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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING    
Net (loss) earnings $ (3,995) $ 15,677
Adjustments for:    
Depletion, depreciation and amortization 34,948 34,291
Asset retirement obligation accretion 215 270
Deferred lease inducement 0 (90)
Impairment loss 7,937 14,500
Share-based compensation 2,237 3,536
Finance costs 4,256 5,075
Unrealized loss (gain) on financial instruments 1,586 (9,335)
Unrealized gain on foreign currency translation (153) (135)
Gain on asset dispositions (114) (207)
Asset retirement obligations settled (46) (300)
Changes in non-cash working capital (2,035) 5,910
Net cash generated by operating activities 44,836 69,192
INVESTING    
Additions to intangible exploration and evaluation assets (5,377) (9,288)
Additions to petroleum and natural gas assets (30,626) (30,832)
Additions to other assets (929) (586)
Proceeds from asset dispositions 114 207
Changes in non-cash working capital (291) 251
Net cash used in investing activities (37,109) (40,248)
FINANCING    
Issue of common shares for cash 547 0
Interest paid (3,664) (4,767)
Increase in long-term debt 476 508
Payments on lease obligations (1,945) 0
Repayments of long-term debt (16,523) (17,797)
Dividends paid (5,078) (2,527)
Changes in non-cash working capital (200) (3)
Net cash used in financing activities (26,387) (24,586)
Currency translation differences relating to cash and cash equivalents 206 (102)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (18,454) 4,256
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 51,705 47,449
CASH AND CASH EQUIVALENTS, END OF YEAR $ 33,251 $ 51,705