Page 59

F I N A N C I A L S TAT E M E N TS

CONSOLIDATED STATEMENTS OF CASH FLOW CASH FLOW FROM OPERATING ACTIVITIES Net income after non-controlling interest Add items not involving cash: Non-controlling interest Future income tax expense (recovery) Depletion, depreciation and accretion (Notes 5 and 8) Non-cash gain on commodity and foreign currency contracts Non-cash gain on foreign exchange (Note 17) Non-cash trust unit incentive compensation (Notes 14 and 15) Expenditures on site reclamation and restoration Change in non-cash working capital

2005 $

CASH FLOW FROM (USED IN) FINANCING ACTIVITIES Borrowings (repayments) under revolving credit facilities Issuance of senior secured notes Repayment of senior secured notes Issue of trust units Trust unit issue costs Cash distributions paid, net of distribution reinvestment (Note 13) Payment of retention bonus Change in non-cash working capital

CASH FLOW FROM (USED IN) INVESTING ACTIVITIES Corporate acquisitions, net of cash received (Note 3) Acquisition of petroleum and natural gas properties Proceeds on disposition of petroleum and natural gas properties Capital expenditures Net reclamation fund contributions (Note 4) Change in non-cash working capital

DECREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR CASH AND CASH EQUIVALENTS, END OF YEAR

$

356,935

2004 $

241,690

5,545 1,660 264,515 – (6,359) 17,215 (4,881) (17,919)

3,951 (26,100) 239,674 (841) (18,427) 8,086 (3,232) 1,617

616,711

446,418

258,190 62,478 (8,214) 259,691 (12,218) (318,238) (1,000) (179)

(162,555) 177,322 (8,347) 19,301 (152) (301,936) (1,000) (397)

240,510

(277,764)

(504,996) (93,824) 2,538 (257,895) (2,197) (5,260)

(39,385) 529 57,691 (192,591) (4,113) 1,333

(861,634)

(176,536)

(4,413) 4,413

(7,882) 12,295

$

AR 2005

For the years ended December 31 (Cdn$ thousands)

4,413

See accompanying notes to the consolidated financial statements.

57

2005  

Annual Report

2005  

Annual Report

Advertisement