IN: I'm attaching a revised draft of the option to purchase the land for the VEPCO deal. I've limited it to the land in Edgecombe County, changed the initial period to 90 days (with 3 x 90 day renewals). The price is changed to $137,600, as have the option payments ($3500 for each 90 day period). Is there anything else which needs to be changed? FYI, I've left a message for Dutch Bumgarnder, VEPCO's lawyer, concerning the interconnection agreement, and who is doing what. Thanks,

Generate a subject line.

OUT: VEPCO land option agreement

IN: Men: The dreaded time has come. Rent goes up and it is a month earlier. The initial $8,000 payment is due to Mertz on March 1, 2002. In addition, I paid Mertz $500 for the protien that he fed during the last hunting season. I need each of you to forward me a check for $1,071.42. Send to 815 walker, suite 1447, H/T 77002. Thank you. Erik.

Generate a subject line.

OUT: Deer Lease Payment

IN: Per several conversations with Mirant (our upstream) and Pinwest (our downstream) the following situation occurred on July 19th between 2:30 p.m. and 4:00 p.m. Deal #694398 $41.00 our purchase from Mirant Deal #693496 $40.75 our sale to Pinwest Mirant(G)sp15-Ciso(t)sp15/pv5#scem_sp15_pv-Mirant-Epmi-Pinwest-aps(t)pv/ww#gf-Pinwest Mirant was cut by the CISO per Dan at the Mirant Real-time group. He was unable to re-supply an upstream. Pinwest would not allow the schedule to flow on a real-time basis per Carla on the scheduling desk. Enron agreed to bookout out with Pinwest and bill LD's to Mirant. I spoke with Glen Ryan at Pinwest at about 3:30 to agree on a price at which Enron would buy back the power in order to bookout. He said it would have to be the purchase price which was $345.00. In a later conversation about 3:45, I told Pinwest that we would not agree to the purchase price of $345.00 and that the current market price was around $45.00 - $50.00 per mw hour. They would not agree to the current market price and will bill us L.D. 's.

Generate a subject line.

OUT: Liquidated Damages that need to be passed on to Mirant

IN: Dear Global Oil Retainer Client, PIRA is expanding its weekly assessment of global refining profitability to include Mediterranean and Singapore refining regions - key additions to those already provided on a weekly basis, which include "cracking" for WTI crude in the U.S. Gulf, Chicago and Group 3; "cracking" for LLS crude in the U.S. Gulf; and "cracking" and "hydroskimming" for Brent crude in N.W. Europe. These margins are based on PIRA's proprietary crude yields, and represent industry or "swing" refinery margins. The added margins are "cracking" and "hydroskimming" for Urals crude in the Mediterranean, and "cracking" and "topping" margins for Dubai crude in Singapore. The $/Bbl margins represent incremental cash operating margins, which equal gross product worth, less delivered crude cost, less variable refining operating costs. Margins are calculated and plotted for each day that prices are available. PIRA will continue to publish margin charts every Monday afternoon at www.pira.com. Look for further announcements in the future as PIRA continues to enhance worldwide refining information for its Retainer Clients, including margin analysis in other key refining regions. PIRA Energy Group

Generate a subject line.

OUT:
PIRA's Weekly Refinery Margin Charts