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Enron Mail |
There is a master agreement in place between ECT and Koch Energy Trading,
Inc. I have never heard of Koch Carbon. My immediate concern is as to the Enron entity. It is not clear to me why Peter thinks this trade is between ECT and a Koch entity since he does not have authority to bind ECT. Alan B Aronowitz 12/01/98 07:34 PM To: Paul Simons/LON/ECT@ECT cc: Mark - ECT Legal Taylor/HOU/ECT@ECT, Scott Sefton/LON/ECT@ECT, Yao Apasu/HOU/ECT@ECT Subject: Deal 8025 Paul: Please call me tomorrow morning Houston time to discuss our preparing a confirmation and other relevant documentation for this petroleum coke-based financial swap transaction with Koch Carbon, Inc. I understand you (and Yao) had worked on a similarly structured coal-based swap a few months ago. Mark: Do we have a financial master with any Koch affiliates? Alan ---------------------- Forwarded by Alan B Aronowitz/HOU/ECT on 12/01/98 06:58 PM --------------------------- Brian Spector 12/01/98 11:20 AM To: Alan B Aronowitz/HOU/ECT@ECT cc: Daniel Reck/HOU/ECT@ECT Subject: Deal 8025 ---------------------- Forwarded by Brian Spector/HOU/ECT on 12/01/98 11:19 AM --------------------------- Enron Capital & Trade Resources Corp. From: PETER SCEATS <SCEATS@tfs-ln.co.uk< 12/01/98 11:13 AM To: Brian Spector/HOU/ECT, "'Mark Luetters @ Koch Petcoke'" <luetterm@kochind.com< cc: Subject: Deal 8025 Here follows the draft confirm for deal no. 8025. Subject to hearing from you otherwise we intend to send you both the hard copy first thing tomorrow. PETCOKE SWAP CONFIRM To : Enron Capital & Trade Resources Corp. 1400 Smith Street Houston TX 77002-7361 Attn : Brian Spector Phone : 713 853 4276 Fax : 713 646 2492 To : Koch Carbon Inc 4111 East 37th Street North Wichita Kansas 67220 Attn : Mark Luetters Phone : 316 828 4412 Fax : 316 828 7946 Date : 1st December 1998 The following deal has been transacted for the above parties' account and risk by TFS Energy (acting as brokers without the responsibility for defaults by other parties) and is subject to credit and counterparty approval. TFS Deal No. : 8025 Trade Date : 1st December1998 Fixed Price Leg Seller : Enron Capital & Trade Resources Corp Buyer : Koch Carbon Inc Benchmark Commodity : High Sulphur Green Coke FOB Gulf Coast Above 50 HGI per Pace Petroleum Coke Quarterly. Duration : 1st December 1998 thru 28th February 1999 inclusive Quantity : 5,000 tons per month, 15,000 tons in total Price : $ 4.15 per ton fixed and flat Floating Price Leg Seller : Koch Carbon Inc Buyer : Enron Capital & Trade Resources Corp Pricing : The price of the floating leg of the agreement shall be the monthly average of High Sulphur Green Coke FOB Gulf Coast Above 50 HGI appearing in Pace Petroleum Coke Quarterly's Green and Calcined Petroleum Coke Price table. Settlement : Monthly. Settlement is due no more than three working days after the price index for each relevant month becomes available. Profit & Loss Limitation : A collar is placed on the deal at $1.00 either side of the fixed price such that the total cash payment/receipt cannot exceed $15,000. Regulation : This contract is governed in accordance with US law. Other and Additional Terms : To be agreed between the counterparties. Commission : 0.03 cents per ton charged to both sides. Broker : Peter Sceats, Manager Coal Dept. TFS Energy East India House 109/117 Middlesex Street London E1 7JF Phone 44 171 375 3780 Fax 44 171 422 9439 Mobile 44 378 863 036
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