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

Bullboard Posts

Comment by derbon99on Jan 25, 2010 5:36pm

413 Views

Post# 16717092

RE: Big Picture

I don't agree with your coments.

I think the L53 is quite interesting and the production with the new wells of this concession and the BR-2ST2 will be probably around 5000-5500 bopd.
With the further developpment wells (34 for the year) I thing the target of 6000 wont be a major issue.

Roughly with a production of 6000 and a POO at around 80-100, we could see earning at 30-40 mios = PER 10

It is without further exploration success, without taking account of sawn lake, indonesia and the concession L33.

I think the market overreacted. Only my opinion.

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