#USA #London #Corporate Governance #Kolibri Global Energy #Tetragon Partners

Tetragon Partners Bids for Enhanced Oversight at Kolibri Global Energy

On February 9, 2026, Tetragon Partners UK LLP announced an important development concerning Kolibri Global Energy Inc. The UK-based asset management firm, which holds a significant share in Kolibri, formally requested the company’s Board of Directors to consider the nomination of three independent directors: Glen Brown, Lee Canaan, and Murray Grigg. This proposal aims at reinforcing operational oversight, especially in areas critical to shale development operations.

Focus on Key Changes

Tetragon's initiative is not just about appointments; it's a strategic move intended to realign the Board’s skills to address what it sees as essential value drivers for Kolibri. The firm advocates for a Board comprising five members, with the inclusion of the proposed nominees. Furthermore, Tetragon supports retaining existing members Wolf Regener and David Neuhauser on the Board. This strategic shake-up is designed with one primary objective: to bolster Kolibri's operational execution and capitalize on its high-quality asset base.

Tetragon argues that enhanced Board oversight could lead to better capital efficiency and more consistent operational execution, which are essential for maximizing long-term value in an evolving market. The emphasis of this board revision is largely on well management processes—covering drilling, spacing, and communication—areas of paramount importance for successful shale asset management.

The Nominees: A Power Trio with Diverse Expertise

The nominations put forth by Tetragon are headed by well-experienced industry professionals:

1. Glen Brown: With over 42 years in the oil and gas sector, Mr. Brown has significant experience as both a senior executive and an independent explorationist. He served as the Senior Vice President of Exploration for Continental Resources and has been involved in numerous management roles during his extensive career. His proven track record in identifying valuable acquisition targets and assessing project risks makes him a strong candidate for the Board.

2. Lee Canaan: As the founder and portfolio manager of Braeburn Capital Partners, Ms. Canaan boasts over 35 years of expertise in oil and gas and investment management. Her background as an Exploration Geophysicist equips her with a deep understanding of technical geophysical operations, adding a crucial layer of expertise to the Board.

3. Murray Grigg: Founder and CEO of both Americans Unconventional Petroleum Consulting and Kerogen Exploration, Mr. Grigg has specialized knowledge in shale oil reservoirs and exemplary management credentials. His role as an Engineering Advisor further underscores his capability to provide sound guidance on technical matters.

Collectively, these nominees offer a rich diversity of skills that blend extensive shale exploration experience, completion optimization knowledge, and a deep understanding of public company governance.

A Request for Swift Action

Tetragon has submitted its proposal well in advance of the upcoming 2026 annual shareholder meeting, showcasing a desire for proactive engagement. This preemptive step aims to provide the Board with ample time to entertain and thoroughly assess the nominations. Should the Board decide not to proceed with the nominations, Tetragon has indicated that it would explore methods to ensure the Board is adequately equipped with the necessary expertise to lead Kolibri effectively.

This initiative is part of Tetragon's broader strategy to advocate for better governance practices within companies it invests in. As the sector faces ongoing challenges and transitions, strong board leadership becomes ever-important for achieving operational success and maximizing shareholder value.

Conclusion

As the energy landscape continues to shift, Tetragon Partners' proactive stance in initiating changes to Kolibri’s Board is a clear signal of its commitment to fostering improved operational oversight. The proposed nominees not only bring ample experience but also a vision for innovative management practices essential for leading Kolibri into a successful future. This bold move may pave the way for new opportunities as shareholders await the Board's decisions in the coming months.