Subject: Reserve Release & DPR
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked]
Date: Mon, 17 Sep 2001 09:48:37 -0700 (PDT)

The $95MM profit in Power-Canada on Friday turned out to be release of reserves as well, so total reserve release was $803 MM (vs. the $700 we knew of in Frevert meeting).

$500 Gas
$208 EES
$ 95  Canada Power

5-day P/L $563, so $240 5-day 5-day loss w/o reserve release.

QTD P/L $775, so $28 QTD profit w/o reserve release. 

The $500 Gas & $95 Power reserve releases leaves ~$750 MM in North America's Schedule C & D, although most of that is specific deal reserves. 

Cassandra.