Re: Nodocero.com

Mike,

I agree with your assessment on keeping tabs on them but currently I don't
see any real opportunity or decision to spend time or money with this
effort. I have received feedback from others in the group as well and they
agree with our general thinking. Have you talked with Louise lately? We are
announcing today that we will be pushing our pricing to other platforms in
the US (therefore we keep all the liquidity of their markets). Maybe this
will apply to these guys, someday. Certainly it is not appropriate now and
with your domination concerns it might scare them even more.

My time is very limited next week and I am double booked most of the time.
I'm out Wed - Sunday and then the analyst meetings begin after that. I
really don't have time to meet with them especially if there is not real deal
pending. Is there someone else that is more appropriate, maybe someone can
take them through EOL? If you like that, please call Louise and co-ordinate.

Thanks,
Mike

Enron North America Corp.

From: Michael Guerriero @ ENRON 07/12/2000 04:50 AM

To: Mike McConnell/HOU/ECT@ECT
cc: Maria Jose Minguillon/SA/Enron@Enron
Subject: Re: Nodocero.com

I tend to agree with your initial comments. At this point I do not see a
clear opportunity from a value standpoint but I do need to assist these guys
and keep tabs on their development.

To me it looks more like a Streamline or Quick Trade product that is at the
drawing board stage. They are going to Oklahoma on Friday. William's may be
the best group for them to ultimately hook up with.

It is possible that the only thing we can offer this group latter on is a
link to EOL if we so choose that to be advantageous. This market is too small
and there is growing concern that EOL is a looming beast that will dominate
market share. For now I need to continue to foster these projects until one
is successful or EOL is no longer a political concern.

Could you be available for a presentation Monday or Tuesday. I will
participate via conference call.

Your assistance is greatly appreciated.

MFG

Enron North America Corp.

From: Mike McConnell @ ECT 07/11/2000 08:59 PM

To: Michael Guerriero/SA/Enron@ENRON
cc:

Subject: Re: Nodocero.com

Mike,
I just had my schedule changed dramatically for tomorrow and will not be able
to talk. How about Friday @ 10am?
Sorry, but we have a situation I must get involved with and change a
direction.

I did review the email, and passed it on to others. I do not see much from
this site nor how it is actually going to develop real liquidity in the
market. If there are a couple of items that you want me to specifically be
ready for , please send me a couple of comments via email or voicemail.

Thanks,
Mike