Kolibri Global Energy Inc.

Good day and welcome to the Colibri Global Energy's second quarter 2026 financials conference call. All participants will be in a listen-only mode. Media may monitor this call in a listen-only mode. There are free to quote any member of the management but are asked to not quote remarks from any other participant without the 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 1 on your touchtone phone. And to withdraw your question, please press star then 2. Please note this event is being recorded. I advise participants that this conference call is being recorded today, August 13, 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 statements, forward-looking information regarding Colibri's strategic plans, anticipated production, capital expenditures, exit rates, cash flows, reserves, and other estimates and forecasts. Forward-looking information is subject to risk 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 forelooking information is based and the applicable risk and uncertainties and Colibri's policy for updating such statements, we direct you to Colibri's most recent annual information forum and management discussion and analysts 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 the required by applicable law. I would now like to turn the call over to Mr. Wolf Regener. Regener, the president and CEO of Colibri Energy Inc. Please go ahead, sir.

Thank you. And thank you, everyone, for joining us today. With me on today's call is also Gary Johnson, our chief financial officer. So as hopefully everyone has seen, we released our second quarter of 2026 results this morning. And if you looked at them, I hope you share our excitement about the results. To say we are very pleased is an understatement. Our second quarter resulted in the company having its highest quarterly revenue, reduction, and adjusted EBITDA in the history of the company. And this is in spite of having three of our wells shut in for one-third of the quarter. We also finished drilling the three Clifton Mack wells, and are looking forward to beginning the completion operations on those shortly. I'm also very excited that we're starting to drill the Lobina 8-5-1HF well, which is our first test of the Falls Caney Formation. I'm looking forward to testing this bench in our field. I'm excited about this because of all the data we have. We have a whole core that shows that the volcano is highly oil saturated, and it has excellent characteristics on logs from numerous wells in the field. I'm looking forward to exciting times ahead from our company. With that, I'll now turn over the call to Gary to discuss our financial results.

Go ahead, Gary. Thanks, Wolf, and thanks, everyone, for joining the call. I'm just going to go over a few highlights of the second quarter and the year-to-date results, then we can take questions at the end of the call. All amounts are in U.S. dollars unless otherwise stated. I'll start by going over the second quarter. As you may have seen in our press release, our second quarter revenue was $22.5 million, which was our highest quarterly revenue in the company's history. Revenue increased by 109% from the prior year's second quarter due to a 46% production increase and a 41% increase in average prices. Average production was up 46% to 4,690 BLE per day compared to 3,220 BLE per day in the prior year quarter. That increase was due to the production from the wells that were drilled and completed during the second half of 25. Net income was 8.5 million and basic EPS was 24 cents per share. compared to $2.9 million and basic EPS of $0.08 per share in the prior second quarter, which was an increase of almost 200%. The increase was due to higher revenue and an unrealized gain on commodity contracts, partially offset by higher operating expense and depletion expense due to the higher production. Adjusted EBITDA was $16.4 million compared to $7.7 million in the prior quarter, which was an increase of 114% due to higher revenues partially offset by higher OPEX and a realized loss on commodity contracts. Our net back from operations increased to $43.92 per BLE compared to $29.66 per BLE in the prior quarter which was an increase of 48%. This was due to higher average prices for the quarter which were partially offset by higher operating expenses. Production and operating expense averaged $8.90 per BOE for the quarter compared to $7.15 per BOE in the prior quarter, which was an increase of 24%. This increase was due to workover costs for a non-operated well, which added 59 cents per BOE, and also temporarily higher water hauling costs compared to 25. So moving on to the year-to-date June results, net revenue increased by 55% to $42.1 million compared to $27.2 million due to a 29% increase in production and a 19% increase in average prices. Average production for year-to-date June was up 29% to 4,688 BOE per day compared to 3,646 in the prior year period. And this increase was again due to production from the wells that were drilled in the last half of 25. Debt income was $12.5 million and basic EPS was $0.35 per share compared to $8.6 million and basic EPS at $0.24 per share in the prior year period. The increase was due to higher revenue, partially offset by higher operating expense and depreciation expense due to the higher production, higher interest expense, and a realized loss on auto commodity contracts in 26. adjusted EBITDA was $31.3 million compared to $20.5 million in the prior year period, an increase of 52% due to higher revenue, partially offset by higher operating expenses, and a realized loss on commodity contracts. Net vacuum operations increased by 21% to $41.18 per BOE compared to $34.05 per BOE in the prior year period. This was due to higher average prices, partially offset by higher operating expenses. I also wanted to add that our credit facility was redetermined in the second quarter, and our borrowing base was increased by 15% from $65 million to $75 million. A continued increase in our borrowing base gives us more flexibility in managing our working capital going forward, and it also demonstrates the growing value of our property. As you can see, last year's drilling program led to significant increases in revenue and cash flow across both the second quarter and the first half of the year. We anticipate the four new wells in our 2026 drilling program will add on to this growth, primarily in the fourth quarter when the wells are expected to be contributing a full quarter of production. And with that, I'll hand it back to Wolf.