How about Tuesday at either 6:45 am or 2:15 pm my time.




David Redmond
08/25/2000 07:26 AM
To: John Arnold/HOU/ECT@ECT, Mike Maggi/Corp/Enron@Enron, John 
Disturnal/CAL/ECT@ECT
cc: Richard Lewis/LON/ECT@ECT, Peter Crilly/LON/ECT@ECT 
Subject: Long Term Volatility

John, Mike,

As you may know I recently moved from the Calgary office to the London 
office. The vol curve here is marked very similarly to the Nymex curve at the 
front but drops off to a much lower level at the back. Richard Lewis, who is 
in charge of UK Gas and Power trading, would like to discuss the rationale 
behind the longer end of the NG curves, both vol and price.

Could we all get on the phone sometime next week (Monday is a holiday here) 
perhaps before the open or shortly after the close? (The Nymex closes at 8pm 
UK time.)

Thanks,

Dave