Welcome to the Connacher Oil and Gas Hub on AGORACOM

Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

Free
Message: latest uptik
Reply New Message
Prev Message Back To Forum Threaded View Next Message

Hi spiderman8

I did a little digging and found an old post from last year I made regarding CLL's cashflow. I wanted to follow the money trail during 2006 to 2008 and see what debt was created and which was paid. In addition, by using the accompanying "Note to FS" reference, it should help in delineating interest rates and payment due dates for loan activity prior to 2009).

Good Luck,

Booster

Connacher Oil and Gas Limited
Consolidated Statements of Cash Flow
Years Ended December 31
TOTAL
Cash provided by (used in) the following activities: 2008 - 2006 2008 2007 2006
OPERATING
Net earnings (loss) 21,311 (26,603) 40,961 6,953
Items not involving cash: 0
Depletion, depreciation and accretion 120,458 56,448 31,061 32,949
Stock-based compensation (Note 13) 18,939 4,575 6,071 8,293
Financing charges - non-cash portion 13,339 8,934 2,168 2,237
Employee future benefits (Note 12a) 1,558 730 447 381
Future income tax provision 4,115 7,623 27 (3,535)
Unrealized foreign exchange loss 129,483 122,342 2,854 4,287
Gain on repurchase of Second Lien Senior Notes (2,769) (2,769) 0 0
Dilution gain (9,904) (7,964) (1,917) (23)
Equity interest in Petrolifera earnings (21,116) (3,085) (6,953) (11,078)
Realized foreign exchange transactions (135,168) (105,414) (29,754) 0
Lease inducement amortization (268) 0 0 (268)
Cash flow from operations before working capital and other changes 139,978 54,817 44,965 40,196
Changes in non-cash working capital (Note 16(b)) (30,390) (27,583) 6,464 (9,271)
Pension funding (Note 12) (781) 0 (781) 0
Asset retirement expenditures (520) (209) (311) 0
108,287 27,025 50,337 30,925
FINANCING
Repayment of oil sands term loan (180,000) 0 (180,000) 0
Issue of common shares, net of share issue costs 174,917 761 50,968 123,188
Increase in bank debt 415,934 0 135,856 280,078
Repayment of bank debt (212,670) 0 (154,963) (57,707)
Issuance of Convertible Debentures, net of issue costs (Note 10) 96,010 0 96,010 0
Issuance of Second Lien Senior Notes, net of issue costs (Note 10) 575,449 0 575,449 0
Repurchase of Second Lien Senior Notes (6,262) (6,262) 0 0
Deferred financing costs (3,925) (77) (3,848) 0
Proceeds on unwinding of cross currency swap 97,600 97,600 0 0
957,053 92,022 519,472 345,559
INVESTING
Development of upstream and downstream properties (828,230) (351,320) (301,877) (175,033)
Proceeds on disposal of oil and gas properties 10,000 0 0 10,000
Decrease in restricted cash (Note 16(c)) 8,952 72,113 59,627 (122,788)
Acquisition of Luke Energy Ltd. (Note 4) (92,692) 0 0 (92,692)
Acquisition of refining assets (Note 4) (61,273) 0 0 (61,273)
Acquisition of other assets (5,185) 0 0 (5,185)
Exercise of Petrolifera warrants (5,143) 0 (5,143) 0
Change in non-cash working capital (Note 16(b)) 56,242 50,789 (8,669) 14,122
(917,329) (228,418) (256,062) (432,849)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 148,011 (109,371) 313,747 (56,365)
Impact of foreign exchange on foreign currency denominated cash balances 141 3,924 (4,240) 457
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR (or 2006-blue) 75,511 329,110 19,603 75,511
CASH AND CASH EQUIVALENTS, END OF YEAR (or 2008) 223,663 223,663 329,110 19,603
Supplementary information - Note 16
Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply