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              [html]<thead><tr><td>100</td><td>Table</td><td>Table</td></tr></thead><tbody><tr><td>‘ to</td><td>‘ 04</td><td>[ i ] Operating cash flow ( β ) tapital expenditure</td></tr><tr><td>DEPRECIATION, DEPLETION AND AMORTISATION</td><td>CASH FLOW LOWERWhile Santos had a strong profit year, this is not fully reflected in cash flows.</td><td>All things being equal, DD & A could have been expected to</td></tr><tr><td>be lower this year, as Santos produced lower volumes and had written off the Heytesbury plant in the onshore Otway Basin last year.</td><td>There were large movements in trade debtors between years, reflecting the timing of liftings and the payments for them.</td><td>Rowevers, two factors caused an indicated and and antibiotics, and antibiotics, and antibiotics, and antibiotics, and antibiotics, and activities, and revisions, and revisions, and revisions, and revision, and access, and access, a</td></tr><tr><td>In addition, Sarton has not yet and surgery, and surgery, and surgery, and surgery, and surgery, in addition, in the last to months, incident, and surgery, and surgery, and surgery, and surgery, and surgery, and survey, and survey, and sun</td><td>Secondly, on the future development cost side, depletion is up partly because Santas is starting to factor in higher steet and service company costs into long - term economic models.</td></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr></tbody>
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