Michael,

Here is the Northern Border Pipeline draft stipulation that ENA is planning to present to the BTRC.  It incorporates the flexibility and features that Enron Canada needs to complete settlements that are in the works with a couple of former netback producers, Birchill and Tenaska.  It also has backup disposition plans for ENA's Northern Border capacity in the event that the Enron Canada deals fall apart.  With respect to future claims, NBPL's posting of the capacity on their website is just another way to find creditworthy shippers that can step into ENA's shoes for the remaining terms of the firm max rate transport agreements.

Ruth

-----Original Message-----
From: Mark Ellenberg [mailto:Mark.Ellenberg@cwt.com]
Sent: Wednesday, May 15, 2002 11:32 AM
To: Lenard M. Parkins
Cc: Neufeld, Eva; Concannon, Ruth; Edward Smith
Subject: Re: Fwd: Northern Border Stipulation



This is to confirm that in light of the favorable decision from FERC on the
Tanaska complaint, we are going to use the draft i sent last evening, with
a few modifications that you are about to make.  Please Fed Ex the signed
stipulation and a disk to Ed Smith, Cadwalader, Wickersham & Taft, 100
Maiden Lane, New York, NY  10038.  Ed's direct dial number is 212.504.5790.
Mark Sherill and Ed will call the court to adjourn the hearing for two
weeks, at which time the stipulation will be considered.  The stipulation
will be filed tomorrow and served.  Thanks for your cooperation.

Mark C. Ellenberg
Cadwalader, Wickersham & Taft
1201 F Street, NW
Washington, DC  20004
202.862.2234


                                                                                                                        
                    "Lenard M. Parkins"                                                                                 
                    <Lenard.Parkins@haynes       To:     Mark.Ellenberg@cwt.com                                         
                    boone.com>                   cc:     Eva.Neufeld@NBorder.com                                        
                                                 Subject:     Fwd: Northern Border Stipulation                          
                    Office:                                                                                             
                                                                                                                        
                    05/15/02 11:33 AM                                                                                   
                                                                                                                        
                                                                                                                        




Here is a clean and black-lined draft of the Stipulation we talked about  a
little while ago.  If this is ok, call me and I will sign this Stipulation
and have it delivered to you by courier, if need be.  Otherwise, I can sign
it, fax it to you and mail the original to you.

Let me know asap so that we can put this behind us.

You will take care of noticing  out  the matter of approving the
stipulationa and resolving the outstanding issues on Agreement T1060F for
two weeks from tomorrow.

Thanks

Lenny

Lenard M. Parkins
Haynes and Boone, LLP
1000 Louisiana Street, Suite 4300
Houston, Texas 77002-5012

Direct Phone-(713)-547-2008
Direct Fax-(713)- 236-5405
Main Phone-(713)-547-2000
Cell Phone-(713)-542-7225
Email-parkinsl@haynesboone.com
----- Message from "Mark Sherrill" <Mark.Sherrill@haynesboone.com> on Wed,
15 May 2002 10:29:25 -0500 -----
                                                 
      To: "Lenard M. Parkins"                    
          <Lenard.Parkins@haynesboone.com>       
                                                 
 Subject: Northern Border Stipulation            
                                                 

 Attached are a clean copy and a blacklined copy of the Haynes and Boone
version of the Stipulation.

(See attached file: 338900_2.DOC)(See attached file: Redline.Stip.rtf)


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NOTE:  The information in this email is confidential and may be legally privileged.  If you are not the intended recipient, you must not read, use or disseminate the information.  Although this email and any attachments are believed to be free of any virus or other defect 
that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by Cadwalader, Wickersham
& Taft for any loss or damage arising in any way from its use.


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