SEVEN SEAS PETROLEUM INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited; In thousands, except share data)
 
 
 THREE MONTHS ENDED NINE MONTHS ENDED
 SEPTEMBER 30, SEPTEMBER 30,
 2002 2001 2002 2001
 
 REVENUES
 Crude oil sales $6,112 $4,621 $19,572 $9,232
 Interest income 71 224 380 624
 6,183 4,845 19,952 9,856
 
 EXPENSES
 Oil and gas operating
 expenses 1,377 1,472 3,720  3,578
 Depletion, depreciation
 and amortization 2,618 1,298 6,867 2,721
 Interest expense 4,171 1,271 9,735 1,656
 General and
 administrative 736  1,097 3,004 4,208
 Other (income) expense 737 58 744 193
 Ceiling test impairment --- --- 128,228 ---
 Loss on legal settlement --- 1,000 --- 1,000
 9,639 6,196 152,298 13,356
 
 NET LOSS BEFORE
 INCOME TAXES (3,456) (1,351) (132,346) (3,500)
 INCOME TAX EXPENSE
 (BENEFIT) 2,088  --- (18,446) ---
 NET LOSS (5,544) (1,351) (113,900) (3,500)
 BASIC AND DILUTED
 NET LOSS PER COMMON
 SHARE $(.15) $(0.04) $(3.00) $(0.09)
 WEIGHTED AVERAGE
 COMMON SHARES
 OUTSTANDING 37,934,855 37,858,530 37,900,062 37,850,430