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Enron Mail |
Hello all.
We just received notification that our Bank has received the CAD$3MM out of CAD$8MM originally expected. Thanks Kenny -----Original Message----- From: Kenny Foo [mailto:Kenny.Foo@ngx.com] Sent: Monday, November 26, 2001 1:44 PM To: 'Jason Williams (E-mail)'; 'Randy Otto (E-mail)'; 'Mike Cowan (E-mail)' Cc: 'Louise Kitchen (E-mail)'; Gary Gault; Ron Manitowich Subject: Enron position. Importance: High It has been our understanding (credit area, both companies) that Enron must prepay for all its purchases including all forward positions ever since Enron was downgraded to BBB minus. Unfortunately for Enron Canada Corp., I cannot convince my Board nor my Bank to do otherwise. Enron will still get interest from pre-payments that have not been used to pay for gas that has already been delivered and invoiced. With the above in mind, here is the current status: CAD$ $ carried forward from yesterday 2,725,000 Today's purchases (14,225,000) large part of which is Dec gas Today's wire 8,000,000 which incidentally has not arrived as yet Balance (short) (3,500,000) Jason, kindly * please followup with your Treasury area to see where CAD$8mm is? * please, for today's value date, arrange to send another CAD$3.5mm plus whatever $$ your traders need for tomorrow? * your Calgary traders have another 30TJs of room for day gas at time of writing this email (purchases so far today 3,660TJs). Once the 30TJs is filled, you will be halted. We thank you for your co-operation. Kenny Foo Credit and Risk Manager NGX Financial Inc 140 - 4 Avenue SW, Suite 2330 Calgary, Alberta, T2P 3N3 Ph: (403)974-1737 Fx: (403)974-1719
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