This is the content of an email: Western executed 10,000 MMBtu/d of Blanco to Thoreau capacity effective June 2002, as an additional source of supply for their Red Rock expansion contract. The capacity is for 15 years at the maximum rate, generating $5.6 million in demand charges. Sold two packages of stranded firm transportation to Burlington Resources from LaMaquina to Blanco for November and December at $0.05 plus fuel, which gives TW an incremental revenues of $45,500 not already in plan. These transactions were executed through EnronOnLine.

Subject: Bullets 10/26/01

This is the content of an email: Kay, I hate to sound stupid, but............do you want all of the letters redlined or just the highlighted one? You want the date at the top of the letter to be September 13, 2001 right? Have the changes been made that these guys are talking about or is that something else? Do you want me to do a new version or just put on the track changes to pick up all the changes that have been made to the letters?

Subject: Opinions

This is the content of an email: As you are aware a "safety net" type of provision has been included in the master netting agreement to attempt to convert any underlying master agreement one way payment provision to a two way payment provision. However, this is only a safety net and should not be relied upon. It may not cover every particular definitional/form structure in an underlying master agreement. Please be sure to review the underlying master. It is probably always best to draft a contract specific amendment to convert to 2way payment since this is a critical issue to effect properly the closeout netting and setoff provisions of the master netting agreement. The specific amendment can be included in the master netting or accomplished as a separate amendment to the underlying master agreement. Any questions, call me.

Subject: READ: RE CONVERSION OF 1 WAY PAYMENTS TO TWO WAY PAYMENTS

This is the content of an email: Jeff Nogid has called about putting some ENE masters in place. I have already spoken with Clement about this. ENE will be trading FX, interest rate and equities through Gary's group. Jeff mentioned names such as Merrill Lynch Cap. Services, Credit Suisse and Sumitomo. He will obtain specific names and contacts at the various firms and forward that information to me and/or Shari. We'll let you know. Sara
Subject: Enron Corp. ("ENE") ISDA agreements