Mark, I understand we need to act very quickly once we have turned you loose 
to price the swap.  I think this is a Harris and Nelson call, so lets talk 
tomorrow.  I'll look at the contracts again to verify our risks in locking in 
before we are 100% sure we are going ahead with the project.  DF




Mark Knippa@ECT
01/31/2000 04:27 PM
To: David Foti/ET&S/Enron@ENRON, Steve Harris/HOU/ECT@ECT, Drew 
Fossum/ET&S/Enron@ENRON
cc:  

Subject: Gallup - Conversion Agreement Pricing



Just wanted to communicate that I contacted Drew earlier today to suggest that
we check the pricing and execute the Conversion Agreement for Gallup.   As you
guys know, the recent price valuation for deliveries associated with Gallup 
have been 
well below the earlier market quotes.  

 Given the short term market reaction to the colder weather, we may be able 
establish
prices similar to the earlier market quote.   Based on the response from Dave 
and Drew
I have requested the pricing and hope to have that information by mid-day 
tomorrow.