Angkor Resources’ Energy Subsidiary Granted Onshore Exploration and Production License FOR Cambodia’S Oil & Gas
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ANGKOR RESOURCES’ ENERGY SUBSIDIARY GRANTED ONSHORE
EXPLORATION AND PRODUCTION LICENSE FOR CAMBODIA’S OIL & GAS
GRANDE PRAIRIE, AB (October 4, 2022): Angkor Resources Corp. (TSXV: ANK and OTC QB: ANKOF)
(“Angkor” or “the Company”) announces its energy subsidiary, EnerCam Resources Corp. (Cambodia) Co.
Ltd. (EnerCam) has received final licensing for exploration, development, and production on Block VIII
onshore Cambodia.
Mike Weeks, President of EnerCam, comments, “We are excited about moving oil and gas forward in
Cambodia as we believe this is a monumental change for the entire country. Having its own long-term
source of energy for LNG, for fuels, and a whole variety of products currently imported into Cambodia
will advance this country to a new level. It starts with exploration on Block VIII; we see gas shows, oil
seeps, and other indications on the license that point us in a potential direction for discovery.”
Initial reconnaissance over the license area by exploration experts indicates a sedimentary foreland
basin. Geologists performing on-the-ground reconnaissance found numerous oil seeps and gas seeps
across the targeted areas (see map on following page).
Initial phases of exploration on Block VIII will include the acquisition of available seismic, which will then
have comprehensive analysis completed. Preliminary magnetics on the targeted areas will also be part
of the first phase work plan.
The licensed area is on the southwest corner of Cambodia. The permitting is for an initial three-year
exploration term and two further renewal terms of two years each. Development and production terms
are for 25 years with additional renewals.
Exploration will be undertaken outside of park areas, part of EnerCam’s ESG mandate so the Company
assists in protecting Cardamon Mountains National Park and Preah Monivong and Kirirom National
Parks.
D Weeks, CEO of Angkor, comments, “Until countries have accomplished sourcing sufficient renewable
energy to meet global demand, cleaner and greener use of hydrocarbons plays a vital role in every
country’s energy balance. Cambodia needs its own source of energy, and we look forward to actively
exploring and producing energy for Cambodia, all the while establishing strong ESG principles in a new
sector of the country. “
On the impact for people, she continues, “This is also a huge opportunity for human resource
development with a significant new industry sector for Cambodia. Implementing best practices for
energy creation with hydrocarbons brings positive development and a template for the entire country.
We can use what we have learned elsewhere to minimize the carbon footprint and maximize the
benefits to the economy and the population.”
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Figure 1 Map showing survey results of gas seeps and oil seeps across Block VIII. GC reference is
for gas chromatography samples and assays.
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Figure 2 Three Examples of power plants, gas production and oil production facilities of the EnerCam team.
ABOUT ANGKOR RESOURCES CORP.
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource
optimizer in Cambodi a with multiple mineral licenses in the northern portions of the country. In 202 2,
the company finalized negotiations on the Production Sharing Contract (PSC) terms for Block VIII, a 7,300
square kilometre oil and gas license in Cambodia.
CONTACT:
Delayne Weeks, CEO
Telephone: +1 (780) 568-3801
Email: [email protected]
Website: http://www.angkorresources.com
Please follow @AngkorResources on LinkedIn, Facebook, Twitter, Instagram and YouTube.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks
and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control
of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective
nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence
upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers
are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.