##### 



Exhibit 99.2 (RALPH E. DAVIS ASSOCIATES INC) DOMINION BLACK WARRIOR BASIN 1994-l THE ROYALTY INTERESTS ESTIMATED RESERVES AND NON ESCALATED FUTURE NET REVENUE REMAINING AS OF
JANUARY 1,2004 RALPH E. DAVIS ASSOCIATES, INC.
    
    HOUSTON, TEXAS




---



##### 



(RALPH E. DAVIS ASSOCIATES INC) TABLE OF CONTENTS ITEM ENGINEERING LETTER RESERVES DEFINITION SUMMARY OF ALL RESERVES ONE LINE SUMMARY, ALL RESERVES BY WELL NAME AND NUMBER




---



##### 



RALPH E. DAVIS ASSOCIATES, INC.
CONSULTANTS-PETROLEUM AND NATURAL GAS
1717 ST. JAMES PLACE-SUITE 460
HOUSTON, TEXAS 77056
(713) 622-8955 February 11,2004 Black Warrior Basin Trust 1994-I
c/o Bank of America
P.0. Box 830650
Dallas, Texas 75283  Attn:
    Mr. Ron E. Hooper
Sr. Vice President, Royalty Management Re: Estimated Reserves and Non Escalated Future
Net Revenue Remaining as of January 1, 2004
Dominion Black Warrior Basin Trust 1994-1 Gentlemen: At your request the firm of Ralph E. Davis Associates, Inc. of Houston, Texas
has prepared an estimate of the natural gas reserves on specific leaseholds in
which Dominion Black Warrior Basin Trust 1994-1 (the Trust) has certain
interests. The interests evaluated are a royalty interest ownership position
applicable to specific gas properties in the Black Warrior Basin, Tuscaloosa
County, Alabama. This report presents our estimate of the proved reserves
anticipated to be produced from those leaseholds. The reserves associated with these estimates have been classified in accordance
with the definitions of the Securities and Exchange Commission as found in Rule
4-10(a) of regulation S-X of the Securities Exchange Act of 1934. We have also
estimated the future net revenue and discounted present value associated with
these reserves as of January 1, 2004, utilizing a scenario of non escalated
product prices as well as non escalated costs of operations, i.e., prices and
costs were not escalated above current values as detailed later in this report.
The present value is presented for your information and should not be construed
as an estimate of the fair market value. The results of our study may be summarized as follows: Consultants to the Petroleum and Natural Gas Industries Since the 1920s




---



##### 



RALPH E. DAVIS ASSOCIATES, INC. Dominion Black Warrior Basin Trust 1994-1
Mr. Ron E. Hooper
    
    February 11, 2004
Page 2
 Non Escalated Pricing Scenario
Estimated Reserves and Future Net Income
Net to Dominion Black Warrior Basin Trust 1994-1
As of January 1, 2004 Total ProvedNet Remaining Sales Gas Reserves:Gas: Mcf
    
    
    41,585,734Future Revenue:Sales Revenue
    
    $
    225,561,125Tax Credit Revenue
    
    
    0Total Revenue
    
    $
    225,561,125Production Taxes
    
    $
    13,533,669Other Deductions
    
    
    0Future Net Income
    
    $
    212,027,453Future Net Income Discounted @ 10%
    
    $
    117,284,438
 The Section 29 Tax Credit that was in effect in previous years is no longer
applicable as of January 1, 2003. Gas volumes are expressed in millions of standard cubic feet (MMSCF) at the
official temperature and pressure bases of the areas wherein the gas reserves
are located. DATA SOURCE Basic well and field data used in the preparation of this report were furnished
by Dominion Black Warrior Basin, Inc. (Dominion) or were obtained from
commercial sources. Records as they pertain to factual matters such as acreage
controlled, the number and depths of wells, production history, the existence of
contractual obligations to others and similar matters were accepted as
presented. Ownership interest, operating costs and information related to contractual
obligations regarding the sale of produced gas were furnished by Dominion. No
physical inspection of the properties was made nor any well tests conducted.




---



##### 



RALPH E. DAVIS ASSOCIATES, INC. Dominion Black Warrior Basin Trust 1994-1
Mr. Ron E. Hooper
    
    February 11, 2004
Page 3
 RESERVE ESTIMATES The estimate of reserves included in this report is based primarily upon
production history, or analogy with wells in the area producing from the same
or similar formations. Individual well production histories were analyzed and
forecast until an anticipated economic limit. The economic limit was based upon
an analysis of overall field operating costs and an appropriate daily producing
rate was utilized for each individual well. Future production for the unit was then analyzed as it applies to the total
revenue stream. Future production was forecast until the unit operations would
no longer be economical, and this future point in time was then utilized as a
terminus of production from the area of interest. The accuracy of reserve estimates is dependent upon the quality of available
data and upon the independent geological and engineering interpretation of that
data. Reserve estimates presented in this report are calculated using
acceptable methods and procedures and are believed to be reasonable; however,
future reservoir performance may justify revision of these estimates. The anticipated producing rates may be subject to regulation by various
agencies, changes in market demand or other factors; consequently, reserves
recovered and the actual rates of recovery may vary from the estimates included
herein. PRICING PROVISIONS Natural Gas  The initial price used in this report for natural gas is based
upon a sales contract entitled Amendment Dated July 1, 2002 to the Gas Purchase
Agreement dated May 3, 1994. This amendment is effective January 1, 2003
through December 31, 2003, and specifies the price to be paid for each MMBtu of
sales gas. Historically this agreement has been amended each year to encompass
an additional twelve month period. The referenced sales contract was terminated on December 19, 2003, effective
February 1, 2004, and the volumes of gas sold during January 2004 were priced as
per the terms and conditions of the contract. Beginning February 1, 2004 the
price in effect for each MMBtu of sales gas was set at the spot price for gas in
effective on December 31, 2003, being $5.9168 per MMBTU. This price was then
held constant throughout the remaining producing life of the properties.




---



##### 



RALPH E. DAVIS ASSOCIATES, INC. Dominion Black Warrior Basin Trust 1994-1
Mr. Ron E. Hooper
    
    February 11, 2004
Page 4
 FUTURE NET INCOME Future net income is based upon gross income from future production, less
appropriate taxes (production, severance, ad valorem or other). Operating costs
and any estimated future capital requirements were not considered in the
estimation of net income due to the Trusts royalty ownership position. No
allowance was made for depletion, depreciation, income taxes or administrative
expense. Future net income has been discounted for present worth at values ranging from
0 to 100 percent using monthly discounting. In this report the future net
income is discounted at a primary rate of ten (10.0) percent. GENERAL Dominion Black Warrior Basin, Inc. as operator has provided access to all of
its accounts, records, geological and engineering data, reports and other
information as required for this investigation. The ownership interests,
product classifications relating to prices and other factual data were accepted
as furnished without verification. No consideration was given in this report to either gas contract disputes
including take or pay demands or gas sales imbalances. No consideration was given in this report to potential environmental
liabilities which may exist, nor were any costs included for potential
liability to restore and clean up damages, if any, caused by past operating
practices. If investments or business decisions are to be made in reliance on these
estimates by anyone other than our client, such person with the approval of our
client is invited to arrange a visit so that he can evaluate the assumptions
made and the completeness and extent of the data available on which the
estimates are made. Neither Ralph E. Davis Associates, Inc. nor its employees has any interest in the subject properties and neither
the employment to make this study nor our compensation is contingent on our estimates of reserves and future
income for the subject properties.




---



##### 



RALPH E. DAVIS ASSOCIATES, INC. Dominion Black Warrior Basin Trust 1994-1
Mr. Ron E. Hooper
    
    February 11, 2004
Page 5
  This report has been prepared for the exclusive use of Dominion Black Warrior
Basin Trust 1994-1 and shall not be reproduced, distributed or made available to
any other company without the written consent of Ralph E. Davis Associates, Inc.
Such consent will not be unreasonably withheld if the report is utilized in its
entirety. Very truly yours, RALPH E. DAVIS ASSOCIATES, INC. (-s- Allen C. Barron, P.E.) Allen C. Barron, P.E.
President




---



##### 



RALPH E. DAVIS ASSOCIATES, INC. CLASSIFICATION OF RESERVES Proved Oil and Gas Reserves Proved oil and gas reserves are the estimated quantities of crude oil, natural
gas, and natural gas liquids which geological and engineering data demonstrate
with reasonable certainty to be recoverable in future years from known
reservoirs under existing economic and operating conditions, i.e., prices and
costs as of the date the estimate is made. Prices include consideration of
changes in existing prices provided only by contractual arrangements, but not
on escalations based upon future conditions.  1.
    
    Reservoirs are considered proved if economic producibility is
supported by either actual production or conclusive formation
test. The area of a reservoir considered proved includes (A) that
portion delineated by drilling and defined by gas-oil and/or
oil-water contacts, if any; and (B) the immediately adjoining
portions not yet drilled, but which can be reasonably judged as
economically productive on the basis of available geological and
engineering data. In the absence of information on fluid contacts,
the lowest known structural occurrence of hydrocarbons controls
the lower proved limit of the reservoir.2.
    
    Reserves which can be produced economically through application of
improved recovery techniques (such as fluid injection) are included
in the proved classification when successful testing by a pilot
project, or the operation of an installed program in the reservoir,
provides support for the engineering analysis on which the project or
program was based.3.
    
    Estimates of proved reserves do not include the following: (A) oil
that may become available from known reservoirs but is classified
separately as indicated additional reserves; (B) crude oil,
natural gas, and natural gas liquids, the recovery of which is
subject to reasonable doubt because of uncertainty as to geology,
reservoir characteristics, or economic factors; (C) crude oil,
natural gas, and natural gas liquids, that may occur in undrilled
prospects; and (D) crude oil, natural gas, and natural gas
liquids, that may be recovered from oil shales, coal, gilsonite
and other such sources. Proved Developed Oil and Gas Reserves Proved developed oil and gas reserves are reserves that can be expected to be
recovered through existing wells with existing equipment and operating methods.
Additional oil and gas expected to be obtained through the application of fluid
injection or other improved recovery techniques for supplementing the natural
forces and mechanisms of primary recovery should be included as proved
developed reserves only after testing by a pilot project or after the operation
of an installed program has confirmed through production response that
increased recovery will be achieved. Proved Undeveloped Reserves Proved undeveloped oil and gas reserves are reserves that are expected to be
recovered from new wells on undrilled acreage, or from existing wells where a
relatively major expenditure is required for recompletion. Reserves on undrilled
acreage shall be limited to those drilling units offsetting productive units
that are reasonably certain of production when drilled. Proved reserves for
other undrilled units can be claimed only where it can be demonstrated with
certainty that there is continuity of production from the existing productive
formation. Under no circumstances should estimates for proved undeveloped
reserves be attributable to any acreage for which an application of fluid
injection or other improved recovery technique is contemplated, unless such
techniques have been proved effective by actual tests in the area and in the
same reservoir. (Classification of reserves as found in Rule 4-10(a) of Regulation S-X of the per Securities and Exchange Act)




---



##### 



RALPH E. DAVIS ASSOCIATES, INC. CLASSIFICATION OF RESERVES Proved Oil and Gas Reserves Proved oil and gas reserves are the estimated quantities of crude oil, natural
gas, and natural gas liquids which geological and engineering data demonstrate
with reasonable certainty to be recoverable in future years from known
reservoirs under existing economic and operating conditions, i.e., prices and
costs as of the date the estimate is made. Prices include consideration of
changes in existing prices provided only by contractual arrangements, but not
on escalations based upon future conditions.  1.
    
    Reservoirs are considered proved if economic producibility is
supported by either actual production or conclusive formation
test. The area of a reservoir considered proved includes (A) that
portion delineated by drilling and defined by gas-oil and/or
oil-water contacts, if any; and (B) the immediately adjoining
portions not yet drilled, but which can be reasonably judged as
economically productive on the basis of available geological and
engineering data. In the absence of information on fluid contacts,
the lowest known structural occurrence of hydrocarbons controls
the lower proved limit of the reservoir.2.
    
    Reserves which can be produced economically through application of
improved recovery techniques (such as fluid injection) are included
in the proved classification when successful testing by a pilot
project, or the operation of an installed program in the reservoir,
provides support for the engineering analysis on which the project
or program was based.3.
    
    Estimates of proved reserves do not include the following: (A) oil
that may become available from known reservoirs but is classified
separately as indicated additional reserves; (B) crude oil,
natural gas, and natural gas liquids, the recovery of which is
subject to reasonable doubt because of uncertainty as to geology,
reservoir characteristics, or economic factors; (C) crude oil,
natural gas, and natural gas liquids, that may occur in undrilled
prospects; and (D) crude oil, natural gas, and natural gas
liquids, that may be recovered from oil shales, coal, gilsonite
and other such sources. Proved Developed Oil and Gas Reserves Proved developed oil and gas reserves are reserves that can be expected to be
recovered through existing wells with existing equipment and operating methods.
Additional oil and gas expected to be obtained through the application of fluid
injection or other improved recovery techniques for supplementing the natural
forces and mechanisms of primary recovery should be included as proved
developed reserves only after testing by a pilot project or after the operation
of an installed program has confirmed through production response that
increased recovery will be achieved. Proved Undeveloped Reserves Proved undeveloped oil and gas reserves are reserves that are expected to be
recovered from new wells on undrilled acreage, or from existing wells where a
relatively major expenditure is required for recompletion. Reserves on
undrilled acreage shall be limited to those drilling units offsetting
productive units that are reasonably certain of production when drilled.
Proved reserves for other undrilled units can be claimed only where it can be
demonstrated with certainty that there is continuity of production from the
existing productive formation. Under no circumstances should estimates for
proved undeveloped reserves be attributable to any acreage for which an
application of fluid injection or other improved recovery technique is
contemplated, unless such techniques have been proved effective by actual tests
in the area and in the same reservoir. (Classification of reserves as found in Rule 4-10(a) of Regulation S-X of the per Securities and Exchange Act)




---



##### 



(RALPH E. DAVIS ASSOCIATES INC) DOMINION BLACK WARRIOR BASIN 1994-1
UNESCALATED ANALYSIS
ROYALTY INTERESTS
TOTAL PROVED RESERVES RESERVES AND ECONOMICS EFFECTIVE DATE: 01/2004 GROSS PRODUCTION
    
    NET PRODUCTION
    
    PRICES
    
    OPERATIONS, M$END
    
    NO. OF
    
    OIL
    
    WELL HEAD
    
    SALES
    
    OIL
    
    SALES
    
    OIL
    
    GAS
    
    OTL
    
    GAS
    
    TAX
    
    TOTALMO-YEAR
    
    WELLS
    
    MBBL
    
    GAS, MMCF
    
    GAS, MMCF
    
    MBBL
    
    GAS, MMCF
    
    $/B
    
    $/M
    
    REVENUE
    
    REVENUE
    
    CREDITS
    
    REVENUE12-2004
    
    
    531.0
    
    
    
    0.000
    
    
    
    9852.542
    
    
    
    9113.610
    
    
    
    0.000
    
    
    
    4901.495
    
    
    
    0.00
    
    
    
    5.450
    
    
    
    0.000
    
    
    
    26714.238
    
    
    
    0.000
    
    
    
    26714.23812-2005
    
    
    530.6
    
    
    
    0.000
    
    
    
    8654.037
    
    
    
    8004.987
    
    
    
    0.000
    
    
    
    4307.606
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    23349.379
    
    
    
    0.000
    
    
    
    23349.37912-2006
    
    
    530.0
    
    
    
    0.000
    
    
    
    7596.260
    
    
    
    7026.540
    
    
    
    0.000
    
    
    
    3782.806
    
    
    
    0.00
    
    
    
    5.421
    
    
    
    0.000
    
    
    
    20504.703
    
    
    
    0.000
    
    
    
    20504.70312-2007
    
    
    529.7
    
    
    
    0.000
    
    
    
    6674.965
    
    
    
    6174.341
    
    
    
    0.000
    
    
    
    3325.376
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    18025.193
    
    
    
    0.000
    
    
    
    18025.19312-2008
    
    
    528.7
    
    
    
    0.000
    
    
    
    5873.897
    
    
    
    5433.356
    
    
    
    0.000
    
    
    
    2927.410
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    15868.016
    
    
    
    0.000
    
    
    
    15868.01612-2009
    
    
    528.0
    
    
    
    0.000
    
    
    
    5176.743
    
    
    
    4788.490
    
    
    
    0.000
    
    
    
    2580.849
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    13989.486
    
    
    
    0.000
    
    
    
    13989.48612-2010
    
    
    528.0
    
    
    
    0.000
    
    
    
    4569.592
    
    
    
    4226.875
    
    
    
    0.000
    
    
    
    2278.870
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    12352.605
    
    
    
    0.000
    
    
    
    12352.60512-2031
    
    
    527.1
    
    
    
    0.000
    
    
    
    4036.266
    
    
    
    3733.546
    
    
    
    0.000
    
    
    
    2013.534
    
    
    
    0.00
    
    
    
    5.421
    
    
    
    0.000
    
    
    
    10914.366
    
    
    
    0.000
    
    
    
    10914.36612-2012
    
    
    526.5
    
    
    
    0.000
    
    
    
    3571.325
    
    
    
    3303.476
    
    
    
    0.000
    
    
    
    1782.057
    
    
    
    0.00
    
    
    
    5.421
    
    
    
    0.000
    
    
    
    9659.646
    
    
    
    0.000
    
    
    
    9659.64612-2013
    
    
    524.5
    
    
    
    0.000
    
    
    
    3160.810
    
    
    
    2923.749
    
    
    
    0.000
    
    
    
    1577.555
    
    
    
    0.00
    
    
    
    5.421
    
    
    
    0.000
    
    
    
    8551.139
    
    
    
    0.000
    
    
    
    8551.13912-2014
    
    
    513.8
    
    
    
    0.000
    
    
    
    2789.301
    
    
    
    2580.102
    
    
    
    0.000
    
    
    
    1392.374
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    7547.359
    
    
    
    0.000
    
    
    
    7547.35912-2015
    
    
    503.7
    
    
    
    0.000
    
    
    
    2461.159
    
    
    
    2276.573
    
    
    
    0.000
    
    
    
    1228.625
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    6659.759
    
    
    
    0.000
    
    
    
    6659.75912-2016
    
    
    487.8
    
    
    
    0.000
    
    
    
    2177.803
    
    
    
    2014.468
    
    
    
    0.000
    
    
    
    1087.557
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    5895.101
    
    
    
    0.000
    
    
    
    5895.10112-2017
    
    
    467.9
    
    
    
    0.000
    
    
    
    1929.078
    
    
    
    1784.398
    
    
    
    0.000
    
    
    
    963.860
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    5224.599
    
    
    
    0.000
    
    
    
    5224.59912-2018
    
    
    449.5
    
    
    
    0.000
    
    
    
    1711.378
    
    
    
    1583.026
    
    
    
    0.000
    
    
    
    855.257
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    4635.918
    
    
    
    0.000
    
    
    
    4635.918S TOT
    
    
    18.3
    
    
    
    0.000
    
    
    
    70235.164
    
    
    
    64967.527
    
    
    
    0.000
    
    
    
    35005.230
    
    
    
    0.00
    
    
    
    5.425
    
    
    
    0.000
    
    
    
    189891.500
    
    
    
    0.000
    
    
    
    189891.500AFTER
    
    
    18.3
    
    
    
    0.000
    
    
    
    13157.814
    
    
    
    12170.983
    
    
    
    0.000
    
    
    
    6580.505
    
    
    
    0.00
    
    
    
    5.420
    
    
    
    0.000
    
    
    
    35669.625
    
    
    
    0.000
    
    
    
    35669.625TOTAL
    
    
    18.3
    
    
    
    0.000
    
    
    
    83392.977
    
    
    
    77138.508
    
    
    
    0.000
    
    
    
    41585.734
    
    
    
    0.00
    
    
    
    5.424
    
    
    
    0.000
    
    
    
    225561.125
    
    
    
    0.000
    
    
    
    225561.125
 OPERATIONS, M$
    
    CAPITAL COSTS, M$
    
    
    
    
    
    10.0%END
    
    PRODUCTION
    
    AD VALOREM
    
    NET OPER
    
    OPERATION
    
    TANGIBLE
    
    INTANG.
    
    TOTAL
    
    TOTAL
    
    CASH FLOW
    
    DISCOUNTEDMO-YEAR
    
    TAXES
    
    EXPENSES
    
    EXPENSES
    
    CASH FLOW
    
    INV.
    
    INV.
    
    BORROW INV
    
    EQUITY IN
    
    BTAX, M$
    
    BTAX, M$12-2004
    
    
    1602.854
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    25111.383
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    25111.389
    
    
    
    23896.79912-2005
    
    
    1400.963
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    21948.412
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    21948.418
    
    
    
    18899.45512-2006
    
    
    1230.282
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    19274.420
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    19274.410
    
    
    
    15017.69412-2007
    
    
    1081.512
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    16943.684
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    16943.689
    
    
    
    11945.57512-2008
    
    
    952.081
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    14915.935
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    14915.935
    
    
    
    9515.37712-2009
    
    
    839.369
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    13150.117
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    13150.124
    
    
    
    7590.69212-2010
    
    
    741.157
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    11611.449
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    11611.462
    
    
    
    6064.77112-2011
    
    
    654.862
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    10259.505
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    10259.493
    
    
    
    4848.76212-2012
    
    
    579.579
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    9080.066
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    9080.063
    
    
    
    3883.03812-2013
    
    
    513.068
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    8038.070
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    8038.065
    
    
    
    3110.36712-2014
    
    
    452.842
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    7094.517
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    7094.512
    
    
    
    2484.06912-2015
    
    
    399.586
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    6260.175
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    6260.179
    
    
    
    1983.41612-2016
    
    
    353.706
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    5541.395
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    5541.395
    
    
    
    1588.63812-2017
    
    
    313.476
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    4911.123
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    4911.126
    
    
    
    1273.98812-2018
    
    
    278.155
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    4357.763
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    4357.766
    
    
    
    1022.888S TOT
    
    
    11393.491
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    178498.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    178498.000
    
    
    
    113125.539AFTER
    
    
    2140.177
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    33529.449
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    33529.445
    
    
    
    4158.894TOTAL
    
    
    13533.669
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    212027.453
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    0.000
    
    
    
    212027.453
    
    
    
    117284.438
 OIL
    
    GAS
    
    
    
    
    
    
    
    P.W. %
    
    P.W., M$GROSS WELLS
    
    
    0.0
    
    
    
    532.0
    
    
    LIFE, YRS.
    
    
    51.25
    
    
    
    5.00
    
    
    
    151032.828GROSS ULT., MB & MMF
    
    
    0.000
    
    
    
    349584.781
    
    
    DISCOUNT %
    
    
    10.00
    
    
    
    10.00
    
    
    
    117284.438GROSS CUM., MB & MMF
    
    
    0.000
    
    
    
    272446.250
    
    
    UNDISCOUNTED PAYOUT, YRS
    
    
    0.00
    
    
    
    15.00
    
    
    
    95908.992GROSS RES., MB & MMF
    
    
    0.000
    
    
    
    77138.492
    
    
    DISCOUNTED PAYOUT. YRS.
    
    
    0.00
    
    
    
    20.00
    
    
    
    81149.188NET RES., MB & MMF
    
    
    0.000
    
    
    
    41585.719
    
    
    UNDISCOUNTED NET/INVEST.
    
    
    0.00
    
    
    
    25.00
    
    
    
    70338.477NET REVENUE, M$
    
    
    0.000
    
    
    
    225561.156
    
    
    DISCOUNTED NET/INVEST.
    
    
    0.00
    
    
    
    30.00
    
    
    
    62074.883INITIAL PRICE, $
    
    $
    0.000
    
    
    
    6.224
    
    
    RATE-OF-RETURN, PCT.
    
    
    100.00
    
    
    
    40.00
    
    
    
    50268.566INITIAL N.I., PCT.
    
    
    0.000
    
    
    
    51.140
    
    
    INITIAL W.I., PCT.
    
    
    0.000
    
    
    
    60.00
    
    
    
    36411.07480.00
    
    
    
    28530.834100.00
    
    
    
    23443.920