This is the content of an email: Pam, The term papers arrived at my Internet mailbox. I shall be sending you the information as I make progress reading the papers. First group of students: Helen Demianenko Javier Lamas Lynn Nazareth Shauywn Smith Carlos Wheelock Sarah Woody Grade: A Please, confirm receipt of this message and please double check that all registered students have been graded (to make sure no student falls through the cracks). Vince

Subject: Grades

This is the content of an email: Russell: Since late 1998, we have been trying to put in place a Master between ENA and the above counterparty. We currently have a Master dated July 1997 between ECC and Pancanadian Petroleum Limited and Pancanadian wants to pretty much duplicate this Master. Here are the credit terms of the late 1998 drfat that we sent them which I need for you to tell me are still okay: No Credit Support Providers Cross Default - $50,000,000 for ENA and $25,000,000 for them Additional Event of Default - occurrence of a MAC and the failure to provide Perfprmance Assurance in accordnace with annex A. MAC is defined as Enron's rating going below BBB- and their Net Worth falling below $133,000,000 opr their Funded Debt to Net Worth being more than 1 to 1 They want to defined the "control" concept in Affiliate as ownership of more than 50% of equity. This term is used in the Setoff language and limits the possible entities that could be Affiliates on our side and their side Forms of collateral are cash and LC's Collateral Thresholds are $10,000,000 for us and $3,500,000 for them Let me know what you think. Carol

Subject: Pancanadian Energy Services

This is the content of an email: I copied you on what I sent to Corp, but the attached file has more detail you might be interested in. Let me know if you would like to sit down this morning and go over it. Kerry

Subject: Cash Forecast

This is the content of an email: Leslie- We will cashout the imbalance with the two Koch entities in the following way: We owe Koch 11,885 mmbtu at $3.90/mmbtu, which equals $46,351.50. Koch owes us 13,639 mmbtu at $2.21/mmbtu and 11,720 mmbtu at $2.38/mmbtu, which equals $58,035.79. The net of these imbalances is $11,684.29 due to Enron. Let me know if you have any questions. I negotiated this with Scott Garrison at Koch. Thanks,
Subject: Koch imbalance cashout