Subject: RE: Maclaren Energy Inc.
From: [email-masked]
To: [email-masked]
Date: Mon, 19 Nov 2001 12:21:14 -0800 (PST)

Thanks for your help, Peter.  Mark has reviewed and we are sending a response today.

Stephanie Panus
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  [email-masked]

 -----Original Message-----
From: 	Keohane, Peter  
Sent:	Monday, November 19, 2001 11:21 AM
To:	Panus, Stephanie
Cc:	Taylor, Mark E (Legal); [email-masked]'
Subject:	Maclaren Energy Inc.

Please prepare the following response, and copy Dalton McGrath of Blake, Cassels & Graydon, for Mark Taylor's signature:

"We are writing in reply to your letter of November 16, 2001.  There simply has been no change in the manner or methodology by which the Floating Price for the referenced Transaction has been, and continues to be determined.  Your correspondence and the previous correspondence from your client represents a thinly veiled attempt to renegotiate a transaction without any basis in fact, law or good faith for so doing.  We expect the referenced Transaction to be performed in accordance with its terms, and intend to enforce and pursue all of our remedies in the event of any non-performance by your client.

Please forward all of your future correspondence on this matter to the attention of Mr. Dalton McGrath, Blake, Cassels & Graydon, 3500, 855-2nd Street SW, Calgary, Alberta, T2P 4J8, Fax: 403.260.9654."

____________________________________
Peter C.M. Keohane
Vice President, Assistant General Counsel
and Secretary
Enron Canada Corp.
Phone:	(403) 974-6923
Fax:	(403) 974-6707
E-mail:	[email-masked]