UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: Cameros Energy. Inc.

Debtor MONTHLY OPERATING REPORT

Case No. 09-10791 Reporting Period: August2010_

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 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

MOR-! MOR-la MOR-lb

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

10
11

MOR-4 MOR-4 MOR-5 MOR-5

I N/A N/A I I I

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

Signature of AuthAzed Individual*

September 28, 2010 Date

Jennifer Kuritz Printed Name of Authorized Individual

Treasurer Title of Authorized Individual

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

MOR (O4O)

lure: Cameron Energy. Inc. Debtor

Case No. 09-10791 Reporting Period: August 2010

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

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Cameros Energy, Inc. does not have any active cash operating accounts.

TOTAL RECEIFfS

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m uT OTAL DISBURSEJVjrN7S

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THE FOLLOWING SECTION MUST BE COMPLETED

A(!ff1ffA U tr $000 $0.00 $0.00 $0.00

TOTALIMSBURSEMENTS LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (Le. fr om escrow accounts)

rTOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

FORM MOB-I (SORt)

In Fe: Cameros Enerv. Inc. Debtor BANK RECONCILIATIONS Continuation Sheet for MOR-I

Case No. 09-10791 Reporting Period: August20 I0_

IBALANCE PER BOOKS

BANK BALANCE

(+) DEPOSITS IN TRANSIT (ATTACH LIST)

(-) OUTSTANDING CHECKS (ATTACH LIST) ADJUSTED BANK BALANCE *Adjusted bani balance must equal balance per books

Cameros Energy, Inc. does not have any active cash operating accounts.

rOOSt MOIS-la (0007)

In re: Cameros Energy, Inc. Debtor

Case No. 09-10791 Reporting Period: August 2010

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

WPAQ&I

profesional fees were paid post-petition.

FORM MOR.lb (04/07)

In re: Cameros Energy, Inc. Debtor

Case No. 09-10791 Reporting Period: August 2010 STATEMENT OF OPERATIONS

(Income Statement)

Oil and gas production revenue Royalty payments Net Revenue

FORM MOR-2 (04/01)

In re: Cameros Energy. Inc. Debtor

Case No. 09.10791 Reporting Period: August 2010_

BALANCE SHEET

100
S
-

Unrestricted Cash and Equivalents Restricted Cash and Cash Equivalents Accounts Receivable (Net) Inventories Prepaid Expenses Professional Retainers Other Current Assets (See Attached Schedule) TOTAL CURRENT ASSETS

PO1A

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S

13,936,545 13,936,545
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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 & EQUIPMENT 15 Other Assets (See Attached Schedule)

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[Accounts Payable said Accrued Liabilities Taxes Payable Wages Payable Notes Payable - Debtor-in-possession financing Rent I Leases - Building/Equipment Secured Debt I Adequate Protection Payments Professional Fees Intercompany Payabtes Asset Retirement Obtigalions Accrued Interest Other Liabilities TOTAL POSTPETITION LIABILITIES Secured Debt Priority Debt Unsecured Debt Intercompany Payables TOTAL PRE-PETITION LIABILITIES

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rTOTAL LIABILITIES
O)32e1

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$

1,840,096 1,840,096 1,840,096

-

hare Capital oninhmuled Surplus Warrants Additional Paid In Capital Arewnuluteri Other Comprehensive Loss Partners! Capital Account Owners Equity Account Retained Earnings - Pre-Petition Retained Earnings - Postpetilion Adjustment to owner Equity (attach schedule) ersipeition Contributions (Distributions (Draws) (attach schedule) NET SHAREHOLDERS EQUITY

12,907,025 (810,576)
-

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C

12,096,449 "a e 1?936i4

EQth?S

FORM W,OR-3 (05W)

In re: Cameros Enemy. Inc. Debtor

Case No. 09-10791

Reporling Period:_August 2010

BALANCE SHEET continuation sheet

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ta

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Intercompany Receivables Derivative Assets Advances Other Receivables Total Other Current Assets

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R ic

13,936,545
-

$ I

13,936,545
-

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Performance Bonds Investments-Abandonment Total Other Assets

FORM MOR-3 coNro (O4J7)

In re: Cameros Energy, Inc.

Debtor

Case No. 09-10791 Reporting Period: August 2010

STATUS OF POSTPETITION TAXES

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

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Not Applicable

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Withholding Sales Excise Unemployment Real Property Personal Property Total Slate and Local Total Taxes

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Not Applicable

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SUMMARY OF UNPAiD POSTPETITION DEBTS

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

I
Not Applicable

FORSI MOR4 (0-1101)

In re: Cameros Energy, Inc. Debtor

Case No. 09-10791 Reporting Period: August 2010

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

I
Not Applicable

Total Accounts Receivable at the end of the reporting period

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 posipetition tax returns been timely filed? If no, provide an explanation below. 4. Arc 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 requred. 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:

)
)

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

PACIFIC ENERGY RESOURCES LTD., et al., ) ) Debtors. )

AFFIDAVIT OF SERVICE Linda M. Ellis, being duly sworn according to law, deposes and says that she is employed by the law firm of Pachulski Stang Ziehi & Jones LLP, attorneys for the Debtors in the above-captioned action, and that on the 291h 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 Carneros Energy, Inc.

44
Sworn to and me this 291h bed before (ptember 2010 Notary Public Commission Exp.:

inda M. Ellis

I V.-\I

NOTARY PUBLIC STATE OF DELAWARE My commsion expires July 18,2011

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 Pachuiski 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., 11 t 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 1. 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