Empire Petroleum Corporation

Hello, and thank you for listening to today's conversation with the leadership team at Empire Petroleum concerning the current state of their business and future plans. My name is Wes Harris, and I'm a partner at Alpitri Advisors. Our firm works with the Empire team on investor relations and related matters. Empire recently released their fourth quarter and full year 2022 operational and financial results. A copy of the press release is available on the company's website at www.EmpirePetroleumCorp.com on the news and press releases page in the investor relations section. With me today are Mike Morissette, President and Chief Executive Officer, and Phil Mullisac, Chairman of the Board. Before we begin our conversation with Mike and Phil, I'd like to make the following remarks concerning forward-looking statements. Please note that various remarks that may be made on this recording about future expectations, plans, and prospects for the company constitute forward-looking statements for the purposes of safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may vary materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the company's filings with the SEC. The company assumes no obligation to update the information contained in this recording. Today's discussion may also include references to certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable measure under GAAP are contained in our earnings release that is posted on the website. So with that, I'll begin the conversation with a question for Mike. Mike, over the last few years, Empire has expanded its footprint of operations through strategic acquisitions. What are your plans for growing the company moving forward, especially as it relates to the next 12 to 24 months?

Thanks, Wes. We intend on growing our five core basins organically. We've done pilot programs in some of them, and we feel very good about the assets, the running room that we have to develop them. And so we... We just look for organic growth.

Great. Another one for you, Mike. Recently had a transition in management. Can you provide some background on the rationale behind the change?