UNITED STATES BANKRUPT(:Y COURT DISTRICT OF DELAWARE

In re: Cameras AcguisitionL Debtor

Case No. 09-10788 Reporting Period: April 2010

MONTHLY OPERATING REPORT

Docuinern IW()11Ifl.Ih IMMI 1It Schedule of Cash Receipts and Disbursements Bank Reconciliation (or copies of debtors bank reconciliations) Schedule of Professional Fees Paid Copies of bank statements Cash disbursements journals Statement of Operations Balance Sheet Status of Postpetition Taxes Copies otIRS Form 6123 or payment receipt Copies of tax returns filed during reporting period Summary of Unpaid Postpetition Debts Listing of aged accounts payable Accounts Receivable Reconciliation and Aging Debtor Questionnaire MOR-! MOR- I a MOR-lb
-

LNplaiiaiuii Affidvit/SuppIuniciii N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

/ /

MOR-2 MOR-3 MOR-4 _____________

-

N/A N/A V
/

MOR4 MOR-4 MOR-5 MOR-5

N/A N/A V
V V
/

I declare under penalty of peljury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

Signature of Debtor

Date

Signature of Joint Debtor

Date

tgnature of Authorized

May 25, 2010 Date

Jennifer Kuritz Printed Name of Authorized individual

Treasurer Title of Authorized Individual

*AulhOnzed individual insist be an officer, director or shareholder if dehtoi is corporalion, a paniter itdcbrcr is a partnership, a manager or member fdebmor is a limited liability company,

MOR (04/07)

In re: Cameros Aejsition Corp. Debtor

Case No 0-10798 Rponing Period: April 20 10

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

DlSRllRSNF FflO
(Al

THE FOLLOWING SECTION MUST BE COMPLETED rn orlw.e ii

morlo, -

$000 $000

TOTAL DISBURSEMENTS LESS TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS PLUS ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (,.o from
oocrow0000004o)

$0.00 $000

TOTAL DISBURSEMENTS FOR CALCULATFNG U.S. TRUSTEE QUARTERLY FEES

Fl Ri 5100-I 04071

In re; Carneros Ac q uisition Corn. Debtor

Case No 09-107118 Reporting Period Aprii 2010

RANK RECONCILIATIONS
Coacinucton Sheet for MOBOneratine Payroll Tax Other

BANK BALANCE
(-r)

I
:Cameros Acquisition Corp. does not maintain any cash accounts.

DEPOSITS IN TRANSI1 (ATTACH LIST)

(-) OUTSTANDING CHECKS (ATTACI-I UST) ADJUSTED BANK BALANCE Adjusted bank balance must equal balance per books
-

FORM MOO-lu (ObSil)

In re: Cameras Acquisition Corp. Debtor

Case No. 09-10788 Reporting Period: April 2010 SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAW

No profesional fees were paid post-petition.

FOR M N1OR-b (04!07)

In re: Carneros Acquisition Corp. Debtor

Case No. 09-10788

Repo rt ing Period: _April 2010

STATEMENT OF OPERATIONS
(income Statement)

Oil and gas production revenue Royalty payments Net Revenue Repairs and maintenance Salaries/commissions/fees Transportation expense Utilities Insurance Employee benefit programs Taxes - production Inventory change Rent and lease expense Travel and entertainment S upplies General and administrative Depreciation, depletion and amortization Net Profit (Loss) Before Other Income & Expenses Accretion of discounts and amortization of deferred financing costs Interest expense- non-cash - paid in kind Stock compensation expense I nterest and dividends Realized gain/(loss) on derivatives I nterest expense- cash Other revenue General exploration expense Net Profit (Loss) Before Reorganization Items
. ---------. .-; :0 :0.-.. --.0--j. ----------

-_-

-::---

----

kofessional Fees eorganization Interest let Profit (Loss)

FORM MOR-2
(04/07)

In re: Carneros Ace tuition l2nhtor

(pt-st.

Case No 09-10788

Roloufline Period Atril 2010

BALANCE slwhi

AS SF L. CL EMS1tJS Unrestricted Cash and Equivalents Restricted Cash and Cash Equivalents Accounts Receivable (Net) Inventories Prepaid Expenses Professional Retainers Other Coneist Assets (See Attached Schedule) TOTAL CURRENT ASSETS Proved Properties Including Lease and Well Equipment Asset Retirement Costs Process Development Unproved Properties Office Equipment and Software Vehicles Oilier Equipment and Leasehold Improvements Pipeline Equipment Less Accumulated Depreciation TOTAL PROPERTY& EQUIPMENT

bOUK .%U.F. AT END UI (URRI\ I RRPOR ILNC MONTH S

$

1840.096 1,840.096

iAAitILrrilss AND OWNER RQUIT IAIHLITI8:s NOT SLISJISI...0 UO.IPkOMiSI- tPustfleIILiuIIi ccounls Payable and Accrued Liabilities Taxes Payable Wages Payable Notes Payable - Debtor-in-possession financing Rent / Leases - Building/Equipment Secured Debt / Adequate Protection Pamenis Professional Fees Intercompany Puyables Asset Retirement Obligations Accrued Interest Other Liabilities TOTAL POSrPETITION LIABILITIES Secured Debt Priority Debt Unsecured Debt Intercompany Payables TOTAL PRE-PETITION LIABILITIES TOTAL LIABILITIES
OWNER EOFJflY

BOOK V.LL E AT END OF UIUENTREPOTING %IONTH S

-

S S
-

S ----$S

5,099.434 5,099,434 - - 5,099,434 100

-

--

Sltare Capital Contributed Surplus Warrants Additional Paid lit Capital Accumulated OtlterCoittprclsensive Loss Partners Capital Account Owners Equity Account Retained Earttintgs - Ore-Petition Retained Enritings - losrpeutiou Adjustment to owner Equity (attach schedule) Postpcttton Contributions (Distributions (Draws) (attach schedule) NET SHAREHOLDERS EQUITY , TOThLLIABUATIESANDOWNERS EQUITY

6,124,900
-

(9384,318)

(1,259,338) 1,840,096

FORM 1,4011-i 101(571

In re: Cameras Acquisition Corp. Debtor

Case No. 09-10788 Reporting Period: April 2010

BALANCE SHEET continuation sheet

Intercompany Receivables Derivative Assets Advances Other Receivables Total Other Current Assets

1,840,096
-

1,840,096

FORM MOR-3 CONTO (04/07)

In re: Cameros Acquisition Corp. Debtor

Case No. 09-10788 Reporting Period: April 2010

STATUS OF POSTPETITION TAXES

[withholding FICA-Employee FICA-Employer Unemployment Income Total Federa Taxes Withholding Sales Excise Unemployment Real Property Personal Property Total State and Local Total Taxes

I
Not Applicable

I I

I I

Not Applicable

SUMMARY OF UNPAID POSTPETITION DEBTS Number olflays Past Due

Cusrent Accounts Payable Wages Payable Taxes Payable Rent/Leases-Building Rent/Leases-Equipment Secured Debt/Adequate Protection Payments Professional Fees Total Postpetition Debts 0-30 31-60 B1-90 OverO
Tntsl

I
Not Applicable

FORM MOR-4 (04/07)

In re: Carnero . Acguisition Corp. Debtor

Case No. 09-10788 Reporting Period: April 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

Accounts Rceivble Reconciliation

Total Accounts Receivable at the beginning of the reporting period Amounts billed during the period - Amounts collected during the period Total Accounts Receivable at the end of the reporting period

Amount

I
Not Applicable

Accounis Receivable Aging

0 - 30 days old 31-60 days old 61 -90 days old 91 days old Total Accounts Receivable Accounts Receivable (Net)

Amount

Not Applicable

I
DEBTOR QUESTIONNAIRE cs!i\o
No No Yes Yes No

1ust be coimipleted cach month

1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes. provide an explanation below. 2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below. 3. Have all postpetition tax returns been timely filed? If no, provide an explanation below. 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. 5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.

FORM MOR-5 (04/07)