Preheat your oven to 400°F. Spread the almonds on a baking sheet and toast them for roughly 7 minutes. Watch them closely as you want them golden brown but not burnt.

Let the almonds cool. Place them in a blender and pulse until they are finely ground.

Combine the sugar and water in a saucepan over medium heat. Stir until the sugar is completely dissolved. Bring to a gentle boil and add the ground almonds to the syrup. Turn the heat down to low and let it simmer for about 3 minutes.

Remove the pan from the heat, cover it with a lid, and let it sit for at least 3 hours

Place a cheesecloth folded over a few times over a bowl and pour the almond mixture into the cloth. Squeeze hard to extract every bit of liquid and oil. The resulting liquid should look like thick, beige milk.