Message-ID: <21879001.1075842283000.JavaMail.evans@thyme> Date: Wed, 25 Apr 2001 06:13:00 -0700 (PDT) From: dan.hyvl@enron.com To: darren.vanek@enron.com Subject: RE: Haldor Topsoe Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Dan J Hyvl X-To: Darren Vanek X-cc: X-bcc: X-Folder: \Dan_Hyvl_Dec2000_June2001\Notes Folders\Sent X-Origin: HYVL-D X-FileName: dhyvl.nsf Darren, There are no previous confirmations. You have one single purpose contract that was done in 1994 that has a primary term through 8/31/02. What do you mean "preceding confirmations". Confirmations are only done under trading type master contracts. That does not apply to the current contract with Haldor. You should become familar with the current contract before you request changes to that deal. Darren Vanek/ENRON@enronXgate 04/25/2001 11:53 AM To: Dan J Hyvl/HOU/ECT@ECT cc: Subject: RE: Haldor Topsoe Dan, I am under the impression that this Master Physical Contract will supercede any preceding confirmations.Please correct me if I am wrong. -----Original Message----- From: Hyvl, Dan Sent: Wednesday, April 25, 2001 11:16 AM To: Vanek, Darren Subject: RE: Haldor Topsoe Darren, Please reread. This confirm covers the period 9/1/02 - 8/31/04. The current deal stays in effect until 8/31/02. Let me know about the hyphen. That is the way they signed the last contract. You have their published financials, How is it in the signature portion of those. Darren Vanek/ENRON@enronXgate 04/25/2001 10:58 AM To: Dan J Hyvl/HOU/ECT@ECT cc: Subject: RE: Haldor Topsoe Dan, Everything looks good. In the openning paragraph, I think that "Haldor-Topsoe" should not have the hyphen. Am I correct in assuming that this master supercedes all existing confirms? -----Original Message----- From: Hyvl, Dan Sent: Wednesday, April 25, 2001 10:29 AM To: Vanek, Darren Cc: Lamphier, Gary Subject: RE: Haldor Topsoe << File: 2001-015ctr.doc >> Note that the previous contract is terminated 8/31/02 in the new agreement and the new confirm is attached at the end of the new agreement. Any comments??? Darren Vanek/ENRON@enronXgate 04/24/2001 03:02 PM To: Gary W Lamphier/HOU/ECT@ECT cc: Dan J Hyvl/HOU/ECT@ECT Subject: RE: Haldor Topsoe Please allow me to review the terms of the Master before we send the draft. -----Original Message----- From: Lamphier, Gary Sent: Tuesday, April 24, 2001 2:53 PM To: Vanek, Darren Cc: Hyvl, Dan Subject: RE: Haldor Topsoe Darren, Haldor Topsoe has agreed to terms of 110% of IF-HSC through August 31, 2004. I will have legal prepare the Master physical and the confirmation. From: Darren Vanek/ENRON@enronXgate on 04/17/2001 11:59 AM To: Gary W Lamphier/HOU/ECT@ECT cc: Subject: RE: Haldor Topsoe As long as we have the Master executed, you can do the extension. -----Original Message----- From: Lamphier, Gary Sent: Tuesday, April 17, 2001 11:19 AM To: Vanek, Darren Subject: RE: Haldor Topsoe I understand the physical agreement is a must. However, my real question is regarding a two year extension. From: Darren Vanek/ENRON@enronXgate on 04/17/2001 09:39 AM To: Gary W Lamphier/HOU/ECT@ECT cc: Subject: RE: Haldor Topsoe Gary the ONLY way that we can do these deals is AFTER the signing of the Master Physical Agreement. -----Original Message----- From: Lamphier, Gary Sent: Monday, April 16, 2001 7:00 PM To: Vanek, Darren Cc: Lamphier, Gary Subject: Haldor Topsoe Darren, I am going to send three options to Haldor Topsoe to choose from; all three will require a master physical: 1) Leave current deal at 125% Index and add 1200 mmbtu/d new volumes through 8/31/2002 @ 115% Index 2) Price existing deal and new volumes through 8/31/2002 @ 120% Index 3) Show a variety of floors and collars to reduce the index percentage through 8/31/2002 for all volumes. I believe I have approval for these three options. MTM value for all options should calculate to be around $230,000. However, now is an outstanding time to increase the value to Enron by extending this deal another two years and hence doubling the MTM value. They will not transact at these levels two years from now without us having to put facilities in the ground. Please consider a two year extension or tell me what requirements would have to be met to do this. Thanks, Gary From: Darren Vanek/ENRON@enronXgate on 04/16/2001 04:36 PM To: Gary W Lamphier/HOU/ECT@ECT cc: Jason R Williams/ENRON@enronXgate Subject: RE: JER/BRE Austin Tech Gary, As I stated before, I will forward a new worksheet to Dan Hyvl for JER/BRE, but we are NOT to enter into another transaction until the document is executed. Seeing as JER wanted to fix a price this week, I think that it will be difficult to get this deal completed. Please follow up with Wayne at JER. In addition, I am forwading a worksheet for Haldor Topsoe as well. We can NOT enter into the new transaction with additional volumes with them until their master is signed as well. If you have any questions please call. -Darren -----Original Message----- From: Lamphier, Gary Sent: Monday, April 16, 2001 4:21 PM To: Vanek, Darren Subject: Re: JER/BRE Austin Tech ---------------------- Forwarded by Gary W Lamphier/HOU/ECT on 04/16/2001 04:20 PM --------------------------- << OLE Object: Picture (Device Independent Bitmap) >> From: Russell Diamond 01/10/2001 11:08 AM To: Dan J Hyvl/HOU/ECT@ECT cc: Gary W Lamphier/HOU/ECT@ECT Subject: Re: JER/BRE Austin Tech Dan, See attached. << File: JER-BRE Austin Tech.xls >> ---------------------- Forwarded by Russell Diamond/HOU/ECT on 01/10/2001 11:03 AM --------------------------- << OLE Object: Picture (Device Independent Bitmap) >> From: Russell Diamond 01/10/2001 10:32 AM To: Dan J Hyvl/HOU/ECT@ECT cc: Gary W Lamphier/HOU/ECT@ECT Subject: Re: JER/BRE Austin Tech << OLE Object: StdOleLink >> Hey Dan, Gary, Gary entered into this transation to sell this counterparty 1,000 mmbtu/d at an Index related price with a Put option of $3.50 and a premium of 0.095. As I understand it, Gary will never be buying gas from his counterparty and this is the only transaction he plans on doing with the counterparty. If this is the case, I would think only a Master Sales agreement would be needed instead of a Master Purchase Sale Agreement and thus a Credit Worksheet is not needed. Please let me know if this is not the case. Thanks Russell << OLE Object: Picture (Device Independent Bitmap) >> Enron North America Corp. From: Gary W Lamphier 01/09/2001 01:51 PM To: Dan J Hyvl/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT cc: Subject: Re: JER/BRE Austin Tech << OLE Object: StdOleLink >> Russell, Please let Dan know you have approved this deal. << OLE Object: Picture (Device Independent Bitmap) >> Dan J Hyvl 01/09/2001 11:37 AM To: Gary W Lamphier/HOU/ECT@ECT cc: Russell Diamond/HOU/ECT@ECT Subject: Re: JER/BRE Austin Tech << OLE Object: StdOleLink >> Gary, Credit has a hold on this deal. As you are aware, we need a credit worksheet before we can generate the proposed contract. If you can get Russell Diamond to issue a credit worksheet to me, I will be glad to start work on the request. Gary W Lamphier 01/09/2001 11:13 AM To: Dan J Hyvl/HOU/ECT@ECT cc: Subject: JER/BRE Austin Tech Dan, Did we ever send a contract out ot these guys? I know we discussed it but I bet I never requested a contract. Let me know.