Kolibri Global Energy (KEI) Renmark Virtual Non-Deal Roadshow Conference summary

Business overview and asset base

• Operates as a shale oil producer in Oklahoma, focusing on the Caney Shale with 74% oil and 16% NGLs in production mix.

• Holds 17,000 acres, with 36 wells on production and significant reserves: 40 million proved, 53 million 2P.

• Reserves valued at $535 million (proved) and $700 million (2P), with a market cap of ~$250 million and low debt.

• Infrastructure is in place, minimizing bottlenecks and supporting efficient field development.

• Most acreage is held by production, allowing flexible development without lease pressure.

Operational strategy and growth plans

• Forecasts 29-47% production growth and 28-52% revenue growth for the year, with $58-71 million adjusted EBITDA.

• Drilling longer laterals (1.5 miles) to improve economics, with four such wells underway and more planned.

• Capital expenditures for growth are around $50 million, with excess cash supporting share buybacks.

• Additional upside targeted on the east side and Upper Sycamore T zone, with new wells to test unbooked reserves.

• Drilling efficiencies have improved, reducing one-mile lateral drilling time to 12 days and 1.5-mile laterals to 14 days.

Financial performance and capital management

• Maintains low debt (debt/EBITDA <1), with operating expenses per BOE at $6.63 and high operating netbacks.

• Shareholder return policy in place, with ongoing share buybacks (280,000 shares repurchased recently).

• Hedging strategy uses costless collars ($60-$85/bbl) for 2025, with about 55% of oil production hedged in H1.

• Guidance based on $70 oil price, with flexibility for market fluctuations.

• Oil is the main revenue driver, with gas and NGLs contributing marginally.