Condor Petroleum: Expands Zharkamys West 1 Territory

Condor Petroleum is pleased to announce that the Zharkamys West 1 Territory (“Zharkamys”) has been expanded by 43% or 1,124 km2 (278,000 acres) to a total area of 3,734 km2 (923,000 acres). The Company is targeting additional Pre‐Salt and Primary Basin exploration plays on the new acreage. Numerous prospective structures have already been identified and 3D seismic acquisition is planned to fully characterize the new acreage resource potential.

The Zharkamys expansion has been approved by the Ministry of Oil and Gas of the Republic of Kazakhstan and is expected to be added to the current exploration contract. The proposed minimum work program is an additional US$2.9 million. The Zharkamys expansion could substantially augment the Company’s existing 1,515 MMboe Prospective Resources.