Good day, and welcome to the Calibri Global Energy's third quarter 2026 financial conference call. All participants will be in a listen-only mode. Media may monitor this call in a listen-only mode. They are free to quote any member of management, but are asked to not quote remarks from any other participant without that participant's permission. If anyone has any trouble and needs any assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I advise participants that this conference is being recorded today, November 13th, 2026. This call will be available on the company's website at www.glibrienergy.com. Here is a disclaimer. This call may include forward-looking information regarding Glibri's strategic plans, anticipated production, capital expenditures, exit rates, and cash flows, reserves, and other estimates and forecast. forward-looking information is subject to risks and uncertainties and actual results may vary from forward-looking statements. This call may include future-oriented financial information and financial outlook information which Colibri discloses in order to provide readers with a more complete perspective on Colibri's potential future operations and such information may not be appropriate for other purposes. for a description of the assumptions on which such forward-looking information is based and applicable risks and uncertainties in Colibri's policy. For updating such statements, we direct you to Colibri's most recent annual information form and management's discussion and analysis for the period under discussion, as well as Colibri's most recent corporate presentation all of which are available on Colibri's website. Listeners should not place undue reliance on forward-looking information. Colibri takes no obligation to update any forward-looking, future-oriented financial or financial outlook information other than as required by applicable law. I would now like to turn the call over to Mr. Wolf Regener, the President and CEO of Colibri Global Energy Inc. Please go ahead, sir.

Thank you, and thank you everyone for joining us today. With me on today's call is Gary Johnson, our Chief Financial Officer. As hopefully everyone has seen, we released our third quarter 2026 results this morning, and if you've looked at them, then hopefully you'll agree that it was a very solid quarter. Gary will go into the financials, but I'll speak a little bit to the operations side of things. We've accomplished quite a few things in the third quarter. In the quarter, we completed the three Clifton Mack wells and started slowbacks right at the end of the quarter. So the production from those wells realistically started in the fourth quarter. And we'll have the benefit of that in the fourth quarter and on. Also in the third quarter, we finished drilling the Lovina 8-5-1 HF well, excuse me, which is our first test of the false candy formation. This well was completed in October and you've all hopefully seen the results we put out a few days ago about this well. We're really excited that the Lumina well is performing so well from this new interval. It's always great to have a good well, but it's even better when it's coming from a previously untested interval and it goes so well. We'll continue to monitor the well, but it really is looking good and strong. The interval is present over most of our property, and since our reserve report includes no false caning reserves so far, this will hopefully perform as we expect it to, and then will be a material catalyst for the company and lead to meaningful increases in our reserves and in turn value for our shareholders. With these wells coming on production, our current production rate is around 5,700 BOE a day, giving us some strong production, and that actually doesn't include a few wells that we're doing some work on right now. Now with that, I'll turn the call over to Gary to discuss our financial results.

Thanks, Wolf, and thanks for everyone on the call. I'm just going to go over a few highlights of the quarter and September year-to-date results, and then we can take questions at the end. All amounts are in U.S. dollars unless otherwise stated. I'll start with the third quarter comparisons. Revenue was up 22% to $18.3 million in the third quarter of 26 due to higher prices, which were up 34%, partially offset by lower production. Average quarterly production was $3,876 daily per day, which was down 9% compared to the prior year quarter due to shut-in wells during the quarter, as well as normal decline since the new wells didn't start producing until the fourth quarter. As we mentioned in our earnings release, our current production is approximately 5,700 BLE per day with Albany Walls Online. Adjusted EBITDA was 13.3 million compared to 11.1 million in the prior quarter, which was an increase of 20% due to higher revenue, which was partly offset by an increase in operating expenses due to the increase in production and a realized loss on our commodity contracts. Our net income was flat from the third quarter at $3.6 million with basic EPS of $0.10 for both periods. This was due to the higher revenues being offset by a non-cash market-to-market adjustment of $2.4 million on our commodity contracts. Net back from operations increased 41% to $42.48 per BOE compared to $30.84 in the prior quarter due to the higher prices. and the netbacks including our commodity contracts increased 31% to $40.55 for BOE. Operating expense was $8.39 for BOE for the quarter compared to $7.37 for BOE in the prior third quarter, which was an increase of 14%. The increase was primarily due to higher severance taxes from the higher prices, workover costs on a non-operated well and higher chemical costs. Now I'll move on to the year-to-date September results. Revenue was up 43% to $16.4 million compared to $42.1 million in 2025 due to higher prices, which increased by 24%, and higher production. Average production was up 15% to 4,412 BOE per day for the nine months ended September 26 compared to 3,851 in the comparable prior year period. due to the wells that were drilled and completed at the end of 25. Adjusted EBITDA increased by 41% to $44.6 million compared to $31.6 million in 2025, which was due to the increase in revenues, which were partially offset by high operating expense due to the increase in production and a realized loss on hedges. Net income was $16.1 million with basic EPS of 45 cents per share, which compares to $12.2 million and $34 cents per share last year. The 31% increase was due to the higher revenue partially offset by higher depreciation and operating expense from the increase in production as well as realized and analyzed losses on commodity contracts. Net back from operations increased 27% to $41.85 per DOE compared to $32.86 last year due to the higher average prices. and the net back including commodity contracts increased 21% to $39.79 a billion compared to $32.91 last year. Operating expense was $8.43 per billion for the year to date September compared to $7.20 in the prior year quarter. And that was due to higher severance taxes, higher prices, work over costs on non-operated well and also higher chemical and water hauling costs. In October, our credit facility was indeterminate at the same $75 million borrowing base, and our net debt at the end of the quarter was $15.4 million, and we had $19.5 million of available borrowing capacity. And with that, I'll hand it back to Wolf.

Thanks, Gary.

As Gary laid out, we had a good, solid quarter. In addition, and as I said at the beginning of the call, I'm also really excited to continue the growth that we've had, and it looks like we have increased our drilling runway nicely. We believe that with a great production from our first salt caning well, while it's early in its production life, it really opens the door to many more locations, reserves, and thus further value creation for all shareholders. And that is what I believe we are here to do. We'll be looking to drill additional wells for our future development plans. We focused on both continuing the caning development, but also developing these other benches that we have where we have not been given any credit in our reserve reports yet. Our current production of about 5,700 BOE a day, especially with the oil prices being where they are, is a strong result into the year end and should also lead to strong cash flows extending into the next year. It provides a lot of flexibility for the company. Looking forward to exciting times ahead for our company, and I hope you are as well. This concludes the formal part of our presentation, and we'd be happy to answer any questions you may now have.

We will begin the question and answer session. To ask a question, you may press star, then one on your touch-tone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star and then two. Our first question comes from Steve Ferrandini with Sedoti. Please go ahead.

Morning, Wolf. Morning, Gary. Appreciate the detail on the call. Wolf, I did want to start off by asking you about the healthy production out of the Falls Caney well. I wanted to get your initial reaction. I mean, my thoughts here was one that was a slightly shorter lateral than planned, so those numbers look very healthy, and the really high oil content you've seen so far. First reactions on it and thoughts on how it might influence your future drilling program.

Yeah, without a doubt. We're very pleased by what it is. And, you know, if you extrapolate out to normal two-mile laterals that we can probably drill out here for these wells, those would be healthy high key rates.

Yeah, yeah.

Assuming the same barrel per foot, right? So, but even as it stands, we're very happy with what we've seen so far. It's been strong. It's been steady. And I've got zero complaints about this well. It's what we had hoped for. And like one of our shareholders had said to me that said, You know, this is fantastic. You really hit it out of the park with it. And then I said, yeah, it says early days on it, but it looks really strong. So I don't expect any negative surprises or anything. So yeah, it's been great.

Does this, I know you've talked before this, you drilled this well, that was part of a sort of change, if not change in strategy, but just to start drilling sometimes within the other benches that you have, which could certainly drive reserves. This clearly supports those efforts. How are you thinking about how you incorporate other benches, including obviously the Falls Caney now, into your drilling program and how this might influence it, I'm guessing positively?

Absolutely. It definitely opens up this new bench, in our opinion, over hopefully a large section of our acreage. We won't get reserve reports of credit for it right away, but I think we'll grow into that without an issue. And like I said, the first one is always the hardest. to go. We also have the G-Zone still down below us that we know works well. We have multiple benches that are approved that are not approved to have a reserve report yet. So we'll definitely be incorporating drilling those at the same time with drilling along with Arcani and developing everything together. Excellent.

On the third quarter release, production came in a little bit ahead of where we were. I know you had the four shut-in wells. The only number that's What surprised me was the quarter was a little bit more gassier than we were expecting. Was that related to the shut-ins? I know you were getting some higher gas levels from the new wells, but I'm guessing that's not what drove that number.

Yeah, no, that's not what drove that number. And, yeah, we did have some shut-ins on a couple wells that could have twisted that a little bit. But nothing major. I mean, obviously the new wells are quite gassy. and we'll see where they end up. got the fresh fluid completely off of it. The oil percentages went up. So we'll see how that goes. But, you know, they're strong, healthy, well still, even if they're gassier for us right now. And it's isolated to that southwest corner, right? So, you know, I've said that before, but in the rest of the field, we don't see, you know, higher gas rates at all.

Got it. That's helpful. In terms of where you are with production now, I'd be clearly on pace to set another quarterly production record, all things continuing the way they are in 4Q. In terms of where you were with the guidance you provided earlier in the year, are you still comfortable with that range given how we've gotten through 4Q so far?

Yeah, I think so. I think we'll be within that range, probably a little out in the lower end just because and David Weld came on a little bit later than we anticipated. Later, yeah. So, that affects that. So, but, yeah, we should be in that ballpark.

Got it. Got it. Any kind of thoughts on, I know we're early and there's a lot of potential global changes to impact to WTI prices, but any thoughts around, you have the really healthy balance sheet. It's supported by, you know, now another record in production. How that can impact how you're thinking about the drilling program for 27?

Were we too early? Yeah, so we like, I mean, we're going to have some good conversations with our board as far as options that we have, right? So, you know, maybe besides we are, we can accelerate or decelerate pretty quickly. and so we'll put some plans in place based on an agreed upon oil price but we'll have plan B and plan C as well for higher or lower prices and so we can just make adjustments for that and I don't think anyone can figure out where the oil price is going to be right now so we'll definitely have a minimum that we're going to drill and then hopefully it's going to be a whole lot more than that.

with the balance sheet gives you far more flexibility to make those decisions.

Without a doubt, like you said, our debt to EBITDA, keeping it down low, we've got a lot of room to run. Even if we wanted to take on some additional debt, we could. And that's not the current plan right now, but we do have the ability to do that. And our reserve report, our redetermination, I should say, went well. And we didn't expect anything differently. I don't think we're pushing the limit of what we could take there as well. Got it.

Got it. Thanks, Wolf. Thanks, Gary. Absolutely. It's good to be here for you.

This concludes our question and answer session. I would like to turn the conference back over to Wolf Regener for any closing remarks.

I just want to say thank you, everyone, for being here today and listening. And thanks, everyone, for their support to those shareholders. And if you're not a shareholder and are stocked down a little bit today along the rest of the market, take a look. Anyway. have a great day everyone and I appreciate it.

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.