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drought that peaked in 2002 - 2003 has also forced LAWMA to take a closer look at the adequacy of its replacement water sources. Accordingly, in order to firm-up its replacement water supplies in dry-years and to keep more water in storage in John Martin Reservoir LAWMA needs to acquire additional senior water rights and water rights that can be stored in John Martin Reservoir's Offset Account would be even more beneficial to LAWMA. LAWMA has a significant need to put more replacement water in John Martin Reservoir's Offset Account to cover it members' augmentation needs. The Keesee water rights that LAWMA is proposing to acquire with CWCB loan funds would provide LAWMA with a critical source of replacement water in dry years because the rights are very senior and would greatly assist LAWMA in making its Arkansas River Compact obligations because the Keesee's direct flow rights can be stored directly in the Offset Account. Also, the Keesee Article II Storage Account would provide LAWMA with an additional source of replacement water in storage in John Martin Reservoir that could be carried over from wet years into dry years. E. Proposed Use of the Keesee Water Ri�hts bv LAWMA as a Source of Renlacement Water. Upon acquiring the remaining one-half of the Keesee water rights and Article II Storage Account in John Martin Reservoir LAWMA would divert or otherwise take consumptive use credits for water that is available to its portion of the Keesee water rights in two ways. At times when John Martin Reservoir is not in conservation storage the consumptive use and winter return flow obligation portions attributable to LAWMA's portion of the direct flow Keesee water rights would be stored in the Offset Account in John Martin Reservoir. As stated above, the ability to store the direct flow Keesee water rights in John Martin Reservoir makes them particularly attractive for purchase by LAWMA. During times when John Martin Reservoir is in conservation storage, LAWMA would develop a procedure for measuring its portion of the direct flow Keesee water rights in-stream or divert its portion of the direct flow Keesee water rights at the Keesee Ditch headgate, measure, and return those flows to the Arkansas River by means of an augmentation station constructed offof the Keesee Ditch. The replacement credit for LAWMA's direct flow Keesee water rights would be equal to the volume of the water rights in priority multiplied by the following stream depletion rates. April 75.0% May 77.0% June 73.0% July 74.0% August 70.0% September 65.0% October 57.5% 0