The above transaction was presented to the Board on 1-29-2001. There was considerable discussion which I have summarized below. Returns: were the returns sufficient to syndicate the risk. I answered positively, which is what the capital price addresses. The dash return is a blended debt and equity return.(?) Was the $19 million excess proceeds enough to allow the company to operate. I answered yes since 85% of reserves are producing and little capital will be needed to develop pdnp and pud reserves. Is management capable of operating or will they be in chapter 11 again soon. I answered that the bankruptcy was a result of overpaying for Wyoming deal and low commodity prices last two years which resulted in a bb decrease below outstanding. We will have to watch this issue carefully. Are banks reluctant to support KCS and could this cause a liquidity problem? Answered that all creditors were made whole and likely that someone will come into credit but it was a risk, although for the time being they had enough cash to operate. This feedback is just for fyi but it does indicate that board is active and not a rubber stamp. Rick
Answer: Board Review of KCS
Hi Dave, I received a signed change order from Randy Milcer (not sure about that) yesterday. The form he signed indicates that ABB will be paying Enron, and has one small mistake in the amount of payments made on the cancelled transformers ($400 off). With your permission I will substitute the correct version so ABB gets the money. Thanks,
Answer: Change order
Lobban, Laine would like to recall the message, "Medicine Bow Loop Approved by FERC". ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ******************************************************************
Answer: Recall: Medicine Bow Loop Approved by FERC
Jeff: My name is Tom Mashington and I'm a Construction Project Manager for EES in their Philadelphia office. A few weeks ago, I received in the mail a Enron newsletter which contained a feature of you and your interests. While reading the article, I noticed that you're into "Anything Africa." Two years ago, I was working in Ghana, West Africa on a cogen plant with Stone & Webster. Most US. citizens have no idea what the conditions are like in these 3rd world countries. I was curious as to how many trips you've made to the sub-Saharan section of the continent and to which countries you have visited. Earlier, I was discussing my African experience with Marty Sunde. I sent him a few ebony wood carvings purchased from the local villagers. These pieces were hand carved by artisans in the area. If you have a moment, you should stop by his office on the 8th floor where he has them on display. I have also attached the files containing a few digital photo's from the area where I lived and worked. These are primarily photos from the local villages near the plant. While you're viewing the photos, you should be able to recognize me. I'm the only American looking individual in the tribe. Enjoy Tom Mashington
Answer:
Africa