Re: colonial

What is the status of this?
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 09/17/99
12:22 PM ---------------------------

Dale Snyder
09/13/99 03:41 PM
To: Mark J Leskowitz/HOU/ECT@ECT
cc: Chad Pennix/HOU/ECT@ECT, Tomas Tellez/HOU/ECT@ECT, Michael
Philips/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
Subject: Re: colonial

thanks mark. reason i asked this morning is that richard sanders needs to
pay to colonial by tomorrow any balances legitimately due colonial by enron.
IF we withheld the usd 250k (tomas?) and lost the 161 then we need to (a)
verify by all enclosed that we owe them (250-161) usd 89k and tell richard
how we pay them (check or transfer or whatever). pls advise today.

To: Dale Snyder/HOU/ECT@ECT
cc: Chad Pennix/HOU/ECT@ECT, Tomas Tellez/HOU/ECT@ECT, Michael
Philips/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
Subject: Re: colonial

(3) Yes, we loss $161 K on the Florida for the Colonial - PGE Sale for the
99,000 barrels we bought from Colonial. Mark

Dale Snyder
09/13/99 10:34 AM
To: Chad Pennix/HOU/ECT@ECT, Mark J Leskowitz/HOU/ECT@ECT, Tomas
Tellez/HOU/ECT@ECT
cc: Michael Philips/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
Subject: colonial

it looks as though we overwithheld about usd 80k that is now due colonial

(1) against their invoice to us of usd 1,089,379.26 i believe we paid them
usd 839,379.26 shortpaying them usd 250k exactly correct Tomas?

(2) we sent colonial documentation (feb 12, 1999 fax from Tomas) showing that
we estimated that they owed us usd 132,752.92 for the barging on the first
(and subsequently only) lifting from colonial to pge correct Tomas?

(3) however we subsequently found that we incurred usd 161,406.59 in total
costs as evidenced by leskowitz's spreadsheet dtd 8/23/99 right Mark?

Chad, Mark, Tomas: can you pls confirm that we would therefore owe Colonial
usd 88,590 correct?