Derivative Pricing

---------------------- Forwarded by Larry May/Corp/Enron on 04/10/2001 11:35
AM ---------------------------

Enron Energy Services

From: Roger Reynolds @ EES 04/10/2001 11:31 AM

To: Larry.May@Enron.com
cc:

Subject: Derivative Pricing

---------------------- Forwarded by Roger Reynolds/HOU/EES on 04/10/2001
11:30 AM ---------------------------

Christopher L Connolly
04/10/2001 11:01 AM
To: Roger Reynolds/HOU/EES@EES
cc:
Subject: Derivative Pricing

Mark Jackson needs unwind cost for 11:00 am conference call.
Thanks
Chris
---------------------- Forwarded by Christopher L Connolly/HOU/EES on
04/10/2001 11:00 AM ---------------------------

Mark Jackson
04/10/2001 10:57 AM
To: Christopher L Connolly/HOU/EES@EES
cc: Martin Rodgers/HOU/EES@EES, Barbara Kortes/HOU/EES@EES
Subject: Derivative Pricing

Hi,

We are looking for the following:

EES sells/OC buys a $3.850 NYMEX put swaption for Jan 2002-Dec 2002 expiring
Dec 26, 2001 on 700,000 mmbtu per month. (We need ENA's offer)
EES sells/OC buys a $3.750 NYMEX put swaption for Jan 2002-Dec 2002 expiring
Dec 26, 2001 on 180,000 mmbtu per month. (We need ENA's offer)
EES buys/OC sells a $3.500/$3.000 NYMEX put spread for Apr 2002-Oct 2002. (a
strip of monthly options) on 880,000 mmbtu per month. (We need ENA's bid)

Please call me if you need more info. We need to get the pricing together
within the hour for a phone call with Leff & Delainey.

Thanks very much.

Mark