As I discussed with the commercial group, it is very difficult to post a minimum NPV because it depends not only on the term but on other assumptions in James' chart as well.  (Steve can shed some more light on this if you see him at Keyex).
So I've recommended that we discuss with individual shippers what there needs might be as far as term, then give them a number.  They were planning on calling shippers individually anyway to make them aware of the Needles space.
We can use our chart as a go-by so everyone gets treated the same.  

 -----Original Message-----
From: 	Fossum, Drew  
Sent:	Thursday, April 12, 2001 12:24 AM
To:	Harris, Steven; Scott, Susan
Cc:	Miller, Mary Kay; Lindberg, Lorraine; Fawcett, Jeffery; Hyatt, Kevin; Lokay, Michelle; Lohman, TK; Pavlou, Maria
Subject:	RE: Red Rock posting -- URGENT

We need to clear up the "minimum bid" issue and this posting would be a good place to do that.  Can we put in a new sentence setting out the minimum NPV bid?  We need to create a paper trail on this issue in order to be able to fully respond to BP.  We have been telling customers orally what the minimum dollar value per DTH is, right (i.e., the 15 yr $.36, 10 yr $.45 and 5 yr $.60 or whatever it was, right)?  MKM  do you agree?  DF   

 -----Original Message-----
From: 	Harris, Steven  
Sent:	Wednesday, April 11, 2001 8:29 AM
To:	Scott, Susan
Cc:	Miller, Mary Kay; Fossum, Drew; Lindberg, Lorraine; Fawcett, Jeffery; Hyatt, Kevin; Lokay, Michelle; Lohman, TK
Subject:	Re: Red Rock posting -- URGENT

Susan, this looks fine to me.


From:	Susan Scott/ENRON@enronXgate on 04/10/2001 05:03 PM
To:	Mary Kay Miller/ET&S/Enron@ENRON, Drew Fossum/ENRON@enronXgate, Steven Harris/ET&S/Enron@ENRON, Lorraine Lindberg/Enron@enronXgate
cc:	Jeffery Fawcett/ENRON@enronxgate, Kevin Hyatt/ENRON@enronxgate, Michelle Lokay/ENRON@enronXgate, TK Lohman/ENRON@enronxgate 

Subject:	Red Rock posting -- URGENT

Please see the attached.  Additions to our current posting are highlighted; deletions are crossed out.
The purpose of the revisions is to announce the availability (potentially) of Needles space, set a deadline for bidding (in anticipation of a stampede for the Needles space), state that bids will be evaluated on highest NPV, and to specify a pro rata allocation method.  If you see any problems with this posting, please call me as soon as possible.

 << File: REVISED OPEN SEASON NOTICE 2.doc >>