Kolibri Global Energy (KGEI) Update - June 11

[dan_s]

My updated profile and forecast model for KGEI has been posted to the EPG website.

If all goes as planned Kolibri will have 4.46 net high-rate wells completed to sales within a few weeks. I am forecasting an increase in production from 4,077 Boepd in Q1 to 5,800 Boepd in Q3.

All four of the Lovina wells with 1.5 mile laterals will be completed at the same time. The completion crew is fracking them now.

[Petroleum economist]

Dan,
A Q3 production of 5.8 K BoE/d looks like a conservative estimate.
If the Lovina wells are at or near the performance of the Alicia Renee wells than a Q3 production of 6.5-7.0 K BoE/d is possible.

[dan_s]

I agree. For now, I am using the top end of Kolibri's production guidance in my 2025 forecast. If your prediction ends up being correct AND oil moves over $70/bbl, a valuation of $18 to $20 for KGEI is likely.

At our May 21st luncheon. Wolf told us that the well logs for all four Lovina wells look identical to the logs of the three Alicia Renee wells and that the 1.5 lateral stayed in the best part of the ~325 foot thick Caney zone.

If the four Lovina wells have high IP30 rates, KGEI become a "Screaming Buy" up to $10 the day of the announcement.