Message-ID: <19628383.1075858007311.JavaMail.evans@thyme>
Date: Tue, 14 Nov 2000 20:13:00 -0800 (PST)
From: gburnsie@email.msn.com
To: whalley@enron.com
Subject: 
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Thank you for arranging the meeting  yesterday.
In rough outline I described a trading activity  where the activity would 
include 2-3 million tons per annum of ammonia with  similar volumes in each 
of the other primary items handled which would include  phosphate 
rock,sulfuric acid,DAP,urea,urea ammonium nitrate solutions,and  sulfur. In 
the course of our discussion it was correctly noted that the scope of  the 
base trading income anticipated would fall in the range of $50-$70million  
per annum and? that was short of the mark you would like to see in your  
evaluation.?
I would comment that there will be better years but  to average much above 
these objectives will be unlikely in these markets as they  exist today.
To find more on a consistent basis we would need to  anticipate investments 
in bricks and mortar.?There will be many  opportunities (terminals, shipping, 
handling, production) where we will find a  IRR over 20 with an exit strategy 
of less than five years. These are  opportunities above and beyond the base 
trading income anticipated.
I am posting to you a copy of the data distributed  yesterday.If I can answer 
any questions please let me know.
Kind regards
George Dorsey
gburnsie@aol.com
713 302 2047??