Dan, I am very interested in KOLIBRI GLOBAL ENERGY but am wondering if being a CALIFORNIA based company, doesn't cause tax increases, thus reduced profits and returns to investors.
Could you offer your opinion. Thanks,
KOLIBRI
Re: KOLIBRI
100% of their production is in Oklahoma, so they only have Oklahoma severance taxes on the production. They do have some property taxes, but not a significant % of revenues.
Kolibri's all in cash production and operating expenses are only $8/boe because their wells come on strong and are flowing (no pump jacks).
Zero income taxes in 2022 and I am forecasting only 3% current income taxes in 2023 because intangible drilling costs (fully deductible for federal and state taxes in Oklahoma) should cover their taxable income. If they have an aggressive drilling program, they may not have any current income taxes in 2023 or 2024.
I don't think they have any exposure to California income taxes.
Download my forecast model, which you can find on the EPG website under the Small-Cap tab.
Kolibri's all in cash production and operating expenses are only $8/boe because their wells come on strong and are flowing (no pump jacks).
Zero income taxes in 2022 and I am forecasting only 3% current income taxes in 2023 because intangible drilling costs (fully deductible for federal and state taxes in Oklahoma) should cover their taxable income. If they have an aggressive drilling program, they may not have any current income taxes in 2023 or 2024.
I don't think they have any exposure to California income taxes.
Download my forecast model, which you can find on the EPG website under the Small-Cap tab.
Last edited by dan_s on Tue Jan 31, 2023 11:46 am, edited 1 time in total.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group