I did a little digging and found an old post from last year I made regarding CLL's cashflow. I wanted to follow the money trail during 2006 to 2008 and see what debt was created and which was paid. In addition, by using the accompanying "Note to FS" reference, it should help in delineating interest rates and payment due dates for loan activity prior to 2009).
| Connacher Oil and Gas Limited |
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| Consolidated Statements of Cash Flow |
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| Years Ended December 31 |
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TOTAL |
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| Cash provided by (used in) the following activities: |
2008 - 2006 |
2008 |
2007 |
2006 |
| OPERATING |
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| Net earnings (loss) |
21,311 |
(26,603) |
40,961 |
6,953 |
| Items not involving cash: |
0 |
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| Depletion, depreciation and accretion |
120,458 |
56,448 |
31,061 |
32,949 |
| Stock-based compensation (Note 13) |
18,939 |
4,575 |
6,071 |
8,293 |
| Financing charges - non-cash portion |
13,339 |
8,934 |
2,168 |
2,237 |
| Employee future benefits (Note 12a) |
1,558 |
730 |
447 |
381 |
| Future income tax provision |
4,115 |
7,623 |
27 |
(3,535) |
| Unrealized foreign exchange loss |
129,483 |
122,342 |
2,854 |
4,287 |
| Gain on repurchase of Second Lien Senior Notes |
(2,769) |
(2,769) |
0 |
0 |
| Dilution gain |
(9,904) |
(7,964) |
(1,917) |
(23) |
| Equity interest in Petrolifera earnings |
(21,116) |
(3,085) |
(6,953) |
(11,078) |
| Realized foreign exchange transactions |
(135,168) |
(105,414) |
(29,754) |
0 |
| Lease inducement amortization |
(268) |
0 |
0 |
(268) |
| Cash flow from operations before working capital and other changes |
139,978 |
54,817 |
44,965 |
40,196 |
| Changes in non-cash working capital (Note 16(b)) |
(30,390) |
(27,583) |
6,464 |
(9,271) |
| Pension funding (Note 12) |
(781) |
0 |
(781) |
0 |
| Asset retirement expenditures |
(520) |
(209) |
(311) |
0 |
| |
108,287 |
27,025 |
50,337 |
30,925 |
| FINANCING |
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| Repayment of oil sands term loan |
(180,000) |
0 |
(180,000) |
0 |
| Issue of common shares, net of share issue costs |
174,917 |
761 |
50,968 |
123,188 |
| Increase in bank debt |
415,934 |
0 |
135,856 |
280,078 |
| Repayment of bank debt |
(212,670) |
0 |
(154,963) |
(57,707) |
| Issuance of Convertible Debentures, net of issue costs (Note 10) |
96,010 |
0 |
96,010 |
0 |
| Issuance of Second Lien Senior Notes, net of issue costs (Note 10) |
575,449 |
0 |
575,449 |
0 |
| Repurchase of Second Lien Senior Notes |
(6,262) |
(6,262) |
0 |
0 |
| Deferred financing costs |
(3,925) |
(77) |
(3,848) |
0 |
| Proceeds on unwinding of cross currency swap |
97,600 |
97,600 |
0 |
0 |
| |
957,053 |
92,022 |
519,472 |
345,559 |
| INVESTING |
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| Development of upstream and downstream properties |
(828,230) |
(351,320) |
(301,877) |
(175,033) |
| Proceeds on disposal of oil and gas properties |
10,000 |
0 |
0 |
10,000 |
| Decrease in restricted cash (Note 16(c)) |
8,952 |
72,113 |
59,627 |
(122,788) |
| Acquisition of Luke Energy Ltd. (Note 4) |
(92,692) |
0 |
0 |
(92,692) |
| Acquisition of refining assets (Note 4) |
(61,273) |
0 |
0 |
(61,273) |
| Acquisition of other assets |
(5,185) |
0 |
0 |
(5,185) |
| Exercise of Petrolifera warrants |
(5,143) |
0 |
(5,143) |
0 |
| Change in non-cash working capital (Note 16(b)) |
56,242 |
50,789 |
(8,669) |
14,122 |
| |
(917,329) |
(228,418) |
(256,062) |
(432,849) |
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| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
148,011 |
(109,371) |
313,747 |
(56,365) |
| Impact of foreign exchange on foreign currency denominated cash balances |
141 |
3,924 |
(4,240) |
457 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR (or 2006-blue) |
75,511 |
329,110 |
19,603 |
75,511 |
| CASH AND CASH EQUIVALENTS, END OF YEAR (or 2008) |
223,663 |
223,663 |
329,110 |
19,603 |
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| Supplementary information - Note 16 |
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