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IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ) ) 1 Pacific Energy Resources Ltd., et al., ) ) Debtors.

) ) ) ___________________________________ ) In re: Chapter 11 Case No. 09-10785 (KJC) (Jointly Administered)
Objection Deadline: January 31, 2011

NOTICE OF PROPOSED SETTLEMENT Gerald A. Tywoniuk (the “Plaintiff”), Plan Representative for Liquidating Debtors2 (“Liquidating Debtors”) in the above-captioned case proposes to settle a potential action arising under chapter 5 of the Bankruptcy Code against the following transferees: Transferees: Clean Harbors Environmental Services, Inc. Potential Chapter 5 Claim: $73,484.53 Gross Settlement Amount: $19,800.00 ($18,000.00, plus waiver of claim under 11 U.S.C. § 502(h))

Pursuant to the Order Granting Motion of the Official Committee of Unsecured Creditors: (I) for Standing to Pursue Causes of Action Belonging to Debtors’ Estates Arising Under Chapter 5 of the Bankruptcy Code; and (II) for Approval of Procedures and Authority Governing Settlement of Chapter 5 Causes of Action [D.I. 1521], objection(s), if any, to the proposed settlement, together with a request for a hearing, on such objection shall be: (i) filed with the Clerk of the United States Bankruptcy Court for the District of Delaware, 824 Market Street, 3rd Floor, Wilmington, Delaware 19801, on or before January 31, 2011; and (ii) served upon the undersigned counsel to the Plaintiff so as to be received on or before

The Debtors in these cases are: Pacific Energy Resources Ltd.; Petrocal Acquisition Corp.; Pacific Energy Alaska Holdings, LLC; Carneros Acquisition Corp; Pacific Energy Alaska Operating LLC; Carneros Energy, Inc.; and Gotland Oil, Inc. The Liquidating Debtors in these Chapter 11 cases are: Pacific Energy Resources Ltd., Pacific Energy Alaska Holdings, LLC, and Pacific Energy Alaska Operating LLC.


January 31, 2011. If no objection is timely filed and served in accordance with this notice, the settlement will be deemed approved without further notice or hearing.

Dated: January 21, 2011 Wilmington, Delaware

Respectfully submitted,

/s/ Michael J. Custer ____________ PEPPER HAMILTON LLP David B. Stratton (No. 960) James C. Carignan (No. 4230) Michael J. Custer (No. 4843) John H. Schanne, II (No. 5260) Hercules Plaza, Suite 5100 1313 N. Market Street P.O. Box 1709 Wilmington, DE 19899-1709 (302) 777-6500 and Francis J. Lawall, Esq. Nina M. Varughese, Esq. 3000 Two Logan Square Eighteenth and Arch Streets Philadelphia, PA 19103-2799 (215) 981-4000 Counsel to the Plaintiff

CERTIFICATE OF SERVICE I, Michael J. Custer hereby certify that on the 21st day of January, 2011, I caused the foregoing Notice of Proposed Settlement to be served upon the following parties via United States mail, first-class, postage prepaid. Pachulski Stang Ziehl & Jones LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, DE 19899-8705 Attn: Laura Davis Jones, Esq. Attn: James E. O'Neill, Esq. Attn: Kathleen P. Makowski, Esq. Bingham McCutchen LLP 399 Park Avenue New York, NY 10022-4689 Attn: Jeffery S. Sabin, Esq. Office of the U. S. Trustee J. Caleb Boggs Federal Building Room 2207 844 N. King Street Wilmington, DE 19801 Attn: Joseph McMahon, Esq. Pachulski Stang Ziehl & Jones LLP 10100 Santa Monica Blvd., 11th Floor Los Angeles, California 90067-4100 Attn: Ira D. Kharasch, Esq. Attn: Robert M. Saunders, Esq.

Skadden Arps Slate Meagher & Flom LLP 333 West Wacker Drive, Suite 2100 Chicago, IL 60606 Attn: Seth E. Jacobson, Esq.

/s/ Michael J. Custer Michael J. Custer (No. 4843)