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Please put attached in the SITA file. The ISDA parties are ENA and SITA. Michael Khajeh-No in the London office will be negotiating this agreement with SITA on behalf of ENA.

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In reviewing the contracts, so far I have the following questions: 1. Have Oman LNG and ADgas taken the risk of non-performance by DPC and indirectly MSEB without any credit support? The only security is the equity in DPC? Are such contracts typically secured or done with a buyer with deep pockets? How much value was put into DPC by the shareholders? 2. Are there local public policy issues that could be addressed by local courts with respect to the LNG contracts? Fraud? Bribery? Are there any local law issues with respect to performance or interpretation of the contracts? Isn't take-or-pay meaningless without credit support? 3. What are the arguments for DPC to terminate the contracts? Only where the PPA is terminated? Payments? 4. Who negotiated the contracts? Were there requests for credit support? From Enron? Did Enron ever promise to indirectly "backstop" the contracts by its investment in Dabhol? 5. What was the discussion regarding the "reduction in operational capability" language in the contracts? What was the language meant to cover? Do we need our counterparty's approval to investigate other markets? 6. Is there any argument that DPC has already breached the contracts? Could our counterparties issue a press release claiming damages over the entire term of the contract? Confidentiality and press releases? 7. What is the law on piercing the corporate veil for an Indian company like DPC? Could this issue be considered separate from the contract and be litigated in India or Oman and thus outside the arbitration? 8. What is the list of all documents that could impact on whether or not Enron has any exposure under the LNG contracts? 9. Are there instances where the Dabhol project could fail and the LNG contracts would not novate to MSEB? Why does it matter if the LNG contract obligations novate to MSEB if DPC has no money? 10. Other potential claims against Enron if the LNG contracts are terminated or not performed?

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OUT: LNG Contract Questions

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Remember, the General Meeting will be this Saturday at the Doubletree Hotel in San Antonio, 37 Northeast Loop 410 (at McCullough) about 2 miles southwest of SAT. Continental breakfast will be available 9:00 am, the meeting will start at 10:00 am and last until approximately 1:00 pm. There will be door prize drawings as well as 2 raffle drawings. Item 1. Sporty's JD-200 Transceiver ($400 value) Item 2. One hour trip in a Piper Meridian turbo-prop aircraft for 2. One up-front flying right seat if you like. ($500 value) To be confirmed You are also welcome to join the Board meeting to be held at the same location Friday 7:00 to 10:00 Come out to join your fellow pilots, board of directors and office staff and enjoy the day. thank you

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Saturday San Antonio Meeting