UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE

In re: Pacific Energy Alaska Operating, LLC. Debtor

Case No. 09-10789 Reporting Period: December 2010 MONTHLY OPERATING REPORT Form Na

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Document
Aftae& eh

REQUIRED )OCUMENTS
Schedule of Cash Receipts and Disbursements Bank Reconciliation (or copies of debtor’s bank reconciliations) Schedule of Professional Fees Paid Copies of bank statements Cash disbursements journals Statement of Operations Balance Sheet Status ofPoslpetition Taxes Copies of IRS Form 6123 or payment receipt Copies of tax returns filed during reporting period Summary of Unpaid Postpetition Debts Listing of aged accounts payable Accounts Receivable Reconciliation and Aging Debtor Questionnaire

xp1naioi Aft’idavd/Supement
Atfah

MOR-1 MOR-la MOR-lb

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N/A N/A MOR-2 MOR-3 MOR-4
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MOR-4 MOR-4 MOR-5 MOR-5

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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 penally of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

Signature of Debtor

Date

Signature of Joint Debtor

Date

Signature ofAuth6riz d Individual*

January 21, 2011 Date

Gercv Tywonluk Printed Name of Authorized Individual

Plan Representative Title of Authorized Individual

*Authorized individual must bean officer, director or shareholder if debtor is a corporation; a partner ifdebtor is a partnership; a manager or member if debtor is alimitcd liability company.

MOR
(04/07) 

In cc: Pacific Energy Alaska Operaling, LLC. Debtor

CaseNo. 09-10789 Repoiling Period: December 2010

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
:

’-.

.:

-:-

.

ASII8Y.GINNUiC OPRIOU RI.( i IFT3

I

OPOR. .’LOCKROX 1.314,4301

’I
-

SEGREOATI-31’ 12.350730

I

RERVO ........ ..P’AS1( -- . 510.7671 - II

’ACWA 14.175.

CASH SALES LOANS AND ADVANCES TRANSFERS TRANSFERS FOR ESCROW OTHER TOTAL RECEIPTS

-

-

10.16,665

2,785

-

-

-

2,785
::

4,487,702 6,631,812 7.659,159 28,955,338

-

-

2,775 2.775
.
’.-?’V5

10 10

2,785 5.569

2.785

sauEMs
OPERATING EXPENSES TRANSFERSTOLOCKBOX TRANSFERS TO ESCROW TRANSFERS TO PEAO TRANSFERS TOOPERATING TRANSFERS TO ORRI DEBT REDUCTION ’NI EREST PAYMENTS

.

,’

___________________________..,...’
142,239
-

L
212
-

’3

’ -

12,350,720
. -

12,493,171
-

16,714,044 9,511 3,753,794 232.903 1,538,097 73,741 5.759,510

-

-

2,785
-

2,785
-

-

-

-

-

OTHER
TOTALIHSBURSE.MENTS
,

10,716

142.239 .-

12353 .505
(12,350,730)
.

12,49

r..

28,092,316

’lET

-

FLO

(139,454)

-

(202)
k

(12,490,386)
.

663,022
. ......

..’
CASH ERD OF’407II

.........,, .................
1174984

............, ..............
]

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(FROM CUI11

510565

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1685549J
-

1685 54I]

))SH’uI.SgMEWrS P85e CALCULATINGILc mUSTER OUA ER13rpg,cTOTAL DISBURSEMSNTS

B7FEI ACFUALCAUJMW

[l2.495,955

28,092,316

LESS: TRANSFERS 10 DEBTOR IN POSSESSION ACCOUNTS PLU& ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

FOEM MOE-I (04W) 

In Fe: Pacific Energy Alaska Operating, LLC. Debtor BANK RECONCILIATIONS
Continuation Sheet fur MOR-1

Case No. 09-10789 Reporting Period: December2010

0247722sn,

#8083nx

IBALANCE PER BOOKS BANK BALANCE -. (+) DEPOSITS IN TRANSIT (ATTACH LIST) OUTSTANDING CHECKS (ATTACH LIST) OTHER (ATTACH EXPLANATION) ADJUSTED BANK BALANCE *
(-)

I

1,174,984

-

-

510,565 510,565

-I 1,685.549

i_I -i-i5i:i
1,174,984

-

510,565

-

1.685,549

-

*

Adjusted bank balance must C(jual balance per boots

.

-

-

-

1,685,549

-

FORMMOR.In (04101) 

In re: Pacific Energy Alaska Operating, LLC. Debtor

Case No. 09-10789 Reortin Period: December 2010

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

No profesional fees were paid post-petition.

F0R1 MOR-ib (04/07) 

In re: Pacific Energy Alaska Operating, LLC. Debtor
(Income Statement)

Case No. 09-10789 Reporting Period: December 2010

STATEMENT OF OPERATIONS

.

........... ............... . . -. ... -. ’. .: . ..

Cqmuiatiye:..
iliiig to Date $

RFVENUF.S Oil and gas production revenue
Royalties Net Revenue

1onth
$ -

19,091,568 1,182,615 20,274,183

Note: The cumulative income statement above includes the Company’s activity for the entire month of March 2009. The Company filed for Chapter 11 protection on March 9, 2009.

FORM MOR-2 (04(07) 

In re: Pacific Energy Alaska Operaline. LLC. Debtor

Case No. 09-10789 Reporting Period: December 2010

BALANCE SHEET
ASSkTS CURRENT ASSETS Unrestricted Cash and Equivalents Restricted Cash and Cash Equivalents -

..’BOQKyAUEAT’EO C NTRRPORTJNQ MO?fl S 1,174,98 510.56:

ITOTAL CURRENT ASSETS PROPRRTYAN D EQUI1T Proved Properties Including Lease and \VeIl Equipment In Process Development Unproved Propeilies 0111cc Equipment and Software Vehicles Other Equipment and Leasehold Improvements Pipelinc Equipment Less Accumulated Depreciation TOTAL PROPERTY & EQUJPMENT 0fl3ER ASSETS 1011ierAssets (Sec Attached Schedule)

Is
$

7,744,867
-

$ -

is
.,:

7-8. .

...

:
-

:;

.

LTAB1I11ES AI1 OWNRR EQIIITY
r.1ARYI1T1flT5TRW(TA A’(Te
..........................

-

..............
-

cuoxrn I
.......................................- ....

;.-

Accounts Payable and Accrued Liabilities Taxes Payable Wages Payable Notes Payable - Debtor-in-possession financing Payable to Rise Energy and SiLverpoint Secured Debt/ Adequate Protection Payments Professional Fees I ntercompany Payables Asset Retirement Obligations Accrued Interest Other Liabilities TOTAL POSTPETITION LIABIUTLES LIABILITIES SUBJECT TO CO\IPROI%IYSE (Prc-Petitios) Secured Debt Priority Debt Unsecured Debt Intercompany Payables TOTALPRE -PETIT IONLIAI3ILITIES
.

S

. -

1.746,055
-

265,363,962
-

-

$ -

267,180,566
-

S

.-

.

-.-

. .

47,759,980 119,929,561 167,689,541
434,870,107
1

TOTAL LIABILITIES . OWNER EQUITY Share Capital Contributed Surplus Warrants Additional Paid In Capital Accumulated Other Comprehensive Loss Partners’ Capital Account Owner’s Equity Account Retained Earnings -Pre-Pelition Retained Earnings -Poslpetition Adjustment to owner Equity (attach schedule) Postpeition Contributions (Distributions (Draws) (attach schedule) NET SHAREHOLDERS EQUITY
. ,

s
$

-

-

(305,15I,270 (121,973,9701
.

., s.

4225,2401

TOTALLIABIflMD.WIES’RQiJ11

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1.

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(sees) 

In re: Pacific Energy Alaska Operating, LLC. Debtor

Case No. 09-10789 Reporting Period: December 2010

BALANCE SHEET - continuation sheet
. ... .. :. :.

OthcrCurrntAsset 1nterconlp3fly Receivables Derivative Assets Advances Other Receivables Total Other Current Assets Other Assets Performance Bonds Investments-Abandonment Total Other Assets

ASSE1S - - -

(&?RR

O’RT1MMOT11

-- --

$ $ Is --

5.759,540 299,778 6,059,318 -

FORMMOR-3 COTD (04/0?) 

In re: Pacific Energy Alaska Operating, LLC. Debtor STATUS OF POSTPET1TION TAXES
.. ...
Withhcldor

Case No. 09-10789 Reporting Period: December 2010

.

..- . Arnoin(

.

lax

Date
Paid

..

Lnbihty Withholding FICA-Employee FICA-Employer Unemployment Income Total Federal Taxes

Accnid

Paid

(liCckNo orI

,

. .

..........

’tax LiihiIity

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See Attestation of Regard Postpetitaon Taxes

Statc’andLoc1
Withholding Sales Excise Unemployment Real Properly Personal Property Total State and Local Total Taxes

.......

:..

.,.,.

......

-

-

-

-

-

-

-

SUMMARY OF UNPAID POSTPETITION DEBTS
,.....
[

.

:.-

piovew

Cr

Accounts Payable Non-Operated Accruals Accrued Royalties Accrued ORRIs Accrued Operating Expenses Total.Postpetition Debts

-

-

.9 70,549
-

70,549
-

-

-

-

-

-

-

70,549

70,549

FORM MOR-4
(04101) 

In re: Pacific Energy Alaska Operating, LLC. Debtor

Case No. 09-10789 Reporting Period: _December 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING r.Amrnlnt 1
-

lAccounts Rccciyablc.Aiu

.. ......................................

-.............

. .,

:

.

0-3O days old 31-6O days old 61- 90 days old 91+ days old Total Accounts Receivable Amount considered uncollectible (Bad Debt) Accounts Receivable (Net)

-

-

-

-

DEBTOR QUESTIONNAIRE
Must be cornKted etch month
I. Have any assets been sold or transferred outside the normal course of business 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 explanation 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 coverages in effect? If no, provide an explanation below. All insurance coverage has been cancelled as the property was abandoned. 5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.

-

YsfNo No No Yes No

No

FORM MOR-5 (04(07) 

PACIFIC ENERGY

January 21, 2011

Office of the United States Trustee

Subject: Attestation Regard Bank Account Reconciliations The debtor, Pacific Energy Alaska Operating. LLC., hereby submits this attestation regarding

bank account reconciliations in lieu of providing copies of bank statements and copies of all account
reconciliations. The debtor has, on a timely basis, performed all bank account reconciliation in the ordinary course of its business. Copies of bank account statements and reconciliations are available for inspection upon request by the United States Trustee’s Office.

Ger ry’fyw o niu

( 1A.It" f7~
Plan Representative

State of California County of Los Angeles Subscribed and sworn to (or affirmed) before me on this 21st day of January, 2011 by &ERR-( T’/WOiJJC’K proved to me on the basis of satisfactory evidence to be the person(s) who appeared before me.
.

Gail -pp, Notary P b c
GAll. ROPP COMMISSION #1757533 Notary Public - California LOS ANGELES COUNTY My Comm. Expies July 16. 201

L

1 - 16 -11
My commission expires

Pacific Energy Resources Ltd, 111 West Ocean Blvd., Suite 1240 Long Beach, CA 90802, Ph: 562-628-1526 Fax: 562-628-1536 

PACIFIC ENERGY

January 21, 2011

Office of the United States Trustee

Subject: Attestation of Regard Postpetition Taxes The debtor, Pacific Energy Alaska Operating, LLC., hereby submits this attestation regarding postpetition taxes.

All postpetition taxes for the debtor, which are not subject to dispute or reconciliation, are current. There are no material tax disputes or reconciliations.

Gerry Tywoni , Plan Representative

State of California County of Los Angeles

6 !&’1 T’JU)OIJ1(Jk

Subscribed and sworn to (or affirmed) before me on this 21st day of January. 2011 by , proved tome on the basis of satisfactory evidence to be the person(s) who appeared before me.

’7 1 6
My commission expires
GAIL ROPP coMM:oN15753sO Notary Public - California

3 ’4Y

LOS ANGELES COUNTY
My Comm. Expires July 16.2011

Pacific Energy Resources Ltd, 111 West Ocean Blvd., Suite 1240 Long Beach, CA 90802, Ph: 562-628-1526 Fax: 562-628-1536