In reviewing the contracts, so far I have the following questions: 1. Have Oman LNG and ADgas taken the risk of non-performance by DPC and indirectly MSEB without any credit support? The only security is the equity in DPC? Are such contracts typically secured or done with a buyer with deep pockets? How much value was put into DPC by the shareholders? 2. Are there local public policy issues that could be addressed by local courts with respect to the LNG contracts? Fraud? Bribery? Are there any local law issues with respect to performance or interpretation of the contracts? Isn't take-or-pay meaningless without credit support? 3. What are the arguments for DPC to terminate the contracts? Only where the PPA is terminated? Payments? 4. Who negotiated the contracts? Were there requests for credit support? From Enron? Did Enron ever promise to indirectly "backstop" the contracts by its investment in Dabhol? 5. What was the discussion regarding the "reduction in operational capability" language in the contracts? What was the language meant to cover? Do we need our counterparty's approval to investigate other markets? 6. Is there any argument that DPC has already breached the contracts? Could our counterparties issue a press release claiming damages over the entire term of the contract? Confidentiality and press releases? 7. What is the law on piercing the corporate veil for an Indian company like DPC? Could this issue be considered separate from the contract and be litigated in India or Oman and thus outside the arbitration? 8. What is the list of all documents that could impact on whether or not Enron has any exposure under the LNG contracts? 9. Are there instances where the Dabhol project could fail and the LNG contracts would not novate to MSEB? Why does it matter if the LNG contract obligations novate to MSEB if DPC has no money? 10. Other potential claims against Enron if the LNG contracts are terminated or not performed?
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answer: LNG Contract Questions
Rick: Just want to let you know that I missed the boat a bit in coordinating my reviewers with Paul. In my first attempt to input them in the system, I hesitated including you for the simple reason that I'm certain you have countless other reviews to do already, and, frankly, I feel that you're an integral part of my review whether you're formally on the list or not. When I went back to make my final additions to the list, the systerm was already closed--Paul had approved the first round, which I guess shuts it down.
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answer: Reviews
Hey guys, Here is the activity sheet for November. All activity is for the Balancing Agreement only!!!!! I am planning to inject approximately 15,000 MMBtu per day for the rest of the month and that should put me in a pretty good position. Please respond when you have a minute. Thanks
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answer: November, 2000 Activity Sheet for Interruptible Balancing Agreement
I think the wedding is on for the 23rd. My mom wants us to stay at a hotel while in DC. I think Bob would likely want us to stay in DC for Christmas Day since Chi will be on honeymoon, but I am not real sure on this. Bob is out in OK over New Year's and I will need to go back up the following weekend to stay with Mom while Bob is out. What do you think. PS My mom is chain smoking - she bought a cartoon of cigarettes with Chi. Chi thinks we should just let her make her own choices. What do you think.
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answer:
holidays