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PROJECT RAPTOR
As of 5/5/00

		ENA Mkt	ENA			Revised
	Stk	Value	Sharing	Funding	Potential	ENA Mkt
	Price	05/05/2000	Ratio	Vehicle	Upside	Value
Catalytica		46,314,000	100.0%	ENA B/S	43,686,000	90,000,000
First World	$ 12.00	36,000,000	100.0%	ENA B/S		36,000,000
Hanover	$61.125	101,294,516	60.0%	JEDI		101,294,516
Ecogas Debt & Equity		48,039,857	100.0%	ENA B/S		48,039,857
Kafus Equity-Related	$4.1875	56,627,229	100.0%	ENA B/S		56,627,229
Kafus Term Loans A&B		17,128,528	100.0%	ENA B/S		17,128,528
Canfibre IPC's		15,656,643	100.0%	ENA B/S		15,656,643
Cgas		17,371,245	60.0%	JEDI*		17,371,245
Brigham		25,298,250	62.5%	JEDI II		25,298,250
Bonne Terre		16,195,640	62.5%	JEDI II		16,195,640
Industrial Holdings		7,121,810	50.0%	Enserco		7,121,810
Enserco Offshore		5,877,015	50.0%	Enserco		5,877,015
Venoco		43,066,875	62.5%	JEDI II		43,066,875
Juniper		16,878,452	62.5%	JEDI II		16,878,452
Inland		5,102,616	50.0%	JEDI 11		5,102,616
Hughes Rawls Loan		6,802,820	100.0%	ENA B/S		6,802,820
Hughes Rawls Note		784,650	60.0%	JEDI		784,650
Crown Energy		3,020,000	100.0%	ENA B/S		3,020,000
Linder		15,906,970	62.5%	JEDI II •		15,906,970
Sierra Well Service		4,111.146	62.5%	JEDI II		4,111,146
		488,598,262			43,686,000	532,284,262

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