Sounds like you should deny them from Commodity Logic.  Please let them 
Commodity Logic team know.

Bill





Jason R Williams@ENRON
01/09/2001 09:10 AM
To: William S Bradford/HOU/ECT@ECT
cc:  
Subject: Re: CommodityLogic - Credit Approval Request  


Bill -

Southwest Royalties' credit quality is extremely poor:  E-rating of 11, 
negative equity, very little liquidity and no bank lines available to them.  
We currently have 5 trades on the books with them (all financial) with a 
total net position ~$2.6 MM out of the money to Enron.

I would normally not move up the payment for this counterparty, but all of 
our trading with them has been limited to selling them financial puts.  As 
such, Enron will not incur any exposure to Southwest Royalties, and I feel 
that an earlier pay date can be justified from a credit standpoint.

Please let me know if you have any questions.


Jay


   
	
	
	From:  William S Bradford @ ECT                           01/08/2001 01:00 PM
	

To: Jason R Williams/NA/Enron@ENRON
cc: Debbie R Brackett/HOU/ECT@ECT, Douglas Fuehne/NA/Enron@ENRON 

Subject: CommodityLogic - Credit Approval Request

Jay,

Please review Southwest Royalties for our comfort with paying them earlier in 
the billing cycle.  Please keep in mind that our payable can be used as an 
offset against any MTM exposure.

Let me know.  Thanks,
Bill

---------------------- Forwarded by William S Bradford/HOU/ECT on 01/08/2001 
12:01 PM ---------------------------


Andrea Crump@ENRON
01/08/2001 10:29 AM
To: William S Bradford/HOU/ECT@ECT
cc: Debbie R Brackett/HOU/ECT@ECT, Deana Fortine/Corp/Enron@ENRON, Douglas 
Fuehne/NA/Enron@ENRON 
Subject: CommodityLogic - Credit Approval Request

Hello,

Please review the attached spreadsheet for credit review.  The customer 
requesting access to the Financial Management Module is Southwest Realities, 
Inc. (CPID - 2912).   Please reply with credit response to complete the 
application process.

Deana Fortine will be sending the credit requests from here on forward.  
Thank you!

Thank you for your help,
Andrea
Product Control Group - CommodityLogic
x54420