latest update on BP Margin Collar deal

---------------------- Forwarded by Zimin Lu/HOU/ECT on 11/10/2000 11:56 AM
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From: Lee Jackson 11/10/2000 10:40 AM

To: Bob Lee/NA/Enron@Enron, Zimin Lu/HOU/ECT@ECT
cc: Douglas S Friedman/HOU/ECT@ECT
Subject: Margin Collar

I wanted to give you the status on the BP margin collar deal. We submitted a
bid to BP yesterday where BP would pay Enron just under $5 MM to assume the
contract. We have yet to have further discussions, so there's not much more
to report than that. We greatly appreciate your help on this project. I
feel like we put together a very good bid, and measured the risks
appropriately with limited time. I will keep you informed of how the
negotiations proceed.

Thanks again,

Lee Jackson