11:51 AM EST - Condor Petroleum Inc : announced the release of its Consolidated Financial Statements for the year ended December 31, 2011 A number of important milestones were reached during the year. Following a fully subscribed private placement in December 2010, which raised gross proceeds of $45.0 million, the Company completed a fully subscribed Initial Public Offering in April 2011 and raised gross proceeds of $80.0 million. In connection with the IPO, the common shares of Condor commenced trading on the Toronto Stock Exchange. In May, 2011, the Company raised additional gross proceeds of $7.6 million pursuant to the exercise of an over-allotment option related to the IPO. The net proceeds from these financings, less agent fees and transaction costs, amounted to $123.8 million and will fund the Company's operations and planned capital programs through 2012. Condor Petroleum Inc
shares T.CPI are trading unchanged at $0.45.
