Ft. Pierce

Ozzie:

As a follow up to our phone conversation, how about scheduling the Ft. Pierce project review meeting during the second week in April? The objective of the meeting is to look at the technical risk in the deal and the mitigation measures we taking. The intended outcome is to ensure all related Enron entities are supportive of the transaction and have had the opportunity to ask questions. This will reduce the chance that we will run into objections down the road on "technical risks" as we begin to ramp up our capital commitments. We had a similar meeting with the Electrobolt team in Enron S. America, that was very productive and accomplished the above objectives.

Do you have a project presentation that you (and/or the lead developer) could discuss with the above team? As many of the technical risk issues are also tied to commercial aspects of the deal we should also cover these areas as well (e.g., commercial objectives and obligations driving the technical design and implementation strategy).

One of the key aspects of the project to discuss is the schedule risk and our strategy for securing a capable construction contractor for the job. Let me know as to your availability, and who else you think should attend the meeting.

Thanks,
Brian