Duyuru • Apr 22
Condor Energies Inc. has completed a Follow-on Equity Offering in the amount of CAD 28.6 million. Condor Energies Inc. has completed a Follow-on Equity Offering in the amount of CAD 28.6 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: CAD 2.6
Discount Per Security: CAD 0.156
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 1,000,000
Price\Range: CAD 2.6
Discount Per Security: CAD 0.052
Transaction Features: Regulation S; Rule 144A Duyuru • Apr 15
Condor Energies Inc. has filed a Follow-on Equity Offering. Condor Energies Inc. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Price\Range: CAD 2.6
Discount Per Security: CAD 0.156
Security Name: Common Shares
Security Type: Common Stock
Price\Range: CAD 2.6
Discount Per Security: CAD 0.052 Duyuru • Apr 14
Condor Energies Inc. Provides an Operational Update on Its Uzbekistan Project Condor Energies Inc. provided an operational update on its Uzbekistan project. Condor has reached a corporate milestone by exceeding 14,000 boe/d of daily production following the commencement of production from the recently drilled Kumli-46 horizontal well (K-46) including total average daily production of 13,938 boe/d for the past seventy-two hours and 14,013 boe/d for the past 24 hours. The well initially flowed at a peak rate of 18.3 MMscf/d (or 3,050 boe/d) but has been restricted to manage the high gas stream velocities. No production decline has been observed in K-45 or K-46 to date, nor is any expected in the near term given the high flowing tubing pressure of over 1,400 psi recorded in K-46 over the past seventy-two hours. The follow-up Kumli-47 horizontal well (K-47) has already drilled to its surface casing point at 509 meters and casing is being run and cemented. K-47 targets the same sucrosic dolomite formation drilled in K-46, providing a high porosity reservoir that yields exceptional gas rate deliverability and is scheduled to reach total depth by mid-May 2026. Concurrently, ongoing workover operations continue to mitigate an annual 20% natural reservoir decline rate observed from the legacy wells. Duyuru • Apr 10
Condor’s K-46 Horizontal Well Flows At Up to 18.3 MMscf Per Day Condor Energies Inc. provided an operational update on its Uzbekistan project. The Kumli-46 horizontal well (“K-46”) was drilled to a total depth of 3,150 meters and includes an 817-meter open-hole lateral section that offsets the previously drilled K-45 vertical well (“K-45”) which encountered two primary gas intervals containing high-quality reservoirs. The horizontal lateral leg penetrated a sucrosic dolomite formation, providing a high porosity environment that yielded greater gas rate deliverability. The well was initially flowed at 18.3 MMscf/day (or 3,050 boe/d) but was choked back to prevent possible gas hydrate formation that could plug the wellhead. Accordingly, a single rate well test was conducted at a stabilized flowing rate of 15.5 MMscf/d (or 2,583 boe/d) through a 52/64” choke at a flowing tubing pressure of 1,235 psi for four hours. The stabilized surface flow rate equates to a sandface absolute open flow rate (“AOF”) of 67 MMscf/d (or 11,167 boe/d). A preliminary condensate-gas ratio from the flow test is 5 barrels per MMscf. As previously disclosed, the K-45 vertical well sandface AOF was 7.1 MMscf/d (or 1,183 boe/d). K-46’s initial reservoir pressure is estimated to be 2,695 psi, indicating about 9% below estimated virgin pressure conditions. Pipeline tie-in activities will be completed by mid-April to ensure a rapid transition to gas sales. The drilling rig has moved to K-47 on the same drilling pad and will begin drilling by mid-April in an opposing direction to K-46, targeting the prolific upper reservoir interval tested by K-46. Two additional upper reservoir horizontal development locations are planned from a second drilling pad that is currently being constructed and is located to the northeast of the existing pad. Up to two additional horizontal wells are also planned for each pad that target a lower reservoir also identified by K-45. Concurrently, acceptance testing of the Company’s first LNG facility continues as preparation is underway for its shipment to Kazakhstan during the second quarter. Due diligence work is also ongoing with multiple third-party finance groups to finalize definitive agreements. Having already secured three LNG feed gas allocations, Condor is positioned to benefit as the LNG industry evolves in Kazakhstan. Duyuru • Apr 07
Condor Energies Inc., Annual General Meeting, Jun 18, 2026 Condor Energies Inc., Annual General Meeting, Jun 18, 2026. Location: alberta, calgary Canada Duyuru • Feb 18
Condor Energies Inc. Announces Kumli Field Extension with Successful 5.3 MMscf/d Well Test Condor Energies Inc. provided an update on well testing activities on its Uzbekistan gas development project. The Kumli-45 vertical well (“K-45” or the “third well”) was drilled to a total depth of 2410 meters and included cutting an 18-meter core from one of the targeted pay sections. Based on open hole wireline logs, 19.9 meters of net carbonate reservoir were encountered in four separate intervals. Reservoir quality in the main pay zone exceeded pre-drill expectations with an average porosity of 16% and streaks exceeding 20%. Three reservoirs were perforated and acid washed to enhance near wellbore deliverability. A single rate well test was conducted at a stabilized flowing rate of 5.3 MMscf/d (or 883 boe/d) through a ½ choke at a flowing tubing pressure of 1053 psi for seven hours. The stabilized surface flow rate equates to a sandface absolute open flow rate of 7.1 MMscf/d (or 1183 boe/d). A preliminary condensate-gas ratio from the flow test is 5.6 bbls/MMscf. K-45’s initial reservoir pressure is estimated to be 2896 psi, indicating near virgin pressure conditions. The well is located on the western half of the Kumli Northwest Field (“Kumli NW”) and a near virgin pressure at this location increases the remaining undeveloped potential of the structure. K-45 is expected to be placed on production later this month once the drilling rig is moved to the next well slot on the same pad. The Company plans to drill an additional four horizontal wells from this pad, with the first two horizontal wells targeting the same primary reservoir encountered in K-45 and the other two other wells targeting a deeper reservoir. A matrix acid stimulation that can potentially further increase the current flow rate is also in the planning stages. As previously disclosed, the Company’s second well of its multi-well campaign, Andakli-21 (“A-21”), reached TD at 3456 meters which includes a 1279-meter open hole lateral section, setting a record for the longest horizontal drilled in Uzbekistan. Reservoir quality exceeded pre-drill expectations with 223 meters of the lateral section indicating up to 12% visible porosity as observed in the drill cuttings. The drilling rig is being moved off of A-21 and preparations are underway to perform an acid stimulation of the lateral section to remove any near wellbore drilling fluid invasion and enhance productivity and A-21 is expected to be brought onto production later this month. In addition, the lateral section of the Company’s previously drilled Andakli-23 well (“A-23”) will also be acid-stimulated, tested, and brought online in March 2026. Duyuru • Jan 29
Condor Energies Inc. Provides Drilling Update for Uzbekistan and Turkiye Projects Condor Energies Inc. provided an update on its Uzbekistan and Turkiye projects. The Company's second well of its multi-well campaign, Andakli-21 ("A-21"), has reached TD at 3456 meters which includes 1279 meters of open hole lateral section, setting a record for the longest horizontal drilled in Uzbekistan. The A-21 well was successfully geo-steered to intersect over 960 meters of carbonate reservoir as defined by drill cuttings and containing greater than 6% visible porosity. Both acid stimulations will be conducted using small diameter tubulars while a larger diameter coil tubing unit is mobilized to site later in the first quarter of 2026. The Company is concurrently operating a second drilling rig to drill its third well in Uzbekistan in an underdeveloped portion of the Kumli gas field. Kumli-45 is a vertical well with a planned TD of 2400 meters and targets multiple reservoirs. There was no cash payment due on the Signing Date. Subject to certain considerations, the Buyer is required to perform a minimum work commitment (the " minimum work commitment") which includes conducting various workover activities and drilling one new well on the Turkish Properties. Commencing sixty days following the Signing Date, the Buyer is also responsible for all operating expenditures until the Completion Date including production costs, general and administrative expenses and taxes. The Buyer has the option during between the Signing Date and the Completion Date (the "Interim Period") to request the Company, as Operator, to perform activities that will be credited towards the Minimum Work Commitment. Either party may terminate the SPA if the Government Approvals are not received within one year of the Signing Date and the Company would be required to repay the capital expenditures incurred for the Minimum Work Commitment activities performed during the Interim Period from ninety% of the free cashflow (revenues less operating costs and taxes) from future natural gas production and sales from the Turkish Properties, if any. Duyuru • Jan 13
Condor Energies Inc. Provides Operations Update on Uzbekistan Condor Energies Inc. provided an update on its Uzbekistan operations. Well completion and testing activities are continuing for the Company's first horizontal well (the First Well), which includes a 1007-meter lateral section that is the longest ever drilled in Uzbekistan. During completion operations, a coil tubing unit was deployed to displace the completion fluid from the horizontal section and perform a routine acid stimulation but was unable to access the entire lateral section including the intervals where the strongest gas show readings were recorded. The coil tubing's small diameter has limited the ability to reach the end of the open hole lateral section without potentially damaging (buckling) it. Alternatives to access the entire lateral section include acquiring a larger diameter coil tubing or a small diameter drill string, both of which are being actively sourced. In the meantime, a shallower carbonate zone identified in the First Well's pilot wellbore has been completed and tested. The test was conducted over a 6-hour flow period at stabilized conditions with a flow rate of 3.6 MMscf/d through a 9.5 mm choke and a flowing tubing pressure of 1120 psi. In addition to the reported gas rates, the well flowed 46-degree API condensate at rate of 5.1 barrels per day and water rate of 2.7 barrels per day. The First Well has been tied-in and is producing while awaiting the equipment to access the well's lateral section. The First Well drilling rig has since spudded a second horizontal well (the "Second Well") on the same pad and intermediate casing has been set at 2178 meters. Drilling the lateral section is expected to commence later this week. The Second Well lateral section will be in the shallower carbonate interval that was just successfully tested on the First Well and is targeting early February 2026 to begin completion and testing activities. A second drilling rig also commenced operations (the Third Well) in an under-developed gas field located in the southern region of the Company's licenses and is currently drilling its intermediate hole section to 2150 meters and is expected to penetrate the targeted reservoirs in January 2026. The Third Well is being drilled vertically to a planned total depth of 2400 meters to confirm current mapping, collect modern wireline data and core samples, and provide preliminary test rates are expected by mid-February 2026. The Third Well will be followed by another pad-style horizontal development drilling program targeting three reservoirs with up to six horizontal wells. This under-developed gas field is currently producing from a single downdip gas well where Condor perforated an eight-meter-thick carbonate interval which increased the well's average daily production from 1.1 MMscf/day to 7.5 MMscf/day for the first thirty days and has averaged 5.5 MMscf/day for the past ten months. That workover de-risked the large undeveloped, up-dip structural closure that the Third Well is targeting. A second pad location is also envisioned to develop this structure as it could represent material reserves volumes. Duyuru • Dec 25
Condor Energies Inc. announced that it has received CAD 12 million in funding On December 24, 2025, Condor Energies Inc. closed the transaction. The company issued convertible debentures for gross proceeds of CAD 13,650,000, including the partial exercise of the over-allotment option. The convertible debentures issued under the offering and the common shares issuable upon conversion of the convertible debentures are subject to a hold period expiring April 25, 2026. Each broker warrant entitles the holder thereof to acquire one common share at a price of CAD 2 per common share at any time until December 24, 2028. Duyuru • Dec 10
Condor Energies Inc. announced that it expects to receive CAD 10 million in funding Condor Energies Inc. announced that it has entered into an agreement with Research Capital Corporation, as the sole bookrunner and co-lead agent, together with Canaccord Genuity Corp., as co-lead agent, on behalf of a syndicate of agents, including Auctus Advisors LLP (collectively, the “Agents”) in connection with a brokered private placement 10,000 convertible debentures at a price of CAD 1,000 per Convertible Debenture for aggregate gross proceeds of up to CAD 10,000,000 on December 9, 2025. Each Convertible Debenture has a principal value of CAD 1,000, convertible into common shares of the Company (each a "Common Share") at a conversion price of CAD 2.00 per Common Share (the "Conversion Price"), maturing on the date that is 36 months from the date of issuance (the "Maturity Date"). Interest shall accrue on the Convertible Debentures at 12% per annum, payable semi-annually in cash. The Convertible Debentures will be repaid in cash on the Maturity Date. The Offering will be offered by way of private placement exemptions in each of the provinces of Canada and may also be offered in other jurisdictions where the Offering can lawfully be made, including the United States under applicable private placement exemptions. The Convertible Debentures to be issued under the Offering and the Common Shares issuable upon conversion of the Convertible Debentures will have a statutory hold period of four months and one day from closing of the Offering. The Offering is anticipated to close on or about the week of December 22, 2025, or such earlier or later date as the Agents and the Company may determine. The terms and closing of the Offering are subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Toronto Stock Exchange. The Company has agreed to pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering (subject to a reduced commission for certain orders on a president’s list). In addition, the Company has agreed to issue to the Agents such number of broker warrants of the Company equal to 3% of the number of Common Shares issuable upon conversion of the Convertible Debentures (subject to a reduced commission for certain orders on a president’s list). The broker warrants are exercisable for a period of 36 months following the Offering at an exercise price of CAD 2.00 per broker warrant. Notwithstanding the foregoing, the Company has agreed to pay to the Agents a reduced cash commission equal to 2% of the gross proceeds of certain president’s list orders. Duyuru • Nov 25
Condor's First Horizontal Well in Uzbekistan Reaches TD While Two New Zone Workovers in an Adjacent Field Condor Energies Inc. announced its first horizontal well in the Andakli field in Uzbekistan, Andakli-23 has reached total depth in the Jurassic carbonate reservoir while two recent workovers from a newly discovered gas zone in the A-23 deeper Jurassic clastics interval have increased average daily production of gas and condensate to 11,844 boepd over the past three days. Andakli-23 horizontal well has reached a TD of 3775 meters including 1007 meters of open hole horizontal section. The completion string has been run with the drilling rig and an initial flow back of gas and drilling fluids has been observed at surface. Once the drilling rig has been moved off, a service rig will be used to flow test the well, which is then expected to be placed on production in December. Duyuru • Oct 24
Condor Energies Inc. Provides an Operational Update on Its First Horizontal Well in Uzbekistan Condor Energies Inc. announced it has finished drilling the vertical portion of its first well in Uzbekistan (the "First Well") to a total depth of 2805 meters. The initial portion of the First Well was drilled as a vertical pilot to penetrate and evaluate currently producing carbonate reservoir sections as well as deeper, under-exploited stacked clastic reservoir sections. Based on petrophysical analysis of wireline log data, 28.5 meters of non-contiguous net gas pay was intersected in the carbonate reservoirs, and 9.1 meters of non-cont contiguous net gas pay was intersected In the deeper clastics sections. The horizontal portion of the First Well is expected to be completed and tested in November 2025 and, as previously disclosed, could achieve an internally estimated initial production rate between 13 and 20 MMscf/day. The Company is engaging a contractor to provide a second drilling rig to concurrently drill at an under-developed gas field located in the southern region of the Company's licenses in Uzbekistan. This field is currently producing from a single downdip gas well where Condor recently perforated an eight-meter thick carbonate interval which increased the well's average daily production from 1.1 MMscf/day to 7.5 MMscf/day for the first thirty days and has produced an average of 6.2 MMscf/day for The past five months. This recompletion has also de-risked the large undeveloped, up-dip structural closure that was identified on the Company's recently reprocessed and interpreted 3-D seismic data. With the second drilling rig, Condor plans to drill a vertical well through the top of the structure to confirm current mapping, collect modern wireline and core data, and provide test rates. This will be followed by a pad-style horizontal development drilling program targeting three reservoirs with up to five horizontal wells drilled in 2026 to further accelerate production. Duyuru • Jun 20
Condor Energies Inc. Approves Election of John Chambers as Director Condor Energies Inc. announced that at its AGM held on June 19, 2025, shareholders approved the election of John Chambers as director. Duyuru • Jun 19
Condor Energies Inc. Provides an Operations Update Condor Energies Inc. provide an update. Uzbekistan: Production for June has averaged 11,350 boepd to date which is slightly above the first quarter of 2025 average of 11,179 boepd. Production rates in the second quarter of 2025 have been partially restricted due to unplanned downstream infrastructure maintenance at non-Company operated facilities and recent workovers that were focused on data gathering to enhance geologic and reservoir modeling for the upcoming drilling campaign. The resulting second quarter production to-date is 10,332 boepd. Well workover activities have since returned to production-add opportunities and the downstream facilities are fully operational. A drilling rig is scheduled to mobilize in July 2025 and begin a multi-well drilling campaign that will target numerous play types within a diverse prospect inventory. A combination of vertical, horizontal and Uzbekistan’s first multi-lateral wells will penetrate under-developed reservoirs in the existing fields. In addition to penetrating the currently producing Jurassic Carbonates, the first well will be a vertical well drilled to the basement rocks to evaluate the deeper under-explored Jurassic Clastics and the potential for a fractured basement play type. The second well is intended to be a horizontal well with up to a 1500-meter lateral section. Wells are planned to be completed with modern stimulation techniques to further increase production rates. The company has also installed and commissioned four in-field flowline water separation systems to remove produced fluids at the field gathering network rather than at the production facilities. This reduces flowline pressure that can lead to higher reservoir flow rates. A fifth in-field flowline unit is being installed and expected to be commissioned in early July 2025. Engineering design work is also ongoing for field compression that could further boost production rates. Kazakhstan: As previously disclosed, the Company has purchased its first modular LNG facility (the “First Facility”) which is capable of producing 48,000 gallons (80 MT) of LNG per day. Fabrication of the First Facility is on track to be completed in the fourth quarter of 2025 and begin LNG production in the second quarter of 2026. The LNG off-taker agreement is expected to be executed shortly. Duyuru • Apr 09
Condor Energies Inc., Annual General Meeting, Jun 19, 2025 Condor Energies Inc., Annual General Meeting, Jun 19, 2025. Location: alberta, calgary Canada Duyuru • Mar 10
Condor Energies Inc. Receives Second Critical Minerals Mining License in Kazakhstan Condor Energies Inc. announced that it has been awarded a second critical minerals mining license (the "Kolkuduk License") by the Government Ministry responsible for mining in the Republic of Kazakhstan. Condor has a 100% working interest in the 6,800-hectare Kolkuduk License which provides the exploration rights for mining solid minerals for a six-year term. The Kolkuduk Licence is in close proximity to the Company's existing 37,300-hectare Sayakbay critical minerals license (collectively the "Licenses") and both are located in a heavily faulted, geothermally active region, allowing migration of mineralized brines into reservoirs. The Licenses are also adjacent to other developing hard rock mining operations focused on critical minerals. Both Licenses are strategically positioned between Europe and China, providing direct access to existing and robust critical minerals markets. A prior well drilled in the Kolkuduk License territory for hydrocarbon exploration encountered and tested brine deposits with lithium concentrations of up to 130 milligrams per litre as reported by the Ministry of Geology of the Republic of Kazakhstan. A 1,000-meter column of tested and untested brine reservoir has been identified from historical wireline log and core data. Other critical minerals identified include rubidium, strontium and cesium. Duyuru • Feb 21
Condor Energies Inc. Updates on the Eight Gas Fields Production Enhancement Project It Operates in Uzbekistan Condor Energies Inc. provided an update on the eight gas fields production enhancement project it operates in Uzbekistan. On a recent workover operation, a potential gas pay section was identified using advanced cased-hole logging tools and reprocessed existing 3-D seismic data which provided significant formation imaging improvements. Prior to the workover, the well had watered out and was not producing. After perforating 23 meters of this newly identified 60-meter interval, the well began flowing at over 1,100 boepd based on a 24-hour production test and has increased to 1,300 boepd during the past 5 days as the completion fluid has now been recovered. At least five additional well candidates have been identified with similar geologic characteristics using a combination of legacy data and reprocessed 3-D seismic data. Over the coming weeks, these wells will be evaluated to identify potential pay intervals and perforated accordingly. The Company is currently operating two workover rigs and a wireline unit. A third workover rig and second wireline unit with advanced evaluation tools from a North American based services provider is mobilizing to Uzbekistan. Average production for the fourth quarter of 2024 was 10,510 boepd, up 5% from the third quarter of 2024 and yielded Fourth Quarter sales revenues of CAD 20.9 million. Production was hampered in the latter part of December 2024 and January 2025 mainly from natural decline rates, as the two workover rigs focused on evaluating shallower Cretaceous-aged, stacked channel sands that had not previously been penetrated on the fields. Despite gas flowing to surface, wellhead pressures were not sufficient to match the existing flowline gathering system pressures. This was likely due in part to having limited zonal isolation to prevent water flows and also not having perforating charges that fully penetrated through two existing casing strings to provide unimpeded access to these gas reservoirs. Given that gas presence was confirmed at surface, Condor will further evaluate these Cretaceous channel sands as part of its 2025 infill well drilling campaign. Both workover rigs have now resumed work on Carbonate formation intervals and production for the past 5 days has averaged 11,455 boepd as newly perforated Carbonate zones begin flowing. Duyuru • Dec 10
Condor Energies Inc. announced that it has received CAD 19.377306 million in funding from EurAsia Resource Value S.E., Research Capital Corporation On December 9, 2024, the company has closed the transaction. The company has issued 5,263,150 LIFE Common Shares and 4,935,432 Accredited Investor Common Shares at an issue price of CAD 1.90 for aggregate gross proceeds of CAD 19377305.8. In connection with the Offering, the Company paid to the Agents a cash commission of CAD 698,364 and issued to the Agents
169,042 broker warrants. In addition, the Agents received an advisory fee of approximately CAD 250,000 and 52,122 advisory broker warrants on the same terms as the Broker Warrants. Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of CAD 2.20 per Common Share at any time on or before December 9, 2026 Duyuru • Nov 22
Condor Energies Inc. announced that it expects to receive CAD 10 million in funding from EurAsia Resource Value S.E., Research Capital Corporation Condor Energies Inc. entered into an agreement with Research Capital Corporation and EurAsia Resource Value S.E in a brokered private placement issued 5,263,158 common share at a price of CAD 1.9 per share for gross proceeds of CAD 10,000,000 on November 20, 2024. The Offering is anticipated to close on or about December 5, 2024, or such later date as the Agents and the Company may determine. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Toronto Stock Exchange. The Company has agreed to pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering Duyuru • Oct 29
Condor Energies Inc. Provides an Operational Update for Its Eight Gasfield Production Enhancement Project in Uzbekistan Condor Energies Inc. provided an operational update for its eight gas field production enhancement project in Uzbekistan. Two recently worked-over wells have returned to service and are providing 441 boepd of incremental production, after a combined 20 meters of previously unperforated reservoir pay was accessed. Prior to the workovers, the first well wasn’t producing and is now flowing 410 boepd based on a 24 hour production test. Although the second well is still recovering workover fluids, its incremental flow rate is already 31 boepd or a 65% increase, also based on a 24 hour test. As disclosed earlier this month, three prior workovers added a cumulative 330 boepd of incremental production. A second rig that was planned for delivery in early November has already begun workover activities on a well that is targeting up to 25 meters of previously unperforated reservoir. With over 100 wells in the eight fields, there is a large inventory of both producing and shut-in wells available for evaluation, recompletion and optimization opportunities to profitably grow production. The extensive geological evaluations performed, coupled with recent workover results, suggest that material untapped hydrocarbon potential exists within the carbonate formations of the Company’s 279 km2 license area. These carbonate platforms contain thick reservoir sections interbedded with laterally extensive evaporite layers, creating ideal conditions for hydrocarbon trapping. The reservoirs are analogous to carbonate formations in Canada’s Western Canada Sedimentary Basin (“WCSB”), such as the Charlie Lake and Midale, which continue to be successfully monetized. By leveraging this geological similarity, the Company is maturing the potential of horizontal and multi-lateral drilling, a proven method in Canada to enhance deliverability and maximize recovery from these reservoirs. Duyuru • Apr 12
Condor Energies Inc., Annual General Meeting, Jun 20, 2024 Condor Energies Inc., Annual General Meeting, Jun 20, 2024.