Strathcona Resources Ltd.

Good morning. My name is Anis and I'll be your conference moderator today. I would like to welcome everyone to the second quarter 2025 conference call of SRAPcona resource LTD. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question and answer session. For attendees on the conference calls would like to ask a question, press star than the number one on your telephone keypad. If you'd like to throw your question, please press star followed by two. I now introduce Angie Lau, Treasurer of SRAPcona to open the conference and introduce the speakers.

Welcome to the Q2 2025 conference call of SRAPcona resources LTD. Yesterday, SRAPcona released its second quarter results. We encourage our investors to visit SRAPcona's website and review the disclosure materials in detail. Today's call will be focused on taking questions from analysts. Please note that all commentary made by today's speakers are subject to the same advisories regarding forward looking information and non-GAAP measures as can be found in yesterday's press release and our other disclosure materials. In particular, any comments made regarding the offer to make shareholders, as well as any expectations about the pro forma results or resulting capital structure of SRAPcona are based on our current expectations regarding our business and combined business and are in part based on MEG's available public data. While we believe our current assumptions and expectations to be reasonable, actual results could differ materially from those discussed today and listeners should not place undue reliance on any such statements. Please refer to SRAPcona's offer to purchase and accompanying takeover bit of information on the SRAPcona circular dated May 30th, 2025, available on our website and under the company's profile on Cedar Plus for further information. On today's call, we have from our management team, Adam Watrous, Executive Chairman, Connor Watrous, Chief Financial Officer, Connie DeChancho, Chief Commercial Officer, Dale Dibbabiak, Chief Operating Officer, Kim Choo, President SRAPcona Cold Lake, Seamus Murphy, President SRAPcona Lloydminster Conventional, and Ryan Tracy, President SRAPcona Lloydminster Thermal. With that, in keeping with our practice, we will take all of our materials as read and we would now like to jump straight to questions.

Thank you, ladies and gentlemen, we now begin the question and answer session. Should you have a question, please press star followed by one or you touch your phone, below your brown that your hand has been raised. Should you wish to decline from the polling process, please press star followed by two. If you're using a speaker phone, please lift the hands up before pressing any keys. One moment, please, for your first question. Your first question comes from Patrick O'Rourke with HGB Capital Markets. Please go ahead.