Interoffice Memorandum
To	Rick Buy, Mark Frevert, Louise Kitchen, John Lavorato, Ted 
	Murphy, David Port, Cassandra Schultz, Jeff Shankman, John
	 Sherriff, Jeff Skilling, File Copy
From	Chris Abel / Kenneth Thibodeaux	Department:	Risk Management
Subject:	Loss Notification	Date:	April 10, 2001
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Please note below the explanation of the loss exceeding risk policy limits as of the close of business April 9, 2001.
Enron - Total Trading
	Notification:	Daily Loss Limit
	Limit:	$125.00 Million
	Daily Loss:	$193.51 Million
	Explanation:	The total loss was driven by Natural Gas trading who has a long California basis position.  
	Prices declined in California due to the PG&E bankruptcy and market liquidation.
Approvals:
Trader	—————————	Risk Assessment and Control	————————
Respect	Integrity	Communication	Excellence