Condor Energy Optimistic on Tumbes Basin Prospects

Global Oil & Gas (AU:CND) has released an update.

Condor Energy Limited reports promising exploration activities in the Tumbes Basin, with the Raya and Bonito Prospects indicating high potential for oil generation. The company’s technical evaluations suggest the presence of significant oil and gas resources, underscored by the entry of TOTAL Energies into the basin and the identification of new targets in the oil-bearing Zorritos Formation. With a strong capital structure, no debt, and a market capitalization of $17.3M, Condor Energy is advancing its offshore Peru block with optimism.

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