IN: John- I have been helping David Draper to review the NYSEG positions we currently have, and accurately reflect our exposure, based on LDC restrictions. The one factor that I hope you can help with is the physical constraints in delivering gas to NYSEG off of certain pipes. It appears as if most of our position is based upon deliveries off CNG, which I don't believe has any physical constraints. However, we also have small positions requiring us to deliver off of TCO, Iroquois and Algonquin. Based on the pricing I see in RGS, there is obviously some issue with delivering off of TCO in the winter. I'm wondering if you can help explain this, as well as any other issues you are aware of here. It's probably easiest to talk through it rather than e-mail about it, but I assumed you were trading. You can call me at x35514 when you have some time. (If David has already contacted you about this, let me know and you don't have to repeat yourself.)

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OUT: NYSEG

IN: Ken and Jeff: Glen Darden, the President and CEO of Quicksilver Resources, Inc., is a longtime personal and professional friend of mine. Recently, he has asked whether I would consider serving as an outside Director on the Board of Directors of Quicksilver. Before meeting with Glen to discuss this further, I want to make sure that Enron does not have any objections. Headquartered in Fort Worth, Texas, Quicksilver is a natural gas and crude oil production company engaged in the development and acquisition of long-lived producing natural gas and oil properties. Quicksilver began trading publicly in March of 1999 on the American Stock Exchange (KWK). Quicksilver has a long standing business relationship with Enron. Enron has historically entered into pre-pays and hedging transactions related to natural gas production and continues to do so today. Enron (via JEDI) also provided some financing at the time of the merger of Quicksilver and Mercury Exploration and was a significant shareholder of Quicksilver at the time of its initial public offering. I believe JEDI has since divested this stockholding. If I were to serve on the board of Quicksilver, I expect that there will be related party transactions of a routine ongoing nature that would need to be disclosed and which I would need to abstain from voting on as a member of the board. However, I do not feel there would be any material conflicts of interest as Quicksilver's core business is complementary to Enron, not competitive with Enron. As a personal matter, it is an experience that would be beneficial and would provide valuable personal visibility in our industry. I am scheduled to meet with Glen and others at Quicksilver later this month to further discuss this possibility. Would each of you please let me know after due consideration whether you have any objection to or concern with the position. Please do not hesitate to call me (x67713) if you have any questions or wish to discuss this further. Thanks.

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OUT: Quicksilver Resources

IN: james r barker ees patricia downey ees donnie myers/na/enron ENA sold EES 5,000 dth a day delivered on Iroq Zone 1. The price is $3.14. The total volume is 150,000 for the month. Patricia is only showing a purchase in your system of 140,000 for the month. I think you forgot to put in some of the buy/sale activity. My system shows ENA delivered 130,000 to Canajoharie and 5,000 to Tenn-Wright one day (you though little ol' ENA was taking advantage of you). For 3 days we bought the gas back from you and we are showing the buy/sale activity at Tenn-Wright. The total buy/sale volume is 15,000. I think you need to add another 10,000 to your buy/sale activity. Let me know if you have any questions. Buddy

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OUT: Sale to EES for April

IN: I am getting ready to fax you the Cancellation Agreement which has been executed by an officer of ECT. I have two originally executed copies which I would like to overnight to you for execution and I need your address. Can you please email it back to me. Much thanks!

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OUT:
Cancellation Agreement