Enron Mail |
Are you aware of this?
---------------------- Forwarded by Steven J Kean/HOU/EES on 08/01/2000 07:49 AM --------------------------- Sanjay Bhatnagar@ENRON_DEVELOPMENT 08/01/2000 12:23 AM To: Steven J Kean@EES cc: Subject: Re: Arbitration with Reliance and ONGC ---------------------- Forwarded by Sanjay Bhatnagar/ENRON_DEVELOPMENT on 08/01/2000 12:23 AM --------------------------- Delivery Failure Report Your document: Re: Arbitration with Reliance and ONGC was not delivered to: steven kean because: User steven kean not listed in public Name & Address Book What should you do? You can resend the undeliverable document to the recipients listed above by choosing the Resend button or the Resend command on the Actions menu. Once you have resent the document you may delete this Delivery Failure Report. If resending the document is not successful you will receive a new failure report Unless you receive other Delivery Failure Reports, the document was successfully delivered to all other recipients. EI-NINET01/ENRON_DEVELOPMENT, EI-NINET01/ENRON_DEVELOPMENT, EDC_NMAIL01/ENRON_DEVELOPMENT ________________________ To: Jeffrey Sherrick/Corp/Enron@ENRON cc: Joseph W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob Walls, steven kean, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jimmy Mogal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT From: Sanjay Bhatnagar/ENRON_DEVELOPMENT Date: 08/01/2000 12:08:55 AM Subject: Re: Arbitration with Reliance and ONGC Jeff: This is all Ok after the fact but I would have expected that we would have discussed this before action was taken. For the record, I would not advise calling this an arbitration BUT mediation and I would work with senior government officials and politicians ahead of time to control the fall out that may come about especially since Parliament is in session right now. I will advise our PR group to say nothing to the press but route all queries to you. sanjay Jeffrey Sherrick@ENRON 07/31/2000 06:19 AM To: John Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Larry Morse/Corp/Enron@Enron, Mike Stewart/Corp/Enron@ENRON, Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael J Smalling/HOU/ECT@ECT, Stephen Wallace/Corp/Enron@ENRON, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Phillips/Corp/Enron@Enron cc: Rob Walls/NA/Enron@Enron, James Derrick/Corp/Enron@ENRON, Steven J Kean/HOU/EES@EES, Joseph W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Pam Benson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christina Grow/Corp/Enron@ENRON Subject: Arbitration with Reliance and ONGC I was in India last week meeting with partners and we all agreed that the best thing to do to move ahead regarding the old unrecovered cash calls ("joint interest billings") was to file an arbitration proceeding and get an objective third party to settle the issue. As you know, Reliance and ONGC owe EOGIL approximately $7.1 and $10.3 million, respectively (including interest on non-payment). The arbitration notices reflected only the non-payment numbers which are $5.8 and $7.3 million for RIL and ONGC respectively. We finalized the drafting and dated the notices on July 29th and we delivered the official notice during business hours Monday July 31, 2000. This was the final step in a very long effort to resolve this issue in other means, but as I noted to the OOC after the June meetings this was the only solution in the end. While nobody likes to file arbitration, the good news is in the end all parties seen this as the only solution and as best as I can tell, at least internally ONGC and Reliance support this decision. If the issue gets external, I don't know how any of the parties will respond. Our goal is to keep it as low keyed as possible, but this is India and I would expect someone to try to make a big issue out of it. I will be in contact with John Ambler today to discuss the details of the submittal and to prepare for any response to the media that may be necessary. While both parties were expecting the notice, it may leak into the media over the next few days. Please defer any questions or comments to either John Ambler, Larry Morse or myself regarding this issue. Until John advises us otherwise, our comment will be as follows; " The parties (ONGC, Reliance and Enron Oil and Gas India Limited) have had a dispute on certain cost items and together we have agreed it is best for the joint venture to have this dispute resolved by an independent third party using the guidelines as set forth in the Joint Operating Agreement." Mike Smalling in our office will coordinate this matter with John Ambler and the appropriate staff. I will be available to respond if necessary and my contact numbers are as follows; office-713-853-5934 pager 888-493-1770 cell 713-569-4713 home 281-320-2198 Larry, please make sure our office understands that only you are to comment on this and any other official E&P business in India and Wade/Sanjay would you share this note with the appropriate people in your office so nobody is surprised if something comes up. Mike Smalling, John and/or I will keep you informed of any relevant events. jeff
|