice No. 01-385
November 21, 2001

TO:
All NYMEX Members/Member Firms
All NYMEX Clearing Members
All NYMEX Floor Traders
All NYMEX Operations Managers

FROM:
George Henderson, Vice President

RE:
Options Expiration Operational Procedures for the Trading Floor and Clearing
Members - Revised Hours

The expiration date for the December 2001 options contract for Unleaded
Gasoline (GOZ1), Heating Oil (OHZ1) and Natural Gas (ONZ1) is Tuesday,
November 27, 2001.

GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 4:40 p.m.
until released by the Exchange staff as specified below.  All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making
the expiration processing an extension of the afternoon trade resolution
procedures.  All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.

Exchange Clearing (299-2110), Floor Trade Processing (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option
Expiration Reports will be provided. The following screens will assist you
through the Option Expiration process:

MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business
days by adjustment date.

SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.

REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers TO your firm and the status of
each transfer.

REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer FROM your firm and the status of
each transfer.

EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.

DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.

POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system.  This input may be made at any time prior to 6:45 p.m.  Any PCS
input via transmission for that contract series will be disregarded.

ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.

EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.

All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.

FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.

E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.

The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:

STANDARD EVENT			APPROXIMATE TIME		  USUAL	FAST
FACTS(F)
  MESSAGES				   OF MESSAGE		EVENT TIME
E-MAIL    (E)
					  AVAILABILITY
BOTH      (B)

Announce Out-of-the    			 4:45PM		 4:45PM		F
Money Exercise and In-the-Money
Do Not Exercise Submissions

Announce Final Input to C21		 6:30PM		 6:45PM		E
Cutoff Time

All positions are deemed final	 7:00PM		 7:00PM		F

Announce Exercise/Assignment		 7:30PM		 7:30PM		B
Information Available on the Single
Position Maintenance Windows

All Report Distribution is		10:00PM		10:00PM		F
completed

The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.

If you have any questions concerning these procedures, please contact
Anthony Di Benedetto at 299-2152 or John Ramos at 299-2142 prior to the
expiration date.

 <<EXPFORMSPEC.XLS>>

 - EXPFORMSPEC.XLS


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 09/20/2000
08:25 AM ---------------------------
To: Matthew Lenhart/HOU/ECT@ECT, Timothy Blanchard/HOU/EES@EES, Jeffrey C
Gossett/HOU/ECT@ECT, Kenneth Shulklapper/HOU/ECT@ECT, Nick
Hiemstra/HOU/ECT@ECT, Luis Mena/NA/Enron@Enron, Amir Ahanchian/Enron
Communications@Enron Communications, Brian Hoskins/Enron Communications@Enron
Communications
cc:

Subject: GAME TONIGHT @ 7:00

We have a game tonight at 7:00.  Please try to make it to the field by 6:30.

-Eric


This is great. Thanks for your help.

Monika Causholli
Enron Industrial markets
(713)345-1510

-----Original Message-----
From: Dequan He [mailto:he@resourceinfo.com]
Sent: Friday, September 28, 2001 11:43 AM
To: Causholli, Monika
Subject: NBSK prices

Hi Monika,
    Please see the attached file for Northern Bleached Softwood
Kraft Pulp delivered to Japan.  Let me know if you have any
questions.
    Best regards,
    Dequan

Dequan He
Economist, Asian Service
Resource Information Systems, Inc.
4 Alfred Circle
Bedford  MA 01730
Tel: (781)271-0030 ext. 34
Fax: (781)271-0337
Email: he@resourceinfo.com


Good afternoon Sara,

Please accept my apologies for not responding earlier.  With regard to the pre
printed terms of the  PSA/ISMA Global Master Repurchase Agreement (GMRA)
please
find enclosed one copy, herein, for your information
(See attached file: PREPRINTED TERMS OF THE GMRA DATED AS MAY 2000.doc)

In addition, you did mention about the existing repo doc with  Enron North
America.  Please note that the negotiations of the BMA (former PSA) are
handled
by our New York head office, so I shall check with my colleague and revert.
Could you please advise what you require me to do: are you checking to find
out
if we have a BMA in place ?  or do you need an executed copy of the BMA?

Please advise.
With best regards,
Monica

 - PREPRINTED TERMS OF THE GMRA DATED AS MAY 2000.doc


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Thanks, Dylan.  In the event I can't make to either class, I'm available Wed
and Thur evening to discuss the next case.  And as I mentioned, I'd be happy
to write that one up.

Best,
Jeff


Jenette: please put this tentatively on my schedule.  Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 08/16/2000 04:13 PM -----

	Angie Collins
	08/14/2000 06:17 PM

		 To: Mark Frevert/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Jeffrey A Shankman/HOU/ECT@ECT, Daniel
Reck/HOU/ECT@ECT, Tom Mcquade/HOU/ECT@ECT, Allen B Childress/HOU/ECT@ECT,
Matthew Goering/HOU/ECT@ECT, Brian O'Rourke/HOU/ECT@ECT, Matthew
Arnold/HOU/ECT@ECT, George McClellan/HOU/ECT@ECT, Jonathon
Pielop/HOU/ECT@ECT, Charlie Jewell/HOU/ECT@ECT, Evan Betzer/HOU/ECT@ECT, Mark
Anthony Rodriguez/HOU/ECT@ECT, John Massey/HOU/ECT@ECT, Jill
Siekmeier/Corp/Enron@Enron, Kevin McGowan/Corp/Enron@ENRON, Janel
Guerrero/Corp/Enron@Enron, Scott Affelt/HOU/ECT@ECT, Vince
Middleton/HOU/ECT@ECT, David Loosley/NA/Enron@Enron, Vincent
Wagner/NA/Enron@Enron, Scott Baukney/NA/Enron@Enron, Kristin
Quinn/NA/Enron@Enron, Cheryl Erickson/NA/Enron@Enron, Adam
Siegel/NA/Enron@Enron, Michael J Beyer/HOU/ECT@ECT, Tim
Wojtowicz/PITT/ECT@ECT, William Giuliani/PITT/ECT@ECT, Paul
Omasits/Corp/Enron@ENRON
		 cc: Louise Kitchen/HOU/ECT@ECT, Beth Cowan/NA/Enron@Enron, Mark E
Haedicke/HOU/ECT@ECT, Wayne Gresham/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT,
Mark Confer/HOU/ECT@ECT, Mason Hamlin/HOU/ECT@ECT, Brandi
Wachtendorf/HOU/ECT@ECT, Tammie Davis/NA/Enron@Enron, Kathleen
Salerno/HOU/ECT@ECT, Linda K Loukanis/HOU/ECT@ECT, Michelle
Schultz/NA/Enron@ENRON, Frank Prejean/HOU/ECT@ECT
		 Subject: Coal & Emissions Group party

Please mark your calendars, bring a guest, and join the Enron Global Markets
- Coal & Emissions Group for an evening at the McClellans in beautiful
downtown Sugarland at 7:00 pm, Saturday, September 16.  More details to
follow.

Looking forward to seeing you there,

George and Darcy


Bob is out with the flu and may be out through tomorrow.  I will coordinate with him on org charts.  Where do you want to have Gas Logistics - under Bob in operations or under trading?  Given your answer, we just need to be consistent with commercial on this for the org charts.

Also, I talked with Bob Hall today and would expect to hear definitively from him tomorrow regarding his commitment to Netco.  I had an interesting conversation with Barry Pearce this morning, and sounds as if you already have an alternative plan under way.  --Sally

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Wednesday, January 02, 2002 6:44 PM
To:	Kitchen, Louise; Colwell, Wes; Hodges, Georgeanne; Milnthorp, Rob; Zufferli, John; Hedstrom, Peggy; Myers, Thomas; Bradford, William S.; Will, Lloyd; Beck, Sally; Hall, Bob M; Presto, Kevin M.; Forster, David; Reeves, Leslie; Gaskill, Chris; Superty, Robert; Lagrasta, Fred; Luce, Laura; Tycholiz, Barry; Redmond, Brian; Vickers, Frank; Gossett, Jeffrey C.; Arnold, John; Grigsby, Mike; Allen, Phillip K.; Neal, Scott; Martin, Thomas A.; Shively, Hunter S.; Rub, Jenny; Webb, Jay; Haedicke, Mark E.; Buy, Rick; Calger, Christopher F.; Duran, W. David; Robinson, Mitch; Curry, Mike; Heizenrader, Tim; Belden, Tim; Steffes, James D.; Aucoin, Berney C. ; Roberts, Mike A.; Oxley, David
Cc:	Lavorato, John; Schoppe, Tammie
Subject:	RE: NETCO

Organisational Charts have been requested by one of the potential Buyers.  Please send to Tammie by close of play tomorrow.

Thanks

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Monday, December 31, 2001 12:54 PM
To:	Colwell, Wes; Hodges, Georgeanne; Milnthorp, Rob; Zufferli, John; Hedstrom, Peggy; Myers, Thomas; Bradford, William S.; Will, Lloyd; Beck, Sally; Hall, Bob M; Presto, Kevin M.; Forster, David; Reeves, Leslie; Gaskill, Chris; Superty, Robert; Lagrasta, Fred; Luce, Laura; Tycholiz, Barry; Redmond, Brian; Vickers, Frank; Gossett, Jeffrey C.; Arnold, John; Grigsby, Mike; Allen, Phillip K.; Neal, Scott; Martin, Thomas A.; Shively, Hunter S.; Wynne, Rita; Rub, Jenny; Webb, Jay; Haedicke, Mark E.; Buy, Rick; Calger, Christopher F.; Duran, W. David; Robinson, Mitch; Curry, Mike; Heizenrader, Tim; Belden, Tim; White, Stacey W.; Steffes, James D.; Aucoin, Berney C. ; Roberts, Mike A.; Oxley, David
Cc:	Lavorato, John
Subject:	NETCO

The New Year has arrived and we really to finalize a lot of the work with regards to moving into NETCO.  Obviously we still do not have a deal but the deadline is approaching and preparations need to be finalized.

The main areas to focus on over the next week are:-

(i) 	Re-start/Integration Plans (due on Jan 7)				To be forwarded to Louise
	These plans need to be detailed and show clear detailed timelines and detailed responsibilities for getting us up and running as soon as possible.
	The current restart date is January 21, 2001 but may be pushed forward to January 14, 2002.
(ii)	Budget (due Jan 3, 2002)						To be forwarded to Faith Killen
	First year budget to include all start up costs (some of which can be amortized)
(iii)	Seating Plans								Tammy Shepperd to co-ordinate
	We need to start the planning process for seating as we will be living on floors 5 & 6 of the Enron South building.
	I have asked Tammy Shepperd to commence the seating plan and we would look to start the moves as soon as possible but with a large number occuring around January 11,2002.
(iv)	Due Diligence
	We continue the process with two new companies this week (Wednesday and Thursday). Andy Zipper is taking the lead for the company arriving on Wednesday, please help him with his requirements.

I would ask that both John and I are notified of any changes to the Netco personnel list on a timely fashion and that the list is maintained on a continual basis.  Please forward all alterations to Jeanie Slone who has responsibility for the master list.

Communication - I believe that the New Year combined with a internal communication issues may be a good time to review what we want to say on Netco and what our policies are.  I am asking David Oxley to co-ordinate with all of you on this.  I know a lot of you believe that we need to only communicate once we have retention programme in place for the estate which may be a good idea but we we need to make sure that we lose as few people as possible.

If you are unavailable this week, please ensure you delegate this work out.

Happy New Year

Louise


To close the loop on this, I think Lori should review Bob's findings and
comment on same once she returns from vacation.  SWD

	"Baird, Bob" <RBaird@velaw.com>
	06/30/00 04:10 PM

		 To: "'Horton, Stan'" <stanley_horton@eott.com>
		 cc: Steve Duffy/Houston/Eott@Eott, "Pena, Carlos" <cpena@velaw.com>
		 Subject: Available Cash for the Fourth Quarter

CONFIDENTIAL/ATTORNEY-CLIENT PRIVILEGE

Stan:

 I have given considerable thought to the issue you raised in the
meeting on June 15 -- that is, whether the amount of Available Cash for the
fourth quarter of 1999 could be recomputed so that the issuance of APIs for
that quarter could be rescinded.  My delay in getting back to you was
occasioned by the fact that I went on vacation shortly after that meeting
and just returned to work yesterday.

 The reason the question is worth exploring is this --- Enron Corp.
has certain rights under its support agreement with EOTT, and it is entitled
to exercise those rights notwithstanding the fact that it also has a
fiduciary duty as a controlling shareholder.  I approached the question
solely as counsel for Enron and from the standpoint of evaluating the merits
of any claim that Enron could make that the API issuance should be
rescinded.  From that standpoint it is no different from asking: if EOTT
were dealing with an unrelated third party would that third party have a
claim for rescission?  Unfortunately, based on the facts as I understand
them, I have been unable to formulate a claim that has sufficient merit to
be worthy of assertion, as explained below.

 The computation of Available Cash for any quarter is based on (a)
cash receipts and disbursements and (b) increases or reductions in cash
reserves, which the General Partner "determines in its reasonable discretion
to be necessary or appropriate."  Thus, the question is whether there is a
basis for recomputing the cash receipts or the reserves for the fourth
quarter.

 Cash Receipts.  I would think there may well be a valid claim in a
situation in which EOTT made a mistake in its calculations of cash receipts
or disbursements, even if that mistake was discovered several months later.
It is my understanding, however, that the scrub-down of the books for the
fourth quarter turned up only immaterial discrepancies from the amounts that
had been calculated for the fourth quarter in mid-February, when the
distribution of Available Cash for the quarter was made.  Thus, I am aware
of no meritorious argument that Enron is entitled to rescission because of
EOTT's mistakes in calculating its cash receipts or disbursements for the
quarter.   That being the case, the only other issue that is worth focusing
on is the reserves.

  Reserves.  The only component of the reserves that I am aware of
that is large enough to bear scrutiny is the theft-related insurance item.
There were no cash receipts from the insurance prior to the distribution, so
any claim for rescission must focus on the amount of reserves for the fourth
quarter.  If the level of reserves was determined in a manner that was not
consistent with the "reasonable discretion" standard set forth in the
partnership agreement, Enron would have a valid claim for rescission.
Presumably had the General Partner known in mid-February that insurance
would cover the $3 million loss (other than the $500,000 deductible), it
would have reduced reserves by $2.5 million (either by setting aside less in
reserves or releasing reserves established in prior quarters), which would
have produced $2.5 million of additional Available Cash.  In that case there
would not have been any APIs required.  Is there a basis for a claim that
the General Partner did not use "reasonable discretion" when it established
the level of reserves?  Based on the facts as I understand them, I have been
unable to come up with a good argument that the General Partner was not
using its "reasonable discretion" in making the determination it made.   It
is my understanding that, although at the time the General Partner was aware
that it had theft insurance, it did not know whether the insurance would
cover the entire $3 million loss or merely the $800,000 in fair market value
of the product at the time of the theft (less the $500,000 deductible).  I
also understand that the insurance carrier had not admitted liability at
that time, so there was some question whether there would be any insurance
proceeds.  Thus, it seems it would be very difficult to establish that the
General Partner did not use its reasonable discretion.

 The partnership agreement makes it clear that the amount of
Available Cash is to be computed based on (a) actual receipts and
disbursements during the quarter and (b) distributions from the operating
partnerships and reserves established, or changes in reserves, that in each
case occur prior to the "date on which the Partnership makes its
distribution of Available Cash in respect of such quarter."  Thus, the
partnership agreement leaves no room for going back and redoing reserves
based on events that occur after the distribution for the quarter.

 Please call if you have any questions about this analysis or if you
think I do not have my facts straight or need additional facts.  You can
reach me at 713/758-2414.

Robert S. Baird
Vinson & Elkins L.L.P.
One American Center
600 Congress Avenue
Austin, Texas 78701-3200
Office phone: 512/495-8451
Fax: 512/236-3210
Home phone: 512/347-8065
Car phone: 512/627-8065
Pager: 1-888-487-2651
Voice mail: 512/495-8696, x8451
Internet: rbaird@velaw.com


Dear Susan,

I am not really sure what the answer is to your question and I am not really
sure whether these decisions are ultimately made by legal or credit although
I suspect the latter.

John or Carol, do you have any thoughts?

Jane McBride
Senior Legal Counsel
Enron Japan Corp.

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

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

	Susan Musch@ENRON_DEVELOPMENT
	2001/02/24 07:21

		 To: Jane.McBride@enron.com
		 cc: Edwin.T.Whatley@BAKERNET.com, Paul.TYO.Davis@BakerNet.com,
Yukinori.Watanabe@BAKERNET.com, Jeremy.Pitts@BAKERNET.com, Jeff
Blumenthal/Enron@EnronXGate
		 Subject: Re: Enron: ISDA Schedules

Jane,

I am guessing that in practice, Enron Japan would not accept the tender for
collateral in the US for transactions it enters into in Japan.  However,
would you please confirm this?

Best regards,
Susan

Edwin.T.Whatley@BAKERNET.com on 02/23/2001 03:13:15 AM
To: smusch@enron.com, Jane.McBride@enron.com
cc: Paul.TYO.Davis@BakerNet.com, Yukinori.Watanabe@BAKERNET.com,
Jeremy.Pitts@BAKERNET.com

Subject: Enron:  ISDA Schedules

Dear Susan and Jane:

Please see attached, best regards, Ed

Edwin.T.Whatley@bakernet.com
Phone: 81-3-3796-5857 Fax:81-3-3479-4224
Registered in Japan as an Attorney at Foreign Law;  Jurisdiction of  Primary
Qualification--California; Designated Law--Washington, D.C. and All U.S.
States
Except Louisiana
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.

 - Enron-sm10.doc
Message-ID: <OFCF340DD0.8125722C-ON862569F9.008254E8@enron.com>
From: Susan.Musch@enron.com
To: Edwin.T.Whatley@bakernet.com
Cc: Paul.Davis@bakernet.com, Jeff.Blumenthal@enron.com,
Jane.McBride@enron.com
Subject: ISDA Schedules
Date: Wed, 21 Feb 2001 08:43:34 +0800
Return-Receipt-To: Susan.Musch@enron.com
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
Content-Type: multipart/mixed;
boundary="----_=_NextPart_002_01C09D78.DAD2FA70"

Ed,

I am attaching the memo that you wrote last May on the Japanese tax
consequences of financially settled derivative transactions and physically
settled transactions.  I have also attached copies of current ISDA and
Credit Support Annex ("CSA") Schedules.  I need you to review the ISDA and
CSA Schedules and revisit and comment on your attached advice as necessary.

Also, I need you to give more specific advice with respect to collateral.
We generally take and give as collateral either cash or letters of credit.
We should assume that cash may be pledged in Dollars or Yen and that it may
be held in the US or Japan.

As always, I appreciate your help with this matter.  Would you please let
me know if you can provide comments by your close of business on Thursday?

Best regards,
Susan

(See attached file: ISDA Schedule - Japan.doc)(See attached file: CSA -
Japan.doc)

---------------------- Forwarded by Susan Musch/ENRON_DEVELOPMENT on
02/20/2001 05:54 PM ---------------------------

Edwin.T.Whatley@BAKERNET.com on 05/11/2000 04:38:03 AM

To:   smusch@enron.com
cc:   Paul.TYO.Davis@BakerNet.com, Yukinori.Watanabe@BAKERNET.com,
      Jeremy.Pitts@BAKERNET.com, Shimon.Takagi@BAKERNET.com,
      Kohji.Mori@BAKERNET.com, Shinichi.Kobayashi@BAKERNET.com

Subject:  Enron Online

Dear Susan:

Please see attached.  Best regards, Ed

Edwin.T.Whatley@bakernet.com
Phone: 81-3-3796-5857 Fax:81-3-3479-4224
Registered in Japan as an Attorney at Foreign Law;  Jurisdiction of
Primary
Qualification--California; Designated Law--Washington, D.C. and All U.S.
States
Except Louisiana
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.

(See attached file: Enron-sm09a.doc)

 - ISDA Schedule - Japan.doc
 - CSA - Japan.doc
 - Enron-sm09a.doc


----- Forwarded by Tana Jones/HOU/ECT on 10/09/2000 08:53 AM -----

	Bradley Diebner
	10/05/2000 05:21 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT,
Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie R
Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT,
Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON, Mary G
Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities, Enron
Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT, Bradley
Diebner/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT,
Adnan Patel/Corp/Enron@ENRON, Claudia Clark/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT
		 cc:
		 Subject: EOL Credit Responses 10/05/00

The EOL approvals for 10/05/00 are attached below.

Regards,
bd


(See attached file: hpl0824.xls)

 - hpl0824.xls


CORRECTION TO SUPER SATURDAY DATES

Two dates in our prior Save the Dates memo were incorrect.  The dates to save
for the first Super Saturday weekend are Friday, October 27th and Saturday,
October 28th.  The correct dates for the last Super Saturday weekend are
Friday, December 8th and Saturday, December 9th.

We apologize for any inconvenience.


thank you!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, February 04, 2002 10:09 AM
To:	Rybarski, Amanda
Subject:	RE:

it looks great

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Monday, February 04, 2002 10:09 AM
To:	Maggi, Mike
Subject:	RE:

I got a new haircut!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, February 04, 2002 10:09 AM
To:	Rybarski, Amanda
Subject:	RE:

absolutely

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Monday, February 04, 2002 10:08 AM
To:	Maggi, Mike
Subject:	RE:

you like?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, February 04, 2002 10:08 AM
To:	Rybarski, Amanda
Subject:

incredible


Updated questions and answers for Enron employees have just been posted to http://home.enron.com/updates/qa.html
We recognize that as active employees you have special concerns and questions related to Enron's bankruptcy filing.  We regret that we are not able to answer all of your questions as quickly as you deserve, but we are working to provide accurate responses to your most important questions about employee benefits, expense payments and so on.  We appreciate your patience as we continue to try to provide timely and reliable information to you.


Done.  Thanks.  Sara

	Mary Cook
	08/10/2000 03:30 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Jason's ISDAs

Jason had a few ISDAs for Cayman Islands (the Tudor group of docs) which he
advised were final.  Samantha prepared final docs.  I looked them over just
generally and signed off.  I am however asking Samantha to just check with
you regarding the docs before we send to credit since they are Cayman/FX and
I think you worked with Jason on them.  Thanks.  Mary


My W-2 in Dec was $63,250.  Also, I am in my organizer as we speak.... I may have missed some of the options information and am rechecking.

BT


Dee:

We are working on the blackline.  Since the "deal" that you mentioned
yesterday has no bearing on the master between ENA and FUNB, there is no
emergency at hand.  A few things to note:

(1)  regarding "Procedures for entering into Transactions,"  my suggestion is
that you consider a reasonable time period in which to respond upon receipt
of a confirmation.  It is in both parties best interest to have an executed
(and therefore enforceable) writing  This can be accomplished by under the NY
General Obligations law by our agreement as to a "deemed response" if a party
will not sign a trade confirmation.

(2)  regarding the concept of "Specified Transaction", ENA has reconsidered
the earlier concession to exclude most Termination Events as Specified
Conditions.  It is not ENA's position to unwind Transactions upon the
occurrence of these events, and, therefore, each party ought to be able to
rely upon the protections afforded it under the related provisions.
Regarding the Credit Event Upon Merger, FUNB is protected with the amendment
which we make to Section 5(b)(iv).

I hope that the blackline will resolve our outstanding issues.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


Re-sending this message due to several communication failures of first two
sends.  My apology for the redundancy if you have previously received the
following.

> Xcel Energy is proud to host the WSPP Spring 2002 Conference.  We would
> like to take this opportunity to thank the Calpine Corporation, and
> especially Jodi Lietz, for hosting the WSPP 2001 Fall Conference at Coeur
> d'Alene, Idaho.  The conference was well attended, well managed, the
> events were fun, and the setting was beautiful.  Good work Calpine!
> Please mark your calendars now for the WSPP Spring 2002 Operating
> Committee Conference at fabulous Vail, Colorado.  Preliminary details and
> registration are in the attachment.  Please note that the Spring
> Conference has a different date format than in the past.  The Reception
> will be held on Monday, April 1, 2002.  A variety of events are planned on
> Tuesday, April 2, 2002, including skiing and snowmobiling.  The meeting
> will be on Wednesday, April 3, 2002.
> If your company is interested in sponsoring one of the events during the
> conference, there are still some sponsorship opportunities available.
>
>  <<Web Site Announcement.doc>>
>
> Janet Rollins
> Xcel Energy, Energy Markets
> (303) 308-6011
> (303) 312-2693, Fax
> 1099 18th St., Suite 3000
> Denver, CO 80202
>
>


With SAP now here there are going to be a few minor changes that we will all
have to make immediately.
First:
Everyone will have to make Internet Explorer their Default Browser.  If
you're not sure how to do this give me a call and I will help.  The reason
for this is that our new TimeSheet Program will only run through Internet
Explorer.

Second:
Sometime next week we will have a brown bag lunch where I will walk you
through entering your time in this New System.  It's not time consuming just
different.

Third:
Next  Thursday you will be e-mailed an SAP log-on ID and Password.  Please
don't delete or disregard the importance of this e-mail.  You will need it to
key your time.

Fourth:
All company and RC #'s are changing.  The company part is easy. It will be 4
digits so if your company number is currently 413 it will now be 0413 or if
it is 012 it will now be 0012. Easy.  RC #'s are now called Cost Centers and
they are changing completely.  Please write these down somewhere you will
need them just like you need to know your RC.

RC 1497 = CC 105633
RC 1638 = CC 105634
RC 2664 = CC 105630
RC 2933 = CC 106292
RC 0688 = CC 105631
RC 1160  = CC 105632
RC 2675 =  CC 105638
RC 2939 = CC 106269
RC 2940 = CC 106290
RC 2663 = CC 105629

The transition shouldn't be too painful for you but it promises to be a
little stressful for your assistants so please bear with us and cooperate.

Thank You!
Yvette
x3.5953


Fran - It looks like you either made changes or added legs to this deal
today. Do they need to reconfirm this? Please let me know.

Thanks,
Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 03/08/2001 03:14 PM
---------------------------

	From:  Sharen Cason                           03/08/2001 03:13 PM

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

Subject: 412868

Can you find out if we are supposed to confirm the legs of this City of
Roseville deal that were input today.  And what it is exactly that they are
doing with these legs.

Thanks!


We have requested changes at NorthWestern's request.  Please advise if there
are any problems.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/23/2001 03:27
PM ---------------------------

	From:  Chris Booth                           04/23/2001 03:05 PM

To: jeffrey.darst@ps.ge.com
cc: Ben Jacoby/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron

Subject: Change Order 2

Jeff,

Please review the attached change order regarding storage for Unit 1.  I will
call to discuss.

Chris


Start Date: 4/24/01; HourAhead hour: 2;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042402.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 2 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: EES
  MKT_TYPE: 2
  TRANS_DATE: 4/24/01
  UNIT_ID: BADLND_7_PL1X2


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IssueAlert for  March 26, 2001

E.ON May Be Closing in on Purchase of Powergen

by Will McNamara
Director, Electric Industry Analysis

[News item from Reuters] German utility E.ON AG is near a deal to take a
stake in Britain's fourth largest power utility Powergen (NYSE: PWG) at a
price 30 percent above current levels. According to the German paper
Handelsblatt, E.ON's supervisory board reportedly will make a final decision
in the next week. Powergen, meanwhile, said it is still in talks on a
possible offer from another company. "There can be no assurance that these
discussions will result in an offer being made for the company," Powergen
said in a statement. The company first announced that it was in talks to be
purchased on Jan. 16.

Analysis: The word that E.ON, Europe's second largest power company, would
buy a stake in Powergen at a fat 30-percent premium of around 6.90 pounds
increased Powergen's British stock price by as much as 7 percent to reach 739
pence. A combination of the two companies would create a power firm on par
with Europe's largest power companies, France's EDF and Italy's Enel. Since
talks about a potential acquisition by E.ON surfaced in January, Powergen's
stock price has climbed 21 percent. In addition, according to Reuters,
Powergen jumped to the top of the gainers list for the United Kingdom's FTSE
100 blue chip index. On March 22, Powergen stock reached 739 pence, while the
FTSE 1000 index was down 2.5 percent at 27-month lows. Powergen also trades
in the United States on the New York Stock Exchange, where Powergen shares
opened March 26 at $42.00.

If the rumors about Powergen's price tag are true, E.ON would end up paying
more than nine pounds a share or six billion pounds (U.S. $8.5 billion) for
the U.K.-based Powergen, which carries a debt of about 5.2 billion pounds.
These projections exceed previous reports from financial analysts who
suggested that E.ON would pay no more than eight pounds a share for Powergen.
E.ON might be feeling increased pressure to finalize a deal with Powergen
since other players such as Scottish Power have also expressed interest in
the company. With significant capital to spend (Reuters reported up to $50
billion including proposed divestitures), E.ON reportedly believes that
Britain, where demand is outpacing the rest of Europe, is the best country in
which to begin a rapid expansion strategy. Despite the fact that Powergen had
previously acknowledged that it was working on a deal with E.ON, over the
last week it has maintained that discussions continue with other companies.

E.ON, formed as a result of last year's merger between Veba and Viag,
supplies Germany and Europe with electricity, heating, natural gas, water and
petroleum. Germany, which opened 100 percent of its energy market all at once
in April 1998, has undergone a period of rapid consolidation. As a result,
the largest power companies in the country have begun seeking competitive
opportunities across the Continent (this is a growing trend in Europe as
companies from other countries are following the same competitive strategy).
E.ON must expand outside of its home country, where analysts have speculated
that core profits in its generation business have become unstable. In many
ways, consolidation is a means of survival for E.ON, as Europe continues to
liberalize and electricity prices fall as a result.

Powergen*which generates about 14 percent of the electricity used in England
and Wales and has electric and gas operations throughout Europe, India, Asia
and Australia*is a company that became known for its global expansion
efforts, especially in the United States. Just last December, Powergen
completed a $3.2 billion acquisition of Louisville, Ky.-based LGOEnergy Corp.
Powergen had wanted for some time to penetrate the U.S. market, as a result
of consolidation that had taken place in the United Kingdom. The acquisition
of LGObecame appealing to Powergen because of the U.K. company's desire to
establish a strong presence in the Midwest market. Altogether, LG&E's two
utilities and numerous unregulated businesses total about $5 billion in
assets, which was thought to support any further expansion that Powergen
might have had in mind.

Powergen has a market capitalization of $6.66 billion and P/E ratio of 11.02
(according to Yahoo Finance). However, the company has struggled over the
last year. Powergen's primary subsidiary, LGOEnergy, saw its profit for 2000
decline by 4 percent to $497 million from $518 million. As the parent
company, Powergen saw its profits decline by 12 percent in 2000, to $518
million from $590 million, although its revenue increased 11 percent to $6
billion, up from $5.4 billion in 1999. Keep in mind that Powergen's
acquisition of LGOwas not completed until December 2000, so LG&E's earnings
will be reflected fully in its parent's financial report starting this year.

If E.ON were to acquire Powergen, it would gain several strategic advantages.
E.ON would no longer be reliant solely on the German market, where falling
prices and continued consolidation limit competitive opportunities. In
addition, the purchase would give E.ON a hold on generating assets in the
United Kingdom, and the comparatively low-cost power production, 3.7 million
customers and various business operations that LGOoffers in the United
States.

As noted, Powergen has acknowledged that it has received approaches from E.ON
and other companies. Based on available reports, those "other companies" are
most likely RWE (Germany's largest power supplier and a rival of E.ON),
Vivendi and Suez Lyonnaise (French mega-utilities) and an unnamed American
power company (Enron or Southern Energy would be my best guess). However,
word from its management team is that Powergen is not interested in getting
tied up (as a purchased entity) in merger or acquisition proceedings at this
time as it may be planning additional purchases of its own in the United
States.

On the other hand, the rationale for Powergen to be sold to a company like
E.ON is taking shape. British restructuring law has forced large generators
to sell power stations to reduce any likelihood of market power. As a result,
Powergen has morphed from a pure U.K. generating company to a broad-based
company engaged in telecommunications, gas, and distribution services. Ed
Wallis, Powergen's CEO, has stated that presently it has become very
difficult for Powergen to compete with larger rivals in an enlarged European
market. As noted, Powergen's strategy over the last year has been one of
further expansion in the United States, and the purchase of LGOwas perhaps
more expensive than Powergen had planned. In order to make further U.S.
acquisitions, Powergen needs adequate capital or equity in order to finance
the acquisition, something that has become more difficult since its purchase
of LG&E.

Nevertheless, if the deal takes place it will require regulatory approval in
the United States from FERC, the SEC and the Kentucky Public Service
Commission (among other possible agencies). The climate for U.S. energy
industry mergers and acquisitions has become rather turbulent in recent
weeks. Three high-profile mergers (Entergy / FPL Group, Con Edison /
Northeast Utilities and Sierra Pacific Resources / Portland General) have all
encountered difficulties that could derail their pending deals. In addition,
according to a recent report in the Wall Street Journal, announced worldwide
mergers and acquisitions this year totaled $390.4 billion (as of March 21),
which is about one-third of the volume during the same period last year.
Also, about 164 merger deals have been withdrawn from the market, compared
with 153 deals that were withdrawn for the same period last year, according
to the WSJ report.

Analysts that have been closely watching the potential for an E.ON / Powergen
deal say that Powergen's U.S. operations in LGOcould prove to be a major
stumbling block for the two companies, and that E.ON may find U.S. regulatory
requirements to be much more stringent than those in Europe. Specifically,
the SEC has strict rules regarding what kinds of companies can own public
utilities (a category into which LGOfalls) and E.ON's diverse, non-power
operations may send some red flags to American regulators.  Consequently,
although E.ON appears rather confident that this deal will be completed
rather soon, Powergen's reported resistance and U.S. regulatory obstacles may
thwart this yet-to-be-formally-announced partnership.

An archive list of previous IssueAlerts is available at
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Copyright 2001. SCIENTECH, Inc. All rights  reserved.


MARK HAEDICKE,
?
The PEP system will be open through Friday, June 1st so that you may complete
or decline your reviews.
?
Our records indicate that you have one or more requests for feedback that
have not yet been submitted.  Please complete or decline these requests as
soon as possible by logging into PEP at http://pep.enron.com and selecting
Complete Feedback from the Main Menu.
?
If you have any questions, please contact the PEP Help Desk at:
Houston:  713.853.4777, Option 4 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@enron.com
?
Thank you for your participation in this important process.


Sara,

I have already had a brief discussion with Tana on some of the points below &
would appreciate your feedback and clarification on some specific issues.

We are currently looking at ability of Enron to rehypothecate securities
(principally T-bills) received as collateral.

Clearly the ability to rehypothecate securities that we hold can provide
significant benefits. The free up of funds that are being used to post cash
collateral to counterparties increases our B/S liquidity & reduces the total
cost of borrowing associated with posting cash.

We are reviewing the use rehypothecation of all securities posting for all
counterparties. Clement is in the process of executing a domestic custody
agreement with Chase Manhatten Bank which will facilitate rehypothecation.

More specifically we are looking at the ability to rehypothecate collateral
related to the most recent Mahonia pre-pay structure (very similar to Alberta
pre-pay).
The collateral arrangement within Mahonia provides for back to back transfer
of collateral right through the structure. This results in a net zero cash
position if all parties post cash. However if Enron receives securities (from
Chase) that we cannot reassign (to Mahonia - an SPE), the cash collateral
calls we are seeing are in the region of $600mm (approx. $42mm/yr in interest
expense to Enron).

In the past Chase have interchangeably used securities & cash. They are
currently posting cash, however they intend to post securities going forward
for this specific deal.

The most pressing issues going forward:
Does the existing Chase ISDA permit rehypothecation of securities. We are
looking at this. If it does not, then we will need to negotiate an amendment
to the credit support annex.
Accounting treatment - there are issues around the accounting treatment for
rehypothecation under the Mahonia transaction, principally relating to the
acceptability of the same securities posted by Chase being posted  to Mahonia
SPE (Chase equity in SPE), thus linking all the swaps & potentially bringing
the pre-pay back on B/S.
We need to justify that we can rehypothecate Chase securities posted within
the structure. AA's key point is that linkage occurs as the securities posted
are most likely to be registered to Chase &  these are then posted back to
Mahonia SPE with Chase equity.

Our case to support the use of Chase securities within the Mahonia pre-pay
structure relates to:
T-bills are highly liquid instruments & effectively cash equivalent
Securities posted by banks are typically registered to a street name ie a
brokerage house (ie not registered to Chase), if there is no physical
delivery. We are verifying that this is the case with the securities posted
by Chase.
Market standard contractual terms permit use of these posted securities

Re the last point, I have looked at our the standard ISDA credit support
annexe para. 6 (c) relating to Use of Posted Collateral, section (i). It
appears to say that regardless of a default occurring, the Secured Party
(Enron) has the right to "sell, pledge, rehypothecate, assign, invest, use,
commingle or otherwise dipose of, or otherwise use in its business any Posted
Collateral it holds............." Please confirm that that I have not
misinterpreted this or missed out relevant exclusions
- Cris, this standard ISDA language should further support our case to AA?.

In addition, I would like to clarify ownership & title to securities that are
rehypothecated in the event of default if a) Enron receives securities that
are then rehypothecated & Enron defaults b) the third party receiving
rehypothecated securities defaults

We are aiming to have the Domestic Custody Agreement executed within the next
10 days, & we would like to be in a position to assign securities posted to
us shortly thereafter for the Mahonia deal.

Outside of the Mahonia transaction, there is currently an additional $65mm
approx. in securities being posted to us by our counterparties. Going forward
we will:
Establish who are the counterparties where we have existing collateral
agreements that permit rehypotheaction of securities.
If we are receiving securities from CP where we are not permitted to
rehypothecate, we intend to amend the ISDA.

I would very much appreciate you response on use of posted collateral &
ownership & title to securities in the event of default.

Many thanks,

Soma


On 2-19-02 , that afternoon we discovered by chance our pagers were not working.  Early the next morning (2-20-02 I called Unity Pager out of Hobbs to inform them of the situation. They told me that Frank Sosa was trying to clean up pagers that was not being used to get them off our bill.  And that all our pagers were ones they didn't know who they belong to. I faxed a copy of the teams names and their pager numbers, she then told me they would be turned back on that day. (2-20-02  The morning of 2-21-02 we tried our pagers and they still did not work.  I then called Unity pager, and told them that our pagers still did not work.  Heather (Unity employee) told me they see why they are not working and to give them 5 or 10 minutes and they would be on.  Three hours later still our pagers did not work. I called and talked to Heather again, when she informed me that they do not cover our area on the plan that we are on, and to change the plan and get our pagers working would have to get the OK from Frank Sosa.  And they are going to have a meeting with Frank on 2-22-02.  So until further notice you can not reach ANY San Juan Team member via pager till something is done to get them working, or we can get another paging company, our team has had alot of problems over the past year with our pagers.

                                                                           Brian

I have called OCC to inform them also.


Susan: My bad!  Maybe the payment combines two Williams entities and that would explain why they amount exceeds our invoice amount.

Shielah: Angelo gave me your name as a contact that could help with regard to cash inflows.  Please provide detail about the cash inflow from Williams on 3/5/02.  Specifically, which Williams company(s) provided the payment?  Thanks

 -----Original Message-----
From: 	Bailey, Susan
Sent:	Thursday, March 07, 2002 1:48 PM
To:	Dicarlo, Louis
Subject:	RE: Daily Direct Cash Flow

Louis,

I have entered into the Demand Log the cash payment information for the counterparties listed below.

I have one question:

	According to the Cash Flow report -- the payment is noted from "Williams Energy Services Company", do we know for a fact that the monies relate to ENA's relationship with Williams Production RMT????

Susan

 -----Original Message-----
From: 	Dicarlo, Louis
Sent:	Thursday, March 07, 2002 12:59 PM
To:	Bailey, Susan
Cc:	Shackleton, Sara
Subject:	Daily Direct Cash Flow

 << File: 030602daily direct cash flow.xls >>
The above attached file contains validation of payment from:

Cross Oil's on 3/5/02 for the full demand letter amount
San Diego Gas & Electric on 3/5/02 for the full demand letter amount
Stone Energy Corporation on 3/6/02 for the full demand letter amount
Williams Production RMT on 3/5/02 for an amount considerably larger than the demand letter amount ($0.75M paid vs. $0.64 demand)

Please update the Demand Letter Log to reflect that their payment was received.  No termination letter will go to these CPs at this time.

Thanks

Louis R. DiCarlo
ENA Gas Structuring
Phone: 713-345-4666
Email: louis.dicarlo@enron.com


"Privileged and Confidential"

There appears to be consensus among the Project Stanley team around a
decision that Enron Canada will decline TransAlta's invitation to join it and
other Alberta electricity marketers in a coalition whose objective will be to
pursue some form of action to attempt to prohibit B.C. Hydro Power Supply and
Powerex from continuing their alleged abuse of the Network Economy provisions
in the B.C. Hydro Wholesale Transmission Tariff.  This decision is acceptable
to the Enron Canada and ENA commercial groups (Rob Milnthorp and Tim
Belden).

TransAlta will be advised tomorrow that Enron Canada is not prepared to
consider participating in the coalition while the TransAlta legal action
against Enron Canada is outstanding.    Enron will do its best to monitor the
activities of the coalition through our contacts at those companies that
choose to participate and may, of course, intervene in any proceeding in
either the U.S. or Canada that the coalition is able to initiate in pursuit
of its objective.

Regards,

Rob


These are draft versions of the interruptible purchase agreement and confirm for your gas into Fort Union.  Think about what you what to do for term, volume etc.  We will then add in the gathering charges.  We are pretty flexible, so let me know what works for Patina.

Thanks,

Mark

 -----Original Message-----
From: 	Nemec, Gerald
Sent:	Monday, October 22, 2001 4:14 PM
To:	Whitt, Mark
Cc:	Perlingiere, Debra
Subject:	Patina Oil & Gas Docs.


Here is the other one.

----- Forwarded by Gerald Nemec/HOU/ECT on 07/06/2000 09:59 AM -----

	Mark Courtney
	07/05/2000 11:03 AM

		 To: Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: compression cases cont'd

See Clear Creek Storage Company, 84 FERC ?61,210 (1998).