Operator

Good morning. Welcome, everyone, to the Tamarack Valley Energy Limited Conference Call and Webcast on Wednesday, May 6, 2026, discussing the recent Q1 2026 results press release. I would like to introduce today's speakers: Mr. Brian Schmidt, Founder and CEO; and Mr. Steve Buytels, President; and also Kevin Johnston, CFO.

[Operator Instructions] Mr. Schmidt, you may begin your conference.

Brian Schmidt
Founder, CEO & Director

Good morning, and thank you, Kelsey. Welcome, everyone, to our call to discuss our first quarter operating and financial results for 2026. My name is Brian Schmidt. I'm the CEO of Tamarack Valley Energy. Today, I'm joined with Steve Buytels, President; and Kevin Johnston, CFO. This morning, Tamarack announced its Q1 2026 results with continued operational momentum in the Clearwater.

This marked Tamarack's full -- first full quarter as core Clear water and Charlie Lake producer after non-core asset dispositions in 2025.

Kevin Johnston, our CFO, will discuss the first quarter financial highlights. Kevin?

Kevin Johnston
Vice President of Finance & Chief Financial Officer

Thank you, Brian. The first quarter of 2026 was a strong start to the year for Tamarack. Tamarack's first quarter production averaged 71,329 BOE per day, approximately 86% of which was oil and liquids. Corporate production grew 5% from the first quarter of 2025.

Tamarack's Clearwater assets produced 53,000 BOE per day in the quarter, a 19% increase year-over-year compared to 2025. Tamarack's Charlie Lake assets produced 18,100 BOE per day so far in the year, which was compared to 17,800 BOE per day in the first quarter of 2025.

Tamarack