Kolibri Global Energy Inc. (NASDAQ: KGEI) has revised its 2026 financial forecast upward and announced an expanded drilling strategy that adds new geological targets beyond its primary Lower Caney formation at its Tishomingo field in Oklahoma.

According to a press release, the company now forecasts 2026 average production of 4,700 to 5,200 barrels of oil equivalent per day, representing a 17% to 30% increase over fiscal year 2025. Projected revenue stands at $78 million to $84 million, up 37% to 48% from 2025. Adjusted EBITDA is forecast at $56 million to $62 million, with capital expenditures of $39 million to $43 million. Net debt at December 2026 is estimated at $38 million to $42 million. The forecast assumes a WTI oil price of $70 per barrel for the remainder of the year, down from the prior forecast assumption of $74 per barrel.

The company is expanding its drilling strategy to include the False Caney, Upper Caney, T-zone, and Sycamore formations, in addition to its existing Lower Caney development program. A well targeting the False Caney, the Lovina 5-8-1H (98.5% working interest), is planned as a two-mile lateral well and is scheduled to be drilled following the completion of three Clifton Mack wells currently being drilled.

The first Clifton Mack well required redrilling after unexpected geological conditions were encountered, resulting in a redesigned casing program with additional casing strings. The second and third Clifton Mack wells are being batch drilled with modifications informed by the first well. All three are planned for completion in the third quarter.

CEO Wolf Regener noted that the additional costs from the Clifton Mack redrilling are reflected in the updated forecast, and that pressure readings from the first well are seen as supportive of production rates from those wells.

The Upper Caney formation may be targeted in late 2026 or early 2027, with T-zone and Sycamore tests planned at a later, unspecified date.