1
EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF TEXAS
CORPUS CHRISTI DIVISION
CASE NAME: TRANSAMERICAN REFINING CORPORATION PETITION DATE: APRIL 20, 1999
CASE NUMBER: 99-21552-C-11
MONTHLY OPERATING REPORT SUMMARY FOR MONTH SEPTEMBER YEAR 1999
==========================================================================================================================
MONTH 5/99 6/99 7/99 8/99 9/99
- --------------------------------------------------------------------------------------------------------------------------
REVENUES (MOR-6) -- -- -- -- --
- --------------------------------------------------------------------------------------------------------------------------
INCOME BEFORE INT, DEPREC./TAX (MOR-6) (458,319) (283,678) (267,080) 56,183 (26,283)
- --------------------------------------------------------------------------------------------------------------------------
NET INCOME (LOSS) (MOR-6) (16,353,751) (12,496,551) (12,995,254) 19,727,662 40,558
- --------------------------------------------------------------------------------------------------------------------------
PAYMENTS TO INSIDERS (MOR-9) -- -- -- -- --
- --------------------------------------------------------------------------------------------------------------------------
PAYMENTS TO PROFESSIONALS (MOR-9) -- -- 9,499 9,524 826
- --------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS (MOR-8) 8,014 43,467 20,673 (3,628) (4,218)
==========================================================================================================================
***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: 0
---
- -------------------------------------------------------
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? Second Amended Plan filed
September 29, 1999; First Amended Disclosure Statement filed September 29, 1999.
Confirmation hearing set for November 9, 1999.
- --------------------------------------------------------------------------------
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 REFINING CORPORATION CASE NUMBER: 99-21552-C-11
COMPARATIVE BALANCE SHEETS
====================================================================================================================================
FILING DATE* MONTH MONTH MONTH MONTH MONTH
ASSETS 4/20/99 5/99 6/99 7/99 8/99 9/99
- ------------------------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS
- ------------------------------------------------------------------------------------------------------------------------------------
CASH 16,207,124 16,122,286 16,141,516 16,182,573 16,275,810 16,338,433
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE, NET 335,785 335,785 335,785 335,785 168,428 168,428
- ------------------------------------------------------------------------------------------------------------------------------------
INVENTORY: LOWER OF COST OR MARKET -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
PREPAID EXPENSES 768,722 456,667 228,334 -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
INVESTMENTS -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
OTHER -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL CURRENT ASSETS 17,311,631 16,914,738 16,705,635 16,518,358 16,444,238 16,506,861
====================================================================================================================================
PROPERTY, PLANT&EQUIP, @ COST -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
LESS ACCUMULATED DEPRECIATION -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
NET BOOK VALUE OF PP & E -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS:
- ------------------------------------------------------------------------------------------------------------------------------------
1. TAX DEPOSITS -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
2. INVESTMENTS IN SUBS 1,112,871,975 1,112,871,975 1,112,871,975 1,112,871,975 1,112,871,975 1,112,871,975
- ------------------------------------------------------------------------------------------------------------------------------------
3. DUE FROM AFFILIATES 2,782,795 2,782,795 2,782,795 2,789,013 2,953,450 2,956,059
- ------------------------------------------------------------------------------------------------------------------------------------
4. DEFERRED DEBT COSTS (1) 25,743,676 25,309,646 24,876,775 24,353,538 25,150,854 25,150,854
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS 1,158,710,077 1,157,879,154 1,157,237,180 1,156,532,884 1,157,420,517 1,157,485,749
====================================================================================================================================
*Per Schedules and Statement of Affairs
MOR-2
3
CASE NAME: TRANSAMERICAN REFINING CORPORATION CASE NUMBER: 99-21552-C-11
COMPARATIVE BALANCE SHEETS
=================================================================================================================================
LIABILITIES & OWNER'S FILING DATE* MONTH MONTH MONTH MONTH MONTH
EQUITY 4/20/99 5/99 6/99 7/99 8/99 9/99
- ---------------------------------------------------------------------------------------------------------------------------------
LIABILITIES:
- ---------------------------------------------------------------------------------------------------------------------------------
POST-PETITION LIABILITIES (MOR-4) -- -- 6,554,009 18,845,057 5,028 29,702
- ---------------------------------------------------------------------------------------------------------------------------------
PRE-PETITION LIABILITIES:
- ---------------------------------------------------------------------------------------------------------------------------------
Notes Payable-Secured (2) 899,176,694 914,699,522 920,000,000 920,000,000 920,000,000 920,000,000
- ---------------------------------------------------------------------------------------------------------------------------------
Priority Debt -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------------
Federal Income Tax -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------------
FICA/Withholding -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------------
Unsecured Debt (3) 192,867,039 192,867,039 192,867,039 192,867,039 192,867,039 192,867,039
- ---------------------------------------------------------------------------------------------------------------------------------
Other 17,504,403 17,504,403 17,504,403 17,504,403 17,504,403 17,504,403
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL PRE-PETITION LIABILITIES 1,109,548,136 1,125,070,964 1,130,371,442 1,130,371,442 1,130,371,442 1,130,371,442
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES 1,109,548,136 1,125,070,964 1,136,925,541 1,149,216,49 1,130,376,470 1,130,401,144
=================================================================================================================================
OWNER'S EQUITY (DEFICIT):
- ---------------------------------------------------------------------------------------------------------------------------------
PREFERRED STOCK -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------------
COMMON STOCK 300,000 300,000 300,000 300,000 300,000 300,000
- ---------------------------------------------------------------------------------------------------------------------------------
ADDITIONAL PAID-IN CAPITAL 597,023,521 597,023,521 597,023,521 597,023,521 597,023,521 597,023,521
- ---------------------------------------------------------------------------------------------------------------------------------
RETAINED EARNINGS: Filing Date (548,161,580) (548,161,580) (548,161,580) (548,161,580) (548,161,580 (548,161,580)
- ---------------------------------------------------------------------------------------------------------------------------------
RETAINED EARNINGS: Post Filing Date -- (16,353,751) (28,850,302) (41,845,556) (22,117,894 (22,077,336)
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL OWNER'S EQUITY (NET WORTH) 49,161,941 32,808,190 20,311,639 7,316,385 27,044,047 27,084,605
=================================================================================================================================
TOTAL LIABILITIES & OWNER'S EQUITY 1,158,710,077 1,157,879,154 1,157,237,180 1,156,532,884 1,157,420,517 1,157,485,749
=================================================================================================================================
*Per Schedules and Statement of Affairs
MOR-3
4
CASE NAME: TRANSAMERICAN REFINING CORPORATION CASE NUMBER: 99-21552-C-11
SCHEDULE OF POST-PETITION LIABILITIES
MONTH MONTH MONTH MONTH MONTH
5/99 6/99 7/99 8/99 9/99
- ------------------------------------------------------------------------------------------------------------
TRADE ACCOUNTS PAYABLE -- 11,877 36,168 5,028 29,702
- ------------------------------------------------------------------------------------------------------------
TAX PAYABLE:
- ------------------------------------------------------------------------------------------------------------
FEDERAL PAYROLL TAXES -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
STATE PAYROLL & SALES -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
AD VALOREM TAXES -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
OTHER TAXES -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
TOTAL TAXES PAYABLE -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
SECURED DEBT POST-PETITION -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
ACCRUED INTEREST PAYABLE(2) -- 6,542,222 18,808,889 -- --
- ------------------------------------------------------------------------------------------------------------
*ACCRUED PROFESSIONAL FEES: -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
OTHER ACCRUED LIABILITIES:
- ------------------------------------------------------------------------------------------------------------
1. -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
2. -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
3. -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
TOTAL POST-PETITION LIABILITIES (MOR-3) -- 6,554,099 18,845,057 5,028 29,702
============================================================================================================
*PAYMENT REQUIRES COURT APPROVAL.
MOR-4
5
CASE NAME: TRANSAMERICAN REFINING CORPORATION CASE NUMBER: 99-21552-C-11
AGING OF POST-PETITION LIABILITIES
MONTH OF SEPTEMBER 1999
===================================================================================================
DAYS TOTAL TRADE ACCTS FED TAXES STATE TAXES AD-VALOREM, OTHER
OTHER TAXES
===================================================================================================
0-30 24,674 24,674
- ---------------------------------------------------------------------------------------------------
31-60 5,028 5,028
- ---------------------------------------------------------------------------------------------------
61-90 -- --
- ---------------------------------------------------------------------------------------------------
91+ -- --
- ---------------------------------------------------------------------------------------------------
TOTAL 29,702 29,702
===================================================================================================
AGING OF ACCOUNTS RECEIVABLE
============================================================================================================
MONTH 5/99 6/99 7/99 8/99 9/99
============================================================================================================
0-30 DAYS -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------
31-60 DAYS 335,785 -- -- -- --
- ------------------------------------------------------------------------------------------------------------
61-90 DAYS -- 335,785 -- -- --
- ------------------------------------------------------------------------------------------------------------
91+ DAYS -- -- 335,785 168,428 168,428
- ------------------------------------------------------------------------------------------------------------
TOTAL 335,785 335,785 335,785 168,428 168,428
============================================================================================================
MOR-5
6
CASE NAME: TRANSAMERICAN REFINING CORPORATION CASE NUMBER: 99-21552-C-11
STATEMENT OF INCOME (LOSS)
===========================================================================================================================
MONTH 4/20/99 - FILING TO DATE
5/31/99 6/99 7/99 8/99 9/99
===========================================================================================================================
REVENUES (MOR-1) -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL COST OF REVENUES -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
GROSS PROFIT -- -- -- -- -- --
===========================================================================================================================
OPERATING EXPENSES:
- ---------------------------------------------------------------------------------------------------------------------------
Selling & Marketing -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
General & Administrative 138,263 55,095 29,247 (65,752) 25,457 182,310
- ---------------------------------------------------------------------------------------------------------------------------
Insiders Compensation -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Professional Fees 8,000 -- 9,499 9,524 826 27,849
- ---------------------------------------------------------------------------------------------------------------------------
Other (attach list) -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
Franchise Taxes 312,056 228,583 228,334 45 -- 769,018
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL OPERATING EXPENSES 458,319 283,678 267,080 (56,183) 26,283 979,177
===========================================================================================================================
INCOME BEFORE INT, DEPR/TAX (MOR-1) (458,319) (283,678) (267,080) 56,183 (26,283) (979,177)
- ---------------------------------------------------------------------------------------------------------------------------
INTEREST EXPENSE(2) 15,956,858 12,275,570 12,789,904 (19,606,205) -- 21,416,127
- ---------------------------------------------------------------------------------------------------------------------------
DEPRECIATION -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
OTHER (INCOME) EXPENSE* - INTEREST (61,426) (62,697) (61,730) (65,274) (66,841) (317,968)
- ---------------------------------------------------------------------------------------------------------------------------
OTHER ITEMS** -- -- -- -- -- --
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL INT, DEPR & OTHER ITEMS 15,895,432 12,212,873 12,728,174 (19,671,479) (66,841) 21,098,159
===========================================================================================================================
NET INCOME BEFORE TAXES (16,353,751) (12,496,551) (12,995,254) 19,727,662 40,558 (22,077,336)
- ---------------------------------------------------------------------------------------------------------------------------
FEDERAL INCOME TAXES -- -- -- -- -- --
===========================================================================================================================
NET INCOME (LOSS) (MOR-1) (16,353,751) (12,496,551) (12,995,254) 19,727,662 40,558 (22,077,336)
===========================================================================================================================
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 REFINING CORPORATION CASE NUMBER: 99-21552-C-11
====================================================================================================================================
CASH RECEIPTS AND DISBURSEMENTS MONTH MONTH MONTH MONTH MONTH FILING TO
5/99 6/99 7/99 8/99 9/99 DATE
- ------------------------------------------------------------------------------------------------------------------------------------
1. CASH - BEGINNING OF MONTH 16,207,123 16,122,286 16,141,516 16,182,573 16,275,810 16,207,123
====================================================================================================================================
RECEIPTS:
- ------------------------------------------------------------------------------------------------------------------------------------
2. CASH SALES -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
3. COLLECTION OF ACCOUNTS RECEIVABLE -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
4. LOANS & ADVANCES (TRANSAMERICAN ENERGY) -- -- -- 24,335 -- 24,335
- ------------------------------------------------------------------------------------------------------------------------------------
5. SALE OF ASSETS -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
6. OTHER (ATTACH LIST) - INTEREST INCOME 61,546 62,697 61,730 65,274 66,841 318,088
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL RECEIPTS 61,546 62,697 61,730 89,609 66,841 342,423
- ------------------------------------------------------------------------------------------------------------------------------------
(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 14 43,467 10,674 (13,152) 3,392 44,395
- ------------------------------------------------------------------------------------------------------------------------------------
18. OTHER (ATTACH LIST) - RECONCILING ITEMS 138,369 -- -- -- -- 138,369
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS FROM OPERATIONS 138,383 43,467 10,674 (13,152) 3,392 182,764
====================================================================================================================================
19. PROFESSIONAL FEES 8,000 -- 9,499 9,524 826 27,849
- ------------------------------------------------------------------------------------------------------------------------------------
20. U.S. TRUSTEE FEES -- -- 500 -- -- 500
- ------------------------------------------------------------------------------------------------------------------------------------
21. OTHER REORGANIZATION EXPENSES (ATTACH LIST) -- -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS 8,000 43,467 20,673 (3,628) 4,218 211,113
====================================================================================================================================
22. NET CASH FLOW (84,837) 19,230 41,057 93,237 62,623 131,310
- ------------------------------------------------------------------------------------------------------------------------------------
23. CASH - END OF MONTH (MOR-2) 16,122,286 16,141,516 16,182,573 16,275,810 16,338,433 16,338,433
====================================================================================================================================
*Applies to Individual debtors only.
MOR-7
8
CASE NAME: TRANSAMERICAN REFINING CORPORATION
CASE NUMBER: 99-21552-C-11
CASH ACCOUNT RECONCILIATION
MONTH OF SEPTEMBER 1999
====================================================================================================================================
BANK NAME Firstar Firstar Firstar First Union
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT NUMBER 21-00-002-5031303 21-00-002-5031305 21-00-002-5031307 9572000081
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT TYPE Feedstock Disbursement Interest Accumulation Warrant Fractions Total This Page
- ------------------------------------------------------------------------------------------------------------------------------------
BANK BALANCE 1 -- 32 5,473 5,506
- ------------------------------------------------------------------------------------------------------------------------------------
DEPOSIT IN TRANSIT -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
OUTSTANDING CHECKS -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
ADJUSTED BANK BALANCE 1 -- 32 5,473 5,506
====================================================================================================================================
BEGINNING CASH - PER BOOKS 1 -- 32 5,451 5,484
- ------------------------------------------------------------------------------------------------------------------------------------
RECEIPTS -- -- -- 22 22
- ------------------------------------------------------------------------------------------------------------------------------------
TRANSFERS BETWEEN ACCOUNTS -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
(WITHDRAWAL) CONTRIBUTION BY
INDIVIDUAL DEBTOR MFR-2 -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
CHECKS/OTHER DISBURSEMENTS -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
ENDING CASH - PER BOOKS 1 -- 32 5,473 5,506
====================================================================================================================================
MOR-8A
9
CASE NAME: TRANSAMERICAN REFINING CORPORATION
CASE NUMBER: 99-21552-C-11
CASH ACCOUNT RECONCILIATION
MONTH OF SEPTEMBER 1999
====================================================================================================================================
BANK NAME First Union First Union First Union First Union
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT NUMBER 9572831237 9572831479 9576000402 9576000411
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT TYPE Escrowed Interest Escrowed Interest Collateral Defeasance Trust Total This Page
- ------------------------------------------------------------------------------------------------------------------------------------
BANK BALANCE 14,287,609 2,039,834 29 428 16,327,900
- ------------------------------------------------------------------------------------------------------------------------------------
DEPOSIT IN TRANSIT -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
OUTSTANDING CHECKS -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
ADJUSTED BANK BALANCE 14,287,609 2,039,834 29 428 16,327,900
====================================================================================================================================
BEGINNING CASH - PER BOOKS 14,229,488 2,031,450 29 428 16,261,395
- ------------------------------------------------------------------------------------------------------------------------------------
RECEIPTS 58,121 8,384 -- -- 66,505
- ------------------------------------------------------------------------------------------------------------------------------------
TRANSFERS BETWEEN ACCOUNTS -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
(WITHDRAWAL) CONTRIBUTION BY
INDIVIDUAL DEBTOR MFR-2 -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
CHECKS/OTHER DISBURSEMENTS -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
ENDING CASH - PER BOOKS 14,287,609 2,039,834 29 428 16,327,900
====================================================================================================================================
MOR-8B
10
CASE NAME: TRANSAMERICAN REFINING CORPORATION
CASE NUMBER: 99-21552-C-11
CASH ACCOUNT RECONCILIATION
MONTH OF SEPTEMBER 1999
====================================================================================================================================
BANK NAME First Union First Union Fleet Fleet
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT NUMBER 9576000395 9576830694 0001665170 007697-5341
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT TYPE Defeasance Trust Collateral Money Market Operating Total This Page
- ------------------------------------------------------------------------------------------------------------------------------------
BANK BALANCE 21,766 3,815 27,447 -- 53,028
- ------------------------------------------------------------------------------------------------------------------------------------
DEPOSIT IN TRANSIT -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
OUTSTANDING CHECKS -- -- -- (138,652) (138,652)
- ------------------------------------------------------------------------------------------------------------------------------------
ADJUSTED BANK BALANCE 21,766 3,815 27,447 (138,652) (85,624)
====================================================================================================================================
BEGINNING CASH - PER BOOKS 21,676 3,800 27,336 (149,705) (96,893)
- ------------------------------------------------------------------------------------------------------------------------------------
RECEIPTS 90 15 111 -- 216
- ------------------------------------------------------------------------------------------------------------------------------------
TRANSFERS BETWEEN ACCOUNTS -- -- -- 14,488 14,488
- ------------------------------------------------------------------------------------------------------------------------------------
(WITHDRAWAL) CONTRIBUTION BY INDIVIDUAL DEBTOR
MFR-2 -- -- -- -- --
- ------------------------------------------------------------------------------------------------------------------------------------
CHECKS/OTHER DISBURSEMENTS -- -- -- (3,435) (3,435)
- ------------------------------------------------------------------------------------------------------------------------------------
ENDING CASH - PER BOOKS 21,766 3,815 27,447 (138,652) (85,624)
====================================================================================================================================
MOR-8C
11
CASE NAME: TRANSAMERICAN REFINING CORPORATION
CASE NUMBER: 99-21552-C-11
CASH ACCOUNT RECONCILIATION
MONTH OF SEPTEMBER 1999
====================================================================================================================================
BANK NAME Fleet Fleet Fleet Hibernia
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT NUMBER 935728-5230 936480-8298 941584-6439 9001112341
- ------------------------------------------------------------------------------------------------------------------------------------
ACCOUNT TYPE Master Savings Product Imprest Total This Page
- ------------------------------------------------------------------------------------------------------------------------------------
BANK BALANCE 40,032 51,774 -- -- 91,806
- ----------------------------------------------------------------------------------------------------------------------------------
DEPOSIT IN TRANSIT -- -- -- -- --
- ----------------------------------------------------------------------------------------------------------------------------------
OUTSTANDING CHECKS -- -- -- (910) (910)
- ----------------------------------------------------------------------------------------------------------------------------------
ADJUSTED BANK BALANCE 40,032 51,774 -- (910) 90,896
==================================================================================================================================
BEGINNING CASH - PER BOOKS 55,303 51,676 -- (910) 106,069
- ----------------------------------------------------------------------------------------------------------------------------------
RECEIPTS -- 98 -- -- 98
- ----------------------------------------------------------------------------------------------------------------------------------
TRANSFERS BETWEEN ACCOUNTS (14,488) -- -- -- (14,488)
- ----------------------------------------------------------------------------------------------------------------------------------
(WITHDRAWAL) CONTRIBUTION BY
INDIVIDUAL DEBTOR MFR-2 -- -- -- -- --
- ----------------------------------------------------------------------------------------------------------------------------------
CHECKS/OTHER DISBURSEMENTS (783) -- -- -- (783)
- ----------------------------------------------------------------------------------------------------------------------------------
ENDING CASH - PER BOOKS 40,032 51,774 -- (910) 90,896
==================================================================================================================================
MOR-8D
12
CASE NAME: TRANSAMERICAN REFINING CORPORATION
CASE NUMBER: 99-21552-C-11
CASH ACCOUNT RECONCILIATION
MONTH OF SEPTEMBER 1999
===================================================================================================================================
BANK NAME Sterling
- -----------------------------------------------------------------------------------------------------------------------------------
ACCOUNT NUMBER 0130002216
- -----------------------------------------------------------------------------------------------------------------------------------
ACCOUNT TYPE Payroll Total This Page Total All Pages
- -----------------------------------------------------------------------------------------------------------------------------------
BANK BALANCE -- -- 16,478,240
- -----------------------------------------------------------------------------------------------------------------------------------
DEPOSIT IN TRANSIT -- -- --
- -----------------------------------------------------------------------------------------------------------------------------------
OUTSTANDING CHECKS (245) (245) (139,807)
- -----------------------------------------------------------------------------------------------------------------------------------
ADJUSTED BANK BALANCE (245) -- -- (245) 16,338,433
====================================================================================================================================
BEGINNING CASH - PER BOOKS (245) (245) 16,275,810
- -----------------------------------------------------------------------------------------------------------------------------------
RECEIPTS -- -- 66,841
- -----------------------------------------------------------------------------------------------------------------------------------
TRANSFERS BETWEEN ACCOUNTS -- -- --
- -----------------------------------------------------------------------------------------------------------------------------------
(WITHDRAWAL) CONTRIBUTION BY
INDIVIDUAL DEBTOR MFR-2 -- -- --
- -----------------------------------------------------------------------------------------------------------------------------------
CHECKS/OTHER DISBURSEMENTS -- -- (4,218)
- -----------------------------------------------------------------------------------------------------------------------------------
ENDING CASH - PER BOOKS (245) -- -- (245) 16,338,433
===================================================================================================================================
MOR-8E
13
CASE NAME: TRANSAMERICAN REFINING CORPORATION CASE NUMBER: 99-21552 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
INSIDERS: NAME/POSITION/COMP TYPE 5/99 6/99 7/99 8/99 9/99
===========================================================================================================
1. NONE
- -----------------------------------------------------------------------------------------------------------
2.
- -----------------------------------------------------------------------------------------------------------
3.
- -----------------------------------------------------------------------------------------------------------
4.
- -----------------------------------------------------------------------------------------------------------
5.
- -----------------------------------------------------------------------------------------------------------
6.
- -----------------------------------------------------------------------------------------------------------
TOTAL INSIDERS (MOR-1) -- -- -- -- --
===========================================================================================================
===========================================================================================================
PROFESSIONALS MONTH MONTH MONTH MONTH MONTH
NAME/ORDER DATE 5/99 6/99 7/99 8/99 9/99
===========================================================================================================
1. Gardere & Wynne -- -- 9,499 7,906 --
- -----------------------------------------------------------------------------------------------------------
2. Jordan Hyden Womble & Culbreth -- -- -- 1,618 826
- -----------------------------------------------------------------------------------------------------------
3.
- -----------------------------------------------------------------------------------------------------------
4.
- -----------------------------------------------------------------------------------------------------------
5.
- -----------------------------------------------------------------------------------------------------------
6.
- -----------------------------------------------------------------------------------------------------------
TOTAL PROFESSIONALS (MOR-1) -- -- 9,499 9,524 826
===========================================================================================================
MOR-9
14
TRANSAMERICAN REFINING CORPORATION
99-21552-C-11
NOTES TO MONTHLY OPERATING REPORT
SEPTEMBER 1999
1. Unamortized debt issue costs are classified as "Other Assets" in the
Company's MOR.
2. The balance of the Company's secured note payable to TransAmerican Energy
Corporation was reflected in its Schedules at the fully accreted balance of
$920.0 million; however, the balance of this note payable is reflected in
the Company's MOR at its accreted balance under the caption "Notes
Payable-Secured." On June 15, 1999, this note payable reached its fully
accreted balance. During August 1999, the Company reversed the accrual of
interest and amortization of deferred debt issue costs related to this note
payable in accordance with current accounting pronouncements applicable to
companies operating under Chapter 11.
3. The balance of the Company's subordinated notes was reflected in its
Schedules at their fully accreted balance of $200.0 million; however, the
balance of these notes is reflected in the Company's MOR at their accreted
balance as of the petition date.
15
CASE NAME: TRANSAMERICAN REFINING CORPORATION
CASE NUMBER: 99-21552-C-11
PETITION DATE: APRIL 20, 1999
INSURANCE MAINTAINED
SEPTEMBER 30, 1999
EXPIRATION
TYPE OF INSURANCE DATE
- ---------------------------------------------------- ---------------------
CASUALTY AND LIABILITY
----------------------
Primary General Liability January 01, 2000
Excess Liability January 01, 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