Angkor Assets’ vitality subsidiary granted onshore exploration and manufacturing license for Cambodia’s oil and fuel

Grande Prairie, Abbey – The Newswire – 4 October 2022 – Angkor Assets Corp. (TSXV: ANK.), And ,OTC:ANKOF) (“Angkor” or “Firm”) introduced its vitality subsidiary, EnerCam Assets Corp. (Cambodia) Co. Ltd. (EnerCam) has acquired the ultimate license for exploration, improvement and manufacturing on Block VIII onshore Cambodia.

Enercam President Mike Weeks Feedback, “We’re enthusiastic about advancing oil and fuel in Cambodia as a result of we imagine this can be a vital change for the nation as an entire. LNG as its long-term supply of vitality, for gasoline, and at present A complete number of merchandise imported into Cambodia will propel this nation to a brand new stage. It begins with exploration on Block VIII; we see fuel exhibits, oil rigs and different indicators on licenses that immediate us to discover level in a doable path.”

Preliminary reconnaissance on the licensed space by exploration consultants signifies a sedimentary foreland basin. Floor reconnaissance geologists detected a number of oil spills and fuel leaks within the goal areas (see map on the next web page).

The preliminary phases of exploration on Block VIII will embrace the acquisition of obtainable seismometers, after which a complete evaluation will likely be accomplished. Preliminary magnetization on the goal areas will even be a part of the Section I motion plan.

The licensed space is on the southwest nook of Cambodia. The permission is for an preliminary three-year search interval and for 2 additional renewal phrases of two years every. The phrases of improvement and manufacturing are for 25 years with further renewals.

The exploration will happen exterior park areas as a part of EnerCam’s ESG mandate, to assist the corporate shield Cardamon Mountains Nationwide Park and Preah Monivong and Kirirom Nationwide Parks.

De Vries, Angkor’s CEO, commented, “Till international locations have accomplished sourcing sufficient renewable vitality to fulfill world demand, clear and inexperienced use of hydrocarbons performs an essential function in each nation’s vitality steadiness. Cambodia wants its personal supply of vitality, and we sit up for actively exploring and producing vitality for Cambodia, establishing sturdy ESG rules in a brand new area of the nation.”

On the affect for the folks, she continues, “That is additionally an enormous alternative for human useful resource improvement with an essential new trade sector for Cambodia. Implementing finest practices for vitality manufacturing with hydrocarbons will assist your complete nation. Right here comes optimistic development and a template. We will use what now we have realized to cut back the carbon footprint and maximize advantages to the financial system and inhabitants.”

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Determine 2 Three examples of the EnerCam workforce’s energy vegetation, fuel manufacturing and oil manufacturing services.

About Angkor Assets Company

Angkor Assets Corp. is a public firm, listed on the TSX-Enterprise change, and a significant useful resource optimizer in Cambodia with a number of mineral licenses within the northern elements of the nation. In 2022, the corporate finalized negotiations on the phrases of the Manufacturing Sharing Contract (PSC) for Block VIII, a 7,300-square-kilometre oil and fuel license in Cambodia.


Delaney Weeks, CEO

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A few of the data on this information launch might include forward-looking statements that contain substantial identified and unknown dangers and uncertainties. These forward-looking statements are topic to various dangers and uncertainties, a few of that are past the Firm’s management, together with, however not restricted to, the potential nature of the Firm’s gold and/or different minerals in any of the Firm’s belongings. . any declare involving of the corporate property pursuits, affect of normal financial circumstances, trade circumstances, dependence on regulatory approvals, uncertainty of pattern outcomes, timing and outcome heyf future exploration, and availability of financing, Readers are cautioned that the assumptions used within the preparation of such data, though believed to be affordable on the time of preparation, might show to be false and, as such, undue reliance shouldn’t be positioned on forward-looking statements.

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