Cary,
Great job...  Please write a short detailed description of this transaction for distribution to all our Central Originators.  Write it, send it to me and I will forward a note to everyone for product pitch to a larger market.

Thanx,
Laura




	Cary M Carrabine 05/04/2001 11:17 AM 	   To: Laura Luce/Corp/Enron@Enron, Hunter S Shively/Enron@EnronXGate, Gregg Penman/Corp/Enron@Enron, Kelli Stevens/Enron@EnronXGate  cc:   Subject: CILCO	


A gas/power deal was closed with CILCO on May 1st.
This deal was  worked as a gas/power origination combo with Ed Baughman in Power.
The deal structure is as follows:

ENA buys a daily gas put @ a $4.00 strike - Jan '02 thru Dec '02  -  NGPL Midcont  10,000/day (physical)

ENA sells power to CILCO into Illinois Power  -  Sep '01 thru May '02  -  20 MW ; 5 X 16  @  $26.00

Total value created  	$479,000

			($250,000)  Risk premium held in reserve for IP delivery

			$229,660   Origination - Split 50/50 between Gas & Power ($114,830 each)

Please let me know if you have any questions.

Cary