ONITED STATES BANKRUPTCY COURT DISTRICT OF DELA WARE

In re: Pacic Energy Alaska Holdings. Inc.

Case No. 09- i 0787

Debtor

Reporting Period: SePtember 2009

MONTHLY OPERATING REPORT

v' v' v'

N/A N/A

if if
v'

N/A N/A
v' v' v' v'

N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

i declare under penalty of perjury (28 V.S.C. Section J 746) that this report and the attached documents are tlUe and correct to the best of my knowledge and belief.

Signature of Debtor

Date

Date

November 12, 2009

Date

Wiliam F. Lyng
Printed Name of Authorized Jndi vidual

Group Controller

Title of A uthorized Individual

'Authorized individual must be an offcer. director or shareholder if debtor is a corporation;" paltner if debtor is a partnership;" manager or member if debloi' is a limited liabilty company.

MOR (04/07)

In I'e: Pacific Energv Alaska Hoidin~s. Inc, Debror

Case No, 09-10787 Reporting Period: Se~reinber 2009

SCHEDULE OF CASH RECEIPS AND DISBURSEMENTS

THE FOLLOWING SECTION MUST BE COMPLETED

DSIiiiDW~A~";1)'&fuS'ijAR.YiFr0ai..ri~Mo~tii~Cim~iN);'~t:%~%L'.'"~ii,!Krr%I~'~fiEYJ.Bt~Xr~;;;
TOTAL DISBURSEMENTS
LESS: TRSFES TO DEBR TN POSSESSTON ACCOUNTS
SO.OO SO.OO

PLUS: ESTATE DTSBlISBMENTS MADE BY OUTSIDE SOURCES Ci.e. frm escrowacOlnllS)

$0.00 $0.00

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE OUARTERL Y FEES

FOR.'\ MOR.

(047)

In reo Pacific Energv Alaska Holdings, Inc.

Case No, 09-107R7

Debtor

Reporting Period: SePtember 2009

BANK RECONCILIA nONS

Cantiinatian Sheet far MOR-!

BANK BALANCE

(+) DEPOSITS IN TRANSlT (ATTACH LIS'

~i.

"

(-) QUTSTANDli'lG CHECKS (ATrACH LIS' if

Pacific Energy Alaska Holdings, Inc. does not maintain any cash accounts.

ADJUSTD BANK BALANCE'

. Adjuited bank balance must equal
balance per books

~
~ ~
~:

l'.;

i:r:.

FORM MOR-In (04101)

In re: Pacific Energy Alaska Holdings. Inc. Debtor

Case No. 09-10787

Reporting Period: September 2009

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

No profesional fees were paid post-petiion.

FORM MOR-Ib
(04107)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09-10787

Reporting Period: September 2009

STATEMENT OF OPERATIONS
(Income Statement)

Q:aln~~~)E.i~N.sESt~~ltAt~&~Jj11~~lF*-lEtJgr~-~i~~~~;;f~~AitSS~~~~~qtt~~ir~~&~~N~~~~~~~~~~tg~~)~~J&~~~~'gf.~~~t1.\lgf~ ...,. _. un ". ._... . --.-'

Repairs and maintenance
-

Salaries/commssions/fees Transportation expense Utilities Insurance Employee benefit programs

Taxes - 1)roduction

Inventory change Rent and lease expense Travel and entertainmnt

SU1)plies

Advertising Auto an truck

Bad debt

Contributions Insider compensation

Manaoement feeslonuses

..~.'.":''''~.''.."- '~""'-'''''~::'''':..:::.',' '" .. ..,.~ .~""~:__',':'_"~'" .,:_-c~~::.:."':'._:. t..... .,._...".,~.,::: '.e"'e,..~,--_,;~",.":"'. :C'::~~~_.' . '..-~ .c..-..,,,._,.~.:..:,,~.C'~...,. ......-~:.-.~..c.',._.: .,\I_R:m'(liMJ~f~ENSES))")"'l!~R,,.';'*r'J:;i'$'8';~"'i"""B'6H"?~,.;,''.'s~D)K;%~;K?'$~t,fi"?""?,-,,,f,,'l''i'j:'''r'''''tf,;;t';G.si's:"""T"i-~"%'p, .H.~.....,....... u .. . .~.._no__ .. ~- '-."", ......-....,.~....'"._...~-. -- ._.... ..,' ,"n. _~.."._...".~..._......_ .. . .~-,.."'.....-.".._.AA.............'''-, ~~."~' .-.... .' . .
,.

Office expenses Pension& profit sharng plans Taxes - payroll Taxes - real estate Taxes - other General and administrative Depreciation, depletion and amortization Net Profit (Loss) Before Otler Income & "~"':-'-',~-":;"".:"::: Expenses

Accretion of discounts and amonization of deferred financing costs Interest expense- non-cash - paid in kind Stock compensation expense Interest and dividends Realized gain/(loss) on derivatives Interest expense- cash Other revenue General exploration expense
Income from eQuitY Inveslment

..

(16.00) (1,920,000) Net Profit (Loss) Before Reorganization Items (176,000) (1,920,000) ::" :' '.X~~5t::.!~l:~W4':t';~~':r:~i~-::~t~~:;:/j.:.i::~"'~~:::::~r.;)..~;~~:;::.,~~,.::.~~~,\.;.::.~':;,;:.?..~i;:;~;;::..':!'~':-;::~:-::,;=.::~~:.~-:,;;t,~..:.,::':~.'i'~.:~;.:...?::~:'s.::...;,..-*':~:::;:?:'i.;,'-~;.::.~~:~.;:,~:::,:'j:;'.~:::l:i:::~.i,;:~~~,r';i~.; RERG.'N:An.N~M$.'"""h~.""'"5;"','\'"':""';j'iS."i""'''C~'.'''''i''''~'''ci''is''"'i''~'..'"!;,,,'~,'',''')''';i''.':'''~::,,'''''O~;;"'"""""",,"",",tb"i.~"i""";""""."."4,"~"".",".,'i""';o'l",-. .,....- --. . . ."~' . .. ...... ......,. ....... Professional Fees Loss on Alaska abandonment 9,665,816 9,665,816 Net Profit (Loss) $ (9,841.816) $ (11.585,816)
Note: The Cumulative Filing to Date income statement above reflect the Company's activity for the entire month of March.

FORM MOR-2
(04107)

In re: PHcifjc Ener1!v Alaska Holdings. Inc.

(),,; No. 09- i 0787

Re.portina Period: Seotemher 2009

Debtor

BALANCE SHEET

62.118.089

(17.000)
(J 1.585.816)

FORM MOR-)

(041)

In reo Pacific Energv Alaska Holdings. rne. Debtor

Case No. 09-10787

Reporting Period: SePtember 2009

BALANCE SHEET. continuation sheet

Inlercom an Receivables

Derivative Assets Advances Other Receivables Total Other Curent Assets

Investments-PEAO lnvestments-CIPL Total Other Assets

$
$

50,355,273

FORM MOR-3 C01o"lD (04/07)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

STATUS OF POSTPETITION TAXES

Case No. 09-10787 Reporting Period: SePtember 2009

Not Applicable

Not Applicable

SUMMARY OF UNAID POSTPETITION DEBTS

Not

Applicable

FOR.\1 MOR4
(04107)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09- 1 0787

Repoiting Period: September 2009

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

_... .-. lI1i.\Wi\miilif.~1t~iltilfi~~9~~\ik~%~i&~~M;if;%.iitll~~lW~'i~~~Wlff~~~f~i~~Ji:&m~~lt~~t0tjffl&1)~; '.-- -.. -- .- ... .,,,.,,.. .-.,--.-._-._........Total Accounts Receivable at the beginning ofthe reporting period I + Amounts biled during the period - Amounts collected during the period Not Applicable Total Accounts Receivable at the end of the reporting period I

~~QtiamR~C'tyll~~:gngi;1t~,~~1ll~~i~1iii%:;~t~~l~~glt~~ff~~Ii~ll~f~l'~~~fJ;~~tltllfmQl~~rm,1I~~l
0 - 30 days old 31 - 60 days old 61 - 90 days old 91+ days old
I

Not Applicable

Total Accounts ReceIvable Accounts Receivable (Net)

DEBTOR QUESTIONNAIRE
!&~~li&~j!t~'i~~li'it~l,i.~~*jg'iWgL~~wfJ'i~lf~~~~~lt~~~l~l~~1'i&'i;f~t~il~i;li!:.(g~~~k~~~rWil~~t~;~ltii.N())tlBi ...~,._.... ._"..._,_,....~,..c:~_ .;.~."._~" "'-" , "'...~~.-: _."...~...~"".'.._... ..'..__. -..~ ~-:.~.~...:..::.f.cr_:'.,_,~..r-"~"'"'::."::.:..__'_~r". ,. "'~":'''_ .~....._~.,._,....,_c... . '-,' ."-.-~..--,.,-.:,,.;. :...,.:...'..........n... ...-...'.-...... .~: .'-,........_..._....:.....rC.;. . ..."~.,....~_.:
1. Have any assets been sold or transfen'ed outside the normal course of business

No No
Yes

this reporting period? If yes, provide an explanation below.

2. Have any funds been disbursed from any account other than a debtor in possession

account this reporting period? If yes, provide an explanaton below.

3. Have all postpetition tax returns been timely filed? If no, provide an explanation

below.
4. Are workers compensation, general

liability and other necessary insurance

Yes

coverages in effect? If no, provide an explanation below,

5. Has any bank account been opened during the reporting period? If yes, provide

No

documentation identifying the opened account(s). If an investment account has been opened
provide the required documentation pw'Suant to the Delaware Local Rule 4001-3.

FORM MOR-S (04/07)