Fercinfo2 (The Whole Picture)

Sally - just an fyi... Jeff Hodge requested that we send him the information
below. Evidently, the FERC has requested that several US wholesale companies
provide a great deal of information to them due to the volatility of natural
gas prices the past few weeks (it is being driven by the California
markets). Legal got them agree to simply giving them a weighted average
price of gas on the 11th for delivery on the 12th. It worked out as $24.47
for buys and $18.14 for sales. This is US physical next day only.

Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 12/12/2000 12:39
PM ---------------------------

From: Sheri Thomas
12/12/2000 12:30 PM

To: Jeffrey T Hodge/HOU/ECT@ECT
cc: Bob M Hall/NA/Enron@Enron
Subject: Fercinfo2 (The Whole Picture)

Jeff - please find the average prices below as requested. Detail is attached
- includes both EOL and non-EOL next day physical trades for ENA.

Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 12/12/2000 12:26
PM ---------------------------

From: Torrey Moorer
12/12/2000 12:26 PM

To: Sheri Thomas/HOU/ECT@ECT, Jennifer Denny
cc:
Subject: Fercinfo2 (The Whole Picture)

Avg Buy = $24.46994 per MMBtu

Avg Sale = $18.1445 per MMBtu