October 10 Webinar hosted by KGEI

[dan_s]

Wolf Regener, CEO of Kolibri Global Energy will be joining me on an EPG webinar on October 10 at 12:30AM Central Time.

KGEI closed at $3.25 on October 3. My current valuation is $4.65, which compares to First Call's price target of $6.73US.

On September 18th Kolibri announced that it has finished drilling its first three 1.5 mile lateral wells in the Company’s Tishomingo field in Oklahoma.

Alicia Renee wells

The Alicia Renee 2-11-3H, 2-11-4H, and 2-11-5H wells were drilled safely and under budget. The drilling averaged less than 14 days each, which was substantially less than our budgeted 20 days. Completion work for all three wells is expected to begin in early October, with flowback anticipated in early November. All three wells will be completed at the same time. Kolibri has a 100% working interest in all three wells.

Wolf Regener, President and CEO, commented, "We are very proud that our team did such a great job drilling these wells safely, quickly, and well under budget. We are looking forward to getting these wells on production in the fourth quarter to further increase our cash flow and to evaluate the economic benefits of these longer lateral wells. With the wells being drilled so quickly, we are hopeful that these longer laterals can have a material impact in improving the economics and value of the field."

Kolibri's Q2 2024 production was 3,128 Boepd: 2,309 bpd of oil, 500 bpd of NGLs, and 1,916 mcfpd of natural gas.

MY TAKE: The Alicia Renee wells are key to my valuation. If these 3 wells have initial flow rates at or above the pre-drill type curves they should push the Company's production up to 4,000 Boepd (~73% crude oil) in December. The longer laterals (1.5 miles) should also increase Kolibri's proved and probable reserves. You can find my updated profile on KGEI under the Small-Cap tab on the EPG website.