CPI Condor Petroleum Inc

Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to
provide an update on the testing operations on the KN-E-201 Primary Basin
discovery well. 


The production test has commenced on KN-E-201 with the well averaging production
of 84 barrels of oil per day based on eleven production days. Production to date
has been on a 4 millimeter choke and flow rates have been hampered by salt plugs
forming in the tubing string. The salt plugs dissolve when exposed to fresh
water and steps are being taken to mitigate this issue. The oil gravity is 40
degree API and water cuts have averaged 33%. The water cuts are believed to
relate to the returns of the injected fresh water and a deeper water zone that
has not been totally isolated to date. The ninety day production test is
expected to continue until November 2013.


The KN-E-201 well confirms that the Primary Basin reservoirs are capable of oil
production, which is significant as this is the first well in a newly developing
play concept for the region. KN-E-201 also validates that salt-encapsulated
reservoirs can successfully be identified using the Company's high resolution 3D
seismic. The Company's current Primary Basin portfolio includes 6 matured
prospects which have 304 million barrels of Prospective Resources (unrisked) and
additional potential exists in the recently announced expanded acreage. The
KN-E-201 well results greatly reduce the geologic risks associated with this
portfolio.


Completion activities for the KN-E-202 appraisal well are expected to begin in
September 2013. 


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 3,777 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: production
results provided are not necessarily indicative of long term performance or
ultimate recovery; the impact of salt plugs on current and future production;
the expected source of water cuts to date and the future outlook; the potential
for other Primary Basin targets to contain reservoir quality rock; the ability
to identify salt encapsulated reservoirs using seismic; the potential for the
expanded acreage; the timing of future completion activities; and the estimates
of resources and future resources. 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, the results of the Company's exploration drilling and related testing
and completion activities, imprecision of resource estimates, risks that the
expansion area will be reduced or changed, 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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