Carlos:

	This is the project I was talking about.  Let's get together and talk.

Jeff

 -----Original Message-----
From: 	Miller, Kevin  
Sent:	Tuesday, November 13, 2001 5:17 PM
To:	Hodge, Jeffrey T.
Cc:	Keel, Allan; Mrha, Jean; Melendrez, Jesus; Druzbik, Lisa
Subject:	Potential Pluto Gathering Line Sale


Jeff,


I spoke with Stephen Noe, Director at Duke Energy Field Services, today regarding Duke's evaluation of the Pluto gathering line.  He confirmed that Duke is still in the $14 to $15 MM range for the pipeline.  He did indicate that his original evaluation did not include abandonment costs in the figure he gave me over lunch several weeks ago.  He is posturing toward the lower end of the range.  However, he did indicate that $14 MM appeared to be minimum type valuation. 

Given that Duke's price for the pipeline is still in the range Enron that will consider selling the pipeline, would you please begin drafting the purchase sale agreement and the necessary assignments for the transaction.  Attached herewith is a document that you reviewed last week regarding the schedule and structure for the transaction.  If we could have draft documents for internal review by Monday November 26, I believe that we can complete the review and send draft documents to Duke on November 29th.  

If you have any questions or identify any material issues please give me a call to discuss x-33541.


 

Thanks  ... Kevin