This is the content of an email: Lisa and Liz; I am very concerned about the way that credit is handling and coordinating = with us on margin issues. For over a week we have been waiting for them to= compile and send to us information on LC's that are due to expire at the e= nd of December. We finally received a very cryptic spreadsheet this aftern= oon which requires alot of follow up in order for us to determine what our = rights are. I get the sense that credit assumes that since we are in bankr= uptcy we will never have the right to draw on LC's that we are holding when= in fact we know that this is not necessarily true. For example, this afte= rnoon I found out that we are holding an $8 million LC for trades done with= Enserco under an ISDA. The drawing condition is a failure to pay. Under = the ISDA, they were required to renew this LC within 20 Business days of th= e expiry date which is 12/31. If they don't renew I'm hoping that we can d= eclare an Event of Default, terminate, request payment of a termination pay= ment and if they don't pay draw. I'm not sure that by following all of the= cure periods in the ISDA we can be in a position to draw on the 31st. Tha= t's just one example. Do you have any thoughts on this?

Subject: Credit issues

This is the content of an email: John, I will have my cell with me until Saturday the 22nd. 713-569-4684. From the 22-29th please reach me at 781-830-9199. I will be out of the country but checking in at that number. I will call you tonight to make sure that this information has made it to you. Thanks-Jeb

Subject: info

This is the content of an email: Although I realize it is likely too late, an alternative to forgoing the incentive clause under your employment agreement would be to instead accept the $60 million, and set up a lottery for Enron employees in which 30 winners would each win $2 million (or some variant, i.e. 10 winner for $6m, 120 for $500k etc.). This could be done for employees of record at the time of the merger. The idea clearly has pros and cons, but on the whole I feel would create some positive news for people to focus on in this difficult time. It would certainly be a non-traditional and positive way to close the Enron era.

Subject: "Outside the Box" Employee Morale Idea

This is the content of an email: POSREP HOEGH GALLEON, DATE:08 MAY 01 A) Position at noon : N 24,7? E 36,2? B) Dist. from last noon : 371 nm C) Dist. to go to next port: 2101 D) Eta next port : 13 0900 LT E) 1:Average sea/weather : Wind: W5 Sea: W4 2:Average speed : 19.03 knots / average RPM 92.55 3:B.O.G. consumed : Nil B.O.G. Total : 4:F.O. consumed : 143 mt Brgds Knut Bentzr?d Master LNG/C "Hoegh Galleon" E-mail: master.gall@hoegh.no Teleph: Inmarsat tel.no.+873 330853910 Fax : Inmarsat fax no.+873 330853913 Telex : Inmarsat B telex no.+583 330853915 Telex : Inmarsat C telex no.+583 430853910 (24hrs.watch)
Subject: POSREP