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Angkor Resources Increases its Interest to 75% on Block VIII Oil & Gas License in Cambodia
(TheNewswire)     GRANDE PRAIRIE, ALBERTA – TheNewswire - April 28, 2026...
About this update from Angkor Resources Corp.
[{"type":"text","content":"Angkor Resources Increases its Interest to 75% on Block VIII Oil & Gas License in Cambodia\n(TheNewswire)\n\n\n \n \n\n\nGRANDE PRAIRIE, ALBERTA –\nTheNewswire - April 28, 2026 - ANGKOR RESOURCES CORP.\n(TSXV: ANK) (“ANGKOR”). Angkor announces its energy subsidiary, EnerCam Exploration Ltd.\n(“EnerCam”) has entered into an Amended and Re-Stated Joint\nStrategic Alliance Agreement (the \"Agreement\") with 358140\nAlberta Ltd. (\"358\") to increase Angkor’s ownership\ninterest from 20% to 75% in the Block VIII oil and gas concession in\nCambodia.  \n\n\n \n\n\nThe fundamental terms of the Agreement provide that\nAngkor's interest in the 4,095 square kilometre Block VIII\nconcession will increase from 20% to 75% by assuming the\nresponsibility of funding the drilling program and making a payment of\nUSD2 million to 358 by no later than June 30, 2026. The Agreement also\nprovides Angkor with the option to make the USD2 million payment by\nissuing common shares to 358, with the issuance price of the shares to\nbe the 30 days' volume-weighted average trading price prior to\nthe payment date, subject to approval of the TSX. On completion of the\ndrilling program, the Block VIII interests will convert to a working\ninterest and 358 will be obligated to contribute its 25% of\ndevelopment costs after all drilling has been completed.\n\n\n \n\n\n“This is a positive deal for both companies but\nespecially benefits EnerCam / Angkor and its shareholders by\nincreasing our interest substantially to 75%”, says Mike Weeks,\nPresident of EnerCam.  \"With funding from 358 at the very early\nhigh-risk stages, 358 took on the greatest risk  to our benefit; 358\nmade it possible for EnerCam/Angkor to advance the license, and now we\nhave drill targets and hold a 75% interest as we move towards\ndrilling.  358 keeps its involvement with a working interest and we\njave the option to convert 358’s ownership investment into shares of\nAngkor.  \n\n\n \n\n\nWith 358’s financial contributions to date exceeding\nCAD 3.6 million, EnerCam was able to undertake \n\n\nand complete:\n\n\n1) final licensing costs to initiate exploration,\n\n\n\n2) an Initial Environmental Impact Assessment, \n\n\n3) the addition and permitting of an additional 2...