Mr. Wolf Regener reports

KOLIBRI GLOBAL ENERGY INC. ANNOUNCES OPERATIONS UPDATE

Kolibri Global Energy Inc. has provided an operations update on its latest wells in its Tishomingo field in Oklahoma.

Lovina wells

The initial 30-day average production rate for the Lovina 9-16-1H well is 565 barrels of oil equivalent per day (BOEPD) with 463 barrels of oil per day (BOPD), the Lovina 9-16-2H is 629 BOEPD with 510 BOPD, the Lovina 9-16-3H well is 510 BOEPD with 413 BOPD, and the Lovina 9-16-4H is 428 BOEPD with 355 BOPD. The combined 30-day production rates from the four wells is higher than the company's previously disclosed early initial production rates, with the 3H production rate increasing 22 per cent and the 4H rate increasing 33 per cent from those initial rates. The Lovina wells are continuing to produce much higher percentages of oil than many of the company's previously drilled wells, as they are only producing about 7-per-cent natural gas. The higher oil percentage and longer well lengths, combined with the company's controlled and conservative flowback, should lead to lower decline rates for these wells.

Forguson well

The Forguson 17-20-3H well is continuing to flow back the fracture stimulation fluid and is currently making about 160 BOEPD with 115 BOPD. As expected, the flowback is taking longer than the company's other wells in the field since this well is shallower. Only about 2.6 per cent of the fracture stimulation fluid has been recovered, and the well has continued to improve as more fracture stimulation fluid is being recovered. As a comparison, the four Lovina wells have recovered between 7 per cent and 10 per cent of their fracture stimulation fluid. Kolibri is operator and has a 46-per-cent working interest in this well, which is testing the economics of the company's 3,000 acres that is located on the eastern side of our acreage.

Barnes 6-31-2H and 6-31-3H wells

Casing is currently being run in the Barnes 6-31-2H after which the rig will move over to drill the Barnes 6-31-3H well. These wells are both planned to be 1.5-mile laterals with Kolibri having a 100-per-cent working interest in both wells. Once the drilling of these wells is complete, completion operations are planned to be at the same time as with the previously drilled Velin wells.

Wolf Regener, president and chief executive officer, commented: "Operations on all fronts are proceeding well. The high oil percentage from the Lovina wells is expected to lead to higher netbacks for the company and slower decline rates. For the Forguson well, we will continue monitoring the flowback and look forward to seeing the ultimate productivity of this well on our east side acreage.

"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 additional development locations for the company.

"We are looking forward to the additional production and cash flow from all of these wells, which we expect will significantly increase the company's cash flow and add incremental value to our shareholders."

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 Nasdaq under the stock symbol KGEI.

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