QUESTION: TP2 is buying Spinnaker gas (deal 632998) from Gulf 1 at Zone 2 IF (deal 657407). TP2 is selling the gas back to Gulf1 at IF plus variable cost (deal 657409) at St 45. It is my understanding that the transport commodity rate for gas from this well is $.02 plus fuel. SO, I just changed the price on deal 657409 from Z2 IF + .09 to Z2 IF + .045. We should see about $68,000.00 move from TP2 to Gulf 1.
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ANS: Spinnaker

QUESTION: I understand that Ashley Worthing has been hired by Enron to start work this summer. I think that she is graduating from Texas A&M. She is my cousin's daughter, so I am just curious whether or not she is coming in as an analyst. Please let me know if that is the case. Thanks.
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ANS: New Analyst

QUESTION: In order to provide better oversight and control of ENA legal expenditures on large transactions, please continue to follow the procedures set forth below for transactions where outside legal fees and expenses are expected to exceed $25,000.00. The purpose of these procedures is to (i) improve communication with counsel (inside and outside) on issues, fees and services and (ii) send price signals on legal costs (with respect to specific transactions) on a timely basis to the business units. Every effort should be made to continue to provide high quality legal work that has become standard at ENA. 1. A written estimate of proposed fees and expenses and a written description of the services shall be provided by our outside counsel. The responsible business unit and the General Counsel shall review and approve such written estimate before our outside counsel is directed to provide substantial professional services. 2. Our outside counsel shall be instructed to promptly submit a revised written estimate if such outside counsel determines that legal fees and expenses for such transaction will exceed the previous written estimate by $25,000.00. Such revised written estimate shall be reviewed and approved by the responsible business unit and the General Counsel or his/her designee before our outside counsel is directed to provide substantial additional professional services. 3. In order to accurately track such expenses so that the expenses can be properly allocated to the various business units, a work order number should be obtained for each transaction. Thank you for your cooperation. If you have any questions or any other suggestions for controlling expenses, please call me at extension 36544.
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ANS:
ENA Legal Expenditures