Q: Please review the following regulatory outline for the ratings package (attached file). If you have any comments, suggestions or recommended changes please call or e:mail myself or Teb Lokey. Thank you,
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A: Ratings Package Outline and tables

Q: By now you have probably heard about three memos that discuss questionable trading strategies at Enron involving the California market. The memos were brought to the Board's attention several days ago, and the Board voted on Sunday to waive the attorney-client privilege with respect to those documents. On Monday, we turned the memos over to the Federal Regulatory Energy Commission and other appropriate agencies. There are likely to be a number of investigations into this issue, and as we have with all current investigations, we will cooperate fully with these efforts. If you should be contacted in regard to this matter, I encourage you to contact Bob Williams in our legal group at 713-345-2402. However, while these investigations continue to look into the past, our focus must be on the future and on moving this company forward. Thanks for your continued efforts,
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A: Memos Discussing California Market

Q: Please read the following carefully and retain this information for use whenever you trade on Bloomberg: 1. Bloomberg charges a $15 FLAT broker fee. 2. This fee applies whether you are the aggressor or receiver of a trade. 3. This fee applies each time you make a trade on Bloomberg i.e. $15 per hit or lift, regardless of volume 4. When you extend a Bloomberg deal in Deal Entry, account for each separate trade accordingly by adding $15 to any existing broker fee. ****** 5. Because this fee is FLAT, select the "FLAT" button to the right of the broker fee. ***** 6. And most importantly, make a note in the "BROKER" box that the broker is in fact Bloomberg. I know that many of you were never notified of the Bloomberg fee structure, but going forward we should see every trade done on Bloomberg showing up in the system as having been done with Bloomberg. The Confirms group in Houston has compiled a weighty list of "missing" hourly trades since the advent of Real Time Bloomberg trading. I believe these are all in the system, but possibly short a broker name and fee. This, going forward, should no longer be a problem. Please let me know if you have any questions regarding Bloomberg trading and/or fees. Thanks,
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A: Bloomberg Fees

Q: The purpose of this e-mail is to let you know that we have filed the arbitration demand. I am out of the office today, but will circulate a copy to everyone tomorrow. Before Texaco files their answer, I want to make sure we take care of the fire eyes and dewatering line issues. Have those been paid? Please advise. Also, what is the status on the test to determine appropriate pressure (I forgot the name of it)? Let me know. I think we will probably need to arrange a phone call for early next week with myself, outside counsel, Dave and Garry to walk through some of the technical issues. Brian and Gerald - let me know if you want to participate. Thanks.
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A:
Bridgeline