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CONDOR ENERGY LIMITED Capital/Financing Update 2021

Nov 22, 2021

64676_rns_2021-11-22_7b9ad860-f9ab-4042-94d1-15658c527eda.pdf

Capital/Financing Update

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23rd November 2021 ASX ANNOUNCEMENT

Completion of acquisition of 25% interest in Drill Ready Multi TCF Sasanof Prospect

The Company is pleased to announce that following satisfaction of the remaining conditions precedent, including all necessary shareholder and regulatory approvals, that completion of the 25% acquisition of Western Gas (519P) Pty Ltd has now occurred.

Allotment of shares and options for the Tranche 2 Placement, Vendor Performance Shares, Facilitator Fees, Broker and Lead Manager Capital Raising Fees, Finance Facility, and Convertible Notes occurred 22 November 2021 (refer Appendix 2A dated 22 Nov 2021).

Further updates on the progress of the Sasanof Prospect will be provided to shareholders shortly.

Global Oil and Gas Director, Patric Glovac commented:

“This is a very exciting time for GLV shareholders in completing the Sasanof transaction and gaining exposure to a multi TCF and billion-barrel equialint target of gas and condensate in the North West Shelf. We look forward to working closely with Western Gas over the coming months as we move towards spudding of the well anticipated for Q1 2022.”

Authorised by the Board of Global Oil & Gas Limited.

For further information please contact: