| Cash Flow for Union Drilling Inc. (UDRL) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Net Income | 30,832 | 31,852 | 5,599 | 3,527 | | Depreciation & Amortization | 39,072 | 24,820 | 15,121 | 8,103 | | Deferred Income Taxes | 9,395 | 8,989 | 3,938 | 131 | | Operating Losses | (998) | (4) | 293 | (1,527) | | Extraordinary Losses | - | - | - | - | | | Decrease in Receivables | 6,898 | (20,230) | (11,355) | (3,633) | | Decrease in Inventories | (128) | (213) | (80) | 20 | | Decrease in Other Current Assets | - | - | - | - | | Increase in Payables | (3,243) | 3,874 | 3,131 | 1,636 | | Increase in Other Current Liabilities | 3,137 | 6,224 | 1,828 | 1,436 | | Decrease in Other Working Capital | - | - | - | - | | Other Non-Cash Items | (670) | 188 | - | - | | Net Cash from Continuing Operations | 82,646 | 57,115 | 17,684 | 9,351 | | Net Cash from Discontinued Operations | - | - | - | - | | Cash from Operating Activities | 82,646 | 57,115 | 17,684 | 9,351 | | | | Sale of Property, Plant, Equipment | 2,318 | 1,074 | 2,347 | 7,080 | | Sale of Short Term Investments | - | - | - | - | | | Purchase of Property, Plant, Equipment | (68,120) | (94,009) | (53,994) | (13,370) | | Acquisitions | - | - | (47,517) | - | | Purchase of Short Term Investments | - | - | - | - | | Other Investment Changes, Net | - | - | - | - | | Cash from Investing Activities | (65,802) | (92,935) | (99,165) | (6,289) | | | Issuance of Debt | 291,268 | 263,505 | 181,153 | 27,696 | | Issuance of Capital Stock | 2,477 | 1,363 | 79,110 | - | | | Repayment of Debt | (311,866) | (236,810) | (180,135) | (27,961) | | Repurchase of Capital Stock | - | - | - | - | | Payment of Cash Dividends | - | - | - | - | | Other Financing Charges, Net | 1,277 | 5,391 | - | - | | Cash from Financing Activities | (16,844) | 33,450 | 80,128 | (265) | | | | Effect of Exchange Rate Changes | - | 2 | (129) | (559) | | Net Change in Cash | - | (2,368) | (1,483) | 2,238 | | | Cash at Beginning of Year | 20 | 2,388 | 3,871 | 1,633 | | Cash at End of Period | 20 | 20 | 2,388 | 3,871 | | | |
