IN: This is an email
Jim, I can assure you that neither John or myself are trying to attract blame or "cover our backsides"; however, I do believe that there is/was a genuine breakdown in communication somewhere in the deal team, accounting and the desk. As well, it appears that this is not completely a black and white issue and can legitimately attract a number of points of view. As executives of this company, you, Brian, Tim and Tom absolutely were responsible to ensure that all aspects of this transaction are managed correctly. Nevertheless, I think it is amazing we have not had more problems with this divestment given the size, complexity, time and how intertwined it is into the overall framework of ENA. I appreciate your candor and the unselfish maturity to bring to the trading floor. I look forward to working with you as we continue to build our Texas and gas business. Regards

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OUT: Bammel Storage Cushion Gas Issue.

IN: This is an email
Sara, Believe it or not, we are very close getting our signed ISDA from the City of Glendale. Steve Lins, the City attorney had a couple of questions which I will attempt to relay without having a copy of the documents. 1) I am assuming that he obtained a for legal opinion letter or document of some sort. This document references a confirmation and we are not sure what this references. Typically, it references a transaction, which in this case, there are no transactions yet. He feels this reference should be deleted. What is your opinion regarding this? 2) We sent him a couple of form documents to facilitate the documents required under the ISDA. One form ws a form resolution. They have already received City Council approval to enter into financial tranactions and to enter into an ISDA with us. Steve is going to get a certified copy of this Resolution. Will this suffice? When you return, I may try to do one last conference call to alleviate any unanswered questions. I think we will have an executed ISDA with the City of Glendale by the end of next week. I am going to be out there meeting with them on Wednesday. Thanks for your help,

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OUT: City of Glendale

IN: This is an email
Dear John - The attached worksheet has my perspective on how the tolls should be escalated. I still think this is a conservative view, since I feel that we would be able to go to these pipes and negotiate a fixed toll for the remainder of the term, or even negotiate out of these contracts for a fee. (I'd love to take a crack at that!) TCPL is still a wild card, and I did not change the escalations that were shown. More will not be known with them until they get through their new rate design process, which will probably be another year (since they haven't even filed anything yet). Call if you have any questions.. Julie :-) 35591

What is the subject?

OUT:
Sithe Demand Charge Escalations