Q: Please create a duplicate set of documents in my CA Development folder, just changing the name to CA Energy Development II LLC. I'll need both sets. Thanks,
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A: CA Development - revised documents

Q: At the request of Bob Shults, I am attaching our proposed form of Letter of Interest. This LOI has been revised to cover US crude, refined products and coal and emissions. If the enclosed meets with your approval, please execute the agreement and return it to me via fax no. (713) 646-3490. I will then have it executed by Enron Net Works. If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or Bob at (713) 853-0397.
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A: LOI - United Fuels International Inc.

Q: In order to complete the approved list of counterparties fo the new online trading system I need a list of master agreements you have negotiated that do not have all the necessary representations (e.g. trade option exemption) and definition references to permit trading energy commodity derivatives. Friday noon would be soon enough. Thanks,
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A: Restricted Mater Agreements

Q: The above transaction was presented to the Board on 1-29-2001. There was considerable discussion which I have summarized below. Returns: were the returns sufficient to syndicate the risk. I answered positively, which is what the capital price addresses. The dash return is a blended debt and equity return.(?) Was the $19 million excess proceeds enough to allow the company to operate. I answered yes since 85% of reserves are producing and little capital will be needed to develop pdnp and pud reserves. Is management capable of operating or will they be in chapter 11 again soon. I answered that the bankruptcy was a result of overpaying for Wyoming deal and low commodity prices last two years which resulted in a bb decrease below outstanding. We will have to watch this issue carefully. Are banks reluctant to support KCS and could this cause a liquidity problem? Answered that all creditors were made whole and likely that someone will come into credit but it was a risk, although for the time being they had enough cash to operate. This feedback is just for fyi but it does indicate that board is active and not a rubber stamp. Rick
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A:
Board Review of KCS