February 5, 2013 - 8:11 AM EST
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CPI:CA 0.42 -0.005
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Condor Discovers Oil at Kiyaktysai
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CALGARY, ALBERTA -- (Marketwire) -- 02/05/13 -- Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to announce an oil discovery on the Kiyaktysai KN-E-201 well at the Zharkamys West 1 Territory ("Zharkamys") in Kazakhstan.
KN-E-201 encountered a 136 meter stacked sand - shale interval while drilling to an intermediate casing setting depth of 1,408 meters. Based on wireline logs, this interval has 58 meters of net hydrocarbon pay, consisting of a continuous 41 meter light oil column and a separate 17 meter gas column. An oil-water contact has not been penetrated.
Prior to drilling ahead to a total depth of 2,000 meters, the intermediate casing string is being set to isolate the upper 58 meter pay intervals from a higher pressured oil zone encountered at 1,400 meters.
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". |
