BUZZ-Australia's Condor Energy surges on gas discovery in Peru

Reuters

01-16

BUZZ-Australia's Condor Energy surges on gas discovery in Peru

** Shares of Condor Energy CND.AX rise 57.9% to A$0.030, their biggest pct gain since May 3, 2023

** Stock hits its highest level since Nov. 1, 2024

** Energy co announces increase in contingent resources for its Piedra Redonda gas field in Peru

** Says independent assessment of the field shows 147% increase in its contingent resources estimate to 1 trillion cubic feet of gas from previous estimate

** Piedra Redonda now ranks as one of the largest undeveloped offshore gas discoveries on west coast of South America - co

** 45.4 mln shares change hands,119.0 times vs the 30-day average of 381,581

** Stock rose as much as 84.2% earlier in the day, marking its biggest intraday gain since June 7, 2023

** CND also saw its highest level since Sept. 27, 2024 earlier in the day

** Stock rose 5.6% in 2024

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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