CPI Condor Petroleum Inc

Condor Petroleum Inc. ("Condor" or the "Company") (TSX:CPI) is pleased to
announce the release of its Consolidated Financial Statements for the year ended
December 31, 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.


2013 highlights include:



--  The Company sold its 66% participating interest in, and certain
    indebtedness of, the Marsel property for US$88.0 million. The sale was
    completed January 28, 2014. 
--  An oil discovery was made at the Kiyaktysai North East field, which is
    the first salt encapsulated structure drilled at Zharkamys. Both the
    discovery and appraisal wells encountered 40 degree API gravity oil. 
--  The Company successfully extended the Zharkamys exploration period for
    an additional two year term until August 27, 2015. 
--  The Zharkamys territory was expanded by 45% or 1,167 km2to 3,777
    km2providing for two additional exploration areas to the east and to the
    south of the previous territory boundaries. 
--  Production increased to an average of 291 bopd in 2013 compared to 166
    bopd in 2012, due mainly to Shoba trial production during the year which
    lead to a 90% increase in revenues to $4.0 million in 2013 from $2.1
    million in 2012. 
--  Condor raised $15.0 million by issuing a senior unsecured note which
    allowed the Company to continue exploration and development activities
    at Zharkamys during the period until the Marsel Sale was completed. The
    Note was due and repaid upon completion of the Marsel Sale in February
    2014.



Condor is a Canadian oil and gas company with a 100% interest in-the exploration
rights to the 3,777 square kilometer Zharkamys West 1 Territory located in
Kazakhstan's Pre Caspian basin. The Company is listed on the TSX under the
symbol "CPI".


Advisory on 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, results of the
Company's discovery wells; results provided are not necessarily indicative of
long term performance or ultimate recovery. 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. Condor's operations are also
subject to certain other risks and uncertainties inherent with oil and gas
operations and additional information on these and other factors that could
affect Condor's operations and financial results. 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, 2013 which may be
accessed through the SEDAR website (www.sedar.com). 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.


The TSX does not accept responsibility for the adequacy or accuracy of this news
release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Condor Petroleum Inc.
Don Streu
President and CEO
403-201-9694

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