Core Points - Angkor Resources Corp. has signed a service agreement with Departures Capital Inc. for a targeted digital marketing and investor outreach campaign [1][2] - The campaign aims to enhance Angkor's visibility in the global investment community through various digital initiatives [2] - The total contract value for the services is US$25,000, payable in advance [3] Company Overview - Angkor Resources Corp. is a public company listed on the TSX-Venture Exchange, focusing on mineral and energy solutions in Cambodia and Canada [3] - The company's Cambodian energy subsidiary, EnerCam Resources, holds an onshore oil and gas license covering over 4,095 square kilometers [4] - EnerCam is actively engaged in oil and gas exploration in Cambodia, aiming to establish the country as an oil and gas producer [4] Environmental Commitment - Angkor's Canadian subsidiary, EnerCam Exploration Ltd., is involved in oil and gas production in Saskatchewan and has initiated carbon and gas capture projects [5] - The carbon capture initiative is part of Angkor's long-term commitment to environmental and social projects, promoting cleaner energy solutions [5] Mineral Exploration - Angkor Gold Corp., the mineral subsidiary of Angkor, holds two mineral exploration licenses in Cambodia, focusing on copper and gold prospects [6]

Core Viewpoint - The company is focused on overseas acquisitions, with a significant production foothold in the Netherlands, positioning itself as the largest producer in the region, excluding the state company EBN [2] Group 1: Corporate Overview - The company has completed two major transactions this year, including the acquisition of NAM Offshore (now TEN) and a non-operated interest in the GEMS project [2] - The market capitalization before the GEMS transaction was approximately CAD 575 million, and post-transaction, the company will have over $400 million in debt, an increase from $100 million prior to the deal [3] Group 2: Production and Financial Guidance - Pro forma production for 2025, assuming ownership of both GEMS and NOBV assets for the entire year, is projected to be 16,200 BOE/D [3] - The estimated drilling and development capital expenditures (CapEx) for the year are between CAD 100 million and CAD 110 million, accounting only for CapEx after the closing dates of the transactions [3]

Financial Data and Key Metrics Changes - Average production increased by 3% to 3,220 BOE per day compared to 3,128 in the prior year quarter, attributed to wells drilled and completed in the last six months of 2024 [7] - Net revenue decreased by 22% to $10.8 million compared to the prior year quarter due to a 24% decrease in average prices and lower oil production from shut-in wells [8] - Adjusted EBITDA was $7.7 million, a decrease of 23% from $10 million in the prior year quarter, primarily due to lower prices [8] - Net income was $2.9 million with basic EPS of $0.08 per share, down from $4.1 million or $0.11 per share in the prior year quarter [9] - Year-to-date average production increased by 13% to 3,646 BOE per day compared to 3,216 in the prior year period [10] - Year-to-date net income was $8.6 million with basic EPS of $0.24 per share, up from $7.4 million and $0.21 per share in the prior year period [10] Business Line Data and Key Metrics Changes - Production from the field was strong, with over 3,200 BOE per day despite temporarily shutting in about 540 BOE per day for well completions [5] - Operating expenses remained low at approximately $7.15 per BOE [5] - The company brought on four Lovina wells with high oil percentages, which are still cleaning up fracture stimulation fluid [5] Market Data and Key Metrics Changes - The company experienced a 24% decrease in average prices, impacting net revenue significantly [8] - The net back from operations decreased to $29.66 per BOE compared to $40.40 in the prior year quarter due to lower average prices [9] Company Strategy and Development Direction - The company plans to bring on nine new wells in the second half of the year, anticipating significant increases in production and cash flow [12] - There is an ongoing strategy to return capital to shareholders through share buybacks, with approximately 130,000 shares purchased in July [14] - The company aims to continue building and growing value for shareholders while actively participating in conferences and presentations to enhance visibility [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate good returns even in a $60 oil price environment, indicating a commitment to proceed with drilling plans [17][18] - The management is optimistic about the performance of the new wells and their impact on cash flow, especially following the completion of the last wells in December 2024 [13] Other Important Information - The company's credit facility was redetermined, increasing the borrowing base by 30% from $50 million to $65 million, providing more flexibility in managing working capital [11] Q&A Session Summary Question: Thoughts on original production guidance for the year given the timing of the Laveena wells - Management will monitor production and adjust guidance if necessary, depending on well performance and price conditions [16] Question: Any changes to near-term capital allocation plans due to oil price environment - Currently, the company plans to proceed with drilling as the economics of the wells remain favorable, but they have the option to delay completions if prices drop significantly [17][18] Question: Insights on the higher liquids content from the Laveena wells - The higher liquids content was encouraging and slightly better than anticipated, which may influence future drilling and completion strategies [19][21] Question: Status on the Fortis and East Side acreage - It is too early to provide insights, but initial completions went well, and the company is awaiting flowback results [23]

Group 1 - Shell plc has entered into an agreement to purchase TotalEnergies' 12.5% non-operating interest in the Bonga field in Nigeria for $510 million [1][2] - The Bonga field is part of the OLM118 production sharing contract, which Shell operates with a 55% stake, while TotalEnergies and Nigerian Agip Exploration each hold a 12.5% interest [2][3] - TotalEnergies is optimizing its upstream portfolio by divesting less competitive assets and focusing on projects with lower technical costs and emissions [4] Group 2 - Shell is shifting its focus from onshore operations in Nigeria to deepwater projects, having divested its onshore subsidiary to Renaissance [5][6] - The divestment included a 30% stake in the SPDC joint venture, which is now majority-owned by the Nigerian National Petroleum Corporation [6] - The acquisition of TotalEnergies' interest aligns with Shell's strategy to concentrate on deepwater and offshore operations in Nigeria [6]