Angkor Resources Seeks Expansion of Oil & Gas Exploration in Cambodia

The latest update is out from Angkor Gold ( (TSE:ANK) ).

Angkor Resources Corp.’s subsidiary, EnerCam Resources, is seeking to expand the boundary of its oil and gas exploration area in Cambodia’s Block VIII by an additional 220 square kilometers, following promising hydrocarbon potential in the proposed ‘Mussel Basin.’ The expansion aims to include this area in the upcoming seismic program, with a positive response expected from Cambodian authorities. Meanwhile, mineral drilling activities in Cambodia’s northwest were temporarily suspended due to border conflicts, but are set to resume following a ceasefire agreement.

Spark’s Take on TSE:ANK Stock

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

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 a carbon capture and gas conservation project in Saskatchewan, Canada, and holds mineral exploration licenses in Cambodia through its subsidiary Angkor Gold Corp. Its energy subsidiary, EnerCam Resources, holds an onshore oil and gas license in Cambodia’s Block VIII.

Average Trading Volume: 37,037

Technical Sentiment Signal: Buy

Current Market Cap: C$33.79M

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