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                                                                    EXHIBIT 10.2

                      AMENDED AND RESTATED CALL AGREEMENT


     THIS AMENDED AND RESTATED CALL AGREEMENT (this "Agreement"), is made and
entered into as of May 16, 2000, among EEX CAPITAL, INC., a Delaware limited
liability company ("Buyer") and BOB WEST TREASURE L.L.C. ("Seller").

     WHEREAS, contemporaneous with the formation of EEX Reserves Funding LLC, a
Delaware limited liability company (the "Company"), (i) Seller acquired 300
membership units ("Units") in the Company (the "Interest"), (ii) Buyer acquired
6 Units, and (iii) and an affiliate of Buyer acquired 294 Units; and

     WHEREAS, Buyer and Seller have agreed that Buyer shall have the option as
set forth in Section 1 below, and upon execution by EEX E&P Company, a Delaware
limited partnership ("EEX E&P"), EEX E&P shall have the option set forth in
Section 2 below; and

     WHEREAS, to effect said agreement, the parties hereto executed that one
certain Call Agreement dated December 17, 1999; and

     WHEREAS, the parties wish to restate same to modify certain terms thereof,
as set forth herein;

     NOW, THEREFORE, in consideration of the agreements and mutual covenants and
agreements contained herein, Buyer and Seller agree as follows:

     1.  Call Option.

          a.  Ability to Call.  At any time after the termination of that
     certain Natural Gas Prepaid Forward Sale Contract dated December 17, 1999,
     between Seller and EEX E&P (formerly Tesoro E&P Company, L.P.), as amended
     by that certain First Amendment to Natural Gas Prepaid Forward Sale
     Contract dated the date hereof (said Natural Gas Prepaid Forward Sale
     Contract, as amended and as it may from time to time be further amended,
     restated or otherwise modified, the "Forward Sale Agreement"), and upon the
     payment in full of all of the obligations, if any, of EEX E&P thereunder
     and under the Mortgage and the Letter Agreement, as said terms are defined
     therein.  Buyer shall have the option to purchase, and thereupon Seller
     shall have the obligation to sell, the Interest at a price equal to the
     Call Price as defined in paragraph l b (such option to sell and reciprocal
     obligation to purchase are hereinafter referred to as the "Call"). If Buyer
     wishes to exercise the Call, Buyer shall deliver a written notice (the
     "Call Notice") to Seller notifying Seller of its desire to exercise the
     Call. The closing for the purchase by Buyer of the Interest upon exercise
     of the Call shall occur at Buyer's principal office, or at such other place
     as shall be mutually agreeable to Seller and Buyer, within three business
     days after the receipt by Seller of the Call Notice (such date of closing
     is hereinafter referred to as the "Call Closing Date").
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          b.  Call Price.  For purposes of this Letter Agreement, "Call Price"
     shall mean a price equal to the lesser of $5,000,000 and the fair market
     value of the Interest, provided that the fair market value shall not exceed
     the equity percentage represented by the Interest in the oil and gas
     reserves of EEX E&P Company, L.P. (measured by the PV-10 value of such
     reserves, meaning the value of future net cash flows from proved reserves
     before taxes discounted at a rate of 10%). At Buyer's option, the Call
     Price may be paid in cash or common stock of EEX Corporation ("EEX Stock"),
     or a combination of cash and EEX Stock, the value of shares of which will
     be determined based on the average closing price of EEX Stock for the five
     business days preceding the Call Closing Date.

          c.  Termination of Call. The Call shall terminate five years after the
     date of termination of the Forward Sale Contract.

     2.  Option to Terminate Forward Sale Agreement. EEX E&P, at its option and
independently from the Call, upon sixty (60) days prior written notice to Buyer
and Seller, may terminate the Forward Sale Agreement and repurchase all Natural
Gas previously sold under the Forward Sale Agreement, by paying to Seller the
Termination Payment plus all Unpaid Amounts. Following such payment, the Forward
Sale Agreement shall be automatically terminated without the need for further
action by any party. Capitalized terms in this Paragraph 2 have the meaning
ascribed to such terms in the Forward Sale Agreement.

     3.  Notices.  All notices, requests, demands, and other communications
required or permitted to be given or made hereunder by any party hereto shall be
in writing and shall be delivered in accordance with, and pursuant to the terms
and conditions regarding notices set forth in the Limited Liability Company
Agreement of the Company.

     4.  Binding Effect: Assignment; No Third Party Benefit. This Agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. Except as otherwise expressly
provided in this Agreement, neither this Agreement nor any of the rights,
interests, or obligations hereunder shall be assigned by any of the parties
hereto without the prior written consent of the other parties. Nothing in this
Agreement, express or implied, is intended to or shall confer upon any Person
other than the parties hereto, and their respective successors and permitted
assigns, any rights, benefits, or remedies of any nature whatsoever under or by
reason of this Agreement.

     5.  Severability. If any provision of this Agreement is held to be
unenforceable, this Agreement shall be considered divisible and such provision
shall be deemed inoperative to the extent it is deemed unenforceable, and in all
other respects this Agreement shall remain in full force and effect; provided,
however, that if any such provision may be made enforceable by limitation
thereof, then such provision shall be deemed to be so limited and shall be
enforceable to the maximum extent permitted by Applicable Law.

  6.   GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO
THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF.
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  7.   Counterparts.  This Agreement may be executed by the parties hereto in
any number of counterparts, each of which shall be deemed an original, but all
of which shall constitute one and the same agreement. Each counterpart may
consist of a number of copies hereof each signed by less than all, but together
signed by all, the parties hereto.

                 REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.
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     IN WITNESS WHEREOF, the parties have executed this Agreement, or caused
this Agreement to be executed by their duly authorized representatives, all as
of the day and year first above written.

                                 BUYER:

                                 EEX CAPITAL, INC.

                                 By:  /s/ J. T. Leary
                                      ----------------------------
                                      J. T. Leary
                                      Vice President


Upon execution of this Agreement by EEX E&P or by its duly authorized
representative, where indicated below, EEX E&P will have the option to terminate
the Forward Sale Agreement as provided in Section 2 above.

                                 EEX E&P COMPANY, L.P.

                                 By:  EEX Exploration and Production Company,
                                      LLC, its General Partner

                                      By:  /s/ J. T. Leary
                                           -----------------------
                                           J. T. Leary
                                           Vice President
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                                 SELLER:

                                 BOB WEST TREASURE L.L.C.

                                 BY:  ENRON NORTH AMERICA CORP.,
                                      ITS MANAGING MEMBER

                                      By: /s/ James R. McBride
                                          ---------------------------
                                          James R. McBride
                                          Vice President