Kolibri Global Energy Inc. Announces Proved Reserves With Net Present Value of US$483 Million
Kolibri Global Energy Inc. (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, 2023, independent reserves evaluation.Wolf Regener, President and CEO, commented: “We are very pleased with the growth of our Proved Developed Producing (“PDP”) reserves, which grew by 33% as a result of the wells that we drilled and completed last year. Our percentage of PDP versus Total Proved reserves increased to 24% from 18% last year as we continued to convert our proved undeveloped reserves into cash generating PDP wells. We are also pleased that the Net Present Value (“NPV”) of the PDP reserves increased by 11% even as the forecast pricing used in the reserve report decreased compared to the prior year.“Our Proved Reserves value of US$482.6 million (NPV discounted at 10%), decreased by 6% from the 2022 independent reserves evaluation. This is attributed to the lower forecast pricing as well as the 1 million barrels of oil equi
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KGEI
Sec Filings
- 5/13/24 - Form 6-K
- 5/8/24 - Form 6-K
- 5/6/24 - Form 6-K
- KGEI's page on the SEC website