NAPAC - The North American Petroleum Accounting Conference, scheduled each May in Dallas, Texas, brings industry leaders together for two days of intense sessions and lively, productive discussions. Each year, NAPAC features topical general sessions and detailed concurrent sessions, annual reviews of legislative updates, leading industry speakers from both the government and private sectors, and informative exhibits from leading industry vendors. This perennial favorite, considered by many to be the premiere oil and gas industry accounting conference, is now in its 32^nd year and it remains a highly regarded and well-attended event.

NAPAC 2008 is May 15-16 at the Westin Galleria in Dallas.

NAPAC Exhibit Package

NAPAC Schedule

Oil and gas tax laws can be challenging. Arming yourself with the facts is the smart way to handle the constant influx of information that this changing industry presents. The Oil and Gas Taxation Institute is a two-part information-packed program that explains tax laws and explores implications using case studies and thoroughly documented reference materials. Instructors lead you through difficult concepts and provide you with the tools necessary to conduct your own research.

Find out for yourself why this program is a must for industry professionals. The next tax institute will take place in December 2008.

Course facilitated by John Tripp.

The 10th National Oil and Gas Royalty Conference is scheduled October 6-7 at the Crowne Plaza in Dallas. This conference is recognized by the oil and gas industry, the legal profession, governmental agencies and the accounting profession as the best place to obtain information about rules, regulations, court decisions, activities of various organizations and current practices and developments that assure participants an up-todate understanding of royalty determination and payment.

Every two years, leaders from industry, government, financial institutions, educational institutions, the legal profession, and the accounting profession gather to make available to participants their wealth of knowledge resulting from their years of education, experience and personal contacts. This conference presents a unique opportunity for anyone interested in the determination, payment or receipt of royalties to expand his or her knowledge and to hone skills. The variety of sessions assures that each hour of the conference provides a valuable learning experience.

National Oil and Gas Conference Accounting & Financial Reporting: Taxation, Regulations and Managerial Challenges will delve deeply into domestic and international topics and trends facing the oil and gas industry today. Expert speakers will provide insight into recent tax, accounting and auditing, international and legal issues.

With a broad range of key topics, top-quality speakers and numerous networking opportunities available to conference attendees - this is one conference you won’t want to miss.

Materials - Requires User ID and Password to Access

Agenda

General Session-Economic Outlook for the Oil & Gas Industry / Felmy

The Evolving Royalty Obligation and Its Impact on SOX Compliance and Reporting / Danielson and Elofson

Unique Federal Imcome Taxation Rules Used for Oil and Gas Operations / Hennesse

The Dark Side - Fraud in the Petroleum Industry / Leone and Mabry

Analysis of Today's Production-Sharing Agreements and Other Contractual Arrangements for Foreign Operations / Johnston

Federal Oil and Gas Tax Update / Tripp

Drivers of Increasing Capital Costs in the Upstream, Downstream and Power Markets - Future Directions / Ward

Challenges and Opportunitites for Oil and Gas Upstream Operations in the Rocky Mountain Region / Smith

Conflicts Between Operators and ROyalty Owners: Costs That Are Chargeable Against Royalties and Users of Surface and Water / King

Accounting for Goodwill Related to Sales and Purchases of Oil and Gas Properties / Clifton

Scarcity of Personnel Respources in the Oil and Gas Industry / McClure

SEC Overall Update / Curtis and King

Complex Issues in Applying New Accounting Rules to Full-Costing / Conner

Alternative Energy Sources in Our Future / Barton

Strategies of Private Equity Investments in the Oil and Gas Industry / McMahon

Cost Containment Strategies for the Industry: Drivers of Cost-Escalation and the Solutions / Coates

Financial Accounting and Reporting for MLPs and Related Organizations / Kramer

Update on Income Taxes, Severance Taxes and Other State Taxes Affecting Oil and Gas Producers / Samules and Stein

Emission Allowances and Their Impact on the Industry / Hilemon

Overview of Current Accounting and Financial Reporting Issues in the Industry / Tune

Tax Issues for MLPs and Related Organizations / Ratcliff

Recent Developments in Oil and Gas Reserve Definitions: Implications for Financial Accounting and Reporting / Seager

The Taxation of American Oil and Gas Companies Engaged in International Operations / Bibb

How an Integrated Communications Program Soothes the Savage Beast and Improves Your Company's Valuation / Barnett

IASC Extractive Industries Project and the Convergence of International and US GAAP / Nichols

The Present and Future of Canadian Oil Sands and Other Unconventional Reserves / Munro

Developing Meaningful Cash Flow Statements for the Industry / Miller