Gran Tierra Energy Inc.

Good morning, ladies and gentlemen, and welcome to Grand Tierra Energy's conference call for second quarter 2026 results. My name is Shannon, and I will be your coordinator for today. At this time, all participants are in a listening mode. Following the initial remarks, we will conduct a question and answer session for securities analysts and institutions. Instructions will be provided at the time for you to queue up for questions. I would like to remind everyone that this conference call is being webcast and recorded today, Wednesday, August 5th, 2026, at 11 o'clock a.m. Eastern Time. Today's discussion may include certain forward-looking information, oil and gas information, and non-GAAP financial measures. Please refer to the earnings and operational update press release we issued yesterday for important advisories and disclaimers with regard to this information and for reconciliations of any non-GAAP measures discussed on today's call. Finally, this earnings call is property of Grand Tierra Energy Inc. Any copying or rebroadcasting of this call is expressly forbidden without the written consent of Grand Tierra Energy. I will now turn the conference call over to Gary Guidry, President and Chief Executive Officer of Grand Tierra. Mr. Guidry, please go ahead.

Thank you, operator. Good morning and welcome to Grand Tierra's second quarter 2026 results conference call. My name is Gary Guidry, Grand Tierra's President and Chief Executive Officer. and with me today are Ryan Ellson, our Executive Vice President and Chief Financial Officer and Sebastien Morin, our Chief Operating Officer. On Tuesday, August 4th, 2026, we issued two press releases. The first included detailed information about our second quarter 2026 results and second release highlighted we entered into a share purchase agreement to sell all our Columbia and Ecuador businesses which are available on our website. Before we begin our discussion of quarterly results, I want to address the announcement we made yesterday regarding the definitive agreement to sell our oil businesses in Columbia and Ecuador. The definitive agreement governing this transaction contains restrictions on what we and Morrill and Prom may publicly disclose about it beyond what is included in our respective announcements and public filings. Because of those contractual restrictions, we are not in a position to answer questions about the transaction on today's call. We recognize this is an important topic for many of you, and we will provide additional information consistent with our disclosure obligations as it becomes appropriate to do so, including in the proxy statement for the special stockholder meeting to be held to consider approval of the transaction. For now, we would like to focus on today's discussion on our quarterly financial results and business performance, and we appreciate your understanding. Ryan and Sebastien will make a few brief comments, and then we will open the line for questions. I'll now turn the call over to Ryan to discuss our financial results.

Thanks, Gary, and good morning, everyone. Our second quarter performance reflects another active period for Grand Tierra. Stronger commodity prices and lower total operating costs supported improved margins and positive free cash flow, while the strategic actions completed during and after the quarter further refined our portfolio and enhanced our financial flexibility. An important milestone we achieved during the quarter was the completion of our $123 million capital carry commitment in Soriente. The post-carry period commenced on July 18th, and the economics and overall profitability of future activity on the block have improved, which will contribute to additional future cash generation and higher returns. In Tiscarama, we satisfied all outstanding conditions present to be effectiveness of our agreement with Equipatrol. This advances our opportunity to earn a 49% working interest in the Tiscarama block and further expands our operated position in Columbia's Middle Magdalena Valley Basin. Additionally, we completed the disposition of a 54% working interest and associated title rights in the lodge pool area for $9 million USD. This transaction further contributed to our liquidity and removed the associated asset retirement obligations of $13 million from our balance sheet. Together with the assignment at disposition completed in the first quarter of 2026, the lodge pool sale further optimized our Canadian portfolio around the opportunities where we see the highest long-term potential and returns, including the Dawson Clearwater Area and Mount Head. Combined with the completion of the Soriente Carry, these actions improved the quality of our portfolio. Turning now to our financial results for the second quarter of 2026, Grantiera generated a net income of $25 million compared to a net loss of $119 million in the prior quarter and a net loss of $13 million in the second quarter of 2025. The net income position was primarily the result of stronger commodity prices, improved margins, and lower total operating costs during the quarter. In Ecuador, our M-1 pricing structure benefited our second quarter results. The realized M-1 benchmark price of $101.89 per barrel increased revenue by approximately $4 million compared with the average rent price for the quarter of $96.68 per barrel. The company generated adjusted EBITDA of $85 million, up from $74 million in the prior quarter and $77 million in the second quarter of 2025. Funds flowed from operations were $60 million or $1.70 per share, up 41% from the prior quarter and up 12% from the second quarter of 2025. During the quarter, the company generated free cash flow of approximately $6 million, an increase when compared to the $2.7 million generated in the second quarter of 2025. Grantier's capital expenditures of $54 million were higher than the $45 million in the prior quarter and $51 million in the second quarter of 2025. During the quarter, the company completed the Soriente carry and the six-well development drilling program at the Cohembe Field, with the final two wells drilled and brought on production during the quarter. The company's 2026 capital program was intentionally weighted to the first half of the year, and we continue to expect capital expenditures to remain within our previously stated guidance. At quarter end, Grand Tierra had a cash balance of $127 million, total gross debt of $606 million, and net debt of $479 million. During the first six months of 2026, we repurchased $6 million face value of our 9.75% senior notes due 2031 at a 12% discount. Subsequent to the second quarter, we repurchased an additional $50 million face value of 2031 senior notes at a 10% discount, further advancing our debt reduction priorities. Alongside the $127 million on cash on hand, the company currently has $53 million in undrawn credit and lending facilities. Grantier generated oil sales of $187 million, an increase of 25% from the second quarter of 2025 and 9% from the prior quarter. The year-over-year increase was primarily driven by stronger Brent pricing partially offset by lower sales volume and higher quality and transportation discounts in Columbia associated with the alternative transportation routes with the Columbia-Ecuador border closed. Sequentially higher rent prices, lower Columbia differentials, and stronger premiums in Ecuador more than offset the impact of lower sales volumes from having only one lifting during the quarter and higher royalties associated with stronger commodity prices. Total operating expenses decreased by 22% to $52 million compared to the prior quarter. and decreased by 7% compared to the second quarter of 2025, primarily due to lower work over activity, reduced field personnel costs and inventory fluctuations. As we move through the second half of the year, our priorities remain with allocating capital with discipline, protecting liquidity, generating free cash flow and using our financial flexibility to reduce debt and invest in the highest return opportunities across the portfolio. The actions completed during the quarter leave Grand Tierra with a more focused portfolio and a stronger foundation to further contribute to long-term shareholder value. I'll now turn the call over to Sebastien to discuss some of the operational highlights.