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THURSDAY, FEBRUARY 14, 2002

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TOP STORIES

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Michigan State Senate Votes to Ban New Drilling under Great Lakes

Feb 13, 2002 - Canadian Press

The Michigan state Senate voted Wednesday to ban new drilling for oil and natural gas from the shoreline of the Great Lakes.

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Ottawa To Discuss Opening Coast To Oil Drilling

Feb 13, 2002 - E&E Publishing

Ottawa regulators said this month they are prepared to consider a proposal to remove the long-standing moratorium on offshore oil and gas drilling in British Columbia if Canadian Premier Gordon Campbell makes the request.

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Putin, Ukrainian official meet amid debate over alternative gas pipeline to Europe

Feb 13, 2002 - Associated Press

Russian President Vladimir Putin met Wednesday with Ukraine's presidential chief of staff in the Kremlin amid heated debate over a proposed pipeline to transport Russian natural gas to Europe that conspicuously bypasses Ukraine.

Press Release

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Excelergy and Algorithmics Combine to Deliver Advanced Trading and Risk Management System to Energy Industry

TORONTO, Ontario and LEXINGTON, Massachusetts (February 13, 2002)

Excelergy Corporation, the world's leading provider of high performance software products in the global energy and utility industry, and Algorithmics Incorporated, a leader in enterprise risk management with more than 120 global clients in 26 countries, today announced a strategic alliance that will deliver the industry's most advanced energy trading and risk management system to energy traders and generators.

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SOLARC NAMES DALE ST. DENIS AS VICE PRESIDENT OF PRODUCT MARKETING

TULSA, Okla. (February 11, 2002)

SolArc, Inc., a leading provider of enterprise trade management solutions for global commodity businesses, announced today that Dale St. Denis joined the company as vice president of product marketing.

Enron Debacle

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Enron Executives Will No Longer Handle Company's Retirement Plans

By Dale Lezon, Houston Chronicle, Feb. 13

Control of Enron's retirement plans will be taken from company executives and given to an independent fiduciary appointed by the Labor Department under an agreement reached Tuesday.

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Enron Executives Profited by Unloading Stocks as Units Failed

By Gregg Fields, The Miami Herald, Feb. 12

Some of Enron's top executives made millions of dollars selling the company's stock, even as the company divisions they headed posted massive losses.

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Documents Show Enron Executives Repeatedly Briefed Board on Activities

Chicago Tribune, Feb. 13

Enron Corp. executives repeatedly briefed the company's board of directors about the suspect partnerships and murky accounting that later brought down the energy giant, internal Enron documents show.

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Former Enron Chairman Takes Beating from Senators but Pleads Fifth at Hearing

By Patrice Hill, The Washington Times, Feb. 13

Former Enron Corp. Chairman and CEO Kenneth L. Lay, one of Congress' most generous benefactors over the years, looked like a wayward child being forced to endure the scolding of a dozen schoolteachers.

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Six Directors to Resign from Enron's Board

By Katie Fairbank, The Dallas Morning News, Feb. 13

Six directors of Enron Corp. will resign from the bankrupt company's board within 30 days, following in the footsteps of former chairman and chief executive Kenneth Lay.

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Creditors of Enron Subsidiary Want Changes in Cash-Management System

By Eric Berger, Houston Chronicle, Feb. 13

A U.S. bankruptcy judge is expected to rule today on whether Enron can continue its practice of collecting money from its subsidiaries and distributing it as needed.

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Enron Executive to Discuss Now-Famous Warning Memo before Congress

By Patty Reinert, Houston Chronicle, Feb. 13

Sherron Watkins, the Enron vice president who in August told Chairman Ken Lay she feared their company might "implode in a wave of accounting scandals," will testify on Capitol Hill Thursday, her lawyer said.

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Former SEC Chairmen Warn Congress about Depth of Enron-Type Problems

By Frank James, Chicago Tribune, Feb. 13

Five former chairmen of the Securities and Exchange Commission warned Congress Tuesday that some of the problems revealed by Enron Corp.'s collapse are pervasive in corporate America, requiring new legislation, tougher government and private-sector oversight, and greater integrity in the accounting profession.

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Enron Put Markets At Risk, American Stock Exchange Chief Says

By Patrice Hill, The Washington Times, Feb. 13

The chairman of the American Stock Exchange said yesterday the Enron scandal was undermining confidence on Wall Street and called for swift action to punish wrongdoers and adopt legislation and regulations to prevent future abuses.

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Volcker sought Enron funds for accounting board-memo

By Susan Cornwell, WASHINGTON, Feb 13 (Reuters)

Former Fed Chairman Paul Volcker called the chairman of Enron Corp. last year to solicit a $500,000 contribution for the foundation of the International Accounting Standards Board, according to a memo released by a senior Democratic senator on Wednesday.

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FACTBOX-Congress hearings schedule on Enron/Andersen

WASHINGTON, Feb 12 (Reuters)

The following are the hearings that the U.S. Congress has scheduled on the collapse of Enron Corp., the role of its auditor Andersen and related regulatory issues over the coming weeks.

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Stricter rules for Enron-type deals proposed

NEW YORK, Feb 13 (Reuters) -

U.S. accounting rulemakers on Wednesday proposed stricter rules on how companies can keep complex financing arrangements off their books as the accounting industry seeks to prevent future Enron-like debacles.

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NYSE forms committee to evaluate listing standards

NEW YORK, Feb 13 (Reuters)

The New York Stock Exchange on Wednesday said it set up a committee to review its listing requirements and corporate governance issues for Big Board companies.

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National Energy Policy

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US judge orders White House to keep energy records

By Peter Kaplan, WASHINGTON, Feb 12 (Reuters)

A U.S. federal judge on Tuesday directed the White House to preserve records from meetings of its energy task force, which critics suspect was heavily influenced by Enron Corp. and other major energy companies.

Competition & Deregulation

For reports and related information on this topic visit our

Data Center

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PTT to set up 3 new subsidiaries ahead of natural gas liberalization

BANGKOK, Feb 12, 2002 (AFX-Asia via COMTEX) --

The Petroleum Authority of Thailand (PTT) plans to set up three new subsidiaries by the beginning of 2003 ahead of plans to liberalize the natural gas business industry, Business Day reported, citing Prasert Bunsumpun, PTT senior executive vice-president.

Mergers, Acquisitions & Divestitures

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Embattled Dallas-Area Electric Co-Op to Sell Gas Subsidiary

By Dan Piller, Fort Worth Star-Telegram, Texas, Feb. 12

CoServ, the bankrupt electric cooperative that serves Denton County, put its gas subsidiary on the market Monday on what it said would be an "expedited basis."

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FERC OKs Enron's $1.8 billion sale of Oregon utility

WASHINGTON, Feb 13 (Reuters)

The Federal Energy Regulatory Commission on Wednesday approved Northwest Natural Gas Co.'s $1.8 billion acquisition of Portland General Electric Co., the Oregon utility owned by bankrupt Enron Corp.

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Top Russian Executive Predicts More Mergers in Oil Industry

By Michael Davis, Houston Chronicle, Feb. 13

The major Russian oil companies will continue to combine over the next few years until only one or two world-scale companies remain, a top Russian oil executive predicted Tuesday.

Gas Pricing/Hubs

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Canadian natgas prices ease with weaker U.S. cash

NEW YORK, Feb 13 (Reuters)

Canadian spot natural gas prices weakened on Wednesday, taking cues from lower U.S. cash in forecasts for warmer weather, industry sources said.

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NYMEX gas ends mixed after late selloff despite AGAs

NEW YORK, Feb 13 (Reuters)

NYMEX Hub gas, lifted early by some short covering ahead of a weekly storage report, ended lower on Wednesday, hit by a late wave of technical selling despite slightly supportive inventory data, sources said.

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Most U.S. day-ahead natural gas prices slip

SAN FRANCISCO, Feb 13 (Reuters)

Most U.S. spot natural gas prices fell slightly on Wednesday amid forecasts calling for rising temperatures later in the week in the Northeast and Midwest, industry sources said.

Drilling/Exploration

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Criticism of Thai Energy-Contract Extension Upsets Prime Minister

Bangkok Post, Thailand, Feb. 13

Criticism of the government's decision to give Harrods Energy Thailand Co another year before it must start drilling in its offshore concession in the Gulf Of Thailand has upset Prime Minister Thaksin Shinawatra.

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Enap drills gas exploration well

Chile, Feb 13, 2002 (BNamericas.com via COMTEX) --

Chile's state oil company Enap has begun drilling an exploratory gas well at Brazo Norte in San Gregorio in the XII Region, the company's second well in an exploration agreement with power generator AES Gener, La Prensa Austral reported.

Futures

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Late Sell-off Sinks March Gas Futures after Initial AGA Spike

Feb. 13 (Btu's Daily Gas Wire)

After a late bout of volatility following the release of the American Gas Association storage report, March natural gas futures settled 6 cents lower at $2.245.

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Gas Reserves

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Pengrowth cuts Sable gas reserves estimate

CALGARY, Alberta, Feb 12 (Reuters)

Pengrowth Corp., which manages the Pengrowth Energy income trust, said on Tuesday it cut its estimate of gas reserves at the Sable Offshore Energy Project by 14 percent, two weeks after partner Shell Canada Ltd. clawed back its own numbers.

Pipelines

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FERC OKs Williams natgas pipeline expansion

WASHINGTON, Feb 13 (Reuters)

Williams Cos. unit Transco won approval on Wednesday from the Federal Energy Regulatory Commission for its Momentum expansion project to increase the capacity a pipeline from Louisiana to Virginia.

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Russian Oil Company To Supply Gas To Venezuela

Moscow, Russia, Feb 13, 2002 (RosBusinessConsulting via COMTEX) --

The Zarubezhneftegaz oil and gas company is planning to participate in the construction of a Venezuela-Columbia gas pipeline, a source in the press service of the company reported to RosBusinessConsulting today.

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Cyprus aims to close deal on natural gas pipeline by September

Feb 12 - BBC Monitoring European

Cyprus' Commerce, Industry and Tourism Minister Nikos Rolandis said today that by September the government will have to close a deal on natural gas, to be used in 2006 when a fourth unit is set up by the Cyprus Electricity Authority, adding that due to the delay in constructing a pipeline from Egypt to Syria, Cyprus is also investigating alternative solutions for providing liquefied natural gas.

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Alaskan Governor's Pipeline Dream Of $17B in Bonds Goes to Legislature

Feb 13, 2002 - Bond Buyer

Alaska Gov. Tony Knowles officially introduced state legislation yesterday to allow the Alaska Railroad Corp. to issue up to $17 billion in tax-exempt bonds to finance a natural gas pipeline built to serve the nation.

Storage

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FERC OKs Energy East natgas storage in New York

WASHINGTON, Feb 13 (Reuters)

The Federal Energy Regulatory Commission approved on Wednesday a plan by Energy East Corp. unit Seneca Lake Storage Inc. to build a natural gas storage facility in Reading, N.Y.

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AGA says U.S. weekly natgas stocks fell 156 bcf

WASHINGTON, Feb 13 (Reuters)

The American Gas Association issued the following weekly estimates of U.S. working gas in storage (in bcf):

General

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Gas Co. Offers Help to Jobless Customers in Orange County, Calif., Area

By Mary Ann Milbourn, The Orange County Register, Calif., Feb. 13

Help is on the way for laid-off workers and low-income households having difficulty paying their gas bills.

Trading/Marketing

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New post-Enron trading regulations not needed-CFTC

WASHINGTON, Feb 13 (Reuters)

Enron Corp.'s swift collapse into bankruptcy had little impact on U.S. energy futures markets and Congress should not rush to impose new trading regulations, the head of the Commodity Futures Trading Commission said on Wednesday.

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ADVISORY-NY commodities and energy holiday hours

NEW YORK, Feb 13 (Reuters)

In observance of the U.S. Presidents Day holiday, New York commodities and energy markets will be closed on Monday, Feb 18.

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EnronOnline Re-emerges into Commodity Trading, But Leading Position Has Been Claimed by Others

By Will McNamara, IssueAlert, Feb. 13 (Scientech)

EnronOnline, the collapsed energy giant's Internet trading platform, on Feb. 11 tiptoed back into the energy trading market it once dominated.

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Conference Announcements

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Energy Executives Consider Changes in Industry at Houston Conference

By Charlene Oldham, The Dallas Morning News, Feb. 13

Executives are contemplating the new face of risk at a global energy conference in the city where Enron Corp. rose and crashed -- but relegating the corporate titan's collapse to the background.

Financial

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BHP approves Mad Dog oil field spend

MELBOURNE, Feb 13 (Reuters)

BHP Billiton Ltd/plc, the world's largest diversified miner, said on Wednesday its board had approved spending of up to US$335 million to develop the Mad Dog oil and gas find in the Gulf of Mexico.

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FEATURE-Accounting Sherlocks bask as scandals rocket

By Deepa Babington, NEW YORK, Feb 13 (Reuters)

An audit gone awry? Hidden debt lurking in your company's books? Time to call your friendly accounting version of Sherlock Holmes.

Financial - Results

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Berry Petroleum Co. Announces Drop in 2001 Net Income

By Erin Waldner, The Bakersfield Californian, Feb. 13

Taft's Berry Petroleum Co. announced Tuesday that its net income for 2001 was $21.9 million -- compared with $37.2 million the previous year.

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Westcoast profit up in last quarter before takeover

VANCOUVER, British Columbia, Feb 13 (Reuters)

Canadian pipeline operator Westcoast Energy Inc, which is set to be absorbed by Duke Energy Corp., said on Wednesday profits jumped in the fourth quarter on sale of its Union Energy and Westcoast Capital units.

International

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Fortum sells 35 pct stake in Oman Suneinah concession to Mitsui, associate

HELSINKI, Feb 13, 2002 (AFX-Asia via COMTEX) --

Fortum Corp said it signed an agreement to sell its 35 pct interest in the Suneinah concession, Block 9, and associated gas exploration and production rights in Oman to Mitsui & Co Ltd and its associated company Mitsui Oil Exploration Co Ltd.

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PNOC unit says oil firms can retake 10 pct of Victoria project 'at a premium'

MANILA, Feb 13, 2002 (AFX-Asia via COMTEX) --

A group of private oil exploration companies can repurchase up to 10 pct of the Victoria natural gas project but at a premium, Philippine National Oil Co-Energy Development Corp spokeswoman Debbie Diokno said.

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Petrobras reduces participation in thermal power plants

Brazil, Feb 13, 2002 (Jornal do Brasil/SABI via COMTEX) --

The Brazilian state owned oil and gas company Petrobras is reducing its participation in the construction of thermal electric power plants in the country.

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State, Shell Team Up in Gas Project

By John Fraser, Feb 13, 2002 (Business Day/All Africa Global Media via COMTEX) --

SHELL SA joined forces with government yesterday in announcing their intention to develop a natural gas industry in the Cape region, with the gas being shipped or piped from Namibia.

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CNE strives to avoid hydrocarbons export tax

Argentina, Feb 13, 2002 (BNamericas.com via COMTEX) --

The head of Chile's national energy commission (CNE), Vivianne Blanlot, met Argentina's industry minister Ignacio de Mendiguren Tuesday for talks on the 20% tax on hydrocarbon exports that Argentina is considering.

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Jeff,

Glad to hear from you.

Frankly, it's been a hectic week out this way as well - you may have heard
about the HR organization being restructured. Well, it has been and yours
truly now has until July 31 to find a job inside the company or hit the
bricks! Not a pleasant prospect.

I knew Enron was going to be dynamic and ever changing but I'd hoped to get 6
months or so under my belt before it started!

In any case, I'm going to be going through the company-provided
resume'/interviewing/job search workshops starting today. It's a humbling
experience and also a good dose of reality - I've been the one to organize
and conduct these types of workshops for the last 3 organizations I worked
for and now the shoes on the other foot!

I've rambled enough - glad you found my address and I'll be reading your plan
within the next day or so - then I'll get back with you.

Best Regards, Jeff and thanks for your follow through.


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I'll see you guys there.

	Enron Capital & Trade Resources Corp.  From:  Ashleastu@aol.com                           04/19/2001 03:00 PM

To:	jkbowles@hotmail.com, Susan.M.Scott@enron.com
cc:
Subject:	ale house around 5:45 or 6?

lisa and i are planning on going to the ale house between 5:45 and 6 tonight.
does that time sound good for you? susan, i don't know if this is when you
get off work, so let me know if this time is bad for you!
see you there!
ashlea


paperloop.com
BRUSSELS, Aug. 7, 2001 (paperloop.com) - UPM-Kymmene has unveiled details of the Euro 60 million ($53 million) PM 1 and pulp line rebuild at its Rauma mill in Finland. The revamp of the mill's integrated pulp line will boost mechanical pulp capacity from 1,500 tonnes/day to 1,700 tonnes/day.
The company has not yet chosen the suppliers for the scheme but expects to reach a decision by the end of October this year. UPM-Kymmene has already started planning work for the scheme and installation is due to kick off next year. The rebuilt PM 1 is scheduled to restart at the beginning of 2003. The additional pulp output is slated to come on stream during the second half of 2002.
The integrated pulp line feeds PM 1 and the mill's other three machines. The Rauma mill's pulp production has lagged behind while the PMs' capacities have risen during the past few years without major investments. The extra pulp output will enable the units to boost their paper production.
The details of the pulp upgrade have not yet been hammered out, but the plans for the PM revamp have taken shape. PM 1's press and dryer sections will be modernized and the coaters will be rebuilt. The PM 1 revamp will raise the machine's high-brightness lightweight coated paper (LWC) capacity from 250,000 tonnes/yr to 300,000 tonnes/yr.
The Rauma mill has a total capacity of 1,140,000 tonnes/yr of magazine paper. PM 2 produces 250,000 tonnes/yr of supercalendered (SC) paper, while PM 3's SC capacity is 240,000 tonnes/yr. PM 4 churns out 400,000 tonnes/yr of LWC.


Isreal,

I apologize, but I'm going to have to cancel.  We've got some major problems
that I have to handle.  Monday at 10:30 am works for me.  Let me know if it's
good for you.

Thanks,

Errol, X5-8274

Israel Estrada
03/09/2001 07:24 AM
To: Errol McLaughlin/Corp/Enron@ENRON
cc:

Subject: Confirmation

Hi Errol,

I just wanted to see if I could sit with you for a few minutes this morning.
We had tentatively said around 10:30 a.m. this morning.  Please let me know
if this is still okay for you.  Thanks again for your help.

Israel x53224


---------------------- Forwarded by Tamara Jae Black/HOU/ECT on 03/02/2001
11:33 AM ---------------------------

	From:  Christi L Nicolay                           03/02/2001 09:49 AM

To: Tamara Jae Black/HOU/ECT@ECT
cc:
Subject: Kevin's RTO Ideas for East

TJ-Please forward to all of Kevin's trading group.  Thanks.
_____________

The East desk's No. 1 priority for RTOs is The Real Time Energy Market (no
day ahead balanced schedule requirement).  This means that the RTO should
post the supply and demand curve with real time prices (the best example at
this time is PJM's real time market).  A real time energy market is
fundamental for customers to get proper real time price signals upon which to
base their decisions to hedge or not on a forward basis.  It also provides
the proper price signals to the market on where generation and transmission
is needed.  Getting a real time energy market would advance Enron's ability
to provide more financial tools to customers.  This market can be nodal (or
zonal) in order to send location based price signals (for example, to NY
City), with the ability to aggregate from nodal to zone determined "proxy
buses."

While Kevin prefers the physical flowgate model with an option to collect
congestion revenues (rather than an obligation, similar to the PJM FTRs now),
the method of determining the congestion management is secondary to the
establishment of the real time energy market.  Regulatory people should use
their judgment (and talk with the desk) when determining how far to push
option-type flowgates, rather than obligation-type FTRs.  Such a physical
market transmission/congestion market can support a financial trading overlay.

If you do have an FTR type system, there should be an upfront allocation to
load.  Ideally, the load should have an "network" right from the generator to
their load (or from load to the "hubs") in order to have the ability to
manage the congestion risk in the forward market when serving end use
customers (EES) or for the ENA full requirements deals.  The nodes should be
grouped into logical "zones" and congestion within a zone should be uplifted.
This allocation to customers (or full blown auction of all rights) becomes
critical in Enron's ability to serve load and all requirements customers.
Without the proper allocation (not to incumbent utilties), the risk premium
to serve these customers becomes too high and can't be priced.

Finally, the market should have no price caps and preferably no icap market
like NEPOOL (prefer PJM's system where the load has to show the RTO that it
has contracted for enough reserves.)  We have urged the FERC in Florida to
adopt a reserve monitoring system, whereby customers are not penalized for
lack of icap unless they actually go under the reserve requirement, then they
are required to purchase icap for a certain amount of time until they
demonstrate continued compliance.

Bottom line -- "Do not let the perfect be the enemy of the good."  Congestion
does not need to be perfectly allocated to each load if that mechanism is
done in a manner that precludes Enron and others from developing efficient
real time energy markets that send a locational hourly price signal to the
generation (supply) and the load (demand).  This type of market will provide
greater services to customers and allow Enron to grow its business.

Finally, as we work toward this goal, remember that in the absence of a
real-time energy market, we need to continue to focus our efforts on
non-discriminatory treatment with respect to transmission (no native load
exception) and parking and lending, scheduling flexibility, etc.


What does that mean?

 -----Original Message-----
From: 	Schoppe, Tammie
Sent:	Monday, December 10, 2001 1:36 PM
To:	Kitchen, Louise
Subject:	Do you still need Tammy Sheppard?

Tammie Schoppe
Enron Americas-Office of the Chair
Assistant to Louise Kitchen
713.853.4220 office
713.646.8562 fax
713.253.2131 mobile


You know I love this idea , BUT I still think we need to let Ken personally
address the "shots" he has taken.  It is just not the same to have Jeff say
it is okay that the AG of California wants to put Ken in a cell with Spike!
I strongly believe we need to give Ken a forum too, as he has been at the
center of alot of the recent noise.  I still believe a video with both of
them is the right way to go...The State of Enron.  I think Jeff's Corner is a
great idea too...can't we do both?  Ok, I have said this enough..I will go
away quietly now and let the experts decide...Beth
---------------------- Forwarded by Elizabeth Tilney/HOU/EES on 06/13/2001
04:44 PM ---------------------------

Mary Clark@ENRON
06/13/2001 01:42 PM
To: Jeff Skilling/Enron@EnronXGate
cc: Sherri Sera/Enron@EnronXGate, Karen Denne/Corp/Enron@ENRON, Steven J
Kean/NA/Enron@Enron (bcc: Elizabeth Tilney/HOU/EES)
Subject: Your corner on the intranet

Jeff --

Our Internal Communications group is continuing to look for ways to
communicate with employees in a timely manner about hot topics that are of
interest to them.  We're also looking to increase your exposure with
employees.  We have a new idea, which Sherri discussed briefly with you a
couple of weeks ago.  It's called "Jeff's Corner" and it will be a regular
video message that will be posted on the intranet -- which can be accessed by
99.9% of our employees.

This is how it will work.  We will tape a 2-3 minute video of you talking
about what's top of mind at that moment.  The tone and style will be like
your floor meetings (one of your best employee venues), casual and
conversational.  We suggest the first topic be "The State of Enron."  There
is a lot of talk among employees about the cheap shots we've taken as a
company and by you and Ken, about the decline in our stock price and about
the widespread re-deployment efforts.   These recent events are  beginning to
affect morale.  Employees are concerned and want to be assured that we're on
the right side, that they will have jobs, that Enron will be here next year.
You've helped reassure them about these things at recent floor meetings;
however, that is only a small part of our global work force.  Having your own
corner on the intranet will have a farther reach, and we have the capability
to do this in-house at very low cost.

We recommend making this a regular communication feature at least monthly,
although since this would only involve a few minutes of your time, you could
even tape a message to employees weekly.  The nice thing about this medium is
we have the ability to respond immediately to current events, and having you
speak to employees gives the message credibility.

Future topics could address new cost saving procedures, update on Dabhol, the
PRC, reasons behind an organizational announcement, The Pulse survey, etc.
We'd like this to be a forum where you can talk about topics you'd like to
discuss.

I've checked with the technical team, and we have the capability do this
now.  I will check your calendar with Sherri.  Let me know if you have any
questions.

Mary


---------------------- Forwarded by Denver Plachy/NA/Enron on 03/26/2001 10:02 AM ---------------------------
From:	Teresa Dyar/ENRON@enronXgate on 03/26/2001 08:42 AM
To:	Les Webber/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jody Crook/Corp/Enron@ENRON, Lowell Bezanis/ENRON@enronXgate, Denver Plachy/NA/Enron@Enron, Russell Dyk/Corp/Enron@ENRON
cc:

Subject:	CA Supply & Demand: Article on Kern River Expansion p4

Kern River plans to double their pipeline capacity by 2003. Please forward to others who may be interested.


Is it really so you can look at girls or so people can look at you?

  I think your right about everyone being able to beat anyone with one
important caveat.  The individuals in question must be in the same strata.  I
would not anticipate that an olympic medal winning long-distance runner could
be beat by Joe Shmoe who runs every day at Memorial Park.  Of course if one
is patient and bides their time they could probably stand a shot when the guy
gets really old and slow.

Also, are you so bold as to suggest you've never lost?  Or do you not
identify them as losses but rather the results of your own choosing?

Wilson Kriegel@ENRON
04/26/2000 01:40 PM
To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: Re: Whaaatttzzz Up?

well he was with her...his ugly...what the hell....
and i'm always up for a challenge and because i have alwyas been the under
dog, my first true assumption is that everyone can beat anyone.
That's what i think inside, now what i show and tell is different...I don't
lose and no you are not a the level that you could beat me...
hihi
and i go run at 5:30pm, cause like that i can look at girls...


---------------------- Forwarded by Dave Samuels/HOU/ECT on 05/08/2000 04:05
PM ---------------------------

"Abudi Zein" <azein@energyargus.com> on 05/08/2000 03:56:16 PM
To: "David A. Samuels" <dave.samuels@enron.com>
cc:
Subject: comments on the agreement draft

David,
Thank you for sending the agreement draft on Friday. Here are my notes after
the first reading. If you wish to discuss those further, perhaps we can
schedule a time on the phone.
Preamble: We are a Delaware corporation.
Section 1: Definition: the attrition rate per your definition is diluted by
the addition of new clients. The attrition rate should calculated based on
the number of existing clients at the beginning of the agreement without
taking new clients into account.
Section 3: Termination of the Agreement should be mutual, and we cannot
agree to keeping the Exclusivity at the same level through any renewal
periods.
Section 5: the definition of competitors is too broad. We would like to see
something that more tightly defines electronic trading of wholesale
commodities. We would like to retain the ability to offer these services in
areas where Enron Online is not active, such as supply chain systems, and in
the retail markets for large commercial and industrial concerns. Also, I am
not sure  whether this is intended, but your reference to "any Publication"
will give you exclusivity to ALL our publications for the fee set out in 4
a. That is not the intent.
Section 6 (b) should be removed (see comments on Section 1)
Section 10. we cannot agree to letting Enron disclose the existence of this
agreement without our consent. Any disclosure about this agreement,
including the fact of its existence, should be by mutual consent.
Section 12: we need a mirror section indemnifying us against all and any
claims against Enron Online. This would be a show-stopper for our lawyers.
Section 13: I am not sure we have such an insurance, but even if we did, I
am not sure why Enron is requiring this given that there is a clear
indemnification
Section 14 (a) three days seems unduly short. I would say 5 days is more
reasonable. There are no fee payments in advance, so I believe we can remove
mention of fees being paid back.
Section 17: we're really not looking for a monetary commitment from Enron on
helping us find illegal distribution. What is important to us is that Enron
has a contractual obligation to notify us immediately if it becomes aware of
any breach of copyright or illegal distribution. It would be good if that
were written into this section.
Section 29: typically, we do not agree to arbitration clauses for the simple
reason that these types disputes tend to end up in court anyway, and then
the two parties have spent money on arbitration and still have the legal
costs ahead of them. I believe we can live with this clause, but it would be
better if it were not there.
There might be a couple more points that come up from my colleagues or on a
second reading, but I believe these are the main sticking points at the
moment.

Abudi Zein


Kim,

Here is the e-mail that I have been sending out.  I will follow with a call.

Tyrell Harrison
303 575 6478
----- Forwarded by Tyrell Harrison/NA/Enron on 03/14/2001 05:15 PM -----

	Tyrell Harrison
	03/14/2001 03:31 PM

		 To: Gary_O_Weaver@DOM.COM
		 cc:
		 Subject: Kern River Bid

Gary,

Please find attached the following documents:
Cover Letter from ENA

Precedent Agreements, one for each package, with Kern River (we have filled
out the amendment A's).

Kern River Credit Application and credit policy

The Letter Agreement with ENA will be faxed to you shortly.  The agreement
will be signed by ENA prior to faxing.

Also, I am attaching the Kern River open season notice for your reference:

The attached cover letter above outlines the process that must be followed in
order to complete this transaction.  The bids are due to Kern River Gas
Transmission Company, by fax at (801) 584-6950, by noon on Thursday, March
15, 2001.  We appreciate your timely reaction to this offer and are standing
by to help in any way we can.  Please contact me at (303) 575-6478 or by
e-mail at Tyrell.Harrison@Enron.com if you have any questions, comments, or
concerns.

Thanks,
Tyrell Harrison
303 575 6478


You've probably seen some of these before, but they're
classics.
Have fun,
Ciao, Anik

Bizarre facts of this world

In Lebanon, men are legally allowed to have sex with
animals, but the animals must be female. Having sexual
relations with a male animal are punishable by death.
(Like THAT makes sense.)

In Bahrain, a male doctor may legally examine a
woman's genitals, but is prohibited from looking
directly at them during the examination. He may only
see their reflection in a mirror.

Muslims are banned from looking at the genitals of a
corpse. This also applies to undertakers; the sex
organs of the deceased must be covered with a brick or
piece of wood at all times. (A brick??)

The penalty for masturbation in Indonesia is
decapitation.

There are men in Guam whose full-time job is to travel
the countryside and deflower young virgins, who pay
them for the privilege of having sex for the first
time... Reason: under Guam law, it is expressly
forbidden for virgins to marry. (Let's just think for
a minute; is there any job anywhere else in the world
that even comes close to this?)

In Hong Kong, a betrayed wife is legally allowed to
kill her adulterous husband, but may only do so with
her bare hands. The husband's lover, on the other
hand, may be killed in any manner desired. (Ah!
Justice!)

Topless saleswomen are legal in Liverpool, England -
but only in tropical fish stores.(But of course!)

In Cali, Colombia, a woman may only have sex with her
husband, and the first time this happens, her mother
must be in the room to witness the act. (Makes one
shudder at the thought.)

In Santa Cruz, Bolivia, it is illegal for a man to
have sex with a woman and her daughter at the same
time. (I presume this was a big enough problem that
they had to pass this law?)

In Maryland, it is illegal to sell condoms from
vending machines with one exception: prophylactics may
be dispensed from a vending machine only "in places
where alcoholic beverages are sold for consumption on
the premises." (Is this a great country or what? Not
as great as Guam!)

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

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

A pig's orgasm lasts for 30 minutes. (In my next life
I want to be a pig)

Banging your head against a wall uses 150 calories an
hour. (Still not over that pig thing)

Humans and dolphins are the only species that have sex
for pleasure. (Is that why Flipper was always
smiling?)

The strongest muscle in the body is the tongue.
(Hummm....I won't touch THAT one!)

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

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

Butterflies taste with their feet. (Ah, geez)

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

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

After reading all these, all I can say is.......Damn
Those Pigs.

__________________________________________________
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/?.refer=text


Team Vitro:

I wanted to run these changes by you before sending them to Jeff Smith.

Jeff S. has lobbied for deleting the language on assignment, and state that
assignment of the consolidation agreement will be subject to the same terms,
etc. as the other 2 contracts.  He also provide alternative language which
appears to be close to what was in the previous draft. Since I didn't know
the genesis of the language in the consolidation agreement, so I thought I
would check with you first.

I eliminated 5 (a) because the contracts allow for partial termination.


---------------------- Forwarded by Mary Hain/HOU/ECT on 12/11/2000 11:47 AM
---------------------------

Alan Comnes
12/11/2000 01:29 PM
To: Tim Belden/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Jeff
Richter/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, John M Forney/HOU/ECT@ECT,
Greg Wolfe/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, mwood@stoel.com, Elizabeth
Sager/HOU/ECT@ECT, steve.hall@enron.com
cc:
Subject: Bullet Summary of the ISO's Amendment No. 33 (December 8 Filing)

After I wrote this I was forwarded Steve Hall's summary.  There's some
redundancy but hopefully, this provides a few more details.    Also, Mary H.
and I are informed that on Friday the FERC issued an order that appears to
approve the ISO,s request in full.

Bullet Summary of the ISO's Amendment No. 33 (December 8 Filing):

The following is a summary of the filing made by the ISO.

1) ISO,s $250/MWh Soft Cap
a) Summarized: ISO Claims its proposal is identical to the FERC proposed soft
cap but raises the soft cap level to $250 from the $150/MWh proposed by the
FERC: &The ISO would replace the current cap on Imbalance Energy bids with an
interim &soft8 price cap based on the price mitigation proposal in the
Commission,s November 1 Order. The ISO,s scheduling system will not reject
Energy bids priced in excess of the $250/MWh price cap, but will evaluate
those bids in price merit order. However, if the ISO issues Dispatch
instructions to Scheduling Coordinators for Energy that has been bid in
excess of the $250 soft cap, those bids will not set the Market Clearing
Price for Imbalance Energy. Rather, those Scheduling Coordinators will be
paid in accordance with their bids.8

b) Refund risk and cost documentation above $250. &Imbalance Energy above the
level of the soft price cap would be subject to refund, based on subsequent
review by the Commission. It also should require Scheduling Coordinators that
submit such bids to supply supporting cost information to the Commission, as
well as to the ISO and to the California Electricity Oversight Board so that
they may bring questionable bids to the Commission,s attention.

i) Appears to imply that the proposed reporting requirement is supplemental
to what was requested by the FERC. See p. 8

ii) Regarding production costs:  fuel, taxes, emission credits, startup costs
are all listed as costs.  However, no mention of noncontiguous scheduling
costs or reasonable profit.

iii) Quasi safe harbor on opportunity costs:  In a footnote to cover letter,
ISO states it will particularly scrutinize any opportunity costs in excess of
10% of the production costs or $25/MWh, whichever is lesser.

c) Useful quote: &In light of current fuel prices and the ISO,s recent
experience in receiving less than a thousand MW of Imbalance Energy bids at
prices of $150 or less in many hours, the ISO believes that a $150 soft cap
would be tantamount to procuring all Imbalance Energy on an as-bid basis.8

d) Effective date: 4 p.m. PST 12/8/00.

e) Term of this soft cap:  lesser of 3 mo (3/8/01) or whenever the Commission
supercedes it by its own order.

f) Applicable tariff sections.  Section 2.5.23.2 and .3.  See attachments
A1/B1 to the filing.

2) Participating Generator Penalties
a) Summary: &the ISO proposes in Amendment No. 33 to assess penalties against
Participating Generators that refuse to operate in response to an ISO
Dispatch instruction during a System Emergency or when the ISO is acting to
avoid an imminent or threatened System Emergency. They would be charged an
amount equal to twice the highest price that the ISO paid for Energy for each
hour in which the Participating Generator failed to respond. In addition, if,
during that hour, the ISO curtailed Load to manage a System Emergency other
than Load that has not been designated by agreement or regulation as
interruptible, the Participating Generator would pay an additional penalty of
$1000/MWh for the Energy that it failed to deliver.8
b) Allowed excuse:  The penalties would not apply if the Participating
Generator has notified the ISO (within the hour of instruction), and
subsequently demonstrates (documentation within 72 hours) , that its
Generating Unit, System Unit or System Resource was physically unable to
operate or that operation would violate a legal restriction that could not be
waived.

c) Applicable tariff sections. Amends portions of 5.6.1 .2 and .3. See
attachments A2/B2 to the filing.

d) Effective date: Same as the ISO,s new soft cap: 4 p.m. PST 12/8/00

e) Term:  I did not see any sort of sunset provision.

3) Load Imbalance Penalties

a) Summary: &Scheduling Coordinators who rely on that  market to serve their
Loads the ISO,s costs of obtaining Energy through bids above the proposed
soft price cap or through out-of-market Dispatches when bids are
insufficient. Specifically, those costs would be allocated to Scheduling
Coordinators in proportion to their Demand that appears unscheduled in
real-time (underscheduled Load) and Generation that is scheduled but does not
appear in real-time, except to the extent that the underscheduled Load or
undelivered Generation is balanced within the Scheduling Coordinator,s
portfolio.8  The costs of dispatching units that have bid above the Market
Clearing Price for Energy to Scheduling Coordinators in proportion to their
Net Negative Uninstructed Deviations (in essence, the amount by which their
metered Demand exceed their metered Generation). Cover letter, p. 10.

b) Net Negative Uninstructed Deviation (NNUD) defined: &The real time change
in Generation or Demand associated with underscheduled Load (i.e., Load that
appears unscheduled in real time) and overscheduled Generation (i.e.,
Generation that is scheduled in forward markets and does not appear in real
time). Deviations are netted for each BEEP Interval, apply to a Scheduling
Coordinator,s entire portfolio, and include Load, Generation, Imports and
Exports8

c) Applicable tariff sections. Amends portions of  11.2.4.2.1.  See
attachments A3/A3/B3 to the filing.

d) Effective date:  For loads scheduled for  12/12/00.  (Essentially, loads
scheduled on 11/11 for next day).

e) Term:  I did not see any sort of sunset provision.

4) Useful Info from the Detmers Declaration

a) &During the recent 7-day period from December 1, 2000 through December 7,
2000, planned Generating Unit outages have averaged roughly 4,000 MW. During
this same 7-day period, forced or unplanned outages of generating have be
very high, averaging approximately 7,000 MW. &
b) &For example, for the last four days (December 4, 2000 to December 7,
2000) we have purchased 255,000 MWh of OOM Energy. The cost of these
purchases were approximately $167 million. MWh.8  (Equivalent to an average
OOM cost of $655/MWh.)


Attached are the GTCs that I have revised to address tax issues that would
arise from counterparties with no Australia presence. I am content settlement
provisions already covered in the documentation. I have also developed a
checklist for new counterparties. Would you pass onto Chris Catt at PW for
his signoff.


Elizabeth, any interest in the second resume here?  We are interviewing the
first guy already.  Thanks.  Michelle

---------------------- Forwarded by Michelle Cash/HOU/ECT on 12/05/2000 11:49
PM ---------------------------

Tracie_Waligura@rwr.com on 11/10/2000 10:44:37 AM
To: michelle.cash@enron.com
cc:
Subject: Andy Becnel and Bruce Reemsnyder

Richard, Wayne and Roberts

From: Tracie Waligura@RWR on 11/10/2000 10:44 AM

To:   michelle.cash@enron.com
cc:
Subject:  Andy Becnel and Bruce Reemsnyder

Michelle - As discussed, attached are the resumes of Andy Becnel (corporate
attorney) and Bruce Reemsnyder (energy attorney).

(See attached file: andrew becnel resume.doc)(See attached file: andrew becnel
deals.doc)

(See attached file: bruce reemsnyder resume.doc)

Tracie Waligura
Legal Recruiter
24 Greenway Plaza, Suite  1304
Houston, Texas 77046
Toll:        800-364-7979  Ext. 7254
Direct:    713-358-7254
Fax:        713-623-2740
Email:    twaligura@rwr.com
Internet: http://www.rwr.com

 - andrew becnel resume.doc
 - andrew becnel deals.doc
 - bruce reemsnyder resume.doc


pls print.  df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 12/16/99 05:37
PM ---------------------------

	From:  Dari Dornan                           12/16/99 11:02 AM

To: Mary Kay Miller/ET&S/Enron@Enron, Drew Fossum/ET&S/Enron@ENRON, Mary
Darveaux/ET&S/Enron@Enron, Mary Lou Hamilton/ET&S/Enron@Enron, Glen
Hass/ET&S/Enron@Enron, John Williams/ET&S/Enron@ENRON, Loren
Penkava/ET&S/Enron@ENRON, Karen Brostad/ET&S/Enron@Enron, Zuela
Carter/ET&S/Enron@Enron, Patricia Steele/ET&S/Enron@Enron
cc:

Subject: Extensions of cap rel contracts

Attached please find 2 draft letter to send to acquiring shippers with copies
to releaseing shippers.

Letter A is to go to those shippers that have not paid the November
invoices.  Pursuant to the tariff, Northern can give notice to terminate the
service agreement.  At such point, the service agreement reverts back to the
releasing shipper.The letter includes a notice that we consider the agreement
extended to 2003 per the rate case even without their execution.

Letter B is to go to those acquiring shippers that paid the November
invoices.  For those service agreement with an original expiration date of
10/31/99, the payment constitutes acknowledgement that the agreement
continues to 2002 pursuant to the administrative amendment that extended the
agreement pursuant to the rollover provisions.  The letter includes a notice
that we consider the agreement extended to 2003 per the rate case even
without their execution.

Do we want to add to both letters that if the amendment is not executed,
Northern will consider the releases temporary and the entitlement will revert
back to the releasing shipper by x date?  or do we want to just wait until
11/1/02 and see what happens.  (the revert back maybe should be in a separate
letter to the Releasing Shipper otherwise the acquiring shipper will just do
nothing and we'll be fighting with the releasing shipper anyway.  I'm
rambling but hopefully you get the jist.

Please let me have your comments ASAP because I don't know when 30 days from
the invoice runs out.  Considering they have ten days to pay and we know they
haven;t paid, we for sure only have 20 days.  Thanks, Dari


http://search.netscape.com/cgi-bin/search?cp=nsiwidsrc&search=reverse+search&x
=36&y=1
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/09/2001
02:16 PM ---------------------------

ERisk <ERisk@email.eRisks.com> on 04/05/2001 10:41:53 AM
Please respond to <info@erisk.com>
To: vkamins@ect.enron.com
cc:
Subject: Risk management portal update

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Response re my inquiries re accounting treatment.
----- Forwarded by Barton Clark/HOU/ECT on 09/12/2000 09:55 AM -----

	Scott Healy
	09/07/2000 12:26 PM

		 To: Barton Clark/HOU/ECT@ECT
		 cc: Jeffery Ader/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Heather
Kroll/HOU/ECT@ECT
		 Subject: Re: Conn Fuel Cell

Because ENA is getting a full prepayment of the turn-key construction amount,
I don't think that there will be a material balance sheet issue.  Worst case,
it is easy to do off-balance sheet financing when you have cash equal to the
total obligation.  Obviously, this will have to be vetted before the
transaction is executed.


Folks,

I would like to have this in place as soon as possible.  We are trying to
develop liquidity in New York and Amerada Hess may be an important trading
partner.

Thanks,

Tom.

	From:  Robert Stalford                           02/06/2001 02:27 PM

To: Mark Taylor/HOU/ECT@ECT
cc: Teresa Mandola/Corp/Enron@Enron (bcc: Tom May/Corp/Enron)

Subject: Hess ISDA

Mark,

I just received a call from Kelley Lavourne, a trader with Amerada Hess,
asking me to update him on the ISDA status. He has interest in trading
financials in New York power via EOL. He was told by his attorneys that you
were working on it from Enron's end. Kelley wanted to find out if there was
anything he needs to do on his end to speed up the process. Any update you
could give me would be appreciated. Thanks.

Rob Stalford
Manager
East Power Trading
853-6768


I haven't heard from GE yet today.  Is your cell phone still the best way to
contact you?

Dale Rasmussen@ECT
11/17/2000 10:26 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: GE Breakout contract--Las Vegas Cogen

Pretty good until 11:00 Portland time.  After that I will be negotiating the
Las Vegas sale.

Kay Mann@ENRON
11/17/2000 06:27 AM
To: Dale Rasmussen/HOU/ECT@ECT
cc:
Subject: Re: GE Breakout contract--Las Vegas Cogen

Dale,

What is your availability for a conference call with GE today?

Kay


Tana:

The following CPs are not authorized to trade US power products:

Atco Midstream Ltd. - restricted by credit
Dynegy Marketing and Trade - not a current physical power CP/not FERC approved
Devon Energy Corporation - restricted by credit
Lucent Technologies Inc. - not a current CP/not FERC approved
Navajo Tribal Utility Authority - not a current CP/not Ferc approved -- This
CP may have read-only rights for US power products.  I spoke with Dinanna
Dechilly  at Navajo -- they are not interested in trading power at this time
but will let me know if they want to at a later date.  If so, I'll follow up
on their authority.

City of Burbank - West only/not authorized to trade East power
Tillamook Peoples Utility District - West only/not authorized to trade East
power

****************************
City of Burbank -- West power ONLY pursuant to WSPP
PSEG Energy Resources & Trade LLC - open to trade all US power products
pursuant to EEI Master
Tillamook Peoples Utility District - open to trade West power only pursuant
to on-line GTCs


You can inactive the book on the active/inactive website.  Do you also need the book's counterparty ID inactivated?  If yes, please reply  and provide the CPID that needs to be suspended. Please also ensue that the book has been uploaded with zeros values to ensure compliance with Credit and cash flow requirments.

Regards,

Nancy

 -----Original Message-----
From: 	Mattox, Michael
Sent:	Friday, October 19, 2001 1:44 PM
To:	Hernandez, Nancy
Cc:	White, Stacey W.; Evans, Casey
Subject:	POWER-SS-R3C-PRC book

Nancy,

The following book POWER-SS-R3C-PRC should be made inactive.  The book was for a compound option that was being calculated on a spreadsheet.  The option was not exercised and its value was taken to $0 yesterday, 10/18/01.

Thank you.

Michael Mattox
x34317


Yes and no. I am not listening on the calls, but either Andy or Barrett call
me immediately afterwards to update me on the progress. If they leave me a
voicemail, I will forward it to you.


thank you

 -----Original Message-----
From: 	Bike, Anne
Sent:	Monday, October 15, 2001 1:20 PM
To:	Grigsby, Mike; Gossett, Jeffrey C.
Subject:	Booking New Deals

Mike and Jeff:  I would like to review our existing new deal procedures, and outline the additions I have made to our process in light of the error we found last week.

I have attached a spreadsheet that contains the existing procedures used by Risk to check our new deal entry every night.  I agree that the process must be enhanced because it leaves some room for errors because each Risk person is responsible for checking his or her own inputs.  The existing procedures do not have a backstop in place for catching volumetric errors. We will have an additional "check" in place if the traders and the Risk group arrive at the same net new deals positions from independent sources.

The following spreadsheet describes our existing process.  The only addition to the procedures is the last section on Deal Entry.  That section describes the new standardized Notebook and the deals to be entered by Risk.

 << File: NewDeal Procudures.xls >>

The new procedures that are being put into place include the following:

1. All traders will use a standardized notebook for writing up their financial trades;
2. The traders will no longer be entering their own financial deals;
3. The traders will keep an electronic record of the volumes traded through the broker market that will then be consolidated with the EOL trades done.  This net position should tie out to the net position entered into the system by Risk.

Keith Holst has had a similar function in a model that he runs; However, we decided that not only is his model to elaborate and complicated to be disseminated to all of the traders, but also this section has not been working.  I am working with Keith to design a simple process that will serve our needs and can be easily adopted by all Traders and Book Administrators.

I will have the standardized notebooks ready for use by the traders on Tuesday morning.

Please let me know if you have any comments or questions.


-----Original Message-----
From: Joor, William E., III
Sent: Tuesday, March 21, 2000 11:29 AM
To: Dilg, Joe
Subject: FW: NoCal March 20 Draft - Natural Gas Pipelines and
Distribution

William E. Joor III
Vinson & Elkins L.L.P.
3600 First City Tower
1001 Fannin
Houston, Texas  77002-6760
Tel:  713-758-2582
Fax:  713-615-5201
wjoor@velaw.com

 +++++++++++++++++++++++
 CONFIDENTIALITY NOTICE
 +++++++++++++++++++++++
 The information in this email may be confidential and/or
privileged. This email is intended to be reviewed by only the individual
or organization named above. If you are not the intended recipient or an
authorized representative of the intended recipient, you are hereby
notified that any review, dissemination or copying of this email and its
attachments, if any, or the information contained herein is prohibited.
If you have received this email in error, please immediately notify the
sender by return email and delete this email from your system. Thank You

-----Original Message-----
From: Michael Linn Miller [mailto:Michael.Linn.Miller@enron.com]
Sent: Monday, March 20, 2000 6:44 PM
To: J Mark Metts; Taylor, Mitchell (Enron); Amit Walia; Ceci Torn;
fstable@ei.enron.com; Sayre, C. Frank (Enron); fleite@enron.com; Lewis,
Jim C. (Enron); Young, Randy (Enron); Christodoulou, Diomendes (Enron)
Cc: Joor, William E., III; Alastair.maxwell@msdw.com;
Martin.arias@msdw.com; ramzi.nassar@msdw.com
Subject: NoCal March 20 Draft - Natural Gas Pipelines and Distribution

As previously indicated.

MLM
---------------------- Forwarded by Michael Linn Miller/ENRON_DEVELOPMENT on
03/20/2000 06:48 PM ---------------------------

Ramzi.Nassar@msdw.com on 03/20/2000 03:28:23 PM

To:   Michael.l.miller@enron.com
cc:

Subject:  NoCal March 20 Draft - Natural Gas Pipelines and Distribution

(See attached file: #143900 v1 - Natural Gas Pipes (Promigas).doc)(See
attached
file: #143900 v1 - Natural Gas Pipes (Centragas).doc)

(See attached file: #143900 v1 - Natural Gas Pipes (Promigas).doc)
(See attached file: #143900 v1 - Natural Gas Pipes (Centragas).doc)

 - #143900 v1 - Natural Gas Pipes (Promigas).doc
 - #143900 v1 - Natural Gas Pipes (Centragas).doc


Thanks for the update.  I asked John Nowlan to give you a ring several weeks
ago, and spend time with you.  Can you let me know if he got in touch with
you?

Regards

Jeff

GWDORSEY@aol.com on 01/05/2001 03:38:50 PM
To: jeff.shankman@enron.com
cc: whalley@enron.com
Subject: fert

I reached Greg today and had a nice conversation. He encouraged me to call
you.

Having missed you today I wanted to make a few suggestions.
With regard to your reservations about an investment in plant and equipment-
I understand that any such investment would be: limited and subject to your
being very attracted to the deal. I am confident that I can bring you deals
that will sell themselves.
-need to have an exit strategy that would allow an exit within 2-4years

A trading strategy without investment in plant and equipment will yield
attractive results.

With regard to how that would look - I will draft a short business plan and
send it to you next week basing it on a pure trading basis.

Let me invite you and Greg to a breakfast (or any other meal) during the week
of 16 Jan. That will give me a chance to get a few numbers in your hand
prior.

Regards for the New Year
George Dorsey
713 302 2047
406 582 0974


If Suzy were married this might be applicable to her last Friday nite . . .

  > Two buddies, Tony and Steve, are getting very drunk

  > at a bar

  > when suddenly Steve throws up all over himself. "Oh,

  > no. Now Jane will

  > kill me!"  Steve says.

  >

  >  Tony says, "Don't worry, pal. Just tuck a twenty in

  > your breast

  >  pocket, tell Jane that someone threw up on you and

  > gave you twenty dollars

  > for the dry cleaning bill."

  >

  >  So they stay for another couple of hours and get

  > even drunker.

  >

  >  Eventually Steve rolls into home and his Jane

  > starts to give him

  > a bad time. "You reek of alcohol and you've puked

  > all over yourself! My

  > God, you're disgusting!"

  >

  >  Speaking very carefully so as not to slur, Steve

  > says,

  >  "Nowainaminit,

  >  I can e'splain everything! Itsh not what you think.

  > I only had a

  > couple drinks. But this other guy got sick on me...

  > he'd had one too many

  > and he just couldn't hold his liquor. He said he was

  > very sorry an' gave

  > me twenty bucks for the cleaning bill!"

  >

  >  Jane looks in the breast pocket and says, "But this

  > is forty bucks."

  >

  > "Oh, yeah... I almos' forgot, he shit in my pants,

  > too."

Regards,

Kevin A. Boone
Accenture--Houston
(Octel) 713.837.1638
(Client) 281.848.1619
(C) 713.306.7940
(H) 713.864.4149
Kevin.A.Boone@accenture.com

Our web address is http://www.accenture.com


Robert,

This is to confirm the meeting on March the 20th at 9:00 a.m. Enron will be
represented by
Bill Bradford, Bryan Seyfried,,Vasant Shanbhogue and myself.

Could you, please, advise me what is the best hotel where we could stay
overnight,
close to your location?

Vince Kaminski
ENRON  Corp.
1400 Smith Street, Room 1962
Houston, TX 77251-1188
Phone: (713) 853 3848
Fax  :     (713) 646 2503
E-mail: vkamins@enron.com


We have received the EEI Master Power Purchase and Sale Agreements from the referenced CPs dated as listed.

Ash Grove Cement -6/5/2001
East Bay Municipal -6/13/2001

Copies will be distributed to legal and credit.


Dear Mike and Chris:

Thank you for your e-mail.? You criteria is dually noted.? In immediate
response we have several signed pieces available.? I look forward to hearing
from you.

Warm regards,

Virginia Repasky
Christopher-Clark Fine Art
Tel:

They are as follows:

Henry Moore (English 1898-1986)???? $4,900.00
TWO RECLINING FIGURES, 1974
Original etching printed in black ink on cream wove paper.? Signed in pencil
lower right Moore.? A fine impression of the definitive state, numbered in
pencil lower left "10/50," from the edition of 50.? Printed by Lacouriere and
Frelaut, Paris.? Published by Gerald Cramer, Geneva.? In excellent condition,
printed on a full sheet with wide margins.
Catalogue reference: Cramer 205
Image size: 9 1/4 x 7 7/8 inches
(G11771)
[IMAGE]

Henry Moore (English 1898-1986)???? $4,900.00
GIRL DOING HER HOMWORK IV, 1974
Original etching printed in black ink on wove paper.? Signed in pencil lower
right Moore.? A fine impression of the definitive state, numbered in pencil
lower left "19/20," from the edition of 20.? Published by Gerald Cramer,
Geneva and Spencer Co. Ltd. for the Henry Moore Foundation Much, London,
1980.? In excellent condition, printed on a full sheet with wide margins.
Catalogue reference: Cramer 329
Image size: 6 7/8 x 6 9/16 inches
(G11700)
[IMAGE]

Henry Moore (English 1898-1986)???? $4,900.00
SEATED FIGURE WITH ARCHITECTURAL BACKGROUND, 1979
Original etching printed in black ink on wove paper.? Signed in pencil lower
right Moore.? A fine impression of the definitive state, numbered in pencil
lower left "15/50," from the edition of 50.? Printed by Lacouriere and
Frelaut, Paris.?? In excellent condition, printed on a full sheet with wide
margins.
Catalogue reference: Cramer 517
Image size: 7 x 7 inches
(G11699)
[IMAGE]
Henry Moore (English 1898-1986)
MOTHER AND CHILD, 1977
Original lithograph printed in colors on T.H. Saunders paper.? Signed in
pencil lower right Moore.? A fine impression of the definitive state,
numbered in pencil lower left "21/50," from the edition of 50, apart from 15
artist's proofs.? In excellent condition, printed in bright fresh colors on a
full sheet with wide margins.
Catalogue reference: Cramer 431
Image size: 23 x 18 5/8 inches
(G11721)
Photograph upon request
?

[IMAGE]
Georges Rouault (French 1871-1958)??? $9,500.00
AUTOPORTRAIT II, 1926
Original lithograph printed in three colors (black, ochre, red-brown) on wove
paper. Hand signed in pencil lower right Georges Rouault. A beautifully
printed impression of the definitive state (etat d,finitif) in colors from
the edition of 100, numbered "69/100" in pencil lower left. In excellent
condition, with strong, fresh colors, printed on a sheet with full margins.
Catalogue reference: Chapon/Rouault 343
Image size:13 3/8 x 9 5/8 inches
Sheet size: 22 x 16 5/16
(Image shown on our web site www.clarkfineart.com)


The EnronOnline team has asked if we can discontinue sending copies of the
GTC's when EnronOnline transactions are confirmed.  They have suggested a
sentence be added to the confirmation to the effect that it is subject to the
GTC's which can be accessed on the website.  Any thoughts?


This is the letter we have been exchanging voice mails about.  I think your
quick take would be helpful in our analysis of this concept for our business
people.  MDS
---------------------- Forwarded by Mike D Smith/HOU/EES on 04/26/2001 03:16
PM ---------------------------

	Enron Energy Services

	From:  Deborah Culver                           04/26/2001 01:50 PM
	Phone No: 713-853-6463

To: Mike D Smith/HOU/EES@EES
cc: James E Keller/HOU/EES@EES
Subject: AEC Letter Agreement

FYI  At Vicki's suggestion I sent the AMEX letter for NY law review.
(Klauberg is out of pocket so Maas is getting someone in NY to take a look.)
---------------------- Forwarded by Deborah Culver/HOU/EES on 04/26/2001
01:49 PM ---------------------------

	Enron Energy Services

	From:  Deborah Culver                           04/26/2001 01:11 PM
	Phone No: 713-853-6463

To: jmaas@llgm.com
cc: Bill Rapp/HOU/EES@EES
Subject: AEC Letter Agreement

John, attached below is the letter I referenced in my call.  Changes
requested by AEC are blacklined and AEC has asked for New York law.


In this issue:

?- Blackouts...Has the Summer Arrived?

?- Additional plants continue to be announced throughout the U.S.

?- All the news, commentary, and earnings reports, plus price performance and
valuation charts.

?

?Best regards,

?Cary, Steve and Peter

 <<prometheus010511.pdf>>

Noriko Miyagi

Reed Wasden &Associates

11120 NE 2nd Street

Bellevue, WA 98004

(T) 425-467-1110

 - prometheus010511.pdf


No Burrito Next Week. WPTF General Meeting at Ojai.
gba

 - SilenceoftheMiddle.pdf


I am traveling to LA on Tuesday and will not be back until late Wed. night.(
Plus, your sister lives way the hell out of town) Any other time you are
available? I'd love to show off my kids.


NPWSAC
URGENT - WEATHER MESSAGE
NATIONAL WEATHER SERVICE SACRAMENTO CA
330 PM PDT FRI JUN 1 2001

CAZ018-020300-
CARQUINEZ STRAIT AND DELTA-

...THE NATIONAL WEATHER SERVICE CONTINUES THE WIND ADVISORY THROUGH
EARLY EVENING...

STRONG WINDS ARE CONTINUING THROUGH THE DELTA THIS AFTERNOON. WIND
SPEEDS OF 20 TO 30 MPH WITH OCCASIONAL STRONGER GUSTS WILL PERSIST
THROUGH EARLY EVENING. THE WINDS ARE EXPECTED TO DECREASE DURING THE
EVENING INTO THE 15 TO 25 MPH RANGE.

$$

BARUFFALDI

NNNN

[SFONPWSAC/991433797]

EDIS-06-01-01 1516 PDT

---------------------------------------------------------
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visit our webpage at http://www.incident.com/edismail.html.

EDIS is operated by the Governor's Office of Emergency Services,
State of California. This email relay is offered by incident.com
as a public service. Because of the complexity of this system and
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REMINDER:

 This email is to remind you that a meeting is scheduled for Monday, October
23rd from 4:00-5:00 regarding visa issues in EB38C2.


Tell me what you think.

Stephen Dowd
Enron Transportation Services
713-345-7219 (office)
713-858-8867 (mobile)


TK,

Here is the proposal from NNG on south end transportation.  Any thoughts....particularity on the one year proposal of $0.065 plus commodity and fuel?   What do you think capacity release would cost for a one year term?

Thanks, Kim.

-----Original Message-----
From: Jo.Williams@dynegy.com [mailto:Jo.Williams@dynegy.com]
Sent: Friday, February 22, 2002 1:51 PM
To: Watson, Kimberly
Subject: Transport Proposal for TW on NNG

-----Forwarded by Jo Williams/NNG/Dynegy on 02/22/2002 01:51PM -----

To: steve.harris@enron.com, kim.watson@enron.com
From: Jo Williams/NNG/Dynegy
Date: 02/22/2002 01:46PM
cc: Vernon Mercaldo/NNG/Dynegy, John Pritchard/NNG/Dynegy
Subject: Transport Proposal for TW on NNG

Please see attached proposal per our discussion regarding transportation on NNG.  Please call to discuss when you have a few minutes.  I intend to be in Houston next Wednesday, if you would like to discuss in person.  Let me know if you have a few minutes and I will try and meet up with you.


The Newark Group has withdrawn its bid for 800 MMBtu/d Needles expansion.  (After looking at the contract I sent to them, it appears their lawyers had red-lined the entire agreement and that for such a small volume it wasn't worth it!)  Not a big deal, but how should we proceed with awarding the 800/d?  I think BP would take it or maybe Oneok.  What do ya'll think?

Lorraine


please print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/16/2001
09:54 AM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Chris Connelly                           01/14/2001 11:36 AM

To: George McClellan/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Kevin
McGowan/Corp/Enron@ENRON, Tom Mcquade/HOU/ECT@ECT
cc: Peter Bradley/LON/ECT@ECT, Jez Peters/LON/ECT@ECT, Candace
Parker/LON/ECT@ECT, Kenny Nicoll/LON/ECT@ECT, Dimitri Taylor/LON/ECT@ECT,
Andy James/EU/Enron@Enron, Cornelia Luptowitsch/LON/ECT@ECT, Dorte
Kjaergaard/LON/ECT@ECT, Fiona Ryan/LON/ECT@ECT
Subject: Freight weekly report

Enron Shipping Services Weekly report 02/2001

Highlight

The cape market continues to slide ever southward with owners unable to
repeat last done on rates obtained.  Richards bay to Rotterdam rates have
fallen about $2 in 45 days ( key coal route )  and Brazil to China rates have
fallen $3 in the same period ( key iron ore route ) which has owners running
for cargo  coverage.  However charterers smell blood and are not willing to
enter into freight contracts ( Edf trading and NCSC  are playing spot and so
are we ).  Even the mighty Bocimar seems unable to turn the tide and are
offering us cheap rates on the quiet as they keep playing their vessels spot
and are  being run over.  The average cape rate has lost $ 4200 from its peak
and hangs around $20,400 presently.  To get cargo contracts for the balance
of the year an owner has to fix his vessel at around $16,000 to get
charterers willing to agree.  The downward fall is the result of two
concurrent market shifts 1- coal shipments into Europe have slowed 2- market
is predicting that sometime in Q1 2001 , Japanese steel mills will cut back
on production and reduce their raw material imports.  As a result, you have
on one side, Japanese vessel owners panicking as they fear that their main
account ( Japan ) will not need their vessels shortly and you have the
European owners also worried as they are seeing their utilities postponing
their coal requirements.  Furthermore, the holiday season in Asia is
approaching and little activity is predicted for the next few weeks.

On the panamax front, the outlook is still very bleak as you now have about
two new buildings being launched per week in a market which is currently well
balanced.  In the spot market, the Atlantic is weak as the grain out of the
US gulf is slow as the main rivers are frozen upstream and the vessels have
little to load.  In the east the market is strong as there is a flurry of
grain activity but in the paper market, February is already traded at a big
discount to Jan as people predict a quick slowdown in the activity as Asia
goes on holiday.

On the long term strucutred front, last week we agreed to charter a new cape
building starting in late 2003 for 10 years with an option for an 11th, 12
th, 13 th and 14 th year.  Furthermore, we have the option to buy the vessel
after year 3 at a fixed agreed Japanese yen amount ( if currency goes our
way, we buy the vessel dirt cheap !!!).  The counterparty in Mitsui, a big
and financially strong Japanese company.  The deal is still subject a few
details but we hope to be able to book this deal within the next 5 months
when the ship building contract will be drawn up.

Also last week we had about 6 banks over a period of three days come to our
office to discuss possible opportunities in the shipping world and to get
them to trade on EOL.  Larry Lawyer and Simon Crowe organized the meetings
and we expect a few of these leads to pay off sometime this year.

Market
	Short term	Medium term	Long Term
Handy Max	Down	Down	Down
Panamax	Flat	Flat	Down
Cape Size	Down	Down	Down

Cape

Average time charter rate: $ 20,400
Spot RBCT/Rotterdam: $ 9.30
Spot Tubaro/China: $11.30
Spot Bolivar/Rotterdam: $ 7.35

Panamax

Average time charter rate: $ 11,200
Spot US Gulf/Japan: $21.20

Deals Done
Physical Freight
ECS freight
Fixed a Cape from Keoyang from RBCT/Hunterstone at $9.40
Fixed a Panamax from Norden from Drummond/Liverpool at $ 8.50
Fixed a Panamax from Transfield from Santa marta to Hit at $10.20
Fixed out a panamax to transfield on time charter which was spot open in US
gulf
Third parties freight deals
Sold 4 Cape cargoes to Eastern Rich from Brazil to China at $9.80
OTC
FFA s
Numerous swaps on both the Cape and Panamax routes

EOL
Traded with Cargill, Edf trading, Navios and have now traded over 3 million
tons LTD

Travels
Pierre will be in Paris on Monday but Andy and I should be in all week.

Chris


Ditto credit -- except Enmax Energy Corporation authorized for ENRON Sales of WEST power only pursuant to on-line GTCs.  Not a current CP and not FERC approved.

Leslie

 -----Original Message-----
From: 	Jones, Tana
Sent:	Friday, October 05, 2001 5:32 PM
To:	Aronowitz, Alan; Calo, Andrea; Cooper, Tracy J. (EBS); Gaffney, Chris; Hansen, Leslie; Hodge, Jeffrey T.; Johnston, Greg; Keohane, Peter; Korkmas, Deb; McBride, Jane; Minns, David; Nettelton, Marcus; Powell, Mark; Rossi, Robbi; Van Hooser, Steve; Viverito, John
Subject:	FW: EOL and Clickpaper Approvals: 10-5-01

 -----Original Message-----
From: 	Lebrocq, Wendi
Sent:	Friday, October 05, 2001 4:53 PM
To:	Lambert, Karen; Jones, Tana; Schott, Samuel; Brackett, Debbie R.; Clark, Cynthia; Enron Europe Global CounterParty,; Sever, Stephanie; Moran, Tom; Clark, Claudia; Bradford, William S.; Lees, Lisa; Fayett, Juana; Morse, Jana; Le, Trang; Maley, Paul; O'day, Karen; Rohauer, Tanya; Lombardi, Kelly; Lindsay, Brian; EOL Call Center; Hare, Bill D.; Heffernan, Amy; Lafuze, Molly; Clark, Danny; Panus, Stephanie; Mandola, Teresa; Ebow, Amber; Coleman, Tandra; Campbell, Lesli; Lebrocq, Wendi; Taylor, Mark E (Legal); Lauer, Kara; Banner, Kimberly; Mcquade, Jennifer; George, Fraisy; Guillory, Michael; Rajaram, Aparna; Monterrey, Maribel; Lebeau, Maria; Escamilla, Albert; Curry, Ken
Subject:	EOL and Clickpaper Approvals: 10-5-01

Please see attached.

 << File: EOL 10-05-01.xls >>
Regards,

Wendi LeBrocq
3-3835


---------------------- Forwarded by Juan Hernandez/Corp/Enron on 03/29/2001
02:35 PM ---------------------------

Don Baughman@ECT
03/28/2001 10:36 AM
To: Juan Hernandez/Corp/Enron@ENRON
cc:

Subject: Fw: Fw: GIVE THE MAN A JOB

---------------------- Forwarded by Don Baughman/HOU/ECT on 03/28/2001 10:36
AM ---------------------------

Don Baughman
03/28/2001 09:54 AM
To: Richard Hrabal/HOU/ECT@ect, Kayne Coulter/HOU/ECT@ECT, John
Kinser/HOU/ECT@ECT, Patrick Hanse/HOU/ECT@ECT, Rudy Acevedo/HOU/ECT@ECT,
Larry Jester/Corp/Enron@ENRON, Juan Hernandez/Corp/Enron@ENRON, Joe
Errigo/Corp/Enron@Enron, Dean Laurent/HOU/ECT@ECT, Keller
Mayeaux/Corp/Enron@Enron, Doug Miller/Corp/Enron@Enron, Chad
Starnes/Corp/Enron@Enron, Joe Stepenovitch/Corp/Enron@Enron, Greg
Trefz/Corp/Enron@ENRON, Larry F Campbell/NA/Enron@Enron, Christopher
Watts/NA/Enron@Enron, Juan Padron/NA/Enron@Enron, Steve
Olinde/Corp/Enron@Enron
cc:
Subject: Fw: Fw: GIVE THE MAN A JOB

 - employment_wanted.jpg


This probably happened because he is a daily or hourly trader and in the past
we have not seen these deals to see the notes to add the contacts.  With the
change in the criteria for confirmation, we will now view these deals and add
the contacts as they come across.  If anyone has a list of contacts they want
added, please send the names and the company name and we will put them into
the system.

---------------------- Forwarded by Sharen Cason/HOU/ECT on 01/31/2001 04:43
PM ---------------------------
   Kate Symes                01/31/2001 04:20 PM

To: Sharen Cason/HOU/ECT@ECT
cc:
Subject: Re: contacts

I forwarded this e-mail on to all our traders to give them a heads up about
the new process. I did receive feedback from one trader, Mark Fischer, who
said that when he began with Enron he was always told that if a contact name
was not in the system that he was supposed to enter it into the comments
section. He did this diligently under the pretense that eventually these
names would be added to the system, but they apparently never were. He wanted
to let me know of this, especially because when the traders are hurriedly
entering deals, they probably won't always take the time to type in the
contact name in the comments section.

Let's see if we can update this list somehow. Let me know who I can contact
for this or how we can set this up.

Thanks,
Kate

	From:  Sharen Cason                           01/31/2001 07:14 AM

To: Kate Symes/PDX/ECT@ECT
cc: Kimberly Hundl/Corp/Enron@Enron, Melissa Ann Murphy/HOU/ECT@ECT

Subject: contacts

Currently, we do not confirm west deals that flow 6 days or less so we have
not had to be real difficult about contact names in deal entry.  However,
starting February 1, we are going to confirm all next day deals in the west
using the same criteria we do in the east - that is - deals 3 days or less
are sent on a confirmation that does not require a signature and everthing
else on a letter requiring a signature.  Hourly deals will not be confirmed.
So it is very important that the traders fill in a contact name when they are
entering deals.  The confirmation letter cannot be prepared without a contact
name.  It stops the whole process.  We are not going to be able to put names
in every time they do not.

If they do not see the contact they want in the drop down list,  put the
correctly spelled first and last name in the comment section in deal entry
and we will add this contact to the list and it should appear the next day.

If you can help us out with this, maybe we won't have to keep asking you for
contacts.

Thanks!