CPI Condor Petroleum Inc

Editors Note: There is one figure associated with this press release.

Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to
announce that the Zharkamys West 1 Territory ("Zharkamys") has been expanded by
43% or 1,124 km2 (278,000 acres) to a total area of 3,734 km2 (923,000 acres).
The Company is targeting additional Pre-Salt and Primary Basin exploration plays
on the new acreage. Numerous prospective structures have already been identified
and 3D seismic acquisition is planned to fully characterize the new acreage
resource potential.


To view the figure associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/condor0903.pdf 


The Zharkamys expansion has been approved by the Ministry of Oil and Gas of the
Republic of Kazakhstan and is expected to be added to the current exploration
contract. The proposed minimum work program is an additional US$2.9 million. The
Zharkamys expansion could substantially augment the Company's existing 1,515
MMboe Prospective Resources.


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 3,734 km2 Zharkamys West 1
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 km2 Marsel
Territory, located in Kazakhstan's Chu-Sarysu basin. The Company is listed on
the TSX under the symbol "CPI". 


Resource advisory

This news release includes information pertaining to internal Condor generated
estimates of Company resources effective February 8, 2013, which were prepared
by a qualified reserves evaluator in accordance with National Instrument 51-101.



Statements relating to resources are deemed to be forward looking statements, as
they involve the implied assessment, based on certain estimates and assumptions,
that the resources described exist in the quantities predicted or estimated. The
resource estimates of Condor's properties described herein are estimates only.
The actual resources may be greater or less than those calculated. Estimates
with respect to resources that may be developed and produced in the future are
often based upon volumetric calculations, probabilistic methods and analogy to
similar types of resources, rather than upon actual production history.
Estimates based on these methods generally are less reliable than those based on
actual production history. Subsequent evaluation of the same resources based
upon production history will result in variations, which may be material, in the
estimated resources. 


Prospective Resources disclosed herein are those quantities of petroleum
estimated, as of a given date, to be potentially recoverable from undiscovered
accumulations by application of future development projects. Prospective
Resources have both an associated chance of discovery (geological chance of
success) and a chance of development (economic, regulatory, market and facility,
corporate commitment or political risks). The chance of commerciality is the
product of these two risk components. These estimates have not been risked for
either chance of discovery or chance of development. There is no certainty that
any portion of the Prospective Resources will be discovered and, if discovered,
there is no certainty that it will be developed or, if it is developed, there is
no certainty as to either the timing of such development or whether it will be
commercially viable to produce any portion of the resources. Unless otherwise
stated, any reference to Prospective Resources refers to Gross, Mean
Recoverable, Prospective Resources (Unrisked).


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 Primary
Basin and Pre-Salt prospects, the addendum to the Zharkamys exploration contract
for the territory expansion, the expected increase to the minimum work program
and related financial and work obligations thereon. 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 addendum to the
Zharkamys exploration contract will not approved or executed, risks that the
expansion area will be reduced or changed, risks that the actual minimum work
program will exceed the initially estimated amount, 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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