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Angkor Resources Signs Letter of Intent to Sell Evesham Oil Production
(TheNewswire) GRANDE PRAIRIE, ALBERTA – TheNewswire - December 15, 2025 - AN...
About this update from Angkor Resources Corp.
[{"type":"text","content":"Angkor Resources Signs Letter of Intent to Sell Evesham Oil Production\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n GRANDE PRAIRIE, ALBERTA –\n \n\n TheNewswire -\n \n\n December 15, 2025 - ANGKOR RESOURCES CORP.\n(TSXV: ANK) (“ANGKOR” OR “THE COMPANY”)\n \n\n\n\n is pleased to announce that it has\nentered into a binding Letter of Intent (\"LOI\") with an\narm's length party (the \"Purchaser\") to sell its 40%\nparticipating interest in the Evesham Macklin oil and gas lands (the\n\"Assets\") in Saskatchewan at a sale price of $4,800,000. The\nsale of the Assets is anticipated to be completed on January 31, 2026\n(the \"Closing Date\").\n \n\n\n\n The Assets were acquired by the Company through its\nwholly owned-subsidiary EnerCam Exploration Ltd. on December 12, 2023\nand the Purchaser provided a loan (the \"Loan\") to fund the\nacquisition. The outstanding amount of the Loan is $3,800,000.\n \n\n\n\n\n CEO Delayne Weeks comments on the\ndecision to sell the Assets, “This decision follows a full analysis\nover the greatest value increases for shareholders in the coming 24\nmonths.  In our view, the greatest growth value of Angkor will be\nachieved on proving Cambodia’s first oil and gas discovery and the\nsecond will be on advancing assays and drilling on both gold and\ncopper projects, either by ourselves or with strong partners.  \nEvesham is a great project, but it is a long-term multi-well field\nwhich requires more investment capital for water injection and ongoing\ncapital upgrades.  Therefore, we will take the net sale proceeds from\nthe sale of the Assets and apply the funds directly to packaging the\noil and mineral projects in Cambodia for a sale or merger opportunity\nand other administrative operations. “\n \n\n\n\n\n Transaction Summary\n \n\n\n\n The terms of the LOI provide that the purchase price\nshall be satisfied by the Purchaser under the following payment terms:\n(a) a $250,000 non-refundable deposit is payable on December 31, 2025\nafter expiry of the Purchaser's due diligence condition; (b) a\npayment of $375,000 is payable on the Closing Date; (c) the balance of\nthe Loan will be applied to the purchase price on the Closing Date;\nand (d) a final payment of $375,000 subject to adjustme...