Russell, 

Because it covers swaps, a financial lawyer needs to look at it.  Even when 
the primary exposure is physical.

Stacy



	Russell Diamond/ENRON@enronXgate
	05/01/2001 07:46 AM
		 
		 To: Stacy E Dickson/HOU/ECT@ECT
		 cc: Randy Otto/CAL/ECT@ECT
		 Subject: FW: Gulf Guarantee for Enron

Stacy,
Attached is a draft guaranty from Gulf Resources to cover physical 
transactions between their sub, Crestar Energy Marketing and ENA.  Can you 
please review this format and provide your comments.  The guaranty covers 
purchase/sale and swap transactions, although our primary exposure is only 
physical natural gas.  I am not sure if one of the financial attorney's needs 
to look at this too

Thanks
Russell


**Randy, Take a look at the guaranty and the types of transactions we have 
with this counterparty to understand the need for the guaranty.


 

 -----Original Message-----
From:  Rick_Miller@gulf.ca@ENRON 
[mailto:IMCEANOTES-Rick+5FMiller+40gulf+2Eca+40ENRON@ENRON.com] 
Sent: Monday, April 30, 2001 9:34 AM
To: Diamond, Russell
Subject: Gulf Guarantee for Enron

Russell:

I understand from Jeff McPhail of our marketing group that Enron is looking 
for
a parental guarantee from Gulf Canada for one of our subsidiaries - Crestar
Energy Marketing Corp.  (Jeff did not mention the subsidiary Enron was
requesting to have guaranteed).  I am enclosing a form of parental guarantee
that we have signed in the past.  Please review and call with any questions.

Thanks,

Rick Miller
Assistant Treasurer
403-233-3015


(See attached file: Enron Guarantee.doc)

******* End *******

 - Enron Guarantee.doc