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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
OPERATING    
Net earnings (loss) $ 15,677 $ (78,736)
Adjustments for:    
Depletion, depreciation and amortization 34,291 40,036
Asset retirement obligation accretion 270 256
Deferred lease inducement (90) (91)
Impairment loss 14,500 79,025
Stock-based compensation 3,536 1,478
Finance costs 5,075 6,233
Unrealized (gain) loss on financial instruments (9,335) 8,121
Unrealized loss on foreign currency translation (135) (35)
Gains (losses) on disposals of non-current assets (207) 0
Asset retirement obligations settled (300) (695)
Changes in non-cash working capital 5,910 3,858
Net cash generated by operating activities 69,192 59,450
INVESTING    
Additions to intangible exploration and evaluation assets (9,288) (16,905)
Additions to petroleum and natural gas assets (30,832) (20,301)
Additions to other assets (586) (953)
Proceeds from asset dispositions 207 0
Changes in restricted cash 0 18,323
Changes in non-cash working capital 251 (1,587)
Net cash used in investing activities (40,248) (21,423)
FINANCING    
Interest paid (4,767) (8,506)
Increases in long-term debt 508 85,328
Repayment of convertible debentures 0 (73,375)
Repayments of borrowings, classified as financing activities (17,797) (26,041)
Dividends paid, classified as financing activities (2,527) 0
Changes in non-cash working capital (3) 0
Net cash used in financing activities (24,586) (22,594)
Currency translation differences relating to cash and cash equivalents (102) 548
NET INCREASE IN CASH AND CASH EQUIVALENTS 4,256 15,981
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 47,449 31,468
CASH AND CASH EQUIVALENTS, END OF YEAR $ 51,705 $ 47,449