Exhibit 20.1

                         GEODYNE ENERGY INCOME PROGRAMS
                       Samson Plaza, Two W. Second Street
                            Tulsa, OK 74103-3103, USA
                  TOLL FREE: 888/436-3963 DIRECT: 918/591-1791
                  E-MAIL: Geodyne@samson.com FAX: 918/591-1747
                             www.samson.com/geodyne



February 23, 2007

[Personalized address for window envelopes]

RE:   Revised 2006 Year-End Valuation in the Geodyne
      Institutional/Pension Energy Income Program P-7

Dear Unitholder:

By letter dated January 31, 2007, we advised you of the 2006 Year-End  Estimated
Valuation as required by the partnership  agreement.  Subsequent to the mailing,
independent engineers provided an opinion that steeper production decline curves
should be  considered in connection  with two of the Program's  properties,  the
Pecos Valley Unit in Pecos County, TX and the Riley North Unit in Gaines County,
TX.  Adjustment  of the  decline  curves  results  in  less  estimated  ultimate
production and cash flow.

Together,  these adjustments  reduced the 2006 Year-End  Estimated  Valuation by
approximately  16.8%. We have  calculated your new Valuation  below. I apologize
for any confusion this may cause.

Sincerely,

Dennis Neill
President, Geodyne Resources, Inc.
General Partner



Name        Number of Units         Total 2006 Year-End Estimated Valuation
- ----        --------------          ---------------------------------------