IN: Attached is a mini dash that summarizes the proposed deal to grant a license for POPS to AEP. Please review and let me know of any issues, questions or concerns. Yesterday evening AEP sent some last minute changes to the license agreement primarily dealing with arbitration. I will be meeting with Barbara Gray and my counterpart from AEP, Dave Banks, tomorrow to nail down this agreement. I'd like to get signatures on Friday so that we can move forward with getting our first payment and then start the process of delivering the application. On a related note there have been some issues between AEP and Enron on the commercial side of the business. Louise Kitchen and Eric Vanderwalde are involved in working through those issues. Brian Redmond has asked that we call him before executing this agreement.

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OUT: POPS Mini Dash and License Agreement Status
IN: This is an email
Jason: Regarding the above party, ENA submitted arbitration and the response was to submit to the exclusive jurisdiction of NY courts and waive jury trial. You have this highlighted in yellow and flagged the jury trial waiver. Can you recall if you spoke with Richard about this issue?

What is the subject?

OUT: Moore Global Investments, Ltds
QUESTION: We definitely have enough people for a party. I haven't heard back from some people yet, I'll keep trying. I hope to have some responses when I get home from work tonight. Atached is of list of the status so far: What do you think?
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ANS: Church Gourmet Dinner
Susan, It is my understanding that Enron will not be receiving gas on Destin pipeline in the month of December. Therefore we have made arrangements to sale the gas to another party. If I have misunderstood the situation, please advise. Stevens
Q: What is a potential subject line for this email?
answer: Bazor Ridge Gas Plant
We have reviewed the assignments Jean sent out earlier in the week. At this time I think the split is OK. I would like for you to put in writing for me the following: Who is your back up on critical reports, etc when you are out. I would like for that back up to be someone that was NOT on your original team. This may help us address the issue of the two "old" teams merging. For example I am assuming if one rep has the shipper business and another rep has the operator business for the same company, then those two reps should back each other's desk. Randy Janzen is backing up Jean Adams desk on Lamar Power Plant since he has AEP which is shipper that does business at the Lamar Plant. Scott and Kathy support each other's desk since Kathy has ElPaso as a Shipper and Scott has ElPaso as Operator. Harry and Joe support each other on Oneok since Harry has Bushton and Joe has the gathering The areas of concern in relation to day to day business are below and need specific back up reps. GPM Monthly Pricing Report Lamar Power Plant True Ups PVR Report Oneok Gathering Reporting NNG Administrative Contracts SPS Power Plant True Up Conoco Power Plant True Up MOPS Daily Report The HIgh profile shippers/Operators that need specific back ups are as follows: Duke/GPM Oneok Transcanada Dynegy Reliant ElPaso West Texas Gas If there is any confusion with the email, please do not hesitate to call Terry or myself. Thanks. Lynn
Answer: Team Shipper/Operator Assignments
Q: In order to ensure that our communications with the investment community are consistent, Stephen Moore of Moody's and I have agreed to publicly state the following as it pertains to the Moody's rating action taken today: Full Review To Occur - The action is intended to be the catalyst for a full review of our business operations to occur in the coming months. The company's appropriate rating will be determined during this time frame; Primary Areas of Concern - Moody's will be focusing on the following items during the review: Potential Future Equity Write downs: Dhabol California Broadband Fiber Network Wessex/Azurix Slow Progress in Asset Sales - we have been discussing sales for the past 18 months with limited closings Material Working Capital/Margin Expansion - has resulting in negative cash flow from operations The Equity Adjustment - Moody's was unaware of the potential of an equity adjustment of this magnitude Please let me know if you would like to discuss any of the points in detail. Regards:
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A:
Moody's Basis for Placing Enron Securities on "Review for Downgrade"