Kolibri Global Expects FY24 Revenue Between $60 Mln And $65 Mln

(RTTNews) - Kolibri Global Energy Inc. (KEI) Monday said it expects fiscal 24 revenue to be in the range of $60 million to $65 million. This is 18%-23% up from the company's revenue outlook for fiscal 23.

Adjusted earnings before interest, taxes, depreciation, and amortization or EBITDA for the year is expected to be between $46 million and $51 million, 18%-24% increase from fiscal 23 outlook.

Average production is expected to be in the range of 3,500 boepd to 4,000 boepd, 25% to 33% more than then fiscal 23 production outlook.

"We are looking forward to another strong year of revenue and cash flow growth for the Company, based on our 2024 forecast....The forecasted well costs were $7.2 million last year, and the cost for the last two Emery wells was about $5.4 million, which is a 25% reduction in well costs," commented Wolf Regener, President and CEO.