Angkor Resources Corp. Launches Assessment with Communities and Ministry on Block VIII Oil License, Cambodia
Grande Prairie, Oct. 3, 2023 - Angkor Resources Corp. (TSXV:ANK) and (OTC:ANKOF) ("Angkor" or the "Company") announces the completion of a community assessment mission for ESG (Environment, Social, Governance) and CSR (Corporate Social Responsibility) on Block VIII oil and gas license. The Company's energy subsidiary, EnerCam Exploration Ltd. (EnerCam), has spent the past two years working to reduce emissions and improve and increase energy creation in both Canada and Cambodia. Given the extensive research completed by EnerCam on its Block VIII license, Mike Weeks, President of EnerCam, comments, "We are convinced that Cambodian citizens are standing on their own energy resource and the country only needs a few leaders in oil and gas to mobilize the entire sector. Western Canadians are proven energy industry experts and are known for helping other nations in implementing the latest technology and innovative advancements. The result is a huge opportunity to produce energy, and concurrently transfer training, expertise, and environmental solutions from one nation to another." Weeks continues, "We can take our past experience of 75 years building the industry in Western Canada and help fast-track Cambodia to implement carbon capture and clean green energy solutions at the same time as proving the resource on Cambodian soil."
As part of initial activities, EnerCam staff undertook an ESG / CSR mission across the Ou Bak Roteh Commune, meeting with five members of MME (Ministry of Mines and Energy), community leaders including three chiefs of the villages, chief of the commune, and four community representatives. Similar to their method of operating in mineral activities, the Company undertakes community needs assessments to identify social, environmental, education, and health priorities in areas in which EnerCam intends to work.
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Consistently, the communities requested employment for local residents in exploration activities, assistance with clean water and sanitation projects, English and computer training and skill set vocational training for the oil and gas industry.
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Discussions with community officials mirror decade-old patterns from development in Canada, such as questions about how private landowners are compensated if the Company is on surface land.
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Stated from Ministry of Mines and Energy, Cambodia spent more than $3.8 billion USD importing oil and gas products in 2022 as the country currently has no domestic oil and gas production and are significant buyers of LPG (liquid petroleum gas) and LNG (liquified natural gas) as well as other energy products. EnerCam was granted an onshore license in the southwest area of the country last year and is looking to lead Cambodia to its own domestic energy production from onshore hydrocarbons.
EnerCam is also awaiting approval on its Production Sharing Contract to restart offshore production on Apsara, a government owned project with the wellhead platform located 160 kilometers from shore.
EnerCam continues to seek additional solutions and niche markets to reduce emissions and improve energy creation.
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 subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia.
CONTACT:
Delayne Weeks - CEO
Email: info@angkorresources.com Website: angkorresources.com Telephone: +1 (780) 831-8722
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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.