Angkor Resources Increases Ownership in Cambodian Oil and Gas Concession
GRANDE PRAIRIE, ALBERTA — April 28, 2026 — Leads & Copy — Angkor Resources Corp. (TSXV: ANK) has announced that its energy subsidiary, EnerCam Exploration Ltd., has entered into an amended and restated joint strategic alliance agreement with 358140 Alberta Ltd. to increase Angkor’s ownership interest from 20% to 75% in the Block VIII oil and gas concession in Cambodia.
According to the agreement, Angkor’s interest in the 4,095 square kilometer Block VIII concession will increase from 20% to 75% by funding the drilling program and making a payment of USD2 million to 358 by June 30, 2026. Angkor has the option to make the USD2 million payment by issuing common shares to 358, with the share price based on the 30-day volume-weighted average trading price prior to the payment date, subject to TSX approval.
Upon completion of the drilling program, the Block VIII interests will convert to a working interest, and 358 will be obligated to contribute 25% of development costs after all drilling has been completed.
Mike Weeks, President of EnerCam, stated that the deal benefits EnerCam/Angkor and its shareholders by substantially increasing their interest to 75%. He added that 358’s early-stage funding allowed EnerCam/Angkor to advance the license, and now they have drill targets and hold a 75% interest as they move toward drilling.
EnerCam was able to undertake and complete several milestones due to 358’s financial contributions, which exceeded CAD 3.6 million. These milestones include final licensing costs to initiate exploration, an initial environmental impact assessment, the addition and permitting of an additional 220 square kilometers in the northeast segment of the original license as part of Block VIII, a 350-kilometer 2-D seismic assessment of the concession, and the determination of four drill targets on subbasins within Block VIII.
The Block VIII concession is held in Angkor’s Cambodian subsidiary, EnerCam Resources Co. Ltd., and is administered by Angkor’s wholly-owned EnerCam Exploration Ltd. of Canada.
The terms of the agreement are subject to approval of the TSX Venture Exchange.
Angkor Resources Corp. is a public company listed on the TSX-Venture Exchange and is a resource explorer and developer in Cambodia working towards mineral and energy solutions. Angkor’s Cambodian energy subsidiary, EnerCam Resources Co., Ltd., holds an onshore oil and gas license in Cambodia called Block VIII, covering approximately 4,095 km².
EnerCam is focused on proving Cambodia has its own oil and gas resources. The company completed 2D-seismic in 2025 and has identified multiple drill targets with multiple target zones. It now works to complete an additional Environmental Impact Assessment on the drilling target areas and plans to follow with drilling Cambodia’s first privately financed onshore exploratory oil and gas wells under a Production Sharing Contract.
The company’s mineral subsidiary, Angkor Gold Corp. Co., Ltd., disposed of its Oyadao North license in mid-2025 and currently holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold.
Source: ANGKOR Resources Corp.
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