Condor Petroleum Inc. has reached a total depth of 1,150 meters on the Kiyaktysay North-3 (KN-3) well on the Zharkamys West 1 contract territory (the "Zharkamys Territory") in Kazakhstan, and that it has completed its wireline logging program.

The KN-3 well encountered 275 meters of Triassic-aged sandstone. Wireline logs identified 4 zones which resulted in 7 meters of net oil pay over a 90 meter interval. However, given the thin nature of the pay zones, KN-3 was deemed to be non-commercial and Condor intends to abandon the well. The Triassic sand package penetrated by the KN-3 well is of older geologic age than the commercially successful Triassic sands recently discovered by Condor at Shoba.

Don Streu, Condor's President and CEO commented: "Although it is unfortunate that KN-3 is not a commercial discovery, our drilling inventory remains intact with numerous prospects. KN-3 penetrated an older section within the Triassic that simply had too much reservoir and not enough shale to create an effective top seal. KN-3 provides us with an important calibration point for this play-type and we plan to incorporate the results into our geological interpretation and risk management for our remaining 2011 drilling program. The fact that oil was encountered on KN-3 further demonstrates the hydrocarbon system is active and widespread in the Zharkamys Territory."

Tags: Condor Resources Inc