Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. ANNOUNCES BANK LINE INCREASE TO US$40 MILLION

Kolibri Global Energy Inc.'s indirect wholly owned subsidiary BNK Petroleum (U.S.) Inc. (BNK U.S.) has obtained an increase in its borrowing base from $25-million (U.S.) to $40-million (U.S.) on its revolving line of credit from BOK Financial (BOKF). The current outstanding amount drawn on the credit facility is $18.2-million (U.S.).

Wolf Regener, president and chief executive officer, commented: "We are very pleased to have BOKF's continued support and belief in our project and our team as we accelerate the development of our Tishomingo field. This 60-per-cent increase in our borrowing base provides us more flexibility and supports our production and cash flow growth initiatives."

The increase in available borrowing capacity gives BNK U.S. the ability to draw down an additional $21.8-million (U.S.) for the further development of the company's Tishomingo field in Oklahoma. The credit facility provides for interest-only payments until the June, 2026, maturity date, with biannual scheduled reserve redeterminations.

Webinar

The company will be presenting at a webinar at 2 p.m. EST later today, May 10, 2023, to discuss its first quarter results and a general corporate update. To participate, please register in advance.

About Kolibri Global Energy Inc.

Kolibri Global Energy is a North American energy company focused on finding and exploiting energy projects in oil, gas, and clean and sustainable energy. 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. The company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQX under the stock symbol KGEIF.

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