Condor Petroleum: 2015 Results – Reserve Replacement Running at 183%
Condor Petroleum Inc. (“Condor” or the “Company”) (TSX: CPI) is pleased to announce the release of its Consolidated Financial Statements for the year ended December 31, 2015, together with the related Management’s Discussion and Analysis. These documents will be made available under Condor’s profile on SEDAR at www.sedar.com and on …
Condor Petroleum: KN-501 – Non Commercial But Does Confirm Hydrocarbon Source, Migration, Trap and Seal are Present
Condor Petroleum Inc. is pleased to announce the release of its Unaudited Interim Consolidated Financial Statements for the three and nine months ended September 30, 2015, together with the related Management’s Discussion and Analysis. These documents will be made available under Condor’s profile on SEDAR at www.sedar.com and on the …
Condor Petroleum: Well KN-501 Reaches Total Depth with No Commercial Hydrocarbons
Condor Petroleum Inc. has reached a total depth of 3,992 meters on the KN-501 Primary Basin well located on the Company’s 100% owned Zharkamys West 1 Territory in Kazakhstan. Numerous gas shows were encountered while drilling the main hole section from 3,530 meters to TD, although no commercial hydrocarbon reservoirs …
Condor Petroleum: Spins Bit at KN-501 Primary Basin Well in Zharkamys West 1
Condor Petroleum Inc. is pleased to announce that drilling operations have commenced on the KN-501 Primary Basin well on the Company’s 100% owned Zharkamys West 1 Territory in Kazakhstan. The KN-501 Primary Basin well is targeting 67 mmboe unrisked mean prospective resources and is planned to reach a depth of …
Condor Petroleum: Tender Out for Drilling
The Company plans to commence with export oil sales from Shoba and Taskuduk later on this year once the respective commercial production contracts are executed. Condor Petroleum Inc. is pleased to provide an update on operational activities on the Zharkamys West 1 Territory in Kazakhstan. Shoba Trial Production Production at …
Condor Petroleum: Appraisal Well at Kiyaktysai Hits 71m of Pay
Condor Petroleum Inc. is pleased to provide an update on operational activities on the Zharkamys West 1 Territory in Kazakhstan (“Zharkamys”). Appraisal Well at Kiyaktysai encounters multiple reservoirs: The KN-E-205 Primary Basin appraisal well was drilled to a total depth of 1876 meters and encountered three sandstone reservoirs from 1208-1410 meters, …
Condor Petroleum: Completes US$88m Marsel Sale
Condor Petroleum Inc. is pleased to announce that the sale of Condor’s 66% interest in the Marsel Territory for US$88.0 million (“Marsel Transaction”) was completed on January 28, 2014. After registering the Marsel Transaction with certain regulatory authorities in Kazakhstan, US$83.0 million (CA$91.3 million) held in escrow was released and …
Condor Receives Final Approval for the Sale of Marsel
Condor Petroleum Inc. is pleased to announce the receipt of Kazakhstan Antimonopoly Agency approval for the sale of Condor’s 66% interest in the Marsel Territory for US$88 million (the “Marsel Transaction”). All conditions for completion have now been satisfied and the Marsel Transaction is expected to close by the end …
Condor Announces Closing of $15,000,000 Senior Unsecured Note Financing
Condor Petroleum Inc. is pleased to announce the issuance of a senior unsecured note in the principal amount of CAD $15,000,000. The Note shall bear interest at 16% per annum with 1% payable on closing and the remaining 15% accruing daily and payable quarterly in arrears. These funds allow the …
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 …