JPMorgan - KASE

Hurricane Hydrocarbons Ltd.
Interim consolidated statements of cash flow
(expressed in thousands of U.S.$) unaudited
9 months
ended
Sept. 30,
2002
3 months
ended
Sept. 30,
2002
9 months
ended
Sept. 30,
2001
3 months
ended
Sept. 30,
2001
Cash provided by (used in):
Operating activities
Netincome ..................................... 117,430 60,513 146,296 46,490
Items not affecting cash:
Depletion and depreciation ................... 29,064 11,686 24,618 9,041
Othernon-cashcharges ....................... 3,739 3,111 (1,042) (493)
Minority interest ............................. 1,672 391 1,153 907
Futureincometax............................ 6,312 2,206 (3,699) (2,126)
Cashflow ....................................... 158,217 77,907 167,326 53,819
Changes in non-cash operating working capital items
(Note15) ..................................... (31,548) (6,033) (47,558) 7,702
Cash flow from operating activities ................. 126,669 71,874 119,768 61,521
Financing activities
Short term debt .............................. 18,721 12,659 49,478 22,478
Common share dividends ..................... — — (31,830) (31,830)
Redemption of series 5 warrants ............... — — (9,425) —
Long term debt (Note 15) ..................... 18,811 244 (38,355) (2,722)
Proceeds from issue of share capital, net of share
issuance costs .............................. 740 127 491 458
Shares repurchased (Note 10) .................. (3,066) (3,066) — —
Preferred share dividends ..................... (23) (7) (18) (2)
Funds provided by (used for) financing ............. 35,183 9,957 (29,659) (11,618)
Investing activities
Long-term investment ........................ 40,000 — — —
Capitaladditions ............................. (101,559) (48,055) (50,096) (27,773)
Purchaseofpreferredsharesofsubsidiary ....... (2,859) (2,852) (63) (8)
Funds provided by (used for) investing .............. (64,418) (50,907) (50,159) (27,781)
Increase in cash ................................ 97,434 30,924 39,950 22,122
Cash and cash equivalents position,
Beginning of period ............................ 64,812 131,322 59,298 77,126
Cash and cash equivalents position,
End of period .................................. 162,246 162,246 99,248 99,248
F-4