RE: call options for the winter and the spring

Doug,

Doesn't look like we're going to be able to do anything with this for right
now. The demand for chemicals has made it necessary to guarantee
production.

Let me know if anything else comes up.

Steve

-----Original Message-----
From: Doug.Gilbert-Smith@enron.com
[mailto:Doug.Gilbert-Smith@enron.com]
Sent: Wednesday, December 20, 2000 1:58 PM
To: stephen_l._madden@oxy.com
Subject: call options for the winter and the spring

Steve,

As we discussed, here are my indicative numbers for a $100
daily call for
the winter and for march and april:

J/F $5.00 MWh
M/A $4.00 MWh

These would be for a firm product. I was thinking that if we
could work on
the structure alittle we could change that to UD with
intraday flexibility.

Please call me to discuss when you get a chance,

Take care,

Doug