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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

Comment by dowdon Jun 23, 2022 11:09pm
205 Views
Post# 34779223

RE:RE:RE:Cash cache before sale

RE:RE:RE:Cash cache before saleRadcat, I also looked through the purchase and sale agreement for this information and couldn't find any termnination fee in the case of a buyer default. Also, I did not see a deposit paid? So, my conclusion is that there is no way out for the buyer.

No contingiencies, which makes sense as it looks to be a cheap price. So, if the buyer defaults we would have the option to sue for specific performance and force them to pay the money. If anyone sees the agreement differently please let us know. 

it is a long agreement and I just skimmed it. 
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