Spreadsheet: david_delainey__8081__MP082800-DD
Sheet: Wish List

ENA PROJECT RAPTOR I & II
 |  |  |  | [NAME]
 |  |  |  | Value | ENA |  | [NAME] |  | ENA | Gross |  |  |  | ENA, Net | [NAME] | [NAME] |  |  | Chewco SLP* |  |  |  |  |  |  | ENA | Gross |  | [NAME] | [NAME]
 |  |  | Stk | 8/3/00 | Sharing | Funding | Value |  | Potential | Potential |  |  |  | Chewco SLP** | Value, net | Value, net |  | Chewco SLP* | Exposure |  | ENA B/S | ENA BS |  |  | Chewco SLP* | Potential | Potential |  | Value, net | Value, net
 | Group | Timing | Price | 8/28/00 | Ratio | Vehicle |  |  | +/- | +/- |  |  |  | Exposure | of +/- | of +/- |  | +/- | b/f Write-down |  | % | $ |  |  | +/- | +/- | +/- |  | of +/- | of +/-
Write-Up
Catalytica |  |  |  | 46314000 | 1 | ENA B/S
Invasion Energy |  |  |  |  | 1 | ENA B/S |  |  |  | 4600000
HV Marine Warrants |  |  |  |  | 0.75 | [NAME]
Venoco |  |  |  |  | 0.625 | [NAME]
Juniper |  |  |  |  | 0.625 | [NAME]
[NAME] |  |  |  |  | 0.675 | [NAME] |  |  |  | 190000
LSI Warrants |  |  |  |  | 0.75 | [NAME]
Texland |  |  |  |  | 0.625 | [NAME]
Geo. Pursuit (EBGB) |  |  |  |  | 0.5 | [NAME]
Active Power |  |  | 53 |  | 1 | ENA B/S
Write-Down
[NAME] |  |  |  |  | 1 | ENA B/S
Canfibre SubDebt |  |  |  |  | 1 | ENA B/S
Kafus Equity-Related |  |  |  |  | 1 | ENA B/S
Kafus Parent Debt |  |  |  |  | 1 | ENA B/S
Ecogas Debt & Equity |  |  |  |  | 1 | ENA B/S |  |  |  | -39333456
[NAME] |  |  |  |  | 0.625 | [NAME]
[NAME] |  |  |  |  | 1 | ENA B/S |  |  |  | -6616714
Sierra Well Service |  |  |  |  | 0.5 | [NAME]
Hughes Rawls Loan |  |  |  |  | 1 | ENA B/S
Hughes Rawls Note |  |  |  |  | 0.6 | JEDI*
Ameritex |  |  |  |  | 0.6 | JEDI*
Heartland Common |  |  |  | 27885652.93 | 1 | ENA B/S
Heartland Common (Condor) |  |  |  | 14753533.27 | 1 | Condor |  |  |  | 0
Heartland Warrants |  |  |  |  | 1 | ENA B/S
Heartland Loan |  |  |  |  | 1 | ENA B/S
Papier Masson Valuation Adjustment |  |  |  |  | 1 | ENA B/S |  |  |  | -5000000 | Suggested W/D; Not in Raptor
Bonne Terre Valuation Adjustment |  |  |  |  | 0.625 | [NAME] |  |  |  | -12286953 | Suggested W/D; Not in Raptor
Jupiter Equity Valuation Adjustment |  |  |  | 3508316 | 0.625 | [NAME] |  |  |  | -2500000 | Suggested W/D; Not in Raptor
Cline Coal Valuation Adjustment |  |  |  | 23833407 | 0.625 | [NAME] |  |  |  | -9133451 | Suggested W/D; Not in Raptor
American Coal TRS |  |  |  | 110000000 | 1 | ENA B/S |  |  |  |  | Elimination of FV from TRS net of Reserve
Merlin Credit Derivative Premium |  |  |  | 10000000 | 1 | ENA B/S
Merlin CLO Equity Option |  |  |  |  | 1 | ENA B/S
Kafus Loss Incurred (from 8/1) |  |  |  |  | 1 | ENA B/S |  |  |  |  | Already Incurred
Kafus 7/1 to 7/31 |  |  |  |  | 1 | ENA B/S |  |  |  |  | Already Incurred
First World QTD |  |  |  |  | 1 | ENA B/S |  |  |  |  | Already Incurred
Hanover |  |  |  |  | 0.6 | JEDI* |  |  |  |  | Already Incurred
Other Public Shares |  |  |  |  | 1 | Various |  |  |  |  | Already Incurred
Net (Write Down)/Write Up in 3rd Quarter
Net (Write Down)/Write Up in 3rd Quarter + Mariner
Utiliquest |  |  |  | 16060625 | 0.625 | [NAME] |  |  |  |  | $60mm equity value
Mariner Equity |  |  |  | 160237812 | 0.6 | JEDI*
Mariner Warrants |  |  |  | 17939594.49936628 | 1 | ENA B/S
Mariner SLP (Earnings Allocation) |  |  |  | 0 | 1 | ENE B/S |  |  |  | 0
Net (Write Down)/Write Up in 4th Quarter
Raptor I |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Most Likely
Catalytica | Donahue |  |  |  | 1 | ENA B/S |  |  |  | -25000000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Invasion Energy | Canada |  |  |  | 1 | ENA B/S |  |  |  | -1000000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Active Power | Donahue |  |  |  | 1 | ENA B/S |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
HV Marine Warrants | Lydecker |  |  |  | 0.75 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.5 |  |  |  |  |  | 0
Venoco | Lydecker |  |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Ecogas Debt and Equity | [NAME] |  |  |  | 1 | ENA B/S
[NAME] | Lydecker |  |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
 | Restructuring |  |  |  | 1 | ENA B/S |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
[NAME] Derivative | Restructuring |  |  | 88690031.36775172 | 1 | Merlin |  |  |  | -60000000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -60000000
Heartland Common | Lydecker | Q1/Q2 - 2001 |  |  | 1 | ENA B/S
Heartland Common (Condor) | Lydecker | Q1/Q2 - 2001 |  |  | 1 | Condor
Heartland Warrants | Lydecker | Q1/Q2 - 2001 |  |  | 1 | ENA B/S
Heartland Loan | Lydecker | Q1/Q2 - 2001 |  |  | 1 | ENA B/S |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Juniper | Pruett | Q2 -2001 |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Juniper Exposure | Pruett | Q2 -2001 |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Texland | Pruett | Q3/Q4 - 2001 |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Texland Exposure | Pruett | Q3/Q4 - 2001 |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Hughes Rawls Loan | Lydecker | Q3/Q4 - 2000 |  |  | 1 | ENA B/S |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Hughes Rawls Note | Lydecker | Q3/Q4 - 2000 |  |  | 0.6 | JEDI* |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.6 |  |  |  |  |  | 0
Industrial Holdings | Lydecker | Q1/Q2 - 2001 |  | 7121810 | 0.5 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Sierra Well Service | Lydecker | Q3/Q4 - 2000 |  |  | 0.5 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25
Ameritex | Pruett | Q1/Q2 - 2001 |  |  | 0.6 | JEDI* |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.6 |  |  |  |  |  | 0
[NAME] | Lydecker |  |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25
Inland Common | Lydecker | Q1/Q2 - 2001 |  |  | 0.5 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Queen Sands Common | Lydecker |  |  |  | 0.6 | JEDI* |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6
Carrizo Warrants |  |  |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25
3TEC Warrants |  |  |  |  | 0.6 | JEDI*
Brigham Warrants | Lydecker |  |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25
[NAME] |  |  |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Black Bay | Lydecker |  |  |  | 0.675 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.35 |  |  |  |  |  | 0
City Forest IPC | Lydecker | Q1/Q2 - 2001 |  |  | 1 | ENA B/S |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Geo. Pursuit (EBGB) | Lydecker |  |  |  | 0.5 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
[NAME] | Lydecker |  |  |  | 0.675 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.35 |  |  |  |  |  | 0
IGP | Lydecker | Q3/Q4 - 2000 |  |  | 1 | ENA B/S
Bonus Resources Common |  |  |  |  | 0.5 | [NAME]
Paradigm Common |  |  |  |  | 0.5 | [NAME]
Tetonka Drilling Common |  |  |  |  | 0.5 | [NAME]
Quicksilver Common | Lydecker | Q3/Q4 - 2000 |  |  | 0.6 | JEDI*
WB Oil & Gas |  |  |  |  | 1 | ENA B/S
Beau Canada Common | Canada |  |  |  | 0.6 | JEDI*
Place Resources |  |  |  | 1237700 | 0.6 | JEDI*
LSI Preferred | Lydecker | Q3/Q4 - 2000 |  |  | 0.75 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.5 |  |  |  |  |  | 0
LSI Warrants | Lydecker | Q3/Q4 - 2000 |  |  | 0.75 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.5 |  |  |  |  |  | 0
SLP Exposure |  |  |  |  | 1 | ENE B/S
Total Raptor I
Raptor II
Mariner Equity | Donahue |  |  |  | 0.6 | JEDI*
Mariner Warrants | Donahue |  |  |  | 1 | ENA B/S
Utiliquest | PI - Miller |  |  |  | 0.625 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Cgas | Pruett | Q1 - 2001 |  |  | 0.6 | JEDI* |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Cypress | Pruett | Q1/Q2 - 2001 |  |  | 1 | ENA B/S
Linder | Lydecker | Q3/Q4 - 2000 |  |  | 0.625 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.25 |  |  |  |  |  | 0
Vastar | Pruett |  |  |  | 0.5 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  | 0
Vastar Exposure | Pruett |  |  |  | 0.5 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  | 0
Syntroleum | PI - Miller |  |  | 4077000 | 1 | ENA B/S |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Inland | Lydecker | Q1/Q2 - 2001 |  | 5102616 | 0.5 | [NAME] |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  | 0
[NAME] | Lydecker | Q1/Q2 - 2001 |  |  | 1 | ENA B/S |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
Hancock | Lydecker | Q1/Q2 - 2001 |  |  | 1 | ENA B/S |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0
SLP Exposure |  |  |  |  | 1 | ENE B/S
Total Raptor II
Remaining Portfolio
Merlin BB |  |  |  | 40200000 | 1 | Condor |  |  |  |  | Covered by Credit Derivative
Canadian Publics (Startech & Cypress) | Canada |  |  |  | 1 | ENA B/S
[NAME] | Pruett | Q3/Q4 - 2001 |  |  | 0.625 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.25
Papier Masson Canada | Industrial |  | 0.4284273881345484 |  | 1 | ENA B/S
Papier [NAME] | Industrial |  | 0.5715726118654516 |  | 1 | ENA B/S
Hanover | Donahue |  |  |  | 0.6 | JEDI*
Aspect Resources ORRI | Pruett | Self liquidating |  |  | 0.5 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0
NG Resources Equity |  |  |  |  | 0.75 | [NAME]
Sapphire Bay Independent |  | Self liquidating |  |  | 0.75 | [NAME]
Mariner Combined Debt | Donahue |  |  |  | 1 | ENA B/S
Enserco Offshore | Lydecker |  |  |  | 0.5 | [NAME]
LSI Debt II Bridge Loan |  |  |  |  | 0.75 | [NAME] |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.5
Ridgelake ORRI | Pruett | Self liquidating |  |  | 1 | ENA B/S |  |  | 0 | 0
Pure Resources | Pruett |  |  |  | 0.6 | JEDI* |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  | 0.6 |  |  |  |  |  | 0
Tenaska Step 1 | Duran |  |  |  | 1 | ENA B/S
MCN TRS | Duran |  |  |  | 1 | ENA B/S
Tenaska TRS | Duran |  |  |  | 1 | ENA B/S
East Coast Power Common | Duran |  |  |  | 0.5 | [NAME]
East Coast Power Loan | Duran |  |  |  | 1 | ENA B/S
Las Vegas Cogen Debt Equity | Calger |  |  |  | 0.75 | [NAME]
Big Horn (PG&E) | Calger |  |  |  | 1 | ENA B/S
Pioneer Chlor (Cactus) Debt Equity |  |  |  |  | 0.75 | [NAME]
Las Vegas Cogen Equity | Calger |  |  |  | 0.75 | [NAME]
Encorp | PI - Miller |  |  |  | 1 | ENA B/S
Power Systems MFG | PI - Miller |  |  |  | 1 | ENA B/S
Metering Technology Corp | PI - Miller |  |  |  | 1 | ENA B/S
First World | PI - Miller |  |  |  | 1 | ENA B/S
Destec | PI - Miller |  |  |  | 1 | ENA B/S
City Forest Energy Advisory |  |  |  |  | 1 | ENA B/S |  |  |  | 0
[NAME] |  |  |  |  | 1 | ENA B/S
Swift VPP Unwind |  |  |  |  | 1 | ENA B/S
Alpine Natural Gas Preferred |  |  |  |  | 1 | ENA B/S
Alpine Natural Gas Warrants |  |  |  |  | 1 | ENA B/S
COAL ASSETS
Portfolio:
Cline Resources Equity/IPC's post W/D | Coal |  |  |  | 0.625 | [NAME]
Cline Resources - Dakota B | Coal |  |  | 774320.6281106855 | 0.625 | [NAME]
Cline Resources - Panther B | Coal |  |  | 2990173.962973114 | 0.625 | [NAME]
Cline Resources - Remington | Coal |  |  | 779769.405579358 | 0.625 | [NAME]
Black Mountain Equity | Coal |  |  | 9282517 | 0.75 | [NAME]
Black Mountain Mktg Fees | Coal |  |  | 2391000 | 1 | ENA B/S
Jupiter Equity post W/D | Coal |  |  |  | 0.625 | [NAME]
Jupiter Loan |  |  |  | 756483.44 | 0.625 | [NAME]
**Enron Corp. has an additional 36.12% exposure through its ownership of the Chewco SLP.