IN: Gerald, We are in discussion with Public Service Company of Colorado about acquiring a small gathering system just north of the Badger Wash Gas Plant. The attached document gives a little background of the transaction and lists some of my questions concerning this transaction. After you review the document, I would like to discuss these issues with you to be sure we have addressed all Crescendo's risks and obligations. Thanks,

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OUT: Crescendo - Gathering System Acquisition

IN: Steve wanted you to know that he will be attending the Gov. Davis meeting tomorrow with Greg Whalley. Just in case you need it, here is Steve's bio.

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OUT: Steve's Bio

IN: Randy: Frank Davis will be contacting you today to give you guest access so that you can view the website. This would be the best way for you to view the products that are traded. Carol

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OUT: Guest Access

IN: At the request of Kevin Montagne, I am attaching our proposed form of Non-Disclosure Agreement. 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. If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399. We look forward to hearing from you.

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OUT:
NDA - BEA Systems, Inc.