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Tethys Petroleum Limited Press Release: 2016 Q3 Results

Tethys Petroleum Limited Consolidated Statements of Cash Flows (in thousands of US dollars) Three months ended
September 30
Nine months ended
September 30
Cash flow from operating activities Loss before tax from continuing operations (4,218 ) (4,531 ) (15,159 ) (34,764 ) Loss before tax from discontinued operations – (11 ) – (88 ) Adjustments for: Share based payments 20 93 183 358 Net finance cost 893 321 4,835 2,848 Depreciation, depletion and amortisation 2,473 3,716 8,256 25,004 Profit on sale of fixed assets – (10 ) (10 ) (53 ) Fair value gain on derivative financial instruments (4 ) (236 ) (274 ) 233 Net unrealised foreign exchange loss/(gain) 109 (87 ) (246 ) (61 ) Loss from jointly controlled entity – 15 – 250 Movement in provisions (100 ) (1,308 ) (1,736 ) (3,298 ) Net change in working capital (883 ) (3,085 ) (1,099 ) (970 ) Cash used in operating activities (1,710 ) (5,123 ) (5,250 ) (10,541 ) Corporation tax paid (7 ) – (28 ) (134 ) Net cash used in operating activities (1,717 ) (5,123 ) (5,278 ) (10,675 ) Cash flow from investing activities: Interest received – 46 – 137 Expenditure on exploration and evaluation assets (90 ) (1,588 ) (545 ) (5,530 ) Expenditure on property, plant and equipment (228 ) (350 ) (509 ) (2,389 ) Proceeds from sale of fixed assets – 8 33 121 Movement in restricted cash (2 ) (87 ) 146 (238 ) Movement in advances to construction contractors 193 (11 ) (6 ) 179 Movement in value added tax receivable 131 339 559 1,058 Net change in working capital 200 598 239 (924 ) Net cash generated/(used) in investing activities 204 (1,045 ) (83 ) (7,586 ) Cash flow from financing activities: Proceeds from issuance of borrowings, net of issue costs 4,430 5,000 7,930 23,235 Repayment of borrowings (715 ) (288 ) (1,289 ) (4,953 ) Interest paid on borrowings (903 ) (311 ) (2,616 ) (1,219 ) Movement in other non-current liabilities (22 ) (27 ) (90 ) (83 ) Net cash generated from financing activities 2,790 4,374 3,935 16,980 Effects of exchange rate changes on cash and cash equivalents (177 ) 1,138 (46 ) 1,699 Net increase/(decrease) in cash and cash equivalents 1,100 (656 ) (1,472 ) 418 Cash and cash equivalents at beginning of the period 700 4,942 3,272 3,868 Cash and cash equivalents at end of the period 1,800 4,286 1,800 4,286

 

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