Condor Energies Inc. provides update on Uzbekistan drilling project, A-21 well reaches TD at 3456 meters with over 960 meters of carbonate reservoir, gas shows up to 31%, acid stimulation planned for increased productivity. Second drilling rig in operation for Kumli-45 well. Turkish properties sold to third-party buyer for cash and gross overriding royalty. Buyer to conduct minimum work commitment and cover operating expenditures until completion. Buyer has option to request additional activities during interim period. Termination clause if government approvals not received within one year.

President and CEO, Don Streu, optimistic about near-term production growth from drilling programs. Company focuses on energy security initiatives in Central Asia, including increasing natural gas production in Uzbekistan, constructing LNG facility in Kazakhstan, and producing critical minerals from brines in Kazakhstan. Company recognizes 100% of production volumes related to PEC Project in Uzbekistan. Forward-looking statements include plans for acid stimulations, well testing, drilling new wells, and completing sale of Turkish properties.

Abbreviations used: TD (Total Depth), % (Percent), US$ (United States Dollars), Türkiye (Republic of Türkiye), Uzbekistan (Republic of Uzbekistan), TSX (Toronto Stock Exchange). Contact President and CEO, Don Streu, or Vice President of Finance and CFO, Sandy Quilty, for further information at 403-201-9694.

Read more at GlobeNewswire: Condor Provides a Drilling Update for Uzbekistan and