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Condor Energy Limited (ASX:CND)

ALERT: Price-sensitive ASX Announcement for CND
Current share price for CND : $0.016 -0.005 (-23.81%)+
Announcement
Release
4 May 2026 9:23AM
Price at Release
$0.021
Full Release
download
Summary
Condor Energy Limited has successfully raised A$2.25 million through a placement of shares to fund the advancement of its offshore Peru portfolio. This includes the conversion of the TEA-86 licence to an Exploration/Exploitation Licence Contract and progressing the Piedra Redonda Gas Field and high-impact oil exploration targets. The placement, supported by institutional and professional investors, will enable the company to shift from technical evaluation to execution, focusing on significant oil and gas opportunities in the Tumbes Basin. A live investor webinar will be hosted by Managing Director Serge Hayon to discuss upcoming endeavors.
Key Points
  • Condor Energy Limited has raised A$2.25 million through a placement of new fully paid ordinary shares.
  • The funds will be used to advance the TEA-86 licence conversion to an Exploration/Exploitation Licence Contract.
  • Focus will be on advancing oil exploration targets with a potential of over 3 billion barrels.
  • The Piedra Redonda Gas Field, with 1 Trillion Cubic Feet of natural gas, is progressing towards commercialisation and development.
  • Condor is transitioning from technical evaluation to execution in its offshore Peru portfolio.
  • The placement received strong support from institutional, professional, and sophisticated investors.
  • Managing Director Serge Hayon will host an investor webinar to discuss upcoming programs.
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.