pls print.  thanks df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 05/12/2000 
10:59 AM ---------------------------
   
	Enron North America Corp.
	
	From:  John Allario @ ECT                           05/11/2000 06:57 PM
	

To: Paul Bieniawski/Corp/Enron@ENRON, Jin Guo/HOU/ECT@ECT, Garry D 
Wilson/HOU/ECT@ECT
cc: Gail Tholen/HOU/ECT@ECT, Davis Thames/HOU/ECT@ECT, Drew Fossom, Steve Van 
Hooser/HOU/ECT@ECT 

Subject: Enron Gas Storage Deal Structure Working Notes for LRC

Team

I have summarized in the margins of our DRAFT deal structure the "high level" 
issues that Gail Tholen, Jin and I discussed on Thursday.   These are 
preliminary guidelines and as our deal evolves and our partner's desires 
change, we will have to potentially address completely different accounting, 
regulatory and tax issues.     We hope to touch on some of the issues that 
this structure may raise from a Regulatory perspective with Drew Fossom when 
we meet next Tuesday at 10:00AM.  

Please comment and advise as you see fit.

Thanks

-John