Pat,

Attached is a draft of the GISB between ENA and Sequent Energy.   As 
requested,  I have included in the Special Provisions found on the last page, 
an addition to Section 7 a provision for netting.   

Regarding the date,  how were the previous transactions papered you wish to 
be a part of this GISB?  Are there in current active transactions?

Finally, if in agreement with this draft please complete Sequent's 
administrative portion and remove "Draft" from the heading and we can discuss 
your reasons for the date change.



Regards,
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490