Appointment of Mr Serge Hayon as Managing Director

Condor Energy Ltd (ASX: CND) (Condor or the Company) is pleased to advise that Mr Serge Hayon has commenced as Managing Director of the Company effective today.

Mr Hayon is an experienced Reservoir Engineer and Petroleum Geologist with broad exposure to working with and managing multi-disciplinary teams primarily focused on South East Asia, the Americas and Australia.

Mr Hayon has a Bachelor of Science in Geology (Honours) and an MEngSc in Petroleum Engineering from Curtin University.

Prior to joining Condor, Mr Hayon worked for Murphy Oil Corporation for 20 years including most recently as General Director / Country Manager Vietnam during which time he was in charge of the overall management of the Asia business including establishing Murphy’s entry into and securing Final Investment Decision on the Lac Da Vang oilfield, Vietnam.

Mr Hayon has delivered projects encompassing the complete lifecycle from exploration, discovery, appraisal to first oil and production of large oil and gas assets.

During his career his leadership has been instrumental in the development planning and execution of shallow and deep-water operations, maintaining a top safety record and ensuring that the projects and well programs were delivered on time and within budget.

Concurrently with the commencement of Serge as Managing Director, Ricardo Garzon Rangel will step down from Board as a Non-Executive Director but will remain involved in the Company on a flexible contract basis. The relevant appendix 3X and 3Z are attached.

Chairman Matt Ireland commented:

“Condor is in an exciting phase and Serge is joining the Company at a pivotal time to unlock and deliver value from our Tumbes TEA in Peru.”

“Serge has a great track record in the oil and gas industry and brings an outstanding skill set to lead the Company as our Managing Director and we are delighted he is joining the Board.”

Incoming Managing Director Serge Hayon commented:

“Condor has identified a unique opportunity and built an attractive position in the Tumbes TEA which is gaining industry attention due to the billion barrel potential of this proven but underexplored basin.

“I am thrilled to join the Condor team and eager to contribute to the advancing of its exciting portfolio of exploration opportunities, maturing our discovered gas resource towards commercialisation and drive the Company’s growth to unlock its full potential.”

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