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Page I o r 1

Carol PuckettFrom:Sent:To:

Carol PuckettFriday, December 18,20092:05 PMMark Hendrix

Subject: FW: Attached ImageAttachments: 2117_001.pdf

These were tIle initial 526.527 letter request forms we received for the Investment credits.

From: canonl@oktax,state.ok.u5 [maHto:canonl@oktax,state.ok,us]Sent: Wednesday, October 21, 20092:37 PMTo: Carol PuckettSubject: Attached Image

2 /2512010

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December f2 2006

Re:D ear M r.

closed its Fund with a total Preferred Unit investment ofan d a cre dit facility o f ~ 'ri " . - -' or a total Fund size of:I a po lo gi ze fo r th e delay, bu t w e have w aite d on the O klahom a T ax Commission to provide usw ith c urre nt fo rms ,In order for Preferred U nit H olders to rece ive a tw o tor one tax credit, the Fund must return. T his w ill be returned pro rata am ong the Fund's tw enty investors. Y our Preferred U nitin ve stm e nt re pre se nts 3 6.7 37 7% of th e Preferred Units.'. Y ou should reduce your cost basis in the P re fe r red Un it s by this am ount. T his will assure .yo u o f a 2 00% re turn o n y our in ve stm en t.Enclosed are tw o O klahom a T ax C ommission Form s 526A and one Form 526, w hich you willn ee d fo r y ou r cre dits .1''hA Fllnri ;n""'''f~d in th e f ol low in g P or tfo lio Compan ie s:

. W e w ill furnish you w ith financials and other inform ation on the PortfolioCompanies, the F un d a nd th e C ap ita l C omp an y whe n th e fin an cials h av e b ee n c omp le te d.O n b eh alf of all o f th ose a ss ocia te d with , we thank you for investing w ith us. W eth in k th at y ou r i nv es tmen ts wiII p ro vid e y ou ad ditio na l re tu rn , a s w e ll a s some u se fu l K -l b en efits .I w an t to cau tio n y ou th at th is tax cre dit can o nly b e use d to re co ve r o r p ay g ro ss p rod uction taxe sas w ell as in come , in surance premium an d b an k fran ch ise tax es w hich w ere p aid o r pay able b y th e e ntitypurchasing the Fund Tax Credits.T ha nk y ou v ery m uch and if y ou h av e any q ue stio ns, p le as e d o n ot h es itate to c all.

You rs t ru ly ,

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, , ' " ! - : _ : , " , " >'\:. ~..' ,". : , ,' i :' . ' :. '

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Oat!!' of Invo,lImtntTotal InVo&tmGnt tn , o r In c.onJucllonw ith . Ih o R ural Small B usfnllS SCapit al C ompa ny

Tolal CrQ(l l t AvaUalllo(Column :Ix 3 0 0/. ) C ro c: llt A llo wa b fo In 2 0 06

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Rural Small Business Capital CompanyReport for Investors

Tax Y ear 2006~~26-AIN am e o f In ve sto r; N am e of R ura l S mall B usiness C apital Com panyI den tif ic a tio n Number Id entif ic a tio n Number .

AddressCity Address ..... --.~._-----------Part J ' . . . . ' . . . ; : . . ' : : . : , . : : . ; " . : . . . . " . . . ' . . . ' . : : . . : : . ' . ' . .._ . . '. . . . " ". . . ,.

. ., . .. . '. ',.' ',. . . . :', : .'. .',

.. ~:;:: '. : :". .!.:.:':. . '.:: .': ;:' ... ~~ . ;. I .:. , .; ..' ". : . ", :i

Cily --,-_ State_._~ Zip:

Total credit allowable in 2005 b- ~Carry till) c re d it c la im e d t his y ea r to F orm 5 11 CR . If th o e n ~ re c re dit Is n ot b eIn g daimed t his y ea r, c omp le te P a rt U f or t he s ub s eq ue nt c a rr yo ve r y ea rs .U n de r p en alt ie s o f p elju ry , I d e c la re !h at I h av e e xam ln ed lt tls r et ur n, Indudlng a c comp an yin g s ta teme nt s, a n d t o t he b a st o f m y k noW le d ge a nd b eRe f Itla tnre , accurate and com plete . .- ,

- - 1

1. Total cred it a llowable in 2005 1.2. Credits used in p rio r y ea rs :

> . . . "' ." ... ' ~ I : I !::' :!~ . ; ' - i; .: ':(a) 2005 $(b) 2006 $(c ) 2007 $(d) 2008 $(e ) 2009 $

.. ... > . . : ~ ~ ~ ~

.. I~;_\~~;: '; ; : .t '~~:: . . " :(f) 2010 $(g } 2011 $(h ) 2012 $(I) 2013 $( j ) 2014 $

Tota l cred its used prior to this year 2 .3. Unused credit avaHabie (line 1 tess line 2) , 3.4. C red it c la im ed this year, . {carry t o Form 511CR) 4.5. Unused ba lance carryover (line 3 less line 4) (ten year carryover lim it) 5.

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March 5,2007

RE:Dear

investment in vartous Oklahoma SmallBusiness Ventures entitfed the members of the Fund to 'tax credits'. Your 2006 investment in th e Fund entitles you to a pro-rata tax creditallocation of . This credit is reflected on the enclosed Oklahoma Form51 1 C R. You m ay h ave add ttlona l tax c re dits fro m other so u roes depend ing on you rspecific tax situation. Your officiql tax fHing document, Form K"1, will be issued and... mailed atalater date, If you wish to use your credits pefqrE:l.Y0ureceiveyoyrK-1, .please attach a copy of this letter with your tax filing. We encourage you to consult witha ta x p ro fe SS io na l in claiming y ou r c re d its ,An inform ation Form 526-A for is enclosed, Itreflects the total lax credits for all investments in the various target companies. The526~A is for informational purposes only and is not to be used for tax filing.P lease direc t a ny questions tha t you may have to m y a ttention at:

Sincerely,

Enclosures

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State of OklahomaR UR AL SM ALL BUSlNESS CA PI! A L COM PA NYR EPO RT FO R INVE STO RS

TAX YEAR 2006~~26:AIIdentification Number_

Name o f R u ra l Sm a i! B u sin es s Capital CompanyName o f I nv es to rAddress __~_,_ --.-,,-"'_"-,,~..-,_--_ ..--.-~~-.,----

____ S ta t0 __ Z 1 p ._ _ , . _ " .. .. .. .. Address ~ __ - - - __ ,~ _ .__ ._.. "._ ._

Total credit al lowable in 2 00 6 k - ~ - - - - - - - - - - - - - - - - - - - 4anv 1he creJlt C laim ed this year to Form 511C R If the (lnlifE: crod!! 1$1101 h li in g c ia im (l d t hi s yellr c om ple te P ar t II for the s ub se que nt c ar ry ov er \'< $a rs ,Unde r p e na lt le s o f p e rju ry , I d e cia r e 1I1

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March 1,2007

SUBJECT: Tax CreditsREFERENCE:Dear InvestorThe Fund's investment in (target company-formerly known asentitled the members of the lfund to tax credits. P ursu an t to the .F...nd's Operating Agreement, yo~rA,pril~006 Investment entitles youto a pro-rata tax credit allocation of . Your official tax filing document, K-l, will beissued and mailed after the first of the year. If yon wish to use your credits before you receiveyonr Kwl, please attach a copy of this letter with your tax filing.An informational 200() Form 526A for is enclosed. It reflects thetotal tax credits for ALL investments in the target company for 2006. The 526A is forinformational purposes only and is not to be used for tax filing.Thank you for your investment inhesitate to contact our If you have any questions, please do 1I0t

nest Regards

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State of OklahomaR URAL SMALL BUSINESS C A PITA L COMPANYREPORT FOR INVESTORS

TAX YEAR 200 ~526-Name of Investor Name of Rural Small Business Capital CompanyAdd re ss ; ---- .. .~--...----

Identification Number _ ._ . _ .

Clty _ ---- _ . _ - - _ _ _ ..-._--_--_._--Identification Number ...__

Total credit allowable in 2006C arry th e c re dit c la im ed this y eilr 1 0 F orm 5 11 CR . If !Ile e ntire c re dit is not b eing c I~ e,9..I';J !i1 }a r, _ ;;o mp ~~ e P al1 H lor t he s u bse quen t carryover years ,Under penallles of p orJury, I dec la re lha! I have exam ined th is re turn, ir and to the best 01 my know ledge < lnU be lie ! iIs tr ue , a cc ur ate a nd c om p le te ,

Total credit allowable In 2006 .,."".", ,., " .. ,."" " " ,.,..__ , ",,,.,.1,2, Credits used in prior years:

(b ) 2007 $(a ) 2006 $

(c ) 2008 $

Total credits u se d p rio r to this year " " ." ..", : , 2 .3, Unusedcredit available(line 1 less line 2) , , ," , 3.4. Credit claimed this year, 2005 (carry to Form 511CR) """ ..,,, ,,,, 4.5. Unused balance carryover(line 3 less line 4) (three year carryover limit) ", 5,

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Sate of OklahomaRURAL SMALL BUSINESS CAPITAL COMPANYR E p O R T F O R I N V E S T O R S

TAX YEAR 2006~.'.-"---l~._526-AA copy of this form must be enclosed with the investor's income tax return if the credit is .claimed.This form must be furnished to the investor by January 31st. See Instructions for further infonnation

Identification Number I de n tif ic aUon Number.

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May 4, 2007HAND DELIVE I{EOJohn Cottengim, Auditor Claims UnitAudit Division, Gross Production Tax DivisionOklahoma Tax Commission2501 N. Lincoln B1vd.Oklahoma City, OK 73194

Re:

Reference is made to a request for refund of gross production tax filed on behalfof on January 29, 2007 (the "C laim for Refund"). Under cover of aletter dated February 26, 2007 (the "Information Request"), a copy of which is enclosed, yourequested that additional information be submitted with the Claim for Refund. By letter dated.. April J 8. ,2007 ( the .Ex tens ion Letter"),you agreed to extend. the. da te by which

is required to provide the requested information. Following discussions with Mr.Tony Mastin, Administrator, Oklahoma Tax Commission, and Mr. Mark Hendrix, we believe theattached report showing well names, legal description and percentage of interest in each well (the"Well Report") is responsive to your request for add it ional i nf ormat ion . Please note that theWeII Report also provides totals by county.

Im enclosing with this letter the following:1. the Well Report;2. the original Claim for Refund which was returned to us under cover of theInformation Request;3. a cop y o f the Inform ation Request; and4. a copy of the Extension Letter.If we can provide additional information or if you have any questions, please do

not hesitate to contact me.Very truly yours,.

Enclosures

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January 2 9, 20 07

HAND DEL IV EREDM r. T ony M astinD irector of Tax Policy and R esearch D ivisionOklahoma Tax Commission2501 N. LincolnOklahoma City, OK 731 94

Re: Rural Venture Capital Formation IncentiveAc t - _Reques t for R efund of G rossP ro du ctio n T ax

Dear M r. Ma stin :.'.".'.The purpose of this le tte r is to request a refund of gross product jon taxes andpetroleum excise taxes that w ere paid by our client (" ').

has gross production tax liability and petroleum excise tax liability as a result ofbe ing a working and/or royalty interest owner in producing oil and/or gas wells located inOklahoma. .claim s of tax credits pursuant to the Oklahoma RuralSmall B usiness Incentive Act (the "Act") as indicated on the attached Forms 526 and 526-A .T he credits claim ed by arose after July 1,2005 an d b efo re July 1 , 2006 and have notbeen used to offset other taxes.total gross production tax liab ility and petroleum excise tax liab ility

for the period beginning on July l , 2005 and ending December 31 , 2006 isanticipates that of gross production tax will be refunded back tofor this period under the gro ss prod uction tax in cen tive ex em ption pro gram .

E nclo se d are th e fo llowin g; A list of the wells has an interest in, identifying thecountie s in w hich such w ells ore located; A spreadsheet indicating the percentage of interest attributable to

the production of oil and gas from such wells w ith respect to each such county;an d

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-2- Caples of Forms 526 and 526-A.

seeks a refund of gross production taxes and petroleum excise taxes inthe amount of

If you have any questions or need to discuss this matter please do not hesitate tocall. Under penalties of perjury, the undersigned, as an authorized representative of _

, hereby declares that I have examined this request, including accompanyingdocuments and to the best of my knowledge and belief, the facts set forth are true and correct.

Very truly YOUrs.

Enclosurescc:

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State of OklahomaR UR AL SM ALL BUSINESS C AP ITA L C OM PA NYR E P O R T F O R I N V E S T O R S

T A X Y E A R 2006~$26-A

City __ .. ~ __ _ .. ~ .~ S ta te __ Z ip Address .....__ .__ . .__.__ ._. " .._. .

Nam a of Rura l Sm all Business Capita ! Com panyAddress.;

Identification Num ber _ Id en tific atio n N umb er . _ _ . _.__. .__ .__~ _._. .",_",_,_ ,,_Name of Investor.

City __... . . State__ Zip.

Total c red it a llow ab le in 2006Carry tile credit claimed this year to Form 511CR. If the entire credit is not being cia imed this year, complete Part I I for the subsequent carryover years.~nder penalties of perjury, f declare that I have examined this re~ accompanying statements, and to the best of my knowi3dge and ballef it15 true, accurate and complete" "'1

Officer, General Partner or Mem~ .._ f .~~~; ; : : : - ; : :s~~~1 . Totar credit a llowab le in 2006 ,,, ., ,, ,,, ,, ,, 1,2 , C red its used in prior years:

(b) 2007 $(a ) 2006 $

(c ) 2008 $

5, Unused ba lance carryove r (line 3 less " . ... " ,,, ar c arryover lim it) 5 .

Tota l cred its used prior to this y ear "" " " 2 .3. Unused credit ava ilab 'e (line 1 less line 2 ) , , " " ,. 3 .4. C redit c la im ed this yea r, 2006 (ca rry to Form 511CR ) "" .4,

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Page I of

Carol PuckettFrom:Sent:

Teresa MitchellMonday, December 08,20083:39 PM

To: Carol Puckett; Mark Hendrix; John CottengimSubject: SBV 2008 Report.xlsAttachments: SBV 2008 Report.xls

Attached is the most current Small Business Investment Credits Status Report; this reflects the activity duringOctober 2008. We will try to have the November 2008 report which is due December 20, 2008, out early ifpossible.Thanks,Teresa

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Small Business Investment Credits Status Report

Beginning Requests Credit Taken RefundsOIL Balance Received on Reports Issued PendingRefundRequests' 26 0 0 4 2GPTax $ 11,235,033.51 $ - $ - $ 167,303.34 $ 11,067,730.17PE Tax $ 175,553.00 $ - $ - $ 2,270.58 $ 173,282.42Total $ 11,410,586.51 $ - $ - $ 169,573.92 $ 11,241,012.59

Beginning Requests Credit Taken RefundsGAS Balance Received on Reports Issued PendingRefundRequests' 28 0 0 0 2GPTax $ 9,577,909.07 $ - $ - $ 25,964.76 $ 9,551,944.31PE Tax $ 143,004.21 $ - $ " $ 352.66 $ 142,651.55Total $ 9,720,913.28 $ - $ - $ 26,317.42 $ 9,694,595.86

Year to DateRequests Credit Taken RefundsOIL Received on Reports Issued

Refund Requests* 9 0 20GP Tax $ 1,981,541.38 $ - $ 1,672,174.96PE Tax $ 26,892,76 $ - $ 22,699.88Total $ 2,008,434.14 $ - $ 1,694,874.84Requests Credit Taken RefundsGAS Received on Reports Issued

Refund Requests* 0 0 0GP Tax $ 1,230,491.42 $ - $ 3,076,591.16PE Tax $ 12,278.89 $ - $ 43,305.18Total $ 1,242,770.31 $ - $ 3,119,896.34

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Total ClaimedRequests Credit Taken RefundsOIL Received on Reports Issued

Refund Requests" 0 P Tax $ 20,301,250.01 $ - $ 9,317,187.52PE Tax $ 286,566.24 $ - $ 114,419.32Total $ 20,587,816.25 $ - $ 9,431,606.84Requests Credit Taken RefundsGAS Received on Reports Issued

Refund Requests" 0 0GP Tax $ 23,996,364.88 $ 53,310.56 $ 14,444,420.57PE Tax $ 342}71.14 $ 723.47 $ 200,119.59Total $ 24,339,136.02 $ 54,034.03 $ 14,644,540.16* Refund Requests indicates the number of companies which have submitted requestsand/or reports. Refunds Issued mayor may not reflect total payment of Refund Request

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Carol PuckettFrom:Sent:To:Cc;Subject:

Russell HulinWednesday, December 02, 2009 8:12AMTony Mastin; Dawn CashMark Hendrix; Carol PuckettFW: GP Oil and Gas Refund Summary Reports

Attachments: 20091202072330. pdf

2 0 0 9 1 2 0 2 0 7 2 3 3 0 . pd f ( 3 4 K B ) Pl.ease find attached the November 2009 GP oil and gas refund reports.

Rus selI Hulin

1

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MSACR860

REFUND CODE

232930333438

o K L A HOM A T A X COM MIS S IONMANAGEMENT SERVICES ACCOUNTINGGROSS PRODUCTION REFUNDS OIL BY TYPE SUMMARYFOR NOVEMBER, 2009

DESCRIP'l'ION

VOLUME CHANGEINACTIVE WELLWORK OVERjRECOMPLETED WELLECONOMICALLY A'l' RISKHORIZONTALLY DRILLED WELLRURAL SMALl, BUSINESS CREDITTOTAl;F'OR ALL REFUNDS:

PAGEDATE: 120

TOTAL AMOUN

$24,586.87$1,859.2$8,235.3

$12,344.95$2/814,180.38$403,451. 5

$3,264,658.35

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Jv1SACH.86G

REFUND CODE

0629303334353638

o K L A HOM A T A X COM MIS S IONMANAGEMENT SERVICES ACCOUNTING

GROSS PRODUCTION GAS REFUNDS BY TYPE SUMMARYF O R N O V E M BE R , 2009DESCRIPTION

EXEMPTION REFUNDSINACTIVE WELLWOlxJZ OVER/RECOMPl~E1'ED WELLE CO N O MI C AL LY AT R I S KH O R I Z O N ' l ' A I , I , YDRILLED WELL3-D SEISMIC WELLNEW DEEP WELLRURAL SMALL BUSINESS CREDITT O T A L F O R ALL REFUNDS;

PAGEDATE: 12"

TOTAL AMOUN

$1,057,763.59$10,013.14$235,540.39

$155,152.14$10,171,282.87$1,247.6

$17,097.41$91,649.7

$11/739,746.95

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Page J of

Carol PuckettFrom: canon1@oktax.state.ok.usSent: Wednesday, October 21, 20092:37 PMTo: Carol PuckettSubject: Attached ImageFollow Up Flag: Follow upFlag Status: RedAttachments: 2117 _OOi.pdf

2/25 /20 ] 0

mailto:canon1@oktax.state.ok.usmailto:canon1@oktax.state.ok.us

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D ecembe r 1 -220 06

Re:DearMr

closed its F und O ctober 31 w ith a total Preferred Unit investment of, and a credit facility of or a total Fund size of

I apologize for the delay. but w e have waited on the Oklahoma Tax Commission to provideusw ith cu rre nt fo rm s,In order for Preferred Unit Holders to receive a two for on e tax credit, the Fund must return. This will be returne d pro rata among the F und's tw enty i nv es to rs . Your P re fe rr ed Unit

investment represents 36.7377% of the Preferred Units. ' ". . . .. .' You should reduce your cost basis in t he Pre fc fT .c (j Unitsbyt~i~ amoYrlt~ ThisWHla,,~~~t~y o u o ra 200% r e t U r i l o n y o u " d n v e s t m e n t . . . . . . . . . . . . -

Enclosed are two Oklahoma Tax Commission Forms 526A and one Form 526! which you w illneed for your cred its,The Fund invested in the following Portfolio Comoanies:

, W e will furnish you w ith financiats and other information 01 1 th e Por tf ol ioCom panies, the Fund and the Capital Com pany w hen the financials have been com pleted.

On behalf of all of those associated w ith , we thank you for investing w ith us. W ethink that your investments w ill provide you additional return, as w ell as som e useful Kvl benefits.I want to caution you that this tax credit can only be used to recover or pay gross production taxes

as well as income, insurance premium and bank franchise taxes which were paid or payable by the entitypurchasing the Fund Tax Credits.

Thank you very much and if you have any questions, please do not hesitate to call.Y ou rs tru ly ,

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:. . '< "" ' \ ' : - - , < . : - . _ '. : > . . . : . . . ..

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Dilte of fnvQ$l!neotTobllnvostmont In, or In conJuctlonwith. tho Rural Small Busfn(l~1iCapital Company

Total Crodlt Avallablo(Columfl 2 x 30%) Crod l ! AJ I( )wab lo I n 2006

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Rural Small Business Capital CompanyReport for InvestorsTax Y ear 2006~ 5 2 6 " A I

N am e o f In ve sto r Name of Rural Small BusinessCapita l C omp an yIdent ific a ti on Number Identifica tion Number _

Address _City ~ .__ Stale,""~.Zir Address

Part r ' ; . ' . . . . : : . , : . . : : ; , ; ' . . c . . . . c : , . : : . .. _. ,",," ....'.. r' .. .

. . .', .' ., . " . " '.. .. '.' ',... : ... " , . .,

. . . ,:,. :. : _.. '.. :.... .-::, ': :. ~ . ; . . ; ,., . ~ .: "".: . r . : :;

T ota l c re dit a Uowa ble In 2 00 5Ca rr y th e c re dit c la im e d t his y ea rtQ F otm 5 11CR. If th e e nU re c rOO ll is n ot b e in g d aim o o th is y ea r. c om p le te P a rt I I f or Ih e s u bs eq oe nt c ar ry ov er y ea rs .U nd er p en alt ie s o f p er ju ry , I d e c la re th at I h av e e xam in ed th is r et ur n, in clu din g a cc om p an yin g s ta le m e n Is . a nd 1 0 th e b es t o r my k nowle dg e a nd b elie f itIsbus, accurate and complete. . ,

1. Tota l cred it a llowab le in 2005 .,,, ,. 1 .2. Credits used Inp rior years:

Tota lored lts used prior to this y ear ,,, ., ,, 2 .3 . Unused cred it ava ilab le (Une 1 less line 2 ) 3.4. Creditcialmad this year, (carryto Form 511CR) 4.5. Unused b a la n ce c a rr yo ve r (line 3 less Hne 4) (ten year carryover lim it) " 5.

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March 5, 2007

RE: 2006 Oklahoma Rural Small Business CapRalCreditDear

investment to various Oklahoma SmallBusinoss Ventures entitled the members of the Fund to 'tax credits. Your 2006 investment in the Fund entitles you to a pro-rata tax creditallocation of. This credit is refleded on the enclosed Oklahoma Form511CR .. You may have addltronal fax credits from other sources depending on yourspecif ic tax situation. Your official tax filing document, Form Kw1, will be issued and...... rnalled ..at.a.laterdete ... If you wish. to..use.voutcrecits ..beforeyourec~iV~YQ!.1r K~.tplease attach a copy of this letter with your tax filing. We encourage you to consult witha tax professlonal in claimirlg your credits.An information Porm526~ for is enclosed. Itreflects the total tax credits for all investments in the various target companies. The526-A is for informational purposes only and is not to be used for tax filingPlease direct any questions that you may have to my attention at:

Sincerejy,

Enclosures

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State of OklahomaR UR AL SM ALL BUSINESS C AP ITA L C OM PA NYR E P O R T F O R I N V E S T O R S

TAX YEAR Z006~526-AlIdentification Number. ~H ' ' ' _Identification Number _

Name of Investor ~ , ..._ Name of Rural Smal! Business Capital Company

___ state __ Zip __ ">0 Address ---~-----i ty--. - -_.

lotal credit allowable in 2006C ~ (ly 1.h () c re dit d aim e d t his y ea r to FO rm 5 11 CR Iflh e e ntir e c r~ d l\ Is n ol b !ltn g c la im e d th is year c om p le te P ar t I I f o r tb e subsequent carryover years .U n de r p a na iU e s o f p e r ju ry , I d ec la re lI 1a ll nllv~ e xam ln ed H \ i~ retulll. including aompany!t lg s ta t ements a nd to th e b est 0 1 m y k now le dg e !lnulle lle f ilI s t ru e a c cum te a nd ( )om p le tl 'l

2' Credits used in prior years:

(a ) 2006 $(b) 2007 s(c ) 2008 $

Total credits used prior to this year .. .. ,23 Unused credit available (lfne 1 less line 2) .. 34 Creditclaimedthis year, __ (carry to Form 511CR) 45. Unused balance carryover (line 3 less line 4) (three year carryover limit) 5

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March 1,2007

SUBJECT: Tax Credits

RElrERENCE: 4124/06 InvestmentDear Investor

(target compauy=-formcrly known asentitled the members of the Fund to. tax credits. . . . I ~ _ _ 1 :n r .~ l l E l . t l ~ .~ ~ ) .il.lC, F.u,n(,l,'.s9peratiug Agrccment, you.l April 2006 investment entities YOllt o . a pro-rata tax credit allocatlnn of , Your o.fficialiaX fHhig iloculn'clli, R':'l,wiH'be'

issued and mailed after the first of the year. If you wish to use your credits before you receiveyour K~I,please attach a copy of this letter with your tax filing.

The Fund's investment in

An informational 2006 Form 526A for is enclosed. Itreflects thetotal tax credits fur .A!4 investments in the target company for 2006. The 526A is foJ'informational purposes only and is 1I0t t o . be used fQI' tax filing.Thank you for your investment inhesitate to contact our' If you have any questions, please do not

nest Regards

Encl. as state

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State of OklahomaRURAL SMALL B USIN ES S C AP ITA L C OM PA NYR EPO RT FO R I NVESTORS

TAX Y E A R 200 ~526-AL ._~. .,~__

Add ress ._ .. . ..__ ...._

Identification Number _dentification Number_Name of Investor . _ Name of Rural Small Business Capital Company

City _________ Slate _ .... Zip _ Address _. .. _

Total credit allowable in 2006Carry the credit claimed this year 10Form 511CR. Ifthe entire credit Is not being daimeS,.lf~ar. 90mplele Part II for the subsequent carryover years.Under penalties of perjury, 1declare that I have examined this return. IM",.;I~~ .....~nO

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Sate of OklahomaRURAL SMALL BUSINESS CAPITAL COMPANYR E p O R T F O R I N V E S T O R S

TAX YEAR 2006~ 526~

A copy of this form must be enclosed with the investor's income tax return i f the credit isclairned.This form must be furnished to the Investor by January 31st. See instructions for further infonnation

tdentficauon Number --- Identification Number ~---- _'R~"~"Name of Investor ~ Name of Rural Small Business Capital CompanyAddress - _ . . . . . . . . . ,,__, . . . . . - -~. . . . . . . . . . . . .- - . , . _ . . . . . _ - - , , - -City __ Slate -::_._ Zip . R Address ,. .. .,. . . . . .

City State Zip .. ' _ TC _T~T ___ ' -EsTAB US HJN G TH I;. R UR AL S MAI 'I B USIN ESS C AP ITAL C RE DIT

) .Da te (2) Total lnvestment.in, (3) (4)of or in conjunction with,the Rural Total Credit Available Credit AllowableInvestro ent Sma ll B us in es s C a pita j C 6mp

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May 4, 2007HAND DELIVEREDJohn Cottengim, Auditor Claims UnitAudit Division, Gross Production Tax DivisionOklahoma Tax Commission2501 N, Lincoln Blvd. .Oklahoma City, OK 73194 Re:D ear M r. Cottengim:

Reference is made to a request for refund of gross production tax filed on behalfof on January 29, 2007 (the "Claim for Refund"). Under cover of aletter dated February 26, 2007 (the "Information Request"), a copy of which is enclosed, yourequested that additional information be submitted with the Claim for Refund, By letter dated

. .April 18.2007 (the .."Extension .Letter") .you.agreed. to. extend. the. date. by. whichis required to provide the requested information. Following discussions with Mr.

Tony Mastin, Administrator, Oklahoma Tax Commission, and Mr. Mark Hendrix, we believe theattached report showing well names, legal description and percentage of interest in each well (the"Well Report") is responsive to your request for additional information. Please note that theWell Report also provides totals by county.

I am enclosing with this letter the following;1. the Well Report;2. the Original Claim for Refund which was returned to us under cover of theInformation Request;3. a copy of the Information Request; and4. a copy of the Extension Letter.If we can provide additional information or if you have any questions, please do'not hesitate to contact me.

Very truly yours,.

Enclosures

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January 29,2007

HAND DEL IV EREDMr. Tony MastinDirector of Tax Policy and Research DivisionOklahoma Tax Commission2501 N. LincolnOklahoma City, OK 73194

Re: Rural Venture Capital Formation IncentiveAct - Request for Refund of GrossProduction Tax

Dear Mr . Mastin :The purpose of this letter i s to request a refund of gross production taxes and

petroleum excise taxes that were paid by our client (" _ "),ha s gross production tax liability and petroleum excise tax liability as a result of

being a working and/or royalty interest owner in producing oil and/or gas wells located inOklahoma.

claims of tax credits pursuant to the Oklahoma RuralSmall Business Incentive Act (the "Act") as indicated on the attached Forms 526 and 526-A.The credits claimed by arose after July 1, 2005 and before July 1,2006 and have notbeen used to offset other taxes.

total gross production tax liability and petroleum excise tax liabilityfor the period beginning on July 1, 2005 and ending December 31, 2006 is

anticipates that of gross production tax will be refunded back tofor this period under the gross production tax incentive exemption program.Enclosed are the following:

A list of the wells ha s an interest in, identifying thecounties in which such wells are located; A spreadsheet indicating the percentage of interest attributable to

the production of oil and gas from such wells with respect to each such county;and

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Copies of Forms 526 and 526-A.seeks a refund of gross production taxes and petroleum excise tuxes in

the amount ofIf you have any questions or need to discuss this matter please do not hesitate to

call. Under penalties of perjury, the undersigned) as an authorized representative of , hereby declares that I have examined this request, including accompanying

documents and to the best of my knowledge and belief, the facts set forth are true and correct.Very !fuly yours,

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State of OklahomaR UR AL SM ALL BUSINESS C AP ITA L C OM PA NYREPORT FOR INVESTORS

T A X Y E A R 2006~~26~K

Address; . ' _ ---,~,.-------.Identification Number _ Identification Number __Name of Investor . , .~"'.____ Name of Rural Small Business Capital Company

City _ ,__ . State __ Zip Address ..... ,_. .". ._._.___, .City _.. ~ __ . ._.__ State __ Zip

Total credit allowable in 2006 L--~_Carry the credit claimed this year to Form 511CR. If the entire oredit is no! being cfaimed tll is year, complete Part I I for the subsequent carryover years.Under penalties of pe~U!y. I declare that I have examined t;,,'~r"t'm, I,,~ ~~~~~,.,~" .. ,__ ~,-,--~-,- __ . 1 . _ . ~ - , . . - . . . . .is tl' \le, accurate and complete.

Officer, General Partner or Meml'.,' . . - . " ':

1. Total credit allowable in 2006,,, ,, " "" " " 1, ~~~~~~~==~~~2. Credits used in prior years:

(a ) 2006 $(b) 2007 $(c ) 2008 $

Total credits used prior to this year " " " "",, 2.3. Unused credit available (line 1 less line 2) "." " " " 3.4. Credit claimed this year, 2006 (carry to Form 511CR) " ._ " 4.5. Unused balance carryover (line 3 less 1:__ "' IL'--_ - , 'Ire _ = a ~ r r y : o : : . : v - = e ~ r ~ l i m = i t ) ~. : . : . ' . ~ : . : .. ~ ~5~.-===========:j~ - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

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Page 1 o

Carol PuckettFrom:Sent:

Russell HulinWednesday, September 02,20094:31 PM

To: Tony Mastin; Dawn Cash; Mark Hendrix; Carol PuckettSubject: GP Refunds August 2009Attachments: GPRefundSummaryAugust2009. pdf

Attached are the refund summary reports for GP oil and gas for August 2009.Russell Hulin

2 /2S/?O 1 ()

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MSACR860

REFUND CODE

333738

o K L A HOM A T A X COM MIS S IONMANAGEMENT SERVICES ACCOUNTINGGROSS PRODUCTION REFUNDS OIL BY TYPE SUMMARYFOR AUGUST, 2009

DESCRIPTION

ECONOMICALLY AT RISKSMALL BUSINESS CAPITAL CREDITRURAL SMALL BUSINESS CREDITTOTAL FOR ALL REFUNDS:

PAGEDATE: 09 -

TOTAL AMOUN

$1,677.6$359,291.83$214,159.43$575,128.92

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MSACR86G o K L A HOM A T A X COM MIS S IONMANAGEMENT SERVICES ACCOUNTINGGROSS PRODUCTION GAS REFUNDS BY TYPE SUMMARYFOR AUGUST, 2009

REFUND CODE DESCRIPTION

06 EXEMPTION REFUNDS23 VOLUME CHANGE34 HORIZONTALLY DRILLED WELL37 SMALL BUSINESS CAPITAL CREDIT38 RURAL SMALL BUSINESS CREDIT

TOTAL FOR ALL REFUNDS:

PAGEDATE: 09-

TOTAL AMOUN

$225,913.4$5,241.66$6,416,809.3$1,399,571.$214,697.0

$8,262,233.35

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Page J of

Carol PuckettFrom:Sent:To:Cc:

Teresa MitchellWednesday, August 19, 20094:54 PMRussell HulinCarol Puckett

Subject: Claims ReissuedAttachments: SBV Breakdown.xls

Russell,We are running into a situation where we are having to reissue letters and hence checks due to lost, expired andmisrouted vouchers. The auditors have reissued the letters with the same reason code as the original letters, bCarol and f are concerned about reissuing under the same reason code as the original vouchers as this willduplicate the data that is being captured in relation to the Incentives ~especially in the areas of Deep Wells, SmBusiness and Economically at Risk.We are proposing a new reason code of 55 or 66 to identify reissued voucher requests to prevent dupllcatlon inthe statistics. Will this work for you? Do you see any problems? Would you like for us to go forward inimplementing.I've attached an Excel Spreadsheet with a list of the letters we(re presently concerned with.Any input would be appreciated.Teresa

'1/'1 c : 1'1(\ 1 (\

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$ 502,578,00 $ 525,884.44 $ 6,942,77$ 1,000,000.00 $ 589,627.19 $ 7,837.59$ 1,999,999.00 $ 993,732.69 $ 19,124.18$ 5,920,647.00 $ 5,456,301.42 $ 74,077.55$ 39,000.00 $ 46,817.95 $ 635.39$ 50,000.00 $ 69,941.28 $ 949.20$ 9,867,744.00 $ 9,239,489.79 $ 125,396.91$ 20,364,324.00 $ 29,638,524.74 $ 395,508.12$ 10,014,810.00$ 1,005,156.00 $ 518,523.99 $ 7,042.99$ 1,000,000.00 $ 659,665.78 $ 8,741.33$ 125,130.18$ 796,472.70 $ 560,665.14 $ 10,327.41$ 1,493,386.00 $ 1,321,192.42 $ 17,845.80$ 127,986.71$ 3,300,000.00 $2.131,958.30 $37,076.58$ 960,000.00$ 130,000.00$ 197,335.00 $ 194,779,64 $ 2,643.91$ 407,286.00$ 145,536.41 $59,841.81 $812.13$ 471,318.00$ 213,294.31$ 275,350.29$ 100,000.00 $ 37,183.25 $ 596.84-$176;864~5~ '$ 2 4 0 , 1 " 3 7 . " 5 7 $ 559.01$ 101,822.00 $ 106,618.91 $ 1,446.97$ 1,035,684.16 $ 1,018,534.38 $ 1'1,149.78$ 281,707.00.. ~ " :..: " 83 ,4 22 ,5 8 :$ ),132.26.

",$ . '.132,014.57 $ 1,791.68$ . '. '295,320.01 $ . 5,746.86$ '.514,988.17 '$ 6,988.87$ -. $79,626.58 .$ 7,615.99.. :. ~22,363.01 $303.50

" . '. :$ ::'. 59,613.67 $ -.809.04:$ " . 144,051.58 $ 1,946.89$ 223,323.26 $ 816.57$ : 217;953.85 $ 2,957.84$ '-.1.40,766.79 : $ 1,803.26.'$ . 8,913.17 '$ 120.96'.$ 207,207.77 $ 2,808.70.$ 13,312.58 $ . 181.49'$ "3,350.79 '.$ . . 45.60$ '1,003,170.58 $ '13,687.16$ 62,103,431.27 Total $ 57,658,819.65 $ 783,471.13

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$ 30,249.21$ (402,535.22)$ (987,142.13)$ (390,268.03)$ 8,453.34$ . 20,890.48$ (502 ,857 .30 )$ 9,669,708.86$ (10,014,810.00)$ (479,589.02)$ (331,592.89)$ (225,480.15)$ (154,347.78)$ (530,965.12)

$ 88.55$ (84,882.47)

$ ( 6 2 ,219 . 91 )"'$' "63;832.07"",,,,$ 6,243.88$$ ..84,554.84$ 133 ,806 .25$ .301 ,066 .87$ 521 ,977 .04$587,242.57$ . 22 ,666 .51$ '. 6 0,4 22 .7 1 .$ 145,9!;)S.47$ ..224,139.83 .$ ..220 ,911 .69$ .. 142,570,05$ 9,034.13$ . 210,016.47$ .' . 13,49ti.07$ 3,396.39$ 1 ,016 ,857 .74$ (669 ,068 .00 )