Re: Can Fibre

fyi
---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 02/14/2000
02:52 PM ---------------------------

Tracy Ngo
02/14/2000 01:16 PM
To: Elizabeth Sager/HOU/ECT@ECT
cc:
Subject: Re: Can Fibre

The current physical power trading exposure is ITM $741,187. Below is a
detail of the past due invoices for Can Fibre.

Tracy
---------------------- Forwarded by Tracy Ngo/HOU/ECT on 02/14/2000 01:15 PM
---------------------------

Tracy Ngo
02/09/2000 11:25 AM
To: Randy Petersen/HOU/ECT@ECT
cc: William S Bradford/HOU/ECT@ECT

Subject: Re: Can Fibre

Below is an email from our power settlements group detailing the outstanding
A/R from Can Fibre.

Tracy
---------------------- Forwarded by Tracy Ngo/HOU/ECT on 02/09/2000 11:24 AM
---------------------------

Enron North America Corp.

From: Rebecca M Grace 02/09/2000 08:36 AM

To: Tracy Ngo/HOU/ECT@ECT
cc: Leslie Reeves/HOU/ECT@ECT

Subject: Re: Can Fibre

Tracy,

Here is the information you requested on Canfibre. This is the Power
information only - if you need any updated gas information contact Alicia
Jones in Gas Settlements or her direct supervisor Michelle Stevens.

Call me if you have any questions.

Rebecca

Tracy Ngo
02/08/2000 05:25 PM
To: Rebecca M Grace/HOU/ECT@ECT
cc:
Subject: Can Fibre

Randy Petersen, VP in our Underwriting Group, is meeting with CanFibre
tomorrow afternoon (Wed. Feb 9th). He has asked if we can pull together the
outstanding A/R amounts, date invoiced, and any other pertinent information
he can take with him to the meeting.

Can you gather this information Wednesday morning and let me know when that
will be available?

Thanks,
Tracy
x3-0554
---------------------- Forwarded by Tracy Ngo/HOU/ECT on 02/08/2000 05:23 PM
---------------------------
From: Chris H Foster on 02/08/2000 10:32 AM
To: Kevin McConville/HOU/ECT@ECT
cc: Jake Thomas/HOU/ECT@ECT, Rebecca M Grace/HOU/ECT@ECT, Tracy
Ngo/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT

Subject: Can Fibre

Kevin:

I work in Portland in West Power tradng and have day-to-day responsibility
for managing the Can Fibre account. Since this deal started in Sept. they
have only paid one invoice and that was paid 16 days late. They are
currently 57 days late on one outstanding invoice and 29 days late on
another. They have failed to come up with $ despite two "heart-to-heart"
discussions with Dale Hrcak about this issue. Stone and Webster, the firm
building their Riverside plant, I guess controls the cash during this
start-up period and Dale cannot get them to release funds. They seem
disorganized and fail to give us straight answers on when we will be paid.
If Enron did not own a piece of this company I would be talking to credit and
legal about whether or not Can Fibre is in default and what steps we should
take to require collateral and/or termiante this agreement. Instead, Jake
Thomas indicated that I should talk to you re: next steps. Could you give me
a call at 503/464-3822 and give me uyour thoughts?

Thanks!

Chris