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 Public_Heelon Nov 28, 2012 9:17am

422 Views

Post# 20653343

RE: RE: $130 million in bank - Algrove

Seems like a no-brainer for Baytex to buy the property for a few cents/barrel. That they have not tells me that POE's assets are somehow considered inferior, and even non-commercial. I realize the stock answer to that concern is that we have to wait for the SAGD plant to prove commerciality one way or the other, but why would a company with Baytex's expertise have to wait for that?

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