Condor Energies Inc.
On Track for Record Revenue & Production, and Key LNG Milestones
Published: 5/16/2025
Author: FRC Analysts
Sector: Energy | Industry: Oil & Gas E&P
Ticker Symbols:CDR.TO - TSX 🔹CNPRF - OTCQX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $1.8 |
| Fair Value | CAD $3.27 |
| Risk | 4 |
| 52 Week Range | CAD $1.32-2.72 |
| Shares O/S (M) | 67 |
| Market Cap. (M) | CAD $121 |
| Current Yield (%) | N/A |
| P/E (forward) | N/A |
| P/B | 5.2 |
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Report Highlights
- Q1 results were largely in line with our expectations, with record revenue coming in as forecasted.
- Production rose 4% QoQ, EBITDA increased 37% QoQ, and EPS improved from -$0.06 to -$0.001. While production and EBITDA met our forecasts, EPS came in 15% below our estimate, due to higher amortization expenses. Debt to capital declined, and free cash flows turned positive.
- Nearly all of the company’s production comes from a 20-year contract with the Government of Uzbekistan to operate eight gas fields in the country. CDR is utilizing proven Western technologies to enhance production and recovery rates.
- Since assuming operations in Q1-2024, CDR has not only stabilized production decline rates, but also brought several previously unproductive wells back online. The company is planning a multi
