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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 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

Post by radcaton Sep 01, 2022 8:18am
210 Views
Post# 34934796

The Share Price

The Share PricePost L-53 Sawn lake, V.CEC, started out being worth around $30 million or 60 cents per share. At 22 cents it is now worth $11 million with supposedly $7 million in the bank. SL reserves plus production facility is worth only $4 milion which is completely nuts! Time for management to say something. Give us a wee MD&A since CEC is sort of like a brand new start-up. All we know is we will be bidding on future Thai oil blocks whenever that occurs, and increasing Sawn Lake output to 3,600 bopd which is currently zero, and production is probably not going to happen at todays WCS price. So CEC share price is reflecting dead money. Expecting some shareholders will continue bolting causing the share price to drop further. While we received our distribution, we have now become an energy company without energy production, no production equals no revenue, and no clue when this will change puts us in a sea of Jr. resouce companies equivalent to Moose pasture.       
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