The fact that these contracts are in the name of ENA really changes things.  Could you conduct a review (or delegate this responsibility to someone working on the bankruptcy stuff) of the relevant contracts for this transaction to determine what impact the bankruptcy of ENA has had?  Thanks

Stuart


 -----Original Message-----
From: 	Knippa, Mark  
Sent:	Tuesday, December 11, 2001 2:28 PM
To:	Zisman, Stuart; Gruesen, Karen; Coffey Jr., Jim
Cc:	Knippa, Mark
Subject:	Hubbard Transaction


	I've completed a review of the ENA Hubbard transaction that provides Compression Services to NNG.  
	Note that this is contracted as ENA and not ECS.  Gerald communicated that the previous agreement
	with Hubbard was executed as an ENA contract or assigned from ECT to ENA.  

	My short term objective is to gather and submit the required information to the Corp. Cash Management
	committee and get the delinquent power bills paid and brought up to date.  Currently we have Oct. and
	Nov. bills form Midland Power Cooperative & I've confirmed that ENA/ECS has received payments for
	Oct. from NNG that account for $64,508 (Annual Charge) and $37,493 (electrical on-peak billing I assume)
	for a total of $102,001.99.  

	I gathered up the cash flow projections for the project and provided a summary version to Stuart.  Oct. business
	projected a monthly load equivalent to an $81,000 electric bill versus the $90,148 actual.  He wants us to pull
	actual billing for the months beginning with this contract term (July 1, 2000) through November 2001 and 
	represent actual income to date and projection income from that point.  

	I'll expect that we will need the same process for the TW transactions at Gallup, Bisti and Bloomfield to 
	get these bills paid despite the LLC structure that houses the accrual business.  I was under the 
	impression that this information, billing and reimbursements was being tracked by first Carol Carter and
	then her predecessors.  I helped set up excel files that they updated monthly for both power billing and
	gas nominations to satisfy the contract specifics.  This would house all the information that is being 
	requested.  

	I also noticed that I was not seeing the scheduled monthly Maintenance payments being made to NNG.
	The contract also defines that ENA is paying NNG $320,000 annually at the end of July for the on-peak
	power charges from Midland Power.  

	 mk