Angkor Resources Corp. Explores Domestic Oil Refining and Distribution Partnership in Cambodia
GRANDE PRAIRIE, ALBERTA — August 4, 2026 — Leads & Copy — ANGKOR RESOURCES CORP. (TSXV: ANK) announced that senior representatives from its Cambodian energy subsidiary, EnerCam Resources Co., Ltd. (“EnerCam”), recently met with executives of Baron Point Financial Group SPC and its portfolio company, Clean Processing & Blending Facility Co., Ltd. (doing business as Cambodian National Refinery Systems™, or “CNRS™”). The discussions focused on the potential for purchasing, refining, and distributing future oil and gas production from EnerCam’s Block VIII concession in southwest Cambodia within the country.
EnerCam was represented by its President, Mike Weeks, and CFO, Mads Braemer. Baron Point was represented by CEO Martin John McCarthy and VP Business Development, APAC, Andrew Sullivan. The meeting explored the commercial advantages of aligning domestic upstream production with domestic downstream capacity, contingent upon EnerCam’s planned exploratory drilling program yielding a commercial discovery.
Under the terms of its 30-year Production Sharing Contract for the 4,095 km² Block VIII license, EnerCam holds the rights to sell oil and gas produced from the concession. CNRS™ is developing refining and processing capabilities in Cambodia and possesses established regional trading, logistics, and distribution networks across the Indochina energy value chain. A domestic offtake agreement would enable Cambodian crude oil to be refined, have value added, and then marketed and distributed within Cambodia for both domestic consumption and export, rather than being exported as unprocessed crude.
“Cambodia currently imports all of its refined petroleum products,” said Mike Weeks, President of EnerCam. “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 have agreed to continue discussions as EnerCam progresses towards drilling. Any offtake arrangement would be subject to conditions including a commercial hydrocarbon discovery on Block VIII, necessary regulatory and government approvals, and the agreement on commercial terms. The discussions are preliminary, and there is no guarantee that an agreement will be reached.
EnerCam has submitted its Environmental Impact Assessment for the Block VIII drill target areas to Cambodia’s Ministry of Environment for review and approval. The Company has outlined a 4+1 drilling program, which includes one exploratory well in each of the Bokor South, Bokor Central, Bokor North, and Kirirom sub-basins, with a fifth well to be located based on the results of the initial four. CNRS™ is a portfolio company of Baron Point, which is described as a leading firm in the institutional investment business in Indochina with global merchant banking and capital formation capabilities. Through its Energy & Chemicals Group, Baron Point’s CNRS™ is involved in the Indochina energy sector, bringing extensive experience in commodity trading, supply chain management, logistics, structured transactions, and risk management. CNRS™ is positioned to support Cambodia’s expansion into midstream and downstream oil and gas activities.
ANGKOR Resources Corp. is a public company listed on the TSX-Venture Exchange, focusing on resource exploration and development in Cambodia. The Company’s mineral subsidiary, Angkor Gold Corp. Co., Ltd., holds two mineral exploration licenses in Cambodia. EnerCam Resources Co., Ltd., Angkor’s energy subsidiary, was granted an onshore oil and gas license, Block VIII, in southwest Cambodia, covering approximately 4,095 km² after sensitive areas were removed. EnerCam has completed 2D-seismic in 2025, identified multiple drill targets, and submitted an Environmental Impact Assessment for the drilling target areas for approval. The company plans to drill Cambodia’s first privately financed onshore exploratory oil and gas wells under a 30-year Production Sharing Contract.
Source: ANGKOR RESOURCES CORP.
Share this story:
