Subject: "Intercontinental Exchange".

Body: To All - Attached is an updated version of the Intercontinental Exchange Participant Agreement - complete with schedules for transaction costs in various commodities. This form is a new version of the existing Participant Agreement Enron currently has in place and is anticipated to be effective on December 1, 2001. While I have been reviewing the legal terms and conditions, I need some assistance from you - the business personnel - on the pricing stated in the applicable schedules. These price schedules have all been updated from the existing contracts. At your convenience, please review the schedule applicable to your particular commodity or forward it to the appropriate person for review. Please let me know if the pricing is acceptable. Granted, since this is a form agreement we may not have much power to change any pricing, but I at least want each of you to be aware of the changes. Thanks.

Subject: "July 30th Cookout for OU Interns and Full-time Hires".

Body: There are five summer interns and six recent full-time hires from OU that I will invite to the cookout at my house on Sunday, July 30th. I asked Jody's opinion on whether or not they would like to bring along a guest, and his answer was yes. So I will invite all to bring a spouse/guest. I thought that I would also include Lexi Elliott, the recruiter from the Analyst Program that will be covering OU. Have you decided on the make-up of the recruiting team at OU in the fall? If so, this might be a good event in which to include them as well. I left you a voice mail message about James Scribner as a potential good member of the team. Let me know your thoughts and I can include anyone else that you would like. I plan to get invitations out to everyone by July 7.

Subject: "Annual Certifications Reports Required by Title V".

Body: Be advised that there will be a meeting on Thursday 11:00 am August 23 at the NNG Turbine station, south of Kermit Tx. to complete and submit annual certification reports which are required by the following Title V permitted facilities: Seminole Brownfield Plainview Spraberry Irion Co. No. 1 Reagan Co. 2 Eldorado Wt-2 Walton Keystone Kermit Turbine Should a team decide not to attend this meeting, be advised that the required submittal date for the annual certifications for the state of Texas is September 8, 2001. It will be your teams responsibility to ensure that the certifications are submitted prior to the 9/8/01 deadline should you decide not to attend the August 23 meeting.

Subject: "Gallup Final Docs".

Body:
I am assuming these were the last contracts. They are the last ones I was forwarded any how. None the less, my top two concerns Today: I assume we are going to compare the predicted economics to the actual economics then look at alternatives to options in Sun Devil (Like a GE turbine) I've got an idea of what we can do for the fuel portion of this deal if we do look at turbines. One of the issues dicussed in detail before we did this project with ECS was WHY is TW doing a deal with ECS versus a stand alone deal. If I remember correctly, the pitch to FERC was that TW did not have the expertise to facilitate a peak avoidance alone. Mary Kay Miller should remember these details...