Subject: "West".

Body: We have just decided to divide the western region into two groups. I will be heading up the Rockies/NW and Northern California, while Phillip Allen heads up the Southwest and Southern California. Think about whether or not you would like to change how you serve our groups going forward. We will need to divide the curve files to reflect the separate regions. The Southwest will be defined as EP SJ and EP Permian. P&L summary reports will be separated into two groups. Grigsby Jason Wolfe Frank Ermis Steve South Jay Reitmeyer Allen Jane Tholt Matt Lenhart Matt Smith Keith Holst Thanks

Subject: "Employee retainment".

Body: Dear Greg, I appreciate you coming down to the gas floor and providing us some information about what is going on. One of the questions that kept getting asked had to do with who will be retained, and what we will be paid when we are retained. We were told that star performers will be retained. At what profit level do we become star performers? I understand you and your staff have a tremendous number of things that need to be accomplished. As I talk with my peers, the most important thing on our minds is if we will have a job and what we will be paid. John was saying that in a few months this issue would be addressed. My immediate concern is to secure employment while there are still positions available with other companies. I will accept the first lucrative offer that is made to me. My peers have expressed the same sentiment. In a few months, there may not be any jobs left. We have to may hay while the sun shines. We all have been bombarded with calls from executive search firms. We are all racing for a limited number of jobs that promise substantially higher salaries. What we need on this floor is some assurances. Maybe it should be in the form of granting bonuses now and offering employment contracts. We need some exact numbers in the form of dates, salaries, and bonus plans. Scott Neal brought up this same question several times and John said he understood how critical this situation is. If there are only trader track personnel left to run this company, will Dynegy still be interested? Getting a bonus this year that reflects the work I put in is critical. It is no where near as critical the issue of making sure my children have food on the table. I do not have two months to wait to find out that the compensation I will be offered ends up being less than what a third party is willing to pay, or the bonus program is a based on a amount to appease me when I may have passed up a percentage deal. Please sense the urgency that my peers and I are feeling. Tom Donohoe

Subject: "Energy Executive Committee".

Body: Vince, As you have seen in the write-ups I have been sending you, we have established the Energy Markets Institute here to provide a world class recruitment, specialized training, and research resource for the energy industry. The clear challenge now is to deliver on this as expeditiously as possible, and we need help and input from industry leaders. We have set up an Energy Executive Committee to work with us on making this a valuable resource for the industry. So far, Bruce Williamson (CEO, Duke Energy Global Markets), Gerald McElvey (Upstrean Controller, ExxonMobil), Fran Keeth (Exec. VP, Shell Oil), Donna Pedersen-McGinnis (VP, Dynegy), Bruce Sukaly (Sr. VP, Cinergy), Bob Peebler (Retired, Halliburton) have agreed to be on the committee. The committee is being put together by Lane Sloan (Retired, Shell Oil). Both Lane and I very much want to have your input. Enron is a leading energy firm (and from my perspective, it is the future of the industry). So we would like Enron to be represented, and I personally would be delighted and gratified to have your advice and evaluation. We plan to organize subcommittees dealing with Education, Research, and Trading---so it

Subject: "Sup?".

Body:
G, How was the trip to Longhorn Country? Hawks won big. We might have a decent team this year. Do I have any mail over at your place? I was expecting something from W. last week. R Ryan F. Ruppert Geologist Saudi Arabia Gas Resources ExxonMobil Development Co. GPP3-389 P.O. Box 4778 Houston, Texas 77210