CanAsia Energy Corp CECAF

Primary Symbol: V.CEC

Energy Oil & Gas E&P

CanAsia Energy Corp. is a Canada-based junior oil and gas company. The Company is engaged in the exploration for, and the acquisition, development and production of, crude oil and natural gas reserves. The Company, through its subsidiary, Andora Energy Corporation, is focused on developing the bitumen resources at the Sawn Lake property using steam assisted gravity drainage (SAGD) development. The Company has working interests in, four heavy oil sand leases with 27 sections (24.25 net sections) of Sawn Lake Alberta Crown oil sands leases within the Alberta Peace River Oil Sands area. In the Sawn Lake Central area, it operates with a 100% working interest in two oil sands leases with 11 gross sections (8.25 net sections). In the Sawn Lake South area, it operates with a 100% working interest in three oil sands leases with 16 gross sections (16 net sections).

TSXV:CEC - Post by User

CanAsia Energy Corp > Date of capital return?

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Comment by bullhorn3on Jul 28, 2022 9:00am

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Post# 34856451

RE:RE:RE:RE:RE:RE:Date of capital return?

More info from Jeff when I suggested that the deal was unfavourable so might vote against it and salaries would eat CanAsia startup funding:

"
1) the salaries total, post deal are $190,000 cad annually.

2) over 15 companies reviewed the asset, 5 bid, this was the best offer.

3) this is a late stage producing asset with a total concession area of 27km2.

I would highly recommend not voting against this transaction.
"
For comparison, OBE just restructured debt, are now paying 12%... seems horrible, but sometimes companies have to choose the best of bad alternatives, I guess.

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