<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
SHERIDAN ENERGY, INC.
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
823764105
(CUSIP Number)
Julia Murray
General Counsel - Finance
Enron North America Corp.
(formerly Enron Capital & Trade Resources Corp.)
1400 Smith Street
Houston, TX 77002
(713) 853-6161
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 25, 1999
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of ''240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box: /_/
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See '240.13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person=s
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be Afiled@ for the purpose of Section 18 of the Securities Exchange
Act of 1934 (AAct@) or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 18
<PAGE> 2
SCHEDULE
13D
<TABLE>
<S> <C>
- --------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sundance Assets, L. P.
- --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- --------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) /_/
- --------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
==========================================================================================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
--------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,600,000*
--------------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------------------------------------------------------------------
PERSON
10 SHARED DISPOSITIVE POWER
WITH
1,600,000*
==========================================================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,600,000*
- --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.8%*
- --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
* BASED ON INFORMATION CONTAINED IN THE FORM 10-QSB OF SHERIDAN ENERGY, INC.,
FOR THE QUARTER ENDED JUNE 30, 1999 AS OF AUGUST 16, 1999.
Page 2 of 18
<PAGE> 3
SCHEDULE
13D
<TABLE>
<S> <C>
- --------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ENRON NORTH AMERICA CORP. (FORMERLY ENRON CAPITAL & TRADE RESOURCES CORP.)
- --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
==========================================================================================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
--------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,600,000*
--------------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------------------------------------------------------------------
PERSON
10 SHARED DISPOSITIVE POWER
WITH
1,600,000*
==========================================================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,600,000*
- --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.8%*
- --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
* BASED ON INFORMATION CONTAINED IN THE FORM 10-QSB OF SHERIDAN ENERGY, INC.
FOR THE QUARTER ENDED JUNE 30, 1999 AS OF AUGUST 16, 1999.
Page 3 of 18
<PAGE> 4
SCHEDULE
13D
<TABLE>
- --------------------------------------------------------------------------------------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ENRON CORP.
- --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Oregon
==========================================================================================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
--------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 2,600,000*
--------------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
--------------------------------------------------------------------------------------------------------
PERSON
10 SHARED DISPOSITIVE POWER
WITH
2,600,000*
==========================================================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,600,000*
- --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.6%*
- --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
* BASED ON INFORMATION CONTAINED IN THE FORM 10-QSB OF SHERIDAN ENERGY, INC.
FOR THE QUARTER ENDED JUNE 30, 1999 AS OF AUGUST 16, 1999.
Page 4 of 18
<PAGE> 5
SCHEDULE
13D
<TABLE>
<S> <C>
- --------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JOINT ENERGY DEVELOPMENT INVESTMENTS LIMITED PARTNERSHIP
- --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) /_/
- --------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
==========================================================================================================================
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,000,000
---------------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
---------------------------------------------------------------------------------------------------------
PERSON
10 SHARED DISPOSITIVE POWER
WITH
1,000,000
==========================================================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,000,000
- --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
N/A
- --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.9%*
- --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
* BASED ON INFORMATION CONTAINED IN THE FORM 10-QSB OF SHERIDAN ENERGY, INC.
FOR THE QUARTER ENDED JUNE 30, 1999 AS OF AUGUST 16, 1999.
Page 5 of 18
<PAGE> 6
STATEMENT ON SCHEDULE 13D
Note: All information herein with respect to Sheridan Energy, Inc., a Delaware
corporation (the "Issuer"), is to the best knowledge and belief of the
Reporting Entities.
Items 4, 5 and 6 of the joint Schedule 13D of Enron Corp., Enron Capital &
Trade Resources Corp., Joint Energy Development Investments Limited
Partnership, and JEDI Hydrocarbon Investments I Limited Partnership, dated
December 23, 1997, as most recently amended on January 4, 1999 (in part to
include Sundance Assets, L.P. as a Reporting Person thereunder) is further
amended by the addition of the following:
Item 4. Purpose of Transaction; Item 5. Interest in Securities of the Issuer;
and Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
On August 25, 1999, the Issuer entered into an Agreement and Plan of
Merger (the "Merger Agreement") with Calpine Corporation, a Delaware
corporation ("Calpine") and CPN Sheridan, Inc., a Delaware corporation and
wholly-owned subsidiary of Calpine ("CPN Sheridan"), pursuant to which CPN
Sheridan agreed to make an offer (the "Offer") to purchase all of the
outstanding shares of Common Stock of the Issuer (the "Shares") for a purchase
price of $5.50 per Share, net to the seller in cash. The Merger Agreement
provides, among other things, that as soon as practicable after the
satisfaction or waiver of the conditions set forth in the Merger Agreement
(including the tender of a majority of the outstanding Shares pursuant to the
Offer (the "Minimum Condition")), CPN Sheridan will be merged with and into the
Issuer (the "Merger") and the Issuer will continue as the surviving corporation
and wholly-owned subsidiary of Calpine. The Merger Agreement, a copy of which
was filed as Exhibit 2.1 to the Issuer's Current Report on Form 8-K dated August
31, 1999, is incorporated herein by reference in its entirety.
In connection with the Issuer's execution and delivery of the Merger
Agreement, Enron Capital & Trade Resources Corp., Sundance Assets, L.P. and
Joint Energy Development Investments Limited Partnership, together with Jeffrey
E. Susskind, the Chairman of the Board of Directors of the Issuer, B. A.
Berilgen, the President and Chief Executive Officer of the Issuer, and certain
other executive officers of the Issuer (collectively, the "Principal
Stockholders") entered into an Agreement dated as of August 25, 1999
("Stockholders Agreement") with Calpine and CPN Sheridan, pursuant to which the
Principal Stockholders granted to CPN Sheridan an irrevocable option (the
"Stock Option") to purchase, subject to the terms and conditions set forth in
the Stockholders Agreement, the Principal Stockholders' Shares for a price of
$5.50 per Share in cash, or to cause such Shares to be tendered pursuant to the
Offer. Subject to the terms of the Stockholders Agreement, CPN Sheridan has the
right to exercise the Stock Option, in whole but not in part, at any time up to
the 20th business day after the termination of the Merger Agreement in
accordance with the terms thereof.
Pursuant to the Stockholders Agreement, the parties thereto granted
CPN Sheridan an option to purchase, subject to the conditions set forth
therein, for a price of $5.50 per Share, or to cause to be tendered pursuant to
the Offer, an aggregate of up to 3,492,537 outstanding Shares, up to an
additional 425,000 Shares issuable upon exercise of outstanding stock options
and up to an
Page 6 of 18
<PAGE> 7
additional 150,000 shares issuable upon exercise of the outstanding Warrants.
Assuming that the full amount of Shares that are subject to the Stockholders
Agreement are validly tendered and not withdrawn pursuant to a directive from
CPN Sheridan, no additional Shares would be required to be tendered under the
Offer in order to satisfy the Minimum Condition.
The Principal Stockholders' obligations to sell their Shares (other
than by tendering pursuant to the Offer) under the Stockholders Agreement are
subject to the satisfaction of certain conditions, including the accuracy of
CPN Sheridan's representations and warranties set forth in the Stockholders
Agreement, and that CPN Sheridan shall have commenced the Offer. The Principal
Stockholders are not required to tender their Shares in the Offer if the per
Share consideration to be paid by CPN Sheridan pursuant to the Offer is less
than $5.50 per Share in cash.
The Principal Stockholders further agreed to not, directly or
indirectly, solicit, initiate or encourage (or authorize any person to solicit)
any inquiry, proposal or offer from any person to acquire the business,
property or capital stock of the Issuer, or any direct or indirect subsidiary
thereof, or any acquisition of a substantial equity interest in, or a
substantial amount of assets of, the Issuer or any direct or indirect
subsidiary thereof, whether by merger, purchase of assets, tender offer or
other transaction (a "Business Combination Proposal") or, subject to any
fiduciary duties as a director of the Issuer, if applicable, and as further
provided in the Merger Agreement, participate in any discussion or negotiations
regarding, or furnish to any other person any information with respect to, or
otherwise cooperate in any way with, or participate in, facilitate or encourage
any effort or attempt by any other person to make or seek any Business
Combination Proposal. The Principal Stockholders agreed to promptly advise CPN
Sheridan of the terms of any communication it may receive relating to a
Business Combination Proposal if a representative of the Principal Stockholders
having direct working knowledge of the Stockholders Agreement has knowledge of
such communications.
In entering into the Stockholders Agreement, the Principal
Stockholders granted CPN Sheridan a proxy to vote or consent at every annual,
special or adjourned meeting, or solicitation of consents, of the stockholders
of the Issuer (i) in favor of the adoption of the Merger Agreement and the
Stockholders Agreement and approval of the Merger and the other transactions
contemplated by the Merger Agreement and Stockholders Agreement, (ii) against
any proposal for any recapitalization, merger, sale of assets or other business
combination between the Issuer and any person or entity (other than the Merger)
or any other action or agreement that would result in a breach of any covenant,
representation or warranty or any other obligation or agreement of the Issuer
under the Merger Agreement not being fulfilled and (iii) in favor of any other
matter relating to consummation of the transactions contemplated by the Merger
Agreement and the Stockholders Agreement. The Principal Stockholders also
agreed to cause their respective Shares outstanding and owned by them
beneficially to be voted in accordance with the foregoing. The proxy granted
under the Stockholders Agreement is irrevocable, but such proxy will be revoked
upon the earlier of (i) termination of the Stockholders Agreement in accordance
with its terms and (ii) the purchase of the Principal Stockholders' Shares
pursuant to the Offer.
In addition to the foregoing, Enron Capital & Trade Resources Corp.
("ECT"), the holder of all of the issued and outstanding Preferred Stock of the
Issuer, agreed in the Stockholders Agreement
Page 7 of 18
<PAGE> 8
to sell and transfer to CPN Sheridan, and CPN Sheridan agreed to purchase or to
cause Sheridan to purchase and redeem, all of the shares of Preferred Stock, at
a price per share of Preferred Stock equal to $10.10, plus all accrued and
unpaid dividends thereon (whether or not declared), promptly (but in no event
more than one business day) following the consummation of the Offer. If CPN
Sheridan exercises the Stock Option, at the closing of the acquisition of the
Shares pursuant thereto, CPN Sheridan agreed to purchase from ECT, and ECT
agreed to sell to CPN Sheridan, all of the shares of Preferred Stock, at a
price per share of Preferred Stock equal to $10.10, plus all accrued and unpaid
dividends thereon (whether or not declared). Also, Joint Energy Development
Investments Limited Partnership ("JEDI"), which holds Warrants to acquire
150,000 Shares at a purchase price of $5.50 per share (with the purchase price
subject to adjustment as set forth in the Warrants), agreed in the Stockholders
Agreement to transfer and surrender to the Issuer for cancellation for no
additional consideration all of the Warrants, promptly (but in no event more
than one business day) following consummation of the Offer, provided that in
the event CPN Sheridan increases the consideration per Share to be paid
pursuant to the Offer to an amount that exceeds the exercise price of the
Warrants, CPN Sheridan shall pay, or cause the Issuer to pay, to JEDI an amount
equal to the aggregate net in the money value of such Warrants, in connection
with the transfer and surrender thereof.
The Stockholder Agreement, a copy of which was filed as Exhibit 99.1
to the Issuer's Current Report on Form 8-K dated August 31, 1999, is
incorporated herein by reference in its entirety.
None of the Reporting Entities, nor to their knowledge Enron Capital
Corp., Ponderosa Assets, L.P. or Enron Ponderosa Management Holdings, Inc., or
any person listed on Schedules I, II, III or IV hereto, has been, during the
last five years (a) convicted of any criminal proceeding (excluding traffic
violations or similar misdemeanors) or (b) a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, U.S. federal or state securities laws or finding any violations with
respect to such laws.
Other than the transactions described herein, none of the Reporting
Entities, nor to their knowledge ECMLP, ECC, ECMLP II, Ponderosa, EPMH or any
of the persons named in the Schedules hereto, has effected any transactions in
the Common Stock during the preceding sixty days.
Page 8 of 18
<PAGE> 9
Item 7. Material to be Filed as Exhibits.
Exhibit 7 Agreement and Plan of Merger dated as of August 25,
1999 among Sheridan Energy, Inc., Calpine Corporation
and CPN Sheridan, Inc. (incorporated by reference to
Exhibit 2.1 to the Issuer's Current Report on Form
8-K filed with the Commission on August 31, 1999.)
Exhibit 8 Stockholders Agreement dated as of August 25, 1999
among Calpine Corporation, CPN Sheridan, Inc. and
certain stockholders (incorporated by reference to
Exhibit 99.1 to the Issuer's Current Report on Form
8-K filed with the Commission on August 31, 1999.)
Page 9 of 18
<PAGE> 10
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Date: September 3, 1999 SUNDANCE ASSETS, L.P.
By: Ponderosa Assets, L.P.
its general partner
By: Enron Ponderosa Management
Holdings, Inc. its general partner
By: /s/ ANGUS H. DAVIS
--------------------------------------
Name: Angus H. Davis
Title: Vice President and Secretary
Date: September 3, 1999 ENRON NORTH AMERICA CORP. (formerly
ENRON CAPITAL & TRADE RESOURCES CORP.)
By: /s/ ANGUS H. DAVIS
--------------------------------------
Name: Angus H. Davis
Title: Vice President and Secretary
Date: September 3, 1999 ENRON CORP.
By: /s/ ANGUS H. DAVIS
--------------------------------------
Name: Angus H. Davis
Title: Vice President and Deputy Corporate
Secretary
Page 10 of 18
<PAGE> 11
Date: September 3, 1999 JOINT ENERGY DEVELOPMENT
INVESTMENTS LIMITED PARTNERSHIP
By: Enron Capital Management
Limited Partnership,
its general partner
By: Enron Capital Corp.,
its general partner
By: /s/ ANGUS H. DAVIS
-------------------------------------------
Name: Angus H. Davis
Title: Vice President and Secretary
Page 11 of 18
<PAGE> 12
SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS
ENRON PONDEROSA MANAGEMENT HOLDINGS, INC.
Name and Business Address Citizenship Position and Occupation
- ------------------------- ----------- -----------------------
1400 Smith Street
Houston, TX 77002
James V. Derrick, Jr. U.S.A. Director
J. Clifford Baxter U.S.A. Director and Chairman, Chief
Executive Officer and
Managing Director
Kevin P. Hannon U.S.A. President and Managing
Director
Richard B. Buy U.S.A. Managing Director
Andrew S. Fastow U.S.A. Managing Director
Mark E. Haedicke U.S.A. Managing Director and
General Counsel
Michael J. Kopper U.S.A. Managing Director
Jeffrey McMahon U.S.A. Managing Director, Finance
and Treasurer
Page 12 of 18
<PAGE> 13
SCHEDULE II
DIRECTORS AND EXECUTIVE OFFICERS
ENRON NORTH AMERICA CORP.
(FORMERLY ENRON CAPITAL & TRADE RESOURCES CORP.)
Name and Business Address Citizenship Position and Occupation
- ------------------------- ----------- -----------------------
1400 Smith Street
Houston, TX 77002
J. Clifford Baxter U.S.A. Director; Chairman of the
Board; Chief Executive
Officer and Managing Director
Mark E. Haedicke U.S.A. Director; Managing Director
and General Counsel
Kevin P. Hannon U.S.A. Director; President and Chief
Operating Officer
Philippe A. Bibi U.S.A. Managing Director
W. Craig Childers U.S.A. Managing Director
David W. Delainey U.S.A. Managing Director
Richard G. DiMichele U.S.A. Managing Director
Jay L. Fitzgerald U.S.A. Managing Director
Michael J. Kopper U.S.A. Managing Director
John J. Lavorato U.S.A. Managing Director
Danny J. McCarty U.S.A. Managing Director
J. Kevin McConville U.S.A. Managing Director
Jere C. Overdyke, Jr. U.S.A. Managing Director
Gregory F. Piper U.S.A. Managing Director
Brian L. Redmond U.S.A. Managing Director
Jeffrey Shankman U.S.A. Managing Director
John R. Sherriff U.S.A. Managing Director
Colleen Sullivan-Shaklovitz U.S.A. Managing Director
Page 13 of 18
<PAGE> 14
Lawrence G. Whalley U.S.A. Managing Director
Page 14 of 18
<PAGE> 15
SCHEDULE III
DIRECTORS AND EXECUTIVE OFFICERS
ENRON CORP.
Name and Business Address Citizenship Position and Occupation
- ------------------------- ----------- -----------------------
Robert A. Belfer U.S.A. Director; Chairman, President
767 Fifth Avenue, 46th Fl. and Chief Executive Officer,
New York, NY 10153 Belco Oil & Gas Corp.
Norman P. Blake, Jr. U.S.A. Director; Chairman, President
Promus Hotel Corp. and Chief Executive Officer,
755 Crossover Lane Promus Hotel Corp.
Memphis, TN 38117-4900
Ronnie C. Chan U.S.A. Director; Chairman of
Hang Lung Development Hang Lung Development Group
Company Limited
28/F, Standard Chartered
Bank Building
4 Des Vouex Road Central
Hong Kong
John H. Duncan U.S.A. Director; Investments
5851 San Felipe, Suite 850
Houston, TX 77057
Joe H. Foy U.S.A. Director;
404 Highridge Dr. Retired Senior Partner,
Kerrville, TX 78028 Bracewell & Patterson, L.L.P.
Wendy L. Gramm U.S.A. Director; Former Chairman,
P. O. Box 39134 U.S. Commodity Futures
Washington, D.C. 20016 Trading Commission
Ken L. Harrison U.S.A. Director; Chairman and Chief
121 S. W. Salmon Street Executive Officer of Portland
Portland, OR 97204 General Electric Company
Page 15 of 18
<PAGE> 16
Robert K. Jaedicke U.S.A. Director; Professor (Emeritus)
Graduate School of Business Graduate Schoolof Business
Stanford University Stanford University
Stanford, CA 94305
John Mendelsohn U.S.A. Director; President,
University of Texas University of Texas
M.D. Anderson Cancer Center M.D. Anderson Cancer Center
1515 Holcombe
Houston, TX 77030
Charles A. LeMaistre U.S.A. Director; President
13104 Travis View Loop (Emeritus), University of Texas
Austin, TX 78732 M.D. Anderson Cancer Center
Jerome J. Meyer U.S.A. Director; Chairman and Chief
26600 S. W. Parkway Executive Officer,
Building 63; P. O. Box 1000 Tektronix, Inc.
Wilsonville, OR 97070-1000
John A. Urquhart U.S.A. Director; Senior Advisor to the
John A. Urquhart Assoc. Chairman of Enron Corp.;
111 Beach Road President,
Fairfield, CT 06430 John A. Urquhart Associates
John Wakeham U.K. Director; Former U.K. Secretary
Pingleston House of State for Energy and Leader
Old Alresford of the Houses of Commons
Hampshire S024 9TB and Lords
United Kingdom
Herbert S. Winokur, Jr. U.S.A. Director; President, Winokur &
Winokur & Associates, Inc. Associates, Inc.
30 East Elm Ct.
Greenwich, CT 06830
Each of the following person's
business address is:
1400 Smith Street
Houston, TX 77002
Kenneth L. Lay U.S.A. Director; Chairman and Chief
Executive Officer
Page 16 of 18
<PAGE> 17
J. Clifford Baxter U.S.A. Chairman of the Board, Chief
Executive Officer and
Managing Director, Enron
North America Corp.
Richard A. Causey U.S.A. Executive Vice President and
Chief Accounting Officer
James V. Derrick, Jr. U.S.A. Executive Vice President and
General Counsel
Andrew S. Fastow U.S.A. Executive Vice President and
Chief Financial Officer
Mark A. Frevert U.S.A. President and Chief
Executive Officer,
Enron Europe Limited
Stanley C. Horton U.S.A. Chairman and Chief
Executive Officer,
Enron Gas Pipeline Group
Rebecca P. Mark U.S.A. Director; Chairman and
Chief Executive Office,
Azurix Corp.
Lou L. Pai U.S.A. Chairman, President and
Chief Executive Officer,
Enron Energy Services, Inc.
Kenneth D. Rice U.S.A. Co-Chairman and Co-Chief
Executive Officer and
President, Enron
Communications, Inc.
Jeffrey K. Skilling U.S.A. Director; President and
Chief Operating Officer,
Enron Corp.
Joseph W. Sutton U.S.A. Vice Chairman, Enron Corp.
and Chairman, President,
Chief Executive Officer and
Chief Operating Officer,
Enron International Inc.
Page 17 of 18
<PAGE> 18
SCHEDULE IV
DIRECTORS AND EXECUTIVE OFFICERS
ENRON CAPITAL CORP.
Name and Business Address Citizenship Position and Occupation
1400 Smith Street
Houston, TX 77002
J. Clifford Baxter U.S.A. Director and Chairman,
Chief Executive Officer
and Managing Director
James V. Derrick, Jr. U.S.A. Director
Kevin P. Hannon U.S.A. Director, President and
Managing Director
Richard B. Buy U.S.A. Managing Director
Andrew S. Fastow U.S.A. Managing Director
Michael J. Kopper U.S.A. Managing Director
Jeffrey McMahon U.S.A. Managing Director,
Finance and Treasurer
Mark E. Haedicke U.S.A. Managing Director and
General Counsel
Page 18 of 18
