Message-ID: <32348222.1075854846493.JavaMail.evans@thyme> Date: Fri, 24 Aug 2001 07:32:45 -0700 (PDT) From: m..presto@enron.com To: rogers.herndon@enron.com Subject: RE: PIRA Draft Report Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Presto, Kevin M. X-To: Herndon, Rogers X-cc: X-bcc: X-Folder: \Presto, Kevin M (Non-Privileged)\Presto, Kevin M.\Sent Items X-Origin: Presto-K X-FileName: Presto, Kevin M (Non-Privileged).pst I lost $2 million in new deal P&L putting the spread on because they have their curves so srewed up. With respect to your question, I think the answer is yes because I can sell 02 on-line by controlling the stack (limit orders) and the coal group will sell 03-04 at $35/ton. I now own this at $32 because they mis-mark their curve in 04 by $4.00/ton (ie negative $2 million in new deal P&L.) The bottom line is it was painful putting that spread on. -----Original Message----- From: Herndon, Rogers Sent: Friday, August 24, 2001 9:26 AM To: Presto, Kevin M. Subject: RE: PIRA Draft Report can you get any more of that spread? -----Original Message----- From: Presto, Kevin M. Sent: Friday, August 24, 2001 9:24 AM To: Herndon, Rogers Subject: RE: PIRA Draft Report Good info. Consistent with reports from McGowan. I am now short 02 at $39/ton and long 03-04 at $32.50/ton. Love the spread given my view of natty. Since the report is almost identical to info I have received from McGowan, I don't see any pressing need to call Alan. You are certainly free to call him if you want. -----Original Message----- From: Herndon, Rogers Sent: Friday, August 24, 2001 9:03 AM To: Presto, Kevin M. Subject: PIRA Draft Report Kevin - I just received this. You may want to read it and we can give Alan a call if you like. Rogers -----Original Message----- From: "Allan Stewart" @ENRON [mailto:IMCEANOTES-+22Allan+20Stewart+22+20+3Castewart+40pira+2Ecom+3E+40ENRON@ENRON.com] Sent: Friday, August 24, 2001 8:21 AM To: Pradhan, Salil Cc: Herndon, Rogers Subject: RE: Request for Information/Status Report I have attached a copy of a draft section to our upcoming eastern grid for your comment. I would be interested in your views of our views. Regards, Allan Stewart - COALEast.doc << File: COALEast.doc >>