1 EXHIBIT 99.1 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS CORPUS CHRISTI DIVISION CASE NAME: TRANSAMERICAN ENERGY CORPORATION PETITION DATE: APRIL 20, 1999 CASE NUMBER: 99-21551-C-11 MONTHLY OPERATING REPORT SUMMARY FOR MONTH NOVEMBER YEAR 1999 ==================================================================================================================================== MONTH 5/99 6/99 7/99 8/99 9/99 10/99 11/99 - ------------------------------------------------------------------------------------------------------------------------------------ REVENUES (MOR-6) -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ INCOME BEFORE INT, DEPREC./TAX (MOR-6) (28,294) (4,581) (56,719) 43,491 (2,908) (38,909) 3,351 - ------------------------------------------------------------------------------------------------------------------------------------ NET INCOME (LOSS) (MOR-6) (136,686) (250,375) (270,320) 6,561,021 409,126 373,125 415,429 - ------------------------------------------------------------------------------------------------------------------------------------ PAYMENTS TO INSIDERS (MOR-9) -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ PAYMENTS TO PROFESSIONALS (MOR-9) -- -- -- -- -- -- -- - ------------------------------------------------------------------------------------------------------------------------------------ TOTAL DISBURSEMENTS (MOR-8) -- 976 1,272 24,335 -- 3,846 -- ==================================================================================================================================== ***The ORIGINAL of this document MUST BE FILED with the United States Bankruptcy Court and a COPY MUST BE SENT to the United States Trustee*** No. of Policies expiring within 90 days: 5 - ------------------------------------------------------------------------------- REQUIRED INSURANCE MAINTAINED AS OF SIGNATURE DATE EXP. *SEE ATTACHED SCHEDULE DATE - ----------------------------- ----------- CASUALTY YES( X ) NO( ) * - - --- --- --- LIABILITY YES( X ) NO( ) * - - --- --- --- VEHICLE YES( X ) NO( ) * - - --- --- --- WORKER'S YES( X ) NO( ) * - - --- --- --- OTHER_________________ YES( ) NO( ) - - --- --- --- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- ATTORNEY NAME: Pete Holzer ----------------------------------------- FIRM: Jordan, Hyden, Womble & Culbreth, P.C. ------------------------------------------------- ADDRESS: 500 N. Shoreline, Suite 900 ---------------------------------------------- ADDRESS: ----------------------------------------------- CITY, STATE, ZIP: Corpus Christi, TX 78471 -------------------------------------- TELEPHONE: (361) 884-5678 --------------------------------------------- - ------------------------------------------------------------------------------- CHECK ONE Are all accounts receivable being collected within terms? YES (X) NO ( ) Are all post-petition liabilities, including taxes, being paid within terms? YES (X) NO ( ) Have any pre-petition liabilities been paid? YES ( ) NO (X) If so, describe -- - ------------------------------------------------------------------------------- Are all funds received being deposited into DIP bank accounts? YES (X) NO ( ) Were any assets disposed of outside the normal course of business? YES ( ) NO (X) If so, describe --------------------------------------------------------------- Are all U. S. Trustee Quarterly Fee Payments current? YES (X) NO ( ) What is the status of your Plan of Reorganization? Confirmation hearing commenced on November 9, 1999, and is continuing. - ------------------------------------------------------------------------------- I certify under penalty of perjury that the following complete Monthly Operating Report (MOR), consisting of MOR-1 through MOR-9 plus attachments, is true and correct. SIGNED /s/ ED DONAHUE ------------------------------------------------- (ORIGINAL SIGNATURE) TITLE VICE PRESIDENT -------------------------------------------------- MOR-1 2 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 COMPARATIVE BALANCE SHEETS ========================================================================================= ASSETS FILING DATE* MONTH MONTH MONTH 4/20/99 5/99 6/99 7/99 - ----------------------------------------------------------------------------------------- CURRENT ASSETS - ----------------------------------------------------------------------------------------- Cash 39,442 39,556 38,681 37,521 - ----------------------------------------------------------------------------------------- Accounts Receivable, Net -- -- -- -- - ----------------------------------------------------------------------------------------- Inventory: Lower of Cost or Market -- -- -- -- - ----------------------------------------------------------------------------------------- Prepaid Expenses 10,812 -- -- -- - ----------------------------------------------------------------------------------------- Investments -- -- -- -- - ----------------------------------------------------------------------------------------- Other - Accrued Interest 23,192,495 29,601,981 40,768,940 57,778,099 - ----------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS 23,242,749 29,641,537 40,807,621 57,815,620 ========================================================================================= PROPERTY, PLANT&EQUIP, @ COST -- -- -- -- - ----------------------------------------------------------------------------------------- Less Accumulated Depreciation -- -- -- -- - ----------------------------------------------------------------------------------------- NET BOOK VALUE OF PP & E -- -- -- -- - ----------------------------------------------------------------------------------------- OTHER ASSETS: - ----------------------------------------------------------------------------------------- 1. Tax Deposits -- -- -- -- - ----------------------------------------------------------------------------------------- 2. Investments in Subs(1) 467,112,579 467,112,579 467,112,579 467,112,579 - ----------------------------------------------------------------------------------------- 3. Notes Receivable(2) 1,399,176,694 1,414,699,522 1,420,000,000 1,420,000,000 - ----------------------------------------------------------------------------------------- 4. (attach list) Deferred Debt Costs(5) 4,950,550 4,839,952 4,729,520 4,596,283 - ----------------------------------------------------------------------------------------- TOTAL ASSETS 1,894,482,572 1,916,293,590 1,932,649,720 1,949,524,482 ========================================================================================= ========================================================================================= ASSETS MONTH MONTH MONTH MONTH 8/99 9/99 10/99 11/99 - ----------------------------------------------------------------------------------------- CURRENT ASSETS - ----------------------------------------------------------------------------------------- Cash 13,308 13,308 9,462 29,506 - ----------------------------------------------------------------------------------------- Accounts Receivable, Net -- -- -- -- - ----------------------------------------------------------------------------------------- Inventory: Lower of Cost or Market -- -- -- -- - ----------------------------------------------------------------------------------------- Prepaid Expenses -- -- -- -- - ----------------------------------------------------------------------------------------- Investments -- -- -- -- - ----------------------------------------------------------------------------------------- Other - Accrued Interest 26,759,956 27,171,990 27,584,023 27,996,058 - ----------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS 26,773,264 27,185,298 27,593,485 28,025,564 ========================================================================================= PROPERTY, PLANT&EQUIP, @ COST -- -- -- -- - ----------------------------------------------------------------------------------------- Less Accumulated Depreciation -- -- -- -- - ----------------------------------------------------------------------------------------- NET BOOK VALUE OF PP & E -- -- -- -- - ----------------------------------------------------------------------------------------- OTHER ASSETS: - ----------------------------------------------------------------------------------------- 1. Tax Deposits -- -- -- -- - ----------------------------------------------------------------------------------------- 2. Investments in Subs(1) 467,112,579 467,112,579 467,112,579 467,112,579 - ----------------------------------------------------------------------------------------- 3. Notes Receivable(2) 1,420,000,000 1,420,000,000 1,420,000,000 1,420,000,000 - ----------------------------------------------------------------------------------------- 4. (attach list) Deferred Debt Costs(5) 4,920,878 4,920,878 4,920,878 4,920,878 - ----------------------------------------------------------------------------------------- TOTAL ASSETS 1,918,806,721 1,919,218,755 1,919,626,942 1,920,059,021 ========================================================================================= *Per Schedules and Statement of Affairs MOR-2 3 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 COMPARATIVE BALANCE SHEETS ======================================================================================= LIABILITIES & OWNER'S FILING DATE* MONTH MONTH MONTH EQUITY 4/20/99 5/99 6/99 7/99 - --------------------------------------------------------------------------------------- LIABILITIES: - --------------------------------------------------------------------------------------- POST-PETITION LIABILITIES (MOR-4) -- 6,221,180 17,461,230 34,557,310 ======================================================================================= PRE-PETITION LIABILITIES: - --------------------------------------------------------------------------------------- Notes Payable- Secured(4) 1,583,926,661 1,599,635,877 1,605,000,000 1,605,000,000 - --------------------------------------------------------------------------------------- Priority Debt -- -- -- -- - --------------------------------------------------------------------------------------- Federal Income Tax -- -- -- -- - --------------------------------------------------------------------------------------- FICA/Withholding -- -- -- -- - --------------------------------------------------------------------------------------- Unsecured Debt 3,427,771 3,445,079 3,447,411 3,496,413 - --------------------------------------------------------------------------------------- Other - Accrued Interest 18,967,014 18,967,014 18,967,014 18,967,014 - --------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 1,606,321,446 1,622,047,970 1,627,414,425 1,627,463,427 - --------------------------------------------------------------------------------------- TOTAL LIABILITIES 1,606,321,446 1,628,269,150 1,644,875,655 1,662,020,737 ======================================================================================= OWNERS'S EQUITY (DEFICIT): - --------------------------------------------------------------------------------------- PREFERRED STOCK -- -- -- -- - --------------------------------------------------------------------------------------- COMMON STOCK 90 90 90 90 - --------------------------------------------------------------------------------------- ADDITIONAL PAID-IN CAPITAL 289,333,898 289,333,898 289,333,898 289,333,898 - --------------------------------------------------------------------------------------- RETAINED EARNINGS: Filing Date (1,172,862 (1,172,862) (1,172,862) (1,172,862) - --------------------------------------------------------------------------------------- RETAINED EARNINGS: Post Filing Date -- (136,686) (387,061) (657,381) - --------------------------------------------------------------------------------------- TOTAL OWNER'S EQUITY (NET WORTH) 288,161,126 288,024,440 287,774,065 287,503,745 ======================================================================================= TOTAL LIABILITIES & OWNER'S EQUITY 1,894,482,572 1,916,293,590 1,932,649,720 1,949,524,482 ======================================================================================= ======================================================================================== LIABILITIES & OWNER'S MONTH MONTH MONTH MONTH EQUITY 8/99 9/99 10/99 11/99 - ---------------------------------------------------------------------------------------- LIABILITIES: - ---------------------------------------------------------------------------------------- POST-PETITION LIABILITIES (MOR-4) 1,674,163 1,674,461 1,706,548 1,703,198 ======================================================================================== PRE-PETITION LIABILITIES: - ---------------------------------------------------------------------------------------- Notes Payable- Secured(4) 1,605,000,000 1,605,000,000 1,605,000,000 1,605,000,000 - ---------------------------------------------------------------------------------------- Priority Debt -- -- -- -- - ---------------------------------------------------------------------------------------- Federal Income Tax -- -- -- -- - ---------------------------------------------------------------------------------------- FICA/Withholding -- -- -- -- - ---------------------------------------------------------------------------------------- Unsecured Debt 3,431,237 3,433,847 3,436,822 3,456,822 - ---------------------------------------------------------------------------------------- Other - Accrued Interest 18,967,014 18,967,014 18,967,014 18,967,014 - ---------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES 1,627,398,251 1,627,400,861 1,627,403,836 1,627,423,836 - ---------------------------------------------------------------------------------------- TOTAL LIABILITIES 1,629,072,414 1,629,075,322 1,629,110,384 1,629,127,034 ======================================================================================== OWNERS'S EQUITY (DEFICIT): - ---------------------------------------------------------------------------------------- PREFERRED STOCK -- -- -- -- - ---------------------------------------------------------------------------------------- COMMON STOCK 90 90 90 90 - ---------------------------------------------------------------------------------------- ADDITIONAL PAID-IN CAPITAL 289,333,898 289,333,898 289,333,898 289,333,898 - ---------------------------------------------------------------------------------------- RETAINED EARNINGS: Filing Date (1,172,862) (1,172,862) (1,172,862 (1,172,862) - ---------------------------------------------------------------------------------------- RETAINED EARNINGS: Post Filing Date 1,573,181 1,982,307 2,355,432 2,770,861 - ---------------------------------------------------------------------------------------- TOTAL OWNER'S EQUITY (NET WORTH) 289,734,307 290,143,433 290,516,558 290,931,987 ======================================================================================== TOTAL LIABILITIES & OWNER'S EQUITY 1,918,806,721 1,919,218,755 1,919,626,942 1,920,059,021 ======================================================================================== *Per Schedules and Statement of Affairs MOR-3 4 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 SCHEDULE OF POST-PETITION LIABILITIES =================================================================================================================================== MONTH MONTH MONTH MONTH MONTH MONTH MONTH 5/99 6/99 7/99 8/99 9/99 10/99 11/99 - ----------------------------------------------------------------------------------------------------------------------------------- TRADE ACCOUNTS PAYABLE -- 1,272 7,717 5,066 5,364 37,451 34,101 - ----------------------------------------------------------------------------------------------------------------------------------- TAX PAYABLE: - ----------------------------------------------------------------------------------------------------------------------------------- FEDERAL PAYROLL TAXES -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- STATE PAYROLL & SALES -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- AD VALOREM TAXES -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- OTHER TAXES -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL TAXES PAYABLE -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- SECURED DEBT POST-PETITION -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- ACCRUED INTEREST PAYABLE(5) 6,221,180 17,459,958 34,549,593 1,669,097 1,669,097 1,669,097 1,669,097 - ----------------------------------------------------------------------------------------------------------------------------------- *ACCRUED PROFESSIONAL FEES: -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- OTHER ACCRUED LIABILITIES: -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- 1. -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- 2. -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- 3. -- -- -- -- -- -- -- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL POST-PETITION LIABILITIES (MOR-3) 6,221,180 17,461,230 34,557,310 1,674,163 1,674,461 1,706,548 1,703,198 =================================================================================================================================== * Payment Requires Court Approval. MOR-4 5 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 AGING OF POST-PETITION LIABILITIES MONTH NOVEMBER 1999 DAYS TOTAL TRADE ACCTS FED TAXES STATE TAXES AD-VALOREM, OTHER OTHER TAXES ===================================================================================================== 0-30 34,101 34,101 -- - ----------------------------------------------------------------------------------------------------- 31-60 -- -- -- - ----------------------------------------------------------------------------------------------------- 61-90 -- -- -- - ----------------------------------------------------------------------------------------------------- 91 + 1,669,097 -- 1,669,097 - ----------------------------------------------------------------------------------------------------- TOTAL 1,703,198 34,101 1,669,097 ===================================================================================================== AGING OF ACCOUNTS RECEIVABLE MONTH 5/99 6/99 7/99 8/99 9/99 10/99 11/99 ==================================================================================================================== 0-30 DAYS -- -- -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- 31-60 DAYS -- -- -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- 61-90 DAYS -- -- -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- 91 + DAYS -- -- -- -- -- -- -- - -------------------------------------------------------------------------------------------------------------------- TOTAL -- -- -- -- -- -- -- ==================================================================================================================== MOR-5 6 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 STATEMENT OF INCOME (LOSS) ================================================================================================================================= MONTH 4/20/99- FILING TO 5/31/99 6/99 7/99 8/99 9/99 10/99 11/99 DATE ================================================================================================================================= REVENUES (MOR-1) -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- TOTAL COST OF REVENUES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- GROSS PROFIT -- -- -- -- -- -- -- -- ================================================================================================================================= OPERATING EXPENSES: - --------------------------------------------------------------------------------------------------------------------------------- Selling & Marketing -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- General & Administrative 17,482 4,581 56,719 (43,491) 2,908 38,909 (3,351) 73,757 - --------------------------------------------------------------------------------------------------------------------------------- Insiders Compensation -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Professional Fees -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Other (attach list) -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- Franchise Taxes 10,812 -- -- -- -- -- -- 10,812 - --------------------------------------------------------------------------------------------------------------------------------- TOTAL OPERATING EXPENSES 28,294 4,581 56,719 (43,491) 2,908 38,909 (3,351) 84,569 ================================================================================================================================= INCOME BEFORE INT, DEPR/TAX (MOR-1) (28,294) (4,581) (56,719) 43,491 (2,908) (38,909) 3,351 (84,569) - --------------------------------------------------------------------------------------------------------------------------------- INTEREST EXPENSE(5) 22,040,995 6,713,332 7,222,872 3,205,091) -- -- -- 22,772,108 - --------------------------------------------------------------------------------------------------------------------------------- DEPRECIATION -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- OTHER (INCOME) EXPENSE* INTEREST(3) (21,932,603) 6,467,538 7,009,271) 1,018,020 (412,034) (412,034) (412,078) (25,627,538) - --------------------------------------------------------------------------------------------------------------------------------- OTHER ITEMS** -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- TOTAL INT, DEPR & OTHER ITEMS 108,392 245,794 213,601 2,187,071) (412,034) (412,034) (412,078) (2,855,430) ================================================================================================================================= NET INCOME BEFORE TAXES (136,686) (250,375) (270,320) 2,230,562 409,126 373,125 415,429 2,770,861 - --------------------------------------------------------------------------------------------------------------------------------- FEDERAL INCOME TAXES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- NET INCOME (LOSS) (MOR-1) (136,686) (250,375) (270,320) 2,230,562 409,126 373,125 415,429 2,770,861 ================================================================================================================================ Accrual Accounting Required, Otherwise Footnote With Explanation * Footnote Mandatory ** Unusual and/or infrequent item(s) outside the ordinary course of business; requires footnote MOR-6 7 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 ================================================================================================================================= CASH RECEIPTS AND MONTH MONTH MONTH MONTH MONTH MONTH MONTH FILING TO DISBURSEMENTS 5/99 6/99 7/99 8/99 9/99 10/99 11/99 DATE - --------------------------------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH 39,442 39,556 38,681 37,521 13,308 13,308 9,462 39,442 ================================================================================================================================= RECEIPTS: - --------------------------------------------------------------------------------------------------------------------------------- 2. CASH SALES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 3. COLLECTION OF ACCOUNTS RECEIVABLE -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 4. LOANS & ADVANCES (ATTACH LIST) -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 5. SALE OF ASSETS -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 6. OTHER (ATTACH LIST) - INTEREST INCOME 114 101 112 122 -- -- 44 493 - --------------------------------------------------------------------------------------------------------------------------------- TOTAL RECEIPTS 114 101 112 122 -- -- 44 493 - --------------------------------------------------------------------------------------------------------------------------------- (WITHDRAWAL) CONTRIBUTION BY INDIVIDUAL DEBTOR MFR-2* -- -- -- -- -- -- -- -- ================================================================================================================================= DISBURSEMENTS: - --------------------------------------------------------------------------------------------------------------------------------- 7. NET PAYROLL -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 8. PAYROLL TAXES PAID -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 9. SALES, USE & OTHER TAXES PAID -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 10. SECURED/RENTAL/LEASES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 11. UTILITIES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 12. INSURANCE -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 13. INVENTORY PURCHASES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 14. VEHICLE EXPENSES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 15. TRAVEL & ENTERTAINMENT -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 16. REPAIRS, MAINTENANCE & SUPPLIES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 17. ADMINISTRATIVE & SELLING -- 976 1,272 -- -- 3,846 -- 6,094 - --------------------------------------------------------------------------------------------------------------------------------- 18. OTHER (ATTACH LIST) (TRANSAMERICAN REFINING) -- -- -- 24,335 -- -- (20,000) 4,335 - --------------------------------------------------------------------------------------------------------------------------------- TOTAL DISBURSEMENTS FROM OPERATIONS -- 976 1,272 24,335 -- 3,846 (20,000) 10,429 ================================================================================================================================= 19. PROFESSIONAL FEES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 20. U.S. TRUSTEE FEES -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- 21. OTHER REORGANIZATION EXPENSES (ATTACH LIST) -- -- -- -- -- -- -- -- - --------------------------------------------------------------------------------------------------------------------------------- TOTAL DISBURSEMENTS -- 976 1,272 24,335 -- 3,846 (20,000) 10,429 ================================================================================================================================= 22. NET CASH FLOW 114 (875) (1,160) (24,213) -- (3,846) 20,044 (9,936) - --------------------------------------------------------------------------------------------------------------------------------- 23. CASH - END OF MONTH (MOR-2) 39,556 38,681 37,521 13,308 13,308 9,462 29,506 29,506 ================================================================================================================================= *Applies to Individual debtors only. MOR-7 8 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 CASH ACCOUNT RECONCILIATION MONTH OF NOVEMBER 1999 ==================================================================================== BANK NAME FIRSTAR FLEET STERLING - ------------------------------------------------------------------------------------ ACCOUNT NUMBER #21-00-002-5031306 # -- #0130002224 - ------------------------------------------------------------------------------------ ACCOUNT TYPE INTEREST SHORT-TERM ACCUMULATION INVESTMENTS CHECKING TOTAL - ------------------------------------------------------------------------------------ BANK BALANCE -- 29,506 -- 29,506 - ------------------------------------------------------------------------------------ DEPOSIT IN TRANSIT -- -- -- -- - ------------------------------------------------------------------------------------ OUTSTANDING CHECKS -- -- -- -- - ------------------------------------------------------------------------------------ ADJUSTED BANK BALANCE -- 29,506 -- 29,506 ==================================================================================== BEGINNING CASH - PER BOOKS -- 9,462 -- 9,462 - ------------------------------------------------------------------------------------ RECEIPTS -- 44 -- 44 - ------------------------------------------------------------------------------------ TRANSFERS BETWEEN ACCOUNTS -- 20,000 -- 20,000 - ------------------------------------------------------------------------------------ (WITHDRAWAL)CONTRIBUTION- -- -- -- -- BY INDIVIDUAL DEBTOR MFR-2 - ------------------------------------------------------------------------------------ CHECKS/OTHER DISBURSEMENTS -- -- -- -- - ------------------------------------------------------------------------------------ ENDING CASH - PER BOOKS -- 29,506 -- 29,506 ==================================================================================== MOR-8 9 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 PAYMENTS TO INSIDERS AND PROFESSIONALS Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U. S. Bankruptcy Code) and the professionals. Also, for insiders identify the type of compensation paid (e.g., salary, commission, bonus, etc.) (Attach additional pages as necessary.) ========================================================================================================================== MONTH MONTH MONTH MONTH MONTH MONTH MONTH INSIDERS: NAME/POSITION/COMP TYPE 5/99 6/99 7/99 8/99 9/99 10/99 11/99 ========================================================================================================================== 1. NONE - -------------------------------------------------------------------------------------------------------------------------- 2. - -------------------------------------------------------------------------------------------------------------------------- 3. - -------------------------------------------------------------------------------------------------------------------------- 4. - -------------------------------------------------------------------------------------------------------------------------- 5. - -------------------------------------------------------------------------------------------------------------------------- 6. ========================================================================================================================== TOTAL INSIDERS (MOR-1) -- -- -- -- -- -- -- ========================================================================================================================== MONTH MONTH MONTH MONTH MONTH MONTH MONTH PROFESSIONALS 5/99 6/99 7/99 8/99 9/99 10/99 11/99 NAME/ORDER DATE ========================================================================================================================== 1. NONE - -------------------------------------------------------------------------------------------------------------------------- 2. - -------------------------------------------------------------------------------------------------------------------------- 3. - -------------------------------------------------------------------------------------------------------------------------- 4. - -------------------------------------------------------------------------------------------------------------------------- 5. - -------------------------------------------------------------------------------------------------------------------------- 6. - -------------------------------------------------------------------------------------------------------------------------- TOTAL PROFESSIONALS (MOR-1) -- -- -- -- -- -- -- ========================================================================================================================== MOR-9 10 TRANSAMERICAN ENERGY CORPORATION 99-21551-C-11 NOTES TO MONTHLY OPERATING REPORT NOVEMBER 1999 1. TransAmerican Energy Corporation's (the "Company") investment in TransTexas Gas Corporation ("TransTexas") and TransAmerican Refining Corporation ("TARC") was reflected in the Company's Schedules at estimated market value. The Company's investment in its subsidiaries is reflected in the Monthly Operating Report ("MOR") at cost. 2. The secured note receivable from TransAmerican Refining Corporation was reflected in the Company's Schedules at its fully accreted balance of $920.0 million. The balance of this note receivable is reflected in the Company's MOR at its accreted balance as of April 20, 1999 and May 31, 1999 of $899.2 million and $914.7 million, respectively. On June 15, 1999, this note receivable reached its fully accreted balance. 3. During August 1999, the Company reversed the accrual of interest on the notes receivable from TransTexas and TARC in accordance with current accounting pronouncements applicable to companies operating under Chapter 11. 4. On June 15, 1999, the Company's senior secured discount notes reached their fully accreted balance of $1.13 billion. 5. During August 1999, the Company reversed the accrual of interest and amortization of deferred debt issue costs related to its senior secured notes and senior secured discount notes in accordance with current accounting pronouncements applicable to companies operating under Chapter 11. 11 CASE NAME: TRANSAMERICAN ENERGY CORPORATION CASE NUMBER: 99-21551-C-11 PETITION DATE: APRIL 20, 1999 INSURANCE MAINTAINED November 30, 1999 EXPIRATION TYPE OF INSURANCE DATE - ------------------------------------------------------- ------------------- CASUALTY AND LIABILITY ---------------------- Primary General Liability January 30, 2000 Excess Liability January 30, 2000 Operator's Extra Expense January 15, 2000 Oil Pollution January 31, 2000 Commercial Crime February 01, 2000 Directors and Officers Liability March 23, 2000 Directors and Officers Excess March 23, 2000 Automobile Liability (Texas) May 01, 2000 Workers' Compensation and Employer's Liability May 01, 2000 Maritime Employer's Liability May 24, 2000