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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (6377)	1/31/2002 12:04:33 PM
From: Winkman777	Read Replies (1) \| Respond to of 206089

CPN report released today: news.moneycentral.msn.com "Calpine's 2001 achievements occurred despite the reductions in demand due to the national economic recession and unusually mild weather -- short-term challenges that should not obscure the very real long-term need for new power generating capacity in the markets we serve," continued Cartwright. "We enter 2002 mindful of the many uncertainties in today's economy. While we are focused on continuing to build our capacity to meet long-term power needs, we will do so on an economically sound basis and with disciplined attention to liquidity and evolving conditions in the power markets." ... << A significant event that affected the power industry during the quarter was the Chapter 11 bankruptcy of Enron Corporation and its subsidiaries (Enron). Calpine has no net collection exposure with Enron. A netting agreement is in place, allowing the company to offset the amounts owed by certain of the Enron subsidiaries to Calpine with the amounts Calpine owes tothose subsidiaries. On December 10, 2001, Calpine terminated all contracts with Enron. The company expects to have a net payable to Enron upon settlement. In addition, Calpine's current business with Enron is limited to fully collateralized transactions.>>