STARTING CATE IS

EFFECT OF PROPOSED TAX CHANGES - CITRONELLE FIELD, ALABAMA CASE 4

1/ 1/70

TIMES/YEAR PW FACTOR AND CF REINV. ARE COMPOUNDED

2.

PERCENT 1ST YR TANG INV INCLUDED IN DISC TOT INV

0.000

SALVAGE VALUE, FRACTION OF TANGIBLE INVESTMENT
DISCOUNT RATE FOR INVESTMENT

PERCENT OF TANG. INV. SUBJECT TO TAX CREDIT

0.000

AREAS 1 AND 2 WILL BE CLEARED AND THE RESULTS ADDED TO 1
UNDEPRECIATED TAN INV IS NOT ADDED TO C F OF LAST YR.
DEPRECIATION IS BYPASSED

CASH FLOW IS CALCULATED WITHOUT REINVESTMENT

TAX CREDIT IS BYPASSED

NEGATIVE TAXES ARE SET TO 0 AND CREDITED TO NEXT YEAR
CALCULATION WILL INCLUDE 20.0 PERCENT DEPLETION

Appendix A - Exhibit 1 Page 1 of 6

3.05

1971 6580000. 1972 6390000.

1973 6610000.

0.

0.

0.

0.

0.

3.05

0.

0.

3.05

0.

1974 5280000. 1975 4860000.

1976

4510000.

0.

*** PRICE **** NO OF ***** INTEREST *****
OIL/CON GAS WELLS
0.000 285
0.000 285
0.000 285
0.000 280
0.000 275
0.000 265
0.000 260
0.000 255
0.000 250
0.000 245
3.05 0.000 240
0.000 235
0.000 230
0.000 225
0.000 220
0.000 215
3.05 0.000 210
0.000 205
0.000 200
0.000 190

1989

980000.

0.7500000 1.0000000
0.7500000 1.0000000
0.7500000 1.0000000
0.7500000 1.0000000
0 0.7500000 1.0000000
0.7500000 1.000Coco