Kolibri Global Energy Inc. (the "Company" or Kolibri") (TSX:KEI, NASDAQ:KGEI) is pleased to provide an operations update on its upcoming wells in its Tishomingo field in Oklahoma and 2026 forecast based on the Company's current drilling program.
Operations & Corporate Update
The Company has accelerated the timeline on its previously announced plan to drill three 1.5-mile lateral wells, the Clifton Mac 11-14-1H, Clifton Mac 11-14-2H, and Clifton Mac 11-14-3H. The multi-well pad has been built, surface pipe for the three wells is being installed, and the drilling rig is expected to move in later this week to begin drilling next week.
Based on this new drilling timeline, the Company is forecasting the following results, assuming a $74 oil price for the rest of the year.
2026 Base Forecast | % Increase from Fiscal Year 2025 | |
| Average production | 4,400 to 4,800 boepd | 10% to 20% |
| Revenue(1) | US$74 million to US$79 million | 30% to 39% |
| Adjusted EBITDA(2) | US$55 million to US$60 million | 31% to 43% |
| Capital Expenditures | US$24 million to US$27 million | |
| Net Debt at December 2026 | US$25 million to US$30 million |
| (1) | Assumptions include forecasted pricing for April - December 2026 of WTI US $74/bbl, $3.50 Henry Hub and NGL pricing of $29.60/boe and includes the impact of the Company's existing hedges and a 67% working interest in the Clifton Mac wells. | |
| (2) | Adjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled "Non-GAAP Measures" of this news release. |
Wolf Regener, President and CEO, commented, "This base forecast, which only assumes the drilling of 3 wells, generates an Adjusted EBITDA of $55 to $60 million on capital expenditures of $24 to $27 million. Our revenue increases by over 30 percent from 2025 with this minimal drilling program and is based on an oil price of $74 per barrel. We used this conservative oil price assumption in the forecast due to the recent oil price volatility. We will generate significantly more revenue and cash flow if oil prices increase, as each $5 increase from the assumed $74 price would increase our forecasted Adjusted EBITDA by $2.8 million. This base case forecast, using what we hope are very conservative oil prices for the year, demonstrates the Company's strong cash flow generation and flexibility. The cash flow generated will be used to pay down debt, return capital to shareholders, and also provides us with the ability to drill more wells this year. If oil prices remain elevated above our base forecast case, this would result in even greater free cash flow and provide us with more options.
"I am very excited that we are starting to drill these Clifton Mac wells earlier than originally anticipated, especially with the recent spike in oil prices. In addition, we are working to secure locations and build additional multi-well pads so that more wells could be drilled this year if the Company decides to do so."
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