Ann: Sept 2022 Quarterly Activities and Cash Flow, page-10

Capex isn't just going to maintain production but to increase production short and long term - the base is increasing. This time next year we will be averaging 5000 boepd , perhaps a lot higher, and once reach a level where just need to maintain production, capex will fall significantly.

Additional $8m cash last 3 months after paying a dividend and some buyback. That's a great result for me.

$26m FCF without hedge for 2022 and forecast $40m-$50m FCF in 2023. These wells will be producing for many years.

Bring on 2023 and Montney!