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BENEFITS TO ENRON SUMMARY

Deal Name: Bob West Treasure (EEX) Dollar Amount: $3 million
Date Completed: 12/29/99
Description of Transaction: Purchase of 90% of the 3% equity in Bob West Treasure,
the counterparty to a prepay agreement on approximately 63 Bcf with EEX

Enron Business Unit Benefited: ENA

Did the deal result in a direct or indirect benefit to Enron: Direct and Indirect

Primary Benefit: Recognize earnings on a pre-pay contract

Funds Flow Direct: $3.3 million Funds Flow Indirect: $101.7 million

Earnings Direct: $5.0 million Earnings Indirect:

Fees Saved : $65,000

Other equity investors bidding on the transaction
1. None
2.
3.

* indicate whether our purchase was on the same terms as the other equity purchasers

Did the deal close with LJM? yes

If not, why?

*indicate whether the reason was driven by Enron or LIM.

Other benefits to Enron :
• Speed of execution (year-end 1999 deal that closed in approximately 2 weeks)
• Sell down of Enron's equity in Bob West allowed ENA to mark-to-market gains
on the prepay contract
• As amendments to the Bob West LLC agreement have been needed, LJM has
been accomodating and has back-dated documents as necessary

Compiled by: Chris Loehr

EXH 021-00677

CONFIDENTIAL TREATMENT REQUESTED
By Dechert on behalf of its client

DP 036699

GOVERNMENT
EXHIBIT
  1830
  Crim. No. H-04-25 (S-2)