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).

TSXV:CEC - Post by User

CanAsia Energy Corp

Bullboard Posts

Comment by goldplungeron Oct 31, 2008 3:29pm

538 Views

Post# 15559273

RE: EXTREMELY undervalued

Thanks for you post. I also spoke to management three weeks ago and couldn't believe it. I even wrote up a financial model, basically showing them producing around $1 EPS Net at $60 oil at their current production rate ~9000 bopd. I think they will be quite capable in doubling this production by end of 09' and with oil likely to start climbing during the 2nd half 09' the numbers just get silly. My price target is $20 CAN in 12 months and that would be based on 50-60 WTI. If this indonesian well is successful that they plan on drilling late November 08 (10-20% probability), then you are talking more like a $50-100 stock in 12 months.

Bullboard Posts

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