Trade Development

In March I left a message for you explaining that I was accepting an offer
from ElPaso. That decision followed my having brought together the pieces of
a project that John Nowland indicated Enron was not prepared to consider and
my subsequent presentation of the project to ElPaso who embraced the deal.

John indicated that the 90 day delay he inserted into our discussions
resulted from your having considered Trammo. I understand that Trammo is no
longer a target for Enron and wondered, therefore, if our getting together
for an hour would be timely.
The industry still presents a target rich environment and you are still the
biggest horse in the race.
Kind Regards,
George Dorsey