Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Statement of Cash Flows [Abstract]    
Net income (loss) attributable to Magellan Petroleum Corporation $ 15,509 $ (19,767)
Adjustments to reconcile net loss to net cash used in operating activities:    
Foreign transaction loss 165 18
Depletion, depreciation, amortization, and accretion 1,123 1,121
Fair value revision of contingent consideration payable (2,403) (458)
Accretion expense of contingent consideration payable 315 326
Gain on disposal of Amadeus Basin assets (30,012) 0
Exploration costs previously capitalized 733 2,299
Stock based compensation 2,009 848
Impairment loss 0 890
Severance benefit costs 0 418
Net changes in operating assets and liabilities:    
Accounts receivable 52 84
Inventories (184) (47)
Prepayments and other current assets (694) 82
Accounts payable and accrued liabilities 1,719 (3,079)
Net cash used in operating activities (11,668) (17,265)
INVESTING ACTIVITIES:    
Additions to property and equipment 20,923 2,732
Proceeds from Amadeus Basin sale 18,554 0
Net cash used in investing activities (2,369) (2,732)
FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 201 0
Repurchase of common stock (11) (9,333)
Repurchase of warrant 0 (813)
Proceeds from issuance of preferred stock, net of $520 issuance cost 0 22,982
Short term debt issuances 1,000 2,000
Short term debt repayments (1,441) (1,999)
Long term debt repayments 0 (480)
Payment of Preferred stock dividend (429) 0
Net cash (used in) provided by financing activities (680) 12,357
Net cash used in operating activities of discontinued operations (31) (766)
Net cash used in investing activities of discontinued operations (1,412) (192)
Net cash used in discontinued operations (1,443) (958)
Effect of exchange rate changes on cash and cash equivalents 113 (148)
Net decrease in cash and cash equivalents (16,047) (8,746)
Cash and cash equivalents at beginning of period 32,469 41,215
CASH AND CASH EQUIVALENTS AT END OF PERIOD 16,422 32,469
Cash (receipts) payments:    
Interest paid 18 63
Interest received (102) (698)
Supplemental schedule of non-cash investing and financing activities:    
Preferred stock dividends paid in kind 1,037 0
Securities available-for-sale received upon sale of Amadeus Basin assets 19,147 0
Unrealized holding loss on securities available-for-sale (7,256) (112)
Revision to estimate of asset retirement obligation 0 (758)
Accounts payable related to capital expenditure 846 81
Accrued preferred stock dividends 429 202
Accretion of preferred stock to fair value 0 520
Amounts in accrued and other liabilities related to Sopak 1,571 1,000
Amounts in prepaid and other assets related to Sopak $ 1,571 $ 1,000