Yes, Gloal agrees.


From: Stephanie Sever/ENRON@enronXgate on 04/24/2001 03:28 PM
To: Tana Jones/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Karen 
Lambert/HOU/ECT@ECT
cc: Lisa Lees/ENRON@enronXgate, Tom Moran/ENRON@enronXgate 
Subject: FW: Product Type approval for 3 product types (Heating Oil Fin 
Options)

Tana/Kelly/Karen:

The product long descriptions below will fall under three new product types:  
   US HeatingOil2 Fin Opt
   US HeatingOil2 Fin Opt Call
 US HeatingOil2 Fin Opt Put
 
Credit (Tom Moran) has approved copying the profiles for the new product type 
from the following:

 US HeatingOil2 Fin Swap

Please respond no later than 10 a.m. on Wednesday, April 25.

Thank you.


 -----Original Message-----
From:  Moran, Tom  
Sent: Tuesday, April 24, 2001 3:04 PM
To: Sever, Stephanie
Subject: FW: Product Type approval for 3 product types (Heating Oil Fin 
Options)



 -----Original Message-----
From:  Moran, Tom  
Sent: Monday, April 23, 2001 1:11 PM
To: Lees, Lisa
Cc: Guidroz, Walter
Subject: FW: Product Type approval for 3 product types (Heating Oil Fin 
Options)

Lisa,

Please copy the existing counterparty profiles from: &US HeatingOil2 Fin 
Swap8 and use it for these three new products:

US HtOil Fin Opt Nymex HO   AP
US HeatOil2 Opt Nymex HO   EP
US HeatOil2 Opt Nymex HO   EC

Regards,
tm


 -----Original Message-----
From:  Walker, Chris  
Sent: Monday, April 23, 2001 11:12 AM
To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Moran, Tom; Swinney, 
John; Taylor, Mark
Cc: Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, Karen; Lombardi, 
Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Meredith, Kevin; 
Lozano, Melba; Hunter, Larry Joe; Cass, Robert B.
Subject: Product Type approval for 3 product types (Heating Oil Fin Options)

Your approval is needed for the following 3 product types in Datamanager:

US HeatingOil2 Fin Opt
US HeatingOil2 Fin Opt Call
US HeatingOil2 Fin Opt Put

Please do not approve between the hours of 6 am and 11 am.

US HtOil Fin Opt Nymex HO   AP 85.00           Dec01          c/GL-L

A financial Option Transaction with Enron North America Corp., under which 
the Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction. The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the Website in 
accordance with the unit of measure. The Premium shall equal the product of 
(i) the price submitted by Counterparty via the Website, multiplied by (ii) 
the Notional Quantity per Determination Period, multiplied by (iii) the 
number of Determination Periods during the Term of the Transaction. The 
Payment Date for the Premium shall be 2 business days after the Trade Date of 
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 
5 business days after the Cash Settlement Amount is determinable.  Where this 
Transaction is a Call Option, the Cash Settlement Amount shall be the greater 
of (i) zero, or (ii) the product of (a) the Notional Quantity per 
Determination Period, multiplied by (b) the Index minus the Strike Price. 
Where this Transaction is a Put Option, the Cash Settlement Amount shall be 
the greater of (i) zero, or (ii) the product of (a) the Notional Quantity per 
Determination Period, multiplied by (b) the Strike Price minus the Index.
The term of the Transaction shall be from the Effective Date of 01 Dec 2001 
to the Termination Date of 31 Dec 2001.
The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating Oil 
Contract during the applicable Determination Period. The Index for a 
Determination Period shall be the simple arithmetic average of the daily 
settlement prices of the prompt month NYMEX Heating Oil Futures Contract for 
each Trading Day during such Determination Period.
The price is quoted in cents (US) per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the volume is shown shall be 42,000 gallons 
per month.
The Option style and type shall be an Asian Put/Call. Automatic Exercise is 
Applicable.
The Strike Price for the Transaction shall be as set forth on the Website.

US HeatOil2 Opt Nymex HO   EP 85.00           Dec01          c/GL-L

A financial Option Transaction with Enron North America Corp., under which 
the Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction. The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the Website in 
accordance with the unit of measure. The Premium shall equal the product of 
(i) the price submitted by Counterparty via the Website, multiplied by (ii) 
the Notional Quantity per Determination Period, multiplied by (iii) the 
number of Determination Periods during the Term of the Transaction. The 
Payment Date for the Premium shall be 2 business days after the Trade Date of 
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 
5 business days after the Cash Settlement Amount is determinable. The Cash 
Settlement Amount shall be the greater of (i) zero, or (ii) the product of 
(a) the Notional Quantity per Determination Period, multiplied by (b) the 
Strike Price minus the Index
The term of the Transaction shall be from the Effective Date of 01 Dec  2001 
to the Termination Date of 31 Dec 2001. 
The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating Oil 
Options Contract for the applicable Determination Period. The Index for a 
Determination Period shall be the settlement price for the NYMEX Heating Oil 
Futures Contract for the applicable Determination Period on the expiration 
day of the NYMEX Heating Oil Options Contract for such Determination Period. 
The price is quoted in cents (US) per unit of volume, which will be the 
Contractual Currency. 
The unit of measure against which the volume is shown shall be 42,000 gallons 
per month.
The Option style and type shall be a European Put ("EP"). Automatic Exercise 
is Applicable.
The Strike Price for the Transaction shall be as set forth on the Website. 

US HeatOil2 Opt Nymex HO   EC 85.00           Dec01          c/GL-L

A financial Option Transaction with Enron North America Corp., under which 
the Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction. The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the Website in 
accordance with the unit of measure. The Premium shall equal the product of 
(i) the price submitted by Counterparty via the Website, multiplied by (ii) 
the Notional Quantity per Determination Period, multiplied by (iii) the 
number of Determination Periods during the Term of the Transaction. The 
Payment Date for the Premium shall be 2 business days after the Trade Date of 
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 
5 business days after the Cash Settlement Amount is determinable. The Cash 
Settlement Amount shall be the greater of (i) zero, or (ii) the product of 
(a) the Notional Quantity per Determination Period, multiplied by (b) the 
Index minus the Strike Price.
The term of the Transaction shall be from the Effective Date of 01 Dec  2001 
to the Termination Date of 31 Dec 2001. 
The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating Oil 
Options Contract for the applicable Determination Period. The Index for a 
Determination Period shall be the settlement price for the NYMEX Heating Oil 
Futures Contract for the applicable Determination Period on the expiration 
day of the NYMEX Heating Oil Options Contract for such Determination Period. 
The price is quoted in cents (US) per unit of volume, which will be the 
Contractual Currency. 
The unit of measure against which the volume is shown shall be 42,000 gallons 
per month.
The Option style and type shall be a European Call ("EC"). Automatic Exercise 
is Applicable.
The Strike Price for the Transaction shall be as set forth on the Website.

STEPS FOR APPROVAL:

click the  START button 
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD 
click the Enron Online Production Cluster "START" button  
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up 
TO APPROVE:  Right mouse click on "Approved"