<PAGE>
 
               UNAUDITED PRO FORMA CONDENSED STATEMENT OF INCOME
                    FOR THE NINE MONTHS ENDED JUNE 30, 1995
                  (IN THOUSANDS, EXCEPT FOR PER SHARE AMOUNTS)

<TABLE>
<CAPTION>
 
 
                                                            PRO FORMA ADJUSTMENTS
                                                         ----------------------------
                                                             ENERGY
                                            RESTATED       INDUSTRIES      CIMARRON
                                          HISTORICAL(1)       SALE           SALE      AS ADJUSTED
                                          -------------  --------------  ------------  ------------
<S>                                       <C>            <C>             <C>           <C>
Revenues                                      $179,708       $53,086      $57,829         $ 68,793
Operating income (loss)                         (6,701)        4,801         (482)         (11,020)
Income (loss) from continuing operations        (3,463)        1,760(2)      (635)(2)       (4,588)
Per common share income (loss) from              (0.11)         0.06        (0.02)           (0.15)
  continuing operations
Common stock dividends declared,                  ----          ----         ----             ----
  per share
</TABLE>

_______________________________
(1) The Company's historical results of operations for the nine months ended
    June 30, 1995 have been restated to reflect Energy Industries in continuing
    operations for the period.
(2) The pro forma adjustments include allocations of interest expense on general
    corporate debt of $1.2 million to Energy Industries and $370,000 to
    Cimarron.

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