Kolibri Global Energy Inc. (NASDAQ: KGEI)

Kolibri Global Energy Inc. is an energy company engaged in the acquisition, exploration, development, and production of oil and natural gas properties. The company focuses on the Tishomingo Field in the Ardmore Basin of Oklahoma, United States, where it develops Caney Shale oil acreage and utilizes its technical and operational expertise to identify and acquire additional projects. All of the corporation’s current energy production originates from the Tishomingo Field, and at year end 2025 its proved gross reserves were estimated at approximately 40,800,000 barrels of oil equivalent, proved plus probable reserves at 57,600,000 barrels of oil equivalent, and proved plus probable plus possible reserves at 71,800,000 barrels of oil equivalent. Kolibri Global Energy Inc. employs 8 individuals as of December 2025 and its common shares trade on the Toronto Stock Exchange under the symbol KEI and on the NASDAQ under the symbol KGEI.

Kolibri Global Energy Inc. generates revenue from the sale of oil, natural gas, and natural gas liquids produced at its Tishomingo Field. Oil is sold to a single purchaser and transported by truck, while natural gas and natural gas liquids are delivered under contract/gathering agreements. In 2025, oil sales amounted to $62,994,000 representing 88% of total revenue, natural gas contributed $3,945,000 or 5%, and natural gas liquids contributed $5,154,000 or 7%. The company’s average production reached 4,013 barrels of oil equivalent per day during the year, with an average realized price of $49.22 per barrel of oil equivalent. Total net revenues for 2025 were $56,856,000, reflecting a 3% decrease compared to 2024 due to lower average prices partially offset by a 15% increase in production volume.

Kolibri Global Energy Inc. operates as an independent producer in the competitive United States onshore oil and gas sector, where it faces competition from larger integrated and exploration production companies that often possess greater financial resources, staff, and facilities. The company’s competitive position relies on its technical expertise, a concentrated asset base in the Tishomingo Field, and its ability to attract and retain qualified personnel despite industry wide talent competition. Key competitive factors influencing its operations include commodity price fluctuations, pipeline access, reliability of delivery, and the availability of imported products, as well as the cost and availability of equipment, component parts, and services required for drilling and completion activities. Although Kolibri has been able to obtain the necessary personnel, equipment, and materials, variability in demand can affect pricing and lead to unexpected cost changes. The company’s operations are also subject to seasonal cycles such as heavy rains, snow, and cold temperatures that can delay site access and curb production, while fracture stimulation processes require large water volumes that may be impacted by low temperatures. Despite these challenges, Kolibri does not consider itself dependent on any single purchaser because numerous buyers are available for its oil, natural gas, and natural gas liquids in the market.

Kolibri Global Energy Inc. sells its oil to a single purchaser under a dedicated sales agreement, while its natural gas and natural gas liquids are marketed through contract/gathering arrangements. The company does not consider itself dependent on any one customer because multiple purchasers are available for its hydrocarbon products in the market. Specific customer names are not disclosed in the filing, but the revenue breakdown shows that oil accounts for the vast majority of sales with natural gas and natural gas liquids contributing smaller shares.