ABOUT US
Welcome to Condor Energy Ltd
Condor Energy Ltd is an Australian ASX listed company (ASX:CND) with a mission to identify, explore and develop high impact energy assets.
The Company is currently focused in progressing the 4,858km2 Technical Evaluation Agreement (TEA) area offshore Peru in the highly prospective Tumbes Basin.
The TEA is covered by modern high quality 3D seismic data which has identified over 20 prospects and leads.
Condor is maturing the extensive prospect and lead inventory ahead of a partnering process to undertake a high impact drilling campaign to test the oil potential in high graded prospects.
The Company is also evaluating the feasibility of a standalone development of the discovered Piedra Redonda gas field located in shallow water in the TEA through a gas-to-power project.
Learn more about our exciting projects below.
Rare World-Class
Hydrocarbon Exploration Opportunity
Billion barrel oil potential in one of Peru’s proven offshore hydrocarbon basins with more than 20 prospects and leads mapped.
Undeveloped gas field in shallow water with 2C Contingent Resources of 404 Bcf plus 2U Prospective Resources of 2.2 Tcf.
Large acreage position covering 4,858 km2 prospective licence.
3,800 km2 of modern 3D seismic with only one exploration well drilled.
Technical Partnership with Havoc Services – proven explorers and oil finders.
MAJORS ACTIVE IN THE BASIN
Premier Position in a Prolific Neighbourhood
- In May 2024 Total Energies E&P (Total) signed three TEAs offshore Peru following Condor’s entry into the Tumbes Basin.
- Total’s TEA (LXXXIX) is contiguous to Condor’s TEA area.
- Total’s entry into Peru validates Condor’s identification of the exploration opportunity offered by the Tumbes Basin.
- The close presence of one of the world’s largest oil companies should attract interest from other oil companies and investors.
- Active E&P companies in Peru include Shell, Oxy, Hunt, Repsol YPF, Sonatrach, Tecpetrol, PetroTal, CNPC, PlusPetrol, Unna, Upland Resources, Savia and Perupetro.
- Talara Basin, immediately south of TEA, has produced 1.6 billion barrels of oil to date.
USE NEW TECHNOLOGY & INSIGHTS TO MATURE & HIGH-GRADE PROSPECTS TO DRILL READY
Strategy & Newsflow
- Condor and its JV partners, Jaguar, have designed a multi-disciplinary work programme to rapidly assess the petroleum prospectivity of the Tumbes Basin.
- There are a large number of prospective features across the whole 3D seismic volume and some features outside the 3D which are mapped on 2D seismic.
- The portfolio will be high-graded and risked before being audited by independent reserve auditors.
- The JV will seek to farm-down some interest in the project before converting the TEA into a conventional exploration contract.
- The primary objective is to drill one or more wells to test the oil potential in some of the undrilled prospects high-graded by the technical study.
- The secondary objective is to determine the feasibility of a gas-to-power project based on the development of the Piedra Redonda gas field.
