Canacol Energy Ltd.

Good morning and welcome to the CannaCall Energy first quarter 2023 financial results conference call. All participants will be in listen-only mode. Should you need 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 telephone keypad. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Carolina Orozco, Vice President of Investor Relations. Please go ahead.

Good morning and welcome to CannaCalls first quarter 2023 financial results conference call. This is Carolina Orozco, Vice President of Investor Relations. I am with Mr. Charles Gamba, President and Chief Executive Officer, and Mr. Jason Bednar, Chief Financial Officer. Before we begin, it is important to mention that the comments on this call by Canacol's senior management can include projections of the corporation's future performance. These projections neither constitute any commitment as to future results nor take into account risk or uncertainty that could materialize. As a result, Canacol assumes no responsibility in the event that future results are different from the projections shared on this conference call. Please note that all finance figures on this call are denominated in U.S. dollars. We will begin the presentation with our president and CEO, Mr. Charles Gamba, who will summarize highlights from our first quarter results. Mr. Jason Bednar, our CFO, will then discuss financial highlights. Mr. Gamba will close with a discussion of the corporation's outlook for the remainder of 2023. At the end, we will have a Q&A session. I will now turn the call over to Mr. Charles Gamba, president and CEO of Canacol Energy.

Thank you, Carolina, and welcome everyone to Canacol Energy's first quarter 2023 conference call. In the first quarter of 2023, we realized natural gas sales of 184 million standard cubic feet per day, which is just above the midpoint of our annual guidance of 160 to 206 million standard cubic feet per day. Our relatively stable production and operating conditions allowed us to report a quarter with the highest sales prices and netbacks prior to COVID. An operating margin of 78%, record EB DAX of $61 million, and a relatively high return on capital employed for the quarter on an annualized basis. With respect to our drilling activity, we were largely focused on production testing of the Saxophone 1 and DIVI-DIVI 1 gas discoveries. With Saxophone 1 testing at a combined rate of 15 million standard cubic feet per day and DIVI-DIVI testing at a rate of 5 million standard cubic feet per day. Saxophone is currently being tied into the whole facility and a commercialization plan is currently being worked up for the DIVI-DIVI discovery. Subsequent to the first quarter, we announced the discovery at LULO 1. which is located on a 100% operated VIM21 exploration and production contract. LULA 1 encountered 207 feet of net gas pay within the primary Cienaga de Oro sandstone reservoir. And once we finalized production testing, which commenced last night, in various zones, the well will be tied into permanent production directly to the whole gas treatment facility located only 50 meters from the well. Lula One is part of our 2003 exploration program and has opened an area of deeper potential in and around our main producing area that we're planning to pursue aggressively in the short term. I'll now turn the presentation over to Jason Bednar, our CFO, who will discuss our first quarter financials in more detail.