The product long description below will fall under the new product type CAN 
Gas Straddle Option.  Credit (Tom Moran) has approved copying the profiles 
for the new product type from the following:

 US Financial Option Call

Please respond no later than 10:00 a.m. Wednesday, April 4.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 04/03/2001 04:34 PM 
---------------------------


Chris Walker
03/30/2001 01:43 PM
To: Jeff Blumenthal/Enron@EnronXGate, Susan Musch/Enron@EnronXGate, Bjorn 
Hagelmann/Enron@EnronXGate, Frank Hayden/ENRON@enronXgate, Mark 
Taylor/HOU/ECT@ECT, Tom Moran/Enron@EnronXGate, Dianne Seib/CAL/ECT@ECT
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, Kevin Meredith/Corp/Enron@ENRON, Melba 
Lozano/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Savita 
Puthigai/Enron@EnronXGate 
Subject: Product type approval needed! (CAN Gas Straddle Option)

Your approval is needed for the following product type in Datamanager.  
Please see the steps for approval below.

CAN Gas Straddle Option (product type description)

CAN NG Stdle Opt  (product short description as it appears on the Website)

A financial Option Transaction with Enron Canada Corp., under which the 
Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction. The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the Website in 
accordance with the unit of measure. The Premium shall equal the product of 
(i) the price submitted by Counterparty via the Website, multiplied by (ii) 
the Notional Quantity per Determination Period, multiplied by (iii) the 
number of Determination Periods during the Term of the Transaction. The 
Payment Date for the Premium shall be 2 business days after the Trade Date of 
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 
5 business days after the Cash Settlement Amount is determinable. The Cash 
Settlement Amount for each Determination Period shall be the product of (a) 
the Notional Quantity per Determination Period, multiplied by (b) the 
absolute difference between the Strike Price and the Index.
The Index for each Determination Period shall be the "AECO Monthly Index", 
where: "AECO Monthly Index" means the price in the "Avg" column published in 
the table "Canadian Natural Gas Supply Prices", in the Canadian Gas Price 
Reporter, in the row for "Alberta: AECO "C" & NIT One-Month Spot" for the 
month in which the applicable Determination Period occurs.
The price is quoted in Canadian Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be gigajoules and 
the quantity shown shall be in GJs per day.
The Option Style is European, and the Option Type is a Straddle (the 
simultaneous purchase or sale of Calls and Puts at the specified Strike 
Price).
Automatic Exercise is Applicable.
The Strike Price for the Transaction shall be as set forth in the  product 
short description on the website.


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"