Here is an email: Attached is the preliminary CA monthly report for December for your review. Please verify the following: TK - The rates under Item 1 (especially those highlighted in pink, which I updated manually by reviewing invoices/transactional reports) Darrell - The operational capacity and footnotes under Item 3 Terry - The scheduled and/or nominated volumes under Item 1 and 3 (I've done some cross-validations checks but another pair of eyes will help) Jeanette - Overall data and format for accuracy Please provide any comments to me no later than COB Monday, 1/21/02, for updates. Once finalized, I will email to the full distribution list. Thanks,
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A: Transwestern FERC California Monthly Report - Dec 2001 (Preliminary)
Q: Attached is the letter agreement which extended the EE&CC confidentiality agreement to our deal. Please review and if it looks OK, print out on ENA letterhead two copies for execution. I will need an original when it is executed.
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A: Aera Confidentiality
IN: Dan, I have reviewed the Wildhorse (Mesa) Gathering, Processing, and Transport Agreement. This agreement is still valid and the gas is dedicated to this Agreement through 2013. The agreement present some problematic issues which I will outline. 1. Gas Quality - The gas quality provisions only require Wildhorse to transport the gas if the gas meets the downstream carriers (in this case Northwest Pipeline) gas quality specifications. We propose to put in a treating plant which would allow the gas to meet the specifications, however there are no provision in this Agreement which allow us to insert a plant between Northwest Pipeline and Wildhorse. Wildhorse could delay are extract value from us for this connection. This is an uncertainty. 2. Wildhorse Obligation to Perform - Based on my understanding of the facts, at some point during the term of this agreement, Northwest Pipeline enforced their gas quality specifications and refused to take the gas at the downstream side of Wildhorse's Gathering System. As a result, Wildhorse shut in Enogex's production and it has been shut in ever since. Wildhorse has a right to do this under this Agreement (see #1 above) and therefore Wildhorse has not breached its obligation to transport under this Agreement. Wildhorse's obligation was suspended when Northwest refused receipt of the gas. 3. Unprofitability - Assuming Wildhorse worked with us to install the treating plant which conformed the gas to Northwest Specifications, they could refuse to provide gathering service under this agreement if it was still uneconomical for them to do so. If they decided it is uneconomical for them to do so, they have the right to provide Enogex with various potential solutions which include (i) renegotiating the terms (ii) allowing Enogex to operate Wildhorse's equipment at Enogex sole cost, expense and risk, or (iii) release the gas from the Agreement. The problem here is that there is no time limit under which Wildhorse must reach a solution with us and no specific solution they must reach. Wildhorse could drag this out for some extended period of time and they could extract significant value. My recommendation is that we make Enogex's resolution of these issues with Wildhorse a condition precedent to closing and funding this deal. I know the timing is late. However if Enron funds this deal and takes on the risk of negotiating with Wildhorse to resolve either a new deal or a release of the gas, everyone needs to understand that such negotiation could take substantial time and Wildhorse will have significant leverage. Let me know if you wish to discuss this further or have any questions.

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OUT: Wildhorse Gathering Agreement
IN: This is an email
Here are my comments. Great job. I think that the rate design table is a little impenetrable for folks who ain't close to it. It might benefit from an addition bullet of explanation. Best,

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OUT: comments on CA solution
QUESTION: The Board meeting has concluded and I can now focus on the task force. The following people in RAC have been assigned to this effort as follows: Legacy Opportunity Molly Harris Teresa Seibel James Copeland Michael Tribolet Jay Hachen Minal Dalia Don Rollins Rick Carson Jeff Soo Debbie Brackett Sue Vasan On Going Opportunities Denise Fury Mark Wilson Dana Smith Andrew Greer Martin O'leary Jay Hachen Dave Gorte Darren Schmidt Vladi Gorny David Port Jeff Soo This is a huge commitment of staff from RAC and will strain us no end, but it is necessary. If you want RAC to lead this effort I will appoint Michael Tribolet to manage the task. If you want someone else to manage the effort we will assist as we can. Regardless of who leads this effort we need following: Commitment of EES back office staff people Commitment of IT resources Commitment of Skilling to fund the overage to the RAC budget, which I am under huge pressure to reduce, not increase. Let me know how to launch this program. Rick
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ANS: EES Task Force
IN: Lisa Bills and I spoke concerning this transaction, and what kind of document we can put in front of Peoples at this time. Here are the highlights from our conversation: Enron can't enter into a binding commitment to purchase the equipment without putting the Moore project on the balance sheet. Therefore, either WestLB needs to enter into the agreement with Peoples or Enron can enter into an option agreement. There is room in the WestLB facility for the turbines; however, RAC needs to approve the purchase. Lisa advises that Transaction Support (Herman or Roger) needs to buy in as well. I understand we would like to present a binding agreement to Peoples tomorrow, however, this appears to be problematic given the need to keep the Moore project off the balance sheet. I'm available to discuss this. Lisa advises that she will be in tomorrow as well. Lisa, please correct me if any of this is not accurate. Kay

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OUT:
ABB turbines/site marketing agreement