Dan,

Ballentine now wants to consult a tax attorney for the tax language we added in this last revision.  He's now shooting for next Wed. Oct. 31 to sign this.  We can, therefore, postpone today's meeting until early next week.  If that's ok with you, I'll ask Julie to find a half hour slot in your schedule.  Please advise.

John

 -----Original Message-----
From: 	Millar, John  
Sent:	Friday, October 19, 2001 10:55 AM
To:	McCarty, Danny
Cc:	Gadd, Eric
Subject:	Alligator Alley Stock Sale Agreement

 

Danny,

Julie has me on your schedule Monday 10/22 at 1:30pm to sign the attached agreement.  I will bring you two copies with legal sign off and with Ballentine's signature.  Here are the terms:

All shares of Enron Alligator Alley Pipeline Company will be sold to ID3Energy Company, which is Ballentine's company
Price is $1,000,000
ID3 puts up $50,000 earnest money 
ID3 takes assets as-is, where-is
ID3 will complete, at their expense, the environmental remediation work plan within twelve months
Enron has right to match any bona fide offer to construct liquid or gas pipelines in the right-of-way for a twelve month period
Enron will negotiate an operating agreement to provide ID3 with field services for no longer than six months
Close in 90 days

We would like to have this executed on Monday 10/22.  If you don't think that's possible, please advise and Julie can reschedule.

Thanks,
John