Alvopetro Energy Ltd.

Good morning, and thank you for joining us for our Q1 2026 earnings presentation. I'm Corey Rutan, President and CEO. I'm joined by Alison Howard, our Chief Financial Officer, and Adrienne Adet, our Vice President, Asset Management.

Good morning, everyone. Just a few administrative points before we jump into our presentation. We will be recording today's call, and we will have a replay available on our website later on today. All attendees have been placed in listen-in only mode for the duration of the presentation. We will have a Q&A session at the end of our presentation, and you can start logging any questions that you have using the Zoom Q&A button that you should see on your screen. If you've dialed in by phone, you can also send any questions to socialmedia at albopetro.com. Lastly, we will be going through various non-GAAP measures and making forward-looking statements throughout this presentation, so we do encourage you to read through all of the disclosures and cautionary statements that we have both in our corporate presentation on our website as well as in our MD&A that is also on our website.

Great. Thank you, Alison. So, if you recall, at the beginning of 2025, we did upgrade our gas sales agreement, and then when we combined that with some of the strength that we demonstrated on our Mercatutu project, particularly with the 183D4 well, we were able to deliver some pretty strong results in 2025. Our production was up 41% year over year, and we exited the year with a record quarter of 2,867 barrels of oil equivalent per day in the fourth quarter. And we're pleased to say that we had an even higher record quarter in Q1 this year that we just announced, along with the financial results here, over 3,100 barrels of oil equivalent per day. We did upgrade our gas sales agreement again at the beginning of 2026, increasing our firm supply again by another 25%. So if you Compare Q1 on a quarter-over-quarter basis, we were up 9%. If you compare Q1 to our 2025 average, we're up about 25%, so a pretty strong start. And you can see we just recently announced our April production as well, which continued at a pretty consistent level to Q1. Lastly, I think, you know, if you consider this growth that we've been able to generate over this period of time, I think it's pretty impressive, especially when you consider it in the context of the fact that we're paying on about half of our cash flows in returns to stakeholders.