I want Platts, etc. to apologize and retract their story.

Jeff




Eric Thode@ENRON
10/12/2000 01:00 PM
To: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, John L 
Nowlan/HOU/ECT@ECT, Mark Palmer/Corp/Enron@ENRON
cc:  
Subject: Euell Energy Issue

I have fielded two calls regarding the Euell Energy issue.  They are from 
Beth Evans at Platt's and Robert Givens at Bridge News.  They have both 
spoken with Renard Euell and asked for our side of the story.  Primary points 
made are as follows:

9/28 or 29 - Mr. Euell contacted Enron through an employee in another 
division of Enron
  - This contact was forwarded to John Nowlan through a second employee
9/29  - Nowlan contacted Mr. Euell and told him that if Euell receives part 
of the oil that Enron would talk to him about a possible deal
  - Euell said he felt he would win part (NOTE: This was said in response to 
Beth's comment that Euell claimed Enron contacted him with    apparent inside 
knowledge that Euell was going to win part of the bid.)
10/3 or 4 - Euell called us regarding the SPR oil he won
  - We asked for the particulars of his bid and he stated them to us
10/4  - Enron received from Euell a copy of his letter to the DOE
  - The details were different than Euell had told us, but conversations 
continued
10/5  - Enron faxed a draft Novation Agreement to Euell.  This was never 
executed.  In fact, it has never left draft form.
10/5 thru 9 - Various conversations with Euell
  - He claimed to be in conversations with Nigeria, Shell, Mobil, BP, 
Equilon, Koch and Phillips
10/10  - Enron spoke with Euell around noon and suggested he take another 
deal that Euell claimed to have
  - Euell called Enron around 4:30 pm...Enron reiterated belief that Euell 
should take the bid he claimed to have
  - Interestingly, Euell was in Houston supposedly having meetings with 
various companies, but never requested a meeting with Enron, nor    did he 
ever have a meeting with Enron

Both reporters, prior to their conversation with me, are convinced the guy is 
a flake.  And lay most of the blame for the SPR debacle on the back of the 
DOE.  Palmer plans to contact John Fialka at Wall Street Journal later 
today.  If you have any questions, call me at ext. 3-9053.

Eric