Frontera Energy Corporation

Good morning, my name is Joanna and I will be your conference facilitator today. Welcome to Frontera Energy's second quarter 2024 operating and financial results conference call. All lines are currently on mute to prevent any background noise. I would like to remind you that this conference call is being recorded today and is also available through audio webcast on the company's website. Following the speaker's remarks, there will be time for questions. Analysts and investors are reminded that any additional questions can be directed to Frontera following today's call at ir.fronterraenergy.ca. This call contains forward-looking information within the meaning of applicable Canadian securities laws relating to activities, events, or developments the company believes or expects will or may occur in the future. Forward-looking information reflects the current expectations, assumptions, and beliefs of the company based on information currently available to it. Although the company believes the assumptions are reasonable, forward-looking information is not a guarantee of future performance. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the company to differ materially from those discussed in the forward-looking information. The company's MD&A for the quarter ended June 30, 2024, and the company's annual information form dated March 7, 2024, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions, and other factors that could influence actual results. Any forward-looking information speaks only as of the date on which it is made, and the company disclaims any intent or obligation to update any forward-looking information except as required by law. I would now like to turn the call over to Mr. Gabriel D'Alba, Chairman of the Board of Fonterra Energy. Mr. D'Alba?

Mr. D'Alba, you may begin. Thank you. Thank you. Stand by. Thank you, operator.

Good morning, everyone, and welcome to Frontera's second quarter 2024 earnings call. Joining me on today's call are Orlando Cabrales, Frontera's CEO, Brenda Burgos, Frontera's CFO. Also joining us today and available to answer questions at the end of the call, we have Victor Vega, VP Field Development, Reservoir Management and Exploration. Alejandra Bonilla, General Counsel. Ivana Revolo, VP Operations. And Renata Campanaro, VP Marketing, Logistics, and Business Sustainability. Thank you for joining us. Frontera continues to execute on its strategic priorities in support of long-term growth and the sustainability of its business. During the quarter, Frontera and Ecopetrol enter into a two-year contract to treat and dispose water from the Kefa block at Frontera's SARA reverse osmosis water treatment facility. This agreement is set to increase crude oil production capacity at the Kefa block. By the end of 2024, Frontera aims to increase processing capacity at SARA to 250,000 barrels per day. Every 100,000 barrels of water treated at SARA is expected to translate in 1,000 barrels of production net to Frontera. Subsequent to the end of the quarter, Frontera broke ground on the construction of the bidirectional hydrocarbon flowline connection between Puerto Valle Liquid Terminal and Refineria de Cartagena . The company expects the connection will drive significant volumes and shall become operational by year-end 2024. Frontera also announced that it executed an agreement with Gasco, a leading Latin American energy provider, that will see the companies develop the lowest-cost liquefied petroleum gas, also known as LPG, import facilities for Colombia and Puerto Bahia. As part of the agreement, Puerto Bahia and Gasco will establish a joint venture to develop, construct, and operate a 20,400-ton LPG refugio-gerated storage facility at Puerto Bahia's fourth terminal in Cartagena. The project is expected to cost between $50 and $60 million, which will be shared between Puerto Bahia and Gasco. Puerto Bahia's contributions are expected to be largely in kind. The collaboration is a significant step forward in meeting Colombia's growing energy needs and demonstrates Puerto Vallarta and Gasco's commitment to investing in the country's energy infrastructure. These are concrete actions Frontera is taking to create value. Today, Frontera's board declared a quarterly dividend of 6.25 cents Canadian per share. Year to date, the company has declared 11.7 million in dividends. In addition to our quarterly dividend, the company announced its intention to commence a substantial issuer bid of $30 million, pursuant to which the company will offer to purchase for cancellation a portion of its common shares at a fixed price per share. The terms of the SAB, including pricing, shall be communicated in due course, and the company expects that the SAB will be completed in October 2024. Under the company's current NCIB, the company has purchased $6.6 million year-to-date. The company has also bought back $3.5 million of its 2028 unsecured notes. In total, the company is poised to return so far $51 million of capital to our stockholders. Frontera shall also continue to take actions to unlock value for its stakeholders and remains committed to these efforts for the remaining of 2024 and beyond, including potential additional dividends, share buybacks, distributions, or bond buybacks based on the company's results, cash flow generation, and the company's strategic goals, including our ongoing pursuit of strategic alternatives for interest in the quarantine block in Guyana and our growing Colombian infrastructure business. I'd like now to turn the call over to Orlando Cabrales, Frontera's CEO, and René Burgos, Frontera's CFO, who will share their views on our second quarter results. Orlando.