Term Sheet Proposal

Gerald:

Can we talk early next week re: the below Bison contract. enovate, L.L.C.
needs to make a decision really soon about contracting for space on Bison
pipeline and before we make the decision, I need to see how interested
producers are in selling us their gas in the Power River Basin. Hopefully we
can talk on Monday or Tuesday at the latest. Let me know what time works
best for you.

Thanks!

Barbara Dillard
(312)541-1232

----- Forwarded by Barbara G Dillard/Corp/Enron on 02/02/2001 03:53 PM -----

Barbara G Dillard
01/31/2001 05:07 PM

To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: Term Sheet Proposal

Gerald:

Per our recent conversation, attached is the Term Sheet Proposal that I would
like to present to certain producers in the Powder River Basin. enovate,
L.L.C. is looking at purchasing space on both the Bison Pipeline (should be
in service 11/03) and Northern Border Pipeline. After you review, please
feel free to call me at (312)541-1232 with questions. enovate, L.L.C. would
like to pay producers a Chicago Net-back price for the gas in the Power River
Basin.

Thanks for your help!!

Barbara Dillard