We have received an executed Master Agreement:


Type of Contract:  ISDA Master Agreement (Local Currency - Single 
Jurisdiction)

Effective Date:   July 25, 2000

Enron Entity:   Enron North America Corp.

Counterparty:   United Oil & Minerals, Inc.

Transactions Covered:  Approved for all products with the exception of: 
Lumber, Pulp & Paper
          Foreign Exchange
          
          
Confirming Entity:  Enron North America Corp.

Choice of Law:   Texas


Copies will be distributed.




Samantha M. Boyd
Sr. Legal Specialist
Enron North America Corp.
1400 Smith, EB3802A
Houston, TX  77002
Phone:  (713) 853-9188
Fax:  (713) 646-3490
email:  samantha.boyd@enron.com