Kolibri Global Energy (KEI) Small-Cap Virtual Conference summary

Financial performance and reserves

• Maintains low debt with debt to EBITDA less than one and strong cash flow growth, fully funding drilling programs through 2026.

• Holds a $75 million line of credit, using it flexibly for drilling and repaying with operational cash flow.

• Proved reserves stand at 40 MMb, with 71% undeveloped; proved and probable reserves valued at nearly $600 million at conservative oil prices.

• Market cap is $234 million, with enterprise value at $276 million, significantly below reserve-based valuations.

• Revenue and adjusted EBITDA are forecasted to rise 37%-48% and 33%-47% respectively, assuming $70 oil.

Operational strategy and drilling

• Acreage expanded to 17,700 acres, with 45 Caney wells producing and several more in flowback or completion.

• Focused on horizontal drilling in Caney and Upper Sycamore, with new tests in the False Caney and T-zone benches.

• Drilling efficiency improved, reducing 1-mi lateral well times from 30 to 12 days, and costs from $7.2M to $5.5M.

• Longer laterals (1.5-2 mi) are now standard, offering better economics without proportional cost increases.

• Infrastructure is robust, with oil priced at WTI minus $1.85 and gas/NGLs handled via Exxon’s system.

Growth initiatives and capital allocation

• Actively testing the False Caney bench, with results expected by mid-November; success could add significant reserves.

• Capital allocation prioritizes maintaining or growing production, testing new horizons, and returning capital via share buybacks.

• Share buybacks are planned for late 2026, subject to cash availability and cross-border banking limitations.

• Dividend initiation is under consideration but contingent on sustained production and price stability.

• Conservative hedging strategy in place, using costless collars and deferred puts to protect downside while retaining upside.