Peruvian Tumbes Basin

High Impact Exploration in a Proven Basin

Substantial footprint covering 4,858km2 Technical Evaluation Agreement (TEA) with exclusive right to apply for a conventional exploration contract
Tumbes Basin only lightly explored by previous operators who focused on the onshore and shallow water areas.
Only one exploration well, Marina 1-X, has been drilled based on 3D seismic data and which did not test the primary objective.
TEA JV has acquired and amalgamated the extensive 2D and 3D datasets from previous operators.
Condor has completed 1,000 km2 of 3D seismic reprocessing (PSTM & PSDM) over three high graded areas across Bonito, Raya and Piedra Redonda.
Previously discovered resources provide accelerated path to development and cash flow opportunity.
Work program designed to high grade prospects and mature candidates to drill ready for future campaign.

Zorritos Unconformity. Structural traps, Zorritos reservoirs, Cardalitos seal
Intra Zorritos, Structural traps, Zorritos reservoirs and seals
Intra Zorritos, Structural/Stratigraphic traps with Zorritos reservoirs and seals plus truncation by Zorritos Unconformity sealed by Cardalitos
Heath basin margin sands. Structural trap with Heath reservoirs and seals.
Mancora Stratigraphic onlap play Mancora Reservoirs and Heath top seal
Mancora Structural traps, Mancora reservoirs and Heath top seal
Hydrate play. Various reservoirs sealed by hydrate layer
Channel play sealed by hydrates
Shallow biogenic gas mostly structural traps various reservoirs

Proven Reservoir: Zorritos Formation is the main target, with high-quality deepwater reservoir potential.
Source Rock: Oil-rich Heath Formation fuels the system, with clear migration pathways into reservoirs.
Well-Positioned Prospects: Targets sit directly above the oil-generating source rock — ideal for charge.
Multiple Play Types: A mix of structural and stratigraphic traps offers diverse drilling opportunities.
Piedra Redonda Gas Field: Most likely charged by Mancora source rocks downdip of the structure.- rich hydrocarbon system.
Effective Seal: Cardalitos Formation acts as a regional seal, trapping hydrocarbons efficiently.

Tumbes Basin only lightly explored by previous operators who focused on the onshore and shallow water areas.
Only one exploration well, Marina 1-X, has been drilled based on 3D seismic data and which did not test the primary objective.
TEA JV has acquired and amalgamated the extensive datasets from previous operators.
High quality legacy dataset comprises of:
7,134 km of 2D seismic
3,180 km2 of 3D seismic covering majority of TEA
>50 offshore and onshore wells drilled on 2D
Legacy reports and studies

Condor has selected three high graded areas across Bonito, Raya and Piedra Redonda to undergo 1,000 km2 of 3D seismic reprocessing (PSTM & PSDM), which is on track for delivery mid-year.
Regional 3D seismic volume undergoing pre-stack processing to generate lithology prediction cubes and Amplitude Versus Offset (AVO) cubes to assist in target identification and calibration with reprocessed volumes.