Angkor Resources Corp. has completed the sale of its 40% participating interest in the Evesham Macklin oil and gas lands in Saskatchewan, receiving all final payments totaling $4.8 million. The transaction, which received conditional approval from the TSX Venture Exchange, was executed through the company's wholly-owned subsidiary EnerCam Exploration Ltd. with 2196231 Alberta Ltd., an arm's length purchaser.
The strategic disposition removes $3.8 million in debt from Angkor's balance sheet while providing $1 million in net proceeds for working capital. Shareholders overwhelmingly supported the transaction at the Annual General and Special Meeting on January 29, 2026, with over 99% of votes cast in favor. As previously announced (ANGKOR RESOURCES SIGNS DEFINITIVE AGREEMENT TO SELL EVESHAM OIL PRODUCTION - Angkor Resources Corp,), the definitive agreement was signed on December 31, 2025.
CEO Delayne Weeks stated that the successful closing allows the company to redirect resources toward its Cambodian onshore Block VIII oil and gas project and mineral exploration programs. "Discovering oil and gas in Cambodia as a new jurisdiction is a country changer," Weeks said. "It brings energy independence to the entire nation, significantly reduces the imports of hydrocarbon based energy, and develops a very significant sector of new skillset development and employment opportunities."
The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering over 4,095 square kilometers in Block VIII. After completing seismic work in 2025, the company has identified multiple drill targets and is advancing environmental assessments and drilling plans for Cambodia's first onshore exploratory wells. Meanwhile, Angkor's mineral subsidiary, Angkor Gold Corp., maintains two exploration licenses for copper and gold prospects in Cambodia.
This transaction represents a significant strategic shift for Angkor Resources as it pivots from mature Canadian assets to higher-potential Cambodian projects. The debt elimination strengthens the company's financial position while the retained capital provides flexibility to advance exploration activities in Southeast Asia. The move aligns with growing investor interest in frontier energy markets and mineral exploration in underdeveloped regions with substantial resource potential.
The company's focus on Cambodia comes at a time when the Southeast Asian nation seeks to develop domestic energy resources to reduce reliance on imports. Successful exploration in Block VIII could transform Cambodia's energy landscape while creating substantial economic opportunities through job creation and skills development. For investors, the transaction reduces financial risk while positioning the company for potential growth through early-mover advantage in an emerging resource jurisdiction.
