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     105  0 Kommentare Kolibri Global Energy Inc. Announces Nickel Hill Production Rates and Inclusion in Russell Index

    Kolibri Global Energy Inc. (the “Company” or “Kolibri”) (TSX: KEI, NASDAQ: KGEI) is pleased to provide an update on its latest wells in its Tishomingo field in Oklahoma and its preliminary inclusion in the Russell US reconstitution portfolio.

    Initial Flow Rates

    The Nickel Hill 35-1H & 35-2H wells have been successfully drilled and completed in the Caney Formation. Over the last seven days, the Nickel Hill 35-1H well has averaged 472 Barrels of oil equivalent per day (“BOEPD”) (369 barrels of oil per day (“BOPD”)), and the Nickel Hill 35-2H well has averaged 478 BOEPD (379 BOPD). The wells are still cleaning up and are currently producing about 510 BOEPD (397 BOPD) and 529 BOEPD (419 BOPD), respectively. Kolibri owns a 62.9% working interest in both of the Nickel Hill wells, which were drilled at a 6-well per section spacing pattern.

    Russell Microcap Index

    On May 31, 2024, FTSE Russell, announced that the preliminary Russell US reconstitution portfolio included the addition of Kolibri Global Energy Inc. into the Russell Microcap Index. The newly reconstituted index will take effect after the market close on June 28, 2024.

    Membership in the Russell Microcap Index, which remains in place for one year, includes inclusion in the appropriate growth and value style indexes. FTSE Russell is a leading global index provider and membership for its Russell indexes is determined primarily by objective, market-capitalization rankings, and style attributes.

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. As of December 2023, approximately $10.5 trillion in assets are benchmarked to a Russell index. Reference information on the reconstitution process, including member additions and deletions, can be found at: www.lseg.com/en/ftse-russell/russell-reconstitution.

    Wolf Regener, President and CEO, commented, “We are very pleased that these latest two Caney wells are performing so well. The early production results indicate both wells to be very economic. In addition, I’m proud that our team once again drilled and completed these wells safely and under budget.

    “We are also excited that our inclusion in the Russell Microcap Index will further improve the visibility of our company among investors. Our strategy is to continue to organically grow the Company by increasing production and adjusted EBITDA utilizing our existing cash flow and managing working capital with the $50 million available borrowing capacity from our existing credit facility.“

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    Kolibri Global Energy Inc. Announces Nickel Hill Production Rates and Inclusion in Russell Index Kolibri Global Energy Inc. (the “Company” or “Kolibri”) (TSX: KEI, NASDAQ: KGEI) is pleased to provide an update on its latest wells in its Tishomingo field in Oklahoma and its preliminary inclusion in the Russell US reconstitution portfolio. …