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Date: Mon, 31 Jul 2000 04:06:00 -0700 (PDT)
From: gerald.nemec@enron.com
To: lmarlatt@br-inc.com, choekenga@br-inc.com, lhanse@br-inc.com
Subject: Lost Creek Docs.
Cc: james.hoff@enron.com, shonnie.daniel@enron.com
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Attached is the latest set of documents which have minor revisions based on 
my discussions with Chris last week.  These have been only redlined against 
the prior version, not the original versions.  Let me know if you want 
redlines against the original docs.  The LLC was not included as no changes 
were made from the versions already forwarded.

With respect to the cash out imbalance procedures. The Administrative 
Services Agreement (Exhibit B) currently has a rough procedure for such 
cashout.  It is also written such that the Members can adopt a new procedure 
at any time.  If the current procedures are not sufficient, it probably make 
the most sense to have only a working draft (approved by the members) of 
procedures in place until we have a few month of operations under our belt to 
work out the bugs.  Scott Sitter will be developing this draft.  The 
development of these procedures can be done outside these current revisions.  
A final imbalance procedure would be adopted by written action of the members 
upon development of those final procedures.

Let me know if you have any questions.