Are you watching ProActive? I'm joined by Wolf Reggener. He's the CEO of Calibri Global Energy. Wolf is very good to meet you. If you're not familiar with the company, tell us a little bit about Calibri and what you do. We're an oil and gas exploration and production company. Our main asset is in Oklahoma. We're produced mainly oil from shale. So we're about halfway between Dallas and Oklahoma City in Oklahoma. And we've got about 32 million barrels of approved reserves and 54 million barrels of approved and probable reserves. We're surrounded all by Exxon all around us. And yeah, we're shooting to produce about between 32 and 3700 BOE a day on average for the 2024 year. So this is all coming from the Tishomingo field and that's in the Ardmore Basin in Oklahoma. Tell us a little bit more about the location that you're situated in. Yeah, so we're in the Ardmore Basin. It's the southern part of people know much about oil and gas. In Oklahoma, there's the scoop and stack plays. We're in the lower part of what's called the scoop play. As I mentioned, we're surrounded by Exxon, other operators to the north east of us, northwest of us. And we've been developing this for a number of years. We originally developed what was called the Woodford shale here, which was quite gassy. It was only about 15% oil when we were producing it. We sold that to Exxon back in 2013 but held on to the rights of this little shallower formation that we started completing and they didn't want to pay us what we felt it was worth. And so I'm glad that we held on to that because that's what has generated this now. And that's why we have 74% of our production now as oil coming out of this shale. So that's basically transformed us from a natural gas company into an oil and gas company or more oil company, I should say. I mean, well, if you touched on some of your production targets for the year and you arrived your second quarter results just over a month ago, production for the quarter up 30%, revenue up 38%. So maybe take us through what you're expecting on the financial side for the full year. Yeah, so our revenue, we're expecting 57 to 62 million. That's the range that we've given so far. Our adjusted EBITDA so much we're making is between 43 and 48 million is what we forecast. And that's with on a capital expenditure side of things of 33 to 39 million. So we'll actually have some money left over. One of the things that we've done is over the years, we've been able to increase our EBITDA nicely. So we were at six and a half million in EBITDA back in 2021. 2022, we had moved that up to about 25 million. 23, we've moved that up to 39 million. And so again, the forecast this year, nice growth from 43 to 48 million. For the year. So with that extra earnings that we're getting out of the Wells versus our CapEx is only 33 to 39 million. We'll actually have some money left over. And so we have just announced that we're looking to do some share buybacks that return some capital to shareholders now. We're just getting into that growth cash flow mode of the company. Wolf, you also announced a couple of weeks ago that you finished drilling the first of three long natural Wells production from your fourth quarter production coming in. Tell us about those Wells. Why long natural Wells? So thank you for asking that. It's erupt until now. These are all horizontal Wells. So we drill down to between eight and 10,000 feet. And then we turn the well laterally and we've been drilling about one mile laterals. Now these were our first Wells that are a little bit longer than that. They're about a mile and a half laterals. So we've been really focusing on efficiency out here where, you know, eight years ago, we were drilling Wells in, you know, 30 days. Got that down to 20 days, four years ago or so. And in the last year, our last four Wells for one mile laterals, we got down to 12 days drilling. For that's just drilling and putting the casing in the ground, not completing the well. But for these mile and a half laterals, it only took us 14 days. So we get an extra 50% of our productive interval with only two extra days of drilling. So the more you can do quicker, cost you less money is more efficient. So if we can get more out of the well for less money, we're making more money for barrel out of the ground. And this, we should be much more efficient and the value of the property will go up too, hopefully. Well, so what's next for Calibri? We're currently in the process of completing these Wells, these longer laterals that we just announced. There's three of those to go with the 32 Wells that we have on production already from the existing field. Looking to evaluate that, see how much more economic that is. And then that should hopefully be reflected in our year and reserve report, which puts our evaluation out again. And then next year, just keep drilling Wells. And as I mentioned, we're getting more into a cash flow situation where we'll have excess cash, doing well presses, do well still. But in this range, we can still make nice money here. And then we're going to evaluate how much more we start increasing it to grow the company further, or if we just do a small increase and then return more money to the shareholders. Good news for the shareholders, Will. Thank you very much for speaking with us today. I hope you'll keep us posted on any progress you make. Thank you very much. Appreciate your time. Very welcome. Wilf Reganar is the CEO of Calibri Global Energy.
