U. S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940.
1. Name and Address of Reporting Person
Talley, Joel D.
407 N. Big Spring Street
Midland, TX 79701
2. Issuer Name and Ticker or Trading Symbol
Southwest Royalties, Inc. Income Fund V
3. IRS or Social Security Number of Reporting Person
###-##-####
4. Statement for Month/Year
September 1997
5. If Amendment, Date of Original
N/A
6. Relationship of Reporting Person to Issuer
Southwest Royalties, Inc. as Managing General Partner, of
which reporting person is Vice-President, Exploitation Manager.
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TABLE I
1. Title of Security
Limited partnership interest
Units
Date Code Units Acquired Price Owned Ownership Nature
---- ---- ----- -------- ----- ----- --------- ------
09-19-97 P 2.00 A $311.18 1,148.50 I *
09-24-97 P 6.00 A $310.64 1,154.50 I *
* Southwest Royalties, Inc. as Managing General Partner, of which
reporting person is Vice-President, Exploitation Manager.
Date:October 2, 1997 /s/ Joel D. Talley
---------------------------------
Joel D. Talley, Vice-President,
Exploitation Manager of Southwest
Royalties, Inc. the Managing
General Partner
