| Schedule of Segment Reporting |
The following tables present information on the Company’s reportable segments and other activities:
| | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | (Thousands of U.S. Dollars) | Colombia | Ecuador | Canada | Other | Total | | Oil, natural gas and NGL sales | $ | 118,136 | | $ | 41,964 | | $ | 27,081 | | $ | — | | $ | 187,181 | | | Operating expenses | 33,152 | | 6,196 | | 12,213 | | — | | 51,561 | | | Transportation expenses | 2,327 | | 1,182 | | 398 | | — | | 3,907 | | | Segmented earnings | $ | 82,657 | | $ | 34,586 | | $ | 14,470 | | $ | — | | $ | 131,713 | | | | | | | | | Other taxes | | | | | 1,389 | | Depletion, depreciation and accretion (“DD&A”) expenses | | | | | 62,334 | | | General and administrative expenses | | | | | 9,462 | | | Severance | | | | | 95 | | | Foreign exchange loss | | | | | 2,603 | | | Derivative instruments gain | | | | | (11,864) | | | Interest expense | | | | | 24,473 | | | Non-segmented expenses | | | | | 88,492 | | | | | | | | | Other income | | | | | 1,625 | | | Interest income | | | | | 503 | | | Income before income taxes | | | | | 45,349 | | | Income tax expense | | | | | 20,488 | | | Net income | | | | | $ | 24,861 | | | | | | | | | Segment capital expenditures | $ | 49,886 | | $ | 4,206 | | $ | 6,885 | | $ | — | | $ | 60,977 | |
| | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | (Thousands of U.S. Dollars) | Colombia | Ecuador | Canada | Other | Total | | Oil, natural gas and NGL sales | $ | 220,460 | | $ | 82,709 | | $ | 56,069 | | $ | — | | $ | 359,238 | | | Operating expenses | 68,194 | | 22,148 | | 27,368 | | — | | 117,710 | | | Transportation expenses | 4,599 | | 3,736 | | 875 | | — | | 9,210 | | | Segmented earnings | $ | 147,667 | | $ | 56,825 | | $ | 27,826 | | $ | — | | $ | 232,318 | | | | | | | | | Other taxes | | | | | 2,430 | | Depletion, depreciation and accretion (“DD&A”) expenses | | | | | 132,208 | | | General and administrative expenses | | | | | 44,287 | | | Severance | | | | | 2,563 | | | Foreign exchange loss | | | | | 4,028 | | | Derivative instruments loss | | | | | 76,546 | | | Interest expense | | | | | 74,351 | | | Non-segmented expenses | | | | | 336,413 | | | | | | | | | Other income | | | | | 2,773 | | | Interest income | | | | | 904 | | | Loss before income taxes | | | | | (100,418) | |
| | | | | | | | | | | | | | | | | | | Income tax recovery | | | | | (6,107) | | | Net loss | | | | | $ | (94,311) | | | | | | | | | Segment capital expenditures | $ | 70,759 | | $ | 19,952 | | $ | 11,806 | | $ | — | | $ | 102,517 | |
| | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | (Thousands of U.S. Dollars) | Colombia | Ecuador | Canada | Other | Total | | Oil, natural gas and NGL sales | $ | 109,692 | | $ | 8,495 | | $ | 31,170 | | $ | — | | $ | 149,357 | | | Operating expenses | 38,180 | | 4,122 | | 13,300 | | — | | 55,602 | | | Transportation expenses | 3,735 | | 441 | | 318 | | — | | 4,494 | | | Segmented earnings | $ | 67,777 | | $ | 3,932 | | $ | 17,552 | | $ | — | | $ | 89,261 | | | | | | | | | Other taxes | | | | | 577 | | Depletion, depreciation and accretion (“DD&A”) expenses | | | | | 68,635 | | | General and administrative expenses | | | | | 14,682 | | | | | | | | | | | | | | | Foreign exchange loss | | | | | 3,716 | | | Derivative instruments gain | | | | | (14,032) | | | Interest expense | | | | | 24,366 | | | Non-segmented expenses | | | | | 97,944 | | | | | | | | | Other income | | | | | 339 | | | Interest income | | | | | 251 | | | Loss before income taxes | | | | | (8,093) | | | Income tax expense | | | | | 4,648 | | | Net loss | | | | | $ | (12,741) | | | | | | | | | Segment capital expenditures | $ | 37,749 | | $ | 24,800 | | $ | 23,871 | | $ | 47 | | $ | 86,467 | |
| | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | (Thousands of U.S. Dollars) | Colombia | Ecuador | Canada | Other | Total | | Oil, natural gas and NGL sales | $ | 227,340 | | $ | 29,518 | | $ | 60,672 | | $ | — | | $ | 317,530 | | | Operating expenses | 80,670 | | 12,195 | | 29,827 | | — | | 122,692 | | | Transportation expenses | 6,946 | | 1,534 | | 565 | | — | | 9,045 | | | Segmented earnings | $ | 139,724 | | $ | 15,789 | | $ | 30,280 | | $ | — | | $ | 185,793 | | | | | | | | | Other taxes | | | | | 1,058 | | Depletion, depreciation and accretion (“DD&A”) expenses | | | | | 140,837 | | | General and administrative expenses | | | | | 26,091 | | | | | | | | | | | | | | | Foreign exchange loss | | | | | 7,554 | | | Derivative instruments gain | | | | | (12,565) | | | Interest expense | | | | | 47,601 | | | Non-segmented expenses | | | | | 210,576 | | | | | | | | | Other income | | | | | 287 | |
| | | | | | | | | | | | | | | | | | | Interest income | | | | | 676 | | | Loss before income taxes | | | | | (23,820) | | | Income tax expense | | | | | 8,201 | | | Net loss | | | | | $ | (32,021) | | | | | | | | | Segment capital expenditures | $ | 60,418 | | $ | 45,587 | | $ | 47,536 | | $ | 430 | | $ | 153,971 | |
| | | | | | | | | | | | | | | | | | | As at June 30, 2026 | | (Thousands of U.S. Dollars) | Colombia | Ecuador | Canada | Other | Total | | Property, plant and equipment | $ | 954,619 | | $ | 167,553 | | $ | 108,272 | | $ | 6,498 | | $ | 1,236,942 | | | All other assets | 164,168 | | 83,069 | | 42,518 | | 37,398 | | 327,153 | | | Total Assets | $ | 1,118,787 | | $ | 250,622 | | $ | 150,790 | | $ | 43,896 | | $ | 1,564,095 | | | | | | | | | As at December 31, 2025 | | (Thousands of U.S. Dollars) | Colombia | Ecuador | Canada | Other | Total | | Property, plant and equipment | $ | 935,351 | | $ | 176,003 | | $ | 185,226 | | $ | 7,840 | | $ | 1,304,420 | | | All other assets | 150,524 | | 55,313 | | 39,093 | | 36,729 | | 281,659 | | | Total Assets | $ | 1,085,875 | | $ | 231,316 | | $ | 224,319 | | $ | 44,569 | | $ | 1,586,079 | |
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