IN: The Bankruptcy Court has approved our sale of the IM Project to AEP. The C= ourt's formal order will be entered sometime Friday morning. With this app= roval, we expect to close the sale either Friday or Saturday. Approval was= conditioned upon our agreement to the following procedures with respect to= the net sale proceeds (approximately $108mm): =20 =09-=09$25mm will be returned to Enron (repayment of the post-petition work= ing capital loans made to EW);=20 =09-=09$10mm will be retained by EW for working capital to use over the nex= t 2 weeks;=20 =09-=09$78mm (the remaining balance) will be set aside in a restricted acco= unt of EW, pending approval by the creditor's committee of the use of those= funds for payment of existing obligations and for ongoing working capital = by EW. =20 We have until 15 January to obtain creditors' committee approval for the us= e of the remaining balance, at which time if no approval is obtained, we ca= n ask the BK Court to rule on the matter. Obtaining creditors' committee a= pproval will require that we (a) demonstrate that the continued operation o= f EW as a going concern is in the bankruptcy estate's best interest (becaus= e it will enhance or at least maintain the value of EW for sale) - this dem= onstration will need to be made by Enron (Mark) and CSFB (Matt), and will n= eed to include an overview of EW's value on sale, including arguments why t= here is significant value in the EW - Americas business unit notwithstandin= g the short-term issues facing the US business, and an update on the sale p= rocess; and (b) demonstrate the legitimacy of EW's current obligations and = future working capital needs - this will need to be done by Umanoff and Wes= tbeld (we initially projected that we would need approximately $54mm of the= $78mm through the end of Q1, a likely closing date for sale of EW; Mike an= d his team will be scrubbing these numbers over the next week). We are tar= geting early in the week of Jan 7 to make our case to the creditors' commit= tee, although no firm date has been set. One final note - a representative of GE attended the BK court hearing and i= s aware that our request to use the remaining balance to pay our past due o= bligations (including $9mm owing to GE) was denied pending implementation o= f the above procedure. We can expect continued pressure from GE. Call me with any questions.

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OUT: Indian Mesa Sale - Bankruptcy Court Approval
IN: This is an email
Dear Mr. Kaminski, we met a few week ago in Houston (I was the previous speaker on modifications of Black-Scholes). As I mentioned, there were in your talk several issues in which I am interested in. I would be happy if you could send whatever related material you have: slides, papers, etc. At some point you mentioned also the possibility of sending some time series. It would be very interesting to have them and apply our pricing model to compare results. Thank you very much,

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OUT: qustion
QUESTION: Gerald - In your spare time! !, I need your help in locating a copy of the Hubbard Compression deal (restructured in June 2000) closing documents. Please let me know and I can come by to make a copy. Thanks, Lisa Druzbik
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ANS: Hubbard Restructuring - Closing Documents
Hi guys. We need to add the CES demand charges to the East Desk P&L. The impact to the desk is ($694,399). This includes the demand charge paid to CALP and the reimbursements for the Penn Fuel capacity. It does not include any demand charges paid to Dayton Power & Light. How are we accounting for that? The file is under o:/logistics/capacity/east/ne/ces/2000ces01.xls Use tab CES WHOLESALE. All the demand charges under CES RETAIL are reimbursed. I sure we are missing some things. Scott Goodell will be going through this worksheet tomorrow.
Q: What is a potential subject line for this email?
answer: CES Demand Charges
Dear Vince, In view of all the turmoil at your company these days, I thought that it might be a good idea to check in with you and confirm that you are still planning to come to campus on 11/15-11/16. We have you scheduled to present to students on 11/15 from 11-2, and on 11/16 to present a seminar to the finance faculty. We also have a room reserved for you at the Judge Baylor house in Waco for the evening of 11/15. Besides confirming your visit, I am wondering whether you would recommend that I have my students read any articles in preparation for your talk. Would it be okay for me to assign your paper with John Martin (forthcoming in the JACF) entitled "Transforming Enron Corporation - the Value of Active Management"? Also, would there be a seminar paper that I could distribute for the faculty seminar, or would you prefer to have more of a free flowing presentation along the lines of what you did for me during spring 2000 at LSU? Finally, if you want me to distribute any other materials to the students or faculty, please let me know. We are looking forward to your visit! Sincerely,
Answer: your upcoming visit
Q: CONFIDENTIAL AND LEGALLY PRIVILEGED Vicki Many thanks for your assistance yesterday. Clinton Energy Management Services, Inc. because it holds a current power marketing certificate is an entity which we would like to move to being a direct subsidiary of Enron Corp. to take effect today. This is considered to be an essential part of restructuring to meet our current and future needs. While the day to day control will remain where it is and all the efforts assign contracts and other work should progress as planned, since the value to Enron Corp. is the power marketing certificate nothing should be done to jeopardize this. In addition we will be changing the charter and will need copies of the existing charter to effect those changes required. Please call me if you need to discuss this further. Kind regards,
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A:
CONFIDENTIAL AND LEGALLY PRIVILEGED