Here is an email: Rod: I found my file and here is where things stand: 1. On cross default threshold, they wanted it to be the same as the collateral threshold but my notes indicate that they were okay leaving it at $100,000. 2. In lieu of receiving financials from them, we had agreed to accept quarterly and annual Lease Operating Statements. Did I use the correct term? Do we need a definition for this or is it understood what these statements are? I am also assuming that they are internally prepared. Is that correct? My notes indicate that these would be provided within 90 days after quarter end. 3. We agreed to a collateral threshold for them of $500,000. 4. For the MAC trigger, is the only test the Net Cash Flow/Revenue test and if so, what would trigger the MAC? Are there other triggers? We used to have Funded Debt/Partners Capital, EBITDA Coverage Ratio and Minimum Partners Capital tests. Alos, here are my proposed definitions: Cash Flow means Net Income plus depreciation and non-cash charges minus capital expenditures as shown on the income statement. Net Income means gross revenues and other proper income credits, less all proper income charges, including taxes on income. Revenue is cash received from the sale of oil, gas and plant products. Should there be references to the Lease Operating Statements in these definitions? 5. All Performance Assurance would be rounded up to multiples of $10,000. This is all that I have. Let me know what you think. Carol
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A: SG Interests V
Q: Pat, You should have been included on this. I probably won't go to these meetings since I won't be dealing with Unify much in the future. I don't mind going with you for the first couple of times if you need me to, though. D
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A: Recurring Logistics Unify Meeting
IN: It currently appears that I will be on the road Wednesday and Thursday. Figures! I am going to send you a copy of the marked up interconnection agreement, which has comments from various Enron people. I thought it might help you think about which way to head. I would appreciate receiving an electronic file of the IC you prepared. Talk to you soon, Kay

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OUT: schedule
IN: This is an email
I probably should have picked your brain first, but I bought some stock today. I think the punding you guys have taken is getting a little carried away now. While there is uncertainty over Skilling leaving, I think your guys fundamental position is still excellent. Can't say I bought enough to help turn it around, but I hope there are others who feel as I do..................... Anything new going on? Pretty much the same ol here. Just about to go into my busy planning period, Sept-Nov, so not looking forward to that much. Kids are doing well and two of my three start pre-school next week, so mama is relieved. Take care, E Gerald.Nemec@enron.com 03/26/2001 10:14 AM To: Ernie J Zavaleta/Frito-Lay/US@Frito-Lay cc: Subject: Re: Any Plans tonight? Hey Ernie! Sorry I didn't get back with you Friday. I left a little early, so I must have just missed your message. Did you guys have a good time on Friday night? How is everything going? It has actually been thick around here. Worked several late nights last week to try and get caught up. I may have to delay the purchase of the new car with Enron's stock taking a hit lately. It did gain some points on Friday and early today. Hopefully it keeps it up. Talked to George since his wedding? Haven't heard anything out of him since. Probably just overcome by marital bliss. "Zavaleta, Ernie" <Ernie.J.Zavaleta@fri To: Gerald.Nemec@enron.com tolay.com> cc: Subject: Any Plans tonight? 03/23/2001 03:18 PM

What is the subject?

OUT: Enron Stock?
QUESTION: Kaye: Please schedule Sam for an hour on Friday. Also, when avoidable, I'd prefer not to meet at 1 pm because people are always late. Thanks. sara
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ANS: Lotus Notes - Brokerage Agreements
IN: Please note: Prices were not updated in last night's spreadsheet. Correct prices are in 3/6 worksheet now. Also, per Daniel Kang, EES load is shown in negative numbers, Dow Jones and fixed price sales are shown in positive numbers. Please call with questions. Thanks,

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OUT:
Updated EES Sales 3/6