FORM 10-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
(Mark One)
[x] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 [Fee Required]
For the fiscal year ended December 31, 1999
OR
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 [No Fee Required]
For the transition period from to
Commission File Number 0-15411
Southwest Royalties, Inc. Income Fund VI
(Exact name of registrant as specified in
its limited partnership agreement)
Tennessee 75-2127812
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
407 N. Big Spring, Suite 300, Midland, Texas 79701
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area (915) 686-9927
Securities registered pursuant to Section 12(b) of the Act:
None
Securities registered pursuant to Section 12(g) of the Act:
limited partnership interests
Indicate by check mark whether registrant (1) has filed reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days: Yes x No
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K (229.405 of this chapter) is not contained herein,
and will not be contained, to the best of registrant's knowledge, in
definitive proxy or information statements incorporated by reference in
Part III of this Form 10-K or any amendment to this Form 10-K. [x]
The registrant's outstanding securities consist of Units of limited
partnership interests for which there exists no established public market
from which to base a calculation of aggregate market value.
The total number of pages contained in this report is 50. The exhibit
index is found on page 45.
<PAGE>
Table of Contents
Item Page
Part I
1. Business 3
2. Properties 7
3. Legal Proceedings 9
4. Submission of Matters to a Vote of Security Holders 9
Part II
5. Market for the Registrant's Common Equity and Related
Stockholder Matters 10
6. Selected Financial Data 11
7. Management's Discussion and Analysis of
Financial Condition and Results of Operations 12
8. Financial Statements and Supplementary Data 19
9. Changes in and Disagreements with Accountants
on Accounting and Financial Disclosure 34
Part III
10. Directors and Executive Officers of the Registrant 35
11. Executive Compensation 37
12. Security Ownership of Certain Beneficial Owners
and Management 37
13. Certain Relationships and Related Transactions 39
Part IV
14. Exhibits, Financial Statement Schedules and Reports
on Form 8-K 40
Signatures 44
<PAGE>
Part I
Item 1. Business
General
Southwest Royalties, Inc. Income Fund VI (the "Partnership" or
"Registrant") was organized as a Tennessee limited partnership on December
4, 1986. The offering of limited partnership interests began August 25,
1986, reached minimum capital requirements on October 3, 1986 and concluded
January 29, 1987. The Partnership has no subsidiaries.
The Partnership has expended its capital and acquired interests in
producing oil and gas properties. After such acquisitions, the Partnership
has produced and marketed the crude oil and natural gas produced from such
properties. In most cases, the Partnership purchased royalty or overriding
royalty interests and working interests in oil and gas properties that were
converted into net profits interests or other nonoperating interests. The
Partnership purchased either all or part of the rights and obligations
under various oil and gas leases.
The principal executive offices of the Partnership are located at 407 N.
Big Spring, Suite 300, Midland, Texas, 79701. The Managing General Partner
of the Partnership, Southwest Royalties, Inc. (the "Managing General
Partner") and its staff of 97 individuals, together with certain
independent consultants used on an "as-needed" basis, perform various
services on behalf of the Partnership, including the selection of oil and
gas properties and the marketing of production from such properties. H. H.
Wommack, III, a stockholder, director, President and Treasurer of the
Managing General Partner, is also a general partner. The Partnership has
no employees.
Principal Products, Marketing and Distribution
The Partnership has acquired and holds royalty interests and net profit
interests in oil and gas properties located in Texas, Illinois, Colorado
and Oklahoma. All activities of the Partnership are confined to the
continental United States. All oil and gas produced from these properties
is sold to unrelated third parties in the oil and gas business.
The revenues generated from the Partnership's oil and gas activities are
dependent upon the current market for oil and gas. The prices received by
the Partnership for its oil production depend upon numerous factors beyond
the Partnership's control, including competition, economic, political and
regulatory developments and competitive energy sources, and make it
particularly difficult to estimate future prices of oil and natural gas.
<PAGE>
Oil prices experienced a year of recovery during 1999. After seeing prices
languish near $10 per barrel in December 1998, a rebound occurred that
would briefly push NYMEX pricing over $27 in late November 1999. Crude oil
prices reached $20 per barrel in mid-July and would not fall below $21 the
rest of the year. There were drastic improvements to the main factors that
gave rise to the worst price depression in history. These improvements
provoked a spike in crude oil prices to levels not seen since the Gulf War.
First, OPEC has done a remarkable job of adhering to production cuts agreed
to in March, despite the temptation to cheat given current pricing. As
prices have risen over the last twelve months, OPEC has consistently
maintained a compliance rate above 90 percent. Also, most foreign markets
are well on their way to recovery, greatly increasing the demand for energy
in those countries. These and other factors have eliminated the
"oversupply" of crude oil that we experienced in 1998. The near month
contract for crude oil settled at $25.60 per barrel on December 30, 1999.
In 1999 natural gas prices rose 10% to an average of $2.18/MMBtu, 18 cents
higher than the $2.00/MMBtu average seen in 1998. Despite warmer-than-
normal heating seasons at both ends of the year, 1999 was the fourth year
in a row that prices averaged $2.00/MMBtu or above. Citing lower storage
levels and a rising demand for natural gas, industry experts are predicting
a "healthy jump" in prices for 2000. Although higher prices in 1999 fueled
an increase in production, end of year gas in storage nationwide is only
75% of capacity as compared to 87% at the end of 1998. Further, gas demand
is expected to continue to increase at a faster pace than the amount of gas
being replaced. A record breaking 70% of single-family homes built in 1999
were equipped with natural gas services ranging from traditional heating to
water heating, cooking and grilling. Based on these encouraging
statistics, we remain optimistic in our expectation of slightly higher
natural gas prices in the coming year, hopefully seeing an average above
the $2.20/MMBtu level.
Following is a table of the ratios of revenues received from oil and gas
production for the last three years:
Oil Gas
1999 44% 56%
1998 37% 63%
1997 45% 55%
As the table indicates, the Partnership's revenue is almost evenly divided
between its oil and gas production, the Partnership revenues will be highly
dependent upon the future prices and demands for oil and gas.
Seasonality of Business
Although the demand for natural gas is highly seasonal, with higher demand
in the colder winter months and in very hot summer months, the Partnership
has been able to sell all of its natural gas, either through contracts in
place or on the spot market at the then prevailing spot market price. As a
result, the volumes sold by the Partnership have not fluctuated materially
with the change of season.
<PAGE>
Customer Dependence
No material portion of the Partnership's business is dependent on a single
purchaser, or a very few purchasers, where the loss of one would have a
material adverse impact on the Partnership. Three purchasers accounted for
64% of the Partnership's total oil and gas production during 1999:
Phillips 66 Natural Gas Co. for 42%, Scurlock Permian LLC for 11% and
Genesis Crude Oil for 11%. Two purchasers accounted for 49% of the
Partnership's total oil and gas production during 1998: Nustar Joint
Venture for 38% and Scurlock Permian LLC for 11%. Five purchasers
accounted for 67% of the Partnership's total oil and gas production during
1997: Nustar Joint Venture 17%, Torch Operating Company 16%, Scurlock
Permian Corporation 13%, Aquila Southwest Pipeline Corporation 11% and
Enron Oil and Transportation Incorporated 10%. All purchasers of the
Partnership's oil and gas production are unrelated third parties. In the
event any of these purchasers were to discontinue purchasing the
Partnership's production, the Managing General Partner believes that a
substitute purchaser or purchasers could be located without undue delay.
No other purchaser accounted for an amount equal to or greater than 10% of
the Partnership's sales of oil and gas production.
Competition
Because the Partnership has utilized all of its funds available for the
acquisition of net profits or royalty interests in producing oil and gas
properties, it is not subject to competition from other oil and gas
property purchasers. See Item 2, Properties.
Factors that may adversely affect the Partnership include delays in
completing arrangements for the sale of production, availability of a
market for production, rising operating costs of producing oil and gas and
complying with applicable water and air pollution control statutes,
increasing costs and difficulties of transportation, and marketing of
competitive fuels. Moreover, domestic oil and gas must compete with
imported oil and gas and with coal, atomic energy, hydroelectric power and
other forms of energy.
Regulation
Oil and Gas Production - The production and sale of oil and gas is subject
to federal and state governmental regulation in several respects, such as
existing price controls on natural gas and possible price controls on crude
oil, regulation of oil and gas production by state and local governmental
agencies, pollution and environmental controls and various other direct and
indirect regulation. Many jurisdictions have periodically imposed
limitations on oil and gas production by restricting the rate of flow for
oil and gas wells below their actual capacity to produce and by imposing
acreage limitations for the drilling of wells. The federal government has
the power to permit increases in the amount of oil imported from other
countries and to impose pollution control measures.
<PAGE>
Various aspects of the Partnership's oil and gas activities are regulated
by administrative agencies under statutory provisions of the states where
such activities are conducted and by certain agencies of the federal
government for operations on Federal leases. Moreover, certain prices at
which the Partnership may sell its natural gas production are controlled by
the Natural Gas Policy Act of 1978, the Natural Gas Wellhead Decontrol Act
of 1989 and the regulations promulgated by the Federal Energy Regulatory
Commission.
Environmental- The Partnership's oil and gas activities are subject to
extensive federal, state and local laws and regulations governing the
generation, storage, handling, emission, transportation and discharge of
materials into the environment. Governmental authorities have the power to
enforce compliance with their regulations, and violations carry substantial
penalties. This regulatory burden on the oil and gas industry increases
its cost of doing business and consequently affects its profitability. The
Managing General Partner is unable to predict what, if any, effect
compliance will have on the Partnership.
Industry Regulations and Guidelines - Certain industry regulations and
guidelines apply to the registration, qualification and operation of oil
and gas programs in the form of limited partnerships. The Partnership is
subject to these guidelines which regulate and restrict transactions
between the Managing General Partner and the Partnership. The Partnership
complies with these guidelines and the Managing General Partner does not
anticipate that continued compliance will have a material adverse effect on
Partnership operations.
Partnership Employees
The Partnership has no employees; however, the Managing General Partner has
a staff of geologists, engineers, accountants, landmen and clerical staff
who engage in Partnership activities and operations and perform additional
services for the Partnership as needed. In addition to the Managing
General Partner's staff, the Partnership engages independent consultants
such as petroleum engineers and geologists as needed. As of December 31,
1999, there were 97 individuals directly employed by the Managing General
Partner in various capacities.
<PAGE>
Item 2. Properties
In determining whether an interest in a particular producing property was
to be acquired, the Managing General Partner considered such criteria as
estimated oil and gas reserves, estimated cash flow from the sale of
production, present and future prices of oil and gas, the extent of
undeveloped and unproved reserves, the potential for secondary, tertiary
and other enhanced recovery projects and the availability of markets.
As of December 31, 1999, the Partnership possessed an interest in oil and
gas properties located in Jackson and Weld Counties of Colorado; Clinton,
Lawrence and Marion Counties of Illinois; Alfalfa, Beaver, Ellis, Garvin,
Haskell, Latimer, Leflore, Logan, McClain, Noble, Pottawatomie, Roger
Mills, Seminole and Woods Counties of Oklahoma; Brazos, Burleson, Coke,
Crane, Eastland, Ector, Fayette, Gaines, Glasscock, Jim Wells, Lee,
Lipscomb, Mitchell, Nolan, Pecos, Reeves, Robertson, Runnels, Sterling,
Upton, Ward and Winkler Counties of Texas. These properties consist of
various interests in approximately 172 wells and units.
Due to the Partnership's objective of maintaining current operations
without engaging in the drilling of any developmental or exploratory wells,
or additional acquisitions of producing properties, there has not been any
significant changes in properties during 1999, 1998 and 1997.
There were no leases sold during 1999. During 1998, 78 leases were sold
for approximately $61,000. During 1997, one lease was sold for
approximately $20,000.
<PAGE>
Significant Properties
The following table reflects the significant properties in which the
Partnership has an interest:
Date
Purchased No. of Proved Reserves*
Name and Location and Interest Wells Oil (bbls) Gas (mcf)
- ----------------- ------------ ------ ---------- ---------
Mobil Amacker 7/87 at 23% 10 32,000 4,252,000
Tippet to 100% net
Upton County, profits
Texas interests
Enron/Rhoda 4/87 at 2% 41 96,000 372,000
Walker to 100% net
Ward County, profits
Texas interests
*Donald R. Creamer, P.E., an independent registered petroleum engineer
prepared the reserve and present value data for the Partnership's existing
properties as of January 1, 2000. The reserve estimates were made in
accordance with guidelines established by the Securities and Exchange
Commission pursuant to Rule 4-10(a) of Regulation S-X. Such guidelines
require oil and gas reserve reports be prepared under existing economic and
operating conditions with no provisions for price and cost escalation
except by contractual arrangements.
The New York Mercantile Exchange price at December 31, 1999 of $25.60 was
used as the beginning basis for the oil price. Oil price adjustments from
$25.60 per barrel were made in the individual evaluations to reflect oil
quality, gathering and transportation costs. The results are an average
price received at the lease of $23.71 per barrel in the preparation of the
reserve report as of January 1, 2000.
In the determination of the gas price, the New York Mercantile Exchange
price at December 31, 1999 of $2.33 was used as the beginning basis. Gas
price adjustments from $2.33 per Mcf were made in the individual
evaluations to reflect BTU content, gathering and transportation costs and
gas processing and shrinkage. The results are an average price received at
the lease of $2.23 per Mcf in the preparation of the reserve report as of
January 1, 2000.
<PAGE>
As also discussed in Part II, Item 7, Management's Discussion and Analysis
of Financial Condition and Results of Operations, oil and gas prices were
subject to frequent changes in 1999.
The evaluation of oil and gas properties is not an exact science and
inevitably involves a significant degree of uncertainty, particularly with
respect to the quantity of oil or gas that any given property is capable of
producing. Estimates of oil and gas reserves are based on available
geological and engineering data, the extent and quality of which may vary
in each case and, in certain instances, may prove to be inaccurate.
Consequently, properties may be depleted more rapidly than the geological
and engineering data have indicated.
Unanticipated depletion, if it occurs, will result in lower reserves than
previously estimated; thus an ultimately lower return for the Partnership.
Basic changes in past reserve estimates occur annually. As new data is
gathered during the subsequent year, the engineer must revise his earlier
estimates. A year of new information, which is pertinent to the estimation
of future recoverable volumes, is available during the subsequent year
evaluation. In applying industry standards and procedures, the new data
may cause the previous estimates to be revised. This revision may increase
or decrease the earlier estimated volumes. Pertinent information gathered
during the year may include actual production and decline rates, production
from offset wells drilled to the same geologic formation, increased or
decreased water production, workovers, and changes in lifting costs, among
others. Accordingly, reserve estimates are often different from the
quantities of oil and gas that are ultimately recovered.
The Partnership has reserves which are classified as proved developed
producing, proved developed non-producing and proved undeveloped. All of
the proved reserves are included in the engineering reports which evaluate
the Partnership's present reserves.
Because the Partnership does not engage in drilling activities, the
development of proved undeveloped reserves is conducted pursuant to farmout
arrangements with the Managing General Partner or unrelated third parties.
Generally, the Partnership retains a carried interest such as an overriding
royalty interest under the terms of a farmout, or receives cash.
The Partnership or the owners of properties in which the Partnership owns
an interest can engage in workover projects or supplementary recovery
projects, for example, to extract behind the pipe reserves which qualify as
proved developed non-producing reserves. See Part II, Item 7, Management's
Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Legal Proceedings
There are no material pending legal proceedings to which the Partnership is
a party.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote of security holders during the fourth
quarter of 1999 through the solicitation of proxies or otherwise.
<PAGE>
Part II
Item 5. Market for the Registrant's Common Equity and Related Stockholder
Matters
Market Information
Limited partnership interests, or units, in the Partnership were initially
offered and sold for a price of $500. Limited partner units are not traded
on any exchange and there is no public or organized trading market for
them. The Managing General Partner has become aware of certain limited and
sporadic transfers of units between limited partners and third parties, but
has no verifiable information regarding the prices at which such units have
been transferred. Further, a transferee may not become a substitute
limited partner without the consent of the Managing General Partner.
After completion of the Partnership's first full fiscal year of operations
and each year thereafter, the Managing General Partner has offered and will
continue to offer to purchase each limited partner's interest in the
Partnership, at a price based on tangible assets of the Partnership, plus
the present value of the future net revenues of proved oil and gas
properties, minus liabilities with a risk factor discount of up to one-
third which may be implemented at the sole discretion of the Managing
General Partner. However, the Managing General Partner's obligation to
purchase limited partner units is limited to an expenditure of an amount
not in excess of 10% of the total limited partner units initially
subscribed for by limited partners. In 1999, 117 limited partner units
were tendered to and purchased by the Managing General Partner at an
average base price of $92.83 per unit. In 1998, 490 limited partner units
were tendered to and purchased by the Managing General Partner at an
average base price of $161.40 per unit. In 1997, 940 limited partner units
were tendered to and purchased by the Managing General Partner at an
average base price of $285.09 per unit.
Number of Limited Partner Interest Holders
As of December 31, 1999 there were 826 holders of limited partner units in
the Partnership.
Distributions
Pursuant to Article IV, Section 4.01 of the Partnership's Certificate and
Agreement of Limited Partnership "Net Cash Flow" is distributed to the
partners on a monthly basis. "Net Cash Flow" is defined as "the cash
generated by the Partnership's investments in producing oil and gas
properties, less (i) General and Administrative Costs, (ii) Operating
Costs, and (iii) any reserves necessary to meet current and anticipated
needs of the Partnership, as determined at the sole discretion of the
Managing General Partner."
<PAGE>
During 1999, distributions were made totaling $475,000, with $427,500
distributed to the limited partners and $47,500 to the general partners.
For the year ended December 31, 1999, distributions of $21.38 per limited
partner unit were made, based upon 20,000 limited partner units
outstanding. During 1998, distributions were made totaling $439,961, with
$398,261 distributed to the limited partners and $41,700 to the general
partners. For the year ended December 31, 1998, distributions of $19.91
per limited partner unit were made, based upon 20,000 limited partner units
outstanding. During 1997, twelve monthly distributions were made totaling
$929,000, with $836,100 distributed to the limited partners and $92,900 to
the general partners. For the year ended December 31, 1997, distributions
of $41.81 per limited partner unit were made, based upon 20,000 limited
partner units outstanding.
Item 6. Selected Financial Data
The following selected financial data for the years ended December 31,
1999, 1998, 1997, 1996 and 1995 should be read in conjunction with the
financial statements included in Item 8:
Years ended December 31,
------------------------------------------------------------
1999 1998 1997 1996 1995
---- ---- ---- ---- ----
Revenues $ 830,452 367,745 964,866 1,317,978 1,030,181
Net income (loss) 523,863 (49,492) 526,063 934,674 610,015
Partners' share
of net income (loss):
General partners 52,386 (4,949) 52,607 93,468 61,001
Limited partners 471,477 (44,543) 473,456 841,206 549,014
Limited partners'
net income (loss)
per unit 23.57 (2.23) 23.67 42.06
27.45
Limited partners'
cash distributions
per unit 21.38 19.91 41.81 51.27
45.51
Total assets $2,202,052 2,152,173 2,641,528 3,044,532 3,249,010
<PAGE>
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations
General
The Partnership was formed to acquire nonoperating interests in producing
oil and gas properties, to produce and market crude oil and natural gas
produced from such properties and to distribute any net proceeds from
operations to the general and limited partners. Net revenues from
producing oil and gas properties are not reinvested in other revenue
producing assets except to the extent that producing facilities and wells
are reworked or where methods are employed to improve or enable more
efficient recovery of oil and gas reserves. The economic life of the
Partnership thus depends on the period over which the Partnership's oil and
gas reserves are economically recoverable.
Increases or decreases in Partnership revenues and, therefore,
distributions to partners will depend primarily on changes in the prices
received for production, changes in volumes of production sold, lease
operating expenses, enhanced recovery projects, offset drilling activities
pursuant to farmout arrangements and on the depletion of wells. Since
wells deplete over time, production can generally be expected to decline
from year to year.
Well operating costs and general and administrative costs usually decrease
with production declines; however, these costs may not decrease
proportionately. Net income available for distribution to the limited
partners has fluctuated over the past few years and is expected to
fluctuate in later years based on these factors.
Based on current conditions, management anticipates performing several
workovers during 2000 and 2001 to enhance production. The partnership may
have an increase in production volumes for the years 2000 and 2001, but
thereafter, the partnership could possibly experience the historical
production decline of approximately 9% per year.
<PAGE>
Results of Operations
A. General Comparison of the Years Ended December 31, 1999 and 1998
The following table provides certain information regarding performance
factors for the years ended December 31, 1999 and 1998:
Year Ended Percentage
December 31, Increase
1999 1998 (Decrease)
---- ---- ---------
Average price per barrel of oil $ 16.98 12.38 37%
Average price per mcf of gas $ 2.31 1.89 22%
Oil production in barrels 43,840 40,600 8%
Gas production in mcf 406,660 453,300 (10%)
Income from net profits interests $ 823,002 362,778 127%
Partnership distributions $ 475,000 439,961 7%
Limited partner distributions $ 427,500 398,261 7%
Per unit distribution to limited partners $ 21.38 19.91
7%
Number of limited partner units 20,000 20,000
Revenues
The Partnership's income from net profits interests increased to $823,002
from $362,778 for the years ended December 31, 1999 and 1998, respectively,
an increase of 127%. The principal factors affecting the comparison of the
years ended December 31, 1999 and 1998 are as follows:
1. The average price for a barrel of oil received by the Partnership
increased during the year ended December 31, 1999 as compared to the
year ended December 31, 1998 by 37%, or $4.60 per barrel, resulting in
an increase of approximately $186,800 in income from net profits
interests. Oil sales represented 44% of total oil and gas sales during
the year ended December 31, 1999 as compared to 37% during the year
ended December 31, 1998.
The average price for an mcf of gas received by the Partnership
increased during the same period by 22%, or $.42 per mcf, resulting in
an increase of approximately $190,400 in income from net profits
interests.
The total increase in income from net profits interests due to the
change in prices received from oil and gas production is approximately
$377,200. The market price for oil and gas has been extremely volatile
over the past decade and management expects a certain amount of
volatility to continue in the foreseeable future.
<PAGE>
2. Oil production increased approximately 3,240 barrels or 8% during the
year ended December 31, 1999 as compared to the year ended December 31,
1998, resulting in an increase of approximately $55,000 in income from
net profits interests.
Gas production decreased approximately 46,640 mcf or 10% during the
same period, resulting in a decrease of approximately $107,700 in
income from net profits interests.
The net total decrease in income from net profits interests due to the
change in production is approximately $52,700. The increase in oil
production is due primarily to a successful workover performed during
the beginning of 1999. Production climbed during the middle of 1999
and then experienced a sharp decline. The decrease in gas production
is due primarily to a significant gas well, which experienced down
time, but after a major workover has slowly regained previous
production levels.
3. Lease operating costs and production taxes were 13% lower, or
approximately $134,000 less during the year ended December 31, 1999 as
compared to the year ended December 31, 1998. The decrease in lease
operating costs were primarily due to downtime and the shut-in of
uneconomical wells.
Costs and Expenses
Total costs and expenses decreased to $306,589 from $417,237 for the years
ended December 31, 1999 and 1998, respectively, a decrease of 27%. The
decrease is primarily the result of lower depletion expense and general and
administrative costs.
1. General and administrative costs consists of independent accounting and
engineering fees, computer services, postage, and Managing General
Partner personnel costs. General and administrative costs decreased
12% or approximately $19,600 during the year ended December 31, 1999 as
compared to the year ended December 31, 1998. The decrease of general
and administrative costs were due in part to additional accounting
costs incurred in 1998 in relation to the outsourcing of K-1 tax
package preparation and a change in auditors requiring opinions from
both the predecessors and successor auditors. Additionally, the
Managing General Partner in its effort to cut back on general and
administrative costs whenever and wherever possible was able to reduce
the cost of reserve reports and K-1 tax package preparation during
1999.
2. Depletion expense decreased to $156,000 for the year ended December 31,
1999 from $247,000 for the same period in 1998. This represents a
decrease of 37%. Depletion is calculated using the units of revenue
method of amortization based on a percentage of current period gross
revenues to total future gross oil and gas revenues, as estimated by
the Partnership's independent petroleum consultants.
A contributing factor to the decrease in depletion expense between the
comparative periods was the increase in the price of oil and gas used
to determine the Partnership's reserves for January 1, 2000 as compared
to 1999. Another contributing factor was due to the impact of
revisions of previous estimates on reserves. Revisions of previous
estimates can be attributed to the changes in production performance,
oil and gas price and production costs. The impact of the revision
would have decreased depletion expense approximately $85,000 as of
December 31, 1998.
<PAGE>
Results of Operations
B. General Comparison of the Years Ended December 31, 1998 and 1997
The following table provides certain information regarding performance
factors for the years ended December 31, 1998 and 1997:
Year Ended Percentage
December 31, Increase
1998 1997 (Decrease)
---- ---- ---------
Average price per barrel of oil $ 12.38 18.81 (34%)
Average price per mcf of gas $ 1.89 2.44 (23%)
Oil production in barrels 40,600 50,100 (19%)
Gas production in mcf 453,300 471,100 (4%)
Income from net profits interests $ 362,778 955,069 (62%)
Partnership distributions $ 439,961 929,000 (55%)
Limited partner distributions $ 398,261 836,100 (52%)
Per unit distribution to limited partners $ 19.91 41.81
(52%)
Number of limited partner units 20,000 20,000
Revenues
The Partnership's income from net profits interests decreased to $362,778
from $955,069 for the years ended December 31, 1998 and 1997, respectively,
a decrease of 62%. The principal factors affecting the comparison of the
years ended December 31, 1998 and 1997 are as follows:
1. The average price for a barrel of oil received by the Partnership
decreased during the year ended December 31, 1998 as compared to the
year ended December 31, 1997 by 34%, or $6.43 per barrel, resulting in
a decrease of approximately $322,100 in income from net profits
interests. Oil sales represented 37% of total oil and gas sales during
the year ended December 31, 1998 as compared to 45% during the year
ended December 31, 1997.
The average price for an mcf of gas received by the Partnership
decreased during the same period by 23%, or $.55 per mcf, resulting in
a decrease of approximately $259,100 in income from net profits
interests.
The total decrease in income from net profits interests due to the
change in prices received from oil and gas production is approximately
$581,200. The market price for oil and gas has been extremely volatile
over the past decade and management expects a certain amount of
volatility to continue in the foreseeable future.
<PAGE>
2. Oil production decreased approximately 9,500 barrels or 19% during the
year ended December 31, 1998 as compared to the year ended December 31,
1997, resulting in a decrease of approximately $117,600 in income from
net profits interests.
Gas production decreased approximately 17,800 mcf or 4% during the same
period, resulting in a decrease of approximately $33,600 in income from
net profits interests.
The total decrease in income from net profits interests due to the
change in production is approximately $151,200. The decrease in
production is in relation to downtime due to mechanical problems
uneconomical to repair at current oil prices and the sale of
properties.
3. Lease operating costs and production taxes were 12% lower, or
approximately $142,200 less during the year ended December 31, 1998 as
compared to the year ended December 31, 1997.
Costs and Expenses
Total costs and expenses decreased to $417,237 from $438,803 for the years
ended December 31, 1998 and 1997, respectively, a decrease of 5%. The
decrease is primarily the result of lower depletion expense, partially
offset by an increase in general and administrative costs.
1. General and administrative costs consists of independent accounting and
engineering fees, computer services, postage, and Managing General
Partner personnel costs. General and administrative costs increased 8%
or approximately $12,400 during the year ended December 31, 1998 as
compared to the year ended December 31, 1997.
2. Depletion expense decreased to $247,000 for the year ended December 31,
1998 from $281,000 for the same period in 1997. This represents a
decrease of 12%. Depletion is calculated using the units of revenue
method of amortization based on a percentage of current period gross
revenues to total future gross oil and gas revenues, as estimated by
the Partnership's independent petroleum consultants.
A contributing factor to the decrease in depletion expense between the
comparative periods was the decrease in the price of oil and gas used
to determine the Partnership's reserves for January 1, 1999 as compared
to 1998. Another contributing factor was due to the impact of
revisions of previous estimates on reserves. Revisions of previous
estimates can be attributed to the changes in production performance,
oil and gas price and production costs. The impact of the revision
would have decreased depletion expense approximately $29,000 as of
December 31, 1997.
<PAGE>
C. Revenue and Distribution Comparison
Partnership net income (loss) for the years ended December 31, 1999, 1998
and 1997 was $523,863 in 1999, $(49,492) in 1998 and $526,063 in 1997.
Excluding the effects of depreciation, depletion and amortization, net
income for the years ended December 31, 1999, 1998 and 1997 would have been
$679,863, 197,508 and $807,063, respectively. Correspondingly, Partnership
distributions for the years ended December 31, 1999, 1998 and 1997 were
$475,000, $439,961 and $929,000, respectively. These differences are
indicative of the changes in oil and gas prices, production and properties
during 1999, 1998 and 1997.
The sources for the 1999 distributions of $475,000 were oil and gas
operations of approximately $616,600, resulting in excess cash for
contingencies or subsequent distributions. The sources for the 1998
distributions of $439,961 were oil and gas operations of approximately
$339,200 and the change in oil and gas properties of approximately $98,400,
with the balance from available cash on hand at the beginning of the
period. The sources for the 1997 distributions of $929,000 were oil and
gas operations of approximately $893,500 and the change in oil and gas
properties of approximately $10,800, with the balance from available cash
on hand at the beginning of the period.
Total distributions during the year ended December 31, 1999 were $475,000
of which $427,500 was distributed to the limited partners and $47,500 to
the general partners. The per unit distribution to limited partners during
the same period was $21.38. Total distributions during the year ended
December 31, 1998 were $439,961 of which $398,261 was distributed to the
limited partners and $41,700 to the general partners. The per unit
distribution to limited partners during the same period was $19.91. Total
distributions during the year ended December 31, 1997 were $929,000 of
which $836,100 was distributed to the limited partners and $92,900 to the
general partners. The per unit distribution to limited partners during the
same period was $41.81.
Since inception of the Partnership, cumulative monthly cash distributions
of $15,151,459 have been made to the partners. As of December 31, 1999,
$13,651,782 or $682.59 per limited partner unit, has been distributed to
the limited partners, representing a 137% return of the capital
contributed.
<PAGE>
Liquidity and Capital Resources
The primary source of cash is from operations, the receipt of income from
net profits interests in oil and gas properties. The Partnership knows of
no material change, nor does it anticipate any such change.
Cash flows provided by operating activities were approximately $616,600 in
1999 compared to $339,200 in 1998 and approximately $893,500 in 1997. The
primary source of the 1999 cash flow from operating activities was
profitable operations.
The Partnership had no cash flows from investing activities in 1999. Cash
flows provided by investing activities were approximately $98,400 in 1998
and approximately $10,800 in 1997.
Cash flows used in financing activities were approximately $474,000 in 1999
compared to $439,900 in 1998 and approximately $929,000 in 1997. The only
use in financing activities was the distributions to partners.
As of December 31, 1999, the Partnership had approximately $353,100 in
working capital. The Managing General Partner knows of no unusual
contractual commitments and believes the revenue generated from operations
are adequate to meet the needs of the Partnership.
Liquidity - Managing General Partner
The Managing General Partner has a highly leveraged capital structure with
over $35.1 million principal and $17.5 million interest payments due in
2000 on its debt obligations. Due to the severely depressed commodity
prices experienced during the last quarter of 1997, throughout 1998 and
continuing through the second quarter of 1999 the Managing General Partner
is experiencing difficulty in generating sufficient cash flow to meet its
obligations and sustain its operations. The Managing General Partner is
currently in the process of renegotiating the terms of its various
obligations with its creditors and/or attempting to seek new lenders or
equity investors. Additionally, the Managing General Partner would
consider disposing of certain assets in order to meet its obligations.
There can be no assurance that the Managing General Partner's debt
restructuring efforts will be successful or that the lenders will agree to
a course of action consistent with the Managing General Partners
requirements in restructuring the obligations. Even if such agreement is
reached, it may require approval of additional lenders, which is not
assured. Furthermore, there can be no assurance that the sales of assets
can be successfully accomplished on terms acceptable to the Managing
General Partner. Under current circumstances, the Managing General
Partner's ability to continue as a going concern depends upon its ability
to (1) successfully restructure its obligations or obtain additional
financing as may be required, (2) maintain compliance with all debt
covenants, (3) generate sufficient cash flow to meet its obligations on a
timely basis, and (4) achieve satisfactory levels of future earnings. If
the Managing General Partner is unsuccessful in its efforts, it may be
unable to meet its obligations making it necessary to undertake such other
actions as may be appropriate to preserve asset values.
Information Systems for the Year 2000
The year 2000 issue referred to the risk of disruptions of operations
caused by the failure of computer-controlled systems, including systems
used by third parties, to properly recognize date sensitive information
when the year changed from 1999 to 2000. During the year ended December
31, 1999, the Managing General Partners data processing subsidiary, Midland
Southwest Software, Inc., installed new software as part of an on-going
project to upgrade its financial and management information systems. The
cost of upgrading the software occurred in the normal course of Midland
Southwest Software's business and was not material to the results of
operations or financial condition of the Partnership.
The Partnership has not experienced any significant business disruptions
due to year 2000 issues causing processing errors in its systems, or a
third party's systems, during the period of operations after January 1,
2000 until the filing of the 10-K.
<PAGE>
Item 8. Financial Statements and Supplementary Data
Index to Financial Statements
Page
Independent Auditors Report 20
Balance Sheets 21
Statements of Operations 22
Statement of Changes in Partners' Equity 23
Statements of Cash Flows 24
Notes to Financial Statements 26
<PAGE>
INDEPENDENT AUDITORS REPORT
The Partners
Southwest Royalties, Inc. Income Fund VI
(A Tennessee Limited Partnership):
We have audited the accompanying balance sheets of Southwest Royalties,
Inc. Income Fund VI (the "Partnership") as of December 31, 1999 and 1998,
and the related statements of operations, changes in partners' equity and
cash flows for each of the years in the three- year period ended December
31, 1999. These financial statements are the responsibility of the
Partnership's management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Southwest Royalties,
Inc. Income Fund VI as of December 31, 1999 and 1998 and the results of its
operations and its cash flows for each of the years in the three-year
period ended December 31, 1999 in conformity with generally accepted
accounting principles.
KPMG LLP
Midland, Texas
March 10, 2000
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Balance Sheets
December 31, 1999 and 1998
1999 1998
---- ----
Assets
Current assets:
Cash and cash equivalents $ 181,112 38,539
Receivable from Managing General Partner 173,306 110,000
- --------- ---------
Total current assets
354,418 148,539
- --------- ---------
Oil and gas properties - using the full-
cost method of accounting 8,426,634 8,426,634
Less accumulated depreciation,
depletion and amortization
6,579,000 6,423,000
- --------- ---------
Net oil and gas properties
1,847,634 2,003,634
- --------- ---------
$
2,202,052 2,152,173
========= =========
Liabilities and Partners' Equity
Current liability - distribution payable $ 1,317 301
- --------- ---------
Partners' equity:
General partners (634,496) (639,382)
Limited partners 2,835,231 2,791,254
- --------- ---------
Total partners' equity
2,200,735 2,151,872
- --------- ---------
$
2,202,052 2,152,173
========= =========
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statements of Operations
Years ended December 31, 1999, 1998 and 1997
1999 1998
1997
---- ----
- ----
Revenues
Income from net profits interests $ 823,002 362,778 955,069
Interest 7,450 4,967 9,797
-------
- --------- ---------
830,452
367,745 964,866
-------
- --------- ---------
Expenses
General and administrative 150,589 170,237 157,803
Depreciation, depletion and amortization 156,000 247,000 281,000
-------
- --------- ---------
306,589
417,237 438,803
-------
- --------- ---------
Net income (loss) $ 523,863 (49,492) 526,063
=======
========= =========
Net income (loss) allocated to:
Managing General Partner $ 47,147 (4,454) 47,346
=======
========= =========
General partner $ 5,239 (495) 5,261
=======
========= =========
Limited partners $ 471,477 (44,543) 473,456
=======
========= =========
Per limited partner unit $ 23.57 (2.23) 23.67
=======
========= =========
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statement of Changes in Partners' Equity
Years ended December 31, 1999, 1998 and 1997
General Limited
Partners Partners Total
-------- -------- -----
Balance at December 31, 1996 $ (552,440) 3,596,702 3,044,262
Net income 52,607 473,456 526,063
Distributions (92,900) (836,100) (929,000)
--------
- ---------- ----------
Balance at December 31, 1997 (592,733) 3,234,058 2,641,325
Net income (loss) (4,949) (44,543) (49,492)
Distributions (41,700) (398,261) (439,961)
--------
- ---------- ----------
Balance at December 31, 1998 (639,382) 2,791,254 2,151,872
Net income 52,386 471,477 523,863
Distributions (47,500) (427,500) (475,000)
--------
- ---------- ----------
Balance at December 31, 1999 $ (634,496) 2,835,231 2,200,735
========
========== ==========
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statements of Cash Flows
Years ended December 31, 1999, 1998 and 1997
1999 1998
1997
---- ----
- ----
Cash flows from operating activities:
Cash received from net profits interests $ 766,709 489,7681,041,521
Cash paid to Managing General Partner
for administrative fees and general
and administrative overhead
(157,603) (155,489)(157,803)
Interest received 7,450 4,967 9,797
--------
- --------- ---------
Net cash provided by operating activities 616,556 339,246
893,515
--------
- --------- ---------
Cash provided by investing activities:
Sale of oil and gas properties - 98,437 10,833
--------
- --------- ---------
Cash used in financing activities:
Distributions to partners (473,983) (439,863)(929,067)
--------
- --------- ---------
Net decrease in cash and cash equivalents 142,573 (2,180) (24,719)
Beginning of year 38,539 40,719 65,438
--------
- --------- ---------
End of year $ 181,112 38,539 40,719
========
========= =========
(continued)
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statements of Cash Flows, continued
Years ended December 31, 1999, 1998 and 1997
1999 1998
1997
---- ----
- ----
Reconciliation of net income (loss) to net
cash provided by operating activities:
Net income (loss) $ 523,863 (49,492) 526,063
Adjustments to reconcile net income (loss) to
net cash provided by operating activities:
Depreciation, depletion and amortization 156,000 247,000
281,000
(Increase) decrease in receivables (56,294) 126,990 86,452
(Decrease) increase in payables (7,013) 14,748 -
-------
- --------- -------
Net cash provided by operating activities $ 616,556 339,246 893,515
=======
========= =======
Supplemental schedule of noncash investing
and financing activities:
Sale of oil and gas property included in
receivable from Managing General Partner $ - -
20,000
================
=======
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
1. Organization
Southwest Royalties, Inc. Income Fund VI was organized under the
laws of the state of Tennessee on December 4, 1986, for the purpose of
acquiring producing oil and gas properties and to produce and market
crude oil and natural gas produced from such properties for a term of
50 years, unless terminated at an earlier date as provided for in the
Partnership Agreement. The Partnership sells its oil and gas
production to a variety of purchasers with the prices it receives being
dependent upon the oil and gas economy. Southwest Royalties, Inc.
serves as the Managing General Partner and H. H. Wommack, III, as the
individual general partner. Revenues, costs and expenses are allocated
as follows:
Limited General
Partners Partners
-------- --------
Interest income on capital contributions 100% -
Oil and gas sales 90% 10%
All other revenues 90% 10%
Organization and offering costs (1) 100% -
Amortization of organization costs 100% -
Property acquisition costs 100% -
Gain/loss on property disposition 90% 10%
Operating and administrative costs (2) 90% 10%
Depreciation, depletion and amortization
of oil and gas properties 90% 10%
All other costs 90% 10%
(1)All organization costs in excess of 3% of initial capital
contributions will be paid by the Managing General Partner and
will be treated as a capital contribution. The Partnership paid
the Managing General Partner an amount equal to 3% of initial
capital contributions for such organization costs.
(2)Administrative costs in any year which exceed 2% of capital
contributions shall be paid by the Managing General Partner and
will be treated as a capital contribution.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
2. Summary of Significant Accounting Policies
Oil and Gas Properties
Oil and gas properties are accounted for at cost under the full-cost
method. Under this method, all productive and nonproductive costs
incurred in connection with the acquisition, exploration and
development of oil and gas reserves are capitalized. Gain or loss on
the sale of oil and gas properties is not recognized unless significant
oil and gas reserves are involved.
The Partnership's policy for depreciation, depletion and amortization
of oil and gas properties is computed under the units of revenue
method. Under the units of revenue method, depreciation, depletion and
amortization is computed on the basis of current gross revenues from
production in relation to future gross revenues, based on current
prices, from estimated production of proved oil and gas reserves.
Under the units of revenue method, the Partnership computes the
provision by multiplying the total unamortized cost of oil and gas
properties by an overall rate determined by dividing (a) oil and gas
revenues during the period by (b) the total future gross oil and gas
revenues as estimated by the Partnership's independent petroleum
consultants. It is reasonably possible that those estimates of
anticipated future gross revenues, the remaining estimated economic
life of the product, or both could be changed significantly in the near
term due to the potential fluctuation of oil and gas prices or
production. The depletion estimate would also be affected by this
change.
Should the net capitalized costs exceed the estimated present value of
oil and gas reserves, discounted at 10%, such excess costs would be
charged to current expense. As of December 31, 1999, 1998 and 1997,
the net capitalized costs did not exceed the estimated present value of
oil and gas reserves.
The Partnership's interest in oil and gas properties consists of net
profits interests in proved properties located within the continental
United States. A net profits interest is created when the owner of a
working interest in a property enters into an arrangement providing
that the net profits interest owner will receive a stated percentage of
the net profit from the property. The net profits interest owner will
not otherwise participate in additional costs and expenses of the
property.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
2. Summary of Significant Accounting Policies - continued
Estimates and Uncertainties
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Actual results could differ
from those estimates.
Syndication Costs
Syndication costs are accounted for as a reduction of partnership
equity.
Environmental Costs
The Partnership is subject to extensive federal, state and local
environmental laws and regulations. These laws, which are constantly
changing, regulate the discharge of materials into the environment and
may require the Partnership to remove or mitigate the environmental
effects of the disposal or release of petroleum or chemical substances
at various sites. Environmental expenditures are expensed or
capitalized depending on their future economic benefit. Costs which
improve a property as compared with the condition of the property when
originally constructed or acquired and costs which prevent future
environmental contamination are capitalized. Expenditures that relate
to an existing condition caused by past operations and that have no
future economic benefits are expensed. Liabilities for expenditures of
a non-capital nature are recorded when environmental assessment and/or
remediation is probable, and the costs can be reasonably estimated.
Gas Balancing
The Partnership utilizes the sales method of accounting for gas-
balancing arrangements. Under this method the Partnership recognizes
sales revenue on all gas sold. As of December 31, 1999 and 1998, the
Partnership was over produced by 1,429 and 1,596 mcf of gas. As of
December 31, 1997, the Partnership was under produced by 16,527 mcf of
gas, respectively.
Income Taxes
No provision for income taxes is reflected in these financial
statements, since the tax effects of the Partnership's income or loss
are passed through to the individual partners.
In accordance with the requirements of Statement of Financial
Accounting Standards No. 109, "Accounting for Income Taxes", the
Partnership's tax basis in its net oil and gas properties at December
31, 1999 and 1998 is $981,811 and $892,768, respectively, less than
that shown on the accompanying Balance Sheets in accordance with
generally accepted accounting principles.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
2. Summary of Significant Accounting Policies - continued
Cash and Cash Equivalents
For purposes of the statements of cash flows, the Partnership considers
all highly liquid debt instruments purchased with a maturity of three
months or less to be cash equivalents. The Partnership maintains its
cash at one financial institution.
Number of Limited Partner Units
As of December 31, 1999, 1998 and 1997, there were 20,000 limited
partner units outstanding held by 826, 848 and 876 partners.
Concentrations of Credit Risk
The Partnership is subject to credit risk through trade receivables.
Although a substantial portion of its debtors' ability to pay is
dependent upon the oil and gas industry, credit risk is minimized due
to a large customer base. All partnership revenues are received by the
Managing General Partner and subsequently remitted to the partnership
and all expenses are paid by the Managing General Partner and
subsequently reimbursed by the partnership.
Fair Value of Financial Instruments
The carrying amount of cash and accounts receivable approximates fair
value due to the short maturity of these instruments.
Net Income (loss) per limited partnership unit
The net income (loss) per limited partnership unit is calculated by
using the number of outstanding limited partnership units.
3. Liquidity - Managing General Partner
The Managing General Partner has a highly leveraged capital structure
with over $35.1 million principal and $17.5 million interest payments
due in 2000 on its debt obligations. Due to the severely depressed
commodity prices experienced during the last quarter of 1997,
throughout 1998 and continuing through the second quarter of 1999 the
Managing General Partner is experiencing difficulty in generating
sufficient cash flow to meet its obligations and sustain its
operations. The Managing General Partner is currently in the process
of renegotiating the terms of its various obligations with its
creditors and/or attempting to seek new lenders or equity investors.
Additionally, the Managing General Partner would consider disposing of
certain assets in order to meet its obligations.
There can be no assurance that the Managing General Partner's debt
restructuring efforts will be successful or that the lenders will agree
to a course of action consistent with the Managing General Partners
requirements in restructuring the obligations. Even if such agreement
is reached, it may require approval of additional lenders, which is not
assured. Furthermore, there can be no assurance that the sales of
assets can be successfully accomplished on terms acceptable to the
Managing General Partner. Under current circumstances, the Managing
General Partner's ability to continue as a going concern depends upon
its ability to (1) successfully restructure its obligations or obtain
additional financing as may be required, (2) maintain compliance with
all debt covenants, (3) generate sufficient cash flow to meet its
obligations on a timely basis, and (4) achieve satisfactory levels of
future earnings. If the Managing General Partner is unsuccessful in
its efforts, it may be unable to meet its obligations making it
necessary to undertake such other actions as may be appropriate to
preserve asset values.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
4. Commitments and Contingent Liabilities
After completion of the Partnership's first full fiscal year of
operations and each year thereafter, the Managing General Partner has
offered and will continue to offer to purchase each limited partner's
interest in the Partnership, at a price based on tangible assets of the
Partnership, plus the present value of the future net revenues of
proved oil and gas properties, minus liabilities with a risk factor
discount of up to one-third which may be implemented at the sole
discretion of the Managing General Partner. However, the Managing
General Partner's obligation to purchase limited partner units is
limited to an expenditure of an amount not in excess of 10% of the
total limited partner units initially subscribed for by limited
partners.
The Partnership is subject to various federal, state and local
environmental laws and regulations, which establish standards and
requirements for protection of the environment. The Partnership cannot
predict the future impact of such standards and requirements, which are
subject to change and can have retroactive effectiveness. The
Partnership continues to monitor the status of these laws and
regulations.
As of December 31, 1999, the Partnership has not been fined, cited or
notified of any environmental violations and management is not aware of
any unasserted violations which would have a material adverse effect
upon capital expenditures, earnings or the competitive position in the
oil and gas industry. However, the Managing General Partner does
recognize by the very nature of its business, material costs could be
incurred in the near term to bring the Partnership into total
compliance. The amount of such future expenditures is not determinable
due to several factors, including the unknown magnitude of possible
contaminations, the unknown timing and extent of the corrective actions
which may be required, the determination of the Partnership's liability
in proportion to other responsible parties and the extent to which such
expenditures are recoverable from insurance or indemnifications from
prior owners of the Partnership's properties.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
5. Related Party Transactions
A significant portion of the oil and gas properties in which the
Partnership has an interest are operated by and purchased from the
Managing General Partner. As is usual in the industry and as provided
for in the operating agreement for each respective oil and gas property
in which the Partnership has an interest, the operator is paid an
amount for administrative overhead attributable to operating such
properties, with such amounts to Southwest Royalties, Inc. as operator
approximating $105,400, $128,200 and $125,000, for the years ended
December 31, 1999, 1998 and 1997, respectively. In addition, the
Managing General Partner and certain officers and employees may have an
interest in some of the properties in which the Partnership also
participates.
Certain subsidiaries or affiliates of the Managing General Partner
perform various oilfield services for properties in which the
Partnership owns an interest. Such services aggregated approximately
$75,500, $16,200 and $4,000, for the years ended December 31, 1999,
1998 and 1997, respectively, and the Managing General Partner believes
that these costs are comparable to similar charges paid by the
Partnership to unrelated third parties.
Southwest Royalties, Inc., the Managing General Partner, was paid
$144,000 during 1999, 1998 and 1997, as an administrative fee for
indirect general and administrative overhead expenses.
Receivables from Southwest Royalties, Inc., the Managing General
Partner, of approximately $173,300 and $110,000 are from oil and gas
production, net of lease operating costs and production taxes, as of
December 31, 1999 and 1998, respectively.
In addition, a director and officer of the Managing General Partner is
a partner in a law firm, with such firm providing legal services to the
Partnership approximating $900, $900 and $1,300, for the years ended
December 31, 1999, 1998 and 1997, respectively.
6. Major Customers
No material portion of the Partnership's business is dependent on a
single purchaser, or a very few purchasers, where the loss of one would
have a material adverse impact on the Partnership. Three purchasers
accounted for 64% of the Partnership's total oil and gas production
during 1999: Phillips 66 Natural Gas Co. for 42%, Scurlock Permian LLC
for 11% and Genesis Crude Oil for 11%. Two purchasers accounted for
49% of the Partnership's total oil and gas production during 1998:
Nustar Joint Venture 38% and Scurlock Permian LLC 11%. Five purchasers
accounted for 67% of the Partnership's total oil and gas production
during 1997: Nustar Joint Venture 17%, Torch Operating Company 16%,
Scurlock Permian Corporation 13%, Aquila Southwest Pipeline Corporation
11% and Enron Oil and Transportation Incorporated 10%. All purchasers
of the Partnership's oil and gas production are unrelated third
parties. In the event any of these purchasers were to discontinue
purchasing the Partnership's production, the Managing General Partner
believes that a substitute purchaser or purchasers could be located
without undue delay. No other purchaser accounted for an amount equal
to or greater than 10% of the Partnership's sales of oil and gas
production.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
7. Estimated Oil and Gas Reserves (unaudited)
The Partnership's interest in proved oil and gas reserves is as
follows:
Oil (bbls)
Gas (mcf)
----------
- ---------
Proved developed and undeveloped reserves -
January 1, 1997 677,000 5,775,000
Revisions of previous estimates (106,000) (1,452,000)
Production (50,000) (471,000)
Sale of minerals in place (11,000) -
------- ---------
December 31, 1997 510,000 3,852,000
Revisions of previous estimates (204,000) 1,802,000
Production (41,000) (453,000)
Sale of minerals in place (9,000) (118,000)
------- ---------
December 31, 1998 256,000 5,083,000
Revisions of previous estimates 215,000 1,078,000
Production (44,000) (407,000)
------- ---------
December 31, 1999 427,000 5,754,000
======= =========
Proved developed reserves -
December 31, 1997 428,000 3,544,000
======= =========
December 31, 1998 216,000 4,891,000
======= =========
December 31, 1999 385,000 5,398,000
======= =========
All of the Partnership's reserves are located within the continental
United States.
*Donald R. Creamer, P.E., an independent registered petroleum engineer
prepared the reserve and present value data for the Partnership's
existing properties as of January 1, 2000. The reserve estimates were
made in accordance with guidelines established by the Securities and
Exchange Commission pursuant to Rule 4-10(a) of Regulation S-X. Such
guidelines require oil and gas reserve reports be prepared under
existing economic and operating conditions with no provisions for price
and cost escalation except by contractual arrangements.
The New York Mercantile Exchange price at December 31, 1999 of $25.60
was used as the beginning basis for the oil price. Oil price
adjustments from $25.60 per barrel were made in the individual
evaluations to reflect oil quality, gathering and transportation costs.
The results are an average price received at the lease of $23.71 per
barrel in the preparation of the reserve report as of January 1, 2000.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
7. Estimated Oil and Gas Reserves (unaudited) - continued
In the determination of the gas price, the New York Mercantile Exchange
price at December 31, 1999 of $2.33 was used as the beginning basis.
Gas price adjustments from $2.33 per Mcf were made in the individual
evaluations to reflect BTU content, gathering and transportation costs
and gas processing and shrinkage. The results are an average price
received at the lease of $2.23 per Mcf in the preparation of the
reserve report as of January 1, 2000.
The evaluation of oil and gas properties is not an exact science and
inevitably involves a significant degree of uncertainty, particularly
with respect to the quantity of oil or gas that any given property is
capable of producing. Estimates of oil and gas reserves are based on
available geological and engineering data, the extent and quality of
which may vary in each case and, in certain instances, may prove to be
inaccurate. Consequently, properties may be depleted more rapidly than
the geological and engineering data have indicated.
Unanticipated depletion, if it occurs, will result in lower reserves
than previously estimated; thus an ultimately lower return for the
Partnership. Basic changes in past reserve estimates occur annually.
As new data is gathered during the subsequent year, the engineer must
revise his earlier estimates. A year of new information, which is
pertinent to the estimation of future recoverable volumes, is available
during the subsequent year evaluation. In applying industry standards
and procedures, the new data may cause the previous estimates to be
revised. This revision may increase or decrease the earlier estimated
volumes. Pertinent information gathered during the year may include
actual production and decline rates, production from offset wells
drilled to the same geologic formation, increased or decreased water
production, workovers, and changes in lifting costs, among others.
Accordingly, reserve estimates are often different from the quantities
of oil and gas that are ultimately recovered.
The Partnership has reserves which are classified as proved developed
producing, proved developed non-producing and proved undeveloped. All
of the proved reserves are included in the engineering reports which
evaluate the Partnership's present reserves.
Because the Partnership does not engage in drilling activities, the
development of proved undeveloped reserves is conducted pursuant to
farmout arrangements with the Managing General Partner or unrelated
third parties. Generally, the Partnership retains a carried interest
such as an overriding royalty interest under the terms of a farmout, or
receives cash.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
7. Estimated Oil & Gas Reserves (unaudited) - continued
The standardized measure of discounted future net cash flows relating
to proved oil and gas reserves at December 31, 1999, 1998 and 1997 is
presented below:
1999 1998 1997
---- ---- ----
Future cash inflows, net of
production and development
costs $ 14,581,000 7,278,000 9,969,000
10% annual discount for
estimated timing of cash
flows 6,733,000 3,397,000 3,406,000
--------- ---------- ----------
Standardized measure of
discounted future net cash
flows $ 7,848,000 3,881,000 6,563,000
========= ========== ==========
The principal sources of change in the standardized measure of
discounted future net cash flows for the years ended December 31,
1999, 1998 and 1997 are as follows:
1999 1998 1997
---- ---- ----
Sales of oil and gas produced,
net of production costs $ (823,000)
(362,000) (955,000)
Changes in prices and production
costs 2,271,000 (1,423,000)(7,159,000)
Changes in estimated future development
cost (122,000) (29,000)
- -
Changes of production rates
(timing) and others (25,000) (1,736,000) 1,053,000
Sales of minerals in place - (131,000) (15,000)
Revisions of previous
quantities estimates 2,278,000
343,000 (1,968,000)
Accretion of discount 388,000 656,000 1,419,000
Discounted future net
cash flows -
Beginning of year 3,881,000 6,563,000 14,188,000
---------- ---------- ----------
End of year $ 7,848,000 3,881,000 6,563,000
========== ========== ==========
Future net cash flows were computed using year-end prices and costs
that related to existing proved oil and gas reserves in which the
Partnership has mineral interests.
Item 9. Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure
None
<PAGE>
Part III
Item 10. Directors and Executive Officers of the Registrant
Management of the Partnership is provided by Southwest Royalties, Inc., as
Managing General Partner. The names, ages, offices, positions and length
of service of the directors and executive officers of Southwest Royalties,
Inc. are set forth below. Each director and executive officer serves for a
term of one year. The present directors of the Managing General Partner
have served in their capacity since the Company's formation in 1983.
Name Age Position
- -------------------- --- -----------------------------------
- -------
H. H. Wommack, III 44 Chairman of the Board,
President,
Chief Executive Officer, Treasurer
and Director
H. Allen Corey 43 Secretary and Director
Bill E. Coggin 45 Vice President and Chief
Financial Officer
J. Steven Person 41 Vice President, Marketing
Paul L. Morris 58 Director
H. H. Wommack, III, is Chairman of the Board, President, Chief Executive
Officer, Treasurer, principal stockholder and a director of the Managing
General Partner, and has served as its President since the Company's
organization in August, 1983. Prior to the formation of the Company, Mr.
Wommack was a self-employed independent oil producer engaged in the
purchase and sale of royalty and working interests in oil and gas leases,
and the drilling of exploratory and developmental oil and gas wells. Mr.
Wommack holds a J.D. degree from the University of Texas from which he
graduated in 1980, and a B.A. from the University of North Carolina in
1977.
H. Allen Corey, a founder of the Managing General Partner, has served as
the Managing General Partner's secretary and a director since its
inception. Mr. Corey is President of Trolley Barn Brewery, Inc., a brew
pub restaurant chain based in the Southeast. Prior to his involvement with
Trolley Barn, Mr. Corey was a partner at the law firm of Miller & Martin in
Chattanooga, Tennessee. He is currently of counsel to the law firm of
Baker, Donelson, Bearman & Caldwell, with the offices in Chattanooga,
Tennessee. Mr. Corey received a J.D. degree from the Vanderbilt University
Law School and B.A. degree from the University of North Carolina at Chapel
Hill.
<PAGE>
Bill E. Coggin, Vice President and Chief Financial Officer, has been with
the Managing General Partner since 1985. Mr. Coggin was Controller for Rod
Ric Corporation of Midland, Texas, an oil and gas drilling company, during
the latter part of 1984. He was Controller for C.F. Lawrence & Associates,
Inc., an independent oil and gas operator also of Midland, Texas during the
early part of 1984. Mr. Coggin taught public school for four years prior
to his business experience. Mr. Coggin received a B.S. in Education and a
B.B.A. in Accounting from Angelo State University.
J. Steven Person, Vice President, Marketing, assumed his responsibilities
with the Managing General Partner as National Marketing Director in 1989.
Prior to joining the Managing General Partner, Mr. Person served as Vice
President of Marketing for CRI, Inc., and was associated with Capital
Financial Group and Dean Witter (1983). He received a B.B.A. from Baylor
University in 1982 and an M.D.A. from Houston Baptist University in 1987.
Paul L. Morris has served as a Director of Southwest Royalties Holdings,
Inc. since August 1998 and Southwest Royalties, Inc. since September 1998.
Mr. Morris is President and CEO of Wagner & Brown, Ltd., one of the largest
independently owned oil and gas companies in the United States. Prior to
his position with Wagner & Brown, Mr. Morris served as President of Banner
Energy and in various managerial positions with Columbia Gas System, Inc.
Key Employees
Jon P. Tate, Vice President, Land and Assistant Secretary, age 42, assumed
his responsibilities with the Managing General Partner in 1989. Prior to
joining the Managing General Partner, Mr. Tate was employed by C.F.
Lawrence & Associates, Inc., an independent oil and gas company, as Land
Manager from 1981 through 1989. Mr. Tate is a member of the Permian Basin
Landman's Association and received his B.B.S. degree from Hardin-Simmons
University.
R. Douglas Keathley, Vice President, Operations, age 44, assumed his
responsibilities with the Managing General Partner as a Production Engineer
in October, 1992. Prior to joining the Managing General Partner, Mr.
Keathley was employed for four (4) years by ARCO Oil & Gas Company as
senior drilling engineer working in all phases of well production (1988-
1992), eight (8) years by Reading & Bates Petroleum Company as senior
petroleum engineer responsible for drilling (1980-1988) and two (2) years
by Tenneco Oil Company as drilling engineer responsible for all phases of
drilling (1978-1980). Mr. Keathley received his B.S. in Petroleum
Engineering in 1977 from the University of Oklahoma.
<PAGE>
In certain instances, the Managing General Partner will engage professional
petroleum consultants and other independent contractors, including
engineers and geologists in connection with property acquisitions,
geological and geophysical analysis, and reservoir engineering. The
Managing General Partner believes that, in addition to its own "in-house"
staff, the utilization of such consultants and independent contractors in
specific instances and on an "as-needed" basis allows for greater
flexibility and greater opportunity to perform its oil and gas activities
more economically and effectively.
Item 11. Executive Compensation
The Partnership does not have any directors or executive officers. The
executive officers of the Managing General Partner do not receive any cash
compensation, bonuses, deferred compensation or compensation pursuant to
any type of plan, from the Partnership. The Managing General Partner
received $144,000 during 1999, 1998 and 1997 as an annual administrative
fee.
Item 12. Security Ownership of Certain Beneficial Owners and Management
There are no limited partners who own of record, or are known by the
Managing General Partner to beneficially own, more than five percent of the
Partnership's limited partnership interests.
The Managing General Partner owns a nine percent interest as a general
partner. Through repurchase offers to the limited partners, the Managing
General Partner also owns 4,029 limited partner units, a 20.2% limited
partner interest. The Managing General Partners total percentage interest
ownership in the Partnership is 27.1%.
No officer or director of the Managing General Partner owns Units in the
Partnership. H. H. Wommack, III, as the individual general partner of the
Partnership owns a one percent interest in the Partnership as a general
partner. The officers and directors of the Managing General Partner are
considered beneficial owners of the limited partner units acquired by the
Managing General Partner by virtue of their status as such. A list of
beneficial owners of limited partner units, acquired by the Managing
General Partner, is as follows:
<PAGE>
Amount and
Nature of Percent
Name and Address of Beneficial of
Title of Class Beneficial Owner Ownership Class
- ------------------- --------------------------- --------------- -------
Limited Partnership Southwest Royalties, Inc. Directly Owns 20.2%
Interest Managing General Partner
4,029 Units
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership H. H. Wommack, III Indirectly Owns 20.2%
Interest Chairman of the Board,
4,029 Units
President, CEO, Treasurer
and Director of Southwest
Royalties, Inc., the
Managing General Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership H. Allen Corey Indirectly Owns 20.2%
Interest Secretary and Director of
4,029 Units
Southwest Royalties, Inc.,
the Managing General
Partner
633 Chestnut Street
Chattanooga, TN 37450-1800
Limited Partnership Bill E. Coggin Indirectly Owns 20.2%
Interest Vice President and CFO of
4,029 Units
Southwest Royalties, Inc.,
the Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership J. Steven Person Indirectly Owns 20.2%
Interest Vice President, Marketing
4,029 Units
Southwest Royalties, Inc.,
the Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership Paul L. Morris Indirectly Owns 20.2%
Interest Director of Southwest
4,029 Units
Royalties, Inc., the
Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
There are no arrangements known to the Managing General Partner which may
at a subsequent date result in a change of control of the Partnership.
<PAGE>
Item 13. Certain Relationships and Related Transactions
In 1999, the Managing General Partner received $144,000 as an
administrative fee. This amount is part of the general and administrative
expenses incurred by the Partnership.
In some instances the Managing General Partner and certain officers and
employees may be working interest owners in an oil and gas property in
which the Partnership also has a net profits interest. Certain properties
in which the Partnership has an interest are operated by the Managing
General Partner, who was paid approximately $105,400 for administrative
overhead attributable to operating such properties during 1999.
Certain subsidiaries or affiliates of the Managing General Partner perform
various oilfield services for properties in which the Partnership owns an
interest. Such services aggregated approximately $75,500 for the year
ended December 31, 1999.
The law firm of Baker, Donelson, Bearman & Caldwell of which H. Allen
Corey, an officer and director of the Managing General Partner, is a
partner, is counsel to the Partnership. Legal services rendered by Baker,
Donelson, Bearman & Caldwell to the Partnership during 1999 were
approximately $900, which constitutes an immaterial portion of that firm's
business.
In the opinion of management, the terms of the above transactions are
similar to ones with unaffiliated third parties.
<PAGE>
Part IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a)(1) Financial Statements:
Included in Part II of this report --
Independent Auditors Report
Balance Sheets
Statements of Operations
Statement of Changes in Partners' Equity
Statements of Cash Flows
Notes to Financial Statements
(2) Schedules required by Article 12 of Regulation S-
X are either omitted because they are not applicable or
because the required information is shown in the
financial statements or the notes thereto.
(3) Exhibits:
4 (a) Certificate and Agreement of
Limited Partnership of Southwest Royalties, Inc.
Income Fund VI, dated December 4, 1986.
(Incorporated by reference from Partnership's
Form 10-K for the fiscal year ended December 31,
1986.)
(b) First Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated January 16,1987. (Incorporated by
reference from Partnership's Form 10-K for the
fiscal year ended December 31, 1987.)
(c) Corrected Second Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated May 6, 1987. (Incorporated by reference
from Partnership's Form 10-K for the fiscal year
ended December 31, 1987.)
(d) Third Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated February 3, 1988 (Incorporated by reference
from Partnership's Form 10-K for the fiscal year
ended December 31, 1988.)
(e) Fourth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated June 30, 1988 (Incorporated by reference
from Partnership's Form 10-K for the fiscal year
ended December 31, 1988.)
<PAGE>
(f) Fifth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated December 30, 1988 (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1988.)
(g) Sixth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of March 19, 1990. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1990.)
(h) Seventh Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of December 31, 1990. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1990.)
(i) Eighth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of September 30, 1991. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1991.)
(j) Ninth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of December 31, 1991. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
(k) Tenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of March 31, 1992. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
(l) Eleventh Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of June 30, 1992. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
(m) Twelfth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of November 23, 1992. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
<PAGE>
(n) Thirteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of April 22, 1993. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1993.)
(o) Fourteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of September 30, 1993. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1993.)
(p) Fifteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of December 31, 1993. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1993.)
(q) Sixteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of July 26, 1994. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1994.)
(r) Seventeenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of January 18, 1995. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1994.)
(s) Eighteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of July 26, 1995.
(t) Nineteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of January 29, 1996.
<PAGE>
(u) Twentieth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of April 30, 1996.
(v) Twenty First Amendment to Certificate and Agreement of
Limited Partnership of Southwest Royalties, Inc.
Income Fund VI, dated as of September 30, 1996.
(w) Twenty Second Amendment to Certificate and
Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI, dated as of
January 15, 1997.
(x) Twenty Third Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of May 10, 1997.
(y) Twenty Fourth Amendment to Certificate and
Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI, dated as of
January 30, 1998.
(z) Twenty Fifth Amendment to Certificate and
Agreement of
Limited Partnership of Southwest Royalties, Inc.
Income Fund VI, dated as of July 27, 1998.
(aa) Twenty Sixth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of December 22, 1998.
(bb) Twenty Seventh Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of February 25, 1999.
(cc) Twenty Eighth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of July 27, 1999.
27 Financial Data Schedule
99 Limited Partners as of February 25, 1999
Limited Partners as of July 27, 1999
(b) Reports on Form 8-K
There were no reports filed on Form 8-K during the
quarter ended December 31, 1999.
<PAGE>
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Partnership has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Southwest Royalties, Inc. Income Fund VI, a
Tennessee limited partnership
By: Southwest Royalties, Inc., Managing
General Partner
By: /s/ H. H. Wommack, III
-----------------------------
H. H. Wommack, III, President
Date: March 31, 2000
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
Partnership and in the capacities and on the dates indicated.
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, Chairman of the
Board, President, Chief Executive
Officer, Treasurer and Director
Date: March 31, 2000
By: /s/ H. Allen Corey
-----------------------------
H. Allen Corey, Secretary and
Director
Date: March 31, 2000
<PAGE>
Exhibit Index
Item No. Description Page No.
14(a)(3) Exhibit 4(bb): Twenty Seventh Amendment to Certificate
46
and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI, dated as of
February 25, 1999.
Exhibit 4 (cc): Twenty Eighth Amendment to Certificate 48
and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI, dated as of
July 27, 1999.
<PAGE>
This Instrument Prepared By:
J. Porter Durham, Jr.
Baker, Donelson, Bearman & Caldwell
1800 Republic Centre
633 Chestnut Street
Chattanooga, Tennessee 37450-1800
TWENTY-SEVENTH AMENDMENT TO CERTIFICATE AND AGREEMENT OF
LIMITED PARTNERSHIP OF SOUTHWEST ROYALTIES, INC.
INCOME FUND VI, A TENNESSEE LIMITED PARTNERSHIP
Pursuant to the Tennessee Revised Uniform Limited Partnership Act, 62-2-
1204 of the Tennessee Code Annotated, and the provisions of the Tennessee
Uniform Limited Partnership Act, being formerly 61-2-101, et seq. of the
Tennessee Code Annotated, this Twenty-seventh Amendment (the "Amendment")
to the Certificate and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI is executed to be effective as of the 31st
day of December, 1998, by and between H. H. WOMMACK, III, an individual
("General Partner"), SOUTHWEST ROYALTIES, INC. ("Managing General Partner")
(the Managing General Partner and the General Partner, are hereinafter
collectively referred to as "General Partners"), and the General Partners
as attorney-in-fact for those persons and entities listed on Schedule 1
attached to this Amendment, whether existing or additional limited partners
(collectively the "Limited Partners") and as attorney-in-fact for the
Withdrawing Limited Partners, as defined hereinafter.
WHEREAS, Southwest Royalties, Inc. Income Fund VI was organized as a
Tennessee limited partnership pursuant to an Agreement of Limited
Partnership, as amended from time to time, dated December 4, 1986 and
recorded in Book 3280, Page 726 in the Register's Office of Hamilton
County, Tennessee (the "Agreement"); and
WHEREAS, the General Partners, Limited Partners and Withdrawing Limited
Partners desire to amend the Agreement in the manner set forth herein;
NOW, THEREFORE, for and in consideration of the mutual rights and
obligations herein and other good and valuable consideration the receipt
and legal sufficiency of which are acknowledged, the parties hereto agree
as follows:
1. Schedule 1 to the Agreement is hereby deleted in its entirety and
replaced by the Schedule 1 attached hereto. Those persons and
entities which were formerly listed on Schedule 1 to the Agreement but
which are not listed on the revised Schedule 1 attached hereto shall
be defined collectively as the "Withdrawing Limited Partners."
2. Except as provided herein, the Agreement is hereby constituted and
acknowledged as the controlling Agreement of Southwest Royalties, Inc.
Income Fund VI.
<PAGE>
IN WITNESS WHEREOF, the parties hereto acknowledge that they have executed
this Amendment to the Agreement to be effective as of the date first above
written.
GENERAL PARTNERS:
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, General Partner
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, President
LIMITED PARTNERS:
By: General Partners, as attorneys-in-fact
for the Limited Partners listed on Schedule 1 attached
hereto and those Withdrawing Limited Partners removed
from Schedule 1 under Powers of Attorney previously
granted
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
STATE OF TENNESSEE )
COUNTY OF HAMILTON )
Before me, /s/ Suetta M. Morgan, a Notary Public in and for the State and
County aforesaid, personally appeared H.H. Wommack, III, with whom I am
personally acquainted (or proved to me on the basis of satisfactory
evidence), and who, upon oath, acknowledged himself to be the attorney-in-
fact for the admitted and withdrawing Limited Partners and as president of
Southwest Royalties, Inc. for itself and as attorney-in-fact for the
admitted and withdrawing Limited Partners, and who further acknowledged
that he is authorized by Southwest Royalties, Inc., the Limited Partners
and the Withdrawing Limited Partners to execute this document on its and
their behalf.
Witness my hand and seal at office, on this the 25th day of February 25,
1999.
/s/ Suetta M. Morgan
-----------------------------------
Notary Public
<PAGE>
This Instrument Prepared By:
J. Porter Durham, Jr.
Baker, Donelson, Bearman & Caldwell
1800 Republic Centre
633 Chestnut Street
Chattanooga, Tennessee 37450-1800
TWENTY-EIGHTH AMENDMENT TO CERTIFICATE AND AGREEMENT OF
LIMITED PARTNERSHIP OF SOUTHWEST ROYALTIES, INC.
INCOME FUND VI, A TENNESSEE LIMITED PARTNERSHIP
Pursuant to the Tennessee Revised Uniform Limited Partnership Act, 62-2-
1204 of the Tennessee Code Annotated, and the provisions of the Tennessee
Uniform Limited Partnership Act, being formerly 61-2-101, et seq. of the
Tennessee Code Annotated, this Twenty-eighth Amendment (the "Amendment") to
the Certificate and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI is executed to be effective as of the 27th
day of July, 1999, by and between H. H. WOMMACK, III, an individual
("General Partner"), SOUTHWEST ROYALTIES, INC. ("Managing General Partner")
(the Managing General Partner and the General Partner, are hereinafter
collectively referred to as "General Partners"), and the General Partners
as attorney-in-fact for those persons and entities listed on Schedule 1
attached to this Amendment, whether existing or additional limited partners
(collectively the "Limited Partners") and as attorney-in-fact for the
Withdrawing Limited Partners, as defined hereinafter.
WHEREAS, Southwest Royalties, Inc. Income Fund VI was organized as a
Tennessee limited partnership pursuant to an Agreement of Limited
Partnership, as amended from time to time, dated December 4, 1986 and
recorded in Book 3280, Page 726 in the Register's Office of Hamilton
County, Tennessee (the "Agreement"); and
WHEREAS, the General Partners, Limited Partners and Withdrawing Limited
Partners desire to amend the Agreement in the manner set forth herein;
NOW, THEREFORE, for and in consideration of the mutual rights and
obligations herein and other good and valuable consideration the receipt
and legal sufficiency of which are acknowledged, the parties hereto agree
as follows:
1. Schedule 1 to the Agreement is hereby deleted in its entirety and
replaced by the Schedule 1 attached hereto. Those persons and
entities which were formerly listed on Schedule 1 to the Agreement but
which are not listed on the revised Schedule 1 attached hereto shall
be defined collectively as the "Withdrawing Limited Partners."
2. Except as provided herein, the Agreement is hereby constituted and
acknowledged as the controlling Agreement of Southwest Royalties, Inc.
Income Fund VI.
<PAGE>
IN WITNESS WHEREOF, the parties hereto acknowledge that they have executed
this Amendment to the Agreement to be effective as of the date first above
written.
GENERAL PARTNERS:
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, General Partner
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, President
LIMITED PARTNERS:
By: General Partners, as attorneys-in-fact
for the Limited Partners listed on Schedule 1 attached
hereto and those Withdrawing Limited Partners removed
from Schedule 1 under Powers of Attorney previously
granted
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
STATE OF Texas )
COUNTY OF Midland )
Before me, /s/ Paula Dillard, a Notary Public in and for the State and
County aforesaid, personally appeared H.H. Wommack, III, with whom I am
personally acquainted (or proved to me on the basis of satisfactory
evidence), and who, upon oath, acknowledged himself to be the attorney-in-
fact for the admitted and withdrawing Limited Partners, and as president of
Southwest Royalties, Inc. for itself and as attorney-in-fact for the
admitted and withdrawing Limited Partners, who further acknowledged that he
is authorized by Southwest Royalties, Inc., the Limited Partners and the
Withdrawing Limited Partners to execute this document on its and their
behalf.
Witness my hand and seal at office, on this the 27th day of July, 1999.
/s/ Paula Dillard
-----------------------------------
Notary Public
<PAGE>
AMENDMENTS FOLLOW AS EX-99
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Balance Sheet at December 31, 1999 and the Statement of Operations for the
Year Ended December 31, 1999 and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<CASH> 181,112
<SECURITIES> 0
<RECEIVABLES> 173,306
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 354,418
<PP&E> 8,426,634
<DEPRECIATION> 6,579,000
<TOTAL-ASSETS> 2,202,052
<CURRENT-LIABILITIES> 1,317
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 2,200,735
<TOTAL-LIABILITY-AND-EQUITY> 2,202,052
<SALES> 823,002
<TOTAL-REVENUES> 830,452
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 306,589
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 523,863
<INCOME-TAX> 0
<INCOME-CONTINUING> 523,863
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 523,863
<EPS-BASIC> 23.57
<EPS-DILUTED> 23.57
</TABLE>
RUN DATE: Tuesday February 29, 2000 8:16 AM PAGE 1
SWR INCOME FUND VI
I N V E S T O R L I S T I N G B Y P A R T N E R S H I P
As of 01/23/1999 For Investors: ALL
-------INVESTOR---------------------- UNITS INVESTMENT
NUMBER NAME/ADDRESS BOUGHT AMOUNT
AD115 Steve A. Adams IRA 4.0000 2,000.00
4520 Forest Peak Circle
Marietta, GA 30066
AD143 Reba C. Adams 10.0000 5,000.00
231 Hubbell Street
Edgewater, FL 32132
AD761 Milan V. Adrian Profit Sharing 10.0000 5,000.00
Plan & Trust
2665 Orrington Avenue
Evanston, IL 60201
AI958 Henry & Susan Aivaler 20.0000 10,000.00
118 Medical Drive
Carmel, IN 46032-2923
AL219 Marcia K. Carroll 20.0000 10,000.00
R.R. 1
Graymont, IL 61743-9801
AL21E G. R. Albertson IRA 20.0000 10,000.00
4000 Fairwood
Midland, TX 79707
AL57G Edward Wyatt Allen IRA 10.0000 5,000.00
6771 Penneywell Drive
Nashville, TN 37205
AL580 Edward W. Allen Jr. 5.0000 2,500.00
6771 Pennywell Dr.
Nashville, TN 37205
AL746 Phillip S. Alpert 10.0000 5,000.00
4060 Santa Nella Place
San Diego, CA 92130
AL816 Debra Althouse IRA 4.0000 2,000.00
2856 Calle Guadalajara
San Clemente, CA 92673-3519
AM224 Erlinda B. Corpuz - Ambrosia 6.0000 3,000.00
as C/F Ruth Elaine Ambrosia
300 Hospital Dr.
Spencer, WV 25276
AM990 Heidi K. Fleming 10.0000 5,000.00
<PAGE>
5864 Spur Avenue
Oceanside, CA 92057-5713
AN26F B. Betty Anderson Trustee 14.0000 7,000.00
of the B. Betty Anderson
Revocable Trust dated 9-20-94
826 Live Oak Lane
Oviedo, FL 32765
AN271 James L. Andrews IRA 20.0000 10,000.00
10311 SE 228th St.
Kent, WA 98031
AN394 Leo Angel IRA 15.0000 7,500.00
11734 Old Eureka Way
Gold River, CA 95670-8354
AN396 Angel, Hogan, Roberts & Berrin 45.0000 22,500.00
Employees Profit Sharing Plan
2386 Fair Oaks Blvd, Ste. 102
Sacramento, CA 95825
AN398 Angel, Hogan, Roberts & Berrin 20.0000 10,000.00
Profit Sharing Plan
Judson R. Roberts TTEE
2386 Fair Oaks Blvd., Ste. 102
Sacramento, CA 95825
AN630 The Anoka Family Trust dated 20.0000 10,000.00
7/14/95, John Anoka & Dorothy
L. Anoka Trustees
1705 East Horatio Avenue
Maitland, FL 32751
AP732 Robert W. Applegate IRA 16.0000 8,000.00
1627 Buckman Springs Road
Campo, CA 91906
AR593 Kay W. Armstrong 50.0000 25,000.00
119 Fleetwood Drive
Lookout Mtn, TN 37350
AR593 Kay W. Armstrong 50.0000 25,000.00
119 Fleetwood Drive
Lookout Mtn, TN 37350
AR626 David H. Arnold M.D., PC 8.0000 4,000.00
1203 W. Maple Avenue
Geneva, AL 36340
AS419 Raymond & Elizabeth Ashley 50.0000 25,000.00
5009 Rio Vista Drive
Granbury, TX 76049-5173
AS638 Susan Asowitch Trustee of the 10.0000 5,000.00
Susan Asowitch Declaration of
Trust dated 5/13/93
<PAGE>
724 North Rainbow Drive
Hollywood, FL 33021
AT530 Melissa W. Atkinson IRA 5.0000 2,500.00
6239 Forest Trail
Signal Mountain, TN 37377
AT531 Joseph S. Atkinson IRA 5.0000 2,500.00
6239 Forest Train
Signal Mountain, TN 37377
AU575 David E. Ault IRA 30.0000 15,000.00
1708 Nesbit Road
Nesbit, MS 38651
AU813 Anthony Autunno IRA 5.0000 2,500.00
2345 Leeward Shore Drive
Virginia Beach, VA 23451
AY272 Darryl L. Ayers IRA 20.0000 10,000.00
255 N. Lakemont Avenue
Winter Park, FL 32789
BA021 BBB Investments 50.0000 25,000.00
2508 Old Oaks
Waco, TX 76710
BA235 Sylvia Bacote 10.0000 5,000.00
161 Dupre Avenue
Norfolk, VA 23503
BA542 John A. Baker 20.0000 10,000.00
1021 Carob Lane
Norco, CA 91760-1403
BA542 John A. Baker 20.0000 10,000.00
1021 Carob Lane
Norco, CA 91760-1403
BA561 Michelle I. Baka, M.D. 10.0000 5,000.00
31950 Oak Ridge Pkwy
Bulverde, TX 78163
BA57J Sharon L. Baldwin IRA 4.0000 2,000.00
7339 S. Endora Court
Littleton, CO 80122
BA57K Robert C. Baldwin IRA 4.0000 2,000.00
7339 S. Endora Court
Littleton, CO 80122
BA597 Anthony J. Balestrieri 40.0000 20,000.00
Revocable Trust
Anthony J. Balestrieri Trustee
3609 Grayton Drive
New Port Richey, FL 34652
BA618 Sam L. Banks 20.0000 10,000.00
<PAGE>
300 Windmere Dr.
Chattanooga, TN 37411
BA764 Donna Jean Barber, Trustee 6.0000 3,000.00
FBO Donna Barber Trust
u/a/d 7/10/85
17335 Rosa Lee Way
North
Redington Beach, FL 33708
BA779 Helen Barrios IRA 5.0000 2,500.00
12045 King Road
Roswell, GA 30075-1446
BA786 Lillie Baros IRA 10.0000 5,000.00
1704 Algee Drive
Port Lavaca, TX 77979
BA789 William H. Barrett 40.0000 20,000.00
8918 1/2 Dolly Madison Dr. SW
Tacoma, WA 98498-2510
BA78A Art Barrett 40.0000 20,000.00
9002 Dolly Madison SW
Lakewood, WA 98498
BA811 Beverly K. Batchelor IRA 6.0000 3,000.00
24 Northampton
Huntsville, AL 35801-2844
BA81H Boyd C. Batchelor IRA 8.0000 4,000.00
24 Northampton
Huntsville, AL 35801
BA826 W.Bryson Bateman, Jr. MD PA 20.0000 10,000.00
Profit Sharing Trust
309 Walnut Creek Drive
Goldsboro, NC 27530
BA982 Lokesk K. Bazaz IRA 8.0000 4,000.00
1011 Eaton Drive
McLean, VA 22102
BE113 Laiah H. Beane & Linda B. Hunt 20.0000 10,000.00
4962 Rex Rd.
Winston Salem, NC 27107
BE116 David L. Beaudin IRA 4.0000 2,000.00
1417 Roy Road
Bellingham, WA 98226
BE179 Christopher C. Beaudin IRA 4.0000 2,000.00
4217 S. 22nd Road
South Range, WI 54874-8828
BE576 Lamoine & Dorris Beldon 6.0000 3,000.00
7518 Sun Faire Lane
<PAGE>
Sacramento, CA 95828
BE768 Jerry W. Bergsma IRA 6.0000 3,000.00
9431 White Pine
Zeeland, MI 49464
BE769 Craig P. Berg 12.0000 6,000.00
5522 - 38th Avenue NE
Seattle, WA 98105-2204
BE76C Terry L. Berryhill IRA 4.0000 2,000.00
871 Todd Lane
Arroyo Grande, CA 93420
BE76Z Robin Berrin IRA 8.0000 4,000.00
6305 Van ALstine Avenue
Carmichael, CA 95608
BE77A Timothy A. Berg IRA 5.0000 2,500.00
2508 111th Avenue SE
Bellevue, WA 98004-7300
BI296 Sandra J. Biermeier 40.0000 20,000.00
8340 Julianne Terrace
Golden Valley, MN 55427
BI798 Harry R. Bissinger, Jr. IRA 4.0000 2,000.00
5174 LuPine Lane
Acworth, GA 30101-6964
BI814 Donald & Florence Bittle, 10.0000 5,000.00
Trustees FBO The Bittle Trust
u/a/d 2-28-95
621 Valley View Drive
Henderson, NV 89015
BL102 William N. Black Estate 10.0000 5,000.00
c/o Kimberly Mckee
11517 Hesperian Circle
Gold River, CA 95670
BL104 Black Diamond Blade Co. 100.0000 50,000.00
FBO Franklin Brenner, Trustee
234 East "O" Street
Colton, CA 92324
BL129 Patricia Black 10.0000 5,000.00
16622 Cleary Circle
Dallas, TX 75248
BL432 Fred H. Bliss 10.0000 5,000.00
3393 Bristol Lane
Cuyahoga Falls, OH 44223
BL587 William Blount IRA 30.0000 15,000.00
528 N. 7th Street
Chariton, IA 50049-1436
<PAGE>
BO272 Eleanor I. Boe 30.0000 15,000.00
1509 Sandpiper
Palm Desert, CA 92260
BO278 John C. Boersema 8.0000 4,000.00
2460 Lakeshore Drive
Holland, MI 49424
BO407 Michael P. Bogomolny 20.0000 10,000.00
5252 Crofton Avenue
Solon, OH 44139
BO415 Jules Bohnn IRA 200.0000 100,000.00
1215 Barkdull Street
Houston, TX 77006
BO417 Joel E. Bohlmann 14.0000 7,000.00
1516 Trouville Avenue
Norfolk, VA 23505
BO480 Worth W. & Nancy Boisture 20.0000 10,000.00
36 Kershaw Drive
Bluffton, SC 29910
BO633 Robert & Sandra Boothe 20.0000 10,000.00
205 Wildwood Trace
Hattiesburg, MS 39402
BO763 John T. Borowski, M.D. SEP-IRA 34.0000 17,000.00
9715 Lantana
San Antonio, TX 78217
BO773 Douglas L. & Robin Borgen 8.0000 4,000.00
17411 Snohomish Ave.
Snohomish, WA 98290
BO79B Karen L. Boswood IRA 4.0000 2,000.00
2710 Salmon Court
North Pole, AK 99705-7308
BO79C James K. Boswood IRA 4.0000 2,000.00
2710 Salmon Court
North Pole, AK 99705-7308
BO803 Carolann Bossert Trustee 6.0000 3,000.00
FBO Bossert 1986 Trust
2714 Bridgepointe Drive
Las Vegas, NV 89121
BO861 Tania K. Boucher Trust 31.0000 15,500.00
P. O. Box 188
Mendenhall, PA 19357
BO961 Russell Bowen 8.0000 4,000.00
custodian for Sarah Bowen
28 Little Acres Road
<PAGE>
Glastonbry, CT 06033
BO997 David William Boyer IRA 8.0000 4,000.00
12020 149th St. E.
Puyallup, WA 98374-3446
BR101 Daniel L. Brackeen 60.0000 30,000.00
410 Park Ridge
Grand Prairie, TX 75051
BR104 Robert Branberg 10.0000 5,000.00
732 N. 77th Street
Seattle, WA 98103
BR11L Arlene Brandeis IRA 5.0000 2,500.00
132 Beechmont
Pittsburgh, PA 15206
BR186 Donna L. Brower IRA 4.0000 2,000.00
3901 East South Street
Jackson, MI 49201
BR187 Lester Brower IRA 4.0000 2,000.00
3901 East South Street
Jackson, MI 49201
BR278 Kenneth B. Breese IRA 20.0000 10,000.00
1375 Heather Dr.
Holland, MI 49423
BR27B Gerard J. Brett IRA 9.0000 4,500.00
8868 Eatonwick Fairway
Cordova, TN 38018
BR300 Franklin J. Brenner 200.0000 100,000.00
743 Miramar
Fullerton, CA 92631
BR369 Thomas E. Brewington Jr MD PSP 12.0000 6,000.00
807 Summit Avenue
Greensboro, NC 27405
BR370 Dr. Thomas E. Brewington, Jr. 8.0000 4,000.00
2601 Wilpar Drive
Greensboro, NC 27406
BR446 Horace & Joanne Bridges 20.0000 10,000.00
309 Garland Place
Enumclaw, WA 98022
BR543 Gerald M. & Wilma J. Baker 6.0000 3,000.00
P. O. Box 751
Pismo Beach, CA 93449
BR63D Charles Brodie 10.0000 5,000.00
1150-F N. Red Gum Street
Anaheim, CA 92806
<PAGE>
BR64V Margaret L. Brodek Trustee 6.0000 3,000.00
Brodek Trust dated 9-25-85,
Sub-Trust A
10146 Babbitt Avenue
Northridge, CA 91325
BR653 Thomas O. Brown IRA 62.0000 31,000.00
4430 Shady Hill
Dallas, TX 75229
BR65B James F. Brown Revocable Trust 20.0000 10,000.00
u/a/d 2/6/97, James F. Brown,
Trustee
135 Little River Road
Hampton, NH 03842
BR664 John J. & Gerolynn Brooks 10.0000 5,000.00
265 Stacy Dr.
Soldotna, AK 99669
BR686 Robert S. Brown 10.0000 5,000.00
1668 Highfield Lane
Brentwood, TN 37027
BR693 Carlton & Lorraine Brouwer 20.0000 10,000.00
4690 120th Ave
Holland, MI 49424
BR693 Carlton & Lorraine Brouwer 20.0000 10,000.00
4690 120th Ave
Holland, MI 49424
BR703 Paul F. Brown IRA 30.0000 15,000.00
1822 Acorn Circle
Ogden, UT 84403-3202
BR705 Warren & Diane Brown 10.0000 5,000.00
34 Plant Avenue
Hudson, MA 01749
BR798 Debbie Peterson Brumfield IRA 5.0000 2,500.00
7315 141 Avenue N.E.
Redmond, WA 98052-4123
BR861 Atys & Sara Brunson Trustees 100.0000 50,000.00
FBO Atys D. Brunson Jr. & Sara
E Brunson Charitable Remainder
Trust dated 09/04/86
1747 St. Tropez Court
Kissimmee, FL 34744
BR989 Roland Bryson 30.0000 15,000.00
174 Rockford Rd.
Kernersville, NC 27284
BU23E Shirley Cheng Buchanan IRA 6.0000 3,000.00
<PAGE>
23721 Monument Canyon Drive
Diamond Bar, CA 91765-2361
BU23N Fern Buchler IRA 5.0000 2,500.00
3008 Cindy Drive
Racine, WI 53404-1206
BU392 Barrie Aldern Bugbee 6.0000 3,000.00
22066 Caminto Amor
Laguna Hills, CA 92613
BU463 Tracey L. Buikema TR 10.0000 5,000.00
Cheryl L. Adams Custodian
10564 60th Avenue
Allendale, MI 49401
BU768 James S. & Patricia Burgbacher 16.0000 8,000.00
4013 Pittwood Road
Danville, VA 24540-5230
BU775 Lawrence S. Burne IRA 4.0000 2,000.00
2051 Shoreline Drive Apt 207
Alameda, CA 94501-6113
BU77F Alfredo J. Burlando & Rose M. 20.0000 10,000.00
Burlando Revocable Living
Trust
3604 Azell Road
Carmichael, CA 95608
BU79A Judy Buschena Living Trust 20.0000 10,000.00
u/a/d 10/01/96
Judy Buschena, Trustee
7195 159th Street W.
Apple Valley, MN 55124-5132
BU829 Jason T. & Kathryn Butler 6.0000 3,000.00
1924 S. Salem Drive
Anchorage, AK 99508
CA213 Corrine A. Cabell IRA 4.0000 2,000.00
70 Elberta Drive
Sedona, AZ 86336-3536
CA224 Steven H. Crabtree IRA 4.0000 2,000.00
9949 Ledgeside Street
Spring Valley, CA 92078
CA421 Charlotte T. Cahill 50.0000 25,000.00
12651 Seminole Blvd. Lot 24F
Largo, FL 33778
CA483 Arnold & Naomi Cain 30.0000 15,000.00
9664 Cavendish Court
New Port Richey, FL 34655
CA578 The Caldwell Family Trust 12.0000 6,000.00
<PAGE>
7800 Saranac Ct.
Orlando, FL 32835
CA5AF Catherine Campbell IRA 6.0000 3,000.00
3509 SW 12th Place
Des Moines, IA 50315
CA606 Gene Campana IRA 4.0000 2,000.00
18261 Oak Ridge Drive
Santa ANa, CA 92705-2021
CA731 Katherine D. Cappadona 10.0000 5,000.00
68 Erie Avenue
Newton, MA 02161
CA762 Betty M. Carpenter IRA 8.0000 4,000.00
13236 Trail Hollow
Houston, TX 77079
CA771 Casey L. Carlson IRA 6.0000 3,000.00
6621 Cornelia Drive
Edina, MN 55435
CA782 F. Edwin Carpenter IRA 14.0000 7,000.00
13236 Trail Hollow
Houston, TX 77079
CA796 Paul C Casperson Retirement TR 45.0000 22,500.00
Paul C. Casperson, Trustee
3460 Tucker Ranch Road
Wilson, WY 83014
CA798 R. Richard Casto 20.0000 10,000.00
19990 Ibis Court
Dunnellon, FL 34432
CH11L Eddie G. Chandler IRA 30.0000 15,000.00
1159 Aurora Court
Dunwoody, GA 30338
CH129 David S. Chatterton IRA 24.0000 12,000.00
3809 Glenhurst Avenue
St. Louis Park, MN 55416
CH177 Sharath Chandra 20.0000 10,000.00
C. Chandra Custodian
4134 Hamill Road
Hixon, TN 37343
CH27N Peter Pai-Tsum Chen IRA 4.0000 2,000.00
P. O. Box 3444
Alhambra, CA 91803
CH466 Ronald M. Childree 6.0000 3,000.00
10310 NW 11th Street
Plantation, FL 33322
CL11R Wesley R. Clark IRA 4.0000 2,000.00
<PAGE>
Route 1
Holton, KS 66436
CL125 Louis A. Claassen 10.0000 5,000.00
15009 Timber Lake Circle
Wichita, KS 67230
CL12C Phyllis W. Clarke IRA 8.0000 4,000.00
5101 Horseshoe Place NE
St. Petersburg, FL 33703
CL178 Michael S. Clark IRA 5.0000 2,500.00
704 East Drive
Memphis, TN 38112-1711
CL187 William H. Clark IRA 8.0000 4,000.00
P. O. Box 6124
Carefree, AZ 85377-6124
CL189 Lyle G. Clarke IRA 5.0000 2,500.00
3475 Cemetary Rd.
Cass City, MI 48726
CL190 Clara Jean Clarke IRA 5.0000 2,500.00
3475 Cemetary Rd.
Cass City, MI 48726
CO424 Marvin & Rose Cohn TTEES under 20.0000 10,000.00
the Marvin & Rose Cohn
Revocable Trust Agreement
dtd 6/2/87
4662 Fountain Drive
Lake Worth, FL 33467-5064
CO426 Morris Cohen IRA 4.0000 2,000.00
7907 Forrestal Road
San Diego, CA 92120
CO572 Marjorie Cole Wallace 8.0000 4,000.00
4105 Runnymede Drive
Lilburn, GA 30247-3370
CO574 William R. Cole, Jr. 20.0000 10,000.00
215 Burns Road
Shelbyville, TN 37160
CO57S Bruce D. Cole IRA 15.0000 7,500.00
5240 Franklin Pike
Brentwood, TN 37027
CO604 Jesse L. & Margaret Coltrane 30.0000 15,000.00
920 W. Vandalia Road
Greensboro, NC 27406
CO606 Bartholomew & Kathryn Comstock 40.0000 20,000.00
36017 Allen Avenue
Livonia, MI 48154-5225
<PAGE>
CO613 Shirley S. Conkwright 6.0000 3,000.00
7930 Driscoll Ave.
Van Nuys, CA 91406
CO621 Jack V Conway & Gail G Conway 40.0000 20,000.00
Trustees of the Conway Trust
Dated January 25, 1988
11786-A Moorpark
Studio City, CA 91604
CO62J Anita E. Conlon Living Trust, 40.0000 20,000.00
u/a/d 12/5/96, Anita E. Conlon
& Richard D. Conlon, Trustee
6031 Thomas Avenue South
Minneapolis, MN 55410
CO631 Patricia A. Cook 20.0000 10,000.00
25408 Via Escalara
Valencia, CA 91355
CO633 Scott & Debra Cooper 10.0000 5,000.00
380 Watercrest Ct.
Holland, MI 49424
CO63Y George W. Cooper 10.0000 5,000.00
805 Saint Lo
Lufkin, TX 75901
CO677 Timothy S. Cook 10.0000 5,000.00
272 Elemeda Street
Holland, MI 49424
CO747 William & Frieda Cope 10.0000 5,000.00
1333 Shelbourne Dr.
Bethlehem, PA 18018
CO764 Stephen W. & Joan P. Cornell 20.0000 10,000.00
1422 Washington St.
Key West, FL 33040
CO799 Elizabeth A. Howard IRA 5.0000 2,500.00
5718 S. Kenton Street
Englewood, CO 80111
CR11J Charles W. Cramer Gen. Partner 20.0000 10,000.00
The Cramer Separate Property
Limited Partnership 5-31-94
2115 Cross Creek
Arlington, TX 76017
CR722 David A. Crowell 30.0000 15,000.00
RR7 Box 5655
Farmingdale, ME 04344-9208
CU279 Alex Joseph Cuesta Jr. 20.0000 10,000.00
4411 NW 74 Ave
<PAGE>
Lauderhill, FL 33319
CU771 Peter B. and/or Pamela Currie 6.0000 3,000.00
7908 Mayapple Place
Raleigh, NC 27613-4078
DA210 Mousa I. Dababnah 10.0000 5,000.00
P. O. Box 247
Beaver, WV 25813
DA533 Theodore Dake Jr. IRA 14.0000 7,000.00
4207 James Casey
Austin, TX 78745-3362
DA585 James & Catherine Daly Trustee 10.0000 5,000.00
FBO James & Catherine Daly TR
U/A/D 8/27/85
2700 Bayshore Blvd. #9402
Dunedin, FL 34698
DA61B Connie Dantinne 100.0000 50,000.00
P. O. Box 194
Conestoga, PA 17516
DA626 John A. Dantinne 50.0000 25,000.00
252 Willow Valley Drive
Lancaster, PA 17602
DA769 Dominic Darpino 40.0000 20,000.00
5561 N.E. 28th Ave.
Ft. Lauderdale, FL 33308
DA791 Jilleen S. Dasher IRA 4.0000 2,000.00
2025 Zoar Road
Baxley, GA 31513-3293
DA96V Robert C. Davis M.D. IRA 20.0000 10,000.00
745 Clark Avenue
Cookeville, TN 37201
DA994 Stephanie K. Day IRA 4.0000 2,000.00
16 Rock Bluff Rd.
Pomona, CA 91766
DE572 Raymond W. Dell IRA 4.0000 2,000.00
Box 6591
Ketchikan, AK 99901
DE620 Deborah A. Dennehey 6.0000 3,000.00
600 Surf
Lewisville, TX 75067
DE820 David A. & Marie DeSordi 10.0000 5,000.00
616 Vance Drive
Bristol, TN 37620
DE954 Resources Trust Co. 4.0000 2,000.00
<PAGE>
FBO Gloria DeVore IRA
# I ###-##-####
P. O. Box 5900
Denver, CO 80217-5900
DE964 Samuel C. DeWeese IRA 4.0000 2,000.00
P. O. Box 16
Yorba Linda, CA 92686
DE965 Mae B. DeWeese IRA 6.0000 3,000.00
P. O. Box 16
Yorba Linda, CA 92686
DI284 Tommy D. Diehl 15.0000 7,500.00
820 Woodland Avenue
LaVale, MD 21502
DI577 John D. Dilts 1.5000 750.00
P. O. Box 38
Forest Dale, VT 05745
DI578 G. Robert Dilts 1.5000 750.00
768 Co. Rt. 85
Oswego, NY 13126
DI579 Mark W. Dilts 1.5000 750.00
98 Rose Street
Phillipsburg, NJ 08865
DI766 Angela Di Rubba 20.0000 10,000.00
P. O. Box 175
Patterson, NY 12563
DO286 William H. Doering 20.0000 10,000.00
P. O. Box 203
Boulder, WY 82923
DO578 Roveri & Rose M. Dolfi 10.0000 5,000.00
3916 Lake Sarah Dr.
Orlando, FL 32804
DO633 Anna Lisa Doodeheefuer IRA 4.0000 2,000.00
3826 Durness
Houston, TX 77025
DO76C Evelyn Dorn 15.0000 7,500.00
555 Butternut
Holland, MI 49424
DO774 Oliver or Alma Dorn 10.0000 5,000.00
75 Old Mill Drive Unit #9
Holland, MI 49423
DO871 Thomas George Douglas IRA 50.0000 25,000.00
140 Spring Cove Tr.
Altamonte Sprng, FL 32714
DO969 Chester L. & Joan Dow 6.0000 3,000.00
<PAGE>
11600 Cedar Walk Drive
St. Louis, MO 63146-4260
DR11B Emma L. Drager 10.0000 5,000.00
3082 "C" Via Serena South
Laguna Hills, CA 92653-2583
DR11H Virginia Drake 20.0000 10,000.00
19978 Roosevelt Road
South Bend, IN 46614
DR130 Jerome S. Siegel, M.D., P.C. 40.0000 20,000.00
Profit Sharing Plan & Trust
6025 Walnut Grove Road #607
Memphis, TN 38120
DR133 Myrna Drake IRA 5.0000 2,500.00
1303 Calais
Memphis, TN 38119
DR281 Rodger & Doris Dreiling 6.0000 3,000.00
203 Blue Spruce
Hutchinson, KS 67502
DR883 Edward M. & Karen L. Drury 50.0000 25,000.00
1400 E. Campbell
Campbell, CA 95008
DU261 Emily A. Dudley IRA 10.0000 5,000.00
16720 Darnestown Road
Boyds, MD 20841
DU492 Edgardo B. Dujon M.D. IRA 40.0000 20,000.00
52 Sunnygrove
Odessa, TX 79761-2229
DU492 Edgardo B. Dujon M.D. IRA 20.0000 10,000.00
52 Sunnygrove
Odessa, TX 79761-2229
DU541 Edward J. & Cheryl Duke 20.0000 10,000.00
2797 Muskegon Way
West Palm Beach, FL 33411-5779
DU577 Michael Dull 30.0000 15,000.00
26 Summit Avenue
Somerville, MA 02143-1817
DU777 Ronald & Elizabet Durst 12.0000 6,000.00
5509 Southlands Court
Woodstock, GA 30188
DY545 Edward C. Dykema IRA 10.0000 5,000.00
2553 Meadow Drive
Zeeland, MI 49464
EA764 Carole K. Early M.D. IRA 11.0000 5,500.00
<PAGE>
P. O. Box 340
Clermont, FL 32711-0340
EA764 Carole K. Early M.D. IRA 10.0000 5,000.00
P. O. Box 340
Clermont, FL 32711-0340
EA764 Carole K. Early M.D. IRA 12.0000 6,000.00
P. O. Box 340
Clermont, FL 32711-0340
EA793 Thomas W. & Shirley A. Easton 20.0000 10,000.00
5802 Bearlake Cr.
Apopka, FL 32703
EA815 Horald W. Eaton Est Trust 10.0000 5,000.00
Mary R. Eaton Trustee
Attn: R. C. Eaton
11245 W. Old Nashville Road
Columbus, IN 47201
EC553 Donald G. Eckhoff Keogh 10.0000 5,000.00
2021 Bellaire
Denver, CO 80207
ED606 James P. Edmunds 10.0000 5,000.00
723 Teal Lane
Altamonte Sprgs, FL 32701
ED961 Amy Leigh Edwards 10.0000 5,000.00
J. P. Edwards, Custodian
P. O. Box 201422
Austin, TX 78720-1422
ED962 Jan Elizabeth Anderson 10.0000 5,000.00
208 Quail Hollow Lane
East Amherst, NY 14051
EI203 Mildred Eichler 6.0000 3,000.00
19 Young Place
Tuckahoe, NY 10707
EL579 Stuart M. Ellsworth IRA 10.0000 5,000.00
7716 South Harrison Circle
Littleton, CO 80211
EL606 Stanley & Carolyn Elman 10.0000 5,000.00
430 E. Olive Avenue #A
Monrovia, CA 91016-3512
EV284 James M. Everhart PSP 30.0000 15,000.00
u/a/d 8/17/79
James M. Everhart Trustee
P. O. Box 2506
Roseville, CA 95746-2506
EV287 Maury Jay & Sherry D. Evensky 6.0000 3,000.00
<PAGE>
5114 Whitehall Ave.
Memphis, TN 38117
FA768 Cynthia C. Farrens IRA 4.0000 2,000.00
P. O. Box 3821
Homer, AK 99603
FA769 Daryl R. Farrens IRA 4.0000 2,000.00
P. O. Box 3821
Homer, AK 99603
FA806 George & Beverly Fast 6.0000 3,000.00
1526 Brookwood
Hutchinson, KS 67502
FE583 Peter S. Felsenthal 10.0000 5,000.00
2340 Kirby Woods Cove
Memphis, TN 38119
FE776 Frank J. Ferrin MD IRA 20.0000 10,000.00
3426 North Roosevelt Blvd
Key West, FL 33040
FI252 Nancy C. Fiddler IRA 6.0000 3,000.00
19 Patriot Road
Burlington, MA 01803
FI623 Alexander M. Finlay 20.0000 10,000.00
808 Live Oak
Denton, TX 76201
FI815 Theodore Fritzinger 10.0000 5,000.00
1315 Pennsylvania St.
Whitehall, PA 18052
FL296 Mary C. Fleming 10.0000 5,000.00
8760 White Oak
Northridge, CA 91324
FL634 Yolanda Ruth Flores IRA 4.0000 2,000.00
6157 Cromwell Avenue
Las Vegas, NV 89107-2527
FO579 Marshal V. Marchbanks 30.0000 15,000.00
Medical Corporation PSP
FBO Marshall V. Marchbanks
3536 Mendocino Ave. Suite 250
Santa Rosa, CA 95403
FO76K Barbara R. Ford IRA 10.0000 5,000.00
2887 Via Venezia
Deerfield Beach, FL 33442
FO76M Jeffrey L. Forman IRA 5.0000 2,500.00
110 Griswold Drive
West Hartford, CT 06119
FO76Q Stephen J. Ford IRA 5.0000 2,500.00
<PAGE>
2826 199th St. Avenue East
Sumner, WA 98390
FO771 Forest Hill Lumber Co. 20.0000 10,000.00
3370 Mansfield Hwy
Fort Worth, TX 76119
FO850 Wallace & Renee Foucault 40.0000 20,000.00
Trustees FBO "The Wallace
Foucault and Renee Foucault
Trust dated 9/19/95
2091 East Vina Del Mar Blvd
St. Pete Beach, FL 33706
FR11K Rex R & Nancy D Fraizer TTEE's 20.0000 10,000.00
Fraizer Family Trust
dtd 1-20-93
8610 Verde Way
Las Vegas, NV 89129-4145
FR122 Bette M. Frank Residuary Trust 40.0000 20,000.00
Lester H. Frank & Carl R.
Fenstemaker, Trustees
1908 Ship Court
Toms River, NJ 08753-3119
FR278 Philip P. & Debra I. Freed 20.0000 10,000.00
28 Redcoat Lane
Trumbull, CT 06611
FR287 Nita R. French 12.0000 6,000.00
799 Hillpine Drive, NE
Atlanta, GA 30306
FR430 J. Kent Friedman 20.0000 10,000.00
MAXXAM, Inc.
5847 San Felipe, Suite 2600
Houston, TX 77057
FR649 Eugene C. Froelich 4.0000 2,000.00
Rt. 1
Piper City, IL 60959
FR982 Fonda T. Fry 3.0000 1,500.00
102 Cypress Road
Wildwood, FL 34785-9772
FR982 Fonda T. Fry 2.0000 1,000.00
102 Cypress Road
Wildwood, FL 34785-9772
FU410 Fuhr Family Revocable Living 50.0000 25,000.00
Trust u/a/d 9/13/96, Bruce
and Mary Fuhr, Trustees
2333 Cypress Drive
Grand Prairie, TX 75050
FU585 Beverly J. Fuller 30.0000 15,000.00
<PAGE>
17 Rue Monet
Foothill Ranch, CA 92610
FU616 Fund Raising Specialists, Inc 10.0000 5,000.00
Pension Plan
Robert Grasso TTEE
P. O. Box 2498
Woburn, MA 01888
GA459 Stephen E. & Janet R. Gainer 22.0000 11,000.00
824 Chesnut Street
Parkersburg, WV 26101
GA463 Stephen E. Gainer IRA 4.0000 2,000.00
824 Chestnut Street
Parkersburg, WV 26101
GA464 Janet R. Gainer IRA 4.0000 2,000.00
824 Chestnut St.
Parkersburg, WV 26101
GA591 Herminio L & Phoebe J Gamponia 6.0000 3,000.00
Living Trust dated 7/11/92
413 Green Acres Circle
Spencer, WV 25276
GA61B Vincent Gandolfo IRA 4.0000 2,000.00
7648 Clementine Way
Orlando, FL 32819-4610
GA622 Edwin E. Gann 5.0000 2,500.00
12280 Bud Cross Road #11
Ft. Worth, TX 76179
GA623 Sherry Kimbrell 5.0000 2,500.00
1604 Duck Creek Road
Sanger, TX 76266
GA766 Terry L. Gardiner 20.0000 10,000.00
3648 W. W. Lawton
Seattle, WA 98199
GA76O Ira J. Garbutt IRA 10.0000 5,000.00
38 Sea Island Drive
Newport Beach, CA 92660
GA774 Randy L. & Shirley D. Garrett 18.0000 9,000.00
1317 Forest Court
Villa Rica, GA 30180
GE250 Cynthia G. Geddes 60.0000 30,000.00
9528 Dubois Boulevard
Orlando, FL 32825
GE575 Peggy J. Gelbrich IRA 6.0000 3,000.00
Rt. 1 Box 808
Ketchikan, AK 99901
<PAGE>
GI21A R. P. Gibson, Jr. 5.0000 2,500.00
30547 Blanco Road 3
Bulverde, TX 78163
GI21A R. P. Gibson, Jr. 2.0000 1,000.00
30547 Blanco Road 3
Bulverde, TX 78163
GI579 Eugene C. & Georgia L. Gilliam 20.0000 10,000.00
8872 Lakeview Rd.
Lakeside, CA 92040
GI581 Robert & Evelyn Gillmore 20.0000 10,000.00
6158 Camphor Court
Loomis, CA 95650-8003
GI587 Linda D. Gilson IRA 4.0000 2,000.00
3857 Fairview
Ketchikan, AK 99901
GI617 Joe & Mary Gingerich 10.0000 5,000.00
7490 Converse Huff Road
Plain City, OH 43064
GI619 Joe L. Gingerich IRA 6.0000 3,000.00
7590 Converse Huff Road
Plain City, OH 43064
GI626 Cindy Ginos IRA 4.0000 2,000.00
2891 Echo Valley Road
Jamul, CA 91935
GI627 Robert B. Ginos IRA 4.0000 2,000.00
2891 Echo Valley Road
Jamul, CA 91935
GL275 Janet Glenn 44.0000 22,000.00
4851 Alpine Drive
Lilburn, GA 30247
GO584 Robert H. Gold, DPM, PA IRA 40.0000 20,000.00
1024 Humphrey Oaks Circle
Memphis, TN 38120-2618
GO586 Gary Goldsmith IRA 12.0000 6,000.00
7108 Midbury
Dallas, TX 75230
GO627 Timothy Goodger IRA 7.0000 3,500.00
14615 W. 50th Street
Shawnee, KS 66219
GO633 Warren & Alice Goode 10.0000 5,000.00
520 W. 4th St.
Ontario, CA 91762
GO647 John Goott IRA 17.0000 8,500.00
<PAGE>
770 S. Post Oak Lane, #410
Houston, TX 77056
GO773 Ken Gordon 50.0000 25,000.00
6878 Burwood
Dallas, TX 75214
GO779 Marion Gornbein Trustee 10.0000 5,000.00
FBO Marion Gornbein Trust
u/a/d 4/29/83
2372 NW Seventh Court
Delray Beach, FL 33445-2084
GR120 David & Janice Grand 23.0000 11,500.00
3431 Georgia Ave No.
Minneapolis, MN 55427
GR124 Samuel R. Granett 6.6000 3,300.00
3500 Woodcutters Way
Austin, TX 78746-1540
GR129 Kenneth P. Grant IRA 5.0000 2,500.00
3029 Coves Court
Lithonia, GA 30058
GR273 John M. Greenwood 30.0000 15,000.00
17 Meredith Avenue
Newton, MA 02161
GR27A Christine Gregory IRA 6.0000 3,000.00
2216 30th Avenue South
Nashville, TN 37212
GR28A Helen R. Greenlaw, Trustee 10.0000 5,000.00
The Helen R. Greenlaw Living
Trust dated 3-13-95
P. O. Box 70
Georgetown, CA 95634
GR43D John W. Griffin M.D. 70.0000 35,000.00
523 Brookhollow
Port Lavaca, TX 77979
GR442 Sonya M. Lindblom 10.0000 5,000.00
3702 Quail Marsh Court
High Point, NC 27265
GR666 Steve M. & Nita Grothe 6.0000 3,000.00
1441 CR 1180
Decatur, TX 76234-9752
GR863 Fredric F. & Dolores Gruber 50.0000 25,000.00
1375 Bristol Park Place
Heathrow, FL 32746
GR863 Fredric F. & Dolores Gruber 30.0000 15,000.00
1375 Bristol Park Place
<PAGE>
Heathrow, FL 32746
GU283 R. Leo Guest IRA 10.0000 5,000.00
1250 College Way
Ontario, CA 91764
GU765 Morton Gurdin 10.0000 5,000.00
16722 Boca Delray Drive
Delray Beach, FL 33484
GU791 Kenneth & Linda Gusnowski 13.4000 6,700.00
221 Skyline Rd.
Georgetown, TX 78628
GU884 Carl E. Gunderson 36.0000 18,000.00
1113 Estates Drive
Fairfield, CA 94533-9702
HA166 Roger Haase 20.0000 10,000.00
19 White Aspen Court
Little Rock, AR 72212
HA577 Lisle A. & Clara M. Hale 24.0000 12,000.00
830 Washington Place E
Sequim, WA 98382
HA596 S. Graham Hamilton 50.0000 25,000.00
P. O. Box 2024
Winter Park, FL 32790
HA598 Gene T. Hamilton MD IRA 6.0000 3,000.00
419 Lee Street
Greenville, NC 27834
HA599 Donald F. & Jean K. Hammond 20.0000 10,000.00
1870 Cherry Grove Road North
Suffolk, VA 23432
HA615 June G. Hanna 20.0000 10,000.00
400 Plaza Estival
San Clemente, CA 92672
HA61G George A. Hanson Jr. IRA 50.0000 25,000.00
4718 Heintz AveNUE
Kansas City, MO 64133-2346
HA61R Hamner Hannah III M.D. IRA 26.0000 13,000.00
11500 Canterbury Circle
Leawood, KS 66211
HA760 Michael Harp IRA 5.0000 2,500.00
3100 Broadway, Ste. 1114
Kansas City, MO 64111
HA761 The Harris Family Trust 50.0000 25,000.00
2241 S. W. Starling Drive
Palm City, FL 34990
<PAGE>
HA767 Margaret R. Harder 6.0000 3,000.00
164 Karyl Street
Burlington, WI 53105
HA768 Ivan G & Margaret A. Harken 20.0000 10,000.00
1014 Quinn
Aplington, IA 50604
HA769 Lee C. Harrison 10.0000 5,000.00
1351 Whitetail Court
Wichita, KS 67206
HA777 Cheryl Wood Harris 6.0000 3,000.00
c/o Texaco China Pouch-CACT
2000 Westchester Avenue
White Plains, NY 10650-0001
HA778 Robert L. Harris 40.0000 20,000.00
P. O. Box 668
San Marcos, TX 78667-0668
HA779 Hartsville Cabinet & Millwork 10.0000 5,000.00
P. O. Box 237
Hartsville, TN 37074
HA77K Richard W. Hardman 10.0000 5,000.00
5029 Water Vista Drive
Orlando, FL 32821
HA77X Helen Hartneck 5.0000 2,500.00
c/o Dan Clawson
212 Wells Avenue S., Suite J
Renton, WA 98055-2142
HA787 Hardinge Revocable Living 40.0000 20,000.00
Trust, SubTrust B, H. DeForest
Hardinge,Trustee,u/t/d 8/27/96
7270 W. Mercer Way
Mercer Island, WA 98040-5534
HA78I B. Randloph Harrison IRA 20.0000 10,000.00
400 Pine Street, Suite 600
Abilene, TX 79601
HA78P Robert Harman IRA 4.0000 2,000.00
36 Stonington Road
Laguna Beach, CA 92677
HA78Q Roger U. Hart IRA 30.0000 15,000.00
11852 Caminito Corriente
San Diego, CA 92128
HA899 John J. Haughton 20.0000 10,000.00
P. O. Box 1346
Dennisport, MA 02639-5346
HA913 Sheldon S. Hausman IRA 4.0000 2,000.00
<PAGE>
47 Toll Gate Lane
Avon, CT 06001
HA975 Nancy L. Lee IRA 20.0000 10,000.00
P. O. Box 1146
Fair Oaks, CA 95826
HA98X Gary L. Haynes IRA 5.0000 2,500.00
625 Sunset Drive North
Ketchikan, AK 99901-9151
HE444 Mark A. Heidmann IRA 4.0000 2,000.00
1520 W. Warner Road Suite 203
Gilbert, AZ 85233
HE627 Vernon & Helen Henriques 12.0000 6,000.00
8012 NW 101 Avenue
Tamarac, FL 33321
HE62E Thomas L. Hendrix Trustee 8.0000 4,000.00
of The Hendrix Family
Revocable Trust dated 6-1-93
1931 Rockwood Drive
Sacramento, CA 95864
HE76P Anne B. Herman 44.0000 22,000.00
66 Grand Avenue
Suwsnee, GA 30024
HE773 John M. & Karen A. Herron 14.0000 7,000.00
33333 County Road 12
Anton, CO 80801-9605
HE77C Julius P. Hebert, Jr. IRA 9.0000 4,500.00
227 Oakdale Loop
Houma, LA 70360
HE786 John B. & Elizabeth Hertling 20.0000 10,000.00
4510 Larado Place
Orlando, FL 32806
HE786 John B. & Elizabeth Hertling 20.0000 10,000.00
4510 Larado Place
Orlando, FL 32806
HE793 Norma Jo Hess 1.5000 750.00
73 Bullman Street
Phillipsburg, NJ 08865
HE854 Mary Lou Heuett IRA 4.0000 2,000.00
P. O. Box 882
Tucson, AZ 85702-0882
HI241 Marlyn L. Hicks 20.0000 10,000.00
5123 Pacifica Dr.
San Diego, CA 92109
HI253 Harry T. and Claire Hickson 20.0000 10,000.00
<PAGE>
3601 Abercorn St.
Savannah, GA 31405
HI573 Robert S. Hill 10.0000 5,000.00
1735 Bella Casa Drive
Woodland, CA 95695
HI573 Robert S. Hill 5.0000 2,500.00
1735 Bella Casa Drive
Woodland, CA 95695
HI616 Ben M. Hiner IRA 4.0000 2,000.00
4120 Thoroughgood Drive
Virginia Beach, VA 23455
HI616 Ben M. Hiner IRA 5.0000 2,500.00
4120 Thoroughgood Drive
Virginia Beach, VA 23455
HO290 James & Genanne Hoene 10.0000 5,000.00
3027 Greyfield Trace
Marietta, GA 30067
HO399 Fr. James C. Hoge 10.0000 5,000.00
5521 W. Pine Circle
Crystal River, FL 32629
HO401 John R. Hogle IRA 10.0000 5,000.00
12622 57th Avenue West
Everett, WA 98204
HO402 Thomas B. & Virginia C. Hogan 6.0000 3,000.00
4129 Allenhurst Dr.
Norcross, GA 30092
HO561 James & Nancy Hokanson 10.0000 5,000.00
10605 West Concho Circle
Sun City, AZ 85373
HO57G Dellon H. Holt IRA 4.0000 2,000.00
5336 Blue Sage Drive
Raleigh, NC 27606
HO57H Carolyn C. Holt IRA 4.0000 2,000.00
5336 Blue Sage Drive
Raleigh, NC 27606
HO587 Michael W. Hollenbeck 8.0000 4,000.00
1275 Saratoga Lane
Geneva, FL 32732
HO588 NABOB 8.0000 4,000.00
FBO Clarence Holland MPP
Financial Services Dept.
Attn: Securities Processing
P. O. Box 7088
Wyomissing, PA 19610-6088
<PAGE>
HO589 NABOB 12.0000 6,000.00
FBO Clarence Holland PSP
Financial Services Dept.
Attn: Securities Processing
P. O. Box 7088
Wyomissing, PA 19610-6088
HO647 Mary H. Hoobler 80.0000 40,000.00
17 Ingleton Circle
Cartmel
Kennett Square, PA 19348-2000
HO747 Carl A. & Jarine L. Hopmann 10.0000 5,000.00
12319 Burgoyne Dr.
Houston, TX 77077
HO76N Leroy G. Hornbeck IRA 5.0000 2,500.00
P. O. Box 1079
Port Hadlock, WA 98338
HO76R George R. Horner Trust 20.0000 10,000.00
Geroge R. Horner, Trustee
P. O. Box 60610
Fairbanks, AK 99706
HO789 Robert S. Horowitz 20.0000 10,000.00
20 Executive Park West #2023
Atlanta, GA 30329
HO962 James W. & Virginia C. Howard 20.0000 10,000.00
221 N. Co. Rd. 900 E.
Indianapolis, IN 46234
HO965 Helen Howell or Alfred Warren 20.0000 10,000.00
Apartado 749
San Pedro Sula
Honduras
Central America
HO968 Donald R. & Terri L. Howells 20.0000 10,000.00
3132 Masters Dr.
Clearwater, FL 33519
HO96A Tia S. Howard IRA 8.0000 4,000.00
1417 Cranapple Cove
Nashville, TN 37207-6012
HU39D Winifred Hughey IRA 25.0000 12,500.00
5722 Moonlight Circle
Orlando, FL 32839
HU586 Betty B. Pope 20.0000 10,000.00
1002 Northfield Blvd
Forrest Oaks A-104
Murfreesboro, TN 37130
HU617 Carole A. Hunka IRA 9.0000 4,500.00
<PAGE>
125 Hardin Ct.
Grenta, LA 70056
HU61E Terry B. Hunka IRA 12.0000 6,000.00
125 Hardin Court
Grenta, LA 70056
HU61H Robert J. Hunting IRA 4.0000 2,000.00
803 Brookside Road
Maitland, FL 32751
HU630 Oscar H. & Catherine S. Hunt 30.0000 15,000.00
2391 Rosswood Road
Trinity, NC 27370
HU803 Don R. & Jessie M. Huston 10.0000 5,000.00
110 North Emporia
Haven, KS 67543
IN254 Indelicato Living Trust u/a/d 6.0000 3,000.00
4/22/96, Gregory J. Indelicato
Trustee
8801 N.W. 38th Drive #306-B
Coral Springs, FL 33065
IN816 Kerry Johnson Trustee 30.0000 15,000.00
International Productivity
Systems Fixed Benefit PP
11151 Cherry Hill
Santa Ana, CA 92705
IN817 James G. Stensby M.D. IRA 40.0000 20,000.00
Route 3 Box 235-C
Winchester, TN 37398
IN837 Internal Medicine Specialists 20.0000 10,000.00
P. O. Box 1567
Downey, CA 90240
IR111 Barbara S. Ira IRA 5.0000 2,500.00
2601 Orleans
Bellingham, WA 98226
IR446 Michael Irish IRA 4.0000 2,000.00
4600 S. Ulster Street #700
Denver, CO 80237
IR971 Blanche Irwin or Lynn Bixler 20.0000 10,000.00
or Robert Irwin
615 Summit St. Apt #1
King of Prussia, PA 19406
IS681 James K. Isom Tr. 6.0000 3,000.00
50 N. University Dr.
Plantation, FL 33324
JA217 A. Everette James M.D. 10.0000 5,000.00
<PAGE>
205 New Castle Place
Chapel Hill, NC 27514-6588
JA23Y James B. & Joyce A. Jackson 10.0000 5,000.00
Revocable Family Trust
James B. Jackson and Joyce A.
Jackson, Trustees
4289 Rose Creek Road
Roseville, CA 95747
JA599 Gerald P. Jambon IRA 4.0000 2,000.00
2150 Mars St.
Harvey, LA 70058
JA602 Mrs. Jeannette C. James 60.0000 30,000.00
33 White Oak Road
Asheville, NC 28803
JA628 Jeanne C. Janssen 50.0000 25,000.00
210 Flager Lane
West Palm Beach, FL 33407
JA761 R. Brooks Jarrell 60.0000 30,000.00
3240 Memorial Blvd.
Murfreesboro, TN 37129
JE219 Suzanne P. Jebe 30.0000 15,000.00
5340 Hampshire Drive
Minneapolis, MN 55419
JE618 James & Nancy Jenkins 10.0000 5,000.00
7767 Waterpark Lane
Houston, TX 77086
JE628 Lynn S. Jensen IRA 6.0000 3,000.00
119 Summit Drive
York, PA 17404
JE965 Carla R. Jewell IRA 4.0000 2,000.00
3400 North Pershing
Hutchinson, KS 67502-2958
JI771 James O. Jirsa IRA 9.0000 4,500.00
8800 Point West
Austin, TX 78759
JO41F Gregory Johnson IRA 8.0000 4,000.00
P. O. Box 344
Meridian, ID 83642
JO421 Margaret L. Johnston IRA 8.0000 4,000.00
2846 Zarthan Ave S
St Louis Park, MN 55416
JO423 Johnson Revocable Trust 10.0000 5,000.00
u/a/d 7/18/85 Owen & Gloria
Johnson Trustees
<PAGE>
2120 Mirmar Drive
Balboa, CA 92661
JO428 Steven E. Johnson, M.D. 12.0000 6,000.00
5009 Highland Meadow
Fort Worth, TX 76132-3815
JO42H The Johnston Family Trust 100.0000 50,000.00
Carl B. Johnston and Helena C.
Johnston, Trustees
7562 Regency Drive
Palm Springs, CA 92264
JO42H The Johnston Family Trust 140.0000 70,000.00
Carl B. Johnston and Helena C.
Johnston, Trustees
7562 Regency Drive
Palm Springs, CA 92264
JO570 William Jolliffe 40.0000 20,000.00
P. O. Box 548
Oshkosh, NE 69154-0548
JO618 James D. Jones IRA 4.0000 2,000.00
P. O. Box 9107
Ketchikan, AK 99901
JO763 Marion H. Jordan, M.D. 6.0000 3,000.00
3309 Old Point Road
Edgewater, MD 21037
KA57C Dianne L. Kalina IRA 4.0000 2,000.00
98 Anacapa Drive
Santa Rosa, CA 95403
KA739 Bertram D. & Miriam Kaplan 50.0000 25,000.00
8217 Bryn Manor
Germantown, TN 38138
KA742 Robert J. & Bertram D. Kaplan 50.0000 25,000.00
M. D., PA Retirement Plan
910 Madison Avenue Ste 922
Memphis, TN 38103
KA793 Misako Kashiki TTEE 10.0000 5,000.00
Kashiki Family Trust
UDT 10/1/93
5580 Camino Real
Riverside, CA 92509
KA849 Steven E. Katzman 60.0000 30,000.00
34 Powder Creek Dr.
Belleville, IL 62223
KE166 Walter M. & Sharlene Kearney 25.0000 12,500.00
58 Quarter Staff Place
Berlin, MD 21811-1677
<PAGE>
KE574 Sylvia M. Kelley 40.0000 20,000.00
418 Landsbury Drive
Weddington, NC 28173
KE577 Joan M. Kelly 10.0000 5,000.00
2701 67th Street North
St. Petersburg, FL 33710-3148
KE604 Michael M. Kempotich IRA 10.0000 5,000.00
16825 24th Ave. N
Plymouth, MN 55447
KE617 K. Robert & Patricia Kennedy 6.0000 3,000.00
8607 Imogene
Houston, TX 77074
KE61J Bruce C. Kenny 4.0000 2,000.00
30570 Middle Creek Circle
Daphne, AL 36527
KE61M Phyllis Kennedy/Kay M. Walter 12.0000 6,000.00
755 Woodbridge Drive
Medford, OR 97504-3300
KE802 Edward Jay Kessler IRA 8.0000 4,000.00
2440 Lone Jack Road
Olivehain, CA 92024
KE803 Margaret B. Kessler IRA 8.0000 4,000.00
2440 Lone Jack Rd.
Olivehain, CA 92024
KE836 Mark & Carol Kettner 6.0000 3,000.00
92-1239 Hunekai Street
Ewa Beach, HI 96707
KI378 The Ruth Lucille Kifer Living 10.0000 5,000.00
Trust u/t/a March 26, 1987
Ruth Lucille Kifer, Trustee
or her successor trustee
3451 Quail Ridge Lane
Eugene, OR 97404-3871
KI579 Michael J. Kiley 4.0000 2,000.00
2030 Main Street Ste 1240
Irvine, CA 92614
KI594 Kimple Mold Corporation PSP 60.0000 30,000.00
Ronald R. Kimple & Janet K.
Kimple,Trustees u/a/d 12/29/95
415 Industrial Road
Goddard, KS 67052
KI620 Bruce O. King 10.0000 5,000.00
P. O. Box 1898
Mt. Pleasant, TX 75455
<PAGE>
KI627 Steven L. & Janet N. Kinzler 87.0000 43,500.00
11 Glenleigh
Little Rock, AR 72207
KI628 Janet N. Kinzler Trust 74.0000 37,000.00
11 Glenleigh Drive
Little Rock, AR 72207
KI762 Mildreene J. Kirby 20.0000 10,000.00
1825 Brighton
Grover City, CA 93433
KI774 Alan T. & Susan Kirby 20.0000 10,000.00
2675 Reynolds Drive
Winston-Salem, NC 27104
KI801 Michael A. Kisel IRA 10.0000 5,000.00
45 Colgett Drive
Oakland, CA 94619-2304
KI953 Michael & Mildred Kivatisky 6.0000 3,000.00
3646 E. Harmon Ave.
Las Vegas, NV 89121
KL283 Betty L. Kleiman 20.0000 10,000.00
12323 Montego Plaza
Dallas, TX 75230
KN431 Walter Knieling IRA 20.0000 10,000.00
9812 Spring Oak Drive
Bakersfield, CA 93311
KN431 Walter Knieling IRA 5.0000 2,500.00
9812 Spring Oak Drive
Bakersfield, CA 93311
KN466 John W. & Joanne S. Knight 12.0000 6,000.00
8499 Collinswood Drive
Olive Branch, MS 38654
KO393 John M Koger IRA 20.0000 10,000.00
c/o Koger Agency
P. O. Box 4587
Topeka, KS 66604-0587
KO413 Mary Ann Kohn 17.0000 8,500.00
2041 E. Columbia Street
Allentown, PA 18103
KO618 Lawrence K. Koning 4.0000 2,000.00
900 South Main Ste 209
Corona, CA 91720-3498
KO628 Stan or Jayne Konynenbelt 14.0000 7,000.00
10109 Holiday
Zeeland, MI 49464
<PAGE>
KO779 Charles R. & Elizabeth Korman 10.0000 5,000.00
11 Brookglen Drive
Greensboro, NC 27410-2756
KO811 Charles D. Koteen 14.0000 7,000.00
98 Newport Avenue
West Hartford, CT 06117
KO830 Lois Koteen 10.0000 5,000.00
98 Newport Avenue
West Hartford, CT 06107
KR120 William L. Kraus III 6.0000 3,000.00
c/o Kraus Energy Consolidated
P. O. Box 66
Newark, DE 19715
KR126 Leo C. & Theresa Kranz 8.0000 4,000.00
34 Greentree Lane
Conroe, TX 77304-1108
KR137 William L. Kraus III 6.0000 3,000.00
Kraus Foundation
P. O. Box 66
Newark, DE 19715
KR191 Brey Krause-Smoyer Brass 100.0000 50,000.00
Employee Benefit Fund
40 Iron Clad
Salem, SC 29676
KR200 Ernest C. & Martha Krauth 40.0000 20,000.00
1632 Bayfield Court
New Port Richey, FL 34655-4912
KR633 James Kroncke 2.0000 1,000.00
4185 Dimholt Court
Winston-Salem, NC 27104
KR634 Frederick Kroncke 2.0000 1,000.00
156 Candlewood Road
Rocky Mount, NC 27804
KR634 Frederick Kroncke 2.0000 1,000.00
156 Candlewood Road
Rocky Mount, NC 27804
KU416 Bonnie M. Kuhn 20.0000 10,000.00
Box 98
Funkstown, MD 21734
KU839 William & Elizabeth Kutz 10.0000 5,000.00
201 Hartranft Ave. Coleston
Norristown, PA 19401
KW641 Ronald Kwok & Karen Buxbaum 20.0000 10,000.00
<PAGE>
5757 Evening Canyon Drive
La Canada
Flintridge, CA 91011
KY545 Daniel C. Kyker, Jr. 40.0000 20,000.00
145 Bent Tree Drive
Hendersonville, NC 28739
LA212 John & Irene LaBeda 10.0000 5,000.00
747 Marsopa Dr.
Vista, CA 92083-6482
LA446 Wesley B. Laine 10.0000 5,000.00
526 Virginia Dare Drive
Virginia Beach, VA 23451
LA536 Glen W. Lake 20.0000 10,000.00
530 Waterford Drive
Roanoke, VA 24014
LA595 Brian Lamb 6.0000 3,000.00
2420 S. Queen Street
Arlington, VA 22202
LA775 Eston & Betty Larsen 10.0000 5,000.00
1306 A Wheatland Drive
Hutchinson, KS 67502-5670
LA855 Jerry B. & Anne W. Lauer 6.0000 3,000.00
9024 Crichton Woods Dr.
Orlando, FL 32819
LA857 Ben F. Lautenslager IRA 30.0000 15,000.00
8991 Whirlaway
Alta Loma, CA 91701-1416
LA983 The Lazar Family Trust u/a/d 12.0000 6,000.00
7/23/98, David W. Lazar or
Jean Gartin Lazar, Trustees
446 Vista Roma
Newport Beach, CA 92660
LE117 Phillip B. Leavenworth cust. 5.0000 2,500.00
FBO Helen Rachell Leavenworth
230 North Grove Street
Mt. Horeb, WI 53572-1616
LE186 Yvonne F. Leander IRA 4.0000 2,000.00
1101 Deerhurst Court
Nashville, TN 37221-3962
LE258 Charles M. Lederer, Jr. 40.0000 20,000.00
9905 East 83 Terrace
Raytown, MO 64138
LE271 Patricia Ann Lee Custodian 10.0000 5,000.00
For Roger Scott Lee
<PAGE>
16327 Mt. Islip Circle
Fountain Valley, CA 92708
LE273 Patricia Ann Lee Custodian 10.0000 5,000.00
For Nancy Suzanne Lee
16327 Mt. Islip Cir.
Fountain Valley, CA 92708
LE363 George Leever IRA 7.0000 3,500.00
9581 Oak Point Cove
Arlington, TN 38002
LE412 George Edward Lehigh Revocable 10.0000 5,000.00
Trust u/a/d 6/28/94
Summerwood Estates
11421 W. Cedarwood Drive
Omaha, AR 72662
LE420 Barbara H. Leever IRA 5.0000 2,500.00
9581 Oak Point Cove
Arlington, TN 38002
LE636 Janet M. Leon Trustee 8.0000 4,000.00
of the Janet M. Leon Revocable
Trust U/A/D 7-20-93
140 Wagon Wheel Way
Lake Mary, FL 32746
LE95P Tekla P. Levy Trust u/a/d 20.0000 10,000.00
2/26/98, Tekla P. Levy and
Martha S. Ballard, Co-Trustees
206 Concord Park West
Nashville, TN 37205
LE963 Elaine H. Lewis IRA 8.0000 4,000.00
4168 Blue Heron Court
Las Vegas, NV 89121
LE965 James R. & Deldee L. Lewis 10.0000 5,000.00
P. O. Box 27
Colbert, WA 99005-0027
LE973 Lynn E. Lewis 10.0000 5,000.00
1607 Summit View
Anchorage, AK 99504
LI213 Matthew A. Liberatore IRA 5.0000 2,500.00
3621 Stanford Circle
Falls Church, VA 22041
LI214 Katherine K. Liberatore IRA 5.0000 2,500.00
3621 Stanford Circle
Falls Church, VA 22041
LI593 Lisa K. Lim 7.0000 3,500.00
1444 Cimarron Drive
Holland, MI 49423
<PAGE>
LI605 Robert W. & Lois P. Lindberg 50.0000 25,000.00
37 Buena Vista Dr.
White Plains, NY 10603
LI617 Daniel M. Linguiti IRA 4.0000 2,000.00
P. O. Box 550754
Jacksonville, FL 32255-0754
LI61K George & Eleanor Lindenbaum 10.0000 5,000.00
141 Vista del Parque
Redondo Beach, CA 90277
LI61K George & Eleanor Lindenbaum 5.0000 2,500.00
141 Vista del Parque
Redondo Beach, CA 90277
LI61K George & Eleanor Lindenbaum 18.0000 9,000.00
141 Vista del Parque
Redondo Beach, CA 90277
LI61K George & Eleanor Lindenbaum 10.0000 5,000.00
141 Vista del Parque
Redondo Beach, CA 90277
LO212 Peter Lobello IRA 8.0000 4,000.00
5624 NW 23rd Terrace
Boca Raton, FL 33496
LO266 Hilary P. Lodermeier 6.0000 3,000.00
3323 Elkhorn Blvd
N. Highlands, CA 95660
LO269 Joseph & Diane LoDuca 20.0000 10,000.00
36366 Haverhill
Sterling Hts., MI 48312
LO270 Lazarus J. Loeb M.D. IRA 10.0000 5,000.00
1504 Westover Lane
Ft. Worth, TX 76107
LO337 Henry J. Loewenstein 40.0000 20,000.00
Revocable Trust Agreement
dtd 1-12-87
1020 N. Northlake Drive
Hollywood, FL 33019
LO596 Dominic Lombardi 6.0000 3,000.00
3410 Erie Blvd. East
De Witt, NY 13214-1805
LO681 Richard J. & Marion E. Looney 10.0000 5,000.00
400 SW 297th St.
Federal Way, WA 98023
LO994 Paul B. Loyd IRA 28.0000 14,000.00
210 Bluffcrest
<PAGE>
San Antonio, TX 78216-1910
LO996 Jose Lozano, M.D. 6.0000 3,000.00
2099 Dowlen Road #23
Beaumont, TX 77706-3363
LU288 Milton Lee Luedke 10.0000 5,000.00
304 E. Ward
Waco, TX 76706
LU288 Milton Lee Luedke 22.0000 11,000.00
304 E. Ward
Waco, TX 76706
MA25P Douglas W. Ligon M.D. IRA 20.0000 10,000.00
130 W. Briarcrest Drive
Erin, TN 37061
MA391 Joan Maggio 100.0000 50,000.00
599 Wagontown Road
Coatesville, PA 19320
MA401 Carl & Charlene Magee 10.0000 5,000.00
3210 Bluff Blvd.
Holiday, FL 34691-9713
MA406 Gladys Maghakian 6.0000 3,000.00
35 Julio Drive #319
Shrewsbury, MA 01545-3050
MA574 Bernard & Eleanor Malacco 10.0000 5,000.00
1308 Wyoming Avenue
Exeter, PA 18643
MA576 Willard L. Maletz 8.0000 4,000.00
238 Fourteenth Street
Seal Beach, CA 90740-6507
MA57E John A. Mallory IRA 18.0000 9,000.00
252 Mercedes Lane
Arroyo Grande, CA 93420
MA61T Susan Mann IRA 4.0000 2,000.00
14454 Costa Mesa Drive
La Mirada, CA 90638
MA61X Jack L. Manwaring Trust 35.0000 17,500.00
u/a/d 10/2/97,
Jane L. Manwaring, Trustee
20244 N. 101 Avenue #1067
Peoria, AZ 85382
MA61Y Jane L. Manwaring Trust 35.0000 17,500.00
u/a/d 10/2/97
Jane L. Manwaring, Trustee
20244 N. 101 Avenue #1067
Peoria, AZ 85382
<PAGE>
MA766 Dolores Maragni 100.0000 50,000.00
Marina Bay Club #48
580 Patten Ave.
Long Branch, NJ 07740
MA770 E. J. Marshall & R. J. Faucett 10.0000 5,000.00
P. O. Box 492
Wilton, ME 04294
MA772 William H. & Miriam Martin 24.0000 12,000.00
P. O. Box 620447
Oviedo, FL 32762-0447
MA77W Jack Maroni IRA 4.0000 2,000.00
36-645 Palomino Lane
Rancho Mirage, CA 92270
MA78B Melvin M. Marquis IRA 24.0000 12,000.00
70234 Kelly Road
Mandeville, LA 70448
MA78C Merle L. Marquis IRA 5.0000 2,500.00
70234 Kelly Road
Mandeville, LA 70448
MA78S Daniel E. Martin M.D. IRA 20.0000 10,000.00
Rt. 3 Box 568 B
Erin, TN 37061
MA797 George L. & Alice Massey 50.0000 25,000.00
14160 Birmingham Highway
Alpharetta, GA 30201
MA799 Cathy Mastrantuono IRA 4.0000 2,000.00
8100 Cambridge Drive #144
Houston, TX 77054
MA79L Janet M. Masuda IRA 4.0000 2,000.00
17499 Blue Jay Road
Morgan Hill, CA 95037
MA81D Laszlo Matrai 4.0000 2,000.00
8186 Ambassador Court
San Diego, CA 92126
MA984 James C. Maxey, Sr. 10.0000 5,000.00
1700 Carnelian
Anaheim, CA 92802
MA984 James C. Maxey, Sr. 2.0000 1,000.00
1700 Carnelian
Anaheim, CA 92802
MA985 Timothy Douglas Maynard M.D. 10.0000 5,000.00
106 Oak Ridge Road
Gatesville, TX 76528
<PAGE>
MC160 Kevin M. McAllister 6.0000 3,000.00
8852 Shenandoah Circle NW
Pickerington, OH 43147-9630
MC241 Margie W. & John M. McCollum 10.0000 5,000.00
170 Baker Cross Road
Madison, NC 27025
MC24C James F. McCann IRA 50.0000 25,000.00
7899 JoJoba Circle
Gold Canyon, AZ 85219-3364
MC24J Ed R. McCollom IRA 7.0000 3,500.00
2015 Maple Circle
West Des Moines, IA 50265-4295
MC266 Thomas G. & Wanda L. McDonald 10.0000 5,000.00
P. O. Box 85
Summit Point, WV 25446
MC457 Thomas R. McIntire 20.0000 10,000.00
5808 Edgewood Drive
McKinney, TX 75070
MC574 Robert H. McLarn 10.0000 5,000.00
5609 Choctaw Drive
Granbury, TX 76049
MC589 Merle B. McMillen IRA R/O 10.0000 5,000.00
c/o Nancy E. McMillen
1710 Romeria Drive
Austin, TX 78757
MC589 Merle B. McMillen IRA R/O 16.0000 8,000.00
c/o Nancy E. McMillen
1710 Romeria Drive
Austin, TX 78757
MC621 Jeffrey W. McNiece IRA 4.0000 2,000.00
401 Sandy Lane
Deltona, FL 32738
MC735 James M. McPartlin IRA 5.0000 2,500.00
324 Russell Street
Woburn, MA 01801
MC737 John J. McPhaul IRA 17.0000 8,500.00
4212 Melissa Lane
Dallas, TX 75229-4111
MC748 Scott D. McPherson 6.0000 3,000.00
515 N. Noble #604
Chicago, IL 60622
ME413 Arkesh M. Mehta IRA 4.0000 2,000.00
4725 Naples Avenue
<PAGE>
Beltsville, MD 20705
ME454 Eric A. & Vickie A. Meindl 20.0000 10,000.00
213 N. Beach Blvd.
Waveland, MS 39576
ME466 Paul Meis IRA 51.0000 25,500.00
1228 Idlewilde Heath Drive
Winston-Salem, NC 27106
ME578 Harry Melton & Esther Melton 6.0000 3,000.00
Revocable Living Trust
u/a/d 4/19/85
2221 Norwegian Dr., Apt. #61
Clearwater, FL 34623
ME578 Harry Melton & Esther Melton 10.0000 5,000.00
Revocable Living Trust
u/a/d 4/19/85
2221 Norwegian Dr., Apt. #61
Clearwater, FL 34623
ME583 Patricia K. Merlo 14.0000 7,000.00
3011 Hokendauqua Street
Whitehall, PA 18052
ME762 Elizabeth B. Mercado IRA 20.0000 10,000.00
3008 Brownwood
Chattanooga, TN 37404
ME76F Laurence Mercier 10.0000 5,000.00
3622 Marigny Street
New Orleans, LA 70122
ME811 Willard A. & Marilyn Metcalf 10.0000 5,000.00
3 Hoke Smith Blvd. Apt. E 307
Greenville, SC 29615-5553
ME815 M. Rodney Metz IRA 44.0000 22,000.00
3198 Edgewater Drive
Gainesville, GA 30501
ME815 M. Rodney Metz IRA 24.0000 12,000.00
3198 Edgewater Drive
Gainesville, GA 30501
ME967 Denise O. Mewborne 14.0000 7,000.00
1081 Manning Farm Ct.
Dunwoody, GA 30338-2648
MI288 Anthony P. & Patricia Mientek 8.0000 4,000.00
176 Shallowbrook Lane
Glastonbury, CT 06033
MI577 Harry L. Miller IRA 4.0000 2,000.00
722 E. Main Street
Arlington, KS 67514-9435
<PAGE>
MI579 Ronald L. Miller 12.0000 6,000.00
7604 Olcott Avenue
Bakersfield, CA 93308
MI581 Elizabeth & Lawrence Miller 12.0000 6,000.00
5605 Cape Coral Circle
Las Vegas, NV 89130-2095
MI583 Myron D. Miller 6.0000 3,000.00
12908 S. Highpoint Road
Partridge, KS 67566
MI587 Linda Stevenson-Millard IRA 4.0000 2,000.00
3110 Douglas Highway
Juneau, AK 99801
MI588 Albert J. Miller IRA 10.0000 5,000.00
Rt. 1 Box 255
Hutchinson, KS 67501
MI589 Maurice J. & M. June Miller 10.0000 5,000.00
605 S. Chicago St.
Dwight, IL 60420-1001
MI58N Paul L. Miller IRA 4.0000 2,000.00
7801 S. Herren Road
Partridge, KS 67566
MI58Y Arno Miller 4.0000 2,000.00
Rt 1 Box 273
Hutchinson, KS 67501
MI606 Donald Ray Miller IRA 50.0000 25,000.00
225 Stone Creek Ranch Road
McGregor, TX 76657-3764
MI614 Scott W. & Clare L. Milhous 6.0000 3,000.00
Trustees UTA dated 10/31/88
2621 Gordon Avenue
La Harbra, CA 90631
MI619 Michael A. Mingolelli 8.0000 4,000.00
1101 Worchester Road
Framingham, MA 01701
MI814 Richard H. Mitchell IRA 4.0000 2,000.00
12412 Horado Road
San Diego, CA 92128
MI81B Marianne Mitchell IRA 4.0000 2,000.00
816 North O Street Space 57
Lompoc, CA 93436
MI81I Richard H. Mitchell 10.0000 5,000.00
12412 Horado Road
San Diego, CA 92128
<PAGE>
MI81J Dianne L. Mitchell Kalina 10.0000 5,000.00
98 Anacapa Drive
Santa Rosa, CA 95403
MO610 Kenneth H. Montgomery IRA 10.0000 5,000.00
2 Moore Road
Wayland, MA 01778
MO63F Gradon A. & Nancy A. Moon 8.0000 4,000.00
Trustees FBO Moon Family Trust
u/a/d 5/3/89
5320 Del Monte Avenue
Las Vegas, NV 89146
MO774 Steven A. & Shirley A. Morrill 6.0000 3,000.00
291 Governor Goodwin Road
North Berwick, ME 03906-9801
MO77B Robert J & Ruth A Morris TTEE 10.0000 5,000.00
Morris Revocable Trust
750 Nolan Avenue
Chula Vista, CA 92010
MO851 Peter V. Moulder IRA 50.0000 25,000.00
2734 St. Charles Avenue
New Orleans, LA 70130
MO866 Randy Jay Mound M.D. 20.0000 10,000.00
1830 Marview Drive
Thousand Oaks, CA 91362
MU279 Richard G & Bonnie J Mueller 10.0000 5,000.00
TTEES FBO Mueller Revocable TR
#1 established 7/20/85
18771 Pased Picasso
Irvine, CA 92716
MU76R Jack Murphy IRA 100.0000 50,000.00
3019 Maravillas Loop
Austin, TX 78735-1419
MU76Y Julia T. & Walter B. Murphy 3.0000 1,500.00
15 Bobcat Trail
Wildwood, FL 34785
MU76Y Julia T. & Walter B. Murphy 2.0000 1,000.00
15 Bobcat Trail
Wildwood, FL 34785
MU773 Sheldon D. Murphy IRA 6.0000 3,000.00
2593 1/2 Galley Lane
Grand Junction, CO 81505
MU800 Alan Edward Mussell 14.0000 7,000.00
2075 SW Mossy Brae
West Linn, OR 97068
<PAGE>
MU800 Alan Edward Mussell 39.0000 19,500.00
2075 SW Mossy Brae
West Linn, OR 97068
MY171 Michael C. Myrick 6.0000 3,000.00
1325 South Shore Drive
Holland, MI 49423
NA432 Marian Naik IRA 40.0000 20,000.00
P. O. Box 21807
Waco, TX 76702-1807
NA515 Mathilde M. Najjar 6.0000 3,000.00
717 Georgetown Drive
Nashville, TN 37205
NA809 National Door Supply Co. Inc. 100.0000 50,000.00
Profit Sharing Plan
Bob R. Barnard, Trustee
6310 Airport Fwy
Fort Worth, TX 76117-5322
NE250 Francis & Patricia Nedoroscik 30.0000 15,000.00
Trustees FBO Francis D.
Nedoroscik Revocable Trust
u/a/d 11/12/97
1760 Emerald Drive
St. Paul, MN 55112
NE578 Sandra K. Nelson IRA 4.0000 2,000.00
13629 Stanbridge Ave.
Bellflower, CA 90706
NE57S Gary L. Nelson IRA 4.0000 2,000.00
3021 Wiley Post Avenue
Anchorage, AK 99517
NE855 Karen L. Lannon 20.0000 10,000.00
R.R. 4 Box 85
Pontiac, IL 61764-9160
NE862 The Neumann Family Trust 10.0000 5,000.00
Albert / Margaret Neumann TTEE
1580 Rosita Dr.
Las Vegas, NV 89123
NE956 James Daniel Neville 12.0000 6,000.00
238 Tyrconnell Ave
Massapequa Park, NY 11762
NE961 Katie M. Newton TR 6.0000 3,000.00
Karl L. Newton Custodian
27713 Ann Drive
Columbia Stn, OH 44028
NE963 Brent E. Newton TR 6.0000 3,000.00
<PAGE>
Karl L. Newton Custodian
27713 Ann Drive
Columbia Stn, OH 44028
NE965 Edwin M. Newton IRA 120.0000 60,000.00
710 Airport Way
Independence, OR 97351
NE96L Earl F. & Frances R. Newland 20.0000 10,000.00
Living Trust, Earl F. Newland
& Frances R. Newland, Trustees
8401 Woodcreek
Waco, TX 76712
NI232 Billy Rae Nichols IRA 5.0000 2,500.00
302 Moss Lane
Franklin, TN 37064
NI23G Frank Nicholson 8.0000 4,000.00
2155 Mohawk Street
Las Vegas, NV 89102-3311
NI246 Donna A. Nickel IRA 12.0000 6,000.00
P. O. Box 2024
Winter Park, FL 32790
NO680 Stephen A. Norris IRA 10.0000 5,000.00
Rt. 2, Box 411
Gatesville, TX 76528
NO76B A. G. Edwards Trust Company 26.0000 13,000.00
FBO Dennis Smith FBO Northeast
Georgia Orthopaedic PSP
a/c #93-2450-109
P. O. Box 66734
St. Louis, MO 63166-9884
OA232 Diane O'Connor 10.0000 5,000.00
15628 N.E. 141st Place
Woodinville, WA 98072
OA790 Sandra O'Sullivan IRA 4.0000 2,000.00
16 Tennis Village Drive
Dana Point, CA 92629-4135
OE776 Mildred H. Oerther 50.0000 25,000.00
10401 Kingbrook Lane
Orlando, FL 32821
OE777 Alden A. Oerther Chairtable 50.0000 25,000.00
Remainder Trust u/a/d 10/27/86
Mildred H. Oerther, Trustee
10401 Kingbrook Lane
Orlando, FL 32821
OG577 Thomas R. Oglesby 10.0000 5,000.00
3471 S. Utah Street
<PAGE>
Arlington, VA 22206
OH592 Gloria L. Ohmer IRA 10.0000 5,000.00
P. O. Box 372
Petersburg, AK 99833
OI801 Robert L. Oisten 6.0000 3,000.00
14664 Anchor Court
Holland, MI 49424-5418
OI803 Jenny M. Oisten IRA 6.0000 3,000.00
14664 Anchor Court
Holland, MI 49424-5418
OR633 Carolos R. Orozoco, M.D. IRA 12.0000 6,000.00
343 W. Houston Suite 706
San Antonio, TX 78205
OR960 John F. & Nancy S. Orwig Trust 45.0000 22,500.00
dtd 9/12/85, John Orwig, TTEE
1733 Brookside Blvd.
Largo, FL 33770
OR962 Sally Ann Orwig 8.0000 4,000.00
1733 Brookside Boulevard
Largo, FL 33770
OS590 Alvin A. Osmera IRA 12.0000 6,000.00
7001 Polaris Lane North
Maple Grove, MN 55311-3219
OS815 Frank H. Osterback 20.0000 10,000.00
201 N. Barfield Drive
Marco Island, FL 34145-4205
OS821 Carolyn C. Osterman 20.0000 10,000.00
225 Woodbury Way
Alpharetta, GA 30202
OS850 Joseph A. O'Sullivan IRA 4.0000 2,000.00
16 Tennis Village Drive
Dana Point, CA 92629-4135
OS973 Peter J. Oswald 30.0000 15,000.00
5957 Shepard Hills Ave
Wescosville, PA 18106
OW292 David M. Owen IRA 6.0000 3,000.00
272 Lake Terrace Drive
Hendersonville, TN 37075
PA452 L. Lynn Paige 6.0000 3,000.00
26 Franklin Avenue
Milton, PA 17847
PA571 Craig J. & Bonnie A. Palardy 6.0000 3,000.00
8455 NW 47th Dr.
<PAGE>
Coral Springs, FL 33067
PA575 John R. Palumbo IRA 60.0000 30,000.00
4921 Joaquin Way
Sacramento, CA 95822
PA577 Richard Palumbo 30.0000 15,000.00
3180 Longmeadow
Trenton, MI 48183
PA587 Barbara Palmer Martin 6.0000 3,000.00
2617 Richards Dr.
Waco, TX 76710
PA733 Lloyd E. Pape 10.0000 5,000.00
7927 Braesmeadow
Houston, TX 77071
PA740 Lloyd Pape Architects MPPPL 12.0000 6,000.00
7927 Braes Meadow
Houston, TX 77071
PA741 Lloyd E. Pape IRA 5.0000 2,500.00
7927 Braesmeadow
Houston, TX 77071
PA742 Betty L. Pape IRA 5.0000 2,500.00
7927 Braesmeadow
Houston, TX 77071
PA76V Gerrie Parks 20.0000 10,000.00
6401 Driftwood
Midland, TX 79707
PA775 Jullian N. Parra IRA 6.0000 3,000.00
560 Third Street
Imperial Beach, CA 82032
PA81D John H. Patrick IRA 4.0000 2,000.00
3261 Indian Valley Trail
Atlanta, GA 30341
PA81E Margaret S. Patrick IRA 4.0000 2,000.00
3261 Indian Valley Trial
Atlanta, GA 30341
PA883 Stephen C. & Debra K. Paulson 10.0000 5,000.00
4212 Williston Rd.
Minnetonka, MN 55345
PA982 Kathleen J. Payton Trustee 10.0000 5,000.00
FBO Kathleen J. Payton Trust
dtd 8/24/90
100 Hahnmann Trail #307
Pittsford, NY 14534-2353
PE11C Barbara Pearce 6.0000 3,000.00
<PAGE>
13333 22nd NE
Seattle, WA 98125
PE176 Alan & Eva Pearson 16.0000 8,000.00
14973 Firestone Circle
Orlando, FL 32817
PE364 Stuart Peeke 12.0000 6,000.00
Box 1986
Exeter, NH 03833
PE61E Lewis V. Pentecost IRA 30.0000 15,000.00
c/o Port Lavaca Clinic
1200 North Virginia
Port Lavaca, TX 77979
PE61E Lewis V. Pentecost IRA 50.0000 25,000.00
c/o Port Lavaca Clinic
1200 North Virginia
Port Lavaca, TX 77979
PE61E Lewis V. Pentecost IRA 30.0000 15,000.00
c/o Port Lavaca Clinic
1200 North Virginia
Port Lavaca, TX 77979
PE61G John B. & Linda K. Penter TTEE 10.0000 5,000.00
of The John B. Penter and
Linda K. Penter Family Trust
dated 3-22-94
5410 Ranch Gate Road
Alta Loma, CA 91701
PE623 David F. & Nancy J. Penning 6.0000 3,000.00
1103 Woodland Ave.
Newton, IA 50208
PE76H Hector M. Perches IRA 18.0000 9,000.00
719 University Street
Wharton, TX 77488-2940
PE81F Anne C. Peters IRA 25.0000 12,500.00
3 Westminster Drive
Colts Necks, NJ 07722-1451
PF441 Marion Pfisterer 18.0000 9,000.00
2014 W#indsong Drive #1B
Hagerstown, MD 21740-3337
PH166 Rahul C. Phanindra 10.0000 5,000.00
Channagiri Phanindra Custodian
5391 Potomac Drive
Brecksville, OH 44141
PH167 Rajani Phanindra 10.0000 5,000.00
Channagiri Phanindra Custodian
5391 Potomac Drive
<PAGE>
Brecksville, OH 44141
PH168 Rashmi Phanindra 10.0000 5,000.00
Channagiri Phanindra Cust
5391 Potomac Drive
Brecksville, OH 44141
PH444 Margaret Mosher Phillips Fndtn 20.0000 10,000.00
Margaret or Jack Rosenlund TTE
7506 Currin Dr.
Dallas, TX 75230
PI27B Peter Piersma Trust 40.0000 20,000.00
u/a/d 6/24/97
Jeanne K. Koning, Trustee
3336 Fuller Avenue S.E.
Grand Rapids, MI 49508
PI27B Peter Piersma Trust 20.0000 10,000.00
u/a/d 6/24/97
Jeanne K. Koning, Trustee
3336 Fuller Avenue S.E.
Grand Rapids, MI 49508
PI579 George L. Pilliod Trust 50.0000 25,000.00
George L. Pilliod, Trustee
u/a/d 2/20/85
413 Broadway
Swanton, OH 43558
PI611 Russell M. and/or & Alvina M. 6.0000 3,000.00
Pinger, Trustees, FBO Pinger
Family Trust u/a/d 6-15-92
3921 West 24th Avenue
Denver, CO 80212
PI732 H. Howard Pipes IRA 20.0000 10,000.00
115 Abbywood Drive
Nashville, TN 37215-6145
PL166 Richard W. Plater, M.D. 100.0000 50,000.00
2020 Venetian Way
Winter Park, FL 32789
PO568 Glenda Pokorny 10.0000 5,000.00
10802 Oasis
Houston, TX 77096
PO590 John J. Pomprowitz IRA 40.0000 20,000.00
4962 Williams Drive
Carmel, IN 46033
PO766 Ruth M. Portell 10.0000 5,000.00
5218 Reeds Road
Mission, KS 66202
PO793 Mildred M. Post, Trustee 8.0000 4,000.00
<PAGE>
FBO Mildred M. Post Trust
u/a/d 5-16-85
145 Columbia Avenue #254
Holland, MI 49423-2983
PO793 Mildred M. Post, Trustee 10.0000 5,000.00
FBO Mildred M. Post Trust
u/a/d 5-16-85
145 Columbia Avenue #254
Holland, MI 49423-2983
PO816 Potomac Radiolgy and Imaging 30.0000 15,000.00
Money Purchase Pension
Dr. Steven Mills, Trustee
11562 Lilting Lane
Fairfax Station, VA 22039
PO818 Potts Family Partners 4.0000 2,000.00
3680 Quail Ridge Drive N
Boynton Beach, FL 33436
PO964 Frances C. S. Powers 50.0000 25,000.00
6905 Northwood Road
Dallas, TX 75225
PO967 Louis F. Powell 140.0000 70,000.00
50 Coe Road Apt. #212
Belleair, FL 33756
PO968 Alton L. Powell III 20.0000 10,000.00
& Betty W. Powell TTEES
706 Rock Beauty Rd.
Fripp Island, SC 29920
PO996 Robert & Violet Pozzuto 10.0000 5,000.00
5320 Route 378
Bethlehem, PA 18015-9075
PR221 Bernard J. Prairie Estate 40.0000 20,000.00
Peter M. Prairie, Executor
P. O. Box 1853
Blairsville, GA 30514
PR273 John E. Presley PSP 20.0000 10,000.00
P. O. Box 2065
Palestine, TX 75802
PR284 Harold & Rose Mary Prestenberg 100.0000 50,000.00
c/o Intrepid Enterprises
P. O. Box 1298
Harvey, LA 70059
PR43N Charles W. Prieb IRA 12.0000 6,000.00
Rt 2
Inman, KS 67546
PR43O A. G. Edwards & Sons, Inc. 4.0000 2,000.00
<PAGE>
FBO Naomi E. Prieb IRA
a/c#0257-063283/SEC#841999105
P. O. Box 795068
St. Louis, MO 63179-0795
PR43T Norberto Priu M.D. IRA 20.0000 10,000.00
525 Bay Point Road
Miami, FL 33137
PR43T Norberto Priu M.D. IRA 20.0000 10,000.00
525 Bay Point Road
Miami, FL 33137
PR445 Charles W. & Naomi E. Prieb 10.0000 5,000.00
Route 2
Inman, KS 67546
PR635 IRA LEVY PROCEEDS FBO 70.0000 35,000.00
RICHARD PROKOPEAK
SS####-##-####
P. O. BOX 145566
CINCINNATI, OH 45214
PR727 Paul & Yolande Provence 20.0000 10,000.00
934 Maywood Court
Arroyo Grande, CA 93420
PR855 John J. Pruss IRA 5.0000 2,500.00
4893 NW Bruno Place
Corvallis, OR 97330-2241
PU242 Herbert E. Puckett IRA 5.0000 2,500.00
6109 Stoney Mountain Road
Burlington, NC 27217-7527
PU245 Patsy Puckett IRA 8.0000 4,000.00
6109 Stoney Mountain Road
Burlington, NC 27217-7527
PU76C Thomas J. Purgason Trustee 10.0000 5,000.00
FBO Thomas J. Purgason MD PA
Money Purchase Pension Plan
3600 Matlock Road Suite #100
Arlington, TX 76015-3605
QU484 Quixote Press Employees 50.0000 25,000.00
Pension Trust
8620 Banyan Court
Tamarac, FL 33321
RA592 Donald C. Ramp 10.0000 5,000.00
4441 Emerald Drive
Carrollton, TX 75010-4515
RA593 Asha Ramprasad IRA 8.0000 4,000.00
Rt 5 300 Kingsridge
Tullahoma, TN 37388
<PAGE>
RA600 Dorothy Germaine Sousa,Trustee 6.0000 3,000.00
u/d/t January 21, 1990
7083 Calico Circle
Tallahassee, FL 32303
RA779 Tharen L. Rasey 10.0000 5,000.00
33121 Village 33
Camarillo, CA 93012
RA818 Carol A. Ratzlaff 10.0000 5,000.00
14513 E. 82nd
Buhler, KS 67522
RA819 Paul W. Ratzlaff 10.0000 5,000.00
21502 W. Dutch Avenue
Moundridge, KS 67107
RA847 John W. & Elaine Ratzlaff 12.0000 6,000.00
Rural Route 1
Moundridge, KS 67107
RA848 Ratzlaff Brothers Inc. 20.0000 10,000.00
Rural Route 1
Moundridge, KS 67107
RE277 J. Roger Reehl IRA 5.0000 2,500.00
P. O. Box 3014
Brentwood, TN 37024-3014
RE284 Judith C. Reel 20.0000 10,000.00
179 - 59th Street
Des Moines, IA 50266-2819
RE393 EMJAYCO 52.0000 26,000.00
FBO Regan Insurance Agency,Inc
401(k) Plan #7776
P. O. Box 17909
Milwaukee, WI 53217
RE437 Jean M. Reisch 20.0000 10,000.00
307 Yona Court
Brevard, NC 28712
RE440 Inez E. Reichard, Trustee 10.0000 5,000.00
u/t/a dated 8/5/92
Inez E. Reichard Trust
2090 Elbow Lane
Allentown, PA 18103
RE456 Veronica Reilly Bailin, Co-TTE 6.0000 3,000.00
Paul A. Reilly Trust
473 W. 21st Street
New York, NY 10011
RE458 Vivian M. Reilly Trust 6.0000 3,000.00
dated 6/4/87 Patricia Egan
<PAGE>
and Veronica Bailin Trustees
101 N. Amelia Avenue #127
Deland, FL 32724
RE614 John R. Rentner 30.0000 15,000.00
5662 Olde Post Road
Sylvania, OH 43560
RE953 Cameron R. Revell 7.0000 3,500.00
3531 81st North
St. Petersburg, FL 33710
RE982 Michael C. Reynolds IRA 4.0000 2,000.00
2501 SW 35th Terrace
Topeka, KS 66611
RE983 Susan D. Reynolds IRA 4.0000 2,000.00
2501 SW 35th Terrace
Topeka, KS 66611
RI23F Delaware Charter Guar & Trust 10.0000 5,000.00
FBO Robert L. Ricci M.D. IRA
a/c #RS02657
1700 Lincoln Street #3200
Denver, CO 80203
RI392 Ren T. Riggle IRA 12.0000 6,000.00
10202 Myers Way
Seattle, WA 98168
RI630 Norma J. Rios 10.0000 5,000.00
3468 E. Prescott Circle
Cuyahoga Falls, OH 44223-3511
RI995 Lorrie Ann Rizk IRA 5.0000 2,500.00
47 Wildflower Drive
Sutton, MA 01590-3120
RO203 Leslie Robinson IRA 6.0000 3,000.00
119 Summit Dr.
York, PA 17403
RO21W Linda Smiley Roberts 10.0000 5,000.00
3209 Rolling Knoll Drive
Farmers Branch, TX 75234
RO27C James S. Roessler IRA 4.0000 2,000.00
6635 Buffalo Drive
Sheperd, MT 59079
RO574 Darryl & Karen Rolandelli 10.0000 5,000.00
6502 Lytham Court
Greensboro, NC 27410
RO583 Carolyn A. Rolsten 20.0000 10,000.00
3614 Grennoch Lane
Houston, TX 77025
<PAGE>
RO592 Duane A. Romberg IRA 4.0000 2,000.00
P. O. Box 670036
Chugiak, AK 99567-0036
RO633 Loretta M. Root IRA 8.0000 4,000.00
1295 Eagle Drive
Burlington, WA 98233
RO668 Royas J. & Mary Ann Rosen 6.0000 3,000.00
1122 Drayton
Webster Groves, MO 63119
RO681 Loretta Root & Richard Talbot 20.0000 10,000.00
1295 Eagle Dr.
Burlington, WA 98233
RO750 Tomas Roqueni IRA 4.0000 2,000.00
9076 N. Jessy Lane
Tucson, AZ 85742
RO751 Gloria J. Roqueni IRA 4.0000 2,000.00
9076 N. Jessy Lane
Tucson, AZ 85742
RO799 Mary Martha Roseberry IRA 10.0000 5,000.00
113 Caryl Way
Oldsman, FL 34777
RO79A Darlene Rossell IRA 6.0000 3,000.00
6325 Maggie Avenue
Las Vegas, NV 89131-2021
RO801 Jane F. Rossitto 6.0000 3,000.00
2218 S. Oakland Way
Aurora, CO 80014
RO803 Margaret or Jack Rosenlund 40.0000 20,000.00
7506 Currin Dr.
Dallas, TX 75230
RO974 Monte H. Rowell 36.0000 18,000.00
9608 Mira Del Rio Dr.
Sacramento, CA 95827
RO995 Ann B. Roznovsky 10.0000 5,000.00
7016 Edmond
Waco, TX 76710
RU226 Renee A. Rubenstein Trust 50.0000 25,000.00
Renee A. Rubenstein, Trustee
9111 Cliffwood
Houston, TX 77096
RU610 Cynthia L. Gilbreth IRA 4.0000 2,000.00
6770 Arville Street
Las Vegas, NV 89118
<PAGE>
RY113 Catherine Franklin Ryan IRA 10.0000 5,000.00
1555 Westwood Way
Fairbanks, AK 99709
SA213 James F. Sabatinos IRA 5.0000 2,500.00
19 Mundy Lane
Fredericksburg, VA 22405
SA59B J. Victor Samuels 20.0000 10,000.00
3555 Timmons Lane, Ste. 1440
Houston, TX 77027
SA816 I. A. Sator, M.D. PSP 15.0000 7,500.00
3816 Brick Church Pike
Nashville, TN 37207
SA817 Selmo Satanosky Trustee 20.0000 10,000.00
under The Selmo Satanosky
Revocable Trust Agreement
dated 4-23-93
15100 Tatenshall Trail
Ft. Lauderdale, FL 33331
SA989 Judith W. Sayre IRA 10.0000 5,000.00
331 Harbin Avenue
Waxahachie, TX 75165
SC193 Janet L. Scanlon 60.0000 30,000.00
629 W. Hacienda Dr.
Corona, CA 91720
SC41L Wilbur D. Schiller, Trustee 100.0000 50,000.00
FBO Wilbur D. & Margaret C.
Schiller Revocable Trust Agmt
dated 4/30/90
891 Cypress Trails Drive
Tarpon Springs, FL 34689
SC421 Rolfe A. & Linda Scheffel 16.0000 8,000.00
1130 Sheppard Drive
Fullerton, CA 92831-1823
SC423 Howard I. Scher IRA 4.0000 2,000.00
264 Highwood Avenue
Tenafly, NJ 07670
SC424 Lawrence D. Schwimmer 40.0000 20,000.00
2208 Sutter Street #2
San Francisco, CA 94115
SC425 John N.. Schwartz 10.0000 5,000.00
201 Willow Drive
Jasper, TX 75951
SC426 Phyllis Schwartz 10.0000 5,000.00
9229 Kentucky Oaks Drive
<PAGE>
Las Vegas, NV 89117
SC427 John Schwartz Retirement Plan 6.0000 3,000.00
201 Willow Drive
Jasper, TX 75951
SC428 Fonda Glazer Schwartz 100.0000 50,000.00
5200 Keller Springs, #1517
Dallas, TX 75248
SC430 Judith A. Schreier 6.0000 3,000.00
15 Indian Trail
South
Windsor, CT 06074
SC45C Barbara H. Schoene Estate 50.0000 25,000.00
c/o James P. Valenti
Salomon Smith Barney
P. O. Box 769
Tampa, FL 33601
SC879 Fonda Glazer Schwartz Trust 50.0000 25,000.00
Fonda Glazer Schwartz, Trustee
Trust Dtd 05/09/87
5200 Keller Springs, #1517
Dallas, TX 75248
SE276 Arthur & Margaret Seeger and 20.0000 10,000.00
James H. Hens Trustees under
Revocable Trust Agreement
dated 9-19-94
5991 McKinley Parkway
Hamburg, NY 14075
SE576 John G. Or Sharon S. Sellers 10.0000 5,000.00
138 N. Moon Avenue Apt. "B"
Brandon, FL 33511
SH118 Randy Dale Shamblen 6.0000 3,000.00
262 Glen Hill Drive
Saunderstown, RI 02874-1921
SH163 Rajnikant & Hina Shah 6.0000 3,000.00
26 Hummingbird Lane
Beckley, WV 25801
SH164 Harivadan & Nila Shah 6.0000 3,000.00
5725 Northbrook Drive
Plano, TX 75093
SH283 Walter M. & Virginia Shephard 20.0000 10,000.00
224 Glenwood Ave.
Stratford, CT 06497
SH43K James J. Shields IRA 6.0000 3,000.00
8041 Stonewyck Road
Germantown, TN 38138
<PAGE>
SH444 Pamela J. Shilling IRA 10.0000 5,000.00
3430 Ridgewood Road
Willits, CA 95490
SH484 Estate of Gregory J. Shipley 16.0000 8,000.00
First Tennessee Bank
attn: Trust Securities
165 Madison Avenue - 7th Floor
Memphis, TN 38103
SH489 Norman D. Shirley SEP 4.0000 2,000.00
2625 Alpine Trail
Marietta, GA 30062
SI272 Richard A. & Greta A. Sieg 40.0000 20,000.00
2575 E. Bay Street
Port Angeles, WA 98362
SI426 Gerhard G. Sihler 40.0000 20,000.00
48 Doral Farm Rd.
Stamford, CT 06902
SI574 Jeff A. Silbar MPPP 10.0000 5,000.00
3964 Sunswept Drive
Studio City, CA 91604
SI599 Mary Simko 30.0000 15,000.00
451 Concord
San Antonio, TX 78201
SI59M Alice Simms 6.0000 3,000.00
244 South Street
Bristol, CT 06010
SI607 James C. Sims IRA 4.0000 2,000.00
Box 173
Running Springs, CA 92382
SI623 S. Jonathan & Ruth E. Singer 20.0000 10,000.00
2702 Bordeaux
La Jolla, CA 92037
SI806 Sisters of the Holy Faith Inc. 60.0000 30,000.00
Attention: Sr. Miriam Harney
12322 Paramount Boulevard
Downey, CA 90242
SK110 Donald R. Skaggs IRA 10.0000 5,000.00
515 Sandy Way
Arroyo Grande, CA 93420
SK661 James F. & Ann E. Skory 10.0000 5,000.00
4104 14th Avenue East
Bradenton, FL 34208-9015
SK899 Joseph M. & Mary Ann Skutches 80.0000 40,000.00
<PAGE>
475 Wedgewood Rd.
Bethlehem, PA 18017
SL285 Edward or Ruth Slenk 8.0000 4,000.00
162 West 34th Street
Holland, MI 49423
SM440 John Smith 6.0000 3,000.00
2047 Lombardy Avenue
Nashville, TN 37215
SM456 Douglas L. Smith IRA 4.0000 2,000.00
2909 Kirkcaldy Lane
Birmingham, AL 35243
SM46C David R. Smith IRA 5.0000 2,500.00
P. O. Box 442
Ravendale, WA 98051
SM46F Shirley A. Smith 40.0000 20,000.00
3953 Heatherhill Drive
Bartlett, TN 38135
SM472 Cameron Smith PSP 14.0000 7,000.00
1015 Paladin Ct.
Orlando, FL 32806
SM475 Seymour & Leila R. Smith TTEES 6.0000 3,000.00
of the Smith Trust dtd 5/30/91
30711 Ganado Drive
Palos Verdes, CA 90274
SN434 Virgel E. Snider 6.0000 3,000.00
3032 Crib Point Drive
Las Vegas, NV 89134
SN448 David C. Snitselaar 10.0000 5,000.00
1708 3rd Avenue SE
Cedar Rapids, IA 52403-2310
SN992 Wilbur M. & Goldie M. Snyder 10.0000 5,000.00
RD #1
Watsontown, PA 17777
SO571 Dolores M. Soll Living Trust 12.0000 6,000.00
u/a/d 9/15/98
Dolores M. Soll, Trustee
2297 Blvd. Del Campo
San Luis Obispo, CA 93401
SO581 John Sole IRA 5.0000 2,500.00
7394 Whitland Lane
Athens, OH 45701-9600
SO850 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
<PAGE>
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 18.0000 9,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 40.0000 20,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 7.0000 3,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
<PAGE>
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 16.0000 8,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
<PAGE>
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 3.0000 1,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 18.0000 9,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 3.0000 1,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
<PAGE>
SO850 Southwest Royalties, Inc. 46.0000 23,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 25.0000 12,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 200.0000 100,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 70.0000 35,000.00
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P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 8.0000 4,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 32.0000 16,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 100.0000 50,000.00
P. O. Box 11390
<PAGE>
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 250.0000 125,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 44.0000 22,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 14.0000 7,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
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SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 13.0000 6,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 14.0000 7,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO850 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO857 Jean Soussan IRA 12.0000 6,000.00
5433 Westheimer Ste 1105
Houston, TX 77056
SO900 Southwest Royalties, Inc. 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
<PAGE>
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 60.0000 30,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 14.0000 7,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 8.0000 4,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
<PAGE>
Midland, TX 79702
SO900 Southwest Royalties, Inc. 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 18.0000 9,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 60.0000 30,000.00
P. O. Box 11390
Midland, TX 79702
<PAGE>
SO900 Southwest Royalties, Inc. 8.0000 4,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 7.0000 3,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 58.0000 29,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 28.0000 14,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 16.0000 8,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
<PAGE>
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 40.0000 20,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 9.0000 4,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 80.0000 40,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 80.0000 40,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 7.0000 3,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
<PAGE>
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 40.0000 20,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 9.0000 4,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
<PAGE>
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 18.0000 9,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 14.0000 7,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 7.0000 3,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
<PAGE>
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 8.0000 4,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 13.0000 6,500.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 Southwest Royalties, Inc. 8.0000 4,000.00
P. O. Box 11390
Midland, TX 79702
SO902 Jean Soussan 20.0000 10,000.00
5433 Westheimer Ste 1105
Houston, TX 77056
SP114 Mary Frances Sparkman 10.0000 5,000.00
2144 Gorham Place
Germantown, TN 38138
SP199 Robert & Wilma Spaugy 10.0000 5,000.00
4535 E. 8th Avenue
Anchorage, AK 99508
SP480 Morris & Helga I. Spizman 10.0000 5,000.00
5006 McCloskey Court
Santa Rosa, CA 95409
SQ852 Thurston W. & Shirley Squires 100.0000 50,000.00
2924 Marathon Ave.
Orlando, FL 32805
SR630 Cushla M. Srour IRA 5.0000 2,500.00
R.D. #8 Box 14-A
York, PA 17403
SR631 James W. Srour IRA 5.0000 2,500.00
R.D. #8 Box 14-A
York, PA 17403
ST124 Edmund W. Stahl IRA 20.0000 10,000.00
4338 Acacia Avenue
Bonita, CA 92024
ST12A Joseph D. Staley IRA 4.0000 2,000.00
6144 Thornbury Court S.E.
<PAGE>
Lacey, WA 98513
ST175 Edmund W. & Gloria M. Stahl 20.0000 10,000.00
Trustees UTD 8/24/88
4338 Acacia Ave.
Bonita, CA 92002
ST176 David R. Stager MD IRA 100.0000 50,000.00
8201 Preston Road # 140A LB230
Dallas, TX 75225
ST183 Jacquelyn Stallman 10.0000 5,000.00
P. O. Box 543
Kirkland, WA 98083-0543
ST268 Laurie K. Steen IRA 4.0000 2,000.00
4417 E. Mountain View
Phoenix, AZ 85028
ST27U Wilmer Stevenson IRA 30.0000 15,000.00
#3 Overbrook Court
Wimberly, TX 78676-2702
ST281 Eleanor C. Stevens 40.0000 20,000.00
Revocable Trust
3609 Grayton Drive
New Port Richey, FL 34652
ST293 Rebekah G. Stewart, Custodian 15.0000 7,500.00
FBO Sarah Grace Stewart
UTMA AR21
1306 NW 9th
Bentonville, AR 72712
ST29R Marguerite Steedman IRA 10.0000 5,000.00
4204-146th Street NW
Gig Harbor, WA 98332
ST353 Donald Ray Stevens IRA 4.0000 2,000.00
1040 Hedge Lane
Marietta, GA 30066-5552
ST360 Anne J. Stewart 300.0000 150,000.00
c/o U.S. Trust Co. of Texas NA
Attention: Brad Carson
2001 Ross Avenue, Suite 2700
Dallas, TX 75201
ST656 Jere G. Stocksdale 20.0000 10,000.00
2500 Lee Road #109
Winter Park, FL 32789-1703
ST686 Judith A. Stonehill 40.0000 20,000.00
730 Mendon Ionia Road
Honeoye Falls, NY 14472
ST757 Victor & Margaret Strand 30.0000 15,000.00
<PAGE>
5351 Brokenhill Ct.
Yorba Linda, CA 92686
ST769 Heidi Strickland IRA 5.0000 2,500.00
2101 Cottonwood
Grand Prairie, TX 75050
ST76O Rodney Strachan TTEE 16.0000 8,000.00
FBO Rodney Strachan M.D., Inc.
Retirement Trust
11632 Ranch Hill
Santa Ana, CA 92705
ST775 David P. Street MPP 4.0000 2,000.00
2442 N.W. Market St. #202
Seattle, WA 98107
ST786 Leslie H. Strong IRA 4.0000 2,000.00
1120 E. Las Tunas Drive #H
San Gabriel, CA 91776-1739
ST981 James W. Styler IRA 20.0000 10,000.00
18911 Talarik Drive
Eagle River, AK 99577
SU548 Barbara A. Sukkel 18.0000 9,000.00
3001 Ripon Drive
Las Vegas, NV 89134
SU582 Kathleen A. Sullivan 2.0000 1,000.00
9250 Riveredge Drive
Cordova, TN 38018
SU815 Nancy C. Sutherlin Trustee 10.0000 5,000.00
of the Nancy C. Sutherlin
Trust UA dated 1-28-94
69 Myrtle Road
Woodstock, GA 30189-1447
SW169 William E. & Pauline Swan 10.0000 5,000.00
1419 Porto Bello Ct.
Arlington, TX 76012
SW207 Ronald R. & Dawn D. Swartz 10.0000 5,000.00
18045 Jorene Road
Odessa, FL 33556
SW273 Eugene F. Sweeny IRA 10.0000 5,000.00
4450 NW 24 TERR
Boca Raton, FL 33431
SZ177 Gyula Szalay 6.0000 3,000.00
7821 Linda Vista Road #19
San Diego, CA 92111
TA386 Edward P. Taft IRA 10.0000 5,000.00
9 Berkeley Rd.
<PAGE>
Wellesley, MA 02181
TA578 Richard B. Talbot IRA 15.0000 7,500.00
1295 Eagle Drive
Burlington, WA 98233
TA984 Tax Advantaged Partners IV 30.0000 15,000.00
Joseph S. Deitch
One University Office Park
29 Sawyer Road
Waltham, MA 02154-3423
TA993 Larry J. Taylor 10.0000 5,000.00
1090 Hardeman Mill Road
Madison, GA 30650
TA994 Donald R. & Elizabeth Taylor 10.0000 5,000.00
854 Greenbriar Ave.
Simi Valley, CA 93065
TE379 Richard M. Tefft IRA 4.0000 2,000.00
19640 E. Charline PL
Rowland Heights, CA 91748
TE410 Mary Ellen Tehan 10.0000 5,000.00
12507 Elm Country Lane
San Antonio, TX 78230
TE807 Marvin & Rhoda Tessler 10.0000 5,000.00
323 Christopher Street
Oceanside, NY 11572
TH186 B. David Thames IRA 5.0000 2,500.00
408 N. Person Street
Raleigh, NC 27601
TH187 June C. Thames IRA 5.0000 2,500.00
408 N. Person St.
Raleigh, NC 27601
TH188 B. David & June C. Thames 20.0000 10,000.00
408 N. Person Street
Raleigh, NC 27601
TH63W James M. Thorne IRA 8.0000 4,000.00
713 Chopin Drive
Sunnyvale, CA 94086
TH64K Thomas J. Thompson IRA 9.0000 4,500.00
2066 Westover Plantation
Dunwoody, GA 30338
TH676 Rena M. Thomison 10.0000 5,000.00
204 Hillwood Blvd
Nashville, TN 37205
TH877 William E. Thunberg IRA 5.0000 2,500.00
<PAGE>
169 Royal Coach Lane
Mooresville, NC 28115
TI250 Tidewater Psychotherapy Serv. 16.0000 8,000.00
Attn: Edward R. Nichols
256 N. Witchduck Road, Ste. G
Virginia Beach, VA 23462
TI578 Mrs. Juanita M. Tiller 50.0000 25,000.00
5906 Glen Heather
Dallas, TX 75252
TI836 Nancy B. Titone 20.0000 10,000.00
4 Granite Road, Alapocas
Wilmington, DE 19803
TO579 Gary M. & Jacqueline Tolin 10.0000 5,000.00
International School of Japan
1-1-1, NOMIZU, CHOFU-SHI
TOKYO 182
JAPAN
TO579 Gary M. & Jacqueline Tolin 8.0000 4,000.00
International School of Japan
1-1-1, NOMIZU, CHOFU-SHI
TOKYO 182
JAPAN
TO730 Margaret R. Topping 5.0000 2,500.00
178 Longview Heights
Athens, OH 45701
TO974 Bobye W. Townsend IRA 4.0000 2,000.00
200 St. Andrews Blvd #3202
Winter Park, FL 32792
TO981 Elva C. Toups IRA 21.0000 10,500.00
500 Yetta Steet
Harvey, LA 70058
TO981 Elva C. Toups IRA 18.0000 9,000.00
500 Yetta Steet
Harvey, LA 70058
TO987 Bette J. Tozer IRA 100.0000 50,000.00
901 Kings Road
Newport Beach, CA 92663
TR283 Gay A. Treadwell 20.0000 10,000.00
1816 Lorean
Enid, OK 73703
TR438 Doris P. Triplett IRA 10.0000 5,000.00
548 N. Main Street #110
Ashland, OR 97520
TR456 Trim-Lok, Inc. 40.0000 20,000.00
<PAGE>
P. O. Box 6180
6855 Hermosa Circle
Buena Park, CA 90622-6180
TR669 Kathryn C. Trost 40.0000 20,000.00
20 Fairway West
Colts Neck, NJ 07722
TU224 Leonard & Juliet Tubergen 12.0000 6,000.00
Karl Tubergen
173 Grandview Avenue
Holland, MI 49423
TU766 Rebecca G. Tucker 20.0000 10,000.00
3216 Silver Sands Circle
Unit #301
Virginia Beach, VA 23451
TU76J Martha A. Turnage IRA 5.0000 2,500.00
3800 Treyburn Drive #B122
Williamsburg, VA 23185-2878
TU791 Michael B. Tusa IRA 4.0000 2,000.00
2008 Edenborn Ave.
Metaire, LA 70001
UR226 Martin & Mary Urbas 10.0000 5,000.00
343 Grist Mill Drive
Basking Ridge, NJ 07920
VA617 Robert Tate & Wandahlea Vance 6.0000 3,000.00
Cypress Cove at Suntree
7667 N. Wickham Road Apt. 314
Melbourne, FL 32940
VA61K Margaret C. Vandiver 4.0000 2,000.00
317-4 S. Shoreline Drive
Liberty Lake, WA 99019
VA621 Sandra Van Velsor IRA 17.0000 8,500.00
4793 Winchester
Memphis, TN 38118
VA627 John B. Van Why II 6.0000 3,000.00
608 33rd Street
West Des Moines, IA 50265
VA856 John W. Vaughn IRA 20.0000 10,000.00
1413 Bunkerhill Road
Brentwood, TN 37027
VA934 P. Bryon Vaughn M.D. 6.0000 3,000.00
107 Sandy Oaks
Boerne, TX 78006
VI231 Helen L. Vick 6.0000 3,000.00
104 Phantun Lane
<PAGE>
Bellaire, TX 77401-2607
VI233 Victoria Women's Clinic 100.0000 50,000.00
605 E. San Antonio, Ste. 310 E
Victoria, TX 77901
VI586 Donald J. Villere IRA 4.0000 2,000.00
584 Park Avenue
Manderville, LA 70448
VI810 Irene C. Vitiello and David 30.0000 15,000.00
Vitiello I.C.V. and Successor
Trustees of I. Vitiello
Nominee Trust dated 4-20-89
32 Spring Street
Somerville, MA 02143
VO432 Wendelin J. Voigt IRA 5.0000 2,500.00
21920 S.R. 530 N.E.
Arlington, WA 98223
WA256 Velda M. Waddington 10.0000 5,000.00
4503 S.E. 4th Place
Renton, WA 98059
WA266 Charles M. Waddell 6.0000 3,000.00
2601 May Dr.
Burlington, NC 27215
WA399 Craig Wagoner IRA 5.0000 2,500.00
3115 Sedgefield Gate Road
Greensboro, NC 27407-6104
WA531 Brooks Waldman 10.0000 5,000.00
340 Bellaire
Denver, CO 80220
WA572 William J. Wall 40.0000 20,000.00
15 Cedar St.
Riverdale, NJ 07457
WA57B M. Ellsworth Walker IRA 40.0000 20,000.00
3524 Grand Avenue
Des Moines, IA 50312
WA762 Alfred B. & Louise A. Warren 80.0000 40,000.00
1150 SW Chapman Way #308
Palm City, FL 34990
WA76S Gaylee P. Warner IRA 4.0000 2,000.00
E 9603 1390th Street
New Auburn, WI 54757
WA816 John T. Watson Trust 4.0000 2,000.00
u/t/d 12/9/85
418 Silverado Trail
Waukee, IA 50263
<PAGE>
WA81U Robert Bruce Watson IRA 10.0000 5,000.00
7175 FM 2494
Athens, TX 75751
WE116 Janet Weakman Trustee 16.0000 8,000.00
under Weakman Trust
13223 N. 2760 E. Road
Forrest, IL 61741
WE11C Allen B. Weaver IRA 6.0000 3,000.00
15753 Balmoral Court
Strongsville, OH 44136
WE140 Robert P. & Gail S. Weaver 10.0000 5,000.00
and their successors, as
Trustees of the Weaver Family
Trust dtd July 3, 1989
Rt. 2 Box 800
Blanchard, ID 83804
WE211 William J. Webb Jr. 20.0000 10,000.00
4021 County Line Road
Carson City, NV 89703
WE226 Celia R. Webb 24.0000 12,000.00
4109 Legend Hall Dr.
Nashville, TN 37215
WE256 Capt. Thomas & Joan Wedgewood 20.0000 10,000.00
3628 Carter Rd.
Portsmouth, VA 23703
WE43X Ann Dickerson Weiss IRA 6.0000 3,000.00
4151 E. Northhampton Place
Houston, TX 77098
WE571 John D. Welsh IRA 8.0000 4,000.00
5375 Gamblewood Road NE
Kingston, WA 98346-9511
WE57F Mary Wellman 1.0000 500.00
506 Arbutus Drive East
Roanoke Rapids, NC 27870
WE57F Mary Wellman 3.0000 1,500.00
506 Arbutus Drive East
Roanoke Rapids, NC 27870
WE57P Terry P. Welsh IRA 5.0000 2,500.00
P. O. Box 6261
Ketchikan, AK 99901
WE61B Bruce K. Wentworth IRA 5.0000 2,500.00
8266 Rock Riffle Road
Athens, OH 45701-7656
WE788 H. Kenneth West IRA 6.0000 3,000.00
<PAGE>
2417 Willow Springs Court
Apopka, FL 32712-2585
WH432 E. L. Whitting Sr. Trust 10.0000 5,000.00
u/a/d 8/31/89
Edward & Arlene Whitting TTEES
13181 Lampson Avenue #503
Garden Grove, CA 92840
WH437 James W. White 20.0000 10,000.00
4745 N. Hampton Drive
Jackson, MS 39211
WH462 Jonathan Henry Whitehouse 10.0000 5,000.00
Susan E. Whitehouse Custodian
8747 US Hwy 87 North
Victoria, TX 77904-4110
WI404 Stephen & Cheri Wiggins 10.0000 5,000.00
1900 Park Valley Dr.
Columbus, IN 47203
WI572 Garrett J. Williamson IRA 20.0000 10,000.00
8281 Juanita Dr.
Olive Branch, MS 38654
WI580 James W. Williams IRA 16.0000 8,000.00
9260 Winding Oak Drive
Fair Oaks, CA 95628-4173
WI584 Darren L. & Barbara Williams 20.0000 10,000.00
90 Sequoyah Drive
Chatsworth, GA 30705
WI587 Richard S. Wilkenfeld, M.D. 20.0000 10,000.00
TTEE Richard S. Wilkenfeld MD
P. A. Pension Plan
800 Riverwood Court, Suite 102
Conroe, TX 77304
WI59P Jeffrey S. Williams 10.0000 5,000.00
640 Pine Avenue
Oviedo, FL 32765
WI618 Eileen C. Winchell IRA 4.0000 2,000.00
4441 NW 8th Street
Coconut Creek, FL 33066
WI61A Larry G. Winchell IRA 4.0000 2,000.00
4441 NW 8th Street
Coconut Creek, FL 33066
WI61C Clifford M. Winter IRA 20.0000 10,000.00
2439 S. Krameria St.
Denver, CO 80222
WI81A Gene Witiak IRA 20.0000 10,000.00
<PAGE>
4313 Kathi Drive
Bethlehem, PA 18017
WO573 Dennis P. Wolf IRA 10.0000 5,000.00
1009 W. Tam O'Shanter
Kansas City, MO 64145
WO578 Charles F. & Darryl A. Wolcott 10.0000 5,000.00
Co Trustees u/d/t dtd 8/16/90
FBO The Wolcott Family Trust
2659 Samantha Court
Simi Valley, CA 93063
WO635 Patricia Clesi Wood 6.0000 3,000.00
311 Bella Drive
Metairie, LA 70005
WO63D Betty J. Woods IRA 10.0000 5,000.00
2917 West Lake Cove
Austin, TX 78746
WO63E Paul H. Woods IRA 10.0000 5,000.00
2917 West Lake Cove
Austin, TX 78746
WO646 Corrine E. Wood 10.0000 5,000.00
463 Glendale Drive
Metairie, LA 70001
WO64R Paul Mark Woods 20.0000 10,000.00
6509 W. Lamar
Austin, TX 78752
WO762 Word Communication Systems 10.0000 5,000.00
Profit Sharing Plan
P. O. Box 308
Ellington, CT 06029
WR439 Lorraine C. Klinger 6.0000 3,000.00
27 Brookcrest Drive N.E.
Marietta, GA 30068
YA183 Ralph & Raffaella Yates 30.0000 15,000.00
989 Oriole Dr.
Laguna Beach, CA 92651
YE810 Elizabeth A. Yetter Revocable 20.0000 10,000.00
Trust u/a/d 6/28/95
1022 Near Ocean Drive
Vero Beach, FL 32962
YO922 Charles H. Young 5.0000 2,500.00
2693 Hillside Drive
Higland Village, TX 75077-8652
YU230 Paul E. Yucius IRA 9.0000 4,500.00
674 Jamestown Blvd. #1329
<PAGE>
Altamonte
Springs, FL 32714-4650
ZA241 Josephine Zack 30.0000 15,000.00
1031 Gould Place
Oviedo, FL 32765
ZI606 Paul H. Zimmerman 20.0000 10,000.00
3732 Tiger Eye Court
Mulberry, FL 33860
1062 Total Investors 20,000.0000 10,000,000.00
