• CLEAN AND ENVIRONMENTALLY FRIENDLY Natural gas is the cleanest and most environmentally friendly of all fossil fuels...Read more

  • WELL DRILLING PADThe size of a typical drilling pad is about 1 hectare. To compare, the floorage of an average shopping centre is 4.5 hectares... Read more

  • SECURING OF WELL DRILLING PADA drilling pad as well as the adjacent pool are reinforced and tightened with concrete slabs. Protective foil is additionally laid where necessary.

  • WORK NOISEWell drilling does not produce onerous noise. The intensity of sounds generated in connection with drilling work is lower than that generated by street traffic.Read more

  • SAFETY OF FRACTURING PROCESSIn Poland, exploration wells in shale rock are drilled to depths of over 2.5 km.Read more

  • COMPOSITION OF FRACTURING FLUIDFracturing fluid is 95% water. Read more

  • NO MAJOR LANDSCAPE INTERFERENCEIf gas production is launched, the land surrounding the isolated, secured zone, is subject to a reclamation treatment. Read more

Notes to the Consolidated Financial Statements – Contents

33. Causes of Differences between Items of the Statement of Financial Position and Changes which are due to Changes in certain Items of the Statement of Cash Flows, and break-down of “other adjustments” under operating activity

in PLN m

Change in cash Jan 1 – Dec 31 2012 Jan 1 – Dec 31 2011
 1) Cash in the statement of financial position at beginning of the period  1,505 1,373
 a) Net exchange differences on cash at beginning of the period*  1 -
 Cash and cash equivalents in the statement of cash flows at beginning of the period (1-a)  1,504 1,373
 1) Cash in the statement of financial position at end of the period  1,948 1,505
 a) Net exchange differences on cash at end of the period  1 1
 Cash and cash equivalents in the statement of cash flows at end of the period (2-b)  1,947 1,504
 I. Change in cash in the statement of financial position (2-1)  443 132
 II. Change in net exchange differences on cash (b-a)   -  1
Change in cash in the statement of cash flows (I - II) 443 131
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Negative amounts represent excess of foreign exchange losses on translating cash and reduce the balance of cash in the statement of financial position. In the statement of cash flows these dirfferences are eliminated.

* Negative amounts represent excess of foreign exchange losses on translating cash and reduce the balance of cash in the statement of financial position. In the statement of cash flows these dirfferences are eliminated.

in PLN m

Change in receivables Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Change in other financial assets in the statement of financial position (114) 30
Change in receivables in the statement of financial position (1,996) 9
Change in lease receivables in financial assets – adjustment to investment activity   -  (30)
Change in lease receivables – adjustment to investment activity  -  (2)
Change in investment receivables under sale and purchase of intangible assets and property, plant and equipment  3 4
Change in prepayments for property, plant and equipment (28) 1
Due and payable portion of loans advanced 117  - 
Changes in the Group 284  - 
Change in receivables in the statement of cash flows (1,734) 12
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in PLN m

Change in inventories Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Change in inventory in the statement of financial position (982) (1,033)
Tangible assets under construction transferred to inventory – adjustment to investment activity   -  2
Changes in the Group 362  - 
Change in inventory in the statement of cash flows (620) (1,031)
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in PLN m

Change in employee benefit obligations Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Change in employee benefit obligations in the statement of financial position 169 49
Changes in the Group  (96)  - 
Change in employee benefit obligations in the statement of cash flows 73 49
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in PLN m

Change in provisions Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Change in provisions in the statement of financial position 599 106
Change in provision for well decommissioning costs which adjusts property, plant and equipment – adjustment to investment activity  (425) (105)
Changes in the Group (34)  - 
Change in provisions in the statement of cash flows 140 1
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in PLN m

Change in current liabilities Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Change in current liabilities in the statement of financial position 431 133
Change in investment liabilities under purchase of intangible assets and property, plant and equipment  32 167
Changes in the Group (248)  - 
Other  33 (1)
Change in current liabilities in the statement of cash flows 248 299
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in PLN m

Change in other assets in the statement of financial position Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Change in other assets in the statement of financial position (28) (7)
Change in other assets in the statement of financial position (6) (3)
Expense (fees and commission) related to the note issuance programme (5) 8
Changes in the Group 17  - 
Change in other assets in the statement of cash flows (22) (2)
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in PLN m

Change in deferred income Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Change in deferred income in the statement of financial position 294 72
Deferred income related to leased out tangible assets – reclassification within operating activity   -   - 
Non-current assets received free of charge   -   - 
Subsidies received for property, plant and equipment (362) (152)
Changes in the Group  -   - 
Other 2  - 
Change in deferred income in the statement of cash flows (66) (80)
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in PLN m

Other items, net, under operating activity  Period from Jan 1 – Dec 31 2012 Period from Jan 1 – Dec 31 2011
Derivative Instruments 17 240
Written-down expenditure on non-financial non-current assets  196 289
Acquired CO2 emission allowances (50)  - 
Tax refund – investment tax credit (Norway) 126  - 
Other items, net, under operating activity 167 (2)
Total 456 527
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