[Federal Register Volume 72, Number 101 (Friday, May 25, 2007)]
[Notices]
[Page 29320]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 07-2606]


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FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD


Notice of New Exposure Draft Accounting for Federal Oil and Gas 
Resources

AGENCY: Federal Accounting Standard Advisory Board.

ACTION: Notice of new exposure draft Accounting for Federal Oil and Gas 
Resources.

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    Board Action: Pursuant to 31 U.S.C. 3511(d), the Federal Advisory 
Committee Act (Pub. L. 92-463), as amended, and the FASAB Rules Of 
Procedure, as amended in April 2004, notice is hereby given that the 
Federal Accounting Standards Advisory Board (FASAB) has issued an 
exposure draft, Accounting for Federal Oil and Gas Resources.
    The Exposure Draft proposes standards that would result in 
recognition of the estimated value of royalties from Federal oil and 
gas leases and changes in those values over time as well as the amount 
of royalties designated for distribution to other entities such as 
State governments.
    The Exposure Draft is available on the FASAB home page http://www.fasab.gov/exposure.html. Copies can be obtained by contacting FASAB 
at (202) 512-7350. Respondents are encouraged to comment on any part of 
the exposure draft. Written comments are requested by September 21, 
2007, and should be sent to: Wendy M. Comes, Executive Director, 
Federal Accounting Standards Advisory Board, 441 G Street, NW., Suite 
6814, Mail Stop 6K17V, Washington, DC 20548.

FOR FURTHER INFORMATION CONTACT: Wendy Comes, Executive Director, 441 G 
Street, NW., Washington, DC 20548, or call (202) 512-7350.

    Authority: Federal Advisory Committee Act, Pub. L. No. 92-463.

    Dated: May 22, 2007.
Charles Jackson,
Federal Register Liaison Officer.
[FR Doc. 07-2606 Filed 5-24-07; 8:45 am]
BILLING CODE 1610-01-M