Kolibri Global Energy (KGEI) Valuation Update - Feb 29

[dan_s]

I made a few minor changes to my forecast/valuation model for KGEI and posted the update to the EPG website.
My valuation is $6.50, but their 2023 reserve report should show a PV10 NAV over at least $10/share.

Upstream companies should not trade at such a deep discount to their PV10 NAV, especially when Netherland Sewell is the firm coming up with their reserve valuations.
> Strong Balance Sheet
> Incredible amount of "Running Room" for a company of this size. < 180 low-risk development drilling locations, 60 proved locations.
> Operating cash flow funding strong production growth year-after-year.
> Based on my forecast, they should generate $10 million of FCF this year.
> Dividends likely to start late this year.
> Recently hired a new U.S. based IR firm to help them get more exposure.

If you were not on the live webinar this morning, you definitely should watch the replay.

[dan_s]

Recent analyst report from Roth MKM shows their price target is $7.30US for KGEI.