Condor Energies Inc. Reports Production Milestone and Capital‑raising Initiative
Condor Energies Inc. (TSX: CND) announced that its K‑46 field in Uzbekistan has achieved a new production record, reaching 14,000 barrels of oil equivalent per day (boe/d). The achievement, reported on 13 April 2026, marks the highest daily output for the site since operations began and underscores the company’s focus on expanding output in its international portfolio, which includes assets in Kazakhstan and Canada.
In the same day, the company disclosed a $15 million bought‑deal public offering. The proceeds will be used to support ongoing development activities and to finance future exploration projects. The offering, conducted under an agreement with a selected institutional investor, provides additional liquidity for Condor’s capital‑intensive growth strategy.
Key Financial Context
- Stock performance (as of 9 April 2026): CAD 3.03 per share, within a 52‑week range of CAD 1.35 to CAD 3.35.
- Market capitalization: CAD 207 million.
- Price‑to‑earnings ratio: –48.93, reflecting the company’s current operating losses in its oil and gas operations.
The production increase and capital‑raising activity are part of Condor Energies’ broader objective to enhance its production profile and strengthen its balance sheet as it pursues additional opportunities in the oil, natural gas, and natural gas liquids (NGL) sectors.
