06:04 AM EDT, 03/26/2025 (MT Newswires) -- Kolibri Global Energy ( KGEI ) late on Tuesday reported a 14% increase in net income per share in the fourth quarter as production surged more than 50%.

Net income was US$5.6 million, or US$0.16 per share, up from US$4.8 million, or US$0.14 per share.

Adjusted EBITDA came in at US$13.5 million, rising from US$10.5 million. Net revenue grew to US$17.4 million from US$13.4 million.

Average production was 4,440 barrels of oil equivalent per day, an increase from 2,842 boe/d.

The company's 2025 production forecast of 4,500 to 5,100 boe/d represents an increase of 29% to 47% from 2024 actual production.

Kolibri also expects 2025 revenue to be US$75 million to US$89 million, which is a 28% to 52% increase from 2024 actual revenue.

The adjusted EBITDA forecast for 2025 of US$58 million to US$71 million is a 32% to 61% increase from 2024 actual adjusted EBITDA.