Global Oil & Gas (AU:CND) has released an update.
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Condor Energy Ltd has revealed promising exploration updates for its offshore Peru prospects, indicating the presence of multiple mature source rocks ripe for oil generation. The Heath Formation, in particular, is highlighted as the primary source for the oil-mature areas covering much of the TEA region. Additionally, the prospects of Raya and Bonito are optimally located near these mature source rocks, enhancing their potential for oil accumulation.
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