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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 algroveon Aug 31, 2012 8:55am
693 Views
Post# 20283296

Partial suuccess

Partial suuccess

So they were successful with their latest cement drill through, in getting through the over-pressured zone.  In the MD&A they were at 6,329 feet.  They have now reached 6,640 feet.  The slim hole they will continue with will provide them with a stratigraphic well (similar to what CNE is currently drilling in Colombia).  They will not be able to flow test it, but will be able to carry the full suite of log tests, that will indicate whether there is oil or gas, the porosity, the permeability etc. etc.

 

This is a good move on their part at this time, to allow both wells to be completed before the rainy season starts.

 

No news about the land permits for the higher impact Sumatra wells.  In the MD&A they said if they do not get these within two weeks, then because of the rainy season they would have to be delayed to Q1 next year.  Too bad.

Bullboard Posts