Kolibri Tests New False Caney Prospect After Completing Lovina Horizontal Well
Key Facts
Kolibri Global Energy is putting the Lovina 5-8-1HF well at the center of its test of the False Caney formation in Oklahoma, after including the well in its program to explore a new production horizon. Production figures attributed to the well in the November 11 statement could not be verified from a credible open source. In a September 21 update, the company described another well, named Lovina 8-5-1HF, as its first test of the formation and said its horizontal section extends 1.2 miles. This indicates that market interest in the news is tied to testing the geological formation and the possibility of adding it to the future drilling inventory. CEO Wolf Regener said in an earlier disclosure that successful results from the Lovina well could add drilling locations not currently listed and increase reserves.
In an October 15 update, the company said the Lovina 5-8-1HF well had been hydraulically fractured and that fluid flow was expected to begin early the following week after the frac plugs were drilled out. In its September update, Kolibri said it had finished drilling the horizontal section of the Lovina 8-5-1HF well and expected to begin fracturing it in early 4Q 2026. The company linked the formation test to the potential to expand available drilling locations, not to confirmed production additions. In September, it said proving a new production horizon in False Caney could add drilling locations and potential reserves to the reserves report scheduled for December 2026. The upcoming report therefore remains a stated milestone for assessing the impact of proving the formation, according to what the company said at the time.
The Clifton Mack wells provide operational context separate from Lovina’s performance. Kolibri said on October 15 that the three wells were producing a combined approximately 2,100 barrels of oil equivalent per day, including approximately 925 barrels of oil per day. It said the combined rate had risen approximately 55% from the previous week, while daily frac-fluid recovery rates remained nearly flat. These figures relate to the Clifton Mack wells and do not measure Lovina’s production or test results. At the company level, average production was 4,690 barrels of oil equivalent per day in 2Q 2026, up 46% from 3,220 barrels of oil equivalent per day in 2Q 2025. The company attributed the increase mainly to wells it drilled and completed during 2025.
KGEI shares closed at $5.21 on November 10, according to EL7 data. This price alone is not enough to link the share move to the well announcement, while verified data for the session’s high and low prices was unavailable. Attention on operational developments is focused on what the company will disclose about the Lovina test and the False Caney formation, and whether it will include a potential impact from the formation in the reserves report scheduled for December 2026. Kolibri has said that proving the new production horizon could add drilling locations and potential reserves to that report. Published production figures for Clifton Mack remain an indicator of the performance of other wells in the company’s portfolio, not a substitute for the Lovina test results.