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Condor Energy Limited (ASX:CND)

ALERT: Price-sensitive ASX Announcement for CND
Current share price for CND : $0.014 -0.001 (-6.67%)+
Announcement
Release
18 May 2026 8:22AM
Price at Release
$0.015
Full Release
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Summary
Condor Energy Limited has submitted its Licence Contract application to Perupetro S.A., marking a significant milestone in its exploration and development activities in the offshore Tumbes Basin, Peru. The submission follows the completion of the Technical Evaluation Agreement (TEA) work programme, which involved comprehensive geological and seismic evaluations. This transition to a Licence Contract, subject to regulatory approval, will enable Condor to advance its exploration, drilling, and commercialisation plans, including the development of the Piedra Redonda gas field. The consolidation to a 100% interest in TEA LXXXVI increases Condor's net attributable exposure to the exploration portfolio and contingent gas resources.
Key Points
  • Condor submits Licence Contract application to Perupetro S.A.
  • Transition from TEA to Licence Contract marks a key milestone.
  • 100% ownership of TEA LXXXVI increases Condor's resource exposure.
  • Completion of advanced seismic and geological evaluations.
  • Progression supports future exploration drilling and development.
  • Piedra Redonda gas field holds significant commercialisation potential.
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.