Kolibri Global Energy Inc. is pleased to announce that the Borrowing Base of its indirect wholly owned subsidiary BNK Petroleum (US) Inc. was increased from US$40 million to US$50 million on its revolving line of credit (“Credit Facility”) from BOK Financial (“BOKF”), an increase of 25%. The current outstanding amount drawn on the Credit Facility is US$32 million.
Wolf Regener, President and CEO, commented, “We are very pleased to have BOKF’s continued support as we continue the development of our Tishomingo project. The 25% increase in our borrowing base provides us with more flexibility and supports our production and cash flow growth initiatives and demonstrates the value of the field.”
The other terms of the credit facility remain the same.
