UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date of Report (Date of earliest event reported): February 7, 2006
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
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(Exact name of Registrant as specified in its Charter)
II-E: 0-17320 II-E: 73-1324751
Oklahoma II-F: 0-17799 II-F: 73-1330632
- ---------------- ---------------- -------------------
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
Two West Second Street, Tulsa, Oklahoma 74103
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (918) 583-1791
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the Registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
-1-
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(B) Pro forma financial information.
(1) Geodyne Energy Income Limited Partnership II-E
(a) Pro Forma Balance Sheet as of September 30, 2006.
(b) Pro Forma Statement of Operations for the nine months ended
September 30, 2006.
(c) Pro Forma Statement of Operations for the year ended December 31,
2005.
(d) Pro Forma Statement of Operations for the year ended December 31,
2004.
(e) Pro Forma Statement of Operations for the year ended December 31,
2003.
(2) Geodyne Energy Income Limited Partnership II-F
(a) Pro Forma Balance Sheet as of September 30, 2006.
(b) Pro Forma Statement of Operations for the nine months ended
September 30, 2006.
(c) Pro Forma Statement of Operations for the year ended December 31,
2005.
(d) Pro Forma Statement of Operations for the year ended December 31,
2004.
(e) Pro Forma Statement of Operations for the year ended December 31,
2003.
-2-
UNAUDITED PRO FORMA FINANCIAL DATA
- ----------------------------------
The following unaudited pro forma balance sheet as of September 30, 2006,
unaudited pro forma statements of operations for the nine months ended September
30, 2006, and the unaudited pro forma statements of operations for the years
ended December 31, 2005, 2004 and 2003 give effect to the sale of producing
properties at an auction in February 2007 as described in ITEM 2 to Form 8-K
dated February 7, 2007 and filed February 13, 2007 and October and December 2006
auctions described in previous 8-K filings. The unaudited pro forma balance
sheet is presented as if the divestitures had occurred on September 30, 2006.
The unaudited pro forma statements of operations are presented as if the
divestitures had occurred on January 1, 2003. The unaudited pro forma financial
data are based on assumptions and includes adjustments as explained in the notes
to the unaudited pro forma financial statements. The actual recording of the
transactions could differ.
-3-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
UNAUDITED PRO FORMA BALANCE SHEET
SEPTEMBER 30, 2006
ASSETS
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2a) (Note 2b) (Note 2c)
---------- ----------- ----------- ------------- -----------
CURRENT ASSETS:
Cash and cash equivalents $ 791,807 $1,960,852 $362,365 $466,233 $3,581,257
Accounts receivable:
Oil and gas sales 347,272 - - - 347,272
Assets held for sale 449,947 ( 138,497) ( 16,602) ( 11,666) 283,182
---------- ---------- -------- -------- ----------
Total current assets $1,589,026 $1,822,355 $345,763 $454,567 $4,211,711
NET OIL AND GAS PROPERTIES,
utilizing the successful
efforts method 849,630 - - - 849,630
DEFERRED CHARGE 208,171 - - - 208,171
---------- ---------- -------- -------- ----------
$2,646,827 $1,822,355 $345,763 $454,567 $5,269,512
========== ========== ======== ======== ==========
-4-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
UNAUDITED PRO FORMA BALANCE SHEET
SEPTEMBER 30, 2006
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2a) (Note 2b) (Note 2c)
---------- ------------ ------------ ------------ -----------
CURRENT LIABILITIES:
Accounts payable $ 111,025 $ - $ - $ - $ 111,025
Gas imbalance payable 43,424 - - - 43,424
Asset retirement obligation -
current 9,017 - - - 9,017
Asset retirement obligation -
assets held for sale 107,875 ( 70,028) ( 5,828) ( 11,697) 20,322
Accounts payable of assets
held for sale 26,133 - - - 26,133
---------- ---------- -------- -------- ----------
Total current liabilities $ 297,474 ($ 70,028) ($ 5,828) ($ 11,697) $ 209,921
LONG-TERM LIABILITIES:
Accrued liability $ 69,372 $ - $ - $ - $ 69,372
Asset retirement
obligation 128,871 - - - 128,871
---------- ---------- -------- -------- ----------
Total long-term liabilities $ 198,243 $ - $ - $ - $ 198,243
-5-
PARTNERS' CAPITAL (DEFICIT):
General Partner ($ 119,181) $ 189,238 $ 35,159 $ 46,626 $ 151,842
Limited Partners, issued
and outstanding,
228,821 units 2,270,291 1,703,145 316,432 419,638 4,709,506
---------- ---------- -------- -------- ----------
Total Partners' capital $2,151,110 $1,892,383 $351,591 $466,264 $4,861,348
---------- ---------- -------- -------- ----------
$2,646,827 $1,822,355 $345,763 $454,567 $5,269,512
========== ========== ======== ======== ==========
-6-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2006
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ---------- ----------
REVENUES:
Oil and gas sales $1,804,494 $ - $ - $ - $1,804,494
Interest income 25,781 - - - 25,781
Gain on sale of oil and
gas properties 11 - - - 11
Other income 7,493 - - - 7,493
---------- -------- ---------- -------- ----------
$1,837,779 $ - $ - $ - $1,837,779
COSTS AND EXPENSES:
Lease operating $ 393,628 $ - $ - $ - $ 393,628
Production tax 120,395 - - - 120,395
Depreciation, depletion,
and amortization of oil
and gas properties 74,318 - - - 74,318
Impairment provision 20,278 - - - 20,278
General and administrative 215,186 - - - 215,186
---------- -------- ---------- -------- ----------
$ 823,805 $ - $ - $ - $ 823,805
---------- -------- ---------- -------- ----------
-7-
INCOME FROM CONTINUING
OPERATIONS $1,013,974 $ - $ - $ - $1,013,974
========== ======== ========== ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 107,333 $ - $ - $ - $ 107,333
========== ======== ========== ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $ 906,641 $ - $ - $ - $ 906,641
========== ======== ========== ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 3.96 $ - $ - $ - $ 3.96
========== ======== ========== ======== ==========
UNITS OUTSTANDING 228,821 228,821 228,821 228,821 228,821
========== ======== ========== ======== ==========
-8-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2005
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ----------- -----------
REVENUES:
Oil and gas sales $3,949,949 ($449,433) ($80,830) ($153,461) $3,266,225
Interest income 13,967 - - - 13,967
Gain on sale of oil and
gas properties 193 - - - 193
Other income 5,177 - - - 5,177
---------- -------- ------- -------- ----------
$3,969,286 ($449,433) ($80,830) ($153,461) $3,285,562
EXPENSES:
Lease operating $ 503,196 ($ 91,938) ($ 5,769) ($ 35,401) $ 370,088
Production tax 281,131 ( 42,960) ( 6,703) ( 5,309) 226,159
Depreciation, depletion,
and amortization of oil
and gas properties 204,315 ( 79,842) ( 2,036) ( 1,017) 121,420
General and administrative 281,418 - - - 281,418
---------- -------- ------- -------- ----------
$1,270,060 ($214,740) ($14,508) ($ 41,727) $ 999,085
---------- -------- ------- -------- ----------
-9-
INCOME FROM CONTINUING
OPERATIONS $2,699,226 ($234,693) ($66,322) ($111,734) $2,286,477
========== ======== ======= ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 286,914 ($ 30,655) ($ 6,815) ($ 11,265) $ 238,179
========== ======== ======= ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $2,412,312 ($204,038) ($59,507) ($100,469) $2,048,298
========== ======== ======= ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 10.54 ($ 0.89) ($ 0.26) ($ 0.44) $ 8.95
========== ======== ======= ======== ==========
UNITS OUTSTANDING 228,821 228,821 228,821 228,821 228,821
========== ======== ======= ======== ==========
-10-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2004
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ----------- ----------
REVENUES:
Oil and gas sales $2,788,915 ($309,054) ($45,577) ($153,995) $2,280,289
Interest income 4,783 - - - 4,783
Gain on sale of oil and
gas properties 9,419 - - - 9,419
Other income 1,920 - - - 1,920
---------- -------- ------- -------- ----------
$2,805,037 ($309,054) ($45,577) ($153,995) $2,296,411
EXPENSES:
Lease operating $ 494,357 ($ 48,694) ($13,627) ($ 23,707) $ 408,329
Production tax 189,382 ( 15,047) ( 4,021) ( 8,576) 161,738
Depreciation, depletion,
and amortization of oil
and gas properties 201,433 ( 112,335) ( 1,461) ( 379) 87,258
General and administrative 276,031 - - - 276,031
---------- -------- ------- -------- ----------
$1,161,203 ($176,076) ($19,109) ($ 32,662) $ 933,356
---------- -------- ------- -------- ----------
-11-
INCOME FROM CONTINUING
OPERATIONS $1,643,834 ($132,978) ($26,468) ($121,333) $1,363,055
========== ======== ======= ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 181,054 ($ 23,408) ($ 2,778) ($ 12,167) $ 142,701
========== ======== ======= ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $1,462,780 ($109,570) ($23,690) ($109,166) $1,220,354
========== ======== ======= ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 6.39 ($ 0.48) ($ 0.10) ($ 0.48) $ 5.33
========== ======== ======= ======== ==========
UNITS OUTSTANDING 228,821 228,821 228,821 228,821 228,821
========== ======== ======= ======== ==========
-12-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2003
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ------------ ----------
REVENUES:
Oil and gas sales $2,747,176 ($272,840) ($43,226) ($156,249) $2,274,861
Interest income 3,318 - - - 3,318
Gain on sale of oil and
gas properties 21,407 - - - 21,407
---------- -------- ------- -------- ----------
$2,771,901 ($272,840) ($43,226) ($156,249) $2,299,586
EXPENSES:
Lease operating $ 470,669 ($ 50,737) ($ 8,842) ($ 23,615) $ 387,475
Production tax 194,259 ( 29,183) ( 3,554) ( 9,080) 152,442
Depreciation, depletion,
and amortization of oil
and gas properties 137,213 ( 25,846) ( 2,116) ( 378) 108,873
General and administrative 278,935 - - - 278,935
---------- -------- ------- -------- ----------
$1,081,076 ($105,766) ($14,512) ($ 33,073) $ 927,725
---------- -------- ------- -------- ----------
-13-
INCOME FROM CONTINUING
OPERATIONS $1,690,825 ($167,074) ($28,714) ($123,176) $1,371,861
========== ======== ======= ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 181,100 ($ 19,034) ($ 3,062) ($ 12,352) $ 146,652
========== ======== ======= ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $1,509,725 ($148,040) ($25,652) ($110,824) $1,225,209
========== ======== ======= ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 6.60 ($ 0.65) ($ 0.11) ($ 0.48) $ 5.36
========== ======== ======= ======== ==========
UNITS OUTSTANDING 228,821 228,821 228,821 228,821 228,821
========== ======== ======= ======== ==========
-14-
NOTE 1 - BASIS OF PRESENTATION
The Unaudited Pro Forma Balance Sheet as of September 30, 2006 is presented as
if the divestitures had occurred on September 30, 2006. The Unaudited Pro Forma
Statements of Operations for the years ended December 31, 2005, 2004 and 2003
and for the nine months ended September 30, 2006 are presented as if the
divestitures had occurred on January 1, 2003.
The Partnership follows the successful efforts method of accounting under which
proceeds from the sale of oil and gas properties are accounted for as gains or
losses net of their carrying costs and transaction expenses.
The Pro Forma Statements of Operations for the years ended December 31, 2005,
2004 and 2003, and for the nine months ended September 30, 2006, do not reflect
the estimated gain on the divestiture. Assuming the sales closed on September
30, 2006, an estimated non-recurring gain of $1,892,383 for the October 2006
auction, an estimated non-recurring gain of $351,591 for the December 2006
auction, and an estimated non-recurring gain of $466,264 for the February 2007
auction would have been recognized.
NOTE 2 - PRO FORMA ADJUSTMENTS
(a) Reflects net sales proceeds from the October 2006 auction of $1,960,852
for the II-E Partnership and the reversal of the net oil and gas
properties and the asset retirement obligations associated with the
properties sold.
(b) Reflects net sales proceeds from the December 2006 auction of $362,365 for
the II-E Partnership and the reversal of the net oil and gas properties
and the asset retirement obligations associated with the properties sold.
(c) Reflects net sales proceeds from the February 2007 auction of $466,233 for
the II-E Partnership and the reversal of the net oil and gas properties
and the asset retirement obligations associated with the properties sold.
(d) Oil and gas sales, lease operating expenses, and production taxes are
adjusted to reflect the reversal of revenues and expenses attributable to
the sold properties. Depreciation, depletion, and amortization ("DD&A") is
adjusted for the reductions in DD&A and asset retirement obligation
accretion expenses attributable to the properties sold. These adjustments
were not necessary in the unaudited Pro Forma Statements of Operations for
the nine months ended September 30, 2006 as the operating results of the
sold properties were already reflected as discontinued operations.
-15-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
UNAUDITED PRO FORMA BALANCE SHEET
SEPTEMBER 30, 2006
ASSETS
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2a) (Note 2b) (Note 2c)
---------- ----------- ----------- ----------- -----------
<s>
CURRENT ASSETS:
Cash and cash equivalents $ 869,065 $4,449,431 $507,466 $596,569 $6,422,531
Accounts receivable:
Oil and gas sales 245,058 - - - 245,058
Assets held for sale 831,984 ( 170,781) ( 17,821) ( 20,978) 622,404
---------- ---------- -------- -------- ----------
Total current assets $1,946,107 $4,278,650 $489,645 $575,591 $7,289,993
NET OIL AND GAS PROPERTIES,
utilizing the successful
efforts method 625,822 - - - 625,822
DEFERRED CHARGE 30,448 - - - 30,448
---------- ---------- -------- -------- ----------
$2,602,377 $4,278,650 $489,645 $575,591 $7,946,263
========== ========== ======== ======== ==========
-16-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
UNAUDITED PRO FORMA BALANCE SHEET
SEPTEMBER 30, 2006
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2a) (Note 2b) (Note 2c)
---------- ------------ ------------ ----------- -----------
CURRENT LIABILITIES:
Accounts payable $ 34,003 $ - $ - $ - $ 34,003
Gas imbalance payable 2,024 - - - 2,024
Asset retirement obligation -
current 3,358 - - - 3,358
Asset retirement obligation -
assets held for sale 82,764 ( 4,534) ( 4,017) ( 23,559) 50,654
Accounts payable of assets
held for sale 38,189 - - - 38,189
---------- ---------- -------- -------- ----------
Total current liabilities $ 160,338 ($ 4,534) ($ 4,017) ($ 23,559) $ 128,228
LONG-TERM LIABILITIES:
Accrued liability $ 25,662 $ - $ - $ - $ 25,662
Asset retirement
obligation 118,930 - - - 118,930
---------- ---------- -------- -------- ----------
Total long-term liabilities $ 144,592 $ - $ - $ - $ 144,592
-17-
PARTNERS' CAPITAL (DEFICIT):
General Partner ($ 58,000) $ 428,319 $ 49,366 $ 59,915 $ 479,600
Limited Partners, issued
and outstanding,
171,400 units 2,355,447 3,854,865 444,296 539,235 7,193,843
---------- ---------- -------- -------- ----------
Total Partners' capital $2,297,447 $4,283,184 $493,662 $599,150 $7,673,443
---------- ---------- -------- -------- ----------
$2,602,377 $4,278,650 $489,645 $575,591 $7,946,263
========== ========== ======== ======== ==========
-18-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2006
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ------------ ----------
REVENUES:
Oil and gas sales $1,198,064 $ - $ - $ - $1,198,064
Interest income 21,183 - - - 21,183
Gain on sale of oil and
gas properties 28 - - - 28
Other income 18,316 - - - 18,316
---------- -------- ---------- -------- ----------
$1,237,591 $ - $ - $ - $1,237,591
COSTS AND EXPENSES:
Lease operating $ 197,659 $ - $ - $ - $ 197,659
Production tax 77,135 - - - 77,135
Depreciation, depletion,
and amortization of oil
and gas properties 99,575 - - - 99,575
Impairment provision 24,473 - - - 24,473
General and administrative 167,072 - - - 167,072
---------- -------- ---------- --------- ----------
$ 565,914 $ - $ - $ - $ 565,914
---------- -------- ---------- --------- ----------
-19-
INCOME FROM CONTINUING
OPERATIONS $ 671,677 $ - $ - $ - $ 671,677
========== ======== ========== ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 76,214 $ - $ - $ - $ 76,214
========== ======== ========== ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $ 595,463 $ - $ - $ - $ 595,463
========== ======== ========== ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 3.47 $ - $ - $ - $ 3.47
========== ======== ========== ======== ==========
UNITS OUTSTANDING 171,400 171,400 171,400 171,400 171,400
========== ======== ========== ======== ==========
-20-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2005
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ------------ ----------
REVENUES:
Oil and gas sales $3,860,385 ($506,297) ($124,781) ($239,017) $2,990,290
Interest income 14,042 - - - 14,042
Gain on sale of oil and
gas properties 471 - - - 471
---------- -------- -------- --------- ----------
$3,874,898 ($506,297) ($124,781) ($239,017) $3,004,803
EXPENSES:
Lease operating $ 420,455 ($ 33,847) ($ 3,107) ($ 76,338) $ 307,163
Production tax 239,774 ( 24,338) ( 9,604) ( 2,911) 202,921
Depreciation, depletion,
and amortization of oil
and gas properties 135,289 ( 18,049) ( 1,996) ( 2,031) 113,213
General and administrative 217,348 - - - 217,348
---------- -------- -------- -------- ----------
$1,012,866 ($ 76,234) ($ 14,707) ($ 81,280) $ 840,645
---------- -------- -------- -------- ----------
-21-
INCOME FROM CONTINUING
OPERATIONS $2,862,032 ($430,063) ($110,074) ($157,737) $2,164,158
========== ======== ======== ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 296,975 ($ 44,631) ($ 11,187) ($ 15,956) $ 225,201
========== ======== ======== ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $2,565,057 ($385,432) ($ 98,887) ($141,781) $1,938,957
========== ======== ======== ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 14.97 ($ 2.25) ($ 0.58) ($ 0.83) $ 11.31
========== ======== ======== ======== ==========
UNITS OUTSTANDING 171,400 171,400 171,400 171,400 171,400
========== ======== ======== ======== ==========
-22-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2004
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ------------ ----------
<c>
REVENUES:
Oil and gas sales $2,876,134 ($326,445) ($56,466) ($274,121) $2,219,102
Interest income 4,458 - - - 4,458
Gain on sale of oil and
gas properties 24,162 - - - 24,162
Other income 4,694 - - - 4,694
---------- -------- ------- -------- ----------
$2,909,448 ($326,445) ($56,466) ($274,121) $2,252,416
EXPENSES:
Lease operating $ 425,498 ($ 15,185) ($ 7,347) ($ 50,314) $ 352,652
Production tax 183,457 ( 15,112) ( 4,709) ( 13,119) 150,517
Depreciation, depletion,
and amortization of oil
and gas properties 216,694 ( 22,851) ( 1,510) ( 663) 191,670
General and administrative 211,681 - - - 211,681
---------- -------- ------- -------- ----------
$1,037,330 ($ 53,148) ($13,566) ($ 64,096) $ 906,520
---------- -------- ------- -------- ----------
-23-
INCOME FROM CONTINUING
OPERATIONS $1,872,118 ($273,297) ($42,900) ($210,025) $1,345,896
========== ======== ======= ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 203,874 ($ 29,386) ($ 4,426) ($ 21,062) $ 149,000
========== ======== ======= ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $1,668,244 ($243,911) ($38,474) ($188,963) $1,196,896
========== ======== ======= ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 9.73 ($ 1.42) ($ 0.22) ($ 1.10) $ 6.99
========== ======== ======= ======== ==========
UNITS OUTSTANDING 171,400 171,400 171,400 171,400 171,400
========== ======== ======= ======== ==========
-24-
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2003
Pro Forma Pro Forma Pro Forma
Adjustments Adjustments Adjustments
October December February
2006 2006 2007
Historical Auction Auction Auction Pro Forma
(Note 2d) (Note 2d) (Note 2d)
---------- ----------- ------------ ----------- ----------
REVENUES:
Oil and gas sales $2,639,281 ($270,422) ($59,976) ($272,919) $2,035,964
Interest income 3,228 - - - 3,228
Gain on sale of oil and
gas properties 58,644 - - - 58,644
---------- -------- ------- -------- ----------
$2,701,153 ($270,422) ($59,976) ($272,919) $2,097,836
EXPENSES:
Lease operating $ 407,571 ($ 42,605) ($ 5,870) ($ 49,655) $ 309,441
Production tax 165,636 ( 11,446) ( 4,867) ( 14,307) 135,016
Depreciation, depletion,
and amortization of oil
and gas properties 135,340 ( 20,531) ( 2,084) ( 690) 112,035
General and administrative 213,797 - - - 213,797
---------- -------- ------- -------- ----------
$ 922,344 ($ 74,582) ($12,821) ($ 64,652) $ 770,289
---------- -------- ------- -------- ----------
-25-
INCOME FROM CONTINUING
OPERATIONS $1,778,809 ($195,840) ($47,155) ($208,267) $1,327,547
========== ======== ======= ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 189,739 ($ 21,432) ($ 4,903) ($ 20,889) $ 142,515
========== ======== ======= ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $1,589,070 ($174,408) ($42,252) ($187,378) $1,185,032
========== ======== ======= ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 9.27 ($ 1.02) ($ 0.25) ($ 1.09) $ 6.91
========== ======== ======= ======== ==========
UNITS OUTSTANDING 171,400 171,400 171,400 171,400 171,400
========== ======== ======= ======== ==========
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NOTE 1 - BASIS OF PRESENTATION
The Unaudited Pro Forma Balance Sheet as of September 30, 2006 is presented as
if the divestitures had occurred on September 30, 2006. The Unaudited Pro Forma
Statements of Operations for the years ended December 31, 2005, 2004 and 2003
and for the nine months ended September 30, 2006 are presented as if the
divestitures had occurred on January 1, 2003.
The Partnership follows the successful efforts method of accounting under which
proceeds from the sale of oil and gas properties are accounted for as gains or
losses net of their carrying costs and transaction expenses.
The Pro Forma Statements of Operations for the years ended December 31, 2005,
2004 and 2003, and for the nine months ended September 30, 2006, do not reflect
the estimated gain on the divestiture. Assuming the sales closed on September
30, 2006, an estimated non-recurring gain of $4,283,184 for the October 2006
auction, an estimated non-recurring gain of $493,662 for the December 2006
auction, and an estimated non-recurring gain of $599,150 for the February 2007
auction would have been recognized.
NOTE 2 - PRO FORMA ADJUSTMENTS
(a) Reflects net sales proceeds from the October 2006 auction of $4,449,431
for the II-F Partnership and the reversal of the net oil and gas
properties and the asset retirement obligations associated with the
properties sold.
(b) Reflects net sales proceeds from the December 2006 auction of $507,466 for
the II-F Partnership and the reversal of the net oil and gas properties
and the asset retirement obligations associated with the properties sold.
(c) Reflects net sales proceeds from the February 2007 auction of $596,569 for
the II-F Partnership and the reversal of the net oil and gas properties
and the asset retirement obligations associated with the properties sold.
(d) Oil and gas sales, lease operating expenses, and production taxes are
adjusted to reflect the reversal of revenues and expenses attributable to
the sold properties. Depreciation, depletion, and amortization ("DD&A") is
adjusted for the reductions in DD&A and asset retirement obligation
accretion expenses attributable to the properties sold. These adjustments
were not necessary in the unaudited Pro Forma Statements of Operations for
the nine months ended September 30, 2006 as the operating results of the
sold properties were already reflected as discontinued operations.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GEODYNE ENERGY INCOME LIMITED
PARTNERSHIP II-E
GEODYNE ENERGY INCOME LIMITED
PARTNERSHIP II-F
By: GEODYNE RESOURCES, INC.
General Partner
//s// Dennis R. Neill
-----------------------------
Dennis R. Neill
President
DATE: February 16, 2007
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