Enron Mail

From:drew.fossum@enron.com
To:martha.benner@enron.com
Subject:ETS Hedged and Open Positions/Financial Exposure Positions
Cc:
Bcc:
Date:Mon, 11 Dec 2000 00:07:00 -0800 (PST)

pls print. thanks df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 12/11/2000
08:03 AM ---------------------------


Debbie Moseley
12/08/2000 04:16 PM
To: Bob Chandler/ET&S/Enron@ENRON, Paul Cherry/GPGFIN/Enron@ENRON, John
Dushinske/ET&S/Enron@ENRON, Dan Fancler/ET&S/Enron@ENRON, Jeffery
Fawcett/ET&S/Enron@ENRON, Lee Ferrell, Drew Fossum/ET&S/Enron@ENRON, Steve
Gilbert/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Rod
Hayslett/FGT/Enron@ENRON, Gerrad Heep/AA/Corp/Enron@Enron, Stanley
Horton/Corp/Enron@Enron, Danny McCarty/ET&S/Enron@Enron, Mike
McGowan/ET&S/Enron@ENRON, Kent Miller/ET&S/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Heather Mueck/AA/Corp/Enron@ENRON, Dave
Neubauer/ET&S/Enron@ENRON, Jerry Peters/NPNG/Enron@ENRON, Tony
Pryor/ET&S/Enron@ENRON, James Saunders/FGT/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON
cc:

Subject: ETS Hedged and Open Positions/Financial Exposure Positions

Please Note:

We have changed the correlation of the Transwestern's hedges to the same
index(El Paso Permian) that the derivatives were transacted. We feel it is
appropriate to make this correlation change due to management's anticipation
to make the 2001 sales at an El Paso Permian index. Due to this change TW
has a perfect correlation, therefore the associated Value at Risk will be
zero.