B2i Digital reposted this
Chief Executive Officer | Google Partner | Meta Marketing Partner | Investor | HubSpot Partner | Investment Banker | LinkedIn Marketing Certified
A B2i Digital Featured Company, Kolibri Global Energy Inc. (Nasdaq: KGEI, TSX: KEI) https://lnkd.in/eVHcxRGp, announced initial solid production rates from its latest wells in the Tishomingo field in Oklahoma and its preliminary inclusion in the Russell Microcap Index. According to the company’s new release this morning, the Nickel Hill 35-1H & 35-2H wells, drilled in the Caney Formation, have shown impressive early results. Over the last seven days, the Nickel Hill 35-1H well averaged 472 BOEPD (369 BOPD), and the Nickel Hill 35-2H averaged 478 BOEPD (379 BOPD). The wells are still cleaning up and producing about 510 BOEPD (397 BOPD) and 529 BOEPD (419 BOPD), respectively. Kolibri owns a 62.9% working interest in both wells. In addition, Kolibri reports that the company has been preliminarily included in the Russell Microcap Index, effective after the market close on June 28, 2024, noting that its inclusion is expected to improve the company’s visibility among investors. Wolf Regener, President and CEO, commented, “We are very pleased that these latest two Caney wells are performing so well. The early production results indicate both wells to be very economic. In addition, I’m proud that our team once again drilled and completed these wells safely and under budget. We are also excited that our inclusion in the Russell Microcap Index will further improve the visibility of our company among investors. Our strategy is to continue to organically grow the Company by increasing production and adjusted EBITDA utilizing our existing cash flow and managing working capital with the $50 million available borrowing capacity from our existing credit facility.” The full release is available here: https://lnkd.in/e5qTzfSF To stay abreast of Kolibri Global Energy’s progress and achievements, visit B2i Digital https://b2idigital.com/ and sign up for updates on Kolibri and our other Featured Companies. #KolibriGlobalEnergy #NickelHillWells #2024DrillingProgram #CashFlowGrowth #EnergyInnovation #B2iDigital #OilProduction #ShareholderReturns #EnergySector #ProductionGrowth