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Equity component of Number of Common convertible Shares Share capital debenturesBalance at December 31, 2010 172,485,301 $ 426,925 $ 2,592Elimination of deficit (note 12) - (255,543) -Equity component of convertible debentures, net of tax of $1.5 million (note 9) - - 2,427Share-based payments (note 12) - - -Options exercised (note 12) 64,400 78 -Loss for the year - - - ----------------- --------------- ---------------Balance at December 31, 2011 172,549,701 171,460 5,019Share-based payments (note 12) - - -Loss for the year - - - ----------------- --------------- ---------------Balance at December 31, 2012 172,549,701 $ 171,460 $ 5,019---------------------------------------------------------------------------- Total Contributed shareholders' surplus Deficit equityBalance at December 31, 2010 $ 7,921 $ (255,543) $ 181,895Elimination of deficit (note 12) - 255,543 -Equity component of convertible debentures, net of tax of $1.5 million (note 9) - - 2,427Share-based payments (note 12) 1,491 - 1,491Options exercised (note 12) (27) - 51Loss for the year - (22,444) (22,444) --------------- --------------- ---------------Balance at December 31, 2011 9,385 (22,444) 163,420Share-based payments (note 12) 1,033 - 1,033Loss for the year - (31,493) (31,493) --------------- --------------- ---------------Balance at December 31, 2012 $ 10,418 $ (53,937) $ 132,960----------------------------------------------------------------------------See accompanying notes to the consolidated financial statements.ANDERSON ENERGY LTD.Consolidated Statements of Cash FlowsYEARS ENDED DECEMBER 31, 2012 AND 2011(Stated in thousands of dollars)(Unaudited) 2012 2011CASH PROVIDED BY (USED IN)OPERATIONSLoss for the year $ (31,493) $ (22,444)Adjustments for: Unrealized loss (gain) on derivative contracts (note 14) 2,481 (3,302) Loss (gain) on sale of property, plant and equipment (note 14) 721 (4,710) Depletion and depreciation 44,396 52,929 Impairment of property, plant and equipment 20,000 35,230 Share-based payments 756 960 Accretion on decommissioning obligations (note 10) 1,068 1,630 Accretion on convertible debentures (note 9) 1,957 1,434 Deferred income tax benefit (10,245) (7,263)Decommissioning expenditures (note 10) (506) (249)Changes in non-cash working capital (note 18) 704 94 ---------- ----------Net cash provided by operations 29,839 54,309FINANCINGIncrease (decrease) in bank loans (40,588) 35,963Proceeds from issue of convertible debentures, net of issue costs (note 9) - 43,860Proceeds from exercise of stock options - 51Changes in non-cash working capital (note 18) (175) (324) ---------- ----------Net cash provided by (used in) financing (40,763) 79,550INVESTINGProperty, plant and equipment expenditures (34,901) (170,906)Proceeds from sale of property, plant and equipment 73,891 11,631Changes in non-cash working capital (note 18) (28,066) 21,393 ---------- ----------Net cash provided by (used in) investing 10,924 (137,882)Increase (decrease) in cash and cash equivalents - (4,023)Cash and cash equivalents, beginning of year 1 4,024 ---------- ----------Cash and cash equivalents, end of year $ 1 $ 1---------------------------------------------------------------------------Interest received in cash $ 54 $ 78Interest paid in cash $ (12,848) $ (4,565)---------------------------------------------------------------------------See accompanying notes to the consolidated financial statements.
