IN: This is an email
David, I have a problem with the RAC comments made on page #2 of the DASH. Specifically, the two paragraphs basically add no value and just confuse the reader (ie) what is your opinion? Is this a good sale or can significant recovery (on a risk adjusted basis) occur if we convert the sub debt and infuse more equity? Are we not receiving enough value from the CFPC given the possible recovery of this sector? The DASH is deficient in its view of Basic's prospects given current energy prices. Jeff/Dick/Ray, what are your opinions? Independent of the desire to move on - what is the right call - I do not want to give value away in any divestiture or restructuring. Regards

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OUT: Basic

IN: This is an email
The Operational Analysis review is scheduled to begin the week of June 11, 2001 and is expected to take approximately six weeks to complete. The audit will be executed by Arthur Andersen and Enron Assurance Services and led by Gillian Boyer and Juan Camarillo. We will schedule an opening meeting with you the week of June 11, 2001 to discuss audit scope and any concerns or suggestions you may have. The objective of the audit will be to determine whether procedures and controls exercised over activities are adequate and operating effectively. Results of the audit will be discussed with you and other appropriate personnel both during the audit and at the audit closing meeting. We will endeavor to conduct this audit in a manner that will minimize interruption of your normal business activities and we look forward to working with you and your personnel. Please call me at x5-4554 if have any questions. Mechelle Atwood Director, Enron Assurance Services Enron Wholesale Services

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OUT: Operational Analysis Audit Notification

IN: This is an email
Geetings Kevin: Wanted to touch base to make sure that CNRL signs agency papers, preferably before we do the release on PGT's electronic board. Gerald Nemec is our attorney and he has put together language surrounding our responsibilities for other agency deals. As I understand, we will mangage all aspects of the transporation agreement which includes review of invoices and the ability to net transportation charges from the supply payment. Please advise if you need assistance from either Gerald or me in this regard. Thanks,

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OUT:
CNRL release