Hess ISDA's

As we just discussed, Hess would like to conclude five (5) ISDA Master
Agreements with Enron companies as follows:

1. Amerada Hess Corporation and Enron North America Corp.
2. Hess Energy Services Company, LLC and Enron North America Corp.
3. Hess Energy Trading Company, LLC and
a. Enron Liquid Fuels, Inc
b. Enron Capital & Trading Resources Singapore Pte. Ltd.
c. Enron Capital & Trade Resources International Corp.

I am told that trading with Amerada Hess Corporation and Hess Energy
Services Company, LLC via Enron On-line is restricted by Enron due to the
lack of an ISDA Master Agreement. Therefore, an expeditious conclusion of
agreement would be most appreciated.

To expedite the negotiations, perhaps we can use the ISDA Master Agreement
between Hess Energy Trading Company, LLC and Enron Capital & Trade Resources
Corp. dated January 29, 1998 as the starting point.

As with January 29, 1998 agreement, Amerada Hess Corporation will be the
Credit Support Provider for Hess Energy Services Company, LLC and Hess
Energy Trading Company, LLC. Attached is the most recent standard form of
guaranty.

<<STANDARD GUARANTY (HESS).doc<<

Please revert at your earliest convenience.

Thank you.

Charles F. Cerria, Esq.,
Manager of Compliance
Telephone (212-536-8531)
Facsimile (917-342-8810)

- STANDARD GUARANTY (HESS).doc