Subject: ENA Q4 Settlement
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Fri, 16 Nov 2001 07:55:01 -0800 (PST)

Dutch,

I am working on pulling together due diligence information for Global Finance in regards to ENA trading activity.  One number that stood out to us on the ENA PRMA detail was the Q4 2000 settlement of approximately negative $500MM.  We discussed possible reasons for this figure with the ENA accounting group, and they suggested it might be the Dec 2000 Nymex settlement, which was more that negative $600MM.  They suggested that I could contact you for further insight.  Would you have a few minutes sometime today to talk about that settlement?

Thanks,
Ben
5-2047