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U. S. Securities and Exchange Commission
Washington, D. C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940.
1. Name and Address of Designated Filer
Southwest Royalties, Inc.
407 N. Big Spring Street
Midland, TX 79701
2. Issuer Name and Ticker or Trading Symbol
Southwest Royalties Institutional Income Fund VII-B, L.P.
3. IRS or Social Security Number of Designated Filer
75-1917432
4. Statement for Month/Year
May 2000
5. If Amendment, Date of Original
N/A
6. Relationship of Designated Filer to Issuer
Southwest Royalties, Inc. as Managing General Partner, of
the issuer.
7. Individual or Joint/Group Filing
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
TABLE I
1. Title of Security
Limited partnership interest
Units
Date Code Units Acquired Price Owned Ownership Nature
---- ---- ----- -------- ----- ----- --------- ------
05-26-00 P 5.00 A $123.86 1,920.50 I *
05-19-00 P 30.00 A $123.86 1,950.50 I *
05-19-00 P 4.00 A $123.86 1,954.50 I *
05-26-00 P 8.00 A $123.86 1,962.50 I *
05-26-00 P 9.00 A $123.86 1,971.50 I *
05-26-00 P 4.00 A $123.86 1,975.50 I *
05-26-00 P 7.00 A $123.86 1,982.50 I *
05-26-00 P 20.00 A $123.86 2,002.50 I *
05-30-00 P 5.00 A $123.86 2,007.50 I *
05-30-00 P 5.00 A $123.86 2,012.50 I *
* Southwest Royalties, Inc. as Managing General Partner, of the issuer.
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SIGNATURES
By: /s/ J Steven Person By: /s/ H.H. Wommack, III
---------------------------------- ------------------------------
Signed on behalf of Southwest H.H. Wommack, III, President,
Royalties, Inc. the Managing CEO, Treasurer and Director of
General Partner of the issuer Southwest Royalties, Inc. the
by J Steven Person, Vice President Managing General Partner
of Marketing and CFO
Date: June 8, 2000 Date: June 8, 2000
By: /s/ J Steven Person By: /s/ H. Allen Corey
---------------------------------- ------------------------------
J Steven Person, Vice-President of H. Allen Corey, Secretary and
Marketing and CFO of Southwest Director of Southwest Royalties,
Royalties, Inc. the Managing General Inc. the Managing General Partner
Partner
Date: June 8, 2000 Date: June 8, 2000
By: /s/ Paul L. Morris By: /s/ Jon P. Tate
---------------------------------- ------------------------------
------
Paul L. Morris, Director of Jon P. Tate, Vice-President of
Southwest Royalties, Inc. the Land and Assistant Secretary
of
Managing General Partner Southwest Royalties, Inc. the
Managing General Partner
Date: June 8, 2000 Date: June 8, 2000
By: /s/ R. Douglas Keathley
------------------------------------
R. Douglas Keathley, Vice-President
of Operations of Southwest Royalties
Inc. the Managing General Partner
Date: June 8, 2000
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ATTACHMENT
Designated Filer:
Southwest Royalties, Inc.
Issuer Name and Ticker or Trading Symbol:
Southwest Royalties Institutional Income Fund VII-B, L.P.
Statement for Month/Year
May 2000
Reporting Persons of Group Filing:
----------------------------------
Name of Reporting Person Street Address
Social Security Number City, State and Zip Code
------------------------ ---------------------------
Wommack, H. H. III 407 N. Big Spring Street
###-##-#### Midland, TX 79701
President, CEO, Treasurer and Director of Southwest Royalties, Inc. the
Managing General Partner.
Person, J Steven 407 N. Big Spring Street
###-##-#### Midland, TX 79701
Vice-President of Marketing and Chief Financial Officer of Southwest
Royalties, Inc. the Managing General Partner.
Corey, H. Allen 633 Chestnut Street
###-##-#### Chattanooga, TN 37450-1800
Secretary and Director of Southwest Royalties, Inc. the Managing General
Partner.
Paul L. Morris #7 Saddle Club Drive
###-##-#### Midland, TX 79705
Director of Southwest Royalties, Inc. the Managing General Partner.
Tate, Jon P. 407 N. Big Spring Street
###-##-#### Midland, TX 79701
Vice-President, Land and Assistant Secretary of Southwest Royalties, Inc.
the Managing General Partner.
Keathley, R. Douglas 407 N. Big Spring Street
###-##-#### Midland, TX 79701
Vice-President of Operations of Southwest Royalties, Inc. the Managing
General Partner.
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