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For a comprehensive discussion of all identified risks, refer to the Company's Annual Information Form, which can be found at www.sedar.com.
The Company has a number of contingencies as at December 31, 2012. Refer to the notes to the Company's consolidated financial statements for a complete list of the contingencies and any potential effects on the Company.
OUTSTANDING SHARE DATA
At February 13, 2013, the Company had the following outstanding shares:
---------------------------------------------------------------------------- Number Cdn$ Amount (1)----------------------------------------------------------------------------Common shares 70,215,911 1,477,589,000Preferred shares Nil NilStock options 4,951,751 ----------------------------------------------------------------------------- (1) This is the dollar amount received for common shares issued excluding share issue costs and is presented in Canadian dollars. The U.S. dollar equivalent at February 13, 2013 is $1,324,234,000.
ABBREVIATIONS
Bcfe billion cubic feet equivalentBbl barrelBG Group BG Group plcCEO Chief Executive OfficerCICA Canadian Institute of Chartered AccountantsFPSO floating production, storage and off-loading vesselGPSA gas purchase and sale agreementGSPC Gujarat State Petroleum Corporation Ltd.GOB Government of BangladeshGOI Government of IndiaGRI Government of the Republic of IndonesiaGTT Government of Trinidad and TobagoIASB International Accounting Standards BoardIFRS International Financial Reporting StandardsLNG Liquefied Natural GasMcf thousand cubic feetMcfe thousand cubic feet equivalentMD&A management's discussion and analysisMMBtu million British thermal unitsMMcfe million cubic feet equivalentMMcf million cubic feetPSC production sharing contractReliance Reliance Industries Limited/d per dayAll amounts are in thousands of U.S. dollars unless otherwise stated.All thousand cubic feet equivalent (Mcfe) figures are based on the ratio of1bbl:6Mcf.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
----------------------------------------------------------------------------(unaudited) As at As at(thousands of U.S. dollars) Dec 31, 2012 Mar 31, 2012----------------------------------------------------------------------------AssetsCurrent assets Cash and cash equivalents 43,928 64,495 Restricted cash 1,337 6,790 Accounts receivable (note 3) 85,212 61,247 Short-term investment 188 748 Inventories 11,375 9,961---------------------------------------------------------------------------- 142,040 143,241----------------------------------------------------------------------------Restricted cash 13,270 11,283Long-term accounts receivable 1,294 2,202Long-term investment 2,764 2,752Exploration and evaluation assets (note 4) 801,856 856,880Property, plant and equipment (note 5) 412,253 509,091Income tax receivable (note 14e) 26,203 34,724Deferred tax asset 61,981 58,314---------------------------------------------------------------------------- 1,461,661 1,618,487----------------------------------------------------------------------------LiabilitiesCurrent liabilities Accounts payable and accrued liabilities 154,602 101,660 Current tax payable 1,283 1,220 Finance lease obligation 4,804 4,804 Convertible debentures (note 6) - 306,052---------------------------------------------------------------------------- 160,689 413,736----------------------------------------------------------------------------Decommissioning obligation 41,944 40,017Finance lease obligation 39,648 43,671Borrowings 90,000 25,000Convertible notes (note 6) 80,730 -Deferred tax liability 176,127 195,515---------------------------------------------------------------------------- 589,138 717,939----------------------------------------------------------------------------Shareholders' EquityShare capital (note 7) 1,324,234 1,171,439Contributed surplus 134,384 104,964Equity component of convertible debentures and notes 23,232 14,765Currency translation reserve (3,380) (2,094)Deficit (605,947) (388,526)---------------------------------------------------------------------------- 872,523 900,548---------------------------------------------------------------------------- 1,461,661 1,618,487----------------------------------------------------------------------------The accompanying notes are an integral part of these financial statements.
