Message-ID: <3753803.1075840070076.JavaMail.evans@thyme>
Date: Mon, 5 Jun 2000 08:13:00 -0700 (PDT)
From: jeffrey.shankman@enron.com
To: rick.buy@enron.com, mark.frevert@enron.com, john.lavorato@enron.com, 
	ted.murphy@enron.com
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Cc: jeff.skilling@enron.com, joseph.sutton@enron.com
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As you know, the ENA gas floor came in with a $30 million VAR position 
today.  Even though this left us with another $10 million of unused VAR, I 
want to make you aware that we may exceed our VAR limit today. This move up 
was much bigger than the market anticipated, and natural gas volatility was 
up quite a bit. The VAR calculation is now kicked off at 2:00am and we will 
know our VAR position by 6:00am.  If we are over, I will need to ask for a 
one day increase.  I have already told the desk heads that we will most 
likely need to sell some contracts tonight and tomorrow.  

Jeff