CASE NAME: Coho Energy, Inc., ET AL EXHIBIT 99.1
CASE NUMBER: 02-31189-HCA-11 Monthly Operating Report
JUDGE: Harold C. Abramson ACCRUAL BASIS
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION
MONTHLY OPERATING REPORT
MONTH ENDING: NOVEMBER 30, 2002
COHO ENERGY, INC. MONTHLY OPERATING REPORT
BANKRUPTCY CONSOLIDATION ACCRUAL BASIS - 1
BALANCE SHEETS (IN 000'S)
NOVEMBER 30, 2002
<Table>
<Caption>
SOFA FEB 28, MAR 31, APR 30, MAY 31,
SCHEDULE 2002 2002 2002 2002
--------- --------- --------- --------- ---------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 7,810 $ 9,023 $ 10,655 $ 11,246 $ 11,635
Cash in escrow 25 25 25 26 26
Accounts receivable 7,495 7,231 8,135 8,801 9,738
Other current assets 32 1,001 930 1,025 986
Accrued unrealized gains derivatives -- 2,225 37 37 37
--------- --------- --------- --------- ---------
15,362 19,505 19,782 21,135 22,422
PROPERTY AND EQUIPMENT 335,561 331,674 330,808 330,378 329,845
INVESTMENT IN SUBSIDIARIES -- 260 260 59 58
OTHER ASSETS 82 22,692 111 112 104
--------- --------- --------- --------- ---------
$ 351,005 $ 374,131 $ 350,961 $ 351,684 $ 352,429
========= ========= ========= ========= =========
LIABILITIES AND
SHAREHOLDERS' EQUITY
LIABILITIES NOT SUBJECT TO COMPROMISE
CURRENT LIABILITIES
Accounts payable, principally trade -- 485 712 874 744
Accrued liabilities and other payables -- 2,559 4,426 4,402 4,697
Accrued interest payable -- 681 1,034 1,354 1,278
Accrued unrealized losses derivatives -- 165 506 506 506
Current portion of long term debt -- -- -- -- --
--------- --------- --------- --------- ---------
0 3,890 6,678 7,136 7,225
LIABILITIES SUBJECT TO COMPROMISE
Accounts payable, principally trade 5,644 4,928 5,771 5,821 5,800
Accrued liabilities and other payables 1,032 1,588 944 949 687
Current portion of long term debt 327,797 316,934 327,679 327,482 327,482
--------- --------- --------- --------- ---------
334,473 323,450 334,394 334,252 333,969
LONG TERM DEBT -- -- -- -- --
DEFERRED INCOME TAXES -- -- -- -- --
--------- --------- --------- --------- ---------
334,473 327,340 341,072 341,388 341,194
--------- --------- --------- --------- ---------
COMMITMENTS AND
CONTINGENCIES 5,550 450 450 450 450
OTHER LONG TERM ACCRUED DERIVATIVES -- 257 397 397 397
SHAREHOLDERS' EQUITY
Prepetition owners' equity 8,679 47,098 13,771 13,771 13,771
Postpetition owners' equity(a) -- (1,014) (4,729) (4,322) (3,383)
--------- --------- --------- --------- ---------
Total Shareholders' Equity 8,679 46,084 9,042 9,449 10,388
--------- --------- --------- --------- ---------
$ 348,702 $ 374,131 $ 350,961 $ 351,684 $ 352,429
========= ========= ========= ========= =========
<Caption>
JUNE 30, JULY 31, AUGUST 31, SEPT 30, OCT 31, NOV 30,
2002 2002 2002 2002 2002 2002
--------- --------- ---------- --------- --------- ---------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 12,917 $ 14,001 $ 13,679 $ 7,592 $ 7,061 $ 6,813
Cash in escrow 26 26 48,977 28,140 26,291 26,291
Accounts receivable 12,108 12,544 3,849 3,494 3,373 3,268
Other current assets 954 1,195 322 371 349 329
Accrued unrealized gains derivatives 4 4 -- -- -- --
--------- --------- --------- --------- --------- ---------
26,009 27,770 66,827 39,597 37,074 36,701
PROPERTY AND EQUIPMENT 329,371 328,769 441 411 382 3
INVESTMENT IN SUBSIDIARIES 54 54 56 54 57 57
OTHER ASSETS 89 103 -- -- -- --
--------- --------- --------- --------- --------- ---------
$ 355,523 $ 356,696 $ 67,324 $ 40,062 $ 37,513 $ 36,761
========= ========= ========= ========= ========= =========
LIABILITIES AND
SHAREHOLDERS' EQUITY
LIABILITIES NOT SUBJECT TO COMPROMISE
CURRENT LIABILITIES
Accounts payable, principally trade 2,075 2,176 608 553 197 119
Accrued liabilities and other payables 4,383 4,013 7,863 3,191 1,133 651
Accrued interest payable 1,596 3,035 3,240 2,203 2,203 597
Accrued unrealized losses derivatives 834 834 -- -- -- --
Current portion of long term debt -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
8,888 10,058 11,711 5,947 3,533 1,367
LIABILITIES SUBJECT TO COMPROMISE
Accounts payable, principally trade 5,679 5,617 4,608 4,608 4,571 4,578
Accrued liabilities and other payables 688 688 603 603 603 478
Current portion of long term debt 326,388 326,388 153,508 132,705 132,705 132,705
--------- --------- --------- --------- --------- ---------
332,755 332,693 158,719 137,916 137,879 137,761
LONG TERM DEBT -- -- -- -- -- --
DEFERRED INCOME TAXES -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
341,643 342,751 170,430 143,863 141,412 139,128
--------- --------- --------- --------- --------- ---------
COMMITMENTS AND
CONTINGENCIES 450 450 -- -- -- --
OTHER LONG TERM ACCRUED DERIVATIVES 397 397 -- -- -- --
SHAREHOLDERS' EQUITY
Prepetition owners' equity 13,771 13,771 13,771 13,771 13,771 13,771
Postpetition owners' equity(a) (738) (673) (116,877) (117,572) (117,670) (116,138)
--------- --------- --------- --------- --------- ---------
Total Shareholders' Equity 13,033 13,098 (103,106) (103,801) (103,899) (102,367)
--------- --------- --------- --------- --------- ---------
$ 355,523 $ 356,696 $ 67,324 $ 40,062 $ 37,513 $ 36,761
========= ========= ========= ========= ========= =========
</Table>
(a) Postpetition owners' equity represents earnings subsequent to January
2002 , excluding the standby loan prepayment fee expense of $29.3
million, the FAS 133 adjustment related to the gain on standby loan
embedded derivative of $10.2 million, the write off of $22.6 million in
unamortized debt issuance costs and the write off of $10.7 million in
unamortized debt discount.
COHO ENERGY CASE NO. 02-31189-HCA-11
COHO ENERGY, INC. MONTHLY OPERATING REPORT
BANKRUPTCY CONSOLIDATION ACCRUAL BASIS - 2
STATEMENTS OF OPERATIONS(IN 000'S) PAGE 1 OF 2
NOVEMBER 30, 2002
<Table>
<Caption>
JAN 02(a) FEB 02 MAR 02 APR 02 MAY 02 JUNE 02
--------- --------- --------- --------- --------- ---------
PRODUCTION/PRICES
Oil (Bbls/day) 9,103 9,348 9,115 9,052 9,638 9,210
Gas (Mcf/day) 4,085 4,375 3,986 4,157 3,924 4,013
BOE/day * 9,783 10,077 9,779 9,745 10,292 9,879
Average Oil Price $ 14.93 $ 16.01 $ 19.72 $ 21.68 $ 22.30 $ 20.90
Average Gas Price $ 2.65 $ 2.06 $ 2.48 $ 3.22 $ 3.27 $ 3.26
Average BOE Price $ 15.00 $ 15.74 $ 19.39 $ 21.51 $ 22.13 $ 20.81
OPERATING REVENUES
Oil and gas production $ 4,549 $ 4,442 $ 5,877 $ 6,290 $ 7,058 $ 6,168
--------- --------- --------- --------- --------- ---------
Total operating revenues 4,549 4,442 5,877 6,290 7,058 6,168
--------- --------- --------- --------- --------- ---------
OPERATING EXPENSES
Oil and gas production 2,187 2,063 2,097 2,022 2,149 2,045
Taxes on oil & gas production 278 263 348 373 415 359
General & administrative 643 490 227 256 304 258
Depletion & depreciation 1,519 1,455 1,539 1,484 1,617 1,505
Allowance for bad debt -- -- -- -- -- --
(Gain)Loss on derivatives (251) (10,257) 13,446 11 106 (253)
--------- --------- --------- --------- --------- ---------
Total operating expenses 4,376 (5,986) 17,657 4,146 4,591 3,914
--------- --------- --------- --------- --------- ---------
OPERATING INCOME 173 10,428 (11,780) 2,144 2,467 2,254
OTHER INCOME & EXPENSES
Equity in income from subsidiaries -- 200 -- -- -- (4)
Interest and other income 17 3 -- 12 (7) 0
Interest expense (2,713) (1,333) (1,186) (1,260) (1,355) (1,393)
Standby loan prepayment fee -- (29,344) 29,344 -- -- --
Reorganization costs (33) (114) (53,309) (490) (166) (417)
Litigation Settlement -- -- -- -- -- 2,832
Loss on sale of property and equipment -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
(2,729) (30,588) (25,151) (1,738) (1,528) 1,018
--------- --------- --------- --------- --------- ---------
EARNINGS (LOSS) BEFORE TAXES
AND EXTRAORDINARY ITEMS (2,556) (20,160) (36,931) 406 939 3,272
--------- --------- --------- --------- --------- ---------
INCOME TAX EXPENSE (BENEFIT)
Current -- -- -- -- -- --
Deferred -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
0 0 0 0 0 0
--------- --------- --------- --------- --------- ---------
EARNINGS (LOSS) (2,556) (20,160) (36,931) 406 939 3,272
--------- --------- --------- --------- --------- ---------
EXTRAORDINARY ITEMS
Gain on extinguishment on indebtedness -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
NET EARNINGS (LOSS) $ (2,556) $ (20,160) $ (36,931) $ 406 $ 939 $ 3,272
========= ========= ========= ========= ========= =========
BASIC EARNINGS PER SHARE** $ (0.14) $ (1.08) $ (1.97) $ 0.02 $ 0.05 $ 0.17
CASH FLOW FROM OPERATIONS $ 846 $ 561 $ 498 $ 1,910 $ 2,551 $ 4,511
CASH FLOW PER SHARE** $ 0.05 $ 0.03 $ 0.03 $ 0.10 $ 0.14 $ 0.24
(a) January 2002 is a prepetition period
(b) August 2002 reorganization expense includes employee and officer
severance payments of approximately $4.0 million.
* BOE means barrel of oil equivalent, assuming a ratio of 6 mcf to one
barrel
** Common shares 18,714 18,714 18,714 18,714 18,714 18,714
<Caption>
YEAR-TO-DATE
JULY 02 AUG 02 SEP 02 OCT 02 NOV 02 11/30/02
--------- --------- --------- --------- --------- ------------
PRODUCTION/PRICES
Oil (Bbls/day) 9,005 8,810 0 0 0 9,161
Gas (Mcf/day) 3,487 3,370 0 0 0 3,922
BOE/day * 9,587 9,372 0 0 0 9,815
Average Oil Price $ 22.24 $ 23.55 $ 0.00 $ 0.00 $ 0.00 $ 20.17
Average Gas Price $ 3.17 $ 3.03 $ 0.00 $ 0.00 $ 0.00 $ 2.88
Average BOE Price $ 22.04 $ 23.23 $ 0.00 $ 0.00 $ 0.00 $ 19.98
OPERATING REVENUES
Oil and gas production $ 6,550 $ 6,314 -- -- -- $ 47,248
--------- --------- --------- --------- --------- ------------
Total operating revenues 6,550 6,314 -- -- -- 47,248
--------- --------- --------- --------- --------- ------------
OPERATING EXPENSES
Oil and gas production 2,141 2,088 -- -- -- 16,792
Taxes on oil & gas production 395 328 -- -- -- 2,759
General & administrative 265 269 399 220 171 3,502
Depletion & depreciation 1,509 1,386 30 32 -- 12,076
Allowance for bad debt -- 94 -- -- -- 94
(Gain)Loss on derivatives 105 241 -- -- -- 3,148
--------- --------- --------- --------- --------- ------------
Total operating expenses 4,415 4,406 429 252 171 38,371
--------- --------- --------- --------- --------- ------------
OPERATING INCOME 2,135 1,908 (429) (252) (171) 8,877
OTHER INCOME & EXPENSES
Equity in income from subsidiaries -- -- (1) -- -- 195
Interest and other income -- 1 3 3 -- 32
Interest expense (1,440) (1,315) (59) -- 1,660 (10,394)
Standby loan prepayment fee -- -- -- -- -- 0
Reorganization costs (630) (3,907)(b) (130) 150 323 (58,723)
Litigation Settlement -- -- -- -- -- 2,832
Loss on sale of property and equipment -- (111,659) (79) 1 (280) (112,017)
--------- --------- --------- --------- --------- ------------
(2,070) (116,880) (266) 154 1,703 (178,075)
--------- --------- --------- --------- --------- ------------
EARNINGS (LOSS) BEFORE TAXES
AND EXTRAORDINARY ITEMS 65 (114,972) (695) (98) 1,532 (169,198)
--------- --------- --------- --------- --------- ------------
INCOME TAX EXPENSE (BENEFIT)
Current -- -- -- -- -- 0
Deferred -- -- -- -- -- 0
--------- --------- --------- --------- --------- ------------
0 0 0 0 0 0
--------- --------- --------- --------- --------- ---------
EARNINGS (LOSS) 65 (114,972) (695) (98) 1,532 (169,198)
--------- --------- --------- --------- --------- ---------
EXTRAORDINARY ITEMS
Gain on extinguishment on indebtedness -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
NET EARNINGS (LOSS) $ 65 $(114,972) $ (695) $ (98) $ 1,532 $(169,198)
========= ========= ========= ========= ========= =========
BASIC EARNINGS PER SHARE** $ 0.00 $ (6.14) $ (0.04) $ (0.01) $ 0.08 $ (9.04)
CASH FLOW FROM OPERATIONS $ 1,568 $ (2,435) $ (590) $ (64) $ 1,813 $ 11,169
CASH FLOW PER SHARE** $ 0.08 $ (0.13) $ (0.03) $ (0.00) $ 0.10 $ 0.60
(a) January 2002 is a prepetition period
(b) August 2002 reorganization expense includes employee and officer
severance payments of approximately $4.0 million.
* BOE means barrel of oil equivalent, assuming a ratio of 6 mcf to one
barrel
** Common shares 18,714 18,714 18,714 18,714 18,714 18,714
</Table>
COHO ENERGY CASE NO. 02-31189-HCA-11 PAGE 1
COHO ENERGY, INC. (CONSOLIDATED) MONTHLY OPERATING REPORT
GENERAL & ADMINISTRATIVE EXPENSE SUMMARY ACCRUAL BASIS -2
NOVEMBER 30, 2002 PAGE 2 OF 2
<Table>
<Caption>
FEBRUARY MARCH APRIL MAY JUNE
Salaries (a) $ 420 $ 424 $ 415 $ 416 $ 422
Employee Benefits (b) 226 157 107 153 203
Employee Related Costs (c) (19) 9 (5) (2) (6)
Office Related Costs (d) 98 101 104 95 93
Outside Services (e) 218 (25) 55 94 41
Miscellaneous (f) (0) 19 24 20 21
Insurance - general 35 35 35 35 35
Data Processing 10 5 12 3 1
Acquisition Costs (g) 12 12 0 0 0
Corporate Costs (h) 4 6 49 12 5
-------- -------- -------- -------- --------
Total Costs 1,004 742 795 825 817
Overhead Allocations (i) (236) (231) (247) (241) (248)
G&A Recoveries (j) (605) (611) (612) (603) (635)
Reclass recoveries to LOE (k) 327 326 320 323 325
-------- -------- -------- -------- --------
Net G&A Expense 490 227 256 304 258
Reorganization Costs 114 53,309 490 166 417
-------- -------- -------- -------- --------
Total G&A Related Costs $ 604 $ 53,536 $ 747 $ 470 $ 676
======== ======== ======== ======== ========
<Caption>
JULY AUGUST SEPTEMBER OCTOBER NOVEMBER
Salaries $ 422 $ 448 $ 118 $ 64 $ 60
Employee Benefits 152 173 57 24 20
Employee Related Costs 12 (12) 2 0 0
Office Related Costs 99 91 72 72 23
Outside Services 81 56 106 (4) 25
Miscellaneous 16 110 3 33 19
Insurance - general 22 22 32 26 21
Data Processing 3 1 1 3 0
Acquisition Costs 0 0 0 0 0
Corporate Costs 6 1 8 2 3
-------- -------- -------- -------- --------
Total Costs 812 889 399 220 171
Overhead Allocations (245) (237) 0 0 0
G&A Recoveries (634) (622) 0 0 0
Reclass recoveries to LOE 332 333 0 0 0
-------- -------- -------- -------- --------
Net G&A Expense 265 363 399 220 171
Reorganization Costs 630 3,907 130 (150) (323)
-------- -------- -------- -------- --------
Total G&A Related Costs $ 895 $ 4,270 $ 529 $ 70 ($ 152)
======== ======== ======== ======== ========
</Table>
Expenses included in the categories are as follows:
(a) Salaries
(b) Employee benefits and payroll taxes
(c) Conventions, seminars, travel, entertainment,
relocation, and automobiles.
(d) Office rent, office maintenance, telephones, office
supplies, subscriptions, and gifts.
(e) Accounting, legal and consulting fees and temporary
services.
(f) Fees, licenses, bank charges, franchise taxes,
property taxes and misc write-offs.
(g) Consulting fees and other incremental costs related
to acquisition reviews.
(h) Director fees and travel expenses, listing fees and
shareholder mailings.
(i) Primarily salaries & employee costs charged through
JIBs to LOE for capital work.
(j) COPAS billings to wells
(k) Reclass COPAS billings charged to LOE on operated
wells in excess of actual costs related to such
operations.
COHO ENERGY CASE NO. 02-31189-HCA-11
COHO ENERGY, INC.
BANKRUPTCY CONSOLIDATION MONTHLY OPERATING REPORT
STATEMENTS OF CASH FLOW ACCRUAL BASIS - 3
NOVEMBER 30, 2002
<Table>
<Caption>
JAN(a) FEB MARCH APRIL MAY JUNE
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM OPERATIONS
Net earnings (loss) $ (2,556) $ (20,160) $ (36,931) $ 406 $ 939 $ 3,272
--------- --------- --------- --------- --------- ---------
Adjustments to reconcile net earnings (loss)
to net cash provided by operating activities:
Equity in loss of subsidiaries -- (200) -- -- -- 4
Depletion and depreciation 1,519 1,455 1,539 1,484 1,617 1,505
Sale of property and equipment -- -- -- -- -- --
Standby loan interest 1,330 224 -- 26 -- --
Standby loan prepayment fee -- 29,344 -- -- -- --
Gain on standby loan embedded derivative -- (10,232) -- -- -- --
Write off of debt issuance costs -- -- 22,583 -- -- --
Write off of debt discount -- -- 10,744 -- -- --
Loss on derivatives -- -- 2,525 -- -- (266)
Other items 553 130 37 (5) (5) (4)
--------- --------- --------- --------- --------- ---------
Cash Flow from Opers before W/C Changes 846 561 497 1,911 2,551 4,511
Changes in operating assets and liabilities:
Accounts receivable and other assets 295 317 (844) (560) (892) (2,323)
Cash in escrow -- -- -- (1) -- --
Accounts payable, principally trade (619) 1,229 1,070 212 (151) 1,210
Accounts pay and other accr liabs -- 1,137 1,048 (329) (169) (66)
Accrued interest -- (1,486) 353 320 (76) 318
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by operating activities 522 1,758 2,124 1,553 1,263 3,650
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM INVESTING
Property and equipment (974) (759) (673) (1,056) (1,084) (1,031)
Changes in accts pay and accrued liabilities
related to exploration and development 98 (304) 181 317 209 (243)
Advances to unconsolidated subsidiaries -- (13) -- 1 1 --
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by investing activities (876) (1,076) (492) (738) (874) (1,274)
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM FINANCING
Proceeds from sale of property and equipment -- -- -- -- -- --
Repayment of long term debt (1,057) -- -- (224) -- (1,094)
Debt issuance costs -- -- -- -- -- --
Debt extinguishment costs -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by financing activities (1,057) 0 0 (224) 0 (1,094)
--------- --------- --------- --------- --------- ---------
NET INCREASE (DECREASE) IN CASH (1,411) 682 1,632 591 389 1,282
CASH AND CASH EQUIVS-BEGINNING 9,752 8,341 9,023 10,655 11,246 11,635
--------- --------- --------- --------- --------- ---------
CASH AND CASH EQUIVS-ENDING $ 8,341 $ 9,023 $ 10,655 $ 11,246 $ 11,635 $ 12,917
========= ========= ========= ========= ========= =========
<Caption>
JULY AUGUST SEPT OCT NOV YTD
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM OPERATIONS
Net earnings (loss) $ 65 $(114,972) $ (695) $ (98) $ 1,532 $(169,198)
Adjustments to reconcile net earnings (loss)
to net cash provided by operating activities:
Equity in loss of subsidiaries -- -- 1 -- -- ($ 195)
Depletion and depreciation 1,509 1,386 30 32 -- $ 12,076
Sale of property and equipment -- 111,159 79 (1) 280 $ 111,517
Standby loan interest -- -- -- -- -- $ 1,580
Standby loan prepayment fee -- -- -- -- -- $ 29,344
Gain on standby loan embedded derivative -- -- -- -- -- ($ 10,232)
Write off of debt issuance costs -- -- -- -- -- $ 22,583
Write off of debt discount -- -- -- -- -- $ 10,744
Loss on derivatives -- -- -- -- -- $ 2,259
Other items (6) (8) (5) 3 2 $ 692
--------- --------- --------- --------- --------- ---------
Cash Flow from Opers before W/C Changes 1,568 (2,435) (590) (64) 1,814 11,170
Changes in operating assets and liabilities:
Accounts receivable and other assets (691) 664 308 141 126 (3,459)
Cash in escrow -- (48,951) 20,837 1,849 -- (26,266)
Accounts payable, principally trade 39 (1,373) (55) (393) (71) 1,098
Accounts pay and other accr liabs (105) 4,013 (4,747) (2,061) (609) (1,888)
Accrued interest 1,439 205 (1,037) -- (1,606) (1,570)
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by operating activities 2,250 (47,877) 14,716 (528) (346) (20,915)
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM INVESTING
Property and equipment (907) (708) -- (2) (5) (7,199)
Changes in accts pay and accrued liabilities
related to exploration and development (259) (206) -- -- -- (207)
Advances to unconsolidated subsidiaries -- (2) (1) (1) -- (15)
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by investing activities (1,166) (916) (1) (3) (5) (7,421)
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM FINANCING
Proceeds from sale of property and equipment -- 221,351 -- -- 103 221,454
Repayment of long term debt -- (172,880) (20,802) -- -- (196,057)
Debt issuance costs -- -- -- -- -- 0
Debt extinguishment costs -- -- -- -- -- 0
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by financing activities 0 48,471 (20,802) 0 103 25,397
--------- --------- --------- --------- --------- ---------
NET INCREASE (DECREASE) IN CASH 1,084 (322) (6,087) (531) (248) (2,939)
CASH AND CASH EQUIVS-BEGINNING 12,917 14,001 13,679 7,592 7,061 9,752
--------- --------- --------- --------- --------- ---------
CASH AND CASH EQUIVS-ENDING $ 14,001 $ 13,679 $ 7,592 $ 7,061 $ 6,813 $ 6,813
========= ========= ========= ========= ========= =========
</Table>
(a) JANUARY 2002 IS A PREPETITION PERIOD
COHO ENERGY CASE NO. 02-31189-HCA-11
COHO ENERGY, INC. AND SUBSIDIARIES MONTHLY OPERATING REPORT
BANKRUPTCY CONSOLIDATION ACCRUAL BASIS - 4
(IN 000S, EXCEPT RATIOS) PAGE 1 OF 2
ACCOUNTS RECEIVABLE ANALYSIS
<Table>
<Caption>
SOFA FEB 02 MARCH 02 APRIL 02 MAY 02
-------- -------- -------- -------- --------
JIB RECEIVABLES
0 - 30 days $ 1,101 $ 956 $ 525 $ 1,089 $ 642
31 - 60 days 79 80 589 (3) 643
61 - 90 days 29 39 43 214 (0)
Over 90 days 951 936 853 831 836
-------- -------- -------- -------- --------
Total Accounts Receivable $ 2,161 $ 2,011 $ 2,010 $ 2,132 $ 2,121
======== ======== ======== ======== ========
SUMMARY OF RECEIVABLES
Accrued revenue $ 5,428 $ 5,465 $ 6,533 $ 6,873 $ 7,826
JIB receivables 2,161 2,011 2,010 2,132 2,121
Employee/officer receivables 1 1 1 2 0
Other receivables 375 224 61 264 262
-------- -------- -------- -------- --------
Total receivables 7,965 7,701 8,605 9,271 10,208
Allowance for doubtful accts (470) (470) (470) (470) (470)
-------- -------- -------- -------- --------
Receivables net of allowance $ 7,495 $ 7,231 $ 8,135 $ 8,801 $ 9,738
======== ======== ======== ======== ========
<Caption>
JUNE 02 JULY 02 AUG 02 SEPT 02 OCT 02 NOV 02
-------- -------- -------- -------- -------- --------
JIB RECEIVABLES
0 - 30 days $ 1,181 $ 1,593 $ 101 $ 0 $ 0 $ 0
31 - 60 days 25 147 (22) 30 0 0
61 - 90 days 245 1 245 0 2 0
Over 90 days 790 872 412 423 338 283
-------- -------- -------- -------- -------- --------
Total Accounts Receivable $ 2,242 $ 2,613 $ 736 $ 453 $ 340 $ 283
======== ======== ======== ======== ======== ========
SUMMARY OF RECEIVABLES
Accrued revenue $ 7,231 $ 7,288 $ 268 $ 222 $ 216 $ 171
JIB receivables 2,242 2,613 736 453 340 283
Employee/officer receivables 4 0 (1) (1) (1) (1)
Other receivables 3,101 3,112 3,135 3,125 3,065 3,064
-------- -------- -------- -------- -------- --------
Total receivables 12,578 13,014 4,138 3,799 3,620 3,517
Allowance for doubtful accts (470) (470) (289) (305) (247) (249)
-------- -------- -------- -------- -------- --------
Receivables net of allowance $ 12,108 $ 12,544 $ 3,849 $ 3,494 $ 3,373 $ 3,268
======== ======== ======== ======== ======== ========
</Table>
COHO ENERGY CASE NO. 02-31189-HCA-11
COHO ENERGY, INC. AND SUBSIDIARIES MONTHLY OPERATING REPORT
BANKRUPTCY CONSOLIDATION ACCRUAL BASIS - 4
(IN 000S, EXCEPT RATIOS) PAGE 2 OF 2
ACCOUNTS PAYABLE ANALYSIS
<Table>
<Caption>
Feb 02 March April May June
ACCOUNTS PAYABLE
0 - 30 days $ 232 $ 431 $ 519 $ 300 $ 1,439
31 - 60 days 0 21 23 5 5
Over 60 days 0 0 7 30 30
--------- --------- --------- --------- ---------
232 453 550 334 1,475
Prepetition 2,618 3,700 3,744 3,728 3,667
--------- --------- --------- --------- ---------
Total Accounts Payable $ 2,851 $ 4,152 $ 4,294 $ 4,063 $ 5,142
========= ========= ========= ========= =========
INCOMETAXES PAYABLE
PREPETITION
Federal income $ 0 $ 0 $ 0 $ 0 $ 0
State income 0 0 0 0 0
--------- --------- --------- --------- ---------
Total Taxes Payable $ 0 $ 0 $ 0 $ 0 $ 0
========= ========= ========= ========= =========
SUMMARY OF LIABILITIES
POSTPETITION
Accrued interest $ 681 $ 1,034 $ 1,354 $ 1,278 $ 1,596
--------- --------- --------- --------- ---------
$ 681 $ 1,034 $ 1,354 $ 1,278 $ 1,596
--------- --------- --------- --------- ---------
Accounts payable $ 232 $ 453 $ 550 $ 334 $ 1,475
Miscellaneous payables 0 3 2 2 (1)
Revenues payable 252 269 322 406 599
A/P sales & use tax 1 3 0 1 2
--------- --------- --------- --------- ---------
A/P Trade $ 485 $ 728 $ 874 $ 744 $ 2,075
--------- --------- --------- --------- ---------
Accrued reorganization costs $ 129 $ 887 $ 1,121 $ 1,347 $ 1,279
Accrued operating costs 1,314 1,738 1,708 1,565 1,542
Accrued drilling costs 556 719 1,140 1,370 1,126
Accrued franchise taxes 14 30 47 64 80
Accrued environmental 50 50 50 50 50
Other accrued liabilities 495 1,236 336 302 305
--------- --------- --------- --------- ---------
Accrued liabilities and other $ 2,559 $ 4,661 $ 4,402 $ 4,697 $ 4,383
--------- --------- --------- --------- ---------
Accrued unrealized derivatives $ 165 $ 506 $ 506 $ 506 $ 834
--------- --------- --------- --------- ---------
$ 165 $ 506 $ 506 $ 506 $ 834
--------- --------- --------- --------- ---------
Total Postpetition $ 3,890 $ 6,929 $ 7,136 $ 7,225 $ 8,888
--------- --------- --------- --------- ---------
PREPETITITION
Income taxes payable $ 0 $ 0 $ 0 $ 0 $ 0
Accounts payable 2,618 3,700 3,744 3,728 3,667
Miscellaneous payables 8 8 8 8 8
Revenues payable 2,301 2,046 2,068 2,062 2,003
A/P sales & use tax 1 1 1 1 1
--------- --------- --------- --------- ---------
A/P Trade $ 4,928 $ 5,755 $ 5,821 $ 5,800 $ 5,679
--------- --------- --------- --------- ---------
Accrued LA penalties & int $ 0 $ 0 $ 0 $ 0 $ 0
Accrued operating costs 594 33 5 0 0
Accrued drilling costs 432 125 22 0 0
Accrued franchise taxes 190 190 190 190 190
Accrued vacation 105 105 105 105 105
Accrued contract obligations 0 0 0 0 0
Accrued sale tax due Amoco 0 0 0 0 0
Accrued environmental costs 175 175 175 175 175
Other accrued liabilities 90 80 451 217 218
--------- --------- --------- --------- ---------
Accrued liabilities and other 1,588 709 949 687 688
--------- --------- --------- --------- ---------
Total prepetition 6,516 6,464 6,770 6,487 6,368
--------- --------- --------- --------- ---------
Total liabilities $ 10,406 $ 13,393 $ 13,906 $ 13,712 $ 15,255
========= ========= ========= ========= =========
LONG TERM DEBT
Chase revolving credit facility $ 195,000 $ 195,000 $ 194,776 $ 194,776 $ 193,682
Standby loan $ 82,707 $ 93,451 $ 93,451 $ 93,451 $ 93,451
Standby accrued interest $ 4,984 $ 4,984 $ 5,010 $ 5,010 $ 5,010
Standby prepayment fee $ 29,344 $ 29,344 $ 29,344 $ 29,344 $ 29,344
Derivative liablility $ 1,538 $ 1,538 $ 1,538 $ 1,538 $ 1,538
State tax notes and other $ 3,361 $ 3,361 $ 3,361 $ 3,361 $ 3,361
Reclass to current $(316,934) $(327,679) $(327,482) $(327,482) $(326,388)
--------- --------- --------- --------- ---------
Total Long Term Debt $ 0 $ 0 $ 0 $ 0 $ 0
========= ========= ========= ========= =========
<Caption>
July Aug Sep Oct Nov
ACCOUNTS PAYABLE
0 - 30 days $ 1,175 $ 191 $ 454 $ 53 $ 10
31 - 60 days 102 1 0 55
Over 60 days 356 37 30 71 91
--------- --------- --------- --------- ----------
1,633 228 485 179 101
Prepetition 3,616 3,603 3,603 3,603 3,609
--------- --------- --------- --------- ----------
Total Accounts Payable $ 5,249 $ 3,831 $ 4,088 $ 3,782 $ 3,710
--------- --------- --------- --------- ----------
INCOMETAXES PAYABLE
PREPETITION
Federal income $ 0 $ 0 $ 0 $ 0 $ 0
State income 0 0 0 0 0
--------- --------- --------- --------- ----------
Total Taxes Payable $ 0 $ 0 $ 0 $ 0 $ 0
========= ========= ========= ========= =========
SUMMARY OF LIABILITIES
POSTPETITION
Accrued interest $ 3,035 $ 3,240 $ 2,203 $ 2,203 $ 597
--------- --------- --------- --------- ----------
$ 3,035 $ 3,240 $ 2,203 $ 2,203 $ 597
--------- --------- --------- --------- ----------
Accounts payable $ 1,633 $ 228 $ 485 $ 179 $ 101
Miscellaneous payables (1) 2 1 1 0
Revenues payable 543 376 66 17 18
A/P sales & use tax 1 2 1
--------- --------- --------- --------- ----------
A/P Trade $ 2,176 $ 608 $ 553 $ 197 $ 119
--------- --------- --------- --------- ----------
Accrued reorganization costs $ 1,293 $ 5,071 $ 1,048 $ 767 $ 274
Accrued operating costs 1,326
Accrued drilling costs 868
Accrued franchise taxes 95 110 110 140 155
Accrued environmental 50 15 15 15 15
Other accrued liabilities 381 2,666 2,017 210 207
--------- --------- --------- --------- ----------
Accrued liabilities and other $ 4,013 $ 7,863 $ 3,191 $ 1,133 $ 651
--------- --------- --------- --------- ----------
Accrued unrealized derivatives $ 834
--------- --------- --------- --------- ----------
$ 834
--------- --------- --------- --------- ----------
Total Postpetition $ 10,058 $ 11,711 $ 5,947 $ 3,533 $ 1,367
--------- --------- --------- --------- ----------
PREPETITITION
Income taxes payable $ 0 $ 0 $ 0 $ 0 $ 0
Accounts payable 3,616 3,603 3,603 3,603 3,609
Miscellaneous payables 8 (0)
Revenues payable 1,992 1,003 1,003 967 967
A/P sales & use tax 1 1 1 1 2
--------- --------- --------- --------- ----------
A/P Trade $ 5,617 $ 4,608 $ 4,608 $ 4,571 $ 4,578
--------- --------- --------- --------- ----------
Accrued LA penalties & int $ 0 $ 0 $ 0 $ 0 $ 0
Accrued operating costs 0 0 0 0 0
Accrued drilling costs 0 0 0 0 0
Accrued franchise taxes 190 190 190 190 190
Accrued vacation 105
Accrued contract obligations 0 0 0 0 0
Accrued sale tax due Amoco 0 0 0 0 0
Accrued environmental costs 175 175 175 175 175
Other accrued liabilities 218 238 238 238 113
--------- --------- --------- --------- ----------
Accrued liabilities and other 688 603 603 603 478
--------- --------- --------- --------- ----------
Total prepetition 6,305 5,211 5,211 5,174 5,056
--------- --------- --------- --------- ----------
Total liabilities $ 16,363 $ 16,922 $ 11,158 $ 8,707 $ 6,423
========= ========= ========= ========= ==========
LONG TERM DEBT
Chase revolving credit facility $ 193,682 $ 20,802 $ 0 $ 0 $ 0
Standby loan $ 93,451 $ 93,451 $ 93,451 $ 93,451 $ 93,451
Standby accrued interest $ 5,010 $ 5,010 $ 5,010 $ 5,010 $ 5,010
Standby prepayment fee $ 29,344 $ 29,344 $ 29,344 $ 29,344 $ 29,344
Derivative liablility $ 1,538 $ 1,538 $ 1,538 $ 1,538 $ 1,538
State tax notes and other $ 3,361 $ 3,361 $ 3,361 $ 3,361 $ 3,361
Reclass to current $(326,388) $(153,508) $(132,705) $(132,705) $ (132,705)
--------- --------- --------- --------- ----------
Total Long Term Debt $ 0 $ 0 $ 0 $ 0 $ 0
========= ========= ========= ========= ==========
</Table>
COHO ENERGY CASE NO. 02-31189-HCA-11