<PAGE>


                              ZAPATA CORPORATION
                                 BALANCE SHEET
                                    ASSETS
                                (in thousands)

<TABLE>
<CAPTION>
 
 
                                          December 31,   September 30,
                                              1993            1993
                                          -------------  --------------
<S>                                       <C>            <C>
Current assets:
    Cash and cash equivalents                 $ 22,040        $ 15,273
 
    Restricted cash and temporary
       investments                                 ---          75,083
 
    Receivables                                 33,809          28,321
 
    Inventories
       Fish products                            31,370          33,504
       Compressor equipment and
         components                             17,622             ---
 
       Gas liquids products                      1,023           1,271
       Materials, parts and supplies             3,322           3,392
 
    Prepaid expenses and other current
       assets                                    2,842           2,280
                                              --------        --------
 
       Total current assets                    112,028         159,124
                                              --------        --------
Investments and other assets:
    Investments in unconsolidated
       affiliates                               12,293          56,289
 
    Goodwill                                    27,591           7,781
 
    Deferred income taxes                        6,821             ---
 
    Other assets                                17,833          21,686
                                              --------        --------
                                                64,538          85,756
                                              --------        --------
 
Property and equipment                         193,891         141,393
 
Less accumulated depreciation                  (44,519)        (41,156)
                                              --------        --------
                                               149,372         100,237
                                              --------        --------
      Total assets                            $325,938        $345,117
                                              ========        ========
 
</TABLE>

         (The accompanying notes are an integral part of the financial
                                 statements.)

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