Condor Announces Kumli Field Extension With Successful 5.3 MMscf/d Well Test

Executive Summary

• Condor Energies reported successful drilling and single‑rate testing of the Kumli‑45 vertical well (K‑45) in Uzbekistan, delivering a stabilized flow of 5.3 MMscf/d (883 boe/d) and an open‑flow rate of 7.1 MMscf/d (1,183 boe/d).
• Reservoir quality exceeded expectations with 19.9 m net carbonate, average porosity 16% (streaks >20%), and initial pressure ≈2,896 psi, indicating a large undeveloped area.
• The company confirmed that K‑45 will be placed on production later this month, and outlined plans for four additional horizontal wells from the same pad plus further drilling from a neighboring pad to materially grow reserves and production in 2026.

Key Details

• Well K‑45 (vertical) – Total depth 2,410 m; 18 m core recovered; 19.9 m net carbonate reservoir in four intervals.
• Reservoir Quality – Average porosity 16%; streaks >20%; dolomitized pay zone enhancing permeability.
• Well Test – Single‑rate test at 5.3 MMscf/d (883 boe/d) through a ½″ choke, 7 h duration; sand‑face absolute open flow rate 7.1 MMscf/d (1,183 boe/d).
• Condensate‑Gas Ratio – Preliminary 5.6 bbls/MMscf.
• Initial Reservoir Pressure – Estimated 2,896 psi (near‑virgin pressure).
• Production Timeline – K‑45 to be placed on production later in February 2026 after rig moves to next well slot.
• Planned Drilling Program – Four additional horizontal wells from the same pad (first two targeting primary reservoir, latter two deeper target); matrix acid stimulation under consideration for K‑45.
• Andakli‑21 (A‑21) Horizontal Well – Reached total depth 3,456 m; 1,279 m open‑hole lateral (record longest horizontal in Uzbekistan); 223 m of lateral with up to 12% visible porosity. Acid stimulation planned; production expected later February 2026.
• Andakli‑23 (A‑23) Lateral – To be acid‑stimulated, tested and brought online in March 2026.
• Strategic Outlook – CEO Don Streu highlighted that K‑45 validates 3‑D seismic model, reveals a previously unidentified four‑way closure (Kumli NW), and supports the 2026 drilling campaign aimed at materially increasing reserves and production.

Notable Quotes

“Given the encouraging K‑45 preliminary test results and reservoir properties… we are very keen to execute the 2026 drilling program to materially grow reserves and production.” – Don Streu, President & CEO, Condor Energies Inc.