Condor will be responsible for all costs of the Project, and in exchange for performing its services, it will receive a percentage of net revenues realized from the Project. All production from the Project will be supplied to the domestic market through sales arrangements with the authorized state entities.
Gas production increases are planned by implementing artificial lift, workover and infill drilling programs and investigating deeper horizons that are productive in other regions of the country. 3-D seismic reprocessing is also planned for this year to support these efforts. Additional reservoir and production data is being collected in the near term and a National Instrument 51-101 compliant reserves report will be completed thereafter.
Readers are invited to review the Company’s latest corporate presentation available on the Condor website at “condorenergies.ca”.
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute forward-looking statements under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as “anticipate'', “appear”, “believe'', “intend”, “expect”, “plan”, “estimate”, “budget'', “outlook'', “scheduled”, “may”, “will”, “should”, “could”, “would”, “in the process of” or other similar wording. Forward-looking information in this news release includes, but is not limited to, information concerning: the timing and ability to increase natural gas and condensate production and reserves; the timing and ability to access natural gas pipeline and condensate sales markets; the timing and ability to receive a percentage of net revenues less costs and the amounts; the timing and ability to increase production by implementing artificial lift, workover and infill drilling programs; the timing and ability to investigate deeper horizons; the timing and ability to collect additional reservoir and production data: the timing and ability to conduct seismic reprocessing and 3-D acquisition programs; the timing and ability to complete a National Instrument 51-101 compliant reserves report; the timing and ability to fund, permit and complete the planned activities; the timing and ability to construct and operate Central Asia’s first LNG facility; the timing and ability to develop and produce lithium brine; the timing and ability to increase reserves, production and cashflow; and the timing and ability to minimize the Company’s environmental footprint.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
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Abbreviations
3-D | three-dimensional |
TSX |
Source:
2024 GlobeNewswire, Inc., source