Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 9,651 $ (26,550) $ (158,656)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Loss from discontinued operations 621 8,283 38,102
Depreciation, depletion and amortization 6,457 6,926 32,998
Other amortization 369 1,424 304
Deferred taxes (1,260)   1,349
Unrealized foreign exchange gain (576) (32) (5,243)
Dry hole costs and impairment of unproved leasehold     10,244
Stock-based compensation 1,098 192 3,810
Commodity derivatives loss 1,032 1,711  
Cash settlements received on matured derivative contracts 195    
Bad debt provision 452 1,222 2,699
Other operating (income) loss, net 84 266 1,092
Operational expenses associated with equipment and other 1,189    
Impairment of proved properties   88 81,322
Change in operating assets and liabilities:      
Trade receivables 3,195 (1,050) 14,174
Accounts with partners (108) 16,284 (13,816)
Other receivables (43) (18) (609)
Crude oil inventory (2,350) (192) 1,266
Value added tax and other receivables (3,025) (1,937) (2,286)
Other long term assets (2,298) (2,827) (1,566)
Prepayments and other 1,646 517 3,129
Accounts payable (7,297) (15,459) 30,187
Accrued liabilities and other 2,050 (4,586) 3,034
Net cash provided by (used in) continuing operating activities 11,082 (15,738) 41,534
Net cash provided by (used in) discontinued operating activities (4,423) 12,286 (2,659)
Net cash provided by (used in) operating activities 6,659 (3,452) 38,875
CASH FLOWS FROM INVESTING ACTIVITIES:      
(Increase) decrease in restricted cash (150) 15,219 5,536
Acquisitions 64 (5,692)  
Property and equipment expenditures (1,813) (8,705) (68,067)
Proceeds from the sale of oil and gas properties 250 830 398
Premiums paid for put options   (2,939)  
Net cash used in continuing investing activities (1,649) (1,287) (62,133)
Net cash used in discontinued investing activities     (20,877)
Net cash used in investing activities (1,649) (1,287) (83,010)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from the issuances of common stock 39   441
Treasury shares (20) (51)  
Debt issuance costs   (93)  
Debt repayment (10,001)    
Borrowings 4,167    
Net cash provided by (used in) continuing financing activities (5,815) (144) 441
Net cash provided by discontinued financing activities
Net cash provided by (used in) financing activities (5,815) (144) 441
NET CHANGE IN CASH AND CASH EQUIVALENTS (805) (4,883) (43,694)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 20,474 25,357 69,051
CASH AND CASH EQUIVALENTS AT END OF YEAR 19,669 20,474 25,357
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest 997 1,326 1,337
Income taxes paid 15,153 9,210 15,163
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment additions incurred but not paid at period end 455 2,282 15,132
Asset retirement obligations $ 600 $ 1,543 $ 542