Re: United Oil & Minerals -Amended Credit W/S

No sleeping on the job.......

MARY COOK
09/27/2000 08:29 AM
To: Russell Diamond/HOU/ECT@ECT
cc:
Subject: Re: United Oil & Minerals -Amended Credit W/S

The file was MIA because it was with me at home!!! However, with all good
intentions, I instead fell asleep! Tana I will stop by this morning. Mary

Enron North America Corp.
Mary Cook
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com

Russell Diamond
09/27/2000 07:34 AM

To: Tana Jones/HOU/ECT@ECT
cc: Samantha Boyd/NA/Enron@Enron, Mary Cook/HOU/ECT@ECT
Subject: Re: United Oil & Minerals -Amended Credit W/S

Thanks Tana,

We actually need another redraft, that now corresponds to the worksheet and a
parent guaranty.

Thanks
Russell

From: Tana Jones on 09/26/2000 06:18 PM
To: Russell Diamond/HOU/ECT@ECT
cc: Samantha Boyd/NA/Enron@Enron
Subject: Re: United Oil & Minerals -Amended Credit W/S

Russell,

I spoke to the cpy about this, and what it turned out he wanted was the
Local Currency ISDA form. I gave that redraft to Mary to sign off on the
same day I wrote that note, but she's been too busy to look at it, and the
file is now MIA from her office. I'll check with her tomorrow and she what
she did with it.

Russell Diamond
09/26/2000 05:53 PM

To: Samantha Boyd/NA/Enron@Enron
cc: Tana Jones/HOU/ECT@ECT
Subject: United Oil & Minerals -Amended Credit W/S

Samantha,
Tana,

I have attached an amended credit worksheet for the referenced counterparty.
This amended worksheet includes a Guaranty from its parent company of $5MM,
thus increasing the collateral threshold to $5MM, and amending other credit
covenants.

Per the Legal Comment in the Master Swap Lotus Notes Database, Tana received
a call from the counterparty requesting a 'less complicated' agreement. In
the comment, Tana suggested using an Industrial Master, if this agreement is
OK from a Legal standpoint, I am OK using the Industrial from a Credit
standpoint.

Please draft this amended credit worksheet to an amended Industrial Master.

Thank you,

Russell