Angkor Resources Corp. has completed the sale of its 40% participating interest in the Evesham Macklin oil and gas lands in Saskatchewan, with all final payments received and deposited. The transaction, which received conditional approval from the TSX Venture Exchange, was executed through the company's wholly-owned subsidiary, EnerCam Exploration Ltd., with 2196231 Alberta Ltd. as the purchaser.
The definitive agreement, originally announced on January 5, 2026, as detailed in the press release ANGKOR RESOURCES SIGNS DEFINITIVE AGREEMENT TO SELL EVESHAM OIL PRODUCTION - Angkor Resources Corp, involved a total purchase price of $4,800,000. Payments included a $250,000 non-refundable deposit paid on December 19, 2025, a $375,000 payment on January 30, 2026, the balance of a $3,800,000 loan applied at closing, and a final $375,000 payment received on March 1, 2026. All profit entitlements and operating commitments after October 1, 2025, have accrued to the purchaser.
This strategic disposition removed $3,800,000 in debt from Angkor Resources' books and provided $1,000,000 in net proceeds. Shareholders overwhelmingly supported the transaction, with over 99% of votes cast in favor at the Annual General and Special Meeting held on January 29, 2026.
CEO Delayne Weeks stated that the successful closing allows the company to focus resources on advancing its Cambodian onshore Block VIII oil and gas project and mineral exploration programs. Weeks emphasized that discovering oil and gas in Cambodia as a new jurisdiction would bring energy independence to the nation, reduce hydrocarbon energy imports, and create significant skillset development and employment opportunities.
The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering over 4,095 square kilometers in Block VIII. Following seismic work completed in 2025, the company has identified multiple drill targets and is advancing an Environmental Impact Assessment and drilling plans for Cambodia's first onshore exploratory wells. Meanwhile, Angkor's mineral subsidiary, Angkor Gold Corp., holds two exploration licenses in Cambodia with copper and gold prospects.
This transaction represents a significant shift in Angkor Resources' strategic focus from established Canadian assets to emerging opportunities in Cambodia. The debt elimination strengthens the company's financial position while the net proceeds provide working capital to accelerate exploration activities that could transform Cambodia's energy landscape and create substantial value for shareholders.
