Energy Production Project Evesham Macklin Receives Approval for Waterflood Procedures at Evesham Site
Angkor Resources Corp. (TSXV: ANK and OTCQB:ANKOF) ("ANGKOR" or the "Company") announces that the Saskatchewan Ministry of Energy and Resources ("SMER") has issued an enhanced oil recovery approval for the Macklin Sparky field. The approval authorizes immediate conversion of three suspended well locations to water injection; further conversions for water injection will be authorized as needed. Angkor and its subsidiary, EnerCam Exploration Ltd. ("EnerCam"), contribute 40% of the capital costs and operating for additional well conversions under their agreement. The waterflood approval allows for enhancing reservoir pressure support and could double the oil recovery from the field over time. The approval allows for 12 months to implement the three approved sites to be converted from suspended oil producers to water injection. The first conversion will be underway mid-April with subsequent wells to follow.
By carefully balancing reservoir injection with production, we can optimize and create more sustainable production. Having our own water trucks and operators are two big advantages and adding more production capability helps to improve the overall project.
The Evesham/Macklin Production Project, of which 40% was acquired by EnerCam on Dec. 12th, 2023 included the oil production from 33 vertical wells and a Gas Capture facility and all related pipelines, water disposal wells, water trucking equipment, etc.
On the additional costs for waterflood procedures, CEO Delayne Weeks comments, "By investing in the waterflood now, we expect to increase production and improve the financial performance over the next several months.
Jamie Carlson, P.Eng., is the Practicing Professional Engineer responsible for reviewing and approving the data contained in this press release.
ABOUT ANGKOR RESOURCES CORPORATION:
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer working towards mineral and energy solutions across Canada and Cambodia. Angkor's carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across expanding jurisdictions. The company holds three mineral exploration licenses in Cambodia and its subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia.
CONTACT: Delayne Weeks - CEO
Email: info@angkorresources.com Website: angkorresources.com Telephone: +1 (780) 831-8722
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