(MENAFN- GlobeNewsWire - Nasdaq) CALGARY, Alberta, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Condor Energies Inc. (“Condor” or the“Company”) (TSX: CDR), a Canadian based energy transition company is pleased to announce that Don Streu, the Company's President and CEO, will present a technical paper at the 24th World petroleum congress (“WPC”) on Tuesday, September 19, 2023.
Titled,“Transitioning Kazakhstan's fuel Usage from Diesel to Localized LNG”, Don will present Kazakhstan's intended use of Liquefied Natural gas (“LNG”) as a transition fuel and Condor's ongoing activities to construct the country's first LNG facilities which will provide a material contribution to Kazakhstan's de-carbonization and emission reduction targets. Other companies presenting in the WPC's Forum 11 - Innovations in LNG & FLNG for the Energy Transition include China National Offshore Oil Company, Qatar Gas, and Kuwait Integrated Petroleum.
Condor continues to mature its Kazakhstan LNG initiatives to implement proven North American modular LNG technologies and processes to displace diesel fuel usage in the industrial, transportation and power generation sectors. The Company is currently in the process of securing long-term feed gas supply and a site for construction of Kazakhstan's first modular LNG production facility.
Also in Kazakhstan, the Company continues to advance its recently acquired contigu37,300-hectare lithium brine mining license. Additional historical subsurface data is being obtained and analyzed to augment and enhance the project's geologic model prior to drilling new wells. The Company's development plan over the next twelve months includes drilling and testing two wells to verify deliverability rates, confirm the lateral extension and concentrations of lithium in the tested and untested intervals, conduct preliminary engineering for the production facilities and prepare a mineral resources or mineral reserves report in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Readers are invited to review the Company's latest corporate presentation available on the Condor website at“condorenergies.ca”.
ABOUT CONDOR ENERGIES INC
Condor Energies is a TSX-listed energy transition developer focused on diverse initiatives in Central Asia and Turkey. With producing gas assets, an ongoing initiative to construct and operate Central Asia's first LNG facility, a separate initiative to develop and produce lithium brine and another initiative focused on gas field redevelopments, the Company has built a strong foundation for reserves, production and cashflow growth while also striving to minimize its environmental footprint.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute forward-looking statements under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as“anticipate'',“appear”,“believe'',“intend”,“expect”,“plan”,“estimate”,“budget'',“outlook'',“scheduled”,“may”,“will”,“should”,“could”,“would”,“in the process of” or other similar wording. Forward-looking information in this news release includes, but is not limited to, information concerning: the timing and ability to construct Kazakhstan's first LNG facilities; the timing and ability to provide a material contribution to Kazakhstan's de-carbonization and emission reduction targets; the timing and ability to implement proven North American modular LNG technologies and processes to displace diesel fuel usage; the timing and ability to secure long-term feed gas supply and a site for construction of a LNG production facility; the timing and ability to obtain and analyze additional historical subsurface data; the timing and ability to fund, permit and complete the planned activities including drilling and testing up to two wells, conducting preliminary production facility engineering and preparing a National Instrument 43-101 compliant report; the timing and ability to increase reserves, production and cashflow; and the timing and ability to minimize the Company's environmental footprint.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.