 Good afternoon and welcome back to Investor Intel. Today we're talking with Don Simmons of Hemisphere Energy, a rarity in that it's a Canadian oil and gas company that's actively marketing itself these days. Mr. Simmons, welcome to Investor Intel. Thank you, great to be here. Some interesting events over the past few years out in Calgary and north up into Edmonton and Laduke. How have you fared? It's been survival through the last few years in the Canadian energy business but certainly things are looking better these days. There's more activity and certainly when we reflect that as a company we're certainly more active than we've been in the last two to three years. And apparently there's a lender out there who's very confident in you as well. There was a recent press release about a new credit facility you have. That's correct. We have done a strategic refinancing. We've taken out our traditional lender and it's given us access to additional capital to get out there more aggressive in the field and really get after our growth in our assets. So at this stage of the recovery period everyone's concerned about cash flow and debt levels. Are you happy with your degree of cash from operations versus your debt? I'm comfortable with this today in a $50 royal environment. And that's something that we look to improve as we drill and we add more production, more cash flow, more reserves. We'll see that debt to cash flow number come down more and more. Great. Where are your assets located? Assets are in southern Alberta, southeast Alberta just north of Messenham. And which geologic era do they date from? We target sands within the Manville group. That's the main zone that we target. That's a fairly common target? It is. Good. I also noticed Q2 production was about 600 barrels a day. Is that an increase or a decrease from Q1? That's an increase over Q1, a slight increase. And we have put out that through parts of Q3 that we've released we've seen as high as 700 BOEs a day. So we've been growing over the last year even though we've been limited in our activity. So nothing's guaranteed but it looks like you're going to be doing roughly the same as Q2 if not better? Correct. Excellent. Can you tell me both the management team? So important to Neuling Gas. Management team, yeah. We've got about 5-6 people here that are our main management team. We have all aspects from engineering to geology, both on the reservoir side and production side, drilling side. And then on our counting side. So it's a collective close-knit team. We've worked together now for a number of years. We're survivors through this downturn. And we're ready to get aggressive and grow through the next few years now that we have access to capital. So what does that growth look like? What are the milestones we should be looking for? Well, starting where we are today in that 6,700 BOEs a day, first milestone will be breaking through a thousand. That's a key number in our business and then we'll be working our way over the next two to three years to 2,000 and then on to 3,000 barrels a day is our goal. And you have a reserve report, of course? We do, yeah. Our reserves are done by McDaniel at Calgary and there's something that gets done once a year. And can you give us an idea of what that looks like? Yeah, last year our Peruvian plus probable reserves, there's about 4.5 million BOEs of reserves and it was a rough value, about 66 million dollars. Sounds like you're on track. Sorry, I cut you off there. Sorry, Don. That's okay. I was just going to say that value, 66 million is an MPV value at discounted about 10%. Which is fairly standard in the industry in Western Canada. Sounds like your position well to take advantage of any uptick in oil. We are. Our assets are low cost to drill and low cost to operate. So we make money in this $50 environment and if we can see 55, 60 over the next few years, it just adds to the bottom line. Your net back is around $20 a barrel? In Q2, it was just over $20 a barrel. So that does provide you with some cushion even if there's a negative movement in the oil price? That's correct. Excellent. Anything else we need to know? Well, we're active. Our last news release mentioned that we've commenced the drill program. We're looking at 6 to 7 wells out in our Atle Buffalo area. We will continue to update the market as we continue to have news coming from the field over the coming months. And it's a pretty exciting time. It's the most active we've been in since 2014 as a company. Are you seeing other junior companies starting to come out of hibernation as well? In some cases, it's not across the board. But there are a few more companies coming out and starting to be a little more active. Accessing some capital here and there, but it's not everybody. It's only a few companies right now. Let me check in with you in Q3 and see if you're hitting those milestones. Sounds good to me. I appreciate your time today. Have a good day. Thank you.