Subject: "PG&E Master".

Body: Jeff, did Mark H. sign off on us removing triangular set-off between affiliated entities. We have removed the concept as instructed by Barry, but do not want to send to PG&E unless we have Mark's OK. Also, Eric/Barry you were going to canvass Bill in terms of what he would require for Credit. Peter.

Subject: "Pluto Contract Binder".

Body: Louis DiCarlo called and needed the binder back on the Pluto contracts. He said you had given them your opinion so he thought you were through with them. He needed them returned and so I gave them to him. There was a memo sitting on top of the binder but I did not give it to him. It is still on your bookcase. Hope it was okay. Rae

Subject: "Dr. Schnieder".

Body: Hi Keith, Please continue with the supplements. We will have to have your mom pick them up and mail them to you. Give her a call and I will get them ready. Thanks,

Subject: "Bammel Storage Cushion Gas Issue.".

Body:
Jim, I can assure you that neither John or myself are trying to attract blame or "cover our backsides"; however, I do believe that there is/was a genuine breakdown in communication somewhere in the deal team, accounting and the desk. As well, it appears that this is not completely a black and white issue and can legitimately attract a number of points of view. As executives of this company, you, Brian, Tim and Tom absolutely were responsible to ensure that all aspects of this transaction are managed correctly. Nevertheless, I think it is amazing we have not had more problems with this divestment given the size, complexity, time and how intertwined it is into the overall framework of ENA. I appreciate your candor and the unselfish maturity to bring to the trading floor. I look forward to working with you as we continue to build our Texas and gas business. Regards