Arrow Prospectus - PGS

ARROW SEISMIC ASA – INITIAL PUBLIC OFFERING
9.1.2 Twelve months ended 31 December 2006
The cash flow from operating activities was USD -3.9 million (0.8 million), cash flow from investment activities
was USD -91.2 million (USD -48.3 million), while cash flow from financing activities was USD 80.9 million
(USD 81.8 million).
Draw downs under the long term loan facilities in 2006 was USD 34.4 million and relates to the conversion of
the “Geo Atlantic” and purchase of the “CGG Laurentian”. Repayments of USD 3.9 million were made on
mortgage loans in 2006. Average interest-bearing debt during 2006 was USD 40.4 million and the average rate
of interest payable on the loan portfolio was 6.02%.
Investments in 2006 totalled USD 91.2 million and relates to instalments paid on the high capacity new buildings
for delivery in 2008, the conversion of “Geo Atlantic” and acquisition of the “CGG Laurentian” and the “Polar
Explorer”
9.2 WORKING CAPITAL STATEMENT
In the opinion of the Company, its working capital is sufficient for its present requirements.
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