Operator

[Audio Gap] plc Q1 2026 Results Investors and Analyst Call. My name is Seb, and I'll be the operator for your call today. [Operator Instructions]

I will now hand the floor over to Yaniv Friedman, Executive Chairman, to begin the call. Please go ahead.

Yaniv Friedman
Executive Chairman

Thank you, Seb. Good morning, everyone. Thank you for joining our Q1 2026 results presentation. I'm Yaniv Friedman. I'm the Executive Chairman of Ithaca Energy plc. With me on our call today is Luciano Vasques, our CEO; and Iain Lewis, our CFO. A strong Q1, as the first slide says, delivering on our strategy. And in today's agenda, we'll cover our Q1 2026 highlights, strategic and operational highlights and financial highlights. And as always, we'll close with Q&A.

If you'll move to Q4 -- if you'll move to Slide 4. So our capital allocation policy supports our attractive shareholders' return. So what we wanted to show is how this plays into this quarter. As mentioned, strong production, robust production that is supporting strong cash flow generation, and we're seeing the strong performance trending into Q2 -- in Q1, 126,000 barrels a day of production.

We took a hard look in optimizing and accelerating activity across our portfolio in this elevated commodity price environment. So that's been a focus of the business in the past few