UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

Case No. 09- I0791

In re: Cameros Energy. Inc.

Debtor

Reporting Period: October 2009

MONTHLY OPERATING REPORT

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MOR-4
MOR-5
MOR-5

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I declare under penalty of perjury (28 V.S.C. Section 1746) that this report and the attached documents
are tiue and coneet to the best of my knowledge and belief.

Signature of Debtor

Date

Signatur of Joint Debtor

Date

December 2, 2009

Date

Wiliam F. Lvng
Printed Name of Authorized Individual

Group Controller

Title of Authorize Individual

* Authorized individual must be an offcer, director or shareholder if debtor is a corpration; a partner if debtor
is a parership; a munager or member jf debtor is a limited liabilty company.

MOR

(0410)

euse No. 09- 10791

In re: Cameros Energv. Inc.

Debtor

Reooning Period: October 2009

SCHEDULE OF CASH RECEIPS AND DISBURSEMENTS

TOTAL DISBURSEMENTS

1~~~~~g~"jr';~r1~;I~''Tk~~*''i~~~r~4;~-l~~~1i
THE FOLLOWING SECTrON MUST BE COMPLETED

;j~~:l~~i~:~gilKf~i~t:4O~fu'Ji~~;~'fWWj~':ci_4'Mfu:rcriil:ebtfjAA'9?\f!ir~iYM\"\t;:::.;.;:d:':::i::'~:i'~1&;;::~;L
TOTAl. DISBURSEMENTS
LESS: TRNSFERS TO DEBTOR IN POSSESSION ACCOUNTS
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. (mmescrow 'CC'QUllls)

TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE OUARTERLY FEES

50.00
SO.OO
SO.OO

$0.00

FORM MOR-I

(""')

111 re: Cameros Enemy. biC.

Debtor

Case No. 09-10791

ReDOning Period: October 2009

BANK RECONCILlA TIONS

Contiuatin Sheet for MOR.!

BANK BALANCE

,,-:

(+) DEPOSITS L'I TRSIT (ATIACH LIS1)

(.) OUTSTANDING CHECKS (ATTACH US!) ~.
:
ADJUSTED BANK BALNCE.
. Adjusted bk b.lce most uul

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

bulcc per books

~.
~:

PORM MOR-In
(04107)

ttRgtrqtQy~(~i:j

Reporting Period: October 2009

Case No. 09-10791

FORM MOR-lb
(04/07)

~iitt~~&1!lf~f$1 W~ii1f;~~:~~ml%~~ ~b~~t,~~,slfsmt~l~~ *~RW;fJ.~!~~;~~~s;~t~;J~(f~~Wl\\t~&tert'Q~'tiiS'i~\*

No profesional fees were paid post-petiton.

\f1i\1&'tM1

~*l~l~ni.~li,~)~lW.~ff~lm~l riw?:~~~~~~j~Am~.\I!J1R-j~~liil~~Jli;, ~~;~;~~~~~l&y;~tt~iiiilm~Mtll1th~r&:f'ligl~

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

~~4t~1~~W~m:~G~6%!KW~!
1:l~;X"i".l~fjlJr~iW~
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. ~\~)Mt~HJ~'Vi1MM'i';"IIl&~~,;;;E~~\
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In re: Cameros Energy, Inc.

Debtor

In re: Cameros Energy, Inc.

Debtor

Case No. 09- 10791

Reporting Period: October 2009

STATEMENT OF OPERATIONS
(Income Statement)

304,188
33,41 I

(337.599)
. ~."

....-.._....

_.....

......~........~...,..,

..

...... ......-......

Accretion of discounts and amortization of deferred financinl: costs

Interest exoense- non-cash - naid in kind
Stock compensation exnense
Interest and dividends
Realized Qainf(loss) on deri vati yes

.....

...........!:i~~:~~.~Hrf;~~1~~t;i~~:t~;if~~J~;;)t;~n~. (;iji~~~;;~ ;~?:;g:~\::;~;.:.~.~::;:.~.:~: _.:',

3
-

.
Interest expense- cash
(110,363
)
(108,210
Other revenue
(362,616)
General exoloration exoense
(810,576)
(108,210) ...~.'..,..;:..'."
Net Profit (Loss) Before
Reorganization
Items "~*':"""'''.',:,,','''.'.
. .....:~:.....:.._"".,.....~.
,....,..."..:., ,..:.....~.:..;,.~...:~.....
.,~.: ..:~;."....\"...__."".:".
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..... ,,"'..'';c.,. ,;...,)""30'i~!j't\;:.;;",,;
.... - ."
... ."..'...,....
RERGXNIZA-TION,lTEJY1t"';'"",."""'l2\';i?;\\".
,';".i.(!.",;,,,.";ij;;,,;,\"";:.:;;;'s'~;:'i.'\':,,"'i":""''i'''''::!!''~!:;''f';:

-I

Professional Fee

Reomanization Interest
Net Profit (Loss)

- I

(108,210)1 $

(810.576)

FORM MOR-2
(04107)

Ca,. No. 09-10791

In re: Carnero!i Enerev. Inc.

Debtor

Rcl)on.inl! Period: October 2009

BALANCE SHEET

$
e.

Secured Debt
Prioritv Debt
Unsecured Debt

;~:;;;~~j::fi!-:1~;:~.~::':~:~'':j~~'~~R:/:~.~:
.......~.:.... ......_~.... .... ~.
~~;:'.~0r,it~~~'.~~;;7:.:i::.~,:~:;~~r.~,;~:'~.,~~i;~fj!':i:~: 5:;:~~::;~:; M:~:~.~~.':;!~., ::i;:~.:~:~::
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.....-.....
S

1.840,096

Intercomoanv Payable

1.840,096
$
.....:...',.,......:
....,.:.... .....,.....
i.....':.-...""..~.,_....",":.,~...
:;~,:2:1%:;~~;~;y~1f::~'Kt;:~(:::;.';~~~.'~..).tfy.:~;:,.t:;:,':~~ ::;~~;i~~.~.~~:;~~::~':~.,;~.~:r: -":.:;.':.~;.~:~:::::; .;:.:::.;.;''::'. '. ~ ~~::::;2i:~~:.\:.~.:,~:::::': ~::;;::.:: .:,:.;.=:: ':.~;'.' .... ." ::.;~~::~;::.';..E-:':.:: ::::.:.:::'::;.:S:::::;.::; ',:".~: ,.;;:::, ~ ~. .. -,~ ",::::,.f,::::\~~';:?:'
1.840.096
I
.1 $
~i::;!~1.::.;~;t.iK:~.t;~.~~~)~;,.~~:~., :;::d:::~::::::, ;\~::(~.:.:t:\:.::
:.;..~'.:::::~:!:~~:;;~.;~~:\~~:~r~1.:t~ ". .:~::..~;t:-:.~\~~.:::
.:::=,~~\?1~~;~:it;:?~::)j; :f.;::;;:;~:~:'.':'. :~;'Q!:~~Hf,;:-:~:~',::: ';'.\~'t,.:.,,:::::,,'

LlABlUTIES
TOTAL PRE.PETITION
........:...,...::.:~.....
....~..,....... ....,..~..:................u........ .'.
.:.:.,......._~.~.':..
.~.......-~,.:.~..~.~~....~,... ~', "::'.':'
. .:....
.:..~.,"-..,:..:,.;"~~.~...

12.907.025
(810.576)

FORM MOR..\

(Ol,

Case No. 09-10791

In re: Cameros 8nergv. Inc.

Renoiting Period: October 2009

Debtor

BALANCE SHEET. continuation sheet

$
Performance Bonds

Investments-Abandonment
Total Other Assets

13,926,545

10,000
10,000

FORM MOR-3 CONT'O

(04107)

In re: Cameros Energy, Inc.

Debtor

Case No. 09-10791

Reporting Period: October 2009

STATUS OF POSTPETITION TAXES

Not Applicable

Withholding
Sales
Excise
Unem 10 ment

Not Applicable

Real Pro e
Personal Property
Total State and Local

Total Taxes

SUMMARY OF UNAID POSTPETITION DEBTS

Not Applicable

FORM MOR-4
(04107)

In re: Cameros Energy, Inc.

Debtor

Case No. 09-10791

Reporting Period: October 2009

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

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.... ,..,..e
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..,-.--........_n'......:....._.,.......~.._.:......:.....;.....
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.. ........... ..........
.......... ,.."._n_..---.,.~...;:_..-....
'.;;i!...;:..:
';:':&~.,:~;~;:;:1;i0X~t;ii::;;~jf:~;;;~:\iM:tt;~~;N#i!
i:;:;i:tb;:!ll~W,Jlli1\));;;;;
ir';)::;0Y
.-

Total Accounts Receivable at the beginning of the reporting period

+ Amounts biled during the period
- Amounts collected during the period
Total Accounts Recei yable at the end of the reporting period

Not Applicable

I
.:::~,..~:,....
...~~.._;.;.y;.~~;..,...:....'
:.~"..."...,-.;-.'::-......:....,..
.....:..,...........:."....~:.;....-....,":.._.;;....:-..~....t..y--:.o..-;._\:
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. ,.:'.~::::..':;:...,.,:~:;'.~..,r'"':.::"'.
.... ..~::-;'i...'.':"'.. -.-:O..-;......-:~:~.':.,...::.'..:,,''':.;: .,.;.:.:";;:....::,..-:.-..:,:.'.,:~;...':::.-......,.,;._...:.:
:..~':,;.,::~..~,:
dmQu:n :3f::~t:rt~~~t~;.t.~~?(?i
X:i:~1tl-:~f.~:~.j%~2~;~~;~?)iI;~;~~~:~~~~::~~U~(i~~t~,tt~~~~~r?:;t~f~;!~~!!b:;~;~
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.. ',CQOO

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Al ,-'- ls';if
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0 - 30 days old
3 i - 60 days old
6 1 - 90 days old
9 i + days old

Not Applicable

Total Accounts Receivable

Accounts Receivable (Net)

DEBTOR QUESTIONNAIR
.._._.....
......... ............ ........_.. ............ ...-... .. . '. .~ .
...................._... . .. ............~..... . .
..........- ....... ........-..........
Mijtlli~~;plt~lrthil6ritbSi!(;l~i\g;i~\'gjeta?;:l;;:;ii~iMgjt:ilt)~lf:i;ii2i:1E\;fM!f(i\:i;i~tj:0i(\k;i,.,~;:iM!jjiiB0,i;f\~t;!jW~j~;iiif!;,:i:!!W'!iNti!gX;\:;~\~~lhi~l';~
"-.-.~--.,."_..".",,,.,,,,,.,',""'''~.'
~.~ .,.-.... ....-.......-:.....

Yes

I. Have any assets been sold or transferred outside ile normal course of business
this reporting period? If yes, provide an explanation below,
Sale afcertall office equipmeni in Bakersfield office. Approved by Bankruptcy Court, Docket

#1160,

dated November 25, 2009.

2. Have any funds been disbursed from any account other than a debtor in possession

No

account this reportng period? If yes, provide an explanation below.

3.

Have aU postpetition taX returns been timely fied? If

no, provide an explanation

Yes

below.
4. Are workers compensation, general liability and other necssa insurance

Yes

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

5. Has any bank account been opened durng the reporting period? If yes, provide
documentation identifying the opened account(s). If an investment account has been opened

No

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

FORM MOR-5
(04107)