Kolibri Global Energy Inc. Provides Third Quarter 2024 Earnings Release and Conference Call Dates and Operations Update

Rhea-AI Summary

Kolibri Global Energy (NASDAQ: KGEI) has announced its Q3 2024 earnings release date for November 12, 2024, after market close, with a conference call scheduled for November 13, 2024, at 9:00 a.m. PST. The company also provided an operations update on the Alicia Renee wells (2-11-3H, 2-11-4H, and 2-11-5H), which were successfully completed and are currently in the flowback phase. CEO Wolf Regener noted that the wells were completed under budget and expects these longer lateral wells to improve efficiency and returns.

Positive

• Wells completed under budget
• Expected increase in cash flow from new wells
• Successful completion of three new wells

Negative

• None.

THOUSAND OAKS, Calif.--(BUSINESS WIRE)-- Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, NASDAQ: KGEI) is pleased to provide the following updates.

Third Quarter 2024 Earnings Release and Earnings Call

The Company expects to release financial and operating results for its second quarter after market close on November 12, 2024.

In connection with the earnings release, management will host a conference call for investors and analysts on November 13, 2024, at 9:00 a.m. PST to discuss the Company’s results and to host a Q&A session. Interested parties are invited to participate by calling:

Dial-In: 1-877-317-6789
International Dial-In: 1-412-317-6789
When calling, please request to be joined into the Kolibri Global Energy Inc. call.

Alicia Renee Wells Operations Update

The Alicia Renee 2-11-3H, 2-11-4H and 2-11-5H wells were all successfully completed and are currently flowing back fracture stimulation fluid. The Company intends to provide an update on the initial production once the wells have cleaned up and the oil and gas rates have stabilized.

Wolf Regener, President and CEO, commented, “We are very pleased that the wells were drilled and completed safely, successfully and underbudget. We look forward to further increasing our cash flow when the wells come on production. Our objective with these longer lateral wells is to achieve further improvements in our efficiency and rates of return.”

About Kolibri Global Energy Inc.

Kolibri Global Energy Inc. 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.

Cautionary Statements

Caution Regarding Forward-Looking Information

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws and “forward-looking statements” within the meaning of United States securities laws (collectively, “forward looking information”), including statements regarding the timing of release of the Company’s financial and operating results for its third quarter and the timing of and expected results from planned wells development. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator’s operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the price of oil will be sustained or increase, that the Company will continue to be able to access sufficient capital through cash flow, debt, financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays, labor or contract disputes or shortages of equipment, labor or materials are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator’s operations have unexpected adverse effects on the Company’s operations, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the price of oil will decline, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241107128799/en/

For further information, contact:

Wolf E. Regener +1 (805) 484-3613

Email: wregener@kolibrienergy.com

Website: www.kolibrienergy.com

Source: Kolibri Global Energy Inc.

FAQ

When will Kolibri Global Energy (KGEI) release Q3 2024 earnings?

Kolibri Global Energy will release Q3 2024 earnings after market close on November 12, 2024.

What is the status of Kolibri Global Energy's (KGEI) Alicia Renee wells?

The Alicia Renee 2-11-3H, 2-11-4H, and 2-11-5H wells have been successfully completed and are currently flowing back fracture stimulation fluid.

When is Kolibri Global Energy's (KGEI) Q3 2024 earnings conference call?

The Q3 2024 earnings conference call is scheduled for November 13, 2024, at 9:00 a.m. PST.