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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. - Common stock (KGEI) 
Company Research Source: Business Wire
THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI) is providing the results of its December 31, 2024, independent reserves evaluation. All amounts are in US$ unless otherwise stated.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 (“PDP”) 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."We are also pleased that the Net Present Value (“NPV”) 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 Show less Read more
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