UNITED STATES BANKUPCY COURT

DISTRICT OF DELAWARE

In re: Pacific Energy Alaska Holdings, Inc. Debtor

Case No. 09- i 0787

Reporting Period: April 2009

MONTHLY OPERATING REPORT

REQUID))OCUS
Schedule of Cash ReceiPts and Disbursements Bank Reconcilation (or copies of debtor's bank reconciliations) Schedule of Professional Fees Paid Copies of bank statements
Cash disbursements journals

Document

Explanation Affdavitlpplement

FormNo.
MOR-I MOR-Ia MOR-Ib

Attched ./ ./ ./
N/A N/A

Attchd Attched
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.;r..',.,' .'

7".,

Statement of Operations
Balance Sheet

Status of Postpetition Taxes Cooies of IRS Form 6 I 23 or payment receioi

Copies of tax returs fied durng reporting period

MOR-2 MOR-3 MOR-4

./ ./ ./
N/A N/A

Summar of Unpaid Postpetition Debts Listing of aged accounts oayable Accounts Receivable Reconcilation and Aging Debtor Questionnaire

MOR-4 MOR-4 MOR-S MOR-S

./ ./ ./
,

I declare under penally of perjur (28 U.S.C. Section 1746) that this report and the attached documents are true and correct 10 the best of my knowledge and belief.

Signature of Debtor

Dale

Date

~f /01Title of Authorized Individual

"Authorized individual must be an offcer, dirctor or sharholder if debtor is a corporation; a parer if debtor

tltl-Cl)

is n parel-ip; li manager or member if debtor is li limited liabilty company.

MOR (0l107)

In re: Pacific Encflv Alaska Holdin.s. Inc. Debtor

Case No. 09- I 0787

Reporting Period: Anri) 2009

SCHEDULE OF CASH RECEIPS AND DISBURSEMENTS

CAH BEGING ,?F'~fONT '

OPER PAYROU... TAX 01

I

I I II
II
I I

BNA,CCOUNS

ACIAL PROJ
II

cuMONT

CtTiFILrNGTODA TE

ACIAL PRJEc:

RICEIP'
Pacific Enorgy Alaska HoldIngs, Inc. does nol maintain any cash accounts.
TOTAL RICEII'S
,,:...-', "-,;';.:.-.,:,'::';';',;.,.(,',:,,;,,, I

II

;.,'

.-

"

DISBUR.

, '::''':' :': "':,-'. ',:,':,:(':.-,._','_,.,d'/:. :'.: ':"~'''.:::u,:,:;:",:.:. :':"\:,i":,-.,"\,:-; ,::,' ~:':' ',' ",:d,,"~:d':dd:d", :',:,,:

L.. ~.""~

1.......11.1 ~ii. . ......1

II

i i II II I
ii

II

ii

THE FOLLOWING SECTION MUST DE COMPLETED

DISBURSEM FOR CALCUTmGU$..TRUSTEOU:n:iiLvFE:

roOM aiMONTl AcrAL COL~

SO.OO

TOTAL DISBURSEMENTS
tESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNT
PLUS: eSTATE DISBURSEMENS MADe BY OUTSIDe SOURCE Ii.. fim .=w liunL,i

50.00 50.00

TOTAL D1SBURSEl1ENS FOR CALCUTING U.S. TRUSTEE QUARTERLY FEES

50.00

RlI(11 Mon.i (f)K)

In re: Pacific Enerl! Aln.~ka Holdings. Inc.

Cae

No. 09-10787

Debtor

Reportg Period: Anril 2009

BANK RECONCILTIONS
ContiuatioD Sheet for MOR-!

:lfll:
BALACE PER BOOKS
BANK BALANCE

Tax
1#
i I

Other
1#
I I

11#;;"oPjiig.':
I

1#

(+) DEPOSIT IN TRANSIT (A'IACH LIST (-) OUTSfANDlNG CHECKS (A'IACH LIST

Pacific Energy Alaska Holdings, Ine. does nol maIntaIn any cash accounts.

ADJUSTD BANK BALNCE.

. Adjusted bank balance mn51 equal
balance per books

,
~

FOHM MOR.I. 10.107)

In re: Pacific Energy Alaska Holdings. Inc. Debtor

Case No. 09-10787

Reporting Period: Aoril 2009

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

C'.'dd' "C',
L
d.:' ','Gheck'

Payee
'tl\porve'd
Nmber

i''." ik'-,.. .c:,::

AmbuhtPaitl?;X','

;,d~~~nf .' ". ,.....,'..

,Payor
. Date

Fees
Exohses

Fees

Year-Tc~t , ; Expenses

No profeslonal fees were paid post-petiion.

FORM MOR-Ib (04/07)

In re: Pacific Enemv Alaska Holdings. Inc. Debtor

Case No. 09-10787

Reporting Period: April 2009

STATEMENT OF OPERATIONS
(Income Statement)

Cumulative
FiI 'to Date

- S

Reoairs and maintenance

Salareslcommissionslf ees

.'
~

Transoonation expense Utilities Insurance

Emolovee benefit orogram

Taxes - oroduction Inyentorv chan~e Rent and lease expense Trnyel and entertnment Supplies Advertising
Auto and trck

Bad debt Contrbutions Insider comoensatin

Management feeslonuses
Offce expenses

Pension& profit sharng plans Taxes - payroll Taxes - real estate

Taxes - other

General and administrative

Depreciation. deoletion and amortization

Net Profit (Loss) Before Other Income & EXDenses

OTHR INCOME AN

(EXPENSES) Accretion of discounts and amortzation of deferred financing costs

Interest eXDense- non-cash - Daid in kind

Stock comDensation eXDense

Interest and dividends

Realized gainl(loss) on derivatiyes Interest eXDense- cash

Oler revenue
General eXDloration exoense

Income from eouitv investment

ImDairment exoense

111,000
-

524.000
i

Net Profit (Loss) Before Reorganization Items

. . REORGANITION ITS

111,000
-

S24.000
-

Professional Fees Reorl!3nization Interest

U.S. Trustee Quarerly Fee Interest Earned on Accumulated Cash from Chapter II
Gain (Loss) from Sale of EQuiDment

Other Reomanization Expenses (attach schedule) Income taxes Net Profit (Loss)

111.000

S24,000

Noie: The income statements above reflect le Company's activity for the entire month of March.

FORM MOR-2
(Q.101)

In re: Pacilic Boer"" Aln,l" Holdin.. Inc.

Debtor

Ca.e No, 09-10787

Reponing Period: Andl2009

BALANCE SHEET
BOOK v.uE ~T EN OF

CU ASSETS
Accounts Receivnble (Nell Inventories Prepaid Exnenscs
Professional Retaners
TOTAL

ASSETS' "
,',

, "

CU REORTIG MO!l'T
"

Unrestrcted Ca.h nod Ecuivalents

Restrcted C:h and Cash Eouivalents

S
,

Oiher Curnt Asscts (See Atllched Schedule) CURREN ASSETS

PROPERTY

AND EOUIME "

,.",'.'..,

'"

i',,.',/

',,'

50.355.273 50.355.273
.,'

Proved Proomies lncludine Lee and Well EQuipment

Asset Relrement Costs

In Process Develooment
U noroved Prooeres

Offce F.Luinment and Sofiwiu Vehicles Other Ecuipmeni and Leasehold Improvements
Pineline Eouinment

Les. Accumulnicd Deorcciaoo TOTAL PROPERTY & EQUIPMEN

'OTBiASSET

,,~ .\",';' ~"

"d.""

$
i "",,,. '",' ",',

",.'",
,

12.109.816

62.465.089

",;""
Waees Puvnble

..

.i'

,. ,

'"

',"

.".,.'.

",'

"'. ,.",'. "

ii, iYApJ,E:, ~~ORTIGMONT

$

, T END

OF

Accounts Pavable nod Accrued Luibiliie. Ta.te. Pavnble

Noics Pavable - Debtor-in-possession linancine

Rent I Leases. BuildinJ!uipment

Secured Debt I Adeouate Protection Pavments
Professional Fee.

laicreomnnov Puvable.
Assei Retirement Obliimons

Accrued Interest Other abi1es

.
,.. ~.,. ,

TOTAL POSTPEfTION llABlllTIES

U'AlIU SUmcr,To'COMPROMIE'(PreiPelitlc)' .'.

Secured Debt

""'i",""""'"

,"
$

"

Prorltv Debt
Unsecured Debt Iniereompnov Pavables

TOTAL PRE-PEfTION llABlllTJES

, "'r

".,'.""

',',':,:,'.,.'".

S
1s

-I

s
62,tI8.089

(17,000)
52-.000

i~R!i MOR.) IGl.i1

In re: Pacific Energy Alaska Holdings. Inc. Debtor

Case No. 09.10787

Reporting Period: Am;1 2009

BALANCE SHEET. continuation sheet

BOOKVALui AT

END OF

cu REPORTING MONT
Intercom any Rcceiyables

SO.35S,273

Derivative Assets Advances

Other Receivables

Total Other Current Assets

$ $

SQ,3SS.273

Oth Asseis
Inyestrents-PEAO Investrents-crPL Total Other Assets
12.109,816 12,109,816

FORM MOR-3 CONT ((MI0)

In re: Pacific Energy Alaska Holdin!!s. Inc.

Case No. 09- 10787

Reportng Period: April 200~

Debtor

STA TUS OF POSTPETITION TAXES

., "B~:~iig
.

. '. .Anunt
Witicli or

Liabilty

,Accred
I I

Amount Paid
I

Date . Paid
i

, Check No. ,
or

Emling Tax

EFT
I

Federa
Withholding FICA-Emnlovee FICA-Emnlover Unemolovment Income

Liabilty

Not Applicable

Total Feder Taxes

state lUdLoc'
Withholding Sales
EKcise

".,..

d i''', ,'"

I ."",.... I

..
~~

UnemnlOymeni

Not Applicable

Real Prooert Personal Propert

Total State and Local
I I I I I i I I I I

Total Ta~es

SUMARY OF UNAID POSTPETITION DEBTS

Number of d , ...

Curent

'.0-30

Accounts Payable

-i

31-60
i

.6'0
Days Past Due

1,90

0ver9
I

Tota

Waires Pavable
TaKes Pavable

Rent/Leases-Buidinir Rent/Leases-Eauipment Secured Debt/Adequate Protection Paymcnts Professional Fces

Not Applicable

-i
I

I I

I I

I I

I I

Total PostDetito Debts

FORM MOR-4
(04107)

In re: Pacific Energy Alaska Holdinus. Inc. Debtor

Case No. 09- I 0787

Reporting Period: April 2(

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

AccouutS, Receivable

Reconcilation

Total Accounts Receivable at the beginning of the reporting period

+ Amounts biled durin the eriod
. Amounts collected durin the eriod

Not Applicable

Total Accounts Receivable at the end of the reporting period

A ccouutsReceiva bIA'. , e, ,l2ii:g
o . 30 days old
"

"

A mOunt
I

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

Not Applicable

DEBTOR QUESTIONNAIRE
M:a( ))~cipltdcii Dioltl

.i ,'..'

,',

,.",

:.

I. Have any assets been sold or transfcrrcd outside the normal coure of business
uiis reponing period? If yes, proYide an explanation below.

.Y!is!NQ No

2. Haye any funds been disbursed from any account other than a debior in possession
account this reportng period? If yes, proYide an explanation below.

No

3. Have all postpetition tax returns been timely fied? If no, provide an explanation below.

N/A
Yes

4. Are workers compensation, general liabilty and other necessar insurance

coverages in effect? If no, proYide an explanation below.

S. Has any bank account been opened during the reporting period? If yes, provide
documentation identifying the opened account(s). If an inyestment account has been opened

No

provide Uie required documentation pursuant to the Delawar Local Rule 4001-3.

FORM MOR-5 (04/07)