Condor Energies Inc. has completed drilling the vertical portion of its first well in Uzbekistan, reaching a total depth of 2805 meters. Significant gas pay was found in carbonate and clastic reservoir sections. The company plans to drill a 1000-meter horizontal section, which could be extended beyond, aiming for an initial production rate of 13-20 MMscf/day.

A second drilling rig will be used to develop an under-developed gas field in Uzbekistan, where recent perforations increased average daily production from 1.1 MMscf/day to 7.5 MMscf/day. Condor plans to drill up to five horizontal wells in 2026 to accelerate production. The company’s CEO is optimistic about future success in Uzbekistan’s gas assets.

Condor’s forward-looking statements include plans to drill the horizontal portion of the first well by November 2025, aiming for estimated production rates. Assumptions include securing necessary drilling rig services and managing liquidity and capital expenditures. Risks involve regulatory changes, market fluctuations, and geopolitical instability impacting operations.

Abbreviations used in the news release include 3D for three-dimensional, MMscf for millions of standard cubic feet, LWD for Logging While Drilling, and Uzbekistan the Republic of Uzbekistan. The TSX does not accept responsibility for the adequacy or accuracy of the news release. For further information, contact Condor’s President and CEO or Vice President of Finance and CFO.

Read more at GlobeNewswire: Condor Provides an Operational Update on Its First