Obsidian Energy Ltd.

Thank you for standing by. This is the conference operator. Welcome to the Obsidian Energy's first quarter 2025 results and annual general and special meeting webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. Should you need assistance during the conference call, you may signal and operate by pressing start and zero. I would now like to turn the conference over to Mike Hawkins, Vice President Legal. Please go ahead.

Yeah, and thank you for joining us on our call today. First, I'd like to point out that we will be referring to forward-looking information in connection with Obsidian Energy and the subject matter of today's call. By its nature, this information contains forecasts, assumptions, and expectations about future outcomes, so we remind you that it's subject to the risks and uncertainties affecting every business, including ours. Please refer to the disclosure at the end of the presentation along with our public disclosure filings available on both CDAR Plus and EDGAR systems for a full discussion of significant factors and risks that could affect obsidian energy or that could affect future outcomes for the company. Thank you for your time, and now I'd like to turn it over to President and CEO Stephen Lucas.

Thank you, Mark. Good afternoon, everyone, and thank you for joining today's call. I would like to turn your attention to page three where I'll quickly go through a corporate overview. estimated production midpoint is approximately 29,200 BOEs a day, and that is pro forma for the sale of our permanent assets, which we closed during the first week of April. Our production mix is approximately 72% oil and liquids. We currently have approximately 71 million shares outstanding as of April 30th, which translates to a market capitalization of approximately $385 million. We have forecasted net debt of approximately $255 million at the end of the second quarter, which translates to net debt to FFL of approximately 1.1 times. The map on the right basically dictates our production by geographic area, and you'll see that it's basically itemized across Peace River, our LIRO business, which consists of Williston Green, PC-11, and our Viking position. Turn your attention to page 4. outlines our strategy. Our strategy is to deliver superior shareholder returns, and it's really driven by a couple of key pillars. One, the ultimate goal is to drive per share growth via a combination of production growth, share buybacks, and the reduction of debt. The strategy has been to utilize the free cash flow generation from our lateral assets and reinvest that into growing our Peace River asset. We always look to further grow the intrinsic value of the business via targeted bolt-on transactions, farm-ins, or potential activity at land sales. And we look to achieve all that via maintaining a prudent leverage position as well as having ample liquidity. Turning your attention to page 5. we outline our strategic advantages. Firstly, we have a high-quality asset base with an established light oil, with a number of light oil assets that provide stable production, free cash flow generation, and also have a significant potential for future growth. We have not spent a lot of time talking about the growth potential of our light oil assets, but we certainly have the ability to do so in a market environment that is conducive to doing that. Additionally, as we've outlined over the last year and a half, that piece of area offers substantial future production growth as well as potential for EOR, which we have commenced an initial water flood project in our Dawson field. We have additional upside-view exploration given the significant... and substantial size of our undeveloped land position in Peace River. We've got a strong balance sheet, and we're in a stable financial position. We have the ability to self-fund our growth while providing a return of capital, which we've chosen to execute via share repurchases. We have a team that is very technically adept, provides proven expertise and knowledge of our subsurface assets, and is also very good on the operational front. Lastly, we're committed to the highest health and safety standards. We would consider corporate governance to be a core competency, and we're very active participants within the communities where we operate in. With that, I'll turn it over to Gary Sykes to walk you through the subsequent slides.