Rev option form

I have revised the option form consistent (except where noted) with comments
sent by Herman and Lisa, and have attached a redline version. Herman, I
dealt with your comment regarding the defn of Optionee by tinkering a little
with the 1st paragraph. I also construed your comment regarding Enron's
right to terminate the option to NOT preclude termination if our counterparty
is in default. Please confirm that this is acceptable.

Lisa, I did not change the notice info since the first entity will the the
project co, with ENA Legal receiving a copy.

Please advise if you have any comments.

Kay