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Condor Energy Limited (ASX:CND)

ALERT: Price-sensitive ASX Announcement for CND
Current share price for CND : $0.018 -0.002 (-10%)+
Announcement
Release
23 Jan 2026 8:21AM
Price at Release
$0.020
Full Release
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Summary
Condor Energy Limited, during the quarter ending December 2025, advanced its exploration and commercial activities in offshore Peru. A key achievement was signing an MoU with Promigas Perú to evaluate gas supply from the Piedra Redonda gas field. Raya West, a new high-impact exploration prospect, was identified, enhancing the oil exploration portfolio's potential. The company's financial report for the quarter shows a net cash outflow from operating activities and a decrease in cash reserves.
Key Points
  • Condor Energy Limited signed a Memorandum of Understanding with Promigas Perú S.A. to assess gas supply from the Piedra Redonda gas field.
  • A new exploration prospect, Raya West, was identified, exhibiting strong potential for hydrocarbon-bearing zones.
  • The Raya West prospect is part of a cluster including the Raya Prospect, which together form a high-quality target area for future drilling.
  • Condor continued its evaluation of the 4,858km2 Technical Evaluation Agreement offshore Peru, focusing on the Piedra Redonda gas field.
  • The quarterly cash flow report shows net cash used in operating activities was AUD 242,000, with a decrease in cash and cash equivalents by the end of the period to AUD 1,928,000.
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.