Message-ID: <25513408.1075840887059.JavaMail.evans@thyme> Date: Fri, 26 Oct 2001 14:38:49 -0700 (PDT) From: f..calger@enron.com To: louise.kitchen@enron.com Subject: RE: Longview DASH Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Calger, Christopher F. X-To: Kitchen, Louise X-cc: X-bcc: X-Folder: \ExMerge - Kitchen, Louise\'Americas\Portland X-Origin: KITCHEN-L X-FileName: louise kitchen 2-7-02.pst The exposure goes up $3MM-$5MM per month up to the equipment contract cost of $67MM for an incremental DASH of approx $49MM (with interest). Chip and I talked about approving the full amount, but checking monthly with you and him as to whether or not we want to continue payments. An alternative is to DASH 2 more months now and formally evaluate our position at year-end. Chris Calger 503-464-3735 -----Original Message----- From: Kitchen, Louise Sent: Friday, October 26, 2001 2:25 PM To: Calger, Christopher F. Subject: RE: Longview DASH How much? -----Original Message----- From: Calger, Christopher F. Sent: Friday, October 26, 2001 4:20 PM To: Kitchen, Louise Subject: Longview DASH Louise, Chip will want to talk with you about the Longview equipment. We are circulating a DASH to enable us to continue making payments. If we do not continue to make payments, we forfeit the equipment and take a $23MM hit. This is approximately 35% of the total equipment contract. I think the equipment is worth more (than 65%) and I believe that we will get out of this problem with less than a $22MM hit. I therefore recommend that we commit the extra $ for this equipment. It will continue to be funded off B/S. We continue to have discussions/negotiations with Calpine, NRG and TransAlta. We have also opened up general equipment discussions with Mirant and AES. Regards, Chris Calger 503-464-3735