EDITOR: | October 24th, 2019 | 2 Comments

Angkor Resources new oil and gas exploration in Cambodia begins well

| October 24, 2019 | 2 Comments
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The expansion of Angkor Resources Corp. (TSXV: ANK) into oil and gas is off to a promising start. The Company recently reported identifying a number of well-distributed oil seeps within and around the mapped Tertiary rift basins of Angkor’s new Block VIII oil and gas license, and announced last week that USD $1 million has already been raised to further exploration.

Background

Angkor Resources (formerly Angkor Gold) has extensive in-country experience in Cambodia, a huge land package (983 km²) in Cambodia with multiple prospects focused on gold, silver and base metals, over USD $24 million in asset transactions and financings to date, and a recently added oil and gas exploration license (7,300 km² concession) to complement their existing large portfolio of Cambodian resource projects.

New oil and gas opportunities off Cambodia – Oil seeps discovered

In August 2019 Angkor Resources Corp. subsidiary EnerCam Exploration Ltd. received license approval from the Cambodian Government to Block VIII of the Kampong-Som Basin.

Then just about 2 weeks ago Angkor announced that they have discovered multiple oil seeps. An oil seep is a natural leak of crude oil and gas that migrates up through the seafloor and ocean depths. Testing of the seeps confirmed that the samples contained hydrocarbons of thermogenic origin (i.e. liquid hydrocarbon generated at depth from mature source rocks that had migrated to surface).

Multiple oil seeps documented on Angkor’s new Block VIII license

Angkor CEO Stephen Burega stated: “We are very pleased to have this data locating and testing seeps on our new oil and gas license. The testing results on the oil seeps confirm surface hydrocarbons. With the large amount of work and data compiled on Angkor’s 7,300 km2 Block VIII, we have multiple targets. This allows us to greatly speed up our initial exploration and allows us to focus on already identified areas of interest.”

Independent field research conducted for Angkor indicates that Block VIII is host to a newly recognized and completely unexplored foreland sedimentary basin related to the Bokor-Elephant Mountain compressional fold and thrust belt. Angkor is now proceeding with the negotiation of the Production Sharing Agreement (PSA) with regard to the license.

CEO Stephen Burega adds: “With our recent announcement of our successful oil and gas license application in Cambodia, our recent name change to Angkor Resources reflects our diversification into oil and gas assets in addition to our established mineral exploration projects.”

Cambodia is relatively under-explored 

Cambodia and Thailand host a number of Tertiary rift-basins both onshore and offshore. The main difference is this:

  • Thailand – Over several thousand wells have been drilled, with more than 40 producing fields in basins of Tertiary age.
  • Cambodia (despite having similar geology to Thailand) – Limited exploration drilling with little more than 30 wells drilled, none of them inland.

The point here is that Cambodia is clearly under-explored despite having similar regional geology to Thailand.

US$1 million recently raised to support exploration

To advance Angkor’s new Cambodian oil and gas license at Block VIII, Angkor subsidiary, EnerCam Exploration Ltd. has raised USD $1,000,000 through the private sale of shares of EnerCam Resources Singapore Pty. Ltd. to various international accredited investors. EnerCam Resources Singapore is a private company incorporated in Singapore by Angkor to hold 100% ownership of the Cambodian oil and gas concession license. EnerCam Exploration Ltd., has allocated up to 2.5 million of a total 10 million outstanding shares of EnerCam Singapore for sale at a price of USD $1 per share in order to finance early stage start-up costs and exploration of the Block VIII oil and gas license. About 1 million of the available shares have been sold to date. These funds will be used to pay licensing fees, acquire existing seismic and geological data, field exploration and general operating expenses.

Exploration for gold and base metals continues with the help of the Cambodian government and JV partners

With the support of the Cambodian government, local communities, and earn-in exploration funding partners, such as Canada’s Hommy 5 Resources Inc. and Australia’s Emerald Resources NL. Angkor continues to explore numerous gold and copper targets on its five mineral exploration licenses covering a 983-square km land package in Cambodia.

Angkor Resources gold & base metals tenements, JV partners, and promising Au results

Headquartered in Alberta, Canada, Angkor Resources is the first North American publicly-traded mineral and oil & gas exploration company in Cambodia.

With massive Cambodian land packages prospective for gold, base metals, and now oil; Angkor Resources should definitely be on investor’s radar screens.


Matthew Bohlsen

Editor:

Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>


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Comments

  • Angkor Resources new oil and gas exploration in Cambodia begins well – The Cambodia Daily
    October 24, 2019 - 8:12 PM

  • Ermakov

    NATURAL GAS AND LAND SURFACES
    (according to informational space diagnostics of ICD)
     
    Natural gas is formed as a result of chemical reactions at a depth of 177 – 120 km from the surface of the Earth at a temperature of 1122-985 degrees Celsius. Further, natural gas enters the solid zone of the crust at a depth of 90 to 27 km. This part of the crust has a porosity of about 2.2% with a pore diameter of 5 mm. The thickness of such a sphere is about 63 km. The pores in this part of the crust are uniform and open to the passage of gas.
    At a depth of 27 km from the surface of the earth, gas enters the surface layer of the crust, where the temperature varies from 777 degrees to the surface temperature of the Earth. The surface layer 27 km thick has both open and closed pores ranging in size from 1 to 44 mm. In a 27 km thick layer, gas permeability is greater than in a 63 km thick underlying layer. A 27 km thick layer has a porosity of 2.2% and oil accumulates in it.
    The rate of gas exit from the earth’s surface to the atmosphere is uneven and ranges from 11 mm / year to 222 meters / year. 44% of natural gas passes through drilled wells and enters our technical devices, where gas is burned or used in chemistry. The rest of the natural gas passes freely through the Earth’s surface and 88% of it is oxidized at an altitude of 2-4 km. In the end, always all natural gas has always been oxidized in the air.
    Since 1999, the era of climate warming began, when the Creator gave another impulse of energy to the Earth. After such an impulse of energy, temperature redistribution throughout the entire volume of the Earth began. Earth warming up leads to a decrease in the thickness of the hard crust. The minimum thickness of the hard crust was 99 km in 1999. Reducing the thickness of the crust leads to the failure of the surface areas of the earth. The first land failures began in South America and the Atlantic Ocean. The dips were up to 66 m deep and 44 km long.
    Since the heating of the upper layers of the Earth will continue for 300 years, in the 21st century the minimum thickness of the earth’s crust will be 92 km, which will lead to an increase in dips in the earth along with an increase in the temperature of the earth’s surface. Dips will be on all continents and in the oceans. By the end of the century, the dips will be up to 456 m deep and 66 km long. The territory of future failures will be in the zone of 456 cities in which people’s life will not be possible. Therefore, it is necessary to identify failure zones in advance and relocate people.
    Ermakov P, professor

    October 26, 2019 - 11:48 AM

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