Group Statement of Cash Flows
For the six months ended 30 June 2010
| Notes | Six months ended 30 June 2010 (unaudited) $m |
Six months ended 30 June 2009 (restated) (unaudited) $m |
Year ended 31 December 2009 (restated) (audited) $m |
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|---|---|---|---|---|---|---|---|
| Cash flows from operating activities | |||||||
| Profit/(loss) before taxation | 58.4 | (117.6) | (73.2) | ||||
| Exceptional revenue provision | – | 64.0 | 64.0 | ||||
| Unsuccessful exploration costs | 40.8 | 24.0 | 57.4 | ||||
| Depletion, depreciation, decommissioning and amortisation | 76.7 | 26.6 | 68.5 | ||||
| Share-based payments charge | 44.1 | 8.1 | 43.4 | ||||
| Impairment and exceptional impairment | 10.5 | 0.5 | 138.8 | ||||
| Gain on sale of intangible exploration/appraisal assets | – | – | (15.0) | ||||
| Exceptional gain on disposal of non-controlling interests | – | – | (199.5) | ||||
| Finance income | (11.8) | (27.1) | (43.2) | ||||
| Finance costs | 17.9 | 33.7 | 31.7 | ||||
| Exceptional finance costs | – | 31.6 | 31.6 | ||||
| Net interest paid | (15.2) | (9.0) | (14.7) | ||||
| Income tax paid | (46.7) | (11.5) | (50.8) | ||||
| Foreign exchange differences | (1.6) | (6.4) | 4.1 | ||||
| Movement on inventory of oil and condensate | (21.6) | (0.5) | (9.6) | ||||
| Trade and other receivables movement | (67.3) | (46.5) | 33.3 | ||||
| Trade and other payables movement | 47.5 | 34.5 | 5.0 | ||||
| Movement in other provisions | (6.6) | (29.2) | 39.1 | ||||
| Net cash from/(used in) operating activities | 125.1 | (24.8) | 110.9 | ||||
| Cash flows from investing activities | |||||||
| Expenditure on intangible exploration/appraisal assets | (180.7) | (31.4) | (128.1) | ||||
| Expenditure on property, plant & equipment – development/producing assets | (270.5) | (428.0) | (785.0) | ||||
| Purchase of property, plant & equipment – other | (1.6) | (0.3) | (1.8) | ||||
| Purchase of intangible assets – other | (3.6) | (1.7) | (4.0) | ||||
| Buy-back of shares in subsidiary out of capital | – | – | (3.7) | ||||
| Proceeds on disposal of intangible exploration/appraisal assets | 63.5 | – | 5.1 | ||||
| Proceeds on disposal of property, plant & equipment – other | – | 0.1 | – | ||||
| Movement in funds on bank deposits | (87.2) | (132.8) | 288.0 | ||||
| Interest received | 31.3 | 26.2 | 38.9 | ||||
| Net cash used in investing activities | (448.8) | (567.9) | (590.6) | ||||
| Cash flows from financing activities | |||||||
| Proceeds from sale of non-controlling interests | 1.2 | – | 241.4 | ||||
| Arrangement and facility fees | (19.7) | – | (34.9) | ||||
| Proceeds from shares issued for cash | – | 157.8 | 157.8 | ||||
| Proceeds from exercise of share options | 8.4 | 0.2 | 4.7 | ||||
| Purchase of own shares | (9.7) | – | – | ||||
| Payment of finance lease liabilities | (0.7) | (1.5) | (2.4) | ||||
| Proceeds of borrowings | 164.6 | 350.0 | 166.1 | ||||
| Net cash flows from financing activities | 144.1 | 506.5 | 532.7 | ||||
| Net (decrease)/increase in cash and cash equivalents | (179.6) | (86.2) | 53.0 | ||||
| Opening cash and cash equivalents at beginning of period | 1,176.5 | 1,113.0 | 1,113.0 | ||||
| Exchange gains on cash and cash equivalents | 0.4 | 35.4 | 10.5 | ||||
| Closing cash and cash equivalents | 9 | 997.3 | 1,062.2 | 1,176.5 | |||