|
|
Enron Mail |
Have you gotten with Chris Holmes, re: the voice mail I sent you end of last
week? Thanks. Jeff John L Nowlan 10/03/2000 07:44 AM To: Jeffrey A Shankman/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT cc: Subject: Potential Nsea deals thru Chris Harris team FYI, these are the type deals we as a trading group really like as they give us some physical volumes so we can get into that market as well as a financial transaction to make some money. Both sides should be a winner for us. We have worked with Chris on 2 others of these and they have failed due to the variuos reasons but primarily the way the uk tax authorities look at the structures. I will keep you posted on the progress. ---------------------- Forwarded by John L Nowlan/HOU/ECT on 10/03/2000 07:38 AM --------------------------- Chris Glaas 09/28/2000 03:42 AM To: Chris Mahoney/LON/ECT@ECT, John L Nowlan/HOU/ECT@ECT, John Buckner Thomas/LON/ECT@ECT, Mark Jones/LON/ECT@ECT, Michel Decnop/LON/ECT@ECT cc: Subject: Potential Nsea deals thru Chris Harris team F.Y.I. We are helping Chris Harris here in London putting a structure together that can give us crude oil in the Nsea. The idea is that we will buy the crude oil from a North Sea producer to a fixed price. The duration could be for the next 4-6 years depending on how comfy we are with the exposure. By buying future oil to a fixed price at lower numbers than the future curve would suggest and paying upfront (due to time value of money), the producer will end up paying less tax. This has been tried many times before by different banks and never worked. This time Chris Harris thinks that by presenting the correct package it might pass. We will see. However, in case of success, we will have to do two things. 1. sell futures for the next 4-6 yrs, volume could be 25-50' bpd. 2. sell the physical bbls. Number 2 is no problem and depending on the volume I think number 1 should be OK. We might have to hedge thru WTI, but will try Brent. Question: with a deal like this do we need any signatures from above? Chris Harris will be happy to run a full presentation if required. regards chris glaas
|