$KGEI

Kolibri Global Energy Inc.

CIK:0001477081|SEC Filings

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenue
Oil and natural gas revenues, net of royalties (Note 7)	$ 56,856	$ 58,524
Other income	565	127
Total revenue	57,421	58,651
Expenses
Production and operating expenses	9,243	8,233
Depletion, depreciation and amortization (Notes 9,10)	17,038	15,892
General and administrative expenses	5,695	5,636
Stock based compensation (Note 15)	1,744	1,075
Total expenses	33,720	30,836
Finance income
Realized gain on risk management contracts (Note 6)	189
Interest income	31	2
Unrealized gain on risk management contracts (Note 6)		336
Total finance income	220	338
Finance expense
Interest on loans and borrowings	3,291	3,382
Realized loss on risk management contracts (Note 6)		616
Unrealized loss on risk management contracts (Note 6)	32
Accretion	107	90
Interest on lease liability	143	82
Foreign exchange loss	3	4
Total finance expense	3,576	4,174
Net income before income taxes	20,345	23,979
Income tax expense (Note 11)	(4,868)	(5,864)
Net income and comprehensive income	$ 15,477	$ 18,115
Basic net income per share (Note 13)	$ 0.44	$ 0.51
Diluted net income per share (Note 13)	$ 0.43	$ 0.50

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash flows from operating activities
Net income	$ 15,477	$ 18,115
Adjustments for:
Depletion, depreciation and amortization expense	17,038	15,892
Accretion expense	250	172
Interest expense	3,291	3,382
Income tax expense	4,868	5,864
Unrealized loss (gain) on risk management contracts	32	(336)
Stock based compensation (Note 15)	1,744	1,075
Unrealized foreign exchange loss		10
Amortization of loan acquisition costs	162	195
Gain on sale of assets		(8)
Loss on asset retirement abandonment	8
Cash paid for interest	(3,232)	(2,990)
Cash paid for income taxes	(501)	(530)
Cash paid for asset retirement abandonment	(12)
Changes in non-cash working capital (Note 8)	2,410	(1,952)
Net cash from operating activities	41,535	38,889
Cash flows from investing activities
Additions to property, plant and equipment (Note 9)	(62,639)	(31,251)
Proceeds from sale of assets, net		8
Change in non-cash working capital (Note 8)	7,458	(4,965)
Net cash used in investing activities	(55,181)	(36,208)
Cash flows from financing activities
Proceeds from loans and borrowings	22,000	16,500
Repayment of loans and borrowings	(6,000)	(13,000)
Payment of financing costs	(645)	(67)
Purchases of treasury stock	(1,920)	(1,154)
Principal paid on lease payments	(1,356)	(1,203)
Interest paid on lease payments	(144)	(82)
Proceeds from stock option exercises	194	46
Net cash from financing activities	12,129	1,040
Foreign exchange effect on cash and cash equivalents		(5)
Change in cash and cash equivalents	(1,517)	3,716
Cash and cash equivalents, beginning of year	4,314	598
Cash and cash equivalents, end of year	$ 2,797	$ 4,314