Condor Energy

Piedra Redonda Gas Project Assessment Unlocks Multiple Development Options

Condor Energy Ltd (ASX: CND) (Condor or the Company) is pleased to provide an update on the significant progress made on development planning activities for the Piedra Redonda Gas Project within the Tumbes Basin Technical Evaluation Agreement (TEA or block) offshore Peru.


HIGHLIGHTS
  • Technical review of the historical Piedra Redonda Gas Field completed with potential field development and monetisation options identified
  • Scalable development options include gas-to-power and delivery of compressed natural gas (CNG) for industrial and domestic use
  • Completion of Well Test Data evaluation provides confidence in deliverability estimates and allows for assessment of production profiles for associated development concepts
  • Discovery well C-18X drilled in 1978 tested 8.2 million cubic feet per day on ½” choke from a limited 36 feet net pay interval out of estimated total 152 feet net pay interval
  • Contingent resources of 404 Bcf (2C) associated with C-18X discovery area with further 2.2 Tcf (2U) low risk upside located updip
  • Updated Independent Resource Estimate in progress following receipt of reprocessed 3D seismic data over Piedra Redonda Gas Field

Managing Director Serge Hayon commented:

“We are excited with the results of our initial review of Piedra Redonda gas field which contains an independent best estimate of 404 billion cubic feet (2C gross) with additional low-risk upside of 2.2 trillion cubic feet of gas (2U gross) within the Mancora Formation updip of C-18X discovery well.

“The C-18X well demonstrated strong gas flow rates from a limited 36 feet interval out of an estimated 152 feet total net pay in the Mancora Formation which underlines the significant well deliverability potential and supports multiple standalone development options.

“We will incorporate insights from our technical review and updated interpretation of the recently reprocessed 3D seismic data over the Piedra Redonda Gas Field to deliver an updated Independent Resource Assessment to support selection of future potential well locations and advance development planning.

“In light of the positive technical review we are commencing further commercial and feasibility studies for a conceptual gas-to-power project development plan to determine the optimal commercialisation pathway for the Piedra Redonda Gas Field.

Developing a commercial gas project at Piedra Redonda would not only realise the value of this asset but also allow access to additional undeveloped gas in the Tumbes basin.”


Click here for the full ASX Release

This article includes content from Condor Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

CND:AU
The Conversation (0)
Condor Energy

Condor Energy

Rare world-class hydrocarbon exploration opportunity

Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Condor Energy (CND:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
A$3M Placement to Advance High-Impact Workplan for Peru

A$3M Placement to Advance High-Impact Workplan for Peru

Condor Energy (CND:AU) has announced A$3M Placement to Advance High-Impact Workplan for PeruDownload the PDF here. Keep Reading...
Trading Halt

Trading Halt

Condor Energy (CND:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
Piedra Redonda Gas Field Best Estimate Resource of 1 Tcf

Piedra Redonda Gas Field Best Estimate Resource of 1 Tcf

Condor Energy (CND:AU) has announced Piedra Redonda Gas Field Best Estimate Resource of 1 TcfDownload the PDF here. Keep Reading...
Trading Halt

Trading Halt

Condor Energy (CND:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
Oil pumps and stock market graphs merging in a digital overlay.

Oil and Gas Price Update: Q3 2025 in Review

The oil market struggled in Q3 as prices continued to soften under mounting supply pressure. Following moderate gains in H1, prices contracted to end the third quarter lower than their July 1 start positions. Brent crude began the period at US$67.10 per barrel and finished at US$65.90, a 1.7... Keep Reading...
Alvopetro Announces September 2025 Sales Volumes, Quarterly Natural Gas Price Update, Non-Core Disposition and Western Canadian Expansion

Alvopetro Announces September 2025 Sales Volumes, Quarterly Natural Gas Price Update, Non-Core Disposition and Western Canadian Expansion

Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces September sales volumes of 2,231 boepd (based on field estimates), our updated quarterly natural gas pricing, the disposition of our Bom Lugar and Mãe da Lua marginal oil fields in Brazil an expansion of our inventory of... Keep Reading...
Gas stove and world map.

Top 10 Countries for Natural Gas Production

Natural gas is an important energy fuel, even as the world transitions to a carbon-free economy. When investing in this industry, it's key to know the ins and outs of natural gas production by country.Global natural gas production edged up 1.2 percent in 2024 to reach 4.12 trillion cubic meters,... Keep Reading...
CHARBONE Hydrogen Announces $2M Convertible Debentures Replacement

CHARBONE Hydrogen Announces $2M Convertible Debentures Replacement

(TheNewswire) Brossard, Quebec, September 18, 2025 TheNewswire Charbone Hydrogen Corporation (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE ") a company focused on green hydrogen production and distribution is pleased to announce the signature of Replacement Debentures... Keep Reading...
Charbone Hydrogene annonce des debentures convertibles de remplacement de 2M$

Charbone Hydrogene annonce des debentures convertibles de remplacement de 2M$

(TheNewswire) Brossard (Québec), le 18 septembre 2025 - TheNewswire - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH,OTC:CHHYF , OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), une compagnie spécialisée dans la production et la distribution d'hydrogène vert, est heureuse d'annoncer la... Keep Reading...

Latest Press Releases

Related News