Group Statement of Cash Flows

For the year ended 31 December 2016

  Section 2016
US$m
2015
US$m
Cash flows from operating activities      
Loss before taxation   (151.5) (497.8)
 
Unsuccessful exploration costs
  70.3  
97.4
Depreciation and amortisation   2.7 3.4
Share-based payments charge   16.7 15.2
Impairment of intangible exploration/appraisal assets   25.3 17.9
Impairment of property, plant & equipment - development assets   - 25.1
Gain on disposal of oil and gas assets   - (26.6)
Inventory disposal/write down   0.7 (0.2)
Impairment of available-for-sale financial assets   - 318.6
Finance income   (14.0) (19.8)
Finance costs   17.3 20.3
Interest paid   - (0.2)
Income tax received from operating activities   6.8 23.6
Other receivables movement 3.3 (0.8) 4.3
Trade and other payables movement 3.4 6.0 6.1
Provisions movement   (0.1) (2.4)

Net cash used in operating activities
  (20.6) (15.1)
 
Cash flows from investing activities
     
Expenditure on intangible exploration/appraisal assets   (149.1) (208.4)
Expenditure on property, plant & equipment -  development assets   (125.2) (114.2)
Income tax received from investing activities   28.7 28.2
Proceeds on disposal of oil and gas assets   - 54.7
Movement on inventory   0.6 0.8
Purchase of other property, plant & equipment and intangible assets   (4.5) (2.1)
Interest received   2.3 3.6

Net cash used in investing activities
  (247.2) (237.4)
 
Cash flows from financing activities
     
Facility, arrangement fees and bank charges   (5.0) (6.3)
Proceeds from exercise of share options   0.9 0.1

Net cash flows used in financing activities
  (4.1) (6.2)
 
Net decrease in cash and cash equivalents
   
(271.9)
(258.7)
Opening cash and cash equivalents at beginning of year   602.8 869.3
Foreign exchange differences   4.0 (7.8)

Closing cash and cash equivalents
 
3.2
334.9 602.8