Kolibri Global Energy Inc. is focused on the continued development and exploitation of its Tishomingo Shale oil property which provides a stable production and reserve platform, while also pursuing further accretive energy acquisitions.
Kolibri believes it can further increase its cash flow on its proven reserves by drilling low risk infill proven locations. In addition, Kolibri has probable, possible and undocumented reserves that it believes can be converted to proved and probable reserves through step out drilling to add further value.
Ardmore Basin - Oklahoma - Southern SCOOP region
~17,400 net contiguous acres
Reserves are from the Caney Formation
Proved and Probable 52.2 million gross barrels of oil equivalent*
Proved, Probable and Possible 77.0 million barrels of oil equivalent*
Caney is present over the entire acreage block
The oil and gas reserves and resources estimates included in the table have been prepared in accordance with National Instrument 51-101 — Standards of Disclosure for Oil and Gas Activities ("NI 51-101"), which has been adopted by securities regulatory authorities in Canada and imposes oil and gas disclosure standards for Canadian public issuers engaged in oil and gas activities and differ from the oil and gas disclosure standards of the SEC under Subpart 1200 of Regulation S-K. NI 51-101 permits oil and gas issuers, in their filings with Canadian securities regulatory authorities, to disclose not only proved and probable reserves but also resources, and to disclose reserves and production on a gross basis before deducting royalties.