Here's the email. Any questions, give me a call. Per
---------------------- Forwarded by Per Sekse/NY/ECT on 08/21/2000 10:50 AM 
---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  Per Sekse                           08/10/2000 02:56 PM
	

To: John J Lavorato/Corp/Enron@Enron
cc: Fred Lagrasta/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT 
Subject: Hedge Fund Update & Summary

Fred asked me to pull together an update for you on our dealings with Hedge 
Funds. Look forward to seeing you at 2PM today.

We have active trading relationships with two hedge Funds, Tudor & Ospraie, 
and have documentation negotiations under way with 11 others. In addition, we 
were trading with Tiger earlier in the year before they closed down. The 
commodity traders I dealt with at Tiger (Paul Touradji & Rob Ellis) are in 
the process of setting up their own hedge fund and will trade with us again 
in late Autumn once they get their paper work in order.

2000 Hedge Fund Origination Summary

Tiger   $112,000  (began trading in Dec 99 and stopped in Mar 00)
Tudor   $384,700 (began trading in Mar 00)
Ospraie  $589,940 (began trading in May 00)

Total year to date $1,086,640 (My budget est for 2000 is approx $2mm)

I've attached two files. The first is a spread sheet with all our hedge fund 
trades year to date in detail. In there you will see a tab for work in 
progress, these are the funds I am targeting to get signed on for trading 
with us and the state of play with each.  The second is a word document 
listing the hedge funds I have had contact with.  While the Hedge Fund 
universe is large, 1500-2000 easily, the ones that trade commodities and more 
specifically trade OTC rather than futures are limited. The entire universe 
is probably no more than 30-50 names, many of which are too small to bother 
with. For the most part I look for them to have $100mm under management since 
the allocation to energy commodities is usually a small percent of that, e.g. 
10-15%. A few of them, however, specialize in commodities and represent my 
priority target clients.

Per