Message-ID: <12753009.1075840890412.JavaMail.evans@thyme> Date: Tue, 17 Apr 2001 14:30:00 -0700 (PDT) From: christopher.calger@enron.com To: louise.kitchen@enron.com Subject: Re: I'm cleaning up the balance sheet still and two new things next to your name Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Christopher F Calger X-To: Louise Kitchen X-cc: X-bcc: X-Folder: \ExMerge - Kitchen, Louise\'Americas\Portland X-Origin: KITCHEN-L X-FileName: louise kitchen 2-7-02.pst That Antelope number was last month (before closing the books on Pastoria). Tri-Valley is a development expense that is being expensed this quarter against Pastoria. Sorry for the confusion. I am waiting on accounting to provide a QI listing of my balance sheet details and related capital charges. Once I have that, you should not have to deal with surprises/discrepencies. Louise Kitchen 04/17/2001 08:46 AM To: Christopher F Calger/PDX/ECT@ECT cc: Wes Colwell/Enron@EnronXGate, Georgeanne Hodges/Enron@EnronXGate Subject: Re: I'm cleaning up the balance sheet still and two new things next to your name Antelope showed up yesterday for the first time on the balance sheet with a charge (on which you will get a capital charge of 15%) of just over $10m. You may want to talk to Wes. Also - what is Tri Valley - its another one under you at $1.2m Louise Christopher F Calger 04/16/2001 05:08 PM To: Louise Kitchen/HOU/ECT@ECT cc: Subject: Re: I'm cleaning up the balance sheet still and two new things next to your name Antelope is a project that we acquired last year from AES. The project has land, some early permits, and a transmission queue position that we used at Pastoria. Total consideration paid to AES was approximately $15MM, most of which was charged to Pastoria. The resulting cost basis should be about $1.8MM plus the ERC's not used at Pastoria (approx. $6MM). Over the next 4 months we will determine whether we want to pursue the project or, if not, write off the $1.8MM and sell/transfer the ERC's for a gain of $1.8MM+. Coyote Springs was a project that we developed and sold in 2000. It was a 280MW 7FA that we co-developed with Portland General and sold pre-construction to Avista for a $18MM promote. There should not be any balance sheet exposure associated with it- we are done. Louise Kitchen 04/16/2001 02:24 PM To: Christopher F Calger/PDX/ECT@ECT cc: Subject: I'm cleaning up the balance sheet still and two new things next to your name What are Antelope and Coyote Springs? Thanks Louise