QUESTION: Though many of you already know, today is my last day here at Enron. I am leaving to pursue my culinary interests full time and have accepted a baking/pastry apprenticeship with the Deer Valley Resort in Park City, Utah for the winter season. I am happy to have spent the past 3 years working with such a fun and intelligent group of people. I sincerely wish all of you the best in your future endeavors. Please don't hesitate to look me up if you are in the Park City area, vacation planning, or considering some radical career change like this...ha. It would be great to see old friends up there. Forwarding info is below:
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ANS: Park City Bound

QUESTION: Dan, Attached are the Field Services and Purchase Agreement with the changes we discussed. As we further discussed, there will be a letter agreement between Independent and Neidigger (??) which gives independent the right to produce and market his gas in accordance with the terms of the attached agreements. Do you have Niedigger real name and type of entity?
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ANS: Independent

QUESTION: Tanya: We finally agreed on the guaranty form (the cap is $25 million) and are about ready to execute the actual agreement. I have one question: in the ISDA world, we use "cost of funds plus 1%" as the default interest rate. The Bear document provides: "...interest thereon at a rate equal to (A) in the case of purchases of Foreign Securities, LIBOR, (B) in the case of purchases of any other securities (or other amounts, if any, due to Lender hereunder), the Federal Funds Rate or (C) such other rate as may be specified in Schedule B, in each case as such rate fluctuates from day to day, from the date of such purchase until the date of payment of such excess." What is your preference: Bear's standard language or do you want to specify another rate?
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ANS:
Bear Stearns "Securities Loan Agreement"