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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
[ X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 333-26227
Golden State Petroleum Transport Corporation
(Exact name of Registrant as specified in its charter)
Delaware 13-392-7016
(State or other jurisdiction (I.R.S. Employer
of incorporation Identification No.)
or organization)
c/o Frontline Ltd., Mercury House, 101 Front Street, Hamilton,
Bermuda
(Address of principal executive offices)
(441) 295-6935
(Registrant's telephone number, including area code)
(Former name, former address and former fiscal year if changed
since last report)
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
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PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
Index to Consolidated Financial Statements
Statements of Operations and Retained Earnings
for the quarters and six months ended June 30, 2000 and 1999 3
Balance Sheets as of June 30, 2000 and December 31, 1999 4
Statements of Cash Flows for the six months ended June 30, 2000
and 1999 5
Notes to Financial Statements 6
2
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Statements of Operations and Retained Earnings
for the quarter and six months ended June 30, 2000 and 1999
(Unaudited)
Quarter Six months Quarter Six months
ended ended ended ended
June 30, 2000 June 30, 2000 June 30, 1999 June 30, 1999
Agency fees $ - $ - $ - $ -
---------- ---------- ---------- -----------
Expenses
Transaction
expenses - - - -
---------- ---------- ---------- -----------
Net income $ - $ - $ - $ -
========== ========== ========== ===========
Retained earnings,
beginning of
period $ - $ - $ - $ -
---------- ---------- ---------- -----------
Retained earnings,
end of period $ - $ - $ - $ -
---------- ---------- ---------- -----------
3
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Balance Sheets as of June 30, 2000 and December 31, 1999
(Unaudited)
June 30, December 31,
2000 1999
ASSETS
Cash $ 2 $ 2
Accounts receivable - -
--------- ----------
Total assets $ 2 $ 2
========= ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable $ - $ -
---------- ----------
Total liabilities - -
---------- ----------
Stockholders' equity
Common stock, no par value;
100 shares authorized;
2 shares issued
and outstanding 2 2
Retained earnings - -
---------- ----------
Total stockholders' equity 2 2
--------- ----------
Total liabilities and
stockholders' equity $ 2 $ 2
========== ==========
4
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Statements of Cash Flows
for the six months ended June 30, 2000 and 1999
(Unaudited)
2000 1999
Cash flows from operating activities
Net income $ - -
Change in operating assets and liabilities - -
----- -----
Net cash provided by operating activities - -
----- -----
Cash flows from financing activities
Capital contribution - -
----- -----
Net cash provided by financing activities - -
----- -----
Cash at beginning of period 2 2
----- -----
Cash at end of period 2 2
===== =====
5
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Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
Inapplicable
Item 3. Quantitative and Qualitative Disclosures about Market Risk.
Inapplicable
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
None
Item 2. Changes in Securities and Use of Proceeds.
Inapplicable
Item 3. Defaults Upon Senior Securities.
Inapplicable
Item 4. Submission of Matters to a Vote of Security Holders.
Inapplicable
Item 5. Other Information.
None
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits and reports to be filed: none
(b) Reports on Form 8-K: none
6
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Golden State Petroleum Transport Corporation
--------------------------------------------
(Registrant)
Date August 14, 2000 By /s/ Kate Blankenship
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Kate Blankenship
Director and Secretary
7
02089009.AB6