Hi, Stephanie

VCM has an office in bermuda and in Houston ... you will tend to deal with
the Houston office most of the time on trading, invoicing and collateral
matters.

I trust that this answers your question

Regards, David

David Fransen
Vitol SA Geneva
Tel : 00-41-22-322-1111

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This email and any files transmitted with it are confidential and
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    -----Original Message-----
   From:   David Fransen <DBF@Vitol.com>@ENRON

[mailto:IMCEANOTES-David+20Fransen+20+3CDBF+40Vitol+2Ecom+3E+40ENRON@ENRON.c
om]


   Sent:   Friday, September 28, 2001 1:25 AM
   To:     Panus, Stephanie
   Cc:     Gilbert Widmer
   Subject:  RE: Vitol/Enron ISDA

   Great ... thanks for the email

   We look forward to your reply

   Regards, David


   -----Original Message-----
   From: Stephanie.Panus@enron.com [mailto:Stephanie.Panus@enron.com]
   Sent: 27 September 2001 21:52
   To: DBF@Vitol.com
   Subject: RE: Vitol/Enron ISDA


   David,
   Sorry to not respond earlier.  We did receive the attachments in
   readable
   format and Francisco is currently reviewing them.

       -----Original Message-----
      From:   David Fransen <DBF@Vitol.com>@ENRON


[mailto:IMCEANOTES-David+20Fransen+20+3CDBF+40Vitol+2Ecom+3E+40ENRON@ENRON.c
   om]


      Sent:   Friday, September 21, 2001 3:51 AM
      To:     Panus, Stephanie
      Cc:     Martha Garrison; Gilbert Widmer; Keith Swaby; Vanek, Darren
      Subject:  Vitol/Enron ISDA

      Hello, Stephanie,

      I must first apologise for the delay in replying to your
      email/attachments
      fo 24 July.

      Our reply is for the ISDA with Vitol Capital Management, but I hope
   that
      once we have agreed the wording for this , we will be able to quickly
      implement ISDA's for the other Vitol and Enron entities involved ...
   I
      expect that we will just have to change the tax declarations, the
      address
      details and a few other similar minor items.

      Attached is a covering letter and revised draft schedule.

       <<X M Sept. 21, 2001 Reply to ENA.doc>>  <<X Draf Schedule Revised
   by
      Vitol
      Sept 11, 2001.doc>>

      Can you please confirm that you receive this email and the
   attachments
      in a
      'readable' format?

      Thanks and regards, David

      David Fransen
      Vitol SA Geneva
      Tel : 00-41-22-322-1111


   **********************************************************************
      This email and any files transmitted with it are confidential and
      intended solely for the use of the individual or entity to whom they
      are addressed. If you have received this email in error please notify
      the sender.

   **********************************************************************



       - X M Sept. 21, 2001 Reply to ENA.doc << File: X M Sept. 21, 2001
   Reply
      to ENA.doc >>
       - X Draf Schedule Revised by Vitol Sept 11, 2001.doc << File: X Draf
      Schedule Revised by Vitol Sept 11, 2001.doc >>



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