Angkor receives approval oil & gas concession in Cambodian

Angkor receives approval for oil & gas concession in Cambodian

9:32 AM, 14th August 2019
Angkor Gold logo

TORONTO, CANADA: EnerCam Resources Co Ltd, subsidiary of Angkor Gold Corp, has received the approval of the Royal Government of Cambodia for a 7300 square kilometre oil & gas concession in Cambodia. 

With this approval, Angkor through its subsidiary will develop Petroleum Block VIII. This approval also allows Angkor to pursue oil & gas exploration on Block VIII.

Petroleum Block VIII is located in the Kampong-Som Basin, a recently recognized and unexplored onshore sedimentary basin in southeastern Cambodia. It was first identified and interpreted as a foreland basin in 2016 by researchers from the Danish Geological Survey who were interpreting a marine seismic database off the south coast of Vietnam.

To assist in this expansion of Angkor’s resource focus, Angkor will be working with recognized oil & gas exploration expert Dr. Lorne Rosenthal, who has worked in oil & gas exploration in the Western Canadian Sedimentary Basin for over 40 years.

Angkor also continues to explore and develop its five exploration licenses in Cambodia that cover approximately 983 km2, with the support of the Cambodian government, local communities and earn-in exploration funding partners such as Canada’s Hommy 5 Resources Inc. and Australia’s Emerald Resources NL. Angkor’s exploratory drill program on its Banlung License is ongoing.

“This is a major milestone for Angkor. Angkor is the first Canadian exploration company to be granted this level of approval to pursue oil & gas opportunities in Cambodia. After review, the Royal Government of Cambodia has determined Angkor’s subsidiary EnerCam to be technically qualified to explore and develop this oil & gas concession. With the long-term expertise and commitment of Angkor’s Executive Chairman Mike Weeks in foreign oil & gas projects and in Cambodia, we are well positioned to expand in SE Asia’s extractive sector,” said Stephen Burega, CEO, Angkor.

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