GRANDE PRAIRIE, ALBERTA - March 26, 2025 (NEWMEDIAWIRE) - ANGKOR RESOURCES CORP. (TSXV: ANK) ("ANGKOR" OR "THE COMPANY") announces that under its Cambodian subsidiary, EnerCam Resources Co. Ltd. Cambodia ("ECC"), geoscientists have established a 350 kilometer 2-D Seismic line program for furthering oil and gas exploration over the Block VIII onshore oil and gas license.
The technical team has identified six potential sedimentary sub basins of interest across Block VIII, four of them central west and two more shallow basins on the east. (see figure 1 below) The team has been working through all the publicly available data over the general Block VIII Permit area and regionally over all of southeast Asia to understand and methodically fast track ECC's proposed 2025 exploration activities.
Completion of seismic and interpretation is the main factor that leads to drilling targets. The primary initial seismic survey targets lie within the western half of the Permit Block in the informally named: South Cardamom, Central Bokor, South Bokor, and North Phu Quoc sedimentary sub basins.
On the east side of the Block VIII License, there appears to be two shallower sedimentary basins, North Kampot and South Kampot respectively. There are several known oil seeps of great interest in both sub basins and there are plans to shoot further 2-D seismic programs during later dry seasons possibly using accelerated weight drop (AWD) seismic technology which will be suited to such shallower potential targets.
These oil seeps on Permit Block VIII resemble those found at surface leading to the oil discoveries in basins of northwestern Thailand. The Phitsanulok Basin in Thailand is home to the Sirikit oilfield which is the largest onshore oilfield in that nation. The main Sirikit pool, discovered in 1981 had an initial estimate of some 800 million barrels and recoverable estimates of 148 million barrels of oil and 250 billion cubic feet (BCF) associated gas. Readers should note that this production is not necessarily indicative of the resource or reserve on Block VIII.
reference: 2001 C&C Reservoirs Field Evaluation Report Sirikit Field - updated to 2009.
Figure 1 below shows the outlines and locations of the identified sub-basins with initial and unofficial proposed names within Permit Block VIII.
Figure 2 illustrates the preliminary locations for the approximately 350-line kilometre Vibroseis 2-D seismic work program planned for the end of this current 2025 Dry Season. The work is estimated to begin as soon as the Environmental Impact Assessment ("EIA") is complete and approved by the Ministry of Environment.
Adjustments will be made to ensure all lines are kept within Permit boundaries, with no incursion into any of the Protected Park areas or special Ecological Reserve lands. (Pink lines depict the approximate 2-D line locations; the green spots depict approximate location of the many known oil seeps; the yellow line is the perimeter of the gross Permit Block VIII License.)
The 2-D Seismic is to be processed and interpreted over the coming rainy season and it is expected that the results will guide the next steps.
Advancing oil and gas development onshore is a substantial step forward for the Kingdom of Cambodia, which currently imports 100% of its hydrocarbon-based energy products.
QUALIFIED PERSON:
Dr. David D. Johnson, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #36247) and a Qualified Person (QP) as defined by National Instrument 51-101 ("NI 51-101"). He is the Company's QP on oil and gas projects and has reviewed and approved the technical disclosure in this document.
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's mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 3729 square kilometers in the southwest quadrant of Cambodia called Block VIII. Since 2022, Angkor's Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Evesham, Saskatchewan.
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.
