IN: In Julia's absence from the office, I need you to prepare an Enron Industrial Monthly Legal Report for October and submit it to me as soon as possible. Attached is the ENW Monthly Legal Report to use as a guide. The report should be concise, in bullet format, and submitted via e-mail to me by the 15th of each month.

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OUT: Enron Industrial Monthly Legal Report

IN: Kam, From the original list that you provided, I added all of the users that had access to EOL. Please review the list below and let me know if there are any changes. East Desk Scott Palmer (spalmer) James Hungerford (jhungerf) Bruce Mills (bmills) Ashley Worthing (aworthin) Edward Brady (ebrady) Monte Jones (mjones7) Central Desk Darron Giron (dgiron) Kulvinder Fowler (kfowler) Luchas Johnson (ljohnso5) Anna Kulic (skulic) West Desk Phillip Love (plove)

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OUT: Updated backoffice users - ubswenergy

IN: Ken, I have taken a look at the material you had sent me on the ARC Northern Gas Pipeline Route. Ultimately, I believe that ARC is looking for certain strategic investors to provide founding capital to fund the development of this proposal. To the extent that this is a open access non-discriminatory pipe, ENA's opportunity lies in being a shipper to capitalize on basis markets or customer transactions that provide attractive risk reward characteristics. Other than understanding the potential flows and costs, there is probably not much we need to do today given a 2006 start from an ENA point of view. The ARC consortium needs to fund approximately $30M to develop this project. The US and Canadian aboriginal groups will receive 33% ownership for $10M. the remaining $20M and 67% will be funded by a group of producers, pipelines, venture capital and the "organizing group" (40%!!). Stan Horton, if he believes this is a commercial possibility, may want to provide a few million of founding capital to the venture in order to preserve him the option to participate as an equity holder or operator if this becomes a reality. Regards

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OUT: ARC

IN: Joanie! I have been soooo busy lately and I'm starting to feel like I sold my soul to the Enron devil. In fact, I have no time to be writing this e-mail right now, but I've been meaning to drop a line and catch up with you. I also just ran into Brigdet (from the class below us at SMA) at lunch - apparently she's married to some baseball player. Crazy! So right away I had to contact my ever-realistic "single" friend to bring me some sanity. I'm actually dating a guy right now, but it still gives me the chills to hear about anyone near my age walking down the toilet...I mean aisle. Anyway, call me, or I'll call you tonight - let's dish! I hope everything's great with you - I expect nothing less. I have lots of interesting stories to tell about how and why I've come to the decision that I'm sending my roommates to rehab. Love,

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OUT:
Work, work, work.....