Message-ID: <29880343.1075852849351.JavaMail.evans@thyme>
Date: Thu, 13 Sep 2001 08:58:51 -0700 (PDT)
From: credit <.williams@enron.com>
To: houston <.ward@enron.com>
Subject: HESCO Collateral requirements
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Williams, Jason R (Credit) </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JWILLI10>
X-To: Ward, Kim S (Houston) </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Kward>
X-cc: 
X-bcc: 
X-Folder: \KWARD (Non-Privileged)\Ward, Kim S (Houston)\HESCO
X-Origin: Ward-K
X-FileName: KWARD (Non-Privileged).pst

Kim -

Here are the credit requirements for additional HESCO deals, per your earlier call:


1.	300/day @ SOCAL border
	Price:  $3.35
	Dec '01 - May '02
	Collateral Requirement:  $100,000

2.	1900/day @ SOCAL border
	Price:  $3.32
	Oct '01 - Sept '02
	Collateral Requirement:  $900,000

3.	500/day @ SOCAL border
	Price:  $3.24
	Oct '01 - Mar '02
	Collateral Requirement:  $165,000

4.	750/day @ PG&E Citygate
	Price:  $3.78
	Aug '02 - Jul '03
	Collateral Requirement:  $375,000

5.	1000/day @ PG&E Citygate
	Price:  $3.68
	Jan '02 - Dec '02
	Collateral Requirement:  $500,000



Just FYI, I priced these collateral amounts to include the receivable exposure that we would wear as well as potential MTM exposure, priced at $0.75/MMBtu.  Please give me a call with any questions.

Thanks,

JRW