CanAsia Energy Corp V.CEC

Alternate Symbol(s): CECAF

Energy Oil & Gas E&P

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 working interests in, four heavy oil sand leases with 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 100% 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).

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CanAsia Energy Corp

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Post by straightupon Oct 24, 2007 5:48pm

280 Views

Post# 13683062

Number crunching

I am new to this to so I may need a little adjusting here.Help me out if you are able please.I use 6000 net to poe because of the success rate they are having.Maybe a little optomistic but I don't think so. Lets use 10 000 bbl/d 6000 net to poe 6000 x $80.00/bbl = $480 000 per day for a cost I would guess $10.00 per barrel. $10.00 x 6000 = $60 000 per day $480 000 minus 60 000 = $420 000/day of CF $420 000 x 365 days per year = $153,300,000 divide by 41,000,000 outstanding shares and I get $3.73 in cf.I know the wells will have a decline in production but won't they bring on more to cover during 08.Close or no cigar?

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