{"id":800365,"date":"2025-01-14T06:48:03","date_gmt":"2025-01-14T11:48:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kolibri-global-energy-inc-provides-2025-guidance-with-a-forecasted-increase-of-more-than-35-percent-to-adjusted-ebitda-and-more-than-38-percent-to-average-production-over-2024-guidance\/"},"modified":"2025-01-14T06:48:03","modified_gmt":"2025-01-14T11:48:03","slug":"kolibri-global-energy-inc-provides-2025-guidance-with-a-forecasted-increase-of-more-than-35-percent-to-adjusted-ebitda-and-more-than-38-percent-to-average-production-over-2024-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kolibri-global-energy-inc-provides-2025-guidance-with-a-forecasted-increase-of-more-than-35-percent-to-adjusted-ebitda-and-more-than-38-percent-to-average-production-over-2024-guidance\/","title":{"rendered":"Kolibri Global Energy Inc. Provides 2025 Guidance With a Forecasted Increase of More Than 35 Percent to Adjusted EBITDA and More Than 38 Percent to Average Production Over 2024 Guidance"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwdoublebottom { border-bottom: double black 2.25pt }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadb4 { padding-bottom: 5px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth100 { width: 100% }\n.bwwidth12 { width: 12% }\n.bwwidth32 { width: 32% }\n.bwwidth33 { width: 33% }\n.bwwidth44 { width: 44% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Kolibri Global Energy Inc. Provides 2025 Guidance With a Forecasted Increase of More Than 35 Percent to Adjusted EBITDA and More Than 38 Percent to Average Production Over 2024 Guidance<\/b><\/p>\n<p>THOUSAND OAKS, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nKolibri Global Energy Inc. (the \u201c<b>Company<\/b>\u201d or \u201c<b>Kolibri<\/b>\u201d) (TSX: KEI, NASDAQ: KGEI) is providing 2025 guidance for its Tishomingo field in Oklahoma.<\/p>\n<p>\nThe Company is providing its forecasted guidance for 2025 as follows:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<p class=\"bwalignc bwcellpmargin\">\n2025 Forecast<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n% Increase from<br \/>\n<br \/>2024 Guidance Range<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl1 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage production<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n4,500 to 5,100 boepd<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwwidth33 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n38% to 40%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl1 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevenue<sup>(1)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nUS$75 million to US$89 million<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwwidth33 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n32% to 44%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl1 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted EBITDA<sup>(2)<\/sup><\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nUS$58 million to US$71 million<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwwidth33 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n35% to 48%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl1 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCapital expenditures<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nUS$48 million to US$53 million<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl1 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet Debt at year end<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nUS$25 million to US$30 million<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl1 bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDebt to EBITDA Ratio<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nBelow 1.0<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc bwvertalignb bwwidth33\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadr0 bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(1)<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nAssumptions include forecasted pricing for 2025 of WTI US$70\/bbl, US$2.60 Henry Hub, and NGL pricing of US$28\/boe and includes the impact of the Company\u2019s existing hedges.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadr0 bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n(2)<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nAdjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled \u201cNon-GAAP Measures\u201d of this news release<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe strategy of the Company for 2025 is to further build on the success we have had for the last few years. This includes continuing cash flow growth, developing the Company\u2019s reserves, returning capital to shareholders, and testing the economics of nonproven areas.<\/p>\n<p>\nBased on the successful results of our first three 1.5-mile laterals, we have designed a new full field development plan consisting mainly of 1.5 and 2-mile laterals. The Company\u2019s current plan anticipates bringing nine wells on production this year. Kolibri plans to drill and complete four 1.5-mile lateral wells (100 percent working interest) from one pad in the second quarter, drill two additional 1.5-mile lateral wells in the second half of the year (99.9 percent working interest), and then fracture stimulate these wells together with the two 1-mile lateral Velin wells (96.7 percent working interest) that the Company had previously drilled.<\/p>\n<p>\nThe ninth planned well, the Forguson 17-20-3H well, will be drilled to test the economics of the Caney Formation on the Company\u2019s eastern acreage. Kolibri will operate and have a 46% working interest in this well, as a large integrated oil company has elected to participate and is expected to be drilled late in the 2<sup>nd<\/sup> quarter. The Caney target on the eastern side has similar characteristics and thickness as in the heart of Kolibri\u2019s proved acreage in the main part of the field, except that it is shallower.<\/p>\n<p>\nKolibri has approximately 3,000 net acres on its east side acreage. All of the eastern acreage is currently classified as contingent resources by Kolibri\u2019s independent reservoir engineering firm, as no well has been completed in the Caney on this acreage. If the Forguson well proves to be economic, in addition to adding cash flow, it can lead to many additional development locations for the Company.<\/p>\n<p>\nWolf Regener, President and CEO, commented, \u201cWe are excited to forecast another strong year of growth in 2025, which builds upon the tremendous growth we have already experienced in the last three years. The average production, revenue, and adjusted EBITDA guidance for 2025 again show significant growth from the 2024 forecast numbers, even with a US$70 WTI price assumption. The Company intends to continue repurchasing shares and has, to date, repurchased approximately 280,000 shares.<\/p>\n<p>\n\u201cThe Company\u2019s strong balance sheet and our conservative price forecast allows us the ability to adjust the timing of the wells planned for the second half of 2025 based on the price of oil and the performance of the wells.<\/p>\n<p>\n\u201cI am also looking forward to testing the economics of our east side acreage as a successful Forguson well would add additional drilling locations and reserves. A successful drilling campaign on the east side acreage could add significant additional shareholder value.<\/p>\n<p>\n\u201cI\u2019m very proud of our team\u2019s execution this past year. Our 1.5-mile lateral wells were drilled safely and quickly with an estimated all-in well cost averaging less than US$6.3 million per well. In addition, the wells we drilled in 2024 were almost all classified as possible locations by our independent reservoir engineering firm on our year end 2023 reserve report. We are looking forward to the new reserve report, which will incorporate the wells we drilled, including the longer laterals, and which we anticipate will lead to increases in our reserves value.\u201d<\/p>\n<p><b>NON-GAAP MEASURES<\/b><\/p>\n<p>\nAdjusted EBITDA is not a measure recognized under Canadian Generally Accepted Accounting Principles (&#8220;<b>GAAP<\/b>&#8220;) and does not have any standardized meaning prescribed by IFRS. Management of the Company believes that Adjusted EBITDA is relevant for evaluating returns on the Company&#8217;s project as well as the performance of the enterprise as a whole. Adjusted EBITDA may differ from similar computations as reported by other similar organizations and, accordingly, may not be comparable to similar non-GAAP measures as reported by such organizations. Adjusted EBITDA should not be construed as an alternative to net income, cash flows related to operating activities, working capital, or other financial measures determined in accordance with IFRS as an indicator of the Company&#8217;s performance.<\/p>\n<p>\nAn explanation of how Adjusted EBITDA provides useful information to an investor and the purposes for which the Company\u2019s management uses Adjusted EBITDA is set out in the management&#8217;s discussion and analysis under the heading \u201cNon-GAAP Measures\u201d which is available under the Company&#8217;s profile at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedarplus.ca&amp;esheet=54179069&amp;newsitemid=20250114480489&amp;lan=en-US&amp;anchor=www.sedarplus.ca&amp;index=1&amp;md5=e5120c14ae9ecec4494473b39b9d741f\">www.sedarplus.ca<\/a> and is incorporated by reference into this news release.<\/p>\n<p>\nAdjusted EBITDA is calculated as net income before interest, taxes, depletion and depreciation and other non-cash and non-operating gains and losses. The Company considers this a key measure as it demonstrates its ability to generate cash from operations necessary for future growth excluding non-cash items, gains and losses that are not part of the normal operations of the Company and financing costs. The following is the reconciliation of the non-GAAP measure Adjusted EBITDA:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>(US $000)<\/i><\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three months ended<br \/>\n<br \/>September 30,<\/b><\/p>\n<\/td>\n<td class=\"bwalignc bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Nine months ended<br \/>\n<br \/>September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<td class=\"bwalignc bwwidth1 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2023<\/p>\n<\/td>\n<td class=\"bwalignc bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<td class=\"bwalignc bwwidth1 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2023<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet income<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,066<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,319<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,472<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14,483<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome tax expense<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,646<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,288<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDepletion and depreciation expense<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,611<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,790<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,205<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,503<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccretion expense<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n46<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n40<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n135<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n129<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest expense<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n839<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n651<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,567<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,511<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnrealized (gain) loss on commodity contracts<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,341<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,579<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(871<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n412<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nStock based compensation<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n268<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n157<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n807<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n531<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther income<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(60<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nForeign currency (gain) loss<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwpadl0\" rowspan=\"1\" \/>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwpadl0\" rowspan=\"1\" \/>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwpadl0\" rowspan=\"1\" \/>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"2\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth44 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted EBITDA<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10,136<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1 bwdoublebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9,536<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n30,546<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1 bwdoublebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n28,578<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>About Kolibri Global Energy Inc.<\/b><\/p>\n<p><i>Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil and gas. The Company&#8217;s shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the NASDAQ under the stock symbol KGEI.<\/i><\/p>\n<p><b>Product Type Disclosure<\/b><\/p>\n<p>\nThis news release includes references to sales volumes of &#8220;oil&#8221;, &#8220;natural gas&#8221;, and \u201cbarrels of oil equivalent\u201d or \u201cBOEs\u201d. \u201cOil\u201d refers to light crude oil and medium crude oil combined, and &#8220;natural gas&#8221; refers to shale gas, in each case as defined by NI 51-101. Production from our wells, primarily disclosed in this news release in BOEs, consists of mainly oil and associated wet gas. The wet gas is delivered via gathering system and then pipelines to processing plants where it is treated and sold as natural gas and NGLs.<\/p>\n<p><b><i>Cautionary Statements<\/i><\/b><\/p>\n<p>\nIn this news release and the Company\u2019s other public disclosure: The references to barrels of oil equivalent (&#8220;Boes&#8221;) reflect natural gas, natural gas liquids and oil. Boes may be misleading, particularly if used in isolation. A Boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves.<\/p>\n<p><i>Readers should be aware that references to initial production rates and other short-term production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate recovery. Readers are referred to the full description of the results of the Company&#8217;s December 31, 2023 independent reserves evaluation and other oil and gas information contained in its Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information for the year ended December 31, 2023, which can be accessed electronically from the SEDAR website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedarplus.ca&amp;esheet=54179069&amp;newsitemid=20250114480489&amp;lan=en-US&amp;anchor=www.sedarplus.ca&amp;index=2&amp;md5=58c7b02ffc5e848fb3ab68198ffe6cdd\">www.sedarplus.ca<\/a>.<\/i><\/p>\n<p><b><i>Caution Regarding Forward-Looking Information<\/i><\/b><\/p>\n<p><i>Certain statements contained in this news release constitute &#8220;forward-looking information&#8221; as such term is used in applicable Canadian securities laws and \u201cforward-looking statements\u201d within the meaning of United States securities laws (collectively, \u201cforward-looking information\u201d), including statements regarding the timing of and expected results from planned wells development, projected average production, revenue and Adjusted EBITDA for 2025, projected total capital expenditures, net debt and debt to Adjusted EBITDA ratio for 2025, the Company\u2019s strategy for 2025, returning capital to shareholders in 2025, the addition of significant additional reserves and adding more shareholder value. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company&#8217;s technical team at the date the data is provided and is subject to several factors and assumptions of management, including forecasted pricing in 2025 of WTI US $70\/bbl, US $2.60 Henry Hub and NGL pricing of US $28\/boe, that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator\u2019s operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the price of oil will be sustained or increase, that the Company will continue to be able to access sufficient capital through cash flow, debt, financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company&#8217;s business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward-looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays, labor or contract disputes or shortages of equipment, labor or materials are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator\u2019s operations have unexpected adverse effects on the Company\u2019s operations, that completion techniques require further optimization, that production rates do not match the Company\u2019s assumptions, that very low or no production rates are achieved, that the price of oil will decline, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company&#8217;s business as set forth in the Company&#8217;s management discussion and analysis and its annual information form, both of which are available for viewing under the Company&#8217;s profile at <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedar.com&amp;esheet=54179069&amp;newsitemid=20250114480489&amp;lan=en-US&amp;anchor=www.sedar.com&amp;index=3&amp;md5=0b50905dac9d277d2d92ae81521bf515\">www.sedar.com<\/a><i>, any of which could result in delays, cessation in planned work or loss of one or more leases and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.<\/i><\/p>\n<p><b><i>Caution Regarding Future-Oriented Financial Information and Financial Outlook<\/i><\/b><\/p>\n<p><i>This news release may contain information deemed to be \u201cfuture-oriented financial information\u201d or a \u201cfinancial outlook\u201d (collectively, \u201cFOFI\u201d) within the meaning of applicable securities laws. The FOFI has been prepared by management to provide an outlook of the Company\u2019s activities and results and may not be appropriate for other purposes. The FOFI has been prepared based on a number of assumptions including the assumptions discussed above under \u201cCaution Regarding Forward-Looking Information\u201d. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management\u2019s best estimates and judgments. FOFI contained in this news release was made as of the date of this news release and the Company disclaims any intention or obligations to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250114480489r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250114480489\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250114480489\/en\/<\/a><\/span><\/p>\n<p><b>For further information, contact:<br \/>\n<\/b><br \/>Wolf E. Regener, +1 (805) 484-3613<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:wregener@kolibrienergy.com\">wregener@kolibrienergy.com<br \/>\n<\/a><br \/>Website: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kolibrienergy.com&amp;esheet=54179069&amp;newsitemid=20250114480489&amp;lan=en-US&amp;anchor=www.kolibrienergy.com&amp;index=4&amp;md5=0ae7cbc4547a6207c23046978dfbe216\">www.kolibrienergy.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> California Ireland United States United Kingdom Canada North America Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Energy Other Energy Oil\/Gas<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250114480489\/en\/1285787\/3\/Kolibri_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Kolibri Global Energy Inc. Provides 2025 Guidance With a Forecasted Increase of More Than 35 Percent to Adjusted EBITDA and More Than 38 Percent to Average Production Over 2024 Guidance THOUSAND OAKS, Calif.&#8211;(BUSINESS WIRE)&#8211; Kolibri Global Energy Inc. (the \u201cCompany\u201d or \u201cKolibri\u201d) (TSX: KEI, NASDAQ: KGEI) is providing 2025 guidance for its Tishomingo field in Oklahoma. The Company is providing its forecasted guidance for 2025 as follows: \u00a0 \u00a0 2025 Forecast \u00a0 % Increase from 2024 Guidance Range \u00a0 \u00a0 \u00a0 \u00a0 Average production 4,500 to 5,100 boepd \u00a0 38% to 40% Revenue(1) US$75 million to US$89 million \u00a0 32% to 44% Adjusted EBITDA(2) US$58 million to US$71 million \u00a0 35% to 48% Capital expenditures US$48 million to US$53 million &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kolibri-global-energy-inc-provides-2025-guidance-with-a-forecasted-increase-of-more-than-35-percent-to-adjusted-ebitda-and-more-than-38-percent-to-average-production-over-2024-guidance\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kolibri Global Energy Inc. Provides 2025 Guidance With a Forecasted Increase of More Than 35 Percent to Adjusted EBITDA and More Than 38 Percent to Average Production Over 2024 Guidance&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-800365","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kolibri Global Energy Inc. 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Provides 2025 Guidance With a Forecasted Increase of More Than 35 Percent to Adjusted EBITDA and More Than 38 Percent to Average Production Over 2024 Guidance THOUSAND OAKS, Calif.&#8211;(BUSINESS WIRE)&#8211; Kolibri Global Energy Inc. (the \u201cCompany\u201d or \u201cKolibri\u201d) (TSX: KEI, NASDAQ: KGEI) is providing 2025 guidance for its Tishomingo field in Oklahoma. The Company is providing its forecasted guidance for 2025 as follows: \u00a0 \u00a0 2025 Forecast \u00a0 % Increase from 2024 Guidance Range \u00a0 \u00a0 \u00a0 \u00a0 Average production 4,500 to 5,100 boepd \u00a0 38% to 40% Revenue(1) US$75 million to US$89 million \u00a0 32% to 44% Adjusted EBITDA(2) US$58 million to US$71 million \u00a0 35% to 48% Capital expenditures US$48 million to US$53 million &hellip; Continue reading &quot;Kolibri Global Energy Inc. 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Provides 2025 Guidance With a Forecasted Increase of More Than 35 Percent to Adjusted EBITDA and More Than 38 Percent to Average Production Over 2024 Guidance THOUSAND OAKS, Calif.&#8211;(BUSINESS WIRE)&#8211; Kolibri Global Energy Inc. (the \u201cCompany\u201d or \u201cKolibri\u201d) (TSX: KEI, NASDAQ: KGEI) is providing 2025 guidance for its Tishomingo field in Oklahoma. The Company is providing its forecasted guidance for 2025 as follows: \u00a0 \u00a0 2025 Forecast \u00a0 % Increase from 2024 Guidance Range \u00a0 \u00a0 \u00a0 \u00a0 Average production 4,500 to 5,100 boepd \u00a0 38% to 40% Revenue(1) US$75 million to US$89 million \u00a0 32% to 44% Adjusted EBITDA(2) US$58 million to US$71 million \u00a0 35% to 48% Capital expenditures US$48 million to US$53 million &hellip; Continue reading \"Kolibri Global Energy Inc. 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