I may have a few minor drafting comments but this otherwise looks pretty good 
to me.  What do you think?
---------------------- Forwarded by Mark Taylor/HOU/ECT on 11/18/99 05:16 PM 
---------------------------


Greg Johnston
11/18/99 09:58 AM
To: Mark Taylor/HOU/ECT@ECT
cc: Peggy E Hedstrom/CAL/ECT@ECT, Shari Stack/HOU/ECT@ECT, Jeffrey T 
Hodge/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT 
Subject: EnronOnline - Short Term Canadian Physical Deals

Mark, I understand that for certain short term Canadian physical deals 
completed between ENA and Enron Canada through the facilities of EnronOnline, 
ENA and Enron Canada have agreed to transact these deals as physical deals 
but book them as financial deals.  I was asked to prepare an agreement to be 
entered into between ENA and Enron Canada to reflect this agreement.  I 
attach a copy for your review and comment.  Please call me to let me know if 
you have any comments at your earliest convenience, as I understand that 
there is some urgency in getting this agreement in place.

Thanks

Greg Johnston (403-974-6745)