<PAGE>
ZAPATA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET
<TABLE>
<CAPTION>
JUNE 30, SEPTEMBER 30,
1995 1994
--------- -------------
(IN THOUSANDS)
<S> <C> <C>
ASSETS
Current assets:
Cash and cash equivalents............................ $ 4,081 $ 13,094
Restricted cash...................................... 77 779
Receivables.......................................... 31,228 39,595
Inventories:
Compressor equipment and components................. 24,174 17,629
Fish products....................................... 25,845 34,143
Gas liquids products................................ 656 414
Materials, parts and supplies....................... 3,456 3,601
Prepaid expenses and other current assets............ 4,269 2,609
--------- --------
Total current assets............................... 93,786 111,864
--------- --------
Investments and other assets:
Notes receivable..................................... -- 1,925
Investments.......................................... 2,100 14,471
Goodwill............................................. 25,438 26,105
Deferred income taxes................................ 5,968 2,915
Other assets......................................... 18,396 16,149
--------- --------
51,902 61,565
--------- --------
Property and equipment................................. 232,870 217,523
Accumulated depreciation............................... (108,972) (99,913)
--------- --------
123,898 117,610
--------- --------
Total assets....................................... $ 269,586 $291,039
========= ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current maturities of long-term debt................. $ 8,866 $ 3,009
Accounts payable and accrued liabilities............. 36,256 48,271
--------- --------
Total current liabilities.......................... 45,122 51,280
--------- --------
Long-term debt......................................... 61,948 69,078
--------- --------
Other liabilities...................................... 19,365 16,139
--------- --------
Stockholders' equity:
Preferred and preference stock....................... 3 2,258
Common stock......................................... 7,376 7,930
Capital in excess of par value....................... 129,344 138,293
Reinvested earnings from October 1, 1990............. 7,168 1,785
Investments unrealized gain (loss), net of taxes..... (740) 4,276
--------- --------
143,151 154,542
--------- --------
Total liabilities and stockholders' equity......... $ 269,586 $291,039
========= ========
</TABLE>
The accompanying notes are an integral part of the financial statements.
3
