Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. ANNOUNCES BANK LINE REDETERMINATION

The borrowing base of Kolibri Global Energy Inc.'s indirect wholly owned subsidiary BNK Petroleum (U.S.) Inc. (BNK U.S.) has been reaffirmed at $40-million (U.S.) on its revolving line of credit from BOK Financial (BOKF). The current outstanding amount drawn on the credit facility is $29-million (U.S.).

The credit facility was also amended to allow cash distributions from BNK U.S. to Kolibri, subject to certain conditions which include: (1) 70 per cent or less of the borrowing base of the loan remains outstanding after the distribution; and (2) the maximum leverage ratio on a pro forma basis immediately before and after the distribution is less than or equal to 1.25 to 1.00. The amendments also reduced the minimum term of the hedging contracts the company is required to put in place from 24 months to 18 months.

Wolf Regener, president and chief executive officer, commented: "We are very pleased to have BOKF's continued support as we continue to accelerate the development of our Tishomingo project. These changes would allow the company to potentially return capital to shareholders in the future and provide us with greater flexibility for our hedging strategy."

The credit facility provides for interest-only payments until the June, 2026, maturity date, with biannual scheduled reserve redeterminations.

About Kolibri Global Energy Inc.

Kolibri Global Energy 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.

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