Consolidated Financial Statements

Seven Seas Petroleum, Inc. And Subsidiaries
Consolidated Balance Sheets - December 31, 1996 And 1995
(In U.S. Dollars)

The accompanying notes are an integral part of these consolidated financial statements.

Seven Seas Petroleum, Inc. And Subsidiaries
Consolidated Statements of Operations And Cumulative Deficit
For The Year Ended December 31, 1996, And For The Period
From Inception (Februrary 3, 1995) Through December 31, 1995
(In U.S. Dollars)

The accompanying notes are an integral part of these consolidated financial statements.

Seven Seas Petroleum, Inc. And Subsidiaries
Consolidated Statements of Stockholders' Equity
For The Year Ended December 31, 1996, And For The Period
From Inception (Februrary 3, 1995) Through December 31, 1995
(In U.S. Dollars)

The accompanying notes are an integral part of these consolidated financial statements.

Seven Seas Petroleum, Inc. And Subsidiaries
Consolidated Statements of Cash Flows
For The Year Ended December 31, 1996, And For The Period
From Inception (Februrary 3, 1995) Through December 31, 1995
(In U.S. Dollars)

The accompanying notes are an integral part of these consolidated financial statements.