Kolibri Global Energy Inc BNKPF

RE:This explains the selloff and the weak trading

[bfw]

Mixed news.

Disappointing well....think that has been baked in to the price here.

Major working with them for next well.....good news. We have natural acquirers for this whole company.

Also, the strength in WTI is helping BKX limp along until they sell to a major.

bfw

auburn2 wrote:
"The Glenn 16-2H well has been on production for over 90 days and continues to perform very well. The well continues to exceed the possible type curve that was prepared by our outside reserve evaluators as at the end of last year.

After being re-started in early June, once a mechanical issue was addressed, the WLC 14-1H well 30 day initial production rate is 145 barrels of oil equivalent a day, with 130 barrels being oil. While production was increasing as more fracture stimulation fluid was recovered, it appears to have plateaued and is showing very low decline. The Company is conducting further analysis to determine the reason for the different flowback in this well compared to previous wells."

Too little production for a well costing that much, especially given the company's weak financial position. Just my opinon.