Condor Raises $13.65 Million to Fast-Track Uzbekistan Drilling Program

An update from Condor Energies ( (TSE:CDR) ) is now available.

Condor Energies has closed a brokered private placement of convertible debentures, raising gross proceeds of $13.65 million to fund an accelerated drilling and development campaign in Uzbekistan. The capital will be used to mobilize a second drilling rig for a 12-well program in 2026, install in-field compression facilities to boost production and cash flow, and support working capital and general corporate purposes, positioning the company for higher output through continuous drilling and a dedicated workover rig focused on production optimization.

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 Inc., listed on the TSX under the symbol CDR, is an energy company focused on upstream oil and gas development, with current growth efforts concentrated on expanding production in Uzbekistan through an intensive drilling and field optimization program.

Average Trading Volume: 44,343

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$118.3M

For detailed information about CDR stock, go to TipRanks’ Stock Analysis page.