# **UNITED STATES**

**SECURITIES AND EXCHANGECOMMISSION**

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

----

## **FORM10-Q**

----

| **QUARTERLY REPORT PURSUANT TO  SECTION 13 OR 15(d) OF** |
|----------------------------------------------------------|
| **THE  SECURITIES EXCHANGE ACT OF 1934**                 |
| ** **                                               |
| **For the  quarterly period ended June 30, 2007**        |
| ** **                                               |
| **Commission  File Number: 333-122935-04**               |

 

----

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

(Exact name of registrant asspecified in its charter)

| **Nevada**                                 |   | **20-8785577**                        |
|--------------------------------------------|--------|---------------------------------------|
| (State or other  jurisdiction of           |   | (I.R.S. employer                      |
| incorporation or  organization)            |   | identification  no.)                  |
|                                       |   |                                  |
| **1901 N.  Central Expressway, Suite 300** |   | ** **                            |
| **Richardson,  Texas 75080**               |   | **(972)  437-6792**                   |
| (Address of  principal executive offices,  |   | (Registrant’s  telephone number, |
| including zip  code)                       |   | including area  code)                 |

 

----

Indicate by checkmark whether the registrant (1) has filed all reports required to be filedby Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes x    No o

Indicate by check mark whether the registrant is alarge accelerated filer, an accelerated filer, or a non-accelerated filer. Seedefinition of “accelerated filer and large accelerated filer” in Rule 12b-2 ofthe Exchange Act

| Large accelerated filer o |   | Accelerated  filer o |   | Non-accelerated  filer x |
|---------------------------|--------|----------------------|--------|--------------------------|

 

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

**As of August 14, 2007, the registrant had 22.792units held by the managing general partner, 364.561 units of additional generalpartner interest and 68.480 units of limited partner interest outstanding.**

 

----

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

**Index**
| **PART I – FINANCIAL  INFORMATION**                                                                                                                                    |       |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|
|                                                                                                                                                                        |       |
| **ITEM 1. FINANCIAL STATEMENTS  (Unaudited)**                                                                                                                               |       |
| *Condensed Balance Sheet*                                                                                                                                                   |       |
| *Condensed  Statement of Operations*                                                                                                                                        |       |
| *Condensed  Statement 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 4. CONTROLS AND  PROCEDURES**                                                                                                                                        |       |
| ** **                                                                                                                                                                  |       |
| **PART II – OTHER  INFORMATION**                                                                                                                                       |       |
| ** **                                                                                                                                                                  |       |
| **ITEM 1. LEGAL PROCEEDINGS**                                                                                                                                               |       |
| ** **                                                                                                                                                                  |       |
| **ITEM 1A. RISK FACTORS**                                                                                                                                                   |       |
| ** **                                                                                                                                                                  |       |
| **ITEM 2. UNREGISTERED  SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**                                                                                                    |       |
| ** **                                                                                                                                                                  |       |
| **ITEM 3.  DEFAULTS UPON SENIOR SECURITIES**                                                                                                                                |       |
| ** **                                                                                                                                                                  |       |
| **ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**                                                                                                            |       |
| ** **                                                                                                                                                                  |       |
| **ITEM 5. OTHER INFORMATION**                                                                                                                                               |       |
| ** **                                                                                                                                                                  |       |
| **ITEM 6. EXHIBITS**                                                                                                                                                        |       |
| ** **                                                                                                                                                                  |       |
| **SIGNATURES**                                                                                                                                                              |       |

 

i

----

# **PART IFINANCIAL INFORMATION**

## **Item1. Financial Statements**

**ReefGlobal Energy IX, L.P.**

**Condensed Balance Sheet**
|                                               | ** ** | **June 30,** | ** **    |
|-----------------------------------------------|------------|-------------------|---------------|
| ** **                                    | ** ** | **2007**          | ** **    |
| ** **                                    | ** ** | **(Unaudited)**   | ** **    |
| ** **                                    |       |              |          |
| **Assets**                                    |       |              |          |
| ** **                                    |       |              |          |
| **Current  assets:**                          |       |              |          |
| Cash and cash equivalents                     | ** ** | **$**             | **6,218,421** | ** ** |
| Accounts receivable from affiliates           |       | 385,968           |          |
| **Total  current assets**                     | ** ** | **6,604,389**     | ** **    |
|                                          |       |              |          |
| **Property  and equipment:**                  |       |              |          |
| Unproved properties                           |       | 1,600,000         |          |
| **Net  property and equipment**               | ** ** | **1,600,000**     | ** **    |
| ** **                                    | ** ** | ** **        | ** **    |
| **Total  assets**                             | ** ** | **$**             | **8,204,389** | ** ** |
| ** **                                    |       |              |          |
| **Liabilities  and partnership Equity**       |       |              |          |
|                                          |       |              |          |
| **Current  liabilities:**                     |       |              |          |
| Accounts payable to affiliates                |       | $                 | 339,192       |   |
| **Total  current liabilities**                | ** ** | **339,192**       | ** **    |
|                                          |       |              |          |
| **Noncurrent  liabilities:**                  |       |              |          |
| Accounts payable to affiliates                |       | 121,434           |          |
| **Total  non-current liabilities**            | ** ** | **121,434**       | ** **    |
| ** **                                    |       |              |          |
| **Partnership  Equity**                       |       |              |          |
| General partners                              |       | 6,276,178         |          |
| Limited partners                              |       | 1,077,848         |          |
| Managing general partner                      |       | 389,737           |          |
| **Partnership  equity**                       | ** ** | **7,743,763**     | ** **    |
| ** **                                    | ** ** | ** **        | ** **    |
| **Total liabilities and  partnership equity** | ** ** | **$**             | **8,204,389** | ** ** |

 

*See accompanying notes to condensed financialstatements.*

1

----

**ReefGlobal Energy IX, L.P.**

**Condensed Statement of Operations**
|                                               | ** ** | **Period from  inception  (April 6, 2007)  to June 30, 2007** | ** **  |
|-----------------------------------------------|------------|---------------------------------------------------------------------------------------------|-------------|
| ** **                                    | ** ** | **(Unaudited)**                                                                             | ** **  |
|                                          |       |                                                                                        |        |
| **Costs  and expenses:**                      | ** ** | ** **                                                                                  | ** **  |
| General and administrative expenses           | ** ** | $                                                                                           | 726         | ** ** |
| Organization expenses                         |       | 50,000                                                                                      |        |
| **Total  costs and expenses**                 | ** ** | **50,726**                                                                                  | ** **  |
|                                          |       |                                                                                        |        |
| **Loss  from operations**                     | ** ** | **(50,726**                                                                                 | **)**       |
|                                          |       |                                                                                        |        |
| **Other  income:**                            | ** ** | ** **                                                                                  | ** **  |
| Interest income                               |       | 25,121                                                                                      |        |
| **Total  other income**                       | ** ** | **25,121**                                                                                  | ** **  |
|                                          |       |                                                                                        |        |
| **Net  loss**                                 | ** ** | **$**                                                                                       | **(25,605** | **)** |
|                                          |       |                                                                                        |        |
| Net loss per  general partner unit            | ** ** | $                                                                                           | (85.12      | ) |
| Net loss per limited  partner unit            | ** ** | $                                                                                           | (85.12      | ) |
| Net income per  managing general partner unit | ** ** | $                                                                                           | 207.50      |   |

 

*Seeaccompanying notes to condensed financial statements.*

2

----

**ReefGlobal Energy IX, L.P.**

**Condensed Statement of Cash Flows**
|                                                                                 | ** ** | **Period from  inception  (April 6, 2007)  to June 30, 2007** | ** **    |
|---------------------------------------------------------------------------------|------------|---------------------------------------------------------------------------------------------|---------------|
| ** **                                                                      | ** ** | **(Unaudited)**                                                                             | ** **    |
| ** **                                                                      |       |                                                                                        |          |
| **Operating  Activities**                                                       |       |                                                                                        |          |
| Net loss                                                                        | ** ** | $                                                                                           | (25,605       | ) |
| Adjustments to  reconcile net loss to net cash used in operating activities:    |       |                                                                                        | ** **    |
| **Changes  in operating assets and liabilities:**                               |       |                                                                                        | ** **    |
| Accounts payable to affiliates                                                  |       | 250                                                                                         | ** **    |
| **Net  cash used in operating activities**                                      | ** ** | **(25,355**                                                                                 | **)**         |
|                                                                            | ** ** | ** **                                                                                  | ** **    |
| **Investing  Activities**                                                       | ** ** | ** **                                                                                  | ** **    |
| Property acquisition and development                                            |       | (1,600,000                                                                                  | )             |
| **Net  cash used in investing activities**                                      | ** ** | **(1,600,000**                                                                              | **)**         |
|                                                                            | ** ** | ** **                                                                                  | ** **    |
| **Financing  Activities**                                                       | ** ** | ** **                                                                                  | ** **    |
| Partner capital contributions                                                   |       | 8,627,529                                                                                   | ** **    |
| Offering costs                                                                  |       | (783,753                                                                                    | )             |
| **Net  cash provided by financing activities**                                  | ** ** | **7,843,776**                                                                               | ** **    |
|                                                                            | ** ** | ** **                                                                                  | ** **    |
| **Net  increase in cash and cash equivalents**                                  | ** ** | **6,218,421**                                                                               | ** **    |
| Cash and cash  equivalents at beginning of period                               |       | —                                                                                      | ** **    |
| **Cash  and cash equivalents at end of period**                                 | ** ** | **$**                                                                                       | **6,218,421** | ** ** |
|                                                                            | ** ** | ** **                                                                                  | ** **    |
| Non-cash  financing transactions:                                               | ** ** | ** **                                                                                  | ** **    |
| Managing partner contributions included in accounts  receivable from affiliates | ** ** | $                                                                                           | 385,968       | ** ** |
| Offering costs included in accounts payable to  affiliates                      | ** ** | $                                                                                           | 338,942       | ** ** |
| Offering costs  included in non-current accounts payable to affiliates          | ** ** | $                                                                                           | 121,434       | ** ** |

 

*Seeaccompanying notes to condensed financial statements.*

3

----

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

**Notes toCondensed Financial Statements (unaudited)**

**June 30, 2007**

**1. Organization and Basis of Presentation**

Reef Global Energy IX, L.P. (the Partnership) is the fourth in a seriesof four Nevada limited partnerships comprising a program called Reef GlobalEnergy Ventures II (the Program), pursuant to an S-1 Registration Statementdeclared effective by the Securities and Exchange Commission (the SEC) on July7, 2005. In order to be formed, each partnership was required to sell a minimumof 40 partnership units at $25,000 per unit, including units purchased by themanaging general partner. The Program was authorized to sell up to 1,600limited partner units and 6,400 general partner units during the periodbeginning July 8, 2005 thru July 7, 2007. Reef Global Energy IX, L.P. offered2,000 units for sale ($50,000,000), consisting of up to 400 limited partnerunits and up to 1,600 general partner units. Investor funds were held in escrowand were subject to reimbursement with interest if the minimum number of units wasnot sold. The Program filed a prospectus supplement with the SEC on February15, 2007 describing the Partnership, and commenced offering units in thePartnership. Upon reaching the minimum subscription level, the Partnership wasformed on April 6, 2007. The Partnership offering closed July 7, 2007. At June30, 2007, sales to outside investors totaled 294.521 general partner units and50.580 limited partner units, and sales to the managing general partner totaled18.163 general partner units.

The Partnership is a Nevada limited partnership formed under the NevadaUniform Limited Partnership Act. Reef Oil & Gas Partners, L.P. (Reef)serves as the Partnership’s managing general partner. Partnership interests areheld by the managing general partner and investor partners who are general andlimited partners (investor partners). The managing general partner received a10% interest in the Partnership as compensation for forming the Partnership,and will also hold a 1% interest in the Partnership as a result of paying 1% ofall leasehold, drilling and completion costs. This 11% interest is notrepresented by Partnership units. In addition, Reef will purchase 5% of thePartnership units and, therefore, hold 5% of the 89% interest in thePartnership (4.45%) held by the unit holders. The Partnership plans to purchaseworking interests in exploratory and developmental drilling prospects and drilloil and gas wells located primarily onshore in the continental United States.Other partnerships formed as a part of this Program, as well as other privatedrilling partnerships managed by Reef may also own interests in the wellspurchased by this Partnership. In instances where Reef affiliated entities owna majority interest in a well, the well may be operated by OREI, Inc. (OREI) orReef Exploration, L.P. (RELP), affiliates of the managing general partner. Asof June 30, 2007, the Partnership had purchased a working interest in adevelopmental prospect operated by RELP upon which a minimum of eight wells areexpected to be drilled. The Partnership expects to purchase working interestsin additional prospects and conduct drilling activities during 2007 and 2008 onthose prospects purchased by the Partnership.

During the year following completion of the drilling phase of the Partnership,all investor general partner units will be converted into limited partnerunits. Limited partners do not have any rights to convert their units togeneral partner units.

Under the terms of the partnership agreement, certain expense items areallocated differently between the managing general partner and the investorpartners. Organization and offering costs are allocated 100% to investorpartners as the managing general partner purchases its units net of the 15% feefor organization and offering costs. Cash distributions to partners of the netcash flow from interest income and oil and gas sales revenues, less operating,general and administrative, and other costs will be distributed 15.45% to themanaging general partner (based upon the 11% interest not represented by unitsand the 4.45% interest represented by Partnership units) and 84.55% to investorpartners.

4

----

**2. Summary of Accounting Policies**

**Use of Estimates**

The preparation of financial statements in conformity with accountingprinciples generally accepted in the United States of America requiresmanagement to make estimates and assumptions that affect the amounts reportedin the financial statements and accompanying notes. Actual results could differfrom these estimates.

**Cash and Cash Equivalents**

The Partnership considers all highly liquid investments with maturitydates of no more than three months from the purchase date to be cashequivalents. Cash and cash equivalents consist of demand deposits and moneymarket investments invested with a major national bank. The carrying value ofthe Partnership’s cash equivalents approximates fair value.

**Risksand Uncertainties**

Historically, the oil and gas market has experienced significant pricefluctuations. Prices are impacted by local weather, supply in the area,availability and price of competitive fuels, seasonal variations in localdemand, limited transportation capacity to other regions, and the worldwidesupply and demand balance for crude oil.

The Partnership does not expect to engage in commodity futures tradingor hedging activities and does not expect to enter into derivative financialinstrument transactions for trading or other speculative purposes. Accordingly,the Partnership will be at risk for the volatility in commodity prices inherentin the oil and gas industry, and the level of commodity prices will have asignificant impact on the Partnership’s results of operations.

**Organizationand Offering Costs**

Organization and offering costs total 15% of investor capitalcontributions, except for units purchased by the managing general partner,which are purchased net of the 15% cost. Partnership organization coststotaling $50,000 have been expensed in the financial statements for the periodfrom inception (April 6, 2007) to June 30, 2007. Offering costs represent costsincurred in conjunction with the offering of partnership units. These costs,totaling $1,244,129 as of June 30, 2007, have been recorded as a reduction ofthe proceeds of the offering.

**Oil andGas Properties**

The Partnershipfollows the full cost method of accounting for crude oil and natural gasproperties. Under this method, all direct costs and certain indirect costsassociated with acquisition of properties and successful as well asunsuccessful exploration and development activities are capitalized.Depreciation, depletion, and amortization of capitalized crude oil and naturalgas properties and estimated future development costs, excluding unprovedproperties, are based on the unit-of-production method using proved reserves.  Proved gas reserves are converted toequivalent barrels at a rate of 6 Mcf to 1 Bbl. Net capitalized costs of crudeoil and natural gas properties, as adjusted for asset retirement obligations,are limited to the lower of unamortized cost or the cost ceiling, defined asthe sum of the present value of estimated future net revenues from provedreserves based on un-escalated prices discounted at 10 percent, plus the costof properties not being amortized, if any, plus the lower of cost or estimatedfair value of unproved properties included in the costs being amortized, ifany. Excess costs are charged to property impairment expense. No gain or lossis recognized upon sale or disposition of crude oil and natural gas properties,except in unusual circumstances. During the period from inception (April 6, 2007) to June 30, 2007,the Partnership held no productive oil and gas assets and recognized noproperty impairment.

5

----

**Restoration, Removal, andEnvironmental Liabilities**

The Partnership is subject to extensive Federal, state and localenvironmental laws and regulations. These laws regulate the discharge ofmaterials into the environment and may require the Partnership to remove ormitigate the environmental effects of the disposal or release of petroleumsubstances at various sites. Environmental expenditures are expensed orcapitalized depending on their future economic benefit. Expenditures thatrelate to an existing condition caused by past operations and that have nofuture economic benefit are expensed.

Liabilities for expenditures of a non-capital nature are recorded whenenvironmental assessments and/or remediation is probable, and the costs can bereasonably estimated. Such liabilities are generally undiscounted values unlessthe timing of cash payments for the liability or component is fixed or reliablydeterminable.

Statement of Financial Accounting Standards No. 143, “Accounting forRetirement Obligations” (SFAS 143) addresses accounting and reporting forobligations associated with the retirement of tangible long-lived assets andthe associated asset retirement costs. SFAS 143 requires that the fair value ofa liability for an asset’s retirement obligation be recorded in the period inwhich it is incurred and the corresponding cost capitalized by increasing thecarrying amount of the related long-lived asset. The liability is accreted toits then present value each period, and the capitalized cost is depreciatedover the useful life of the related asset. SFAS 143 is effective for thePartnership as of its inception date. As of June 30, 2007 thePartnership had no productive long-lived assets and therefore had no assetretirement obligations.

**Recognitionof Revenue**

The Partnershipexpects to enter into sales contracts for disposition of its share of oil and gasproduction from productive wells. Revenues are recognized based upon thePartnership’s share of metered volumes delivered to its purchasers each month.

Gas imbalancessometimes occur when certain working interest parties do not take theirentitled share of gas production. The Partnership will utilize the sales methodof accounting for recording imbalances. Under this method, the Partnershiprecords as revenue all gas delivered for its account. Any significant over orunder balanced gas positions will be recorded in the financial statements. Asof June 30, 2007, the Partnership had no oil and gas production, and,therefore, had no gas imbalances.

**Income Taxes**

The Partnership’s net income or loss flows directly through to itspartners, who are responsible for the payment of Federal taxes on theirrespective share of any income or loss. Therefore, there is no provision forfederal income taxes in the accompanying financial statements.

**3. Transactions with Affiliates**

The Partnership has no employees. RELP, an affiliate of Reef formed in2005, 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.No technical services or administrative costs were incurred by the Partnershipfor the period from inception (April 6, 2007) to June 30, 2007.

6

----

Accounts payable to affiliates totaled $339,192 as of June 30, 2007.The balance includes $338,942 due Reef for the unpaid portion of the 15%management fee paid for organization and offering costs, including salescommissions, and $250 due as reimbursement for third party administrativeexpenses paid by RELP.

Non-current accounts payable to affiliates as of June 30, 2007 totals$121,434, representing the unpaid portion of the 15% management fee dueReef for organization and offering costs, including sales commissions. Themanagement fee is payable in two parts. Reef initially receives an amount notto exceed 13.5% to recover actual commissions and organization and offering costs.The $121,434 represents the portion of the management fee in excess of actualcommissions and organization and offering costs, and will be paid to Reef fromthe oil and gas cash flows available for partner distributions, at a rate notto exceed $1 million per year. The timing of the recovery is solely at thediscretion of the managing general partner. The Partnership currently has no productive properties. The liabilityhas been classified as non-current on the balance sheet presented because theinitial date and timing of repayment is currently unknown.

The Partnership has a receivable from Reef at June 30, 2007 related toits capital contribution. The balance due consists of $385,968 for the purchaseof 18.163 Partnership units (5%). Reef is required to purchase a minimum of 5%of the units in the Partnership at a price net of the 15% management fee. Reefpaid the $385,968 during August 2007.

If an affiliate of Reef serves as operator of a Partnership prospect,then operator fees will be payable to the affiliate. Under such circumstances,such affiliate will receive fees at the competitive rate in the area during thedrilling and production phase of operations. Often these are charged as amonthly fee per well as agreed to in an operating agreement signed by thePartnership as well as outside third party working interests in the well.During the period from inception (April 6, 2007) to June 30, 2007, thePartnership had no drilling or production activities and paid no operator feesto RELP in connection with this obligation.

**4. Major Customers**

The Partnership will sell crude oil and natural gas on credit terms torefiners, pipelines, marketers, and other users of petroleum commodities.Revenues will be received directly from these parties or, in certain circumstances,paid to the operator of the property who disburses to the Partnership itspercentage share of the revenues. As of June 30, 2007, the Partnership had nooil and gas production and, therefore, had no customers. Due to the competitivenature of the market for purchase of crude oil and natural gas, the Partnershipdoes not believe that the loss of any particular purchaser would have amaterial adverse impact on the Partnership.

**5.Commitments and Contingencies**

The Partnership is not currently involved in any legal proceedings.

**6.Partnership Equity**

Sales of Partnership units began on February 15, 2007. Proceedsreceived were placed into an interest bearing escrow account until thePartnership reached the minimum subscription level of 40 units. The Partnershipwas formed on April 6, 2006, and the sale of Partnership units was closed onJuly 7, 2007. As of June 30, 2007, the Partnership had raised $8,627,529 fromthe sale of 345.101 Partnership units to investor partners. Reef had purchased18.163 units (5%) for $385,968. Reef will also contribute 1% of all leasehold,drilling, and completion costs when incurred, in addition to paying its prorata share (4.95%) of the leasehold, drilling, and completion costs paid by thePartnership.

As of June 30, 2007, the Partnership has $7,719,368 available forPartnership oil and gas operations, net of the 15% management fee of$1,294,129. Of the $1,294,129 management fee, offering costs were $1,244,129and organization costs were $50,000.

7

----

Reef exclusively manages and controls all aspects of the business ofthe Partnership. The Partnership agreement prohibits participation by investorpartners in the Partnership’s day-to-day business decisions.

**7.Partnership Projects**

As of June 30, 2007, the Partnership has purchased an interest in adevelopmental prospect operated by RELP upon which a minimum of eight wells areexpected to be drilled. Drilling operations commenced in August 2007 on theinitial well. The Partnership expects to purchase working interests inadditional prospects and conduct drilling operations during 2007 and 2008 onthose prospects. The Partnership expects to drill a total of approximately10-12 wells with the capital raised by the Partnership.

**8. Subsequent Events**

The Partnership offering closed on July 7, 2007. The Partnership raised$10,826,028 from the sale of 433.041 Partnership units to investor partners.Reef purchased 22.792 units (5%) for $484,322. Reef will also contribute 1% ofall leasehold, drilling, and completion costs when incurred, in addition topaying its pro rata share (4.95%) of the leasehold, drilling, and completioncosts paid by the Partnership.

As of July 7, 2007, the Partnership had $9,686,446 available forPartnership oil and gas operations, net of the 15% management fee of$1,623,904. Of the $1,623,904 management fee, offering costs were $1,573,904and organization costs were $50,000.

**Item 2. Management’s Discussion and Analysis of Financial Condition and Resultsof Operations.**

The following is a discussion of the Partnership’s financialposition, results of operations, liquidity and capital resources. Theinformation below should be read in conjunction with the condensed financialstatements and the related notes to the condensed financial statements.

This Report onForm 10-Q contains forward-looking statements that involve risks anduncertainties. You should exercise extreme caution with respect to allforward-looking statements made in this Report.  Specifically, thefollowing statements are forward-looking:

·                                     statementsregarding the Partnership’s overall strategy for acquiring prospects, includingits intent to diversify the Partnership’s investments;

·                                     statementsestimating any number or specific type or size of prospects the Partnership mayacquire or size of the interest the Partnership may acquire in such prospects;

·                                     statementsregarding the state of the oil and gas industry and the opportunity to profitwithin the oil and gas industry, competition, pricing, level of production, orthe regulations that may affect the Partnership;

·                                     statementsregarding the plans and objectives of Reef for future operations, including,without limitation, the uses of Partnership funds and the size and nature ofthe costs the Partnership expects to incur and people and services thePartnership may employ;

·                                     anystatements using the words “anticipate,” “believe,” “estimate,” “expect” andsimilar such phrases or words; and

·                                     anystatements of other than historical fact.

Reef believes thatit is important 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 Program’s prospectus datedJuly 14, 2006 and prospectus supplement dated February 15, 2007. 

8

----

Although Reefbelieves that 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 notintend to update its forward-looking statements.  All subsequent writtenand oral forward-looking statements attributable to Reef or persons acting onits behalf are expressly qualified in their entirety by the applicablecautionary statements.

**Overview**

Reef Global EnergyIX, L.P. is a Nevada limited partnership formed to acquire, explore, developand produce crude oil, natural gas, and natural gas liquids for the benefit ofits investor partners. The Partnership’s primary purposes are to generaterevenues from the production of oil and gas, distribute cash flow to investors,and provide tax benefits to investors. The majority of the Partnership’sproceeds will be used to purchase prospects upon which the Partnership willconduct drilling operations, and to pay for such drilling operations.

To date, thePartnership has purchased an interest in one developmental prospect located inNew Mexico and operated by RELP upon which it expects to drill a minimum ofeight developmental wells. The Partnership expects to purchase interests inadditional prospects and drill approximately 10-12 wells in total with itsavailable capital. The Partnership expects to operate solely in the UnitedStates, although there are no restrictions regarding prospect locations. RELP,an affiliate of the managing general partner, and its predecessor entity, OREI,Inc., have expertise and have drilled and operated wells primarily in Texas andLouisiana since 1987.

The Partnershipdoes not operate in any other industry segment. Should any prospect in whichthe Partnership has an interest be determined to warrant additional developmentactivity, the Partnership may borrow any amount up to 25% of the Partnership’saggregate capital contributions without the consent of the investor partners,provided the lender agrees it will have no recourse against individual investorpartners. The Partnership is prohibited from issuing additional cash calls toinvestor partners. Total borrowings cannot exceed 25% of the Partnership’saggregate capital contributions without the approval of the investor partners.The Partnership is not allowed to borrow funds during the drilling phase ofPartnership operations. Should the Partnership elect to borrow monies foradditional development activity on Partnership properties, it will be subjectto the interest rate risk inherent in borrowing activities. The Partnership ispermitted but has not and is not expected to engage in commodity futurestrading or hedging activities, and therefore is subject to commodity pricerisk.   See “Item 3—Quantitative and Qualitative Disclosures AboutMarket Risk.”

**Critical Accounting Policies**

The preparation offinancial statements in conformity with accounting principles generallyaccepted in the United States requires us to make estimates and use assumptionsthat can affect the reporting of assets, liabilities, equity, revenues, andexpenses. We base our estimates on historical experience and various otherassumptions that are believed to be reasonable under the circumstances. Actualresults may differ from these estimates under different assumptions orconditions. We are also required to select among alternative acceptableaccounting policies. See Note 2 to the condensed financial statements for acomplete list of significant accounting policies.

**Oil and Gas Properties**

The Partnership follows the full cost method of accounting forcrude oil and natural gas properties. Under this method, all direct costs andcertain indirect costs associated with acquisition of properties and successfulas well as unsuccessful exploration and development activities are capitalized.Depreciation, depletion, and amortization of capitalized crude oil and naturalgas properties and estimated future development costs, excluding unprovedproperties, are based on the unit-of-production method using provedreserves.  Proved gas reserves areconverted to equivalent barrels at a rate of 6 Mcf to 1 Bbl. Net capitalizedcosts of crude oil and natural gas properties, as adjusted for asset retirementobligations, are limited to the lower of unamortized cost or the cost ceiling,defined as the sum of the present value of estimated future net revenues fromproved reserves based on un-escalated prices discounted at 10 percent, plus thecost of properties not being amortized, if any, plus the lower of cost orestimated fair value of unproved properties included in the costs beingamortized, if any.

9

----

Excess costs are charged to property impairment expense. No gainor loss is recognized upon sale or disposition of crude oil and natural gasproperties, except in unusual circumstances. During the period from inception(April 6, 2007) to June 30, 2007, the Partnership held no productive oil andgas assets and recognized no property impairment.

The estimate of proved oil and gas reserves used to determineproperty impairment expense, and also utilized in the Partnership’s disclosuresof supplemental information regarding oil and gas producing activities,including the standardized measure of discounted cash flows, is prepared by apetroleum engineer employed by RELP utilizing the period end prices and costsas promulgated by the Securities and Exchange Commission (SEC). Reserveengineering is a subjective and inexact process of estimating undergroundaccumulations of oil and natural gas that cannot be measured in an exactmanner. The accuracy of any reserve estimate is a function of the quality ofavailable data and of engineering and geological interpretation and judgment.Accordingly, reserve estimates may be subject to upward or downwardadjustments. Actual production, revenues and expenditures with respect toreserves will likely vary from estimates, and such variances could be material.The Partnership held no productive oil and gas assets at June 30, 2007, andtherefore has no estimated reserves.

The determination of depreciation, depletion and amortizationexpense recognized in the financial statements is also dependent upon theestimates of proved oil and gas reserves. The Partnership utilizes a petroleumengineer employed by RELP to prepare an estimate of proved reserves, utilizingthe period end prices and costs as promulgated by the SEC, which is used todetermine depreciation, depletion and amortization for financial statementpurposes. Reserve engineering is a subjective and inexact process of estimatingunderground accumulations of oil and natural gas that cannot be measured in anexact manner. The accuracy of any reserve estimate is a function of the qualityof available data and of engineering and geological interpretation andjudgment. Accordingly, reserve estimates are often different from thequantities of oil and gas ultimately recovered. Depreciation, depletion andamortization expense is computed using the units-of-production method basedupon this estimate of proved reserves. During the period from inception (April6, 2007) to June 30, 2007, the Partnership had no production of proved reservesand therefore has no depreciation, depletion, and amortization expense.

The Partnership follows Statement of Financial AccountingStandards No. 143, “Accounting for Asset Retirement Obligations,” for allproductive oil and gas wells drilled by the Partnership. This statementrequires the Partnership to estimate the fair value of asset retirementobligations (dismantlement and abandonment of oil and gas wells and siterestoration) in the period in which the asset is placed in service. Theliability recognized is offset by a corresponding increase in the carryingvalue of the asset. Each period the liability is accreted to its net presentvalue with a corresponding charge to accretion expense, and the additionalasset cost is amortized using the units-of-production method. Upon settlementof the obligation a gain or loss is recognized to the extent actual charges areless than or exceed the liability recorded. As of June 30, 2007, thePartnership had no productive long-lived assets and therefore had no assetretirement obligations.

**Recognition of Revenue**

The Partnership will enter into sales contracts for disposition ofits share of oil and gas production from productive wells. Revenue isrecognized based upon the metered volumes delivered to those purchasers eachmonth.

Gas imbalances sometimes occur when certain working interestparties do not take their entitled share of gas production. The Partnershipwill utilize the sales method of accounting for recording gas imbalances. Underthis method, the Partnership will record as revenue all gas delivered for itsaccount. Any significant over or under balanced gas positions will be disclosedin the financial statements. As of June 30, 2007, the Partnership had no gasproduction and therefore had no gas imbalances.

For a discussion of risk factors thatcould impact the Partnership’s financial results, please see Item IA of thisReport.

10

----

**Liquidityand Capital Resources**

Although thePartnership had been formed, it continued to raise capital after June 30,2007.  As of June 30, 2007, thePartnership had raised $8,627,529 from the sale of 294.521 additional generalpartner units and 50.580 limited partner units. Reef is required to purchase at least 5% of the Partnership units andpurchased 18.163 general partner units (5%) for a total of $385,968 at June 30,2007. The units purchased by Reef were paid for in August 2007. Organizationand offering costs total $1,294,129, leaving available cash of $7,719,368 forPartnership activities. The Partnership has purchased an interest in onedevelopmental prospect and is currently evaluating other prospects. The initialwell on the prospect purchased by the Partnership began drilling operations inAugust 2007.

Drillingoperations began in August 2007 and are expected to continue during theremainder of 2007 and 2008. During this period, the Partnership expects toutilize the capital raised through July 7, 2007, the termination date of the offering,for lease acquisition, drilling activities, and general and administrativeexpenses. The funds available to the Partnership as of July 7, 2007 were$9,686,446. The Partnership will pay 100% of general and administrative costsand 99% of the lease acquisition, drilling and completion costs from thesefunds. Reef, the managing general partner, will make additional capitalcontributions totaling 1% of all lease acquisition, drilling and completioncosts incurred, in addition to the 4.95% share of costs it will pay for as aunit holder. To date, the Partnership has acquired working interests in onedevelopment drilling project with eight planned wells having estimated costs of$4.54 million. The Partnership will acquire additional working interests duringthe next several months. Drilling activity will be conducted solely withinitial capital. Should additional development activity on certain Partnershipprospects be required, the Partnership Agreement allows the Partnership toeither use available funds or borrow money from banks or other financialsources in any amount up to 25% of Partnership capital contributions withoutinvestor partner consent. Any aggregate borrowings in excess of 25% ofPartnership capital contributions must be approved by the investor partners.The Partnership expects to distribute net proceeds, if any, from successful oiland gas activities directly to the partners and to reimburse to Reef any unpaidmanagement fees.

Until initialdrilling operations are completed it is not known whether any borrowings willbe required for additional developmental activities.  The Partnership is prohibited from raisingadditional capital through voluntary or involuntary partner cash calls.

**Results of Operations**

Because thePartnership was formed on April 6, 2007, there is no comparable information forthe three and six month periods ended June 30, 2006.

**Periodfrom Inception (April 6, 2007) thru June 30, 2007**

The Partnershipincurred a net loss of $25,605 during the period from inception (April 6, 2007)to June 30, 2007. The Partnership had interest income of $25,121 earned fromthe investment of investor partner funds, offset by $50,000 of organizationexpenses (a one time charge) and $726 of general and administrative costs.During the period, the Partnership purchased an interest in one developmentalprospect upon which a minimum of eight developmental wells are expected to bedrilled. The Partnership is not expected to have any oil and gas productionuntil September or October of 2007.

During the remainderof 2007, the Partnership will continue drilling operations on the developmentalprospect already purchased, and will review and evaluate other potentialdrilling prospects. Interest income from the investment of partnercontributions will increase during the third quarter due to additional sales ofpartner units. General and administrative expenses will increase as thePartnership will begin incurring legal, accounting and printing costs inconnection with required SEC filings. Administrative services costs provided byRELP will begin at such time as the Partnership has production activities,which is expected to occur in September or October 2007. Where possible, thePartnership will attempt to maximize intangible drilling cost deductions to investorpartners for 2007 by prepaying costs associated with wells the Partnershipexpects to begin drilling prior to March 31, 2008.

11

----

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

**Interest Rate Risk**

The PartnershipAgreement allows borrowings from banks or other financial sources in any amountup to 25% of the Partnership’s aggregate capital contributions without investorapproval, and allows aggregate borrowings in excess of 25% of the aggregatecapital contributions to the Partnership with the consent of investor partners.Borrowings are not allowed during the initial drilling phase of thePartnership, but only for additional development drilling and facilities costson Partnership prospects already drilled. Should the Partnership elect toborrow monies for additional development activity on Partnership properties, itwill be subject to the interest rate risk inherent in borrowing activities.Changes in interest rates could significantly affect the Partnership’s resultsof operations and the amount of net cash flow available for partnerdistributions. Also, to the extent that changes in interest rates affectgeneral economic conditions, the Partnership will be affected by such changes.

**Commodity Price Risk**

The Partnership ispermitted but is not expected to engage in commodity futures trading or hedgingactivities or enter into derivative financial instrument transactions fortrading or other speculative purposes. The Partnership expects to sell a vast majority of its production fromsuccessful oil and gas wells on a month-to-month basis at current spot marketprices. Accordingly, the Partnership is at risk for the volatility in commodityprices inherent in the oil and gas industry, and the level of commodity priceswill have a significant impact on the Partnership’s results of operations.

**ExchangeRate Risk**

The Partnershipcurrently has not committed funds to any foreign projects and has no incomefrom foreign sources or operations in foreign countries that would subject itto currency exchange rate risk. The Partnership does not currently expect topurchase any prospects located outside of the United States.

**Item 4. Controls and Procedures**

As the ManagingGeneral Partner of the Partnership, Reef maintains a system of controls andprocedures designed to provide reasonable assurance as to the reliability ofthe financial statements and other disclosures included in this report, as wellas to safeguard assets from unauthorized use or disposition. As of the end ofthe period covered by this report, Reef’s Principal Executive Officer and ChiefFinancial Officer have evaluated the effectiveness of the design and operationof the Partnership’s disclosure controls and procedures (as defined in Rule13a-15(e) of the Securities Exchange Act of 1934) with the assistance andparticipation of other members of management. Based upon that evaluation, Reef’sPrincipal Executive Officer and Chief Financial Officer concluded that as ofJune 30, 2007, Reef’s disclosure controls and procedures were effective at areasonable assurance level for gathering, analyzing and disclosing theinformation the Partnership is required to disclose in the reports it filesunder the Securities Exchange Act of 1934 within the time periods specified inthe SEC’s rules and forms. During our fiscal quarter ended June 30, 2007, nochanges occurred in our internal control over financial reporting (as definedin Rule 13a-15(f) under the Securities Exchange Act of 1934) that havematerially affected, or are reasonably likely to materially affect, ourinternal control over financial reporting.

**PART II – OTHER INFORMATION**

**Item 1. Legal Proceedings**

None

**Item 1A.Risk Factors**

**Oil andgas drilling is a speculative activity involving numerous risks and substantialand uncertain costs which could adversely affect the Partnership.**

12

----

Drilling for oiland natural gas involves numerous risks, including the risk that nocommercially productive oil and/or natural gas reserves will be discovered.There can be no assurance that wells drilled by the Partnership will beproductive or recover all or any portion of the investment in such wells.Drilling and completion costs are substantial and uncertain, and drillingoperations may be curtailed, delayed, or cancelled due to a variety of factorsbeyond our control, including shortages or delays in the availability ofdrilling rigs and crews, unexpected drilling conditions, title problems,pressure or irregularities in formations, equipment failures or accidents,adverse weather conditions, and compliance with environmental and othergovernmental regulations. Our drilling activities may not be successful and, ifunsuccessful, will have an adverse effect on the Partnership’s results ofoperations and cash flow available for distribution to the partners. Unexpectedcosts incurred in the drilling of certain wells may limit the total number ofwells the Partnership is able to drill with the capital raised by thePartnership, thus increasing the overall risk of the Partnership’s drillingprogram.

**Oil andnatural gas prices are volatile.**

The financialcondition, results of operations, and the carrying value of our oil and naturalgas properties depend primarily upon the prices received for our oil andnatural gas production. Oil and natural gas prices historically have beenvolatile and likely will continue to be volatile given current geopoliticalconditions. Cash flow from operations is highly dependent upon the sales pricesreceived from oil and natural gas production. The prices for oil and naturalgas are subject to a variety of factors beyond our control. These factorsinclude:

·                                          thelevel of consumer demand for oil and natural gas;

·                                          thedomestic and foreign supply of oil and natural gas;

·                                          theability of the members of  OPEC to agreeto and maintain oil price and production controls;

·                                          theprice of foreign oil and natural gas;

·                                          domesticgovernment regulations and taxes;

·                                          theprice and availability of alternative fuel sources;

·                                          weatherconditions, including hurricanes and tropical storms in and around the Gulf of Mexico;

·                                          marketuncertainty;

·                                          politicalconditions in oil and natural gas producing regions, including the Middle East;and

·                                          worldwideeconomic conditions.

These factors andthe volatility of the energy markets make it extremely difficult to predict pricemovements. Also, oil and natural gas prices do not necessarily move in tandem.Declines in oil and natural gas prices would not only reduce revenues and cashflow available for distributions to partners, but could reduce the amount ofoil and natural gas that can be economically produced from successful wellsdrilled by the Partnership, and, therefore, have an adverse effect uponfinancial condition, results of operations, oil and gas reserves, and thecarrying value of the Partnership’s oil and natural gas properties.

The Partnership,while not prohibited from engaging in commodity trading or hedging activitiesin an effort to reduce exposure to short-term fluctuations in the price of oiland natural gas, currently does not expect to engage in such activities.Accordingly, the Partnership will be at risk for the volatility in oil andnatural gas prices, and the level of commodity prices will have a significantimpact upon the partnership’s results of operations.

**We aresubject to substantial operating risks that may adversely affect the results ofoperations.**

There are numeroushazards involved in the drilling and operation of oil and natural gas wells,including blowouts involving possible damages to property and third parties,bodily injuries, mechanical failures, explosions, uncontrollable flows of oil,natural gas or well fluids, fires, formations with abnormal pressure,pollution, releases of toxic gas and other environmental hazards and risks. ThePartnership could suffer substantial losses as a result of any of these risks.The Partnership is not fully insured against all risks inherent to the oil andgas business. Uninsured liabilities would reduce the funds available to thePartnership, may result in the loss of Partnership properties and may createliability for the general partners. Although the Partnership maintainsinsurance coverage in amounts Reef deems appropriate, it is possible thatinsurance coverage may be insufficient. In that case Partnership assets mayhave to be sold to pay personal injury and property claims and the cost ofcontrolling blowouts or replacing damaged equipment rather than for drillingactivities.

13

----

**We cannotcontrol activities on non-operated properties.**

The Partnershipmay purchase minority non-operated working interests in some of the prospectsit acquires. As a result, the Partnership will have limited ability to exerciseinfluence over and control the risks associated with operations of theseproperties. The failure of an operator of our wells to adequately perform operations,an operator’s breach of the applicable agreements, or an operator’s failure toact in ways that are in our best interest could reduce our production and/orrevenues. The success and timing of drilling and development activities onproperties operated by others depends upon a number of factors outside of ourcontrol, including the operator’s

·                                          timingand amount of capital expenditures;

·                                          expertiseand financial resources;

·                                          inclusionof other participants in drilling wells; and

·                                          useof technology.

In addition, thePartnership could be held liable for the joint interest obligations of otherworking interest owners, such as nonpayment of costs and liabilities arisingfrom the actions of the other working interest owners. Full development ofprospects may be jeopardized in the event other working interest owners cannotpay their share of drilling and completion costs.

**Highdemand for drilling contractors, field services and equipment, and the abilityof suppliers to meet demand may limit our ability to drill and produce our oiland natural gas properties.**

Due to currentindustry demands, drilling contractors, well service providers and relatedequipment and personnel are in short supply. This is causing escalating prices,delays in drilling and other exploration activities, and the possibility ofpoor service coupled with potential damage to downhole reservoirs and personnelinjuries. Such pressures will likely increase the actual cost of services,extend the time to secure such services, and add costs for damages due to anyaccidents sustained from overuse of equipment and inexperienced personnel.

**We facestrong competition from larger oil and natural gas companies.**

The oil and gasindustry is highly competitive. Competition is encountered in all aspects ofPartnership operations, including the acquisition of prospects for drilling andrequisition of drilling and service contractors. Many of our competitors arelarger, well-established companies with substantially larger operating staffsand greater capital resources than those of the Partnership, Reef and itsaffiliates. We may not be able to conduct our operations successfully, evaluateand select suitable prospects, obtain drilling and service contractors,consummate transactions, or obtain technical, managerial and other professionalpersonnel in this highly competitive environment. Specifically, largercompetitors may be able to pay more for prospects and competent personnel thanthe Partnership, Reef and its affiliates. In addition, such competitors may beable to expend greater resources on the existing and changing technologies thatwill be increasingly important to success. Such competitors may also be in abetter position to secure drilling and oilfield services, as well as equipment,more timely or on more favorable terms.

**Oil andnatural gas reserve data are estimates based upon assumptions that may beinaccurate and existing economic and operating conditions that may differ fromfuture economic and operating conditions.**

Upon thesuccessful drilling of Partnership oil and gas wells, SEC rules will requirethe Partnership to present annual estimates of reserves. Reservoir engineeringis a subjective and inexact process of estimating underground accumulations ofoil and natural gas that cannot be measured in an exact manner, and is basedupon assumptions that may vary considerably from actual results. Accordingly,reserve estimates may be subject to upward or downward adjustments. Actualproduction, revenues and expenditures with respect to reserves will likely varyfrom estimates, and such variances could be material.

**If thePartnership acquires prospects outside the United States, it will be subject tocertain risks of international operations.**

14

----

To date thePartnership has not purchased any foreign prospects, and currently has no plansto acquire prospects outside of the United States. If the Partnership were toacquire prospects outside of the United States, it would be subject to risksgenerally associated with conducting business in foreign countries, such as:

·              foreignlaws and regulations that may be materially different from those of the UnitedStates;

·              changesin applicable laws and regulations;

·              challengesto or failure of title;

·              laborand political unrest;

·              foreigncurrency fluctuation;

·              changesin foreign economic and political conditions;

·              exportand import restrictions;

·              tariffs,customs, duties and other trade barriers;

·              difficultiesin staffing and managing foreign operations;

·              longertime periods in collecting revenues;

·              difficultiesin collecting accounts receivable and enforcing agreements;

·              possibleloss of properties due to nationalization or expropriation; and

·              limitations on repatriation ofincome or capital.

In addition, inthe event of a dispute, the Partnership may be subject to the exclusivejurisdiction of foreign courts and agencies, or may not be successful inobtaining jurisdiction over foreign persons in state or federal courts in theUnited States. The Partnership also may be hindered or prevented from enforcingits rights against foreign governments and their agencies because internationallaw may grant foreign governments and their agencies immunity from our courtsor prohibit the Partnership from bringing suit in their courts.

**Reef andits affiliates have sponsored ventures in the past that have produced dry holesand abandoned wells.**

Reef Global EnergyVentures II is the second public drilling program sponsored by Reef as themanaging general partner, and Reef Global Energy IX, L.P. is the fourth in aseries of four limited partnerships offered under that Program. Reef and itsaffiliate, RELP, have sponsored 63 ventures from 1996 to the present. Amongthese ventures, (i) eight were dedicated almost exclusively to the purchase ofinterests in already producing reserves, (ii) one was dedicated primarily tothe purchase of interests in already producing reserves but has the ability touse up to 20% of capital raised for development purposes, and (iii) two werededicated to both the purchase of interests in producing wells and the use ofup to 50% of capital raised for development of proven reserves.  We refer to the programs described in clauses(i) and (ii) of the preceding sentence as “income fund” ventures and to theprograms described in (iii) as “income and development fund” ventures. We havealso sponsored 52 drilling ventures since 1996. Together, these ventures havedrilled 116 wells (102 by drilling ventures and 14 by income fund and incomeand development fund ventures). Of the wells drilled by Reef and its affiliates’ventures, 50 were exploratory wells and 66 were developmental wells. Forty-sixof the wells drilled were dry holes, and 4 wells were completed but werenon-commercial. Of the 66 wells that were commercial, 49 are still owned byReef or its affiliates’ ventures and are currently producing, 10 have beenplugged and abandoned, 6 have been sold and 1 is currently shut-in. Using thisdata, approximately 56.9% of the wells drilled by these ventures were completedas commercially producing and 43.1% were dry holes (including the four wellsthat were completed but failed to become commercial producers). Approximately8.6% of the wells drilled by our ventures were subsequently abandoned.

**ThePartnership has limited external sources of funds, which could result in ashortage of working capital.**

 The Partnership intends to utilizesubstantially all available capital for the drilling and completion of wellsand acquisition of prospects. The Partnership only has nominal funds availablefor partnership purposes until there are revenues from Partnershipoperations.  The Partnership Agreementpermits the Partnership to borrow money only after drilling has been completedand all additional general partnership interests have been converted intolimited partnership interests.  Anyfuture requirement for additional funding will have to come, if at all, fromthe Partnership’s revenues or from borrowings. Reef cannot assure the partnersthat Partnership operations will be sufficient to provide the Partnership withnecessary additional funding.  Reef isprohibited under the Partnership Agreement from loaning money to thePartnership, and Reef cannot assure the partners that the Partnership will beable to borrow funds from third parties on commercially reasonable terms or atall.

15

----

**Otherpartnerships Reef sponsors will compete with the Partnership for prospects,equipment, contractors, and personnel.**

Reef plans tooffer interests in other partnerships to be formed for substantially the samepurposes as those of the Partnership. Therefore, a number of partnerships withunexpended capital funds, including those partnerships to be formed in futureoil and gas programs sponsored by Reef, may exist at the same time.  Due to competition among the partnerships forsuitable prospects and availability of equipment, contractors, and Reef’spersonnel, the fact that partnerships previously organized by Reef and itsaffiliates may still be purchasing prospects when the Partnership is attemptingto purchase prospects may make the completion of prospect acquisitionactivities by the Partnership more difficult.

**ThePartnership Agreement limits Reef’s liability to each partner and thePartnership and requires the Partnership to indemnify Reef against certainlosses.**

Reef will have noliability to the Partnership or to any partner for any loss suffered by thePartnership, and will be indemnified by the Partnership against loss sustainedby it in connection with the Partnership if:

·              Reefdetermines in good faith that its action was in the best interest of thePartnership;

·              Reefwas acting on behalf of or performing services for the Partnership; and

·              Reef’s actions did not constitutenegligence or misconduct.

**Drillingexploratory wells is riskier than drilling developmental wells.**

Manyof the wells drilled by Reef and its affiliates since 1996 have beenexploratory wells. Drilling exploratory wells involves greater risks of dryholes and loss of the partners’ investment than the drilling of developmentalwells.  Drilling developmental wellsgenerally involves less risk of dry holes, although sometimes developmentalacreage is more expensive and subject to greater royalties and other burdens onproduction. To date, the Partnership has not purchased any exploratoryprospects with available capital.

**ThePartnership may be required to pay delay rentals to hold properties, which maydeplete Partnership capital.**

Oil and gas leasesgenerally require that the property must be drilled upon by a certain date oradditional funds known as delay rentals must be paid to keep the lease ineffect.  Delay rentals typically must bepaid within a year of the entry into the lease if no production or drillingactivity has commenced.  If delay rentalsbecome due on any property the Partnership acquires, the Partnership will haveto pay its share of such delay rentals or lose its lease on the property.  These delay rentals could equal or exceed thecost of the property.  Further, paymentof these delay rentals could seriously deplete the Partnership’s capitalavailable to fund drilling activities when they do commence.

**ThePartnership may incur liability for liens against its subcontractors.**

Although Reef willtry to determine the financial condition of nonaffiliated subcontractors, ifsubcontractors fail to timely pay for materials and services, the properties ofthe Partnership could be subject to materialmen’s and workmen’s liens.  In that event, the Partnership could incurexcess costs in discharging such liens.

**Shut-inwells and delays in production may adversely affect Partnership operations.**

Production fromwells drilled in areas remote from marketing facilities may be delayed untilsufficient reserves are established to justify construction of necessarypipelines and production facilities. In addition, production from wells may bereduced or delayed due to seasonal marketing demands. Wells drilled for thePartnership may have access to only one potential market. Local conditions,including closing businesses, conservation, shifting population, pipelinemaximum operating pressure constraints, and development of local oversupply ordeliverability problems could halt sales from Partnership wells.

16

----

**The production and producing life of Partnershipwells is uncertain.**

Production fromsuccessful Partnership wells will decline. It is not possible to predict thelife and production of any well. The actual lives could differ from thoseanticipated. Sufficient oil or natural gas may not be produced for a partner toreceive a profit or even to recover his initial investment. In addition,production from the Partnership’s oil and natural gas wells, if any, willdecline over time, and does not indicate any consistent level of futureproduction. This production decline may be rapid and irregular when compared toa well’s initial production.

**Extreme weather conditions may adversely affectdrilling operations and distributions.**

The Partnershipmay conduct drilling operations in the Gulf of Mexico region of Louisiana andTexas. This region is susceptible to extreme weather conditions, especiallythose associated with hurricanes. In the event of a hurricane and related stormactivity, such as windstorms, storm surges, floods and tornados, Partnershipoperations in the region may be adversely affected. The occurrence of ahurricane or other extreme weather may harm or delay the Partnership’s drillingoperations or distribution of revenues, if any.

**Ourdependence on third parties for the processing and transportation of oil andgas may adversely affect the Partnership’s revenues and, consequently, thedistribution of net cash flows to investor partners.  **

We rely on thirdparties to process and transport the oil and gas produced by the Partnership’ssuccessful wells. In the event a third party upon whom we rely is unable toprovide transportation or processing services, and another third party isunavailable to provide such services, the Partnership may have to temporarilyshut-in successful wells, and revenues to the Partnership and distributions toinvestor partners related to those wells may be delayed or reduced.

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

**Use of Proceeds**

In connection withthe Registration Statement filed on Form S-1 (No. 333-122935) and declaredeffective July 7, 2005, Reef filed a final prospectus for the Program and fileda prospectus supplement describing the Partnership on February 15, 2007. Atsuch time Reef commenced the offering of units in the Partnership. All sales ofPartnership units were made through the Program’s dealer manager, ReefSecurities, Inc., and a number of soliciting dealers. The offering period endedJuly 7, 2007.

As of June 30,2007, the Partnership had sold 345.101 units to investor partners, consistingof 50.580 units of limited partner interest and 294.521 units of additionalgeneral partner interest. Reef purchased 18.163 general partner units, equaling5.00% of the total Partnership units sold at June 30, 2007. Total offeringproceeds were $9,013,497. Reef will also contribute 1% of all leasehold,drilling, and completion costs as incurred.

All units exceptthose purchased by Reef paid a 15% management fee to Reef to pay for thePartnership organization and offering costs, including sales commissions. Thesecosts totaled $1,294,129, leaving capital contributions of $7,719,368 availablefor Partnership oil and gas operations. As of June 30, 2007, the Partnershiphad expended $1,600,000 on property acquisitions and $726 on general andadministrative expenses, including amounts in accounts payable at June 30,2007.

The Partnershipintends to utilize the remaining capital as of June 30, 2007, plus additionalcapital raised subsequent to June 30, 2007, for oil and gas activities during2007 and 2008.

**Item 3. Defaults Upon Senior Securities**

None

17

----

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

None

**Item 5.  Other Information**

None

**Item6.  Exhibits**
| ** ** | Exhibits   | ** ** | ** **                                                                                                                                          |
|------------|------------|------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| ** ** | ** ** | ** ** | ** **                                                                                                                                          |
|       | 31.1       |       | Certification of Chief Executive Officer required by  Rule 13a-14(a)/15d-14(a) pursuant to Section 302 of the Sarbanes-Oxley Act of  2002.          |
|       |       |       |                                                                                                                                                |
|       | 31.2       |       | Certification of Chief Financial Officer required by  Rule 13a-14(a)/15d-14(a) pursuant to Section 302 of the Sarbanes-Oxley Act of  2002.          |
|       |       |       |                                                                                                                                                |
|       | 32.1       |       | Certification of Chief Executive Officer pursuant to  18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002. |
|       |       |       |                                                                                                                                                |
|       | 32.2       |       | Certification of Chief Financial Officer pursuant to  18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002. |

 

18

----

**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 thereunto dulyauthorized.
|            |            | REEF GLOBAL ENERGY IX, L.P.                    |
|------------|-----------------|------------------------------------------------|
|       |            |                                           |
|       | By:             | Reef Oil & Gas Partners, L.P.              |
|       |            | Managing General Partner                       |
|       |            |                                           |
|       | By:             | Reef Oil & Gas Partners, GP, LLC           |
|       |            |                                           |
| Dated:     | August 20, 2007 | By:                                            | /s/ Michael J. Mauceli |   |
| ** ** |            | **Michael J. Mauceli**                         |
| ** ** | ** **      | Manager and Member                             |
| ** ** |            | *(principal executive officer)*                |
|       |            | * *                                       |
| Dated:     | August 20, 2007 | By:                                            | /s/ Daniel C. Sibley |   |
| ** ** | ** **      | **Daniel C. Sibley**                           |
|       |            | Chief Financial Officer                        |
|       |            | *(principal financial and accounting officer)* |

 

----