You are bad to the bones...!



	Bob Bowen
	04/25/2001 11:42 AM
		
		 To: Tana Jones/HOU/ECT@ECT
		 cc: 
		 Subject: Re: FW: Request Termination Agreements for 4 EnronOnline 
Transactions W/ ATTACHMENT

The trades are all similar so here goes:

Fixed Price Payer (Buyer)  Coral Energy Holding, L.P. ((EnronOnline Deal 
#1150351)
     Morgan Stanley Capital Group Inc.  (EnronOnline Deal #1150406)
     Morgan Stanley Capital Group Inc.  (EnronOnline Deal #1150411)
     Morgan Stanley Capital Group Inc.  (EnronOnline Deal #1150426)

Floating Price Payer(Seller)  Enron North America Corp.
Deal Date    4/20/01
Effective Date    10/1/01
Termination Date   10/31/01
Notional Quantity   5,000 MMBtu per day
Fixed Price    Last Day of NYMEX plus $0.3700
Floating Price    The applicable Determination Period Bidweek Average Price 
in the 
     row entitled "Malin" located in the "California" section of the table 
entitled 
     "Spot Gas Prices" in the first issue of Natural Gas Intelligence Weekly 
     Gas Price Index for the applicable Determination Period
     or, simply stated
     NGI - Malin
Commodity    Natural Gas

If I forgot something, please let me know.  

How is Karen Lambert by the way?  Has she been on vacation lately?
  


From: Tana Jones on 04/25/2001 10:05 AM
To: Bob Bowen/HOU/ECT@ECT
cc:  
Subject: FW: Request Termination Agreements for 4 EnronOnline Transactions W/ 
ATTACHMENT

Attached is a list of four deals for some online "oops" trades.  Can you send 
me the deal particulars so I can prepare terminations of the trades.
----- Forwarded by Tana Jones/HOU/ECT on 04/25/2001 10:04 AM -----

	Robert B Cass/ENRON@enronXgate
	04/25/2001 09:50 AM
		 
		 To: Tana Jones/HOU/ECT@ECT
		 cc: Jennifer deBoisblanc Denny/ENRON@enronXgate
		 Subject: FW: Request Termination Agreements for 4 EnronOnline Transactions 
W/ ATTACHMENT

Tana -
This e-mail includes the attachment.  It "fell off" my e-mail from last night.

Thanks -
Rob

 

 -----Original Message-----
From:  Cass, Robert B.  
Sent: Tuesday, April  24, 2001 6:29 PM
To: Jones, Tana
Cc: Moorer, Torrey; Denny, Jennifer; Thomas, Sheri
Subject: Request Termination Agreements for 4 EnronOnline Transactions


Hi Tana -  

We need your assistance in preparing termination letters for the transactions 
listed on the attached spreadsheet and described as follows:

On Friday, April 20, 2001, four transactions occurred on EnronOnline that 
were in error.  One transaction was with Coral Energy Holding L.P. and three 
transactions were with Morgan Stanley Capital Group, Inc.  As mutually agreed 
to by both the Enron commercial team and the respective counterparties, it 
was decided that each of the four transactions would not be confirmed and 
should be terminated.  

The exact specifics are detailed as follows:

? The transactions occurred due to an inadvertent entry in the actual 
production system of EnronOnline by a Product Control Group member, Melba 
Lozano.  Melba activated a product assuming that she was in the EnronOnline 
test system of EnronOnline.  

? The product transacted upon is normally managed by Frank Ermis.  However, 
in his absence on Friday, the product was managed by Matt Lenhart.

? Steve South, trader on the West Desk, called and notified both Morgan and 
Coral that the product had been posted in error.  All parties agreed that the 
transactions were not reflective of the normal pricing.  As a result they 
further agreed that transaction confirmations would not be necessary and that 
the deals would be "killed" on all sides.  (For reference of any telephone 
tapes that may need to be pulled, the conversations with the counterparties 
occurred around 2:00 pm.)

? No confirmations were generated as a result of the killing of the 
transactions in TAGG.

? I spoke with Mike Grigsby on Monday (April 23, 2001) and advised him that 
termination letters may be required by Legal.  He responded that he had no 
problem with that.

Tana, please advise if additional information is required to complete the 
termination letters or if another course of action is warranted.

Thank you,

Rob Cass
x35491