RE: PX credits & Schedule F in the PG&E bankruptcy

Bob:

Bill Bradford and I have a phone call with PG&E at noon tomorrow. We will
advise everyone of what we learn.

Michael

-----Original Message-----
From: Williams, Robert C.
Sent: Wednesday, May 23, 2001 5:33 PM
To: Tribolet, Michael; Buy, Rick; Gorte, David; Bradford, William S.; Kean,
Steven; Shapiro, Richard; Steffes, James; Kingerski, Harry; Koenig, Mark;
Palmer, Mark; Denne, Karen; Haedicke, Mark; Mellencamp, Lisa; Sager,
Elizabeth; McCullough, Travis; Sharp, Vicki; Smith, Mike; Curry, Wanda;
Dasovich, Jeff; Mara, Susan; 'byoung@llgm.com'; 'jklauber@llgm.com'; Whalley,
Greg; Lavorato, John; Delainey, David; Dietrich, Janet; Sunde, Marty; Leff,
Dan
Subject: RE: PX credits & Schedule F in the PG&E bankruptcy

Michael, how can we get with PG&E to determine where the discrepancy lies?

-----Original Message-----
From: Tribolet, Michael
Sent: Wednesday, May 23, 2001 3:02 PM
To: Buy, Rick; Gorte, David; Bradford, William S.; Kean, Steven; Shapiro,
Richard; Steffes, James; Kingerski, Harry; Koenig, Mark; Palmer, Mark; Denne,
Karen; Haedicke, Mark; Mellencamp, Lisa; Sager, Elizabeth; McCullough,
Travis; Sharp, Vicki; Smith, Mike; Williams, Robert C.; Curry, Wanda;
Dasovich, Jeff; Mara, Susan; 'byoung@llgm.com'; 'jklauber@llgm.com'; Whalley,
Greg; Lavorato, John; Delainey, David; Dietrich, Janet; Sunde, Marty; Leff,
Dan
Subject: PX credits & Schedule F in the PG&E bankruptcy

PG&E filed their Schedule F which displays its nonpriority unsecured claims.
Many of the claims were listed as unknown in amount. The PX credit amounts
were listed as disputed. Two PX credit amounts were specified in the
Schedule F:

Enron Energy Marketing $201,964,905.64
Enron Energy Services $ 19,737,979.97
Total disclosed PX credit $221,702,885.61

Note that in the claims that were listed as unknown in amount, none were
described as PX Credit in nature.

Two points to be made: 1) this information is now public (but on page 5,066
of 17,096 on a CD), along with $53,985,167 in other Enron related claims, and
2) our calculation of the PX credit was $392,416,534 at the beginning of May.

Regards,

Michael