EXHIBIT 99.1
CASE NAME: Coho Energy, Inc., ET AL Monthly Operating Report
CASE NUMBER: 02-31189-HCA-11 ACCRUAL BASIS
JUDGE: Harold C. Abramson
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF TEXAS
DALLAS DIVISION
MONTHLY OPERATING REPORT
MONTH ENDING: DECEMBER 31, 2002
COHO ENERGY, INC. MONTHLY OPERATING REPORT
BANKRUPTCY CONSOLIDATION ACCRUAL BASIS - 1
BALANCE SHEETS (IN 000'S)
DECEMBER 31, 2002
<Table>
<Caption>
SOFA FEB 28, MAR 31, APR 30, MAY 31, JUNE 30,
SCHEDULE 2002 2002 2002 2002 2002
--------- --------- --------- --------- --------- ---------
ASSETS
CURRENT ASSETS
Cash and cash equivalents 7,810 $ 9,023 $ 10,655 $ 11,246 $ 11,635 $ 12,917
Cash in escrow 25 25 25 26 26 26
Accounts receivable 7,495 7,231 8,135 8,801 9,738 12,108
Other current assets 32 1,001 930 1,025 986 954
Accrued unrealized gains derivatives -- 2,225 37 37 37 4
--------- --------- --------- --------- --------- ---------
15,362 19,505 19,782 21,135 22,422 26,009
PROPERTY AND EQUIPMENT 335,561 331,674 330,808 330,378 329,845 329,371
INVESTMENT IN SUBSIDIARIES -- 260 260 59 58 54
OTHER ASSETS 82 22,692 111 112 104 89
--------- --------- --------- --------- --------- ---------
$ 351,005 $ 374,131 $ 350,961 $ 351,684 $ 352,429 $ 355,523
========= ========= ========= ========= ========= =========
LIABILITIES AND
SHAREHOLDERS' EQUITY
LIABILITIES NOT SUBJECT TO COMPROMISE
CURRENT LIABILITIES
Accounts payable, principally trade -- 485 712 874 744 2,075
Accrued liabilities and other payables -- 2,559 4,426 4,402 4,697 4,383
Accrued interest payable -- 681 1,034 1,354 1,278 1,596
Accrued unrealized losses derivatives -- 165 506 506 506 834
Current portion of long term debt -- -- -- --
--------- --------- --------- --------- --------- ---------
0 3,890 6,678 7,136 7,225 8,888
LIABILITIES SUBJECT TO COMPROMISE
Accounts payable, principally trade 5,644 4,928 5,771 5,821 5,800 5,679
Accrued liabilities and other payables 1,032 1,588 944 949 687 688
Current portion of long term debt 327,797 316,934 327,679 327,482 327,482 326,388
--------- --------- --------- --------- --------- ---------
334,473 323,450 334,394 334,252 333,969 332,755
LONG TERM DEBT -- -- -- -- -- --
DEFERRED INCOME TAXES -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
334,473 327,340 341,072 341,388 341,194 341,643
--------- --------- --------- --------- --------- ---------
COMMITMENTS AND
CONTINGENCIES 5,550 450 450 450 450 450
OTHER LONG TERM ACCRUED DERIVATIVES -- 257 397 397 397 397
SHAREHOLDERS' EQUITY
Prepetition owners' equity 8,679 47,098 13,771 13,771 13,771 13,771
Postpetition owners' equity(a) -- (1,014) (4,729) (4,322) (3,383) (738)
--------- --------- --------- --------- --------- ---------
Total Shareholders' Equity 8,679 46,084 9,042 9,449 10,388 13,033
--------- --------- --------- --------- --------- ---------
$ 348,702 $ 374,131 $ 350,961 $ 351,684 $ 352,429 $ 355,523
========= ========= ========= ========= ========= =========
<Caption>
JULY 31, AUGUST 31, SEPT 30, OCT 31, NOV 30, DEC 31,
2002 2002 2002 2002 2002 2002
--------- --------- --------- --------- --------- ---------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 14,001 $ 13,679 $ 7,592 $ 7,061 $ 6,813 $ 6,103
Cash in escrow 26 48,977 28,140 26,291 26,291 24,352
Accounts receivable 12,544 3,849 3,494 3,373 3,268 3,220
Other current assets 1,195 322 371 349 329 256
Accrued unrealized gains derivatives 4 -- -- -- -- --
--------- --------- --------- --------- --------- ---------
27,770 66,827 39,597 37,074 36,701 33,931
PROPERTY AND EQUIPMENT 328,769 441 411 382 3 3
INVESTMENT IN SUBSIDIARIES 54 56 54 57 57 53
OTHER ASSETS 103 -- -- -- -- --
--------- --------- --------- --------- --------- ---------
$ 356,696 $ 67,324 $ 40,062 $ 37,513 $ 36,761 $ 33,987
========= ========= ========= ========= ========= =========
LIABILITIES AND
SHAREHOLDERS' EQUITY
LIABILITIES NOT SUBJECT TO COMPROMISE
CURRENT LIABILITIES
Accounts payable, principally trade 2,176 608 553 197 119 136
Accrued liabilities and other payables 4,013 7,863 3,191 1,133 651 576
Accrued interest payable 3,035 3,240 2,203 2,203 597 --
Accrued unrealized losses derivatives 834 -- -- -- -- --
Current portion of long term debt -- -- -- -- --
--------- --------- --------- --------- --------- ---------
10,058 11,711 5,947 3,533 1,367 712
LIABILITIES SUBJECT TO COMPROMISE
Accounts payable, principally trade 5,617 4,608 4,608 4,571 4,578 2,509
Accrued liabilities and other payables 688 603 603 603 478 464
Current portion of long term debt 326,388 153,508 132,705 132,705 132,705 132,705
--------- --------- --------- --------- --------- ---------
332,693 158,719 137,916 137,879 137,761 135,678
LONG TERM DEBT -- -- -- -- -- --
DEFERRED INCOME TAXES -- -- -- -- -- --
--------- --------- --------- --------- --------- ---------
342,751 170,430 143,863 141,412 139,128 136,390
--------- --------- --------- --------- --------- ---------
COMMITMENTS AND
CONTINGENCIES 450 -- -- -- -- --
OTHER LONG TERM ACCRUED DERIVATIVES 397 -- -- -- -- --
SHAREHOLDERS' EQUITY
Prepetition owners' equity 13,771 13,771 13,771 13,771 13,771 13,771
Postpetition owners' equity(a) (673) (116,877) (117,572) (117,670) (116,138) (116,174)
--------- --------- --------- --------- --------- ---------
Total Shareholders' Equity 13,098 (103,106) (103,801) (103,899) (102,367) (102,403)
--------- --------- --------- --------- --------- ---------
$ 356,696 $ 67,324 $ 40,062 $ 37,513 $ 36,761 $ 33,987
========= ========= ========= ========= ========= =========
</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
DECEMBER 31, 2002
<Table>
<Caption>
JAN 02(a) FEB 02 MAR 02 APR 02 MAY 02 JUNE 02 JULY 02
---------- ---------- ---------- ---------- ---------- ---------- ----------
PRODUCTION/PRICES
Oil (Bbls/day) 9,103 9,348 9,115 9,052 9,638 9,210 9,005
Gas (Mcf/day) 4,085 4,375 3,986 4,157 3,924 4,013 3,487
BOE/day * 9,783 10,077 9,779 9,745 10,292 9,879 9,587
Average Oil Price $ 14.93 $ 16.01 $ 19.72 $ 21.68 $ 22.30 $ 20.90 $ 22.24
Average Gas Price $ 2.65 $ 2.06 $ 2.48 $ 3.22 $ 3.27 $ 3.26 $ 3.17
Average BOE Price $ 15.00 $ 15.74 $ 19.39 $ 21.51 $ 22.13 $ 20.81 $ 22.04
OPERATING REVENUES
Oil and gas production $ 4,549 $ 4,442 $ 5,877 $ 6,290 $ 7,058 $ 6,168 $ 6,550
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total operating revenues 4,549 4,442 5,877 6,290 7,058 6,168 6,550
---------- ---------- ---------- ---------- ---------- ---------- ----------
OPERATING EXPENSES
Oil and gas production 2,187 2,063 2,097 2,022 2,149 2,045 2,141
Taxes on oil & gas production 278 263 348 373 415 359 395
General & administrative 643 490 227 256 304 258 265
Depletion & depreciation 1,519 1,455 1,539 1,484 1,617 1,505 1,509
Allowance for bad debt -- -- -- -- -- -- --
(Gain) Loss on derivatives (251) (10,257) 13,446 11 106 (253) 105
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total operating expenses 4,376 (5,986) 17,657 4,146 4,591 3,914 4,415
---------- ---------- ---------- ---------- ---------- ---------- ----------
OPERATING INCOME 173 10,428 (11,780) 2,144 2,467 2,254 2,135
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) (1,440)
Standby loan prepayment fee -- (29,344) 29,344 -- -- -- --
Reorganization costs (33) (114) (53,309) (490) (166) (417) (630)
Litigation Settlement -- -- -- -- -- 2,832 --
Loss on sale of property
and equipment -- -- -- -- -- -- --
---------- ---------- ---------- ---------- ---------- ---------- ----------
(2,729) (30,588) (25,151) (1,738) (1,528) 1,018 (2,070)
---------- ---------- ---------- ---------- ---------- ---------- ----------
EARNINGS (LOSS) BEFORE TAXES
AND EXTRAORDINARY ITEMS (2,556) (20,160) (36,931) 406 939 3,272 65
---------- ---------- ---------- ---------- ---------- ---------- ----------
INCOME TAX EXPENSE (BENEFIT)
Current -- -- -- -- -- -- --
Deferred -- -- -- -- -- -- --
---------- ---------- ---------- ---------- ---------- ---------- ----------
0 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
EARNINGS (LOSS) (2,556) (20,160) (36,931) 406 939 3,272 65
---------- ---------- ---------- ---------- ---------- ---------- ----------
EXTRAORDINARY ITEMS
Gain on extinguishment on
indebtedness -- -- -- -- -- -- --
---------- ---------- ---------- ---------- ---------- ---------- ----------
NET EARNINGS (LOSS) $ (2,556) $ (20,160) $ (36,931) $ 406 $ 939 $ 3,272 $ 65
========== ========== ========== ========== ========== ========== ==========
BASIC EARNINGS PER SHARE** $ (0.14) $ (1.08) $ (1.97) $ 0.02 $ 0.05 $ 0.17 $ 0.00
CASH FLOW FROM OPERATIONS $ 846 $ 561 $ 498 $ 1,910 $ 2,551 $ 4,511 $ 1,568
CASH FLOW PER SHARE** $ 0.05 $ 0.03 $ 0.03 $ 0.10 $ 0.14 $ 0.24 $ 0.08
(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 18,714
<Caption>
YEAR-TO-DATE
AUG 02 SEP 02 OCT 02 NOV 02 DEC 02 12/31/02
---------- ---------- ---------- ---------- ---------- ------------
PRODUCTION/PRICES
Oil (Bbls/day) 8,810 0 0 0 0 9,161
Gas (Mcf/day) 3,370 0 0 0 0 3,922
BOE/day * 9,372 0 0 0 0 9,815
Average Oil Price $ 23.55 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 20.17
Average Gas Price $ 3.03 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 2.88
Average BOE Price $ 23.23 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 19.98
OPERATING REVENUES
Oil and gas production $ 6,314 -- -- -- -- $ 47,248
---------- ---------- ---------- ---------- ---------- ----------
Total operating revenues 6,314 -- -- -- -- 47,248
---------- ---------- ---------- ---------- ---------- ----------
OPERATING EXPENSES
Oil and gas production 2,088 -- -- -- -- 16,792
Taxes on oil & gas production 328 -- -- -- -- 2,759
General & administrative 269 399 220 171 147 3,649
Depletion & depreciation 1,386 30 32 -- -- 12,076
Allowance for bad debt 94 -- -- -- -- 94
(Gain) Loss on derivatives 241 -- -- -- -- 3,148
---------- ---------- ---------- ---------- ---------- ----------
Total operating expenses 4,406 429 252 171 147 38,518
---------- ---------- ---------- ---------- ---------- ----------
OPERATING INCOME 1,908 (429) (252) (171) (147) 8,730
OTHER INCOME & EXPENSES
Equity in income from
subsidiaries -- (1) -- -- (4) 191
Interest and other income 1 3 3 -- -- 32
Interest expense (1,315) (59) -- 1,660 (40) (10,434)
Standby loan prepayment fee -- -- -- -- -- 0
Reorganization costs (3,907)(b) (130) 150 323 75 (58,648)
Litigation Settlement -- -- -- -- -- 2,832
Loss on sale of property
and equipment (111,659) (79) 1 (280) 80 (111,937)
---------- ---------- ---------- ---------- ---------- ----------
(116,880) (266) 154 1,703 111 (177,964)
---------- ---------- ---------- ---------- ---------- ----------
EARNINGS (LOSS) BEFORE TAXES
AND EXTRAORDINARY ITEMS (114,972) (695) (98) 1,532 (36) (169,234)
---------- ---------- ---------- ---------- ---------- ----------
INCOME TAX EXPENSE (BENEFIT)
Current -- -- -- -- -- 0
Deferred -- -- -- -- -- 0
---------- ---------- ---------- ---------- ---------- ----------
0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ----------
EARNINGS (LOSS) (114,972) (695) (98) 1,532 (36) (169,234)
---------- ---------- ---------- ---------- ---------- ----------
EXTRAORDINARY ITEMS
Gain on extinguishment on
indebtedness -- -- -- -- -- --
---------- ---------- ---------- ---------- ---------- ----------
NET EARNINGS (LOSS) $ (114,972) $ (695) $ (98) $ 1,532 $ (36) $ (169,234)
========== ========== ========== ========== ========== ==========
BASIC EARNINGS PER SHARE** $ (6.14) $ (0.04) $ (0.01) $ 0.08 $ (0.00) $ (9.04)
CASH FLOW FROM OPERATIONS $ (2,435) $ (590) $ (64) $ 1,814 $ (112) $ 11,058
CASH FLOW PER SHARE** $ (0.13) $ (0.03) $ (0.00) $ 0.10 $ (0.01) $ 0.59
(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>
PAGE 1
COHO ENERGY CASE NO. 02-31189-HCA-11
COHO ENERGY, INC. (CONSOLIDATED) MONTHLY OPERATING REPORT
GENERAL & ADMINISTRATIVE EXPENSE SUMMARY ACCRUAL BASIS - 2
DECEMBER 31, 2002 PAGE 2 OF 2
<Table>
<Caption>
FEBRUARY MARCH APRIL MAY JUNE JULY
----------- ----------- ----------- ----------- ----------- -----------
Salaries (a) $ 420 $ 424 $ 415 $ 416 $ 422 $ 422
Employee Benefits (b) 226 157 107 153 203 152
Employee Related Costs (c) (19) 9 (5) (2) (6) 12
Office Related Costs (d) 98 101 104 95 93 99
Outside Services (e) 218 (25) 55 94 41 81
Miscellaneous (f) (0) 19 24 20 21 16
Insurance - general 35 35 35 35 35 22
Data Processing 10 5 12 3 1 3
Acquisition Costs (g) 12 12 0 0 0 0
Corporate Costs (h) 4 6 49 12 5 6
----------- ----------- ----------- ----------- ----------- -----------
Total Costs 1,004 742 795 825 817 812
Overhead Allocations (i) (236) (231) (247) (241) (248) (245)
G&A Recoveries (j) (605) (611) (612) (603) (635) (634)
Reclass recoveries to LOE (k) 327 326 320 323 325 332
----------- ----------- ----------- ----------- ----------- -----------
Net G&A Expense 490 227 256 304 258 265
Reorganization Costs 114 53,309 490 166 417 630
----------- ----------- ----------- ----------- ----------- -----------
Total G&A Related Costs $ 604 $ 53,536 $ 747 $ 470 $ 676 $ 895
=========== =========== =========== =========== =========== ===========
<Caption>
AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER
----------- ----------- ----------- ----------- -----------
Salaries (a) $ 448 $ 118 $ 64 $ 60 $ 48
Employee Benefits (b) 173 57 24 20 14
Employee Related Costs (c) (12) 2 0 0 0
Office Related Costs (d) 91 72 72 23 15
Outside Services (e) 56 106 (4) 25 32
Miscellaneous (f) 110 3 33 19 16
Insurance - general 22 32 26 21 21
Data Processing 1 1 3 0 0
Acquisition Costs (g) 0 0 0 0 0
Corporate Costs (h) 1 8 2 3 1
----------- ----------- ----------- ----------- -----------
Total Costs 889 399 220 171 147
Overhead Allocations (i) (237) 0 0 0 0
G&A Recoveries (j) (622) 0 0 0 0
Reclass recoveries to LOE (k) 333 0 0 0 0
----------- ----------- ----------- ----------- -----------
Net G&A Expense 363 399 220 171 147
Reorganization Costs 3,907 130 (150) (323) (75)
----------- ----------- ----------- ----------- -----------
Total G&A Related Costs $ 4,270 $ 529 $ 70 $ (152) $ 72
=========== =========== =========== =========== ===========
</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
DECEMBER 31, 2002
<Table>
<Caption>
JAN(a) FEB MARCH APRIL MAY JUNE JULY
--------- --------- --------- --------- --------- --------- ---------
CASH FLOWS FROM OPERATIONS
Net earnings (loss) $ (2,556) $ (20,160) $ (36,931) $ 406 $ 939 $ 3,272 $ 65
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 1,509
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) (6)
--------- --------- --------- --------- --------- --------- ---------
Cash Flow from Opers before W/C Changes 846 561 497 1,911 2,551 4,511 1,568
Changes in operating assets and
liabilities:
Accounts receivable and other assets 295 317 (844) (560) (892) (2,323) (691)
Cash in escrow -- -- -- (1) -- -- --
Accounts payable, principally trade (619) 1,229 1,070 212 (151) 1,210 39
Accounts pay and other accr liabs -- 1,137 1,048 (329) (169) (66) (105)
Accrued interest -- (1,486) 353 320 (76) 318 1,439
--------- --------- --------- --------- --------- --------- ---------
Net cash provided (used) by operating
activities 522 1,758 2,124 1,553 1,263 3,650 2,250
--------- --------- --------- --------- --------- --------- ---------
CASH FLOWS FROM INVESTING
Property and equipment (974) (759) (673) (1,056) (1,084) (1,031) (907)
Changes in accts pay and accrued
liabilities related to exploration
and development 98 (304) 181 317 209 (243) (259)
Advances to unconsolidated subsidiaries -- (13) -- 1 1 -- --
--------- --------- --------- --------- --------- --------- ---------
Net cash provided (used) by investing
activities (876) (1,076) (492) (738) (874) (1,274) (1,166)
--------- --------- --------- --------- --------- --------- ---------
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) 0
--------- --------- --------- --------- --------- --------- ---------
NET INCREASE (DECREASE) IN CASH (1,411) 682 1,632 591 389 1,282 1,084
CASH AND CASH EQUIVS-BEGINNING 9,752 8,341 9,023 10,655 11,246 11,635 12,917
--------- --------- --------- --------- --------- --------- ---------
CASH AND CASH EQUIVS-ENDING $ 8,341 $ 9,023 $ 10,655 $ 11,246 $ 11,635 $ 12,917 $ 14,001
========= ========= ========= ========= ========= ========= =========
<Caption>
AUGUST SEPT OCT NOV DEC YTD
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM OPERATIONS
Net earnings (loss) $(114,972) $ (695) $ (98) $ 1,532 $ (36) $(169,234)
Adjustments to reconcile net earnings
(loss) to net cash provided by
operating activities:
Equity in loss of subsidiaries -- 1 -- -- 4 (191)
Depletion and depreciation 1,386 30 32 -- -- 12,076
Sale of property and equipment 111,159 79 (1) 280 (80) 111,437
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 (8) (5) 3 2 -- 692
--------- --------- --------- --------- --------- ---------
Cash Flow from Opers before W/C Changes (2,435) (590) (64) 1,814 (112) 11,058
Changes in operating assets and
liabilities:
Accounts receivable and other assets 664 308 141 126 121 (3,338)
Cash in escrow (48,951) 20,837 1,849 -- 1,939 (24,327)
Accounts payable, principally trade (1,373) (55) (393) (71) (2,052) (954)
Accounts pay and other accr liabs 4,013 (4,747) (2,061) (609) (89) (1,977)
Accrued interest 205 (1,037) -- (1,606) (597) (2,167)
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by operating
activities (47,877) 14,716 (528) (346) (790) (21,705)
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM INVESTING
Property and equipment (708) -- (2) (5) -- (7,199)
Changes in accts pay and accrued
liabilities related to exploration
and development (206) -- -- -- -- (207)
Advances to unconsolidated subsidiaries (2) (1) (1) -- -- (15)
--------- --------- --------- --------- --------- ---------
Net cash provided (used) by investing
activities (916) (1) (3) (5) 0 (7,421)
--------- --------- --------- --------- --------- ---------
CASH FLOWS FROM FINANCING
Proceeds from sale of property and
equipment 221,351 -- -- 103 80 221,534
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 48,471 (20,802) 0 103 80 25,477
--------- --------- --------- --------- --------- ---------
NET INCREASE (DECREASE) IN CASH (322) (6,087) (531) (248) (710) (3,649)
CASH AND CASH EQUIVS-BEGINNING 14,001 13,679 7,592 7,061 6,813 9,752
--------- --------- --------- --------- --------- ---------
CASH AND CASH EQUIVS-ENDING $ 13,679 $ 7,592 $ 7,061 $ 6,813 $ 6,103 $ 6,103
========= ========= ========= ========= ========= =========
</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 JUNE 02 JULY 02
--------- --------- --------- --------- --------- --------- ---------
JIB RECEIVABLES
0 - 30 days $ 1,101 $ 956 $ 525 $ 1,089 $ 642 $ 1,181 $ 1,593
31 - 60 days 79 80 589 (3) 643 25 147
61 - 90 days 29 39 43 214 (0) 245 1
Over 90 days 951 936 853 831 836 790 872
--------- --------- --------- --------- --------- --------- ---------
Total Accounts Receivable $ 2,161 $ 2,011 $ 2,010 $ 2,132 $ 2,121 $ 2,242 $ 2,613
========= ========= ========= ========= ========= ========= =========
SUMMARY OF RECEIVABLES
Accrued revenue $ 5,428 $ 5,465 $ 6,533 $ 6,873 $ 7,826 $ 7,231 $ 7,288
JIB receivables 2,161 2,011 2,010 2,132 2,121 2,242 2,613
Employee/officer receivables 1 1 1 2 0 4 0
Other receivables 375 224 61 264 262 3,101 3,112
--------- --------- --------- --------- --------- --------- ---------
Total receivables 7,965 7,701 8,605 9,271 10,208 12,578 13,014
Allowance for doubtful accts (470) (470) (470) (470) (470) (470) (470)
--------- --------- --------- --------- --------- --------- ---------
Receivables net of allowance $ 7,495 $ 7,231 $ 8,135 $ 8,801 $ 9,738 $ 12,108 $ 12,544
========= ========= ========= ========= ========= ========= =========
<Caption>
AUG 02 SEPT 02 OCT 02 NOV 02 DEC 02
--------- --------- --------- --------- ---------
JIB RECEIVABLES
0 - 30 days $ 101 $ 0 $ 0 $ 0 $ 0
31 - 60 days (22) 30 0 0 0
61 - 90 days 245 0 2 0 0
Over 90 days 412 423 338 283 266
--------- --------- --------- --------- ---------
Total Accounts Receivable $ 736 $ 453 $ 340 $ 283 $ 266
========= ========= ========= ========= =========
SUMMARY OF RECEIVABLES
Accrued revenue $ 268 $ 222 $ 216 $ 171 $ 171
JIB receivables 736 453 340 283 266
Employee/officer receivables (1) (1) (1) (1) 0
Other receivables 3,135 3,125 3,065 3,064 3,032
--------- --------- --------- --------- ---------
Total receivables 4,138 3,799 3,620 3,517 3,469
Allowance for doubtful accts (289) (305) (247) (249) (249)
--------- --------- --------- --------- ---------
Receivables net of allowance $ 3,849 $ 3,494 $ 3,373 $ 3,268 $ 3,220
========= ========= ========= ========= =========
</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 MARCH APRIL MAY JUNE JULY AUG
--------- --------- --------- --------- --------- --------- ---------
ACCOUNTS PAYABLE
0 - 30 days $ 232 $ 431 $ 519 $ 300 $ 1,439 $ 1,175 $ 191
31 - 60 days 0 21 23 5 5 102 1
Over 60 days 0 0 7 30 30 356 37
--------- --------- --------- --------- --------- --------- ---------
232 453 550 334 1,475 1,633 228
Prepetition 2,618 3,700 3,744 3,728 3,667 3,616 3,603
--------- --------- --------- --------- --------- --------- ---------
Total Accounts Payable $ 2,851 $ 4,152 $ 4,294 $ 4,063 $ 5,142 $ 5,249 $ 3,831
========= ========= ========= ========= ========= ========= =========
INCOME TAXES PAYABLE
PREPETITION
Federal income $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
State income 0 0 0 0 0 0 0
--------- --------- --------- --------- --------- --------- ---------
Total Taxes Payable $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
========= ========= ========= ========= ========= ========= =========
SUMMARY OF LIABILITIES
POSTPETITION
Accrued interest $ 681 $ 1,034 $ 1,354 $ 1,278 $ 1,596 $ 3,035 $ 3,240
--------- --------- --------- --------- --------- --------- ---------
$ 681 $ 1,034 $ 1,354 $ 1,278 $ 1,596 $ 3,035 $ 3,240
--------- --------- --------- --------- --------- --------- ---------
Accounts payable $ 232 $ 453 $ 550 $ 334 $ 1,475 $ 1,633 $ 228
Miscellaneous payables 0 3 2 2 (1) (1) 2
Revenues payable 252 269 322 406 599 543 376
A/P sales & use tax 1 3 0 1 2 1 2
--------- --------- --------- --------- --------- --------- ---------
A/P Trade $ 485 $ 728 $ 874 $ 744 $ 2,075 $ 2,176 $ 608
--------- --------- --------- --------- --------- --------- ---------
Accrued reorganization costs $ 129 $ 887 $ 1,121 $ 1,347 $ 1,279 $ 1,293 $ 5,071
Accrued operating costs 1,314 1,738 1,708 1,565 1,542 1,326 0
Accrued drilling costs 556 719 1,140 1,370 1,126 868 0
Accrued franchise taxes 14 30 47 64 80 95 110
Accrued environmental 50 50 50 50 50 50 15
Other accrued liabilities 495 1,236 336 302 305 381 2,666
--------- --------- --------- --------- --------- --------- ---------
Accrued liabilities and other $ 2,559 $ 4,661 $ 4,402 $ 4,697 $ 4,383 $ 4,013 $ 7,863
--------- --------- --------- --------- --------- --------- ---------
Accrued unrealized derivatives $ 165 $ 506 $ 506 $ 506 $ 834 $ 834 $ 0
--------- --------- --------- --------- --------- --------- ---------
$ 165 $ 506 $ 506 $ 506 $ 834 $ 834 $ 0
--------- --------- --------- --------- --------- --------- ---------
Total Postpetition $ 3,890 $ 6,929 $ 7,136 $ 7,225 $ 8,888 $ 10,058 $ 11,711
--------- --------- --------- --------- --------- --------- ---------
PREPETITION
Income taxes payable $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Accounts payable 2,618 3,700 3,744 3,728 3,667 3,616 3,603
Miscellaneous payables 8 8 8 8 8 8 0
Revenues payable 2,301 2,046 2,068 2,062 2,003 1,992 1,003
A/P sales & use tax 1 1 1 1 1 1 1
--------- --------- --------- --------- --------- --------- ---------
A/P Trade $ 4,928 $ 5,755 $ 5,821 $ 5,800 $ 5,679 $ 5,617 $ 4,608
--------- --------- --------- --------- --------- --------- ---------
Accrued LA penalties & int $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
Accrued operating costs 594 33 5 0 0 0 0
Accrued drilling costs 432 125 22 0 0 0 0
Accrued franchise taxes 190 190 190 190 190 190 190
Accrued vacation 105 105 105 105 105 105 0
Accrued contract obligations 0 0 0 0 0 0 0
Accrued sale tax due Amoco 0 0 0 0 0 0 0
Accrued environmental costs 175 175 175 175 175 175 175
Other accrued liabilities 90 80 451 217 218 218 238
--------- --------- --------- --------- --------- --------- ---------
Accrued liabilities and other $ 1,588 $ 709 $ 949 $ 687 $ 688 $ 688 $ 603
--------- --------- --------- --------- --------- --------- ---------
Total prepetition $ 6,516 $ 6,464 $ 6,770 $ 6,487 $ 6,368 $ 6,305 $ 5,211
--------- --------- --------- --------- --------- --------- ---------
Total liabilities $ 10,406 $ 13,393 $ 13,906 $ 13,712 $ 15,255 $ 16,363 $ 16,922
========= ========= ========= ========= ========= ========= =========
LONG TERM DEBT
Chase revolving credit facility $ 195,000 $ 195,000 $ 194,776 $ 194,776 $ 193,682 $ 193,682 $ 20,802
Standby loan $ 82,707 $ 93,451 $ 93,451 $ 93,451 $ 93,451 $ 93,451 $ 93,451
Standby accrued interest $ 4,984 $ 4,984 $ 5,010 $ 5,010 $ 5,010 $ 5,010 $ 5,010
Standby prepayment fee $ 29,344 $ 29,344 $ 29,344 $ 29,344 $ 29,344 $ 29,344 $ 29,344
Derivative liability $ 1,538 $ 1,538 $ 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 $ 3,361 $ 3,361
Reclass to current $(316,934) $(327,679) $(327,482) $(327,482) $(326,388) $(326,388) $(153,508)
--------- --------- --------- --------- --------- --------- ---------
Total Long Term Debt $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
========= ========= ========= ========= ========= ========= =========
<Caption>
SEPT OCT NOV DEC
--------- --------- --------- ---------
ACCOUNTS PAYABLE
0 - 30 days $ 454 $ 53 $ 10 $ 78
31 - 60 days 0 55 0 0
Over 60 days 30 71 91 42
--------- --------- --------- ---------
485 179 101 120
Prepetition 3,603 3,603 3,609 1,663
--------- --------- --------- ---------
Total Accounts Payable $ 4,088 $ 3,782 $ 3,710 $ 1,783
========= ========= ========= =========
INCOME TAXES PAYABLE
PREPETITION
Federal income $ 0 $ 0 $ 0 $ 0
State income 0 0 0 0
--------- --------- --------- ---------
Total Taxes Payable $ 0 $ 0 $ 0 $ 0
========= ========= ========= =========
SUMMARY OF LIABILITIES
POSTPETITION
Accrued interest $ 2,203 $ 2,203 $ 597 $ 0
--------- --------- --------- ---------
$ 2,203 $ 2,203 $ 597 $ 0
--------- --------- --------- ---------
Accounts payable $ 485 $ 179 $ 101 $ 120
Miscellaneous payables 1 1 0 0
Revenues payable 66 17 18 14
A/P sales & use tax 1 0 0 2
--------- --------- --------- ---------
A/P Trade $ 553 $ 197 $ 119 $ 136
--------- --------- --------- ---------
Accrued reorganization costs $ 1,048 $ 767 $ 274 $ 168
Accrued operating costs 0 0 0 0
Accrued drilling costs 0 0 0 0
Accrued franchise taxes 110 140 155 170
Accrued environmental 15 15 15 15
Other accrued liabilities 2,017 210 207 222
--------- --------- --------- ---------
Accrued liabilities and other $ 3,191 $ 1,133 $ 651 $ 576
--------- --------- --------- ---------
Accrued unrealized derivatives $ 0 $ 0 $ 0 $ 0
--------- --------- --------- ---------
$ 0 $ 0 $ 0 $ 0
--------- --------- --------- ---------
Total Postpetition $ 5,947 $ 3,533 $ 1,367 $ 712
--------- --------- --------- ---------
PREPETITION
Income taxes payable $ 0 $ 0 $ 0 $ 0
Accounts payable 3,603 3,603 3,609 1,663
Miscellaneous payables 0 0 0 0
Revenues payable 1,003 967 967 845
A/P sales & use tax 1 1 2 1
--------- --------- --------- ---------
A/P Trade $ 4,608 $ 4,571 $ 4,578 $ 2,509
--------- --------- --------- ---------
Accrued LA penalties & int $ 0 $ 0 $ 0 $ 0
Accrued operating costs 0 0 0 0
Accrued drilling costs 0 0 0 0
Accrued franchise taxes 190 190 190 190
Accrued vacation 0 0 0 0
Accrued contract obligations 0 0 0 0
Accrued sale tax due Amoco 0 0 0 0
Accrued environmental costs 175 175 175 175
Other accrued liabilities 238 238 113 99
--------- --------- --------- ---------
Accrued liabilities and other $ 603 $ 603 $ 478 $ 464
--------- --------- --------- ---------
Total prepetition $ 5,211 $ 5,174 $ 5,056 $ 2,974
--------- --------- --------- ---------
Total liabilities $ 11,158 $ 8,707 $ 6,423 $ 3,686
========= ========= ========= =========
LONG TERM DEBT
Chase revolving credit facility $ 0 $ 0 $ 0 $ 0
Standby loan $ 93,451 $ 93,451 $ 93,451 $ 93,451
Standby accrued interest $ 5,010 $ 5,010 $ 5,010 $ 5,010
Standby prepayment fee $ 29,344 $ 29,344 $ 29,344 $ 29,344
Derivative liability $ 1,538 $ 1,538 $ 1,538 $ 1,538
State tax notes and other $ 3,361 $ 3,361 $ 3,361 $ 3,361
Reclass to current $(132,705) $(132,705) $(132,705) $(132,705)
--------- --------- --------- ---------
Total Long Term Debt $ 0 $ 0 $ 0 $ 0
========= ========= ========= =========
</Table>
COHO ENERGY CASE NO. 02-31189-HCA-11