Subject: RE: Trailblazer
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked]
Date: Thu, 23 May 2002 17:56:47 -0700 (PDT)

Kinder Morgan has wired ENA $34,978.01,  They also provided backup information that the payment was for Trailblazer post petition receivables + interest, and it was the net amount of the following items:

Post Petition A/R Items + Interest:

	$84,296.30	ProRated Demand (December 3-31)
	$90,578.56	Demand (January 1-31)
     ($33,465.04)	Demand (February 1-28) + Capacity Release Revenue (February 7-28)
    ($176,387.83)	Demand (March 1-31) +  Capacity Release Revenue (March 1-31)

Supposedly, TBPL has also sent Ed M. or Ruth a letter describing how things are going to be handled going forward.  Neither Ed or I received the letter so I am asking that TBPL send it again.  By now, ENA should have also received a wire for April business for about $176,000.

Since there is normally a payment lag, I recommend that TBPL immediately pay us $174,874.86 + interest that has been frozen by TBPL for the December and January post petition amounts.  If the court comes back and agrees with TBPL's agruments, then TBPL makes an adjustment on the next invoice to ENA.  It is about the same amount of money.

Ruth

-----Original Message-----
From: Mark Ellenberg [mailto:[email-masked]]
Sent: Thursday, May 23, 2002 6:12 PM
To: Edward Smith; Concannon, Ruth
Subject: Re: Trailblazer

Ruth, please confirm that the $$ have arrived.  Then let's see where we
are.

Mark C. Ellenberg
Cadwalader, Wickersham & Taft
1201 F Street, NW
Washington, DC  20004
202.862.2234

                                                                                            
                    Edward Smith                                                            
                    x5790                To:     Mark Ellenberg/DC/CWT@CWT                  
                    Office:  NY          cc:                                                
                                         Subject:     Trailblazer                           
                    05/23/02 07:09                                                          
                    PM                                                                      

I talked to Philip Bentley, Trailblazer's counsel, today.  I told him that
Enron would not even consider the possibility of exploring settlement
unless Trailblazer turned over the proceeds of the capacity release that it
has been holding.   He said that he would relay that to his client.

Bentley left a message for me tonight.  His message said that he had spoken
to his contact at Trailblazer and that "coincidentally" Trailblazer either
just has or is about to wire the final payment to Enron.  Bentley said that
this was in keeping with "Trailblazer's practice of wiring portions of the
payments as they came in the door."  He said Enron should either already
have the payment or should be getting it soon.  He said that this appears
to eliminate the issue I raised with him today.  He said that the "ball is
back in our court."  He asked me to relay to Enron that this was no longer
an issue and let him know whether there is any interest in exploring
settlement.

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NOTE:  The information in this email is confidential and may be legally privileged.  If you are not the intended recipient, you must not read, use or disseminate the information.  Although this email and any attachments are believed to be free of any virus or other defect 
that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by Cadwalader, Wickersham
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