IN: A very successful energy trader parked his brand-new Mercedes in front of his office, ready to show it off to his colleagues. As he got out, a truck passed too close and completely tore off the door on the driver's side. The trader immediately grabbed his cell phone, dialed 911, and within minutes a policeman pulled up. Before the officer had a chance to ask any questions, the energy trading icon started screaming hysterically. His Mercedes, which he had just picked up the day before, was now completely ruined and would never be the same, no matter what the body shop did to it. When he finally wound down from his ranting and raving, the officer shook his head in disgust and disbelief. "I can't believe how materialistic you energy traders are," he said. "You are so focused on your possessions that you don't notice anything else." "How can you say such a thing?" asked the trader. The cop replied, "Don't you know that your left arm is missing from the elbow down? It must have been torn off when the truck hit you." "My God!" screamed the master trader. "Where's my Rolex?"

Generate a subject line.

OUT: trader joke

IN: Here's the latest version. It looks ok to me. The most substantive aspect of it is that Calumet Power (or its affiliate) could end up the indemnity obligations under the agreement. (in other words, an entity without a lot of money to fund indemnity obligations) In my opinion this isn't important in the context of the option. Unless someone objects, I'll tell PERC that Enron is ready to go with the assignment. Kay

Generate a subject line.

OUT: Option Agreement

IN: FYI, Please take note of the date change. The next Outage Coordination Commercial Review meeting is 09/13/01. The purpose for the meeting is to discuss outages that have a flow impact with the Commercial groups. I will send out an outage report prior to the meeting. If you have any questions or concerns, please give me a call.

Generate a subject line.

OUT: Outage Coordination Commercial Review (Date Change)

IN: Gerald, There are a number of things that have come up on which I hope to get your assistance, concerning both Dow wells 13 and 14 and the land sale to Texas Brine. Starting with Dow, I have written a (very rough!) draft reply to Gary Chapman's letter of October 2 regarding a new amendment to the Brine Services Agreement. We still would like them to buy the pad gas, but, given the equipment purchases needed if we do have to remove the pad gas, we have to have a concrete deadline for whether they will buy the gas (Dec. 14). Even so, in talking to Dave Owen it seems to me that the equipment may not be installed for rebrining by the time we exit the wells. How do we handle that type of delay contractually? Dave Owen has told Dow that we are not interested in allowing the fresh water option that Dow suggested in their letter, so I did not even address it here. I think they understand that we want no part of that. Perhaps we can discuss these and other issues after you've read the draft. As for the Texas Brine land sale, Jean has asked me to draw up a timeline to close. I have spoken to the Texas Brine folks, and unless something goes really wrong with their environmental analysis, we all expect this to close by the end of November. The timeline reflects this, but I would like you to take a quick look and see if I am missing anything, as there really are not that many steps. TB has not gotten back to us on the draft sale document, but I'm hoping to get it soon. There has been a bit of delay as they have requested access to any environmental assessments we have done on the land. All the channels I have pursued tell me there has never been anything done by Enron (per Kyle Purvis). If you know anything about this, please let me know! Do you have a draft of the easement agreement (?) for the March land sale? I don't have alot of details about location etc, but I think I could find them out if necessary. Perhaps while we are waiting for a reply on the sale doc we can hammer out the language for the easements on that and on the new land sale. I think that's it for now, have a great weekend and please let me know if you have time to talk early next week. Thanks! Eva

Generate a subject line.

OUT:
Napoleonville Items