News in Bloom
An Official 1-800-FLOWERS.COM Newsletter
November 2000

Welcome to News in Bloom - the official monthly newsletter of
1-800-FLOWERS.COM.  This is our way of keeping loyal customers, like you, up
to date with hot deals on our gifting collections, new additions to the
1-800-FLOWERS.COM family, and ideas on how to decorate your home with
seasonal decorations and floral arrangements.  As we welcome Thanksgiving
this month, we have lots of terrific gifts to Complete the Feast! Please
browse our newsletter to see all we have to offer.

Ideas in Season! Share this Thanksgiving with a far-away friend, relative, or
someone special you are thinking of with a great gift or floral arrangement
from our Thanksgiving Collection. The perfect way to be part of the holiday
when you can't be there in person.
http://www.1800flowers.com/cgi-bin/800f/collection.pl/wtgnb/17/0/0/0/0/0

What's New!  SPECIAL ANNOUNCEMENT! We are happy to announce our association
with America's leading producer of fine china--Lenox, gifts that celebrate
life!  The impeccable quality of Lenox giftware brings further prestige to
our growing selection of gifting items.  And for you, that means it's easier
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http://www.1800flowers.com/flowers/x_e.asp?r=wlxnb&g=welcome.asp?section=101

Hot Offers! Share something delicious even if you can't be there for the big
meal! Receive 10% off* when you select a delectable gift from our specially
selected GREATFOOD.COM 10% off collection. Be sure to use promotion code THX2
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http://www.1800flowers.com/flowers/xt_quick.asp?r=wgfmc&s=64

What's the Buzz? Decorate the Thanksgiving tables of family and friends and
send our breathtaking Thanksgiving Centerpiece. It's a great gift to give
when you can't be there for the big holiday dinner! Along with our
centerpiece, you'll find wonderful desserts and gourmet treats for
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http://www.1800flowers.com/flowers/x_e.asp?r=wtgcnb&g=gift/h_index.asp

Don't Forget! Look for our November Gift Guide arriving in your mailbox
November 15th! Andgobble, gobble, Thanksgiving is Thursday, November 23rd!

Stop by your local 1-800-FLOWERS shop for the perfect gift to present to your
Host or Hostess, or if you're missing that special something to complete your
own Thanksgiving feast!
http://www.1800flowers.com/flowers/x_e.asp?r=whpnb&g=stores/locator.asp

Happy Thanksgiving!
Your Friends at 1-800-FLOWERS.COM

Visit us!  We have the perfect gift for anniversaries, birthdays or "just
because"! Visit us at http://www.1800flowers.com.

Bookmark us: To start shopping any time, for any occasion, bookmark our site
at keyword: flowers or 1-800-FLOWERS.COM at
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To Unsubscribe: Your subscription to this newsletter is free! We don't want
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*Exclusive of applicable service and shipping charges and taxes.  Items may
vary and are subject to availability, delivery rules and times.  Items
available online and by phone.  Offers cannot be combined, and are not
available on all products and are subject to restrictions and blackout
periods.  Offer valid through 11/30/00.  Void where prohibited. ,2000,
1-800-FLOWERS.COM,INC.


Sashe D. Dimitroff
King  &  Spalding
1100 Louisiana, Ste. 3300
Houston, Texas 77002
(713) 751-3229 (direct)
(713) 751-3290 (fax)
sdimitroff@kslaw.com

> -----Original Message-----
> From:	Correll, Charles
> Sent:	Wednesday, September 26, 2001 6:08 PM
> To:	Dimitroff, Sashe
> Subject:	FW: US response
>
>
>
> -----Original Message-----
> From:	jfarley@reliant.com [mailto:jfarley@reliant.com]
> Sent:	Wednesday, September 26, 2001 12:35 PM
> To:	pierce_scott@jpmorgan.com; Anthony R. Ierardi; tjl334@yahoo.com;
> indysq5@yahoo.com; jim_wilon@hotmail.com; Correll, Charles;
> mclaugh4@mit.edu
> Subject:	US response
>
>  <<WonTheTo.jpg>> Need to add a Cav Regiment to the attached picture...
>
>
> (See attached file: WonTheTo.jpg)

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


- Paragraph 3: Same concern as in last email.
- Paragraph 4: Are we happy to forego the application of the liabilities
clause whenever a Counterparty does a transaction under a Master agreement,
instead of a GTC?

Dave

   Carol St Clair @ ECT                05/11/2000 07:12 PM

To: David Forster/Corp/Enron@Enron
cc: Tana Jones/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT

Subject: Kennecott ETA Amendment Letter

David:
Enclosed is a new draft of the Kennecott amendment letter.  Mark and I have
discussed the counterparty termination language and have come up with the
language that I have high;lighted.  Upon your approval, I plan to use the
same language for the Duke and Cinnergy letters.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)


Hey:
My office number is 713-853-7998.  Lets try and go to lunch this week.  Talk
to you soon.
Ben


Pat:

I received your voice mail this morning.  You are correct -- I understood
that we had resolved all outstanding issues as well, and I am having a letter
agreement prepared and will send to you as soon as possible.

Thanks for your patience.

Leslie


Start Date: 10/25/01; HourAhead hour: 10;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001102510.txt

Error retrieving HourAhead price data - process continuing...
---- Generation Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/25/01
  UNIT_ID: CALGEN_1_UNITS

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/25/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_TRISTATE
  ENGY_TYPE: NFRM


EES spreadsheet
---------------------- Forwarded by Stephanie Piwetz/HOU/ECT on 02/14/2001
12:19 PM ---------------------------

Jubran Whalan@EES
11/14/2000 02:43 PM
To: Term Hedges for EES Portfolio
cc:
Subject: 11/14


Glenn, are you taking point on all these new Calif. proceedings?  Given Tony's commitment to other projects right now, I'd like you to, with support from Tony and Dan as needed, if Steve and Rob agree.  When Bill Rapp starts in our group Monday, we can start getting him up to speed as well. Thanks.  DF

-----Original Message-----
From: Dan Douglass [mailto:douglass@earthlink.net]
Sent: Wednesday, October 17, 2001 1:34 PM
To: Harris, Steven; Fossum, Drew; Pryor, Tony; Hass, Glen
Subject: Fw: PG&E's Gas Accord II application
Importance: High

Gentlemen,

Attached is PG&E's Gas Accord II application, filed as directed by the
Commission last month in D.01-09-016.  It is captioned as the, "Application
of Pacific Gas and Electric Company (U 39 G) Proposing a Market Structure
and Rules for the Northern California Natural Gas Industry for the Period
Beginning January 1, 2003."  The Commission Order required, "an application
proposing a market structure, rates, and terms and conditions of service
relating to the PG&E gas transmission and storage system for the period
beginning January 1, 2003, when most of the provisions of the existing 'Gas
Accord' are scheduled to expire."  There is no testimony attached.  Instead,
PG&E notes that, "the service of supporting testimony at the time an
application is filed is not required by the Commission's Rules of Practice
and Procedure."  They say that testimony, if any, would be filed after a
prehearing conference is scheduled.  The utility suggests December 17 for
the conference.

In summary, PG&E requests Commission authorization to extend the existing,
approved Gas Accord market structure and rates for a two-year period.  Under
this proposal, those provisions of the Gas Accord currently scheduled to
expire as of January 1, 2003, will be extended through December 31, 2004,
while other provisions of Gas Accord scheduled to expire as of April 1, 2003
(consisting of certain storage-related provisions) will be extended through
March 31, 2005.  As noted by the utility, "This approach would not preclude
parties from proposing specific, justified operational or other limited
changes during the two-year extension period.  However, as discussed below,
parties seeking to obtain Commission approval of changes in the Gas Accord
regime, and thus to alter the status quo, must bear the brden of proof on
such issues."  If the simple, two-year extension of the Gas Accord is
adopted as requested, PG&E says it will waive the 2.5 percent escalation for
the two-year Gas Accord II extension period.

The application also notes that on September 20, 2001, shortly after
issuance of D.01-09-016,  PG&E filed a Plan of Reorganization with the
Bankruptcy Court, which, if adopted, would substantially restructure PG&E's
existing business operations.   As proposed, the Plan of Reorganization
would alter the regulation of PG&E's natural gas transmission and storage
system, as the utility's gas transmission and storage operations would be
transferred from PG&E to a new corporation, and operated under exclusive
FERC jurisdiction.   Assuming FERC accepted such jurisdiction, the CPUC
would no longer would have jurisdiction over the rates or terms and
conditions of service on the PG&E gas transmission and storage system.  Your
thoughts on this development would also be appreciated.

I assume we need to review this application to determine its potential
impact on Transwestern and that we should, of course, monitor the proceeding
generally to determine if any active role is required at a later date.  What
are the fundamental issues that concern Transwestern when considering PG&E?
How do you feel about FERC jurisdiction of its transmission/storage systems?

Finally, note that PG&E states that, "...contributing to uncertainty in the
gas markets is the large number of interstate pipeline construction projects
that have been proposed.  It will take at least a year or two before the
viability and impacts of those various pipeline projects can be confirmed in
the marketplace."  The utility also includes a footnote 9 that references
the Transwestern Red Rock FERC application (as well as seven other projects)
as pending at FERC.

Let's discuss at your convenience.

Dan

Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd.  Suite 244
Woodland Hills, CA 91367
Tel:   (818) 596-2201
Fax:  (818) 346-6502
douglass@energyattorney.com
----- Original Message -----
From: "Stewart, John C" <JCSv@pge.com>
To: <alan_reid@pcp.ca>; <andy.bettwy@swgas.com>; <aod@newsdata.com>;
<askaff@energy-law-group.com>; <bcragg@gmssr.com>; <bfinkelstein@turn.org>;
<bjeider@ci.burbank.ca.us>; <blaising@braunlegal.com>; <burkee@cts.com>;
<bwood@energy.state.ca.us>; <ceyap@earthlink.net>; <chilen@llgm.com>;
<chj@a-klaw.com>; <craigc@calpine.com>; <davef@abag.ca.gov>;
<dcarroll@dbsr.com>; <douglas.porter@sce.com>; <dwa3@pge.com>;
<ed@clfp.com>; <edf@cpuc.ca.gov>; <edwardoneill@dwt.com>; <ek@a-klaw.com>;
<eklinkner@ci.pasadena.ca.us>; <epoole@adplaw.com>; <eyq@cpuc.ca.gov>;
<fdeleon@energy.state.ca.us>; <furutanj@efawest.navfac.navy.mil>;
<ghinners@reliantenergy.com>; <grant_kolling@city.palo-alto.ca.us>;
<gsullivan@sempra.com>; <gtbl@dynegy.com>; <gtbl@dynegy.com>;
<haorndorff@aeraenergy.com>; <iep@iepa.com>; <igsinc@ix.netcom.com>;
<inggm@sce.com>; <jcattermole@pcenergy.com>; <jkarp@whitecase.com>;
<jkarp@whitecase.com>; <jleslie@luce.com>; <jmct@gmssr.com>;
<joe.paul@dynegy.com>; <johnj@bcjlaw.com>; <johnwalley@swgas.com>;
<joseh@lif.org>; <jpbatmale@realenergy.com>; <jsteffen@iid.com>;
<jsw@cpuc.ca.gov>; <jweil@aglet.org>; <jwr@cpuc.ca.gov>; <karen@klindh.com>;
<kbhensman@aeraenergy.com>; <kfyip@seiworldwide.com>; <kmccrea@sablaw.com>;
<kmills@cfbf.com>; <lifcentral@lif.org>; <lindseyhowdowning@dwt.com>;
<lmh@eslawfirm.com>; <mark.c.moench@wgp.twc.com>; <mcn@cpuc.ca.gov>;
<mday@gmssr.com>; <mdjoseph@adamsbroadwell.com>; <mer@cpuc.ca.gov>;
<mjaske@energy.state.ca.us>; <napedersen@jonesday.com>;
<pjpowerlaw@aol.com>; <plg@cpuc.ca.gov>; <ram@cpuc.ca.gov>;
<raveen_maan@city.palo-alto.ca.us>; <raw@cpuc.ca.gov>; <rax@cpuc.ca.gov>;
<rbw@mrwassoc.com>; <rczahar@aol.com>; <rfoss@coral-energy.com>;
"'rgloistein@orrick.com'" <rgloistein@Orrick.com>;
<rick.counihan@greenmountain.com>; <rmp@cpuc.ca.gov>; <rochmanm@cubjpa.org>;
<roger.pelote@williams.com>; <ron_oechsler@rmiinc.com>; <ronknecht@aol.com>;
<rpetti@ladwp.com>; <salleyoo@dwt.com>; <sbs@cpuc.ca.gov>;
<skatz@sempratrading.com>; <slins@ci.glendale.ca.us>; <sscott3@enron.com>;
<stomashe@energy.state.ca.us>; <tah@cpuc.ca.gov>; <tdickers@westerngas.com>;
<thompson@wrightlaw.com>; <tom.roth@et.pge.com>;
<tomb@crossborderenergy.com>; <trdill@westernhubs.com>; <vjb@cpuc.ca.gov>;
<cabaker@duke-energy.com>; <mtbrommer@tid.org>; <keith.brown@swgas.com>;
<bbrunel@smud.org>; <pcervin@br-inc.com>; <scohn@smud.org>;
<bruce.a.connell@usa.conoco.com>; <jdasovic@enron.com>;
<eric.eisenman@neg.pge.com>; <eke@aelaw.com>; <bobfraser@aec.ca>;
<frazier@bull.som.yale.edu>; <agold@coral-energy.com>; <marcel@turn.org>;
<steve.huhman@mirant.com>; <pkeeler@br-inc.com>;
<alan.killion@williams.com>; <kl@mrwassoc.com>; <llorenz@pacent.com>;
<kmagruder@newpower.com>; <jmartini@cipa.org>; <sandra_mcdonough@pcp.ca>;
<pat_mulhern@oxy.com>; <gnadeau@suncor.com>; <mnyberg@energy.state.ca.us>;
<judypau@dwt.com>; <pinney@capp.ca>; <rpurves@sdge.com>; <gregs@mid.org>;
<peter.saunders@paramountres.com>; <michael_r._soland@oxy.com>;
<tsurak@socalgas.com>; <jsuwara@sempra.com>; <JeffreyGray@dwt.com>; "Kauss,
Kent" <KWK3@pge.com>; <wgmanuel@tid.org>; <mflorio@turn.org>
Cc: "Lindh, Frank (Law)" <FRL3@pge.com>; "Lieu, Lisa" <LKL1@pge.com>;
<Fogelmanm@steefel.com>; "McLafferty, Daniel" <MDM8@pge.com>; "Williams,
Ray" <RDW0@pge.com>; "Bellenger, Geoffrey" <GJB2@pge.com>
Sent: Tuesday, October 09, 2001 4:50 PM
Subject: PG&E's Gas Accord II application

Today, October 9, 2001, Pacific Gas and Electric Company (PG&E) filed an
application with the California Public Utilities Commission (CPUC).

In this application, PG&E proposes a market structure and rules for the
northern California natural gas industry, beginning
January 1, 2003.  PG&E's filing was in response to a recent Commission order
(Decision 01-09-016), which directed PG&E to file a "Gas Accord II"
application.

If you have any problems opening these documents, please contact me at (415)
973-8677.

 <<CovLtr_GAII.doc>>        <<GAII_final.doc>>         <<GAII_Exhibit.pdf>>
Thank you,

John Stewart
Case Coordinator
Pacific Gas and Electric Company
(415)973-8677
jcsv@pge.com


Effective immediately Xochil Moreno has accepted an assistant position in
Anthony Dayao's area working with Jodi Dziadek in supporting his team.

Kim Ladish has transferred to us from EES and will be supporting myself as
well as Bryan Powell, Scott Williamson and their respective teams.  She is
located at EB2532B and her extension is 31900.

Please join me in welcoming Xochil and Kim into their new roles.


---------------------- Forwarded by Chris Germany/HOU/ECT on 06/06/2000 07:47
AM ---------------------------

Tommy Garza
06/05/2000 06:02 PM
To: Chris Behney/HOU/ECT@ECT, Michael Bodnar/ET&S/Enron@ENRON, James L
Copeland/HOU/ECT@ECT, Gene L Brantz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike
Coleman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ngoc Luan
Do/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wayne Feng/ET&S/Enron@ENRON, Tommy
Garza/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, David L
Glessner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angela Hylton/Corp/Enron@ENRON,
Steve Iyer/ENRON_DEVELOPMENT, Dan Kirtane/ET&S/Enron@ENRON, Joshua M
Langford/HOU/ECT@ECT, Steve Littel/OTS/Enron@ENRON, Joseph Eric
Maier/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David McEllin/FGT/Enron@ENRON,
Dave McMullan/HOU/ECT@ECT, Robert S Smith/OTS/Enron@ENRON, Angela
Sayegh/OTS/Enron@ENRON, Norm Spalding/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Agatha B Tran/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bob
Meckna/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James
Pfeffer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cheryl Norton/HR/Corp/Enron,
Julie Meyers/HOU/ECT@ECT, Mary Ogden/HOU/ECT@ECT, Nick Hiemstra/HOU/ECT@ECT,
Daniel Olson/FGT/Enron@ENRON, lmchurch@flash.net, Tommy Garza/HOU/ECT@ECT,
Brian Kerrigan/HOU/ECT@ECT, Alex Arriaga/EPSC/HOU/ECT@ECT, Michelle
Horn/GPGFIN/Enron@ENRON, George Weber/Corp/Enron@ENRON, Tracy
Weltz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Reyna Cabrera/HOU/ECT@ECT, Ace
Roman/HOU/ECT, Todd Thelen/Corp/Enron@ENRON, Erwin Grose/Corp/Enron@ENRON,
Tracee Bersani/HOU/ECT, Sharad Malhotra/HOU/AZURIX@AZURIX, Valter
Stoiani/Corp/Enron@ENRON, Jackie Nelson/HOU/ECT@ECT, David Horn
<David.Horn@sage.nelesautomation.com> @ ENRON, Shyril L Scott/HOU/ECT@ECT,
Martin Lin/HOU/ECT@ECT, Brian Hoskins/HOU/ECT@ECT, Janie Aguayo/HOU/ECT@ECT,
Daniele Crelin/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Mark
Frank/HOU/ECT@ECT, Jin Guo/HOU/ECT@ECT, Timmy Ng/HOU/ECT@ECT, Daniel
Diamond/HOU/ECT@ECT, James Armstrong/HOU/ECT@ECT, Charles Barker
Varnell/DEN/ECT@Enron, Gregg Lenart/HOU/ECT@ECT, Candi Stanley/HOU/ECT@ECT,
Christopher Riley/HOU/EES@EES, Trina Samuel/HOU/EES@EES, Michelle
Juden/HOU/EES@EES, Anita Llamas-Granado/HOU/EES@EES, Yasir Khan/HOU/EES@EES,
Liz Beddingfield/OTS/Enron@ENRON, Jerry Spencer/GPGFIN/Enron@ENRON, Lisa
Costello/OTS/Enron@ENRON, Joni Moeller/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Rosalinda V Gonzalez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sherryl
Stone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Martin Lin/HOU/ECT@ECT, Susan
Brower/ET&S/Enron@ENRON, Jean Eakins/GCO/Enron@ENRON, Barbara
Rose/HR/Corp/Enron@ENRON, Carolyn Henry/ET&S/Enron@ENRON, Amy
Oberg/HOU/EES@EES, Michelle Robichaux/HOU/EES@EES, Zulema
Ibarra/Corp/Enron@ENRON, Ahmed Malik/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Maria Luna/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Edward Jr
Chavez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Patrick
Dominguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael Neves/HOU/ECT@ECT,
Carol Essig/Corp/Enron@ENRON, Guy Schlein/Corp/Enron@ENRON, Daniella
Carneiro/Corp/Enron@ENRON, Sandra Hrna/HOU/ECT@ect, Adrial
Boals/Corp/Enron@Enron, George Thomas/Corp/Enron@ENRON
cc:
Subject: June 13th Tournament.

ENRON TENNIS ASSOCIATION TOURNAMENT

WHERE: THE METROP0LITIAN RACQUET CLUB
ONE ALLEN CENTER     Houston TX. 77002
WHEN:  SATURDAY, JUNE 13TH, 2000

TIME:  9:00 A.M.  TO  1:00 P.M.

FORMAT: SINGLES

Warm up begins at 9: a.m.  And play starts at 9:30 a.m.
Dues are $25.00 for the season.
It can be paid at the tournament or sent to any of the officers of the Tennis
Committee.
Make checks payable to &Enron Corp8.
A new waiver of liability form will need to be completed by each player prior
to the tournament.
Food and drinks will be provided.
Due to limited court space and time please RSVP by Thursday 8th, 2000 if you
are planning to attend. The Tennis
Association reserves the right to change format to Doubles due to a larger
than normal turn out.

If you have any questions, please feel free to contact any one of the Enron
Tennis Association Committee:
Tommy Garza @3-6686, Gene Brantz @6-7428, James Pfeffer @6-7685, Dan Olson @
3-5601 or Robert Smith @6-7427.

Thanks and we look forward to seeing you there.

Feel free to pass this information on to any one else interested in
participating with the Tennis Association.


One project co is good enough.

ckm

From: Greg Krause/ENRON@enronXgate on 05/23/2001 01:42 PM
To: Kathleen Carnahan/ENRON@enronXgate, Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: FW: New lease option

Kay,
One of the first things we do after we execute an option agreement is to get
into the interconnect queue.  To do so, we must enter into an interconnect
study agreement and in the past we have entered into these agreements using
the same project agreement that has the option agreement.  Are you saying
that we need two project companies for each project: one for the option
agreement and one for the interconnect study agreement?  As you may know, it
has taken 11 months to get to the point in the Midway project from the time
we executed an interconnect study agreement with FPL to today when we are
ready to begin negotiating a construction and connection agreement.  Would
you please clarify the issue for me?

 -----Original Message-----
From:  Carnahan, Kathleen
Sent: Wednesday, May 23, 2001 1:03 PM
To: Mann, Kay
Cc: Krause, Greg
Subject: RE: FW: New lease option

Okay.  I will set up a new LLC (Homestead Development Company, LLC, if
available).  Would it be preferable for its sole member to be Lauderdale Land
Development Company, LLC or ENA?

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, May 23, 2001 12:46 PM
To: Carnahan, Kathleen
Subject: Re: FW: New lease option

I wouldn't use  an LLC with an prior history.  We might have to get the old
stuff approved in order to put the equity into TurboPark.  If the LLC paid
for an interconnect study, it could be a hard cost and we are dead.

I know this seems silly, but hey, it is!

ckm

From: Kathleen Carnahan/ENRON@enronXgate on 05/23/2001 11:31 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: FW: New lease option

We have decided to use:  Voyager Development Company, L.L.C. for the new
Homestead land option.  We had initially planned to use it for an option that
we let go (Option Agreement never got assigned to Voyager either).  According
to Greg Krause, the only thing associated with Voyager was an old
interconnect study request that was paid for and never used.  I feel
confident that Voyager is "clean" to use.

Kathleen
 -----Original Message-----
From:  Ann Elizabeth White
Sent: Saturday, May 19, 2001 12:19 AM
To: Kathleen Carnahan
Subject: New lease option

I talked to Kay about the new land option Greg will be negotiating this
weekend in Homestead.  She said to put the options in the terminal company,
not Lauderdale Land, LLC as you had suggested.  Pick one of the other LLCs
for me and let me know the name.

Thanks.


---------------------- Forwarded by Darron C Giron/HOU/ECT on 02/28/2001
11:24 AM ---------------------------

Scott.Crowell@us.cgeyc.com on 02/28/2001 10:30:44 AM
To: GBauer@mtlm.com, drewbeckman@hotmail.com, jcarlisle@carltonstaffing.com,
colirma@yahoo.com, jennifer.fowler@kaiseral.com, mike.fultz@halliburton.com,
dgiron@enron.com, chad.glessman@bankofamerica.com, bret_hat@swbell.net,
Dawn.C.Kenne@enron.com, jennifer_kern@yahoo.com,
Crystal_Kettle@neimanmarcus.com, jay_liberman@ml.com,
Phillip.M.Love@enron.com, tracy.manders@oracle.com,
MikeMullen@mail.house.gov, jnagy@intraspect.com,
ValerieParker@carltechinc.com, PattiS7@aol.com, srasmussen362@earthlink.net,
CRoberson@ASAPSC.COM, leslie.salyer@lyondell.com, sassytxn7@aol.com,
csiddons@comscore.com, rsole@us.oracle.com, philipsutton@yahoo.com,
mikepthomas@yahoo.com, sheri.thomas@enron.com, bentsuch@yahoo.com,
bigluv54@aol.com, nmw14@yahoo.com, slsdfy@earthlink.net,
nateandmichelle@home.com
cc:
Subject: Recall  [CGEY Virus checked]

Funny!

Scott Crowell
Cap Gemini Ernst & Young Consulting
Senior Consultant - Oracle High Growth

214.665.5751  office
214.543.9093  cellular

----- Forwarded by Scott T. Crowell/CGEY/EYLLP/US on 02/28/2001 10:28 AM
-----

                    "Timothy
                    Bose"                To:     "Kern, Jennifer"
<Jennifer.Kern@aocnet.com>,
                    <bosetb@minds        <Scott.Crowell@us.cgeyc.com>
                    pring.com>           cc:
                                         Subject:     Recall  [CGEY Virus
checked]
                    02/27/2001
                    09:44 PM
                    Please
                    respond to
                    "Timothy
                    Bose"

I know that you two will appreciate  this

Tim
(See attached file: Vibrator Recall.mp3)

______________________________________________________________________
The information contained in this communication is intended solely for the
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nor for any delay in its receipt.
 - Vibrator Recall.mp3


Carson:

Have a good Turkey day!  It's pretty morbid here but I'm trying to remain optomistic.  I am also going to N.O. and big B.R.  Tell Monty to call me soon.  Sara

 -----Original Message-----
From: 	"R. Carson Llewellyn" <carlew@flash.net>@ENRON
Sent:	Wednesday, November 21, 2001 9:49 AM
To:	Sara Shackleton; Shackleton, Sara; Donna_J_Mullen@DOM.COM
Subject:	Thanksgiving

Hi Sara:

Just a note to let you know that I will do my part to consume your
excess wine even though Enron is experiencing such difficult times. That
is the kind of guy I AM. I am sure that Donna will do her part also.

I am off to New Orleans to spend Thanksgiving Day at the Fair Grounds
Race Track. I might even see Monty. I hope you and your family have a
wonderful day.

Keep your head up,

Carson


Kaiser is up $10 myn on swaps and we control physical prior to payment on a
agent basis

Large Metals Account for us

Craig

From: Tana Jones on 11/01/2000 07:43 AM
To: Craig Young/NY/ECT@ECT
cc:
Subject: Re: ISDA

Just a note on Kaiser, the agreement we have in place has terrible credit,
and Bill Bradford w/Credit refuses to trade under it.  We are in the process
of replacing it with another.

	Craig Young
	11/01/2000 07:14 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Craig Young/NY/ECT@ECT, Justin Boyd/LON/ECT@ECT, David P
Tregar/EU/Enron@Enron, Marcelo Parra/NYC/MGUSA@MGUSA,
tj.pimpinelli@mglondon.com, Tana Jones/HOU/ECT@ECT, Eric Gadd/LON/ECT@ECT
		 Subject: Re: ISDA

Mark --- Tana was very helpful. Thank you for your help moving this issue
forwards.

We could use the following executed agreements:

Bethlehem  Steel
Kaiser
Alcoa
Tudor
U.S. Steel
Several Banks

You have about a dozen working agreements

Gen Electric/Honeywell/Allied Signal
Anheuser Busch
Bonneville
Emerson Electric
Falconbridge
Ford
Harvard
Hydro Quebec
LTV
Moore Capital
OK Tedi
Ormet
Phelps Dodge
Alcan
Trafigura

We can bring the following:

Catequil --- Fund/Old Tiger Team
Grupo Mexico/Southern Peru
Gen Motors
Vanalco
Coke
Pepsi
Ball
Crown Cork
Arco/BP
American National Can
BHP
Caxton-- Fund
Campbell -- Fund
Noranda
Perelli
Femsa -- Mexico
Commonwealth
Aluar
Michigan Ave Partners
Century Alum
Toyota
Southwire
Wabash

Justin ---- could you update us on legal structure, tax and regulation

Craig Young

From: Mark Taylor on 10/31/2000 06:30 PM
To: Craig Young/NY/ECT@ECT
cc:
Subject: Re: ISDA

Craig:

Sorry I couldn't get back to you earlier.  I  asked Tana Jones to get you
access to our database that keeps track of financial master agreement
negotiations so you will always be up to date on where we stand with the
process.  If you haven't heard from her, please let me know.  Any word from
Justin on which Enron entity we will use for trading in the U.S.?

Mark

	Craig Young
	10/31/2000 10:09 AM

		 To: Mark Taylor/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT
		 cc: Craig Young/NY/ECT@ECT
		 Subject: ISDA

As a start could you advise if we have an ISDA with the following firms

Coke
Pepsi
Anheuser Busch
Gen Motors
Ford
Mercedes Benz
Steel Companies
Metal Companies
Container Companies
Hedgd Funds
Emerson Electric
Hydro Quebec
Bonneville

Do we have a clearing house for global ISDA agreements?

Craig Young
212-715-2342


Start Date: 1/2/02; HourAhead hour: 6;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010206.txt
!!!General SQL error.
Couldn't update; currently locked by user 'admin' on machine 'ECTHOU-BPS4'.
Table
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTstCA
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: ENRJ_CISO_3001
  ENGY_TYPE: FIRM
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTstSW
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: ENRJ_CISO_7000
  ENGY_TYPE: FIRM
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTstSW
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  TIE_POINT: MEAD_2_WALC
  INTERCHG_ID: ENRJ_CISO_8000
  ENGY_TYPE: FIRM

---- Load Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  LOAD_ID: PGE1
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  SC_ID: ENRJ
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  SC_ID: ENRJ
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  SC_ID: ENRJ
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  LOAD_ID: SCE1
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  SC_ID: ENRJ
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 1/2/02
  SC_ID: ENRJ


As you know, Enron Wholesale Services (EWS) has been reorganized under the leadership of CEO Jim Fallon.  Rich DiMichele supports Jim as COO of EWS, while also continuing in his role as head of Enron Broadband Services (EBS).  EWS businesses include:  Enron North America, EBS, Enron Industrial Markets, Enron Global Markets, Enron Europe and Enron Canada.  EWS' business focus remains on maximizing creditor value and determining which businesses and assets will be a part of Enron's reorganization plan.

In addition to Rich, reporting to Jim are:

?	Don Miller - ENA
?	Gary Hickerson - EGM
?	Rodney Malcolm - EIM
?	Eric Shaw - Enron Europe
?	Kyle Kitagawa - Enron Canada
?	Lance Schuler - General Counsel
?	Barry Pearce - Chief of Staff
?	Dave Gorte - RAC
?	Kent Castleman - Accounting
?	Shanna Funkhouser - Human Resources

Enron Wholesale Services

<Embedded MS Organization Chart 2.0>


I just  spoke to Jeff and he is interested in talking to you.  He saw your
name on some kind of list for "redeployment" and asked if I knew you.   The
job is in his fundamental analysis group.  He wants you to send your resume
today.

Pete


Mark,

I thought the CA included an LOT term in both the numerator and denominator,
which is how I am coding it in the Crystal Reprots application.

JD

Mark Fisher
05/29/2002 08:30 AM
To: Stan Ballard/EWC/Enron@ENRON
cc: Hollis Kimbrough/EWC/Enron@ENRON

Subject: Availability formulas used

These are the approximations (since no manual data was used) used in the
tables you were provided.

"Enron Availability"     ea = (SOT+LOT+WOT+EST)/ST

Contractual Availability (EPC)  ca=(survey-DT-RT-MT)/(survey-4/(31*24))

Where

SOT= System OK time
DT= Down Time
LOT= Line Out Time
WOT= Weather Out time
EST= External Stop Time
MT= Maintenance time
RT= Repair time

ST=SOT+DT+LOT+WOT+EST+MT+RT
survey= Survey time

the 4/(31*24) is an approximation for the prorating of the allowed "4 hours
per month" for maintenance time.

If you have questions let me know.

Mark


Rick,
While I am not 100% sure of what Greg means by international credit, both Bill and I  have recognized that there is a facet of RAC/Credit function that we are not net long vis-a-vis the direction of the business, particularly the non-energy commodity businesses - steel, metals, paper - as well as the coal business and the crude complex.  What seems to be needed is some people that have experience in structures (good and bad) that support the movement of large packages of physical goods from the 3rd world to the first world.  Knowledge of the subleties of l/c language, insurance products, dog counterparties, typical scams, money launderers, lay ranges, demurrage....To that end, we both interviewed and subsequently hired John Collenette, head of credit for an international trading organization - Trafigura.  John spent 10 years at Paribas and then the last 7 at Trafigura.  He went through 3 full rounds of interviews, primarily with the metals guys and incuding Michael Brown.  My plan was to install him as the 'team lead' in metals allowing him to get 'enronized' with the idea that he would expand his role to include global products and EIM.  I guess I will accelerate this process.
In addition, I have also hired a sr spec with metals experience from Koch.  We have interviewed a few other prospects with transactional credit experience.  We are planning to supplement some of this industry knowledge with Tracy Ngo and a few strong managers with solid credit skills.  The issues we have yet to begin getting traction are how to staff other offices - NY and Sydney principally.  Here we are constrained by current budgets.

Also, I have worked with the operations staff to take away some of the operational credit issues like chasing down information, money laundering checks, calling  for margin, and opening accounts so that we can hire credit professionals to analyze credits and deals.

Finally, a critical piece of the puzzle is to also strengthen the people and the processes around the logistics of credit - specifically, the logistics function, treasury (l/c issuance/acceptance), and risk management.  It is in the hand-offs of infomation where most of the risk lies, in my opinion.

When you are here, we ought to make that a topic for discussion.  Not to over-state the need, I think it will require somewhat of an on-going focused effort and coordination between offices and departments similar to the EES style.

Ted


If you can leave the airport by 1:30, make it to dook by 2:00, leave dook
by 2:45 (3:00 at the absolute latest), then you'll probably be alright.
Cameron should take all of about 10 minutes to lose your excitement over,
then you can walk around and check out all the ugly pussy that plagues the
campus, then see a bunch of yankee butt pirates circle jerking in the quad,
buy yourself a championship t-shirt with jiz all over it (but they won it
with heart!), you can be out of there in 45 minutes easy!!  Without any
traffic delays, you'll be east of Raleigh where we can meet at 3:45 or 4:00
at the McDonalds at Hwy 42 and I-40 (write that down, it's about 10-15
minutes east of Raleigh).  If you get stuck west of Raleigh in a traffic
snarl, you could be there for 1-2 hours.  I work in Chapel Hill on
Wednesdays and won't drive back on I-40 if it's after 3:00, I take a back
route.

Let me give you directions to Orton just in case, it's easy.  I-40 from
Raleigh to Wilmington, as you approach Wilmington take a right at a big
light on Smith Creek Parkway (new since your day, it's just before Market
Street), go about 1-2 miles and it will end, take a right on 23rd St, pass
the airport on your right, road will come to an end again, take a left, I
think this is Hwy 133 South which takes you around/through nig-town
Wilmington, cross the Cape Fear River and follow signs to Southport staying
on Hwy 133 South which will go straight to Orton, follow the signs into the
gate and the house is on the right once you enter the gate.  From the
airport without major traffic it will take a good 2 1/2 hours without
stopping, say 3 hours with a pissing 4 year old!!

Gate House phone number 910-371-9240
My work number 919-552-6506
My cell phone 919-662-6711

Wesie and I will try to leave at 3:30 so we can meet at 4:00.  Call me when
you get to the airport and let me know what the deal is.  I'm in Chapel
Hill on Wednesday so you could reach me on my cell phone.  I won't get
e-mail on Wednesday.

At 03:52 PM 4/2/2001 -0500, you wrote:
>
>What time do you plan on leaving "East Raleigh"?  How long does it take to
>get to that point from Duke assuming 3:00-4:00 traffic?  If we can get our
>car pretty quick, I might take a quick trip to Cameron only so Hunter can
>see where the greatest dynasty in modern college basketball plays.   If we
>get hung up at all, then I'll defer it for sure though.
>
>(I think you just don't want me to get my family dressed up in Duke
>National Championship paraphenalia to wear all weekend.)
>
>


I will be in the Global Finance PRC all day tomorrow so can you present
Guille in the ESA Directors/ GM PRC?


Samantha,

Please make the following updates to Lotus Notes:

Brokerage Agreements:

BuySideDirect - 9/11 - Phone Conference w/ M. Minnich and M.Fowler re:
Outstanding Issues   (Governing Law, Arbitration, Consequential Damages and
Submission to Jurisdiction)

Frost Securities - 9/8 ENA Comments Rejected; Call placed to Terry Finn
410-895-3602

ING  Barings - 9/8 Called Mark Seffinger.  Mark won't be back in the office
until 9/13.

Lehman Brothers - 9/12 Called Karen Brown 201-524-5680 to follow up.  She is
still waiting on her legal department.

Jeffries & Company Inc. - 9/12 Left message with Bob Eisner 310-914-1310 to
follow-up.

Thanks,

Jason


If you can cover it I would say yes.  It's a key race and we have been close
to Ashcroft for years.  Let's make sure he knows we gave it.... we need to
follow up with him.  Last time I talked to him he basically recited the
utilities' position on electric restructuring.  Let's make it clear that we
want to talk right after the election.

	Joe Hillings
	10/16/2000 04:41 PM

		 To: Steven J Kean/NA/Enron@Enron
		 cc: Richard Shapiro/NA/Enron@Enron, Cynthia Sandherr/Corp/Enron@ENRON,
Carolyn Cooney/Corp/Enron@ENRON
		 Subject: Ashcroft Senate Campaign Request

Joe Hillings
Enron
1775 Eye Street, NW
Suite 800
Washington, DC  20006
202-466-9145
202-828-3372 (fax)
email:  jhillin@enron.com

We have received a request from the Ashcroft Senate campaign for $10,000 in
soft money. This is the race where Governor Carnahan is the challenger. Enron
PAC has contributed $10,000 and Enron has also contributed $15,000 soft money
in this campaign to Senator Ashcroft. Ken Lay has been personally interested
in the Ashcroft campaign. Our polling information is that Ashcroft is
currently leading 43 to 38 with an undecided of 19 percent.

Do we want to make a further soft money contriubtion of $10,000?

Joe


Daren/Carlos:

 I did not receive any more customer nominations. Therefore, the attached
file should not have changed from what was provided to Carlos last week.
Please let me know if you have any questions,

 Thanks, SCS x 33321
---------------------- Forwarded by Susan Smith/HOU/ECT on 12/20/99 11:23 AM
---------------------------

Vance L Taylor
12/17/99 04:07 PM
To: Susan Smith/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT
Subject: January Production Estimate

Susan,

Please see the attached file for January's production estimate.  This is
pretty much the final estimate except that I have calls in to Costilla &
Walter (Superior).  They both said that they would fax their nom once it was
complete.  Hopefully this will be by Monday.  If not, all of the traders have
reviewed the estimate and made their changes.  I feel pretty confident that
this is a good number.  However, if your should receive any noms before
Monday at noon, please update the file and send it to Carlos and Daren.

Thanks and Merry Christmas to you and yours!

vlt
x3-6353


Peeps-

Is there anything that we need to do to prepare for the Crutial Clutch Cargo
Gig that's about to occur?  FYI - I have an electricity adapter already, so
you won't need one if you don't already have one.  Jen, do you have any idea
what laundry facilities will be like?  I'd like to take the least amount of
clothing as possible to avoid having much luggage . . . but, I don't want to
stink for a week either.

Matthew R Gillaspie
Public Finance Associate
U S Bancorp Piper Jaffray
700 Walnut Street, Ste 1300
Des Moines, Iowa  50309
(515) 247-2353
mgillaspie02@pjc.com
 <<...OLE_Obj...>>
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not deposits or other obligations of or guaranteed by U.S. Bank
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Can I get your help on the following request?  We need to find out what receivables/payables for financial and physical deals we have outstanding with the attached counterparties that we don't plan on settling.

Can you please let me know if you are the right people to do this and how long it would take to get this information together?

Thanks
Kam

x3-5781

 -----Original Message-----
From: 	Ward, Kim S (Houston)
Sent:	Tuesday, January 29, 2002 4:26 PM
To:	Keiser, Kam
Cc:	Tycholiz, Barry
Subject:	RE: West Gas Roll Out Plan

It would be total exposure, physical and financial, for gas, and then power separately, if you have access to that.  If not, forget power.  The date would be as of our bankruptcy, (Dec. 2nd?).  What did we owe them that we are not going to pay them?  What is our future exposure (MTM) as of now? (For a summer 2002 swap, for example.)  and what do they owe us if we haven't been paid?  We just need to be aware of how things ended with Enron so we can discuss it when we knock on their door as UBS.

Let me know what else you need and thanks for your help.

Kim

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Tuesday, January 29, 2002 4:20 PM
To:	Ward, Kim S (Houston)
Subject:	RE: West Gas Roll Out Plan

Kim,

Are these physical or financial, or a combination.  Do you know the termination dates?  If not, I will try to get them from the confirmations group.

Thanks
Kam

 -----Original Message-----
From: 	Ward, Kim S (Houston)
Sent:	Tuesday, January 29, 2002 4:03 PM
To:	Keiser, Kam
Subject:	FW: West Gas Roll Out Plan

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Tuesday, January 29, 2002 10:03 AM
To:	Ward, Kim S (Houston)
Subject:	West Gas Roll Out Plan

Kim, as part of the roll out plans we will need a summary report of the close out values for these customers.  Can you coordinate with credit, including the utilization of an analyst ( if you can find one). to complete this list.

Cash means ( receivables, payables positions outstanding).
MTM ( the last MTM that we had with a company as we closed out).

The intent of compiling this information is to be able to position ourself for the appropriate conversation with this customer.... (if Enron owes them money, we should know that before we walk in the door).

Pls review and let's discuss....

BT  << File: westgascustlistrolloutplan.xls >>


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They have been drafted but await attorney approval before being sent to the
counterparty.  I will forward copy upon execution.

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


Good Morning.

WTC voicemail is down.  The link between WTC and Qwest is not working.   PGE has reported the problem at 5:50am and we are waiting to hear what's happening.

Quick reminder on what can occur when voicemail goes down and what your might experience when the link comes back up:

1) The message waiting light won't go off after you retrieve your messages. If this occurs just have the person lift the handset, hear dial tone and dial,  113. This will clear the message waiting light.

2) The message waiting light is not on and you could have a message.    Have employees check their mailbox just in case they are expecting critical messages.  The next voicemail will activate the message waiting light.

Please let me know if you have questions or concerns.


Attached is the new information for the Atlantic Basin Team.  Please let me know if you have any questions.

Thanks,
Kathleen - 52713


Thanks

 -----Original Message-----
From: 	Sever, Stephanie
Sent:	Wednesday, September 26, 2001 2:24 PM
To:	Ruscitti, Kevin
Subject:	RE: Canadian physical gas

Kevin,

I have updated and these will products will hit the Firm Trading Central Book.

Thanks,
Stephanie

 -----Original Message-----
From: 	Ruscitti, Kevin
Sent:	Wednesday, September 26, 2001 2:12 PM
To:	Sever, Stephanie
Subject:	Canadian physical gas

Stephanie,

Could you please give me access to trade physical canadian products on eol.

Thanks,

Kevin Ruscitti
x3-6320

P.S.  my id is ADM09529


4.	Ongoing caretaking cost of the plant (if left as is) is estimated to be $1.0MM per year.

----- Forwarded by Mark Diedrich/Houston/Eott on 10/25/2001 09:44 AM -----

	Mark Diedrich 10/24/2001 09:20 AM 	   To: Tracy Geaccone/Enron@EnronXGate, James Weitekamp/Enron@EnronXGate  cc: Thomas Meers/GPGFIN/Enron@Enron  Subject: Clean Fuels 2001 4th Qtr Fcst Net Income

Attached is our Clean Fuels 2001 4th Quarter Net Income Forecast.

Please note the following.

1.	Note that we do not have September actuals for the MTBE Plant or Storage Facility.  Topside entries are made each month to record the EOTT 		Activity & I have yet to acquire the Hyperion reports.

2.	Our Total Year Plant IBIT has improved from the previous forecast primarily due to revised Methanol Plant IBIT.

Exposures & Other Items

1.	Severance costs in 2002 are estimated to be $0.9MM.

2.	"Take or Pay" Oxygen cost in 2002 is estimated to be $2.8MM.

3.	Lease expense for the four year period from 2002-2005 will be $21.0MM.

4.	Ongoing caretaking cost of the plant (if left as is) is estimated to be $2.1MM per year.

5.	We have received a $250M bid to demo the Methanol Plant.

If you have any questions, please call Tom Meers @ 713-993-5604 or myself @ 713-9993-5608


B of A paid on our LC draw last Friday in the amount of $16,104,205.00.  The
amounts have been applied as follows:

*  $9,707,500  clears the exisitng receivable (trades which settled March 31,
2000).

*  Accrued interest in the amount of $41,705 was booked to the G/L.  (DR A/R
CR Interest Income).

*  The remaining $6,395,000 represents the termination value of the current
trades.  That amount has been handled as follows:

Currently on Schedule C -  $4,297,058
Unpaid Premium -              ($1,205,000)
Net Schedule C -                  $3,092,058

Termination Value -             $6,395,000
Net Schedule C -                 -$3,092,058
Total P&L      $3,302,942

Realized P&L -                    $2,302,942
Schedule C Retention -      $1,000,000

We can realize the additional income on Schedule C at anytime.

If you have any questions, please give me a call.  I am in London on the
Weather Desk (Cell: 44-788-134-1771) until Friday


print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/02/2000
01:10 PM ---------------------------

<Suzanne_Nimocks@mckinsey.com> on 09/29/2000 11:07:12 AM
To: Gary.hickerson@enron.com, jeff.shankman@enron.com,
mike.mcconnell@enron.com
cc:
Subject: Article on Cattle Industry

Please read the attached article.  Here is one more indication that there
might be a receptive audience in the meat industry to establishing more
transparency.  Look forward to speaking with you soon.
---------------------- Forwarded by Suzanne
Nimocks/HOU/NorthAmerica/MCKINSEY on 09/29/2000 11:16 AM
---------------------------
      Texas Request Tracking Memorandum

   TO:    Suzanne Nimocks/HOU/NorthAmerica/MCKINSEY@MCKINSEY
    CC:    CN=Ron Hulme/OU=HOU/OU=NorthAmerica/O=MCKINSEY@MCKINSEY
       CN=David Campbell/OU=DAL/OU=NorthAmerica/O=MCKINSEY@MCKINSEY
       CN=Bryan Fisher/OU=HOU/OU=NorthAmerica/O=MCKINSEY@MCKINSEY
       CN=Eric Harmon/OU=DAL/OU=NorthAmerica/O=MCKINSEY@MCKINSEY

  FROM:    Michelle Marcoulier/HOU/NorthAmerica/MCKINSEY
  DATE:    September 28, 2000
                                                               Req#:  464MM
      Article on Cattle Industry

      Hi Suzanne,

      Per your request, I have attached the article of interest.

      Please let me know if I can be of further assistance.

      Regards,
      Michelle

      (See attached file: Houston Chronicle Article on Cattle Feedlots.rtf)

Doclink to Request Form (R&I/Practice usage only)  (Document link: Database
'Suzanne Nimocks', View '($Inbox)')

+-------------------------------------------------------------+
| This message may contain confidential and/or privileged     |
| information.  If you are not the addressee or authorized to |
| receive this for the addressee, you must not use, copy,     |
| disclose or take any action based on this message or any    |
| information herein.  If you have received this message in   |
| error, please advise the sender immediately by reply e-mail |
| and delete this message.  Thank you for your cooperation.   |
+-------------------------------------------------------------+
 - Houston Chronicle Article on Cattle Feedlots.rtf


i was in for golf but i do not want to watch ernie lust after jerry for 18 holes of golf
can i be an the other foursome please

 -----Original Message-----
From: 	"Martinez, Ernesto Jr" <martier@cpchem.com>@ENRON [mailto:IMCEANOTES-+22Martinez+2C+20Ernesto+20Jr+22+20+3Cmartier+40cpchem+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, September 10, 2001 9:52 AM
To:	'siva66@mail.ev1.net'; bwdunlavy@yahoo.com; Quigley, Dutch; wolphguy@aol.com; jramirez@othon.com; MarkM@cajunusa.com; ras1119@hotmail.com; klyn@pdq.net
Subject:	RE:

I'm in (I think).
Note to Mark:  You are in 2nd place in the FFL beauty pageant behind Jerry.
It must be Jerry's f*ck me eyes that drove him over the edge.

-----Original Message-----
From: siva66 [mailto:siva66@mail.ev1.net]
Sent: Monday, September 10, 2001 9:37 AM
To: bwdunlavy@yahoo.com; Dutch.Quigley@enron.com; Martinez, Ernesto Jr;
wolphguy@aol.com; jramirez@othon.com; MarkM@cajunusa.com;
ras1119@hotmail.com; klyn@pdq.net
Subject:

once again, how about some golf this weekend?  kevin's a whore.

________________________________________________________________
Sent via the EV1 webmail system at mail.ev1.net


the ISO workspace, oasis.caiso.com, is working.  You can submit schedules.


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 01/26/2000
10:27 AM ---------------------------
Sandra R McNichols   01/26/2000 09:25 AM

To: Carolyn Gilley/HOU/ECT@ECT, Cheryl D King/HOU/ECT@ECT, Cathy L
Harris/HOU/ECT@ECT, Leslie Smith/HOU/ECT@ECT, Karl Stewart/HOU/ECT@ECT, Judy
Walters/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT, Mark D Thorne/HOU/ECT@ECT,
Christopher Hargett/HOU/ECT@ECT, Michelle Neville/HOU/ECT@ECT, Albert
Escamilla/HOU/ECT@ECT, Pamela Mitchell/HOU/ECT@ECT, Angela
Barnett/HOU/ECT@ECT, Amber Limas/HOU/ECT@ECT, Regina
Blackshear/Corp/Enron@ENRON, Eve Puckett/Corp/Enron@ENRON
cc:
Subject: Best Education Money Can't Buy

Below are some "points to ponder" that will help anyone with the daily
challenges we face getting through life, and choosing to enjoy life rather
than just going through the paces.

 And, it most cases, this type of wisdom will do more for our lives than any
degree could.
                     From one who is "still learning"......
------------------------------------------------------------------------------
------------------------------------------------------------------------------
-----------

I Have Learned...
  I've  learned....
         that the best  classroom in the world
         is at the  feet of an elderly person.

  I've  learned....
         that when you're in  love, it shows.

  I've  learned....
        that just one person  saying to me,
         "You've made my  day!" makes my day.

 I've  learned....
        that I feel better  about myself when
         I make others  feel better about themselves.

  I've  learned....
         that having a child  fall asleep in your
         arms is one of  the most peaceful
         feelings in the  world.

  I've  learned....
         that what we have done  for ourselves
        alone dies with us.  What we have done
         for others and  the world remains and
         is  immortal.

  I've  learned....
         that one sincere  apology is worth more
         than all the  roses money can buy.

  I've  learned....
         that words harshly  spoken are as difficult
         to  retrieve as feathers in a gale.

 I've  learned....
         that being kind is  more important than
         being  right.

 I've  learned....
         that you should never  say no to a
        gift from a  child.
  I've  learned....
        that I can always pray  for someone when
         I don't have the  strength to help him
        in some other  way.

  I've learned....
          that no matter how serious your  life
         requires you to be, everyone  needs a
         friend to act goofy  with.

 I've  learned....
        that sometimes all a  person needs is a
        hand to hold and  a heart to understand.

 I've  learned....
         that simple walks with  my father around
        the block on  summer nights when I was
         a child  did wonders for me as an adult.

 I've  learned....
         that life is like a  roll of toilet paper.
         The closer  it gets to the end, the
         faster it  goes.

 I've  learned....
         that we should be glad  God doesn't
         give us everything we  ask for.

 I've  learned....
         that money doesn't buy  class.

 I've  learned....
         that it's those small  daily happenings
         that make life so  spectacular.

 I've  learned....
         that once a  relationship is over,
        if you  experienced more smiles than
          tears, then it wasn't a waste of time.

 I've  learned....
        that under everyone's  hard shell is
         someone who wants to  be appreciated
         and  loved.

  I've  learned....
         never to humiliate  another person.
         Always give him an  honorable way to
         back down or out  of something and
         still save  face.

  I've  learned....
         that the Lord didn't  do it all in one
         day. What makes  me think I can?

  I've  learned....
         that if you are still  talking about
         what you did  yesterday, you haven't
         done much  today.

  I've  learned....
         that to ignore the  facts does not
         change the  facts.

  I've  learned....
         that when you plan to  get even with
        someone, you are  only letting that
         person continue  to hurt you.

  I've  learned....
        that it is best to  give advice in only
         two  circumstances; when it is  requested
         and when it is a  life-threatening
         situation.

  I've  learned....
         that a good friend is  the one who tells
        you how you  really look in your jeans.

  I've  learned....
        that the less time I  have to work with,
         the more things  I get done.

  I've learned. . .
      That poetry is not just words but feelings

 I've learned. . .
      helping people in need is the best thing we
      ever could do.

 I've learned , , .
      life is not what you acheived, or winning
      but the many times you have lended an ear,
      a hand, and a heart.

 I've learned,
      that no matter what education you attain,
     how many diplomas you gained.
      doesnt mean you can understand everyhting.

 I'ver learned,
      that the more pain and hurt you experience
      the more knowledgeable and understanding you are.

 I've, learned. . .  I am learning


Does anyone have a template form of letter that we can circulate to the legal group to deal with the adequate assurance requests that seem to be coming in more frequently?

Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-8537 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
carol.st.clair@enron.com


===================================
       from Gilder Publishing
         THE FRIDAY LETTER
e-mailed weekly, for friends and subscribers
===================================
            | http://www.gilder.com/ |

Issue 41.0/January 18, 2002

HEADLINES:

* The Week/ Bull or Bear in 2002?
* Friday Feature/ 2002 hangs on these
* Friday Bonus/ Internet Traffic Still Tripling
* Storewidth Update
* Poll Question/ Bull or Bear in 2002?
* Readings
* Subscribe / Unsubscribe Information

 ~~~~~~~~~~
THE WEEK/ Bull or Bear in 2002?
By Jude Wanniski

When I advised against holding equities early in 2001, with the Dow Jones
Industrial Average at 11,000 or so, my bearishness pivoted on the monetary
deflation I knew almost certainly the incoming George W. Bush
administration would not address. The economic players assembled by the
President had very definite ideas on what they planned to do, but ending
the monetary deflation could not have been in their plans. They did not
even know of its existence.

My moderate bullishness for 2002 as a whole is based solely on my belief
that the administration has been impressed that neither their demand-side
tax cuts (putting money into people's pockets) nor Federal Reserve
Chairman Alan Greenspan's eleven cuts in overnight interest rates seems to
be working as intended. In addition, I strongly suspect there are now
enough people  --  who never did have great faith in that program  --  in
a position to surface with fresh ideas. If the economy is to emerge from
recession, fresh ideas will be needed. All the happy talk we hear about
the economic rebound that lies ahead  --  in the first or second or third
quarter  --  comes from many of the same people who a year ago believed
the tax cuts and rate cuts would have the stock market and economy booming
by now. If they do not understand the mechanics of a monetary deflation,
their opinions will not be terribly useful. Their "fresh" ideas will be no
better than those that failed if they do not see that the dollar has
become too strong relative to gold and commodities and must be devalued by
roughly 20%.

Investors are not really interested in whether the economy comes out of
recession or not. They want to know if the value of financial assets will
rise or fall, and then make their investments accordingly. It is possible
for the stock market to decline even as the real economy increases in the
production of goods and services. In other words, the statistics about
Gross Domestic Product that govern the definition of recession may very
well rise at some point in 2002, but without creating any excitement on
Wall Street. Remember: one of the biggest years for GDP in the last
century was 1933, a really dreadful year, but statistically a smidgeon
better than 1932. Think of it this way: If economic output falls 50% in
one calendar year and then grows 50% in the following year, there is not
much reason for celebrating. If your wage falls from $1,000 per week to
$500 per week (-50%), you will not really be that happy if in the
following year it rises to $750 (+50%).

The numbers we are looking at are not as bad as that, but if policymakers
do not deal with the monetary deflation sooner rather than later, the
DJIA's valiant struggle to stay above 10,000 will be fruitless. If the
dollar/gold price hangs around $275  --  exactly where it was before the
Fed began reeling off those eleven cuts in the fed funds rate  --  the
DJIA will have to give up a thousand points during the year. Early in
2001, with gold at $265, we reckoned the DJIA would find itself around
8500 by the end of March 2002. It got to that level earlier  --  in
September 2001  --  but only because of the increased risks associated
with the terrorist attacks. We did become bullish that the DJIA would
rebound as those risks dissolved, but noted we would still confront the
deflation, limiting any upside. Our primary job is to get the direction of
the markets right, not to pinpoint the various equity indices. But we
certainly would not be surprised to see the DJIA at 8500 three months from
now if there is no policy change.

The first online issue of Jude Wanniski's Supply Side Investor posted
yesterday for subscribers. If you have yet to experience Jude Wanniski,
then Do Not Pass Go and Do Not Collect $200, Go Straight to
https://www.gilder.com/supplysideinvestor/ for a Special, Half-Off
Introductory Offer.

Also, if you haven't already, make certain you read "The Deflation
Monster," http://www.gilder.com/AmericanSpectatorArticles/Deflation.htm
=-=-=-=-=-=-=-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-=-
Profit From The Market Recovery With The Best Names In Technology. Since
October 1st, all companies in the Hager Technology portfolios are up an
average 67%. Since 1986, the Hager portfolios have earned an annualized
return of 30.8%, while outperforming the Dow by 1530%. Visit
http://www.fredhager.com/ to learn more.
~~~~~~~~~~~~~~~~
FRIDAY FEATURE/ 2002 hangs on these
Rich Karlgaard, Forbes Magazine

Spring thaw, anyone? We all hope. But in the spirit of "we can't get
better until we know what's wrong with us," let us lay the patient out on
the table and behold the odd, even contradictory symptoms of malaise:

*The U.S. appears to be awash in liquidity. At year's end its people and
institutions held a record $4.3 trillion in cash and money market funds.
Yet the economy is hip deep in its worst downturn since 1982.

*Capital spending and investment have slowed to a trickle, yet consumer
spending remains oddly robust.

*The Federal Reserve in 2001 spiked the money supply by 10%. Yet the
dollar has remained curiously strong against other currencies and
practically every commodity.

What the heck is going on? Is our economic sickness a result of
contraction or deflation? Huge question. The answer policymakers decide
upon may determine the outcome of 2002. Experts can argue the facts either
way -- and they have. Most supply-siders, such as Steve Forbes, George
Gilder, Jude Wanniski, David Malpass and Brian Wesbury, as well as a few
exotics such as Paul Krugman, have made the case for deflation. Others,
including Milton Friedman, James Grant and the Bush Administration, say
the slowdown is owed to a good, old-fashioned contraction resulting from
loose money and overexpansion during the 1995-2000 champagne years...

Whether the U.S. economy is afflicted principally by a contraction or
deflation is, literally, a trillion-dollar question. If it's contraction,
the economy will recover on its own, without further Fed intervention. In
fact, it may have begun to do so already. But if the problem is deflation,
as I suspect it is, look out. We are in for a longer siege -- for as long
as it takes the Fed to counter the deflation.

"What else?" you ask. Open the spectrum. Get the full story from our good
friend Rick Karlgaard on Forbes.com,
http://www.forbes.com/forbes/2002/0121/031.html?_requestid=56991. Also,
Richard has just accepted our invitation to attend the Storewidth 2002
Conference, http://www.storewidth.com/conferences/. Stay tuned for further
exciting developments.
~~~~~~~~~~
GOING, Going, going, but not quite gone yet ...
We still have a limited number of tapes and CDs from our 2001 Conferences
--  Dynamic Silicon Conference, Powercosm 1 and 2, Storewidth, and the
Gilder Technology Research Conference.  Each set has 10 to 12 tapes and
covers three days of conference material. Go to
https://www.gilder.com/tapes and check out the great deals.
~~~~~~~~~~
FRIDAY BONUS/ Internet Traffic Still Tripling
Neither a weakening economy nor the U.S. terrorist attacks has done
anything to stunt the growth of traffic crossing the Internet, according
to a Larry Roberts, one of the Internet's chief original architects and
now chief technology officer for San Jose, Calif.-based Caspian Networks.
In fact, traffic continues to triple each year,
http://www.newsbytes.com/news/02/173707.html

Review Dr. Roberts' Traffic Analysis presentation and get all the facts
and figures (PowerPoint software required)
http://www.caspian.com/library/presentations/traffic/Internet_Traffic_011602.ppt

~~~~~~~~~~
STOREWIDTH UPDATE
Check it all out at  The Storewidth 2002 conference is less than10 weeks
away and the high-profile list of speakers continues to grow. Drop by
http://www.storewidth.com/conferences/ to check out the agenda and see
what about this conference is attracting the most revered minds in storage
and networking from all corners of the globe. In this past week, alone,
we've added a phenomenal group of additional speakers, like Listen.com
Founder and Chairman, Rob Reid and Mike Luby of Digital Fountain, along
with representatives from Compaq, Extreme, Gadzoox, Corvis and Adaptec.
Our agenda has, in fact, attracted so much attention, that George was
forced to tack a BONUS day onto the conference and the father of the
Ethernet, Bob Metcalfe, has signed on to MC the event! It doesn't get much
better than this.

Remember, the venue is intimate and seating is limited. Don't be shut out
of this not to be missed event. Register today at
http://www.storewidth.com/conferences/register.php.
=-=-=-=-=-=-=-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-=-
Gilder.com Poll: The fall of Enron is:
A scandal in the making: 56%
Just a business failure: 44%

Up Next: Bull or Bear in 2002?
Let us know at http://www.gilder.com/

~~~~~~~~~~~~
READINGS
Conexant Powers Ahead
http://www.nytimes.com/reuters/technology/tech-tech-conexant-earns.html

Shrugging Oracle's Software
http://news.cnet.com/news/0-1007-200-8507929.html?tag=mn_hd

Sun Micro's McNealy
http://news.cnet.com/html/ne/vs/0-1004-200-8247803.html?tag=st.ne.0-1004-200-8247431.vs.0-1004-200-8247803

Microsoft's HomeStation
http://news.cnet.com/news/0-1006-200-8495172.html?tag=mn_hd

Intel Report Signals Recovery
http://www.newsfactor.com/perl/story/15813.html

Qualcomm's gpsOne Technology
http://www.pcworld.com/news/article/0,aid,80085,00.asp

LSI Exits
http://www.informationweek.com/story/IWK20020116S0004

Dubious On Dell
http://www.businessweek.com/bwdaily/dnflash/jan2002/nf20020115_3976.htm

Broadband Dreams
http://www.cei.org/gencon/016,02297.cfm

Foliage-proof Fixed Wireless
http://news.cnet.com/news/0-1004-200-8505683.html?tag=cd_pr

Fixed Wireless Getting Popular
http://www.internetnews.com/wireless/print/0,,10692_954801,00.html

Nokia's Jorma Ollila
http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3DLAO0IWC&live=true&tagid=ZZZPCGI2B0C&subheading=telecoms

Handhelds Betting On Wireless
http://news.cnet.com/news/0-1006-200-8492718.html?tag=mn_hd

MSFT Getting Serious On Security
http://www.computerworld.com/storyba/0,4125,NAV47_STO67461,00.html

Black Hawk Downloaded
http://www.nytimes.com/2002/01/17/technology/circuits/17VIDE.html
-=-=-=-=-=-=-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

FRIDAY LETTER STAFF
~~~~~~~~~~~~~~~~~~~~~~~
Dave Dortman (ddortman@gilder.com)
John Hammill (jhammill@gilder.com)
Aaron Charlwood (acharlwood@gilder.com)

CONTRIBUTORS THIS WEEK: Mark Ziebarth, John Hammill, Dave Dortman, Sandy
Fleischmann, Aaron Charlwood

ADVERTISING INFORMATION
~~~~~~~~~~~~~~~~~~~~~~~
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friends of Gilder Publishing, including industry leaders, financial
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contact Brian Cole, VP Business Development at bcole@gilder.com,
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FEEDBACK AND PROBLEMS
~~~~~~~~~~~~~~~~~~~~~
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You can also contact us via:
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Gilder Publishing. If someone you know would enjoy it, please feel free to
forward a copy.

To SUBSCRIBE please visit http://www.gilder.com/

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To unsubscribe send a blank email to leave-gilder-technology-report-661837S@earth.lyris.net


1.  If we have a US counterparty we insert the appropriate choice.

2.  Revisions to the CFTC Rules have done away with the  "Eligible Swap
Participant"  rules for energy commodities (they would still apply to
agricultural products).  The rules are still pretty similar however, and the
current lingo is now "Eligible Contract Participants".  See our revised form,
attached.

	Karen A Cordova@EES
	04/04/2001 04:33 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Marianne Castano/HOU/EES@EES
		 Subject: swaps

Hi Tana --

I have a couple of questions concerning swaps that I hope you can answer.

1. With respect to Part 2.  Tax Representations. to the Schedule, is it
standard to insert into the Schedule the information from Form #3 when
dealing with a U.S. Counterparty?

2. Part 5.  Other Provisions.  Is the following point the most current and
also a standard provision in the Schedule when dealing with a U.S.
Counterparty?
(h) Eligible Swap Participant.  It constitutes an &eligible swap participant8
as such term is defined in Rule 35.1(b)(2) of the Commodity Futures Trading
Commission, 17 C.F.R. o 35.1(b)(2) (1993).

Thanks alot for your continued support of EES Legal.  Thanks Karen


Attached please find referenced list.  No european power products approved
until further notice.


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

Wednesday: The CRB Index is falling 0.54 points to 189.22. The
US Dollar Index gained 0.02 points to 119.42.

The Dow Industrials trended lower by 30.59 points, at 9653.39, while
the S&P 500 trended lower by 6.51 points, last seen at 1083.51. The
Nasdaq Composite edged lower 25.79 points to 1812.73.
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E X T R E M E   M A R K E T   C O M M E N T A R Y
_____________________________________________________________________

The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

Stock indexes closed lower on Wednesday amidst heavy institutional
selling by Goldman Sachs and J.P. Morgan. Trading volume was thin,
which may have exaggerated some of today's losses. Nevertheless, both
indexes posted new lows for the month thereby leaving the doors open
for additional weakness into mid-February. The NASDAQ closed down
25.80 points at 1812.72 and below the 38% retracement level of the
September/January rally. If the decline continues, November's
reaction low crossing at 1782.48 marks the next level of support. The
March S&P 500 index also closed lower on Tuesday and below the 38%
retracement level of the September/January rally crossing at 1087.97.
The door is open for a possible test of the late-October low crossing
at 1060.60 later this month. March closed down 5.70 points at
1083.30.

The Dow posted a quiet inside day with a lower close on Wednesday.
Losses were limited as Cisco Systems rekindled investor confidence in
U.S. companies with word that second- quarter results will exceed
current estimates. However, investors remain very nervous about
current stock valuations amidst suspicions over corporate accounting
irregularities. Momentum indicators remain bearish signaling that
additional weakness is likely on Thursday that could lead to a test
of last week's low crossing at 9529.40. If this support level is
broken, it would open the door for a possible test of long-term fib
support crossing at 9318.20 later this month.

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

March T-bonds posted an inside day with a lower close on Wednesday
amidst a relatively quiet session on Wall Street. Additional pressure
came from lower than expected participation of an auction of 10-year
notes. March continues to consolidate below January's high crossing
at 104-11. If this resistance level is cleared, January's high
crossing at 105-06 is a potential target later this month.
Stochastics and a number of other short-term momentum indicators are
bullish but diverging, which is often a precursor to a top and trend
change.

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

The CRB index posted a key reversal down on Wednesday as it was
pressured by weakness in energies, grains, hogs, bellies and some
precious metals. Wednesday's rally was halted dead in its tracks
following a spike of January's downtrend line crossing near 190.50.
The CRB's failure to close above this resistance level and the
previous reaction high crossing at 190.29 is short-term bearish and
leaves the door open for additional weakness for the balance of the
week. At the same time, stochastics and the RSI have turned bullish
hinting that last week's low might have marked a mid-winter low.

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

The energy markets closed lower on Tuesday following this week's
bearish inventory reports and sluggish demand. Additional pressure
came from a report out of Kuwait that it will resume oil exports from
its northern fields just one week after an explosion shut down one
third if its output.

March crude oil closed lower for the third day in a row thereby
increasing the odds that last Friday's high marked the upper boundary
of a late-winter trading range. Additional weakness later this week
would turn a number of short-term momentum indicators neutral to
bearish thereby signaling that sideways to lower prices might be
possible into mid-February. It remains unlikely that March will
breakout above the upper boundary of this winter's trading range
crossing at 22.50 in the near future.

March heating oil closed lower on Wednesday as it extended this
week's sell off from last Friday's high. This week's bearish
inventory report along with bearish extended weather forecast for the
high-demand regions of the U.S. continues to weigh on prices. March
heating oil has fallen back into January's trading range and in doing
so has turned a number of short-term momentum indicators neutral to
bearish. I would not be surprised to see March heating oil breakout
below this winter's trading range as it posts a new contract low
later this month.

March unleaded gas closed sharply lower on Wednesday retracing just
over 50% of last week's rebound since Monday. Rising inventories and
weak demand continue to offset the approach of seasonal trend changes
in the market. Stochastics and the RSI turned bearish with today's
weakness signaling that sideways to lower prices are possible during
the first half of February.

March Henry Hub natural gas closed slightly higher due to short
covering ahead of this afternoon's AGA inventory report on Wednesday.
This afternoon's report showed a draw of 82 billion cubic feet of
natural gas taken from storage, the low end of expectations. This
could limit if not pressure prices on Thursday as the market still
has over 1 trillion cubic feet of natural gas hanging over the
market.

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

The March Dollar posted a potential downside reversal on Wednesday
after early strength tied to short covering faded into the close.
However, the near mid-range close leaves the door open for sideways
trading on Thursday. March needs to close below Monday's low crossing
at 118.96 to confirm a breakout below January's uptrend line. Until
then, I caution anyone against becoming too bearish despite the
overbought condition of the market.

The March Swiss Franc remained within Tuesday's trading range but
closed higher on Wednesday due to short covering. Today's close above
last week's high crossing at .5898 increases the odds that a double
bottom with December's low was posted last week. However, closes
above this winter's downtrend line crossing near .6010 are needed
before this can be confirmed. This week's rebound has turned the
daily ADX bullish signaling that additional short covering is
possible. Today's mid-range close leaves the door open for sideways
trading on Thursday. I would caution anyone from becoming too bullish
this market until this winter's downtrend line has been broken.

The March Canadian Dollar closed sharply lower on Wednesday, which
led to a test of January's uptrend line crossing near .6230 and
coincides with previous support. Closes below .6230 would signal an
end to this winter's short covering bounce while opening the door for
sideways to lower prices into mid-February. This week's setback has
turned stochastics and the RSI bearish thereby increasing the odds
for sideways to lower prices near-term.

The March Japanese Yen closed slightly higher on Wednesday as it
consolidated some of Tuesday's loss. The March yen is at a crossroads
and will need to close above last fall's downtrend line crossing near
.7600 or below last week's low crossing at .7416 to clear up
near-term direction in the market. If this winter's decline resumes,
weekly support crossing at .7371 is March's next target.

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

April gold closed slightly lower on Wednesday amidst profit taking.
Early strength was due to spillover buying interest due to a
breakdown in investor confidence over the valuation of equity prices.
However, a relatively quiet trading day on Wall Street triggered a
round profit taking following April's break out into new contract
highs on Tuesday. Aprils could spend the balance of this week
consolidating above broken resistance crossing at 297.50. If the
rally resumes later this month, weekly resistance crossing at 322 is
April's next target. Momentum indicators are bullish but becoming
overbought warning bulls that a rebound in the equity markets could
trigger a round of long-liquidation as skittish investors rotate
capital out of gold and back into stocks.

March silver posted a downside reversal on Wednesday. Overnight
strength fell just short of testing the 50% retracement level of
January's decline crossing at 4.492. However, a lack of panic selling
in the equity markets early in the day session triggered a round of
profit taking that extended into the close. Wednesday's low-range
close leaves the door open for a steady to weaker opening for
Thursday. A lower close on Thursday would signal that the initial
rebound off last week's low has likely come to an end.

March copper closed lower on Wednesday as profit taking continues
following last week's dramatic run up. March's inability to sustain a
breakout above November's high crossing at 73.70 along with a number
of short-term momentum indicators turning neutral to bearish from
overbought levels hints that a broad double top might be in place.
Wednesday's mid-range close leaves the door open for sideways trading
on Thursday as March might try to consolidate some of this week's
losses.

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

March corn posted a new contract low on Wednesday following reports
that Malaysia bought at least one cargo of Chinese corn for April
shipment. The renewed Chinese exports combined with sluggish U.S.
exports triggered another round of fund selling amidst a lack of
buying interest. A short covering bounce ahead of the close allowed
March corn to close at long-term support crossing at 2.04 1/4. If the
decline continues, psychological support crossing at 2.00 is March's
next target later this month. Pre-report sales exports for Thursday
range from 750K to 950K metric tons, which is still well below the
pace needed to reach this year's export projection. Fears that the
USDA will be forced to lower its export projection possibly on Friday
also weighted on prices today. Unless the U.S. Dollar falls making
U.S. corn more competitive with other feed grains on the world market
and or export demand sees a significant increase in the near future,
corn prices will continue to decline until increased demand surfaces.

March wheat posted an inside day with a lower close on Wednesday due
to spill over weakness from corn and soybeans. It's the same old
story the bears continues to beat the strong U.S. Dollar has made
U.S. wheat less competitive on the world market resulting in sluggish
export demand. Today's low-range close leaves the door open for
additional weakness on Thursday if export sales prove disappointing.
December's low crossing at 2.77 marks the next level of support.
Closes below this low could lead to an eventual test of the contract
low crossing at 2.73 later this winter. Pre-report sales estimates
range from 450K to 600K metric tons. March wheat will need to close
above January's downtrend line crossing near 2.86 to temper the
near-term bearish outlook in the market.

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

March soybeans closed sharply lower on Wednesday erasing most of this
week's short covering gains. Today's sell off was triggered by a lack
of fresh market friendly news, the start of harvest in Brazil and
China's unwillingness to postpone its March 20th deadline for
implementation of GMO policies regarding soybean imports. While a
short covering bounce late in the day tempered some of today's
losses, the door remains open for a likely test of last week's low in
the near future. Traders are looking for tomorrow's export sales
report to come in between 600K to 800K metric tons. While there is
some talk that the USDA might raise its export projection for this
year in Friday's report, bearish traders are quick to say that any
increase has already been factored into prices. Until March soybeans
can close above the reaction high crossing at 4.39 1/2, the February
low has not been confirmed.

March soybean meal posted a key reversal down on Wednesday as it
filled the gap crossing at 147.90 in early trading. A short covering
bounce ahead of the close tempered some of today's gains leaving the
door open for sideways trading on Thursday. Pre-report export sales
estimates range from 75K to 140K metric tons. Today's near mid-range
close leaves the door open for sideways trading on Thursday however;
trading is likely to be subdued ahead of Friday's supply/demand
report. Stochastics and the RSI are bearish signaling that sideways
to lower prices are possible during the first half of February.

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

April hogs closed lower on Wednesday pressured by steady to lower
cash bids and soft packer demand. Light markets tempered today's sell
off as April consolidated above broken resistance crossing at 61.90.
Nearby cash fundamentals continue to look sloppy with a weak tone in
pork cutout values and shrinking packer margins. Favorable weather
conditions are also a potential bearish factor. If the rally
continues, weekly resistance, crossing at 63.60 is a potential target
later this week. At the same time, both daily and weekly stochastics
are overbought hinting that a major top appears to be near. However,
closes below initial trendline support crossing near $61 are needed
before this is confirmed.

April cattle closed higher on Wednesday and above the 75% retracement
level of last year's decline crossing at 76.00. If the rally
continues, the bottom of last summer's trading range crossing at
77.10 is a target later this month. Today's rally was triggered by
higher boxed beef values. Cash bids have not be established however,
bullish traders are hoping to see $72 bids later this week.
Wednesday's high-range close leaves the door open for additional
gains on Thursday.

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

March coffee closed slightly higher on Wednesday due to light short
covering following a gap lower opening, which was triggered by origin
and fund selling. However, light trade buying after the opened
triggered a short covering bounce that lasted into the close. March
is at a crossroad and needs to close above 46.20 or below 44.00 to
clear up near-term direction in the market. Momentum indicators are
very oversold hinting that a short covering bounce might be needed
soon.

March cocoa posted an inside day with a higher close due to short
covering that left Tuesday's downside reversal unconfirmed. Closes
above January's high at 1422 would negate the possibility that a
double top is forming while opening the door for a possible test of
weekly resistance crossing at 1508 later this winter. Stochastics are
still bullish signaling that sideways to higher prices are possible
near-term. March will need to close below last week's low crossing at
1327 to temper the bullish outlook in the market.

May sugar closed higher on Wednesday but below mid-range. Early
strength fell short of testing broken support marked by last
October's low crossing at 601. Until May can post multiple closes
above this broken support level thereby tempering the bearish outlook
in the market, the door remains open for additional weakness later
this month and a possible test of weekly support crossing at 5.48.
Momentum indicators are oversold but remain bearish signaling that
additional weakness is possible near-term.

March cotton posted a quiet inside day with a slightly higher close
on Wednesday as the market waits for near-term direction following
the release of Thursday's export sales report. A friendly report on
Thursday could renew March's rally off last week's low that could
lead to a test of January's high crossing at 38.50 later this month.
Barring a major surprised in tomorrow's report, upside potential
appears limited ahead of Friday's supply/demand report. Cotton will
likely remain range bound until the market gets a better handle on
this year's planted acreage.

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I N O   N E W S
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Euronext Launching Sunflower Seed Futures
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Strong NYMEX Statement Opposing Futures Transaction Tax
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Francioni Taking Over From Fischer As SWX Chairman
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London's IPE Begins 2002 With Record Volumes
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OneChicago Announces First 30 Single-Stock Listings
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Deutsche Borse Continues To Expand European Stocks Sector
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E X T R E M E   F U T U R E S
____________________________________________________________________________

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

WINNERS

YGG2   Mini NY Gold Feb 2002                         304      12.9  +4.43
NGM4   Henry Hub Natural Gas Jun 2004              2.988     0.102  +3.39
LBU2   Random Length Lumber Sep 2002              286.90      8.00  +2.87
PNH2   Propane Mar 2002                           0.3060    0.0085  +2.86
OH2    Oats Mar 2002                             206 3/4     4 1/4  +2.10
CCZ3   Cocoa Dec 2003                               1212        17  +1.42
KCZ2   Coffee 'C' Dec 2002                         54.70      0.65  +1.20
XLG2   Live Cattle Feb 2002                        74.60      0.88  +1.19
KIJ2   Kilo Gold Apr 2002                            300       3.5  +1.18
GCZ4   Gold Dec 2004                                 321       3.4  +1.07

LOSERS

VZU2   Corn (a/c/e) Sep 2002                         210   -15 3/4  -6.98
BOH2   Soybean Oil Mar 2002                        15.25     -0.42  -2.68
LHG2   Lean Hogs Feb 2002                         55.600    -1.400  -2.46
HUH2   New York Harbor Unleaded Gasoline Mar 20    0.5710   -0.0142  -2.43
AGM2   Silver 1,000 oz. Jun 2002                   4.290    -0.100  -2.28
PBG2   Frozen Pork Bellies Feb 2002               74.900    -1.675  -2.19
HOH2   Heating Oil Mar 2002                       0.5279   -0.0104  -1.94
RAH2   South African Rand Mar 2002              0.084500 -0.001425  -1.66
CLH2   Light Sweet Crude Oil Mar 2002              19.78     -0.32  -1.59
AFH2   Aluminum Mar 2002                          0.6455   -0.0090  -1.38

FREE 2002 Commodity Reference Calendar
http://www.ino.com/specials/rjo/calendar.html
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E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
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WINNERS

ASW    A.C.L.N. LTD                                 9.85      1.63  +19.83
NXTL   NEXTEL COMMUNIC'NS'A'                      6.0200    0.9700  +19.21
KMX    CIRCUIT CITY STRS-CARMAXGRP                 24.41      3.86  +18.78
CIP    AT&T CAPITAL 8.25% 'PINES'                  21.75      3.20  +17.49
CIC    AT&T CAPITAL 8.125%'PINES'                  21.65      3.10  +17.03
CYMI   CYMER INC                                 41.3700    5.9400  +16.62
UVN    UNIVISION COMMUNIC 'A'                      39.56      5.52  +16.22
PC     PEREZ COMPANC S.A.                          10.73      1.41  +14.92
ASTSF  ASE TEST LTD                              12.9500    1.6000  +14.00
AKSY   AKSYS LTD                                  6.8600    0.8300  +13.70

LOSERS

CRN    CORNELL COMPANIES INC                        9.96     -7.49  -42.85
OVER   OVERTURE SERVICES INC                     17.9200  -12.3600  -40.63
WEBX   WEBEX COMMUNICATIONS INC                  17.0500   -6.9300  -28.71
MCAF   MCAFEE.COM CORP'A'                        16.5600   -4.6200  -21.73
CPN    CALPINE CORP                                 6.80     -1.85  -21.14
PCSA   AIRGATE PCS INC                           10.6300   -2.7600  -20.13
ONES   ONESOURCE INFORMATION SERVICES             8.0000   -1.8600  -18.98
IONA   IONA TECHNOLOGIES ADR                     15.5000   -3.5000  -18.77
ASE    AMER SCIENCE & ENGR                         12.75     -2.99  -18.70
MCIT   WORLDCOM INC-MCI GROUP COMM                9.0600   -1.9300  -17.53
_____________________________________________________________________

T H A N K   Y O U
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FYI.  Sorry to those of you who already received this from Nancy.

----- Forwarded by Sarah Novosel/Corp/Enron on 12/28/2000 05:48 PM -----

	"Nancy Pickover" <npickover@bracepatt.com>
	12/28/2000 04:19 PM

		 To: <gfergus@brobeck.com>, <Christi.L.Nicolay@enron.com>,
<donna.fulton@enron.com>, <marcie.milner@enron.com>, <mary.hain@enron.com>,
<smara@enron.com>, <snovose@enron.com>, <thane.twiggs@enron.com>
		 cc:
		 Subject: Forward Contracting Docket

Please see attached memorandum.  Discussions are set to continue next
Wednesday at FERC beginning at 10:00 am.

 - PL01-2.1


Please forward the following update to those whom I inadvertedly left out.
Thank you.

List of November 20, 2001, Agenda Items

Consent Items:
E-4, E-6, E-7, E-8, E-9, E-10, E-11, E-14, E-17, E-20, E-23, E-27, E-28, E-29, E-32, E-33, E-36, E-38, E-44, G-3, G-5, G-7, G-13, G-14, G-15, G-16, H-1, H-2, H-3, C-1, C-2, C-3, C-7, C-8 and C-9

Discussion Items:
E-3, (E-5, E-26 and E-47 together), E-12, E-13, E-15, E-22, E-24, E-35, E-42, E-43, E-46, (G-8, G-9, G-10, G-11 and C-4 together) and C-5

Stricken Items:
E-2, E-16, E-31, E-40 and C-6


Per our conversation on coordination of our efforts on California and other
jurisdictions, we have developed the following training program:

1.    Anti-trust -- we have completed anti-trust training in Houston for
traders and have scheduled it in Portland and Calgary.

2.    Sales Practices -- this training has been completed in Portland and is
being scheduled in Houston and Calgary.

3.    Anti-manipulation -- this training has been completed in Portland, but
needs to be expanded to cover local law manipulation issues.  It also needs
to be scheduled in Houston and Calgary.

Also, the above training needs to be supplemented with training on local
power pool rules.  There is a similar program being prepared in London.  A
meeting is being scheduled so we can discuss these matters further.

Mark Haedicke