projects update

Vince,

A quick project update.

1. Sandeep and I spoke with Robert Schenck in Adelaide. He will email a
Henwood proposal to us. They already figured that we must be interested in
modelling Dabhol.
2. The WTI EOL trading simulation had an error. We were counting a
mid-offer spread profit on each trade, but we actually would make the spread
on each round-trip transaction (one trade to open, one trade to close). I
modified the calculation and sent the new numbers to Greg Whalley (he is the
one who caught the mistake, so there goes my bonus for the year.) and John
Lavorato. I should probably re-run the earning volatility numbers, and
update Ted Murphy as well.

--Stinson