 Welcome back everyone. I'm Peter Clausi and this is Investor Intel. Just when you think you know everything, it turns out you don't know what you don't know. And today, we're going to be talking with Ankur Resources and Stephen Borrego about that. Steve was kind enough to share me the slideshow earlier. Steve, can you start at slide 12? Sure can. How are you doing today? I'm good. I'm excited though. This is good. Slide 12 is what your company is known for. When people talk about Ankur Resources, they talk about your relationships and your corporate social responsibility. So this we do know. So let's briefly touch on your January 2020 press release because it matters. Sure, absolutely. You know Peter, I think it's really interesting right now you can't make an investment in your portfolio without considering ESG as part of the conversation. Every broker, every investment advisor has been mandated to look at these things and you call it ESG, you can call it social license to operate, you can call it social corporate responsibility. Whatever term you'd like to apply, the fact of the matter is that if you're not liked within the environment of communities that you're working in, it makes it very difficult regardless of the quality of assets to bring something forward. And we realize that especially in the context of Cambodia. We've been there for 12 years now and it's not very common where you can have such a strong relationship with the people on the ground within your local communes all the way up to the highest levels of government where your prime minister starts referring to you by name saying please be more like anchor, please do work closely with your local communities and try and bring positive impacts on the ground. And we took that to heart and we've always taken that to heart so since 2009 we've been doing it differently and we're very proud of that and in fact we've actually been asked to present our model at the United Nations in Geneva. So hang on, the picture on the right, the dental clinic, you actually paid to send a team of dentists over to Cambodia and work on the villages for free. Well it's not necessarily a pay-for-plake on a model here but look we identified a wonderful partner and it's a family business. I think there's three dentists within the family, three generations of dentists they came out of San Francisco and they've come to Cambodia multiple times now and sure what we do is we provide all the logistics and we help support and identify the various communes where we could bring their expertise to bear positively and that's the type of project that we like to work on. We've always felt that a partnership is the way to go. So whether it's a partnership with the local community whether it's partnerships with groups like this for a dental clinic whether it be bringing 40-foot containers of medical supplies into Cambodia these are ideas that Mike and Elaine Weeks developed from the very beginning of the company while we were a private couple and we continue to lead the charge in trying to find ways for corporate entities to do work differently. So yes, we brought dentists. We know that about Angkor. It's always the first thing that comes up. The second thing we know about Angkor is you're searching for gold and you have three prospects. You did a small bit of drilling at one of them and you have a larger program about to get underway. That's correct. So let me spend a couple of minutes here. I'm just going to back this presentation up so that your viewers get a chance to see some of the data and the details in sort of a logical method here. So we continue to have five licenses in Cambodia, northeastern Cambodia and we have approximately 1,000 square kilometers. It's 983 square kilometers to be exact across those five licenses. We own them 100 percent and in some cases what we've done in the past is we've brought new partners to bear positively, use their dollars to further the exploration activities on some of it and we've worked with Jogmec out of Japan on a copper porphyry on the Oyedao South license here if you can see my cursor. But today what I'm going to talk to you actually about are two licenses. One is called Andangmia and that's that blue license to the north. There's two targets in particular that we're working on. One is called Wild Boar and the other is Canada Wall and then this license to the south and it's called the Karniak license and the prospect in particular that we're working on is the Peacock prospect. Now it's really interesting Peter because Cambodia is not known for its production on precious metals nor on base metals nor is it known for oil and gas production and that's because it's only recently that these milestones are being achieved. So in late December Cambodia became an oil producing company our country I apologize where Chris Energy out of Singapore brought their offshore oil platform online. In Q2 of this year our former partner on this license it's an Australian company called Emerald Resources they'll be pouring their first Dorae bars in Q2 of this year which will be the completion of that full circle of identification of an early stage exploration license asset moved through the exploration process mining permitting building out the mine and pouring gold now Cambodia has modern mining in place as well so it's exciting for everybody because I think that really has positive impact not just on Emerald's shareholders but I think ours as well it shows that you can invest in this country so quickly we'll talk about this license in particular so this is the program that you mentioned that's just been completed it's a drill program it was a drill program that's right and Emerald had drilled 15 holes onto this target last year a year and a half ago I'm sorry and the best intercept was about 3.61 grams per ton over 8 meters it was an interesting target but it was an RC drill hole so what we did is we twinned that hole got direction and some structure data and that allowed us a step out so we extended our understanding around those initial results 600 meters is a short program and I hope to see some results back from the lab sometime in the next couple of weeks labs around the world are busy right now you know it's so true and we're very fortunate and I say it as sheepishly because I don't want everyone starting to send their lab their assay needs down to Australia and Southeast Asia but we usually can get a turnaround of around four weeks four to five weeks and that's pretty exciting pretty good right now the other license that we're working on is the Andalmia license that was that blue license to the north on the map that I showed you earlier and what we're going to be doing is we've moved our team from the cognac license to the south up to the northern license and we're going to be focusing on two targets the first one is the wild boar target now in early 2020 we actually had cores on the property out of Korea and they did a ground truthing program and they came back with some assay results that got us clearly excited and they were going to top in 55 grams per ton on some surface results we sent our team back in there in October, November once the rains have subsided and we came back with some great results on top of that high grading up north of 70 grams per ton now these are float samples we've never drilled the target but we've identified four key areas that we're going to be working on we've got a team on the ground doing further surface mapping and trenching along those four targets from north to south is about 700 meters my hope is that within the next two to three weeks we'll be finishing our trenching program our pitting program we'll have targets in line and we'll start a 1,000 to 1,500 meter drill program on the primary targets on the wild boar prospect cool so you're known for your corporate social responsibility we know that we know you're looking for gold but what I didn't know is that Cambodia is now an oil and gas country and you have licenses there so that part I'm fascinated by tell me about it no problem so in 2019 there was a little bit of information that was produced by the Danish Geological Survey and it was the missing piece really to our puzzle we've been looking for oil and gas potential in Cambodia for seven years so it's not like we just decided one day to get in a bed and say let's look for oil and gas it's something we've taken very seriously the entire management team has oil and gas experience and we've been focusing significant efforts to try and decide is the time right to move forward and in late 2019 we submitted our application for block 8 and block 8 became very interesting to us because essentially you have I'm just going to flip through a different map here you have oil production Peter all around Cambodia that's the red circles these red circles represent major oil fields and gas fields so here in the Gulf of Thailand you've got offshore oil production you have the Kulong Basin offshore of Vietnam and you've got the Korat Plateau to the north along the border with Cambodia and Thailand there's 23 TCF of gas in place here every major gas producer has a concession within this area and it often finds comparables the USGS group put together a report about three or four years ago comparing this to the Permian I mean it's a prolific area for gas production but why not in Cambodia? well this is the million dollar question and I think realistically let's just back this up to this map again there were some onshore concessions that were under ownership or with Jobmec and Petro-Vietnam excuse me and they had some licenses to the north that this is called Tongy Sap Lake they had three licenses here and they didn't do anything with them they sat on them now nobody has drilled a deep hole into Cambodian's onshore potential to date now our theory is that this might be a little bit overcooked you know I'm not a technical guide Peter so forgive me if I'm offending any of your viewers but I'd like to keep it simple overcooked means there's potential for gas so the liquid hydrocarbons is really our primary focus and I think that there's great potential to the south for gas as well and let's not forget Cambodia needs everything so right now from an energy production perspective Cambodia is keen to see oil and gas production coming online because they want to move away from coal production produced energy so at the end of the day they're very supportive of our work of the work of Chris Energy offshore here in this area in the Gulf of Thailand but just to quickly give you a sense as I mentioned just north of here 23 TCF that is a massive amount of gas in place when we found out through the Danish geological survey that the temperature levels were in the oil window that was when the light went off and we decided that block 8 was the area for us and it's also a very familiar structure it's called a four land basin and basically what that means is it's very similar to Alberta's oil sector so if you look at Alberta's structures you've got a mountain range you've got a sedimentary basin that butts up against that range and you've got a source rock underneath that that's your basic four land structure you've got in Alberta you've got the Zagros mountains we're smaller of course we're not proposing that the potential is as great in size and scope but there's certainly all the pieces that you'd want to ensure that you had the pieces to the puzzle everything appears to be in place in Cambodia and we're pretty excited by that you've got to have a section showing us that well you know there you go Peter you read my mind so this is a cross section of an offshore line of seismic that was shot just below that concession area and this matches up perfectly with what we saw from seismic to the north in that gas basin so if you see it to the south and you see it to the north and this appears to be all one big basin that runs that's been cut up a little bit through through some faulting over the millennia you've got really this contiguous basin that runs south to north all the way through Cambodia and we're excited to be the first ones to test it when will that happen? that was the question I thought you were going to ask so in early 2020 we were just in the process of our production sharing contract negotiations so we have to sit down with the Cambodian government we all have to come to terms of how this how this asset will be built out over time all the way through to production health pandemic hits and this is early March and airways start to close and we decide as a group that we would put it on pause for a period of time not dreaming it was going to be a year but it has ended up being a year and my hope is that we'll finish negotiations re-engage and finish negotiations starting sometime in March and take as long as we need to but we've obviously seen a very strong oil and gas market build up since it's low during that time frame during the health crisis so we're very excited to get moving on this okay so what's slide 11? slide 11 was back to where we started which is at the end of the day 12 years of experience allows for us to have amazing relationships and fundamental access to assets that I don't know if everyone would get because of the fact that we've done work the way we have we've told them what we're going to do we've done what we said we were going to do and we've always been transparent and we've worked closely with the local communities all the way up to the ministry and then the highest levels of government it's because of that great relationship that we were given the only access to an onshore oil block at this time no other company has an onshore oil block access to an onshore oil block in Cambodia today well that is what you're known for and you're known for the gold and now I will tell people about the oil and gas I find that fascinating Encore Resources trades as ANK on the venture exchange Steven Berega is the passionate CEO I suggest you look them up I'm Peter Clausi signing off from Investor Intel have a safe day thanks so much Peter for your time today have a good one