\n\u00a0<\/p>\n<\/td>\n
\n2026 Base<\/p>\n
\nForecast<\/p>\n<\/td>\n
\n% Increase from<\/p>\n
\nFiscal Year 2025<\/p>\n<\/td>\n<\/tr>\n
\n\u00a0<\/p>\n<\/td>\n
\n\u00a0<\/p>\n<\/td>\n
\n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\nAverage production<\/p>\n<\/td>\n
\n4,700 to 5,200 boepd<\/p>\n<\/td>\n
\n17% to 30%<\/p>\n<\/td>\n<\/tr>\n
\nRevenue(1)<\/sup><\/p>\n<\/td>\n \n$78 million to $84 million<\/p>\n<\/td>\n \n37% to 48%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA(2)<\/sup><\/p>\n<\/td>\n \n$56 million to $62 million<\/p>\n<\/td>\n \n33% to 47%<\/p>\n<\/td>\n<\/tr>\n \nCapital Expenditures<\/p>\n<\/td>\n \n$39 million to $43 million<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet Debt at December 2026<\/p>\n<\/td>\n \n$38 million to $42 million<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \nAssumptions include forecasted pricing for July – December 2026 of WTI US $70\/bbl, $3.50 Henry Hub and NGL pricing of $28.00\/boe and includes the impact of the Company\u2019s existing hedges and a 100% working interest in the Clifton Mac wells.<\/p>\n<\/td>\n<\/tr>\n \n(2)<\/p>\n<\/td>\n \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 \nWolf Regener, President and CEO, commented, \u201cThis revised forecast generates an Adjusted EBITDA of $56 to $62 million on capital expenditures of $39 to $43 million. Our forecasted revenue increases by over 40 percent from 2025 with this drilling program and is based on a future oil price of $70 per barrel (our previous forecast was based on $74 per barrel). This forecast not only demonstrates the Company\u2019s strong cash flow generation, but it also reflects the beginning of our updated strategy to target other benches in the Tishomingo field. The forecast also accounts for the extra costs incurred in drilling and redrilling the first Clifton Mack well and the redesigned second and third Clifton Mack wells. These wells will be more expensive than our normal Caney well design due to the extra casing strings needed in this area. Although we encountered unexpected geologic conditions in drilling the first Clifton Mack well, the pressures we encountered are supportive of high production rates from the Clifton Mack wells. Our standard Caney well design will continue to be used in other areas of the field.<\/p>\n \n\u201cI\u2019m excited to announce our updated corporate strategy and that testing our first False Caney well, will happen soon, hopefully proving up a new bench. Successful results in these additional benches will have the potential to add many future drilling locations not currently booked, which would increase our reserves and thus value for our shareholders.\u201d<\/p>\n \nDavid Neuhauser, Chairman, commented, \u201cThe Board, including its new members, who have extensive technical and financial experience, is fully supportive of Kolibri\u2019s continued focus on increasing both production and reserves to further unlock intrinsic value for its shareholders through the drill bit. Being a low-cost energy producer in the heart of America is vital for future energy security and should command a premium valuation which we feel is not reflected in our current stock price.\u201d<\/p>\n About Kolibri Global Energy Inc.<\/i><\/b><\/p>\n 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’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 Cautionary Statements<\/b><\/p>\n \nIn this news release and the Company\u2019s other public disclosure:<\/p>\n Non-GAAP Measures<\/b><\/p>\n \nAdjusted EBITDA is not a measure recognized under Canadian Generally Accepted Accounting Principles (“GAAP<\/b>“) 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’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’s performance.<\/p>\n \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.<\/p>\n \nThe following is the reconciliation of the non-GAAP measure Adjusted EBITDA to the comparable financial measures disclosed in the Company\u2019s financial statements:<\/p>\n (US $000)<\/i><\/p>\n<\/td>\n \nYear Ended<\/p>\n \nDecember 31,<\/p>\n<\/td>\n<\/tr>\n \n2025<\/p>\n<\/td>\n \n2024<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n$ 15,477<\/p>\n<\/td>\n \n$ 18,115<\/p>\n<\/td>\n<\/tr>\n \nDepletion and depreciation<\/p>\n<\/td>\n \n17,038<\/p>\n<\/td>\n \n15,892<\/p>\n<\/td>\n<\/tr>\n \nAccretion<\/p>\n<\/td>\n \n250<\/p>\n<\/td>\n \n172<\/p>\n<\/td>\n<\/tr>\n \nInterest expense<\/p>\n<\/td>\n \n3,291<\/p>\n<\/td>\n \n3,382<\/p>\n<\/td>\n<\/tr>\n \nUnrealized (gain) loss on commodity contracts<\/p>\n<\/td>\n \n32<\/p>\n<\/td>\n \n(336)<\/p>\n<\/td>\n<\/tr>\n \nStock based compensation<\/p>\n<\/td>\n \n1,744<\/p>\n<\/td>\n \n1,075<\/p>\n<\/td>\n<\/tr>\n \nInterest income<\/p>\n<\/td>\n \n(31)<\/p>\n<\/td>\n \n(2)<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n4,868<\/p>\n<\/td>\n \n5,864<\/p>\n<\/td>\n<\/tr>\n \nOther income<\/p>\n<\/td>\n \n(565)<\/p>\n<\/td>\n \n(127)<\/p>\n<\/td>\n<\/tr>\n \nForeign currency loss<\/p>\n<\/td>\n \n3<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n \n$ 42,107<\/p>\n<\/td>\n \n$ 44,039<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Caution Regarding Forward-Looking Information<\/i><\/b><\/p>\n Certain statements contained in this news release constitute “forward-looking information” 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 Company\u2019s revised corporate strategy of targeting additional benches on its Tishomingo field in Oklahoma, the timing of and expected results from planned wells development, wells performing as anticipated, including anticipated increases in production, cash flow, higher rates of return and efficiencies, projected average production, revenue, capital expenditures, Adjusted EBITDA and net debt for 2026, the Company\u2019s internal estimates, forecasts, timing of completion and anticipated production regarding the Clifton Mack wells, the expectation that oil saturation and higher clay shale will be a frack barrier separating the False Caney from the main Caney formation, the expectation that<\/i>drilling both Upper and Lower Caney wells will result in recovering more reserves from the field, the expectation that the T-zone can be produced economically without interfering with the Company\u2019s production from the Lower Caney, and the anticipated drilling of the Upper Caney in late 2026 or early 2027. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company’s technical team at the date the data is provided and is subject to several factors and assumptions of management, including 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 gathering system issues will be resolved, 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’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 gathering system operator doesn\u2019t get the issues resolved, 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’s business as set forth in the Company’s management discussion and analysis and its annual information form, both of which are available for viewing under the Company’s profile at <\/i>www.sedarplus.ca<\/i><\/a>, 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 Caution Regarding Future-Oriented Financial Information and Financial Outlook<\/i><\/b><\/p>\n 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 View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260629389827\/en\/<\/a><\/span><\/p>\n For further information, contact: KEYWORDS:<\/b> California North America United States Ireland United Kingdom Europe<\/p>\n INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/p>\n
\n<\/b>
Wolf E. Regener +1 (805) 484-3613
\n
Email: wregener@kolibrienergy.com
\n<\/a>
Website: www.kolibrienergy.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260629389827\/en\/1285787\/3\/Kolibri_Logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n