Condor Announces 2026 Second Quarter Results


Certain statements in this news release constitute forward-looking information under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as “expect”, “plan”, “believe”, “intend”, “estimate”, “may”, “will”, “could”, “would”, “potential”, “ongoing”, “future”, “forecast”, “continue”, ”capable”, “schedule”, “remain” or other similar wording. Forward-looking information in this news release includes, but is not limited to, information concerning: the timing and ability of the Company to execute growth and sustainability strategies including the financing for these activities; the timing and ability to conduct the planned multi-well drilling program in 2026 and 2027; the timing and ability of the identified drilling locations to be drilled and become producing wells; the timing and ability to complete, test and produce the new wells; the timing and ability to restrict gas flows and manage high gas stream volumes; the timing and ability of flowrates to exceed expectations; the timing and ability to manage the downstream maintenance downtime; the timing and ability to target the lower net pay intervals; the timing and ability for the test results to indicate the reservoirs are charged and that targeted stimulation is required; the timing and ability to conduct targeted stimulation activities; the timing and ability to re-stimulate K44 lateral section; the timing and ability to manage the high gas stream velocities by restricting production; the timing and ability to manage prolonged high ambient temperatures which can negatively impact gas compressor performance downstream of the Company’s operations and cause higher downstream pipeline pressures that reduce well productivity; the timing and ability to identify new structures based on reprocessed seismic; the timing and ability to complete the tendering process, award the contract and install field booster compression; the timing and ability of the field compression to increase production and reduce back pressure; the timing and ability to substantially complete the MDWP under the PEC Project; the timing and ability to maintain compliance with contractual provisions that allow for termination of the PEC Project; the timing and ability to receive and utilize the natural gas allocations as feed gas for the planned modular LNG production facilities; the Company’s expectations in respect of the future uses of LNG; the timing and ability to acquire, transport and construct modular LNG production facilities; the timing and ability to obtain funding for the construction of modular LNG production facilities on favourable terms, or at all; the timing and ability to secure third-party financing for the First LNG Facility; the timing and ability to enter into one or more partnerships (or other joint venture structures) at the Company’s sites in Kazakhstan where it has already secured feed gas allocations; the timing and ability to produce and deliver LNG to displace diesel fuel usage in Central Asia; the Company’s expectations regarding reduction in CO2 emissions based on productivity of the LNG facilities; the timing and ability to complete final pressure testing and install and commission control system components; the timing and ability to conduct function and acceptance testing and transport the First LNG Facility to Kazakhstan; the timing and ability to commence LNG production; the estimated costs to complete the First LNG Facility construction and commissioning; the timing and ability to liquefy natural gas to produce LNG; the timing and ability to confirm LNG volume commitments with potential end-users; the timing and ability of the First LNG Facility to produce 48,000 gallons of LNG per day; the timing and ability of the Company to construct two additional modular LNG facilities capable of producing 48,000 gallons of LNG per day at the First LNG Facility site; the timing and ability to finalize LNG off-taker agreements; the planned use of proceeds from the brokered bought deal public offering to continue development of the Company’s natural gas fields in Uzbekistan, including enhancing field compression, and for general corporate purposes; the potential for the Sayakbay and Kolkuduk license to contain commercial deposits; the timing and ability to determine, fund, permit and execute an initial exploration or development plan for the Kolkuduk license; the timing and ability to integrate the aeromagnetic survey results with historical gravity data and regional geological information; the timing and ability of the Sayakbay sediment to be suitable for hosted copper mineralization; the timing and ability of the Sayakbay Dome to be a structurally comparable setting to known sandstone copper deposits and mining operations; the timing and ability of the historical drilling activity at Sayakbay to confirm the presence of permeable sandstone units, interbedded seals, and redox features consistent with sediment hosted copper models; the timing and ability of Sayakbay to lie within a copper tract and have undiscovered resource potential; the timing and ability to better define the resource potential; the timing and ability of the Company to fund, permit and complete planned activities at Sayakbay including conducting coring programs and targeted geophysical surveys, drilling two wells and conducting preliminary engineering for the production facilities; the timing and estimated costs of the initial development plan for Sayakbay; the timing and ability of the Company to generate a report in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects; the timing and ability to commence exploration mining activities to evaluate the potential for commercial lithium brine deposits; the timing and ability to obtain the required Government Approvals and complete the sale of the Turkish Properties; the potential consequences of failing to obtain Government Approval to complete the sale of the Turkish Properties, including the right of either party to terminate the SPA; the timing and ability to receive funding from the potential buyer for the work commitments and operating costs of the Turkish Properties; the timing and ability of the Buyer to complete the Minimum Work Commitment; the accuracy of the projections and timing with respect to natural gas and condensate production; expected markets, prices and costs for future natural gas and condensate sales; the timing and ability of the Company to obtain various approvals and conduct its planned exploration and development activities; the timing and ability to access natural gas pipelines; the timing and ability to access domestic and export sales markets; the accuracy of the anticipated capital expenditures; forecasted capital and operating budgets and cashflows; anticipated working capital; sources and availability of financing for potential budgeting shortfalls; the timing and ability to obtain future funding on favourable terms, if at all; the potential for additional contractual work commitments to be significant; the ability to satisfy and fund the contractual work commitments; projections relating to the adequacy of the Company’s provision for taxes; the expected reporting impacts of adopting amendments to IFRS accounting policies; and treatment under governmental regulatory regimes and tax laws.



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