| Cash Flow for Gastar Exploration Ltd (GST) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Net Income | (30,540) | (84,839) | (25,692) | (6,679) | | Depreciation & Amortization | 21,456 | 16,332 | 13,914 | 4,173 | | Deferred Income Taxes | - | - | - | - | | Operating Losses | (26,502) | - | 11,094 | 3,053 | | Extraordinary Losses | - | - | - | - | | | Decrease in Receivables | 7,395 | (5,607) | (5,042) | (1,495) | | Decrease in Inventories | - | - | - | - | | Decrease in Other Current Assets | (1,000) | - | - | (5) | | Increase in Payables | (479) | 7,623 | 9,951 | 575 | | Increase in Other Current Liabilities | - | - | - | - | | Decrease in Other Working Capital | - | - | - | - | | Other Non-Cash Items | 32,743 | 60,423 | - | - | | Net Cash from Continuing Operations | 7,442 | (1,281) | 8,202 | (1,095) | | Net Cash from Discontinued Operations | - | - | - | - | | Cash from Operating Activities | 7,442 | (1,281) | 8,202 | (1,095) | | | | Sale of Property, Plant, Equipment | 66,513 | - | 2 | 3,296 | | Sale of Short Term Investments | - | - | - | - | | | Purchase of Property, Plant, Equipment | (64,910) | (58,053) | (88,441) | (16,630) | | Acquisitions | - | - | - | - | | Purchase of Short Term Investments | - | - | - | - | | Other Investment Changes, Net | (5,070) | (8,941) | 5,784 | (4,834) | | Cash from Investing Activities | (3,467) | (66,994) | (82,655) | (18,168) | | | Issuance of Debt | 99,500 | - | 73,000 | 58,250 | | Issuance of Capital Stock | 23,388 | 47,915 | 91,216 | - | | | Repayment of Debt | (73,000) | - | (41,483) | (2,442) | | Repurchase of Capital Stock | - | - | - | (888) | | Payment of Cash Dividends | - | - | - | - | | Other Financing Charges, Net | (8,742) | (51) | (2,978) | (20,500) | | Cash from Financing Activities | 41,146 | 47,864 | 119,755 | 34,419 | | | | Effect of Exchange Rate Changes | - | - | - | 4 | | Net Change in Cash | 45,121 | (20,411) | 45,302 | 15,160 | | | Cash at Beginning of Year | 40,733 | 61,144 | 15,842 | 681 | | Cash at End of Period | 85,854 | 40,733 | 61,144 | 15,841 | | | |
