Kolibri Global Energy has provided an operations update on its latest wells in its Tishomingo field in Oklahoma.
BARNES WELLS
The Barnes 6-31-2H and Barnes 6-4H wells (both 100% working interest) have been on production for approximately 30 days. The 1.5 mile lateral Barnes 6-31-2H well averaged 634 Barrels of oil equivalent per day (“BOEPD”) (529 barrels of oil per day (“BOPD”) over the last five days and had a 30-day average rate of 529 BOEPD (448 BOPD). The 1 mile lateral Barnes 6-4H well averaged 451 BOEPD (374 BOPD) over the last five days and had a 30-day average rate of 452 BOEPD (374 BOPD). The Barnes wells continue to produce high percentages of oil (~83%), much like the Lovina wells the Company drilled earlier this year.
As expected, the Barnes 6-31-2H production rate has improved since the Company’s initial press release and the Barnes 6-4H production has remained quite steady. On a comparable lateral length basis, these wells are producing at a BOEPD rate that is 22% higher than the Lovina wells were producing at the same time in their production life.
VELIN WELLS
The two 1-mile lateral Velin wells (97% working interest), which were fracture stimulated immediately prior to the Barnes wells, and started flowing back after the Barnes wells’ fracture stimulations were completed, are continuing to improve. The Velin 12-9H well averaged 283 BOEPD (198 BOPD) over the last five days and had a 30-day average rate of 257 BOEPD (187 BOPD). The Velin 12-10H well averaged 233 BOEPD (166 BOPD) over the last five days and had a 30-day average rate of 176 BOEPD (125 BOPD).
The Velin wells are still improving and continue to act differently than the typical wells in the field. There are some differences between these wells and the Company’s offsetting wells. One is that the Velin wells were shut in longer than our normal time after fracture stimulations were complete. This was due to the close proximity of all four wellbores, and as a result, the wells needed to stay shut-in while the Barnes wells were being fracture stimulated. While that is standard industry practice, it may be a contributing factor to the lower early production rates and the slower cleanup. Additionally, while the formation analysis of these wells is comparable to that of the offsetting wells, there is the presence of increased natural healed fractures and small-scale faulting, which appears unique to this location, potentially due to being adjacent to a large structural uplift.
Wolf Regener, President and CEO, commented, 'It is great to see the wells improve further from our early press release and that the Barnes wells have the high oil percentage similar to the Lovina wells we drilled earlier in the year, which helps improve the Company’s netbacks. The Company’s oil production mix for the month of November was over 75% compared to the third quarter oil mix of 66%.
'We also anticipate that the high oil percentage will lead to lower decline rates, much like the Lovina wells have demonstrated, which is resulting in the strong forecasted internal rate of return (IRR) as we noted in our December 22, 2025, press release.
“The Company continues to buyback shares in the market and is planning to pay down our line of credit in the first quarter.'
CONFERENCE AND NON-DEAL ROADSHOW
Mr. Regener and Mr. Gary Johnson, CFO of the Company, will be participating in the Sidoti Virtual Investor Conference on January 21 and 22, 2026. More information can be found at https://www.sidoti.com/events.
Mr. Regener and Mr. Johnson will also be participating in Renmark’s Virtual Non-Deal Roadshow on January 28, 2026 at 9AM Pacific. More information can be found at https://www.renmarkfinancial.com/events.
About Kolibri Global Energy Inc.
Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil and gas. The Company’s shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the NASDAQ under the stock symbol KGEI.
Source: Kolibri Global Energy
