IN: I would like you to verify the open ENE positions. Both Jeff Nogid and Steve Ross are gone and they did all the day to day handling. I show the following are the only open ENE positions: Counterparty Deal # Shares Comments Warburg Dillon Read 1321176 205,000 Phantom shares Credit Suisse 192749 400,000 Equity swap Credit Suisse 6180927 1,025,000 Forward Credit Suisse 6180929 1,672,000 Forward NBMS 6,400,000 Options Jill

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OUT: ENE positions
IN: This is an email
Senate Majority Leader Eager to Push Energy, Environmental Issues James Kuhnhenn ? 07/06/2001 KRTBN Knight-Ridder Tribune Business News: Knight Ridder's Washington Bureau Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World Reporter (TM) ? ? WASHINGTON--Eager to exploit public dissatisfaction with President Bush's

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OUT: Senate Majority Leader Eager to Push Energy, Environmental Issues
QUESTION: Please provide me an update on the progress of the working group you have led this year. There are several things I would like you to cover in this regard. Did the working group function through the year or was it terminated (I recognize there may be good reasons for the latter, but would like to understand those reasons). What did the group accomplish? Would you recommend continuing it? Any changes? Are there other topics we should consider for working groups in the future? Any changes to the working group process itself? Please provide input on the individuals you worked with. You should be able to do this through the PEP system. If you cannot, please provide the feedback by confidential e-mail to me. Because the PRC is coming up soon, please provide the feedback by December 1.
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ANS: WORKING GROUP PROGRESS
Terrel and I had a conference call with BOC this morning. The call was very positive as they were still interested in talking with us. They had a number of questions regarding the contract terms and seems like they want to sign something by week end. I need clarification on a few issues that they raised. We need to give them answers tommorow. Proposed Contract terms: 1. Houston Zone: 1.95 MW +/- 15% per settlement Interval 2. South Zone: 2.75 MW +/- 10% per settlement Interval 3. North Zone: 15 MW +/- 10% per settlement Interval 4. West Zone: 1.75 MW +/- 10% per settlement Interval ** BOC going to Balancing Energy (+4% charges) outside the band ** 1. Interruptibility - BOC wanted to understand the mechanics. Specifically, they wanted to know how Enron would work with them to maximize curtailment opportunities. They also wanted to know the quantity they could curtail (e.g. If deal is 15 MW +/- 10%, can BOC curtail 16.5 MW, or just 15 MW). Also, do they pay any penalty when they curtail (4%, etc.) 2. Scheduled maintenance - Can they sell contract power a week forward. Is there any penalty for not being within the band during those hours. 3. BOC wants a fixed price quote for all Ancillaries and ERCOT Passthroughs. However they want the ability to unwind this fixed price position should they feel they are better off with ERCOT market prices once the market becomes more transparent. What is Enron's ability to provide such a service? 4. BOC doesnt like the 4% charge in excess of Balancing Energy everytime they are outside the Quantity Band. They said that they dont want to pay more when prices are high and they are outside the band. They want a fixed fee instead of 4% of BES price. Given the bands we have placed in the contract, BOC was outside the band a. 15% of the time in their Houston Zone Interval Load b. 10% of the time in their South Zone Interval Load c. less than 1% of the time in their North Zone Interval Load d. 3% of the time in their South Zone Interval Load Regards
Q: What is a potential subject line for this email?
answer: BOC Gases Contract
Marc, Here's a draft reply to your latest e-mail, which I would send to all those copied on your note to me. What do you think? Marc, We have sought, and paid for, advice from Indian counsel concerning commodity derivative transactions with Indian counterparites. We have had that advice updated and confirmed in connection with this proposed transaction. The result of that advice is that we will require an opinion from DPC's outside counsel that the proposed transaction is enforceable against DPC before the transaction can proceed. While I have no legal objection to sending a form of L/C that would be acceptable to us, it doesn't make much sense to go through the exercise if DPC will not be providing the necessary opinions. Mark
Answer: Reply to e-mail
Q: We know you have questions about recent events impacting Enron and our plans for the future. Ongoing investigations and pending litigation have made it difficult, if not impossible, to share information in a timely manner. While we can't address certain issues, we can tell you about our initial plans to move Enron forward and emerge from bankruptcy, and we are eager to do that. We had planned to hold an all-employee meeting tomorrow, January 23, at the Hyatt Regency. However, we don't want to subject you to the media frenzy that would certainly surround such a meeting, so we've decided to postpone it. We are currently making arrangements to hold a series of employee meetings within the building to protect your privacy. We will provide the date and times to you as soon as the logistics for those meetings are finalized. Prior to the employee meetings, we will provide an overview of Enron's new organizational structure. You can expect that memo shortly.
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A:
Employee Meeting Postponed