Sara attached is the confirmation with 2 changes marked  I believe are 
necessary. 







David Minns
05/09/2000 08:29 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: Re: HDD Swap between ENA and Aquila Risk Management Corporation  

Sara, further to my email. Has the confirmation for the Melbourne HDD swap 
with Aquila been signed yet. If it has we need to do the "back to back" 
confirmation with EAF.    



David Minns
04/27/2000 02:44 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: Re: HDD Swap between ENA and Aquila Risk Management Corporation  

Sara I agree that the confirmation should be in a form that is acceptable to 
ENA. We attempted to put use an ENA confirmation format. I have incorporated 
your comments into our latest draft. I did this with some caution as there 
appears to be slight differences between it and the draft you sent me. I 
suggest if you find our section 2 satisfactory then you lift it and place it 
in your standard confirmation. On the issues you raised.
1 October is correct as the termination date as time is measured from 9am 
each day. Hence 30 September finishes at 8:59am on 1 October   
The Payment Date should be at least 20 Business Days after the BoM readings 
to determine the Floating Amount. An alternative wording could be "the 
earlier of the [specified date] or 20 Business Days after...." 
 The "Strike Amount Differential" and  "Payment Amount" could be worded 
alternatively as in the pro forma ENA confirmation attached.  


Would you forward your final wording. 



David Minns
04/27/2000 09:23 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: Re: HDD Swap between ENA and Aquila Risk Management Corporation  

Thanks for that Shari. I have your fax. I will respond today  



Sara Shackleton@ECT
04/27/2000 08:54 AM
To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  

Subject: HDD Swap between ENA and Aquila Risk Management Corporation

Hi, David!  Hope all is well.  Since the referenced swap has been documented 
by ENA, I am now reviewing the Transaction.  I have a number of questions, 
many the result of my unfamiliarity with your Australian Reference/Fallback 
weather stations and a few other comments.  I thought I would mark this up 
and fax it to you which I will do shortly.  Sara