IN: This is an email
Today, Javier and I discussed the next supply cargo for ProCaribe. I am in agreement with his idea of supplying Progasco for the next six months. Also spoke with Suzanne and the bigger the cargo size the best chances of a better price. Javier and I are in agreement on a cargo size from 8,000 - 10,000 Mts with the delivery window between May 15th - May 30th. This means that we will have to return to EcoEl?ctrica between 3,000 - 4,000 Mts of borrowed propane depending on the arrival of the ship. I will travel to Houston on Monday. That same day I will meet Suzanne and she will update me on this cargo. On Tuesday, after my conference, we can also meet as well as Wednesday afternoon. Javier knows I will be in Houston. I don't foresee any problems in getting our thoughts together in ordering this cargo. Saludos

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OUT: Next Supply Cargo
QUESTION: John, The new products have been built and are in the process of being mapped to Sitara and Tagg. I'm working with Melba Lozano (EOL contact) and she tells me they should be ready tomorrow. Mark Taylor and I haven't spoken yet about simplifying the language in the product long description, so I'll try to get with him tomorrow. For now, we're staying with the existing language which isn't really that bad. Any of these products which are intra-month will stay in the swap filter as US GAS DAILY products, but longer than intra-month will be in the basis filter as US GAS BASIS products with the format: US GAS BASIS GD/D SoCal - HHub The only product that will be different is the Nymex to daily swap which will be: US GAS BASIS NXL1 - GD/D HHub Any questions or comments, Fletch x3-6219
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ANS: New product update
Hi Sheila, I'm happy to take care of this, I just want to make sure I'm not stepping on anyone's toes. Is anyone else working on this? Kay
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answer: ENRON LETTER OF CREDIT REQUEST
I've received a copy of the powerpoint presentation Hertzberg made to the his caucus. Unfortunately, it's a fax and hardly legible. I can make out, however, that it is the core/noncore plan. I'm attempting to get a better copy and will distribute as soon as I get my hands on it. Please keep confidential that we have a copy. Thanks. Best,
Answer: Hertzberg's Plan
Here is an email: Gentlemen - Following the Dabhol dictate that "bad news is good news," Dabhol is getting some good news this week. As reported in the press, DPC did receive a two-page letter from MSEB purporting to rescind the PPA with immediate effect because DPC materially misrepresented the capabilities of the power plant (i.e., 6 hour actual ramp-up time vs. 3 hour ramp-up schedule in the PPA). However, the letter goes on to state that MSEB is "agreeable to continue the present arrangement of power and payment until disputes are resolved by the appropriate forum." We are not entirely sure what this last part means and are asking MSEB for clarification. Obviously, this letter is quite a buttress to our already-delivered PTN contending that MSEB has evidenced an intention not to be bound by the PPA. While MSEB's letter seems to state that they will still honor some aspects of the PPA, the letter adds that "payments would be subject to adjustments on the basis of determination of reasonable compensation and quantum meruit by a competent authority." We hear rumors that MSEB will approach the Maharasthra Energy Regulatory Commission (MERC) for a "how much should we pay DPC" determination. If they do so and MERC accepts jurisdiction, this would help our expropriation, political force majeure and default arguments. DPC seems to have managed to avoid a construction contractor termination in May by agreeing to extend the required completion date for Block B by 9 days. While this action does not have long-term benefits to the project, I believe that it was a considerable sign of good faith that DPC is trying to give the lenders some time to assess whether they want to begin curing project agreement defaults on an ongoing basis. Bruce
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A: Dabhol -- A Brief Legal Update
QUESTION: Thought I'd mix it up a little and send you a completely unrelated document yesterday....what fun! Anyway, sorry for the mix-up - I was on autopilot. Here's the updated EES spreadsheet through Sunday, Feb. 18. Call with questions. Thanks,
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ANS:
Daily EES Sales 2/16-2/18