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Condor Energies ( (TSE:CDR) ) has shared an announcement.
Condor Energies has completed the vertical drilling of its first well in Uzbekistan, discovering significant gas pay zones in both carbonate and clastic reservoirs. The company plans to extend the well horizontally, potentially setting a record for the longest horizontal well in Uzbekistan, and is also preparing to drill additional wells to boost production in an under-developed gas field, aiming to accelerate its growth and development in the region.
The most recent analyst rating on (TSE:CDR) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Condor Energies stock, see the TSE:CDR Stock Forecast page.
Spark’s Take on TSE:CDR Stock
According to Spark, TipRanks’ AI Analyst, TSE:CDR is a Neutral.
Condor Energies faces significant financial challenges, with profitability and cash flow issues being the most critical. Technical indicators suggest weak momentum, and the valuation is unattractive due to the negative P/E ratio. These factors contribute to a low overall stock score.
To see Spark’s full report on TSE:CDR stock, click here.
More about Condor Energies
Condor Energies Inc. is a Canadian-based, internationally focused energy transition company operating in Central Asia. The company is involved in the exploration and development of gas assets, with a focus on innovative drilling techniques to enhance production and efficiency.
Average Trading Volume: 53,234
Technical Sentiment Signal: Sell
Current Market Cap: C$109.7M
For a thorough assessment of CDR stock, go to TipRanks’ Stock Analysis page.