From Investing.com: 2024-05-19 08:46:22

Kolibri Global Energy Inc. reported mixed Q1 2024 results with strong production at 3,305 BOE/day but a 9% decrease in adjusted EBITDA to $10.4 million. Despite lower prices and higher OpEx, the company’s net revenue stayed stable at $14.2 million. An increase in the line of credit from Bank of Oklahoma reflects positive outlook and financial flexibility. The company is optimistic about future operations, focusing on production growth and operational efficiencies.

InvestingPro data highlights Kolibri’s strong gross profit margin of 86.98% and a P/E ratio of 7.64, indicating potential undervaluation. Analysts predict profitability for the year due to efficient operations and credit facility expansion. However, investors should note the company’s cash burn and short-term obligations exceeding liquid assets. For further insights, InvestingPro offers additional tips and analysis with a discount using the code PRONEWS24.

Wolf Regener announced Kolibri’s successful Q1 performance and line of credit increase from BOK. Average production jumped 3% to 3,305 BOE/day, exceeding year-end forecasts. Despite a 9% drop in adjusted EBITDA to $10.4 million, the company demonstrated growth and operational improvements. Gary Johnson highlighted stable net revenue of $14.2 million and decreased operating expenses of $8.36/BOE. The company remains focused on capital efficiency and continual improvement in operations.



Read more at Investing.com: Kolibri Global Energy Q1 2024 report shows growth By Investing.com