11/8/2023

speaker
Tamika
Conference Operator

Thank you for standing by. My name is Tamika, and I will be your conference operator today. At this time, I would like to welcome everyone to the Part X Q3 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during that time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press star one. As a reminder, today's call is being recorded. I will now hand the call over to Mike Crompton. Please go ahead.

speaker
Mike Crompton
Senior Vice President of Capital Markets and Corporate Planning

Good morning and welcome to PARX's third quarter 2023 conference call and webcast. My name is Mike Crompton, Senior Vice President of Capital Markets and Corporate Planning at PARX. And on the call with me today are PARX's President and Chief Executive Officer, Ahmad Molson, our new Chief Financial Officer, Sanjay Bishnoan, and Eric Verlin, Chief Operating Officer. Please note that at any time, telephone participants on the phone can press star 1 to submit a question. As a reminder, this conference call includes forward-looking information as well as non-GAAP and other financial measures with the associated risks outlined in our news release and MD&A, which can be found on our website or at cdarplus.ca. Note that all amounts discussed today are in U.S. dollars unless otherwise stated. I'll now turn the call over to Matt. Please go ahead.

speaker
Ahmad Molson
President & Chief Executive Officer

Thank you, Mike, and good morning, everyone. I would like to start the call by introducing Sanjay Bishnoi, our new CFO. With a rich and diverse international background in energy strategy and corporate finance, he is poised to play a pivotal role on the team going forward. Before I turn it over to Eric to discuss our operational results and to Sanjay to provide an overview of our quarterly financials, I'd like to share some opening remarks regarding the progress we've made in our Northern Yanis operations in Aralka, which is a core area for our long-term strategy. I will conclude the call with our outlook for the remainder of the year, which I'm optimistic about given the recent production gains that are positioning us to deliver strong results in Q4 and 2024. Firstly, I'd like to recognize our team, who recently delivered our inaugural well at Arauca, which is the deepest onshore well drilled in Colombia's history. This historical well also marks a significant milestone, as it's the first to be drilled on the block since the 1980s, when operators left due to social instability. The successful delivery of Arauca 15, which is expected to commence production before the end of the year, showcases our team's ability to operate in challenging areas and is a differentiator as an operator who is aggressively pursuing Colombia's world-class reservoirs. I'm also pleased to announce that we are making meaningful progress at Arauca 8, which is one of our high-impact Big E exploration wells. I like this one. The well is currently a pace setter for PARECs achieved through the application of modern drilling technologies. And as we progress the learning curve in that area, we expect to, and as we progress the learning curve in that area, we expect to see this well near the end of the year and look forward to sharing initial results in early 2024. With that, I'll invite Eric to cover our operational results. Please go ahead, Eric.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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