Re: Shell Oil

One more point: Shell has agreed to pay $1500 per month to cover meter
upgrade.

Enron North America Corp.

From: Gary W Lamphier 05/31/2000 05:41 PM

To: Dan J Hyvl/HOU/ECT@ECT
cc: Gary W Lamphier/HOU/ECT@ECT
Subject: Shell Oil

Dan,

I have closed a transaction with Shell Oil with an end date of June 30, 2001.
Please reference O:/COMMON/LEGAL/DHYVL/DJH/CONTRACT/98003DCTR.DOC and
O:/COMMON/LEGAL/DHYVL/DJH/CONTRACT/98003ACTR.DOC

I have extended both agreements but the start dates are one month apart.

Changes to Contract Price:

1) Gas price is IF - HSC less (.01)
2) same (excess priced at GD HSC Mid plus .04 two days after) Daily not
monthly
3) Spot (buyback) Price is Gas Daily Katy Midpoint 2 days after Daily not
monthly

Volume 90,000 mmbtu/d for a year:
If volume is less than 32,850,000 mmbtu at year end, Shell will be billed .10
per mmbtu less than 32,850,000

The first of the month nominated volumes must range between 40,000 - 130,000
per day and be nominated prior to bid week