Good morning. My name is Joelle. I'll be your conference facilitator today. Welcome to Frontera Energy first quarter 2023 operating financial results conference call. All lines are currently on mute to prevent any background noise. I would like to remind you that this conference call is being recorded today and is also available through our audio webcast on the company's website. Following the speaker's remarks, there will be time for questions. Analysts and investors are reminded that any additional questions can be directed to the company at ir@F-R-O-N-T-E-R-A-E-N-E-R-G-Y.ca. This call contains forward-looking information within the meaning of applicable Canadian securities laws relating to activities, events, or developments the company believes or expects will or may occur in the future. Forward-looking information reflects the current expectations, assumptions, and beliefs of the company based on information currently available to it. Although the company believes the assumptions are reasonable, forward-looking information is not a guarantee of future performance. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the company to differ materially from those discussed in the forward-looking information. The company's MD&A for the quarter ended March 31st, 2023, and the company's annual information form dated March 1st, 2023. Another document it files from time to time with securities regulatory authorities describe the risks and uncertainties, material assumptions, and other factors that could influence actual results. Any forward-looking information speaks only as of the date on which it is made, and the company disclaims any intent or obligation to update any forward-looking information, except as required by law. I would now like to turn the call over to Mr. Gabriel de Alba, chairman of the board of Frontera Energy. Mr. De Alba. Thank you, operator. Good morning and welcome to Frontera's first-quarter 2023 earnings call. Joining me on today's call are Orlando Cabrales, Frontera's CEO, and René Burgos, Frontera's CFO. Also available to answer questions at the end of the call, we have Victor Vega, VP, Field Development, Reservoir Management, and Exploration. Alejandra Bonilla, General Counsel. Iván Arévalo, VP, Operations. Renata Campagnaro, VP, Marketing, Logistics, and Business Sustainability. Thank you for joining us. The company delivered average daily production of 41,586 barrels per day, generated $91.9 million of operating EBITDA, and invested $131.5 million in capital expenditures, in line with its 2023 guidance. Consistent with the strategic focus of unlocking standalone value from our three businesses, upstream in Colombia and Ecuador, midstream with our port and pipelines, and Guyana, the company successfully refinanced Puerto Bahía's existing legacy project finance debt via a new $120 million loan facility with a group of lenders led by Macquarie Capital. With this refinancing complete, Frontera's standalone midstream business is fully capitalized and can operate and grow independently. The refinancing extended the tenor of the borrowings to December 2027 and provide for up to $30 million in additional funding to pursue strategic investment opportunities with a midstream business. Subsequent to the quarter end, the company designated Frontera Energy Guyana Holding Ltd. and Frontera Energy Guyana Corp. as unrestricted subsidiaries and released Frontera Energy Guyana Corp. as a note guarantor for its senior bonds due 2028. The designation is a positive forward step as the company nears the completion of our two well commitment in Guyana and supports ongoing capital discipline. Speaking of Guyana, I'm excited to confirm that Frontera and its joint venture partner, CGX, have encountered oil-bearing intervals at the Wei-1 well in the Western Channel Fan Complex, all of the northern portion of the Corentyne block formations of Maastrichtian and Campanian ages. The current depth of the Wei-1 well is 19,142 feet, and drilling is progressing towards the planned TD of 20,500 feet. Orlando will provide more details on Wei-1 in a few minutes. We remain committed to successfully and safely completing this potential transformational opportunity. Finally, as you may have noticed, beginning with last quarter's disclosure documents, the company is committed to providing greater clarity and insight into its three core businesses through its quarterly results and press releases, financial statements, Management Discussion and Analysis, including this conference call. You'll hear more about this in a moment. As mentioned, the company remains focused on unlocking value from its three core businesses, upstream, midstream, and Guyana, to achieve its strategic priorities and unlock shareholder value. I'll now turn the call over to Orlando Cabrales, Frontera's CEO, and our CFO, René Burgos, who will share their views on Frontera's first quarter results and the performance of our three core businesses. Orlando. Thank you, Gabriel. Good morning, everyone. Thank you for Thank you for taking the time to join us. I'm pleased with Frontera's first quarter operational and financial results. Despite community blockades in early February, which temporarily shutting production at our Quifa and CPE-6 operations, the company's first quarter production was largely in line with the prior quarter. Year to date, we are delivering average daily production of approximately 41,800 BOE per day. So far, in the second quarter of the year, we have averaged approximately 42,500 BOE per day. Our first quarter average production and the strong production performance so far in the second quarter is a testament to the versatility and robustness of our assets and our operations teams' hard work and dedication to quickly return production to pre-blockade levels. Taking a closer look at our three core businesses. In our Colombia and Ecuador upstream segment, we drilled 17 development wells at Quifa, Cajua, CPE-6, and Cubiro blocks. We currently have five drilling rigs and two workover rigs active at our Quifa, CPE-6, Cubiro, and Corcel, Guatiquia blocks in Colombia. We drilled seven production wells at Quifa and 5five production wells at Cajua during the quarter. As we have highlighted previously, increasing water handling capacity at Quifa is key to Frontera's efforts to grow production. Our current water handling capacity at Quifa is approximately 1.5 million barrels of water per day. Earlier this year, we began commissioning SAARA, our reverse osmosis water treatment facility to process water from our Quifa block operations. As of April of this year, the SAARA plant has already processed 1.5 million barrels of water as part of its commissioning program, providing irrigation source water to the company's nearby Proagrollanos palm oil plantation. I will note that every additional 100,000 barrels of water handled increases our net production at Quifa by 1,200 barrels per day. At Cajua, the company drilled five horizontal wells in the first quarter, which increased gross average production to 3,873 barrels of oil per day of heavy crude in March. Current gross average production is 4,860 barrels of oil per day. We are also excited about the early success of our AICD program, a technology that has reduced water production per well by more than 50% in the three wells we tested in the three wells we tested on technology alone. Turning now to our midstream Colombian business. The company's midstream Colombian segment income was $16.9 million in the first quarter of the year. Puerto Vallejo liquids terminal revenues increased by 10% compared with the same period of 2022, with third-party volumes comprising 82% of total liquids terminal revenues. General cargo terminal revenues increased by 4% compared with the same period in 2022. We are maintaining a strong share of roll on, roll off business and seeking potential growth in bulk and container opportunities. Proportional EBITDA for the midstream segment in Colombia for the first quarter of 2023 was $28.2 million. Our Guyana exploration business. On January 23, 2023, Frontera and CGX, joint venture partners in the Petroleum Prospecting Licence for the Corentyne block offshore Guyana, announced the spud of the Wei-1 well. To date, the well has been successfully drilled to a depth of 19,142 feet, and we anticipate reaching a total depth of 20,500 feet. The Wei-1 well is located approximately 14 kilometers northwest of the joint venture's previous Kawa-1 light oil and condensate discovery. The well has encountered oil-bearing intervals in the Western Channel Fan Complex of the northern portion of the Corentyne block in formations of Maastrichtian and Campanian ages. A comprehensive logging campaign in the Maastrichtian and Campanian intervals indicate the presence of oil, confirmed by downhole analysis. Logging while drilling and cuttings indicate the presence of hydrocarbons in the upper portion of the Santonian. Fluid samples have not yet been fully obtained. Sidewall core samples will be attempted in the Santonian interval when drilling resumes. Preliminary indications from the secondary targets in demonstration and Campanian are positive. No assurance can be given that these activities will ultimately produce hydrocarbons in commercial quantities. While performing additional well logging and data acquisition operations, a wireline fluid sampling tool became stuck in the well and was not recovered. An open hole sidetrack is going to begin shortly from below the last casing point to the planned TD. The joint venture expects to complete wave one operations within the original four or five months timeframe, as announced on January 23rd of this year. The JV has updated its well total cost estimates to $170 million-$190 million to successfully reach the target total depth and complete its drilling program. The increasing cost includes the delays associated with the late arrival of the rig and costs associated with fishing and sidetrack operations. As Gabriel mentioned in his opening remarks, we remain committed to successfully and safely completing this potentially transformational opportunity. I would now like to turn the call over to René Burgos, Frontera's CFO. Thank you, Orlando. Thank you all for joining us today. I'd like to take a moment to highlight a few key financial aspects of our first quarter results. Operating EBITDA was approximately $92 million in the first quarter. This compares with $145 million in the prior quarter. The decrease in quarter-over-quarter operating EBITDA was primarily a result of lower commodity prices and lower sales volumes. As of March 31st, the company had a total inventory balance of 1.6 million barrels, an increase of 0.4 million barrels compared to December 31st. The company actively manages its volumes, ending the quarter with more than 370,000 barrels of increased inventory as compared to the prior quarter, which was subsequently sold in the second quarter of 2023. During the quarter, the company invested approximately $132 million in capital expenditures, including $75 million in CapEx related to Guyana, $3.5 million in debt service payments, and just over $4 million in share buybacks. In addition, the company obtained net proceeds from the PIL Loan Facility of $150 million, which were used to fully repay the Puerto Valle legacy debt. We had higher working capital in the quarter, largely due to higher withholding tax payments resulting from the updated tax legislation. Payment of higher CapEx activities executing during 2022 and the additional Colombia, Ecuador oil inventory that I just mentioned. The company reported a total cash position of $183 million as of March 31st, compared to $313 million at the December 31st close. Turning to enhancing shareholder returns. As part of our 2023 plan, we continue pushing forward with our efforts to unlock shareholder value from our upstream Colombia and Ecuador business, our standalone and growing midstream business, and our potentially transformational offshore exploration program in Guyana. As Gabriel mentioned, during the quarter, we successfully refinanced Puerto Valle's legacy project finance debt. This new financing extends the borrowing tenor by three years on a weighted basis. Importantly, this credit agreement also includes additional flexibility, including an accordion feature for up to $30 million, which may be drawn by Puerto Valle to fund additional investment opportunities, including potential liquids and dry terminal expansion projects. This financing was tailored to meet the business growth plans. Consistent with the strategy, the new loan is supported exclusively by the cash flows from our midstream business. This financing is non-recourse to Frontera. Subsequent to the quarter, Frontera announced it had designated Frontera Energy Guyana Holding Limited and Frontera Energy Guyana Corporation as unrestricted subsidiaries in accordance with the terms and conditions of the indenture. As a result of this designation as an unrestricted subsidiary, Frontera Energy Guyana Corporation automatically ceased to be a note guarantor pursuant to Section 7.12 B of the indenture. In accordance with the indenture, the company utilizes available restricted payment capacity to affect this designation. I would highlight that since 2021, Frontera has generated in excess of $1 billion in consolidated net income, as defined in the indenture. The capacity available under the restricted payments covenant was sufficient to undertake such a designation transaction. With respect to the Frontera Guyana transaction that I just highlighted, the company utilized the most recent available information, including the recent JOA amendment transaction involving Frontera and CGX completed the third quarter of 2022, as well as the most recently available information to determine the fair market value as required. As our Chairman highlighted, this designation is consistent with the company's tier priorities and supports the ongoing capital discipline of the business. With respect to the company's NCIB, we repurchased approximately 500,000 shares of the company's common shares for cancellation for approximately $4.2 million. In total, we've repurchased 4.3 million common shares as part of our NCIB program that just recently ended on March 16th. This number equates to roughly 89% of the program's shares available for repurchase. Finally, we would like to thank our investors for the ongoing questions and interest in our company. In response to these questions, we have included additional information this quarter that shall further add clarity with respect to important aspects of our businesses. Within our revenues and operating cost disclosures, you will find additional details about our crude purchases and their subsequent sales. These purchases are primarily linked to our diluent activity as we blend our own production to reach the desired quality for transport and export. Second, we have added additional disclosure information related to our midstream business. This additional information is meant to provide a better understanding and visibility to our investors for this core business, and includes certain non-IFRS measures such as proportional EBITDA measure. Our reconciliation of these non-IFRS measures can be found in our MD&A. I would like to now turn it back the call to Orlando. Thank you René,. Before I wrap up today's call, I would like to take a moment to highlight some recent recognition Frontera has received for its commitment to ESG. On March 13, Frontera was recognized for a third straight year by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2023 world's most ethical companies. In 2023, 135 honorees were recognized, spanning 19 countries and 48 industries. Frontera was one of only two honorees in the oil and gas industry. On January 31st, Frontera was included in the 2023 Bloomberg Gender-Equality Index, a modified market capitalization weighted index developed to gauge the performance of public companies dedicated to reporting gender-related data. This reference index measures gender equality across five pillars: leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand. Frontera was also recognized in the first quarter as a top 20 best place to work in Colombia by the Great Place to Work Institute, and achieve ISO certification for its operations in Ecuador and its recognition for operations safety. It was also recognized by Friendly Biz for our LGBT+ friendly workplace. Looking ahead to the second quarter, we expect improved profitability throughout the rest of the year as we advance our development portfolio in Colombia and Ecuador. We anticipate growth in our water handling infrastructure and facilities capacity in both Quifa and CPE-6 as we lay the foundation for the company's path to grow production to 50,000 barrels per day. We will leverage our advantage, transportation, and logistic structure to maximize realized prices. We will mature our self-sustaining and growing midstream business, and we will complete operations at the Wei-1 well in Guyana. With that, I would like to conclude by saying thank you to Gabriel and René for the comments, and thank you for everyone for attending our call. I will now turn the call back to our operator, who will open the call for questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. Should you have a question, please press star followed by the one on your touch tone phone. You will hear three-tone prompt acknowledging your request, and your questions will be pulled in the order they are received. Should you wish to decline from the polling process, please press star followed by the two. If you are using a speaker phone, please lift the handset before pressing any keys. One moment please for your first question. Your first question comes from Oriana Covault with Balanz Capital. Please go ahead. Hi. Thanks for taking my question. This is Oriana Covault with Balanz Capital. I had a couple of questions, so if we could go one by one, that would be great. Starting maybe with the revised costs for Wei-1, just to understand the main catalyst that you see for cash generation and how would you expect if this additional cost and your remaining CapEx through the year, do you remain of the view of it being fully funded with internal cash generation? Hi, Oriana, and good morning. As always, thank you for participating. I think you had more than one question within that question, maybe we can break it down a little bit more. In our MD&A, you will find the recent breakdown and updated breakdown related to our updated CapEx views. I think what this translates to is roughly $10 million-$20 million more in expenditures from what we have previously guided the market to. I think I would point to what Orlando said, that we are committed to finishing successfully and also finishing safely the drilling of the Wei-1 well. I'll throw it back to you to see if there's any particular more detailed questions you want me to answer. Yeah, just thinking of the cash generation and your full CapEx program for the year. How do you seeing that the cash burn during the first quarter, how much is it remaining in Guyana? How do you expect to fund the remaining of your CapEx program through the year? Got it. Like, I think that we've highlighted to the market that we have a CapEx expectation, you know, call it I think it's $400 million-$475 million, depending on, you know, our ranges. What I would like to highlight there is that, you're talking about two different things, right? Funding Guyana, you know, we are only one part of the JV association to fund Guyana. We believe that we have sufficient capital to fund, you know, the required amount to fulfill the needs related to the well. As it relates to our program, getting our guidance is that we will be able to fund the expectations of our guidance as we present it to the market. I'm a little bit sorry. I'm gonna throw the question back to you. I'm a little bit just confused by your question. I think the bottom line here, Oriana, is that I mean, as René said, and as I said earlier, I mean, we remain committed to complete the well, and that is within our CapEx guidance. Yep. I understand. Maybe just one final one, and it has to do with the wider differentials that you've seen across for Colombian crude oil. Just to understand if you can share some views on what are you seeing that is driving this and where what are your expectations for the remainder of the year? Look, I would say it's two things. What we can highlight is that wider differentials in the first quarter, I think we've seen an easing of that. I think we're seeing improved terms now. Mm-hmm. I would highlight that the real reason driving that is, you know, the market that we live in today. I think that the Russia conflict, the different things that are happening globally are really driving a lot of volatility in these markets. I mean, you've seen the recent price action related to oil today, despite what we believe to be a very tight market. This type of volatility is driving a lot of those differences. To clarify, I think that we're now seeing the differentials have come down. We've seen an improved environment during the second quarter. Yes, in the second quarter. Mm-hmm. Got it. Thank you very much. Thank you. Your next question comes from Román Rossi with Canaccord Genuity. Please go ahead. Good morning, guys, and thanks for taking my questions. Just as a follow-up on Oriana's question regarding Wei-1. Looking at CGX financial statements, it seems they don't have enough cash to fund their share, right? Just wanted to have any comments from you if you are having discussions around providing more financing or any sort of financial support for CGX. No, Román, thank you for the question. I mean, Frontera cannot, I mean, comment on CGX plans. As we said, I mean, the JV remains committed to complete the well, but it's difficult for us to make any comment on CGX plans. Okay. Thank you. Just another question regarding the crude purchases. Even though the disclosures are better, just wanted to ask you, how should we think about crude purchases going forward? Is there a way to project it? Look, I think it's a good thing that you ask that. All these crude purchases are volume driven, and all we're trying to do, I think as I said in my remarks, this is the crude that we acquire so that we can get our... You know that we're a mostly heavier oil company. We can take crude, get it to the desired spec, transport it and export it. Let us work with you and Brent and the team, and maybe we can give you guys a little more clarity on the numbers that we presented. You know, it is digestible. What I would offer to just take it offline, and then we can help you kinda guide you with that. Okay. Awesome. Thank you very much. Yep, absolutely. Your next question comes from Anne Tompkins with Bank of America. Please go ahead. Good morning. Thank you very much for the call. I also would like to thank you for the increased disclosure, which I noticed as I was going through your press release. That is very helpful. I have a few questions. One, I'm just wondering right now how you're thinking with what you're seeing in the Colombian market about the future prospects for the Puerto Bahía, the two terminals that you have there, and what types of growth rates, I guess, you could see. The second question is on your water handling at Quifa. I think you said it's at 1.5 million barrels a day. And I just wanna confirm, will this be growing this year? And how much will it be growing by? Third question, sorry for this, is on taxes. René, I know you mentioned that was one of the reasons for the increase in working capital, I also see that income taxes paid increase. Is all of the increase both in the taxes paid and working capital related to taxes due to the new taxation that's coming in? Then I guess a final very, very general question is, first, you know, full quarter under the new government, how are you looking at, or what are you watching for in terms of new or additional decisions that might be made with respect to the oil sector? Nothing has been, you know, made so far. I know there's been some blockades, but that's not really directly. Just wondering if there's anything you're watching out for, particularly after the cabinet changes. Thank you. Why don't you take the Puerto Valle and the tax, and I can take... Yep. water handling and Yep. the last one. On the and a lot of questions, so please remind us if we. I know, I will. A piece of paper. I don't have a piece of paper with me, so I didn't take note, but I'm gonna try from memory. I think I drank my vitamins this morning, so I think I'm good. Puerto Valle. Yes. On the Puerto Valle, I think you know, this is a port that was built in 2015 that we believe that has significant room to grow, you know, both on the liquid side and also on the dry port side. As we think about volumes, you know, I think that today, that port has significant volume capacity to transport additional liquids. Capturing that flow of additional liquids into Colombia will be critical for us to continue to grow that. Today, I think we're roughly at, you know, close to 70,000 barrels a day of managed liquids, and this is up already from a number that was a couple years ago, probably closer to the forties. Our focus now is to continue to increase that. You can imagine that a port is also all about throughput, because we earn money by actually flowing more oil through it, not just necessarily holding or storing the oil through the port. That's one side, and we are looking at several strategic projects that can improve on that. On the other side, you know, today we have a really good business on the ro-ro side. I think we are the number one market share in the country related to this roll-on, roll-off cargo. I think that that is, you know, one aspect of the business that remains to be underutilized. We have, you know, several hectares of expansion capability for the port for us to kinda target. Second, we're looking at potential expansion into the container port business. All of these together, you know, better use of our existing land, better use of our capabilities to have stacking capabilities related to, you know, managing more cargo should be key drivers of a potential and potential drivers for additional profitability over Puerto Valle. Does that answer at least your question? Maybe, you know, one thing that we can do, Anne, is we can walk you through, you know, a presentation of the port and kinda highlight and pinpoint in particular detail where we see that expansion, you know, how much capacity and volumes. We certainly have that prepared, and we'll, you know, we'll gladly share that with you. Okay. Yeah. Just if there's anything that you think will be in 2023 an important growth there. That's all. Mm-hmm. For 2023. The other one later on. Mm-hmm. Yeah. 2023, I think it's more organic growth. I think some of these strategic projects, we hope that we will be able to tap in 2023. We're focused on tapping those. Right now I think most of the growth you'll see is from continuing to capture more market share from existing players, continuing to realign our port so we can capture more cargo and also more liquids, more liquids flows. Okay. Perfect. Thank you, René. On the taxes, I would say two things. Let me just make sure that I got the right number. On the withholding tax number is there was a recent regulation that increased withholding taxes by an additional 5%, so you're seeing basically that incremental amount. That's where you see a, you know, the value of our certain tax assets increasing. You know, this is effectively the side effect of the recent regulations, where you have the, you know, the government increasing the total take by the non-deductibility of royalties and also the surtax. I guess to answer your question, our guidance related to taxes to be paid at the end of the year remains to be the same because our tax is payable. Now we are being withheld a higher amount that we would expect to basically get returned by the end of the year because of over-retention. Okay. Got it. Thank you. Mm-hmm. On the project, on the water handling capacity increase that we are, I mean, currently as we speak, working on at CP6 and at Quifa, yes, certainly the idea would be to increase that capacity. For CP6, the project that we have is to double the water handling capacity of the field, which is today in 120,000 barrels of water per day. We are expecting to double that by the end of the year. That is a project that goes into stages. We are, I mean, on track with that, with that project. With Quifa, as I mentioned, the pilot for the SAARA facility, which was a facility that was completed like six, eight years ago, we are commissioning that facility as we speak. The pilot has been very successful. We have treated already 1.4 million barrels of water. We are on track. We are also on track with the plan to increase capacity in that facility. I think your question about the... If I understood it correctly, is about the plans in Colombia going forward with the reshuffle in the cabinet. Is that your question? Yes, any other actions by the government or what you're watching out for that would maybe change your strategy? Yes. No, we, I mean, we will remain committed to our operations in Colombia. I mean, we are aware that President Petro has a narrative, which is a bit anti-oil, to put it that way. The new minister of finance in the first statements that he made to the media in Colombia, he's, I mean, he's fully supportive of the oil and gas industry. He's fully aware of the importance of the oil and gas industry for the Colombian economy. His statements are very comfortable and for us, I mean, to continue with our operations in the country. Thank you. My, my top-notch team, gave me some more details, and I know that you love details on the taxes. I will clarify a couple of things. You know, we went from 16 to 36. There is a $7 million payment related to withholding taxes, and this is timing driven on ODL, the ODL pipelines. Remember we prior to this year, we also only own 60% of that, now the remaining 40%. You see an increase there, because we consolidate, you know, the investment, so we paid the tax on those dividends. The other one, I would say we have a $15.6 million payment, related to... this is the increased taxes that I was telling you about versus last year, I think is 16. This year you're already seeing that number being a little higher. there is one correction of $13 million there. Mm-hmm ...that we were, is a settlement that we did to catch up with some taxes that were owed as of 2022. I would say $13 of that $36, it's one time, and the other stuff is more one the ODL $7.4, and the other one is the increased number driven by the retention. Okay. That's very helpful. Thank you. Yep. Your next question comes from Christine Guerrero with Brickhouse Ventures. Please go ahead. Yeah. Great quarter, guys. It's wonderful to hear the well progressing, you know, you know, it being a complicated well. Most of my questions are regarding Guyana and the well results, and then I have a housekeeping question at the end. To start out, it's a pleasant surprise finding oil in the Maastrichtian and the Campanian. Does that seem to align way, the way results more with the Stabroek Block more so than the Surinam Block 58? Also, you announced the API for the Maastrichtian, but there was a lack of that clarity around the Campanian. You know, I wanted to know why, you know, why that. Since there was no information provided on the net pay, the porosity or the prospect size in the Maastrichtian and the Campanian targets, I was hoping you could provide some more clarity around that. Victor, do you want to take that question, Victor? Sure. Hello, Christine. How are you doing? I'm doing great. Long as we're drilling, I'm doing great. Great to hear from you. I think the first thing I would like to say is, and thanks for your question, is that so far we are pretty happy with the results that we have seen. Our geological and geophysical models are proving to be quite accurate and we are very encouraged by the results of the well. Also to point that we have already acquired a lot more data than we did in Kawa. I'd say that the first part of the question or the answer to your question that I would make. Second one is basically in regards to your questions about the oil in the Maastrichtian and the Campanian, and more like Liza or on Block 58. Basically, the point is in there is that we are still analyzing the data. What we released was the information that we have so far. Once we get to TD of the well, and we are able to analyze the data, we will make some more, we will release more information about this. Basically, we are encouraged and then we, you know, we are going to analyze the information and integrate it. In terms of your questions about the API, releasing API in the Maastrichtian and not in the Campanian, as we indicated in the press release. Basically, we were able to collect the samples in the Maastrichtian because the problem that we had with the NDT tool was actually when we were in the lower horizons, which were the reason why we did not increase any or release any information. Around the prospect size, I will also reiterate that we need all the information from the well. We are waiting to get all the different pieces of the puzzle, right? Including the wireline information, the NDT, the sidewall cores, which we hope to also be able to get in the next part of the well. Then that integration should allow us to be able to get a better picture of what is what we have found so far. Okay. just to clarify, does that mean that you didn't get any of the fluid samples in the Campanian, or the Santonian before the tool got stuck? We were able to collect the samples. The tool was not recovered. We have the digital information from the tool, from the samples that we collected, but we did not get basically, the samples. Okay? We have information from the wellbore or from the tool itself that was transmitted to surface, but we did not get the sample because that's the tool that got stuck. Okay? Okay. Yeah, perfect. That answers my question. Also, so far on your drilling, how closely is Wei-1 aligning to your pre-drill seismic modeling? Are the sand packages coming in larger, smaller? I mean, can you give, you know, some color around that? Yeah. Basically, what I can tell you is what I described before, right? That basically we are pretty close Again, we are not releasing yet, information about thickness or anything like that because we want to do one single release at the end after we are able to integrate the data so that we are able to put a comprehensive picture for everybody. Basically, the plan, so far we have seen what we had in the plan in terms of the subsurface model. Okay. At the end, how long will it take to complete the prospective resource update? Yeah. Well, we said it first that we are gonna stick to a plan of four-five months to get to the end of the well and get all of that. After that, Christine, we will have to wait to see how much data we are gonna be able to collect and how long that's gonna take for the analysis. I think we will have to wait until we have the data and we understand how long is it gonna take, right? As you know, some of the PVT analysis and some of these is gonna take a little bit of time, so we'll have to assess that, and the same with the side well cost. Okay. Also considering that Wei-1 is kind of remaining within the original timeline of four to five months, it seems like the cost has increased significantly. What's the primary cause of that miscalculation? I mean, is it that there were some inflationary clauses in the rig contract or some other hidden factor? It seems to be more than just the stuck logging tool. Actually. Yeah. Let me just clarify there. The real issue here was the delay. The delay. Right? The delay. Remember, we were ready by September to start drilling. We had everything lined up, including support. We were paying fuel, we were paying a lot of support equipment waiting for the drill to come. You're seeing that roughly $20 million of that increase is delay driven 100%. If you were to adjust that back, this well, including the additional costs that we're under, we're going through right now as disclosed in the release for the additional activity, would actually be under Cajua. Yes, the overall capital is bigger because of the delay in receiving the 7th serviceable. The NobleDiscoverer. The rig. The Norsediscover, yes. Okay. That's like a lot of standby charges and things like that. Exactly. Basically. Fuel and these things just tend to add up. We were at the ready, as we told the government and we told every investor by September, the drill didn't start drilling until January. Okay. Okay. Yeah. Thank you. That makes sense because the well cost misalignment, like I said, it just wasn't factoring to me. If there's, like you said, if there's a bunch of standby charges, you know, because of the rig mobilization, then that definitely clears that up. Then- It's unfortunate. It's unfortunate, but it's what it is. Yeah. I mean, yeah, it's part of working in a remote region, you know, and, you know, until the Berbice Deepwater Port is scheduled. I mean, I know there's, like, limited port support in the area, and you're transferring back and forth from Trinidad. The Berbice port being open, which I don't know if you can comment on that. Like, when is CGX Energy Inc.'s Berbice port, considering that you're the largest shareholder and also on the board of CGX Energy Inc., like, when is that port expected to open? We will defer that question to CGX. To CGX. Yes. Mm-hmm. Okay. Here's one that you may or may not answer as well. Earlier this year, it was reported by a third party that Frontera has received multiple offers for a corporate buyout and at least one offer for the Guyana asset. Have you received any further offers since your last report, and are there currently any negotiations ongoing? Well, you know, I mean, as a matter of, I mean, company policy, we don't, I mean, we don't comment on market speculation and rumors, you know. I mean, having said that, we are always, I mean, looking for M&A opportunities to enhance the value for all of its, of our stakeholders. Would consider M&A opportunities if it made sense to do so, you know. Just as an example, remember we increased our indirect interest in the ODL pipeline in September of last year. We increased our working interest in the Corentyne block last year as well. We acquired El Difícil PetroSud, a company in Colombia, by the end of 2021. Very, very, I mean, looking actively into M&A opportunities that again, I mean, make sense for our stakeholders. Yeah, that's fair. Thank you so much for taking my question. Thanks, Christine. Ladies and gentlemen, as a reminder, should you have a question, please press star followed by one. Your next question comes from Eloi Serrano with Goldman please go ahead. Hi, guys. Thank you for the call. Just a very quick one from my end. Can you comment on what the remaining capacity under your RP basket is after the change in the indenture that you just did? Sorry. There was no change in the indenture. You mean the designation? The designation, yeah. Essentially just what's your RP, your current RP capacity? Look, I need to get back to you on that. What I can tell you, and I think I mentioned in my notes, the company generated over $1 billion of Consolidated Net Income since 2021, which is the date on the, on the, on the indenture. In addition to that, we paid roughly, you know, last year we did SIVs around $92 million, and SIVs... Sorry. SIVs and SIVs of $92 million. The year before, we acquired shares for our $40 million. Like, I think like, this transaction, even with this transaction, we still have capacity under the restricted payments basket. Like, I think that, That's, I think, the information that we're gonna disclose at this point. Okay. Understood. Thank you. There are no further questions at this time. Please proceed. Thank you, operator. Thank you very everyone to take the call and taking the time today. Bye-bye. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.