Message-ID: <12673179.1075840889182.JavaMail.evans@thyme>
Date: Mon, 18 Jun 2001 22:39:00 -0700 (PDT)
From: christopher.calger@enron.com
To: john.lavorato@enron.com, louise.kitchen@enron.com, chip.schneider@enron.com, 
	wes.colwell@enron.com, joseph.deffner@enron.com
Subject: Southwest Power Update
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X-From: Christopher F Calger <Christopher F Calger/ENRON@enronXgate@ENRON>
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We are not done.  On Friday when we were prepared to sign, Black Hills Energy Capital said they needed until today to get a signature from their parent, Black Hills Corp.  At noon today they said that the signature was on its way.  At 4:00PM we heard that they will issue a L/C instead of the Corp guarantee.  The L/C approach is fine, but I am concerned with this flaky behavior.

Our plan is to sign the purchase and sale with Black Hills Energy Capital tonight/tomorrow morning.  They would have the obligation to deliver either a gurantee or an L/C for $15MM by Thursday.  If not, we can terminate at any time prior to close of business Monday.  I will update when something changes.

Chris Calger
503-464-3735