Greg:  Thanks.  Was a dash done on this?  Mark



	Greg Johnston
	03/06/2001 03:49 PM
		 
		 To: Donna Lowry/HOU/ECT, Mark E Haedicke/HOU/ECT@ECT
		 cc: Peter Keohane/CAL/ECT@ECT, Kyle Kitagawa/CAL/ECT@ECT, Derek 
Lynn/CAL/ECT@ECT, Mark Powell/CAL/ECT@ECT
		 Subject: Participation by Enron Canada in Private Placement of Impact Energy

Enron Canada plans to subscribe to a private placement of common shares in 
Impact Energy Inc. as a merchant equity investment, which private placement 
is closing tomorrow. The acquisition will be made pursuant to a standard long 
form subscription agreement.  Impact Energy is a publicly traded Canadian 
junior oil and gas company (trades on the TSE under the symbol TEY), which 
resulted from the reorganization of Startech Energy by and with ARC Energy in 
January 2001.  Kyle plans on subscribing for 545,455 common shares at a price 
per share of CDN$0.55, for total consideration of $300,000.25.  Under 
Canadian securities legislation, there will be a hold period imposed on the 
shares of one year from the date of issuance of the shares, meaning that 
Enron Canada will be prevented from reselling the shares in the open market 
for one year, unless it resells them pursuant to another exemption from the 
prospectus requirements available under such securities legislation.  Enron 
Canada previously obtained shares in Impact as part of the plan of 
arrangement involving Startech and ARC.

Should you require anything further, please either contact myself at 
403-974-6745 or Derek Lynn at 403-974-6719.

Thanks
Greg Johnston