Keyser Partnership
Minutes from meeting of partners on July 2, 2017
(modified: July 6, 2017)

Meeting called to order at 3:00pm. Present were all the partners: Carolyn, Julie, Edward, Laura and Ann

• Report from Edward, managing partner,
• Any questions?
• Income primarily from 2 wells the Harrier and the Bronco. Both wells operated by ConocoPhillips from whom we get our check. The income has been about $10,000 / month.
  The last two months there have been accounting adjustments and the checks were closer to $5,000.
• Disbursements: every time we get $30,000 in the checking account,
  $5000 distributed to each partner.
  We have $20,000 now so expect 2 more disbursements this year.
• Edward is doing the bookkeeping in Quickbooks. Our books checked and taxes done by accountant in Odessa, Amanda Herr. (Edward deals mostly with Zack by email)
• Edward will send Laura and Greg check skirts for their understanding on income tracking
• Edward will research transportation and marketing expenses to see if ours are in line
• We will not sell any properties.
  We receive multiple offers per month. Most are equal to 1 or 2 years income
   It's possible our old properties will be reopened and we could get substantial income
• Edward receives a manager bonus equal to 10% of the deposits for the month
  Manager's bonus and accounting are the only expenses.
• Meeting adjourned about 3:30.