CPI Condor Petroleum Inc

Condor Petroleum Inc. ("Condor" or the "Corporation") (TSX:CPI) is pleased to
announce that its Taskuduk West 4 (TasW-4) well has reached a total depth of
1329 meters. The TasW-4 well is located on the 2,610 sq. km Zharkamys West 1
contract territory (the "Zharkamys Territory"), situated in Kazakhstan's
Pre-Caspian basin.


TasW-4 encountered 19 meters of net oil pay within two Triassic intervals. The
lower interval, which contains 13 meters of net oil pay, has not been
encountered in previous Taskuduk wells. This interval was identified using
Condor's 3D seismic attribute and pre-stack analysis. Based on formation
pressure data, the oil gravity is estimated to be 35 degrees API. 


Production casing has been run and cemented at TasW-4 and the well is scheduled
to be flow-tested once regulatory approvals are obtained. TasW-4 is the eighth
well drilled in 2011 and represents the fifth successful oil well. The next
prospect in the drilling queue is Uitas-6, another shallow Triassic structure. 


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 (through its wholly-owned subsidiary,
Falcon Oil & Gas Ltd. LLP) holds a 100% interest in the oil and natural gas
exploration rights to the 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
drilling results, the timing of planned well testing and drilling operations,
the Corporation's receipt of regulatory approvals and the timing and ability of
the Corporation to mature future drill targets and prospects. 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.


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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