Condor Petroleum (Canada) has signed a Heads of Agreement with the Ministry of Energy of which provides Condor a 120-day window to negotiate a definitive PSA with the Ministry. The document was signed on 12 November 2019. The PSA, if executed, would include five producing gas fields (unspecified) and the associated infrastructure along with the right to explore and develop certain exploration areas surrounding the current producing gas fields. The fiscal and operating terms expected to be defined in the PSA include royalty rates, cost recovery, profit splits, gas marketing and pricing, governance and steering committee structures and acquisition payments for the immoveable property in the fields.  Condo Petroleum currently has E&P interests in Kazakhstan and Turkey.
Condor Petroleum (Canada) has signed a Heads of Agreement with the Ministry of Energy of which provides Condor a 120-day window to negotiate a definitive PSA with the Ministry.