This study explores the emission spectra and performance characteristics of a cryo-cooled CO laser system operating with CO2 laser gas mixture under various operating conditions, viz., N2 free gas mixture, different coolant temperatures and in grating tuned configuration. The narrow operational window in case of N2 free gas mixture, increased output power and richer emission spectrum obtained with the addition of N2 gas indicates enhanced discharge stability and efficient excitation in presence of Nitrogen. The emission spectrum revealed shifting of the trapping levels towards lower vibrational quantum number with reducing coolant temperature and the same was also corroborated by theoretical calculations. No lasing was observed for vibrational levels V>15 which is attributed to the higher partial pressure of oxygen inherently present in the gain medium formed due to dissociation of CO2. The system lased on more than 20 transitions in grating tuned configuration with power exceeding 100mW on several lines. The presence of higher concentration of O2 in the discharge prevents carbon deposition − a common issue in CO lasers. This study underscores the significance of this unconventional CO laser system offering reliable operation in the 5 µm wavelength region without the usage of extraneous CO gas.