This is the content of an email: Real time desk is short 5 mw HE 1-24 on Saturday 7/14 thru Monday 7/16 at Hot Springs to Cenex (a middle marketing customer in MPC control area.) This power can be filled with the Frontier Energy if you chose and give them prevailing Mid C price . If you fill it with the Frontier just use the account number for MPCO that is in the Frontier sheet when you call BPA. If not pruchase this power at Hot Springs as I have told Cenex we will be delivering it there. In any event Real Time MUST CALL MPCO AND INFORM THEM AS SOON AS YOU KNOW WHERE YOU ARE FILLING THIS FROM. I have already discussed this with Mike at MPC and they are aware that we are purchasing on behalf of Cenex but you still must call. We are short at the follwing prices: 7/14 Short 5MW at $55 HE 1-24 7/15 Short 5MW at $50 HE 1-24 7/16 Short 5MW at $60 HE 1-24 If you have any questions please feel free to call me on my cell.

Subject: Short at Hot Springs 7/14 thru 7/16

This is the content of an email: Dear Jeff: I learned about your decision to resign from the CEO role at Enron. As a McKinsey alum who has watched you transform Enron from a pipeline operator to the world's foremost energy/trading company, it is hard for me to imagine Enron without you. Enron's strategies based on 'options thinking' and investments in growth options inspired my work on 'real options' which turned out to be the winner in McKinsey's worldwide Practice Olympics in 1995 (thought you might like a copy of an offshoot). I left McKinsey to join Morgan Stanley in 1997 and I am currently running KnowledgeCube, a venture capital firm with a couple of McKinsey alums such as Ali Hanna (Stamford) and some classmates from MIT. Our Advisors include the Heads of Entrepreneurship at MIT, Stanford, Harvard, CMU and Cornell. Our investors include Rajat Gupta of McKinsey, the CEO Hughes Networks and MDs from institutions such as AIG and CSFB. KnowledgeCube has just launched a $150M Energy Fund which would invest in IT companies that seek to enhance the productivity of the energy sector. We have partnered with some folks with global relationships and knowledge of the space including Lord Cecil Parkinson (Energy Secretary of UK). I was wondering if I could persuade you to be a part of the KnowledgeCube network as a Lead Partner, Advisor or Investor. I will arrange to send some more information on KnowledgeCube and the proposed Energy Fund to your home address if that is OK with you. I look forward to hearing from you. Regards,

Subject: McKinsey alums/Energy Fund

This is the content of an email: Greg Whalley has requested a Trader's Meeting tomorrow morning @ 7:45 a.m. (CST). The meeting will be held in his office, ECS 06752. The dial-in number for Portland and Calgary is listed below.

Subject: Trader Meeting - 2/7 @ 7:45 a.m. (CST) - ECS 06752

This is the content of an email: Susan: I have marked up the amendment. On the CSA, I think we should just attach new collateral provisions which I have drafted and am enclosing with this e-mail. Could you please ask taffy to do a comparison of the new and old? I've attached both. Carol
Subject: Torch