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CanAsia Energy Corp V.POE


Primary Symbol: 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 bullhorn3on Jun 21, 2022 9:01pm
317 Views
Post# 34772780

Cash cache before sale

Cash cache before saleIf the last quarter was any indication, POE should be making money, so if the sale takes place in September, say, POE should accumulate some $M in cash which I will call "June-Sept cash" which will presumably go to CanAsia. Was there already $7M in a bank account when the announcement was made in June (in which case CanAsia will startup with $10M, say, not $7M per the announcement)? Or will the June-Sept cash be part of the $7M. Or will the June-Sept cash cover unknown selling costs not mentioned so far?
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