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

Friday: The CRB Index is falling 0.98 points to 213.90. The
US Dollar Index moved higher by 0.51 points to 116.88.

The Dow Industrials trended lower by 89.13 points, at 10821.31, while
the S&P 500 trended lower by 9.51 points, last seen at 1245.67. The
Nasdaq Composite softened 21.43 points to 2107.43.

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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 were lower on Friday as investors continue to mark
time ahead of next Tuesday's FOMC meeting. Light pressure came from
today's retail sales report that came in above consensus along with
an unexpected rebound in consumer sentiment. Both markets are likely
to remain range bound for the time being. It will take closes above
last week's highs or below the late-April reaction lows to clear up
near-term direction in these markets.

The Dow closed lower on Friday and below this spring's uptrend line
due to light profit taking ahead of the weekend and next week's FOMC
meeting. The latest economic data suggests that any further cuts in
interest rates by the Fed next week might be their last for the time
being. The Dow has become extremely overbought and overdue for a
correction. Closes below last week's low crossing at 10,673.20 would
signal that a larger-degree decline might be unfolding this spring.

INTEREST RATES June bonds plunged to new lows for the year following
the release of the University of Michigan's May consumer sentiment
that came in at 92.6 verses 88.4 in April. Additional pressure came
from April's retail sales data, which came in above pre- report
estimates. Odds of a 50-basis-point cut in interest rates next
Tuesday are now estimated at 73% verses 83% last Friday. Today's
breakout below the 50% retracement level of the 2000-01 rally
crossing at 99- 30 opened the door for a likely test of the 62%
retracement level crossing at 98-07 later this month. Short-term
momentum indicators have turned bearish signaling that additional
weakness is possible.

The CRB INDEX closed out the week near session lows as it extended
its decline off last Friday's high. This week's breakout below
April's uptrend line along with a downturn by a number of momentum
indicators confirmed that last week's high marked a double top while
opening the door for sideways to lower prices for the last half of
May. Weakness in grains, meats, precious metals, some foods and
energies weighed on the CRB today.

ENERGY MARKETS closed mostly lower on Friday due to profit taking
ahead of the weekend. Today's sell off in the product markets was
triggered by rumors that President Bush will take early action to
provide relief from higher energy prices. Additional pressure came
from talk that other states will follow California and attempt to opt
out of the reformulated gasoline program.

June crude oil posted a quiet inside day with a slightly higher close
on Friday as it consolidated some of this week's gains. However, June
crude remains range bound leaving the door open for two-sided action.
Momentum indicators are neutral to bullish signaling that sideways to
higher prices near-term are possible. However, it will take closes
above 30.13 or below 26.75 to clear up near-term direction in the
market.

June heating oil closed lower on Friday due to profit taking
following Thursday's test of minor resistance crossing at 77.80.
Closes above this resistance level or below 73.10 are needed to
confirm a breakout of a three-week old trading range. Momentum
indicators are neutral to bullish hinting that sideways to higher
prices near-term are possible.

June unleaded gas closed sharply lower on Friday following rumors
that President Bush will take action to provide relief from high
gasoline prices. Friday's setback led to a test of this spring's
uptrend line crossing near 105.10. Multiple closes below the uptrend
line and last week's low crossing at 101.90 would confirm a top and
trendline breakout. Momentum indicators have been showing bearish
divergence, which is often a precursor to a top and trend change.

June Henry Hub natural gas posted a downside reversal on Friday
thereby ending Thursday's short covering bounce. Additional weakness
on Monday is needed to confirm today's bearish reversal pattern as
the door remains open for a test of the 75% retracement level of the
1999/2000 rally crossing at 3.625 later this spring. The rising ADX
signals that additional weakness during May is possible.

CURRENCIES The June Dollar closed higher on Friday thereby confirming
Thursday's key reversal up. Momentum indicators are bullish signaling
that additional gains are possible next week. If this month's rally
continues, this spring's double top crossing at 117.89 is June's next
target.

The June Swiss Franc and D-mark closed out the week at or near
session lows against the Dollar following the release of the latest
U.S. economic data. Both markets are poised to test their April lows,
which mark key support levels. Closes below these lows would confirm
a downside breakout of this spring's trading range while renewing the
larger-degree downtrends. Momentum indicators remain bearish
signaling that additional weakness near-term appears likely.

The June Canadian Dollar closed sharply lower on Friday after forming
a small bear flag earlier in the week. Today's resumption of the
decline off last Friday's high sets the stage for additional weakness
during the last half of May with April's conservative uptrend line
crossing near .6414 being the next likely downside target. Momentum
indicators remain bearish signaling that additional weakness
near-term is possible.

The June Japanese Yen closed steady on Friday in two- sided trading
as it consolidated some of this week's losses. Session lows fell just
short of testing April's uptrend line, which crosses near .8166.
Multiple closes below this support level would open the door for
sideways to lower prices during the last half of May. Momentum
indicators have turned bearish and warn traders that additional
weakness near-term is possible.

PRECIOUS METALS June gold closed lower on Friday as it extended
Thursday's setback due to light profit taking ahead of the weekend.
Nevertheless, this week's upside breakout of the 2000-01 downtrend
line has confirmed that a major bottom and trend change has taken
place. Momentum indicators remain bullish signaling that sideways to
higher prices near-term are possible. If this spring's rally
continues, March's high crossing at 276.20 is June's next upside
objective.

July silver posted an inside day with a lower close as it
consolidates above the lower boundary of this spring's trading range
crossing at 4.31. Closes below 4.31 are needed to confirm a trading
range breakout and trend change. However, momentum indicators are
oversold warning bears to use caution as a short-term bottom might be
in or near. Closes above this week's high at 4.425 are needed before
a low can be confirmed.

July copper posted an inside day with a higher close due to light
short covering following Thursday's test of April's low crossing at
75.60. Multiple closes below this support level are needed to confirm
a breakout and resumption of this spring's decline. If a breakout is
confirmed, weekly support crossing at 74.10 is July's next target.
Momentum indicators are bearish signaling that additional weakness
near-term is possible.

GRAINS July corn closed out the week on a low note and near session
lows due to spillover selling following Thursday's bearish
supply/demand report. This week's breakout below key weekly support
crossing at 2.02 has both renewed this year's decline and set the
stage for the next level of weekly support crossing at 1.91 1/2 later
this month. Today's losses were limited, as traders were cautious
ahead of Monday's planting progress report and this afternoon's
extended weather forecasts. Planting delays continue plague farmers
in the western Corn Belt while dry parts of the eastern Corn Belt
received some rains during the week. I would not be surprised to see
a short covering bounce on Monday however, the bearish tone that has
engulfed the corn market will continue to limit upside potential
near-term.

July wheat closed higher on Friday as the smaller- than-expected U.S.
winter wheat crop and all-wheat production forecasts from Thursday's
supply/demand report continues to underpin the market. Gains were
limited due to weakness in the corn market. Traders will be closely
watching Monday's planting progress and crop conditions reports for
near-term direction. Closes above broken trendline support crossing
near 2.72 would temper the bearish outlook in July wheat while
increasing the odds that this week's lows marked a double bottom.

SOYBEAN COMPLEX July soybeans closed fractionally higher on Friday
due to light short covering ahead of the weekend. However, Thursday's
bearish supply/demand report and corn planting delays in the western
Corn Belt continue to limit upside potential. Momentum indicators
have become overbought and are turning neutral to bearish signaling
that May's correction in time might have come to an end. I am looking
for sideways to lower soybean prices during the last half of May with
April's low being a possible target.

July soybean meal posted an inside day with a higher close on Friday
as it consolidated some of Thursday's losses. However, upside
potential remains limited in the face of bearish soybean
fundamentals. Momentum indicators have become overbought and are
turning neutral to bearish warning traders to use caution as this
spring's corrective rebound might have come to an end. Closes below
this week's low would likely trigger additional long-liquidation next
week.

LIVESTOCK June hogs closed steady on Friday, as gains were limited
due to sharp losses in bellies. Commercial buying prompted by strong
cash bids that were up $0.50 to $1.00 higher on the day supported
prices. Sluggish hog movement and inadequate packer inventories
continue to support the cash market, which has underpinned the
late-week rally. Technically, June hogs continue to rebound off the
2000-01 uptrend line, which is to be expected following April's sharp
decline. Until this support level is broken, this spring's setback is
nothing more than a correction within a bull market.

June cattle closed lower on Friday as it posted a downside reversal.
Session highs spiked above broken support crossing at 70.52.
Additional weakness on Monday is needed to confirm today's bearish
reversal pattern. If this spring's decline resumes, last September's
low at 69.72 then weekly support crossing at 69.25 are potential
targets. Both weekly and daily momentum indicators are bearish but
nearing their respective oversold zones hinting that an important low
might be near.

FOOD & FIBER July coffee posted a downside reversal on Friday erasing
Thursday's gains. Momentum indicators have become very overbought
warning traders to use caution as a short-term top might be in or
near. July's inability to fill March's gap at 70.25 underscores the
weak tone of the market. Closes below Thursday's low at 66.25 would
confirm that this spring's short covering bounce has likely come to
an end.

July cocoa posted a huge key reversal down on Friday due to profit
taking that erased much of this week's gains. Additional weakness on
Monday is needed to confirm today's bearish reversal pattern. From a
broader perspective, July cocoa needs to close above 1103 or below
955 to confirm a breakout of this spring's trading range.

July sugar closed modestly higher on Friday as it continues to form a
small symmetrical triangle. A breakout in either direction of this
consolidation formation will point the direction of the next trending
move. If this spring's rally resumes, January's high at 941 is July's
next target. Closes below this week's low at 890 would increase the
odds that a short-term top has likely been posted.

July cotton posted a key reversal up on Friday due to short covering
ahead of the weekend. Nevertheless, Friday's high did nothing more
than test broken support crossing at 45.50. Multiple closes above
this broken support level are needed to temper the bearish outlook in
the market. If this spring's decline continues, psychological support
crossing at 40 cents is July's next downside target later this month.

Daily Extreme Commentary is brought to you by GLOBALcharts,
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Options and Optionable Stocks. http://www.globalcharts.com
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_____________________________________________________________________

T O P   N E W S
_____________________________________________________________________

STOCKS

Japan Stocks: Nikkei climbs 0.19% for first gain in 4 days
   http://news.ino.com/summary/?id=25464
Add1:US Equities Review: Down on perception next rate cut may be last
   http://news.ino.com/summary/?id=25471
UK Stocks Review: FTSE lower in uninspiring end to the week
   http://news.ino.com/summary/?id=25470

FOREX

US FX Review: Euro extends losses on strong US data, ECB rate cut
   http://news.ino.com/summary/?id=25466
Asia FX Review: Yen in tight range amid lack of stock price moves
   http://news.ino.com/summary/?id=25463
Europe FX Review: Euro extends recent losses against dollar
   http://news.ino.com/summary/?id=25465

CREDIT

US Credit Review: Plummets on reduced rate cut expectations
   http://news.ino.com/summary/?id=25461
Europe Credit Review: Curve steepens sharply on surprise ECB cut
   http://news.ino.com/summary/?id=25467
Japan Credit Review: June up on strong medium-term cash bonds
   http://news.ino.com/summary/?id=25469

COMMODITIES

US Futures Summary: Gasoline traders worry about federal action
   http://news.ino.com/summary/?id=25468

EXCHANGES

SGX Announces 3rd Quarter Results
   http://news.ino.com/press/?release=24444
NYMEX To Amend Post-Close Trading Rules
   http://news.ino.com/press/?release=24443
NYBOT Changes Index Trading Hours
   http://news.ino.com/press/?release=24442
Record April For IPE
   http://news.ino.com/press/?release=24441
HKEx Sign MOU With The Stock Exchange Of Thailand
   http://news.ino.com/press/?release=24440
CBOT/MIDAM Memorial Day Holiday Trading Schedule
   http://news.ino.com/press/?release=24439
Last Trading Day Changed For Kansas Wheat Options
   http://news.ino.com/press/?release=24438
Gerstenschlager Takes Over As Chairman Of Germany's EEX
   http://news.ino.com/press/?release=24437

____________________________________________________________________________

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

ZM1    U.S. Treasury 6% Bond Jun 2001          103 184/256   4 17/32  +4.57
LBU1   Random Length Lumber Sep 2001              303.70      9.70  +3.30
SMK1   Soybean Meal May 2001                       163.6       4.7  +2.96
SIN3   Silver Jul 2003                             4.604     0.088  +1.91
YM1    U.S. Treasury 6% 10yr Note Jun 2001     104 184/256     1 3/4  +1.70
XEK1   Soybean Meal May 2001                       161.3       2.4  +1.51
XSK1   Soybeans May 2001                             450     5 1/2  +1.23
XWN1   Wheat Jul 2001                            271 1/4     3 1/4  +1.21
KWN1   Wheat Jul 2001                                331     3 3/4  +1.15
WN1    Wheat Jul 2001                            271 1/4     2 3/4  +1.02

LOSERS

PBG2   Frozen Pork Bellies Feb 2002               67.250    -2.950  -4.20
CCZ1   Cocoa Dec 2001                               1014       -34  -3.24
HUN1   New York Harbor Unleaded Gasoline Jul 20    0.9719   -0.0291  -2.90
LHJ2   Lean Hogs Apr 2002                         51.175    -1.250  -2.39
PNZ1   Propane Dec 2001                           0.5350   -0.0125  -2.30
XHV1   Lean Hogs Oct 2001                          52.57     -1.20  -2.25
BDU1   Oriented Strand Board Sep 2001             225.00     -5.00  -2.17
DBK1   Butter May 2001                           185.000    -4.000  -2.12
USZ1   U.S. Treasury Bond Dec 2001              97 30/32  -1 27/32  -1.85
RRN1   Rough Rice Jul 2001                         5.610    -0.100  -1.75
____________________________________________________________________________

E X T R E M E   S T O C K S
____________________________________________________________________________

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

WINNERS

RSTA   ROSETTA INPHARMATICS                        17.34      7.41  +74.77
UCOR   UROCOR INC                                  15.39      3.18  +26.28
DYAX   Dyax Corp                                    9.90      2.00  +25.38
PENX   PENFORD CORP                                13.35      2.42  +22.62
GISX   GLOBAL IMAGING SYS                           7.40      1.30  +21.85
PMSI   PRIME MEDICAL SERVICES                       6.88      1.16  +20.17
SQNM   SEQUENOM INC                                16.00      2.64  +19.70
NNBR   NN INC                                       8.79      1.40  +18.92
GIII   G-III APPAREL GROUP                          9.35      1.43  +18.38
NATR   NATURE'S SUNSHINE PROD                      10.18      1.47  +16.37

LOSERS

FLCG   FRONTLINE CAP GRP                            5.85     -2.83  -32.57
MAXC   MAXCO INC                                    7.50     -1.43  -19.07
WJCI   WJ COMMUNICATIONS                            8.15     -1.70  -17.91
CWON   CHOICE ONE COMMUNIC                          6.59     -1.43  -17.83
PGTV   PEGASUS COMMUNICATIONS'A'                   21.90     -4.23  -16.22
RBAK   REDBACK NETWORKS INC                        16.40     -3.10  -15.90
ARBA   ARIBA INC                                    6.90     -1.24  -15.21
TWDE   DECS TRUST V 2002                           18.00     -3.16  -14.87
QLTI   QLT INC                                     20.25     -3.51  -14.74
INGN   Introgen Therapeutics                        6.13     -1.05  -14.66

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Deal No. Q44767.1
Does this letter look okay.  Our legal department in Calgary does not do
financial termination letters.  I got a copy of this from Joe Hunter.
Thanks,
Cindy

	Enron Canada Corp.
	3500 Canterra Tower
	400 Third Avenue S.W.
	Calgary; Alberta, Canada
	T2P 4H2
	Phone (403) 974-6700
	Fax (403) 974-6706

TERMINATION AGREEMENT
NK7821.1
 This TERMINATION AGREEMENT, dated as of October 17, 2000 (the "Agreement")
is entered into between Enron Canada Corp. (&ECC8) and Due West Resources
Inc. ("Counterparty")

W I T N E S S E T H
WHEREAS, ECC and Counterparty entered into a[n] Agreement (together with the
General Terms and Conditions of Confirmation as set forth in Annex A and any
other attachments hereto, collectively the &Confirmation8) dated as of
October 17, 2000

 WHEREAS, ECC and Counterparty have entered into Contract No.NK7821.1 dated
May 31,, 2000 (the &Transaction8); and

 WHEREAS, ECC and Counterparty desire to terminate the Transaction.

 NOW, THEREFORE, in consideration of the premises and of the mutual
agreements herein contained, the parties hereto agree as follows:

1.   Termination and Release. As of and from October 17, 2000 (the
&Termination Date8), the Transaction shall be terminated, and once the
Termination Fee is paid, both ENA and Counterparty shall be fully released
from all rights, duties and obligations under the Transaction.

2. Termination Consideration. In consideration for such Termination and
Release, ECC and Counterparty agree to enter into Transaction number
Q44767.18.1 as attached hereto.

3.   Representation. Each party hereby represents and warrants to the others
that the execution, delivery and performance hereof by it are within its
corporate powers, and have been duly authorized by all necessary corporate or
other action and that this Agreement constitutes its legal, valid and binding
obligation.

4. Governing Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Texas.

5. Counterparts.  This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.

ENRON NORTH AMERICA CORP.

By:_________________________________
Name:_______________________________
Title:________________________________

[COUNTERPARTY]

By:_________________________________
Name:_______________________________
Title:________________________________


TXsscott5

 -----Original Message-----
From: 	Motley, Matt
Sent:	Monday, May 21, 2001 10:27 AM
To:	Scott, Susan M.
Subject:	RE:

you have aol instant chat?

 -----Original Message-----
From: 	Scott, Susan M.
Sent:	Monday, May 21, 2001 8:25 AM
To:	Motley, Matt
Subject:	RE:

Didn't you know....I hold the title of Ms. Cheyenne.

 -----Original Message-----
From: 	Motley, Matt
Sent:	Monday, May 21, 2001 10:23 AM
To:	Scott, Susan M.
Subject:

You love the Cheyene Hub!


Sorry to bug you, but I have one more.


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


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Here are CES's daily volume requirements.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317

 - 03-21-00 daily volsAM.xls


Jenny,

It looks like I need to read my e-mail more often.  I'll start using it
tomorrow (Mon).

Fletch


This is a reminder for you to please take a minute and select your reviewers
for the PRC feedback.  Dave is also requesting that you provide a list of
accomplishments for the past six (6) months.

Please provide this information to your direct reports as soon as possible.

Thanks in advance for your prompt attention to this matter.  If you have any
questions, please feel free to call Kay  3-0643.

Thanks,

Kay

-


---------------------- Forwarded by Eric Bass/HOU/ECT on 01/04/2001 09:41 AM
---------------------------

	Enron North America Corp.

	From:  Eric Bass                           01/04/2001 08:42 AM

To: Chad Landry/HOU/ECT@ECT
cc: Timothy Blanchard/HOU/EES@EES, Matthew Lenhart/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@EC, Luis Mena/NA/Enron@Enron,
Brian Hoskins/Enron Communications@Enron Communications, Brian Hoskins/Enron
Communications@Enron Communications, Phillip M Love/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT
Subject: Re: FW: Big commitment

I have said it 15 times already, but I will say it again.  Texas was 4-7 in
the season prior to Mack Brown.  The program was in shambles .  Mack Brown
came in late and was unable to salvage a recruiting class his first year.  Lo
and behold Texas goes 9-3, beat Nebraska in Lincoln (No. 3 at the time with
the longest home winning streak in recent history), and destroys Miss St in
the Cotton Bowl.   Those sound like some big wins don't they?  Does it sound
familiar?  I doubt you can compare the teams that LSU beat with the teams
Texas beat.  So my point is that players get up for new coaches.  You, as LSU
fans,  fans can expect about the same next year as this year.
Next year, is Texas' year ( and I know what you will say " well that is what
you say every year"), but Mack's first true recruits will be juniors and his
first class (half his/half Mackovics) will be seniors.  So, if he doesn't win
the big game next year, then you can call him a bad coach.  I have a problem
saying he is  a bad coach after he has put together 3 straight 9 win seasons.

As a side note,  look who won the national championship game - the Big 12.
If I am not mistaken, that makes the big 12 4-3  in the bowls while the Sec
was 4-5.  If not for a bumbled extra point and a few dropped passes the 12
would be 6-1 and the sec 3-6.  I see the beginnings of a new college fb
powerhouse conference.  The Big 12 will win at least the next  2 NCs.

See ya

Chad Landry
01/03/2001 09:30 PM
To: Eric Bass/HOU/ECT@ECT
cc: Timothy Blanchard/HOU/EES@EES, Matthew Lenhart/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
Subject: Re: FW: Big commitment

Looks like you guys have been having some fun during my absence.  I have a
question:  How many top recruiting classes does it take for Texas to win a
few big games in a single football season.  Dinnardo left LSU's recruiting
program in shambles.  Last year was one of the worst recruiting seasons in
LSU team history.  However, WE still managed to pull off some amazing team
victories this year.

If there is one thing I learned from watching LSU this season, its that its
nice to have talent on your team but its more important to have HEART and
PRIDE.  So keep watching your Texas big names choke and I'll keep watching
our TIGER No-Names win.

As Always, its all in Good Fun.

CKL

	Enron North America Corp.

	From:  Eric Bass                           01/03/2001 04:08 PM

To: Timothy Blanchard/HOU/EES@EES
cc: Matthew Lenhart/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Chad
Landry/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
Subject: Re: FW: Big commitment

Oh yeah, and by the way here are the rankings . . .

http://louisianastate.rivals.com/default.asp?sid=40&p=58&sp=1
---------------------- Forwarded by Eric Bass/HOU/ECT on 01/03/2001 04:06 PM
---------------------------

	Enron North America Corp.

	From:  Eric Bass                           01/03/2001 04:06 PM

To: Timothy Blanchard/HOU/EES@EES
cc: Matthew Lenhart/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Chad
Landry/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
Subject: Re: FW: Big commitment

Wilkerson is the number 3 prospect in the country at lineman behind Johnathon
Scott a commitment of guess who - Texas.

http://louisianastate.rivals.com/default.asp?sid=40&p=3&sp=1&pl=-13604
                      Wilkerson
http://longhornlink.rivals.com/default.asp?sid=798&p=3&sp=1&pl=-12695
                           Scott

To: Eric Bass/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT, Chad Landry/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT
cc:
Subject: FW: Big commitment

Raiding Texas baby!
---------------------- Forwarded by Timothy Blanchard/HOU/EES on 01/03/2001
03:44 PM ---------------------------

David Fontana
01/03/2001 03:42 PM
To: Timothy Blanchard/HOU/EES@EES
cc:
Subject: FW: Big commitment

Go Tigers!!!!!!!!!!
---------------------- Forwarded by David Fontana/HOU/EES on 01/03/2001 03:42
PM ---------------------------

ZamettoM@gtlaw.com on 01/03/2001 03:36:50 PM
To: David.Fontana@enron.com, Alex_Dmytraczenko@radian.com,
Mark_Locke2@es.adp.com
cc:
Subject: FW: Big commitment

-----Original Message-----
From: Scott Cullen [mailto:scullen@dwyercambre.com]
Sent: Wednesday, January 03, 2001 4:22 PM
To: Turner (E-mail); Bras (E-mail); Mark Zametto (E-mail)
Subject: Big commitment

We got a huge commitment today from big Ben Wilkerson, center out of
Hemphill, TX.  He is rated by Rivals as the #1 lineman prospect in the
country, and it is very rare for a center to rate so high on their list.
They keep rolling in; Marcus Spears is expected to announce on Friday.

This e-mail contains information that is confidential/privileged or both.
This information is intended only for the use of the individual or entity
named on this e-mail transmission.  Any disclosure, copying, distribution or
use of this information by any person other than the intended recipient is
prohibited.  If you have received this e-mail in error, please destroy
immediatley and contact sender.


----- Forwarded by Richard B Sanders/HOU/ECT on 02/27/2001 08:57 AM -----

	Ron Tapscott
	02/27/2001 08:08 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Doyle Peaking Plant #1 Unit, Monroe, GA - Mechanical Breakdown

fyi per earlier e-mail.  thanks, ron.
---------------------- Forwarded by Ron Tapscott/HOU/ECT on 02/27/2001 08:08
AM ---------------------------

James L Bouillion
02/08/2001 09:30 AM
To: Ron Tapscott/HOU/ECT@ECT, Russ Porter/Corp/Enron@ENRON
cc: David Marshall/HOU/ECT@ECT
Subject: Doyle Peaking Plant #1 Unit, Monroe, GA - Mechanical Breakdown

Hopefully this provides what you are looking for, however, there is more to
come.

Please note the fourth paragraph requesting the total labor and expenses for
the "big picture".  This was discussed at our first meeting and hopefully,
you can produce same or make it available to him for inspection.

Also, we need to quickly resolve the "missing System 700 book".  If it
exists, lets produce it.  If not, we need to advise that it was
miscommunication or whatever, but we need to do so soon.

I thought we were going to advise that we had appointed a "point" person to
deal with extracting information from the subcontractors.  Apparently this
was not communicated to Claude.  Do you want to re-consider allowing him to
go direct?
---------------------- Forwarded by James L Bouillion/HOU/ECT on 02/08/2001
09:15 AM ---------------------------

"Chandler, Claude" <claude.chandler@fmglobal.com> on 02/07/2001 04:07:41 PM
To: Jim Bouillion - Enron <james.l.bouillion@enron.com>, Russ Porter - Enron
<Russ.Porter@enron.com>, Ron Papscott - Enron <ron.papscott@enron.com>
cc: Ray Ward - JL Wortham & Son <rward@jwortham.com>, "Whitt, Russell"
<russell.whitt@fmglobal.com>, "Henderson, David"
<david.henderson@fmglobal.com>, "Meyer, Paul" <paul.meyer@fmglobal.com>, Tom
Trueb - Dean-Oliver <ttrueb@dean-oliver.com>
Subject: Doyle Peaking Plant #1 Unit, Monroe, GA - Mechanical Breakdown

Jim/Russ/Ron,

This will confirm our tele-conference this AM on the pending claim filed on
behalf of Doyle.

Unfortunately, my meeting at Dean-Oliver did not fully take place on the
intended scope as Charlie McCorkle had to take his wife to the doctor on an
unexpected trip.  I am out of town until Friday, but we do plan on meeting
Friday afternoon, I will respond on any additional information outstanding.
(Charlie had Kelly McKenzie's book with him)

You had ask that I further explain our deductions on the reduced Craft Labor
hours detailed in my last letter.  In our December meeting it was noted that
NEPCO was in a support roll to Elliott on the rebuild.  NEPCO had their most
involvement at the very beginning and very end of the repairs.  The repair
area had its own trailers, parts warehouse and staging area.  We discussed
in the meeting that the support roll essentially would take a Supervisor and
three employees per shift or about eight per 24 day.  In review of the
submitted labor it is noted that an average of three Start-up Employees
charged their full day to this job from 6/15 up to 7/3, then 4 up to 7/17,
then 6+ up to the final completion of repairs, 7/23.  At the same time,
Office Staff employees averaged charging up to 8 employees per day, day
shift, during the repair time and continued to charge labor up to a month
after.  The Craft Labor group charged an average of 11 employees per day
charging all of their work day to the repairs.  When you average it out, you
had around 13 support personnel for an Elliott crew on every shift (24
hours), when the Elliott crew consisted of about 13 to 15 persons.  This
would account for between 25 to 30 people (without consultants &
sub-contractors) time charged working every hour, 24 hours the entire time.
Add the consultants/subcontractors and it goes up to a minimum of 30 people.
This is unrealistic by any standard and cannot be explained away as an
inefficiency of site versus shop work.

One of our requests in our meeting in Houston was that additional
information concerning the total labor and expenses charged to the entire
site be made available to see the "big picture" of the site labor and
expense charges on a weekly or monthly basis.  This additional information
or it's location has not been forthcoming to date.  There has to be some
type of summary cost details which Doyle was billed on a per Unit basis.

I also noted that I would comment on differences in scope of repair, thus a
lesser measurement of the loss & payable claim.   I have been commenting on
differences in scope since my first letter and subsequently as information
has been made available.  The major scope differences are:
1. Partial vs. full stationary and rotor blades
2. Repaired versus replaced 1st Stage Turbine Buckets & Nozzles
3. Use of "old" designed stub shaft vs. purchase of "new" designed stub
shaft
4. Overscope of repairs by Preco on work completed in their shop.
5. Elliott overscope of repairs associated with some of the above items,
misalignment and other items noted in my e-mail of 1/24 (including work
completed on Units #2 & #3).
6. NEPCO labor charges noted above.

There are a number of lessor items.  If the meeting this Friday takes place,
I will respond as fully as possible to the claim next week based on
documentation we have received to date.  It is unfortunate that there was no
"System 700" or similar type book completed on the repairs.  Our discussions
in Houston and up until recently indicated that this was an SOP at NEPCO.
As I noted the Kelly McKenzie book is not a complete view of the repairs
made.

The request to directly contact sub-contractors to discuss their scope of
work in my last letter has not been responded to.

Once again, I will e-mail you after our meeting Friday with any requested
support items that were to be included in this e-mail.

Claude


Attached is the management Report for Feb 24, 2000.

External Trading

 Total  24-Feb-00  To Date

 Number of Transactions   983   34,289
 Gross Notional Value $   258,555,094   10,940,945,355

 Revenue from Physical flows to date ($)    357,573,682

 Number of New Counterparties transacting today    4
 Number of Counterparties having transacted to date    226

 N.A. Gas

 Number of Transactions   801   28,371
 Volume of Transactions (mmbtu's)   132,759,574   5,623,731,527
 Gross Notional Value $   185,910,567   8,836,748,157

 UK Gas

 Number of Transactions   21   1,842
 Volume of Transactions (mmbtu's)   2,937,500   230,851,500
 Gross Notional Value $   5,901,258   462,088,010

 Belgium Gas

 Number of Transactions   -     75
 Volume of Transactions (mmbtu's)   -     15,555,000
 Gross Notional Value $   -     30,465,447

 U.S. Power

 Number of Transactions   119   2,912
 Volume of Transactions (MWh's)   1,244,721   22,946,455
 Gross Notional Value $   45,760,484   809,480,694

 UK Power

 Number of Transactions   5   148
 Volume of Transactions (MWh's)   302,280   6,515,593
 Gross Notional Value $   11,789,563   254,511,152

 Swiss Power

 Number of Transactions   1   24
 Volume of Transactions (MWh's)   89   40,266
 Gross Notional Value $   1,510   897,272

 German Power

 Number of Transactions   24   167
 Volume of Transactions (MWh's)   185,765   1,353,303
 Gross Notional Value $   3,539,236   25,611,968

 Spanish Power

 Number of Transactions   2   6
 Volume of Transactions (MWh's)   6,034,248   17,713,650
 Gross Notional Value $   175,132   631,836

 Norwegian Power

 Number of Transactions   4   91
 Volume of Transactions (MWh's)   84,720   1,654,944
 Gross Notional Value $   1,294,423   24,322,326

 Crude & Products

 Number of Transactions   -     233
 Volume of Transactions (BBl's)   -     25,767,697
 Gross Notional Value $   -     352,893,001

 Petchems

 Number of Transactions   1   34
 Volume of Transactions    8,000   296,000
 Gross Notional Value $   3,240,000   33,512,900

 LPG

 Number of Transactions   3   161
 Volume of Transactions (BBl's)   24,000   1,856,000
 Gross Notional Value $   816,000   63,566,000

 U.S. Coal

 Number of Transactions   1   74
 Volume of Transactions (st)   3   2,033,328
 Gross Notional Value $   126,000   25,674,683

 U.S. Pulp & Paper

 Number of Transactions   -     4
 Volume of Transactions (st)   -     2,550
 Gross Notional Value $   -     1,500,750

 Emmissions

 Number of Transactions   -     58
 Volume of Transactions   -     145,000
 Gross Notional Value $   -     18,982,650

 U.S. Weather

 Number of Transactions   1   89
 Volume of Transactions    1   94
 Gross Notional Value $   920   58,510

 UK Weather

 Number of Transactions   -     11
 Volume of Transactions    -     11
 Gross Notional Value $   -     3,061

 Number of Users Logging onto EnronOnline:
 External Users with Execution rights    763
 External Users with No Execution Rights    95

 Internal Trading
 24-Feb-00  To Date
 Gas

 Number of Transactions   101   2,325
 Volume of Transactions (mmbtu's)   47,172,678   936,595,782
 Gross Notional Value $   90,047,730   1,597,151,851

 Power

 Number of Transactions   18   58
 Volume of Transactions (MWh's)   289,204   752,271
 Gross Notional Value $   6,994,291   23,157,566

 Coal

 Number of Transactions   -     -
 Volume of Transactions (st)   -     -
 Gross Notional Value $   -     -

 Emmissions

 Number of Transactions   -     -
 Volume of Transactions (st)   -     -
 Gross Notional Value $   -     -

 Total

 Number of Transactions   119   2,383
 Gross Notional Value $   97,042,022   1,620,309,417

Regards

Louise


CONTINUING STUDENTS:

From now until Friday, May 11 you will have an opportunity to add and drop
classes by e-mailing tj@haas.berkeley.edu.

(If you are satisfied with your schedule, you don't have to e-mail me.)

In your e-mail, please indicate the classes you want to add and
drop.  Other students may want to add your dropped classes and
we'd like to let them know in May, rather than in August.  On Monday, May
21, we will again confirm your Fall 2001 class schedule by e-mail.

Textbooks and readers will be ordered for you based on this confirmed
schedule.

NO CHANGES TO SCHEDULES FROM MAY 12 - AUGUST 26.


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 11/02/2000
10:41 AM ---------------------------
From: Jenny Rub@ENRON on 10/31/2000 01:25 PM
To: Jeffrey A Shankman/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Kevin M
Presto/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT,
Jim Fallon/Enron Communications@Enron Communications, Hunter S
Shively/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT, Beth Perlman/HOU/ECT@ECT,
Bob McAuliffe/Corp/Enron@ENRON, Keith Dziadek/NA/Enron@Enron, Martin
Bucknell/LON/ECT@ECT, Henry Terech/EPSC/HOU/ECT@ECT, Bill
Donovan/EPSC/HOU/ECT@ECT, Robert Knight/HOU/ECT@ECT
cc: Peggy McCurley/HOU/ECT@ECT, Susan Jones/Corp/Enron@ENRON, Cindy
Adams/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT, Thais
Hensch/Corp/Enron@ENRON, Kimberly Hillis/HOU/ECT@ect, Nina
Garcia/EPSC/HOU/ECT@ECT, Daisy Yanez/Corp/Enron@Enron, Jennifer
Burns/HOU/ECT@ECT, Tamara Jae Black/HOU/ECT@ECT, Elaine Brown/HOU/ECT@ECT,
Therese Candella/Enron Communications@Enron Communications, Tara
Soyal/EPSC/HOU/ECT@ECT, Stuart Fieldhouse/LON/ECT@ECT
Subject: Dealerboard Vendor Executive Presentation

We are in the final selection phase of dealerboards for our new trading
floor.  Two vendors have been asked to come in an present executive overviews
of their products, company and future direction.  The attached document
contains the dates, times and location of the briefings (IPC Information
Systems and BT Syntegra).

If you have any questions regarding this invitation, please contact Stuart
Fieldhouse at x35699.

Thanks.    Jenny Rub


(See attached file: The Day Ahead US_May 2.pdf)

      Carr Futures
      150 S. Wacker Dr., Suite 1500
      Chicago, IL 60606  USA
      Tel:  312-368-6149
      Fax:  312-368-2281
      soblander@carrfut.com
      http://www.carrfut.com
 - The Day Ahead US_May 2.pdf


Please respond to kevinscott
Steve

This is a draft of the contact  list I promised you.  There are still some typos in it.  I will clean  them up and get send you a draft in the morning that is ready for  circulation.

This list is made up  of people that I know and trust.  By an large I have excluded  sitting pubic officials.  In cases where a given organization has several  useful contacts with similar knowledge, I have listed just one person for  now.

Give me a call at your  convenience, and we can discuss this in great detail.

Kevin
213-926-2626
 - Kevin Scott -  Key Contacts - Draft.doc


VIRAL GENETICS, INC.

	December, 2001
HIGHLIGHTS

*	Viral Genetics has developed a revolutionary new technology called TNP which, based
on clinical results to date, not only
stops but also reverses the progression of HIV infection in people.
*	TNP is an extracted, naturally occurring, biologically active linear protein which, when
purified and modified, greatly
stimulates the body's immune response system.
*	Three months after an eight week TNP treatment, 8 out of 10 terminally ill AIDS
patients in clinical trials show virtually no
sign of HIV infection.
*	TNP treated patients display virtually no side effects to treatment.
*	TNP technology is patented in 16 countries and patent pending in Canada and the U.S.
*	Treatments are far less costly and less cumbersome than currently employed
alternatives.

OVERVIEW

Viral Genetics, Inc. was founded in 1995 to develop and commercialize therapeutic and
diagnostic systems for the treatment of
viral diseases.  Their primary focus has been on finding a treatment which would stop and
reverse the progression of HIV
infection in humans.  After expenditures in excess of $8M, Viral Genetics developed their
core technology - TNP (Thymus
Nuclear Protein).

Since TNP's discovery, Viral Genetics has conducted numerous animal studies and three
human clinical trials.  Each human trial
consisted of 10 to 20 patients in the late stages of infection.  TNP was administered by intra-
muscular injection bi-weekly over
an eight week period.  Follow up was carried out on all the patients anywhere from 50 to
667 days after treatment.  The trials
revealed the following incredible results with respect to TNP's efficacy and safety:

-	HIV viral levels were reduced by 90% even 18 months after treatment.
-	Patients experienced minimal side effects during treatment which completely subsided
after treatment and remained that way
even 18 months after treatment.
-	Dramatic reductions occurred even with HIV resistant strains that no Antiviral Drug
Cocktail has shown any efficacy with
whatsoever.
-	Most patients started to regain body weight during and after TNP treatment.

Viral Genetics is in discussions with a number of world wide governments to commercialize
the TNP technology.

STRUCTURE

	Listed:	OTCBB	Symbol:	VRAL
	Shares Outstanding:	37.11M	Public Float:	3.20M
	Warrants:	none	Options:	none
	Website:	www.viralgenetics.com <http://www.viralgenetics.com>	Recent
Price:	$1.40
	Share Price High:	$3.50	Share Price Low:	$0.40

For further information, please contact:
Alternative Capital Group (416) 601-0076


Gary, I have not heard much more on this issue - are you ok with this?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 06/15/2000
08:54 AM ---------------------------

John Sherriff
06/15/2000 12:51 AM
To: Mark Frevert/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron@Enron, Gary Hickerson/HOU/ECT@ECT, Jeff
Kinneman/HOU/ECT@ECT, Bryan Seyfried/LON/ECT@ECT
cc:
Subject: Draft Organization Announement

It looks like we have agreement on the change below but before we send this
out can you please review and comment:

In order to streamline all of our commercial credit trading activities
globally, Jeff Kinneman's Debt Trading team has been merged with
EnronCredit.com.  All global credit trading and EnronCredit.com activities
will co-headed by Jeff Kinneman in Houston and Bryan Seyfried in Europe and
the group will report to John Sherriff - CEO of  Enron Europe.

We wish both Jeff and Bryan well in their expanded roles.


Start Date: 4/27/01; HourAhead hour: 18;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042718.txt


which question?  i don't know what i am going to do yet?  what do you think?


Sounds good to me.

We really need to get this amendment signed today.  Please do what you can to
expedite.

Thanks,

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 01/05/2001 08:28
AM ---------------------------

"George Kutzschbach" <gkutzschbach@fulbright.com> on 01/04/2001 07:23:30 PM
To: CCampbell@KSLAW.com
cc: Kay.Mann@enron.com, DPedigo@INTERGEN.com

Subject: ENA/Sweetgum Amendment Letters

Carolyn,

It has been brought to may attention that Section 3.2 of both of the
LLC Agreement forms that were initialed on December 27 incorrectly
states that SEL is a Delaware limited liability company rather than a
Delaware limited partnership.  Since the amendment letters purport to be
all inclusive, they should be further amended by inserting the following
sentence in an appropriate place in the two amendment letters for the
turbine generator sets:

"The Parties further agree that Section 3.2 of the LLC Agreement to
which reference is made in the Original Agreement will be amended as
appropriate to reflect that SEL is a Delaware limited partnership and
not a Delaware limited liability company."

George


Saw this and thought of you.

Congratulations on the new baby.  You know, I am not sure which is more stressful, having a baby or being at Enron the last few days.

See you when you get back.

GP

 -----Original Message-----
From: 	Bucknell, Martin
Sent:	Friday, November 09, 2001 4:32 PM
To:	Rub, Jenny; Pickering, Mark; Piper, Greg
Subject:	FW: Move to Enron Center south

FYI

 -----Original Message-----
From: 	Lavorato, John
Sent:	Friday, November 09, 2001 4:24 PM
To:	Bucknell, Martin
Subject:	RE: Move to Enron Center south

Yes

I want to move next weekend.  If we can start at 2 PM on Friday it would be fine.

 -----Original Message-----
From: 	Bucknell, Martin
Sent:	Friday, November 09, 2001 3:20 PM
To:	Lavorato, John; Colwell, Wes
Cc:	Donovan, Bill; Rub, Jenny; Cline, Paul
Subject:	Move to Enron Center south

John,

After your conversation with Paul yesterday, we have evaluated the option of moving all of GAS and POWER next weekend, we will be able to move everyone in a single move, however we will need a firm commitment by midday Tuesday, in order for us to get the workforce, move the broker lines and all the other tasks associated with this scale of move.

If you would like to proceed, please let me or Bill Donovan know as soon as practicable, so we can facilitate the migration.

If we do not move next weekend, this will cause real problems with the resources and contracts in place, staff and suppliers are on vacation through thanksgiving and the move data will soon be out of date which will need to be reconciled which would increase the cost.

Martin Bucknell


Directions to my house.

We will see between 5:15 and 5:30 Monday.

West of the Galleria, take San Felipe down to Fountainview and take a left.
You will pass the Rice Epicurean store on your right.  Go straight to the
first light, take a right on Burgoyne.  You will pass through Potomac and
Nantucket, continue into Briar Grove neighborhood.  When you come to the stop
sign, take a right on Briar Ridge.  My house is on the southwest corner of
the next intersection, Meadow Lake and Briar Ridge.  My ophone number is
713-780-1022.

Sincerely,
Mike Grigsby


Guys can you give me a view on Q4 earnings ie) deals and value.

Regards
Delainey


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

Keep in touch,

Chris


Attached is the Enron Americas Gas Trading VaR violation for May 10, 2001.  The Office of the Chairman for Enron Americas is responsible for printing out a hard copy of this memo, signing it and returning the hard copy to Chris Abel who will forward it to RAC to obtain their signature.


here it is.  df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 12/18/2000
09:09 AM ---------------------------

	From:  Donna Martens                           12/15/2000 05:23 PM

To: Dorothy McCoppin/FGT/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Mary
Darveaux/ET&S/Enron@ENRON, Lorraine Lindberg/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Earl
Chanley/ET&S/Enron@ENRON, Ronald Matthews/ET&S/Enron@ENRON, Arnold L
Eisenstein/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, JERRY
MARTIN/ENRON@enronxgate, Patrick Brennan/ET&S/Enron@ENRON, Dave
Waymire/ET&S/Enron@ENRON, Keith Petersen/ET&S/Enron@ENRON, James
Centilli/ET&S/Enron@ENRON, Johnny McGee/OTS/Enron@ENRON, Randy
Rice/OTS/Enron@ENRON, David Roensch/ET&S/Enron@ENRON, Rich
Jolly/ET&S/Enron@ENRON, Rick Smith/ET&S/Enron@ENRON, Tim
Kissner/ET&S/Enron@ENRON, Norm Spalding/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Dave Waymire/ET&S/Enron@ENRON, John R Keller/OTS/Enron@Enron, Mary Kay
Miller/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON
cc:

Subject: Gallup Mods

Attached is a draft application, including exhibits, requesting FERC approval
to replace the existing 10,000 HP driver at the Gallup Compressor Station
with a 15,000 HP (Service factor 1.1).  Please review, provide coments, and
sign and fax the FERC authorization form (7592 in Omaha) to me no later than
3 P.M. on Tuesday, 12/19.  Any questions, please let me know.  Thanks.  Donna


Thanks - I love you


Hey Team.  I need the following services set up on National Fuel.

IAS  <== we just created k# A02353
ISS  <== I think we already have this set up on k#H02262
FSS  <== Nat Fuel has not assigned this contract to us yet.

Believe me, this all happened really fast.  I just sent some of the paperwork
to legal and I need it back by Monday morning.

---------------------- Forwarded by Chris Germany/HOU/ECT on 06/23/2000 03:53
PM ---------------------------

Chris Germany
06/23/2000 02:35 PM
To: Beverly Beaty/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Victoria
Versen/HOU/ECT@ECT, Molly Johnson/HOU/ECT@ECT, Alvin
Thompson/Corp/Enron@Enron, Angie Zeman/Corp/Enron@ENRON, Cindy
Vachuska/HOU/ECT@ECT, Clarissa Garcia/HOU/ECT@ECT,
pvillag@columbiaenergy.com, Scott Goodell/Corp/Enron@ENRON, Judy
Townsend/HOU/ECT@ECT, Dan Junek/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Robin
Barbe/HOU/ECT@ECT, Maureen Smith/HOU/ECT@ECT, Scott Hendrickson/HOU/ECT@ECT,
Sarah Mulholland/HOU/ECT@ECT, Brenda H Fletcher/HOU/ECT@ECT, Alicia
Perkins/HOU/ECT@ECT, Crystal Hyde/HOU/ECT@ECT, David Oliver/HOU/ECT@ECT,
Scott Neal/HOU/ECT@ECT
cc:
Subject: New and Exciting National Fuel Deal

We have a new Park & Loan / Storage deal on National Fuel effective
6/23/2000.  National Fuel transferred 1,000,000 dth from our parking contract
to our brand new firm storage contract.  We are now long FSS and short PALS.

FSS
 We have the rights to withdraw on a firm basis up to 33,333 dth per day.
However, we need to call and get permission to withdraw more than 33,333 dth
on any given day.  Also, the withdrawal takes place at an interconnect, like
Trco-Leidy.  We do not have to ship the gas on Nat Fuel.

IAS
We give Nat Fuel the gas back on an IT basis via our IAS agreement (Nat Fuel
is still setting up the contracts).  We can give Nat Fuel the gas back at any
point we wish.  We do not have to pay back the gas at the same point we
withdraw on the FSS.  And we can pay back the gas before we withdraw it.

COST
What we will probably do most of the time is take the FSS into Trco at Leidy
and payback the IAS agreement at Niagara and Leidy.  ENA will pay Nat Fuel
1,000,000 dth x ($.125 / 3 months) or $41,666.67 per month for June, July,
and August.  This deal is over on Aug 31st.  I just entered the demand charge
on my Market East demand charge sheet.  I do not have any deals set up in
Sitara.  I need to see the contracts from Nat Fuel first.  I will keep track
of the balances on an Excel worksheet.  All commodity cost and fuel is
capured in the $.125 demand charge.  Beavy and I will make sure the payback
and withdrawal tickets are balanced in Sitara once we start flowing gas on
this deal.  If we payback 60,000 dth next week and we do not have any
withdrawals, then I will show a 60,000 dth withdrawal on 8/31/2000 just to
keep the tickets balanced.

Payback Techniques
Under the expert eye of the wonderfull, superfantastic, all-around great guy,
Dick Jenkins, I've come up with some options on paying back the gas.

Niagara - only works when Niagara is open.  Nat Fuel has been very close to
capacity this week.  However, we should always see what Martin can do with
the gas if it gets backed up into TCPL.  OR if Niagara is constrained, we can
ship the gas on our firm Nat Fuel contract then pay it back to Nat Fuel, at
today's prices that cost about $.105

Wadd - take our Tenn Z6 length into CNG via Iroq, ship it to Trco- Leidy, and
payback the gas at Leidy.  At today's prices, that cost about  $.055,
assuming we get to roll over all of our CNG fuel waivers.

Tenn -   we just need to see what type of IT rate Dan can get to ship the
Gulf to Tenn Z4 (Ellisburgh).  We can also move the Dracutt to Nat Fuel on
segmented capacity for $.145 or  move Wright to Nat Fuel for $.11.  We cannot
use the Net 284 contract on any of the Tenn / Nat Fuel interconnects.

Let me know if you have any questons.


whats your extension

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Tuesday, March 12, 2002 2:46 PM
To:	Parks, Joe
Subject:	RE: whats up

Simple mind

 -----Original Message-----
From: 	Parks, Joe
Sent:	Tuesday, March 12, 2002 2:46 PM
To:	Hayden, Frank
Subject:	RE: whats up

simple answer

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Tuesday, March 12, 2002 2:45 PM
To:	Parks, Joe
Subject:	RE: whats up

nothing

 -----Original Message-----
From: 	Parks, Joe
Sent:	Tuesday, March 12, 2002 1:56 PM
To:	Hayden, Frank
Subject:	whats up


-----Original Message-----
From: 	"Tom Dobson" <tomd@amerexenergy.com>@ENRON
Sent:	Thursday, December 06, 2001 2:57 PM
To:	Mckay, Jonathan
Subject:	Quotes1206.xls

 - Quotes1206.xls


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/31/2000
03:02 PM ---------------------------

Zimin Lu
03/31/2000 01:44 PM
To: Vince J Kaminski/HOU/ECT@ECT, Maureen Raymond/HOU/ECT@ECT
cc:
Subject: PPI Index Short-Term Models

---------------------- Forwarded by Zimin Lu/HOU/ECT on 03/31/2000 01:43 PM
---------------------------

Anjam Ahmad
03/21/2000 04:10 PM
To: Martina Angelova/LON/ECT@ECT, Trena McFarland/LON/ECT@ECT
cc: Dale Surbey/LON/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Zimin
Lu/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
Subject: PPI Index Short-Term Models

Hi Martina & Trena,

I made a few minor changes to the models...  I reckon these models can be
checked in Houston now - the raw data is included (see attached spreadsheets)
and all the regression parameters and main statistics are displayed.  I
became interested in how far DZCV and PLLU should be below RPI and whether
this model is reflecting any reversion to the RPI level; I believe that the
forecasts are accurately reflecting this.  Please see graphs below:

Both models really need our RPI curve to be linked (at the moment I have just
copied the 2.3% number forward).  Because the auto-regressive error term is
not very important, we can run the models forward with reasonable
confidence.  As I mentioned, I don't think we can really run this model more
than 12 months, in fact, I think we should run for 9-12 months and blend the
next 3-4 months out with the long-term model.

Hope I can fix the long-term ones now with some new insight!

Regards,

Anjam
x35383

PLLU:    DZCV:


T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


Return Receipt

 Your
 document:

 was received Liane Kucher/ST/FIS
 by:

 at:          03:44:15 PM Today


Under FINANCIAL MATTERS: BILLING, INVOICE DATE, CHARGES AND PAYMENT in
Appendix 1, I propose the following revised wording since we are not able to
provide a purchase order number at this time:

"Invoices for payments and correspondence for this Agreement must reference
Buyer's Purchase Order Number if such has been provided to Seller prior to
the first (1st) Business Day following the month of Gas deliveries.  If the
Purchase Order Number has been timely provided to Seller, invoices which do
not reference Buyer's Purchase Order Number will be returned unpaid.  All
invoices shall include any supporting documentation necessary to verify the
charges billed."

-----Original Message-----
From: Pfister, Christian W.
Sent: Friday, December 15, 2000 5:49 PM
To: 'Dan.J.Hyvl@enron.com'
Subject: FW: FW: Enfolio Contract with CPS

Mr. Hyvl,

There was one change that you did not make that I requested.  It was
difficult to tell since only a single word was bolded.

APPENDIX "1"  FINANCIAL MATTERS  BILLING, INVOICE DATE, CHARGES AND PAYMENT

"Buyer shall remit any amounts due on the 25th day of the Month in which
Seller's statement was received.  If the due date for any payment to be made
under this Agreement is not a Customer's Business Day, the due date for such
payment shall be the following Customer's Business Day."

There are very few instances where our Business Day would be different from
your business day.  However, as an example, the day after Thanksgiving is a
CPS holiday.  This year, we had a gas payment due on that date which we sent
on the following Monday.  This is probably the only holiday CPS has that
your company may not have.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Friday, December 15, 2000 4:57 PM
To: CWPfister@cps-satx.com
Subject: RE: FW: Enfolio Contract with CPS

Christian,
     Attached is the modified contract with the changes you requested.
Please print off 2 originals and have them signed.  Please fill in the
purchase order number information on the invoices section of Exhibit A.  If
the number is not available, them please delete the information requiring
the number from the billing and payment provision.  Forward the signed
copies to me or Janet Wallis and we will proceed with execution by ENA.
(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>

                    -satx.com>            cc:

                                          Subject:     RE: FW: Enfolio
Contract with CPS
                    12/15/2000

                    04:16 PM

Unfortunately, we don't have a purchase order issued yet so I can't give
you
a number.  I know that would make it easier for you guys, but I don't think
we can issue one until right before the first gas purchase.  First, a
purchase requisition needs to be issued.  Then, a purchase order will be
released following approvals by the various individuals authorized to sign
off on them.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Friday, December 15, 2000 4:13 PM
To: CWPfister@cps-satx.com
Cc: Janet.H.Wallis@enron.com
Subject: RE: FW: Enfolio Contract with CPS

Christian,
     If the purchase order number will be the same for all deals under the
contract, can you give me the number so that I can include it as a part of
your address for Invoices.

 - CITYPublicServiceSanAntonio.doc


I am out and will not check emails until Tuesday, October 23, 2001. Please feel free to leve voicemail messages (713-853-6942) which I will check periodically.


TASK ASSIGNMENT

Task Priority:		2
Task Due On:		3/6/1999
Task Start Date:	3/6/1999