CPI Condor Petroleum Inc

Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to
announce the issuance of a senior unsecured note in the principal amount of CAD
$15,000,000 (the "Note"). The Note shall bear interest at 16% per annum with 1%
payable on closing and the remaining 15% accruing daily and payable quarterly in
arrears. 


These funds allow the Company to accelerate exploration and development
activities at the Zharkamys Territory during the interim period until the Marsel
Transaction (as defined below) is completed. The Note proceeds may also be used
for other general corporate expenditures and debt service obligations under the
Note.


The Note is due on the earlier of September 15, 2014 and on receipt of the
proceeds from the disposition of the Company's 66% participating interest in and
certain indebtedness of Marsel Petroleum LLP (the "Marsel Transaction"). The
Note includes customary covenants, representations, warranties and default
provisions for a senior unsecured note of a similar nature, including
restrictions on incurring additional debt. 


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". 


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 press release include, but are not limited to, the
anticipated completion of the Marsel Transaction, the expected timing for
closing of the Marsel Transaction and the use of the proceeds of the Note.
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 or will
not be satisfied in a timely fashion, regulatory changes, the timing of
regulatory approvals. In the event the Marsel Transaction does not close, Condor
may need to pursue other sources of financing, which may or may not be
available, in order to fund its ongoing operations and repay the Note on the
Maturity Date. 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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