Keyser Partnership
Minutes from meeting of partners on July 3, 2016
(modified: July 5, 2016)

Meeting called to order at 2:00pm. Present were all the partners: Carolyn, Julie, Edward, Laura and Ann

• Report from Edward, managing partner,
• Any questions?
• In June, mom closed Midland partnership checking account. All checks and info either coming to Edward or being forwarded to Edward.
• Last year, 2015 revenue was $8,000+ / month. Fire at gas plant means well off-line so revenue for 2016 is $800 / month
• We just sold our last working interest property reducing a potentially big money liability.
• Edward is doing the bookkeeping now in Quickbooks. Our books checked and taxes done by accountant in Odessa, Amanda Herr.
  (Edward deals mostly with Zack by email)
• Motion to keep, not accept offers to sell, all our other properties – passed
• Motion to pay managing partner 10% of gross revenue (deposits) – passed
• Meeting adjourned

All motions effectively motioned by Julie and seconded by Carolyn and passed unanimously.