Re: February Curve Validation

Jennifer,

NGI-PGE/TOPOCK is an internal curve used to value transport and is equal to
NGI-SOCAL. This curve will probably show up every month because the West
Coast is very volitile. The change is due to a change in the market.

IF-TW/PERMIAN is a production area curve. The change is also due to market
changes that drove up the curve.

Call me if you have any questions. Thanks.

DG 3-9573

From: Jennifer Nguyen @ ENRON 03/21/2001 10:19 AM

To: Darron C Giron/HOU/ECT@ECT
cc: Jeffrey C Gossett/HOU/ECT@ECT
Subject: February Curve Validation

Darron --

Can you or anyone in your group follow up on the curves below?

NGI-PGE TOPOCK
IF-VALERO TX
IF-TW PERMIAN

Thanks,
Jennifer
---------------------- Forwarded by Jennifer Nguyen/Corp/Enron on 03/21/2001
10:16 AM ---------------------------

From: Jennifer Nguyen 03/13/2001 05:21 PM

To: Darron C Giron/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT
cc: Jeffrey C Gossett/HOU/ECT@ECT, Cassi Wallace/Corp/Enron@Enron

Subject: February Curve Validation

Hi guys --

Hopefully these curves are covered between the three of you! Attached are
the 10 curves reviewed for the month of February. Of these 10, the curves in
question are:

NGI-PGE TOPOCK
IF-HEHUB
IF-VALERO TX
IF-NNG TOK
IF-TW PERMIAN
IF-TRANSCO Z1
IF-TENN Z5

If you could, please identify the factors that are driving their drastic
changes in shape and seasonality as compared to the prior month. Please do
not hesitate to contact me with any questions.

Thanks,
Jennifer
x5-7590