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 birchjunkon Jan 29, 2013 7:31pm

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Post# 20908570

RE: Indonesia Well Spuds

From an earlier presentation.....

NTO-1 encountered 41’ of sand with oil shoes in the UTAF. NTO-2 will be targeting possible oil in this zone at a location up structure from NTO-1 and down structure from the Shell gas discovery Tuba Obi-1 drilled in 1938.

•NTO-2 is targeting P50 unrisked prospective resources of 29MMbbls in the UTAF and 77 Bcf of gas in the LTAF

The NTO- 2 appraisal well will be drilled very soon is very close to a major discovery of gas by Shell in 1938 ( Tuba-Obi-1 ).It will be targeting both gas and oil.