PrairieSky Royalty Ltd.

Ladies and gentlemen, thank you for standing by. Welcome to the Prairie Sky Royalty Ltd. announces their second quarter 2026 financial results. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone and you will then hear an automated message of us and your hand is raised. and to withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would like now to turn your conference over to Andrew Phillips, President and Chief Executive Officer. Please go ahead.

Thank you very much, operator, and good morning, and thank you for dialing into the Prairie Sky Q2 2026 conference call. On the call from Prairie Sky are Dan Bertram, Pam Kazeil, Mike Murphy, and myself, Andrew Phillips. Before we begin, there is certain forward-looking information and statements in our commentary today, so I would ask listeners and investors to review the forward-looking statements qualifier in our press release in MD&A, which can be found on our website. Oil production increased 7% from Q1 this year. Stronger activity levels across the basin drove the increase. Strong spot activity on our land throughout the quarter is encouraging for the balance of the year. With a $0.71 and over $70 US WTI crude, we are close to $100 per barrel for Canadian light oil. In 2019, pre-COVID, we had 234 million shares fully diluted outstanding with average annual royalty production of 8,633 barrels per day of oil and 46 million barrels of reserves. Today, we have 232.4 million shares outstanding with average oil production of 14,740 barrels per day and 64 million barrels of reserves. We will be net cash by this time next year. Numerous newly formed oil companies have been founded over the past year. This quarter, we entered into 57 leases with 46 distinct operators. We continue to pursue leasing agreements with qualified, well-capitalized companies. Prairie Sky expects another busy summer of both leasing and drilling activity, with 215 rigs active in the field today, up from 170 a year ago. Wet field conditions have hindered operations in eastern Alberta heavy oil region, delaying some completion and drilling activity. I will turn the call over to Mike to discuss activity on our lands.

Thanks, Andrew. Duvernay activity remained strong in Q2, with 51 spots year-to-date compared to 55 in all of 2025. The first West Shale Basin Duvernay wells from this year's programs were brought on production late in Q2, which should positively impact Q3 Royalty oil production. Expanded third-party capital programs in the Duvernay and continued completion activities over the summer should position Prairie Sky for meaningful light oil growth through the remainder of the year. Multilateral activity continues to expand on prairie skylands, with 137 spuds year-to-date relative to 100 over the same period last year. Beyond the Clearwater and Manville stack, we also saw multilateral spuds in the Charlie Lake, Ellerslie, Bakken, and Southeast Sask Mississippian in Q2. In the Clearwater, we now estimate 60% of our Royalty Oil volumes are under water flood support, with declines in the mid-teens contributing to our highly sustainable production base. Finally, thermal volumes from a new pad at Lindbergh began ramping up in Q2, which should support growth in our second half of Royalty Oil production. A new south pad is currently drilling at Lindbergh, setting the asset up for incremental growth in 2027 and beyond. I'll now turn it over to Pam to discuss the financials.