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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
OPERATING    
Net earnings (loss) $ 40,338 $ (77,397)
Adjustments for:    
Depletion, depreciation and amortization 25,434 31,049
Asset retirement obligation accretion 207 259
Impairment (recovery) loss (31,521) 73,495
Share-based compensation 9,267 857
Finance costs 1,141 2,520
Unrealized loss on financial instruments 88 180
Unrealized loss (gain) on foreign currency translation 12 (62)
Asset retirement obligations settled (135) (458)
Changes in working capital 131 1,266
Net cash generated by operating activities 44,962 31,709
INVESTING    
Additions to intangible exploration and evaluation assets (2,089) (337)
Additions to petroleum and natural gas assets (24,636) (6,726)
Additions to other assets (97) (435)
Changes in working capital 7,601 (3,544)
Net cash used in investing activities (19,221) (11,042)
FINANCING    
Issue of common shares (340) 0
Interest paid (856) (1,918)
Increase in long-term debt 415 406
Payments on lease obligations (1,932) (1,703)
Repayments of long-term debt (18,937) (16,504)
Changes in working capital (365) 161
Net cash used in financing activities (22,015) (19,558)
Currency translation differences relating to cash (307) 150
NET INCREASE IN CASH 3,419 1,259
CASH, BEGINNING OF YEAR 34,510 33,251
CASH, END OF YEAR $ 37,929 $ 34,510