Kolibri Global Energy Inc. provided an operations update for its Tishomingo field in Oklahoma. Barnes 8-1H and 8-2H Caney Wells: The Barnes 8-2H well had a thirty-day production rate of 476 barrels of oil equivalent per day (BOEPD), with 80% being oil. The Barnes 8-1H had a 30-day production rate of 390 BOEPD, with 81% being oil.

The Companyattributes the higher production rate of the Barnes 8-2H well to it being in the Lower part of the Caney formation but believes both are economic wells at their forecasted decline curves. The data collected to date indicates that the optimum development of the Caney, at six well spacing, should be with all six wells placed in the lower Caney, which will access the Upper and Lower Caney reserves. The Barnes 8-3H, T-zone Well: The Barnes 8-3H well, which is the first T-zone well that utilized the Company's latest fracture stimulation technique, is performing better than previous T-zone wells.

The well had a thirty- day production rate of 480 BOEPD, with 68% being oil. The Barnes8-3H is producing at a 20% higher oil rate than previous best performing T-zone well. Drilling is underway on the Barnes 7-5H well, which will be followed by the Barnes 7-4H well.

Both wells are targeting the Lower Caney formation, and both will be fracture stimulated simultaneously after the drilling is complete. The Company now plans to drill another three well pad immediately after the Barnes 7-4H is finished drilling. The three well pad is planned to consist of two Lower Caney formation wells and one T-zone well.

This will expand 2023 drilling program to eight wells from the previous forecast of 6-7 wells for the year. The Company plans to release earnings after market close on August 3, 2023, and has also uploaded a new investor presentation to its website.