Canacol Energy Ltd.

Hello, and welcome to the Canada Call Energy Third Quarter 2023 Earnings Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please send to 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 touchtone phone. To withdraw your question, please press star, then two. Please note, today's event is being recorded. We'll now turn the conference over to Carolina Orozco, Vice President of Investor Relations. Please go ahead.

Good morning and welcome to CannaCol's third 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 Bettner, Chief Financial Officer. Before we begin, it's important to mention that the comments on this call by CannaCol Senior Management can include projections of the corporation's future performance. These projections neither constitute any commitment to future results nor take into account risks or uncertainties that could materialize. As a result, Canacol assumes no responsibility in the event that future results are different from the projection share 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 third 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 and into 2024. At the end, we will have a Q&A session. I will now turn over the call to Mr. Charles Gamba, President and CEO of Canacol Energy.

Thanks, Carolina, and welcome everyone to Canacol's third quarter 2023 conference call. In the third quarter, we realized natural gas sales of 178 million standard cubic feet per day, which was slightly below the midpoint of our annual guidance of 160 to 206 million standard cubic feet per day. After short-term production capacity restrictions that began the second week of August of 2023, our sales have begun recovering from 161 million standard cubic feet per day in September to 170 million standard cubic feet per day in October. Despite slightly lower production and sales volumes compared to prior quarters, we reported strong netbacks of $4.14 per MCF, maintained robust operating margins of 77%, reported record EBITDA of $62 million, and record funds flow from operations of $49 million. We've executed a number of successful remedial measures and are finalizing others to bring production back to normal levels by the end of November. We don't expect this situation to have a material impact on overall operations and results for the year. We also don't currently anticipate material reserve revisions in relation to the production capacity constraints we're working to resolve. Recall that our reserves in our core producing area are typically held in fields with multiple stacked reservoirs, where we are typically only producing from one reservoir at a time in any given well. One consequence of that is we have a lot of developed but non-producing reserves, which we will typically bring into production to meet demand in a staged manner. In recent months, we've increasingly focused on development drilling to ensure that we have sufficient productive capacity to meet demand and potentially take advantage of strong pricing in the spot market that we've already seen and anticipate to continue through the first quarter of 2024 related to the El Nino phenomenon. During the quarter, we also announced the cancellation of the Holto Medellin project and the EPM contract and our growth strategy in Colombia and Bolivia. I'll now turn the presentation over to Jason Bednar, CFO, who will discuss the third quarter financials in more detail.