FYI.  The gain has restored itself to some extent since my comments to you this a.m., largely for two reasons: (1) Calger requested that the CSFB transaction fee be reduced from the earlier 3% fee to 50 bps w/ the reason being that Fastow is negotiating an ENE overall fee structure to which we will benefit and (2) upon analysis, the out-of-pocket expenses included in the earlier gain calc included expenses that Chris had already taken in prior periods, but were included in the calc to make sure JEDI took their share. Good news is gain looks to be approx $710k from the sale, bad news is not $1.2 MM.

 -----Original Message-----
From: 	Becton, Pam  
Sent:	Tuesday, September  25, 2001 6:11 PM
To:	Sherman, Cris
Cc:	Page, Jonalan; Helton, Susan; Vandor, David; Lum, Rosalyn; Vargas, Hope; Lamb, Marnie
Subject:	Pioneer Chlor revised p&l amount for 3rd quarter

Cris,

Attached is my revised gain calculation for Pioneer Chlor.  The amount has been changed to a gain on sale of $710,619.31.  This along with the interest income for the third quarter of $250,299.86 gives a total p&l amount for the third quarter (net to ENA) of $960,919.17.

Please let me know if you disagree with my calculation or if you have any questions.

Thanks,
Pam
3-6595