Subject: GTB Payment status
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Date: Fri, 21 Dec 2001 15:35:07 -0800 (PST)

We met with GTB representatives yesterday and today, and worked out an agreement in principle for an assignment of our contract to a replacement contractor.  The commercial terms have been tentatively agreed to, pending GTB management approval.  The other terms and conditions are generally agreed to, and the actual wording is in draft form; the expectation is to execute the letter agreement by 31 December 2001.  Also, GTB expects to execute their agreement with the replacement contractor by 11 January 2002, with the assignment from EPCSC to be effective then.

GTB agreed to pay their past due invoices by 26 December 2001.  A payment schedule, with conditions and target dates, was agreed to for the balance of payments.  All are targeted to be paid during January 2002.

Enron Pipeline Construction Services Company (EPCSC) received no payments since last week's report.  The total paid to date is $4,058K (EPCSC's portion remains at $3,476K).    

Nine EPCSC invoices remain past due, and the following is a summary of the GTB payments "in process" (either debit noticed or invoiced), along with their forecasted due dates:

Due Date	Amount

04 Jan		$  131K		Invoice:  Yacuses Construction Progress - November
05 Jan		$    28K		Invoice:  Rio Grande delivery to jobsite
05 Jan		$     4K		Invoice:  Yacuses Solar Engineering - November
05 Jan		$     9K		Invoice:  Chiquitos Solar Engineering - November
05 Jan		$     6K		Invoice:  Izozog Solar Engineering - November
05 Jan		$     3K		Invoice:  Robore Solar Engineering - November

TOTAL	            $  181K

Past Due	Amount

30 Nov		$  439K		Invoice:  Chiquitos Drawing Package Issued for Approval
30 Nov		$  220K		Invoice:  Yacuses Delivery of Major Equipment
14 Dec		$      4K		Invoice:  Yacuses Solar Engineering - October
14 Dec		$      8K		Invoice:  Chiquitos Solar Engineering - October
14 Dec		$      1K		Invoice:  Izozog Solar Engineering - October
14 Dec		$      6K		Invoice:  Robore Solar Engineering - October
14 Dec		$  150K		Invoice:  Yacuses Construction Progress - October
14 Dec		$  594K		Invoice:  Izozog NTP Equipment Specification
14 Dec		$  596K		Invoice:  Robore NTP Equipment Specification

TOTAL	            $  2,017K

If anyone has questions about the status or the agreement, please call me any time at 713-557-0982.

Thanks,
Jerry