{"success":true,"data":{"pressRelease":{"id":"75079","rtpr_id":"nBw8x9dHJa","ticker":"KEI","exchange":"TSX","all_tickers":["KEI"],"title":"Kolibri Global Energy Inc. Provides Strategy Update and Higher 2026 Forecast","author":"Business Wire","published_at":"2026-06-29T10:45:00.143Z","article_body":"Kolibri Global Energy Inc. Provides Strategy Update and Higher 2026 Forecast\n\nAll amounts are in US$\n\nKolibri Global Energy Inc. (the “Company” or Kolibri”) (TSX: KEI,\nNASDAQ: KGEI) is announcing an update to its long-term strategy along with a\nrevised forecast based on updates to its 2026 drilling program.\n\nCompany Strategy\n\nThe Company’s strategy to date has been to mainly focus on developing the\nLower Caney in the Company’s Tishomingo field in Oklahoma. However, the\nCompany has long known that there are other benches in its field that are not\ncurrently reflected in the Company’s reserve report. It believes that, with\nmodifications to its latest completion techniques, these benches can be\neconomically developed. The Company has revised its strategy to include\ntargeting these benches while continuing the development of the Lower Caney.\nThese benches include the False Caney, the Upper Caney, the T-zone, and the\nSycamore. The Company’s strategy will be to continue drilling mainly one and\na half and two-mile lateral development wells in the Lower Caney formation\nwhile also drilling longer lateral wells into these additional benches to\ndetermine their economic viability.\n\nThe Company is adding an additional well to its 2026 drilling program, which\nwill target the False Caney. The Upper Caney is likely to be the next bench\ntargeted and may be drilled in late 2026 or early 2027. The Company will\ndetermine the next T-zone well and potentially test the Sycamore at a later\ndate.\n\nOperations & Corporate Update\n\nThe Company is currently drilling the three previously announced Clifton Mack\nwells. Immediately following the drilling of these wells, the drilling rig is\nscheduled to move over to drill the Lovina 5-8-1H well (98.5% working\ninterest), which will be a two-mile lateral False Caney well.\n\nThe Clifton Mack 11-14-1HR well has been drilled and cased after being\nredrilled with a redesigned casing program. Unexpected geologic conditions\nwere encountered in the drilling of the first Clifton Mack well, which\nresulted in the need to redrill and redesign the well with extra casing\nstrings.\n\nThe Company is currently batch drilling the Clifton Mack 11-14-2HR and the\nClifton Mack 11-14-3HR wells, with the learnings from the first Clifton Mack\nwell being applied to these wells. The Clifton Mack wells are located in the\nSouthwest corner of Kolibri’s acreage block and were probable locations on\nthe Company’s December 2025 reserve report. The wells are planned to be\ncompleted in the third quarter.\n\nBased on the updated plans, the Company is forecasting the following results,\nassuming a $70 oil price for the rest of the year. All amounts are in U.S.\ndollars:\n                            2026 Base                   % Increase from    \n                            \n                           \n                  \n                            \nForecast                   \nFiscal Year 2025  \n                                                                           \n Average production         4,700 to 5,200 boepd        17% to 30%         \n Revenue((1))               $78 million to $84 million  37% to 48%         \n Adjusted EBITDA((2))       $56 million to $62 million  33% to 47%         \n Capital Expenditures       $39 million to $43 million                     \n Net Debt at December 2026  $38 million to $42 million                     \n\n (1)  Assumptions include forecasted pricing for July - December 2026 of WTI US        \n      $70/bbl, $3.50 Henry Hub and NGL pricing of $28.00/boe and includes the impact   \n      of the Company’s existing hedges and a 100% working interest in the Clifton      \n      Mac wells.                                                                       \n (2)  Adjusted EBITDA is considered a non-GAAP measure. Refer to the section           \n      entitled “Non-GAAP Measures” of this news release                                \n\n\nWolf Regener, President and CEO, commented, “This revised forecast generates\nan Adjusted EBITDA of $56 to $62 million on capital expenditures of $39 to $43\nmillion. Our forecasted revenue increases by over 40 percent from 2025 with\nthis drilling program and is based on a future oil price of $70 per barrel\n(our previous forecast was based on $74 per barrel). This forecast not only\ndemonstrates the Company’s strong cash flow generation, but it also reflects\nthe beginning of our updated strategy to target other benches in the\nTishomingo field. The forecast also accounts for the extra costs incurred in\ndrilling and redrilling the first Clifton Mack well and the redesigned second\nand third Clifton Mack wells. These wells will be more expensive than our\nnormal Caney well design due to the extra casing strings needed in this area.\nAlthough we encountered unexpected geologic conditions in drilling the first\nClifton Mack well, the pressures we encountered are supportive of high\nproduction rates from the Clifton Mack wells. Our standard Caney well design\nwill continue to be used in other areas of the field.\n\n“I’m excited to announce our updated corporate strategy and that testing\nour first False Caney well, will happen soon, hopefully proving up a new\nbench. Successful results in these additional benches will have the potential\nto add many future drilling locations not currently booked, which would\nincrease our reserves and thus value for our shareholders.”\n\nDavid Neuhauser, Chairman, commented, “The Board, including its new members,\nwho have extensive technical and financial experience, is fully supportive of\nKolibri’s continued focus on increasing both production and reserves to\nfurther unlock intrinsic value for its shareholders through the drill bit.\nBeing a low-cost energy producer in the heart of America is vital for future\nenergy security and should command a premium valuation which we feel is not\nreflected in our current stock price.”\n\nAbout Kolibri Global Energy Inc.\n\nKolibri Global Energy Inc. is a North American energy company focused on\nfinding and exploiting energy projects in oil and gas. Through various\nsubsidiaries, the Company owns and operates energy properties in the United\nStates. The Company continues to utilize its technical and operational\nexpertise to identify and acquire additional projects in oil and gas. The\nCompany's shares are traded on the Toronto Stock Exchange under the stock\nsymbol KEI and on the NASDAQ under the stock symbol KGEI.\n\nCautionary Statements\n\nIn this news release and the Company’s other public disclosure:\n\n\n 1. The Company's natural gas production is reported in thousands of cubic feet\n(\"Mcfs\"). The Company also uses references to barrels (\"Bbls\") and barrels of\noil equivalent (\"Boes\") to reflect natural gas liquids and oil production and\nsales. Boes may be misleading, particularly if used in isolation. A Boe\nconversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion\nmethod primarily applicable at the burner tip and does not represent a value\nequivalency at the wellhead. Given that the value ratio based on the current\nprice of crude oil as compared to natural gas is significantly different from\nthe energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be\nmisleading as an indication of value.\n\n 2. Discounted and undiscounted net present value of future net revenues\nattributable to reserves do not represent fair market value.\n\n 3. Possible reserves are those additional reserves that are less certain to be\nrecovered than probable reserves. There is a 10% probability that the\nquantities actually recovered will equal or exceed the sum of proved plus\nprobable plus possible reserves.\n\n 4. The Company discloses peak and 30-day initial production rates and other\nshort-term production rates. Readers are cautioned that such production rates\nare preliminary in nature and are not necessarily indicative of long-term\nperformance or of ultimate recovery.\n\n 5. “Oil” refers to light crude oil and medium crude oil combined, and\n\"natural gas\" refers to shale gas, in each case as defined by NI 51-101.\nProduction from our wells, primarily disclosed in this news release in BOEs,\nconsists of mainly oil and associated wet gas. The wet gas is delivered via\ngathering system and then pipelines to processing plants where it is treated\nand sold as natural gas and NGLs.\n\nNon-GAAP Measures\n\nAdjusted EBITDA is not a measure recognized under Canadian Generally Accepted\nAccounting Principles (\"GAAP\") and does not have any standardized meaning\nprescribed by IFRS. Management of the Company believes that Adjusted EBITDA is\nrelevant for evaluating returns on the Company's project as well as the\nperformance of the enterprise as a whole. Adjusted EBITDA may differ from\nsimilar computations as reported by other similar organizations and,\naccordingly, may not be comparable to similar non-GAAP measures as reported by\nsuch organizations. Adjusted EBITDA should not be construed as an alternative\nto net income, cash flows related to operating activities, working capital, or\nother financial measures determined in accordance with IFRS as an indicator of\nthe Company's performance.\n\nAdjusted EBITDA is calculated as net income before interest, taxes, depletion\nand depreciation and other non-cash and non-operating gains and losses. The\nCompany considers this a key measure as it demonstrates its ability to\ngenerate cash from operations necessary for future growth excluding non-cash\nitems, gains and losses that are not part of the normal operations of the\nCompany and financing costs.\n\nThe following is the reconciliation of the non-GAAP measure Adjusted EBITDA to\nthe comparable financial measures disclosed in the Company’s financial\nstatements:\n (US $000)                                      Year Ended          \n                                                \n                   \n                                                \nDecember 31,       \n                                                2025      2024      \n Net income                                     $ 15,477  $ 18,115  \n Depletion and depreciation                     17,038    15,892    \n Accretion                                      250       172       \n Interest expense                               3,291     3,382     \n Unrealized (gain) loss on commodity contracts  32        (336)     \n Stock based compensation                       1,744     1,075     \n Interest income                                (31)      (2)       \n Income tax expense                             4,868     5,864     \n Other income                                   (565)     (127)     \n Foreign currency loss                          3         4         \n                                                                    \n Adjusted EBITDA                                $ 42,107  $ 44,039  \n\n\nCaution Regarding Forward-Looking Information\n\nCertain statements contained in this news release constitute \"forward-looking\ninformation\" as such term is used in applicable Canadian securities laws and\n“forward-looking statements” within the meaning of United States\nsecurities laws (collectively, “forward looking information”), including\nstatements regarding the Company’s revised corporate strategy of targeting\nadditional benches on its Tishomingo field in Oklahoma, the timing of and\nexpected results from planned wells development, wells performing as\nanticipated, including anticipated increases in production, cash flow, higher\nrates of return and efficiencies, projected average production, revenue,\ncapital expenditures, Adjusted EBITDA and net debt for 2026, the Company’s\ninternal estimates, forecasts, timing of completion and anticipated production\nregarding the Clifton Mack wells, the expectation that oil saturation and\nhigher clay shale will be a frack barrier separating the False Caney from the\nmain Caney formation, the expectation that drilling both Upper and Lower Caney\nwells will result in recovering more reserves from the field, the expectation\nthat the T-zone can be produced economically without interfering with the\nCompany’s production from the Lower Caney, and the anticipated drilling of\nthe Upper Caney in late 2026 or early 2027. Forward-looking information is\nbased on plans and estimates of management and interpretations of data by the\nCompany's technical team at the date the data is provided and is subject to\nseveral factors and assumptions of management, including that indications of\nearly results are reasonably accurate predictors of the prospectiveness of the\nshale intervals, that required regulatory approvals will be available when\nrequired, that no unforeseen delays, unexpected geological or other effects,\nincluding flooding and extended interruptions due to inclement or hazardous\nweather conditions, equipment failures, permitting delays or labor or contract\ndisputes are encountered, that the necessary labor and equipment will be\nobtained, that the development plans of the Company and its co-venturers will\nnot change, that the offset operator’s operations will proceed as expected\nby management, that the demand for oil and gas will be sustained, that the\nprice of oil will be sustained or increase, that the gathering system issues\nwill be resolved, that the Company will continue to be able to access\nsufficient capital through cash flow, debt, financings, farm-ins or other\nparticipation arrangements to maintain its projects, and that global economic\nconditions will not deteriorate in a manner that has an adverse impact on the\nCompany's business, its ability to advance its business strategy and the\nindustry as a whole. Forward-looking information is subject to a variety of\nrisks and uncertainties and other factors that could cause plans, estimates\nand actual results to vary materially from those projected in such\nforward-looking information. Factors that could cause the forward-looking\ninformation in this news release to change or to be inaccurate include, but\nare not limited to, the risk that any of the assumptions on which such forward\nlooking information is based vary or prove to be invalid, including that the\nCompany or its subsidiaries is not able for any reason to obtain and provide\nthe information necessary to secure required approvals or that required\nregulatory approvals are otherwise not available when required, that\nunexpected geological results are encountered, that equipment failures,\npermitting delays, labor or contract disputes or shortages of equipment, labor\nor materials are encountered, the risks associated with the oil and gas\nindustry (e.g. operational risks in development, exploration and production;\ndelays or changes in plans with respect to exploration and development\nprojects or capital expenditures; the uncertainty of reserve and resource\nestimates and projections relating to production, costs and expenses, and\nhealth, safety and environmental risks, including flooding and extended\ninterruptions due to inclement or hazardous weather conditions), the risk of\ncommodity price and foreign exchange rate fluctuations, that the offset\noperator’s operations have unexpected adverse effects on the Company’s\noperations, that completion techniques require further optimization, that\nproduction rates do not match the Company’s assumptions, that very low or no\nproduction rates are achieved, that the gathering system operator doesn’t\nget the issues resolved, that the price of oil will decline, that the Company\nis unable to access required capital, that occurrences such as those that are\nassumed will not occur, do in fact occur, and those conditions that are\nassumed will continue or improve, do not continue or improve, and the other\nrisks and uncertainties applicable to exploration and development activities\nand the Company's business as set forth in the Company's management discussion\nand analysis and its annual information form, both of which are available for\nviewing under the Company's profile at www.sedarplus.ca\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sedarplus.ca&esheet=54561870&newsitemid=20260629389827&lan=en-US&anchor=www.sedarplus.ca&index=1&md5=c2809d2074ba790898dc1706840d2e4e)\n, any of which could result in delays, cessation in planned work or loss of\none or more leases and have an adverse effect on the Company and its financial\ncondition. The Company undertakes no obligation to update these\nforward-looking statements, other than as required by applicable law.\n\nCaution Regarding Future-Oriented Financial Information and Financial Outlook\n\nThis news release may contain information deemed to be “future-oriented\nfinancial information” or a “financial outlook” (collectively,\n“FOFI”) within the meaning of applicable securities laws. The FOFI has\nbeen prepared by management to provide an outlook of the Company’s\nactivities and results and may not be appropriate for other purposes. The FOFI\nhas been prepared based on a number of assumptions including the assumptions\ndiscussed above under “Caution Regarding Forward-Looking Information”. The\nactual results of operations of the Company and the resulting financial\nresults may vary from the amounts set forth herein, and such variations may be\nmaterial. The Company and management believe that the FOFI has been prepared\non a reasonable basis, reflecting management’s best estimates and judgments.\nFOFI contained in this news release was made as of the date of this news\nrelease and the Company disclaims any intention or obligations to update or\nrevise any FOFI contained in this news release, whether as a result of new\ninformation, future events or otherwise, unless required pursuant to\napplicable law.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260629389827/en/\n(https://www.businesswire.com/news/home/20260629389827/en/)\n\nFor further information, contact: \n\nWolf E. Regener +1 (805) 484-3613\n\nEmail: wregener@kolibrienergy.com \n(mailto:wregener@kolibrienergy.com) \nWebsite: www.kolibrienergy.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.kolibrienergy.com&esheet=54561870&newsitemid=20260629389827&lan=en-US&anchor=www.kolibrienergy.com&index=2&md5=b8e5b970a7bad17751ab749ca8ba7314)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw8x9dHJa","title":"Kolibri Global Energy Inc. Provides Strategy Update and Higher 2026 Forecast","author":"Business Wire","ticker":"KEI","created":"2026-06-29T10:45:00.143Z","tickers":["KEI"],"exchange":"TSX","article_body":"Kolibri Global Energy Inc. Provides Strategy Update and Higher 2026 Forecast\n\nAll amounts are in US$\n\nKolibri Global Energy Inc. (the “Company” or Kolibri”) (TSX: KEI,\nNASDAQ: KGEI) is announcing an update to its long-term strategy along with a\nrevised forecast based on updates to its 2026 drilling program.\n\nCompany Strategy\n\nThe Company’s strategy to date has been to mainly focus on developing the\nLower Caney in the Company’s Tishomingo field in Oklahoma. However, the\nCompany has long known that there are other benches in its field that are not\ncurrently reflected in the Company’s reserve report. It believes that, with\nmodifications to its latest completion techniques, these benches can be\neconomically developed. The Company has revised its strategy to include\ntargeting these benches while continuing the development of the Lower Caney.\nThese benches include the False Caney, the Upper Caney, the T-zone, and the\nSycamore. The Company’s strategy will be to continue drilling mainly one and\na half and two-mile lateral development wells in the Lower Caney formation\nwhile also drilling longer lateral wells into these additional benches to\ndetermine their economic viability.\n\nThe Company is adding an additional well to its 2026 drilling program, which\nwill target the False Caney. The Upper Caney is likely to be the next bench\ntargeted and may be drilled in late 2026 or early 2027. The Company will\ndetermine the next T-zone well and potentially test the Sycamore at a later\ndate.\n\nOperations & Corporate Update\n\nThe Company is currently drilling the three previously announced Clifton Mack\nwells. Immediately following the drilling of these wells, the drilling rig is\nscheduled to move over to drill the Lovina 5-8-1H well (98.5% working\ninterest), which will be a two-mile lateral False Caney well.\n\nThe Clifton Mack 11-14-1HR well has been drilled and cased after being\nredrilled with a redesigned casing program. Unexpected geologic conditions\nwere encountered in the drilling of the first Clifton Mack well, which\nresulted in the need to redrill and redesign the well with extra casing\nstrings.\n\nThe Company is currently batch drilling the Clifton Mack 11-14-2HR and the\nClifton Mack 11-14-3HR wells, with the learnings from the first Clifton Mack\nwell being applied to these wells. The Clifton Mack wells are located in the\nSouthwest corner of Kolibri’s acreage block and were probable locations on\nthe Company’s December 2025 reserve report. The wells are planned to be\ncompleted in the third quarter.\n\nBased on the updated plans, the Company is forecasting the following results,\nassuming a $70 oil price for the rest of the year. All amounts are in U.S.\ndollars:\n                            2026 Base                   % Increase from    \n                            \n                           \n                  \n                            \nForecast                   \nFiscal Year 2025  \n                                                                           \n Average production         4,700 to 5,200 boepd        17% to 30%         \n Revenue((1))               $78 million to $84 million  37% to 48%         \n Adjusted EBITDA((2))       $56 million to $62 million  33% to 47%         \n Capital Expenditures       $39 million to $43 million                     \n Net Debt at December 2026  $38 million to $42 million                     \n\n (1)  Assumptions include forecasted pricing for July - December 2026 of WTI US        \n      $70/bbl, $3.50 Henry Hub and NGL pricing of $28.00/boe and includes the impact   \n      of the Company’s existing hedges and a 100% working interest in the Clifton      \n      Mac wells.                                                                       \n (2)  Adjusted EBITDA is considered a non-GAAP measure. Refer to the section           \n      entitled “Non-GAAP Measures” of this news release                                \n\n\nWolf Regener, President and CEO, commented, “This revised forecast generates\nan Adjusted EBITDA of $56 to $62 million on capital expenditures of $39 to $43\nmillion. Our forecasted revenue increases by over 40 percent from 2025 with\nthis drilling program and is based on a future oil price of $70 per barrel\n(our previous forecast was based on $74 per barrel). This forecast not only\ndemonstrates the Company’s strong cash flow generation, but it also reflects\nthe beginning of our updated strategy to target other benches in the\nTishomingo field. The forecast also accounts for the extra costs incurred in\ndrilling and redrilling the first Clifton Mack well and the redesigned second\nand third Clifton Mack wells. These wells will be more expensive than our\nnormal Caney well design due to the extra casing strings needed in this area.\nAlthough we encountered unexpected geologic conditions in drilling the first\nClifton Mack well, the pressures we encountered are supportive of high\nproduction rates from the Clifton Mack wells. Our standard Caney well design\nwill continue to be used in other areas of the field.\n\n“I’m excited to announce our updated corporate strategy and that testing\nour first False Caney well, will happen soon, hopefully proving up a new\nbench. Successful results in these additional benches will have the potential\nto add many future drilling locations not currently booked, which would\nincrease our reserves and thus value for our shareholders.”\n\nDavid Neuhauser, Chairman, commented, “The Board, including its new members,\nwho have extensive technical and financial experience, is fully supportive of\nKolibri’s continued focus on increasing both production and reserves to\nfurther unlock intrinsic value for its shareholders through the drill bit.\nBeing a low-cost energy producer in the heart of America is vital for future\nenergy security and should command a premium valuation which we feel is not\nreflected in our current stock price.”\n\nAbout Kolibri Global Energy Inc.\n\nKolibri Global Energy Inc. is a North American energy company focused on\nfinding and exploiting energy projects in oil and gas. Through various\nsubsidiaries, the Company owns and operates energy properties in the United\nStates. The Company continues to utilize its technical and operational\nexpertise to identify and acquire additional projects in oil and gas. The\nCompany's shares are traded on the Toronto Stock Exchange under the stock\nsymbol KEI and on the NASDAQ under the stock symbol KGEI.\n\nCautionary Statements\n\nIn this news release and the Company’s other public disclosure:\n\n\n 1. The Company's natural gas production is reported in thousands of cubic feet\n(\"Mcfs\"). The Company also uses references to barrels (\"Bbls\") and barrels of\noil equivalent (\"Boes\") to reflect natural gas liquids and oil production and\nsales. Boes may be misleading, particularly if used in isolation. A Boe\nconversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion\nmethod primarily applicable at the burner tip and does not represent a value\nequivalency at the wellhead. Given that the value ratio based on the current\nprice of crude oil as compared to natural gas is significantly different from\nthe energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be\nmisleading as an indication of value.\n\n 2. Discounted and undiscounted net present value of future net revenues\nattributable to reserves do not represent fair market value.\n\n 3. Possible reserves are those additional reserves that are less certain to be\nrecovered than probable reserves. There is a 10% probability that the\nquantities actually recovered will equal or exceed the sum of proved plus\nprobable plus possible reserves.\n\n 4. The Company discloses peak and 30-day initial production rates and other\nshort-term production rates. Readers are cautioned that such production rates\nare preliminary in nature and are not necessarily indicative of long-term\nperformance or of ultimate recovery.\n\n 5. “Oil” refers to light crude oil and medium crude oil combined, and\n\"natural gas\" refers to shale gas, in each case as defined by NI 51-101.\nProduction from our wells, primarily disclosed in this news release in BOEs,\nconsists of mainly oil and associated wet gas. The wet gas is delivered via\ngathering system and then pipelines to processing plants where it is treated\nand sold as natural gas and NGLs.\n\nNon-GAAP Measures\n\nAdjusted EBITDA is not a measure recognized under Canadian Generally Accepted\nAccounting Principles (\"GAAP\") and does not have any standardized meaning\nprescribed by IFRS. Management of the Company believes that Adjusted EBITDA is\nrelevant for evaluating returns on the Company's project as well as the\nperformance of the enterprise as a whole. Adjusted EBITDA may differ from\nsimilar computations as reported by other similar organizations and,\naccordingly, may not be comparable to similar non-GAAP measures as reported by\nsuch organizations. Adjusted EBITDA should not be construed as an alternative\nto net income, cash flows related to operating activities, working capital, or\nother financial measures determined in accordance with IFRS as an indicator of\nthe Company's performance.\n\nAdjusted EBITDA is calculated as net income before interest, taxes, depletion\nand depreciation and other non-cash and non-operating gains and losses. The\nCompany considers this a key measure as it demonstrates its ability to\ngenerate cash from operations necessary for future growth excluding non-cash\nitems, gains and losses that are not part of the normal operations of the\nCompany and financing costs.\n\nThe following is the reconciliation of the non-GAAP measure Adjusted EBITDA to\nthe comparable financial measures disclosed in the Company’s financial\nstatements:\n (US $000)                                      Year Ended          \n                                                \n                   \n                                                \nDecember 31,       \n                                                2025      2024      \n Net income                                     $ 15,477  $ 18,115  \n Depletion and depreciation                     17,038    15,892    \n Accretion                                      250       172       \n Interest expense                               3,291     3,382     \n Unrealized (gain) loss on commodity contracts  32        (336)     \n Stock based compensation                       1,744     1,075     \n Interest income                                (31)      (2)       \n Income tax expense                             4,868     5,864     \n Other income                                   (565)     (127)     \n Foreign currency loss                          3         4         \n                                                                    \n Adjusted EBITDA                                $ 42,107  $ 44,039  \n\n\nCaution Regarding Forward-Looking Information\n\nCertain statements contained in this news release constitute \"forward-looking\ninformation\" as such term is used in applicable Canadian securities laws and\n“forward-looking statements” within the meaning of United States\nsecurities laws (collectively, “forward looking information”), including\nstatements regarding the Company’s revised corporate strategy of targeting\nadditional benches on its Tishomingo field in Oklahoma, the timing of and\nexpected results from planned wells development, wells performing as\nanticipated, including anticipated increases in production, cash flow, higher\nrates of return and efficiencies, projected average production, revenue,\ncapital expenditures, Adjusted EBITDA and net debt for 2026, the Company’s\ninternal estimates, forecasts, timing of completion and anticipated production\nregarding the Clifton Mack wells, the expectation that oil saturation and\nhigher clay shale will be a frack barrier separating the False Caney from the\nmain Caney formation, the expectation that drilling both Upper and Lower Caney\nwells will result in recovering more reserves from the field, the expectation\nthat the T-zone can be produced economically without interfering with the\nCompany’s production from the Lower Caney, and the anticipated drilling of\nthe Upper Caney in late 2026 or early 2027. Forward-looking information is\nbased on plans and estimates of management and interpretations of data by the\nCompany's technical team at the date the data is provided and is subject to\nseveral factors and assumptions of management, including that indications of\nearly results are reasonably accurate predictors of the prospectiveness of the\nshale intervals, that required regulatory approvals will be available when\nrequired, that no unforeseen delays, unexpected geological or other effects,\nincluding flooding and extended interruptions due to inclement or hazardous\nweather conditions, equipment failures, permitting delays or labor or contract\ndisputes are encountered, that the necessary labor and equipment will be\nobtained, that the development plans of the Company and its co-venturers will\nnot change, that the offset operator’s operations will proceed as expected\nby management, that the demand for oil and gas will be sustained, that the\nprice of oil will be sustained or increase, that the gathering system issues\nwill be resolved, that the Company will continue to be able to access\nsufficient capital through cash flow, debt, financings, farm-ins or other\nparticipation arrangements to maintain its projects, and that global economic\nconditions will not deteriorate in a manner that has an adverse impact on the\nCompany's business, its ability to advance its business strategy and the\nindustry as a whole. Forward-looking information is subject to a variety of\nrisks and uncertainties and other factors that could cause plans, estimates\nand actual results to vary materially from those projected in such\nforward-looking information. Factors that could cause the forward-looking\ninformation in this news release to change or to be inaccurate include, but\nare not limited to, the risk that any of the assumptions on which such forward\nlooking information is based vary or prove to be invalid, including that the\nCompany or its subsidiaries is not able for any reason to obtain and provide\nthe information necessary to secure required approvals or that required\nregulatory approvals are otherwise not available when required, that\nunexpected geological results are encountered, that equipment failures,\npermitting delays, labor or contract disputes or shortages of equipment, labor\nor materials are encountered, the risks associated with the oil and gas\nindustry (e.g. operational risks in development, exploration and production;\ndelays or changes in plans with respect to exploration and development\nprojects or capital expenditures; the uncertainty of reserve and resource\nestimates and projections relating to production, costs and expenses, and\nhealth, safety and environmental risks, including flooding and extended\ninterruptions due to inclement or hazardous weather conditions), the risk of\ncommodity price and foreign exchange rate fluctuations, that the offset\noperator’s operations have unexpected adverse effects on the Company’s\noperations, that completion techniques require further optimization, that\nproduction rates do not match the Company’s assumptions, that very low or no\nproduction rates are achieved, that the gathering system operator doesn’t\nget the issues resolved, that the price of oil will decline, that the Company\nis unable to access required capital, that occurrences such as those that are\nassumed will not occur, do in fact occur, and those conditions that are\nassumed will continue or improve, do not continue or improve, and the other\nrisks and uncertainties applicable to exploration and development activities\nand the Company's business as set forth in the Company's management discussion\nand analysis and its annual information form, both of which are available for\nviewing under the Company's profile at www.sedarplus.ca\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sedarplus.ca&esheet=54561870&newsitemid=20260629389827&lan=en-US&anchor=www.sedarplus.ca&index=1&md5=c2809d2074ba790898dc1706840d2e4e)\n, any of which could result in delays, cessation in planned work or loss of\none or more leases and have an adverse effect on the Company and its financial\ncondition. The Company undertakes no obligation to update these\nforward-looking statements, other than as required by applicable law.\n\nCaution Regarding Future-Oriented Financial Information and Financial Outlook\n\nThis news release may contain information deemed to be “future-oriented\nfinancial information” or a “financial outlook” (collectively,\n“FOFI”) within the meaning of applicable securities laws. The FOFI has\nbeen prepared by management to provide an outlook of the Company’s\nactivities and results and may not be appropriate for other purposes. The FOFI\nhas been prepared based on a number of assumptions including the assumptions\ndiscussed above under “Caution Regarding Forward-Looking Information”. The\nactual results of operations of the Company and the resulting financial\nresults may vary from the amounts set forth herein, and such variations may be\nmaterial. The Company and management believe that the FOFI has been prepared\non a reasonable basis, reflecting management’s best estimates and judgments.\nFOFI contained in this news release was made as of the date of this news\nrelease and the Company disclaims any intention or obligations to update or\nrevise any FOFI contained in this news release, whether as a result of new\ninformation, future events or otherwise, unless required pursuant to\napplicable law.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260629389827/en/\n(https://www.businesswire.com/news/home/20260629389827/en/)\n\nFor further information, contact: \n\nWolf E. Regener +1 (805) 484-3613\n\nEmail: wregener@kolibrienergy.com \n(mailto:wregener@kolibrienergy.com) \nWebsite: www.kolibrienergy.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.kolibrienergy.com&esheet=54561870&newsitemid=20260629389827&lan=en-US&anchor=www.kolibrienergy.com&index=2&md5=b8e5b970a7bad17751ab749ca8ba7314)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-06-29T10:45:00.195989483Z","server_sent_at_ms":1782729900195},"received_at":"2026-06-29T10:45:00.374Z","source_url":"https://www.businesswire.com/news/home/20260629389827/en/"},"analysis":{"id":"64430","press_release_id":"75079","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["Unexpected geologic conditions at Clifton Mack well necessitated redrilling and redesigned casing program","Clifton Mack wells expected to be more expensive than standard design due to extra casing strings"],"eventType":"guidance_update","narrative":"Kolibri Global Energy raised its 2026 guidance, forecasting revenue of $78 million to $84 million, an increase of 37% to 48% over 2025, with Adjusted EBITDA projected between $56 million and $62 million.\n\nThe updated outlook reflects a strategic expansion to target additional benches including the False Caney and Upper Caney, alongside continued development of the Lower Caney formation.\n\nManagement noted that while the first Clifton Mack well encountered unexpected geologic conditions requiring a redesign, the pressures encountered support high production rates, and the wells remain on track for completion in the third quarter.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Kolibri lifts 2026 outlook with 40%+ revenue growth forecast as it expands drilling to new benches."},"keyFigures":{"revenue":"$78 million to $84 million","guidance":"2026 Revenue $78M-$84M (up 37-48%); Adj EBITDA $56M-$62M (up 33-47%); CapEx $39M-$43M; Avg Production 4,700-5,200 boepd (up 17-30%)","revenueYoy":"37% to 48%","customDimensions":{"net_debt":"$38 million to $42 million","ebitda_yoy":"33% to 47%","production_yoy":"17% to 30%","adjusted_ebitda":"$56 million to $62 million","average_production":"4,700 to 5,200 boepd","capital_expenditures":"$39 million to $43 million","gas_price_assumption":"$3.50 Henry Hub","oil_price_assumption":"$70/bbl WTI"}},"quotedText":"This revised forecast generates an Adjusted EBITDA of $56 to $62 million on capital expenditures of $39 to $43 million.","namedEntities":{"people":[{"name":"Wolf Regener","role":"President and CEO"},{"name":"David Neuhauser","role":"Chairman"}],"products":[],"companies":[{"name":"Kolibri Global Energy Inc.","ticker":"KEI"}],"dollarAmounts":[{"amount":"$78 million to $84 million","context":"2026 Revenue Forecast"},{"amount":"$56 million to $62 million","context":"2026 Adjusted EBITDA Forecast"},{"amount":"$39 million to $43 million","context":"2026 Capital Expenditures Forecast"},{"amount":"$38 million to $42 million","context":"Net Debt at December 2026 Forecast"},{"amount":"$70 per barrel","context":"Forecasted WTI oil price assumption"},{"amount":"$42,107","context":"2025 Adjusted EBITDA (reconciliation)"}]},"materialImpact":{"score":4,"reasoning":"The company significantly raised its 2026 financial outlook, projecting revenue growth of 37-48% and Adjusted EBITDA growth of 33-47% driven by an expanded drilling program and the strategic addition of new bench targets."},"tickerRelevance":{"others":[],"primary":"KEI"},"globalImportance":25,"audienceRelevance":25,"eventTypeSecondary":["operations_update"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"guidance_raise","sectorWeight":"Energy"}},"event_type":"guidance_update","event_type_secondary":["operations_update"],"sentiment":"bullish","material_impact_score":4,"narrative":"Kolibri Global Energy raised its 2026 guidance, forecasting revenue of $78 million to $84 million, an increase of 37% to 48% over 2025, with Adjusted EBITDA projected between $56 million and $62 million.\n\nThe updated outlook reflects a strategic expansion to target additional benches including the False Caney and Upper Caney, alongside continued development of the Lower Caney formation.\n\nManagement noted that while the first Clifton Mack well encountered unexpected geologic conditions requiring a redesign, the pressures encountered support high production rates, and the wells remain on track for completion in the third quarter.","key_figures":{"revenue":"$78 million to $84 million","guidance":"2026 Revenue $78M-$84M (up 37-48%); Adj EBITDA $56M-$62M (up 33-47%); CapEx $39M-$43M; Avg Production 4,700-5,200 boepd (up 17-30%)","revenueYoy":"37% to 48%","customDimensions":{"net_debt":"$38 million to $42 million","ebitda_yoy":"33% to 47%","production_yoy":"17% to 30%","adjusted_ebitda":"$56 million to $62 million","average_production":"4,700 to 5,200 boepd","capital_expenditures":"$39 million to $43 million","gas_price_assumption":"$3.50 Henry Hub","oil_price_assumption":"$70/bbl WTI"}},"named_entities":{"people":[{"name":"Wolf Regener","role":"President and CEO"},{"name":"David Neuhauser","role":"Chairman"}],"products":[],"companies":[{"name":"Kolibri Global Energy Inc.","ticker":"KEI"}],"dollarAmounts":[{"amount":"$78 million to $84 million","context":"2026 Revenue Forecast"},{"amount":"$56 million to $62 million","context":"2026 Adjusted EBITDA Forecast"},{"amount":"$39 million to $43 million","context":"2026 Capital Expenditures Forecast"},{"amount":"$38 million to $42 million","context":"Net Debt at December 2026 Forecast"},{"amount":"$70 per barrel","context":"Forecasted WTI oil price assumption"},{"amount":"$42,107","context":"2025 Adjusted EBITDA (reconciliation)"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-06-29T10:47:58.100Z","global_importance":25,"audience_relevance":25,"importance_components":{"tickerTier":"small-cap","eventGravity":"guidance_raise","sectorWeight":"Energy"}},"durationMs":124613,"modelName":"george-droid-qwen-72b"}}