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Condor Announces 2025 Second Quarter Results and USD $5.0 Million Bridge Loan
CALGARY, Alberta, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Condor Energies Inc. (“Condor” ...
About this update from Condor Energies Inc
[{"type":"text","content":"Condor Announces 2025 Second Quarter Results and USD $5.0 Million Bridge Loan\n\n\n\n CALGARY, Alberta, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Condor Energies Inc. (“Condor” or the “Company”) (TSX:CDR), a Canadian based, internationally focused energy transition company focused on Central Asia is pleased to announce the release of its unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2025 (the “Financial Statements”), together with the related management’s discussion and analysis. These documents will be made available under Condor’s profile on SEDAR+ at\n \n www.sedarplus.ca\n \n and on the Condor website at\n \n www.condorenergies.ca\n \n . Readers are invited to review the latest corporate presentation available on the Condor website. All financial amounts in this news release are presented in Canadian dollars, unless otherwise stated.\n \n\n\n HIGHLIGHTS\n \n\n\n\n Production in Uzbekistan for the second quarter of 2025 averaged 10,258 boe/d comprised of 10,004 boe/d (60,027 Mcf/d) of natural gas and 254 bopd of condensate.\n \n\n Uzbekistan natural gas and condensate sales for the second quarter of 2025 was $19.29 million.\n \n\n Rigging up operations are underway to commence a multi-well drilling program by early September 2025.\n \n\n Detailed engineering for the design and installation of field compression is ongoing, which is intended to mitigate increasing sales gas pipeline pressures that have started impacting production rates.\n \n\n On April 15, 2025, the Company secured its third natural gas allocation in Kazakhstan to be used for LNG production\n \n\n On May 6, 2025, the Company purchased a modular LNG facility (the “First LNG Facility”) capable of producing 48,000 gallons (80 MT) of LNG per day with LNG production planned to commence in the second quarter of 2026.\n \n\n On August 12, 2025, the Company executed a USD $5.0 million-dollar bridge loan facility (the “Bridge Loan”) for the First LNG Facility which is on schedule to produce Kazakhstan’s first LNG in the second quarter of 2026.\n \n\n\n\n\n MESSAGE FROM CONDOR’S CEO\n \n\n\n Don Streu, President and CEO of Condor commented: “We are generating multiple near-term catalysts from our diverse portfolio o...