CPI Condor Petroleum Inc

Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to
announce that it has received irrevocable bank guarantees totaling US $83.0
million for the sale of the Company's interest in the Marsel Territory in
Kazakhstan ("Marsel"). The total sale price is US $88.0 million. 


The irrevocable bank guarantees were received from a multinational, publically
listed financial institution and confirm the buyer's intent and ability to
complete this transaction. As previously announced, the transaction is expected
to be completed by the fourth quarter of 2013, once the necessary waivers and
consents from the Government of Kazakhstan are obtained. In the interim period
prior to closing, the buyer has provided a US $5.0 million loan to fund ongoing
Marsel exploration activities. 


The Company intends to use the proceeds from the Marsel sale to continue it's
near term focus on the exploration and development of the Company's Zharkamys
Territory and to pursue other oil-related growth opportunities within
Kazakhstan.


About Condor Petroleum Inc.

Condor is a Canadian oil and gas company with assets in Kazakhstan. Condor holds
a 100% interest in the exploration rights to the 2,610 square km Zharkamys
Territory, located in Kazakhstan's Pre-Caspian basin and a 66% interest in
Marsel Petroleum LLP which has the exploration rights to the 18,500 square km
Marsel Territory, located in Kazakhstan's Chu-Sarysu basin. The Company is
listed on the TSX under the symbol "CPI". 


Forward-Looking Statements

All statements other than statements of historical fact may be forward-looking
statements. Such statements are generally identifiable by the terminology used,
such as "seek", "anticipate'', "believe'', "intend", "expect", "plan",
"estimate", "continue", "project", "predict", "budget'', "outlook'', "may",
"will", "should", "could", "would" or other similar wording. Forward-looking
statements in this news release include, but are not limited to, the anticipated
completion of the sale of the interests in Marsel, the expected timing for
closing of the transaction and the use of the proceeds of the transaction.
Forward-looking statements involve the use of certain assumptions that may not
materialize or that may not be accurate and are subject to known and unknown
risks and uncertainties and other factors, which may cause actual results or
events to differ materially from those expressed or implied by such information.
Such factors and assumptions include, among other things, risks that the
conditions to the transaction including the consents and waivers of the
Government of Kazakhstan and certain third parties will not be satisfied,
regulatory changes, the timing of regulatory approvals and the ability to obtain
sufficient financing on reasonable terms. Condor's operations are also subject
to certain other risks and uncertainties including, the effects of weather and
climate conditions, fluctuation in interest rates and foreign currency exchange
rates, the availability of suppliers and their ability to meet commitments,
risks inherent with oil and gas operations, both domestic and international.
These factors are discussed in greater detail under Risk Factors - Risks
Relating to the Company in Condor's Annual Information Form for the year-ended
December 31, 2012. The Company believes that the expectations reflected in these
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct and such forward-looking statements
should not be unduly relied upon. The Company does not undertake any obligation
to update or to revise any of the forward-looking information, except as
required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Condor Petroleum Inc.
Don Streu
President & Chief Executive Officer
(403) 201-9694


Condor Petroleum Inc.
Sandy Quilty
Vice President, Finance & Chief Financial Officer
(403) 201-9694

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