Kolibri talks early results from Barnes, Velin wells

Executive Summary

• Kolibri Global Energy Inc. provided an operations update on its latest wells in the Tishomingo field in Oklahoma, highlighting improved production rates and high oil percentages for the Barnes wells.
• The Barnes 6-31-2H and Barnes 6-4H wells are performing above expectations, with the Barnes 6-31-2H well showing a 22% higher boepd rate compared to the earlier Lovina wells on a comparable lateral length basis.
• The Velin wells are continuing to improve despite slower cleanup, attributed to extended shut-in periods and unique geological features such as natural healed fractures and faulting.

Key Details

• Barnes 6-31-2H Well:
  • 100% working interest.
  • 1.5-mile lateral.
  • 30-day average rate: 529 boepd (448 bopd).
  • Last five days average: 529 boepd (529 bopd).
  • Oil percentage: Approximately 83%.
• Barnes 6-4H Well:
  • 100% working interest.
  • 1-mile lateral.
  • 30-day average rate: 452 boepd (374 bopd).
  • Last five days average: 451 boepd (374 bopd).
  • Oil percentage: Approximately 83%.
  • Performance: Producing at a boepd rate 22% higher than the Lovina wells at the same stage of production life.
• Velin 12-9H Well:
  • 97% working interest.
  • 1-mile lateral.
  • 30-day average rate: 257 boepd (187 bopd).
  • Last five days average: 283 boepd (198 bopd).
• Velin 12-10H Well:
  • 97% working interest.
  • 1-mile lateral.
  • 30-day average rate: 176 boepd (125 bopd).
  • Last five days average: 233 boepd (166 bopd).
• Operational Context:
  • Velin wells were shut in longer than normal due to close proximity to the Barnes wells during fracture stimulation.
  • Geological differences in the Velin location include increased natural healed fractures and small-scale faulting, potentially due to adjacency to a large structural uplift.
• Financial & Strategic Updates:
  • November oil production mix was over 75%, compared to 66% in the third quarter.
  • Company is continuing share buybacks in the market.
  • Planning to pay down line of credit in the first quarter.
  • Anticipates lower decline rates due to high oil percentage, supporting strong forecasted internal rate of return (IRR).
• Upcoming Events:
  • Wolf Regener (CEO) and Gary Johnson (CFO) will participate in the Sidoti Virtual Investor Conference on Jan. 21 and Jan. 22, 2026.
  • Wolf Regener and Gary Johnson will participate in Renmark's virtual non-deal road show on Jan. 28, 2026, at 9 a.m. Pacific Time.

Notable Quotes

• "It is great to see the wells improve further from our early press release and that the Barnes wells have the high oil percentage similar to the Lovina wells we drilled earlier in the year, which helps improve the company's netbacks." — Wolf Regener, President and CEO
• "We also anticipate that the high oil percentage will lead to lower decline rates, much like the Lovina wells have demonstrated, which is resulting in the strong forecasted internal rate of return (IRR) as we noted in our Dec. 22, 2025, press release." — Wolf Regener, President and CEO