IN: POSREP HOEGH GALLEON, DATE: 11-May 12:00 8:00 (UTC) A) Position at noon: N 14 54 E 051 16 B) Dist. From last noon: 425 nm C) Dist. To go to next port: 774 nm D) ETA next port: Qalhat 13 0900 LT E) 1: Average sea/wind Sea: E 3 Wind: E 2 2: Average speed 18.48 kn RPM: 93.17 3: BOG consumed 0 m3 4: BOG Total 0 m3 5: F.O Consumed 164 m3 6: G.O. Consumed 0 m3 Brgds Knut Bentzr?d Master LNG/C "Hoegh Galleon" E-mail: master.gall@hoegh.no Teleph: Inmarsat tel.no.+873 330853910 Fax : Inmarsat fax no.+873 330853913 Telex : Inmarsat B telex no.+583 330853915 Telex : Inmarsat C telex no.+583 430853910 (24hrs.watch)

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OUT: Posrep 11 May (RESEND)

IN: 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.

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OUT: Intercontinental Exchange

IN: Chris and Mike, We are trying to do some sales tax planning, and need to know when the first LM 6000's will be ready to ship (or store, as the case may be). I know there are projected dates in the purchase agreement, but those were more targets than commitment on the first few units. Can you give the current status? Thanks,

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OUT: LM 6000

IN: Jeff, did Mark H. sign off on us removing triangular set-off between affiliated entities. We have removed the concept as instructed by Barry, but do not want to send to PG&E unless we have Mark's OK. Also, Eric/Barry you were going to canvass Bill in terms of what he would require for Credit. Peter.

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OUT:
PG&E Master