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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 venture009on Feb 27, 2023 7:37pm
349 Views
Post# 35308435

News Release

News ReleaseAfter reading this release I have come to the conclusion that CEC/Pan Orient, as an energy company, is the equivalent to a hobby farmer. They state they have close to 300 million in reserves and instead of talking about getting on production immediately they're talking about full production by 2038. 15 years from now! We could be dead by then. This would be laughable except they seem to be serious. Who in their right mind knows what it's going to be like in 2038 plus there is also a reference to 2083. May be a miss print (I hope). They need $10 million to get to 3200bbl/d. They can't find anyone to invest $10 million? They must have used all their financial favors trying to find an elephant in Asia. Management have had this property for at least 15 years and continue to nickle and dime a property that could move them into a 10,000 bbl/d company, which would  give them the cash flow to continue playing in Asia. Head shaker and hardly an incentive to encourage people to buy their stock. May be they have something else going on in the back ground. Can only hope because this just doesn't cut it. 
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