CALIFORNIA PETROLEUM TRANSPORT CORP

CIK:0000923649|SEC Filings

Unaudited Statements of Operations and Retained Earnings (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenue
Interest income	$ 260	$ 427	$ 911	$ 1,483
Expenses reimbursed	5	3	13	12
Net operating revenues	265	430	924	1,495
Expenses
Administrative expenses	(5)	(3)	(13)	(12)
Amortization of debt issue costs	(57)	(21)	(99)	(63)
Interest expense	(203)	(406)	(812)	(1,420)
Total operating expenses	(265)	(430)	(924)	(1,495)
Net income	0	0	0	0
Retained earnings, beginning of period	0	0	0	0
Retained earnings, end of period	$ 0	$ 0	$ 0	$ 0

Unaudited Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Statement of Cash Flows [Abstract]
Net income	$ 0	$ 0
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred debt issue costs	99	63
Amortization of issue discount on loan receivable	(99)	(63)
Changes in operating assets and liabilities:
Interest receivable	0	203
Other current assets	0	11
Accrued interest	0	(203)
Other current liabilities	0	(11)
Net cash provided by operating activities	0	0
Cash flows from investing activities
Collections on Term Loans	9,525	9,526
Net cash provided by investing activities	9,525	9,526
Cash flows from financing activities
Repayment of Term Notes	(9,525)	(9,526)
Net cash used in financing activities	(9,525)	(9,526)
Net change in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	1	1
Cash and cash equivalents at end of period	1	1
Supplemental disclosure of cash flow information
Interest paid	$ 812	$ 1,217

Unaudited Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 1	$ 1
Current portion of Term Loans	9,525	9,526
Interest receivable	406	406
Other current assets	15	15
Total current assets	9,947	9,948
Term Loans, less current portion	0	9,426
Deferred charges	0	99
Total assets	9,947	19,473
Current liabilities:
Accrued interest	406	406
Current portion of Term Notes	9,525	9,526
Other current liabilities	15	15
Total current liabilities	9,946	9,947
Term Notes, less current portion	0	9,525
Total liabilities	9,946	19,472
Equity
Share capital	1	1
Total liabilities and equity	$ 9,947	$ 19,473