CanAsia Energy Corp V.CEC

Existing Wells Breakeven just 50% of new wells

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According to a 2022 survey, the average oil producer operating in the Eagle Ford oilfield in the U.S. needed WTI oil prices to amount to a minimum of 48 U.S. dollars per barrel in order to profitably drill a new well. This compared to a breakeven price of 23 U.S. dollars per barrel for existing wells.

Note that Sawn Lake has two existing wells.