Kolibri Global Energy (KEI) Oil & Gas Virtual Investor Conference summary

Strategic overview and financial position

• Operates in Oklahoma's Tishomingo Shale with a focus on oil production and a strong balance sheet.

• Fully funded for drilling through 2026, utilizing cash flow and a $65 million line of credit.

• Holds 40 million barrels of proved reserves and 57 million barrels of proved probable reserves, with significant undeveloped potential.

• Market cap around $180 million, net debt at $46 million as of December 2023, and enterprise value of $225–230 million.

• Proved reserves valued at $440 million, indicating a disconnect with current enterprise value.

Operational performance and growth plans

• Shifted from gas to oil production, now with 70–75% oil in the production mix.

• Forecasts 10–20% production growth in 2026 with a minimal drilling program of three wells.

• 2026 guidance: 4,400–4,800 BOE/day, $75+ million revenue, $55–60 million adjusted EBITDA, $25 million capex.

• Debt expected to fall to $25–30 million by year-end 2026, assuming $74 oil price.

• Every $5 increase in oil price adds $2.8 million to adjusted EBITDA.

Asset base and drilling inventory

• 45 wells currently on production; 99% of acreage held by production, allowing flexible drilling.

• 104 additional Caney locations identified, with 48 proved, 24 probable, and 17 possible.

• Upside potential in Sycamore and T Zone formations, not yet included in reserve reports.

• Drilling efficiency improved from 30 days per well in 2016–17 to 10–12 days in 2023–24.

• Longer laterals now access 50% more reservoir at similar costs to previous wells.