Nice trader speak from our boy Brant.  Mary Cook will have no clue what he is 
talking about.
---------------------- Forwarded by John Suttle/HOU/ECT on 12/19/2000 04:18 
AM ---------------------------


Brant Reves
12/18/2000 02:38 PM
To: Mary Cook/HOU/ECT@ECT
cc: Darren Vanek/NA/Enron@Enron, John Suttle/HOU/ECT@ECT, Nelson 
Ferries/Corp/Enron@ENRON 
Subject: Linder Oil Company

Mary,

Linder Oil Company, A Partnership- ENA is currently purchasing approximately 
620,000/mmbtu/firm/month through March'01 under GTC contracts.  The current 
dollar value of this notional volume is approximately $5.5MM.  No outstanding 
financial trades exist.

Linder Energy Company - ENA is currently long one financial swap (nb3995.2) 
for 6,500/mmbtu/d Cal'01 @ $2.755.  The financial mark to market value of 
this trade is approximately $7.3MM.  The Annex B that was attached to this 
omnibus confirmation contained credit language that provided a $600M credit 
line and specified an additional amount of $700M.  We received and continue 
to hold an LC for $700M to secure the additional amount, but made no other 
margin call.

Lousiana General Oil Company - ENA is currently long one financial swap 
(nb3939.2) for 1,625/mmbtu/d Cal'01 @ $2.755.  The financial mark to market 
value of this trade is approximately $1.8MM.  The Anned B that was attached 
to this omnibus confirmation contained credit language that provided a $100 
credit line and specified an additional amount of $175M.  We received and 
continue to hold an LC for $175M to secure the additional amount, but made no 
other margin call.

This morning we called Linder Energy and Louisiana General for margin.  They 
can't post.  We would like to assign the two outstanding financial trades to 
Linder Oil Company and put into place language that would allow 
physical/financial offset in an early termination event.

Could you please give me a call on this when you get a chance.

thanks
brant