Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQX: KGEIF) is pleased to announce that it has successfully fracture stimulated the first three wells of its 2023 drilling program in its Tishomingo field in Oklahoma.
All three wells were successfully fracture stimulated using our latest completion design, and the fracture stimulation plugs have been drilled out. The Barnes 8-2H well has begun flowing back the fracture stimulation fluid, and the Barnes 8-1H and Barnes 8-3H will begin flowback in the next few days. The Barnes 8-1H and 8-2H wells are in the Caney formation, and the Barnes 8-3H is in the T-zone.
The surface casing for the next two wells in our 2023 drilling program, the Barnes 7-4H and Barnes 7-5H, is expected to be installed in the coming week, and the drilling rig is scheduled to arrive in early July.
Wolf Regener, President and CEO commented, “We are excited that the flowback is starting from our latest three wells, including the well located in the T-zone. We are continuing the development of the Caney formation, with the next two wells to be drilled in July while we assess production from the Barnes 8-3H T-zone well for commercial rates. If achieved, commercial flow rates from the T-zone could potentially add many additional well locations and reserves that are not currently reflected in our reserve estimates. The T-zone formation is present over our entire acreage block and has been completed using our latest generation completion design that has been so successful in our 2022 Caney wells. We will announce flow rates from these wells once we have stabilized oil and gas rates.”
