Message-ID: <13205051.1075854432705.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
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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.