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Enron Mail |
On Friday, August 4 JB and I had a discussion re: engaging Wisvest in a
dialogue to resolve some of the major issues around the San Antonio project. In that discussion I reiterated what was discussed at the 8/2/00 Board meeting which was: a) we needed to finalize the numbers re: the WMI royalty renegotiation; b) verify the expected EPC costs to complete the project; c) revise the project pro-forma to reflect the revisions in (a) and (b) and d) run sensitivity analyses on the level of subordination Wisvest would have to accept in order to make the project economics viable. In our phone conversation on 8/4/00 we again agreed this was the right course of action to take. Subsequent to that call, JB had conversations w/ Derek Price at Wisvest re: prospective meeting dates and exchanging various info re: the project. In another phone conversation on Monday, August 7, I specifically asked JB whether he had sent the project pro-formas and/or other proprietary info to Derek Price to which JB responded "no." He said he "... sent him summary info ... but did NOT send him the pro-forma ..." I then asked him to forward to me copies of everything he had sent to Derek. What he sent to me was some very basic e-mails and financial summary info. I also asked Derek to forward to me everything JB had sent to him and I got a whole lot more, including the full-blown project model/pro-forma. This has seriously diminished all of our negotiating leverage! On 8/10/00, I became aware of some efforts that appear to involve JB in setting up a South American version of Ecogas (Ecogas S.A.) and called him to inquire as to what was going on. In our phone conversation JB explicitly denied "any involvement" including any "ownership" in such an enterprise. I also asked JB to forward to me by Friday, 8/11/00, copies of any and all documents, agreements, etc... relating to Ecogas S.A. To date he has sent me nothing but an undated DRAFT MOU as well as some misc and meaningless correspondence (undated and/or old e-mails, etc...). None of the info sent is what I asked for on August 4 (complete execution copies of the MOU regarding Ecogas S.A. including ownership interests, etc... as well as copies of Articles of Incorporation for Ecogas S.A., etc...Who is Ecogas S.A.? Where is it currently incorporated? Who are the beneficial owners? Under what authority are you transacting business (what is your title, etc...) JB continues to reference "nothing has been signed, incorporated, etc..." - then why is JB's signature evidenced on an "Amendment" to the "Memorandum of Understanding: Ecogas S.A. - Tortola/JCS"? JB referenced the need to "directing our efforts to resolution of the crisis, rather than continuing personal distractions and devisiveness." For the past couple of months he has been asked to generate cash by selling assets, greenhouse gas emission credits, etc... To the best of my knowledge Ecogas has yet to see one penny! As always there seems to be a direct contradiction between the "stories" and the facts!
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