Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

 v2.3.0.11
Consolidated Statements Of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 48,439,000 $ 20,370,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of discount - Asset Retirement Obligation 323,000 305,000
Depletion, depreciation and amortization 25,870,000 16,613,000
Stock-based compensation expense 272,000 140,000
Loss from equity investments 958,000 270,000
Interest income - note receivable (76,000) (201,000)
Amortization of loan commitment fees 241,000  
Changes in operating assets and liabilities:    
Increase in accounts receivable (4,920,000) (2,236,000)
Increase in accounts receivable - related party (8,985,000) (23,000)
(Increase) decrease in prepaid expenses (191,000) 46,000
Increase in other assets   (75,000)
Increase in accounts payable and accrued liabilities 3,470,000 156,000
Settlements of asset retirement obligation   (730,000)
Net cash provided by operating activities 65,401,000 34,635,000
Cash flows from investing activities:    
Deductions to cash held in escrow 8,000 8,000
Additions to other property, plant and equipment (92,000) (255,000)
Additions to oil and gas properties (108,368,000) (49,828,000)
Proceeds from sale of oil and gas properties 1,384,000  
Advances on note receivable to related party (3,181,000) (1,169,000)
Net cash used in investing activities (127,427,000) (51,243,000)
Cash flows from financing activities:    
Principal payments on borrowings (54,565,000) (4,425,000)
Borrowings on line of credit 35,000,000  
Loan commitment fees (624,000)  
Proceeds from issuance of common stock, net of offering costs, and exercise of stock options 84,425,000 21,613,000
Net cash provided by financing activities 64,236,000 17,188,000
Net increase in cash and cash equivalents 2,210,000 580,000
Cash and cash equivalents at beginning of period 2,468,000 1,724,000
Cash and cash equivalents at end of period 4,678,000 2,304,000
Supplemental disclosure of cash flow information:    
Interest payments 778,000 1,071,000
Supplemental disclosure of non-cash transactions:    
Capitalized stock based compensation 181,000 93,000
Asset retirement obligation capitalized 449,000 765,000
Foreign currency translation gain (loss) on investment in Grizzly Oil Sands ULC 938,000 (300,000)
Foreign currency translation gain (loss) on note receivable - related party 632,000 (241,000)
Grizzly Oil Sands ULC [Member]
    
Cash flows from investing activities:    
Contributions to investment in (15,539,000)  
Tatex Thailand II, LLC [Member]
    
Cash flows from investing activities:    
Distribution from investment in 329,000 225,000
Tatex Thailand III, LLC [Member]
    
Cash flows from investing activities:    
Contributions to investment in $ (1,968,000) $ (224,000)