Hello all.

We just received notification that our Bank has received the CAD$3MM out of
CAD$8MM originally expected.

Thanks
Kenny

 -----Original Message-----
From: 	Kenny Foo [mailto:Kenny.Foo@ngx.com]
Sent:	Monday, November 26, 2001 1:44 PM
To:	'Jason Williams (E-mail)'; 'Randy Otto (E-mail)'; 'Mike Cowan (E-mail)'
Cc:	'Louise Kitchen (E-mail)'; Gary Gault; Ron Manitowich
Subject:	Enron position.
Importance:	High

It has been our understanding (credit area, both companies) that Enron must
prepay for all its purchases including all forward positions ever since
Enron was downgraded to BBB minus.  Unfortunately for Enron Canada Corp., I
cannot convince my Board nor my Bank to do otherwise.

Enron will still get interest from pre-payments that have not been used to
pay for gas that has already been delivered and invoiced.

With the above in mind, here is the current status:
					CAD$
$ carried forward from yesterday 	   2,725,000
Today's purchases			(14,225,000)	large part of which is Dec gas
Today's wire				   8,000,000 	which incidentally has not arrived as yet
Balance	(short)			  (3,500,000)

Jason, kindly
*	please followup with your Treasury area to see where CAD$8mm is?
*	please, for today's value date, arrange to send another CAD$3.5mm plus
whatever $$ your traders need for tomorrow?
*	your Calgary traders have another 30TJs of room for day gas at time of
writing this email (purchases so far today 3,660TJs).  Once the 30TJs is
filled, you will be halted.

We thank you for your co-operation.

Kenny Foo
Credit and Risk Manager
NGX Financial Inc
140 - 4 Avenue SW, Suite 2330
Calgary,  Alberta, T2P 3N3
Ph: (403)974-1737
Fx: (403)974-1719