I'll be glad to help you out from Enron's remote offices and while in Houston 
during the week of Sept. 27 - Oct.1.  Please note the following:

1.  I'll be in Enron's Sao Paulo and BA offices from Sept 20 - Sept. 24   AND
2.  I'll be on vacation from Oct. 2 - Oct. 9

You may need to contact me through my assistant Kaye Ellis (Ext. 35968) or 
one of the paralegals (try Marie Heard, Susan Bailey or Susan Flynn).   Sara




Anita Fam
09/16/99 08:52 PM
To: Sara Shackleton/HOU/ECT
cc: Matthias Lee/SIN/ECT, Angeline Poon/SIN/ECT 
Subject: Proposed Enron/Petron ISDA documentation

Hi Sara,

How are things with you, m'dear?  Have you any exotic destinations planned 
for this year's vacation?

Anyway - I'm planning to go on vacation with my family (yah - it's weird to 
say "family" now!)  to Perth from Thursday 23 September through to Saturday 3 
October and was wondering whether you could help 'babysit' the Petron 
matter.  Janice had mentioned that you'd done some due diligence on ISDA in 
the Philippines a year or so ago so I thought that you would probably be the 
most appropriate person to look after this matter in my absence.  Matt, who 
is a new attorney who joined us in the Singapore office last week, will also 
be keeping track of this file but he hasn't been fully 'Enronized' by Tana as 
yet (tho' he will be so before Thanksgiving as he'll be headed to Houston 
next month for a month's stint there) so I thought it best if you could be 
the main contact person for Petron as well as for our business folks during 
that week that I'm not around.  I really hope that you don't mind.

Assuming that you're OK with this, I would like to give your name and contact 
details to the Enron AP/A/CHI biz folks who are handling this - Manuel 
Gallego in the Philippines, Victor Santos who is presently relocating to 
Singapore and David Terlip to whom they report.  The traders in the Singapore 
office, John Chismar and Eng Wang Moi , will be providing the pricing.  Matt 
and my assistant, Angeline, will get hold of you should they hear from Petron 
during that week.  The plan is that Petron is interested in entering into 
some crack spread swaps with us.  So far, Citibank and Chase have signed up 
ISDAs with Petron.

In the meantime, I'll have Angeline fax to you copies of all the 
correspondence which I've had had with our Filipino counsel QTE to-date so 
that you'll get a good idea of what the regulatory and legal environment's 
like now in the Philippines. [Angeline - can you please do that today.  
Sara's fax no. is Houston Legal's fax no.]

So far, QTE has reviewed our draft ISDA Schedule and Credit Support Annex and 
I sent it across to Petron's inhouse counsel on 8 September (please see 
attached) and I'm now waiting for their written comments on those drafts.  

Please let me know whether you'll be able to look after this matter for me.  
Looking forward to hearing from you.

Thanks a mill,
Anita

 
---------------------- Forwarded by Anita Fam/SIN/ECT on 09/17/99 09:31 AM 
---------------------------


Anita Fam
09/08/99 11:28 AM
To: lamaglaya@petron.com
cc: wgrodriguez@petron.com, jlventigan@petron.com, Manuel 
Gallego/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Victor 
Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David A 
Terlip/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janine Juggins/LON/ECT, Stephen H 
Douglas/HOU/ECT@ECT, Matthew Nimmo/LON/ECT@ECT, John Chismar/SIN/ECT@ENRON, 
Wang Moi Eng/SIN/ECT, Janice Moore/HOU/ECT, Angeline Poon/SIN/ECT, Matthias 
Lee/SIN/ECT 
Subject: Proposed Enron/Petron ISDA documentation

Dear Luis,

I am the Senior Legal Counsel for Enron  based in Singapore and have been 
requested by my colleague, Manuel Gallego, to forward to you our proposed 
draft ISDA documentation for your review.  The attached documents are as 
follows:

our draft ISDA schedule (draft dated 7 September 1999) attached as 
petron-isda (7Sept99).doc
our draft ISDA Credit Support Annex (draft dated 6 September 1999) attached 
as petron-cs (6Sept99).doc
our form of legal opinion to be issued by your external legal counsel (draft 
dated 6 September 1999) attached as petron-isda (ext opn) (6Sept99).doc

Please note that the attached documents are in draft and are for discussion 
only and are as such open to any further changes which may be proposed by 
ourselves or our external legal counsel.

I would be most grateful if you could review the attached and thereafter let 
me have your written response to the same.  You may either e-mail your 
response to me at Anita.Fam@enron.com or fax me in Singapore at +65 
734-2868.   Should you wish to call me, my phone number in Singapore is +65 
838-9038. 

I look forward to hearing from you shortly.

With kind regards,
Anita Fam
Senior Legal Counsel




Enron Capital & Trade Resources Singapore Pte Ltd