Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. ANNOUNCES THREE MORE SUCCESSFUL WELLS ADDING OVER 1,500 BOEPD TO PRODUCTION

Kolibri Global Energy Inc. has provided an update on three more successful wells in its Tishomingo field in Oklahoma, which have been adding over 1,500 barrels of oil equivalent per day to the company's production.

2023 drilling program

The Barnes 8-1H, 8-2H and 8-3H wells were drilled and completed under budget and are still cleaning up after the fracture stimulations. The two Caney formation wells, Barnes 8-1H and 8-2H, have produced at a 12-day average rate of 465 barrels of oil equivalent per day (375 barrels of oil per day) and 565 barrels of oil equivalent per day (455 barrels of oil per day), respectively. For the last five days, the Barnes 8-1H well has averaged 500 barrels of oil equivalent per day (400 barrels of oil per day) and the Barnes 8-2H well has averaged 590 barrels of oil equivalent per day (470 barrels of oil per day). These wells were the first down-spacing wells in the field and were drilled at a six-well-per-section spacing pattern with the Barnes 8-1H well in the upper Caney and the Barnes 8-2H well in the lower Caney.

The Barnes 8-3H well, which is in the T-zone formation and is located under and between the Barnes 8-1H and 8-2H wells, has an 11-day average rate of 445 barrels of oil equivalent per day (315 barrels of oil per day) and has averaged 490 barrels of oil equivalent per day (340 barrels of oil per day) for the last five days, with the last two days at 570 barrels of oil equivalent per day (390 barrels of oil per day).

Production optimization is currently in progress on all three of the wells.

Wolf Regener, president and chief executive officer, commented: "We are very pleased to have these three wells on production and look forward to seeing how they continue to perform. While it's early, these wells are on track to confirm our belief that the down spacing of the field is economic, which would enable much more production from this field. The T-zone Barnes 8-3H well is also exciting for us as it is producing at higher oil rates than our previous T-zone wells and is not currently showing signs of decline. Achieving commercial rates from the T-zone could add many additional well locations and reserves that are not currently reflected in our reserve estimates. The T-zone formation is present over our entire acreage block and is thus potentially very significant to the company. Over the coming months, we will be gathering data from these wells, which will be used to further optimize reserve recoveries from the field.

"The Barnes 8-1H, 8-2H and 8-3H were drilled, completed and had facilities built at an average cost of approximately $6.5 million, which is $700,000 below our $7.2-million estimated cost.

"The drilling rig for the next two wells, the Barnes 7-4H and Barnes 7-5H, is expected to move in tomorrow, with drilling expected to start early next week. Both of these wells will be drilled in the Caney formation."

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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