NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 
 
NOTE 30 – CASH FLOW INFORMATION 
 2014 2013 
Year ended 31 December US$’000 US$’000 
   
a) Reconciliation of cash flows from operations with income from 
ordinary activities after income tax 
   
Profit from ordinary activities after income tax 15,321      15,942 
Adjustments to reconcile net profit to net operating cash flows:   
Depreciation and amortisation expense 85,584 36,225 
Share options expensed 1,915 1,590 
Unrealised (gains) losses on derivatives  (9,642) 837 
Net gain on sale of properties  (48,604) (7,335) 
Impairment of development and production assets 71,212 - 
Unsuccessful exploration and evaluation expense 10,934 - 
Amortisation of deferred financing fees 316 140 
Add: Interest expense (disclosed in investing and financing 
activities) 
383 - 
Recognition of DTA on items directly within equity 879 665 
Other  126 (153) 
Changes in assets and liabilities:   
- (Decrease) increase in current and deferred income tax (14,606) 5,147 
- Decrease in other assets 28 2,155 
- Decrease (increase) in trade and other receivables 8,679 (3,541) 
- Increase in trade and other payables         5,562     10,974 
Net cash provided by operating activities    128,087     62,646 
   
b) Non Cash Financing and Investing Activities  
- During the year ended 31 December 2014 the net gain on sale of properties for the disposition of the 
Company’s remaining Williston assets included the relief of a net payable due to the buyer of $4.0 million 
($17.1 million payable and $13.1 million receivable). 
- During the year ended 31 December 2013 $132.1 million in shares were issued in connection with the 
Texon acquisition. 
 
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