I sat in as a substitute director for TAPL at the last AAPL quarterly board meeting in San Antonio in March.  I have had the opportunity to set in on about 15 meetings over the years and I must say that this was the shortest and least controversial one that I have ever seen. 

The report on the recent NAPE turnout and financials were bigger than ever.  There were close to 1,600 booths, and 15,767 attendees, which is an average increase on both of around 10% over last year.  AAPL netted around $1.85 Million after the profit split with the other NAPE owners, but AAPL also got $697,000 as their management fee, which of course pays for a lot of AAPL overall overhead.  Overall, AAPL is now sitting on around $9.4 Million in assets but netted only $687,031 last fiscal (and calendar year) due primarily to losses on the investment portfolio.  The education foundation, which is a separate entity, has $2.76 Million in assets, which for similar investment reasons, is not up as much as it might normally be.  The landman scholarship trust, the “third leg” of AAPL, stands at $1.1 Million in assets.  All in all, AAPL is doing extremely well financially due to NAPE shows. 

The good news is that AAPL’s current executive director, Robin Forte’, was in attendance at the board meeting.  For those of you who were unaware, he had suffered a fairly serious heart attack back last year and was not able to make it to NAPE the month before.  He is still recuperating but is back to working part time and plans on making a full recovery. 

Summer NAPE is scheduled for August 27 and 28th, so if you need a hot humid place to go in August around the Labor Day weekend, plan on being in Houston!  Note that this is a Wednesday and Thursday event due to the holiday.  Next year’s winter NAPE will be again the first week of February, being the 5th & 6th (Thursday and Friday). 

Attendance at AAPL sponsored educational events around the country has been high, but could probably be higher if people were not so busy with work.  There was one program that was put on last year in Krebs, OK, (a suburb of McAlester) that was an AAPL “Field Land Seminar” that had 100 people attend.  Many others are being put on around the country and have similar if not higher turnout. 

There has been a 15% increase in membership in AAPL last year and stands at 10,072 at year end.  The next Annual Meeting will be in Chicago in June and reservations are now open and appear it will be a record turnout.  The most recent executive committee ballots are out and the slate of officers this year are as follows: 

First VP:           Rimmer Covington, CPL/ESA              Independent, Madison, MS.

Second VP:      John (Jay) Brown, CPL                        Zenergy Inc. – Houston, TX

Third VP:         Candace Robinson, CPL                      Yale Oil Association - OKC

Secretary:         Bob Hodge, CPL                                 Northstar Operating Co. - Midland

Treasurer:         Bryan Hennigan, CPL                           EOG Resources – OKC 

There were not any major issues of discussion so the meeting was fairly short.  If anyone has any questions about anything in particular, please feel free to call me at (918) 584-2111, ext. 203.
Jeff Myers