IN: Armando, further to our conversations please find attached my calculation of the values we are seeing in the marketplace. The information provided is for discussions between Mexicana and ENA and is not to be distributed to any other party. As discussed, ENA's economics are based on a variety of assumptions including volumes ( that actually flow ), basis market, tariffs, and credit, not withstanding the paper we will be looking at executing. I believe Enron is your best choice in counterparties and we very much welcome the opportunity to act on your behalf as Agent in the liquidation of the transportation on El Paso. In summary, and as previously discussed I would like to submit a term sheet to you based on a summary of the documents and steps we will need to impliment to get this agreement in place. Here are just a few of the important doc's and potential next steps: NEXT STEPS: ? Mexicana needs to decided on confirm that you have chosen ENRON NORTH AMERICA to act as your AGENT. ? If ENRON is deemed agent then we need to "Accelerate' the steps in the documents summary. DOCUMENTS: ? Drafting and execution of Agency agreement between Mexicana and ENA ? Drafting and execution of physical confirm to facilitate the Monthly and Daily purchases ENA will make at the border ( Topack) with Mexicana ? Potential Deemed ISDA agreement to facilitate swaps ( to hedge spreads if so desired ). ? ENA requires ( copy of By-Laws ), even if they are in spanish, we will need these to take next step ( we have the ability to review internally) ? ENA requires power of attorney documentation ? Execution of Agency agreement between Mexicana, El Paso Natural Gas and ENA. ? Satisfactory credit review ?

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OUT: El Paso Transportation Values - CONFIDENTIAL

IN: Mike/Steve - we have verified all of the volume information and our numbers are correct. Their numbers do not include prior period adjustments in the correct production month and our PVR volumes are correct and agree with the worksheets that they sent us even though they didn't use the correct volumes for the PVR on their worksheets. We still cannot figure out how they got to the amounts that they invoiced us. Please let me know if we are going to go back to those months that we underbilled them so that NNG can recoup that money. If you have any questions, let me know. Thanks,

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OUT: EPPI Schedules

IN: Dear Susan, Well how's it going now? Have they formed a salvage plan for the company? I heard that Cuba Waddlington past away. He had bone cancer? I'm very sorry to hear that, he wasn't so old either. Was he still Frank's boss? What's with Frank these days? And Karen? It's sooooo cold here! The high maybe 32? F, MAYBE. So, I am freezing to death! I've been staying in mostly, decorating and wrapping presents. I love this time of year! I have been making Christmas gift baskets (filled with wine, candies and chocolates) for our important clients and business partners. They look so nice sitting all around our office that I don't want to give them away. I bought little boxes of chocolates filled with schnapps for the delivery people and postmen. When you have kids, you get your fullfillment of wrapping and giving, but when you don't, you have to focus that energy somewhere! We have hung icycle lights inside and out, the germans make some that are like a meter long...we hung them inside, from the galary and upper floor of the foyer, then hung american icycle lights (they are much brighter) that Julie sent us outside. It's so festive. Are your kids getting excited? Kids make Christmas. (It looks like we MIGHT have a new baby by the end of the year, afterall. Melissa's doctor is thinking that his first due date, Dec 31, could be right on target! WE HOPE SOOO!) Hope that you and your family are all doing well. And I hope that you are able to get into the Christmas spirit, in spite of all that's been happening. HAPPY HOLIDAYS! Connie **********************************************************************

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OUT: Morning!

IN: David, Here's the information for the Portland database: Machine name: napdx-sql1 user id: gasintranet password: fundamentals The Access database I created is located at: O:\fundy_ops\west desk\generation database\power_link_database.mdb The qry_curtailments is the query i'm currently using (although it only has fields for today and yesterday, and i think i need more). The tables for the query are dbo_LkpOUT_PlantCharacteristics and dbo_LkpOUT_PlantOutage. In general, I think I need two tables. One needs to show each plant and the other needs to summarize the outages by region and fuel type (both in the Plant table). I don't really have a query that prepares the data for the summary table. the other two queries in the Access database are a start. The attached Excel file has two sheets with what I would ideally like the report to look like. It might be good to group the first table by region and then fuel type as well. When you have a chance to look this stuff over, I'd be happy to discuss it further. Thanks. Mat

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OUT:
Portland Database