Mark - I made a minor adjustment to the index language:  revised "quotations" 
to "quotation."  Thanks -


The Index for the term of the Transaction shall be the difference between (i) 
the mean of the daily first line quotation for WTI/(MONTH) under the heading 
"U.S. $/Bbl" in the Crude Price Assessments section of Platt's Oilgram Price 
Report for the issue published on the Transaction Date, minus (ii) the mean 
of the daily quotation for WTI Midland under the heading "U.S. $/Bbl" in the 
Crude Price assessments section of Platt's Oilgram Price Report for the issue 
published on the Transaction Date.
---------------------- Forwarded by Robert B Cass/HOU/ECT on 01/19/2001 10:01 
AM ---------------------------


Robert B Cass
01/18/2001 08:25 AM
To: Mark Taylor/HOU/ECT@ECT
cc: Kevin Meredith/Corp/Enron@ENRON, Melba Lozano/HOU/ECT@ECT 
Subject: Please Review and Advise EOL New Product Language

Mark -
Please review and advise on the following Product description for a "WTI 
Physical Basis" product.  The pricing index is Platt's for the day of the 
transaction with the difference between the 1st line WTI and other Platt's 
indices (the example below is matched to WTI Midland; other Platt's indices 
include:  WTS; LLS; HLS; Wyo. Sweet; Eugene Island; Mars; Poseidon; Bonito; 
Kern River; ANS(Cal); Basrah Lt).

The exact delivery locations are in the process of being identified.  
However, the description below uses Cushing OK as a location.

If you need to discuss further, please call me.  Thanks

Rob