01:03They've done deregulation, like getting rid of some price caps on crude there.
01:09So resounding, you know, election for him or I should say endorsement of him, what we saw in the midterm.
01:17What else would you like he and his administration to do?
01:24Yeah, Carol.
01:24So, yes, as you pointed out, I mean, stabilizing the macroeconomy, having access to the capital market is good news for Argentina.
01:32More of a country that have a lot of resources to be produced and where capital is one of the main elements that are important to continue accelerating the growth of Baca Muerta.
01:43What else we can do?
01:44I think there's one thing that we can do is to become more competitive.
01:48We are today, we have a rock that is fantastic.
01:53We have super productivities.
01:55You have seen the numbers of Vista.
01:58We have margins of EBITDAO around 65%.
02:00Nevertheless, the cost of a well in Argentina is still around 30 to 35% higher than the cost of a well in U.S.
02:08So being more competitive, that means deregulating the market, having less tax, better law, more flexibility, definitely could help for us to be more competitive.
02:22For Argentina, I mean, competitive means more investment, more production, more export, more proceeds for the country, more shop for our people.
02:30On the capital side of this, could the company now come to market with more global bonds or maybe even a follow-on equity offering?
02:38How are you thinking about financing?
02:40Well, we just released a plan that is fully funded.
02:46We are in a cycle.
02:48We are cash flow positive.
02:50We have the inventory of wells to drill.
02:53We have the equipment.
02:54We have four drilling rigs and two frag set.
02:59And we have the capacity to evacuate.
03:03We export around 60% of our production today.
03:06In 2008, we will export in 75% of the production.
03:10Vista is the main exporter of Argentina and the main independent producer of Argentina.
03:16So we don't really need to come to the market.
03:20But there are several companies from the industry that have come to the market last week due to the result of the election.
03:27And it's very positive for the industry that the rest of the industry can access to the market today.
03:32It clearly will accelerate the development of Vaca Muerta in Argentina.
03:36So I am also curious.
03:38Okay, so that would help Vaca Muerta.
03:41President Trump, as you know, is certainly an ally of President Malay.
03:48Helped him through a bad patch just a few weeks ago with a financial lifeline, right?
03:52We've reported that out.
03:54Everybody did.
03:54I am curious, in what ways do you think Argentina's close diplomatic ties with the United States, really President Trump, will help or impact the shale industry in your country?
04:06Now, look at, Carol.
04:08I mean, everything that helped to stabilize the macroeconomy of Argentina, and as I said before, to gain competitiveness, is good for the industry.
04:16So if Trump did that, it's good for the industry, it's good for the country.
04:22I would not comment politically.
04:25I don't have a political view on that subject.
04:29But anything that can help Argentina to stabilize the macroeconomy, for me, is welcome.
04:36Just 30 seconds left.
04:38I'm curious where shale fits into the picture of finally solving Argentina's economic problems.
04:42Just 30 seconds.
04:44Very much, Tim.
04:46So, I came back to the country in 2012.
04:49The trade balance of energy was minus 7 billion dollars.
04:52We will close this year plus 7 billion dollars.
04:56So, a swim of 14 billion dollars.
04:59And if we continue doing what we're doing, we are aiming in 2030 to have a surplus of 20 billion dollars.
05:06This is pretty much what we, Argentina, receive for the exportation of soya bean.
05:11And we are one of the main exporters on the world.
05:15And we're going to be looking for it.
05:16So, a little bit older.
05:16It's pretty much what we're doing.
05:17But if we are looking for it, a little bit more.
05:17Not going to be saying the first thing is going to be adding the limit.
05:18I've asked like a lot of minutes.
05:20A lot of times, if we aren't going to come in the middle of the world.
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