Subject: "Pluto Contract Binder".

Body: Louis DiCarlo called and needed the binder back on the Pluto contracts. He said you had given them your opinion so he thought you were through with them. He needed them returned and so I gave them to him. There was a memo sitting on top of the binder but I did not give it to him. It is still on your bookcase. Hope it was okay. Rae

Subject: "C-Gas".

Body: Jeff, I don't believe the offer I showed you of $39 M is unreasonable. In fact the team had recommended $42 M based on a number of measures. I see the 6X multiple of annualized Q2 earnings as one of the best measures of the potential value of this company. I don't see it in the best interests of Enron to be transferring assets below a reasonable market value between business units. You can trust that I will be keeping the Energy Capital Resources team's feet to the fire on the realization of this value if you do not purchase the company. If you and Steve can come up with a better indication of value, I will support that transaction. Regards

Subject: "Innappropriate E Mail Materials Received".

Body: I am sending this notification to your department to seek a solution of halting and stopping inappropriate e mail materials which I am receiving. I have been requested by Louis Soldano, Enron attorney for the Gas Pipeline Group, to apprise you of this situation. The content of materials received, I consider offensive, and am sure it would also be considered objectionable and innappropriate by the standards of Enron Corporation. Please be advised, that many times it is difficult to screen this material based upon the headings and titles that accompany the contents. Consequently, innappropriate materials such as this are opened. I have accidently opened two such e mails by mistake and have received the "Enron warning" that my name and mailbox will be or may be audited in the future and that my name has been placed in a file. Because of this, I am extremely uncomfortable about future accidents occuring and more importantly, about the increased frequency and accessability of my e mail box to trash and questionable materials. I would appreciate your immediate attention in this matter. Thank you very much.

Subject: "Coca-Cola Construction".

Body:
Attached is the final version of the Bammel Compression Turnkey Construction Agreement used in Project Looper. This agreement will require some modification for use in Project Coca-Cola, but is a good starting point. In the interest of efficiency I am circulating this for your review and comments. We can then discuss how this needs to be tailored for the CO2 project. Please note the following with respect to this agreement: 1. A detailed engineering scope of work will be required for the treaters. 2. Given the financing objectives for this project, this agreement should be as lump sum price as possible with liquidated damages for in-service date risk. 3. A performance criteria guarantee section will need to be added which references specific plant peformance criteria in the scope of work. FYI, I will be in Albuquerque tommorrow for a Compression Services project. After your review let's discuss.