GRANDE PRAIRIE, ALBERTA – (August 4, 2026): ANGKOR RESOURCES CORP. (TSXV: ANK) (“ANGKOR” OR “THE COMPANY”) announces that senior representatives of its Cambodian energy subsidiary, EnerCam Resources Co., Ltd. (“EnerCam”), recently met with executives of Baron Point Financial Group SPC (“Baron Point”) and its portfolio company, Clean Processing & Blending Facility Co., Ltd., doing business as Cambodian National Refinery Systems™ (“CNRS™”), to discuss the potential for in-country purchase, refining and distribution of future oil and gas production from EnerCam’s Block VIII concession in southwest Cambodia. Baron Point’s location is less than 50 kilometers south of Block VIII over flat terrain and with major highway connections making product transportation via road or pipeline easily accessible.
EnerCam was represented by Mike Weeks, President, and Mads Braemer CFO, Baron Point by Martin John McCarthy, CEO and Andrew Sullivan, VP Business Development, APAC. Discussions centred on the commercial logic of pairing domestic upstream production with domestic downstream capacity, should EnerCam’s planned exploratory drilling program result in a commercial discovery.
Under the terms of its 30-year Production Sharing Contract over the 4,095 km² Block VIII license, EnerCam controls the sale of oil and gas produced from the concession. CNRS™ is developing first-of-its-kind refining and processing capacity in Cambodia and maintains established regional trading, logistics and distribution relationships across the Indochina energy value chain. A domestic offtake arrangement would allow Cambodian-produced crude to be refined, value-added, marketed and distributed within Cambodia for both domestic consumption and export, rather than being exported as unprocessed crude.
Mike Weeks, President of EnerCam, commented, “Cambodia currently imports all of its refined petroleum products. If our drilling program is successful, the most logical outcome for the country — and for our shareholders — is that Cambodian oil is purchased, refined and sold in Cambodia. CNRS™ has the downstream capability and the regional market access to make that work. These were preliminary discussions, but they were the right ones to be having now, well ahead of first production.” Martin John McCarthy, Partner and CEO of Baron Point, added, “CNRS will be ideally placed to process, or store for export, any production from EnerCam’s drilling program, and the timing fits closely with our own development program.”
Both parties agreed to continue discussions as EnerCam advances toward drilling. Any offtake arrangement would be contingent on, among other things, a commercial hydrocarbon discovery on Block VIII, applicable regulatory and government approvals, and agreement on commercial terms. Discussions are preliminary and there can be no guarantee an agreement will be reached.
EnerCam’s Environmental Impact Assessment covering the Block VIII drill target areas has been submitted to Cambodia’s Ministry of Environment for review and approval. The Company has defined a 4+1 drilling program contemplating one exploratory well in each of the Bokor South, Bokor Central, Bokor North and Kirirom sub-basins, followed by a fifth well to be located based on the results of the first four.
CNRS™ is a Baron Point portfolio company, and today Baron Point is a leading firm in the institutional investment business in Indochina, with merchant banking and capital formation capabilities, globally. Through its Energy & Chemicals Group, Baron Point's portfolio company CNRS™ is a regional participant in the Indochina energy sector, bringing more than 150 years of combined leadership and partner experience across commodity trading, supply chain management, logistics, structured transactions and risk management. CNRS™ is positioned to support Cambodia's move into midstream and downstream oil and gas activity, including refining, processing and blending.
ABOUT ANGKOR RESOURCES CORP.
ANGKOR Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource explorer and developer in Cambodia working towards mineral and energy solutions across the country. The Company's mineral subsidiary, Angkor Gold Corp. Co., Ltd., currently holds two mineral exploration licenses in Cambodia with multiple prospects in copper and gold. Both licenses are in their first two-year renewal term.
Angkor’s Cambodian energy subsidiary, EnerCam Resources Co., Ltd., was granted an onshore oil and gas license in the southwest quadrant of Cambodia called Block VIII. The Company removed all parks and sensitive areas from the original 7,300 km² license and now Block VIII is approximately 4,095 km².
EnerCam is actively advancing oil and gas exploration activities onshore to meet its mission to prove Cambodia as a nation with its own oil and gas resources. The Company completed 2D-seismic in 2025 and has identified multiple drill targets with multiple target zones. Following the identification of drill targets, the Company completed an additional Environmental Impact Assessment on the drilling target areas, which is now submitted for approval by the Ministry of Environment. the Company plans to follow with drilling Cambodia’s first privately financed onshore exploratory oil and gas wells under a 30-year signed Production Sharing Contract.
CONTACT: Delayne Weeks - CEO
Email:- info@angkorresources.com Website: angkorresources.com Telephone: +1 (780) 831-8722
Please follow @AngkorResources on LinkedIn, Facebook, Twitter, Instagram and YouTube.
For more on Baron Point visit:
https://www.linkedin.com/company/baron-point-financial
or email todd.hollander@baronpoint.com
For more on CNRS™ visit:
or email martin.mccarthy@cnrsplc.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to oil and gas risks of the seismic interpretation uncertainty and the preliminary nature of structural closure estimates; drilling risk and the absence of a drilled well on the Concession; reservoir and fluid uncertainty; PSC compliance obligations and the risk of relinquishment for non-performance; oil price exposure; and Cambodia-specific sovereign and regulatory risk.
As well, additional uncertainties on the mineral projects exist regarding the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing.
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
