synfuel option valuation lenny believe must done home work tax credit issue however may make sense create kind reserve case tax credit removed future glad like way treat tax credit built strike price digital option tax credit likely option exercised paulo issler person worked model initially back wednesday talk standard deviation put model zimin lenny hochschild enron 02 12 2001 08 15 zimin lu hou ect ect cc subject synfuel option valuation zimin thanks e mail sorry late reply travelling last week impression new administration greater chance section 29 extended beyond 2007 repealed happens contractually right extend contract valued chance happening think value chance happening anyways let speak supervisor revert meantime looked amendment made regard adding second strike tax credit think reflective deal happy still understand things st deviations come believe said someone works put together away last week please revert name get together understand thanks lenny zimin lu ect 02 06 2001 01 09 pm lenny hochschild na enron enron cc eric groves hou ect ect stinson gibner hou ect ect subject synfuel option valuation lenny think good discussion deal valuation one thing think prefectly aware economics deal driven tax credit 25 03 risk side tax credit removed aig deliver synfuel pay 4 55 us vince mentioned congress might act quickly enough eliminate tax benefit want remind take risk consideration zimin ps changed results sheetl slightly values column shifted 0 5 use attached model