Condor Announces 2025 Year-End Results

Core Viewpoint - Condor Energies Inc. has reported significant growth in production and financial performance for the year ended December 31, 2025, driven by its operations in Uzbekistan and advancements in its LNG projects in Kazakhstan [3][4][33]. Group 1: Production and Financial Performance - Production in Uzbekistan for Q4 2025 averaged 10,534 boe/d, a 5.6% increase from Q3 2025, with natural gas and condensate sales reaching $20.38 million, an 8.8% increase from the previous quarter [4][9]. - For the full year 2025, average production was 10,484 boe/d, with total sales of natural gas and condensate amounting to $80.66 million [4][33]. - The company reported a net income of $1.232 million for 2025, compared to a net loss of $4.072 million in 2024 [33]. Group 2: Operational Developments - A multi-well drilling program commenced in September 2025, with three wells drilled to date, including two horizontal and one vertical well, achieving a combined testing rate of 2,096 boe/d [4][10]. - March 2026 production has averaged 12,622 boe/d, primarily due to the completion of newly drilled wells [4][9]. - The company is advancing a field booster compression program in Uzbekistan, expected to enhance gas production rates [4][15]. Group 3: LNG Initiatives - The company completed the fabrication of its First LNG Facility in March 2026, with shipment to Kazakhstan expected in Q2 2026 [4][16]. - The First LNG Facility is designed to produce 48,000 gallons (80 MT) of LNG per day, with plans for expansion to two additional facilities [4][17]. - The company has secured three natural gas allocations in Kazakhstan, with the potential to produce an energy-equivalent volume of 1.5 million liters of diesel daily, reducing CO2 emissions by 390,000 MT per year [4][20]. Group 4: Critical Minerals Opportunities - Condor holds two critical minerals licenses in Kazakhstan, focusing on lithium and copper, with significant exploration activities ongoing in the region [4][24]. - Historical tests in the Kolkuduk and Sayakbay licenses indicated lithium concentrations of up to 130 mg/L, with further drilling planned to confirm these findings [4][25][27]. Group 5: Strategic Divestitures - The company entered into a share purchase agreement to sell its Turkish properties for a ten-year gross overriding royalty and a nominal cash payment, aligning with its strategy to focus on higher-return growth initiatives [4][29][5].