Subject: "C-Gas".

Body: Steve, please call Jeff and go through in detail how we got to our valuation of approximately $39 M. Please ensure that this is a reasonable facsimile of value that ENA would accreate over the short to medium term assuming your continued management. Let me know where you end up. Regards

Subject: "Crestar 9/01".

Body: Patrice: I understand from Jerry at Crestar that you two have spoken and that we will be revising deals 599461 and 1022740 for Sept 2001 to keep the firm deal, 599461, whole. Have you communicated this to Kirk Lenart in logistics so he can repath the deals? I will be out of the office this afternoon, but will be back on Monday. If a payment needs to be made, we can get it out on Tuesday. We've only short paid $500.00. Going forward, should we be keeping the firm deal whole and swinging on the AOS deal? We've had some confusion in the past on how to handle these deals and I would like to be able to verify that we are accounting for them correctly. I tried to find a copy of the contract, but have not come across one as of yet. Thanks,

Subject: "Documents".

Body: Mr Fletcher: Per the request of David Jones, attached please find a revised version of the Master Firm Purchase/Sale Agreement between Enron North America Corp. and Yankee Gas Serives Company with incorporates your comments. Also attached is a letter amending the Letter of Understanding which moves the deadline for entering into definitive agreements to December 3, 2001. Please secure execution of the letter and return to Jeff Hodge at fax number (713) 646-3490. He will secure execution on behalf of ENA and fax you the letter. Should you have any questions, please page me at (713) 761-4336.

Subject: "Positions for the weekend - READ THIS".

Body:
For Saturday: STWBOM will be long 20 mw HE 2-5 @ PV due to a parking deal with PNM. Day-ahead price is $15.50. Make real time sales to take care of this length under the STWHOURLY book. Enter an inter-desk purchase from STWBOM under the STWHOURLY book. For Saturday and Monday: STWBOM will be short 50 mw on peak @ SP15. Day-ahead price is $27.60. Make real time purchases to cover the short under the STWHOURLY book. Enter an inter-desk sale from STWHOURLY to STWBOM. Then make a sale under the STWBOM book to the Cal-Imbalance to complete the deal. For Saturday and Sunday: STNW will be short 44 mw off peak @ PGE System due to a lending deal with PGE. Day-ahead deals are at the Mid-C Index. Make real time purchases and any transmission necessary to cover the short under the STWHOURLY book. Enter an inter-desk sale from STWHOURLY to STNW. Link real time purchases to STNW deal 828626.