Velocity Energy Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2010	FY 2009	FY 2008	FY 2007	FY 2006
Period Ending	Mar '11 Mar 31, 2011	Dec '10 Dec 31, 2010	Dec '09 Dec 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007	Dec '06 Dec 31, 2006
Cash & Equivalents	0.01	0.02	0.29	0.19	2.2	-
Cash & Short-Term Investments	0.01	0.02	0.29	0.19	2.2	-
Cash Growth	-94.20%	-92.39%	49.23%	-91.13%	-	-
Receivables	0	0.03	0.09	0.44	2.9	-
Prepaid Expenses	0.01	0.01	0.01	0.07	0.15	-
Restricted Cash	-	-	-	3.7	-	-
Other Current Assets	-	-	0.02	1.08	-	-
Total Current Assets	0.02	0.06	0.4	5.48	5.25	-
Property, Plant & Equipment	1.61	1.62	3.41	6.52	5.86	-
Long-Term Deferred Charges	0.08	0.11	0.24	0.46	0.29	-
Total Assets	1.71	1.79	4.06	12.47	11.39	-
Accounts Payable	0.16	0.16	0.55	0.97	2.38	-
Accrued Expenses	0.42	0.02	0.01	0.18	0.27	-
Current Portion of Long-Term Debt	-	-	0.1	1.74	-	-
Other Current Liabilities	0.64	0.55	0.88	0.61	1.84	-
Total Current Liabilities	1.22	0.73	1.55	3.5	4.49	-
Long-Term Debt	12.59	12.46	14.83	9.1	7.99	-
Other Long-Term Liabilities	0.3	0.3	0.27	0.13	0.12	-
Total Liabilities	14.11	13.49	16.65	12.73	12.59	-
Common Stock	0.01	0.01	0.01	0.03	0.02	-
Additional Paid-In Capital	9.24	9.16	8.56	7.22	-	-
Retained Earnings	-21.67	-20.88	-21.18	-7.51	-1.21	-
Treasury Stock	-	-	-	-	-0	-
Comprehensive Income & Other	-	-	-	-	-0.01	-
Total Common Equity	-12.42	-11.72	-12.61	-0.26	-1.2	-
Shareholders' Equity	-12.4	-11.7	-12.59	-0.26	-1.2	-
Total Liabilities & Equity	1.71	1.79	4.06	12.47	11.39	-
Total Debt	12.59	12.46	14.93	10.84	7.99	-
Net Cash (Debt)	-12.58	-12.44	-14.64	-10.64	-5.79	-
Net Cash Per Share	-1.98	-1.96	-0.83	-0.41	-0.27	-
Filing Date Shares Outstanding	6.35	6.35	6.35	26.35	21.85	-
Total Common Shares Outstanding	6.35	6.35	6.35	26.35	21.85	-
Working Capital	-1.2	-0.67	-1.15	1.98	0.76	-
Book Value Per Share	-1.96	-1.85	-1.99	-0.01	-0.05	-
Tangible Book Value	-12.42	-11.72	-12.61	-0.26	-1.2	-
Tangible Book Value Per Share	-1.96	-1.85	-1.99	-0.01	-0.05	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.