Frontera Energy Corporation

Good morning, my name is Ludi and I'll be your conference facilitator today. Welcome to Frontera Energy's 3rd 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, 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 September 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 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 Frontera Energy. Mr. D'Alba, please go ahead.

Thank you, operator.

Good morning, everyone, and welcome to Frontera's third quarter 2024 operating and financial results conference call. Joining me on the call today are Rolando Cabrales, Frontera's CEO, and Rene Burgos, Frontera's CFO. Also 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. Ivan Arevalo, VP Operations. And Renata Campanaro, VP Marketing, Logistics and Business Sustainability. Thank you for joining us. Frontera remains focused on the execution of its strategic objectives and priorities. It is upstream, infrastructure, and Guyana business segment. The company's upstream business continues to perform according to plan, overcoming unforeseen social issues during the year. The company is gaining momentum, with crude production ramping up to average over 42,300 barrels per day, so far in the fourth quarter. And the company is targeting fourth quarter average daily production above 42,500 barrels per day. In its stand-alone and growing infrastructure business, the company continues to advance the strategic alternatives review in large areas this year. This process is actively ongoing with a virtual data room open and discussions with interested third parties underway. The company remains particularly excited about the long-term prospects of its Puerto Vallecas and Dry Caibo port facility and its strong pipeline of catalysts, including the Reficar connection, as well as the recently announced LPG input project with its JV partner, Gasco. With respect to its Gajana assets, the company and its joint venture partner remain committed to potential development of the Cronenheim block, as supported by the recent discoveries. While the company remains confident about the exciting potential of the current-time block, it is reviewing all available alternatives to safeguard its interest in the block and Guyana. Turning briefly to Frontera's financial health, I'm pleased to report that subsequent to the quarter, S&P reaffirmed the company's credit rating at B with a stable outlook, reflecting Frontera's strong credit quality and financial position, underpinned by the company's low leverage. The company ended this quarter with a total debt of $531.2 million and a healthy cash position, including restricted cash of $240.3 million. Frontera's solid financial position has supported the company's ability to deliver significant shareholder returns in 2024. Notably, after the quarter and with significant shareholder take-up, the company successfully executed on its 30 million SIDs, which saw over 90% of the company's shareholders participate. Together with the completion of the successful SID, the company has returned more than $53 million to shareholders in 2024, including $11.7 million in quarterly dividends, $3.9 million in declared quarterly dividends, and $7.8 million to the repurchase of its common shares through its NCID for an estimated aggregate yield of 10%. In addition to our quarterly dividend, the company announced yesterday its intentions to commence a new substantial issuer bid of up to $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 new SIV, including pricing, shall be communicated in due course, and the company expects that the new SIV will be completed in January 2025. Frontera remains committed to unlocking value for its stakeholders, including potential additional dividends, share buybacks, distributions, or bond buybacks, which will be based on the company's results, cash flow generation, and the company's strategic goals. I'd now like to turn the call over to Orlando Cabrales, Frontera's CEO, and Rene Burgos, Frontera's CFO, who will share their views on our third quarter results.