Condor Initiates Gas Field Production Enhancement Operations in Uzbekistan

Source: www.gulfoilandgas.com 3/4/2024, Location: Asia

Condor Energies Inc. (“Condor”) (TSX:CDR), a Canadian based energy transition company is pleased to announce that it has initiated production enhancement operations of an integrated cluster of eight conventional natural gas-condensate fields in Uzbekistan (the “Project”) effective March 1, 2024.

Condor will be responsible for all costs of the Project, and in exchange for performing its services, it will receive a percentage of net revenues realized from the Project. All production from the Project will be supplied to the domestic market through sales arrangements with the authorized state entities.

Gas production increases are planned by implementing artificial lift, workover and infill drilling programs and investigating deeper horizons that are productive in other regions of the country. 3-D seismic reprocessing is also planned for this year to support these efforts. Additional reservoir and production data is being collected in the near term and a National Instrument 51-101 compliant reserves report will be completed thereafter.

Readers are invited to review the Company’s latest corporate presentation available on the Condor website at “condorenergies.ca”.


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