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Note - Consolidated Statement of Cash Flow
 12 Months Ended
Dec. 31, 2018
Disclosure Of Consolidated Statement Of Cash Flow [Abstract]  
Disclosure of cash flow statement [text block]
Note
5
Consolidated Statement of Cash Flow
 
The Consolidated Statement of Cash Flow shows the Group's cash flows for the year for operating, investing and financing activities and the change in cash and cash equivalents during the year.
 
Cash flows from operating activities are computed from the results for the year adjusted for non-cash operating items, changes in net working capital, and corporate tax. Income tax paid is presented as a separate item under operating activities.
 
Cash flows from investing activities include payments in connection with the purchase and sale of property, plant and equipment and cash flows relating to the purchase and sale of enterprises to third parties, if any.
 
Cash flows from financing activities include changes in equity, and proceeds from borrowings and repayment of loans.
 
Cash and cash equivalents include bank overdraft and liquid funds with a term of less than three months.
 
The following chart describes non-cash transactions related to the Consolidated Statement of Cash Flow:
 
Amounts in US$ '000
 
2018
 
 
2017
 
 
2016
 
(Decrease) Increase in asset retirement obligation
 
 
(4,355
)
 
 
5,943
 
 
 
1,195
 
(Decrease) Increase in provisions for other long-term liabilities
 
 
(60
)
 
 
2,053
 
 
 
3,468
 
Purchase of property, plant and equipment
 
 
1,100
 
 
 
11,759
 
 
 
(4,657
)
 
Changes in working capital shown in the Consolidated Statement of Cash Flow are disclosed as follows:
 
Amounts in US$ '000
 
2018
 
 
2017
 
 
2016
 
Increase in Prepaid taxes
 
 
(36,716
)
 
 
(14,802
)
 
 
(2,351
)
Decrease (Increase) in Inventories
 
 
511
 
 
 
(2,031
)
 
 
466
 
Decrease (Increase) in Trade receivables
 
 
3,423
 
 
 
(1,344
)
 
 
(4,811
)
Decrease (Increase) in Prepayments and other receivables and Other assets
 
 
655
 
 
 
(8,623
)
 
 
(1,758
)
Customer advance (repayments) payments
(a)
 
 
(10,000
)
 
 
(10,000
)
 
 
20,000
 
Security deposit utilised (granted) (Note 35.3)
 
 
15,600
 
 
 
(15,600
)
 
 
-
 
Increase in Trade and other payables
 
 
20,169
 
 
 
27,122
 
 
 
374
 
 
 
 
(6,358
)
 
 
(25,278
)
 
 
11,920
 
 
 
(a)
In December 2015, the Colombian subsidiary entered into a prepayment agreement with Trafigura under which GeoPark sells and deliver a portion of its Colombian crude oil production. Funds committed were repaid by the Group on a monthly basis through future oil deliveries until December 2018.