QUESTION: KN (Oneok) called to get more information about the Right of First Refusal in their current contract. The minimum requirement to keep ROFR in a contract extension is with maximum rate for at least 1 year. Cathy Bulf will let TW know by Monday, and in writing, if they would like to exercise.
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ANS: Bullet

QUESTION: FYI. Attached is a presentation on gas markets that I gave to an electricity group yesterday. The group was formed out of California's restructuring legislation (AB 1980). It's called the "AB 1980 Implementation Group" (I heard that the group decided that its time to change its name.). The group includes just about all of the interest groups in California. I focused on the fact that gas offers a model of a "real" market that California should look to in order to fix the "artificial" and failed electricity model created by AB 1980. Best,
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ANS: Gas Presentation

QUESTION: Hi Beth, Chris Glaas had forwarded the confirmation formats (including your required changes) that you had sent out to him yesterday evening. At the same time, our lawyers in Houston have circulated a copy of the confirmation yesterday. Principally, they are the same that we circulated earlier, except that some of the defined terms in their confirm is more aligned to the Master Energy Swap Agreement. For e.g. Determination Period, Trading Day, etc.. I am attaching a copy of their draft for your perusal. Could you kindly have a look at this latest draft and discuss any possible changes to this, including the legal changes you required in yesterday's draft, with our lawyers Mary Cook (713 345 7732) or Sara Shackleton (713 853 5620) directly. We are hoping to get the actual dates, barrels etc. soon. Thanks very much for your help. Rajaram Jamadagni Enron Europe Global Finance
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ANS:
ENA - MS Confirmation Formats