You are on page 1of 9

UNITED STATES BANKRUPTCY COURT DISTRICT Or DELAWARE

In re: Pacific Energy Alaska Holdings, Inc. Debtor MONTHLY OPERATING REPORT opto A((a{hid
1’

Case No. 09-10787 Reporting Period: December 2010

..- . . ’ill’OUl RED I)0( tIM!’ NI S 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 ofPostpetition 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

..: Forni No MOR-! MOR-la MOR-lb

-

Atacea N/A
N/A N/A

Y. 4f1}
MOR-2 MOR-3 MOR-4

N/A N/A
-/ V N/A

N/A MOR-4 MOR-4 MOR-5 MOR-5 V
V

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

Attached 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 peijury (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 Joint Debtor
r

Date

Signatti of Aii(ho

’1 "i v-" t

d Individual*

Date

G.ip,i T’dWOnlUIS

Printed Name of Authorized Individual

Plan Representa tive Title of Authorized Individual

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member ifdeblor is a limited liability company.

MOR (04)01)

In re: Pacific Energy Alaska Holdings. Inc. Deblos

Case No. 09-10787 Recoiling Period:_December 2010

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

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

I
DISURSEMSTS

?

S?

’,

nZ

-

TOTAL DISBSEME5

7.

THE FOLLOWING SECTION MUST 8E COMPLETED

TOTAL DISBURSEMENTS LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES
LO. from esgoworcounts)

$0.00 $0.00 $0.00 $0.00

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

FORM MOE-I

In re: Pacific Energy Alaska Holdings. Inc. Debtor BANK RECONCILIATIONS
Continuation Sheet for MOR-1

Case No. 09-10787 Reporting Period: December2010

.4:

ing £

r

BANK BALANCE (+) DEPOSITS IN TRANSIT (A1TACLI LIST) (-) OUTSTANDING CHECKS (ATTACH LIST) ADJUSTED BANK BALANCE * Adjusted bunk baIaec most equal balance per books Pacific Energy Alaska Holdings, Inc. does not maintain any cash accounts.

FORM MOR. to (04/07)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09-10787 Reportiflg Period: December2010 SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
i4

j Pee:

i
bi
Dt

i&j

iA

bd;

No profesional fees were paid post-petition.

FORM MOR1b (04/07)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09-10787 Reporting Period: December 2010_
(Income Statement)

STATEMENT OF OPERATIONS

EVN1JS

k

, - $ -- $ (1,920,000) (1,920,000) 9,665.8 16 (l1,585,816

I

Oil and gas production revenue Royalty payments Net Revenue

OPERATQ

Repairs and maintenance alaries/coinmissions/fees Transportation expense Utilities Insurance Employee benefit programs Taxes production Inventory change Rent and lease expense Travel and entertainment Supplies Advertising Auto and truck Bad debt Contributions Insider compensation Management fees/bonuses Office expenses Pension& profit sharing plans Taxes payroll axes - real estate axes - other General and administrative Depreciation, depletion and amortization Net Profit (Loss) Before Other lucerne Expenses

-

-

OHER1NCOMEAX1(NSS)

&

-

.-

’z

Accretion of discounts and amortization 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 investment Gain on Alaska sale Impairment expense Net Profit (Loss) Before Reorganization Items 1TE11S Professional Fees Loss on Alaska abandonment NetProfi( (Loss)

-

-

7

$

l

Note: The Cumulative Filing to Date income statement above reflect the Company’s activity for the entire month of March.

FORM MOR-2
(04/07)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09-10787 Reporting Period* December2010

BALANCE SHEET

:
CUllRFASSETS
Unrestricted Cash and Equivalents Restricted Cash and Casts Equivalents Accounts Receivable (Net)

:::...

S

Inventories
Prepaid Expenses Professional Retainers Other Current Assets (Sec Attached Schedule) TOTAL CURRENT ASSETS OPERTYASDEQifPMRN t Proved Properties Including Lease and Well Equipment Asset Retirement Costs In Process Development Unproved Properties Office Equipment and Software Vehicles Other Equipment and Leasehold Improvements Pipeline Equipment Less Accumulated Depreciation TOTAL PROPERTY Sc E IOtherAsscls(SeeAttacbertSchednle) LTOTALA$PTS .,;

S


S

_*-

50,355, 50,355,273

-

is

-50.273

IKf0NiTQF

i

viplimagiv, If AsInnl tinn LI ’.1111 II II’S Mfl 511 Accounts Payable and Accrued Liabilities Taxes Payable Wages Payablo Notes Payable - Debtor-in-possession financing Rent/Leases - BuildingfEquipment Secured Debt /Adequate Protection Payments P-ofessional Fees Intercompany Payables
Asset Retirement Obligations Accrued Interest Other Liabilities TOTAL POSTPETITION LIABILITIES LA’IY1ESSIJft3)ICFTO CO)OMI’S(Prc-0etatsoh) Secured Debt Priority Debt Unsecured Debt TOTAL PRE-PETITIONLIABILITIES ,

w1m

JiAbil nIsAiO’wleRQuITy
" I

..

uRRitNTjPIQR1I, %1O’l"TJI
1

S

-

S

[’mi.LIABILITIES
Share Capital

S

$ 62,118,089

Contributed Surplus
Warrants Additional Paid In Capital Accumulated Other Comprehensive Loss ailners’ Capital Account Owner’s Equity Account Retained Earnings - Pie-Petition Retained Earnings - Postpesition 4justment to owner Equity (attach schedule) ostpeition Contributions (Distributions(Deaws) (attach schedule) NET SHAREHOLDERS’ EQUITY LTAID

(177,000) (11.585.816)

S 50,355,273 50555,273

OVg1S EUIT

-

FORM MM-3 (0507)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09-10787 Reporting Period: December 2010

BALANCE SHEET - continuation sheet

: !OLcrCurre’ntAscls Intercompany Receivables Derivative Assets Advances Other Receivables Total Other Current Assets 3ther Assets Inveslments-PEAO Investments-CIPL Total Other Assets

8

50,355,273
-

$

50,355,273
-

,.

I

$ $ -

FORM MOR.3 c0NrD (alA!?)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09 - 10787 Reporting Period: December 2010

STATUS OF POSTPETITION TAXES
-

.

-

galng
tax

I

Amolln W,thhcl4,or
Accjqc
l

moiiifl
ard
r

I ,abplity

lMte
LuJ

(lfec
or Fl I I iabtliy

Pederal

Withholding FICA-Employee FICA-Employer Unemployment Income Total Federal Taxes and Local Withholding Sales Excise Unemployment Real Property Personal Properly Total State and Local Total Taxes

?tot Applicable

-

I

I

I I

I I

I I

Not Applicable

SUMMARY OF UNPAID POSTPETITION DEBTS

...................:___Accounts Payable Wages Payable Taxes Payable Rent/Leases-Building Rent/Leases-Equipment equate Protection Payments Secured Deb Professional Fees Total Postpelition Debts

.. .. .
-Current.

. ... .

!IU1lbCI

’t:!C .

:.

.Ovet.90.......

.:

Not Applicable

FORM MOR-4
(04(07)

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09-10787 Reporting Period: December 2010

ACCOUNTS RECEWABLE RECONCILIATION AND AGING :AcŁountsRecibic:RecoiiItatiniiT

.’:,:

AniOuiit-.

Total Accounts Receivable at the beginning of the reporting period + Amounts billed during the period - Amounts collected during the period Total Accounts Receivable at the end of the reporting period Acceunts Recejyable Aging 0-3o days old 31 - 60 days old 61- 90 days old 91+ days old Total Accounts Receivable Accounts Receivable (Net)

Not Applicable

Aiouit

I
Not Applicable

I
DEBTOR QUESTIONNAIRE

cc up!C tea Cach.flxdrith. .’::: L 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 finds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below. 3. Have all posipetition Lax returns been timely filed? If no, provide an explanation below.
Must be
..:. .:

No No Yes No

4. Are workers compensation, general liability and other accessary 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.

No

FORM MOR.5
(0-1/07)