I've scheduled a meeting with Guy on March 30




Susan Bailey
03/10/2000 08:59 AM
To: Guy Dayvault/Corp/Enron@ENRON
cc: Sara Shackleton/HOU/ECT@ECT 
Subject: Re: Enron Global Exploration & Production Inc. ("EGEP")  

Guy,

FYI -- the ISDA Master Agreement utilized by Enron for its 
financially-settled swap & option transactions is the industry standard.   
However, for your comfort in understanding how it works I suggest that you 
call Sara Shackleton in our group.   Sara is very well versed with the ISDA, 
and can give you a great overview.  Sara's extension is x35620.

As for your matter concerning a contract employee -- I concur with you and do 
not believe you are being overly cautious.  I have worked with Howard during 
my tenure with EOG, and will therefore revise page 2 of the Schedule to 
Master Agreement to reflect Howard Selzer's name and title.   You will 
receive replacement  page 2 today by messenger.  Please do me a favor -- 
switch out the replacement page 2 with the existing page 2, so the agreement 
will be ready to go for execution.

Give my best to Howard and thanks again.

Susan 



Guy Dayvault@ENRON
03/09/2000 05:20 PM
To: Susan Bailey/HOU/ECT@ECT
cc: Howard Selzer/Corp/Enron@Enron, William Watts/Corp/Enron@ENRON 
Subject: Re: Enron Global Exploration & Production Inc. ("EGEP")  

Susan
Good point.  However, our new VP & CFO is a contractor and thus not truly an 
officer of the company.  We have to be careful of this, so I would suggest 
that the title of the officer you place in the ISDA be our Chief Accounting 
Officer, since that individual (Howard Selzer) has the signature authority 
normally delegated to the VP CFO and he is the most senior employee in our 
department.
This may be being overly cautious here, but it is important that contractors 
not be treated as employees, especially with regard to officers of the 
company.

Thanks for the reminder on getting the ISDA returned.  Unfortunately there is 
no one I have located yet in our business unit who can explain the document 
or has seen one before which means I'm planning on spending at least several 
hours reading and understanding the issues & implications.  Perhaps you could 
help me.  Can you direct me to someone that routinely works with these 
documents that could walk me through the pages?  I think 30 minutes spent 
outlining the agreement & it's nuances would be useful.  If you have no 
ideas, just bear with me and I'll get to it. 

best regards
Guy




Susan Bailey@ECT
03/09/2000 03:46 PM
To: Guy Dayvault/Corp/Enron@Enron
cc:  

Subject: Enron Global Exploration & Production Inc. ("EGEP")

Guy,

It is my understanding that your VP & CFO will be joining Enron Corp.'s 
Investor Relations group.  In light of such development, I suggest that page 
2 of the ISDA Master Agreement dated August 24, 1999, between Risk Management 
& Trading Corp. (which you have yet to return in executed form)be revised to 
reference the title of the officer rather than the officer's name.

If such change is OK, I will forward the new page 2 for replacement to the 
EXECUTION COPIES in your possess.

As before, all of us are busy, but it would be most appreciated if you or 
someone in your group could see to the execution of this agreement.

Thank you.  

Susan