Kolibri Global Energy reports Q1 EPS 16c vs. 9c last year

Reports Q1 revenue $16.4M vs. $14.3M last year. Kolibri’s President and CEO, Wolf Regener commented: “We are very happy with the Q1 performance of the Company as our net income increased by 72% to $5.8M, or 16c per basic share, in the Q1. We generated adjusted EBITDA of $12.8M in the Q1, which was a 24% increase from the prior year Q1. Production in the Q1 continued to grow, increasing 23% to 4,077 BOEPD due to the wells we drilled in 2024. Our field operations team are drilling the longer lateral wells very quickly, reducing our costs per well, which further improves our internal rates of return. We are now drilling 1.5-mile lateral wells in less time than we were drilling 1-mile lateral wells last year.”