Hi Kevin ,

We have one last change, that I have made in blue below. 

Thanks.


   
	
	
	From:  Kevin Meredith                           02/26/2001 03:21 PM
	

To: Mark Taylor/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT, Tom Moran/HOU/ECT@ECT, 
Bjorn Hagelmann/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT, Errol 
McLaughlin/Corp/Enron@ENRON
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana 
Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, 
Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey 
Moorer/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, 
Chris Walker/HOU/ECT@ECT, Savita Puthigai/NA/Enron@Enron, Jennifer 
deBoisblanc Denny/HOU/ECT@ECT 

Subject: US Gas Spread - Please approve

REVISED REQUEST:
Your review and approval of the following product type in the EOL Datamanager 
is needed (for directions on approval , please see steps for approval at the 
bottom of this e-mail)

Trader :  John Arnold

US Gas Spread Nymex  Mar01 vs. Apr01 USD/MM-L


A financial Spread Transaction which is entered into as two financial Swap 
Transactions with Enron North America Corp. under which either (A) for the 
case in which Counterparty submits an offer to buy the Spread from Enron, 
Counterparty shall pay the Floating Price in the First Transaction and the 
Fixed Price in the Second Transaction while Enron shall pay the Fixed Price 
in the First Transaction and the Floating Price in the Second Transaction, 
each in respect of the Notional Quantity per Determination Period; or (B) for 
the case in which Counterparty submits an offer to sell the Spread to Enron, 
Counterparty shall pay the Fixed Price in the First Transaction and the 
Floating Price in the Second Transaction while Enron shall pay the Floating 
Price in the First Transaction and the Fixed Price in the Second Transaction, 
each in respect of the Notional Quantity per Determination Period. The Fixed 
Price for the First Transaction will be the midpoint of the bid and offer 
price(s) on the Website for the first product listed in the short description 
at the time of the Transaction if both the bid and offer prices are then 
available or the available price if only one of such prices is then 
available. The Fixed Price for the Second Transaction will be the Fixed Price 
used for the First Transaction, modified by the price submitted by the 
Counterparty on the Website.  
The Notional Quantity per Determination Period for both Transactions is the 
volume submitted by the Counterparty via the Website.  The Payment Date for a 
Transaction will be 5 business days after the Floating Price for such 
Transaction is determinable.  
The Floating Price for a Transaction shall be the settlement price for the 
last scheduled Trading Day of the NYMEX Henry Hub Natural Gas Futures 
Contract for the applicable Determination Period.
For the purposes of this Transaction, the Determination Period for the First 
Transaction shall correspond to the first date which appears above. The 
Determination Period for the Second Transaction shall correspond to the 
second date which appears above.
The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the volume is quoted shall be 10,000 MMBtu,
s per month.

Thanks.
Kevin Meredith

==============================================================================
=====
STEPS FOR APPROVAL:

click the  START button 
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD 
click the Enron Online Production Cluster "START" button  
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up 
TO APPROVE:  Right mouse click on "Approved"