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MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF SEPTEMBER 30, 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS. HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO FISCAL YEAR 2010. FORM 990 - ORGANIZATION'S MISSION RPSEA IS A MULTI-PURPOSE ENTITY ESTABLISHED TO FACILITATE A COOPERATIVE EFFORT TO IDENTIFY AND DEVELOP NEW METHODS AND INTEGRATED SYSTEMS FOR EXPLORING, PRODUCING AND TRANSPORTING TO - MARKET ENERGY OR OTHER DERIVATIVE PRODUCTS FROM ULTRA-DEEPWATER AND UNCONVENTIONAL GAS RESERVOIRS. FORM 990, PAGE 2, PART III, LINE 4D RPSEA IS A MULTI-PURPOSE ENTITY ESTABLISHED TO FACILITATE A COOPERATIVE EFFORT TO IDENTIFY AND DEVELOP NEW METHODS AND INTEGRATED SYSTEMS FOR EXPLORING, PRODUCING AND TRANSPORTING TO - MARKET ENERGY OR OTHER DERIVATIVE PRODUCTS FROM ULTRA-DEEPWATER AND UNCONVENTIONAL GAS RESERVOIRS. FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT. ONCE COMPLETE, IT IS REVIEWED BY MANAGEMENT AND SIGNED BY THE PRESIDENT, JAMES PAPPAS. FORM 990, PAGE 6, PART VI, LINE 12C EMPLOYEES AND BOARD MEMBERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE. IF A CONFLICT ARISES, THE INDIVIDUAL IS RECUSED FROM DECISION MAKING RESPONSIBILITY WITH RESPECT TO THE COMPANY FOR WHICH HE HAS DISCLOSED A CONFLICT. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION IS DETERMINED BASED ON COMPARATIVE MARKET SURVEYS. THE PRESIDENT AND VICE PRESIDENT DETERMINE COMPENSATION FOR ALL EMPLOYEES HIRED. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION IS DETERMINED BASED ON COMPARATIVE MARKET SURVEYS. THE PRESIDENT AND VICE PRESIDENT DETERMINE COMPENSATION FOR ALL EMPLOYEES HIRED. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS 0 18,052 0 RESEARCH & DEVELOPMENTS 35,768,530 0 0