Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. ANNOUNCES A 30 PERCENT BANK LINE INCREASE, RUSSELL 2000 INCLUSION AND OPERATIONS UPDATE

Kolibri Global Energy Inc. has provided an update.

Credit facility

The available borrowing base of the company's indirect wholly owned subsidiary, Kolibri Energy U.S. Inc., was increased from $50-million (U.S.) to $65-million (U.S.) on its revolving line of credit. This was a 30-per-cent increase on the credit facility, which is held by a bank syndicate that is led by BOK Financial (BOKF) and now includes Arvest Bank. All other terms of the credit facility remain the same. The current outstanding amount drawn on the credit facility is $30.5-million (U.S.).

Russell 2000 Index

Kolibri is expected to be included in the Russell 2000 Index at the conclusion of the 2025 Russell indexes annual reconstitution, according to a preliminary list of additions posted by FTSE Russell on June 20, 2025. The inclusion in the index will take effect after the U.S. market opens on June 27, 2025.

Membership in the Russell 2000 Index, which remains in place for one year, includes inclusion in the appropriate growth and value style indexes. FTSE Russell is a leading global index provider and membership for its Russell indexes is determined primarily by objective, market-capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. As of May, 2025, approximately $10.6-trillion in assets are benchmarked to a Russell index.

Operations update

The Lovina 9-16-1H, Lovina 9-16-2H, Lovina 9-16-3H and Lovina 9-16-4H wells (100-per-cent working interest) are currently being fracture stimulated. The completion operations are proceeding well, even though they were off to a slower-than-anticipated start due to the heavy rains, which caused flooding and other issues earlier in the month. The wells are anticipated to begin production in July.

The Forguson 17-20-3H well has been successfully drilled and will be fracture stimulated after the Lovina wells have been completed. Kolibri is operator and has a 46-per-cent working interest in this well, which is testing the economics of the company's eastern acreage, which comprises 3,000 acres.

Wolf Regener, president and chief executive officer, commented: "We are very pleased to have BOKF's continued support and appreciate the new support from Arvest Bank, who joined the syndicate. The 30-per-cent increase in our borrowing base provides us with more working capital flexibility and supports our production and cash flow growth initiatives and continues to demonstrate the value of the field.

"We are also excited that inclusion in the Russell 2000 index will further improve the visibility of our company among investors. This is a significant milestone for us, which we believe is a result of our successful efforts to increase shareholder value.

"The fracture stimulation of the four Lovina wells is progressing well and we are looking forward to the completion of these wells and the Forguson well.

"The east-side acreage, where the Forguson well is located and Kolibri has approximately 3,000 net acres, is not included in the Dec. 31, 2024, reserve report. The Caney target for the Forguson well has very similar characteristics and thickness as in the main part of the field in Kolibri's proved acreage, except that it is shallower. If the Forguson well proves to be economic, in addition to adding cash flow, it could lead to many additional development locations for the company.

"We are looking forward to the additional production from all of these wells, which we expect will significantly increase the company's cash flow. We believe our 2025 drilling program as well as the continuation of our normal course issuer bid share buyback program will continue to add incremental value to our shareholders."

Virtual non-deal road show

Mr. Regener and Mr. Johnson will be participating in Remark's virtual non-deal road show for Houston on June 30, 2025. Investors can join the presentation by registering in advance on Renmark's website. A replay of the presentation will also be available through a link on Kolibri's website in the next week.

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 Stock Market under the stock symbol KGEI.

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