British folk legend Michael Chapman turns 78 years old in January, but he’s not showing any signs of slowing down. Last year, he celebrated half a century working as a musician with the album 50, which he recorded with the young folk-rock guitar wizard Steve Gunn. And early next year, he’s coming back with another new album, True North, with Gunn once again producing and playing guitar.

Recorded at Mwnci Studios in rural West Wales with a band that included cellist Sarah Smout, pedal steel player BJ Cole, and fellow English singer-songwriter Bridget St John, True North will be out in February on Paradise Of Bachelors. And today, Chapman has shared lead single “It’s Too Late,” a fingerpicked portrait of regret.

In an interview with Billboard, where “It’s Too Late” premiered, Chapman explains that the song is “about regret, but not about a particular person — apart from me. Regret is pretty universal. How many times does that come around in life, right? So it’s just a little page out of my notebook — that’s how I see my songs, as a diary like that.” Listen below.

True North is out 2/8 on Paradise Of Bachelors. Pre-order it here.