Global Oil & Gas (AU:CND) has released an update.
Condor Energy Limited, alongside partner Jaguar Exploration, is venturing into the Tumbes Basin offshore Peru under a Technical Evaluation Agreement. This deal grants them an exclusive right to negotiate for a license over a 4,858 km2 area, potentially rich in oil and gas, for two years with a possible one-year extension. Condor holds an 80% stake, signaling a strategic move to expand their exploration footprint.
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