<PAGE>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(CONTINUED)
NOTE 14. OIL AND GAS OPERATIONS (UNAUDITED)--(CONTINUED)
COSTS INCURRED IN PROPERTY ACQUISITION,
EXPLORATION AND DEVELOPMENT ACTIVITIES
<TABLE>
<CAPTION>
UNITED
STATES BOLIVIA TOTAL
------ ------- -------
(IN THOUSANDS)
<S> <C> <C> <C>
1994
Expenditures:
Development......................................... $9,598 $2,195 $11,793
====== ====== =======
1993
Expenditures:
Acquisition of unproved properties.................. $ 12 $ 12
Development......................................... (466) (466)
------ -------
$ (454) $ (454)
====== =======
1992
Expenditures:
Acquisition of unproved properties.................. $ 18 $ 18
Development......................................... 3,945 3,945
------ -------
$3,963 $ 3,963
====== =======
</TABLE>
RESULTS OF OPERATIONS FOR OIL AND GAS PRODUCING ACTIVITIES
<TABLE>
<CAPTION>
UNITED
STATES BOLIVIA TOTAL
-------- ------- --------
(IN THOUSANDS)
<S> <C> <C> <C>
1994
Revenues........................................... $ 8,432 $ 4,117 $ 12,549
Production costs................................... 5,749 519 6,268
Depreciation, depletion and amortization........... 33,715 55 33,770
-------- ------- --------
Income before income taxes*........................ (31,032) 3,543 (27,489)
Income taxes....................................... (10,551) 1,205 (9,346)
-------- ------- --------
Net income *....................................... $(20,481) $ 2,338 $(18,143)
======== ======= ========
1993
Revenues........................................... $ 17,011 $ 3,178 $ 20,189
Production costs................................... 5,642 107 5,749
Depreciation, depletion and amortization........... 7,688 7,688
-------- ------- --------
Income before income taxes*........................ 3,681 3,071 6,752
Income taxes....................................... 1,252 1,044 2,296
-------- ------- --------
Net income *....................................... $ 2,429 $ 2,027 $ 4,456
======== ======= ========
1992
Revenues........................................... $ 19,984 $10,110 $ 30,094
Production costs................................... 7,877 56 7,933
Depreciation, depletion and amortization........... 10,303 10,303
-------- ------- --------
Income before income taxes*........................ 1,804 10,054 11,858
Income taxes....................................... 613 3,419 4,032
-------- ------- --------
Net income *....................................... $ 1,191 $ 6,635 $ 7,826
======== ======= ========
</TABLE>
- --------
* Before deducting selling, general, administrative and interest expenses.
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