Condor Petroleum Inc. and Marsa Energy Inc. announced that the Joint Management Information Circular (Joint Circular) and respective Form of Proxy and Letter of Transmittal have been mailed to shareholders of Condor and shareholders of Marsa. to be held in Calgary, Alberta at 10:30 a.m. (Calgary time) on February 24, 2016. The Arrangement is expected to be completed on or about February 26, 2016 upon the satisfaction or waiver of the conditions to the Arrangement Agreement entered into by Condor and Marsa on January 7, 2016.

Upon completion of the Arrangement it is expected that J. Scott Price, current Chairman of Marsa, will be appointed to the Condor board of directors (Condor Board) and Blair Anderson, the current President and Chief Executive Officer of Marsa, will join the Condor management team as Vice President of Corporate Development.