Condor Announces 2026 Second Quarter Results

CALGARY, Alberta, Aug. 13, 2026 (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, 2026 (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 www.sedarplus.ca and on the Condor website at www.condorenergies.ca . 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.

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The Company operates under a production enhancement services contract with JSC Uzbekneftegaz (“UNG”) in Uzbekistan to increase the production, recovery, and overall system efficiency from an integrated cluster of eight conventional natural gas-condensate fields (the “PEC Project”). The cumulative license area is 282 km2 or the equivalent of 109 sections, with 75 active gas wells that produce mainly from Jurassic carbonate reservoirs.

Production in the second quarter of 2026 averaged 13,851 boe/d comprised of 13,458 boe/d (80,748 Mcf/d) of natural gas and 393 bopd of condensate or a total production increase of 17% from the first quarter of 2026 primarily due to the newly drilled wells. This increase is despite over fifteen days of restricted production during the second quarter of 2026 due to downstream infrastructure maintenance and plant upsets at non-Company operated facilities. During the 7-day period of August 6, 2026 to August 12, 2026, the Company achieved a new production record of 17,925 boe/d over a 24 hour period due primarily to the completion and tie in of the newly drilled wells and production averaged 17,709 boe/d comprised of 17,250 boe/d (103,500 Mcf/d) of natural gas and 459 bopd of condensate for a total production increase of 28% versus the second quarter of 2026. Unusually prolonged high ambient temperatures have negatively impacted gas compressor performance downstream of the Company’s operations and temporarily caused up to 20% higher downstream pipeline pressures that has reduced the Company’s well productivity.