FORM 10-Q -- QUARTERLY REPORT UNDER SECTION 13
                 OR 15(d) OF THE SECURITES EXCHANGE ACT OF 1934

(Mark One)
[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities  Exchange
    Act of 1934 For the quarterly period ended   March 31, 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:       333-83815
                              ---------

                              COSO FINANCE PARTNERS
                              ---------------------
             (Exact name of registrant as specified in its charter)

                California                           68-0133679
                ----------                           ----------
    (State or other jurisdiction of             (I.R.S. Employer
     incorporation or organization)             Identification No.)

   1114 Avenue of the Americas, 41st Floor, New York, New York      10036-7790
   -----------------------------------------------------------      ----------
          (Address of principal executive offices)                  (Zip Code)

                                 (212) 921-9099
                                 --------------
              (Registrant's telephone number, including area code)

                                 Not Applicable
                                 --------------
                     (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.         [ X]  Yes       [   ] No


                      APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of
common  stock, as of the latest practicable date.

                                 Not Applicable
                                 --------------




                             COSO FINANCE PARTNERS
                                   Form 10-Q
                      For the Quarter Ended March 31, 2000



PART I.  FINANCIAL INFORMATION                                         Page No.

ITEM 1.  Financial Statements


         CAITHNESS COSO FUNDING CORP.
         Unaudited condensed balance sheet at March 31, 2000 and
           December 31, 1999                                                  4
         Unaudited condensed statement of operations for the period
           ended March 31, 2000                                               5
         Unaudited condensed statement of cash flows for the period
           ended March 31, 2000                                               6
         Notes to the unaudited condensed financial statements                7

         COSO FINANCE PARTNERS
         Unaudited condensed combined balance sheets at March 31, 2000
           and December 31, 1999                                              8
         Unaudited condensed combined statements of operations for
           the three months ended March 31, 2000, the two months ended
           February 28, 1999, the one month ended March 31, 1999 and the
           three months ended March 31, 1999                                  9
         Unaudited  condensed  combined  statements  of  cash flows for the
           three months ended March 31, 2000, the two months ended
           February 28, 1999,  the one month ended March 31, 1999, and the
           three months ended March 31, 1999.                                10
         Notes to the unaudited condensed combined financial statements      11

         COSO ENERGY DEVELOPERS
         Unaudited condensed balance sheets at March 31, 2000
           and December 31, 1999                                             12
         Unaudited condensed statements of operations for the three
           months ended March  31,  2000,  the  two  months  ended
           February 28, 1999, the one month ended March 31, 1999 and
           the three months ended March 31, 1999                             13
         Unaudited condensed statements of cash flows for the three months
           ended March 31, 2000, the two months ended February 28, 1999,
           the one month ended March 31, 1999, and the three months
           ended March 31, 1999.                                             14
         Notes to the unaudited condensed financial statements               15

                                       2

         COSO POWER DEVELOPERS
         Unaudited condensed balance sheets at March 31, 2000
           and December 31, 1999                                             16
         Unaudited condensed statements of operations for the three
           months  ended  March  31,  2000,  the  two  months  ended
           February 28, 1999, the one month ended March 31, 1999 and
           the three months ended March 31, 1999                             17
         Unaudited condensed statements of cash flows for the three months
           ended March 31, 2000, the two months ended February 28, 1999,
           the one month ended March 31, 1999, and the three
           months ended March 31, 1999.                                      18
         Notes to the unaudited condensed financial statements               19

ITEM 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations                                 20

PART II. OTHER INFORMATION

ITEM 1.  Legal Proceedings                                                   28
ITEM 2.  Change in Securities and Use of Proceeds                            29
ITEM 3.  Defaults upon Senior Securities                                     29
ITEM 4.  Submission of Matters to a Vote of Security Holders                 29
ITEM 5.  Other Information                                                   29
ITEM 6.  Exhibits and Reports on Form 8-K                                    29

                                       3
<PAGE>



<TABLE>
<CAPTION>

                                             CAITHNESS COSO FUNDING CORP.
                                          UNAUDITED CONDENSED BALANCE SHEET
                                               (Dollars in thousands)

<S>                                                       <C>                <C>


                                                                 March 31,      December 31,
                                                                   2000            1999
                                                                                  (Note)
Assets:
   Accrued interest receivable............................      $   9,221       $   1,392
   Project loan to Coso Finance Partners..................        145,994         151,550
   Project loan to Coso Energy Developers.................        103,795         107,900
   Project loan to Coso Power Developers..................        110,546         153,550
                                                                  -------         -------
                                                                $ 369,556       $ 414,392
                                                                  =======         =======

Liabilities and Stockholders' Equity:
   Senior secured notes:
      Accrued interest payable............................      $   9,221       $   1,392
      6.80% notes due 2001................................         57,335         110,000
      9.05% notes due 2009................................        303,000         303,000
                                                                  -------         -------
Total liabilities.........................................        369,556         414,392
Stockholders' equity......................................          ---             ---
                                                                  -------         -------
                                                                $ 369,556       $ 414,392
                                                                  =======         =======

Note:    The condensed  balance sheet at December 31, 1999 has been derived from
         the audited financial  statements at that date but does not include all
         of  the  information  and  footnotes  required  by  generally  accepted
         accounting principles for complete financial statements.




          See accompanying notes to the unaudited condensed financial statements
</TABLE>

                                       4
<PAGE>


                          CAITHNESS COSO FUNDING CORP.
                   UNAUDITED CONDENSED STATEMENT OF OPERATIONS
                             (Dollars in thousands)


                                                          Three Months
                                                             Ended
                                                           March 31,
                                                             2000


Interest income......................................    $     9,221
Interest expense.....................................         (9,221)
                                                             -------
   Net income........................................    $      ---
                                                             =======







   See accompanying notes to the unaudited condensed financial statements



                                       5
<PAGE>


                          CAITHNESS COSO FUNDING CORP.
                   UNAUDITED CONDENSED STATEMENT OF CASH FLOWS
                             (Dollars in thousands)


                                                         Three Months
                                                            Ended
                                                          March 31,
                                                             2000



Cash flows from investing activities.................    $  52,665
Cash flows from financing activities.................      (52,665)
                                                           -------
                                                             ---
   Net change in cash................................    $ =======







    See accompanying notes to the unaudited condensed financial statements



                                        6
<PAGE>


                          CAITHNESS COSO FUNDING CORP.
              NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS



(1)      Organization and Operations

Caithness Coso Funding Corp. (Funding Corp.) was incorporated on April 22, 1999,
in Delaware.  Funding Corp. is a special purpose corporation that was formed for
the purpose of issuing senior secured notes on behalf of Coso Finance  Partners,
Coso  Energy  Developers  and Coso  Power  Developers  (the Coso  partnerships),
affiliates  of Funding Corp.  Funding Corp.  has loaned all of the proceeds from
the offering of 6.80%  senior  secured  notes due 2001 and 9.05% senior  secured
notes due 2009 (a total of $413 million) to the Coso partnerships,  and the Coso
partnerships  have jointly and severally  guaranteed on a senior  secured basis,
repayment of the senior secured notes.

Funding  Corp.  has no  material  assets  other than the loans,  and the accrued
interest thereon,  that have been made to the Coso  partnerships.  Also, Funding
Corp. does not conduct any business, other than issuing the senior secured notes
and making the loans to the Coso partnerships.

(2)      Basis of Presentation

The accompanying  unaudited condensed financial statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information.  Accordingly, certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  have been  condensed or omitted  pursuant to such rules.
Management  believes that the  disclosures  are adequate to make the information
presented not misleading when read in conjunction with the financial  statements
and the notes  thereto in the audited  financial  statements  for the year ended
December 31, 1999.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected for the full year.

                                       7
<PAGE>
<TABLE>
<CAPTION>


                                                COSO FINANCE PARTNERS
                                     UNAUDITED CONDENSED COMBINED BALANCE SHEETS
                                               (Dollars in thousands)


                                                                                   March 31,       December 31, 1999
                                                                                      2000              (Note)
                                                                                  (New Basis)

<S>                                                                                   <C>               <C>
Assets:
   Cash.......................................................................        $  13,334         $  7,821
   Restricted cash and investments............................................           20,051           25,001
   Accounts receivable........................................................            2,888            5,154
   Prepaid expenses & other assets............................................               46              --
   Amounts due from related parties...........................................            2,460            4,508
   Property, plant & equipment, net...........................................          154,318          153,879
   Power purchase agreement, net..............................................           13,101           13,388
   Investment in China Lake Plant Services, Inc...............................            4,196            4,212
   Deferred financing costs, net..............................................            3,619            3,749
                                                                                        -------          -------
                                                                                      $ 214,013        $ 217,712
                                                                                        =======          =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities...................................        $  14,536        $  16,236
   Amounts due to related parties.............................................            3,735              564
   Project loan...............................................................          145,994          151,550
                                                                                       --------          -------
                                                                                        164,265          168,350
Partners' capital.............................................................           49,748           49,362
                                                                                       --------          -------
                                                                                      $ 214,013        $ 217,712
                                                                                       ========          =======



Note:    The condensed  balance sheet at December 31, 1999 has been derived from
         the audited financial  statements at that date but does not include all
         of  the  information  and  footnotes  required  by  generally  accepted
         accounting principles for complete financial statements.




            See accompanying notes to the unaudited condensed combined financial statements
</TABLE>

                                       8
<PAGE>
<TABLE>
<CAPTION>


                                                COSO FINANCE PARTNERS
                                UNAUDITED CONDENSED COMBINED STATEMENTS OF OPERATIONS
                                               (Dollars in thousands)


                                              Three Months      Two Months        One Month      Three Months
                                                  Ended           Ended             Ended            Ended
                                                March 31,      February 28,       March 31,        March 31,
                                                  2000            1999              1999              1999
                                               (New Basis)     (Old Basis)       (New Basis)

<S>                                            <C>             <C>               <C>           <C>
  Revenue:
    Energy revenues.........................   $  7,725        $   8,098         $  4,399       $     12,497
    Capacity................................      1,255              474              237                711
    Interest and other income...............        323              824              827              1,651
                                                 ------           ------          -------             ------
        Total revenue.......................      9,303            9,396            5,463             14,859


  Operating expenses:
     Plant operating expenses...............      2,072            3,125            1,458              4,583
     Royalty expense........................      1,189              987              451              1,438
     Depreciation and amortization..........      2,353            1,604              783              2,387
                                                 ------           ------          -------             ------
        Total operating expenses............      5,614            5,716            2,692              8,408


        Operating income....................      3,689            3,680            2,771              6,451


  Other expenses:
      Interest expense......................      3,173              663            1,630              2,293
      Costs related to acquisition debt             130              ---              ---                ---
                                                 ------           ------           ------             ------
        Total other expenses................      3,303              663            1,630              2,293


        Net income..........................   $    386        $   3,017         $  1,141         $    4,158
                                                 ======           ======           ======             ======










                   See accompanying notes to the unaudited condensed combined financial statements

</TABLE>
                                       9
<PAGE>
<TABLE>
<CAPTION>


                                                COSO FINANCE PARTNERS
                                UNAUDITED CONDENSED COMBINED STATEMENTS OF CASH FLOWS
                                               (Dollars in thousands)


                                                         Three Months      Two Months     One Month     Three Months
                                                             Ended            Ended         Ended          Ended
                                                           March 31,       February 28,    March 31,     March 31,
                                                              2000            1999           1999           1999
                                                          (New Basis)      (Old Basis)    (New Basis)


<S>                                                          <C>           <C>            <C>            <C>

Net cash provided by operating activities..............     $  8,624       $  6,592       $  2,665        $  9,257
Net cash provided by (used in) investing activities....        2,445           (538)          (397)           (935)
Net cash provided by (used in) financing activities....       (5,556)        (1,926)           ---          (1,926)
                                                             -------         ------         ------          ------
Net change in cash and cash equivalents................     $  5,513       $  4,128       $  2,268        $  6,396
                                                             =======         ======         ======          ======








                   See accompanying notes to the unaudited condensed combined financial statements

</TABLE>
                                       10
<PAGE>


                              COSO FINANCE PARTNERS
                        NOTES TO THE UNAUDITED CONDENSED
                          COMBINED FINANCIAL STATEMENTS

(1)      Organization and Operation

Coso Finance Partners (CFP), a general partnership,  is engaged in the operation
of a 80 MW power generation facility located at the China Lake Naval Air Weapons
Station,  China Lake California.  CFP sells all electricity produced to Southern
California Edison under a 24-year power purchase contract expiring in 2011.

(2)      Basis of Presentation

The accompanying  unaudited  condensed combined  financial  statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information. Accordingly, certain information and footnote disclosures
normally included in financial  statements prepared in accordance with generally
accepted  accounting  principles have been condensed or omitted pursuant to such
rules.  Management  believes  that  the  disclosures  are  adequate  to make the
information presented not misleading when read in conjunction with the financial
statements  and the notes thereto in the audited  financial  statements  for the
year ended December 31, 1999.

On May 27, 1999 Coso Finance  Partners II was merged into Coso Finance  Partners
to form one partnership.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected  for  the  full  year.  CFP  has  experienced   significant   quarterly
fluctuations  in  operating  results and it expects that these  fluctuations  in
energy revenues, expenses and net income will continue.

(3)      Acquisition

On  February  25,  1999,   Caithness   Acquisition   Company,   LLC   (Caithness
Acquisition),  a wholly owned subsidiary of Caithness Energy LLC,  purchased all
of CalEnergy Company Inc.'s (CalEnergy)  interest in CFP for approximately $62.0
million.  The  acquisition was accounted for under the purchase  method,  and no
goodwill was recorded.  After  Caithness  Acquisition's  purchase of CalEnergy's
interest  in CFP, a new basis of  accounting  was  adopted and is referred to as
"New  Basis" as  compared  to the former cost basis which is referred to as "Old
Basis" in the  financial  statements.  The purchase  price was  allocated to the
portion of the assets and liabilities  purchased from CalEnergy based upon their
fair  values,  with the  amount  of fair  value of net  assets  in excess of the
purchase price being allocated to long-lived assets on a pro-rata basis.

In order to complete  the  purchase of  CalEnergy's  interest in CFP,  Caithness
Acquisition  arranged  for  short-term  debt  financing of  approximately  $77.6
million.  This  short-term debt was repaid on May 28, 1999 from a portion of the
proceeds from the offering of senior secured notes (see note 4).

(4)      Debt Financing

On May 28, 1999 Caithness Coso Funding Corp. loaned approximately $151.6 million
to CFP from a portion of the proceeds from the offering of senior secured notes.
The loan  consists  of one note of $29.0  million at 6.80% and another of $122.6
million at 9.05% with maturity dates of December 15, 2001 and December 15, 2009,
respectively.  All prior  project  loans of  approximately  $180.0  million were
repaid from the proceeds of the  financing  and an  extraordinary  loss from the
early  extinguishment of this debt was incurred for approximately  $2.4 million.
The extraordinary  loss was due to a premium and other costs incurred to pay the
prior project loans before maturity.

                                       11
<PAGE>
<TABLE>
<CAPTION>


                                               COSO ENERGY DEVELOPERS
                                         UNAUDITED CONDENSED BALANCE SHEETS
                                               (Dollars in thousands)


                                                                                   March 31,         December 31,
                                                                                     2000                1999
                                                                                  (New Basis)           (Note)

<S>                                                                             <C>                 <C>

Assets:
   Cash...................................................................      $    14,937          $    6,423
   Restricted cash and investments........................................            5,916               9,806
   Accounts receivable....................................................            5,444               6,095
   Prepaid expenses and other assets......................................              146                 100
   Amounts due from related parties.......................................            1,123                 761
   Property, plant and equipment, net.....................................          162,964             165,650
   Power purchase agreement, net..........................................           20,281              20,549
   Investment in Coso Transmission Line Partners..........................            2,981               2,981
   Investment in China Lake Plant Services, Inc...........................            1,262               1,228
   Deferred financing costs, net..........................................            2,718               2,798
                                                                                    -------             -------
                                                                                $   217,772          $  216,391
                                                                                    =======             =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities...............................      $     6,028          $    6,681
   Amounts due to related parties.........................................           24,972              22,460
   Project loan...........................................................          103,795             107,900
                                                                                    -------             -------
                                                                                    134,795             137,041
   Partners' capital......................................................           82,977              79,350
                                                                                    -------             -------
                                                                                 $  217,772          $  216,391
                                                                                    =======             =======





Note:    The condensed  balance sheet at December 31, 1999 has been derived from
         the audited financial  statements at that date but does not include all
         of  the  information  and  footnotes  required  by  generally  accepted
         accounting principles for complete financial statements.




                  See accompanying notes to the unaudited condensed financial statements

</TABLE>
                                       12
<PAGE>
<TABLE>
<CAPTION>


                                               COSO ENERGY DEVELOPERS
                                     UNAUDITED CONDENSED STATEMENT OF OPERATIONS
                                               (Dollars in thousands)



                                              Three Months        Two Months          One Month      Three Months
                                                 Ended               Ended               Ended           Ended
                                               March 31,          February 28,          March 31,      March 31,
                                                 2000                1999                 1999           1999
                                             (New Basis)          (Old Basis)         (New Basis)


<S>                                           <C>                 <C>                <C>              <C>

Revenue:
   Energy revenues......................      $ 5,953             $ 16,716             $ 3,434         $ 20,150
   Capacity.............................        1,227                  817                 410            1,227
   Interest and other income............        5,315                   78                 118              196
                                              -------             --------             -------           ------
      Total revenue.....................       12,495               17,611               3,962           21,573


Operating expenses:
  Plant operating expenses..............        2,539                4,039               1,604            5,643
  Royalty expense.......................           65                1,592                 347            1,939
  Depreciation and amortization.........        3,876                2,550               1,175            3,725
                                               ------               ------              ------           ------
       Total operating expenses.........        6,480                8,181               3,126           11,307


       Operating income.................        6,015                9,430                 836           10,266


Other expenses:
   Interest expense.....................        2,308                  616               1,233            1,849
   Costs related to acquisition debt....           80                  ---                ---              ---
                                               ------             --------             -------          -------
    Total other expenses................        2,388                  616               1,233            1,849


      Net income (loss).................      $ 3,627            $   8,814            $   (397)       $   8,417
                                               ======             ========             =======          =======









                       See accompanying notes to the unaudited condensed financial statements

</TABLE>
                                       13
<PAGE>
<TABLE>
<CAPTION>


                                               COSO ENERGY DEVELOPERS
                                    UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
                                               (Dollars in thousands)

                                                           Three Months     Two Months       One Month       Three Months
                                                              Ended           Ended            Ended            Ended
                                                            March 31,       February 28,      March 31,        March 31,
                                                              2000              1999           1999             1999
                                                           (New Basis)      (Old Basis)     (New Basis)



<S>                                                        <C>               <C>            <C>              <C>

Net cash provided by operating activities..............     $   9,651         $  10,367      $  6,595        $ 16,962
Net cash provided by (used in) investing activities....         2,968               120          (294)           (174)
Net cash provided by (used in) financing activities....        (4,105)              425          (198)            227
                                                              -------           -------        ------          ------

Net change in cash and cash equivalents................     $   8,514         $  10,912       $ 6,103        $ 17,015
                                                              =======           =======        ======          ======










                       See accompanying notes to the unaudited condensed financial statements

</TABLE>
                                       14
<PAGE>


                             COSO ENERGY DEVELOPERS
              NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

(1)      Organization and Operation

Coso Energy Developers (CED), a general partnership, is engaged in the operation
of a 80 MW power generation facility located at the Coso Hot Springs, China Lake
California.  CED sells all electricity  produced to Southern  California  Edison
under a 24-year power purchase contract expiring in 2019.

(2)      Basis of Presentation

The accompanying  unaudited condensed financial statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information.  Accordingly, certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  have been  condensed or omitted  pursuant to such rules.
Management  believes that the  disclosures  are adequate to make the information
presented not misleading when read in conjunction with the financial  statements
and the notes  thereto in the audited  financial  statements  for the year ended
December 31, 1999.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected  for  the  full  year.  CED  has  experienced   significant   quarterly
fluctuations  in  operating  results and it expects that these  fluctuations  in
energy revenues, expenses and net income will continue.

(3)      Acquisition

On  February  25,  1999,   Caithness   Acquisition   Company,   LLC   (Caithness
Acquisition),  a wholly owned subsidiary of Caithness Energy LLC,  purchased all
of CalEnergy Company, Inc.'s (CalEnergy) interest in CED for approximately $69.0
million.  The  acquisition was accounted for under the purchase  method,  and no
goodwill was recorded.  After  Caithness  Acquisition's  purchase of CalEnergy's
interest  in CED, a new basis of  accounting  was  adopted and is referred to as
"New  Basis" as  compared  to the former cost basis which is referred to as "Old
Basis" in the  financial  statements.  The purchase  price was  allocated to the
portion of the assets and liabilities  purchased from CalEnergy based upon their
fair  values,  with the  amount  of fair  value of net  assets  in excess of the
purchase price being allocated to long-lived assets on a pro-rata basis.

In order to complete  the  purchase of  CalEnergy's  interest in CED,  Caithness
Acquisition  arranged  for  short-term  debt  financing of  approximately  $55.2
million.  This  short-term debt was repaid on May 28, 1999 from a portion of the
proceeds from the offering of senior secured notes (see note 4).

 (4)     Debt Financing

On May 28, 1999 Caithness Coso Funding Corp. loaned approximately $107.9 million
to CED from a portion of the proceeds from the offering of senior secured notes.
The loan  consists of one note of $11.65  million at 6.80% and another of $96.25
million at 9.05% with maturity dates of December 15, 2001 and December 15, 2009,
respectively. All prior project loans of approximately $93.2 million were repaid
from the  proceeds of the  financing  and an  extraordinary  loss from the early
extinguishment  of this debt was incurred for  approximately  $1.8 million.  The
extraordinary  loss was due to a premium  and other  costs  incurred  to pay the
prior project loans before maturity.

                                       15
<PAGE>
<TABLE>
<CAPTION>


                                                COSO POWER DEVELOPERS
                                         UNAUDITED CONDENSED BALANCE SHEETS
                                               (Dollars in thousands)


                                                                                   March 31,            December 31,
                                                                                      2000                  1999
                                                                                  (New Basis)              (Note)


<S>
Assets                                                                              <C>                   <C>
   Cash.....................................................................      $     22,653         $     6,020
   Restricted cash and investments..........................................            11,516              54,338
   Accounts receivable......................................................             5,598              20,540
   Prepaid expenses and other assets........................................                46                 ---
   Amounts due from related parties.........................................             7,540               7,058
   Property, plant and equipment, net.......................................           144,521             147,522
   Power purchase agreement, net............................................            27,712              28,409
   Investment in Coso Transmission Line Partners............................             3,660               3,660
   Investment in China Lake Plant Services, Inc.............................             2,079               2,098
   Deferred financing costs, net............................................             3,432               3,624
                                                                                      --------            --------
                                                                                   $   228,757         $   273,269
                                                                                      ========            ========

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities.................................       $    10,425         $    12,163
   Amounts due to related parties...........................................             3,262               3,225
   Project loan.............................................................           110,546             153,550
                                                                                      --------            --------
                                                                                       124,233             168,938
Partners' capital...........................................................           104,524             104,331
                                                                                      --------            --------
                                                                                   $   228,757         $   273,269
                                                                                      ========            ========



Note:    The condensed  balance sheet at December 31, 1999 has been derived from
         the audited financial  statements at that date but does not include all
         of  the  information  and  footnotes  required  by  generally  accepted
         accounting principles for complete financial statements.





          See accompanying notes to the unaudited condensed financial statements
</TABLE>

                                       16
<PAGE>
<TABLE>
<CAPTION>


                                                COSO POWER DEVELOPERS
                                    UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
                                               (Dollars in thousands)


                                                    Three Months         Two Months           One Month            Three Months
                                                        Ended              Ended                Ended                 Ended
                                                      March 31,          February 28,          March 31,            March 31,
                                                        2000                1999                1999                  1999
                                                     (New Basis)         (Old Basis)         (New Basis)
<S>                                                  <C>                 <C>                 <C>                   <C>

Revenue:
   Energy revenues..............................     $   8,554           $ 16,687             $ 6,716               $ 23,403
   Capacity.....................................         1,234                822                 412                  1,234
   Interest and other income....................           529                150                 156                    306
                                                        ------             ------              ------                -------
     Total revenue..............................        10,317             17,659               7,284                 24,943


Operating expenses:
   Plant operating expenses.....................         2,105              3,195               1,293                  4,488
   Royalty expense..............................         1,775              1,806               1,064                  2,870
   Depreciation and amortization................         3,698              2,339               1,188                  3,527
                                                       -------           --------            --------                -------
     Total operating expenses...................         7,578              7,340               3,545                 10,885


     Operating income...........................         2,739             10,319               3,739                 14,058


Other expenses:
   Interest expense.............................         2,354                953               1,792                  2,745
   Costs related to acquisition debt............           192                ---                 ---                    ---
                                                        ------            -------             -------                -------
      Total other expenses......................         2,546                953               1,792                  2,745


      Net income................................       $   193          $   9,366           $   1,947             $   11,313
                                                        ======           ========            ========              =========










                       See accompanying notes to the unaudited condensed financial statements

</TABLE>
                                       17
<PAGE>
<TABLE>
<CAPTION>


                                                COSO POWER DEVELOPERS
                                    UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
                                               (Dollars in thousands)



                                                            Three Months     Two Months      One Month         Three Months
                                                                Ended          Ended           Ended               Ended
                                                              March 31,     February 28,     March 31,            March 31,
                                                                2000            1999           1999                 1999
                                                            (New Basis)     (Old Basis)     (New Basis)


<S>                                                         <C>             <C>              <C>                <C>
Net cash provided by operating activities..............     $  16,815       $  12,016        $  6,265            $  18,281
Net cash provided by (used in) investing activities....        42,822          (1,126)           (218)              (1,344)
Net cash provided by (used in) financing activities....       (43,004)          1,766             518                2,284
                                                             --------         -------         -------              -------
Net change in cash and cash equivalents................     $  16,633       $  12,656        $  6,565            $  19,221
                                                             ========         =======         =======              =======













                       See accompanying notes to the unaudited condensed financial statements

</TABLE>
                                       18
<PAGE>


                              COSO POWER DEVELOPERS
              NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS

(1)      Organization and Operation

Coso Power Developers (CPD), a general partnership,  is engaged in the operation
of a 80 MW power generation facility located at the Coso Hot Springs, China Lake
California.  CPD sells all electricity  produced to Southern  California  Edison
under a 24-year power purchase contract expiring in 2010.

(2)      Basis of Presentation

The accompanying  unaudited condensed financial statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information.  Accordingly, certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  have been  condensed or omitted  pursuant to such rules.
Management  believes that the  disclosures  are adequate to make the information
presented not misleading when read in conjunction with the financial  statements
and the notes  thereto in the audited  financial  statements  for the year ended
December 31, 1999.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected  for  the  full  year.  CPD  has  experienced   significant   quarterly
fluctuations  in  operating  results and it expects that these  fluctuations  in
energy revenues, expenses and net income will continue.

(3)      Acquisition

On  February  25,  1999,   Caithness   Acquisition   Company,   LLC   (Caithness
Acquisition),  a wholly owned subsidiary of Caithness Energy LLC,  purchased all
of CalEnergy Company, Inc.'s (CalEnergy) interest in CPD for approximately $75.0
million.  The  acquisition was accounted for under the purchase  method,  and no
goodwill was recorded.  After  Caithness  Acquisition's  purchase of CalEnergy's
interest  in CPD, a new basis of  accounting  was  adopted and is referred to as
"New  Basis" as  compared  to the former cost basis which is referred to as "Old
Basis" in the  financial  statements.  The purchase  price was  allocated to the
portion of the assets and liabilities  purchased from CalEnergy based upon their
fair  values,  with the  amount  of fair  value of net  assets  in excess of the
purchase price being allocated to long-lived assets on a pro-rata basis.

In order to complete  the  purchase of  CalEnergy's  interest in CPD,  Caithness
Acquisition  arranged  for  short-term  debt  financing of  approximately  $78.6
million.  This  short-term debt was repaid on May 28, 1999 from a portion of the
proceeds from the offering of senior secured notes (see note 4).

(4)      Debt Financing

On May 28, 1999 Caithness Coso Funding Corp. loaned approximately $153.6 million
to CPD from a portion of the proceeds from the offering of senior secured notes.
The loan  consists  of one note of $69.4  million at 6.80% and  another  note of
$84.2 million at 9.05% with maturity dates of December 15, 2001 and December 15,
2009, respectively. All prior project loans of approximately $139.9 million were
repaid from the proceeds of the  financing  and an  extraordinary  loss from the
early  extinguishment of this debt was incurred for approximately  $2.1 million.
The extraordinary  loss was due to a premium and other costs incurred to pay the
prior project loans before maturity.

                                       19

ITEM 2.   Management's Discussion and Analysis of Financial Condition and
          Results of Operations

         Except for  historical  financial  information  contained  herein,  the
matters  discussed in this  quarterly  report may be considered  forward-looking
statements  within the meaning of Section 27A of the  Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and
subject to the safe harbor  created by the Securities  Litigation  Reform Act of
1995.  Such  statements  include  declarations  regarding the intent,  belief or
current  expectations of Caithness Coso Funding Corp.  ("Funding  Corp."),  Coso
Finance  Partners ("the Navy I Partnership"),  Coso Energy  Developers ("the BLM
Partnership"),  and  Coso  Power  Developers  ("the  Navy II  Partnership",  and
together  with  the  Navy I  Partnership  and the  BLM  Partnership  (the  "Coso
Partnerships")  and  their  respective  management.   Any  such  forward-looking
statements  are not  guarantees  of future  performance  and involve a number of
risks and  uncertainties;  actual  results  could differ  materially  from those
indicated by such forward-looking  statements.  Among the important factors that
could cause actual  results to differ  materially  from those  indicated by such
forward-looking  statements  are: (i) that the  information  is of a preliminary
nature  and may be  subject to  further  adjustment,  (ii) risks  related to the
operation  of power  plants,  (iii) the impact of  avoided  cost  pricing,  (iv)
general  operating risks,  (v) the dependence on third parties,  (vi) changes in
government regulation,  (vii) the effects of competition,  (viii) the dependence
on  senior   management,   (ix)   fluctuations  in  quarterly  results  and  (x)
seasonality.

General

         The Coso projects consist of three 80MW geothermal power plants,  which
are referred to as Navy I, BLM and Navy II, and their transmission lines, wells,
gathering  system and other  related  facilities.  The Coso projects are located
near one another at the United  States  Naval Air Weapons  Center at China Lake,
California.  The Navy I partnership owns Navy I and its related facilities.  The
BLM  partnership  owns BLM and its related  facilities.  The Navy II partnership
owns Navy II and its related facilities. Affiliates of Caithness Corporation and
CalEnergy Company, Inc. ("CalEnergy"),  which is now known as MidAmerican Energy
Holdings  Company,  formed  the  Coso  partnerships  in the  1980s  to  develop,
construct,  own and operate the Coso  projects.  On February 25, 1999  Caithness
Acquisition  Company,  LLC,  purchased all of CalEnergy's  interests in the Coso
projects for $205.0 million in cash,  plus $5.0 million in contingent  payments,
plus the assumption of CalEnergy's and its affiliates' share of debt outstanding
at the Coso projects which then totaled approximately $67.0 million.

         Each Coso partnership  sells 100% of the electrical energy generated at
its plant to Southern  California Edison  ("Edison") under a long-term  Standard
Offer No.4 power purchase agreement. Each Partnership's power purchase agreement
expires after the final  maturity date of the 6.8% Series B Senior Secured Notes
due 2001 and the 9.05% Series B Senior  Secured Notes due 2009 issued by Funding
Corp.

         Each Coso partnership  receives the following  payments under its power
purchase agreement:

o    Capacity payments for being able to produce  electricity at certain levels.
     Capacity  payments are fixed throughout the life of each power purchase
     agreement;

o    Capacity  bonus  payments  if the  Coso  partnership  is  able  to  produce
     electricity  above a specified  higher level.  The maximum annual  capacity
     bonus  payment  available is also fixed  throughout  the life of each power
     purchase agreement; and

o    Energy  payments  which  are  based on the  amount  of electricity the Coso
     partnership's plant actually produces.

                                       20

       Energy  payments  are fixed  for the first ten years of firm  operation
under each power purchase  agreement.  Firm operation was achieved for each Coso
partnership  when Edison and that Coso  partnership  agreed that each generating
unit at such Coso  partnership's  plant was a reliable  source of generation and
could  reasonably be expected to operate  continuously at its effective  rating.
After the first ten years of firm operation and until a Coso partnership's power
purchase agreement expires, Edison makes energy payments to the Coso partnership
based on Edison's  "avoided cost of energy".  Edison's avoided cost of energy is
Edison's  cost to  generate  electricity  if Edison  were to produce  the energy
itself  or buy it from  another  power  producer  rather  than  buy it from  the
relevant  Coso  partnership.  The  power  purchase  agreement  for  the  Navy  I
partnership will expire in August 2011, the power purchase agreement for the BLM
partnership  will expire March 2019,  and the power  purchase  agreement for the
Navy II  partnership  will expire in January 2010. The fixed energy price period
in  the  power  purchase  agreement  expired  in  August  1997  for  the  Navy I
partnership,  in March 1999 for the BLM  partnership and in January 2000 for the
Navy II partnership.

         The Coso Partnerships have implemented a steam-sharing  program,  which
they established under a Coso Geothermal Exchange Agreement they entered into in
1994.  The purpose of the steam sharing  program is to enhance the management of
the Coso geothermal  resource and to optimize the resource's overall benefits to
the Coso Partnerships by transferring  steam among the Coso projects.  Under the
steam-sharing  program,  the  partnership  receiving the steam  transfer  splits
revenue earned from electricity  generated with the partnership that transferred
the steam.

         For the three months  ended March 31, 2000 (and since  January 12, 2000
for the Navy II  partnership),  Edison's  average avoided cost of energy paid to
the Navy I, the BLM and the Navy II  Partnerships  was 3.25(cent) per kWh, which
is substantially  below the fixed energy prices earned by the partnerships prior
to the  expiration of the fixed energy price periods of their  respective  power
purchase  agreements.  It is not  possible to predict the likely level of future
avoided cost of energy prices.

         The Coso Partnerships are required to make royalty payments to the Navy
and the Bureau of Land  Management.  The Navy I  partnership  pays a royalty for
Unit I through  reimbursement of electricity supplied to the Navy by Edison from
electricity  generated  at the Navy I  plant.  The  reimbursement  is based on a
pricing  formula that is included in the Navy  Contract.  For Units 2 and 3, the
Navy I partnership's  royalty expense paid to the Navy is a fixed  percentage of
electricity  sales at 15% of revenue received by the Navy I partnership  through
2003 and will increase to 20% from 2004 through 2009. The BLM partnership pays a
10%  royalty  to the  Bureau  of Land  Management  based  on the  value of steam
produced.  The Navy II  partnership  pays a royalty to the Navy based on a fixed
percentage  of  electricity  sales to  Edison.  The  royalty  rate was  10.0% of
electricity sales through 1999, and increased to 18.0% for 2000 through 2004 and
will increase to 20.0% from 2005 through the end of the contract term.

       Coso Funding  Corp is a special  purpose  corporation  and a wholly owned
subsidiary  of the Coso  partnerships.  It was formed for the purpose of issuing
the  senior  secured  notes  on  behalf  of  the  Coso  partnerships.  The  Coso
partnerships have jointly,  severally, and unconditionally  guaranteed repayment
of the senior secured notes.

       On May 28, 1999, Coso Funding Corp. issued $110.0 million of 6.80% senior
secured notes due in 2001 and $303.0  million of 9.05% senior  secured notes due
in 2009.  The proceeds from the notes were loaned to the Coso  partnerships  and
are payable to Coso Funding Corp from  payments of principal and interest on the
notes.  Coso  Funding  Corp.  does not conduct any other  operations  apart from
issuing the notes.

       Under the note agreement, the Coso partnerships established accounts with
a  depositary  and pledged  those  accounts  as security  for the benefit of the
holders of the senior secured notes.  All amounts  deposited with the depositary
are, at the direction of the Coso  partnerships,  invested by the  depositary in
permitted  investments.  All revenues or other proceeds actually received by the
Coso  partnerships are deposited in a revenue account and withdrawn upon receipt
by the depositary of a certificate from the relevant Coso partnerships detailing
the amounts to be paid from funds in its respective revenue account.

                                       21

Capacity Utilization

         For  purposes  of  consistency  in  financial  presentation,  the plant
capacity factor for each of the Coso partnerships is based on a nominal capacity
amount of 80MW  (240MW in the  aggregate).  The Coso  partnerships  have a gross
operating  capacity that allows for the  production of  electricity in excess of
their nominal capacity amounts.  Utilization of this operating capacity is based
upon a number of factors and can be expected to vary  throughout  the year under
normal operating conditions.

         The following data includes the operating capacity factor, capacity and
electricity  production  (in kWh) for each  Coso  partnership  on a  stand-alone
basis:

                                                     Three Months Ended
                                                           March 31


                                                  2000                1999
                                                  ----                ----
   Navy I Partnership (stand alone)
     Operating capacity factor                    113.3%              74.8%
     Capacity (MW) (average)                      90.62              59.81
     kWh produced (000s)                        197,916            129,141

   BLM Partnership (stand alone)
     Operating capacity factor                    106.3%             110.6%
     Capacity (MW) (average)                      85.06              88.51
     kWh produced (000s)                        185,858            191,056

   Navy II Partnership (stand alone)
     Operating capacity factor                    113.9%             112.7%
     Capacity (MW) (average)                      91.08              90.19
     kWh produced (000s)                        198,906            194,718


         The Navy I partnership's  energy  production for the three months ended
March 31, 2000,  was 197.9  million kWh as compared to 129.1 million kWh for the
same period in 1999,  an increase of 53.3%.  This  increase for the three months
ended March 31, 2000,  is  attributable  to the outage of one turbine  generator
unit during that period in 1999.  The changes in energy  production for the Navy
II and BLM partnership's were insignificant over the two periods.

                                       22

Results of Operations for the three months ended March 31, 2000 and 1999

         The  following   discusses  the  results  of  operations  of  the  Coso
partnerships for the three months ending March 31, 2000 and 1999 (dollar amounts
in tables are in thousands, except per kWh data):

Revenue
<TABLE>
<CAPTION>

                                               Three Months Ended               Three Months Ended
                                                 March 31, 2000                    March 31, 1999

                                                $             cents/kWh          $           cents/kWh
                                                -             ---------          -           ---------
<S>                                           <C>               <C>           <C>              <C>
Total Operating Revenues
  Navy I partnership                          8,980              4.5           13,208            10.2
  BLM partnership                             7,180              3.9           21,377            11.2
  Navy II partnership                         9,788              4.9           24,637            12.7

Capacity & Capacity Bonus Revenues
  Navy I partnership                          1,255              0.6              711             0.6
  BLM partnership                             1,227              0.7            1,227             0.6
  Navy II partnership                         1,234              0.6            1,234             0.6

Energy Revenues
  Navy I partnership                          7,725              3.9           12,497             9.7
  BLM partnership                             5,953              3.2           20,150            10.5
  Navy II partnership                         8,554              4.3           23,403            12.0
</TABLE>

         Total operating  revenues for the Navy I partnership,  which consist of
capacity  payments,  capacity  bonus  payments  and energy  payments,  were $9.0
million for the three months ended March 31, 2000,  as compared to $13.2 million
for the same  period  in 1999,  a  decrease  of  31.8%.  The Navy I  partnership
capacity  and  capacity  bonus  revenues  were $1.3 million for the three months
ended March 31, 2000, as compared to $0.7 million for the  comparable  period in
1999, an increase of 85.7%.  The Navy I partnership's  energy revenues were $7.7
million for the three months ended March 31, 2000,  as compared to $12.5 million
for the same period in 1999, a decrease of 38.4%. The decreases in operating and
energy revenues for the three month period ending March 31, 2000, were primarily
due to a reduction in steam  transfers  from the Navy I  partnership  to the BLM
partnership  and  the  Navy  II  partnership  during  that  period.   These  two
partnerships  were  both  receiving  higher  fixed  energy  prices  under  their
respective  power  purchase  agreements  during the same period in 1999 and were
passing along the additional revenue to Navy I. For the three months ended March
31,  2000,  the  Navy  I  partnership   recorded  steam  transfer   revenues  of
approximately  $ 0.3 million from the BLM partnership and $ 0.9 million from the
Navy II  partnership.  Steam transfer  revenues for the three months ended March
31, 2000,  were a total of $1.2 million as compared to $8.5 million for the same
period in 1999,  a decrease of $7.3  million.  The  decrease  in steam  transfer
revenues was partially  offset by an increase in energy  revenues  excluding the
steam  transfer  payments  of $2.6  million  due to the  outage  of one  turbine
generator unit during that period in 1999 which increased  capacity and capacity
bonus revenues during that same period in 2000.

         Total operating revenues for the BLM partnership were $ 7.2 million for
the three months ended March 31, 2000, as compared to $21.4 million for the same
period in 1999, a decrease of 66.4%. The BLM partnership's  energy revenues were
$6.0 million for the three  months  ended March 31,  2000,  as compared to $20.2
million for the same  period in 1999,  a decrease  of 70.3%.  These  significant
decreases  were due to the expiration of the fixed energy price period under the
BLM  partnership's  power  purchase  agreement  in March 1999 and the receipt of
energy payments based on Edison's  avoided cost of energy since that time. Until
March 1999 the BLM  partnership  received  approximately  14.6 cents per kWh for
energy delivered.  Under the avoided cost of energy formula, the BLM partnership
has been  receiving  an average of  approximately  3.25 cents per kWh for energy
delivered.  The  decrease in revenues  due to the  reduction in energy price was
partially  offset  by a  reduction  in  steam  transfer  payments  to the Navy I
partnership of $3.2 million compared to the same period in 1999.

                                       23

         Total operating  revenues for the Navy II partnership were $9.8 million
for the three months ended March 31, 2000,  as compared to $24.6 million for the
same  period in 1999,  a decrease  of 60.2%.  The Navy II  partnership's  energy
revenues  were $8.6  million  for the three  months  ended  March 31,  2000,  as
compared to $23.4 million for the same period in 1999, a decrease of 63.2%.  The
decreases  were due to the  expiration in January 2000 of the fixed energy price
period under the Navy II partnership's  power purchase agreement and the receipt
of energy  payments  based on Edison's  avoided  cost of energy since that time.
Until January 11, 2000,  the Navy II  partnership  received  approximately  14.6
cents per kWh for energy  delivered.  Under the avoided cost of energy  formula,
the Navy II  partnership  has been  receiving an average of  approximately  3.25
cents per kWh for  energy  delivered.  Similar  decreases  are  expected  in the
upcoming quarters as the Navy II partnership  experiences the full effect of the
expiration of the fixed energy price period. The decrease in revenues due to the
reduction  in energy  price has been  partially  offset by a reduction  in steam
transfer payments to the Navy I partnership of $4.1 million compared to the same
period in 1999.

Interest and Other Income

                             Three Months Ended             Three Months Ended
                               March 31, 2000                 March 31, 1999

                             $        cents/kWh             $        cents/kWh
                             -        ---------             -        ---------
Navy I partnership          323           0.2            1,651           1.3
BLM partnership           5,315           2.9              196           0.1
Navy II partnership         529           0.3              306           0.2

     The Navy I  partnership's  interest and other income were  $323,000 for the
three  months  ended March 31,  2000,  as compared to $1.7  million for the same
period in 1999,  a decrease of 81.0%.  The  decrease  for the three months ended
March 31, 2000, is attributable to a $1.6 million  insurance  recovery  recorded
during the first quarter of 1999 in connection  with the shut-down of one of the
Navy I  partnership's  turbine  generator  unit. The  partnership  has recovered
$500,000  with respect to the  insurance  and has reserved  the  remaining  $1.1
million pending  resolution of the insurance  claim.  The decrease was partially
offset by an increase in interest income due to a larger restricted cash balance
during the three months  ended March 31, 2000 from that of March 31,  1999.  The
BLM  partnership's  interest  and other  income was $5.3  million  for the three
months  ended March 31,  2000,  as  compared to $196,000  for the same period in
1999.  This increase of $5.1 million was primarily due to a legal  settlement of
$5  million  with  Dow  Chemical  Company  ("Dow")  paid to the BLM  partnership
combined  with a larger  restricted  cash balance  during the three months ended
March 31, 2000 from that of March 31, 1999. The Navy II  partnership's  interest
and other income was $529,000 for the three month period  ending March 31, 2000,
as compared to $306,000 for the same period in 1999,  an increase of 72.9%.  The
increase resulted from increased interest income due to a larger restricted cash
balance required by the senior secured notes during the three months ended March
31, 2000 from that of March 31, 1999.

                                       24

Plant Operations

                           Three Months Ended               Three Months Ended
                              March 31, 2000                   March 31, 1999

                           $           cents/kWh             $         cents/kWh
                           -           ---------             -         ---------

Navy I partnership      2,072             1.0              4,583          3.5
BLM partnership         2,539             1.4              5,643          3.0
Navy II partnership     2,105             1.1              4,488          2.3

         The Navy I partnership's  operating  expenses,  including operating and
general and  administrative  expenses,  were $2.0  million for the three  months
ended March 31, 2000, as compared to $4.6 million for the same period in 1999, a
decrease of 56.5%. The BLM partnership's operating expenses, including operating
and general and administrative  expenses, were $2.5 million for the three months
ended March 31, 2000, as compared to $5.6 million for the same period in 1999, a
decrease  of 55.4%.  The Navy II  partnership's  operating  expenses,  including
operating  and general and  administrative  expenses,  were $2.1 million for the
three  months  ended March 31,  2000,  as compared to $4.5  million for the same
period in 1999, a decrease of 53.3%.  The decreases for each of the partnerships
for the three months ended March 31, 2000, as compared to 1999,  were  primarily
due to reductions in legal  expenses as a result of a settlement  agreement with
Edison that is subject to  California  Public  Utility  Commission  approval and
reductions in operator and management  committee fees due to the  replacement of
the Coso project's  prior operator and managing  partner.  Operating  costs were
also  reduced  as  compared  to the same  period in 1999 with the  exception  of
property  tax  payments  for the  Navy I and  Navy  II  partnerships.  The  Coso
Partnerships  are currently  disputing  their property tax  assessment  with the
County of Inyo.

Royalty Expenses

                             Three Months Ended            Three Months Ended
                               March 31, 2000                March 31, 1999

                           $            cents/kWh          $           cents/kWh
                           -            ---------          -           ---------
Navy I partnership       1,189             0.6           1,438             1.1
BLM partnership             65             0.0           1,939             1.0
Navy II partnership      1,775             0.9           2,870             1.5


         The Navy I partnership's royalty expense was $1.2 million for the three
months ended March 31, 2000,  as compared to $1.4 million for the same period in
1999, a decrease of 14.3%.  This  decrease was due to  decreased  steam  sharing
revenues over the same period in 1999. The BLM partnership's royalty expense was
$65,000 for the three months  ended March 31, 2000,  as compared to $1.9 million
for the same period in 1999,  a decrease of 96.6%.  This  decrease  was due to a
reduction in BLM  partnership's  revenue  caused by the  expiration of the fixed
energy price  period under the BLM  partnership's  power  purchase  agreement in
March 1999 and the receipt of energy  payments  under  Edison's  avoided cost of
energy  since that time.  The Navy II  partnership's  royalty  expense  was $1.8
million for the three months  ended March 31, 2000,  as compared to $2.9 million
for the same period in 1999,  a decrease of 37.9%.  This  decrease  was due to a
reduction in Navy II partnership  revenues caused by the expiration of the fixed
energy price period under the Navy II partnership's  power purchase agreement in
January 2000 and the receipt of energy  payments under Edison's  avoided cost of
energy since that time partially  offset by an increase in royalty rate for that
same period in 2000.

                                       25

Depreciation and Amortization

                           Three Months Ended           Three Months Ended
                             March 31, 2000               March 31, 1999

                            $           cents/kWh        $          cents/kWh
                            -           ---------        -          ---------
Navy I partnership        2,353            1.2         2,387            1.9
BLM partnership           3,876            2.1         3,725            2.0
Navy II partnership       3,698            2.0         3,527            1.8

         The BLM  partnership's  depreciation and amortization  expense was $3.9
million for the three months  ended March 31, 2000,  as compared to $3.7 million
for the same  period in 1999,  a  increase  of 5.4%.  The Navy II  partnership's
depreciation  and  amortization  expense was $3.7  million for the three  months
ended March 31,  2000,  as compared to $3.5 million for the same period in 1999,
an  increase  of 5.7%.  These  increases  were  primarily  due to an increase in
capital improvements.

Interest Expense and Other Related Costs

                        Three Months Ended               Three Months Ended
                          March 31, 2000                   March 31, 1999


                           $           cents/kWh        $          cents/kWh
                           -           ---------        -          ---------
Navy I partnership       3,303           1.7          2,293            1.8
BLM partnership          2,388           1.3          1,849            0.9
Navy II partnership      2,546           1.3          2,745            1.4



         The Navy I partnership's  interest expense and other related costs were
$3.3  million for the three  months  ended March 31,  2000,  as compared to $2.3
million for the same period in 1999, an increase of 43.5%. The BLM partnership's
interest  expense and other related costs were $2.4 million for the three months
ended March 31,  2000,  as compared to $1.8 million for the same period in 1999,
an  increase  of 33.3%.  The Navy II  partnership's  interest  expense and other
related  costs were $2.5 million for the three  months ended March 31, 2000,  as
compared to $2.7 million for the same period in 1999, a decrease of 7.4%.  These
changes were due to the allocation of outstanding  debt balances  resulting from
the $413 million senior secured financing which closed on May 28, 1999.

Liquidity and Capital Resources

         Each of the Navy I  partnership,  the BLM  partnership  and the Navy II
partnership derive  substantially all of their cash flow from Edison under their
power purchase  agreements and from interest  income earned on funds on deposit.
The Coso  partnerships  have used their cash primarily for capital  expenditures
for power plant improvements,  resource and development costs,  distributions to
partners and payments with respect to the project debt.

         The  following  table sets  forth a summary of each Coso  partnership's
cash flows for the three months ended March 31, 2000 and March 31, 1999.

                                       26

<TABLE>
<CAPTION>                                                              Three Months           Three Months
                                                                          Ended                  Ended
                                                                         March 31,              March 31,
                                                                           2000                   1999
<S>                                                                  <C>                  <C>
Navy I partnership (stand alone)
  Net cash provided by operating activities                             $  8,624              $   9,257
  Net cash provided by (used in) investing activities                      2,445                   (935)
  Net cash provided by (used in) financing activities                     (5,556)                (1,926)
                                                                          ------                -------
       Net change in cash and cash equivalents                          $  5,513              $   6,396
                                                                          ======                =======

BLM partnership (stand alone)
  Net cash provided by operating activities                            $   9,651              $  16,962
  Net cash provided by (used in) investing activities                      2,968                   (174)
  Net cash provided by (used in) financing activities                     (4,105)                   227
                                                                          ------                -------
      Net change in cash and cash equivalents                          $   8,514              $  17,015
                                                                          ======                =======

Navy II partnership (stand alone)
  Net cash provided by operating activities                           $   16,815              $  18,281
  Net cash provided by (used in) investing activities                     42,822                 (1,344)
  Net cash provided by (used in) financing activities                    (43,004)                 2,284
                                                                         -------                -------
      Net change in cash and cash equivalents                         $   16,633              $  19,221
                                                                         =======                =======
</TABLE>


         The Navy I partnership's cash flows from operating activities decreased
by $633,000  for the three  months ended March 31, 2000 as compared to March 31,
1999,  primarily  due to a reduction in net income caused by a decrease in steam
transfer revenue. The decrease was partially offset by an increase in cash flows
caused by decreases in both accounts receivable and intercompany receivables.

         Cash used in investing  activities at the Navy I partnership  decreased
by $3.4  million for the three  months ended March 31, 2000 as compared to March
31, 1999,  primarily due to the use of restricted cash, for the repayment of the
project loan.

         The Navy I partnership's cash flows from financing activities decreased
by $3.6  million for the three  months ended March 31, 2000 as compared to March
31, 1999, primarily due to repayment of the project loan.

         The BLM partnership's cash flows from operating activities decreased by
$7.3  million for the three months ended March 31, 2000 as compared to March 31,
1999,  primarily due to a reduction in net income  resulting from the expiration
of the fixed  energy price period  under the BLM  partnership's  power  purchase
agreement  in March 1999 and the  receipt of energy  payments  based on Edison's
avoided cost of energy  since that time.  Cash flows from  operating  activities
also  decreased  due to  increases  in  both  accounts  receivable  and  prepaid
expenses.

         Cash used in investing  activities at the BLM partnership  decreased by
$3.1  million for the three months ended March 31, 2000 as compared to March 31,
1999,  primarily  due to the use of  restricted  cash,  for the repayment of the
project loan.

         The BLM partnership's cash flows from financing activities decreased by
$4.3  million for the three months ended March 31, 2000 as compared to March 31,
1999, primarily due to repayment of the project loan.

                                     27

         The  Navy  II  partnership's  cash  flows  from  operating   activities
decreased  by $1.5 million for the three months ended March 31, 2000 as compared
to March 31,  1999,  primarily  due to a reduction  in net income  caused by the
expiration in early January 2000 of the fixed energy price period under the Navy
II  partnership's  power purchase  agreement and the receipt of energy  payments
based on Edison's  avoided cost of energy since that time.  The decrease in cash
flows was partially offset by a decrease in accounts receivable.

         Cash  used  in  investing  activities  at  the  Navy  II  partnership's
decreased by $44.2 million for the three months ended March 31, 2000 as compared
to March 31, 1999, primarily due to the use of restricted cash for the repayment
of the project loan.

         The  Navy  II  partnership's  cash  flows  from  financing   activities
decreased by $45.3 million for the three months ended March 31, 2000 as compared
to March 31, 1999, primarily due to repayment of the project loan.

Year 2000

         In 1999, the Coso  partnership's  developed a plan to identify,  assess
and  remediate  "Year 2000"  issues  within each of their  significant  computer
programs and certain  machinery and equipment.  The Coso  partnerships  have not
experienced  disruptions to their  financial or operating  activities  caused by
failure of  computerized  systems from Year 2000 issues.  In addition,  the Coso
partnerships have not experienced disruptions to operations caused by failure of
computerized systems of suppliers or customers from Year 2000 issues. Management
of the Coso  partnerships  do not  expect  Year 2000  issues to have a  material
adverse effect on their power plant's operations or financial results in 2000.

PART II.  OTHER INFORMATION

ITEM 1.  Legal Proceedings

Settlement of Litigation

      In February  2000,  the Navy I, Navy II, and BLM  partnerships  and Edison
reached a settlement, subject to the approval of the California Public Utilities
Commission of litigation  between the Coso Partnerships and Edison as more fully
described in the 10-Q for the quarter ended  September 30, 1999. The cost of the
settlement was allocated among the Coso Partnerships. A portion of that cost was
reflected in the purchase  accounting  applied to the acquisition of CalEnergy's
interest in the partnership.

General

         Except  as  otherwise   described  above,  the  Coso  partnerships  are
currently  parties to  various  minor  items of  litigation,  none of which,  if
determined  adversely,  would be material to the financial condition and results
of operations of the Coso partnerships, either individually or taken as a whole.

                                       28

ITEM 2.  Change in Securities and Use of Proceeds

                  None.

ITEM 3.  Defaults Upon Senior Securities

                  None.

ITEM 4.  Submission of Matters to a Vote of Security Holders

                  None.

ITEM 5.  Other information

                  None

ITEM 6.  Exhibits and Reports on Form 8-K

(a)      Exhibits

                  27.1 Financial Data Schedule--Form SX--Coso Funding Corp.
                  27.2 Financial Data Schedule--Form SX--Coso Finance Partners
                  27.3 Financial Data Schedule--Form SX--Coso Energy Developers
                  27.4 Financial Data Schedule--Form SX--Coso Power Developers

(b)      Reports on Form 8-K

         The Coso Partnerships filed current reports on Form 8-K dated February
         23, 2000 reporting settlement agreements to resolve litigation
         proceedings with Edison, Dow and Fuji Electric Company.

                                       29
<PAGE>
                                  EXHIBIT 27.1

                                    Form S-X

                  Commercial and Industrial Companies

Financial Data Schedule Worksheet for:      CAITHNESS COSO FUNDING CORP
                                            ---------------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?        This schedule contains summary financial
                     Yes     X No       information extracted from *___________
                  ---       ---         and is qualified in its entirety by
                                        reference to such financial statements.
                                        *Identify the financial statement(s)
                                        to be referenced in the legend:
RESTATED
Are your financials being "restated"        (NO VALUE REQUIRED)
from a previously filed period?
                     Yes     X No
                  ---       ---

CIK                                      Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT CIK:

NAME                                     Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT NAME:

MULTIPLIER                                    X  1,000         1,000,000,000
Do the financials require a multiplier       ---            ---
other than 1 (one)?                             1,000,000      1,000,000,000,000
                   X Yes       No            ---            ---
                  ---      ---

CURRENCY                                 CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                     Yes     X No
                  ---       ---
PERIOD TYPE                                   - MOS     X   3  - MOS
                                        -- ----        --- ----
                                           X YEAR           YEAR
                                          ---            ---
                                        (For annual report filings)
                                             OTHER          OTHER
                                          ---            ---
FISCAL YEAR END
(example: DEC-31-1997)                   DEC-31-1999             DEC-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

PERIOD START
(example: JAN-01-1997)                   JAN-01-1999             JAN-01-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                   DEC-31-1999             MAR-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

EXCHANGE RATE                        EXCHANGE RATE:          EXCHANGE RATE:
Is the exchange rate other than 1
(one)? (Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes   X No
                   ---     ---


<TABLE>
<CAPTION>

                                                PERIOD TYPE: Year            PERIOD TYPE:  3-M0S
                                                             ----                          ------
<S>                                                                  <C>                    <C>
CASH                                                                  0                             0
SECURITIES                                                            0                             0
RECEIVABLES                                                     414,392                       369,556
ALLOWANCES                                                            0                             0
INVENTORY                                                             0                             0
CURRENT ASSETS                                                    1,392                         9,221
PP&E                                                                  0                             0
DEPRECIATION                                                          0                             0
TOTAL ASSETS                                                    414,392                       369,556
CURRENT LIABILITIES                                               1,392                         9,221
BONDS                                                           413,000                       360,335
PREFERRED MANDATORY                                                   0                             0
PREFERRED                                                             0                             0
COMMON                                                                0                             0
OTHER SE                                                              0                             0
TOTAL LIABILITY AND EQUITY                                      414,392                       369,556
SALES                                                                 0                             0
TOTAL REVENUES                                                   20,491                         9,221
CGS                                                                   0                             0
TOTAL COSTS                                                           0                             0
OTHER EXPENSES                                                        0                             0
LOSS PROVISION                                                        0                             0
INTEREST EXPENSE                                                 20,491                         9,221
INCOME PRETAX                                                         0                             0
INCOME TAX                                                            0                             0
INCOME CONTINUING                                                     0                             0
DISCONTINUED                                                          0                             0
EXTRAORDINARY                                                         0                             0
CHANGES                                                               0                             0
NET INCOME                                                            0                             0
EPS BASIC                                                             0                             0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                           0                             0
(Value may contain up to 3 decimal places)

   Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)
</TABLE>

<PAGE>
                                  EXHIBIT 27.2

                                    Form S-X

                  Commercial and Industrial Companies

Financial Data Schedule Worksheet for:      COSO FINANCE PARTNERS
                                            ---------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?        This schedule contains summary financial
                     Yes     X No       information extracted from *___________
                  ---       ---         and is qualified in its entirety by
                                        reference to such financial statements.
                                        *Identify the financial statement(s)
                                        to be referenced in the legend:
RESTATED
Are your financials being "restated"        (NO VALUE REQUIRED)
from a previously filed period?
                     Yes     X No
                  ---       ---

CIK                                      Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT CIK:

NAME                                     Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT NAME:

MULTIPLIER                                    X  1,000         1,000,000,000
Do the financials require a multiplier       ---            ---
other than 1 (one)?                             1,000,000      1,000,000,000,000
                   X Yes       No            ---            ---
                  ---      ---

CURRENCY                                 CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                     Yes     X No
                  ---       ---
PERIOD TYPE                                   - MOS     X   3  - MOS
                                        -- ----        --- ----
                                           X YEAR           YEAR
                                          ---            ---
                                        (For annual report filings)
                                             OTHER          OTHER
                                          ---            ---
FISCAL YEAR END
(example: DEC-31-1997)                   DEC-31-1999             DEC-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

PERIOD START
(example: JAN-01-1997)                   JAN-01-1999             JAN-01-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                   DEC-31-1999             DEC-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

EXCHANGE RATE                        EXCHANGE RATE:          EXCHANGE RATE:
Is the exchange rate other than 1
(one)? (Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes   X No
                   ---     ---



<PAGE>
<TABLE>
<CAPTION>

                                                PERIOD TYPE: Year             PERIOD TYPE: 3- MOS
<S>                                                              <C>                          <C>
CASH                                                              7,821                        13,334
SECURITIES                                                       25,001                        20,051
RECEIVABLES                                                       9,662                         5,348
ALLOWANCE                                                             0                             0
INVENTORY                                                             0                             0
CURRENT ASSETS                                                   17,483                        18,728
PP&E                                                            225,157                       227,643
DEPRECIATION                                                     71,278                        73,325
TOTAL ASSETS                                                    217,712                       214,014
CURRENT LIABILITIES                                              16,800                        18,271
BONDS                                                           151,550                       145,994
PREFERRED MANDATORY                                                   0                             0
PREFERRED                                                             0                             0
COMMON                                                                0                             0
OTHER SE                                                              0                             0
TOTAL LIABILITY AND EQUITY                                      217,712                       214,013
SALES                                                            55,666                         8,980
TOTAL REVENUES                                                   57,442                         9,303
CGS                                                                   0                             0
TOTAL COSTS                                                           0                             0
OTHER EXPENSES                                                   31,671                         5,614
LOSS PROVISION                                                        0                             0
INTEREST EXPENSE                                                 13,575                         3,303
INCOME PRETAX                                                         0                             0
INCOME TAX                                                            0                             0
INCOME CONTINUING                                                     0                             0
DISCONTINUED                                                          0                             0
EXTRAORDINARY                                                     2,375                             0
CHANGES                                                               0                             0
NET INCOME                                                        9,821                           386
EPS BASIC                                                             0                             0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                           0                             0
(Value may contain up to 3 decimal places)
         Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)
</TABLE>


<PAGE>


                                  EXHIBIT 27.3

                                    Form S-X

                  Commercial and Industrial Companies

Financial Data Schedule Worksheet for:        COSO ENERGY DEVELOPERS
                                             ------------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?        This schedule contains summary financial
                     Yes     X No       information extracted from *___________
                  ---       ---         and is qualified in its entirety by
                                        reference to such financial statements.
                                        *Identify the financial statement(s)
                                        to be referenced in the legend:
RESTATED
Are your financials being "restated"        (NO VALUE REQUIRED)
from a previously filed period?
                     Yes     X No
                  ---       ---

CIK                                      Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT CIK:

NAME                                     Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT NAME:

MULTIPLIER                                    X  1,000         1,000,000,000
Do the financials require a multiplier       ---            ---
other than 1 (one)?                             1,000,000      1,000,000,000,000
                   X Yes       No            ---            ---
                  ---      ---

CURRENCY                                 CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                     Yes     X No
                  ---       ---
PERIOD TYPE                                   - MOS     X   3  - MOS
                                        -- ----        --- ----
                                           X YEAR           YEAR
                                          ---            ---
                                        (For annual report filings)
                                             OTHER          OTHER
                                          ---            ---
FISCAL YEAR END
(example: DEC-31-1997)                   DEC-31-1999             DEC-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

PERIOD START
(example: JAN-01-1997)                   JAN-01-1999             JAN-01-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                   DEC-31-1999             DEC-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

EXCHANGE RATE                        EXCHANGE RATE:          EXCHANGE RATE:
Is the exchange rate other than 1
(one)? (Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes   X No
                   ---     ---



<TABLE>
<CAPTION>

                                               PERIOD TYPE: Year             PERIOD TYPE 3- MOS

<S>                                                             <C>                            <C>
CASH                                                              6,423                        14,937
SECURITIES                                                        9,806                         5,916
RECEIVABLES                                                       6,856                         6,567
ALLOWANCE                                                             0                             0
INVENTORY                                                             0                             0
CURRENT ASSETS                                                   13,379                        21,650
PP&E                                                            237,183                       237,144
DEPRECIATION                                                     71,533                        74,180
TOTAL ASSETS                                                    216,391                       217,772
CURRENT LIABILITIES                                              29,141                        31,000
BONDS                                                           107,900                       103,795
PREFERRED MANDATORY                                                   0                             0
PREFERRED                                                             0                             0
COMMON                                                                0                             0
OTHER SE                                                              0                             0
TOTAL LIABILITY AND EQUITY                                      216,391                       217,772
SALES                                                            49,877                         7,180
TOTAL REVENUES                                                   50,943                        12,495
CGS                                                                   0                             0
TOTAL COSTS                                                           0                             0
OTHER EXPENSES                                                   38,534                         6,480
LOSS PROVISION                                                        0                             0
INTEREST EXPENSE                                                 10,235                         2,388
INCOME PRETAX                                                         0                             0
INCOME TAX                                                            0                             0
INCOME CONTINUING                                                     0                             0
DISCONTINUED                                                          0                             0
EXTRAORDINARY                                                     1,822                             0
CHANGES                                                               0                             0
NET INCOME                                                          352                         3,627
EPS BASIC                                                             0                             0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                           0                             0
(Value may contain up to 3 decimal places)
         Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)

</TABLE>
<PAGE>

                                  EXHIBIT 27.4

                                    Form S-X

                  Commercial and Industrial Companies

Financial Data Schedule Worksheet for:      COSO POWER DEVELOPERS
                                            ---------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?        This schedule contains summary financial
                     Yes     X No       information extracted from *___________
                  ---       ---         and is qualified in its entirety by
                                        reference to such financial statements.
                                        *Identify the financial statement(s)
                                        to be referenced in the legend:
RESTATED
Are your financials being "restated"        (NO VALUE REQUIRED)
from a previously filed period?
                     Yes     X No
                  ---       ---

CIK                                      Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT CIK:

NAME                                     Use this section only for coregistrant
Does this data apply to a coregistrant   filings.
                     Yes       No
                  ---       ---          COREGISTRANT NAME:

MULTIPLIER                                    X  1,000         1,000,000,000
Do the financials require a multiplier       ---            ---
other than 1 (one)?                             1,000,000      1,000,000,000,000
                   X Yes       No            ---            ---
                  ---      ---

CURRENCY                                 CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                     Yes     X No
                  ---       ---
PERIOD TYPE                                   - MOS     X   3  - MOS
                                        -- ----        --- ----
                                           X YEAR           YEAR
                                          ---            ---
                                        (For annual report filings)
                                             OTHER          OTHER
                                          ---            ---
FISCAL YEAR END
(example: DEC-31-1997)                   DEC-31-1999             DEC-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

PERIOD START
(example: JAN-01-1997)                   JAN-01-1999             JAN-01-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                   DEC-31-1999             DEC-31-2000
                                         -----------             -----------
                                         mmm-dd-yyyy             mmm-dd-yyyy

EXCHANGE RATE                        EXCHANGE RATE:          EXCHANGE RATE:
Is the exchange rate other than 1
(one)? (Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes   X No
                   ---     ---


<TABLE>
<CAPTION>

                                               PERIOD TYPE: Year             PERIOD TYPE: Year
<S>                                                             <C>                            <C>

CASH                                                              6,020                        22,653
SECURITIES                                                       54,338                        11,516
RECEIVABLES                                                      27,598                        13,138
ALLOWANCE                                                             0                             0
INVENTORY                                                             0                             0
CURRENT ASSETS                                                   33,618                        35,837
PP&E                                                            208,048                       208,102
DEPRECIATION                                                     60,526                        63,581
TOTAL ASSETS                                                    273,269                       228,757
CURRENT LIABILITIES                                              15,388                        13,687
BONDS                                                           153,550                       110,546
PREFERRED MANDATORY                                                   0                             0
PREFERRED                                                             0                             0
COMMON                                                                0                             0
OTHER SE                                                              0                             0
TOTAL LIABILITY AND EQUITY                                      273,269                       228,757
SALES                                                           113,746                         9,788
TOTAL REVENUES                                                  115,920                        10,317
CGS                                                                   0                             0
TOTAL COSTS                                                           0                             0
OTHER EXPENSES                                                   43,577                         7,578
LOSS PROVISION                                                        0                             0
INTEREST EXPENSE                                                 13,991                         2,546
INCOME PRETAX                                                         0                             0
INCOME TAX                                                            0                             0
INCOME CONTINUING                                                     0                             0
DISCONTINUED                                                          0                             0
EXTRAORDINARY                                                     2,147                             0
CHANGES                                                               0                             0
NET INCOME                                                       56,205                           193
EPS BASIC                                                             0                             0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                           0                             0
(Value may contain up to 3 decimal places)
         Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)
</TABLE>
<PAGE>



                                   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.

Date:  May 12, 2000                COSO FINANCE PARTNERS,
                                   a California general partnership

                                     By:  New CLOC Company, LLC,
                                          its Managing General Partner

                                     By:  /S/ CHRISTOPHER T. MCCALLION
                                          ---------------------------
                                           Christopher T. McCallion
                                           Executive Vice President &
                                           Chief Financial Officer
                                           (Principal Financial and
                                           Accounting Officer)