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The latest update is out from Global Oil & Gas ( (AU:CND) ).
Condor Energy has advanced its Peruvian offshore strategy during the December 2025 quarter by signing a memorandum of understanding with Peruvian gas distributor Promigas Perú to assess gas offtake from the Piedra Redonda gas field, a key step toward establishing a long-term gas supply route and supporting Peru’s gas massification policy while underpinning the future commercialisation of the field. On the technical front, the company identified the new Raya West prospect as an extension of the existing 575 million barrel Raya prospect, with advanced AVO seismic analysis revealing multiple stacked anomalies over an 800-metre interval that significantly de-risk both Raya and Raya West by indicating multiple potential hydrocarbon-bearing zones within Condor’s broader multibillion-barrel Tumbes Basin portfolio.
More about Global Oil & Gas
Condor Energy Limited is an ASX-listed oil and gas exploration company focused on offshore Peru, where it holds an 80% working interest in the 4,858 km² TEA LXXXVI block in the Tumbes Basin. The under-explored block hosts the undeveloped shallow-water Piedra Redonda gas field, with best estimate contingent resources of 1 Tcf of natural gas, and more than 20 additional prospects and leads, including multibillion-barrel prospective oil resources independently assessed across the Bonito, Raya, Salmon, Caballa and Tiburon areas.
Average Trading Volume: 814,187
Technical Sentiment Signal: Sell
Current Market Cap: A$13.62M
For detailed information about CND stock, go to TipRanks’ Stock Analysis page.