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Condor Energy Limited (ASX:CND)

ALERT: Price-sensitive ASX Announcement for CND
Current share price for CND : $0.014 -0.007 (-33.33%)+
Announcement
Release
6 Nov 2025 8:20AM
Price at Release
$0.021
Full Release
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Summary
Condor Energy Limited announced a non-binding Memorandum of Understanding with Promigas Perú to assess natural gas supply options from the Piedra Redonda gas field in Peru. This collaboration aims to explore midstream and downstream opportunities by combining Condor's upstream resources with Promigas Perú's distribution expertise. The agreement establishes a pathway towards potential gas sales, supporting Peru's gas massification strategy and energy transition efforts. The Piedra Redonda field is noted for its 1 Tcf contingent gas resource, positioning Condor for potential future monetization and industrial growth in northern Peru.
Key Points
  • Condor Energy Limited (ASX: CND) signed a Memorandum of Understanding (MoU) with Promigas Perú S.A. to explore gas supply options from the Piedra Redonda gas field.
  • The collaboration aims to define potential gas supply profiles and assess downstream opportunities in Peru.
  • This initiative aligns Condor's upstream resources with Promigas Perú's distribution capabilities to support gas massification in Peru.
  • The MoU does not create binding obligations but establishes a framework for future commercial agreements.
  • The Piedra Redonda gas field boasts a contingent resource estimate of 1 trillion cubic feet (Tcf) of natural gas.
  • Promigas Perú is a key player in Peru's gas massification program, enhancing access to cleaner energy.
  • The collaboration supports Peru's energy transition goals and potential job creation in northern Peru.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.