Frontera Energy Corporation

Good morning. My name is Ina and I'll be your conference facilitator today. Welcome to Frontera Energy's fourth quarter in year-end 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 the 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 December 31, 2024 and the company's annual information form dated March 10, 2024, and other documents it files from time to time with securities regulatory authorities describe the risks and 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 De Alba, Chairman of the Board of Frontera Energy. Mr. De Alba?

Thank you, operator. Good morning, everyone, and welcome to Frontera's fourth quarter 2024 and year-end operating and financial results conference call. Joining me on today's call are Orlando Cabrales, Frontera's CEO, Rene Burgos-Diaz, Frontera's CFO, And 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, Ivana Arevalo, VP Operations, and Renata Campanero, VP Marketing Logistics and Business Sustainability. Thanks again for joining us. In 2024, Frontera continued to demonstrate robust performance, focused on the execution over his strategic objectives and priorities. The company met its guidance targets, including key upstream operating and financial objectives, and delivered on its commitment to return capital to shareholders. The value-centered approach resulted in closing the year with a strong balance sheet, including $223 million cash position. The company also lowered its consolidated debt and leased liabilities by over $30 million. During the year, both S&P and Fitch reaffirmed the company's credit ratings of B plus and B, respectively, with a stable outlook, highlighting Frontera's strong credit quality and financial position, underpinning the company's low leverage. For the full year, the infrastructure business segment delivered strong results, generating a 2024 adjusted infrastructure EBITDA of over $107 million, at the midpoint of the company's 2024 guidance target. The company also received over $60 million in dividends and capital distributions from ODL. Frontera continues to make significant progress in its Puerto Valle operations, reaching several key important milestones, which we expect shall provide shareholders with significant upside potential, including the construction of the connection line with the Refinería de Cartagena which is expected to be operational by the second quarter of 2025. Additionally, the company announced the new LPE joint venture with Industrias Gasco. Both these projects are strategic for Frontera, but also supportive regionally and for the Colombian economy as a whole. As mentioned, during the December operational update, the infrastructure business strategic review is in its final stages. The company is analyzing various options and expects to announce results soon. In the Guyana exploration business, Frontera and its joint venture partner remain firmly of the belief that its interest in and the license of the current time block remain in place and in good standing. The joint venture is assessing all legal options available to assert its rights. The joint venture is committed to promptly resolving this matter and continuing its multi-year efforts and investments to realize value for the people of Guyana and its shareholders from the quarantine block. Frontera delivered on its commitment to return capital to shareholders. Supported by Frontera's strong financial position, from 2024 through today, we have returned approximately $83 million, including $15.1 million in declared dividends, $7.8 through the repurchase of its common shares through the NCIB, and completing two successful substantial issuer bids for over $60 million. The SIV saw an over 90% combined participation rate, validating the company's capital distribution strategy. Since 2022, the company has returned over $180 million to its shareholders through normal course issuer bids, substantial issuer bids, and dividends. Frontera will continue to consider future investor initiatives in 2025, including potential additional dividends distributions, or bond buybacks, based on all prices, the world results of our business, cash flow generation, and the delivery of the 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 four-quarter and full-year results.

Orlando? Thank you, Gabriel.