Form of Option Agreement

Here is the form of option agreement Kathleen sent me yesterday. Greg Krause
has a meeting with a landowner tomorrow and he wants to be able to provide
our pro forma form for the landowner's consideration.
---------------------- Forwarded by Ann Elizabeth White/HOU/ECT on 05/18/2001
04:09 PM ---------------------------

Enron North America Corp.

From: Kathleen Carnahan @ ENRON 05/18/2001 03:27 PM

To: Ann Elizabeth White/HOU/ECT@ECT
cc:
Subject: Form of Option Agreement

Ann Elizabeth,

Lisa Bills has requested some additional changes to the "form" of Option
Agreement I sent you yesterday. If you will e-mail the form of Option
Agreement for the new Florida Option to Kay Mann, she will make the necessary
changes. Also Ben Jacoby has indicated that wants to see all new Option
Agreements prior to them being sent out to anyone so he can be in the loop.

Sorry you missed our meeting.

Kathleen

---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 05/18/2001
03:06 PM ---------------------------

From: Kathleen Carnahan 05/17/2001 02:42 PM

To: Ann Elizabeth White/HOU/ECT@ECT
cc:

Subject: Form of Option Agreement

Ann Elizabeth,

This may not be the absolute latest Form of Option, but it should be pretty
darn close to being totally blessed (by Herman Manis). I am also attaching a
form of Memorandum of Option just in case you need it.

Kathleen