Recording in progress. The quarterly report that NewMed published this morning as well. During the call, you can ask questions in the Q&A box. With me today, Chairman of the Board Gabi Last, our CFO, Tzachi Habusha, and Yossi Abu, CEO, I am Guil Bashan. I will share the presentation and hand over to Yossi. Yossi, please. Thank you. Thank Thank you very much, everybody, that you joined us this afternoon. It's a historic day for us. After a long walk, we finally get to signing this deal, which practically is taking forward the second phase of Leviathan Field. During the presentation, obviously, I will start with the deal and present the deal in length. We will move to Tzachi Habusha, our CFO, to cover the quarterly report. We will update on additional activities that we have, both in Bulgaria and other places. We also will take you through the story of the dividend announcement. We just announced another $60 million of dividend that added to the $60 million of Q1. We will start. A little bit of background on the 130 BCM deals that we just saw. As you know, we took an investment decision on the first phase of Leviathan with a capacity of 1.2 BCF a day, 12 BCM a year. That basically will start to flow like late 2019, early 2020. We had three countries that we flow: Israel, Jordan, and Egypt. The first Egyptian deal, which we signed in 2018 and we're updating in 2019, was for 60 BCM over 15 years, so roughly 4.5 BCM, 4.7 BCM a year. From that deal, we already flow 25, almost 25 BCM. We have 35 BCM left in the capacity of that deal. The new deal is basically add to that additional 130 BCM in two layers. The first layer, the 20 BCM, 2 BCM a year, that practically starts right now, early 2026. It will take the capacity from 4.7 BCM, the current flow, to 6.7 BCM. The second layer is a 110 BCM deal that's based on enlarging the capacity of Leviathan, second phase of Leviathan, that will start roughly in 2029 and will go with us until 2040 and even further down the road. That will be in around 12.5 BCM a year, starting when we finish the second phase of Leviathan. What is the second phase of Leviathan? As you know, today we have a 12 BCM capacity. We are on the final stage of installing the third flow line of Leviathan. We'll finish this project in early next year, so early 2026, that will bring us to 14.5 BCM. The second phase of Leviathan is extra wells and two additional treatment systems on the platform, on the current platform of Leviathan that will bring us to anywhere between 21 to 23 BCM of capacity. This is what we are targeting to do. Practically, once we sign this deal, our expectation is to have a final investment decision on the second phase of Leviathan in Q4. We just finished a half a billion dollar investment in this project, mainly FEED and long lead item. We are ready to go forward with this project as we sign this agreement. In this slide, you can see basically in green all the actual flow of gas to Egypt from the first agreement. You can see that in 2024, we even reached 7 BCM. What we are expecting to have is 6.5 BCM or 6.7 BCM firm 2026 forward until second phase. It will go up to around 12 BCM over the years. This is not the end. On top of that, we'll be able to sell spots to the Egyptian market based on the availability of the Egyptian market and our availability. One thing is very important about this deal. This is a yearly supply deal rather than a daily or a monthly. That will allow us to flow more to the Egyptian market because we'll be able to flow in off-peak months a lot of gas, more than the current flow. This is important because it will give us the ability to serve both the Israeli market and the Egyptian market due to the seasonality that we have here. When we look on the midstream activity, currently, we are flowing gas to Egypt through two main routes. One is the EMG pipeline. It's going from Ashkelon, the south of Israel, to Egypt. This is the offshore pipeline that you see. This is the EMG. The current capacity is around 6.5 BCM. Once we finish the Ashkelon looping, we will be around 8.5 BCM, 9 BCM. In addition, we are flowing gas to Egypt through Jordan. Currently, on top of the Jordanian needs, around 3.5 BCM capacity we can flow to Egypt. We are installing compression systems. Next year, it will be up to 7 BCM through Jordan to Egypt. In addition, we are targeting to have a new route both in Israel and in the Egyptian side, which will be able to flow additional 6 to 8 BCM. Our expectation is the total flow capacity midstream-wise from the Israeli market to Egypt will be more than 20 BCM a year, 2 BCF a day. That will allow us not only to sell our firm obligation, but even more spot quantities down the road. This is with respect to the agreement. To be frank, we developed a great relationship with the Egyptian market. This agreement has really emphasized the importance of Egypt as the most important energy hub in the region, certainly for natural gas. It's a continuation of what we have. Now, we will move to cover the quarterly results. Then we'll come back to cover other activities that we have. Please, Tzachi. Okay. Let's move to the financial statements and talk about the quarterly production. First, as I mentioned before, as you can see in our financial statement, we have summarized the second quarter of 2025 with revenues of approximately $192 million and about 2 BCM produced from Leviathan with a net profit of around $81 million. These are lower figures compared to Q2 2024, with revenues of $295 million, 2.6 BCM, and roughly a net profit of $137 million. The net profit decline was because of a decrease in revenues from natural gas and condensate and lower financial income, which was partly offset by lower production costs, depreciation, financial expenses, and income tax expenses. Leviathan's gas sales dropped mainly because of two factors. First, a planned 11-day shutdown, mainly for the third gathering line project. This project, as Yossi Abu mentioned before, is going to increase the annual capacity from 12 BCM to over 14 BCM yearly next year. This shutdown was expected and a part of our 2025 plan. The second factor is regarding the impact of Israel's operation in Iran. As mentioned, based on the order from the Ministry of Energy, the activity of the Leviathan platform was halted for approximately 12 days as a preventive measure. If you are taking the 11 days and the 12 days, more than 23 days, we shut down the operation in Leviathan. Alongside these two main factors, lower Brent prices compared to Q2 2024 reduced the average gas price per MBTU. Regarding this gas price, I would like to highlight that Leviathan's long-term contracts include a take-or-pay mechanism and limited exposure to Brent price drops with a floor price per MBTU. Here, the very good slide shows the main changes in the net profit compared to the same period last year. The net revenues for Q2 decreased by $89 million. This includes a $60 million decrease due to lower production, a $26 million decrease due to a lower average price, and a $2.3 million decrease due to lower sales of condensate. Other changes include a reduction in operating expenses, $12.4 million, and tax expenses. This is a new slide, the net financial debt we are now sitting on a cash, an equivalent cash. The total net debt is around $1.1 billion, consisting of Leviathan bonds maturing in 2027 and 2030, plus $275 million from a fixed-rate long-term bank facility minus cash and equivalents of $390 million. During Q2, we repaid the second series of Leviathan bonds in a total amount of $600 million. Regarding this issue, I would like to remind you that the partnership has a budget program for the 2027 series. I think, Yossi, this concludes the key points regarding the Q2 financial statement. Thank you. Thank you very much, Tzachi. Before we go to questions, there are a few more points that we want to cover with you at this stage. First thing, in addition to the activity with respect to our organic assets, the second phase of Leviathan continues to push the development of Aphrodite. We are about to start a very important exploration campaign in the Black Sea in Bulgaria. This exploration campaign could be extremely impactful on NewMed. What we are seeing, we are seeing two prospects that we are going to drill starting in Q4 this year and one after one. We'll start with Vnec. Vnec is a 2 to 3 TCF prospect with a chance of success of a bit higher than 40%. This is a very promising prospect to us, and this is the start. We move to Chrome. Chrome is a prospect with a lower chance of success, around 32%. The potential could be about 6 TCF. We are sitting in the middle of potential supply to the European market. It could be a mega event for NewMed, and we are very thrilled about this opportunity. Just to cover, as we always say, we would like to provide to our shareholders a very clear and clean dividend stream for many years to come in parallel to the investment in the organic growth, in parallel to the investment in new activities like Bulgaria and Morocco. We are doing that, as you can see, quarter on quarter. We announced today another $60 million of distribution of dividend to shareholders. This is a team-up with the $60 million of Q1. Up until now, we are $120 million this year. Our aim is to continue and have it. Based on the cash flow that we are seeing, we build Leviathan in a very modular way. We have 12 BCM now, early next year 14.5 BCM. That will allow us to cover the investment of Leviathan's second phase. All of that we build in order to continue and distribute dividend, continue investing growth, and keep a very balanced debt on Leviathan bond basis or Leviathan basis and corporate basis. Thank you very much. We'll move to a few Q&A as well and give us two minutes to see what is the question, and we'll come back to it. I'm going to try to take a few questions. There's some questions about Leviathan's second phase. I really like that second phase is quite in a very advanced phase because we already invest half a billion dollars on full feed and long lead items. Everything in place to take an investment decision on the second phase. As I mentioned, we're due to take this investment decision by Q4 this year and start flow during 2029. That's the work program. We will soon publish the updated number, but as I mentioned, roughly with the midstream is around $3 billion project for us. This is about Leviathan. I think this is, 100%, right. Yeah, goals, I said, for us, the partnership with Leviathan. On Aphrodite, I think this deal is definitely a pivotal deal that will allow us to continue and negotiate with the Egyptian on bringing more gas to the Egyptian market from Aphrodite. We definitely see the need in the Egyptian market. As I mentioned, Egypt is the most important natural gas hub in the region, and we'll continue and work with this market as well for Aphrodite. I think it's very good news for Aphrodite, this deal, because it paved the way for the next deal for us with the Egyptian. With respect to Leviathan Deep, we are working to find the right 3D campaign, which will be focused on Leviathan Deep. We are already in the market trying to understand all the alternatives, and once we close something, we'll announce. Thank you very much for having time with us today. Appreciate your time and looking forward to see you soon with even greater news. Thank you, everyone. Before wrapping up, I can just say that we're available for you. If you have any additional questions, you can email or just call us. Thank you for joining us, and have a good day. Thank you.