Subject: "Sale of Napoleonville Property File #ENR-02".

Body: Gerald: Attached is another draft of the Purchase and Sale Agreement with several revisions. I revised the property description because the description I used before was supplied by the appraiser and was not definite enough. I inserted the Tax ID numbers and correct addresses and deleted the L.P. as an intervenor. I also set up the Cash Sale so that it could be executed in counterparts rather than at a single closing. The survey plat supplied with the Appraisal report appears to for the 5.081 acre tract of land previously sold. Do you have a survey of the Subject Property? I will send this revised draft to the Police Jury on Monday. Keith - PURCHSALAGR#5.doc

Subject: "1 factor HJM for the propane project".

Body: Stinson, Here is the 1 factor HJM model for curve simulation originally designed for a Coal Plant valuation. This techniques is useful for all kinds of curves, especially when we do not have the quality data to estimate other factors. (situations where only volatility curve is availiable). Let me know if you have any questions. Zimin

Subject: "New York State Electric & Gas ("NYSEG")".

Body: Tom: I'm trying to finalize the ISDA Master Agreement with these guys. We have one issue: If there is a long-term market disruption event (i.e. over 3 days), and we have no fallback price, then we negotiate a price and ENA would normally obtain 2 quotes and average them. Our position is that we prefer to obtain the quotes because if a disruption were to occur, we would obtain quotes for hundreds of deals in the same manner (because our agreements will all have the same provisions) and it is possible that 4 quotes may not be available. NYSEG would like for each of ENA and NYSEG to obtain 2 quotes and then average the 4 quotes. Are you agreeable to this? Sara

Subject: "Expense Reports Awaiting Your Approval".

Body:
The following reports have been waiting for your approval for more than 4 days. Please review. Owner: Beth W Apollo Report Name: General Expenses - Sept & Oct Days In Mgr. Queue: 9 Owner: Kevin G Sweeney Report Name: 11/09/2001 Days In Mgr. Queue: 9