CPI Condor Petroleum Inc

Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to
announce the release of its Unaudited Interim Consolidated Financial Statements
for the period ended September 30, 2013, together with the related Management's
Discussion and Analysis ("MD&A"). These documents will be made available under
Condor's profile on SEDAR at www.sedar.com and on the Condor website at
www.condorpetroleum.com. All financial amounts in this news release are
presented in Canadian dollars, unless otherwise stated. 


Q3 2013 highlights include:



--  Bank guarantees totaling US$83.0 million have been received pursuant to
    the binding agreement signed in the second quarter for the sale of the
    Company's 66% participating interest in the Marsel property for a total
    of US$88.0 million. All commercial conditions for closing have been
    satisfied and completion of the transaction is expected in the fourth
    quarter following receipt of the outstanding waivers and consents from
    the Government of Kazakhstan. 
    
--  The Zharkamys exploration period was extended for an additional two year
    term until August 27, 2015. 
    
--  The Government of Kazakhstan approved the expansion of the Zharkamys
    territory by 45% or 1,167 km2. 
    
--  Condor raised $15.0 million by issuing a senior unsecured note which
    allows the Company to accelerate exploration and development activities
    at Zharkamys during the interim period until the Marsel Transaction is
    completed.  
    
--  Production increased to an average of 318 bopd for the nine months ended
    September 30, 2013 compared to 98 bopd for the same period of 2012, due
    mainly to Shoba trial production and as a result, Company revenues
    increased 231% to $3.3 million from $1.0 million. 
    
--  Completion operations on KN-E-201 and KN-E-202 have finished and the
    wells are now undergoing flow and pressure build up testing to determine
    deliverability and reservoir properties. 



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 and timing of the disposition of Marsel; the anticipated
use of proceeds of the senior unsecured note; information concerning the timing
and ability to obtain various regulatory approvals; the results, timing and
completion of the Company's discovery wells; the timing of planned well testing
and drilling operations; results provided are not necessarily indicative of long
term performance or ultimate recovery; the potential for the expanded acreage;
the addendum to the Zharkamys exploration contract for the territory expansion;
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 disposition of Marsel, including the consents and waivers of
the Government of Kazakhstan will not be satisfied; regulatory changes; the
timing of regulatory approvals; in the event the Marsel disposition does not
close, Condor may need to pursue other sources of financing, which may or may
not be available, in order to fund its on-going operations and repay the senior
unsecured note on the maturity date; the Company's ability to continue as a
going concern; the ability of the Company to obtain financing on terms
acceptable to the Company; risks that the addendum to the Zharkamys exploration
contract related to the expansion territory will not be approved or executed;
risks that the expansion area will be reduced or changed. 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
www.condorpetroleum.com

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