Message-ID: <2259410.1075851722024.JavaMail.evans@thyme>
Date: Wed, 6 Dec 2000 23:38:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch
Mime-Version: 1.0
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X-From: Enron Announcements
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X-cc:
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BUSINESS HIGHLIGHTS

Weather Group

Let=01,s give a big round of applause to the Weather Team!  Environmental=
=20
Finance Magazine ranked the weather group #1 in Online Services and #1 Deal=
er=20
in the United States and Europe.  Gary Taylor, manager in weather trading,=
=20
comments, "The "Best Dealer" award reflects our counterparties' appreciatio=
n=20
for the significant effort we have made to drive the growth of our market b=
y=20
making two-sided markets where other companies are only willing to quote=20
either a bid or an offer.  This award also reflects the innovative nature o=
f=20
everyone on our desk, and their ability to price non-standard structures fo=
r=20
our customers.  It is truly a team award.  The "Best Online Dealer" award i=
s=20
simply another testament to the unparalleled success of EnronOnline.  By=20
providing tight, two-way markets online, we have provided two critical=20
elements to generate growth in our market: 1) an element of price discovery=
,=20
and 2) a quick and easy way to transact."

The Weather Risk Management group launched a new product this week:  Power=
=20
Demand swaps.  These contracts use power demand as an index and allow power=
=20
market participants (generators, btu distributors, marketers, etc...) to=20
mitigate volumetric exposures.  The first contract the desk offered is for=
=20
the PJM power pool.  On EnronOnline, weekly swaps are available and the des=
k=20
has placed option contracts on this index in the broker market.  Inquiries=
=20
regarding this product should be directed to Claudio Ribeiro (product=20
manager) x37313, Gary Taylor x31511, or Valter Stoiani x36906.

Competitive Analysis and Business Controls
eSource, Enron's premier corporate-wide research group, launched their new=
=20
intranet product, eSearch, on December 1, 2000.  eSource's team of=20
specialized researchers have created a web site to bring information and=20
research to every employee's desktop.  The eSearch web site offers many lin=
ks=20
to information resources, access to research databases, specialized searche=
s,=20
sites to purchase books, articles, and reports, and training.  Employees ca=
n=20
use the web site to conduct their own research or as a vehicle to submit=20
research requests.  eSource's researchers and industry specialists are=20
available to all Enron business units to provide timely and cost efficient=
=20
research, to work with individuals or groups to fulfill one time research=
=20
requests, or to design ongoing, customized monitoring projects or news=20
updates.

Enron Global Markets Fundamentals
EGM Fundamentals is quickly building a team of expert analysts and associat=
es=20
to work directly with traders and marketers.  The team is already busy=20
analyzing various commodities and market situations.  For example, an=20
initiative is underway to analyze current negative fractionation spreads in=
=20
the market resulting from rising natural gas prices.  Web sites to host thi=
s=20
analytical information are currently in development for all EGM commodities=
. =20
These sites will provide research and analysis, weather, publications, and=
=20
any other information that will assist in decision-making or identification=
=20
of potential commercial opportunities.  For questions or requests regarding=
=20
fundamental research, contact Jennifer Fraser at x34759.  For questions or=
=20
suggestions regarding the web sites, contact Heather Purcell at x54057.

Austin Energy
Austin Energy and E


Message-ID: <21442787.1075847354373.JavaMail.evans@thyme>
Date: Fri, 20 Apr 2001 10:08:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
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X-cc:
X-bcc:
X-Folder: \Tanya_Jones_June2001\Notes Folders\All documents
X-Origin: JONES-T
X-FileName: tjones.nsf

BUSINESS HIGHLIGHTS

Enron Industrial Markets
Metal Bulletin - Iron and Steel Awards for 2000
Pushiest Entrant: Enron, the US commodity trading company, which promised i=
t=20
would revolutionize the steel business by offering futures in hot rolled co=
il=20
via its online market place.

The EIM Fundamentals Analysis group is excited to announce that Dave Allan=
=20
has joined as a Director, responsible for all Forest Products lines.  He=20
comes to EIM with 20 years of experience in the Forest Products industry, o=
f=20
which 14 were spent at Abitibi and 6 with Pulp and Paper Week.  Please join=
=20
us in welcoming Dave.

The Siebel Team (=01&The Force=018) continues to work towards program=20
implementation of its customer management system in early May, with trainin=
g=20
to begin at the end of April.  Stay tuned for updates.

Enron Global LNG
Enron Global LNG is positioning itself to be a creator and leader of a glob=
al=20
wholesale LNG market.  The rising prices of natural gas in the United State=
s=20
and concerns over future energy supplies have created a bullish outlook for=
=20
LNG in the U.S. and around the globe.   LNG has played a major role in=20
serving energy needs in many parts of the world, but its place in the U.S.=
=20
energy picture has been limited. An LNG market that spans the globe can=20
supply vast amounts of otherwise stranded gas to the world=01,s growing app=
etite=20
for cleaner burning fuels.   Enron Global LNG sees great opportunity for=20
Enron=01,s wholesale energy business model to help shape yet another energy=
=20
market.

IN THE NEWS

Enron Corp. Says First-Quarter Profit Rose 20 Percent=20
Houston, April 17 (Bloomberg) -- Enron Corp., the largest energy trader, sa=
id=20
first-quarter profit rose 20 percent as sales almost quadrupled. Profit fro=
m=20
operations rose to $406 million, or 47 cents, from $338 million, or 40 cent=
s,=20
in the year-earlier period.  Enron raised its 2001 profit forecast to $1.75=
=20
to $1.80 a share, from its January projection of $1.70 to $1.75.

First-quarter revenue surged to $50.1 billion from $13.1 billion as Enron=
=20
boosted the volume of power sold in North America by 90 percent. Enron had =
a=20
first-quarter gain of $19 million, or 2 cents a share, for an accounting=20
change, making net income $425 million, or 49 cents a share. There were no=
=20
charges or gains in the year-earlier period. =20

WELCOME
New Hires
EGM - Janelle Russell,=20
EIM   - David Allan, Sylvia Carter
ENA  - Sasha Divelbiss, Amy Quirsfeld, Judy Zhang, Annette Thompson, Kelly=
=20
Donlevy-Lee, Grant Patterson

Transfers (to or within)
ENA =01) William Abler, Magdalena Cruz, Barbara Taylor, James Reyes, Marvin=
=20
Carter, Angel Tamariz, Jesse Bryson
EIM =01) Cassandra Dutton, Christine Sullivan, Camille Gerard, Sherri Katho=
l,=20
Jennifer Watson
EGM =01) Steven Batchelder

LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y=20
to Enron Corp. and its subsidiaries.  It is intended for internal use only=
=20
and should not be disclosed.


Message-ID: <28451529.1075852672321.JavaMail.evans@thyme>
Date: Mon, 24 Sep 2001 07:06:43 -0700 (PDT)
From: petroleumworldnews11@hotmail.com
To: petroleumworldreaders@hotmail.com
Subject: Petroleumworld Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: "Elio Ohep" <petroleumworldnews11@hotmail.com>@ENRON <IMCEANOTES-+22Elio+20Ohep+22+20+3Cpetroleumworldnews11+40hotmail+2Ecom+3E+40ENRON@ENRON.com>
X-To: petroleumworldreaders@hotmail.com
X-cc:
X-bcc:
X-Folder: \JSKILLIN (Non-Privileged)\Inbox
X-Origin: Dasovich-J
X-FileName: JDASOVIC (Non-Privileged).pst

=09 [IMAGE][IMAGE]   [IMAGE]     =09
 [IMAGE]   Home    [IMAGE]    Go to    [IMAGE]    Events     BulletinBoard =
   Newsletter    Geological Guide    Contracting Guide   [IMAGE]  Procureme=
nt Guide      [IMAGE] Noticias- Petroleo.com News  Spanish     IESA Macroec=
onomic Data Base     [IMAGE] Venezuela Central Bank Economic Indicators  Pe=
troleumworld Business Partners:     [IMAGE]      [IMAGE]      [IMAGE]   =09=
   "); document.write (mesn[fecha.getMonth()+1]+", "+fecha.getDate()+" "+fe=
cha.getYear()); document.write ("");   Septiembre, 24 2001     Petroleumwor=
ld Weekly Review Sep. 16-Sep. 23  Petroleumworld.com for the lastest daily =
news  [IMAGE]  THE WEEK TOP NEWS   Venezuela's Silva: New oil law suggestio=
ns received until Oct. 25 [IMAGE]Venezuela's Energy Minister By Elio Ohep P=
ETROLEUMWORLD  Caracas, Sep 19 - Full story  Lake Charles refinery fire out=
; production down  [IMAGE]CITGO's Lake Charles Refinery PETROLEUMWORLD Cara=
cas, Sept. 23 - Full story    Kuwait economists see oil under pressure [IMA=
GE] PETROLEUMWORLD  Caracas, Sep 22- Full story    OPEC sees mkt oversupply=
 at 600,000 b/d [IMAGE] PETROLEUMWORLD  Caracas, Sep 21 - Full story    Sau=
di oil minister tells Korea no big oil price change this year [IMAGE] PETRO=
LEUMWORLD  Caracas, Sep 21 - Full story   OPEC Aug oil output 27.67 mln b/d=
 vs 26.85 mln b/d July [IMAGE] PETROLEUMWORLD  Caracas, Sep 21 - Full story=
     Mexico's Marteens: Gov to present 6-year energy plan in October [IMAGE=
]Mexico's Energy Secretary Ernesto Marteens PETROLEUMWORLD  Caracas, Sep 21=
 -Full story    German finance minister Hans Eichel: Oil price rise only sh=
ort term [IMAGE] PETROLEUMWORLD  Caracas, Sep 20 - Full story    Price for =
OPEC oil continues to slide-prices [IMAGE] PETROLEUMWORLD  Caracas, Sep 19 =
- Full story    Venezuela's Alvarez: No decision taken yet on PDVSA gas [IM=
AGE] PETROLEUMWORLD  Caracas, Sep 19 - Full story   Venezuela's Ortega: dec=
ision to suspend the oil union elections "irresponsible." [IMAGE]Venezuela'=
s Fedepetrol former president and candidate Carlos Ortega By Elio Ohep PETR=
OLEUMWORLD  Caracas, Sep 19 - Full story    Saudi's Naimi: Will ensures sta=
ble supply amid worries [IMAGE]Saudi Arabia Oil Minister, Ali Naimi PETROLE=
UMWORLD  Caracas, Sep 19 . - Full story   Venezuelan oil worker's union to =
elect  new authorities Wednesday [IMAGE]Fedepetrol's presidential candidate=
 Carlos Ortega By Elio Ohep PETROLEUMWORLD  Caracas, Sep 18 - Full story   =
 Kuwaiti minister: OPEC will not change $22-28! price range [IMAGE] PETROLE=
UMWORLD  Caracas, Sep 18 - - Full story    Oil stabilizes as market weighs =
OPEC hopes  against US war fears [IMAGE] PETROLEUMWORLD  Caracas, Sep 18 - =
Full story   Venezuela Hydrocarbons Law jeopardizing oil output goal [IMAGE=
]Venezuela's Inepetrol Rig  PETROLEUMWORLD  Caracas, Sep 17 - Full story   =
 Stock fall as markets reopen, IPE brent drops at opening Monday [IMAGE] PE=
TROLEUMWORLD  Caracas, Sep 17 - Full story    OPEC may reverse cut, no form=
al decision yet [IMAGE]  PETROLEUMWORLD  Caracas, Sep 17 - Full story   For=
eign Oil Cos In Gulf Set Up Emergency Evacuation Plans [IMAGE]The Middle Ea=
st PETROLEUMWORLD Caracas, Sep. 16 - - Full story      [IMAGE]    This week=
 top ISSUES... Inside, confidential and off the record  First round knock o=
ut- Full


Message-ID: <9728474.1075852471396.JavaMail.evans@thyme>
Date: Thu, 28 Jun 2001 16:36:00 -0700 (PDT)
From: murray.oneil@enron.com
To: alan.comnes@enron.com, james.steffes@enron.com, ray.alvarez@enron.com
Subject: RE: Underscheduling Penalty--CONFIDENTIAL
Cc: steve.hall@enron.com, susan.mara@enron.com, dave.perrino@enron.com,
	tim.belden@enron.com, chris.stokley@enron.com
Mime-Version: 1.0
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Content-Transfer-Encoding: 7bit
Bcc: steve.hall@enron.com, susan.mara@enron.com, dave.perrino@enron.com,
	tim.belden@enron.com, chris.stokley@enron.com
X-From: Murray P ONeil <Murray P ONeil/ENRON@enronXgate>
X-To: Alan Comnes <Alan Comnes/ENRON@enronXgate>, James D Steffes <James D Steffes/NA/Enron@Enron>, Ray Alvarez <Ray Alvarez/NA/Enron@ENRON>
X-cc: Steve C Hall <Steve C Hall/ENRON@enronXgate>, Susan J Mara <Susan J Mara/NA/Enron@ENRON>, Dave Perrino <Dave Perrino/SF/ECT@ECT>, Tim Belden <Tim Belden/ENRON@enronXgate>, Chris Stokley <Chris Stokley/ENRON@enronXgate>
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Alan,

This is a very valid question and one which was asked by Steve Hall about 6 weeks ago.  We have been working with the ISO the get the following information.

Based on the latest information provided by the ISO Client Reps.  Enron would be eligible for receiving part of the Allocation.  There were some questions regarding this in the past because, the tariff was written in our favor to receive part of this allocation but the Settlement documentation by the ISO did not represent the same.

Per John Gooden at the ISO

The CT 1480 is used to allocate the revenues received by the ISO through CT 480.  Such revenues will be allocated to the SCs with a positive Uninstructed Demand Deviation and to those with a negative Uninstructed Demand Deviation with a magnitude less than or equal to 5% of the metered Demand.  These SCs will receive revenues based on the ratio of each SC's metered demand to the sum of all such SCs metered demand in the control area.

Chris Stokley has placed a request with the ISO to provide us with information indicating how much of this has been allocated to Enron.  If they are truly calculating this today they should not have any problems providing this information.

If you have any additional questions please let me know.

Thanks - MO

 -----Original Message-----
From: 	Comnes, Alan
Sent:	Wednesday, June 27, 2001 2:56 PM
To:	Steffes, James; Alvarez, Ray
Cc:	Hall, Steve C.; Mara, Susan; Perrino, Dave; O'Neil, Murray P.; Belden, Tim
Subject:	Underscheduling Penalty--CONFIDENTIAL

The Calif. EOB has released information on the size of the FERC-approved, tracked, but-as-yet-unimplemented underscheduling penalty.

See the attached PDF file, especially the figures in the attachment at the end.

The total liability for PG&E and SCE is approaching $1billion. (EOB says that DWR is off the hook but I am not sure that is true.)

As a generally balanced SC, Enron would likely be eligible for some of these proceeds.  How the proceeds would be allocated is less than fully clear.  MURRAY O'NEIL: Have you seen anything on who would receive the revenues from this tracking A/C if it were to be billed and paid?)

Also the probability of ever extracting these $s out of noncreditworthy counter parties must be taken into account.

Alan Comnes

 << File: EOB Request for Rehearing June 14.pdf >>


Message-ID: <13282714.1075840556952.JavaMail.evans@thyme>
Date: Wed, 16 Jan 2002 07:06:17 -0800 (PST)
From: jhliberman@pclient.ml.com
To: c..giron@enron.com
Subject: RE:
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: "liberman, Jay H (DALLAS EY 586)" <JHliberman@pclient.ml.com>@ENRON
X-To: Giron, Darron C. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=DGIRON>
X-cc:
X-bcc:
X-Folder: \ExMerge - Giron, Darron C.\Inbox
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X-FileName: darron giron 6-26-02.PST

Darron,

Call me when you get a chance... I have tried getting to you a couple times
with no success...

-Jay

-----Original Message-----
From: Darron.C.Giron@enron.com [mailto:Darron.C.Giron@enron.com]
Sent: Monday, January 14, 2002 5:19 PM
To: JHliberman@pclient.ml.com
Subject: RE:

The HB was pretty wild.  We went to the Big XII CG.  Good game, bummer
outcome.

I think I would like to start the 529 plan for each kid.  Can I transfer
either the custodial or Ed IRA $$??  I just tried to call, but no one
answered.  With all the craziness here, I'm not sitting by my phone.  If
you call, ask the person to messenger me.

DG

    -----Original Message-----
   From:   "liberman, Jay H (DALLAS EY 586)" <JHliberman@pclient.ml.com>
             @ENRON
   Sent:   Thursday, January 10, 2002 2:02 PM
   To:     Giron, Darron C.
   Subject:  RE:

   Darron,

   Sorry, things have been hectic lately... How did you like that Horns
   game???

   As for the Ed IRA.. they have raised the limits to $2K

   You should however consider the Section 529 plans that I believe we have
   discussed previously.  Call me to discuss further.

   http://www.nextgenplan.com/

   -Jay

   -----Original Message-----
   From: Giron, Darron C. [mailto:Darron.C.Giron@ENRON.com]
   Sent: Thursday, January 10, 2002 1:36 PM
   To: Jay Liberman (E-mail)
   Subject: FW:

   >  -----Original Message-----
   > From:      Giron, Darron C.
   > Sent:      Friday, January 04, 2002 9:36 AM
   > To:   Jay Liberman (E-mail)
   > Subject:
   >
   > Jay,
   > I hope you had a good Holiday Season.  Hopefully 2002 will be better
   than
   2001!  I believe that this year the limit has been raised on the
   Education
   IRA's.  Is this true?  If so, I would like to contribute more than the
   $500
   that it has been.  Please let me know.  Thanks.
   > DG

   **********************************************************************
   This e-mail is the property of Enron Corp. and/or its relevant affiliate
   and
   may contain confidential and privileged material for the sole use of the
   intended recipient (s). Any review, use, distribution or disclosure by
   others is strictly prohibited. If you are not the intended recipient (or
   authorized to receive for the recipient), please contact the sender or
   reply
   to Enron Corp. at enron.messaging.administration@enron.com and delete
   all
   copies of the message. This e-mail (and any attachments hereto) are not
   intended to be an offer (or an acceptance) and do not create or evidence
   a
   binding and enforceable contract between Enron Corp. (or any of its
   affiliates) and the intended recipient or any other party, and may not
   be
   relied on by anyone as the basis of a contract by estoppel or otherwise.
   Thank you.
   **********************************************************************

   _______________________________________
   CAUTION: electronic mail sent through the internet is not secure and
   could
   be intercepted by a third party. For your protection, avoid sending
   identifying information, such as account, Social Security, or card
   numbers
   to us or others. Further, do not send time-sensitive, action-oriented
   messages, such as transaction orders, fund transfer instructions, or
   check
   stop payments, as it is our policy not to accept such items
   electronically.

_______________________________________
CAUTION: electronic mail sent through the internet is not secure

liberman, Jay H (DALLAS EY 586)
Giron, Darron C.


Message-ID: <13081633.1075845345999.JavaMail.evans@thyme>
Date: Fri, 8 Jun 2001 06:17:30 -0700 (PDT)
From: 40enron@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
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Content-Transfer-Encoding: 7bit
X-From: ENA Public Relations@ENRON <IMCEANOTES-ENA+20Public+20Relations+40ENRON@ENRON.com>
X-To: All_ENA_EGM_EIM@ENRON <??SAll_ENA_EGM_EIM@ENRON>
X-cc:
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X-FileName: Storey, Geoff.pst

BUSINESS HIGHLIGHTS

eSource
eSource, Enron's research group, has experienced an overwhelmingly positive response to the research training which it has hosted.  Participation and interest by Enron employees has exceeded expectations and many classes were quickly filled.  As a result, repeat classes have been offered and new sessions have been added to the program.  In addition to the Lexis-Nexis and Dow Jones classes, eSource has now begun hosting sessions on Piranha (financials and pricing information), Investext (analyst reports and market analysis), Global Access (financials and corporate activity), and Securities Data Corp. (M&A, debt).   eSource has also arranged long distance sessions using interactive web tools for Enron employees around the world.  Watch for e-mails announcing new training sessions, either in Houston or in a virtual desktop mode.

Since our launch in December, the eSearch website has received over 230,000 hits.  The site today offers Enron employees access to 34 electronic databases.  These databases offer the latest financial and business on-line research capabilities in a cost-effective manner.  In this era of information explosion, databases are constantly being reviewed to ensure that Enron's research needs are being met.  If you know of a professionally relevant database that might be added to eSearch, let us know.  Meanwhile, to further fulfill Enron's research needs, eSource is arranging for desktop access to good-old-fashioned libraries too.  Books from public and local university libraries can be located, borrowed and delivered to employees' desks.  This should be particularly helpful for those with more specialized or technical research needs.

We are also proud to report that at a recent local research conference, Enron's eSource was featured as an industry trailblazer for having invented itself into a combined virtual library and intranet-based research center capable of delivering a broad range of research products and services via the user's desktop.  Attendees from Reliant, Shell, Halliburton and ExxonMobil and others were duly impressed.

As for the future, watch for Version 2.0 of the eSearch website, http://esource.enron.com, scheduled to launch soon.  It will feature greater functionality and additional content.  Look for new features like "Industry Overviews" and links to information providers like Frost & Sullivan, Country Watch, and World Energy Markets.

IN THE NEWS

Chicago And Its Suburbs Pick Enron, ComEd For Power Deals
06/06/2001  Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.)
CHICAGO -(Dow Jones)-The City of Chicago and 47 suburban communities have decided to divide new deals for 400 megawatts of power between Enron Corp. (ENE) and local utility Commonwealth Edison Co., Chicago officials said Wednesday.
In the largest power purchase agreement in Illinois since the state choose to deregulate the industry in 1997, the local government groups will get 60% of their power from Enron and 40% from Exelon Corp.'s (EXC) ComEd. The municipalities use the power for public buildings and public transportation.
Chicago announced Monday that the group has picked ComEd to meet the renewable target by providing 80 megawatts of power created with landfill gas, wind and other sources. ComEd will also provide the coalition with another 80 megawatts of power generated with fossil fuel and nuclear plants, and Enron will provide the other 240 megawatts. The n


Message-ID: <29279696.1075840642321.JavaMail.evans@thyme>
Date: Tue, 14 Nov 2000 00:22:00 -0800 (PST)
From: dave.guzman@fluor.com
To: mark.guzman@enron.com
Subject: Re: Holiday Plans
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Dave.Guzman@Fluor.com
X-To: Mark.Guzman@enron.com
X-cc:
X-bcc:
X-Folder: \mark guzman 6-28-02\Notes Folders\Discussion threads
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X-FileName: mark guzman 6-28-02.nsf

Hey Mark
I hesitated in calling you at work but the credit collection agency said
that if we didn't commit to pay something today, then they would write off
the entire amount as a bad debt, which would have permanently  impacted
both of our credit histories.   Apparently, they are only allowed to keep
delinquent accounts for six months on their books before write-off and your
last payment was end of March.     The guy on the phone said that they were
calling all of Oregon to get hold of you and even called Washington Mutual
and the frat house.   Someone at the frat house said you may have moved to
southern california.   Then, they finally got my house by calling
information after calling several other Guzman's in Orange County.

This will work out as soon as we get current on the account.    I told them
to deduct $600 from my back account and he agreed to post-date the payment
in two weeks.   I also explained the death in our family and he said it
will not permanently hurt our credit history, other than showing we were
late several months.   There is no need to write a letter and you can pay
me when you get the insurance check.

My girls also fly in for the week on Sunday about 1pm.    Plan on coming
over for dinner about 5:00 since we'll all be there anyway.   Let me know
if you need a ride from the airport.
Love ya and go beavs!
Dave

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Message-ID: <31332509.1075863609831.JavaMail.evans@thyme>
Date: Wed, 28 Jun 2000 11:39:00 -0700 (PDT)
From: office.chairman@enron.com
To: esop.america@enron.com
Subject: EnronOptions - Your Stock Option Program
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Office of the Chairman
X-To: ESOP - All Enron North America
X-cc:
X-bcc:
X-Folder: \Jeffrey_Skilling_Dec2000\Notes Folders\Discussion threads
X-Origin: SKILLING-J
X-FileName: jskillin.nsf

It is amazing and yet not surprising how much Enron has accomplished in the=
=20
first six months of this year. You continue to make it happen.  We recogniz=
e=20
that you work hard every day to accomplish Enron=01,s business goals, and w=
e are=20
pleased that many of you have shared in the company=01,s financial success=
=20
through Enron stock options.=20

As you may know, the current employee stock option program (also known as t=
he=20
All Employee Stock Option Program or AESOP) began in 1994 and provided valu=
e=20
to participants through 2000.  Employees who have participated in this=20
program from its inception have realized a 1,119% increase in the value of=
=20
their stock options (assuming a stock price of $70) over the life of the=20
program.  =20

Enron stock options are a valuable part of your total compensation package=
=20
and a contributing factor to your performance and to Enron=01,s continued=
=20
success.  Therefore, the Enron Executive Committee and the Compensation and=
=20
Management Development Committee of the Enron Board of Directors have decid=
ed=20
to continue to offer stock options as a part of your compensation package.

On May 1, 2000, the Committee approved an employee stock option program for=
=20
calendar years 2001 - 2005 (EnronOptions =01) Your Stock Option Program).  =
It is=20
expected that EnronOptions =01) Your Stock Option Program will be granted,=
=20
effective on or about December 29, 2000, for those employees who are eligib=
le=20
on that date (please see note below).  The new program, which is subject to=
=20
final approval by Enron=01,s Board of Directors, is as follows:

? EnronOptions =01) Your Stock Option Program will give stock options to=20
eligible full-time and part-time regular employees in domestic and=20
international companies/locations.
? The grant of non-qualified stock options will equal 25% of annual base=20
salary (5% of annual base salary for each year of a 5-year period) on=20
December 29, 2000. (Salary calculation and value may vary in some=20
international locations.)
? The Board will grant the stock options on December 29, 2000.
? Eligible employees hired in subsequent years will receive a prorated gran=
t=20
of stock options.

Why commit your talent and energy to Enron?  EnronOptions =01) Your Stock O=
ption=20
Program, among other good reasons=01( that=01,s why.

In the coming weeks, you will be receiving more details about EnronOptions =
=01)=20
Your Stock Option Program.  To provide information and answer your question=
s,=20
we will introduce a special link on the Human Resources web-site, host=20
several eSpeak sessions and continue to communicate with you on a regular=
=20
basis.  In the meantime, if you have immediate questions, please contact yo=
ur=20
Human Resources representative.=20

Note: In addition to final approval by Enron=01,s Board of Directors, grant=
ing=20
of options will be subject to New York Stock Exchange and state and federal=
=20
regulatory requirements.  It is expected that EnronOptions =01) Your Stock=
=20
Option Program will be available to most Enron employees; however, some Enr=
on=20
companies=01, employees may not be eligible due to legal, accounting, tax, =
labor=20
or business issues.  As you know, Enron changes to meet the needs of the=20
marketplaces we serve.  Given that need to change, we will continue to refi=
ne=20
the eligibility for EnronOptions =01) Your Stock Option Program and will=20
communicate mo

Office of the Chairman
ESOP - All Enron North America


Message-ID: <20648199.1075848019882.JavaMail.evans@thyme>
Date: Fri, 1 Jun 2001 01:00:00 -0700 (PDT)
From: ann.schmidt@enron.com
Subject: Enron Mentions
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Ann M Schmidt
X-To:
X-cc:
X-bcc:
X-Folder: \Steven_Kean_June2001_3\Notes Folders\Calendar\Untitled
X-Origin: KEAN-S
X-FileName: skean.nsf

Democrats Prepare to Duel Bush Over Energy Price Caps in West
The Wall Street Journal, 06/01/01

Electricity Trading Is Target of State Probe Regulation: A special Senate
panel is investigating alleged price manipulation of power transactions.
Los Angeles Times, 06/01/01

Companies Rush to Purchase Their Indian Units, Boosting Share Prices of
Concerns With Foreign Ties
The Wall Street Journal, 06/01/01

Exxon, Shell Poised to Win Saudi Deals --- They Appear Favored To Lead Key
Projects In Coveted Gas Sector
The Wall Street Journal, 06/01/01

NEW PACKAGE TO RESOLVE DPC, INDIA'S MSEB SITUATION: OFFICIAL
Asia Pulse, 06/01/01

GLOBAL INVESTING: Betting on better times for utilities
Financial Times; Jun 1, 2001

INTERNATIONAL ECONOMY, MIDDLE EAST & AFRICA: Hopefuls await details of Saudi
gas deal Financial Times; Jun 1, 2001

FITCH PLACES INDIA ON NEGATIVE RATING OUTLOOK ON FISCAL CONCERNS
Asia Pulse, 06/01/01

Thomas E. White becomes Secretary of the Army
M2 Presswire, 06/01/01

Some light at last!
The Economic Times, 06/01/01

Calif. investigations focus on whether out-of state wholesalers manipulated
energy prices
Associated Press Newswires, 06/01/01

California Lawmakers Eye Billing Businesses for Edison Rescue
Dow Jones Business News, 05/31/01

Construction of power plant in DeSoto County is underway
Associated Press Newswires, 05/31/01

Politics & Policy
Democrats Prepare to Duel Bush Over Energy Price Caps in West
By John Harwood and Jeanne Cummings
Staff Reporters of The Wall Street Journal

06/01/2001
The Wall Street Journal
A16
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- If you talk to economists, many will say President Bush is on
solid ground in opposing caps on soaring electricity prices in California and
elsewhere. But if you talk to voters, many will suggest he has political
problems.
And now that Democrats control the U.S. Senate, they are poised to make those
problems a lot worse.
Mr. Bush got a taste of what is coming in his widely touted showdown with
California Gov. Gray Davis in Los Angeles this week. The Republican president
repeated his familiar argument that capping wholesale electricity prices
would do nothing to curb demand or increase the supply of power for
California. But the Democrats' Mr. Davis, fortified by polls showing that 70%
of Californians favor price caps, managed to get equal billing during Mr.
Bush's visit for his argument that they are needed to keep the state from
slipping into recession and threatening the national economy in the process.
Because Sen. Jim Jeffords of Vermont left the Republican Party last week and
changed control of the Senate, Democrats now have a more effective national
platform to press the same arguments -- and to threaten Mr. Bush's political
standing beyond the already hostile turf of California. The incoming chairman
of the Senate Energy and Natural Resources Committee, Democratic Sen. Jeff
Bingaman of New Mexico, says he plans to move soon on legislation capping
prices for California and other Western states, a bill that has attracted
some GOP support as well.
"I think it's clear to anybody that the prices being charged for wholesale
power are excessive," said Sen. Bingaman, in an interview while he was
heading toward California on a fact-finding mission. "I don't believe it's
going to be adequate to get us through this summer, to just continue saying
that eventually supply will come into line with demand and the problems will
be resolved."
Meantime, the incoming chairman of the Permanent Subcommittee on
Investigations, D

70 cents on the dollar for their back
bills right away,


Message-ID: <11883075.1075842307226.JavaMail.evans@thyme>
Date: Wed, 6 Dec 2000 23:38:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Debra_Perlingiere_Dec2000_June2001_1\Notes Folders\All documents
X-Origin: PERLINGIERE-D
X-FileName: dperlin.nsf

BUSINESS HIGHLIGHTS

Weather Group

Let=01,s give a big round of applause to the Weather Team!  Environmental=
=20
Finance Magazine ranked the weather group #1 in Online Services and #1 Deal=
er=20
in the United States and Europe.  Gary Taylor, manager in weather trading,=
=20
comments, "The "Best Dealer" award reflects our counterparties' appreciatio=
n=20
for the significant effort we have made to drive the growth of our market b=
y=20
making two-sided markets where other companies are only willing to quote=20
either a bid or an offer.  This award also reflects the innovative nature o=
f=20
everyone on our desk, and their ability to price non-standard structures fo=
r=20
our customers.  It is truly a team award.  The "Best Online Dealer" award i=
s=20
simply another testament to the unparalleled success of EnronOnline.  By=20
providing tight, two-way markets online, we have provided two critical=20
elements to generate growth in our market: 1) an element of price discovery=
,=20
and 2) a quick and easy way to transact."

The Weather Risk Management group launched a new product this week:  Power=
=20
Demand swaps.  These contracts use power demand as an index and allow power=
=20
market participants (generators, btu distributors, marketers, etc...) to=20
mitigate volumetric exposures.  The first contract the desk offered is for=
=20
the PJM power pool.  On EnronOnline, weekly swaps are available and the des=
k=20
has placed option contracts on this index in the broker market.  Inquiries=
=20
regarding this product should be directed to Claudio Ribeiro (product=20
manager) x37313, Gary Taylor x31511, or Valter Stoiani x36906.

Competitive Analysis and Business Controls
eSource, Enron's premier corporate-wide research group, launched their new=
=20
intranet product, eSearch, on December 1, 2000.  eSource's team of=20
specialized researchers have created a web site to bring information and=20
research to every employee's desktop.  The eSearch web site offers many lin=
ks=20
to information resources, access to research databases, specialized searche=
s,=20
sites to purchase books, articles, and reports, and training.  Employees ca=
n=20
use the web site to conduct their own research or as a vehicle to submit=20
research requests.  eSource's researchers and industry specialists are=20
available to all Enron business units to provide timely and cost efficient=
=20
research, to work with individuals or groups to fulfill one time research=
=20
requests, or to design ongoing, customized monitoring projects or news=20
updates.

Enron Global Markets Fundamentals
EGM Fundamentals is quickly building a team of expert analysts and associat=
es=20
to work directly with traders and marketers.  The team is already busy=20
analyzing various commodities and market situations.  For example, an=20
initiative is underway to analyze current negative fractionation spreads in=
=20
the market resulting from rising natural gas prices.  Web sites to host thi=
s=20
analytical information are currently in development for all EGM commodities=
. =20
These sites will provide research and analysis, weather, publications, and=
=20
any other information that will assist in decision-making or identification=
=20
of potential commercial opportunities.  For questions or requests regarding=
=20
fundamental research, contact Jennifer Fraser at x34759.  For questions or=
=20
suggestions regarding the web sites, contact Heather Purcell at x54057.

Austin Energy
Austin Energy and Enron Sandhil

20
Elliott Katz worked on the GEM migration in Singapore last


Message-ID: <21025450.1075843625019.JavaMail.evans@thyme>
Date: Tue, 22 May 2001 03:01:00 -0700 (PDT)
From: jmunoz@mcnallytemple.com
To: abb@eslawfirm.com, andybrwn@earthlink.net, cabaker@duke-energy.com,
	rescalante@riobravo-gm.com, rbw@mrwassoc.com,
	curtis_l_kebler@reliantenergy.com, dean.nistetter@dynegy.com,
	dkk@eslawfirm.com, gtbl@dynegy.com, smutny@iepa.com,
	jeff.dasovich@enron.com, joer@calpine.com,
	john.g.larrea@williams.com, jmball@ns.net, kgough@calpine.com,
	kent.palmerton@williams.com, lale@dynegy.com,
	mmoretti@mccabeandcompany.net, mwilson@pstrategies.com,
	rmcnally@mcnallytemple.com, nam.nguyen@powersrc.com,
	knorton@mcnallytemple.com, paula.hall-collins@williams.com,
	jackp@calpine.com, rwhyde@duke-energy.com, roger.pelote@williams.com,
	stephanie-newell@reliantenergy.com, smara@enron.com,
	tross@mcnallytemple.com, tcwillia@duke-energy.com,
	alex.sugaoka@uaecorp.com, william_carlson@wastemanagement.com,
	billw@calpine.com, bellery@spi-ind.com, bob.gates@enron.com,
	cody.carter@williams.com, curt.hatton@gen.pge.com,
	david.parquet@enron.com, dean_gosselin@fpl.com,
	fernley.doug@epenergy.com, dnelsen@gwfpower.com,
	ed.tomeo@uaecorp.com, eileenk@calpine.com, eric.eisenman@gen.pge.com,
	frank.derosa@gen.pge.com, frazier_blaylock@ogden-energy.com,
	hap_boyd@enron.com, jack.hawks@gen.pge.com, elliottsa@earthlink.net,
	jgreco@caithnessenergy.com, jweisgall@aol.com,
	ccastillo@riobravo-gm.com, kellyl@enxco.com,
	khoffman@caithnessenergy.com, kfickett@usgen.com,
	lynn.a.lednicky@dynegy.com, marty_mcfadden@ogden-energy.com,
	paula_soos@ogden-energy.com, rjhickok@duke-energy.com,
	rskoebbe@powerworksinc.com, rllamkin@seiworldwide.com,
	ain@worldnet.att.net, siliff@riobravo-gm.com, steve_ponder@fpl.com,
	twetzel@thermoecotek.com, wfhall2@duke-energy.com,
	trusso@mcnallytemple.com, sadlersa@earthlink.net, mstultz@epsa.org,
	rtemple@mcnallytemple.com, tracy.fairchild@edelman.com,
	megan.beiser@edelman.com, deborah.fiorito@dynegy.com,
	lchurch@epsa.org, kaplan@iepa.com, tcwillia@duke-energy.com,
	rwhyde@duke-energy.com, tmcmorrow@manatt.com,
	suzy.l.rodriguez@dynegy.com, ppitts@wiredworld1.com,
	mnobili@cal-lobby.com, sscsus@aol.com, kvellandi@pstrategies.com
Subject: IEP News 5/22
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
X-From: Jean Munoz <jmunoz@mcnallytemple.com>
X-To: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'" <andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'" <cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'" <rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'" <curtis_l_kebler@reliantenergy.com>, "Dean. Nistetter (E-mail)" <Dean.Nistetter@dynegy.com>, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Larrea (E-mail)'" <john.g.larrea@williams.com>, "'Julee Malinowski-Ball (E-mail)'" <jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>, "Marie Moretti (E-mail 2)" <mmoretti@mccabeandcompany.net>, "'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'" <rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'" <nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'" <knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'" <paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'" <jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>, "'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell (E-mail)'" <stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'" <smara@enron.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com>, "Tom Williams (E-mail)" <tcwillia@duke-energy.com>, "'Al

24 percent in the past
80 percent of water in most


Message-ID: <553653.1075851701265.JavaMail.evans@thyme>
Date: Wed, 6 Dec 2000 23:38:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Errol_McLaughlin_Nov2001\Notes Folders\All documents
X-Origin: MCLAUGHLIN-E
X-FileName: emclaug.nsf

BUSINESS HIGHLIGHTS

Weather Group

Let=01,s give a big round of applause to the Weather Team!  Environmental=
=20
Finance Magazine ranked the weather group #1 in Online Services and #1 Deal=
er=20
in the United States and Europe.  Gary Taylor, manager in weather trading,=
=20
comments, "The "Best Dealer" award reflects our counterparties' appreciatio=
n=20
for the significant effort we have made to drive the growth of our market b=
y=20
making two-sided markets where other companies are only willing to quote=20
either a bid or an offer.  This award also reflects the innovative nature o=
f=20
everyone on our desk, and their ability to price non-standard structures fo=
r=20
our customers.  It is truly a team award.  The "Best Online Dealer" award i=
s=20
simply another testament to the unparalleled success of EnronOnline.  By=20
providing tight, two-way markets online, we have provided two critical=20
elements to generate growth in our market: 1) an element of price discovery=
,=20
and 2) a quick and easy way to transact."

The Weather Risk Management group launched a new product this week:  Power=
=20
Demand swaps.  These contracts use power demand as an index and allow power=
=20
market participants (generators, btu distributors, marketers, etc...) to=20
mitigate volumetric exposures.  The first contract the desk offered is for=
=20
the PJM power pool.  On EnronOnline, weekly swaps are available and the des=
k=20
has placed option contracts on this index in the broker market.  Inquiries=
=20
regarding this product should be directed to Claudio Ribeiro (product=20
manager) x37313, Gary Taylor x31511, or Valter Stoiani x36906.

Competitive Analysis and Business Controls
eSource, Enron's premier corporate-wide research group, launched their new=
=20
intranet product, eSearch, on December 1, 2000.  eSource's team of=20
specialized researchers have created a web site to bring information and=20
research to every employee's desktop.  The eSearch web site offers many lin=
ks=20
to information resources, access to research databases, specialized searche=
s,=20
sites to purchase books, articles, and reports, and training.  Employees ca=
n=20
use the web site to conduct their own research or as a vehicle to submit=20
research requests.  eSource's researchers and industry specialists are=20
available to all Enron business units to provide timely and cost efficient=
=20
research, to work with individuals or groups to fulfill one time research=
=20
requests, or to design ongoing, customized monitoring projects or news=20
updates.

Enron Global Markets Fundamentals
EGM Fundamentals is quickly building a team of expert analysts and associat=
es=20
to work directly with traders and marketers.  The team is already busy=20
analyzing various commodities and market situations.  For example, an=20
initiative is underway to analyze current negative fractionation spreads in=
=20
the market resulting from rising natural gas prices.  Web sites to host thi=
s=20
analytical information are currently in development for all EGM commodities=
. =20
These sites will provide research and analysis, weather, publications, and=
=20
any other information that will assist in decision-making or identification=
=20
of potential commercial opportunities.  For questions or requests regarding=
=20
fundamental research, contact Jennifer Fraser at x34759.  For questions or=
=20
suggestions regarding the web sites, contact Heather Purcell at x54057.

Austin Energy
Austin Energy and Enron Sandhill, L.L.C, a sub


Message-ID: <22798921.1075847047732.JavaMail.evans@thyme>
Date: Wed, 15 Nov 2000 10:22:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: Ameriflash Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Tanya_Jones_Dec2000\Notes Folders\All documents
X-Origin: JONES-T
X-FileName: tjones.nsf

BUSINESS HIGHLIGHTS

Coal Trading
The liquidity in trading of the Standard European Coal Agreement has=20
increased significantly over the last 6 weeks.  Many counterparties that=20
previously opted to stay on the sidelines finally chose to join the game.=
=20
Since the contract's inception at the beginning of the year, Enron has trad=
ed=20
a total of 5.3 million tons against the SECA contract, of which 3.8 million=
=20
tons has been traded via EnronOnline since July 2000.  We are 5.3 million=
=20
tons of a total traded market of 5.8 million tons.

Principal Investments
Tridium Inc., the leading provider of Internet-based automation=20
infrastructure solutions, announced the close of a $20 million round of=20
capital funding. The funds will be used to increase Tridium=01,s sales and=
=20
technical support offices in North America, expand its operations into Euro=
pe=20
and Asia, and enhance its technology and products. kRoad Ventures, L.P. and=
=20
Enron North America each contributed $10 million in venture capital.

Corporate Development
Allegheny Energy Supply Company, LLC, a wholly owned subsidiary of Alleghen=
y=20
Energy, Inc., announced the signing of a definitive agreement under which=
=20
Allegheny Energy Supply will purchase three Enron natural gas-fired merchan=
t=20
generating facilities. The acquisition is expected to close in the 2nd=20
quarter of 2001.

PERFORMANCE REVIEW

The deadline to provide feedback is Friday, November 17.  If you have been=
=20
selected to provide feedback on one of your fellow employees, please take t=
he=20
time to fill out an evaluation online at www.pep.enron.com.

IN THE NEWS

"Enron Corp., already North America's biggest, buyer and seller of natural=
=20
gas and electric power is dead serious about its efforts to capture a big=
=20
slice of the $400 billion global trade in pulp, paper and lumber."
-Reuters News Service

2000 CHAIRMAN=01,S AWARD NOMINEES
Please join us in congratulating the ENA/EIM/EGM/ employees who have been=
=20
recognized as Chairman=01,s award nominees.

Congratulations to:

 Irma Alvarez  Alan Aronowitz  Rick Bergseiker  Carol Coats  Joya Davis =20
Rufino Durante
 Sue Foust  Julie Gomez  Barbara Gray  Jackie Griffith  John Harrison  Gerr=
i=20
Irvine
 Kathy Benedict  Michael Kelley  Mike McConnell  Dave Nommensen Ina Norman =
=20
Juan Padron
 Veronica Parra  Michael Roberts  Rhonda Robinson Kevin Sweeney  Helen=20
Taylor  Stacey White

Extra kudos to BARBARA GRAY, who is a finalist for the 2000 Chairman=01,s=
=20
Award.  Barbara and ten other individuals are flying to San Antonio from=20
around the world to be honored at Enron=01,s annual Management Conference. =
 One=20
of these finalists will be recognized as the 2000 Chairman=01,s Award winne=
r.=20

WELCOME
New Hires ENA/EIM/EGM
ENA =01) Anil Chandy, Alejandra Chavez
EGM =01) Marty Cates, JoAnne Underwood, Brad Miller

Transfers to ENA/EIM/EGM
ENA =01) Mark Wadlington, Jennifer Blay-Smith, Georgian Landau, Kathryn Bus=
sell,=20
John Coleman, Steven Gillespie, Clarissa Garcia, Ina Rangel, Farouk Lalji,=
=20
Eva Rainer, Chuchu Wang, Smith Day
EGM =01) Gloria Solis, Carmella Jones, Nancy Haralson

LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y=20
to Enron Corp. and its subsidiaries.  It is intended for internal use only=
=20
and should not be disclosed outside of Enron.


Message-ID: <16222068.1075861510046.JavaMail.evans@thyme>
Date: Mon, 19 Nov 2001 04:14:05 -0800 (PST)
From: neil.stein@csfb.com
To: undisclosed-recipients@enron.com
Subject: CSFB Independent Power Weekly; IPPs Rose 5% Last Week; 7%Private
 Market Value Discount Remains
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Stein, Neil <neil.stein@csfb.com>
X-To: undisclosed-recipients <undisclosed-recipients:;>
X-cc:
X-bcc:
X-Folder: \JDASOVIC (Non-Privileged)\Dasovich, Jeff\Inbox
X-Origin: Dasovich-J
X-FileName: JDASOVIC (Non-Privileged).pst

 <<IPW111901.pdf>>

Good Morning,

Attached, please find the latest issue of our Independent Power Weekly.

Summary:
1. IPPs Rise 5.0%   Last week our IPP composite rose 5.0%, outperforming the
S&P 500 (+1.6%) and the NASDAQ (+3.8%). AES Corp (AES), which was up 22.2%,
was the strongest generator in the group followed by Reliant Resources (RRI)
which rose 11.0%.  Orion Power (ORN) was the weakest performer, rising 1.2%.

2. Generation Oriented Utilities Fall 2.8%   Our universe of
generation-oriented utilities fell 2.8%, in-line with the UTY (-2.5%).
Black Hills (BKH), Cleco (CNL) and Constellation Energy (CEG) all rose less
than 1%.  Allegheny Energy was the weakest performer, down 7.6%.

3. ENE/DYN + Attractive Valuations Boost Stock Prices   Last week was the
3rd consecutive week of positive stock price performance for the group.
Driving stock prices higher, investors continued to grow more comfortable
with the Enron situation following confirmation of Dynegy's intention to
acquire Enron and provide immediate liquidity support by investing $1.5
billion.  Further, we believe the group simply remains oversold.  The pure
play power producers are trading at a 7% average discount to their private
market asset values.

4. Notes From Mirant Meeting   Mirant hosted an upbeat analyst meeting last
Tuesday.  MIR reiterated that 80% of its 2002 forecast is supported by
earnings from hedged (generation and natural gas) and franchise businesses
(distribution).  MIR also provided an in-depth review of how it accounts for
its risk management activities.  Management noted that it could maintain its
credit rating without any new equity issuance over the next 12 months.
However, it would be eager to access the equity market should conditions
improve in the near-term.

5. Power Market Update   Last week the US power markets were generally weak
across the country owing to mild weather and falling natural gas prices.
While the Mirant National Power Index fell 17.1% last week, the Natural Gas
Week composite spot price fell 23.2%.  Spark spreads improved in the
Northeast and Texas, while compressing in California and the Southeast.

6. Debt Market Update   Credit spreads tightened across the sector last week
due to diminished ENE concerns and positive stock price performance.

Regards,

Neil Stein   212/325-4217

This message is for the named person's use only. It may contain sensitive and private proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any mistransmission. If you are not the intended recipient, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. CREDIT SUISSE GROUP and each legal entity in the CREDIT SUISSE FIRST BOSTON or CREDIT SUISSE ASSET MANAGEMENT business units of CREDIT SUISSE FIRST BOSTON reserve the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorized to state them to be the views of any such entity. Unless otherwise stated, any pricing information give!
n !
in this message is indicative on
ly, is subject to change and


Message-ID: <10025833.1075852535643.JavaMail.evans@thyme>
Date: Thu, 25 Oct 2001 10:13:54 -0700 (PDT)
From: bruno@firstconf.com
To: energynews@fc.ease.lsoft.com
Subject: t,h: Eyeforenergy Update
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Bruno Russell <bruno@FIRSTCONF.COM>@ENRON
X-To: ENERGYNEWS@FC.EASE.LSOFT.COM
X-cc:
X-bcc:
X-Folder: \JTHOLT (Non-Privileged)\Tholt, Jane M.\Deleted Items
X-Origin: Tholt-J
X-FileName: JTHOLT (Non-Privileged).pst

This week, we present a series of fact sheets on Renewable Energy, published
by the United Nations Environment Programme (UNEP).  These provide a concise
synopsis of the benefits and issues surrounding some of the different types
of renewable and alternative energies.  Scroll down to find the link to the
complete page.

Also, we are privileged to have added the final speaker to the Green
Convention 2001, representing Enron Wind as well as the EWEA... find out
more below.

As always, please send any comments or enquiries to
mailto:bruno@eyeforenergy.com

CONTENTS:

   -  RENEWABLE ENERGY FACT SHEETS:
      from UNEP (United Nations Environment Programme) Energy

   -  EVENTS UPDATE: Final Speaker from Enron Wind and the EWEA announced
                     to complete the Green Convention 2001 line-up

   -  RECENT HEADLINES

RENEWABLE ENERGY FACT SHEETS

UNEPs Energy Programme addresses the environmental consequences of energy
production and use, such as global climate change and local air pollution.
It assists decision-makers in government and the private sector to make
better, more informed energy choices which fully integrate environmental and
social costs.

One of the areas UNEP Energy (www.uneptie.org) is concerned with is
renewable energy issues, and has published a series of Renewable Energy
Technology fact sheets on various types of renewable energies.

You can download a selection of them here:
http://www.eyeforenergy.com/content.asp?news=22168

EVENTS UPDATE

* Eyeforenergy Green Convention 2001
  Brussels, 5-6 November

Eyeforenergy has just secured our final speaker for the Eyeforenergy Green
Convention: Mr Andreas Wagner of Enron Wind.  Andreas, as well as being the
Director of Government and Regularory Affairs for Enron Wind, is also
Vice-President of the European Wind Energy Association.  On behalf of both,
he will bring his insight to the green debate as Chairman of the first day
of the Convention.

He joins a host of top-level speakers, set to bring you their expertise in
green commercial markets at this exclusive forum.  BP, Nuon, Essent, Erga,
the EC, Scottish Power, Birka Energi, RWE Power, to name just a few, will
all be there.  Can you really afford to miss out?

Remember that, as an Eyeforenergy reader, you qualify for a 20% discount -
with just over a week before the conference, make sure you secure your place
today!

Visit www.eyeforenergy.com/green for full details or contact Meabh Quoirin
at mailto:mquoirin@eyeforenergy.com

* EEO Europe: Energy Trading in the New Economy
  Amsterdam, 19-21 February 2002

Following up for our sell-out conference in Phoenix, December 2001 that was
attended by over 250 CEO's, senior executives and press, and Energy
Exchanges Online II:  Energy Trading in the New Economy USA (September
2001), Eyeforenergy brings you the premier networking and discussion
conference for the energy trading community.  Meet, do business and discuss
the big issues over 2 days with the leaders in energy trading in Amsterdam.

To find out more information, including discounts for pre-registration,
speaking, sponsoring and exhibiting opportunities, click here:
http://www.eyeforenergy.com/eurotrading/

* Emissions Trading 2002
  Okura Hotel, Amsterdam, 19-21 February 2002

Emissions trading options are ripe for the picking - so how can you make
sure you're ready to profit from GHG?  Let's face it - you can't really
afford not to be, especially as the World Bank has estimated demand in the
i


Message-ID: <17837995.1075840207751.JavaMail.evans@thyme>
Date: Thu, 7 Sep 2000 02:49:00 -0700 (PDT)
From: jwatson@velaw.com
To: kenneth.lay@enron.com
Subject: FW: SFLP Spreadsheet
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: "Watson, John" <jwatson@velaw.com>
X-To: "'Lay, Ken'" <kenneth.lay@enron.com>
X-cc:
X-bcc:
X-Folder: \Kenneth_Lay_Dec2000\Notes Folders\All documents
X-Origin: LAY-K
X-FileName: klay.nsf

Ken-Here is a first cut at a spread sheet for the distributions necessary to
return at lease $100,000 to everyone so no partner will have to put up any
new money.  Have you heard from Texaco or BFI? Also, Marathon committed to
the roll over, but not the referendum.  You may need to make a call to
Marathon to see if you can convince them on the referendum.  Conoco also
only committed to their proportionate part, probably about $50,000, for the
referendum and Don Sanders said he would commit $50,000 toward the
referendum.  We, therefore could have only $1 million from the partners on
the referendum if Marathon, Texaco and BFI don't contribute.  We do have
$100,000, however, from Reliant.  Moreover, without Sanders, BFI and
possibly Texaco, we may have only around $30 million to rollover into the
loan.  As soon as we can the final answers from all of the partners we will
be able to finalize the term sheet with the Sports Authority and get the
advance payment on the loan.  I still haven't heard from Goldberg on the
term sheet with the Rockets.

John S. Watson
Vinson & Elkins LLP
1001 Fannin
2300 First City Tower
Houston, TX 77002-6760
Voice: 713/758-2556
Fax: 713/615-5236
Email: jwatson@velaw.com

PRIVILEGED AND CONFIDENTIAL:
Contains attorney-client communications
and/or attorney work product

> -----Original Message-----
> From: Telle, Michael S.
> Sent: Wednesday, September 06, 2000 11:28 PM
> To: Watson, John
> Subject: SFLP Spreadsheet
> Importance: High
>
> John--
>
> Take a look at the attached spreadsheet which indicates that we would need
> a distribution of $3,350,100 to have enough for the smaller partners to
> contribute $100,000 to the referendum.  It also shows that we would have
> $32,301,000 left in the partnership to loan to the HCHSA.
>
> I don't have a printer at home, so I have not been able to print this out
> to check format, appearance, etc.; however, I may be out of pocket in the
> morning and wanted you to be able to look at this.
>
> Mike
>
>  <<SFLP.xls>>

 - SFLP.xls


Message-ID: <31895676.1075856247069.JavaMail.evans@thyme>
Date: Fri, 15 Dec 2000 03:14:00 -0800 (PST)
From: webmaster@cera.com
Subject: Refined Products Line--North American Markets - CERA Alert: Decem
 ber 15, 2000
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: "Webmaster@cera.com" <webmaster@CERA.com>
X-To:
X-cc:
X-bcc:
X-Folder: \Vincent_Kaminski_Jun2001_1\Notes Folders\All documents
X-Origin: Kaminski-V
X-FileName: vkamins.nsf

CERA Alert: December 15, 2000

Title: Refined Products Line--North American Markets
CERA Knowledge Areas: Refined Products

US Margin Highlights
* Responding to falling apparent demand and rising primary inventory levels,
US Gulf Coast unleaded gasoline margins versus WTI fell by $2.26 per barrel
to average $1.45 per barrel during November. Gasoline margins have returned
to a historically normal range after spending the summer of 2000 at
exceptionally high values. CERA expects gasoline margins to WTI to average
$2.75 per barrel during the first quarter of the New Year, $1.16 per barrel
lower than this year's first quarter average.

* High sulfur No. 2 fuel oil differentials with WTI dropped slightly,
averaging $5.97 per barrel in November. Despite the drop of $0.37 per barrel
from October's average, fuel oil differentials remain at unprecedented
values-$4.20 per barrel higher than a year ago and $3.46 per barrel greater
that the previous five-year average. For the first quarter of 2001, CERA
anticipates distillate margins to moderate somewhat but remain at a record
high level of $4.75 per barrel in the first quarter.

* Jet/kerosene differentials versus WTI rose $0.63 per barrel from the
October average, reaching a whopping $8.59 per barrel in November. In
correspondence with the distillate market, jet/kerosene margins are at
historically high levels and receiving support from relatively tight
fundamentals. CERA expects jet/kerosene margins to moderate somewhat in the
first quarter in response to seasonal weakening of demand following the
holiday travel season but to remain exceptionally strong at an average of
$5.75 per barrel.

* Margins for US Gulf Coast 1% sulfur residual fuel dropped by $2.15 per
barrel, reaching $3.99 per barrel below WTI during November. Despite the
recent widening of differentials, CERA expects soaring natural gas prices to
support relatively narrow residual fuel differentials throughout the winter
months. Residual fuel differentials are expected to average $2.50 per barrel
below WTI during the first quarter of next year, at the high end of the
historical range.

US Demand Highlights
* Apparent demand for unleaded gasoline fell seasonally by about 0.5 million
barrels per day (mbd) from the October level, reaching 8.36 mbd for the four
weeks ending December 8. Demand is averaging less than 1 percent below last
year largely because Y2K concerns helped inflate December demand a year ago.
CERA anticipates gasoline demand to continue to decline seasonally as colder
temperatures arrive, averaging 8.08 mbd during the first quarter of 2001.

* Reported distillate apparent demand remains exceptionally strong at 3.94
mbd for the four weeks ending December 8, over 7 percent greater than this
time last year. This represents a slight increase of about 0.05 million
barrels (mb) from the end-October level of 3.90 mb, but still a record high
level for early December. With support from low home heating oil inventories,
particularly in the Northeast, distillate demand has been very strong during
the fall of 2000. CERA expects demand to remain strong in the coming winter
months, averaging 3.79 mb during the first quarter of next year.

* Apparent demand for jet fuel declined by 5 percent from the October level
to reach 1.68 mbd for the four weeks ending December 8. Despite the decline,
apparent jet fuel demand is over 1 percent above the year-ago level. The
relative strength of jet fuel repo


Message-ID: <9933169.1075847414240.JavaMail.evans@thyme>
Date: Thu, 15 Mar 2001 16:59:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Tanya_Jones_June2001\Notes Folders\Notes inbox
X-Origin: JONES-T
X-FileName: tjones.nsf

BUSINESS HIGHLIGHTS

ENA Principal Investments:
Three transactions to date in 1Q 2001:
$2.5 million investment in Series C Convertible Preferred Stock of Silicon=
=20
Power Corporation ("SPC"), a leading designer, developer and manufacturer o=
f=20
a wide range of power semiconductor devices and systems.  SPC operates=20
through three divisions: The Power Components Division manufactures large=
=20
area semiconductors up to 125 mm which are used in high-power diodes,=20
thyristors, GTO thyristors and custom high pulse power rated devices.  Thes=
e=20
components are sold directly to OEM's in the heavy industrial, electric=20
utility, transportation, military and medical industries. The Industrial=20
Power Division specializes in systems level products providing utility and=
=20
power quality protection.  The Commercial Power Division designs and=20
manufactures semiconductors made by a planar process used to make discrete=
=20
power semiconductor devices and associates subsystems. More information can=
=20
be obtained from Kevin Kuykendall (33995), Jennifer Adams (33919) or from t=
he=20
Company's web page at: www.siliconpower.com

$2.25 million convertible bridge loan to Solo Energy Corporation, an existi=
ng=20
ENA Principal Investments portfolio company.  The funds are part of a $7.0=
=20
million bridge facility needed to fund overhead while negotiations continue=
=20
regarding a potential acquisition opportunity.  In addition to the conversi=
on=20
feature, ENA Principal Investments also received warrants to purchase 2.75=
=20
million additional shares in Solo Energy.  The Company is developing a 100 =
kW=20
microturbine, which utilizes a proprietary catalytic combustion process and=
=20
turbines, sourced from the automotive and marine sectors.  Placement of 50=
=20
beta units is planned at test sites selected by SCANA (a co-investor in Sol=
o=20
Energy) in the 2Q and 3Q, 2001.  Once the acquisition is completed, the=20
Company plans to complete an additional $30 to $50 million funding round. =
=20
More information can be obtained from Charlie Vetters (39435), Kyle Kettler=
=20
(30423) or from the Company's web page: www.soloenergy.com

$5.0 million Series D Convertible Preferred Stock of Encorp, Inc., an=20
existing ENA Principal Investments portfolio company.  The funds are part o=
f=20
a total of $38 million raised in the Series D round that should provide=20
funding for the company through mid-2002.  Encorp is among the worlds leadi=
ng=20
providers of products, services and solutions addressing the growing demand=
=20
for clean, reliable on-site power systems. The Company=01,s power technolog=
y=20
products include grid-interconnection switchgear and energy-automation=20
software.  ENCORP=01,s products, in combination with the Company=01,s=20
engineering-services team, create dependable, on-site power solutions that=
=20
can reduce the overall cost of energy for commercial and industrial custome=
rs=20
operating in the digital economy.  More information can be obtained from=20
Charlie Vetters (39435),  Kyle Kettler (30423) or from the Company's web=20
page: www.encorp.com

Enron Credit
Feeling exposed? If you are looking for ways to trade some credit exposure=
=20
out of your portfolio, visit EnronOnlineTM. Enron Credit now offers 3-year=
=20
and 5-year Credit Default Swaps for a number of companies every day on the=
=20
system.

Industrial Markets
Enron Industrial Markets has established its Key Goals and Objectives for=
=20
2001 for the Forest Products an

450 billion

NEWS FROM THE GLOBAL FLASH

EnPipe Services
The Continental Gas team is launching the first


Message-ID: <16769182.1075857486487.JavaMail.evans@thyme>
Date: Sun, 18 Jun 2000 09:59:00 -0700 (PDT)
From: rebecca.cantrell@enron.com
To: jane.tholt@enron.com
Subject: El Paso ADR Settlement Conference, June 12-13
Cc: phillip.allen@enron.com, randall.gay@enron.com, tori.kuykendall@enron.com,
	stephanie.miller@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: phillip.allen@enron.com, randall.gay@enron.com, tori.kuykendall@enron.com,
	stephanie.miller@enron.com
X-From: Rebecca W Cantrell
X-To: Jane M Tholt
X-cc: Phillip K Allen, Randall L Gay, Tori Kuykendall, Stephanie Miller
X-bcc:
X-Folder: \Jane_Tholt_Jun2001\Notes Folders\Discussion threads
X-Origin: Tholt-J
X-FileName: jtholt.nsf

In the final analysis, we did not make a lot of progress in reaching
agreement to settle the RP99-507 proceeding on El Paso's capacity allocation
proposal at the conference in San Francisco last week.

The parties have agreed to proceed on a dual track because of Burlington's
concerns about timing.  We will  reconvene for settlement discussions July 12
and 13 at Southwest Gas's offices in Las Vegas after comments and reply
comments are filed as permitted under the procedures agreed to at the May 2
technical conference at FERC.  Comments are due June 30 and reply comments on
July 7.  Amoco and Burlington filed the original complaint on September 21,
1999, and requested fast-track processing under the Commission's new
complaint procedures.  Burlington is pushing to have the Commission adhere to
the fast-track processing of the complaint, maintaining that an order should
have been issued within 240 days (I don't know where they got that from -- I
can't find any such requirement), and vehemently opposed any attempts to
extend the procedural schedule.

The tone of the meeting was set when Harvey Morris, representing the CPUC,
was allowed to make a statement because he had to leave by 1:30 (the meeting
started about 12:30).  He started by saying that the CPUC was in complete
opposition to the Settlement Proposal circulated by El Paso on June 6, and
then outlined all the reasons it was unfair to California shippers and was in
violation of the '96 Settlement.

After Harvey spoke, El Paso then reviewed its June 6 settlement proposal,
which you received by e-mail, and provided some additional explanations of
assumptions, etc.  Then the parties met in individual groups to caucus on
their positions and reconvened as a group to discuss.

Of particular note was the allocation of the 360 MM/d of San Juan-only
capacity that El Paso proposed to take back from Burlington (97J4) and Amoco
(97JB).  El Paso said that it had been allocated 106 MM to the Havasu
shippers, 180 MM to the EOC shippers, and 74 MM to all others (California CD
shippers).  This was a major point of contention in most of the ensuing
discussions -- California shippers objected to EOC getting the lion's share
of the additional San Juan capacity.  Under El Paso's proposal, EOC shippers
would get 82% of their rights from San Juan and 18% from Permian, based on
BDs.  CD shippers, on the other hand, get 61% and 39%, respectively.

EOC shippers pointed out that the BDs were not actually representative of
their load.  BDs were simply a number negotiated among the EOC shippers to
allocate the costs that were allocated between EOC and California in the '96
settlement.  Certain EOC shippers suggested that their specified rights
should be based on some other calculation, such as non-coincident peak day
usage, rather than BD.

Another major issue was the proposal that full requirements shippers (FR
shippers) be given systemwide receipt point rights in addition to the
specified rights they would get based on their billing determinants (BD).  El
Paso proposed that these systemwide rights would have a scheduling priority
superior to that of a CD shipper using its capacity on an alternate firm
basis (either a

00 by changing the way they
eliminate fuel used in facilities that have


Message-ID: <7666515.1075841640807.JavaMail.evans@thyme>
Date: Thu, 18 Jan 2001 15:17:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \kate symes 6-27-02\Notes Folders\All documents
X-Origin: SYMES-K
X-FileName: kate symes 6-27-02.nsf

BUSINESS HIGHLIGHTS

Global Risk Management Operations
Operational Risk Management was the topic of an information session held la=
st=20
week for all managers and above in ENW who support trading operations for E=
A,=20
EIM and EGM in Houston, Portland and Calgary.  Operations professionals, wh=
o=20
manage risk book reporting and analysis, confirmations, physical product=20
scheduling and cash management reaffirmed their roles in effectively=20
accessing, managing and mitigating operational risk.  This focus on=20
operational risk management will ensure the quality of EWS' earnings, and=
=20
support a platform for continuing growth across all commodities in 2001.

Steel Origination=20
Since its inception in September, the steel group has grown to over 40=20
people.  They have contacted the majority of the key industry players and=
=20
received positive feedback.  Additionally, the group has executed both=20
physical and financial trades and has 10 products posted on EnronOnline.

Steel prices are at a 20-year low, several large producers have recently=20
filed for bankruptcy protection, and capital is scarce. The industry needs=
=20
both liquidity and price risk management. At this time, Enron is the only=
=20
company offering these products. A middle-market group has recently been=20
formed, which will allow the originators to focus on longer term deals with=
=20
embedded capital. The biggest challenge is bringing the "old economy "=20
incumbents up to speed on derivatives. There may also be some credit issues=
.=20
Stay tuned for cash flow and earnings.

MANAGING DIRECTOR & VICE PRESIDENT APPOINTMENTS
Congratulations to the new Managing Directors and Vice Presidents in=20
EA/EIM/EGM.

Managing Director =01) Commercial
Phillip K. Allen, West Gas Trading   Timothy J. Detmering, Corporate=20
Development Joseph M. Deffner, Treasury & Funding=20
Timothy N. Belden, West Power Trading   William D. Duran, Generation=20
Investments Phillip R. Milnthorp, Canada Origination=20
Christopher F. Calger, West Power Origination  =20

Managing Director =01) Commercial Support
Sally W. Beck, Energy Operations Management=20

Vice President =01) Commercial  =20
Albert E. McMichael, Jr., Gas Commodity Structuring Christopher Mahoney,=20
Liquids Trading  Kevin J. McGowan, Coal
Niamh Clarke, Liquids Trading    Lloyd D. Miller, Portfolio Management  Joh=
n=20
A. Zufferli, Canada Power Trading
Derek J. Davies, Canada Origination   Per A. Sekse, Global Risk Markets =20
Rogers Herndon, East Power Trading
Mark D. Davis, Jr., East Power Trading   Mark Tawney,  Weather Trading  =20
Michael D. Grigsby, West Gas Trading=20
Paul Devries, Canada Origination              Barry L. Tycholiz, West Gas=
=20
Origination  Mark Whitt, West Gas Origination
Christopher H. Foster, West Power Trading  Frank W. Vickers, East Gas=20
Origination =20

Vice President =01) Commercial Support
Laura Scott, Canada Accounting    Richard C. Sherman, Transaction Support=
=20
Georganne M. Hodges, Trading, Origination &  Power Plant Accounting=20

Vice President =01) Specialized Technical=20
Peter C. Keohane, Canada Legal    Elizabeth A. Sager, Physical Trading =20
Pinnamaneni V. Krishnarao, Research Group  Richard B. Sanders, Litigation
Travis McCullough, Finance Origination & Mergers/Acquisitions

Weekly EnronOnline Figures
Below are figures for EnronOnline as of January 12, 2001.

* Total Life to Date Transactions   >   560,000
* Life to Date Notional Value of Transactions   >   $340 million=20

IN THE


Message-ID: <5310065.1075841611712.JavaMail.evans@thyme>
Date: Thu, 2 Nov 2000 15:19:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: Ameriflash Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \kate symes 6-27-02\Notes Folders\All documents
X-Origin: SYMES-K
X-FileName: kate symes 6-27-02.nsf

BUSINESS HIGHLIGHTS

Oil Products
The Oil Products Group executed a 1 year physical transaction, whereby Enro=
n=20
supplies Delta Airlines 100,000 barrels/month for one year beginning in =20
November of 2000, for a total of 1.2 million barrels.

Weather
On December 6 at 7pm, the Weather Channel will run a 15 minute special=20
interest story on Weather Derivative trading.  Approximately 8 minutes of=
=20
this telecast will focus on the Enron Weather Risk Management group, led by=
=20
Mark Tawney, director. In September, a film crew spent two days recording t=
he=20
group's activities and interviewing Mark Tawney; Steven Vu, head of trading=
;=20
Gary Taylor, head of marketing; and Brando Hayden, trader.  Efforts to=20
publicize Enron's leading position in the Weather Risk marketplace have=20
included this television show, the Enron Corp commercial focused on weather=
=20
risk management, and several articles written by members of the Enron Weath=
er=20
Trading group.  What's next?  Enron Weather: the Movie - coming soon to=20
theatres near you!

Principal Investments
Tridium Inc., the leading provider of Internet-based automation=20
infrastructure solutions, announced the closing of a $20 million round of=
=20
capital funding. The funds will be used to increase Tridium=01,s sales and=
=20
technical support offices in North America, expand its operations into Euro=
pe=20
and Asia, and enhance its technology and products. kRoad Ventures, L.P. and=
=20
Enron North America each contributed $10 million in venture capital.

Energy Capital Resources
Westwin Energy, LLC, a privately held oil and gas exploration and productio=
n=20
company based in Midland, has been formed by the former management team of=
=20
ARCO Permian.  Along with the company=01,s formation, Westwin announced its=
=20
financial partner, which is Enron North America.  Westwin Energy will focus=
=20
on drilling opportunities and select acquisitions in the Permian Basin of=
=20
West Texas and Southeast New Mexico.

Enron Industrial Markets Fundamentals Analysis
Following the example of other Enron entities, Enron Industrial Markets has=
=20
established a Fundamentals Analysis Group.  Under the direction of Andrea=
=20
Reed, the group is similar to the others, with the objective of providing=
=20
market, industry, and regulatory information and identifying potential=20
commercial opportunities for originators and traders.  Doug Moreno and Caro=
l=20
Marshall are the information experts.   They are presently working to=20
aggregate all of Enron=01,s various resources into a library and a website=
=20
(coming soon at http://eimfundy.dev.corp.enron.com/).  Jennifer Riley is th=
e=20
quantitative analyst, and has already analyzed a number of statistical=20
relationships for the business entities to identify possible hedging=20
strategies.  Peggy Determeyer (steel) and Karen Carter (paper/pulp and=20
lumber) will be providing analytical services to the two primary product=20
lines. Tammy Davis keeps them all organized with terrific administrative=20
support.  Doug, Jennifer, Tammy, and Carol have followed Andrea from her=20
previous Merchant Asset Portfolio Management assignment, while Peggy and=20
Karen have joined from Enron South America and Enron North America,=20
respectively.  If you have any ideas for critical analyses or information=
=20
needs, contact one of them for help.=20

Foreign Exchange (FX) and Sovereign Risk (ENA Research Group)=20
In last week=01,s Ameriflash newsletter, we intr


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Date: Mon, 21 May 2001 01:40:00 -0700 (PDT)
From: ann.schmidt@enron.com
Subject: Enron Mentions - 05/19/01
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8 Concerns Get Saudi Gas Project Role
The New York Times, 05/19/01

8 Western Firms Picked for Huge Saudi Gas Project
Los Angeles Times, 05/19/01

2 Houston-based companies win Saudi gas prize / Kingdom inviting 8 Western
firms back in
Houston Chronicle, 05/19/01

Utility withdraws offer of aid
Associated Press Newswires, 05/19/01

Racicot lobbying for energy giant Enron
Associated Press Newswires, 05/19/01

INDIA: SBI says Enron move not to hit lenders.
Reuters English News Service, 05/19/01

Enron threatens to stop electricity supply to Indian state
Associated Press Newswires, 05/19/01

Gas bonanza in Saudi for BP and Shell: Eight companies are given stakes in
pounds 15 billion bid to develop South Ghawar reserves
The Daily Telegraph, 05/19/01

Western oil companies invited back by Saudis
The Independent - London, 05/19/01

DPC issues PTN to MSEB, Deshmukh terms it as "improper step"
Press Trust of India Limited, 05/19/01

India's largest US investor Enron issues pull-out warning
Agence France-Presse, 05/19/01

Lenders to Dabhol to vote on termination notice
The Economic Times, 05/19/01

Business/Financial Desk; Section C
8 Concerns Get Saudi Gas Project Role
AP

05/19/2001
The New York Times
Page 2, Column 5
c. 2001 New York Times Company

DALLAS, May 18 -- The Exxon Mobil Corporation and Royal Dutch/Shell led a
group of eight oil companies that will take part in a $25 billion gas
development program in Saudi Arabia, the country's biggest opening of its oil
and gas industry to outsiders since the 1970's.
The Western companies will help Saudi Arabia convert its utilities, which now
burn oil, to natural gas. This would free more crude oil for export.
The other companies selected are BP P.L.C., TotalFinaElf S.A., Conoco Inc.,
the Phillips Petroleum Company, the Occidental Petroleum Corporation and the
Enron Corporation. Saudi Arabia's government-owned energy company, Saudi
Aramco, will be an equity owner in the projects.
Exxon Mobil, based in Irving, Tex., the world's largest publicly traded oil
company; Shell; BP; and Phillips were picked to participate in the biggest of
the projects, a $15 billion development in the South Ghawar region, according
to the official Saudi Press Agency. The lead company was not announced.
Exxon Mobil was also selected to lead a smaller Red Sea project that involves
Enron and Occidental. Exxon Mobil said the combined investment in both
projects would total $20 billion.
Shell, TotalFinaElf and Conoco will help develop gas at Shaybah in southeast
Saudi Arabia.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Business; Financial Desk
8 Western Firms Picked for Huge Saudi Gas Project
From Times Wire Services

05/19/2001
Los Angeles Times
Home Edition
C-2
Copyright 2001 / The Times Mirror Company

Exxon Mobil Corp. and Royal Dutch/Shell Group led a group of eight Western
companies named Friday that will take part in a $25-billion natural gas
development program in Saudi Arabia, the kingdom's biggest opening of its
energy industry to outsiders since the 1970s.
The companies, including Occidental Petroleum Corp. of Los Angeles, will help
Saudi Arabia convert oil-burning utilities to natural gas, which would free
up more of the kingdom's crude oil for export. The other companies selected
were BP of Britain, Total Fina Elf of France and American energy firms Conoco
Inc., Phillips Petroleum Co. and Enron Corp., the official Saudi news agency
said.
For Saudi Arabia, the program would create jobs and spur an economy saddled
with a 15% unemployment rate. For

3 billion power project in western India is the largest


Message-ID: <10596825.1075848197979.JavaMail.evans@thyme>
Date: Fri, 1 Jun 2001 01:00:00 -0700 (PDT)
From: ann.schmidt@enron.com
Subject: Enron Mentions
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Democrats Prepare to Duel Bush Over Energy Price Caps in West
The Wall Street Journal, 06/01/01

Electricity Trading Is Target of State Probe Regulation: A special Senate
panel is investigating alleged price manipulation of power transactions.
Los Angeles Times, 06/01/01

Companies Rush to Purchase Their Indian Units, Boosting Share Prices of
Concerns With Foreign Ties
The Wall Street Journal, 06/01/01

Exxon, Shell Poised to Win Saudi Deals --- They Appear Favored To Lead Key
Projects In Coveted Gas Sector
The Wall Street Journal, 06/01/01

NEW PACKAGE TO RESOLVE DPC, INDIA'S MSEB SITUATION: OFFICIAL
Asia Pulse, 06/01/01

GLOBAL INVESTING: Betting on better times for utilities
Financial Times; Jun 1, 2001

INTERNATIONAL ECONOMY, MIDDLE EAST & AFRICA: Hopefuls await details of Saudi
gas deal Financial Times; Jun 1, 2001

FITCH PLACES INDIA ON NEGATIVE RATING OUTLOOK ON FISCAL CONCERNS
Asia Pulse, 06/01/01

Thomas E. White becomes Secretary of the Army
M2 Presswire, 06/01/01

Some light at last!
The Economic Times, 06/01/01

Calif. investigations focus on whether out-of state wholesalers manipulated
energy prices
Associated Press Newswires, 06/01/01

California Lawmakers Eye Billing Businesses for Edison Rescue
Dow Jones Business News, 05/31/01

Construction of power plant in DeSoto County is underway
Associated Press Newswires, 05/31/01

Politics & Policy
Democrats Prepare to Duel Bush Over Energy Price Caps in West
By John Harwood and Jeanne Cummings
Staff Reporters of The Wall Street Journal

06/01/2001
The Wall Street Journal
A16
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- If you talk to economists, many will say President Bush is on
solid ground in opposing caps on soaring electricity prices in California and
elsewhere. But if you talk to voters, many will suggest he has political
problems.
And now that Democrats control the U.S. Senate, they are poised to make those
problems a lot worse.
Mr. Bush got a taste of what is coming in his widely touted showdown with
California Gov. Gray Davis in Los Angeles this week. The Republican president
repeated his familiar argument that capping wholesale electricity prices
would do nothing to curb demand or increase the supply of power for
California. But the Democrats' Mr. Davis, fortified by polls showing that 70%
of Californians favor price caps, managed to get equal billing during Mr.
Bush's visit for his argument that they are needed to keep the state from
slipping into recession and threatening the national economy in the process.
Because Sen. Jim Jeffords of Vermont left the Republican Party last week and
changed control of the Senate, Democrats now have a more effective national
platform to press the same arguments -- and to threaten Mr. Bush's political
standing beyond the already hostile turf of California. The incoming chairman
of the Senate Energy and Natural Resources Committee, Democratic Sen. Jeff
Bingaman of New Mexico, says he plans to move soon on legislation capping
prices for California and other Western states, a bill that has attracted
some GOP support as well.
"I think it's clear to anybody that the prices being charged for wholesale
power are excessive," said Sen. Bingaman, in an interview while he was
heading toward California on a fact-finding mission. "I don't believe it's
going to be adequate to get us through this summer, to just continue saying
that eventually supply will come into line with demand and the problems will
be resolved."
Meantime, the incoming chairman of the Permanent Subcommittee on
Investigations, Demo


Message-ID: <7236147.1075848119273.JavaMail.evans@thyme>
Date: Fri, 8 Dec 2000 00:18:00 -0800 (PST)
From: steven.kean@enron.com
To: mark.schroeder@enron.com, richard.shapiro@enron.com,
	elizabeth.linnell@enron.com
Subject:
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----- Forwarded by Steven J Kean/NA/Enron on 12/08/2000 08:18 AM -----

	<Suzanne_Nimocks@mckinsey.com>
	12/07/2000 02:09 PM

		 To: <skean@enron.com>
		 cc:
		 Subject:

I thought that you (or some of your colleagues) might find the attached
update on country by country restructuring to be helpful.
----- Forwarded by Suzanne Nimocks/HOU/NorthAmerica/MCKINSEY on 12/07/2000
01:30 PM -----
       Memorandum

    TO:        Adam Lewis
       Alberto Marchi
       Andrew Hertneky
       Andy Steinhubl
       Angela Kuster
       Anjan Asthana
       Antonio Puron
       Antonio Volpin
       Arne Germeyer
       Arturo Vernon
       Ashutosh Shastri
       B. Venki Venkateshwara
       Barbara Fletcher
       Barbara House
       Ben Joyce
       Bernard Minkow
       Bob Edwards
       Bob Felton
       Boris Galonske
       Brian Schofield
       Brian Tulloh
       Buford Alexander
       Carlo Yu
       Carlos Torres
       Carol B White
       Carolyn Loos
       Cecilia Bergman
       Charlie Taylor
       Christoph Brombacher
       Christoph Grobbel
       Claude Genereux
       Corinne Aigroz
       Csilla Ilkei
       Dalila Villar
       Daniel Poller
       Eileen Burnett-Kant
       Enrique de Leyva
       Eric Bartels
       Eric Hanlon
       Eric Lamarre
       Francis Hodsoll
       Franco Magnani
       Francois Lepicard
       Frank-Detlef Drake
       Frank Weigand
       Gerald Klenner
       German Dominguez
       Gerrit van Geyn
       GIANCARLO GHISLANZONI
       Gjermund _ydvin
       Glenn Payne
       Helen Warwick
       Hugo Baquerizo
       Humayun Tai
       Ignacio Quesada
       Intam Rinawati Dewi
       Ivo Bozon
       Jaap Kalkman
       Jan Christer Tryggestad
       Jason Hicks
       Jason Rabbino
       Javier San Felix
       Jeff Walker
       Jessica Ciccone
       Jessica O'Connor-Petts
       Jim Ayala
       Jim Bowen
       Jim Humrichouse
       Jim O'Reilly
       Jim Robb
       Joan Westmoreland
       Joelle Gatineau
       Jon Zagrodzky
       Jonathan Woetzel
       Jorge Fergie
       Jose Federico Castillo
       Jose Maria del Aguila
       Jourik Migom
       Jud Morrison
       Judith Lezaun
       Judy Wade
       Karel Tutein Nolthenius
       Keith . Leslie
       Kelly Kienzle
       Ken Ostrowski
       Kristina Kalinova
       Jyoti Suri
       Lar Bradshaw
       Leonardo Senni
       Leonhard Birnbaum
       Les Silverman
       Linda Mansfield
       Lisa Schwallie
       Luca D'Agnese
       Luis Troyano
       Marcelino Susas
       Marina Ospina
       Mark Ellis
       Marko Schulz
       Marla Aizenshtat
       Matt Rogers
       Menno van Dijk
       Michael Linders
       Michael Morcos
       Mike Juden
       Mike Terry
       Miriam Alvarez
       Nicolas Borges
       Olga Perkovic
       Pablo Toja
       Pankaj Jain
       Pascale Michaud
       Patricia Miller
       Paul Jansen
       Paul Kolter
       Paul LeBrun
       Paul Parfomak
       Pawel Konieczniak
       Per Lekander
       Peter Bisson
       Peter Sidebottom
       Pierre-Yves Ouillet
       Pierre-Yves Roussel
       Pru Sheppard
       Rob Latoff
       Robert Palter
       Robert Samek
       Rodrigo Rubio
       Rogene McCoy
       Roger Abravanel
       Ron Bloemers
       Ruggero Jenna
       Rui De Sousa
       Sally Lindsay
       Scott Andre
       Scott Graham
       Sesha Narayan
       Simon Lowth
       Suzanne Nimocks
       Tera Allas
       T

2004 either to sell one business type or
              to set up a separate trust


Message-ID: <246870.1075861933399.JavaMail.evans@thyme>
Date: Mon, 19 Nov 2001 08:11:50 -0800 (PST)
From: smarra@isda.org
Subject: ISDA PRESS REPORT - NOVEMBER 19, 2001
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ISDA PRESS REPORT - NOVEMBER 19, 2001

ACCOUNTING
	*	Japanese Accounting Changes - The Nikkei Weekly

CREDIT DERIVATIVES
	*	ISDA addresses successor/convertible issues - IFR
	*	New York dealers go it alone on default swap clause - IFR

ENERGY
	*	What Enron Did Right - The Wall Street Journal

OPERATIONS
	*	FpML group joins ISDA - IFR

Japanese Accounting Changes
November 18, 2001 - Derivatives Week (Learning Curves)

There have been major changes to accounting standards in Japan which, by the
time they have all been implemented will have brought Japanese accounting
standards broadly into line with international norms. These changes are
comprehensive and include the introduction of fair value --or
mark-to-market--accounting. This last change, although seemingly innocuous
will be particularly powerful in its impact.

But What Has All This To Do With Derivatives?

The introduction of mark-to-market accounting requires listed Japanese
companies to record their holding of marketable property assets and
securities at current market value rather than at book value. This means
that balance sheets will no longer be buttressed by assets valued at
inflated bubble economy levels. But most crucially profit streams will
become exposed to movements in equity markets, as the definition of
securities includes the cross shareholdings which bind members of Japan's
Keiretsu and other business groupings. These are substantial in Japan,
accounting for perhaps 40% of all shareholdings.

The unwinding of cross shareholdings is undoubtedly one of the factors
behind the recent weakness of Tokyo stock prices, not least as foreign
buyers who had been soaking up much of the unwound cross held shares coming
onto to the market have been notably absent over the past few months.

Hence there has been much talk about how best to unwind these cross
shareholdings without further depressing the market. Where possible firms
with mutual shareholdings have been seeking arrangements that are
effectively straight swaps. But derivatives can also play their part.

Many corporates with large shareholding disposal programmes have been
actively seeking to hedge their equity exposure as they embark on their
share sale process. Often they have effected this through the use of call
options. Thus if the market falls they have at least benefited from the
premium earned at the time of the sale of the call option and if the market
rises and the option is called by the purchaser then the shares have been
successfully disposed of, but without further dampening an already weak
market.

Financial institutions have also been combining a similar strategy with
stock lending, thereby gaining both the option premium and a lending fee.
Certainly many market observers have been reporting an increase in such call
option trades over the past year or so. Moreover even for firms that do not
wish to sell down their equity portfolios, the increased profit volatility
which will result from having to revalue portfolios and book these changes
though the profit and loss account will significantly increase the
attractions of hedging. Allied to this and flowing from the realisation of
the full extent of the weakness of many Japanese financial institutions,
there has also been an increase in the use of credit derivatives which has
allowed investors to sell the risk of entering into a transaction with a
Japanese bank. This market has been cyclical, rising and falling with the
changes in perceptions of the true financial state of the country's banking
sec

2001

The International Swaps and Derivatives Association last