Condor Announces 2026 Second Quarter Results

CALGARY, Alberta, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Condor Energies Inc. (“Condor” or the “Company”) (TSX:CDR), a Canadian based, internationally focused energy transition company focused on Central Asia is pleased to announce the release of its unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2026 (the “Financial Statements”), together with the related management’s discussion and analysis. These documents will be made available under Condor’s profile on SEDAR+ at www.sedarplus.ca and on the Condor website at www.condorenergies.ca. Readers are invited to review the latest corporate presentation available on the Condor website. All financial amounts in this news release are presented in Canadian dollars, unless otherwise stated.

HIGHLIGHTS * Production in Uzbekistan for the second quarter of 2026 averaged 13,851 boe/d comprised of 13,458 boe/d (80,748 Mcf/d) of natural gas and 393 bopd of condensate or a total production increase of 17% from the first quarter of 2026 and a total production increase of 35% from the second quarter of 2025. * Uzbekistan natural gas and condensate sales for the second quarter of 2026 totaled $27.14 million or a 20% increase from the first quarter of 2026. * During the 7-day period of August 6, 2026 to August 12, 2026, the Company achieved a new production record of 17,925 boe/d over a 24 hour period due primarily to the completion and tie in of the newly drilled wells and production averaged 17,709 boe/d comprised of 17,250 boe/d (103,500 Mcf/d) of natural gas and 459 bopd of condensate for a total production increase of 28% versus the second quarter of 2026. * In May 2026, a second drilling rig arrived in Uzbekistan to accelerate the Kumli NW field development. The Company has now drilled and completed seven wells to date in 2026 and plans to drill five additional wells by year end. * An EPC contract is expected to be awarded in the third quarter of 2026 to install the first phase of a field booster compressor station in Uzbekistan. Field booster compression is expected to increase gas production rates by lowering the gathering system pressure. * The Company’s First LNG Facility for the Saryozek plant site (the “Saryozek Site”) is undergoing final pressure testing of the fully assembled unit and continues to target LNG production commencing in the first quarter of 2027. Third-party financing discussions are also being advanced. * On June 8, 2026, the Company exercised its option to convert all the 2024 Debentures, as defined herein, with a carrying amount of $8.19 million into 2,950,336 common shares. * On April 21, 2026, the Company completed a $29.9 million bought deal public offering at a price of $2.60 per common share. Production in Uzbekistan