Message-ID: <29754938.1075845000735.JavaMail.evans@thyme> Date: Fri, 3 Mar 2000 02:11:00 -0800 (PST) From: david.delainey@enron.com To: cliff.baxter@enron.com, greg.whalley@enron.com, mark.haedicke@enron.com, richard.sanders@enron.com Subject: Free stuff we want Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: David W Delainey X-To: Cliff Baxter, Greg Whalley, Mark E Haedicke, Richard B Sanders X-cc: X-bcc: X-Folder: \Mark_Haedicke_Oct2001\Notes Folders\All documents X-Origin: HAEDICKE-M X-FileName: mhaedic.nsf This the direction I would like to steer Ft. James. Lets discuss on Monday. Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 03/03/2000 10:08 AM --------------------------- Bob Crane 03/02/2000 05:17 PM To: David W Delainey/HOU/ECT@ECT cc: Subject: Free stuff we want Dave, We would like to have two put swaptions with the following parameters 1. Enron sells 50,000 tons/year financially RISI NBSK US index (pulp) June 2000-May 2005 Fixed price of 675 US$/ton Until 1 May 2000 Enron the right to put the above to FJ 2. Enron sells 50,000 tons/year financially PPW 42# east average (linerboard) July 2000-May 2008 Fixed price of 450 US$/ton Until 1 May 2000 Enron has the right to put the above to FJ Either of the above would make us 10mm over where we are able to sell the swaps out now. Either trade would be immediately cash flow positive upon execution - so I expect FJ shouldn't grimace too much. If both Skeena and Re-Box were to blow up we wouldn't exercize on the linerboard option buy may be able to make 4 or 5 million on the pulp option. We don't have any other "pretty" deals that would enable us to recoup 10mm. If possible I would suggest you get them to look at the above and before any commitment to the swaption is made we should have a better idea of the status of each project. Bob