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-----Original Message----- From: Tyrone Killebrew <tkill22@yahoo.com<@ENRON [mailto:IMCEANOTES-Tyrone+20Killebrew+20+3Ctkill22+40yahoo+2Ecom+3E+40ENRON@ENRON.com] Sent: Thursday, May 10, 2001 1:51 PM To: PMIMS@ENRON.com Subject: Thank You Patrice, Thank you for the time in answering some I'm sure some of my questions were witless, but I'll assure you that I can be articulate, give me alittle time. If you could, please tell me is there a difference between the execution of longer and short term contracts? Answer: They are generally the same; one of the major differences might be firm or interruptible. The standard duration for a short term might be day to day or one month or less and the long term would be any trade over 30 days. In an effort to get started, the ideal contract to utilize would be the "GISB" contract, which stands for Gas Industry Standard Board. It's just a standard boiler plate contract that "the Board" (comprised of reps from various pipelines, marketing companies, LDC's etc.) put together. It's widely accepted! Just double-check on the firmess of the contract. What is the usual process going from short to longer term contracts? Answer: There is no process, it just depends on what type of trade your end-use customer desires. Can you describe to me in detail what a typical exemplary trade is like? Answer: A trade in which all facts/risks were clearly and accurately represented/communicated and the price is commensurate with the type of trade you are providing (i.e. firm or interruptible). What is the problem that most marketers make with traders? Answer: Misrepresentation, if you don't know and you are not sure, please communicate this to your potential buyer. There is nothing wrong with arranging a conference call with you supplier and end-use customer. We do it all the time, and we don't go around you. Oftentimes, it gives the end-use customer a comfort level, that an experienced, reputable company is backing you. I appreciate your time and you tell me when it's a good time to go to dinner. Answer: I'll have to let you know,take care! Tyrone Killebrew
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