text: **CONSOLIDATED STATEMENT OF CASH FLOWS**
  
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              [html]<thead><tr><td>For the year ended 31 December</td><td>Note</td><td>2014 US $’ 000</td><td>2013 US $‘ 000</td></tr></thead><tbody><tr><td>CASH FLOWS FROM OPERATING ACTIVITIES</td><td></td><td></td><td></td></tr><tr><td>Receipts from sales</td><td></td><td>170.442</td><td>84.703</td></tr><tr><td>Payments to suppliers and employees</td><td></td><td>( 29.967 )</td><td>( 21.765 )</td></tr><tr><td>Interest received</td><td></td><td>201</td><td>126</td></tr><tr><td>Derivative proceeds, net</td><td></td><td>( 3 )</td><td>253</td></tr><tr><td>Income taxes paid, net</td><td></td><td>.( 12.586 )</td><td>( 671 )</td></tr><tr><td>NET CASH PROVIDED BY OPERATING ACTIVITIES</td><td>30</td><td>128.087</td><td>62.646</td></tr><tr><td>CASH FLOWS FROM INVESTING ACTIVITIES</td><td></td><td></td><td></td></tr><tr><td>Payments for development expenditure</td><td></td><td>( 361.950 )</td><td>( 154.700 )</td></tr><tr><td>Payments for exploration expenditure</td><td></td><td>( 39.616 )</td><td>( 20.006 )</td></tr><tr><td>Payments for acquisition of oil and gas properties</td><td></td><td>( 35.606 )</td><td>( 141.963 )</td></tr><tr><td>Sale of non - current assets</td><td></td><td>115.284</td><td>37.848</td></tr><tr><td>Transaction costs related to sale of non - current assets</td><td></td><td>( 278 )</td><td>( 161 )</td></tr><tr><td>Cash acquired from merger</td><td></td><td>-</td><td>114.690</td></tr><tr><td>Cash ( paid ) received from escrow and deposit accounts, net</td><td></td><td>( 102 )</td><td>837</td></tr><tr><td>Payments for plant and equipment</td><td></td><td>( 967 )</td><td>( 900 )</td></tr><tr><td>NET CASH USED IN INVESTING ACTIVITIES</td><td></td><td>_ ( 323.235 )</td><td>__ ( 164.355 )</td></tr><tr><td>CASH FLOWS FROM FINANCING ACTIVITIES</td><td></td><td></td><td></td></tr><tr><td>Proceeds from the issuance of shares</td><td></td><td>72.438</td><td>48.211</td></tr><tr><td>Payments for costs of capital raisings</td><td></td><td>( 3.778 )</td><td>( 2.654 )</td></tr><tr><td>Payments for acquisition related costs</td><td></td><td>-</td><td>( 533 )</td></tr><tr><td>Borrowing costs paid</td><td></td><td>( 1.065 )</td><td>( 569 )</td></tr><tr><td>Proceeds from borrowings</td><td></td><td>165.000</td><td>15.000</td></tr><tr><td>Repayments from borrowings</td><td></td><td>___ ( 65.000 )</td><td>___ ( 15.000 )</td></tr><tr><td>NET CASH PROVIDED BY FINANCING ACTIVITIES</td><td></td><td>__167.595</td><td>___44.455</td></tr><tr><td>Net decrease in cash held</td><td></td><td>( 27.553 )</td><td>( 57.254 )</td></tr><tr><td>Cash at beginning of period</td><td></td><td>96.871</td><td>154.110</td></tr><tr><td>Effect of exchange rates on cash</td><td></td><td>( 101 )</td><td>________________________________________________________________________________________________________________________________________________________________________________________________________</td></tr><tr><td>CASH AT END OF PERIOD</td><td>11</td><td>. 69.217.</td><td>____96.871</td></tr></tbody>
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