Condor Provides an Operational Update on Its First Horizontal Well in Uzbekistan

Executive Summary

• Condor Energies completed drilling the vertical section of its first Uzbek‑based well to 2,805 m, intersecting 28.5 m of net gas pay in carbonate reservoirs and 9.1 m in deeper clastic reservoirs.
• The well will be sidetracked to a ~90° horizontal section (planned 1,000 m, potentially longer) with completion and testing slated for November 2025; internal estimates project initial production of 13–20 MMscf/day.
• A second drilling rig is being engaged to drill a vertical well in an under‑developed gas field, followed by a pad‑style horizontal program targeting up to five wells in 2026 to accelerate production.

Key Details

• Vertical Section Completed: Total depth 2,805 m; net gas pay – 28.5 m (carbonate) + 9.1 m (clastic), non‑contiguous.
• Core & Wireline Data: Full‑diameter core retrieved from target reservoir; extensive wireline logs collected for reservoir characterization.
• Horizontal Plan: Sidetrack to ~90° angle; planned 1,000 m horizontal section (potentially longer, would be longest in Uzbekistan). Expected completion & testing: November 2025.
• Estimated Production: Internally estimated initial rate of 13–20 MMscf/day for the horizontal well.
• Second Rig Deployment: Contractor engaged to drill a vertical well in a southern gas field; recent recompletion increased production from 1.1 MMscf/d to 7.5 MMscf/d (first 30 days) and averaged 6.2 MMscf/d over five months.
• Future Development: Pad‑style horizontal program targeting three reservoirs with up to five horizontal wells in 2026, aiming to further boost output.
• CEO Quote: Don Streu highlighted successful pilot data collection, enhanced understanding of carbonate and clastic systems, and the significance of Uzbekistan’s first 1,000 m horizontal well.

Notable Quotes

“Our Team has done a great job in successfully and safely initiating Condor’s multi‑well drilling campaign… We are excited to be drilling Uzbekistan’s first 1000‑meter horizontal well and look forward to the step change this will bring Condor and Uzbekistan.” – Don Streu, President & CEO.