Angkor Resources’ Gas Capture Advances IN Evesham, Saskatchewan
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ANGKOR RESOURCES’ GAS CAPTURE ADVANCES IN
EVESHAM, SASKATCHEWAN
GRANDE PRAIRIE, ALBERTA (April 25, 2023):
Angkor Resources Corp. (TSXV: ANK and OTCQB: ANKOF) (“Angkor” or the “Company”) announces the
operation of natural gas/carbon capture increased to over 450,000 cubic feet/day in March 2023 at its
gas capture project (the “Project”) in Evesham, Saskatchewan.
Initiated in January and a mid a cold winter start to the Project, the abundant snow and sub -30o C
temperatures complicated tying oil production wells into the gas conservation facilities. However,
gradually adding carbon emission natural gas into the pipeline continued and March production delivered
consistent numbers processing an average of 477,000 cubic feet/day (477 MCF).
The Project collects certain associated natural gas that is otherwise emitted into the atmosphere from
energy production. Mike Weeks, President of EnerCam Exploration Ltd., a subsidiary of Angkor Resources
Corp. comments, “As we all strive for cleaner forms of energy, capturing and processing these gases and
selling them through a provincial sales distribution only makes sense from both an environmental and
economical view. Instead of flaring or venting gas to th e atmosphere, we collect natural gas emissions
and reduce greenhouse gases.”
Examples of oil storage tanks venting and flaring.
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The Project has current capacity up to three million cubic feet per day, but each wellsite requires a pipeline
to connect to the gas capture facility site where dehydration and compression takes place. The Company
targets 500 MCF/day as a base and will continue to work with the operating partners of the project, Eyehill
Creek Exploration Ltd. to expand the collection and processing of carbon emissions into the provincial
natural gas sales pipelines.
The Project receives 40% of the net sales proceeds after payback of the EnerCam investment of $344,000
(with 80% of p roceeds until repayment) and is dependent on the spot price of natural gas , which has
ranged from $2.65 - $7.10 CAD/GJ over the past 12 months . Payback of the investment is estimated at
12-18 months if gas prices remain as low as today’s gas prices of $3.00 CAD/GJ.
Typical dual compression processing site connected via pipeline to oil production sites.
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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 the country. The company
holds multiple mineral exploration licenses in the country and in late 2022, its subsidiary, EnerCam
Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest
quadrant of Cambodia. Angkor expanded to Canada’s energy sector in 2022 with its carbon capture and
gas conservation project in Saskatchewan, Canada , proving its long-term commitment to Environmental
and Social projects across expanding jurisdictions.
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.
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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.