text: ***Financial Position***
  
  In May 2014, the borrowing capacity under our credit facilities increased from an aggregate of $63 million to $135 million. The 
  increase in the borrowing capacity was driven by the significant uplift of the Company’s proved oil and gas reserves as at 31 
  December 2013. In conjunction with the increase in the Company’s borrowing capacity, the Company expanded the syndicate 
  of banks under the Senior Credit Facility. Bank of America Merrill Lynch and the Bank of Nova Scotia have now joined the bank 
  group which is led by Wells Fargo. 
  
  In July 2014, the borrowing capacity increased an additional net $10 million, to $145 million, after taking into consideration 
  the removal of proved oil and gas reserves associated with the DJ and Williston Basin dispositions and the development of 
  proved oil and gas reserves in the Eagle Ford Formation. 
  
  At 31 December 2014, the Company had $130 million outstanding under our credit facilities and $15 million available under 
  our borrowing capacity. Ending cash at 31 December 2014 was $69.2 million. 
  
  ***Cashflow***
  
  Cash provided by operating activities for the year ended 31 December 2014 increased 104.5% to $128.1 million compared to 
  the prior year. This increase was primarily due to receipts from sales increasing $85.7 million, or 101.2%, to $170.4 million, 
  while keeping payments to suppliers and employees relatively stable with an increase of $8.2 million, or 37.7%, to $30.0 million. 
  See Review of Operations for more information. 