-----Original Message-----
From: ckwinter@deseretgt.com [mailto:ckwinter@deseretgt.com]
Sent: Friday, November 02, 2001 1:52 PM
To: Choi, Paul
Subject: Re: NYMEX


Paul,
Actually, we are interested in a straight monthly puts -- probably 25 MWs per month -- on our NYMEX position (i.e., at the money monthly strikes with put premium for year paid within first 3 business days after 1/1/2002.
Curt

>>> "Choi, Paul" <Paul.Choi@ENRON.com> 11/02/01 10:42AM >>>
Curt,

Are you interested in doing a similar structure for your NYMEX index
positions?  We can incorporate the unit contingent component into the
deal with how we did handled it in our previous transaction and also
enhance it by paying you the difference between DJ index and NYMEX for
when Bonanza goes down since you may be concerned that the NYMEX price
you are receiving will not match the market prices that you may have to
pay to replace the energy.  Give me a call to discuss this and I am
getting the ball rolling on getting you a copy of the ISDA.

Best Regards,

Paul Choi



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