UNITED STATES BANKRUPCY COURT DISTRICT OF DELAWAR

In re: San Pedro Bay Pioeline Comoanv Debtor

Case No. 09- 10790

Reporting Period: March 2009

MONTHLY OPERATING REPORT

. .
. . . .

. " - ,..-" -j __ _ .______._0 _ .J

. .

r: ~.=~=::_== ~_3 MOR-4 MOR-4 MOR-5 MOR-5

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 N/A N/A

I declare under penalty of perjury (28 U.S.C. Section 1746) that this reort and the attached documents
are tre and correct to the best of my knowledge and belief.

Signature of

Debtor

Date

Signature of Joint Debtor

Date

Signature

~/C; Date 1 I
(. -r11,J 0 J i \'\.( L5v- V't -) ~rO
Title of Authorized Individual

Printed Name of Authorized Individual

. Authori individun must be an offcer. diretor or shareholder if debtor is Q corpm~on; Q parer If debtor
is Q partership; a manager or member if debtor is a limiied liability company.

MOR
(Q.107)

In re: San Pcdm Bav Pincline Comoanv Debtor

Case No. J!
Reportng Penod: March 2009

SCHEDULE OF CASH RECEIPS AN DISBUREMENTS

The San Pedro Bay Plpalln. Company do.s not maIntaIn any cash accounts

=::~~~;'~:~~':"'~:J~~;:~~~~~~i~ifi~
TOTAL DlsaURSEl\EN

THE FOLLOWING SECTION MUST BE COMPLETED

US
TOTAL DISBURSEMS
LES: TRNSFERS TO DEBTOR IN POSSESSION ACCOUN

. ,FX
sO.oo
SO.OO SO.OO SO.OO

PLUS: ESTATE DISBURSMEN MAE BY OUTIDE SOURCES Le. frm esw iiunl.

TOTAL DISBUREMEN FOR CALCULTIG U.S. TRUSTEE UARTERLY FE

FORM MOR.I ((J.'f7)

In re: San Pedro Bav Pipeline Company Debtor

Case No.11
Reporting Period: March 2009

BANK RECONCILIATIONS
Continuation Sheet for MOR-

The San Pedro Bay Plpellna Company doas nol maIntaIn any cash accounts.

FORM MOR-I.

(1W1)

In re: San Pedro Bay Pipeline Company Debtor

Case No. 09-10790

Reporting Period: March 2009

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

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No profesional fees were paid post-petition.

FORM MOR-lb
(04107)

In re: San Pedro Bav Pipeline Company Debtor

Case No. 09-10790

Reporting Period: March 2009

STATEMENT OF OPERATIONS
(Income Stntement)

)~~~;~ -; )~," ~~t ~~. ; ;~:ryf~~ ,'-;;._..~'j:j:'1~t,~:~;~~!:~~~r3it\~f~~t~;~':r Zi~:5:tr~','~~.fi~ ~Hh~i:i:'~~~i:~; ;"'~'~:t;.t~)'1;~r?:~l:ttf.~~~t:.\ ~~; \.' y ~(' ~", '"~~

m~Ti.r;' ~ ~l;i,,, ~t '*1 ,~',: l::i/l- ~P;t~~..it~:,:,!t'~,~'.,~l.$';41l''':'l'') f;f\\ ~~f ~~~j~ " 't ':"".f'?,J:i-~ ~~ ~~ '-" : '~1-l , .~ " "- i;) Oil and as roduction revenue $ - s
RoyallY Dayments
I I - I - I

- I

Net Revenue

oi'.OOllNGJESES.
Repairs and maintence Salarescommissionsfees Tmnsoorttion expene
Utilities Insumnce

10,646 26.594
110 7.579 6,122 616
-

10.646 26.594
110

Employee benefit proim

Taxes - Drouction Inventoiy change
Rent and lease expene
Tmvel and enterinment

7.579 6.122 616

-

Supplies Geneml and administmtive

Depreiation. depletion and amortization

26 489 -

26.489
-

l:RlOO -

Net Profit (Loss) Before Other Income & Expenes

6.057 29.692 (118,061

6.057 29.692

(18.061)
-

Accretion of discounts and amorzation of deferred financinii cost Interest expense- non-cnsh - paid in kind
Stock comDensation expene

Inlerest and dividens

Realized gainl(loss) on dervatives

Interest expense- cash Other revenue

Generl explomtion expensc

206.3 I 9 -

IR~qINl
Professional Fee

Nct Profit (Loss) Before Reo.ion Item

Reorinntion Interest

206,319 88.258
. I I - i

88.258
- I - I

Net Profit (Loss)

I$

88,258 I S

88.258

Note: The income stntements above reflect the Company's activity for the entire month of March.

FORM MOR-2 (04/07)

In re: Snn Pedro Bnv PineHn" Comnanv Debtor

Case No. 09- i 0790

Reportng Penod: Murch 2009

BALACE SHEET

210.990

210,990

s
4.134

28.438

, ',' "::'.",f,lK-::;i;;k;m : ';. 1~gimE:, _ " ,~3~t;llm~0I'.l ': iirr.~,I.. I'. .;,. i..i II.'",.~~__~...____~__.~
s
5.172

,." _' ' ,,,:~~t:':;Q:~,\"~~~,~";i'i". l . ti~ , " -' ~ .!~:.S\?~-tiFjJ~~I)(rP ~

ents
91.214

~~~==...:=.:=.:=~-.=:=:$

96,386

S S S

2,37.574 2J71.574
2.467,960
1,000

Ius

8.314.252

(6,161.406 265,954

fOllJl MOR-) (Li.IU1)

In re: San Pedro Bav Pipeline Comoanv Debtor

Case No. 09-10790

Reporting Period: March 2009

BALANCE SHEET - continuation sheet

~ "''S'.'H'~''''' 't; -'ld ..l......~ r. ""'......t_. ",,,. ct'. ~,;o.t"""\,,,~,""~J"'" "'......M' '--W~~'~1" ..11. ~~ ."""~ ~~"" '" "'''4~''''':''''''''I1s,'~'h''t~b,,,./;,,.,fl;. r! "'I''''-~'I-'' r:"'~ -".." -""~~~ ;,,~~~~~::\~',');:~31~#~~~:T~~~~~N~;t~-~t.~;";~i~r:'~;~,~.:;;;.;;~~~;::;.~~;:(;:i~: ~~~;:;
Intercompany Receivable Derivative Assets Advances
Other Receivables

Total Other Curent Assets

.,

FORM MOR-J CONTO

(04107)

In re: San Pedro Bav Pipeline ComDanv Debtor

Case No. 09-10790

Reporing Pcnod: March 2009

STATUS OF POSTPETITION TAXS

'V.!~i. r ..,.,.,.3:'J....;'f'~"~-;.l! V~.~'~~l:.t'\.;.'~;l.i!il..~~\.,';~".,~':1.'..."~ ' . ~ "1~"', " . _J .,.~~. P.'I"'~';\=1'~ r; "'~. l ""," l~:~':f...*:~.~:.0~~.;~:~~;y.1r.~0;:(!. ;.t1';7:q,J;.:.;~,;~.L.!~.; :,''',.' 'J .;J~"~-.i; :. "i:"',,~ '..'/: ';",;~!..::I'~'.'Y~'~i'\'~

",". '~~~.'." ..'.' ",,,,,,.,.,,,,...~. m' '-"r,t1N"""';;4, ,-~:,( ':. "F" ";' _ ~g0"- 'ii1 " ~~", "':. .;- ":'. "i, "".-, :'l,.~!.;:"q (\.p~.""-I;trt-~i"tt--r~:" ~' ~ ."Z~l ,,'l-,'I.-, ._~.t :.'--t"~: r"':'~"",~
l'~~l ,. 1..'...,~ti: . ~"J'\' ;.li":' :~~,._,!",,~ . i 'l '~"A."l '''' ,.' . ',' ~..,.,", .(. ~~
Withholding

;',' ,'. , ::i ,..; '.f".... .'t., \ ',' .,':_~,,: ..'i~"""",.,;,'~ '.' I.1J,;, ;""i1-:: . ;.:02!J', .' ..~fuJ',,;

FICA-Ernnlove
FICA-Ernnlover

Unemnlovrenl
Income Totil FedemJ Tnxes
Wihholding Sales
I

Nol Applicable

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Excis
Unemplovrent Real Pronerv Pcrsonal Properl Total Sinic nod Lol
Total Tiiiies

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Not AppllcQblc

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SUMMARY OF UNPAID POSTPETlTlON DEBTS

i i,\ , ,.,., ,',' ' ~ ~ " ,. I ~.,';'lt~'' 'it " .. i"..,'" i'" '\ ", " ~, ~ t . ~ ~t ~ ". J ""." "l~';'~~'i;~im' ' ~~/~~' "," , , ,.,

Aecounts PnyabJe

Wal!cs Piiwble

Tnxes PawbJe

Rent/ns-Buildin"
Rent/ases-Eounment
Secured DeblAdequnle Protection Pa)'enis

Not Appllcablc

Profesional Fee Total PostDetltlon Debts

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FORM MOR-4 (04/07)

In re: San Pedro Bav Pipeline Company Debtor

Case No. 09-10790

Reportng Period: March 2009

ACCOUNTS RECEIVABLE RECONCILIATION AN AGING

Not Applicable

DEBTOR QUESTIONNAIRE
rv ..._~~i

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I. Have any assets bee sold or tmnsfcred outside the normal course of business
this reporting period? If

No
No

yes, provide an explanation berow.

2. Have Bny 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 ta return been timely filed? Ifno, provide an explanation

N/A
Yes

below.

4. Are worker compensation, geneml liabilty and other necessary numnce

covemges in effect? If no, provide an explanation below.

S. Has any bank account been opened during the reorting period? If yes, provide documentation identifying ~e opened account(s). If an investment account has been opened
provide the reuired documentation pursuant to the Delaware Local Rule 4001-3.

No

FORlI MOR-S
(04107)