Kolibri Global Energy (KGEI) Update - Apr 5

[dan_s]

This is good news.

THOUSAND OAKS, Calif., April 04, 2024--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the "Company" or "KEI") (TSX: KEI, NASDAQ: KGEI) is pleased to announce that drilling is underway in the Company’s Tishomingo field in Oklahoma.

Drilling began this week on the Nickel Hill 35-1H well and will be followed by the rig sliding over to drill the Nickel Hill 35-2H well. The Company will have a 62.9% working interest in these wells, with a large integrated oil company participating with their ownership interest.

Wolf Regener, President and CEO commented, "We are pleased to be continuing our 2024 drilling program and anticipate that both of these wells will be completed at the same time in May. We look forward to getting these wells on production to increase our cash flow further."

[jlabadie1]

Hi Dan,
What are your thoughts on the reference to the shared interest in this set of wells?

“The Company will have a 62.9% working interest in these wells, with a large integrated oil company participating with their ownership interest.”

Is this a step towards a strategic partnership or takeout by Exxon?

[dan_s]

Encouraging that a large-cap is willing to allow Kolibri to drill and operate the wells. Joint ownership is very common in the upstream subsector, especially in Oklahoma.