Angkor Resources wins oil, gas exploration licence in Cambodia
Toronto-listed Angkor Resources on October 3 said its energy subsidiary, EnerCam Resources Corp. (Cambodia) Co., has received the licence for exploration, development, and production on Block VIII onshore Cambodia.
Initial reconnaissance over the license area indicates a sedimentary foreland basin. “Geologists performing on-the-ground reconnaissance found numerous oil seeps and gas seeps across the targeted areas,” the company said.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Initial phases of exploration on Block VIII will include the acquisition of available seismic, which will then have a comprehensive analysis completed. Preliminary magnetics on the targeted areas will also be part of the first phase work plan.
The licensed area is in the southwest corner of Cambodia. The licence is for an initial three-year exploration term and two further renewal terms of two years each. Development and production terms are for 25 years with additional renewals.