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Bounty Oil & Gas N.L. Annual Report – 2011
CONSOLIDATED STATEMENT OF CASH FLOWS
For Year Ended 30 June, 2011
Cash Flows from Operating Activities
Note 2011
$
Consolidated
2010
$
Receipts from petroleum operations 1,088,322 659,148
Proceeds from sale of securities in listed corporations 1,987,974 971,589
Payments for securities in listed corporations (535,401) (1,994,747)
Payments to suppliers and to employees (2,466,010) (1,986,279)
Interest received 160,143 154,089
Other receipts 9,199 16,448
GST refund 314,165 -
Net cash provided by/(used in) operating activities 16 558,392 (2,179,752)
Cash Flows from Investing Activities
Payments for oil production and development assets (5,212,248) (3,202,641)
Payments for exploration and evaluation assets (1,522,625) (2,000,999)
Payments for property plant and equipment (54,472) (516,380)
Proceeds from sale of exploration assets - 412,500
Loans advanced (292,000) (250,000)
Repayment of Borrowings 200,848 -
Net cash provided by/(used in) investing activities (6,880,497) (5,557,520)
Cash Flows from Financing Activities
Proceeds from issue of shares 5,341,594 10,858,974
Costs associated with issue of shares (490,461) (766,231)
Net cash provided by/(used in) financing activities 4,851,133 10,092,743
Net increase/(decrease) in cash held (1,470,971) 2,355,471
Effects of exchange rate changes on the balance of cash
(55,769) -
held in foreign currencies
Cash at beginning of financial year 4,067,577 1,712,106
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Cash at End of Financial Year
2,540,837 4,067,577
This statement of cash flows is to be read in conjunction with the accompanying notes.
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