All amounts are in U.S. Dollars unless otherwise indicated:
2023 HIGHLIGHTS
- Adjusted EBITDA(1) was $39.1 million in 2023 compared to $25.1
million in 2022, an increase of 56%. This increase was due to the
increase in production of 70% and lower realized losses from
commodity contracts partially offset by a decrease in average
prices of 22%
- Net revenues for 2023 were $50.6 million, an increase of 35%
compared to 2022. This increase was primarily due to a 70% increase
in production partially offset by a 22% decrease in average prices
in 2023 compared to 2022
- Net income in 2023 was $19.3 million ($0.54 per basic share)
compared to $16.6 million ($0.47 per basic share) in 2022. Net
income increased by $2.6 million or 16% over 2022 due to higher
production, lower realized losses and higher unrealized gains on
commodity contracts partially offset by lower prices, and higher
depreciation and income tax expense compared to 2022
- Average production for 2023 was 2,796 BOEPD, an increase of 70%
compared to 2022 production of 1,640 BOEPD. The increase is due to
production from the wells that were drilled and completed in
2023
- The Company’s NPV10 of Total Proved Reserves was $482.6 million
for 2023, which was a 6% decrease from 2022 according to the
Company’s December 31, 2023, independent reserves evaluation, due
primarily to lower estimated future pricing and the 2023
production
- Netback from operations(2) decreased to $42.97 per BOE compared
to $54.56 per BOE in 2022, a decrease of 21%. Netback including
commodity contracts(2) for 2023 was $41.61 per BOE compared to
$47.79 per BOE in 2022, a decrease of 13% from the prior year.
These decreases compared to the prior year were due to lower
average prices of 22%
- Production and operating expense per barrel averaged $6.61 per
BOE in 2023 compared to $8.19 per BOE in 2022, a decrease of 19%.
The decrease was due to increased production which reduced the per
barrel fixed costs as well as lower production taxes
- The net debt of the Company at December 31, 2023 was $29.4
million. As of December 31, 2023, the Company has $10 million of
available borrowing capacity on the credit facility
- The ratio of debt to Adjusted EBITDA was 0.68 at December 31,
2023
(1)
Adjusted EBITDA is considered a non-GAAP
measure. Refer to the section entitled “Non-GAAP Measures” of this
earnings release.
(2)
Netback from operations and netback
including commodity contracts are considered non-GAAP ratios. Refer
to the section entitled “Non-GAAP Measures” of this earnings
release.
Kolibri’s President and Chief Executive Officer, Wolf Regener
commented:
“We are excited about the continued production and cash flow
growth of the Company in 2023 after our transformative year in
2022. The Company increased Adjusted EBITDA(1) by 56% by
successfully drilling and completing eight wells during the year
which increased production by 70%. Management is expecting to build
on the Company’s continued growth in 2024. We drilled two
additional wells in December 2023 and January 2024 that will be
fracture stimulated later in the year. In April, we finished
drilling the Nickel Hill 35-1H and Nickel Hill 35-2H wells (both
62.9% working interest) under budget and faster than we had
forecasted. We expect to begin fracture stimulation operations on
these wells in early May.
“During the first quarter of 2024, the Company reworked three
wells which were impacted by offset fracture stimulations. Wells
that were impacted by offset fracture stimulations reduced
production for the quarter by about 275 BOEPD. Production in the
first quarter averaged about 3,305 BOEPD. At the end of the first
quarter of 2024, production from the impacted wells hadn’t fully
recovered yet, and another two reworks were undertaken in April.
Even with the impacted wells, oil production is tracking above our
year end reserve engineer’s forecast.
“Adjusted EBITDA(1) was $39.1 million in 2023 compared to $25.1
million in 2022, an increase of 56%. This increase was due to a 70%
increase in production and lower realized losses from commodity
contracts partially offset by a 22% decrease in average prices.
“The average production for 2023 was 2,796 BOEPD, an increase of
70% compared to 2022 production of 1,640 BOEPD. The increase is due
to production from the wells that were drilled and completed in
2023.
“Net revenues for 2023 were $50.6 million, an increase of 35%
compared to 2022. This increase was primarily due to a 70% increase
in production partially offset by a 22% decrease in average prices
in 2023 compared to 2022.
“Net income in 2023 was $19.3 million compared to $16.6 million
in 2022, an increase of 16% due to higher production, lower
realized losses and higher unrealized gains on commodity contracts
partially offset by lower prices and higher depreciation and income
tax expense compared to 2022.
“Netback from operations decreased to $42.97 per BOE compared to
$54.56 per BOE in 2022, a decrease of 21%. Netback including
commodity contracts for 2023 was $41.61 per BOE compared to $47.79
per BOE in 2022, a decrease of 13% from the prior year. These
decreases compared to the prior year were due to lower average
prices of 22%.
“Production and operating expense per barrel averaged $6.61 per
BOE in 2023 compared to $8.19 per BOE in 2022, a decrease of 19%.
The decrease was due to increased production which reduced the per
barrel fixed costs and lower production taxes.”
Fourth Quarter
Year Ended
2023
2022
%
2023
2022
%
Net Income:
$ Thousands
$4,797
$2,793
72%
$19,280
$16,643
16%
$ per basic common share
$0.14
$0.08
75%
$0.54
$0.47
15%
Adjusted EBITDA(1)
$10,502
$6,838
53%
$39,080
$25,112
56%
Capital Expenditures
$15,996
$17,184
(7%)
$53,173
$37,097
43%
Average Production (Boepd)
2,842
1,868
52%
2,796
1,640
70%
Gross Revenue
17,192
12,455
38%
64,390
48,376
33%
Average Price per Barrel
$65.76
$72.47
(9%)
$63.10
$80.82
(22%)
Netback from operations per Barrel(2)
$44.40
$48.39
(8%)
$42.97
$54.56
(21%)
Netback including commodity contracts per
Barrel(2)
$43.43
$46.05
(6%)
$41.61
$47.79
(13%)
December 2023
December 2022
Cash and Cash Equivalents
$598
$1,037
Working Capital
$(11,916)
$(6,569)
Borrowing Capacity
10,042
6,842
(1)
Adjusted EBITDA is considered a non-GAAP
measure. Refer to the section entitled “Non-GAAP Measures” of this
earnings release.
(2)
Netback from operations and netback
including commodity contracts are considered non-GAAP ratios. Refer
to the section entitled “Non-GAAP Measures” of this earnings
release.
YEAR ENDED 2023 TO YEAR ENDED 2022
For 2023, oil and gas gross revenues increased $16.0 million or
33% to $64.4 million. Oil revenues before royalties increased by
40% to $59.7 million due to an 73% increase in production partially
offset by a 19% decrease in prices. Natural gas revenues before
royalties decreased by $1.0 million or 37% due to a 59% decrease in
average gas prices partially offset by a 54% increase in natural
gas production. NGL revenue before royalties increased by $0.1
million or 3% due to a 71% increase in production partially offset
by a 40% decrease in average prices.
Average production for 2023 was 2, 796 BOEPD, an increase of 70%
compared to 2022 average production of 1,640 BOEPD due to the wells
drilled during 2023.
Production and operating expenses increased by $1.0 million due
to an increase in production for 2023. Production and operating
expense per barrel averaged $6.61 per BOE in 2023 compared to $8.19
per BOE in 2022, a decrease of 19%. The decrease was due to
increased production which reduced the fixed per barrel costs and
lower production taxes.
Depletion and depreciation expense increased $7.4 million, or
98%, in 2023 due to increased production and a higher PP&E
balance.
General and administrative expenses increased $0.7 million or
21% in 2023 due to higher costs associated with the dual listing
process, higher investor relations and marketing costs and
increases in payroll and director costs.
Finance income increased by $1.3 million due to higher
unrealized gains on financial commodity contracts recorded in
2023.
Finance expense decreased by $1.3 million due to lower realized
losses on commodity contracts in 2023 compared to 2022, partially
offset by higher interest expense in 2023.
FOURTH QUARTER HIGHLIGHTS:
- Adjusted EBITDA(1) was $10.5 million in the fourth quarter of
2023 compared to $6.9 million in 2022, an increase of 53%. This
increase was due to the increase in production partially offset by
the decrease in average prices
- Net revenues for the fourth quarter of 2023 were $13.4 million,
an increase of 38%, compared to the fourth quarter of 2022. This
increase was primarily due to an increase in production partially
offset by a decrease in average prices
- Net income in the fourth quarter of 2023 was $4.8 million,
compared to net income of $2.8 million in the fourth quarter of
2022. The increase was due to higher average production and an
unrealized gain on commodity contracts in 2023 partially offset by
lower average prices and higher income tax expense in 2023
- Average production for the fourth quarter of 2023 was 2,842
BOEPD, an increase of 52% compared to fourth quarter 2022
production of 1,868 BOEPD. The increase is due to production from
the new wells drilled in 2023.
- Netback from operations(2) decreased to $44.40 per BOE in the
fourth quarter of 2023 compared to $48.39 per BOE in the fourth
quarter of 2022, a decrease of 8%. Netback including commodity
contracts(2) for the fourth quarter of 2023 was $43.43 per BOE
compared to $46.05 in the fourth quarter of 2022, a decrease of 6%
from the prior year quarter. The 2023 decreases compared to the
prior year was due to the decrease in average prices
- Production and operating expense per barrel averaged $7.02 per
BOE in the fourth quarter of 2023 compared to $8.25 per BOE in the
fourth quarter of 2022, a decrease of 15%. The decrease was due to
increased production which reduced the per barrel fixed costs.
(1)
Adjusted EBITDA is considered a non-GAAP
measure. Refer to the section entitled “Non-GAAP Measures” of this
earnings release.
(2)
Netback from operations and netback
including commodity contracts are considered non-GAAP ratios. Refer
to the section entitled “Non-GAAP Measures” of this earnings
release.
FOURTH QUARTER 2023 TO FOURTH QUARTER 2022
Gross oil and gas revenues totaled $17.2 million in the fourth
quarter of 2023 versus $12.5 million in the fourth quarter of 2022,
an increase of 38%. Oil revenues were $16.2 million in the fourth
quarter of 2023 versus $11.5 million in the fourth quarter of 2022,
an increase of 41%, due to increased average production partially
offset by lower prices. Natural gas revenues decreased 49% to $0.3
million in the fourth quarter of 2023 due to lower average prices
partially offset by higher production. NGL revenue increased 78% to
$0.7 million due to higher production, partially offset by lower
average prices.
Operating expenses were $1.6 million in the fourth quarter of
2023 compared to $1.4 million in 2022 due to higher production.
General and administrative expenses increased by 6% in the
fourth quarter of 2023 compared to the prior year fourth quarter
due to higher costs associated with the dual listing process and
higher investor relations and marketing costs.
Finance income in the fourth quarter of 2023 increased by $2.2
million from the fourth quarter of 2022 due to an unrealized gain
on commodity contracts in the fourth quarter of 2023.
Finance expense in the fourth quarter of 2023 decreased by $0.9
million from the fourth quarter of 2022 due to an unrealized loss
on commodity contracts in 2022 partially offset by higher interest
expense.
KOLIBRI GLOBAL ENERGY INC.
CONDENSED CONSOLIDATED STATEMENTS
OF FINANCIAL POSITION
(Unaudited, Expressed in
Thousands of United States Dollars)
December 31,
December 31,
2023
2022
Current assets
Cash and cash equivalents
$
598
$
1,037
Trade and other receivables
5,492
5,773
Deposits and prepaid expenses
838
670
6,928
7,480
Non-current assets
Fair value of commodity contracts
78
-
Property, plant and equipment
216,161
176,554
Right of use assets
1,190
48
Total assets
$
224,357
$
184,082
Current liabilities
Trade and other payables
$
17,648
$
12,596
Current lease payable
1,068
32
Fair value of commodity contracts
128
1,421
18,844
14,049
Non-current liabilities
Loans and borrowings
29,612
17,799
Asset retirement obligations
1,966
1,425
Lease payable
162
17
Deferred taxes
3,359
-
Fair value of commodity contracts
-
594
35,099
19,835
Equity
Share capital
296,232
296,221
Contributed surplus
24,179
23,254
Deficit
(149,997
)
(169,277
)
Total equity
170,414
150,198
Total equity and liabilities
$
224,357
$
184,082
KOLIBRI GLOBAL ENERGY INC.
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited, expressed in
Thousands of United States dollars, except per share amounts)
Three months ended
December 31
Year ended
December 31
2023
2022
2023
2022
Revenue:
Oil and natural gas revenue, net
$
13,444
$
9,734
$
50,597
$
37,560
Other income
-
1
2
46
13,444
9,735
50,599
37,606
Expenses:
Production and operating
1,567
1,417
5,895
4,904
Depletion and depreciation
3,506
2,495
15,009
7,581
General and administrative
1,122
1,059
4,243
3,494
Share based compensation
259
45
790
277
6,454
5,016
25,937
16,256
Finance income
2,225
-
1,813
464
Finance expense
(1,059
)
(1,926
)
(3,836
)
(5,171
)
Income tax expense
(3,359
)
-
(3,359
)
-
Net income and comprehensive income
$
4,797
$
2,793
$
19,280
$
16,643
Net income per share
Basic
$
0.14
$
0.08
$
0.54
$
0.47
KOLIBRI GLOBAL ENERGY INC.
FOURTH QUARTER AND YEAR ENDED
2023
(Unaudited, expressed in
Thousands of United States dollars, except as noted)
4th Quarter
Year Ended Dec. 31
2023
2022
2023
2022
Oil revenue before royalties
$
16,212
$
11,478
$
59,749
$
42,795
Gas revenue before royalties
305
598
1,742
2,759
NGL revenue before royalties
675
379
2,899
2,822
17,193
12,455
64,390
48,376
Adjusted EBITDA(1)
10,502
6,854
39,080
25,112
Additions to PP&E
15,996
17,184
53,173
37,097
Statistics:
4th Quarter
Year Ended Dec. 31
2023
2022
2023
2022
Average oil production (Bopd)
2,245
1,551
2,144
1,241
Average natural gas production (mcf/d)
1,428
969
1,630
1,061
Average NGL production (Boepd)
359
155
380
222
Average production (Boepd)
2,842
1,868
2,796
1,640
Average oil price ($/bbl)
$
78.51
$
80.42
$
76.34
$
94.46
Average natural gas price ($/mcf)
$
2.32
$
6.71
$
2.93
$
7.12
Average NGL price ($/bbl)
$
20.41
$
26.66
$
20.89
$
34.88
Average price per barrel
$
65.76
$
72.47
$
63.10
$
80.82
Royalties per barrel
14.34
15.83
13.52
18.07
Operating expenses per barrel
7.02
8.25
6.61
8.19
Netback from operations(2)
$
44.40
$
48.39
$
42.97
$
54.56
Price adjustment from commodity contracts
(Boe)
(0.97
)
(2.34
)
(1.36
)
(6.77
)
Netback including commodity contracts
(Boe)(2)
$
43.43
$
46.05
$
41.61
$
47.79
(1)
Adjusted EBITDA is considered a non-GAAP
measure. Refer to the section entitled “Non-GAAP Measures” of this
earnings release.
(2)
Netback from operations and netback
including commodity contracts are considered non-GAAP ratios. Refer
to the section entitled “Non-GAAP Measures” of this earnings
release.
The information outlined above is extracted from and should be
read in conjunction with the Company's audited financial statements
for the year ended December 31, 2023 and the related management's
discussion and analysis thereof, copies of which are available
under the Company's profile at www.sedarplus.ca.
NON-GAAP MEASURES
Netback from operations, netback including commodity contracts
and adjusted EBITDA (collectively, the "Company’s Non-GAAP
Measures") are not measures or ratios recognized under Canadian
generally accepted accounting principles ("GAAP") and do not have
any standardized meanings prescribed by IFRS. Management of the
Company believes that such measures and ratios are relevant for
evaluating returns on each of the Company's projects as well as the
performance of the enterprise as a whole. The Company's Non-GAAP
Measures may differ from similar computations as reported by other
similar organizations and, accordingly, may not be comparable to
similar non-GAAP measures and ratios as reported by such
organizations. The Company’s Non-GAAP Measures should not be
construed as alternatives to net income, cash flows related to
operating activities, working capital or other financial measures
and ratios determined in accordance with IFRS, as an indicator of
the Company's performance.
An explanation of how the Company’s Non-GAAP Measures provide
useful information to an investor and the purposes for which the
Company’s management uses the Non-GAAP Measures is set out in the
management's discussion and analysis under the heading “Non-GAAP
Measures” which is available under the Company's profile at
www.sedarplus.ca and is incorporated by reference into this
earnings release.
The following is the reconciliation of the non-GAAP ratio
netback from operations to net income, which the Company considers
to be the most directly comparable financial measure that is
disclosed in the Company’s financial statements:
(US $000)
Year ended
December 31,
2023
2022
Net income
19,280
16,643
Adjustments:
Finance income
(1,813
)
(464
)
Finance expense
3,836
5,171
Stock based compensation
790
277
General and administrative expenses
4,243
3,494
Income tax expense
3,359
-
Depletion, depreciation and
amortization
15,009
7,581
Other income
(2
)
(46
)
Operating netback
44,702
32,656
Netback from operations
$54.56
$54.56
The following is the reconciliation of the non-GAAP measure
adjusted EBITDA to the comparable financial measures disclosed in
the Company’s financial statements:
(US $000)
Year Ended December 31,
2023
2022
Net income
19,280
16,643
Depletion and depreciation
15,009
7,581
Accretion
183
34
Interest expense
2,263
1,070
Unrealized (gain) loss on commodity
contracts
(1,813
)
(461
)
Share based compensation
790
277
Interest income
-
(3
)
Income tax expense
3,359
-
Other income
(2
)
(46
)
Foreign currency loss
11
17
Adjusted EBITDA
39,080
25,112
CAUTIONARY STATEMENTS
In this news release and the Company’s other public
disclosure:
(a)
The Company's natural gas production is
reported in thousands of cubic feet ("Mcfs"). The Company
also uses references to barrels ("Bbls") and barrels of oil
equivalent ("Boes") to reflect natural gas liquids and oil
production and sales. 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.
(b)
Discounted and undiscounted net present
value of future net revenues attributable to reserves do not
represent fair market value.
(c)
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.
(d)
The Company discloses peak and 30-day
initial production rates and other short-term production rates.
Readers are cautioned that such 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's December 31, 2022 independent reserves evaluation and
other oil and gas information contained in its amended and restated
Form 51-101F1 Statement of Reserves Data and Other Oil and Gas
Information for the year ended December 31, 2023, which the Company
filed on SEDAR on March 25, 2024.
Caution Regarding Forward-Looking Information
This release contains forward-looking information including
estimates of reserves, the proposed timing and expected results of
exploratory and development work including fracture stimulation and
production from the Company's Tishomingo field, Oklahoma acreage,
the future performance of wells including following shut-in’s and
restart of well(s), the expected effects of cost reduction efforts,
forecasts regarding the Company’s 2024 drilling program including
expected capital expenditures, annual average production, net
revenues, adjusted EBITDA, and net debt at year end, availability
of funds from the Company’s reserves based loan facility, and the
Company’s strategy and objectives. The use of any of the words
“target”, “plans”, "anticipate", "continue", "estimate", "expect",
"may", "will", "project", "should", "believe", “intend” and similar
expressions are intended to identify forward-looking
statements.
Such forward-looking information is based on management’s
expectations and assumptions, including that the Company's geologic
and reservoir models and analysis will be validated, that
indications of early results are reasonably accurate predictors of
the prospectiveness of the shale intervals, that previous
exploration results are indicative of future results and success,
that expected production from future wells can be achieved as
modeled, declines will match the modeling, future well production
rates will be improved over existing wells, that rates of return as
modeled can be achieved, that recoveries are consistent with
management’s expectations, including that new production will
perform per a type curve which is similar to NSAI’s December 2023
proved type curve, that additional wells are actually drilled and
completed, that design and performance improvements will reduce
development time and expense and improve productivity, that
discoveries will prove to be economic, that anticipated results and
estimated costs will be consistent with managements’ expectations,
that all required permits and approvals and the necessary labor and
equipment will be obtained, provided or available, as applicable,
on terms that are acceptable to the Company, when required, that no
unforeseen delays, unexpected geological or other effects,
equipment failures, permitting delays or labor or contract disputes
are encountered, that the development plans of the Company and its
co-venturers will not change, 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 financings, credit facilities, farm-ins or other
participation arrangements to maintain its projects, that the
Company will continue in compliance with the covenants under its
reserves-based loan facility, that the Company will not be
adversely affected by changing government policies and regulations,
social instability or other political, economic or diplomatic
developments in the countries in which it operates and that global
economic conditions will not deteriorate in a manner that has an
adverse impact on the Company's business and its ability to advance
its business strategy.
Forward looking information involves significant known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated. These risks include,
but are not limited to: any of the assumptions on which such
forward looking information is based vary or prove to be invalid,
including that the Company’s geologic and reservoir models or
analysis are not validated, anticipated results and estimated costs
will not be consistent with managements’ expectations, 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), the risk of
commodity price and foreign exchange rate fluctuations, risks and
uncertainties associated with securing the necessary regulatory
approvals and financing to proceed with continued development of
the Tishomingo Field, 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 completion techniques require further
optimization, that production rates do not match the Company’s
assumptions, that very low or no production rates are achieved,
that the price of oil will decline, that the Company will cease to
be in compliance with the covenants under its reserves-based loan
facility and be required to repay outstanding amounts or that the
borrowing base will be reduced pursuant to a borrowing base
re-determination and the Company will be required to repay the
resulting shortfall, that the Company is unable to access required
capital, that funding is not available from the Company’s reserves
based loan facility at the times or in the amounts required for
planned operations, 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 identified in the Company’s most recent Annual
Information Form under the “Risk Factors” section, the Company’s
most recent management's discussion and analysis and the Company’s
other public disclosure, available under the Company’s profile on
SEDAR at www.sedarplus.ca.
With respect to estimated reserves, the evaluation of the
Company’s reserves is based on a limited number of wells with
limited production history and includes a number of assumptions
relating to factors such as availability of capital to fund
required infrastructure, commodity prices, production performance
of the wells drilled, successful drilling of infill wells, the
assumed effects of regulation by government agencies and future
capital and operating costs. All of these estimates will vary from
actual results. Estimates of the recoverable oil and natural gas
reserves attributable to any particular group of properties,
classifications of such reserves based on risk of recovery and
estimates of future net revenues expected therefrom, may vary. The
Company's actual production, revenues, taxes, development and
operating expenditures with respect to its reserves will vary from
such estimates, and such variances could be material. In addition
to the foregoing, other significant factors or uncertainties that
may affect either the Company’s reserves or the future net revenue
associated with such reserves include material changes to existing
taxation or royalty rates and/or regulations, and changes to
environmental laws and regulations.
Although the Company has attempted to take into account
important factors that could cause actual costs or results to
differ materially, there may be other factors that cause actual
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. The forward-looking information
included in this release is expressly qualified in its entirety by
this cautionary statement. Accordingly, readers should not place
undue reliance on forward-looking information. The Company
undertakes no obligation to update these forward-looking
statements, other than as required by applicable law.
About Kolibri Global Energy Inc.
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, gas and clean and sustainable energy.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240502424768/en/
Wolf E. Regener, President and Chief Executive Officer +1 (805)
484-3613 Email: investorrelations@kolibrienergy.com Website:
www.kolibrienergy.com
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