CONDOR Petroleum

http://www.energy-pedia.com/news/kazakhstan/new-154359  

Given the amount of oil discovered in the region where West Zharkamys-I is located, the story is not about finding oil, it is about extracting the maximum amount of oil present in the block! This resource play has a much lower risk profile than a pure exploration play.  

SUMMARY: Condor Petroleum found the key to unlock the post-salt prospects at Zharkamys. The Kiyaktysai KN-E-201 well is a larger discovery and the company has six additional look-alike prospects. Additional results could have a significant impact on the share price. The company has a strong Management and Board of Directors. The company has no debt. At December 31, 2012, the company had cash and cash equivalents of CAD 19.8 Mio. There are 346.1 Mio. shares outstanding. Eurasia and its parent company, RV Resource Value Holding PLC, held 51.1% of the outstanding shares of Condor.  

von KN-201 eine "Plateau Production von 5 - 7.000 barrel/day.
Davon hat Condor 7 Strukturen ausgemacht!  

ist der Winterschlaf bei zwei anderen Aktien auch bald vorbei ;-)  

in Zharkamys kostet 1-2 Mio Dollar. Da kann man jetzt genügend bohren.

Es bleibt trotzdem schade , daß wir Marsel nicht halten konnten.
Als es damals gekauft wurde sprachen die Russen von 9-15 TCF.
Das sind Milliarden an Wert. da kommen einem die 88 Mios schon wenig vor.  

sind das ja auch 125 Mios , da der Partner ja auch noch Geld bekommt.  

schon 5mio shares gehandelt, da werden aber schöne Pakete verschoben...;-)  

wieder Haus- und Hofbroker mit 2 Cross.
Wenn meine Berechnungen stimmen fangen jetzt langsam die 90 Tage Trial Test an.
Nach ca. einer Woche werden die Fachleute mehr wissen.  

Zeitrahmen eingehalten wird , dürfte die Verrohrung fertig sein und der Flow Test n#chste Woche beginnen. Nach 10 tagen weiß man ein wenig .Nach 30 Tagen viel.
Nach 60 Tagen kann man das Well dann regulieren.
Ich denke, man wird so etwa 30% Decline Rate einstellen....  

Condor Provides an Operations Update
http://at.marketwire.com/accesstracking/...gos/20110224-condor200.jpg
CALGARY, ALBERTA -- (Marketwired) -- 05/06/13 -- Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to provide an update on its operations.

Zharkamys Activities:

Regulatory approval has been received for the completion and testing program of the KN-E-201 oil discovery and the ninety day testing program will begin in June 2013, as previously scheduled. The service rig and surface production equipment are currently being mobilized.

KN-E-202, the first appraisal well of the Kiyaktysai discovery, was recently spud and is approaching the planned intermediate casing depth to be set just above the primary target zones. Once the target zones are penetrated, a coring program will be conducted prior to reaching a total depth of approximately 2,000 meters. The well should reach total depth by early June 2013.

The Ministry of Oil and Gas of the Republic of Kazakhstan has agreed to extend the Zharkamys exploration period for an additional two years until August 27, 2015. The extension allows the Company to continue its phased exploration strategy and to target some of the deeper prospects in the drilling portfolio.

Postponement of Annual Meeting:

As a result of a clerical error outside of the control of the Company, the 2013 Annual Meeting materials were not mailed to some of the beneficial shareholders within the required time period. Therefore, in order to ensure that all shareholders have ample time to review the Annual Meeting Materials and vote their proxies, the Company has postponed the Annual Meeting to May 24, 2013.

The meeting will be held at 3:00 p.m. on May 24, 2013 at the Broadway Room, Sun Life Plaza Conference Centre (+15 level), 140 - 4th Ave SW, Calgary, AB T2P 3N3. The record date for the determination of shareholders entitled to receive notice of and to vote at the Annual Meeting remains the close of business on April 7, 2013 as further outlined in Condor's Information Circular dated April 7, 2013.

About Condor Petroleum Inc.

Condor is a Canadian oil and gas company with assets in Kazakhstan and Canada. Condor holds a 100% interest in the exploration rights to the 2,610 square km Zharkamys Territory, located in Kazakhstan's Pre-Caspian basin and a 66% interest in Marsel Petroleum LLP which has the exploration rights to the 18,500 square km Marsel Territory, located in Kazakhstan's Chu-Sarysu basin. The Company operates certain oil and natural gas properties and holds non-operated working interests in a number of other properties in Canada. The Company is listed on the TSX under the symbol "CPI".  

2013-05-10 17:54 ET - News Release


Mr. Don Streu reports

CONDOR ANNOUNCES 2013 FIRST QUARTER RESULTS

Condor Petroleum Inc. has released its unaudited consolidated financial statements for the period ended March 31, 2013, together with the related management's discussion and analysis. These documents will be made available under Condor's profile on SEDAR and on the Condor website. All financial amounts in this news release are presented in Canadian dollars.

First quarter 2013 highlights include:

Marsel territory:


On April 22, 2013, Condor's wholly owned subsidiary entered into a binding agreement to sell its 66-per-cent participating interest in, and certain indebtedness of, Marsel for $88.0-million (U.S.), subject to various waivers and consents from the government of Kazakhstan and subject to the satisfaction of certain commercial conditions typical for transactions of this nature.

Zharkamys West 1 territory:


Kazakhstan production increased to 559 barrels of oil per day in the first quarter of 2013 compared with 22 bopd in the first quarter of 2012 due mainly to Shoba trial production. As a result, company revenues increased 192 per cent to $2.3-million.
The KN-E-201 well was drilled and completed during the quarter and discovered oil; 58 metres of net hydrocarbon pay were identified from wireline and mud logs with an additional 16 metres of pay indicated from mud logs without wireline log data.
The first appraisal well, KN-E-202, was spudded in April, 2013, and the target zone is expected to be penetrated in May, 2013.
The 90-day production-testing program for the KN-E-201 discovery well has been approved, and testing is expected to commence as planned in June, 2013.
Approval for a two-year exploration period has been granted, which extends the exploration term until Aug. 27, 2015.
Detailed seismic interpretation and geologic mapping have generated an exploration portfolio of 66 prospects ranging from shallow Cretaceous to deep Devonian targets and an internal company estimate of 1.55 billion barrels of oil equivalent unrisked mean recoverable resources.

We seek Safe Harbor

1,55 Billion Barrels recoverable!!!!!!!!!!  

sieht jetzt wieder sehr ordentlich aus.  

Don Streu 20 Minuten im Livestream mit der neuesten Präsentation.
Nicht übel Herr Specht.
Ab nächstes Jahr wird man ca. 60 Dollar/barrel netpay haben...
Lass die mal 3000 Barrel fördern.  

war er auch.Deshalb gings hoch.
http://www.bnn.ca/Shows/Commodities.aspx  

mit jeder Bohrung etwa 7 Millionen Tonnen recoverable nachzuweisen!
Im nächsten jahr gibt es eine 7000 m Bohrung - das ist Königsdisziplin!  

wollte mich mal bedanken, daß du hier ständig die News postest. Hoffe wir sind hier nicht die einzigen verbliebenen Investierten bei Condor.

Hab mir vor längerer Zeit mal 'ne kleine Posi zugelegt und hoffe, daß es mit den Neuigkeiten jetzt mal wieder aus den Miesen rausgeht.

Aber alles was du in den letzten Tagen/Wochen gepostet hast, lässt mich hoffen. Wo bekommst du eigentlich die Infos alle her. Hab mich zwar bei Condor in die Mailingliste eingetragen, aber irgendwie bist du immer schneller an den News.

 

einen Onkel in Kazakhstan. Der lebt auf einem Bohrfeld :-)  

ihr seid nicht alleine...;-)  

wenigstens noch ein dritter Mann zum Skat. Falls es hier doch  nix gibt :)

 

Im Interview. Man will sich vergrößern .Geländekauf bedeutet nix schlechtes.Und Condor hält schon Gebiete ,die so groß wie Belgien sind.  

News.Bestätigung der Payzones. Jetzt gehts los!  

mit dem Gebietszukauf sicher positiv!
Announces Successful Appraisal Well at Kiyaktysai



Condor Announces Successful Appraisal Well at Kiyaktysai




CALGARY, ALBERTA--(Marketwired - June 3, 2013) - Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to announce it has finished the drilling and logging program for the KN-E-202 appraisal well on the Kiyaktysai structure, which follows the recent KN-E-201 discovery well on the Zharkamys West 1 Territory in Kazakhstan.

KN-E-202 was drilled to a total depth of 1,955 meters and encountered similar reservoir and pay intervals to KN-E-201. Based on wireline logs, two pay zones of 23 meters and 57 meters were penetrated below the salt across a 130 meter gross interval. In addition, 93 meters of net residual hydrocarbon pay over a 626 meter gross interval have been interpreted from wireline log analysis. Production casing will be set at 1,955 meters.

The resource potential of Kiyaktysai will continue to be assessed through additional drilling and near term production testing. The next Kiyaktysai appraisal well is expected to be drilled in the third quarter of 2013.

The completion program for the KN-E-201 discovery is currently underway and ninety day production testing will commence in June as previously announced.  

weiß ja jetzt wie groß die Fläche mit Öl ist.
Da werden jetzt noch 3 -4 Development wells eingepflügt
und dann ist die Firma kerngesund. Bin gespannt wieviel
barrel/day da rauskommen!  

Ausschnitte aus 37 Seiten Analyse

With 90-day testing of the Kiyaktysai discovery well about to commence, a successful appraisal well recently completed and a further appraisal well planned for 3Q13, the initial production and resource potential of Kiyaktysai (pre-drill estimate: 10-15 mmbbls) will soon be established.
Furthermore, the company has identified some 66 prospects and leads, post-salt and pre-salt – in aggregate, a gross unrisked mean recoverable resource of 1.5 bnboe.
With the exploration phase of the Zharkamys West contract now extended until August 2015, Condor Petroleum will continue with its phased exploration strategy, targeting deeper, larger post-salt and pre-salt prospects within its portfolio – although risk exposure to the latter is likely to be prudently reduced via farm-outs.

High Case' Risked NAV - C$3.08/share
Our 'high case' risked NAV differs from the 'base case' risked NAV thus:
2P Reserves/Assets Under Development Kiyaktysai - we assume the 'high-end' pre-drill estimate of 15 mmbbls;
Exploration Upside - Includes Broader Phase 2 & Phase 3 Prospectivity
We include all six Phase 2 Primary Basin prospects, estimated to hold ca. 200 mmbbls on an aggregate unrisked basis - all risked at 1 in 5.
We assume that, as with Phase 2 prospects, that Phase 3 prospects are 2/3 oil, 1/3 associated gas. Attaching no value to the gas, we now include all 14 identified Phase 3 prospects - 690 mmbbls on an unrisked basis - risked at 1 in 10.
We have also assumed that, consistent with management's stated strategy, that Phase 3 prospects are farmed out to lower the company's financial and technical exposure to risk - we assume that Condor Petroleum retains a 50% interest in these deep, pre-salt prospects.
All in all, the risked exploration upside in our 'high case' risked NAV amounts to 74 mmbbls.
Net of cash, which includes the prospective sale proceeds for the Marsel block, we derive a 'high case' risked NAV of C$3.08/share.

Tax Pools Add Over $3.60/bbl Or 35% To Our Reserve/Resource Valuations
Zharkamys West holds a corporate tax pool and loss carry-forward of $90.7 million at year-end 2012, and, as of March 31st 2013, a capex pool of $97.5 million.
We have applied these tax and capex pools to minimise both corporate tax and excess profits tax (EPT) - the result being to significantly increase the 'in the ground' value of its 2P reserves and development assets, by over 35% or $3.60/bbl, from $10.26/bbl to $13.87/bbl.

We do not forecast a funding requirement for 2014, based on: Receipt of Marsel funds by year-end 2013; Mid-2014 commerciality for Shoba/Taskuduk; Ongoing test/trail production at Kiyaktysai; and Management's early indications of a $30 - 40 million capital program for 2014.