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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 81 / 83

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Edgar Filing: TIDELANDS

OIL & GAS CORP/WA - Form 10-K

the Gas Project which would be under the Tidelands' Note, Reef a guaranty of payment and p "Partnership Guaranty"), and Partnership pledges to Impact it

exercisabl guarantee, erformance

e

by Impact only upon default

or Reef Deed of Trust.

from

the

Partnership

(ii) (the

(iii) a pledge agreement whereby s 98% membership interest in Reef.

the

Minority Interest

The remaining unaffiliated

two percent (2%) third party. No va

of lue

Reef Ventures, or allocation of

LP, net

is owned by an income or loss

will been

be attributed recovered.

until

the

tot

al

investment

by

existing

ownership

has

  • -

    30-

TIDELANDS OIL & GAS CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2005, 2004 (RESTATED) AND 2003

NOTE 16 - SEGMENT REPORTING

-------

-----------------

The following table is a summary of the financial information by major segment:

results

of

operations

and

other

Revenue

$

1,630,246

$

231,077

$

--

$

1,861,323

Depreciation

$

116,853

$

305,313

$

63,315

$

485,481

Propane Sales

Pipeline

and Related

Transportation

All Other

Services

Fees

and Corporate

Interest

$

2,514

Operating (Loss)

$

(380,900)

Total Assets

$

2,997,001

2005

Total

$

--

$

(164,523)

$

608,849

$(12,765,170) $ 4,870,312

$

611,363

$(13,310,593) $ 13,488,849

$

5,621,536

Revenue

$

438,611

$

1,400,227

$

--

$

1,838,838

Depreciation

$

20,158

$

178,099

$

46,632

$

244,889

Interest

$

300

$

--

$

300,266

$

300,566

Operating Income (Loss)

$

98,229

$

(141,502)

$(29,699,024)

$(29,742,297)

Total Assets

$

2,775,281

$

5,881,774

$ 13,765,611

$ 22,422,666

2003

There was no segment reporting in 2003.

2004

Propane Sales and Related Services

Total

Natural Gas Sales and Pipeline Transportation Fees

All Other and Corporate

NOTE 17 -------

  • -

    SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

----------------------------------------------------

(Dollars in thousands, except share and per share data)

The

following

tables

present

our

selected

consolidated

financial

information

as

81

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