EXHIBIT 20.1

                               November 14, 2001



TO:  All Limited Partners in the Geodyne  Institutional/Pension  Energy
     Income Limited Partnership P-8

RE:  Election to extend term of Partnership for additional two years


      As  previously  described to you, the limited  partnership  agreement,  as
amended (the "Agreement") for the above referenced Geodyne Institutional/Pension
Energy  Income  Limited  Partnership  (the  "Partnership")  provides  that the
Partnership will automatically terminate and dissolve on February 28, 2002.

      The  Agreement  gives  Geodyne  Resources as General  Partner an option to
extend the term of the  Partnership  for up to five  additional  two year terms.
Geodyne  is  hereby  notifying  you that it has  elected  to  extend  the  above
referenced  Partnership's  term for an additional two year period.  Accordingly,
Geodyne  will file an  amendment  to the  Partnership's  Certificate  of Limited
Partnership extending the Partnership's term until February 28, 2004.

      If you have any questions  concerning the  Partnership's  extension please
contact Geodyne Investor Services at 918-583-1791 or 888-436-3963.

                                    Very truly yours,

                                    GEODYNE RESOURCES, INC.,
                                    General Partner

                                    //s// Dennis R. Neill

                                    Dennis R. Neill
                                    President