| Balance Sheet for Petrosearch Energy Corp. (PTSG) | | | | | | | Assets | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Cash and Equivalents | 8,034 | 3,716 | 4,053 | 1,101 | | Marketable Securities | - | - | - | - | | Receivables | 527 | 647 | 1,354 | 1,825 | | Inventories | - | - | - | - | | Other Current Assets | 523 | 235 | - | - | | Total Current Assets | 9,548 | 5,127 | 5,924 | 3,314 | | | Gross Fixed Assets | 40,488 | 29,921 | 15,510 | 9,108 | | Accumulated Depreciation | (3,267) | (2,357) | (1,966) | (2,165) | | Net Fixed Assets | 37,222 | 27,564 | 13,544 | 6,943 | | Intangibles | - | - | - | - | | Other Non-Current Assets | 2,267 | 671 | 148 | 148 | | Total Non-Current Assets | 39,489 | 28,235 | 13,692 | 7,092 | | Total Assets | 49,037 | 33,363 | 19,616 | 10,406 | | | Liabilities | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Accounts Payable | 960 | 1,063 | 562 | 847 | | Short Term Debt | 2,066 | 2,162 | 908 | - | | Other Current Liabilities | 321 | 318 | - | - | | Total Current Liabilities | 7,309 | 5,485 | 2,220 | 5,076 | | | Long Term Debt | 21,534 | 9,030 | 2,537 | - | | Deferred Income Tax | - | - | - | - | | Other Non-Current Liabilities | - | 907 | 670 | - | | Minority Interest | - | - | - | - | | Total Non-Current Liabilities | 21,534 | 9,937 | 3,208 | - | | Total Liabilities | 28,843 | 15,422 | 5,427 | 5,076 | | | Preferred Stock Equity | 526 | 526 | 526 | 526 | | Common Stock Equity | 19,667 | 17,415 | 13,662 | 4,804 | | Total Equity | 20,194 | 17,941 | 14,189 | 5,330 | | Total Liabilities & Stock Equity | 49,037 | 33,363 | 19,616 | 10,406 | | | |
