CONSOLIDATED STATEMENT OF CASH FLOWS 
 
 
 
For the year ended 31 December 
 
Note 
2014  
US$’000 
2013 
US$’000 
    
CASH FLOWS FROM OPERATING ACTIVITIES    
Receipts from sales       170,442       84,703 
Payments to suppliers and employees  (29,967) (21,765) 
Interest received  201 126 
Derivative proceeds, net  (3) 253 
Income taxes paid, net        (12,586)             (671) 
NET CASH PROVIDED BY OPERATING ACTIVITIES 30        128,087          62,646 
    
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for development expenditure  (361,950) (154,700) 
Payments for exploration expenditure  (39,616) (20,006) 
Payments for acquisition of oil and gas properties  (35,606) (141,963) 
Sale of non-current assets  115,284 37,848 
Transaction costs related to sale of non-current assets  (278) (161) 
Cash acquired from merger  - 114,690 
Cash (paid) received from escrow and deposit 
accounts, net 
 (102) 837 
Payments for plant and equipment             (967)            (900) 
NET CASH USED IN INVESTING ACTIVITIES     (323,235)    (164,355) 
    
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of shares  72,438 48,211 
Payments for costs of capital raisings  (3,778) (2,654) 
Payments for acquisition related costs  - (533) 
Borrowing costs paid  (1,065) (569) 
Proceeds from borrowings  165,000 15,000 
Repayments from borrowings      (65,000)      (15,000) 
NET CASH PROVIDED BY FINANCING ACTIVITIES       167,595         44,455 
    
Net decrease in cash held  (27,553) (57,254) 
    
Cash at beginning of period  96,871 154,110 
Effect of exchange rates on cash            (101)               15 
CASH AT END OF PERIOD 11       69,217       96,871 
 
 
 
 
The accompanying notes are an integral part of these consolidated financial statements 
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