Kolibri Global Energy Inc.

Good day and welcome to the Colibri Global Energy's first quarter 2026 financials conference call. All participants will be in a listen-only mode. Media may monitor this call in a listen-only mode. They are free to quote any member of management but are asked to not quote remarks from any other participant without that participant's permission. If anyone has any trouble and needs assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touch-tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I advise participants that this conference is being recorded today, May 14, 2026. This call will be available on the company's website at www.colibrienergy.com. Here is a disclaimer. This call may include forward-looking information regarding Colibri's strategic plans, anticipated production, capital expenditures, exit rates and cash flows, reserves and other estimates and forecasts. Forward-looking information is subject to risks and uncertainties. and actual results will vary from the forward-looking statements. This call may include future-oriented financial information and financial outlook information, which Colibri discloses in order to provide readers with a more complete perspective on Colibri's potential future operations, and such information may not be appropriate for other purposes. For a description of the assumptions on which such forward-looking information is based and the applicable risks and uncertainties, and Colibri's policy for updating such statements. We direct you to Colibri's most recent annual information form and management discussion and analysis for the period under discussion, as well as Colibri's most recent corporate presentation, all of which are available on Colibri's website. Listeners should not place undue reliance on forward-looking information. Colibri undertakes no obligation to update any forward-looking, future-oriented financial or financial outlook information, other than as required by applicable law. I would now like to turn the conference over to Mr. Wolf Reginer, the President and CEO of Colibri Global Energies, Inc. Please go ahead, sir.

Hi. Thank you for the introduction, and thank you, everyone, for joining us today. With me on today's call is Gary Johnson, our Chief Financial Officer. As I'm sure you're all aware, we released our first quarter 2026 results this morning, and we're very pleased with our quarterly results. Our first quarter resulted in the highest quarterly production, net revenue, and EBITDA in the history of the company. And this was achieved even though only March had the impact of the oil price increase. Our production in the first quarter of 4,685 barrels of oil equivalent per day, is up from the fourth quarter 2025 production of 4,493 barrels a day. And keep in mind that using our 2025 annual production, that calculates us to having a 35% compound annual production growth rate over the last three years. So the timing of this oil price increase is fantastic for us. We're looking to further increase our production this year as our drilling program for drilling the Clifton Mack Wells is already underway. And with that, I'll turn it over to Gary to discuss our financial results.

Thanks, Wolf, and thanks, everyone, for joining the call. I'm going to go over a few highlights of the first quarter results, and then we can take questions at the end of the call. All amounts are in U.S. dollars unless otherwise stated. As you can see from the earnings released today, we had an excellent quarter with the highest recorded quarterly revenue and adjusted EBITDA and a strong increase in production. Net revenue increased by 20% to 19.6 million compared to 16.4 million in the prior quarter due to the higher production. Average production was up 15% to 4,685 DOE per day compared to 4,077 DOE per day in the prior quarter. And the increase was due to the wells that were drilled during 2025. Adjusted EBITDA was 14.8 million compared to 12.8 million in the prior quarter. which was an increase of 60%, mainly due to higher revenues. Our net income was 4 million or 11 cents per basic share, compared to 5.8 million or 16 cents per basic share in the same period of 2025. And that decrease was due to a large non-cash mark-to-market unrealized loss on commodity contracts of 2.9 million. That was due to the significant increase in order prices in March of 2026. Operating expense was $8 per BOE for the quarter compared to $7.07 per BOE in the prior year first quarter, which was an increase of 13%. The increase was due to workover costs on a non-operated well, reassessed natural gas and NGL prior year gathering and processing fees, and higher water hauling costs compared to the prior year first quarter. Our net back from operations increased 2% to $38.41 per BOE, compared to $37.55 per BLE in the prior year quarter. Net fact, including commodity contracts for the first quarter, was $37.72 per BLE compared to $37.55 per BLE in the first quarter of 25. The increases were due to higher average prices. As you may have seen earlier this week, we announced that our credit facility was redetermined and the borrowing capacity was increased from $65 million to $75 million. And even though our borrowing capacity has increased, we have been paying down on our credit facility. Our net debt at the end of the first quarter was $45 million, which was down from $46 million at the end of the year. And then subsequent to the end of the quarter, we made a debt pay down of $4 million. And we plan to make an additional $4 million net pay down later in May. And with that, I'll hand it back to Wolf.