Frontera Energy Corporation

Good morning, my name is Sergio and I'll be your conference facilitator today. Welcome to Frontera Energy's first quarter 2025 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 an audio webcast on the company's website. Following the speaker's remarks, there will be a 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, plus 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 March 31st. 2025 and the company's annual information form dated March 10, 2025 and other documents it files from time to time with securities regulatory authorities describe the risk, 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 will now turn the call over to Mr. Gabriel de Alba, Chairman of the Board of Frontera Energy. Please go ahead.

Thank you, Operator. Good morning, everyone, and welcome to Frontera's first quarter 2025 Operating and Financial Results Conference Call. Joining me on today's call are Orlando Cabrales, Frontera's CEO, Bernardo Burgos-Diaz, 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. Frontier remains focused on the delivery of its strategic objectives and generating value for shareholders. In the first quarter, the company generated 83.5 million in operating EBITDA, recorded 27.5 million in net income, 13.6 million in income from operations, produced 28.6 million of adjusted infrastructure EBITDA, and maintained a strong balance sheet, finishing the quarter with a total cash balance of 199.8 million. is advancing on the strategic path for maximizing shareholder value, including on the infrastructure assets. The next step is to the recapitalization of its investments in the ODL pipeline through a new 220 million non-recourse secured loan and the development of key growth projects at Puerto Bahia. The recapitalization will deliver approximately $115 million in proceeds to Frontera today, after the refinancing of existing indebtedness, while maintaining future upside potential from this key transportation asset in Colombia. Importantly, the financing excludes Puerto Bahia from the security package, providing Puerto Bahia greater flexibility to secure independent financing for new strategic growth projects. We would like to thank Goldman Sachs for their advice as the board reviewed various alternatives. Frontera remains open to consider all options to surface the value of its assets and enhance shareholder value, including potential future strategic transactions involving its infrastructure business, which include a potential LNG import facility in Puerto Bahia. Regarding the ODL recapitalization, Frontera announced that it intends to commence a substantial issue bid to purchase up to $65 million of the company's outstanding shares. Further, the company has also launched this morning a $65 million capped tender and consent solicitation for its 2028 senior and secure notes. These efforts are consistent with the company's strategy of returning capital to its stakeholders. The company is also declaring its quarterly dividend of 0.0625 cents per share, or 3.5 million in aggregate, and plans to commence its NCIB program once the announced substantial issue bid is completed. Assuming full uptake of this SIB and cap tender, the company will have returned 190 million to its stakeholders since 2024. to normal course issuer bids, substantial issuer bids, declared dividends, and bond buybacks. Looking ahead, Frontera will continue to consider similar investor-focused initiatives in 2025 and beyond, including potential additional dividends, distributions, share, or bond buybacks, based on the overall results of the business, all prices, and the company's cash flow generation. Additionally, The company will consider all options to enhance the value of its common shares in the short term, and in so doing may consider other strategic initiatives or transactions. 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 first quarter results.

Orlando? Thank you, Gabriel.