Condor Energies' Central Asian Ventures Drive Operational Momentum

Condor Energies' 2025 results show strong revenue and a 20% production increase in Uzbekistan, with key LNG infrastructure completed for Kazakhstan deployment.

Condor Energies is demonstrating tangible progress across its Central Asian portfolio, supported by fresh production metrics and a key infrastructure achievement. The company's latest operational updates, coupled with its recently audited 2025 financial results, paint a picture of strategic execution focused on Uzbekistan and Kazakhstan.

Financial Foundation and Strategic Refinement

The audited financial statements for 2025 reflect Condor's evolving operational scale. The company generated annual revenue of 80.66 million Canadian dollars (CAD). To sharpen its focus on core Central Asian assets, management divested its Turkish subsidiary in January.

Funding for continued expansion was secured in December through a convertible bond offering raising 13.65 million CAD. Furthermore, a short-term loan facility of 5.0 million USD was extended until July 2026, providing additional financial flexibility for the months ahead.

Production Surge in Uzbekistan

A drilling campaign initiated in September 2025 is yielding significant results. Average daily production for March reached 12,622 barrels of oil equivalent (boe/d). This figure represents an approximate 20% increase over the full-year 2024 average.

This boost is attributed to two newly completed wells that were brought online following successful testing. Operations are currently underway on an additional horizontal well, with completion targeted for mid-April. Current output consists almost entirely of natural gas, supplemented by a minor volume of condensate.

Liquefied Natural Gas Initiative Reaches Key Phase

In tandem with boosting gas production, Condor is advancing its liquefied natural gas (LNG) strategy. March saw the construction completion of its first gas liquefaction unit. The system is now undergoing final commissioning tests ahead of its planned shipment to Kazakhstan in the second quarter of 2026. This infrastructure is intended to displace more expensive industrial diesel fuel with cost-competitive LNG at the site.

Market Response and Forward Outlook

These developments generated positive trading activity for the company's shares. The stock advanced over seven percent to 1.31 euros, bringing it near its 52-week high of 1.33 euros.

The immediate strategic focus will center on the planned commissioning of the LNG unit in Kazakhstan. Market observers will also monitor whether ongoing drilling activities in Uzbekistan can sustain and stabilize the elevated production levels into the second quarter.