Kim -

A couple of thoughts regarding Charles Hinckley's email and your pending trip to San Diego:

1.  I have scoured all of United Technologies' filings and even their website.  I found exactly ZERO references to CalPeak Power, LLC.  I'm not saying that CalPeak ISN'T a wholly-owned subsidiary of United Technologies, but I find it strange that I can't find anything on CalPeak in United's filings/online info.  

2.  If CalPeak is indeed a subsidiary and WILL guarantee CalPeak's obligations, then we are in great shape.  United Technologies is A+ rated, with lots of liquidity available in the form of unused lines of credit.

3.  If CalPeak will not benefit from a United Technologies guaranty, then we definitely need to see their financials/management notes.

Will they send you the financials/notes before you leave for San Diego?


JRW

 -----Original Message-----
From: 	Ward, Kim  
Sent:	Monday, April 02, 2001 2:14 PM
To:	Williams, Jason R.
Cc:	Tycholiz, Barry
Subject:	Re: CalPeak Power RFP - Shortlist

J. -

What's your take on this?  They want to meet with me on friday in San Diego to discuss a potential deal as we were short listed on the RFP to supply gas to the Calpeak power plants.  If we can't get credit established and contracts in their hands, I don't know if we want to waste our time - or money.  Let me know what you think ASAP.

Thanks,

Kim 


---------------------- Forwarded by Kim Ward/HOU/ECT on 04/02/2001 03:09 PM ---------------------------

 
"Charles Hinckley" <cch@cchinckley.com> on 04/02/2001 12:07:54 PM
To:	<Kim.Ward@enron.com>, <adonnell@prmllp.com>
cc:	"Lyons, Mark" <mhlyons@earthlink.net> 
Subject:	Re: CalPeak Power RFP - Shortlist


CalPeak Power, LLC is a project company and is now a wholly owned subisdiary
of Untited Technologies Corporation (NYSE: UTC).  UTC information is
available at www.utc.com, and from the commercial rating services.

It is not invisioned that CalPeak will benifit from an absolute gurantee
from UTC; however, some credit suport mechanism will be built into the
project and into the fuel supply agreements.

Chuck


----- Original Message -----
From: <Kim.Ward@enron.com>
To: <adonnell@prmllp.com>
Cc: <cch@cchinckley.com>
Sent: Monday, April 02, 2001 2:39 PM
Subject: Re: CalPeak Power RFP - Shortlist


>
> Ann,
>
> I just spoke with Jay Williams from our credit department and he only
needs
> CalPeak's latest audited financial statements with management notes.  Any
> additional information that helps us understand the company and how it is
> set up will be helpful.  Sending this information overnight will probobly
> be our best bet.  My address is as follows:
>
> 1400 Smith Street, EB3206a
> Houston, TX  77002
>
> Also, Jay's phone number is 713-345-3923.  Let me know if you have any
> questions.
>
> Thanks,
>
> Kim
>
>
>
>
>




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