Condor Energies drills K-46 well to 3,150 m total depth

Mr. Don Streu reports CONDOR TDS ITS THIRD HORIZONTAL WELL AND APPOINTS CHIEF OPERATING OFFICER Condor Energies Inc. has provided an update on drilling activities on its Uzbekistan project. KUMLI-46 HORIZONTAL WELL REACHES TOTAL DEPTH The Kumli-46 horizontal well (K-46) was drilled to a total depth of 3,150 metres, which included an 817-metre open-hole lateral section. The well is the third horizontal well and fourth well in Condor's continuing multiwell drilling campaign in Uzbekistan. K-46 is offsetting the previously drilled K-45 vertical well, which encountered two primary gas intervals containing high-quality reservoirs with average porosities of 16 per cent and streaks exceeding 20 per cent as determined by open-hole wireline logs. K-46 is a horizontal follow-up development well in the same dolomitized upper reservoir interval identified in K-45. During K-46 drilling operations, strong gas shows of over 25 per cent were recorded in 141 metres of lateral section and even stronger shows of 50 per cent or greater were recorded in more than 65 metres of lateral section. These encouraging drilling observations are consistent with the positive K-45 vertical well results: The K-45 well was recently tested and flowed at 5.3 million standard cubic feet per day through a one-half-inch choke for seven hours with a flowing tubing pressure of 1,053 pounds per square inch. K-46 is currently being completed and will include an acid wash of the lateral section to enhance near-wellbore deliverability and a flow and buildup test. Testing activities are expected to be completed by mid-April, 2026, and pipeline tie-in activities are under way to ensure a rapid transition to gas sales. The drilling rig is now moving to K-47 on the same drilling pad and will be drilled in an opposing direction to K-46, targeting the same upper reservoir interval. Two additional upper reservoir horizontal development locations are planned from the second drilling pad located to the northeast of the existing pad and up to four additional horizontal wells are planned that target a lower reservoir also identified by K-45. Condor appoints Matt Pachell as chief operating officer Condor's board of directors is pleased to announce the appointment of Mr. Pachell as chief operating officer from his previous position as the company's senior vice-president of asset development and exploration. Mr. Pachell brings extensive experience leading complex, multicultural upstream teams and his successful record of production optimization, field exploration and development, and integrated project delivery fully aligns with Condor's initiatives in Uzbekistan and Kazakhstan. Corporately, Mr. Pachell will oversee operations, project execution and all technical functions to deliver Condor's Central Asian growth strategies. About Condor Energies Inc. Condor Energies is a Toronto Stock Exchange-listed energy transition company that is uniquely positioned on the doorstep of European and Asian markets with three distinct first-mover energy security initiatives: increasing natural gas and condensate production from its existing fields in Uzbekistan; a continuing project to construct and operate Central Asia's first LNG (liquefied natural gas) lower-carbon-fuel diesel substitution facility in Kazakhstan; and a separate initiative to develop and produce critical minerals from brines in Kazakhstan. Condor has already built a strong foundation for reserves, production and cash flow growth while also striving to minimize its environmental footprint. The company recognizes 100 per cent of the production volumes, sales volumes, sales revenues, royalties and expenses related to the production enhancement contract project in Uzbekistan (PEC project) and then allocates 49 per cent of the comprehensive income (loss) attributable to the non-controlling interest holder. This is consistent with the accounting and disclosure in the company's financial statements. Accordingly, the production volumes disclosed in this news release related to the PEC project are 100 per cent of the amounts attributable to the PEC project, of which 51 per cent are attributable to the company. We seek Safe Harbor.