Kolibri Global Energy Inc. Provides Strategy Update and Higher 2026 Forecast

About this update from Kolibri Global Energy Inc

All amounts are in US$ THOUSAND OAKS, Calif., June 29, 2026--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the "Company" or Kolibri") (TSX: KEI, NASDAQ: KGEI) is announcing an update to its long-term strategy along with a revised forecast based on updates to its 2026 drilling program. Company Strategy The Company's strategy to date has been to mainly focus on developing the Lower Caney in the Company's Tishomingo field in Oklahoma. However, the Company has long known that there are other benches in its field that are not currently reflected in the Company's reserve report. It believes that, with modifications to its latest completion techniques, these benches can be economically developed. The Company has revised its strategy to include targeting these benches while continuing the development of the Lower Caney. These benches include the False Caney, the Upper Caney, the T-zone, and the Sycamore. The Company's strategy will be to continue drilling mainly one and a half and two-mile lateral development wells in the Lower Caney formation while also drilling longer lateral wells into these additional benches to determine their economic viability. The Company is adding an additional well to its 2026 drilling program, which will target the False Caney. The Upper Caney is likely to be the next bench targeted and may be drilled in late 2026 or early 2027. The Company will determine the next T-zone well and potentially test the Sycamore at a later date. Operations & Corporate Update The Company is currently drilling the three previously announced Clifton Mack wells. Immediately following the drilling of these wells, the drilling rig is scheduled to move over to drill the Lovina 5-8-1H well (98.5% working interest), which will be a two-mile lateral False Caney well. The Clifton Mack 11-14-1HR well has been drilled and cased after being redrilled with a redesigned casing program. Unexpected geologic conditions were encountered in the drilling of the first Clifton Mack well, which resulted in the need to redrill and redesign the well with extra casing strings. The Company is currently batch drilling the Clifton Mack 11-14-2HR and the Clifton Mack 11-14-3HR wells, with the learnings from the first Clifton Mack well being applied to these wells. The Clifton Mack wells are located in the Southwest corner of Kolibri's acreage block and were probable locations on the ...

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