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

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Comment by CalifDreamingon Apr 11, 2012 11:46am

309 Views

Post# 19780620

RE: RE: RE: what a beat down

? NAV is over $10 share right now.

Year end 2011 2P NPV10 after tax is $6.58 share. Add in ~$1 cash and you get $7.50. Then add in unbooked reserves at L53D (discovered this year so not in year end numbers) which likely range 10-15MM bbl range right now (at $20 bbl, that's $200-$300MM NPV10 after tax = $3.50-$5.25 share).

POE is really good value at these prices. Trading about $39K EV per flowing and about 1-2x cf depending on their H2 drilling success at L53D and huge discount to NAV.

This is a time to add to your position while the market snoozes waiting for the production license to resume drilling at L53D. In the meantime, there is on-going Indo drilling.

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