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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 interests in 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 75% 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 Cardboard1on Aug 28, 2017 10:58am
290 Views
Post# 26627955

RE:RE:RE:End game

RE:RE:RE:End game
They have to drill a 2nd exploratory well before November 21 to meet their commitment with the Indonesian government to retain the land.

So the fact that they are making that decision this early or without full testing of the 1st well, and that Repsol is willing to spend the capex required right away has to mean very good early indication from AYU-1X.

I am assuming that spending on the 2nd wells is around 50/50 but, I am unsure..

Cardboard
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities