Russell, Please review the attached draft of the draft Enfolio Master Firm Purchase/Sale Agreement which has been drafted based on Exxon's comments as necessary changes before they will allow the Mobil plant to schedule gas under the terms of the October 1, 1995 Agreement. I have merely incorporated the credit language that was used in the October 1, 1995 agreement into this agreement and have attempted to make the other changes that Exxon was requesting. Question, is the parent company still Mobil Corp. for the purposes of the MAC. Do you still agree with the prior credit requirements as provided in the October 1, 1995 agreement, and if not, please provide me with your updated requirements as early as possible this morning so that I can incorporate into the agreement prior to presenting it to them for further negotiation later today. Lee, Please review the attached so that we can discuss which of their changes have been made, which we did not make and the reasons therefor. The quick points being: sentence at end of 2.3 which takes the place of their items 1-4; $0.15 to $0.05 in 3.2 and 3.4; item (iii) in 4.2 per their request #5 except I changes 30 business days to simply 30 days; I did not give them their request #6 except I did incorporate the last two sentences of their request; I attempted to give them all of their requested #7 except I reworded slightly for balance and the items we previously discussed; did not do request #8 because we will incorporate that in the Transaction Agreement; gave them their request #9, gave them their request #10 except I left in the "as is, where is" and the line they omitted when they retyped; did not do their item #11, added section 8.9 for termination of prior agreement; added their items #12 and #13 but modified as we discussed; otherwise I updated the contract and changed references for Buyer's Transporter to simply Company. Anything else? .
Answer: Mobil Oil Corporation Master Enfolio Agreement
Harry, Iris and Brandon: I asked ConEd if they were prepared to hear our OFFER to buy peaking capacity from the Lakewood expansion. They are "in the midst of preparing a draft term sheet for purchasing the output/tolling" so we'll have to wait to see the parameters of sale. I also asked if they would like to see PJM WEST synthetic toll offer from us. Unfortunately, NO. To the extent it matters, the on-line date is now set for late 2002, so they would like to see our offer for a Jan '03 start date. Given that these guys are doing a real comparison against bricks and mortar, we would be looking at a $63 million option premium for 500MW @ 3.50/KW-mo over a three-year term; $84 million for a four-year term, I would hope we could be able to find a way to hedge the risk of too many $500 hours killing us. Is there any cap we could buy to protect our downside risk here and still make this deal attractive? The heat rate call is struck at 10,900!
Answer: ConEd Lakewood Deal (PJM East)
Jeff: On our conference call on the SATO MoU a week back I promised to send you the DASH and press release on the 50:50 Swiss trading JV Enron Europe has recently put in place with the Swiss municipal power company EWZ. Note the DASH is draft only. Interesting precedent. Regards - Jeremy
Answer: SATO: Enron Europe Trading JV
Attention Outlook User: You are receiving this message to alert you that at 7:30 p.m. CST, Monday, November 12th, the Exchange server that your mail file resides on will be taken down for emergency maintenance for approximately one half hour. During this outage, access to your Outlook client including email , calendar , contacts and public folders will be unavailable. In addition, access to your email via OWA (Outlook Web Access) will also be unavailable. Messages intended for delivery will be queued and delivered once the server is back online. If you need additional assistance, please call the resolution center at 3-1411. We apologize for the late notice and appreciate your continued support. Thanks,
Answer:
NOTIFICATION: Emergency Exchange Server Maintenance