Pending Issues

Priority schedule for Brent and Andrea, as of Wednesday 17th
Here is the order we will work on documents and issues:

HIGH. Mike Guerrieros lease agreement. (Andrea is working with landlord,
realtors, outside counsel and Mike on closing the lease agreement this week=
.)
HIGH. Review new CAMMESA power regulations.
HIGH. Vitra gas sale offer (Andrea working with John to finalize outstandi=
ng
items in draft offer.)
HIGH. Bolivia, working on finalizing contract format for Crazy Molecule
project, Andrea going over Master Gas Sale Agreement and Services Agreeme=
nt
with Steve Elison.
HIGH. Bolivia, Outside counsel is working on creating a contract draft for=
=20
the
25% option gas for Cuiba based on the termsheets.
HIGH. Bolivia, working with outside counsel to create legal entity for Cra=
zy
Molecule and to determine the optimal structure for creating a legal presen=
ce=20
in
Bolivia for SCG to purchase the linepack and 25% option gas for Cuiba.
HIGH. Bolivia, Preparing confidentiality agreement for Vintage.
HIGH. Update powers of attorneys for signing documents, checks and review=
=20
need
for modifying officers and directors. Andrea co-ordinating Banking POA=01%=
s and
intermediate range POA=01%s with George Frumkin.
HIGH. Y2K mission critical plan and meetings (Julie Ramos to contact the
commercial team (Juli?n, Gaby and John) and coordinate the things need to =
be
done in Argentina. Andrew Willis to reply Brent=01%s email concerning our a=
nswer=20
to
Aeropuertos Argentina 2000?s letter.)
HIGH. Review of issues relating to Renault request for public hearing at t=
he
ENARGAS. (Andrea will be working on that together with Guille and John)

MED. Ferrum and ICI Power (Need to draft supply contract for last 3/6 mont=
hs)
MED. Seeking return of final portion of deposit on Scott Porter's and Bill
Butler's apartments. Outside counsel is now pursuing our claims.
MED. Respond to latest Ecogas note (Guille made the response. Enargas has =
to
reply.)
MED. Total spot contracts (Final document sent to counterparty for=20
signature.)
MED. Central Puerto MOU (Sent to counterparty for review.)
MED. Bagley pursuing meeting with ENARGAS issue (John to follow up to see =
if
Bagley has met with ENARGAS Directors)
MED. Power Sales to IMASA (Physical Bypass. Old agreement with Albanesi=20
should
not prevent new agreement with IMASA)
MED. Review the dispute resolution provisions in all our contracts.
MED. Working on final draft of trader guidelines with Sara for financial
transactions.
MED. Review of tax decrees on derivatives in Argentina. Working with Lynn=
=20
Aven
in the ESA tax group.
MED. Brent and Sara working with Lynn Aven on tax risk analysis in creatin=
g=20
ESA
swap trading entity.
MED. Update gas and power templates.

LOW. Pursue request for distribution service for Enron from BAN. Timing i=
s=20
an
issue.
LOW. Review of status of EPCA in purchasing and selling natural gas
LOW. Power Sales. Acindar (physical option and swap option / Closing of de=
al=20
is
depending on Arcor deal) On hold?
LOW. Central Puerto 10 year gas termsheet. On hold?
LOW. Minera Alumbrera. On hold?
LOW. Tax question on legal status of ECEASA if it doesn't pay taxes pending
award of tax exemption (review Steve's lawsuit issues for relevance to our
request for exemption)
LOW. Trading contract audit by ENA trading committee.
LOW. Draft of the Broker Agreement format.

We will try to get to all the priorities, but will not likely be able to
complete everything today. If anyone wants to change the priority categori=
es=20
or
add to the list please let me know so we can discuss our schedule.