Ms. Delayne Weeks reports

ANGKOR RESOURCES' ENERCAM SUBMITS DRILLING CONTRACTOR TENDER TO THE MINISTRY OF MINES AND ENERGY

Angkor Resources Corp.'s Cambodian energy subsidiary, EnerCam Resources Co. Ltd., has sent the terms of its comprehensive drilling contractor tender to Cambodia's Ministry of Mines and Energy (MME) for review. Once reviewed and approved by MME, the tender will be public so that drilling companies can bid to drill the exploratory wells on Block VIII.

The tender sets out the full scope of work the successful drilling contractor will be required to deliver, from bringing the rig and equipment into Cambodia through to testing each well. It follows the Ministry of Environment's approval of EnerCam's environmental impact assessment (EIA) to drill on all four sub-basins, announced on Sept. 30, 2026.

Mike Weeks, president of EnerCam, commented: "This tender puts on paper everything the first wells in Cambodia need to deliver, and that includes the equipment, the drilling, the testing and how we protect the communities around each site. We have already done our due diligence on the contractors, so once the ministry has reviewed the terms we can move quickly to selecting the company that will drill."

Highlights of the 89-page tender include:

• Mobilization: import and mobilization of the drilling rig, pumps, drilling muds, casing, wellheads, and necessary consumables into Cambodia and to each drill site;
• Drilling sequence: one exploration well in each of the four sub-basins -- South Bokor, Central Bokor, North Bokor and Kirirom -- drilled in the order specified by EnerCam's technical team, with a fifth well to be located based on the results of the first four wells;
• Depth and targets: drilling to depths of up to 3,300 metres, targeting a minimum of two potential pay zones at the three Bokor sub-basins, including fractured Permian carbonates below the Indosinian 1 unconformity;
• Completion, logging and testing: logging of each well, and completion and production testing of each well bore that indicates hydrocarbons. Each well is designed to be completed in a full production configuration, flow-tested for four weeks and then shut-in for a 12-week pressure build-up, so that testing gives a definitive answer on the commerciality of the reservoir;
• Social, environmental and governance compliance: adherence to the conditions of the approved EIA within the target areas, including protection of local communities, water and land, the handling of drilling fluids, and restoration of each site if a well is not productive.

Selecting the right contractor

EnerCam has already completed due diligence on multiple potential drilling contractors, so the bid process can move quickly once the tender is public. During 2026, the team made two visits to China to meet three potential drilling service providers, and hosted site visits to Block VIII by two potential drilling contractors to assess the roads, bridges and drill sites against the equipment required. The focus has been on each contractor's capacity to deliver the complete service -- rigs, crews, logging and testing equipment -- to international standards.

Drilling contractors are selected through a tendered bid that is first approved by MME and then published in various media outlets. EnerCam is targeting bid selection in early 2027. Mobilizing the drilling equipment to the sites takes approximately three months once a drilling contractor is selected.

Setting the standard for Cambodia's onshore sector

As Cambodia's first onshore oil and gas wells, the Block VIII wells will provide the first direct well data from the onshore basins targeted by EnerCam. Getting the most out of every well -- the logs, the flow tests and the pressure data -- is essential to building an onshore energy sector for the nation. The program also sets a precedent for how onshore wells are permitted, contracted and drilled in Cambodia as the sector develops.

Members of EnerCam's drilling team, including drilling manager John Koch, have designed and built oil and gas drill programs and drill sites in over 60 countries. That experience brings current global practice and technology to Block VIII, so that Cambodia can move directly to modern standards rather than repeating decades of past practice seen elsewhere in the world.

EnerCam has completed 350 line kilometres of 2-D seismic and defined drill targets across four sub-basins. Block VIII covers approximately 4,095 square km in the southwest quadrant of Cambodia under a 30-year production sharing contract with the Royal Government of Cambodia.

As Cambodia imports 100 per cent of its hydrocarbon-based energy products, discovering a national domestic supply of oil and gas remains a high priority.

The company will continue providing further updates on the drilling tender, drilling contractors and well-planning progress at regular intervals.

About Angkor Resources Corp.

Angkor Resources is a public company, listed on the TSX Venture Exchange, and is a leading resource explorer and developer in Cambodia working toward mineral and energy solutions across the country. The company's mineral subsidiary, Angkor Gold Corp. Co. Ltd., currently holds two mineral exploration licences in Cambodia with multiple prospects in copper and gold. Both licences are in their first two-year renewal term.

Angkor's Cambodian energy subsidiary, EnerCam Resources Co. Ltd., was granted an onshore oil and gas licence in the southwest quadrant of Cambodia called Block VIII. The licence covers an area of approximately 4095 square kilometres. EnerCam is actively advancing oil and gas exploration activities onshore to meet its mission to prove Cambodia as a nation with its own oil and gas resources. The company completed 2-D-seismic in 2025 and has identified multiple drill targets with multiple target zones. The company plans to follow with drilling Cambodia's first privately financed onshore exploratory oil and gas wells under a production sharing contract.

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