Angkor Resources Identifies First Drill Target in Cambodia Oil Exploration Program

Angkor Resources Corp. has received preliminary data from its seismic program in Cambodia's Block VIII that reveals a substantial geological structure with potential for oil and gas accumulation. The company's subsidiary, EnerCam Resources Co. Ltd., has identified what appears to be a significant anticline structure in the South Bokor Basin, named the "South Bokor Lead," which management has confirmed as the first drill target from the seismic program.

Keith Edwards, Technical Manager of EnerCam, described the discovery as "a preliminary view of what appears as a substantial structure in the most southerly South Bokor Basin." The anticline structure shows approximately 48 square kilometers of closure and is located between 900-1500 meters from the surface. The company expects to complete seismic processing and integrated geological interpretation by November to confirm internal structures.

The significance of this discovery lies in Cambodia's current energy landscape. The country currently imports all its hydrocarbon-based energy products, spending several billion dollars annually according to data from https://oec.world/en/profile/country/khm. EnerCam's mission is to discover Cambodia's first commercial onshore oil and gas, which would dramatically reduce the nation's energy import dependency.

Mike Weeks, President of EnerCam, emphasized the importance of this development, stating that "proving there is commercial oil and gas in Cambodia starts with seismic giving us sufficient information to determine drill targets." He noted that with no history of onshore drilling in Cambodia, the process of determining the best targets takes longer, but the identification of this anticline with four-way closure provides the foundation for building a robust exploration program.

The seismic program covered 24 lines across three provinces and employed 38 Khmer residents along with 15 contractors from Thailand using EnviroSeis equipment. Edwards praised the local team, saying "The Khmer teams were amazing, happy to learn and accomplished the work, despite the challenges."

Professional geologist Justin Snelling provided technical analysis of the seismic data, noting that preliminary views show "mostly sub-parallel bedded" seismic reflections with features suggesting "a thick sealing mudstone band which can form a good seal just above the mapped surface." The reflections within the anticline show discontinuous, structurally complex patterns with higher amplitudes, indicating potential for significant reservoir rock development.

However, company officials caution that drilling remains the only way to confirm the presence of hydrocarbons. As Snelling explained, "Until the structure is drilled however, and actual petrophysical data gathered, there is no way to know what the composition of these rocks might be, nor that of any hydrocarbon fluids which may have been trapped within this four-way closure."

The company continues to process and interpret data from the remaining three subbasins covered by the seismic program, with additional data expected by late October. The complete interpretation by year-end will determine whether the company can plan a multi-hole exploratory drill program for next year, potentially marking a historic step in Cambodia's energy independence journey.