Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. PROVIDES OPERATIONS AND CORPORATE UPDATE

Kolibri Global Energy Inc. has provided 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 and 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 multiwell 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.

Wolf Regener, president and chief executive officer, commented: "This base forecast, which only assumes the drilling of three wells, generates an adjusted EBITDA of $55[-million] to $60-million on capital expenditures of $24[-million] to $27-million. Our revenue increases by over 30 per cent 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 multiwell pads so that more wells could be drilled this year if the company decides to do so."

Oil & Gas Virtual Investor Conference

Mr. Regener and Gary Johnson, chief financial officer and vice-president, are scheduled to present live at the Oil & Gas Virtual Investor Conference at 2:30 p.m. Eastern Time on April 16, 2026.

Louisiana Energy Conference

Mr. Regener is scheduled to be on a panel on Wednesday, May 27, 2026, at the 26th Louisiana Energy Conference, which takes place at the Four Seasons Hotel in New Orleans from May 26, 2026, through May 28, 2026. Both Mr. Regener and Mr. Johnson will be attending the conference, where they will be hosting one-on-one meetings.

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 and gas. 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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