We all knew about this concept--its Danny's "Newco" idea.  The only thing 
that is new is they finally decided on a name and got the paperwork for the 
new corporate entity out of the Corporate Secretary's office.  I knew about 
the name a couple weeks ago.  As far as I know, no one has signed off on any 
particular transaction or on a procedure to follow when "Mavrix" starts 
transacting business.  We all better understand at that point that this may 
be a "lose lose" deal--if Mavrix makes a ton of money, everyone will come 
after it (as soon as they find out) and claim we arre playing games with 
confidential information if Mavrix is trading capacity on the Enron pipes.  
If Mavrix loses money, tough cookie--there's no way to plow the losses back 
into some regulated entity.  It is probably now time to have a prayer meeting 
with Danny, Steve, and probably Stan, just to make sure everyone knows what 
we all think about the risks before they charge off and start doing deals.  
DF 


   
	
	
	From:  Mary Kay Miller                           02/01/2001 07:37 AM
	

To: Drew Fossum/ET&S/Enron@ENRON
cc:  

Subject: Re: Mavrix

Were you involved?  MK
---------------------- Forwarded by Mary Kay Miller/ET&S/Enron on 02/01/2001 
07:37 AM ---------------------------


Susan Scott
01/31/2001 09:42 AM
To: Mary Kay Miller/ET&S/Enron@ENRON
cc: Shelley Corman/ET&S/Enron 

Subject: Re: Mavrix  

I thought the officers had discussed this with Danny quite some time ago, as 
the organization of the company was set in motion in early Dec.

Mavrix Transportation Trading Corp. has been organized as a wholly-owned 
subsidiary of ETS for the purpose of transportation capacity management.  The 
officers are the same as the slate of officers of Transwestern.   The company 
will neither buy or sell gas nor use transportation capacity.  However, it 
does plan to enter into natural gas transportation contracts (and resell the 
capacity thru capacity release).  That is why the creditworthiness question 
has come up.
I really don't have any information so send you, unless you want to see the 
organizational documents.  Steve Harris can answer any business-related 
questions you have.  Or, I'll be happy to try to answer any other questions.


   
	
	
	From:  Mary Kay Miller                           01/31/2001 07:16 AM
	

To: Susan Scott/ET&S/Enron@ENRON
cc: Shelley Corman/ET&S/Enron 

Subject: Re: Mavrix  

Susan, maybe I'm the only one, but I hadn't heard of this new company and 
what it is to be used for until Mondauy's staff meeting.  What details do we 
have on this?  can you send me some info on this?  thanks  MK



Susan Scott
01/30/2001 02:27 PM
To: Drew Fossum@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Steven 
Harris/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Tracy 
Geaccone/GPGFIN/Enron@ENRON
cc:  

Subject: Mavrix

Mavrix Transportation Trading Corp., which is a subsidiary of ETS, needs to 
satisfy TW's creditworthiness requirements in order to enter into a 
transportation agreement with TW.  Paul Cherry has suggested that Northern 
Natural Gas issue a guarantee.  Please let me know whether you think this 
would be acceptable.  If Mavrix wanted to hold NNG capacity, TW could issue 
the guarantee.