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 email@example.com. You may also contact committee members Lary Sides at 832-603-1820 or firstname.lastname@example.org ; Kern Goss at 713-407-3205 or email@example.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 firstname.lastname@example.org 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 email@example.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: firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 (firstname.lastname@example.org) 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 email@example.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 firstname.lastname@example.org 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.