Message-ID: <27876852.1075851002112.JavaMail.evans@thyme>
Date: Wed, 14 Jun 2000 03:01:00 -0700 (PDT)
From: jose.bestard@enron.com
To: james.steffes@enron.com
Subject: Best practices -Regulatory Risk - Cuiaba Story
Cc: steven.kean@enron.com
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Jim. 

You may find this presentation about the Cuiaba story interesting .  I 
developed it March 99 as a training tool for our new developers.  It took me 
through December 99 to negotiate the remaining PPA indexation issues.  There 
are two embedded Word files in the document (Sept 97 logs). From your 
perspective,  you can subtitle it  "make up the regulation on-the-go". Such 
is life in the developing world. When you read the log you will see that 
under the circumstances, you always have one foot in and another out (getting 
ready to terminate) 

Rick Lammers is still continuing to close financing but facing other issues. 
Primarily,  1) construction delays in the pipeline due to governmental 
interference with the route (after getting construction license), 2) 
technical problems with the Siemens turbines, 3) getting consent documents 
out of the public entity bureaucracy, 4) getting the Central Bank to clarify 
the US$ account regulations for the project.

Jose