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CanAsia Energy Corp 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 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

Bullboard Posts
Post by goldplungeron Dec 06, 2008 11:38am
1261 Views
Post# 15631371

Bought more

Bought moreAt 20 dollar oil, their cash flow from Thai operation next year is 43million. Assuming they drill 30 wells each cost about 1 million and allare dry holes, that will leave them 13 million free cash flow plustheir existing cash.  No debt..buying back stock.  Great buying opportunity.  I can't find another junior producer which is so recession proof.  Many aren't going to make it.  POE will be one of the few that will have cash on hand to take advantage when others can't even keep the lights on due to high prod costs and huge debt loads. 
Bullboard Posts