IN: Chris: I checked with Samantha. The counterparty is holding two orignal ISDA documents (complete with boilerplate and Schedule/CSA) and ENA resolutions (in the form of unanimous consents) and incumbency. Sam will check on the ENE guaranty. There is nothing more that we can do unless you want us to call the counterparty/lawyer. Please advise. Sara

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OUT: So Cal Water

IN: 1) The G-IMB rate is the monthly gas adjustment rate published on their web page. For Sept., it was $3.92 per Dth. (Last winter, it exceeded $60 per Dth.) The calculation under Sec 6 of the margin agreement would always use the most recently published price. 2) Their current calculation shows a short of 76,000 Dth based on usage of 648,000 and delivery of 572,000. Brent will fax me the actual documentation. 3) Gas in storage is not pledgeable for this purpose. They are saying storage gas is already required under the contract. Brent told me there will definitely be a letter sent to Enron today spelling out the request and consequences for non-compliance by the 13th. I need to know who all should receive this letter and proposed agreement.

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OUT: Answers from SoCal

IN: Vickie gave me an open season notice on Transco's Momentum Expansion Project. Bids are due Thursday, Sep 29th. Momentum is expected to be in service by 5/1/2003. Shippers can elect the following receipt points, St 65, St 85, or Destin. The primary delivery point is St 165. The minimum term is 15 years. I will still be here doing transport.

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OUT: Momentum Expansion

IN: I know Michael wants to go to your apt this afternoon. If you do go there, just give me a call to let me know you're there so we can coordinate pickup. See you soon, Kay

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OUT:
MAM