EOL Deal With Bad Spread Price

I'm sure you've already been updated on this one, but just in case you
haven't. See below for details.
Joe

From: Torrey Moorer @ ECT
11/06/2000 09:40 AM

To: Bruce Mills/Corp/Enron@ENRON
cc: Mark Taylor/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Jennifer deBoisblanc
Denny/HOU/ECT@ECT, Greg McClendon/HOU/ECT@ECT

Subject: EOL Deal With Bad Spread Price

Hi Bruce,

As per our conversation this morning, I've been looking over EOL deal number
547959 (TAGG deal number Q75763.1) and it looks like a situation that Legal
will definitely need to be advised of in order to determine the most
appropriate course of action. This Nat Gas spread trade's price was set at
better than 9 dollars, which is clearly a bad price, but PG&E is the seller
and they could potentially try to hold us to the trade. Since this sort of
situation could easily lead to problems (both legal and relationship-wise)
with the counterparty in question, I would strongly reccomend getting
guidance from the Legal Department on how best to handle the deal.

I'm sure that Commercial will also be trying to contact Legal regarding this
situation and I will forward this email to them as well. Just let me know if
you have any trouble contacting them from your end and be sure to keep me
informed of any decisions they make. I will do likewise if I hear back from
them first.

Thanks

Torrey