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# **UNITED STATES**

**SECURITIES AND EXCHANGECOMMISSION**

# **Washington, D.C. 20549**

 

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## **FORM 10-Q**

## ** **

| **x**                                                                                                                                     | ** ** | **QUARTERLY REPORT PURSUANT TO  SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**   |
|-------------------------------------------------------------------------------------------------------------------------------------------|------------|----------------------------------------------------------------------------------------------------------|
|                                                                                                                                      |       |                                                                                                     |
| **For the  Quarterly Period Ended March 31, 2009**                                                                                   |
| ** **                                                                                                                                | ** ** | ** **                                                                                               |
| **OR**                                                                                                                                    |
|                                                                                                                                      |       |                                                                                                     |
| **o**                                                                                                                                     | ** ** | **TRANSITION REPORT PURSUANT TO  SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|                                                                                                                                      |       |                                                                                                     |
| **For the  Transition Period from                    to** |

# ** **

# **Commission File Number: 333-93399-04**

 

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**REEF GLOBAL ENERGY IV, L.P.**

(Exact name of registrant as specified in its charter)

 

| **Nevada**

(State or other  jurisdiction of

incorporation or  organization)                                            | ** ** | **20-1654113**

(I.R.S. employer

identification  no.) |
|--------------------------------------------------------------------------------------------------------------------------|------------|--------------------------------------------------------|
| ** **                                                                                                               | ** ** | ** **                                             |
| **1901 N.  Central Expressway, Suite 300**

**Richardson,  Texas 75080**

(Address of  principal executive offices) | ** ** | **75080-3609**

(Zip code)                             |
| ** **                                                                                                               | ** ** | ** **                                             |
| Registrant’s  telephone number, including area code:                                                                | ** ** | **(972)-437-6792**                                     |

 

Indicate by check mark whether theregistrant (1) has filed all reports required to be filed by Section 13or 15(d) of the Securities Exchange Act of 1934 during the preceding12 months (or for such shorter period that the registrant was required tofile such reports), and (2) has been subject to such filing requirementsfor the past 90 days. Yes x    No  o

 

Indicate by check mark whether theregistrant has submitted electronically and posted on its corporate Web site,if any, every Interactive Data File required to be submitted and postedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) duringthe preceding 12 months (or for such shorter period that the registrant wasrequired to submit and post such files). Yes o No o

 

Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer,a non-accelerated filer, or a smaller reporting company. See the definitions of“large accelerated filer,” “accelerated filer” and “smaller reporting company”in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer o      Accelerated filer o      Non-accelerated filer o      Smaller reporting company x

 

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2of the Exchange Act). Yes o     No x

 

**As of March 31, 2009, theregistrant had 25.028 units of general partner interest held by the managinggeneral partner, and 474.972 units of limited partner interest outstanding.**

 

 

 

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**Reef Global Energy IV, L.P.**

**Form 10-QIndex**

 
| **PART I —  FINANCIAL INFORMATION** |
|-----------------------------------------------|
|                                          |   |
| **ITEM  1.**                                  | **Financial Statements (Unaudited)** |
|                                          | *Condensed  Balance Sheets* |
|                                          | *Condensed  Statements of Operations* |
|                                          | *Condensed  Statements of Cash Flows* |
|                                          | *Notes  to Condensed Financial Statements* |
|                                          |   |
| **ITEM 2.**                                   | **Management’s  Discussion and Analysis of Financial Condition and Results of Operations** |
|                                          |   |
| **ITEM 3.**                                   | **Quantitative  and Qualitative Disclosures About Market Risk** |
|                                          |   |
| **ITEM 4T.**                                  | **Controls and  Procedures** |
|                                          |   |
| **PART II  — OTHER INFORMATION**    |
|                                          |   |
| **ITEM 1.**                                   | **Legal Proceedings** |
|                                          |   |
| **ITEM 2.**                                   | **Unregistered  Sales of Equity Securities and Use of Proceeds** |
|                                          |   |
| **ITEM 3.**                                   | **Default Upon  Senior Securities** |
|                                          |   |
| **ITEM 4.**                                   | **Submission of  Matters to a Vote of Security Holders** |
|                                          |   |
| **ITEM 5.**                                   | **Other Information** |
|                                          |   |
| **ITEM  6.**                                  | **Exhibits** |
|                                          |   |
| **Signatures**                                |   |

 

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# **PART I FINANCIAL INFORMATION**

# ** **

## **Item 1. Financial Statements**

## ** **

**Reef Global Energy IV, L.P.**

**Condensed Balance Sheets**

** **
| ** **                                                                    | ** ** | **March 31,** | ** **  | **December 31,** | ** ** |
|-------------------------------------------------------------------------------|------------|--------------------|-------------|-----------------------|------------|
| ** **                                                                    | ** ** | **2009**           | ** **  | **2008**              | ** ** |
| ** **                                                                    | ** ** | **(Unaudited)**    | ** **  | ** **            | ** ** |
|                                                                          |       |               |        |                  |       |
| **Assets**                                                                    |       |               |        |                  |       |
|                                                                          |       |               |        |                  |       |
| **Current  assets:**                                                          |       |               |        |                  |       |
| Cash and cash  equivalents                                                    | ** ** | $                  | 82,440      |                  | $          | 106,454 |   |
| Accounts receivable  from affiliates, net                                     |       | 9,594              |        | —                |       |
| Prepaid expenses                                                              |       | 8,769              |        | —                |       |
| **Total  current assets**                                                     | ** ** | **100,803**        | ** **  | **106,454**           | ** ** |
|                                                                          |       |               |        |                  |       |
| **Oil and  gas properties, full cost method of accounting:**                  |       |               |        |                  |       |
| Proved  properties, net of accumulated depletion of $8,489,709 and $8,470,972 |       | 232,476            |        | 245,613               |       |
| **Net oil  and natural gas properties**                                       | ** ** | **232,476**        | ** **  | **245,613**           | ** ** |
| ** **                                                                    | ** ** | ** **         | ** **  | ** **            | ** ** |
| **Total  assets**                                                             | ** ** | **$**              | **333,279** | ** **            | **$**      | **352,067** | ** ** |
|                                                                          |       |               |        |                  |       |
| **Liabilities  and partnership equity**                                       |       |               |        |                  |       |
|                                                                          |       |               |        |                  |       |
| **Current  liabilities:**                                                     |       |               |        |                  |       |
| Accounts payable                                                              | ** ** | $                  | 1,696       |                  | $          | 436 |   |
| Accounts payable  to affiliates                                               |       | 47,321             |        | 16,801                |       |
| **Total  current liabilities**                                                | ** ** | **49,017**         | ** **  | **17,237**            | ** ** |
|                                                                          |       |               |        |                  |       |
| **Long-term  liabilities:**                                                   |       |               |        |                  |       |
| Asset retirement  obligation                                                  |       | 119,344            |        | 122,213               |       |
| **Total  long-term liabilities**                                              | ** ** | **119,344**        | ** **  | **122,213**           | ** ** |
|                                                                          |       |               |        |                  |       |
| **Partnership  equity:**                                                      |       |               |        |                  |       |
| General partners                                                              |       | —             |        | —                |       |
| Limited partners                                                              |       | (24,211            | )           | 11,300                |       |
| Managing general  partner                                                     |       | 189,129            |        | 201,317               |       |
| **Partnership  equity**                                                       | ** ** | **164,918**        | ** **  | **212,617**           | ** ** |
| ** **                                                                    | ** ** | ** **         | ** **  | ** **            | ** ** |
| **Total  liabilities and partnership equity**                                 | ** ** | **$**              | **333,279** | ** **            | **$**      | **352,067** | ** ** |

 

*See accompanying notes tocondensed financial statements.*

 

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**Reef Global Energy IV, L.P.**

**Condensed Statements ofOperations**

**(Unaudited)**

*** ***
| ** **                                  | ** ** | **For the three months ended  March 31** | ** **  |
|---------------------------------------------|------------|-----------------------------------------------|-------------|
| ** **                                  | ** ** | **2009**                                      | ** **  | **2008** | ** ** |
|                                        |       |                                          |        |   |   |
| **Revenues**                                | ** ** | **$**                                         | **31,840**  | ** ** | **$** | **62,852** | ** ** |
|                                        |       |                                          |        |   |   |
| **Costs  and expenses:**                    |       |                                          |        |   |   |
| Lease operating  expenses                   |       | 20,052                                        |        | 12,695 |   |
| Production taxes                            |       | 2,451                                         |        | 4,098 |   |
| Depreciation,  depletion and amortization   |       | 13,226                                        |        | 14,053 |   |
| Property  impairment                        |       | 5,511                                         |        | — |   |
| Accretion of  asset retirement obligation   |       | 1,264                                         |        | 1,270 |   |
| General and  administrative                 |       | 22,555                                        |        | 9,108 |   |
| **Total  costs and expenses**               | ** ** | **65,059**                                    | ** **  | **41,224** | ** ** |
|                                        |       |                                          |        |   |   |
| **Income  (loss) from operations**          | ** ** | **(33,219**                                   | **)**       | **21,628** | ** ** |
|                                        |       |                                          |        |   |   |
| **Other  income:**                          |       |                                          |        |   |   |
| Interest income                             |       | 266                                           |        | 231 |   |
| **Total  other income**                     | ** ** | **266**                                       | ** **  | **231** | ** ** |
|                                        |       |                                          |        |   |   |
| **Net  income (loss)**                      | ** ** | **$**                                         | **(32,953** | **)** | **$** | **21,859** | ** ** |
|                                        |       |                                          |        |   |   |
| Net income per  general partner unit        | ** ** | **$**                                         | **—**  | ** ** | **$** | **68.52** | ** ** |
| Net income per  limited partner unit        | ** ** | **$**                                         | **5.46**    | ** ** | **$** | **68.52** | ** ** |
| Net loss per  managing general partner unit | ** ** | **$**                                         | **(808.96** | **)** | **$** | **(426.97** | **)** |

 

*See accompanying notes tocondensed financial statements.*

 

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**Reef Global Energy IV, L.P.**

**Condensed Statements of CashFlows**

**(Unaudited)**

** **
| ** **                                                                                | ** ** | **For the three months ended  March 31** | ** ** |
|-------------------------------------------------------------------------------------------|------------|----------------------------------------------------|------------|
| ** **                                                                                | ** ** | **2009**                                           | ** ** | **2008** | ** ** |
| ** **                                                                                | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| **Operating  Activities**                                                                 |       |                                               |       |   |   |
| Net income  (loss)                                                                        | ** ** | $                                                  | (32,953    | ) | $ | 21,859 |   |
| Adjustments for  non-cash transactions:                                                   |       |                                               |       |   |   |
| Depreciation,  depletion and amortization                                                 |       | 13,226                                             |       | 14,053 |   |
| Property  impairment                                                                      |       | 5,511                                              |       | — |   |
| Accretion of  asset retirement obligation                                                 |       | 1,264                                              |       | 1,270 |   |
| Adjustments to  reconcile net income (loss) to net cash provided by operating activities: |       |                                               |       |   |   |
| Changes in  operating assets and liabilities:                                             |       |                                               |       |   |   |
| Accounts  receivable from affiliates                                                      |       | (9,594                                             | )          | — |   |
| Prepaid expenses                                                                          |       | (8,769                                             | )          | — |   |
| Accounts payable                                                                          |       | 1,260                                              |       | 24 |   |
| Accounts payable  to affiliates                                                           |       | 24,920                                             |       | (1,451 | ) |
| **Net  cash provided by operating activities**                                            | ** ** | **(5,135**                                         | **)**      | **35,755** | ** ** |
| ** **                                                                                | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| **Investing  Activities**                                                                 | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| Property  acquisition and development                                                     |       | —                                             |       | (58,610 | ) |
| Plugging and  abandonment costs paid from asset retirement obligation                     |       | (4,133                                             | )          | — |   |
| **Net  cash used in investing activities**                                                | ** ** | **(4,133**                                         | **)**      | **(58,610** | **)** |
| ** **                                                                                | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| **Financing  Activities**                                                                 | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| Partner capital  contributions                                                            |       | 9,504                                              |       | 1,891 |   |
| Partner  distributions                                                                    |       | (24,250                                            | )          | (17,000 | ) |
| **Net  cash used in financing activities**                                                | ** ** | **(14,746**                                        | **)**      | **(15,109** | **)** |
| ** **                                                                                | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| **Net  decrease in cash and cash equivalents**                                            | ** ** | **(24,014**                                        | **)**      | **(37,964** | **)** |
| Cash and cash  equivalents at beginning of period                                         |       | 106,454                                            |       | 75,764 |   |
| **Cash  and cash equivalents at end of period**                                           | ** ** | **$**                                              | **82,440** | ** ** | **$** | **37,800** | ** ** |
| ** **                                                                                | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| **Supplemental  disclosure of non-cash investing transactions:**                          | ** ** | ** **                                         | ** ** | ** ** | ** ** |
| Property  additions included in accounts payable to affiliates                            | ** ** | $                                                  | 5,600      |   | $ | — |   |
| **Supplemental  disclosure of non-cash financing transactions:**                          | ** ** |                                               |       |   |   |
| Managing partner  contributions included in accounts receivable from affiliates           | ** ** | $                                                  | —     |   | $ | 38,467 |   |

 

*See accompanying notes tocondensed financial statements.*

 

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**ReefGlobal Energy IV, L.P.**

**Notes to Condensed Financial Statements(unaudited)**

**March 31,2009**

 

**1. Organization and Basis ofPresentation**

 

The financial statementsof Reef Global Energy IV, L.P. (the “Partnership”) have been prepared pursuantto the rules and regulations of the Securities and Exchange Commission(the “SEC”). Certain information and footnote disclosure normally included inannual financial statements prepared in accordance with accounting principlesgenerally accepted in the United States have been condensed or omitted pursuantto those rules and regulations. We have recorded all transactions andadjustments necessary to fairly present the financial statements included in thisQuarterly Report on Form 10-Q (this “Quarterly Report”). The adjustmentsare normal and recurring. The following notes describe only the materialchanges in accounting policies, account details, or financial statement notesduring the first three months of 2009. Therefore, please read these condensedfinancial statements and notes to condensed financial statements together withthe audited financial statements and notes to financial statements contained inthe Partnership’s Annual Report on Form 10-K for the period ended December 31,2008 (the “Annual Report”).

 

**Going Concern**

 

The accompanyingfinancial statements have been prepared assuming the Partnership is a goingconcern, which assumption contemplates the realization of assets andsatisfaction of liabilities in the normal course of business. The Partnershiphas suffered losses from operations that have utilized a major portion ofpartnership equity. While the Partnership appears to have adequate liquidity atMarch 31, 2009, there can be no assurance that such liquidity will remainsufficient.

 

These factors raisesubstantial doubt about the Partnership’s ability to continue as a goingconcern. The financial statements do not include any adjustments relating tothe recoverability and classification of recorded asset amounts or the amountof liabilities that might be necessary should the Partnership be unable tocontinue in existence.

 

The managing generalpartner is considering several options related to the Partnership, includingthe possible sale of marketable assets, as a result of the recurring lossesincurred over the past several years, the erosion of partnership equity, andthe lack of significant cash flows from operations.

 

**2. Summary of Accounting Policies**

 

**Oil and Natural Gas Properties**

 

The Partnership followsthe full cost method of accounting for crude oil and natural gas properties.Under this method, all direct costs and certain indirect costs associated withacquisition of properties and successful as well as unsuccessful exploration anddevelopment activities are capitalized. Depreciation, depletion, andamortization of capitalized oil and gas properties are based on theunit-of-production method using estimated proved reserves. For these purposes,proved natural gas reserves are converted to equivalent barrels of crude oil ata rate of 6 MCF to 1 Bbl. Net capitalized costs of crude oil and natural gasproperties, as adjusted for asset retirement obligations, are limited to thelower of unamortized cost or the cost ceiling, defined as the sum of thepresent value of estimated future net revenues from proved reserves based onprices in effect at the end of the period held constant and discounted at 10percent. Pursuant to full cost accounting rules, the Partnership performs aceiling test quarterly as of the balance sheet date on its proved oil andnatural gas properties. Excess capitalized costs are charged to propertyimpairment expense. No gain or loss is recognized upon sale or disposition ofcrude oil and natural gas properties, unless such a sale would significantlyalter the rate of depletion and amortization. During the three month periodended March 31, 2009, the Partnership recognized a property impairmentexpense of approximately $5,511.

 

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**Asset Retirement Obligation**

 

The Partnershipaccounts for its asset retirement obligations in accordance with Statement ofFinancial Accounting Standards (“SFAS”) No. 143, “Accounting for AssetRetirement Obligations” (“SFAS No. 143”). Asset retirement costs andliabilities associated with future site restoration and abandonment oflong-lived assets are initially measured at fair value which approximates the costa third party would incur in performing the tasks necessary to retire such assets. The fair value is recognized inthe financial statements as the present value of expected future cashexpenditures for site restoration and abandonment. Subsequent to the initialmeasurement, the effect of the passage of time on the liability of the netasset retirement obligation (accretion expense) and the amortization of theasset retirement cost are recognized in the results of operations.  No gain or loss is recognized uponabandonment and restoration of crude oil and natural gas properties, unlesssuch abandonment and restoration would significantly alter the rate ofdepletion and amortization.

 

Thefollowing table summarizes the Partnership’s asset retirement obligation forthe three months ended March 31, 2009 and the year ended December 31,2008.

 
| ** **                                                  | ** ** | **Three months ended   March 31, 2009** | ** ** | **Year ended   December 31, 2008** | ** ** |
|-------------------------------------------------------------|------------|----------------------------------------------|------------|-----------------------------------------|------------|
| Beginning asset  retirement obligation                      |       | $122,213                                     |       | $137,757                                |       |
| Additions  related to new properties                        |       | 0                                            |       | 410                                     |       |
| Accretion  expense                                          |       | 1,264                                        |       | 3,519                                   |       |
| Retirement  related to property abandonment and restoration |       | (4,133                                       | )          | (19,473                                 | )          |
| Ending asset  retirement obligation                         |       | $119,344                                     |       | $122,213                                |       |

 

**New Accounting Pronouncements**

 

**Interim Reporting of Fair Value of Financial Instruments**

 

In April 2009, the Financial Accounting StandardsBoard (the “FASB”) issued FASB Staff Position FSP FAS 107-1 and AccountingPrinciples Board (“APB”) Opinion No. 28-1 (“FSP FAS 107-1”), “InterimDisclosures about Fair Value of Financial Instruments.”  FSP FAS 107-1 amends SFAS No. 107, “Disclosuresabout Fair Value of Financial Instruments,” to require disclosures about fairvalue of financial instruments for interim reporting periods.  The FSP FAS 107-1 also amends APB Opinion No. 28,“Interim Financial Reporting,” to require those disclosures about the fairvalue of financial instruments in summarized financial information at interimreporting periods.  FSP FAS 107-1 iseffective for reporting periods ending after June 15, 2009, and itsadoption is expected to have no impact on the Partnership’s results ofoperations and financial condition but will require additional disclosuresregarding the fair value of certain financial instruments of the Partnership.

 

**Fair Value Measurements**

 

On January 1, 2009, the Partnership adopted FASBStaff Position FSP FAS No. 157-2 (“FSP FAS No. 157-2”), which delayedthe effective date of SFAS No. 157, “Fair Value Measurements” fornonfinancial assets and liabilities, except for items that are recognized ordisclosed at fair value in the financial statements on a recurring basis atleast annually.  The adoption of FSP FAS No. 157-2was immaterial to the Partnership’s results of operations, cash flows andfinancial positions.

 

**Modernization of Oil and Gas Reporting**

 

In January 2009, the SEC issued revisions to theoil and gas reporting disclosures, “Modernization of Oil and Gas Reporting;Final Rule” (“the Final Rule”). In addition to changing the definition anddisclosure requirements for oil and gas reserves, the Final Rule changesthe requirements for determining quantities of oil and gas reserves. The Final Rule alsochanges certain accounting requirements under the full cost method ofaccounting for oil and gas activities. The amendments are designed to modernizethe requirements for the determination of oil and gas reserves, aligning themwith current practices and updating them for changes in technology. The Final Rule iseffective for annual reports on Form 10-K for fiscal years ending on orafter December 31, 2009. The Partnership has not yet determined theimpact, if any, of the Final Rule on the financial statements.

 

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**The Hierarchy of Generally Accepted AccountingPrinciples**

 

In May 2008, the FASB issued SFAS No. 162, “TheHierarchy of Generally Accepted Accounting Principles” (“SFAS 162”). SFAS 162identifies the sources for accounting principles and the framework forselecting the principles to be used in preparing financial statements ofnongovernmental entities that are presented in conformity with generallyaccepted accounting principles in the United States. This statement becameeffective in November 2008.

 

**Disclosures About Derivative Instruments andHedging Activities**

 

In March 2008, the FASB issued SFAS No. 161,“Disclosures about Derivative Instruments and Hedging Activities” (“SFAS 161”).SFAS 161 requires entities that utilize derivative instruments to providequalitative disclosures about their objectives and strategies for using suchinstruments, as well as any details of credit-risk-related contingent featurescontained within derivatives. The Partnership does not utilize derivativeinstruments; therefore, this pronouncement did not have any impact on thePartnership’s results of operations, cash flows or financial position.

 

**Non-controlling Interests in ConsolidatedFinancial Statements**

 

In December 2007, the FASB issued SFAS No. 160,“Noncontrolling Interests in Consolidated Financial Statements, an amendment ofAccounting Research Bulletin No. 51” (“SFAS 160”), which improves therelevance, comparability and transparency of the financial information that areporting entity provides in its consolidated financial statements byestablishing accounting and reporting standards for the noncontrolling interestin a subsidiary and for the deconsolidation of a subsidiary. The Partnershipdoes not own any subsidiaries, and this pronouncement did not have any impacton the Partnership’s results of operations, cash flows or financial position.

 

**Business Combinations**

 

In December 2007, the FASB issued SFAS No. 141(revised 2007), “Business Combinations” (“SFAS 141R”), which replaces SFAS No. 141,“Business Combinations” (“SFAS 141”). SFAS 141R retains the fundamentalrequirements in SFAS 141 that the acquisition method of accounting (which SFAS141 called the purchase method) be used for all business combinations. ThePartnership has no business combinations in progress or, at this time, infuture plans. This pronouncement did not have any impact on the Partnership’sresults of operations, cash flows or financial position.

 

**Accounting Standard Fair Value for FinancialAssets and Financial Liabilities**

 

In February 2007, the FASB issued SFAS No. 159,“The Fair Value Option for Financial Assets and Financial Liabilities” (“SFAS159”). SFAS 159 allows entities the option to measure eligible financialinstruments at fair value as of specified dates. The Partnership did not electfair value as an alternative as provided under SFAS 159 for any of itsfinancial assets and liabilities that are not currently measured at fair value.

 

**3. Transactions with Affiliates**

 

The Partnership has noemployees. Reef Exploration, L.P. (“RELP”), an affiliate of Reef Oil &Gas Partners, L.P. (“Reef”), the managing general partner of the Partnership,employs a staff including geologists, petroleum engineers, landmen andaccounting personnel who administer all of the Partnership’s operations. ThePartnership reimburses RELP for technical and administrative services at cost.During the three month periods ended March 31, 2009 and 2008, thePartnership incurred technical services and administrative costs totaling$10,763 and $2,642, respectively.  Ofthese amounts, technical services costs capitalized as project costs were $0and $1,373, respectively, and $10,763 and $1,269 represent administrative costsincluded as general and administrative expenses.

 

Reef contributes 1% ofall leasehold, drilling, and completion costs when incurred. During the threemonths ended March 31, 2009, this 1% obligation totaled $0. Reef alsopurchased 5.01% of the Partnership units and pays 5.01% of the 99% of thesecosts paid by the unit holders (4.96%). In addition, Reef agreed to reimbursethe Partnership 100% of the costs for the workover of a Partnership well whichoccurred during the first quarter of 2008, and 100% of the costs of drillingand completing a well in Terrebonne Parish, Louisiana (as discussed in greaterdetail below). This obligation totaled $380,694 at March 31, 2009. At December 31,2008, Reef owed the Partnership $371,191 in connection with these obligations.

 

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RELP processes jointinterest billings and revenues on behalf of the Partnership. At March 31,2009, the Partnership owed RELP $47,321 for net revenues processed in excess ofjoint interest and technical and administrative services charges. At December 31,2008, the Partnership owed RELP $16,801 for joint interest charges andtechnical and administrative services charges processed in excess of netrevenues. In addition, the Partnership owed Reef $752 for reimbursement of anoverpayment made by Reef in connection with Reef’s obligation to pay 1% of allleasehold, drilling, and completion costs incurred by the Partnership.  The Partnership settles its balances withReef and RELP on a quarterly basis.

 

**4. Commitments and Contingencies**

 

The Partnership is notcurrently involved in any legal proceedings.

 

**5.Partnership Equity**

 

Information regarding thenumber of units outstanding and the net income (loss) per type of Partnershipunit for the three month periods ended March 31, 2009 and 2008 is detailedbelow:

 

For the three monthsended March 31, 2009

 
| **Type of Unit**                | ** ** | **Number of   Units** | ** ** | **Net income   (loss)** | ** ** | **Net income   (loss) per   unit** | ** ** |
|---------------------------------|------------|-----------------------|------------|-------------------------|------------|------------------------------------|------------|
| Managing  general partner units |       | 25.028                |       | $                       | (20,247    | )                                  | (808.97    | ) |
| General  partner units*         |       | 0.000                 |       | 0                       |       | 0.00                               |       |
| Limited  partner units*         |       | 474.972               |       | (12,706                 | )          | 5.46                               |       |
| Total                           |       | 500.000               |       | $                       | (32,953    | )                                  |       |   |

 

For the three monthsended March 31, 2008

 
| **Type of Unit**                | ** ** | **Number of   Units** | ** ** | **Net income   (loss)** | ** ** | **Net income   (loss) per   unit** | ** ** |
|---------------------------------|------------|-----------------------|------------|-------------------------|------------|------------------------------------|------------|
| Managing  general partner units |       | 25.028                |       | $                       | (10,687    | )                                  | $          | (426.97 | ) |
| General  partner units*         |       | 125.000               |       | 8,565                   |       | 68.52                              |       |
| Limited  partner units*         |       | 349.972               |       | 23,981                  |       | 68.52                              |       |
| Total                           |       | 500.000               |       | $                       | 21,859     |                               |       |   |
|                                 |            |                       |            |                         |            |                                    |            |  |  |

 

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*      During the third quarter of 2008, all general partnerunits of the Partnership were converted into limited partner units.

 

**Item 2.  Management’s Discussion and Analysis ofFinancial Condition and Results of Operations.**

 

The following is a discussion of the Partnership’s financialposition, results of operations, liquidity and capital resources. Thisdiscussion should be read in conjunction with our financial statements and therelated notes thereto, included in the Annual Report.

 

This Quarterly Reportcontains forward-looking statements that involve risks and uncertainties. Youshould exercise extreme caution with respect to all forward-looking statementsmade in this Quarterly Report.  Specifically, the following statements areforward-looking:

 

·                  statements regarding the state of the oiland gas industry and the opportunity to profit within the oil and gas industry,competition, pricing, level of production, or the regulations that may affectthe Partnership;

 

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·                  statements regarding the plans andobjectives of Reef for future operations, including, without limitation, theuses of Partnership funds and the size and nature of the costs the Partnershipexpects to incur and people and services the Partnership may employ;

 

·                  any statements using the words “anticipate,”“believe,” “estimate,” “expect” and similar such phrases or words; and

 

·                  any statements of other than historicalfact.

 

Reef believes that it isimportant to communicate its future expectations to the partners. Forward-looking statements reflect the current view of management with respectto future events and are subject to numerous risks, uncertainties andassumptions, including, without limitation, the factors listed in thesection captioned “RISK FACTORS” contained in the Reef Global VenturesDrilling Program’s (the “Program”) prospectus dated January 10, 2002 andprospectus supplement dated September 21, 2004. Although Reef believesthat the expectations reflected in such forward-looking statements arereasonable, Reef can give no assurance that such expectations will prove tohave been correct.  Should any one or more of these or other risks oruncertainties materialize or should any underlying assumptions prove incorrect,actual results are likely to vary materially from those described herein. There can be no assurance that the projected results will occur, that thesejudgments or assumptions will prove correct or that unforeseen developmentswill not occur.

 

Reef does not intend toupdate its forward-looking statements. All subsequent written and oralforward-looking statements attributable to Reef or persons acting on its behalfare expressly qualified in their entirety by the applicable cautionarystatements.

 

Reef, as managing generalpartner, initially received a 10% interest in the Partnership as compensationfor forming the Partnership, and also received a 1% interest in the Partnershipas a result of paying 1% of all leasehold, drilling and completion costs. This11% interest was not represented by Partnership units. In addition,Reef purchased 5.01% of the Partnership units and, therefore, held 5.01% of the89% interest in the Partnership (4.46%) held by the unit holders. Effective August 1,2006, Reef reduced the interest it received as compensation for forming thePartnership from 10% to 5%, and effective November 1, 2006 it reduced thisinterest from 5% to 0%. Therefore, effective November 1, 2006, Reef holdsa 1% interest in the Partnership as a result of paying 1% of all leasehold,drilling and completion costs. This 1% interest is not represented byPartnership units. Effective November 1, 2006 Reef holds 5.01% of the 99%interest in the Partnership (4.96%) held by the unit holders.

 

**Overview**

 

Reef Global Energy IV,L.P. is a Nevada limited partnership formed to acquire, explore, develop, andproduce crude oil, natural gas, and natural gas liquids for the benefit of itsinvestor partners. The Partnership’s primary purposes are to generate revenuesfrom the production of crude oil and natural gas, distribute cash flow toinvestors, and provide tax benefits to investors. The Partnership purchasedworking interests in eight developmental prospects located in Live Oak (2prospects) and Nueces County, Texas and Jefferson, St. Charles, Cameron, andAcadia (2 prospects) Parish, Louisiana and participated in the drilling ofeight developmental wells on those prospects. The Partnership purchased workinginterests in five exploratory prospects located in Galveston (2 prospects)County, Texas, Jefferson and Plaquemines Parish, Louisiana, and in UnitedStates coastal waters in the Gulf of Mexico, and participated in the drillingof five exploratory wells on those prospects. A “prospect” is generally defined as a contiguous oil and gas leaseholdestate, or lesser interest in a leasehold estate, upon which drillingoperations may be conducted. A prospect may be characterized as “exploratory”or “developmental” based upon the type of well to be drilled on the prospect. Adevelopment well is a well drilled within a proved area of an oil or gasreservoir to the depth of a stratigraphic horizon known to be productive.Generally an exploratory is any well that is not a development well, includingwells drilled to find and produce crude oil or natural gas in an unproven area,wells drilled to find a new reservoir in a field previously found to beproductive of crude oil or natural gas, or wells drilled to extend a knownreservoir. The Partnership also purchased a royalty interest in a field inLouisiana with three productive wells, one of which is still producing as ofthe date of this report. Drilling operations on these thirteen prospects werecompleted during February 2006. Six developmental wells were successful,of which two are still productive, and two developmental wells wereunsuccessful. One exploratory well was successful and is still productive, andfour exploratory wells were unsuccessful. In this Quarterly Report, we use theterm “successful” to refer to wells that are drilled, tested, and eithercapable of or actually producing in commercial quantities. We use the term “unsuccessful”to refer to wells that do not meet one or more of these criteria. Since itsinception, the Partnership has incurred $8,041,121 of property impairmentassociated with wells drilled during the drilling phase of operations, and cashflows from successful wells have not been sufficient to provide significantreturns to investor partners.

 

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The managing generalpartner reduced its interest in the Partnership as indicated above, and, inaddition, agreed to fund 100% of the cost of two projects. In August 2006,the managing general partner agreed to pay 100% of the costs for a workinginterest in a developmental well located in Terrebonne Parish, Louisiana. Thewell completed drilling operations in May 2007 and was unsuccessful;however, after reviewing the well logs and other geologic data, the wellborewas re-entered during the fourth quarter of 2007 and successfully sidetracked.Drilling operations were finished during February 2008, and the well beganproducing in commercial quantities on May 2, 2008. Reef paid 100% of thecosts associated with the drilling of the unsuccessful well and the subsequentdrilling of the successful sidetrack of this well. Reef also agreed to pay 100%of the cost of a workover attempt performed during February 2008 on one ofthe Partnership’s developmental wells that had ceased production as a result ofhigh water volumes associated with the natural gas production from the well.This workover was unsuccessful in its attempt to shut-off the water production,and the well was plugged and abandoned.

 

The Partnership has noplans for additional drilling activities. The Partnership does not operate inany other business segment, and operates solely in the United States. Note 1 tothe audited financial statements included in the Partnership’s Annual Reportincluded a section regarding the ability of the Partnership to continue as agoing concern, due to recurring losses from operations. The managing generalpartner continues to consider several options for the Partnership, includingthe possible sale of marketable assets. The Partnership had net income andpositive cash flow during 2008. As a result of the  downward movement in crude oil and naturalgas prices which occurred during the last half of 2008, , the Partnershipincurred a net loss and had negative cash flow during the first quarter of2009.

 

The table belowsummarizes Partnership drilling expenditures as of March 31, 2009 byclassification of well. Drilling, completion, and facilities costs include$86,620 capitalized as asset retirement cost.

 
| ** **                     | ** ** | **Leasehold   Costs** | ** ** | **Drilling,  Completion,   and Facilities   Costs** | ** ** | **Total Costs** | ** ** |
|--------------------------------|------------|-----------------------|------------|-----------------------------------------------------|------------|-----------------|------------|
| Developmental  wells           |       | $                     | 469,455    |                                                | $          | 4,682,732       |       | $ | 5,152,187 |   |
| Exploratory  wells             |       | 139,396               |       | 2,917,133                                           |       | 3,056,529       |       |
| Purchase  of royalty interests |       | 523,554               |       | —                                              |       | 523,554         |       |
| Total                          |       | $                     | 1,132,405  |                                                | $          | 7,599,865       |       | $ | 8,732,270 |   |

 

**CriticalAccounting Policies**

 

There have been no changes from the Critical Accounting Policiesdescribed in the Annual Report.

 

**Liquidity and Capital Resources**

 

The Partnership wasfunded with initial capital contributions totaling $9,924,916. Reef purchased25.028 limited partner units, or 5.01% of the total units sold, for $425,475.Investor partners purchased 125.000 units of general partner interest and349.972 units of limited partner interest for $9,499,441. The Partnership held$68,585 of interest earned during 2004 and 2005 for use in drilling operations.As of March 31, 2009, Reef has also contributed or accrued $273,440 in connectionwith its obligation to pay 1% of all leasehold, drilling, and completion costs,and to reimburse the Partnership for 100% of the drilling and sidetrackingcosts of a well in Louisiana for which Reef is paying 100% of the costs.Organization and offering costs totaled $1,424,916, leaving capitalcontributions of $8,842,025 available for drilling operations andpre-production administrative costs. The Partnership expended$8,645,650 on prospect and property acquisitions, drilling and completion costsand $112,843 on general and administrative expenses during the drilling phaseof operations in connection with the thirteen wells and the royalty purchasedescribed above, and the well for which Reef paid 100% of the cost. Drillingoperations were completed in February 2006 on the thirteen wells drilledwith the capital raised by the Partnership, and drilling operations werecompleted in February 2008 on the additional well and sidetrack for whichReef paid 100% of the costs.

 

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The Partnership’sdrilling program is complete, and, as a result, no new wells began productionoperations during this quarter. No Partnership wells ceased production duringthe quarter. The Partnership currently has five productive wells.

 

The Partnership hasworking capital of $51,786 at March 31, 2009.  Subsequent to expending the initial availablepartner capital contributions on prospect and property acquisitions anddrilling and completion costs of partnership wells, the Partnership has minimalworking capital, primarily consisting of cash and accounts receivable from RELPrelated to oil and gas sales from productive properties processed by RELP,which the Partnership uses to pay quarterly cash distributions to investors.

 

During 2008 thePartnership generated net income and positive cash flow, primarily due to a newwell which began production operations during May 2008, a second well whichunderwent a successful workover in 2007, and the increase in crude oil andnatural gas prices during 2008. However, during the latter half of 2008, prices began movingdownward. While oil prices have begun to recover beginning with March 2009crude oil sales, gas prices have continued to decline. Management does notexpect to see a return to the average pricing levels received during 2008. As aresult of recent declines in gas volumes on one of the Partnership’s fiveproductive wells, management believes that 2009 sales volumes will be less than2008 volumes. The ability of the Partnership to generate positive cash flowsduring 2009 will primarily depend upon crude oil and natural gas pricing. ThePartnership did not generate positive cash flow during the first quarter of2009. The managing general partner is considering several options related tothe Partnership, including the possible sale of marketable assets anddissolution of the Partnership, as a result of the recurring losses incurredover the past several years, the erosion of partnership equity, and the lack ofsignificant cash flows from operations.

 

**Results of Operations**

 

The following is acomparative discussion of the results of operations for the periods indicated.It should be read in conjunction with the condensed financial statements andthe related notes to the condensed financial statements included in thisQuarterly Report.

 

The following tableprovides information about sales volumes and oil and natural gas prices for theperiods indicated. Equivalent barrels of oil (“EBO”) are computed by converting6 MCF of natural gas to 1 barrel of oil.

 
| ** **                      | ** ** | **For the three months  ended March 31** | ** ** |
|---------------------------------|------------|-----------------------------------------------|------------|
| ** **                      | ** ** | **2009**                                      | ** ** | **2008** | ** ** |
| Sales  volumes:                 |       |                                          |       |   |   |
| Oil  (Barrels)                  |       | 433                                           |       | 197 |   |
| Natural  gas (MCF)              |       | 3,153                                         |       | 5,137 |   |
|                            |       |                                          |       |   |   |
| Average  sales prices received: |       |                                          |       |   |   |
| Oil  (Barrels)                  |       | $                                             | 35.07      |   | $ | 92.71 |   |
| Natural  gas (MCF)              |       | $                                             | 5.28       |   | $ | 8.69 |   |

 

The Partnership had fiveproductive wells during the first quarter of 2009 and 2008. During the firstquarter of 2008, two Partnership wells accounted for 93.9% of gas salesvolumes. Production from these two wells has declined by almost 2,900 MCF, or60%, from the 2008 first quarter volumes, and has been partially offset byproduction from the new ROB L RA SUA CL&F #1 well (the “Gumbo II” well),which began production in May 2008. The increase in oil sales volumes isdirectly due to the Gumbo II well, which sold 291 barrels of crude oil duringthe first quarter of 2009.

 

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Net proved crude oil andnatural gas reserves of the Partnership at March 31, 2009 and 2008 aredetailed below. Net proved crude oil and natural gas reserves at March 31,2009 and 2008 include only those quantities that we expect to recovercommercially using current prices, costs, existing regulatory practices, andtechnology as of the date indicated. Therefore, any changes in future prices,costs, regulations, technology or other unforeseen factors could materiallyincrease or decrease the proved reserve estimates. No additional developmentcosts are required to recover these proved reserves at March 31, 2009. At March 31,2009, all of the Partnership’s proved reserves are classified as proved producingreserves. All of the Partnership’s reserves are located in the United States.

 
| **Net proved reserves** | ** ** | **Oil (BBL)** | ** ** | **Gas (MCF)** | ** ** |
|-------------------------|------------|---------------|------------|---------------|------------|
| March 31,  2009    |       | 5,151         |       | 72,920        |       |
| March 31,  2008    |       | 3,376         |       | 74,825        |       |

 

**Three months ended March 31,2009 compared to the three months ended March 31, 2008**

 

The Partnership has a netloss of $32,953 for the three month period ended March 31, 2009, comparedto net income of $21,859 for the three month period ended March 31, 2008.

 

The Partnership had fiveproductive wells during the comparative quarters. During the first quarter of2008, one of the five productive Partnership wells ceased production. The finalPartnership successful well, the Gumbo II well, began production during May 2008and was productive during the first quarter of 2009.  While oil production from the Gumbo II wellwas more than enough to offset the decline in sales barrels from the productiveproperties which produced during the first quarter of 2008, the gas productionfrom the Gumbo II well was not sufficient to offset the decline in gas sales.In particular, the Partnership had two productive wells during the firstquarter of 2008 that accounted for 93.9% of the total sales volume for thatquarter. During the first quarter of 2009, sales volumes from these two wells declinedby approximately 2,900 MCF, or 60%, from 2008 levels. Sales prices for crudeoil and natural gas began declining during the third quarter of 2008, and theaverage sales prices for the first quarter of 2009 continued to decline fromprior quarter levels. In comparison with prices received during the firstquarter of 2008, oil prices have declined by 62.2%, to an average price of$35.07 for the first quarter of 2009. Gas prices declined by 39.2%, to anaverage price of $5.28 per MCF this quarter, compared to an average price of$8.69 received for the first quarter of 2008. As a result, total sales revenuesdeclined by 49.3% for the first quarter of 2009.

 

Lease operating expensesincreased from $12,695 during the first quarter of 2008 to $20,052 during thefirst quarter of 2009. The two primary factors in the increase are increases ingas marketing costs of approximately $4,500, and the fact that the operatingcosts of the Gumbo II well were approximately $2,700 higher than comparablecosts for the well that ceased production during the first quarter of 2008.

 

General andadministrative costs increased from $9,108 incurred during the first quarter of2008 to $22,555 incurred during the first quarter of 2009. The increase isprimarily the result of a change in the method for allocating overhead topartnerships sponsored by Reef. Effective April 1, 2008 Reef implemented anew method for allocating overhead that takes actual overhead and allocates itbased upon the summation of revenues, expenses, and actual capital costsincurred. Under the prior method of allocating overhead, not all allocablegeneral and administrative expenses were charged to the partnerships sponsoredby Reef. The administrative overhead charge to the Partnership for the quarterended March 31, 2009 was $10,763, compared to $4,108 for the quarter endedMarch 31, 2008.  Despite theincrease in such costs in the quarter ended March 31, 2009, thePartnership expects that 2009 overall general and administrative costs willdecline from 2008 levels.

 

While oil prices began anupward movement beginning with March 2009 oil sales, gas prices havecontinued to decline and the Partnership expects to incur a loss during thesecond quarter based upon current prices.

 

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**Item 3.****   ****Quantitative and Qualitative Disclosures About Market Risk.**

 

Not Applicable.

 

**Item 4T.Controls and Procedures**

 

**Evaluation of Disclosure Controls and Procedures**

 

As the managing general partner of the Partnership, Reef maintains asystem of controls and procedures designed to provide reasonable assurance asto the reliability of the financial statements and other disclosures includedin this report, as well as to safeguard assets from unauthorized use ordisposition. The Partnership, under the supervision and with participation ofits management, including the principal executive officer and principalfinancial officer, evaluated the effectiveness of its “disclosure controls andprocedures” as such term is defined in Rule 13a-15(e) under theSecurities Exchange Act of 1934, as amended (the “Exchange Act”), as of the endof the period covered by this Quarterly Report. Based on that evaluation,  the principal executive officer and principalfinancial officer have concluded that the Partnership’s disclosure controls andprocedures are effective to ensure that information required to be disclosed bythe Partnership in reports that it files or submits under the Exchange Act isrecorded, processed, summarized, and reported within the time periods specifiedin Securities and Exchange Commission rules and forms, and includescontrols and procedures designed to ensure that information required to be disclosedby us in such reports is accumulated and communicated to our management,including the principal executive officer and principal financial officer, asappropriate to allow timely decisions regarding financial disclosure.

 

**Changesin Internal Controls**

 

Therehave not been any changes in the Partnership’s internal controls over financialreporting during the fiscal quarter ended March 31, 2009 that havematerially affected, or are reasonably likely to materially affect, thePartnership’s internal control over financial reporting.

 

**PART II — OTHER INFORMATION**

 

**Item1.  Legal Proceedings**

 

None.

 

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

 

**Use of Proceeds**

 

In connection with theRegistration Statement filed on Form S-1 (No. 333-93399) and declaredeffective May 31, 2001, Reef filed a post-effective amendment to theRegistration Statement on behalf of the Program on September 14, 2001. On January 10,2002 Reef filed a final prospectus and commenced the offering of units in theProgram. All sales of Partnership units were made through the Program’sdealer-manager, Reef Securities, Inc., and a number of soliciting dealers.The Program filed a prospectus supplement describing the Partnership on September 21,2004 and commenced offering units. Under the terms of the offering, a minimumof 50 Partnership units at a price of $20,000 per unit were required to be soldin order to form the Partnership. Upon meeting this requirement, thePartnership was formed on November 10, 2004. The Partnership offeringconsisted of 375 units of limited partner interest and 125 units of generalpartner interest. The offering period ended on December 2, 2004, at whichtime all 500 allowable units had been sold. Investor partners purchased 349.972limited partner units and 125 general partner units. Reef purchased 25.028limited partner units, equaling 5.01% of the total Partnership units sold.Total offering proceeds were $9,924,916. Reef also contributed 1% of allleasehold, drilling, and completion costs as incurred, and reimbursed thePartnership 100% of the costs of drilling an unsuccessful development well and100% of the costs of drilling and completing a successful sidetrack to theunsuccessful developmental well in Louisiana. Reef paid the Partnership $273,440in connection with these obligations. Reef also retained interest income earnedby the Partnership totaling $68,585 to be used during the drilling phase ofoperations.

 

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All units except thosepurchased by Reef paid a 15% management fee to Reef to pay for Partnershiporganization and offering costs, including sales commissions. These coststotaled $1,424,916, leaving capital contributions of $8,842,025 available forPartnership oil and gas operations. As of March 31, 2009, the Partnershiphad expended $8,645,650 on property acquisitions and $112,843 on pre-productiongeneral and administrative expenses. The remainder has been retained forplugging and abandonment costs of productive wells. Drilling operations havebeen completed on the 13 prospects owned by the Partnership, and thePartnership has no plans to conduct further development operations on any Partnershipprospect.

 

**Item 3. Default Upon Senior Securities**

 

None.

 

**Item 4. Submission of Matters to a Vote of Security Holders**

 

None.

 

**Item 5. Other Information**

 

None.

 

**Item 6. Exhibits**

 
|   | Exhibits |                                                                                                               |
|--------|----------|--------------------------------------------------------------------------------------------------------------------|
|   |     |                                                                                                               |
|   | 31.1     | Certification of  Principal Executive Officer pursuant to Section 302 of the  Sarbanes-Oxley Act of 2002.     |
|   |     |                                                                                                               |
|   | 31.2     | Certification of  Principal Financial Officer pursuant to Section 302 of the  Sarbanes-Oxley Act of 2002.     |
|   |     |                                                                                                               |
|   | 32.1     | Certification of the  Principal Executive Officer pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002. |
|   |     |                                                                                                               |
|   | 32.2     | Certification of the  Principal Financial Officer pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002. |

 

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**SIGNATURES**

 

Pursuant to therequirements of the Securities Exchange Act of 1934, the registrant has dulycaused this report to be signed on its behalf by the undersigned, thereuntoduly authorized.

 
|                           | REEF GLOBAL ENERGY IV,  L.P. |
|--------------------------------|------------------------------|
|                           |                         |   |
|                           | By:                          | Reef Oil & Gas  Partners, L.P. |
|                           |                         | Managing General  Partner |
|                           |                         |   |
|                           | By:                          | Reef Oil & Gas  Partners, GP, LLC |
|                           |                         |   |
|                           |                         |   |
| Dated:  May 14, 2009 | By:                          | /s/ Michael J. Mauceli |
| ** **                     | ** **                   | **Michael J. Mauceli** |
|                           |                         | Manager and Member |
|                           |                         | (p*rincipal  executive officer)* |
|                           |                         |   |
|                           |                         |   |
| Dated:  May 14, 2009 | By:                          | /s/ L. Mark Price |
| ** **                     | ** **                   | **L. Mark Price** |
|                           |                         | Chief Financial Officer |
|                           |                         | Reef Exploration, L.P. |
|                           |                         | (p*rincipal  financial and accounting officer)* |

 

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**EXHIBIT INDEX**

 
| **Exhibits** | ** ** | ** **                                                                                                         |
|--------------|------------|--------------------------------------------------------------------------------------------------------------------|
|         |       |                                                                                                               |
| 31.1         |       | Certification of  Principal Executive Officer pursuant to Section 302 of the  Sarbanes-Oxley Act of 2002.     |
|         |       |                                                                                                               |
| 31.2         |       | Certification of  Principal Financial Officer pursuant to Section 302 of the  Sarbanes-Oxley Act of 2002.     |
|         |       |                                                                                                               |
| 32.1         |       | Certification of the  Principal Executive Officer pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002. |
|         |       |                                                                                                               |
| 32.2         |       | Certification of the  Principal Financial Officer pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002. |

 

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