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 June 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. 


Q2 2013 highlights include:

Marsel territory



--  In April 2013, Condor's wholly owned subsidiary entered into a binding
    agreement to sell its 66% participating interest in Marsel for US $88.0
    million, subject to various waivers and consents from the Government of
    Kazakhstan. In May 2013 the buyer provided a US $5.0 million loan to
    fund ongoing Marsel exploration activities. In July 2013 the Company
    received irrevocable bank guarantees totaling US $83.0 million, further
    confirming the buyer's intent and ability to complete this transaction.



Zharkamys West 1 territory



--  Kazakhstan production increased to 374 bopd in the first half of 2013
    compared to 94 bopd in the first half of 2012 due mainly to Shoba trial
    production. As a result, Company revenues increased 323% to $2.6
    million. 
--  Completion operations on KN-E-201 have finished and the well is now
    undergoing flow and pressure build up testing to determine
    deliverability and reservoir properties. 
--  KN-E-202 was drilled to a total depth of 1,955 meters and encountered
    similar reservoir and pay intervals to KN-E-201. Approvals are being
    sought for the completion and testing program. 
--  Approval for a two year exploration period has been granted which
    extends the exploration term until August 27, 2015. 



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 2,610 square km Zharkamys
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 square km
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
sale of the interests in Marsel, the expected timing for closing of the
transaction and the use of the proceeds of the transaction, targets, goals,
objectives and plans together with the respective timing associated therewith.
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,
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
www.condorpetroleum.com

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