RE: Wholesale Power and Gas Trading operation

OK - Tim did say he blew up trading options in the West. Played the "premium is profit" game selling summer calls at Palo Verde and we all know what happened. Bye Bye Ricky.
-----Original Message-----
From: Herndon, Rogers
Sent: Friday, December 14, 2001 9:26 AM
To: Presto, Kevin M.
Subject: RE: Wholesale Power and Gas Trading operation

I think he is pretty smart guy, especially with fairly advanced deals. Likes to trade and did ok. I am not sure what his history is, may have blown up somewhere before but I am not sure. I have kept him on. I would get Harry to talk to him unless Harry has no interest. I toild him to write to you guys because as far as I could see he would not ne joining a NewCo - this is his plea for a look.

rh
-----Original Message-----
From: Presto, Kevin M.
Sent: Friday, December 14, 2001 9:21 AM
To: Herndon, Rogers
Subject: FW: Wholesale Power and Gas Trading operation

Your thoughts on this guy?
-----Original Message-----
From: Wurlitzer, Rick
Sent: Thursday, December 13, 2001 10:33 AM
To: Presto, Kevin M.; Arnold, John; Arora, Harry
Subject: Wholesale Power and Gas Trading operation

8214 Colonial Oaks Lane
Spring, Texas 77379

December 13, 2001
Regarding: energy trading positions

To Kevin Presto, Harry Arora, and John Arnold:

I am writing to you to express my desire to be apart of the Wholesale Power and Gas Trading operation that will potentially be created with an entity that has a high credit rating. I have been working for Rogers Herndon in Enron Wholesale Services on the Options Desk. In this role I have modeled the power options that are embedded in the various deals done through Enron Energy Services with large industrial and commercial clients. In addition, I profitably managed the positions and priced deals for structurers and originators. I realize that now is a difficult time but am confident that I would make an excellent addition to your team for several key reasons:

? Proven experience in the financial markets and direct trading experience in various markets, including electricity and natural gas, mortgage backed securities, U.S. Treasury securities, foreign exchange, EuroCurrency and EuroDollar deposits
? Team player and high work ethic, successfully balancing trading opportunities with managing risk
? Solid portfolio management and risk management experience in electricity and mortgage banking
? Five years direct experience in trading, risk management, structured products and marketing of electricity for the United States
? Actively involved in the physical markets and strong understanding of the western grid
? Experience trading OTC forwards and options at major hubs in other NERC regions such as Cinergy, Entergy, ERCOT, NEPOOL and PJM
? Worked for both unregulated power marketers and regulated utility
? Extensive experience in derivatives and structured products
? Ability to effectively work with marketers pricing and structuring deals for industrial and commercial end users of energy
? Strength in mentoring junior traders

Thank you,

Rick J. Wurlitzer

Home: (281)251-6210, Work: (713)853-5049
E-Mail: Home: r.wurlitzer@att.net <mailto:r.wurlitzer@att.net<, Work: rwurlitz@enron.com