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Parex Resources Inc.
11/4/2025
Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Perixx Resources third quarter operational and financial results conference 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'd like to ask a question during this time, simply press star, then the number one on your telephone keypad. To withdraw your question, press star one again. I'd now like to turn the conference over to Mike Crookton, Senior Vice President of Capital Markets and Corporate Planning. Please go ahead.
Good morning, everyone, and welcome to Parks Resources' third quarter 2025 conference call and webcast. My name is Mike Crookton, and on the call with me today are our President and Chief Executive Officer, Iman Molson, our Chief Financial Officer, Cam Granger, and our Chief Operating Officer, Eric Furland. Please note that at any time, telephone participants on the call can press star 1 to submit a question. As a reminder, this conference call includes forward-looking statements, 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 US dollars, unless otherwise stated. I'll now turn the call over to Ahmad. Please go ahead.
Thank you, Mike, and good morning, everyone. Throughout the quarter, we have made steady progress across our portfolio, successfully executing our ambitious activity plan and delivering strong results. With the majority of our planned activity now complete or underway, that momentum is translating into stronger production performance and positioning us to deliver a Q4 production average that exceeds the top end of our annual guidance. At our core assets, Capastero and Janus34, we continue to see strong performance through application of secondary recovery and EOR programs that are maximizing recovery rates from the field. At Janus32, where we completed a pack-in acquisition in March, we've quickly demonstrated our ability to unlock value and deliver superior performance as the field operator. While Eric will provide more details on the momentum underway, I will say that our distant execution has already translated into steady production gains, with current rates now exceeding three times what we inherited at the time of acquisition. Turning to exploration, where performance this year has been strong, we delivered five near-field successes at Yano 74. Underscoring that our strategy is generating tangible in-year production gains. And we are now looking ahead to our Vin1 exploration prospects with results anticipated by year-end. Our financial performance for the quarter was strong despite a softer price environment. Our top quarter netbacks reflect the strength of our operating model and durability of our business. Driven by favorable Colombian crude oil differentials, and continued internal cost optimization. With that, I'll now turn it over to Eric to provide an operational update.
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