As you know, current firm contracts on Transwestern provide for delivery of 250 MMcf/d of gas to Topock. In the context of the Gallup Expansion, Transwestern has entered into firm contracts for an additional 40 MMcf/d to Topock. Once the Gallup expansion is built, Transwestern will have a total of 290 MMcf/d of firm capacity under contract to the Topock delivery point: 40 MMcf/d more than PG&E has agreed to accept while PCBs continue to be present. Bill Cordes has asked what Transwestern's potential liability to shippers would be if PG&E's refusal to accept deliveries due to the continued presence of contaminants causes Transwestern to have to curtail firm service at PG&E/Topock. The legal answer is that Transwestern's tariff provides for a reservation charge refund but does not limit the damages that could be sought by a shipper. More specifically, Rate Schedule FTS-1 specifically provides for a reservation charge refund if Transwestern fails to deliver gas for a firm shipper. In December, January, February, July and August, the shipper is entitled to a reservation charge refund for all nominated and confirmed quantities not delivered. In all other months, the shipper is entitled to a refund only if deliveries fall below 75% of nominated/confirmed quantities for a period of 75 consecutive days. The tariff does not preclude a shipper from seeking other damages resulting from Transwestern's failure to provide service under an FTS-1 contract. A shipper whose firm service is curtailed would likely incur damages in addition to the reservation charge, including, for example, the cost of buying spot gas or damages resulting from the shipper's inability to fulfill contractual obligations. Such damages could be recovered in a breach of contract action. Not all shippers would incur such damages because some might be willing to take delivery of gas at alternate points if capacity is available at such points. Bill has asked Steve to work with me in quantifying our potential exposure. I could really use your help in putting a dollar amount on potential damages. Can we meet briefly to discuss this? I'm available after the Gallup meeting tomorrow a.m., or after lunch on Friday...or we can discuss a meeting time for next week. Thank you.
Answer: Confidential: PG&E/Topock issue
Here is an email: Jay: I am a lawyer with Enron. I called for you on Friday, you're out, and no one else could help. I would like to speak with a Vitol lawyer about (1) replacing our existing financial master with an ISDA (to accommodate a broader range of products) and (2) specifically incorporating the relevant ISDA definitions into the recent weather transaction confirmations even though the master is an early master energy price swap agreement. Please call me at 713 853-5620 with the information so that we can move quickly. Thank you for your help. Sara
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A: Master Agreement (financial) between Enron North America Corp. ("Enron") and Vitol S.A.
Q: Just a quick note to all that these employees are finally getting somewhere and getting the much needed forms and information they need. Thanks to all who helped! Sabra Dinari
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A: Benefits for Terminated Employees
IN: The total mark to market value for US Gas EOL deals as of 08/31/2000 was: $332,200,027 Physical deals totalled $(5,441,280). Financial deals totalled $337,641,307. Let me know if you have any questions. Thanks,

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OUT: US Gas EOL Market Value
IN: This is an email
[Joannie: Thanks for bringing this to JS' attention ...] Jeff: {In this headwind funding environment, I am looking for some quick decisions for our small, world-class computational trading group ... we are open to an acquisition / controlling interest, etc. I have had some conversations with Brandon Wax ... in my prior life, I have had some interactions with Gerald Chan, brother of one of your board members. We are also talking to eSpeed, some Chicago Exchanges in a similar vein ...} Our group of 15 (Carnegie Mellon technologists + trading / capital markets experts) located in Pittsburgh brings - strong e-market thought leadership (global trading outlook) - patent-pending technology that can help compare / trade "almost" standardized goods and services - this is a missing link in today's e-markets! - robust sales pipeline and small revenue (seven-figures) - low-cost, central hub location (with great access to Carnegie Mellon Professors / Research / Students) - experienced entrepreneurs / technologists who are happy to be "intrapreneurs" in this environment. We could make a positive impact on EnronCredit, BroadBand Services as well as your core energy business. I am enclosing a couple of attachments to give you an idea of who we are ... I can provide more info. if there is interest. Can we chat for a few minutes ASAP - I believe you will find this opportunity to be compelling that can make your "market making" empire more analytical, computational and above all, more profitable! Thanks & cheers

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OUT: P'burgh computational software co. with CMU connections
Vince: I've been on the road for a week and will be in southeast Asia and Australia for the following week. I did, however, get a message from Mark Palmer saying that he thought I should present our stuff on current operations value/future growth value directly to Andy Fastow. I agree this makes sense. Nevertheless, I think the idea would have greater credibility if you, in addition to Mark, were to express an interest in the framework to Andy. Would you be comfortable doing this? I'd just like you to send Andy a message saying that you think the COV/FGV framework is logical and that investors would find it logical as well. If you can do this, Melissa Jose would then give Andy's office a call and try to set up a convenient time for a presentation. Of course, I would be very happy if you could attend that as well. That would also give the two of us an opportunity to explore that article we have been meaning to write! Best Regards,
Answer:
Mark Palmer re Andy Fastow