IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE

In re:

) Chapter 11
)

PACIFIC ENERGY RESOURCES LTD., etaL," ) Case No. 09-10785 (KJC) ) (Jointly Administered) Debtor. )

/ A( 5-

NOTICE OF NON-VOTING STATUS WITH RESPECT TO CLASSES DEEMED TO ACCEPT OR REJECT THE FIRST AMENDED CHAPTER 11 PLAN OF LIQUIDATION FOR PACIFIC ENERGY RESOURCES LTD., ET AL. TO: HOLDERS OF CLAIMS/INTERESTS IN CLASSES 1, 2,7 THROUGH 10
PLEASE TAKE NOTICE that on August 27, 2010, the debtors-in-possession (collectively, the "Debtors") filed the First Amended Chapter 11 Plan of Liquidation for Pacific Energy Resources Ltd., et al. dated August 27, 2010 (including all exhibits thereto and as amended, modified or supplemented from time to time, the "Plan") [Docket No. 1845]. PLEASE TAKE FURTHER NOTICE that on August 27, 2010, the United States Bankruptcy Court for the District of Delaware (the "Court") entered an order (the "Disclosure Statement Order") [Docket No. 1846] approving the adequacy of the Disclosure Statement in Respect of First Amended Chapter 11 Plan of Liquidation for Pacific Energy Resources Ltd., et al. approved by order of the United States Bankruptcy Court for the District of Delaware (the "Disclosure Statement") [Docket No. 1846] and establishing procedures for soliciting votes on the Plan. PLEASE TAKE FURTHER NOTICE that in accordance with the terms of the Plan and Bankruptcy Code, Class 1 and 2 Claims against the Debtors are unimpaired and, therefore, pursuant to Section 1126(f) of the Bankruptcy Code, the holders of Class 1 and 2 Claim are conclusively presumed to have accepted the Plan and are not entitled to vote on the Plan. PLEASE TAKE FURTHER NOTICE that in accordance with the terms of the Plan and the Bankruptcy Code, holders of Class 7 through 9 Claims against the Debtors and holders of Class 10 Interests in the Debtors will receive no recovery under the Plan and, therefore, pursuant to Section 1126(g) of the Bankruptcy Code, are conclusively presumed to have rejected the Plan and are not entitled to vote on the Plan. You have been sent this notice because you have been identified as a holder of a Claim or Interest in Class 1, 2, or 7 through 10.

" The Debtors in these cases, along with the last four digits of each of the Debtors federal tax identification number, are: Pacific Energy Resources Ltd. (3442); Petrocal Acquisition Corp. (6249); Pacific Energy Alaska Holdings, LLC (tax I.D. # not available); Cameros Acquisition Corp. (5866); Pacific Energy Alaska Operating LLC (7021); Cameros Energy, Inc. (9487); and Gotland Oil, Inc. (5463). The mailing address for all of the Debtors is Ill W. Ocean Boulevard, Suite 1240, Long Beach, CA 90802.

PLEASE TAKE FURTHER NOTICE that below is a summary of the treatment of Claims and
Interests under the Plan: Ethtd\ . lai Priority Non-Tax Claims 2 Miscellaneous Secured Claims
Ptage. ER 0

$o

100% 100%

Paid in full in Cash on the Effective Date or as soon thereafter as Allowed. Distribution equivalent to value of collateral. The Debtors are not aware of any Miscellaneous SecuredClaims. Each Holder of an Allowed Senior Lender Claim shall receive any and all rights, Claims and Liens in the Excluded Interests to which such Holder of an Allowed Senior Lender Claims is entitled pursuant to the terms of the Beta Sale Order. The value of the "Excluded Interests" shall be liquidated in the amount of $35,000,000. Each Holder of an Allowed General Unsecured Claim against agast PERL will receive a pro rata share (calculated as a percentage of Allowed General Unsecured Claims against PERL) of the Net Distributable Assets of PERL. Each Holder of an Allowed General Unsecured Claim against PEAR will receive a pro rata share (calculated as a percentage of Allowed General Unsecured Claims against PEAH) of the Net Distributable Assets _of PEAR, _if any. Each Holder of an Allowed General Unsecured Claim against PEAO will receive a pro rata share (calculated as a percentage of Allowed General Unsecured Claims against PEAO) of the Net Distributable Assets of PEAO, if any. On the Effective Date, the Chapter 11 Cases of Petrocal, Cameros Acquisition, Cameros Energy and Gotland shall be deemed dismissed because such Debtors have no assets, and Holders of Allowed General Unsecured Claims against such Debtors, if any, shall receive no distribution. Intercompany Claims shall be extinguished on the Effective Date and receive no distribution. Holders of Subordinated Debt Claims shall receive no distribution. All Interests in all of the Debtors shall be extinguished.

Senior Lender Claims

$75,000,000

Value of collateral

General Unsecured Claims against PERL General enera Unsecured Claims against PEAR General Unsecured Claims against PEAO
.

$13.5 million

to $27.3 million

to 17.7% 12

$21 million

0% plus 13

$105 million to $275 million

0% to 1.0% plus

8 9

General Unsecured Claims against Petrocal, Cam Acquisition, Cameros Energy and Gotland Intercompany Claims Subordinated Debt Claims Interests in the Debtors

N/A

$0 N/A N/A

N/A N/A N/A

These projections assume that the claims of Forest Oil Corporation against PERL are subordinated, as currently groposed under the Plan Recoveries at PEAR and PEAO depend upon the outcome of litigation against third parties, if any.

12

PLEASE TAKE FURTHER NOTICE that a hearing to consider confirmation of the Plan will be held on October 12, 2010 commencing at 1:00 p.m.. prevailing Eastern Time (the "Confirmation Hearing") before the Honorable Kevin J. Carey, United States Bankruptcy Judge, at the United States Bankruptcy Court for the District of Delaware, 824 Market Street, 5th Floor, Courtroom 5, Wilmington, Delaware 19801. The Confirmation Hearing may be continued from time to time without further notice except for (i) an announcement made at the Confirmation Hearing or any adjourned confirmation hearing or (ii) a written notice filed with the Bankruptcy Court and served on all parties who have filed objections to confirmation of the Plan, the United States Trustee, the counsel for the Committee and all parties who have requested notice in these chapter 11 cases pursuant to Bankruptcy Rule 2002. PLEASE TAKE FURTHER NOTICE that objections, if any, to the confirmation of the Plan must: (i) be in writing; (ii) state the name and address of the objecting party and the nature of the claim or interest of such party; (iii) state with particularity the basis and nature of any objection; and (iv) be filed with the Court and served so as to be received on or before September 29, 2010 by: (a) counsel to the Debtors (I) Pachuiski Stang Ziehi & Jones LLP, 919 North Market Street, 17 0 Floor, Wilmington, DE 19899-8705, Attn: James E. ONeill, Esq.; Fax: 302-652-4400, e-mail: joneilIpszj1aw.com and (2) Pachulski Stang Ziehl & Jones LLP, 10100 Santa Monica Blvd., 11 th Floor, Los Angeles, CA 900674100; Attn: Ira D. Kharasch, Esq; Fax: 310-201-0760, e-mail: ikharasch@pszjlaw.com; (b) counsel to the Debtors lenders: J. Axon & Company (1) Bingham McCutchen, 399 Park Avenue, New York, NY 10022, Attn: Jeffrey Sabin, Esq.; Fax: 212-752-5378, e-mail: jeffrey.sabinbingham.com and (2) Bingham McCutchen, One Federal Street, Boston, MA 01221-1726, Attn: Amy Kyle, Fax: 617-3455001, e-mail: amy.kylebingham.com , and Silver Point Finance: Skadden, Arps, Slate, Meagher & Flom, LLP, 333 West Wacker Drive, Chicago, IL 60606-1285, Attn: Seth Jacobson, Esq.; Fax: 312407-8511, e-mail: seth.jacobson@skadden.com; (c) the Office of the United States Trustee, J. Caleb Boggs Federal Building, 844 N. King Street, Suite 2207, Lock Box 35, Wilmington, Delaware 19801; and (d) counsel for the Official Committee of Unsecured Creditors (the "Committee"), (1) Steptoe & Johnson LLP, 2121 Avenue of the Stars, 28th Floor, Los Angeles, CA 90067; Attn: Katherine C. Piper, Esq., Fax: (310) 734-3173, e-mail: kpiper@steptoe.com and (2) Pepper Hamilton LLP, Hercules Plaza, Ste 5100, 1313 N. Market Street, Wilmington, DE 19801; Attn: James C. Carignan, Esq., Fax: (302) 421-8390, e-mail: jcarignanpepperlaw.com . For purposes of filing pleadings in these cases, the address of the Court is 824 North Market Street, 3" Floor, Wilmington, Delaware 19801. PLEASE TAKE FURTHER NOTICE that this notice is provided to you for informational purposes only. Any party in interest wishing to obtain copies of the Disclosure Statement or the Plan may do so by (i) calling Omni Management, the Notice and Balloting Agent, at (8 18) 906-8300 or (ii) viewing such documents by accessing the Notice and Balloting Agents website: http://omnimgt.com/PaeificEnergy or the Courts website: www.deb.uscourts.gov . Please note that a PACER password and login are needed to access documents on the Courts website.

Dated: September 1, 2010

PAC SKI STANG ZJEHL & JONES LLP

Ira D. Kharasch (CA Bar No109084) James E. ONeill (Bar No. 4042) Maxim B. Litvak (CA Bar No. 215852) Scotta E. McFarland (DE Bar No. 4184) 919 N. Market Street, 17th Floor Wilmington, DE 19801 Telephone: 302/652-4100 Facsimile: 302/652-4400 Email: ikharasch @ pszjlaw.com joneill @ pszjlaw.com mlitvak@pszjlaw.com smcfariand @ pszjlaw.com

~~%j

Counsel for the Debtors and Debtors in Possession