Re: Participation by Enron Canada in Private Placement of Impact

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X-From: Mark E Haedicke
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Thanks.

Greg Johnston
03/08/2001 05:25 PM

To: Mark E Haedicke/HOU/ECT@ECT
cc:
Subject: Re: Participation by Enron Canada in Private Placement of Impact
Energy

Mark, from talking to Kyle I understand that a DASH was not done for this
transaction as it was under the threshhold.

Thanks
Greg

From: Mark E Haedicke on 03/08/2001 11:55 AM CST
To: Greg Johnston/CAL/ECT@ECT
cc:
Subject: Re: Participation by Enron Canada in Private Placement of Impact
Energy

Greg: Thanks. Was a dash done on this? Mark

Greg Johnston
03/06/2001 03:49 PM

To: Donna Lowry/HOU/ECT, Mark E Haedicke/HOU/ECT@ECT
cc: Peter Keohane/CAL/ECT@ECT, Kyle Kitagawa/CAL/ECT@ECT, Derek
Lynn/CAL/ECT@ECT, Mark Powell/CAL/ECT@ECT
Subject: Participation by Enron Canada in Private Placement of Impact Energy

Enron Canada plans to subscribe to a private placement of common shares in
Impact Energy Inc. as a merchant equity investment, which private placement
is closing tomorrow. The acquisition will be made pursuant to a standard long
form subscription agreement. Impact Energy is a publicly traded Canadian
junior oil and gas company (trades on the TSE under the symbol TEY), which
resulted from the reorganization of Startech Energy by and with ARC Energy in
January 2001. Kyle plans on subscribing for 545,455 common shares at a price
per share of CDN$0.55, for total consideration of $300,000.25. Under
Canadian securities legislation, there will be a hold period imposed on the
shares of one year from the date of issuance of the shares, meaning that
Enron Canada will be prevented from reselling the shares in the open market
for one year, unless it resells them pursuant to another exemption from the
prospectus requirements available under such securities legislation. Enron
Canada previously obtained shares in Impact as part of the plan of
arrangement involving Startech and ARC.

Should you require anything further, please either contact myself at
403-974-6745 or Derek Lynn at 403-974-6719.

Thanks
Greg Johnston