Subject: "Agency Agreement".

Body: Per Barry's request, attached is the Agency and Management Services Agreement to be executed between Enron North America Corp. and Mexicana De Cobre. Also attached is the form of agency agreement to be attached as Exhibit B to the Agency and Management Services Agreement. This agency agreement is El Paso's form and must be executed by ENA, Mexicana, and El Paso. The El Paso form requires that you open as a read only file. Please review. We are working on the gas purchase agreement and should forward shortly. We received the power of attorney and bylaws you emailed. I had a Spanish speaking attorney in our office assist me with their review. The bylaws look fine. We would like you to follow up with a certified copy in the mail. For now can you confirm via a response to this email, that these are the latest bylaws on file? He noted that under the Power of Attorney, it would be required that two of the gentlemen listed on page 2 of the power of attorney documentation, execute our agreements. Can you confirm? Would be happy to discuss this with you. Thank you for your cooperation.

Subject: "RTOs and Emerging Pool Markets--North American Overview".

Body: At Jim Steffes request, I have assembled a matrix of the status of current emerging RTOs/standard markets in North America. Sarah, could you look at the "next steps" and let me know if I missed anything major? Also, does any body know if EPSA or some other organization is maintaining a similar overview database. (FERC's site is out of date). I will keep the latest version of this on the 0:\public affairs\RTO information database directory. Alan

Subject: "GD Tiered deals".

Body: FYI, Please book all future GD priced tiered deals as two deals in sitara. The reason for this is eventhough we put a swap on the deal for the volume that should be at index, the swap looks at the volume as a monthly volume as opposed to a daily and gives the monthly volume to the desk at mid. What typically happens is the total volume for the first half of the month comes to the desk entirely at mid. This is causing some substantial OA variances. If you have any questions, please let me know. Thanks.

Subject: "Settlement Template".

Body:
Ike, with the danger of being too presumptious, I thought I would follow up with an e-mail to suggest a procedure for trading settlement offers on Wednesday. Attached I have a suggested template for each party to use so that we can ensure that we are comparing "apples to apples". I would also suggest that each party provide sufficient back-up to justify their numbers. It may also be helpful for TVA and EPMI to use an independent party, such as Charles Bone, as the intermediary to facilitate the transfer of each parties settlement offer. I am in the office over the next several days. Lets discuss at your earliest convenience. Regards