Subject: "Lunch For Rod Nelson".

Body: Group: Mark has okay'ed having a going away lunch for Rod. Looks like the week of June 26th works best for Rod. Please e-mail Suzanne Adams by Monday of next week any days that week that do not work for you so we can pick a date. Thanks.

Subject: "ENA v. Miller".

Body: Dear Michelle: I just finished my conference call with Liz Miller (counsel for Calpine), Christina Solomon, and Steve Schuler (Steve is co-counsel for Miller with Christina). Christina had passed along to Liz the various points I made at the meeting last week, so Liz was prepared to address our primary concerns. She made the following points: (1) She has talked with several different people at various levels of authority in Calpine's trading area, and insists that Calpine treats the power grids as "completely different" regions, strategies for which are not shared internally among those regions. (2) She asserts that "how we do it at Calpine is totally different from Enron," since Calpine is "trading around a portfolio of assets that we own." She asserted that Enron, not owning power generation assets, trades differently. When I replied that Enron does have power generation assets, she acknowledged the fact but insisted that Enron's trading style is vastly different due to the difference in emphasis vis a vis the power generation assets. (3) Liz claims that Miller works almost exclusively in "Urcot" (sp??) in Texas, with some participation in Entergy in Louisiana. According to Liz, Calpine's strategies concerning these specific regions is divorced from and not related in any way with any trading Calpine does in the East or West. (4) Liz is of the opinion that Miller "is not senior enough that we would be looking for what he knows." He has no role whatsoever in discussing or formulating strategy for trading. Miller, she insists, is on the receiving end only. He takes orders, dispatching and scheduling solely in response to orders he receives from others. (5) Liz acknowledges that, were Miller in a more senior, responsible position, she would have the same concerns we are expressing were the tables turned. Miller is "so slotted," however, that she believes that he is not in a position to use any Enron trade secret that he might possess (though she and Miller's attorneys expressed doubt that he could retain any critical information, that the most critical information changes on a day-to-day basis). We ended the conversation with the following understandings: (1) Liz will explore whether Calpine could put Miller in a non-trading function for a period of two months or so.

Subject: "New Email address for us".

Body: Please use the following address to contact us. Cathy: cathywolfe@ezeeweb.com and Larry: larrywolfe@ezeeweb.com Please change your addressbooks, we'd hate to miss an email from you. Larry & Cathy

Subject: "POSREP".

Body:
POSREP HOEGH GALLEON, DATE: A) Position at noon : N 18,0? E 040,2? B) Dist. from last noon : 459 nm C) Dist. to go to next port: 1642 nm D) Eta next port : 13 0900 LT E) 1:Average sea/weather : Wind: NW 4 Sea: NW3 2:Average speed :19.13 knots / average RPM 92.31 3:B.O.G. consumed :nil B.O.G. Total : 4:F.O. consumed : 162 5:G.O. consumed : nil Brgds Knut Bentzr?d Master E-mail: master.gall@hoegh.no Teleph: Inmarsat tel.no.+874 330853910 Fax : Inmarsat fax no.+874 330853913 Telex : Inmarsat B telex no.+584 330853915 Telex : Inmarsat C telex no.+584 430853910 (24hrs.watch)