postbot/aeslc_kw huggingface dataset:
Subject: Special Telephonic Meeting of the Board of Directors of Mariner  Energy, Inc.

Please see attached Special Telephonic Meeting of the Board of Directors of Mariner Energy, Inc. for September 12, 2001.
Thank you.
Donna M. Cagle Executive Administrator to President & CEO Mariner Energy, Inc. 580 WestLake Park Blvd., Suite 1300 Houston, TX  77079 281/584-5511 (phone)     281/584-5515 (fax) dcagle@mariner-energy.com   <<Mtg.
Notice to BOD - Special.doc>>
Subject: Management Committee Meeting - Wednesday, September 12 at 1:00 p.m.

Please plan to attend a Management Committee meeting scheduled for Wednesday, September 12 at 1:00 p.m. in the boardroom.
Please contact Joannie Williamson if you are unable to attend.
The meeting should last one hour and agenda items include Xcelerator and merchant investment portfolio.
Thanks,
Subject: SAVE THE DATE -- Enron Management Conference, November 14-16, 2001

Mark your calendar.
The Enron Management Conference will be held Wednesday through Friday, Nov. 14-16, 2001, at the Westin La Cantera Resort in San Antonio, Texas.
This has been an eventful and challenging year for Enron.
As I've said before, we are a company that continues to look to the future, and there are many exciting things on the horizon.
Please join me at this year's conference to plan our strategy and success for the new year and beyond.
Watch for an agenda and registration information in the next few weeks.
I look forward to a good meeting and to seeing you there.
Regards,
Subject: Constellation Power Source - Reserve Deal #764846

Please note the following addition to the domestic credit reserve for September 2001:  CP:  Constellation Power Source, Inc. Deal No: 764846.1 Deal Date:  9/06/2001 Deal Specifics:  EPMI to buy 50MW On-Peak Power at PJM for Calendar Year 2005.
Term:  1/1/2005 thru 12/31/2005 Volume:  50 MWs On-Peak Price:  $37.75 Delivery Point:  PJM (Western Hub) Trader/Mid-Marketer:  Rob Benson Credit Reserve Amount:  $10,200 (ten thousand two hundred US dollars)  RAC: transaction confirmed under Executed EEI dated 2/20/2001.
Please call w/any questions.
Regards,
Subject: Attachment for the Special Telephonic Meeting of the Board of  Directors of Mariner Energy, Inc.

Please see attached file on the Swordfish Prospect for use in this afternoon's board meeting at 2:00 pm.
Later this morning, I will be forwarding another attachment on the Falcon Prospect.
Thank you.
Donna M. Cagle Executive Administrator to President & CEO Mariner Energy, Inc. 580 WestLake Park Blvd., Suite 1300 Houston, TX  77079 281/584-5511 (phone)     281/584-5515 (fax) dcagle@mariner-energy.com   <<Swordfish.ppt>>
Subject: Morgan Stanley Cal 04 Reserve for EOL

Please note the following addition to the domestic credit reserve for September 2001:  CP:  Morgan Stanley Capital Group Inc. Deal No: 768891.1 EOL No: 1838461 Deal Date:  9/10/2001 Deal Specifics:  EPMI to sell 50MW On-Peak Power into SOCO for Calendar Year 2004.
Term:  1/1/2004 thru 12/31/2004 Volume:  50 MWs On-Peak Price:  $35.15 Delivery Point:  SOCO Trader/Mid-Marketer:  Kevin Presto Credit Reserve Amount:  $20,000 (twenty thousand US dollars)  RAC: transaction confirmed under Executed EEI dated 7/1/1997.
Please call w/any questions.
Kortney x30616
Subject: Management Committee Listing

I plan to distribute at the beginning of each month.
Please let me know if you have any changes.
Note:  Greg Whalley will be located at EB3324 and Liz Taylor at EB3322 until September 24.
Thanks,
Subject: Enterprise Portal/Information Management project Cancellation  Meeting

To: All Attendees  Due to extenuated circumstances, today's meeting 2:00 - 3:00 pm.
(Enterprise Portal/Information Management Project Meeting) will be cancelled.
We will you with an alternate meeting time as soon as possible.
Thank you for your patience.
Best Regards,
Subject: People

Hi Rick.
Hope your holding up.
We are going to have all of the "on-going concern" activities here in the old building on the 30-31-32 floors.
We will be splitting the estate infrastructure into two functions: on-going activities (contracts/assets we will continue to serve and perform under) and wind-up/liquidation activities.
Jim Fallon will be managing the latter function and I believe he is staying in the new building for now.
We need to ensure that we have the appropriate folks from RAC engaged in the on-going concern function.
I'd prefer that we continue to have them located near our floors vs. move to another location (as I hear through the grapevine).
Could you suggest the folks that would be available to focus exclusively on on-going concern activities, and do you want them to stay on the 28th floor or move onto 31 with us?
Thanks.
Subject: Performance Evaluations

Below are the names of employees for whom we have not yet received Mid-Year 2001 Performance Evaluations from you.
Please do these ASAP.
Also, remember that all consolidated feedback on employees will be purged from the system effective 9/15/01.
Thanks.
CARSON, RICHARD L	 GORTE, DAVID	 HEATHMAN, KAREN K	   Shirley Cox Assistant to Sheila Walton 51721
Subject: GGFP Operations

We are deeply saddened by the tragic events of September 11th.
No doubt each of us has been affected personally in some way by this.
We would like to report that our offices are presently fully operational and you can reach us by phone, fax or e-mail to address any concerns you may have.
Please let us know if there is any way we can be of assistance to you.
Our strongest support and deepest sympathies go out to all our industry colleagues who have endured the horrors of these past days.
Subject: Churn for Kirk Merrikh

We are going to have to move Kirk to EB2248A because someone from the Executive team will be ,moving into his current spot at EB2253D.
Please let me know ASAP what equipment needs to be included in this churn.
Thank you.
Subject: DASH Classification - "Proceed - See Other RAC Comments"

As we discussed yesterday, in our review of our DASH recommendation vs. actual performance we found 36 DASHes that have been approved since late 1999 that carry the recommendation "Proceed - See Other RAC Comments".
Typically the RAC Comments describe substantial issues that must be resolved if the transaction is to be successful.
Given RAC's increased visability and accountability for portfolio performance, perhaps a more forceful description than "See Other RAC Comments" would be desirable which could be  something like:   		"Issues - Sr. Management Approval Required"   Therefore, the four DASH categories would be as follows:
Subject: Business Rationale for Retention

As per our discussion, the first step was to identify the participants in the retention program.
The next step is to build the business case for why these employees are critical and irreplaceable to your business unit.
Please provided a brief rational for why these employees were selected.
Additionally, if there is a unique situation or circumstance that makes your area more vulnerable, please included in an overall business summary.
For example: if your unit has a limited number of people supporting a critical area necessary to maintaining or increasing the value of the estate or the liquidation of assets, include this in your business summary.
Demonstrate why it would be difficult to train someone else to perform a similar function.
You should also comment on why the employee was recommended for the Milestone Program.
As you know this information is time sensitive, so please try and get it to me as soon as possible.
I appreciate you taking time out of your busy schedule to meet with me on such short notice.
Please call me (5x3662) if you have any questions.
Regards,
Subject: Williams Cal 04 Reserve for EOL

Please note the following addition to the domestic credit reserve for September 2001:  CP:  Williams Energy Marketing & Trading Deal No: 773737.1 EOL No: 1852957 Deal Date:  9/13/2001 Deal Specifics:  EPMI to buy 50MW On-Peak Power from Cinergy for Calendar Year 2004.
Term:  1/1/2004 thru 12/31/2004 Volume:  50 MWs On-Peak Price:  $36.00 Delivery Point:  Cinergy Trader/Mid-Marketer:  Fletch Sturm Credit Reserve Amount:  $20,000 (twenty thousand US dollars)  RAC: transaction confirmed under Executed EEI dated 2/1/1997.
Please call w/any questions.
Kortney x30616
Subject: Airline exposure

Dave:  I read Gordon Bethune's comments is the Chronicle this morning and if he concerned about Continental's solvency, the other carriers must be even more at risk.
As Bill and I are traveling, could you help in asking for a recap of our Airline positions?
We probably should identify the universe of names.
Given the high operating leverage in this industry, coupled with lease leverage, it does not take much to go negative.
For United and American I would imagine access to CP and revolvers would be potentially problematic.
I will be Bill at about 6:45 before we leave, if this is already in process, I'll leave a voice mail.
Regards,
Subject: Airline Exposure

Reviewed all airlines in CAS; the following are our exposures as of COB 9/14/01:  Continental Airlines:  EES - $33,598 consisting mainly of one very small gas sale (40,510 mmbtu) extending through 8/02 and the related monthly receivable  AirTran:  ENA - ($7,346,638) consisting mainly of HO and WTI financial swaps extending through 2004 - fairly significant volumes  British Airways:  ENA and ECTRIC - ($7,882,260) consisiting of mainly WTI finanacial collars extending through 2003  Air Canada: ENA - ($2,703,433) consisting of mainly WTI financial swaps extending through Q1 2002  Jet Blue Airways: ENA ($40,682) consisting of financial WTI swaps extending through this year  I have created a tracking group in CAS so that we can run reports easily to quantify our exposure daily, if needed.
Additionally, all airlines have been added to the Credit Watch List as of this morning.
Please advise if you have further questions.
Tanya
Subject: Revised DASH

Ray,  We are working on revising the DASH template in order that it can be readily used for asset divestitures, contract terminations, and amendments to transactions.
The new DASH, the template of which should be completed early next week, would be prepared earlier in the process that was typically the case in the past, would contain a RAC recommendation, and would then be used as the approval document for the appropriate committee (Transaction Review or Bankruptcy Management) to recommend or approve a transaction.
This is consistent with past practice (although presumably only business unit, RAC, and legal sign-offs would occur prior to committee review) and with your memo of earlier today.
Your thoughts as to how the approval process should occur after a DASH is prepared would be appreciated.
Regards,
Subject: Williams Cal 04 Reserve for EOL

Please note the following additions to the domestic credit reserve for September 2001:  CP:  Williams Energy Marketing & Trading Deal No: 775595.1 EOL No: 1859565 Deal Date:  9/14/2001 Deal Specifics:  EPMI to buy 50MW Off-Peak Power from Cinergy for Calendar Year 2004.
Term:  1/1/2004 thru 12/31/2004 Volume:  50 MWs Off-Peak Price:  $22.25 Delivery Point:  Cinergy Trader/Mid-Marketer:  Fletch Sturm Credit Reserve Amount:  $23,000 (twenty-three thousand US dollars)  CP:  Williams Energy Marketing & Trading Deal No: 775263.1 EOL No: 1858493 Deal Date:  9/14/2001 Deal Specifics:  EPMI to buy 50MW Off-Peak Power from Entergy for Calendar Year 2004.
Term:  1/1/2004 thru 12/31/2004 Volume:  50 MWs Off-Peak Price:  $21.00 Delivery Point:  Entergy Trader/Mid-Marketer:  Mike Carson Credit Reserve Amount:  $23,000 (twenty-three thousand US dollars)  CP:  Williams Energy Marketing & Trading Deal No: 775260.1 EOL No: 1858473 Deal Date:  9/14/2001 Deal Specifics:  EPMI to buy 50MW Off-Peak Power from Entergy for Calendar Year 2004.
Term:  1/1/2004 thru 12/31/2004 Volume:  50 MWs Off-Peak Price:  $21.00 Delivery Point:  Entergy Trader/Mid-Marketer:  Mike Carson Credit Reserve Amount:  $23,000 (twenty-three thousand US dollars)  RAC: transaction confirmed under Executed EEI dated 2/1/1997.
Please call w/any questions.
Kortney x30616
Subject: Reserve Release & DPR

The $95MM profit in Power-Canada on Friday turned out to be release of reserves as well, so total reserve release was $803 MM (vs. the $700 we knew of in Frevert meeting).
$500 Gas $208 EES $ 95  Canada Power  5-day P/L $563, so $240 5-day 5-day loss w/o reserve release.
QTD P/L $775, so $28 QTD profit w/o reserve release.
The $500 Gas & $95 Power reserve releases leaves ~$750 MM in North America's Schedule C & D, although most of that is specific deal reserves.
Cassandra.
Subject: Daily Losses for ENA and EES

Due to the release of schedule C for ENA and EES, the attached spreadsheet provides the trading p&l without prudency and the associated Daily Loss Limit notifications.
Additionally, the spreadsheet reflects the net effect on the Total Trading line.
If the Corp. Var remains at $100mm, then a Daily Loss Limit notification would be sent out.
However, the current opinion is that the Corp. Var is $150mm, including discretionary Var, which eliminates the notification.
Please let me know if you have any quetions.
Thanks,
Subject: Enron Wholesale Services - Investment Watch Report

Attached for your information is the latest version of the Watch Report that RAC maintains for EWS.
The format has been revised to a more streamlined two page report.
If you have questions or comments, please call me at ext.
3-3905.
Regards,   Rick C.
Subject: Credit Exposure-Enron Credit

Rick/Mark: As discussed with you yesterday, the Enron Credit book has exposure to industries which have been negatively impacted by the events of last week.
Credit spreads have widened out in most sectors that demonstrate liquidity and remain unchanged in markets that have yet to find liquidity.
The Enron Credit book is net long protection/short risk which should be beneficial to P/L in the short-term, but there is significant default risk remaining in the book.
The exposures quoted below are gross notional exposures.
There will likely be significant recovery in the event of a default.
The primary risk is in the following sectors:  Airlines AMR Corp/Del	- Short $10MM protection Boeing Co. - Long $20MM protection British Airways Plc - Short $3MM protection Delta Airlines - Short $30MM protection Deutsche Lufthansa AG - Long $17MM protection Quantas Airways Ltd - Short $10MM protection Southwest Airlines - Net flat  The positions that we are concerned about are Delta and AMR.
Continental has announced that it may miss an interest payment early next week.
Insurance/Reinsurance Axa - Short $10MM protection; short $5mm bonds; net short $5mm protection Conseco Inc. - Short $5MM protection; short $4mm bonds; net short $1mm protection  Additionally, we have mark-to-market counterparty credit exposure of $5.7mm to CNA, $5.8mm to Ace, 10.7mm to FSL,$3.6mm to MBIA, $10 mm to Mitsui.
Reserves have been taken for all counterparty exposure.
The biggest concern here is CNA.
Lodging/Leisure Carnival Corp. - short $20MM protection Hilton Hotels Corp. - Short $25MM protection  Many of the short positions are in the insurance portfolios where we have purchased  2nd loss protection  and retain the 1st loss.
Please let me know if you need additional information.
Ted
Subject: Brotherhood of Banker Trust is Alive

Jim Reilly said he had spoken to you recently after he saw me holding a sign under an I10 overpass.
Would love to get together with you to catch up and figure out what's going on at Enron and elsewhere.
I have attached my resume'.
We've all come along way since the BT days.
I'll call you in the near future to see when we can get together.
<<Resume081401.doc>>
Subject: File Transfer Authorization

Attached in Wordperfect format and pasted below is a letter authorizing the transfer of the files for your case from our old firm to our new firm.
We would appreciate it if you would print the letter (or the text below), sign and print your name, and fax it to me at (713) 654-7690.
If you have any questions, please do not hesitate to give me a call.
Thanks,
Subject: Revised EIM Meeting Notes (inclusive of notes from 9/17 & 9/18  meetings)

Challenge  Appetite for credit capacity is much greater than what is justifiable given credit quality of industry and liquidity of transactions.
General Themes  Dearth of liquidity in market (bearing in mind that EIM's purpose is to stimulate liquidity) Poor credit quality Highly structured nature of steel transactions (inventory management, illiquid options, etc.)
M-T-M Accounting and incentives related to achieving earnings targets Size, tenor and rating drive credit exposure; size and tenor drive transaction value -- therefore ratings drive credit limits.
Subject: Transactional Finance

Rick/Bill The steel team (Bruce Garner et al) here is considering a credit insurance product to support their sales into uk market.
Paul Maley, who is from the insurance world, has been part of the discussions and believes that there is a viable product for a portion of the business.
Not a fix for long-dated mark-to-market exposure out of Russia, but probably could release some credit capacity for sales to weak industry names on a delivered/unpaid basis into first world legal environments.
A bit pricey but may be less expensive on a per $ basis if lots of transactions.
He has been in touch with David Marshall in Global Risk Managment (Houston Insurance guy).
I suggested that Paul and I get together with you guys to go through in some detail.
This is encouraging that people are working on such things, but it would be great if we set the pace and organized the process.
Speak to you tomorrow or Thurs.
Ted
Subject: HYC stuff

Carter Perrin is back from Italy & will be sailing in the V-15 races on  Friday night.
He has promised 10,000 Lira to any HYC'ers who can beat him on  the racecourse.
There also will be a DJ, Cash Bar & Buffet afterwards so  bring down your friends.
We are trying to beat the record of 22 boats set  earlier this summer.
We will be going to Taco Milagro (Westheimer & Kirby) on Thursday night from  7-9 PM.
We are attending the USA vs. South Africa Rugby game at Robinson Stadium (UH)  on Dec. 1 @ 2 PM.
HYC Tailgate party & BBQ before the game.
Purchase your  tickets online at:  www.usa-eagles.org/tickets/index.html  DAMIEN GODDARD
Subject: Update  from the Wizard

Project OZ   The deal team is proceeding post-haste to draft a definitive term sheet.
Bjorn - you're correct - term is now 8 years likely to be 10   $40 million working capital facility - advance rate will exceed market - i.e.
a portion of this is really equity   crack spreads - will be widened (still fine tuning)   Minimum investment case  - Morgan Stanley bridge, refinery cash flow to supply capex for Tier 2 upgrades, current volumes   After closing, to continue investigating expansion (max capex case) with [option] to hedge larger volumes ( ?- what if we don't agree with expansion plans)   RAC draft DASH with deal team's comments expected back this afternoon - will circulate   promised model by EOD tomorrow     anticipate that deal team will try to get approval delegation at the next BOD meeting (about ten days to get thru RAC process)
Subject: 2002 Group Plan Meeting Schedule

Attached you will find the 2002 Group Plan Meeting Schedule.
Please mark your calendars.
If you have any questions, please contact me at X58113.
Thanks.
Subject: Clarification

Rick,      A slight clarification on the RoCaR as it pertains to Market/Credit side:  The analysis is performed only on DASHed deals, so nearly all of deals going through Market/Credit would end up in Underwriting too, for which Mark Walker is the RoCaR contact.
This analysis is currently not done on traded deals which are not DASHed.
Naveen
Subject: Recommendations from 9/18 Meeting on Transaction Expense Controls /  Delegations of Authority

Below please find a summary of recommendations from a meeting held Tuesday 9/17 between Chip Schneider, Joe Deffner and Wes Colwell.
It is contemplated that these or similar recommendations will be implemented to control capital and other expenditures related to transaction development within the Americas:  Regional Managers within the Americas (East, West, Canada, Mexico, South America) shall be generally accountable for capital expenditures and other expenses associated with transaction development in their respective regions.
The Regional Manager shall designate one Transaction Leader (Director level or higher) for each individual transaction under consideration and shall be accountable to the Regional Manager.
The Transaction Leader or Regional Manager shall be the only parties authorized to obligate Enron or its affiliates under any contract or to transfer money.
Legal shall provide copies of all draft documents to Accounting, Global Finance and Underwriting.
The Deal Leader shall be responsible for drafting initial DASH, seeking buy-in from management and establishing a time-table for expenditure approval.
The initial draft of the DASH and economic model shall be provided to Underwriting at least ten business days prior to any movement of money (more time may be necessary if financing or ENE BoD approval is required).
Legal shall provide a final Legal Risk Memorandum to Underwriting prior to circulation of DASH.
Global Finance shall provide a final FASH to Underwriting prior to circulation of DASH.
Underwriting shall be responsible for DASH circulation.
Underwriting shall promptly provide Accounting with fully executed DASH to set approved budget limits.
Accounting shall keep records of all expenditures, maintain responsibility for approved budget compliance and sign-off on all contracts and money transfers prior to execution.
Let me know what further thoughts you have.
Regards,
Subject: Update:  Recommendations from 9/18 Meeting on Transaction Expense  Controls / Delegations of Authority

Below please find a summary of recommendations from a meeting held Tuesday between Chip Schneider, Joe Deffner and Wes Colwell.
It is contemplated that these or similar recommendations will be implemented to control capital and other expenditures related to transaction development within the Americas:  Regional Managers within the Americas (East, West, Canada, Mexico, South America) shall be generally accountable for capital expenditures and other expenses associated with transaction development in their respective regions.
The Regional Manager shall designate one Transaction Leader (Director level or higher) for each individual transaction under consideration and shall be accountable to the Regional Manager.
The Transaction Leader or Regional Manager shall be the only parties authorized to obligate Enron or its affiliates under any contract or to transfer money.
Legal shall provide copies of all draft documents to Accounting, Global Finance and Underwriting.
The Deal Leader shall be responsible for drafting initial DASH, seeking buy-in from management and establishing a time-table for expenditure approval.
The initial draft of the DASH and economic model shall be provided to Underwriting at least ten business days prior to any movement of money (more time may be necessary if financing or ENE BoD approval is required).
Legal shall provide a final Legal Risk Memorandum to Underwriting prior to circulation of DASH.
Global Finance shall provide a final FASH to Underwriting prior to circulation of DASH.
Underwriting shall be responsible for DASH circulation.
Underwriting shall promptly provide Accounting with fully executed DASH to set approved budget limits.
Accounting shall keep records of all expenditures, maintain responsibility for approved budget compliance and sign-off on all contracts and money transfers prior to execution.
Let me know what further thoughts you have.
Regards,
Subject: Requested Information

Hello Rick,  I work with Sheila Walton and she asked me to prepare this information for your performance reviews.
I have attached the information below.
Please let me know if you have additional questions.
Thank you,
Subject: Enron Europe Risk feed Status Rpt as at 14 Sept 01

Please find attached latest update on the Enron Europe risk feed status report.
The report consists of commentary from London Risk Management, RAC & IT Development to reflect the consolidated undertaking currently in progress.
Regards