Frank and Francisco: Haven't seen you two in awhile! ENA is considering a financial deal with an offshore entity located in Panama. We have no research for this jurisdiction. I will need to hire local counsel and send a deriviatives questionnaire for response. Have you used Panamanian counsel before? Please send info. Sara
Answer: Panamanian counsel
Here is an email: An old scam has surfaced recently with renewed vigor. The Nigerian-419 fraud letter, so called because it violates section 419 of Nigerian law, is sent in many variations, by surface and airmail as well as by fax and email. Generally the form it takes is to ask the unsuspecting victim to provide their bank account information in return for a promise to deposit a very large sum of money into that account under some pretext. Employees should be advised that any information given will be used to further promote the scam through the emptying out of bank accounts, counterfeit and forged checks being written against the accounts, and for other illegal purposes. If you receive what you believe to be one of these letters, forward it to Mike Hicks (Michael.Hicks@enron.com). Corporate Security maintains a file on them, and works with the US Secret Service to reduce the number of letters received by our employees. For more information on these letters, please email or call Mike at (713) 853-6198.
What is a potential subject line for this email?
A: Corporate Security Message
Q: for "Cash Settlement Amount": If for any Determination Period, the Floating Price is less than or equal to the Strike Price, an amount equal to the product of (i) the Notional Quantity per Determination Period multiplied by (ii) the excess of the Strike Price over the Floating Price, which amount shall be due and payable by the Seller on the applicable Payment Date for such Determination Period. P.S. Melissa: In the future, send me the deal ticket for review.
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A: Puget Sound - put language (remainder of confirm has been faxed to you)
IN: Attached is the revised Petition whcih has been redlined against the draft provided last Saturday (September 15, 2001). The primary addition is the Senate Resolution on September 14 which declared that there was no longer an emergency. The tables in the Petition are being revised and should not be reviewed at this time. The following remains to be done: 1. Prepare the application for rehearing and request for immediate stay. This will be done by Douglass and will include new material not previously submitted (the commerce clause argument, a statement regarding the importation of power into California, the Senate Resolution of September 14, and the sealed declarations showing irreparable injury). 2. The refusal to grant the immediate stay will be the vehicle to satisfy the exhaustion of remedies issue so it will be necessary to force the Commission to act or to take some action which is tantamount to a denial. 3. The Petition must be placed in final form. This will require that a determination be made who will be a Petitioner in addition to Enron (the draft Petition assumes there will be direct access customers as Petitioners). Also, all citations and quotes will be verified, and the page references inserted from the Exhibit Folio. 4. The documents supporting the Petition will have to be compiled and placed into an Exhibit Folio. This will include the Application for Rehearing and sealed declarations. 5. It may be necessary to compile a folio of non-California authorities. I will check the California Rules of Court. 6. It will be necessary to prepare an Application for Immediate Stay and a proposed Order. 7. All pleadings will have to be prepared for filing and service. It is my assumption that the PUC will act on Thursday September 20, that the Application for Rehearing will be filed on September 21, and that the Petition will be filed at the earliest possible time during the week of September 24. Please provide your comments on the Petition no later than noon on Wednesday, September 19, 2001. Thanks. EWD

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OUT: Revised Petition
IN: This is an email
Christmas is almost here. Our class will give a gift to Miss. Post and the enrichment teachers. If you would like to donate $10 toward this we would gladly put $5 in the first grade pool, this goes toward gift certificates for the enrichment teachers and the coaches. The other $5 goes toward a personalized platter or bowl that our class will create with Jean Heck. Please send cash or a check to Jane Pefanis care of Nick Pefanis by December 1st. Don't forget our Christmas party Dec. 19th at 2:15pm. The Chair for the party is Morgan, the snacks are Sager and Cox, drinks are Schwartz, paper products are Morgan, the activity is Buckstaff, and our photographer is Harris. Have a great Thanksgiving! Jane

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OUT: AOS
Dear Traders, I spoke with Don at Public Service Company of New Mexico again today regarding the Schedule 9 Loss Compensation Service charges. He re-confirmed that the market price that is part of the Schedule 9 equation (Loss Compensation Service = # MW wheeled x market price x 3%) is a market price that he obtains from his marketers. I re-confirmed that his 'marketers' are his traders, though I do not know whether these are Long Term, Cash, or Real-Time Traders. He is going to talk to his traders to find out where this price came from. I brought up the point that there has been a price cap of $91.87 in the west and asked that he bring that point forward in his discussions. He should respond to me on Monday 8-20-01, on which day the bill is due. I will keep you posted on my findings. Virginia
Answer:
PNM Loss Charges, Schedule 9