FW: Rawhide project

Gentlemen:

The info below is a little confusing. I was never informed until now that anything of EGAS was in Rawhide. If this is true and Enron has conveyed these assets to a structured vehicle, then we have breached transfer obligations on almost every deal, our debt may be in default and we need to understand the consequences asap as Subic and Batangas are the subject of current negotiations.

Jim Hughes

-----Original Message-----
From: Konur, Sanjay
Sent: Mon 11/26/2001 5:21 PM
To: Hughes, James A.
Cc: Ji, Lian; McIntyre, Kelley
Subject: Rawhide project

Jim,

Because of the nature of what they asked, I just wanted to keep you informed on this.

Global Finance has requested models, historicals, timings for disposal on the Rawhide assets. These assets include Subic, Batangas, Guam, Gaspart, Centragas, PQPC, and TGS. I was going to get them the info on the models and ask for Carol Howes' help on the historicals. If neccessary, I will also set them up with people over here who can help explain the valuations.

Sanjay