Actually was the Accounts Payable; like 2 years ago. But if you look at the MDA they state:
"As at March 31, 2013, our total liabilities amounted to $589.2 million, compared with $288.0 million at March 31,
2012. The increase of $301.2 million, or 105%, from March 31, 2012 was primarily due to an increase of $139.5
million in accounts payable and accrued liabilities, mainly related to timing of payments on certain crude cargo
purchases; receipts of PRE’s $96.0 million initial staged cash payment held as a liability due to their option to
exit the Farm-In Agreement; a net increase of $58.4 million in secured loans payable on drawdown of the ANZ,
BSP and BNP syndicated secured loan facility of $95.9 million (net of transaction costs), partially reduced by the
OPIC loan repayment of $35.5 million during the last quarter of 2012; a $5.2 million increase in income tax
payable on profit before tax earned by our Downstream and Shipping business during the quarter; and a $3.5
million increase in 2.75% convertible note liability due to the convertible liability accretion expense incurred.
These increases however have been partially offset by a $5.1 million reduction in IPI liability mainly attributed to
the waiver or forfeiture of a total of 2.6% IPI interest conversion rights into common shares of the Company."
Oh, like 2 years ago, basically some timing issues and I would guess like 2 years ago we will see in Q2 things will be back to normal; except hopefully by then we have better thngs to celebrate.