Angkor Resources' Enercam Advances to Inter-Ministerial Review of Exploration Drilling Program in Block VIII, Cambodia

Angkor Resources Corp. (ANK) subsidiary EnerCam announced that the Environmental Impact Assessment (EIA) for its Block VIII oil and gas exploration drilling program has advanced to an inter-ministerial review stage. A meeting held on July 14, 2026, in Phnom Penh brought together representatives from five Cambodian Ministries and three provinces to review the 398-page EIA.

The assessment outlines environmental and safety protocols for four planned exploratory wells across sub-basins, covering water sourcing, drilling fluid management, site safety, and land restoration. Following final written responses to regulatory questions, EnerCam will issue a tender for a drilling contractor to execute Cambodia's first privately financed onshore exploratory oil and gas wells. The company completed 2D-seismic surveys in 2025, identifying multiple drill targets, and is now moving toward the contracting phase.

Angkor Resources Corp. (ANK) announced a standard regulatory progression following the Environmental Impact Assessment (EIA) submission previously disclosed on May 19, 2026. The company noted that the inter-ministerial review is a routine administrative step required before final approval and the issuance of a tender.

No new financial terms, drilling dates, or contract awards were included in the update. The market had already priced in the EIA submission and the anticipated tender process. While the update confirms the project remains on track, it does not materially alter the risk/reward profile or provide immediate catalysts for price appreciation.

Prior-period context not disclosed in today’s release indicates that the company previously noted a $2 million payment to partner 358140 Alberta Ltd. was due June 30, 2026. Cash on hand was approximately $696,000 as of Q1-2026. The tender phase will require additional capital allocation or financing.

Angkor Resources Corp. operates mineral and energy exploration projects in Cambodia, positioning itself as the first mover in the country's onshore oil and gas sector with the aim of executing Cambodia's first privately financed onshore exploratory wells. Its flagship asset is the Block VIII oil and gas concession, covering approximately 4,095 square kilometres and held by subsidiary EnerCam. The company holds a 75% working interest in the concession following an agreement reached in April 2026.

The project targets four sub-basins—Bokor South, Bokor Central, Bokor North, and Kirirom—identified through 350 line-kilometres of 2D seismic data completed in 2025. Mineral exploration activities include the Andong Bor copper-gold target, located within the Thmei North anomaly, as well as the Andong Meas license, which encompasses the Gossan Hills and Canada Wall copper-iron skarn and Wild Boar gold prospects.