Condor Extends Kumli Field as High-Rate Well Boosts Uzbek Gas Ambitions

Condor Energies ( (TSE:CDR) ) has issued an announcement.

Condor Energies has extended the productive limits of Uzbekistan’s Kumli Northwest gas field after its Kumli-45 vertical well tested at a stabilized rate of 5.3 million cubic feet per day. The well encountered higher-than-expected reservoir quality and near-virgin pressure, suggesting a larger undrained structure and increasing the undeveloped potential of the field.

Kumli-45 is slated to be brought onstream this month, with four follow-up horizontal wells planned from the same pad targeting both the primary and deeper reservoirs. The company will also acid-stimulate and bring online its Andakli-21 and Andakli-23 horizontal wells, as management aims to leverage strong test results, dolomitized reservoir characteristics, and 3D seismic validation to materially grow reserves and production in 2026.

The most recent analyst rating on (TSE:CDR) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Condor Energies stock, see the TSE:CDR Stock Forecast page.

Spark’s Take on TSE:CDR Stock

According to Spark, TipRanks’ AI Analyst, TSE:CDR is a Neutral.

Condor Energies’ overall stock score is primarily impacted by its financial performance challenges, including declining revenue and profit margins, and negative cash flow growth. The technical analysis provides a slightly positive outlook due to some upward momentum indicators, but the valuation remains unattractive due to a negative P/E ratio and lack of dividends. These factors collectively result in a lower overall stock score.

To see Spark’s full report on TSE:CDR stock, click here.

More about Condor Energies

Condor Energies is a Calgary-based, internationally focused energy transition company with operations in Central Asia. The company is advancing natural gas development projects in Uzbekistan, positioning itself within the region’s upstream gas sector as it pursues reserve and production growth through both vertical and horizontal drilling programs.

Average Trading Volume: 51,755

Technical Sentiment Signal: Buy

Current Market Cap: C$124.4M

For a thorough assessment of CDR stock, go to TipRanks’ Stock Analysis page.