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CONSOLIDATED STATEMENT OF CASH FLOW - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Profit (Loss) for the year $ 102,667 $ (17,837) $ (60,646)
Adjustments for:      
Income tax expense 106,240 43,145 11,804
Depreciation 92,240 74,885 75,774
Loss on disposal of property, plant and equipment 272 190 14
Impairment loss reversed for non-financial assets (4,982) 0 (5,664)
Write-off of unsuccessful exploration efforts 26,389 5,834 31,366
Accrual of borrowing's interests 30,444 28,879 27,940
Borrowings cancellation costs 0 17,575 0
Amortization of other long-term liabilities (1,005) (657) (2,924)
Unwinding of long-term liabilities 3,505 2,779 2,693
Accrual of share-based payment 5,446 4,075 3,367
Foreign exchange loss (gain) 11,323 2,193 (13,872)
Unrealized (gain) loss on commodity risk management contracts (42,271) 13,300 3,068
Income tax paid (67,704) (6,925) (1,956)
Changes in working capital (6,358) (25,278) 11,920
Cash flows from operating activities – net 256,206 142,158 82,884
Cash flows from investing activities      
Purchase of property, plant and equipment (124,744) (105,604) (39,306)
Acquisition of business (48,850) 0 0
Proceeds from disposal of long-term assets 9,000 0 0
Cash flows used in investing activities – net (164,594) (105,604) (39,306)
Cash flows from financing activities      
Proceeds from borrowings 36,017 425,000 186
Debt issuance costs paid 0 (6,683) 0
Proceeds from cash calls from related parties 0 1,155 5,210
Repurchase of shares (1,801) 0 (1,991)
Principal paid (15,073) (355,022) (22,645)
Interest paid (27,695) (27,688) (25,490)
Borrowings cancellation costs paid 0 (12,315) 0
Dividends distribution to non-controlling interest (8,089) (479) (6,406)
Payments for transactions with non-controlling interest (81,000) 0 0
Cash flows (used in) from financing activities - net (97,641) 23,968 (51,136)
Net (decrease) increase in cash and cash equivalents (6,029) 60,522 (7,558)
Cash and cash equivalents at 1 January 134,755 73,563 82,730
Currency translation differences (999) 670 (1,609)
Cash and cash equivalents at the end of the year 127,727 134,755 73,563
Ending Cash and cash equivalents are specified as follows:      
Cash in bank and bank deposits 127,707 134,734 73,551
Cash in hand 20 21 12
Cash and cash equivalents $ 134,755 $ 134,755 $ 73,563