Angkor Resources Earns Record Net Revenue of $128,000 for July
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Angkor Resources Earns Record Net Revenue of $128,000 for July
GRANDE PRAIRIE, ALBERTA (October 2, 2024): ANGKOR RESOURCES CORP. (TSXV: ANK) (“ANGKOR”)
announces its record monthly earnings in net revenue for July 2024 generated by its subsidiary,
EnerCam Exploration Ltd. (“EnerCam”) in collaboration with its operating partner for production in
Saskatchewan (the Project), Eyehill Creek Exploration Ltd. (“Eyehill”). The project continues to
undertake activities to optimize benefits at the site.
EnerCam’s share of the Project’s net proceeds includes 40% of the oil and gas production sales.
EnerCam has seen a gradual yet healthy increase in the funds coming from the production of
hydrocarbons on the Project. The chart and table below illustrate the net returns to EnerCam on a
monthly basis since the acquisition of its 40% interest in November 2023.
EnerCam Exploration Ltd.
Evesham Monthly Financial Summary July 2024
Month of Operation July 2024 Barrels of Oil Equivalent
Gross Revenues $ 554,340 6229
Less: royalties - 39,624
Less: Operating Costs - 165,225
Subtotal for Project 349,491
Subtotal for EnerCam with 40% interest 139,796
Less: Capital - 2,700
Less: Other Truck and Trucking Costs - 8,781
Total Net Deposit to EnerCam $ 128,315
1 2 3 4 5 6 7 8 9
EnerCam's 40% Interest Deposit $76,757 $11,738 $73,756 $87,265 $90,071 $91,817 $91,817 $116,183 $128,315
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
CAD $ Monthly
Net Deposit Monthly 40% of Project to EnerCam
Monthly Deposits (in CAD)From EnerCam's 40% Interest In
Evesham Oil/Gas Project
Nov.23 Dec.23 Jan 24 Feb 24 Mar 24 Apr 24 May 24 June July24Production Month
**Note: proceeds of April and May 2024 were averaged due to variance in amounts sold, while production was held in tanks.
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Mike Weeks, President of EnerCam comments, “As we gradually maximize the optimization of the entire
Project, we also aim to realize financial benefits along with production benefits. Adding more capacity
for water injection has proven to increase the amount of oil recovered while decreasing the trucking
costs for water disposal elsewhere. The project has prepared the waterflood infrastructure for two
additional well conversions to water but we don’t expect to see results until well into December of
2024. Based on the previous results, the Project increased initial production up to 40% in the adjacent
wells when the water injection wells were completed.”
Ongoing work continues with the carbon capture of emission gases for assessment, verification,
certification, and monetization.
ABOUT ANGKOR RESOURCES CORPORATION:
ANGKOR Resources Corp. is a public company, listed on the TSX -Venture Exchange, and is a leading resource
optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR’s
carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to
Environmental and Social projects and cleaner energy solutions across expanding jurisdictions. The company holds
three mineral exploration licenses in Cambodia and its Cambodian subsidiary, EnerCam Resources, was granted an
onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia. Since 2022, Angkor’s
Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production
in Evesham, Saskatchewan.
CONTACT: Delayne Weeks - CEO
Email: [email protected] Website: angkorresources.com Telephone: +1 (780) 831-8722
Please follow @AngkorResources on LinkedIn, Facebook, Twitter, Instagram and YouTube.
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 e conomic 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.