Exhibit 99.1
CASE NAME: Venus Exploration, Inc
CASE: 02-13109-BP-11
JUDGE: Bill Parker
ACCRUAL BASIS
6/20/03
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF TEXAS
MONTHLY OPERATING REPORTS
MONTH ENDING: May, 2003
Note 1
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES
CODE, I DECLARE UNDER PENALTY OF PERJURY I HAVE EXAMINED THE FOLLOWING MONTHLY
OPERATING REPORT (ACCURAL BASIS-1 THROUGH ACCURAL BASIS-7) AND THE ACCOMPANYING
ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT
AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS
BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
/s/ EUGENE L. AMES, Jr. CEO
- ----------------------- ---
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE
Eugene L. Ames, Jr
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ TERRY F. HARDEMAN Chief Accounting Officer
- --------------------- ------------------------
ORIGINAL SIGNATURE OF PREPARER TITLE
Terry F. Hardeman
PRINTED NAME OF PREPARER DATE
CASE NAME: Venus Exploration, Inc ACCRUAL BASIS-1
CASE: 02-13109-BP-11 6/20/03
COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH
ASSETS AMOUNT
March, 2003 April, 2003 May, 2003
1. UNRESTRICTED CASH ($21,140.47) $13,606.04 $66,559.13
2. RESTRICTED CASH $1,512,474.00 $1,516,206.49 $1,517,494.23
3. TOTAL CASH $1,491,333.53 $1,529,812.53 $1,584,053.36
4. ACCOUNTS RECEIVABLE, NET $276,506.72 $325,559.85 $345,133.20
5. INVENTORY
6. NOTES RECEIVABLE
7. PREPAID EXPENSES $97,968.25 $82,875.07 $67,781.89
8. OTHER (ATTACH LIST)
9. TOTAL CURRENT ASSETS $1,865,808.50 $1,938,247.45 $1,996,968.45
10. PROPERTY, PLANT, & EQUIPMENT $6,176,305.07 $6,167,521.88 $5,920,803.68
11. LESS: ACCUMULATED DEPRECIATION/DEPLETION $4,213,857.32) $4,212,206.90) ($3,982,315.92)
12. NET PROPERTY, PLANT & EQUIPMENT $1,962,447.75 $1,955,314.98 $1,938,487.76
13. DUE FROM INSIDERS $9,811.76 $9,612.58 $9,560.88
14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) Schedule 1 $31,942.57 $19,235.00 $6,544.97
15. OTHER (ATTACH LIST)
16 TOTAL ASSETS $3,870,010.58 $3,922,410.01 $3,951,562.06
POSTPETITION LIABILITIES
17. ACCOUNTS PAYABLE $46,829.74 $105,556.06 $82,545.83
18. TAXES PAYABLE
19. NOTES PAYABLE
20. PROFESSIONAL FEES
21. SECURED DEBT
22. OTHER (ATTACH LIST) Accrued Payables $3,409.55 $51,896.71
23. TOTAL POSTPETITION LIABILITIES $46,829.74 $108,965.61 $134,442.54
PREPETITION LIABILITIES
24. SECURED DEBT $1,525,916.51 $1,511,905.17 $1,511,963.15
25. PRIORITY DEBT $0.00 $0.00
26. UNSECURED DEBT $6,049,193.17 $6,068,753.72 $6,064,257.28
27. OTHER (ATTACH LIST) Schedule 2 $43,489.13 $43,489.13 $40,296.89
28. TOTAL PREPETITION LIABILITIES $7,618,598.81 $7,624,148.02 $7,616,517.32
29. TOTAL LIABILITIES $7,665,428.55 $7,733,113.63 $7,750,959.86
EQUITY
30. PREPETITION OWNERS' EQUITY ($3,752,128.04) ($3,752,128.04) ($3,752,128.04)
31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) ($43,289.93) ($42,207.84) ($38,026.70)
32. DIRECT CHARGES TO EQUITY (ATTACHMENT EXPLANATION) Note 2 ($16,367.74) ($9,243.06)
33. TOTAL EQUITY ($3,795,417.97) ($3,810,703.62) ($3,799,397.80)
34. TOTAL LIABILITIES & OWNERS' EQUITY $3,870,010.58 $3,922,410.01 $3,951,562.06
CASE NAME: Venus Exploration, Inc.
ACCRUAL BASIS-2
CASE: 02-13109-BP-11
6/20/03
INCOME STATEMENT
MONTH MONTH MONTH QUARTER
REVENUES March, 2003 April, 2003 May, 2003 TOTAL
1. GROSS REVENUES Note 2 $158,388.25 $153,323.34 $187,071.30 $498,782.89
2. LESS: RETURNS & DISCOUNTS
3. NET REVENUE $158,388.25 $153,323.34 $187,071.30 $498,782.89
COSTS OF GOODS SOLD
4. MATERIAL
5. DIRECT LABOR
6. DIRECT OVERHEAD
7. TOTAL COST OF GOODS SOLD $0.00 $0.00 $0.00 $0.00
8. GROSS PROFIT $158,388.25 $153,323.34 $187,071.30 $498,782.89
OPERATING EXPENSES
9. OFFICER / INSIDER COMPENSATION $0.00 $0.00 $0.00 $0.00
10. SELLING & MARKETING
11. GENERAL & ADMINISTRATIVE Schedule 10 $55,279.34 $38,365.54 $33,473.35 $127,118.23
12. RENT & LEASE $6,446.67 $3,749.88 $3,749.88 $13,946.43
13. OTHER (ATTACH LIST) Schedule 3 $119,770.39 $94,316.18 $93,681.69 $307,768.26
14. TOTAL OPERATING EXPENSES $181,496.40 $136,431.60 $130,904.92 $448,832.92
15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE ($23,108.15) $16,891.74 $56,166.38 $49,949.97
OTHER INCOME & EXPENSE
16. NON-OPERATING INCOME (ATT. LIST) Schedule 4 $17,587.57 $21,914.53 $1,287.74 $40,789.84
17. NON-OPERATING EXPENSE (ATT. LIST)
18. INTEREST EXPENSE $7,887.63 $8,132.00 $7,866.39 $23,886.02
19. DEPRECIATION / DEPLETION $17,047.60 $16,884.61 $16,827.22 $50,759.43
20. AMORTIZATION Schedule 11 $12,707.57 $12,707.57 $23,106.69 $48,521.83
21. OTHER (ATTACH LIST)
22. NET OTHER INCOME & EXPENSES $20,055.23 $15,809.65 $46,512.56 $82,377.44
REORGANIZATION EXPENSES
23. PROFESSIONAL FEES $126.55 $126.55
24. U. S. TRUSTEE FEES $5,000.00 $5,000.00
25. OTHER (ATTACH LIST) Schedule 12 $472.68 $472.68
26. TOTAL REORGANIZATION EXPENSES $126.55 $0.00 $5,472.68 $5,599.23
27. INCOME TAX
28. NET PROFIT (LOSS) ($43,289.93) $1,082.09 $4,181.14 ($38,026.70)
CASE NAME: Venus Exploration, Inc ACCRUAL BASIS-3
CASE: 02-13109-BP-11 6/20/03
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER
DISBURSEMENTS March, 2003 April, 2003 May, 2003 TOTAL
1. CASH - BEGINNING OF MONTH $71,364.18 ($21,140.47) $13,606.04 $71,364.18
RECEIPTS FROM OPERATIONS
2. CASH SALES $61,322.08 $66,216.98 $123,746.80 $251,285.86
COLLECTIONS OF ACCOUNTS RECEIVABLE
3. PREPETITON $15,922.14 $8,450.57 $24,372.71
4. POSTPETITION $2,340.87 $2,340.87
5. TOTAL OPERATING RECEIPTS $77,244.22 $74,667.55 $126,087.67 $277,999.44
NON-OPERATING RECEIPTS
6. LOANS & ADVANCES (ATTACH LIST)
7. SALE OF ASSETS
8. OTHER (ATTACH LIST) Schedule 8 $17,587.57 $45,350.29 $47,719.73 $110,657.59
9. TOTAL NON-OPERATING RECEIPTS $17,587.57 $45,350.29 $47,719.73 $110,657.59
10. TOTAL RECEIPTS $94,831.79 $120,017.84 $173,807.40 $388,657.03
11. TOTAL CASH AVAILABLE $166,195.97 $98,877.37 $187,413.44 $460,021.21
OPERATING DISBURSEMENTS
12. NET PAYROLL $6,040.99 $3,352.11 $2,748.03 $12,141.13
13. PAYROLL TAXES PAID $2,444.51 $1,192.98 $1,033.87 $4,671.36
14. SALES, USE & OTHER TAXES PAID
15. SECURED / RENTAL / LEASES
16 UTILITIES
17. INSURANCE
18. INVENTORY PURCHASES
19. VEHICLE EXPENSES
20. TRAVEL
21. ENTERTAINMENT
22. REPAIRS & MAINTENANCE
23. SUPPLIES
24. ADVERTISING
25. OTHER (ATTACH LIST) Schedule 5 $178,850.94 $80,726.24 $117,072.41 $376,649.59
26. TOTAL OPERATING DISBURSEMENTS $187,336.44 $85,271.33 $120,854.31 $393,462.08
REORGANIZATION EXPENSES
27. PROFESSIONAL FEES
28. U.S. TRUSTEE FEES
29. OTHER (ATTACH LIST)
30. TOTAL REORGANIZATION EXPENSES
31. TOTAL DISBURSEMENTS $187,336.44 $85,271.33 $120,854.31 $393,462.08
32. NET CASH FLOW ($92,504.65) $34,746.51 $52,953.09 ($4,805.05)
33. CASH - END OF MONTH ($21,140.47) $13,606.04 $66,559.13 $66,559.13
CASE NAME: Venus Exploration, Inc ACCRUAL BASIS - 4
CASE: 02-13109-BP-11 6/20/03
SCHEDULE MONTH MONTH MONTH
ACCOUNTS RECEIVABLE AGING AMOUNT March, 2003 April, 2003 May, 2003
1. 0 - 30 ($201.87) $70,177.15 $216,370.32
2. 31 - 60 $155,261.05 $12,921.56 $5,134.69
3. 61 - 90 $10,028.71 $175,549.06 ($2,929.43)
4. 91 + $183,041.54 $148,160.36 $198,180.33
5. TOTAL ACCOUNTS RECEIVABLE $348,129.43 $406,808.13 $416,755.91
6. AMOUNT CONSIDERED UNCOLLECTABLE $71,622.71 $71,622.71 $71,622.71
7. ACCOUNTS RECEIVABLE, NET $276,506.72 $335,185.42 $345,133.20
MONTH: May, 2003
AGING OF POSTPETITON TAXES AND PAYABLES
TAXES PAYABLE 0 - 30 DAYS 31 - 60 DAYS 61 - 90 DAYS 91 + DAYS TOTAL
1. FEDERAL $0.00 $0.00 $0.00 $0.00 $0.00
2. STATE $0.00 $0.00 $0.00 $0.00 $0.00
3. LOCAL $0.00 $0.00 $0.00 $0.00 $0.00
4. OTHER (ATTACH LIST) $0.00 $0.00 $0.00 $0.00 $0.00
5. TOTAL TAXES PAYABLE $0.00 $0.00 $0.00 $0.00 $0.00
6. ACCOUNTS PAYABLE $82,545.83 $82,545.83
MONTH: May, 2003
STATUS OF POSTPETITION TAXES
FEDERAL BEGINNING TAX LIABILITY AMOUNT WITHHELD
AND OR ACCRUED AMOUNT PAID ENDING TAX LIABILITY
1. WITHHOLDING** $0.00 $496.36 $496.36 $0.00
2. FICA - EMPLOYEE** $0.00 $268.75 $268.75 $0.00
3. FICA - EMPLOYER** $0.00 $268.76 $268.76 $0.00
4. UNEMPLOYMENT $0.00 $0.00 $0.00 $0.00
5. INCOME $0.00 $0.00 $0.00 $0.00
6. OTHER (ATTACH LIST) $0.00 $0.00 $0.00 $0.00
7. TOTAL FEDERAL TAXES $0.00 $1,033.87 $1,033.87 $0.00
STATE AND LOCAL
8. WITHHOLDING 0 $0.00 $0.00 $0.00
9. SALES 0 $0.00 $0.00 $0.00
10. EXCISE 0 $0.00 $0.00 $0.00
11. UNEMPLOYMENT 0 $0.00 $0.00 $0.00
12. REAL PROPERTY 0 $0.00 $0.00 $0.00
13. PERSONAL PROPERTY 0 $0.00 $0.00 $0.00
14. OTHER (ATTACH LIST) 0 $0.00 $0.00 $0.00
15. TOTAL STATE & LOCAL $0.00 $0.00 $0.00 $0.00
16. TOTAL TAXES $0.00 $1,033.87 $1,033.87 $0.00
* The beginning tax liability should represent the liability from the prior
month or, if this is the first operating report, this amount should be
zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt
to verify payment or deposit. Schedule 7
CASE NAME: Venus Exploration, Inc ACCRUAL BASIS - 5
CASE: 02-13109-BP-11 6/20/03
The debtor in possession must complete the reconciliation below for each
bank account, including all general, payroll and tax accounts, as well as all
savings and investment accounts, money market accounts, certificates of deposit,
government obligations, etc. Accounts with restricted funds should be identified
by placing an asterisk next to the account number. Attach addition sheets if
necessary.
Month: May 2003
BANK RECONCILIATIONS Account #1 Account #2 Account #3
A. BANK Frost Frost Frost
B ACCOUNT NUMBER 01 0445703 01 0445606 01 0445681 TOTAL
C PURPOSE (TYPE): Regular Payroll Rental
1. BALANCE PER BANK STATEMENT 95,836.68 3,945.19 4,016.74 $103,798.61
2. ADD: TOTAL DEPOSITS NOT CREDITED $0.00
3. SUBTRACT: OUTSTANDING CHECKS (34,207.31) (1,415.78) (3,598.00) ($39,221.09)
4. OTHER RECONCILING ITEMS 683.56 $683.56
5. MONTH END BALANCE PER ITEMS $61,629.37 $3,212.97 $418.74 $65,261.08
6. NUMBER OF LAST CHECK WRITTEN 7910 105 1041
INVESTMENT ACCOUNTS Account #1 Account #2 Account #3
BANK , ACCOUNT NAME & NUMBER DATE OF PURCHASE TYPE OF INSTRUMENT PURCHASE PRICE CURRENT VALUE
7. ACCOUNT NUMBER
8. PURPOSE (TYPE):
9. BALANCE PER BANK STATEMENT
10. ADD: TOTAL DEPOSITS NOT CREDITED
11. TOTAL INVESTMENTS Schedule 6 $998.05
CASH
12. CURRENCY ON HAND $300.00
13. TOTAL CASH - END OF MONTH $66,559.13
CASE NAME: Venus Exploration, Inc ACCRUAL BASIS-6
CASE NUMBER: 02-13109-BP-11 6/20/03
MONTH: May, 2003
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 TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF
COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING
ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS
TYPE OF AMOUNT TOTAL PAID
NAME PAYMENT PAID TO DATE
1. Ames Energy Company Schedule 13 $0 $3,638
2. John Y Ames Schedule 13 $17,412 $28,211
3. Terry Hardeman Schedule 13 $8,775 $22,260
4. E L Ames, Jr Schedule 13 $1,444 $4,333
5.
6. TOTAL PAYMENTS
TO INSIDERS $27,631 $58,441
PROFESSIONALS
DATE OF COURT TOTAL
ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED
NAME PAYMENT APPROVED PAID TO DATE & UNPAID *
1. Ed Birkelo 4/22/2003 $4,150 $12,600 $0
2. Larry Bennett 4/22/2003 $2,835 $8,820 $840
3. Gloria Barrett 4/22/2003 $5,114 $10,220 $0
4. Alan Bailey 4/22/2003 $1,980 $6,930
5.
6. TOTAL PAYMENTS
TO PROFESSIONALS $14,079 $38,570 $840
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE
PROTECTION PAYMENTS
NAME OF CREDITOR SCHEDULED AMOUNTS
MONTHLY PAID TOTAL
PAYMENTS DURING UNPAID
DUE MONTH POSTPETITION
1. Frost Bank $7,866 $7,866 $0
2. North Frost Center $4,000 $4,000 $0
3. Alamo Leasing $2,813 $2,813 $0
4. Manifest Funding $1,596 $3,192 $0
5. GE Capital $305 $305 $0
6. TOTAL $16,580 $18,177 $0
CASE NAME: Venus Exploration, Inc ACCRUAL BASIS-7
CASE NUMBER: 02-13109-BP-11 6/20/03
MONTH: May, 2003
YES No
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE
THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X
2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT
OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X
3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR
LOANS) DUE FROM RELATED PARTIES? X
4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES
THIS REPORTING PERIOD? Schedule 9 X
5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE
DEBTOR FROM ANY PARTY? X
6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X
7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES
PAST DUE? X
8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X
9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X
10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS
11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE
REPORTING PERIOD? X
12. ARE ANY WAGE PAYMENTS PAST DUE? X
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED
EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE YES
1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER
NECESSARY INSURANCE COVERAGES IN EFFECT? X
2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X
3. PLEASE ITEMIZE POLICIES BELOW.
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES
HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN
EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
TYPE OF PAYMENT AMT
POLICY CARRIER PERIOD COVERED & FREQUENCY
Crime Policy Hartford Causality 7/1/00 - 6/30/03 Paid Up
Directors and Officers Liability XL Specialty Insurance Co 5/21/02 - 5/21/03 Paid Up
Commercial Fire Central Insurance Co 10/1/02 - 9/30/03 Paid Up
Control of Well St Paul Surplus Line Ins Co 8/1/02 - 7/31/03 5064.84 / Month
Umbrella St Paul Surplus Line Ins Co 8/1/02 - 7/31/03 Incld in above
Workman Compensation Texas Mutual 6/10/02 - 5/31/03 Paid Up
Auto Central Mutual Insurance Co 10/1/02 - 9/30/03 621.73 / Month
Note 1
An involuntary petition of bankruptcy was filed against Venus
Exploration, Inc on October 9, 2002 and Venus' response to such
petition was filed October 31, 2002. Venus subsequently filed a
"Notice of Consent to Entry of Order of Relief" on February 26,
2003. On February 27, 2003 the Court entered an order for relief
under Chapter 11 of the Bankruptcy Code. The March report covers
the period of February 28, 2003 through March 31, 2003.
Note 2
Venus maintains it books and accounting records on the accrual
method of accounting, and accordingly recognizes income in the
month oil and gas is produced. The income is not reported to
Venus and payment is not received for two months after
production. As of the date of this report, the production for
May was not known. We, therefore, accrued an estimated amount of
income based on historical production. Also, all expense amounts
for well operations were not available at the time of this
report and certain estimates were made.
After the April Monthly Operating Report was prepared, the
amount of production for March was enterred on the Company's
books. The difference between the year to date accrual and the
year to date actual is an adjustment to retained earnings. In
May the cummulative amount of adjustment was 9,243.06.
Schedule 1
May
Deferred Loan Costs 151,857.65
Amortization of Loan Costs (151,857.68)
Utility Deposit 6,545.00
-----------------------------
6,544.97
-----------------------------
Schedule 2
May
Rent Deposit 20,477.92
Deferred Federal Income Tax 1,475.00
Obligations Under Capital Lease 18,343.97
-----------------------------
40,296.89
-----------------------------
Schedule 3
Production Taxes 15,185.06
Lease Operating Expense 73,364.72
Geological and Geophysical 5,131.91
Abandonment Costs
-----------------------------
93,681.69
-----------------------------
Schedule 4
Interest Income 1,287.74
-----------------------------
1,287.74
-----------------------------
Schedule 5
As stated in Note 2, Venus maintains its books and records on
the accrual method of accounting. As such, each expense is
charged to its proper account as it is incurred, and payment is
made when such payment is due. The amount shown on Line 25 is
the total amount paid during May, except payroll and taxes which
are shown on Lines 12 and 13.
Schedule 6
The bank account reconciliations shown are the Debtor in
Possession accounts. Venus is in the process of closing its old
bank accounts. The amount shown, $998.05, is the balance of the
old accounts.
Schedule 7
Payroll taxes are paid by payroll preparation company, ADP.
Schedule 8
Delay Rental Collected from Partner 8,478.00
Overhead Collection Received 12,664.04
Collection on sale of license agreement 15,000.00
Expense Reimbursement 9,750.19
Void Checks 1,827.50
-------------------
47,719.73
-------------------
Schedule 9
Secured creditors were paid.
Schedule 10
Salaries 3,621.14
Payroll taxes 268.76
Misc. employee expense 2,498.96
Auto expense 4,180.02
Supplies 1,703.06
Bank fees 131.14
Legal & accounting serv. 9,957.46
Consultants 15,959.16
Rent 3,749.88
Travel & entertainment 233.61
Insurance 3,103.09
Telephone 1,215.11
Postage 782.02
Dues, subs & pubs (0.04)
Bankruptcy Expense 5,472.08
Other G&A 2,210.08
Corporate expenses (149.48)
Overhead/Fees (12,240.74)
-----------
Total 42,695.31
Less Amount reported on line 12 - Rent (3,749.88)
Less Amount reported on line 24 & 25
Reorganization Expenses (5,472.08)
------------
Amount reported on line 11 33,473.35
===========
Schedule 11
Amortization of prepaid loan costs 12,690.03
Amortization of prepaid D & O insurance 10,416.66
-----------
Total 23,106.69
===========
Schedule 12
Cost of transcripts from 2004 hearing 472.68
===========
Schedule 13 Current Month
-------------
Fee Health Ins Auto Total
---- ---------- ---- -----
Ames Energy 0.00 0.00
John Ames * 15,389.50 1,077.13 945.00 17,411.63
Terry Hardeman 8,775.00 8,775.00
E L Ames, Jr 0.00 466.17 978.00 1,444.17
----------------------------------------------------------------------
24,164.50 1,543.30 1,923.00 27,630.80
----------------------------------------------------------------------
Total to Date
Ames Energy 3,637.50 3,637.50
John Ames 22,144.95 3,231.39 2,835.00 28,211.34
Terry Hardeman 22,260.00 22,260.00
E L Ames, Jr 1,398.51 2,934.00 4,332.51
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48,042.45 4,629.90 5,769.00 58,441.35
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* Includes cash payments in May covering time charges for two weeks of April
and four weeks of May.