IN: I have placed the contracted information we discussed in a file called "TW Firm October 1996.XLS" on "S:\MARKETING\TW_FLOW". This file has all of the firm contracts, including capacity release contracts, contracted on or after October 1, 1996. It includes the contracted points and the contracted volume at each point. I decided to include the capacity release contracts thinking that their rates might show us the market value of the capacity over time. I can easily remove this data if you don't think it will be helpful. My next steps, as I understand it, are to 1) extract commodity volume, revenue and rate information from the invoiced data for these contracts; and 2) extract a sample of daily flow information from the scheduling system for these contracts for Sean to review. Please take a look at this data and let me know if it meets your needs, or if you need additional information. I'll keep working!

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OUT: Status - Firm Contract Data Request

IN: URGENT - WEATHER MESSAGE NATIONAL WEATHER SERVICE SACRAMENTO CA 1027 AM PDT FRI JUN 1 2001 CAZ018-020300- CARQUINEZ STRAIT AND DELTA- ...THE NATIONAL WEATHER SERVICE HAS ISSUED A WIND ADVISORY THROUGH EARLY EVENING... AN APPROACHING LOW PRESSURE SYSTEM IS GENERATING STRONG WINDS THROUGH THE DELTA TODAY. WIND SPEEDS OF 20 TO 30 MPH WITH OCCASIONAL STRONGER GUSTS WILL PERSIST THROUGH EARLY EVENING IN THE DELTA. THE WINDS ARE EXPECTED TO DECREASE DURING THE EVENING INTO THE 15 TO 25 MPH RANGE. $$ BARUFFALDI NNNN [SFONPWSAC/991416507] EDIS-06-01-01 1028 PDT

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OUT: [EDIS] URGENT WEATHER MESSAGE [Urgent: Sacramento Valley]

IN: I am seeing more and more credit derivatives. The trades originating in Houston are coming from Jeff Kinneman's bond/debt traders but are booked in the name of ECT Investments, Inc. or ENA. I can't be certain if these are backed to EnronCredit.com Limited. In particular, there is a proposed total return bond trade with DLJ International Capital requiring ECT Investments to post collateral. We have no master with this party. Who in Houston credit is looking at credit derivatives? FYI, other credit deals seem to be transacted wtih Deutsche Bank and UBS AG.

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OUT: Credit Derivatives

IN: H.L. Jacobson ExxonMobil Gas Marketing Company Further to our discussion Friday, concerning certain confirmations for ExxonMobil Gas Marketing Company, I have determined the following: first, ExxonMobil or HPL may confirm transactions as agreed at the time of the trade; second, in the event HPL confirms, we have made changes to our system which should prevent the issuance of GTCs for Exxon Mobil Gas Marketing Company trades, with the exception of "online" trades, therefore causing future trades relating to these agreements to attach to one of two contracts under discussion Friday. Please bear in mind these changes may not be in effect until the end of next week. With regards to confidentiality language contained in the confirm, we are unable to amend this at this time. Finally, concerning the August 8th letter (confirmation) provided by you in the meeting, we are in agreement with same. We trust the foregoing meets with your approval. Please do not hesitate to contact me with any questions you may have regarding this matter. Regards,

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OUT:
Confirmation