The results of a lot or hard work from Randy, Pearson, Carlos, Kay, Chip, 
Keith and everyone else who ever suffered this. Thanks to all of you for a 
good ending to bad story.  I wish we could let Kingshill in on the story, but 
he was already probably gone when this hit, wasn't he?

/JWVS
----- Forwarded by John Schwartzenburg/ENRON_DEVELOPMENT on 05/11/2001 10:21 
AM -----

	William Gehle Jr
	05/10/2001 04:56 PM
		
		 To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: 
		 Subject: Re: take one last look - OK fine but need commercial signature?

John/Karen:

It does seem that in general we should have Keith Dodson or Brian Stanley 
sign to evidence approval "closer to home" prior to a signature at the 
Wholesale Group head level.  I don't think it is essential on this relatively 
clear decision, but in general it would make sense to have an EEOS signature .

Concerning the IRR's, John, the IRR on EPC 63 was 25.3%, on EPC 64 it was 
55.1% and combined the IRR was 35.2%.  These will vary with any minor 
adjustments prior to closing.  

Incidentally, the IRR on Demar will be 22.7% for EPC 4 and 25.5% with EPC 4 
and EPC 4350 combined.

Regards,

Chip






John Schwartzenburg
05/10/2001 04:11 PM
To: Karen L Barbour/ENRON@enronXgate@ENRON, Randy Pais@Enron
cc: Keith Marlow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William Gehle 
Jr/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: Re: take one last look - OK fine but need commercial signature?  

I have looked at this and talked to Randy. Besides wondering whether Keith 
Dodson or Brian Stanley needs to sign, I am ok with this. Karen, let me know 
if I should sign this or if you intend to add Keith or Brian.

 Has anyone calculated the rate or return on the project if this pans out? I 
see it has an NPV disocunt rate of 30%.

JWVS



	Karen L Barbour/ENRON@enronXgate
	05/10/2001 01:59 PM
		 
		 To: Keith Marlow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William Gehle 
Jr/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John 
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: 
		 Subject: take one last look

If there is no more changes, we'll start getting it signed today.  Thanks.