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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
Comment by Sonny7on Jul 19, 2012 10:45am
373 Views
Post# 20130614

RE: RE: Correction

RE: RE: Correction

They will not stop drilling until they are confident that they are through these upper sands of the secondary target. The idea is to log the whole section of the zone and I'm sure they know through seismic survey interpretation where Parigi is located and some competent formation lies between the two zones. They need to drill past the sands and into this competent rock by at least 100 feet for at least two reasons, one being that they need a "sump" for electronic wireline logging tools to start logging below the sands so they have full coverage of the sand zone and they need to be well into competent rock that will act as a safe anchor for cementing casing in place. With the upper zone safely isolated with casing in place, they have options. If they have the drilling equipment in the area, 3 1/2" drill pipe and associated drill collars, tools etc., they could go slim hole into Parigi and get it logged and tested for valuable information. After testing, the Parigi can be isolated and then the upper sands can then be tested after Parigi is plugged back.

My point is that this is is an exploration well and formation pressures of Parigi are unknown (by ME at least) and it is just wrong to have both zones open by drilling at the same. It is dangerous and unsafe in my opinion. Industry wide, I think this would be considered reckless to have open hole in the overpressured upper sands and then continue into Parigi. Thoughts of underground blowouts, or worse, come to mind.   

 

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