Message-ID: <20115903.1075842099175.JavaMail.evans@thyme> Date: Fri, 16 Jun 2000 10:19:00 -0700 (PDT) From: carol.clair@enron.com To: sara.shackleton@enron.com Subject: Re: IPE Brent language Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: Carol St Clair X-To: Sara Shackleton X-cc: X-bcc: X-Folder: \Carol_StClair_Dec2000_1\Notes Folders\All documents X-Origin: STCLAIR-C X-FileName: cstclai.nsf Sara: This is Greek to me. Can you help? carol ----- Forwarded by Carol St Clair/HOU/ECT on 06/16/2000 05:18 PM ----- =09Souad Mahmassani =0906/16/2000 04:17 PM =09=09 =09=09 To: Carol St Clair/HOU/ECT@ECT =09=09 cc: Susan Flynn/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT =09=09 Subject: Re: IPE Brent language Carol, Please advise on the below matter. I currently have 5 Dated IPE Brent deal= s=20 where a confirm has not gone out yet. =20 Thanks,=20 Susan Flynn@ECT 06/14/2000 05:17 PM To: Carol St Clair/HOU/ECT@ECT cc: Souad Mahmassani/Corp/Enron@ENRON=20 Subject: Re: IPE Brent language Carol - can you respond to this for Souad? Thank you! Susan D. Flynn Enron North America Corp. 1400 Smith Street, EB3806 Houston, Texas 77002 Phone: 713-853-0975 Fax: 713-646-3490 ----- Forwarded by Susan Flynn/HOU/ECT on 06/14/2000 05:06 PM ----- =09Souad Mahmassani =0906/14/2000 04:02 PM =09=09 =09=09 To: Susan Bailey/HOU/ECT@ECT =09=09 cc: Susan Flynn/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT =09=09 Subject: Re: IPE Brent language Susan=20 We need your help on this language. Please see the below blue paragraphs,= =20 particularly "Common Pricing" clause. =20 London wants us to add this in our Dated vs IPE brent spreads. This allows= =20 the settlement of the deal to be based on only good business days for both= =20 indices. =20 We got the permission from our (ENA) trader to use the languange in the bel= ow=20 ENA-ECTInternational deals, but we are not sure about all other Dated vs IP= E=20 brent deals. Our trader has agreed to this because he has no position, but= =20 ECTInternational is going to want this clause in all similar spread deals. = =20 Please advise =20 =09Enron North America Corp. =09 =09From: Larry Joe Hunter @ ECT 06/09/2000 09:30= AM =09 To: Sheetal Patel/HOU/ECT@ECT, Souad Mahmassani/Corp/Enron@ENRON cc: =20 Subject: Re: language? =20 Souad/Sheetal, Do not revise these deals. Show this language to our Crude guys. We have= =20 had a problem recently with the below. The "Common Pricing" clause below= =20 would mean that when IPE is closed then the price Platt's publishes that da= y=20 would be void. Our guys do not like that ideology. Therefore, check with= =20 them before doing this. Also, we should get approval from legal before usi= ng=20 the below. Joe Sheetal Patel 06/09/2000 09:18 AM To: Souad Mahmassani/Corp/Enron@ENRON cc: Larry Joe Hunter/HOU/ECT@ECT=20 Subject: Re: language? Hi Souad, The following deal numbers need to be revised. They need to have the blue= =20 language below in the confirms. Let me know if you have any questions. NJ1204 NJ1271 NJ1285 NJ1296 Thanks, Sheetal :) ---------------------- Forwarded by Sheetal Patel/HOU/ECT on 06/09/2000 09:= 15=20 AM --------------------------- From: Christopher Shapland on 06/09/2000 08:54 AM GDT To: Sheetal Patel/HOU/ECT@ECT cc: =20 Subject: Re: language? =20 Sheetal I'm sorry - here you are! Floating Price: The mean of the arithmetic average of the daily high and low quotations for= =20 Crude Oil Assessments published in the table entitled =01&Crude Price=20 Assessments: International US$/BBL: Brent (DTD)=018 in the issue of Platt= =01,s=20 Crude Oil Marketwire that reports prices effective for such Business Days= =20 during the Determination Period minus the average of the daily settlement= =20 prices for the prompt month of the IPE Brent Futures Contract for each=20 Commodity Business Day/Trading Day for the applicable Determination Period,= =20 with the exception of the last Commodity Business Day/Trading Day of the=20 prompt month on which day the settlement price for the Second Nearby Month= =20 will be used.=20 Common Pricing: Pricing to be effective only on the days when both the IPE is open and Plat= ts=20 publish their dated Brent assessment. Cheers Chris :) Sheetal Patel 08/06/2000 22:51 To: Christopher Shapland/LON/ECT@ECT cc: =20 Subject: language? Hi Chris, I have not received any language from you. Just wanted to make sure you=20 didnt forget. =20 Thanks, Sheetal :)