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Enron Mail |
Teresa G. Bushman Enron North America Corp. 1400 Smith Street, EB 3835A Houston, TX 77002 (713) 853-7895 fax (713) 646-3393 teresa.g.bushman@enron.com ----- Forwarded by Teresa G Bushman/HOU/ECT on 05/24/2001 05:10 PM ----- Marshall Eubank/ENRON@enronXgate 05/24/2001 05:06 PM To: Marshall Eubank/ENRON@enronXgate, C John Thompson/ENRON@enronXgate, Joan Quick/ENRON@enronXgate, Tricia Spence/ENRON@enronXgate, Avinash Jain/ENRON@enronXgate, Brian Otis/ENRON@enronXgate, Shirley A Hudler/ENRON@enronXgate, Tim Proffitt/ENRON@enronXgate, Teresa G Bushman/HOU/ECT@ECT cc: Subject: RE: KCS II Hedge $26.30 / Bbl -----Original Message----- From: Eubank, Marshall Sent: Thursday, May 24, 2001 4:56 PM To: Thompson, C. John; Quick, Joan; Spence, Tricia; Jain, Avinash; Otis, Brian; Hudler, Shirley A.; Proffitt, Tim; Bushman, Teresa Subject: KCS II Hedge KCS hedged 2 years of production beginning June 01 - May 03 for the proposed VPP. The price was $4.255/MMBTU on 4,974,364 MMbtus and $26.00/Bbl on 70,164 barrels of oil (to be confirmed) Fred LaGrasta's deal with credit and KCS is: (1) ENA has the right to unwind if VPP does not close on or before June 15th and if gain, 25% of the gain to ENA, pursuant to ECR term sheet (2) if legal renders existing netting agreement invalid, then KCS will have to post margin if prices move up and KCS payable to ENA exceeds $250M. Marshall
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