Correction to PG&E Spread Trade

It looks to me like another case of an obvious error (i.e. the counterparty
should have known it was a mistake). I'm afraid we've just been lucky that
the numbers have been so far off - some day we're going to have one that is
too close to call obvious.
----- Forwarded by Mark Taylor/HOU/ECT on 11/06/2000 11:54 AM -----

Torrey Moorer
11/06/2000 11:38 AM

To: Mark Taylor/HOU/ECT@ECT, David Forster/Corp/Enron@Enron
cc:
Subject: Correction to PG&E Spread Trade

I've reviewed the PG&E trade in question again and the spread value is
actually $4.62, rather than $9. Given the fact that a typical spread trade
for Nat Gas is aroung 5 or 6 cents, I know that this correction is not much
of a consolation, but I wanted to clarify the pricing nonetheless.

Deal Number Q75763.1, .2
Leg 1 = 9.38
Leg 2 = 4.76

Spread valueon trade = 4.62

Torrey