Kolibri Global Energy Inc. Announces Another Record for Its Highest Quarterly Revenue of $22.5 Million With a 46% Production Increase and a 197% Net Income Increase for the Second Quarter of 2026

THOUSAND OAKS, Calif. — All amounts are in U.S. Dollars unless otherwise indicated:

Adjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled “Non-GAAP Measures” of this earnings release.

Netback from operations is considered a non-GAAP ratio. Refer to the section entitled “Non-GAAP Measures” of this earnings release.

A welcome email is on its way. If you don't see it, please check your junk folder.

Management will host an earnings conference call for investors this morning at 9:00 a.m. Pacific time to discuss the Company’s results and host a Q&A session. Interested parties are invited to participate by calling: 1-833-890-5570 or for international callers: 1-412-502-9708. Please request to be joined to the Kolibri Global Energy Inc. call.

Kolibri’s President and Chief Executive Officer, Wolf Regener commented:

“We are excited to announce another Company record for highest quarterly revenue of $22.5 million which was an increase of 109% compared to the prior year quarter. Continuing to execute the Company’s strategy of growing production by converting our reserves into producing wells resulted in a 46% production increase. We also benefited from an increase in average prices of 41% in the second quarter of 2026 compared to the prior year quarter. We generated Adjusted EBITDA (1) of $16.4 million which was a 114% increase from the prior year quarter.

“The Company has just completed drilling the last of the three Clifton Mack wells and expects to begin fracture stimulation operations this month with production expected during the end of the third quarter. As we previously disclosed, the geologic conditions in this area required additional casing strings, which increased the cost of these wells compared to our standard Caney well design. We believe the pressures we encountered are supportive of potential high production rates from these wells. The geologic conditions that were encountered in this southwest corner of our acreage position appear to be isolated to this area, and we anticipate using our normal Caney well design on future Caney wells.

“As we recently announced, we revised our strategy to target additional benches in our field while we continue to develop the lower Caney as we have in the past. We are excited to begin drilling the Lovina 8-5-1HF well, which will test the False Caney bench and will also be our first 2 mile lateral well. Successful results in these additional benches will have the potential to add many future drilling locations which would increase our reserves and thus value for our shareholders.”

Adjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled “Non-GAAP Measures” of this earnings release.

Netback from operations and netback including commodity contracts are considered non-GAAP ratios. Refer to the section entitled “Non-GAAP Measures” of this earnings release.

Oil and gas gross revenues totaled $28.4 million in the quarter versus $13.8 million in the second quarter of 2025, an increase of 106%. Oil revenues increased $14.0 million or 117% as average oil prices increased by 53% and oil production increased by 42%.