- Angkor Resources Corp. (ANK) agrees to fund emission capture facilities and implement a carbon capture project in Saskatchewan
- The Evesham Carbon Capture Energy Project captures by-product gas that otherwise vent to the atmosphere from production tanks
- Angkor’s subsidiary, EnerCam Exploration Ltd. has raised funds for the project through private lenders
- The Evesham project shall provide Angkor and EnerCam with 80 per cent of the revenue from netbacks from gas sales
- Angkor Resources Corp. (ANK) is up16.67 per cent trading at $0.105 per share as of 3:29 p.m. EST
Angkor Resources (ANK) has agreed to fund emission capture facilities and implement a carbon capture project in Saskatchewan.
The Evesham Carbon Capture Energy Project captures by-product gas that otherwise vents to the atmosphere from production tanks.
Angkor’s subsidiary, EnerCam Exploration Ltd. has raised funds for the project through private lenders.
Lenders shall receive a percentage of the revenue flowing to EnerCam during the twelve months of 2022.
After which Angkor will purchase out the remaining principal of the loans.
Angkor and Enercam are contributing $300,000 in three tranches to facilitate and commission the project.
The Evesham project shall provide Angkor and EnerCam with 80 per cent of the revenue from netbacks from gas sales.
It will continue to do so until payback of principal and then 40 per cent of sale netbacks thereafter.
The project ties in each tank with an approved high-density piping conduit then collects the gas and removes any water.
Then it cleans, compresses, and transports it to a sales facility for a clean, dry, natural gas.
The Evesham project will capture and channel up to 500,000 cubic feet per day to a facility to provide a clean energy source.
The project will increase as more production wells and collection tanks are tied into the Evesham compressor station.
The existing compressor and collection system has a capacity of up to three million cubic feet per day.
An experienced team is in place at the site and manages all production reporting, operations, and oversight of the project.
Angkor Resources Corp. (ANK) is up16.67 per cent trading at $0.105 per share as of 3:29 p.m. EST.