Carol:  Hope all is well.  We are missing you every day.

(1)  On a "swap" related note, we have a Canadian party requesting the 
ability to post cash collateral to ENA.  Can you recall where we left off on 
the issue?  I seem to  remember conflicting advice (Peter's insistence upon 
the Stikeman memo and ENA simply not agreeing to accept cash) and uncertainty 
as to how ENA could perfect its interest and what law governs (in cash held 
in a U.S. account).

(2)  On a "credit" related note, I was forwarded the 7/24/00 Margin Exception 
Report (originally sent to your attention).  What were you doing to follow up 
on this report?  Yesterday, Mary gave me a copy of a "collateral letter" 
being sent by Molly Harris.  Did you speak with Mary about working on this 
project in your absence?

Edward Ondarza is moving to EBS.   Stephanie Panus starts on Monday.  That's 
all the news for now.
 
Talk to you soon.  Sara

P.S.  Can you send photos over the net?