KGEI News & Events

Reports Q3 revenue $15.19M vs. 13.01M last year. KEI's President and CEO, Wolf Regener commented: "We are pleased that the Company continues to increase production, revenue and adjusted EBITDA as we execute our 2025 drilling program. Our production increased by 40% during the quarter and our adjusted EBITDA increased by 9% as compared to the Q3 of 2024. Our product mix was 66% oil during the third quarter and it increased to 71% in September due to the contribution of the higher percentage oil production from the Lovina wells. We are currently in completion operations on our last four wells for 2025 which we expect will start production in December. As we shifted the completion operations of our last four wells closer to the end of the year, we expect to exit the year with production at an all-time high. These latest wells will have the biggest impact in the Q1 of 2026 by increasing production and generating continued growth for the Company."

Kolibri Global Energy announced that the Toronto Stock Exchange has accepted a notice filed by the company of its intention to make a normal course issuer bid to purchase up to an aggregate of 1,768,841 common shares, being approximately 5% of the total number of 35,376,833 Shares issued and outstanding as at September 10, 2025, through the facilities of the TSX and the Nasdaq Capital Market or through alternative Canadian trading platforms. The actual number of Shares which may be purchased pursuant to the Bid will be determined by management of the company.

Kolibri Global Energy is pleased to provide an operations update on its latest wells in its Tishomingo field in Oklahoma. Lovina Wells: The initial thirty-day average production rate for the Lovina 9-16-1H well is 565 barrels of oil equivalent per day with 463 barrels of oil per day, the Lovina 9-16-2H is 629 BOEPD with 510 BOPD, the Lovina 9-16-3H well is 510 BOEPD with 413 BOPD, and the Lovina 9-16-4H is 428 BOEPD with 355 BOPD. The combined thirty-day production rates from the four wells is higher than our previously disclosed early initial production rates, with the 3H production rate increasing 22% and the 4H rate increasing 33% from those initial rates. The Lovina wells are continuing to produce much higher percentages of oil than many of our previously drilled wells, as they are only producing about 7% natural gas. The higher oil percentage and longer well lengths, combined with our controlled and conservative flowback, should lead to lower decline rates for these wells. Forguson Well: The Forguson 17-20-3H well is continuing to flow back the fracture stimulation fluid and is currently making about 160 BOEPD with 115 BOPD. As expected, the flowback is taking longer than our other wells in the field since this well is shallower. Only about 2.6% of the fracture stimulation fluid has been recovered, and the well has continued to improve as more fracture stimulation fluid is being recovered. As a comparison, the four Lovina wells have recovered between 7% and 10% of their fracture stimulation fluid. Kolibri is operator and has a 46% working interest in this well, which is testing the economics of our 3,000 acres that is located on the eastern side of our acreage. Barnes 6-31-2H and 6-31-3H Wells: Casing is currently being run in the Barnes 6-31-2H after which the rig will move over to drill the Barnes 6-31-3H well. These wells are both planned to be 1.5-mile laterals with Kolibri having a 100% working interest in both wells. Once the drilling of these wells is complete, completion operations are planned to be at the same time as with the previously drilled Velin wells. Wolf Regener, President and CEO, commented, "Operations on all fronts are proceeding well. The high oil percentage from the Lovina wells is expected to lead to higher netbacks for the Company and slower decline rates. For the Forguson well, we will continue monitoring the flowback and look forward to seeing the ultimate productivity of this well on our east side acreage. The east side acreage, where the Forguson well is located and Kolibri has approximately 3,000 net acres, is not included in the December 31, 2024, reserve report. The Caney target for the Forguson well has very similar characteristics and thickness as in the main part of the field in Kolibri's proved acreage, except that it is shallower. If the Forguson well proves to be economic, in addition to adding cash flow, it could lead to additional development locations for the company. We are looking forward to the additional production and cash flow from all of these wells, which we expect will significantly increase the Company's cash flow and add incremental value to our shareholders."

Average production for the second quarter of 2025 was 3,220 BOEPD, an increase of 3% compared to the second quarter of 2024 average production of 3,128 BOEPD. The increase was due to production from the wells that were drilled and completed in the last half of 2024, partially offset by decreased production from wells that were shut-in during the completion operations for the four Lovina wells, which temporarily reduced quarter production by 540 boepd.