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Last C$0.18 CAD
Change Today +0.005 / 2.94%
Volume 27.0K
CPI On Other Exchanges
Symbol
Exchange
Toronto
OTC US
Munich
As of 9:30 AM 05/6/15 All times are local (Market data is delayed by at least 15 minutes).

condor petroleum inc (CPI) Snapshot

Open
C$0.18
Previous Close
C$0.17
Day High
C$0.18
Day Low
C$0.18
52 Week High
08/6/14 - C$0.40
52 Week Low
03/18/15 - C$0.13
Market Cap
60.6M
Average Volume 10 Days
95.5K
EPS TTM
C$-0.13
Shares Outstanding
346.1M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CONDOR PETROLEUM INC (CPI)

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condor petroleum inc (CPI) Details

Condor Petroleum Inc. engages in the acquisition, exploration, development, and production of oil and natural gas in Kazakhstan and Canada. The company owns a 100% interest in the Zharkamys West 1 territory that covers an area of approximately 2,610 square kilometers located in PreCaspian basin in western Kazakhstan; and a 66% interest in the Marsel territory, which covers an area of approximately 18,500 square kilometers located in Chu-Sarysu basin in south eastern Kazakhstan. It also operates and holds non-operated working interests in various oil and gas properties in Alberta, Canada. The company was incorporated in 2006 and is based in Calgary, Canada.

102 Employees
Last Reported Date: 03/18/15
Founded in 2006

condor petroleum inc (CPI) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$375.0K
Chief Financial Officer, Vice-President of Fi...
Total Annual Compensation: C$325.0K
Chief Operating Officer
Total Annual Compensation: C$333.4K
Vice President of Exploration & New Ventures ...
Total Annual Compensation: C$275.0K
Compensation as of Fiscal Year 2013.

condor petroleum inc (CPI) Key Developments

Condor Petroleum Receives Zharkamys Contract Extension

Condor Petroleum Inc. announced that the Government of Kazakhstan has approved an extension to the Zharkamys West 1 exploration contract for 10 months until Dec. 14, 2016. The Zharkamys exploration contract will be amended in due course. A drilling contractor has been selected to drill the KN-501 Primary Basin well. The well location will be constructed in May and drilling is expected to begin in June. The KN-501 well offsets the company's play opening KN-E Primary Basin discovery by eight kilometres and is located under the same salt dome. The well is planned to reach 4,250 metres.

Condor Petroleum, Inc. Reports Consolidated Earnings Results for the Year Ended December 31, 2014; Reports Production Results for the Fourth Quarter and Full Year December 31, 2014

Condor Petroleum, Inc. reported consolidated earnings results for the year ended December 31, 2014. For the year, the company's net income was $23.5 million or $0.07 per share including a $34.5 million gain on the sale of the Marsel property. For the fourth quarter of 2014, the company's production increased 64% to an average of 343 bopd from 210 bopd for the same period in 2013. The fourth quarter increase relates to the positive performance of the two Shoba horizontal wells which were successfully drilled and completed in the fourth quarter of 2014, representing the first shallow horizontal wells drilled in Kazakhstan's Pre-Caspian basin. For the year, the company's production decreased 30% to 205 bopd for the year ended December 31, 2014 from 291 bopd in 2013.

Condor Petroleum, Inc. Provides Operations Update

Condor Petroleum, Inc. provide an update on operational activities on the Zharkamys West 1 Territory in Kazakhstan. Shoba Trial Production: Production at Shoba has been temporarily suspended due to constraints in domestic refining capacity and low prices for crude oil and refined crude oil products. Kazakhstan is experiencing an oversupply of refined crude oil products, including diesel, which is causing downward pricing pressures on domestically produced diesel and on crude oil. Currently, Kazakhstan refineries are either not operating or the offering prices are below the Company’s cost of operations. The Government of Kazakhstan recently announced that customs duties on crude oil and certain refined products will be reduced. A temporary ban on imports of gasoline and diesel fuel from Russia has also been imposed. Both measures are intended to help alleviate the domestic market oversupply. The Company plans to commence with export oil sales from Shoba and Taskuduk later on this year once the respective commercial production contracts are executed. Drilling Update: The tendering process is underway to select contractors to drill the KN-501 Primary Basin target with operations scheduled to commence in second quarter of 2015. The KN-501 well offsets the Company’s play opening KN-E Primary Basin discovery by 8 kilometers and is located under the same salt dome. The well is planned to reach 4,250 meters and is targeting 67 MMboe unrisked mean prospective resources (internal Company estimate – see Resource Advisory). The remaining costs to drill the well are estimated at CAD 8 million.

 

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