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  Yr. Paula Rieker
  x 11/21/2000 02:06 PM

EXH067-00131

To: Mark Koenig/Corp/Enron@ENRON
cc:

Subject: Earnings

Here's my report:

  First Albany - Bob Christensen is out of pocket . Left him a detailed message and I expect to talk to
him early next week at the latest.
. Lehman - Very reluctant to move down from $.37/$1.44. We will talk again next week when Rick is in.

• Howard Weil - Becca also reluctant to move down from $.36/$1.44. She would like to "see how Nov.
shakes out" in terms on the markets and we will talk again in mid-Dec.
• Goldman Sachs - Plans to post $.34/.35 in late Dec. We will have another shot at talking before they
post.

I won't go into all the "arguements"/"logic" I have set forth, but have approached this from several
directions. This is by far the toughest its been to reign in estimtes in a long time. The analysts believe we
will beat whatever number we have guided to and they want to be out front, given the ery storng market
conditions.

Are you hearing anything different? Paula

GOVERNMENT
EXHIBIT
  4286
  Crim. No. H-04-25 (S-2)