Re: BP Oil International Ltd. ("BP")

Unless we begin to see some trading activity, I would consider it inactive.

From: Sara Shackleton on 06/29/2000 08:59 AM
To: Tanya Rohauer/HOU/ECT@ECT, Paul Radous/Corp/Enron@ENRON
cc: Rod Nelson/HOU/ECT@ECT
Subject: BP Oil International Ltd. ("BP")

Rod and I discussed this party (which always appears on the legal/credit
list!!!! It seem that BP signed a Master Agreement (our OLD form) with
ECTRIC on 1/8/98 and agreed to sign THE IDENTICAL AGREEMENT with ENA. Absent
an executed agreement, ENA and BP continue to use a form of "Swap Contract"
which had been agreed to many years ago (similar to our GTC's in the omnibus)
which also provides that the parties will negotiate a master agreement. Rod
doesn't see much current trading activity so we didn't believe this to be a
high priority.

Having said all of this, the form is limited to swaps, doesn't provide for
setoff, arbitration, certain market disruption events and several other items
which we can review if necessary.

Please let me know how you would like to proceed. Thanks. Sara