Kolibri Global Energy Inc. Strikes Gas with Saha-1 Well, Offshore Suriname Block 58
Success Accelerates Company’s Suriname Exploration Program
Kolibri Global Energy Inc. (TSX.V: KEI) (“Kolibri” or the “Company”) announces that the Saha-1 exploration well, located in Block 58 offshore Suriname, has encountered approximately 98 meters of net gas pay in multiple stacked targets.
The Saha-1 well was drilled to a total depth of 4,975 meters and encountered several hydrocarbon-bearing zones within the primary and secondary targets, including the Campanian and Santonian intervals.
Detailed analysis of the well, including wireline logging and sampling, confirmed the presence of high-quality gas in multiple stacked reservoirs. The well has been successfully plugged and abandoned, and the rig will move to the next exploration target in Block 58.
“We are delighted to announce this significant discovery in Block 58, which has the potential to unlock significant value for Kolibri and our partners,” stated Mr. Evrard de Saint Remy, CEO of Kolibri. “The success of the Saha-1 well is a testament to our technical team’s expertise and the strength of our exploration portfolio.”
The Saha-1 discovery is located approximately 60 kilometers east of the coast of Suriname and is part of a broader exploration program in Block 58, which covers an area of 1.4 million acres. The company plans to drill multiple wells in 2023 to further evaluate the potential of the block.
Background
Suriname has emerged as a promising hydrocarbon exploration frontier in recent years, with numerous significant oil and gas discoveries in the Guyana-Suriname Basin. The country offers a favorable investment climate with competitive fiscal terms and a supportive regulatory framework.
About Kolibri Global Energy Inc.
Kolibri is an international oil and gas exploration and production company focused on Latin America. The Company’s strategy is to acquire and develop conventional and unconventional hydrocarbon assets with the potential for near-term production and cash flow. Kolibri’s common shares are listed on the TSX Venture Exchange under the symbol “KEI”.
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