GE 7FA

Chris, I would get Mark or Louise involved at this point - if it is mission
critical let me know.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/15/2001
12:26 PM ---------------------------

Christopher F Calger
02/15/2001 10:58 AM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: GE 7FA

Dave,

A DASH will be circulating later today for approximately $16MM for $10MM of
progress payments on a 7FA and certain development costs for our Longview
Project. Chip Schneider and I have agreed that this approach allows us to
get to NTP on the project (up until August 20), or determine a higher-valued
use for the turbine in the event the development does not get finalized for
some reason. Given the strength of the PNW market, this project is in the
money using Enron mid curves for gas and power.

Mike Miller has appropriately backed away - my team is engaged directly with
GE on the contract negotiation and a term sheet is expected to be signed
tomorrow.
I am highly confident that this will result in a 2001 gain of $15MM-$20MM.

I was planning to talk with Louise about this at our call this morning. Are
you or she the appropriate signor for EA? I will also contact Mark Frevert
early this afternoon to discuss.

Regards,

Chris