Subject: Re: Kafus memos
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Mon, 31 Jul 2000 04:28:00 -0700 (PDT)

Travis:

In addition to the documents you forwarded from Sharon Sullo, I have obtained 
the following from Stephanie Balette and Sharon Sullo:

1. Internal Memo from Lynn Bellinghausen to Wynne Snoots and Marshall Eubank 
dated October 13, 1997 re: Due Diligence Review - The Woodson Companies;

2. Internal Memo from Marshall Eubank, Don Rollins and Becky Caudle to John 
Hopley, dated November 1, 1999, re: Transcoastal Marine Services;

3. Internal Memo from Lynn Bellinghausen to Wynne Snoots and Marshall Eubank 
dated July 31, 2000 re: Due Diligence Review - Transcoastal Marine Services, 
Inc.;

4. Internal Memo from Christine Granda and Don Rollins to Wynne Snoots and 
Marshall Eubank dated October 9, 1997 re: Due Diligence Report - Red Fox 
Companies;

5. Internal Memo from Rick Carson and Sharon Erwin to Wynne Snoots and 
Marshall Eubank dated October 13, 1997 re: Due Diligence Review - HBH, Inc.;

6. Internal Memo from Sonya Gasdia to Wynne Snoots and Marshall Eubank dated 
October 13, 1997 re: Due Diligence Review - CSI Hydrostatic Testers, Inc.;

7. Internal Memo from Don Rollins and Sharon Erwin to Marshall Eubank and 
Brent Bechtol dated December 29, 1998 re: Due Diligence Review - TCMS;

8. FitchIBCA Power Point Presentation dated May 5, 2000 -- marked 
CONFIDENTIAL;

9. FitchIBCA Power Point Presentation dated July 24, 2000 -- marked 
CONFIDENTIAL;

10. Excel spreadsheet entitled Updated Values dated as of July 11, 2000

11. Word document entitled Asset Update Final, undated.

Additionally, I received two bound presentations from Stephanie which she 
tells me were (1) marketing material that went to potential investors and (2) 
tear sheet book that went to the rating agencies.

I have placed a call to Deb Korkmas to obtain the closing documents you 
referenced in your e-mail and I left a voice mail for you regarding the 
documents you indicated you had.

Would you like to review any or all of the above documents before I forward 
them to our outside counsel?  If not, I will forward these documents to John 
Frizzell today.  Please let me know your preference.

Linda

	Travis McCullough
	07/29/2000 01:28 PM
		 
		 To: Linda R Guinn/HOU/ECT@ECT
		 cc: 
		 Subject: Kafus memos

Linda -- per my e-mail, here is what the due diligence team prepared on Kafus 
deals.

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3817
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490      
----- Forwarded by Travis McCullough/HOU/ECT on 07/29/2000 01:27 PM -----

	Sharon E Sullo
	07/28/2000 04:40 PM
		 
		 To: Travis McCullough/HOU/ECT@ECT
		 cc: Rick L Carson/HOU/ECT@ECT
		 Subject: Kafus memos

Hi Travis,

Rick asked me to send you our Kafus memos.  I am not sure the scope of what 
you are looking for, so if you need more information, please let us know.  We 
have compiled quite a bit of information on this deal, including formal 
memos, summaries of employment and consulting agreements and summaries of the 
company.  I will send you all three, but please realize that only the formal 
memos are finalized, as I will note below.  Please let me know if I can help 
further.

Thanks,

Sharon Sullo
x31946

Memos:

The following are summaries of agreements (we have copies of these agreements 
if you need them):

The following are summaries of Kafus Companies that we focused on.  These are 
incomplete.  Several items are open because we were put on hold on this due 
diligence process, but thought they might be useful to you: