Stinson,

Just want to give you a quick update about the current projects on my plate,
so that you can update your blackbroad

1) WTI trading simulation V.2, ready for you to review
2) Storage valuation for Paul Bieinawski (new)
3) Product production margin modeling for Doug Friedman (new)
     need to model explicitly the jump piece.  Some new ideas for discussion.
4) eSpeed warrant valuation for Randy Petersen (new)
5) Correlation skew for Larry May
6) Credit exposure model, Alex finished the coding, testing next

Have you had a chance to review Brad's back testing results for the storage 
model ?


Zimin