Just a refresher in case you need it today (off of last nights curve and 
assuming Grigsby's offer is .04)

Eric


---------------------- Forwarded by Eric Boyt/Corp/Enron on 02/22/2001 09:04 
AM ---------------------------


Eric Boyt
02/16/2001 04:50 PM
To: Kim Ward/HOU/ECT@ECT
cc: Eric Moon/HOU/ECT@ECT 

Subject: City of Mesa Summary - 2/16/01


Kim, 

Here is the summary.  The bottom line is that by unwinding balance of 
February (2/20-2/28) and the rest of the deal (Mar '01-Jul '02) from a $3.74 
price to a $4.18 price nets Mesa a $.24 discount of the new Index deal (Aug 
'01-Jan '02)

To get them to a $.30 discount on the new Index deal, Mesa would need to 
raise the fix price on the current deal to $4.26.

Eric