Condor Provides an Operations Update

Core Viewpoint - Condor Energies Inc. is actively advancing its operations in Uzbekistan and Kazakhstan, focusing on increasing production and developing new facilities to enhance energy transition efforts in Central Asia [1][6]. Group 1: Uzbekistan Operations - Average production in June 2025 has reached 11,350 barrels of oil equivalent per day (boepd), slightly above the first quarter average of 11,179 boepd [2]. - Second quarter production to date is 10,332 boepd, impacted by unplanned maintenance and workovers aimed at improving geological modeling for future drilling [2]. - A multi-well drilling campaign is set to begin in July 2025, targeting various play types, including vertical and horizontal wells, with the first well aimed at evaluating deeper Jurassic Clastics [3]. Group 2: Infrastructure Enhancements - The company has installed four in-field flowline water separation systems to enhance fluid management, with a fifth unit expected to be operational by early July 2025 [4]. - Ongoing engineering work for field compression is anticipated to further boost production rates [4]. Group 3: Kazakhstan Developments - Condor has acquired its first modular LNG facility, capable of producing 48,000 gallons (80 metric tonnes) of LNG per day, with completion expected in Q4 2025 and production starting in Q2 2026 [5]. - An LNG off-taker agreement is expected to be finalized soon, supporting the company's LNG production initiatives [5]. Group 4: Strategic Positioning - Condor Energies is positioned to capitalize on energy security initiatives in Central Asia, focusing on natural gas and condensate production, LNG facility development, and critical minerals extraction from brines [6].