Kolibri Global Energy Inc BNKPF

RE:Q2 Earnings and Update on Strategic Options

[BrokerG]

Well were do I start.

1] Positive net income of $1.5 million. Primarily do to hedging contracts. 
2] Most important line in financials: "At June 30, 2019 , the Company's US subsidiary had borrowed all of the committed amount of $30.0 million on the credit facility with BOK Financial.  The Company paid down $0.5 million of the commitment amount in August 2019." In other words, the Bank is NOT lending them more money. Therefore, in order to develop field they will have to do with cash flow from operations. Hence the reason we have not heard of any drilling this year yet. They have NO money.
3] Second most important line: "The special committee of the board of directors of the Company continues to examine and evaluate all strategic options as it has received interest in various options from third parties. That is the same line they gave last quarter. Sorry but there is an old line: "Sh-t or get off the pot". It does not take 5 months to review offers. I hate to break this to management and the Board but you have no MONEY. Review the offers and take the best one. You do not have the luxury of waiting years for cash flow in order to build one well per year.

Unfortunetaly for us shareholders it looks like we will not be receiving anywhere close to a fair price.[ $1.00/per share]. My best guess, yes himmler it is just an opinion, is we are looking at takeover at .50 cents[max] or a joiint venture with XTO.

I would love to hear any other opinions or comments.