Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 108,422,000 $ 47,363,000 $ 23,627,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Accretion of discount-Asset Retirement Obligation 666,000 617,000 582,000
Depletion, depreciation and amortization 62,320,000 38,907,000 29,225,000
Stock-based compensation expense 772,000 295,000 317,000
Loss from equity investments 1,418,000 977,000 706,000
Interest income-note receivable (147,000) (267,000) (547,000)
Unrealized gain on derivative instruments (25,000)    
Deferred income tax benefit (372,000) (95,000) 120,000
Amortization of loan commitment fees 540,000    
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (13,067,000) (5,460,000) 3,051,000
(Increase) decrease in accounts receivable-related party (4,158,000) (437,000) 965,000
Decrease (increase) in prepaid expenses 405,000 315,000 (1,002,000)
Increase in other assets   (75,000)  
Increase (decrease) in accounts payable and accrued liabilities 1,612,000 4,948,000 (3,686,000)
Settlement of asset retirement obligation (248,000) (1,253,000) (59,000)
Net cash provided by operating activities 158,138,000 85,835,000 53,299,000
Cash flows from investing activities:      
Deductions to cash held in escrow 8,000 8,000 8,000
Additions to other property, plant and equipment (415,000) (427,000) (14,000)
Additions to oil and gas properties (287,292,000) (101,644,000) (49,533,000)
Proceeds from sale of oil and gas properties 1,384,000 304,000 18,286,000
Advances on note receivable to related party (3,182,000) (2,877,000) (4,377,000)
Net cash used in investing activities (323,248,000) (105,315,000) (39,246,000)
Cash flows from financing activities:      
Principal payments on borrowings (97,634,000) (52,711,000) (18,303,000)
Borrowings on line of credit 48,000,000 52,200,000  
Loan commitment fees (981,000) (1,144,000)  
Proceeds from issuance of common stock, net of offering costs, and exercise of stock options 307,154,000 21,879,000 30,000
Net cash provided by (used in) financing activities 256,539,000 20,224,000 (18,273,000)
Net increase (decrease) in cash and cash equivalents 91,429,000 744,000 (4,220,000)
Cash and cash equivalents at beginning of period 2,468,000 1,724,000 5,944,000
Cash and cash equivalents at end of period 93,897,000 2,468,000 1,724,000
Supplemental disclosure of cash flow information:      
Interest payments 991,000 1,949,000 2,300,000
Income tax payments 1,000 40,000 543,000
Supplemental disclosure of non-cash transactions:      
Capitalized stock based compensation 515,000 197,000 212,000
Asset retirement obligation capitalized 1,390,000 1,328,000 361,000
Foreign currency translation gain (loss) on investment in Grizzly Oil Sands ULC (855,000) 1,313,000 3,656,000
Foreign currency translation gain (loss) on note receivable-related party (1,085,000) 942,000 1,843,000
Grizzly Oil Sands ULC [Member]
      
Cash flows from investing activities:      
Contributions to investment in (22,676,000) (842,000)  
Tatex Thailand II, LLC [Member]
      
Cash flows from investing activities:      
Distribution from investment in 870,000 565,000 197,000
Tatex Thailand III, LLC [Member]
      
Cash flows from investing activities:      
Contributions to investment in (3,794,000) (402,000) (3,813,000)
Bison Drilling And Field Services LLC [Member]
      
Cash flows from investing activities:      
Contributions to investment in (6,009,000)    
Muskie Holdings LLC [Member]
      
Cash flows from investing activities:      
Contributions to investment in $ (2,142,000)