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March 09 Newsletter

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March 09 Newsletter Powered By Docstoc
					            Petroleum Accountants Society of Houston
                      P.O. Box 3005                           PASHCOPAS.ORG                         Federal I.D. #
                      Houston, Texas 77253                                                          76-0673831




DATE:                               Thursday, March 19, 2009

TECHNICAL SESSION:                  Speaker:          Allen Cummings of the Law Offices of Allen D. Cummings

                                    Topic:            Oil & Gas Operations in an Urban Area

                                    Time:             4:30 – 5:20pm

SOCIAL PERIOD:                      5:30 - 6:30 p.m. - Social Hour

DINNER:                             Time:             6:30 p.m.

                                    Speaker:          Robert Bryce, Author/Journalist

                                    Topic:            "Gusher of Lies: The Dangerous Delusions of Energy
                                                      Independence”

ABOUT OUR SPEAKER – Robert Bryce has been writing about the energy business for nearly two decades. His
articles on energy and other subjects have appeared in numerous publications ranging from The Atlantic Monthly
to The Guardian and The Nation to The American Conservative. His first book, Pipe Dreams: Greed, Ego, and
the Death of Enron, was named one of the best non-fiction books of 2002 by Publishers Weekly. His latest book,
Gusher of Lies: The Dangerous Delusions of “Energy Independence,” was published in March by PublicAffairs. A
review of Gusher of Lies in the New York Times called Bryce “something of a visionary and perhaps even a
revolutionary.” He is the managing editor of Energy Tribune magazine and a contributing writer for The Texas
Observer. Bryce has appeared on numerous TV and radio programs ranging from the BBC and CNN to PBS and
NPR. An apiarist, he lives in Austin, with his wife, Lorin, their three children, and a hyperactive bird dog named
Biscuit.

PASH BOARD POSITIONS - It is that time of year to begin the search for candidates to fill the three Board
positions that will be open on June 1, 2009. To assure the continued growth and development of our society, we
need members who are willing to serve in leadership roles. Please consider stepping forward and making this
commitment. If you would like information regarding serving on the PASH Board, please contact Marjorie
Saibara, Chair of the Nominating Committee, at 713-215-7333 or by e-mail at marjorie_saibara@oxy.com. You
may also contact committee members Lary Sides at 832-603-1820 or larysides@chevron.com ; Kern Goss at
713-407-3205 or kgoss@uhy-us.com
                                                          DIRECTORS
                  2006-2009                                    2007-2010                            2008-2011
John Draemer - Vice President                  Janice Edmiston                     Henry Glover
   Citation Oil & Gas                             Devon Energy Corporation           ConocoPhillips Company
Don Rollins - Assistant Treasurer              David Joe - Treasurer               Wade Hopper - Secretary
   Enron Creditors Recovery Corp.                 Evolution Petroleum Corp.          Chevron USA, Inc.
Marjorie Saibara – Past President              Ilene Grygar                        Deb Retzloff - President
   OXY, Inc.                                      John H Young, Inc.                 Exxon Mobil Corporation
NEW VENUE BEGINNING IN SEPTEMBER 2009 - As mentioned in the December 2008 newsletter, a 10
person task force comprised of Board members, Past Presidents and interested members was formed to identify
meeting venue options for membership year 2009-2010. The PASH Board approved the Houston Club (911
Rusk Street, downtown) as our venue beginning in September 2009. A contract has been finalized and signed
by the PASH Executive Committee.         Additional details will be provided in a summer communication that will
provide notification of this change and specifics as to directions, parking options, etc.

I would like to thank the following members of the venue evaluation project team for their tireless efforts in
evaluating facilities encompassing the following areas of our diverse city - Greenspoint/Galleria, Energy Corridor
(West Houston), Downtown Houston:

John Draemer                          Janice Edmiston                   Ilene Grygar
Marcie Huckabee                       David Joe                         Helen Leeke
Don Rollins                           Marjorie Saibara                  Charline Townsend

I would particularly like to thank this year's Board for their willingness to make additional visits to the top two
venues which were determined based on individual project team member evaluations and for the numerous
meetings that were required to discuss the benefits and concerns regarding each of the venues and for their
support in arriving at a final decision. This was a difficult decision for the Board and one which we did not take
lightly, recognizing that change can sometimes be difficult to embrace.

We do request your cooperation in embracing the change in venue. The decision made was based on what
best accommodated our membership needs in terms of favorable economics, flexibility in meeting room space,
traffic flow between meeting sessions and an accessible location for our diverse membership.

APA EXAM - All APA testing is now computer-based testing and registration is done by contacting Comira at
their toll free number 800-947-4228. To find out the location of a test site, you can go to the
www.comiratesting.com website and follow the link "Candidate Center", then click on "Testing Centers", and
follow the prompts. Although some local companies offer testing at their sites, you must still register through
Comira. Registration is from 8 AM - 7 PM (Central Time) Monday through Friday and 10 AM - 2 PM on
Saturday.

DIRECTIONS TO HOUSTON CITY CLUB - The Houston City Club is situated on top of the three-level parking
facility between the Lakewood Church and the Coastal Towers. Access to visitor parking on City Club Drive is
available from Timmons or Edloe. Access to Timmons and Edloe is available from both Richmond and the
Southwest Freeway (Hwy 59) service road.

PARKING AT HOUSTON CITY CLUB - Houston City Club Parking costs will be: $4.00 (for < 2 hours), $8.00
(for > 2 hours, but less than 4 hours, $16.00 (for > 4 hours) After careful evaluation the Board has decided that
PASH will continue to cover the cost for parking related to scheduled PASH meetings at the Houston City Club.
We ask your diligence in keeping up with the number of hours you plan to attend. Carpooling may be a very
good option if feasible. Also, if your office is located nearby, you may want to consider leaving your car at the
office and taking a short walk to the meeting in order to help us manage our costs.

In an attempt to make traffic flow more efficient during the dinner check-in the following process will be effective:
parking tickets will be collected upon arrival and be available for pick-up (validated) after the committee
meetings if not staying for dinner. Signs will be posted and committee chairpersons conducting meetings will
make a reminder announcement during their meetings. Thanks for your cooperation in making this run a little
more smoothly.

DINNER RESERVATIONS - If you plan to have dinner at the monthly meeting, make your dinner reservations
utilizing the web at www.pashcopas.org or call the PASH Hotline at 713-526-6070 if you do not have access to
the net. You will be asked to leave your name, phone number and number of guests you are bringing to the
meeting for dinner. Please give the name of each guest so a name badge can be made. A guest fee of $45 will
be assessed for each guest reservation. Any member who makes a dinner reservation for a guest and does not
cancel the guest's reservation by the deadline or the guest does not show will be assessed a guest fee.
Members or guests who arrive for dinner without a reservation will be seated if space and prepared meals are
available. Anyone having questions concerning dinner reservations should contact the PASH Hotline 713-526-
6070 and leave a message. Reservations and cancellations must be made by 11:00 AM, Monday, March
16, 2009
DINNER ATTENDANCE - Members who have made reservations for themselves or a guest please check in at
the registration table with a member of the Hospitality Committee to get your dinner ticket.

WE WANT TO HEAR FROM YOU - If you have any questions, comments or suggestions for PASH, please call
the PASH Hotline at 713-526-6070 and leave a message. Your Board of Directors will respond to all feedback
during the coming months at our dinner meetings or in this newsletter.

PASHCOPAS.ORG WEBSITE – Please continue to use the PASH web site www.pashcopas.org for all the
latest information. The web site has been updated with the new Board members, Committee Chairs, and
meeting dates. The Job Line continues to be active, and is updated almost daily. Please contact our web master
David Edwards at dmedward@uno.edu if you find any broken links or have suggestions for improvements.


                                           COMMITTEE ACTIVITIES

To really benefit from your PASH membership, you must get involved with the committees and the special
events. Documents that affect you and your company are developed through our local and national committees,
and this is your opportunity to help in their development and to understand their impact. Leadership roles,
networking with your industry peers, and educational opportunities abound in the committees.
Don’t miss out.....make your membership count.

AUDIT - The Audit Committee met at the Houston City Club on February 19, 2009. Discussion Items included
Warehouse Expense and Joint Account Inventory followed by an Open Forum – Roundtable Discussion. Thanks
to Lary Sides for leading the discussion items.

The next Audit Committee meeting will be on Thursday, March 19, 2009 at the Houston City Club – Founders I
Room, Nine Greenway Plaza at 3:00 p.m. The agenda will include the Discussion Item - Catastrophe Costs
which will be led by Howard Blunk. More details will be included with the meeting notice.

If you have a Discussion Item which you would like to see placed on an upcoming Audit Committee meeting
agenda, please contact Jill Coble.

Anyone currently not receiving the Audit Committee meeting notice and agenda should contact Jill Coble at 832-
486-2597 or by email at Jill.E.Coble@ConocoPhillips.com. Also, anyone interested in obtaining more information
about the Audit Committee should contact Jill.
                                                                                                          th
ANNUAL PICNIC - The PASH Annual Picnic and Golf Tournament will be held on Monday, May 11 at the
Cypress Lakes Golf Course. The golf tournament will began at 10:00 a.m. and the barbeque dinner will be
served around 4:00 p.m. that afternoon. There will be no rain out date this year. In the event of inclement
weather, members are encouraged to come out to the club in the afternoon to enjoy the barbeque and regular
activities associated with the picnic (door prizes, director elections, etc.). Golf Team Registration forms are
attached to the back of this newsletter. Please complete and submit your registration as soon as possible.

The Picnic Planning Committee will meet at 4:30 p.m. on Thursday, March 19, 2009 at Justin’s Grill. Justin’s is
located in the basement of the Renaissance Hotel directly across Edloe Street from the Houston City Club. If
you have questions or need additional information, please contact Jill Goss at 713-289-2765 or by e-mail at
jgoss@hilcorp.com.

Without the generous support of our members, the picnic would not be the success that it is. If you or your
company are interested in contributing to the Picnic, either with cash or in-kind contributions please complete the
attached form and send it to the address indicated.

All forms can also be located on the PASH Web page.

EDUCATION - The Education Committee held a meeting on February 12, 2009 at Oxy’s office in Greenway
Plaza. The list of qualified local universities and colleges were determined and letters regarding the
scholarships, sponsorships and grants were mailed in February. The scholarship recipients will be recognized at
the April PASH dinner meeting.
The committee continued their work on the upcoming Education Day, see details below. We would like to thank
everyone that helped in providing speaker names and topics. Everyone’s participation is needed to make this
event a success.

Our next meeting will be on Thursday, March 26, 2009 at 3:30 pm in Oxy’s office located at 5 Greenway Plaza
to stuff envelopes for the Education Day registration brochure mailing. Please have your parking ticket validated
at Oxy’s main office located on the ground level. Please come and join us.
 nd
2 Annual Ethics Course
      nd
The 2 Annual Ethics Course was held on Wednesday morning, February 25, 2009.                The course had 30
attendees.
  th
20 Annual PASH Education Day
                                      th
Please mark your calendars for the 20 Annual PASH Education Day to be held on Wednesday, May 20, 2009
at the Hilton Americas-Houston. The net proceeds from this event is used to fund scholarships, grants and
sponsorships to local area colleges offering oil and gas accounting courses, providing resources for the APA,
and sponsoring other educational programs. The registration brochures will be mailed in late March and be
available online at www.PASHcopas.org. If you have any questions regarding Education Day, please contact
Angela_Force@OXY.com.

APA Study Group
Anyone interested in an APA Study Group should contact Charlene at Charlene_Lutkenhaus@oxy.com. The
Education Committee is working with the Young Professionals Committee in this endeavor.

FINANCIAL REPORTING/TAX – For information, please contact Lacie Kellogg, committee chair at 713-358-
6414.

INTERNATIONAL – Anyone interested in the activities of the International committee are encouraged to contact
Jim Davoli of Anadarko Petroleum Corporation at 832 636 2315 or by email at: jim.davoli@anadarko.com

JOINT INTEREST - PASH JI met on February 23 at 11:15 at the Guadalajara’s Hacienda and there were 14
persons representing 11 companies in attendance. The meeting included board reports from the PASH and
COPAS representatives. Also the Committee discussed the need for volunteers for the Employee Benefit (MFI-
27) and Chargeability of Incentive Compensation Plans (MFI-37) rewrites. We are still looking for up to two
volunteers for each team. The Committee also discussed the 24-Month Adjustment Period for Joint Account
Adjustments (MFI-40) and the impact of this document on joint account audits for our companies.

PASH JI will meet on March 19 at 3:00 pm at the Houston City Club. Your input is welcomed.

If you are interested in joining the PASH JI Committee or need further information, please contact Mike Fossen
Michael.Fossen@shell.com or 832-337-1412.

MIDSTREAM/DOWNSTREAM - Will be meeting with the Revenue Committee, please see information below.

PICTURE ROSTER – The PASH picture roster will be available for pickup at the March, 2009 meeting.

REVENUE - The PASH Revenue Committee will hold its monthly meeting on March 19, 2009 at the Houston City
Club beginning at 3:00 pm. Our meeting will include a discussion of the final draft of the COPAS AG-15. Fred
Watson, ExxonMobil Retired will be in attendance. Fred has taken on the tremendous task of coordinating the
revision of this important document. He is extremely knowledgeable on all subjects. The document update will
be voted on at the April COPAS Spring National Meeting.

Therefore, we will be voting on how our society vote should be cast at this meeting. Please read the final draft
before the meeting so that any questions can be addressed before our vote. Note, if you have several members
from a singular company, you will need to decide who of your group should have the singular vote per company.
If you need another copy of the final draft, please send an email request to jhibbing@tmrx.com.

We are very glad to welcome the Midstream/Downstream Committee members who are joining us again this
year. The inclusion of these committee members has been beneficial to many of our discussions over the past
year as so many issues impact both committees.
The Revenue Committee meetings include monthly updates of regulatory and emerging issues as necessary.
We certainly welcome your attendance and participation. Guests are encouraged and are not required to be
members of PASH to attend our committee meetings.

SMALL COMPANIES – The SCC met on February 24. 17 attendees got treated to a very informative
presentation by Steve Wolhart, Pinnacle Technologies, who presented Technology Applications in
Unconventional Gas Plays. The SCC's March meeting is still being finalized. The April meeting will be held on
April 15 at the Guadalajara restaurant on I-10 at Bunker Hill at 11:30am. The Speaker will be Paul Murphy, CEO,
Amegy Bank. The lunch fee is $18/PASH Members and $21/Non PASH Members. If you are interested in
getting on the Small Company email list, please contact Mary Murphy, Vice Chair at MMurphy@lng2.com or Don
McCormack, Chair at don@redoakcap.com

YOUNG PROFESSIONALS – For more information about The Petroleum Accountants Society of Houston or the
Young Professionals Committee visit www.PASHCOPAS.org/young.html, or contact Chair Michael Simpson –
MJSimpson@EPCO.com.

MONTHLY NEWSLETTER DELIVERY: If you would like to receive the monthly newsletter via e-mail, please
send your e-mail address to gene.broadway@sap.com.

WE WELCOME THE FOLLOWING NEW MEMBERS:

        NAME                          COMPANY
Brandon L. Brown         Hein & Associates, LLP
Kelly A. Clark           Playa Oil & Gas LP                        NEW MEMBERS – Please let us know
Tony Gray                BHP Billiton Petroleum                    that you are a new member when you
Allan Kirk               Research Tax Consultants                  check in for dinner. We want to be able
Fay Lascelle             Lime Rock Resources                       to welcome you and show you around.
Peter Nelson             Plains Pipeline, LP
Christopher Odom         El Paso Corporation
Brendan Osborne          Swift Energy Company
Dawn Suggs               Shell Explor. & Prod. Co.
Harry Wilson             BHP Billiton
                         COPAS Spring 2009 Conference - Anchorage, Alaska

                       Reference the COPAS Website (www.copas.org) for the latest information on the COPAS
                       Spring 2009 conference in Anchorage, Alaska. Avoid a late fee and register BEFORE March
                       23, 2009.

A brief summary of the agenda:
Emerging Issues Sub-committee                                 Wednesday, April 22nd a.m.
Financial Reporting Committee                                 Wednesday, April 22nd, a.m.
Tax Committee                                                 Wednesday, April 22nd, a.m.
Revenue Committee                                             Wednesday, April 22nd, afternoon
Audit Committee                                               Thursday, April 23rd, a.m.
Education Committee                                           Thursday, April 23rd, a.m.
Joint Interest Committee                                      Thursday, April 23rd, a.m.
Revenue Committee                                             Thursday, April 23rd, a.m.
Midstream/Downstream Committee                                Thursday, April 23rd, afternoon
Small Oil & Gas Companies Committee                           Thursday, April 23rd, afternoon
General Council Meeting                                       Friday, April 24th, a.m.

PASH T-shirts - Second Order Opportunity

If you forgot to submit payment for a T-shirt (orders were based on payment received) or after seeing a T-shirt at the
November 20th luncheon are now interested in purchasing a PASH community T-shirt, please send an email to Deb
Retzloff (debra.n.retzloff@exxonmobil.com) expressing your interest. Since a minimum order of 20 is required there
will need to be an evaluation of interest made before a second order will be considered - DO NOT SEND PAYMENT
YET. If you express interest, you will be advised in mid February whether another order will be made and where to
send payment. This will be your last opportunity to order a T-shirt during this membership year (only 5 orders toward
the total of 20 has been received to date).


If you would like to purchase a PASH T-shirt, please provide the information below. Advance orders are required. If
we meet our minimum order needs of 20 you will be advised of when & where to make payment. For your planning
purposes the cost is $15, for sizes S – XL; $16.25 for sixes 2XL & 3XL. Make checks payable to PASH.

Please PRINT the following information:

   Name:           _________________________

   Email:          _________________________

   Phone #:        _________________________

   Size (Quantity): _______________________ (Example: S (1); M (1))

Shirt design: Shirt color will be royal blue with white lettering
Front - Left chest (PASH Logo):




                                                                         Petroleum
                                                                         Accountants
                                                               Sharing
                                                                         Helping


                                 Back (centered):
                          DONATION FORM FOR MAY 11, 2009 PASH PICNIC
                                 CYPRESS LAKES GOLF CLUB

The PASH Annual Picnic will be held this year on May 11, 2009 at the Cypress Lakes Golf Club. THIS IS THE
SAME LOCATION AS LAST YEAR. Without the generous support of our members, the picnic would not be the
success that it is. If your Company or you are interested in contributing to the Picnic, either with cash or in-kind
contributions, please complete the form below and send it in to the address indicated.

All donors will be recognized in the PASH Monthly Newsletter, and with applicable signs at the Picnic, based on their
level of contributions, as follows:

                                           Platinum         $500 and above
                                            Gold             $250 to $499
                                            Silver           $100 to $249
                                             Bronze            $1 to $99


Our company would like to make a cash donation in the amount of ____________.


IF MAKING A CASH CONTRIBUTION, PLEASE INCLUDE YOUR CHECK WITH THIS FORM.


(Examples of “In-Kind” contributions would be golf balls, tees, divot repair tools, koozies, pens, ball marks, shirts,
towels, gift certificates, etc.)

Name of individual or company to be recognized: _______________________________

Mailing Address:        __________________________
                        __________________________
Daytime Phone No.:      __________________________
E-mail Address:         __________________________


If you would like your contribution to be designated for a particular event, please specify below:




Please complete this form and return by April 25, 2009 to "PASH, P. O. Box 3005, Houston, TX 77253.



If you have any questions, contact Jill Goss at 713-289-2765 or E-mail at jgoss@hilcorp.com.




NOTE: Contributions are not deductible as charitable contributions for income tax purposes but may be

deductible as ordinary business expenses, subject to IRS restrictions.
PASH/GEORGEANNA SOCKWELL MEMORIAL GOLF TOURNAMENT
                                             MONDAY – MAY 11, 2009
                                           CYPRESS LAKES GOLF CLUB
                                            GOLF REGISTRATION FORM


Please complete and return by May 4, 2009 to:

        Gene Campbell
        Hilcorp Energy Company
        1201 Louisiana, Suite 1400
        Houston, TX 77002
        (713) 289-2678 or (713) 209-2400
        gcampbell@hilcorp.com

We will be utilizing one course this year; therefore, there will be one shotgun start at 10:00 a.m.
Participation in the golf tournament will be limited to the first thirty-six (36) teams registered and paid.

List the foursome (or part thereof) you are registering. Every team must have at least one (1) PASH member.
(PLEASE INDICATE TEAM CAPTAIN & E-MAIL).

                                    HDCP/
                                     AVG          PHONE                    TEAM
     NAME                           SCORE        NUMBER        GUEST      CAPTAIN               E-MAIL

1.___________________________ _________ _____________ ______ __________ ___________________________

2.___________________________ _________ _____________ ______ __________ ___________________________

3.___________________________ _________ _____________ ______ __________ ___________________________

4.___________________________ _________ _____________ ______ __________ ___________________________

This year your registration for the tournament will confirm your reservation to dinner. Checks for golf fees of $20 per

person for members and $70 per person for guests (includes dinner fees) payable to PASH MUST be submitted

with this registration form.    Payment will not be accepted at the golf course, you will not receive an invoice for

dinner guests. Separate reservations are no longer required for the picnic dinner; if you are unable to attend

the dinner please contact the reservation hotline to cancel your reservation.



Please return your registration form by May 4, 2009. Entries will be given priority as received due to the large
number of entries expected and limited availability of holes. We have extended the registration deadline as far out as
we can to still meet our contractual obligations. Because of this, NO registrations or refunds will be accepted after
May 4, 2009.



                                                    ***NOTICE***
                        ***Registration for the Scramble Tournament will begin at 9:00 a.m.
                   If you have any questions, please contact Gene Campbell at the number above.
*Honesty is imperative for the Tournament to be successful. If you don’t have an established handicap, please give
                                               your normal score.

				
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