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Kolibri Global Energy ( (TSE:KEI) ) just unveiled an announcement.
Kolibri Global Energy Inc. announced a significant increase in its 2024 proved reserves, which grew by 24% to 40.2 million barrels of oil equivalent, raising the net present value to US$535 million. This growth is attributed to successful drilling operations and longer lateral wells, with a current five-well drilling program underway. The company anticipates further cash flow and shareholder value increases through its 2025 drilling program, which includes new wells on its east side acreage, potentially opening additional development opportunities.
More about Kolibri Global Energy
Kolibri Global Energy Inc. operates in the energy sector, focusing on the exploration and production of oil and gas. The company is engaged in drilling programs to enhance its reserves and increase shareholder value.
YTD Price Performance: 49.93%
Average Trading Volume: 54,389
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$399.1M
Learn more about KEI stock on TipRanks’ Stock Analysis page.