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Condor Energies Inc T.CDR

Alternate Symbol(s):  CNPRF

Condor Energies Inc. is a Canada-based internationally focused energy transition company, which is focused on diverse initiatives in Central Asia. The Company has a producing gas asset, an ongoing project to construct and operate Central Asia’s first LNG facility and a separate project to develop and produce lithium brine. It has built a robust foundation for reserves, production and cashflow growth while also striving to minimize its environmental footprint. It has a 100% interest in and operates an exploration license in Kazakhstan for mining solid minerals, including lithium (the Lithium Mining License). It has a 100% interest in and operates the Poyraz Ridge and Destan operating licenses and gas fields in Turkiye. The Company, through its wholly owned subsidiary Marsa Turkey BV (MTBV), has a 100% working interest in two adjoining production licenses located on the Gallipoli (Gelibolu) peninsula in NW Turkey, lying within the SW extension of the prolific gas-producing Thrace Basin.


TSX:CDR - Post by User

Bullboard Posts
Post by vienaon May 29, 2011 2:25pm
408 Views
Post# 18641444

First well

First well
Condor Completes and Obtains Initial Flowrates from Shoba-1 Discovery Well
Condor Petroleum Inc CPI
5/17/2011 9:44:31 AM
CALGARY, ALBERTA, May 17, 2011 (MARKETWIRE via COMTEX News Network) --

Condor Petroleum Inc. ("Condor" or the "Corporation") (TSX: CPI) is pleased to announce that it has successfully completed and performed an initial flow test of the Shoba-1 discovery well in Kazakhstan.

The Shoba-1 well initially flowed 250 to 280 barrels per day of 35 degrees API gravity oil from 6.5 meters of perforations at 747.5 m to 754.0 m in the oil pay zone. The well stabilized at a flow rate of 210 bbls of oil per day with 20 psi surface pressure during a 3 day test period. The fluid and flow data information acquired during the initial flow period will be used to aid in the design of a long term production test expected to be performed in the third quarter of 2011. The Corporation anticipates that the well will be put on production with a downhole pump which could further enhance these initial production rates.

Don Streu, Condor's President and CEO commented: "Condor is extremely pleased with initial flow rates from the Shoba-1 well. The information confirms that the deliverability of the Shoba-1 exceeds economic thresholds and moves the project closer to full commercialization".

The service rig that tested Shoba 1 is now being mobilized to complete and obtain initial flowrates from Shoba-2. In addition, the drilling of Shoba-3 has just reached its total depth of 943 meters and a wireline evaluation program is commencing. 46.5 meters of core was recovered through the zone of interest on Shoba-3.

Bullboard Posts