Richard J. Miller & Associates, Inc., founded in 1977, is a petroleum engineering consulting firm specializing in the market value appraisal of oil, gas and geothermal producing properties in the United States and Canada. The firm provides services to clients in the areas of production and reservoir engineering; evaluation for enhanced recovery; and economic evaluation for market value purposes such as institutional financing, ad valorem tax, and estate tax. A primary focus of the firm’s services is providing analytical and appraisal support as consultant and/or expert witness for administrative and regulatory litigation in property tax appeals, eminent domain valuation, and estate tax determination.

For many years Richard J. Miller & Associates, Inc. (RJM Bio) has concentrated on economic evaluation and appraisal of oil and gas properties for property and estate tax purposes. As part of this work, the firm has previoulsy been retained to conduct an annual market study of California oil and gas property transactions, and derivation of capitalization rates from a cost-of-capital analysis. This study is funded by the Western States Petroleum Association and is used as part of the process for determining appropriate appraisal parameters for ad valorem tax assessment in California and Texas, as well as other jurisdictions. In addition, RJM&A publishes a periodic newsletter on the appraisal of oil and gas properties and conducts seminars and short courses in appraisal practice.

RJM&A provides services as an appraiser and/or auditor for minority working interest owners, net profits interests and royalty owners in oil and gas properties. These services are normally arranged through an ongoing retainer agreement, however, evaluations for specific purposes and time periods may also be provided. Clients using these appraisal services include major bank trust departments, individual and family trusts, and individual or corporate owners, minority working interests, royalties and/or net profits interests.

Satrting in 2008, RJM & A has developed a significant practice in working with individual property owners, hunting club, attorneys and CPA's to value royalty interests in the Marcellus Shale of Pennsylvania.

Current and Previous Clients of the firm in these areas include:

• AERA Energy, LLC	• Western States Petroleum Association
• Occidental Petroleum	• Wells Fargo Bank
• ChevronTexaco, Inc.	• California State Lands Commission
• ExxonMobil Corp.	• U.S. Internal Revenue Service
• U.S. Department of Justice
• and numerous major Law Firms and Accounting Firms in California, Texas and Pennsylvania