Well, good morning, everybody. My name is Barbara Munroe, as Chair of the Board of Crescent Point, I will act as Chair of the meeting this morning. On behalf of the Board of Directors, it is my pleasure to welcome you to the annual general meeting of the shareholders of Crescent Point Energy Corp. The Board and management thank you for your interest and for your attendance this morning. At Crescent Point, we always begin with a safety moment. I would like to advise that in the unlikely event of an emergency, an alarm will sound. If you hear the alarm, please make your way to the doors to the rear of the hall and follow the signage out to the street level. Next, I acknowledge that we are in Southern Alberta, which is the traditional territory of many nations, including the Blackfoot Confederacy, the Kainai, the Nakoda Nations, and the Métis Nation, Region Three. In the spirit of reconciliation, I respect you all, those who have come before us in the Treaty Seven region of Southern Alberta. Before we proceed, I wish to acknowledge the contributions of Mr. Ted Goldthorpe. Ted is retiring at this year's meeting since being on the board of Crescent Point, election in 2017. On behalf of the board, I would like to thank Ted for his service. I would now like to introduce the other directors and nominees. In addition to me and Craig Bryksa, standing for election to the board at today's meeting, James Craddock, John Dielwart, Jennifer Koury, Mike Jackson, François Langlois, Myron Stadnyk, and Mindy Wight. At this time, I would like to thank the board for their continued support and guidance of the affairs of the company. Seated in attendance today is the executive team of Crescent Point, who will be available at the front of the room to answer any questions you may have after the formal business of this meeting is concluded and after Mr. Bryksa has provided shareholders with the corporate update. We also have a number of employees in attendance, all of whom are shareholders. Thanks for coming along this morning. With respect to the logistics of the meeting, if you wish to vote or participate in the formal part of the meeting, you must be a registered shareholder of record on April 6, 2023, or duly appointed proxy holder of Crescent Point. If you wish to speak, please start by stating your full name and confirming your status as a registered shareholder or a duly appointed proxy holder. In order to have the meeting proceed efficiently, we have asked a number of employees who are shareholders or proxy holders of Crescent Point to move and second the motions to be put forward to the meeting today. Note that because of the number of proxies held by management, all resolutions on today's agenda will be approved by the required majorities. If you wish, the scrutineer can provide you with a detailed breakdown after the meeting. If you have any questions about the business of Crescent Point, we will address them following the conclusion of the formal meeting and following Mr. Bryksa's presentation. With that, I will now call the Crescent Point annual meeting to order. Our Senior Vice President and General Counsel, Corporate Secretary, Mark Eade, will act as Secretary of the meeting, and he is seated at the table beside me. Jennifer Oliver of Computershare Canada, our transfer agent, is in attendance today, and I appoint her to act as Scrutineer for the meeting. I ask Mr. Eade to file a copy of the notice of this meeting, which was mailed on April 11, 2023, to the shareholders of record on April 6, 2023. A copy of the notice and proof of service will be filed with the records of this meeting. The Scrutineer has provided me with a preliminary report on attendance, and the count indicates that 191 shareholders are present in person and by proxy, representing 231,608,790 common shares. 42.3% of the common shares outstanding are currently represented at this meeting. I declare that a quorum is present and that this meeting is properly constituted for the transaction of business. A copy of the scrutineer's report will be filed with the records of the meeting. Copies of the minutes of last annual meeting of shareholders held on May 19, 2022 are available. I declare that the 2022 minutes have been verified and signed and have been filed in the corporation's minute book. Anyone wishing a copy of the minutes may pick one up from the table located at the back of the meeting room. First item of business is the receipt of the annual consolidated financial statements of the corporation and the auditor's report for the year ended December 31, 2022. Annual consolidated financial statements and auditor's report were mailed to shareholders in accordance with securities law requirements, together with the notice of this meeting. Copies of the annual consolidated financial statements and the related auditor's report are available again, at the table located at the back of the meeting room. I request the Secretary to file a copy of such statements and the auditor's report with the minutes of the. Jessica Bisset and Courtney Kolla of PricewaterhouseCoopers LLP, the auditor of the corporation, are in attendance today and available to answer questions after the termination. The election of directors is the next item of the business. In connection with the election, it is necessary to first fix the number of directors to be elected. The articles of Crescent Point currently provide that Crescent Point shall have not less than one and not more than 11 directors. Proposed that nine directors be elected at this meeting to serve until the next annual meeting or until their successors are duly elected or appointed. We are satisfied that this number of directors is currently appropriate to provide a significant range and depth of expertise and to meet all corporate governance requirements. I would ask for a motion to fix the number of directors to be elected at this meeting at nine. All in favor? Sorry, if any. The motion carries. Everybody hear the resolution? I would now like to open the meeting for nominations of directors to serve for the following year. May I have a nomination for the nine nominees, being Barbara Munroe, Craig Bryksa, James Craddock, John Dielwart, Mike Jackson, Jennifer Koury, François Langlois, Myron Stadnyk, and Mindy Wight. I nominate Barb. Now that's on. We got her now. I nominate Barbara Munroe, Craig Bryksa, James Craddock, John Dielwart, Mike Jackson, Jennifer Koury, François Langlois, Myron Stadnyk, and Mindy Wight to be elected as the directors of the corporation to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. In 2013, Crescent Point shareholders approved the adoption of an advance notice bylaw. This allows the corporation and its shareholders to evaluate the proposed nominees' qualifications and suitability as directors, helping shareholders cast an informed vote for the election of directors. No other nominations have been received in accordance with the advance notice bylaw, there can be no further nominations. I declare nominations for the board closed. Require a ballot vote on the motion. Mr. Eade, would you please explain the process. Thank you, Barb. The scrutineers provided ballots to registered shareholders and proxy holders upon registration at today's meeting, and many of these ballots have already been executed and deposited back with the scrutineers for tabulation. If you voted by proxy already, your vote has been counted, and it's not necessary for you to execute a ballot. If you still would like to receive a ballot, please raise your hand and a representative of Computershare will provide you with one. I will pass it back over to you, Barb. I don't think we need to go through the voting process. All right. We'll now continue with the business of the meeting while the scrutineer prepares the report on the vote. Next item of business is the appointment of auditors. I would request a motion that PricewaterhouseCoopers LLP, be appointed auditors of the corporation to hold office until the close of the next annual meeting of shareholders at such remuneration as shall be fixed by the board of directors. I so move. Motion. All in favor? Contrary, if any? Hear the motion carried. The next item of business is the advisory vote on executive compensation. The board believes that it is appropriate to hold a non-binding say-on-pay vote with the intention that this advisory vote will form an integral part of the board's shareholder engagement process around executive compensation. Detailed discussion of our executive compensation program is provided in the executive compensation section of the circular. I would now ask for a motion that on an advisory basis and not to diminish the role and responsibilities of the board of directors, that the shareholders accept the approach to executive compensation disclosed in the information circular mailed to shareholders in advance of the meeting. I so move. I second the motion. All in favor? Contrary, if any? Hear the motion carried. The report on the ballots for the election of directors has now been received. In accordance with that report, I declare that Craig Bryksa, James Craddock, John Dielwart, Mike Jackson, Jennifer Koury, François Langlois, Myron Stadnyk, Mindy Wight, and I have each been elected directors of Crescent Point to hold office until the next annual meeting of shareholders or until our successors are elected or appointed. Scrutineer's report will be filed with the records of the meeting. As all business properly brought before the meeting has been dealt with, this concludes the business of the meeting, and I declare the meeting closed. Thank you again for your attendance today. Mr. Bryksa will now give a presentation on the company, and following that, again, members of management and the board will be available at the front of the room to answer any questions. Everybody hear me? Okay, so I heard a little bit of feedback there from Barb, so I'll try to speak very slowly and make sure everybody can hear. It's great to see everybody out here today. I certainly appreciate you all coming, especially when you go through a couple years of doing this, you know, as a hybrid meeting. It's nice to be back in person, for our second year now in a row back in person. We're gonna spend a little bit of time here today. We'll run through a presentation, have a good discussion, and then at the end of this, we'll open it up for questions. Please, for those of you that don't know me, and a lot of you, as I look through the room, a lot of you do know me, the best part about the meeting is the questions at the end. I'd love to engage and more than happy to answer anything you have. If you're uncomfortable getting up and asking a question, then a few of us will be standing around here at the front after, and you're more than welcome to pop up and talk to us. Before I get going, I'd like to thank our staff, the emergency responders and firefighters for their hard work during the ongoing Alberta wildfires, and I wish the absolute best to all the communities that are impacted by this. I'm excited to share with you some highlights from the past year and provide some insight into the outlook for our business. We've implemented a strategic transformation at Crescent Point since 2018, and we've never been in a better position than we are today. I'll touch on a few things today that I think help tell the Crescent Point story, show how we position the company for success. We'll have that Q&A session, like I mentioned, after. Over the last five years, we have successfully transformed the company, enhanced Crescent Point's position as a leading energy producer. Over the next few minutes, we'll talk about what sets us apart and how we move strategically and with purpose to build out a balanced portfolio with a significant depth of premium drilling inventory. We'll also talk about our continued demonstration of operational excellence, our relentless focus on the balance sheet, and what all that means ultimately for everybody in this room is shareholder returns. We've achieved all of this while reducing our environmental footprint, reducing our emissions intensity by half during that same time period. We've strategically built an optimal pairing of short and long cycle assets that deliver added sustainability and diversification. This portfolio is highly liquids weighted and generates industry-leading netbacks, which allows us to punch well above our weight when you think of excess free cash flow on a per share basis. Our portfolio now has 15 years of premium drilling inventory, and what this ultimately means is the opportunity for us to deliver greater returns during that time period. Our short cycle assets, like those in our Duvernay and Montney plays, have impressive initial production rates, low capital efficiency, attractive scalability and premium depth of inventory, and quick payouts that allows us to quickly reinvest in the business. Our longer cycle assets, like our Saskatchewan plays, complement our shorter cycle assets with low decline, stable production, low capital reinvestment, and a significant excess cash flow generation. The strategic combination of these assets provides us with consistent, sustainable cash flow with low break-even and the opportunity for disciplined growth into the future. Crescent Point's teams are among the best in the business. We are a highly technical team and have established a proven track record of consistently delivering on our word, delivering on efficiencies, driving down our cost structure, enhancing production and returns, while also mitigating our declines. Great example of our innovation as we entered into the Kaybob Duvernay, you saw us quickly reduce our cost structure by 20%, all while ensuring safety is our top priority. I've spoken about our great assets and our great teams. Another piece that really sets Crescent Point apart is our capital discipline. Our capital allocation framework guides our decisions and ensure we prioritize balance sheet strength and long-term sustainability. In 2018, we've returned CAD 4.4 billion towards our balance sheet through excess cash flow generation and very strategic asset dispositions. This focus on balance sheet strength and financial flexibility allows us to withstand periods of low commodity prices and be opportunistic as we reshape the portfolio, as evidenced by both the Kaybob Duvernay and the Montney transactions. Long-term, we target a leverage ratio of 1 x debt to cash flow at a low commodity price environment in that CAD 45-CAD 50 range is how we think of it. We'll also continue to allocate capital to our shareholders to fulfill our commitment to return 50% of our discretionary funds flow to our shareholders. When you layer on our base dividend, it actually works out to be in 60% of our excess cash flow that is earmarked for our shareholders. By the end of this year, we expect to distribute more than $1.5 billion of cumulative returns to our shareholders since 2018. We'll deliver these returns through our base dividend, our share repurchase program, and along with special dividends as laid out in our capital return framework. At Crescent Point, safety is a vital part of our everyday business, and I'm happy to report that in 2022 we achieved our safest year on record. This is a direct result of our deliberate actions to make safety our top priority. We've built an incredible safety culture within the company by engaging our employees and contractors and empowering them to make safe decisions. We've continued this momentum into 2023, and I'm pleased to report that we just realized our safest first quarter on record through our refresh, refocus, and reconnect safety campaign. Our strong ESG performance is rooted in our prudent risk management approach. We've set targets to guide our performance and have achieved significant milestones in the past year, including successfully reaching our 50% emissions intensity reduction target three years ahead of schedule. I'm pleased to report that we've also reduced our asset retirement obligations by 50% during that same period. We look forward to sharing more detail on our progress in our upcoming sustainability report. Looking ahead, we'll continue to focus on the elements we believe set us apart from our peers and help us deliver attractive shareholder returns. We'll be disciplined and opportunistic in optimizing our portfolio. We'll continue our operational excellence and demonstrate our technical prowess across our asset base, in particular, our new Montney position. We'll maintain our capital discipline as we strengthen our balance sheet, and our commitment to our shareholders will continue through our disciplined return framework. The outlook for 2023 looks very positive as the oil demand exceeds historical levels. This supply-demand forecast paints a constructive picture, showing demand outpacing supply for much of this year. A few things have created this dynamic, including the underinvestment in the sector over the past few years, OPEC's continued support for the market, and the increased global concern for energy security. All of this gives us great confidence that the global demand for products we produce will remain strong, and it gives us great pride to be a supplier of choice for responsible energy. This attractive macro outlook, combined with our five year plan, results in a very positive outlook for Crescent Point. Over the next five years, we anticipate our production climbing to 195,000 BOE per day, with 70% oil and liquids weighting. This level of production, combined with our industry-leading netbacks, is expected to generate CAD 5.2 billion of excess cash flow, of which 60% is earmarked for our shareholders. This is using a CAD 75 price deck. In closing, I'd like to reiterate the priorities we have put in place to enhance shareholder returns. Our differentiated portfolio gives us exposure to two of North America's premium plays, paired with our long-cycle assets in Saskatchewan. Our operational excellence maximizes the value of these assets and epitomizes responsible resource development. Our capital discipline prioritizes balance sheet strength to position the company for success. Combined, these strategic elements generate significant excess cash flow and ultimately returns for everybody in this room. I'd like to thank everybody here today for your continued support. Most of all, I'd like to thank our staff. We've transformed the company into a highly profitable enterprise with tremendous potential ahead, and we couldn't have done it without you. We'll now open up for questions. You can see the mics on either side of the aisle. If anybody has any questions, more than happy to sit and have a conversation. Go ahead, sir. Hi. I have a question, not so much related to the business, but it's mostly on buybacks. I've owned shares in the marketplace for about 40, 45 years now, and I always find that most people use a share buyback as an opportunity push the share price up, you know, and eventually costing shareholders millions and millions of extra dollars market at a much cheaper price. I'd like to know how your share buybacks are conducted. Do you do it through your own people, or is it farmed out to a brokerage house? I'd like to suggest that maybe if they do that, people only buy stocks on down days instead of trying to push you know, the price of the share up to the moon on up days. Thank you. Yeah. It's a great question. One of the things that we were really happy to get out last year was our return to capital framework. We put that out last July, if you remember. The commitment there from us as a company is to return 50% of our discretionary funds flow to our shareholders, plus the base dividend is layered on top of that. That's where that 60% comes from that I've talked to you about. When you look at the 50% discretionary, the tool of choice right now for us has been mainly buybacks. When we sit down as an executive team and a Board and look through the valuation of our company and how we trade, and you look at that intrinsic value on what we've got on our books for a net asset value, and never mind what we have for potential running room ahead, it makes a lot of sense for us to be buying those shares and repurchasing our own company at these levels. You know, look for us to continue to do that. I would say if you want to get into the dynamics of how we do it, we do it quarterly. Ken, our CFO, is in the room here. We sit down and go through it. We do a forecast on both production and commodity prices and see from that what our cash flow is gonna look like. On that, what's our capital spend, what's our discretionary cash flow gonna be out of that, and then try and earmark that 50% out of that. We are in the market every day. Like you mentioned, ideally, it makes more sense to buy it on down days, and certainly we try to do it like that. There is points and times where you're bumping into it in higher days as well. That all said, when you look at how we trade today and whatever we're at today, call it CAD 9, I think was the last price we saw. At the levels we are trading at and our net asset value on our books, it makes a lot of sense for us to continue to buy at these levels. The other thing I would tell you is we're not chasing strip when we're looking at this or the strip commodity price. We look at it more of a mid-cycle pricing, so in that kind of CAD 65 environment, what is our net asset value on that? Certainly, at these levels, it makes sense for us to do that. We're gonna continue with that program, and it's a commitment we've made to you. Look for that to continue to play out here as we go. I don't know if that answered it all. That being said, we do use banks. We do use different brokerage houses through the process, but the instructions come in through our management team. Shirley Vaskevitch. I'd like an update on the fire situation as far as the oil industry is concerned, also with the share buybacks. Didn't the federal government announce a 15% tax on share buybacks? Sorry. Was it Shirley? Yes. Hi, Shirley. So two questions there. You wanted a little discussion on the fires and then on the share purchases. I can give you a quick update on the fires, but if you wanna come up after, our COO is in the room, Ryan Gritzfeldt. He's been monitoring the situation very close, not only our situation, but across the industry, so he can give you a lot more color than I can. I can tell you today, Crescent Point has about 45,000 BOE per day down. The major field for us that is feeling the main effects is our Duvernay, Kaybob Duvernay position. If you think of where that's situated on the map, it's right near the town of Fox Creek. The town now has been evacuated for, I wanna say, two weeks, pretty much. Ryan, is two weeks maybe tomorrow? So a long time. So you think of what these people are going through, absolutely terrible. I can tell you, us, as Crescent Point, I mean, everything to support them any way they can, that we can, whether financially, people helping out with evacuating. Helicopters, water bombers are using our water hubs across the field to quickly reload their payload and then dump on the fire. You know, if you look at the sector as a whole, I think the last number I saw, and don't quote me on this, but I think the last number I saw was around 380-ish thousand BOE per day down. You know, there's ebbs and flows in that. Again, the sector as a whole, whether we're the producers, the E&P, or sorry, the E&Ps, the service companies, the pipe companies, we're all working together to ensure that we can get this under control as fast as we can. I would say the biggest difference is gonna be rain and Monday. Ryan is in the room. He's been staring at it for 14 straight days. He's up here. I can point him out to you, Shirley, after if you wanna talk to him. He's been staring at this nonstop and can certainly give you more detail on that than I can. As far as your question on buyback, that tax isn't 15%, it's 2%. That starts in January of next year is how it looks. Hello. Hi. Matt Hogg. I'm sure you guys could tell me how much energy you make on a daily basis. I'm curious how much you consume. I noticed a metric on the slides, tons of CO2 per BOE. Is that something you guys are gonna be tracking go forward as a KPI? Yeah. Sorry, did you say Matt? Yeah, Matt. Hey, Matt. you know what, Matt? I cannot tell you what we consume in a day for energy. I mean, those are things that would take us a little work to sit back and find out exactly what that number is. I don't have that on the tip of my tongue. I'm not gonna lie to you, Matt. That's the first time I've ever been asked that. as far as emissions intensity, the intensity is what we track, and that's tons of CO2 equivalent on a BOE basis per day, is how we think through it. It equates then obviously to an absolute number. When you look at that, near-term emissions intensity reduction target that we've achieved three years ahead of schedule, that was on our Scope 1 emissions. It actually worked out to be about 70% of our methane, absolute methane. If you think of methane, everybody in the room is going to know that that is of all the greenhouse gases, that is the worst one, and our focus has been on methane. We've clipped 70% of that on an absolute basis for methane, worked out to 50% of our Scope 1 emissions intensity. Since achieving that goal, we've reset a new goal. By 2030, we wanna reduce our overall Scope 1 and 2 by 38% by the end of this decade, and I'm happy to tell you, Matt, that we are on track. Things on that look really good. We take this very serious. I did mention in my slide presentation, we've got a capital allocation framework. The beautiful thing about any type of framework is it creates discipline in the system. With that framework, we've got a commitment in there that 5% of our sustaining capital budget will be reinvested in environmental initiatives like that. That's part of it. Emissions intensity, apps, our asset retirement obligations, those are all part of that as well. Making progress, and we're gonna continue to make progress. Are you sure? Come on. There you go. Yeah. I'm wondering, and the 2% tax, I'm wondering if you wanna talk about making buybacks more of a priority and dividends less of a priority. Yeah. 'Cause we can always make dividends more of a priority at a later date when there's other factors like the P is much higher, 'cause it's not gonna stay at 5.6. What if it goes to 12, 13, 14, and all of a sudden then we're buying back stock at a P of 12 or 13? You know, that's a good question. I would tell you right now, again, a step back on how we trade relative to our NAV, it makes sense for us to buy back. We've all Whether we look at that on a recycle ratio, on F&D, any type of metric you wanna look at returns, it makes sense for us to do that, we're gonna do that. I would tell you it is absolutely the two of our choice. When you step into a quarter and the company is no different than me, it can get blacked out during a quarter. Depends what we're doing. When we step into a quarter and we sit down at the start of this and the management team is planning on how we're gonna do things for the quarter, you're looking at a very volatile commodity price. You're looking at a production profile that, you know, ideally is always better than you set, but you never know. Things like we're living here through with the wildfires can come into play, and then you've got a capital spend throughout that quarter. You're trying to navigate live numbers and punch out 50% return. Like we've said, our return to capital framework is very formulaic, and you can see it, and that's why we love it. It creates discipline. That 50% we're trying to do the majority on that is buybacks as we can. At the end of the day, there might be a little bit that doesn't quite get hit. What we end up doing in order to hit that percent is that gets kicked out as the special. Buybacks are the tool of choice. That being said, we want to continue to grow our base dividend. Our base dividend is extremely important for us, to us as a management team and a board, and we want that to grow over time. Look for us to continue to grow that as you've seen us now move it to call it CAD 0.40 a year right now, roughly a 4% yield. As we continue to drive our leverage down, our debt down, we'll look to move that base level dividend up as well. To answer your question, we are trying to. You got to remember, 50% goes to the shareholders, 50% stays with us in the company to reinvest in the business. Right now that's being directed towards the balance sheet. Hopefully that answered your question. Yeah. It sounds like you'd like us to do more. I guess I just want you to do what I want you to do. Yeah, no, I get it. Yeah. Hans Switch, registered shareholder. Just a couple of questions. Craig, I've been a shareholder since June 3, 2009. I've seen that share price fluctuate a great deal. I've seen the dividend disappear and return. Several questions. One is, maybe a comment on how do you think the buyback tax is going to affect the strategy of buybacks next year? I'm sure your team's given a lot of some thought to that already. You're not gonna wait till January 1. The second thing, I personally like the buybacks. I favor that, but at the same time, I see where the dividend is very important to the share price. And, quite often I compare to Whitecap, even though I don't own them anymore. I agree with the gentleman who was here prior that said that he'd like to see more of the buybacks. I feel confident that the board and the management have a pretty good plan on determining how much the buybacks will be and when to do it. I realize that there's the limits that are set to the buybacks within any quarter. At the same time, I like the buybacks. I don't know what the 2% tax is, how that's gonna affect the buybacks. Certainly gonna discourage, I think. At the same time, I'd like to see that dividend increase so that share price a little bit higher. That's just my own opinion. Thank you. Okay, all of those things I agree with. I'd like to see the share price higher and the dividend increase or go over time as well. We're on the same page. You know, as far as the buybacks, as we look into the next year, and again, I'm gonna pull it back to how we trade in this commodity price environment relative to our net asset value. It makes sense for us to do that. I'm happy to tell you that, you know, that the 2% tax that's gonna be on it is not discouraging us from that. As we look out into the future, we're gonna continue down that path. That's the beautiful thing about having a return to capital framework. It's a commitment to the market, and it's a promise that we've made to you, and you can hold me accountable for that. You can hold the executive team and the board accountable for that. That's why we put out that framework. Like I say, a big portion of that is earmarked for buybacks. Keep in mind, to date, year to date, we bought back 10 million shares already and we're active on it. The other thing I would say is with any type of commodity-based company that has a significant amount of capital program, it ebbs and flows. Your excess cash flow ebbs and flows quarter to quarter based on how much your capital program. For us, Q1 is a more capital intensive quarter relative to Q2 and then even a little bit more relative to Q4. There's quarters where you have the ability to do more of it, and then there's quarters just based on how your free cash flow is modeled, that you have the ability to do. Not the ability, but you're constrained to do a little bit less. For us, we look at it on an annual basis, right? That's where that target of a 50% total discretionary, but 60% of the excess cash flow comes into play. You know, if you step back and think about it, what I just talked about running it through our five year plan, we're growing to 195,000 barrels a day, which is 2% CAGR when you think that, which I would call very disciplined, manageable, sustainable growth into the future. things for us, I've been in this role five years, this company has never looked better than it does today with the portfolio as it's come together with the Montney and the Duvernay, two premier North American plays paired with our long cycle assets in Saskatchewan. That projection, as we look into year five and into year 10, looks great. the highlight in there, if you believe CAD 75, and I hope, I hope you're more bullish on oil than I am. well, maybe not quite that I am, CAD 75 seems absolutely a reasonable price during that time period when you start to look at the supply demand balances going and shifting throughout the globe. That's CAD 5.2 billion of excess cash. Our market cap today is gonna be somewhere around CAD 5 billion. We're gonna excess cash flow over the next five years at a CAD 75 price environment, more than we're trading for today. 60% of that's going back to this room. The other 40% is gonna come towards our balance sheet and allow us to reinvest in the business. I fundamentally agree with both you on the repurchases. We also agree as a management team and a Board that we need to continue to advance the base dividend. I love the questions. Sure. Matt, you got. Your assets in Saskatchewan with the lower decline, do you see any opportunity to take some of those, call it, novel production techniques or strategies into these new assets that are kind of more over in your scalable side of things? Yeah. What would be the impact? It's a good question, Matt. If you look at our Saskatchewan assets, a lot of these have been in the portfolio for a long time, both in southeast and southwest. Saskatchewan runs at about 65,000 barrels a day. For us, BOE a day for us right now. When you look across our five year plan, it's basically dead flat. The beautiful thing about these assets now is your sub 20% decline rates. They don't take a lot of capital to hold them flat, and that's because of the advancement of the waterfloods and the polymer floods we've been doing out there. The other thing I would note in Saskatchewan, just the southeast portion alone, free cash flow is CAD 550 million at a 75 price deck. When you layer on southwest, you add on another about CAD 150 million to that. You know, these things don't take a lot of capital and generate a significant amount of excess cash. That allows the company to do so many other things with. To your question as far as, can we take some of those techniques and advance them across the plate? I mean, there's certainly things we'll look at. Maybe more so in the Montney than the Duvernay, and the Geos and Enges are in the room here, and they can help me with some of this answer after as well, if you wanna pop up. In particular, the Duvernay, it's a little bit tighter reservoir. It's extremely deep with extremely high pressure. It doesn't really bode itself well to something like water flood or polymer floods just on how tight it is. Montney might be something that we can look at down the road, more water-ish, but we'll see how that plays out. It's just in a different phase of its life cycle than Saskatchewan, right? It's under that primary development, and the opportunity set right now in front of us is more for that. Things we'll look at, though. I've been doing this five years, just so you know. This is my fifth year. Never had this many questions. I've never had this many questions. Two of these have been in person, two of them have been virtual, and four of them, I think I had no questions. I appreciate it. You know, with that, if there aren't any more, we'll maybe wrap it up. If you do wanna pop up front, we're gonna be here for a little while. Like I say, Shirley Ryan's here. I'll point him right out to you, he can give you a bit better of an update than I could. I thank each and every one of you for your continued support. The company has made significant progress in the last five years. It's fundamentally different than where we were five years ago. Five years from now, we're gonna be fundamentally better. We can't do all that without you. Appreciate everything. If we didn't have any questions that you've got, just run up front after, we're happy to talk. Thank you.