Message-ID: <10165304.1075859033102.JavaMail.evans@thyme>
Date: Wed, 29 Aug 2001 13:22:45 -0700 (PDT)
From: eric.gadd@enron.com
To: tracy.geaccone@enron.com, michael.ratner@enron.com
Subject: Asset Development 2002 Budget
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Tracy and Michael,

Here's the revised budget.  Michael, please assess the timing of capital draw downs (eg, quarterly spends) against the IBIT target to make sure we have synchronized estimates.  I assume that capital drawn down during Q1 would require 4/4ths of IBIT requirement, Q2 would require 3/4ths of IBIT requirement, etc.  The current numbers indicate all capital would be drawn down in Q1, which is not the case.