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Kolibri Global Energy Inc. Announces Its 2024 Proved Reserves Increased 24 Percent to a Net Present Value of US$535 Million With a Five Well Drilling Program Currently Underway
Kolibri Global Energy Inc. (the “ Company ” or “ KEI ”) (TSX:...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"Kolibri Global Energy Inc. Announces Its 2024 Proved Reserves Increased 24 Percent to a Net Present Value of US$535 Million With a Five Well Drilling Program Currently Underway\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadl3 { padding-left: 15px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwvertalignb { vertical-align: bottom }\n.bwwidth100 { width: 100% }\n.bwwidth15 { width: 15% }\n \n\n\n\n Kolibri Global Energy Inc. (the “\n \n Company\n \n ” or “\n \n KEI\n \n ”) (TSX: KEI) is providing the results of its December 31, 2024, independent reserves evaluation. All amounts are in US$ unless otherwise stated.\n \n\n Wolf Regener, President and CEO, commented: “We are very pleased with the large growth we had in Proved Reserves, which grew by 24% to 40.2 million barrels of oil equivalent (“BOEs”), as well as our Proved Developed Producing (“\n \n PDP\n \n ”) reserves, which grew by 15% to 9 million BOEs. This growth is a result of the wells that we drilled last year and the impact of our longer laterals. In 2024, our percentage of PDP versus Total Proved reserves decreased to 22% from 24%, even though our PDP reserves grew, because our Proved reserves increased by 7.8 BOEs.\n \n\n \"We are also pleased that the Net Present Value (“\n \n NPV\n \n ”) of the PDP reserves increased by 5% even as the forecast pricing used in the reserve report decreased compared to the prior year, and we produced over 1.27 million BOEs last year.\n \n\n “Despite the lower pricing used in the reserve report, our Proved Reserves value of US$534.7 million (NPV discounted at 10%) increased by 11% from the 2023 independent reserves evaluation due to the increase in reserves. This results in a pre-tax per share value at December 31, ...