U.S. Securities and Exchange Commission
Washington, D.C. 20549
Form 10-QSB
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2003
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [No Fee Required]
For the transition period from _______ to _______
Commission file number 333-82389
Atlas-Energy for the Nineties-Public #8 Ltd.
(Name of small business issuer in its charter)
Pennsylvania 25-1836294
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
311 Rouser Road
Moon Township, PA 15108
(Address of principal executive offices) (Zip code)
Issuer's telephone number, including area code: (412) 262-2830
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. Yes X No
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
INDEX TO QUARTERLY REPORT
ON FORM 10QSB
PART I. FINANCIAL INFORMATION PAGE
Item 1. Financial Statements
Balance Sheets as of September 30, 2003 (Unaudited) and December 31, 2002............................. 3
Statements of Operations for the Three Months and Nine Months Ended
September 30, 2003 and 2002 (Unaudited)............................................................. 4
Statement of Partners' Capital Accounts for the Nine Months Ended September 30, 2003 (Unaudited)...... 5
Statements of Cash Flows for the Nine Months Ended September 30, 2003 and 2002 (Unaudited)............ 6
Notes to Financial Statements (Unaudited)............................................................. 7-10
Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations........................................................................... 11-13
Item 3. Controls and Procedures............................................................................... 13
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K...................................................................... 14
SIGNATURES ................................................................................................... 15
CERTIFICATIONS................................................................................................... 16-19
2
PART I
ITEM 1. FINANCIAL STATEMENTS
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
BALANCE SHEETS
September 30, December 31,
-------------- -------------
2003 2002
(Unaudited)
ASSETS
Current Assets:
Cash $ 81,500 $ 1,600
Accounts receivable - affiliate 110,300 119,500
------------ -----------
Total current assets 191,800 121,100
Oil and gas properties (successful efforts) 12,801,800 12,573,800
Less accumulated depletion and depreciation (8,062,500) (7,704,400)
------------ -----------
4,739,300 4,869,400
------------ -----------
$ 4,931,100 $ 4,990,500
============ ===========
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities:
Accrued liabilities $ 19,400 $ 18,600
Unrealized hedging losses - 52,700
--------- -----------
Total current liabilities 19,400 71,300
Asset retirement obligations 283,700 -
Partners' capital:
Managing General Partner 556,200 593,200
Limited Partners (unlimited authorization 1,111 units
issued and outstanding) 4,071,800 4,378,700
Accumulated other comprehensive loss - (52,700)
------------ -----------
4,628,000 4,919,200
------------ -----------
$ 4,931,100 $ 4,990,500
============ ===========
The accompanying notes are an integral part of these financial statements
3
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2003 2002 2003 2002
---------- --------- ---------- ---------
REVENUES:
Natural gas and oil sales $ 303,200 $ 281,300 $1,036,900 $ 851,700
Interest income 200 500 700 1,300
--------- --------- ---------- ---------
Total revenues 303,400 281,800 1,037,600 853,000
COST AND EXPENSES:
Production expenses 76,700 71,400 210,700 225,700
Depletion and depreciation of oil and gas properties 86,900 144,500 358,200 517,800
Accretion of asset retirement obligations 4,100 - 12,200 -
General and administrative expenses 18,800 16,200 52,000 54,000
--------- --------- ---------- ---------
Total expenses 186,500 232,100 633,100 797,500
--------- --------- ---------- ---------
Income before cumulative effect of change
in accounting principle 116,900 49,700 404,500 55,500
Cumulative effect of change in accounting principle - - (43,500) -
--------- --------- ---------- ---------
Net Income $ 116,900 $ 49,700 $ 361,000 $ 55,500
========= ========= ========== =========
Allocation of net income (loss):
Managing General Partner $ 49,300 $ 39,200 $ 167,500 $ 105,000
========= ========= ========== =========
Limited Partners $ 67,600 $ 10,500 $ 193,500 $ (49,500)
========= ========= ========== =========
Net income (loss) per limited partnership unit:
Before cumulative effect of change in accounting
Principle $ 61 $ 9 $ 202 $ (45)
Cumulative effect of change in accounting principle - - 28 -
--------- --------- ---------- ---------
Net Income (loss) per limited partnership unit $ 61 $ 9 $ 174 $ (45)
========= ========= ========== =========
The accompanying notes are an integral part of these financial statements
4
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
STATEMENT OF PARTNERS' CAPITAL ACCOUNTS
NINE MONTHS ENDED SEPTEMBER 30, 2003
(Unaudited)
Accumulated
Managing Other
General Limited Comprehensive
Partner Partners Income(loss) Total
----------- ----------- ---------------- -----------
Balance at January 1, 2003 $ 593,200 $ 4,378,700 $ (52,700) $ 4,919,200
Participation in revenue and expenses:
Net production revenues 239,600 586,600 - 826,200
Interest income 200 500 - 700
Depletion and depreciation (43,300) (314,900) - (358,200)
Accretion of asset retirement obligations (1,400) (10,800) - (12,200)
General and administrative (15,000) (37,000) - (52,000)
---------- ----------- ---------- -----------
Income from operations 180,100 224,400 - 404,500
Cumulative effect of change in accounting principle (12,600) (30,900) - (43,500)
---------- ----------- ---------- -----------
Net Income 167,500 193,500 - 361,000
Cash flow hedge losses reclassified to gas sales - - 64,100 64,100
Change in fair value of cash flow hedges - - (11,400) (11,400)
Distributions to Partners (204,500) (500,400) - (704,900)
---------- ----------- ---------- -----------
Balance at September 30, 2003 $ 556,200 $ 4,071,800 $ - $ 4,628,000
========== =========== ========== ===========
The accompanying notes are an integral part of this financial statement
5
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
NINE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
STATEMENTS OF CASH FLOWS
(Unaudited)
Nine Months Ended
September 30,
2003 2002
---------- -----------
Cash flows from operating activities:
Net income $ 361,000 $ 55,500
Adjustments to reconcile net income to net cash
provided by operating activities:
Depletion and depreciation 358,200 517,800
Accretion of asset retirement obligations 12,200 -
Cumulative effect of change in accounting principle 43,500 -
Decrease in accounts receivable - affiliate 9,100 136,200
Increase in accrued liabilities 800 5,000
---------- -----------
Net cash provided by operating activities 784,800 714,500
Cash flows from financing activities:
Capital distributions (704,900) (670,300)
---------- -----------
Net cash used in financing activities (704,900) (670,300)
---------- -----------
Net increase in cash 79,900 44,200
Cash at beginning of period 1,600 19,700
---------- -----------
Cash at end of period $ 81,500 $63,900
========== ===========
The accompanying notes are an integral part of these financial statements
6
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
NOTES TO FINANCIAL STATEMENTS
September 2003
NOTE 1 - MANAGEMENT'S OPINION REGARDING INTERIM FINANCIAL STATEMENTS
The financial statements of Atlas-Energy for The Nineties - Public #8
Ltd. (the Partnership) for the three and nine months ended September 30, 2003
and 2002 are unaudited. Certain information and footnote disclosures normally
included in financial statements prepared in accordance with accounting
principles generally accepted in the United States of America have been
condensed or omitted in this Form 10-QSB pursuant to the rules and regulations
of the Securities and Exchange Commission. However, in the opinion of
management, these interim financial statements include all the necessary
adjustments to fairly present the results of the interim periods presented. The
unaudited interim financial statements should be read in conjunction with the
audited financial statements included in the Partnership's Form 10-KSB for the
year ended December 31, 2002. The results of operations for the three and nine
months ended September 30, 2003 may not necessarily be indicative of the results
of operations for the year ending December 31, 2003.
Certain reclassifications have been made to the financial statements
for the three and nine months ended September 30, 2002 to conform to the three
and nine months ended September 30, 2003 presentation.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Fair Value of Financial Instruments
For cash, receivables and payables, the carrying amounts approximate
fair value because of the short maturity of these instruments.
Asset Retirement Obligations-Change in Accounting Principle
SFAS No. 143, "Accounting for Asset Retirement Obligations" ("SFAS
143") establishes requirements for accounting for the removal costs associated
with asset retirements. The adoption of SFAS 143 on January 1, 2003 resulted in
the recording of an additional $228,000 to oil and gas properties representing
the estimated future well plugging costs (discounted to the present value at the
dates the wells began operations). In addition, a corresponding retirement
obligation liability of $271,500 was recorded (which includes accretion of that
discounted value to January 1, 2003). The cumulative effect of change in
accounting principle represents the accretion of the discounted plugging
liability and the depletion of estimated future plugging costs, added to oil and
gas properties from the date the wells began operations through January 1, 2003.
A reconciliation of the Company's liability for plugging and
abandonment costs for the nine months ending September 30, 2003, is as follows:
Asset retirement obligations at December 31, 2002 $ -
Adoption of SFAS 143 271,500
Accretion expense 12,200
--------
Asset retirement obligations at September 30, 2003 $283,700
========
Except for the item above, no other material retirement obligations
associated with tangible long-lived assets have been determined.
For the three and nine months ended September 30, 2002, the pro forma
effects of adopting SFAS 143 on January 1, 2002, would have decreased net income
$3,800 and $11,500 respectively. The asset retirement obligation would have been
$256,100 as of January 1, 2002.
7
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Supplemental Cash Flow Information
The Partnership considers temporary investments with a maturity at the
date of acquisition of 90 days or less to be cash equivalents. No cash was paid,
by the partnership for interest or income taxes for the nine months ended
September 30, 2003 and 2002.
Recently Issued Financial Accounting Standards
In April 2003, the Financial Accounting Standards Board ("FASB") issued
SFAS No. 149 ("SFAS 149") "Amendment of Statement 133 on Derivative Instruments
and Hedging Activates." SFAS 149 is effective for contracts entered into or
modified after September 30, 2003 and amends and clarifies financial accounting
and reporting for derivative instruments. The Partnership believes that adoption
of SFAS 149 will not have a material effect on its financial position or results
of operations.
In November 2002, the FASB issued Interpretation 45, "Guarantor's
Accounting and Disclosure Requirements for Guarantees, Including Indirect
Guarantees of Indebtedness of Others" ("FIN 45"). FIN 45 clarifies the
requirements for a guarantor's accounting for and disclosure of certain
guarantees issued and outstanding and requires a guarantor to recognize, at the
inception of a guarantee, a liability for the obligations it has undertaken. The
initial measurement of that liability is the fair value of the guarantee at its
inception. The initial recognition and measurement provisions are applicable on
a prospective basis to guarantees issued or modified after December 31, 2002.
The adoption of FIN 45 by the Partnership did not have a material effect on its
consolidated financial position or results of operations.
In May 2003, the FASB issued Statement No. 150, "Accounting for Certain
Financial Instruments with Characteristics of Both Liabilities and Equity." This
Statement requires that certain instruments that were previously classified as
equity on a company's statement of financial position now be classified as
liabilities. The Statement is effective for financial instruments entered into
or modified after May 31, 2003, and otherwise is effective at the beginning of
the first interim period beginning after June 15, 2003. The Partnership's
financial instruments do not have a mandatory redemption feature, therefore the
adoption of this Statement did not have a material impact on its results of
operations or financial position.
NOTE 3 - COMPREHENSIVE INCOME (LOSS)
The following table presents comprehensive income for the periods
indicated:
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------- ---------------------------
2003 2002 2003 2002
---------- ---------- ---------- ----------
Net Income $ 116,900 $ 49,700 $ 361,000 $ 55,500
Other comprehensive income (loss):
Unrealized holding losses arising
during the period (2,500) (37,900) (11,400) (75,300)
Reclassification adjustment for losses
realized in net income 22,500 700 64,100 6,200
---------- --------- --------- ---------
Comprehensive income (loss) $ 136,900 $ 12,500 $ 413,700 $ (13,600)
========== ========= ========= =========
8
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
NOTE 4 - TRANSACTIONS WITH ATLAS AND ITS AFFILIATES
The Partnership has entered into the following significant transactions
with Atlas Resources, Inc. (Atlas), the Managing General Partner, and its
affiliates as provided under the Partnership agreement:
o Administrative costs payable to Atlas at $75 per well per
month. Administrative costs incurred for the three months
ended September 30, 2003 and 2002 were $11,900 and $11,600
respectively. For the nine months ended September 30, 2003 and
2002 administrative costs were $35,900 and $35,500
respectively.
o Monthly well supervision fees payable to Atlas at $275 per
well per month for operating and maintaining the wells. Well
supervision fees incurred for the three months ended September
30, 2003 and 2002 were $36,100 and $35,600 respectively. For
the nine months ended September 30, 2003 and 2002 well
supervision fees were $109,100 and $108,300 respectively.
o Transportation fees paid to Atlas of $.29 per mcf.
Transportation costs incurred for the three months ended
September 30, 2003 and 2002 were $12,400 and $15,600
respectively, and $40,400 and $54,600 for the nine months
ended September 30, 2003 and 2002 respectively.
o As managing general partner, Atlas performs all administrative
and management functions for the Partnership including billing
revenues and paying expenses. Accounts receivable - affiliate
on the balance sheet represents the net production revenues
due from Atlas.
NOTE 5 - HEDGING ACTIVITIES
The Partnership, through the Atlas' energy subsidiaries, from time to
time enters into natural gas futures and option contracts to hedge the
Partnership's exposure to changes in natural gas prices. At any point in time,
such contracts may include regulated New York Mercantile Exchange ("NYMEX")
futures and options contracts and non-regulated over-the-counter futures
contracts with qualified counterparties. NYMEX contracts are generally settled
with offsetting positions, but may be settled by the delivery of natural gas.
Atlas formally documents all relationships between hedging instruments
and the items being hedged, including the risk management objective and strategy
for undertaking the hedging transactions. This includes matching the natural gas
futures and options contracts to the hedged asset. Atlas assesses, both at the
inception of the hedge and on an ongoing basis, whether the derivatives are
highly effective in offsetting changes in fair value of hedged items. When it is
determined that a derivative is not highly effective as a hedge or it has ceased
to be a highly effective hedge, due to the loss of correlation between changes
in gas reference prices under a hedging instrument and actual gas prices, the
Partnership will discontinue hedge accounting for the derivative and changes in
fair value for the derivative will be recognized immediately into earnings.
Gains or losses on future contracts are determined as the difference between the
contract price and a reference price, generally prices on NYMEX and are
accumulated in other comprehensive income (loss) to the extent that these hedges
are deemed to be highly effective as hedges, and are recognized in earnings in
the period in which the hedged item is recognized in earnings.
9
ATLAS-ENERGY FOR THE NINETIES - PUBLIC #8 LTD.
(A Pennsylvania Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
NOTE 5 - HEDGING ACTIVITIES (CONTINUED)
At September 30, 2003, the Partnership did not have a share in any open
natural gas futures contracts. However, the Partnership recognized a loss of
$64,100 and $6,200 on settled contracts for the nine months ended September 30,
2003 and 2002 respectively. The Partnership recognized no gains or losses during
the nine month periods ended September 30, 2003 and 2002 for hedge
ineffectiveness or as a result of the discontinuance of cash flow hedges. The
Partnership's net unrealized loss related to open NYMEX contracts was
approximately $52,700 at December 31, 2002. The unrealized losses were recorded
as a liability in the Partnership's Balance Sheets and in Partner's Capital as a
component of Accumulated Other Comprehensive Loss.
Although hedging can provide the Partnership some protection against
falling prices, these activities could also reduce the potential benefits of
price increases, depending upon the instrument.
10
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS
(UNAUDITED)
Forward-Looking Statements
WHEN USED IN THIS FORM 10-QSB, THE WORDS "BELIEVES" "ANTICIPATES"
"EXPECTS" AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING
STATEMENTS. SUCH STATEMENTS ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES MORE
PARTICULARLY DESCRIBED IN ITEM 1 OF OUR ANNUAL REPORT ON FORM 10-KSB. THESE
RISKS AND UNCERTAINTIES COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY. READERS
ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS,
WHICH SPEAK ONLY AS OF THE DATE HEREOF. WE UNDERTAKE NO OBLIGATION TO PUBLICLY
RELEASE THE RESULTS OF ANY REVISIONS TO FORWARD-LOOKING STATEMENTS WHICH WE MAY
MAKE TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE OF THIS FORM 10-QSB OR TO
REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
Management's Discussion and Analysis should be read in conjunction with
our Financial Statements and the notes to our Financial Statements.
Results of Operations
The following table, whose amounts are in thousands except sales prices
and production cost data, sets forth information relating to revenues recognized
and costs and expenses incurred, daily production volumes, average sales prices
and production cost per equivalent unit during the periods indicated:
Three Months Ended Nine Months Ended
September 30, September 30,
--------------------------- ------------------------
2003 2002 2003 2002
---------- -------- ---------- --------
Production revenues:
Gas $ 302 $ 281 $ 1,033 $ 852
Oil 1 - 4 -
Production volumes:
Gas (thousands of cubic feet ("mcf")/day) 627 724 773 864
Oil (barrels ("bbls")/day) - - - -
Average sales prices:
Gas (per mcf) (1) $ 5.27 $ 4.22 $ 4.89 $ 3.61
Oil (per bbl) $ 25.74 - $ 29.74 -
Average production costs:
As a percent of sales 25% 25% 20% 26%
(per mcf equivalent unit) $ 1.32 $ 1.07 $ 0.99 $ 0.96
(1) Our average sales price before the effects of
of hedging was: $ 5.63 $ 4.23 $ 5.20 $ 3.64
11
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS
(UNAUDITED) - (Continued)
Results of Operations - (Continued)
Revenues. Our natural gas revenues were $302,000 and $1,033,000 for the
three and nine months ended September 30, 2003, an increase of $21,000 (7%) and
$181,000 (21%) from the three and nine months ended September 30, 2002
respectively. The increases were due to increases in the average sales price we
received for our natural gas of 25% and 35% for the three and nine months ended
September 30, 2003 as compared to the same periods from the prior year.
Additionally our natural gas volumes produced decreased 13% for the three months
ended September 30, 2003 and 11% for the nine months ended September 30, 2003.
The $181,000 increase in gas revenue for the nine months ended September 30,
2003 as compared to the prior year same period consisted of $302,000 due to an
increase in natural gas sales prices and $121,000 attributable to a decrease in
production volumes. The $21,000 increase in natural gas revenue for the three
months ended September 30, 2003 as compared to the prior year, same period
consisted of a $68,000 increase attributable to an increase in natural gas sales
prices, offset by a $47,000 decrease due to lower production volumes. Our
revenues from our natural gas sales will be affected by changes in natural gas
prices, which are driven by market conditions. The overall decrease in gas
production volumes results primarily from the normal decline inherent in the
life of a well.
Expenses. Production expenses were $76,700 and $71,400 in the three
months ended September 30, 2003 and 2002 and $210,700 and $225,700 for the nine
months ended September 30, 2003 and 2002, respectively. The decrease for the
nine months is primarily due to fewer charges for repairs, maintenance and
transportation. These charges will fluctuate from period to period as work is
performed by the Managing General Partner to maximize potential production.
Depletion and depreciation of oil and gas properties as a percentage of
oil and gas revenues was 29% and 51% in the three months ended September 30,
2003 and 2002, and 35% and 61% for the nine months ended September 30, 2003 and
2002, respectively. This percentage decrease in the current year is directly
attributable to higher revenues and changes in our oil and gas reserve
quantities, product prices and reductions in the depletable cost basis of oil
and gas properties.
General and administrative expenses for the three months ended
September 30, 2003 and 2002 were $18,800 and $16,200, respectively, an increase
of 16%. For the nine months ended September 30, 2003 and 2002 these charges were
$52,000 and $54,000, respectively, a decrease of 4%. These expenses include
legal and audit fees, as well as the monthly administrative fee charged by the
managing general partner. Administrative fees may fluctuate each month as they
are only charged when a well is producing.
Cumulative effect of change in accounting principle. On January 1,
2003, we adopted SFAS No. 143, "Accounting for Asset Retirement Obligations"
("SFAS 143") which establishes requirements for accounting for the removal costs
associated with asset retirements. The cumulative effect of change in accounting
principle represents the depreciation and depletion on the additional cost basis
recognized for asset retirements and the accretion of the discounted plugging
liability from the date the wells began operations through January 1, 2003.
Liquidity and Capital Resources. Cash provided by operating activities
increased $70,300 in the nine months ended September 30, 2003 compared to the
nine months ended September 30, 2002. The increase was primarily due to
increases in the price we receive for our natural gas.
12
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS
(UNAUDITED) - (Continued)
Results of Operations - (Continued)
Cash used by financing activities increased $34,600 during the nine
months ended September 30, 2003 compared to the nine months ended September 30,
2002. The increase is the result of an increase in distributions to partners.
We had no material commitments to make capital expenditures and we do
not expect any in the foreseeable future, except that our managing general
partner may withhold funds for future plugging and abandonment costs. Any
additional funds, if required, will be obtained from production revenues or
borrowings from our managing general partner or its affiliates, which are not
contractually committed to make loans to us. The amount that may be borrowed may
not at any time exceed 5% of our total subscriptions, and no borrowings will be
obtained from third parties.
Critical Accounting Policies
The discussion and analysis of our financial condition and results of
operations are based upon our financial statements, which have been prepared in
accordance with accounting principles generally accepted in the United States of
America. The preparation of these financial statements requires us to make
estimates and judgments that affect the reported amounts of our assets,
liabilities, revenues and costs and expenses, and related disclosure of
contingent assets and liabilities. On an on-going basis, we evaluate our
estimates, including those related to our provision for possible losses, asset
retirement obligations and certain accrued liabilities. We base our estimates on
historical experience and on various other assumptions that we believe
reasonable under the circumstances, the results of which form the basis for
making judgments about the carrying values of assets and liabilities that are
not readily apparent from other sources. Actual results may differ from these
estimates under different assumptions or conditions.
For a detailed discussion on the application of policies critical to
our business operations and other accounting policies, see Note 2 of the "Notes
to Financial Statements" in our Annual Report on Form 10-KSB.
ITEM 3. CONTROLS AND PROCEDURES
Atlas' Chief Executive Officer and Chief Financial Officer have
evaluated our disclosure controls and procedures (as defined in Exchange Act
Rules 13a-14(c) and 15d-14(c) within 90 days prior to the filing date of this
report. Based upon this evaluation, these officers believe that our disclosure
controls and procedures are effective.
There were no significant changes in our internal controls or in other
factors that could significantly affect these controls subsequent to the date of
the last evaluation of our internal controls by our Chief Executive Officer and
Chief Financial Officer.
13
PART II. OTHER INFORMATION
ITEM 6. Exhibits and reports on Form 8-K
We have not filed any reports on Form 8-K during the last quarter
of the period covered by this report.
EXHIBIT INDEX
Description Location
----------- --------
4(a) Certificate of Limited Partnership for Previously filed in the Form
Atlas-Energy for the Nineties-Public #8 Ltd. 10-KSB for the period ending
December 31, 1999
4(b) Amended and Restated Certificate and Agreement Previously filed in the Form
of Limited Partnership for Atlas-Energy for the 10-KSB for the period ending
Nineties-Public #8 Ltd. December 31, 1999
10(a) Drilling and Operating Agreement with exhibits Previously filed in the Form
10-KSB for the period ending
December 31, 1999
31.1 Certification pursuant to rule 13a-14(a)/15d-14(a) Page 16
Certification
31.2 Certification pursuant to rule 13a-14(a)/15d-14(a) Page 17
Certification
99.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Page 18
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
99.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Page 19
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
14
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, thereunto duly authorized.
Atlas-Energy for the Nineties-Public #8 Ltd.
By:(Signature and Title): Atlas Resources, Inc., Managing General Partner
By (Signature and Title): /s/ Freddie M. Kotek
-------------------------------------------------
Freddie M. Kotek, Chairman of the Board of
Directors, Chief Executive Officer and President
Date: 11/14/03
--------
In accordance with the Exchange Act, this report has been signed by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title): /s/ Freddie M. Kotek
-------------------------------------------------
Freddie M. Kotek, Chairman of the Board of
Directors, Chief Executive Officer and President
Date: 11/14/03
--------
By (Signature and Title): /s/ Nancy J. McGurk
-------------------------------------------------
Nancy J. McGurk, Senior Vice-President, Chief
Financial Officer and Chief Accounting Officer
Date: 11/14/03
--------
15