I'm Guilherme Coelho. I'm CEO of Ventura Offshore, and I'd like to thank you all for joining us today. Here with me today are Marcelo Issa, our CFO, and Olav Hamre, our F inancial Advisor. On today's call, I'll provide you an overview of our performance and highlights on the second quarter, cover our fleet and contractual status, including contract awards. Next, Marcelo will provide a financial overview of Q2, and then I'll provide a brief market overview before wrapping up and opening for questions. On the questions as mentioned by the operator, please remember they are to be made in writing. Use the Q&A icon you can see on your screen, on the top part of your screen. We'll read and respond there. This is our disclaimer, which you are familiar with. Starting off, very glad to report our very robust operational performance in the second quarter of this year, with an uptime of 98%, in line with the continuous improvement observed since last year. A big thank you to our teams offshore for delivering those great results. Another key highlight for the quarter, in Q2, Ventura Offshore has delivered an adjusted EBITDA of $21.9 million and net income of $20.4 million. Again, this quarter, we maintained our industry-leading cost structure, operating with an average OPEX of $111,700 per day, excluding ancillary service for the Catarina, which are fully reimbursed by the customer with a markup margin. We've discussed this in our last earnings call, but it was in Q2 that we announced the four-year contract extension for the Victoria, the 135-day contract extension for the Carolina, and a one-year contract extension for the Atlantic Zonda, with an added backlog in Q2 of over $500 million. With that, our backlog at end of Q2 stood just shy of $1 billion. We've also raised $75 million through a tap issue on our existing bond loan, revised the terms of said bond to postpone amortization payments to April of 2027, and extend the maturity of our RCF to end of this year. With that, we close the quarter with a free cash position of $105.2 million. On subsequent events, we announced the exercise of a fourth and last optional well under the Eni contract for the semi-submersible Victoria, which is the well we are currently drilling. Last quarter we talked about the renegotiations with Petrobras, and the follow-on announcements made in April this year about the extensions on the SSV Victoria, DS Carolina, and Atlantic Zonda. As a subsequent event, we announced the exercise by Eni Indonesia of the fourth and last optional well we have in our contract for the Catarina. These charts, they show how our contractual coverage looks over the years, both on an aggregate backlog and rig-specific contract duration, with the dark green representing firm backlog and firm contractual period, depending on the chart you're looking at, and the light green representing optional periods and potential additional backlog. As you know, and already highlighted in the past, we have all Ventura Offshore rigs operating in Brazil contracted until 2029 or beyond. Victoria, for instance, has a firm contract until the beginning of 2031. The Carolina and Zonda still have options yet to be exercised, which could take contractual term to 2031 for the Zonda, and potentially 2033 for the Carolina. A very comfortable position to be in from a revenue visibility standpoint. From a backlog viewpoint, our current backlog stood at the end of Q2 just shy of $1 billion, as I've mentioned, taking us to firm contractual commitment all the way to 2033. While the existing options not yet exercised, represented by the light green bars, add another potential $617 million to the backlog number, which will potentially take us all the way to 2033. Covering briefly each rig, and starting with the Victoria. Her last day of operations, as per the original contract term with Petrobras, was on August 7th, and she was mobilized to Guanabara Bay, here in Rio de Janeiro, to undergo her planned out-of-service period for SPS, regular maintenance, and MPD installation. Project is going according to plan, and expected to end around January of 2027, when contract will resume, and she'll start her four-year extension with Petrobras into early 2031. The Carolina is now in final days before end of her current contract with Petrobras. Client equipment is being demobilized as we speak, and the contract is expected to end on September 7th, end of next week. We will then bring her to Guanabara Bay as well, close to Victoria, for her out-of-service period for SPS, regular maintenance, and contract preparation before starting her Sépia and Atapu contract, also around January of 2027. On that, probably a word or two on CapEx guidance estimations given to the market in early April. Both projects are still at very early stages. The Carolina project hasn't even officially started yet. We expect to be in the position to provide you with an updated guidance during our Q3 earnings call, when we should have greater visibility of final costs incurred and to be incurred. At this moment, we see some level of fluctuation in our CapEx estimations, which is perfectly normal in projects this size, with a slight tick upwards, but not materially different from the figures shared with you a few months back. Moving on to the Catarina. We announced now in July the exercise of the fourth and last optional well by Eni Indonesia, and we are now operating on this well, which should take us into October this year. Good news is that we have since received written confirmation from Eni of their intention to drill one additional well under the existing contract, which would keep the rig busy until end of the year. It's a matter of time to get this additional well papered up, and an announcement should be made once and if this amendment is indeed signed. On the Atlantic Zonda, she continues to operate very well for Petrobras and closed Q2 with an over 97.2% uptime, and recently celebrated over 1,000 days without any lost time incident, an achievement we're very happy and proud about. Her contract is now a four-year duration after the one-year extension we had, firm until 2029, and two additional years remaining to be exercised, which could take her to 2031. The partnership with Eldorado remains strong and very positive, so much so that we're happy to inform that we have secured a marketing and management services contract with them, exactly in line with what we have for the Zonda, for the Deep Value Driller drillship as well. We believe to be well-positioned in some of the tender processes on which we have offered this rig. Of course, the signing of this contract for the DVD with Eldorado was done prior to the Eldorado Vantage transaction closing, and the tender processes we are participating with DVD also predate this transaction. Before I hand it over to Marcelo to cover our financials, I just wanted to touch on two topics worth spending a minute or two. The recent rumors about Petrobras looking at reducing the number of rigs next year, and the discussions on the Carolina interdiction of last year. Firstly, on the noise around Petrobras looking at rebalancing their rig count in 2027. We've been getting questions about this, and so have our competitors. It's important to clarify that Ventura Offshore has not been approached by Petrobras at any moment to discuss any change in our signed contractual arrangements. No calls, no meetings, nothing of the sort. So we have absolutely no reason not to be confident with our rigs starting their contract early next year as planned. Our rigs will be operating for specific consortiums, Sépia and Atapu for Carolina, where Petrobras partners with TotalEnergies, Shell, PETRONAS, QatarEnergy, Petrogal, and Búzios for Ventura, where Petrobras is partners with CNOOC and CNPC. We remain very confident about having both rigs on payroll again early 2027. Finally, a quick comment on the Carolina interdiction. As mentioned in our reports disclosed earlier today, we have now concluded our discussions with Petrobras, and I'm happy to report that the final revenues agreed and settled are exactly in line with what has been accrued in 2025. With that, I'll hand over to Marcelo Issa, who will cover our financial highlights for the second quarter of 2026. Thank you, Guilherme, and thanks to everyone for joining Ventura's earnings call. In Q2, the company generated total adjusted revenue of $59.8 million. This was composed of $55.7 million from the operating activities of our three owner drilling rigs, and $4.1 million in management fees. The income statement reports $67.5 million in revenue from drilling services. However, it's important to highlight that this includes $11.7 million from the amortization of non-favorable contract liabilities, which is a non-cash item. The company remains committed to keeping OpEx low. Total OpEx for the quarter was $31.3 million, of which $800,000 is related to ancillary services. The daily OpEx was $111,700 for the quarter, and the average daily OpEx for the year is $109,000, both excluding ancillary services. The adjusted G&A for the quarter was $6.5 million. The income statement reports $4.7 million that was adjusted to exclude a tax reimbursement of $1.8 million. As a result, adjusted EBITDA for the period stands at $21.9 million. Looking at the balance sheet, our ending free cash position in Q2 is $105.2 million. The variance from Q1 was mainly due to the $75 million bond debt in Q2. There is also $27 million in restricted cash held on behalf of the owners of the managed rig. Next slide, please. The decrease in accounts receivable from Q1- Q2 was mainly driven by a timing effect on collections. Amounts expected to be received in March were received in early April. Therefore, the accounts receivable balance in Q2 is normalizing. CapEx in Q2 was $7 million, of which $3.4 million relates to items for Carolina's new long-term contract. Regarding the interest-bearing debit, the bond loan was amortized by $10 million, and $75 million was raised through the tap issue during the quarter, bringing the bond balance to $190 million. The $90.3 million draw under the RCF was fully repaid during the quarter. As a result, gross interest-bearing debit in Q2 stands at $109 million. Along with the bond tap, we also agreed to revised terms for the bond loan, including the deferral of the remaining installments from July 2026 through maturity. In addition, we extended the maturity of a revolving credit facility to end of 2026. These actions improve our near-term liquidity profile and are intended to facilitate the contract preparation and SPS for Carolina and Victoria. This is part of the two-step refinance approach, with an initial focus on addressing near-term funding requirements, followed by a broader refinancing in the fourth quarter. I will now hand it back to Guilherme for some market highlights. Thanks, Marcelo. I will now quickly cover our offshore market outlook, and on that, we are very much aligned with the bullish view shared by our colleagues from the industry. Global Offshore fuel development CapEx is growing this year about 30% versus last year, according to S&P, which has translated, among other things, into record high number of rig years contracted this year. Increased number of RFIs coming up down the pipeline, more exploration work, and ongoing tender processes. All that is pointing to an expectation of floater utilization to go significantly beyond 90% by next year, as shown in this graph by S&P. As far as Brazil goes, our view remains that the rig market has reached a stabilization between supply and demand with a rig count around 35 rigs. Petrobras has reduced their rig count, in line with our expectations, but most rigs were absorbed by IOCs, or employed or about to be employed internationally, as was the case, for instance, with Transocean Mykonos going to BP in Brazil, Valaris DS-17 going to Shell in Brazil, and Transocean's KG2 going to ONGC in India, as recently announced. However, the swing factor remains a success in the exploratory wells in Pelotas Basin, in the known basins of Campos and Santos, which have exploratory work, but more particularly and more importantly, in the Equatorial Margin. As you're all aware, Petrobras recently announced the confirmation of hydrocarbons in the Morpho well offshore Amapá in the Equatorial Margin, supporting the view that the region may become an important long-term growth frontier. Fifteen exploratory wells are yet to be drilled in the region, and assuming Petrobras is able to declare commercial viability of that region, we could see the demand for additional rigs are rising. Now shifting gears to Southeast Asia, a region of particular interest was to the SSV Catarina. This region is clearly becoming the biggest growth market in the ultra-deepwater drilling, with Indonesia and India taking the hottest spot, so not a bad place to have a rig operating. In Indonesia, Mubadala is starting FID for the Tangguh gas development, with development really expected to commence next year. We see also other campaigns progressing, Mubadala South Andaman; Searah is the JV between Eni and PETRONAS, so Searah's multi-year North Ganal tender. PETRONAS Bobara Akbar-1 exploration well and impacts Abadi Masela LNG Project, besides Harbour Energy, who are in the market very simply looking for a floater. It's fair to say that Indonesia's opportunity remain mostly with Eni and its joint venture, Searah, which is advancing a multi-year deepwater drilling campaign across the North Kanal, and Rapak blocks, supported by a recently announced $6 billion financing facility. These developments will sustain the demand for drilling rigs, and we see that Catarina is very well positioned to continue to play an important role in the development of this important regional hub. As a matter of fact, the rig has been in the region for seven years now and continuously undertaking drilling and recover activities across multiple Eni blocks. So we feel positively about engaging further discussions with Eni about future opportunities for the rig in Indonesia and continuing the successful and long-term partnership. In India, we saw this quarter, Q2, starting with the disappointing news of the partial suspension of the ONGC five- rig tender process, which included the need for one DP3 semi. They have progressed, though, for one or more drillships and ended up getting one valid offer only, the Transocean's KG2. Despite this partial suspension of the original tender, the country reinforced since then its upstream growth agenda during the quarter through the approval of the Samudra Manthan offshore exploration project, which carries an approved outlay of approximately $8.8 billion and is designed to accelerate seismic deepwater and ultra-deepwater drilling. The initiative builds on recent reforms that opened previously restricted offshore areas to exploration, and is intended to reduce hydrocarbons import dependence. Early activity, including new ONGC deepwater drilling campaigns and ongoing licensing rounds, shows that India is becoming an even more relevant source of future offshore exploration demand, and the reviving of the original tender issued earlier this year is to be expected. In parallel to the ONGC tender, Oil India is also currently in the market for two drillships. Finally, on Africa, several ongoing tender processes point to a sharp recovery of that region, and rig count expected to rise by at least 20%. We have tenders in Namibia, Ivory Coast, Mozambique, Nigeria, and for different companies such as TotalEnergies, Eni, Shell, and ExxonMobil. All these opportunities amount to quite an auspicious scenario for a DP3 semi-submersible Catarina. Remaining Indonesia, where we've been since 2019, being a strong possibility, but relocating to India or Africa, where Ventura Offshore has operated in the past, also being attractive opportunities being actively pursued for the rig. That closes our presentation for Q2 2026, and as always, I couldn't close it without thanking our teams offshore and onshore for delivering such great results on both safety and uptime while maintaining our industry-leading cost structure. The recontracting of our rigs, extension with Eni, management services signed for the Deep Value Driller are all testimony to the great work the Ventura Offshore teams delivered. I also wanted to express my appreciation to our shareholders, partners, and customers for their continued trust in Ventura Offshore. With that, I close our presentation, and we will open for questions. As a reminder, questions are to be made in writing. Use the Q&A icon you can see on the top of your screen. Okay. Starting off, first question I have, Javier, just one second, please. Okay. Regarding the SSV Catarina, you mentioned one more well with Eni due year-end 2026. What is the day rate for this well, and are there any ongoing talks for further work with Eni into 2027? If not, how confident are you in securing a follow-on contract to avoid idle time in Q1 2027? As I mentioned, it is in the same terms and condition of the current contract, this additional well. Okay? Same day rate we currently have. Yes, we are in discussions with Eni. We are optimistic about finding future work with Eni in Indonesia. But as I mentioned just now, we're also looking at opportunities. We expect India to come back online, and we're also participating in opportunities in West Africa. Second question from Javier is: Following the recent ONGC tender semi-cancellation, is India completely ruled out for the Catarina, or do you see the negotiation tactic to suppress certain rig demand and day rate? I think I've addressed this. We believe ONGC is coming back to the market again after this announcement of the significant investment of $8.8 billion and the government directive to reduce their dependence on the hydrocarbons import. We believe that there will be further opportunities in India. We have operated in India with the Louisiana. We have operated for ONGC in India for Louisiana, so we do have the experience operating there, and we certainly do not rule out India. Third question from Javier is: Given reports of coastal activists seeking rigs, would you consider an outright sale of the Catarina if a fair market offer arises? We are always open to discussions. If a good offer comes up for it, we will also take a look at it. The rig is not for sale. That is very clear. We are very confident on future opportunities for work for the rig, but we do not close the door. We are always open for discussions. But again, this rig is not for sale and we remain confident on future work we will find for the Catarina. Next question I have also from Javier. He said, I have lots of questions, Javier. With Eldorado acquiring Vantage's management capabilities, is there a risk they internalize the Zonda's operations once the termination waiver expires in early 2028? I think this is highly unlikely. The contract with Petrobras is with Ventura Offshore. In our discussion with Eldorado and Vantage, the intention of all the companies is that we will carry on this contract until the end. We will see it through the end of the Zonda contract with Petrobras in Brazil. Javier: Can you categorically confirm, no, caps lock here, no delay request from Petrobras for the Carolina or SSV Victoria in January 2027? I did mention this in the call, and we have not been approached to Petrobras about any delays on the Carolina or the Victoria. Next call. Next, Marcus Monson: Do you see any specific CapEx requirements for the SSV Catarina assuming continued work in Southeast Asia? Marcus, that really depends on what this future work will be. The rig went through her SPS in early 2023. So she, from an SPS standpoint, should be suitable until 2028. Right? So that is when we would, in principle, stop the rig for work. Unless, of course, there are opportunities that justify stopping the rig and doing the test, like the earlier, doing contractual upgrades, if needed. So the answer to your question is that this is dependent on the next opportunity that materializes. I just, again, from a regulatory standpoint, yes, guess we could wait until 2028. Another question from Roberto Prestor: Could you elaborate further on the Deep Value Driller topic? The Deep Value Driller was a rig owned by the Deep Value Driller company, and it was variable chartered to Saipem. Saipem was operating this rig. Then Eldorado, the same owners of the Zonda, they purchased this rig. They purchased this rig, and they looked at us, we are operating the Zonda for them very successfully, very safely, to operate this rig for them. That is basically what we did. We signed contracts that are pretty much a mirror of what we have for the Zonda, also for the Deep Value Driller, to market and manage this rig for them. Once we signed those contracts, we started offering those rigs in a few ongoing tender processes. What has happened since is that Eldorado and Vantage, they merged, right? Our contract is valid for the ongoing tenders. But anything beyond, of course, the merger of those two companies, I am assuming that Vantage will be the one offering the rig, which makes sense. I hope this clarifies the question. Another question here from Javier. You have mentioned potential consolidation growth as one of the reasons for the two-step refinancing approach. Should we interpret that as preserving balance sheet capacity for potential acquisitions or fleet growth? Separately, how much of up to the $130 million CapEx of current inventory is already committed or spent? Are you still comfortable with that cost estimate? Starting from the second part of your question, as I have mentioned, we are not going to provide updates this time around. We are seeing, of course, fluctuations. Fluctuations are normal, right? But the numbers have not materially changed since what we have informed two or three months ago. We are going to see the Catarina arriving Guanabara Bay in about a week's time. That is when we are going to start to have a better visibility on the needs for the rig, possible saving opportunities, costs that were unforeseen, and that is what makes the fluctuation, which, again, is very normal in SPSs of this nature. Back to your first question about potential consolidation and growth as one of the reasons of two-step financing. That is correct. That has not changed. The reasons are threefold, basically. One is the potential opportunities for growth. Second is the projects themselves, right? I just mentioned about CapEx, potential CapEx fluctuation. So by Q4, we are going to have a significantly better visibility on how much money those projects will cost us, hence why we are going to be providing an update during Q3. The third one, we are also going to have better visibility on the Catarina going forward. These are going to be the drivers to determine how much money we are going to be looking for on the step two of our refinancing process. Another question here from Stefan Dietl. What are your current estimates for SPS cost for the Catarina, and what kind of contract would be needed to justify the investment? Stefan, I think I already answered this on the previous question. We do not know how much that is going to be because that is going to be highly dependent on the next contractual requirements that we will have for the Catarina. Again, we do not plan on doing an SPS on the Carolina before 2028 unless a contract opportunity arises. Any contractual opportunity brings their specific technical requirements that the rig may or may not comply with, and that may or may not require upgrades. The kind of contract that will justify the investment, an SPS has to be done due to regulatory reasons, right? An SPS is not contract-dependent. You have to do it every five years. What you do is you move your SPS, you bring it forward, or you push it further down the line, depending when the contract starts to avoid unnecessary idle time in the middle of a contract. I hope to have answered your question on that. There you go. Another question here. What is the size of the dividend you are thinking about for next year? A question from Sarit Constantine. Sarit, this is going to be dependent on factors and the refinancing, the visibility on the Catarina future inflow. But our intent is to distribute our free cash flow and dividend. 100% of the free cash flow that we generate starting 2027, our idea is to distribute that as dividend. Okay. A question from Fredrik, from Clarksons. Congrats on the solid Q2. Thank you. Can you talk a bit more in detail around the discussions you are having with Eni for a potential extension of the Catarina? Is this well-based term and how many months of works this work might be added if the discussions are successful? If discussions with Eni are not successful, is there a risk of downtime on the rig towards year-end or into Q1 2027? Or do other opportunities you are pursuing also give you potential of back-to-back work? Fredrik, as you would expect, there's not a whole lot I can disclose in terms of discussions that we're having with Eni. What I can say is that we are engaged in discussions because, again, Catarina has been doing a very good job for Eni. Eni is a very important field that they need to develop. They are now looking for two drillships. One drillship, I think it's to start not this year, the second one in 2028. So there is an opportunity for the Carolina to continue to contribute on the development of their fields. So we are optimistic about something coming up, but again, too early for me to provide you more detail. Of course, our intention is to keep the rig in direct integration. If there is a risk of some idle time, it's really going to depend on the outcome of those discussions, Fredrik. If there is some idle time, what we could potentially do is just bring forward our SPS so that you can have another five years of work without having to stop the rig again. But again, too early to give you more details on that. With regards to other opportunities, yes, we are looking at other opportunities because we had the rig is actively participating at least two other tenders. So it could be that we have you see the rig actually going somewhere else. Okay. The idea is always to try and avoid idle time. Okay, second question from Fredrik is with regards to the refinancing of the balance sheet, the bond structure makes it favorable to do it before year-end. On the other hand, I would understand that more visibility on CapEx and an update on Q3, as you alluded to, and opportunities for the Catarina will be helpful to right-size the new debt facility. Should they consequently think of the timing of the refi would be likely to be second half of the fourth quarter, or could it come earlier? Fredrik, I think by mid Q4, we are going to have a pretty good visibility, even before then, of the CapEx needs for both rigs. I think we could potentially see where we'll be in terms of growth opportunities, if there's anything coming down the pipeline or not. We might have some good visibility on the Catarina. So I do not necessarily see us changing the original plan of having our refinancing around mid Q4. I think we're going to have sufficient data to give us good comfort to go after the refinancing with the right numbers, as an objective. Okay, question from Javier. On the Carolina interdiction settlement, will the Q3 cash inflow be full $20.7 million in dispute? No. Absolutely not. The number was not $12.7 million, Javier. This would be considering the rig operating at 100% all the time for 60 days, right? I mean, not even in the budget we consider that. Okay. So the number we had accrued for the period in dispute was $5.3 million. And our Not our expectation, right? What we settled was $4.9 million. So these are the numbers that you're going to see in Q3 for the Carolina interdiction. So another question here from Roberto Prestor. How many tenders are you currently working on with the Deep Value Driller and which markets? Roberto, we're working in a few tenders. We do not comment on the tender processes while they are still occurring, right? But we are looking at more than one tender process for the Deep Value Driller. Okay. Okay, another question from Roberto. On the bond market, several Brazilian and international drillers have refinanced successfully in recent months, some cases at meaningfully tighter spreads. How do you assess the current window for Ventura refinancing, and does the recent issuance activity by peers change your view on timing? So Roberto, refer to the answer to the previous questions. They do not change our view. I think we have a sufficiently strong story, with over a billion-dollar backlog, contractual visibility 2029 all the way up to 2031, that we feel very constant about going to the market in Q4. We still think there will be a window open, but I think the fundamentals of Ventura, in terms of revenues, ability, gives us sufficient comfort to go to the market in successful refinancing exercise in Q4. And again, with the added benefit of knowing how much CapEx will be needed for the rigs, with the benefit of knowing whether any consolidation/growth opportunities are down the pipeline, and with the benefit of potentially having a better visibility on future work for the Catarina. Okay. There is a question here by Rafael Coby. Sorry to come back on this subject, but just to confirm my understanding. The marketing operations contract for the DVD was signed with Eldorado Drilling before the merger with Eldorado Drilling and Vantage Drilling. And now, given that Vantage Drilling has a marketing operations platform, there is a doubt that this will stay with Ventura. So to your first question, that's correct. The marketing and operations contracts for the DVD were signed with Eldorado Drilling before the merger with Vantage Drilling. Okay. Now, for the existing opportunities, the ones we are offering the rig, the rig will stay with Ventura Offshore, and Ventura will operate the rig. For future opportunities beyond or after the merger of the two companies, I can only assume that Vantage Drilling will be offering the rig. Right. I think that makes sense. So ongoing discussions that predate the merger, Ventura Offshore is offering the rig. For the opportunities after the merger, Vantage Drilling should offer the rig and operate. Okay, another question here from Javier. "What is a realistic, consolidated, effective tax rule of thumb we should assume for our 2027 models?" Marcelo? Javier, I'm going to tell you what we are considering country by country. Here for Brazil, the service contract for Petrobras, on the revenue 11.95%. Depending on your model, if you are calculating income here in Brazil, 34%. In Indonesia, you should consider 6% on the revenue. That's it. Thanks, Marcelo. A question from José Ruiz de Alda: When can we expect the refinancing to be announced?" Jose Luis, I think I've answered this already, but again, we're looking at Q4. I have another question from Javier here. If the Catarina only gets short-term work, how does that impact the late 2026 refinancing? Will the new debt structure still permit dividends without Catarina on a long-term contract? The answers are no and yes. It would not impact our plans for refinancing Q4. The new debt structure will still permit dividends without the Catarina. The answer is yes, even if you don't have a long-term contract for it. Okay, another question here from Javier. What is the quarterly breakdown of the remaining Victoria and the CapEx for April 2027? What percentage of this has been successfully deferred with vendors to post commencement? Javier, as mentioned, we are not going to provide additional details on the CapEx for both rigs in this call. Again, we're going to be having some further visibility around the Q3 call. That's when we plan to provide you guys additional color on the expected CapEx requirements for the projects. Again, what we can say is that the numbers today have not materially differed from the numbers we informed the market. Okay, one additional question. Given the market outlook in Brazil and the opportunities ahead, how likely do you see an increase in the number of third-party units Ventura could operate? Roberto, the outlook in Brazil, as mentioned, is of a stable market. Currently, we do not see necessarily an influx of more rigs into country. I think supply and demand is pretty balanced. However, that does not stop us from looking at, we like the business model that we actually pioneered here in Brazil with the Zonda of managing third-party units. You know, the Zonda has been a successful case. That's so much so that we are repeating that with the Deep Value Driller, and we will, of course, be more than open to repeat that with other assets, as long as, of course, the assets meet our standards of the asset integrity condition, so we can deliver to the customer what Ventura usually delivers. Okay. Okay, another question here. Alberto, on the two-step refinancing. Reference to potential consolidations, one of the elements requiring more visibility later in 2026. Without commenting on any specific transaction, can you explain how that fact influences debt financing structure or timing, and whether anything has actually progressed since Q1? And what happens to the plan if that visibility does not materialize? Roberto, this is opportunistic. Of course, I'm not commenting if anything materialized that has progressed, right? I mean, that goes without saying. But this is opportunistic, right? If that doesn't happen, it doesn't happen. And the refinancing plans carry on, right, without this element. We still have the CapEx requirements for the rigs, right, and we still have the Catarina. So the refinancing plans are unchanged. Now, would a potential consolidation or potential growth acquisition change how we go about refinancing? They could potentially change that, of course. It could change the nature of the refinance we are looking at. But a refinancing will happen on Q4, all conditions remaining as they are today. I'm not sure if that answers your question, but, I mean, I cannot really comment on whether anything has actually progressed since Q1 because I think it's inappropriate. But thank you for the question. I think that was the last question, and nothing more came up. So I wanted to once again thank you all for your interest in Ventura Offshore, for your questions, and for your continued support. And we'll talk again in August. Thank you very much. Have a great day. Thank you. And this concludes today's webinar. Thank you all for joining. You may now disconnect.