Angkor Resources Advances Cambodia's First Onshore Oil and Gas Exploration with 2026 Drilling Plans

Angkor Resources Corp. has announced plans for exploratory oil and gas drilling on Block VIII in Cambodia following the completion of approximately 350-line kilometres of 2-D seismic surveys. The seismic data has identified at least three significant closed anticlines in both the South Bokor and Central Bokor sections, with one structure in Central Bokor potentially larger than currently imaged due to limited seismic coverage in that area of the sub-basin.

CEO Delayne Weeks expressed confidence in the findings, stating that even with only half the seismic interpretation completed, the company is committed to drilling multiple exploratory wells in 2026. The structures identified are of sufficient quality and size to warrant testing, with drilling being the only method to prove Cambodia's first onshore oil and gas resource. According to technical advisor Dr. David Johnson, the discovery of anticlines with four-way closures of over 48 square kilometres and 60 square kilometres respectively in a large sedimentary basin with indications of a working hydrocarbon system is particularly significant given these structures have never been drilled before.

The evidence supporting a working hydrocarbon system includes multiple legacy and newly discovered surface live oil seeps located within each of these sub-basins and adjacent areas. Seismic data reveals a potential thick ribbon-like top seal appearing in multiple sections as a thick layer with clear, continuous reflectors consistent with mudstone and lower energy depositional environments. Underlying this, a potential reservoir-bearing section presents as a thick succession of semi-continuous higher amplitude reflectors with cross-cutting characteristics consistent with higher energy siliciclastic environments or possible carbonate facies development.

Johnson noted that while seismic processing and interpretation continues, the rock volume estimates are substantial, with a single one-meter thickness reservoir zone under proven four-way closure measuring 48 million and 60 million cubic metres respectively. There are indications of what geophysicists refer to as Direct Hydrocarbon Indicators (DHIs), and potential for multiple layers of reservoir strata, satisfying essential requirements for significant hydrocarbon accumulation beneath the closed sealing formation cap layer. Current work focuses on better understanding the potential hydrocarbon system and reducing risks associated with reservoir quality, seal integrity and source quality.

Management is advancing operational preparations, including sourcing suitable oil and gas drilling rigs and all supporting equipment and ancillary services to bring into Cambodia for what will represent the nation's first onshore wells. Concurrently, the technical team is working to improve signal-to-noise data over each processed seismic line as it becomes available to develop a stronger and broader picture of Block VIII's potential. The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering just over 4270 square kilometres in southwest Cambodia after removing parks and protected areas from the original 7300 square kilometre Block VIII concession.