Subject: File No. s7-29-07
From: Elizabeth Collins
Affiliation: Senior Equity Analyst, Morningstar, Inc.

February 21, 108

In my view, I think oil and gas companies should be required to provide a "Management's Discussion and Analysis" regarding the changes in estimated reserves. It would be helpful for securities analysts and investors to receive more details on the major drivers behind revisions of previous estimates and discoveries and extensions, for example.