Angkor Resources Advances Seismic Program for Cambodia’s First Onshore Oil Well

An update from Angkor Gold ( (TSE:ANK) ) is now available.

Angkor Resources Corp.’s subsidiary, EnerCam Resources, is advancing its 2-D seismic program for the first onshore oil and gas well in Cambodia’s Block VIII. The project involves collaboration with Cambodia’s Ministry of Mines and Energy (MME) through a joint review committee, ensuring that exploration activities meet specific conditions. The seismic program, which exceeds US$500,000, is contingent on the completion and approval of an Environmental Impact Assessment (EIA). EnerCam is taking measures to minimize environmental impact by utilizing existing roadways and ensuring UXO clearance. This initiative marks a significant step in Cambodia’s energy sector, potentially enhancing Angkor’s industry positioning and stakeholder engagement.

Spark’s Take on TSE:ANK Stock

According to Spark, TipRanks’ AI Analyst, TSE:ANK is a Neutral.

Angkor Gold’s overall score reflects significant financial difficulties, including no revenue generation, high leverage, and negative cash flows. While technical indicators show some upward momentum, the lack of profitability and dividends impacts its valuation. Recent corporate developments suggest potential growth opportunities, but financial challenges remain a primary concern.

To see Spark’s full report on TSE:ANK stock, click here.

More about Angkor Gold

Angkor Resources Corp. is a public company listed on the TSX-Venture Exchange, focusing on mineral and energy solutions in Canada and Cambodia. It operates through its subsidiaries, Angkor Gold Corp. and EnerCam Resources, with projects in mineral exploration and onshore oil and gas in Cambodia, as well as carbon capture and gas conservation in Saskatchewan, Canada.

YTD Price Performance: 85.00%

Average Trading Volume: 110,744

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$34.12M

For a thorough assessment of ANK stock, go to TipRanks’ Stock Analysis page.