NGX et al Litigation Settlement

The following message is to go to everyone in Calgary and Toronto ASAP.

We have settled our lawsuit with NGX, Canadian Enerdata, OM Gruppen and
Richard Zarzeczny, regarding the compilation and methodology for calculating
the Alberta natural gas price indices published by the Canadian Gas Price
Reporter. By the terms of the settlement there will be a joint press release
issued this morning regarding the settlement, which is to be the only public
communication regarding the matter unless agreed to by all parties. A copy
of the press release is attached below. Otherwise the settlement is
confidential to the parties. Accordingly, there is to be no formal or
informal discussion with media, colleagues, competitors, counterparties or
otherwise. If you receive request, simply reply that you understand that
the matter is confidential, but the request can be referred either to Rob
Milnthorp or me and we will respond as appropriate.

If you have any questions, please speak to Rob or me.

Peter Keohane.

- Press Release-Enron Deal-May 15-2001..doc