Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. GLENN 16-3H WELL AVERAGES JUST UNDER 1,000 BOEPD IN THE FIRST 30 DAYS OF PRODUCTION

Kolibri Global Energy Inc. has provided an update on the 30-day initial production rate (IP30) of its Glenn 16-3H well in its Tishomingo field in Oklahoma.

Glenn 16-3H well

The Glenn 16-3H well (100-per-cent working interest) has averaged about 990 barrels of oil equivalent (boepd) for 30 production days while the well has been flowing back the completion stimulation fluid.

Wolf Regener, president and chief executive officer, commented: "The IP30 of the Glenn 16-3H well, along with the previous wells from our 2022 drilling program, have all far exceeded our expectations.

"We look forward to drilling our next wells later this quarter, as we have signed a drilling rig contract, where the rig is expected to arrive around the beginning of March, 2023.

"To put this excellent well result in perspective, the forecasted 30-day proved curve case (IP30) utilized by our third party engineering firm for our Dec. 31, 2021, reserve report was 388 boepd (reserve report IP30), while the initial 30-day type curve used by the company's management for wells in the corridor assumes a 472 boepd IP30 rate (management IP30). The Glenn 16-3H well's IP30 is about 2.5 times higher than the reserve report IP30, which is similar to the Brock 9-3H well's IP30 which we announced on Jan. 9, 2023."

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.

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