11:53 AM EDT, 06/25/2025 (MT Newswires) -- (Updates shares.)

Kolibri Global Energy ( KGEI ) traded 2.4% higher at last look Wednesday as the company provided corporate and operational updates.

The company said its subsidiary Kolibri Energy US increased its revolving line of credit by 30% to US$65 million from US$50 million. The current outstanding amount drawn on the credit facility is US$30.5 million, Kolibri said.

"The 30% increase in our borrowing base provides us with more working capital flexibility and supports our production and cash flow growth initiatives and continues to demonstrate the value of the field," said chief executive Wolf Regener.

Kolibri also said it expects to be included in the Russell 2000 Index at the conclusion of the 2025 Russell Indexes Annual Reconstitution, effective on June 27.

Kolibri said membership in the Russell 2000 Index, which remains in place for one year, includes inclusion in the appropriate growth and value style indexes.

"We are also excited that inclusion in the Russell 2000 index will further improve the visibility of our company among investors," Regener said. "This is a significant milestone for us, which we believe is a result of our successful efforts to increase shareholder value."

Meanwhile, Kolibri said the Lovina 9-16-1H, Lovina 9-16-2H, Lovina 9-16-3H, and Lovina 9-16-4H wells in Oklahoma are currently being fracture stimulated.

Kolibri said the completion operations are proceeding well despite heavy rains. It expects the wells to begin production in July.

"We are looking forward to the additional production from all of these wells, which we expect will significantly increase the company's cash flow," Regener said.

The company's shares were last seen up $0.22 to $9.35 on the Toronto Stock Exchange.

Price: 9.36, Change: +0.23, Percent Change: +2.52