Ryan Ellson: I think the craft facility does repay fairly quickly. We’re amortizing that over 10 months. It’s fully repaid by August next year. So, we already have a fairly aggressive program on that as far as repayment. And then similar to this year, the first half capital program is going to be weighted towards the development program. So, as Rob mentioned, we started a rig in Acordionero and Costayaco ended — in December of this year. So, we expect quite a bit of CapEx in the first half of the year and then trail off somewhere this year, we’ll generate the free cash flow in the second half of the year. But we already — the worst case narrow that the facilities repaid fully by August of next year.
Josef Schachter: Okay. Second question, you’re talking here about success in two places in Ecuador. Are any of those wells on production? Or is this something that will come on in first half 2024?
Gary Guidry: Yes. We continue to produce about 1,200 to 1,500 barrels a day. We will continue producing throughout, we don’t ever anticipate stopping. We would be producing more today, but we’re collecting information on reservoirs. These are new discoveries. They’re very prolific wells and we’re quite excited. We’re quite excited about getting out and seeing just how big these are. We — you may have noticed that we deferred a couple of wells. We had some blockades we’re in Ecuador long-term. And so we’re working through what those blockades are about, and we shifted that capital in those wells back up to our Costayaco field, where we’ve had some really good results.
Ryan Ellson: And Joseph, our new slide deck too, we actually have a slide in there that just shows where the discoveries are along with the Suroriente extension, and the Rose discovery, which really shows the corridor of future growth highlights of where we are and what Gary is talking about.
Josef Schachter: Super. Last one for me. When do you expect to have your guidance for 2024 and CapEx budget, et cetera?
Gary Guidry: That will be after the New Year. We’re working through that now as a management team. We’ll be discussing that with our Board of Directors by the first, second week of December, and we’ll release that guidance after the first of the year.
Josef Schachter: Super. Thanks very much for everything, and again, congratulations.
Operator: Thank you. Our next question comes from the line of Oriana Covault with Balanz. Your line is now open.
Oriana Covault: Hi. Thanks for taking my question. This is Oriana Covault with Balanz. I just had two quick follow-ups. The first one with regards to the extension of the Suroriente agreement. We noticed that there is a shift in your working interest at least after 2024, it will be going down to 47%, so from the current 52%. So just any color or thoughts that you can provide in terms of this Suroriente agreement and the cash consideration that you paid?
Ryan Ellson: And yes, that is — on that, it was really a negotiation, and so that was what we negotiated. And coupled with that, though, if you look at the OpEx right now, [indiscernible] pay $6 per barrel, now that will increase to a maximum of $11. So there’s some give and takes in the negotiation.
Oriana Covault: Got it. Understood. And just one last follow-on on clarification. Was this negative start the restricted payment basket for dividend payment? Was it clear disposal to change transaction that you carried through last quarter? Yeah. Just thinking on the restricted payment basket and proposal uses for dividend payment you’ve seen potential free cash flow generation? Was I clear, or there’s restriction as I say?
Ryan Ellson: Yeah, there are restrictions still. And so really, if we meet certain criteria, and that’s based on free cash flow generation, net debt to EBITDA under 1.5 times than the maximum that we can have for restricted payments. In our case, which would be share buybacks, not dividends would be $50 million per annum, which doesn’t roll forward and then also a general basket per annum of $10 million.
