CPI Condor Petroleum Inc

Condor Petroleum Inc. ("Condor" or the "Corporation") (TSX:CPI) announces that
it has reached a total depth of 1,000 meters on the Ebeity-5 ("Eb-5")
exploration well on the Zharkamys West 1 contract territory (the "Zharkamys
Territory") in Kazakhstan, and that it has completed its coring and wireline
logging program. 


The Eb-5 well targeted a separate structural closure on-trend with the recent
Eb-1 discovery. Eb-5 encountered the same reservoir units as Eb-1, with oil
shows on core samples and indicated on wireline logs, but was structurally lower
and non-commercial. The Eb-5 wellbore is being abandoned. The next well to be
drilled is Taskuduk W-4.


About Condor Petroleum Inc. 

Condor is a junior oil and natural gas corporation engaged in the exploration
for, and the acquisition, development and production of oil and natural gas
resources in Kazakhstan and Canada. Condor holds a 100% interest in the oil and
natural gas exploration rights to the 2,610 km(2) Zharkamys Territory. For
further information see Condor's (final) prospectus, dated March 31, 2011, a
copy of which is available under Condor's SEDAR profile at www.sedar.com.


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'', "believe'',
"intend", "expect", "plan", "estimate", "budget'', "outlook'', "may", "will",
"should", "could", "would" or other similar wording. Forward-looking information
in this news release includes, but is not limited to, information concerning
Condor's plans to abandon the Eb-5 well. By its very nature, such
forward-looking information requires Condor to make assumptions that may not
materialize or that may not be accurate. Forward-looking information is subject
to known and unknown risks and uncertainties and other factors, which may cause
actual results, levels of activity and achievements to differ materially from
those expressed or implied by such information. 


Such factors and assumptions include, but are not limited to: the results of
exploration and development drilling and related activities; imprecision of
reserves and resources estimates, ultimate recovery of reserves, prices of oil
and natural gas; general economic, market and business conditions; industry
capacity; competitive action by other companies; fluctuations in oil and natural
gas prices; the ability to produce and transport crude oil and natural gas to
markets; the effects of weather and climate conditions; fluctuation in interest
rates and foreign currency exchange rates; the ability of suppliers to meet
commitments; actions by governmental authorities, including increases in taxes;
decisions or approvals of administrative tribunals; changes in environmental and
other regulations; risks attendant with oil and gas operations, both domestic
and international; international political events; expected rates of return; and
other factors, many of which are beyond the control of Condor. Capital
expenditures may be affected by cost pressures associated with new capital
projects, including labour and material supply, project management, drilling rig
rates and availability, and seismic costs. These factors are discussed in
greater detail in filings made by Condor with Canadian securities regulatory
authorities. 


There is no certainty that any of the hydrocarbons will be recovered.
Hydrocarbon recovery is subject to all of the risks associated with oil and gas
operations, both domestic and international. 


Readers are cautioned that the foregoing list of important factors affecting
forward-looking information is not exhaustive. Furthermore, the forward-looking
information contained in this news release is made as of the date of this news
release and, except as required by applicable law, Condor does not undertake any
obligation to update publicly or to revise any of the included forward-looking
information, whether as a result of new information, future events or otherwise.
The forward-looking information contained in this news release is expressly
qualified by this cautionary statement.

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