Enron Mail

From:sara.shackleton@enron.com
To:tracy.ngo@enron.com
Subject:WAPA ISDA Request
Cc:stewart.rosman@enron.com
Bcc:stewart.rosman@enron.com
Date:Tue, 20 Mar 2001 05:22:00 -0800 (PST)

Tracy:

I just spoke wtih Stewart about this counterparty and the fact that you
previously prepared credit (for physical trading). Please send a credit
worksheet for financial trading and we can deliver a draft ISDA to the lawyer
per Stewart's instructions. Let me know if you have any questions. Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 03/20/2001 01:18 PM -----

Stewart Rosman
03/16/2001 11:24 AM

To: Sara Shackleton/HOU/ECT@ECT
cc: Steve C Hall/PDX/ECT@ECT, Christian Yoder/HOU/ECT@ECT
Subject: WAPA ISDA Request

Sara -

I would like to discuss with you a potential opportunity at WAPA Sierra
Nevada. We have just sent them an EEI and would like you to send them an
ISDA. Basically in the near future they might find themselves quite short
due to a PG&E contract being invalidated. If that happens they will either:

1. Buy physical power from the market (use our EEI)
2.Do a financial swap with the market and continue to do the physical index
with PG&E (there are some reasons for this which I am not 100% sure on).

The lawyer we have dealt with is Koji Kawamura and his email address is:

kawamura@wapa.gov

Thanks for your help - If you have any questions please let me know.

Stewart Rosman