Latest Licence Conversion News

Condor Energy has wrapped up its Technical Evaluation Agreement work programme ahead of schedule, reinforcing the multi-billion barrel oil and gas potential in Peru's Tumbes Basin and setting the stage for licence conversion and strategic partnerships.

Condor Energy has agreed to acquire Jaguar Exploration’s 20% stake in the TEA 86 offshore Peru project, moving to full ownership. The deal, structured through performance shares, aims to simplify equity and support licence conversion and future partnerships.

Condor Energy has identified extensive deepwater turbidite reservoirs across its TEA-86 offshore acreage in Peru’s Tumbes Basin, significantly reducing exploration risk and advancing plans for drilling and licence conversion.

Condor Energy has updated its corporate presentation revealing significant progress in Peru’s Tumbes Basin, highlighting a 1 trillion cubic feet gas discovery and a multi-billion barrel oil exploration portfolio. The company is moving towards converting its evaluation agreement into a full exploration licence while advancing commercial discussions for gas offtake.

Buru Energy has agreed to sell its hydrogen-focused subsidiary 2H Resources and non-core Canning Basin assets to Koloma Australia for up to AUD 2 million, marking a strategic pivot towards its Rafael Gas Project.

Thor Energy PLC has fast-tracked exploration activities at its newly acquired South Australian hydrogen and helium licence following a promising independent resource assessment. The company reported a net cash outflow but maintains a solid cash position to support upcoming work.