UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE

In re: Gotland Oil. Inc. Debtor

Case No. 09-10792 Reporting Period: _August 2010

MONTHLY OPERATING REPORT

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

MOR-1 MOR-la MOR-lb

I I I

MOR-2 MOR-3 MOR-4

N/A N/A MOR-4 MOR-4 MOR-S 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

I declare under penalty 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

86ignature of Authorized Individual*

Jennifer Kuritz Printed Name of Authorized Individual

;:;

September 28,2010 Date

Treasurer Title of Authorized Individual

Authorized individual must be an officer, director orshareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limiled liability company.

MOR (O4fl)

In re Gotland Oil. Inc. Debtor

Case No. 09-10792 RepozlingPeriod Aueust20I0

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

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Gotland Oil. Inc. does not maintain any cash accounts. TOTAL RECEIPTS

IN-

II

TAW

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TOTAL DISBURSEMENTS

THE FOLLOWING SECTION MUST BE COMPLETED

FoRmmom
(O47)

In re: Gotland Oil, Inc. Debtor BANK RECONCILIATIONS Conlinuation Sheet for MOR-1

Case No. 09-10792 Reporting Perio& August 2010_

BALANCE PER BOOKS BANK BALANCE (+) DEPOSITS IN TRANSIT (ATTACH List) . (-) OUTSTANDING CHECKS (ATTACH LIS1) ADJUSTED BANK BALANCE * Adjusted bank balance must equal balance per books

Gotland Oil, Inc. does not rnatntaln any cash accounts.

FORM MOR.1 (OAO)

In re: Gotland Oil, Inc. Debtor SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID EI:::. 1FZ5T L

Case No. 09-10792 Reporting Period: August 2010

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No profesional fees were paid post-petition.

FORM MOR.lb (04/07)

In re: Gotland Oil, Inc. Debtor

Case No. 09-10792 Reporting Period: August 2010 STATEMENT OF OPERATIONS

(Income Statement)

Oil and gas production revenue Royalty payments Net Revenue

Wu

PAN

Eli.
-

WIN,
25 -

Repairs and maintenance ataries/commissions/fees Transportation expense Utilities Insurance Employee benefit programs Taxes - production Inventory change Rent and lease expense Travel and entertainment Supplies Advertising Auto and truck Baddebt Contributions Insider compensa]ion Management fees/bonuses Office expenses Pensioii& profit sharing plans Taxes - payroll Taxes . real estate Taxes - other Genera] and administrative Depreciation, depletion and amortization Net Profit (Loss) Before Other Income & Expenses 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 Genera] exploration expense Net Profit (Loss) Before Reorganization Items Professional Fees Reorganization Interest Net Profit (Loss)

(25) (25)

FORM MOR-2 (04/07)

In eec Gotland Oil, Inc. Debtor

Case No. 09.10792 Renoiling Period: August 2010

BALANCE SHEET

Unrestricted Cash and Equivalents IRestricted Cash and Cash Equivalents lAccounts Receivable (Net) Inventories Prepaid Expenses Professional Retainers IOther Caffent Assets (5unMached Schedule) TOTAL CURRENT ASSETS Proved Properties Including Lease and Well Equipment Asset Retirement Costs In Process Development Unproved Properties 0111cc Equipment and Software Vehicles Other Equipment and Leasehold Improvements Pipeline Equipment Less Accumulated Depreciation TOTAL PROPERTY & EQUIPMENT Oilier Assets (See Attached Schedule)

400 400

_____________________ r
-

WA AV

Accounts Payable and Accrued Liabilities Taxes Payable Wages Payable Notes Payable. Debtor-in-possession financing Rent uilding/Equipment Secured Debt! Adequate Protection Payments Professional Fees Intercompany Payabtes Asset Relirernent Obligations Accrued Interest Other Liabilities TOTAL POSTPETITION LIABILITIES Secured Debt IPriorit y Debt IUnsecured Debt IlntercomPanyPayabtes ITOTAL PRE PETITION LIABILITIES TOTAL LIABILITIES Share Capital Contributed Surplus Warrants Additional Paid In Capital Accumulated Oilier Comprehensive Loss Partners Capital Account Ounces Equity Account Retained Earnings - Pee-Petition Retained Earrings. Postpetition Adjustment to owner Equity (a(tach schedule) Poalpeirion Contributions (Distributions (Draws) (attach schedule) NET SHAREHOLDERS EQUITY

25
-

25
-

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57v.

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25
-

400 (25)
-

375

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In re: Gotland Oil, Inc. Debtor

Case No. 09-10792 Reporting Period: August 2010

BALANCE SHEET - continuation sheet

AN

10 1
$

Intercompany Receivables Derivative Assets Advances Other Receivables Total Other Current Assets

400
-

-400

FORM MOR.3

CoNro
(04107)

In re: Gotland Oil, Inc. Debtor STATUS OF POSTPETITION TAXES

Case No. 09 - 10792 Reporting Period: August2010

\Vilhhulding I:KA_II11pIoyee FtcA-Employer Unemployment Income Told Federal Taxes

I
Not Applicable

Slaein Locli
[Withholding Sales Excise Unemployment Real Property Personal Property Total State and Local Total Taxes

I I I I

- - .

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..

..

I
Not Applicable

SUMMARY OF UNPAID POSTPETITION DEBTS

Accounts Payable Wages Payable Taxes Payable RenllLeases-Building Rent/Leases-Equipment Secured Debt/Adequate Protection Payments Professional Fees Total Postpetition Debts

I
Not Applicable

EO5.M MOR-4
(04/07)

In re: Gotland Oil, Inc. Debtor

Case No. 09-10792 Reporting Period: August2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

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

I
Not Applicable

0-3o days old 31 -60 days old 61- 90 days old 91+ days old Total Accounts Receivable Accounts Receivable (Net)

I
Not Applicable

I
DEBTOR QUESTIONNAIRE

1. 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 postpelition 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. Note: We carry only fiduciary liability insurance. Company has only one employee. Workers comp not reqiired. 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 No Yes Yes

No

FORM MOR-5 (04(07)

IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE

In re: PACIFIC ENERGY RESOURCES LTD., et al., Debtors.

Chapter 11 Case No. 09-10785 (KJC) (Jointly Administered)

AFFIDAVIT OF SERVICE Linda M. Ellis, being duly sworn according to law, deposes and says that she is employed by the law firm of Pachuiski Stang Ziehl & Jones LLP, attorneys for the Debtors in the above-captioned action, and that on the 29th day of September, 2010 she caused a copy of the following document(s) to be served upon the parties on the attached service lists in the manner indicated: August Operating Report for Gotland Oil, Inc.

~i4 Ellis nha IM.

Sworn to and Sub)cjibed,before me this 29t dafSeptImb 2010

Ntry Vublic Commission Exp.:

DEBRA L. YOUNG NOTARY PUBLiC STATE OF DELAWA My camm expireS July

____________

The Debtors in these cases, along with the last four digits of each of the Debtors federal tax identification number, are: Pacific Energy Resources Ltd. (3442); Petrocal Acquisition Corp. (6249); Pacific Energy Alaska Holdings, LLC (tax I.D. # not available); Cameros Acquisition Corp. (5866); Pacific Energy Alaska Operating LLC (7021); Cameros Energy, Inc. (9487); and Gotland Oil, Inc. (5463). The mailing address for all of the Debtors is Ill W. Ocean Boulevard, Suite 1240, Long Beach, CA 90802.

Pacific Energy Resources Ltd. Core Service List Case No. 09-10785 Document No. 146442 05 - Hand Delivery 05 - First Class Mail

Hand Delivery (United States Attorney) Ellen W. Slights, Esq. United States Attorneys Office District of Delaware 1007 N. Orange Street, Suite 700 Wilmington, DE 19801

Counsel for Debtors) Laura Davis Jones, Esquire James E. ONeill, Esquire Kathleen P. Makowski, Esquire Pachulski Stang Ziehl & Jones LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, DE 19899-8705 Interoffice Pouch to Los Angeles Counsel for Debtors) Robert M. Saunders, Esquire Ira D. Kharasch, Esquire Scotta E. McFarland, Esquire Pachulski Stang Ziehl & Jones LLP 10100 Santa Monica Blvd., I 1th Floor Los Angeles, CA 90067 Hand Delivery (United States Trustee) Joseph McMahon, Esquire Office of the United States Trustee J. Caleb Boggs Federal Building 844 North King Street, Suite 2207 Lockbox 35 Wilmington, DE 19801 Hand Delivery (Copy Service) Parcels, Inc. Vito I. DiMaio 230 N. Market Street Wilmington, DE 19801

Hand Delivery (Counsel to Official Committee of Unsecured Creditors) David B. Stratton, Esquire James C. Carignan, Esquire Pepper Hamilton LLP Hercules Plaza, Suite 1500 1313 Market Street Wilmington, DE 19899 Hand Delivery (Counsel to DIP Administrative Agent) Don A. Beskrone, Esquire Ashby & Geddes, P.A. 500 Delaware Avenue Wilmington, DE 19801 First Class Mail (Counsel to Goldman Sachs, J.Aron & Company; DIP Administrative Agent) Jeffrey Sabin, Esquire Steven Wilamowsky, Esquire Scott K. Seamon, Esquire Bingham McCutchen LLP 399 Park Avenue New York, NY 10022 First Class Mail (Counsel to PEA Collateral Agent, et al.) Seth E. Jacobson, Esquire Chris L. Dickerson, Esquire Skadden, Arps, Slate, Meagher & Flom LLP 333 West Wacker Drive, Suite 2100 Chicago, IL 60606

First Class Mail (Counsel to Official Committee of Unsecured Creditors) Francis J. Lawall, Esquire Pepper Hamilton LLP 3000 Two Logan Square Eighteenth & Arch Streets Philadelphia, PA 19103 First Class Mail (counsel to Official Committee of Unsecured Creditors) Filiberto Agusti, Esquire Steven Reed, Esquire Joshua Taylor, Esquire Steptoe & Johnson LLP 1330 Connecticut Avenue NW Washington, DC 20036 First Class Mail (counsel to Official Committee of Unsecured Creditors) Robbin Itkin, Esquire Katherine Piper, Esquire Kelly Frazier, Esquire Steptoe & Johnson LLP 2121 Avenue of the Stars, 28th Floor Los Angeles, CA 90067