EnronOnline - Short Term Canadian Physical Deals

I may have a few minor drafting comments but this otherwise looks pretty good
to me. What do you think?
---------------------- Forwarded by Mark Taylor/HOU/ECT on 11/18/99 05:16 PM
---------------------------

Greg Johnston
11/18/99 09:58 AM
To: Mark Taylor/HOU/ECT@ECT
cc: Peggy E Hedstrom/CAL/ECT@ECT, Shari Stack/HOU/ECT@ECT, Jeffrey T
Hodge/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT
Subject: EnronOnline - Short Term Canadian Physical Deals

Mark, I understand that for certain short term Canadian physical deals
completed between ENA and Enron Canada through the facilities of EnronOnline,
ENA and Enron Canada have agreed to transact these deals as physical deals
but book them as financial deals. I was asked to prepare an agreement to be
entered into between ENA and Enron Canada to reflect this agreement. I
attach a copy for your review and comment. Please call me to let me know if
you have any comments at your earliest convenience, as I understand that
there is some urgency in getting this agreement in place.

Thanks

Greg Johnston (403-974-6745)