Kolibri Global Energy ( KGEI ) is in a position of growth in a challenging oil environment, pushing for improved yields at its Oklahoma shale locations. With improving cost efficiencies and scaled operating efficiencies, KEI has maintained a relatively strong adjusted EBITDA margin inMonte Independent Investment Research: Michael Del Monte is a buy-side equity analyst with expertise in the technology, energy, industrials, and materials sectors. Prior to working in the investment management industry, Michael ...

Kolibri Global Energy (NasdaqCM:KGEI) Conference Summary Company Overview - **Company**: Kolibri Global Energy - **Ticker**: KGEI (also trades in Canada) - **Industry**: Oil and Gas Production - **Location**: Tishomingo Shale Oil Field, Oklahoma Key Points and Arguments Production and Reserves - Kolibri is an oil and gas producer with significant operations in Oklahoma, specifically in the Tishomingo Shale Oil Field [2][3] - The company drilled nine new wells in 2025, leading to a 24% increase in approved reserves in 2024 [3][4] - Current approved reserves include 40 million barrels of oil and 53 million barrels of approved probable reserves, as reported by Netherland Sewell [4][5] - The company’s production mix has shifted to 75% oil as of November, up from 66% in the third quarter [8][10] Financial Performance - Kolibri reported an enterprise value of over $170 million, with a market cap of approximately $130 million [5][10] - The company has maintained a strong cash flow, with Adjusted EBITDA growing from $6.5 million in 2021 to $44 million in 2024, despite lower oil prices [10][12] - The company aims to keep its debt around $35 million, with current debt reported at $42 million [4][10] Operational Efficiency - The company has improved drilling efficiency, reducing the time to drill a one-mile lateral from 30 days in 2016 to about 12 days by the end of 2024 [19][20] - Operating expenses are approximately $7.50 per barrel of oil equivalent, positioning Kolibri among the lower end of its peers [22][23] Strategic Plans - Kolibri plans to focus on drilling more McKinney wells in 2026 and is currently permitting multiple pads for efficient drilling [11][12] - The company is also exploring the Sycamore formation for potential additional reserves [14][15] - Share buybacks and debt reduction are prioritized, with plans to use excess cash flow for these purposes [27][28] Market Position and Valuation - The company believes it is undervalued, with a significant discrepancy between its trading price and the value of its approved reserves [5][39] - The stock price has experienced volatility due to fluctuations in oil prices and market conditions, particularly around the time of its inclusion in the Russell 2000 [39][40] Additional Important Insights - The company emphasizes the non-homogeneous nature of shale, which can lead to variability in well performance [41] - Kolibri's management team has extensive experience in the oil and gas sector, contributing to its operational and financial strategies [24][25] - The company is proactive in its approach to drilling and capital expenditure, allowing for flexibility in response to market conditions [29][30] This summary encapsulates the key points discussed during the Kolibri Global Energy conference, highlighting the company's operational strategies, financial performance, and market positioning within the oil and gas industry.

Core Insights - Kolibri Global Energy Inc. (NASDAQ: KGEI) has seen a significant increase in its share price, rising by 8.38% from December 22 to December 29, 2025, making it one of the top-performing energy stocks during that week [1]. Operational Update - The company provided an operational update on its Tishomingo field in Oklahoma, reporting a production rate exceeding 6,000 barrels of oil equivalent per day (boepd) following the addition of new wells [3]. - The Barnes wells, in which Kolibri holds a 100% interest, are producing approximately 465 boepd each, with nearly 85% of that production being oil. One of these wells is expected to contribute more to production in the future [4]. - The Velin wells, where the company has a 97% interest, are producing lower-than-expected rates of about 200 boepd, with 72.5% being oil. The company is currently installing tubing to enhance flow rates [4]. - The Lovina wells are performing well and demonstrating strong economics despite lower crude oil prices [4]. Management Commentary - Wolf Regener, President and CEO, expressed satisfaction with the field's performance, highlighting the high oil percentage in recent wells, which is improving the company's netbacks. He noted that the early production profiles of the Lovina and Barnes wells are promising, with expectations of similar results [5].

Core Viewpoint - Kolibri Global Energy Inc. has provided an operations update indicating significant production growth in its Tishomingo field, now exceeding 6,000 Barrels of oil equivalent per day (BOEPD) [1] Field Update - The Tishomingo field's current production rate is over 6,000 BOEPD, which includes the impact of offsetting wells that were temporarily shut in for fracture stimulations [1]

Core Points - Kolibri Global Energy Inc. (NASDAQ:KGEI) is considered a cheap oil stock under $10, with recent shareholder approval to cap authorized common shares at 37,367,894 [1] - The company reported Q3 2025 financial results showing net revenues of $15 million, a 15% increase from Q3 2024, driven by a 40% production surge from new wells, although offset by an 18% drop in realized prices [2] - The earnings per share (EPS) for the quarter was $0.10, down from $0.14 in the prior-year quarter and below the consensus estimate of $0.12, attributed to a $0.5 million unrealized loss on commodity contracts [3] - Kolibri Global Energy operates as an independent oil and natural gas company, focusing on production assets in the United States, primarily through horizontal drilling and completion projects [4]

Industry Overview - The International Energy Agency's Oil Market Report for November 2025 indicates that oil markets are entering a turbulent phase, with global oil supply increasing by over 6 million barrels per day since January, while demand growth remains modest at under 800,000 barrels per day annually, leading to multi-year low crude prices, such as North Sea Dated crude trading near $62 per barrel, the lowest in four years [2] - Goldman Sachs concurs with this assessment, predicting that current oil supply surges will suppress prices through 2026, but anticipates a rebound with long-term Brent/WTI prices rising to approximately $80/76 by late 2028 [3] M&A Opportunities - Lower oil prices are expected to create acquisition opportunities, as companies with strong balance sheets may capitalize on distress among small-to-midsize producers or service companies facing cash flow pressures, potentially emerging from the downturn in a stronger position [4] - Morningstar identifies the energy sector as the second most undervalued sector, trading at a 9% discount to fair value, suggesting significant growth potential despite current market dynamics [4] Investment Opportunities - The article highlights nine oil-related firms trading under $10 that may benefit from the anticipated oil-price upcycle, presenting an attractive buying window for investors willing to select quality stocks during a downturn [5] Methodology for Stock Selection - The list of 9 Cheap Oil Stocks Under $10 was compiled using stock screeners and financial media sources, focusing on companies with forward P/E ratios under 15 and trading below $10, further refined by reviewing institutional holdings from Q3 2025 [7] Company Highlights - **Kolibri Global Energy Inc. (NASDAQ:KGEI)**: - Stock Price: $4.09, Forward P/E: 8.24, Number of Hedge Fund Holders: 1 - Reported Q3 2025 net revenues of $15 million, a 15% increase from Q3 2024, attributed to a 40% production surge, though offset by an 18% drop in realized prices [9][10] - EPS for the quarter was $0.10, down from $0.14 year-over-year and below the consensus estimate of $0.12 [11] - **OMS Energy Technologies Inc. (NASDAQ:OMSE)**: - Stock Price: $4.80, Forward P/E: 4.36, Number of Hedge Fund Holders: 5 - Secured API Spec 11D1 certification for its subsidiary, enabling in-house development of high-spec components, which is expected to enhance its role in the Southeast Asian oilfield market [13][15]

Core Points - Kolibri Global Energy Inc. held a special general meeting of shareholders on November 25, 2025, in Westlake Village, California [1] - The meeting was requisitioned by TFG Asset Management UK LLP, a shareholder of the Company [1] - A majority of shareholders present, either in person or by proxy, approved a resolution to alter the Notice of Articles [1]

Kolibri Global Energy (KGEI) Conference Summary Company Overview - **Company Name**: Kolibri Global Energy - **Ticker Symbols**: KEI (Toronto Stock Exchange), KGEI (NASDAQ) - **Industry**: Oil and Gas Production - **Location**: Oklahoma, specifically the Tishomingo Shale Oil Field - **Market Capitalization**: Approximately $145 million USD with 35.4 million shares outstanding [4][4] - **Debt**: Net debt at the end of the last quarter was $42 million, with a debt to adjusted EBITDA ratio around 1 [4][4] Key Financial Metrics - **Proved Reserves**: Over 40 million barrels of oil equivalent, with a 24% increase in 2024 due to drilling activities [3][3] - **Production Mix**: Oil production increased to 66% of total production, with September's mix reaching 71% [7][7] - **Average Production Guidance for 2025**: Expected to be between 4,000-4,400 BOE per day, representing a 15%-27% increase year-over-year [10][10] - **Adjusted EBITDA**: Expected to grow by 4%-14% despite lower oil prices [10][10] - **Capital Expenditures (CapEx)**: Estimated at $55 million-$58 million for the year [10][10] Operational Highlights - **Drilling Efficiency**: Transitioned from one-mile laterals to mile-and-a-half and two-mile laterals, improving access to reservoirs and potentially increasing production rates [12][12][17][17] - **Production Growth**: Continuous drilling program with new wells expected to come online in December, contributing to production growth [9][9][10][10] - **Operating Expenses**: Positioned at the lower end compared to peers, contributing to better netbacks [19][19][20][20] Strategic Insights - **Hedging Strategy**: Utilizes costless collars and puts to protect cash flow against price declines [35][35] - **Debt Management**: Plans to reduce debt by $8 million-$10 million in the first quarter of 2026, while maintaining flexibility in drilling programs based on oil prices [36][36][38][38] - **Share Buybacks**: Approximately 570,000 shares repurchased, with plans to continue buybacks when advantageous [44][44] Market Outlook - **Oil Price Predictions**: Anticipates oil prices to recover to the high $60s to low $70s in the near future, despite current volatility [40][40] - **Production Sustainability**: Future production growth will depend on the number of wells drilled and performance of existing wells [25][25][27][27] Management and Governance - **Management Team**: Experienced leadership with extensive backgrounds in oil and gas operations, finance, and engineering [20][20][21][21] - **Board of Directors**: Composed of individuals with significant experience in the oil and gas sector, enhancing strategic decision-making [21][21][22][22] Additional Considerations - **Contingent Resources**: Exploration of additional formations such as the Sycamore and T Zone, which are not yet included in the reserve report [12][12][14][14] - **Regulatory Environment**: Company is navigating shareholder concerns regarding recent filings and maintaining compliance with regulatory requirements [41][41][42][42] This summary encapsulates the key points from the Kolibri Global Energy conference, highlighting the company's financial health, operational strategies, and market outlook.

Financial Data and Key Metrics Changes - Average production increased by 40% to 4,254 barrels of oil equivalent (BOE) per day compared to 3,032 BOE per day in the prior year quarter [6][7] - Revenue rose by 15% to $15 million in Q3 2025, driven by higher production, despite an 18% decline in prices [6][7] - Adjusted EBITDA reached $11.1 million, a 9% increase from the prior quarter [7] - Net income decreased to $3.6 million, with basic EPS of $0.10 per share, down from $5.1 million or $0.14 per share in the prior year quarter [7][9] - Operating expenses were $7.37 per BOE, an 11% increase from the prior year, primarily due to reassessed production tax adjustments [8][10] Business Line Data and Key Metrics Changes - The company is in the process of fracture stimulating four new wells expected to come online in early December, which will further increase production [5][11] - The average production for the nine months ended September 30th was up 22% to 3,851 BOE per day compared to 3,154 BOE per day in the prior year [9] Market Data and Key Metrics Changes - Net back for the quarter decreased by 23% to $30.84 per BOE compared to $40.01 per BOE in the prior year quarter, primarily due to lower prices [8] - Year-to-date revenue was up 2% to $42.1 million, despite a 16% decrease in prices [9] Company Strategy and Development Direction - The company plans to continue returning capital to shareholders through share buybacks, having repurchased approximately 568,000 shares since the program began [10][12] - Future drilling programs will depend on oil prices, with a focus on maintaining flat production levels if prices remain low [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving record high production by the end of the year, despite lower oil prices [12] - The company is monitoring the Forgeson well's production and will not pursue further drilling in that area unless prices improve [20][21] - Management indicated that the current hedging strategy reflects the volatile market conditions, aiming to protect against downside risks while allowing for potential upside [24] Other Important Information - The company reaffirmed its line of credit at $65 million, with net debt at $42.8 million and $18.5 million of available borrowing capacity [10] - The one-time production tax adjustment was clarified as a non-recurring event, which impacted operating expenses [25][26] Q&A Session Summary Question: Timing of the four new wells - Management confirmed that production from the new wells is expected to commence in early December [15] Question: Changes to guidance and leverage expectations - Management indicated that they remain comfortable with expectations of around one-times net leverage by year-end [18] Question: Update on the Forgeson well and future drilling plans - Production from the Forgeson well has been flat, and further drilling in that area is unlikely unless oil prices improve [20] Question: October hedging strategy - The shift in hedging strategy was due to unfavorable forward pricing, with a focus on protecting against downside risks while allowing for potential upside [24] Question: Explanation of higher operating expenses - The increase in operating expenses was attributed to a one-time true-up of production taxes, which is not expected to recur [25][26]

Core Insights - Kolibri Global Energy Inc. reported a 40% increase in production and a 15% increase in net revenues for Q3 2025 compared to Q3 2024 [1][3][5] - The company achieved an average production of 4,254 BOEPD in Q3 2025, up from 3,032 BOEPD in Q3 2024 [3][6] - Adjusted EBITDA for Q3 2025 was $11.1 million, reflecting a 9% increase from $10.1 million in Q3 2024 [3][19] Financial Performance - Revenue net of royalties for Q3 2025 was $15.0 million, compared to $13.0 million in Q3 2024, marking a 15% increase [3][20] - Net income for Q3 2025 was $3.6 million, down from $5.1 million in Q3 2024, with Basic EPS decreasing from $0.14 to $0.10 [3][20] - Average price per BOE in Q3 2025 was $48.38, an 18% decrease from $59.09 in Q3 2024 [3][19] Production and Operating Costs - Production and operating expenses increased to $2.5 million in Q3 2025, a 64% rise due to higher production levels [7][20] - Operating expense per barrel averaged $7.37 in Q3 2025, up 11% from $6.63 in Q3 2024 [3][7] - Average netback from operations was $30.84 per BOE, a 23% decrease from the prior year [3][19] Capital Expenditures and Investments - Capital expenditures for Q3 2025 were $17.4 million, a significant increase of 77% from $9.8 million in Q3 2024 [3][19] - The company expects to exit 2025 with production at an all-time high, driven by the completion of four additional wells [4][5] Natural Gas and NGL Performance - Natural gas revenues increased by $0.7 million or 345% in Q3 2025, attributed to a 124% rise in natural gas prices and a 98% increase in production [5][11] - NGL revenues rose by $0.6 million or 67% in Q3 2025, with production increasing by 74% [5][11] First Nine Months Performance - For the first nine months of 2025, oil and gas gross revenues totaled $53.7 million, a 3% increase from $52.4 million in the same period of 2024 [11][14] - Average production per day for the first nine months of 2025 was 3,851 BOEPD, a 22% increase from 3,154 BOEPD in the prior year [12][14] - Adjusted EBITDA for the first nine months of 2025 was $31.6 million, up 3% from $30.5 million in the same period of 2024 [11][14]