Condor Appraisal Encounters Hydrocarbon Pay

Condor announced that its Shoba-3 appraisal well has reached a total depth of 943 meters and encountered a 48 meter continuous hydrocarbon column in the Triassic zone. Shoba-3 net pay is comprised of 18.4 meters of oil and 16 meters of gas in sandstone reservoirs. 46.5 meters of core was also recovered to assist with additional reservoir characterization. The Shoba-3 well is located on the 2,610 sq. km Zharkamys West 1 contract territory (the "Zharkamys Territory"), situated in Kazakhstan's Pre-Caspian basin.

The Shoba-3 well further appraised the Shoba structure, offsetting the successful Shoba-1 and Shoba-2 wells. Based on pressure and well log data, all three wells have a common gas-oil and oil-water contacts. Shoba-3 is expected to be completed once regulatory approvals are obtained.

The drilling rig used for the Shoba-3 well is now mobilizing to Kiyaktysay North-3, a separate structure approximately 17 km south east of the Shoba field.