Canacol Energy Ltd.

Good day and welcome to the Canticle Energy year-end 2024 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. We will only be taking questions from the webcast side today. 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 Canacol's fourth quarter and fiscal year 2024 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 Bednard, Chief Financial Officer. Before we begin, it is important to mention that the comments on this call by Canacol Senior Management can include projections of the corporation's future performance. These projections may not constitute any commitment as 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 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 for the corporation's fiscal year 2024 results. Mr. Jason Bednar, our CFO, will then discuss financial highlights for the fourth quarter of 2024. Mr. Gamba will close with a discussion of the corporation's outlook for the remainder of 2025. At the end, we will have a Q&A session. We will now turn over the call to Mr. Charles Gamba, President and CEO of Canaco Land.

Thanks, Carolina, and welcome everyone to CannaCall's fourth quarter and fiscal year-end 2024 conference call. We're pleased to report that this past year was a record-breaking one for CannaCall Energy, with EBITDAX reaching a new high of $296 million, 25% higher than the EBITDAX recorded in 2023. Our realized natural gas prices for the year were $6.99 per 1,000 standard cubic feet, which generated net banks of between $5.41 per 1,000 standard cubic feet, 32% higher compared to last year, all the while maintaining a strong operational margin of 77%. In 2024, we averaged 165 million standard cubic feet per day equivalent of gas and oil sales, which included an average of 157 million standard cubic feet per day of natural gas. Through our disciplined approach to capital management, we will continue investing in key projects focusing on increasing our EBITDA generation and reserves base, as well as reducing our debt. During 2024, we invested $122 million in capital, 43% lower compared to the previous year and lower than our 2024 guidance of $138 million. This reduction is attributed to drilling and cost efficiency efforts during the course of the year. These capital efficiencies, combined with our strong financial performance, enable us to close the year with a cash position of $79 million. Strong commodity pricing, combined with our focus on cost reduction and production optimization, have been essential to maximize our response to market dynamics and achieve these strong results. From a drilling perspective, we drilled a total of five exploration wells and five development wells, with four out of the five exploration wells and all of the development wells being successful. We're also releasing our oil and gas reserves and deemed volumes for the fiscal year ending December 31st, 2024. Through our exploration and development drilling efforts, we achieved a 2P reserve replacement ratio of 85% with 53 billion cubic feet in new discoveries. This brings our total 2P reserves to 599 billion cubic feet of gas equivalent. The net present value of the future net revenues from our 2P reserves, discounted at 10%, is now estimated at U.S. $2.6 billion before tax and U.S. $2 billion after tax. These figures represent an increase of 21% and 13% respectively compared to 2023 year-end. The before tax value translates to Canadian dollars $109 per share of reserve value and $79 Canadian dollars per share of 2P net asset value, highlighting the strong intrinsic value of our reserve portfolio. Furthermore, with a reserve index of 10.2 years, our 2P reserves will sustain long-term production, supporting our ongoing development and future exploration projects. Finally, we're pleased to share the results of the corporate sustainability assessment conducted by S&P Global. In this rigorous evaluation, we achieved a total score of 75 points, ranking us as the fourth best company out of 165 participants in the global oil and gas business, upstream and integrated sector in the entire world. We achieved an eighth place in the environmental dimension, improving three positions from last year. Fourth place in social dimension, improving eight positions from last year. And for the second consecutive year, we ranked first in governance. I'll now turn the presentation over to Jason Bednar, our CFO, who will discuss 2024 fourth quarter results.