Message-ID: <11878439.1075854482485.JavaMail.evans@thyme> Date: Thu, 2 Nov 2000 06:19:00 -0800 (PST) From: david.delainey@enron.com To: richard.lydecker@enron.com Subject: Brigham Cc: jesse.neyman@enron.com, brandi.morris@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: jesse.neyman@enron.com, brandi.morris@enron.com X-From: David W Delainey X-To: Richard Lydecker X-cc: Jesse Neyman, Brandi Morris X-bcc: X-Folder: \David_Delainey_Dec2000\Notes Folders\'sent mail X-Origin: Delainey-D X-FileName: ddelain.nsf Great job guys - keep it coming! Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 11/02/2000 02:18 PM --------------------------- Richard Lydecker@ENRON 11/02/2000 10:07 AM To: David W Delainey/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT cc: Jesse Neyman/HOU/ECT@ECT, Brandi Morris/HOU/ECT@ECT Subject: Brigham We have completed the sale of our Brigham investment for $20.0 million (JEDI/ENA). ENA's net share of the proceeds for $12.5 million. The transaction has been closed and funded and at the book/raptor value. My metaphor for pulling together liquidation transactions of severely distressed assets like Brigham is trying to shield a pencil balanced on its point in the midst of a hurricane. In the case of the Brigham deal the hurricane was a Force Five. Jempy Neyman, who led the transaction, and Brandi Morris, a senior specialist in Special Assets, did an outstanding job getting this tough deal done. The next "balanced pencil" is closing the Basic Energy (Sierra Well Service) sale by mid-November. We're on track: so far, the hurricane has not blown the pencil away.