CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

JUDGE:

Mark X Mulhn

MONTH

ENDING:

June

2020

MONTH

YEAR

RESPONSIBLE PARTY:

Chief Restructurin£ Officer

ORIGINAL SIGNATURE OFREPONSIBLE PARTY

TITLE

Anthon}:'._ C. Schnur

7/20/2020

PRINTED NAME OF RESPONSIBLE PARTY

DATE

Controller

TITLE

Kimberly_ Thomen

7/20/2020

PRINTED NAME OF PREPARER

DATE

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

CASH RECEIPTS AND

Apr-20

May-20

Jun-20

DISBURSEMENTS

1. CASH - BEGINNING OF MONTH

$

655.03

$

(581.33

)

$

(581.33

)

RECEIPTS

2. CASH SALES

$

-

$

-

3. ACCOUNTS RECEIVABLE COLLECTIONS

$

-

$

-

$

4,026.12

4. LOANS AND ADVANCES

$

-

$

-

5. SALE OF ASSETS

$

-

$

-

6. LEASE & RENTAL INCOME

$

-

$

-

7. WAGES

$

-

$

-

8. OTHER (ATTACH LIST)

$

-

$

6,876.15

$

21,070.39

9. TOTAL RECEIPTS

$

-

$

6,876.15

$

25,096.51

DISBURSEMENTS

$

-

$

-

10. NET PAYROLL

$

-

$

-

11. PAYROLL TAXES PAID

$

-

$

-

12. SALES,USE & OTHER TAXES PAID

$

-

$

-

13. INVENTORY PURCHASES

$

-

$

-

14. MORTAGE PAYMENTS

$

-

$

-

15. OTHER SECURED NOTE PAYMENTS

$

-

$

-

16. RENTAL & LEASE PAYMENTS

$

-

$

-

17. UTILITIES

$

1,236.36

$

100.50

$

105.00

18. INSURANCE

$

-

$

-

19. VEHICLE EXPENSES

$

-

$

-

20. TRAVEL

$

-

$

-

21. ENTERTAINMENT

$

-

$

-

22. REPAIRS & MAINTENANCE

$

-

$

4,200.00

23. SUPPLIES

$

-

$

-

24. ADVERTISING

$

-

$

-

25. HOUSEHOLD EXPENSES

$

-

$

-

26. CHARITABLE CONTRIBUTIONS

$

-

$

-

27. GIFTS

$

-

$

-

28. OTHER (ATTACH LIST)

$

-

$

2,575.65

$

(381.33

)

29. TOTAL ORDINARY DISBURSEMENTS

$

1,236.36

$

6,876.15

$

(276.33

)

REORGANIZATION EXPENSES

30. PROFESSIONAL FEES

$

-

$

-

31. U.S. TRUSTEE FEES

$

-

$

-

32. OTHER (ATTACH LIST)

$

-

$

-

33. TOTAL REORGANIZATION EXPENSES

$

-

$

-

$

-

34. TOTAL DISBURSEMENTS

$

1,236.36

$

6,876.15

$

(276.33

)

35. NET CASH FLOW

$

(1,236.36

)

$

-

$

25,372.84

36. CASH - END OF MONTH

$

(581.33

)

$

(581.33

)

$

24,791.51

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

CASH DISBURSEMENTS DETAIL

MONTH:

June

CASH DISBURSEMENTS

DATE

PAYEE

PURPOSE

AMOUNT

TOTAL CASH DISBURSEMENTS

$

-

BANK ACCOUNT DISBURSEMENTS

CK#

DATE

PAYEE

PURPOSE

AMOUNT

51001

06/11/20

Vermilion Parish Clerk

Critical Vendor

$

105.00

TOTAL BANK ACCOUNT DISBURSEMENTS

$

105.00

TOTAL DISBURSEMENTS FOR THE MONTH

$

105.00

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

BANK RECONCILIATIONS

Acct #1

Acct #2

Acct #3

A. BANK:

Allegiance Bank

Allegiance Bank

Legacy Texas

TOTAL

B. ACCOUNT NUMBER:

2303

2337

2687

C. PURPOSE (TYPE):

Davis Operating

Davis Revenue

Davis Op. Acct

1. BALANCE PER BANK STATEMENT

$

-

$

-

$

-

$

-

2. ADD: TOTAL DEPOSITS NOT CREDITED

$

238.16

$

-

$

-

$

238.16

3. SUBTRACT: OUTSTANDING CHECKS

$

200.00

$

-

$

-

$

200.00

4. OTHER RECONCILING ITEMS

$

12,707.97

$

12,045.38

$

-

$

24,753.35

5. MONTH END BALANCE PER BOOKS

$

12,746.13

$

12,045.38

$

-

$

24,791.51

6. NUMBER OF LAST CHECK WRITTEN

51003

wire transfer

INVESTMENT ACCOUNTS

DATE OF

TYPE OF

PURCHASE

CURRENT

BANK, ACCOUNT NAME & NUMBER

PURCHASE

INSTRUMENT

PRICE

VALUE

7.

8.

9.

10.

11. TOTAL INVESTMENTS

$

-

$

-

CASH

12. CURRENCY ON HAND

$

-

13. TOTAL CASH - END OF MONTH

$

24,791.51

(1)

In April 2020, Yuma Energy was informed that it's primary banking institution, Legacy Texas, would close Yuma's accounts effective May 29, 2020. Even though Legacy Texas would be merging with Prosperity Bank on June 8, 2020, Prosperity Bank was not willing to accommodate Yuma Energy's DIP bank accounts. Yuma was required to seek a new banking institution willing to open DIP accounts for Yuma. Allegiance Bank agreed to open accounts for Yuma and subsidiaries on 5/26/20, with the accounts fully opened on 5/29/2020. The Yuma Companies Inc. opened account 100412237 with Allegiance Bank and transferred all funds from Davis Petroleum and Yuma E&P to the new The Yuma Companies DIP account.

(2)

Negative cash amount reflects prepetition checks which have not been voided.

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

ASSETS OF THE ESTATE

SCHEDULE "A"

SCHEDULE

Apr-20

May-20

Jun-20

REAL PROPERTY

AMOUNT

1. Total Current Assets

$

-

$

626,234.75

$

649,090.60

$

698,164.75

2. Net Oil and Gas Properties

$

-

$

4,342,755.22

$

4,342,755.22

$

4,342,755.22

3. Net Other Property

$

-

$

17,493.44

$

17,285.18

$

17,076.93

4. OTHER (ATTACH LIST)

$

5,314,612.00

$

1,025,099.43

$

1,025,099.43

$

1,025,099.43

5. TOTAL REAL PROPERTY ASSETS

$

5,314,612.00

$

6,011,582.84

$

6,034,230.43

$

6,083,096.33

SCHEDULE "B"

PERSONAL PROPERTY

1. CASH ON HAND

2. CHECKING, SAVINGS, ETC.

3. SECURITY DEPOSITS

4. HOUSEHOLD GOODS

5. BOOKS, PICTURES, ART

6. WEARING APPAREL

7. FURS AND JEWELRY

8. FIREARMS & SPORTS EQUIPMENT

9. INSURANCE POLICIES

10. ANNUITIES

11. EDUCATION

12. RETIREMENT & PROFIT SHARING

13. STOCKS

14. PARTNERSHIPS & JOINT VENTURES

15. GOVERNMENT & CORPORATE BONDS

16. ACCOUNTS RECEIVABLE

17. ALIMONY

18. OTHER LIQUIDATED DEBTS

19. EQUITABLE INTERESTS

20. CONTINGENT INTERESTS

21. OTHER CLAIMS

22. PATENTS & COPYRIGHTS

23. LICENSES & FRANCHISES

24. CUSTOMER LISTS

25. AUTOS, TRUCKS & OTHER VEHICLES

26. BOATS & MOTORS

27. AIRCRAFT

28. OFFICE EQUIPMENT

29. MACHINERY, FIXTURES & EQUIPMENT

30. INVENTORY

31. ANIMALS

32. CROPS

33. FARMING EQUIPMENT

34. FARM SUPPLIES

35. OTHER (ATTACH LIST)

$

704,038.99

36. TOTAL PERSONAL PROPERTY ASSETS

$

704,038.99

$

-

$

-

$

-

37. TOTAL ASSETS

$

6,018,650.99

$

6,011,582.84

$

6,034,230.43

$

6,083,096.33

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

MONTH:

June

LIABILITIES OF THE ESTATE

PREPETITION

SCHEDULE

LIABILITIES

AMOUNT

PAYMENTS

1. SECURED

$

-

$

-

2. PRIORITY

$

1,692,428.59

$

-

3. UNSECURED

$

2,189,469.96

$

-

4. OTHER (ATTACH LIST)

$

-

$

-

5. TOTAL PREPETITION LIABILITIES

$

3,881,898.55

$

-

POSTPETITION

DATE

AMOUNT

DUE

AMOUNT

LIABILITIES

INCURRED

OWED

DATE

PAST DUE

1. FEDERAL INCOME TAXES

2. FICA/MEDICARE

3. STATE TAXES

4. REAL ESTATE TAXES

5. OTHER TAXES (ATTACH LIST)

6. TOTAL TAXES

$

-

$

-

OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS)

7. Masters Creek Operator Services

05/01/20

$

1,800.00

05/31/20

$

1,800.00

8. Masters Creek Operator Services

05/01/20

$

1,200.00

05/31/20

$

1,200.00

9. Masters Creek Operator Services

05/01/20

$

1,200.00

05/31/20

$

1,200.00

10. Crimson Exploration Operating

5/8/20

$

14,369.19

06/08/20

$

14,369.19

11. Masters Creek Operator Services

05/26/20

$

2,400.00

06/25/20

$

2,400.00

12. Masters Creek Operator Services

05/27/20

$

2,400.00

06/26/20

$

2,400.00

13. Masters Creek Operator Services

05/28/20

$

2,400.00

06/27/20

$

2,400.00

14. Compuforms Data Products

6/4/20

$

410.24

07/04/20

$

410.24

15. Pleasure Island

06/01/20

$

87.50

07/01/20

$

87.50

16.

17.

18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

28.

29. (IF ADDITIONAL ATTACH LIST)

30. TOTAL OF LINES 7 - 29

$

26,266.93

$

26,266.93

31. TOTAL POSTPETITION LIABILITIES

$

26,266.93

$

26,266.93

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

MONTH:

June

ACCOUNTS RECEIVABLE AGING

SCHEDULE

AMOUNT

Apr-20

May-20

Jun-20

1. 0 - 30

$

3,305.11

$

3,305.11

$

32,624.18

$

(1,930.97)

2. 31 - 60

$

-

$

(2,430.81)

$

(184,577.13)

$

5,386.77

3. 61 - 90

$

-

$

(18,099.63)

$

-

$

(417.92)

4. 91 +

$

621,560.32

$

621,560.32

$

761,674.71

$

602,657.76

5. TOTAL ACCOUNTS RECEIVABLE

$

624,865.43

$

604,334.99

$

609,721.76

$

605,695.64

6. AMOUNT CONSIDERED UNCOLLECTIBLE

$

82,530.44

$

31,000.00

$

31,000.00

$

31,000.00

7. ACCOUNTS RECEIVABLE (NET)

$

542,334.99

$

573,334.99

$

578,721.76

$

574,695.64

AGING OF POSTPETITION TAXES

AND PAYABLES

0 - 30

DAYS

31-60

DAYS

90+

DAYS

Total

TAXES PAYABLE

1. FEDERAL

$

-

2. STATE

$

-

3. LOCAL

$

-

4. OTHER (ATTACH LIST)

$

-

5. TOTAL TAXES PAYABLE

$

-

$

-

$

-

$

-

6. ACCOUNTS PAYABLE

$

29,481.36

$

28,634.15

$

-

$

58,115.51

STATUS OF POSTPETITION TAXES

FEDERAL

BEGINNING

TAX LIABILITY

AMOUNT

WITHHELD OR ACCRUED

AMOUNT PAID

ENDING

TAX LIABILITY

1. WITHHOLDING

$

-

2. FICA-EMPLOYEE

$

-

3. FICA-EMPLOYER

$

-

4. UNEMPLOYMENT

$

-

5. INCOME

$

-

6. OTHER (ATTACH LIST)

$

-

7. TOTAL FEDERAL TAXES

$

-

$

-

$

-

$

-

STATE AND LOCAL

$

-

8. WITHHOLDING

$

-

9. SALES

$

-

10. EXCISE

$

-

11. UNEMPLOYMENT

$

-

12. REAL PROPERTY

$

-

13. PERSONAL PROPERTY

$

-

14. OTHER (ATTACH LIST)

$

-

15. TOTAL STATE & LOCAL

$

-

$

-

$

-

$

-

16. TOTAL TAXES

$

-

$

-

$

-

$

-

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

MONTH:

June

PAYMENTS TO INSIDERS AND PROFESSIONALS

INSIDERS

NAME

TYPE OF PAYMENT

AMOUNT PAID

TTL PD TO DATE

1.

2.

3.

4.

5.

TOTAL PAYMENTS TO INSIDERS

$                     -

$                     -

PROFESSIONALS

NAME

DATE OF COURT ORDER

AUTHORIZING PAYMENT

AMOUNT

APPROVED

AMOUNT

PAID

TTL PAID

TO DATE

TOTAL INCURRED

& UNPAID

1.

2.

3.

4.

5.

TOTAL PAYMENTS TO PROFESSIONALS

$                     -

$                     -

$                     -

$                     -

POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

NAME OF CREDITOR

SCHEDULED MONTHLY PAYMENTS

DUE

AMOUNTS PAID DURING

MONTH

TOTAL UNPAID POST-

PETITION

1.

2.

3.

4.

5.

6. TOTAL

$                     -

$                     -

$                     -

CASE NAME:

In re: Davis Petroleum Corp.

CASE NUMBER:

Case No. 20-41453-11

MONTH:

June

QUESTIONNAIRE

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?

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 DELINQUENT?

X

11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD?

X

12. ARE ANY WAGE PAYMENTS PAST DUE?

X

Agreed that payments would be made at sale closing which has been delayed.

INSURANCE

YES

NO

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

Agreed that payments would be made at sale closing, and sale closing has been delayed.

INSTALLMENT PAYMENTS

TYPE OF

POLICY

CARRIER

PERIOD

COVERED

PAYMENT AMOUNT

& FREQUENCY

Assets

Liabilities and Equity

Cash and cash equivalents

$

24,792

Current maturities‐bank debt

$

‐

Trade receivables

605,696

Notes payable‐ short term

‐

Joint venture partner rec

15,267

Current maturities‐other

‐

Oil and gas revenue

87,560

Current maturities debt

$

‐

Allowance ‐ trade A/R

(31,000)

Officers and employees

‐

Accounts payable ‐ trade

$

1,702,399

Other

54,336

Accounts payable ‐ officer

‐

Allowance ‐ other A/R

‐

JV Partner Advances

50,882

Prepaids

(58,486)

Oil & gas distribution payable

1,222,745

Deferred charges and other

‐

Intercompany advances, net

(2,401,682)

Total Current Assets

$

698,165

Accounts payable

$

574,344

Property and Equipment

Other deferred credits

$

‐

Not subject to amortization

$

245,779

Short term lease liability

201,739

Subject to amortization

432,753,686

Asset retirement obligations

‐

Depletion

(428,656,710)

Accrued expenses and other

1,056,088

Net Oil and Gas Properties

$

4,342,755

Total Current Liabilities

$

1,832,171

Construction in progress

$

‐

Bank debt

$

‐

Other property and equipment

24,990

Total Long‐Term Debt

$

‐

Accum DD&A other prop

(7,914)

Net Other Property

$

17,077

Other Long‐Term Liabilities

Asset retirement obligation

$

4,628,397

Other Assets

Long term lease liability

770,118

Receivables from affiliate

$

‐

Deferred rent credit

‐

Investment in subs & prtnshp

‐

Restricted stock units

‐

Deposits

53,242

Other

‐

Operating right‐of‐use leases

971,857

Total Other Long‐Term Liabilities

$

5,398,515

Public offering costs

‐

Other assets

‐

Total Liabilities

$

7,230,686

Total Other Assets

$

1,025,099

Equity

Total Assets

$

6,083,096

Common stock

$

‐

Preferred stock

‐

Capital in excess of par

34,359,856

Distributions

$

‐

Retained earnings

(34,713,542)

Current period income(loss)

(793,904)

Preferred stock accretion

-

Retained earnings

$

(35,507,446)

Treasury stock, at cost

$

‐

Total Equity

$

(1,147,590)

Total Liabilities and Equity

$

6,083,096

Beginning Balance

Receipts

$

(581.33)

Check Number

Date

Payor

Purpose

Type

Amount

N/A

06/01/20

Castex

Payment ‐ JIB

$

1,879.24

06/12/20

Compressed Air Systems

Voided Check

$

496.08

06/12/20

Jeff Davis Electric Coop

Voided Check

$

85.25

06/23/20

Wadi Petroleum

Payment ‐ JIB

$

933.73

06/23/20

Castex

Payment ‐ JIB

$

974.99

06/23/20

Balidor O&G

Revenue

$

499.51

06/23/20

Balidor O&G

Revenue

$

570.88

06/26/20

Castex

Payment ‐ JIB

$

238.16

06/30/20

Transfer from Yuma Companies

Internal Transfer

$

10,000.00

06/30/20

Transfer from Yuma Companies

Internal Transfer

$

10,000.00

Total

$

25,677.8

Disbursements

Check Number

Date

Payee

Purpose

Category

Amount

51001

06/11/20

Verizon Wireless

Critical Vendor

$

105.00

51003

06/12/20

State of Louisiana

Critical Vendor

$

200.00

Total

$

305.00

Ending Balance

$

24,791.51