Subject: Enron and NGX
From: [email-masked]
To: [email-masked], credit <[email-masked]>
Cc: [email-masked], [email-masked], [email-masked], [email-masked]
Date: Wed, 21 Nov 2001 12:45:21 -0800 (PST)

Hi Tanya.

We are in the process of perfecting our security interest.  We respectfully
request the following letter from Enron Corporation (on letterhead):

To:  Natural Gas Exchange Inc. and NGX Financial Inc. (collectively,
"Exchange")

We refer to the Contracting Party's Agreement dated September 26, 1994, as
amended from time to time, between Enron Canada Corp. and Exchange, and
specifically refer to the obligation of Enron Canada Corp. to deposit
certain collateral with Exchange on request.  Certain funds have been wire
transferred from our account to Exchange, and we confirm and clarify that
those funds were delivered by us as agent for Enron Canada Corp., and the
deposit of those funds is and is deemed to be a deposit by Enron Canada
Corp.

Dated:

Enron Corporation

Thank you and hope you all have a good Thanksgiving!!

Kenny Foo
Credit and Risk Manager
NGX Financial Inc
140 - 4 Avenue SW, Suite 2330
Calgary,  Alberta, T2P 3N3
Ph: (403)974-1737
Fx: (403)974-1719