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Enron Mail |
I found it!
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on 09/28/99 03:28 PM --------------------------- "Jaime Williams" <jwilli2@ect.enron.com< on 09/22/99 05:46:49 PM To: Rod Nelson/HOU/ECT@ECT, Paul H Racicot/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT cc: Max Yzaguirre/HOU/ECT@ECT, Craig Breslau/HOU/ECT@ECT, Steve Van Hooser/HOU/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT Subject: Comments on SHCP meeting. Steve, I know Peggy is out, but could you help us with a standard bilateral, 1 year C.A. for Secretaria de Hacienda y Credito Publico ? Rod, could you please start drafting the documentation to give direct recourse to the sovereignty of Mexico and set up an ISDA to propose to this people ? Mark, I know Shari is out, so I'll call you to explain this in detail. Paul, I believe Agustin Perez from our Mexico Team will start working with you on quotes and info to keep our presence strong with Hacienda. Thanks and regards. ---------------------- Forwarded by Jaime Williams/MTY/ECT on 09/22/99 04:31 PM --------------------------- Agustin Perez 09/22/99 11:16 AM To: Jaime Williams/MTY/ECT@ECT cc: Subject: Comments on SHCP meeting. We have been having meetings with SHCP officials in the last 3 weeks. SHCP is the government entity that is affected for crude price fluctuations, and has hedged the crude exports from time to time, but they have not implemented a risk management program yet. The volume of Mexico crude exports is close to 600 MM Bbl / year, and they can hedge up to that volume. Yesterday we have a meeting with Carlos Garcia Moreno and Rodrigo Ocejo. It is possible that they already are hedging part of the volume, but they did not said so. They were impressed with Enron's capability of taking the volume (transaction up to 50 MM Bbl) and were interested in Enron's market view for 2000. They are interested in quotes for calls, puts and swaps for Cal 2000, 1st and 2nd half of 2000 and Cal 2001. We do not know yet, what is the financial agent that they use to do this transactions, buy we believe that it can be Nafin or Banco de Mexico. We think it is necessary start working on the ISDA and a Confidentiality Agreement with SHCP asap, in order to be ready when the time comes to close the transaction. We are going to continue meeting these people and start quoting them the periods and instruments they are interested in. Also, we are sending them today a Enron Annual Report. Regards, Agustin Perez
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