Rick:

This is quick note to let you know that I shall work very closely with Lisa 
on Fireball project (see first project below).  While working in her group to 
provide the required regulatory due diligence, we shall also attempt to:  a) 
link the effort to RAC process (mainly through Dave Gorte), b) Find accurate 
measure to reflect the risk the Enron sees for GA reporting purposes (also 
measures for our contribution to the project).

Not only this project is important in terms of size ($750 million), but also 
in its activity (acquisition of coal company); it is an excellent opportunity 
to document the processes followed as they happen.    

I am grateful for Lisa's help and support.

Please let me know if you have any question.


Brgrds

AI
----- Forwarded by Amr Ibrahim/ENRON_DEVELOPMENT on 07/05/2001 07:50 AM -----

	Amr Ibrahim
	06/29/2001 02:02 PM
		 
		 To: Richard Shapiro/NA/Enron@Enron
		 cc: James D Steffes/NA/Enron@Enron, Lisa Yoho/NA/Enron@Enron, Paul 
Dawson/Govt. Affairs/LON/ECT@ECT, Nicholas O'Day/AP/Enron@Enron, Steve 
Montovano/NA/Enron@Enron, Chauncey Hood/NA/Enron@ENRON
		 Subject: RAC Meeting June 29 


Rick, Colleagues:

The RAC meeting for June 29th added 3 new projects with gross capital of $770 
million.  Their particulars are as follows:

Region/Group  Deal  Project Originator  Description
EWS   Fireball  Mike Beyer   Acquisition of Powder River Basin Coal Company  
($750 million)
Action Item:  Communicate with Lisa Yoho and compile GA comments for RAC if 
any.    It was highlighted in the meeting that this project is very important 
for Enron and encompasses major regulatory issues all along the value chain.  

ENCom Europe  UBE  S. Yaijima   Downpayment on IPP site in Japan
Action Item: Communicate with Nick and compile GA comments for RAC if any.  

EES    Guinness  Patrick Bastien  Buy and manage utility assets at London 
Brewery
Action Item: Communicate with Paul Dawson and compile GA comments for RAC if 
any.  


Secondly, the following project is now marked "Red"

EWS   Dodger  David Marks   Acquisition interests in QF in Brooklyn Navy Yard 
QF  ($130 Million)
 Action Item: Communicate with Steve Monotvano and compile GA comments for 
RAC if any.

Please let me know if you have any question.

Best regards

AI