Potential Oil & Gas Drilling Contractors Assess Drill Sites with Enercam Management on Block VIII, Cambodia
Angkor advances drilling preparation for Block VIII as its environmental impact assessment nears final approval.
Angkor Resources Corp. (ANK) subsidiary EnerCam has engaged potential drilling contractors to assess infrastructure and drill sites for its planned exploratory wells in Block VIII, Cambodia. The company is preparing to drill Cambodia's first privately financed onshore oil and gas wells, targeting depths up to 3,300 meters across four sub-basins: Kirirom, South, Central, and North Bokor.
The Environmental Impact Assessment (EIA) is in the final stages of approval by the Ministry of Environment, following an inter-ministerial review in mid-July. Teams are evaluating roads and bridges to ensure they can support heavy drilling equipment, while contractor selection proceeds via a tendered bid requiring government approval.
This update follows preliminary offtake discussions with Baron Point Financial Group and CNRS on August 4, and the commencement of diamond drilling on mineral prospects (Andong Bor and Gossan Hills) in June. The progression aligns with management's stated timeline to commence drilling in Q4 2026 or Q1 2027, contingent on final regulatory approvals.
Angkor Resources Corp. (ANK) announced routine operational progress following the submission of its Environmental Impact Assessment (EIA) and the subsequent inter-ministerial review. Site assessments and contractor due diligence are expected to follow as standard next steps in the process. The update did not disclose any new financial terms, drilling results, or regulatory approvals, indicating that the market had already priced in this phase of development. While the announcement validates management's execution on the exploration timeline, it does not alter the fundamental risk profile or valuation of the company.
Angkor Resources Corp. is a mineral and energy exploration company focused on projects in Cambodia. Its flagship asset is Block VIII, a 4,095 km² onshore oil and gas license in southwest Cambodia. The company holds a 30-year Production Sharing Contract for the block and aims to drill Cambodia's first privately financed onshore exploratory wells.
Mineral assets include the Andong Meas and Andong Bor licenses, which target copper and gold deposits, with active diamond drilling programs currently underway. Previously, the company divested its Saskatchewan oil and gas assets, known as Evesham, to focus capital on Cambodian exploration.