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CanAsia Energy Corp V.CEC

Alternate Symbol(s):  CECAF

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

Bullboard Posts
Comment by zorgon1on Dec 21, 2009 6:17pm
618 Views
Post# 16608705

RE: RE: Target price upgrade by 33%! - $15.50/bbl?

RE: RE: Target price upgrade by 33%! - $15.50/bbl?Seems that $15.50/bbl is pretty low, given the easy of drilling and production where they are.
Does anyone know what opex/capex/price assumptions that's based on?


I suspect every area of the world is different.  I assume, factored into that seemingly low valuation, is perhaps a higher than normal estimate for non-producible oil and the unique reservoir characteristics hence a lower overall recovery factor.  Perhaps, because it's a relatively new area, the reservoir engineers are being conservative.
I dunno.  A good question for the company.
Bullboard Posts

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