Problem: BODY: The state of Texas conducted an air quality inspection of the NNG Seminole C/S. There were no deficiencies or violations identified at the facilit during the inspection. The State of New Mexico Air Quality Bureau conducted an inspection of the Transwestern Atoka No. 3 C/S. The Agency conducted a record review and did portable emissions testing of 3 of the 5 emissions units at the facility. Although fuel use and a natural gas analysis were not available for the units tested, emissions exceedances for NOx are expected for the 2 White Superiors at the facility. The State of New Mexico Air Quality Buureau conducted an inspection of the Transwestern Atoka No. 2 C/S. The agency conducted a portable emissions testing of the two turbines and one recip at the facility. Although fuel use and a natural gas analysis was not available at the facility, all units tested appeared to be in compliance with the permit limits. The agency requested sulfur readings from the fuel gas as required under Subpart GG NSPS for the last twelve months. The Artesia team has contacted Gas Control in Houston for the for the monthly sulfur values at the facility.
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A: SUBJECT: Environmental Activity Report-Roswell Area

Problem: BODY: Jordan, Attached is the latest structure. This is still subject to change as AA has not yet approved. The deal basically involves creating a new entity to take ownership of 2 existing Electric Compressor Motor Drivers and associated contracts which ECT currently owns. The compressor motor drivers are supplied with electricity from the Navajo Tribal Utiltity Authority (NTUA). ECT sells horsepower created by the motor drivers to Transwestern in exchange for $$ and MMBtus. Lance Schuler will be working the finance portion of this project. This is a 2nd Quarter deal. Would you expect anything less? Please let me know who will be working on this from your group or call to discuss any questions. Thanks.
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A: SUBJECT: Structure

Problem: BODY: Summary Risk Data as of 11/14/2001 Active Financial Deals 83 Active Physical Positions 38 P&L Daily ($thousands) 10.8 VaR ($thousands) 137.7 ETS Margin Account Deals 0 Physical deals modeled in the Caminus Zainet system are deals which have some form of price risk, (i.e. Index to index deals, and anticipated fuel sales) This does not include standard transport or storage agreements. P&L Daily: Daily change in the mark-to-market (MTM) valuation of all deals being tracked in the Caminus Zainet system. This includes the origination and changes in value for both the physical and financial sides of hedges, along with any speculative trades and floating unhedged physical positions. VaR is "Value at Risk": Enron Corp policy defines this as the maximum expected one day loss on the portfolio given a 95% statistical confidence interval. This number is currently calculated on the Caminus system using a variance covariance methodology, rather than a Monte Carlo simulation per the Enron Corp policy. More detailed reports are available from the Caminus Zainet risk management system. Please call Vince Strohmeyer at 713.853.6701 with any questions you may have.
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A:
SUBJECT: Daily Summary of Risk Data