Subject: RE: Letter to Mariner Board Members
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Tue, 4 Dec 2001 12:47:23 -0800 (PST)

Rick,

My views are as follows:

- The sale of the deepwater assets makes sense due to their requirement of significant ongoing capital expenditures; the other assets of the company should also be auctioned off concurrently (although we would retain the right to continue to hold them if the offers received were inadequate); research into our commitments to Lehman as the sales advisor previously needs to be conducted (I have asked Don Miller in Corporate Development to research this).

- The fact that the Mariner severance package is considerably better than the Enron package will be is a significant optical issue and not reducing it may create an issue with the creditors committee for the Enron bankruptcy.

- The extension of employment agreements and consulting agreements, in my opinion, should be for a shorter time period, say to March 31, 2002, again in light of the Enron situation and the optics to the creditors committee.

Dave

-----Original Message-----
From: Buy, Rick 
Sent: Tuesday, December 04, 2001 12:45 PM
To: Gorte, David; Larson, Bradford
Subject: FW: Letter to Mariner Board Members
Importance: High
Sensitivity: Confidential

Any thoughts on this? Rick

-----Original Message-----
From: Cagle, Donna [mailto:[email-masked]]
Sent: Tuesday, December 04, 2001 11:10 AM
To: Melendrez, Jesus; Buy, Rick; Keel, Allan; Josey, Scott D.; Clark,
Richard; 'Bob Henderson'; [email-masked]'; Fox, Craig A.;
[email-masked]'; [email-masked]'
Cc: Zelikovitz, Kelly; Bushman, Teresa G.
Subject: Letter to Mariner Board Members
Importance: High
Sensitivity: Confidential

Please see attached letter from Scott Josey. Thank you.

Donna M. Cagle
Executive Administrator to President & CEO
Mariner Energy, Inc.
580 WestLake Park Blvd., Suite 1300
Houston, TX  77079
281/584-5511 (phone)     281/584-5515 (fax)
[email-masked]

 <<Board Letter 12-4-01.doc>>