Kolibri Global Energy Inc. - KGEIF STOCK NEWS

Kolibri Global Energy Inc. (TSX: KEI, OTCQB: KGEIF) has initiated completion operations on the Barnes 7-3H well in Oklahoma's Tishomingo field, holding a 98.07% working interest. CEO Wolf Regener stated that more than half of the completion stages are finished, with expectations to complete operations within the week. The company anticipates stabilizing production rates soon, influenced by current high market prices. This advancement aligns with their strategy of leveraging unhedged pricing for new production.

Kolibri Global Energy Inc. (TSX: KEI, OTCQB: KGEIF) announced its subsidiary BNK Petroleum (US) Inc. has successfully drilled the Barnes 8-4H well in Oklahoma. The well was completed 4 days faster than a previous well, Barnes 7-3H. Completion operations for the Barnes 7-3H well will start on February 25, with production expected in March. CEO Wolf Regener expressed confidence in their drilling capabilities, noting favorable hydrocarbon shows from the drilling process.

Kolibri Global Energy Inc. (KGEIF) announced that its subsidiary, BNK Petroleum (US) Inc., has successfully drilled the Barnes 7-3H well in Oklahoma, with completion set for mid-February and production expected in March. The company anticipates a netback of over USD 49 per BOE from this well, significantly higher than the previous USD 35.87 per BOE reported for Q3 2021. The drilling rig will move to the Barnes 8-4H well following this success, which is expected to take less than 30 days to complete.

Kolibri Global Energy Inc. (TSX: KEI, OTCQB: KGEIF) announced the conclusion of its rights offering on December 29, 2021. In this Offering, insiders acquired a total of 15,520,080 shares through basic subscription and 50,327,366 shares via additional subscription privileges. The only insider reported from this Offering is Polygon Global Partners LLP. Kolibri focuses on energy projects across oil, gas, and sustainable energy, operating mainly in the United States.

Kolibri Global Energy Inc. (KGEIF) has announced the commencement of drilling at the Barnes 7-3H well in Oklahoma's Tishomingo field via its subsidiary, BNK Petroleum (US) Inc.. The drilling is expected to conclude within 30 days, followed by immediate drilling at the Barnes 8-1H well. The CEO, Wolf Regener, expressed gratitude for shareholder support, highlighting the potential for significant cash flow increases from these wells based on prior performance. The company aims to leverage lessons from past wells to meet or exceed expected production metrics.

Kolibri Global Energy Inc. (TSX:KEI, OTCQB:KGEIF) successfully completed its rights offering, which concluded on December 29, 2021, raising approximately CAD$8.6 million. The funds will be utilized to drill and complete two wells in the Tishomingo Field, Oklahoma. A total of 32,017,670 common shares were issued under basic subscription privileges, along with 87,647,375 under additional subscription privileges. Following the offering, the total number of issued common shares will reach 356,159,098.

Kolibri Global Energy Inc. (TSX: KEI) has announced a drilling contract for the Barnes 7-3H well, set to begin in January. The well is strategically located in a productive area, with the company optimistic about the potential to exceed performance expectations based on past learnings. CEO Wolf Regener highlighted that this could enhance the company’s cash flow and shareholder value. The construction at the well site is expected to finish within a week, ensuring timely commencement of drilling activities.

Kolibri Global Energy Inc. (TSX:KEI) announces a rights offering to raise approximately C$8.86 million by issuing 126,585,714 Common Shares at C$0.07 each. Shareholders as of December 1, 2021 will receive one Right per share, allowing the purchase of 0.5435 Common Shares. The offering will use proceeds for a new drilling program in the Tishomingo Field, with potential borrowing base increase by US$2,000,000 from BOK Financial if conditions are met. The rights will expire on December 29, 2021.