Africa Oil Corp.

My name is Shell and I will be your conference operator today. At this time, I would like to welcome everyone to Merrin's first quarter 2026 results presentation. After the speaker's remarks, there will be a question and answer session. Please note that at any time, participants on the webcast can submit the questions using the questions button on the webcast interface. This event is being recorded and the recording will be available for playback on the company's website. I will now pass the meeting to Mr. Shahin Amini. Please go ahead, Mr. Amini.

Hello, everyone. Thank you for joining us today for Merrin's first quarter 2026 results presentation. My name is Shahin Amini and I'm head of investor relations and communications at Merrin. I am joined today by Oliver Quinn, our President and Chief Executive Officer, and Aldo Parasini, our Chief Financial Officer. We will begin with prepared remarks and then open up for questions. Before we get started, I remind everyone that remarks made during this session are subject to forward-looking statements which involve significant risk factors and assumptions that could cause actual results to differ materially. More detail on these risks can be found in our regulatory filings on CEDAW Plus and on our website. The information discussed is made as of today's date and time, and Meron assumes no obligation to update or revise this information to reflect new events or circumstances. The company's complete financial statements and related MD&A are available on the company's website and on CEDAW Plus website. With that, I'll hand you over to Oliver. Oliver, please go ahead.

Thanks, Shaheen, and welcome again, everyone, and thank you for joining us today for our Q1 call. Let me start on slide four, which really summarizes a very strong start to the year, underpinned by a high level of operational performance in our production assets, complemented with an improvement in our financial flexibility and the continuation of our shareholder returns programs. In March, we refinanced our reserves-based lending facility, significantly enhancing our financial flexibility and, crucially, our ability to fund the deep hopper of organic growth opportunities across the business and at a very competitive cost of capital. Quarter-end liquidity post-refinancing has risen to $366 million. On the shareholder returns program, we've now declared two quarterly dividends year-to-date to a total of just over $50 million. And again, in our operations, our Nigerian assets performed above plan through the quarter, and in particular supported by the post-turnaround recovery following planned Q4 2025 maintenance on the Agbami field. On the commercial front, we've also successfully executed an amendment to our gas sales agreement for Regina and ACPO, and that has secured higher gas prices, and crucially with an index that includes some exposure to LNG pricing. I'll now move to slide five and our production performance for the quarter. In Q1, we delivered working interest production of 28.4 thousand barrels. Thank you for your time and I will now pass back to the operator for any questions.