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UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF LOUISIANA

IN RE: VIRGIN OFFSHORE USA, INC., DEBTOR

CASE NO. 11-13028 CHAPTER 11 JUDGE ELIZABETH W. MAGNER

NARRATIVE FOR MONTHLY OPERATING REPORT APRIL 2013

The work done by Trustee and counsel during the month of April 2013 involved, generally: 1. Address March 20, 2013 BSEE annual inspection meeting items including discussions with loop operator to prepare responses to INCs. 2. Finalize BOEM bond reduction submittals; prepare documentation and deliver reduction requests to BOEM. 3. Continued work with Plan Trust and RLI to clarify term sheet items regarding application of bond funds, payment of invoices and draw down of escrow accounts; prepare and revise Term Sheet Stipulation; coordinate execution of stipulation and review of Plan to incorporate clarifications. 4. Continued work with special counsel in D&O litigation to administer document production. 5. Address payment of annual inspection fees and cure payment to BOEM. 6. Continued addressing numerous administrative issues with operating oil and gas business namely monthly JIBs, lease renewals, insurance coverage, and regulatory issues.