Condor Energy Raises A$2.25m in Share Placement to Fund Offshore Exploration

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

Condor Energy has raised A$2.25 million via a placement to sophisticated and professional investors, issuing 132,352,941 new shares at A$0.017 each, with one attaching option for every two new shares, exercisable at A$0.03 over three years. The share issue was completed under the company’s existing placement capacity, with attaching options pending shareholder approval, and Condor has confirmed compliance with relevant Corporations Act disclosure and reporting obligations, reinforcing its capital base as it advances exploration activities such as its Tumbes Basin interests in Peru.

More about Global Oil & Gas

Condor Energy Ltd is an Australian oil and gas company focused on offshore exploration, including its majority interest in the Tumbes Basin Technical Evaluation Agreement in Peru. The company holds 80% of the 4,858km2 TEA LXXXVI area in the offshore Tumbes Basin, an under-explored block near existing producing fields and the undeveloped Piedra Redonda gas field.

YTD Price Performance: -15.00%

Average Trading Volume: 1,455,260

Technical Sentiment Signal: Sell

Current Market Cap: A$12.19M

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