ANK:CC - Angkor Increases Capture of Flared and Vented Emission Gas
(TheNewswire)
GrandePrairie, Alberta - TheNewswire- September 26, 2023 - Angkor Resources Corp. (TSXV:ANK ) and ( OT C :ANKOF) (“Angkor” or the “Company”) a nnounces the expansion plans to increasethe capture of flared and vented emissions at Evesham,Saskatchewan.
The Project, which was undertaken by the Company’senergy subsidiary EnerCam Exploration Ltd. (EnerCam) in partnershipwith Saskatchewan operators, Eyehill Creek Exploration Ltd. (Eyehill),is advancing to capture emissions from surrounding oil productionwells that are flaring or venting gases to the atmosphere.
Initially the project focused on the immediate gaswells within the ‘Eyehill’ project area and its 26 producingwells. With those wells connected to the gas plant, the team is nowsourcing additional wells from other production companies that areventing or flaring their gas to the atmosphere. By adding moreconnecting pipeline, more emissions can be captured and processed intothe provincial sales distribution network.
“Our goal is to expand the gas capture to threemillion cubic feet per day, the current plant capacity” explainsMike Weeks, President of EnerCam. “The limitation is not withthe facility, but rather Saskatchewan’s lack of infrastructure ofconnecting pipelines from well sites that are still flaring andventing gases. Reaching out to other producers is a prudent step totake to capture more emissions and results in positive environmentalsolutions to the continuing need of energy.”
Multiple variables impact the economics for gas butusing $2.50/MCF (thousand cubic feet), projections indicate:
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500,000 cubic feet/day at $2.50/MCF generatesapproximately $25,000 net proceeds per month
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2,000,000 cubic feet/day at $2.50/MCF generatesapproximately $130,000 net proceeds per month
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3,000,000 cubic feet/day at $2.50/MCF generatesapproximately $190,000 net proceeds per month
Over the past two months, Eyehill also added a secondwater disposal location which allows for increased production of bothoil and gas from the selected wells.
Weeks describes the process, “Each well produces oil,water, and gas. We must manage reinjecting the right quantities ofwater back into the ground, so the project creates the best productivecycle. By adding a second water disposal well, we can maximize theoil and gas coming from the wells because the process will no longerbe limited by the water handling capabilities. This will allow us to capture more emissions while also generatingbetter oil and gas results”.
The team expects to see the results in improved cashreturns 60 days after these adjustments, which were completed inAugust. EnerCam receives 40% of the proceeds from gas sales afterstartup costs and workovers have been repaid.
EnerCam continues to seek additional solutions andniche markets to reduce emissions and improve energy creation.
ABOUT ANGKOR RESOURCESCORPORATION:
Angkor Resources Corp. is a publiccompany, listed on the TSX-Venture Exchange, and is a leading resourceoptimizer in Cambodia working towards mineral and energy solutionsacross Canada and Cambodia. Angkor’s carbon capture and gasconservation project in Saskatchewan, Canada is part of its long-termcommitment to Environmental and Social projects and cleaner energysolutions across expanding jurisdictions. Angkor’s carbon captureand gas conservation project in Saskatchewan, Canada proves itslong-term commitment to Environmental and Social projects acrossexpanding jurisdictions. The company holds three mineral explorationlicenses in Cambodia and its subsidiary, EnerCam Resources, wasgranted an onshore oil and gas license of 7300 square kilometers inthe southwest quadrant of Cambodia.
CONTACT:
Delayne Weeks -CEO
Email: info@angkorresources.com Website: angkorresources.com Telephone: +1 (780)831-8722
Please follow @AngkorResources on , , , Instagram and .
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
Certain information set forth in thisnews release may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Theseforward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of the Company,including, but not limited to the potential for gold and/or otherminerals at any of the Company’s properties, the prospective natureof any claims comprising the Company’s property interests, the impact of generaleconomic conditions, industry conditions, dependence upon regulatoryapprovals, uncertainty of sample results, timing and resultso f future exploration, andthe availability of financing. Readers are cautioned that theassumptions used in the preparation of such information, althoughconsidered reasonable at the time of preparation, may prove to beimprecise and, as such, undue reliance should not be placed onforward-looking statements.
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