Condor's First Horizontal Well in Uzbekistan Reaches TD While Two New Zone Workovers in an Adjacent Field Increase Daily Production to Approximately 12,000 boepd

Executive Summary

• Condor Energies announced the first horizontal well (Andakli‑23, “A‑23”) in Uzbekistan’s Andakli field reached total depth with a 1,007 m open‑hole lateral and is slated for flow testing and production start in December 2025.
• Recent workovers on two North Syuzma wells in the same Jurassic clastics interval boosted average daily gas & condensate production to 11,844 boepd over the past three days (up from a Q3‑2025 average of 9,978 boepd).
• The company plans to drill up to 12 new wells in 2026, including another horizontal well from the same pad targeting a different carbonate reservoir.

Key Details

• Andakli‑23 (A‑23) Horizontal Well
• Total depth: 3,775 m; open‑hole horizontal section: 1,007 m.
• Completion string run; initial flow back of gas and drilling fluids observed at surface.
• Service rig to conduct flow test; expected production start December 2025.

• Next well from same pad will target a different carbonate zone with up to 1,500 m lateral section.

• North Syuzma‑01 Workover

• Perforated 3.1 m of discontinuous net sandstone (average porosity 18%).
• Multi‑rate well test (chokes 12.0–18.2 mm) – gas rates 7.6–11.4 MMscf/d, tubing pressures 934–1,643 psi.

• Condensate flow 58–66 bopd; water rates 4–58 bbls/d.

• North Syuzma‑12 Workover

• Perforated 2.1 m net gas pay across two intervals (average porosity 17%).
• Multi‑rate test (chokes 8.0–12.0 mm) – gas rates 4.0–6.6 MMscf/d, tubing pressures 1,351–1,735 psi.

• Condensate flow 12–20 bopd; water rates 291–609 bbls/d (interpreted as load‑fluid recovery).

• Production Impact

• Average daily production increased to 11,844 boepd over the last three days, up from a Q3‑2025 average of 9,978 boepd.

• Future Drilling Plans

• Targeting up to 12 new wells in 2026, focusing on horizontal drilling of thin, high‑porosity Jurassic clastic zones analogous to Western Canadian plays (Cardium, Viking).

Notable Quotes

“We are extremely proud of our Operations and Asset Development teams to have successfully and safely delivered the longest ever drilled horizontal well in Uzbekistan… We are excited for the upcoming A‑23 test program and remain focused on drilling up to 12 new wells in 2026.” – Don Streu, President & CEO

“These thin, high porosity zones can be semi‑regional in extent and are best developed using horizontal wells. This highlights the significant opportunities available to us for increasing gas and condensate production…” – Don Streu, President & CEO