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

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Comment by bob4977on Jul 28, 2012 10:51am

247 Views

Post# 20161943

RE: RE: Key Statements..May 28 and July 23

I have little drilling knowledge public heel but you summed it up quite nicely

That they had essentially the same problem at the same level makes me wonder if either (1) the drilling team isn't up to this or (2) the geology is just too difficult to drill.

You have to hope that the drilling team just made mistakes yet that would not instill confidence in future drilling success. Hopefully this is not an unsolvable problem. Even if they have to start over and drill another well from scratch it is not the end of the world as long as they can learn from the geology and fix the problem.

Bob

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