----

| Delaware                                       |   | 75-2332176               |
|------------------------------------------------|--------|--------------------------|
| (State      or other jurisdiction              |   | (I.R.S.      Employer    |
| of      incorporation or organization)         |   | Identification      No.) |
|                                           |   |                     |
| 6 Desta Drive, Suite 6500, Midland,      Texas |   | 79705                    |
| (Address      of principal executive office)   |   | (Zip      Code)          |

| Indicate      by check mark if the registrant is a well-known seasoned issuer, as      defined in Rule 405 of the Securities Act.                                                                                                                                                                                                                                                 |  ̈    Yes | x  No      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|------------|
|                                                                                                                                                                                                                                                                                                                                                                              |          |       |
| Indicate      by check mark if the registrant is not required to file reports pursuant      to Section 13 or Section 15(d) of the Act.                                                                                                                                                                                                                                            |  ̈    Yes | x  No      |
|                                                                                                                                                                                                                                                                                                                                                                              |          |       |
| Indicate      by check mark whether the registrant (1) has filed all reports required to      be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934      during the preceding 12 months (or for such shorter period that the      registrant was required to file such reports), and (2) has been subject to      such filing requirements for the past 90 days. | x    Yes      |  ̈  No |

| Indicate      by check mark if disclosure of delinquent filers pursuant to Item 405 of      Regulation S-K is not contained herein, and will not be contained, to the      best of registrant's knowledge, in definitive proxy or information      statements incorporated by reference in Part III of this Form 10-K or any      amendment to this Form 10-K.x |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Indicate      by check mark whether the registrant is a large accelerated filer, an      accelerated filer, or a non-accelerated filer.  See definition      of “accelerated filer and large accelerated filer” in Rule 12b-2 of the      Exchange Act. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Large      accelerated filer  ̈                                                                                                                                                                                                                                           |   | Accelerated      filer  ̈ |   | Non-accelerated      filer  x |   | Smaller      reporting company ̈ |   |

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

|  |
|--|

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Page   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Part      I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Business                                                                                                                                                     | 3      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      1A.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Risk      Factors                                                                                                                                            | 7      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      1B.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Unresolved Staff      Comments                                                                                                                               | 8      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Properties                                                                                                                                                   | 9      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      3.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Legal      Proceedings                                                                                                                                       | 10     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      4.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Submission of Matters to a Vote of Security      Holders                                                                                                     | 10     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Part      II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      5.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Market for Registrant's Common Equity,      Related                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Stockholder      Matters and Issuer Purchases of Equity Securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 11     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      6.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Selected Financial      Data                                                                                                                                 | 12     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      7.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Management's Discussion and Analysis of                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Financial      Condition and Results of      Operations                                                                                                                          | 13     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      7A.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Quantitative and Qualitative Disclosures About Market      Risk                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 15     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      8.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Financial Statements and Supplementary      Data                                                                                                             | 16     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      9.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Changes in and Disagreements with      Accountants                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | on Accounting      and Financial      Disclosure                                                                                                                                 | 29     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      9A.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Controls and      Procedures                                                                                                                                 | 29     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      9B.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Other      Information                                                                                                                                       | 30     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Part      III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      10.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Directors, Executive Officers and Corporate      Governance                                                                                                  | 31     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      11.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Executive      Compensation                                                                                                                                  | 31     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      12.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Security Ownership of Certain Beneficial Owners and      Management and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Related      Stockholder      Matters                                                                                                                                            | 32     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      13.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Certain Relationships and Related Transactions, and      Director Independence                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 32     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      14.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Principal Accounting Fees and      Services                                                                                                                  | 32     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Part      IV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Item      15.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Exhibits and Financial Statement      Schedules                                                                                                              | 33     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Glossary of Oil and Gas      Terms                                                                                                                   | 34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Signatures                                                                                                                                           | 36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |

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|                                    |   | Proved      Developed |    |   | Proved       |   |   | Total       |   |
|-----------------------------------------|--------|-----------------------|---------|--------|--------------|--------|--------|-------------|--------|
|                                    |   | Producing             |    |   | Nonproducing |   |   | Undeveloped |   |   | Proved |   |
| Oil      (Bbls)                         |   |                  | 67,000  |   |         |   | -      |        |   |   | 19,000 |   |   |   | 86,000 |   |
| Gas      (Mcf)                          |   |                  | 150,000 |   |         |   | -      |        |   |   | 98,000 |   |   |   | 248,000 |   |
| Total      (BOE)                        |   |                  | 92,000  |   |         |   | -      |        |   |   | 35,000 |   |   |   | 127,000 |   |
|                                    |   |                  |    |   |         |   |   |        |   |   |   |   |   |   |   |   |
| Standardized      measure of discounted |   |                  |    |   |         |   |   |        |   |   |   |   |   |   |   |   |
| future net cash      flows              |   |                  |    |   |         |   |   |        |   |   |   |   |   | $ | 1,201,000 |   |

|   |   | Proved      Reserves |   |   |   |   |
|--------|--------|----------------------|--------|--------|--------|--------|
|   |   |                 |   |   |   |   |   | Total      Oil |   |   | Percent      of |   |
|   |   | Oil                  |   |   | Gas    |   |   | Equivalent |   |   | Total      Oil |   |
|   |   | (Bbls)               |   |   | (Mcf)  |   |   | (BOE) |   |   | Equivalent |   |
| Vacuum |   |                 | 57,000 |   |   |   | 31,000 |   |   |   | 62,000 |   |   |   | 48.8 | % |
| Malaga |   |                 | 12,000 |   |   |   | 141,000 |   |   |   | 35,000 |   |   |   | 27.6 | % |
| Other  |   |                 | 17,000 |   |   |   | 76,000 |   |   |   | 30,000 |   |   |   | 23.6 | % |
| Total  |   |                 | 86,000 |   |   |   | 248,000 |   |   |   | 127,000 |   |   |   | 100.0 | % |

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Item

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| Item 5. | Market for      Registrant's Common Equity, Related Stockholder Matters and Issuer      Purchases of EquitySecurities |
|---------|-----------------------------------------------------------------------------------------------------------------------|

|                |   | Total      Number |   |   |               |   |
|---------------------|--------|-------------------|--------|--------|--------------------|--------|
|                |   | of      Units     |   |   | Average      Price |   |
| Period              |   | Purchased         |   |   | Paid      Per Unit |   |
| January      2008   |   |              | -      |   |               | $      | - |   |
| February      2008  |   |              | -      |   |               |   | - |   |
| March      2008     |   |              | 20.0   |   |               |   | 94.86 |   |
| April      2008     |   |              | -      |   |               |   | - |   |
| May      2008       |   |              | -      |   |               |   | - |   |
| June      2008      |   |              | 70.7   |   |               |   | 115.49 |   |
| July      2008      |   |              | -      |   |               |   | - |   |
| August      2008    |   |              | -      |   |               |   | - |   |
| September      2008 |   |              | 39.1   |   |               |   | 141.26 |   |
| October      2008   |   |              | -      |   |               |   | - |   |
| November      2008  |   |              | -      |   |               |   | - |   |
| December      2008  |   |              | 16.0   |   |               |   | 171.17 |   |
| TOTALS              |   |              | 145.8  |   |               | $      | 125.69 |   |

|  |
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Item

|                                      |   | Years      ended December 31, |      |
|-------------------------------------------|--------|-------------------------------|-----------|
|                                      |   | 2008                          |      |   | 2007 |   |   | 2006 |   |   | 2005 |   |   | 2004 |   |
| Revenues                                  |   | $                             | 1,346,111 |   |   | $ | 1,054,805 |   |   | $ | 1,040,125 |   |   | $ | 1,058,893 |   |   | $ | 801,189 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      from continuing               |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| operations                                |   |                          | 672,543   |   |   |   | 504,105 |   |   |   | 543,105 |   |   |   | 523,823 |   |   |   | 351,069 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Results      from discontinued operations |   |                          | -         |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (27,318 | ) |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                           |   |                          | 672,543   |   |   |   | 504,105 |   |   |   | 543,105 |   |   |   | 523,823 |   |   |   | 323,751 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Partners'      share of net income:       |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| General      partners                     |   |                          | 70,502    |   |   |   | 53,697 |   |   |   | 57,202 |   |   |   | 55,028 |   |   |   | 35,494 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Limited      partners                     |   |                          | 602,041   |   |   |   | 450,408 |   |   |   | 485,903 |   |   |   | 468,795 |   |   |   | 288,257 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Limited      partners' income             |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| per unit before      discontinued         |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| operations                                |   |                          | 55.29     |   |   |   | 41.36 |   |   |   | 44.62 |   |   |   | 43.05 |   |   |   | 28.73 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Discontinued      operations per          |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| limited partner      unit                 |   |                          | -         |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2.26 | ) |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Limited      partners’              |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| net income per    unit                    |   |                          | 55.29     |   |   |   | 41.36 |   |   |   | 44.62 |   |   |   | 43.05 |   |   |   | 26.47 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Limited      partners'                    |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| cash distributions per      unit          |   |                          | 67.22     |   |   |   | 38.95 |   |   |   | 52.63 |   |   |   | 38.85 |   |   |   | 29.98 |   |
|                                      |   |                          |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      assets                         |   | $                             | 539,804   |   |   | $ | 678,373 |   |   | $ | 619,464 |   |   | $ | 589,341 |   |   | $ | 506,878 |   |

|  |
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| Item 7. | Management's      Discussion and Analysis of Financial Condition and Results of      Operations |
|---------|-------------------------------------------------------------------------------------------------|

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|                                           |   | Year      Ended December 31, |    |
|------------------------------------------------|--------|------------------------------|---------|
|                                           |   | 2008                         |    |   | 2007 |   |   | 2006 |   |
| Oil      production in barrels                 |   |                         | 10,022  |   |   |   | 10,718 |   |   |   | 12,138 |   |
| Gas      production in mcf                     |   |                         | 31,501  |   |   |   | 39,715 |   |   |   | 40,609 |   |
| Total      (BOE)                               |   |                         | 15,272  |   |   |   | 17,337 |   |   |   | 18,906 |   |
| Average      price per barrel of oil           |   | $                            | 103.85  |   |   | $ | 71.50 |   |   | $ | 63.94 |   |
| Average      price per mcf of gas              |   | $                            | 9.65    |   |   | $ | 7.22 |   |   | $ | 6.36 |   |
| Partnership      distributions                 |   | $                            | 813,179 |   |   | $ | 471,542 |   |   | $ | 636,698 |   |
| Limited      partner distributions             |   | $                            | 731,961 |   |   | $ | 424,149 |   |   | $ | 573,104 |   |
| Per      unit distribution to limited partners |   | $                            | 67.22   |   |   | $ | 38.95 |   |   | $ | 52.63 |   |
| Number      of limited partner units           |   |                         | 10,889  |   |   |   | 10,889 |   |   |   | 10,889 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Page   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
| Report of Independent Registered Public Accounting      Firm                                                                                                    |   | 17     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |
| Balance      Sheets                                                                                                                                             |   | 18     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |
| Statements of      Operations                                                                                                                                   |   | 19     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |
| Statements of Changes in Partners'      Equity                                                                                                                  |   | 20     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |
| Statements of Cash      Flows                                                                                                                                   |   | 21     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |
| Notes to Financial      Statements                                                                                                                              |   | 22     |

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REPORT 

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Oil 

|                                          |   | December      31, |      |
|-----------------------------------------------|--------|-------------------|-----------|
|                                          |   | 2008              |      |   | 2007 |   |
| Assets                                        |   |              |      |   |   |   |
|                                          |   |              |      |   |   |   |
| Current      assets:                          |   |              |      |   |   |   |
| Cash and cash      equivalents                |   | $                 | 66,832    |   |   | $ | 47,416 |   |
| Receivable from Managing General      Partner |   |              | 8,370     |   |   |   | 121,014 |   |
| New Mexico income tax      deposit            |   |              | 53,107    |   |   |   | 66,171 |   |
| Total current      assets                     |   |              | 128,309   |   |   |   | 234,601 |   |
|                                          |   |              |      |   |   |   |   |   |
| Oil      and gas properties - using the full- |   |              |      |   |   |   |   |   |
| cost method of      accounting                |   |              | 4,308,340 |   |   |   | 4,308,138 |   |
| Less accumulated      depreciation,           |   |              |      |   |   |   |   |   |
| depletion and      amortization               |   |              | 3,896,845 |   |   |   | 3,864,366 |   |
| Net oil and gas      properties               |   |              | 411,495   |   |   |   | 443,772 |   |
|                                          |   |              |      |   |   |   |   |   |
|                                          |   | $                 | 539,804   |   |   | $ | 678,373 |   |
|                                          |   |              |      |   |   |   |   |   |
| Liabilities and Partners'      Equity         |   |              |      |   |   |   |   |   |
|                                          |   |              |      |   |   |   |   |   |
| Asset      retirement obligation              |   | $                 | 324,668   |   |   | $ | 322,601 |   |
|                                          |   |              |      |   |   |   |   |   |
| Partners'      equity:                        |   |              |      |   |   |   |   |   |
| General partners                              |   |              | 17,540    |   |   |   | 28,256 |   |
| Limited partners                              |   |              | 197,596   |   |   |   | 327,516 |   |
| Total partners'      equity                   |   |              | 215,136   |   |   |   | 355,772 |   |
|                                          |   |              |      |   |   |   |   |   |
|                                          |   | $                 | 539,804   |   |   | $ | 678,373 |   |

|  |
|--|

----

Oil 

|                                          |   | Years      ended December 31, |      |
|-----------------------------------------------|--------|-------------------------------|-----------|
|                                          |   | 2008                          |      |   | 2007 |   |   | 2006 |   |
| Revenues                                      |   |                          |      |   |   |   |   |   |   |
| Oil and gas    income                         |   | $                             | 1,344,811 |   |   | $ | 1,053,193 |   |   | $ | 1,034,627 |   |
| Interest income                               |   |                          | 1,286     |   |   |   | 1,612 |   |   |   | 2,042 |   |
| Other income                                  |   |                          | 14        |   |   |   | - |   |   |   | 3,456 |   |
|                                          |   |                          | 1,346,111 |   |   |   | 1,054,805 |   |   |   | 1,040,125 |   |
|                                          |   |                          |      |   |   |   |   |   |   |   |   |   |
| Expenses                                      |   |                          |      |   |   |   |   |   |   |   |   |   |
| Production                                    |   |                          | 521,531   |   |   |   | 393,775 |   |   |   | 359,863 |   |
| Depreciation, depletion and      amortization |   |                          | 32,479    |   |   |   | 32,865 |   |   |   | 28,911 |   |
| Accretionexpense                              |   |                          | 20,912    |   |   |   | 27,737 |   |   |   | 14,926 |   |
| General and      administrative               |   |                          | 98,646    |   |   |   | 96,323 |   |   |   | 93,320 |   |
|                                          |   |                          | 673,568   |   |   |   | 550,700 |   |   |   | 497,020 |   |
|                                          |   |                          |      |   |   |   |   |   |   |   |   |   |
| Net      income                               |   | $                             | 672,543   |   |   | $ | 504,105 |   |   | $ | 543,105 |   |
|                                          |   |                          |      |   |   |   |   |   |   |   |   |   |
| Net      income allocated to:                 |   |                          |      |   |   |   |   |   |   |   |   |   |
| Managing General      Partner                 |   | $                             | 63,452    |   |   | $ | 48,327 |   |   | $ | 51,482 |   |
|                                          |   |                          |      |   |   |   |   |   |   |   |   |   |
| General Partner                               |   | $                             | 7,050     |   |   | $ | 5,370 |   |   | $ | 5,720 |   |
|                                          |   |                          |      |   |   |   |   |   |   |   |   |   |
| Limited partners                              |   | $                             | 602,041   |   |   | $ | 450,408 |   |   | $ | 485,903 |   |
|                                          |   |                          |      |   |   |   |   |   |   |   |   |   |
| Per limited partner      unit                 |   | $                             | 55.29     |   |   | $ | 41.36 |   |   | $ | 44.62 |   |

|  |
|--|

----

Southwest 

|                              |   | General  |    |   | Limited  |   |     |   |   |
|-----------------------------------|--------|----------|---------|--------|----------|--------|----------|--------|--------|
|                              |   | Partners |    |   | Partners |   |     | Total  |   |
| Balance      at December 31, 2005 |   | $        | 28,344  |   |     | $      | 388,458  |   |   | $ | 416,802 |   |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Net income                        |   |     | 57,202  |   |     |   | 485,903  |   |   |   | 543,105 |   |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Distributions                     |   |     | (63,594 | )      |     |   | (573,104 | )      |   |   | (636,698 | ) |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Balance      at December 31, 2006 |   |     | 21,952  |   |     |   | 301,257  |   |   |   | 323,209 |   |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Net income                        |   |     | 53,697  |   |     |   | 450,408  |   |   |   | 504,105 |   |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Distributions                     |   |     | (47,393 | )      |     |   | (424,149 | )      |   |   | (471,542 | ) |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Balance      at December 31, 2007 |   |     | 28,256  |   |     |   | 327,516  |   |   |   | 355,772 |   |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Net income                        |   |     | 70,502  |   |     |   | 602,041  |   |   |   | 672,543 |   |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Distributions                     |   |     | (81,218 | )      |     |   | (731,961 | )      |   |   | (813,179 | ) |
|                              |   |     |    |   |     |   |     |   |   |   |   |   |
| Balance      at December 31, 2008 |   | $        | 17,540  |   |     | $      | 197,596  |   |   | $ | 215,136 |   |

|  |
|--|

----

Southwest 

|                                                            |   | Years      ended December 31, |      |
|-----------------------------------------------------------------|--------|-------------------------------|-----------|
|                                                            |   | 2008                          |      |   | 2007 |   |   | 2006 |   |
| Cash      flows from operating activities:                      |   |                          |      |   |   |   |   |   |   |
| Cash received from oil and gas      sales                       |   | $                             | 1,470,519 |   |   | $ | 1,001,215 |   |   | $ | 1,025,879 |   |
| Cash paid for production      expense, administrative           |   |                          |      |   |   |   |   |   |   |   |   |   |
| fees and general and      administrative overhead               |   |                          | (632,728  | ) |   |   | (491,580 | ) |   |   | (453,439 | ) |
| Interestreceived                                                |   |                          | 1,286     |   |   |   | 1,612 |   |   |   | 2,042 |   |
| Other income                                                    |   |                          | 14        |   |   |   | 3,456 |   |   |   | - |   |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Net cash provided by operating      activities                  |   |                          | 839,091   |   |   |   | 514,703 |   |   |   | 574,482 |   |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Cash      flows used in investing activities:                   |   |                          |      |   |   |   |   |   |   |   |   |   |
| Additions to oil and gas      properties                        |   |                          | (6,496    | ) |   |   | (4,210 | ) |   |   | (2,269 | ) |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Cash      flows from financing activities:                      |   |                          |      |   |   |   |   |   |   |   |   |   |
| Distributions to      partners                                  |   |                          | (813,179  | ) |   |   | (471,542 | ) |   |   | (636,698 | ) |
| Decrease in distributions      payable                          |   |                          | -         |   |   |   | - |   |   |   | (481 | ) |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Net cash used in financing      activities                      |   |                          | (813,179  | ) |   |   | (471,542 | ) |   |   | (637,179 | ) |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Net      increase (decrease) in cash and cash equivalents       |   |                          | 19,416    |   |   |   | 38,951 |   |   |   | (64,966 | ) |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Beginning      of year                                          |   |                          | 47,416    |   |   |   | 8,465 |   |   |   | 73,431 |   |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| End      of year                                                |   | $                             | 66,832    |   |   | $ | 47,416 |   |   | $ | 8,465 |   |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Reconciliation      of net income to net                        |   |                          |      |   |   |   |   |   |   |   |   |   |
| cash provided by operating      activities:                     |   |                          |      |   |   |   |   |   |   |   |   |   |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Net      income                                                 |   | $                             | 672,543   |   |   | $ | 504,105 |   |   | $ | 543,105 |   |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Adjustments      to reconcile net income to                     |   |                          |      |   |   |   |   |   |   |   |   |   |
| net cash provided by operating      activities:                 |   |                          |      |   |   |   |   |   |   |   |   |   |
| Depreciation, depletion and      amortization                   |   |                          | 32,479    |   |   |   | 32,865 |   |   |   | 28,911 |   |
| Accretionexpense                                                |   |                          | 20,912    |   |   |   | 27,737 |   |   |   | 14,926 |   |
| Settlement of asset retirement      obligations                 |   |                          |      |   |   |   |   |   |   |   |   |   |
| for plugged and abandoned      wells                            |   |                          | (12,551   | ) |   |   | (1,482 | ) |   |   | (256 | ) |
| Decrease (increase) in      receivables and deposits            |   |                          | 125,708   |   |   |   | (48,522 | ) |   |   | (12,204 | ) |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Net      cash provided by operating activities                  |   | $                             | 839,091   |   |   | $ | 514,703 |   |   | $ | 574,482 |   |
|                                                            |   |                          |      |   |   |   |   |   |   |   |   |   |
| Noncash      investing and financing activities:                |   |                          |      |   |   |   |   |   |   |   |   |   |
| (Decrease) increase in oil and      gas properties  - |   |                          |      |   |   |   |   |   |   |   |   |   |
| SFAS No. 143                                                    |   | $                             | (6,294    | ) |   | $ | 91 |   |   | $ | 109,527 |   |

|  |
|--|

----

Oil 

| 1. | Organization |
|----|--------------|

|                                                                     | Limited  |   | General  |
|--------------------------------------------------------------------------|----------|--------|----------|
|                                                                     | Partners |   | Partners |
| Interest      income on capital contributions                            | 100%     |   | -        |
| Oil      and gas sales                                                   | 90%      |   | 10%      |
| All      other revenues                                                  | 90%      |   | 10%      |
| Organization      and offering costs (1)                                 | 100%     |   | -        |
| Amortization      or organization costs                                  | 100%     |   | -        |
| Property      acquisition costs                                          | 100%     |   | -        |
| Gain/loss      on property disposition                                   | 90%      |   | 10%      |
| Operating      and administrative costs (2)                              | 90%      |   | 10%      |
| Depreciation,      depletion, and amortization of oil and gas properties | 100%     |   | -        |
| All      other costs                                                     | 90%      |   | 10%      |

|   | (1) | All      organization costs in excess of 3% of initial capital contributions will      be paid by the Managing General Partner and will be treated as a capital      contribution.  The Partnership paid the Managing General Partner      an amount equal to 3% of initial capital contributions for such      organization costs. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Administrative      costs in any year, which exceed 2% of capital contributions shall be paid      by the Managing General Partner and will be treated as a capital      contribution. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Summary of Significant      Accounting Policies |
|----|-------------------------------------------------|

|  |
|--|

----

| 2. | Summary of Significant      Accounting Policies-continued |
|----|-----------------------------------------------------------|

|  |
|--|

----

| 2. | Summary of Significant      Accounting Policies-continued |
|----|-----------------------------------------------------------|

|                                                             |   | 2008   |    |   | 2007   |   |
|------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Beginning      of year                                           |   | $      | 322,601 |   |   | $      | 296,255 |   |
| Additional      abandonment obligations from new wells           |   |   | -       |   |   |   | 495 |   |
| Reduction      of obligations due to wells plugged and abandoned |   |   | (12,551 | )      |   |   | (1,482 | ) |
| Reduction      of obligations due to farm-outs                   |   |   | -       |   |   |   | (404 | ) |
| Accretion      expense                                           |   |   | 20,912  |   |   |   | 27,737 |   |
| Revisions      of previous estimates                             |   |   | (6,294  | )      |   |   | - |   |
| End      of year                                                 |   | $      | 324,668 |   |   | $      | 322,601 |   |

|  |
|--|

----

| 4. | Commitments and      Contingent Liabilities |
|----|---------------------------------------------|

| 5. | Related Party      Transactions |
|----|---------------------------------|

|  |
|--|

----

| 6. | Oil and Gas Reserves      Information (unaudited) |
|----|---------------------------------------------------|

|                                 |   | Oil      (bbls) |    |   | Gas      (mcf) |   |
|--------------------------------------|--------|-----------------|---------|--------|----------------|--------|
| Total      Proved -                  |   |            |    |   |           |   |
|                                 |   |            |    |   |           |   |
| January      1, 2006                 |   |            | 178,000 |   |           |   | 468,000 |   |
|                                 |   |            |    |   |           |   |   |   |
| Revisions of previous      estimates |   |            | (21,000 | )      |           |   | (121,000 | ) |
| Production                           |   |            | (12,000 | )      |           |   | (41,000 | ) |
|                                 |   |            |    |   |           |   |   |   |
| December      31, 2006               |   |            | 145,000 |   |           |   | 306,000 |   |
|                                 |   |            |    |   |           |   |   |   |
| Revisions of previous      estimates |   |            | 17,000  |   |           |   | 69,000 |   |
| Production                           |   |            | (11,000 | )      |           |   | (40,000 | ) |
|                                 |   |            |    |   |           |   |   |   |
| December      31, 2007               |   |            | 151,000 |   |           |   | 335,000 |   |
|                                 |   |            |    |   |           |   |   |   |
| Revisions of previous      estimates |   |            | (55,000 | )      |           |   | (55,000 | ) |
| Production                           |   |            | (10,000 | )      |           |   | (32,000 | ) |
|                                 |   |            |    |   |           |   |   |   |
| December      31, 2008               |   |            | 86,000  |   |           |   | 248,000 |   |
|                                 |   |            |    |   |           |   |   |   |
| Proved developed reserves      -     |   |            |    |   |           |   |   |   |
| December      31, 2006               |   |            | 118,000 |   |           |   | 199,000 |   |
| December      31, 2007               |   |            | 124,000 |   |           |   | 227,000 |   |
| December      31, 2008               |   |            | 67,000  |   |           |   | 150,000 |   |

|  |
|--|

----

| 6. | Oil and Gas Reserves      Information (unaudited) -continued |
|----|--------------------------------------------------------------|

|                                               |   | 2008   |      |   | 2007   |   |       | 2006   |   |
|----------------------------------------------------|--------|--------|-----------|--------|--------|--------|------------|--------|--------|
| Future      cash inflows                           |   | $      | 5,167,000 |   |   | $      | 15,907,000 |   |   | $ | 9,653,000 |   |
| Production,      development and abandonment costs |   |   | 3,190,000 |   |   |   | 5,897,000  |   |   |   | 4,218,000 |   |
| Future      net cash flows                         |   |   | 1,977,000 |   |   |   | 10,010,000 |   |   |   | 5,435,000 |   |
| 10%      annual discount for estimated             |   |   |      |   |   |   |       |   |   |   |   |   |
| timing of cash    flows                            |   |   | 776,000   |   |   |   | 4,587,000  |   |   |   | 2,327,000 |   |
| Standardized      measure of discounted            |   |   |      |   |   |   |       |   |   |   |   |   |
| future net cash      flows                         |   | $      | 1,201,000 |   |   | $      | 5,423,000  |   |   | $ | 3,108,000 |   |

|                                                        |   | 2008   |       |   | 2007   |   |      | 2006   |   |
|-------------------------------------------------------------|--------|--------|------------|--------|--------|--------|-----------|--------|--------|
| Sales      of oil and gas produced, net of production costs |   | $      | (824,000   | )      |   | $      | (659,000  | )      |   | $ | (675,000 | ) |
| Changes      in prices and production costs                 |   |   | (3,614,000 | )      |   |   | 2,102,000 |   |   |   | (1,554,000 | ) |
| Changes      of production rates (timing) and others        |   |   | 279,000    |   |   |   | (186,000  | )      |   |   | 591,000 |   |
| Revisions      of previous quantities estimates             |   |   | (605,000   | )      |   |   | 747,000   |   |   |   | (653,000 | ) |
| Accretion      of discount                                  |   |   | 542,000    |   |   |   | 311,000   |   |   |   | 491,000 |   |
| Discounted      future net cash flows -                     |   |   |       |   |   |   |      |   |   |   |   |   |
| Beginning      of year                                      |   |   | 5,423,000  |   |   |   | 3,108,000 |   |   |   | 4,908,000 |   |
| End      of year                                            |   | $      | 1,201,000  |   |   | $      | 5,423,000 |   |   | $ | 3,108,000 |   |

|  |
|--|

----

|                       |   | Quarter |    |
|----------------------------|--------|---------|---------|
|                       |   | First   |    |   | Second |   |   | Third |   |   | Fourth |   |
| 2008:                      |   |    |    |   |   |   |   |   |   |   |   |   |
| Total revenues             |   | $       | 359,422 |   |   | $ | 441,453 |   |   | $ | 431,676 |   |   | $ | 113,560 |   |
| Total expenses             |   |    | 138,586 |   |   |   | 181,512 |   |   |   | 180,685 |   |   |   | 172,785 |   |
| Net income (loss)          |   | $       | 220,836 |   |   | $ | 259,941 |   |   | $ | 250,991 |   |   | $ | (59,225 | ) |
|                       |   |    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)    per   |   |    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| limited partners      unit |   | $       | 18.18   |   |   | $ | 21.41 |   |   | $ | 20.66 |   |   | $ | (4.96 | ) |

|                                      |   | Quarter |    |
|-------------------------------------------|--------|---------|---------|
|                                      |   | First   |    |   | Second |   |   | Third |   |   | Fourth |   |
| 2007:                                     |   |    |    |   |   |   |   |   |   |   |   |   |
| Total revenues                            |   | $       | 226,007 |   |   | $ | 254,180 |   |   | $ | 297,411 |   |   | $ | 277,207 |   |
| Total expenses                            |   |    | 123,838 |   |   |   | 121,095 |   |   |   | 124,230 |   |   |   | 181,537 |   |
| Net income                                |   | $       | 102,169 |   |   | $ | 133,085 |   |   | $ | 173,181 |   |   | $ | 95,670 |   |
|                                      |   |    |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income per limited partners      unit |   | $       | 8.37    |   |   | $ | 10.92 |   |   | $ | 14.23 |   |   | $ | 7.84 |   |

|  |
|--|

----

Item

Item

|  |
|--|

----

Item

|  |
|--|

----

Item

Item

|  |
|--|

----

Item

Item

Item

| For      the Year Ended December 31, |   | 2008   |   |   | 2007   |   |
|--------------------------------------|--------|--------|--------|--------|--------|--------|
| Audit      Fees                      |   | $      | 18,030 |   |   | $      | 16,932 |   |
| Audit      Related Fees              |   |   | -      |   |   |   | - |   |
| Tax      Fees                        |   |   | -      |   |   |   | - |   |
| All      Other Fees                  |   |   | -      |   |   |   | - |   |
|                                 |   |   |   |   |   |   |   |   |
| TOTAL                                |   | $      | 18,030 |   |   | $      | 16,932 |   |

|  |
|--|

----

Item

| (a)    | (1)    | Financial      Statements:                                                                                                                                                                                          |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                |
|   |   | Included in Part II of this      report                                                                                                                                                                             |
|   |   |                                                                                                                                                                                                                |
|   |   | Report of Independent Registered      Public Accounting Firm                                                                                                                                                        |
|   |   | Balance Sheets                                                                                                                                                                                                      |
|   |   | Statements of      Operations                                                                                                                                                                                       |
|   |   | Statements of Changes in      Partners' Equity                                                                                                                                                                      |
|   |   | Statements of Cash      Flows                                                                                                                                                                                       |
|   |   | Notes to Financial      Statements                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                |
|   | (2)    | Schedules      required by Article 12 of Regulation S-X are either omitted because they      are not applicable or because the required information is shown in the      financial statements or the notes thereto. |
|   |   |                                                                                                                                                                                                                |
|   | (3)    | Exhibits:                                                                                                                                                                                                           |

| 4      | (a)    | Certificate      of Limited Partnership of Southwest Oil & Gas Income Fund X-B, L.P.,      dated November 27, 1990.  (Incorporated by reference from      Partnership's Form 10-K for the fiscal year ended December 31,      1990.) |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                               |
|   | (b)    | Agreement      of Limited Partnership of Southwest Oil & Gas Income Fund X-B, L.P.      dated November 27, 1990.  (Incorporated by reference from      Partnership's Form 10-K for the fiscal year ended December 31,      1991.)    |
|   |   |                                                                                                                                                                                                                                               |
|   | 31.1   | Rule      13a-14(a)/15d-14(a) Certification                                                                                                                                                                                                        |
|   | 31.2   | Rule      13a-14(a)/15d-14(a) Certification                                                                                                                                                                                                        |
|   | 32.1   | Certification      of Chief Executive Officer and Chief Financial Officer Pursuant to 18      U.S.C. Section 1350, as adopted Pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002                                                       |

|  |
|--|

----

Glossary

|   |
|--------|

----

|   |
|--------|

----

Signatures

|   | Southwest      Oil & Gas Income Fund X-B, L.P., |
|--------|-----------------------------------------------------|
|   | a Delaware      limited partnership            |
|   |                                                |
| By:    | Southwest      Royalties, Inc., Managing            |
|   | General      Partner                                |
|   |                                                |
|   |                                                |
| By:    | /s/      L. Paul Latham                             |
|   | L.      Paul Latham                                 |
|   | President      and Chief Executive Officer          |
|   |                                                |
| Date:  | March      27, 2009                                 |

|                                                                                       |   |                                                                                       |
|--------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------|
| /s/      Clayton W Williams                                                                |   | /s/      L. Paul Latham                                                                    |
| Clayton      W. Williams, Chairman of the Board                                            |   | L.      Paul Latham, President and a Director                                              |
| and      a Director                                                                        |   |                                                                                       |
|                                                                                       |   |                                                                                       |
| Date:           March      27, 2009 |   | Date:           March      27, 2009 |
|                                                                                       |   |                                                                                       |
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|                                                                                       |   |                                                                                       |
|                                                                                       |   |                                                                                       |
| /s/      Mel G. Riggs                                                                      |   |                                                                                       |
| Mel      G. Riggs, Vice President – Finance,                                         |   |                                                                                       |
| Treasurer      and a Director                                                              |   |                                                                                       |
|                                                                                       |   |                                                                                       |
| Date:           March      27, 2009 |   |                                                                                       |
|                                                                                       |   |                                                                                       |
|                                                                                       |   |                                                                                       |