Exploration and Development of Mineral Resources at Angkor Site
In a significant development for Cambodia's energy sector, Angkor Resources Corp., through its subsidiary EnerCam Resources Co. Ltd., has received formal government approval to commence onshore oil and gas exploration in Block VIII, located in southwestern Cambodia. This marks the country's first-ever onshore oil exploration permit [1].
EnerCam finalized a 30-year production-sharing contract with the Cambodian government late in 2022, securing a license area of 3,729 square kilometers after reducing it from an initial 7,300 to safeguard national parks. The company is committed to conducting exploration outside protected park areas, aligning with its environmental, social, and governance (ESG) mandate, and will perform an environmental impact assessment as a priority [1].
The project aims to confirm the presence of commercially viable oil resources, potentially transforming Cambodia's energy landscape. The project involves a 12.5% royalty on oil sales and a 30% corporate profit tax as set by the production-sharing agreement [1].
To support these exploration activities, Angkor Resources recently completed an over-subscribed private placement, raising CAD $770,000, intended to fund the ongoing exploration and general working capital needs [4][5].
Angkor Resources, with over 10 years of experience in Cambodia, is a preferred corporate partner. The company has completed mapping and drilling on its properties, showing evidence of gold, copper, silver, molybdenum, and other minerals across all five licenses [1].
The company is the only publicly-traded North American company that owns mineral assets in Cambodia. All licenses held by Angkor Resources Corp. were successfully renewed in 2017. Since 2009, Angkor Resources has entered into over 10 deals on its properties, with a total value of over US$23 million [1].
Angkor Resources is pursuing opportunities in Cambodia's emerging oil and gas sector with a recently granted oil and gas concession in southeastern Cambodia. The company is aggressively seeking new oil and gas licenses in Cambodia, with exploration partners including Emerald Resources and Hommy 5 Resources [1].
The company's oil and gas operations are located in a region with oil and gas reserves to the west, north, and south. Angkor Resources has a supportive government in an underexplored and emerging mining jurisdiction. The company operates with low-cost, efficient exploration methods [1].
Angkor Resources' social development programs highlight the company's ongoing commitment to ethical and responsible industry practices in Cambodia. The company has regional-scale potential with ongoing exploration on several targets. Angkor Resources Corp. is advancing 30-plus prospects on licenses covering almost 1,000 square kilometers across five mineral licenses [1].
The Phum Syarung gold project, now permitted and in an advanced stage of mining infrastructure construction, is one of the company's key projects. In 2019, Angkor Resources was granted a 7,300-square-kilometer oil and gas concession in southeastern Cambodia on a newly-discovered inland basin [1].
CEO Delayne Weeks has been active in publicizing the company's commitment and progress, highlighting leadership in Cambodia’s nascent onshore oil sector while maintaining operations in Canada [3]. This information reflects the latest publicly available updates as of July 2025 [1][3][4][5].
References:
[1] Angkor Resources Corp. (2025). News Release: Angkor Resources Corp. Receives Approval for Onshore Oil and Gas Exploration in Cambodia. [2] Angkor Resources Corp. (2025). Investor Presentation: Angkor Resources Corp. - Onshore Oil and Gas Exploration in Cambodia. [3] Angkor Resources Corp. (2025). News Release: Angkor Resources Corp. Provides Update on Onshore Oil and Gas Exploration in Cambodia. [4] Angkor Resources Corp. (2025). News Release: Angkor Resources Corp. Completes Over-Subscribed Private Placement. [5] Angkor Resources Corp. (2025). News Release: Angkor Resources Corp. Announces Results of Annual and Special Meeting of Shareholders.
- EnerCam, driven by its environmental, social, and governance (ESG) mandate, will prioritize conducting exploration outside protected park areas in the renewable-energy sector, aligning with Cambodia's emerging onshore oil and gas industry.
- To fund the ongoing exploration in the oil and gas sector, Angkor Resources, a preferred corporate partner with over 10 years of experience in Cambodia, recently secured CAD $770,000 through a private placement, demonstrating commitment to finance energy projects in the country.
