Condor Petroleum Inc. says that the Government of Kazakhstan has approved an extension to the Zharkamys West 1 exploration contract for ten months until December 14, 2016. The Zharkamys exploration contract will be amended in due course.
Drilling Update: A drilling contractor has been selected to drill the KN-501 Primary Basin well. The well location will be constructed in May and drilling is expected to commence in June. The KN-501 well offsets the Company's play opening KN-E Primary Basin discovery by 8 kilometers and is located under the same salt dome. The well is planned to reach 4,250 meters and is targeting 67 MMboe unrisked mean prospective resources.