IN: This is an email
At the request of Anita Herrera, I am sending you a list of discrepancies with the J. Aron trades. I tried to send this earlier and attached the wrong documents. Please disregard that email and delete it. Thanks.

What is the subject?

OUT: Statoil Reconciliation

IN: This is an email
I would see the primary responsibilities: 1. Develop with Fallon a written process for the valuation of terminated contracts. We will most likely only have Bjorn for a short period of time given his reluctance to go to NETCO. While no one appears to care about the fact that we have no way to render a correct value for financial statement purposes, this would be a priority if I was managing the estate. There is no metric for the approval of comprises internally. Our curves say one value, the counterparties quotes say another. Differences in value may be a better metric that notional settlement amounts. 2. With IT, assure that the terminated contracts are frozen in value. The book is currently floating, rendering an open position which is unmeasured as to VaR. Examine ways, if any, to manage this uncovered market risk. 3. Valuation of assets held for sale and DASH process. It would appear that we should work backwards from the summary of sale that the Unsecured Creditors Committee wants. There have already been complaints about multiple forms (DASH, transaction review committee for). This would require revamping the DASH process and TAP. 4. Revaluation of International assets. 5. To the extent EES performs post petition, value this book and the associated ongoing costs associated with it. 6. My understanding is that the billing on performing accounts is behind. Manage and develop a process to collect these past due amounts. Collectibility does not improve with time. 7. Ongoing review of business unit's cash requests. 8. Develop a systematized IT solution to payments and transfers made 90 days prior to bankruptcy (in process). 9. Manage the bankrupt counterparty portfolio. 10. Collect amounts owed by PG&E and So Cal Edison ($545 million notional). 11. Maintain a pipeline report.

What is the subject?

OUT: Oldco RAC

IN: This is an email
Rick, The responsibilities of the Retail Electric Market Group would be as follows: 1. Open New Markets - Work jointly with legislative team by providing technical analysis and testimony etc. in opening new markets in states identified by Enron. 2. Deregulation Proceedings - Spearhead participation in deregulation proceedings to unbundle utility rates, establish stranded costs and structure the transition period leading to customer choice. Also included are the various rulemaking proceedings establishing the details of how the market will function. 3. Implementation of Customer Choice During the Transition Period - Assist EES and ENA in determining value propositions and structuring products. Provide support for state certification and registration with utility companies which includes working through a myriad of issues such as EDI testing, processing DASR's. billing, metering, environmental disclosure, transmission service agreements, etc. Assist in sales calls as requested. 4. Post Transition Period Market Structure - Participate in proceedings establishing terms, conditions and pricing for such issues as Provider of Last Resort and Default Service. This issue is being addressed in New Jersey, Massachussetts, Ohio and Illinois. Hope this is helpful. Janine

What is the subject?

OUT:
Retail Electric Market Group