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Global Oil & Gas ( (AU:CND) ) has provided an update.
Condor Energy Ltd has successfully raised $3 million through a placement of 115,384,616 fully paid ordinary shares, complemented by the issuance of 25,000,000 unlisted broker options. This capital increase will support the company’s strategic initiatives, including its partnership with Jaguar Exploration in the Technical Evaluation Agreement for the Tumbes Basin offshore Peru. This venture is expected to enhance Condor’s industry positioning by tapping into the significant natural gas resources in the region, potentially impacting its growth trajectory and providing opportunities for stakeholders.
More about Global Oil & Gas
Condor Energy Limited is a company operating in the oil and gas industry, with a focus on exploration and development. The company holds an 80% interest in a Technical Evaluation Agreement (TEA) for the Tumbes Basin offshore Peru, an area surrounded by several historic and currently producing oil and gas fields. This region includes the undeveloped Piedra Redonda gas field, which contains significant natural gas resources.
YTD Price Performance: 4900%
Average Trading Volume: 5,223
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $9.87M
Learn more about CND stock on TipRanks’ Stock Analysis page.
