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CanAsia Energy Corp V.CEC

Alternate Symbol(s):  CECAF

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
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Comment by 3lectricgorillaon Mar 28, 2013 10:10am
266 Views
Post# 21179857

RE: RE: Disbelief

RE: RE: Disbelief

Agreed. I read through the report and thought it was optimistic. L53-H and L53-DB1 wells were unsuccessful but the L53-DC1 and L53-DC2 are producing 414 BOPD. I like that were delaying Indonesia for the better potential wells in Thailand. Early 2013 production is down to 824 BOPD off from 1,500 BOPD but this look temporary due to workovers and drilling. Did see some declining production rates from the deeper sandstone "C" zonesbut those sands were already considered depleted. Still holding here and believe the downturn today is unwarranted. 

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Dealroom for high-potential pre-IPO opportunities
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